One of the more confusing market moves in recent weeks has been the tremendous surge in transportation, or as we call them trannies, stocks...
... even as underlying fundamentals have continued to steadily deteriorate.
Tensions are rapidly escalating between the US and Russia following last week two fly-bys when first a Russian Su-24 "buzzed" the US missile destroyer USS Donald Cook in the Baltic Sea, and just days later flew within 50 feet of a US recon plane also flying over the Baltic Sea, which some interpreted as a Russian warning to Poland. The U.S. quickly responded and complained vocally to Russia (even if Obama did not mention the incident during his phone call with Putin immediately following the incident).
Emma Ashford rejects the idea that Saudi Arabia is a “good ally” for the U.S.:
These tensions reflect a basic reality: Saudi Arabia may once have been a good ally, but today the relationship is toxic. Saudi actions are more often negative for U.S. policy objectives than positive. Rather than repairing the relationship, U.S. policymakers should reduce support for Saudi Arabia’s regional agenda.
As Iran pledges to continue support for the Syrian government, they have also warned that a US plan to deploy more troops to Syria will worsen the crisis. The Iranian Foreign Ministry said on Monday: “We have announced from the start of the Syria crisis that any foreign intervention in Syria without coordination with its government will further escalate the crisis“ Press TV reports: President Barack Obama will announce plans on Monday to send up to 250 more military personnel to the war-torn country, US administration officials have said.
Last night I listened to this hourlong talk, with Q&A, by Andrew Bacevich, about his new book America’s War For The Greater Middle East: A Military History. It’s worth your time. Here, in a Politico essay from earlier this month, Bacevich lays out his thesis. Excerpt: