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Economic Disaster
Posted with permission and written by Rory Hall of The Daily Coin (CLICK FOR ORIGINAL)
It has been a strange two days for US foreign policy.
Earlier today we reported that in what amounts to a significant blow to the official US position over Syria, namely the multi-year demands to replace president Assad with a western puppet ruler, John Kerry on Tuesday accepted Russia's long-standing demand that President Bashar Assad's future be determined by his own people, as Washington and Moscow edged toward putting aside years of disagreement over how to end Syria's civil war."
The alleged ties between Turkish President Erdogan and Islamist terrorists in Syria is an embarrassment for the Obama administration and the U.S. news media, which would prefer to look the other way rather than face up to the danger created by an out-of-control NATO "ally," writes Robert Parry.
Sticker Shock: Fed to Hike Rates First Time in NINE Years!
Courtesy of Phil’s Stock World
A rate hike – what’s that?
On October 30, the BOJ was widely expected to do something and disappointed markets by doing nothing.
Then, on December 3, the ECB had pushed markets into a rabid, EURUSD-shorting frenzy only to dramatically disappoint by doing the barest of minimums compared to the historic pre-jawboning by Draghi and company.
Today, according to the market there is nearly a ~80% probability that the Fed will announce the first rate hike, precisely 7 years to the day after it cut rates to zero.