North Korea Forms Alliance with Russia

Kim John Un of North Korea watching Stock Markets

On Korea’s liberation day, President Vladimir Putin responded to Kim Jong-Un’s request to join the fight in Ukraine. In a letter to the North Korean dictator, Putin said North Korea had been a friend to Russia since Japan’s defeat during World War II. Kim is calling for “strategic and tactical cooperation, support, and solidarity” between the two nations, and … Read more

Putin’s new gas squeeze condemns Europe to recession and a hard winter of rationing

Europe has previously received 45% of it's annual gas supplies from Russia

Europe’s descent into an economic contraction looks to have been confirmed with Russia squeezing natural gas supplies to the region and heavy industry facing tough rationing in the coming months. Just days after Europeans breathed a sigh of relief as Russian gas giant Gazprom announced it would resume supplies through the Nord Stream 1 pipeline, … Read more

Europe on high alert as Russia temporarily halts gas flows via major pipeline

The Nord Stream 1 pipeline carrying Russian Natural Gas

Europe is bracing for an extended shutdown of Russian gas supplies as maintenance work begins on the Nord Stream 1 pipeline that brings gas to Germany via the Baltic Sea. Operator Nord Stream AG confirmed the work, which is scheduled to run from Monday through to July 21, got underway as planned Monday morning. Russian … Read more

The Inevitable Recession

Recession obsession fears

Summary The negative supply shocks related to COVID and the Russian invasion of Ukraine are causing headwinds for the US economy, which contracted in the first quarter of this year. However, as consumption and investment remain robust, the US is likely to avoid a recession this year. Meanwhile, a wage-price spiral has started that will … Read more

Europol Warns Weapons Shipped To Ukraine Could Be Used By “Criminal Groups” For Years

Weapons shipped to Ukraine could be used by criminal groups for years

In a weekend German media interview the head of the European police agency Europol has issued a dire warning about the huge amount of weapons being pumped from the West into Ukraine. Europol Director Catherine De Bolle told the German newspaper Welt am Sonntag that the flood of weapons on the Ukraine-Russia battlefield could end up in the hands … Read more