Under the guise of seeking higher inflation to “stimulate” the economy (and erode the value of people’s savings even faster), the European Central Bank announced negative interest rates on bank deposits held at the ECB — the first time a major monetary authority has ever set the rate below zero. If that proves to be not enough in its supposed battle against “deflation” or “not enough” inflation, the central planners at the eurozone central bank are threatening to do still more. Already, they are talking about potentially even starting up their own Federal Reserve-style “quantitative easing” gimmicks to gobble up real assets with fiat currency conjured out of thin air. Critics, though, are warning of disaster.
With the chaos and terror currently engulfing Iraq, American advocates of a non-interventionist U.S. foreign policy can once again — unfortunately — say “I told you so.” The absurdity of Middle East policies pursued by the Bush and Obama administrations are once more on full display for the world to see. The fruits of variously backing dictators, deposing governments, arming terrorists, and putting U.S. forces all over the region are clear to see: death, destruction, instability, carnage, terrorism, extremism, murder, never-ending war, and more. Now, Obama wants to intervene in Iraq again — on the same side as the Iranian regime.
Pentagon officials have acknowledged there is no way to know the amount of American arms that have fallen into the hands of the Iraqi and Syrian militants now battling to overthrow the Baghdad regime.
As Russian tanks roll into Ukraine, Russia's rising generation dreams of the "glories" of a Soviet Union they never had to endure.