Just in case you needed another reason to fear for the worst in Alberta, Moody’s and DBRS are becoming increasingly concerned about crown corporation ATB Financial. “Alberta's debt situation was under the microscope last week, with [the] two rating agencies taking a look at the province's fiscal situation and economy and not liking what they saw,” CBC reports.
When Sunday’s Democratic presidential debate turned to world affairs, the NBC correspondents and both Sen. Sanders and ex-Secretary Clinton fell in line behind "group thinks" about Syria, Iran and Russia that lack evidentiary support. The two possibilities for such behavior are both scary: either these people, including prospective presidents, believe the propaganda or that they are so cynical and cowardly that they won’t demand proof of serious charges that could lead the United States and the world into more war and devastation.
The world is now in recession at best and maybe flirting with a global depression. This means politicians will do what is best for their national political future and the consequences for the national economy, citizens or business future is of little consequence to them. This also suggests that global alliances will mean little when domestic national politicians are fighting for survival. Here is how the chess matches have turned out so far in the Putin/Obama competition.
“Overall I think the United States is very aware of the danger of Iran’s mischief and nefarious activities… I don’t believe the United States is under any illusion as to what type of government Iran is.”
If you were wondering how much US debt Saudi Arabia holds, you're out of luck because as it turns out, that's a state secret protected by a decades old "unusual Treasury blackout." “It’s mind-boggling they haven’t undone it. The Treasury didn’t want to offend OPEC [but] it’s hard to justify this special treatment at this point.”
The World Economic Forum in Davos is submerged by a tsunami of denials, and even non-denial denials, stating there won’t be a follow-up to the Crash of 2008. Yet there will be. And the stage is already set for it.
"We're looking for opportunities to do more, and there will be boots on the ground — I want to be clear about that — but it's a strategic question, whether you are enabling local forces to take and hold, rather than trying to substitute for them."
With all eyes on the overnight spike in crude oil prices (up 5% and back over $30, this must be the bottom right?), OPEC remains far from impressed with its basket price hovering at (or near) record low levels at $22.48. In fact, the collapse of the OPEC basket price in the last 3 weeks has been the fastest drop since October 2008. However, no matter the chaos occurring various oil instruments (OIL 40% premium to NAV), Citi has decided this is it and dubbed being long oil from here "the trade of the year."