Don't worry hawks, your deep state will take the focus off

New Post Public Reply Private Reply Replies (1) Message Board
wowhappens28 Bhawks #12140
146
Don't worry hawks, your deep state will take the focus off this failed overthrow of Trump with Russia, not they will crash the economy and blame Trump.

Hey hawks, your slavery side(socialism) has already won, Sieg Heil

"Everything Has Gone Wrong": Soros Warns "Major" Financial Crisis Is Coming

https://www.zerohedge.com/news/2018-05-29/eve...sis-coming

In a speech delivered Tuesday in Paris, billionaire investor George Soros warned that the world could be on the brink of another devastating financial crisis, as debt crises reemerge in Europe and a strengthening dollar pressures both the US's emerging- and developed-market rivals.

And Europe, with Italy dragging worries about the possible dissolution of the euro back to the forefront, won't be far behind. Political pressures like the dissolution of its transatlantic alliance with the US will eventually translate into economic harm. Presently, Europe is facing three pressing problems: The refugee crisis, the austerity policy that has hindered Europe's economic development, and territorial disintegration - not only Brexit, but the threat that countries like Italy might follow suit...

ut in the near-term, the US's decision to pull out of the Iran deal is straining Europe's alliance with its most important Western partner just as the strengthening dollar is constricting financial conditions around the world.

Until recently, it could have been argued that austerity is working: the European economy is slowly improving, and Europe must simply persevere. But, looking ahead, Europe now faces the collapse of the Iran nuclear deal and the destruction of the transatlantic alliance, which is bound to have a negative effect on its economy and cause other dislocations.

The strength of the dollar is already precipitating a flight from emerging-market currencies. We may be heading for another major financial crisis. The economic stimulus of a Marshall Plan for Africa and other parts of the developing world should kick in just at the right time. That is what has led me to put forward an out-of-the-box proposal for financing it.

Soros's warning comes as Italian 2Y bond yields shoot higher by the most on record:

See chart in the link^

Adding to the urgency, it is no longer a "figure of speech" to claim that the EU is in "existential danger," Soros said. It's an obvious reality.

“The EU is in an existential crisis. Everything that could go wrong has gone wrong,” he said.

To escape the crisis, “it needs to reinvent itself.”

"The United States, for its part, has exacerbated the EU’s problems. By unilaterally withdrawing from the 2015 Iran nuclear deal, President Donald Trump has effectively destroyed the transatlantic alliance. This has put additional pressure on an already beleaguered Europe. It is no longer a figure of speech to say that Europe is in existential danger; it is the harsh reality."

The only way to prevent an all-out collapse, Soros explained, would be a 30 billion euro ($35.4 billion) "Marshall Plan" for Africa that Soros believes would help stem the flow of migrants into Europe, something that, Soros finally admits, is one of the biggest problems facing Europe. The EU, Soros believes, should use its "largely unused" borrowing authority to finance the plan.

“We may be heading for another major financial crisis,” Soros said explicitly.

The alternative, Soros claims, is further "territorial disintegration" of the EU as countries that have largely suffered as a result of the monetary union contemplate leaving. To prevent this, Soros says Europe must acknowledge and address the flaws of the euro system. Perhaps the most glaring of which is that the euro created an entrenched two-tiered system of debtors and creditors.

I personally regarded the EU as the embodiment of the idea of the open society. It was a voluntary association of equal states that banded together and sacrificed part of their sovereignty for the common good. The idea of Europe as an open society continues to inspire me.

But since the financial crisis of 2008, the EU seems to have lost its way. It adopted a program of fiscal retrenchment, which led to the euro crisis and transformed the eurozone into a relationship between creditors and debtors. The creditors set the conditions that the debtors had to meet, yet could not meet. This created a relationship that was neither voluntary nor equal – the very opposite of the credo on which the EU was based.

As some will remember, Soros Fund Management - the family office that manages Soros's money, which he has mostly dedicated to his "Open Society" network of NGOs - closed most of its long-EM positions after President Trump defeated Hillary Clinton. Of course, where Soros sees danger, others see opportunity. For example, Mark Mobius "un-retired" last month to open a fund that he hopes will take advantage of opportunities amid the EM carnage, as analysts continue to see EM as the area that's most vulnerable to a re-pricing in USD.

* * *

Read the speech in full below:

The European Union is mired in an existential crisis. For the past decade, everything that could go wrong has gone wrong. How did a political project that has underpinned Europe’s postwar peace and prosperity arrive at this point?

In my youth, a small band of visionaries led by Jean Monnet transformed the European Coal and Steel Community first into the European Common Market and then the EU. People of my generation were enthusiastic supporters of the process.

I personally regarded the EU as the embodiment of the idea of the open society. It was a voluntary association of equal states that banded together and sacrificed part of their sovereignty for the common good. The idea of Europe as an open society continues to inspire me.

But since the financial crisis of 2008, the EU seems to have lost its way. It adopted a program of fiscal retrenchment, which led to the euro crisis and transformed the eurozone into a relationship between creditors and debtors. The creditors set the conditions that the debtors had to meet, yet could not meet. This created a relationship that was neither voluntary nor equal – the very opposite of the credo on which the EU was based.

As a result, many young people today regard the EU as an enemy that has deprived them of jobs and a secure and promising future. Populist politicians exploited the resentments and formed anti-European parties and movements.

Then came the refugee influx of 2015. At first, most people sympathized with the plight of refugees fleeing political repression or civil war, but they didn’t want their everyday lives disrupted by a breakdown in social services. And soon they became disillusioned by the failure of the authorities to cope with the crisis.

When that happened in Germany, the far-right Alternative für Deutschland (AfD) rapidly gained strength, making it the country’s largest opposition party. Italy has suffered from a similar experience recently, and the political repercussions have been even more disastrous: the anti-European Five Star Movement and League parties almost took over the government. The situation has been deteriorating ever since. Italy now faces elections in the midst of political chaos.

Indeed, the whole of Europe has been disrupted by the refugee crisis. Unscrupulous leaders have exploited it even in countries that have accepted hardly any refugees. In Hungary, Prime Minister Viktor Orbán based his reelection campaign on falsely accusing me of planning to flood Europe, Hungary included, with Muslim refugees.

Orbán is now posing as the defender of his version of a Christian Europe, one that challenges the values on which the EU was based. He is trying to take over the leadership of the Christian Democratic parties which form the majority in the European Parliament.

The United States, for its part, has exacerbated the EU’s problems. By unilaterally withdrawing from the 2015 Iran nuclear deal, President Donald Trump has effectively destroyed the transatlantic alliance. This has put additional pressure on an already beleaguered Europe. It is no longer a figure of speech to say that Europe is in existential danger; it is the harsh reality.

What Can Be Done?

The EU faces three pressing problems: the refugee crisis; the austerity policy that has hindered Europe’s economic development; and territorial disintegration, as exemplified by Brexit. Bringing the refugee crisis under control may be the best place to start.

I have always advocated that the allocation of refugees within Europe should be entirely voluntary. Member states should not be forced to accept refugees they don’t want, and refugees should not be forced to settle in countries where they don’t want to go.

This fundamental principle ought to guide Europe’s migration policy. Europe must also urgently reform the Dublin Regulation, which has put an unfair burden on Italy and other Mediterranean countries, with disastrous political consequences.

The EU must protect its external borders but keep them open for lawful migrants. Member states, in turn, must not close their internal borders. The idea of a “fortress Europe” closed to political refugees and economic migrants not only violates European and international law; it is also totally unrealistic.

Europe wants to extend a helping hand toward Africa and other parts of the developing world by offering substantial assistance to democratically inclined regimes. This is the right approach, as it would enable these governments to provide education and employment to their citizens, who would then be less likely to make the often dangerous journey to Europe.

By strengthening democratic regimes in the developing world, such an EU-led “Marshall Plan for Africa” would also help to reduce the number of political refugees. European countries could then accept migrants from these and other countries to meet their economic needs through an orderly process. In this way, migration would be voluntary both on the part of the migrants and the receiving states.

Present-day reality, however, falls substantially short of this ideal. First, and most importantly, the EU still lacks a unified migration policy. Each member state has its own policy, which is often at odds with the interests of other states.

Second, the main objective of most European countries is not to foster democratic development in Africa and elsewhere, but to stem the flow of migrants. This diverts a large part of the available funds to dirty deals with dictators, bribing them to prevent migrants from passing through their territory or to use repressive methods to prevent their citizens from leaving. In the long run, this will generate more political refugees.

Third, there is a woeful shortage of financial resources. A meaningful Marshall Plan for Africa would require at least €30 billion ($35.4 billion) annually for a number of years. EU member states could contribute only a small fraction of this amount. So, where could the money come from?

It is important to recognize that the refugee crisis is a European problem requiring a European solution. The EU has a high credit rating, and its borrowing capacity is largely unused. When should that capacity be put to use if not in an existential crisis? Historically, national debt always grew in times of war. Admittedly, adding to the national debt runs counter to the prevailing orthodoxy that advocates austerity; but austerity is itself a contributing factor to the crisis in which Europe finds itself.

Until recently, it could have been argued that austerity is working: the European economy is slowly improving, and Europe must simply persevere. But, looking ahead, Europe now faces the collapse of the Iran nuclear deal and the destruction of the transatlantic alliance, which is bound to have a negative effect on its economy and cause other dislocations.

The strength of the dollar is already precipitating a flight from emerging-market currencies. We may be heading for another major financial crisis. The economic stimulus of a Marshall Plan for Africa and other parts of the developing world should kick in just at the right time. That is what has led me to put forward an out-of-the-box proposal for financing it.

Without going into the details, I want to point out that the proposal contains an ingenious device, a special-purpose vehicle, that would enable the EU to tap financial markets at a very advantageous rate without incurring a direct obligation for itself or for its member states; it also offers considerable accounting benefits. Moreover, although it is an innovative idea, it has already been used successfully in other contexts, namely general-revenue municipal bonds in the US and so-called surge funding to combat infectious diseases.

But my main point is that Europe needs to do something drastic in order to survive its existential crisis. Simply put, the EU needs to reinvent itself.

This initiative needs to be a genuinely grassroots effort. The transformation of the Coal and Steel Community into the European Union was a top-down initiative and it worked wonders. But times have changed. Ordinary people feel excluded and ignored. Now we need a collaborative effort that combines the top-down approach of the European institutions with the bottom-up initiatives that are necessary to engage the electorate.

Of the three pressing problems, I have addressed two. That leaves territorial disintegration, exemplified by Brexit. It is an immensely damaging process, harmful to both sides. But a lose-lose proposition could be converted into a win-win situation.

Divorce will be a long process, probably taking more than five years – a seeming eternity in politics, especially in revolutionary times like the present. Ultimately, it is up to the British people to decide what they want to do, but it would be better if they came to a decision sooner rather than later. That is the goal of an initiative called Best for Britain, which I support. This initiative fought for, and helped to win, a meaningful parliamentary vote on a measure that includes the option of not leaving before Brexit is finalized.

Britain would render Europe a great service by rescinding Brexit and not creating a hard-to-fill hole in the European budget. But its citizens must express support by a convincing margin in order to be taken seriously by Europe. That is Best for Britain’s aim in engaging the electorate.

The economic case for remaining an EU member is strong, but it has become clear only in the last few months, and it will take time to sink in. During that time, the EU needs to transform itself into an organization that countries like Britain would want to join, in order to strengthen the political case.

Such a Europe would differ from the current arrangements in two key respects. First, it would clearly distinguish between the EU and the eurozone. Second, it would recognize that the euro has many unsolved problems, which must not be allowed to destroy the European project.

The eurozone is governed by outdated treaties that assert that all EU member states are expected to adopt the euro if and when they qualify. This has created an absurd situation where countries like Sweden, Poland, and the Czech Republic, which have made it clear that they have no intention to join, are still described and treated as “pre-ins.”

The effect is not purely cosmetic. The existing framework has converted the EU into an organization in which the eurozone constitutes the inner core, with the other members relegated to an inferior position. There is a hidden assumption at work here, namely that, while various member states may be moving at different speeds, they are all heading to the same destination. This ignores the reality that a number of EU member countries have explicitly rejected the EU’s goal of “ever closer union.”

This goal should be abandoned. Instead of a multi-speed Europe, the goal should be a “multi-track Europe” that allows member states a wider variety of choices. This would have a far-reaching beneficial effect. Currently, attitudes toward cooperation are negative: member states want to reassert their sovereignty rather than surrender more of it. But if cooperation produced positive results, sentiment might improve, and some objectives, like defense, that are currently best pursued by coalitions of the willing might attract universal participation.

Harsh reality may force member states to set aside their national interests in the interest of preserving the EU. That is what French President Emmanuel Macron urged in the speech he delivered in Aachen when he received the Charlemagne Prize, and his proposal was cautiously endorsed by German Chancellor Angela Merkel, who is painfully aware of the opposition she faces at home. If Macron and Merkel succeeded, despite all the obstacles, they would follow in the footsteps of Monnet and his small band of visionaries. But that narrow group needs to be replaced by a large upsurge of bottom-up pro-European initiatives. I and my network of Open Society Foundations will do everything we can to help those initiatives.

Fortunately, Macron, at least, is well aware of the need to broaden popular support for and participation in European reform, as his proposal for “Citizens’ Consultations” makes clear. The Trento Economic Festival, a large gathering organized by civil-society groups at a time when Italy did not have a government, will meet from May 31 to June 3. I hope it will be successful and set a good example for similar civil-society initiatives to emulate.

Scroll down for more posts ▼

Top 10 Most Recent News Articles

PG&E's $500K Grants Wrap Up Five-Year Environmental Push

Updated Category News Views 151

Wrapping Up a Half-Decay of Environmental Commitment PG&E has been playing the long game with its environmental initiatives, and this wraps up a five-year saga that's worth dissecting. The PG&E Corporation Foundation has doled out its final set of grants, making a 25-strong lineup of eco-friendly campaigns. We're talking $500,000 split among five organizations trying to...

Continue Reading
Glance's Guide Bridges AI and Human Service Gaps

Updated Category News Views 117

Untangling the AI to Human Transition Ever found yourself stuck in a never-ending loop with AI, screaming for a human voice? You're not alone. According to Glance's 2026 Customer Experience Trends Report, a staggering 76% of consumers are pulling their hair out while repeating themselves when switching service channels. The rub? Only 7% claim they rarely experience this...

Continue Reading
Gildan Faces Lawsuit: Allegations of Revenue Inflations

Updated Category News Views 27

Gildan's Revenue Magic Trick or Corporate Roulette? Imagine turning on the news just as Gildan's stock takes a freefall dive. June 16, 2026, didn't just mark another dip on the charts for NYSE: GIL; it sent investors tripping over phone cords as shares plummeted a whopping 18.75%. That's not your everyday market swing, folks. Behind this dramatic drop looms a hefty class...

Continue Reading
Neuberger Fund Ups Distribution Amid Market Challenges

Updated Category News Views 61

Neuberger Boosts Distribution: What's Driving This? I ain't about to sugarcoat it: the Neuberger Next Generation Connectivity Fund (NYSE: NBXG) decided to jack up its monthly distribution rate to $0.132 per share. This announcement, hitting wallets on November 30, 2026, has a record and ex-date of November 16. Now, that's a good ol' reliable payout for folks holding NBXG...

Continue Reading
Chemical Industry Golf Event Raises $100,000 for STEM

Updated Category News Views 111

Golf Goes Beyond the Green Picture this: industry bigwigs teeing off for a cause that actually matters. We're talking about the Swings for STEM golf tournament, where $100,000 was drummed up for the future minds that'll drive tomorrow's chemical industry. Now, that's what you call putting your money where your mouth is. This wasn't about boasting scores on the links; it...

Continue Reading
ServiceTitan Faces Investor Fury: Revenue Surprise

Updated Category News Views 93

A Crippling Blow for ServiceTitan Investors When you're in the investing game long enough, you start to recognize the scent of trouble before it even hits the fan. In the case of ServiceTitan, Inc. (NASDAQ: TTAN), the smell came wafting in strong when the stock took a nosedive on September 9, 2026. Investors were left clutching their portfolios with bewilderment as shares...

Continue Reading
Sabey Data Centers Tests HVO to Cut Emissions

Updated Category News Views 68

Exploring New Horizons in Data Center Energy A curious tale is unfolding down in Austin, Texas, folks—one where data centers meet renewable energy in a bid to clean up their act. Sabey Data Centers is giving good old-fashioned diesel the boot in favor of hydrotreated vegetable oil (HVO) for backup power. We're not talking about minor tweaks here; this is about testing...

Continue Reading
Race for Life Rescue Logs 200 Flights for Shelter Pets

Updated Category News Views 47

Airborne Lifelines for Vulnerable Animals Ever picture an airplane filled with hope? Well, Race for Life Rescue isn't just carting metal through the sky; they're lifting spirits, one furry passenger at a time. Picture this: a nonprofit turning a clunky Beechcraft into a flying ark, whisking away 112 at-risk pets from Louisiana to fresh starts in the Northeast. And guess...

Continue Reading
Everest Group Faces Class Action: Key Deadlines Looming

Updated Category News Views 64

Everest Group's Legal Quagmire: A Rocky Road Ahead Riding high has its pitfalls. I mean just take a gander at Everest Group, Ltd. (NYSE: EG). The suits and stocks got their knickers in a twist when the company's missteps saw them landing smack dab in the middle of a shareholder class-action lawsuit. It's gloomy days, my friend, especially if you're carrying a portfolio...

Continue Reading
Serena's Heart Necklaces: Tennis's Luckiest Jewelry?

Updated Category News Views 86

You ever thought a piece of jewelry could win a game? Well, that's the buzz stirring in tennis circles these days. The iconic diamond giant, A Diamond Is Forever, dove into the gem-studded histories of some legendary players to crack open the mystery of luckiest jewelry on the court. It turns out Serena Williams takes the cake—with her heart necklaces scoring the...

Continue Reading

Top 5 Most Recently Viewed Articles

Legal Challenges Unfold Over Corporate Transparency Act Impact

Updated Category News Views 69

Community Associations Institute Pursues Legal Action The Community Associations Institute is stepping into the courtroom as it challenges the recently instituted Corporate Transparency Act, which requires certain organizations to file detailed reports disclosing their beneficial owners. This action takes place in the United States District Court for the Eastern District...

Continue Reading
Fox Corporation's CFO Steve Tomsic at UBS Media Conference

Updated Category News Views 97

Fox Corporation's CFO Steve Tomsic at UBS Media Conference Fox Corporation, a leader in the entertainment and media industry, has confirmed that its Chief Financial Officer, Steve Tomsic, will participate in the highly anticipated UBS Global Media and Communications Conference. This event is set to take place on December 9, with Tomsic's presentation scheduled for...

Continue Reading
GE Vernova's Outlook Dims as HSBC Downgrades to Hold

Updated Category News Views 67

GE Vernova's Rating Adjustment by HSBC Recently, analysts at HSBC have made significant changes to their outlook on GE Vernova (NYSE: GEV), shifting their recommendation from "Buy" to "Hold." This decision is primarily influenced by concerns about the company's offshore segment, which the analysts believe will negatively impact its overall wind business performance....

Continue Reading
SGH's A$32.35 Proposal: Steel Dynamics' Bold Move on BlueScope

Updated Category News Views 175

So here’s the scoop—SGH and Steel Dynamics just dropped their best shot at BlueScope Steel Ltd with a proposal clocking in at A$32.35 per share. This isn’t just another bid; it’s a bold move that sends ripples through the steel sector. Traders are already spinning scenarios around what this means for market positioning, especially when you see a hefty 21% bump in...

Continue Reading
Discover Winter Adventures with the New Fairbanks Guide

Updated Category News Views 290

Explore Fairbanks Unveils the 2025-26 Winter Guide Explore Fairbanks has announced the release of the highly anticipated 2025-26 Winter Guide, a complimentary resource designed for visitors ready to embrace the magic of winter in the Fairbanks area. This 32-page guide is full of vibrant illustrations and detailed information that highlights everything this stunning...

Continue Reading