Early Wednesday morning, Israeli Air Force jets violating Lebanese air space struck the Jamraya research center outside Damascus, reportedly killing two and wounding four people at the weapons development center linked to Iran. The Syrian government claimed that its air defenses engaged the incoming air to ground missiles, destroying several projectiles over Lebanon. The IAF strike came after reports that the Syrians had moved longer range surface to air missiles to northern Aleppo province, in order to back up Damascus' prior threats to shoot down Turkish Air Force jets that were bombing Kurdish forces in Afrin. It was unclear whether there was any link between the relocation of some Syrian SAMs and the timing of the IAF strike, though Turkish jets and even drones were reportedly staying clear of the newly relocated (and Russian or Iranian upgraded) Syrian air defenses, which left Turkish units operating miles away from their border without friendly air cover.Read More
In the episode of his new solo recordings, V the Guerrilla Economist talks about Friday's stock market smackdown and the real story behind the increasingly tottering financial markets. -- JWSRead More
February 6 -- While it is too early to say for sure that we are at the beginning of an historic popping of the stock market bubble, it will eventually occur. The Plunge Protection Team will be out in full force this week, to try to halt the slide, but ultimately, this bubble will pop. The top swindlers on Wall Street are well hedged, and often move to short positions to profit from steep drops or crashes -- this is likely the case today.
But the "Masters of the Universe" at the Too Big to Fail banks and the top financial institutions do not have a solution to the problem they have created, the Catch 22 created by the regime of QE money and endless bailouts. There are now too many "zombie" banks and corporations which can only survive if they have a flow of liquidity. If that flow is slowed or halted by raising interest rates, to prevent a shift to hyperinflation, a much bigger crash will occur, as the total amount of debt is unsustainable, without the funny money being pumped in by the Federal Reserve and other central banks -- which threatens a hyperinflationary crash, thus defining the Catch 22!Read More
The Shotgun Professor Ken Schortgen Jr. discusses his latest articles at The Daily Economist detailing the cryptocurrency crush after the Bank of International Settlements (BIS) Tower of Basel, China and the big banks credit card issuers all came out against the private virtual coins. With mining costs approaching parity in some states with the price to mine one bitcoin, environmentalists (and perhaps soon state utility regulators?) are joining in the pile on against cryptos, even as the banksters try to keep volatility spooked little guy investors in the stratospheric, monetary hypoxia induced stock and bond markets.