Debt Rattle January 2 2016
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Earl Theisen Walt Disney oiling scale model locomotive at home in LA 1951 • After a Tumultuous 2015, Investors Have Low Expectations for Markets (WSJ)
[See the full post at: Debt Rattle January 2 2016]Doug Noland’s 2015 year end review provides a handy summary of global financial conditions that all here should understand.
“Important pillars of the bull case evaporated throughout 2015. Global price pressures weakened, the global Credit backdrop deteriorated and the global economy decelerated. Indeed, a global bear market commenced yet most remain bullish. Serious and objective analysts would view this ominously.”
https://creditbubblebulletin.blogspot.com/2016/01/weekly-commentary-2015-year-in-review.html
However if somehow 2016 sees anything more than nominal growth in the face of credit barely expanding at all or contracting then the whole of Credit Bubble analysis, which I think it fair to say that AE subscribes to, will suffer a blow.
For those not familiar with Credit Bubble analysis, the archive. https://creditbubblebulletin.blogspot.com/2016/01/weekly-commentary-2015-year-in-review.html
In light of the trampling of Trump by Matt Taibbi (I hope he goes after Clinton with the same vigor), here are two good articles comparing Trump and Clinton. According to this author, the biggest racist between the two of them is The Hillary. Who would have thunk it?
Here’s what Trump said in 2004:
“Look at the war in Iraq and the mess that we’re in. I would never have handled it that way. Does anybody really believe that Iraq is going to be a wonderful democracy where people are going to run down to the voting box and gently put in their ballot and the winner is happily going to step up to lead the county? C’mon. Two minutes after we leave, there’s going to be a revolution, and the meanest, toughest, smartest, most vicious guy will take over.
What was the purpose of this whole thing? Hundreds and hundreds of young people killed. And what about the people coming back with no arms and legs? Not to mention the other side. All those Iraqi kids who’ve been blown to pieces. And it turns out that all of the reasons for the war were blatantly wrong. All this for nothing!”
The author goes on:
“With that statement of 2004 you could not get further from the sentiment expressed by Hillary’s support for the war on Iraq or the proclamation by her close colleague Madeleine Albright that the Clinton sanctions on Iraq which killed hundreds of thousands, five hundred thousand children among them, were “worth it” to overthrow Saddam Hussein! And Hillary herself peddling every neocon war in sight from Iraq to Libya and now Syria. How can the liberals and progressives excoriate Trump but not Clinton as “racist”? And how can they ignore Trump’s words of compassion for those on “the other side”? Those words are unique among the current contenders for the presidency and they ought to earn Trump a sobriquet quite different from “new Hitler” or “racist.” Have the so-called progressives lost touch with reality?”
Hillary just slaughters them, but, oh, I guess it’s nothing personal.
I’d sure like to know the truth about the flood of economic migrants from Turkey. Last week I posted a good article on the people who were profiting from getting the migrants out of the Turkish camps.
https://globaleconomicanalysis.blogspot.ca/2015/12/merkel-enhanced-migration-problem.html
But who were the enablers on the other side? We know that Greece did not protect its border (and I didn’t hear them screaming for help). They just let everyone in. Last year Greece’s Defense Minister Panos Kammenos stated that unless Greece was economically helped, they would allow a flood of migrants into Europe. Blackmail? They were being squeezed, so they squeezed back?
“Greece will unleash a “wave of millions of economic migrants” and jihadists on Europe unless the eurozone backs down on austerity demands, the country’s defence and foreign ministers have threatened. […]
Panos Kammenos, the Greek defence minister, warned that if the eurozone allowed Greece to go bust it would give EU travel papers to illegal immigrants crossing its borders or to the 10,000 currently held in detention centres.
“If they deal a blow to Greece, then they should know the the migrants will get papers to go to Berlin,” he said. “If Europe leaves us in the crisis, we will flood it with migrants, and it will be even worse for Berlin if in that wave of millions of economic migrants there will be some jihadists of the Islamic State too.”
So is this what happened? Screw us and we’ll screw you? As Ilargi earlier said, let them in and let them flood into Europe. Was that a hope to ruin the EU, unwind and eliminate it? What a way to do it – ruining Europe in the process! Perhaps Europe will one day resemble the Middle East – small factions of different peoples, no one strong enough to change anything. A psychopath’s dream, to rule over “gray” countries consisting of “gray” citizens, with no one faction strong enough to revolt. Splendid. That’s the ticket.
And here’s Merkel in July telling a Palestinian girl that “they can’t take everyone”.
“I understand that, however I have to… sometimes politics is hard,” Ms Merkel said.
“You’re a very nice person but you know that there are thousands and thousands of people in Palestinian refugee camps in Lebanon and if say ‘you can all come,’ and ‘you can all come from Africa,’ and ‘you can all come,’ we just can’t manage that.”
And then within a few months it’s “we’ll take everyone”. What happened here? Ilargi posted an article a month or two ago saying that Merkel doesn’t move unless she has permission from two associations (I can’t remember their names, but they were business associations – I’ll find their names). So who parted Merkel’s waters? I’d like to have been a fly on the wall when she got her orders. Such an about-face doesn’t just happen without a good amount of pressure. Who put her straight? Was it Washington or did her instructions come from within Germany?
And then she has the nerve to chastise other countries who don’t want to follow her lead, who actually want to keep the culture they have?
Of course, the answer to all of the above is not to start wars in other countries. Even better, it’s not to draw lines on maps without taking into consideration ethnic ties. Otherwise you end up with what will become of Europe in the future, a hodgepodge of ethnicities.
Turkish MP (Eren Erdem) faces treason charges after saying ISIS used Turkey for transiting sarin gas.
https://www.rt.com/news/327122-syria-sarin-isis-investigation/
Another article I read re this Turkish MP said: Erdem noted that the chemicals used for the production of weapons did not originate from Turkey. “All basic materials are purchased from Europe. Western institutions should question themselves about these relations. Western sources know very well who carried out the sarin gas attack in Syria,” Erdem told RT.
https://www.rt.com/news/326084-erdem-rt-interview-treason/
“As for his accusations about Turkish businessmen being involved in supplying Islamic State (IS, formerly ISIS/ISIL) with the poisonous gas sarin and other reactants needed for chemical warfare, Erdem maintained this statement was made based on the results of a Turkish court investigation in 2013.
Erdem revealed that five Turkish citizens had been arrested by the Adana Chief Prosecutor’s Office as a result of an investigation coded 2013/139. A Syrian national was prosecuted in Turkey for procuring chemical agents for Islamist groups in Syria. At the same time, Erdem noted all the persons arrested within the framework of the 2013/139 investigation were released a week later.”
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