Meet The Press
While BofAML's Michael Hanson expects Yellen’s overall tone to remain dovish, market perception will be key. The combination of changes to the forward guidance language, upward drift of the dots, and any comments seen as potentially hawkish, could lead to a selloff...
President Obama has swung from "we have no strategy" to "keep in mind this is something we know how to do," in a week, and speaking on Meet The Press this morning he teased the world's allies (and terrorists) with the promise that he will address the nation Wednesday to lay out U.S. plans for combating the Islamic State of Iraq and Syria (ISIS), promising the U.S. can and will defeat the group. As CBS reports, while not quite as gung-ho as Biden's "gates of hell" speech, President Obama appears to have stepped up his rhetoric from 'contain' to 'defeat' as he stated "we will hunt down [ISIS] members and assets wherever they are," but carefully added putting U.S. troops on the ground would be a "profound mistake."
It was a good weekend for the friends and family of Army Sergeant Bowe Bergdahl: after five years of being held captive by the Taliban in Afghanistan, on Saturday morning it was reported that the 28-year-old native of Hailey, Idaho was finally freed. In exchange for his freedom, the US agreed to also set free five Taliban militants held at Guantanamo. In other words, this was a pre-negotiated settlement or, stated otherwise, a negotiation. Adding fuel to the fire is the realization that Obama was transacting largely alone: instead of abiding by a legal requirement to give Congress advance notice when prisoners are released from the detainee facility at Guantanamo Bay, Obama once again took unilateral action. Actually it wasn't completely unilateral: it was revealed that the deal was bartered by America's new middle east BFFs (courtesy of the false flagged Syria conflict): officials from Qatar who agreed to keep the detainees in their country for a year.
And then the media circus took over.
Ukraine Official Warns "Chance Of War With Russia Growing" As Mike Rogers Calls For Sending Weapons To UkraineSubmitted by Tyler Durden on 03/23/2014 12:44 -0400
Concurrently with out post on what the odds are of a war between the US and Russia over Ukraine, the House Intelligence Committee Chairman Mike Rogers, and war hawk, appeared on TV this morning saying that the United States ought to provide weapons to the Ukrainian army "so it could defend the country from a Russian invasion." This is the same Mike Rogers who last August did everything in his power to perpetuate the lie that Syrians had used chemical weapons against "rebels" (who subsequently turned out to be mostly Qatari-funded Al Qaeda mercenaries and other Islamic extremists) “There are things that we can do that I think we’re not doing. I don’t think the rhetoric (from Obama administration officials) matches the reality on the ground,” he said. And while US neocons are warmongering, Ukraine is all too happy to raise the tension level just a bit more, hoping that NATO will finally intervene and present Putin with at least some hurdle to overrunning all of East Ukraine, using exactly the same template as already show in Crimea: Ukraine’s top diplomat warned Sunday that the chances of war with Russia “are growing” due to the buildup of Moscow’s forces along his country’s eastern border. In an interview with ABC’s “This Week,” acting Ukrainian Foreign Minister Andrii Deshchytsia said Kiev “is ready to respond” should Russia–which has already seized the Crimea–move further in Ukrainian territory.
Russia-Ukraine Agree "Truce" Until March 21st; White House Warns Putin Stop Playing "Russian Roulette"Submitted by Tyler Durden on 03/16/2014 12:05 -0400
"President Putin has started a game of Russian roulette and I think the United States and the West have to be very clear in their response," states Sen. Foreign Relations Committed Chair Robert Menendez among a slew of Sunday morning talk-show rhetoric from US politicians with the White House's Dan Pfeiffer adding "President Putin has a choice about what he's going to do here. Is he going to continue to further isolate himself, further hurt his economy, further diminish Russian influence in the world, or is he going to do the right thing?" As the "sham referendum" continues, Reuters, however, reports that Ukraine's acting defense minister believes Russia and Ukraine have agree a truce until March 21st.
“The risk of catastrophe will be very high. The nation could erupt into insurrection or civil violence, crack up geographically, or succumb to authoritarian rule. If there is a war, it is likely to be one of maximum risk and effort – in other words, a total war. Every Fourth Turning has registered an upward ratchet in the technology of destruction, and in mankind’s willingness to use it.”
The core elements of this Fourth Turning continue to propel this Crisis: debt, civic decay, global disorder. Central bankers, politicians, and government bureaucrats have been able to fashion the illusion of recovery and return to normalcy, but their “solutions” are nothing more than smoke and mirrors exacerbating the next bloodier violent stage of this Fourth Turning. The emergencies will become increasingly dire, triggering unforeseen reactions and unintended consequences. The civic fabric of our society will be torn asunder.
The froth is back. As we noted yesterday, corporate leverage has never been higher - higher now than when the Fed warned of froth, and as the BIS (following their "party's over" rant 3 months ago) former chief economist now warns, "this looks like to me like 2007 all over again, but even worse." The share of "leveraged loans" or extreme forms of credit risk, used by the poorest corporate borrowers, has soared to an all-time high of 45% - 10 percentage points higher than at the peak of the crisis in 2007. As The Telegraph reports, ex-BIS Chief Economist William White exclaims, "All the previous imbalances are still there. Total public and private debt levels are 30pc higher as a share of GDP in the advanced economies than they were then, and we have added a whole new problem with bubbles in emerging markets that are ending in a boom-bust cycle." Crucially, the BIS warns, nobody knows how far global borrowing costs will rise as the Fed tightens or “how disorderly the process might be... the challenge is to be prepared." This means, in their view, "avoiding the tempatation to believe the market will remain liquid under stress - the illusion of liquidity."
Why on earth does the UN Security Council still exist when the rules and regulations that the people who have the right to veto set up in the first place are dumped just as quick as you can say Bachar al-Assad?
Despite consumer confidence at a six-year high, the latest AP survey of the real America shows a stunning four out of five U.S. adults struggle with joblessness, are near poverty, or rely on welfare for at least parts of their lives amid signs of deteriorating economic security and an elusive American dream. Hardship is particularly on the rise among whites, based on several measures. Pessimism among whites about their families' economic futures has climbed to the highest point since at least 1987.
Journalists should be protected, but not because of who they are or the title next to their name, but because they are engaged in acts of journalism. At the end of the day journalism is much like porn, hard to define but “you know it when you see it.” Whether you want to call Glenn Greenwald a journalist or not, what he did in the Edward Snowden affair was clearly an “act of journalism” and therefore must be protected and defended at all costs. Mike Krieger, of Liberty Blitzkrieg, is extraordinarily bothered by the manner in which the oligarch gatekeepers in the mainstream media and elsewhere are attempting to discredit Glenn Greenwald by saying he is “not a journalist.” It appears their primary strategy in fighting back against truth-tellers, whistleblowers and journalists in the wake of Edward Snowden’s revelations is by attempting to control the definition of the term “journalist.” This way they can then proclaim who is a “real journalist” and who isn’t.
Just to confirm that in a world in which China and Russia (and Caracas... and Cuba) are increasingly seen as the paragons of liberty, virtue, and civil rights and the US is slowly but surely sinking into the role of the turnkey totalitarian tyranny antagonist, we just go this from House Intelligence Committee Chairman Mike Rogers: "Edward Snowden's reported choice to fly to Cuba and Venezuela undermines his whistleblower claims... Everyone of those nations is hostile to the United States, the Michigan Republican said on NBC's "Meet the Press" news talk show. "When you think about what he says he wants and what his actions are, it defies logic," said Rogers. Actually, Mike, when "you think about what he says", his actions make all the sense in the world, and certainly validate his "whistleblower claims."
Why There Is So Much Pro-War Reporting
Cheney Caught In Another Major Lie
When the Republican party agreed last week to a push back on the debt ceiling discussion by three months to May 19, virtually without a fight in a move that may presage what is set to become a quarterly can kicking exercise on the US credit card max, some were curious what the quo to this particular quid may be. Earlier today on Meet the press Paul Ryan explained: the pound of spending flesh demanded by the GOP in exchange for caving on yet another key GOP hurdle is, as our readers have known for over two weeks, the Sequester, which is set to hit on March 1 and possibly the stop-gap government funding on March 27, after which various government agencies will start shutting down. Both programs are set to kick in automatically as incremental spending cuts, chopping away even more basis points from the 2013 US GDP, unless the GOP votes affirmatively to extend them in what would then be seen as a move that destroys any last trace of leverage and credibility that GOP may have had.
If earlier media speculation that the cliff debate was seeing some progress would have sent stocks higher (assuming it was not a Sunday), the speaker's just released response to Obama's Meet The Press appearance would have deflated all hope of any progress. Remember: all is fair in political circus and Beltway theater.