Society's ChildS


Footprints

Pelosi: More migration is 'the best thing...for our economy'

Neil Munro
Breitbart
Fri, 30 Sep 2022 00:00 UTC
Pelosi Migrants
© Guillermo Arias/Tasos Katopodis/Pool/AFP/Getty Images/BNNNancy Pelosi and migrant caravan
Congress can best help the American economy by importing more lower-wage, lower-skill workers for companies that would otherwise hire Americans and invest in high-tech machinery, according to House Speaker Rep. Nancy Pelosi, (D-CA). She told Capitol Hill reporters: "Right now, the best thing that we can do for our economy is to have comprehensive immigration reform."
Art Arthur, a former immigration judge who now works for the Center for Immigration Studies, countered:
"When you import cheap labor, you take away the incentive for businesses to raise wages. So long as you have a steady supply of cheap labor, you don't make the sort of investments in training and infrastructure that you would otherwise."
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Footprints

West African country's junta ousted in coup


RT
Fri, 30 Sep 2022 23:17 UTC
Azaria Sorgho
© RTB/APCoup spokesman Capt. Kiswendsida Farouk Azaria Sorgho
Ougadougou, Burkina Faso • September 30, 2022
A faction of the Burkina Faso military claimed power in Ouagadougou on Friday, in the second coup d'etat in the West African country this year. Captain Ibrahim Traore has replaced Lieutenant Colonel Paul-Henri Damiba at the head of the military junta, citing his failure to deal with an Islamist militant insurgency. Damiba had rejected the officers' proposals and continued with policies that had led to the fall of the previous government.

Traore said in a statement he read on national television on Friday evening, announcing the takeover:
"Faced with the deteriorating situation, we tried several times to get Damiba to refocus the transition on the security question. Damiba's actions gradually convinced us that his ambitions were diverting away from what we set out to do. We decided this day to remove Damiba."
The new junta pledged to maintain all of Burkina Faso's commitments and urged the civilian population "to go about their business in peace." However, the country's borders have been closed indefinitely and all political and civil society activities suspended.
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Stock Down

London gold dealer runs out of bullion amidst shocks to UK economy

Eddie Spence
Bloomberg
Sat, 01 Oct 2022 15:29 UTC
gold price 2022
We anticipate we will continue to see an upward trend in people using gold as loan collateral in the coming months.' said Jim Tannahill
When the pound slumped as Kwasi Kwarteng presented his mini-budget, some Britons rushed to the safety of a haven that's recently lost its luster: gold.

As the UK currency slid to an all-time low early Monday, bullion priced in pounds climbed close to a record. That would typically encourage selling and deter buyers, but this time round the turmoil in British bond and currency markets increased the allure of the precious metal.

"Buying has increased exponentially," said Ash Kundra, who runs coin dealer J Blundell & Sons in London's historic Hatton Garden jewelry quarter. "I keep running out of coins, I keep running out of bars."

Comment: Contrary to some of the speculation above, clearly there is a lot more going on to the regional and Western economies than just the UK governments recent budget announcements:


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Stock Down

'Chaotic market breakdown' looms as Federal Reserve split over rate hike

Tyler Durden
Zero Hedge
Sat, 01 Oct 2022 22:00 UTC
banks west crash 2022
Back in early 2018, around the time the Fed was confident it could hike its way to around 4% without an accident, and with balance sheet QT on "autopilot", we first warned that every fed tightening cycle leads to a crisis.


A few months later, in late December, this was confirmed when the Fed panicked and ended its tightening cycle very prematurely. Shortly after it started restarted (NOT) QE, which was then followed by the liquidity supernova that was the covid global lockdowns, and everyone knows the rest.

So fast forward to the start of 2022, when just as the Fed was setting off on its latest tightening campaign, we again reminded readers that "every Fed tightening cycle ends in disaster and then, much more Fed easing."

Comment: See also:

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Stock Down

Credit Suisse at 'critical moment' as stock prices crash below levels seen during 2008 financial crisis

Marion Halfter
Bloomberg
Fri, 30 Sep 2022 18:48 UTC
Credit Suisse
© Keystone / Michael BuholzerFILE PHOTO
Credit Suisse Group AG's Chief Executive Officer Ulrich Koerner said the bank is at a "critical moment" as it prepares for its latest overhaul, while stressing the bank's strength.

In the second carefully-worded memo sent to reassure staff in as many weeks, Koerner told employees not to confuse the "day-to-day" stock price performance with the Swiss firm's "strong capital base and liquidity position." The shares are hovering near a record low.

Comment: More reporting on the situation:






See also: UK pension funds bond crash prompts historic Bank of England emergency intervention

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Newspaper

Video shows major fire break out at Crimean airfield as military aircraft skids off runway


RT
Sat, 01 Oct 2022 19:33 UTC
crimea runaway fire
A blaze broke out at the Belbek airfield near the city of Sevastopol after a military aircraft skidded off the runway
A military aircraft loaded with ammunition skidded off the runway at an airfield in Crimea on Saturday, resulting in a major fire, according to the local authorities.

Photos and videos published on social media showed massive plumes of black thick smoke billowing over the area where the Balbek military airfield is located not far from the port city of Sevastopol. Some witnesses also claimed to have heard explosions in the area.

The incident at the airfield was caused by a military aircraft, Sevastopol Mayor Mikhail Razvozhaev said in a Telegram post. The aircraft skidded off the runway while landing and caught fire, according to the mayor, citing local emergency services. Later, Razvozhaev also said that the ammunition onboard detonated.
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Dollar

Hurricane Ian's damage to Florida fertilizer plant creates 'concern' about rising food prices

Kristen Altus
Fox Business
Thu, 29 Sep 2022 12:19 UTC
Fertilizer
© Getty ImagesMosaic Co.'s North American phosphate operation amounting to 50% of North American farmers' granular phosphate fertilizer.
Food industry analyst warns rising ingredient costs 'work their way into' prices at the grocery store

With Hurricane Ian forcing the temporary closure of one of America's largest fertilizer production facilities, food industry and agriculture experts are warning it could cause a spike in grocery store prices.

Morning Consult analyst Emily Moquin told FOX Business' Jeff Flock Thursday:
"There's concern about storm surge, flooding, things that could impact land use, whether it's for growing crops, whether it's for fertilizer, and eventually those things to work their way into the ingredient costs and then work their way down through the system to the prices that we see in the grocery store."
While Flock noted in his "Varney & Co." report that it's not currently peak fertilizer season, Hurricane Ian forced Florida fertilizer maker Mosaic Co. to halt operations across Polk County for an unspecified amount of time as disaster relief efforts get underway.

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Flashlight

Norwegian energy operators spotted unidentified drones before Nord Stream blasts


RT
Fri, 30 Sep 2022 16:53 UTC
Nord Stream
© AFP / Danish DefenseGas leak along one of the damaged Nord Stream pipelines
Norway's offshore energy operators reported an increasing number of unidentified drones near their platforms in the days leading up to the apparent sabotage of the Russian Nord Stream 1 and 2 gas pipelines.

The Norwegian Petroleum Safety Authority held a meeting with members of the country's oil and gas industry on Thursday, warning them that recent reports indicated "increased drone activity" over the Norwegian continental shelf (NCS).

"These craft have been of different sizes, and their presence has been growing - particularly in September," the agency stated, adding that the drone sightings are being investigated by the Norwegian police.

In a letter dated last Friday, the agency warned Norway's maritime and aviation authorities that energy operators on the NCS had "recently given warnings/notifications of a number of observations concerning unidentified drones/aircraft close to offshore installations."
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X

Ex-Polish FM deletes tweet implying US sabotaged gas pipeline


RT
Fri, 30 Sep 2022 20:49 UTC
Radek Sikorski, pipeline tweet, Nordstream
Polish MEP and former foreign minister Radoslaw Sikorski has deleted a tweet in which he thanked the United States for apparently blowing up Russia's Nord Stream gas pipelines. Sikorski still reckons the US had the "motive and the ability" to sabotage the lines.

After the Nord Stream 1 and Nord Stream 2 pipelines lost all pressure on Monday following a series of underwater explosions off the Danish island of Bornholm, Sikorski took to Twitter to gloat, posting a photo of a massive gas leak in the Baltic Sea and declaring, "Thank you, USA." He added that the apparent act of sabotage means that Russia will now need to negotiate with Ukraine and Poland to ensure the continued flow of gas to Europe.

As of Thursday, Sikorski has deleted his thank-you message to Washington. In a tweet posted on Wednesday, he clarified that he was "glad that the Nordstream ... is paralyzed."

"I naturally make working hypotheses about who had the motive and the ability to do so only on my own behalf," he stated.

Comment: See also:

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Russian Flag

'I can't imagine our future differently': Donbass residents explain why they voted to join Russia

Vladislav Ugolny
RT
Fri, 30 Sep 2022 20:22 UTC
Luhansk, referendum, Russia, Russian referendum
© Sputnik / Evgeny BiyatovA girl votes in a referendum on the accession of the Luhansk People's Republic to Russia at a polling station.
Last week, referendums on once-again becoming part of Russia were held in the Donetsk (DPR) and Lugansk (LPR) People's Republics, as well as in the liberated territories of Zaporozhye, Kherson, and Nikolaev regions (the latter was annexed to Kherson Region).

According to the results, the 'For' option won all four by an overwhelming margin. RT's correspondent in Donbass, Vladislav Ugolny, has been observing the sentiment there for the past eight years. He describes how the referendums took place, what they meant to local residents, and why their outcome simply could not have been different.

All arguments 'against'

For those who are sufficiently immersed in the history of the struggle of the Russian residents of Ukraine for unity with their historic homeland, the results of the referendums are hardly surprising. But it is also worth pointing out from the start that not everyone in these regions took part in the vote.

In 2020, one soldier told his comrades-in-arms that he was only serving in the DPR army for the sake of a good salary by local standards. He said that, at the time, he was ready to dig trenches and go on guard duty. But in case of a resumption of active military operations, he would be at Yuzhny, a station from which buses are dispatched to Russia.

Active hostilities resumed over six months ago, eventually leading to the second referendum in Donbass. And this warrior did not take part in it.

Why? Did keep his word and escape? No, he died in 2021. He could have said anything - soldiers like to scratch their tongues. But when his comrades-in-arms came under Ukrainian fire and their wounded had to be evacuated, he volunteered. During the rescue operation, he was killed in action. He did not live to see the fighting intensify, nor did he live to see the new referendum.
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