United States

While the following summary of key recent headlines suggests a broad array of issues leading to the worst start of the year since 2008...

... in broad terms, the biggest worries challenging that bull case in January were twofold: China and commodities, mostly oil. However, over the past week, two new big concerns appear to have emerged. Here, ironically, is Deutsche Bank explaining what these are (for those confused, "tightening in financial conditions in European financial credit" is a euphemism for plunging DB stock among others):

As we reported yesterday, in one of the most surprising developments involving the Syrian proxy war, Saudi Arabia and U.S. presence on the ground, the latest twist is that both Turkey and Saudi Arabia are now mulling a full-scale invasion while Russia and the Syrian government continue their progress in wiping out the US and Saudi-funded rebellion. To be sure, there was confusion when CNN Arabia reported first that the Saudis may send as much as 150,000 troops into Saudi Arabia, by way of Turkey, something which Anadolu news promptly denied.

With China offline for the rest of the week, global markets have found a new Asian bogeyman in the face of Japan which as reported last night saw its markets crash, and the Yen soar, showing that less than 2 weeks after the BOJ unveiled NIRP, yet another central bank has lost control.

Earlier this year, Seymour Hersh, America’s leading investigative journalist, published an intriguing article on U.S. policy towards the growing conflict in Syria and Iraq. “Military to Military,” which appeared in the London Review of Books, maintains that the Pentagon’s intelligence analysts have, since 2013, been advising against the White House policy of removing Syrian President Bashar al-Assad, arguing that it would create a power vacuum in the country that would inevitably be exploited by groups like ISIS.

Submitted by John Whitehead via The Rutherford Institute,

“If you can’t say ‘Fuck’ you can’t say, ‘Fuck the government.’” ? Lenny Bruce

Not only has free speech become a four-letter word - profane, obscene, uncouth, not to be uttered in so-called public places - but in more and more cases, the government deems free speech to be downright dangerous and in some instances illegal.