- Fed Decision-Day Guide: QE Tapering to Inflation Debate (BBG)
- Obama says strains over Ukraine not leading to new Cold War with Russia (Reuters)
- Siemens to BP Prepare for Downward Russia Business Spiral (BBG)
- Paying Ransoms, Europe Bankrolls Qaeda Terror (NYT)
- Argentina Banks Preparing Bid to Help Argentina Avoid Default (WSJ)
- Obama Weighs Fewer Deportations of Illegal Immigrants Living in U.S. (WSJ)
- India Warships Off Japan Show Rising Lure as China Counterweight (BBG)
- Hong Kong Popping Housing Bubbles London Can’t Handle (BBG)
- Carnage at U.N. school as Israel pounds Gaza refugee camp (Reuters)
"Shocked" White House Slams "Fabrication" After Israel TV Leaks Damning Transcript Of Obama-Netanyahu Phone CallSubmitted by Tyler Durden on 07/29/2014 23:53 -0400
While the US continues to escalate the conflict with Russia in a tit-for-tat recreation of the Cold War, things for US foreign policy just keep going from bad to worse, with the latest insult coming from none other than close US ally, Israel.
"One reason we know voters will embrace populism is that they already have. It’s what they thought they were getting with Obama...He turned out to be something else altogether. Not long ago optimism was in vogue. Obama’s slogan then was “Yes we can.” Today it could be “It turns out we can’t.”"
Overnight markets have been a continuation of the relative peace observed yesterday before the onslaught of key data later in the week, with the biggest mover standing out as the USDJPY, which briefly touched 102 before sliding lower then recouping losses. This sent the Nikkei 225 up 0.57% despite absolutely atrocious Japanese household spending data, coupled with a major deterioration in employment: at this rate if Abenomics doesn't fix the economy it just may destroy it. Aside from that the last 24 hours could be summed as having a lot of noise but not a lot of excitement. This was best illustrated by the S&P500’s (+0.03%) performance which was the second smallest gain YTD. And while the SHCOMP is starting to fade its recent euphoria and China was up only 0.24%, Europe continues to cower in the shade of Russian sanctions as both German Bund yields rose to record highs, and Portugal's BES tumbled by 10% once again to 1 week lows. Today Europe is expected to formally reveal its latest Russian sanctions, which should in turn push Europe's already teetering economy back over the edge.
As most are aware by now, today is the 100th anniversary of the start of World War I - the war which was supposed to end all wars, when in reality, in conjunction with the Federal Reserve - which was created just few shorts months prior - it merely unleashed the most deadly series of wars the world has ever seen. What may be less known is that today's "other" anniversary is perhaps just as momentous, if not (yet) as destructive or GDP boosting: on July 28, 2004 is when America got its first glimpse of a political newcomer few if any had heard of previously. Barack Obama.
Is there anyone in the world who is not mocking John Kerry? As AP reports, Obama administration officials were fuming Monday over a torrent of Israeli criticism of Secretary of State John Kerry's latest bid to secure a cease-fire between Israel and Hamas. Israeli media commentators have leveled almost nonstop criticism at Kerry in recent days over his attempts to bring Qatar and Turkey — two countries viewed by Israel as strong Hamas supporters — into the cease-fire negotiations - "U.S. Secretary of State of State John Kerry ruined everything." The White House is not happy - in unusually harsh language, officials said the criticism of Kerry could put the relationship between the U.S. and Israel in jeopardy. They also said the personal attacks on Kerry crossed a line. Another red line crossed?
- Argentine holdout NML says government "choosing" to default (Reuters)
- Crunch time for Gaza truce talks as death toll passes 800 (Reuters)
- Don’t Tell Anybody About This Story on HFT Power Jump Trading (BBG)
- U.S. Accuses Russia of Shelling Eastern Ukraine (BBG)
- France’s Wheat Exports in Question as Rain Spoils Quality (BBG)
- Tapering in action: Lower printer sales hurt Xerox's revenue (Reuters)
- No liquidity? No Problem, there's an ETF for that: Bond ETFs Swelling in Europe as Trading Debt Gets Tougher (BBG)
- Herbalife hires ex-Biden chief to fend off regulators (NYPost)
- GM recalls far from calamity for some dealers who find new customers, business (Reuters)
- Bad weather likely cause of fatal Air Algerie crash: French officials (Reuters)
It had to happen! The blame game on that horrendous airline incident has reached the expected loud monotone of pointing fault, lock, stock and barrel at Russia... and, more specifically, to that villain ex-KGB Slav, Vladimir Putin. The US media barrage of grotesque and obscene propaganda against America’s former foe and competitor has found a leader of this warring marching band in Barack Obama. If the UN is incapable to change or influence the hegemonic geopolitical behavior of the United States... where else can the world look to find resolution to conflicts such as we have in Gaza and Ukraine today? Enter the BRICS group of nations...
From Alexander the Great to British rule, history, if it has a lesson, teaches us that no group of men can conquer the world. It’s simply too big, too vast, and too complex. Humanity is far too restless to sit and take orders from dictators halfway across the globe. The mindset that wishes one country to have an iron-grip on world affairs is horribly naïve. Empires are not free. Washington’s credit card can’t be charged to infinity. The need for prudence is growing larger by the day. For the sake of average Americans, and peaceful citizens across the world, let’s hope it gets here sooner than later.
Exclusive: High-Level NSA Whistleblower Says Blackmail Is a Huge – Unreported – Part of Mass SurveillanceSubmitted by George Washington on 07/23/2014 13:52 -0400
The Untold Story In the NSA Spying Scandal: Blackmail
As Turkey's graft probe continues (which the Prime Minister believes is a conspiracy - fact or not - created by The West), AP reports that Recep Tayyip Erdogan has said he no longer holds "direct" telephone conversations with U.S. President Barack Obama, suggesting a rift between the leaders who were once close. What is perhaps even more concerning is Turkey's recent de-dollarization discussions with Russia to move to settlement in local currencies. It appears 'allies' are falling by the way-side quicker than many thought...
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...