Iraq

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Oil Prices Drop To 7-Week Lows - Here's Why





WTI Crude hit new 7-week lows, dropping below $57 (front-month) for the first time since April 15th's 'inventory draw' rip. In addition to reports from Reuters of leaked details about OPEC not expectated to cut production (did anyone really expect that), a combination of renewed inventory builds (as reported by API last night) and reports that Iraq is increasing its supply to new record highs is forcing futures prices to catch down to physical markets.

 
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"New Silk Road" Part 2: Cold War Or Competition?





In Part 1 of “The New Silk Road,” we examined the China’s plan for rebuilding the Silk Road, stretching from Europe to Asia. In Part 2, we look at currently proposed projects, and geopolitical rivalries that could stall and hamper progress. Until very recently, it was widely assumed that the US would lead its western allies in a campaign against the Russian/Chinese deal to develop the Silk Road, but events have been reversing with remarkable speed.

 
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Welcome To The Funny-Money Generation





Genuine economic growth is something you can allow, but you cannot force. If you try to trick your way to it – with phony interest rates, more debt, and cockamamie inflation targets – you will retard the growth, not speed it up. This is obvious, too. But Ms. Yellen is paid not to see it. And in the absence of real growth, the Dow at 18,000 looks vulnerable. It wouldn’t be at all surprising to see a rolling top take shape... with a sharp break in the fall. But here we leave the vagaries of the market to pay homage to America’s Second Greatest Generation.

 
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Iraq Trolls US, Calls Latest Military Operation "We Are At Your Services, Hussein"





While some have argued that President Obama and his folly-prone foreign policy debacle is the laughing stock of the world, it seems, as DefenseNews reports, that the Iraqi military is directly mocking America. Just a day after defense secretary Ash Carter accused them of cowardice, an umbrella group for mostly Shiite militia and volunteer fighters, Hashed al-Shaabi, said it had dubbed a military campaign to cut off the Islamic State group in Anbar province as "Operation Labaik ya Hussein," which roughly translates as "We are at your service, Hussein."

 
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This Is How Much Of Your Life The US Has Spent At War





Spoiler alert: if you are 14 or younger, you have never known an America that isn't without war.

 
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How The Saudis Wag The Washington Dog





In real democracies, governments would do what the citizens who put them in office want them to do. The United States and other Western democracies make a mockery of that ideal. But, even so, there are limits; governments cannot defy public opinion on matters of great moment indefinitely. Enabling the Saudi ruling class, and the rulers of the other Gulf states, to direct American foreign policy to the extent that they do, and to get away with whatever they please, is hardly the least of it; but neither is it the only cause for concern.

 
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US Accuses Iraq Army Of Cowardice, Says "More Firepower Support" Needed Against ISIS





“The Iraqi forces just showed no will to fight. They were not outnumbered. In fact they vastly outnumbered the opposing force and yet they failed to fight and withdrew from the site...We can give them training, we can give them equipment. We obviously can’t give them the will to fight.”

 
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Kunstler: There Are Only 2 Choices For The Masses - "Doomer" Or "Wisher"





"These are the only choices for the masses: whether to be a “doomer” or a “wisher.” Both positions are cartoon world-views that don’t provide much guidance for continuing the project of civilization, in case anyone is actually interested in that. It’s either rampaging id or the illusion of supernatural control, take your pick. I find both stances revolting."

 
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Arab Spring 2.0: Wahhabis Go Nuclear





This won't end well... As far as the Empire of Chaos goes, Divide and Rule remains the sweetest game in town.

 
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Secret Pentagon Report Reveals US "Created" ISIS As A "Tool" To Overthrow Syria's President Assad





The revelation from an internal US intelligence document that the very US-led coalition supposedly fighting ‘Islamic State’ today, knowingly created ISIS in the first place, raises troubling questions about recent government efforts to justify the expansion of state anti-terror powers.

 
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ISIS: Mapping A Militant Expansion





As the US moves closer to putting boots on the ground in Iraq and Syria to counter an ISIS "offensive", The New York Times is out with a series of graphics which document the group’s spread.

 
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It Begins: US May Send "Target Spotters" To Iraq To Counter ISIS "Offensive"





The US is now considering the possibility of sending so-called "spotters" to Iraq, a move ostensibly aimed at making airstrikes against ISIS more effective. Meanwhile, the militant group has claimed responsibility for Friday's suicide bombing in Saudi Arabi that killed 21.

 
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This Is How You "Boost" GDP: US Sells Over $4 Billion In Weapons To Israel, Iran And Saudi Arabia





When in doubt how to boost GDP, always revert to that old Keynesian favorite. War.

 
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Suicide Bomber Detonates In Saudi Mosque, ISIS Suspected





A suicide bomber blew himself up at a Shi'ite mosque in eastern Saudi Arabia during Friday prayers, residents said, killing and wounding several people.

 
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