Global

by Tyler Durden
Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what is perhaps the biggest reason for the recent "anti-establishment" revulsion: an unprecedented concentration of wealth among a handful of people, as shown in its infamous global wealth pyramid, an arrangement which as observed by the "shocking" political backlash of the past few months suggests that the lower 'levels' of the pyramid are increasingly unhappy about.

 In 1914, Austria-Hungary launched what it thought would be a short punitive war against Serbia. The next thing it knew, it was involved in a war against Russia, Italy, France, Britain, and then the United States. Four years later, Austria-Hungary ceased to exist. If the Austro-Hungarian government had known where its Balkan intervention would lead, it would never have launched it. But it didn’t know. World War I was an inadvertent war.

BY MARCUS WEISGERBER, CAROLINE HOUCK

Most of the $278 billion in approved sales have gone to Saudi Arabia and other Mideast allies.

The Obama administration has approved more than $278 billion in foreign arms sales in its eight years, more than double the total of the previous administration, according to figures released by the Pentagon on Tuesday.