Africa

The Evil Empire Has The World In A Death Grip

Paul Craig Roberts

Having shown that the world is turning Japanese with tales of economic malaise, extreme monetary policy, and negative rates, Visual Capitalist's Jeff Desjardins shows that Germany, with its 5-yr government bond currently trading at a -0.33% yield, is no exception to this story. However, negative yields are not the only concern that the country has in common with Japan.

While we have previously observed the massive glut of oil product in the US, which has led to such arcane developments as a "parking lot" of oil tankers outside of Galveston, TX...

... or ships loaded to the brim with crude making U-turns in the middle of the Atlantic Ocean, taking advantage of the supercontango while unable to find buyers...

The commenter “Jones” put a comment on a different thread. It was off-topic, and it was so good that I wanted to give it its own post. He writes:

This is not on topic. But I guess it sort of is, because I want to ask whether you’ve chosen the right topic.

This occurred to me after reading another article on this site, the great piece by F.H. Buckley. It has its problems, but the fundamental point is really valuable. We need systems other than law in order to come close to an optimal regulation of society.

U.S. defense officials have told The Daily Beast that the Obama administration has turned down Pentagon plans to go after ISIS/Islamic State in Libya. The Islamic State is gaining ground in Libya and Sirte, the former dictator Muammar Gaddafi’s home city, is now the epicenter for the terror group in Libya and north Africa. The Daily Beast reports: In recent weeks, the U.S. military—led by its Africa and Special Operations Commands—have pushed for more airstrikes and the deployment of elite troops, particularly in the city of Sirte.