- Al-Qaeda Links Cloud Syria as U.S. Seeks Clarity on Rebels (BBG)
- Administration Tells Lawmakers of Evidence Linking Assad to Attack (WSJ)
- Director of National Intelligence James R. Clapper to publish numbers of secret spying orders (CBS)
- U.S., Switzerland strike bank deal over tax evasion (Reuters)
- Another Budget Deal Bites the Dust (WSJ)
- Contemplating Summers Drives Investors to Seek Beltway Expertise (BBG)
- Austerity Test Looms in Australia as Abbott Pledges Cuts (BBG)
- Gay Spouses in All States Now Married Under U.S. Tax Law (BBG)
- Shadow banks face limits to securities trading (FT)
- EU's Rehn sees European recovery strengthening in 2014 (Reuters) ... or 2015... or 2022... or never?
As everyone is now completely distracted with the looming prospect of yet another illegal war to be waged by the 2009 Nobel Peace Prize recipient, let’s look at a few other things going on while no one is looking.
Moments ago the UK House of Commons, in a razor thin vote, rejected the Cameron proposal for military action in Syria with a vote 285 to 272. Cameron promptly said he would respect the will of the House of Commons and UK Defense Secretary Phillip Hammond confirmed there would be no UK military intervention in Syria. Incidentally, this may have been the best outcome for an already humiliated British premier who will avoid being dragged into an unpopular war having both sided with his greatest ally, the US, and also relented and listened to the voice of the people. More importantly, the "people" in the UK actually had a voice, which is more than can so far be said about developments in the US. And speaking of the US, the NYT reports that even as the Syrian war "option" is slowly being shut out for staunch US allies (except for France of course), that Obama is "willing to move ahead with a limited military strike on Syria even while allies like Britain are debating whether to join the effort [ZH: and have now voted against it] and without an endorsement from the United Nations Security Council" citing senior administration officials.
A month ago we reported that US fast food workers in several US cities, namely New York City, Chicago, St. Louis, Detroit, Milwaukee, Kansas City, Mo., and Flint, Mich., walked out Monday in a one-day strike demanding a doubling of their pay. Not unexpectedly, even though the president himself has been a strong proponent of rising the minimum wage, the corporations balked and the strikers achieved nothing and just in case there is some confusion, there is a lot of minimum skills, minimum wage applicants (not to mention robots) out there which translates into two words for the strikers: no leverage. However, these concepts may be foreign to a fast-food labor force that probably just wants a day out in the nice weather and to take a break from hard work for a change.
Punishing a moral obscenity flaccidly, with token military action, would constitute a diplomatic mistake of the first order. That's Negotiations Theory 101. Once you commit yourself publicly to some action, you have to keep that commitment or risk becoming a laughing-stock. Failing to follow through disheartens your constituents and allies. And what adversary, present or future, will take you seriously the next time you want to coerce or deter? That's a reputation no political leadership should want. Savvy diplomats and elected leaders are very sparing with absolute rhetoric. Not just the enemy but allies, friends, and bystanders around the world - not to mention ordinary citizens - measure their deeds by their words. No one wants to be known as the leader who fought for justice halfheartedly. Take it from Truman and Bush.
While most of the country is obsessing over Miley Cyrus, the Obama administration is preparing a military attack against Syria which has the potential of starting World War 3. In fact, it is being reported that cruise missile strikes could begin "as early as Thursday". The Obama administration is pledging that the strikes will be "limited", but what happens when the Syrians fight back? What happens if they sink a U.S. naval vessel or they have agents start hitting targets inside the United States? Then we would have a full-blown war on our hands. Could this be the beginning of a chain of events that could eventually lead to a massive global conflict with Russia and China on one side and the United States on the other? Of course it will not happen immediately, but we fear that what is happening now is setting the stage for some really bad things... Let us hope that cooler heads prevail before things spin totally out of control.
Debunking U.S. Claims about UN Weapons Inspections In Syria
With the 22 Arab League member stopping well short of endorsing outside military action - though urging the UN to agree on 'deterrent' measures - the burden of proof for attacking the Assad regime remains firmly on the shoulders of the US. As as the WaPo reports that the administration is planning to release evidence possibly as soon as Thursday, that it will say proves that Syrian President Bashar al-Assad bears responsibility for what U.S. officials have called an “undeniable” chemical attack that killed hundreds on the outskirts of the Syrian capital.
With president Obama taking his role as Warmonger-In-Chief ever more seriously, it is easy to forget that the only important function before the greatest presidential teleprompter reader in history, is that of Socialized Healthcare Provider-in-Comrade. And so today, in the fog of pre-war, the Obama administration released the final rules on the "Individual Mandate" component of Obamacare, which requires most Americans to buy health insurance starting in 2014 or be fined. Specifically, the rules list lay out the amount of penalties that Americans will face if they opt out of socialized healthcare. The WSJ was kind enough to read the Treasury Department release and summarize it as follows.
Syrian President Bachar al-Assad has warned President Obama not to take military action against his country since: “Failure awaits the United States as in all previous wars it has unleashed, starting with Vietnam and up to the present day”.
- Opposition figure: major decisions on Syria expected within hours (Al Arabiya)
- Syria challenges U.S. to "produce the evidence" that Assad regime launched chemical attack (CBS)
- British PM says world must act on Syria, weighs response (Reuters)
- U.S. Treasury to Hit Debt Limit in Mid-October (WSJ)
- U.S. could look beyond U.N. Security Council in any Syria strike (Reuters)
- Nasdaq, NYSE at odds on outage cause as SEC seeks facts (Reuters)
- Ackman’s J.C. Penney Sale Ends Failed Saga to Agitate for Change (BBG)
- Zandi, LaVorgna, Blinder, Rattner all is one con puff piece (BBG)
- Best Buy Founder Schulze Plans Stock Sale to Diversify Assets (BBG) - "diversify assets" = dump overpriced junk
- Zero Worship: Credit-Card Firms Compete With No-Interest Transfers (WSJ)
- Len Blavatnik wins $50m in JPMorgan lawsuit (FT)
- Danone Finds Yogurt’s All Greek as Oikos Chases Chobani (BBG)
Following John Kerry's press briefing, it appears the Obama administration seems absolutely determined to help radical Islamic jihadists that have beheaded Christians, that have massacred entire Christian villages, and that have pledged loyalty to al-Qaeda topple the Assad regime and take over Syria. Yes, the Assad regime is horrible, but if these jihadist lunatics take control it will destabilize the entire region, make the prospect of a major regional war much more probable, and plunge the entire nation of Syria into a complete and utter nightmare. This is setting up to become a colossal foreign policy disaster for the United States.
First Signs of Hyperinflation Have Arrived: US National Debt Can Travel From the Earth to the Sun and Back a Stunning 83 Times!Submitted by smartknowledgeu on 08/26/2013 09:44 -0500
If one were to lay $1 bills side by side, the current US National Debt would reach from the earth to the moon 32,358 TIMES AND BACK and to the sun 93 million miles away 83 times AND BACK.
Last week it was the Nasdaq, today it was the Eurex Exchange, which broke down "due to technical issues" shortly after 2 am Eastern and which was offline for over an hour. Further keeping a lid on liquidity and upward momentum is today's UK market holiday which has resulted in a driftless move lower across European stocks, following a red close in the Nikkei225. It only means that the inevitable ramp up in the disconnected from all fundamentals and reality market will have to come only during US trading hours when the NY Fed trading desk steps up its POMO-aided levitation.
“It is the absolute right of the state to supervise the formation of public opinion.” - Goebbels
Only under the Obama Presidency, in which every appointment, minor or major, is handed only to the most corrupt, devious crony to be found, can a man like Cass Sunstein be appointed to serve on the NSA oversight panel. Cass is a noted propagandist, who has advocated that government agents should infiltrate groups and discussions that push “conspiracy theories” in order to delegitimize them. But don’t take our word for it...