SWIFT

Turkey Blames Kurds, Assad For Terrorist Attack, Vows Swift Response

"All necessary measures will be taken against [YPG and PKK] anywhere and under any circumstances. No attack against Turkey has been left unanswered. All those who intend to use terror pawns against Turkey must know that [playing] this game of terror will hit them like a boomerang,"

How Far Will The U.S. Go If Turkey Invades Syria?

The Government of Turkey has now put itself in a position whereby it must act rapidly and precipitously to avoid moving to an ultimately losing strategic position in the war against Syria, which could result in being forced back to fight a full-scale civil war to prevent the break-up of the State into at least two components, one being a new Kurdish state. The Obama Administration, with less than a year to run on its term, is also throwing caution to the winds, and is empowered in this by the diversion of U.S. political attention on the November 2016 Presidential elections. President Obama hopes to move the U.S. into an irrevocable military action in Syria before the Washington political establishment can warn him off it. And he might succeed.

Keynesianism's Long March To The Dustbin Of History

The whole Keynesian regulatory structure is going to collapse. Why? Because we are reaching an inflection point. We are reaching the point at which the exponential curve turns sharply upward. This is good news for liberty, and it is bad news for the arrogant theorists of Keynesian central planning, the arrogant tenured bureaucrats of central banks, and the protected employees of virtually every other government-regulated industry or profession. They are presiding over the final stages of the illusion of central planning.

China's 3 Trillion Dollar Mistake

When looking at the current state of the Chinese economy it is important to note what happened leading up the ongoing predicament.

Futures Flat As Dollar Weakness Persists, Crude Rally Fizzles

After yesterday's torrid, chaotic moves in the market, where an initial drop in stocks was quickly pared and led to a surge into the close after a weaker dollar on the heels of even more disappointing US data and Bill Dudley's "serious consequences" speech sent oil soaring and put the "Fed Relent" scenario squarely back on the table, overnight we have seen more global equity strength on the back of a weaker dollar, even if said weakness hurt Kuroda's post-NIRP world and the Nikkei erased virtually all losses since last Friday's surprising negative rate announcement. Oil and metals also rose piggybacking on the continued dollar weakness as the word's most crowded trade was suddenly shaken out.

Success Is A Source Of Destabilization

We tend to assume our system for understanding the cause of failure must be sound, because we've experienced Roaring Success for so long. Rip-Roaring Success can destabilize in a number of ways.

So What Now?

The Global Dow followed the old Wall Street adage about bull markets taking the escalator and bear markets, the elevator. In fact, it may have simply jumped down the elevator shaft as, in a span of just 10 days, the index found itself already down at that lower support level. So what now? The risk has been wrung out and back up the escalator we go? Well, not necessarily.

A Glimpse Of Things To Come: Bankrupt Shale Producers "Can't Give Their Assets Away"

The end of America’s oil “miracle” is coming and there’s nothing Wall Street can do to stop it. At this point in the game, no one is going to finance the oil patch's cash flow deficits and the fundamentals in the oil market are laughably bad. As Bloomberg reports, Wall Street is about to have a serious bout of “indigestion” because recent auctions suggest that “some bankrupt oil and gas drillers can’t give their assets away.”