Look what the fake right globalists at the Australian just tried to serve up to us:
From the Australian:
Donald Trump’s address to the nation on Wednesday night, US time, was disastrous on so many levels, but the most important was to underline that there is a complete absence of coherent leadership in this crisis.
The speech was a bumbling effort that initially announced a ban on cargo from Europe to the US, later amended to apply to people only, but it left so many questions unanswered and created so much uncertainty that the Dow Jones Average dropped 10 per cent next morning, the worst fall since October 1987.
The market is now reacting to the gaping lack of global leadership, particularly from the United States.
Oh no, if only there were some global body we could cede sovereignty to in order to keep the world safe.
Source.
The idea that the US could protect itself by banning travel from Europe, but not the UK, when the coronavirus is clearly spreading rapidly inside the US itself now, brought home the fact that it’s every country for itself and nobody knows what they’re doing. It’s a global crisis, but there is no global co-ordination, or even talking.
The Australian Government’s response on Thursday, including our own PM’s address to the nation, was not inept at least, but most people would have smiled at the idea that there is “a clear plan”. “We’re making this up as we go along”, would have been more accurate and therefore possibly more reassuring.
Who will save us?
In 2008 and the decade after that there was global central bank co-ordination through the Bank of International Settlements, and firm leadership from unelected, competent, individuals. European Central bank president Mario Draghi declared in 2012 that he would do “whatever it takes” to preserve the euro, and then successive Federal Reserve chairs have provided economic leadership since then.
With this crisis, central banks are out of the game, with monetary policy exhausted after more than a decade of propping up economies and markets. And all politics is local, as the saying goes, now more than ever.
The central banks will save us. Don’t listen to a word those conspiracy theorists on the internet tell you.
The natural body of skilled, experienced, unelected people supposed to provide global leadership during a pandemic is the World Health Organisation, but it is being largely ignored.
Fifteen years ago the WHO revised the International Health Regulations, a supposedly legally binding instrument of international law created with the WHO in 1948 and signed by 196 countries including the United States. It is still the global framework for responding to outbreaks.
The basic premise of the IHR after 2005 was that the WHO would act as a central co-ordinating body and countries would keep it informed and share data to help scientists address the disease. The WHO would co-ordinate efforts on containment, declare emergencies and make recommendations.
So what you’re saying is that we need to strengthen the power of the UN, give it more money, and maybe just maybe create a UN army so it can enforce international law and keep us all safe.
Moving to the conclusion:
A virus that apparently jumped from bats to humans in Wuhan, China, and then quickly spread around the world via the modern abundance of air travel has suddenly, unexpectedly, put the global economy, and financial markets, in hands of doctors and biological scientists, and the politicians who are responding to what they say, rather than what economists say.
This is a completely new and unsettling experience, certainly since the GFC. In the decade since 2009, economists and central bankers have been clearly in charge, and have been running things very nicely for investors.
Not any more.
What photos do they have of you, Alan?
