Jim Lobe: There are serious strategic differences between US and Israel, but they share the aim of weakening Iran as a regional power.
The always excellent Max Blumenthal notes that Netanyahu wants GOP to win but he already has Obama in a corner on Iran.
Gareth Porter on the developing crisis in the Persian Gulf, the assassination of an Iranian scientist by Mossad, and the belated pushback by the US.
Further evidence of the vacuity of the ‘war for oil’ argument. Much of the price for oil is today determined in the derivatives market by Wall Street speculators rather than by producers or suppliers. The underlying commodity usually has a minimum impact on the actual price. But the Commodity Futures Trading Commission will not investigate this for the same reason why it was prevented from investigating the banks. Because Wall Street owns the executive branch. (Don’t miss the excellent Inside Job and this post by Pat Lang).
Kevin Hall: The Saudis have been saying for years something should be done to curb the influence of banks that are speculating on the price of oil.
Gerald Epstein: Real message of S&P downgrade of US debt outlook is threat of another meltdown of finance sector.
Meanwhile, Goldman Sachs, the investment giant that brought you the financial crisis and world food crisis, is lobbying to weaken the Volcker rule, which is designed to limit banks from speculating with their own money.
Gareth Porter: Domestic politics dictated decision to assassinate bin Laden, not national security. Also, in the National Journal, Tim Fernholz and Jim Tankersley estimate that the pursuit of Bin Laden cost the US $3 trillion over the past 15 years.
Robert Skidelsky and Paul Jay discuss Keynes, the IMF, concentration of ownership, political power and rebellion.