News:Brazorian Business Bund warns of "economic catastrophe"
Wednesday, 9 January, 2019
Peter Faulk, the Chairman of the Brazorian Business Bund (BBB), held a press conference this morning in which he strongly criticised the Brazorian government under Bobby Whitmore for "taking diplomatic brinkmanship too far." Faulk described the Chancellor's anti-CAS measures as "devastating for Brazorian industry," citing the unprecedented 8% fall in the HSX 100 after opening this morning. Faulk went on to say that analysts at the BBB have concluded that the government's efforts to quickly leave the CAS without making preparations for afterwards will cause "an economic catastrophe for Brazoria an entire order of magnitude worse than the Great Depression." Faulk pointed to the large amount of trade which Brazoria participated in through membership in the CAS, and he stated that "it is clear to me that Chancellor Whitmore is intent on destroying our economy and the livelihoods of millions in the name of some obsolete ideological conviction."
After the BBB press conference, the HSX 100 continued to slide down another 2.3%, which has caused the Commission for Securities Exchanges to put an emergency hold on all trading until tomorrow morning. Senior economic and political analysts at BMNB now predict the onset of an economic downturn even before the alleged exit of Brazoria from the CAS, and fears are spreading that soon vital imported goods from across Anglo-America may soon become inaccessible for a wide array of people. There have been reports of violence from grocers and retailers across the country as people have begun to stock up on imported everyday products such as flour, toilet paper, and toothpaste. A spokesperson for the Brazorian government accused the BBB Chairman of spreading "multinationalist propaganda" and inciting "hysteria" in the public. The spokesperson warned that Chairman Faulk could face criminal charges for "causing widespread panic across the country."
Meanwhile, foreign Anglo-American markets have also begun to suffer from the fallout of the Chancellor's speech last night. Fuel prices have soared by record percentages in countries where there is very little refining operations, and fears are now emerging over a supposed standoff in the Gulf of Mexico. The Brazorian government has issued a warning to all foreign companies operating in the Gulf of Mexico that they would need to re-apply for offshore drilling permits in Brazorian waters, and that every tanker and oil rig would need to be put under inspection if it reenters Brazorian territorial waters. Rumours have begun to surface among government insiders that the Chancellor may be preparing to seize and nationalise all refining and offshore drilling operations which take place in Brazorian territory. There are also concerns over the status of pipelines which transport not only petroleum but liquid natural gas as well, and the implications that a closed border system would have on the transportation of such fuels throughout North America.