The nightmare scenario of U.S. geopolitical strategists seems to be coming true: foreign economic independence from U.S. control. Instead of privatizing and neoliberalizing the world under U.S.-centered financial planning and ownership, the Russian and Chinese governments are investing in neighboring economies on terms that cement Eurasian economic integration on the basis of Russian oil and tax exports and Chinese financing.
Submitted by Charles Hugh-Smith of OfTwoMind blog,
The Devil pens a holiday letter.
Through means I am unable to disclose, I have obtained a copy of the Devil's Christmas letter. Yes, Satan too sends a Yule letter, and no, I was not on his mailing list. I think Satan's Holiday cheer should give us all pause.
Not only did the Fed miss its window of opportunity to hike rates, but it did so at the worst possible time, launching the first tightening cycle in 11 years just as US manufacturing entered its first recession since the financial crisis, just as the credit cycle entered its slowdown phase, and just as the default cycle is picking up, first in the energy sector one year ago and now spreading to all other industries.
Submitted by Gordon T. Long of the Financial Repression Authority
Obama Abruptly Waives 1980 Foreign Investment in Real Property Tax Act
"Let’s remember why we became part of a coalition to stop [Libyan dictator Muammar] Gaddafi from committing atrocities against his people.”