New Report Condems NATO and the U.S. for Human Rights Violations

“In a report released by the Foreign Ministry detailing human rights abuses around the world, the United States comes up short, cited for violations on both the domestic and foreign fronts.

The report says that the United States, on the pretext of fighting terrorism, is actually crushing the liberties and freedoms of the very individuals the security measures were intended to protect – the American people.

“The situation in the United States…is far from the ideals proclaimed in Washington,” the report says. “The incumbent administration continues to apply most of the methods of controlling society and interfering in the private lives of the American people that were adopted by the special services under George Bush on the pretext of combating terror.”

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Escaping taxes is becoming popular.

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“When sermons of Obama’s Chicago pastor, Jeremiah Wright, surfaced during the Iowa primaries, it threatened to derail Obama’s campaign. ABC aired one where Wright screamed, “Goddamn America!” Edward Klein interviewed Wright, who told him Obama’s team tried to buy his silence.”

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The S&P reports that companies will have to refinance $46 trillion over the next four years. Some doubt that the credit markets will be able to handle it.

So this means you better stick with cash flow positive companies if you dare to own equities for the long term.

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Shakespeare had it so pegged when he showed the best in a character as well as his or her flaws. Well wall street certainly has the brightest minds to manage risk, but it is human nature that exposes flaws no matter how safe that quant models appears to be.

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Ouch for this hedge fund is all one can say….

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We certainly do not need help issuing debt. But Europe’s crisis may help us to do so. Read about it and the macro outlook on money flow with their effects on treasuries and equities.

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In 2002 i did some homework and learned that most too big to fail banks are playing with 15 -20 derivatives at any one time. At that time, i was interested in the artificial suppression of gold prices. I told clients to get long gold and short the banks. They laughed, and of course i was way too early. I also learned that if one of those derivatives went completely against the bank, (at that time JPM, ) there was a strong chance the bank could become the next LTCM.

At any rate, here is some insight into derivatives and other losses JPM has had recently.

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Oddly enough.  big and bad news comes at the end of a corrective faze (sic)… or at least marks the beginning of the end. Could markets be ready to vault while bond prices come in ?

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Good numbers from America’s companies this Q; hopefully the market can ignore Europe and trade on merit.

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I am sure he will be omitting that from his resume.

***Yahoo CEO Thompson to step down; global media head Levinsohn interim replacement as Board settlement with Loeb nears completion – WSJ

Stress on the word may; since this report comes from an anonymous source…

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Depending on which news source you listen to either tens or hundreds of thousands rallied against austerity in Spain. The Euro zone is nearing a boiling point.

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The Dubai stock market fell for opening trade and will likely set the tone for global markets. News of a Greek continuing tragedy to form a coalition government sent Dubai shares downward.

There is a clam meeting this week so perhaps we may get some hopium.

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Governor Jerry Brown will announce down to the bone budget cuts next week.

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“Elizabeth Warren, a Massachusetts candidate for U.S. Senate, called for JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon to resign his position as a director at the Federal Reserve Bank of New York.

Dimon, who disclosed a $2 billion trading loss by his bank last week, shouldn’t stay on the board of the New York Fed because “he advises the Federal Reserve on the oversight of the financial industry,” she said in an e-mail release.”

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“Greece’s biggest anti-bailout party, Syriza, said for the second time in as many days that it won’t join a unity government, pushing the country closer to new elections that have sparked concerns about a euro-area exit.

“Syriza won’t betray the Greek people,” leader Alexis Tsipras said in statements televised on state-run NET TV after a meeting brokered by President Karolos Papoulias between the party and the leaders of the New Democracy and Pasok parties. “We are being asked to agree to the destruction of Greek society.”

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JPM is allegedly unable to close the trades that are causing the hemorrhaging. With sharks circling a “wounded whale oozing blood”, Mendoz wonders how much higher than $2 Billion will the final tally be?

Read the article here.

As lawmakers grow weary of waiting on Greece to put into place reforms, the ECB is facing the distinct possibility that Greece may exit the Eurozone. The ECB would suffer massive financial losses, and the results of an exit could be disastrous.

Read the rest here.

Sober Look examines the damage that will likely be caused to the Eurozone should Greece exit.

Read the commentary here.