Russians eye the Polish border, if the House abandons Ukraine. It won't take long.

0:00 Speaker 1 What is today is Mario Oconomo, banker worked in the United States and Europe, and he’s going to give us an update. What the heck is going on in Europe. Mario, give us an update. We have a little bit of chaos going on in Washington right now, give us the European perspective.

0:22 Speaker 2 Yes, good morning, Cats, roundtable. So you’re right, there were some chaos going on in Washington, but Europe’s not far behind. They recently just had this past week a conference in Granada, Spain, where the various ministers and prime ministers showed up from around the European Union and the topic was of course immigration or rather migration, how to get a hold on

0:43 the uncontrolled levels of immigration that are happening into Europe across from Africa and from Asia in the Middle East. And they’ve walked away with an agreement which now needs to be passed in the European Parliament, but as well as in every European countries parliament as well. Now it’s going to be interesting to see what happens because certain

1:06 countries Poland for example being one, have an election next weekend and they obviously are very much against any form of immigration or immigration reform. Basically, they do not want any immigrants to be allowed in Germany itself will also be having some regional elections next week, and it looks like the far right AFB party is going to windows

1:28 and if you recall, the three pillars they stand on, is to leave the European Union, no more immigration into Germany, and to rezuom ties with Russia. There was recently an election last week in Slovakia and the person that won, although he’s in the process of having to create a government now, is an individual also who’s very much against

1:51 Europe and he believes in strong relations with Russia as well. He’s against the Ukrainian War, and he said the first thing he’s going to do when he forms a government is to stop immediate aid to the Ukraine. Now that’s important because Slovakia has been one of the largest suppliers of weapons systems to the Ukraine. So this is now

2:14 presenting headaches for Europe as well, because when you have many countries, many of them themselves former Eastern Bloc countries Poland, Hungary, Slovakia standing up and saying we really don’t want more Europe. We definitely don’t want any immigration into our countries from Africa or the Middle East, and we’d like to resume ties with Russia. You’re going to see Europe actually splitting

2:37 down the middle. Now. The immigration thing is important, mister Katsumativi’s because we’ve seen in Sweden the army now is being called into the streets. And that may sound crazy, but the reality is there’s been a tremendous amount of gang violence in Sweden. You had touched upon this if you recall a couple of months ago, and it’s gotten

2:57 to the point now where it’s out of control and it’s and bystanders are essentially being gunned down in the street. So the Swedish government has decided to send the army into Sweden cities.

3:09 Speaker 1 Innocent bystanders are being gunned down in the streets in Sweden.

3:14 Speaker 2 Yes, there are certain parts of Sweden and certain cities which renegade gangs have essentially taken over. And many of the people are coming from countries that really at the age they’re coming into Sweden have never really experienced anything but wars in their home countries, so they’re not assimilating into the culture of Sweden, and they’re essentially taking advantage

3:37 of the various laws that have been set up to protect them. Italy at the recent conference in Malta is maintaining a strong stance against any type of immigration. Greece, of course, has its own problems. The government itself had announced a couple of weeks ago that they wanted to legalize three hundred thousand roughly three hundred thousand people who

4:00 were in the country illegally, but there was a rather vocal outcry for members of the political party that actually runs the government, and the government the Prime Minister essentially backtracked on that idea. But the reality is, if you look across Europe at the moment, nobody wants any more immigration into Europe. And notwithstanding what Brussels is saying and

4:22 the European Commission is saying, and various governments could support immigration are saying, the people themselves are against it. They do not want it anymore.

4:33 Speaker 1 Understood and which countries you know? There was talk that Germany is in tougher shape than than people imagined. Are they in rougher shape than people imagine?

4:48 Speaker 2 Yes they are. Germany is not doing well. In Germany will more likely than not slip into a recession. France in fact has actually reached out to Germany, and this point to the longer terms strategic problem that Europe has, the fact that it has no energy sources. The idea that Europe’s going to be able to generate enough energy

5:08 off of wind, turbines and solar is just pie in the sky. It’s not going to happen. I mean, if they want to have an economy in Europe which is based on people sitting at home watching Netflix and occasionally going to work, then yes. But if you want to have industry, you want to have large scale industrial production

5:25 things like manufacturing cars, refrigerators, televisions, heavy industry, which involves metals and steel, for example. You need a lot of energy and they’re not going to be getting that from solar and wind. So France has actually reached out to Germany and it’s trying to get Germany back on board with respect to nuclear energy. So we’ll have to see

5:49 how that plays out. I’d like to say a couple more things too in Italy that the government there has actually in the last week announced that they’re going to essentially be putting a ten percent price reduction across the board on basic goods. They’re getting a tremendous backlash. People are very unhappy. Inflation continues to run rampant across Europe.

6:12 Speaker 1 Well, a funny thing happened, Mario, A funny thing happened. In the last three or four days. Oil went down ten dollars a barrow. I guess they something’s up at a very high level in the world for that to happen.

6:26 Speaker 3 What say you and that? And we got about thirty second.

6:30 Speaker 2 How about the fact that there’s been a tremendous decrease in consumption because people can’t afford to buy things. So the less people can afford to buy, the less companies have to manufacture. So what they’re basically doing is they’re essentially having people go to bed hungry. And I’m not trying to be a populist here, and I’m not trying to,

6:49 you know, get people to say.

6:50 Speaker 3 I think there’s more involved.

6:53 Speaker 1 Something’s more involved than that, And I think it’s decisions on what they’re going to do with interest rates. And if oil is ninety six dollars, they have no choice but to raise interest rates, which will bankrupt the rest of the country.

7:07 Speaker 2 Yes, but the problem with that, though, mister Katsimatide says how do you actually put more oil in the market in order to bring the price down. If the US isn’t putting it out there, I doubt the Russians are, and the Saudis are. They want to keep oil, like you’ve always said, at one hundred dollars or more. So

7:23 I’m not sure who’s flooding the market with oil.

7:26 Speaker 3 Let’s just close the Mario. You got to go ahead, give me a few seconds.

7:32 Speaker 2 Yeah, I just want to close with one very interesting thing today, which is going to be interesting for Americans who are planning on going to the Olympics in France. France has a tremendous bedbug problem, so much so that the government has actually announced rather extreme measures to tackle bed bugs, not only in hotels, but also on public transport,

7:52 at movie theaters and in various other public indoor venues. So it’ll be interesting to see how they can actually stop dead bugs, which are proving to be a real scourge. Thank you, but also for all of France.

8:07 Speaker 1 Thank you, Mario Kunomo. We’ll catch up again real soon, and God bless you, and and I.

8:13 Speaker 3 Pray for the people of the world. Thank you.