"As part of an intellectual tradition that saw the salvation of the world in some form of world government... and with the financial backing of the CIA and the US State Department, the Anglo-American establishment was now committed to the creation of a federal United States of Europe." Today, this is still the case. Powerful international lobbies are already at work attempting to prove that any return to democratic self-government will spell doom.
Following yesterday's dramatic geopolitical shock, U.S. equity index futures rise as Russia has not escalated the confrontation with Turkey as some had feared, while Asian shares fall, reversing earlier gains. European stocks are rallying and the euro is falling on the back of a Reuters report that the ECB is mulling new measures to prop up lending, although it’s not clear at this point what the real impact from these measures would be.
"The political left is happy to see people cross borders but would gladly restrict the flow of capital and goods. The political right is happy to see capital and goods cross borders but would gladly build a fence to restrict the flow of people. I’m afraid that the compromise might be to restrict people, capital and goods."
The Trade-Weighted US Dollar has risen almost 19% over the past 18 months - the fastest pace of increase on record - and is now at its highest level since 2003. As we noted previously, this is not unequivocally good for American corporate profits... and if you believe The Fed's Stan Fischer - the worst effects of this soaring exchange rate are yet to come... Most of the impact of exchange rate moves come after that first year. So we’re only just getting into the business end of the impact of the dollar’s strength on the US economy. And the Fed are about to hike?
The headline-making celebrations of the mind-blowing numbers associated with China's Singles-Day sales drove investors to buy BABA ahead of the open in excited 'everything is awesome' anticipation. However, between 'sell the news' profit-takers, weak China macro, and a WSJ story confirming our recent fears on counterfeit goods, BABA is now down over 4% on the day, back below the 200-day moving average.
Empires, like adolescents, think they’ll live forever. In geopolitics, as in biology, expiration dates are never visible. When death comes, it’s always a shock. "At the beginning of the great unraveling, in 2015, I was still a young man. Like everyone else, I didn’t see this coming. Today, in 2050, fewer and fewer people can recall what it was like to live among those leviathans... Thirty-five years and endless catastrophes later on a poorer, bleaker, less hospitable planet, it’s clear that we just weren’t paying sufficient attention. Had we been listening, we would have heard the termites. There, in the basement of our common home, they were eating the very foundations out from under us. Suddenly, before we knew quite what was happening, all that was solid had melted into air."
While some have called The Trans-Pacific Partnership, "the most brazen corporate power grab in American history," President Obama tells Americans - in an Op-Ed released today - that "it’s the right thing to do for our economy, for working Americans and for our middle class" Despite indepedent analysis that appears to confirm the creeping corporate coup d’état along with the final evisceration of national sovereignty, President Obama explains - in simple words - ObamaTrade is "a trade deal that helps working families get ahead," due, inhis opinion, to the "toughest global labor laws" which will allow American workers to compete on a so-called "level playing field."
2015 has been an 'odd' year. Typically this time of year sees demand picking up amid holiday inventory stacking and measures of global trade such as The Baltic Dry Index rise from mid-summer to Thanksgiving. This year, it has not. In fact, it has plummeted as the world's economic engines slow and reality under the covers of global stock markets suggests a massive deflationary wave (following a massive mal-investment boom). At a level of 631, this is the lowest cost for Baltic Dry Freight Index for this time of year in history.. and within a small drop of an all-time historical low.
Global Trade In Freefall: China Container Freight At Record Low; Rail Traffic Tumbles, Trucking Slows DownSubmitted by Tyler Durden on 11/04/2015 17:42 -0500
Trucks, Trains and now Ships: suddenly everything seems to be in freefall.
The desire to take the American public out of the “of the people, by the people, for the people” business can minimally be traced back to the Vietnam War, to the moment when a citizen’s army began voting with its feet and antiwar sentiment grew to startling proportions not just on the home front, but inside a military in the field. It was then that the high command began to fear the actual disintegration of the U.S. Army. From that moment on, the urge to demobilize the American people and send them to Disney World would only grow.
No, Ben S. Bernanke will be someday remembered as the world’s most destructive battleship admiral. Not only was he fighting the last war, but his whole multi-trillion money printing campaign after September 15, 2008 was aimed at avoiding an historical Fed mistake that had never even happened!
It's not a good time for this.
Trump embodies the American zeitgeist, circa 2015 – its virtues, its vulgarity, its inchoate mixture of common sense and incoherence. You may not like Donald Trump, for any one of a number of reasons, but anti-interventionists have to give him some credit for opening up the presidential debate to a critique of US foreign policy that hasn’t been seen or heard since the Ron Paul campaign.
He's right ...