Plus Iran, Syria and Ukraine ...

In just 800 words Pat Buchanan exposes the sheer juvenile delinquency embodied in Washington’s current Ukrainian fiasco.
What motivates Putin seems simple and understandable. He wants the respect due a world power. He sees himself as protector of the Russians left behind in his “near abroad.” He relishes playing Big Power politics. History is full of such men. But what motivates those on our side who seek every opportunity to restart the Cold War? Is it not a desperate desire to appear once again Churchillian, once again heroic, once again relevant, as they saw themselves in the Cold War that ended so long ago? Who is the real problem here?

You can be forgiven for thinking that the world is a pretty terrible place right now, exclaims JPMorgan's Michael Cembalest. With 11.7% of the world's population currently at war (and a considerably larger percentage seemingly on the verge), it seemed an appropriate time to summarize the main geopolitical risk points in the world.

...  Alcoholism, Food Poisoning, a Financial Crash, Obesity, Dog Bites, Doctor Mistakes or “Autoerotic Asphyxiation” than by Terrorists (Getting Hit By ASTEROID = Even Odds)

Meghan O’Sullivan, Harvard's Director of Geopolitics (and former deputy national security adviser for Iran and Afghanistan) warns, "The US should have already panicked." As she notes, major American economic and political interests are at stake. The erasure of the Syria-Iraq border by a group that is considered too radical for al-Qaeda, the takeover of Iraq’s second largest city by IS, the kidnapping of international diplomats, and the declaration of an Islamic caliphate in large parts of Iraq and Syria – each one of these should be a major signal about the gravity of the situation. The Sectarian Divide remains key...

Ukraine, Gaza, Iran, Isis, Syria and Turkey are all just pawns in a grotesque geopolitical game. All sides have their narratives. But in all cases, innocents must die ...

If one were so inclined, one could imagine that the relentless barrage of domestic scandals plaguing Obama have been orchestrated with a simple reason: to divert attention from the worst US foreign policy in four decades. And sure enough, even a casual glimpse of all the raging international crises, in which the US is currently embroiled, is enough to make one wonder if the next global crisis will be fought not in the capital markets but in the actual battlefield. As the WSJ recounts, "a convergence of security crises is playing out around the globe, from the Palestinian territories and Iraq to Ukraine and the South China Sea, posing a serious challenge to President Barack Obama's foreign policy and reflecting a world in which U.S. global power seems increasingly tenuous. The breadth of global instability now unfolding hasn't been seen since the late 1970s, U.S. security strategists say, when the Soviet Union invaded Afghanistan, revolutionary Islamists took power in Iran, and Southeast Asia was reeling in the wake of the U.S. exit from Vietnam."

Congratulations America: after severing ties with Russia, crushing cordial relations with China (leading to this stunning announcement by China's president), alienating France (which is now openly calling for an end to the petrodollar), the Obama administration - following not one, not two, but three spying scandals in just the past year - has managed to sour relations with Germany to a point where one wonders just who is a remaining US ally in Europe these days. According to Bloomberg, the German chancellor’s office has issued instructions to national intelligence services to limit cooperation with U.S. following alleged U.S. spying case, Bild reports without saying where it got information.

This week was interesting to say the least and it is ending with a bang.  We are covering a number of brief subjects this week.  I hope you enjoy them.

With the "Islamic State" grabbing all the headlines, it appears the Taliban have had enough. As Reuters reports, Taliban insurgents set fire on Saturday to about 400 oil tanker trucks supplying fuel for NATO forces in an attack just outside the Afghan capital Kabul, police said. It was unclear how the fire was started. Some Afghan media reported that insurgents had fired rockets at the tankers late on Friday. The attack precedes Monday's preliminary announcement of Afghanistan's presidential election winner - in which both sides have accused the other of mass fraud. The Taliban had vowed to disrupt the process.

In Reality, War Will Bring An End to the Petrodollar, and Impose Hardship on the Average American ...

• France's Sarkozy faces corruption probe in blow to comeback hopes (Reuters)
• Ukraine Says Military Offensive Against Rebels Yielding Results (WSJ)
• JPMorgan Investors Show Support for Dimon in Cancer Fight (BBG)
• World’s ATM Moves to Frankfurt as Yellen’s Fed Slows Cash (BBG)
• Argentina Seen Backtracking on Fernandez Vows as Legacy at Risk (BBG)
• Palestinian teen killed in possible revenge attack (Reuters)
• The Bill and Hillary Clinton Money Machine Taps Corporate Cash (WSJ)
• London House Prices Surge the Most Since 1987, Nationwide Says (BBG)
• Last Jew in Afghanistan faces ruin as kebabs fail to sell (Reuters)

Having declared a caliphate, the terrorist group formerly known as ISIS (or ISIL) has decided a rebranding is in order. Since the group no longer recognizes the political distinction between Iraq and Syria, it has dropped the "Iraq" and "Levant" from its name, making it only the "Islamic State". The leader of the extremist group is looking to build his presence, as AP reports, Abu Bakr al-Baghdadi released a 19-minute tape demanding, "Muslims, rush to your state. Yes, it is your state."

Today, we can finally end any debate on the topic of just where the world's illegal money comes to roost. The answer: ultra-luxury real estate, primarily in New York, courtesy of a report in New York magazine that catches up with what we first said in the summer of 2012, and which is titled, appropriately enough: "Stash Pad."

The number of SWAT team raids in the United States every year is now more than 25 times higher than it was back in 1980.  As America has conducted wars overseas in recent years, our police forces have become increasingly militarized as well.  And without a doubt, many of our cities have become much more dangerous places. Once upon a time, police in America were helpful and friendly and the public generally trusted them.  But now our police forces are being transformed into military-style units that often act like they are in the middle of Iraq or Afghanistan.  The following are 10 facts about the SWATification of America that everyone should know…