Good Morning,
Gas…No Gas
I am seriously worried about Britain’s Brexit and how it effects my life because I live in London and am seeing real shortages. Since Britain took this crazy vote to leave the EU because Boris Johnson’s Conservative Party lied about the advantages of doing so, it’s been chaos.
It started with N.Ireland and concerns about redrawing the border with Ireland because now there has to be customs checks between the UK and the EU.
Then we started to hear of truck driver shortages because of lines at the border, and because many European workers left Britain feeling unwelcome and for better paying jobs in other parts of Europe. Daily there are shortages of construction trades workers and shortages in the service industry, where Johnson promised more jobs for British workers, who actually don’t want those low paying jobs.
Slowly the variety of food on the shelves has been disappearing, even at very good stores which always pay a premium for goods from Europe.
Now…now…there are massive lines for fuel. It started last week when the Truck drivers union publicly warned of crisis looming because of a shortage of fuel drivers. That started a run on fuel, and since then through the weekend gas stations have been swarmed for fuel they can’t get fast enough.
At my corner gas station they have put out traffic cones and closed down, as they were cleaned out of fuel Sunday when they opened briefly. The attendant told me today maybe a truck will come but probably not, and yesterday he was assaulted by people trying to cut the cue. The truck comes and there is quickly a lone of 200 cars he says at the Shell.
The Government keeps saying it’s a false panic, that there is no fuel shortage, but they are now talking about emergency work permits for 5000 Europeans to come and drive fuel trucks. Why would they?
And now they are floating the idea of calling out the army to drive fuel trucks. But still Boris Johnson, who has become a laughable leader, says “no fuel shortage, no crisis”.
It’s the perfect storm of pandemic recovery and Brexit, and Britain is suffering even if the Government won’t admit leaving the EU is a disaster for the Island Nation.
Germany - Steady
The most powerful woman in the World has stepped out of politics, and behind Angela Merkel’s departure is political upheaval.
In Germany’s election this weekend the SPD has captured 25.7% of the vote while Merkel's conservatives saw their worst returns in history, preliminary results show. Germany now faces what could be months of messy coalition building.
The leader of the SPD and a possible Merkel replacement, is Olaf Sholtz. You will be hearing a lot about him now, but he is boring but steady. Not a bad thing for Germany and Europe in these unsteady times. Mr Scholz has been Ms Merkel's finance minister and vice chancellor in the uneasy "grand coalition" of conservatives and members of the SPD she had to bring together to form a government in 2017.
German voters rejected extremists and supported centrist moderate political parties.
Back Story Podcast
On this BACK STORY host Dana Lewis talks to Rose Gottemoeller, who as a former Deputy Head of NATO and former Chief negotiator of the New START nuclear arms Treaty with Russia, and she says American President Joe Biden must rethink a deal which cuts out France and gives highly enriched uranium in nuclear powered submarines to Australia.
Here’s what’s interesting. France has LEU Submarine technology, which means low enriched uranium. It cannot be converted to nuclear weapons. But the U.S. and U.K. have decided to sell HEU powered subs, which is weapons grade uranium, or highly enriched. Why? It spread nuclear technology in a dangerous way and will encourage countries like Russia to do the same.
And in part two, we speak to Paul Niland of Lifeline Ukraine, about new and damning reports on Russia's involvement in the war in Ukraine, and calls for Russia to be removed from a cease fire monitoring mission there.
Have a listen, both interviews are terrific.
https://podcasts.apple.com/gb/podcast/australia-submarines-and-in-part-two-ukraine-and-russia/id1512445640?i=1000536493817
China Economy
The financial world is watching the struggles of China Evergrande Group, one of the largest property developers on earth after is last week failed to meet a deadline to make an 83 million dollar payment on $300 billion in debts.
In any other economy, it would send shock waves through the market and spark a sell off, but in China the Gov is playing down the economic consequences and warning other companies it’s a lesson in managing debt.
And of course the Central Gov is managing media coverage and playing down what could be a serious financial crisis if people panic.
That’s a quick look at Monday news headlines. Have a good week everyone.
And if you would like to leave a comment become a paid subscriber! You can buy me a coffee.
Dana
https://www.dw.com/en/german-election-2021-tough-coalition-talks-ahead-live-updates/a-59321612
https://www.bbc.co.uk/news/business-58673567
https://www.nytimes.com/2021/09/26/business/china-evergrande-crisis.html