Having won Time's "Person of the Year" award, German chancellor Angela Merkel may have little time, or cause, for celebration. The reason for that is shown in the chart below.
This afternoon we got another completely amorphous claim from The Pentagon regarding the death of a “senior” ISIS commander when Special Presidential Envoy for the Global Coalition to Counter ISIL (whatever that is) Brett McGurk took to Twiiter to announce the death of an Islamic State FinMin.
After Vicious Rollercoaster Session, Global Stocks Flat, US Futures Stage Tepid Rebound In Illiquid ChaosSubmitted by Tyler Durden on 12/10/2015 06:53 -0500
After yesterday's rollercoaster session in both the S&P and in oil, where initially stocks soared alongside oil, only to promptly tumble as stops were taken out and as the refiners' inventory strategy was exposed after the DOE's latest weekly numbers were released, it has been a quieter session so far, though maybe not for China where stocks jumped at the open only to fizzle and close at the lows in what appears to be ever less intervention by the market manipulating "National Team."
With Turkey and Iraq still at odds over the former's deployment of between 150 and 300 troops along with two dozen tanks to Bashiqa, Russia told the Security Council on Tuesday that Ankara is acting "recklessly and inexplicably." Of course Moscow has a powerful friend among the five permanent members and on Wdnesday, Beijing weighed in on the Turkish troop issue for the first time.
“The government and parliament need to review the agreement signed with the United States on security because the United States does not seriously care about its fulfillment, We demand that it be annulled."
"This new, modern, highly efficient, and highly precise weapon can be equipped with both a conventional warhead as well as a special, nuclear warhead. Naturally, in the fight against terrorism that is not needed and I hope there will be no need [to use nukes against the Islamic State]."
- Vladimir Putin
Send a Million Troops From All Over the World Pouring Into Raqqa
According to one US soldier who fought in Mosul from 2005 to 2006, all of the "loose talk" about retaking the city from ISIS is wishful thinking. "Look at the stories from Fallujah — a city that is 20 percent the size of Mosul," he cautions adding that even if the city could be captured and sealed off from ISIS supply lines, troops would need to "settle in for a siege and a ten-year war of attrition."
"Training at this camp began with the knowledge of the Iraqi Defence Ministry and police. Those who make different interpretations of the Turkish military presence in Mosul are involved in deliberate provocation."
"ISIS is an enemy of my country. ISIS is a disgrace. It puts my religion in a bad light. They don't represent Islam and I do not consider them to be Muslims.”
While EM sovereigns as a group may be in better shape now in terms of “original sin” (i.e borrowing heavily in foreign currencies) than they were during say, the Asian Currency Crisis, the confluence of factors outlined above means no one is truly “safe” in the current environment as moving from liquidation back to accumulation will entail a sharp reversal in commodity prices and a pickup in the pace of global growth and trade.
"The reaction of Erdogan and Turkish authorities can say one thing: they were stunned and shocked that Moscow has such evidence. This significantly affected the position of Turkey's NATO allies."