World Weekly丨The domestic crisis is heavy, but the United States uses hegemony to cover it up


2022-08-08: [Chinese Article Link]  The U.S. uses hegemony to cover it up. Original title: World Weekly: Domestic crisis, America using hegemony to cover it up. Recently, the economy of the United States emerged in the new quarter, with GDP falling by 0.9% per year in the second quarter, contracting again after 1.6% year-on-year decline in the first quarter. US media analysis suggests that negative growth for two consecutive quarters means a “technical recession” in the United States economy. The Washington Post asks, “Is the recession in the United States really technical?” The answer is not so simple, I'm afraid. As the only super-Power in the post-cold war world, the United States now has three global hegemonic powers: military, monetary, and technological. This week, however, a series of acts of incitement by the United States to destabilize the region and provoke regional tensions have further exposed its attempts to cover up domestic crises through acts of hegemony. Elephants in the room -- recession. The phrase “the elephant in the room”, is derived from an euphemism by the Russian writer Ivan Krelov of 1814. A man hurriedly visited the museum and turned a blind eye to small insects and elephants in the hall. In this way, Chrérov made a mockery of the long-standing slowness and prejudice of the Western countries against Russia at the time. And what corresponds to the elephant in the room is the child who told the truth in the Emperor's new dress. On 28 July, an elephant was finally pulled out of the background board by the Mayor of New York by the name of “the recession”. And Adams said that same day, when he took part in a non-profit initiative called the Happiness Plan: "Wall Street is collapsing. We're in a recession." However, when Adams was asked whether he believed that the Biden government was wrong about the recession, he seemed to have deliberately retracted what he had said earlier and instead said “politically correct”: “We will recover. The President will decide on the official version of what we are in, and I will follow the President’s leadership and believe in him.” The President of the United States, the finance officer, spoke on "End the Fire" to stabilize the people's hearts and minds. And President Biden, who had just ended the positive isolation of Covid-19, reassured the people: "I'm fine, I'm fine." US President Biden: First of all, our job market is at an all-time high. The unemployment rate today is 3.6 per cent. Since my presidency, we have created 9 million new jobs and businesses are investing in the United States at record rates. In addition to Biden, United States Treasury Secretary Yalun and Federal Reserve Chairman Powell have come forward to “celebrate the fire” and stabilize the people. U.S. Treasury Secretary Yale: The real recession is widespread economic weakness, and we don't see it now. US Federal Reserve Chairman Powell: I don't think the US is in recession because we're doing so well in too many areas of the economy. Fox News stated that Democrats “redefined the recession” to cover up their own faults. However, the “technical recession” that was “redefined” was as creative as the “good thing” of an apple phone released by Jobs many years ago and as painful as the Great Depression of the 1930s. The discussion itself, by the economist Brian Riedel of the Manhattan Institute, was extremely political. "This is actually just a debate about labels, which is important for political propaganda and, ultimately, for the political legacy. Biden does not want to see himself labeled as an economy in recession." In the face of the recession, the general public knows it. In fact, regardless of official whitewashing, ordinary people can cut their bodies in concrete and real terms. New York resident Vidal: I have children, and we don't know if we can find a new home for our children if we're expelled from here. Fifteen years ago, Vidal came to New York from Latin America, worked as a tour guide in Manhattan, and a family of four was not rich, but stable. In 2020, following the outbreak of Covid-19, tourists fell sharply, and Vidal lost his job overnight. No tourists, no tourists, I totally lost my income. What is worse is that New York’s rents have been rising for the last two years. In February this year, Vidal was informed that the rent for their rentals would increase from US$ 1,100 to US$ 1900. NY resident Vidal: I'm scared because the rent has nearly doubled, and obviously we can't afford it. According to the American Broadcasting Corporation, between June 2021 and June 2022, the rent for one room in New York rose by about 41 per cent. According to the New Fox Network, the continued surge in mortgage interest rates in the United States prevented the sale of real estate across the United States, which in turn led to higher rental costs for housing. New York convenience store owner: Basically, prices are rising every week, and there's no sign of falling in the short term. There's an increase in the price of food in this restaurant, a rise in the price of gasoline, a rise in the price of everything. Today, it may not be easy to buy a box of lunch meat or tuna cans in New York for less than $2. On 30 July, the United States newspaper The New York Post reported that, because of the serious inflation and crime problems facing the City of New York, cheap canned foods such as lunch meat and tuna cans were locked in plastic boxes in shops to prevent theft. In response, the New York Post commented that “the national crisis is in a small box”. The price of gasoline, rent, food, and everything else is higher than the sky, and it is not over yet. In short, consumer prices are rising at the fastest rate in more than 40 years. A recent poll showed that nearly 94 per cent of respondents were worried about inflation, with 62 per cent of respondents arguing that the biggest problem facing the United States was inflation. The newly married couple had been married with a credit card and had had to cut off their clothes for a long period of time in order to repay the $15,000 credit card debt. Residents of Colorado, USA: We want to buy a house, we don't have a house. We're in our 30s, but it's still hard. We thought it might be easy to pay off our credit cards before. The rise in inflation triggered a chain reaction. According to the latest data released by the Federal Reserve Bank of New York, the total family debt of the United States at the end of June of this year amounted to $161.5 billion, an increase of $312 billion over the same period last year, with rising mortgages, car loans and credit card arrears. Additional data show that Americans'credit card arrears increased by $46 billion in the second quarter of the year, 13 per cent compared to the same period in the previous year, resulting in the largest year-on-year increase in more than 20 years. Analysts warn that default rates for subprime loans and low-income borrowers are rising. The US National Broadcasting Corporation (NCB) analyses that housing transactions are falling sharply, prices are rising rapidly, economists warn that the US economy will be in recession, and the Fed is struggling to use higher interest rates to extinguish inflation, making the borrowing costs for households and businesses even higher. “The data show that the United States economy is at least on the verge of recession.” On 27 July, the Budget Office of the United States Congress (CBO) released data showing that the size of the United States federal government debt is expected to reach 98 per cent of GDP this year and rise to 185 per cent of GDP in 2051. According to the latest polls, 74 per cent of United States voters considered inflation to be a “very important” issue in the mid-term elections and a matter of primary concern to them at the moment. The Wall Street Journal study found that every inflation in the United States since World War II had been accompanied by a decline in GDP and an increase in unemployment. Senior editor of the Wall Street Journal, Hilsenlat: For most Americans, when do you feel recession when you start worrying about your work? High demand for employment and large-scale layoffs However, this contraction in 2022 was somewhat aberrant. In June this year, the United States labour force participation rate dropped to a 40-year low of 62.2 per cent, while the vacancy rate in reverse positions remained high. High-level editor of the Wall Street Journal, Hilsenrat: There are about 11 million jobs out of reach. Now, if you look back, in 2019, when the economy was considered exceptionally strong, there were about 7 million vacancies, but we are talking about the recession. Indeed, it is the very low unemployment rate and the high vacancy rate for posts that are the main reasons for the Biden Government's denial of the “recession”. The Wall Street Journal notes, however, that this phenomenon has particular causes and is not sustainable. The senior editor of the Wall Street Journal, Hilsenrat: We have millions of baby boomers retiring, so we don’t have that many people working. And yet, there is a strong demand for goods and services as a result of stimulus measures during the epidemic. On the other hand, the recent retrenchment of science and technology companies has continued in response to the continuing impact of a high inflation and interest rate environment. Statistics show that, by the end of July, more than 32,000 employees in the US science and technology industry had been laid off during this year’s massive lay-offs. The impact was particularly severe for start-up technology firms. Technology giant Oracle announced plans to lay off thousands of people globally, thus cutting costs by almost $1 billion; The encrypted currency trading platform Coinbase stated that recruitment would be slowed down, that the offers given would be cancelled and that about 1,100 employees would be dismissed; In June of this year, Chief Executive Officer Tesla Musk indicated that recruitment would be suspended and downsized by 10 per cent, as he had a “super-bad feeling” about the economy; In addition, large technology giants, such as Microsoft, Google, Apple and Naifi, have promoted downsizing schemes or slowed recruitment. Unprecedented high inflation not only made the Americans miserable, it also forced the world to pay for America's policy failures. Politicians, for its part, said that the world felt pressure as the United States Central Bank raised interest rates. On 26 July, the International Monetary Fund issued its latest World Economic Outlook Report, which assessed the impact of interest increases in developed economies on emerging markets and developing economies. The report warns: “Increased borrowing costs, declining credit flows, stronger United States dollar and slower economic growth will trap more countries.” — International Monetary Fund "The American Dream" broke in an instant. In August, the mid-term elections in the United States also officially entered the countdown of three months, with the exception of the worst economy. This is accompanied by migration issues that go hand in hand with firearms, racial discrimination, and unequal distribution. When the elephants in the room lined up, the American dream broke. In the early hours of 24 July, at least 17 people were killed in the waters near the Bahamas by a boat carrying illegal Haitian migrants, destined for Miami, Florida, United States. On 27 June, at least 53 bodies were found in an abandoned truck in the city of St. Anthony, Texas. This was one of the most serious deaths of immigrants in the United States in recent years. In mid-July, the remains of three Mexican victims were returned to their homes. The three victims were young people, of whom Jail was 20 years old and Misar and Yowani were only 16. Their families said that the children had been on the death train for the sake of the “American dream” and had never thought that it would be such a “human tragedy”, leaving their parents with a “negative nightmare” for a long time. The immigration issue has triggered a new party conflict. It is worth mentioning that after the tragic events of 28 June, the first thing the Governor of Texas, Abbot, did was to dump the pot for the Democratic President. “These deaths were caused by Biden and were the result of his deadly open border policy.” The following day, Abbot announced the upgrading of border controls and the deployment of State police to establish additional road checkpoints for the exclusive inspection of large vehicles. The Texas Public Security Department will immediately implement a more rigorous checkpoint strategy, focusing on large trucks like this death truck. According to some commentators in the United States, political rivalries between the two parties have made the border a “probably expensive campaign prop” and illegal immigrants a “political pawn.” As the American columnist Julio Ricardo Varela has said, the issue of American immigration is manipulated for political purposes, which has made the Democratic Party’s election a matter of urgency. The model of the Colombian Broadcasting Corporation news front tracker (CBS News Battled Tracker) has recently shown that if the midterm elections in November are held today, the Republican party will win 25 seats in the Chamber of Deputies. The poll analysis shows that the Republicans will win 230 seats, while the Democrats will hold 205 seats, while the majority of the House of Representatives will need 218 seats. Behind the entanglement of the two parties is the poor performance of the current Government and Congress. The support rate has been reduced to the lowest, and the American politicians are eager to shirk their responsibilities. According to the latest Gallup poll, the Biden support rate fell by 40 per cent for the first time since taking office in July this year, setting a career threshold. In May, the Gallup poll showed a current popular support rate of 18 per cent in the United States Congress, the lowest since 1974. In its report, the poll said, “It is likely that 2022 will be the year of an overwhelming Republican victory. Democratic control in Congress is facing a very unoptimistic environment.” Analysis predicts that at least the Democrats will lose the House of Representatives, or even the Senate. The Washington Post says that the Speaker of the House, Pelosi, who has become the target, is likely to “depart” after the mid-term elections of 8 November 2022. It is against this same backdrop that Congress Hill politicians are eager to shirk their responsibilities. As at the beginning of the 2020 epidemic, the overstretched Trump government placed the “China label” prominently in the question-and-answer manual known as the “Folder of Lies”. On 2 August, the Speaker of the United States House of Representatives, Pelosi, visited the Taiwan region of China, despite the strong opposition of the Chinese side, becoming the first speaker of the United States House of Representatives and the highest-ranking United States political figure in 25 years. As the international political scholar Millsheimer warned, a great Power will not sacrifice its survival goals in exchange for any other achievement, including prosperity. The preservation of the sovereignty and territorial integrity of States is the bottom line of the survival of the great Powers. Today, however, some American politicians, with their own self-interest, are constantly trying to touch and challenge the bottom line, and the end must have been stoned. The Wolf of Washington. “The Wolf of Washington”, a nickname given by the American media to the Speaker of the United States House of Representatives, Pelosi, over the past year. It didn't come from the Green fairy tale, but from the well-known Wolf of Wall Street, Belfort. George Belfort, who was rich at the end of the last century by insider trading and “cuttering,” was eventually jailed. FBI agent Gerkleman once defined "Wolf on Wall Street" and said, "A brilliant instigator can control everyone around." The media noted that, at a time when the economy of the United States was in recession and the wealth of ordinary people was “cutted” by the gator on Wall Street, the net assets of the Palosi couple rose sharply from 2020, the beginning of the epidemic, to more than $171 million by the end of 2021. According to the United States Political Donations Database, in 2021, the Perosi family had the second highest return on investment among all members of Parliament, up to 56.15 per cent, twice as high as Buffett's (26 per cent) return on investment in value rather than “speculation”. What's interesting is that Palosi's husband Paul's exact time to invest, often before the United States Congress passed a bill to distribute money. The public wonders whether this “Congress Hill” family has received some “intel” information. Because it's a free market, it's a free market economy in which people can participate freely. Perosi's husband's drinking and driving has given rise to a privilege challenge. Pelosi claims that he doesn't know how to invest, and that Paul, the investor's husband, is taking care of it. But Paul has also been in trouble lately. On the night of 28 May 2022, Paul Palosi hosted a small dinner at a private estate in Yantville, Napa County, California. After that, a Porsche car crashed into a jeep, seriously injuring each other. Court documents show that when the police asked for documents, Paul, who had two eyes red and a taste of alcohol, first placed on the police officer a driver's licence with his own name and a “California Road Patrol's Life Card” with no real signature. This golden flash card is not unusual for the Palosi family, but for the families of ordinary road patrol officers, it is possible to obtain a college scholarship on the basis of membership, which seems to suggest a lot. The host of Fox TV, Waters, said, “It's so beautiful that you can't look at it.” Subsequently, the police gave Paul at least two hours of “drinking time” for alcohol testing, which showed an alcohol content of 82 milligrams per 100 milliliters of blood. Under Californian law, more than 80 milligrams of DUI were subsequently detected by the police as containing a “drug” component, but Paul was released the following morning after paying a bail of 5000Yuan. McNani, former White House press secretary: Palosi's husband's “police privilege card”: a privileged life, that's what Americans despise. It's not wealth, but it's being used in a hypocritical way, contrary to the way ordinary Americans operate. On 1 August, the District Attorney of Napa County, California, stated that Paul Palosi would be summoned on the morning of 3 August, but the trial judge was replaced by a hard-line supporter of the Democratic Party, a new person with no experience in the case. Paul did not appear in court as required on 3 August. Fifteen hundred angry citizens called the police and condemned the Palosi family. A "double-bill" American politician. By contrast, on 1 August, Guy Refit, a man from Texas who had been involved in the riots on Congressional Hill, was sentenced to seven years and three months' “heavy punishment” for obstruction of justice, among others. Guy Refett's family: this is political persecution... so wake up, America, not just about Guy Wesley Refett. While those involved in the riots deserved it, they also provoked civil disputes in the United States. On 24 July, the public opinion survey of the Institute of Political Studies of the University of Chicago, Our precarious democracy, showed that over half of the Democrats and about two thirds of Republicans and independents believed that “the United States Government is corrupt”. The “double sign” of American politicians is also amply borne out by the fact that Palosi, the top politician of Congress Hill, who praises the unrest in other countries as a “beautiful landscape”, met with civil unrest in his own country and advocated severe punishment for the perpetrators who took his podium. My people ask me what the three most important things facing Congress are. I always give the same answer, our children, our children, our children. In January 2022, Paul Pelosi, a 53-year-old only child, was investigated for the sixth time by the United States Federal Bureau of Investigation on suspicion of bribery of a San Francisco City government official. In November 2019, the United States National Archives News Network reported that Little Paul had been a member of the Board of Directors of the United States Viscoil Holdings in 2013, which was in charge of the natural gas company NRGLab's operations in Ukraine. Perosi's son, Paul Pelosi: My name is Paul Pelosi. Of course, I'm the director of Viscoil Natural Gas. Viscoil is here today and we're going to find a way to speed things up to the future. To visit Taiwan just to sit at the top of power? According to the outside world, Pelaussi’s visit to Taiwan was taking place in an unprecedented intensification of the domestic economic crisis in the United States, with his own family’s corruption scandals, the role of American politicians in provoking the Russian-Ukraine conflict being questioned, and the American people’s profound dissatisfaction with the “Peroxi privilege”. It is no surprise to divert public attention through “doing things” and to take the opportunity to regain power. With regard to the consequences of the Pelace visit, the United States newspaper Connecticut Post published an article by Li Sun-chul, an academic at the Institute of Ethnic Studies of the University of San Francisco, in which it was argued that even in San Francisco, where there were 187,000 Chinese voters, most of whom were of second, third and even fourth generation Chinese origin, they presented their identity to the outside world as simple “Chinese”. The visit of Palosi today not only has once again been a victim of Chineseism in the United States, but it has made his Asian American situation worse, and it is bound to have some impact on Palosi’s voter base. The recent cartoon, for example, shows people's dissatisfaction with the persistent Perosi: Mirror mirror, who's the most popular person in San Francisco? The voters in your own home are going to replace you. What Pelosi is doing now is fueling the fire at a time of unforeseeable consequences. “The United States has turned back and has no credibility in the international community.” On 4 August, Zacaria, the editor-in-chief of the magazine Foreign Affairs, was the head of the United States cable news network, and wrote in the Washington Post that the most bizarre thing was that the Chinese-American crisis surrounding Taiwan had long been documented, and that the United States had been driven by its own domestic political wrongs. This, in turn, is linked to the hegemonic traditions of the United States. In February 2022, the United States released a new edition of the Indo-Pacific Strategy report, which contains content on the table, in an attempt to print the paper “NATO” and maintain a United States-led hegemonic system. In March, the United States Department of Defense submitted a “confidential version” of the National Defence Strategy report to Congress, reordering the threat to the United States into a “1+1+3” structure and describing China as the “most important strategic competitor”. US Secretary of Defense Austin stressed that the cornerstone of America's new defense strategy is a “comprehensive deterrent.” Behind the so-called “comprehensive deterrent” is the US's constant “demonstration” of using “strategic ambiguity” as a cover, with caution and a “cut sausage” approach to playing the Taiwan card. The strategy is vague and has always been the American policy towards China. However, it has been sending the wrong signal in recent times. "Pelace's political show will accelerate the end of the United States." By contrast, according to rough statistics, the Senate of the United States Congress and the House of Representatives of Perosi, which acted as Speaker, submitted 134 proposals as of 3 August 2022 in the 117th Congress of the post-Baden Congress. Ironically, the old rival of Pelosi, the Republican media, is more aware of this. Fawkes TV hosts Tucker Carlson: They mess things up, they show things, they make things worse. They will continue to do the next thing, they will never apologize. They will do it in Afghanistan, they will do it in Iraq, they will do it in Ukraine, they will do it in Syria, they will do it in Libya, and will they do it in China now? Perhaps all of them are fully aware of the reckless consequences of doing so, and fully aware of the implications, they prefer to do so, not just to do so. The “hegemonic thinking” led to a diplomatic failure in the United States. Jeffrey Sachs, former Special Adviser to the Secretary-General of the United Nations and well-known American economist, argued that the United States hegemonism, which led to its diplomatic failure, considered “the primacy of the United States”. Every time the red light of recession comes on, the hegemonic thinking of the United States begins to struggle and expand, leading to a new wave of turmoil. The French current affairs commentator, Enewman Todd, is a learned scholar who “paints” and learns from the experience of the historic Western Empire. In his book The Decline of the United States Empire, he states that today’s US has no power to control other economic or strategic powers. If the US continues to use the inertia of the past as the world’s police, it will lose its last game of maintaining its so-called “world hegemony,” and will have to face the same fate as the empires that have sprung up in history.


Note: This is a machine translated version of the Chinese news media article. A mature and nuanced reading is suggested.




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World Weekly丨The domestic crisis is heavy, but the United States uses hegemony to cover it up


2022-08-08: [Article Link]  The U.S. uses hegemony to cover it up. Original title: World Weekly: Domestic crisis, America using hegemony to cover it up. Recently, the economy of the United States emerged in the new quarter, with GDP falling by 0.9% per year in the second quarter, contracting again after 1.6% year-on-year decline in the first quarter. US media analysis suggests that negative growth for two consecutive quarters means a “technical recession” in the United States economy. The Washington Post asks, “Is the recession in the United States really technical?” The answer is not so simple, I'm afraid. As the only super-Power in the post-cold war world, the United States now has three global hegemonic powers: military, monetary, and technological. This week, however, a series of acts of incitement by the United States to destabilize the region and provoke regional tensions have further exposed its attempts to cover up domestic crises through acts of hegemony. Elephants in the room -- recession. The phrase “the elephant in the room”, is derived from an euphemism by the Russian writer Ivan Krelov of 1814. A man hurriedly visited the museum and turned a blind eye to small insects and elephants in the hall. In this way, Chrérov made a mockery of the long-standing slowness and prejudice of the Western countries against Russia at the time. And what corresponds to the elephant in the room is the child who told the truth in the Emperor's new dress. On 28 July, an elephant was finally pulled out of the background board by the Mayor of New York by the name of “the recession”. And Adams said that same day, when he took part in a non-profit initiative called the Happiness Plan: "Wall Street is collapsing. We're in a recession." However, when Adams was asked whether he believed that the Biden government was wrong about the recession, he seemed to have deliberately retracted what he had said earlier and instead said “politically correct”: “We will recover. The President will decide on the official version of what we are in, and I will follow the President’s leadership and believe in him.” The President of the United States, the finance officer, spoke on "End the Fire" to stabilize the people's hearts and minds. And President Biden, who had just ended the positive isolation of Covid-19, reassured the people: "I'm fine, I'm fine." US President Biden: First of all, our job market is at an all-time high. The unemployment rate today is 3.6 per cent. Since my presidency, we have created 9 million new jobs and businesses are investing in the United States at record rates. In addition to Biden, United States Treasury Secretary Yalun and Federal Reserve Chairman Powell have come forward to “celebrate the fire” and stabilize the people. U.S. Treasury Secretary Yale: The real recession is widespread economic weakness, and we don't see it now. US Federal Reserve Chairman Powell: I don't think the US is in recession because we're doing so well in too many areas of the economy. Fox News stated that Democrats “redefined the recession” to cover up their own faults. However, the “technical recession” that was “redefined” was as creative as the “good thing” of an apple phone released by Jobs many years ago and as painful as the Great Depression of the 1930s. The discussion itself, by the economist Brian Riedel of the Manhattan Institute, was extremely political. "This is actually just a debate about labels, which is important for political propaganda and, ultimately, for the political legacy. Biden does not want to see himself labeled as an economy in recession." In the face of the recession, the general public knows it. In fact, regardless of official whitewashing, ordinary people can cut their bodies in concrete and real terms. New York resident Vidal: I have children, and we don't know if we can find a new home for our children if we're expelled from here. Fifteen years ago, Vidal came to New York from Latin America, worked as a tour guide in Manhattan, and a family of four was not rich, but stable. In 2020, following the outbreak of Covid-19, tourists fell sharply, and Vidal lost his job overnight. No tourists, no tourists, I totally lost my income. What is worse is that New York’s rents have been rising for the last two years. In February this year, Vidal was informed that the rent for their rentals would increase from US$ 1,100 to US$ 1900. NY resident Vidal: I'm scared because the rent has nearly doubled, and obviously we can't afford it. According to the American Broadcasting Corporation, between June 2021 and June 2022, the rent for one room in New York rose by about 41 per cent. According to the New Fox Network, the continued surge in mortgage interest rates in the United States prevented the sale of real estate across the United States, which in turn led to higher rental costs for housing. New York convenience store owner: Basically, prices are rising every week, and there's no sign of falling in the short term. There's an increase in the price of food in this restaurant, a rise in the price of gasoline, a rise in the price of everything. Today, it may not be easy to buy a box of lunch meat or tuna cans in New York for less than $2. On 30 July, the United States newspaper The New York Post reported that, because of the serious inflation and crime problems facing the City of New York, cheap canned foods such as lunch meat and tuna cans were locked in plastic boxes in shops to prevent theft. In response, the New York Post commented that “the national crisis is in a small box”. The price of gasoline, rent, food, and everything else is higher than the sky, and it is not over yet. In short, consumer prices are rising at the fastest rate in more than 40 years. A recent poll showed that nearly 94 per cent of respondents were worried about inflation, with 62 per cent of respondents arguing that the biggest problem facing the United States was inflation. The newly married couple had been married with a credit card and had had to cut off their clothes for a long period of time in order to repay the $15,000 credit card debt. Residents of Colorado, USA: We want to buy a house, we don't have a house. We're in our 30s, but it's still hard. We thought it might be easy to pay off our credit cards before. The rise in inflation triggered a chain reaction. According to the latest data released by the Federal Reserve Bank of New York, the total family debt of the United States at the end of June of this year amounted to $161.5 billion, an increase of $312 billion over the same period last year, with rising mortgages, car loans and credit card arrears. Additional data show that Americans'credit card arrears increased by $46 billion in the second quarter of the year, 13 per cent compared to the same period in the previous year, resulting in the largest year-on-year increase in more than 20 years. Analysts warn that default rates for subprime loans and low-income borrowers are rising. The US National Broadcasting Corporation (NCB) analyses that housing transactions are falling sharply, prices are rising rapidly, economists warn that the US economy will be in recession, and the Fed is struggling to use higher interest rates to extinguish inflation, making the borrowing costs for households and businesses even higher. “The data show that the United States economy is at least on the verge of recession.” On 27 July, the Budget Office of the United States Congress (CBO) released data showing that the size of the United States federal government debt is expected to reach 98 per cent of GDP this year and rise to 185 per cent of GDP in 2051. According to the latest polls, 74 per cent of United States voters considered inflation to be a “very important” issue in the mid-term elections and a matter of primary concern to them at the moment. The Wall Street Journal study found that every inflation in the United States since World War II had been accompanied by a decline in GDP and an increase in unemployment. Senior editor of the Wall Street Journal, Hilsenlat: For most Americans, when do you feel recession when you start worrying about your work? High demand for employment and large-scale layoffs However, this contraction in 2022 was somewhat aberrant. In June this year, the United States labour force participation rate dropped to a 40-year low of 62.2 per cent, while the vacancy rate in reverse positions remained high. High-level editor of the Wall Street Journal, Hilsenrat: There are about 11 million jobs out of reach. Now, if you look back, in 2019, when the economy was considered exceptionally strong, there were about 7 million vacancies, but we are talking about the recession. Indeed, it is the very low unemployment rate and the high vacancy rate for posts that are the main reasons for the Biden Government's denial of the “recession”. The Wall Street Journal notes, however, that this phenomenon has particular causes and is not sustainable. The senior editor of the Wall Street Journal, Hilsenrat: We have millions of baby boomers retiring, so we don’t have that many people working. And yet, there is a strong demand for goods and services as a result of stimulus measures during the epidemic. On the other hand, the recent retrenchment of science and technology companies has continued in response to the continuing impact of a high inflation and interest rate environment. Statistics show that, by the end of July, more than 32,000 employees in the US science and technology industry had been laid off during this year’s massive lay-offs. The impact was particularly severe for start-up technology firms. Technology giant Oracle announced plans to lay off thousands of people globally, thus cutting costs by almost $1 billion; The encrypted currency trading platform Coinbase stated that recruitment would be slowed down, that the offers given would be cancelled and that about 1,100 employees would be dismissed; In June of this year, Chief Executive Officer Tesla Musk indicated that recruitment would be suspended and downsized by 10 per cent, as he had a “super-bad feeling” about the economy; In addition, large technology giants, such as Microsoft, Google, Apple and Naifi, have promoted downsizing schemes or slowed recruitment. Unprecedented high inflation not only made the Americans miserable, it also forced the world to pay for America's policy failures. Politicians, for its part, said that the world felt pressure as the United States Central Bank raised interest rates. On 26 July, the International Monetary Fund issued its latest World Economic Outlook Report, which assessed the impact of interest increases in developed economies on emerging markets and developing economies. The report warns: “Increased borrowing costs, declining credit flows, stronger United States dollar and slower economic growth will trap more countries.” — International Monetary Fund "The American Dream" broke in an instant. In August, the mid-term elections in the United States also officially entered the countdown of three months, with the exception of the worst economy. This is accompanied by migration issues that go hand in hand with firearms, racial discrimination, and unequal distribution. When the elephants in the room lined up, the American dream broke. In the early hours of 24 July, at least 17 people were killed in the waters near the Bahamas by a boat carrying illegal Haitian migrants, destined for Miami, Florida, United States. On 27 June, at least 53 bodies were found in an abandoned truck in the city of St. Anthony, Texas. This was one of the most serious deaths of immigrants in the United States in recent years. In mid-July, the remains of three Mexican victims were returned to their homes. The three victims were young people, of whom Jail was 20 years old and Misar and Yowani were only 16. Their families said that the children had been on the death train for the sake of the “American dream” and had never thought that it would be such a “human tragedy”, leaving their parents with a “negative nightmare” for a long time. The immigration issue has triggered a new party conflict. It is worth mentioning that after the tragic events of 28 June, the first thing the Governor of Texas, Abbot, did was to dump the pot for the Democratic President. “These deaths were caused by Biden and were the result of his deadly open border policy.” The following day, Abbot announced the upgrading of border controls and the deployment of State police to establish additional road checkpoints for the exclusive inspection of large vehicles. The Texas Public Security Department will immediately implement a more rigorous checkpoint strategy, focusing on large trucks like this death truck. According to some commentators in the United States, political rivalries between the two parties have made the border a “probably expensive campaign prop” and illegal immigrants a “political pawn.” As the American columnist Julio Ricardo Varela has said, the issue of American immigration is manipulated for political purposes, which has made the Democratic Party’s election a matter of urgency. The model of the Colombian Broadcasting Corporation news front tracker (CBS News Battled Tracker) has recently shown that if the midterm elections in November are held today, the Republican party will win 25 seats in the Chamber of Deputies. The poll analysis shows that the Republicans will win 230 seats, while the Democrats will hold 205 seats, while the majority of the House of Representatives will need 218 seats. Behind the entanglement of the two parties is the poor performance of the current Government and Congress. The support rate has been reduced to the lowest, and the American politicians are eager to shirk their responsibilities. According to the latest Gallup poll, the Biden support rate fell by 40 per cent for the first time since taking office in July this year, setting a career threshold. In May, the Gallup poll showed a current popular support rate of 18 per cent in the United States Congress, the lowest since 1974. In its report, the poll said, “It is likely that 2022 will be the year of an overwhelming Republican victory. Democratic control in Congress is facing a very unoptimistic environment.” Analysis predicts that at least the Democrats will lose the House of Representatives, or even the Senate. The Washington Post says that the Speaker of the House, Pelosi, who has become the target, is likely to “depart” after the mid-term elections of 8 November 2022. It is against this same backdrop that Congress Hill politicians are eager to shirk their responsibilities. As at the beginning of the 2020 epidemic, the overstretched Trump government placed the “China label” prominently in the question-and-answer manual known as the “Folder of Lies”. On 2 August, the Speaker of the United States House of Representatives, Pelosi, visited the Taiwan region of China, despite the strong opposition of the Chinese side, becoming the first speaker of the United States House of Representatives and the highest-ranking United States political figure in 25 years. As the international political scholar Millsheimer warned, a great Power will not sacrifice its survival goals in exchange for any other achievement, including prosperity. The preservation of the sovereignty and territorial integrity of States is the bottom line of the survival of the great Powers. Today, however, some American politicians, with their own self-interest, are constantly trying to touch and challenge the bottom line, and the end must have been stoned. The Wolf of Washington. “The Wolf of Washington”, a nickname given by the American media to the Speaker of the United States House of Representatives, Pelosi, over the past year. It didn't come from the Green fairy tale, but from the well-known Wolf of Wall Street, Belfort. George Belfort, who was rich at the end of the last century by insider trading and “cuttering,” was eventually jailed. FBI agent Gerkleman once defined "Wolf on Wall Street" and said, "A brilliant instigator can control everyone around." The media noted that, at a time when the economy of the United States was in recession and the wealth of ordinary people was “cutted” by the gator on Wall Street, the net assets of the Palosi couple rose sharply from 2020, the beginning of the epidemic, to more than $171 million by the end of 2021. According to the United States Political Donations Database, in 2021, the Perosi family had the second highest return on investment among all members of Parliament, up to 56.15 per cent, twice as high as Buffett's (26 per cent) return on investment in value rather than “speculation”. What's interesting is that Palosi's husband Paul's exact time to invest, often before the United States Congress passed a bill to distribute money. The public wonders whether this “Congress Hill” family has received some “intel” information. Because it's a free market, it's a free market economy in which people can participate freely. Perosi's husband's drinking and driving has given rise to a privilege challenge. Pelosi claims that he doesn't know how to invest, and that Paul, the investor's husband, is taking care of it. But Paul has also been in trouble lately. On the night of 28 May 2022, Paul Palosi hosted a small dinner at a private estate in Yantville, Napa County, California. After that, a Porsche car crashed into a jeep, seriously injuring each other. Court documents show that when the police asked for documents, Paul, who had two eyes red and a taste of alcohol, first placed on the police officer a driver's licence with his own name and a “California Road Patrol's Life Card” with no real signature. This golden flash card is not unusual for the Palosi family, but for the families of ordinary road patrol officers, it is possible to obtain a college scholarship on the basis of membership, which seems to suggest a lot. The host of Fox TV, Waters, said, “It's so beautiful that you can't look at it.” Subsequently, the police gave Paul at least two hours of “drinking time” for alcohol testing, which showed an alcohol content of 82 milligrams per 100 milliliters of blood. Under Californian law, more than 80 milligrams of DUI were subsequently detected by the police as containing a “drug” component, but Paul was released the following morning after paying a bail of 5000Yuan. McNani, former White House press secretary: Palosi's husband's “police privilege card”: a privileged life, that's what Americans despise. It's not wealth, but it's being used in a hypocritical way, contrary to the way ordinary Americans operate. On 1 August, the District Attorney of Napa County, California, stated that Paul Palosi would be summoned on the morning of 3 August, but the trial judge was replaced by a hard-line supporter of the Democratic Party, a new person with no experience in the case. Paul did not appear in court as required on 3 August. Fifteen hundred angry citizens called the police and condemned the Palosi family. A "double-bill" American politician. By contrast, on 1 August, Guy Refit, a man from Texas who had been involved in the riots on Congressional Hill, was sentenced to seven years and three months' “heavy punishment” for obstruction of justice, among others. Guy Refett's family: this is political persecution... so wake up, America, not just about Guy Wesley Refett. While those involved in the riots deserved it, they also provoked civil disputes in the United States. On 24 July, the public opinion survey of the Institute of Political Studies of the University of Chicago, Our precarious democracy, showed that over half of the Democrats and about two thirds of Republicans and independents believed that “the United States Government is corrupt”. The “double sign” of American politicians is also amply borne out by the fact that Palosi, the top politician of Congress Hill, who praises the unrest in other countries as a “beautiful landscape”, met with civil unrest in his own country and advocated severe punishment for the perpetrators who took his podium. My people ask me what the three most important things facing Congress are. I always give the same answer, our children, our children, our children. In January 2022, Paul Pelosi, a 53-year-old only child, was investigated for the sixth time by the United States Federal Bureau of Investigation on suspicion of bribery of a San Francisco City government official. In November 2019, the United States National Archives News Network reported that Little Paul had been a member of the Board of Directors of the United States Viscoil Holdings in 2013, which was in charge of the natural gas company NRGLab's operations in Ukraine. Perosi's son, Paul Pelosi: My name is Paul Pelosi. Of course, I'm the director of Viscoil Natural Gas. Viscoil is here today and we're going to find a way to speed things up to the future. To visit Taiwan just to sit at the top of power? According to the outside world, Pelaussi’s visit to Taiwan was taking place in an unprecedented intensification of the domestic economic crisis in the United States, with his own family’s corruption scandals, the role of American politicians in provoking the Russian-Ukraine conflict being questioned, and the American people’s profound dissatisfaction with the “Peroxi privilege”. It is no surprise to divert public attention through “doing things” and to take the opportunity to regain power. With regard to the consequences of the Pelace visit, the United States newspaper Connecticut Post published an article by Li Sun-chul, an academic at the Institute of Ethnic Studies of the University of San Francisco, in which it was argued that even in San Francisco, where there were 187,000 Chinese voters, most of whom were of second, third and even fourth generation Chinese origin, they presented their identity to the outside world as simple “Chinese”. The visit of Palosi today not only has once again been a victim of Chineseism in the United States, but it has made his Asian American situation worse, and it is bound to have some impact on Palosi’s voter base. The recent cartoon, for example, shows people's dissatisfaction with the persistent Perosi: Mirror mirror, who's the most popular person in San Francisco? The voters in your own home are going to replace you. What Pelosi is doing now is fueling the fire at a time of unforeseeable consequences. “The United States has turned back and has no credibility in the international community.” On 4 August, Zacaria, the editor-in-chief of the magazine Foreign Affairs, was the head of the United States cable news network, and wrote in the Washington Post that the most bizarre thing was that the Chinese-American crisis surrounding Taiwan had long been documented, and that the United States had been driven by its own domestic political wrongs. This, in turn, is linked to the hegemonic traditions of the United States. In February 2022, the United States released a new edition of the Indo-Pacific Strategy report, which contains content on the table, in an attempt to print the paper “NATO” and maintain a United States-led hegemonic system. In March, the United States Department of Defense submitted a “confidential version” of the National Defence Strategy report to Congress, reordering the threat to the United States into a “1+1+3” structure and describing China as the “most important strategic competitor”. US Secretary of Defense Austin stressed that the cornerstone of America's new defense strategy is a “comprehensive deterrent.” Behind the so-called “comprehensive deterrent” is the US's constant “demonstration” of using “strategic ambiguity” as a cover, with caution and a “cut sausage” approach to playing the Taiwan card. The strategy is vague and has always been the American policy towards China. However, it has been sending the wrong signal in recent times. "Pelace's political show will accelerate the end of the United States." By contrast, according to rough statistics, the Senate of the United States Congress and the House of Representatives of Perosi, which acted as Speaker, submitted 134 proposals as of 3 August 2022 in the 117th Congress of the post-Baden Congress. Ironically, the old rival of Pelosi, the Republican media, is more aware of this. Fawkes TV hosts Tucker Carlson: They mess things up, they show things, they make things worse. They will continue to do the next thing, they will never apologize. They will do it in Afghanistan, they will do it in Iraq, they will do it in Ukraine, they will do it in Syria, they will do it in Libya, and will they do it in China now? Perhaps all of them are fully aware of the reckless consequences of doing so, and fully aware of the implications, they prefer to do so, not just to do so. The “hegemonic thinking” led to a diplomatic failure in the United States. Jeffrey Sachs, former Special Adviser to the Secretary-General of the United Nations and well-known American economist, argued that the United States hegemonism, which led to its diplomatic failure, considered “the primacy of the United States”. Every time the red light of recession comes on, the hegemonic thinking of the United States begins to struggle and expand, leading to a new wave of turmoil. The French current affairs commentator, Enewman Todd, is a learned scholar who “paints” and learns from the experience of the historic Western Empire. In his book The Decline of the United States Empire, he states that today’s US has no power to control other economic or strategic powers. If the US continues to use the inertia of the past as the world’s police, it will lose its last game of maintaining its so-called “world hegemony,” and will have to face the same fate as the empires that have sprung up in history.

Note: This is a translated version of the Chinese news media article. A mature and nuanced reading is suggested.

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