THREAD: will your money grow ecb eyes

LABOUR PARTY’S Economic Plan Under Fire: Will It Really Work?

22 July 2024 — Britain’s new Treasury chief, Rachel Reeves, vows to run the economy with “iron discipline.” She hinted at above-inflation pay raises for public sector workers to end ongoing strikes.

The Labour Party, elected two weeks ago, faces pressure to increase salaries and welfare without raising taxes or public borrowing. Reeves criticized the previous Conservative government for high taxes and debt.

Labour won a landslide victory on promises of economic growth, housebuilding, green energy projects, and improved public services. The electorate seeks relief from high living costs and past economic mismanagement.

Inflation has dropped to 2%, but strikes by hospital doctors strain the National Health Service. Other public-sector workers like nurses and teachers have also demanded higher pay through walkouts over the past year.

MASKED PROTESTERS Beware: UK’S New Law Could Land You in Jail and Drain Your Wallet

09 February 2024 — Home Secretary James Cleverly has unveiled fresh legislation that could result in jail time and hefty fines for protesters hiding behind masks. This new addition to the Criminal Justice Bill, currently under parliamentary review, follows a series of intensifying Palestine protests.

Although police already possess the authority to demand mask removal during protests under the 1994 Criminal Justice and Public Order Act, this proposed law would give them additional power. Specifically, they could arrest those who refuse to comply.

This proposal is a response to recent incidents involving masked protesters who made illegal antisemitic remarks but remained untraceable due to police hesitance in making immediate arrests. Under the new law, those apprehended could face up to a month behind bars and a fine of £1,000.

Cleverly also intends to outlaw climbing on war memorials and carrying flares or pyrotechnics at protests. He emphasized that while protesting is a fundamental right, it should not interfere with the daily lives of hard-working citizens. This development comes shortly after mask mandates were lifted, indicating a notable policy shift.

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WHITE HOUSE Pleads: Israel, Restrain Your Gaza Offensive

15 January 2024 — The White House is urging Israel to temper its military offensive in the Gaza Strip. This plea comes as Israeli leaders maintain their resolve towards their operation against Hamas, Gaza’s ruling militant group. The discord between these close allies has become increasingly evident on the 100th day of war.

In response to a Hezbollah missile attack that claimed two Israeli lives, Israeli warplanes have struck back at Lebanon. This recent exchange has stoked fears that the current violence in Gaza could spark a wider conflict across the region.

The war, sparked by an unprecedented Hamas attack on October 7th, has led to nearly 24,000 Palestinian deaths and widespread destruction throughout Gaza. It’s believed that roughly 85% of Gaza’s 2.3 million inhabitants have been forced out of their homes with a quarter facing potential starvation.

John Kirby, spokesman for the White House National Security Council spoke on CBS about ongoing discussions with Israel regarding transitioning to 'low-intensity operations’ within Gaza. Despite this dialogue, Prime Minister Benjamin Netanyahu remains steadfast in his mission to dismantle Hamas and secure freedom for over 100 hostages still held captive.

US-CHINA Economic Reset PROPOSED: Will Higher Tariffs Be the New Norm?

12 December 2023 — A bipartisan committee in the House has put forth a proposal for a complete overhaul of US economic ties with China. This includes the suggestion of implementing higher tariffs. The pivotal recommendations were released in an extensive report by the House Select Committee on Strategic Competition Between the United States and Chinese Communist Party, chaired by Mike Gallagher (R-WI) and Raja Krishnamoorthi (D-IL).

The report posits that since its induction into the World Trade Organization in 2001, Beijing has been engaged in an economic conflict against both the US and its allies. It outlines three key strategies: revamping America’s economic relationship with China, limiting U.S. capital and technological inflow into China, and strengthening U.S. economic resilience with allied support.

One notable recommendation is to shift China to a new tariff column to enforce more robust tariffs. The committee also suggests imposing tariffs on essential semiconductor chips used in everyday devices like phones and cars. This move aims to prevent Chinese domination in this sector from granting Beijing undue control over global economy.