Henry Kissinger, former U.S. Secretary of State joins CFR President Richard Haass to discuss the Cold War. Kissinger reflects on the events, personalities, and thinking that characterized the United States and Soviet Union’s leadership.
The US wants to spread democratic values. It can start by cleaning up its act at home.
From Christian Caryl:
Larry Diamond, one of America’s leading scholars on global democracy, brought it up in a rousing speech at a recent conference here in Washington. He noted, with admirable frankness, that “we can’t be credible and effective in promoting democracy abroad if we don’t reform and improve its functioning at home.” He used to make this point, he said, as one of his last pieces of advice to Americans who aim to offer assistance to would-be democrats abroad. Now, he said, “it needs to be the first.” He quoted the old Greek proverb: “Physician, heal thyself.”
He’s not the only one. Just about everyone you meet in the “democracy bureaucracy” these days says the same. There’s a general awareness that democracy is experiencing dark times around the world, and that the attraction of Western models is waning fueled also by Europe’s continuing financial woes and political inertia….
REad more at The Beacon Dims.
Poland Prepares for Russian Invasion | The XX Committee
A top Polish MoD official, a man of “sober and strongly pro-American views” opines about Barack Obama and his national security staff:
“…You have no idea how many promises we’ve been given, even by the President himself, but there’s never any follow-up, it’s all talk. He thinks he’s on Oprah.” When I asked if he thought America would come to Poland’s aid in a crisis, he said laconically, “I’d flip a coin.”
Read more at Poland Prepares for Russian Invasion | The XX Committee.
US job growth rebounds
- US job growth rebounds, halting the correction
- Gold and crude oil are falling
- European stocks remain bearish
- Asian stocks are bearish
- US stocks continue to indicate a bull market
We are at the September quarter-end and stock weakness is likely to continue into October.
From the Wall Street Journal:
U.S. job growth rebounded in September and the jobless rate fell below 6% for the first time since mid-2008, suggesting the labor market is improving faster than previously thought. Nonfarm payrolls grew a seasonally adjusted 248,000 last month, the fastest pace since June, the Labor Department said Friday.
The S&P 500 broke downwards from its broadening wedge formation this week, warning of a correction to 1900. But Thursday’s long tail and Friday’s rally indicate buying support below 1950. Another test of 2000 is likely. Respect of resistance would warn of further weakness in October, while breakout would suggest a fresh advance; follow-through above 2020 would confirm.
* Target calculation: 2000 + ( 2000 – 1900 ) = 2100
CBOE Volatility Index (VIX) remains below 20, typical of a bull market.
Dow Jones Euro Stoxx 50 found support at 3100, but this is unlikely to hold. Expect another test of primary support at 3000. Breach would signal a down-trend. Fall of 13-week Twiggs Money Flow below zero would strengthen the bear signal.
* Target calculation: 3000 – ( 3300 – 3000 ) = 2700
Dow Jones Asia Index is headed for a test of 2800 on the weekly chart despite continued bullishness on the Shanghai Composite, reflecting strength in the US Dollar. Penetration of the rising trendline would strengthen the bear signal. Reversal of 13-week Twiggs Momentum below zero also signals a primary down-trend.
The ASX 200 found support at 5250. Recovery above 5350 and the descending trendline would suggest that the correction is over. But respect of resistance remains as likely and breach of 5250 would warn of a test of 5000/5050. Recovery of 21-day Twiggs Money Flow above zero would indicate short-term buying pressure.
* Target calculation: 5650 + ( 5650 – 5350 ) = 5950
Is America the greatest country in the world?
Beginning scene of the new HBO series The Newsroom answers the question: “Why is America the greatest country in the world?”
An honest three and a half minutes of television…. [strong language]
Hat tip Barry Ritholz/Doug Kass