In a vote whose outcome was largely expected, moments ago the Brazilian Senate concluded a marathon 21 hour session with a 55 to 22 vote to suspend President Dilma Rousseff from office to face an impeachment trial, ushering in a new government to take command of Latin America’s largest economy. Rousseff will be tried on allegations she illegally doctored fiscal accounts to mask the size of the budget deficit.
A high-ranking Turkish politician said that Ankara will send migrants back to the EU if the European Parliament won’t grant visa-free travel to Turkish citizens. Kuzu made several statements on Twitter in anticipation of Wednesday’s session of European parliament, at which visa exemption for Turkish nationals in the Schengen zone, as part of a migrant deal between Brussels and Ankara, was to be discussed. "The European Parliament will discuss the report that will open Europe visa-free for Turkish citizens. If the wrong decision is taken, we will unleash the refugees!" in what was an unmistakable threat.
- Clinton loss in West Virginia signals trouble in Rust Belt (Reuters)
- GOP hopefuls struggle with support of Trump (Hill)
- Brazil Impeachment Vote May Spell Rousseff's Last Day on Job (BBG)
- Staples-Office Depot Merger Collapses After Block by Judge (BBG)
- Tumbling Banco Popolare leads Italian bank shares lower (Reuters)
“What’s happened in Afghanistan over the last 13 years has been the flourishing of a narco-state that is really without any parallel in history,”
One would have to be blinded from either denial or ignorance not see the escalating political and military tension between the U.S. and Russia/China. While the U.S. media spins the story into a tall-tale in which BRIC nation leaders are the provocateurs, the truth is that the U.S. has transformed its illegitimate “war on terror” into war on the world in a last-gasp attempt hold onto the economic and geopolitical hegemony it has enjoyed for several decades.
The establishment (and its mainstream media mouthpieces) proclaim that "confidence" is being threatened because Donald Trump has told the truth that the Federal debt is on a track toward unmanageability and default. Yes, Uncle Sam’s credit standing is in deep trouble and the Fed is heading for a monetary calamity. But these untoward prospects have nothing to do with a couple of alleged wild pitches from Donald Trump. Upon closer examination, it is evident that the Donald was actually right on the money.
In Latest Shocking Twist, Brazil Impeachment Back On Track After Lawmaker Revokes His Own Annulment CallSubmitted by Tyler Durden on 05/10/2016 08:38 -0400
Another day, another stunning reversal in Brazil's neverending Rousseff impeachment saga. Just hours after Brazilian stocks and currency tumbled when the head of Brazil's lower house Waldir Maranhao said he would annul the soon to be former president's impeachment process, the drive to oust President Dilma Rousseff is once again back on track after Maranhao reversed a decision that had earlier threatened to throw the entire impeachment process into chaos.
Brazilian Stocks, Currency Tumble After Brazil House Chief Calls For Annulment, New Rousseff Impeachment VoteSubmitted by Tyler Durden on 05/09/2016 11:08 -0400
The story of Rousseff's impeachment took another unexpected, and sharp U-turn when moments ago, Bloomberg reported that the interim chief of Brazil’s lower house, Waldir Maranhao, accepted a request from the government's attorney general to annul the procedure that approved the impeachment motion in the house, according to reports from Folha de S.Paulo newspaper and Epoca magazine.
Perhaps the one last chance at saving the United States is embracing the truth – the truth as it is, and not the “truth” the U.S. Government would have you believe.
The EU should thank its lucky stars that Erdogan will not uphold his end of the deal and gratefully cancel it. Coupled with the cancellation (for which the EU can blame Erdogan), the EU should announce an Australia-type plan forcing back all boats, while arresting and prosecuting smugglers. Call out the military to enforce the borders. That’s what Australia did. Making a deal with the devil then letting the devil renege on a critical piece of his end is not a viable option. Accepting Erdogan’s new demands would do four things, all unsavory...
Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
Grab your popcorn. Having proclaimed his greatest achievement during his presidency as "saving the world from another Great Depression," we wonder what President Obama will have to say today when he discusses the economy. Following the decline in corporate profits, a manufacturing sector in recession, an auto industry which is shuttering production, minimum wage state job losses rising, and an equity market that is unable to make new highs, what cynical, skeptical, "fiction-peddlers" will he blame today's dismal jobs data on?
The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”