The amount of credit market fireworks this week is only surpassed by those of October 15. Everywhere you look, credit markets are not just growing bearish but, as I said earlier in the week, bearish in comparison with past crisis periods. The past few days have surpassed even that observation, making credit now a fast-moving indicator of still nothing good.
For most people that makes sense of Europe. The currency bloc that has been strangled by the common euro is living up to that sense of monetary reality. All that talk of recovery only eight months ago has been washed away in a tide of remarkable fear. What was perhaps only unease or mild nervousness as late as September has turned in the past few weeks to what can only be described as growing desperation.
On occasion a reader will ask if I can give readers some good news. The answer is: not unless I lie to you like “your” government and the mainstream media do. If you want faked “good news,” you need to retreat into The Matrix. In exchange for less stress and worry, you will be led unknowingly into financial ruin and nuclear armageddon.
If you want to be forewarned, and possibly prepared, for what “your” government is bringing you, and have some small chance of redirecting the course of events, read and support this site. It is your site. I already know these things. I write for you.
The neoconservatives, a small group of warmongers strongly allied with the military/industrial complex and Israel, gave us Granada and the Contras affair in Nicaragua. President Reagan fired them, and they were prosecuted, but subsequently pardoned by Reagan’s successor, George H.W. Bush.
Ensconced in think tanks and protected by Israeli and military/security complex money, the neoconservatives reemerged in the Clinton administration and engineered the breakup of Yugoslavia, the war against Serbia, and the expansion of NATO to Russia’s borders. Continue reading
I recently read Putin’s latest speech to the Federal Assembly (h/t to PCR for the link). While I was reading it I couldn’t help but be impressed with the man’s ability to be reasonable. This is a man who cannot take a shit without inducing more sanctions from the West. Yet Putin remains very controlled and very patient. Now I’m not sure we can attribute it totally to his character as some of his control must be due to the fact that Putin is very much a chess player. He recognizes he is not in a good spot to be an aggressor. His economy is being destroyed by the West, and America, although an arrogant bully, has the means to pack a pretty damn powerful punch. That’s what $600 billion annually buys you.
But I also believe Putin and Russia have learned from their history. Putin seems to have an ability to understand human behaviour and so can read and prepare for actions by the West before they know what they are going to do. He also understands that there is an incredible amount of dead weight loss in an arms race. A disproportionate amount of the economy gets allocated to a very small but very elite group of men, namely, the military industrial complex. And such a strategy wiped out that country once before. If even half of what Putin claims are his intentions and wishes well he is still infinitely more ideal as a global leader than what our Western heads of state are presenting. In the following excerpt from his address to the Federal Assembly you can see he understands the West’s intentions very well. Continue reading