Mish's Global Economic Trend Analysis

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Taliban Storm Afghanistan, Beheadings Galore Posted: 26 Sep 2014 12:48 PM PDT Having spent well over $3 trillion dollars in Iraq and Afghanistan what do we have to show for it? Shias aligned with Iran rule Baghdad ISIS took over parts of over Iraq ISIS threatens to take over Syria The average Pakistani hates the US for drone policy Taliban threatens to take over Afghanistan Taliban Storm Afghanistan Please consider Taliban Storm Afghan District Southwest of Capital, 100 Killed Hundreds of Taliban fighters have stormed a strategic district in an Afghan province southwest of the capital and are on the verge of capturing it after killing dozens of people and beheading some in days of fighting, officials said on Friday. The Ghazni provincial government has lost contact with police in the province's western district of Ajrestan, said Asadullah Safi, deputy police chief of the area. An army unit reported that fighting was raging late on Friday afternoon, another provincial official said. "If there is no urgent help from the central government, the district will collapse," Safi said earlier. No longer pinned down by U.S. air cover, Taliban fighters are attacking Afghan military posts in large numbers with the aim of taking and holding ground. The attack by an estimated 700 Taliban fighters began about five days ago and early reports were that more than 100 people had been killed, including 15 who were beheaded by the militants, said provincial deputy governor Ahmadullah Ahmadi. "Without international support it will be hard to provide security ... The example of Ajrestan district shows that without international commitment of troops, it will be difficult to handle the Taliban." War on Multiple Fronts Every instance of US meddling has made matters worse. Tens of thousands of innocent civilians are dead and the economy of Iraq is destroyed. Our policy is now so tangled we are bombing our friends and protecting those we seek to depose. Can it get still more convoluted? Of course it can. Just add Israel, Pakistan, or Russia to the mix. Perpetual war on multiple fronts simultaneously is the warmonger's ultimate wet dream. "Success" is nearly at hand. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

PIMCO About to Fire Gross for "Erratic Behavior"; Janus Picks up Gross, Shares Jump 40% Posted: 26 Sep 2014 09:10 AM PDT Global macro news this is not, but here's an interesting story. Bond Guru and PIMCO co-founder Bill Gross Was Going to Be Fired for 'Erratic Behavior,' Says CNBC. Barron's reports Gross Leaves Pimco for Janus; Knew He Was Being Shown the Door. CNBC's Andrew Ross Sorkin said on air, the fund world was experiencing "shock and surprise" at Gross's move, which was highly unexpected to most. Dow Jones is running headlines that "Gross's move pre-empted his dismissal," citing an unnamed source. Sorkin's colleagues Jim Cramer and David Faber joked on the channel about how Gross will be giving up the trillions of fixed income investments he controlled at Pimco Total Return for a mere $12 billion or so invested by Janus in fixed income. Sorkin reported that one factor may have been that Janus's CEO, Richard Weil, used to be COO of Pimco, and that he left on a not-so-happy note from Pimco, which may mean there's something personal for him in luring away Gross. Gross is quoted as saying "I look forward to returning my full focus to the fixed income markets and investing, giving up many of the complexities that go with managing a large, complicated organization." Janus Intraday Shares of Janus (JNS) soared from 11 to as high as 15.58 on the announcement. That's a 41.68% move. How much of that gain holds remains to be seen. Janus is currently up about 31.50%. Anyone pick up any cheap options yesterday? Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com  Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

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