The most eventful day of most months is here. The monthly jobs reports just came out and the report was slightly worse than expected. In September the economy shrank by 264,000. The expected number was 225,000. The average work week fell back to 33 hours a week from 33.1 in August. That's a very troubling number. The average work week was shrinking until August when it began to grow again. This number is at all time lows. Companies will cut back hours before they fire and layoff and so this number is more a leading indicator than a lagging indicator, which is what the overall jobs number is. This is also the 21st straight month that jobs shrank. The unemployment rate is now 9.8%.
Both equities and bonds are reacting as expected. All three indices were down tremendously yesterday. The ISM index came out about an hour in yesterday. That was worse than expected and things turned bloody after that. The Dow was down 203, the NASDAQ was down 64.94 and the S&P was down 27.22. The Dow is down over one hundred today. Meanwhile, the ten year U.S. Treasury bond is at 3.10%. That's so low I would need to check how long it's been since we have seen it there. It's been at least half year in my estimation. Mortgage rates are now solidly below 5% on the 30 year mortgage and with a few more good days they may test 4.5%. Oil is currently at $68.79. That's down nearly $2 from the close yesterday but up over the last few days.
Right now is a critical time for the economy. September auto sales were anemic. That's a sign that cash for clunkers took future sales away. The first time homebuyer's credit will go away in November. We are soon going to find out if the economy is leveling and improving or if we saw blips from short term artificial stimuli like cash for clunkers and the credit.
Markets around the world are down nearly universally this morning as well. The Hang Seng in China is down 2.77%, the NIKKEI in Japan was down 2.47% and the Straits Time Index in Singapore was down 1.99%. The broader Chinese index was even but that's the only major index in both Europe and the Far East that wasn't down today. In Europe, the FTSE in London was down 1.63%, the DAX in Germany was down 1.71%, and the Spanish index was down 2.08%.
The Dollar is mixed this morning. It's up by .21% against the Euro, up by .73% against the British Pound but down by .5% against the Japanese Yen.
Friday, October 2, 2009
Thursday, October 1, 2009
Video, Quote and Word of the Day
homily
a sermon
Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost.
John Quincy Adams
Questions for Congressman Brad Miller and General Eric Shinseki: A Thought Experiment
UPDATE: Please also check out my new book, The Definitive Dossier on PTSD in Whistleblowers, for only $3.99, in which I dedicate chapter four entirely to the exploits of Dr. Anna Chacko.
Introduction: This is the latest installment in my series about Dr. Anna Chacko. Dr. Chacko is currently the head of radiology at the Pittsburgh VA. She's been at the Pittsburgh VA since October of 2008. Almost immediately, according to sources I spoke to in a position to know, staff at the VA hospital began complaining about her behavior. They described her as tyrannical, a liar, an incompetent, she refused to do required clinical work, she divided the radiology department, and she created an environment of fear. Let me be clear. This is not me saying it, but rather this is her colleagues saying it. In March of 2009, an "investigative board" was formed. This is a mechanism which the VA system uses to discipline doctors and staff. In April of 2009, the investigative board recommended that Dr. Chacko be removed. Dr. Chacko challenged the results. She then reached out to Democratic Congressman Brad Miller of North Carolina. Congressman Miller had investigated the same Pittsburgh VA on a different matter two years prior. In that investigation, Miller investigated the destruction of a rare strand of legionella. On May 15, Congressman Miller wrote a letter to General Shinseki, the head of the VA, in support of Dr. Chacko. Within two to three weeks of that later, sources tell me that word came down from Shinseki or his office and Dr. Chacko was reinstated. Following a management class, Dr. Chacko came back to work on August 1st of this year. According to my sources, things have gotten even worse since then.
Prior to working at the Pittsburgh VA, Dr. Chacko worked at St. James Hospital in Butte, Mt. She spent fourteen months there. Her time there included four lawsuits. The radiology department was seven figures in the black prior to her arrival, and was deep in the red upon her departure. The CEO of the hospital, James Kiser, most responsible for hiring her left six months into her tenure citing a need for "a change of leadership". When she left, she took the other three radiologists she brought in with her.
Beyond this, I have spoken with former colleagues of Dr. Chacko from places like Boston, Pittsburgh, Chicago, Seattle, Butte, and New Mexico and they have described a pattern of behavior that has lead me to conclude that Dr. Chacko is in fact a Psychopath. Many suffer from Post Traumatic Stress Disorder. Others have spent hundreds of thousands in legal bills defending themselves against suits filed by Dr. Chacko. Most if not all remain scarred from the experience of working for and with her even years later. Also, Dr. Chacko's main defender at the Pittsburgh VA is Dr. Bob Shah. Dr. Chacko and Dr. Shah have worked together since the 1990's. The've worked together in Texas, Boston, Butte, and in the Pittsburgh VA. (Dr. Chacko spent two decades in the military earning the rank of Colonel) They are both in the 60's and yet over the last three years they've worked together at the Boston University Medical Center in Boston, St. James Hospital in Butte, Mt. and at the Pittsburgh VA. Finally, sources from Lahey Clinic, where Dr. Chacko worked for nearly six years and the Pittsburgh VA tell me that Dr. Chacko is very good friends with Lt. General James Peake, the head of the VA previous to General Shinseki. The same sources tell me that their relationship goes back nearly two decades
I have on numerous occasions reached out to both Congressman Brad Miller and General Shinseki by both email and phone and neither has responded to repeated requests. My sources at the Pittsburgh VA tell me that General Shinseki is aware of the series and is "unhappy" that his name is constantly mentioned. I don't know if Congressman Miller is aware of my articles though I have forwarded several asking for comment. So, since neither is willing to speak to me YET, I will do a thought experiment and here are the questions that I would ask each if I could get them or their staff on the phone. Some questions I would ask of both and I will indicate as such for those.
General Shinseki:
1) My sources tell me that Dr. Chacko was reinstated upon your orders or at least orders of your office. Is this correct or am I wrong? If I'm wrong, why have you allowed for article after article to smear you without correcting the record?
2) Is it appropriate for the head of the VA system to override the Pittsburgh VA in hiring matters at the Pittsburgh VA? The Pittsburgh VA was ready to remove Dr. Chacko until you stepped in. Do you make a habit of micromanaging the hiring decisions of individual VA hospitals? Do you think such a leadership style is effective?
3)(this question goes to both Miller and Shinseki) My sources tell me that at the "investigative board" six of the fourteen members of the radiology department testified against Dr. Chacko. Once she challenged the results, she was given access to the testimony. If in fact, I'm right and Dr. Chacko is a Psychopath, do you understand the position you have put all those that testified against her in? Do you understand the terror that the workplace is for all those that testified against her? Do you care? Are you doing anything to correct this?
4)By now most of the Pittsburgh VA hospital has read all my pieces. My statcounter can confirm that. Even if nothing I've said is accurate, isn't it true that the proverbial waters are poisoned there? How can Dr. Chacko effectively lead the radiology department when each and every person she leads has read a series of stories that depict her as a Psychopath? No matter what, wouldn't you agree that given that what I have written has been read by most of the hospital, Dr. Chacko can no longer work there?
5) Did you consult with General James Peake prior to deciding that Dr. Chacko should be kept in place? How much do you know about their relationship? Are they friends or is their relationship more complicated than that? If it's more complicated, were you at all suspect of what he told you?
6) Are you aware that Dr. Chacko has lived and worked in Boston, Butte, Mt. and Pittsburgh all in the last three years? Are you aware that Dr. Chacko moved to Butte from Boston and fourteen months later moved to the Pittsburgh VA? Given that five months into her tenure, the Pittsburgh VA wanted her removed, doesn't her work history lend credence to the Pittsburgh VA's decision to remove her? What criteria did you use to keep her in place?
7) Do you know how Dr. Chacko's military career ended? Did it end amicably or was she forcibly removed?
8) Are you at all concerned that Dr. Shah, her only defender at the Pittsburgh VA, has worked with her at the Brooke Army Medical Center in Texas, Lahey Clinic in Boston, the BU Medical Center in Boston, St. James Hospital in Butte, Mt. and the Pittsburgh VA? I believe their relationship is untoward. Did you examine this relationship at all before you decided to keep both of them in place?
9) Has Dr. Chacko approached you about having her company Moly99Montana being the supplier of technetium for the VA system? Given that she is an employee of the Pittsburgh VA would this be an appropriate relationship to have?
10) If I am right, and Dr. Chacko is a Psychopath, a person with no conscience, and you subverted the authority of the Pittsburgh VA and kept her in place, how can you justify continuing to head of the VA? If after a full investigation I am proven correct, would you agree to step down?
Congressman Brad Miller
1) In your letter to General Shinseki you called your action in writing the letter "unusual". Under what authority do you believe you can weigh in on the hiring and firing decisions of the Pittsburgh VA?
2) How does helping Dr. Chacko, a radiologist in the Pittsburgh VA, help the constituents of the 13th District of North Carolina? What do you tell a citizen of Raleigh, North Carolina if they ask you why you stepped in and weighed into a hiring decision at the Pittsburgh VA?
3) I used Google for five minutes and I discovered that Dr. Chacko was involved in four lawsuits in Butte, spent fourteen months there, and left with her entire team. How much research did you do about Dr. Chacko before concluding that it was "unfounded" that Dr. Chacko's leadership was affecting performance at the Pittsburgh VA?
4) Are you following my stories? Are you at all concerned that you stuck up for someone that should have been fired? Are you doing anything now to rectify the situation? Are you doing anything? Do you feel any responsibility for the nightmare of all those that testified against Dr. Chacko?
5)Did you speak to anyone at the Pittsburgh VA before deciding to write that letter? A source tells me that they called your office anonymously and spent a long time on the phone with an aide of yours and told them in detail about Dr. Chacko's disruptive behavior. Is this accurate? Your letter appeared one sided. Did you try and get the other side before writing the letter?
6) Are you aware of Kristi George's civil suit against Dr. Chacko? Ms. George was a former colleague of Dr. Chacko at St. James Hospital. She alleges that Dr. Chacko lied about her in an attempt to get her fired. That suit was wrapping up when you wrote the letter. Did you attempt to reach out to Ms. George before writing the letter? You assert that claims that department's performance had "begun to suffer under Chacko's leadership" were unfounded? Wouldn't Ms. George's claims along with the complaints of some in the Pittsburgh VA create a pattern of behavior of a doctor who's leadership is in doubt?
7) You also assert in your letter that there were issues of fairness in the removal of Dr. Chacko. My sources say the same thing but in fact that's procedural. Isn't the proper course to then convene another board and present evidence again in a fair way and not to simply give Dr. Chacko her job back? In other words, the problem wasn't the evidence against Dr. Chacko but rather the way in which it was presented. Wouldn't the right course be to allow the Pittsburgh VA to present the evidence again and consider her removal? My sources tell me the Pittsburgh VA was prepared to do this when word came down from Shinseki's office to keep Dr. Chacko in place.
8) You headed an investigation about a destroyed strand of legionella from the same Pittsburgh VA. You found several of the administration, Dr. Mona Melham, Dr. Jain included, at fault. Most are still with the VA. If in fact I am right and Dr. Chacko is a Psychopath, can't you now see that she would know this and use it to her advantage to "play you"? In other words, isn't it possible that Dr. Chacko seeked you out knowing that if she told you that the same doctors that you found at fault were targeting her that you would be sympathetic to such a story? Doesn't it give you pause that it's possible that you allowed a Psychopath to play you? If that's not accurate, how did it come about that you stepped into this situation?
9) If after a full investigation I am proven correct and Dr. Chacko is a Psychopath and you subverted the system to keep her in her place, is it really appropriate for you to still remain a public servant?
Epilogue:
Here's the definitive dossier on Dr. Chacko.
Introduction: This is the latest installment in my series about Dr. Anna Chacko. Dr. Chacko is currently the head of radiology at the Pittsburgh VA. She's been at the Pittsburgh VA since October of 2008. Almost immediately, according to sources I spoke to in a position to know, staff at the VA hospital began complaining about her behavior. They described her as tyrannical, a liar, an incompetent, she refused to do required clinical work, she divided the radiology department, and she created an environment of fear. Let me be clear. This is not me saying it, but rather this is her colleagues saying it. In March of 2009, an "investigative board" was formed. This is a mechanism which the VA system uses to discipline doctors and staff. In April of 2009, the investigative board recommended that Dr. Chacko be removed. Dr. Chacko challenged the results. She then reached out to Democratic Congressman Brad Miller of North Carolina. Congressman Miller had investigated the same Pittsburgh VA on a different matter two years prior. In that investigation, Miller investigated the destruction of a rare strand of legionella. On May 15, Congressman Miller wrote a letter to General Shinseki, the head of the VA, in support of Dr. Chacko. Within two to three weeks of that later, sources tell me that word came down from Shinseki or his office and Dr. Chacko was reinstated. Following a management class, Dr. Chacko came back to work on August 1st of this year. According to my sources, things have gotten even worse since then.
Prior to working at the Pittsburgh VA, Dr. Chacko worked at St. James Hospital in Butte, Mt. She spent fourteen months there. Her time there included four lawsuits. The radiology department was seven figures in the black prior to her arrival, and was deep in the red upon her departure. The CEO of the hospital, James Kiser, most responsible for hiring her left six months into her tenure citing a need for "a change of leadership". When she left, she took the other three radiologists she brought in with her.
Beyond this, I have spoken with former colleagues of Dr. Chacko from places like Boston, Pittsburgh, Chicago, Seattle, Butte, and New Mexico and they have described a pattern of behavior that has lead me to conclude that Dr. Chacko is in fact a Psychopath. Many suffer from Post Traumatic Stress Disorder. Others have spent hundreds of thousands in legal bills defending themselves against suits filed by Dr. Chacko. Most if not all remain scarred from the experience of working for and with her even years later. Also, Dr. Chacko's main defender at the Pittsburgh VA is Dr. Bob Shah. Dr. Chacko and Dr. Shah have worked together since the 1990's. The've worked together in Texas, Boston, Butte, and in the Pittsburgh VA. (Dr. Chacko spent two decades in the military earning the rank of Colonel) They are both in the 60's and yet over the last three years they've worked together at the Boston University Medical Center in Boston, St. James Hospital in Butte, Mt. and at the Pittsburgh VA. Finally, sources from Lahey Clinic, where Dr. Chacko worked for nearly six years and the Pittsburgh VA tell me that Dr. Chacko is very good friends with Lt. General James Peake, the head of the VA previous to General Shinseki. The same sources tell me that their relationship goes back nearly two decades
I have on numerous occasions reached out to both Congressman Brad Miller and General Shinseki by both email and phone and neither has responded to repeated requests. My sources at the Pittsburgh VA tell me that General Shinseki is aware of the series and is "unhappy" that his name is constantly mentioned. I don't know if Congressman Miller is aware of my articles though I have forwarded several asking for comment. So, since neither is willing to speak to me YET, I will do a thought experiment and here are the questions that I would ask each if I could get them or their staff on the phone. Some questions I would ask of both and I will indicate as such for those.
General Shinseki:
1) My sources tell me that Dr. Chacko was reinstated upon your orders or at least orders of your office. Is this correct or am I wrong? If I'm wrong, why have you allowed for article after article to smear you without correcting the record?
2) Is it appropriate for the head of the VA system to override the Pittsburgh VA in hiring matters at the Pittsburgh VA? The Pittsburgh VA was ready to remove Dr. Chacko until you stepped in. Do you make a habit of micromanaging the hiring decisions of individual VA hospitals? Do you think such a leadership style is effective?
3)(this question goes to both Miller and Shinseki) My sources tell me that at the "investigative board" six of the fourteen members of the radiology department testified against Dr. Chacko. Once she challenged the results, she was given access to the testimony. If in fact, I'm right and Dr. Chacko is a Psychopath, do you understand the position you have put all those that testified against her in? Do you understand the terror that the workplace is for all those that testified against her? Do you care? Are you doing anything to correct this?
4)By now most of the Pittsburgh VA hospital has read all my pieces. My statcounter can confirm that. Even if nothing I've said is accurate, isn't it true that the proverbial waters are poisoned there? How can Dr. Chacko effectively lead the radiology department when each and every person she leads has read a series of stories that depict her as a Psychopath? No matter what, wouldn't you agree that given that what I have written has been read by most of the hospital, Dr. Chacko can no longer work there?
5) Did you consult with General James Peake prior to deciding that Dr. Chacko should be kept in place? How much do you know about their relationship? Are they friends or is their relationship more complicated than that? If it's more complicated, were you at all suspect of what he told you?
6) Are you aware that Dr. Chacko has lived and worked in Boston, Butte, Mt. and Pittsburgh all in the last three years? Are you aware that Dr. Chacko moved to Butte from Boston and fourteen months later moved to the Pittsburgh VA? Given that five months into her tenure, the Pittsburgh VA wanted her removed, doesn't her work history lend credence to the Pittsburgh VA's decision to remove her? What criteria did you use to keep her in place?
7) Do you know how Dr. Chacko's military career ended? Did it end amicably or was she forcibly removed?
8) Are you at all concerned that Dr. Shah, her only defender at the Pittsburgh VA, has worked with her at the Brooke Army Medical Center in Texas, Lahey Clinic in Boston, the BU Medical Center in Boston, St. James Hospital in Butte, Mt. and the Pittsburgh VA? I believe their relationship is untoward. Did you examine this relationship at all before you decided to keep both of them in place?
9) Has Dr. Chacko approached you about having her company Moly99Montana being the supplier of technetium for the VA system? Given that she is an employee of the Pittsburgh VA would this be an appropriate relationship to have?
10) If I am right, and Dr. Chacko is a Psychopath, a person with no conscience, and you subverted the authority of the Pittsburgh VA and kept her in place, how can you justify continuing to head of the VA? If after a full investigation I am proven correct, would you agree to step down?
Congressman Brad Miller
1) In your letter to General Shinseki you called your action in writing the letter "unusual". Under what authority do you believe you can weigh in on the hiring and firing decisions of the Pittsburgh VA?
2) How does helping Dr. Chacko, a radiologist in the Pittsburgh VA, help the constituents of the 13th District of North Carolina? What do you tell a citizen of Raleigh, North Carolina if they ask you why you stepped in and weighed into a hiring decision at the Pittsburgh VA?
3) I used Google for five minutes and I discovered that Dr. Chacko was involved in four lawsuits in Butte, spent fourteen months there, and left with her entire team. How much research did you do about Dr. Chacko before concluding that it was "unfounded" that Dr. Chacko's leadership was affecting performance at the Pittsburgh VA?
4) Are you following my stories? Are you at all concerned that you stuck up for someone that should have been fired? Are you doing anything now to rectify the situation? Are you doing anything? Do you feel any responsibility for the nightmare of all those that testified against Dr. Chacko?
5)Did you speak to anyone at the Pittsburgh VA before deciding to write that letter? A source tells me that they called your office anonymously and spent a long time on the phone with an aide of yours and told them in detail about Dr. Chacko's disruptive behavior. Is this accurate? Your letter appeared one sided. Did you try and get the other side before writing the letter?
6) Are you aware of Kristi George's civil suit against Dr. Chacko? Ms. George was a former colleague of Dr. Chacko at St. James Hospital. She alleges that Dr. Chacko lied about her in an attempt to get her fired. That suit was wrapping up when you wrote the letter. Did you attempt to reach out to Ms. George before writing the letter? You assert that claims that department's performance had "begun to suffer under Chacko's leadership" were unfounded? Wouldn't Ms. George's claims along with the complaints of some in the Pittsburgh VA create a pattern of behavior of a doctor who's leadership is in doubt?
7) You also assert in your letter that there were issues of fairness in the removal of Dr. Chacko. My sources say the same thing but in fact that's procedural. Isn't the proper course to then convene another board and present evidence again in a fair way and not to simply give Dr. Chacko her job back? In other words, the problem wasn't the evidence against Dr. Chacko but rather the way in which it was presented. Wouldn't the right course be to allow the Pittsburgh VA to present the evidence again and consider her removal? My sources tell me the Pittsburgh VA was prepared to do this when word came down from Shinseki's office to keep Dr. Chacko in place.
8) You headed an investigation about a destroyed strand of legionella from the same Pittsburgh VA. You found several of the administration, Dr. Mona Melham, Dr. Jain included, at fault. Most are still with the VA. If in fact I am right and Dr. Chacko is a Psychopath, can't you now see that she would know this and use it to her advantage to "play you"? In other words, isn't it possible that Dr. Chacko seeked you out knowing that if she told you that the same doctors that you found at fault were targeting her that you would be sympathetic to such a story? Doesn't it give you pause that it's possible that you allowed a Psychopath to play you? If that's not accurate, how did it come about that you stepped into this situation?
9) If after a full investigation I am proven correct and Dr. Chacko is a Psychopath and you subverted the system to keep her in her place, is it really appropriate for you to still remain a public servant?
Epilogue:
Here's the definitive dossier on Dr. Chacko.
Some Sensible Steps to Confront the Inner City Culture of Violence
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click here to view the post.
Iran Talks According to Plan
Iran met with the Security Council plus Germany and to no one's surprise the seven countries agreed to speak again.
The U.S. didn't push for sanctions. As I reported earlier, the administration wouldn't have even pushed for sanctions even if Iran refused to allow the IAEA to visit the recently discovered nuclear site.
Major Garrett just reported that the administration wants to establish a diplomatic "framework". Then, according the Garrett, the administration can keep sanctions in their "back pocket". Sanctions haven't been defined and both Russia and China wouldn't be on board with sanctions now. Many, like me, would argue that they would never be on board with sanctions. At this point, if they haven't been convinced that Iran is up to no good nothing is going to convince them.
So, we are at the beginning of another dance. The parties have agreed to meet again. According to one diplomat, that meeting will happen sometime before the end of October. In the meantime, all sides will present an outline of issues up for discussion at the next meeting.
What none of the diplomats talked about is the running clock until Iran gets a nuclear bomb. It's entirely unclear how that clock compares to the diplomatic clock the world is currently on with diplomatic negotiations. We can only hope the diplomatic clock is ticking more quickly than the nuclear clock, however all evidence is that it is reversed.
Iran and six world powers will meet again after their present talks on Tehran's nuclear program and other issues end, the European Union's foreign policy chief, Javier Solana, said Thursday .
The announcement came in the closing minutes of Thursday's talks during which the big-powers attempted to persuade Tehran to freeze a program that could create nuclear weapons.
A decision to meet again is significant. The last such seven-nation talks before Thursday's gathering occurred more than a year ago and ended in failure.
The U.S. didn't push for sanctions. As I reported earlier, the administration wouldn't have even pushed for sanctions even if Iran refused to allow the IAEA to visit the recently discovered nuclear site.
Major Garrett just reported that the administration wants to establish a diplomatic "framework". Then, according the Garrett, the administration can keep sanctions in their "back pocket". Sanctions haven't been defined and both Russia and China wouldn't be on board with sanctions now. Many, like me, would argue that they would never be on board with sanctions. At this point, if they haven't been convinced that Iran is up to no good nothing is going to convince them.
So, we are at the beginning of another dance. The parties have agreed to meet again. According to one diplomat, that meeting will happen sometime before the end of October. In the meantime, all sides will present an outline of issues up for discussion at the next meeting.
What none of the diplomats talked about is the running clock until Iran gets a nuclear bomb. It's entirely unclear how that clock compares to the diplomatic clock the world is currently on with diplomatic negotiations. We can only hope the diplomatic clock is ticking more quickly than the nuclear clock, however all evidence is that it is reversed.
The Low Expectations of the Iran Talks
It was only a week ago that President Obama stood with President Sarkozy and Prime Minister Brown as each of the three in very sober terms first detailed the discovery of a secret nuclear site and then called this a "moment of truth" for Iran. A week later the Security Council plus Germany is currently meeting with Iran. Iran has stated that these talks won't include their nuclear program. The U.S. promises to confront Iran on the program anyway. Even the most promising prognostication for these talks believe that they will lead to more talks. The Obama administration itself says that even if Iran doesn't immediately halt their nuclear ambitions that won't immediately lead to sanctions. In fact, even if Iran doesn't allow the IAEA to visit its newly discovered site, the administration won't immediately seek sanctions. Instead, the administration wants to give Iran until the end of the year until they try and impose sanctions. Frankly, their hands would be tied anyway. Russia has said that sanctions would currently be unhelpful, and China has indicated much the same. Without them, there are no UN sactions. There are of course other ways to impose sanctions but there hasn't been a president nearly creative enough for such things in decades.
So, instead, the sides met. There was a breakthrough. The multi party talks lead directly to direct U.S./Iran talks.
The outcome of this meeting is not yet known, but no one is expecting much. If you didn't know that the substance of all of this was a ruthless nation on the brink of a nuclear weapon, you might think that the two sides are talking about a merger or labor and management are discussing a new contract. The kind of expectations and language we have from these meetings is fitting the negotiation of a potential merger or labor contract more than it is a ruthless country on the brink of a nuclear weapon.
In reality, if these lead diplomats to say that progress has been made and both sides have agreed to meet again, that is a huge victory for Iran. Iran has a limited amount of time, three months, six months, a year, and likely no more. At that point, they will have a nuclear weapon. Having talks go on in which the only tangible progress is more talks is perfect from their side. Iran is simply looking to run out the clock until a weapon is created. These talks are perfect. Iran would love to meet with the entire Security Council and then meet with each country separately. They only need to do that two or three times and their nuclear weapon will be created.
These talks are a farce. All talks with Iran are a farce. The leaders of Iran believe it is their religious duty to destroy the Jews. A nuclear weapon is the best way to do that. The only way they'll give up their weapons is if they have to. If their economy is halted and their citizens are on the brink of revolt, they may give them up. They aren't going to give them up because our diplomats make a strong case for giving them up. We are dealing with religious extremists that believe it is their holy duty to destroy Israel. The West simply refuses to acknowledge their religious and philosophical beliefs. Those aren't going to be reversed by talking. It will only be stopped by all out war or diplomatic pressure so strong that it leads to an internal revolt. That's it. The sooner we realize the better.
So, instead, the sides met. There was a breakthrough. The multi party talks lead directly to direct U.S./Iran talks.
The U.S. and Iran had significant talks on Tehran's nuclear program in a rare one-on-one meeting Thursday.
William Burns, U.S. undersecretary of state, and Saeed Jalili, Iran's top nuclear negotiator, held the bilateral discussion in a sign of President Obama's commitment to engage the Islamic Republicn directly on nuclear and other issues, a sharp break with the previous Bush administration.
Diplomats and officials disclosed no details of the meeting but said ahead of the Geneva negotiations that such an encounter was possible, if Burns decided it would move along U.S. objectives.
The outcome of this meeting is not yet known, but no one is expecting much. If you didn't know that the substance of all of this was a ruthless nation on the brink of a nuclear weapon, you might think that the two sides are talking about a merger or labor and management are discussing a new contract. The kind of expectations and language we have from these meetings is fitting the negotiation of a potential merger or labor contract more than it is a ruthless country on the brink of a nuclear weapon.
In reality, if these lead diplomats to say that progress has been made and both sides have agreed to meet again, that is a huge victory for Iran. Iran has a limited amount of time, three months, six months, a year, and likely no more. At that point, they will have a nuclear weapon. Having talks go on in which the only tangible progress is more talks is perfect from their side. Iran is simply looking to run out the clock until a weapon is created. These talks are perfect. Iran would love to meet with the entire Security Council and then meet with each country separately. They only need to do that two or three times and their nuclear weapon will be created.
These talks are a farce. All talks with Iran are a farce. The leaders of Iran believe it is their religious duty to destroy the Jews. A nuclear weapon is the best way to do that. The only way they'll give up their weapons is if they have to. If their economy is halted and their citizens are on the brink of revolt, they may give them up. They aren't going to give them up because our diplomats make a strong case for giving them up. We are dealing with religious extremists that believe it is their holy duty to destroy Israel. The West simply refuses to acknowledge their religious and philosophical beliefs. Those aren't going to be reversed by talking. It will only be stopped by all out war or diplomatic pressure so strong that it leads to an internal revolt. That's it. The sooner we realize the better.
Morning Market Report
There's several pieces of news from the jobs' front. First, here's the bad news. The weekly first time jobless claims unexpectedly rose to 551,000 from 534,000 the week prior. That number had been trending down for the previous three weeks. The four week average is still the lowest since January. Meanwhile, a separate report shows a drop in planned layoffs in September. That number dropped to 66,404 from 76,456 in August. The monthly jobs report comes out tomorrow morning at 8:30 AM ET. The consensus number is a loss of about 225,000 jobs for the month of September.
All major domestic indices were down yesterday. The Dow lost .31%, the S&P 500 lost .33%, and the NASDAQ lost .08%. Futures are showing more slight weakness. All three indices look to open down but currently less than a quarter of a percent each. Bonds continue to show more strength. The ten year U.S. Treasury bond is now at a new five month low. It's currently trading at 3.27%. That's the lowest it's been since May. The spread between the two and ten year has widened a bit. That's now at 3.36% as the two year showed significant strength yesterday.
Market indices around the world were down universally. Markets are closed in China for their founding. Meanwhile, the NIKKEI in Japan was down 1.53%, the Straits Time Index in Singapore was down .57%. All indices in the Far East joined the NIKKEI and the STI down. In Europe, the news wasn't much better. The FTSE in London was down .4%, the DAX in Germany was down .18% and the Spanish index was down .64%. The Italian index was up .01% and was the only major index in either Europe or the Far East to finish up.
The Dollar is trading in a relatively mild range against the world's major indices. It's up .51% against the Euro, down .04% against the British Pound, and down .12% against the Japanese Yen.
All major domestic indices were down yesterday. The Dow lost .31%, the S&P 500 lost .33%, and the NASDAQ lost .08%. Futures are showing more slight weakness. All three indices look to open down but currently less than a quarter of a percent each. Bonds continue to show more strength. The ten year U.S. Treasury bond is now at a new five month low. It's currently trading at 3.27%. That's the lowest it's been since May. The spread between the two and ten year has widened a bit. That's now at 3.36% as the two year showed significant strength yesterday.
Market indices around the world were down universally. Markets are closed in China for their founding. Meanwhile, the NIKKEI in Japan was down 1.53%, the Straits Time Index in Singapore was down .57%. All indices in the Far East joined the NIKKEI and the STI down. In Europe, the news wasn't much better. The FTSE in London was down .4%, the DAX in Germany was down .18% and the Spanish index was down .64%. The Italian index was up .01% and was the only major index in either Europe or the Far East to finish up.
The Dollar is trading in a relatively mild range against the world's major indices. It's up .51% against the Euro, down .04% against the British Pound, and down .12% against the Japanese Yen.
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