From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
Latest News From April 21, 2017 to April 27, 2017:
- Democrats: Trump Must Surrender On Funding For A Border Wall To Avoid A Government Shutdown On His 100th Day In Office
Is Donald Trump going to unconditionally surrender to the Democrats and completely give up his dream of building a border wall in order to avoid a government shutdown on his 100th day in office? As I have warned before, the Democrats are perfectly willing to force a government shutdown if the Trump administration and the Republicans in Congress do not let them win all of the key battles in this funding bill fight. It is being reported that the Trump administration wants 3 billion dollars for extra border security and for construction of a border wall, and the Democrats are insisting that they will keep any bill that includes money for a border wall from ever getting through Congress. And of course the Democrats are also taking a very hard line on funding for Planned Parenthood, federal support for key Obamacare provisions, and resistance to increased defense spending. If the Trump administration and enough establishment Republicans in Congress cave in to the outrageous demands of the Democrats, a government shutdown will be avoided. If not, a government shutdown will begin on April 29th (Trump’s 100th day in office), and it could easily turn out to be the longest government shutdown in the history of the United States.
- G. Edward Griffin: Exposing The Creature From Jekyll Island
G. Edward Griffin, the author of the seminal book on the formation of the Federal Reserve, The Creature of Jekyll Island, joins the podcast this week to add his perspective to our ongoing critical examination of the Fed and the impact its actions are having on society. Meeting Ed and getting to spend time with him was a real honor for Chris and me. His breadth of knowledge of the central banking system as well as his engaging manner of storytelling are masterful. Plus, he's simply a wonderfully kind person. Ed's decades of research and critique of the Federal Reserve, sadly, have left him with conclusions that corroborate our own. Despite its carefully-crafted image as an essential public servant, Griffin concludes it is anything but. It is a private cartel that has connived its way to tremendous advantage and power, secretly (and not-so-secretly) plundering the American people of their treasure and freedoms.
- Silver, Platinum and Palladium as Investments – Research Shows Diversification Benefits
The review surveys and covers the findings on a wide variety of topics in relation to the White Precious Metals including Market Efficiency, Forecast-ability, Behavioral Findings, Diversification Benefits, Volatility Drivers, Macroeconomic Determinants, and their relationships with other assets. For those asking whether or not they should invest in precious metals or to increase their allocation, it can be of use to read some academic research into the role the white metals can play in hedging risk in their investment and pension portfolios. There are many strongly held opinions regarding gold and silver and precious metals and some mathematical and economic analysis can go a long way in helping us to understand how and why we should consider investing in these less popular precious metals.
- I’m in Awe of How Fast Brick-and-Mortar Retail is Melting Down
As so many times, Private Equity firms are in the thick of it. Mall traffic is sagging. Department store sales have been in decline since 2001. Most retailers are loaded up with debt. Many have been losing money. Now they’re running out of options. Store closings numbered in the thousands last year. This year they promise to get much worse. “Zombie malls” have become reality, their vast parking lots rented to car dealers to store their excess vehicle inventory. But ecommerce sales are booming, including online sales by some brick-and-mortar retailers, such as Walmart and Macy’s.
- Trump To “Bully” Fed Into Printing Money – Negative for Stocks, Positive for Gold
David McWilliams has written an interesting article in which he puts forward the case that Trump is likely to turn on the “enemy within,” the Federal Reserve and bully them into “printing money.” He points out that this was seen in 1971 when Nixon bullied the Fed into printing and debasing the dollar. McWilliams says this would be bad for stocks markets which would fall in value as was seen in the 1970s. This would be positive for gold as the printing of dollars, rising inflation and stagflation saw gold surge in the 1970s when it rose from $35 per ounce in 1971 to over $850 per ounce in January 1980 (see chart). Along the way there was a significant correction when gold prices fell by nearly 50% – very much akin to gold’s price falls from 2013 to 2015.
- Ron Paul Rages At Trump: “Assange Is A Hero… Don't Declare War On The Truth”
“I love Wikileaks,” candidate Donald Trump said on October 10th on the campaign trail. He praised the organization for reporting on the darker side of the Hillary Clinton campaign. It was information likely leaked by a whistleblower from within the Clinton campaign to Wikileaks. Back then he praised Wikileaks for promoting transparency, but candidate Trump looks less like President Trump every day. The candidate praised whistleblowers and Wikileaks often on the campaign trail. In fact, candidate Trump loved Wikileaks so much he mentioned the organization more than 140 times in the final month of the campaign alone! Now, as President, it seems Trump wants Wikileaks founder Julian Assange sent to prison. Last week CNN reported, citing anonymous “intelligence community” sources, that the Trump Administration’s Justice Department was seeking the arrest of Assange and had found a way to charge the Wikileaks founder for publishing classified information without charging other media outlets such as the New York Times and Washington Post for publishing the same information.
- Trump To Order Corporate Tax Rate Cut To 15%, Loading Up To $2 Trillion In Extra Debt
Ahead of Trump's much anticipated tax announcement on Wednesday, the WSJ reports that the president has ordered his (mostly ex-Goldman) White House aides to accelerate efforts to create a tax plan “slashing the corporate rate to 15% and prioritizing cuts in tax rates over an attempt to not increase the deficit” which means that without an offsetting source of revenue, Trump is about to unleash the debt spigots, a proposal which will face fierce pushback from conservatives as it is nothing more than a continuation of the status quo under the Obama administration, and may well be DOA. The WSJ adds that during an Oval Office meeting last week, “Trump told staff he wants a massive tax cut to sell to the American people” and that it was “less important to him if the plan loses revenue.”
- If Mortgage Rates Tick Up Even a Little, What’ll Happen to Canada’s House Price Bubble?
The question now being asked, years too late: How will this end? “Homeowners and potential first time homebuyers are now even more vulnerable to a payment shock from rising mortgage rates,” the National Bank of Canada warns in its housing affordability report. Eight years of super-low interest rates in the US have succeeded in inflating home prices in many cities way past the peaks of the housing bubble that imploded during the Financial Crisis. A boom-crash-boom movement. But home prices in Canada barely dipped during the Financial Crisis and then continued soaring. So a boom-boom movement.
- Who Will Live in the Suburbs if Millennials Favor Cities?
Longtime readers know I follow the work of urbanist Richard Florida, whose recent book was the topic of Are Cities the Incubators of Decentralized Solutions?(March 14, 2017). Florida’s thesis–that urban zones are the primary incubators of technological and economic growth–is well-supported by data that shows that the large urban regions (NYC, L.A., S.F. Bay Area, Seattle, Minneapolis,etc.) generate the majority of GDP and wage gains.
- If This Is Freedom and Democracy, What Is Tyranny?
If truth be known, Americans are no more free than were Germans under Gestapo Germany. “Freedom and Democracy America” is the greatest lie in the world. Countries sink into tyranny easily. Those born today don’t know the freedom of the past and are unaware of what has been taken away. Some American blacks might think that finally after a long civil rights struggle they have gained freedom. But the civil rights that they gained have been taken away from all of us by the “war on terror.” Today black Americans are gratuitously shot down in the streets by police in ways that are worse than in Jim Crow days.
- Fear Campaign Against Americans Continues With Nuclear Drills This Week in New York
In many ways, you have to feel bad for Americans. They have been on the receiving end of constant fear propaganda for decades. Just look back to the 50’s with the “Duck & Cover” fear campaign as one example. Getting malleable young minds to cower under their desks in their government indoctrination camps, as though that would somehow protect them from a nuclear blast, shows that it has nothing to do with safety and everything to do with fear. The US government even convinced their tax slaves that there was a major war going on all the way from the 1950s to the 1980s even though not a single shot was fired. They called it the “Cold War” and warned petrified citizens that at any moment, if not for the brave US government, they could be blown to oblivion.
- The IMF Is Not Done Destroying Greece Yet
Austerity is over, proclaimed the IMF this week. And no doubt attributed that to the ‘successful’ period of ‘five years of belt tightening’ a.k.a. ‘gradual fiscal consolidation’ it has, along with its econo-religious ilk, imposed on many of the world’s people. Only, it’s not true of course. Austerity is not over. You can ask many of those same people about that. It’s certainly not true in Greece.
- Death by Government – one long-term resident’s personal evidential account of how Ecuador is likely following Venezuela over the cliff … and why Correa’s “robolucion” must be outed as the epic failure and corrupt rort it really is.
There is always something awful and tragic about watching a perfectly good ship sink. It is of course, significantly more distressing if one is on board at the time! To further imagine the captain and crew themselves … those specifically in charge of your and the ship’s well-being, were entirely responsible for the sinking … is almost inconceivable. Such is life, right now, in Ecuador, however. The purpose of this article is to document and describe the events which have transpired over the near-decade I’ve been here, as succinctly and cogently as possible, such that anyone interested will be able to understand the nature of the tragedy which has befallen Ecuador … and which has resulted in the dire conditions people are currently suffering here. Conditions which, following a very dubious recent election (which resulted in the same incompetent and corrupt party of the last decade retaining power – and which millions believe is fraudulent) … are only likely to get worse. Make no mistake, Ecuador is a bitterly divided country right now. It is in no way over-reaching, to suggest a Venezuela-style demise is now very much on the cards.
- This Vicious Cycle is What Bedevils the US Economy
Railroads slash capital spending, but plow more money into buying back own shares, after two years of Freight Recession. CSX reported quarterly earnings late Wednesday. Revenues increased 9.5% from the terrible quarter a year ago, which had been the worst quarter in terms of revenues since Q1 2010! So it’s no big feat to beat last year’s fiasco quarter. At $2.87 billion in Q1 2017, revenues are sill 5.3% lower than they’d been in Q1 2015. This time, moribund coal shipments had increased. Since March, there’s a new guy at the throttle. Hunter Harrison is known as a cost cutter. And that was the theme of the earnings announcement. The railroad said that it plans to cut costs further. It had already slashed its capital spending plans for 2017 by 18% to $2.2 billion. Now more cuts for 2017 are likely. But in the same breath, it announced that it would plow $1 billion into buying back its own shares. Stocks jumps.
- As long as Americans continue to believe…
The great foreign policy analyst and author Peter van Buren recounts the lies that have kept the American war machine going. As long as Americans continue to believe, the Empire will happily continue its lies.
- US has regressed to developing nation status, MIT economist warns
America is regressing to have the economic and political structure of a developing nation, an MIT economist has warned. Peter Temin says the world's’ largest economy has roads and bridges that look more like those in Thailand and Venezuela than those in parts of Europe. In his new book, “The Vanishing Middle Class”, reviewed by the Institute for New Economic Thinking, Mr Temin says the fracture of US society is leading the middle class to disappear.
- In New Trade Front, Trump Slaps Tariff on Canadian Lumber
The Trump administration announced on Monday that it would impose new tariffs on Canadian softwood lumber imports, escalating a longstanding conflict with America’s second-largest trading partner. The Commerce Department determined that Canada had been improperly subsidizing the sale of softwood lumber products to the United States, and after failed negotiations, Washington decided to retaliate with tariffs of 3 percent to 24 percent. The penalties will be collected retroactively on imports dating back 90 days. The decision came days after President Trump complained bitterly about Canada’s dairy trade practices, and the tariffs signaled a harsher turn in his relationship with Canada, even as he seeks to renegotiate the North American Free Trade Agreement. While he has often assailed China, Mexico and others for their trade practices, he seemed to have forged a strong relationship with Canada’s prime minister, Justin Trudeau.
- Baby Boomers Borrowed $100BN In Student Loans For Their Children And Now Defaults Are Soaring
America's snowflake millennials aren't used to being told ‘no', especially by their parents. Perhaps that's why, as we pointed out a few days ago, more millennials than ever are now living at home with mom and roughly one quarter of them don't even both to enroll in classes and/or find a job (see “A Quarter Of Millennials Living At Home Neither Work Nor Study”). But, when it comes to racking up massive student loans for their lazy, millennial, snowflakes, we suspect a healthy portion of about 3.5 million Baby Boomers are wishing they had a do-over to do just that. Unfortunately, rather than making some difficult decisions about affordability and/or forcing their kids to pay for their own education, Baby Boomers have incurred nearly $100 billion in student loans so that little Johnny and/or Susie could get that Anthro degree they always wanted. In fact, as the Wall Street Journal notes today, so-called “Parent Plus Loans” have soared over the past 15 years as parents have increasingly found it impossible to cover college tuition costs.
- Central Banks Are Now Printing $200 Billion Per Month… Without a Crisis
A tidal wave of inflation is rapidly moving through the financial system. Most investors only pay attention to the Federal Reserve. And they are missing the BIG PICTURE for Central Bank monetary policy. The Fed is tightening policy by hiking rates. But the rest of the world’s Central Banks are printing a combined $200 BILLION in QE every single month. Yes, $200 billion. At a time when the financial system is out of crisis and the Fed’s put its own “print” button on “pause.” This is an all-time record… greater even that the global money printing that occurred at the depth of the 2008 Crisis when Central banks were desperate to prop the system up. Indeed, at $200 billion per month, we’re talking about an annualized pace of over $2 TRILLION in money printing every year.
- Celente – You Won’t Believe The Incredible Desperation I Saw On My Travels In The U.S.
As the Dow managed to close out the week near the 20,550 level, today the top trends forecaster in the world spoke with King World News about the incredible desperation he saw on his travels in the United States. Eric King: “Gerald, I know you want to share about your travels across the country. What’s really going on out there right now?” Gerald Celente: “The numbers just came out on existing home sales and they rose to levels not seen since 2007. 2007? Oh yeah, right before the Panic of 2008. And when you take a trip across the country as I’ve been doing, you go into one city after another that looks like it’s been depleted of any kind of life and any kind of growth. This is not only in the ‘Rust Belt,’ but in areas where you would expect things to be quite prosperous…
- It’s All Illusions And Lies: The Supernova Debt Bubble Is About To Trigger The Death Knell Of The Global Financial System
As we get ready to kickoff what promises to be a wild week of trading, today the man who has become legendary for his predictions on QE, historic moves in currencies, told King World News it’s all “illusions and lies” and warned the supernova debt bubble is about to trigger the death knell of the global financial system. We Told Our Investors To Buy Gold At $300. Egon von Greyerz: “To ride a bull market is like climbing a wall of worry. Most of the time the market seems to be consolidating or correcting. The bull market in gold fits that picture perfectly. It started in 1999 at $250 but very few got in at the very bottom. At GoldSwitzerland we instructed our clients to put 50 percent of their net worth into physical gold in 2002 while the price of gold was still near a historic low at $300, with a very strong belief that the world economy and financial system would have unsolvable problems…
- Captains of Dollar Are Panicked
Market expert and financial writer Bill Holter says elite were in a “panic” last week to try to push down the price of gold and silver. Holter explains, “You have to understand that gold is the direct competitor versus the dollar. Other currencies in the world compete with the dollar, but the dollar is the reserve currency. It supplanted gold in 1971. Gold and the dollar are direct competitors or arch enemies, or whatever you want to call them. The best way to make the dollar look good is to make gold look bad. That’s what the purpose of all these naked sales or contracts are to suppress the price (of gold and silver). That’s the purpose of it. . . . Tuesday, Wednesday and Thursday were three big sales back to back to back, which shows the captains of the dollar are panicking. The dollar definitely looks like its rolling over and has been taking some fairly sizable drops intraday.”
- The Real Reason For America’s Looming Retirement Crisis
Did you know that approximately 40 percent of all American workers have absolutely nothing saved for retirement? And did you know that pension funds in the United States are currently underfunded by about six trillion dollars? Social Security is supposed to be the underlying safety net for our entire retirement system, but it is essentially just a massive Ponzi scheme that everyone agrees is heading for a major disaster. Now that the Baby Boomers have started to retire, it is becoming clear that our society simply does not have the resources necessary to keep all of the promises that we have made to them. We are facing a retirement crisis of epic proportions, and by the end of this article you will understand the real reason why we have gotten into this mess.
- Why Are So Many Millennials Living With Their Parents Instead Of Getting Married And Starting Their Own Families?
Did you know that the percentage of 18 to 34-year-old Americans that are married and living with a spouse has dropped by more than half since 1975? Back then, 57 percent of everyone in that age group “lived with a spouse”, but today that number has dropped to just 27 percent. These numbers come from “the Changing Economics and Demographics of Young Adulthood” report that was just released by the U.S. Census Bureau. Some are postulating that the reason for this dramatic cultural shift is a phenomenon known as “extended adolescence”, while others fear that large numbers of young men and/or young women are giving up on the concept of marriage altogether. Instead of getting married and starting their own households, many young adults are deciding that living with Mom and Dad is the best approach. In fact, this new Census Bureau report found that one out of every three 18 to 34-year-old Americans is currently living with their parents…
- Will You Turn Away Family, Friends And Neighbors At Your Door When America’s Day Of Disaster Arrives?
How will you handle all of the people that will show up at your door when a major crisis strikes because they haven’t been making any preparations of their own? Earlier today somebody asked me about this on Facebook, and I thought that it was a very good question, because thousands of my readers will be faced with this precise dilemma at some point. When America’s day of disaster arrives, it is inevitable that most of us that are prepping will have family, friends and neighbors showing up at our door asking for help. When that happens, what will you do? There are some people out there that are very honest about the fact that they do not plan to share what they have stored up with anyone, and that even close family members will be greeted with a shotgun if they show up unannounced.
- Major Prophetic Warnings: ‘Socially Accepted But Immoral Lifestyles’ In The Church Will Be Exposed And ‘Judgment Starts Now’
Judgment begins in the House of God, and those that are playing around with sin need to stop before it is too late. In recent weeks, I have been writing much about the prophetic voices that have been warning about the “exposure” and the “great shaking” that are coming to the Church. If you choose to put yourself out there as a minister of the gospel of Jesus Christ, you can’t embrace great sin and expect that there won’t be any consequences. Our God is a holy and awesome God, and the only way that any of us are going to make it through what is coming is to live in holiness. The Scriptures tell us that the fear of God is the beginning of wisdom, and there isn’t a lot of the fear of God in our churches today, but there will be soon.
- North Korea Threat Turns Hot, FBI & CIA Look for Traitor, Economic Update
North Korea made the most provocative and dangerous threat yet through the state media when it said Kim Jong-Un may order a “super-mighty preemptive strike” against South Korea and the U.S. The U.S. says it is sending an armada to deal with the provocation. China and Russia, which both border North Korea, reportedly have deployed troops there. The threat is the worst ever for the Korean Peninsula as the North now has nuclear weapons that it did not have in the Korean War in the early 1950’s.
- 11 Facts That Prove That The U.S. Economy In 2017 Is In Far Worse Shape Than It Was In 2016
There is much debate about where the U.S. economy is ultimately heading, but what everybody should be able to agree on is that economic conditions are significantly worse this year than they were last year. It is being projected that U.S. economic growth for the first quarter will be close to zero, thousands of retail stores are closing, factory output is falling, and restaurants and automakers have both fallen on very hard times. As economic activity has slowed down, commercial and consumer bankruptcies are both rising at rates that we have not seen since the last financial crisis. Everywhere you look there are echoes of 2008, and yet most people still seem to be in denial about what is happening. The following are 11 facts that prove that the U.S. economy in 2017 is in far worse shape than it was in 2016…
- Going cashless to fight rising financial crime
Bribery, tax evasion, money laundering, counterfeiting, corruption, even the finance of terrorism. These are among a long list of crimes enabled by the use of “cash.” The attempt to crack down on these crimes is driving governments and a range of companies to pursue the potential of a cashless society. “Cash plays a big role in crime. I think there's a reason cash is king,” says Harvard economist Kenneth Rogoff, who has written extensively on the costs and benefits of phasing out paper currency. “Even though we have bitcoin, gold coins, uncut diamonds … you still find cash playing a major role [in crime], because it's basically government-licensed, anonymous currency. It has very high liquidity, low transaction costs. You can spend cash anywhere. All these other things, like you take gold coins to someone and they're actually a lot of trouble to verify.”
- Deutsche Bank: “It Was Good While It Lasted”
It all started in February, when we first reported that something unexpected had happened: for reasons that were at the time unknown, the global credit impulse had unexpectedly tumbled, turning negative, a move which we predicted would result in a steep slide in the “soft” economic data, end the “reflation” optimism and unleash a wave of dovishness from the Fed. Then, two months later when the reflation trade was officially over, in early April the culprit for this sudden collapse in global growth momentum was identified: China, which together with the price of oil, had been the only catalyst for the global reflation trade since the “Shanghai Accord” in February 2016, and had seen its credit impulse crash at the fastest pace since the financial crisis, dropping to a level not seen since 2010.
- Clothing retailer Bebe to close all stores by end of May
California-based women's apparel retailer Bebe announced plans to close all of its stores by the end of May. Bebe said it anticipates the closure of “all of the stores by the end of May,” according to a filing with the Securities and Exchange Commission. The retailer had already begun to reduce its number of stores, reporting it still had 134 Bebe stores in 31 states, Puerto Rico and Canada as well as 34 outlet stores.
- Its not different this time
The Fed will continue to raise interest rates—we cannot continue like this—negative interest rates in most parts of the world are destroying a lot of people. Many pension plans, insurance companies and trusts are suffering badly now—you are going to have some pension plans in America go bankrupt, or not earn any money. They have the obligations to meet their promises as people continue to get older. When interest rates go higher, they are going to make bonds go lower—it is going to help the US dollar. Historically, in the US, if the Fed raised interest rates four times, it meant the stock market would go down and go down substantially for a while—it is clear that the Fed will raise interest rates four times, and it does not mean that it has to happen that way.
- “The Retail Bubble Has Now Burst”: A Record 8,640 Stores Are Closing In 2017
The devastation in the US retail sector is accelerating in 2017, and in addition to the surging number of brick and mortar retail bankruptcies, it is perhaps nowhere more obvious than in the soaring number of store closures. While the shuttering of retail stores has been a frequent topic on this website, most recently in the context of the next “big short”, namely the ongoing deterioration in the mall REITs and associated Commercial Mortgage-Backed Securities and CDS, here is a stunning fact from Credit Suisse:”Barely a quarter into 2017, year-to-date retail store closings have already surpassed those of 2008.”
- Is World War The Twisted Cure For a Doomed Economy? “Signals for War Are Fiscal”
The march to war is deafening. But the reasons for it go beyond the elements of military conflict and political intrigue. Underlying it all, the reasons are economic. With a nothing-doing economy that has long dragged on the American soul, there is a growing temptation to wipe the slate clean, and launch a wider war – all with the wider aim of igniting a new economic engine. Theoretically, the economy would spruce up on the same gin that fueled WWII – and not only delivered a victory, but solidified America a prosperous superpower while vanquishing the Great Depression. The thought is twisted, and perhaps more and more likely everyday. Something like economic gains off of spilling blood – true military industrial complex stuff.
- The Banking Industry Treats Its Customers Worse Than United Airlines
Last week the Internet was ablaze with disgust after a man was physically dragged off a United Airlines flight. What’s amazing, though, is that there are countless cases of another industry abusing its customers in far, far worse ways than the airlines. I’m talking, of course, about the banking industry. 1. Banks treat you like criminal suspects too. 2. Banks nickel and dime you even more. 3. Overbooking? Try fractional reserve banking. 4. Banks are in bed with the government too. 5. Yet they brazenly screw their own customers.
- Factory Output Tumbles In March – This Has Never Happened Outside Of Recession
US Industrial Production peaked in November 2014 and remains down almost 2% from those record highs (despite surging stocks). This has never happened without the US economy being in recession in history. While Industrial production headlines met expectations, factory output for March plunged 0.4% – the biggest drop since Feb 2015. Still who needs ‘production' when we have Snapchat and Netflix!??
- Meet The Robots That Will Build Your Next House
The U.S. residential construction industry employs 100's of thousands of people each year in various skilled trades that earn hourly pay rates ranging from minimum wage to $100 per hour, or more. Per BLS statistics, the residential housing space employed over 1 million people at the height of the housing bubble and now accounts for nearly 750,000 jobs. Of course, just like the auto industry, many of those jobs can be done at a fraction of the cost and with much greater precision by industrial robots. Moreover, those robots work inside a warehouse where they're immune from the negative consequences of weather and can work 365 days per year without compromising construction integrity.
- MIT Scientist FURTHER Debunks False Flag: “The Nerve Agent Attack that Did Not Occur”
This analysis contains a detailed description of the times and locations of critical events in the alleged nerve agent attack of April 4, 2017 in Khan Shaykhun, Syria – assuming that the White House Intelligence Report (WHR) issued on April 11, 2017 correctly identified the alleged sarin release site. Analysis using weather data from the time of the attack shows that a small hamlet about 300 m to the east southeast of the crater could be the only location affected by the alleged nerve agent release. The hamlet is separated from the alleged release site (a crater) by an open field. The winds at the time of the release would have initially taken the sarin across the open field. Beyond the hamlet there is a substantial amount of open space and the sarin cloud would have had to travel long additional distance for it to have dissipated before reaching any other population center.
- Another Flip? Trump Tells Congress Iran Compliant With “Disastrous” Nuclear Deal
On the heels of an apparant avalanche of flip-flops on campaign comments, President Trump has notified Congress that Iran is complying with the “disastrous… worst deal ever negotiated” 2015 nuclear deal negotiated by former President Obama. During his campaign, Trump raised the prospect the United States will pull out of the nuclear pact it signed last year with Iran, alienating Washington from its allies and potentially freeing Iran to act on its ambitions.
- Russia Takes $30 Million In Venezuela Oil Hostage Over Unpaid Debt
Despite having made its bond payment due last week, Venezuela’s state oil company, PDVSA, remains in fire financial straits, with virtually no funds or liquidity, and regardless of the close Russia-Venezuela ties, a Russian state-run shipping company has taken a tanker of PDVSA crude “hostage” in the Caribbean over $30 million worth of unpaid shipping fees. Russia’s shipper Sovcomflot sued PDVSA in the Dutch island St. Maarten in the Caribbean and “imposed garnishment on the aforementioned oil cargo,” Reuters reported on Tuesday, citing a St. Maarten court decision. PDVSA had sent the oil cargo to the Caribbean in October last year, hoping it could net around $20 million from the sale of the crude, but Sovcomflot claims the cash-strapped state-run Venezuelan company owes $30 million in unpaid shipping fees.
- Trump To Crack Down On Visa “Abuse” In “Hire American” Executive Order
President Trump will sign an executive order on Tuesday that aims to overhaul the H1-B visa program used by tech companies to bring high-skilled workers to the U.S., directing a government-wide review aimed at putting new teeth back into decades-old “Buy American” and “Hire American” directives. As The Hill reports, Trump will travel to a manufacturing plant in Kenosha, Wis., to sign the order, which the administration says will make it more difficult for U.S. companies to look overseas for workers to fill middle-income jobs.
- Free Money! Is The Fed Paying Banks $22 Billion To Not Lend?
Excess reserves of depository institutions peaked at $2.7 trillion in August of 2014. By December of 2016, excess reserves fell to $1.9 trillion but have since climbed back to $2.2 trillion. On October 3, 2008, Section 128 of the Emergency Economic Stabilization Act of 2008 allowed the Federal Reserve banks to begin paying interest on excess reserve balances (“IOER”) as well as required reserves. The Federal Reserve banks began doing so three days later. As interest rates have risen, so has the free money to banks.
- Harvard ‘Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaurant Failures
A ‘shocking' discovery was made when a pair of researchers at Harvard Business School decided to analyze the impact of higher minimum wages in San Francisco on restaurant failures…hint: they went up. Entitled “Survival of the Fittest: The Impact of the Minimum Wage on Firm Exit”, this latest study on the devastating consequences of minimum wage was conducted by Dara Lee Luca and Michael Luca and concluded that each $1 increase in the minimum wage results in a roughly 4-10% increase in the likelihood of a restaurant going out of business.
- Honeymoon from Hell: The Liberal Media vs. President Trump
As President Trump approaches the end of his first 100 days in office, he has received by far the most hostile press treatment of any incoming American president, with the broadcast networks punishing him with coverage that has been 89% negative. The networks largely ignored important national priorities such as jobs and the fight against ISIS, in favor of a news agenda that has been dominated by anti-Trump controversies and which closely matches what would be expected from an opposition party. For example, President Trump’s push to invigorate the economy and bring back American jobs received a mere 18 minutes of coverage (less than one percent of all airtime devoted to the administration), while his moves to renegotiate various international trade deals resulted in less than 10 minutes of TV news airtime.
- Death by overwork: Japan's 100-hour overtime cap sparks anger
Workaholic Japan has unveiled its first-ever plan to limit overtime, but critics want to give it the boot, saying an “outrageous” 100-hour-a-month cap will do nothing to tackle karoshi, or death from overwork. Tokyo's bid to ease a national health crisis comes after the top executive at advertising giant Dentsu quit late last year in response to the suicide of a young employee who regularly logged more than 100 hours of overtime a month. The death of Matsuri Takahashi generated nationwide headlines, prompting the government to come up with a solution to punishing work hours blamed for hundreds of deaths due to strokes, heart attacks and suicides every year.
- Is The Deep State Creating Another “Crash Of 1929”?
In his speech above, future Federal Reserve Chairman Ben Bernanke acknowledged that, by raising interest rates, the Fed triggered the stock market crash of 1929, which heralded in the Great Depression. Yet, in her speech above, Fed Chair Janet Yellen announced that “it makes sense” for the Fed to raise interest rates “a few times a year.” This is a concern, as economic conditions are similar to those in 1929, and a rise in interest rates may have the same effect as it did then. So let’s back up a bit and have a look at what happened in 1929. In the run-up to the 1929 crash, the Federal Reserve raised rates to 6%, ostensibly to “limit speculation in securities markets.” As history shows, this sent economic activity south rather quickly. Countless investors, large and small, who had bought stocks on margin, would be unable to pay increased interest rates and would be forced to default. (It’s important to understand that the actual default was not necessary to crash markets. The knowledge that investors would be in trouble was sufficient to send the markets into a tailspin.)
- Steve Keen: “Can We Avoid Another Financial Crisis?” (Spoiler Alert: No!)
Economic theory is like a layer cake: Explanations within one layer make sense, but once you move to another layer, they no longer apply. Economist Steve Keen‘s new book “Can We Avoid Another Financial Crisis?” is an illustrative example. The good news is that Keen accurately describes the current economic system; the bad news is that the answer to the question in the title is “no.” (And, despite what I believe is his accurate overall assessment, he misses, or skips over, a few key, hidden elements of economic theory.) Keen defines his question within the layer of a corrupt banking system, the system we have now. He explains how it is that banks create money in the form of debt, and how this leads to financial instability.
- Looks Like John McCain Is Happy With Trump's Foreign Policy
President Trump and Senator John McCain started off with a rocky relationship. But now that the President has suddenly come around in all the wrong ways, the notoriously war hungry Senator is pleased. McCain was recently on Meet The Press with Chuck Todd, and he joyfully expressed his approval of the Washington establishment sucking Trump in. Isn't it funny how things work in Washington? One week Trump accuses John McCain of “always looking to start World War III,” and the next week McCain is praising Trump for doing that very thing!
- “Out Of Cash” – More Than 90% Of India ATMs Run Dry
Five months have passed since the demonetisation drive, but the people of India continue to face a shortage of cash in banks and ATMs. The Times of India reports that more than 90% of the ATMs in the northern region do not have cash, and in the southern states as many as 65% of ATMs have run dry. Speaking to TOI, State Bank of India (SBI) deputy general manager Ajoy Kumar Pandit said the customers are losing confidence in them due to the crisis. “Nearly 70 per cent of our 648 ATMs in the three districts are out of cash. The rest will also become dry in the next few days as we do not have cash to refill the machines. We are helpless from our side,” he said.
- The Last Country We “Liberated” from an “Evil” Dictator Is Now Openly Trading Slaves
It is widely known that the U.S.-led NATO intervention to topple Libya’s Muammar Gaddafi in 2011 resulted in a power vacuum that has allowed terror groups like ISIS to gain a foothold in the country. Despite the destructive consequences of the 2011 invasion, the West is currently taking a similar trajectory with regard to Syria. Just as the Obama administration excoriated Gaddafi in 2011, highlighting his human rights abuses and insisting he must be removed from power to protect the Libyan people, the Trump administration is now pointing to the repressive policies of Bashar al-Assad in Syria and warning his regime will soon come to an end — all in the name of protecting Syrian civilians.
- Angst In America – Disappearing Pensions
There was once a time when many American workers had a simple formula for retirement: You stayed with a large business for many years, possibly your whole career. Then at a predetermined age you gratefully accepted a gold watch and a monthly check for the rest of your life. Off you went into the sunset. That happy outcome was probably never as available as we think. Maybe it was relatively common for the first few decades after World War II. Many of my Baby Boomer peers think a secure retirement should be normal because it’s what we saw in our formative years. In the early 1980s, about 60% of companies had defined-benefit plans. Today it’s about 4% (source: money.CNN). But today defined-benefit plans have ceased to be normal in the larger scheme of things. We witnessed an aberration, a historical anomaly that grew out of particularly favorable circumstances.
- Wars and Rumors of Wars
The world is nervous. With the recent US missile strike in Syria and escalating tensions in North Korea, people have turned their thoughts to war. Google searches for “world war 3” have hit all-time highs according to info available on Google Trends. Related searches such as “Trump war,” “Syria war,” and “nuclear war” are also trending at record levels. The Korea Times reported a high level of anxiety in South Korea as the US and North Korea spar in an escalating war of words and military posturing. President Trump recently ordered a US carrier group to waters near the Korean peninsula, saying North Korea is “looking for trouble.” An aid for Kim Jong-un warned a ‘reckless’ Donald Trump that North Korea will ‘annihilate’ the US. Meanwhile, South Koreans have flooded a popular message board in that country with talk of war.
- Remember quantitative easing? It could make a comeback, says Boston Fed president
The next recession is likely to force the Federal Reserve to once again buy up large amounts of assets to boost the supply of money and stimulate the economy, a move that nearly a decade ago was considered drastic and unconventional, according to Boston Federal Reserve president Eric Rosengren. During a speech Wednesday at Bard College in New York, Rosengren said that such purchases — called quantitative easing — will probably become a go-to tool for the Federal Reserve in dealing with recessions. Low inflation, limited productivity growth, and an aging population “may necessitate more frequent use of large-scale asset purchases during recessions,” he said.
- Pastor Lindsey Williams introduces Pastor David Bowen – April 20, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter.
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- Democrats: Trump Must Surrender On Funding For A Border Wall To Avoid A Government Shutdown On His 100th Day In Office
From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
Latest News From April 14, 2017 to April 20, 2017:
- In Stark Warning, IMF Finds Over 20% Of US Corporations At Risk Of Default Should Rates Rise
While the market has been generally euphoric over Trump's proposed fiscal agenda (even if in recent weeks it increasingly looks its implementation will be indefinitely delayed), one adverse side effect which has largely been ignored by the market is the impact of rising interest rates not only on sovereign debt, but on record corporate debt loads. Conveniently, this was one of the more notably topics covered in the latest Global Financial Stability report released by the IMF on Wednesday. According to the IMF writes, as corporate leverage has risen, and is now at the highest level since the start either the financial crisis or the dot com bubble, depending on which metric one uses…
- Chaos Coming To A Market Near You This Summer
This month the Fed is adding $23.4 billion in cash to Primary Dealer Trading Accounts in the period April 12-20. This is slightly more than the March addition of $21.9 billion, the smallest add since January 2016. It was a sharp decline from February’s $41.6 billion. You may have thought Quantitative Easing (QE) ended in late 2014, and it did, but the Federal Reserve has continued to add cash to the financial markets every month. It does so via the purchases of mortgage backed securities (MBS). It calls them “replacement purchases.”
- Our Intellectual Bankruptcy: The “Religion” of Economics, UBI and Medicare For All
Here we stand on the precipice, and all we have in our kit is a collection of delusional magical thinking that we label “solutions.” We are not just morally and financially bankrupt, we’re intellectually bankrupt as well. Here are three examples of magical thinking that pass for intellectually sound ideas: 1. Mainstream neo-classical/ Keynesian economics. 2. Universal Basic Income. 3. Medicare for all.
- Paul Craig Roberts – A Walk Through The Destruction Of America’s Once Majestic Paradise
Inlet Beach is an old Florida community in Walton County on the Gulf Coast of the panhandle of Florida. The community circa 1950 originated in federal land dispensed via a lottery to WW II veterans. Winners of the lottery received 1.25 acres in exchange for a $50 filing fee and agreement to construct an 800 square foot block house…
- Another $3 Billion Paper Gold Dump, But Here Is What Is Really Moving The Gold Price
In our April 2nd report (and before) we argued that if gold could close a week over $1250 (later specified as above $1251.50), then we expected a renewed upside surge. Even in early April before that breakout gold had rallied from its late 2016 low by $130. Gold crossed that next threshold as of the weekly close of 4/7, closing that week above $1254. Gold has since moved to the mid $1290s.
- Gold is on the verge of a big breakout
Last night, after Donald Trump bemoaned the strength in the dollar and the gold price jumped in reaction, I shared this chart on twitter. The last time gold tested this key resistance line, I was less optimistic about its ability to overcome it. However, as technicians like to say, the more times resistance is tested the weaker it becomes.
- Analyst: Gold’s Long Correction Is Officially Over
Technical analyst Jack Chan charts the completion of the gold market’s long correction. Our proprietary cycle indicator is now up. The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term. The gold sector is also on a short-term buy signal. Short-term signals can last for days and weeks, and are more suitable for traders that are nimble enough to get in and out of positions relatively quickly. A breakout was confirmed last week, suggesting that the multi-month correction since last summer is now over. This is hugely bullish for gold.
- By 2020 Two-Thirds Of Wild Animals Will Have Been Wiped Out Over A 50 Year Period As Mass Die-Offs Accelerate All Over The Planet
It has been called “the long extinction”. Our planet is in the process of dying, and as you will see below, this process of death and destruction appears to be accelerating. According to a report that was put out by the World Wildlife Fund and the Zoological Society of London, the number of wild animals around the globe appears to be decreasing at a rate of about 2 percent a year. 2 percent may not sound like a lot to you, but over 10 years that would mean that 20 percent of all wild animals in the world would be gone. And according to that same report, it is being projected that the total loss of wildlife during the 50 year period from 1970 to 2020 will be a staggering 67 percent…
- Stocks & Dollar Crash-Gold & Silver Spike
Market cycle analyst Bo Polny says he may have been wrong in the past about a stock market top, but now the top is in and predicts, “As of March 1st (2017), we believe the stock market, the Dow, the S&P, and all the world markets for that matter, are supposed to have topped and from this point forward, we are supposed to see a very ugly April.” Polny gives another April prediction and states, “Trump’s first 100 days in office ends April 30th. Before his 100 days are up, expect three things: Expect a stock market crash, expect a dollar crash and expect gold and silver, they (Fed) are going to lose control, and you are going to see a sharp spike in the month of April.”
- 28 heads of state, leaders to attend Belt & Road summit in Beijing
28 heads of state and government leaders, including Russian President Vladimir Putin, have confirmed they will attend the Belt and Road summit in Beijing on May 14-15. On Tuesday, Chinese Foreign Minister Wang Yi said Chinese President Xi Jinping will host the round table summit of the leaders. Dubbed ‘One Belt, One Road,’ the plan is to revive an ancient trading route stretching from Asia to Europe. Beijing and Moscow have also indicated they have reached consensus on integrating China’s ambitious One Belt One Road plan with Russia’s Eurasian Economic Union. The Belt and Road Forum for International Cooperation will be held from May 14 to 15 in Beijing.
- Alaska Needs Much Higher Oil Prices To Reverse Its Oil Fortunes
This year marks Alaska’s 40th anniversary of the Trans Alaska Pipeline Systems (TAPS)—an 800-mile-long crude oil route that runs from the North Slope to Valdez, the northernmost ice-free port in North America. However, Alaska’s declining oil output in recent years has not only stretched the state’s budget, it has also added a challenge to the functioning of the pipeline—decreased throughput means the pipeline is now about three-quarters empty, and crude oil flows are slower. The peak of oil flow through the pipeline was at 2 million barrels per day in 1988. Last year, throughput was 517,500 bpd, a 1.8-percent increase from 2015. This was the first annual increase since 2002, but still a far cry from the days of peak flow.
- Europe Gets Its Doomsday Scenario
The rise of French far-right presidential candidate Marine Le Pen has made a lot of people nervous since, among many other things, she’s in favor of leaving the eurozone, which would pretty much end the common currency. But since polling has shown her making the two-person run-off round but then losing to a mainstream candidate, the euro-elites haven’t seen any reason to panic. Here, for instance, is a chart based on February polling that shows Le Pen getting the most votes in the first round, but then – when mainstream voters coalesce around her opponent – losing by around 60% – 40%. The establishment gets a bit of a scare but remains firmly in power, no harm no foul.
- Mapping the Hourly Wage Needed to Rent a 2-Bedroom Apartment in Every U.S. State
Yes, the American economy is improving, and yes, we’re creating more jobs. But the hourly wages for a lot of these jobs are stagnant at best. According to the Pew Research Center, 30 percent of America’s workforce earns a near-minimum-wage salary—that’s almost 21 million people. As a cruel paradox, rents across the country keep rising. A new report by the National Low Income Housing Coalition examines how these opposite trends play out regionally. The work maps how much an American worker needs to earn per hour in each state to rent a two-bedroom apartment. It finds that in no state can a person earning minimum wage afford such an apartment at market rent.
- ‘The dominoes are starting to fall': Retailers are going bankrupt at a staggering rate
Retailers are filing for bankruptcy at an alarming rate that's quickly approaching recessionary levels. It's only April, and nine retailers have already filed for bankruptcy since the start of the year — as many as all of last year. “2017 will be the year of retail bankruptcies,” Corali Lopez-Castro, a bankruptcy lawyer, told Business Insider after she attended a recent distressed-investing conference in Palm Beach, Florida. “Retailers are running out of cash, and the dominoes are starting to fall.”
- Uber Confirms Horrendous Loss in 2016
On Good Friday, when markets were closed and when the entire financial world was tuned out, and when certainly no one was supposed to pay attention, Uber, the most highly valued – at $62.5 billion – and the most scandal plagued tech startup in the world, took the until now unprecedented step of disclosing its audited revenues and losses for the fourth quarter and for the full year of 2016. Rumors of ballooning losses for 2016 had been swirling since last summer. Bloomberg reported in August that Uber had lost “at least $1.2 billion” in the first half. In December, Uber’s loss in Q3 was said to “exceed $800 million,” according to Bloomberg, and its annual loss “may hit $3 billion.” Others chimed in as some of Uber’s dozens of investors who’re getting its financial statements share them in dribs and drabs with the media.
- So Who Are the Debt Slaves in this Rich Nation?
We constantly hear the factoids about “American households” that paint a picture of immense wealth – and therefore a lack of risk for consumer lenders during the next downturn. We hear: “This – the thing that happened in 2008 and 2009 – won’t happen again.” For example, total net worth (assets minus debt) of US households and non-profit organization (they’re lumped together) rose to an astronomical $92.8 trillion at the end of 2016, according to the Federal Reserve. This is up by nearly 70% in early 2009 when the Fed started its QE and zero-interest-rate programs. Inflating household wealth was one of the big priorities of the Fed during the Financial Crisis. It would crank up the economy. In an editorial in 2010, Fed Chair Ben Bernanke himself called this the “wealth effect.” So with this colossal wealth of US households, what could go wrong during the next downturn?
- Millennials Are Homesteading, Buying Affordable Homes, Building Community
While it’s certainly good sport to mock “snowflakes,” not all Millennials are snowflakes. Many are homesteading, buying affordable homes and building communities that get stuff done. I discuss these trends with Drew Sample, who is living them in Ohio. ( hear a 60-second excerpt or listen to the full podcast on Drew’s site.) Although the mainstream media focuses on bubble-priced Left and Right coast homes costing hundreds of thousands of dollars, there are perfectly serviceable houses that can be had for $50,000 or less elsewhere in America. Drew just bought one, and rather than go through a bank for the mortgage, he arranged (with the help of a real estate attorney) for a family member to put up the mortgage.
- Man Who Advises Top Sovereign Wealth Funds In The World Says All Hell Is Going To Break Loose In 2017
“Everything leads to gold (in 2017). Gold is the undiscovered asset. Most institutional investors have not been interested in gold because they think the Fed is raising interest rates and the economy is strong. And yet today, what happened? Gold and silver took off. Gold and silver both rose above their 200-day moving averages. With a sudden surge late in the day, Trump came out and said the dollar shouldn’t be so strong. The dollar sold off and gold and silver took off (to the upside).”
- The U.S. and China: Why the Sudden Convergence on North Korea?
In the past, China resisted U.S. saber-rattling against North Korea. Now China is threatening North Korea with military action. What’s going on? Why the sudden convergence of U.S.-China threats of military force against North Korea? China Threatens To Bomb North Korea’s Nuclear Facilities If It Crosses Beijing’s “Bottom Line”.
- Does Your Plan B Include a Second Place to Live If Plan A Doesn’t Work Out?
We all have a Plan A—continue living just like we’re living now. Some of us have a Plan B in case Plan A doesn’t work out, and the reasons for a Plan B break out into three general categories: Preppers who foresee the potential for a breakdown in Plan A due to a systemic “perfect storm” of events that could overwhelm the status quo’s ability to supply healthcare, food and transportation fuels for the nation’s heavily urbanized populace. People who understand their employment is precarious and contingent, and they might have to move to another locale if they lose their job and can’t find another equivalent one quickly. Those who tire of the stresses of maintaining Plan A and who long for a less stressful, less complex, cheaper and more fulfilling way of living.
- A Government of Morons
It has become embarrassing to be an American. Our country has had four war criminal presidents in succession. Clinton twice launched military attacks on Serbia, ordering NATO to bomb the former Yugoslavia twice, both in 1995 and in 1999, so that gives Bill two war crimes. George W. Bush invaded Afghanistan and Iraq and attacked provinces of Pakistan and Yemen from the air. That comes to four war crimes for Bush. Obama used NATO to destroy Libya and sent mercenaries to destroy Syria, thereby commiting two war crimes. Trump attacked Syria with US forces, thereby becoming a war criminal early in his regime.
- Here Is The Really Big Shocker With The World Now On The Edge Of Destruction
You have to go back to the Cuban missile crisis in 1962 to find the world as close to nuclear war as today. As tensions surrounding North Korea ratchet up, it’s all too easy to imagine it could lead to a conflict that is part nuclear, part conventional, part chemical, in which millions die and the world’s economy loses trillions of dollars. Is this an invitation to load up on gold? I would wait. The reason I say this is because when I analyze what lies behind the sharp rise in tension, I think the Korean situation is likely to take a turn towards sanity. This could mean additional downside in the metal, any short-term blip notwithstanding. Having said that, the longer term case for gold has strengthened even more.
- China Starting To Resemble Bernie Madoff
Audible.com just released a new show on Bernie Madoff (Ponzi Supernova, available for free to subscribers) that explains how the world’s biggest financial scam was enabled by banks and hedge funds who were making so much money that they chose to ignore obvious red flags.
- The IRS Now Has Moved Beyond Extortion To Outright Theft While the Police Rob Americans Blind
People need to realize what government is. It isn’t there to protect you. All government really is is a criminal enterprise that is the most successful one in each geographical jurisdiction. The only difference between the mafia and government is size. And the IRS is just the largest protection racket in the US. If you pay the IRS its “protection money,” which they call taxes, they won’t kidnap you and put you into a rape camp. That’s the “protection.” But now the US government is so bankrupt financially and morally that it is going beyond an outright mafia operation to straight up robbing people. In the US today both yourself and your property are guilty until proven innocent.
- The Boston Marathon Bombing After Four Years
Today, April 15, 2017, is the fourth anniversary of the Boston Marathon Bombing, a hoax event performed by crisis actors and tell-tale bright red Hollywood blood. Sheila Casey has done a good job of exposing the hoax just by using the time line and photos of the event. A number of agencies run training programs in which amputees working as crisis actors have a prosthesis afixed to resemble a bone as a remaining piece of a leg or arm. Casey examines the Boston event by timeline. First the crisis actors are assembled. Then the prosthesis is attached. Then the blood appears.
- I Feel Sick, Because The U.S. Is On The Verge Of Making An Extremely Costly Mistake
All day long I have just felt sick. Right at this moment, we are closer to war with North Korea than we have been at any point since the Korean War ended in 1953. If Donald Trump decides to launch a military strike against North Korea’s nuclear facilities, the consequences could be absolutely catastrophic. The North Koreans have already promised to launch nukes at South Korea and at U.S. military bases in the region in return, and they also have vast stockpiles of chemical and biological weapons that they could use as well. To get an idea of the chaos that just a handful of North Korean agents armed with biological weapons could unleash inside the United States, just see this article. A military strike on North Korea could be the spark that sets off a global war in which millions of people die, and so we need to do all that we can to prevent this from happening. My hope is that if people make enough noise that Trump will back down and decide not to attack.
- 9-Year-Old Boy Has A Vision Of An Asteroid Hitting The Atlantic And A Nuclear War Involving The United States
Did God give a 9-year-old boy a vision of the future of America? Last night, my wife pulled me aside and strongly urged me to watch part of an amazing video that she had found on YouTube. I was quite tired at the time, but I agreed to watch it because I could tell from my wife’s expression that she had found something special. And without a doubt, what I am about to share with you does appear to be extraordinary. A grandmother known as “A Daughter of The Highest King” on YouTube came across a dry erase board that her 9-year-old grandson had been drawing on, and the things that he had been drawing were so unusual that she decided to ask him about them.
- Strong Dollar Could Cause Bond Market Crash
Renowned financial expert Martin Armstrong says the biggest risk out there is the effect a strong U.S. dollar has on the global bond market. Armstrong explains, “There’s these people who keep saying the dollar is going to crash. If the dollar crashes, the world is happier and basically celebrating. You have half the U.S. debt equivalent in emerging market debt issued in dollars. If the dollar goes up, they are in trouble. Then you are going to see sovereign defaults. . . . The U.S. is not going to default, but as you start defaults elsewhere outside the country, it makes people begin to get concerned about sovereign debt. Sovereign debt is the worst of all. It’s not secured. If the U.S. government defaulted on its debt, what would happen? You cannot go down to the National Gallery and start lifting Picassos.”
- The Dow Falls Another 138 Points As Geopolitical Shaking Forces Investors To Race For The Exits
Stock prices just keep on falling, and many analysts are now wondering if a full-blown stock market crash is in our near future. On Thursday, the S&P 500 and the Dow both closed at 2 month lows after Donald Trump dropped “the mother of all bombs” in Afghanistan. It was the first time that one of these bombs has ever been used in live combat, and it is being reported that each of these bombs weighs 22,000 pounds and costs 16 million dollars to make. Of course Trump was trying to send a very clear message to the rest of the world by dropping this bomb, and investors interpreted it as a sign that we are getting even closer to war.
- Tech Stocks Experience Their Longest Losing Streak In 5 Years As Panic Begins To Grip The Market
S&P 500 tech stocks have now fallen for 9 days in a row. The last time tech stocks declined for so many days in a row was in 2012, and that was the only other time in history when we have seen such a long losing streak. As I have stated before, the post-election “Trump rally” is officially done, and the market is starting to roll over as investors begin to realize that all of the buying momentum has completely evaporated. Tech stocks tend to be particularly volatile, and so the fact that they are starting to lead the way down should definitely be alarming to many in the investing community.
- Chinese firm halves worker costs by hiring army of robots to sort out 200,000 packages a day
The machines are cheaper than human workers and are also more efficient and accurate in sorting out parcels, spokesman says. A viral video showing an army of little orange robots sorting out packages in a warehouse in eastern China is the latest example of how machines are increasingly taking over menial factory work on the mainland. The behind-the-scenes footage of the self-charging robot army in a sorting centre of Chinese delivery powerhouse Shentong (STO) Express was shared on People’s Daily’s social media accounts on Sunday.
- The new age of Ayn Rand: how she won over Trump and Silicon Valley
As they plough through their GCSE revision, UK students planning to take politics A-level in the autumn can comfort themselves with this thought: come September, they will be studying one thinker who does not belong in the dusty archives of ancient political theory but is achingly on trend. For the curriculum includes a new addition: the work of Ayn Rand. It is a timely decision because Rand, who died in 1982 and was alternately ridiculed and revered throughout her lifetime, is having a moment. Long the poster girl of a particularly hardcore brand of free-market fundamentalism – the advocate of a philosophy she called “the virtue of selfishness” – Rand has always had acolytes in the conservative political classes. The Republican speaker of the US House of Representatives, Paul Ryan, is so committed a Randian, he was famous for giving every new member of his staff a copy of Rand’s gargantuan novel, Atlas Shrugged (along with Freidrich Hayek’s Road to Serfdom). The story, oft-repeated, that his colleague in the US Senate, Rand Paul, owes his first name to his father Ron’s adulation of Ayn (it rhymes with “mine”) turns out to be apocryphal, but Paul describes himself as a fan all the same.
- G7 Fails To Agree On New Russian Sanctions: US, UK Push Rejected By Europe
While eager to show a united front against Russia and Syria, G7 foreign ministers meeting in Italy again failed to reach an agreement over new sanctions against the two nations as a British plan to impose targeted sanctions on military personnel in Russia and Syria, supported by the US, was rejected by European allies. “There is no consensus on additional new sanctions,” Italian Foreign Minister Angelino Alfano said.
- Trump Flips On Five Core Campaign Promises In Under 24 Hours
Blink, and you missed Trump's blistering, seamless transformation into a mainstream politician. In the span of just a few hours, President Trump flipped to new positions on several core policy issues, backing off on no less than five repeated campaign promises. In a WSJ interview and a subsequent press conference, Trump either shifted or completely reversed positions on a number of foreign and economic policy decisions, including the fate of the US Dollar, how to handle China and the future of the chair of the Federal Reserve.
- Trump wants health-care before tax reform, but expects both to be done by year end
President Donald Trump said he intends to repeal Obamacare before moving on to tax reform and the rebuilding of U.S. infrastructure. “We're going to have a phenomenal tax reform, but I have to do health care first,” Trump said in an interview that aired Wednesday on Fox Business. Trump and the GOP House leaders last month canceled a planned vote on the American Health Care Act, which was the Republican plan to replace the Obama-era health-care law. In the interview, Trump said his initial August deadline for a tax reform plan will be moved back, but he plans to complete both health care and tax reforms by the end of this year.
- Recession Alert: Government Revenues Suffer Biggest Drop Since The Financial Crisis
On the surface, today's monthly budget statement was disappointing: in March the US Treasury brought in total receipts of $216 billion, below the $228 billion last March, versus outlays of a record $392 billion, resulting in a deficit of $176 billion, more than the $167 billion expected, and $68 billion more than the previous year. For the fiscal year through March 31, the total US budget deficit was $527 billion, compared to $459 billion on year ago.
- Zimbabwe Central Bank To Accept Cows, TVs, Fridges As Collateral
Long before China Huishan Dairy Holdings, China's largest daily farmer, became known as the latest Chinese corporate fraud whose stock crashed 90% in seconds after a Muddy Waters report brought attention to its questionable shadow banking funding, exposing the company as a hollow sham and leading to the prompt departure of four of its directors who hope (in vain) to escape prison time, the company was best known for being the first ever company to do cow-collateralized stock buybacks.
- Tony Robbins, Pitbull And 5 Other Signs That Toronto Real Estate Is About To Crash
If Tony Robbins and Pitbull come to your town to present you with ‘an offer you can't refuse' to buy residential real estate after it's already surged over 200% in the past decade and 30-40% in the last year, that should be all the evidence you need to do the exact opposite. If, however, you're the type of person that doesn't easily pick up on the ‘subtle' market cues then here's a couple more reasons to avoid Toronto real estate at all costs.
- “Worse Than Lehman” – Euro Uncertainty Spikes To Record High
Investors are showing increasing concern before the French presidential elections, with market complacency giving way to extreme cautiousness. As Bloomberg reports, the spread between one-month and one-week implied volatilities on the euro versus the dollar closed at a record high of 6.35 percentage points on Monday, as near-term risks remain subdued and focus is almost solely placed on the chance that anti-euro candidate Marine Le Pen wins the race.
- Saudi Arabia Vs. Russia: The Next Oil Price War
International oil markets could be heading towards a new war, as leading OPEC and non-OPEC producers are vying for increased stakes. The unexpected cooperation between OPEC and non-OPEC countries, instigated by the full support of Saudi Arabia (OPEC) and Russia (non-OPEC) has brought some stabilization to the crude markets for almost half a year. The expected crude oil price crisis has been averted, it seems, leaving enough room when looking at the fundamentals to a bull market in the coming months. As long as Saudi Arabia, Russia and some other major producers (UAE, Kuwait), are supporting a production cut extension, financials will be seeing some light at the end of the tunnel.
- S&P 500 Chart Indicates A Potential Top Forming
Below looks at the S&P 500 over the past couple of years on a weekly closing basis. The S&P hit a key level around 6-weeks ago and continues to “back off!” The Power of the Pattern applied Fibonacci to the 2016 “weekly closing highs and lows” at each (1), then applied the 161% extension level to them. SPY hit the 161% extension level around 6 weeks ago, at the 238 level and has proceeded to create a series of lower highs, while breaking a steep rising support line at (2). This line was created off the lows at the time of the election.
- Former Fed Analyst: Gold Is “Ultimate Safe-Haven Investment”
From both an economic and political standpoint, it seems the only certainty in the world right now is uncertainty. As Danielle DiMartino Booth says, that’s a good reason to buy gold. Booth worked as an as an analyst at the Federal Reserve Bank of Dallas. After leaving the Fed, she founded Money Strong, LLC, an economic consulting firm. She also authored Fed Up: An Insider’s Take on Why the Federal Reserve Is Bad for America. In a recent appearance on Jay Taylor’s Turning Hard Times into Tough Times podcast, Booth called gold “the ultimate safe-haven investment.”
- The Ticking Debt Bomb
Tick … tick … tick … That sound you hear is a ticking debt bomb. According to the most recent data released by the Federal Reserve, outstanding credit card debt eclipsed the $1 trillion mark in February, increasing 6.2% from a year ago. Credit card debt now stands at the highest level since the 2008 crash, according to Fortune. However, credit cards make up just one component of the debt bomb in America. Student and auto loan debt are also both above $1 trillion and rising. Total consumer credit rose by $15.2 billion in February to $3.79 trillion. The annual growth rate of total consumer debt stands at 4.8%.
- Bank of England Rigging LIBOR – Gold Market Too?
The LIBOR scandal reemerged yesterday as the BBC’s Panorama uncovered a secret recording implicating the Bank of England in the interest rate manipulation saga. According to the BBC the central bank pressured commercial banks during the 2008 financial crisis to lower their settings for LIBOR. In a telephone recording, aired last night in the UK, a senior Barclays manager, Mark Dearlove, can be heard instructing Libor submitter Peter Johnson, to lower his rates. Mr Johnson: “So I’ll push them below a realistic level of where I think I can get money?” Mr Dearlove: “The fact of the matter is we’ve got the Bank of England, all sorts of people involved in the whole thing… I am as reluctant as you are… these guys have just turned around and said just do it.”
- Millennials Are Abandoning the Postwar Engines of Growth: Suburbs and Autos
If anything defined the postwar economy between 1946 and 1999, it was the exodus of the middle class from cities to suburbs and the glorification of what Jim Kunstler calls Happy Motoring: freeways, cars and trucks, ten lanes of private vehicles, the vast majority of which are transporting one person. Ol’ 55 (freeway cars and trucks) (written by Tom Waits, performed by The Eagles). The build-out of suburbia drove growth for decades: millions of new suburban homes, miles of new freeways, sprawling shopping malls, and tens of millions of new autos, trucks, and SUVs, transforming one-car households into three vehicle households. Then there was all the furnishings for those expansive new homes, and the credit necessary to fund the homes, vehicles, furnishings, etc. Now the Millennial generation is turning its back on both of these bedrock engines of growth. As various metrics reveal, the Millennials are fine with taking Uber to work, buying their shoes from Zappos (return them if they don’t fit, no problem), and making whatever tradeoffs are necessary to live in urban cores.
- Is That Armageddon Over The Horizon?
The insouciance of the Western world is extraordinary. It is not only Americans who permit themselves to be brainwashed by CNN, MSNBC, NPR, the New York Times and Washington Post, but also their counterparts in Europe, Canada, Australia, and Japan, who rely on the war propaganda machine that poses as a media. The Western “leaders,” that is, the puppets on the end of the strings pulled by the powerful private interest groups and the Deep State, are just as insouciant. Trump and his counterparts in the American Empire must be unaware that they are provoking war with Russia and China, or else they are psychopaths. A new White House Fool has replaced the old fool. The New Fool has sent his Secretary of State to Russia. For what? To deliver an ultimatum? To make more false accusations? To apologize for the lies?
- Jim Rickards: Implementing Trump’s Economic Plan is “Sheer Fantasy”
Is the so-called Trump Trade about to unravel? Economic analyst Jim Rickards thinks so. The Trump Trade rests on the idea that the president’s proposed policies of lower taxes, infrastructure spending, Obamacare repeal, and decreasing government regulations will juice the economy. As a result, corporate earnings will increase and the stock market will rise with them. Indeed, with Trump’s election, the stock market took off on a bull run. Between Election Day and March 1, the Dow gained 15%, moving from 18,332.74 to 21,115.55. Some have dubbed it the “Trump Bump.”
- Art Cashin – A Great Storm Is Brewing
On this day in 1814, Napoleon Bonaparte stood in the hands of captors. Just three years earlier he had been the self-proclaimed Emperor of France, de Facto ruler of most of Europe and the proud father of a new-born son by his second wife. In addition, even his enemies had conceded him a unique sense of governance – his Napoleonic code stands to this day on two continents. But he had an aggressive M & A department that told him to gamble all this for a hostile takeover of Russia. It wasn’t junk bonds that did him in. Instead it was junk weather. When his victorious army found itself forthright but freezing, he was forced to retreat. And even though he fought off old enemies in incredible ways – once they touched French soil he abdicated to save his people.
- Grand Goal Is War
Analyst/trader Gregory Mannarino says war should figure into any investment strategy because one is coming. Mannarino says, “It should be clear to people that we are now at a pivotal moment. . . . Whenever the economy in the United States starts to get shaky, unfortunately, we seem to escalate into new wars, and I think that is where we are going. We have spoken about this in the past. This is their grand goal. War is the goal. War has always been the goal. We are already in it, and I really believe this war started a while ago. It’s now really starting to come into the public light, and now we are in the propaganda war. This is what goes on at the beginning of every major engagement.”
- Pastor Lindsey Williams introduces Pastor David Bowen – April 13, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter.
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From James Harkin (Webmaster & Editor of LindseyWilliams.net). Here is a summary of articles of interest from around the world for this week. Please LIKE the Lindsey Williams Online Facebook Page to see stories posted daily regarding the current state of the economy around the world.
Latest News From April 7, 2017 to April 13, 2017:
- The Price Of Gold Spikes As Investors Get Spooked By Talk Of World War III And Nuclear Conflict
Whenever the world starts going crazy, investors instinctively begin flocking to precious metals. So it wasn’t exactly a surprise when gold and silver prices started to move upward aggressively as global leaders continued to talk about the possibility of World War III and nuclear conflict. The price of gold spiked to a five month high on Tuesday, and as I write this article gold is currently sitting at $1277.10 an ounce. Right now silver is at $18.35 an ounce, and many analysts believe that it is poised for a dramatic jump in the weeks and months to come as global tensions continue to rise. Google searches for the phrase “going to war” are the highest that they have been at any point in recent years, and many people out there are starting to understand that the U.S. could soon be facing military conflicts in Syria and in North Korea simultaneously.
- Donald Trump Is NOT Bluffing – So What Happens If Kim Jong-Un Is Not Bluffing Either?
Donald Trump has repeatedly promised to “solve” the North Korean problem, and the North Koreans have repeatedly promised to use nuclear weapons in response to any attack by the U.S. military. So what happens if both sides are not bluffing? For eight years, Americans had become accustomed to Barack Obama making threats and never following through on them, so it surprised a lot of people when Trump actually backed up his words by striking Syria after publicly pledging to do so. Now Trump has publicly committed to take military action in North Korea, and I am absolutely convinced that he is not bluffing. But if Kim Jong-Un is not bluffing either, and I don’t think that he is, that means that we are on the verge of what could be a horrifying military conflict with the North Koreans.
- How China Is Keeping Its Financial System From Collapsing, In One Chart
Overnight, Bloomberg has posted the latest article in a long-running series of warnings about the dangers of China's, now $9 trillion – and fast approaching 100% of GDP – shadow banking system, which it says is playing a “game of chicken with investors”, and which boils down to the following: if there is a high profile failure of any one of the countless wealth management product, or WMPs, which comprise the vast majority of China's shadow banking system, and if the government does not bail it out – as it has threatened on several occasions to do – there may be a mass “run on the shadow bank”, resulting in unknown adverse consequences for China's broader financial markets.
- California Taxpayers Expected To Nearly Double Public Pension Contributions Over Next 5 Years
The California Policy Center (CPC) has just updated it's annual study on pension contributions required from local California municipalities and, to our complete ‘shock', the conclusions are brutal for Cali taxpayers. Among other things, the study found that California taxpayers will be forced to double their contributions to CalPERS over just the next 5 years alone from $5.3 billion in 2017/2018 tax year to $9.8 billion in 2022/2023.
- Are Corporate Pensions About To Start Dumping Their $1 Trillion In Equity Holdings
Several large public pensions around the country are in serious trouble and, after several years of paying out more in distributions than they take in (which is the textbook definition of a ponzi scheme, btw), many are just one more equity market crash away from completely running out of cash. In fact, we recently wrote about how Chicago's largest pension fund could run out of cash within 4 years if such a scenario played out (see “How Chicago's Largest Pension May Run Out Of Cash In As Little As 4 Years”).
- Mac Slavo Warns Prepare For War: “It's Going To Obliterate The Global Financial System…”
You know what’s so tragic about America? Despite all of the wars our nation gets involved in, we’re secretly one of the most peaceful cultures on the planet. We voted for George Bush, because he promised us a non-interventionist foreign policy. We voted for Obama, because he promised to bring the troops home from Iraq and Afghanistan. We voted for Trump, because he promised to end the nation building policies of his predecessor. And that’s the real tragedy. We’ve been voting for peace for nearly 20 years now, and all we get is war. That should really tell you something. It should tell you that our system doesn’t care about what the president stands for, or what the voters want. The system is never held accountable for anything, so there is nothing stopping it. One way or another, the deep state always gets its way. So if our government wants a war, then you can bet that we’re going to war.
- Gold Prices Surge Above Key 200 Day Moving Average $1270 Level
Gold prices surged another 2% to a five-month high above $1,270 amidst geopolitical uncertainty and weak US economic data. The break above the 200-day moving average has cleared the way for a run towards $1,300/oz. It means that gold continues to be one of the best performing assets in 2017 with gains of 10.3% year to date building on the 9% gains in 2016. Gold’s move was a traditional flight to safety following the US’ missile attack on Syria and Trump making aggressive sounds regarding intervention against North Korea including tweets. The weak jobs report also prompted fears that future Fed interest rate hikes could be delayed or slowed and this has provided further support for the price of gold.
- Toshiba files unaudited results and says future is in doubt
Toshiba has filed its delayed financial results, warning that the company's survival is at risk. “There are material events and conditions that raise substantial doubt about the company's ability to continue as a going concern,” the company said in a statement. The electronics-to-construction giant reported a loss of 532bn yen (£3.8bn; $4.8bn) for April to December. However, the results have not been approved by the firm's auditors. These latest financial results have already been delayed twice and raise the possibility that Toshiba could be delisted from the Tokyo Stock Exchange. Toshiba's president, Satoshi Tsunakawa, apologised for the problems facing the firm and called the auditor's decision not to approve the financial report as “truly regrettable”. He said he hoped the company would not be delisted.
- Confusion In Bond World, As Eurodollar Shorts Hit New Record High Over $3 Trillion
One week after we observed the biggest monthly short squeeze in 10Y TSYs in history, it was a relatively calm week in the longer-end of the Treasury curve. According to the latest CFTC data, spec net shorts in aggregate Treasury futures was little changed from the previous week at 612K contracts in TY equivalents. While, they continued to pare net shorts in TU and TY by 18K and 14K contracts, respectively, they increased their net shorts in FV and TN by 35K contracts and 6K contracts, respectively. Spec net shorts as share of open interest was unchanged at -5.8% over the week and was at about -2.0 standard deviations away from neutral.
- War on Cash Puts ECB, EU on Collision Course with Germany
Relations between Germany, and the ECB have curdled in recent times over a key issue: the role of cash. Germans have a soft spot for physical lucre while the ECB and Europe’s executive branch, the European Commission, have openly expressed their desire to suppress, or even punish, its use. For Germany’s central bank, the Bundesbank, the war on cash is a war on personal freedom and choice, in the name of saving a financial system and its absurd negative interest rates. Last year Bundesbank president Jens Weidmann warned that it would be “disastrous” if people started to believe cash would be abolished — an oblique reference to the risk of negative interest rates and the escalating war on cash triggering a run on cash.
- Great Debt Unwind: Consumer Bankruptcies Jump, First since 2010. Commercial Bankruptcies Spike
Commercial bankruptcy filings, from corporations to sole proprietorships, spiked 28% in March from February, the largest month-to-month move in the data series of the American Bankruptcy Institute going back to 2012. They’re up 8% year-over-year. Over the past 24 months, they soared 37%! At 3,658, they’re at the highest level for any March since 2013. Commercial bankruptcy filings skyrocketed during the Financial Crisis and peaked in March 2010 at 9,004. Then they fell sharply until they reached their low point in October 2015. November 2015 was the turning point, when for the first time since March 2010, commercial bankruptcy filings rose year-over-year.
- Government Shutdown Odds Are Rising, Goldman Warns
Having been quite confident that Trump would be able to pass some form of Tax reform as recently as two weeks ago, Goldman's Washington analyst, Alec Phillips, is turning increasingly more pessimistic on the prospects that Trump's economic agenda will gain traction in Congress, especially now that attention has seemingly shifted to Trump's bombing policies in Syria (and perhaps North Korea in the not too distant future). In a note over the weekend, the Goldman strategist writes that “following the failure to pass the American Health Care Act (AHCA), which would repeal the Medicaid expansion and tax hikes enacted in the Affordable Care Act (ACA) and reduce the tax subsidies for health insurance under that law, Republican leaders in the House have struggled to develop an alternative health proposal that might find enough support to pass. At this point, it still appears possible that the House could pass a revised version of the bill at some point in May. However, the compromises that might be made in the House to gain support are apt to reduce support in the Senate, and the process in that chamber would take much longer than even the drawn out House process, in our view.”
- Goldman Downgrades French Bonds Ahead Of Elections
Roughly at the same time as today's French election narrative shifted again as traders started paying attention to the suddenly surging in the polls far-left candidate Jean-Luc Melenchon, which pushed the Euro to the lowest level in a month, Goldman has come out with a recommendation to short June OAT futures (OATM7) at 147-72, for an initial target of 144.00, and stops on a close above 150.00. In the note, Goldman's Francesco Garzarelli writes that a victory by a moderate reformist presidential candidate (Fillon, Macron), which is the base case at the bank, would result in a narrowing of French bond spreads but may be offset by a selloff in core rates. He writes that the “fair level” of 10-year spread to bunds is in the region of 30bp-40bp, from 70bp currently, according to Goldman.
- Three More Reasons to Worry about the Euro’s Future
“Despite uncertainty over Brexit — formally triggered last week by prime minister Theresa May — central bankers from around the world see the UK as a safer prospect for their reserve investments than the Eurozone, a new poll reveals”: The Financial Times. At first whiff, this may smell counter intuitive. After all, it’s the UK that’s supposed to be in the weaker negotiating position over Brexit terms. It also risks losing a sizable chunk of its core industry, finance. Yet according to a survey of reserve managers at 80 central banks, who together are responsible for investments worth almost €6 trillion, the stability of the monetary union is their greatest fear for 2017.
- Buy, Sell, or Crash? Fed Warns on Stocks and Look what Happens
The Fed has planted three separate warnings on high stock prices into its March-meeting Minutes, released last week. In the past, the Fed has warned on various occasions on high stock prices, with, let’s say mixed results. Stocks have crashed after warnings, and they have crashed without warnings, and they have soared after warnings. Perhaps the most infamous warning on stock prices was when Fed Chairman Alan Greenspan on December 5, 1996, said in a speech that “irrational exuberance has unduly escalated asset values.” Stocks quaked in their boots for about one breath then soared for another three years and three months before totally crashing.
- “A Blatant Display of Unscientific Propaganda:” Cornell Student Exposes GMO Propaganda in Scathing New Letter
My name is Robert, and I am a Cornell University undergraduate student. However, I’m not sure if I want to be one any more. Allow me to explain. Cornell, as an institution, appears to be complicit in a shocking amount of ecologically destructive, academically unethical, and scientifically deceitful behavior. Perhaps the most potent example is Cornell’s deep ties to industrial GMO agriculture, and the affiliated corporations such as Monsanto. I’d like to share how I became aware of this troubling state of affairs.
- 700 jobs under threat as Jaeger falls into administration
Fashion chain Jaeger has collapsed into administration, putting 700 high street jobs at risk. The group's directors have appointed AlixPartners to oversee the process following failed attempts by the company's private equity owner, Better Capital, to sell the struggling business. Jaeger – which employs around 680 staff across 46 stores, 63 concessions, its London head office and a logistics centre in Kings Lynn – had been on the market for around £30 million.
- 40 Different Studies that Confirm GMO Foods are Destroying Your Health
There has been a debate raging about GMOs for a long time now. On one side of the debate is the idea that genetic engineering is progress for humanity, and it is a natural extension of more traditional breeding techniques. The other side believes genetically modified foods are unsafe for human consumption and harmful to the environment. Biotech companies claim that genetic modification yields more precise control over artificial selection. Studies funded by the industry consistently demonstrate safety, but only over the short term.
- Trump is Pushing US Into Scripted and Pre-Planned World War III
Remember before the (s)election when Donald Trump, who was a New York Democrat running as a Republican, was the anti-war candidate? And Killary Clinton, who was a lifelong Democrat, the party that sells itself as the more anti-war party, was the war candidate? And, how Trump’s rhetoric about making friends with Russia and even letting Russia take care of ISIS in Syria led many to believe that the only way to get out of a potential World War III scenario was to vote for Trump? And then how Trump was elected, started saber-rattling with Russia… and China… and North Korea… and then bombed Syria just like Hillary Clinton would have? Yeah, that all happened.
- John Embry – A Catastrophic Endgame Is Rapidly Approaching
With continued uncertainty in global markets, today John Embry told King World News that a catastrophic endgame is rapidly approaching. “Eric, in my vacation enforced absence, the pressure on the gold and silver markets has certainly intensified, as the usual suspects move Heaven and Earth to ensure that sharply rising gold and silver prices don’t undermine the fake reality created by the Western central banks and their almost manic manipulation of the larger markets — stocks, bonds, currencies, real estate, etc…
- Washington’s Deception Is Aimed at Russia
According to a report on RT, Secretary of State Tillerson has on CBS backed away from his previously reported aggressive rhetoric reported by the presstitutes against Russia and Syria. According to the RT report, Tillerson said that Washington’s plan is to defeat ISIS, not to bring regime change to Syria. It is up to the Syrian people, Tillerson reportedly said, to choose their own president. Tillerson said on CBS that “We’ve seen what violent regime change looks like in Libya and the kind of chaos that can be unleashed and indeed the kind of misery that it enacts on its own people,” he said on CBS. “I think we have to learn the lessons of the past,” he emphasized on ABC, adding, “Any time you go on and have a violent change at the top, it is very difficult to create the conditions for stability longer term.”
- Honest Pension Returns Equal Mass-Bankruptcy
Last year the California Public Employees’ Retirement System, otherwise known as Calpers, cut the expected return on the funds it invests for plan beneficiaries from 7.5% to 7%. Seems like a modest change that should have a correspondingly limited impact on all concerned, right? Alas, that’s not how things work in the realm of compound returns, where small initial changes produce hugely different outcomes. In fact, this is a bankruptcy-level event for some California cities.
- The Debt Crisis Of 2017: Once Their Vacation Ends, Congress Will Have 4 Days To Avoid A Government Shutdown On April 29
April 2017 could turn out to be one of the most important months in U.S. history that we have seen in a very long time. On April 6th, Donald Trump attacked Syria on the 100th anniversary of the day that the U.S. officially entered World War I, and now at the end of this month we could be facing an unprecedented political crisis in Washington. On Friday, members of Congress left town for their two week “Easter vacation”, and they won’t resume work until April 25th. What this means is that Congress will have precisely four days when they get back to pass a bill to fund government operations or there will be a government shutdown starting on April 29th. Up to this point, there has been very little urgency by either party to move a spending bill forward. It is almost as if everyone is already resigned to the fact that a government shutdown will happen. The Democrats will greatly benefit from a government shutdown because they can just blame the entire mess on the Republicans. But for the GOP, this is essentially the equivalent of political malpractice. To me, there is simply no way that Congress is going to be able to agree on a bill that funds the entire government in just four days. And it turns out that this upcoming deadline comes exactly on the 100th day of Trump’s presidency…
- Not Prepared: Will Most Americans Be Absolutely Blindsided By Multiple Wars And A Simultaneous Economic Collapse?
According to CBS News, an astounding three-fourths of all Americans have to “scramble to cover their living costs” each month. In other words, most of the country is either living paycheck to paycheck or very close to it. But instead of tightening their belts and trying to put something away for the very hard times that are coming, most Americans are completely and utterly unprepared for what is ahead because the people that they trust on television keep telling them that everything is going to be okay. Unfortunately, everything is not going to be “okay”, and when things start falling apart all around us there is going to be a lot of anger directed toward those that have been lulling everyone into a false sense of security.
- South Korean Paper Reports China Has Deployed 150,000 Troops To North Korea Border
While the catalyst is unclear, it appears the market dropped as headlines of further sanctions against Russia appeared and reports of China deploying 150,000 troops to its North Korea border. According to Korean news agency Chosun, the “Chinese army has deployed about 150,000 troops to the North Korean border in two groups to prepare for unforeseen circumstances.” The reason: the prospect of “military options”, such as preemptive attacks on North Korea, like the one the United States launched on Syria.
- First Ever Global Government Crash Coming
Internet data mining expert Clif High uses what he calls “predictive linguistics” to spot trends and make predictions for future events. In his latest in-depth report, High sees a “huge” calamity coming for humanity. Clif High explains, “There is all kinds of data for money and lack of money and lack of funding and all kinds of emotions around this. There are hints in the data that something huge is coming for August and September that is being exposed by the language now. I think it’s a bond crash or not a bond crash because I don’t know how that works. It’s not a stock market crash. The data I am looking at now says the stock market is not meaningful. We may lose 50 cents on every dollar in the stock market in just a few days, but it’s meaningless. It won’t make any difference at all to anybody according to what the data is showing me because the real crisis is in the crash of government.”
- America’s Retailers Are Closing Stores Faster Than Ever
The battered American retail industry took a few more lumps this week, with stores at both ends of the price spectrum preparing to close their doors. At the bottom, the seemingly ubiquitous Payless Inc. shoe chain filed for bankruptcy and announced plans to shutter hundreds of locations. Ralph Lauren Corp., meanwhile, said it will close its flagship Fifth Avenue Polo store — a symbol of old-fashioned luxury that no longer resonates with today’s shoppers. And the teen-apparel retailer Rue21 Inc. could be the next casualty. The chain, which has about 1,000 stores, is preparing to file for bankruptcy as soon as this month, according to people familiar with the situation. Just a few years ago, it was sold to private equity firm Apax Partners for about a billion dollars. “It’s an industry that’s still in search for answers,” said Noel Hebert, an analyst at Bloomberg Intelligence. “I don’t know how many malls can reinvent themselves.”
- Creepy IMF Paper Teaches Governments How to Wage War on Cash
There’s been another shot fired in the “war on cash.” Recently, the International Monetary Fund (IMF) published a working paper offering governments suggestions on how to move toward a cashless society even in the face of strong public opposition. Over the last several years, we’ve seen a steady push to eliminate, or at least limit, the use of cash around the world. In May of 2016, the European Central bank announced it will stop producing and issuing 500-euro notes by the end of 2018. Not long before the EU announcement, a former Obama economic adviser/ex-Treasury secretary floated the idea of eliminating the $100 bill in the US.
- Larry Lindsey – What The World Is Now Witnessing Is Unprecedented
On the heels of the U.S. attack on Syria, the man who served three U.S. presidents and was also a governor of the Federal Reserve, told King World News that what we are now witnessing is unprecedented. “When you look at the U.S. economy, Larry, there’s a rot that’s underneath it. John Williams of Shadowstats keeps track of the real unemployment, and when he quantifies it the way they used to in the 1980s it’s around 23%. We haven’t really seen it come off of that 23% figure yet.
- A Loss Of Faith In The American Dream And Why All Roads Lead To China And A New Gold-Backed Monetary System
On the heels of wild week that included a missile attack against Syria, today one of the top money managers in the world spoke with King World News about a loss of faith in the American dream and why all roads lead to China and a new gold-backed monetary system. “One of the most disquieting reports to come out recently has been that in the U.S. – in contrast to every other developed country – death rates have been rising among middle-aged, largely middle-class whites. At the century’s start, death rates for this demographic were roughly equal in the U.S., France, and Germany. Today death rates in the U.S. are more than 30 percent greater…
- The U.S. Entered World War I On April 6, 1917 – Did Trump Just Start World War III On April 6, 2017?
Did World War III begin on April 6th, 2017? After Donald Trump fired 59 Tomahawk cruise missiles into Syria on Thursday night, millions of Americans were cheering, but the cheering isn’t going to last for long if a new world war erupts. What is amazing to me is that this happened on the 100th anniversary of the United States entry into World War I. The U.S. officially entered that war on April 6th, 1917, and now 100 years later to the day Donald Trump has essentially declared war on Syria. If you think using the term “World War III” is alarmist, you might want to tell that to the vast numbers of people that are buzzing about a new world war all over social media. If you don’t yet understand why a strike on Syria could be so dangerous, go back and read my article from yesterday. If we continue striking Syria, we could very easily find ourselves in a direct military conflict with Russia, Iran and Hezbollah.
- Ron Paul: “Zero Chance” Assad Behind Chemical Weapons Attack In Syria; Likely A False Flag
According to former Congressman Ron Paul, the chemical weapons attack in Khan Sheikhoun that killed 30 children and has led to calls for the Trump administration to intervene in Syria could have been a false flag attack. As Paul Joseph Watson details, pointing out that the prospect of peace in Syria was moving closer before the attack, with ISIS and Al-Qaeda on the run, Paul said the attack made no sense.
- Why Traders Are Now Selling Insurance To Protect Against Volatility: A “Feedback Loop” Theory
Over the past several months, one of the proposals floated on this website to explain the strange collapse in volatility at a time when uncertainty has soared, was the so-called “negative convexity” gamma trade, demonstrated best by the Catalyst Funds' Hedged Futures Strategy Fund in mid-February, according to which traders buying vol has led to dealers offsetting these purchases with more than proportional purchases of offsetting underlying assets as a hedge, in the process pushing sending realized – and thus implied – volatility even lower. Today, the WSJ picks up on this idea, and looks at a possible “feedback loop” scenario in which selling of volatility leads to even more selling of volatility, resulting in a market in which the VIX appears oddly disconnected from prevailing nervous sentiment. According to the WSJ's Jon Sindreau, the theory, advanced by several money managers, bankers and analysts, “describes a type of feedback loop in which calm markets make selling insurance against sharp swings in asset prices profitable, which makes the markets more calm, which then makes selling insurance yet more attractive. And on and on.”
- Gerald Celente Just Released Third Major Trend Forecast For 2017!
On a day where stocks are rallying and gold is weaker, top trends forecaster Gerald Celente has just released a third major trend forecast for 2017! Who Ever Said 2017 Would Be A Dull Year? “At the Trends Research Institute, we observe three worlds of influence that drive trends up or bring them down: The media world, the political world and the real world. For the vast majority of society, beliefs are established and decisions are influenced by mass-media headline stories and social-media sound bites… both of which are steeped in overtones from the political world and passed off as news you can use. Absent real-world facts and solid numbers – as the Donald Trump stock market rally, which has entered its fifth month, stalls – the 10 percent Standard & Poor’s bounce was pumped up by the business-media world of economic hype and the political world of hope and change you can believe in…
- Michael Savage Turns on Trump, Says Syrian Gas Attack Was False Flag Operation
Conservative talk show host, Michael Savage, who fervently supported Trump during the Presidential campaign, soured on him today. Savage, referencing his background in science, having a PhD in epidemiology, said the alleged gas attack in the ISIS controlled city of Idlib was most likely phosgene and not sarin. Backing up his claim that the attack did not contain sarin, Savage made reference to photos showing first-responders attending to bodies without gloves or protective gear. Had sarin been used in the attack, all of those men in white helmets would be dead.
- IMF De-Cashing: Soft-Selling Financial Enslavement
The IMF (International Monetary Fund) or as I like to call them – International Mafia Federation – is showing its true colors and proving beyond question this organization is nothing more than street-corner-thugs in high priced suits. With the release of this latest working paper on how to enslave nations, steal the remaining sovereignty of the people and the nations they have drawn up plans to force a cashless society upon all the people within IMF member nations.
- Uncertainty and the Humility of Forecasting an Unknowable Future
Certainty and uncertainty come in a variety of flavors. “Certainty” seems rather definite, but lurking beneath certainty is the more scientifically verifiable notion of probability: the probability of outcomes can be high enough to qualify as certain and low enough to qualify as unlikely. We can’t know with perfect certainty that our neighbor hasn’t invented a death-ray and may decide to test it on us due to that simmering feud over his dog Fluffy’s antics on our yard. But we can make an assessment of the probability of this occurring, and conclude the probability is low with a high degree of certainty.
- The World’s Best Economist
If you want to learn real economics instead of neoliberal junk economics, read Michael Hudson’s books. What you will learn is that neoliberal economics is an apology for the rentier class and the large banks that have succeeded in financializing the economy, shifting consumer spending power from the purchase of goods and services that drive the real economy to the payment of interest and fees to banks. His latest book is J is for Junk Economics. It is written in the form of a dictionary, but the definitions give you the precise meaning of economic terms, the history of economic concepts, and describe the transformation of economics from classical economics, where the emphasis was on taxing incomes that are not the product of the production of goods and services, to neoliberal economics, which rests on the taxation of labor and production.
- Social Media Companies Must Be Made Public Utilities to Stop Further Abuse
Political correctness has become a cancer in Western society. It inhibits the free and open discussion of ideas, making all of us the worse off for it as it slowly erodes our proud culture of free and open speech. And we’re not talking about repressing anything even close to hate speech, unless you think that dressing up in the colors of the American flag is somehow hate speech. And no, that’s not a joke. In today’s information age, free speech has never been more powerful, or threatening to established powers. And because freedom of speech is generally enshrined in Western culture while censorship is frowned upon, they have had to go with other routes to censor information. Their latest ‘non-censorship censorship’ tactic is to simply label it as ‘fake news’. And while that’s been going on for a while, Germany has stepped it up by putting it into law.
- Ron Paul: “The Neo-Conservatives Won”
It's “a victory for neo-conservatives” is how Ron Paul described the US strike on Syria, saying that he does not expect peace talks to resume any time soon. Speaking to RT, Ron Paul said that there is no proof of Damascus’ guilt that could trigger such a rash and violent response from the US. “I don't think the evidence is there, at least it hasn’t been presented, and they need a so-called excuse, they worked real hard, our government and their coalition.” This is not the first time something like this has happened in Syria or elsewhere, Paul said, but now it is convenient to pay attention and react immediately.
- Millions of Google Android Phones Actively Spying On Their Users Privacy
The question of the recent decades has been how much of our liberty can we and should we give up in the name of security. And while that question continues to persist, the new question of the modern age is how much privacy can we and should we give up in the name of convenience? We have apps that make life infinitely easier and more convenient, but with each app we use we give them some of our personal data. And while most of us think we can control what data each app gets, new research shows we might be gravely mistaken.
- The Spoils of War: Trump Lavished With Media and Bipartisan Praise For Bombing Syria
IN EVERY TYPE of government, nothing unites people behind the leader more quickly, reflexively or reliably than war. Donald Trump now sees how true that is, as the same establishment leaders in U.S. politics and media who have spent months denouncing him as a mentally unstable and inept authoritarian and unprecedented threat to democracy are standing and applauding him as he launches bombs at Syrian government targets. Trump, on Thursday night, ordered an attack that the Pentagon said included the launching of 59 Tomahawk missiles which “targeted aircraft, hardened aircraft shelters, petroleum and logistical storage, ammunition supply bunkers, air defense systems, and radars.” The governor of Homs, the Syrian province where the attack occurred, said early this morning that the bombs killed seven civilians and wounded nine.
- Germany RIP
Who would have imagined that the once great German nation would be ruled by Washington? It is extraordinary, but that is what has happened. Merkel, Washington’s whore, has agreed to fill up Germany with the refugees from Washington’s 16 years of illegal wars against Muslims in North Africa and the Middle East. These are wars that Merkel’s corrupt government enabled. The German people themselves are not pleased with this result, but their rising voice is being throttled by Merkel legislation ordered by Washington that defines opposition to accommodating Washington’s war refugees as “hate speach.” Washington’s whore and the whore’s subservient German cabinet want to impose fines of $53 million dollars on Facebook, Twitter, and other social media platforms if they permit complaints about Germany being overrun by Muslims. Those who complain, that is, those who use Germany’s guaranteed free speech, are defined as hate criminals or purveyors of fake news.
- The Imperial War Machine Marches Forward Under Donald Trump
Given Trump’s statements on Syria this morning, I’m moving from “becoming concerned,” to nearly convinced that Donald Trump will not only expand America’s idiotic, ongoing wars, but at the same time, start some new ones. This chemical attack just happened, how does he know the Assad regime did this? Is it because the same deep state people who have been trying to sabotage him sine day one told him so? Is he that stupid? Does it even make sense considering things were going pretty well for Assad in the conflict before this attack? No, it doesn’t, and many people are starting to ask these questions.
- Trump Has Surrendered. Will Putin Be The Next To Surrender?
Washington has reopened the conflict with a Tomahawk missile attack on Syrian Air Force Bases. The Russian/Syrian air defense systems did not prevent the attack. The Washington Establishment has reasserted control. First Flynn and now Bannon. All that are left in the Trump administration are the Zionists and the crazed generals who want war with Russia, China, Iran, Syria, and North Korea. There is no one in the White House to stop them. Kiss good-bye normalized relations with Russia.
- Quick Look At How The U.S. Attack On Syria Will Really Impact Markets In Coming Days, Plus Today’s Other Big Surprise…
Here is a quick look at how the U.S. attack on Syria will really impact markets in coming days, plus today’s other big surprise. But first, a look at that jobs report. Here is what Peter Boockvar wrote today as the world awaits the next round of monetary madness: March payrolls grew by just 98k, almost half the estimate of up 180k and the two prior months were revised down by 38k. Of this, the private sector added just 89k jobs vs the estimate of up 170k. In contrast, the household survey said 472k new jobs were created and because the size of the labor force grew by 145k, the U3 unemployment rate fell to 4.5% from 4.7%, the lowest since May 2007 and is just one tenth from matching the low in the mid 2000’s expansion…
- #NoWarInSyria: If You Don’t Want World War III In The Middle East You Need To Let Your Voice Be Heard NOW
We are closer to the start of World War III than we have been in decades. In part 3 of this series of articles, I discussed the fact that President Trump’s team was preparing a “military response” in Syria and that a “coalition” is being formed to remove Syrian President Bashar al-Assad from power. Well, as I am writing this article the missiles have started flying. Cruise missiles from a U.S. Navy vessel in the Mediterranean Sea have hit multiple targets inside Syria, and many fear that what we have just witnessed could be the beginning of a broader conflict. Trump should not have done this, because according to the U.S. Constitution the president needs the approval of Congress to go to war. Fortunately there are still a few members of Congress that still care about the Constitution and that are bold enough to point out this fact.
- Putin believes US attack on Syria violates international law – spokesman
President Putin “regards the strikes as aggression against a sovereign nation,” his spokesman Dmitry Peskov said, noting that the president believes the strikes were carried out “in violation of international law, and also under an invented pretext.”
- Trump Prepares ‘Military Response’ For Syria As Tillerson Works To Form A ‘Coalition’ To Remove Assad From Power
It makes me physically ill when I think that the U.S. could be on the verge of starting a disastrous war in the Middle East that will not benefit us in any way, shape or form. I can’t believe this is happening, and a lot of other people apparently can’t either. In fact, there were some that heavily criticized me when I suggested that Donald Trump had just committed to taking military action in Syria in part 1 and part 2 of this series of articles. But less than 24 hours later, the front page of USA Today was running this jarring headline: “Trump team developing military response in Syria”. It is interesting to note that this came on the 77th day of Trump’s presidency, and on Thursday it was also revealed that the Trump administration is working to put together an international coalition to remove Syrian President Bashar al-Assad from power.
- Trump Attacks Syria, Spying on Trump Worse than Watergate, Fed Dumping Debt
The “War Card” has been flipped over as President Trump orders an attack on Syria. The attack came as a response to the chemical weapons attack in Syria allegedly by the Assad regime. Not everyone is buying the story it was Assad that ordered a gas attack on his own people. Former Congressman Ron Paul thinks it was a false flag to get the U.S. to make a move against Assad. Now, the U.S. foreign policy in Syria has gone from destroying ISIS to removing Bashar al-Assad from power in Syria. Russia will surely weigh in. Will the Russians stand by and allow Assad to be attacked and removed by the U.S.?
- Debt Based System Running Out of Steam-Paul Craig Roberts
Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, sees trouble for the economy. Dr. Roberts explains, “This image of a strong stock market is based essentially on debt, borrowing and debt, money creation and debt. It’s a false signal that shows prosperity, and it’s not really there. . . . So, during a period of time when there has been no interest income on peoples’ savings in the form of bonds or CDs, there has also been no growth in Social Security income. So, the elderly, or the largest block of them, are hard pressed. The young come out of school with student debt and no good jobs. A large percentage can’t find sufficient employment to support an independent existence. They can’t possibly pay off the loans. So, wherever you look, you see a debt based system that’s running out of steam.”
- Trump Defunds The Agency Responsible For Implementing The Sick Population Control Agenda Of The United Nations
All over the world, the United Nations Population Fund has been promoting abortion and sterilization as ways to slow down the rate at which the population of the planet is growing. In some cases, the United Nations Population Fund has actually partnered with countries that have conducted forced abortions and involuntary sterilizations. In other words, those procedures were being done to women against their will. The United Nations Population Fund is the tip of the spear when it comes to implementing the UN’s twisted population control agenda, and so Donald Trump should be greatly congratulated for defunding them.
- In Anticipation Of The Coming American Apocalypse, 2 Lawmakers Plan To Create ‘Christian Survivalist Centers’ In Rural Areas
A couple of lawmakers from South Carolina want to establish a network of self-sufficient communities in their state in preparation for “societal collapse”. In the long-term, they hope to “train and equip one million neighborhood leaders” that will be able to establish “a fresh beginning for America” in the aftermath of the great crisis that is coming. State Representatives Josiah Magnuson and Jonathon Hill are both relatively young, they were both home-schooled, and each of their fathers are pastors. They are calling their dream the “Virtue Solution Project”, and they are examples of a new breed of American politician that recognizes that the system is failing and that we desperately need to return to the values that this nation was founded upon.
- Pastor Lindsey Williams introduces Pastor David Bowen – April 6, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter.
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Latest News From March 31, 2017 to April 6, 2017:
- Now That Trump’s ‘Red Line’ Has Been Crossed, Will He Turn Damascus Into A ‘Ruinous Heap’?
Will a false flag chemical attack in Syria’s Idlib province be the trigger that causes World War 3 to erupt in the Middle East? In Part I of this series, I discussed how previous chemical attacks that were blamed on the Assad regime actually turned out to be false flag attacks conducted by Syrian rebels that were absolutely desperate to draw the United States into the Syrian civil war on their side. And considering the fact that the Syrian rebels have been consistently losing territory in recent months, they are now more desperate than ever. So even though it didn’t work before, they probably figured that a false flag chemical attack was worth one more try, and so far the Trump administration appears to be buying it hook, line and sinker. Trump has called the attack a “terrible affront to humanity”, and he is placing all of the blame on the shoulders of the Assad regime. But now that Trump has committed the U.S. to take military action in Syria, what is that actually going to look like?
- Donald Trump Has Just Committed The United States To A Disastrous War In Syria
Rumors of war are percolating in Washington D.C., and if the Trump administration is not extremely careful it may find itself fighting several disastrous wars simultaneously. Just one day after threatening North Korea with war, Donald Trump has committed to taking military action against the Assad regime in Syria. Trump is blaming the chemical attack in Syria’s Idlib province on Tuesday on the Syrian government, and he is pledging that the United States will not just sit by and do nothing in response. Unfortunately for all of us, military contingents from Russia, Iran and Hezbollah are mixed in among the Syrian forces, and so any strike on the Syrian military could potentially spark World War 3.
- The Next Subprime Crisis Is Here: 12 Signs That A Day Of Reckoning Has Arrived For The U.S. Auto Industry
In 2008, subprime mortgages almost single-handedly took down the entire financial system, and now a new subprime crisis is here. In recent years, the auto industry has been able to boost sales by aggressively pushing people into auto loans that they cannot afford. In particular, auto loans made to consumers with subprime credit have been accounting for an increasingly larger percentage of the market. Unfortunately, when you make loans to people that should not be getting them, eventually a lot of those loans are going to start to go bad, and that is precisely what is happening now. Meanwhile, automakers and dealers are starting to panic as sales have begun to fall and used car prices have started to crash. If you work in the auto industry, you might remember how horrible the last recession was, and this new downturn could eventually turn out to be even worse.
- September 6, 1984: Ron Paul Warns of Surveillance State
1984 … A dystopian novel that ended up being an instruction guide for government. Back in 1984, Ron Paul was warning America of the “disgusting” surveillance that was emerging in “a professed free society.”
- China plans to build new city nearly three times the size of New York
A hitherto anonymous region near China’s smog-choked capital has been overrun by house buyers after Beijing unveiled “historic” plans to build a new city there in a bid to slash pollution and congestion. Plans for the Xiongan New Area, a special economic zone that authorities say will eventually cover an area nearly three times that of New York, were announced by the Communist party’s top leaders on Saturday with a flurry of government propaganda. In a joint statement two of China’s most powerful political bodies, the central committee and state council, described the new city, which will straddle three counties about 100km southwest of Beijing, as “a strategy crucial for a millennium to come”.
- How Chicago's Largest Pension May Run Out Of Cash In As Little As 4 Years
Chicago's pension funds, along with several other large public pensions around the country, are in serious trouble (we recently discussed the destruction awaiting our financial markets here: “Are Collapsing Pensions “About To Bring Hell To America”?”). The problem is that the pending doom surrounding these massive public pension obligations often get clouded over by complicated actuarial math with a plan's funded status heavily influenced by discount rates applied to future liability streams. Take Chicago's largest pension fund, the Municipal Employees Annuity and Benefit Fund of Chicago (MEABF), as an example. Most people focus on a funds ‘net funded status', which for the MEABF is a paltry 20.3%. But the problem with focusing on ‘funded status' is that it can be easily manipulated by pension administrators who get to simply pick the rate at which they discount future liabilities out of thin air.
- Prepare For “Manias, Panics And Crashes”: An Ominous Warning From Bank Of America
Bank of America's Michael Hartnett is back with another controversial note overnight, reminding readers that “it ain't a normal cycle” for one overarching reason: central banks. As Hartnett explains, the catalyst for bull in equity and credit markets since 2009 was the “revolutionary monetary policy of central banks” who, since Lehman, “have cut rates 679 times and bought $14.2tn of financial assets.” And, once again, he warns that this central bank “liquidity supernova” is coming to an end, as is “the period of excess returns in equities and corporate bonds, as is the period of suppressed volatility.”
- Moscow And Beijing Join Forces To Bypass US Dollar In Global Markets, Shift To Gold Trade
The Russian central bank opened its first overseas office in Beijing on March 14, marking a step forward in forging a Beijing-Moscow alliance to bypass the US dollar in the global monetary system, and to phase-in a gold-backed standard of trade. According to the South China Morning Post the new office was part of agreements made between the two neighbours “to seek stronger economic ties” since the West brought in sanctions against Russia over the Ukraine crisis and the oil-price slump hit the Russian economy. According to Dmitry Skobelkin, the deputy governor of the Central Bank of Russia, the opening of a Beijing representative office by the Central Bank of Russia was a “very timely” move to aid specific cooperation, including bond issuance, anti-money laundering and anti-terrorism measures between China and Russia.
- Connecticut Set To Become First State To Allow Deadly Police Drones
Connecticut could become the first US state to allow police to use drones equipped with deadly weapons if a bill opposed by civil libertarians becomes law. The bill, which was approved overwhelmingly by the state legislature's judiciary committee on Wednesday, would ban so-called weaponized drones in the state but exempts police and other agencies involved in law enforcement, the AP reported. The legislation was introduced as a complete ban on weaponized drones but just before the committee vote it was amended to exclude police from the restriction. Connecticut Governor Dannel Malloy, a Democrat, was reviewing the proposal, “however in previous years he has not supported this concept,” spokesman Chris Collibee wrote in an email.
- Auto Industry Resorts To Biggest Incentives Ever To Slow Decline In Sales
The Last time automakers tried this was in 2009! In a few days, automakers are going to report their new vehicle deliveries for March. TrueCar, Kelley Blue Book, and LMC Automotive are predicting total vehicle sales slightly above the flat-line compared to March a year ago, though sales were down year-over-year in both January and February. TrueCar forecasts an increase of 0.2% year-over-year to 1.586 million new cars and light trucks, with retail deliveries (excluding fleet sales) growing 1% to 1.276 million units. J.D. Power and LMC Automotive said on Friday that they expect an increase of 1.9%, to 1.62 million units, with retails sales up 1%, boosted by record incentives.
- First Post-Brexit Tremors: Theresa May “Would Go To War” To Protect Gibraltar
The ink has yet to dry on Theresa May's Article 50 signature from last week which officially started the UK's 2-year long divorce from the EU, and already Europe has been traumatized by comments from former Conservative leader Michael Howard, who suggested that Theresa May is be prepared to go to war to protect Gibraltar as Margaret Thatcher once did for the Falklands, comments which according to the Guardian were “immediately criticized as inflammatory.” Howard told Sky News on Sunday that: “There is no question whatever that our Government will stand by Gibraltar… 35 years ago this week another woman Prime Minister sent a task force half way across the World to defend the freedom of another small group of British people against another Spanish-speaking country…. I am absolutely certain our current Prime Minister will show the same resolve in standing by the people of Gibraltar.”
- What Is America Going To Look Like When Stocks, Home Prices And Even Used Cars All Crash By At Least 50 Percent?
Have you ever thought about what comes after the bubble? In 2008 we got a short preview of what life will be like, but most Americans seem to have come to the conclusion that the last financial crisis was just a minor bump in the road toward endless economic prosperity. But of course the truth is that the ridiculously high debt-fueled standard of living that we are enjoying now is not sustainable, and after this bubble bursts it will be an extremely painful adjustment for our society. Since the last financial crisis, the U.S. national debt has nearly doubled, corporate debt has doubled, stock valuations have reached exceedingly ridiculous extremes, the student loan debt bubble has surpassed a trillion dollars, we are facing the largest unfunded pension crisis in U.S. history, and in many parts of the country (particularly the west coast) we are facing a housing bubble that is even worse than the one that burst in 2007 and 2008.
- Maybe The Recovery Wasn’t Real After All
For a while there it looked like the US and its main trading partners had finally achieved escape velocity. Growth was up, inflation was poking through the Fed’s 2% target, and most measures of consumer sentiment were bordering on euphoric. Then it all started to evaporate. Lackluster manufacturing and consumer spending reports sent the Atlanta Fed’s reading of Q1 GDP off a cliff to less than 1%.
- You Do Not Go To War With Your Own People
Donald Trump is making the exact same tragic mistake that other prominent leaders have made in the past. You never, ever, ever go to war with your own people. Yes, you may have some very serious disagreements with your own team sometimes, but you never go to war with them. When Trump openly declared war on the Freedom Caucus, he immediately lost the support of millions of conservatives. And now Trump is going to have a tremendously difficult time getting anything on his agenda through Congress, because without Freedom Caucus votes the Democrats will be able to block just about everything that Trump wants to do.
- Money Riots Coming in Next Financial Collapse
Financial expert and four time, best-selling book author James Rickards says there is no avoiding another economic collapse. Every time the economy suffers a setback, such as recently hitting a $20 trillion debt ceiling in the United States Congress, things get a little worse. Rickards explains, “The point of my books, ‘The Death of Money’ and my more recent book ‘The Road to Ruin,’ is that these are like snowflakes building up to cause an avalanche. The avalanche is the instability of the financial system as a whole. The concentrations of assets among the banks, the interconnectedness of the system, and almost a $1 quadrillion, not $1 trillion, $1 quadrillion, that’s a $1,000 trillion of notional value of derivatives, all these things are unstable. What does it take to cause that avalanche? What does it take to cause a loss of confidence in the system? These are major body blows. When you say the government will shut down or you say the government can’t borrow, the Congress is really playing with fire here. We are going through some very dangerous periods. I am not saying the system is going to collapse in the next 30 days. I am saying the system is very vulnerable to collapse, and it will collapse sooner than later. These are the kind of things that can cause it. . . . We are really playing with fire here.”
- The Ticking Time Bomb That Will Wipe Out Virtually Every Pension Fund In America
Are millions of Americans about to see the big, juicy pensions that they were counting on to fund their golden years go up in flames in the biggest financial disaster in U.S. history? When Bloomberg published an editorial entitled “Pension Crisis Too Big for Markets to Ignore“, it simply confirmed what a lot of people already knew to be true. Pension funds all over America are woefully underfunded, and they have been pouring mind boggling amounts of money into very risky investments such as Internet stocks and commercial mortgages. Just like with subprime mortgages in 2008, this is a crisis that everyone can see coming well in advance, and yet nothing is being done about it. On a day to day basis, Americans generally don’t think very much about pensions. Most of those that have been promised pensions simply have faith that they will be there when they need them. Unfortunately, the truth is that pension plans all over the country are severely underfunded, and this has already resulted in local fiascos such as the one that we just witnessed in Dallas.
- A Cyber-Gulf of Tonkin
The “cyber-security” firm that everyone is depending on to make the case for Russia’s alleged “hacking” of the 2016 presidential election, CrowdStrike, has just retracted a key component of its analysis – but the “mainstream” media continues to chug along, ignoring any facts that contradict their preferred narrative. As Voice of America – hardly an instrument of Russian propaganda! – reports: “U.S. cybersecurity firm CrowdStrike has revised and retracted statements it used to buttress claims of Russian hacking during last year’s American presidential election campaign. The shift followed a VOA report that the company misrepresented data published by an influential British think tank.” This retraction pulls the rug out from under CrowdStrike’s identification of the hacking group that supposedly broke into the Democratic National Committee’s server.
- High doses of vitamin C can help treat cancer, scientists find
High doses of vitamin C injected into the blood stream could help treat cancer, new research from scientists suggests. Injecting patients with a dose 1,000 times higher than the recommended level could target tumour cells and make radiation and chemotherapy more effective. Scientists gave eleven brain cancer sufferers regular dosages of vitamin C every week for nine months while receiving typical radiotherapy and chemotherapy. Tests showed the extra vitamin – usually found in oranges, green vegetables, broccoli and strawberries – made cancer cells more susceptible to treatment.
- The Root Cause of Health Care Dysfunction
Largely absent from the vigorous debate over reforming the nation’s health care laws is the understanding that simply being covered by health insurance does not reduce health care costs. Before the Affordable Care Act (ACA) passed in March 2010, President Obama repeatedly promised that the typical family’s health premiums would go down by (sometimes “up to” but frequently “on average”) $2,500. That decline did not occur because the ACA strengthened the control that insurance companies—as opposed to patients—have over health care spending. In fact, Americans’ increasing dependence on health insurance over the last seven decades has been a major contributor to exploding health costs. It’s a fundamental economic truth that too much health insurance actually increases costs. That is why other types of insurance—think of car accidents or warehouse fires—only cover catastrophic costs. According to my new study published by the Mercatus Center, the full cost impact of our health insurance, provided by both government and private insurers, is staggering.
- 43 Facts About Love, Sex, Dating And Marriage That Are Almost Too Crazy To Believe
Is it more difficult for a woman to find a husband in America today compared to several decades ago? If a couple lives together before marriage, are they more likely or less likely to get divorced? Are married men more satisfied with their intimate relationships than single men are? You will get answers to these questions and many more in this article, and what the numbers actually show may surprise you. The truth is that there have been some seismic cultural shifts when it comes to romantic love, courtship, marriage and parenting in America. The way things worked for our parents and grandparents is not necessarily the way that things work in 2017. I expect that the statistics I am about to share with you will provoke some extremely strong reactions, and that is okay, because we need to have open and honest discussions about these things.
- Credit Suisse Offices Raided In Multiple Tax Probes: Gold Bars, Paintings, Jewelry Seized
Credit Suisse has confirmed that the Swiss bank, some of its employees and hundreds of account holders are the subjects of a major tax evasion probe launched in UK, France, Australia, Germany and the Netherlands, setting back Swiss attempts to clean up its image as a haven for tax evaders. According to Bloomberg, Dutch investigators seized jewellery, paintings and even gold bars as part of a sweeping investigation into tax evasion and money laundering in the Netherlands. They added that the sums involved amounted to “many millions” of lost tax revenue.
- Here’s Why Italy’s Banking Crisis Has Gone Off The Radar
For a country that is on the brink of a gargantuan public bailout of its toxic-loan riddled banking sector, or failing that, a full-blown financial crisis that could bring down the European financial system, things are eerily quiet in Italy these days. It’s almost as if the more serious the crisis gets, the less we hear about it — otherwise, investors and voters might get spooked. And elections are coming up. But an article published in the financial section of Italian daily Il Sole lays out just how serious the situation has become. According to new research by Italian investment bank Mediobanca, 114 of the close to 500 banks in Italy have “Texas Ratios” of over 100%. The Texas Ratio, or TR, is calculated by dividing the total value of a bank’s non-performing loans by its tangible book value plus reserves — or as American money manager Steve Eisman put it, “all the bad stuff divided by the money you have to pay for all the bad stuff.”
- Fewer Than 1 Percent Of Papers in Scientific Journals Follow Scientific Method
Fewer than 1 percent of papers published in scientific journals follow the scientific method, according to research by Wharton School professor and forecasting expert J. Scott Armstrong. Professor Armstrong, who co-founded the peer-reviewed Journal of Forecasting in 1982 and the International Journal of Forecasting in 1985, made the claim in a presentation about what he considers to be “alarmism” from forecasters over man-made climate change. “We also go through journals and rate how well they conform to the scientific method. I used to think that maybe 10 percent of papers in my field … were maybe useful. Now it looks like maybe, one tenth of one percent follow the scientific method” said Armstrong in his presentation, which can be watched in full below. “People just don’t do it.”
- Why Foreign Robots Are The Real U.S. Job Killer
Over the past several months President Trump has called out pretty much every major auto OEM for their efforts to move low-skilled assembly jobs to Mexico. But absent new tariffs, it's not terribly surprising to most people that American companies would seek to move low-skilled, labor-intensive jobs to lower cost labor markets…the math is pretty simple. But what is somewhat surprising is how poorly the U.S. is performing versus international competition in the development of advanced manufacturing robotics. As the Wall Street Journal points out this morning, when it comes to automating a manufacturing floor, buying robotics ‘Made in America' isn't even an option.
- Visualizing NAFTA's Mixed Track Record Since 1994
On January 1, 1994, the North American Free Trade Agreement (NAFTA) officially came into effect, virtually eliminating all tariffs and trade restrictions between the United States, Canada, and Mexico. Fast forward 20 years, and NAFTA is a hot-button issue again. Donald Trump has said he is working on “renegotiating” the agreement, and many Americans are sympathetic to this course of action. However, coming to a decisive viewpoint on NAFTA’s success or failure can be difficult to achieve. Over two decades, the economic and political landscape has changed. China has risen and created a surplus of cheap labor, technology has changed massively, and central banks have kept the spigots on with QE and ultra-low interest rates. Deciphering what results have been the direct cause of NAFTA – and what is simply the result of a fast-changing world – is not quite straightforward.
- Obamacare ‘Explosion' Could Come On May 22nd, Here's Why
After a stunning healthcare defeat last week, delivered at the hands of his own party no less, Trump took to twitter to predict the imminent ‘explosion' of Obamacare. As it turns out, that ‘explosion' could come faster than anyone really expects as legislators and health insurers have to make several critical decisions about the 2018 plan year over the next 2 months which could seal Obamacare's fate. As the Atlanta Journal Constitution points out today, the Trump administration has until May 22nd to decide whether they will continue to pursue the Obama administration's appeal to provide subsidies to insurers who participate in the federal exchanges.
- Surveillance on Trump Backfires, Russian Collusion False Narrative, Are Markets Topping
The pile of felonies against people in the Deep State that illegally released classified information, for the purpose of embarrassing and destroying the incoming Trump Administration, keep stacking up. This crime is orders of magnitude worse that Watergate. The White House invited leaders of Congress to see documents from whistleblowers that point to improper handling of Intel surrounding the Trump team. Meanwhile, the Democrats and their allies in the mainstream media (MSM) continue to push a false narrative of Trump and his team colluding with the Russians without one single piece of evidence of wrongdoing after 8 months of an FBI investigation. The leader of Russia, Vladimir Putin, said this week that Russian interference in the 2016 Presidential Election is “fictional, illusionary, provocations and lies . . . used for domestic political agendas.”
- Is George Soros Behind This Plot To Topple Trump?
The mainstream media hates him. Hollywood hates him. The “Intellectual Yet Idiot” academia class hates him. Most critically, the CIA hates him. So does the rest of the Deep State, or the permanently entrenched “national security” bureaucracy. They did everything possible to stop Trump from taking office. None of it worked. I think the CIA hates Trump for a very simple reason: he’s threatening to take away their livelihood. Trump wants to make nice with Putin and the Russians. But countering the so-called “Russian threat” is how many thousands of Deep State bureaucrats make a living. These people feed off the trough of the $1 trillion-plus military/security budget. Playing nice with the Russians would kill their jobs—and end their way of life.
- WikiLeaks Reveals “Marble”: Proof CIA Disguises Their Hacks As Russian, Chinese, Arabic…
WikiLeaks’ latest Vault 7 release contains a batch of documents, named ‘Marble’, which detail CIA hacking tactics and how they can misdirect forensic investigators from attributing viruses, trojans and hacking attacks to their agency by inserted code fragments in foreign languages. The tool was in use as recently as 2016.
- The Last Two Times After The Government Reported Data Like This, Stocks Crashed
Wall Street claims surge in stocks is based on rising corporate earnings. So, let’s see. The Commerce Department’s Bureau of Economic Analysis released its third estimate of fourth quarter 2016 GDP and corporate profits today. This second revision of its first estimate of January 27 contains more data and is considered a more accurate approximation of what happened in the vast, devilishly hard-to-quantify US economy. In terms of GDP, the fourth quarter was revised up slightly, but there were adjustments for prior quarters, and overall GDP growth for the year 2016 remained at a miserably low 1.6%. We’ve come to call this the “stall speed.” It’s difficult for the US economy to stay aloft at this slow speed. As Q4 gutted any hopes for a strong finish, GDP growth in 2016 matched the worst year since the Great Recession. And corporate profits, despite a stock market that has been surging for years, are even worse. A lot worse. They’ve declined for years. In fact, they declined for years during the prior two stock market bubbles, the dotcom bubble and the pre-Financial-Crisis bubble. Both ended in crashes.
- Obama's rule changes opened door for NSA intercepts of Americans to reach political hands
As his presidency drew to a close, Barack Obama’s top aides routinely reviewed intelligence reports gleaned from the National Security Agency’s incidental intercepts of Americans abroad, taking advantage of rules their boss relaxed starting in 2011 to help the government better fight terrorism, espionage by foreign enemies and hacking threats, Circa has learned.
- Trump May Be Right: The ‘Five Eyes' Allies Do Spy On One Another
In a rare public announcement, Britain’s signals intelligence agency, the Government Communications Headquarters (GCHQ), issued a rare public statement concerning a charge by an American former judge that it conducted electronic surveillance of president-elect Donald Trump after his upset victory on November 8, 2016. GCHQ stated: “Recent allegations made by media commentator Judge Andrew Napolitano about GCHQ being asked to conduct ‘wiretapping’ against the then president-elect are nonsense. They are utterly ridiculous and should be ignored”. Its public announcement belied the fact that GCHQ and its four ‘Five Eyes' partners have spied on each other’s citizens as a legal ‘work around' to their national laws designed to prevent such domestic eavesdropping on citizens by their respective agencies.
- Margin Debt Hits New Record High But Analysts Say “Don’t Worry”
The Wall Street Journal reports Margin Debt Hit an All-Time High in February. Given that Margin debt has a history of peaking right before financial collapses this seems like a warning to me but analysts say it’s different this time. ‘Margin debt climbed to a record high in February, a fresh sign of bullishness for flummoxed investors trying to navigate the political and economic crosscurrents driving markets. The amount investors borrowed against their brokerage accounts climbed to $528.2 billion in February, according to the most recent data available from the New York Stock Exchange, released Wednesday. That is up 2.9% from $513.3 billion in January, which had been the first margin debt record in nearly two years. Before January, the previous record high for margin debt was $505 billion in the spring of 2015. Margin debt then started falling, months ahead of a summer swoon that sent major indexes down more than 10%.' Analysts Say Don’t Worry.
- Chinese Gold Miner Claims Discovery Of Largest Ever Gold Mine
Shandong Gold Group, China’s second biggest gold producer by output, announced on Tuesday that it has discovered deposits in eastern China containing an estimated 380 tons of gold reserves, which would represent the nation’s largest ever gold deposit. According to a Tuesday statement that cited the company on sdchina.com, the Xiling mine in Shandong province told local authorities it had found 382.58 tons of gold reserves and that the volume could reach more than 550 tons once exploration is completed in two years. According to local media reports, the Xiling gold seam in eastern China is more than 2,000 meters long and 67 meters wide; operating at full capacity, the mine would have a life of 40 years, according to the statement.
- Trump signs order dismantling Obama-era climate policies
President Donald Trump on Tuesday signed an order to undo Obama-era climate change regulations, keeping a campaign promise to support the coal industry and calling into question U.S. support for an international deal to fight global warming. Flanked by coal miners and coal company executives, Trump proclaimed his “Energy Independence” executive order at the headquarters of the Environmental Protection Agency. The move drew swift backlash from a coalition of 23 states and local governments, as well as environmental groups, which called the decree a threat to public health and vowed to fight it in court.
- Venezuela Supreme Court Grants Itself Legislative Powers
Venezuela's Supreme Court took over legislative powers Thursday from the opposition-majority National Assembly, a dramatic tightening of leftist President Nicolas Maduro and his allies' grip amid a devastating economic crisis. The opposition attacked what it called a “fraudulent court” packed with Maduro loyalists bent on keeping him in power in the South American oil giant, where a three-year recession has caused food shortages, riots and an epidemic of violent crime.
- This Is The 6-Page Letter Delivered From The UK To The EU Triggering Article 50: Full Text
Moments ago, the UK Prime Minister's office posted the 6-page letter that was delivered by the UK to the EU, triggering Article 50 and officially starting the 2 year Brexit process. In the letter, Theresa May proposes “bold and ambitious” Free Trade Agreement between the United Kingdom and says the agreement should cover important sectors, including financial services and network industries. Some of the key highlights from the letter, courtesy of Bloomberg: U.K. Seeks to Minimize Disruption in Brexit Talks, U.K. Seeks Technical Talks on Policy Details ASAP, U.K.'s May Wants to Avoid Return to Hard Irish Border, U.K. Seeks Implementation Periods to Ease Transition to Brexit, U.K. Seeks Free Trade Agreement That Includes Finance.
- One of the Most Important Scientists in the World: “Most Cancer Research is Largely a Fraud”
“Everyone should know that most cancer research is largely a fraud, and that the major cancer research organisations are derelict in their duties to the people who support them.” The above quote comes from Linus Pauling, Ph.D, and two time Nobel Prize winner in chemistry (1901-1994). He is considered one of the most important scientists in history. He is one of the founders of quantum chemistry and molecular biology, who was also a well known peace activist. He was invited to be in charge of the Chemistry division of the Manhattan Project, but refused. He has also done a lot of work on military applications, and has pretty much done and seen it all when it comes to the world of science. A quick Google search will suffice if you’d like to learn more about him.
- Westinghouse Bankruptcy Puts Fate Of Four U.S. Nuclear Reactors In Limbo
When Westinghouse Electric filed for Chapter 11 bankruptcy protection on Wednesday morning, few were surprised as the outcome was the only one which allowed the company's troubled, and near-insolvent Japanese parent, Toshiba, to continue operating, even if it meant the bankruptcy of the iconic company. Westinghouse was one of the originators of the nuclear age, building the world’s first commercial nuclear reactor 60 years ago. Its pressurized water reactor design is in 430 power plants and accounts for 10% of electricity generated in the world. However, few were prepared for the unexpected aftermath of this particular bankruptcy, which has set off a showdown between Toshiba and a major U.S. utility, has left the fate of four half-finished nuclear reactors and is threatening to drive a wedge between the US and Japanese governments over the fate of industries each considers vital.
- The Complete History of Monsanto, “The World’s Most Evil Corporation”
Of all the mega-corps running amok, Monsanto has consistently outperformed its rivals, earning the crown as “most evil corporation on Earth!” Not content to simply rest upon its throne of destruction, it remains focused on newer, more scientifically innovative ways to harm the planet and its people.
- Finally! The FDA Admits That Nearly Over 70% of U.S. Chickens Contain Cancer-Causing Arsenic
I don’t know about the rest of you, but lately my poultry purchases at my local market have become more and more of a ‘hit-and-miss’ situation, with more ‘misses’ if I’m being honest. As I bite into my homemade chicken nuggets or Coq au Vin (when I’m feeling fancy) I can’t help but feel that the chicken just tastes weird, stringy, just…funny. So a few days ago when I turned on the tube and saw the news headlines stating that the FDA has finally confirmed that chicken meat sold in the USA contains arsenic, my head, and stomach, nearly hit the roof. This cancer-causing toxic chemical, that in high doses could kill you, is actually being added to chicken feed on purpose, giving store-bought chicken the illusion of healthy coloring and plump appearance. Shockingly, this is the case with more than 70 percent of all U.S. chickens! That is just awful!
- EU could BREAK UP the US: Juncker in jaw-dropping threat to Trump over support for Brexit
EUROPEAN Union boss Jean-Claude Juncker issued a jaw-dropping threat to the United States, saying he could campaign to break up the country in revenge for Donald Trump’s supportive comments about Brexit. In an extraordinary speech the EU Commission president said he would push for Ohio and Texas to split from the rest of America if the Republican president does not change his tune and become more supportive of the EU. The remarks are diplomatic dynamite at a time when relations between Washington and Brussels are already strained over Europe’s meagre contributions to NATO and the US leader’s open preference for dealing with national governments.
- Gold Set to Soar to $1,500 as Inflation Makes a Comeback
Gold is poised to rally to levels last seen four years ago as rising inflation and negative real interest rates combine to boost demand, according to Incrementum AG, which says that the precious metal may be in the early stages of a bull market. Prices may climb to $1,400 to $1,500 an ounce this year, said Ronald-Peter Stoeferle, managing partner at the Liechtenstein-based company, which oversees 100 million Swiss francs ($101.5 million). Spot bullion — which was at $1,249 on Wednesday — last traded at $1,400 in September 2013.
- How Many Jobs Do Robots Destroy? Answers Emerge
How many jobs do robots – whether mechanical robots or software – destroy? Do these destroyed jobs get replaced by the Great American Economy with better jobs? That’s the big discussion these days. The answers have been soothing. Economists cite the Industrial Revolution. At the time, most humans replaced by machines found better paid, more productive, less back-breaking jobs. Productivity soared, and society overall, after some big dislocations, came out ahead. The same principle applies today, the soothsayers coo. But this isn’t the Industrial Revolution. These days, robots and algorithms are everywhere, replacing not just manufacturing jobs but all kinds jobs in air-conditioned offices that paid big salaries and fat bonuses.
- CNBC: China’s Secret Plan to Crush the U.S. Space Program
In a feature on Tuesday, CNBC explained how the Chinese government plans to overtake the US space program, as well as private companies such as SpaceX. “China’s breakneck economic expansion may be flagging, but the country’s ambitions in space show no signs of slowing down,” wrote CNBC. “Alongside ongoing efforts to rival NASA by placing robotic landers, and eventually astronauts, on the moon and Mars, China’s government is increasingly looking to its burgeoning space sector to rival U.S. companies like Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX, which is targeting March 30 for the latest launch of its Falcon 9 rocket.”
- Shock, Horror: ECB Not as “Independent” as it Claims – Report
The European Central Bank has found itself in the rare position of having to defend itself in the public arena following the release of a scathing report on its perceived lack of political independence. The report, published by anti-corruption watchdog Transparency International, argues that the institution has accrued new power and influence in the wake of the financial crisis but its code of conduct has not kept up with that newfound clout. It even suggests that the ECB should withdraw from the Eurozone’s Troika of creditors, precisely at a time that calls are rising for the creation of a European Monetary Fund.
- Look What Just Happened To The US National Debt In 68 Days Since Trump Was Elected
If one looks back at the U.S. stock markets reaction since the historic election that was held in November, it's difficult to find a comparable period of euphoria over the last couple of years that matches the one we’ve seen the last 60 days or so. With that said, even though optimism is always is a better recipe for success than than pessimism, many have lost touch with “realism,” and the end result has been anything but responsible planning on the part of most Americans. Most are too busy enjoying what many have referred to as “Trumphoria.” Make no mistake, a global economic crisis is coming, and it’s coming fast, but you have to give credit where credit is due, and this statistic about the U.S. national debt is nothing short of miraculous.
- 12 Signs That America Has Become A Politically-Correct Madhouse
What in the world has happened to the United States? We are rapidly getting to the point where political correctness is in danger of becoming our national religion. Of course most people would not even call it a “religion”, but for most Americans this unwritten set of rules shapes everything that they think, do and say. Many had been hoping that the spell of political correctness would be broken by the election of Donald Trump, but that obviously has not happened. The forces of political correctness still have a stranglehold on our education system, on all forms of entertainment, on our legal system, and on most of the politicians in both political parties.
- The World Is On The Edge Of A Financial Fukushima-Style Nightmare
Today an associate of former U.S. Treasury official, Dr. Paul Craig Roberts, just warned the world is now on the cusp of a financial Fukushima-style nightmare. Dave Kranzler: Several “black swans” are looming which could inflict a financial nuclear accident on the U.S. markets and financial system. I say “black swans” in quotes because a limited audience is aware of these issues – potentially catastrophic problems that are curiously ignored by the mainstream financial media and financial markets…
- If You Are Confused About Where Markets Are Headed From Here, Just Read This…
The major theme of our comments recently on the near-term direction of the stock market can best be summed up with one word – uncertainty. That’s what happens when the indicators we trust, and even the price action of the market itself, start sending mixed messages that make it difficult to provide the clear green light that everyone desires. I know I’m sure getting tired of writing about the confusion, and I’d wager everyone playing along at home is a bit exhausted from reading about it every day, but we unfortunately have to play the cards we are dealt and this has been a market trying to decide if it should fold or not.
- Pastor Lindsey Williams introduces Pastor David Bowen – March 30, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter.
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Latest News From March 24, 2017 to March 30, 2017:
- After Dramatic Obamacare Failure, Trump Now Faces A Looming Government Shutdown He May Not Be Able To Prevent
If you thought that the Obamacare debacle was bad, just wait until you see what happens next. The continuing resolution that is currently funding the government expires on April 28th, and if a new funding agreement is not reached prior to that time, there will be a government shutdown like we witnessed in 2013 starting on April 29th. Unfortunately, as I will explain below, if a government shutdown happens it may go for a lot longer than just a couple of weeks this time around. April 28th may sound like it is quite some time away, but because the congressional calendar has so many “holes” in it, there is actually not very much time for Congress to act. If you can believe it, there are only 12 “legislative days” between now and April 28th, and if something is not done on one of those 12 days the government will shut down on April 29th.
- Broken America
Is this the beginning of the end for the United States of America? It has been said that a house divided against itself will surely fall, and today we live in a shattered union. In all my years, I have never seen so much strife, discord, bitterness and resentment in this country. Everyone can see what is happening, but nobody can seem to stop it. Politically, you have got tens of millions of people trying to pull America one way, and you have got tens of millions of people trying to pull it the exact opposite way. As I discussed in a previous article, the term “civil war” is now being thrown around by some pundits even though nobody has started shooting yet. We are a deeply divided and broken nation, and if we don’t find a way to fix things America will not survive.
- Obamacare is the Reason for Anemic Growth
Analyst and entrepreneur Karl Denninger predicted years ago that Obamacare would “kill the economy” and “eventually implode.” Today, the first quarter GDP came in at just .9%, and Denninger contends Obamacare is part of the reason the economy is so anemic. Denninger says, “Since the crash in 2008, we’ve had 2% GDP expansion roughly on an average basis, and you are trying to expand the growth of one program in the government by 8.5%, and that’s not going to work. This is the problem you have. What Obamacare has done has caused the 2% expansion. . . . So, what has happened here is we have taken this program and crammed these costs into the economy on a mandated basis, and the result is the productivity expansion has gone into the toilet.”
- Ex-cyber security chief says Government is ‘using' Westminster attack to grab unnecessary spying powers
The Ministry of Defence’s former cyber security chief has accused the Government of trying to “use” the devastating Westminster attack to grab unnecessary and intrusive surveillance powers. Major General Jonathan Shaw said ministers were attempting to “use the moment” to push for security services having more control, despite there being only a weak case for it. Home Secretary Amber Rudd has turned up the heat on internet firms, saying it is “completely unacceptable” that authorities cannot look at encrypted social media messages of attacker Khalid Masood, but her words come as debate continues over allowing spy agencies further intrusive powers – only last year Parliament granted them sweeping new capabilities.
- Congress just cleared the way for internet providers to sell your web browsing history
Internet providers now just need a signature from President Trump before they’re free to take, share, and even sell your web browsing history without your permission. The House of Representatives passed a resolution today overturning an Obama-era FCC rule that required internet providers to get customers’ permission before sharing their browsing history with other companies. The rules also required internet providers to protect that data from hackers and inform customers of any breaches. The resolution was first passed by the Senate last week and now heads to the president, who’s expected to sign it. At that point, there’ll only be a vague baseline of privacy rules governing internet providers and some promises from them not to misbehave.
- The Unaccountable Military Industrial Complex Is Destroying America and the Rest Of The World Too
On Jan. 17, 1961, US President Eisenhower gave the nation a dire warning about what he described as a threat to democratic government. He called it the military-industrial complex. He warned, “In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists, and will persist.”
- Russia Plans 2017-2019 Budget Based On $40 Barrel
Russia is budgeting its federal spending to expectations that oil prices will hover around $40 a barrel for the next several years, according to a new report by Bloomberg. Such preparations go against predictions by international oil industry experts that barrel prices will rise to $60 and remain there over the long term. These forecasts are based on expectations that the global oil supply glut will reverse over the next couple of years, bringing prices up to a new normal, which will still stand far lower than the $100+ levels seen before the market crash occurred in late 2014.
- Australia, China to protect globalization
In a testament of growing bilateral ties, Australia and China pledged on Thursday to safeguard globalization and free trade and do away with barriers which might be established as protectionist policies. “We believe that to resolve trade imbalance we need to continue to expand trade, that is the solution. We cannot close our doors, that is not the solution,” Chinese Premier Li Keqiang said during his visit to the Australian capital Canberra. “Free trade can only thrive in a peaceful and stable environment, both our countries know this well,” Prime Minister Malcolm Turnbull said. While this is the first visit by a Chinese Premier to Australia in more than a decade, it comes on the heels of strengthened trade ties between the two countries.
- Health-Care Industry Debt Turns into “Systemic Recession Risk”
Sector booms and busts have historically been driven by speculation and over-borrowing, often triggering regional or even national recessions. Textbook examples include the 2014 Energy and 2008 Financial sector collapse. In both of these instances, fallacies such as perpetual $100+ oil and ever rising home prices drove rampant speculation, overinvestment, and unsustainable debt buildup.
- More About The Great Collapse In Retail
Retail Revolutions Are Neither Rare Nor Permanent – Sears, Roebuck and company recently issued a very strong caution about its ability to survive while moving forward. That instantly brought to memory the near dominance in retailing Sears had once attained. The fascinating story of the rise and reverse of Sears is wonderfully outlined as part of some recent presentations by my good friend John Mauldin.
- Global Warming Is Real Say the Academies of Sciences of All of the Major Countries, But a Handful of my Readers Know Better
I am fortunate in having readers who look after me. Some have offered me refuge in their countries and their homes from what they expect otherwise will inevitably be the midnight knock on my door. Others correct my mistakes from typos to content. As I have never considered myself infallible, I carefully read what they have to say. Usually those who want to straighten me out on a subject are polite and respectful. However, among those corrections brought in by my reporting on the dangers implied by the warming of the poles and melting of the ice were a few not merely ignorant and uninformed, but also condescending and rude. One even accused me of selling out to the climate change hoax in order to buy my way off the lists of Russian agents and fake news purveyors.
- Trump is America’s Last Chance
Economist John Williams says President Trump has to do something fast and big to turn the faltering U.S. economy around. Williams explains, “You are seeing the economy slow down. Some people are recognizing that. The Fed’s statement a week or two ago . . . many analysts consider that dovish. The Fed knows what’s going on here. They are trying to get rates up a little, but they have a circumstance that they are not out of the woods with the banks. What they are hoping for is maybe the Trump Administration is going to bail them out and stimulate the economy.”
- One Mother’s Chilling Close Encounter With A Team Of Child Abductors That People Can’t Stop Talking About
After reading this article, you will never be careless with your child in a public place ever again. There really are predators out there that make a lot of money abducting children. Some of the children that are abducted are abused, tortured or even killed inside the United States, but many others are quickly sent to the nearest port, shipped overseas, and ultimately used for some of the most horrific purposes that you can possibly imagine. So if your child is kidnapped by professional traffickers, there is a chance that your precious little one could end up on the other side of the planet.
- Thousands Of Americans Are Fleeing The Big Cities In Preparation For The Coming American Apocalypse
Why are so many people suddenly moving away from major U.S. cities? Recently, I wrote about the mass exodus that is happening out of the state of California, but the truth is that what is happening there is just part of a national phenomenon. The populations of some of our largest cities are steadily shrinking, and many experts are completely mystified by the seismic demographic shifts that we are now witnessing. Of course there are a whole host of reasons why people would want to move away from huge cities such as Chicago, Detroit, Baltimore and Cleveland. For some families, it simply comes down to wanting a better life for their children. But as you will see below, there are others that believe that things in this country are about to take an apocalyptic turn, and the big cities will not be a place that you want to be when economic collapse, rioting, looting, civil unrest and crime are all spiraling out of control.
- UK set to begin ‘momentous journey' to life outside EU
Britain will take the first step on its “momentous journey” to a future outside the European Union when Theresa May launches divorce proceedings that will bring to an end a relationship of more than 40 years. The Prime Minister has signed the letter that starts the formal exit process and the historic document will be hand-delivered by a senior diplomat to EU chiefs. It will mark the start of complex and contentious negotiations that put the UK on course to break its ties with the Brussels club by the end of March 2019.
- Chile pensions protest draws tens of thousands
Tens of thousands of people in Chile have taken part in demonstrations against the country's controversial privatised pension system. Demonstrators called on the socialist government of Michelle Bachelet to scrap the the system, which is managed by private funds. Critics say the system benefits the rich but leaves poorer Chileans with a pension below the minimum wage.
- Europe Unveils New Gun Laws: “Like Putting A Band-Aid On A Bullet Wound”
The EU has almost regulated firearms enough to keep people completely safe from terrorism. Just one more law, and they should be able to usher Europe into a new age of utopian peace. What happened: The European Parliament passed a bill this month which closes loopholes in regards to “acoustic” and “deactivated” prop guns to make them irreversibly unusable. If the law passes the Council of Ministers, it will also apply stricter regulations on semi-autos with high capacity magazines. Included in the bill are obligations of member states to monitor the issuance of firearms licenses, and share that information across the EU. Countries in the EU will have 30 months to implement the required procedures for tracking firearms.
- “We've Reached Our Limits” – Greece Begins Blocking Refugees
Greece will cease taking back refugees under the controversial Dublin Regulation, as the country’s limited capacities to host people are already on the brink of collapse, the Greek migration minister announced in an interview. RT reports that as the European Commission pressures Athens to re-implement the Dublin Regulation – stipulating that refugees can be returned to the first EU state they arrived in – the Greek migration minister told Spiegel his country is not in a position to do so. The agreement was put on hold for Greece back in 2011 over problems in the country’s asylum system.
- Your Pension Will Be At The Center Of America's Next Financial Crisis
I’m not a fan of the “greed is good” mentality of Wall Street investment firms. But the next financial crisis that rocks America won’t be driven by bankers behaving badly. It will in fact be driven by pension funds that cannot pay out what they promised to retirees. According to one pension advocacy organization, nearly 1 million working and retired Americans are covered by pension plans at the risk of collapse. The looming pension crisis is not limited by geography or economic focus. These including former public employees, such as members of South Carolina’s government pension plan, which covers roughly 550,000 people — one out of nine state residents — and is a staggering $24.1 billion in the red. These include former blue collar workers such as roughly 100,000 coal miners who face serious cuts in pension payments and health coverage thanks to a nearly $6 billion shortfall in the plan for the United Mine Workers of America. And when the bill comes due, we will all be in very big trouble.
- America's March To Default
“May you live in interesting times,” says the ancient Chinese curse. No doubt about it, we live in interesting times. Hardly a day goes by that we’re not aghast and astounded by a series of grotesque caricatures of the world as at devolves towards vulgarity. Just this week, for instance, U.S. Representative Maxine Waters tweeted, “Get ready for impeachment.” Well, Maxine Waters is obviously right – impeaching the president is an urgent task of the utmost importance. As everybody knows, he is best friends with Vladimir Putin, the shirtless barbarian who rules the Evil Russian Empire (they were seen drinking kompromat together in Moscow, a vile Russian liquor that reportedly tastes a bit like urine. Senator McCain has the details on that story). And as Maxine Waters has just disclosed, Putin’s armies are recently advancing into Korea! We cannot let this stand, or he’ll invade Kekistan next (note that he already controls Limpopo and Gabon). Who knows where it will end?
- Pensions mistakes of the past must be avoided, says John Cridland
Mistakes of the past must be avoided when telling people of any rise in their state pension age, the author of a major review has told the government. John Cridland published the independent review on Thursday, proposing that those under the age of 45 may have to work a year longer, to 68. He told BBC Radio 4's Money Box that there should be no repeat of the issues currently facing women in their 50s. Many say they were not told directly of two rises in their state pension age.
- Over-Regulation Has Criminalized The Practice Of Medicine
This criminalization of everyday life is not just insanely costly and insanely counter-productive–it's insanely punitive. The average person has little exposure to the criminalization of everyday enterprise in America via over-regulation and outsized penalties for even accidental violations of rules and regulations. One field that continues to be burdened with excessive/counter-productive regulations and outsized penalties is the practice of medicine.
- Goldman Asks “Have We Reached Peak Cash?”
In several major economies it's crunch time for the future of cash. Goldman Sachs notes that this is largely policy-driven: tangible steps are being taken to wean economies off cash (e.g. India, Europe); but adds that, at the same time consumer expectations around convenience are rising and enabling technologies have proliferated in the shape of contactless cards, mobile wallets, cryptocurrencies and more. So, they ask, does the decline in cash payments imply the demise of cash? Not necessarily.
- UK's ‘largest undeveloped oil field’ discovered off Scottish coast
Shares in U.K.-listed Hurricane Energy gushed higher Monday after the firm said it had found the “largest undeveloped (oil) discovery on the U.K. continental shelf”. Hurricane Energy said in a market release Monday that the firm has located a kilometer-deep oil column which is believed to connect to an existing field. The discovery is near the Shetland Islands, off the north coast of Scotland.
- Russia Readies Back-Up System For Potential “Split With International Banking System”
The grand order of things could be undergoing some major overhauls. To put it more bluntly, a war to reset the global financial order is about to be unleashed. Preparations inside Russia are being made in case the ultimate banking sanctions are placed on them, cutting off commerce inside the all-encompassing Worldwide Interbank Financial Telecomm SWIFT system – which runs credit, debt, and banking card transactions across a real time global network. As it would be doled out by the banking elites, the price for misbehavior at the Kremlin could be ostracization from this global commerce vehicle. But that isn’t the end of the story… Putin is readying his people to divorce from the international banking system altogether, and start over with a nationalistic platform, backed by thousands of tons of gold, and growing alliances with Europe, China and the BRICS nations, the Middle East and several emerging powers.
- Watch These Geopolitical Flashpoints Carefully
Anyone who has been involved in alternative geopolitical and economic analysis for a decent length of time understands that the establishment power structure thrives according to its ability to either exploit natural crises, or to engineer fabricated crises. This is not that hard to comprehend, but for some reason there are a lot of people out there who simply assume that global sea-change events just happen “at random,” that the elites are stupid or oblivious, and that all outcomes are a matter of random chance rather than being directed or manipulated. I call these people “intellectual idiots,” because they believe they are applying logic to every scenario but they are sabotaged by an inherent bias which causes them to deny the potential for “conspiracy.”
- McCain: “The New World Order Is Under Enormous Strain”
It was a bumper day for John McCain when on Friday Donald Trump's Republican nemesis gloated as Trump's “art of the deal” collapsed in the last minute, after the President and Ryan-led effort to repeal Obamacare suffered what appears to be a terminal setback. In the wake of Trump's misfortune, McCain renewed his calls on Friday for a return to a legacy neocon status quo, when speaking at the Brussels forum, said that the world “cries out for American and European leadership” through the EU and Nato, and said that the EU and the US needed to develop “more cooperation, more connectivity”.
- Canada Passes ‘Blasphemy' Bill To Silence Critics Of Islam
Despite polls showing that 71% of Canadians would not have voted for the measure, Canada's Parliament, with the strong backing of Justin Trudeau's Liberal government, passed a motion this week 201 to 91 that critics say singles out Islam for special protection. Tabled by Muslim liberal MP Iqra Khalid, M-103 urges the federal government to “condemn Islamophobia” and to “develop a whole-of-government approach to reducing or eliminating systemic racism and religious discrimination including Islamophobia.” The term “Islamophobia” is nowhere defined in the motion.
- China Bans Buying Of Hong Kong Property On Credit Cards
In China's latest effort to control capital flight, authorities have banned Chinese citizens from buying property in Hong Kong using their credit cards.The use of Chinese credit cards to pay for a portion of property transactions is widespread in Hong Kong. Willy Liu, chief executive of local real estate agent Ricacorp, said 15-20 per cent of new property buyers were mainland Chinese. The majority use UnionPay cards to pay for 5 per cent of the home price as a mortgage deposit in Hong Kong. Most of those transactions are worth at least HK$500,000 ($64,371), Mr Liu said, surpassing the $50,000 annual limit for personal foreign exchange imposed by China’s regulators.
- What A Westinghouse Bankruptcy Could Mean For U.S. Utilities
International news services now report that Japan’s Toshiba Corporation (9502.T) is preparing to make a chapter 11 bankruptcy filing for its Westinghouse Electric subsidiary as soon as this Monday, March 27. For most of our readers this news evokes little surprise. This is merely another chapter of a slow moving financial and accounting train wreck involving nuclear design and construction firm Westinghouse and its troubled Japanese parent, Toshiba. But like an old, leaky garbage scow there is much to clean up in its wake.
- Spying Lying Exposed-Trump Proven Right, Economy Tanking, North Korea Update
Donald Trump was mocked by the mainstream media (MSM) for saying Obama “wiretapped” or spied on Trump and his top advisors. This week, Trump was proven 100% correct when information came out that President-elect Trump and his transition team were, in fact, wrapped up in government surveillance. Information was illegally leaked to the press, and identities were illegally “unmasked” to discredit and embarrass the incoming President and his team. This makes Watergate look like a squirt gun fight, and this investigation is now set to reveal “smoking gun” proof that the Obama Administration was involved in illegal activity. This investigation is far from over and could directly implicate former President Obama.
- Trump to approve Keystone XL pipeline
President Trump and his administration will approve the Keystone XL pipeline on Friday, according to senior U.S officials, but only after the State Department delivers a positive recommendation to start construction on a project that has been delayed for quite some time, the Keystone pipeline has served as a key point in the debate about climate change. The undersecretary of state for political affairs, Tom Shannon, would make a recommendation on Friday that the pipeline serves U.S national interests, said two senior officials. Afterwards, the White House would make a formal announcement citing approval, said the officials, who weren’t given permission to comment publicly on the matter.
- Banks Are Crashing
Party's over… With the yield curve flatter than before Trump's election, and rates collapsing, reform was the last best hope for bank bulls… And after Friday's debacle, it appears investors have lost patience… Banks are now red YTD… Think banks are oversold? Maybe not…
- Financial Collapse Will Trigger Civil War
Best-selling author Doug Casey wrote “Crisis Investing” at the time when the U.S. political landscape was transitioning from the Carter Administration to the Reagan Administration. Now, Casey sees a coming crisis that is equal or worse than the Civil War. Casey explains, “In the U.S. right now, there seems to be so much antagonism it’s almost like pre-Civil War. There is actually hatred in the U.S. at this point. It used to be the Republicans and Democrats could disagree, but they could have a civil conversation about a difference of opinion. Now, it’s active hatred between these two groups. This is not going to end well.”
- “They're Like The Praetorian Guard” – Whistleblower Confirms NSA Targeted Congress, The Supreme Court, & Trump
NSA whistleblower William Binney told Tucker Carlson on Friday that the NSA is spying on “all the members of the Supreme Court, the Joint Chiefs of Staff, Congress, both House and Senate, as well as the White House.” Binney, who served the NSA for 30 years before blowing the whistle on domestic spying in 2001, told Tucker he firmly believes that Trump was spied on.
- Prophetic Voices: ‘Exposure’ And ‘Dividing’ Are Coming Due To ‘Perversion’ In The Church
When prophetic voices all over the nation start saying the exact same thing, you might want to start listening. In the Scriptures, there is a very clear pattern when it comes to judgment. God always sends warnings in advance so that people can have a chance to repent. In recent days there has been a flood of warnings for the church in America, and I am going to share a few of those with you in this article. Considering the fact that there is such agreement in the prophetic community, it would be quite foolish to refuse to take these warnings seriously.
- Scientists Warn That The Coming California Megaquake Could Plunge Large Portions Of The State Into The Ocean
Over the years, many people have been shown that someday a giant earthquake will cause significant portions of California to fall into the ocean. But up until now, most scientists have disputed the idea that this could ever actually happen. Well, now all of that has changed. According to a brand new study, a megaquake along the west coast “could plunge large parts of California into the sea almost instantly”. In fact, the researchers that conducted this study say that it is almost certain to happen eventually. Of course they probably don’t believe that such an event is imminent or else they would be moving out of the state like so many other people are.
- Member Of Congress Warns Of A 1,000 Point Stock Market Crash If Obamacare Lite Does Not Pass
Are we going to see a dramatic stock market plunge if the effort to get “Obamacare Lite” through the U.S. House of Representatives ultimately fails? On Thursday, a vote on the Republican healthcare bill was postponed once it became clear that there would not be enough votes for it to pass. House Republican leaders are still optimistic that there will still be a vote on Friday, but that is far from certain. Many strong conservatives in the House are balking at supporting this bill because while it does eliminate a few of the most troublesome provisions of Obamacare, it keeps many of the elements of Obama’s signature healthcare law that have proven to be popular with the American people. In other words, this bill is much more about “tweaking” Obamacare than “repealing” it.
- Jobs of the future may not have stable hours, holiday pay, sick pay, or pensions, DWP secretary says
Jobs of the future may not have stable hours, holiday pay, sick pay, or pensions, the Work and Pensions Secretary has said. Damian Green described the trend in employment practices towards the so-called “gig economy” as “exciting” and said the changes had “huge potential”. The Cabinet minister’s endorsement of the approach comes a month after an employment tribunal found that drivers for the Uber car service should in fact get the minimum wage and paid holiday. The tribunal dismissed the taxi company’s claim that its drivers were in fact self–employed and not entitled to these rights.
- The Worst Retail Cataclysm Ever: Sears Warns It Is On The Verge Of Collapse As Payless Prepares To File For Bankruptcy
More than 3,500 retail stores are going to close all across America over the next few months as the worst retail downturn in U.S. history gets even deeper. Earlier this week, Sears shocked the world when it announced that there is “substantial doubt” that the company will be able to “continue as a going concern” much longer. In other words, Sears has announced that it is on the verge of imminent collapse. Meanwhile, Payless stunned the retail industry when it came out that they are preparing to file for bankruptcy. The “retail apocalypse” that I have been warning about is greatly accelerating, and many believe that this is one of the early warning signs that the economic collapse that is already going on in other parts of the globe will soon reach U.S. shores.
- None of the world’s top industries would be profitable if they paid for the natural capital they use
The notion of “externalities” has become familiar in environmental circles. It refers to costs imposed by businesses that are not paid for by those businesses. For instance, industrial processes can put pollutants in the air that increase public health costs, but the public, not the polluting businesses, picks up the tab. In this way, businesses privatize profits and publicize costs. While the notion is incredibly useful, especially in folding ecological concerns into economics, I’ve always had my reservations about it. Environmentalists these days love speaking in the language of economics — it makes them sound Serious — but I worry that wrapping this notion in a bloodless technical term tends to have a narcotizing effect. It brings to mind incrementalism: boost a few taxes here, tighten a regulation there, and the industrial juggernaut can keep right on chugging. However, if we take the idea seriously, not just as an accounting phenomenon but as a deep description of current human practices, its implications are positively revolutionary.
- This New Bubble Is Even Bigger Than The Subprime Fiasco
In 1988, a bank called Guardian Savings and Loan made financial history by issuing the first ever “subprime” mortgage bond. The idea was revolutionary. The bank essentially took all the mortgages they had loaned to borrowers with bad credit, and pooled everything together into a giant bond that they could then sell to other banks and investors. The idea caught on, and pretty soon, everyone was doing it.
- 5 Charts That Scream “This Is It”
Before yesterday, the S&P 500 and DJIA hadn’t seen a 1% drop since October 2016. For some perspective, Hillary Clinton was the presidential frontrunner the last time markets fell 1%. This was the longest such streak for both indices in over 20 years. In February, the DJIA recorded its longest “winning streak” since 1987. It closed 2,000 points above its 200-day moving average for the first time ever. Also in February, the combined market cap of the S&P 500 topped $20 trillion for the first time. Its market cap has increased by over $2 trillion since the election—staggering. Like we discussed last month, with a proliferation of “record” highs in 2017, where are market valuations at today? The five charts below paint the whole picture best.
- Lead Poisoning In “Dozens Of California Communities” Worse Than Flint, Michigan
California, a state infamous for its environmental protections, including a $65 billion tunnel project being pushed by Governor Jerry Brown so as not to disrupt the habitat of a tiny, non-native fish species, may be facing a lead poisoning crisis more severe than Flint, Michigan.
According to blood test data obtained by Reuters, rates of childhood lead poisoning in several California cities surpass those measured in Flint, Michigan, with one Fresno locale showing rates nearly three times higher. In fact, in Fresno’s downtown 93701 zip code, nearly 14% of children tested showed lead levels at or above 5 micrograms per deciliter of blood, the Centers for Disease Control and Prevention’s current threshold for an elevated reading. As the CDC noted, no level of lead exposure is safe, but children who test that high warrant an immediate public health response.
- Sears Enters Death Spiral: Vendors Halt Shipments, Insurers Bail
When we commented yesterday morning on the unexpected “going concern” notice in Sears' just filed 10-K which sent the stock crashing, we pointed out the immediate spin provided by Eddie Lampert's distressed retailer which promised that its comeback plan may help alleviate the concerns, “satisfying our estimated liquidity needs 12 months from the issuance of the financial statements”, to which however we added the footnote that “the question is what happens when vendors start demanding cash on delivery as concerns about SHLD.'s liquidity concerns continue to grow.”
- Dear America: Better Read The Fine Print On Your Credit Card Statement
What will replace the current system after it self-destructs? That's the question. You know those disclosures on your credit card statements? That it will take 27 years to pay off your balance if you only make the minimum payment each month, and so on?
- PBOC Injects Hundreds Of Billions Into Chinese Banks After Sudden Defaults In Interbank Payments
As is customary virtually every time the Chinese central bank commences some form of tightening, overnight the PBOC injected “hundreds of billions of yuan into the financial system after some smaller lenders failed to repay borrowings in the interbank market”, according to people familiar with the matter. According to a brief note by Bloomberg, Tuesday’s injections followed missed interbank payments on Monday, anonymous sources said; the matter is not made public over concerns of bank deposit flight risk. The institutions that missed payments included rural commercial banks. One of Bloomberg's trader sources said a borrower failed to repay an overnight repo of less than 50 million yuan ($7.3 million). China’s smaller lenders have been squeezed by a rise in money market rates this week, with the benchmark seven-day repurchase rate jumping to the highest level since April 2015 on Tuesday. As we described last Wednesday, the PBOC for the second time in a month engaged in tightening by hiking the rate on reverse repos as well as various liquidity conduit operations such as the MLS.
- Venezuela Stops Publishing Money Supply Data For Obvious Reasons
More than a year after hyperinflating banana republic Venezuela stopped reporting official inflation data, Venezuela has stopped publishing money supply data, depriving the general public of the last, and best, available tool to ascertain soaring inflation in what has become the world's worst-performing economy. Then again, one hardly needs official data to confirm the blistering wave of hyperinflation sweeping through the nation which has seen the value of the bolivar disintegrate under the Maduro regime. The money supply indicator suddenly stopped appearing on the central bank's website on Feb. 24. The data in question, which will no longer be updated, looked as follows most recently.
- Genetically-modified crops have benefits – Princess Anne
Princess Anne has said genetically-modified crops have important benefits for providing food and she would be open to growing them on her own land. She told BBC Radio 4's Farming Today “we have to accept” the process could help production and livestock health. Her brother, the Prince of Wales, has previously warned GM crops could cause an environmental disaster. But Princess Anne said: “To say we mustn't go there ‘just in case' is probably not a practical argument.”
- The Curse of Unlimited Money
We live in an age of government fiat money, meaning it's not real and constitutional money, like gold and silver. Since government, via its central bank, can create as much money as it wants, it can finance whatever it wants….wars, welfare, social engineering, you name it. No price tag is too big. Imagine having the ability to create (out of thin air) as much money as you'd like. Putting all jokes aside, what would become of you? How would that change you? We're not talking about earning as much money as you'd like. That's totally legitimate. We're talking about — one moment the money doesn't exist, and the next it's in your hands. How would that warp every aspect of your humanity? Let's just say, it wouldn't be pretty, as intoxicating as the prospect may sound on the surface.
- Meals on Wheels Responds to Fake News Claims Trump’s Budget Will Shut Them Down
For the mainstream media sending hundreds of millions of tax dollars to support terrorists organizations in the middle east isn’t worth covering. But God forbid Trump dare propose cutting $250K from Meals on Wheels. A budget move that, if you only listen to what the fake news complex feeds you, would have you believing will shut down the organization and close its doors for good. But is that $250K really going to cripple Meals on Wheels? Is that really the bulk of funding for the organization? Not even close. In fact, around 3% or less of their funding comes from taxpayers via the federal government.
- Iconic Wall Street Bull Artist Unhappy with Fearless Girl Statue
For decades, an iconic bronze bull has stood at the ready in front of the New York Stock Exchange, a symbol of America’s perseverance during difficult financial times. On March 7th the bull met what many felt was an inspirational opponent in a statue dubbed “The Fearless Girl” – a young woman standing tall and staring down the behemoth animal meant to act as a symbol of the power of women in modern American society. The only problem with the young lady’s visage is that it has adversely affected the power of bull’s symbolism, according to the artist who created and donated the beast to The Big Apple.
- Opinion: Here’s where the next financial crisis is lurking
Animal spirits are running high. President Donald Trump’s promises to repeal Obamacare, cut taxes, and roll back regulations have supercharged stock prices and business optimism. However, history teaches when expectations are most buoyant, investors and decision makers are inclined to overlook dangers in specific markets that could abscess into a systemic collapse. Here are five problems that could saddle Trump with the next financial crisis: Housing Bubble, Student Debt, European Banks, China and Trump’s Promises and Political Divisions.
- Mainstream Media in Total Collapse
Few any longer believe the “mainstream media,” that is, the presstitutes. This has put them into a panic as the presstitutes lose their value to the ruling elite if the presstitutes cannot control the explanations in order to justify the self-serving agendas of the ruling elite. To fight back against the alternative media that does tell the truth, a secret group, PropOrNot, as well hidden as an offshore money-laundering operation, published a list of 200 websites accused of being “Russian agents/dupes.” PropOrNot’s effort to discredit truth-tellers was hurt by the site’s anonymity.
- NSA Whistleblower Releases Documents Proving Trump Surveillance
At a time when deep state insiders have been consistently leaking classified information in an effort to discredit President Trump, they have either failed to recognize the fact that they were endangering American lives, or they just simply didn’t care. With liberals, the ends always justify the means… so don't be surprised if it's the latter. Despite the deep state's best efforts, the Russian conspiracy allegations are fast being disproved, and with any luck they’ll collapse on themselves once and for all sooner before later. Meanwhile, the “Obamagate” scandal has just begun to pick up steam. New evidence has recently emerged that’s bound to throw more fuel into the fire, making things a bit hot for President Obama.
- Central Bank Shell Game: What Sweden’s Negative Interest Rates Do to Consumers
Sweden’s welfare state supposedly allows for success while providing a safety net for those unable to keep up with the market. In principle, it is an ideal, utopian-like state. However, Sweden’s touted economic success has come at the expense of its currency, the Krone (SEK), and long-term sustainability. Riksbank, the Swedish Central Bank, like its European contemporaries, has undertaken experimental policy, driving real and nominal interest rates below zero.
- The Collapse of Trust in the West
Just as President Putin has stated that governments and media in the West have destroyed Russia’s trust in the West, the governments and media in the West have destroyed the trust of their citizens, who have been transformed into serfs to whom government no longer is accountable. I have stressed in many columns that the absence of trust between nuclear powers is a great threat to all life on earth. Yet the Western governments and media continue to work 24/7 to worsen relations between the US and Russia and the US and China. Those of us who warn of the possible consequences are put on lists of “Russian dupes” and purveyors of “fake news.” These lists show the desperation behind the orchestrated “Russian threat.” A one thousand billion dollar annual military/security budget is at stake along with American financial and political hegemony. In brief, greed for money and power are driving the world to destruction.
- Rising Inflation, Four Rate Hikes, Financial Repression on Menu in 2017: Fed Heads
Inflation will rise above target, and that’s OK, the Fed heads who’ve been talking since last week’s meeting said. The Fed will hike rates, maybe faster than expected, but they won’t catch up with inflation, keeping the Fed purposefully behind the curve, and inflation will overshoot, and real interest rates will be deeply negative, whether you like it or not. That’s the Fed’s message emerging since the last meeting. Today, Philadelphia Fed President Patrick Harker and Chicago Fed President Charles Evans echoed Fed Chair Janet Yellen who’d suggested on Wednesday that the Fed could try to push inflation above the 2% “target.”
- The Conspiracy Against President Trump
Listening today to the broadcast of testimony by FBI Director Comey and National Security Agency Director Admiral Michael Rogers before the House Intelligence Committee (an oxymoron) made it clear that the Democrats, Comey, and Rogers intend conflict with Russia. The Republicans, for the most part, were interested to know how security leaks targeted at Trump Republicans came from meetings at which only the CIA Director, NSA Director, and FBI director were present. Of course, they did not get an answer, which shows how powerless congressional oversight committees are. Comey repeatedly said that he could not tell the committee anything, because it would confirm that a press leak was true. But, he said, speaking generally and of no specific leak, most leaks come from “someone who heard something” and passes it on to the media, which also explains the inaccuracy of some leaks. In other words, don’t blame us.
- Pastor Lindsey Williams introduces Pastor David Bowen – March 23, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter.
Latest News From March 17, 2017 to March 23, 2017:
- Keiser Report – Health Care ‘Hard Choices’
We discuss the allegedly ‘hard choices’ in resolving America’s problem providing health care. In the second half, Max talks to trends forecaster, Gerald Celente of TrendsResearch.com, about the Fed’s interest rate hike and whether or not Trump’s threatened trade wars will lead to hot wars.
- Great Recession Headed for Greater Depression
Money manager Michael Pento says don’t believe the Fed when it says “the economy is doing well.” It’s not. Pento explains, “As long as the stock market continues to go up, the Fed is going to continue to slowly raise interest rates. So, when the inevitable collapse occurs, and that’s what the Fed does, the Fed is in the business of lowering interest rates, creating asset bubbles, which pile up the level of debt, then raising rates and collapsing the economy. That’s their mantra. That’s their MO (modus operandi) and it has happened over and over again. The occurrences are going to be much more dire as we go through time. So, the Fed is trying to get bullets in the chamber. The Fed is going to raise rates slowly. The yield curve is going to invert. . . . We are going to have another catastrophe in the stock market and in the bond market and in the real estate market and in the global economy.”
- ALERT: Big Money Just Made A Massive Short Bet Against The U.S. Stock Market!
After this week’s Fed decision, big money just made a massive short bet against the U.S. stock market. Smart Money Establishes A Big Short. Jason Goepfert at SentimenTrader: “Last August, “smart money” commercial hedgers in S&P 500 futures were net short about $24 billion worth of the full and e-mini contracts. As stocks declined into October, they covered and went net long. Even as stocks climbed, they added to their positions, ultimately having long exposure worth about $13 billion…
- The Upcoming Trade War Between The U.S. And China Will Be The Biggest In The History Of The Planet
The United States and China are the two largest economies in the world by far, and the upcoming trade war that is about to erupt will be cataclysmic for both sides. The Trump administration and the Chinese government are both gearing up for a prolonged trade war, and this is going to have very severe implications for the entire global economy. During the campaign, Donald Trump repeatedly stated that we “can’t continue to allow China to rape our country”, and he was quite correct about that. Over the past ten years, the U.S. has run a trade deficit of over $2 trillion with China, and as a result of imbalanced trade we have lost tens of thousands of manufacturing businesses, millions of good paying jobs, and hundreds of billions of dollars of tax revenue.
- The Global Famine Begins: UN Announces That The Worst Food Crisis Since World War II Is Happening Right Now
We always knew that this would start happening. Earlier this month, I wrote about the severe economic problems that are plaguing South America, but up to this point I have neglected to discuss the horrific famines that are breaking out all over Africa. Right now there is a desperate need for food in South Sudan, Somalia, northeast Nigeria, Eritrea and Kenya. And Yemen, even though it is not technically part of Africa, is being affected by many of the same factors that are crippling nations all over eastern Africa. The United Nations says that more than 20 million people could die from starvation and disease if nothing is done. When I write about economic collapse, this is the kind of thing that I am talking about, and we are starting to see alarming conditions spread across the globe. Many believe that we could never possibly face this kind of food crisis in the western world, but unfortunately wishful thinking will only get you so far.
- 1961 Prophecy From Evangelist Tommy Hicks Described The Army Of The Last Days That Is Rising Now
More than 50 years ago, God showed evangelist Tommy Hicks what the mighty army of the last days would look like. Hicks was best known for his work in South America, and you can see some old photos of him ministering during the Argentinian revival of 1954 here. According to Hicks, on the morning of July 25th, 1961 he was shown the same vision “three times, exactly in detail”, and what he saw changed the course of his life forever. In this vision God revealed to Hicks that the Spirit of God would be poured out on “the nobodies” all over the world in the last days, and that this incredible army would shake the world for God like we have never seen before.
- First Real Hope for Flint Water as Trump Bestows $100 Million
Under authority granted the agency by the Water Infrastructure Improvements for the Nation Act of 2016, the EPA just issued a $100 million grant to the beleaguered city of Flint, Michigan, to help in the effort at replacing the city’s badly corroded and lead-tainted system of water pipes. Some progressive critics of President Donald Trump have pointed to his proposed budget cuts at the Environmental Protection Agency as proof that he is a terrible president who doesn’t care about ensuring that Americans have clean air and water. However, the recent report from The Daily Caller about Trump’s EPA grant just did threw that narrative into a tailspin.
- “This Is Going To Blow Sky High” – Observations On Canada's Housing Market
For months we've been warning about real estate bubbles re-emerging in various markets around the world from Canada to Australia (see “There Are 66,719 Empty Mansions In Vancouver” and “Vancouver Home Sales Crash 40%, As Toronto Home Prices Soar 22%”). And while facts and figures clearly indicate that certain markets are bubbling over courtesy of all the same mistakes that caused the ‘great recession' in 2008, nothing helps to confirm the truly obscene nature of a real estate bubble quite like attending a good ole-fashioned, get-rich-quick real estate expo. As such, below are the musings of one financial market observer who recently attended the Canadian Real Estate Wealth Expo as a joke but walked away convinced the system is about “to blow sky high.”
- Another Senior Russian Official Has Died
Since the day of Donald Trump's election, high-ranking Russian officials have been dropping like flies and today's reports that a top official of Russia's space agency has been found dead brings the total to eight. As we noted previously, six Russian diplomats have died in the last 3 months – all but one died on foreign soil. Some were shot, while other causes of death are unknown. Note that a few deaths have been labeled “heart attacks” or “brief illnesses.”
- Gartman Goes Short: “Something Broke In The Markets Yesterday”
Just when it seemed the follow through from yesterday's selloff would continue, algos may have found the only catalyst they need to lift some offers: in his overnight note, Dennis Gartman writes “we actually ventured to the short side of the market, buying bearish derivatives and by 1:00 in the afternoon, doubling those positions and carrying them “home” through the close of trading.”
- EU Taxpayers Brace As Deepening Banking Crisis Means Euro-TARP Looms
If the ECB scales back stimulus, banks face even greater risk of collapse. But now there’s a new solution. Events are moving so fast in Europe these days, it’s almost impossible to keep up. While much of the attention is being hogged by political developments, including the election in the Netherlands, Reuters published a report warning that the European banking sector may face even higher bad loan risks if the ECB begins to scale back its monetary stimulus programs, something it has already begun, albeit extremely tentatively. The total stock of non-performing loans (NPL) in the EU is estimated at over €1 trillion, or 5.4% of total loans, a ratio three times higher than in other major regions of the world.
- Used Car Prices Crash Most Since 2008
According to NADA Used Car Guide, wholesale prices on used vehicles are getting crushed. Let’s take a look at the details. NADA partially blames late tax refunds for some of the declines in March. While it’s true the IRS slowed claims for the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) to combat fraud, late refunds in 2017 cannot possibly explain an eight-month trend. Yet, based on tax refunds, NADA expects a rebound in used car prices in March. With massive incentives on new vehicles, I say, let’s see. Regardless, it’s pretty clear that car sales are slowing, and it takes bigger and bigger incentives to push them out the door.
- We may have just moved closer to a global trade war
Until now, Wall Street investors and foreign leaders had given President Donald Trump's antitrade views the benefit of the doubt, dismissing some of Trump's louder threats to rip up global commercial agreements as mere bluster. That perception changed significantly this weekend, when Trump's Treasury secretary, Steven Mnuchin, seen as among the more moderate members of the administration, held his ground on weakening the Group of 20 nations' long-standing commitment to free trade.
- EU chief Juncker: We'll make an example of Britain that no-one will want to follow
European Commission President Jean-Claude Juncker is not worried about other EU countries leaving the bloc after Britain because Brexit will make them see it is not a good option, he said in a newspaper interview. Asked by Bild am Sonntag newspaper if other member states would follow Britain's example in quitting, Juncker said: “No. Britain's example will make everyone realise that it's not worth leaving.”
- Theresa May to trigger article 50 on 29 March
Theresa May will trigger article 50 on Wednesday 29 March, the prime minister’s spokesman has confirmed. The UK’s permanent representative to the European Union, Sir Tim Barrow, notified the EU on Monday morning that a letter should be expected on that date. May, who was visiting Swansea on Monday, intended to visit Northern Ireland and Scotland before the formal notification was sent by letter on 29 March, Downing Street said.
- White House meeting with Trump was catastrophic for Merkel
There were discernible slights and insults for German Chancellor Angela Merkel at her first meeting with US President Donald Trump at the White House on Friday. For Donald Trump, it was just another day, full of outrageous behavior and controversy. The grave consequences of rudeness at this rarefied diplomatic level should not be underestimated. But it was nuances of what was said and what wasn’t said at the White House that will have the more far reaching results. Angela Merkel was portrayed by the world media as a put upon woman, a victim of the slights of a misogynist. But she is a mature and substantial politician in her own right. She will know that she came away from this summit with nothing. She is the kind of consensus, liberal politician that Trump holds in the greatest contempt. And she has the most to fear.
- Ukraine says IMF suspends discussion on fresh handout
Ukraine on Sunday said the International Monetary Fund has postponed a board discussion on disbursing a new $1-billion loan tranche after Kiev cut trade links with Russian-backed rebel eastern regions. “The IMF board of directors has postponed for a short period the review planned for Monday of the issue,” Ukraine's finance ministry said in a statement. There was no separate confirmation from the IMF.
- Row Breaks Out At G-20 Over Future Of Global Trade
One day after yesterday's at times painfully uncomfortable first official meeting between Angela Merkel and Donald Trump, it will hardly come as a surprise that during today's G-20 meeting in Baden Baden, Germany- the first for the Trump administration, whose delegation is led by Treasury Secretary Steven Mnuchin – where the dominant topic is trade, and specifically globalization vs protectionism, that a row would break out over how the post-Trump world will deal with trade.
- Mexicans Flood Into Canada As 2017 Border Detentions Surpass All Of 2016
A couple of days ago we noted that Mexican immigrants were suddenly flooding into Canada to avoid deportation from the U.S. The increase in northern border crossings came, at least in part, courtesy of Canada's decision to lift visa requirements for Mexican ‘tourists' as of December 1st. Per the new rules, rather than a visa, under Trudeau's administration, Mexicans are now only required to have a so-called Electronic Travel Authorisation (ETA) which can be purchased online for CAD $7. Unfortunately, while Canada's relaxed travel requirements were applauded as an enlightened, progressive alternative to Trump's xenophobic, racist approach to immigration, under the surface, Canada's policies still function much like Trump's proposals. As Mexican immigrants are suddenly finding out, while Canada is happy to host ‘tourists' from our Southern neighbor, getting a work visa can be nearly impossible and Mexicans with a criminal record are not welcome.
- Is Denmark On The Brink?
Iben Thranholm examines political and social events with focus on their religious aspects, significance and moral implications. She is one of Denmark’s most widely read columnists on such matters. Thranholm is a former editor and radio host at the Danish Broadcasting Corporation (DR), at which she created a religious news program that set a new standard for religious analysis in the newsroom. She has traveled extensively in the Middle East, Italy, the United States and Russia to carry out research and interviews. She has been awarded for her investigative research into Danish media coverage of religious issues.
- Headaches Set In for Traders With NYSE Glitch Near Market Close
NYSE Group sowed confusion among traders after a technical error hobbled one of its exchanges on Monday, wreaking havoc on hundreds of exchange-traded funds. NYSE Arca, the largest U.S. listing venue for ETFs, left traders scrambling at the end of the trading day after a system upgrade went awry. An upgraded version of its software that went live on Monday derailed closing auctions for certain securities, a key moment at the end of the trading day. The exchange shifted to backup methods for calculating the closing prices for most names, and went back to using an old version of its software, according to an email to clients. A total of 341 symbols did not complete their closing auctions, the exchange said.
- Venezuela has a bread shortage. The government has decided bakers are the problem.
Facing a bread shortage that is spawning massive lines and souring the national mood, the Venezuelan government is responding this week by detaining bakers and seizing establishments. In a press release, the National Superintendent for the Defense of Socioeconomic Rights said it had charged four people and temporarily seized two bakeries as the socialist administration accused bakers of being part of a broad “economic war” aimed at destabilizing the country.
- It's Time To Get Painfully Honest: Banks Are Evil
I don't talk to my classmates from business school anymore, many of whom went to work in the financial industry. Why? Because, through the lens we use here at PeakProsperity.com to look at the world, I've increasingly come to see the financial industry — with the big banks at its core — as the root cause of injustice in today's society. I can no longer separate any personal affections I might have for my fellow alumni from the evil that their companies perpetrate. And I'm choosing that word deliberately: Evil.
- ‘Anonymous' Joins Hacker Crusade To Steal Millions From Global Central Banks
Roughly a year ago we wrote about perhaps the most notable bank heist in history in which a group of hackers used Swift, the interbank messaging system, to steal $81 million from the Central Bank of Bangladesh. But Bangladesh isn't the only country whose Central Bank has been targeted by a growing number of hackers seeking to score a quick, and massive, loot. As Bloomberg notes, hacks on global financial systems soared in 2016 and claimed Russia, Poland, Uruguay and Mexico, just to name a few, as victims.
- Deported Mexicans Vow To Flood Into Canada – Immigrating To “The U.S. Is Over…Now It's Canada's Turn”
Canada has been applauded in recent months for its decision to lift visa requirements for Mexican ‘tourists' as of December 1st. Rather than a visa, under Trudeau's administration, Mexicans are now only required to have a so-called Electronic Travel Authorisation (ETA) which can be purchased online for CAD $7. As one media outlet praised, the move “provides a stark contrast to proposed policies from the US president-elect Donald Trump, who has said he will immediately deport between two and three million illegal immigrants and will build a wall along the US-Mexican border.” Not surprisingly, news of the rule changes in Canada quickly made the rounds in the migrant community with one recently-deported Mexican nationalist declaring that “For those without documents, I think (the United States) is over. Now it's Canada's turn.”
- Why Is Goldman On A Buying Spree For Delinquent Mortgages
Last year Goldman Sachs entered into a settlement with federal and state governments over its role in packaging and selling toxic mortgage-backed securities in the housing meltdown to unsuspecting buyers while subsequently turning around and shorting those very same securities. As part of the settlement, Goldman agreed to provide $1.8 billion in homeowner debt relief to delinquent U.S. borrowers. The only problem with the settlement is that Goldman doesn't actually own any mortgage debt, they prefer to package it up into pretty little bundles, slap a AAA rating on it and sell it to pension funds for a fee instead. Of course, that's not a problem for Wall Street's vampire squid because they've found a whole other way to satisfy the entire $1.8 billion settlement without funding a single penny of that obligation in cash, in fact, they're making money on the scheme.
- The EPA May Have Been in Bed with Big Pesticide for Years
There is, at the moment, a massive lawsuit against the Monsanto company regarding Roundup, its most popular pesticide. The company is being sued by citizens who maintain that glyphosate, the active ingredient in Roundup, is responsible for their cancers. On Tuesday, the judge overseeing the case unsealed some of the documents that have been filed related to the case, and nobody comes out clean-not the company and, sadly, not the EPA, either.
- Our Political Economy Is Designed to Create Poverty and Inequality
Let me begin by sharing with you the story of an inner-city Cleveland family of seven, two adults and five children all under the age of 11. The family did not own a home. They were renters. As the family grew, it became ever more difficult to find rent. At one point the old car in which they roamed the city in search of rent became their living quarters. Evenings, the father and mother and a newborn slept in the car’s front seat, and the four other children, in the back.
- Rand Paul introduces the most sweeping reform of civil asset forfeiture law in decades
Sen. Rand Paul has long taken the lead in calling for the reform of civil asset forfeiture laws, a controversial police practice in which authorities basically steal the property of citizens without due process and little recourse. Billions have been seized from citizens by the police based on nothing more than suspicion, which many see as a direct violation of the Fifth Amendment. It’s state-sanctioned theft. “Under civil forfeiture laws, your property is guilty until you prove it innocent,” says the Institute for Justice’s Scott Bullock. On Thursday, Sen. Paul reintroduced FAIR (Fifth Amendment Integrity Restoration) Act, which specifically addresses victims of civil asset forfeiture who have not been convicted of a crime.
- Associate of Paul Craig Roberts Just Warned This Major Market Is Ready To Collapse
As the world awaits the Fed’s decision on interest rates, today an associate of former Assistant U.S. Treasury Secretary official, Dr. Paul Craig Roberts, just warned that this major market is ready to collapse. “There’s so much inventory, and that influx is hitting across all price points, even studios.” – Director at Douglas Elliman. NYC was one of the first markets hit hard in 2007-2008. This Is Beginning To Happen Across The Country. Dave Kranzler: For awhile, any weakness in the NYC housing market was attributed exclusively to the high end. I am on record stating that price dynamic would spread to all price segments. It’s not rocket-science, it’s simple supply/demand/price economics. Studio rents in NYC dropped the most on record in February. This same dynamic is also beginning to happen in many of the other hottest cities across the country…
- Greyerz – The Greatest Bubble In History Is Beginning To Implode
With continued uncertainty around the globe, today the man who has become legendary for his predictions on QE, historic moves in currencies, told King World News that the greatest bubble in history is beginning to implode. Things Are Finally Beginning To Implode. Egon von Greyerz: “So the Fed decision is finally out. The rate increase was a certainty. But the problem is that no one believes the Fed, not even the Fed itself…
- Billionaire banker David Rockefeller dies aged 101
Former Chase Manhattan Chief Executive David Rockefeller has died at the age of 101. Rockefeller died in his sleep at home in Pocantico Hills, New York, on Monday morning as a result of congestive heart failure, according to a family spokesperson Fraser P. Seitel. The businessman, who had an estimated fortune of $3 billion, retired as head of Chase Manhattan in 1981 after a 35-year career.
- America in Totally Unknown Territory
Former CIA Station Chief Scott Uehlinger says the 2016 Presidential Election put “America in totally unknown territory.” Uehlinger explains, “I lived in countries like Azerbaijan, Moldova and Kosovo. These were rough and tumble places where this was my bread and butter. There was always a Prime Minister or a head of state that was using intelligence services to embarrass or frame or destroy members of the opposition party. This is something I have seen time and time again. This is something I have had to collect intelligence on time and time and time again, and I think this kind of gives me a unique perspective into what is going on in the United States right now. I have seen this all before, but we also have to remember that this has never been here before. This is something new for Americans and, unfortunately, it’s not really new for me.
- Woman That Prophesied Trump Would Win Now Warns That A “Great Shaking” Is Coming And Churches Will Fall
If Dr. Patricia Green is correct, America is about to be shaken like we have never seen before. And considering her track record, I would take what she has to say very seriously. She correctly prophesied in advance that Donald Trump would win the election in November. If you are not familiar with this prophecy, you can find it on a video that she published on September 28th right here. She also correctly prophesied Barack Obama’s first election victory in advance, and she did it at a time when Hillary Clinton was expected to get the Democratic nomination. So unlike many other “prophets” that are floating around these days, she has a very long track record of being accurate.
- A Rare Solar Eclipse In 2017 And Another One 7 Years Later In 2024 Will Mark A Giant ‘X’ Across The United States
On August 21st, 2017, something is going to happen in the United States that has not happened since 1918. On that date, a total solar eclipse will be visible all the way from the east coast to the west coast. Incredibly, another rare solar eclipse of this nature will move across the country just seven years later in 2024. If you plot the projected courses of these two solar eclipses on a map, you will find that they form a giant “X” across the continental United States. In the Scriptures, Jesus told us that “there shall be signs in the sun, and in the moon, and in the stars” just prior to His return, and many are speculating about what this giant “X” might mean.
- The Debt Ceiling Deadline Has Passed, And Now The Biggest Test Of Donald Trump’s Presidency Begins…
On Wednesday, the temporary suspension of the debt ceiling ended, and so now the federal government is not going to be able to go into any more debt until the debt ceiling is raised. For the moment, the Trump administration can implement “emergency measures” to stay under the debt limit, but it won’t be too long before we get to a major crisis point because the federal government is quickly running out of cash. Already, the U.S. Treasury has less cash on hand than Apple or Google, and that cash balance is going to keep on dropping until the debt ceiling is finally lifted. You may remember that the debt ceiling became a major issue a couple of times during the Obama years. Last time around, Barack Obama and the Republicans in Congress agreed to a horrendous deal which suspended the debt ceiling until several months after the 2016 election…
- 12 Reasons Why The Federal Reserve May Have Just Made The Biggest Economic Mistake Since The Last Financial Crisis
Has the Federal Reserve gone completely insane? On Wednesday, the Fed raised interest rates for the second time in three months, and it signaled that more rate hikes are coming in the months ahead. When the Federal Reserve lowers interest rates, it becomes less expensive to borrow money and that tends to stimulate more economic activity. But when the Federal Reserve raises rates , that makes it more expensive to borrow money and that tends to slow down economic activity. So why in the world is the Fed raising rates when the U.S. economy is already showing signs of slowing down dramatically? The following are 12 reasons why the Federal Reserve may have just made the biggest economic mistake since the last financial crisis…
- Trump’s First War? ‘All Options Are On The Table’ As The U.S. And North Korea Prepare For The Second Korean War
This may be the closest that we have been to war with North Korea since the original Korean War ended in 1953. The North Koreans are feverishly working to develop intercontinental ballistic missiles that could strike the U.S. mainland, and meanwhile Donald Trump has not moved from his position that North Korea will simply not be allowed to have ICBMs. If North Korea does not blink, it means that we are literally counting down the days until we go to war. Unfortunately, North Korean leaders appear to literally be insane and they have shown absolutely no signs of backing off. In 2016, North Korea tested two nuclear bombs and test-fired 24 missiles, and so far this year they have test-fired five ballistic missiles into the Sea of Japan.
- Somebody is Lying About Spying, Fed Hikes Rates & Gold Spikes, War Update
Somebody is lying about spying on Donald Trump. The Senate says they see “no evidence,” and yet the New York Times runs a story about revealing information that came from “wiretapping Trump aides.” Respected Judge Andrew Napolitano says British Intelligence did the spying because it has 24/7 access to NSA records. The British Spy agency denies this charged. Bottom line, The Trump Administration is overtly and covertly under attack, and that is clear. Expect a counterattack and soon from the Trump camp.
- How The Federal Reserve Is Setting Up Trump For A Recession, A Housing Crisis And A Stock Market Crash
Most Americans do not understand this, but the truth is that the Federal Reserve has far more power over the U.S. economy than anyone else does, and that includes Donald Trump. Politicians tend to get the credit or the blame for how the economy is performing, but in reality it is an unelected, unaccountable panel of central bankers that is running the show, and until something is done about the Fed our long-term economic problems will never be fixed. For an extended analysis of this point, please see this article. In this piece, I am going to explain why the Federal Reserve is currently setting the stage for a recession, a new housing crisis and a stock market crash, and if those things happen unfortunately it will be Donald Trump that will primarily get the blame.
- Consumer Confidence: Democrats Expect “Deep Recession”, Republicans Look To New Golden Age
UMich consumer confidence rose in the preliminary March print, beating expectations at 97.6 with current conditions surging but expectations stalling somewhat. This exuberance is occurring as real earnings growth slumps. But crucially, the partisan divide is unprecedented. The overall level of consumer sentiment remained quite favorable in early March due to renewed strength in current economic conditions as well as the extraordinary influence of partisanship on economic prospects.
- Minimum wage hikes are causing businesses to cut jobs
In January, 19 US states raised their respective minimum wages. Washington was among the most generous, hiking by $1.53 (bringing it to $11 per hour). Arizona got an increase of $1.95—their “bottom rung” now sits at $10 per hour. In all, 4.3 million workers are slated to receive a hike as they earn less than the new minimum wage in their respective states. Well, that’s what’s meant to happen. Judging by the fallout from recent hikes, it seems things aren’t going according to plan.
- “We Are All Doing It”: Thousands Of Canadian Bankers Admit Lying To Customers To Boost Sales
Several days after shares of Canada's TD Bank tumbled following reports that its employees were engaging in practices similar to those which led to a major scandal at Wells Fargo, which cost CEO John Stumpf his job and led to bonus clawbacks and numerous terminations over the practice of “cross-selling”, employees from all five of Canada's big banks have flooded CBC's “Go Public” whistleblower hotline with stories of how they too feel pressured to upsell, trick and even lie to customers to meet unrealistic sales targets and keep their jobs. In nearly 1,000 emails, employees from RBC, BMO, CIBC, TD and Scotiabank locations across Canada describe the pressures to hit targets that are monitored weekly, daily and in some cases hourly. “Management is down your throat all the time,” said a Scotiabank financial adviser. “They want you to hit your numbers and it doesn't matter how.”
- Amazon is going to kill more American jobs than China did
Amazon.com has been crowing about its plans to create 100,000 American jobs in the next year, but as with other recent job-creation announcements, that figure is meaningless without context. What Amazon AMZN, +0.58% won’t tell us is that every job created at Amazon destroys one or two or three others. What Jeff Bezos doesn’t want you to know is that Amazon is going to destroy more American jobs than China ever did. Amazon has revolutionized the way Americans consume. Those who want to shop for everything from books to diapers increasingly go online instead of to the malls. And for about half of those online purchases, the transaction goes through Amazon.
- This Map Shows US States Renamed For Countries With Similar GDPs
The U.S. economy is so big that all of the individual states are comparable to entire countries… As Visual Capitalist's Jeff Desjardins notes, not surprisingly – big states like California, New York, and Texas are very similar in size to other formidable economies like France, South Korea, and Canada. Perhaps even more interesting, however, is that even small states are similar to the size of countries.
- Violent threats against the president are OK now?
Turn on TV or browse your newsfeeds on social media, and you will be bombarded with polemics about the sky falling and credible threats of violence against conservative figures. The FBI investigated a threat to kill Milo Yiannoupolis for the audacity to want to speak on a college campus. Threats against former Labor Secretary nominee Andy Puzder’s wife caused him to withdraw himself from consideration. Multiple intimidatory remarks haunted members of the Trump-voting Electoral College. President Trump has been the target of declarations of violence on a near daily basis. And yet, when it comes to this constant flow of threats, there seems to be little outrage from the nation’s leading journalists and pundits.
- Are Collapsing Pensions “About To Bring Hell To America”?
The toxic dollar is bringing hell in a handbasket. Along with the student loan debt bubble and other major financial factors, the looming pensions crisis is bound to be the death of us all. Because it’s based on a future promise to pay, it has long been a benefit dangled to solve strikes and union disputes – because, in the end, it is just more debt, whether private or public. With tens of trillions in unfunded liabilities, the weight of an avalanche remains dangling over our heads. An aging population is cashing in on needed retirement benefits while the younger generations must support multiples that are unsustainable financially.
- Intelligence Sources Reveal: Obama Used British Agents For Trump Wire Tap Surveillance
While President Obama has vehemently denied issuing direct orders to the Justice Department or other domestic agencies to monitor President Trump during the 2016 election campaign, it is common knowledge that the National Security Agency has the ability to access video and audio from any number of devices in real time. In fact, according to Edward Snowden and documented in the recently released Snowden motion picture, U.S. spy agencies can simply flip a switch to watch or listen in on anything going on in a particular room by turning on a particular device’s cameras and microphones.
- Canada Flagged For Recession By BIS
As if Canadians needed more proof that the country’s real estate is in a bubble, and that this misallocation has spread to other sectors of the economy, the Bank of International Settlements released its latest quarterly confirming what any critical observer can see: binging on debt is rarely a good idea. Canada’s debt-to-GDP gap is widening and even the central bank of central banks is concerned. The BIS uses its credit-to-GDP analysis as an indicator and predictor of troubling economic waters. They claim successes in predicting financial crises in the United States, England and a few other economies. Generally speaking, according to the BIS, when a country’s credit-to-GDP gap is higher than 10% for more than a few years, a banking crisis emerges which is followed by a recession.
- China Is Again Selling US Treasuries As Foreign Central Banks Liquidate $45BN
After December's brief dead cat bounce, in which foreign central banks bought $18.6 billion in US Treasuries, breaking a streak of 12 consecutive months of selling, in January they resumed their liquidation. According to the just released TIC data, foreign official institutions, which includes mostly central banks, but also sovereign wealth funds and various other official entities, sold another $44.9 billion in Treasuries, in line with the aggressive selling seen for most of 2016. Curiously, the sales by foreign central banks were largely offset by purchases by private holders, mostly corporate institutions and foreign retail investors, who bought $37.9 billion in the month, the most since last March when they acquired $41 billion. Combining the two, foreigners sold a total of $7 billion in TSYs in January.
- The Fed Just Gave Gold The Green Light To Move Higher
On March 1st the US economy gave the Fed an inflation scare. That's when the Fed's favorite inflation measure, the PCE Price Index, reported a breakout higher. Most Fed officials scrambled to announce they were flipping from dove to hawk. But that was then. Yesterday morning however, the CPI release calmed the Fed enough so that they stuck to their pre-March 1st original plans. The real news yesterday was that, after all that huffing and puffing from Fed officials for the last couple of weeks, in the end, aside from the quarter-point rate increase which was widely expected, not much really changed. That gives gold the green light to push higher.
- Steve Cohen Developing A.I. To Replace Expensive, Talentless Traders
Steve Cohen, the infamous billionaire hedgie who plead guilty to insider trading back in 2013 and paid a record $1.8 billion penalty, has never been shy about offering up his opinion on the lack of real trading ‘talent' in New York. Speaking at the Milken Institute Global Conference last May, Cohen said “Frankly, I’m blown away by the lack of talent…It’s not easy to find great people but we whittle down the funnel to maybe 2 to 4% of the candidates we’re interested in…talent is really thin.” And while we would be the last to argue that there's a huge pool of people in New York truly worthy of Cohen's coveted 8-digit salaries, we might suggest that in his particular case the pool of applicants may be somewhat limited to the select few people willing to risk jail time for their employer….but that's just pure speculation.
- Balance Of Student Loans In Default Soars To Over $137 Billion
Last week we noted a survey from LendEDU which found that 31% of college co-eds spend at least some portion of their student loan debt proceeds to fund week-long hedonistic, binge drinking trips to Cancun and Daytona Beach for spring break. And, just to add insult to injury, 24% said they spend those taxpayer-subsidized loan dollars on drinking at school and 7% even splurge on drugs (see “31% Of College Students Spend Their Loans On Spring Break”). In light of those findings, it probably shouldn't be terribly surprising that, according to new data published by the U.S. Department of Education, $137 billion of federal student loans were in default as of December 2016, a 14% year-over-year increase.
- Idaho House Votes Overwhelmingly To End Income Taxation Of Precious Metals
By an overwhelming 56-13 margin, the Idaho House of Representatives today voted to end all Idaho taxation on precious metals, e.g. gold and silver coins and bars. Bill sponsor Representative Mike Moyle (R) and the entire Republican caucus voted for the measure. If the Republican-controlled Idaho Senate follows suit and Governor Butch Otter (R) signs the bill, Idaho citizens will better be able to use gold and silver as a form of savings which protects against ongoing devaluation of America’s currency. Backed by the Sound Money Defense League, Idaho Freedom Foundation, Money Metals Exchange, and grassroots activists, HB 206 expands Idaho’s existing sales tax exemption to end Idaho income taxation of sales of “precious metals bullion” and “monetized bullion.”
- Jones Bootmaker woes leave 1,145 jobs at risk
There are hopes a buyer can be found for Jones Bootmaker as it stands on the cusp of falling into administration, placing 1,145 jobs at risk. The private equity owner of the 160-year old brand, Alteri Investors, has filed a notice to appoint administrators amid tough business conditions for the chain, which trades digitally and from 103 stores and concessions. The decision is designed to give it some breathing space from creditors seeking to recover debts from the footwear and accessories retailer while it seeks a new owner.
- Trumpcare: Different Plan, Same Problems
With his widely followed, and positively reviewed, address to Congress last week, President Trump showed how easy it could be to unite Washington around a big-budget centrist agenda on health care, immigration, taxes, infrastructure and the military. But the continued accusations surrounding his campaign’s alleged Russian connections, and the President’s conspiratorial responses, have insured that the battle lines have only hardened. However, anyone with even a casual concern with ballooning government debt should take notice just how easily both parties in Washington would agree to vastly expand the gushing red ink if a political truce can be brokered. Those fears should galvanize around the newly-issued Republican replacement for Obamacare. If such a monstrous bill could successfully navigate Congress, we would find ourselves stuck deeper in a deficit deluge than we can possibly imagine.
- Ancient Babylonian Banking and Our Modern Financial System
Ancient Babylonia is known as the “cradle of civilization,” because it helped develop many important parts of our modern society, from laws (Code of Hammurabi) to advancements in astronomy and architecture. It also helped establish rules and procedures that have influenced modern day banking institutions. A quick look back at Babylonian finance provides insights into the basics of how our financial systems work today.
- Gold Surges Most Since Brexit After ‘Dovish' Fed Hike
With the focus overnight on the Rutte ‘win' despite the surge in populist angst, and headlines from The Fed, PBOC, BoJ, and BoE sending global stocks to record highs, one might be forgiven for not noticing that Gold is surging (most since Brexit) following Janet's decision to raise rates for the 3rd time in 11 years – far outperforming other assets classes. The Dollar continued to get pounded overnight as China unexpectedly tightened policy…
- Brexit Bill granted royal assent giving PM power to trigger Article 50
Theresa May has been given the legal power to start Brexit talks after the Queen granted royal assent to the Article 50 Bill. Speaker John Bercow told MPs that the European Union (Notification of Withdrawal) Bill, which was passed by MPs and peers on Monday, had received its final sign off, prompting cheers from the Conservative benches. Mrs May has said she will invoke Article 50, the legal mechanism for withdrawal from the EU, by the end of the month in what will be a “defining moment” for the country.
- Pastor Lindsey Williams introduces Pastor David Bowen – March 17, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter.
Latest News From March 10, 2017 to March 16, 2017:
- Eric Peters: “If China And The World Bank Are Right, We're Headed For A Depression”
“Some people blindly invested offshore and were in a rush to do so,” explained China’s central bank chief, justifying his recent capital controls. “Some of this outbound investment was not in line with our own policies and had no real gain for China.” No doubt he’s right. The tycoons fleeing Chinese capital markets have done so selfishly. “So to regulate capital flows, I think it is normal,” concluded the central banker. Chinese credit relative to GDP has doubled in the past decade to 300%. Which remains less than the US at 350%, but the rate of Chinese credit growth is as unsustainable as it is difficult to reverse — without tanking the economy. The tycoons are running from this dynamic. Because such loops almost always end badly.
- US Government Revenues Suffer Biggest Drop Since The Financial Crisis
On the surface, today's monthly budget statement was disappointing: in February the US Treasury brought in total receipts of $172 billion, versus outlays of $364 billion, resulting in a decicit of $192 billion, more than tha $190 billion expected (if in line with last year's $192.6 billion deficit). For the fiscal year through Feb. 28, the total US budget deficit was $349 billion, virtually identical to the $351 billion deficit over the same period in 2016 and set to keep rising this year and for the foreseeable future.
- Credit Reports to Exclude Certain Negative Information, Boosting FICO Scores
Many tax liens and civil judgments soon will be taken off people’s credit reports, the latest move to omit negative information from the powerful financial scorecards. The decision by the three major credit-reporting firms— Equifax Inc., Experian PLC and TransUnion—could help boost credit scores for millions of U.S. consumers, but could pose risks for lenders. The reports and scores often help decide how much consumers can borrow for a new house or car as well as determine their credit-card spending limit.
- Former Congressman Dennis Kucinich Warns Congress that CIA Wiretaps Are Real and It Happened to Him
Restive cerements of the left have given pard-like support for the CIA — believing the motives of the heralded agency to be only just and honorable, in spite of all of the evidence suggesting otherwise. Hysterically, it was the left who've always been reticent about the motives of the CIA. According to a poll done by the WSJ/NBC, support for the CIA is soaring in recent months, alongside cognitive dissonance — due to ephemeral dreams of deep state coups being plotted against the Trump regime.
- American Men Are Giving Up On Jobs
I’ve written about this before, but there are 10 million American males between the age of 24 and 64 who have literally dropped out of the workforce. It means that they have given up on finding a job or are simply not looking. But, focusing on just one subset among those who are 24–64, we see that white working-class males’ labor force participation rate has dropped to 59%. The Economist has created something called a Forgotten Men Index, which shows the gap between white working-class men in particular and all men in general. I bring this data up because white working-class men have become the focus of much current political discussion. The participation numbers are similar or worse for other racial categories except for Asians.
- FBI Used Best Buy's Geek Squad To Increase Secret Public Surveillance
Recently unsealed records reveal a much more extensive secret relationship than previously known between the FBI and Best Buy's Geek Squad, including evidence the agency trained company technicians on law-enforcement operational tactics, shared lists of targeted citizens and, to covertly increase surveillance of the public, encouraged searches of computers even when unrelated to a customer's request for repairs.
- Fed may have to accelerate rate rises to accommodate Trump policies: ECB's Visco
The economic policies of U.S. President Donald Trump could hurt global trade and could speed up an increase in U.S. interest rates, European Central Bank policy maker Ignazio Visco said on Monday. “Given the current situation of the U.S. economy, which is close to full employment, strong fiscal expansion risks having a pro-cyclical impact,” Visco said in a speech at the Italian foreign ministry. “In such a case, the process of normalizing monetary conditions undertaken by the Federal Reserve could be less gradual,” said Visco, who sits on the ECB Governing Council and is the governor of the Bank of Italy.
- Huge Oil Find Could Save Alaska's Oil Sector
Spanish oil firm Repsol SA just announced the largest onshore oil discovery in the U.S. in three decades, a 1.2 billion barrel find on Alaska’s North Slope. Repsol has been actively exploring in Alaska since 2008 and finally hit a big one. The find came after drilling two wells with its partner, Armstrong Oil & Gas. Repsol says that it if it moves forward and develops the project, first oil could come by 2021. The field could produce 120,000 bpd, a significant volume given the predicament the state of Alaska finds itself in.
- Gander Mountain files Ch. 11 bankruptcy, closing 32 stores
Outdoor and sporting goods retail chain Gander Mountain says it plans to shut down 32 stores as part of a Chapter 11 bankruptcy filing. Gander Mountain announced on Friday that it plans to remain open, but is putting the business up for sale. Thirty-two under performing retail locations will begin a shutdown process in the next several weeks, according to the company. The list of stores slated for closing does not include the recently remodeled Gander Mountain at the Eastwood Mall Complex in Niles.
- 2016 Debt Binge Produces (Surprise!) 2017 Inflation. Guess What That Means For 2018?
Just as everyone was finally accepting the idea of deflation and negative interest rates, inflation decides to pay a return visit. In the past day, articles with the following headlines appeared in major publications around the world: Swiss inflation rises at highest monthly rate in 5 years. China February producer inflation fastest in nearly nine years. Year-over-year import prices at highest level in five years. ECB keeps bond-buying, rates unchanged amid inflation flare-up. Food inflation doubles in a month as UK shoppers start to feel the pinch. What happened? Well, towards the end of 2015 most of the world’s major governments apparently got spooked by deflation and decided to ramp up their borrowing and money creation.
- The Conflict within the Deep State Just Broke into Open Warfare
When do the unlimited powers of the Intelligence/Security agencies threaten America’s domestic and global national interests? The CIA and its political enablers claim the agency’s essentially unlimited powers, partially revealed by Wikileak’s Vault 7, pose no threat to America’s interests, since they are intended to “defend” American interests. This is the rationale presented by neocon CIA allies in both political parties: the CIA can’t possibly threaten America’s interests because the CIA defines America’s interests. This is the wormhole down which civil liberties and democracy have drained. It is an extraordinarily defining moment in American history when the director of the FBI publicly declares that there is no such thing as “absolute privacy” in the U.S.
- U.S. Crude Stockpiles Soar, Gasoline Inventory Plunges
U.S. crude oil inventories surged last week to another record high, while gasoline stocks went the other direction, posting their largest one-week drop in nearly six years, the Energy Information Administration said on Wednesday. Crude inventories rose 8.2 million barrels in the week to March 3, compared with analysts’ expectations for a 2 million-barrel build. Most of that – 4.6 million barrels – came from an unexpectedly large surge in stocks on the west coast. The ninth weekly crude build boosted total stockpiles, excluding the nation’s strategic petroleum reserves, to a fresh record of 528.4 million barrels.
- Goldman Sachs: Zero Upside Left For Stocks This Year
After the inflation in P/E multiples has sent the S&P500 to to a level above the 90% percentile of all historical valuations, Goldman has called a time out. The venerable firm says that there will be no more multiple expansion this year. As a result only one thing will push stock prices higher “as equity valuations compress as interest rates rise” – higher profits.
- OPEC Back In Focus Amid Oil’s Latest Collapse
OPEC and the U.S. continue to fight for dominance in the global oil market. The battle has been recently been defined by OPEC’s production cuts, but new U.S. shale production has been countering strongly as of late. Despite the current supply glut (especially in the United States), the price of oil has been kept in the lofty $50s for a while now, ever since OPEC and Russia agreed to restrict 1.8 million barrels of crude oil from the world market. The higher prices have led to higher profits, however, even in the U.S. These prices have incentivized increased U.S. production, allowing companies to be drilling at their highest rates in over a year, posed to reach record levels by year-end.
- The American Media Hide From The Truth
The CIA created and accumulated from other sources a huge array of malware and cyber attack capability capable of stealing information from any individual, any government, any corporation, any intelligence agency and either leaving no trace or leaving a “fingerprint” of an innocent party. The CIA, being arrogant and incompetent, lost control over its monster which escaped and now is in the hands of we know not who. Floating around the Internet, it was sent to WikiLeaks.
- The US government now has less cash than Google
In the year 1517, one of the most important innovations in financial history was invented in Amsterdam: the government bond. It was a pretty revolutionary concept. Governments had been borrowing money for thousands of years… quite often at the point of a sword. Italian city-states like Venice and Florence had been famously demanding “forced loans” from their wealthy citizens for centuries.
- When will Brazil emerge from the worst ever recession?
Try as they may, Brazil’s legislators have been unable to carve a dent in what has now become the worst recession in the country’s history. Recent data from the Instituto Brasileiro de Geografia e Estatística (IBGE) – the country’s official statistics agency – shows that Brazil’s GDP growth contracted by 3.6 per cent in 2016. This puts immense pressure on President Michel Temer who is already fighting on multiple fronts. He faces a number of corruption charges, has a popularity rate around 10 per cent according to pollsters, and has been struggling to push through radical, if not controversial, reform measures in congress.
- $21,714 For Every Man, Woman And Child In The World – This Global Debt Bomb Is Ready To Explode
According to the International Monetary Fund, global debt has grown to a staggering grand total of 152 trillion dollars. Other estimates put that figure closer to 200 trillion dollars, but for the purposes of this article let’s use the more conservative number. If you take 152 trillion dollars and divide it by the seven billion people living on the planet, you get $21,714, which would be the share of that debt for every man, woman and child in the world if it was divided up equally. So if you have a family of four, your family’s share of the global debt load would be $86,856.
- Trump Needs a War Team
Former Assistant Secretary of Housing and financial advisor Catherine Austin Fitts says the Trump Administration is at the beginning of a long war against his deep state enemies. Fitts recommends, “I don’t think it’s an accident that WikiLeaks dumps out documents proving that the CIA has the capacity to do a hack and make it look like the Russians. So, what we are watching are war games. This is like chess. You try to take out the lieutenants before you take out the queen. . . . My guess is you have very significant capacity on the Democrat side, literally hundreds of people and law firms doing surveillance and intelligence, and figuring out how they can weaken the Trump team. Now, what we see coming back the other way, including the WikiLeaks dumps, there is clearly capacity on the other side. The Trump team is going to have to build two lines. The key to being successful in an operation like this is you need a team. In the story of Nehemiah, when the wall was broken, they needed a tool in one hand and a weapon in another. Trump is going to have to put together a war team that can handle and manage the warring back and forth between the factions. You do not want that war to interrupt or undermine your management team. You’ve got to have your Cabinet, and their job is to “Make America Great Again.” Ultimately, that’s how you are going to be judged, and the general population will support you if you keep doing that. You don’t want your team to be buried by war games.”
- Noah’s Flood of Cash Coming
Mexican billionaire and retail magnate Hugo Salinas Price is a big proponent of using silver as money in Mexico. Salinas Price explains, “The idea is not to go back to a silver standard, but to create a parallel currency which would be a monetized silver coin. It would not bear a stamped value. It would be a plain silver coin with a quoted value given to it. This value would be adjusted upward with a fall in the value of the peso or a rise with the price of silver.” Salinas Price pushed ideas similar to this in the past. This idea is being talked about again in the Mexican legislature, but there is no guarantee it will become a reality. Why silver coins for the Mexican people? Salinas Price says, “All material progress comes from saving, not from spending. You have to save first, and from savings comes investment, and from investment comes jobs and income for a better way of life. Savings are the primary source of prosperity.”
- Are Germans About to Be Made to Pay for Their Love of Cash?
Germany loves physical money. According to a Bundesbank study, approximately 80% of payments in Germany are made in cash. Even among millennials, two-thirds say they prefer paying in cash to electronic means, a much higher level than in almost any other advanced economy with the exception of Japan. This is a big problem for a European establishment that is desperate to consign physical money to the scrap heap. Some countries, including France and Spain, have already set maximum cash limits of €1,000. Greece has dropped its cap for cash transactions from €1,500 to €500.
- FBI Director Gives Shocking News to Americans: Privacy Is ‘Dead’
Welcome to the information age, where everything you do or say can and will be monitored and used against you. Your constitutional right to privacy? Forget about it! At least according to FBI Director James Comey who delivered this chilling line at a recent cybersecurity conference “There is no such thing as absolute privacy in America; there is no place outside of judicial reach,” and with the information revealed by the WikiLeaks Vault 7 documents, we know that their capability extends far beyond ‘judicial reach’.
- How Will Stocks Come Unglued? Wolf Richter on the Keiser Report
In the first and hilarious section of the Keiser Report, Stacy Herbert and Max Keiser discuss how artificial intelligence and machines are replacing lawyers and other creatures, and what in the end will come of humans. My interview with Max Keiser starts 11:50 minutes into the video. We discuss what caused the S&P 500 index to soar 87% since 2011, even as aggregate earnings of the companies in the index in 2016 were back where they’d been in 2011. In other words, what caused stocks to skyrocket over five years, even as earnings went nowhere? And how will the equation come unglued?
- U.S. Health Care Ranked Worst in the Developed World
The U.S. health care system has been subject to heated debate over the past decade, but one thing that has remained consistent is the level of performance, which has been ranked as the worst among industrialized nations for the fifth time, according to the 2014 Commonwealth Fund survey 2014. The U.K. ranked best with Switzerland following a close second. The Commonwealth Fund report compares the U.S. with 10 other nations: France, Australia, Germany, Canada, Sweden, New Zealand, Norway, the Netherlands, Switzerland and the U.K. were all judged to be superior based on various factors. These include quality of care, access to doctors and equity throughout the country. Results of the study rely on data from the Organisation for Economic Co-operation and Development, the World Health Organization and interviews from physicians and patients.
- 10 Things You Didn’t Know About The CIA Before Last Week
WikiLeaks’ Vault 7 release of Central Intelligence Agency (CIA) documents yesterday opened eyes worldwide about an agency President John F. Kennedy once vowed to “splinter…into a thousand pieces and scatter it into the winds.” Here’s a comprehensive list of ten things we didn’t know about the CIA before last week leak: 1. The CIA has an illegal domestic spying apparatus similar to the NSA. 2. The CIA has a secret base in Germany. 3. The CIA has a cyber group dedicated to forging other countries digital fingerprints in false-flag attacks. 4. The CIA can spy on you through your smart TV and tap into the microphone. 5. The CIA can spy on you through any tablet or phone. 6. The CIA can transcribe your Skype conversations. 7. The CIA has exploits for every major Anti-virus software provider and major personal computer software programs, including Microsoft Word, VLC, and all operating systems. 8. The CIA can hack vehicle control modules including cars, trains, and planes. 9. The CIA has an air gap virus that can infect systems even if not connected to the internet. 10. The CIA has a Meme Warfare Center. The meme war – is real.
- U.K. Parliament Gives Theresa May Approval To Start Brexit
Moments ago, UK Parliament passed legislation giving prime minister Theresa May approval to start the Brexit process and allowing the government to invoke Article 50, with the House of Commons overturning amendments from the unelected House of Lords that sought to limit May’s room for maneuver. While press reports earlier said May could trigger Article 50 as early as Thursday, subsequent reports from Bloomberg suggested that she will commence Brexit in the last week of March. The victory for May in Parliament, where she has a slim majority, allows her to negotiate Brexit with a free hand and consolidates her hold on power in the ruling Conservative Party. That said, according to Bloomberg she now faces the simultaneous challenge of pulling Britain out of the EU on good terms while navigating a second constitutional upheaval: Scotland’s renewed bid for independence.
- New York City Rents Crash Again In February Under Weight Of “So Much Inventory”
After years of gouging the precious, Ivy League snowflakes that flood Manhattan every summer with nothing but their $10 million inheritance checks, a dream and the Faconnable shirts on their back, New York City landlords, courtesy of the flood of new apartment supply coming online, are being forced to offer record-high rent concessions to attract tenants. Per the latest February 2017 rental report from Douglas Elliman, the number of new leases signed on Manhattan apartments crashed 27.9% YoY as listing inventory surged 11.7% and median rental prices dropped 1.7%. Meanwhile, even a massive increase in the share of apartments carrying rent concessions, which averaged 1.2 months of free rent, wasn't enough to spark demand.
- Trump budget expected to seek historic contraction of federal workforce
President Trump’s budget proposal this week would shake the federal government to its core if enacted, culling back numerous programs and expediting a historic contraction of the federal workforce. This would be the first time the government has executed cuts of this magnitude — and all at once — since the drawdown following World War II, economists and budget analysts said. The spending budget Trump is set to release Thursday will offer the clearest snapshot of his vision for the size and role of government. Aides say that the president sees a new Washington emerging from the budget process, one that prioritizes the military and homeland security while slashing many other areas, including housing, foreign assistance, environmental programs, public broadcasting and research. Simply put, government would be smaller and less involved in regulating life in America, with private companies and states playing a much bigger role.
- Canada's New Blasphemy Laws
A resolution, M-103, seeking to condemn so-called “Islamophobia,” was introduced a few weeks ago in the peaceful country of Canada by Liberal Party MP Iqra Khalid in the House of Commons, sparking a controversy. A similar motion, labelled M-37, was later tabled in the Ontario provincial legislature by MPP Nathalie Des Rosiers on February 23, 2017, and was passed by the provincial parliament. M-37, like its predecessor, demanded that lawmakers condemn “all forms of Islamophobia” and reaffirm “support for government efforts, through the Anti-Racism Directorate, to address and prevent systemic racism across government policy, programs and services”. Although these motions are not legally binding, extremists have already started demanding them as laws.
- Greece introduces cashpoint tax in desperate bid to raise revenue and stop run on banks as country teeters on brink of bankruptcy
Greece has revealed it is to introduce a surcharge for all cashpoint withdrawals and financial transactions in a desperate attempt to prevent citizens withdrawing their money from the country's beleaguered banks. Ministers hope the controversial move could raise as much as €180 million, which the Athens government hopes will help the country avoid defaulting on debts owed to international creditors. As the Greek economy teeters on the verge of bankruptcy, millions of panicking citizens have completely cleared their accounts – pulling more than €28 billion out of banks and pushing the total cash revenue held in the country's financial institutions to a 10-year low.
- Widespread AT&T Outages Reported Across The U.S.
Two weeks after a massive Amazon cloud outage crippled numerous websites on the East Coast, this morning users of AT&T across the nation are reporting widespread outages in their cellphone service. This appears to be confirmed by the current downdetector.com data on reported problems with the cellphone carrier. Twitter users from around the country have confirmed the interruption in service. While some have joked that AT&T has activated the downtime to remove embedded CIA eavesdropping features, for now there has been no official statement from AT&T… or from the crack team of Kremlin-controlled spies for that matter.
- California Is Exporting Its Poor To Texas
California exports more than commodities such as movies, new technologies and produce. As The Sacramento Bee reports, it also exports truck drivers, cooks and cashiers. The leading destination for those leaving California is Texas, with about 293,000 economically disadvantaged residents leaving and about 137,000 coming for a net loss of 156,000 from 2005 through 2015. Next up are states surrounding California; in order, Arizona, Nevada and Oregon. Losing impoverished residents to other states is better for the state’s economy than losing wealthy residents, some experts said. But they said the migration itself is a symptom of deeper social problems largely related to how expensive California has become.
- Iceland to end capital controls from 2008 financial crisis
Iceland will lift all capital controls on its citizens, businesses and pension funds from Tuesday. Capital controls, such as those to restrict money flowing in and out of the country, were imposed in 2008 after the country's biggest banks collapsed. The government thinks the economy has recovered sufficiently to end controls. Controls were imposed after the collapse of the country's three biggest banks – Glitnir, Landsbanki and Kaupthing. At the same time Iceland's national currency, the krona, fell in value. The removal of the capital controls – which helped stabilise the currency and economy during the country's financial crash – represents the completion of Iceland's return to international financial markets.
- “Who Hit The Brakes?” – Bank Loan Creation Suddenly Tumbles To Five Year Low
While the overall economy appears to be humming along, at least according to the Fed which on Wednesday is expected (with 100% certainty according to the market) to hike rates by 25bps for the second time in three months on concerns it has fallen behind the inflationary curve, with last week's payrolls report providing some validation despite prevailing weakness within “hard data” in recent months offset by soaring “soft” sentiment reports, one area of material concern has emerged: a sudden collapse in loan growth in general, and the all important Commercial and Industrial Loan segment in particular, a drop which the WSJ recently dubbed an “ominous economic signal” and blamed policy uncertainty under Trump for the collapse in growth.
- Woman asks ALEXA “Are You Connected To The CIA?” ALEXA – Who supposedly can't lie – Refuses to Answer
So, this happened. Following Wikileaks Vault 7 release alerting Americans to the fact that the CIA is using tons of exploits to turn all sorts of internet-connected smart devices into surveillance microphones, granting the intelligence agency access to millions of people’s private homes, people started asking questions. Namely, this woman below asked her ever-listening Amazon Echo device if it is connected to the CIA. Well, first she asks Alexa if Alexa would lie, then makes sure Alexa knows what the CIA is. Twice she asks Alexa if she’s connected to the CIA… and twice Alexa refuses to answer. Must go against the “cannot tell a lie” protocol. After this video went viral, Amazon sent Alexa an updated way to answer the question… which still doesn’t really answer the question. Or does it?
- Samsung Will Shift Manufacturing from Mexico to U.S., Invest $300 Million
Samsung announced an investment in expanding production in the United States this week, according to The Wall Street Journal. According to sources close to the company, the initial capital investment will total close to $300 million and will involve shifting some production from Mexico to the United States. The sources claim that the move could generate around 500 jobs. Samsung, which is based in Seoul, South Korea, may increase manufacturing of home appliances such as refrigerators, washer, and dryers in the United States. According to The Wall Street Journal, the decision to move production to the United States was influenced by President Trump after he campaigned to move manufacturing jobs for products bought in the United States from overseas into this country.
- NASA-funded study: Over 32 advanced civilizations have collapsed before us, and we’re next in line.
As any long-time reader of this column knows, we routinely draw from historical lessons to highlight that this time is not different. Throughout the 18th century, for example, France was the greatest superpower in Europe, if not the world. But they became complacent, believing that they had some sort of ‘divine right’ to reign supreme, and that they could be as fiscally irresponsible as they liked. The French government spent money like drunken sailors; they had substantial welfare programs, free hospitals, and grand monuments.
- Trump's first full month in office brings massive employment boom as U.S. companies added whopping 298,000 new jobs in February
U.S. companies added a whopping 298,000 new jobs in February, beating economists' expectations by more than 100,000. The report from ADP, a global human resources and payroll firm, provides the first hard economic numbers from Donald Trump's first full month as president. Trump tweeted a self-congratulatory note, calling the number ‘much more than expected!' He also wrote Wednesday on Twitter about another similar measure, citing numbers from a new LinkedIn workforce report that showed strong job-adding numbers from January and February.
- Exclusive: Mexico cancels sugar export permits to U.S. in trade dispute
Mexico has canceled existing sugar export permits to the United States in a dispute over the pace of shipments, according to a letter seen by Reuters, in a flare-up industry sources said could temporarily disrupt supplies. The letter sent by Mexico's sugar chamber to mills on Monday partly blamed the situation on unfilled positions at the U.S. Department of Commerce, which it said has led to a “legalistic” interpretation of rules with no U.S. counterparts in place in Washington for Mexican officials to negotiate with. The cancellations are the latest dispute of a years-long trade row between Mexico – the United States' top foreign supplier of sugar – and its neighbor at a time when cane refiners are struggling with prices and tight supplies, U.S. industry sources said.
- Urban Outfitters CEO Says the Retail Bubble Has Burst
Shares of Urban Outfitters Inc. and Express Inc. fell on Wednesday after the apparel chains gave a dour outlook for the industry, renewing concerns about America’s overabundance of retail stores. Urban Outfitters’ fourth-quarter earnings fell short of estimates, and same-store sales were flat. At Express, sales tumbled 13 percent on that basis last quarter. The company warned that it may post a loss this quarter, surprising analysts. Clothing sellers are struggling to cope with slow foot traffic at malls and a shift to e-commerce. The industry also has had to rely more heavily on discounts to attracts shoppers, weighing on margins. Urban Outfitters Chief Executive Officer Richard Hayne said the holiday season was disappointing, with higher markdowns than expected.
- Burger-flipping robot replaces humans on first day at work
A burger-flipping robot has just completed its first day on the job at a restaurant in California, replacing humans at the grill. Flippy has mastered the art of cooking the perfect burger and has just started work at CaliBurger, a fast-food chain. The robotic kitchen assistant, which its makers say can be installed in just five minutes, is the brainchild of Miso Robotics. “Much like self-driving vehicles, our system continuously learns from its experiences to improve over time,” said David Zito, chief executive officer of Miso Robotics.
- Global Leaders Rattle Their Sabers As The World Marches Toward War
Iran just conducted another provocative missile test, more U.S. troops are being sent to the Middle East, it was just announced that the U.S. military will be sending B-1 and B-52 bombers to South Korea in response to North Korea firing four missiles into the seas near Japan, and China is absolutely livid that a U.S. carrier group just sailed through contested waters in the South China Sea. We have entered a season where leaders all over the globe feel a need to rattle their sabers, and many fear that this could be leading us to war. In particular, Donald Trump is going to be under the microscope in the days ahead as other world leaders test his resolve. Will Trump be able to show that he is tough without going over the edge and starting an actual conflict?
- 16 Reasons Why You Shouldn’t Live In California
It has been said that “as California goes, so goes the nation”. That is why it is such a shame what is happening to that once great state. At one time, California seemed to be the epicenter of the American Dream. Featuring some of the most beautiful natural landscapes in the entire world, the gorgeous weather and booming economy of the state inspired people from all over the world to move to the state. But now people are moving out of the state by the millions, because life in California has literally become a nightmare for so many people. I certainly don’t have anything against the state personally. My brother and sister were both born there, and I spent a number of my childhood years in stunning northern California. When I was younger I would sometimes dream of getting a place on the coast eventually, but for reasons I will discuss I no longer think that would be advisable.
- The Dark Secrets Of The Catholic Church Are Starting To Come Out
We aren’t supposed to talk about what goes on behind closed doors when the cameras are off and the public can’t see what is happening. There is corruption in virtually every large organization, but those that hold themselves out as “spiritual leaders” need to understand that they are going to be held to a higher standard than everyone else. And when those “spiritual leaders” greatly violate the trust that the public has put in them, the fallout can be absolutely devastating. In this article you are going to read about some things that are deeply disturbing. An immense wave of evil has swept through major religious organizations, and the Catholic Church is certainly no exception.
- Bitcoin crashes after SEC rejects Winklevoss ETF
The price of the digital currency bitcoin has been flying for the last few weeks, reaching an all-time high today of $1,350 per coin just this week. But on Friday afternoon it began plummeting. Here’s why: the SEC on Friday released a long-awaited ruling on an application for a bitcoin ETF (exchange-traded fund) submitted by Cameron and Tyler Winklevoss of Facebook fame. The SEC denied the proposal—brutally.
- Is The Left Trying To Start A Civil War?
An army of subversives is attempting to undermine the Trump administration from within the government, and at the same time a whole host of prominent leftist leaders are fueling the flames of hate against Trump and are promoting riots, civil uprisings and in some cases even violence. And of course the mainstream media is a more than willing accomplice, because pretty much everyone that works in the mainstream media absolutely hates Donald Trump. On a fundamental level, the United States is more divided today than it has been in any of our lifetimes, and the radical left is treating the presidency of Donald Trump as if it was the end of the world. We are seeing terms such as “Nazi”, “racist” and “dictator” thrown around very casually, but people need to understand that words really matter. When subversives on the left use such inflammatory language, there is a very real danger that they could actually spark a violent insurrection against the United States government.
- This Region Of The World Is Being Hit By The Worst Economic Collapse It Has Ever Experienced
The ninth largest economy in the entire world is currently experiencing “its longest and deepest recession in recorded history”, and in a country right next door people are being encouraged to label their trash so that the thousands upon thousands of desperately hungry people that are digging through trash bins on the streets can find discarded food more easily. Of course the two nations that I am talking about are Brazil and Venezuela. The Brazilian economy was once the seventh largest on the globe, but after shrinking for eight consecutive quarters it has now fallen to ninth place. And in Venezuela the economic collapse has gotten so bad that more than 70 percent of the population lost weight last year due to a severe lack of food. Most of us living in the northern hemisphere don’t think that anything like this could happen to us any time soon, but the truth is that trouble signs are already starting to erupt all around us. It is just a matter of time before the things currently happening in Brazil and Venezuela start happening here, but unfortunately most people are not heeding the warnings.
- Every ‘Conspiracy Theorist’ In America Has Just Been Vindicated…
Yes, the government can use your phone, your computer and even potentially your television to spy on what you are doing inside your own home. On Tuesday, Wikileaks released thousands of documents that prove what virtually every “conspiracy theorist” in America has been saying for years about government spying. And I don’t even like to use the term “conspiracy theorist” much, because the truth is that most “conspiracy theorists” are simply citizen journalists that are attempting to expose things that the mainstream media doesn’t want to talk about. And one of the things that the mainstream media has always been hesitant to address is the unconstitutional surveillance that U.S. intelligence agencies systematically conduct on their own citizens.
- A Third Of All U.S. Shopping Malls Are Projected To Close As ‘Space Available’ Signs Go Up All Over America
If you didn’t know better, you might be tempted to think that “Space Available” was the hottest new retail chain in the entire country. As you will see below, it is being projected that about a third of all shopping malls in the United States will soon close, and we just recently learned that the number of “distressed retailers” is the highest that it has been since the last recession. Honestly, I don’t know how anyone can possibly believe that the U.S. economy is in “good shape” after looking at the retail industry. In my recent article about the ongoing “retail apocalypse“, I discussed the fact that Sears, J.C. Penney and Macy’s have all announced that they are closing dozens of stores in 2017, and you can find a pretty comprehensive list of 19 U.S. retailers that are “on the brink of bankruptcy” right here. Needless to say, quite a bloodbath is going on out there right now.
- UN experts denounce ‘myth' pesticides are necessary to feed the world
The idea that pesticides are essential to feed a fast-growing global population is a myth, according to UN food and pollution experts. A new report, being presented to the UN human rights council on Wednesday, is severely critical of the global corporations that manufacture pesticides, accusing them of the “systematic denial of harms”, “aggressive, unethical marketing tactics” and heavy lobbying of governments which has “obstructed reforms and paralysed global pesticide restrictions”. The report says pesticides have “catastrophic impacts on the environment, human health and society as a whole”, including an estimated 200,000 deaths a year from acute poisoning. Its authors said: “It is time to create a global process to transition toward safer and healthier food and agricultural production.”
- Is Janet Yellen Trying to Trigger a Recession For Political Purposes?
Trump might want to put a call in to Janet Yellen. The Fed is supposed to be a neutral, independent entity. However, that myth went out the window when Bernanke “gifted” QE 3 to Obama in 2012 to aid with the latter’s re-election bid. The Yellen Fed seems to be even more committed to defining the Fed as nothing more than a leftist establishment mechanism. Back in October when it still looked like Hillary Clinton would win the 2016 Presidential election, Yellen commented that she was considering letting the economy run “hot” meaning allowing inflation to rise without implementing additional rate hikes. One month later, Donald Trump won the Presidency and Yellen announced she wanted to hike rates in December with three more additional hikes in 2017.
- Austria To Stop Giving Food, Shelter To Rejected Asylum Seekers
In a bill aimed at encouraging asylum seekers to leave voluntarily, Austrian lawmakers are considering halting the provision of food and accommodation to migrants who are denied asylum and refuse to leave the country. Austria took in roughly 90,000 asylum seekers in 2015, more than 1 percent of its population, as it was swept up in Europe's migration crisis when hundreds of thousands of people crossed its borders, most on their way to Germany. As Reuters notes, it has since tightened immigration restrictions and helped shut down the route through the Balkans by which almost all those people – many of them fleeing war and poverty in the Middle East and elsewhere – arrived. Asylum applications fell by more than half last year.
- BIS Admits TARGET2 Is A Stealth Bailout Of Europe's Periphery
While debates over the significance of the Eurosystem's TARGET2 imbalances may have faded into the background now that sovereign yields in the Eurozone remains broadly backstopped by the ECB's debt monetization generosity, and fears about an imminent European breakdown fall along the lines of populist votes more than concerns about lack of funding, the BIS has finally chimed in with the truth about what the TARGET2 number really showed. As a reminder, in mid 2012, financial pundits “discovered” the gaping imbalances building up within the Eurozone, as a result of a huge increase in TARGET2 claims at the Bundesbank, offset by a matched surge in liabilities across the European periphery, most notably Italy and Spain.
- Eurozone Capital Flight Intensifies: Target2 Imbalances Widen Again
A quick perusal of Target2 Balances for January shows capital flight from Italy and Spain to Germany intensified again. German target2 imbalances exceed levels hit in the Eurozone crises in 2012. Things improved considerably after ECB president Mario Draghi made his famous statement “Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough”. The ECB claims this action is due to its bond-buying program. I strongly disagree.
- Albert Edwards: “Let Me Tell You How This All Ends”
The dollar's recent rapid slide has been accompanied by a constant backdrop of dovish cooing from the Fed. Until this week, SocGen's Albert Edwards notes that both equity and commodity markets had embraced the weak dollar as the elixir to solve all their ills. That relief, however, has now proved fleeting as fear of weak economic activity has reasserted its influence on investors. The weak dollar, Edwards warns, should be seen as merely a shuffling of deckchairs on the Titanic before the global economy sinks below the icy waves. Risk assets are once again refocusing on the increasingly dismal prospects for global growth rather than the short-term relief of dollar weakness, according to SocGen's inimitable Albert Edwards. The US remains the main concern, although the rapid unravelling of Abenomics in Japan and a likely imminent tightening of monetary policy in China to snuff out yet another housing bubble in the major cities also feature high on investors' worry list.
- Pastor Lindsey Williams introduces Pastor David Bowen – March 9, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter.
Latest News From March 3, 2017 to March 9, 2017:
- Greyerz – Global Panic Is Now Only Days Away
With continued uncertainty around the globe, today the man who has become legendary for his predictions on QE, historic moves in currencies, told King World News that global panic is now only days away. Global Panic Is Now Only Days Away. Egon von Greyerz: “In the Roman calendar, the Ides of March was the same as March 15th in today’s calendar. This date was not significant until Julius Caesar was assassinated on 15 March 44BC. Shakespeare then coined the phrase “Beware of the Ides of March” in his Julius Caesar work…
- “It's A Declaration Of War”: South Africa's President Calls For Confiscation Of White Land
After South Africa's embattled president Jacob Zuma pledged, in a surprising address to parliament one month ago, to break up white ownership of business and land to reduce inequality (in a State of the Nation address which was disrupted by a fistfight), it now appears that Zuma's intentions to convert what was until recently Africa's most prosperous economy into a new Zimbabwe were all too real, and as the Telegraph reports, the South African president officially called on parliament to change South Africa’s constitution to allow the expropriation of white owned land without compensation. Zuma, 74, who made the remarks in a speech on Friday morning, said he wanted to establish a “pre-colonial land audit of land use and occupation patterns” before changing the law.
- Arizona Challenges The Fed's Money Monopoly
History shows that, if individuals have the freedom to choose what to use as money, they will likely opt for gold or silver. Of course, modern politicians and their Keynesian enablers despise the gold or silver standard. This is because linking a currency to a precious metal limits the ability of central banks to finance the growth of the welfare-warfare state via the inflation tax. This forces politicians to finance big government much more with direct means of taxation. Despite the hostility toward gold from modern politicians, gold played a role in US monetary policy for sixty years after the creation of the Federal Reserve. Then, in 1971, as concerns over the US government’s increasing deficits led many foreign governments to convert their holdings of US dollars to gold, President Nixon closed the gold window, creating America’s first purely fiat currency.
- Germany's Jihad On Freedom Of Speech
Carnival in Germany is a time for some light-hearted fun, fancy costumes and political satire. This year, many German cities held traditional float parades on Rosenmontag, or Rose Monday, many of which depicted political themes. Images of U.S. President Donald Trump took centre stage in many float processions, in some instances with his decapitated head held up high by the Statue of Liberty, in the style of an ISIS beheading. Other floats went after nationalist European leaders and right-wing parties. In Düsseldorf, President Trump was shown standing next to a blond Hitler, joined by France's Marine Le Pen, and the Netherlands' Geert Wilders. Germany prides in its traditional Narrenfreiheit (“jesters' freedom”) to mock the high and mighty. This year, Germany's state-run Deutsche Welle news agency proudly proclaimed, “German jesters take on kings for 2017 Carnival.”
- France's Death Spiral
A “no-go zone” in the eastern suburbs of Paris. Police on patrol hear screams. They decide to check. While there, a young man insults them. They decide to arrest him. He hits them. A fight starts. He accuses a policeman of having raped him with a police baton. A police investigation quickly establishes that the young man was not raped. But it is too late; a toxic process has begun. Without waiting for any further evidence, the French Interior Minister says that the police officers have “behaved badly.” He adds that “police misconduct must be condemned”. French President François Hollande goes to the hospital to give his support to the young man. The president says he has conducted himself in a “dignified and responsible manner.” The next day, a demonstration against the police is cobbled together. The demonstration turns into a riot.
- Judicial Watch Sues CIA, DOJ For Intel Leak Records: “President Trump Is On To Something”
Given that the Obama White House was (self-described as) “the most transparent administration ever,” we hope that Judicial Watch's demands of the Trump administration will be met positively. Judicial Watch announced today that it filed a Freedom of Information Act (FOIA) lawsuit against the Central Intelligence Agency (CIA), the United States Department of Justice and the Department of the Treasury regarding records related to the investigation of retired United States Army Lieutenant General Michel Flynn’s communications with Russian Ambassador Sergey Kislyak (Judicial Watch v. Central Intelligence Agency et al. (No.1:17-cv-00397)). (The National Security Agency refused to confirm or deny the existence of intelligence records about communications between Gen. Flynn and Amb Kislyak.)
- Shock Video Exposes Tent City Crisis In Failing California
Citizen journalists have captured stunning video and images of homeless encampments that are spiraling out of control in the shadows of Disneyland and Anaheim Stadium in California. The tent city has recently sprung up along the Santa Ana riverbed, near a busy convergence of three major California highways known as the “Orange Crush,” at the border of Anaheim and Santa Ana, the latter a “sanctuary city.” Homeless activists estimate that as many as 1,000 people are camped in the region.
- “The Reality Is, Half Of Americans Can’t Afford To Write A $500 Check”
The CEO of Assurant appeared on Bloomberg TV to explain why demand for his services is likely to increase: the chief executive of the mobile phone insurer said he expects a surge in demand as carriers charge customers more to replace their devices. “If you think back five years ago, you as a consumer didn’t know how much that phone cost, you thought it was free or close to free,” Assurant's Alan Colberg said Monday. “Now you’re paying $600, that’s a lot. So we’ve actually seen the attachment rate, or the number of people buying the product, going up a little bit in the last couple of years.” He then proceeded to give Bloomberg his traditional sales pitch: Assurant is counting on growth at its business covering phones and appliances to help counter a decline in the segment that insures foreclosed homes for lenders. While improvement in the real estate market has limited the number of vacant homes, Colberg said there are still many cash-strapped consumers.
- How 90% of American Households Lost an Average of $17,000 in Wealth to the Plutocrats in 2016
America has always been great for the richest 1%, and it's rapidly becoming greater. Confirmation comes from recent work by Thomas Piketty, Emmanuel Saez, and Gabriel Zucman; and from the 2015-2016 Credit Suisse Global Wealth Databooks (GWD). The Richest 1% Extracted Wealth from Every Other Segment of Society. These multi-millionaires effectively shifted nearly $4 trillion in wealth away from the rest of the nation to themselves in 2016. While there's no need to offer condolences to the rest of the top 10%, who still have an average net worth of $1.3 million, nearly half of the wealth transfer ($1.94 trillion) came from the nation's poorest 90% — the middle and lower classes, according to Piketty and Saez and Zucman. That's over $17,000 in housing and savings per lower-to-middle-class household lost to the super-rich.
- 40% of households in Philadelphia can't pay their water bill
America is in the midst of an “invisible water crisis” as the post-war water infrastructure reaches the end of its duty-cycle and cash-strapped public utilities struggle to find the money to rebuild it. In cities like Philadelphia, Atlanta, Seattle, and Detroit, families increasingly find themselves in water debt, and in Detroit, 50,000 households have had their running water cut off because of delinquency. The estimated bill for upgrading the end-of-lifed American urban water infrastructure is $1 trillion. Cities that have tried privatization as a means of pushing the bill onto investors have been shocked by the bills: in Atlanta, the private water provider charges $325.52 a month, which only qualifies as “affordable” if your household income tops $87K.
- What’s Different This Time? Stocks – This market (“Dow 30,000”) assures Fed rate hikes
The two-year US Treasury yield just shot through 1.33%, the highest since June 2009, when it had briefly spiked from 1% to 1.42%. And that had been the highest since November 2008. It eventually hit a low of 0.16% in September 2011. This surge in yield is a sign that the bond market is adjusting to a rate hike in March, to more rate hikes later this year, and to more rate hikes next year. The 10-year yield has returned to the 2.5% neighborhood, on its way to take out the recent high set in mid-December of 2.6%.
- CHINA'S WARNING: Beijing to take measures over US missile system in South Korea
CHINA has said it will take measures over the US missile system deployed in South Korea, saying the move destroys the security balance in the region. The US started to establish the first parts of its anti-missile defence system in South Korea on Tuesday after North Korea's test of four ballistic missiles. North Korean leader Kim Jong Un had personally supervised Monday's missile launches by an army unit that is positioned to strike US bases in Japan, according to the country’s state media. The US is deploying its Terminal High Altitude Area Defence (THAAD) anti-missile system but China has now reacted saying the move upsets the area’s security balance.
- This is Worse than Before the Last Three Crashes – This chart shows “multiple compression” is coming
How long can this surge in stocks go on? That’s what everyone wants to know. Projections range from “forever” – these projections have become increasingly common – to “it’s already finished.” That’s a fairly wide range. Everyone has their own reasons for their boundless optimism or their doom-and-gloom outlooks. But there are some factors – boundless optimists should push them aside assiduously – that, from a historical point of view, would trigger tsunami sirens. Because in the end, it’s not different this time. And the cycle of “multiple expansion” and “multiple compression” is one of those factors.
- Is Mexico Facing “Liquidity Problems?”
At 49% of GDP, Mexico’s public debt may seem pretty low by today’s inflated standards. It’s a mere fraction of the debt loads amassed by bigger, richer economies such as Japan (229% of GDP), Italy (133%) and the United States (104%). But when it comes to debt, everything is relative, especially if you don’t enjoy the benefits that come from having a reserve-currency-denominated printing press. In Mexico’s case it’s not so much the size of the debt that matters; it’s the rate of its growth. In the year 2000 the country had a perfectly manageable debt load of roughly 20% of GDP. Today, it is two and a half times that size.
- The Deep State is Dying-Clif High
Internet data mining expert Clif High says the world is witnessing the unmasking of the so-called “Deep State” and revealing it’s long held control over humanity. High explains, “The level of complexity of humans has increased, and that was the factor that the Deep State did not take into account. They kept their rigid mindset, their rigid rules, their compartmentalization and kept everything so boxed in even they were unaware that humanity has evolved out and around their obstruction. So, the Deep State is dying simply because the knowledge of it is so prevalent. It can’t be stopped, and is growing exponentially, and, basically, the knowledge itself is going to crush the Deep State.”
- Of Course Big Brother Was Spying On Trump’s Calls – The Shocking Truth Is That They Spy On All Of Our Calls
The mainstream media is all in an uproar over Donald Trump’s claim that Barack Obama personally ordered the phones in Trump Tower to be “wiretapped” just before the election. But nobody should really be surprised that the government was listening to Donald Trump’s phone calls. After all, the truth is that they systematically collect the content of all forms of digital communication, and this has been going on for many years. During Obama’s presidency, nobody really got too upset when it was revealed that the Obama administration was spying on friendly foreign leaders (including Angela Merkel), nobody got too upset when it was revealed that the Obama administration was spying on journalists, and nobody got too upset when it was revealed that the NSA was grabbing baby photos and nude selfies off of the Internet. But now that Trump has gotten extremely angry because the government was listening to his calls, maybe something will finally be done about all of this unconstitutional surveillance.
- Government Spooks Can Use The Mic And Camera On Trump’s Phone Even When He Thinks It Is Turned Off
After reading this article you might not ever view your electronic devices the same way again. Last year, Hollywood released a biographical political thriller based on the life of Edward Snowden that had one particularly creepy scene. In that scene, a government spook used a program to remotely activate the microphone and camera on a laptop, and by doing so he was able to watch a woman as she got undressed. Sadly, as you will see below, this kind of thing is happening constantly. Any digital device can potentially be accessed and used to spy on you even if it appears to be turned off. And this is why Donald Trump needs to be so careful right now, because the intelligence community wants to take him down and they can literally use any digital device in his possession to try to gather dirt on him. We have a “deep state” that is absolutely obsessed with watching, tracking and monitoring the American people, and something desperately needs to be done about this unconstitutional surveillance. Now that Trump has become greatly upset about how the government was tapping into his phone calls, maybe something will finally get accomplished.
- Pepsi Lays Off 20% Of Its Philadelphia Workers, Blames Soda Tax
Two weeks ago, we pointed out that when Philadelphia became the first US city to pass a soda tax last summer, city officials were eagerly looking forward to the surplus-tax funded windfall to plug gaping budget deficits (and, since this is Philadelphia, the occasional embezzlement scheme). Then, one month ago, after the tax went into effect on January 1st we showed the tax applied in practice: a receipt for a 10 pack of flavored water carried a 51% beverage tax. And since PA has a sales tax of 6% and Philly already charges another 2%, the total sales tax was 8%. In other words, a purchase which until last year came to $6.47 had overnight become $9.75.
- John Podesta joins The Washington Post as a contributing columnist
The Washington Post today announced that John Podesta will join the Opinion section as a contributing columnist. Podesta, former chairman of the 2016 Hillary Clinton campaign, will provide commentary and analysis on the intersection of politics and policy, the Trump administration and the future of the Democratic Party. “No one knows more about how Washington works, how the White House operates, and how policy ideas are translated into reality than John Podesta,” said Editorial Page Editor Fred Hiatt. “His long experience in Congress, inside two Democratic White Houses and on the front lines of numerous presidential campaigns, will offer readers vital insight into Washington and politics at the start of a new era.”
- Loretta Lynch: Need more marching, blood, death on streets
The Obama administration’s former Attorney General Loretta Lynch has made an impassioned video plea for more marching, blood and death on the streets – a video that was later posted on the Facebook page of Senate Democrats as “words of inspiration.” The video is less than a minute long and begins by stating that people are experiencing “great fear and uncertainty,” with the unstated implication it is due to Donald Trump’s takeover of the White House.
- Thousands of ICE detainees claim they were forced into labor, a violation of anti-slavery laws
Tens of thousands of undocumented immigrants detained by U.S. Immigration and Customs Enforcement were forced to work for $1 day, or for nothing at all — a violation of federal anti-slavery laws — a lawsuit claims. The lawsuit, filed in 2014 against one of the largest private prison companies in the country, reached class-action status this week after a federal judge’s ruling. That means the case could involve as many as 60,000 immigrants who have been detained. It’s the first time a class-action lawsuit accusing a private U.S. prison company of forced labor has been allowed to move forward.
- Deutsche Bank’s turnaround plans are punishing its stock
Wall Street isn’t thrilled with Deutsche Bank’s turnaround plans. Shares of John Cryan’s bank dropped nearly 4 percent Monday following a weekend announcement that it would raise $8.5 billion through a stock-diluting equity offering. Shares fell 3.8 percent to $18.61 at the end of the trading day, the lowest since Jan. 17.
- Deutsche Bank shares hit by cash call
Shares in Deutsche Bank closed 3.7% lower on news it plans to bolster its finances through selling new shares. Germany's biggest bank plans to raise about 8bn euros (£6.9bn, $8.5bn) through the sale, due later this month. The sale by the troubled bank is part of a wider shake-up. Deutsche will also partially float its asset management business and retain Postbank – the retail banking business that it had been expected to sell. The company will be reorganised around three divisions: private banking and wealth management; asset management; and corporate and investment banking. The bank is trying to reshape itself after grappling with huge losses and a 15bn euro legal bill imposed by regulators since 2012.
- Soros-Tied Obama Lawyers Form Group to Battle Trump
Further evidence of Barack Obama’s close association with efforts to oppose President Trump has emerged: a group of former top lawyers for the Obama administration have formed an organization aimed at utilizing legal advocacy methods to oppose Trump’s policies. The organization is calling itself United to Protect Democracy, drawing on the theme of Obama’s farewell speech last month. The group is already partnered with an organization heavily financed by billionaire George Soros and is led by a former Obama lawyer who previously worked at a Soros-financed global activist outfit. Politico first reported on the formation of United to Protect Democracy, which has already raised $1.5 million and hired five staffers.
- House Republicans release long-awaited plan to replace Obamacare
House Republicans on Monday released long-anticipated legislation to supplant the Affordable Care Act with a more conservative vision for the nation’s health-care system, replacing federal insurance subsidies with a new form of individual tax credits and grants to help states shape their own policies. Under two bills drafted by separate House committees, the government would no longer penalize Americans for failing to have health insurance but would try to encourage people to maintain coverage by allowing insurers to impose a surcharge of 30 percent for those who have a gap between health plans.
- China overtakes eurozone as world’s biggest bank system
China’s banking system has surpassed that of the eurozone to become the world’s largest by assets, a sign both of the country’s increased influence in world finance and its reliance on debt to drive growth since the global financial crisis. While China’s gross domestic product surpassed the EU’s economic bloc in 2011 at market exchange rates, its banking system did not take over the top spot until the end of 2016, Financial Times analysis shows. The lag reflects Beijing’s increased “financial deepening” — the term for the growth of a country’s financial system relative to gross domestic product. This has been fuelled by an extraordinary increase in bank lending since 2008, when the government unleashed aggressive monetary and fiscal stimulus to buffer the impact of the global crisis.
- ‘This is McCarthyism!’ Trump accuses Obama of wire tapping Trump Tower before election win
US President Donald Trump has accused his predecessor Barack Obama of “wire tapping” Trump Tower just before his election win in November, according to his latest tweet. Trump made the accusation in a tweet decrying the alleged surveillance as “McCarthyism.” Obama spokesman Kevin Lewis denied Trump’s allegation, according to Reuters, saying: “A cardinal rule of the Obama administration was that no White House official ever interfered with any independent investigation led by the Department of Justice.”
- Snopes caught releasing fake “fact-check” in defence of Democrats
Snopes, the popular myth-busting website, pushed misleading facts to cover for Democrats Keith Ellison and Debbie Wasserman Schultz, who didn’t leave their seats during the second standing ovation for Carryn Owens, widow of the deceased hero Navy SEAL Ryan Owens. During Trump’s address to Congress on Tuesday, Carryn Owens received two standing ovations. The second ovation, which lasted two minutes, Keith Ellison and Debbie Wasserman Schultz chose to stay in their seat.
- Juncker Has Meltdown While Debating Future Of EU: “Shit! What Do You Want Us To Do?”
There should be no doubt about the current status of the European Union. It’s crumbling before our very eyes. Between the sprawling unaccountable bureaucracy in Brussels, the unpayable debts, the unfettered immigration, and the unprecedented emergence of conservative, nationalistic groups, it’s obvious that the EU is not long for this world. No nation can survive those pressures; much less a loosely held, 24 year old political union consisting of a wide variety of languages and cultures. And this fact is beginning to show. Not just because nations like the UK have already voted to leave the EU, and talk of independence referendums is spreading like wildfire across the continent. This fact is beginning to show on the faces and lips of the EU’s leaders.
- The NSA Wiretaps Every Future President
Trump's on the warpath. He just called out Obama for wiretapping Trump Tower in the months leading up to the election. We are seeing commentaries popping up around the internet claiming that this is a modern-day Watergate scandal. We respectfully disagree. It's far, far more serious. If Trump Tower was wiretapped, it was almost certainly done by the NSA.
- Valerie Jarrett Has Moved Into Obama’s Anti-Trump Command Center To Aid In The Effort To Sabotage The President
Never before have we seen a previous president and his team openly attempt to sabotage the next president, but that is precisely what is happening. Traditionally, most ex-presidents have chosen to move far away from Washington, but Barack Obama decided to purchase a home less than two miles from the White House, and many of his former staff members are either working directly with him or are working for his political organization Organizing for Action. And of particular concern is the fact that Valerie Jarrett has actually moved into Obama’s five million dollar home, which many are referring to as Obama’s “anti-Trump command center”. For eight years the Obamas wouldn’t even sneeze without consulting Valerie Jarrett first, and needless to say Jarrett has not moved in to help them pick out wallpaper and drapes. Jarrett is a hardcore political operative, and she has reportedly convinced Obama that he needs to lead the fight against Trump.
- President Oprah? Speculation Rises That The 2020 Election Will Feature An Epic Battle Between Donald Trump And Oprah Winfrey
When Donald Trump originally announced that he was going to run for president, he said that his ideal choice for a running mate was Oprah Winfrey, but now he may be actually running against her in the 2020 election. A recent episode of The David Rubenstein Show that featured an interview with Oprah Winfrey is creating a tremendous amount of buzz that Oprah Winfrey may throw her hat into the ring during the next election cycle. This particular episode was taped back on December 12th, but it didn’t actually get aired on Bloomberg TV until last Tuesday. You can see the portion of the interview in which Oprah is asked about her presidential aspirations on YouTube right here, and as you can see, she definitely sounds like someone that is very seriously thinking about running…
- 11 Quotes From Trump’s Speech To Congress That Show That The U.S. Economy Is In A State Of Collapse
After Tuesday night, nobody should have any more doubt that the U.S. economy has been in the process of collapsing. Donald Trump’s speech to a joint session of Congress is being hailed as his best speech ever. Even CNN’s Van Jones praised Trump, which shocked many observers. Jones said that when Trump honored the widow of slain Navy Seal Ryan Owens that it “was one of the most extraordinary moments you have ever seen in American politics”, and Jones believes that Trump “became President of the United States in that moment”. But Trump’s speech is not just being praised for that one moment. He detailed many of the most important problems that our nation is facing, and he explained his prescription for addressing those problems.
- S&P 500 ETF saw historic inflows in Wednesday’s monster rally
Wednesday marked the largest one-day rise for the S&P 500 since November, but the biggest exchange-traded fund to track the benchmark index took down an even longer-standing record amid the broad advance. The SPDR S&P 500 ETF Trust SPY, -0.19% saw inflows of more than $8 billion on Wednesday, the biggest single-day move into the fund since December 2014, and one of the top 10 biggest flow days for the ETF in its history. The flow data includes the 34.2 million shares that were created in the fund, according to data provided by State Street Global Advisors, which runs the fund.
- Euro Breakup Contagion Risk Is Exploding
With existential elections looming, Sentix Euro Break-up Contagion Index – a market measure of the contagion risk from one or more countries leaving the euro area within the next 12 months period – has hit its post-2012 record recently… As Sentix notes, the Eurocrisis is once again in the limelight. And this time the drama consists of three main actors: Greece, Italy and France. How dangerous this tendency for the cohesion of the eurozone could become is a look at the index to the spreading risk, which has almost climbed to the 50% mark – an all-time high!
- Newly-Declassified Documents Show that CIA Worked Closely with Owners and Journalists with Many of the Largest Media Outlets
Newly-declassified documents show that a senior CIA agent and Deputy Director of the Directorate of Intelligence worked closely with the owners and journalists of many of the largest media outlets. The United States Senate Select Committee to Study Governmental Operations with Respect to Intelligence Activities found in 1975 that the CIA submitted stories to the American press.
- This Chart Signals China's Housing Bubble May Burst Soon
The probability that a real estate bubble may burst in China is rising. The financial sector heavily depends on real estate, which in turn exposes the entire Chinese economy to systemic risk. This link means that a downturn in real estate could soon spread to other areas of the Chinese economy if banks face liquidity shortfalls. Also, falling housing prices could result in more non-performing loans (NPLs). While NPLs officially account for only 1.75 percent of all Chinese loans, the government is likely understating the figure. BMI Research, a financial consulting firm, estimated in a 2016 report that NPLs could be close to 20 percent of loans.
- China Strikes A Path To Develop Its Own Digital Currency
The People’s Bank of China (PBOC) has reportedly been taking steps to develop a digital currency of its own. In 2014, China assembled a research team to study digital currencies and application scenarios by collaborating with experts from Citigroup Inc. and Deloitte LLP. Although the team did not specify what technology the PBOC would use to issue digital currency, or how it would work in relation to the yuan, a later 2016 research paper did outline ways that a national digital currency could work.
- Trump Seeks “Historic” $54 Billion Increase To Defense Spending
As observed earlier in the day, as part of the leaked preliminary Trump budget, the president was set to unveil major spending increases for US defense offset by cuts to federal agencies, and other non-defense sectors. And on Monday morning, the first details emerged, including that the boost to defense spending is expected to be about 10%, or some $54 billion, and will be revenue neutral, offset by cuts in non-defense areas, and will not “add a dime to the deficit.” As Trump said, he is seeking a “historic increase” in military spending. “This budget will be a public safety and national security budget,” Trump told state governors at the White House. “It will include an historic increase in defense spending to rebuild the depleted military of the United States of America at a time we most need it,” he said.
- The Greek “Bank Jog” Is Back: Bank Deposits Tumble To Lowest Since 2001
It didn't take much for the Greek bank run jog to return: with Greece once again stuck between an IMF rock and a Schauble hard case, and whispers that another bailout may be on the horizon, the local population took advantage of whatever capital controls loopholes they could find, and withdrew money from the local banking sector, which to this day remains on ECB life support, almost two years after the 3rd Greek bailout in the summer of 2015. According to Greece central bank data, Greek private sector bank deposits declined in January for the second month in a row, driven by renewed concerns over the country's neverending bailout. Business and household deposits fell by €1.63 billion, or 1.34% month-on-month to €119.75 billion ($126.8 billion), the lowest level since November 2001. The January outflow follows a “jog” of €3.4 billion in December, making the two-month drop the worst since the latest Greek bailout panic in July of 2015.
- China Accounts For Half Of All Global Debt Created Since 2005: Here Are The Implications
Over three years ago, in November 2013, when the world's attention was still largely focused on what the “Big 4” central banks would do with QE and/or interest rates, we wrote an article showing in one simple chart “How In Five Short Years, China Humiliated The World's Central Banks”, and noted that in just the brief period since the financial crisis “Chinese bank assets (and by implication liabilities) have grown by an astounding $15 trillion, bringing the total to over $24 trillion. In other words, China has expanded its financial balance sheet by 50% more than the assets of all global central banks combined.”
- The European Debt Bomb Fuse Is Lit! Target2 Imbalances Hit Crisis Levels
Eurozone Target2 imbalances have touched or exceeded the crisis levels hit in 2012 when Greece was on the verge of leaving the Eurozone. Others have noted the growing imbalances as well. I had a couple of questions for the ECB regarding Target2, which they have answered, I believe disingenuously. First, we will explain Target2, then we will take a look at various charts, viewpoints, and the email exchange with the ECB.
- Trump’s border wall plan already working: Illegal immigration down 27%
According to number released by Customs and Border Protection on Monday, illegal immigration over the southern border diminished 27% in the first month of 2017 from the previous month of December. In January a total of 31,575 migrants were apprehended for entering the U.S. illegally and an additional 10,899 were inadmissible. Although chatter of Trump’s proposed construction of a wall has likely thwarted migrants, for now, the flow of human traffic into the U.S. is expected to pick back up in the spring months.
- Poll: Majority of Americans fear US will become involved in another major war
A majority of Americans are concerned that the United States will become involved in another major war over the course of President Trump's term, according to an NBC News/Survey Monkey online poll released Wednesday. Sixty-six percent are worried that the U.S. will become engrossed in another major war, while 33 percent are not worried. The poll also found that 62 percent believe the U.S. should consider its allies’ interests even if doing so means making compromises, while 34 percent of Americans think the country should do what is best for its own national interest.
- Under the Heel of the Rothschilds
That America is on “life support” has been clear for a long time—in fact, ever since the Swinging Sixties and the end of the Vietnam war. America’s rapidly deteriorating condition of the late seventies is what led to my search for what happened to the promise of “the American dream”. What I cannot comprehend is all this wringing of hands, rending of garments and gnashing of teeth. It’s like that old scorpion story. Didn’t America know what was going on before Trump was elected to ride on its back? Apparently not. Observe: the Rothschilds consolidated their European holdings of wealth and power by the late 1700s. By the turn of that century, they virtually owned, and most certainly controlled Britain, the sole superpower of the day, a global power on whose colonial holdings “the sun never set.”
- Georgia high school punishes student for supporting President Trump
Paul Joseph Watson reports for InfoWars, Feb. 28, 2017, that Patrick Ragozzine, a student at Cherokee High School in Canton, Georgia (about 45 minutes from Atlanta), received an ISS (in school suspension) for supporting President Trump against students who called Trump a racist. Ragozzine writes: “I overheard some students bashing Donald Trump, making false claims that he’s a racist, sexist, xenophobic person. The teacher defended the other students and began lecturing me on Trump’s ‘hateful’ rhetoric and how the other students have the right to hold those feelings.”
- How We Got Here In One Sentence
In every annual budget debate since the 1980s, one side figures out that the way to get what it wants – which is higher spending – is to frame the request in a particular, ingenious way: We have to borrow and spend way more now if we want to borrow and spend way less later. History has of course proven this argument to be idiotic, but because it moves the pain of living within our means into the indefinite future, it always manages to attract enough votes to win the day.
- The Largest Debt Bomb In Human History is About to go BOOM!
The media doesn’t seem to be talking much about national debt these days, perhaps because under the Trump administration it actually reduced by $12B in January? Unfortunately, that’s nothing but a drop in the bucket because our debt levels are at the highest point in human history. And not just national debt but corporate and personal debt levels as well. And the United States is not alone in this… Right Wing News looks at how the American and global economy has largely been propped up by debt-fueled spending. This is what a hundred years of credit expansion will do, and the only question is when, not if, this house of cards will come crumbling down. Will you be prepared when the inevitable occurs?
- Crack-up Boom Here Now-Rob Kirby
Macroeconomic researcher Rod Kirby thinks the world is well on its way to much higher inflation. Kirby explains, “Some people say there is a dollar shortage in the world. I do not believe there is a dollar shortage. I think we are seeing evidence that there are too many dollars in the world, not too few. Look at real estate prices around the world. In Canada, they are at record levels. In America, they are at record levels. Real estate prices are at record levels in Britain. There are record levels in Australia. They are at record levels in China. This is not what you’d expect in an environment where there are too few dollars. We are seeing the equity markets rally day after day and make new all-time highs. These are not the kinds of things you see when there are too few dollars. In my view, this might be the thin edge of the wedge of a crack-up boom. Money is getting to the street because money is being taken out of dark pools on the dark side of the U.S. Treasury and is being injected into the market place as bonds are being sold off and redeemed. The world is flush with money, extremely flush with money.”
- Giant Fiscal Bloodbath Coming Soon-David Stockman
Former Reagan Administration White House Budget Director David Stockman says financial pain is a mathematical certainty. Stockman explains, “I think we are likely to have more of a fiscal bloodbath rather than fiscal stimulus. Unfortunately for Donald Trump, not only did the public vote the establishment out, they left on his doorstep the inheritance of 30 years of debt build-up and a fiscal policy that’s been really reckless in the extreme. People would like to think he’s the second coming of Ronald Reagan and we are going to have morning in America. Unfortunately, I don’t think it looks that promising because Trump is inheriting a mess that pales into insignificance what we had to deal with in January of 1981 when I joined the Reagan White House as Budget Director.”
- Trump Has Treason in White House-Robert David Steele
Former CIA operative and military Intel officer, Robert David Steele, says there is no doubt President Trump is dealing with “treason in his own house.” Steele explains, “Donald Trump’s biggest worry right this minute is they are stripping away every single one of his loyal staff members and planting spies in the White House. Reince Priebus, in my judgment, is not loyal to Donald Trump. Reince Priebus’ highest mission in life is to keep Donald Trump from unrigging the system, while helping the neo-conservative and the extreme left two party establishment strip away all of Trump’s options to the point that they drive Trump out of office, and Mike Pence is the go along, get along President that keeps the two-party tyranny in place. . . . If he forces the NSA to provide support to the FBI, and if he scrutinizes every phone call that Reince Priebus has made and received, he will find the treason in his own house. I guarantee you there are 30 traitors at NSA, 30 traitors at FBI and over 500 traitors across the U.S. government, including the Departments of State and Defense. Counterintelligence has to be set in motion right now.”
- Why Is NASA Using The Discovery Of 7 New Earth-Sized Planets To Promote The Idea That Alien Life May Exist?
NASA told us in advance that there would be a huge announcement on Wednesday, and it certainly was not a disappointment. NASA’s declaration that 7 new Earth-sized planets had been discovered approximately 40 light years away from our sun made headlines all over the globe, and the Internet immediately started buzzing with lots of discussions about the possibility that these newly discovered worlds may have life on them. This isn’t the kind of thing that I normally write about on The Economic Collapse Blog, but some of the things that were being said by the scientists involved in this discovery seemed quite odd. It is one thing to say that some new planets have been found, but it is another thing entirely to start speculating about life on those planets. With each new discovery that is made, why does it always seem like NASA is trying to promote the idea that alien life may exist somewhere out there? Could it be possible that they are trying to mentally prepare us for something?
- How Angry Will You Be If The Republicans In Congress Do Not Repeal Obamacare?
Top Republicans are now publicly saying that Obamacare will never be fully repealed. In fact, many Republicans in Congress are already using the term “repair” instead of “repeal” to describe what is going to happen to Barack Obama’s signature healthcare law. Without a doubt, the Republicans in Congress are eventually going to do something, but strategists in both parties are now suggesting that most of the key elements of Obamacare are going to remain once everything is all said and done. It will be put into a more “conservative” package, but it will still be Obamacare. On Thursday, former House Speaker John Boehner made headlines all over the country when he said that a complete repeal of Obamacare is “not what’s going to happen”. Instead, Boehner said that Republicans are going to “fix Obamacare” and that they will “put a more conservative box around it” in order to keep their constituents happy.
- As Wendy's Is Proving, Target Has Shown, Higher Minimum Wages Lead To Job Losses
We people who know our economics keep insisting that raising the minimum wage will lead to people employing less labour. That's just what people do when the price of something rises, they buy less of it. The other name for people using less labour is that we will lose jobs, there will be unemployment. A number of theories are put forward for why this won't happen but happen it still does. As the twin stories of Target and Wendy's show us.
- Retail Apocalypse Gains Momentum As David Stockman Warns ‘Everything Will Grind To A Halt’ After March 15th
J.C. Penney and Family Christian Stores are the latest retail giants to announce widespread store closings. As you will see below, J.C. Penney plans to close between 130 and 140 stores, and Family Christian is closing all of their 240 stores. In recent months the stock market has been absolutely soaring, and so most people have simply assumed that the “real economy” must be doing well. But that is not the case at all. In fact, the retail apocalypse that I have been documenting for quite some time appears to be gaining momentum. J.C. Penney is not in as rough shape as Sears is just yet, but it is definitely on a similar trajectory. In the end, they are both headed for bankruptcy. That is why it wasn’t too much of a surprise when J.C. Penney announced that they are getting rid of about 6,000 workers and closing at least 130 stores…
- Ford set to axe 1,160 UK jobs, Unite warns as it gears up for strike action
Unite has said up to 1,160 jobs will go by 2021 after Ford said it will cut investment in a new engine programme. The union has warned workers at Ford's Bridgend plant in Wales will be “one step closer to strike action” if the company doesn't commit to protecting jobs. At the moment, the headcount is 1,760. Unite general secretary Len McCluskey is visiting the site today with three mass meetings being held. He said: “Unite members are committed to Ford, the Welsh Assembley is committed to Ford, all we need now is for Ford to commit to its workforce. That means investment, new product lines and a clean plan for the plant's future.”
- Is Something Strange Happening Inside The Earth?
Why are “giant fountains of lava” suddenly pouring out of some of the most dangerous volcanoes on the entire planet, and why are so many long dormant volcanoes suddenly roaring back to life? The spectacular eruption of Mt. Etna in Italy is making headlines all over the world, but it is far from alone. According to Volcano Discovery, 35 major volcanoes either are erupting right now or have just recently erupted, and dozens of others are stirring. So what is causing this upsurge in volcanic activity? Is something strange happening inside the Earth? According to the USGS, magma is “molten rock underground”, and lava is molten rock “that breaks through the Earth’s surface”. Right now, something is pushing magma up through the crust of the Earth at a number of key spots around the planet. On the island of Sicily, the “giant fountains of lava” that are coming out of Mt. Etna can be seen 30 kilometers away…
- Venezuela is down to its last $10 billion
Caracas is running out of cash. Venezuela only has $10.5 billion in foreign reserves left, according to its most recent central bank data. For rest of the year, Venezuela owes roughly $7.2 billion in outstanding debt payments. In 2011, Venezuela had roughly $30 billion in reserves. In 2015, it had $20 billion. The trend can't persist much longer, but it's hard to know exactly when Venezuela will run completely out of cash.
- If You Admit That You Are A Trump Supporter, It May Cost You Your Job
Many liberals that are still extremely bitter about the outcome of the election are taking out their frustrations on Trump supporters all over the country. And in some cases, employees are actually being “reassigned”, fired or asked to leave their jobs if they openly admit their support for President Trump. This kind of political discrimination is not supposed to be happening in our workplaces, but it is happening. Many leftists that are in positions of authority around the nation are using that authority to punish people that voted for Donald Trump. So if you voted for Trump and your boss didn’t, you might want to keep your political views to yourself at your workplace if you want to keep your job.
- In Letter Sent Home To All Parents, Chicago Public Schools Promise To Obstruct ‘The Enforcement Of Federal Civil Immigration Law’
The Chicago public school system has decided to openly defy the president of the United States. More than 392,000 students attend public schools in Chicago, and on Tuesday a letter was sent home with each of those students telling their parents that Chicago schools will not “assist in the enforcement of federal civil immigration law”. In fact, the letter actually says that federal officials will not even be allowed “to access CPS facilities”. In essence, every Chicago public school has now officially been declared to be a “sanctuary” for illegal immigrants. This is just another example of how deeply divided we are as a nation. The entire public school system of one of our largest cities is now in open rebellion against the president, and that is a very dangerous sign.
- Radical Leftists Are Warning That The Trump Years Will Be ‘Apocalyptic’ – And They Just Might Be Right
Is the United States about to plunge into an apocalyptic nightmare from which it may never recover? During the Obama era conservatives often warned of such scenarios, but now things have completely shifted. At the moment, conservatives are generally more optimistic than they have been in many years, but quite a few liberals are warning that the Trump years could have absolutely disastrous consequences for this country. They are concerned that Trump’s policies could burst the giant debt bubble that we have been living in and trigger economic collapse, they are concerned that widespread civil unrest could soon erupt in our cities, they are concerned that our rapidly deteriorating environment and major natural disasters could soon kill millions, and they are also concerned that faltering relationships with other nations could lead us into World War III.
- Pastor Lindsey Williams introduces Pastor David Bowen – March 2, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter.
Latest News From February 24, 2017 to March 2, 2017:
- March 2017: The End Of A 100 Year Global Debt Super Cycle Is Way Overdue
For more than 100 years global debt levels have been rising, and now we are potentially facing the greatest debt crisis in all of human history. Never before have we seen such a level of debt saturation all over the planet, and pretty much everyone understands that this is going to end very, very badly at some point. The only real question is when it will happen. Many believe that the current global debt super cycle began when the Federal Reserve was established in 1913. Central banks are designed to create debt, and since 1913 the U.S. national debt has gotten more than 6800 times larger. But of course it is not just the United States that is in this sort of predicament. At this point more than 99 percent of the population of the entire planet lives in a nation that has a debt-creating central bank, and as a result the whole world is drowning in debt.
- What This Woman Was Shown About The Future Of The United States Will Shake You To Your Core
Judgment is coming to America very soon. Recently, Julie Whedbee was shown what life will be like for believers in the United States during the Tribulation. She has been having dreams and visions for over 20 years, and she is someone that I have come to hold in high regard. What was revealed to her about the future of the United States is quite chilling to say the least. She was shown a time when Christians have to live in hiding in a post-apocalyptic America where millions of people have already been killed.
- Virtually Everyone Agrees That Current Stock Market Valuations Are Not Sustainable And That A Great Crash Is Coming
Current stock market valuations are not sustainable. If there is one thing that I want you to remember from this article, it is that cold, hard fact. In 1929, 2000 and 2008, stock prices soared to absolutely absurd levels just before horrible stock market crashes. What goes up must eventually come down, and the stock market bubble of today will be no exception. In fact, virtually everyone in the financial community acknowledges that stock prices are irrationally high right now. Some are suggesting that there is still time to jump in and make money before the crash comes, while others are recommending a much more cautious approach. But what almost everyone agrees on is the fact that stocks cannot go up like this forever.
- Video: Nancy Pelosi Refuses to Applaud American Job Creation
As President Donald Trump hailed the creation of private sector jobs by American companies since he was elected, many in Congress cheered tonight. Except Nancy Pelosi. During his Address to Congress, Trump ran down a list of companies that have announced investments and job additions in the last several weeks. “Since my election, Ford, Fiat Chrysler, Generall Motors, Spring, Sofbank, Lockheed, Intel, Walmart and many others have announced that they will invest billions and billions of dollars in the United States and create tens of thousands of new American jobs,” Trump said. As many stood to applaud, Pelosi remained seated with a sour look on her face.
- California Governor Spends $25 Billion Per Year On Illegals, Officials Warned Dam Failing 12 Years Ago
According to a report from the Washington Times, California Governor Jerry Brown has been spending $25 billion a year supporting illegal immigrants while neglecting the failing Oroville dam. Despite California’s utter hatred for President Trump they sure do expect a lot from him. When President Trump said $1 trillion needed to be spent on the nation’s infrastructure Governor Brown responded by submitting a $100 billion wishlist for projects in California. In the $100 billion request submitted by Governor Brown there was not a single mention of the Oroville dam. Governor Brown had absolutely no plans to fix it despite warnings that the dam was in serious need of repair for nearly 12 years according to Mercury News.
- Obamas To Make Over $60 Million From Book Deal
What took the Clintons years of confidential speeches before major investment banks and middle eastern clients of the Treasury Department, the Obama's plan to achieve with just two books. According to the FT, several publishers are participating in a blockbuster auction for the global rights to two books by Barack and Michelle Obama where the bid has reached more than $60 million. The Obamas, who are writing separate books but selling the rights jointly, stand to make a record amount for their presidential memoirs.
- Russia and China veto UN vote on Syria
Russia and China veto UN Security Council resolution imposing sanctions on Syria, as in a blow to the Western powers a raft of non-aligned countries decide to vote against or abstain. As promised Russia voted against the latest attempt by the Western powers to use the UN Security Council to impose sanctions on Syria, this time in connection with Syria’s alleged use of chemical weapons. This is the seventh occasion that Russia has wielded its veto on Syria’s behalf. China also voted against the resolution, the sixth time China has voted against a Western sponsored resolution concerning Syria.
- What's So Bad About Globalism? (Spoiler Alert: Everything)
As far as I can tell, globalism is a scheme concocted by the rich to destroy the working and middle classes through worldwide financial imperialism. I have a strong hunch that globalism is also a plot hatched to obliterate indigenous cultures and real human differences under the deceptive ruses of “multiculturalism” and “diversity.” This is why I’m confused whenever I hear someone say they hate “the rich,” oppose “imperialism,” and support “the working class” while being an unquestioning cheerleader for open borders and global government.
- Millionaire Migrants: Countries That Rich People Are Flocking To
Money may not buy happiness, but it does buy the ultimate flexibility for making financial and lifestyle decisions. For many of the world’s millionaires, money provides a highly effective means to escape their home country when times get tough. They can pack their bags, and move their family and capital to a location that will provide superior opportunities for prosperity. According to a new report by New World Wealth, this couldn’t have been truer for 2016, as the amount of millionaire migrants increased by 28% from the previous year.
- The FTSE 100 broke its record closing high for a 13th time in 2017
Britain's FTSE 100 reached an all-time closing high on Wednesday buoyed by a weakening pound and a rise in sentiment following Donald Trump's more conciliatory than expected speech to Congress on Tuesday evening. Trump's speech, along with hints from members of the the US Federal Reserve's FOMC that the central bank could hike interest rates helped push the dollar higher and the pound lower, driving a more than 1.6% rally in the UK's benchmark share index. The FTSE closed at 7,384.6 points on the day, a gain of 1.67%, surpassing the previous record of 7,337 points, a milestone reached in January of this year.
- NY Teamsters Pension Becomes First To Run Out Of Money As Expert Warns “Pension Tsunami” Is Coming
The New York Teamsters Road Carriers Local 707 Pension Fund has won the unfortunate award for “First Pension to Officially Run Out of Money.” According to the New York Daily News, and a host of angry former truck drivers who've had their pension benefits slashed, the Pension Benefit Guaranty Corp. (PBGC) has officially been forced to step in and take over payments to retirees of the Local 707, albeit at a much lower rate. Of course, the Teamsters 707 and other Teamster pension boards attempted to submit plans that would have cut benefits in order to prolong payments to retirees but those plans were universally rejected by the Obama administration… better that the pensions just run out of cash completely.
- FULL: President Trump Speech to Congress – 2/28/2017
President Donald J. Trump addresses Congress for the first time.
- Trump declares it's ‘time to join forces' to fix US problems
Heralding a “new chapter of American greatness,” President Donald Trump stood before Congress for the first time Tuesday night and issued a broad call for overhauling the nation's health care system, significantly boosting military spending and plunging $1 trillion into upgrading crumbling infrastructure. Striking an optimistic tone, Trump declared: “The time for small thinking is over.” Trump's address came at a pivotal moment for a new president elected on pledges to swiftly shake up Washington and follow through on the failed promises of career politicians. His opening weeks in office have been consumed by distractions and self-inflicted wounds, including the bungled rollout of a sweeping immigration and refugee executive order that was blocked by the courts.
- Trump Proposes Cutting State Department Budget By 37%
One month ago, a media frenzy broke out after the WaPo reported of mass voluntary resignations at the State Department, to protest the arrival of Rex Tillerson. Shortly after, it was revealed that not only was it not a “mass resignation” (there were only four high level resignation) but it was all procedural, meant to streamline the transition from one administration to the next. However, the bloodbath at the State Department – for years Hillary Clinton's kingdom, and populated with many pro-Clinton staffers – may have been merely deferred because as AP reports, the Trump administration is proposing deep cuts in spending for diplomacy and foreign aid programs to help pay for increased military spending. Officials familiar with the proposal say it calls for slashing more than a third, or 37%, of the State Department and the U.S. Agency for International Development budgets. Development assistance would take the biggest hit.
- “There Must Not Be A Bail In”: Germany Vows “No Debt Relief For Greece”
The standoff over the Greek debt crisis was nowhere closer to an amicable resolution on Sunday, when Germany's deputy finance minister Jens Spahn said in an interview with German broadcaster Deutschlandfunk that Greece must not be granted a “bail in” that would involve creditors taking a loss on their loans, reiterating the German government's opposition to debt relief for Athens, and confirming that when it comes to Europe's recently adopted “bail-in” protocols, they “work” in theory, but certainly not in practice (see the latest taxpayer funded bailout of Monte Paschi for another recent example). “There must not be a bail-in,” Jens Spahn said quoted by Reuters, adding that “we think it is very, very likely that we will come to an agreement with the International Monetary Fund that does not require a haircut,” he said, referring to losses that Greece's creditors would have to take if debt was written off.
- Barclays Server Crash Leaves Customers Unble To Withdraw Cash, Use Debit Cards
Having managed to stem its recent earnings rout, reporting a Q4 rebound in income from continuing operations which rose to £380 million after reporting a loss of £2.24 billion a year ago, UK's Barclays is facing a more traditional problem: on Saturday Barclays customers have reported problems using their cards in shops and withdrawing money from some cash machines according to the BBC. Barclays customers tweeted about problems using their cards when out shopping or trying to access online banking on Saturday afternoon. “Wondered why my card was declined when paying for lunch. Barclays servers have crashed. Brilliant,” said one customer, James.
- Poland, Hungary Join Together To Challenge EU Bureaucracy
The rifts within the EU continue to widen as Poland and Hungary join together in opposition to the EU bureaucracy. Soon after Poland’s ultra-conservative Law and Justice (PiS) party came to power in October 2015, the Polish parliament passed a law allowing the government to appoint the judges of its choosing to the highest court and not recognize those chosen by its predecessor, the liberal Civic Platform party. The crisis began in 2015 when Civic Platform, the party then in power, improperly nominated two judges to the constitutional court. When the PiS won October’s elections, it refused to recognize them and also blocked three other judges who had been properly selected by parliament. PiS also wants the court to hear cases in chronological order, rather than setting its own priorities for tackling its caseload. The Polish government believes it is unfair that a constitutional court with a majority of judges appointed under the previous parliament should be able to scupper flagship policies for which PiS secured a mandate in democratic elections in 2015.
- Stockman: “After March 15 Everything Will Grind To A Halt”
Two weeks after David Stockman warned that “the market is apparently pricing in a huge Trump stimulus. But if you just look at the real world out there, the only thing that's going to happen is a fiscal bloodbath and a White House train wreck like never before in U.S. history” and exclaimed that, when looking at markets, “what's going on today is complete insanity” he is back with another interview, this time with Greg Hunter of USAWatchdog in which he, once again warns, that a giant fiscal bloodbatch is coming soon, and urges listeners to pay especially close attention to the March 15, 2017 debt ceiling deadling, at which point everything could “grind to a halt.” As Greg Hunter writes, former Reagan Administration White House Budget Director David Stockman says financial pain is a mathematical certainty. Stockman explains, “I think we are likely to have more of a fiscal bloodbath rather than fiscal stimulus. Unfortunately for Donald Trump, not only did the public vote the establishment out, they left on his doorstep the inheritance of 30 years of debt build-up and a fiscal policy that’s been really reckless in the extreme. People would like to think he’s the second coming of Ronald Reagan and we are going to have morning in America. Unfortunately, I don’t think it looks that promising because Trump is inheriting a mess that pales into insignificance what we had to deal with in January of 1981 when I joined the Reagan White House as Budget Director.”
- Minimum Wage Massacre: Wendy's Unleashes 1,000 Robots To Counter Higher Labor Costs
In yet another awkwardly rational response to government intervention in deciding what's “fair”, the blowback from minimum wage demanding fast food workers has struck again. Wendy's plans to install self-ordering kiosks in 1,000 of its stores – 16% of its locations nationwide. Wendy's chief information officer, David Trimm, said the kiosks are intended to appeal to younger customers and reduce labor costs. Kiosks also allow customers of the fast food giant to circumvent long lines during peak dining hours while increasing kitchen production.
- Trump's first budget proposal will call for $54 billion increase in defense spending
President Donald Trump's first budget will call for a $54 billion (£43bn) increase to defense spending and an equal cut in what his administration deems lower priority programs, an Office of Management and Budget official told reporters Monday. Under Trump's proposal, most federal agencies would face budget reductions, but the official did not say which would see the biggest cuts. Foreign aid spending would also drop. Speaking at a meeting with governors Monday, Trump said, “We're going to do more with less and make the government lean and accountable.”
- Former IMF Chief Sent To Jail As Spain Prosecutes 65 Elite Bankers In Enormous Corruption Scandal
In many other countries, excluding the United States, corrupt bankers are often brought to task by their respective governments. The most recent example of a corrupt banker being held accountable comes out of Spain, in which the former head of the International Monetary Fund (IMF), Rodrigo Rato was sentenced to four years and six months behind bars. According to the AFP, Spain’s National Court, which deals with corruption and financial crime cases, said he had been found guilty of embezzlement when he headed up Caja Madrid and Bankia, at a time when both groups were having difficulties.
- Arizona House Unanimously Passes Bill Taking on State, Federal Asset Forfeiture
Today, the Arizona House voted 60-0 to pass a bill reforming the state’s asset forfeiture laws. The bill also takes on federal forfeiture programs by banning prosecutors from circumventing state laws by passing cases off to the feds in most situations. Rep. Eddie Farnsworth (R-Gilbert) introduced House Bill 2477 (HB2477) on Feb. 7. The legislation would require prosecutors to establish a higher evidentiary standard for asset forfeiture. As it stands, the law only requires a preponderance of the evidence. HB2477 would raise that, requiring police and prosecutors to provide “clear and convincing evidence” the property was linked to a crime. While the proposed law would not require a criminal conviction before proceeding with asset forfeiture, it would take a step toward reforming Arizona’s forfeiture laws under that essential standard.
- Former Trump trade adviser: The world's foremost authority on trade could be Trump's next target
The senior adviser who led President Donald Trump's trade transition team suggested to Business Insider that the next trade agreement that could come under fire from the White House was the US's participation in the World Trade Organization. Dan DiMicco, the former Nucor CEO and board member of the Coalition for a Prosperous America, said “right now” the global organization “does not work for us.” Formed in 1995, the organization consists of more than 160 members. It acts as an international body that, based on a set of agreements negotiated and signed by those members, supports free trade and opposes the sort of protectionist policies that were the hallmark of Trump's campaign promises.
- New Studies Found Something That Really Causes Climate Change (And It Has Nothing To Do With Human Beings)
A new study produced by a University of Wisconsin-Madison geoscientist and Northwestern astrophysicist presents an explanation of the fluctuations of the earth's temperatures in the past that highlights the complexity of the forces at work on the earth's climate and how much we still have to learn about them. The study maintains that the cycle of changes in the climate over the millennia is largely a result of changes in the amount of solar radiation, in part caused by small changes in the orbits of Earth and Mars. While the notion that the impact on earth's orbital cycle on solar radiation levels is a significant factor determining global temperatures is anything but new, the team of scientists seem to have tied the phenomenon to planetary orbits in a more concrete manner than previous studies.
- Trump cuts US debt by $12bn in his first month in office, accuses media of ‘not reporting’ it
The US President Donald Trump has tweeted that he managed to decrease the US total public debt by US$ 12 billion during his first month in office while the former President Barack Obama increased it by US$200 billion over the same period. Trump has also accused the media of turning the blind eye to this fact. “The media has not reported that the National Debt in my first month went down by $12 billion vs a $200 billion increase in Obama first mo,” he said in his Twitter post.
- Dallas Police Pension Board Approves Benefit Cuts; Asks For More Taxpayer Money To Avoid Collapse
For the past several months we've warned that the taxpayers of the City of Dallas, despite all of the tough talk coming out of their elected city council members, would ultimately be forced to bail out the failing Dallas Police and Fire Pension (DPFP) system. And just last night the DPFP board voted 9-0 to approve a plan that would do just that. The plan to save the DPFP was proposed by Dan Flynn, chair of the pensions committee in the Texas House of Representatives, and calls for Dallas taxpayers to contribute 34.5% of police and firefighter salaries each year into the failing pension system, up from 27% in 2015, plus an incremental $11 million per year. In total, the adopted plan will cost Dallas taxpayers an extra $22 million per year.
- Auto Loan Bubble Bursting, And Lenders Know Where Your Car Is At All Times
The story of the Car Loan subprime lending epidemic is nothing new (one of many, student loans etc). Zerohedge has been writing about it for years, with the financial MSM catching on not too long ago. Even John Oliver had a segment about it on his popular show, Last Week Tonight. The new subprime lending epidemic, in the $1.1 Trillion market, which the experts tell us is contianed and won't have the same effect as in the previous crisis, is where all it takes to buy a car at a dealership is the ability to fog a mirror. Cracks have been rearing their heads over the last few months, but nothing like we are seeing as of late. According to the latest data, auto loan delinquencies are now at levels not seen since the last financial crisis.
- Is it Autumn 2007 All Over Again?
While the financial world continues to delight in Trump Mania, the US economy has rolled over into recession. I realize this sounds completely insane. After all, stocks are at new all time highs and a full 61% of Americans view the economy as “strong.” Unfortunately, this is perception, not reality. When it comes to the economy today, Americans are like the guy who hasn’t realized the party is over, and keeps dancing while others are already starting to leave. Consider Government tax receipts. This is perhaps the single most objective economic metric on the planet. If the economy is growing, business are being started, jobs are being created, and more people and entities area paying taxes.
- How Many Euro Crises Will This Make? It’s Getting Hard To Keep Track
Every few years, it seems, one or another mismanaged eurozone country falls into one or another kind of crisis. This leads to speculation about the end of the common currency, which in turn spooks the global financial markets. Then the ECB conjures another trillion euros out of thin air, buys up and/or guarantees all the offending country’s bonds, and calm returns for a while. At least, that’s how it’s gone in the past. The latest crisis has more than the usual number of flash-points and could, therefore, be something new and different.
- Reasons Are Mounting To Be Very Cautious About Stocks Right Now
This year, that outlook could be best described as cautious, which stands in sharp contrast to the bullishness on display in the stock market itself so far in 2017. It’s been said many times that bull markets climb a “wall of worry” but there seems to be a shortage of worry these days among professional investors. The CBOE SPX Volatility Index (VIX), the stock market’s favorite fear-gauge, has collapsed in recent months, hitting a low under 10 at the beginning of February. That’s the lowest level of market volatility recorded in two-and-a-half years … no worry here! And the percentage of Bullish Investment Advisors hit 62.7% last week, a 12-year high! No worry here, either.
- The World Now Faces A Devastating Endgame And How “They All Sold At The Absolute Bottom”
With continued uncertainty around the globe, today the man who has become legendary for his predictions on QE, historic moves in currencies, spoke with King World News about a devastating endgame the world faces and how they all sold the absolute bottom. “They All Sold At The Absolute Bottom” Egon von Greyerz: “Western central banks have a real knack for timing the sale of their gold reserves. They are absolute experts when it comes to picking the bottom of the gold market. Central banks in the UK, Switzerland and Norway, to mention a few, timed their sales to perfection. The only problem is that they all sold at the absolute bottom between 1999 and 2004. That was of course the time to buy gold and not to sell. But the finance ministers in charge of Western economies have no understanding of economics. They don’t even understand that the absolute destruction of their paper money is always revealed by the gold price…
- President of US Mint AP: Trump Tariff Could Divorce Physical Silver From Spot Prices!
Roy Friedman, President of US Mint Authorized Purchaser Manfra, Tordella, & Brookes Joined the Show This Week For A Fascinating Discussion On the Inner Workings of the US Physical Silver Bullion Market. Friedman Discusses The Coming Asset Reallocation, Physical Silver Bullion Shortages, & Trump: Could The Donald Be the Catalyst That Finally Separates the Paper and Physical Silver Markets?
- Man Who Advises Top Sovereign Wealth Funds In The World Says Price Of Silver Will Skyrocket In 2017
On the heels of a wild start to the 2017 trading year where the Dow has repeatedly hit new all-time highs, today King World News spoke with the man who advises the most prominent sovereign wealth funds, hedge funds, and institutional funds in the world. Eric King: “Michael, what’s exciting today is you have a new outperform in the precious metals sector.” Michael Belkin: “Yes, Eric. We have a new 7 stock basket of silver stocks that our model forecast says will outperform the silver universe. We’ve just introduced it in this week’s forecast and I’m recommending these stocks for new purchases right now. I think there is a big opportunity right now in silver stocks. I have silver stocks moving into an outperformance mode in relative and absolute terms.
- A New Monetary System Is Coming But We Are Being Threatened With A Crushing Blow To Our Way Of Life
With tensions heating up around the world, a new monetary system is coming but we are being threatened with a crushing blow to our way of life. A New Monetary System And A Threat To Our Way Of Life. Stephen Leeb: “I’m starting this interview with a depressing admission: today, for the first time in a pretty long life, geopolitical events are starting to really scare me to death. No, it’s not Trump, or any particular president, nor is it Korean missile tests or any other specific event in the news. Instead, I refer to America’s growing inability to see, think, or plan long term. Commodity shortages are coming, a new monetary system is coming, and a divided, short-sighted country has no response. We are threatened with a crushing blow to the U.S. and our way of life…
- The Mother Of All Financial Bubbles
At PeakProsperity.com, we pride ourselves on providing fact-based context to breaking important events. Within 72 hours of the Japan tsunami in 2011, we had analyzed the situation and concluded with high probability that three core meltdowns had occurred at the Fukushima nuclear plant. While it took years for officials to finally admit to the full extent of the crisis, history has validated our initial analysis. How did we get it right? By using a science-based approach grounded in observation, deduction and a healthy skepticism of what the “experts” in charge claimed. We also went to great lengths to educate our readers about the science in play, explaining in detail how radioactivity and contamination differ, the health risks from such a nuclear accident, and what concerned folks could do to remain as safe as possible.
- Russia Gold Buying Returns In January – Buys One Million Ounces
Russia gold buying returned in January with the Russian central bank buying a very large 1 million ounces or 37 metric tonnes of gold bullion. The increase in the gold reserves came after Russia did not buy a single ounce in December – a move seen as potentially a signal or an olive branch to the U.S. and the incoming Trump administration. It also came after Russia had accelerated its gold buying in the final months of the Obama Presidency. October 2016 saw an increase of 1.3 million ounces or 48 metric tonnes and this was the largest addition of gold to the Russian monetary reserves since 1998. Indeed, it was the biggest monthly gold purchase in this millennium for the Russian central bank.
- The Billionaire-Owned, Corporate Media is as Worthless as Ever
Rather than focus its journalistic energy on chronicling the economic insecurity plaguing so many of our fellow Americans, the billionaire-owned corporate media appears entirely obsessed with chattering endlessly about Russia conspiracy theories and domestic coup plots. Instead of looking in the mirror and admitting how its countless errors and propaganda pushing led to multiple humanitarian disasters over the last couple of decades, the oligarch-owned mainstream media insists upon a narrative that Trump the individual is at the root of our problems, as opposed to an entrenched executive branch with excessive power. This is because the mainstream media isn’t actually concerned about our cancerous, systemic metastasizing statism, it merely doesn’t want Trump in charge of it. I, on the other hand, want to dismantle that unconstitutional state entirely and transfer power to the American people where it belongs — self-government. Does anyone actually think for a second the media would be this adversarial if Hillary won?
- Iran Announces 2 Billion Barrel Shale Oil Find
The western province of Lorestan will be getting new attention from the Iranian oil ministry following the discovery of major shale oil reserves in the region, according to new reports emerging from the area. The resources, found in the Ghali Koh field, totaled two billion barrels, Bahman Soleimani, the National Iranian Oil Company’s Soleimani said on Monday, citing a recent study. “The oil is light,” he described. Other research on the area’s shale gas reserves will be completed by October 2017, the official added.
- Biggest Gasoline Glut In 27 Years Could Crash Oil Markets
Oil prices are stuck in a holding pattern, waiting for more definitive data on what comes next. OPEC compliance is helping keep prices afloat, but rising U.S. oil production is acting as a counterweight. A new problem that has suddenly emerged is the record levels of gasoline sitting in storage. The market has already had to digest the fact that U.S. crude oil stocks were rising, and investors have done their best to explain away the trend. But now gasoline inventories are climbing to unexpected heights. It would be one thing if crude stocks were rising, perhaps because refiners were going offline for maintenance. But if that were the case, then gasoline stocks would draw down on lower refining runs. But if both crude and refined product inventories are going up at the same time, then there should be some reasons for worry.
- The Stakes for Trump and All of Us — Paul Craig Roberts
We need to understand, and so does President Trump, that the hoax “war on terror” was used to transform intelligence agencies, such as the NSA and CIA, and criminal investigative agencies, such as the FBI, into Gestapo secret police agencies. Trump is now threatened by these agencies, because he rejects the neoconservative’s agenda of US world hegemony that supports the gigantic military/security annual budget. Our secret police agencies are busy at work planting “intelligence” among the presstitute media that Trump is compromised by “Russian connections” and is a security threat to the United States. The plan is to make a case in the media, as was done against President Nixon, and to force Trump from office. To openly take on a newly elected president is an act of extraordinary audacity that implies enormous confidence, or else desperation, on the part of the police state agencies.
- China pushes for open world economy
Chinese Foreign Minister Wang Yi told a G20 meeting in Bonn, Germany on Thursday that Beijing wants to see an open world economy system and said his country stresses multilateralism and globalization. He called on his German hosts to work with China to promote global rebalancing and safeguard trade and investment liberalization and facilitation. He said such efforts would ensure continued global economic growth. During his meeting with (EU) foreign policy chief Federica Mogherini that China and Europe should work together on global security and trade. He also called on the EU to fast track Article 15 of the protocol on China’s entry into the World Trade Organization.
- A new arms race in the Middle East?
New data from the Stockholm International Peace Research Institute on global weapons sales indicates that there may be an arms race in full swing in the Middle East and Asia. According to a report on trends in international transfers of major weapons published by SIPRI, arms sales have reached their highest since the late 1980s, just before the end of the Cold War. “The flow of arms increased to Asia and Oceania and the Middle East between 2007–11 and 2012–16, while there was a decrease in the flow to Europe, the Americas and Africa,” SIPRI says. SIPRI examines arms imports in five-year increments.
- The Russian Love Affair With Donald Trump Sours As The U.S. And Russia Move Toward War
In recent months Donald Trump has been severely criticized by both Democrats and Republicans for not being sufficiently “anti-Russia”, but the truth is that the Trump administration has not been working hard enough to repair a relationship that is now souring very rapidly. When Donald Trump won the election in November, the Russians celebrated tremendously, because they greatly preferred Trump over Hillary Clinton. But just because Trump was victorious does not mean that our relationship with Russia will automatically improve. Trump and Russian President Vladimir Putin both have huge egos, and it is quite easy to imagine a scenario in which things between them go very, very badly.
- What Exactly is the “Deep State” People Are Talking About???
Prior to the 2016 presidential election, there were many topics that were deemed “off limits” by academia, the media, the establishment, the “Powers That Be,” or whatever other crafty names a person can think of to describe the invisible hand that guides society. Over the last several decades, by using agents within academia, the media, and Hollywood to assist them, those very same aforementioned powers have “conditioned” the masses (without many even realizing it), on how to respond to people who ask too many questions about complex or controversial topics. The “Deep State” is one of those topics.
- Will We See an “American Spring” 2017? We Better…
In 2011, a revolutionary wave of both violent and non-violent demonstrations, protests, riots, coups and civil wars arose seemingly independently of one another, and spread across the Arab world. Today, we know U.S. intelligence agencies (aka the “deep state”) were involved many of the uprisings. In some instances entire regimes fell, and in other instances there were far less predictable outcomes. In light of how many career bureaucrats have been very vocal about their unhappiness with President Trump’s surprise victory, is it really all that shocking to see the same intelligence apparatus relentlessly launching assaults against the Trump Administration? In a word: Yes. Why? One of the hallmarks of what makes America such a unique and special country, has always been our peaceful transition of power with each new administration since our country’s inception… but all that was “pre-Obama.”
- Fed Frets about Commercial Real Estate Bubble & its $2 Trillion in Loans Mostly at “Smaller Banks”
The fear of what Fed Chair Janet Yellen on Tuesday – and other Fed governors earlier – called “waiting too long” before raising interest rates is increasingly inserting itself into Fed pronouncements. One of the aspects – and this is getting articulated with increasing intensity – is commercial real estate (CRE) and its impact on banks whose nearly $2 trillion in CRE loans are backed by collateral whose boom-prices are known to crash periodically in phenomenal busts. Or is it the fear of “having already waited too long?”
- “Seriously Delinquent” Auto Loans Surge – Bank regulators have been warning, now it’s happening.
The New York Fed, in its Household Debt and Credit Report for the fourth quarter 2016, put it this way today: “Household debt increases substantially, approaching previous peak.” It jumped by $226 billion in the quarter, or 1.8%, to the glorious level of $12.58 trillion, “only $99 billion shy of its 2008 third quarter peak.” Yes! Almost there! Keep at it! There’s nothing like loading up consumers with debt to make central bankers outright giddy. Auto loan balances in 2016 surged at the fastest pace in the 18-year history of the data series, the report said, driven by the highest originations of loans ever. Alas, what the auto industry has been dreading is now happening: Delinquencies have begun to surge.
- S&P 500 Earnings Stuck at 2011 Levels, Stocks up 87% Since
The S&P 500 stock index edged up to an all-time high of 2,351 on Friday. Total market capitalization of the companies in the index exceeds $20 trillion. That’s 106% of US GDP, for just 500 companies! At the end of 2011, the S&P 500 index was at 1,257. Over the five-plus years since then, it has ballooned by 87%! These are superlative numbers, and you’d expect superlative earnings performance from these companies. Turns out, reality is not that cooperative. Instead, net income of the S&P 500 companies is now back where it first had been at the end of 2011. Hype, financial engineering, and central banks hell-bent on inflating asset prices make a powerful fuel for stock prices.
- Trump Administration Toughens Asylum Rules, Speeds Deportation Process
Amid judicial blockages, and rogue border agents, it appears the Trump administration is still trying its best to follow through on its campaign promises to crackdown on illegal immigration. As Reuters reports, The Department of Homeland Security has prepared new guidance for immigration agents aimed at speeding up deportations by denying asylum claims earlier in the process. Following last week's apparent crackdown on DREAMers, Reuters reports new guidelines, contained in a draft memo dated February 17 but not yet sent to field offices, directs agents to only pass applicants who have a good chance of ultimately getting asylum, but does not give specific criteria for establishing credible fear of persecution if sent home.
- North Korea's Regime In Jeopardy After China Bans All Coal Imports
North Korea just lost a very big ally. On Saturday, China said that it was suspending all imports of coal from North Korea as part of its effort to implement United Nations Security Council sanctions aimed at stopping the country’s nuclear weapons and ballistic-missile program. The ban, according to a statement posted on the website of the Chinese Commerce Ministry, takes effect on today and will last until the end of the year. While China will hardly suffer material adverse impacts, Chinese trade – and aid – have long been a vital economic crutch for North Korea, and the decision strips North Korea of one of its most important sources of foreign currency.
- “There's Something Weird Going On”: Jeff Snider On The Global Dollar Shortage
The first time we explained that one of the biggest risks facing a world in which the dollar is the reserve currency is a global USD shortage, was in mid-2009, when we wrote “How The Federal Reserve Bailed Out The World.” At the time, the IMF calculated that just ahead of the financial crisis, “major European banks’ US dollar funding gap had reached $1.0–1.2 trillion by mid-2007. Until the onset of the crisis, European banks had met this need by tapping the interbank market ($432 billion) and by borrowing from central banks ($386 billion), and used FX swaps ($315 billion) to convert (primarily) domestic currency funding into dollars.” The IMF then extrapolated that “were all liabilities to non-banks treated as short-term funding, the upper-bound estimate would be $6.5 trillion.”
- US Aircraft Carrier Group Begins “Routine” Patrols In Disputed South China Sea
Threatening to destabilize the tentative improvement in Sino-US relations achieved in recent days following Trump's recent concession over the “One China” policy, was the US deployment of the aircraft carrier USS Carl Vinson (CVN-70) to the disputed waters of the South China Sea on Saturday as part of maritime “routine operations”, according to an announcement posted on the Vinson's Facebook page. Sailing with the 97,000-ton Vinson is the guided-missile destroyer USS Wayne E. Meyer, the Navy said in a statement. The Vinson carries a flight group of more than 60 aircraft, including F/A-18 jet fighters.
- New Political Turmoil In Italy After Renzi Quits As Ruling Party Leader, Triggering Re-election Battle
Two months after an unexpected, landslide loss in the December 4 constitutional referendum which cost him his job as Italy's prime minister, on Sunday Matteo Renzi quit as leader of Italy’s ruling party, in the process triggering a re-election fight against minority dissidents that threatens the stability of the center-left government, Bloomberg reports. Renzi told a national assembly of the ruling PD that he had handed in his resignation acknowledging he was set back by defeat in last year's referendum, one day after critics from leftist factions threaten to abandon the Democratic Party.
- The Unthinkable Just Happened In Spain
Untouchable. Inviolable. Immunity. Impunity. These are the sort of words and expressions that are often associated with senior central bankers, who are, by law, able to operate more or less above the law of the jurisdictions in which they operate. Rarely heard in association with senior central bankers are words or expressions like “accused”, “charged” or “under investigation.” But in Spain this week a court broke with that tradition, in emphatic style. As part of the epic, multi-year criminal investigation into the doomed IPO of Spain’s frankenbank Bankia – which had been assembled from the festering corpses of seven already defunct saving banks – Spain’s national court called to testify six current and former directors of the Bank of Spain, including its former governor, Miguel Ángel Fernández Ordóñez, and its former deputy governor (and current head of the Bank of International Settlements’ Financial Stability Institute), Fernando Restoy. It also summoned for questioning Julio Segura, the former president of Spain’s financial markets regulator, the CNMV (the Spanish equivalent of the SEC in the US).
- ‘I will not submit!' Marine Le Pen REFUSES to grovel to Merkel and EU in swipe at elite
MARINE Le Pen delivered a rousing speech last night promising that as French President she will not take instructions from Angela Merkel nor beg for her approval. Marine Le Pen continued her fight for the French Presidency, as she laid her policies to put her country's sovereignty first and foremost. In a rallying cry to a crowd in Clairvaux-Les-Lacs, Ms Le Pen said she will not bow down to Angela Merkel and Jean-Claude Juncker. She said that for too long nationals leaders had to ask for permission from the German Chancellor before announcing any action.
- Pastor Lindsey Williams introduces Pastor David Bowen – February 23, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams' weekly newsletter.
Latest News From February 3, 2017 to February 9, 2017:
- Debt Apocalypse Beckons As U.S. Consumer Bankruptcies Do Something They Haven’t Done In Almost 7 Years
When debt grows much faster than GDP for an extended period of time, it is inevitable that a good portion of that debt will start to go bad at some point. We witnessed a perfect example of this in 2008, and now it is starting to happen again. Commercial bankruptcies have been rising on a year-over-year basis since late 2015, and this is something that I have written about previously, but now consumer bankruptcies are also increasing. In fact, we have just witnessed U.S. consumer bankruptcies do something that they haven’t done in nearly 7 years.
- Last year, Obama gave $27B to lawless ‘sanctuary’ cities
On January 25, 2017, his third full day on the job in the White House, President Trump fulfilled more of the promises he’d made — those concerning illegal “immigration” — by signing two executive orders: Executive Order: Border Security and Immigration Enforcement Improvements, which authorizes the construction of a wall along the porous U.S.-Mexico border. Executive Order: Enhancing Public Safety in the Interior of United States, which authorizes the denial of federal funds to “sanctuary” states and cities that willfully violate Federal immigration law in an attempt to shield aliens, including criminals, from removal from the United States and, in so doing, “have caused immeasurable harm to the American people and to the very fabric of our Republic.” As White House spokesman Sean Spicer put it, “The American people are no longer going to have to be forced to subsidize this disregard for our laws.”
- How George Soros Singlehandedly Created The European Refugee Crisis – And Why
George Soros is trading again. The 85-year-old political activist and philanthropist hit the headlines post-Brexit saying the event had “unleashed” a financial-market crisis. Well, the crisis hasn’t hit Soros just yet. He was once again on the right side of the trade, taking a short position in troubled Deutsche Bank and betting against the S&P via a 2.1-million-share put option on the SPDR S&P 500 ETF. More interestingly, Soros recently took out a $264 million position in Barrick Gold, whose share price has jumped over 14% since Brexit. Along with this trade, Soros has sold his positions in many of his traditional holdings. Soros had recently announced he was coming out of retirement, again. First retiring in 2000, the only other time Soros has publicly re-entered the markets was in 2007, when he placed a number of bearish bets on US housing and ultimately made a profit of over $1 billion from the trades.
- Prominent Republicans Pitch Carbon-Tax Plan to Top Trump Aides
A group of prominent Republicans and business leaders pitched a tax on carbon dioxide to top White House aides Wednesday, selling the plan as an economic win that could drive job growth and yield environmental dividends too. Former Secretary of State James Baker and other members of the new “Climate Leadership Council” pressed the case in a 45-minute meeting in the Roosevelt Room that included President Donald Trump’s top economic adviser Gary Cohn, Chief of Staff Reince Priebus and senior aide Kellyanne Conway. “The signs were very encouraging,” Ted Halstead, who founded the council, said after the meeting. “Two weeks into this new administration, we have positioned our solution as the most promising climate solution — if they want to go there.”
- Millennials are struggling at work because their parents ‘gave them medals for coming last'
Bosses the world over are struggling with their millennial employees – they say we confound leadership, are self-entitled, narcissistic, lazy and tough to manage. But according to motivational speaker and author Simon Sinek, this is the result of our parents’ “failed parenting strategies.” After the astounding success of his video on millennials in the workplace, which has had over 56 million views on Facebook alone, Sinek spoke to The Independent about how our parenting, combined with social media, working environments and our impatience have created a generation plagued by low self-esteem, and what we can do about it.
- Which Assets Are Most Likely To Survive The “System Reset”?
Your skills, knowledge and and social capital will emerge unscathed on the other side of the re-set wormhole. Your financial assets held in centrally controlled institutions will not. Longtime correspondent C.A. recently asked a question every American household should be asking: which assets are most likely to survive the “system re-set” that is now inevitable? It's a question of great import because not all assets are equal in terms of survivability in crisis, when the rules change without advance notice. If you doubt the inevitability of a system implosion/re-set, please read Is America In A Bubble (And Can It Ever Return To “Normal”)? This brief essay presents charts that reveal a sobering economic reality: America is now dependent on multiple asset bubbles never popping–something history suggests is not possible.
- Dirty Vaccines: Every Human Vaccine Tested Was Contaminated With Metals and Debris in New Study
Researchers examining 44 samples of 30 different vaccines found dangerous contaminants, including red blood cells in one vaccine and metal toxicants in every single sample tested – except in one animal vaccine. Using extremely sensitive new technologies not used in vaccine manufacturing, Italian scientists reported they were “baffled” by their discoveries which included single particles and aggregates of organic debris including red cells of human or possibly animal origin and metals including lead, tungsten, gold, and chromium, that have been linked to autoimmune disease and leukemia.
- FDA finally admits chicken meat contains cancer-causing arsenic
After years of sweeping the issue under the rug and hoping no one would notice, the FDA has now finally admitted that chicken meat sold in the USA contains arsenic, a cancer-causing toxic chemical that’s fatal in high doses. But the real story is where this arsenic comes from: It’s added to the chicken feed on purpose! Even worse, the FDA says its own research shows that the arsenic added to the chicken feed ends up in the chicken meat where it is consumed by humans. So for the last sixty years, American consumers who eat conventional chicken have been swallowing arsenic, a known cancer-causing chemical.
- Records: Soros Fund Execs Funded Paul Ryan, Marco Rubio, Jeb Bush, John McCain, John Kasich, Lindsey Graham in 2016
Employees of a hedge fund founded by the king of the Institutional Left, billionaire and Democratic Party mega-donor George Soros, donated tens of thousands of dollars to top Republicans who fought against President Donald Trump in 2016, donation records compiled by the Center for Responsive Politics show. Soros Fund Management, a former hedge fund that serves now as an investment management firm, was founded by progressive billionaire George Soros in 1969. It has risen to become one of the most profitable hedge funds in the industry. Employees of the firm are heavily involved in backing political candidates giving millions upon millions to groups that were supporting failed 2016 Democratic presidential nominee Hillary Rodham Clinton for the presidency.
- White House Releases List Of Terror Attacks It Considers Underreported By The Media
The White House released a list Monday night of the terror attacks it believes were underreported by the media. CNN’s Jim Acosta said his producer was given the list of the 78 attacks outside of the White House. Though he did not read the list in full on air, Acosta said it included attacks like Paris, Brussels, Nice, Istanbul and San Bernardino. Dan Merica said a White House official told him that “most of these attacks did not receive adequate attention from Western media sources.”
- President Trump is now speculating that the media is covering up terrorist attacks
Speaking to the U.S. Central Command on Monday, President Trump went off his prepared remarks to make a truly stunning claim: The media was intentionally covering up reports of terrorist attacks. “You’ve seen what happened in Paris, and Nice. All over Europe, it’s happening,” he said to the assembled military leaders. “It’s gotten to a point where it’s not even being reported. And in many cases the very, very dishonest press doesn’t want to report it. They have their reasons, and you understand that.” The comment immediately harked back to comments from senior adviser Kellyanne Conway on MSNBC last week.
- The Leftwing Has Placed Itself In The Trash Can Of History
At a time when the Western world desperately needs alternative voices to the neoliberals, the neoconservatives, the presstitutes and the Trump de-regulationists, there are none. The Western leftwing has gone insane. The voices being raised against Trump, who does need voices raised against him, are so hypocritical as to reflect less on Trump than on those with raised voices. Sharon Kelly McBride, speaking for Human Rights First, sent me an email saying that Trump stands on the wrong side of “America’s ideals” by his prohibition of Muslim immigrants into the US.
- Trump Is Right: Silicon Valley Is Using H-1B Visas To Pay Low Wages To Immigrants
On the heels on its controversial immigration ban targeting seven Muslim-majority countries, the Trump administration has drafted a new executive order that could actually mean higher wages for both foreign workers and Americans working in Silicon Valley. The Silicon Valley companies, of course, will not be happy if it goes into effect. The order aims to overhaul and limit work visas, notably the H-1B visa program. Tech companies rely on these to bring in foreign talent. Their lobbyists claim there is a “talent shortage” among Americans and thus that the industry needs more of such work visas. This is patently false. The truth is that they want an expansion of the H-1B work visa program because they want to hire cheap, immobile labor — i.e., foreign workers.
- O'Reilly said Putin is a killer. Trump's reply: ‘You think our country is so innocent?'
President Donald Trump has long been effusive in his praise for Russian President Vladimir Putin, despite criticism from Republicans and Democrats alike. In an interview with Fox News' Bill O'Reilly, which will air ahead of the Super Bowl on Sunday, Trump doubled down on his “respect” for Putin – even in the face of accusations that Putin and his associates have murdered journalists and dissidents in Russia. “I do respect him. Well, I respect a lot of people, but that doesn't mean I'll get along with them,” Trump told O'Reilly. O'Reilly pressed on, declaring to the president that “Putin is a killer.” Unfazed, Trump didn't back away, but rather compared Putin's reputation for extrajudicial killings with the United States. “There are a lot of killers. We have a lot of killers,” Trump said. “Well, you think our country is so innocent?”
- Bill O’Reilly, meet the real “KILLER”. Barack Obama’s massive kill list in charts
Former POTUS Barack Obama may have played the part of a dainty liberal, but don’t be fooled, deep down Barack was a killer. A killer of mass proportions. As the US liberal and neocon media freak out over Trump’s interview with Fox News’ Bill O’Reilly, where Trump (GASP) admitted that he “respects” Putin, and America “is not so innocent” when it comes to killing…we present to you the real stone cold killer. When it comes to racking up ‘kills’, no one was more deadly these last eight years than Barack Hussein Obama. No world leader even comes close to Obama’s kill stats.
- A bill has already been introduced in Congress to remove the US from the United Nations
A bill introduced by Alabama Rep. Mike Rogers earlier this month calls on the US to “terminate” its membership in the United Nations and effectively sever all ties with the organization. The bill, titled the American Sovereignty Restoration Act of 2017, was proposed on January 3. It is cosponsored by a handful of Republican lawmakers, including North Carolina Rep. Walter Jones, Arizona Rep. Andy Biggs, Missouri Rep. Jason Smith, Kentucky Rep. Thomas Massie, Tennessee Rep. John Duncan Jr., and Florida Rep. Matt Gaetz. Biggs said in a statement on Monday that he cosponsored the bill because he believes that “our sovereignty as a country is harmed by our membership in this body.”
- Trump to order regulatory rollback Friday for finance industry starting with Dodd-Frank
President Trump plans to order a rollback Friday of regulations governing the financial services industry and Wall Street under the Dodd-Frank law and beyond, a White House source confirmed. Gary Cohn, White House Economic Council director, told the Wall Street Journal in an interview published last night that the administration would also move against a regulation designed to force retirement advisers to work in the best interest of their clients. That “fiduciary rule” is set to take effect in April. Promulgated by the Department of Labor, it’s meant to eliminate conflicts-of-interest among professionals dealing with people enrolled in qualified retirement plans and IRAs.
- Trump’s Enemies Within
How on earth is all this stuff getting in the newspapers? Bob Haldeman told Richard Nixon that he had uncovered the culprit: Mark Felt, a top official at the FBI. “Now why the hell would he do that?” asked Nixon, who was secretly recording the exchange. Cracking down on Felt directly was out of the question, the two men agreed. “If we move on him, then he’ll go out and unload everything,” Haldeman said, of the man later revealed as Deep Throat. “He knows everything that’s to be known in the FBI.”
- President Trump Speaks: Here's Why They Hate Him
The political elites hate him on both sides of the Atlantic. Why? Because he's not on board with their precious New World Order. RTV takes a closer look at President Trump's inauguration speech and its ramifications. Trump is far from perfect, but so was Constantine…and look how God used him. Pray for President Donald J. Trump!
- U.N. Official Admits Global Warming Agenda Is Really About Destroying Capitalism
A shocking statement was made by a United Nations official Christiana Figueres at a news conference in Brussels. Figueres admitted that the Global Warming conspiracy set by the U.N.’s Framework Convention on Climate Change, of which she is the executive secretary, has a goal not of environmental activists is not to save the world from ecological calamity, but to destroy capitalism. She said very casually: “This is the first time in the history of mankind that we are setting ourselves the task of intentionally, within a defined period of time, to change the economic development model that has been reigning for at least 150 years, since the Industrial Revolution.”
- Scientists have a plan to replace fossil fuels with nuclear fusion by 2030
Nuclear fusion is premised on building technology that would replicate the reaction that naturally powers our Sun – two light atoms, in this case, hydrogen, are fused together under extreme temperatures to produce another element, helium. The process would release vast amounts of clean energy drawn from an almost limitless fuel source, with nearly zero carbon emissions. However, it has yet to be done on a scale that would make it usable. Canadian scientists are hoping to change that, announcing plans to harness and develop nuclear fusion technology so they can deliver a working nuclear fusion plant prototype by 2030. What they need, however, is for the government to invest in their vision.
- FDA quietly bans powerful life-saving intravenous Vitamin C
It would be naive to think that the FDA endeavors to protect the public’s health as its primary focus. Indeed, that would be a conflict of interest, as it serves its master, the pharmaceutical industry. Has the Food and Drug Administration engineered a shortage of intravenous vitamin C as part of an overall attack on natural and non-toxic approaches to healing that compete with prescription drugs? An analysis by Natural Blaze would suggest that the answer is yes.
- Halftime HELL: Satan speaks through Lady Gaga to declare dominion over the Earth (while Pope Francis blesses) (satire)
Before you get into this article, note that I’m marking it “satire.” Yet none of the themes unveiled here are actually funny. This is serious stuff… it’s just that 99.9% of humanity isn’t ready to cognitively grasp what I’m about to present here, so until people are more ready to face the reality of demonic evil in our world, I’m going to label all this a weekend joke. Funny, isn’t it? If it’s too much for you, don’t take it too seriously. The NFL is a joke anyway, right? The average Superbowl viewer is so totally clueless about reality that they have no idea what they’re even watching. Over the last several years, the NFL has slowly given way to the agenda of truly evil globalists, pushing quack science fraud (breast cancer “awareness” propaganda), anti-American hatred (Colin Kaepernick’s nauseating antics), cultural subversion agendas and vulgar halftime shows that frequently invoke Satanic imagery in ritualistic fashion (see the multitude of photos and videos below for proof).
- Liberal lynch mob trolling Trump could bring down US democracy
The Left's non-stop temper tantrum since Trump's election win is revealing an ugly underbelly of the Democratic Party – think Rosie O'Donnell mud-wrestling with a pig – where a rogues’ gallery of provocateurs aims to delegitimize conservative rule. First, some necessary background: for 15 uninterrupted years of US military escapades abroad, eight of those years on Obama's watch, the Liberal Left could not be awakened from its somnambulist slumber, not even to hold a meaningful antiwar protest in the spirit of their Vietnam-era forebears.
- Permaculture, Politics and Solutions Thinking
How we think colours everything we do, that is indisputable. Our biases definitely affect our objectivity and clarity as well as our judgement, factors critical to effective solutions thinking. Permaculture is a discipline which embodies systems thinking, the ability to think holistically, to clearly see what is before us in its entirety, and to understand the relationships between elements of a system. Equally important to Permaculture is solutions thinking, the ability to create optimal solutions to address specific problems.
- New Warming On European Banks
The European Banking Authority (EBA) just called for urgent action to be taken in regards to European banks’ bad loans. Because Italy is not the only country having to grapple with this problem: EBA’s chairman, Andrea Enria, is worried that ten European countries have more than 10% in non-performing loans (NPLs), which shows the extreme fragility of their banking system. Those NPLs are loans for which the payments are late for 90 days or more.
- The Other “Ban” That Was Quietly Announced Last Week
Most of the world is in an uproar right now over the travel ban that Donald Trump hastily imposed late last week on citizens of seven predominantly Muslim countries. But there was another ban that was quietly proposed last week, and this one has far wider implications: a ban on cash. The European Union’s primary executive authority, known as the European Commission, issued a “Road Map” last week to initiate continent-wide legislation against cash. There are already a number of anti-cash legislative measures that have been passed in individual European member states. In France, for example, it’s illegal to make purchases of more than 1,000 euros in cash.
- Pound, Dollar, Euro and Yen Will be Worthless Within Five Years
The new US Administration has taken over with the conviction that they will “make America great again”. I really wish they will succeed because a strong US would be good for the world. Sadly, the odds of achieving that admirable objective are totally stacked against them. At the end of the next 4 years, there is a risk that this Administration will be more hated than any government since Carter and possibly even more disliked than Hoover.
- Is Italy’s Banking Problem Becoming Too Big to Solve?
Ever since the European Commission and ECB jointly decided that Italy’s government could bend EU banking rules out of all recognition in order to bail out the country’s third largest bank, Monte dei Paschi di Siena, Europe’s financial stocks have been on a tear. But the good times were brought to a grinding halt Monday after Italy’s largest bank, Unicredit, which employs 55,000 people in 17 countries, announced losses for 2016 of €11.8 billion. By the bank’s logic, it would have announced profits if it hadn’t had to write off €12.2 billion, including billions of euros of non-performing loans (NPLs) festering on its balance sheets.
- Markets Smell a Rat as Central Banks Dither
Markets are suspecting that central banks are in the process of exiting this fabulous multi-year party quietly, and that on the way out they won’t refill the booze and dope, leaving the besotted revelers to their own devices. That thought isn’t sitting very well with these revelers. In markets where central banks have pushed government bond prices into the stratosphere and yields, even 10-year yields, below zero, there has been a sea change.
- California in the red by $127.2 billion, state auditors say
A financial report issued by state auditors finds that the state of California is in the red by an unsustainable $127.2 billion. The report says that the state’s negative status increased that year, largely because it spent $1.7 billion more than it received in revenues and wound up with an accumulated deficit of just under $23 billion in fiscal year 2011-2012, the Sacramento Bee stated. Gov. Jerry Brown has referred to the deficit and other budget gaps, mostly money owed to schools, as a “wall of debt” totaling more than $30 billion, the Sacramento Bee reported. About half of the deficit came from the state issuing general obligation bonds and then giving the money to local governments and school districts for public works projects. The report listed California’s long-term obligations at $167.9 billion, nearly half of which ($79.9 billion) were in general obligation bonds, with another $30.8 billion in revenue bonds, the Sacramento Bee reported.
- It’s Time We Talked About Our Owners – How vast asset managers impact “our increasingly cartelized economy.”
The world’s biggest asset manager, BlackRock, was splashed across the front pages of the Spanish financial news yesterday. The firm had just raised raised its stake in Spain’s telecoms giant Telefónica to 336 million shares — the equivalent of 6.7% of Telefónica’s total capital, with a market value of just under €3 billion. In the short space of five months BlackRock has almost doubled its holdings and is now the largest owner of Telefónica stock, ahead of Spain’s second biggest bank, BBVA, which holds 6% of the shares. The asset manager has also expanded its participation in Telefónica’s international subsidiaries, raising its holdings in Telefónica Deutschland to 0.76% and Telefónica Brasil to almost 2%, making it the firm’s biggest institutional shareholder.
- We Are Moving Forward: The Future of Oil and Gas
Oil will hold a dominant position in the world energy demand at least next 20 years. Despite the small decline, oil will secure as many as 29 percent of world energy demand by 2035 vs 32 percent in 2015. The slight decline by 3 percent will occur because of gas, nuclear and renewables (including biofuels) sectors rise in the world energy demand share. ‘Global oil production becomes geographically more concentrated as low cost producers gain share. The Middle East, US, and Russia account for 63% of oil production in 2035, up from 56% in 2015.’ BP reports in its Energy Outlook-2017. BP publishes its energy outlooks on a regular basis. The Energy Outlooks allow to track in details the global energy trends. One of those energy trends is that BP expects 106 million barrels of oil per day as demand and 107 million barrels of oil per day as supply by 2035. North America will hold its dominant in gas production. BP considers North America will produce 1.33 billion t.o.e. of gas per year by 2035 what makes 31 percent share of the global gas production. North America has been keeping its dominant in gas production since 1995, by the way. Before 1995 episodically North America had been ‘overtaken’ in gas production by USSR. USSR collapsed in 1991 while the previous year – 1990 was the last year when Soviets could produce more gas than the entire North America. In 1990 USSR produced 672 million t.o.e of gas versus 584 million t.o.e produced in North America. In 1995 North America got 651.7 million t.o.e of gas while Soviets faced only 569.1 million t.o.e. North America leads in the global gas production ever since.
- Whistle-Blower: ‘Global Warming’ Data Manipulated Before Paris Conference
A high-level whistleblower at the National Oceanic and Atmospheric Administration (NOAA) has revealed that the organization published manipulated data in a major 2015 report on climate change in order to maximize impact on world leaders at the UN climate conference in Paris in 2015. According to a report in The Mail on Sunday, NOAA scientist Dr. John Bates has produced “irrefutable evidence” that the NOAA study denying the “pause” in global warming in the period since 1998 was based on false and misleading data. The NOAA study was published in June 2015 by the journal Science under the title “Possible artifacts of data biases in the recent global surface warming hiatus.”
- Shell To Sell Another $5B In Assets, Misses Profit Expectations
Royal Dutch Shell (NYSE:RDS.A) is making “significant progress” on selling another US$5 billion worth of assets, chief financial officer Simon Henry said on Thursday after the oil supermajor reported 2016 profits below analyst expectations. Shell’s current cost of supplies (CCS) – a key measure comparable with net income – came in at US$1.8 billion, excluding identified items, compared with US$1.6 billion for the fourth quarter 2015, the company said today. Full-year 2016 CCS earnings attributable to shareholders excluding identified items dropped to US$7.2 billion from US$11.4 billion in 2015. The fourth-quarter profit fell short of analyst estimates by around US$1 billion, according to Bloomberg.
- Weatherford Slashes Another 3,000 Jobs
As part of its strategy to further cut costs and reduce debt, oilfield services company Weatherford International (NYSE:WFT) said on Thursday that it had launched another head count reduction plan totaling 3,000 employees. Weatherford’s Chief Financial Officer and Executive Vice President Christoph Bausch said at the company’s earnings call on Thursday for the fourth-quarter and full-2016 results: “At the time of this call, we have already reduced 2,000 employees out of the 3,000 mentioned before.” In its drive to cut more costs, Weatherford will also pull back its pumping operations in the U.S. and close additional uneconomical field locations, Bausch said, adding that all those actions are expected to generate additional annualized cost savings of about US$300 million.
- Fukushima nuclear reactor radiation at highest level since 2011 meltdown
Extremely high radiation levels have been recorded inside a damaged reactor at the Fukushima Daiichi nuclear power station, almost six years after the plant suffered a triple meltdown. The facility’s operator, Tokyo Electric Power (Tepco), said atmospheric readings as high as 530 sieverts an hour had been recorded inside the containment vessel of reactor No 2, one of three reactors that experienced a meltdown when the plant was crippled by a huge tsunami that struck the north-east coast of Japan in March 2011. The extraordinary radiation readings highlight the scale of the task confronting thousands of workers, as pressure builds on Tepco to begin decommissioning the plant – a process that is expected to take about four decades.
- Russian economy to emerge from contraction
Russia’s economy ministry on Monday said that GDP growth fell by one per cent in December from the same time last year. In October, the economy contracted by 0.6 per cent but grew in November by a revised 0.9 per cent. For 2016 as a whole, GDP fell 0.6 per cent from 2015. According to forecasts by the World Bank, International Monetary Fund and the UN, Russia’s economy has beaten the effects of US and European Union sanctions over the Ukraine crisis. In 2017, GDP growth is expected between one and 1.5 per cent.
- Things Just Got Serious in Europe’s War on Cash
The central authorities in Europe just launched their most important offensive to date in their multiyear War on Cash. The new move comes directly from the European Union’s executive branch, the European Commission, which just announced its intention to “explore the relevance of potential upper limits to cash payments,” with a view to implementing cross-regional measures in 2018. Maximum limits on cash transactions already exist in most European countries, and the general trend is downward. Last year, Spain joined France in placing a €1,000 maximum on cash payments. Greece went one better, dropping its cap for cash transactions from €1,500 to €500. In simple terms, any legal purchase of a good or service over €500 will need to be done with plastic or mobile money.
- Gerald Celente Issues Major Trend Alert On The Road For The Gold Market In 2017
With the price of gold surging above the critical $1,220 level, the top trends forecaster in the world, Gerald Celente, just issued a major trend alert on the road for the gold market in 2017. Here Is What To Look For In The Gold Market In 2017. Gerald Celente — Trends are born, they grow, mature, reach old age and die. The Donald Trump, President of the United States of America, Trend has just been born. Never in modern history has the nation stood so divided and nations across the globe so alarmed following the election of the leader of the world’s largest economy and most powerful military…
- The Alternative Fact of the Cashless Society
Last week a new phrase was introduced into our lexicon by Trump Adviser Kellyanne Conway. When asked about why press secretary Sean Spicer had made statements that were (according to the press) unverifiable she said that he had used ‘alternative facts’. This prompted a raft of satire, journalists to flail their arms up at the audacity of Conway and Trump’s administration, and for people to rush out and buy George Orwell’s 1984. Penguin, the world’s largest publisher, ordered a 75,000 copy reprint last week. Apparently more than the ‘typical reprint’ for the 1949 Orwellian classic. The ‘alternative facts’ statement echoed of ‘Newspeak’ the language used by the totalitarian government in Orwell’s 1984 to influence and control its citizens of Airstrip One (previously Britain).
- Cal Berkeley Fascists Violently Protest Free Speech
150 masked “protesters” at Cal Berkeley, precisely 0.0039 percent of the 38,000 student body was all it took to shut down free speech at the University of California, Berkeley. The protesters are so confused that they see the shutdown as a victory for free speech. Something is wrong here. The 150 violent protesters are masked, so we don’t know if they are students or a Deep State operation against President Trump. The protesters are behaving as fascists by shutting down free speech. By associating the exercise of free speech with fascism, the protesters appear to be too stupid to be Cal Berkeley students. When I was a graduate student at Cal Berkeley, there were high admission standards. Perhaps those standards have been declared to be racist and were thrown out with the bath water.
- Leaked Draft of Trump’s Religious Freedom Order Reveals Sweeping Plans to Legalize Discrimination
A leaked copy of a draft executive order titled “Establishing a Government-Wide Initiative to Respect Religious Freedom,” obtained by The Investigative Fund and The Nation, reveals sweeping plans by the Trump administration to legalize discrimination. The four-page draft order, a copy of which is currently circulating among federal staff and advocacy organizations, construes religious organizations so broadly that it covers “any organization, including closely held for-profit corporations,” and protects “religious freedom” in every walk of life: “when providing social services, education, or healthcare; earning a living, seeking a job, or employing others; receiving government grants or contracts; or otherwise participating in the marketplace, the public square, or interfacing with Federal, State or local governments.”
- Amazon sinks as revenue misses, guidance disappoints
The online retail technology company reported fourth-quarter earnings that beat analysts' expectations on Thursday, but revenue that fell short of estimates. It also gave future guidance that was below the average estimate. Shares dropped more than 4 percent after hours. The free-spending company has invested heavily in new projects and infrastructure to meet ballooning demand as more shopping moves online. Amazon keeps taking business from traditional retailers, which are closing stores by the hundreds. But it also offers promotions to have the lowest prices, a “cost of doing business,” chief financial officer Brian Olsavsky said.
- Student Loan Reforms to Watch for in 2017
So far, the Trump administration continues to deliver on some key campaign promises. These promises include the travel ban, federal hiring freeze, and authorizing the construction of the US-Mexico border wall. Higher education is another issue Trump will likely be addressing in the coming months, as it continually ranks as the biggest source of consumer debt today.
- America’s Problem with Student Loans Is Much Bigger Than Anybody Realized
The Department of Education recently released a memo admitting that repayment rates on student loans have been grossly exaggerated. Data from 99.8% of schools across the country has been manipulated to cover up growing problems with the $1.3 trillion in outstanding student loans. New calculations show that more than half of all borrowers from 1,000 different institutions have defaulted on or not paid back a single dollar of their loans over the last seven years. This comes in stark contrast to previous claims and should call into question any statistics provided by government agencies. The American people haven’t fully grasped the long-term implications of loaning a trillion dollars to young people who have no credit or assets.
- US Productivity Growth Has Never Been This Low For This Long
Despite slowing US productivity growth QoQ in Q4 (from +3.5% in Q3 to +1.3% in Q4), overall productivity in 2016 grew at 1% – the best annual growth since 2013. However, that silver-lining is akin to being the tallest midget as over the longer-term, US productivity growth has never been this low for this long.
- Fed Leaves Policy Rate Unchanged, Offers No Hint on When It Might Next Move
The Federal Reserve said Wednesday it remains on track to gradually raise short-term interest rates this year and gave no hint about when the next increase might come. Following a two-day policy meeting, officials voted unanimously to hold their benchmark rate steady in a range between 0.50% and 0.75%, while noting in a statement some recent improvements in the economy, including an uptick in consumer confidence. They lifted rates by a quarter percentage point in December and penciled in three quarter-point moves in 2017. Investors hadn’t expected the Fed to move Wednesday and were looking for a signal about its next meeting on March 14-15. Market reaction to the statement was muted.
- Gold Gains as Trump Shocks Markets by Doing What He Said He’d Do
President Donald Trump’s policies have brought gold back to life. Gold futures rose for a second day, posting the biggest monthly gain since June, on investor concern over moves by Trump that included barring entry by citizens from seven predominantly Muslim nations and firing the acting U.S. attorney general for refusing to enforce the order. The dollar headed for a third straight decline against a basket of 10 currencies, and U.S. stocks slid. Confusion over U.S trade and immigration policies has helped rekindle haven demand for gold, which in December capped its biggest quarterly decline in more than three years. Money is also flowing back to precious metals as speculation mounts that the Federal Reserve may be more cautious in raising U.S. interest rates amid concerns Trump’s policies could stifle economic growth. Protests from New York to Atlanta to Detroit were held Sunday.
- GOP Rebrands Obamacare Strategy From ‘Repeal’ to ‘Repair’
Some Republicans in Congress are starting to talk more about trying to “repair” Obamacare, rather than simply calling for “repeal and replace.” There’s good reason for that. The repair language was discussed by Republicans during their closed-door policy retreat in Philadelphia last week as a better way to brand their strategy. Some of that discussion flowed from views that Republicans may not be headed toward a total replacement, said one conservative House lawmaker who didn’t want to be identified. Using the word repair “captures exactly what the large majority of the American people want,” said Frank Luntz, a prominent Republican consultant and pollster who addressed GOP lawmakers at their retreat.
- ALERT: Former Soros Associate Just Warned We Are About To Witness ‘Absolute F*cking Chaos’ Across The Globe
Today a former associate of George Soros told King World News that we are about to witness “absolute f*cking chaos” across the globe in a little over two months. Victor Sperandeo oversees over $3 billion, has been in the business 45 years, and has worked with famous individuals such as Leon Cooperman and George Soros. Below is what Sperandeo had to say. Victor Sperandeo: “What people are underestimating is the upcoming election in the Netherlands on March 15. A month later France is going to hold their election…
- Mexican border wall could take just two years to build
The Mexican border wall could take just two years to build and parts could be “see through,” according to the new head of the Department of Homeland Security. “The wall will be built where it’s needed first, and then it will be filled in. That’s the way I look at it,” Secretary John Kelly told Fox News. “I really hope to have it done within the next two years,” the retired four-star Marine general added. Fox’s Catherine Herridge reported Thursday that Kelly told her that the wall won't all be solid and sections of it may be transparent.
- U.S. appeals court revives JPMorgan silver futures rigging lawsuits
A U.S. appeals court on Wednesday revived three private antitrust lawsuits accusing JPMorgan Chase & Co (JPM.N) of rigging a market for silver futures contracts traded on COMEX. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge held hedge fund manager Daniel Shak and two other traders to an excessively high legal standard when deciding last June 29 to dismiss their complaints. Shak, Mark Grumet and Thomas Wacker accused the largest U.S. bank of having in late 2010 and early 2011 placed artificial bids on the trading floor, harangued staff at metals market COMEX to obtain prices it wanted, and made misrepresentations to a committee that set settlement prices. The traders said this forced them to post more capital to support their positions in silver futures spreads, and ultimately to liquidate them at heavy losses.
- As Brazil Unemployment Hits Record High, Rio's Murder Rate Soars
With Brazil stuck in what may be its worst depression on record, it will surprise nobody that the homicide rate in Rio de Janeiro climbed by 20% in 2016 from the previous year, as violence soared in the Brazilian metropolis amid rising unemployment and sharp cuts in public security budgets. Worse even than Chicago, state security statistics released on Wednesday and cited by Reuters showed that 5,033 people were murdered in Rio during the year, up from 4,200 in 2015.
- Researchers: Fake News Did Not Alter Election Results
As social media sites like Facebook and Snapchat move to eliminate “fake news” reports from their sites, researchers from Stanford and New York Universities say Americans can be sure of one thing: the phenomenon did not affect the results of the presidential election. The new study released last month investigated the influence that fake news may have had on President Trump’s victory. NYU economics professor Hunt Allcott and Stanford economics professor Matthew Gentzkow led the research. The pair ran a series of tests to determine which fake news articles were circulated, how much of it was circulated, and the amount of voters that believed the stories to be true.
- The Central Banks Pull Back: Now It's Up To Fiscal Policy To “Save The World”
Another problem is the rise of social discord, for reasons that extend beyond the reach of tax reductions and increased infrastructure spending. Have you noticed that the breathless anticipation of the next central bank “save” has diminished? Remember when the financial media was in a tizzy of excitement, speculating on what new central bank expansion would send the global markets higher in paroxysms of risk-on joy? Those days are gone. Nowadays, central banks cautiously continue the bond buying programs they've had in place for years, but their policy initiatives are tepid at best: they talk about expanding asset-buying programs to include more stocks, or discuss notching interest rates higher in some cases; but the talk is subdued, as expectations are being consciously lowered.
- State Minimum Wage Hikes Already Passed Into Law Expected To Cost 2.6 Million Jobs, New Study Finds
Even though we know that Bernie and his alt-left compatriots will never tire of their endless “Fight for $15” no matter how much data we throw at them, we thought we would go ahead and highlight yet another economic study detailing the devastating job losses that will result from minimum wages hikes that have already been passed in states all around the country. The latest study comes for the American Action Forum (AAF) and estimates that 2.6 million jobs will be lost around the country over the next several years as states phase-in minimum wage hikes that have already been passed.
- BOOM! Companies That Openly Criticized Trump For “Making America Safe Again” Take Stock Market Hit
The Dow Jones industrial average fell around 120 points after sliding more than 223.39 points, dropping below 20,000, with Goldman Sachs contributing the most losses. Most of the companies who criticized Trump’s temporary travel ban on the 7 nations Obama’s DHS identified as terror hotbed nations lost money in the stock market today. Apparently keeping our country safe takes a back seat to these companies, unless of course, we see another major terror attack in America by an unvetted refugee, then they’ll all be lining up behind Trump and complaining he didn’t do enough…
- Trump pledges to end political limits on churches
Declaring that religious freedom is “under threat,” President Donald Trump vowed Thursday to repeal a rarely enforced IRS rule that says pastors who endorse candidates from the pulpit risk losing their tax-exempt status. “I will get rid of and totally destroy the Johnson Amendment and allow our representatives of faith to speak freely and without fear of retribution,” Trump said at the National Prayer Breakfast, a high-profile event bringing together faith leaders, politicians and dignitaries. Trump's pledge was a nod to his evangelical Christian supporters, who helped power his White House win. So far he has not detailed his plans for doing away with the rule, which he has previously promised to rescind. Named after then-Sen. Lyndon Johnson, the regulation has been in place since 1954 for tax-exempt charities, including churches, though it is very rare for a church to actually be penalized.
- Pastor Lindsey Williams introduces Pastor David Bowen – February 2, 2017
Pastor Lindsey Williams introduces Pastor David Bowen with his regular short weekly video for readers of Pastor Williams’ weekly newsletter.