France Terror Heading to US, Oil Crash Equals Market Crash, Obama’s Phony Recovery

 The MI 5 Chief says Islamic terrorists from Syria are planning more attacks on the West. Andrew Parker says al-Qaeda fighters from Syria are planning mass casualty attacks against the West. He was not specific on the targets, but an attack on the United Kingdom was highly likely according to Parker. Parker also said that these terrorists want to "cause large-scale loss of life, often by attacking transport systems or iconic targets."

Folks may be celebrating plunging gasoline prices, but there is a big downside, and that is possible financial calamity associated with debt tied to oil and fracking. JP Morgan and Citi have about $135 trillion in derivatives between them. You might remember that JP Morgan and Citi were frantic to get Congress to void taxpayer protections from risky derivatives. Now, in the event of a derivative meltdown, the taxpayer is going to be on the hook for losses, and the losses could be huge.

Finally, the President is getting ready for the State of the Union address, and he is going to tout the so-called recovery. As you know, I have been telling you there is no real recovery for Main Street. Of course, there are a few bright spots, and the only recovery taking place is for Wall Street.





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