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Messages - maija

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Forgive my ego/vanity, but I would point out I have been questioning here the Chinese miracle for a number of years now-- including for shoddy, dishonest bookkeeping and bubble dynamics.

Marc

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Politics & Religion / GM called it
« on: October 09, 2011, 04:56:56 PM »
SPECIAL INTELLIGENCE REPORT: VIOLENCE IN CAIRO

Violence has broken out in Cairo, beginning today at about 8 p.m. Demonstrators
outside the state television station began firing on soldiers patrolling the area,
according to reports from government sources. Two soldiers were reported dead and 25
soldiers were reported wounded so far. Other reliable reports say that multiple
vehicle fires have broken out and that tear gas is being fired by the police at the
crowd. Demonstrations are also under way at Tahrir Square.

Given elections scheduled for November, and the apparent magnitude of the violence,
it would appear that this event is highly significant. We expect details and
analysis to evolve as the events unfold.

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Politics & Religion / Re: Political Economics
« on: October 07, 2011, 10:06:12 AM »
Very good post from GM-- in a similar vein to what I just posted in the American Creed thread, good posts from Doug too.

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Politics & Religion / Re: The Way Forward for the American Creed
« on: October 07, 2011, 09:59:34 AM »
Just a quick yip to say that IMHO we are missing an opportunity with the response of our side to the Occupy Wall Street demonstrations.  Instead of focusing on the anti-free market element, I would focus on the correct anger at bailouts of some people, bank, and businesses that have acted very badly and communicate that what we see here is the natural result of the progressive/liberal fascist ideology.

Marc

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Politics & Religion / Re: Rules of the Road/Fire Hydrant
« on: October 07, 2011, 09:53:26 AM »
I should mention that the posts just now under Maija's name are from me, Marc

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Politics & Religion / Wesbury begins to claim affirmation
« on: October 07, 2011, 09:52:22 AM »
Non-farm payrolls were up 103,000 in September To view this article, Click Here

Brian S. Wesbury - Chief Economist
 Robert Stein, CFA - Senior Economist

Date: 10/7/2011






Non-farm payrolls were up 103,000 in September and up 202,000 including revisions to
July/August. The consensus expected a gain of 60,000.
Private sector payrolls increased 137,000 in September.  Revisions to July/August
added 42,000, bringing the net gain to 179,000.  September gains were led by
professional & business services (+48,000), health care (+44,000), telecomm
(+38,000, due to the end of the Verizon strike), and non-residential construction
(+30,000).  The biggest decline was manufacturing (-13,000).
 
The unemployment rate remained unchanged at 9.1%.
 
Average weekly earnings – cash earnings, excluding benefits – increased
0.5% in September and are up 2.1% versus a year ago.
 
Implications:  The employment report for September shows, without a shadow of a
doubt, that the US economy is not in recession. Including upward revisions for July
and August, nonfarm payrolls increased 202,000. That easily beat consensus
expectations of a 60,000 gain and is a solid gain even if we exclude the 45,000
workers who ended a strike with Verizon. In addition, the number of weekly hours per
worker increased to 34.3 from 34.2 in August, which is the equivalent of 320,000
jobs. But the good news does not stop there. Civilian employment, an alternative
measure of jobs that factors in small business start-ups, increased 398,000. This
was enough to keep the unemployment rate at 9.1% despite a 423,000 gain in the size
of the labor force, the largest increase in more than a year. Very quietly, without
any fanfare, private sector payrolls have grown by 1.8 million in the past year,
while the workweek has lengthened and hourly cash wages are up 1.9%. A 9.1%
unemployment rate means the labor market is still far from operating at its full
potential, but it is moving in the right direction as are other data. September
chain store sales were up 5.5% versus a year ago, according to the International
Council of Shopping Centers. This includes luxury department store sales up 10.4%.
Meanwhile, core railcar loadings are up 5.7% versus a year ago, according to data
from the Association of American Railroads. Initial claims for unemployment
insurance increased 6,000 last week to 401,000. But continuing claims for regular
state benefits declined 52,000 to 3.70 million. Investors have been grossly misled
about the odds of a recession.


7
Politics & Religion / troops to stay in Kurdistan?
« on: October 07, 2011, 09:48:13 AM »
STRATFOR
---------------------------
October 7, 2011


WEIGHING AN EXTENDED U.S. PRESENCE IN IRAQI KURDISTAN

Kurdish officials in northern Iraq on Wednesday raised the possibility of some 1,500
U.S. troops remaining stationed at the airport in the contested city of Kirkuk past
January 2012, the deadline for all American military forces to withdraw from the
country under the current U.S.-Iraq Status of Forces Agreement.

"What is at stake for Washington is not the fate of Iraqi Kurds, but the most
powerful means of leverage the United States has left in Iraq: its military
presence."

Washington has been pushing for an agreement that would keep U.S. troops in Iraq
past the deadline as a way to counter Iran, and some Iraqi factions would also like
to see an extended U.S. presence for their own reasons -- especially the Kurds, who
see the prospect of U.S. troops in northern Iraq as a way to ensure Kurdish
autonomy. However, other Iraqi factions, many of which are influenced by Iran, have
thus far been successful in preventing any such accord from being struck. Given the
fractious nature of Iraqi politics and the logistical requirements for removing
forces by the deadline, the longer these factions delay an extension, the more
difficult it becomes to enact one.

What is at stake for Washington is not the fate of Iraqi Kurds, but the most
powerful means of leverage the United States has left in Iraq: its military
presence. The U.S. State Department plans to maintain the largest embassy in the
world in Baghdad and the Iraqi government will continue to accept American aid and
military hardware (as well as the contractors necessary to maintain it). But neither
the diplomatic presence nor U.S. aid and equipment can provide the deterrent to Iran
that military forces stationed in the country could, and the removal of troops will
inevitably erode U.S. influence, along with situational awareness and
intelligence-gathering capabilities. In addition, the advisory and assistance
support the U.S. military has provided its Iraqi counterpart in areas of planning,
logistics, intelligence and air sovereignty (among others) will be denied, meaning
that Iraqi security forces will be somewhat less capable, particularly in the near
term.

By invading in 2003, the United States destroyed the Iranian-Iraqi balance of power
that had defined American foreign policy in the region since the fall of the Shah in
1979, and the Iraq of today is not capable of containing and counterbalancing Iran.
This is not a problem that can be solved by military force, or at least by the
military force the United States is willing to keep committed to the region. Because
of this, a political accommodation and understanding with Iran is necessary. The
question is about the terms of that accommodation and understanding, and at the
moment the U.S. negotiating position is weak. Some sort of residual American
military presence in Iraq is ultimately intended to buy time for the American
negotiating position to improve while attempting to provide allies and partners in
the region like Saudi Arabia enough reason to stay with Washington instead of
reaching an independent accommodation with Iran on Iranian terms.

This is the context in which any residual American military presence in Iraq must be
understood. That presence -- however it is officially described -- could be
composed, equipped and positioned to serve as a credible conventional blocking force
in coordination with U.S. forces stationed in Kuwait (though this looks increasingly
unlikely). Alternately, the remaining U.S. forces could take the shape of a training
mission with very limited applicability to the larger strategic problem
(particularly if it is limited to 1,500 troops in Kirkuk). Either way, it will be
vulnerable to attack by Iranian proxies while failing to address the real means of
Iranian power in the region -- its extensive network of covert operatives that are
able to move quite freely across the Persian Gulf region.

The United States wants to prevent Tehran from filling the power vacuum that would
be left in Iraq after the withdrawal until other means of leverage can be brought to
bear against Iran -- ideally when most U.S. and allied forces have also withdrawn
from Afghanistan and the global economy is not being held hostage to skirmishes in
the Strait of Hormuz. A residual military presence can be can be composed in ways
that make it  better- or worse-suited to deal with this, but it cannot solve the
underlying problem of Iranian power in the region.


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