As Gaza Death Toll Surpasses 600 Israel Ambassador Says IDF Deserve Nobel Peace Prize For "Unimaginable Restraint"Submitted by Tyler Durden on 07/22/2014 11:42 -0400
The situation in Gaza has crossed beyond the rabbit hole (or perhaps in this case, tunnel) and has entered the surreal zone.
With a straight face, Barack Obama has been repeatedly telling us that the world is "more stable" and "less violent" than ever. In fact, he believes that this is the best time in history to be alive because of how peaceful and stable everything is. Just this week, his press secretary told the media that this administration has "substantially improved" the "tranquility of the global community". Apparently these guys don't think that we will notice all of the violence, war and terrorism constantly raging all around us.
While the world was riveted by the latest Malaysian Airlines tragedy, Obama and Putin spoke. According to Reuters, Obama warned Russian President Vladimir Putin on Thursday that the United States and its allies are prepared to impose additional sanctions on Moscow if it does not change course in Ukraine.
President Barack Obama hosted Tuesday an Iftar at the White House in celebration of the Holy Month of Ramadan. The Iftar - the sixth to be hosted by Obama since he came to power in 2008 - has become an annual tradition at the White House, gathering diplomats from the Arab and Muslim world. We are sure that was not awkward at all for Obama...
Bottom line: watch your president and government lie every day while pandering and preaching, working solely on behalf of the rich, while you rot away in your part-time jobs or worse, unemployed, surviving day to day on the measly pittance the government hands you to make you a docile little handout addicted serf, and at the end of the day, whatever you do, don't become a jaded, cynical lamenter and disparager, but have "hope and confidence." Truly the road to socialist utopia is paved with best intentions.
Now that the World Cup is over, and following last week's global macro reporting slumber (aside for the Portuguese risk flaring episode of course), things pick up quite a bit in the coming week. Here are the key events.
"The world has changed," explains the 27-year old daughter of David Stevens - CEO of the Mortgage Bankers Association. Despite her father's constant 30-year pitch of the merits of homeownership - and knowing full well that rates are low, rents are high, and owning a home 'builds wealth' - Sara Stevens is not buying. After watching "cousins and other family members go through pretty tough situations in 2008 and 2009," her skepticism is broad-based as Bloomberg reports, t’s more than the weight of student loans, an iffy job market and tight credit -- even those who can buy are hesitant. As Bloomberg so eloquently concludes, when even the cheerleader-in-chief for housing can’t get a rah-rah out of his daughter, you know this time is different.
Economic analysts are torn as to how important Saudi Arabia will prove to the global economy in years ahead. In the first half of 2014, the US surpassed Saudi Arabia to become the world’s foremost oil producer. This sparked widespread predictions that the US would soon become an oil exporter, reducing its dependency on Riyadh and harming Saudi Arabia’s leading role in the Middle-East. However, the ISIS invasion of Iraq and Syria, the Boko Haram insurgency and continued oil theft in Nigeria, unrest in Venezuela and ongoing violence in Sudan and South Sudan have changed the deal.
Cynicism is popular. Cynicism is popular these days. It's what passes off as wisdom. But cynics didn't put a man on the moon. Cynics never won a war. Cynics didn't cure a disease, or start a business, or feed a young mind. Cynicism didn't bring about the right for women to vote, or the right for African Americans to be full citizens. Cynicism is a choice. Hope is a better choice.
And so, as President, I'm going to keep a promise that I made when I first ran: Every day, I will keep asking the same question, and that is, how can I help you? And I'll keep treating your cares and your concerns as my own. And I will keep fighting to restore the American Dream for everybody who's willing to work for it. And I am going to need you to be right there with me. (Applause.) Do not get cynical. Hope is the better choice.
Spying On – and Blackmailing – Politicians, Generals, Judges, Lawyers and Citizens
While recent US relations with Russia plumbed lows unseen since the Cold War, at the same time "succeeding" in cementing relations between Russia and China, the so-called Eurasian, anti-Petrodollar axis, and leading to an accelerated groundbreaking natgas deal between Kremlin and Beijing, at least the department of state had managed to not completely alienate China. Which maybe why China just issued a rather out of place tongue-in-cheek warning overnight, when China’s President Xi Jinping called for greater military communication with the U.S., saying as he opened high-level talks between the two countries that any conflict would be a global disaster.
While Obama certainly enjoyed his game of pool with Colorado governor Hickenlooper, there were no immediate press reports confirming or denying whether Obama had been appropriately "choomed" in the marijuana-friendly city. Here, however, things got a little strange.
- Xi Says China Conflict With U.S. Would Be Disaster (BBG)
- Short selling drops to lowest level since Lehman (FT)
- Scoping the new subprime as watchdogs cry 'bubble' (Reuters)
- Carlos Slim to break up América Móvil empire (FT)
- Jury Acquits Rengan Rajaratnam in Insider-Trading Case (WSJ)
- Hamas rockets land deep in Israel as it bombards Gaza Strip (Reuters)
- Hong Kong Buyers Queue for New Homes After Prices Plunge (BBG)
- Rebel Stronghold in Ukraine Braces for Its Showdown (WSJ)
- Tiny Houses Big With U.S. Owners Seeking Economic Freedom (BBG)
- Chinese Cash-Bearing Buyers Drive U.S. Foreign Sales Jump (BBG)
Obama Worst President Since World War II, More Say US Would Be Better Under Romney, Latest Poll FindsSubmitted by Tyler Durden on 07/02/2014 13:58 -0400
The president is increasingly finding that telling the Mr. Chairmanwoman to rig the market to all time highs does not translate to a comparable popularity rating. In fact, just the opposite. While Obama's slide in the polls is nothing new, the latest data from the Quinnipiac University Poll is about as bad as it gets for the president: in fact, perhaps the only thing more shocking than Obama "surpassing" George W. Bush as the worst president since World War II is the onset of revisionism, with some 45% saying the US would have been better with Romney as president, compared to just 38% who say Obama remains the better choice. Which incidentally confirms what we reported yesterday: while the Republican view of Obama has certainly never been lower, what is worse is that even the core democrat faithful are now giving up on the hope and change bringer, confirmed by the latest Gallup poll which saw democrat confidence in the economy tumbling to the lowest level for 2014.
The battle for favoritism among the 'apparent' leaders in Iraq continues. Russia just delivered the second batch of Sukhoi fighter jets (which will be flown by Iraqi pilots and "are ready to provide air support to the armed forces"), and the US unloaded 4,000 additional Hellfire missiles to support Iraq's fight against the Islamist insurgents. While this morning the intelligentsia of mainstream media proclaimed "the situation in Iraq is calming down" predicated on the fact that oil prices were lower and stocks at record highs, we suspect the additional war material to Iraq will do nothing but increase the determination of the "Islamic State" to increase its Caliphate.