Over the past year, Germany has gone to great lengths in its attempt to culturally integrate the hundreds of thousands of middle-eastern refugees that entered the nation as a result of Angela Markel's now defunct overly welcoming immigrant policies.
Last week, David Cameron warned that “Brexit” might lead to war in Europe. This was a ridiculous claim and widely panned as such, but that hasn’t stopped Cameron from resorting to increasingly stupid fear-mongering to sway the public to the side of Remain:
David Cameron has said the leader of Islamic State would be happy if the UK voted for Brexit.
So, according to the Prime Minister, would Vladimir Putin.
Jonathan Chait considers Truman as a model for how Hillary Clinton might govern, and then says this:
It is impossible to predict how Clinton will handle foreign policy, but it is not fanciful to hope that her experience (unusually deep for a president) will enable her to imaginatively face the confounding challenge of radical Islam.
It has been more of the same overnight, as global stocks piggybacked on the strong US close and rose despite the lack of good (or bad) macro news, propelled higher by the two usual suspects: a higher USDJPY and a even higher oil, if mostly early on in the trading session.
Yes, the oil squeeze higher continues, and as the charts below courtesy of Andy Critchlow show, Brent is now 82% higher in the past 82 days...
... while crude has had its strongest rally since 2010.
Just two years after the US provided generous amounts of modern weapons to both the "moderate" Syrian rebels as well as the Iraq military, which then conveniently and almost immediately "fell into the wrong hands" and served to arm what was then a little known group of Muslim fundamentalists that went by the name of the Islamic State, the US is about to do it again.