When Liberals Kill, G7 Suicide Pact, Dollarmageddon
May 23, 2024
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Discover the unsettling implications of the assassination attempt on a European leader and the media's tepid response to violence. Dive into the G7's questionable unity as the U.S. ramps up trade tariffs on China. Explore the disintegration of liberal ideology in today's aggressive political climate and how historical perspectives shape current reactions. With China reducing its U.S. Treasury bond holdings, the podcast also unpacks the deepening complexities of global finance and energy competition, raising questions about the future of economic relations.
The assassination attempt on Robert Fico highlights troubling media narratives that may normalize political violence and undermine democratic discourse.
The G7's united stance on trade sanctions against China reflects tensions between U.S. interests and European autonomy in global economic policy.
China's reduction of U.S. bond holdings signals growing concerns over American economic stability and an intentional shift towards de-dollarization.
Deep dives
Implications of the Assassination Attempt
The assassination attempt on Slovakian Prime Minister Robert Fizzo has raised serious questions about the relationship between divisive political rhetoric and actual violence in Europe. Instead of condemning the attack, many media outlets appeared to shift the narrative, suggesting that Fizzo's controversial political stance justified the act of violence against him. This framing evokes a troubling precedent where political figures, especially those with unpopular views, may be seen as responsible for the violence directed at them. The implications of such perspectives could lead to increased political instability and a potential acceptance of political violence as a normal aspect of discourse.
Media Response to Political Violence
The mainstream media response following Fizzo's shooting was notably muted and decidedly problematic, often minimizing the severity of the attack. Various outlets framed the incident in a way that seemed to suggest a logical correlation between Fizzo's divisive politics and the assassination attempt, implying he 'provoked' such violence. This line of reasoning indicates a growing reluctance among media representatives to unequivocally denounce violence, which could enable further political extremism. Such normalization of violence, particularly in politically charged environments, poses significant dangers to democratic processes and civil discourse across Europe.
The G7's Economic Sanctions and Strategic Alignments
The G7 meeting in Italy showcased a united front against perceived threats from China, as the United States pushes hard for joint trade sanctions. Janet Yellen emphasized the need for Europe to align with U.S. interests in sanctioning Chinese manufacturing, particularly in the realm of green technology. However, there exists skepticism among European leaders who must weigh the benefits of adhering to U.S. policy against their own economic interests, especially as they maintain significant trade relationships with China. The potential friction between U.S. directives and European autonomy highlights the delicate balance in international trade dynamics.
China's Shift Away from U.S. Treasury Bonds
In the first quarter of the year, China notably reduced its holdings of U.S. government bonds by $53 billion, reflecting a growing trend of de-dollarization. This strategic decision signals concerns over U.S. fiscal policies and heightened uncertainties surrounding America's economic stability. With China's divestment from U.S. Treasuries, there is an emerging possibility of a long-term fiscal crisis for the United States, should global confidence wane. This shift, in conjunction with China's increasing investments in gold, suggests a deliberate pivot toward solidifying its economic foothold away from U.S. markets.
Pressure on European Car Manufacturers
European car manufacturers face mounting pressure as they consider the implications of proposed U.S. tariffs on Chinese electric vehicles. With leaders in the automotive industry expressing opposition to such protectionist measures, concerns arise about potential trade wars that could disrupt the competitive landscape of the EU auto market. Historically, the European car industry has thrived on global competitiveness, relying on a balanced trade environment to spur innovation. So, the possible shift toward isolationist policies could hamper growth and result in stagnation, impacting both consumers and manufacturers alike.
The assassination attempt on Robert Fico has left Europe bemused.
Shouldn’t it have left Europe stunned?
In an age where condemnation of violent rhetoric has never been fiercer, it seems condemnation of actual violence has seldom been milder.
As we move into a more fractious and populist age, what are the implications of the media’s seemingly divergent views on who it is and is not acceptable to assassinate?
The G7 are meeting in Italy - just after Joe Biden dropped his massive package of trade tariffs onto China.
So in the spirit of “never interrupt your enemy when he’s making a mistake”, are the Europeans going to clap as he blows America’s head off?
Nope — turns out they’re going to join him. We’ll be reporting from the G7 suicide pact.
New figures say that China has dialled down its US government bond holdings by $53 billion in the first quarter of this year. Last week, we gave you the full doomsday 2025 scenario for when the Yuan stops backstopping America. Today we’re giving you the real world here and now version. The long slow slide goes on.
