Obama Explains Why He "Rejected" Keystone XL Pipeline Days After Transcanada Withdraws Application - Live FeedSubmitted by Tyler Durden on 11/06/2015 11:04 -0500
After seven long years, and following the State Department's denial of TransCanada’s request to suspend its permit application, the Obama Administration, according to The Wall Street Journal, is set to reject the Keystone XL Pipeline (the controversial project to link oil sands in Alberta to U.S. Gulf of Mexico refineries). Speaking from The White House shortly, President Obama is expected to cite the urgency of climate change as a key reason behind his decision (though is unlikely to name the biggest winner from this decision..).
Our booming green-industrial complex built up by administrations of both parties in the US is effectively using the United Nations, its thirty two “sister” institutions — such as the World Bank, UNESCO, and numerous “tribunals” — and hundreds of training and research centers. This huge international bureaucratic buildup is already employing over a million “international civil servants” to administer what our socialist visionaries hope will become the world government of the future.
It is now open season on "climate change deniers" everywhere.
In the next phase of the Obama administration's other war on drugs, The Centers for Medicare & Medicaid Services (CMS) has issued a letter to the CEOs of four large drug providers (AbbVie, Gilead, Johnson & Johnson, and Merck), warning that "manufacturers have a role to play in ensuring access and affordability to these medications," asking for "value-based purchasing arrangements." While there is no "or else" in the letter, the focus on 'significance to many', 'costs', and 'accessible' suggest an overhang of government intervention as new specialty drugs account for nearly a third of overall costs, but represent less than 1% of prescriptions.
Iranian Spies Trained By Russia Hack State Department Officials After Arresting Dubai Executive, US ImaginesSubmitted by Tyler Durden on 11/05/2015 14:56 -0500
"He had become increasingly concerned with gas matters"...
There were a few different stories coming out over the last few days that reveal the true nature of government and the apparatchiks who use disinformation, devious machinations, fraudulent accounting, and taxpayer money to cover up their criminality, lies, and the true state of the American economy. The use of government accounting tricks to obscure the truth about our dire financial straits is designed to keep the masses sedated and confused.
- BOE Stays Cautious on Rate-Hike Timing as Inflation Outlook Cut (BBG)
- China Enters Bull Market (WSJ)
- Britain says Islamic State likely brought down Russian plane (Reuters)
- Dollar jumps as markets fix on December rate expectations (Reuters)
- Activist Investor Bill Ackman Plays Defense (WSJ)
- BOJ Survey Data Reveals Signs of Growing Inequality in Japan (BBG)
- UAW Warns of General Motors Strike If Workers Fail to Approve Contract (WSJ)
Ahead of US spec ops deployment in Syria, the US is sending F-15C Eagle twin-engine fighters to Turkey, suggesting The Pentagon is preparing for aerial combat with the Russian air force.
One of the primary “talking points” used by the Department of Justice to defend its practice of systematically deeming corporate criminals above the law via its used of deferred prosecution agreements, has been an emphasis on how much money it has earned in fines from criminal corporations. These fines were supposed to be distributed to help victimized American citizens. Not any more.
In the latest example of Washington playing catch up in the global "war" on terror PR battle, “officials familiar with the matter” have told WSJ about a concerted effort to cut off the flow of dollars to ISIS. Allegedly, the US became concerned about the amount of hard currency being shipped to Iraq over the summer. The problem: the requested amounts didn’t seem to be consistent with the country’s economic fundamentals and so, the US cut off Iraq’s access to dollar funding, nearly plunging the country into crisis.
In an ironic twist, just hours after we discussed the record capital outflow from Canada, resulting from the plunge in oil prices and the mothballing of Canada's energy industry, Obama's long-desired goal of killing the Keystone XL pipline has finally come true.
"So again, I repeat, we're not considering any open-ended commitment. We're not considering any boots-on-the-ground approach."
The talking heads were busy this week powdering the GDP pig. By averaging up the “disappointing” 1.5% gain for Q3 with the previous quarter they were able to pronounce that the economy is moving forward at an “encouraging” 2% clip. And once we get through this quarter’s big negative inventory adjustment, they insisted, we will be off to the ‘escape velocity’ races. Again. No we won’t! The global economy is in an epochal deflationary swoon and the US economy has already hit stall speed. It is only a matter of months before this long-in-the-tooth 75-month old business expansion will rollover into outright liquidation of excess inventories and hoarded labor. That is otherwise known as a recession.
10-year Puerto Rico general obligation bond yields spiked to 12.3% - the highest on record - as the island’s Government Development Bank's $354 million of principal and interest due on December 1st looms. Puerto Rico is now 450bps 'riskier' than Greece, which means Treasury Secretary Jack Lew was wrong again in not taking the German FinMin's offer in July to swap Puerto Rico for Greece...