President Obama

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Frontrunning: July 23





  • Here come the gates which we predicted in 2010: SEC Is Set to Approve Money-Fund Rules (WSJ)
  • Dick's cuts 400 jobs as golf now less popular (MW)
  • Kerry arrives in Israel, pushes for peace (Reuters)
  • Pay Penalty Haunts Recession Grads as U.S. Economy Mends (BBG)
  • Appeals Courts Issue Conflicting Rulings on Health-Law Subsidies (WSJ)
  • Rebel Stronghold Donetsk Holds Breath as Shellfire Mounts (BBG)
  • Business executive wins Georgia Republican runoff in U.S. Senate race (Reuters)
  • Five held in China food scandal probe, including head of Shanghai Husi Food (Reuters)
  • Jobs Hold Sway Over Yellen-Carney as Central Banks Splinter (BBG)
 
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The Stealing Of America By The Cops, The Courts, The Corporations And Congress





“What the government is good at is collecting taxes, taking away your freedoms and killing people. It’s not good at much else.” —Author Tom Clancy Call it what you will—taxes, penalties, fees, fines, regulations, tariffs, tickets, permits, surcharges, tolls, asset forfeitures, foreclosures, etc.—but the only word that truly describes the constant bilking of the American taxpayer by the government and its corporate partners is theft. What Americans don’t seem to comprehend is that if the government can arbitrarily take away your property, without your having much say about it, you have no true rights. You’re nothing more than a serf or a slave.

 
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Stocks Desperate To Put Ukraine In Rearview Mirror But More Russian Sanctions Loom





Following the overnight ramp in various JPY crosses (dragging equity futures higher, and the Nikkei up 0.8%) it is as if the market is desperate to put all of last week's geopolitical events in the rearview mirror, and while yesterday there were no economic events of note, today's CPI and existing home prints should provide at least some distraction from the relentless barrage of one-line updates on Ukraine and Gaza. Still, that is precisely where the biggest risk remains, with an emphasis on the possibility of more Russian sanctions, this time by Europe.

 
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Ron Paul: What The Press Isn't Reporting About The MH17 Disaster





Just days after the tragic crash of a Malaysian Airlines flight over eastern Ukraine, Western politicians and media joined together to gain the maximum propaganda value from the disaster. It had to be Russia; it had to be Putin, they said. President Obama held a press conference to claim – even before an investigation – that it was pro-Russian rebels in the region who were responsible. His ambassador to the UN, Samantha Power, did the same at the UN Security Council – just one day after the crash! While western media outlets rush to repeat government propaganda on the event, there are a few things they will not report.

 
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Obama's Ukraine Update - Live Feed





The "proof" is flying back and forth from The US and Russia, with the disastrous MH17 crash polarizing the world's nations in a troubling (but BFTWWIII) manner. Following a weekend of European leaders getting behind The US, China has come out strongly supporting Russia who itself asked some awkward 'proof-laden' questions this morning. We leave it to President Obama to dictate exactly what we should all believe and just how bad things will get unless Russia gives up...

 
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"I Was Absolutely Shocked At What I Read," Congressman Calls For Release Of Secret 9/11 Documents





“I was absolutely shocked by what I read... What was so surprising was that those whom we thought we could trust really disappointed me. I cannot go into it any more than that. I had to sign an oath that what I read had to remain confidential. But the information I read disappointed me greatly.”

 
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White House 'Quietly' Exempts 4.5 Million People In 5 "Territories" From Obamacare





As WSJ reports, last week's geopolitical chaos and distraction was ideal for a news dump, and the White House didn't disappoint: On no legal basis, all 4.5 million residents of the five U.S. territories were quietly released from ObamaCare. It seems the costs of healthcare soared in these five territories due to uneconomic mandates - which woul dhave been a disaster PR-wise for the administration and so, under cover of catastrophe, WSJ reports all of a sudden last week HHS discovered new powers after "a careful review of this situation and the relevant statutory language," that enabled them to 'selectively exempt' American Samoa, Guam, Puerto Rico, Northern Mariana Islands, and Virgin Islands from Obamacare. And all while vacationing...

 
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A "Tone-Deaf" Obama Mocked By The NYT For Vacationing While The World Burns





For an administration in its sixth year, juggling presidential optics is nothing new. And with some rare exceptions, the public relations team around the president has remained consistently stubborn about refusing to let the never-ending stream of political, economic or international crises affect Mr. Obama’s daily schedule. The current myriad incidents are no exceptions: Moments after making a grim statement about Ukraine on Friday, the president popped into the East Room, where the first lady, Michelle Obama, was holding a mock state dinner for children to promote her Let’s Move nutrition initiative. “My big thing,” he confessed to the kids, “chips and guacamole!” There was plenty of laughter all around.

 
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President Obama Defends Israel, Condemns Hamas, Sends Kerry To Egypt To Fix It





President Obama and Israeli Prime Minister Netanyahu spoke on the phone today; The White House just released the clarifying statement of next steps...

 
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The 2 Charts That Have BofA Worried About A "Greater Correction" In Stocks





While the S&P500 rebounded sharply on Friday, BofAML's Macneil Curry warns evidence continues to say that this is a very late stage advance from which a greater correction is forthcoming. The recent deterioration in breadth (52wk highs failing to keep track with price), the negative seasonal period and divergences between the broader indexes say that risk/reward is skewing to the downside. Bottom Line: "The S&P 500 is vulnerable."

 
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President Obama's "Handouts" In 1 Cartoon





Presented with no comment...

 
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How Iraq Was Demolished By Washington's Intervention, Incoherence And Arrogance





For Americans, it was like the news from nowhere. Years had passed since reporters bothered to head for the country we invaded and blew a hole through back in 2003, the country once known as Iraq that our occupation drove into a never-ending sectarian nightmare. In 2011, the last U.S. combat troops slipped out of the country, their heads “held high,” as President Obama proclaimed at the time, and Iraq ceased to be news for Americans. With Maliki, it has simply been a different dictator, enjoying even more such support (until these last weeks), and using similarly barbaric tactics against Iraqis. Today, Washington’s policies continue in the same mindless way as more fuel is rushed to the bonfire that is incinerating Iraq.

 
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President Obama Dictates What Happened In Ukraine And Whose Fault It Is - Live Feed





President Obama was a little cagey early yesterday in finger-pointing or assigning blame... but later in the day, he was clear that Putin and Russia were responsible. This morning we are told that the US "believes" it was pro-Russian separatists "maybe." We await President Obama's statement (and hopefully Q&A) this morning as he explains the situation in Ukraine... and how he won't stand for it any longer. Despite Russia signing energy and investment deals with numerous nations around the world and being at the hub of the creation of the BRICS Bank, we are sure President Obama will dictate how isolated Russia is becoming (despite Europe's "fold" on further sanctions for fear of retaliation).

 
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