Can You Say Drachma ?
While watching Europe implode has been entertaining, the reality is, you ain’t seen nothing yet! The Greeks announced a second round of elections to be held June 17th. In a last ditch act of desperation, Greece has 30 days to elect enough representatives willing to cooperate just long enough to reestablish a functioning government. Any government will do for now.

Should they fail to put together a “coalition of open minds willing to compromise”, we estimate within weeks, maybe less, Greeks will make a run on the banks and take to the streets. The optics are gonna be crazy cool! Tear gas, pepper spray, water canons, rubber bullets, the works!
.
At last report, 900 million euros has been withdrawn from Greek banks and little can be seen why this won’t become a trend. What in the name of Zeus has changed so drastically in the last two weeks that’ll inspire the average Greek voter to do a 180 in their positions eludes us.

The smarter and more cautious Greeks, aren’t waiting for the predictable outcome of this second round of elections. Some people have decided to bail themselves out now. No Greek citizen in his/her right mind is gonna get caught holding worthless Drachmas when they have a chance to cash out for Euros while their still worth a dime.

This of course, will only to exacerbate the crisis and eventually add to Spain’s woes since the world will be nervously awaiting the Spanish middle class to erupt into push leading to shove protest. Bond holders are gonna be pissed. Hey, somebody has to take the loss and the average joe/jane ain’t got nothing left to lose.

Since few examples of “political cooperation for the public’s good” exist among established economies, least of all America, the Greeks will have to stage this tragedy without a script. If only “Return of the Drachma A Greek Tragedy” was just a cheap B-Movie, we could zap the channel to a reality show. Unfortunately this may be the beginning of the…

http://retrovisionmedia.com/issuesunderfire

Looks Notwithstanding Hollande/Merkel Might Work

Considering the critical challenges Hollande and Merkel will be confronted with going forward, it’ll be interesting to see how these two “plain wraps” grapple with their differences in salvaging the EU and the Euro. With all the glitz and glamour of paper v. plastic, hopefully these bland blends are the brainiacs the West needs to stabilize Europe’s decline.

Reportedly a closer temperamental match than his predecessor Nicolas Sarkozy, Francios Hollande is a boring numbers guy. But that can be a good thing, considering its all about understanding the numbers these days. Remember, numbers don’t lie only politicians and accounts do.

Angela Merkel, a trained physicist who says she analyzes everything throughly is another with a head for numbers. Kind of hard on the eye, but perhaps that’s why her numbers always seem to tally up in the black.

Since Greece is but a heartbeat away from a total collapse and will likely drag Spain down with them, it’s imperative the German/Franco negotiations deliver measurable and confidence building proposals right out of the gate.

With the whole world watching, its actually the US that stands to gain greatly should said proposals signal growth as a more positive option. Oddly enough, Hollande’s populace fiscal philosophy would resonate as positively in the State of Wisconsin as it does in Tulle France.

As the American President continues his push for growth through equitable tax policies, investment in education, research and development, science and technology, renewable energy and green technologies, while maintaining a humane social safety net, Obama and Hollande could make for a rather dynamic duo themselves.

Hence, the Obama administration would be wise to fully appreciate how the immediate German/Franco cooperative can and will affect US short term economic conditions. It is imperative the US voter be reminded of the interconnectivity of the global economic outlook early and often.

The sooner that message is thoroughly understood, the sooner one can negate predictable GOP assertions, that their tried and failed policies could work this time around. Its too late to go back, go small or go it alone. Like it or not, the world is moving forward with or without US.

http://retrovisionmedia.com/issuesunderfire

Jailed in Israeli prisons, as many as 2000 Palestinians refused food in protest of indefinite detention, until a deal was brokered with Egyptian help. Solitary confinement and brutal conditions has become a way of life for thousands of Palestinians being held without charge or trial in what the Israeli government call necessary “administrative detention”.

Individuals suspected of engaging in any activities the State of Israel deems a threat to Israeli security can be and are routinely arrested and held incommunicado. Sometimes for years, many are imprisoned without access to family or legal council.

Striking a deal with the PA with help from Cairo, a weeks long hunger strike was called off. Apparently just in time too, as the the deaths of some committed to protesting for humane conditions and the chance to defend themselves in open court was imminent.

As we’ve reported in previous postings, the death of a single protestor can fuel the passions of the masses. Once the energy of those passions are tapped and channeled, anyone finding themselves the focus of that energized passion will have few defensible positions left at their disposal.

The Israeli government looking more like that of Syria’s is descending in world opinion at a consistent, steady and predictable pace. The harsh, brutish and inhumane manner in which the Israelis are and have always engaged the Palestinian people will be difficult to continue when the globe’s glare is finally and firmly affixed to the issue.

In flagrant violation of many international laws enacted to insure basic and universal human rights, Israel have taken refuge behind the shield of the United States’ Congress. But even that shield can be penetrated by world opinion when a nation falls below that undefined, yet viscerally uniting expectation of fairness.

Not willing to chance the world’s instinctual response to these questionable measures Israel has taken to secure their interest, they’ve decided to yield on the issue for now. With May 15 being Nakba Day, or the “day of catastrophe”, commemorating Israel’s declaration of statehood in 1948 and the displacement of hundreds of thousands of Palestinians from their land and homes, the last thing Israel needs is a Palestinian dying of hunger in protest of his illegal detainment.

Actions were scheduled to take place in all Palestinian territories today with the main rally planned for Ramallah in the occupied West Bank. Protestors are also expected to make their presence felt at the nearby Ofer military prison and Qalandia checkpoint where there has been a number minor confrontations.

Going forward, as these revelations proliferate, take root and eventually prioritized for action, we think the Israeli government will have significant public relations challenges to say the least. The world will not tolerate Israel’s behavior much longer.

http://retrovisionmedia.com/issuesunderfire

JPMorgan CEO Jamie Dimon: $2 Billion Trading… by IBTimesTV

Caught in Wall Street Circle of Madness:

Here we go again folks. Round and around and around we go, where we’ll stop, nobody knows. Wall Street’s recidivist nature over the last few years leaves one with little confidence, those in charge even have a clue or a care how their behaviors cyclicly and now predictably creates catastrophes for share holders, investors, and the general public.

After key words and phrases like bank bailouts, finance reforms, deregulation, too big to fail and fraud were exposed as pillars of support for Wall Street’s world of ill gotten gains, we thought MF Global would have been the last loud shoe to drop. We were wrong? What we are witnessing is the very definition of madness.

Despite assurances that we don’t need smarter, meaner and more powerful guard dogs for the hen house, billions are continued to be wagered, lost, stolen, intentionally misplaced and or misappropriated. This is a tale that can be told every four to five years and will.

Yet, for some weird reason, we either forget too quickly or forgive unconsciously. Watching Jamie Dimon try to spin his way back into the good graces of investors just left many with a queasy stomach. Luckily for our faithful audience, we have a clue that might help avoid the same pot holes and obstacles the next you get taken for a ride around the track.

http://retrovisionmedia.com/issuesunderfire

Today, we’re going to hear so-called media professionals referring to President Obama’s support for same sex marriage as a profile in courage. And we’ll not argue the point, for it was truly an extremely courageous act.
However, courageous hardly addresses what the President did yesterday.

In a divided nation, with an uncooperative and obstructionist congress and standing at the precipice of the most vicious and contentious campaign in American history, this President had the strength of character to do what his predecessors feared to do; the right thing.

Through half steps and measures designed to delay deny or distance themselves from issues affecting LGBT Americans, every President heretofore have done little more than pay lip service to a very loyal, patient, supportive and generous constituency. We need your vote, but lets keep things on the down-low for now was always the message!

Enter Barack Obama: Breaking the sound barrier of silence of previous administrations, this President eased out of stealth mode. His words came out of the clear blue sky to carpet bomb closed minded intolerance, while giving hope to those feeling shunned and outgunned. This was not his usual mode of attacking a problem, generally electing to go small, quiet, quick and lethal. No, this was a full out frontal assault on the mindset of yesterday.

This was another bold, brave and ballsy move, rarely seen in the American political construct. In fact, this President has shown more independent initiative than any in recent history. In a time when few politicians will chance making a decision without the nod from advisors, consultants and polls, its refreshing to see a leader take his cue from the heart of the people.

Risking political favor to wager America is better than a dwindling demographic of aging, hateful, self-righteous, meddling and intrusive outliers of yesteryear, President Obama characteristically did the fare thing. Through a continuity of positions and policies, this President’s message has been clear, his actions consistence and his narrative has always spoke to and for the people. All the people.

The simply utterance of “I support same sex marriage” raised Barack Obama’s presidency way above past administrations in their failure to accept ownership of LGBT issues. It takes guts to accept the lead on a hot issues, when everyone else is running for cover or hiding behind prepared statements and carefully constructed talking points.

From pushing for universal healthcare to fighting for investments in America’s tomorrow, when his opposition is inclined to decline everything and anything, this was another big F-ing deal.

http://retrovisionmedia.com/issuesunderfire

North Carolina, the intellectual capital of the nation has spoken, gays and lesbians are not welcomed. Voters just approved a state constitutional amendment that bans same-sex marriage and civil unions. As draconian and backward leaning that sounds, they actually did it with an overwhelming margin.

The amendment, defines marriage between a man and a woman as the only legally recognized domestic union in the state. We’re still checking to determine if this amendment is species specific. North Carolinians have already block gay and lesbian couples from marrying, but they apparently wanted to emphasis the intolerance by strengthening their constitution to be in line with other southeastern states.

When it comes to the hot issues like race, gender, gay and lesbian rights, the right to chose, religious tolerance and immigration, America is as hopelessly divided as its ever been. Although their been recent polling to suggest a slight tilt to the left on the most divisive issues among the nation’s youth, their is a significant demographic, hanging on to life long enough to skew results.

If anyone ever ask if we can all just get along, tell them the results say hell no! Well for now anyway. Perhaps America made a grave error by keeping the country together. Maybe we’d all be better off if the nation separated between The Cool and The Others. Explanation given in todays podcast. Time permitting, we’ll expound tomorrow.

http://retrovisionmedia.com/issuesunderfire

Channeling the world’s mindset, Francois Hollande loudly and clearly began a new dialog in the global war against “the people”. Once again, led by the French (no strangers to revolution) they’re reconfiguring Europe’s economic debate. Poised to stand down Germany’s demand for stiffer economic discipline (Germans being no strangers to discipline) Hollande’s promises to place fresh options on the table, while assuring “the people” a seat at that table.

During all of the summits, conferences and global negotiations staged thus far to mitigate escalating damage to the world’s economy, little attention has been paid to the actual degree of damage “the people” are forced to sustain. Few of those charged with stabilizing the West’s crumbling economic state are even remotely aware, or if so even care how “the people” are to manage their lives under crippling austerity measures.

Under said policies, lives will be crushed, careers delayed and derailed, futures downgraded and potential for economic and personal growth unrealized. If there are existing alternatives to those offered by the elite’s handpicked representatives, President elect Hollande and America’s Barack Obama must be the leaders to bring them to the fore.

Advocating long term pressures on the individual through lower wages, longer hours and fewer benefits will only weakened and anger the world’s already desperate middle class. Although one could argue Europeans and Americans are strong, resilient and willing to sacrifice for the greater good, no one can be expected do so for very long in the face of runaway income disparity.

By every measure, those who stand to benefit most from the path of austerity are the very entities that caused the global economic calamity in the first place. Imposing financial discipline and severe austerity on everyone but themselves after creating vast wealth opportunities for the very few will hardly be tolerated without a fight. Hiding behind arguments of envy and class warfare will be seen as an insult by those simply looking for work at a livable wage and access to affordable healthcare and education.

Provide these basic essentials to any populace and one will find people automatically rising to levels commensurate with their talents and work ethic. Newly elected Hollande, like American President Obama are representing “the people’s” interest. They both seem to have wisely listened to the voices of the weary and structured policy responses that’ll reinvigorate the shriveling middle class, while offering hope to those who’ve already being left behind.

Both taking office under the most dreadful economic circumstances in recent memory, Hollande and Obama have apparently opted for the Keynesian approach to stimulating the global economic contraction. In our view, global economic retrenchment has proven to be structurally unsound and fundamentality unfair.

Francois Hollande’s victory should provide a dire warning for Mitt Romney and the GOP’s chances in November. Even the hoards of money that’ll be spent to marginalize the American President’s achievements in the face of near treasonous obstructionism, will have minimal impact.

Against a sitting president who’s ingratiated himself with a majority of Americans through maintaining a strong personal connection at “the people” level of governance, the elite’s candidate will have difficulties spinning a tale of compassion for anything but unmitigated profit.

With a message of: Fairness will lead to opportunity and opportunity will lead to forward progress for all “the people” being the foundation of his campaign strategy, President Obama will handily defeat his politically contorting rival without much effort.

http://retrovisionmedia.com/issuesunderfire

Chen Guangcheng gets the bums rush from US right into Chinese clutches:

Chen Guangcheng, the blind Chinese activist, has said he wants out of China, despite a “bogus”deal struck to ease him out of the US embassy in Beijing. In an effort to get the incident off the front page, it appears the US led Mr. Chen up a blind alley. Under an agreement that US officials initially said Chin was cool with, those close enough to know the real deal thought they’d hustle this guy off into oblivion and close the chapter quietly in the interest of bigger fish to fry. Unfortunately, the world won’t let the story die, as many are pushing the United States to press the Chinese harder on human rights while theChen Guangcheng story remains hot.

Bringing the issues to a boil, Chen told Reuters news agency yesterday from the hospital, that he had changed his mind after speaking to his wife who spoke of recent threats made against his family. He was transported to the hospital by US said officials after leaving the embassy. (Maybe they told him they were on the way to the airport or to grab some Mac Donalds). Either way, the Chinese government is pissed beyond measure and are seeking an apology from the Americans for interfering.

With Secretary of State Hillary Clinton in Beijing for trade talks, the last thing she wanted, was to be pulled into was a complicated international incident the US is ill prepared and poorly equipped to handle. Now mired in a stalemate with the Chinese government, Chen, the self taught legal activist is back under Chinese control in a Beijing hospital, having left the embassy on Wednesday.

According to Chen’s wife Yuan Weijing, his family had been surrounded by Chinese officials who menaced them and filled the family home. Chen said on Thursday that he feared for his and his family’s safety if he stayed in China. “I feel very unsafe. My rights and safety cannot be assured here,” he said, adding that his family supported his decision to try to get to the US. Secretary Clinton was compelled to address the issues albeit gingerly considering the US’ clout has been diminished over the years and the Chinese’s steady assent during the same period.

The situation boils down to a diplomatic solution in which the US tried to convince Chen that his government would allow he and his family to start a new life in a university town, safe from the rural authorities who had abused him in prison and house arrest for nearly seven years. That deal has fallen apart. His response to his predicament: “I want them to protect human rights through concrete actions,” Chen Guangcheng told CNN from his hospital room in Beijing. “We are in danger. If you can talk to Hillary, I hope she can help my whole family leave China.” Good luck with that pal, cause the US simply don’t have the pull it once had.

Although, one could argue the Chinese Government could be close to over playing their hand, as these days it don’t take much to spark a movement. Mr. Chen Guangcheng has just the type of tale that could unite enough dissatisfaction to bring the masses into the streets. While this guy Chen may be merely one in more than a billion, he still matters.
America don’t dis dissidents!

http://retrovisionmedia.com/issuesunderfire

The speech was cool, masterful, presidential and timely, but here’s the deal:

On, 06.16.10, 12:38 PM EDT Gordon G. Chang authored this: The Taliban: World’s Next Minerals Superpower

“This week the U.S. Defense Department revealed that Afghanistan possesses at least $908.9 billion in untapped mineral resources. Iron accounts for $420.9 billion of the total, and copper $274.0 billion. There is cobalt, gold and molybdenum. The country could become, according to a Pentagon memo, the “Saudi Arabia of lithium.” Just as interesting, there is niobium, used to make superconducting steel.
Most significantly, Afghanistan has substantial deposits of rare earth minerals, estimated to be worth $7.4 billion. And why is this so important? At present, China has a near monopoly over them. It possesses about 36% of world reserves, by far the biggest share for any nation, and accounts for around 97% of global production. Five years ago Beijing substantially tightened export controls on these minerals. At this moment, officials are building a strategic reserve of them.”

On April 18th 2012, Forbes contributer Gary Shapiro, President and CEO of the Consumer Electronics Association wrote this: “American manufacturers are fighting to compete in a global environment that grows more competitive by the day. They can succeed, but only if the game is not rigged against them. China is playing hardball by first monopolizing, then price-gouging on resources manufacturers need to make many tech products.” And this: “Over the past 30 years, the United States and the rest of the world have become dependent on imports, many from China, for 19 key minerals. These so-called “rare earth” minerals are used in the integrated circuits found in most computers and smartphones, as well as stereo equipment, radar technologies and missile guidance systems.”

Considering Afghanistan has reportedly as much as a trillion USDs in Rare Earth Minerals just waiting for hostilities to cool for easy access, it makes sense for the United States to prolong its commitment in that war torn country. A deal with the Taliban to extract these valuable minerals could help offset the billions needed to keep the Afghan government from folding. Development of these resources could provide an alternative revenue stream to the drug trade that supplies the region and Europe.

On the other hand, today Al Jazeera reported: “According to new CENTCOM figures given to Al Jazeera on April 30, there are about 125,000 US troops in close proximity to Iran: 90,000 soldiers in/around Afghanistan on Operation Enduring Freedom; some 20,000 soldiers deployed ashore elsewhere in the Near East region; and a variable 15-20,000 afloat on naval vessels.

View American military bases near Iran in a larger map

“US Defence Secretary Leon Panetta has said the US would have 40,000 troops in the Gulf following the withdrawal from Iraq. But the exact number, location and mission of these forces beyond Afghanistan is virtually impossible to determine. “We are obliged to respect the stated desires of various host countries, who have asked that we not acknowledge details of any US presence on their sovereign soil,” Oscar Seara, public affairs officer at CENTCOM, told Al Jazeera in an email. “Partner-nation sensitivities limit what we are able to say about our military relationships,” Seara said, when asked to confirm or deny information about the bases in the map above. (This comes under the heading yeah yeah yeah, blah blah blah)

With Iran projected to be a major concern for the foreseeable future, it would make sense to keep a modest, yet potent military presence nearby capable of reacting to any perceived threats. Since President Obama has shown a proclivity for using faster, smaller, efficient and economical modes of engaging America’s foes, few eyebrows will be raised as his “prevent defense” policies will seem cost effective and easier to control. Hence, the slow walk out of Afghanistan is not only forward thinking but its good business.

http://retrovisionmedia.com/issuesunderfire

Over the last few weeks, Europe has fought with itself over how to regain control of an economic crisis taking on a life of its own. With the momentum of current economic policy forces driving growth potential down and unemployment statistics up, those favoring austerity as a means of slowing the downward slide are slipping in all polling data tracking their respective economic performance.

Today the world will recognize May Day 2012 with planned marches, demonstrations, protest and acts of civil disobedience to express its disapproval of current method’s of dealing with this global phenomena of escalating unemployment. From New York to Madrid the international populace is gathering to reject policies they feel have depressed economic activity which has lead to the severe reduction of employment opportunities. Most new or existing jobs options will generally offer less pay, fewer benefits and longer hours.

Spain follows a host of nations failing under the crushing weight of economic measures being imposed upon them by leaders who’ve signed on to the austerity approach. Much to the angst and anger of Europe’s citizens, tough cuts to education and healthcare among more to come in all areas of social services and lower paying employment options are stirring the widespread protest.

Last week the debate was whether austerity driving global economy into recession. This week, there is no debate, because the facts are undeniable: “GENEVA (ILO News) –Despite signs that economic growth has resumed in some regions, the global employment situation is alarming and shows no sign of recovery in the near future, says the International Labour Organization (ILO).”

In the ILO’s(International Labor Organization’s) “World of Work Report 2012: Better Jobs for a Better Economy” says that around 50 million jobs are still missing compared to the situation that existed before the crisis. It also warns that a new and more problematic phase of the global jobs crisis is emerging.

The ILO reports these issues are primarily related to governments, chiefly in advanced economies, shifting their priority to a combination of fiscal austerity and tough labour market reforms. The report maintains those measures are having devastating consequences on labour markets in general and job creation in particular. All data now confirms, these measures have for the most part failed to reduce fiscal deficits.

According to Raymond Torres, Director of the ILO Institute for International Labor Studies, “the narrow focus of many Eurozone countries on fiscal austerity is deepening the jobs crisis and could even lead to another recession in Europe”,

If this is a time for all options to be on the table, we should start hearing words and phrases like debt forgiveness(personal), write downs, stimulus, infrastructure projects, bond losses, radical healthcare reform(US) tax reform, as well as the dreaded QE-3, 4 and 5 if need be.

The only good news to be gleaned from the world’s horrid economic position is, the American President can profit from Europe’s errors. Barack Obama can point to the global shortage of jobs (per the aforementioned) to offset certain criticism of America’s anticipated slowing employment reports on the horizon. While the US’ employment statistics are unacceptably high, by global standards President Obama’s policies has, at the very least, held the US economy’s head above water as others are clearly drowning.

Campaigning against his political rival’s now “proven ass backward path to economic stabilization”, Barack Obama could actually reestablish America’s reputation as the “Can Do” and “Go To” nation when the real $hit hits the fan. Staying the course of populist policies will yield positive results as the world continues to trend left.

http://retrovisionmedia.com/issuesunderfire