Why does this keep happening to America? Since the month of September, the United States has been absolutely pummeled by a devastating series of disasters, and this most recent one may be the worst of all. Right now, communities all along the Mississippi, Missouri and Arkansas rivers are dealing with “historic” flooding. In Missouri, it is being said that nobody “that is living has ever seen anything like this“, and it is being projected that rivers could reach levels not seen since “the Great Flood” of 1993. Portions of Interstate 44 have been totally shut down, and thousands of people have either already been evacuated from their homes or are preparing to evacuate. It would be difficult to overstate the utter devastation that we are witnessing. Personally, I have some very good friends in southern Missouri, and I will definitely be keeping them in my prayers.
The governor of Missouri, Jay Nixon, is warning people to be very careful. Thirteen people have already been killed by the flooding, and Nixon says that the waters are going “places they’ve never been before”…
Thirteen people in Missouri have died in floods caused by severe storms over the weekend, and although the rain has moved on, swollen rivers are still rising and won’t crest for days, Gov. Jay Nixon said.
“It’s very clear that Missouri is in the midst of a very historic and dangerous flooding event,” Nixon told reporters Tuesday. “The amount of rain we’ve received, in some places in excess of a foot, has caused river levels to not only rise rapidly, but to go to places they’ve never been before.”
A state of emergency was declared in Missouri on Monday, and yesterday Governor Nixon activated the National Guard. But the river is still rising, and the worst is yet to come.
At this point, some communities have already been totally wiped out. This includes the little town of Rockaway Beach, which is not too far away from Branson. The following comes from USA Today…
In Missouri, some areas have already been hit hard by the first wave of rising water. Rockaway Beach, located near Branson in southwest Missouri, was swamped by waters from the swollen White River.
The tourist town of 800 “has just been demolished,” Mayor Don Smith told KYTV. “It’s devastating, and we are all so exhausted.”
It is being reported that the Mississippi River is now a mile wide is some places, and there are debris piles that are up to two stories tall. Authorities are projecting that the flooding along some areas of the river will match or break all-time records that were set back in 1993…
In some parts of the Missouri, rivers are expected to crest as high as they did during devastating flooding in 1993, which is known as the “great flood,” Nixon said.
The National Weather Service predicted that the Mississippi River at Chester, Illinois, would crest at 49.7 feet Friday, matching the 1993 record, the governor’s office said. The Mississippi at Thebes was expected to crest Saturday at a record-breaking 47.5 feet.
The Mississippi River is expected to reach nearly 15 feet above flood stage on Thursday at St. Louis, which would be the second-worst flood on record, behind only the devastating 1993 flood.
What is happening in the center of the country right now is just the continuation of a trend that has been building for months. Just check out this list of flooding events that we have seen in the U.S. since the end of the summer…
-Moisture from Hurricane Joaquin caused the worst flooding in the history of the state of South Carolina.
-Flash flooding caused “rivers of mud” to cover highways in southern California.
-The remnants of Hurricane Patricia caused tremendous flooding in many parts of Texas.
-One of the strongest El Ninos ever recorded has sent an endless stream of storms barreling into coastal areas of Oregon and Washington. This has caused horrible flooding in some areas.
Meanwhile, we continue to witness a rise in earthquake activity as well.
Oklahoma, which had already shattered an all-time state record for earthquakes in 2015, was hit by a 4.3 magnitude earthquake yesterday.
And just within the last 24 hours, a 4.4 magnitude earthquake hit near San Bernardino, California, and a 4.8 magnitude earthquake shook northwestern Washington and Vancouver Island.
Also, let’s not forget all of the wildfires that have been happening. On Christmas Day, a massive 1,200 acre blaze erupted near Ventura, California, and that topped off a year during which wildfires burned more acres in America than ever before.
Of course I could also mention the extremely rare EF-4 tornado that ripped through Garland, Texas just a few days ago and the ongoing multi-year drought that is still plaguing most of the state of California.
On top of everything else, a huge solar storm is going to hit our planet on New Year’s Eve. Fortunately, authorities do not expect that it will do that much damage.
Nobody can deny that our weather is getting really, really crazy.
So precisely why is this happening?
There is certainly a lot of debate about this. It is almost as if someone flipped a switch in September and turned on a disaster machine, because since that time there has been an endless parade of major events.
Do you have a theory that can explain what we are witnessing?
If so, please feel free to share it with the rest of us by posting a comment below…
The list of nations around the globe that have collapsing economies just continues to grow. In recent weeks I have written about the ongoing saga in Greece, the stock market crash in China, the debt crisis in Puerto Rico and the economic meltdown in South America. But there are more economic flashpoints that I have not even addressed yet. For example, did you know that a full-blown economic collapse is happening in Iraq right now? And did you know that the economy of Ukraine is contracting rapidly and that it cannot pay its debts? Back in 2008, the financial crisis was primarily centered on the United States, but this time around it is turning out to be a truly global phenomenon.
When the U.S. “liberated” Iraq, the future for that nation was supposed to be incredibly bright. But instead, things have just gone from bad to worse. This has especially been true since we pulled our troops out and allowed ISIS to run buck wild. At this point unemployment in Iraq is at Great Depression levels, the economy is steadily contracting and government debt is spiraling wildly out of control…
But Iraq’s oil industry, and the government’s budget, is being squeezed by low oil prices. As a result, the nation’s finances are being hit hard: the market price is now half that needed to break even, expanding the budget deficit, forecast to return to balance until the rise of IS, to a projected 9% of GDP.
In the past, Iraq’s leaders approved budgets without seriously taking into account a drop in the price of oil. Now the severe revenue shortfall is forcing leaders to cut back on new investments. Russia’s Lukoil, Royal Dutch Shell, and Italy’s ENI are also cutting back, eyeing neighbouring Iran’s pending economic opening as a safer investment.
Despite improving its finances after the US troop withdrawal, the drop in oil prices and the rising costs of battling IS have pushed Iraq’s economy into a state of near-crisis. According to the IMF, the nation’s GDP shrank by 2.7% in 2014 and unemployment is estimated to be over 25%.
Things are even worse in another nation that was recently “liberated”. The new U.S.-friendly government in Ukraine was supposed to make things much better for average Ukrainians, but instead the economy is absolutely imploding…
The country’s GDP contracted by 6.8 percent last year, and is forecast to shrink by another 9 percent this year — a total loss of roughly 16 percent over two years.
Just like in much of southern Europe, the banks are absolutely overloaded with bad loans and the entire banking system is on the verge of total collapse. The following comes from a CNN article that was posted earlier this year…
Ukraine’s banking sector is one of the weakest parts of the economy. The key interest rates are the highest in 15 years, and experts estimate bad loans make up between one third and one half of all banking assets.
Over 40 banks have been declared bankrupt since the war began, with the country’s fourth largest lender, Delta Bank, going under earlier this week.
Just recently, the government of Ukraine declared that it could not pay its debts. We didn’t hear much about this in the United States, because the Obama administration wants us to believe that their policies over there are a success. But the truth is that Ukraine now needs a “debt restructuring deal” similar to what Greece has received in the past…
Progress between Ukraine and its creditors on a $19 billion restructuring may be losing momentum as a proposed high-level meeting was canceled amid further disagreements over terms.
Ukraine’s $2.6 billion of 2017 notes fell the most in a month after a person familiar with negotiations said a new offer put forward by Ukraine this week would be unacceptable to bondholders. Later on Wednesday, Ukraine’s Finance Ministry said that a Franklin Templeton-led creditor group should prepare an improved offer for meetings next week.
Speaking of Greece, things just continue to unravel over there. Earlier this week we witnessed the greatest one day stock market crash in Greek history, and there was more financial carnage on Wednesday. The following comes from the Economic Policy Journal…
For a second straight day, following the reopening of the Greek stock market, there were heavy losses in Greek banking stocks, with shares across the sector once again falling by about 30 percent, the bottom of their daily limit.
Bank of Piraeus and National Bank of Greece fell the most, falling by the daily limit of 30 percent t. Alpha Bank was 29.7 percent lower and Eurobank Ergasias lost 29.6 percent.
At this point you would have to be blind to not see what is happening.
A financial crisis is not just imminent – one is already starting to erupt all over the planet.
And none of us can say that we weren’t warned. In a recent piece, Bill Holter included a long list of ominous financial warnings that were issued over the past two years by either the IMF or the Bank for International Settlements…
July 2014 – BIS –BIS Issues Strong Warning on “Asset Bubbles”
July 2014 – IMF –Bloomberg: IMF Warns of Potential Risks to Global Growth
October 2014 – BIS –”No One Could Foresee this Coming”
October 2014 IMF Direct Blog — What Could Make $3.8 Trillion in global bonds go up in smoke?
October 2014 IMF Report –”Heat Wave”-Rising financial risk in the U.S.
***December 2014 – BIS –BIS Issues a new warning on markets
December 2014 – BIS —BIS Warnings on the U.S. Dollar
February 2015 – IMF – Shadow Banking — Another Warning from the IMF – This Time on “Shadow Banking”
March 2015 – Former IMF Peter Doyle – Don’t expect any warning on new crisis -Former IMF Peter Doyle: Don’t Expect any Early Warning from the IMF –
*** April 2015 IMF – Liquidity Shock –IMF Tells Regulators to Brace for Liquidity Shock
May 2015 BIS – Need New “Rules of the Game” –BIS: Time to Think about New Global Rules of the Game?
June 2015 BIS Credit Risk Report –BIS: New Credit Risk Management Report
June 2015 IMF (Jose Vinals) –IMF’s Vinals Says Central Banks May Have to be Market Makers
***BIS June 2015 (UK Telegraph) –The world is defenceless against the next financial crisis, warns BIS
July 2015 – IMF – Warns US the System is Still Vulnerable (no blog article) –IMF warns U.S.: Your financial system is (still) vulnerable
July 2015 – IMF – Warns Pension Funds Could Pose Systemic Risk (no blog article) –IMF warns pension funds could pose systemic risks to the US
Overall, there are currently 24 nations that are dealing with a major financial crisis right now, and there are another 14 nations that are right on the verge of one.
But even though a global financial crisis is already unfolding right in front of our eyes, there are people that come to my website every day and leave comments telling me that everything is going to be just fine.
So what do you think?
What do you believe the rest of this year will bring?
Please feel free to share your thoughts by posting a comment below…
As we move toward the second half of 2015, signs of financial turmoil are appearing all over the globe. In Greece, a full blown bank run is happening right now. Approximately 2 billion euros were pulled out of Greek banks in just the past three days, Barclays says that capital controls are “imminent” unless a debt deal is struck, and there are reports that preparations are being made for a “bank holiday” in Greece. Meanwhile, Chinese stocks are absolutely crashing. The Shanghai Composite Index was down more than 13 percent this week alone. That was the largest one week decline since the collapse of Lehman Brothers. In the U.S., stocks aren’t crashing yet, but we just witnessed one of the largest one week outflows of capital from the bond markets that we have ever witnessed. Slowly but surely, we are starting to see the smart money head for the exits. As one Swedish fund manager put it recently, everyone wants “to avoid being caught on the wrong side of markets once the herd realizes stocks are over-valued“.
I don’t think that most people understand how serious things have gotten already. In Greece, so much money has been pulled out of the banks that the European Central Bank admits that Greek banks may not be able to open on Monday…
The European Central Bank told a meeting of euro zone finance ministers on Thursday that it was not sure if Greek banks, which have been suffering large daily deposit outflows, would be able to open on Monday, officials with knowledge of the talks said.
Greek savers have withdrawn about 2 billion euros from banks over the past three days, with outflows accelerating rapidly since talks between the government and its creditors collapsed at the weekend, banking sources told Reuters.
All over social media, people are sharing photos of long lines at Greek ATMs as ordinary citizens rush to get their cash out of the troubled banks. Here is one example…
And if there is no debt deal by the end of this month, the Greek debt crisis is going to totally spin out of control and financial chaos will begin to erupt all over Europe. But instead of trying to be reasonable, EU president Donald Tusk “has delivered an ultimatum to Greece”, and it almost appears as if EU officials are more concerned about winning a power struggle than they are about averting financial catastrophe…
EU president Donald Tusk has delivered an ultimatum to Greece, claiming the country must ‘accept an offer or default’ at an emergency summit set for Monday – in a last-ditch effort to stop the debt-stricken nation crashing out of the euro.
‘We are close to the point where the Greek government will have to choose between accepting what I believe is a good offer of continued support or to head towards default,’ Mr Tusk said today.
His comments come as Greek Prime Minister Alexis Tsipras warned that his country’s exit from the eurozone would trigger the collapse of the single currency.
‘The famous Grexit cannot be an option either for the Greeks or the European Union,’ he said in an Austrian newspaper interview.
‘This would be an irreversible step, it would be the beginning of the end of the eurozone.’
While all of this has been going on, the obscene stock market bubble in China has started to implode. Just check out the following numbers from Zero Hedge…
As the carnage began last night in China we noted the extreme levels of volatility the major indices had experienced in recent weeks. By the close, things were ugly with the broad Shanghai Composite down a stunning 13.3% on the week – the most since Lehman in 2008 (with Shenzhen slightly better at down 12.8% and CHINEXT down a record-breaking 14.99%).
Under normal circumstances, numbers like these would be reason for a full-blown financial panic over in Asia. But these are not normal times. Even with these losses, stock prices in China are still massively overinflated. For example, USA Today is reporting that the median stock over in China is “trading at 95 times earnings”…
Margin debt in China has soared to a record $363 billion, according to Bloomberg, and the median stock in mainland China is now trading at 95 times earnings, which even tops the price-to-earnings multiple of 68 back at the 2007 peak.
That is absolutely ridiculous. When a stock is trading at 25 or 30 times earnings it is overpriced. So these numbers that are coming out of China are beyond crazy, and what this means is that Chinese stocks have much, much farther to fall before they get back to any semblance of reality.
Meanwhile, in the U.S. money is flowing out of bonds at a staggering pace. The following quote originally comes from Bank of America…
“High grade credit funds suffered their biggest outflow this year, and double the previous week (and also the biggest since June 2013). High yield outflows also jumped to $1.1bn, the biggest since the start of the year. However, government bond funds suffered the most amid the recent spike in volatility, with outflows surging to the highest weekly number on record ($2.7bn). This brings the total outflow from fixed income funds to almost $6bn over the last week, the highest since the Taper Tantrum and the third highest outflow ever.”
What this means is that big trouble is brewing in the bond markets. This is something that I warned about in my previous article entitled “Experts Are Warning That The 76 Trillion Dollar Global Bond Bubble Is About To Explode“.
For the moment, U.S. stocks are doing fine. But just about everyone can see that we in a massive financial bubble that could burst at any time. Presidential candidate Donald Trump says that what we are witnessing is a “big fat economic and financial bubble like you’ve never seen before”…
Yesterday during an interview on MSNBC, presidential candidate Donald Trump said he has some big names in mind for the Treasury secretary if he wins the White House. “I’d like guys like Jack Welch. I like guys like Henry Kravis. I’d love to bring my friend Carl Icahn.” He also opined on the economy and the stock market, admitting that the Fed has benefited people like him but that the economy and is in a “big fat economic and financial bubble like you’ve never seen before.“
Ron Paul also believes that this financial bubble is going to end very badly. Just check out what he told CNBC earlier this week…
Despite record highs in the market, former Rep. Ron Paul says the Fed’s easy money policies have left stocks and bonds are on the verge of a massive collapse.
“I am utterly amazed at how the Federal Reserve can play havoc with the market,” Paul said on CNBC’s “Futures Now” referring to Thursday’s surge in stocks. The S&P 500 closed less than 1 percent off its all-time high. “I look at it as being very unstable.”
In Paul’s eyes, “the fallacy of economic planning” has created such a “horrendous bubble” in the bond market that it’s only a matter of time before the bottom falls out. And when it does, it will lead to “stock market chaos.”
Yes, this financial bubble has persisted far longer than many believed possible, but all irrational bubbles eventually burst.
And you know what they say – the bigger they come the harder they fall.
When this gigantic financial bubble finally implodes, it is going to be absolutely horrifying, and the entire planet is going to be shocked by the carnage.
Barack Obama is secretly negotiating the largest international trade agreement in history, and the mainstream media in the United States is almost completely ignoring it. If this treaty is adopted, it will be the most important step toward a one world economic system that we have ever seen. The name of this treaty is “the Trans-Pacific Partnership”, and the text of the treaty is so closely guarded that not even members of Congress know what is in it. Right now, there are 12 countries that are part of the negotiations: the United States, Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. These nations have a combined population of 792 million people and account for an astounding 40 percent of the global economy. And it is hoped that the EU, China and India will eventually join as well. This is potentially the most dangerous economic treaty of our lifetimes, and yet there is very little political debate about it in this country.
Even though Congress is not being allowed to see what is in the treaty, Barack Obama wants Congress to give him fast track negotiating authority. What that means is that Congress would essentially trust Obama to negotiate a good treaty for us. Congress could vote the treaty up or down, but would not be able to amend or filibuster it.
Of course now the Republicans control both houses of Congress. If they are foolish enough to blindly give Barack Obama so much power, they should all immediately resign.
And it is critical that people understand that this is not just an economic treaty. It is basically a gigantic end run around Congress. Thanks to leaks, we have learned that so many of the things that Obama has deeply wanted for years are in this treaty. If adopted, this treaty will fundamentally change our laws regarding Internet freedom, healthcare, copyright and patent protection, food safety, environmental standards, civil liberties and so much more. This treaty includes many of the rules that alarmed Internet activists so much when SOPA was being debated, it would essentially ban all “Buy American” laws, it would give Wall Street banks much more freedom to trade risky derivatives and it would force even more domestic manufacturing offshore.
In other words, it is the treaty from hell.
In addition to imposing Obama’s vision for the world on 40 percent of the global population, it is also being described as a “Christmas wish-list for major corporations”. Of the 29 chapters in the treaty, only five of them actually deal with economic issues. The rest of the treaty deals with a whole host of other issues of great importance to the global elite.
The following list of issues addressed by this treaty is from a Malaysian news source…
• domestic court decisions and international legal standards (e.g., overriding domestic laws on both trade and nontrade matters, foreign investors’ right to sue governments in international tribunals that would overrule the national sovereignty)
• environmental regulations (e.g., nuclear energy, pollution, sustainability)
• financial deregulation (e.g., more power and privileges to the bankers and financiers)
• food safety (e.g., lowering food self-sufficiency, prohibition of mandatory labeling of genetically modified products, or bovine spongiform encephalopathy (BSE) or mad cow disease)
• Government procurement (e.g., no more buy locally produced/grown)
• Internet freedom (e.g., monitoring and policing user activity)
• labour (e.g., welfare regulation, workplace safety, relocating domestic jobs abroad)
• patent protection, copyrights (e.g., decrease access to affordable medicine)
• public access to essential services may be restricted due to investment rules (e.g., water, electricity, and gas)
Why can’t we get this type of reporting in the United States?
And if this treaty is ultimately approved by Congress, we will essentially be stuck with it forever.
This treaty is written in such a way that the United States will be permanently bound by all of the provisions and will never be able to alter them unless all of the other countries agree.
Are you starting to understand why this treaty is so dangerous?
This treaty is the key to Obama’s “legacy”. He wants to impose his will upon 40 percent of the global population in a way that will never be able to be overturned.
Of course Obama is touting this treaty as the path to economic recovery. He promises that it will greatly increase global trade, decrease tariffs and create more jobs for American workers.
But instead, it would be a major step toward destroying what is left of the U.S. economy.
Over the past several decades, every time a major trade agreement has been signed we have seen even more good jobs leave the United States.
And it doesn’t take a genius to figure out why this is happening. If corporations can move jobs to the other side of the planet to nations where it is legal to pay slave labor wages, they will make larger profits.
Just think about it. If you were running a corporation and you had the choice of paying workers ten dollars an hour or one dollar an hour, which would you choose?
Plus there are so many other costs, taxes and paperwork hassles when you deal with American workers. For example, big corporations will not have to provide Obamacare for their foreign workers. That alone will represent a huge savings.
Any basic course in economics will teach you that labor flows from markets where labor costs are high to markets where labor costs are lower. And at this point it costs less to make almost everything overseas. As a result, we have already lost millions upon millions of good jobs, and countless small and mid-size U.S. companies have been forced to shut down because they cannot compete with foreign manufacturers.
Later this month, consumers will flock to retail stores for “Black Friday” deals. But if you look carefully at those products, you will find that almost all of them are made overseas. We buy far, far more from the rest of the world than they buy from us, and that is a recipe for national economic suicide.
We consume far more wealth that we produce, and anyone with half a brain can see that is not sustainable in the long run. The only way that we have been able to maintain our high standard of living is by going into insane amounts of debt. We are currently living in the largest debt bubble in the history of the planet, and at some point the party is going to end.
Please share this article with as many people as you can. We need to inform people about what Obama is trying to do.
If Obama is successful in ramming this secret treaty through, it is going to do incalculable damage to what is left of the once great U.S. economy.
What would you say if I told you that Americans are nearly 60 TRILLION dollars in debt? Well, it is true. When you total up all forms of debt including government debt, business debt, mortgage debt and consumer debt, we are 59.4 trillion dollars in debt. That is an amount of money so large that it is difficult to describe it with words. For example, if you were alive when Jesus Christ was born and you had spent 80 million dollars every single day since then, you still would not have spent 59.4 trillion dollars by now. And most of this debt has been accumulated in recent decades. If you go back 40 years ago, total debt in America was sitting at about 2.2 trillion dollars. Somehow over the past four decades we have allowed the total amount of debt in the United States to get approximately 27 times larger. This is utter insanity, and anyone that thinks this is sustainable is completely deluded. We are living in the greatest debt bubble of all time, and there is no way that this is going to end well. Just check out the chart…
When the last recession hit, total debt in America actually started going down for a short period of time.
But then the Federal Reserve and our politicians in Washington worked feverishly to reinflate the bubble and they assured everyone that everything was going to be just fine. So Americans once again resorted to their free spending ways, and now total debt in the United States is rising at almost the same trajectory as before and has hit a new all-time record high.
We see a similar thing when we look at a chart for consumer debt in America…
For a while after the recession it was trendy to cut up your credit cards and get out of debt.
But that fad wore off rather quickly, didn’t it?
It is almost as if 2008 never happened. We are making the same mistakes with debt that we did before.
As I noted recently, total consumer credit in the U.S. has risen by 22 percent over the past three years alone, and at this point 56 percent of all Americans have a subprime credit rating.
And have you noticed that a lot of people are not afraid to extend themselves in order to buy shiny new vehicles these days?
During the first quarter 0f this year, the size of the average vehicle loan soared to a new all-time record high of $27,612.
Five years ago, that number was just $24,174.
And as I noted in one recent article, the size of the average monthly car payment in this country is now up to $474.
That is practically a mortgage payment.
Speaking of mortgage payments, even though home sales have been falling and the rate of homeownership in the United States is the lowest that it has been in 19 years, a very large percentage of those who own homes are still overextended.
In fact, one recent survey discovered that a whopping 52 percent of Americans cannot even afford the house that they are living in right now.
At the same time, an increasing number of Americans are acting as if the last financial crisis never happened and are treating their homes like piggy banks. Home equity loans are soaring again, and when the next great crisis strikes a lot of those people are going to end up getting into a lot of financial trouble.
There has been much written about what is wrong with the housing industry, but the truth is that home prices are still way too high and young adults cannot afford to purchase homes because they are already loaded down by huge amounts of debt even before they get to the point where they are ready to buy.
In fact, a newly released survey found that 47 percent of millennials are spending at least half of their paychecks on paying off debt…
Four in 10 millennials say they are “overwhelmed” by their debt — nearly double the number of baby boomers who feel that way, according to a Wells Fargo survey of more than 1,600 millennials between 22 and 33 years old, and 1,500 baby boomers between 49 and 59 years old.
To try to get out from underneath it, 47% said they spend at least half of their monthly paychecks on paying off their debts.
When I read that I was absolutely astounded.
Of course the biggest debt that many young adults are facing is student loan debt. According to the Federal Reserve, there is now more than 1.2 trillion dollars of student loan debt in this country, and about 124 billion dollars of that total is more than 90 days delinquent.
What we have done to our young people is shameful. We have encouraged them to sign up for a lifetime of debt slavery before they even understand what life is all about. The following is an excerpt from my previous article entitled “Is College A Waste Of Time And Money?“…
In America today, approximately two-thirds of all college students graduate with student loan debt, and the average debt level has been steadily rising. In fact, one study found that “70 percent of the class of 2013 is graduating with college-related debt – averaging $35,200 – including federal, state and private loans, as well as debt owed to family and accumulated through credit cards.”
That would be bad enough if most of these students were getting decent jobs that enabled them to service that debt.
But unfortunately, that is often not the case. It has been estimated that about half of all recent college graduates are working jobs that do not even require a college degree.
Considering what you just read, is it a surprise that half of all college graduates in America are still financially dependent on their parents when they are two years out of college?
According to the U.S. Census Bureau, only 36 percent of all Americans under the age of 35 own a home at this point. That is the lowest level that has ever been recorded.
And we are passing on to our young people the largest single debt in all of human history. Weighing in at 17.5 trillion dollars, the U.S. national debt is a colossal behemoth. And almost all of that debt has been accumulated over the past 40 years. In fact, 40 years ago the U.S. national debt was less than half a trillion dollars.
But this is just the beginning. As the Baby Boomer “demographic tsunami” washes through our economy, we are going to be facing a wave of red ink unlike anything we have ever contemplated before.
Meanwhile, the rest of the planet is drowning in debt as well.
As I wrote about the other day, the total amount of debt in the world has risen to a new all-time record high of $223,300,000,000,000.
Our “leaders” keep acting as if these debt levels can keep growing much faster than the overall level of economic growth indefinitely.
But anyone with even a shred of common sense knows that you can’t spend more money that you bring in forever.
At some point, a day of reckoning arrives.
2008 should have been a major wake up call that resulted in massive changes. But instead, our leaders just patched up the old system and reinflated the old bubbles so that they are now even larger than they were before.
They assure us that they know exactly what they are doing and that everything will be just fine.
Unfortunately, they are dead wrong.
Russia and China have just signed what is being called “the gas deal of the century”, and the two countries are discussing moving away from the U.S. dollar and using their own currencies to trade with one another. This has huge implications for the future of the U.S. economy, but the mainstream media in the United States is being strangely quiet about all of this. For example, I searched CNN’s website to see if I could find something about this gas deal between Russia and China and I did not find anything. But I did find links to “top stories” entitled “Celebs who went faux red” and “Adorable kid tugs on Obama’s ear“. Is it any wonder why the mainstream media is dying? If a particular story does not fit their agenda, they will simply ignore it. But the truth is that this new agreement between Russia and China is huge. It could end up fundamentally changing the global financial system, and not in a way that would be beneficial for the United States.
Russia and China had been negotiating this natural gas deal for ten years, and now it is finally done. Russia is the largest exporter of natural gas on the entire planet, and China is poised to become the world’s largest economy in just a few years. This new $400 billion agreement means that these two superpowers could potentially enjoy a mutually beneficial relationship for the next 30 years…
Russia reached a $400 billion deal to supply natural gas to China through a new pipeline over 30 years, a milestone in relations between the world’s largest energy producer and the biggest consumer.
President Vladimir Putin is turning to China to bolster Russia’s economy as relations sour with the U.S. and European Union because of the crisis in Ukraine. Today’s accord, signed after more than a decade of talks, will allow state-run gas producer OAO Gazprom (GAZP) to invest $55 billion developing giant gas fields in eastern Siberia and building the pipeline, Putin said.
It’s an “epochal event,” Putin said in Shanghai after the contract was signed. Both countries are satisfied with the price, he said.
Of course countries sell oil and natural gas to each other all the time. But what makes this deal such a potential problem for the U.S. is the fact that Russia and China are working on cutting the U.S. dollar out of the entire equation. Just check out the following excerpt from a recent article in a Russian news source…
Russia and China are planning to increase the volume of direct payments in mutual trade in their national currencies, according to a joint statement on a new stage of comprehensive partnership and strategic cooperation signed during high-level talks in Shanghai on Tuesday.
“The sides intend to take new steps to increase the level and expansion of spheres of Russian-Chinese practical cooperation, in particular to establish close cooperation in the financial sphere, including an increase in direct payments in the Russian and Chinese national currencies in trade, investments and loan services,” the statement said.
In my recent article entitled “De-Dollarization: Russia Is On The Verge Of Dealing A Massive Blow To The Petrodollar“, I warned about what could happen if the petrodollar monopoly ends. In the United States, our current standard of living is extremely dependent on the rest of the world continuing to use our currency to trade with one another. If Russia starts selling natural gas to China without the U.S. dollar being involved, that would be a monumental blow to the petrodollar. And if other nations started following the lead of Russia and China, that could result in an avalanche from which the petrodollar may never recover.
And it isn’t just the national governments of Russia and China that are discussing moving away from the U.S. dollar. For example, the second largest bank in Russia just signed a deal with the Bank of China “to pay each other in domestic currencies”…
VTB, Russia’s second biggest lender, has signed a deal with Bank of China, which includes an agreement to pay each other in domestic currencies.
“Under the agreement, the banks plan to develop their partnership in a number of areas, including cooperation on ruble and renminbi settlements, investment banking, inter-bank lending, trade finance and capital-markets transactions,” says the official VTB statement.
The deal underlines VTB Group’s growing interest in Asian markets and will help grow trade between Russia and China that are already close trading partners, said VTB Bank Management Board Vasily Titov.
You can almost feel the power of the U.S. dollar fading.
A few months ago, when I wrote about how China had announced that it no longer planned to stockpile more U.S. dollars, I speculated that it may be evidence that China planned to start making a big move away from the U.S. dollar.
Well, now China’s intentions have become even more clear.
The Chinese do not plan to allow the United States to indefinitely dominate the globe financially. In the long run, the Chinese plan to be the ones calling the shots, and that means that the power of the U.S. dollar must decline.
These days, instead of piling up mountains of U.S. currency, China has started accumulating hard assets instead. In the past, I have written about how China is rapidly stockpiling gold, and it turns out that the Chinese have also been very busy stockpiling oil as well…
China is stockpiling oil for its strategic petroleum reserve at a record pace, intervening on a scale large enough to send a powerful pulse through the world crude market.
The move comes as tensions mount in the South China Sea and the West prepares possible oil sanctions against Russia over the crisis in eastern Ukraine. Analysts believe China is quietly building up buffers against a possible spike in oil prices or disruptions in supply.
The International Energy Agency (IEA) said in its latest monthly report that China imported 6.81m barrels per day (bpd) in April, an all-time high.
Once upon a time, China was extremely dependent on the United States economically. The same was true with most of the rest of the world.
But now economic power has shifted so dramatically that nations such as Russia and China are realizing that they don’t really need to be dependent on the United States any longer.
And with each passing year, the relationship between Russia and China is becoming stronger. As Pepe Escobar recently observed, this emerging alliance is causing quite a bit of consternation in Washington…
And no wonder Washington is anxious. That alliance is already a done deal in a variety of ways: through the BRICS group of emerging powers (Brazil, Russia, India, China, and South Africa); at the Shanghai Cooperation Organization, the Asian counterweight to NATO; inside the G20; and via the 120-member-nation Non-Aligned Movement (NAM). Trade and commerce are just part of the future bargain. Synergies in the development of new military technologies beckon as well. After Russia’s Star Wars-style, ultra-sophisticated S-500 air defense anti-missile system comes online in 2018, Beijing is sure to want a version of it. Meanwhile, Russia is about to sell dozens of state-of-the-art Sukhoi Su-35 jet fighters to the Chinese as Beijing and Moscow move to seal an aviation-industrial partnership.
Meanwhile, the relationship that the U.S. has with both nations is quickly going sour. The crisis in Ukraine has caused relations with Russia to drop to the lowest point since the end of the Cold War, and now China is deeply offended by charges that Chinese military officers have been involved in cyberspying on the United States…
China on Tuesday warned the United States was jeopardizing military ties by charging five Chinese officers with cyberspying and tried to turn the tables on Washington by calling it “the biggest attacker of China’s cyberspace.”
China announced it was suspending cooperation with the United States in a joint cybersecurity task force over Monday’s charges that officers stole trade secrets from major American companies. The Foreign Ministry demanded Washington withdraw the indictment.
The testy exchange marked an escalation in tensions over U.S. complaints that China’s military uses its cyber warfare skills to steal foreign trade secrets to help the country’s vast state-owned industrial sector.
The divide between the East and the West is growing.
But the Obama administration has not figured out that we need the East more than they need us.
Right now, the number one U.S. export is U.S. dollars. Our massively inflated standard of living is very heavily dependent on the rest of the world using our currency to trade with one another and lending it to us at super low interest rates.
If the rest of the world quits playing our game, our debt-based financial system will quickly fall apart.
Unfortunately, nobody in the Obama administration seems to have much understanding of global economics, and they will probably continue to antagonize Russia and China.
In the end, the consequences for antagonizing them could end up being far greater than any of us ever imagined.
So much for “isolating” Russia. The Chinese government is publicly siding with Russia on the crisis in Ukraine, and that is very bad news for the United States. Not only does it mean that the U.S. is essentially powerless to do anything about the situation in Ukraine, it also means that Russia and China are starting to understand how much economic leverage that they really have. Yes, the Obama administration can threaten to slap “sanctions” on Russia or threaten to kick Russia “out of the G8“, but those actions would not actually hurt too much. On the other hand, Russia and China hold approximately 25 percent of all foreign-owned U.S. debt, and if they started massively dumping U.S. debt it could rapidly create a nightmare scenario. In addition, it is important to remember that Russia is the largest exporter of natural gas and the second largest exporter of oil in the world. And China now imports more oil than anyone else on the planet does, including the United States. If Russia and China got together and decided to kill the petrodollar, they could do it almost overnight. So when it comes to Ukraine, it is definitely not the United States that has the leverage.
If China and the rest of the world abandoned Russia over Ukraine, that would be one thing. But that is not happening at all. In fact, China has chosen to publicly stand with Russia on this issue. The following is from a Sky News article entitled “Russia And China ‘In Agreement’ Over Ukraine“…
Russian foreign minister Sergei Lavrov discussed Ukraine by telephone with his Chinese counterpart, Wang Yi, on Monday, and claimed they had “broadly coinciding points of view” on the situation there, according to a ministry statement.
And Chinese state news agency Xinhua is publicly rebuking the West for their handling of the Ukrainian crisis…
China’s state news agency Xinhua accused western powers of adopting a Cold War- like mindset towards Russia, trying to isolate Moscow at a time when much needed mediation is need to reach a diplomatic solution to the crisis in Crimea.
“Based on the fact that Russia and Ukraine have deep cultural, historical and economic connections, it is time for Western powers to abandon their Cold War thinking. Stop trying to exclude Russia from the political crisis they failed to mediate, and respect Russia’s unique role in mapping out the future of Ukraine,” Xinhua wrote in an opinion piece.
Apparently clueless as to how the geopolitical chips are falling, the Obama administration is busy planning all sorts of ways that it can punish Russia…
Behind the scenes, Obama administration officials are preparing a series of possible battle plans for a potential economic assault on Russia in response to its invasion of Ukraine, an administration source close to the issue told The Daily Beast. Among the possible targets for these financial attacks: everyone from high-ranking Russian military officials to government leaders to top businessmen to Russian-speaking separatists in Ukraine. It’s all part of the work to prepare an executive order now under consideration at the Obama administration’s highest levels.
Does the Obama administration really want to start an “economic war” with Russia and potentially against China as well?
Considering how much money we owe them, and considering the fact that we desperately need them to continue to use the petrodollar, we stand to lose far more than they do.
This is one of the reasons why I have always insisted that the national debt was a national security issue. By going into so much debt, we have given other nations such as Russia and China a tremendous amount of leverage over us.
Unfortunately, the debtmongers in Washington D.C. never have listened to common sense.
When it comes to Ukraine, there are other economic considerations as well.
For example, about 25 percent of the natural gas that Europe uses comes from Russia, and Ukraine only has about four months of natural gas supplies stockpiled.
If Russia cut off the natural gas, that would create some huge problems. Fortunately, winter is just about over or the Russians would have even more leverage.
In addition, Ukraine is one of the leading exporters of wheat and corn on the planet, and a disruption in the growing of those crops could make the emerging global food crisis even worse.
But of course the biggest concern is that the Ukraine crisis could ultimately spark a global war.
Unfortunately, there is a treaty that requires the United States to defend Ukraine if it is attacked…
President Bill Clinton, along with the British, signed in 1994 a nearly forgotten agreement to protect Ukraine’s borders. Ukraine now is appealing to the countries that signed the agreement.
As the British Daily Mail points out, it means that, technically, if Russia were to invade Ukraine, it would be difficult for the U.S. and Britain to avoid going to war.
Given that the late Russian president, Boris Yeltsin also signed it, it was apparent that it wasn’t expected that the Russians would take the action that Putin now is undertaking.
And top Ukrainian politicians are now asking western nations to come to the aid of Ukraine militarily…
Ukraine’s former prime minister Yulia Tymoshenko has appealed for the West to adopt ‘strongest means’ to intervene in Russia’s occupation of Crimea if diplomacy fails.
In an interview with CNN’s Christiane Amanpour, Tymoshenko, freed last week after the riots throughout the nation, said if Russia is allowed to ‘take away’ Crimea, life will change ‘practically everywhere in the world.’
She added: ‘Then we have to accept… an aggressor, can violate all the international agreements, take away territories, whenever she likes.’
On the other side, deposed Ukrainian President Viktor Yanukovych has formally requested that Russia militarily intervene in his nation…
Russia’s U.N. envoy said Monday that ousted Ukrainian President Viktor Yanukovych asked Russia to send troops to “establish legitimacy, peace, law and order, stability, and defending the people of Ukraine.” Russian Ambassador Vitaly Churkin read a letter from Yanukovych at the U.N. Security Council meeting.
“Ukraine is on the brink of civil war. In the country, there is chaos and anarchy. The life, the security and the rights of people, particularly in the southeast part in Crimea are being threatened. So under the influence of Western countries, there are open acts of terrorism and violence. People are being persecuted for language and political reasons,” the letter said. “So in this regard, I would call on the President of Russia, Mr. Putin, asking him to use the armed forces of the Russian Federation to establish legitimacy, peace, law and order, stability, and defending the people of Ukraine.”
And it is very important to note that Yanukovych would have never issued this letter if the Russian government has not asked him to.
So the stage is set.
Russia has already grabbed Crimea, and it is eyeing other territories in eastern Ukraine.
China is publicly backing Russia, and collectively they have a tremendous amount of economic leverage.
The Obama administration is barking loudly about what Russia has done, but the reality is that the U.S. has very little economic leverage at this point.
What the U.S. does have is the strongest military on the entire planet, but let us hope and pray that Obama does not decide to get the U.S. military involved in Ukraine. That would be absolutely disastrous.
In the end, the U.S. has no good options in Ukraine. The Obama administration helped aid and organize the violent revolution that overthrew the Ukrainian government, and now we have a giant mess.
Nobody is quite sure what comes next, but one thing is certain…
The relationship between the United States and Russia will never, ever be the same again.
Someone wants to get the United States into a war with Syria very, very badly. Cui bono is an old Latin phrase that is still commonly used, and it roughly means “to whose benefit?” The key to figuring out who is really behind the push for war is to look at who will benefit from that war. If a full-blown war erupts between the United States and Syria, it will not be good for the United States, it will not be good for Israel, it will not be good for Syria, it will not be good for Iran and it will not be good for Hezbollah. The party that stands to benefit the most is Saudi Arabia, and they won’t even be doing any of the fighting. They have been pouring billions of dollars into the conflict in Syria, but so far they have not been successful in their attempts to overthrow the Assad regime. Now the Saudis are trying to play their trump card – the U.S. military. If the Saudis are successful, they will get to pit the two greatest long-term strategic enemies of Sunni Islam against each other – the U.S. and Israel on one side and Shia Islam on the other. In such a scenario, the more damage that both sides do to each other the happier the Sunnis will be.
There would be other winners from a U.S. war with Syria as well. For example, it is well-known that Qatar wants to run a natural gas pipeline out of the Persian Gulf, through Syria and into Europe. That is why Qatar has also been pouring billions of dollars into the civil war in Syria.
So if it is really Saudi Arabia and Qatar that want to overthrow the Assad regime, why does the United States have to do the fighting?
Someone should ask Barack Obama why it is necessary for the U.S. military to do the dirty work of his Sunni Muslim friends.
Obama is promising that the upcoming attack will only be a “limited military strike” and that we will not be getting into a full-blown war with Syria.
The only way that will work is if Syria, Hezbollah and Iran all sit on their hands and do nothing to respond to the upcoming U.S. attack.
Could that happen?
Let’s hope so.
But if there is a response, and a U.S. naval vessel gets hit, or American blood is spilled, or rockets start raining down on Tel Aviv, the U.S. will then be engaged in a full-blown war.
That is about the last thing that we need right now.
The vast majority of Americans do not want to get embroiled in another war in the Middle East, and even a lot of top military officials are expressing “serious reservations” about attacking Syria according to the Washington Post…
The Obama administration’s plan to launch a military strike against Syria is being received with serious reservations by many in the U.S. military, which is coping with the scars of two lengthy wars and a rapidly contracting budget, according to current and former officers.
Having assumed for months that the United States was unlikely to intervene militarily in Syria, the Defense Department has been thrust onto a war footing that has made many in the armed services uneasy, according to interviews with more than a dozen military officers ranging from captains to a four-star general.
For the United States, there really is no good outcome in Syria.
If we attack and Assad stays in power, that is a bad outcome for the United States.
If we help overthrow the Assad regime, the rebels take control. But they would be even worse than Assad. They have pledged loyalty to al-Qaeda, and they are rabidly anti-American, rabidly anti-Israel and rabidly anti-western.
So why in the world should the United States get involved?
This war would not be good for Israel either. I have seen a number of supposedly pro-Israel websites out there getting very excited about the prospect of war with Syria, but that is a huge mistake.
Syria has already threatened to attack Israeli cities if the U.S. attacks Syria. If Syrian missiles start landing in the heart of Tel Aviv, Israel will respond.
And if any of those missiles have unconventional warheads, Israel will respond by absolutely destroying Damascus.
And of course a missile exchange between Syria and Israel will almost certainly draw Hezbollah into the conflict. And right now Hezbollah has 70,000 rockets aimed at Israel.
If Hezbollah starts launching those rockets, thousands upon thousands of innocent Jewish citizens will be killed.
So all of those “pro-Israel” websites out there that are getting excited about war with Syria should think twice. If you really are “pro-Israel”, you should not want this war. It would not be good for Israel.
If you want to stand with Israel, then stand for peace. This war would not achieve any positive outcomes for Israel. Even if Assad is overthrown, the rebel government that would replace him would be even more anti-Israel than Assad was.
War is hell. Ask anyone that has been in the middle of one. Why would anyone want to see American blood spilled, Israeli blood spilled or Syrian blood spilled?
If the Saudis want this war so badly, they should go and fight it. Everyone knows that the Saudis have been bankrolling the rebels. At this point, even CNN is openly admitting this…
It is an open secret that Saudi Arabia is using Jordan to smuggle weapons into Syria for the rebels. Jordan says it is doing all it can to prevent that and does not want to inflame the situation in Syria.
And Assad certainly knows who is behind the civil war in his country. The following is an excerpt from a recent interview with Assad…
Of course it is well known that countries, such as Saudi Arabia, who hold the purse strings can shape and manipulate them to suit their own interests.
Ideologically, these countries mobilize them through direct or indirect means as extremist tools. If they declare that Muslims must pursue Jihad in Syria, thousands of fighters will respond. Financially, those who finance and arm such groups can instruct them to carry out acts of terrorism and spread anarchy. The influence over them is synergized when a country such as Saudi Arabia directs them through both the Wahhabi ideology and their financial means.
And shortly after the British Parliament voted against military intervention in Syria, Saudi Arabia raised their level of “defense readiness” from “five” to “two” in a clear sign that they fully expect a war to happen…
Saudi Arabia, a supporter of rebels fighting to topple President Bashar al-Assad, has raised its level of military alertness in anticipation of a possible Western strike in Syria, sources familiar with the matter said on Friday.
The United States has been calling for punitive action against Assad’s government for a suspected poison gas attack on a Damascus suburb on August 21 that killed hundreds of people.
Saudi Arabia’s defense readiness has been raised to “two” from “five”, a Saudi military source who declined to be named told Reuters. “One” is the highest level of alert.
And guess who has been supplying the rebels in Syria with chemical weapons?
According to Associated Press correspondent Dale Gavlak, it has been the Saudis…
Syrian rebels in the Damascus suburb of Ghouta have admitted to Associated Press correspondent Dale Gavlak that they were responsible for last week’s chemical weapons incident which western powers have blamed on Bashar Al-Assad’s forces, revealing that the casualties were the result of an accident caused by rebels mishandling chemical weapons provided to them by Saudi Arabia.
“From numerous interviews with doctors, Ghouta residents, rebel fighters and their families….many believe that certain rebels received chemical weapons via the Saudi intelligence chief, Prince Bandar bin Sultan, and were responsible for carrying out the (deadly) gas attack,” writes Gavlak.
And this is someone that isn’t just fresh out of journalism school. As Paul Joseph Watson noted, “Dale Gavlak’s credibility is very impressive. He has been a Middle East correspondent for the Associated Press for two decades and has also worked for National Public Radio (NPR) and written articles for BBC News.”
The Voice of Russia has also been reporting on Gavlak’s bombshell findings…
The rebels noted it was a result of an accident caused by rebels mishandling chemical weapons provided to them.
“My son came to me two weeks ago asking what I thought the weapons were that he had been asked to carry,” said Abu Abdel-Moneim, the father of a rebel fighting to unseat Assad, who lives in Ghouta.
As Gavlak reports, Abdel-Moneim said his son and 12 other rebels died in a weapons storage tunnel. The father stated the weapons were provided to rebel forces by a Saudi militant, known as Abu Ayesha, describing them as having a “tube-like structure” while others were like a “huge gas bottle.”
“They didn’t tell us what these arms were or how to use them,” complained a female fighter named ‘K’. “We didn’t know they were chemical weapons. We never imagined they were chemical weapons.”
“When Saudi Prince Bandar gives such weapons to people, he must give them to those who know how to handle and use them,” she warned. She, like other Syrians, do not want to use their full names for fear of retribution.
Gavlak also refers to an article in the UK’s Daily Telegraph about secret Russian-Saudi talks stating that Prince Bandar threatened Russian President Vladimir Putin with terror attacks at next year’s Winter Olympics in Sochi if Russia doesn’t agree to change its stance on Syria.
“Prince Bandar pledged to safeguard Russia’s naval base in Syria if the Assad regime is toppled, but he also hinted at Chechen terrorist attacks on Russia’s Winter Olympics in Sochi if there is no accord,” the article stated.
“I can give you a guarantee to protect the Winter Olympics next year. The Chechen groups that threaten the security of the games are controlled by us,” Saudi Prince allegedly told Vladimir Putin.
Yes, the Saudis were so desperate to get the Russians to stand down and allow an attack on Syria that they actually threatened them. Zero Hedge published some additional details on the meeting between Saudi intelligence chief Prince Bandar bin Sultan and Russian President Vladimir Putin…
Bandar told Putin, “There are many common values and goals that bring us together, most notably the fight against terrorism and extremism all over the world. Russia, the US, the EU and the Saudis agree on promoting and consolidating international peace and security. The terrorist threat is growing in light of the phenomena spawned by the Arab Spring. We have lost some regimes. And what we got in return were terrorist experiences, as evidenced by the experience of the Muslim Brotherhood in Egypt and the extremist groups in Libya. … As an example, I can give you a guarantee to protect the Winter Olympics in the city of Sochi on the Black Sea next year. The Chechen groups that threaten the security of the games are controlled by us, and they will not move in the Syrian territory’s direction without coordinating with us. These groups do not scare us. We use them in the face of the Syrian regime but they will have no role or influence in Syria’s political future.”
It is good of the Saudis to admit they control a terrorist organization that “threatens the security” of the Sochi 2014 Olympic games, and that house of Saud uses “in the face of the Syrian regime.” Perhaps the next time there is a bombing in Boston by some Chechen-related terrorists, someone can inquire Saudi Arabia what, if anything, they knew about that.
But the piece de resistance is what happened at the end of the dialogue between the two leaders. It was, in not so many words, a threat by Saudi Arabia aimed squarely at Russia:
As soon as Putin finished his speech, Prince Bandar warned that in light of the course of the talks, things were likely to intensify, especially in the Syrian arena, although he appreciated the Russians’ understanding of Saudi Arabia’s position on Egypt and their readiness to support the Egyptian army despite their fears for Egypt’s future.
The head of the Saudi intelligence services said that the dispute over the approach to the Syrian issue leads to the conclusion that “there is no escape from the military option, because it is the only currently available choice given that the political settlement ended in stalemate. We believe that the Geneva II Conference will be very difficult in light of this raging situation.”
At the end of the meeting, the Russian and Saudi sides agreed to continue talks, provided that the current meeting remained under wraps. This was before one of the two sides leaked it via the Russian press.
Are you starting to get the picture?
The Saudis are absolutely determined to make this war happen, and they expect us to do the fighting.
And Barack Obama plans to go ahead and attack Syria without the support of the American people or the approval of Congress.
According to a new NBC News poll that was just released, nearly 80 percent of all Americans want Congress to approve a strike on Syria before it happens.
And according to Politico, more than 150 members of Congress have already signed letters demanding that Obama get approval from them before attacking Syria…
Already Thursday, more than 150 members of Congress have signaled their opposition to airstrikes on Syria without a congressional vote. House members circulated two separate letters circulated that were sent to the White House demanding a congressional role before military action takes place. One, authored by Rep. Scott Rigell (R-Va.), has more than 150 signatures from Democrats and Republicans. Another, started by Rep. Barbara Lee (D-Calif.), is signed by 53 Democrats, though many of them also signed Rigell’s letter.
But Obama has already made it perfectly clear that he has no intention of putting this before Congress.
He is absolutely determined to attack Syria, and he is not going to let the U.S. Congress or the American people stop him.
Let’s just hope that he doesn’t start World War III in the process.