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Badsamm

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Gender: Male
Hometown: California
Home country: USA
Member since: Tue May 20, 2014, 12:09 PM
Number of posts: 14,657

Journal Archives

Seven Reasons the U.S. Shouldn’t Help Ukraine’s Fight With Russia- Newsweek

1) Russia isn’t Serbia, Iraq, Afghanistan or Libya.

While the Obama administration has resisted proposals for military confrontation with Moscow, a gaggle of ivory tower warriors has pushed to arm Ukraine, bring Kiev into NATO and station U.S. men and planes in Ukraine. These steps could lead to war.

Americans have come to expect easy victories. However, Russia would be no pushover. In particular, Moscow has a full range of nuclear weapons, which it could use to respond to allied conventional superiority.

2) Moscow has more at stake than the West in Ukraine.

Ukraine matters far more to Moscow than to Washington. Thus, the former will devote far greater resources and take far greater risks than the allies will. The Putin government already has accepted financial losses, economic isolation, human casualties and political hostility.

3) Alliances should enhance U.S. security, not provide foreign charity.

It’s impossible to blame Ukraine for wanting the West to protect it. But it makes no sense for the allies to do so. Adding Ukraine to NATO would dramatically degrade U.S. security by transforming a minor conflict irrelevant to Washington into a military dispute between America and Russia.

http://www.newsweek.com/seven-reasons-us-shouldnt-help-ukraines-fight-russia-303002

Alexis Tsipras' Open Letter To Germany: What You Were Never Told About Greece

Authored by Alexis Tsipras via .

In 2010, the Greek state ceased to be able to service its debt. Unfortunately, European officials decided to pretend that this problem could be overcome by means of the largest loan in history on condition of fiscal austerity that would, with mathematical precision, shrink the national income from which both new and old loans must be paid. An insolvency problem was thus dealt with as if it were a case of illiquidity.

In other words, Europe adopted the tactics of the least reputable bankers who refuse to acknowledge bad loans, preferring to grant new ones to the insolvent entity so as to pretend that the original loan is performing while extending the bankruptcy into the future. Nothing more than common sense was required to see that the application of the 'extend and pretend' tactic would lead my country to a tragic state. That instead of Greece's stabilization, Europe was creating the circumstances for a self-reinforcing crisis that undermines the foundations of Europe itself.

My party, and I personally, disagreed fiercely with the May 2010 loan agreement not because you, the citizens of Germany, did not give us enough money but because you gave us much, much more than you should have and our government accepted far, far more than it had a right to. Money that would, in any case, neither help the people of Greece (as it was being thrown into the black hole of an unsustainable debt) nor prevent the ballooning of Greek government debt, at great expense to the Greek and German taxpayer.


Full leter here

http://syriza.net.gr/index.php/en/pressroom/253-open-letter-to-the-german-readers-that-which-you-were-never-told-about-greece

Anti-tank missile strikes IDF vehicle on Lebanon-Israel border

The wheels are coming off.

An anti-tank missile has struck an Israeli Defense Forces vehicle in the Har Dov area near the Lebanese border, Israeli media report.

Reports of casualties in the attack have emerged. Four soldiers are dead, according to Al Arabiya sources.

Hezbollah has claimed responsibility for the attack.

Residents in the area have been instructed to stay indoors.

“All residents are asked to return to their homes and to close all doors and windows until further notice,” the IDF’s Home Front Command said in a text message, cited by the Times of Israel.

http://rt.com/news/227007-israel-lebanon-missile-idf/

Seven Consecutive Downward Reivisions To New Home Sales Data Place Serious Doubts On Report Accuracy

[link:|

You will pardon us if we don't "buy" the latest attempt by the Census Department to telegraph housing euphoria with the just reported number of 481K new December home sales, a surge of 11.6% compared to November, an increase which was expected by the consensus to be only 2.7%. In fact, the 481K print is now the "highest" since June of 2008. The reason for our disbelief? Because as we have been tracking for the past 6, and now 7 months, every single such euphoric print since May of 2014 has been revised substantially lower after the fact (and after the headline-scanning algos promptly gobbled up stocks on the initial "beat"), and sure enough, the November print of 438K, was also just "revised" downward to 431K.

The reason for our disbelief? Because as we have been tracking for the past 6, and now 7 months, every single such euphoric print since May of 2014 has been revised substantially lower after the fact (and after the headline-scanning algos promptly gobbled up stocks on the initial "beat"), and sure enough, the November print of 438K, was also just "revised" downward to 431K.

Putting today's "highest in 7 years" new home sales print in context: consider that in May 2014 the same data series was originally reported at 504K... only to be revised to 458K!

In other words, there has now been 7 consecutive downward revision to the New Home Sales data!

http://www.zerohedge.com/news/2015-01-27/seven-consecutive-downward-reivisions-new-home-sales-data-place-serious-doubts-repor

Here We Go: NYSE Invokes Rule 48

The status quo must be maintained...

*NYSE SAYS RULE 48 INVOKED FOR MARKET OPEN
*NYSE SAYS MANDATORY OPENING INDICATIONS ARE NOT REQUIRED
And what better excuse to stall the opening plunge implied by futures than the "blizzard" which never was... The last time this was invoked was June 2012 (amid a dramatic drop in pre-open futures) and Sept 2011 amid the chaotic 400-point swings in The Dow. Funny they do not use this "Rule" when futures indicate massive upside opens?


From the NYSE:

Rule 48. Exemptive Relief — Extreme Market Volatility Condition

(a) In the event that extremely high market volatility is likely to have a Floor-wide impact on the ability of DMMs to arrange for the fair and orderly opening, reopening following a market-wide halt of trading at the Exchange, or closing of trading at the Exchange and that absent relief, the operation of the Exchange is likely to be impaired, a qualified Exchange officer may declare an extreme market volatility condition with respect to trading on or through the facilities of the Exchange.

(b) In the event that an extreme market volatility condition is declared with respect to trading on or through the facilities of the Exchange, a qualified Exchange officer shall be empowered to temporarily suspend at the opening of trading or reopening of trading following a market-wide trading halt: (i) the need for prior Floor Official or prior NYSE Floor operations approval to open or reopen a security at the Exchange (Rules 123D(1) and 79A.30); and/or (ii) applicable requirements to make pre-opening indications in a security (Rules 15 and 123D(1)).

(c) A suspension under section (b) of this Rule is subject to the following provisions:


http://www.zerohedge.com/news/2015-01-27/nyse-invokes-rule-48-pre-empt-selling-panic

Spot The Difference: ISIS Or Saudi Arabia


One is a terrorist organization, the other is America's most revered, oil-exporting ally...


[link:|

Nobody likes to be compared to NAZI's but here you go

Sure seems familiar.

[link:https://m.|

De-Dollarization Complete: Iran Abandons US Dollar In Foreign Trade

Since last May (and likely long before) when the topic of "de-dollarization" was first uttered in official circles (and not just tin-foil-hat-wearing blogs), the rest of the world (un-isolated as they are) has been warming to the idea that perhaps - just perhaps - it is time to de-dollarize (more or less depending on the despotic region in question). From currency swap agreements to bi-lateral trade agreements to selling US Treasuries and greatly rotating USD reserves into gold, the world's nations (small and large) appear less and less comfortable holdings dollars in this tempestuous world. Among the supporters of that first "de-dollarization" meeting were China and Iran and while the former continues to work down its exposure, the latter - Iran, according to Tasnim news agency, has almost entirely eliminated USDollars from its reserves and is no longer using dollars in foreign trade.

[link:|

http://www.zerohedge.com/news/2015-01-24/de-dollarization-complete-iran-abandons-us-dollar-foreign-trade

It's Official: President Obama's SOTU Speeches Are The 'Dumbest' In US History

Are you smarter than a 9th grader? Then you will be quite at home with President Obama's latest State of The Union speech. While the Flesch-Kincaid readability test shows SOTU 'smartness' has been plunging Woodrow Wilson, the collapse has accelerated post-Clinton with President Obama's average SOTO speech tailored to the intellect of a 14-year-old - the lowest on record.

As Vocativ reports,

Vocativ also calculated the average SOTU grade for every president dating back to Woodrow Wilson, when it first became the norm to deliver such speeches before a joint session of Congress. Before Wilson, it was typically presented as a written report. Over the last century, the State of the Union’s sophistication has trended steadily downwards.

[link:|

http://www.zerohedge.com/news/2015-01-21/its-official-president-obamas-sotu-speeches-are-dumbest-us-history

Bill Proposed To Allow Voting Without US Citizenship

Once upon a time, there was a saying "no taxation without representation." Well, in America's transition to an utopia of French or even Venezuelan caliber, for half the population taxation became an anachronism from a bygone era, which in turn meant that representation likewise lost its charm. However, in order to preserve a political system in which the votes of the many are bought with the money of the few or, as the case may be these days, with money printed out of thin air by the Federal Reserve, there was one bureaucratic hurdle: one still needed a US passport in order to vote. However if a newly introduced bill in Washington D.C. passes, one won't even need to be a citizen in order to vote in local elections.

According to the Washington Times, the Local Resident Voting Rights Act of 2015 would allow D.C. residents who are not U.S. citizens but meet the federal definition of having permanent residency status to cast ballots in local elections, including races for mayor and the D.C. Council as well as initiatives and charter referendums. D.C. Council member David Grosso, at-large independent, introduced the legislation Tuesday.

In a statement announcing the introduction of the bill, Mr. Grosso cited statistics from the U.S. Census Bureau that indicate the District is home to nearly 54,000 foreign-born residents who are not naturalized U.S. citizens.

“These are taxpayers who should have the opportunity to have their voices heard in local elections,” he said.

Similar bills were unsuccessfully introduced in 2013 by Mr. Grosso, and in 2004 by then-D.C. Council member Jim Graham.

Neighboring Takoma Park also allows non-U.S. citizens to vote in local elections.

http://www.zerohedge.com/news/2015-01-21/bill-proposed-allow-voting-without-us-citizenship
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