"The Russian intervention is a massive setback for those states backing the opposition, particularly within the region – Qatar, Saudi Arabia and Turkey – and is likely to elicit a strong response in terms of a counter-escalation."
"They're Hopping Mad In The US And Saudi Arabia": Russian Strikes In Syria Spark Epic Western Media Propaganda BlitzSubmitted by Tyler Durden on 10/02/2015 21:01 -0400
"They’re hopping mad in Saudi Arabia, the U.S. And Qatar because of their defeat and the victory of Russia and Syria and the unraveling of the fact that the U.S. and its allies are not serious about fighting Islamic State. Those who claim to be concerned about the Syrian people are the ones slaughtering the Syrian people through the terrorists."
"Australia has benefited from China’s growth over the past decades, but has become a less diversified and commodity dependent economy in the process. It is now exposed to China’s slowdown, and may be unable to re-engineer itself quickly enough to avoid the end of the commodity super-cycle. The worst is yet to come, in our view."
"It is not a problem of liquidity, but of fundamentals"...
The signs of deflation are now flashing all over the globe and the possibility of an associated financial crisis is now dangerously high over the next few months. Our preferred model for how things are going to unfold follows the Ka-Poom! Theory, which states that this epic debt bubble will ultimately burst first by deflation (the "Ka!") before then exploding (the "Poom!") in hyperinflation due to additional massive money printing efforts by frightened global central bankers acting in unison. First an inwards collapse, then an outwards explosion.
In Latest Sign Of EM Chaos, Turkey's FX Reserves Fall Below Key Threshold Ahead Of Pivotal ElectionsSubmitted by Tyler Durden on 10/01/2015 16:45 -0400
If you think it’s bad now, just wait until November. If AKP doesn’t secure an absolute majority there’s no telling how Erdogan will react and if Ankara moves to nullify yet another democratic election by intentionally stirring up the PKK, you can expect outright chaos.
As Bloomberg reports, "German Chancellor Angela Merkel’s government signaled it will step up expulsions of economic migrants after the influx of asylum seekers reached a record in September."
What Could Possibly Go Wrong?
Believe it or not, American soldiers fighting against ISIS in Syria and Iraq will actually be wearing the emblem of ISIS – the infamous crossed-swords logo. Well, almost. Controversy has stirred because many think the patch looks too much like our boys are fighting for the enemy… just another sign of confusion about the counterproductive Obama-led war against the notorious and shamefully exploitative jihadist army.
Brazilian Nightmare Worsens On Bad Budget Data, Record Low Confidence, Horrific Government Approval RatingsSubmitted by Tyler Durden on 09/30/2015 17:11 -0400
With the fiscal picture looking increasingly precarious and confidence collapsing, we bring you the latest from the frontlines of the EM meltdown. In short, Brazil is falling apart at the seams. Now, who wants tickets to the 2016 Olympic Games in Rio?
In the wake of the global commodities rout which recently saw prices touch their lowest levels of the 21st century, there’s been no shortage of commentary (here or otherwise) on the pain that’s been inflicted on commodity currencies and by extension, on EM. As it stands, the world’s emerging economies face a kind of perfect storm triggered by a combination of the following factors: falling commodity prices, depressed Chinese demand, and the threat of an imminent Fed hike. With the situation deteriorating virtually by the day, we thought it an opportune time to highlight the spike in EM credit risk...
With The UN's Ban earlier commenting that "Syria is out of control" and demanding that Russia, US, Saudi, iran and Turkey cooperate, it will be interesting to see what tack President Obama takes in his address this morning...
Whether it’s the economy, climate, the planet, warfare, your future obligations, your pensions, the future of your children, nobody in power tells you the truth. Human life is fast losing the value we would like to tell ourselves we assign to it. We don’t, do we? Our technological advances haven’t come with moral advances, quite the contrary, our morals turn out to be a thin layer of mere cheap veneer. What advances we’re making are the last death rattle of a society in decline, and a dying civilization.
George Soros Demands EU Accept 1 Million Refugees (Costing €15 Billion) Per Year For Foreseeable FutureSubmitted by Tyler Durden on 09/27/2015 14:15 -0400
The exodus from war-torn Syria should never have become a crisis, according to billionaire George Soros; it was long in the making, easy to foresee, and eminently manageable by Europe and the international community. While some leaders, like Hungary's Orban, have suggested plans, these subordinate the human rights of asylum-seekers and migrants and threaten to divide and destroy the EU by renouncing the values on which it was built and violating the laws that are supposed to govern it. Soros demands that The EU respond with a genuinely European asylum policy that will put an end to the panic and the unnecessary human suffering.
Neoliberal economics is blind to reality and serves to justify the destruction of the economic prospects of the Western World. It remains to be seen if Russia and China can develop a different economics or whether these rising superpowers will fall victim to the “junk economics” that has destroyed the West. With so many Chinese and Russian economists educated in the US tradition, the prospects of Russia and China might not be any better than ours. The entire world could go down the tubes together.