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South Asia Debt Woes Evoke Fears of Another 1997-Style Crisis(Bloomberg - link only)

Colombo (AFP) – Sri Lanka issued an urgent appeal on Monday to tackle rapidly spreading malnutrition among children as its economic crisis leaves nine out of 10 people dependent on state handouts. The bankrupt state, grappling with Sri Lanka's worst economic crisis since independence, was unable to sustain welfare. Sri Lanka's inflation was officially measured at 60.8 percent in July, but private economists say it is well over 100 percent and second only to Zimbabwe. The country ran out of foreign exchange to finance even essential imports late last year and Colombo defaulted on its $51 billion foreign debt in...

Canadian Prime Minister Justin Trudeau ignored cries of anger and desperation from farmers and provincial officials last weekend by pressing ahead with a climate change agenda that will dramatically reduce Canada’s use of fertilizer — the same ruinous strategy that drove Dutch farmers into revolt and destroyed the agriculture of Sri Lanka.The Toronto Sun reported on a dismaying Friday meeting of federal and provincial ministers, in which the latter could not convince the Trudeau administration to show any “flexibility” in its emissions targets, not even with a global food crisis on the horizon:Several provincial governments, and organizations representing farmers have...

Earlier this month, the people of Sri Lanka showed the world what real insurrection looks like. The reason: they’re starving. The cause: disastrous farming policies enforced by that country’s government, ostensibly to counter “climate change.” President Gotabaya Rajapaksa’s ban on chemical fertilizer has brought biblical famine to the land, with food prices soaring 80% and more. Protestors swarmed Colombo, stormed the presidential palace and torched the prime minister’s residence. If only the madness was confined to Sri Lanka. Rajapaksa wants to replace far superior synthetic fertilizer with manure and return to “all natural organic” farming. But he is far from...

-- Sri Lanka borrowed heavily to plug budget shortfalls and trade deficits, but also squandered huge sums on ill-considered infrastructure projects -- Many of these projects now gather dust in the home of the powerful Rajapaksa clan, which used billions in Chinese loans in a failed effort to transform the area An airport without planes, a revolving restaurant with no diners, a debt-laden seaport – Sri Lanka’s economic crisis has been exacerbated by Chinese-funded projects that stand as neglected monuments to government extravagance. The South Asian island nation borrowed heavily to plug years of budget shortfalls and trade deficits, but...

Sri Lanka recently chose to ban fertilizers made from fossil fuel. Anyone who’s not an idiot could have predicted the results.Pretty much every country that participates in the modern, global economy is far better off today than in the recent past. More people have been lifted out of third world poverty in the past 70 years than in the all of the thousands of previous years combined. The only countries that remain in third world poverty are the luddites who choose to reject the modern world. I support using modern technology to give a first world standard of living to...

Riots, famines, societal collapse, and cultural invasion — the globalist agenda has created the perfect storm for national instability. For a year, the Biden administration told Americans inflation wasn’t real. Then it was “transitory.” Then it was “sticky.” Then inflation was miraculously “real” but perfectly expected as a result of Covid-19 workplace lockdowns. Then it was an unfortunate but “necessary cost” for patriotic Americans to pay in defense of Ukraine against Russian aggression. Now inflation has risen to an annual rate of 9.1 percent, the highest in more than 40 years. Tucker Carlson has been outlining how Joe Biden’s Green...

Canadian Ottawa Freedom Convoy organizer Tamara Lich ordered jailed until July 25th... 10 of the 26 active players on the Kansas City Royals baseball team missing a series in Toronto against the Blue Jays this weekend. Those 10 players banned from Canada because they haven't received the COVID shots... The Food and Drug Administration approving the Novavax COVID shot for use in the United States... In Canada a Sikh man acquitted for terrorist attacks that killed 331 people in 1985 was shot and killed today... Dutch Farmers "Seek Asylum" At Migrant Center In Latest Protest... Seven days in jail on...

Over the weekend, a mass of angry Sri Lankan citizens swarmed the presidential palace over an absolute economic collapse in the country, forcing the nation’s prime minister to resign and leading to more civil unrest.There has been a lot of talk over the country’s struggles, but ultimately a lot of the blame comes down to western environmental activism taking hold of the country’s policies and encouraging Sri Lanka to switch how it grows its own food. This has led to smaller crop yields, a massive increase in importing food, and plenty of angry citizens.The problem in Sri Lanka comes from...

A nationwide experiment is abandoned after producing only misery.Faced with a deepening economic and humanitarian crisis, Sri Lanka called off an ill-conceived national experiment in organic agriculture this winter. Sri Lankan President Gotabaya Rajapaksa promised in his 2019 election campaign to transition the country’s farmers to organic agriculture over a period of 10 years. Last April (2021), Rajapaksa’s government made good on that promise, imposing a nationwide ban on the importation and use of synthetic fertilizers and pesticides and ordering the country’s 2 million farmers to go organic.The result was brutal and swift. Against claims that organic methods can produce...

Newsdump Alert: Protesters Storm Sri Lanka's White House... Let's do a Bill Clinton Update. Jerry Lee Lewis sings "Charming Billy"... The pandemic continues... Drugs, Alcohol, Pornography Homicidal And Suicidal Thoughts Follow Then Come The Homicidal And Suicidal Actions Fear is everywhere it is a byproduct of intoxicated living and that includes all kinds of people. I identify as a drunk I go to the drunk meetings to help me stay sober and all professions are represented including government in general and law enforcement in particular. Did you see this come down in Washington DC on the Mall just the other...

Sri Lanka President house is burning down!

India is a massive market that has great potential. If letting go of Sri Lanka allows China to improve its relationship with India, it will.In an interview with Bloomberg earlier this month, Sri Lankan President Gotabaya Rajapaksa said that China appears to have shifted its strategic focus toward Southeast Asia and Africa. China is no longer attentive to South Asian countries in financial trouble as before, he added. Sri Lanka couldn’t secure a $1.5 billion credit line from Beijing, Rajapaksa said. Besides, China has not got back to him on a request to President Xi Jinping for a $1 billion...

Sri Lanka President Gotabaya Rajapaksa announced that he will resign after protesters stormed his palace and set the prime minister's house on fire. BBC reported that prime minister and the president were not in the buildings. Thousands gathered at the capital for a giant protest during which the called on the president to resign following what they defined as "mismanagement of the economic crisis". According to the report, the president will step down on 13 July and the prime minister as well has agreed to resign. .....

Thousands of protesters have stormed the prime minster's house in the capital of Colombo and set it on fire today, hours after he said he would resign when a new government is formed, in the biggest day of angry demonstrations on Saturday that also saw crowds storming the president's home and office. Protesters have set the Prime Minister's residence on fire and broken into the President's home, hours after the Prime Minister he said he would resign over a worsening economic crisis. In videos on social media, red smoke can be seen rising into the sky, as flames take hold....

Sri Lanka's Prime Minister Ranil Wickremesinghe has announced he is stepping down from office on Saturday. The announcement comes hours after tens of thousands of protesters stormed President Gotabaya Rajapaksa's residence in Colombo, forcing him to move to safety. Demonstrations across the country led to an imposed curfew as the economic crisis continues. https://twitter.com/i/events/1545674271325769730

COLOMBO, Sri Lanka (AFP)-Sri Lanka's President Gotabaya Rajapaksa fled his official residence on Saturday shortly before protesters, angered by an unprecedented economic crisis, overran the compound and stormed his nearby office. Thousands of people had surrounded the leader's home to demand his resignation, blaming government mismanagement for a downturn that has subjected this island nation's 22 million people to months of bitter hardship. As the crowd surged the gates of the presidential palace, troops guarding the compound fired in the air to hold them back until Rajapaksa was safely removed...

A curfew imposed in Colombo, Sri Lanka ahead of a protest in the coming hours demanding the resignations of the country's president and prime minister... "This is an absolute disgrace" A judge in Canada revoking the bail of Trucker Freedom Convoy leader Tamara Lich... "Freedom Over Fear" "Restore Our Constitution" That's what the signs read. On the Mall in Washington DC Day 3 of the 1776 Restoration Movement Protest For Constitutional Liberty... Dutch Farmers Protest Cow Gas Rules Today Joined By Fishing Industry... More bad news for Dutch farmers in addition to the nitrogen rules for cow gas... The Biden...

Sri Lanka crowds now chasing and killing the Rich as food and energy shortages hit. Over 200 dead so far, police use live rounds.

People in Sri Lanka have been rioting over the cost of food and lack of energy resources. The military has responded by gunning down protesters. This offers a glimpse of the future if Western countries continue their trajectory of inflations, supply chain issues, food shortages and gas price hikes. Once society collapses, people are the ones to starve as the government makes sure its power remains intact and functional to force people to obey their whims. Troops in Visuvamadu, around 228 miles north of Colombo, fired on civilians on June 18 as their guard point was pelted with stones, said...