United States

Just one day after international sanctions against Iran were lifted, the United States has imposed fresh sanctions on Iranian companies and individuals over a recent ballistic missile test. U.S. officials said that the Treasury planned to announce the penalties in late December, but held off after the Iranian foreign minister said they could have derailed the prisoner exchange that took place over weekend. The BBC reports: The new sanctions prevent 11 entities and individuals linked to the missile programme from using the US banking system.

While US intervention in its various forms has likely been ongoing for decades, March 2011 is often cited as the start of foreign involvement in the Syrian Civil War (refering to political, military and operational support to parties involved in the ongoing conflict in Syria, as well as active foreign involvement).

Since then the nation has collapsed into chaos with an endless array of superlatives possible to describe the economic and civilian carnage that has ensued.

Hillary Clinton has called for fresh new sanctions on Iran just hours after the U.S. announced it had dropped sanctions on Iran as part of the nuclear deal.  The Presidential candidate called for new sanctions due to the countries ballistic missile program, warning Americans that Iran is still violating UN rules. “Iran is still violating UN Security Council resolutions with its ballistic missile program, which should be met with new sanctions designations and firm resolve,” she said.

Exceprted from Doug Noland's Credit Bubble Bulletin,

Following an epic stock rout to start the year, one which has wiped out trillions in market capitalization, it has rapidly become a consensus view (even by staunch Fed supporters such as the Nikkei Times) that the Fed committed a gross policy mistake by hiking rates on December 16, so much so that this week none other than former Fed president Kocherlakota openly mocked the Fed's credibility when he pointed out the near record plunge in forward breakevens suggesting the market has called the Fed's bluff on rising inflation.