Every day it is the same story. Almost every sign than we have been given to watch for this generation is now seen on a daily basis. Whether its the quakes, pestilence, famine, the growth of the EU, the movement towards globalism, financial collapse, world government, the steps towards the totalitarianism of the Tribulation, wars and rumors of war, the set-up for Gog-Magog, the rise of radical Islam, persecution, and on and on that list goes. We have reached a point in the birth pains where the contractions occur daily now, rather than episodic "bursts" infrequently, as it used to be.
Today is no exception and this first article (in full below) reveals how the previous "land of the free" is rapidly approaching the totalitarian status that we used to fight against:
“Is anyone present carrying more than ten marks, or planning to take out of the country any foreign money, gold, jewels, or other valuables?” demanded the German customs inspector after boarding the Innsbruck-bound train. “Any violation of the law will be punished with penal servitude –special cases by death.”
Freya Roth, a single woman in her 20s traveling with her mother and younger brother, produced her passport and handed it to the inspector. After the document was stamped, the truculent bureaucrat noticed the young lady’s luggage.
“Whose suitcase is that?” he snapped, his voice colored with an implied threat. “Take it down – open it.”
“It isn’t locked,” Freya said quietly, her brows drawn together in worried puzzlement. Before she had finished the sentence the inspector had torn open the luggage and started to paw through it. A comrade noticed a large bound volume on the shelf above Freya’s seat. He retrieved it and began to pore over its handwritten pages.
“What is that – code?” the policeman inquired of Freya.
“No – it’s a physiological treatise,” she replied, proudly explaining that it had been written by her late father, Professor Victor Roth.
Radiating hostile disapproval, the inspector handed the manuscript to a Gestapo officer who had been looming in the background, a silent monolith of murderous menace.
“Why are you taking this out of the country?” the officer barked at Freya. “You intend on publishing it abroad?”
Freya tried to explain that she kept the book with her because it was her father’s last work, which was enough to implicate her as an enemy of the State.“I can’t take the responsibility of allowing you to cross the border with this document,” sniffed the officer as if he owned Freya and everything in her possession. “This is a matter that can only be decided by my superior.”
Freya was taken to a local police station where she was detained for five days for possession of contraband – “a seditious production sustaining a theory destructive to the new ideals.”
“You belong – in part – to the German race, but by your action you show yourself unworthy to represent that race abroad,” the police commander explained to Freya, alluding to her paternal Jewish ancestry. “You will report to the police daily. Let me warn you to be extremely careful in your conduct, and in your contacts. That is all.”
The traumatized woman was “released” to life as an inmate in an open-air prison. She had been condemned and dispossessed without a trial as the result of a warrantless search of her effects during a routine train trip.
Freya’s Nazi-era experience, depicted in the 1940 film The Mortal Storm, was a fictional parable intended to shock its American audience: Imagine what it would be like to live in a country where police could board a train, rifle through your luggage, confiscate anything of value they found, and detain you indefinitely if they found suspected contraband in your possession.
I don’t know if Aaron Heuser, a mathematician from Eugene, Oregon, is familiar with “The Mortal Storm.” He doesn’t need to see the movie – he has lived it.
As Heuser recounted to Conor Friedersdorf of The Atlantic magazine, during an Amtrak trip from Eugene to Washington, D.C. last fall, he received an unwelcome visit in his sleeper compartment by a DEA agent whose comportment was indistinguishable from that of the cinematic Nazi officials who terrorized Freya Roth.
The DEA agent addressed Heuser by name and claimed that his trip had raised numerous “red flags” – specifically, that “I had a sleeper car, was traveling alone, and did not check my luggage.”
When the officious pest demanded access to the sleeper compartment and Heuser’s personal effects, the traveler refused. Undeterred, the agent informed Heuser “that he was going to bring a dog, walk it by my room, and that if it alerted, my room would be searched. He told me that I could not argue this and that I was not allowed to be present for the search.”
Like nearly everything else that emerges from the tax-devouring skull cave of a DEA official, that claim was a lie. Heuser had every right to be present during the search, but the agent insisted that he absent himself because “the dog might bite me.” In retrospect, and perhaps at the time, that statement could be seen as a threat garbed in the unpersuasive disguise of solicitude.
As Heuser strode toward the dining car, he was stalked by a second DEA operative who tried to get him to leave the train, where he would be surrounded by other law enforcement officers.
“The officer followed me, telling me that they know I am transporting drugs, and if I have any for personal use, they do not care, and it would be easier if I just told them,” Heuser told The Atlantic. “I said that was nice to know, then kept walking.” Yet another DEA operative tried to gain access by pretending that “someone was hiding in my bathroom.”
When Heuser was finally allowed to return to his compartment, “I found my backpack moved and open, and my wallet, which was set down on the room table, had $60 missing.” He was told by a dining car attendant that “Amtrak is forced to give passenger info to the Feds, that the DEA comes on every trip, usually arresting someone in the sleeping car or taking all their money.”
That Amtrak employee did not engage in hyperbole, as Joseph Rivers can testify. The 22-year-old native of Romulus, Michigan, was robbed by DEA agents when his Los Angeles-bound train was stopped and searched in Albuquerque. Rivers, who entertained ambitions of becoming a music video producer, was carrying his life savings — $16,000 in cash – in a bank envelope.
Behaving precisely like his fictional Nazi analogues from “The Mortal Storm,” the DEA agent confiscated every penny of Rivers’ life savings without arresting him or charging him with a crime. Under the Justice Department’s civil asset forfeiture program, possession of large sums of cash or other exceptional wealth – “gold, jewels, or other valuables,” as the customs inspector put it in the film – is sufficiently suspicious to justify confiscation.
“We don’t have to prove that the person is guilty,” gloated a DEA agent when asked about the incident by the Albuquerque Journal. “It’s that the money is presumed to be guilty.” Sean Waite, the DEA’s Ortsgruppenleiter for Albuquerque, bragged to the Albuquerque Free Press that his he and his squalid associates have harvested about $1 million from travelers passing through that city on Amtrak’s Southwest Chief.
Setting aside questions about the wisdom of carrying his entire life savings in cash, Joseph Rivers’ experience is especially poignant, given that he could just as easily have been robbed by his local police.
Between 2003 and 2007 – the years of Rivers’ adolescence – Romulus witnessed a 118 percent increase in forfeiture revenues despite the fact that there was no corresponding increase in criminal activity. A similar trend was seen on the part of law enforcement agencies throughout Wayne and Oakland counties. The forfeiture take by police in Novi went from $12,278 to $2.7 million. The Wayne County Sheriff’s Office netted $8.69 million in 2007, four times the haul its banditti seized in 2001.
Sgt. Dave Schreiner, the head of Canton Township’s forfeiture unit, was admirably forthright in defending civil forfeiture as his department’s chief cash conduit: “Police departments right now are looking for ways to generate revenue, and forfeiture is a way to offset the costs of doing business…. You’ll find that departments are doing more forfeitures than they used to because they’ve got to — they’re running out of money and they’ve got to find it somewhere.”
Bear in mind, once again, that this defense of forfeiture was offered at a time when the non-official crime rate was holding steady, and by some measurements in a modest decline. Acting with the irrepressible predatory instinct that guides all State institutions, the police responded to this state of affairs by carrying out a crime wave of their own.
For the privileged plunderers of Romulus and the surrounding towns, preying on the public was encouraged and rewarded – but holding back any of the loot from your cohorts was a grave offense. This is why former Romulus Police Chief Michael St. Andre, his wife, and several members of his Special Investigations Unit will spend time in prison.
The Nazis’ reputation for self-denial was largely unearned. Their version of totalitarianism is as dead as their Fuhrer, but their tactics are widely employed by the enforcement caste in America’s Homeland Security State – a fact that either is or soon will be apparent to anybody seeking to exercise the right to travel unmolested.
Recall the question asked by the Nazi customs inspector in “The Mortal Storm”: “Is anyone present carrying more than ten marks, or … any foreign money, gold, jewels, or other valuables?” That same question was posed – almost verbatim – by Idaho State Trooper Justin Klitch following a pretext stop of Colorado resident Darien Roseen a few miles from my home in January 2013.
“How much cash is in the vehicle?” asked Klitch after bullying the elderly man into opening the trunk of his vehicle and pretending to detect a “strong odor of marijuana” emanating from the interior. “Do you have any gold, any high-value items in this vehicle?” That question provided a good and sufficient demonstration of Klitch’s true motive in making the stop: He was looking for loot, rather than contraband.
Like the fictional Freya Roth, Roseen endured a lengthy and entirely unwarranted detention after Klitch hijacked his SUV. A thorough search of the vehicle yielded neither gold, nor jewels, nor marijuana.
A growing number of Americans who need to travel but want to avoid molestation or irradiation at airports have taken to the roads or the tracks, only to find that the TSA and its comrades will not leave them alone.
In the film, Freya and her family were interrogated and subject to detention by Nazi customs officials at a border crossing. Americans can have that experience – which can quickly escalate to threats of arrest and a life-threatening assaultwith a deadly weapon – up to 100 miles inside the national border.
Travelers aren’t free from such potentially lethal harassment if they use routes deep within the country’s interior. Multi-jurisdictional task forces called Visual Intermodal Prevention and Response (VIPR) teams swarm bus and train stations, and even conduct highway checkpoints.
As the redoubtable James Bovard points out, the attitude of our rulers toward travelers “is best summarized by the motto posted at the headquarters of the TSA air marshal training center: `Dominate. Intimidate. Control.’”
Whatever their native tongue, totalitarians from every culture speak the same language.
A 5.6 magnitude earthquake has struck Tokyo and nearby areas, the Japan Meteorological Agency said, setting off alarms and halting the city's subway system.
The earthquake struck at about 2:28pm local time at a depth of 50km, weather services reported.USGS, however, put the Japanese earthquake at a magnitude of 5.3.
The quake was centered in Ibaraki Prefecture, Kanto Region on the main island of Honshu. The prefecture has a population of about 3 million. According to the US Geological Survey, the quake took place 34km from Tokyo, a city with a population over 13 million. It also struck 2km from the town of Hasuda and 3km from Shiraoka.
A powerful earthquake shook central Tokyo on Monday afternoon, causing temporary suspension of the area’s train system and the runways at one of the capital’s airports.
The magnitude 5.5 quake—centered on the northern part of Saitama prefecture, northwest of Tokyo, and 56 kilometers (35 miles) below ground—struck at 2:28 p.m. local time (0528 GMT), according to the Japan Meteorological Agency.
It measured a lower 5 on Japan’s earthquake scale in southern Ibaraki prefecture northeast of Tokyo. The scale has a highest reading of 7. There was no danger of tsunami, the agency said.
Still, there could be aftershocks of up to level 4 on the intensity scale over the next week, an agency official said at a news conference. No aftershocks had been detected as of 0620 GMT, he added.
The official also warned of the possibility of falling rocks and landslides in areas where there had been strong shaking. No serious injuries have been reported.
The ocean is dying, by all accounts – and if so, the food supply along with it. The causes are numerous, and overlapping. And massive numbers of wild animal populations are dying as a result of it.
Natural causes in the environment are partly to blame; so too are the corporations of man; the effects of Fukushima, unleashing untold levels of radiation into the ocean and onto Pacific shores; the cumulative effect of modern chemicals and agricultural waste tainting the water and disrupting reproduction.
A startling new report says in no uncertain terms that the Pacific Ocean off the California coast is turning into a desert. Once full of life, it is now becoming barren, and marine mammals, seabirds and fish are starving as a result. According to Ocean Health:
The waters of the Pacific off the coast of California are a clear, shimmering blue today, so transparent it's possible to see the sandy bottom below […] clear water is a sign that the ocean is turning into a desert, and the chain reaction that causes that bitter clarity is perhaps most obvious on the beaches of the Golden State, where thousands of emaciated sea lion pups are stranded.
[…]
Over the last three years, the National Oceanic and Atmospheric Administration (NOAA) has noticed a growing number of strandings on the beaches of California and up into the Pacific north-west. In 2013, 1,171 sea lions were stranded, and 2,700 have already stranded in 2015 – a sign that something is seriously wrong, as pups don't normally wind up on their own until later in the spring and early summer.
"[An unusually large number of sea lions stranding in 2013 was a red flag] there was a food availability problem even before the ocean got warm." Johnson: This has never happened before… It's incredible. It's so unusual, and there's no really good explanation for it. There's also a good chance that the problem will continue, said a NOAA research scientist in climatology, Nate Mantua.
Changing temperatures in the Pacific Ocean, driven by the natural cycle of gyres over decades, shifts wildlife populations, decimating the populations of species throughout the food chain, proving how fragile the balance of life in the ocean really is.
Recently, the collapse of the sardine population has created a crisis for fisheries and marine wildlife alike on the West Coast:
According to a report in the Daily Mail, the worst events have wiped out 90% of animal populations, falling short of extinction, but creating a rupture in food chains and ecosystems.
[Video Link]
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The Obama administration is set to unveil new protections for America’s bodies of waters that detractors say will give the Environmental Protection Agency broad powers to regulate thousands of businesses and homeowners.
The EPA’s “waters of the United States,” or WOTUS, regulation is set for issuance this week, the Hill reported. Its premise is to provide more protection for minor bodies of water, like wetlands, streams and ponds, using the authorities already granted the feds under the 1972 Clean Water Act.
Opponents say the measure goes too far and will strictly regulate the activities of businesses and residents, while providing little in terms of reducing pollutants. Farmers, miners, developers and manufacturers say the rule would even clamp down on land uses by ditches, dry creekbeds, puddles and even soggy grounds, the Hill reported.
Finland, Norway and Sweden are readying for one of Europe’s largest fighter jet drills this year – the Arctic Challenge Exercise 2015, kicking off on Monday. Nine northern countries are taking part, with up to 90 aircraft expected in the sky at once.
Eurofighter Typhoons, Tornado GR4 fighters, as well as Lockheed Martin F-16s are just some of the aircraft that will take part in what Norway’s chief Brigadier General Jan Ove Rygg calls “orchestration and conduct of complex air operations, in close relation to NATO partners,” as cited by the Norwegian Armed Forces press release.
The jets will be joined in the air by various other multirole aircraft, among them NATO’s early warning and control jets, known as AWACS, and the DA-20 Falcon Jets, specializing in electronic warfare.
Among the participants are the United States, the United Kingdom, Switzerland, the Netherlands, Germany and France.
The games, to last for 12 days, will include close to 4,000 personnel, together with European and American planes adding to the list of equipment put forth by the three organizers.
The maneuvers are to take place close to the Arctic Circle – an area of much contention between the regional and major world powers of the United States, Russia, Canada, Denmark and Norway.
The Islamic State claimed in the latest edition of its English-language magazine that a nuclear attack by jihadists on the United States is “infinitely more possible today” than it was a year ago.
The article, published last week in the radical Islamist group’s English magazine Dabiq and attributed to hostage British photojournalist John Cantlie, claimed the Islamic State has billions of dollars with which it could “purchase a nuclear device through weapons dealers with links to corrupt officials” in Pakistan.
Cantlie has been held captive by the Islamic State for over two years and has been used as a mouthpiece for the organization in a series of propaganda films published online titled “Lend Me Your Ears.”
Last week’s article, titled “The Perfect Storm,” suggested a “hypothetical” situation in which IS would transport the nuclear weapon to Libya, then across the Atlantic and covertly into the United States through a smuggling tunnel under the border with Mexico.
“The Islamic State make no secret of the fact they have every intention of attacking America on its home soil and they’re not going to mince about with two mujāhidīn taking down a dozen casualties if it originates from the Caliphate,” the propaganda magazine said. “They’ll be looking to do something big, something that would make any past operation look like a squirrel shoot, and the more groups that pledge allegiance the more possible it becomes to pull off something truly epic.”
The Islamic State claimed in the latest edition of its English-language magazine that a nuclear attack by jihadists on the United States is “infinitely more possible today” than it was a year ago.
The article, published last week in the radical Islamist group’s English magazine Dabiq and attributed to hostage British photojournalist John Cantlie, claimed the Islamic State has billions of dollars with which it could “purchase a nuclear device through weapons dealers with links to corrupt officials” in Pakistan.
The Islamic State group has suggested it could buy a nuclear weapon over the next year and smuggle it into the U.S. from Mexico.
The claim was made in an article allegedly penned by British hostage John Cantlie in the latest issue of Dabiq, the group’s English-language propaganda magazine.
The article titled “The Perfect Storm” alleges that the group has amassed enough funds to purchase the weapon from Pakistan.
“Let me throw a hypothetical operation onto the table. The Islamic State has billions of dollars in the bank, so they call on their wilayah [province] in Pakistan to purchase a nuclear device through weapons dealers with links to corrupt officials in the region,” the magazine stated.
According to the hypothetical scenario, the weapon could be transported on land to Libya then moved to Nigeria, after which it would be loaded onto a ship used normally for illegal drugs. Eventually it would get to Central America, then Mexico and into the U.S.
“From there it’s just a quick hop through a smuggling tunnel and hey presto, they’re mingling with another 12 million ‘illegal’ aliens in America with a nuclear bomb in the trunk of their car,” Cantlie allegedly wrote.
The magazine asserted that the Islamic State is “looking to do something big, something that would make any past operation look like a squirrel shoot, and the more groups that pledge allegiance the more possible it becomes to pull off something truly epic.”
ROYAL Navy chiefs have directed the fleet’s biggest warship to spearhead high-level Nato war games in the Baltic, as part of a direct response to Moscow’s increasing “military surveillance” of the West.
The exercise will also feature American B-52 nuclear bombers, which became the ultimate Cold War symbol as they stood on alert for decades ready to strike the Soviet Union.
Backing from Prime Minister David Cameron will boost Britain’s profile across Europe at a time when the Government is about to start talks over his EU reform agenda.
However the main concern remains increasing Russian aggression. Earlier this week Finland sent letters to its 90,000 reservists warning them of their potential “war role”, as political and military tension with Russia spreads.
Nato’s top UK general, Sir Adrian Bradshaw, warned that while the alliance is a defensive organisation it will not accept the spread of Russian violence in the Ukraine.
Tensions between the Russian Federation and the West have soared since President Putin ordered the annexation of Crimea.
Backing from Prime Minister David Cameron will boost Britain’s profile across Europe at a time when the Government is about to start talks over his EU reform agenda.
However the main concern remains increasing Russian aggression. Earlier this week Finland sent letters to its 90,000 reservists warning them of their potential “war role”, as political and military tension with Russia spreads.
Nato’s top UK general, Sir Adrian Bradshaw, warned that while the alliance is a defensive organisation it will not accept the spread of Russian violence in the Ukraine.
Tensions between the Russian Federation and the West have soared since President Putin ordered the annexation of Crimea.
Born into Generation X, I grew up with the threat of nuclear war -- and all its corollaries, from visions of mushroom clouds to "duck and cover" drills in high school to Terminator movies, and of course, the ever-present worry that one day a sneaky Soviet satellite would detonate way up in the sky and fry all of our electronics with an "electromagnetic pulse."
So imagine my surprise when the U.S. Air Force confirmed last week that it's developed an electromagnetic pulse weapon of its own, and that Boeing (NYSE: BA ) is helping to build it.
The weapon in question: Boeing's "CHAMP," short for Counter-electronics High-powered Microwave Advanced Missile Project. It's essentially the old nuclear electromagnetic pulse weapon that we used to worry so much about -- but without the nuclear part. CHAMP carries a small generator that emits microwaves to fry electronics with pinpoint accuracy. It targets not nations or cities but individual buildings, blacking out their electronics rather than blowing up physical targets (or people).
What makes CHAMP even more interesting is that, unlike a nuclear electromagnetic pulse weapon, which fires once, blacking out entire nation-states, CHAMP can fire multiple times, pinpointing and blacking out only essential targets. This would permit, for example, taking down radar defenses in a hostile state, while saving the electrical grid that supports the civilian population. In a 2012 test flight in Utah, a single CHAMP was reported to have blacked out seven separate targets in succession, in one single mission.
The Senate has given Obama authority to ‘fast-track’ controversial trade legislation with East Asia and the EU, and it remains to be seen if the House of Representatives can stop the bill before it’s too late.
The so-called ‘fast-track' legislation limits Congress' ability to tweak the opaque details of Obama's trade deals with East Asia and the EU, allowing them to vote only yes or no on the entire package as a whole. The Administration is urging Congress to push the bill through so that the President can supposedly be in a stronger position to negotiate with his foreign counterparts. The real reason for the hurried rush, however, is that the US wants to jam the secretive trade package through before the election season heats up next year, and also before the EU public wakes up to the fact that the Trans-Atlantic Trade and Investment Partnership (TTIP) is in fact a very unbalanced and neo-colonial deal for the continent.
TTIP is essentially the institutionalization of the already uneven economic relations between the US and the EU. For starters, the US successfully pressured the EU to sanction one of its largest trading partners, Russia, for purely political reasons, indicating that it already holds enough sway over Brussels as to force the latter to pursue self-inflicted economic wounds on Washington's behalf. It's thus expected that if Obama gets the authority to ram TTIP through Congress, that he won't have any problem at all in pressuring politicians across the Atlantic in doing the same thing for their home countries. If this comes to pass, EU citizens likely won't know what hit them, since their mainstream media outlets are purposely ignoring this gargantuan trade proposal in order to deflect attention away from its opacity. This means that their elected representatives who have some degree of affiliation with TTIP are expected to sign or support the legislation in shame and silence, dealing a major blow to the EU's so-called ‘democratic values'.
It's for self-interested reasons that European politicians are deflecting talk about TTIP's details, since if they reached mainstream attention, then the public would likely revolt against them, protest in the street, and perhaps even stage an ‘Occupy' movement in Brussels or their national capitals. From the information that's been leaked so far, TTIP will extend American economic jurisprudence over the EU, thereby making it impossible for the bloc to conduct any future trade deals without America's stamp of approval (more on this later). The formal cost of admission to this submissive relationship is social sadism, since the EU will have to lower its own quality and safety standards to US levels and therefore decrease the high quality of life that its citizens currently enjoy. This ‘standards balancing' is really nothing more than a backdoor for the US to thrust its GMOs upon the European population and begin the takeover of the continent's entire agricultural sector.
The TTIP is truly intended as a strategic economic mechanism against China.
By snatching the EU into its zone of control, the US can prohibit it from entering into independent trade negotiations with China, which as was explained above, would indefinitely forestall the emergence of a sovereign Europe.
Washington's policy makers are scared to death of the Eurasian Land Bridge and Balkan Silk Road projects spearheaded by Beijing, as they know that these two trade corridors would spell an instant end to the controlling influence that they exercise over their trans-Atlantic neo-colony.
The first project is envisioned to run from China, Kazakhstan, Russia, and Belarus before connecting to Poland and Germany, while the second one is a high speed railroad that aims to connect the Greek port of Piraeus (one of Europe's largest) to a regional rail hub in Budapest. Taken together, these two proposals would lead to an acceleration of economic development across Eastern, Central, Southern Europe, demonstrating that the EU and its peripheral partners can profit from lucrative trade arrangements that are not under direct American control.
The US has other ideas in mind, however. It would like to cut China out of the framework as much as possible, and instead substitute the world's largest economy with a plethora of East Asian states centered on the Trans-Pacific Partnership (TPP). If all goes according to design and both TTIP and TPP enter into effect, then the US would become the middleman in managing European-East Asian trade, thus propelling it into the coveted global position that the British held in the19th and early 20th centuries. The US plans to take it even further, though, and expand its network of economic alliances to all corners of the world. Through a constellation of trade agreements, it already has free trade with all of Central America (barring Belize) and the countries of the Pacific Alliance trade bloc. If it can group them all together under a unified organization, then it could add a third key element to its global economic apparatus; Latin America.
The power that would come from simultaneously multi-managing three major trade blocs (EU, East Asia, and half of Latin America) would enable the US to put enormous pressure on Mercosur, the final Western Hemisphere holdout centered on BRICS member Brazil. It could also lead to the US manipulating each of its affiliated blocs' trade relations with India in order to later bring it into the fold, too. Looking at Africa, it can continue to exploit the African Growth and Opportunity Act to pick and choose yearly candidates for de-facto free trade privileges (dependent on unipolar loyalty, of course). The end game, as it is with each of the US' other controlled trade blocs, is to complicate China's economic relations with its partners, put the brakes on its growth, and set the stage for domestic destabilization in the heart of America's latest global rival.
The world authorities have run out of ammunition as rates remain stuck at zero. They have no margin for error as economy falters
The world economy is disturbingly close to stall speed. The United Nationshas cut its global growth forecast for this year to 2.8pc, the latest of the multinational bodies to retreat.
We are not yet in the danger zone but this pace is only slightly above the 2.5pc rate that used to be regarded as a recession for the international system as a whole.
It leaves a thin safety buffer against any economic shock - most potently if China abandons its crawling dollar peg and resorts to 'beggar-thy-neighbour' policies, transmitting a further deflationary shock across the global economy.
Stephen King from HSBC warns that the global authorities have alarmingly few tools to combat the next crunch, given that interest rates are already zero across most of the developed world, debts levels are at or near record highs, and there is little scope for fiscal stimulus.
"The world economy is sailing across the ocean without any lifeboats to use in case of emergency," he said.
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