Friday, July 29, 2011

An Instant Balanced Budget

Fundamentals: Today, after the bell, the Obama administration is supposed to tell us how it will pick and choose paying government obligations. This comes after Congressional gridlock has made raising the debt ceiling impossible in the short term. If the picking and choosing is done wisely, then we will instantly have a balanced budget and massive spending cuts might not derail the economy. No matter what there will be a Keynesian hit with the government spigot turned off so quickly. It is hard to guess what psychological effect an instant balanced budget will have on global financial markets.

Long War: In Afghanistan, Kandahar: Over the past few weeks there have been five assassinations of political leaders, all of them President Karzai's allies. The most recent was yesterday when a suicide bomber killed the mayor of Kandahar, which almost completely destroys Karzai's influence in southern Afghanistan. The Taliban was at first surprised by the assassination but then decided to take credit for it. Here is an abbreviated quote from the assassinated mayor's daughter: "The Taliban did not kill my father... there are elements within... the police chiefs, who are criminals... and President Obama invests in them."

So it is possible that the CIA's new point man in southern Afghanistan, Police Chief of Kandahar General Razik, is behind all these assassinations.

In the western mountains of Afghanistan the rebels made their biggest one day advance ever against Gaddafi's army. The rebels say they were given satellite data by NATO. But NATO says it did no such thing. So again we have an example of CIA fingerprints.

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