We've just seen huge market volatility. This week promises more given it’s month and quarter end with key positioning, portfolio reallocation, and short squeezes all in play. On top of that, the news continues to underline the central thesis: that the ‘one size fits all/one world for all’ neoliberal/liberal/’new normal’ system is collapsing.

Red v Blue

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On Monday a major DDOS attack has targeted Lithuania's national network infrastructure, more than a week after EU sanctions took effect for Kaliningrad, and neighboring Lithuania took the dramatic step of banning land transport of goods, including transport of steel and ferrous metals to the Russian exclave.

President Joe Biden urged G7 leaders to “stay together” against Russia’s war on Ukraine. While kicking off the summit in the Bavarian Alps on Sunday, leaders agreed to strengthen sanctions by banning imports of Russian gold. The move came shortly after Russian missiles rained down on Kyiv earlier that morning and is additional effort to weaken Russia’s economy.

After an unexpected rise in US durable goods orders (in May) and pending home sales (in May), the Dallas Fed's Manufacturing Survey (in June) plunged to its lowest since May 2020.

 

The survey was expected to rise modestly from -7.3 to -6.5, but plunged to -17.7. New Orders crashed into negative territory and employment weakened significantly.

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The concept of eastern opposition to globalist institutions is a fanciful one driven perhaps by people's hopes that some country somewhere is going to “make a stand” against the agenda.  Unfortunately, the vast majority of nations are irrevocably tied to the machinations of global banks.

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Lithuanian President Gitanas Nauseda wants his country's government to immediately begin consultations with the European Commission, regarding the possible implementation of sanctions on Kaliningrad transit.

A bipartisan bill introduced on June 13 designed to protect American manufacturing in industries vital to national security is being opposed by major corporations and trade groups with interests in China.

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Summer blackouts during heat waves could be deadly. Many people relying on air conditioners running off electricity may find themselves in intense and even deadly situations.

Experts say that the electrical power grid is strained and the United States is expected to suffer from rolling blackouts this summer.

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