By MICHAEL SLOVANOS
THE GLOBAL media this week went crazy this week when the stock markets had a long overdue correction. The “reason” for the big fall was ostensibly Trump’s trade tariff war. But stock markets always find “a reason” for a sudden rise or fall.
Steve Bannon declared after the event “Black Monday has been cancelled”. The big sell-off, as our monthly chart shows, was simply another in a series of corrections over the past decade. This week’s sell-off was comparable to the 2020 Covid-induced sell-off.
“The folks that financed the globalists, the folks that financed all the factories leaving, the folks that essentially bet against the American people, the folks that went long other countries and shorted America, they’re gettin’ crushed,” said Bannon on his daily broadcast.
Bannon goes on to explain that it’s not just the tariff rate that Trump is dealing with, it’s all the gaming of the system, the currency manipulation, the counterfeiting, the trying to get around the rules with “tons of barriers” called non-tariff or non-cash barriers. “This is a total restructuring of the geo-economic order,” says Bannon.
Meanwhile in the media world, there was constant gnashing of teeth and wailing against the “crazy, destructive, irresponsible, disruptive” Trump tariffs. “We haven’t seen this sort of thing for 100 years,” one ABC commentator noted, referring to the common trading practice of the early 20th Century.
Trump’s refrain to media on the tariff question has been that the rest of the world has ripped off the US for decades. He’s referring, essentially, to globalist trade policy pushed by the likes of Henry Kissinger as part of his “great power diplomacy” .
It is undeniable that Trump has simply upended what the elites call the Global Liberal Order, aka the more popularly tagged New World Order. This is the system that deindustrialized the US and continues to deindustrialize countries like the UK, Canada, Australia and New Zealand, now being justified in the name of the “transition to renewables” and “net zero”.
The absurdity of this so-called transition is demonstrated in the fact that China has some 1140 coal-fired power stations, while Australian Labor, Liberal, Teal and Green politicians and various NGOs are beating their chests over the existence of 18 or 19 in this country – soon to be reduced even more.
Meanwhile a documentary by 7News on China’s highly polluting electric vehicle industry has revealed the hypocrisy of both the global environmental and global trade narratives. Under Beijing’s Belt and Road initiative, the Indonesians have created two massive nickel mining complexes called ‘industrial parks’ in Central Sulawesi and on the island of Halmahera, near West Papua.
So, while Australia deindustralizes in the name of a “clean, green net-zero future”, the cheap labor of Indonesia bears the human and environmental burden of digging up the nickel for the batteries to power the silent electric passenger boxes from China.
Meanwhile Australia’s environmentally responsible (but probably over-regulated) home-grown nickel industry has lost 7000 jobs because it simply can’t compete with Indonesia’s cheap labour and low costs of production.
7News revealed that Science and Industry Minister Ed Husic, in league with EV enthusiast Chris Bowen, signed a special agreement with Indonesia on nickel mining, less than two years ago committing both countries to working together on “mapping EV supply chains” – globalism in action.
Husic admitted that the two countries had agreed to “advance mutually beneficial cooperation on battery manufacturing, critical minerals processing and other aspects of the electric vehicle ecosystem”. How cute.
Meanwhile the King Carbon Clown, aka Energy Minister Bowen, is using tens of millions in taxpayer subsidies to help the Chinese EV makers to sell their products with their shiny, cheap batteries.
