Europe

Submitted by Mike "Mish" Shedlock

EU’s Refugee Dilemma: “Growing Panic” on How to Change Terms of Deal with Devil

When you make a deal with the devil, it’s certain the devil will insist you keep up your end of the bargain.

That’s precisely where we are at today in regards to the European refugee crisis.

German Chancellor Angela Merkel signed off on a deal with the devil (Turkey) that would give 80 million Turkish Muslims visa-free access to the EU. As part of the deal, Turkey will receive €3 billion in aid.

US Assaults British Sovereignty

Paul Craig Roberts

The Washington elite believe that the British people should serve Washington’s interest and not their own. To this end, President Obama has been sent to London to emphasize that the UK must remain in the EU.

Does this make you wonder why it is important to Washington for the British people to surrender their national sovereignty to the European Union? If not, it should.

Back in December 2014, just before the ECB officially launched its initial phase of QE in which it would monetize government bonds, Mario Draghi was asked a very direct question: what types of assets could the ECB buy as part of its quantitative easing program. He responded, "we discussed all assets but gold."

Submitted by Pater Tenebrarum via Acting-Man.com,

Dismal Earnings, Extreme Valuations

The current earnings season hasn’t been very good so far. Companies continue to “beat expectations” of course, but this is just a silly game. The stock market’s valuation is already between the highest and third highest in history depending on how it is measured.

Last week's decision by Angela Merkel to allow a Turkish criminal complaint against a German comedian is now causing serious problems within her coalition. As a reminder, German comedian Jan Bohmermann faces up to five years in prison for performing a satirical poem directed at President Erdogan.