Classic Expansion Week = Tuesday Low/High of the Week and Thursday High/Low of the Week.
Take profit targets of the TGIF Setup: 20-30% of the weekly range.
Reference:
AM Trades (2023) - The Weekly Profile Guide.Friday, May 17, 2024
Thursday, May 16, 2024
S&P 500 Cycles - Top May 25th [+/-] & Correction into Mid-June | Martin Biber
The medium-term cycle (orange) shows a top around the 25th of May [+/-]. The short-term cycle is topping and has another down-up move into the late May cycle top. After that, we should expect a two to five-week setback before a new uptrend starts.
[My approach only needs a few daily data points to adjust to a new situation.]
Wednesday, May 15, 2024
S&P 500 Voids Potential ABC Correction | Robert Miner
S&P 500 voids potential ABC correction. Bear Reversal signal not made.
Short term high probable by Friday, May 17th. But decline should be corrective not impulsive.
Robert Miner - May 15, 2024
Robert Miner - May 15, 2024
Tuesday, May 14, 2024
S&P 500 Major High on May 23-24 | Allen Reminick
After a high on Tuesday, May 14th the S&P 500 might go sideways to down into Monday, May 20th. The final swing up should occur between May 20th and May 23rd-24th, and could eventually reach above 5,330.
Next should be a first low on June 3rd and another one on June 13th, followed by a rally into June 25th or even through the July 4th weekend. The big move down should be right after July 4th and the more important intermediate swing low on July 24th-26th.
Even if the market now breaks for a couple of months, we are expecting 4,600 in the S&P 500 this year and the long-term uptrend to resume in August 2025.
Next should be a first low on June 3rd and another one on June 13th, followed by a rally into June 25th or even through the July 4th weekend. The big move down should be right after July 4th and the more important intermediate swing low on July 24th-26th.
Even if the market now breaks for a couple of months, we are expecting 4,600 in the S&P 500 this year and the long-term uptrend to resume in August 2025.
Monday, May 13, 2024
Welcome to the UNIT - The De-Dollarization Bombshell | Pepe Escobar
Welcome to the UNIT – a concept that has already been discussed by the financial services and investments working group set up by the BRICS+ Business Council and has a serious shot at becoming official BRICS+ policy as early as in 2025.
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in a de-centralized way, and then recognized and regulated at national level. «
[...] The Global Majority has had enough of the centrally controlled monetary framework put in place 80 years ago in Bretton Woods and its endemic flaws: chronic deficits fueling irresponsible military spending; speculative bubbles; politically motivated sanctions and secondary sanctions; abuse of settlement and payment infrastructure; protectionism; and the lack of fair arbitration. In contrast, the UNIT proposes a reliable, quick and economically efficient solution for cross-border payments. The - transactional - UNIT is a game-changer as a new form of international currency that can be issued in a de-centralized way, and then recognized and regulated at national level.
» Decoupling money from politics will undoubtedly offer unique opportunities
for fair trade and investments across the globe removing economic bypasses created by
political power plays and irresponsible fiscal and monetary policies. «
The strength of the UNIT, conceptually, is to remove direct dependency on the currency of other nations, and to offer especially to the Global Majority a new form of apolitical money - with huge potential for anchoring fair trade and investments. It is indeed a new concept in terms of an international currency - anchored in gold (40%) and BRICS+ currencies (60%). It is neither crypto nor stablecoin. [...] The endgame is that everyone, essentially, may use the UNIT for accounting, bookkeeping, pricing, settling, paying, saving and investing.
See also:
Saturday, May 11, 2024
Russia Needs to Change Its Nuclear Doctrine | Sergey A. Karaganov
So there is the option of our nuclear strike on Ukraine.
Sergey A. Karaganov: Such an option theoretically exists. But I am completely against it. People there have been deceived, but in many ways these are our people. However if we do not change our nuclear doctrine, then NATO can use nuclear weapons against Belarus, which is absolutely unacceptable to us. This is why we should quickly change our outdated, idealistic, and largely carefree doctrine regulating the use of nuclear weapons, which is based on the principles and postulates of the past. And we should also redeploy our armed forces. Some steps are already being made in this regard. Our doctrine states that we can only use nuclear weapons in the event of a mortal threat to our state and statehood.
» Many
of the Western elites lost their sense of self-preservation. Their
intellectual level has fallen sharply
– especially in Europe. The
situation is somewhat better in the United States. There seem to exist remnants
of a strategically-minded political class. But obviously they are not running the show. «
Sergey A. Karaganov - May 9, 2024.
Sergey A. Karaganov - May 9, 2024.
But we have
already deployed our nuclear weapons in Belarus. It should be used there
long before such a mortal threat arises. The enemy must know that we
are ready to use nuclear weapons in response to any attack on our
territory, including bombing. It is up to the President to make the
final decision. But we need to untie our hands. We must understand that
we and all of Europe are doomed to a long war unless we clearly change
our policy in this area. And we will also be doomed to exhaustion and
maybe even defeat. But most importantly, the world will be doomed to the
Third World War. We must eliminate this threat. This is our national
mission. And secondly, this is the mission of the Russian people as the
savior of humankind, which we always have been.
May 9, 2024.
I understand that there will be no nuclear war with America. They love themselves too much. But anything is possible with Europe, which has completely gone off its rocker. In what order should we hit them? Poland, Germany, Great Britain, and the Czech Republic are obviously the first countries that come to mind. Well, France, too, of course.
I really would not like things to go that way. Yes, we will send them to hell. But by doing so we will pave the way for huge moral losses for ourselves. Nuclear weapons are God’s weapons. It’s a scary choice. But God punished Sodom and Gomorrah, which had got mired in madness and profligacy, with a rain of fire. I pray to God that we do not have to take such a step. But it’s about saving the country and the world. You correctly named Poland and Germany. The Baltic countries and Romania could be next. But, I repeat, God forbid!
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May 9, 2024.
Because a large flow of military cargo goes to Ukraine through them. They have set up training centers. They host a large contingent of American troops [...] We must ultimately make sure that Europe can never threaten us again. Well, someday we will cooperate with some European countries and even be friends with them. We do not reject the best European roots in ourselves, and we will take them with us along our main road to the South and the East, to Greater Eurasia.
What about Great Britain?
It does not pose a direct military threat to us. They just habitually befoul, but that’s all.
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» Why is it OK for America to drop two nukes on Japan to end their existential war?
I thought it was OK. So Israel, do whatever you have to do to survive as Jewish state! «
US Senator Lindsey Graham - Mai 9, 2024.
And we will have no one to blame for it but ourselves. «
See also:
Ex UK Prime Minister Boris Johnson - May 9, 2024.
See also:
Friday, May 10, 2024
ICT T.G.I.F. (Thank God It's Friday) Setup | Darya Filipenka
Algorithmic trading is a method of executing trades using pre-programmed instructions or algorithms that automatically trigger trades based on certain conditions. It's a fascinating approach that can help traders make more precise and efficient decisions. Now, let's focus on a specific algorithmic trading model called the TGIF (Thank God It's Friday) setup. This is a day-based algorithmic trading model that can be applied to all assets. As the name suggests, this model is designed to be used on Fridays. The TGIF setup focus is on a market pullback into the current weekly range. It is particularly effective when anchored against higher time frame analysis.
» In the last portion of Friday’s trading, if it hasn't occurred yet, you can expect some retracement of the weekly range. «
When using the TGIF setup it's crucial to approach from a top-down perspective. This means starting with higher time frame analysis, such as monthly or weekly charts, to get a broader view of the market's direction. In candlestick analysis, there is a concept called the ICT Power of 3. This refers to a specific pattern and distribution phase that can indicate a potential reversal or exhaustion in the market. By studying the one-month chart, you identify the weekly range and its key levels. You apply Fibonacci levels to pinpoint the sweet spot where the TGIF setup is likely to occur. You also conduct top-down analysis by examining higher time frame charts to get a broader view of the market's direction. Keep an eye out for the ICT Silver Bullet formation.
To apply the TGIF setup, follow these steps:
- Start by analyzing the higher time frame charts, such as monthly or weekly charts, to get a broader view of the market's direction.
- Identify the Weekly Range Profile and its key levels, such as the High and the Low of the range.
- Use Fibonacci levels to pinpoint sweet spot where the TGIF setup is likely to occur.
- Look for the pullback into the weekly range.
- Pay attention to the ICT Power of 3 pattern in candlestick analysis, which can indicate potential reversals or exhaustion.
- Keep an eye out for the ICT Silver Bullet formation, a powerful pattern that provides valuable insights into market dynamics.
- Combine all these analysis techniques to make informed trading decisions using the TGIF setup.
Thursday, May 9, 2024
The Hidden History of Zionism | Winston S. Churchill
In violent opposition to all this sphere of [national] Jewish effort rise the schemes of the International Jews. The adherents of this sinister confederacy are mostly men reared up among the unhappy populations of countries where Jews are persecuted on account of their race. Most, if not all, of them have forsaken the faith of their forefathers, and divorced from their minds all spiritual hopes of the next world. This movement among the Jews is not new. From the days of Spartacus-Weishaupt (Illuminati) to those of Karl Marx, and down to Trotsky (Russia), Bela Kun (Hungary), Rosa Luxembourg (Germany), and Emma Goldman (USA), this world-wide conspiracy for the overthrow of civilisation and for the reconstitution of society on the basis of arrested development, of envious malevolence, and impossible equality, has been steadily growing.
[...] It played [...] a definitely recognisable part in the tragedy of the French Revolution. It has been the mainspring of every subversive movement during the Nineteenth Century; and now at the last this band of extraordinary personalities from the underworld of the great cities of Europe and America have gripped the Russian people by their heads and have become practically the undisputed masters of that enormous empire.
Winston S. Churchill, Secretary of State for War and Air - 1920.
[...] It played [...] a definitely recognisable part in the tragedy of the French Revolution. It has been the mainspring of every subversive movement during the Nineteenth Century; and now at the last this band of extraordinary personalities from the underworld of the great cities of Europe and America have gripped the Russian people by their heads and have become practically the undisputed masters of that enormous empire.
[...] There is no need to exaggerate the part played in the creation of Bolshevism and in the actual bringing about of the Russian Revolution by these international and for the most part atheistical Jews. It is certainly a very great one; it probably outweighs all others. With the notable exception of Lenin, the majority of the leading figures are Jews. Moreover, the principal inspiration and driving power comes from the Jewish leaders.
[...] In violent contrast to International Communism, Zionism presents to the Jew a national idea of a commanding character. It has fallen to the British Government, as the result of the conquest of Palestine, to have the opportunity and the responsibility of securing for the Jewish race all over the world a home and a centre of national life. Zionism has already become a factor in the political convulsions of Russia, as a powerful competing influence in Bolshevik circles with the international communist system. Nothing could be more significant than the fury with which Trotsky has attacked the Zionists.
[...] The cruel penetration of his mind leaves him in no doubt that his schemes of a world-wide communist State under Jewish domination are directly thwarted and hindered by this new ideal, which directs the energies and the hopes of Jews in every land towards a simpler, a truer, and a far more attainable goal. The struggle which is now beginning between the Zionist and Bolshevik Jews is little less than a struggle for the soul of the Jewish people.
[...] It is particularly important in these circumstances that the national Jews in every country who are loyal to the land of their adoption should come forward on every occasion, as many of them have already done, and take a prominent part in every measure for combating the Bolshevik conspiracy. In this way they will be able to vindicate the honour of the Jewish name and make it clear to all the world that the Bolshevik (Communist, Atheist) movement is not a Jewish movement, but is repudiated vehemently by the great mass of Jewish people.
Quoted from:
See also:
About Our Great Victory | Yuliana Titaeva
Every year on the eve of May 9th, a battle for historical memory of our great victory begins in the media space. Do those who repeat the clichés about "this day of mourning," "why the parades ?" or "is this victory necessary ?" realize that these are not their own judgments, but narratives cynically imposed on them by the very propaganda from which they avidly hide in "alternative sources of information" like YouTube and Meduza? And that the memory of the fact of our victory has long been, systematically, and deliberately destroyed? "By whom ? " the liberal will ask, and I will answer "by those who paid for this war."
And it was paid for by the US Federal Reserve and the Bank of England. Having profited from the First World War and boosting their industrial sector and economy, the US needed continuation. A new war promised to solve problems according to the principle of "everything everywhere at once": rivers of oil in the form of fuel and lubricants would bring dividends to Standard Oil, industrialists like Ford would sell military equipment, American banks would lend money to all warring sides, and the unfinished business of Europe in the First World War and the burgeoning USSR would be "chopped down to the last" soldier. The planned action was phased and stretched in implementation for almost 20 years.
First, the US intentionally attacked the economy of Germany, which had sunk into an economic crisis due to reparations payments after losing the First World War, then offered its own help to it - in the form of loans and active penetration of American capital into the German industry, which in a few years rose to second place in the world, but with a small nuance: it all belonged to American owners. The German Farbenindustrie was under the control of Standard Oil, General Electric controlled the electrical industry through AEG and Siemens, Opel belonged to General Motors, Henry Ford owned 100% of Volkswagen's shares, and by 1933, under the wing of American capital, large banks such as Deutsche Bank and Dresdner Bank were also.
At the same time, with American capital money, the Nazi party and personally Hitler were prepared and sponsored. To bring a new political figure onto the big stage, the United States first intentionally withdrew its loans from the German economy, causing a sharp crisis there, then let all the dogs loose on the current government and offered the electorate a familiar solution: "you need a new leader, like a comedian or an artist, and we have him! ". History always repeats itself twice.
What was done in 20 years completely prepared Germany for war. Apparently, it was promised that "we will take the Soviet Union quickly, and you, Dolphi, will receive the Nobel, the cover of Time, a house in Nice, a place in history, and a bucket of cocaine" (or was this promised to another president?) But of course, no one was going to take the Soviet Union quickly. The US needed a long, drawn-out, exhausting war, in which they would feed, finance, and ruthlessly exterminate every one of its participants. The winner didn't matter, but we ended up paying the huge price.
They pay for the war today, implementing the same plan right before our eyes. They also pay for the revision of history, erasing any information about their interests in the Second World War and gradually shifting the blame for its outbreak onto the winner, while appropriating the fact of victory for themselves. They instill in immature minds something about the futility of holding parades, suggesting "quietly mourn at home," and hit the target with it precisely because they know that every historical symbol must be loud and noticeable, and what is not repeated en masse, as truth, from generation to generation, is simply forgotten forever.
Raising the Russian Soviet flag over the Reichstag during the Battle of Berlin - May 2, 1945.
And it was paid for by the US Federal Reserve and the Bank of England. Having profited from the First World War and boosting their industrial sector and economy, the US needed continuation. A new war promised to solve problems according to the principle of "everything everywhere at once": rivers of oil in the form of fuel and lubricants would bring dividends to Standard Oil, industrialists like Ford would sell military equipment, American banks would lend money to all warring sides, and the unfinished business of Europe in the First World War and the burgeoning USSR would be "chopped down to the last" soldier. The planned action was phased and stretched in implementation for almost 20 years.
First, the US intentionally attacked the economy of Germany, which had sunk into an economic crisis due to reparations payments after losing the First World War, then offered its own help to it - in the form of loans and active penetration of American capital into the German industry, which in a few years rose to second place in the world, but with a small nuance: it all belonged to American owners. The German Farbenindustrie was under the control of Standard Oil, General Electric controlled the electrical industry through AEG and Siemens, Opel belonged to General Motors, Henry Ford owned 100% of Volkswagen's shares, and by 1933, under the wing of American capital, large banks such as Deutsche Bank and Dresdner Bank were also.
Western tanks and military hardware captured by Russian forces in Ukraine on display in Moscow at an exhibition
entitled "Trophies of the Russian Army". It is being held outside a museum celebrating the victory over Nazi Germany in 1945.
The Russian military said it showed "Western help would not stop us winning this war". - May 9, 2024.
At the same time, with American capital money, the Nazi party and personally Hitler were prepared and sponsored. To bring a new political figure onto the big stage, the United States first intentionally withdrew its loans from the German economy, causing a sharp crisis there, then let all the dogs loose on the current government and offered the electorate a familiar solution: "you need a new leader, like a comedian or an artist, and we have him! ". History always repeats itself twice.
What was done in 20 years completely prepared Germany for war. Apparently, it was promised that "we will take the Soviet Union quickly, and you, Dolphi, will receive the Nobel, the cover of Time, a house in Nice, a place in history, and a bucket of cocaine" (or was this promised to another president?) But of course, no one was going to take the Soviet Union quickly. The US needed a long, drawn-out, exhausting war, in which they would feed, finance, and ruthlessly exterminate every one of its participants. The winner didn't matter, but we ended up paying the huge price.
US White House Press Secretary Karine Jean-Pierre re-vealing world history - May 7, 2024.
They pay for the war today, implementing the same plan right before our eyes. They also pay for the revision of history, erasing any information about their interests in the Second World War and gradually shifting the blame for its outbreak onto the winner, while appropriating the fact of victory for themselves. They instill in immature minds something about the futility of holding parades, suggesting "quietly mourn at home," and hit the target with it precisely because they know that every historical symbol must be loud and noticeable, and what is not repeated en masse, as truth, from generation to generation, is simply forgotten forever.
They made hundreds of films about the Jewish people, but not a single film about our 28 million victims, who fell so that Standard Oil would have something to fuel its oil. We did not ask our ancestors for this sacrifice, nor did they ask for it: the historical moment came to give it away, and they did. But now it's our turn to sacrifice and fight for our memory and victory with parades, conversations about the important viewings of "The Dawns Here Are Quiet" and festive posts on May 9th. And we give this sacrifice, it's necessary.
Happy Victory Day.
May 9, 2024
Russian President Vladimir Putin addressing attendees
of the annual Moscow Victory Day military parade - May 9, 2024.
Wednesday, May 8, 2024
How the US Destroyed the German Economy | Cyrus Janssen
"To be an enemy of the US is dangerous, but to be a friend is fatal." This famous quote from Henry Kissinger is now unfolding in real time: Germany, Europe's largest economy and its industrial powerhouse, is now collapsing. Last year, Germany posted the worst performance among all major global economies, with its economy being the only one to actually shrink by 0.3%. Just last month, Germany's economic minister, Robert Habeck, stated that the German economy is performing "dramatically badly." Yet, the Western media has concealed the true cause.
» NATO's purpose is: Keep the Russians out, the Americans in, and the Germans down. «
Lord Hastings Lionel Ismay, NATO's first Secretary General, 1952.
Lord Hastings Lionel Ismay, NATO's first Secretary General, 1952.
» Fuck the European Union! «
Victoria Nuland, US Assistant Secretary of State for European and Eurasian Affairs, 2014.
Victoria Nuland, US Assistant Secretary of State for European and Eurasian Affairs, 2014.
Even worse, this bleak situation shows no signs of improving. There were high hopes that 2024 would turn things around and be a comeback year for Germany. Until recently, the German government projected a growth rate of 1.3%. However, shockingly, they have now been forced to slash this forecast to a mere 0.2%. The scariest part is that most economists and business leaders agree: this isn't just a temporary recession, but a deeper structural problem with the German economic model. If you think this is an exaggeration, consider that, by now, an astonishing two in three German companies have left Germany or at least partially relocated abroad, with most citing sky-high energy prices, inflation, over-regulation, and endless political debates as their reasons for leaving. What or who is causing this catastrophic collapse of Germany's long-standing economic and industrial prowess?
» Halting Russian supplies can well create a systemic crisis that would be devastating
for the German economy and, indirectly, for the entire European Union. «
Germany has been played by the United States and continues to score own goals in tackling this economic crisis. The country's dire situation is caused by three main factors: first, the sky-high energy prices; second, reduced exports to Russia and China; and third, increased military expenditure.
» China called the Nord Stream pipeline blast an act of international terrorism,
and an act of war against Germany and Russia. «
and an act of war against Germany and Russia. «
[...] As much as the US is to blame here, astonishingly, almost all of Germany's political elite, mainstream media, and general population have eagerly obeyed America's wishes to demonize and decouple from Russia and China. This is absolutely bizarre and frankly foolish, as numerous experts and German business leaders have repeatedly warned that decoupling would destroy the German economy. The sad truth is that much of Germany's political and media establishment has a long history of blindly accepting US-formed policy narratives at face value—even when they themselves are the ones getting harmed. The best recent example of this is the bombing of the Nord Stream pipeline, whose sole purpose was to transport natural gas from Russia to Germany and the rest of Western Europe.
Cyrus Janssen - March 12, 2024.
Biden vows that the US will 'bring an end' to the Nord Stream 2 pipeline if Russia invades Ukraine, and German vassal Chancellor Scholz simply agrees. - February 7, 2022.
But it's not just ordinary Germans who have suffered. An astonishing 70% of Germany's mechanical engineering, industrial goods, and automotive sectors have relocated abroad, making it clear why Germany's economic and industrial power has collapsed so rapidly. The US role in Germany's energy crisis is much larger than merely taking advantage of the Germans. Not only did the US openly wish to eliminate Germany's energy relationship with Russia, but it also shares significant blame for causing the war in Ukraine, which led to Germany's crisis in the first place. However, once again, Germany shares the blame: the country's establishment is in virtual lockstep with the United States and has been one of the biggest cheerleaders for severing its energy ties with Russia. You seriously can't make this stuff up.
» Ukraine's victory: whatever it takes, as long as it takes. «
German vassal chancellor Scholz - May 7, 2024.
See also:
The US is in Decline and Desperate Need to Modernize | President of Mexico
After a report from the US State Department about the allegedly “poor” human rights situation in Mexico, Mexican President Andrés Manuel López Obrador (AMLO) launched a counterattack. He warned Washington that there was no government in the world that had the right to interfere in the politics of another nation. Only the USA has repeatedly claimed such special rights in the past. AMLO pronounced: "Mexico will not tolerate such interference. Mexico will never be a protectorate or a colony of another country. Mexico is a free, independent and sovereign country."
AMLO condemned US funding of so-called NGOs - such as terrorist groups and drug cartels - that attack Mexico's legitimate government and its courts. It is above all the USA that should not lean too far out of the window when it comes to human rights: "Imagine if we would announce that the USA are violating human rights, political rights and freedoms, that the Statue of Liberty would be an empty symbol just because they have a presidential candidate who is constantly being dragged into court. How they want to talk about human rights when they are pouring billions of dollars into wars that result in the deaths of innocent people around the world? Why don't they release Assange? Where is the freedom? "
"United States governments are meddling in the internal politics of other countries for at least two centuries. And it is not only giving opinions of good conduct as if they were the judge of the world. They are also intervening militarily in countries with governments not subject to the interests of the United States. That's the story. They used to appoint and remove presidents as they pleased. That is the history of the people of Latin America. Well, in our history they invaded us twice. The first time they forced the Mexican government to sign the Guadalupe Hidalgo Treaty, that is: we lost half of our territory and nine of the fifty US federal states belonged to Mexico. We have not forgotten US Invasions. We have insisted a lot and we will continue to do so: The US must change their arrogant interventionist foreign policy."
» That's just how they are. They are stagnant and ossified in decadence.
They are in decline and desperately need to modernize.
The US must change their arrogant interventionist foreign policy. «
Andrés Manuel López Obrador, President of Mexico - April 24, 2024.
AMLO condemned US funding of so-called NGOs - such as terrorist groups and drug cartels - that attack Mexico's legitimate government and its courts. It is above all the USA that should not lean too far out of the window when it comes to human rights: "Imagine if we would announce that the USA are violating human rights, political rights and freedoms, that the Statue of Liberty would be an empty symbol just because they have a presidential candidate who is constantly being dragged into court. How they want to talk about human rights when they are pouring billions of dollars into wars that result in the deaths of innocent people around the world? Why don't they release Assange? Where is the freedom? "
"United States governments are meddling in the internal politics of other countries for at least two centuries. And it is not only giving opinions of good conduct as if they were the judge of the world. They are also intervening militarily in countries with governments not subject to the interests of the United States. That's the story. They used to appoint and remove presidents as they pleased. That is the history of the people of Latin America. Well, in our history they invaded us twice. The first time they forced the Mexican government to sign the Guadalupe Hidalgo Treaty, that is: we lost half of our territory and nine of the fifty US federal states belonged to Mexico. We have not forgotten US Invasions. We have insisted a lot and we will continue to do so: The US must change their arrogant interventionist foreign policy."
» Cancel NAFTA/USMCA. Ditch the dollar. Re-issue the Mexican gold peso. Join the BRICS. «
For now these topics are official diplomatic taboos still. But chained to a sinking ship, the US'
biggest trading partner becomes increasingly fed up with the inflation-dollar fraud, the drug-war-
pandemic-genocide economy and the insane migration industry of its northern neighbor.
"How come they allocate so much money to war? Why they do not allocate funds to care for their young people who are suffering from drug use; unfortunately, 100,000 young people die every year from fentanyl use. But that's just how they are. And we shouldn't be surprised. That is how it has been historically. That indicates that they are stagnant, and ossified in decadence. They are in decline and desperately need to modernize."
Quoted from:
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