Obama defines US as “Muslim Country”

The condensed video clip can be found on the source link at the bottom of the article.

 

 

In an interview with French TV station, says number of Muslims residing in US justifies regarding it as a Muslim Country

A few days ago President Obama, in an interview he gave France’s Canal+ TV Channel, said that the American people need to be better educated about Islam, since US could and should be regarded as a Muslim country. He said that the number of Muslims residing in the US makes it “one of the biggest Muslim nations”.

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World braces as deflation tremors hit Eurozone bond markets

‘The forces of monetary deflation are gathering. Global liquidity is declining and central banks are not doing enough, either in the West or the East to offset the decline,’ warns CrossBorderCapital

Eurozone fears have returned with a vengeance as deepening deflation across Southern Europe and fresh turmoil in Greece set off wild moves on the European bond markets.

Yields on 10-year German Bund plummeted to an all-time low on 0.72pc on flight to safety, touching levels never seen before in any major European country in recorded history. “This is not going to stop until the European Central Bank steps up to the plate. If it does not act in the next few days, this could snowball,” said Andrew Roberts, credit chief at RBS.

Calls for action came as James Bullard, the once hawkish head of St Louis Federal Reserve, said the Fed may have to back-track on bond tapering in the US, hinting at yet further QE to fight deflationary pressures and shore up defences against a eurozone relapse.

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World economy so damaged it may need permanent QE

Markets are realising that the five-and-a-half year recovery since the financial crisis may already be over, says Ambrose Evans-Pritchard

Combined tightening by the United States and China has done its worst. Global liquidity is evaporating.

What looked liked a gentle tap on the brakes by the two monetary superpowers has proved too much for a fragile world economy, still locked in “secular stagnation”. The latest investor survey by Bank of America shows that fund managers no longer believe the European Central Bank will step into the breach with quantitative easing of its own, at least on a worthwhile scale.

Markets are suddenly prey to the disturbing thought that the five-and-a-half year expansion since the Lehman crisis may already be over, before Europe has regained its prior level of output. That is the chief reason why the price of Brent crude has crashed by 25pc since June. It is why yields on 10-year US Treasuries have fallen to 1.96pc, and why German Bunds are pricing in perma-slump at historic lows of 0.81pc this week.

We will find out soon whether or not this a replay of 1937 when the authorities drained stimulus too early, and set off the second leg of the Great Depression.

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Fears of triple-dip eurozone recession as Germany cuts growth forecasts

Anti-austerity movement gains confidence as largest economy suffers from falling industrial output and geopolitical crises

Germany has slashed its growth forecasts for this year and 2015, sparking calls for a public spending boost to prevent the eurozone falling into a triple-dip recession.

Berlin now expects growth of just 1.2% this year and the same in 2015, it said on Tuesday, down from 1.8% and 2%, in the face of slowing export growth.

It came as official Eurostat figures showed that industrial production across the eurozone slumped in August by an alarming 1.8% month-on-month, meaning it was 1.9% lower than a year ago.

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Dam breaks in Europe as deflation fears wash over ECB rhetoric

‘We are reaching the end game in Europe. If they don’t launch real QE soon, the consequences are too awful to contemplate,’ warns RBS

A key gauge of deflation risk in Europe is flashing red, dropping to record lows on fears of fresh recession and lack of decisive action by the European Central Bank.

The sudden lurch downwards came as Bank of America warned that France’s debt ratio could rocket to 120pc of GDP within five years, unless the EU authorities take radical steps to reflate the region’s economy. Italy’s debt could threaten 150pc even earlier.

The 5-year/5-year forward swap rate monitored closely by traders plummeted beneath 1.77pc on Friday morning as a global growth scare drove European stock markets to a 12-month low.

“This rate is the most important market signal on the planet right now. Everybody is watching the chart, and it has just gone off a cliff,” said Andrew Roberts, credit chief at RBS.

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Why is the Arctic at the Center of World Politics?

News coverage of the Arctic has been steadily growing in tandem with the rising importance of the region in recent years. The focus of international politics often tends to revolve around energy security within the context of a global scramble for resources to keep individual countries’ economic growth engines humming. In view of the possibilities of the Arctic as a future abundant natural resources supply base for various pivotal countries, especially in Asia, non-Arctic states such as South Korea, Japan, and China join actual Arctic nations in taking a more active part in contemplating Arctic development and theregion’s future. The Arctic Council accepted India, China, Japan, South Korea, Singapore and Italy as observers to the Council in May 2013 even though they all lack territory north of the Arctic Circle.This actually constitutes a welcome development because some circumpolar issues – specifically originating from human activities south of the Arctic Circle – are, indeed, transnational in nature such as climate change and marine shipping. The changing climate in the High North can expose countries further south to hostile climatic trends impacting weather and eventually their food security. Continue reading

Pope says world’s many conflicts amount to piecemeal World War Three

REDIPUGLIA Italy (Reuters) – Pope Francis said on Saturday the spate of conflicts around the globe today were effectively a “piecemeal” Third World War, condemning the arms trade and “plotters of terrorism” sowing death and destruction.

“Humanity needs to weep and this is the time to weep,” Francis said in the homily of a Mass during a visit to Italy’s largest war memorial, a large, Fascist-era monument where more than 100,000 soldiers who died in World War One are buried. Continue reading

The Hegemony over Southeast Europe

BERLIN/BELGRADE (Own report) -The “Western Balkans Conference”, opening in Berlin today, is overshadow [sic] by the dispute over sanctions against Russia and criticism of the Federal Intelligence Service (BND). Serbia, a participant in the conference, has declared, it will not join the EU’s sanctions. Serbian enterprises are therefore not affected by Russian countermeasures and are even replacing agricultural products, whose importation from the EU has been banned by Moscow. The German government is attempting to prevent this. Berlin, in turn, has been forced to admit that, for years, the BND had systematically spied on Albania. Albania, Germany’s NATO ally, will also attend the conference. Berlin has initiated the “Western Balkans Conference” to shore up the hegemony over Southeast Europe, which it had acquired in the 1990s against the growing influence of China, Turkey and, particularly, Russia.

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Ukraine crisis: Nato plans east European bases to counter Russia

Nato is to deploy its forces at new bases in eastern Europe for the first time, in response to the Ukraine crisis and in an attempt to deter Vladimir Putin from causing trouble in the former Soviet Baltic republics, according to its secretary general.

Anders Fogh Rasmussen said the organisations’s summit in Cardiff next week would overcome divisions within the alliance and agree to new deployments on Russia’s borders – a move certain to trigger a strong reaction from Moscow.

He also outlined moves to boost Ukraine’s security, “modernise” its armed forces and help the country counter the threat from Russia. Continue reading

Where the Vatican’s Call for Military Intervention in Iraq Is Headed

The barbaric Islamic State regime marauding through Syria and Iraq has gained the Vatican’s full attention.

In recent weeks the world has finally started to pay serious attention to the barbarism of the Islamic State, the radical Islamist group taking over Iraq and Syria. The growing outcry includes voices from Pope Francis and the Vatican, who are concerned about the genocide of Christians in the Middle East.

Criticized for his weak, uncommitted response to the Islamic State, the pope appears to be changing his tune.

During his Sunday blessing on August 10, “Pope Francis used unusually strong language to condemn the actions of [the Islamic State],” according to the Guardian (emphasis added throughout). “Unusually strong language” is probably an overstatement by the Guardian. Compared to previous popes, and considering the dramatic cruelty of the terrorist group, it is easier to make the case that Francis’s remarks are merely stronger than they were before.

However, the pope’s remarks, and some recent decisions made by the Vatican, clearly reveal that the Vatican is toughening its stance. Continue reading

South Stream ‘Plan B’ opts for route through Greece and Turkey

A Russian newspaper has published an article suggesting that the Kremlin-favoured South Stream gas pipeline could drop Bulgaria, Serbia, Hungary, and Slovenia for its route, and instead reach its final destinations, Italy and Austria, through Turkey and Greece.

On Monday (18 August), Russian business newspaper Vzglyad published an article by journalist Oleg Makarenko, claiming that Gazprom has a “plan B” in case Bulgaria continues to obstruct the construction of the South Stream pipeline.

A caretaker government in Sofia, which took office on 6 August, has frozen the construction of South Stream, following clear indications from Brussels that the EU executive would impose infringements on Bulgaria, unless the country re-negotiates its bilateral agreement with Russia for the construction of the pipeline, which is in breach of EU law.

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France rebels against austerity as Europe’s recovery collapses

France’s finance minister sends tremors through European capitals with a defiant warning that his country would no longer try to meet deficit targets

Eurozone strategy is in tatters after economic recovery ground to a halt across the region and France demanded a radical shift in policy, warning that austerity overkill is driving Europe into a depression.

Growth slumped to zero in the second quarter, with Germany contracting by 0.2pc and France once again stuck at zero. Italy is already in a triple-dip recession.

Yields on 10-year German Bunds fell below 1pc for the first time in history, beneath levels seen during the most extreme episodes of deflation in the 19th century. French yields also touch record lows. Much of the eurozone is replicating the pattern seen in Japan as it slid into a deflation trap in the late 1990s.

It is unclear whether tumbling yields are primarily a warning signal of stagnation ahead or a bet by investors that the European Central Bank will soon be forced to launch quantitative easing, buying government bonds across the board.

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Crisis stalks Europe again as deflation deepens, Germany stalls

Data from Germany, Italy and Portugal put pressure on ECB to act

Portugal has crashed into deep deflation and Italy’s inflation rate has fallen to zero as the eurozone flirts with recession, automatically pushing these countries further towards a debt compound spiral.

The slide comes amid signs of a deepening slowdown in the eurozone core, with even Germany flirting with possible recession. Germany’s ZEW index of investor confidence plunged from 27.1 to 8.6 in July, the sharpest fall since June 2012, during the European sovereign debt crisis. “The European Central Bank has to act now,” said Andrew Roberts, credit chief at RBS. Continue reading

Radical action needed as euro zone remains on amber alert

To get economy moving again, policymakers should go ahead with quantitative easing to boost liquidity and allow the euro to weaken

The euro zone’s “softly, softly” approach to the financial crisis is not working. The economy is sinking into deflation, dragged down by a zombie banking system and spiralling government debt. It is slipping back towards recession. A future break-up of the euro zone remains a potent threat.

Policymakers can ill afford to keep kicking the can down the road. The bailout earlier this month of Portuguese lender Banco Espirito Santo was a sharp reminder to investors the euro zone was not out of the woods by a long stretch. Continue reading

Italy just fell back into recession for the third time since 2008

ROME — Italy slipped into recession for the third time since 2008 in the second quarter, underlining the chronic weakness of the eurozone’s third-largest economy and pressuring the government to complete promised reforms.

Figures on Wednesday from statistics agency ISTAT showed gross domestic product unexpectedly declined by 0.2% in April-June from the previous three months. A Reuters poll of economists had forecast growth of 0.2%.

The economy also shrank by 0.1% in January-March, meaning it has returned to recession, defined as two consecutive quarters of contraction.

Italian stocks fell after the data and the risk premium between Italy’s 10-year bonds and those of Germany widened. Continue reading