• Marc To Market
    11/22/2014 - 10:16
    Contrary to the death of the dollar chatter, the US currency continues to appreciate.  Here's why there is still punch left in the bowl.  
  • Tim Knight from...
    11/21/2014 - 21:06
    As you can see by this view of the NQ, this massively bullish news has not, as of yet, represented any kind of sea-change in the markets. Before the day was even out (again, in some, not all markets...

Obama Administration

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NAFTA Is 20 Years Old – Here Are 20 Facts That Show How It Is Destroying The Economy





Back in the early 1990s, the North American Free Trade Agreement was one of the hottest political issues in the country.  When he was running for president in 1992, Bill Clinton promised that NAFTA would result in an increase in the number of high quality jobs for Americans that it would reduce illegal immigration.  Ross Perot warned that just the opposite would happen.  He warned that if NAFTA was implemented there would be a "giant sucking sound" as thousands of businesses and millions of jobs left this country.  Most Americans chose to believe Bill Clinton.  Well, it is 20 years later and it turns out that Perot was right and Clinton was dead wrong.  But now history is repeating itself, and most Americans don't even realize that it is happening.  As you will read about at the end of this article, Barack Obama has been negotiating a secret trade treaty that is being called "NAFTA on steroids", and if Congress adopts it we could lose millions more good paying jobs.

 
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Ferguson, Bundy Ranch, & 'Dancing The Night Away' With The Obamas





We believe Ferguson will be seen as a major turning point. The point in which many well-intentioned, but incredibly naive folks in white mainstream America woke up to what we have become. Many people, particularly those in the media, have been willfully ignorant about the destruction of freedom and civil liberties in America. The events in Fergus have taken a gigantic mirror and successfully pointed it squarely at our civil society and the image it has reflected back is one of a horrific, militarized, authoritarian monster. So how did this transformation occur and what does it mean going forward?

 
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70 Years Later - Warren Buffett's Dad Is Proved Right (About Everything)





"Far away from Congress is the real forgotten man, the taxpayer who foots the bill... For if human liberty is to survive in America, we must win the battle to restore honest money."

"the paper money disease here may take many years to run its course...but when that day arrives, our political rulers will probably find that foreign war and ruthless regimentation is the cunning alternative to domestic strife."

 
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Obama Plans "Non-Boots-On-The-Ground Humanitarian-Adviser-Marines-Led" Yezidi Rescue Mission In Iraq





Last night we nearly exploded when the adminstration tried to explain how the 130 Marines (military advisers) were non-combat troop 'boots-on-the-ground' in Iraq. Today, the State Department, Pentagon, and White House are all out with mind-numbing propaganda to reassure an anxious America that a planned rescue mission of 'thousands' of Yezidi will be entirely supported by non-combat troops.

 
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Here Is The Average Cost To Rent A 2-Bedroom Apartment In Your City





With record rental expenses already forcing millions of Americans to have far less disposable income for everything else once the monthly bill for the roof above one's head is paid, here is a breakdown of 25 selected US metropolitan areas, ranked from most to least expensive, how much it costs to rent a two-bedroom apartment (one can only assume the $1,440 price listed for New York is based on some non-GAAP, magical numbers that exclude reality).

 
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ISIS And The Coming Escalation In Iraq





ISIS has attracted an entire generation of radicalized Sunni militants to the region. If one watches interviews with their enemies such as e.g. Peshmerga fighters, one topic that is occasionally mentioned is that they don't seem to fear death much. Combined with their well-known brutality, this undoubteldy makes them a formidable fighting force. However, there is evidently far more to ISIS than that. All of the above suggests that it will be exceedingly difficult to effectively destroy ISIS. It seems to us that if the goals the president has announced in recent days are to be achieved, nothing short of a full-scale invasion of Iraq (as well as of Syria for good measure) is likely to suffice – and even then, success is by no means guaranteed.

 
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If You Like Your "Boots On The Ground", Here's More - Obama Plans To Send 75 More 'Advisers' To Iraq





Despite reassurances that there will be "no US combat troops in Iraq again" on Friday, it appears - thanks to nuance of spin - that President Obama has changed his mind...

*OBAMA SAID TO CONSIDER SENDING ABOUT 75 MILITARY ADVISERS TO IRAQ: CNN

The question we have is - when does a "military adviser" stop being an 'assassination consultant' and start being a troops' boot on the ground?

 
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Enough Bad News Overnight To Send Futures Higher On Turbo Tuesday





If the global equity "markets" were in need of a sharp "horrible news is great news" boost overnight, it came courtesy of Germany's ZEW investor confidence survey, which printed at a stunning 8.6, a plunge from the 27.1 in July and far below the 17.0 expected - the lowest print since December 2012 -largely suggesting that a European triple-dip is all but assured. And if that wasn't enough, strong language from John Kerry, assured to fan the flames of geopolitical instability, came hours ago when the US SecState said even more Russian sanctions may be coming. And just to make sure the NY Fed trading desk has to come up with a new narrative is the latest development in the Russian "humanitarian convoy" saga, which as we reported last night, has departed Russia but which Ukraine is now refusing to allow into its country. All in all, it's is setting up to be another super bullish day in the rigged markets for which all that matters is... Tuesday.

 
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Syria 2.0: US Starts Sending Arms To Kurdish Fighters





While Einstein defined insanity as repeating the same behavior and expecting different results, it appears President Obama's administration defines that action as US foreign policy. Just as they did in Syria (where the US 'trained' moderate Al Qaeda terrorists, instead of "sending troops" - ensuring no 'boots on the ground' blowback), AP reports that the US is sending arms to the Kurds as their new proxy mercenary force in Northern Iraq. We are sure the result will be different this time?

 
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Guest Post: The U.S. Airstrikes In Northern Iraq Are All About Oil





This week, President Barack Obama announced that he was authorizing American airstrikes in Iraq. He described his intervention as a “humanitarian effort to help save thousands of Iraqi civilians who are trapped on a mountain” and as an effort “to protect our American personnel.” One word that he didn’t mention is “oil,” but it lies near the center of American motives for intervention.

 
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The Gold Market: An Analysis Of Recent Geopolitical, Economic And Banking Events





Physical gold is migrating to the East (Russia, China) and, with it, power and influence. We see it with China and Russia progressively imposing their will, building consensus with a great many countries that wish to end American domination made possible by their capacity (privilege) of issuing the world reserve currency. The saying, “He who holds the (physical) gold makes the rules”, is truer than ever. The announcement of the creation of the BRICs development bank is just the first cornerstone in the new international monetary edifice. All we have to wait for is the first official announcement from the East of a new means of settlement of commercial trade based on one or more tangible assets, with gold. Afterwards, logically, an announcement of the convertibility of certain currencies into gold, or even the creation of a new currency that would be convertible to gold, should be made.

 
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Frontrunning: August 8





  • Pope Francis calls for action as Iraqi Christians forced to flee (Reuters)
  • Richest Russians Deprived of Luxury Foods by Putin’s Ban (BBG)
  • Exxon Drilling Russian Arctic Shows Sanction Lack Bite (BBG)
  • Israeli Jets Strike Gaza Targets After Rockets Shatter Truce (BBG)
  • U.S. starts aid airdrops in Iraq but no strikes yet (Reuters)
  • Banks Said to Be Arranging Argentine Debt Buyer Group (BBG)
  • Siberia Flight-Ban Threat Forces Airlines to Mull Options (BBG)
  • Malaysia Airlines to Be Delisted in $429 Million Buyout (BBG)
  • Erdogan poised to win Turkey's first popular presidential vote (Reuters)
  • African Bank Fights Collapse in Espirito Santo-Like Drama (BBG)
  • China to build lighthouses on five isles in defiance of U.S. call (Reuters)
 
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70% Of Americans Believe Illegal Immigrants Threaten Way Of Life





In recent weeks, Bloomberg Businessweek reports, President Obama and congressional Republicans have begun to offer the same simple-sounding solution for dealing with the flood of children crossing the U.S. border alone: Send the kids home. But with tens of thousands of them churning through the system, some just toddlers, the logistics are overwhelming. Since October, more than 57,000 children have arrived by themselves, most from Central America (as we show below), and 22,000 more have been detained with their parents (mostly children under 12). The American people appears considerably more concerned than the politicians - a Reuters/Ipsos poll shows 70% of Americans - including 86% of Republicans - believe undocumented immigrants threaten traditional U.S. beliefs and customs.

 
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If You Like Your Exemption, Keep It: 90% Of Uninsured Won't Pay Obamacare Penalties





No insurance, no penalty appears to be Obamacare's new meme as The Wall Street Journal reports almost 90% of the nation's 30 million uninsured won't pay a penalty in 2016 because of a growing batch of exemptions to the health-coverage requirement. In the interests of socialism, the Obama administration has provided 14 ways people can avoid the fine (on top of exemptions carved out under the 2010 law for groups including illegal immigrants, members of Native American tribes and certain religious sects). The exemptions are worrying insurers, as they could make it easier for younger, healthier people to forgo coverage, leaving the pools overly filled with old people or those with health problems. That, in turn, could cause premiums to rise.

 
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