As outside temperatures in our neck of the woods are beginning to resemble mercury readings on a 'monsoon' day in, say, Singapore, we're not only watching some stunning results at the
FIFA world cup in Russia, but also and far more important, we're reading news about declining cargo volumes between leading trading nations, which some experts claim are the result of a looming
global trade war initiated by the U.S.
The consensus among experts is that an economic recession is quite a realistic possibility thanks to the tariff shenanigans of the populist in the White House who, due to his unsustainable tax cuts earlier this year, has managed to rake up a national debt of more than US$21 trillion in the roughly eighteen months under his watch. This is the same populist who earlier claimed in election speeches that national debt would "destroy our country.“
Experts fear that with yet another (and politically-motivated) tax cut in sight before the mid-term elections in November, America's debt will reach mind-boggling levels, a situation the majority of Republican supporters don't seem to care about.
Add the simmering trade war and rising resentment among former allies and trading partners to Trump's incessant bullying and rambling tweets and you end up with a vitriolic concoction that will easily ignite a global economic meltdown.
Despite all these worrying developments, we're pleased to offer you this month yet another selection of funny, weird and stupid items. So sit back and relax and enjoy this new edition of Punch Bag.
Nol van Fenema