"The EU and US need to hear the pleas coming from the southern European countries, as well as those of the refugees. The humanitarian catastrophe has reached large scale, with profound and irreversible consequences. Greece is paying a disproportionately high price, although Greece played no role in triggering this catastrophe. The EU and the US have the moral obligation, which is also consistent with their long-term interests, to take the necessary steps to put an end to the suffering of those in war zones, while at the same time preventing Greece’s collapse under the mounting pressure of refugees."
UK debt has continued to rise throughout the recovery and has soared to an eye-watering £1.48 trillion. In recent days, a slew of foreign exchange analysts have warned that the pound is vulnerable to falling in value. The incumbent government have not reined in public and trade deficits and have been accused of juicing the property market and the economy to postpone a crisis until after the election.
When we deny reality and engage in irrational wishful thinking, we are engaging in something called 'hopium': "The irrational belief that, despite all evidence to the contrary, things will turn out for the best." Right now that propaganda matrix is assuring the American people that everything is going to be just fine. Well, they better be right. Because if not, they are going to have millions of people extremely angry with them when things really start falling to pieces.
The Saudi bombing of Yemen is another flash point and will deepen tensions between the U.S., NATO allies and Russia and indeed China. Geopolitical risk remains high and the region remains a powder keg that is likely to explode as has already been seen in Syria and much of North Africa.
Saudi Arabia is not trying to crush U.S. shale plays. Its oil-price war is with the investment banks and the stupid money they directed to fund the plays. It is also with the zero-interest rate economic conditions that made this possible. Saudi Arabia intends to keep oil prices low for as long as possible.
Over the better part of the past month, the only entities actively involved in the proxy war in Yemen against the local Houthi rebel force have been air force units, mostly under Saudi command as part of Operation "Decisive Storm." Which probably explains why there has been little if any progress to note in pushing back said rebellion which, armed heavily thanks to the US government, has successfully managed to push the current president into an indefinite exile. That changed hours ago, when Saudi Arabia's King Salman ordered the Saudi Arabian National Guard, widely regarded as the kingdom's best equipped military ground force, to take part in Riyadh's campaign against Iran-allied Houthi rebels in Yemen.
Noam Chomsky: "The Idea Of A Media Which Does Not Repeat US Propaganda Is Intolerable To American Leaders"Submitted by Tyler Durden on 04/20/2015 21:32 -0400
"Take the New York Times -- the greatest newspaper in the world. Take one example, at the first article that appeared today, that the tentative [nuclear] agreement with Iran was reached. It’s a thinkpiece, by Peter Baker, one of their main analysts. He discusses in it the main reasons to distrust Iran, the crimes of Iran. It’s very interesting to look at. The most interesting one is the charge that Iran is destabilizing the Middle East because it’s supporting militias which have killed American soldiers in Iraq. That’s kind of as if, in 1943, the Nazi press had criticized England because it was destabilizing Europe for supporting partisans who were killing German soldiers."
More Hillary Cronyism Revealed: Cisco Used Clinton Foundation To Cover-up Human Rights Abuse In ChinaSubmitted by Tyler Durden on 04/18/2015 21:45 -0400
“Crony capitalism has defined Clinton’s career, from her tenure on the board of Walmart, to the Wall Street execs whom she surrounded herself with at the State Department, to her allegiance to Cisco, even as it violated principles on which she staked her tenure,”
Is mainstream media really going to ignore that Marco Rubio’s campaign is named after the late 1990?s think tank called a ‘Project for a New American Century’ (PNAC), founded by Head Neocon – Bill Kristol? And this is no coincidence. Guess who’s doing the Sunday talk show circuit campaigning for a Rubio presidency?
We've long argued that the implications of the shift away from a global economic order that has prevailed since the end of WWII are far reaching and may include the demise of what has largely been a unilateral political and economic system characterized by the dominance of US foreign policy and Western notions of politics and capitalism. Now, it appears as though de-dollarization and the end of US hegemony may have gone viral because, as The NY Times reports, a US “retreat” from the world order it has largely shaped was the unspoken topic de jour at this year’s spring meeting of the IMF and World Bank in Washington.
Everyone this week focused on the slight production declines that this was a sign to go long oil, but what seemed to go under the radar was another build in both Cushing and the Gulf Coast storage hubs.
In order to maintain a grip on market share by pushing U.S. shale producers out of the market, Saudi Arabia (and OPEC) is willing to use up its spare capacity. That could lead to a price spike.
Oil prices should become 'lower for longer", but the wild card would be the OPEC meeting this June...
Back in November we chronicled the (quiet) death of the Petrodollar, the system that has buttressed USD hegemony for decades by ensuring that oil producers recycled their dollar proceeds into still more USD assets creating a very convenient (if your printing press mints dollars) self-fulfilling prophecy that has effectively underwritten the dollar’s reserve status in the post WWII era. Now, with oil prices still in the doldrums, oil producers are selling off their USD assets in a frenzy threatening the viability of petrocurrency mercantilism and effectively extracting billions in liquidity from the system just as the Fed prepares to hike rates.
You could ask 1000 people what characteristics they want in a president and 990 will describe Ron Paul. However, ask 1000 people what they think of Ron Paul and 990 will say he’s crazy. Why?? Because that’s what we’ve been told to think. So we think it. It is that simple. And that is why this country has been deteriorating for 100 years and really accelerating, faster each year for the past 15, toward utter collapse. But not to fear, the free fall is about to end… and with a thump.