Putin Warns The World Is Facing The Most Dangerous Decade Since World War II

Russian President Vladimir Putin says the world faces the most dangerous decade since World War II and predicted that the historical period of the West’s “undivided dominance over world affairs” is coming to an end. Speaking at a conference of international policy experts in Moscow, Putin said the decade ahead is “probably the most dangerous, unpredictable and, at the same time, important…since the end of World War II.” Putin laid the blame for the situation at the feet of Western countries, which he said have cast aside the norms of international affairs in order to maintain dominance and hold down countries they see as “second-class civilizations.”The Russian leader also said he had no regrets about sending troops into Ukraine and sought to explain the conflict as part of the efforts by Western countries to secure their global domination.Putin claimed in his speech to the Valdai Discussion Club, a think tank, that the West had helped incite the conflict and also seeks to stoke a crisis over Taiwan in an attempt to enforce global dominance. Russia launched its invasion of Ukraine on February 24, triggering the biggest military conflict in Europe since World War II and driving relations with Western countries that back Ukraine and its drive to be part of the European Union and NATO to their lowest depths since the Cold War. Putin cast the conflict in Ukraine as a battle between the West and Russia for the fate of the second-largest Eastern Slav country. It is partly a “civil war,” he said, as Russians and Ukrainians are one people. Kyiv has flatly rejected both of those ideas. The goal of what Russia refers to as a “special military operation” is to take the eastern Donbas region, Putin said, adding that in his view the region would “not have survived” on its own had Russia not intervened militarily in Ukraine But the war has gone far beyond the Donbas region, with Russian attacks on civilian infrastructure, residential buildings, and other nonmilitary structures, killing tens of thousands of Ukrainians across the country. Putin used the speech largely to rail against the West, saying it has nothing to offer to the world “except its own domination,” and the goal of globalization “is neocolonialism to dominate the world.” He said Russia is only trying to defend its right to exist in the face these Western efforts. Putin also asserted that more and more nations refuse to follow Washington’s demands and Russia will never accept the West’s attempts to dominate the world. Citing gay pride parades and the acceptance of transgender people in Western countries, Putin also defended “traditional values” and said “nobody can dictate to our people how to develop and what society we should build.” He also said Russia has never considered the West an enemy and has many things in common with it but will continue to oppose the diktat of Western neoliberal elites.

U.S. National Security Council spokesman John Kirby said Putin’s speech presented no new ideas.

“We don’t believe that Mr. Putin’s strategic goals have changed here. He doesn’t want Ukraine to exist as a sovereign, independent nation state,” Kirby said.

Ukrainian presidential adviser Mykhailo Podolyak said Putin’s speech can be described as “for Freud,” referring to psychoanalysis founder Sigmund Freud.

“The person who invaded a foreign country, annexed its land, and committed genocide accuses others of violating international law and the sovereignty of other countries? One truth: The person who started a wind will get a storm. The storm is coming,” he said on Twitter.

Answering questions from journalists after his speech, Putin reiterated the Kremlin’s assertion that Ukraine plans to use a so-called dirty bomb on its own territory. The claim has been dismissed as false by Ukraine and its allies, who say Russia may have raised the matter because it plans to use such a bomb in Ukraine as a pretext for escalation. “It was me who ordered [Defense Minister Sergei] Shoigu to inform by phone all his colleagues about it,” Putin said, adding that Russia does not need to use dirty bombs in Ukraine. Putin also said he supported plans by the International Atomic Energy Agency (IAEA) to visit Ukraine’s nuclear power plants for inspections. “It must be done as soon and as openly as possible because we know that Kyiv authorities are now working to cover up such [dirty-bomb attack] preparations,” Putin said, without giving any exact information proving the claim. Ukraine invited IAEA inspectors to visit its nuclear facilities after the Kremlin made its unsubstantiated claim about the preparation of a dirty bomb — which would use the explosion of a conventional warhead to spread radioactive material or chemicals over a wide area. Ukraine said it would welcome inspections because it had “nothing to hide.” According to Putin, Russia has never talked about the use of nuclear weapons in the war with Ukraine despite his own promise to defend Russian territory “with any means at our disposal” and saying his words were “not a bluff.” “We see no need for [using nuclear weapons in Ukraine],” Putin told reporters. “There is no sense for that, neither political, nor military.” NN: It would do you well to pay close attention to Europe’s latest war. I do not expect Russia to go away quietly.And the ideal Russia will be defeated is absurd. Was America defeated in Vietnam? Or Iraq? Not Really… Russia will not be defeated… No matter the outcome it will still be a major threat to world peace. AND it has changed forever the global food and energy equation.

Oil prices slip on weak data, possible demand contraction…… UAE: OPEC+ to keep balancing oil supply and demand

The prices of oil futures fell on Monday coincidently after the publication of a new batch of economic data in Asia and the likely contraction in demand amid widening COVID-19 curbs. Earlier, the China Federation of Logistics and Purchasing (CFLP) said that the country’s manufacturing sector fell back into contraction territory in October. China’s National Bureau of Statistics (NBS) Purchasing Manager’s Index (PMI) stood at 49.2, dropping from September’s reading of 50.1. West Texas Intermediate (WTI) for deliveries in December fell by 0.96% at 7:48 am ET to sell for $87.06 per barrel. A minute later, Brent for inventories in the same month decreased by 1.13% to go for $94.69 per barrel.

UAE: OPEC+ to keep balancing oil supply and demand

United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui stated on Monday that the Organization of the Petroleum Exporting Countries and its partners (OPEC+) will remain a group that can be trusted with balancing oil supply and demand. Speaking at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), the minister reaffirmed that his country and the rest of OPEC+ remain committed to providing the planet with the necessary oil supply. Earlier this month, OPEC said in its newest report that the growth of the global demand for oil is expected to average 99.7 million barrels per day (bpd) in 2022, which is 0.5 million bpd less than the organization projected in September. NN :Oil is all over the charts. Basses Brent from a September 23 low of $82.30 to a recent high of $98.90 on October 3rd to a current price of $94.45 we have traded in a  $7.00 range. Its really a volatile market that is struggling to price in a lot of factors. Remember its political. Governments did not want to admit they really blew it. From initiatives for renewables, to a trillion dollars invested in government solar and wind projects they failed. To make matters worse they stifled investment in proven fossil fuel projects. Now as governments fight among themselves they are  blaming producers for the global energy crises. They are even using critical strategic emergency supplies is what will turn out to be a futile attempt to control price. This ends up in ever higher energy prices…. China covid quarantines will not save the day.

New COVID strains more deadly

The new COVID-19 subvariants that are becoming dominant all over the world aren’t just more contagious than previous variants and subvariants—they might cause more severe disease, too. That’s an ominous sign if, as experts predict, there’s a new global wave of COVID in the coming months. It’s one thing to weather a surge in infections that mostly results in mild disease. Cases go up but hospitalizations and deaths don’t. But a surge in serious disease could lead to a surge in hospitalizations and deaths, too. It could be like 2020 or 2021, all over again. The big difference is that we now have easy access to safe and effective vaccines. And the vaccines still work, even against the new subvariants. A new study from The Ohio State University is the first red flag. A team led by Shan-Lu Liu, co-director of HSU’s Viruses and Emerging Pathogens Program, modeled new SARS-CoV-2 subvariants including BQ.1 and its close cousin, BQ.1.1.

The team confirmed what we already knew: BQ.1 and other new subvariants, most of them the offspring of the BA.4 and BA.5 forms of the Omicron variant, are highly contagious. And the same mutations that make them so transmissible also make them unrecognizable to the antibodies produced by monoclonal therapies, rendering those therapies useless.

That should be reason enough to pay close attention as BQ.1 and its cousins outcompete BA.4 and BA.5 and become dominant in more countries and states. But then Liu and his teammates also checked the subvariants’ “fusogenicity.” That is, how well they fuse to our own cells. “Fusion between viral and cellular membrane is an important step of viral entry,” Liu told The Daily Beast. In general, the greater the fusogenicity, the more severe the disease. Liu and his colleagues “observed increased cell-cell fusion in several new Omicron subvariants compared to their respective parental subvariants,” they wrote in their study, which appeared online on Oct. 20 and is still under peer review at New England Journal of Medicine. If these new subvariants are indeed more transmissible and more severe, they could reverse an important trend as the COVID pandemic grinds toward its fourth year. The trend, so far, has for each successive major variant or subvariant to be more contagious but cause less severe disease. That trend, combined with widespread vaccination and new therapies, led to what scientists call a “decoupling” of infections and deaths. COVID cases occasionally spike as some new, highly-contagious new variant or subvariant becomes dominant. But because these new forms of SARS-CoV-2 cause less severe disease, deaths don’t increase nearly as much. That decoupling, along with the availability of vaccines and therapies, has allowed most people all over the world to get back to some kind of normal in the past year or so. If BQ.1 or another highly fusogenic subvariant re-couples infections and deaths, that new normal could become a new nightmare. “More hospitalizations and deaths,” is how Ali Mokdad, a professor of health metrics sciences at the University of Washington Institute for Health who was not involved in the OSU study, summed it up. It’s possible we’ve already seen the first recoupling. Since the new subvariants began seriously competing for dominance in recent months, epidemiologists watched COVID statistics carefully in order to spot any real-world impacts.  For all their transmissibility and fusogenicity, the new subvariants haven’t significantly escaped the immune effects of the leading vaccines. And the latest “bivalent” boosters, formulated specifically for BA.4 and BA.5, should maintain the vaccines’ effectiveness as long as the dominant subvariants are closely related to Omicron. Get vaccinated and stay current on your boosters. It’s impossible to stress this too much. Yes, BQ.1 and its cousins exhibit some alarming qualities that could bend the arc of the pandemic back toward widespread death and disruption. NN: I was hoping I would not have to publish another COVID warning. Time to get your booster shot.

Russia halts grain deal after ‘massive’ Black Sea Fleet attack

 

‘Massive’ drone attack on Black Sea fleet halts vital Ukrainian grain deal Many countries in Africa and the Middle East rely on Ukraine’s grain, with Washington accusing Russia of “weaponizing food” by cutting off the deal
Ukraine attacks Russia’s navy in Sevastopol Russia has suspended a UN-brokered deal after a “massive” drone attack on its Black Sea fleet at Sevastopol in Crimea. The move has led to condemnation from Ukraine, which has not commented on the attack. The strike occurred earlier today when Sevastopol residents said they heard large explosions occurring in Omega Bay. The Russian-installed governor of the city said Moscow had repelled the attack which he called the “most massive” since February. Footage also emerged of what Moscow said was a Russian helicopter destroying an “underwater drone”. A Ukrainian journalist later released footage of what was said to be a “maritime attack drone” avoiding fire from a Russian helicopter. Sevastopol is the headquarters of the Kremlin’s crucial Black Sea fleet. Ukrainian officials do not regularly comment about operations on the Crimean peninsula, which Russia annexed in 2014. After the attack, Russia claimed that ships involved in the grain deal were targeted by the drones, without providing evidence. Later Moscow announced that its commitments to the deal would be suspended for “an indefinite period of time”. Moscow also blamed the involvement of “British specialists” who it claimed had also blown up the Nord Stream pipelines last month, there is no evidence for either claim. The Russian Defence Ministry said on Telegram: “Taking into account… the terrorist act by the Kyiv regime with the participation of British experts against the ships of the Black Sea Fleet and civilian vessels involved in ensuring the security of the ‘grain corridor,’ the Russian side suspends participation in the implementation of agreements on the export of agricultural products from Ukrainian ports.”

The move drew swift condemnation from Ukraine, whose officials have previously warned that Russia would attempt to renege on the agreement. Ukraine’s Foreign Minister Dmytro Kuleba said in a Tweet: “We have warned of Russia’s plans to ruin the Black Sea Grain Initiative. Now Moscow uses a false pretext to block the grain corridor which ensures food security for millions of people. “I call on all states to demand Russia to stop its hunger games and recommit to its obligations.” A United Nations spokesperson told CNN that the organisation had been “in touch” with Russian authorities following the announcement to end the deal. The news comes as fears build that the war in Ukraine could escalate out of control. Recently, Russia has warned of Ukraine deploying a dirty bomb on its own soil – a Russian official even claimed that Ukraine would deploy mosquitos infected with bioweapons against its troops. Ukraine and the US were quick to dismiss these claims as part of a disinformation campaign, however it could show that Putin may be ready to escalate as his forces continue to face an extremely difficult situation on the ground. “I call on all states to demand Russia to stop its hunger games and recommit to its obligations.” A United Nations spokesperson told CNN that the organisation had been “in touch” with Russian authorities following the announcement to end the deal. The news comes as fears build that the war in Ukraine could escalate out of control. Recently, Russia has warned of Ukraine deploying a dirty bomb on its own soil – a Russian official even claimed that Ukraine would deploy mosquitos infected with bioweapons against its troops. Ukraine and the US were quick to dismiss these claims as part of a disinformation campaign, however it could show that Putin may be ready to escalate as his forces continue to face an extremely difficult situation on the ground. NN: This conflict could easily spin out of control… Meaning more and more states can be drug into this black hole,

Wall Street surges to sharply higher close ahead of Fed week

  • Apple rebounds, Amazon sinks after earnings reports
  • Data shows strong consumer spending, ebbing wage growth
  • Third-quarter aggregate earnings estimates raised
  • Dow notches best weekly percentage gain since May
  • Indexes jump: Dow 2.59%, S&P 2.46%, Nasdaq 2.87%

NEW YORK, Oct 28 (Reuters) – A robust, broad-based rally sent Wall Street to a sharply higher close on Friday as encouraging economic data and a sunnier earnings outlook fueled investor risk appetite ahead of next week’s much-anticipated two-day policy meeting of the Federal Reserve. All major U.S. indexes ended the session up about 2.5% or more, with the S&P and the Nasdaq notching their second straight weekly gains. The blue-chip Dow posted its fourth consecutive Friday-to-Friday advance and its biggest weekly percentage gain since May. “This has been one of the best months (so far) in the history of the Dow, suggesting the bear market likely ended,” said Ryan Detrick, chief market strategist at Carson Group in Omaha. “Big monthly moves historically happen at the end of bear markets.” “This is the second Friday in a row we’ve seen aggressive buying suggesting investors are growing more comfortable holding over the weekend,” Detrick added. A 7.6% rebound in Apple Inc(AAPL.O) helped soften the blow of the 6.8% plunge for Amazon.com(AMZN.O) shares, in the wake of the two market leaders’ results. Analysts now see third-quarter S&P 500 earnings growth of 4.1%, up from 2.5% on Thursday, according to Refinitiv data. “We’ve seen some high-profile misses from significant large-cap names,” Detrick said. “But under the surface many of the smaller and midsize companies have been quite impressive with their earnings results.” On the economics front, the Commerce and Labor Departments released data that showed robust consumer spending and easing wage growth, respectively. Financial markets have now priced in an 84.5% likelihood of a fifth consecutive 75 basis point interest rate hike at the conclusion of the Fed’s Nov. 1-2 policy meeting, and a 51.4% chance the central bank will decelerate to 50 basis points in December, according to CME’s FedWatch tool. “The door is cracked open on the possibility that we might see a more dovish Fed come December’s policy meeting, whereas a month ago that door was locked and slammed shut,” Detrick added. The Dow Jones Industrial Average (.DJI) rose 828.52 points, or 2.59%, to 32,861.8, the S&P 500 (.SPX) gained 93.76 points, or 2.46%, to 3,901.06 and the Nasdaq Composite (.IXIC) added 309.78 points, or 2.87%, to 11,102.45. Of the 11 major sectors of the S&P 500, all but consumer discretionary stocks (.SPLRCD), weighed down by Amazon shares, ended the session green. Tech shares (.SPLRCT) enjoyed the largest percentage gain. Third-quarter reporting season has passed the halfway point, with 263 of the companies in the S&P 500 having reported. Of those, 73% have beaten consensus expectations, according to Refinitiv. Intel Corp (INTC.O) jumped 10.7% after cutting its spending forecast, while T-Mobile US Inc’s (TMUS.O) subscriber forecast hike sent its shares up 7.4%. Twitter Inc was delisted from the New York Stock Exchange, closing the book on Tesla Inc (TSLA.O) chief Elon Musk’s $44 billion purchase of the company. Advancing issues outnumbered declining ones on the NYSE by a 2.87-to-1 ratio; on Nasdaq, a 2.12-to-1 ratio favored advancers. The S&P 500 posted 32 new 52-week highs and eight new lows; the Nasdaq Composite recorded 117 new highs and 115 new lows. Volume on U.S. exchanges was 11.26 billion shares, compared with the 11.53 billion average over the last 20 trading days. NN: I am not so sure about this. I really want to stay neutral because the PCI data did not show inflation starting to abate like it should of. I see little out their that convinces me the FED is about to back down. End of the mounth window dressing, Elections and next seeks Fes meeting gives me pause. I want to take a step back and watch things.

Personal consumption expenditures (PCE) price index, excluding food and energy, jumped 5.1% in September

United States Bureau of Economic Analysis reported that the Personal consumption expenditures (PCE) price index, excluding food and energy, jumped 5.1% in September on an annual basis, going above estimates. The stubborn reading of the index, which is the Federal Reserve’s preferred inflation gauge, is upholding the case for further interest rate hikes by the central bank. Such a scenario seemingly diverted the attention away from gold, which is non-interest-bearing.

Core Deflator — stripping out volatile food and energy prices — reached +0.5%, in-line with expectations but only 10 bps off cycle highs in June. Year over year Core Deflator was up 20 bps to +5.1%, though still off cycle highs of +5.4% registered in February, which was the highest print since 1983. Headline Deflator year over year was +6.2%,   a miniscul 10 bps lower than expected. NN: THis is NOT what the FED wanted to see on the key inflation indicator they track  That means a taper is off the table. .The Fed will continue to slam on the breaks.

Wall St loses over $200 billion in value after report from Amazon

Oct 27 (Reuters) – Over $200 billion in U.S. stock market value went up in smoke in extended trade on Thursday, after a weak forecast from Amazon (AMZN.O) added to a string of downbeat quarterly reports from Big Tech companies. Amazon’s stock tumbled 17% after the bell, wiping out $190 billion in market capitalization after the retail and technology heavyweight projected a holiday slump that would leave current-quarter sales below Wall Street estimates. Also after the bell, Apple (AAPL.O) shares fell about 1%, erasing about $30 billion of its stock market value after the Cupertino, California company reported quarterly iPhone sales that fell short of Wall Street targets. The latest in a string of poor quarterly results from some of Wall Street’s most widely owned companies underscores deep worries about the health of the global economy as central banks raise interest rates in a battle against inflation. “Big Tech companies are not impervious to slowdowns in the economy, particularly if they are consumer driven,” said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. “As the Fed embarks on this planned slowdown, it is eating away at some of their consumer-faced businesses, and given their high multiples it is causing big contractions in their stock prices,” Meckler said. Amazon’s weak report sent Nasdaq futures tumbling about 3%, showing traders expect Wall Street to open with a deep decline on Friday. Google-owner Alphabet (GOOGL.O) and Microsoft (MSFT.O) dropped about 1% each, adding to losses following their own poorly received quarterly reports on Tuesday. Thursday’s late-day reports also followed disappointing results from Facebook-owner Meta Platforms (META.O) that earlier sent its stock plummeting 25%. Thursday’s drop left Meta’s stock market value at about $260 billion, with the one-time behemoth now about the 20th most valuable company on Wall Street. If Amazon’s drop after hours was reflected in Friday’s trading session, it will have been its deepest one-day loss since 2006.

Democrats likely to lose more than 20 House seats in midterm elections

Democrats will likely lose more than 20 seats in the House of Representatives — and with them their House majority — in the Nov. 8 midterm elections, according to Cook Political Report Editor-in-Chief Amy Walter. The general consensus among political analysts is that Democrats will lose the House but that control of the Senate could go either way.  Election-forecasting website FiveThirtyEight gives Republicans an 82% chance of winning the House — a significant uptick since early October, when the party’s odds hovered around 68%. FiveThirtyEight’s model lists the Senate as a “dead heat,” giving Democrats 53-in-100 odds of maintaining their majority. It’s also unlikely that the House will end up with a narrow majority, unlike on the Senate side, where Democrats currently have a 50-seat majority, with Vice President Kamala Harris serving as a tiebreaker when necessary. FiveThirtyEight currently forecasts that the number of seats controlled by Republicans will be 230, or a total net gain of 17 seats. Republicans only need to gain five seats to win a narrow majority. Walter told reporters on Thursday that this year’s midterms are becoming more of a “traditional referendum, and that means Democrats losing the House, probably somewhere in the range of 20 seats or more. Over the summer, Walter noted, there was “increased enthusiasm among Democrats who up until that point were less engaged than Republicans,” a sentiment that showed up in polling and in some special House elections. “But here we are with two weeks to go, and it feels very much as if we’re back to where we were earlier in the year, where the fundamentals still driving the election [are] opinions about the president, opinions about the economy,” she said. Inflation is top of mind for more than 80% of Americans, according to a Monmouth University poll released earlier this month. That makes many Democrats’ campaigns even more challenging. “The Democrats can absolutely make the point that Republicans haven’t offered a better solution. But this isn’t a presidential election, it’s a midterm election,” Walter said. “There is not a choice between picking the leader of the party, the leader of the free world. This is about sending a message to the party that’s in charge. “And in that sense, Democrats have a very hard challenge in front of them,” she continued. “They can’t say that … the economy is in a good place. They can say technically it is getting better in some ways. But you can’t convince people about how they are feeling.” The Cook Political Report currently rates five House districts represented by Democrats as “likely” Republican and four Democratic-held seats as “lean” Republican. No “likely” Democratic seats are held by Republicans, and only two seats rated as “lean” Democrat have Republican incumbents, meaning that Republicans could net seven seats without winning any of the 23 Democratic seats listed as a “toss-up.” Some of this is due to redistricting following the 2020 census, such as in Tennessee’s 15th Congressional District, now rated as “likely” Republican. Democrat Jim Cooper, who has served in Congress since 2003, announced in January that he would not seek re-election due to the state legislature’s “dismembering” of his district. A loss of the House by the majority party would follow historical trends. In midterm elections from 1934 to 2018, the president’s party has only gained House seats three times and has averaged a loss of 28.  Most recently, President Donald Trump saw a loss of 40 House seats in 2018, and President Barack Obama lost a total of 76 seats while in office,

Putin: Period of West domination over

Russian President Vladimir Putin underlined on Thursday that the time of “undivided domination” of the West is “coming to an end.” Addressing the Valdai Discussion Club, the head of Russia stressed that “the West is incapable of unilaterally governing… no matter how much it tries to do that.”

He further commented that Washington has “no ideas of creating positive development, they simply have nothing to offer the world except maintaining their dominance.” Putin underscored that he is “convinced that real democracy in a multipolar world primarily implies the possibility of any people.”

The Russian president concluded by warning that “we are facing the most dangerous decade since the end of World War II, [as] the situation is fraught with conflicts.”

Saudi Arabia Energy Minister Warns About Misusing Oil Stockpiles

Saudi Arabia’s Energy Minister has warned countries against misusing their crude oil stockpiles to manipulate the oil markets. According to the Kingdom’s Energy Minister, Prince Abdulaziz bin Salman, who has been sparring with U.S. President Joe Biden in recent weeks, strategic crude oil stockpiles are designed to be used to manage supply shortages, not to bring down prices. “It is my profound duty to make clear to the world that losing (releasing) emergency stocks may be painful in the months to come,” the Energy Minister said at the Future Initiative Investment conference in Riyadh. The comment was quickly interpreted as a barb aimed specifically at President Biden, who lashed out at OPEC+ over its recent decision to lower its crude oil production targets by 2 million barrels per day after the United States spent months releasing more than a hundred million barrels of crude oil from its Strategic Petroleum Reserves to alleviate high prices at the pump ahead of midterm elections. The warning is just the latest in the tiff between Saudi Arabia and President Biden, after the U.S. President said there would be consequences for Saudi Arabia’s decision—with Russia—to lower crude oil production. “I am in the process, when the House and Senate gets back, they’re going to have to – there’s going to be some consequences for what they’ve done with Russia,” President Biden said last week, without getting into specifics. The United States has released 192 million barrels of crude oil from its emergency stockpiles so far this year, according to EIA data, with plans to release even more next year. Other IEA countries have released oil from their crude oil stockpiles this year as well “to address significant market and supply disruptions related to President Putin’s war on Ukraine,” the IEA said in a March press release. NN: Biden is a one trick pony. What does he do when the strategic stockpile is depleted……