Having attacked its "closest ally" UK for "constant accomodation" with China, we suspect President Obama will be greatly displeased at yet another close-ally's decision to partner up with the Chinese-led Asian Infrastructure Investment Bank (AIIB). As The Australian reports, "make no mistake," the decision by Australia's Abbott government to sign on for negotiations to join China’s regional bank, foreshadowed by Tony Abbott at the weekend, "represents a colossal defeat for the Obama administration’s incompetent, distracted, ham-fisted diplomacy in Asia." It seems de-dollarization continues...
The Lies End Now: "Most Transparent Administration Ever" Is No More: White House To Delete Its FOIA RegulationsSubmitted by Tyler Durden on 03/16/2015 20:59 -0400
"We have put in place the toughest ethics and transparency laws of any administration in history." - Barack Obama.
The lies end now. As reported moments ago, the White House is voiding a federal regulation that subjects its Office of Administration to the Freedom of Information Act, or FOIA (incidentally the same act that discovered none of Hillary Clinton's "personal" government-business emails since they were not even stored on government property!) which as USA Today explains, makes "official a policy under Presidents Bush and Obama to reject requests for records to that office."
"Ladies and gentlemen. A few weeks ago, in Riyadh, I was at a small, private function along with the British central bank governor, Mark Carney. Mr Carney asked me two questions. First, why did the oil price drop? And the second, where is the price heading? I will tell you today what I said to him then."
- Ibrahim Al-Muhanna, Advisor to the Minister of Petroleum and Mineral Resources for Saudi Arabia
The UK has announced it’s joining the Asian Infrastructure Investment Bank, China’s answer to the Asian Development Bank over which Beijing feels the US has undue influence. US wonders aloud if "constant accommodation" is the best way to engage a "rising power".
GM did $20.4 billion worth of buybacks from 1986 through 2002. If it had saved that money and earned a modest 2.5% on it, the company would have had $35 billion on hand when the financial crisis and Great Recession hit and probably would not have had to file for bankruptcy protection. As Bob Lutz, the veteran auto executive, said recently, stock buybacks are “always a harbinger of the next downturn…in almost all cases, you regret it later”... Taxpayers and workers brought GM out of bankruptcy, yet it is the hedge funds that will reap the biggest rewards. Taxpayers and workers should demand that open-market repurchases by all companies be banned. Stock buybacks manipulate the stock market and leave most Americans worse off. In this case, it is clear that what is good for the hedge funds is bad for the United States.
Russians view the United States much more unfavorably today than they did during the end of the Cold War era. As you will read about below, an astounding 81 percent of all Russians now view the United States negatively, and only 13 percent have a positive opinion of this country. In all of the years when Russians have been surveyed on their attitudes toward the U.S., they have never been this negative. But of course Americans generally do not view the Russian people unfavorably. Even while most Americans are extremely apathetic about what is going on over in Russia, an increasingly large chunk of the Russian population is angry enough to go to war.
It’s a remarkable irony, notes Sharyl Attkinson, that the same U.S. president whose administration has gone to great lengths to monitor journalists, whistleblowers and the public, claims to be oddly in the dark regarding basic information on some of his biggest controversies. Here are eight instances in which President Obama said he heard it on the news - or way after-the-fact - just like ordinary Americans.
How can the government be telling us that we are nearly at “full employment” when so many people can’t find work? Could it be possible that the government numbers are misleading? It is our contention that the official “unemployment rate” has become so politicized and so manipulated that it is essentially meaningless at this point.
There’s simply a very strong feeling, if not conviction, in the western media, that they’ve won the propaganda battle. But two portraits of US girl power in Ukraine from the Guardian and Bloomberg that appeared over the past two days are just unbelievbable. Victoria Nuland and Natalie Jaresko should not be praised by the western media, they should be taken apart bone by bone, because the roles they play are far too shady to stand up to our alleged democratic principles.
- 5 Things to Watch in February’s Jobs Report (WSJ)
- Draghi Declares Victory for Bond-Buying Before It Starts (BBG)
- Apple Pay Sign-Ups Get Tougher as Banks Respond to Fraud (WSJ)
- As World’s Hottest Economy Unravels, Nigerians Feel the Squeeze (BBG)
- EU discontent over French budget deal's 'political bazaar' (Reuters)
- Foreign Takeovers See U.S. Losing Tax Revenue (WSJ)
- Goldman Shareholders’ Hope for Bigger Payout Dashed by Fed (BBG)
- Europe Stocks Headed for 31% Surge This Year Amid QE, Citi Says (BBG)
- Dollar revs up for jobs data, euro bonds rally on ECB (Reuters)
"There’s Going To Be Chaos" - What Is The Worst-Case Outcome Of Today's Supreme Court Obamacare HearingSubmitted by Tyler Durden on 03/04/2015 21:18 -0400
Today, for the second time since 2012, the fate of Obamacare lies in the hands of the Supreme Court, and like last time, it will likely be all about Justice John Roberts ' decision. Later today, the US Supreme Court will hear oral arguments in the case of King v. Burwell, the latest challenge to Obamacare, and one that could potentially leave it gutted from an unexpected direction. As a result, nearly eight million Americans could lose their health insurance depending on how the Supreme Court interprets four words in the "Affordable" Care Act.
In the aftermath of the revelations that Hillary Clinton had exclusively used a personal email account to conduct state correspondence with diplomatic leaders around the globe and pretty much everyone else, it was only a matter of time before the subpoenas started flying. That time is now and as WaPo reports, the "House investigative committee is preparing to send out subpoenas later Wednesday to gather a deeper look into former secretary of state Hillary Rodham Clinton’s nearly exclusive use of personal e-mails to do her official business as the government’s top diplomat, according to people familiar with the probe."
Bill Clinton Dusted Off the Same Marketing Strategy Which Bad-Mustache Used On the Eve of Invading Poland ... And Obama's Been Using It Ever Since
Under normal circumstances, after 2008's conflagration of the calamitous collateralizations, we shouldn’t have seen such irrational, reckless, greedy behavior from Wall Street for another generation. But, Wall Street didn’t have to accept the consequences of their actions. They were bailed out and further enriched by their puppets at the Federal Reserve, the lackey politicians they installed in Washington D.C., and on the backs of honest, hard-working, tax paying Americans. The lesson they learned was they could continue to take excessive, reckless, unregulated risks without concern for losses, downside, or consequences.