"God willing, we will raise the flag of Allah in the White House." This is what an ISIS militant told the camera when we watched the first two parts of Vice News' groundbreaking inside look into the Islamic State's caliphate. And while we still don't know if ISIS is anywhere near close to making good on its threat to the American president's place of residence, here are the next two parts of Vice's 5-part "Islamic State" series.
Why can't, or rather won't, the Fed let the bubble market collapse once again? Simple - as the following chart shows, the illusion of wealth is now most critical when preserving the myth of the welfare state: some 50% of all US pension fund assets are invested in stocks and only 20% in Treasurys.
It was only a matter of time before Ferguson became the Americanized version of Gaza. After last night's looting in which the local police was inexplicably instructed to stand down by the state highway patrol, moments ago Missouri's governor ,Jay Nixon, issued a local state of emergency and imposed a nighttime curfew lasting from midnight until 5 am. As the WSJ reports, at the Greater St. Mark Family Church in St. Louis, Gov. Jay Nixon said the overwhelming number of protesters have been peaceful. But the governor said he would not allow a small number of violent rioters to emerge again in the wake of a police-involved fatal shooting of 18-year-old Michael Brown one week ago. "If we are going to have justice, we must first have and maintain peace," the governor said adding that this is a test if the "town can break the cycle of fear." From where we stand, the answer so far is a resounding no.
President Obama has once again proved his irrelevance and uselessness by failing to say anything meaningful on the disturbing events of the past week. In fact, he only decided to address it personally and publicly yesterday after being heavily criticized for issuing a press release about the party he attended in Martha’s Vineyard as civilians in Missouri clashed with a paramilitary police force. Despite Obama’s complete apathy, there are some Congressmen forcefully speaking out against the trend from “both sides” of the increasingly meaningless Republican and Democrat divide. The most noteworthy thus far appears to be Democrat Rep. Hank Johnson of Georgia’s 4th Congressional district. In fact, he has sent a Dear Colleague letter to fellow representatives of his intention to introduce the Stop Militarizing Law Enforcement Act in September when Congress returns from recess.
At the end of July, 2014, an article was distributed called “seven charts that leave you no choice but to feel optimistic about the US economy”. Although the facts that they presented are correct, the conclusion that they drew is not. In the following sections, we will examine and refute each of the seven pieces of "evidence" that were presented.
Mission Creep: From Rescuing Iraq Refuges, The US Is Now Assisting Kurds In Fighting ISIS With Drones, F-18sSubmitted by Tyler Durden on 08/16/2014 - 18:32
Just over a week ago, Obama announced that the US military intervention in Iraq would be solely under the pretext of "humanitarian intervention" while US troops would be deployed exclusively as "advisers", and nothing else. 7 days later, the siege on Mount Sinjar is virtually over with the US announcing that "far fewer Iraqi refugees were found on mount Sinjar", and yet the US finds it difficult to leave: something which the current president crusaded against his predecessor over. And today it was finally confirmed that the latest US airborne assault of Iraq (so far without a land invasion force) has just suffered terminal mission creep, when US airstrikes, by both F-18s and drones, were used not to protect and safeguard the besieged refuges but to aid Kuridsh forces in retaking the critical Mosul dam from ISIS militants who took control of the critical piece of infrastructure in early August.
The ragged Keynesian excuse that all will be well in Japan once the jump in the consumption tax from 5% to 8% is fully digested is false. Here’s the problem: this is just the beginning of an endless march upwards of Japan’s tax burden to close the yawning fiscal gap left after the current round of tax increases, and to finance its growing retirement colony. There is no possibility that Abenomics will result in “escape velocity” Japan style and that Japan can grow its way out of it enormous fiscal trap. Instead, nominal and real growth will remain pinned to the flatline owing to peak debt, soaring retirements, a shrinking tax base and a tax burden which will rise as far as the eye can see. Call that a Keynesian dystopia. It is a cautionary tale for our times. And Japan, unfortunately, is just patient zero.
It’s a funny world when stocks can soar on a -6.8% Japanese GDP print but stumble when a Russian armored personnel carrier finds itself on the wrong end of a Ukrainian howitzer shell. That’s what you get, though, in the Golden Age of the Central Banker, as all events are filtered through the narrative of central bank control.
The irony of maintaining a veneer of authenticity over a fundamentally inauthentic market is rich: the more the authorities manipulate the market to maintain high valuations and suppress turbulence, the greater the odds of a collapse of trust as inauthentic markets cannot self-correct or discover the price of assets, capital and risk. Once risk has been effectively hidden by perception management, participants lack the essential information they need to make informed decisions. And so their decisions will be catastrophically mis-informed. This is how declines morph into crashes.
"Anti-Putin" Alliance Fraying: Germany, Slovakia, Greece, Czech Republic Urge End To Russian SanctionsSubmitted by Tyler Durden on 08/16/2014 - 11:04
Greece, Slovakia, Czech Republic, Germany... the chorus of voices demanding an end to Russian sanctions is starting to drown out the neocon warmongering efforts of the west...
After a day of relative peace, things turned ugly again in Ferguson when shortly after midnight crowds again resorted to looting and vandalism in multiple businesses along West Florissant Ave with the focal point being the QuikTrip convenience store which Mike Brown allegedly robbed. The incidents seemed to gather steam after 12:00am. According to KTVI, at least 200 St. Louis County Police officers were on scene and helping handle the situation. They confirm the Domino’s Pizza on West Florissant was set fire and burned. They also confirm multiple businesses vandalized and looted. But the shocker happened when county Police told Fox 2 News that its officers were at the Ferguson Market earlier when looters showed up, but were ordered to “Stand down” by Missouri State Highway Patrol incident commanders at the scene and basically withdrew and allowed the looters to have their way with the store.
Today's story of the day just took a major turn for the bizarre...
Aside from English (and Spanish), you may be surprised to find out what the most spoken language in your state is...
If you don’t understand the concept of “order out of chaos,” then you’ll never understand a thing. Each supposed disintegration of global unity has eventually led to greater centralization, and this is something the skeptics seem to forget. The progression of crises suggests that the next war will lead to total globalization under the dominance of a minority of elitists posing as "wise men" who only wish to bring peace and harmony to the masses. In the meantime, the skeptics will continue to mindlessly debate in the face of all reason that the whole thing was a fluke, an act of random mathematical chance, leading coincidentally to the one thing the establishment rulers crave: total global totalitarian micromanagement.