With a March 16th date set for Crimea's referendum (to confirm that the region, which has an ethnic Russian majority, is a part of Russia) and a few short days after Ukraine's Prime Minister Yatsenyuk is due to meet President Obama in the White House, Reuters reports that The United States will not recognize the annexation of Crimea by Russia if residents of the region vote to leave Ukraine. Obama has said a referendum on Crimea would violate international law and the Ukrainian constitution... but this raises 3 awkward (and apparently hypocritical) questions on the right to self-determination... and pins March 16th as a crucial inflection point between Russia and US.
If there is a new cold war with Russia, many observers believe the U.S. is losing it. First under President George W. Bush and now under President Obama, the U.S. and Vladimir Putin’s Russia have engaged in a series of foreign policy battles — and Putin has repeatedly got his way. The Russian president’s objective is clear. He wants to reassert Russia’s influence in Eastern Europe while preventing NATO’s further expansion toward Russia. Lawmakers and experts across the political sphere warn that if the Obama administration and its western allies are not effective in dealing with Putin this time, it could have serious consequences going forward. And the dangers go beyond Putin.
Geopolitical crises in Eastern Europe have been met with calls in the United States to use energy as a foreign policy tool. With U.S. Energy Secretary Ernest Moniz asking the industry to make a stronger case, however, it's domestic policies that may inhibit energy hegemony.
Despite warnings from various members of the Fed that Student Loans are becoming troublesome, we suspect President Obama's address this afternoon on expanding opportunities to go to college will be nothing but more pumping free money into a hyper-inflating (and increasingly worthless) higher education system...
A week after Obama held his first crisis photo op holding a phone while supposedly talking to Putin, he has followed up with another, hour-long conversation. Below is the official White House statement on what was said.
It would appear the Norwegian Nobel Institute is starting to lose it. Just a few years after President Obama won the Peace Prize (while mired in overseas wars), the director of the prestigious entity announced today that Russian President Vladimir Putin, accused of invading Ukraine - suspiciously un-peaceful action - has been nominated for the Peace Prize. Putin joins NSA whistleblower Edward Snowden and Pakistani schoolgirl Malala Yousafzai as a nominee for the award to be announced in October.
President Obama released his 2015 budget proposal this week...and as expected, it contained even more language about his MyRA initiative. As we’ve discussed so many times in the past, IRAs are an irresistible kitty for such a bankrupt government. The US government itself estimates that over $5 trillion is tucked away in American retirement accounts. They need that money. Your money. The US government is struggling to come up with new funding sources… and retirement accounts are by far the easiest target. Why? Because the majority of retirement accounts at trapped at big Wall Street banks, which are all de facto agents of the government. All the Treasury Department has to do is make a phone call. Yesterday’s budget announcement constitutes the next phase: automatic enrollment.
With Western condemnations rife, bailouts ready to flow, US F-16s on the ground in Poland, Crimea voting to join Russia, and allies pulling back from sanctions, we anxiously await President Obama to explain his next steps and just what will trigger them...
Below is the photo that reveals why US and EU bankers despise Russian President Putin so much
"Hello there citizen! I hope you are enjoying your day. I also hope you are enjoying your freedom from oppression that our kind, benevolent government provides. As a former lead bureaucrat in the Obama Administration, let me assure you, Washington is working around the clock to protect you and add fulfillment to your life..."
In what is becoming an epic embarrassment, the WSJ reports that the Obama administration announced today that consumers can keep insurance plans that don't comply with the federal health law for another two years, pushing a potential firestorm over cancellations and broken promises that "you can keep your health plan". As The Hill adds, the unprecedented move will protect vulnerable Democrats in the midterm elections by staving off a wave of cancellation notices and for some consumers, rather stunningly, Obamacare will not be in place for all Americans when President Obama leaves office. Sickeningly, the administration explicitly gave cover to 13 vulnerable Democratic lawmakers by saying the extension was developed in “close consultation” with those members.
With even Warren Buffett saying it's a bad idea, we can't wait to hear how President Obama will explain how his move to raise the minimum wage will create jobs and save the middle class....
“Maybe the American people or the government or whoever raises their eyebrows can say how could the Europeans be so moderate on the debate over sanctions.
Guess what? You don’t want to sanction anyone you depend on,”
It’s history in the making, sitting on the sidelines, watching the scuffle happen and roll before your very eyes. But, it’s not worth a great deal when you know what the end of the match is going to be.
For all the chest-thumping from policymakers about the declining unemployment rate and increase in GDP growth in the second half of last year, these statistics are easily misread. More telling indicators, such as private domestic demand, haven’t picked up at all. Nor would you expect a robust recovery as long as employers create mostly lousy jobs. In the horse race between the real economy and the risk of financial instability, the real economy seems to be falling behind. Financial risks are growing steadily, as we discussed in “Tracking ‘Bubble Finance’ Risks in a Single Chart.” The real economy, on the other hand, is held back by weak income growth.