13 August 2015

SP 500 and NDX Futures Daily Charts - Whiling Away the Stabilization Phase of the Markets

"...further, the distinction between military and commercial space systems – combatants and noncombatants – will become blurred.  Information systems will become an important focus of attack, particularly for U.S. enemies seeking to short-circuit sophisticated American forces. And advanced forms of biological warfare that can 'target' specific genotypes may transform biological warfare from the realm of terror to a politically useful tool.

This is merely a glimpse of the possibilities inherent in the process of transformation, not a precise prediction. Whatever the shape and direction of this revolution in military affairs, the implications for continued American military preeminence will be profound.

...the process of transformation, even if it brings revolutionary change, is likely to be a long one, absent some catastrophic and catalyzing event – like a new Pearl Harbor. "

The Project For a New American Century, Rebuilding America's Defenses

The Project For a New American Century was a think tank founded in 1997 by Robert Kagan and William Kristol, with John Bolton, Bruce Jackson, and Devon Gaffney Cross as Directors.  Robert Kagan is the husband of Victoria Nuland.  PNAC was replaced in 2006 by the 'Foreign Policy Initiative' which was also founded by Kristol and Kagan.

In addition to promoting 'neo-conservative' policies within the Clinton, Bush, and Obama Administrations, the organization issued a major position paper called Rebuilding America's Defenses which you may read about here.

PNAC was a leading proponent for regime change and the wars in Iraq, etc.  Here is a list of the original signatories although there is no evidence that they specifically approved of this position paper.  There is a list of contributors on the last page of the paper itself.

A 'genotype' refers to a person's genetic (racial) characteristics (heritage) as well as any specific genetically related disorders such as Down Syndrome,  muscular dystrophy, etc.

The US equity markets were in a 'stabilization phase today, after the big push to get the major indices up off support yesterday, resulting in a remarkable rally.

China continued to devalue the yuan last night for the third time, but by a lesser amount.  They also held a press conference to try and smooth out any panic from the markets.

Have a pleasant evening.