Market Live = Eurozone Crisis

Telegraph Live: Reports European Banks are stashing their extra money at the European Central Bank and not lending to other Banks. As noted a mystery bank had to loan five hundred million dollars from the ECB due to the fact it could not raise the loan from other markets. It can be argued with some justification that a French Bank or Banks are in trouble. But also Italy is in the frame folks. One would not be surprised to see either French or Italian Government have to bailout out their banks due to these banks holding vast Greek debt. Also at what point will the ECB stop buying Italian and Spain bonds, if you print to much money you end up back in Weimar Germany. The political and economic general opinion is that that the US and the EU is going through another 1930s recession/depression, lets hope it’s not true folks, it took World War Two to end the Great Depression.

UK and European Fall

BBC News: Reports on the dive in shares in both the UK and Europe, at 10.46am, the FTSE - 100 is down 2.29%, while in Europe the trend is between 2% and 3%. The next big economic news will come from the US, with those getting employment. The Obama White House needs to create jobs, in the recession of 1982/83 the US was in dire straights, but from that major recession came a economic boom, this was done with Tax cuts, cutting Government spending, also a massive increase in Defence spending, Obama keeps wanting to raise taxes and cut defence spending, no wonder he looks like a one term President.

Obama and Syria

Thus here are the meaningless words of POTUS when it comes to Syria, “ The United States has been inspired by the Syrian peoples’ pursuit of a peaceful transition to democracy. They have braved ferocious brutality at the hands of their government. They have spoken with their peaceful marches, their silent shaming of the Syrian regime, and their courageous persistence in the face of brutality – day after day, week after week. The Syrian government has responded with a sustained onslaught. I strongly condemn this brutality, including the disgraceful attacks on Syrian civilians in cities like Hama and Deir al Zour, and the arrests of opposition figures who have been denied justice and subjected to torture at the hands of the regime. These violations of the universal rights of the Syrian people have revealed to Syria, the region, and the world the Assad government’s flagrant disrespect for the dignity of the Syrian people. ”. And what has the ex Community Organizer done to help the Syrian people, NOTHING. It can be argued that the Oval is quick to throw US allies under the bus faster than its enemies, thus the case with the ex President of Egypt Hosni Mubarak, its constant critical view of Israel, but its more muted to the repression of the peoples of Iran and Syria. The supporters of President Obama have argued that he took tough action over Libya, lets be honest here folks, Obama was shamed by the actions of the UK and France, the view from the Oval was that it was leading from behind, can you see Reagan using such a phrase. The Oval says the following of its joint action with EU over Syria, “ The United States opposes the use of violence against peaceful protesters in Syria, and we support the universal rights of the Syrian people. We have imposed sanctions on President Assad and his government. The European Union has imposed sanctions as well. We helped lead an effort at the UN Security Council to condemn Syria’s actions. We have coordinated closely with allies and partners from the region and around the world. The Assad government has now been condemned by countries in all parts of the globe, and can look only to Iran for support for its brutal and unjust crackdown. ”. Folks the Assad Regime does not fear sanctions, one can argue that it will always get support from Iran, thus the Regime will never starve, the Syrian people might not their leaders. Also Syria will be supplied from Iran with its military needs, Iran needs Syria, it allows Iran to keep pressure on the US and Israel. In the statement, POTUS states the following on the Assad leadership of Syria “ The future of Syria must be determined by its people, but President Bashar al-Assad is standing in their way. His calls for dialogue and reform have rung hollow while he is imprisoning, torturing, and slaughtering his own people. We have consistently said that President Assad must lead a democratic transition or get out of the way. He has not led. For the sake of the Syrian people, the time has come for President Assad to step aside. ”. It can be argued that President Assad understands Obama, after the slow progress in Libya Obama does not have the backbone to be President of the US. Obama is a follower not a leader, when people are not fainting at his feat he has lead feet, harsh but true folks. 　The lack of a backbone is shown by this in the statement, “ The United States cannot and will not impose this transition upon Syria. It is up to the Syrian people to choose their own leaders, and we have heard their strong desire that there not be foreign intervention in their movement. What the United States will support is an effort to bring about a Syria that is democratic, just, and inclusive for all Syrians. We will support this outcome by pressuring President Assad to get out of the way of this transition, and standing up for the universal rights of the Syrian people along with others in the international community. ”. In other words President Assad go on killing your own people, there is a Jimmy Carter in the White House, a weak feckless leader, hardly Reagan calling the USSR an Evil Empire and making sure it fell. Obama is no Reagan or JFK folks, lets recall Obama left the actual TV statement to Secretary of State Hillary Clinton, one can argue this is the time for Secretary Clinton to resign over Syria, and then run against Obama, even if she does not win she could do a Reagan of 1976, challenge an President, and should he lose be the nominee the next time around. If Secretary Clinton stays and Obama is defeated in 2012 the defeat might finish her chances in 2016.