Author: admin

As fear and nationalism rise in Japan (and Abe’s grip on the people founders amid falling approval ratings and underperforming economic indicators such as GDP tonight), so another party has joined the debacle in the East China Sea. As NHK World reports, South Korea has officially announced that it will expand its air defense identification zone, making it partially overlap those of Japan and China. The game of chicken over small islands (and submerged rocks!) in the middle of nowhere continues…

 

 

 

The ‘triangle’ of doom in the East China Sea…

 

As NHK World notes,

South Korea has officially announced that it will expand its air defense identification zone, making it partially overlap those of Japan and China.

 

South Korea’s Defense Ministry said on Sunday that the expansion will go into effect on December 15th.

 

The move comes after China established its air defense zone over a wide area of the East China Sea last month.

 

The zone includes the Senkaku Islands, which are controlled by Japan and claimed by China and Taiwan.

 

Seoul has been demanding that Beijing redraw the zone because it partially overlaps the one set by South Korea and includes a submerged rock called Ieodo claimed by both nations. The Chinese call the rock Suyan.

 

The South Korean Defense Ministry said the expanded zone will also cover 2 small islands whose airspace partially overlaps Japan’s defense zone.

 

The ministry said it briefed Japan, the United States and China on the matter beforehand and the 3 countries suggested that the expansion is in line with international rules and is not an excessive measure.

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/ifV0Fk6RZKQ/story01.htm Tyler Durden

As fear and nationalism rise in Japan (and Abe’s grip on the people founders amid falling approval ratings and underperforming economic indicators such as GDP tonight), so another party has joined the debacle in the East China Sea. As NHK World reports, South Korea has officially announced that it will expand its air defense identification zone, making it partially overlap those of Japan and China. The game of chicken over small islands (and submerged rocks!) in the middle of nowhere continues…

 

 

 

The ‘triangle’ of doom in the East China Sea…

 

As NHK World notes,

South Korea has officially announced that it will expand its air defense identification zone, making it partially overlap those of Japan and China.

 

South Korea’s Defense Ministry said on Sunday that the expansion will go into effect on December 15th.

 

The move comes after China established its air defense zone over a wide area of the East China Sea last month.

 

The zone includes the Senkaku Islands, which are controlled by Japan and claimed by China and Taiwan.

 

Seoul has been demanding that Beijing redraw the zone because it partially overlaps the one set by South Korea and includes a submerged rock called Ieodo claimed by both nations. The Chinese call the rock Suyan.

 

The South Korean Defense Ministry said the expanded zone will also cover 2 small islands whose airspace partially overlaps Japan’s defense zone.

 

The ministry said it briefed Japan, the United States and China on the matter beforehand and the 3 countries suggested that the expansion is in line with international rules and is not an excessive measure.

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/ifV0Fk6RZKQ/story01.htm Tyler Durden

Just out from the NYT’s Fed watcher Appelbaum:

Fed’s Plan to Taper Stimulus Effort Not Expected Until Next Year

 

Federal Reserve officials are in no hurry to retreat from their bond-buying campaign to stimulate the economy and are likely to postpone any cuts to the program until next year, according to public statements by Fed officials and interviews with some of them.

 

Job growth has strengthened in recent months, and Fed officials expect continued improvement in the coming year. The Fed’s chairman, Ben S. Bernanke, predicted in June that the Fed would taper its purchases by the end of this year, and officials say they still could announce such a cut next week, when the Fed’s policy-making committee is scheduled to hold its final meeting of the year.

 

But influential Fed officials see little harm in postponing the decision, particularly compared with the risks of pulling back too soon…

At the same time, out from the WSJ’s Hilsenrath:

Fed Closes In On Winding Down Bond Purchasing

 

Federal Reserve officials are closer to winding down their controversial $85 billion-a-month bond-purchase program, possibly as early as December, in the wake of Friday’s encouraging jobs report.

 

Fed Chairman Ben Bernanke will have to build consensus among officials about how soon to pull back on a program that has been the center of market attention for months and whose effectiveness isn’t wholly clear. Many are getting more comfortable with starting a delicate process of winding the program down, though disagreements about timing and strategy could emerge, according to public comments and interviews with officials.

 

The Fed’s next policy meeting is Dec. 17-18 and a pullback, or tapering, is on the table, though some might want to wait until January or even later to see signs the recent strength in economic growth and hiring will be sustained. On Tuesday, officials go into a “blackout” period in which they stop speaking publicly and begin behind-the-scenes negotiations about what to do at the policy gathering.

 

One important consideration: Are investors prepared for a move? Talk of pulling back earlier this year jarred stock and credit markets. On Friday they seemed to take the prospect of a pullback in stride.

Who is right? Are both right? Are both wrong? According to some, especially those who manage other people’s money, and are paid only if the multiple expansion myth continues, any news will be good news, and all bad news is priced in.

Scott Minerd, global chief investment officer for Guggenheim Partners LLC, said, “It doesn’t matter” whether the Fed makes a decision on tapering this month or in 2014. “It’s priced in,” he said.

Sure, nothing matters, and the Taper – that tiny reduction in flow by $10 billion from $85 billion to $75 billion – was priced in in May also, until the Emerging Market nearly suffered a cardiac attack and the US bond market imploded…

Then again, does anyone even care? Far more relevant is what is the Fed’s price target for the Monday and year end close.

Also, how sad is it that this is what financial journalism has devolved to: when will the economist PhD overlords decree to (minimally) reduce their central-planning of the US economy and capital markets (and yes, Stalin must be spinning in his grave…)?

All completely meaningless questions to distract the population from the fact that while the markets rise to ever higher record highs, the social fabric in the US and globally stretches ever thinner…

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/7cyOtjkKuGE/story01.htm Tyler Durden

Just out from the NYT’s Fed watcher Appelbaum:

Fed’s Plan to Taper Stimulus Effort Not Expected Until Next Year

 

Federal Reserve officials are in no hurry to retreat from their bond-buying campaign to stimulate the economy and are likely to postpone any cuts to the program until next year, according to public statements by Fed officials and interviews with some of them.

 

Job growth has strengthened in recent months, and Fed officials expect continued improvement in the coming year. The Fed’s chairman, Ben S. Bernanke, predicted in June that the Fed would taper its purchases by the end of this year, and officials say they still could announce such a cut next week, when the Fed’s policy-making committee is scheduled to hold its final meeting of the year.

 

But influential Fed officials see little harm in postponing the decision, particularly compared with the risks of pulling back too soon…

At the same time, out from the WSJ’s Hilsenrath:

Fed Closes In On Winding Down Bond Purchasing

 

Federal Reserve officials are closer to winding down their controversial $85 billion-a-month bond-purchase program, possibly as early as December, in the wake of Friday’s encouraging jobs report.

 

Fed Chairman Ben Bernanke will have to build consensus among officials about how soon to pull back on a program that has been the center of market attention for months and whose effectiveness isn’t wholly clear. Many are getting more comfortable with starting a delicate process of winding the program down, though disagreements about timing and strategy could emerge, according to public comments and interviews with officials.

 

The Fed’s next policy meeting is Dec. 17-18 and a pullback, or tapering, is on the table, though some might want to wait until January or even later to see signs the recent strength in economic growth and hiring will be sustained. On Tuesday, officials go into a “blackout” period in which they stop speaking publicly and begin behind-the-scenes negotiations about what to do at the policy gathering.

 

One important consideration: Are investors prepared for a move? Talk of pulling back earlier this year jarred stock and credit markets. On Friday they seemed to take the prospect of a pullback in stride.

Who is right? Are both right? Are both wrong? According to some, especially those who manage other people’s money, and are paid only if the multiple expansion myth continues, any news will be good news, and all bad news is priced in.

Scott Minerd, global chief investment officer for Guggenheim Partners LLC, said, “It doesn’t matter” whether the Fed makes a decision on tapering this month or in 2014. “It’s priced in,” he said.

Sure, nothing matters, and the Taper – that tiny reduction in flow by $10 billion from $85 billion to $75 billion – was priced in in May also, until the Emerging Market nearly suffered a cardiac attack and the US bond market imploded…

Then again, does anyone even care? Far more relevant is what is the Fed’s price target for the Monday and year end close.

Also, how sad is it that this is what financial journalism has devolved to: when will the economist PhD overlords decree to (minimally) reduce their central-planning of the US economy and capital markets (and yes, Stalin must be spinning in his grave…)?

All completely meaningless questions to distract the population from the fact that while the markets rise to ever higher record highs, the social fabric in the US and globally stretches ever thinner…

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/7cyOtjkKuGE/story01.htm Tyler Durden

Moments ago news hit the tape that during a televised speech in Bangkok, Thai Prime Minister has proposed a decree to dissolve parliament and call new elections. This is likely in response to the plans of government protesters, who had planned to march on Government House this morning to pressure Yingluck to step down and hold fresh elections.

BREAKING: Thai Prime Minister Yingluck Shinawatra dissolves Parliament, calls for elections.

— The Associated Press (@AP) December 9, 2013

Additionally, as VOA reports, a caretaker parliament will be appointed with limited powers.

PM Yingluck: For now caretaker cabinet with limited power. #Thailand

— Steve Herman (@W7VOA) December 9, 2013

The immediate result is that the Thai Baht gains 0.1% to 32.115 against the USD, after being down as much as 0.5% earlier. However, this kneejerk reaction may not last. As VOA also reports…

Ms. Yingluck remaining as interim PM unlikely to mollify anti-gov’t marchers. #Thailand

— Steve Herman (@W7VOA) December 9, 2013

Whether or not this development will be seen as bullish for the EURJPY formerly known as the S&P500, is of course a rhetorical question: if it is a flashing red headline, it is always bullish for stocks.

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/maRyDPo-TSQ/story01.htm Tyler Durden

Submitted by Jim Quinn of The Burning Platform blog,

The American people are coming to the realization that everything Ron Paul has stood for in the last 40 years is true. He has been proven right regarding the Federal Reserve, the Military Industrial Complex, and the Warfare/Welfare Surveillance State. The American people have grown weary of inflation, wars of choice and being spied upon. Ron Paul’s consistently right message is finally making headway. He is a true American patriot.

 

America's Place In The World…

 

We Are All Non-Interventionists Now!

We are witnessing the triumph of Ron Paulism in the United States. The corporate media will avoid reporting it. They try their best to ignore Ron Paul’s 30 plus year intellectual march through our institutions.

But the facts in Pew Research’s 50 year survey of US views of “America’s place in the world” do not lie: This year the highest percentage of Americans ever — 53 percent — agree with the statement that “the US should mind its own business internationally and let other countries get along the best they can on their own.” (See illustration below)

 

This means that despite the Mephistophelian temptations of the neoconservatives, offering war, interventionism, “responsibility to protect,” and humanitarian bombs, Americans are behind Ron Paul and the peacemakers — more than ever.

There is no major political figure in the United States who has more clearly identified himself with the cause of non-interventionism both at home and abroad.

When the Georgia/Russia war broke out in 2008, arch-neocon Senator John McCain incomprehensibly said that “we are all Georgians now.” He meant that we should go to war with Russia to back up a Georgian provocation. His slogan is laughable now, particularly as the facts have come out about the war.

But we can say this with all the facts to back us up: “We are (mostly) non-interventionists now!” We are in the growing majority, but still we have to fight the powers-that-be to get our message heard. The censorship and propaganda against our message is strong. The war machine does not give up easily.

Please continue to support the Ron Paul Institute’s efforts to advance Ron Paul’s important work. Read our website, share the articles, follow us on Facebook and Twitter, and if you can please financially support our efforts. Ron Paul is winning. Let’s help him!

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/5dqGM4TlpZ0/story01.htm Tyler Durden

Submitted by Jim Quinn of The Burning Platform blog,

The American people are coming to the realization that everything Ron Paul has stood for in the last 40 years is true. He has been proven right regarding the Federal Reserve, the Military Industrial Complex, and the Warfare/Welfare Surveillance State. The American people have grown weary of inflation, wars of choice and being spied upon. Ron Paul’s consistently right message is finally making headway. He is a true American patriot.

 

America's Place In The World…

 

We Are All Non-Interventionists Now!

We are witnessing the triumph of Ron Paulism in the United States. The corporate media will avoid reporting it. They try their best to ignore Ron Paul’s 30 plus year intellectual march through our institutions.

But the facts in Pew Research’s 50 year survey of US views of “America’s place in the world” do not lie: This year the highest percentage of Americans ever — 53 percent — agree with the statement that “the US should mind its own business internationally and let other countries get along the best they can on their own.” (See illustration below)

 

This means that despite the Mephistophelian temptations of the neoconservatives, offering war, interventionism, “responsibility to protect,” and humanitarian bombs, Americans are behind Ron Paul and the peacemakers — more than ever.

There is no major political figure in the United States who has more clearly identified himself with the cause of non-interventionism both at home and abroad.

When the Georgia/Russia war broke out in 2008, arch-neocon Senator John McCain incomprehensibly said that “we are all Georgians now.” He meant that we should go to war with Russia to back up a Georgian provocation. His slogan is laughable now, particularly as the facts have come out about the war.

But we can say this with all the facts to back us up: “We are (mostly) non-interventionists now!” We are in the growing majority, but still we have to fight the powers-that-be to get our message heard. The censorship and propaganda against our message is strong. The war machine does not give up easily.

Please continue to support the Ron Paul Institute’s efforts to advance Ron Paul’s important work. Read our website, share the articles, follow us on Facebook and Twitter, and if you can please financially support our efforts. Ron Paul is winning. Let’s help him!

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/5dqGM4TlpZ0/story01.htm Tyler Durden