Europe

Submitted by Pater Tenebrarum via Acting-Man.com,

Victims of the Boom-Bust Cycle

The world is drowning in steel – there is huge overcapacity in steel production worldwide. This is a direct result of the massive global credit expansion that has taken place over the past 15 years. Much of this capacity is located in China, but while the times were good, iron ore and steel production (and associated lines of production) was expanded everywhere else in the world as well.

Steel factory

Less than a month after a damning report emerged that a high-ranking police officer has alleged that his seniors tried to strike the word rape from an internal police report after the mass sexual assaults in Cologne over New Year, Germany is gripped in a new sexual assault scandal involving refugees. Eighteen German women have filed police complaints saying they were sexually assaulted at a musical festival in Darmstadt. Police arrested three refugees from Pakistan at the scene after three of the women immediately reported their attacks.

Spending rose (thanks to higher costs for energy) and everything else was dismal... and then Brexit moved into the lead - Inconceivable...

Following the flash crash in China overnight...

Submitted by Patrick Buchanan via Buchanan.org,

In his op-ed in The Washington Post, Chris Grayling, leader of the House of Commons, made the case for British withdrawal from the European Union — in terms Americans can understand.

Would you accept, Grayling asks, an American Union of North and South America, its parliament sitting in Panama, with power to impose laws on the United States, and a high court whose decisions overruled those of the U.S. Supreme Court?

 

The Russian Deputy Foreign Minister has said that the increase in NATO’s military presence near Russia’s borders will not go unanswered. “The Russian side has repeatedly stated that the buildup of the NATO military presence near Russian borders violates the spirit of the basic Russia-NATO pact and cannot be left unanswered by our country,” Aleksey Meshkovan told an international conference in Moscow. RT reports: The comments came soon after NATO Secretary General Jens Stoltenberg spoke at Warsaw University, where he said that the bloc planned to station even more military forces in Europe.