We are headed for a much wider war in the Middle East, and headlines like this one are forecasting it. Speaker of the House John Boehner lays out a case that “Airstrikes Not Enough” to defeat ISIS. Boehner said, “At some point, somebody’s boots have to be on the ground.” ISIS has half of Bagdad surrounded, and I predict the U.S. will send ground troops sooner than later. The coalition is building with countries such as the UK, Belgium and France, but they will not bomb in Syria—only Iraq. I suspect they are afraid of making Russia angry. This is much more than just Iraq and Syria because I think this is a clash of cultures, and the ISIS message has gone global to the more than 1 billion Muslims. This article talks about ISIS getting recognition because of the airstrikes. It also talks about how ISIS wants payback for treatment of Muslims and how it is projecting the idea that it will be the winning team. ISIS is popping up in places such as Europe, the U.S., India and Australia. Countries such as Turkey and Saudi Arabia are all in for bombing Syria and Iraq. This is just shaping up to be the warm up act for a global war.
The financial war has been going on for a while and it is not abating. Notice those cheap oil prices? There is speculation that oil could hit $60 a barrel! Sure, part of that is declining demand, but part of it is Saudi Arabia who continues to pump oil instead of cutting back production. Why? Saudi Arabia wants to lower oil prices to hurt Russia, and it’s willing to cut prices and take a hit to do it. Also, is this Saudi Arabia helping out Obama and Democrats for the bombing campaign in Iraq and Syria? Who knows, but the Dems love the price drop in oil just before Mid-term elections. Don’t expect cheap oil to be a long trend.
Meanwhile, Russia is brushing off the pain sanctions are causing. Putin is not worried about 8% inflation and a record low ruble. Putin says it will just make relations with China and other BRIC countries all that much stronger. Meaning, there will be less use of the U.S. dollar in international trade. Please don’t forget the oil and natural gas card Putin is holding over Europe this winter. The colder it gets, the uglier the EU economy will get.
Speaking of the economy, it is not looking good, at least to IMF Managing Director Christine Lagarde. She is “quite worried” that the market is disconnecting to the real economy, and former Fed Head Ben Bernanke agrees. So does Mario Draghi of the ECB. He wants to print euros to buy bonds from insolvent banks. Germany wants to stop that because it is illegal in the Eurozone. If you are printing money to prop up an economy, how good can things be? They keep touting this bogus 4.6% GDP number for the second quarter here in the U.S., but housing, manufacturing and consumer confidence are all down. Gregory Mannarino of TradersChoice.net says the “world economy is on life support, and they can’t tell you the truth.” Of all the people I talk to on the economy, one consensus point pops out. We are headed for another financial crash, and the next one will be the granddaddy of them all. Big changes are coming, like it or not.
A Missouri doctor says the CDC is “lying” or is “grossly incompetent” about the Ebola threat. Dr. Gill Mobley, who is a micro biologist and trauma doctor, boarded a plane in Atlanta with a full hazmat suit on complete with goggles, gloves and mask. He had written on his hazmat suit “CDC is lying.” He did this as a protest of the handling of the Ebola threat. We were told that the chance of having Ebola here was extremely small. Now, it’s reported 100 people came into contact with an infected man who flew into Dallas Texas.
Join Greg Hunter as he analyzes these stories and more in the Weekly News Wrap-Up.