Today was TUC, next week RMT and in the coming weeks it will be education and NHS

 

Today, it was the TUC. Next week it will be RMT and in the coming weeks it will be education and NHS. All started with sanctions against the Russian Federation and following actions that led not only to higher energy prices, but also to suspension of supplies that are turning Europe into a battlefield. This is not just about Ukraine. This is about Europe and about how Europe can withstand the stupidity of the United States of America under a pretty incompetent President Biden that keeps falling and falling and not just in political terms. A sudden physical fall could put an end to his presidency and this opens a whole new can of worms.

In Germany, the survival of the ruling coalition is being questioned as Chancellor Olaf Sholz finds against between a rock and a hard place. In Britain, the ruling Conservative Party is struggling to keep some kind of composture. In the following days several by-elections will put the Conservative Party once again to the test after a series of devious sexual behaviour that led to resignations surrounded by scandals including a conviction of a Member of Parliament accused of molesting a minor.

The Bank of England, once again, raised the basic interest rate as a reflection of what has just happened in the USA where the Federal Reserve put up the basic interest rate to curb inflation that the Federal Reseve itself contributed to create by printing vast amounts of currency. The British Treasury is exhausted and with every 'adjustment' British public debt and British private debt keep rising and rising.

The Summer of Discontent could be followed by the Winter of Discontent when the impact of energy prices will be hitting the country a lot harder. Just accross the Channel, Germany is preparing a list of 'priorities' and big companies likes Bayer and ThyssenKrupp are talking louder and louder. The German economy is a castle built with dominoes and heads of industry are talking about 'castrophic consequences with inflation levels never seen before'. We know exactly what this means. With Europe's biggest economies faltering, political consequences will follow.