On the 22nd of October 1962 the US 2nd Fleet began the blockade of Cuba, an action that immediately threatened the world with nuclear war and annihilation. Those of us old enough to remember President Kennedy’s statement on live television will never forget the fear we all felt as the images of mushroom clouds swept across the TV screens and […]
Even as some insist that the global economy is in “secular stagnation,” the facts suggest that we may be entering the “worst” depression in history. The global markets have been on a slippery slope since the summer of 2007, and things have only been getting worse in 2016. The picture looks dismal, no matter which theoretical lens one uses. (This […]
So implementing a ceasefire is the UN’s top priority as it is Washington’s. But why would Putin agree to a ceasefire now just when the Russian-led coalition is making great strides on the battlefield, the war’s momentum has shifted in his favor, and the jihadist militias appear to be on the ropes?
The ominous element in this more than ominous situation revolving around the center of world petroleum and natural gas reserves, the Middle East, is the fact that in the recent weeks oil prices, which had temporarily stabilized at an already low $40 range in December, now have plunged another 25% to around $29, outlook grim. Citigroup has forecast $20 oil is possible. Goldman Sachs recently came out saying that it may take lows of $20 a barrel to restabilize world oil markets and get rid of the glut of supply.
The lion’s share of Islamic State illegal oil exports is conducted through Turkey and Kurdish areas. Although Washington could curb the illegal traffic, it has chosen to focus on other issues, a former CIA officer told the Sputnik news agency. “It’s a question of priorities. They have never allocated enough resources to do so. Other goals and missions have been […]