Saturday, June 14, 2014

News - Daily Summary

World: Violence continued across Iraq as Sunni militants extended their control. Iran is considering supporting the Shiite government. The U.S. has yet to commit air assets as requested by Iraq. This could easily devolve into a civil war between Sunni militants in eastern Syria and western Iraq, the Shiite government that still controls eastern Iraq, and the Kurds who control northern Iraq and recently took over Kirkuk. This could get ugly quickly, and the reality is that we are witnessing the partition of Iraq. In Israel three Jewish teens were kidnaped. Palestinians are suspected and one of the teens might be an american citizen. There were no other new major developments across the mideast today. In Ukraine the separatists seem to be taking advantage of the border they control by taking arms shipments from Russia that include armored vehicles. Separatists also shot down a military plane killing 49 Ukrainian military personnel. So much for tensions cooling off. In Asia Japanese and Chinese jets cross paths prompting complaints from both countries. How long till the shooting starts? Tensions are still high across the rest of the East China Sea. In Venezuela they are starting to run out of coffins. Inflation is so rampant that manufacturing and importing is grinding to a halt. Isn't socialism great? Besides the usual crimes and tragedies, there were no other new major developments across the world today

U.S.: Despite the situation in Iraq, stocks closed higher today. Gold was higher as was oil. The Euro strengthened a bit in relation to the dollar. Transit workers went on strike in Philadelphia. The IRS made public that they lost all the emails related to a key figure in the targeting of conservative groups. How convenient! And the Los Angeles Kings won the Stanley Cup. Who would have thought that hockey from California could do that? Besides the usual crimes, tragedies, and trivialities, there were no other new major developments in the U.S. today.

It was another day before the coming economic storm.

What do you think?