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 Forecasting America's Destiny ... and the World's


Generational Dynamics Web Log for 19-Sep-2013
19-Sep-13 World View -- Fed surprises Wall Street by continuing massive money-printing

Web Log - September, 2013

19-Sep-13 World View -- Fed surprises Wall Street by continuing massive money-printing

Anti-Golden Dawn protests across Greece turn violent

This morning's key headlines from

Fed surprises Wall Street by continuing massive money-printing

Fed Chairman Ben Bernanke on Wednesday, announcing postponement of 'tapering' (AP)
Fed Chairman Ben Bernanke on Wednesday, announcing postponement of 'tapering' (AP)

The Federal Reserve has been pouring vast amounts of money into the banking system since 2011, at the rate of $85 billion per month. This money has been making its way into the stock market, artificially pushing stock prices to astronomically high levels. But many analysts, including some of the Fed governors, are demanding that this has to end, since it's creating massive distortions in the economy. Fed chairman Ben Bernanke himself has even suggested that the Fed would begin "tapering" this month, meaning that it would begin to reduce the $85 billion, bit by bit, possibly starting with a reduction to $75 billion in September. So the financial community was shocked on Wednesday when Bernanke issued a statement that no "tapering" would occur at this time. It's thought that the Fed committee is so concerned about the fragility of the economy so much that even a small reduction in tapering might cause a substantial collapse of the stock market. As things stand, the promise of continuing the full $85 billion per month caused the stock market to skyrocket to record highs, and interest rates (yields) on 10-year U.S. Treasury bonds fell sharply after the announcement. Generational Dynamics predicts that Wall Street stocks will fall to the Dow 3000 level or below. AP

U.N. report contains calculations implicating Syria's regime

The U.N. chemical weapons team that inspected the site of the August 21 sarin gas attack in the Damascus suburbs in Syria was forbidden, at the insistence of Russia, of determining who was the perpetrator of the attack. The Russians demanded that they only be allowed to determine whether or not a sarin attack had occurred.

But apparently the U.N. team found a way to prove blame without having to say it. In their scientific analysis of the evidence, they included calculations of the trajectories of the rockets that delivered the sarin gas. They drew no conclusions about where the rockets were launched, but they provided enough scientific information within the report so that experts studying the report can show that the rockets must have been launched from a Syrian Republican Guard unit. Very clever!

I watched an hour-long interview of Syria's president Bashar al-Assad by two Fox News reporters on Wednesday evening. At one point, he said that al-Qaeda terrorists had manufactured sarin in their kitchens and launched the August 21 attack. At another point, he said that his army could not have launched the sarin attack, because it required specialized army units that have had a great deal of training. Like many psychopathic murderers, al-Assad is such a skilled liar that even he doesn't know when he's lying. McClatchy

China steps up border incursions into India's Kashmir region

China has stepped up military border incursions into India-governed regions of Kashmir and Jammu, the site of wars between Pakistan and India since 1947. According to an Indian analysis, China's actions are part of a larger warning to the India government not to form an alliance with other countries that encircles China. China is particularly concerned about a possible partnership between its bitter enemy, Japan, and India. China is also concerned that the U.S. is attempting to bring India under its strategic umbrella with an objective to check China within Asia. But while India is building partnerships on China's periphery from Myanmar to Japan, China is developing partnerships with Pakistan, Nepal, Bangladesh, Sri Lanka and Maldives. Times of India and Institute for Peace and Conflict Studies (IPCS)

Anti-Golden Dawn protests across Greece turn violent

Protests turned to violent clashes with police in cities across Greece on Wednesday evening, after a so-called "anti-fascist activist" was stabbed to death by a man who said he belonged to the far-right Golden Dawn party. ("Far right" has a different meaning in Europe than in America.) In Keratsini, west of Athens, where the stabbing took place, the confrontation between the police and thousands of protesters lasted more than two hours. 6,000 protesters marched in Thessaloniki, Greece's second-largest city. The political party Golden Dawn has adopted Nazi symbols and is advocating the deportation of anyone who is not "pure Greek," even foreigners who have legally become Greek citizens. They've been blamed for an increase in violence against immigrants, and a coalition of political leaders on Wednesday evening called for legislation to make Golden Dawn illegal. Kathimerini and AP

(Comments: For reader comments, questions and discussion, see the 19-Sep-13 World View -- Fed surprises Wall Street by continuing massive money-printing thread of the Generational Dynamics forum. Comments may be posted anonymously.) (19-Sep-2013) Permanent Link
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