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Buiter: Migrant Crisis "May Signal The Beginning Of The End" For EU

"The refugee crisis is undermining the EU’s fundamental principle of free cross-border movement within the Union… This is effectively throwing the EU’s very future in question. This may signal the beginning of the end, the stakes are extremely high."

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It Begins: Europe Flooded With Reports Of "ISIS Terrorists" Posing As Refugees

As part of the refugee crisis in which tens of thousands of innocent Syrians have been displaced and seeking European asylum, it was only a matter of time before one or more was "found" to be ISIS terrorists in order to perpetuate the fear and crisis narrative. A crisis which Brussels would never go to waste. That time has arrived after a report by German RTL and carried by NewObserver that "an ISIS terrorist posing as an "asylum seeker" has been arrested by German police in a “refugee” center in Stuttgart, and German customs officers have seized boxes containing Syrian passports being smuggled into Europe."

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War Drums Beating: Bulgaria Blocks Russian Access To Its Airspace For Syria Flights

While we wait for Greece to pick a side between the US and Russia by either allowing Moscow to use its airspace on the way to supplying Assad at Latakia or else snubbing the Kremlin and jeopardizing a potentially lucrative gas deal, at least one country has been quick to make a decision.

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NATO Opens (Another) Command Post Near Russian Border; Kremlin Warns Against "Cold War Logic"

"The opening of the new units will feed an artificially created confrontation. [This is] the logic of the Cold War. It runs counter to genuine interests of the European and regional security." - Alexander Grushko, Russian ambassador to NATO.

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Italy Is "Willing To Temporarily Suspend Schengen" In Response To Refugee Crisis

Europe's refugee crisis just took a dramatic turn for the worse, and strikes at the very hear of Europe's Shengen customs union which has allowed borderless travel within Europe for decades. As Bloomberg reports, the Italian Province of Bolzano in Northern Italy said in a statement that it agreed with the Italian government on request by German Federal State of Bavaria by "communicating a willingness to restore border controls at Brenner and temporarily suspend the Schengen agreement."

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These Currencies Could Be The Next To Tumble In Global FX Wars

Shockwaves from China’s devaluation have conspired with sluggish global demand and an attendant commodities slump to wreak havoc on developing market currencies the world over. On the heels of Kazakhstan's dramatic move to float the tenge, here's which currencies are next in line to tumble.

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23 Nations Around The World Where Stock Market Crashes Are Already Happening

You can stop waiting for a global financial crisis to happen.  The truth is that one is happening right now.  All over the world, stock markets are already crashing...

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Frontrunning: August 18

  • China stocks slump 6 percent on fears of further yuan depreciation (Reuters)
  • U.S. Lacks Ammo for Next Economic Crisis (Hilsenrath)
  • Emerging Markets Extend Slide as Commodities Fall; Pound Jumps (BBG)
  • China yuan to move both ways, more 'adjustments' unlikely: central bank economist (Reuters)
  • Playing Chinese markets is as simple as 'follow the leader' (Reuters)
  • PBOC Injection Shows China Worries About Outflows (WSJ)
  • Russia Fails to Soothe Oil Concerns as Citi Joins Ruble Bears (BBG)
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10 Disturbing Facts Most Americans Are Too Fearful To Face

Most Americans have no idea that the U.S. corporate fraudulent government can legally lie to you every single day to get you to believe whatever they want you to believe and then turn around behind closed doors and laugh at you for believing their legal lies. Try telling that to most Americans and see how they look at you. This is another example of a hard-to-handle lie that is pushed on Americans every day; and the average working American has no time to truly wrap their heads around this stunning fact so they bury their heads in the sand instead, unwilling to look at the issue because they fear they won’t know what to do with the information.

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Frontrunning: August 4

  • Unhappy Voters Shake Up Presidential Race (WSJ)
  • China stock exchanges step up crackdown on short-selling (Reuters)
  • China Dethroned as World’s Most Liquid Stock Market After Curbs (BBG)
  • Xiaomi retakes the smartphone lead in China as Apple slips (Engadget)
  • Impact of EPA’s Emissions Rule on Industry to Vary (WSJ)
  • Citadel’s Ken Griffin Leaves 2008 Tumble Far Behind (WSJ)
  • Greece says expects bailout deal by Aug 18 (Reuters)
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Fearing Greek Fallout, ECB Extends "Secret" Credit Lines To Balkans

"The European Central Bank has introduced secret credit lines to Bulgaria and Romania as part of a broader effort to convince foreign regulators not to pull the plug on the local subsidiaries of Greek banks," FT reports.

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The Depressing Similarity Between The US and Iran

The share of Americans living on more than $50-a-day dropped from 58% in 2001 to just 56% in Pew Research Center's latest report. The dubious disctinction of this depressing reality is 'exceptional' America is the only developed nation to see its standard of living drop... a narrative not even Greece suffered (but Iran did!!)

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"Greece Is No One's Hostage": Leftist Energy Minister Lays Out €2 Billion Russian Gas Project

Greece's outspoken Energy Minister Panagiotis Lafazanis laid out the details for the country's pipeline project with Russia on Thursday and went out of his way to let PM Alexis Tsipras know that the referendum "no" vote is "not going to become a humiliating 'yes'".

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Why Grexit Is The Most Likely Outcome

1. Greece is already in default to the IMF
2. Greece and the rest of the Eurozone are further apart than ever
3. Capital controls are notoriously hard to unwind
4. The “no” vote protects the Eurozone’s politicians from looking like they pushed Greece out

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