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Gary Edwards

Is This the End of Capitalism? Hardly, but it's a great excuse for the antiglobalizatio... - 0 views

online.wsj.com/...SB123862779016180329.html

financial-crisis obama-socialism reagan-capitalism G20 Banksters

shared by Gary Edwards on 05 Apr 09 - Cached
  • Gary Edwards on 05 Apr 09
     
    Daniel Henninger Says Blaming Capitalism for the Crisis Overlooks the Housing Bubble - WSJ.com: "Heads of state, perplexed finance ministers, inflated retinues and journalists from 20 nations arrived in London yesterday to address "the greatest financial crisis since the Depression." By 4 p.m. London time today they will hold a press conference and go home." "Beware of real-estate salesmen. The housing bubble that floated into view in 2007 is turning into the blob that ate the world. Real-estate mortgages and their derivative securities are a significant problem. That discrete problem, however, has been pumped up to an historic "crisis of capitalism." Capitalism didn't tank the U.S. economy. Overbuilt housing did. Overbuilt housing tanked the economies of the U.K. and Ireland and Spain. If little else, we've learned that artificially cheap housing sets loose limitless moral hazard." "In a normal environment, the problems revealed by the crisis in mortgage finance would produce fixes relevant to the problem, such as resetting the ratios of assets to capital for banks and hedge funds, or telling the gnomes of finance to rethink mark-to-market and the uptick rule. More energetic reformers might consider Gary Becker's suggestion that as financial institutions expand in size, their capital requirements tighten, so that compulsive eaters like Citigroup can fit inside their capital base." "Two signal events in history are shaping the politics of the current economic crisis: the Great Depression and the Reagan presidency (and in Europe, Thatcherism)." "The Depression put in motion an historic tension between public and private sectors over who sets a nation's course. After 50 years of public dominance, Reagan's presidency tipped the scales back toward private enterprise. The economic life of the ensuing 35 years became "the American model." Every waking hour of this economically liberal era, the losing side has wanted to tip the balance back toward public-sector
Paul Merrell

M of A - IS Promotes Its Bloody Multinationality - Obama Says Assad Stays - 0 views

www.moonofalabama.org/...onality-obama-keeps-assad.html

war & peace Syria Assad Obama

shared by Paul Merrell on 20 Nov 14 - No Cached
  • the U.S president finally accepted that president Assad of Syria will, at least for the time of a "transition", continue in his position.
  • I had assumed earlier that to fight the Islamic state president Obama will refrain from removing president Assad. The Turkish prime minister Davutoğlu claimed Friday that he received strong signals that the U.S. would change its Syria policy and dispose of president Assad. Obama refuted that directly in a press conference at the G-20 in Brisbane: PRESIDENT OBAMA: [...] Now, we are looking for a political solution eventually within Syria that is inclusive of all the groups who live there -- the Alawite, the Sunni, Christians.And at some point, the people of Syria and the various players involved, as well as the regional players -- Turkey, Iran, Assad’s patrons like Russia -- are going to have to engage in a political conversation. And it’s the nature of diplomacy in any time, certainly in this situation, where you end up having diplomatic conversations potentially with people that you don’t like and regimes that you don’t like.But we’re not even close to being at that stage yet.
  • Q But just to put a fine point on it -- are you actively discussing ways to remove him [Assad] as a part of that political transition? PRESIDENT OBAMA: No. So far the U.S. had always said that president Assad could not be part of the transition, something that Russia and Iran insisted on. This the is a change in U.S. policy and, in sight of the expanding Islamic State, a sensible one.
Paul Merrell

Russia Expects to Ratify BRICS Bank Deal by March | News | The Moscow Times - 0 views

www.themoscowtimes.com/...515675.html

economic-warfare BRICS-Bank Russia de-dollarization

shared by Paul Merrell on 13 Feb 15 - No Cached
  • Russia is set to ratify an agreement on the creation of a bank for the BRICS bloc of large emerging economies this month or in March, the country's finance minister said. The establishment of the development bank, aimed at providing funds for infrastructure projects, has been slow in coming with prolonged disagreement over funding and management of the institution. Finance Minister Anton Siluanov said Russia was running ahead of the other BRICS nations. "We are ahead of everyone. Our ratification is possible for the end of February or at the latest March," Siluanov told reporters on the sidelines of a meeting of G20 finance chiefs on Tuesday. Russia is expected to commit $2 billion to the fund. The group has struggled to take coordinated action after an exodus of capital from Brazil, Russia, India, China and South Africa prompted by a scaling back of U.S. monetary stimulus.
Paul Merrell

Division over bank as Australia caught between China and US | nsnbc international - 0 views

nsnbc.me/...bank-australia-caught-china-us

BRICS China Australia development-bank free-trade-agreements

shared by Paul Merrell on 19 Oct 14 - No Cached
  • Senior cabinet ministers are believed to be divided over whether Australia should sign up to an internationally funded infrastructure development bank that China is set to launch next month.
  • Australia has been under pressure from the United States not to participate in the new bank. The position of Prime Minister Tony Abbott is unclear on the issue, that could have ramifications for the final days of bedding down the Australia-China free trade agreement which the government wants concluded this year and preferably by the G20 leaders meeting in Brisbane next month. The Chinese plan is being viewed internationally in the wider geopolitical context of Chinese-US competition in the region. The Americans, who see the bank as potentially a way of China increasing its clout with countries in southeast Asia, have been strongly lobbying Australia to keep out of it. The issue is to come before cabinet imminently, as China plans to announce the bank at the APEC summit, which will be held in Beijing in November. Hockey will be in Beijing next week for the APEC finance ministers meeting, where the bank will be a topic of discussion.
Paul Merrell

What's the big deal between Russia and the Saudis? - RT Op-Edge - 0 views

www.rt.com/...-saudia-arabia-russia-politics

war & peace Russia Saudis Syria Yemen Iran Israel pipelinestan-wars must-read

shared by Paul Merrell on 10 Nov 15 - No Cached
  • Amidst the wilderness of mirrors surrounding the Syrian tragedy, a diamond-shaped fact persists: Despite so many degrees of separation, the Saudis are still talking to the Russians. Why? A key reason is because a perennially paranoid House of Saud feels betrayed by their American protectors who, under the Obama administration, seem to have given up on isolating Iran.
  • From the House of Saud’s point of view, three factors are paramount. 1) A general sense of ‘red alert’ as they have been deprived from an exclusive relationship with Washington, thus becoming incapable of shaping US foreign policy in the Middle East; 2) They have been mightily impressed by Moscow’s swift counter-terrorism operation in Syria; 3) They fear like the plague the current Russia-Iran alliance if they have no means of influencing it.
  • That explains why King Salman’s advisers have pressed the point that the House of Saud has a much better chance of checking Iran on all matters - from “Syraq” to Yemen - if it forges a closer relationship with Moscow. In fact, King Salman may be visiting Putin before the end of the year.
  • ...6 more annotations...
  • One of the untold stories of the recent Syria-driven diplomatic flurry is how Moscow has been silently working on mollifying both Saudi Arabia and Turkey behind the scenes. That was already the case when the foreign ministers of US, Russia, Turkey and Saudi Arabia met before Vienna.Vienna was crucial not only because Iran was on the table for the first time but also because of the presence of Egypt – incidentally, fresh from recent discovery of new oil reserves, and engaging in a reinforced relationship with Russia.The absolute key point was this paragraph included in Vienna’s final declaration: “This political process will be Syrian-led and Syrian-owned, and the Syrian people will decide the future of Syria.”It’s not by accident that only Russian and Iranian media chose to give the paragraph the appropriate relevance. Because this meant the actual death of the regime change obsession, much to the distress of US neocons, Erdogan and the House of Saud.
  • The main point is the death of the regime change option, brought about by Moscow. And that leaves Putin free to further project his extremely elaborate strategy. He called Erdogan on Wednesday to congratulate him on his and the AKP’s election landslide. This means that now Moscow clearly has someone to talk to in Ankara. Not only about Syria. But also about gas.Putin and Erdogan will have a crucial energy-related meeting at the G20 summit on November 15 in Turkey; and there’s an upcoming visit by Erdogan to Moscow. Bets are on that the Turk Stream agreement will be – finally – reached before the end of the year. And on northern Syria, Erdogan has been forced to admit by Russian facts on the ground and skies that his no-fly zone scheme will never fly.
  • That leaves us with the much larger problem: the House of Saud.There’s a wall of silence surrounding the number one reason for Saudi Arabia to bomb and invade Yemen, and that is to exploit Yemen’s virgin oil lands, side by side with Israel – no less. Not to mention the strategic foolishness of picking a fight with redoubtable warriors such as the Houthis, which have sowed panic amidst the pathetic, mercenary-crammed Saudi army.Riyadh, following its American reflexes, even resorted to recruiting Academi – formerly Blackwater - to round up the usual mercenary suspects as far away as Colombia.It was also suspected from the beginning, but now it's a done deal that the responsible actor for the costly Yemen military disaster is none other than Prince Mohammad bin Salman, the King’s son who, crucially, was sent by his father to meet Putin face-to-face.
  • Meanwhile, Qatar will keep crying because it was counting on Syria as a destination point for its much-coveted gas pipeline to serve European customers, or at least as a key transit hub on the way to Turkey.Iran on the other hand needed both Iraq and Syria for the rival Iran-Iraq-Syria gas pipeline because Tehran could not rely on Ankara while it was under US sanctions (this will now change, fast). The point is Iranian gas won’t replace Gazprom as a major source for the EU anytime soon. If it ever did, or course, that would be a savage blow to Russia.
  • In oil terms, Russia and the Saudis are natural allies. Saudi Arabia cannot export natural gas; Qatar can. To get their finances in order – after all even the IMF knows they are on a highway to hell - the Saudis would have to cut back around ten percent of production with OPEC, in concert with Russia; the oil price would more than double. A 10 percent cutback would make a fortune for the House of Saud.So for both Moscow and Riyadh, a deal on the oil price, to be eventually pushed towards $100 a barrel, would make total economic sense. Arguably, in both cases, it might even mean a matter of national security.But it won’t be easy. OPEC’s latest report assumes a basket of crude oil to be quoted at only $55 in 2015, and to rise by $5 a year reaching $80 only by 2020. This state of affairs does not suit either Moscow or Riyadh.
  • Meanwhile, fomenting all sorts of wild speculation, ISIS/ISIL/Daesh still manages to collect as much as $50 million a month from selling crude from oilfields it controls across “Syraq”, according to the best Iraq-based estimates.The fact that this mini-oil caliphate is able to bring in equipment and technical experts from “abroad” to keep its energy sector running beggars belief. “Abroad” in this context means essentially Turkey – engineers plus equipment for extraction, refinement, transport and energy production.One of the reasons this is happening is that the US-led Coalition of the Dodgy Opportunists (CDO) – which includes Saudi Arabia and Turkey - is actually bombing the Syrian state energy infrastructure, not the mini oil-Caliphate domains. So we have the proverbial “international actors” in the region de facto aiding ISIS/ISIL/Daesh to sell crude to smugglers for as low as $10 a barrel.Saudis – as much as Russian intel - have noted how ISIS/ISIL/Daesh is able to take over the most advanced US equipment that takes months to master, and instead integrate it into their ops at once. This implies they must have been extensively trained. The Pentagon, meanwhile, sent and will be sending top military across “Syraq” with an overarching message: if you choose Russia we won’t help you.ISIS/ISIL/Daesh, for their part, never talks about freeing Jerusalem. It’s always about Mecca and Medina.
  • Paul Merrell on 10 Nov 15
     
    Pepe Escobar brings us up to speed on big changes in the Mideast, including the decline of U.S. influence. Not mentioned, but the Saudis' feelings of desertion by the Washington Beltway and its foreplay with Russia could bring about an end to the Saudis insistence on being paid for oil in U.S. dollars, and there goes the western economy. 
Paul Merrell

Obama Rejects GOP's Islamophobic Statements « LobeLog - 0 views

lobelog.com/s-gops-islamophobic-statements

Auction 2016 Republicans Islamaphobia Obama

shared by Paul Merrell on 16 Nov 15 - No Cached
  • It didn’t take long for Republican presidential candidates to stake out strikingly anti-Muslim immigration positions following the terrorist attacks in Paris that left at least 129 people dead and over 300 injured. French flags were flown and moments of silence observed across the U.S. and around the world, but Sen. Ted Cruz (R-TX), Sen. Marco (R-FL), Ben Carson, and Donald Trump decided it was an opportunity to stoke anti-immigrant and anti-Muslim fears. The anti-immigrant and Islamophobic comments led President Obama, speaking from the G20 summit in Turkey, to denounce the statements as “shameful.” Cruz claimed that “there is no meaningful risk of Christians committing acts of terror” so the U.S. should focus on admitting displaced Christians, but it was “lunacy” to allow Muslim refugees into the country. Rubio outright rejected accepting any Syrian refugees into the U.S. because “there’s no way to background check” them. Ben Carson said that accepting Syrian refugees into the U.S. would require “a suspension of intellect.” Donald Trump, doubling down on his anti-immigrant campaign platform, warned that Syrian refugees could be “one of the great Trojan horses.” Louisiana Governor Bobby Jindal called for sealing the U.S. border, and Sen. David Vitter (R-LA) started a petition to stop Syrian refugees from entering Louisiana.
  • The comments from Republicans led Obama, speaking to the press at the close of the G-20 Summit today in Antalya, Turkey, to hit back against the growing sentiment on the right to only allow Christian refugees into the country. Obama pointed to the hypocrisy of politicians who “themselves come from families who benefited from protection when they were fleeing political prosecution,” a jab at Rubio and Cruz, both of whom are the children of Cuban immigrants to the U.S. “We don’t have religious tests to our compassion,” said Obama, adding that “while I had a lot of disagreements with President George W. Bush on policy, but I was very proud after 9/11 when he was adamant and clear about the fact that this is not a war on Islam.” Watch Obama’s comments here:
  • Paul Merrell on 16 Nov 15
     
    Under international law, all nations are required to grant asylum to refugees, regardless of their religion or race. 
Paul Merrell

Russia & France to Coordinate Attacks against Daesh: US & Turkey to close Border to Syr... - 0 views

nsnbc.me/...urkey-to-close-border-to-syria

war & peace Syria Russia France Turkey bombers border-crossings U.S.-foreign-policy

shared by Paul Merrell on 17 Nov 15 - No Cached
  • Following in the wake of the terrorist attacks in Paris on Friday, November 13 and Moscow’s conclusion that the Russian Airbus 321 that crashed in Egypt’s North Sinai province on October 31; and following recent talks on Syria in Vienna and talks on the sidelines of the G20 Summit in Antalya, Turkey, the military dynamics pertaining Syria and the international fight against the self-proclaimed Islamic State has changed, significantly. 
  • French President Francois Hollande and his administration responded to the attacks in Paris by declaring a three months state of emergency while deploying the French aircraft carrier Charles De Gaulle to the Mediterranean to upscale French participation in the fight against the self-proclaimed Islamic State, a.k.a. Daesh, ISIS or ISIL. Hollande announced that the carrier would leave port on September 19., adding that: “This is going to triple our military power [as part of the operation against the Islamic State]. I am not talking about deterring the IS but about eliminating it totally.” On Tuesday the Chief of the Russian Federal Security Service (FSB), Alexander Bortnikov, announced that the crash of the Russian Kogalmavia (Metrojet) Airbus 321 in Egypt’s North Sinai on October 31 had been caused by a bomb on board the plane.
  • The of Flight KGL9268 claimed the lives of all 224 passengers and crew on board. The plane was brought down about one month after Russia launched its airstrikes against Daesh, Jabhat al-Nusrah and other insurgencies in Syria. President Putin has briefed the Russian military command on the deployment of the French aircraft carrier and instructed the Russian naval forces in the Mediterranean and the Russian air forces in Syria to cooperate with the French military and to coordinate their military operations.
  • ...2 more annotations...
  • Russia has further up-scaled its military engagement in Syria by including Tu-160 and Tu-95MS strategic bombers in the operations in Syria. On Tuesday Russian Defense Minister Sergey Shoigu informed President Vladimir Putin on the deployment of the bombers, saying: “Today, in a period from 05:00 a.m. to 05:30 a.m. Moscow time, twelve Tu-22 bombers hit Islamic State targets in Raqqah; in a period from 09:00 a.m. to 09:40 a.m. Tu-160 and Tu-95MS strategic bombers fired 34 air-launched cruise missiles at terrorist targets in the provinces of Aleppo and Idlib. A total of 127 sorties against 206 terrorist targets were scheduled for Tuesday, of which 82 sorties have already been flown and 140 targets have been hit. The operation is underway.” Russian air forces have thus far delivered about 4,000 air strikes in Syria, report official Russian military sources. A greater number than delivered by the US-led coalition against Daesh within one year. Putin noted, however, that this was not the time to focus on differences, but time to focus on an international effort aimed at defeating Daesh and terrorism.
  • The administrations of Turkish President R. Tayyip Erdogan and the administration of US President Barack Obama, for their part, have reportedly agreed on closing the entire Turkish – Syrian border. Turkey has previously been strongly criticized for allowing the illegal import of oil from Daesh while allowing the flow of weapons, munitions and insurgents for Daesh at the eastern part of the border while allowing Jabhat al-Nusrah to cross the border in the western section of the border. Whether the latest developments result in the formation of a genuine international alliance against Daesh and other terrorist organizations in the region remains to be seen. Moscow has reportedly begun to communicate with insurgents which it designates as “reasonable opposition” to avoid bombing their positions, while Moscow, in return, receives intelligence about Daesh and Jabhat al-Nusrah.
  • Paul Merrell on 17 Nov 15
     
    Is the U.S. finally getting serious about taking down ISIL? Closing the Turkey border crossings that have allowed ISIL resupply is a strong measure, if actually implemented effectively. Russian movement of bombers into the fray likewise cranks up the heat on ISIL and al Nusrah.
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