The big news story this week has been the atrocities being committed in Iraq by ISIS, the Islamist terrorist army that’s now calling itself the Islamic State. This group already threatened to destroy the Free Syrian Army that’s fighting against dictator Bashar al Assad; now it seems determined to carry out a new Holocaust against everyone who doesn’t follow its narrow religious views. The territory they’ve gained has large populations of religious minorities, including thousands of Yazidis – members of a sect the Islamists believe are Satanists (they’re not). The latest news is that, in a scene straight out of the Middle Ages, the trapped Yazidis have been told to convert to “proper” Islam or die.
This week has been an alarming one for equities traders; after weeks of steady progress a selloff dramatically reversed the Dow Jones Industrial Average, wiping out all its gains for this year and leaving it in negative territory. For many investors this all came as a very unwelcome surprise – but some analysts say the signs were there for anyone who recognized them.
Tracking the ups and downs of the stock market since 1970 it’s possible to identify three red flags that, when they all show up together, are always followed by a drop of at least 20 percent. This has happened six times in the last 44 years and every time they’ve been followed by a bear market. It’s not likely to be coincidence either because the connection holds both ways – every bear market has been preceded by these signs. Once they appear the average time before the market starts to fall is about a month, and that ties in well with what just happened.
It’s been obvious since his first day in office that Barack Hussein Obama has a disturbing degree of sympathy for Muslims and Islam, but that’s really shown up this week. Right now the USA’s only real ally in the Middle East, Israel, is fighting back against an attack by the terrorist organization Hamas. In the past, whenever Israel has been threatened by groups bent on a new Holocaust, America has been ready and willing to stand shoulder to shoulder with them. That’s not what’s happening now.
At 4:00am local time on September 1, 1983 Korean Airlines Flight 007 took off from Anchorage for the last leg of its flight from New York to Seoul. Not long into the flight an issue with the navigation system nudged the 747’s course to the west, finally bringing it into the Soviet Air Defense Identification Zone (ADIZ). Just under six hours after it left Anchorage a Soviet interceptor climbed into position behind it and fired a single missile, smashing the airliner and all 269 people on board into the icy water of the North Pacific.
The US government’s response was rapid. Within hours Secretary of State George Schultz held a press conference revealing details of what had happened and denouncing the Soviet government in the strongest terms. Days later President Reagan referred to it as a “massacre” and “a crime against humanity”. Right from the start there was no doubt about the position of the USA; even at the tensest point of the Cold War the administration as willing to stand up and lay the blame squarely on the perpetrators in the Kremlin.
The most closely guarded building in Israel isn’t the Knesset building, the Western Wall or IDF headquarters. It’s not the prime minister’s house, the central bank or the home of the Mossad intelligence agency. In fact it’s a research institute at Dimona in the Negev desert. Dimona is where Israel designs and produces her ultimate deterrent, the striking force of nuclear-tipped missiles that guarantee the Jewish state’s ability to strike back against any new Holocaust. Because Israel’s best brains and most powerful weapons are there Dimona is ringed by the best technology the country can deploy and protected by an elite guard force of specially trained commandos. It’s almost immune to attack.
It’s been a better week for the US dollar against the other major currencies. After a rocky start against the Euro that saw the dollar fall to €0.7302 it rallied well and climbed steadily for the rest of the period, ending at €0.736. That’s a modest gain but since Tuesday the trend has been in the right direction for importers and currency investors. A generally improved position led to a four-day rise on Bloomberg’s dollar spot index, the longest sustained climb since May. Overall the dollar climbed against 13 out of 16 major global currencies.
The main driver behind the dollar’s rise looks to be the recent labor market figures. These were better than expected, showing that June continued the five-month trend of falling unemployment. Yet again more than 200,000 new jobs were created through the month, making more than 1.4 million since the start of the year, and that’s quickened speculation that the Federal Reserve may bring forward its long-anticipated interest rate rise. Goldman Sachs believe that the lackluster recovery is now accelerating, and if the Fed share that view a rate increase is a real possibility. The release of their last Open Market Committee meeting later this week should give some clues about their thinking, and that could sustain the dollar’s rise. There’s a widespread feeling among analysts, both at home and abroad, that the American economy has weathered the crisis and is set for expansion; a positive outlook usually leads to rate rises.
There are dissenters from that view, including the International Monetary Fund. Director Christine Lagarde has just revised the IMF’s expansion forecasts downwards to account for continuing weak investment and she believes there are still risks for the USA, but at this point her opinion is a minority one.
A 19-month-old boy is in a medically induced coma after a 3am SWAT raid on his aunt’s home. Alecia Phonesavanh was visiting her sister in law in Habersham County, Georgia, when the local police decided to arrest her cousin on suspicion of selling $50 worth of marijuana. This minor crime apparently warranted a full-scale assault by armed police that ended with a stun grenade being thrown into the crib where Alecia’s son was sleeping. The blast left the toddler with serious burns and injuries to his face and chest – wounds that may prove fatal.
The world is a constant mass of evolving events. The media- being one of such events is also constantly evolving from the olden forms of news coverage and getting into the super digital era where you will have news as they happen. As generations have come and gone, growing more tech savvy than the previous, this has led to the media developing some better form and ways to access news such as use of television sets, newspapers and mobile devices. Moreover, today you can access news over the internet, a feature that is undoubtedly a major breakthrough in the media industry.
Many political observers have noted that Libertarians tend to be staunch advocates of gold and silver values. But it may be worthwhile for people to investigate why these commodities have proven to be so popular for many people out on the market. Investors from all fields are starting to realize that these commodities will retain their value throughout the course of a few different economic issues over time. It may be helpful to get an overview of the different types of advantages that gold and silver can provide to investors. This will be a worthwhile asset for owners to consider trying out for themselves. Some Libertarians support the use of gold and silver bullion because it is in line with their own unique political beliefs. This could be a worthwhile consideration for many people to keep in mind going forward. Fund owners may appreciate the opportunity to support trading stable commodities. Before running down to your local coin shop to buy gold bars, it might be good to have a look at some of the pros and cons to this libertarian viewpoint.