A Return to Sanity?
Your views on fake news:
“The worst era of fake news in my lifetime. I am almost 80-years of age.”
Another reader goes on to question the term…
“Think calling it fake news is wrong wording.
“In the context that most so-called news is disseminated today they should call it sloppy and lazy reporting of the content they received from someone else with an axe to grind….
“Facts are often conveniently left out or not thoroughly vetted by today’s so-called reporters.
“I’d really like to see factual reporting on an issue; then let us decide how we…want to react to the facts.
“Show all sides as well. But alas our university journalism schools today are pretty much all slanted heavily to the left.
“I’m a moderate independent who is fiscally conservative but empathetic to those who need a helping hand in life….
“Time for the majority middle to be heard and use the power of our independent vote to push one or the other party back to the center or to some level of sanity.
We appreciate your feedback.
Your Rundown for Tuesday, October 16, 2018…
“Panic in the Kingdom”
“There’s panic in the kingdom,” says David Goldwyn, the head of energy consultancy Goldwyn Global Strategies.
Saudi leaders were apparently shaken by Trump’s threat of “severe punishment” in the case of journalist Jamal Khashoggi, missing from a Saudi Arabian consulate in Turkey.
In response, the government issued a statement over the weekend: “The kingdom affirms its total rejection of any threats and attempts to undermine it, whether by threatening to impose economic sanctions, using political pressures, or repeating false accusations.”
Then the kingdom upped the ante. “If the price of oil reaching $80 angered President Trump,” says Saudi official Turki Aldakhil at Al Arabiya, “no one should rule out the price jumping to $100, or $200, or even double that figure.”
U.S. Secretary of State Mike Pompeo was dispatched to the kingdom post-haste to meet with King Salman — not Crown Prince MbS.
Pompeo will likely remind Saudi Arabia they can’t put the same chokehold on the oil supply as they did during the oil embargo of 1973-74. The U.S. is less dependent on OPEC oil.
But Pompeo will need to walk a fine line.
Trump wants to finalize the $110-billion arms deal he negotiated last year. And the administration needs to keep Saudi Arabia in step with its anti-Iran agenda, including U.S. sanctions on Iranian oil scheduled to go into effect in early November.
The Secretary of State’s mission — ultimately — is more about Saudi Arabia saving face rather than saving a strategic partnership.
Market Rundown for Tues. October 16, 2018
S&P 500 futures are up about 25 points to 2,776.38.
The price of oil’s not moving despite Saudi threats; a barrel’s selling for $71.73.
Gold is up $4.10 to $1,234.40.
Bitcoin lost about $11 to $6,601.46.
Have a great day. We’ll talk tomorrow.
For the Rundown,