Mish's Global Economic Trend Analysis

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Hypocrites, Obama, and the "Will of the People" Posted: 06 Jul 2013 01:17 PM PDT Obama wants the government in Egypt to honor the will of the Egyptian people. But what about the will of the people in the United States who clearly did not want Obamacare (and still don't like it)? What about the will of the people who want our troops home from Afghanistan? While pondering such obvious hypocrisy, note that the State Department is working overtime regarding America's Mess in Egypt. Mr. Obama is bound by his own words, international law and the expectations of allies, such as Great Britain, not to acknowledge or support coups that overthrow duly-elected governments. For the president, it is an inconvenient truth that Morsi, a member of the Muslim Brotherhood, accomplished his office through the ballot box and was as constitutionally legitimate as Obama, but for one small fact. Morsi pushed through constitutional changes that are rather favorable to the fundamentalist thinking of the Brotherhood. Like most Americans, I have no truck with the ideas of the Brotherhood, but the mob in the streets objecting to Morsi chose methods other than ballots to remove him. Sadly for him, the Egyptian military is neither under civilian control nor primarily financed by the Egyptian government. It gets its manna from the Obama Administration via more than $1 billion annually in U.S. foreign aid. The State Department is now indicating [the coup] may not be a coup, because the generals have not imposed a military leader. That question has the legal minds at the State Department working overtime. The upshot, in Egypt Obama's principal representative, Ambassador Anne Paterson, is vilified by all sides, and the Muslim Brotherhood is likely permanently disabused of the notion that participating in democratic processes can lead to its views taking hold anywhere from Syria to Yemen. This is a mighty grand mess that will result in untold bloodshed and further reinforce anti-American views across the Middle East. Those remarkable accomplishments notwithstanding, Americans are entitled to know: What is the U.S. policy toward overthrowing democratically elected governments? Is it unacceptable except when it gives rise to fundamentalist social and religious views the prelates within the American academy and mainstream media don't like? Who says America doesn't have an insular aristocracy and Ayatollahs of its own. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

Venezuela, Nicaragua offer asylum to Snowden; Double Standards and Hypocrite Allies Posted: 06 Jul 2013 10:52 AM PDT MarketWatch reports Venezuela, Nicaragua offer asylum to Snowden The governments of Venezuela and Nicaragua have stepped forward to offer asylum to National Security Agency whistleblower Edward Snowden, who is currently holed up at a Moscow airport seeking a country to provide him sanctuary, according to media reports Saturday. Venezuela's president, Nicolás Maduro, said Friday that he will "protect this young man from the persecution unleashed by the world's most powerful empire," according to the New York Times. The offers from Venezuela and Nicaragua are, in part, motivated by anger over the treatment of Bolivian President Evo Morales, whose plane last week was denied permission to fly over several European countries because of suspicions that Snowden was aboard, the newspaper said 'Imperial Skyjacking' In case you missed the 'Imperial Skyjacking', note that Latin America was upset last week when Bolivian president Evo Morales' plane diverted to Vienna amid suspicions NSA whistleblower Edward Snowden is on board. Bolivia said President Evo Morales' plane was diverted on a flight from Russia and forced to land in Austria over suspicions that Edward Snowden might be on board, as countries across the globe rejected the American whistleblower's asylum applications. France and Portugal abruptly cancelled air permits for Morales' plane, forcing the unscheduled stopover in Vienna. Kidnapped by Imperialism RT also commented on the 'Imperial Skyjacking' in Bolivian presidential plane grounded in Austria over Snowden stowaway suspicions. Morales' jet was forced into landing in Vienna on Wednesday after several EU countries barred the plane from entering their airspace over suspicions that whistleblower Edward Snowden had stowed away aboard. David Choquehuanca, the Bolivian Foreign Minister, refuted the idea Snowden was on the plane, saying "we don't know who invented this lie, but we want to denounce to the international community this injustice with the plane of President Evo Morales." "I am not going to allow them to search my plane. I am not a thief," tweeted Argentine President Cristina Kirchner, citing the Bolivian President Morales, who she spoke with by telephone. "This is a lie, a falsehood. It was generated by the US government," Bolivian Defense Minister Ruben Saavedra told CNN. "It is an outrage. It is an abuse. It is a violation of the conventions and agreements of international air transportation." Double Standards and Hypocrite Allies Did not Germany, France, and the EU in general benefit from the revelations by Edward Snowden that the NSA was spying on Germany and the EU? Was Germany grateful or would Germany have simply preferred to let the US go on bugging their offices? What about France? Logic dictates that it is beneficial to learn your alleged friends are spying on you. However, logic is useless. Note the double standard of this mess. Imagine the outrage if president Obama's plane was forced to land in another country. The Snowden affair is an absolute disgrace all around: By the US for its actions, then by Spain, by Portugal, by France and by any country that would not grant air clearance to Bolivia President Evo Morales based on totally unfounded and piss poor US intelligence reporting that suggested Snowden was on Morales' plane. Even if countries were 100% certain Snowden was on the plane, they should not have honored the request by the US to ground the plane or deny air space flyover. I am disappointed that neither New Zealand nor Australia would offer asylum. Is there any dignity left in this world? I guess not, given the world bows down to the almighty US even when we spit in the face of our key allies by bugging their offices. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

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