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Ruble Takedown Exposes Cracks In Putin’s Defense

December 20, 2014

Putin’s Next Move Is Crucial… The plunge of the Russian currency this week is the drastic outcome of policies implemented by the major imperialist powers to force Russia to submit to American and European imperialism’s neo-colonial restructuring of Eurasia. Punishing the Putin regime’s interference with their plans for regime change in countries such as Ukraine and Syria, the NATO powers are financially strangling Russia.” Alex Lantier, Imperialism and the ruble crisis, WSWS “The struggle for world domination... Read article

The Oil Coup

December 20, 2014

US-Saudi Subterfuge Send Stocks and Credit Reeling… U.S. powerbrokers have put the country at risk of another financial crisis to intensify their economic war on Moscow and to move ahead with their plan to “pivot to Asia”. Here’s what’s happening: Washington has persuaded the Saudis to flood the market with oil to push down prices, decimate Russia’s economy, and reduce Moscow’s resistance to further NATO encirclement and the spreading of US military bases across Central Asia. The US-Saudi scheme has slashed... Read article

Will Falling Oil Prices Crash The Markets?

December 14, 2014

Shale Leads The Way… Crude oil prices dipped lower on Wednesday pushing down yields on US Treasuries and sending stocks down sharply. The 30-year UST slipped to a Depression era 2.83 percent while all three major US indices plunged into the red. The Dow Jones Industrial Average (DJIA) led the retreat losing a hefty 268 points before the session ended. The proximate cause of Wednesday’s bloodbath was news that OPEC had reduced its estimate of how much oil it would need to produce in 2015 to meet weakening global... Read article

Talking Turkey

December 6, 2014

Putin Gobsmacks Obama and Euro-Leaders with Surprise Gas Deal… On Monday, Russian President Vladimir Putin clinched a groundbreaking deal with Turkish President Recep Tayyip Erdoğan that will strengthen economic ties between the two nations and make Turkey the major hub for Russian gas in the region. Under the terms of the agreement, Russia will pump additional natural gas to locations in central Turkey and to a “hub at the Turkish-Greek border” which will eventually provide Putin with backdoor access... Read article

Defending Dollar Imperialism

December 6, 2014

Ukraine War Driven by Gas-Dollar Link… “The Fed’s ‘need’ to take on an even more active role as foreigners further slow the purchases of our paper is to put the pedal to the metal on the currency debasement race now being run in the developed world — a race which is speeding us all toward the end of the present currency regime.” Stephanie Pomboy, MacroMavens “No matter what our Western counterparts tell us, we can see what’s going on. NATO is blatantly building up its forces in Eastern Europe, including... Read article

Trotsky At The IMF

November 27, 2014

Does the Name “Strauss-Kahn” Ring a Bell? The International Monetary Fund has finally admitted that it was wrong to recommend austerity as early as it did in 2010-2011. The IMF now agrees that it should have waited until the US and EU economies were on a sustainable growth-path before advising them to trim their budget deficits and reduce public spending.  According to a report issued by the IMF’s research division, the Independent Evaluation Office (IEO):  “IMF advocacy of fiscal consolidation proved... Read article

Anti-Putin Propaganda Not Working

November 27, 2014

Anyone who follows the news regularly, knows that the media has done everything in its power to smear Vladimir Putin and to demonize him as a tyrant and a thug. Fortunately, most people aren’t buying it. Yes, I’ve seen the polls that say that Putin and Russia are viewed “less favorably” than they were prior to the crisis in Ukraine. In fact, here’s a clip from a recent PEW survey which seems to prove that I’m wrong: “Across the 44 countries surveyed, a median percentage of 43% have unfavorable opinions of... Read article

Subprime Loans And Auto Sales: Debt On Wheels

November 8, 2014

“It’s not the underlying economics that’s driving things, it’s central bank liquidity.” — Matt King, Citigroup Soaring auto sales are not so much a sign of a strong economy as they are an indication of financial hanky-panky. We saw this same type of fakery play out in housing between 2004 – 2006, when prices went through the roof due to a mortgage-lending scam (“subprime”) that crashed the stock market and sent the economy reeling. Now the bigtime money guys are at it again, writing up auto loans... Read article

The American Dream, Gone

November 8, 2014

15 Reasons Why Americans Think We’re Still in a Recession… 1: Wage Stagnation:  Why America’s Workers Need Faster Wage Growth—And What We Can Do About It, Elise Gould, EPI Economic Policy Institute: “The hourly compensation of a typical worker grew in tandem with productivity from 1948-1973. …. After 1973, productivity grew strongly, especially after 1995, while the typical worker’s compensation was relatively stagnant. This divergence of pay and productivity has meant that many workers were not benefitting... Read article

Risky Business “Easy Money”

November 1, 2014

Here we go again. Last week, the country’s biggest mortgage lenders scored a couple of key victories that will allow them to ease lending standards, crank out more toxic assets, and inflate another housing bubble.  Here’s what’s going on. On Monday,  the head of the Federal Housing Finance Agency (FHFA), Mel Watt, announced that Fannie and Freddie would slash the minimum down-payment requirement on mortgages from 5 percent to 3 percent while making loans more available to people with spotty credit. If this all... Read article

The Fix Is In: Fed Stops Stock Slide With Talk of QE Extension

October 25, 2014

Unbelievable. On Wednesday, stocks were hammered after economic data showed that the US and global economies were headed for a major slowdown. By mid-day, the Dow was down 460 points before clawing its way back to minus 173 points. It looked like the market was set for another triple-digit flogging on Thursday when the Fed stepped in and started talking-up an extension to QE3. That’s all it took to ease investors jitters, stop the meltdown and send equities rocketing back into space. By the end of Friday’s session,... Read article

Stocks Plunge 460 Points On QE Exit

October 17, 2014

“Financial markets are faced with uncertainty that isn’t going away. The slowdown in Europe is probably in the early innings, the Fed hasn’t begun to raise interest rates, and geopolitical crises seem to pop up by the day.” Jeff Cox, Finance editor, CNBC Six years of zero rates and trillions of dollars of asset purchases couldn’t stop stocks from falling sharply on Wednesday. All three major indices moved deep into the red, with the Dow Jones leading the pack, dropping an eye-watering 460 points before rebounding... Read article

Has Obama Changed His Mind About Syria?

October 11, 2014

The ISIS siege of Kobane continued overnight while cities across Turkey were set ablaze by Kurdish protestors. At least 19 civilians were killed by Turkish riot police who were trying to disperse angry crowds that had gathered to protest the government’s unwillingness to defend the predominantly Kurdish city.  According to Hurriyet, “The worst violence was seen in Diyarbakır during a reported gunfight between the Kurdistan Workers Party (PKK) supporters and Hizbullah, a radical Islamist group whose members are mostly... Read article

America’s “Terrorist Academy” In Iraq Produced ISIS Leaders

October 11, 2014

The University of Al-Qaeda? “Since 2003, Anglo-American power has secretly and openly coordinated direct and indirect support for Islamist terrorist groups linked to al-Qaeda across the Middle East and North Africa. This ill-conceived patchwork geostrategy is a legacy of the persistent influence of neoconservative ideology, motivated by longstanding but often contradictory ambitions to dominate regional oil resources, defend an expansionist Israel, and in pursuit of these, re-draw the map of the Middle East.” Nafeez... Read article

Obama Declares War On Syria

September 13, 2014

Why the Real Target is Assad Not ISIS… Invoking the same ominous language as his predecessor, Barack Obama used a prime time presidential address on Wednesday to announce the beginning of a war on Syria. And while there’s no doubt that many Americans will be confused by Obama’s misleading focus on the terrorist organization named ISIL, the real purpose of the speech was to garner support for another decade of homicidal conflicts in the Middle East. The administration is as determined as ever to plunge the region... Read article

Uncle Sam Does Ukraine

September 13, 2014

U.S. Meddling Dims Prospects for Peace… “It’s Uncle Sam who’s pushing us into this slaughter. And let’s be frank, many politicians in Ukraine are just following his orders.” – Belarusian President Alexander Lukashenko The Minsk Ceasefire Protocol has very little chance of succeeding. In fact, the meeting between the warring parties was not convened to stop the violence as much as it was to buy time for the Armed Forces of Ukraine (AFU) to retreat and regroup. In the last two weeks, the junta’s army... Read article

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