Tag Archives: History Repeating

The Troubled Greek Bailout Process Lurches Forward

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“On July 13, Athens reached a deal with its creditors to begin negotiations for a third bailout for the country, only a few days after Greeks voted against austerity in a referendum. Then, early on July 16, the Greek Parliament approved a list of painful reforms, including spending cuts on pensions and higher taxes. The vote was extremely controversial, both inside Parliament and out. Though the austerity measures were approved, 32 lawmakers from the ruling Coalition of the Radical Left party, known commonly as Syriza, voted against the reforms, whole another six party members abstained.  Outside Parliament, Athens saw its most violent protests of the year.”

https://www.stratfor.com/analysis/troubled-greek-bailout-process-lurches-forward

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The One Lesson to Learn Before a Market Crash

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“The media incorrectly suggests that the collapse of the market in 2008 began with the Lehman bankruptcy on September 15. The fact is that the market fully recovered to even higher levels the following week as the government banned short selling of financial stocks (much like China is doing more broadly at present). Weeks later, in a wicked case of ‘sell the news,’ the actual collapse started literally 15 seconds after the TARP bailout was passed by Congress. Investors want to tie market outcomes to very specific events or catalysts. But history suggests a different lesson: once extreme valuations are joined by a shift toward risk-aversion among investors, the specific events become irrelevant.”

http://www.hussmanfunds.com/wmc/wmc150713.htm

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Lindsey Graham: Send 20,000 Troops to Iraq, Syria to Defeat ISIS

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“GOP presidential candidate and South Carolina Sen. Lindsey Graham has called for sending 20,000 troops to Iraq and Syria to defeat the Islamic State.  Graham believes the administration should increase the number of military advisers in Iraq from 3,500 to 10,000 to include special operations forces to help the Iraqi military on the front lines and improve the accuracy of airstrikes.  He said that a similar number of troops should be sent to Syria to assist regional forces and combat the Islamic State (ISIS). He reserved particular criticism for Hillary Clinton and Sen. Rand Paul of Kentucky, both of whom have suggested that the United States could avoid deploying troops to the region.”

http://www.newsmax.com/Newsfront/lindsey-graham-isis-ground-troops-special-forces/2015/07/09/id/654161/

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Obama orders more troops to Iraq to guide fight against Islamic State

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“U.S. officials hope that a strengthened American presence on the ground in Anbar will help the Iraqi military devise and carry out a counter-attack to retake the provincial capital Ramadi, which insurgents seized last month in an onslaught that further exposed the shortcomings of the Iraqi army.  The U.S. advisers, who will be injected into the heart of one of the most hotly contested areas of the Islamic State campaign, will offer tactical advice to Iraqi officers on how to conduct their operations, the Pentagon said.   Obama also ordered ‘the expedited delivery of essential equipment and materiel’ to Iraqi forces, including Kurdish peshmerga troops and Sunni fighters operating under Iraqi command.”

http://www.reuters.com/article/2015/06/10/us-mideast-crisis-iraq-usa-idUSKBN0OP1YD20150610

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U.S. House defeats bid to withdraw troops from Iraq

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“The House voted 288-139 to defeat the concurrent resolution, which would have required Obama to remove the troops within 30 days, or by the end of 2015 if the administration determined it was not safe to do so within the 30-day timeframe.  The ‘yes’ votes were cast by 120 Democrats and 19 Republicans, while the ‘no’s’ came from 222 Republicans and 66 Democrats.  The lawmakers said they hoped their introduction of the measure, allowed under the War Powers Authority, would lead to a broader debate on a formal authorization for the use of military force for the campaign against Islamic State fighters in Iraq and Syria.”

http://www.reuters.com/article/2015/06/17/us-mideast-crisis-congress-idUSKBN0OX2N520150617

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Policymakers Call for Division, Destruction and Occupation of Syria

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“The signed and dated open-conspiracy to divide, destroy, then incrementally occupy a sovereign nation thousands of miles from America’s shores serves as a sobering example of how dangerous and enduring modern imperialism is. The document openly admits that the US has provided billions in arming and training militants fed into the devastating and increasingly regional conflict. It admits that the US maintains – and should expand – operations in Jordan and NATO-member Turkey to provide even more weapons, cash, and fighters to the already catastrophic conflict. It then recounts the rise of ISIS, but fails to account from where its money, cash, and weapons came.”

http://www.globalresearch.ca/us-to-begin-the-invasion-of-syria-washington-policymakers-call-for-the-division-destruction-and-military-occupation-of-syria/5458628

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Pentagon Paying ISIS-Linked ‘Rebels’ $400 per Month to ‘Eventually’ Fight Assad

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“The Pentagon announced Monday that it has begun paying ‘moderate’ Syrian rebels up to $400 per month to fight ISIS and eventually the Syrian government.  The program, deemed ‘critical’ by Secretary of Defense Ashton Carter, aims to equip as many as 5,400 fighters within the next 12 months, reports USA Today.  According to Pentagon spokeswoman Elissa Smith, roughly 6,000 Syrians have already expressed interest in the program, with more than half preparing to be vetted. Recently declassified Pentagon documents confirm Western governments’ regional support of al-Qaeda, a terrorist organization now deceptively labeled ‘moderate.'”

http://www.infowars.com/pentagon-paying-syrian-rebels-400-per-month-to-eventually-fight-assad/

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Risky Loans Shunned by Banks Are Booming in Wall Street’s Shadow

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“Regulators’ efforts to rein in Wall Street’s biggest banks are in danger of backfiring.  Guidelines aimed at strengthening lending standards are shifting the market for high-yield credit to less-supervised loan funds, raising alarm this week from the Financial Stability Oversight Council. Because the funds don’t have depositors, some of their money comes from Wall Street banks, leaving systemically important institutions exposed to risks regulators hoped to avoid.  BDCs and private credit funds [are called] ‘Dodd-Frank banks’ because they’ve grown in the wake of the 2010 Dodd-Frank Act’s heightened supervisory scrutiny of regulated lenders.”

http://www.bloomberg.com/news/articles/2015-05-22/wall-street-flouts-fed-standards-to-fund-high-risk-loans

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The End Game, or Just a Pause?

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“In true dramatic fashion, the Greek government submitted an 11th-hour proposal late yesterday that meets most creditor demands, in exchange for a new 53.5 billion euro bailout … Greece’s third since 2011.  In fact, details of the proposal, including spending cuts, pension reform and tax hikes, are nearly identical to the offer made by European creditors way back on June 26, which was summarily rejected by the Greek government, and then by voters in a July 5 referendum.  Hmm … the more things change, the more they stay the same.”

http://www.moneyandmarkets.com/end-game-just-pause-72130

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China Shows How to Destroy a Market

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“The strongest collapse in U.S. equities took place after the SEC banned short selling in September 2008.  Consider the long buyer in a market selloff: They are catching the falling knife or anvil. They risk being early, and the trade is a money loser. Short sellers suffer no such disadvantage. Indeed, it is not much of a stretch to suggest that every short sale is a future buy.  How ineffective are prohibitions of short-selling? Recall the ban in the 1930s — despite that, the Dow eventually fell 80 percent from its highs. When the A-share market reopens in 2016, a bigger question will remain: Why would anyone want to invest in a market where you might not ever be able to sell?”

http://www.bloombergview.com/articles/2015-07-09/china-shows-how-to-destroy-a-market

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