Europe’s Coming Winter From Hell: Thanks for Your Sanctions War, Washington!

Source: Caitlin Johnstone

Europe’s impending depression is not to be discounted in terms of its relevance to this side of the Atlantic pond. Since the turn of the century, US exports to the European Union have soared from $12.3 billion per month to $30.4 billion. That latter amounts to $365 billion on an annual basis.

Needless to say, when European GDP descends into a double-digit slide, demand for US exports will plunge, causing declines in production and employment on this side of the Atlantic.

Europe’s Coming Winter From Hell: Thanks for Your Sanctions War, Washington!

The scissors of slump

Last week, US Treasury Secretary Janet Yellen told the US Congress that “We now are entering a period of transition from one of historic recovery to one that can be marked by stable and steady growth. Making this shift is a central piece of the President’s plan to get inflation under control without sacrificing the economic gains we’ve made.”

It’s true that the US economy since the depths of the pandemic slump, (which remember in terms of national output, incomes and investment was the worst since the 1930s – even worse that the Great Recession of 2008-9) has made a recovery. But it could hardly be described as ‘historic’. And as for the claim that the US economy, the best performing of the major economies in the last year, is heading towards ‘stable and steady growth’, that is not supported by reality.

The scissors of slump

Why Many Progressives Misrepresented and Condemned the Ottawa Trucker Protest

Canada’s “Freedom Convoy” began with protesting rules implemented in January by the Canadian and later the US governments requiring truck drivers to be fully vaccinated to enter their country. It snowballed into a demonstration against dysfunctional coronavirus restrictions. The Ottawa trucker protesters demanded: No Lockdowns, No Mandates, No Vaccine Passports, and if not, that Trudeau resign.

Why Many Progressives Misrepresented and Condemned the Ottawa Trucker Protest