Last weekend we called Obama's latest failed attempt to replace Syria's president for what it is: "this is shaping up to be the most spectacular US foreign policy debacle since Vietnam." Today, less than a week later, we have confirmation that this was correct after first Bloomberg reported that "some top White House advisers and National Security Council staffers are trying to persuade President Barack Obama to scale back U.S. engagement" in Syria, and then a report from the NYT that "the Obama administration has ended the Pentagon’s $500 million program to train and equip Syrian rebels." And just like that Obama folds, again.
"Thanks to President Obama’s leadership and the determination and sacrifice of the American people, we’ve worked our way out of that ditch and put our economy on sounder footing. Now we have to keep going.
To prevent irresponsible behavior on Wall Street from ever again devastating Main Street, we need more accountability, tougher rules and stronger enforcement. I have a plan to build on the progress we’ve made under President Obama and do just that."
“If the US is serious about ensuring that China does not dominate these waters, then the longer it waits, the riskier its freedom-of-navigation activities will become.”
In what seems like a nervous populist move amid Bernie Sanders' gains, Hillary Clinton has flip-flopped rather stunningly to oppose President Obama's Trans-Pacific Partnership. Despite supporting the bill at least 45 times, as CNN's Jake Tapper points out, Clinton told PBS' Judy Woodruff Wednesday in Iowa that, "As of today, I am not in favor of what I have learned about it." It's also a departure from the Clinton legacy, as CNN notes, it was President Bill Clinton who, two decades ago, signed the first mega-regional pact: the North American Free Trade Agreement.
The Trans-Pacific Partnership: Permanently Locking In The Obama Agenda For 40% Of The Global EconomySubmitted by Tyler Durden on 10/06/2015 18:29 -0400
We have just witnessed one of the most significant steps toward a one world economic system that we have ever seen. Negotiations for the Trans-Pacific Partnership have been completed, and if approved it will create the largest trading bloc on the planet. In this treaty, Barack Obama has thrown in all sorts of things that he never would have been able to get through Congress otherwise. And once this treaty is approved, it will be exceedingly difficult to ever make changes to it. So essentially what is happening is that the Obama agenda is being permanently locked in for 40 percent of the global economy.
"He’s no babbling idiot nor is his life worthless. He’s very intelligent and is working on a career in filmmaking. My 18 years worth of experience with and knowledge about Asperger’s syndrome is paying off."
Once again the corporatocracy wins as the so-called "Trojan horse" Trans-Pacific Partnership (TPP) trade agreement has been finalized. As WSJ reports, the U.S., Japan and 10 countries around the Pacific reached a historic accord Monday to lower trade barriers to goods and services and set commercial rules of the road for two-fifths of the global economy, officials said.
By way of excuse for what President Obama called "a tragic incident," (and The UN called a 'war crime') US officials have claimed that the Taliban were fighting from within the Kabul hospital (which was destroyed by a US air strike yesterday killing at least 19 including 3 children) using aid workers as "a human shield." However, this justification for the 'collateral damage' has been vehemently denied by Medecins Sans Frontier (MSF) who have issued a statement dismissing the US claims, "the gates of the hospital compound were closed all night so no one that is not staff, a patient or a caretaker was inside the hospital when the bombing happened..." but, the US strike has done one thing, as one local health official concluded, "this city is no longer for the living."
"The Americans were startled once again when tragic news break out about the deadly campus shooting in Oregon on Thursday. However, the United States is "the only advanced country on earth that sees these kinds of mass shootings every few months," just like President Barack Obama has painfully acknowledged. How come a country as powerful as the United States has been unable to stop this kind of brutal attacks against innocent civilians? The problem is deeply rooted in the country's political system, where bipartisan politics and interest groups exert huge influence, to the point that security of the American people have to give way to political correctness and corporate interests."
- U.S., Allies Demand Russia Stop Attacks on Syria Opposition (BBG)
- Russian Airstrikes Defend Strategic Assad Regime Stronghold on Syria’s Coast (WSJ)
- Emerging Stocks Head for Weekly Advance Before U.S. Jobs Data (BBG)
- Wage Strife Clouds Car-Sales Boom (WSJ)
- Oregon town reels from classroom carnage (Reuters)
- Oregon shooter came from California, described as shy and skittish (Reuters)
"It's living in hell in Syria. They are living in hell," according to Donald Trump, blaming President Obama's failed policies. However, in a reversal of policy - earlier this month he told Fox News the US should take in more refugees - Trump told a New Hampshire rally: "If I win, they're going back."
In a recent appearance before Congress, Deputy Attorney General Sally Quillian Yates declared that the US Department of Justice is going to ratchet up its prosecution of individuals employed in corporations as part of a larger push against “white collar crime.” Within the next year, we should expect to see mid-level business and finance executives doing “perp walks” in front of the news media, as federal prosecutors will charge them with various “economic crimes” in hopes that they will implicate their superiors. All of us by now know the drill and in a time of anemic economic growth complete with business failures, it won’t be hard to find scapegoats.
- Commodities in crisis as Asian shares tumble and shipper files for bankruptcy (Reuters)
- Global Rout Eases as S&P 500 Futures Advance With Oil, Glencore (BBG)
- Chinese Stocks Decline Most in a Month in Hong Kong on Economy (BBG)
- India cuts interest rates by more than expected (BBC)
- Glencore Rebounds as $50 Billion Plunge Is Seen as Excessive (BBG)
- How Congress May Have Saved Goldman Sachs From Itself (BBG)