Thursday, October 13, 2016

Today's Links

1--Stocks skittled by weak China data, strong dollar

2--RAF ordered to shoot down Russian jets over Syria

3--Two Women Say Donald Trump Touched Them Inappropriately

4--Four women accuse Trump of forcibly groping, kissing them

Hillary digs up abused women to divert focus on damning emails

5--Stocks Fall on Downbeat Earnings

Companies in the S&P 500 are expected to report an earnings decline for the sixth consecutive quarter, according to analysts polled by FactSet. As recently as June, analysts had estimated corporate-earnings growth would return to positive territory for the third quarter

6--A Trans-Atlantic Revolt Against Central Bankers-- Conservative leaders in the U.S. and Britain are standing up for those left behind by ultralow rates.

WSJ admits central bank policy only benefits the rich

The International Monetary Fund last week sharply lowered its growth forecasts for the United States and other advanced economies. Only three months ago, in July, the IMF was predicting U.S. growth of 2.2% this year. But in the October edition of its World Economic Outlook report, that figure has been cut to 1.6%. The report’s authors blame “political discontent” and policy uncertainty for the deteriorating prognosis—in other words, they’re worried about Donald Trump....

IMF chief economist Maurice Obstfeld recently told the press, the problem has to do with the political consequences of sluggish economic performance. “In short, growth has been too low for too long,” he said, “and in many countries its benefits have reached too few, with political repercussions that are likely to depress global growth further.”...

The IMF plays an instrumental role in global finance, and its innate disdain for the wisdom of voters helps fan widespread political dissatisfaction. It suggests that elites, as they pursue broad economic objectives, disregard the hardship that their policy decisions impose on many average workers. The fact that some people—global financial market participants—are enriched by those same policies fuels social and political tensions.

The monetary policies enacted by the world’s leading central banks are a predominant mechanism for doling out differential financial rewards—exacerbating income inequality in the process. The Federal Reserve’s ultralow interest rates, intended to stimulate economic growth, have flooded wealthy investors and corporate borrowers with cheap money, while savers with ordinary bank accounts have been obliged to accept next-to-nothing returns.

Yet unconventional monetary policy has failed to deliver the anticipated boost to growth. Worse, the Fed’s large-scale interventions in credit and investment markets have created significant distortions that threaten financial stability. ...

Both Mr. Trump and Mrs. May say that the economy should work for everyone—not merely the privileged few. A nation’s government should act in the interests of everyday, working-class people. If fundamental reforms are needed to ensure that central-bank policies do not stratify citizens into winners and losers, so be it. Money should function as a reliable measuring tool and dependable store of value—not as an instrument of government policy.

It’s not as if the IMF has any new prescriptions. In a Sept. 28 speech at Northwestern University, IMF Managing Director Christine Lagarde dismissed as “pessimists” those who think central banks are not stimulating economic growth. “In my view, there is more policy space—more room to act—than is commonly believed,” she declared. “Monetary policy in advanced economies needs to remain expansive at this stage.”
Pesky voters, it seems, have had quite enough.

7--Japan Passes $32 Billion in Extra Economic Stimulus, but Some Seek More-- Abe adviser says BOJ move allows for additional spending to spur economy

Japan now printing money to pay its debts, which is monetization

Parliament passed an extra spending package Tuesday to get Prime Minister Shinzo Abe’s economic-revival plan back on track, but the Japanese leader is already facing calls to do more.
A leading Abe adviser and some economists say the Bank of Japan is essentially offering unlimited funds to the government interest-free, and he shouldn’t let the opportunity pass. Opponents of ramping up such borrowing say that issuing more debt to finance more stimulus could send a signal that the nation has lost its fiscal discipline....

The new money will go toward cash handouts for low-income families, efforts to cushion the economic impact of Britain’s departure from the European Union, and partial costs for the construction of a magnetic-levitation train line.
Spurring calls for more is the Bank of Japan’s Sept. 21 decision to start targeting a zero yield on 10-year government bonds rather than a specific quantity of bonds to buy...

In theory, this suggests that the government could issue as many 10-year bonds as it liked without ever having to pay interest, since the BOJ’s policy obligates it to buy as many as necessary to keep the yield at zero. While the BOJ technically has to buy the bonds from the market and not directly from the government, the situation could resemble monetization, in which a government pays its bills with cash newly created by the central bank.

8--Taliban Oil: Did Afghanistan Recover A Hidden Oil & Gas Treasure? A war for UNOCAL?

“No one even knows what’s here,” Akhtari told Aljazeera, hoping for a new era of Afghani politics ready for national reconstruction. “It’s a treasure for our nation and someday it will be needed.”
Though Afghanistan’s oil and gas transport and production has been stalled due to the nation’s instability, Akhtari believes that once the country is ready to harvest its natural resources, fossil fuels will rebuild his lost nation

9--Washington and Riyadh 'Plan to Let Daesh Leave Mosul and Move to Syria'

Intelligence agencies of the United States and Saudi Arabia plan to allow more than 9,000 Daesh fighters leave the Iraqi city of Mosul and travel to eastern Syria where they will take part in a major offensive to recapture Deir ez-Zor and Palmyra among over things, an unnamed source in military and diplomatic circles in Moscow told RIA Novosti."American and Saudi intelligence services have reached an agreement to provide all militants a safe passage to leave the city with their families before" Iraqi security forces and their allies launch the operation to free Mosul, he suggested. The matter was ostensibly settled during the preliminary phase of the offensive.
When the Mosul campaign begins, "coalition warplanes will launch airstrikes solely against isolated and abandoned houses within the city," the source noted, adding that these targets have been chosen in coordination with the militants.

Daesh fighters, he said, will then move to Syria. "More than 9,000 Daesh fighters from Mosul will be redeployed to eastern Syria to carry out a large-scale offensive which will involve among other things taking control over Deir ez-Zor and Palmyra," the source detailed.

The US has carried out its first direct attack against Houthi rebels, hitting three radar stations in rebel-controlled territory with Tomahawk cruise missiles. The strikes were retaliation against failed missile attacks on a US navy destroyer in the Red Sea; the latest was carried out on Wednesday. The Houthis denied their involvement in the attempts to hit the vessel

"With the US stock market selling off aggressively on October 11, we now issue a RED ALERT. The possibility of a severe fall in the stock market is now very high," Gunn wrote.

(ISIS attack casts suspicion on Pentagon bombing on sept 17)

The Islamic State of Iraq and Al-Sham (ISIS) launched a large-scale offensive inside Deir Ezzor today, targeting the Syrian Arab Army's defenses at the strategic district of Al-Haweeqa.ISIS began the offensive by storming the Syrian Arab Army-held portion of Al-Haweeqa; this resulted in a series of intense clashes that are still ongoing at the moment.
According to an Al-Masdar correspondent in Damascus, the Islamic State has not made any significant gains as of yet; however, they have intensified their assault over the last hour by sending in reinforcements to the front-lines

15--Negotiations to surrender east Aleppo continue between Syrian Army and rebels

16--Mass surrender?? Reports appeared that the High Command of the Syrian Arab Army and militant groups in the city have started negotiations on allowing the militant groups’ members a free passage from the eastern Aleppo pocket.

17--Trump and Clinton brawl in the gutter

While Trump’s poll numbers show him losing ground to Clinton, he continues to attract very large crowds. He is exploiting a deep-going anger that exists among layers of workers and lower-middle-class people who have seen a drastic decline in their living standards, a process that has only intensified during the nearly eight years of the Obama administration. The fact that these grievances can find no progressive outlet within the framework of the American political system facilitates Trump’s efforts to channel them in a reactionary and even fascistic direction.

18--Trump Campaign Warns Bill Clinton: "We're Going To Turn You Into Bill Cosby

19---HILLARY’S WARS (Pt. 2): Wikileaks Proves Syria about Iran & Israel

Wikileaks’ exposure of Hillary Clinton’s emails makes it clear that US intrusion in the Syrian Civil War is really all about Iran and Israel.
Both the US and Russia want to defeat ISIS, but only the US wants to make sure Syria’s President Bashar Assad is overthrown. The United State’s ulterior motive of regime change is the reason it is ineffective against ISIS — because it wants ISIS to do its dirty work — and is the reason for the stalemate last week between Russia and the United States that resulted in a significant move back to cold-war status. I think everyone has generally observed that the US-Russian disagreement is not about how to fight ISIS but about regime change in Syria. What many might not know yet is how last week’s eruption with Russia goes back to Hillary Clinton during her time as Secretary of State.

Wikileaks archive of Clinton emails shows this is Hillary’s War with Syria

The Syrian Civil War began in 2011 — the middle of Hillary Clinton’s term as US Secretary of State. Unmarked NATO war planes began arriving in Turkey that same year, delivering weapons absconded from Libya where America participated in another war for regime change. The planes also transported volunteer Libyan soldiers. (In my view, a mission clearly outside of NATO’s charter, which was to form an alliance under which all members would fight to protect any individual member if it was attacked, not to transform the world. No one in Syria was attacking any NATO member.) By December of 2011, the CIA and US special ops also began providing communication support to Syrian forces seeking to topple Syrian President Bashar al-Assad.

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