Riots
Bank of America Warns “Civil Unrest” Could Crash Global Economy
“Flashbacks to the days just before the French Revolution are all too real.”
In its latest Fund Manager survey, Bank of America warns that one of the biggest risks that could precipitate a global economic collapse is the prospect of mass “civil unrest.”
While the market is looking bullish thanks to several rounds of positive news regarding a COVID-19 vaccine, BofA Chief Investment Officer Michael Hartnett is telling investors that that sentiment is baked in and it’s now time to “sell the vaccine” in coming weeks/months as we think we’re close to “full bull”.
Coronavirus itself remains the biggest “tail risk” to the global economy for the 8th consecutive month, followed by the “tech bubble.”
However, what’s really raising eyebrows is the factor that BofA considers to be the third most likely threat to financial stability and growth, namely “civil unrest.”
Zero Hedge explains exactly what Bank of America is referring to with its warning of “civil unrest”:
“So what’s going on here, is Wall Street really starting to worry about what we first said back in 2010 – much to Time Magazine’s mockery – that the Fed’s disastrous policies would eventually push US society to armed conflict and/or to civil war. While it may be easy to dismiss such fears as hyperbolic, consider what otherwise level-headed Bloomberg macro commentator (and former Lehman trader) Mark Cudmore wrote overnight in his latest lament that markets are so broken, that in the end it will all “end in tears”, either in the form of collapse of fiat currency or through “political revolution”, read armed conflict.”
“Which brings us back to square one. Because in a world where a handful of traders are the most bullish they have been in 20 years while the living standards of tens of millions of Americans are absolutely dismal with the economy on the verge of yet another depression-causing shutdown, the flashbacks to the days just before the French Revolution are all too real.”
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A live streamer filmed herself driving around Philadelphia looting stores before complaining about being unfairly arrested by police.
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Riots
Videos: Cultural Diversity On Display Again In Sweden
BBC says “angry protesters” clashed with the police
Displays of cultural diversity have yet again broken out in the multiethnic utopia of Sweden.
Otherwise known as migrant riots, the latest violence has erupted in Malmo following a Quran burning by an ‘Anti-Islam activist’ according to the BBC.
“A group of angry protesters tried to stop the burning, which resulted in a showdown between them and police,” the report states.
Take a look at the “angry protesters” in action:
That’s not a protest. It’s a riot.
This exact same thing happened last year in the same areas too:
Over the last 20 years, Sweden has taken in more refugees per capita that any other western country, a process which has seen Sweden go from being one of the safest countries in Europe to the second most dangerous.
Related:
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It is being reported that the French government has restricted access to the internet in certain areas as the country continues to descend into riotous chaos.
The reports note that The French Minister of the Interior under President Macron announced on Sunday that in an effort to prevent rioters from organising on social media, internet access would be cut off in hot spot neighbourhoods in the evening.
Translation:
However, some are claiming that the reports, and the announcement are fake, with the Ministry of the Interior itself saying that no decision has been taken in this regard.
Some are still reporting that access to Twitter and social media is patchy:
Is France really throttling social media?
This development comes after Macron blamed video games for the rioting which has been ongoing now for more than 5 days in multiple cities.
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