Barack Obama may turn to private soldiers to wage war against the Islamic state. He has no real support to place American troops on the ground. He may turn to the use of private armies like Blackwater, which was renamed “Xe Services” in 2009, and “Academi” in 2011. The company was purchased in late 2010 by a […]

Artur Mas Prime Minister of Catalonia, cancelled the planned independence referendum in the northeastern Spain region. At a meeting with the Catalan party leaders, the Prime Minister announced on Monday in Barcelona officially, that the legal basis for such a vote on November 9th does not exist bowing to pressure from Brussels. The Spanish Constitutional Court had the […]

France’s Francois Hollande has come up with a brilliant idea. He want to satisfy EU rules not by reforming France, but by creating of a new EU investment fund of €300 billion euros. This fund should produce an annual flow of €10 billion euros for Paris. With the creation of such EU funds, France can avoid the necessary restructuring […]

Yes the Daily Bearish is at 16319. It appears we have penetrated the low of August 6th which was 16313. This warns that the correction has unfolded. Resistance will form tomorrow at 16634 followed by 16660. The 16324 area is a critical pivot point this week. We still see the primary support in the 15900 […]

  Support in the Dow today lies at 16,451. Weekly support begins at 16,170 and key support remains at 15,961. We really need a closing back ABOVE 17000 just to firm support. Otherwise, a bounce is likely with a turn back down into November.

  German debt has been the real play in Europe. The general view is the Euro will collapse and they will end up with Deutsche Marks. This does not appear to be a real trade. Nevertheless, this has driven German rates lower than the USA. We are seeing a correlation of dates for timing and […]

Putin orders pullback of Russian troops in Eastern Ukraine. Quite frankly, if I were Putin I would withdraw, demand the sanctions be lifted or I will invade. That would shift the burden to Obama to show that the sanctions were really for that reason and not for playing with energy for personal gain of those […]

The share prices of fracking companies have lost more than 20 percent since June. You just cannot trust politicians for there are always some connections that are outright conflicts of interest. The American position against Russia is so aggressive and energy seems to lay at the center. The son of Vice President Joe Biden works […]

The French Prime Minister Manuel Valls insists he will decide on France’s new debt budget without Brussels. These are fighting words, as they say, but they have no meaning: France is contractually obliged to meet EU criteria. Bypassing the rules is only possible with the agreement of Germany. Why anyone would even buy the Euro is […]

At the meeting of the IMF and the World Bank, we began to see for the first time some blow-back against Obama’s hand-picket lawyer masquerading as the world leading of international finance. There were significant rifts between supporters and opponents of new state investment programs that LaGarde and Obama are trying to pull off taking […]