The global economy is now starting to slow, fading from the World Bank forecast of 3.7 percent to 3.2 percent and in future reports will continue to fade. The US growth levels, like Japan and China are slowing visibly with the China levels a deep concern – note that 2018 actual for China was 6.6%. The Party in China says that the growth level will fade to 6.5% to 6.0% in 2019.
The US economy is coming off a pro-cyclical fiscal stimulus with a tax cut added that could result in a hangover that may make the slowdown more pronounced. The effects of higher interest rates were delayed by the Trump 2017 tax cuts. But the number of uncertainties that range from new jobs created in the tech and service sectors that seem to be hiring aggressively while the number of jobs created in old industries start to fade.
But the world is changing fast, and the recent issues with main stream media clearly points to a world in which people do not understand just how fast the world is moving to uncharted territory. There has never been so much chaos in modern history.
The growth of China seems to be disrupting the Far East and the raise of populism and nationalism to match it. The number of Japanese and South Korean nationalist that have been created in the past 3 years is astounding and note that these nationalists, unlike the US and European types, are almost never checked.
Europe is coming under pressures from lack of growth, in the case of Italy, Spain, Greece and France, as well as budget deficits arising on the back of importing large numbers of unproductive citizens who are not assimilating well in these modern industrialized societies.
Surely questions will be answered as technology is infused into a quickly changing world. But for now the massive disruptions in global supply chains will upend food and energy prices. The world is changing fast. Think about this one topic. If the the free flow of finance and energy are upended, what happens to agriculture, an industry that relies heavily on these two inputs? This is a scary thought for the future.
Four months of demonstrations in France, and no one notices. Two years of the FBI reviewing the President and his work with the Russians, which turns out false and people just walk away saying these things happen. Freshmen congresswomen telling the country what to do, when the freshmen do not even know the three branches of government. And the Speaker of the House smiles and defends these idiots, but no one dare verbally attack AOC – what is going on?