A Short History: The Neocon "Clean Break" Grand Design & The "Regime Change" Disasters It Has FosteredSubmitted by Tyler Durden on 07/01/2015 22:30 -0400
To understand today’s crises in Iraq, Syria, Iran, and elsewhere, one must grasp their shared Lebanese connection. This assertion may seem odd. After all, what is the big deal about Lebanon? That little country hasn’t had top headlines since Israel deigned to bomb and invade it in 2006. Yet, to a large extent, the roots of the bloody tangle now enmeshing the Middle East lie in Lebanon: or to be more precise, in the Lebanon policy of Israel.
America’s grand strategy, its long-term blueprint for advancing national interests and countering major adversaries, is in total disarray. Top officials lurch from crisis to crisis, improvising strategies as they go, but rarely pursuing a consistent set of policies. Some blame this indecisiveness on a lack of resolve at the White House, but the real reason lies deeper. It lurks in a disagreement among foreign policy elites over whether Russia or China constitutes America’s principal great-power adversary.
I wanted to do a post that had nothing to do with Greece or charts, just for a change of pace.
Have you picked up on the new trope du jour? We are all encouraged to bask in our innocence as we lament the advent of a new Cold War. The thought has been in the wind for more than a year, of course, at least among some of us. But we witness a significant turn, and I hope this same some of us are paying attention. As of this week, leaders who know nothing about leading, thinkers who do not think and opinion-shaping poseurs such as Tom Friedman are confident enough in their case to sally forth with it: The Cold War returns, the Russians have restarted it and we must do the right thing - the right thing being to bring NATO troops and materiel up to Russia’s borders, pandering to the paranoia of the former Soviet satellites as if they alone have access to some truth not available to the rest of us.
The Supreme Court ruled yesterday (June 25) in favor of the Obama Administration's current implementation of the Affordable Care Act (ACA), denying claims from challengers that health insurance subsidies were improperly paid for enrollees in states that did not operate their own health insurance exchanges. Goldman explains what it means... (spoiler alert: more healthcare consumption - which translated means higher healthcare costs).
- Chinese Stock Plunge Leaves State Media Speechless (BBG)
- China’s Market Selloff Accelerates (WSJ)
- Any Deal on New Greek Bailout Funds Put Off Until Weekend (WSJ)
- ECB keeps ELA funding limit for Greece unchanged for third day in a row (Reuters)
- Impoverished Greek City Stands With Alexis Tsipras (WSJ)
- Why It Won’t Be a Default If Greece Misses IMF Payment Next Week (BBG)
- Valeant Makes Takeover Approach to Zoetis (WSJ) - or how Ackman assures himself another good T+3 quarter
- Obamacare ruling puts Supreme Court on hot seat in U.S. presidential race (Reuters)
MAD – Mutually Assured Destruction – is way over. It kept a somewhat uneasy peace during seven decades of Cold War. Cold War 2.0 is as hardcore as it gets. And with all those Breedhate Strangeloves on the loose, nuclear madness is now at five seconds to midnight.
"Racial and ethnic minorities now surpass non-Hispanic whites as the largest group of American children under 5 years old, the Census Bureau said Thursday. The demographic rise of minorities comes at a time when heightened racial tensions make headlines from St. Louis to Charleston, South Carolina, and as minorities lag in education, earnings and labor market outcomes."
"Most Liberal Supreme Court Since 1960s" Gives Obama Huge Victory With 6-3 Vote In Favor Of ObamacareSubmitted by Tyler Durden on 06/25/2015 12:20 -0400
The Supreme Court has ruled that people who bought healthcare coverage through federal exchanges as part of Obamacare can keep subsidies that effectively limit the amount low- and middle-income Americans pay for health insurance to 9.5% of their income or less.
- This headline needs updating: Creditors set bailout ultimatum for defiant Greeks (Reuters)
- Greece’s Fragile Banks Leave Alexis Tsipras Few Options in Bailout Talks (WSJ)
- Dueling Greece Plans Presented as Ministers Race for Aid Deal (BBG)
- Icahn Cashes In His Netflix Chips (WSJ)
- Meet the Health-Law Holdouts: Americans Who Prefer to Go Uninsured (WSJ)
- ECB holds Athens lifeline unchanged as Bundesbank protests (Reuters)
- Supreme Court Guide: Six Big Decisions Remain (WSJ)
- The Rise of the Compliance Guru—and Banker Ire (BBG)
Needless to say, not everyone is particularly enamored with US foreign policy under the Obama administration...
The Pentagon has released an 1,176-page book of instructions on the "The Law Of War" detailing acceptable ways of killing the enemy. The manual also states that journalists can be labeled "unprivileged belligerents," an obscure term that replaces the Bush era "unlawful enemy combatant." The Obama Administration’s definition of "enemy combatant" was vague enough, basically meaning any male of a military age who "happens to be there," and this shift appears to make the situation even more dangerous.
President Barack Obama in 2014 said Mr. Gruber was “some adviser who never worked on our staff.” And then there's this:
“Thank you for being an integral part of getting us to this historic moment,” according to Sept. 9, 2009 email to Mr. Gruber from Jeanne Lambrew, a top Obama administration health adviser who worked at HHS and the White House. In a November 2009 email, she called Mr. Gruber “our hero.”
In a remarkable document, which is not posted at the English version of the website of the Constitutional Court of Ukraine, but which is widely reported outside the United States, including Russia, Poroshenko, in Ukrainian (not in English), has petitioned the Constitutional Court of Ukraine (as it is being widely quoted in English): "I ask the court to acknowledge that the law ‘on the removal of the presidential title from Viktor Yanukovych' as unconstitutional.”