- Detroit ‘Gut Kick’ Poses New Test for Long Suffering City (BBG)
- Florida lawmakers urge overhaul of 'Stand Your Ground' law (Reuters)
- Investors pour huge sums into US equity funds (FT)
- Snowden Standoff Threatens Obama-Putin Moscow Summit (BBG)
- China, U.S. companies' great hope, now a drag (Reuters)
- Morgan Stanley stock traders rebuild burned bridges (Reuters)
- Huawei spied for China, claims ex-CIA head Michael Hayden (FT)
- Gorilla Flipping Homes as Rebound Revives Rapid Trades (BBG)
- BRICS joint action at G20 summit may be wishful thinking (Reuters)
One of the prime reasons why the Middle East holds such importance to the West is partiality because it is the main supplier of oil and natural gas to countries in the West. Over the past several decades Western countries had few, if any, options other than to purchase its oil and gas from Middle Eastern oil producing nations despite the headaches that came with it. Headaches, for example, that’s included political unrest, turmoil and strife. But now with the newly found fields of oil and gas in Central Asian countries that are only the beginning of what may lie in these vast oil fields of the steppes and the Caucuses, there may be options.
The "coming economic collapse" has already been happening. You see, the truth is that the economic collapse is not a single event. It has already started, it is happening right now, and it will accelerate during the years ahead. The statistics in this article show very clearly that the U.S. economy has fallen dramatically over the past ten years or so. The mainstream media will continue to scoff knowingly, "An economic collapse is never going to happen. We can consume far more wealth than we produce forever. We can pile up gigantic mountains of debt forever. There is no way that the party is over. In fact, the party is just getting started. Woo-hoo!"Anyone with half a brain should be able to see what is coming. Just open your eyes and look at the facts...
Just nine short months after proclaiming victory on his plan to save Detroit by throwing taxpayer money at the 'problem' of over-levered, over-unioned, and under-demanded auto manufacturers, it seems the ball is back in President Obama's court once again. He "refused to throw in the towel and do nothing. We refused to let Detroit go bankrupt. We bet on American workers and American ingenuity, and three years later, that bet is paying off in a big way." Of course, what the rest of the unsuspecting US citizenry is likely unaware of yet is that once again the municipal workers' pension plans (that face 90% losses) will be bailed-out via the Pension Benefits Guaranty Corporation (PBGC) - A US Government (ponzi) Agency. But of course, that's for the good of the whole nation...
There is a very simple and elegant solution to declining defense spending, one which has been used time and again in US history when the US government needed to provide the Fed with more securities (i.e. deficit) to monetize: war. According to RT that, or rather its more politicall correct equivalent "kinetic strikes", is what may be just over the horizon. RT reports that President Barack Obama is considering using military force in Syria, and the Pentagon has prepared various scenarios for possible United States intervention. Army Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff, said the Obama administration is deliberating whether or not it should use the brute of the US military in Syria during a Thursday morning Senate hearing. Gen. Dempsey said the administration was considering using “kinetic strikes” in Syria and said "issue is under deliberation inside of our agencies of government,” the Associated Press reported from Washington.
Federal Reserve Chairman Ben Bernanke said this week that inflation in the United States needs to be higher. It almost seems as if Bernanke is trying to purposely hurt the middle class. But what Bernanke will never admit is that the official inflation rate is a total sham. The way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is. If the rate of inflation was still calculated the way that it was back in 1980, it would be about 8 percent right now and everyone would be screaming about the fact that inflation is way too high...
- Greece's Economic Future 'Uncertain,' Creditors Say (WSJ)
- Secret Court's Redefinition of 'Relevant' Empowered Vast NSA Data-Gathering (WSJ)
- Thomson Reuters Halts Early Peeks At Consumer Data (WSJ)
- Larry Summers Circles as Fed Opening Looms (WSJ)
- S&P to Argue Puffery Defense in First Courtroom Test (BBG)
- Geithner joins top table of public speakers with lucrative appearances (FT)
- Losing $317 Billion Makes U.S. Debt Safer for Mizuho to HSBC (BBG)
- Pilot Error Eyed in San Francisco Plane Crash (WSJ)
- Investment group sues U.S. over Fannie, Freddie bailout terms (Reuters)
- Egypt officials 'order closure of Islamist party HQ' (AFP)
- Heinz Kerry Transferred to Boston Hospital for Treatment (BBG) - a boating accident?
This weekend's epic indignation by Francois Hollande at the NSA, coupled with his laughable ultimatum for Barack Obama to stop spying, was almost good enough to mask the fact that none other than France has its own version of the NSA happily intercepting and recording every form of electronic communication. Almost. Overnight French Le Monde reported that "France, like the United States with the Prism system, has a large-scale espionage telecommunications device. Le Monde is able to reveal that the General Directorate for External Security (DGSE, special services) has systematically collected and spied on the electromagnetic signals emitted by computers or phones in France, as well as flows between French and abroad all our communications. Politicians are aware of this, but secrecy about the Big Brother operation is the rule."
A world that deserves what's coming to it.
Buenos Aires is the headquarters for the central planning bad idea bus. Argentina’s President, Cristina Fernandez, continues to tighten her stranglehold over the nation’s economy and society. Cristina rules by decree here; there is very little legislative power. She may as well start wearing a crown. Being here in this laboratory of central planning makes a few things abundantly clear and both the United States and pan-European governments are varying degrees of this model, with only a flimsy layer of international credibility separating them from the regime of Cristina. So Argentina is really a perfect case study in things to come.
If the economy is improving, then why aren't things getting better for most average Americans? They tell us that the unemployment rate is going down, but the percentage of Americans that are actually working is exactly the same it was three years ago. They tell us that American families are in better financial shape now, but real disposable income is falling rapidly. They tell us that inflation is low, but every time we go shopping at the grocery store the prices just seem to keep going up. They tell us that the economic crisis is over, and yet poverty and government dependence continue to explode to unprecedented heights. There seems to be a disconnect between what the government and the media are telling us and what is actually true. The following are 36 hard questions about the U.S. economy that everyone should be asking...
If Obama was hoping for a warm reception upon his arrival in the second leg of his 3 nation African tour, in Johannesburg, to celebrate the life of South Africa's critically ill, 94 year old leader Nelson Mandela, he got quite a surprise when local police had to lob stun grenades at local protestors who had gathered at the world's once most famous apartheid ghetto, Soweto, where they chanted against US foreign policy, American drone strikes, US policy in Guantanamo and Iran and much more. They were hardly racist.
Having appeared to confirm no 'actual' American emails were intercepted in previous statements, it seems President Obama has some more questions to answer after the Guardian reveals that in fact, the Obama administration permitted the National Security Agency to continue collecting vast amounts of records detailing the email and Internet usage of Americans for more than two years. “The internet metadata of the sort NSA collected for at least a decade details the accounts to which Americans sent emails and from which they received emails,” the Guardian's Greenwald wrote. “It also details the Internet protocol addresses (IP) used by people inside the United States when sending emails – information which can reflect their physical location. It did not include the content of emails." Is it any wonder that Obama said he was "concerned" about firther leaks today.