Tag Archives: History Repeating

Oppose the War: Send Congress a History Lesson

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“Saddam Hussein warred against his neighbors with our approval, and murdered his own people using weapons we gave him. But the chain of connections goes deeper into history.   We supported Iraq against Iran because Iran had seized our embassy in 1980. But the CIA had used that same Embassy in 1953 to overthrow a democratic government in favor of the dictatorial Shah.  Can you begin to see how every intervention leads to future enemies?  It will be the same with ISIS.  But let’s continue digging through the history…  We overthrew Iran’s government, because we didn’t want the Soviet Union to take over. But the Soviet Union was yet another enemy we had created.”

https://secure.downsizedc.org/blog/oppose-the-war-send-congress-a-history-lesson

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Obama Says U.S. Will Bomb ISIS in Syria, Train Rebels

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“President Barack Obama said Wednesday that he will expand the U.S. air campaign against the Islamic State of Iraq and Greater Syria (ISIS), lifting restrictions on American strikes in Iraq and for the first time authorizing direct attacks against the militant group in Syria. Obama, who was elected to end two wars, found himself announcing an open-ended campaign against ISIS, as American public opinion has shifted in favor of strikes against the group following the beheading of two American journalists. American officials have repeatedly said they are not aware of any active plots by ISIS against the U.S. homeland.”

http://time.com/3319658/obama-isis-speech-iraq-syria/

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Ron Paul: Nixon’s Vindication

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“Forty years ago many Americans celebrated the demise of the imperial presidency with the resignation of Richard Nixon. Today it is clear they celebrated too soon. Nixon’s view of presidential powers, summed up in his infamous statement that, ‘when the president does it that means it is not illegal,’ is embraced by the majority of the political class.Nixon’s abuse of federal power to spy on his ‘enemies’ was abhorrent, but Nixon’s abuses of civil liberties pale in comparison to those of his successors. Today literally anyone in the world can be spied on, indefinitely detained, or placed on a presidential ‘kill list’ based on nothing more than a presidential order.”

http://www.thedailybell.com/editorials/35631/Ron-Paul-Nixons-Vindication/

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Bill Bonner: Can This Simple Trading System “Beat the Market”?

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“Large-cap US stocks, for example, tend to trade between 10 times earnings and 20 times earnings. Occasionally, they are more expensive. Sometimes they are less.  When they are more than 20 times earnings, buyers typically have a hypothesis that justifies the higher prices. ‘This time it is different,’ the sentence begins, followed by ‘because…’  We can never know that this hypothesis is true. We may know from experience that similar hypotheses have been proven false. But we can’t be sure that this one will be disproven too.  But as the price of stocks rise, the potential reward for betting against the extraordinary new hypothesis goes up.”

http://bonnerandpartners.com/can-simple-trading-system-beat-market/

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The Last Time This Indicator Flashed Red Was in 1987

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“One widely watched sentiment indicator is the weekly US Advisors’ Sentiment Report, published by Investors Intelligence.  It looks at more than a hundred independent newsletters and assesses each author’s stance on the market: bullish, bearish or correction.   The norm is about 35% bears. But as you can see from the chart below, the number of bears just came in at only 13.3% – the lowest level since February 1987.  It’s another sign that US stocks are becoming a worryingly crowded trade.  If you look, for example, at all the times the bears dropped below 14% going back to the 1970s, you’ll see that the following average 12-month returns for the S&P 500 were just 0.7%.”

http://bonnerandpartners.com/last-time-indicator-flashed-red-1987-sentiment/

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Iraq Is Not A Nation And You Can’t Build One There With Bombs

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“They left behind $25 billion in military training and state-of-the-art warfare equipment, but neither a dictator nor a nation. Indeed, under the latter heading they had endeavored to build a nation where there had been none, but ended up liquidating the machinery—–the Republican Guards and the Baathist political party—that in the most recent era had enforced co-existence with machine guns and poison gas canisters.  Foolishly claiming America’s job was done at the end of 2011 when the last GIs boarded transports out of Baghdad,  Barack Obama was actually opening the gates of hell without a clue as to the furies that would soon come swarming through.”

http://davidstockmanscontracorner.com/memo-to-washington-iraq-is-not-a-nation-and-you-cant-build-it/

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EU’s Juncker calls for 300 bn euro investment programme

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“Designated European Commission President Jean-Claude Juncker called on Tuesday for a 300 billion euro ($409 billion) public-private investment programme to revive the European economy, create jobs for the young and stimulate growth over the next three years.  The money should be mobilised from existing budget resources, the European Investment Bank and the private sector, he said.  ‘We need a reindustrialisation of Europe,’ the former Luxembourg prime minister said, promising a work programme in February 2015 for investments in energy, transport and broadband networks and industry clusters.”

http://www.reuters.com/article/2014/07/15/eu-commission-juncker-idUSB5N0N102R20140715

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Supposed Ruin in Hong Kong Leaves Out the Larger Picture

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“What’s going on in China and Hong Kong is ironic because it seems to mimic much that has held the West back in modern times. In fact, much that China suffers from at its current level of development corresponds to a similar evolution in the West.  From what we can tell, the RMB/Yuan is growing in importance as a currency in Hong Kong. Additionally, Hong Kong’s stock market is now heavily dependent on Chinese-listed companies. In fact, this might explain some of the growing income disparities that the Bloomberg article complains about.  Bloomberg seeks to blame an authoritarian Chinese political influence for what is happening to Hong Kong. But the truth is more complex.”

http://www.thedailybell.com/news-analysis/35613/Bloomberg-Reports-on-Ruin-in-Hong-Kong-But-Leaves-Out-the-Larger-Picture/

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John Hussman: Yes, This Is An Equity Bubble

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“Make no mistake – this is an equity bubble, and a highly advanced one. On the most historically reliable measures, it is easily beyond 1972 and 1987, beyond 1929 and 2007, and is now within about 15% of the 2000 extreme. The main difference between the current episode and that of 2000 is that the 2000 bubble was strikingly obvious in technology, whereas the present one is diffused across all sectors in a way that makes valuations for most stocks actually worse than in 2000. The median price/revenue ratio of S&P 500 components is already far above the 2000 level, and the average across S&P 500 components is nearly the same as in 2000.”

http://www.hussmanfunds.com/wmc/wmc140728.htm

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African Bank rescue rekindles bailout fears

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“South Africa’s decision to rescue a small lender seen as neither ‘too big’ nor ‘too interconnected’ to fail shows that taxpayers worldwide may have to accept that bank bailouts are here to stay.  When South Africa’s central bank recently announced a $700 million (520 million euro) rescue of faltering African Bank Investments Limited, it scarcely made a splash outside the country.  The bank’s managers made far too many bad loans to too many South Africans who could not afford to pay them back.  Because it had not asked borrowers to put up their car or any other asset as collateral, it was left with a massive hole in its balance sheet when they failed to pay.”

http://www.moneyweb.co.za/moneyweb-financial/african-bank-rescue-rekindles-bailout-fears

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