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The Fed raised interest rates 1/2 a percent easing their previous multiple 3/4 percent increases over the last several months. The Dow, having a good day, cratered on the announcement dropping over 300 points in a few minutes. Proof positive that the markets are shitty indicators of the economy looking forward. Evidence suggests EU and US economies are going to avoid recessions and if there is one it will be mild and V shaped. Economists have all raised their GDP estimates - not by a lot, but it's not the gloom and doom scenarios they were flirting with this summer.+
If you've been watching China, they are fucked as Xi abandons most of his zero-covid policies. Few of the 1.4 billion Chinese are vaccinated or have natural immunity. Those that have been vaxed got the shit vaccine the Chinese scrimped on with Xi insisting the Chinese didn't need no fucking vaccines since we're going to beat this COVID thing by locking everyone down. Monumentally stupid and its totally understandable, the Chines don't want to get out and go back to work, shop, travel or play. They've had it beat into them - literally - that they are going to die unless they stay locked into their apartments. That's exactly what reports say is happening. despite easing of COVID rules, people are staying inside their homes. China's economy will stumble through the next 18 months - almost a laughable turn of events considering that during the summer of 2020 people were saying the Chicoms let SARS2 out of military labs to hurt western economies.
I don't know how many Chinese clogging the hospitals in China are in need of life saving interventions, my sense is that the sniffles or a cough is sending worried chinamen to clinics, overwhelming them. I also don't know if the Chinese have widespread availability of prophylactic meds designed to reduce severity of COVID once infected. This whole display of incompetence of a centralized administrative state is fun (in a sick sort of way) to watch unfold. The administrator is Xi and his Communist Party gangsters. This isolated group is directing public health policy for a population facing a infectious disease that the state has had more than ample time to prepare for. It's a cluster-fuck on a massive scale that entertaining - if only to accurately depict - no just relearn - how fucked up Communism is. And it's no coincidence that it fully outs trends in democratic countries to centralize power and govern by administrative fiat. Chinese citizens are going to pay the price of Communist party incompetence. The world's economies will also suffer as a result of the world's largest manufacturing country muddling through this self inflicted shitstorm.
If you've been watching China, they are fucked as Xi abandons most of his zero-covid policies. Few of the 1.4 billion Chinese are vaccinated or have natural immunity. Those that have been vaxed got the shit vaccine the Chinese scrimped on with Xi insisting the Chinese didn't need no fucking vaccines since we're going to beat this COVID thing by locking everyone down. Monumentally stupid and its totally understandable, the Chines don't want to get out and go back to work, shop, travel or play. They've had it beat into them - literally - that they are going to die unless they stay locked into their apartments. That's exactly what reports say is happening. despite easing of COVID rules, people are staying inside their homes. China's economy will stumble through the next 18 months - almost a laughable turn of events considering that during the summer of 2020 people were saying the Chicoms let SARS2 out of military labs to hurt western economies.
I don't know how many Chinese clogging the hospitals in China are in need of life saving interventions, my sense is that the sniffles or a cough is sending worried chinamen to clinics, overwhelming them. I also don't know if the Chinese have widespread availability of prophylactic meds designed to reduce severity of COVID once infected. This whole display of incompetence of a centralized administrative state is fun (in a sick sort of way) to watch unfold. The administrator is Xi and his Communist Party gangsters. This isolated group is directing public health policy for a population facing a infectious disease that the state has had more than ample time to prepare for. It's a cluster-fuck on a massive scale that entertaining - if only to accurately depict - no just relearn - how fucked up Communism is. And it's no coincidence that it fully outs trends in democratic countries to centralize power and govern by administrative fiat. Chinese citizens are going to pay the price of Communist party incompetence. The world's economies will also suffer as a result of the world's largest manufacturing country muddling through this self inflicted shitstorm.
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