Economist’s “News and Views” Wednesday 3-13-2024

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BRICS against the US: How China Alliance formed

Fastepo:  3-14-2024

China and its allies have formed one of the most notable alliances in the last decade, marking a significant shift from their relationship 50 years ago, which was characterized by tensions rather than cooperation.

The relationship has undergone significant transformation, particularly in the context of strained ties with traditional Western powers like the United States and the European Union. This alliance, underscored by shared interests and mutual support, is reshaping the geopolitical landscape of the 21st century.

The alliance between these two nations has recently strengthened, particularly through their collaboration within the BRICS group.

 In this video, we delve into how this partnership is transforming the global order, focusing especially on the role of BRICS in these dynamics.

https://youtube.com/watch?v=QiD_f4pR1OY%3Fstart%3D60%26feature%3Doembed%26enablejsapi%3D1

Will Gas Become Unaffordable By Year-End? | Paul Sankey

David Lin:  2-12-2024

Paul Sankey, President of Sankey Research, gives his outlook for the oil price in 2024 and the drivers behind the energy market today.

0:00 – Intro

1:15 – Energy market overview

5:14 – AI and energy

11:20 – Geopolitics and oil

24:35 – Oil and inflation

26:13 – Oil and corporate earnings

29:30 – Russian ban on gas

 30:44 – Exxon vs. Chevron

36:20 – Sankey Research

https://youtube.com/watch?v=4U4dC22hGiI%3Ffeature%3Doembed%26enablejsapi%3D1

Credit Crisis Worsens As 75 Million People Stop Paying!

Atlantis Report:  3-13-2024

The U.S. economy is facing a severe credit crisis, as 75 million people have stopped paying their debts, according to a recent report by the Consumer Financial Protection Bureau.

The report reveals that millions of Americans are struggling to repay their loans, mortgages, credit cards, student loans, and other debts due to the combined effects of the pandemic, the recession, the inflation, and the reserve ratio.

 This widespread non-payment of loans, credit card balances, and other financial obligations has sent shockwaves through the banking sector, raising concerns about the solvency of lending institutions and the potential for a cascading effect on the global economy.