President-elect Donald Trump wants all appointments made as a result of political donations to end ‘on schedule.’ / Reuters
President-elect Donald Trump has ordered every Obama-appointed diplomat home in the days following his inauguration. Most got their posts after generous political donations.
Past administrations allowed diplomats an extension until a replacement could be found, but the State Department notified all diplomats of a break from that tradition on Dec. 23. Continue reading
What’s crucial to also understand here is that the United States is not a democracy anymore. America had left democracy and capitalism decades ago through a slow transition that has converted itself into a socialist state. Most people never noticed because they were too busy watching Sunday NFL games or following the Kardashians.
In effect, when people claim democracy and capitalism has failed, they are dead wrong. If America is not a democratic country anymore, then democracy could not have been what failed.
What has failed is socialism — and America is paying the ultimate price for transitioning to it. This ultimate price is usually what erases empires.
For years, I have warned that we will face our worst nightmare – the collapse of socialism. In the death throes of this abomination that even the Ten Commandments listed as a serious sin, equal to “thou shalt not kill”, government will become the ugly beast that will devour society to retain power. Of course, they will never see themselves that way, but they will justify in their minds that stripping us of our freedom, rights, privileges, and immunities, is necessary to maintain socialism for the good of the people.
We are running out of other peoples’ money, as Margaret Thatcher warned. Karl Marx, who sought to change society by sheer force, set all this in motion. What has taken place is really scary, for indeed they have altered society far more than anyone dares to ponder. Continue reading
SAN FRANCISCO (MarketWatch) — So-called black-swan events are by definition highly improbable. But that hasn’t stopped the economists at Société Générale from attempting to identify a few scenarios that could blindside the market.
In its ‘Global Economic Outlook’ report released on Monday, SocGen listed six such unlikely events that pose the biggest threats. Those include a hard economic landing in China and the possibility of a referendum in the U.K. on whether to remain in the European Union. Continue reading
The second most senior Goldman Sachs executive has warned the world risks sowing the seeds of the next financial crisis through regulation aimed at making banks safer.
Gary Cohn, the global chief operating officer of the Wall St bank, today highlighted the risks of rules forcing banks to hold larger capital buffers so they can absorb bigger losses.
Speaking in Sydney, Mr Cohn said that in forcing banks to hold more capital, regulators risked encouraging the unregulated “shadow” banking sector, so it became the next problem. Continue reading
“The emotional side of me tends to imagine France, like the princess in the fairy stories or the Madonna in the frescoes, as dedicated to an exalted and exceptional destiny. Instinctively I have the feeling that Providence has created her either for complete successes or for exemplary misfortunes. Our country, as it is, surrounded by the others as they are, must aim high and hold itself straight, on pain of mortal danger. In short, to my mind, France cannot be France without greatness.
– Charles de Gaulle, from his memoirs
Recently there have been a spate of horrific train wrecks in the news. Almost inevitably we find out there was human error involved. Almost four years ago I began writing about the coming train wreck that was Europe and specifically Greece. It was clear from the numbers that Greece would have to default, and I thought at the time that Portugal would not be too far behind. Spain and Italy clearly needed massive restructuring. Part of the problem I highlighted was the significant imbalance between exports and imports in all of the above countries. Continue reading
Let the austerity backlash begin. Who knew that an excel error could cause so much social strife. Granted common sense would have got you there, but this is politics. German Finance Minister Schaeuble warned on Tuesday that unless Europe wins the battle against youth unemployment, revolution is a distinct possibility.
The dreaded r-word came about as some corners push to reform the welfare standards to closely correlate with American standards. This would be a monumental mistake according the German finance minister. Youth unemployment as it stands now across the EU is at 25%, double the rate of older citizens. Continue reading
Global Geopolitics 