US stock rally collapses amid fears of global slump

(What did I write the other day when the market flash-crashed? Oh yeah: ” I guess someone thought they needed some help getting another TARP bailout deal done (QE4 is meeting some resistance) and here we are.“)

from the WSWS

…Over the weekend, former US Treasury Secretary Lawrence Summers called for the Federal Reserve to abandon its plans to raise the federal funds rate for the first time in nearly nine years and instead extend its current policy of zero interest rates into the indefinite future.

Summers went further on Tuesday, tweeting that the Federal Reserve should consider further monetary expansion in response to the selloff. As the Financial Times put it, Summers “suggested… that the Fed should even consider another [quantitative easing] bond-buying programme.”

This sentiment was echoed in even more explicit terms by Ray Dalio, head of Bridgewater Associates, the world’s largest hedge fund, who predicted in a research note quoted by the Financial Times that the “next big Fed move will be to ease (via QE) rather than to tighten.”

[read more here]

‘Scapegoating’ China: Is US Fed to blame for market crisis or is Beijing ‘exporting pain’?

from RT

As stock markets continue their slide into negative territory, economists debate whether the problems lie in monetary mismanagement by the US Federal Reserve or with China’s domestic concerns “exporting pain” to others via its yuan devaluation.

Speaking to RT, economist Peter Schiff of Euro Pacific Capital Inc. said that there is a lot of “scapegoating” surrounding China and the yuan’s devaluation when it comes to the recent downward fortunes of global stock markets, but that the Federal Reserve is the more responsible culprit when it comes to any instability in the American economy.

“This is not about China. This problem is made in America. It’s all about the Fed. The Fed inflated this bubble and now they’re threatening to prick it. Everybody expects the Fed to actually raise interest rates,” Schiff said, after US stocks rallied early Tuesday before crashing in the final hour of trading.

He went on to say that he believes the possibility of the Fed raising rates is “a bluff,” and that doing so would trigger another financial crisis.

“If the Fed takes away the zero percent interest rates, this market is going to implode and we’re right back at recession… that is what is hurting markets around the world,” Schiff said. “It’s the fear of higher interest rates. That’s propping up the dollar, that’s depressing emerging markets, that’s depressing commodity markets.”

[read more here]

Ayn Rand Institute: Why GMOs are Good (video and commentary by Tom Kiely)

Intro by Scott Creighton – OpEd by Tom Kiely

Tom Kiely, a guy I am fortunate to do interviews with every now and again (including tonight at 7:30pm eastern) sent me an email in response to an earlier article of mine regarding the Ayn Rand Institute and their new book about feeling good about being a selfish asshole.

The info was fascinating. It was a video of a speech given by an Ayn Rand Institute fellow proclaiming her love for GMOs and Monsanto.

He included with that email a link to the video I post below as well as a rather interesting analysis of it he wrote himself.

I am posting his email below the video without asking him first but I don’t think he would mind, it’s good reading.

I’m sure we will be discussing it tonight during the interview.

Video and email from Tom after the break:

Continue reading

Imagine if We All Thought This Way and Acted On It

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@PrisonPlanet: White Oathkeepers in Ferguson to “Educate” Black Folks ಠ_ಠ

by Scott Creighton

“Despite the fact that the Oath Keepers (white guys) immediately began educating Ferguson demonstrators (black folks) on their constitutional rights and having constructive conversations about how the movement should be about unity and not race hate, the media jumped on their presence and instantly turned it into another opportunity for race baiting and division.” race-baiter and Islamaphobe, Paul Joseph Watson of Prison Planet

Last year around this time, Lying Joe Biggs along with his token black guy as cover, went down to Ferguson to show all of Prison Planet’s conservative, racist sheeple just how crazy all those black folks were who were rioting in the city. They played up the race-baiting angle so much, a couple of the protesters started confronting them in the streets calling them provocateurs and racists like so many of the other “journalists” from the MSM were. A couple of them got in Joe’s face and let him know what they thought of him, which of course he tried to milk for as much racist sympathy as he could at the time.

Yesterday, Lying Joe Biggs rushed down to Ferguson once again after the shooting took place Sunday. He along with so many other “journalists” were really hoping for an all out race-war to cover, which of course never happened, despite the best efforts of race-baiters like Joe’s buddy over at Prison Planet, Paul Joseph Watson.

Only this time, big brave ex-soldier Biggs (currently on assignment?)  didn’t go it alone. He took some mercs with him.

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Imperialist powers prepare another military intervention in Libya

from WSWS

A joint US-European mission to Libya involving soldiers from six countries is being hatched under the pretext of combating Islamic State in Iraq and Syria (ISIS) and with the aim of establishing a pliant pro-Western government and “stabilising” the country.

On August 1, the London Times reported, “Hundreds of British troops are being lined up to go to Libya as part of a major new international mission.” It stated that the UK soldiers would join “Military personnel from Italy, France, Spain, Germany and the United States…in an operation that looks set to be activated once the rival warring factions inside Libya agree to form a single government of national unity.”

It is part of an expansion of imperialist military interventions in the resource-rich Middle East and North Africa, coming on top of the war in Iraq and Syria, in which Britain and the other powers are pursuing their own geostrategic and commercial interests.

[read more here]

Hundreds of Civilians Credibly Reported Killed in First Year of Coalition Airstrikes, Airwars Study Finds

from Common Dreams

A six-month investigation into alleged civilian and ‘friendly fire’ deaths from Coalition airstrikes in Iraq and Syria has identified more than 120 incidents of concern to June 30th according to an Airwars report published today – three times more problem events than the Coalition itself was aware of.

Airwars believes that for 57 of these incidents, there is sufficient publicly-available evidence to indicate Coalition responsibility for civilian and friendly forces deaths. Between them these events account for 459-591 alleged civilian fatalities, and the reported deaths of 48-80 allied forces.

In stark contrast, the Coalition has investigated just ten incidents – and has so far conceded just two civilian deaths in thousands of airstrikes across Iraq and Syria since August 2014.

[read more here]

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