In a few moments, Missouri Gov. Jay Nixon will speak at 4:00 p.m. ET. about the turmoil in Ferguson. As NBC reports, Nixon canceled a planned visit to the state fair and said he would visit the St. Louis suburbs Thursday after a fourth night of civil unrest over the police killing of Michael Brown, an unarmed black teenager. Nixon said in an earlier statement that the worsening situation in Ferguson was “deeply troubling.”
The Iraq War Officially Begins (Again): US Troops Prepare For Rollout As US Drones Strike ISIS PositionsSubmitted by Tyler Durden on 08/13/2014 22:11 -0400
UPDATE: U.S. SAID TO LAND TROOPS ON MT. SINJAR IN IRAQ, ABC NEWS SAYS
U.S. military officials say an armed American MQ-1 Predator drone has attacked and destroyed a mortar position of Islamic militants in northern Iraq. As WaPo reports, the drone attack marks a departure for the U.S. military, which had said previously that drones were flying missions over Iraq only to collect intelligence. No boots hit the ground in the carrying out of this action...
... Who America and Her Close Allies SUPPORT (the Terrorists, That Is) ...
Update: US has launched another round of airstrikes
As the following clip shows, the explosions from two F-18s dropping 500lb bombs were large and Iraq officials stated that 45 ISIS fighters were killed (and 60 injured). While The Islamic State's response was to demand blood for US intervention, it appears they went domestic first. As AP reports, Iraqi officials say hundreds of Yazidi women (under 35) have been taken captive by Islamic State militants (and held in schools in Mosul).
There were some minor fireworks in the overnight session following the worst Australian unemployment data in 12 years reported previously (and which sent the AUD crashing), most notably news that the Japanese Pension Fund would throw more pensioner money away by boosting the allocation to domestic stocks from 12% to 20%, while reducing holdings of JGBs from 60% to 40%. This in turn sent the USDJPY soaring (ironically, following yesterday's mini flash crash) if only briefly before it retraced much of the gains, even as the Pension asset reallocation news now appears to be entirely priced in. It may be all downhill from here for Japanese stocks. It was certainly downhill for Europe where after ugly German factory orders yesterday, it was the turn of Europe's growth dynamo to report just as ugly Industrial Production which missed expectations of a 1.2% print rising only 0.3%. Nonetheless, asset classes have not seen major moves yet, as today's main event is the ECB announcement due out in less than an hour. Consensus expects Draghi to do nothing, however with fresh cyclical lows in European inflation prints, and an economy which is clearly rolling over from Germany to the periphery, the ex-Goldmanite just may surprise watchers.
A two-star US General has been killed in Afghanistan, according to ABC News, which appears to be the highest-ranked US officer KIA since The Vietnam War. The attack took place in the relative safety of the officers academy at Camp Qargha, Kabul, when a gunman wearing an Afghan army uniform apparently turned his weapon against Americans and other Afghans. In addition to the US general's death, a German brigadier general was injured along with 15 other ISAF personnel. Afghan President Karzai said the attack was "an act by the enemies who don’t want to see Afghanistan have strong institutions."
If the worst Ebola outbreak in recorded history reaches the United States, federal law permits "the apprehension and examination of any individual reasonably believed to be infected with a communicable disease". These individuals can be "detained for such time and in such manner as may be reasonably necessary". In other words, the federal government already has the authority to round people up against their will, take them to detention facilities and hold them there for as long as they feel it is "reasonably necessary". Think that is a little extreme, think again. As NBC reports, Emory University Hospital, Atlanta will be treating a patient with Ebola in the next several days.
In the aftermath of the news from the past week that at least two US citizens have been infected with the Ebola virus, a very unpleasant if nagging question has appeared: can the virus spread to the US? According to NBC, "the Ebola virus, which has infected two U.S. humanitarian workers in Liberia, is only a short plane ride from any city on Earth. But federal health officials say it’s not a big worry for most Americans." Are they wrong?
UPDATE: Caught on tape... A second fuel tank in the Libyan capital Tripoli has caught fire, which Libya's National Oil Company has described as "out of control".
A dark cloud hangs over Tripoli today... but this time it's physical not metaphorical. As NBC reports, a rocket hit a fuel storage tank containing 1.5 million gallons of gasoline, triggering a major blaze as rival brigades of former rebels fought for control of Tripoli's main airport. A huge cloud of black smoke billowed across the capital's skyline as the blaze burned "out of control," and firefighters had withdrawn from the area.
The middle east is burning again: first it was the fascinating ascent of the brutal Al-Qaeda spinoff ISIS, creating its own Caliphate in northern Iraq and in the process taking over a third of Syrian territory as well as all of its oil infrastructure. Then, the latest iteration of the Israel vs Gaza conflict has now claimed over 1000 lives and is dragging virtually all neighboring countries into it as well. And the cherry on top is that the Libyan "liberation" by the US has just gone full circle, as the country is is now witnessing one of its worst spasms of violence since Gadhafi’s ouster. End result: nearly two years after the deadly attack on the US embassy in Benghazi, moments ago the US once again shuttered its embassy in Libya, this time in Tripoli, evacuating more than 150 Americans to Tunisia. This is happening just 24 hours after the US Secretary of State was literally next door in Egypt, assuring the region that peace and stability are just around the corner.
After Delta Reroutes Flight Into Israel, 5 Other Airlines Suspend Flights To Tel Aviv On Missile WorriesSubmitted by Tyler Durden on 07/22/2014 12:26 -0400
Update: U.S. FLIGHTS TO ISRAEL HALTED BY FAA
About two hours ago, and in the aftermath of the public outcry regarding flights in conflict zones, first Delta then most other major international carriers announced they would suspend flights to Israel "until further notice" amid concerns that a rocket landed near Ben Gurion International Airport in Tel Aviv. The list of confirmed airlines that have halted such flights is shown below.
In Potentially "Lethal Blow" For Obamacare, US Appeals Court Finds Insurance Subsidies Invalid In Most StatesSubmitted by Tyler Durden on 07/22/2014 10:50 -0400
Moments ago, in what NBC classified as a "potentially lethal blow to Obamacare" a federal appeals court has ruled that the federal government may not subsidize health insurance plans bought by people in states that decided not to set up their own marketplaces under Obamacare. The law clearly says that states are to set up the exchanges. But 34 states opted not to, and the federal government took over in those states. The court ruled that federal government may not pay subsidies for insurance plans in those states. As the Hill reports further, the D.C. Circuit Court of Appeals said the Affordable Care Act does not permit the IRS to distribute premium subsidies in the federal ObamaCare exchange, meaning those consumers must bear the full cost of their insurance.
Would you like to have a digital identity card that is automatically issued to you at birth? In one European nation, residents use such a card when they go to the hospital, when they do their banking, when they go shopping and even when they vote. This card has become so popular that this particular European country actually plans to start issuing them to millions of non-citizens all over the planet who request them. Never heard about this? Neither had I before this week. The Economist is calling for the entire planet to adopt this “national identification system” that the little nation of Estonia has adopted. The Economist is touting all of the “benefits” of a “national identification card”, but are there dangers as well? Could adopting such a system potentially open the door for greater government tyranny than we have ever known before?
Recovery Of Malaysian Airlines Black Box Caught On Tape: Separatists To Hand Over To International DelegationSubmitted by Tyler Durden on 07/20/2014 10:20 -0400
With the rabbit hole of conspiracies getting deeper by the hour, video has emerged showing what appears to be the "black box" flight data recorder from Malaysia Airlines Flight MH17 being taken from the crash scene. As NBC reports, the men in the video are wearing Ukrainian Emergency Ministry uniforms, but a senior Ukrainian official told a news conference Sunday that rebels had taken the black boxes. This fits with reports from The Hill that pro-Russian separatists have located the black boxes for the downed Malaysia Airlines passenger jet and will hand them over to international authorities, according to separatist leader Alexander Borodai. With the US having offered more "proof" that Russia was involved, perhaps some facts from the Black Box will help clarify details in this dreadful situation... though we are not confident.