3 Crises - Markets Tumble, Europe's War, Canada's Carnage

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Mar 11, 2025

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European policies of degrowth and war, versus Trump's tariffs
Romania's election subverted as leading candidate banned
British will face civil war as elites lose legitimacy
Canada's Liberals elect arch globalist as new PM
Let us be charitable but stand foursquare with the truth

Mar 11, 2025

Crisis one, markets tumble

The markets tremble as two worlds collide — one that is ending; the new world struggling to escape the clutches of the old.

A repricing is underway as economic policy under the Trump administration diverges from Europe; challenging the Green consensus, revaluing resources that were penalised, like oil, timber, and assorted raw materials.

The shift is that new minerals are in demand, smaller nanometers, new processes — not so much new industries but new ways of doing them. Not everyone is ready; even the U.S., more nimble than the EU, is a laggard.

The legacy media rolls out the sophomoric excuse of Trump's tariffs, and we have been waiting to see how the resistance to Trump will differ compared to 2016. Don't doubt for a moment the ability of the City of London to wage financial war on the U.S.

Simultaneously Twitter/X came under a distributed denial of service attack. The media headlined the fall in Tesla's stock price.

As we noted on March 7, The Economist accused Trump of economic delusions. Was that a veiled warning that the dollar and U.S. markets could come under attack from the City of London?

See All Smiles As EU Gears Up For War - Massive borrowing to fund rearmament (Mar 07, 2025)

The European Union's Brussels leadership plunges headlong into war, calling Putin's bluff and that of Trump, hoping he'll back them.

Brussels has only two policies: war and degrowth, an unattractive proposition that one electorate after another has rejected. Yet the same crew clings to power — the "centrists" who brought you the "safe and effective," and now offer military re-armament, purchased at the cost of austerity.

For the greater good, you first…

The war in Ukraine is presented in the legacy media as a collapse of the post-WW2 order. This is wrong. It is a symptom not the cause.

Europe is trapped by its mercantilist history and can only see a world that owes it a living. This was system of extracting raw materials from the colonies at low cost and protecting its own manufacturing behind tariffs (or regulations, which are an effective barrier to entry).

Without its empires — France is in the process of withdrawing from much of French-speaking Africa — Europe has two options: a game of beggar thy neighbour, through remedies that tend to worsen the economic prospects of other countries, or to turn upon and impoverish its own population in a form of white man’s cannibalism.

Of the world's top 50 tech companies, three are European: Schneider, SAP and ASML, but Brussels is very good at regulating and fining Google, Apple and Microsoft.

Europe may turn the corner but for now the talk is of war. The continent has legacy wealth which continues to support the lifestyles at least of the rich. War would soon deplete that.

In a rut

Europe could experience conditions seen in Russia during the shock therapy and collapse of the 1990s.

It's not just the rising number of people reliant on food banks, or even homeless, nor the elderly who have to choose between food and fuel.

It's not only the parallels of drug addiction in the West, compared to Russia in the aftermath of its withdrawal from Afghanistan in 1989. Tumbling life expectancy, people selling their bodies (now online), and savings at the risk of being wiped out by a weakening currency or war requisition.

Europe is run by a bureaucracy that is as out of touch as the Nomenklatura that looked after its own interests as the Soviet Union collapsed.

But it's worse. The late-stage Soviets were cynical. They knew they were lying and being lied to. They had already suffered the kolkhoz (communal farm) and the communistic biology of Trofim Lysenko from the 1930s to the 1960s, and the famines that resulted in the starvation of 70 million, of whom about one-tenth died.

Lysenko was Ukrainian, by the way, like the other architect of the Holomodor Lazar Kaganovich and his understudy Nikita Khruschev. Their boss Stalin was Georgian. Not to point fingers but to correct the record.

Today's nepo-babes (corruption favours nepotism; suppresses meritocracy) believe their own propaganda and are relentless in imposing their ideologically-driven regulations that shut down farms, energy production and industry.

They present the people with a prospect of degrowth in which the only resource left to sell is human: the medical data of the population upon which they experiment — and perhaps their organs.

Bureaucrats have displaced the owners of business in the creation and disposition of wealth that is an important factor in shaping the character and confidence of nations.

Owners are ceasing to call the shots because of the predatory hedge fund culture which makes them an offer they can't refuse. A handful of asset managers own controlling stakes in every corporation. Cross holdings and nominee shareholders make it impossible to know the ultimate beneficial owners.

This, too, is a parallel with the Russia that Western intelligence agencies tried to asset strip, taking control of privatised industries through pliant oligarchs.

Asset managers, like bureaucrats, are not accountable for the daily management of companies. They rule by regulation, which they heap by the shovel-load on managers like manure upon mushrooms.

There are about 240 regulatory agencies in the European Union; 80 per cent of lawmaking by national politicians is simply compliance with EU diktat.

Where once the owner took decisions, opportunistic and swift, today's managers are handcuffed by regulation — not the red tape at which Margaret Thatcher and Ronald Reagan scoffed, but rules driven by ideological conformity.

The system which these poli-crats have rigged makes them wealthy — thus harder to dislodge — by use of the revolving door between private and public sector, to which they can return with their seniority and pension retained, to their previous job or to one of the engorged (non) governmental organisations exposed in the USAID scandal.

They are busy with their fraudulent PCR tests on animals: one false positive and they liquidate livestock by the thousand, or in the case of chickens, suffocate them by the million.

And now they want war. Prime ministers of Poland and Denmark compete to scare the public.

"Russia is rearming so quickly that they could potentially attack a NATO country within a few years," says Mette Frederiksen.

Donald Tusk — "We can feel the unknown is coming" — aims to more than double Poland’s army to 500,000 soldiers, as big as Turkey, and wants nuclear weapons to boot.

Crisis two, Romania rebels

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