COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister says the island nation’s debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel. Short of cash to pay for imports of such necessities and already defaulting on its debt, it is seeking help from neighboring India and China and from the International Monetary Fund.
Prime Minister Ranil Wickremesinghe, who took office in May, was emphasizing the monumental task he faces in turning around an economy he said is heading for “rock bottom.”
Sri Lankans are skipping meals as they endure shortages, lining up for hours to try to buy scarce fuel. It’s a harsh reality for a country whose economy had been growing quickly, with a growing and comfortable middle class, until the latest crisis deepened.
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Tag: economics
CHINA: “Before Covid, factory workers’ wage is about 20 yuan (3 dollars) an hour. Now, It’s 9 yuan (1.35 dollars) an hour”
China’s economy is collapsing.
Before Covid, factory workers’ wage is about 20 yuan ( 3 dollars ) an hour.
Now, It’s 9 yuan ( 1.35 dollars ) an hour.
Lockdown, mandatory daily Covid test, quarantine…all weakening China’s economy.
Originally tweeted by Songpinganq (@songpinganq) on June 19, 2022.
In the video, the man is saying, “The wage is now 9 yuan per hour. If you can’t take that, pack your bags and leave. If you can take it, that’s good, come inside.” ABN
EUROPE IS CRACKING – EUROPEAN BOND MARKET IS BREAKING – WITH TOM LUONGO. PART 2 OF 2
Russia, Ukraine, China, Taiwan, NATO w/Gonzalo Lira
Macron’s first round failure in National Assembly vote. Governments across Europe fail
Many Chinese factories using militarized management to control workers
Many Chinese factories using militarized management to control workers.
Chinese workers in China work 12 hours a day, seven days a week with two days off a month. They go home twice a year, and most of them don’t see their families much.
Production meeting ahead of night shift
Originally tweeted by Songpinganq (@songpinganq) on June 13, 2022.
Russia and China open first road bridge
The first road bridge between Russia and China opened for freight traffic on Friday amid the deep crisis in relations between Moscow and the West over the Russian military offensive in Ukraine.
Construction of the 1,080-meter-long crossing between the Russian city of Blagoveshchensk and China’s Heihe across the Amur River began in late 2016, on both sides simultaneously. The total investment amounted to 19 billion rubles ($325.4 million), 14 billion ($240 million) of which was contributed by Russia. The opening of the bridge was originally planned for November 2020 but was postponed due to the Covid pandemic.
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Boots on the ground…June 9th…Information is pouring in this can help us make good decisions
CHINA: Banks in Shanghai restricting withdrawals; some deposits frozen; contagious virus blamed
Recently, banks across Shanghai shut down automated teller machines (ATM) transactions, alleging a virus spread via cash.
Currently, long lines of people are queuing up in front of banks in Shanghai. Some netizens worry about a wave of mass withdrawals in the future and criticize the banks for intentionally creating panic.
In one video posted by the media channel “Revealing the Truth” (在野說) (Zaiyeshuo), a man outside the CITIC Bank of China said: “Currently, people cannot use ATM machines from banks. They said money has viruses! Don’t think money has viruses, but people have viruses. Bless me. CITIC bank of China!”
Zaiyeshuo’s video said that some banks in Shanghai stopped operating ATMs because of the virus in cash on June 7. Each bank only provides ordinal numbers to 300 for customers to line up to withdraw money.
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Wall street is buying property that will never hit the market again
Wall street is buying property that will never hit the market again.
You’ll own nothing and be happy.
Originally tweeted by AG 🔥 (@Yolo304741) on June 9, 2022.
Biden Administration Quietly Raised Amount of Ethanol Required in Gasoline from Ten Percent to Fifteen, Three Predictable Problems Will Surface Soon
…♦ Third Issue – “Ethanol is a valuable source of octane in finished gasoline, but it is chemically different than petroleum gasoline and cannot be used in concentrations above 10 percent in small engines — like outboard boat motors, motorcycles, lawnmowers, generators or chain saws — or in any cars made before 2001. Complicating matters further, most cars on the road today still aren’t warrantied to run on gasoline with more than 10 percent ethanol. Retail stations also must have compatible infrastructure in order to sell gasoline with higher ethanol blends.” This issue is known within the industry as “The Blend Wall.”
American Buddhist Net 