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by Charles Hugh-Smith Fostering illusions of prosperity only further cripples our ability to make the necessary difficult decisions. Have you ever noticed that the decisions made in times of abundance are generally bad? Bad might be too weak a word; catastrophically bad might be more accurate. This causal connection between abundance and flawed decision-making was one of the many stimulating ideas that came up during an afternoon with Aengus Anderson, host of the excellent [...] Breaking News: Eight missiles fired from Syria land in #Lebanon: Al Arabiya correspondent https://twitter.com/AlArabiya_Eng @OmarJaabari 2m Situation deteriorating in #Lebanon. 8 missiles have just hit #Baalbeck. https://twitter.com/RicardoRKaram Al-Manar TV is reporting that 1 rocket landed near a civilian vehicle in Baalbek, wounding two people. #Baalbek update: Local sources now say 18 rockets have fallen on the town, number [...] Here Come The Trade Wars: Europe Imposes Duties On China The European Union is set to announce anti-dumping levies on Chinese solar panels, an official said Tuesday, in a move that could trigger a trade war between two of the world’s largest economies. http://www.indyinasia.com/2013/06/here-come-the-trade-wars-europe-imposes-duties-on-china-solar-panels/ Trade war: Barroso disgraced Merkel as EU agrees sanctions on China http://deutsche-wirtschafts-nachrichten.de/2013/06/04/barroso-blamiert-merkel-eu-beschliesst-strafzoelle-gegen-china/ http://translate.google.de/translate?sl=de&tl=en&js=n&prev=_t&hl=de&ie=UTF-8&eotf=1&u=http://deutsche-wirtschafts-nachrichten.de/2013/06/04/barroso-blamiert-merkel-eu-beschliesst-strafzoelle-gegen-china/ Trade Wars: The Chinese Empire Strikes Back “We reported yesterday that Europe, in a surprising escalation of global trade wars, [...] RUSSIA-NAVY-MEDITERRANEAN Moscow, May 20 (Interfax-AVN) – The Nikolai Filchenkov and the Azov large landing ships of the Russian Black Sea Fleet have begun a Mediterranean mission in the planned rotation of the inter-fleet group, fleet spokesman and Captain 1st Rank Vyacheslav Trukhachev told Interfax-AVN on Monday. http://www.interfax.co.uk/ukraine-news/two-large-landing-ships-of-russian-black-sea-fleet-join-mediterranean-force-2/ Alligator-class landing ship http://en.wikipedia.org/wiki/Alligator_class_landing_ship A few days when reporting that the Russian Pacific fleet had crossed the Suez canal for the first time in decades in order to form a [...] More than six months since the Japanese nationalistic escalation over the disputed island chain (that shall not be named) in the East China Sea sent Sino-Japanese foreign relations to a level not seen since a particular territorial dispute over Manchuria, tensions just hit a fever pitch overnight, when an armada of eight Chinese ships entered what Japan claimed were its territorial waters.
China’s version of the story is that the vessels were there [...] Vladimir Putin has said a war in Korea could be more devastating than the Chernobyl disaster as Pyongyang was warned against another nuclear test. The Russian President said he was “worried about the escalation on the Korean peninsula, because we are neighbours”. And Mr Putin, who also praised a US decision to postpone a planned missile test as part of efforts to reduce tensions, said he feared a situation worse than that [...] An analyst says China recognizes that the US is using North Korea’s belligerence to build up its military presence as a direct nuclear threat against China. In the background of this there has been frightening escalation of rhetoric and threats from both North Korea and the US in the Korean peninsula. The US military build up in the area includes a chemical weapons battalion sent to South Korea and B-2 nuclear [...] North Korea’s leader has told rocket units to be on standby for an attack on US bases, according to state media. The country’s KCNA news agency said Kim Jong-Un had signed off on the order to train sights on American bases in South Korea and the Pacific after a midnight meeting with top generals. It comes after two American stealth bombers flew over South Korea in a show of force to Pyongyang, following [...] dirt: Japan Brings Food Inflation Down To ‘Earth’ Whether it is a reflection of the inflated price of regular edibles thanks to Abe’s Yen devaluation escapades, or simply more evidence of the greater fool theory playing out among a mesmerized world, the latest gourmet eating experience in Japan highlights the human ability to follow a herd in spite of all common sense. As CBS reports in this somewhat remarkably not The Onion clip, [...] China To Japan: Hand Over The Senkakus Or Your Economy Gets It Chinese Foreign Minister Yang Jiechi said Saturday that “Japan needs to face up to reality, and take real steps to correct its mistakes… so as to prevent a further escalation,” with regard the demand that Japan reverse its nationalization of the small islet chain of the Senkakus. In some of the strongest rhetoric yet, The Japan Times reports that [...] Kim Jong-un addressed troops facing Yeonpyeong island, which North Korean artillery shelled in 2010, killing four people and injuring 19. Kim Jong-un addressed troops in coastal positions facing Yeonpyeong island, which North Korean artillery shelled in 2010, killing four people [...] ITS ODD TO ME THAT THE G20 MEETINGS IN MOSCOW ARE TO TONE DOWN THE BIG CURRENCY POWER HOUSE.. MAYBE THAT WAS A WARNING
Finance Minister Jim Flaherty says leaders of the advanced economies should tone down their words when it comes to competitive currency devaluation. “I am concerned with the escalation of ‘currency war’ rhetoric,” Flaherty told G20 finance ministers meeting in Moscow Friday, saying it added to the “uncertainty that [...] from Zerohedge: As ZD reports, last night Anonymous once again hacked a .gov site, this time the Alabama Criminal Justice Information Center (ACJIC). But it was not the site hacked that was material, but rather what was posted on it. What was posted is an extended data dump sheet, titled “oops we did it again” which lists some 4,606 rows of confidential credential data including titles, names, addresses, emails, phone numbers, logins, [...] Come on Obama. Make me happy for a change! Bomb them facilities!!! https://twitter.com/AlArabiya_Eng Tehran tells UN nuclear watchdog it will install, operate advanced centrifuges to Natanz enrichment plant. Nuclear expert: Most unfortunate game changer http://www.ynetnews.com/articles/0,7340,L-4339622,00.html US chides Iran on plan to speed up nuclear fuel work http://www.ynetnews.com/articles/1,7340,L-4339713,00.html
Dixie Normous With the market still hopeful of some deus ex resolution to the Fiscal Cliff will take place in the last few trading sessions of the year (one where the market itself will not have to be the catalyst for such a resolution, because once the selling starts in earnest, who knows if and when it stops, hence the loading up on prodigious amounts of puts), here is Iran out of [...] from Zerohedge: In the least unexpected news of the week, Mayor Mike, whose forays into central planning started with banning sugary sodas, and then proceeded to gas rationing, has just done what everyone expected him to do, and demand a ban on all assault weapons: MAYOR BLOOMBERG CALLS FOR ENFORCEABLE ASSAULT WEAPONS BAN from Zerohedge: Now that is a rattling sabre. While markets for now are seemingly shrugging off this ‘fly-by’, we suspect the people of Okinawa were more than a little surprised: NORTH KOREA LAUNCHED ROCKET AT 9:51 AM LOCAL TIME: YONHAP RT.com The Pentagon’s spy agency is to be reformed into a military sibling of the CIA with 1,600 clandestine operatives collecting intelligence overseas five years from now. The civilian spies will train and oversee them. The prime targets for the overhauled Defense Intelligence Agency (DIA) would be Chinese military, Iranian and North Korean arms transfers, and Islamist militant groups in Africa, reports The Washington Post, citing a number of officials. [...] Sara Sidner, Arwa Damon and Chelsea J. Carter Warplanes, drones and rockets criss-crossed the sky over Gaza for the sixth day Monday as Israel pressed its air offensive against Gaza militants. Hamas leader Khaled Meshaal vowed continued resistance against what he called a “criminal enemy.” “We do not want escalation nor do we call for a ground war,” he told reporters at a news conference. “But we are not afraid [...] SAN FRANCISCO (AP) — San Francisco may be getting ready to shed its image as a city where anything goes, including clothing. City lawmakers are scheduled to vote Tuesday on an ordinance that would prohibit nudity in most public places, a blanket ban that represents an escalation of a two-year tiff between a devoted group of men who strut their stuff through the city’s famously gay Castro District and the supervisor [...] from Zerohedge: Update: the following tweet from Israel’s ambassador to the US, Michael Oren, will hardly help:“ALERT: Tel Aviv area was just hit by a rocket attack from #Gaza” Despite having lost its prominent headline position in the global media, the things in Gaza are going from bad to worse with news reports that Israeli ground forces are preparing to enter the Gaza Strip which will take the confrontation to an effective ground war level, even [...] Air raid sirens sound in Tel Aviv, explosions heard – witnesses https://twitter.com/Reuters
Two booms heard in Tel Aviv following warning siren Three Israelis killed in Kiryat Malachi; rocket falls in Eshkol wounding 3 IDF soldiers as rockets continue to fall on South; IAF strikes nearly 200 targets in Strip; 15 Palestinians killed in strikes. Two booms were head in Tel Aviv following an air raid siren Thursday evening, just an hour after rocket from [...]  BREAKING: It has been reported that Egyptian tanks backed By commandos are moving into the Sinai desert in order to fortify positions in the case of an all out war between Israel and Gaza after an Israeli operation killed the head of the military wing of the Islamist group Hamas in a missile strike on the Gaza Strip on Wednesday and launched a campaign of air strikes on the enclave. The [...] Infowars: Defense Secretary Leon Panetta said on Saturday that the conflict on the border between Syria and Turkey may spread to neighboring countries and create a regional war. Turkey continued shelling of Syrian targets on Sunday in what Al Arabiya describes as immediate retaliation after a mortar round allegedly fired from Syria hit the southeastern Turkish border village of Akcakale where five civilians were killed last week. Akcakale is a key supply [...] via google translate: A dramatic escalation of the situation in States with EU crisis impact on the security of Switzerland: In this scenario, prepare the Swiss Army, as shown by research conducted by the newspaper “The Sunday”. Defence Minister Ueli Maurer says. “I conclude not that we do in the coming years need the army ‘For the European countries renewed their armies under pressure to save not, they could no longer afford [...] Another bomb RTRS – TURKISH MILITARY RETURNS FIRE AFTER MORTAR BOMB FROM SYRIA LANDS IN FARMLAND IN TURKEY’S HATAY PROVINCE – STATE NEWS http://www.twitter.com/zerohedge
Turkey is reinforcing its position in the Mediterranean Sea following the escalation in tension along its border with Syria. A number of warships and submarines have been sent to bases in the Mediterranean from the northwestern province of Gölcük where the main base of the Naval Forces is located. [...] Turkey fired on Syrian targets for the second day Thursday after a shell fired from inside Syria killed five civilians and wounded at least 10 others in a Turkish border town, The Associated Press reports.
And Turkey’s parliament passed a mandate during an emergency session that authorizes its military to send troops into Syria or for warplanes to strike Syrian targets whenever it deems it necessary, The Times of Israel reports. The bill does not constitute a declaration [...] From IBTimes: The worldwide currency debasement war has now entered a new and more deadly phase. Central banks have escalated the combat plan to bring about the world’s weakest currency for their individual countries. On the heels of the Federal Reserve and European Central Bank’s promises of unlimited counterfeiting forever, the Bank of Japan announced last week that it would expand its purchase of Japanese Government Bonds (and other assets including equities) [...] |
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