Obama Administration

With just days left until the November 3rd D-Day when the Treasury runs out of emergency cash and is forced to prioritize debt repayments over government spending, moments ago Politico reported that "congressional leaders and the White House are working toward a two-year agreement. A debt ceiling measure is on a parallel track."

With the US on its heels in the Mid-East in the face of an aggressive Russian air campaign and a resurgent Iran, regional governments are beginning to reassess their loyalties. First it was Iraqi PM Haider al-Abadi proclaiming that his country would welcome Russian airstrikes against ISIS, then it was Jordan agreeing to coordinate militarily with Moscow, and now, in the latest embarrassement for the Pentagon, Afghanistan has reached out to Vladimir Putin for artillery, small arms and Mi-35 helicopter gunships. 

"Anyone caught in the vicinity is guilty by association. When a drone strike kills more than one person, there is no guarantee that those persons deserved their fate. … So it’s a phenomenal gamble.”

At a time when the US and China are practically at arms over the artificial islands in the South China Seas, with the US sending warships on location to patrol (despite White House Spokesman Josh Earnest saying on Oct. 8 that U.S. warships "should not provoke significant reaction from the Chinese") and a stunned China responding "What On Earth Makes Them Think We Will Tolerate This", the last thing we thought we would see right now was three Chinese warships about to port in Florida's Naval Station Mayport. And yet according to USNI that is precisely what is about to happen.

To be king implies preeminence, or lasting rule. In the Arctic, such oil and gas supremacy is still little more than a dream. That dream remains alive in Russia however, and the nation – through an unmatched stubbornness and a decidedly timid field of competitors – is making a strong bid for the throne.

What if the U.S. had not invaded Iraq in 2003? How would things be different in the Middle East today? Was Iraq, in the words of presidential candidate Bernie Sanders, the "worst foreign policy blunder" in American history? Let's take a big-picture tour of the Middle East and try to answer those questions. But first, a request: after each paragraph that follows, could you make sure to add the question “What could possibly go wrong?”

As John Kerry prepares to meet Sergei Lavrov in Vienna, Putin and Assad are drawing up plans to call for elections in Syria. The idea, of course, is that Assad will prevail in a landslide, allowing Moscow to claim that the people have spoken and the regime must rightfully be restored. 

America is not Greece, but judging from the Obama administration's just-unveiled plans to bailout Puerto Rico's disastrous debt situation, the American territory may have to sacrifice a little more sovereignty to get some relief. Obama is pressing for Congress to give Puerto Rico (PR) sweeping powers to reduce its $73 billion debt burden through a form of bankruptcy protection not now available to American territories and will also ask lawmakers to establish an independent body to monitor the island’s fiscal affairs (a la Troika).

"As examples of products that were not made entirely in the US — contrary to their billing — it highlighted a sandwich bag that was produced in Thailand and a toy car that was assembled in the US with some imported parts, including a Chinese steering wheel."

If you believe in and exercise your rights under the Constitution (namely, your right to speak freely, worship freely, associate with like-minded individuals who share your political views, criticize the government, own a weapon, demand a warrant before being questioned or searched, or any other activity viewed as potentially anti-government, racist, bigoted, anarchic or sovereign), you have just been promoted to the top of the government’s terrorism watch list.

History may eventually decide the "New World Order" started on September 28, when Russian President Vladimir Putin and US President Barack Obama had a 90-minute face off at the UN in New York. Irrespective of spin – “productive” according to the White House, “tense” according to a source close to the Kremlin – facts on the ground accumulated almost immediately.

We presume the 'threat' of selling hundreds of billions of dollars of US Treasuries has prompted a softening in the "Currency manipulator" rhetoric from The US Treasuy department. Having previously said the Yuan is "significantly undervalued," today's report shifts the comment to stating that the Yuan is "below appropriate medium-term valuation." Of course, The US Treasury would know exactly how all of the world's currencies should trade in this centrally-planned world.

• Great News: China’s GDP Growth Beats Forecasts as Stimulus Supports Spending (BBG)
• Oh wait, maybe not: China GDP: Deflategate Comes to Beijing (WSJ)
• Actually, definitely not: Shanghai rebar falls to record low after weak China GDP (Reuters)
• But who cares: European Shares Gain on Earnings as Bonds Drop, Metals Decline (BBG)

"Yellen is doing this with the blessing of the President because he doesn’t want to have a recession - or worse- in his administration. I’m a developer, I’m not complaining from my own standpoint, I’m just saying that at some point, you have to raise interest rates, you pay nothing. They are trying to put the recession - and it could be a beauty - into the next administration."