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Monday, 27 February 10:48 (GMT -05:00)



Business And Politics News

New Global Crisis Is Coming, Some Experts Say


 

The very fact that more and more populists are getting integrated into the political elite all around the world is a sign that a new global economic and financial crisis is round the corner. Apparently, this is not the reason why the crisis is coming. This is just an indicator telling us just that.

 

Yet, this is not about Western Europe alone. Over the last few years, populism has become the world’s most popular political trend. But the question is, can we talk about one and the same phenomenon with common roots or can we say that the so-called global populism is nothing but fiction?

 

Populists have always come into power during crisis times in the political system as well as the society and economy. When the old school politicians cannot offer the people a distinct way out of the crisis, and plain folks are feeling scared and disoriented, when they don’t know what’s really going on, this is the time when populists start enjoying popularity.

 

Experts say that even though populism is a pretty old phenomenon, the contemporary form of populism has several distinctive features.

 

Peculiarities of today’s crises

 

Up until approximately in the 1960-1970s, all the major crises resulting in populists coming into power boiled down to the conflict between 2 major systems of values – the pre-industrial and industrial value systems.

 

The pre-industrial system of values and relations derives from an economy based on a relatively undeveloped level of commodity production. This means that the production level is low and is designed to serve purely domestic needs. The focus on redistribution rather than external trade. It’s clear that within such an environment the ultimate value is something the very redistribution of goods is based on, which is the ruler’s will.

 

As for the industrial system, it can boast decent production, and that’s why it’s superior to the pre-industrial counterpart. This means that the economy produces way more that it can consume and therefore has to export the goods and use some of the export revenues to cover the producers’ needs. This implies a network of close ties between trade partners. For those ties to work both ends and to be mutually beneficial for the participants, each of them needs guarantees. In this case, the ultimate guarantee is the private ownership right.  

 

Simply put, instead of a vertical hierarchy distributing the goods, we get an environment rich in horizontal ties between equal private owners. The environment naturally tends to go international.

 

Those 2 systems have been competing ever since they both came into existence. Moreover, within each of them, there is a fight going on to get the power and resources. That was enough to trigger major conflicts resulting in severe crises. Since mid the 1900s, a third system has been trying to come into play and dominate. This is the so-called post-industrial system of values, which emerged as the result of the increasing share of intellectual products in the global production value.

 

The thing is, intellectual products have a bunch of specific features preventing them from being included in the industrial system of values and trade relations.

 

By standing out form the crowd, the system creates a whole new ultimate value, which is the right for creative and intellectual self-expression. There is the same clash for resources going on within the 3rd system.

 

The whole point is, the world has got more complicated since there are 3 rivals instead of 2. This leads us to believe that understanding and predicting global processes, which used to be rather complicated, has now become even more complicated and less predictable than ever.

 

That’s why, amid the absence of clear and reasonable theories, most people out there get disoriented, including those who consider themselves as politicians or economists. At the same time, most of those experts keep on living with the old mindset and outlook, which is why they are basically unable to make decent decisions within a new environment and reality.

 

The economic and political picture of today’s world is in crisis. The picture describes the isolated elements of the system and therefore cannot present a complete view of what’s really going on. At the same time, the level of globalization in each and every field of human activities has gone beyond expectation. This only escalated the situation, turning everything into a permanent global economic, political, and management crisis. In its turn, the crisis resulted in permanent public discontent, promoting higher and higher demand for populism.

 

All of the mentioned systems of values are systemic, which means they penetrate each and every field, including politics, economy, etc. This means that each for them is trying to swallow the entire world. Since none of them can co-exist with the others, this is a tough fight going one at each level.

 

Experts say, that the humanity is now living the last couple of decades before facing a global crisis of values. A war for new values is coming. The war will end with one of the 3 systems dominating. No one can definitely tell which one is going to win the war. But one thing is sure, the humanity is on the verge of a new era and a new world.

 

You are free to discuss this article here:   forum for traders and investors

 

Text: Yekaterina Kravets
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Trump’s Statements on Crimea Shocked Moscow

One of the key political news of the last few weeks is an unexpected turn in President Trump's rhetoric. He says that the USA is not going to cancel the anti-Russian sanctions unless Russia gives the Crimea back to Ukraine and starts deescalating the conflict in Donbass. This statement seems to be the opposite one to those he made previously when saying he wanted to make friends with Putting if possible. This statement was made by Sean Spicer, the White House Press Secretary and Communications Director for U.S. President Donald Trump.

Publication date: 24 February 05:10 AM

USA's Ultimatum to NATO: Spend More on Defense

The USA doesn’t seem to want to quit the NATO. However, they are fed up with financing the lion’s share of the alliance.
 
The Pentagon’s ultimatum to the rest of the NATO says:  Either you start spending more money on defense or we start reconsidering our participation in the alliance.
Publication date: 21 February 07:21 AM

Russia Captured the Crimea Because of Obama's Indecisiveness, Trump Says

Donald Trump keeps on making Russia unpleasantly surprised. If a couple of months ago they used to welcome Trump’s victory and hope to make friends with the USA, now they start thinking that maybe Hillary Clinton could have become a better option for Russia as the U.S. President.

 

 
Publication date: 21 February 06:35 AM

Fed Chair Janet Yellen Says Delaying Interest Rate Hikes Is Unwise

According to the Chair of the Federal Reserve, it would be unwise to keep on delaying interest rate hikes. The other day, Janet Yellen told the Board of Directors of the Federal Reserve that they might consider another interest rate hike during the forthcoming FOMC meeting.
 
Publication date: 20 February 11:25 AM

The Guardian Questions Relations Between Trump and Putin

According to a number of political observers, including those working for The Guardian, the relation between the USA and Russia has been begging many questions ever since Donald Trump moved to the White House.

 

 
Publication date: 20 February 05:21 AM

New Secretary of the Treasury Says No to Canceling Sanctions against Russia

Even despite the fact that Donald trump unexpectedly become the 45th President of the United States, and he seems to be more loyal to Russia than any U.S. leader over the last couple of decades, Russia has still been failing to find a common language with the USA.
 

 

Donald Trump started his presidency with unpopular decisions. Some of his policies are not welcomed by politicians from both parties, not to mention mass media, secret services and millions of U.S. citizens. Maybe Putin was hoping that Trump would start helping Russia implementing its imperial ambitions despite the public discontent in the USA. But those hopes now seem to be broken. The sanctions will stay effective until Russia gives the Crimea back to Ukraine. That’s the standpoint put forward by Trump’s administration.
Publication date: 20 February 12:03 AM

Trump Leaves Putin Without Key “Trump”

The dialog between Vladimir Putin and Donald Trump is following an unexpected scenario. It’s unexpected for Moscow. The Kremlin seems to have lost their key “trump” card in the talks with Washington.

 

 
According to some military experts, even the most unbiased Russian media ignored a sensational statement published by Reuters. To be more specific, Reuters claimed that during the recent phone call to Washington, Putin told Trump that he was ready to discuss the possibility of extending the agreement to cut nuclear arms. The agreement was signed in 2010 in Prague and will expire in 2020.
Publication date: 19 February 03:22 PM

Trump Wants Big Deal with Russia. What May Come out of It?

It’s seems like Donald Trump doesn’t mind creating some kind of an alliance with Vladimir Putin. Is so, can he succeed or will he become another U.S. president fooled by Putin. This is the question a number of international experts are trying to answer.
 

 

For now, the details of the plan are vague. The current ambiguity existing among the representatives of Trump’s administration hints at this fact. Even when the USA's Permanent Representative to the United Nations demanded for the condemnation of Russia’s aggression in Ukraine, Donald Trump seemed to still have some hope for making friends with Putin. At the same time, he wouldn’t dare say something like ‘the USA is as blood-thirsty as Russia’.
Publication date: 19 February 01:48 PM

Scotland Is Against Brexit

The House of Commons of the British Parliament decided that Prime Minister Theresa May should fulfil the people’s will expressed during the Brexit referendum in summer 2016 and launch the Brexit procedure to quit the European Union. This means that the British government is allowed to start the negotiation with Brussels over the terms and conditions quitting the European Union for good.
 
Publication date: 19 February 05:22 AM

Senate Prepares a Draft Law Forbidding to Cancel Anti-Russian Sanctions

Several members of the U.S. Senate led by ben Cardin and Lindsey Gram prepared a draft law designed so as to make the White House provide the Congress with a detailed explanation if at some point in the future the U.S. Presidents decided to cancel the sanctions imposed on Russia. On top of that, 120 days after the explanation is provided, the Congress will decide whether to support this initiative.
 
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