On Thursday, after 7 years of having an overweight or at least neutral stance on equities, JPM "for the first time this cycle" went underweight stocks. This is what JPM's Jan Loeys said:
In the aftermath of last week's disappointing G-20 Shanghai summit, there was much riding on this weekend's start of the China's People's Congress, and specifically what if any stimulus announcement Beijing will make; sadly for stimulus addicts China mostly disappointed and after the unimaginative scope of growth proposals, it is hardly surprising that European stocks and US equity futures have taken a leg lower, even if Chinese stocks rose and certain commodities such as Iron Ore soared overnight on hopes China will either "rationalize" capacity or at least build some more roads to nowhere
Authored by Paul Craig Roberts,
Washington has a long history of massacring people, for example, the destruction of the Plains Indians by the Union war criminals Sherman and Sheridan and the atomic bombs dropped on Japanese civilian populations, but Washington has progressed from periodic massacres to fulltime massacring. From the Clinton regime forward, massacre of civilians has become a defining characteristic of the United States of America.
The United States is constructing two air bases in Kurdish-controlled northern Syria. One base is nearing finished being set up and another dual purpose military-civilian base is under construction, according to a Kurdish website. Reuters UK reports: The Erbil-based news website BasNews, quoting a military source in the Kurdish-backed Syria Democratic Forces (SDF), said most of the work on a runway in the oil town of Rmeilan in Hasaka was complete while a new air base southeast of Kobani, straddling the Turkish border, was being constructed.
Submitted by Eugen von Bohm-Bawerk via Bawerk.net,