Lawrence Summers withdraws from consideration for Fed Chairman

Posted: September 15, 2013 in Uncategorized
Tags: , , , ,

Summers, one of the candidates as new Fed Chairman for January, has retired from the nomination panel.

This is a positive for the market as he has been seen a disruptive character and enemy of Quantitative Easing.

This also signal the weakness of President Obama after the Syrian failure and put him in an awkward position in the incoming US Debt Ceiling debate.

Syria and Russia scored a great victory against the US.

Syria has hailed as a victory (as it is – tehre is not even an agreement on the consequences in case of infringement) and Secret Service confirms that the special unit 450 has already started dispersing the chemical weapons in secure facilities also in Lebanon and Iraq.

Russia stands to gain a major influence in the ex Soviet States and achieved a psychological win both for Russia as alternative Superpower (which is not) and also distract the attention from the current Russian economic woes.

Unfortunately President Obama in this round reminded me of President Carter….and then came President Reagan. Let’s hope.

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