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OBAMA: 'DEEPLY TROUBLED'
THE HILL: "It would be wrong for me to be silent on what we've seen on the television the last few days," Obama said, addressing reporters in the Oval Office . . . He added that he is "deeply troubled by the violence that I’ve been seeing on television." . . . READ MORE
VIDEO: GUARDS FIRE ON TEHRAN CROWD
BBC: Shots have been fired during a massive rally in Iran . . . with reports saying one person was killed. . . . READ MORE
U.S. TAKES 'WAIT-AND-SEE' STANCE
FOX NEWS: State Department spokesman Ian Kelly told reporters the U.S. is concerned about allegations of ballot fraud, though it knows too little about the conduct of the election to say whether fraud occurred. He declined to "condemn" Iranian security forces for their crackdown on protesters . . . READ MORE BLOG REACTION: JULES CRITTENDEN, GATEWAY PUNDIT, MICHELLE MALKIN, HOT AIR, AMERICAN POWER, RED STATE, THE RHETORICAN, PROTEIN WISDOM, MEMEORANDUM OBAMA AIDE: 'NOT ABOUT US'
WASHINGTON POST: Senior administration official: "This was always going to be hard . . . . there is clearly a debate going on among Iranians about Iran. It is not about us" . . . READ MORE REPORT: MINISTRY LEAK SHOWS
REFORM CANDIDATE WON VOTE
UK TELEGRAPH: Reports circulated of leaked interior ministry statistics showing Mir-Hossein Mousavi as the clear victor . . . The statistics, circulated on Iranian blogs and websites, claimed Mr Mousavi had won 19.1 million votes while Mahmoud Ahmadinejad had won only 5.7 million . . . Mr Mousavi has accused Iran's government of "fraud" . . . The capital has been rocked by disturbances for the last three days . . . READ MORE COMMENTARY
HOW THE MULLAHS TOOK IRAN
PEJMAN YOUSEFZADEH: Khomeini stole a page from Plato’s Republic, took the idea of having a philosopher-king rule and applied it to Iran by working to bring about a political society in which the clergy would directly wield political power, with a Supreme Religious Guide to lead the way. . . . READ MORE
THE IRAQ FACTOR
WILLIAM JACOBSON: The effects of a free Iraq, in which there is a multitude of competing parties and widespread economic freedom, must be great on the Iranians. . . . While Iraq still is subjected to violence, the contrast between the direction Iraq is moving, and the stagnant Iran, could not be more clear, and must not be lost on Iranians in the streets . . . READ MORE
WHILE AMERICA SLEEPS
CLARENDON/PJM: Last Friday, President Obama praised the elections in Iran for the “vigorous debate” taking place. At the time of this writing, he’s had far less to say about the vigorous beatings taking place in Tehran, where the batons are falling on those who dared think their vote mattered. . . . READ MORE
MAHMOUD WON; GET OVER IT
FLYNT LEVERETT & HILLARY MANN LEVERETT: Without any evidence, many U.S. politicians and "Iran experts" have dismissed Iranian President Mahmoud Ahmadinejad’s re-election as fraud. They ignore the fact that Ahmadinejad’s 62.6 percent of the vote in this year's election is essentially the same as the 61.69 percent he received in 2005 . . . . READ MORE
Monday, June 15, 2009
WALL STREET P.M. 06.15.09:
U.S. STOCKS FALL SHARPLY
DJIA: -187.13 CLOSE 8,612.13
S&P 500 -22.49 CLOSE 923.72
NASDAQ -42.42 CLOSE 1,816.38
MARKET DOWN ON LATEST DATA
ON HOUSING, MANUFACTURING
ASSOCIATED PRESS: Harry Rady, chief executive of Rady Asset Management, said stocks have risen too fast given how troubled the economy remains. "The market just seems to keep driving the car into the wall and then wonders why it can't keep driving," Rady said. . . READ MORE
RECESSION CONCERN RETURNS
CNN/MONEY: Stocks slumped on worries that the recession may not be waning as soon as some had hoped. . . . Kim Caughey, senior equity analyst at Fort Pitt Capital Group, said comments coming out of the Group of Eight finance ministers' meeting last weekend were exacerbating worries about the health of the global economy . . . READ MORE
EUROPEAN ECONOMIST: WORST
OF RECESSION ISN'T OVER YET
SYDNEY MORNING HERALD: "I don't think the worst is behind us . . . We've not seen everything yet," Erik Berglof, chief economist at the European Bank for Reconstruction and Development, said on Monday at the annual Forbes CEO forum in Gleneagles, Scotland . . . EU Competition Commissioner Neelie Kroes said the savage credit crunch will continue to strangle the world's leading economies: "There's still not the trust in the banking world," Kroes told the Forbes business gathering . . . READ MORE
FED OFFICIAL: CAN'T OFFSET
'FLOOD' OF U.S. BORROWING
BLOOMBERG: The Federal Reserve isn't capable of offsetting the "flood" of U.S. Treasury borrowing with its bond-purchase program, Dallas district-bank President Richard Fisher said. . . . The Fed's efforts to stimulate the economy are complicated by rising Treasury yields, which push up the cost of mortgages even after policy makers have lowered short-term interest rates near zero. . . . READ MORE
RATES DOWN ON 6-MO. T-BILLS
ASSOCIATED PRESS: Interest rates on six-month Treasury bills have fallen to the lowest level this year, but economists are more worried about recent rise in long-term rates because it could threaten a rebound in the housing market. The Treasury Department on Monday auctioned $30 billion in six-month bills and $31 billion in three-month bills . . . READ MORE
S&P 500 -22.49 CLOSE 923.72
NASDAQ -42.42 CLOSE 1,816.38
MARKET DOWN ON LATEST DATA
ON HOUSING, MANUFACTURING
ASSOCIATED PRESS: Harry Rady, chief executive of Rady Asset Management, said stocks have risen too fast given how troubled the economy remains. "The market just seems to keep driving the car into the wall and then wonders why it can't keep driving," Rady said. . . READ MORE
RECESSION CONCERN RETURNS
CNN/MONEY: Stocks slumped on worries that the recession may not be waning as soon as some had hoped. . . . Kim Caughey, senior equity analyst at Fort Pitt Capital Group, said comments coming out of the Group of Eight finance ministers' meeting last weekend were exacerbating worries about the health of the global economy . . . READ MORE
EUROPEAN ECONOMIST: WORST
OF RECESSION ISN'T OVER YET
SYDNEY MORNING HERALD: "I don't think the worst is behind us . . . We've not seen everything yet," Erik Berglof, chief economist at the European Bank for Reconstruction and Development, said on Monday at the annual Forbes CEO forum in Gleneagles, Scotland . . . EU Competition Commissioner Neelie Kroes said the savage credit crunch will continue to strangle the world's leading economies: "There's still not the trust in the banking world," Kroes told the Forbes business gathering . . . READ MORE
FED OFFICIAL: CAN'T OFFSET
'FLOOD' OF U.S. BORROWING
BLOOMBERG: The Federal Reserve isn't capable of offsetting the "flood" of U.S. Treasury borrowing with its bond-purchase program, Dallas district-bank President Richard Fisher said. . . . The Fed's efforts to stimulate the economy are complicated by rising Treasury yields, which push up the cost of mortgages even after policy makers have lowered short-term interest rates near zero. . . . READ MORE
RATES DOWN ON 6-MO. T-BILLS
ASSOCIATED PRESS: Interest rates on six-month Treasury bills have fallen to the lowest level this year, but economists are more worried about recent rise in long-term rates because it could threaten a rebound in the housing market. The Treasury Department on Monday auctioned $30 billion in six-month bills and $31 billion in three-month bills . . . READ MORE
DEM: HEALTH CARE PLAN
WILL COST $1 TRILLION
BENEFITS WOULD BE TAXED
WASHINGTON TIMES: Congressional leaders searching for ways to fund an overhaul of the nation's health care system are prepared to tax for the first time employer-provided medical benefits . . . Rep. Charles B. Rangel, New York Democrat and chairman of the House Ways and Means Committee, put the estimated cost of a reform bill at $1 trillion, but warned Friday that's a broad estimate. Others have put the estimate at $1.5 trillion or as high as $2 trillion. . . . READ MORE
OBAMA SEEKS A.M.A. SUPPORT
ASSOCIATED PRESS: President Barack Obama . . . will urge doctors gathered in Chicago to support wider insurance coverage and targeted federal spending cuts . . . To an audience of doctors Obama plans to say the United States spends too much on health care and gets too little in return. He says the health industry is crushing businesses and families and is leading to millions of Americans losing coverage . . . READ MORE
WASHINGTON TIMES: Congressional leaders searching for ways to fund an overhaul of the nation's health care system are prepared to tax for the first time employer-provided medical benefits . . . Rep. Charles B. Rangel, New York Democrat and chairman of the House Ways and Means Committee, put the estimated cost of a reform bill at $1 trillion, but warned Friday that's a broad estimate. Others have put the estimate at $1.5 trillion or as high as $2 trillion. . . . READ MORE
OBAMA SEEKS A.M.A. SUPPORT
ASSOCIATED PRESS: President Barack Obama . . . will urge doctors gathered in Chicago to support wider insurance coverage and targeted federal spending cuts . . . To an audience of doctors Obama plans to say the United States spends too much on health care and gets too little in return. He says the health industry is crushing businesses and families and is leading to millions of Americans losing coverage . . . READ MORE
NETANYAHU PROPOSES
TWO-STATE SOLUTION
REJECTED BY PALESTINIANS
ASSOCIATED PRESS: Netanyahu announced on national TV late Sunday that he was prepared to begin negotiations on the establishment of an independent Palestinian state. But he insisted that a future Palestine be demiliitarized . . . Palestinian officials denounced Netanyahu's proposal immediately after he finished his speech . . . READ MORE
TEXT OF NETANYAHU SPEECH
WHITE HOUSE PRAISES PLAN
FOX NEWS: "The president is committed to two states, a Jewish State of Israel and an independent Palestine, in the historic homeland of both peoples," White House Press Secretary Robert Gibbs said in a statement. "He believes this solution can and must ensure both Israel's security and the fulfillment of the Palestinians' legitimate aspirations for a viable state, and he welcomes Prime Minister Netanyahu's endorsement of that goal." . . . READ MORE
ASSOCIATED PRESS: Netanyahu announced on national TV late Sunday that he was prepared to begin negotiations on the establishment of an independent Palestinian state. But he insisted that a future Palestine be demiliitarized . . . Palestinian officials denounced Netanyahu's proposal immediately after he finished his speech . . . READ MORE
TEXT OF NETANYAHU SPEECH
WHITE HOUSE PRAISES PLAN
FOX NEWS: "The president is committed to two states, a Jewish State of Israel and an independent Palestine, in the historic homeland of both peoples," White House Press Secretary Robert Gibbs said in a statement. "He believes this solution can and must ensure both Israel's security and the fulfillment of the Palestinians' legitimate aspirations for a viable state, and he welcomes Prime Minister Netanyahu's endorsement of that goal." . . . READ MORE
LAKERS WIN; L.A. RIOTS
UK GUARDIAN: Hundreds celebrated in the streets outside Staples Center after the Los Angeles Lakers defeated the Orlando Magic 99-86 in Game 5 of NBA finals. At least five were arrested; two police cruisers were damaged . . . READ MORE
KTLA: Celebration turned to near riots . . . At least eight people were arrested . . . On 11th and Figueroa in front of the Staples Center, some revelers grew aggressive attempting to topple squad cars, set off illegal fireworks, set trashcans on fire, rip apart trees, and throw bottles and objects at police officers. . . . READ MORE
KTLA: Celebration turned to near riots . . . At least eight people were arrested . . . On 11th and Figueroa in front of the Staples Center, some revelers grew aggressive attempting to topple squad cars, set off illegal fireworks, set trashcans on fire, rip apart trees, and throw bottles and objects at police officers. . . . READ MORE
A.M. MARKET UPDATE 06.15.09
NIKKEI POSTS SLIGHT LOSS;
WAITS U.S. DATA THIS WEEK
REUTERS: Nikkei stock average edged down 0.5 percent on Monday . . . Market analysts said shares were taking a breather after closing above 10,000 on Friday for the first time in eight months, with investors focused on U.S. indicators due out later this week. . . . READ MORE
EUROPEAN MARKETS DOWN
WALL STREET JOURNAL: European stocks headed lower Monday, hit by selling in the heavyweight commodity stocks as investors cash in profits in the oil and mining sectors . . . At 0805 GMT, the pan-European Stoxx 600 was down 1.6% at 210.83. London's FTSE 100 index was off 1.8% to 4358.32, Frankfurt's DAX index fell 2.0% to 4965.38, and the CAC-40 index in Paris was down 1.9% at 3262.24. . . . READ MORE
SIGNS POINT TO STOCK FALL
CNN/MONEY: U.S. stocks were set to fall sharply Monday as a stronger dollar took momentum out of the commodities rally and investors paused for breath after the recent run on Wall Street.
At 4:45 a.m. ET, Dow Jones industrial average, S&P 500 and Nasdaq 100 futures were lower. . . .READ MORE
WAITS U.S. DATA THIS WEEK
REUTERS: Nikkei stock average edged down 0.5 percent on Monday . . . Market analysts said shares were taking a breather after closing above 10,000 on Friday for the first time in eight months, with investors focused on U.S. indicators due out later this week. . . . READ MORE
EUROPEAN MARKETS DOWN
WALL STREET JOURNAL: European stocks headed lower Monday, hit by selling in the heavyweight commodity stocks as investors cash in profits in the oil and mining sectors . . . At 0805 GMT, the pan-European Stoxx 600 was down 1.6% at 210.83. London's FTSE 100 index was off 1.8% to 4358.32, Frankfurt's DAX index fell 2.0% to 4965.38, and the CAC-40 index in Paris was down 1.9% at 3262.24. . . . READ MORE
SIGNS POINT TO STOCK FALL
CNN/MONEY: U.S. stocks were set to fall sharply Monday as a stronger dollar took momentum out of the commodities rally and investors paused for breath after the recent run on Wall Street.
At 4:45 a.m. ET, Dow Jones industrial average, S&P 500 and Nasdaq 100 futures were lower. . . .READ MORE
300 WORDS OR LESS: 06.15.09
Iran on the Brink
Was the election in Iran legitimate? Did Mahmoud Ahmadinejad really win a 63 percent landslide? The question is moot. The result is the same either way and we have been reminded, as Ben Domenech observes, that in Iran "the mullahs determine who wins and who loses, a fact that has nothing to do with the actual votes cast at the ballot box."
The possibility that Iranians protesting against the mullahs' rule will somehow topple Ahmadinejad's regime is, alas, remote. No Western power appears willing to challenge the regime in Iran. The demonstrators being beaten in the streets of Tehran seem to evoke no sympathy from Barack Obama or anyone in his administration. If the White House is relying on the foreign policy expertise of Vice President Joe Biden, certainly no intelligent response is to be expected.
Obama apparently meant what he said in promising there would be "no preconditions" for negotiating with Ahmadinejad. Is the Iranian president's re-election legitimate? Is dissent being brutally crushed in Tehran? Never mind. "No preconditions."
Given unlimited latitude to do as he wishes, what will Ahmadinejad do? We do not know. What we do know is that he has no fear of Iranian opponents, nor any expectation of meaningful action against him by the United States or its weak European allies.
Ahmadinejad re-elected (legitimately or otherwise) is a greater potential threat to peace in a region where peace is never more than a temporary lull in permanent hostility. Whatever lull now exists is not likely to last long, and Hope recedes, proclaiming its motto, "No preconditions."
-- RSM
Was the election in Iran legitimate? Did Mahmoud Ahmadinejad really win a 63 percent landslide? The question is moot. The result is the same either way and we have been reminded, as Ben Domenech observes, that in Iran "the mullahs determine who wins and who loses, a fact that has nothing to do with the actual votes cast at the ballot box."
The possibility that Iranians protesting against the mullahs' rule will somehow topple Ahmadinejad's regime is, alas, remote. No Western power appears willing to challenge the regime in Iran. The demonstrators being beaten in the streets of Tehran seem to evoke no sympathy from Barack Obama or anyone in his administration. If the White House is relying on the foreign policy expertise of Vice President Joe Biden, certainly no intelligent response is to be expected.
Obama apparently meant what he said in promising there would be "no preconditions" for negotiating with Ahmadinejad. Is the Iranian president's re-election legitimate? Is dissent being brutally crushed in Tehran? Never mind. "No preconditions."
Given unlimited latitude to do as he wishes, what will Ahmadinejad do? We do not know. What we do know is that he has no fear of Iranian opponents, nor any expectation of meaningful action against him by the United States or its weak European allies.
Ahmadinejad re-elected (legitimately or otherwise) is a greater potential threat to peace in a region where peace is never more than a temporary lull in permanent hostility. Whatever lull now exists is not likely to last long, and Hope recedes, proclaiming its motto, "No preconditions."
-- RSM
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