Venezuela officially declared default, no we will have to wait to see what happens next. UK retail is imploding, inflation is spiking and people are being laid off, it is a disaster. 38,000 gold contracts were dumped on the precious metals market. Consumer confidence index unexpectedly declined. Banks are now tightening subprime loans which means this is going to be a disaster for the auto industry. The cabal is still trying to keep the TPP afloat with 11 countries agreeing to terms. Are the rich and the elite panicking because they are hiding money hiring guards. Podesta groups CEO has resigned, not a good sign. US imposes sanctions on 10 individuals in Venezuela. Duterte meets Putin thanks him for helping with the IS in his country. White House denies reports that they are providing Ukraine with weapons. Deep state was trying to make sure that Putin and Trump did not meet, but they met despite the pressure not to meet. The Cabal is setting the stage for push war with Iran, this will most likely not happen. Tillerson speaks out and tries to calm down the Iran war propaganda. US and Russia trying to make a deal in Syria. The Cabal is pushing every agenda, time is running out.
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Current News – 11.10.2017
- Wilmington Trust, the Trustee of the 8.5% bonds due 2018, issued by Corpoelec, Venezuela’s electricity company, declared that the missed interest payment originally due October 10, and whose 30 day grace period expired on November 9, and for which no pament was sent or received, officially constitutes an event of default.
- The writing was on the wall two weeks ago when retail employment tumbled along with CBI-reported retail sales, but tonight’s BDO High Street Sales Tracker should be the icing on the cake for any looming rate hike as like-for-like sales crashed 5.2% – describe by BDO as “the most horrific” October on record.
- It was the worst month since right before Brexit in April 2016.
- Consumers resisted spending in October following the rise of the Consumer Price Index (CPI) to 3% in September. Recent confidence barometers have also suggested a creeping decline in economic and spending confidence amongst consumers.
- As wage increases continue to be outstripped by higher inflation, and with the (now real) anticipation of higher mortgage payments,then it comes as little surprise that people are tightening their belts prior to the anticipated Christmas expenditure.
- Fashion sales plunged 7.9% YoY and were the wost segment, but retailers aren’t alone; restaurant, pub and bar groups “also feeling the pinch” in recent weeks.
- the British Retail Consortium reported that retail employment dropped at the fastest rate since 2008.
“The pace of job reductions in the retail industry is gathering steam,”
- $4,966,400,000 worth of paper gold hit the markets between 11:08 a.m. EST and 11:16 a.m. EST. BOHICA – There’s a bear flag forming…
- First, here’s just how steep the drop was:
- UMich consumer sentiment declined from 100.7 to 97.8 in the preliminary November print, disappointing expectations of a small rise as anticipation of a pickup in inflation and higher interest rates weighed on the gauge.
- Banks have started to tighten lending standards for prime and subprime borrowers, and it shows.
- Banks are further tightening their lending standards for prime and subprime auto loans. This process started in Q2 2016, when auto lending had reached the apogee of loosey-goosey underwriting that had boosted sales of new and used vehicles to record levels and had ballooned auto loan-balances outstanding to the $1-trillion mark. It also boosted risks for lenders. Inevitably, subprime auto loans started running into trouble in 2016, and it was time to not throw the last trace of prudence into the wind entirely.
- That banks are tightening their auto-lending standards ever so gradually is another headwind the auto industry is facing.
- Too much auto debt
- Too much “negative equity” in vehicles after years of loosey-goosey lending, which makes trading difficult
- New vehicle prices that have moved out of reach
- And incomes that have been stagnating for a large part of the population.
- 11 member nations say they have found enough common ground on “core elements” to move toward a final agreement.
- Canada is bragging that the other nations have agreed with Canadian Prime Minister Justin Trudeau’s demands that the renegotiated treaty include references to fighting climate change and recognizing labor rights.
- Trudeau was a no-show at a Friday meeting with other TPP leaders. Representatives from the 11 countries are still at work on a final agreement in principle.
- The trade deal has to be renegotiated due to the departure in January of the United States.
- European elites are hoarding cash, the Japanese are stuffing safes full of high-denomination bills, the saudis are scrambling, and judging from the following chart, the richest Americans are getting increasingly concerned about the safety of their wealth…
- Demand for security services has soared driving wages up a stunning 24% YoY!
- What are America’s 1%-ers worried about? (the answer is simple… the rest of us)
- Less than two weeks after John Podesta’s brother, Tony, quit as head of the prominent Democratic lobbying group, the Podesta Group just days after it was revealed that Special Prosecutor Robert Mueller was investigating Podesta . Podesta Group longtime CEO, Kimberley Fritts, is leaving the firm
- the US Department of Treasury has imposed sanctions against ten Venezuelan officials, including a member of the recently elected Constituent Assembly, several electoral officials, and a diplomat.US sanctions are also targeting three members of the National Electoral Council:Washington has refused to recognize Venezuela’s elections . The US has accused Venezuelan President Nicholas Maduro of “dictatorship” and called for the end of his “illegitimate rule.”
- Earlier US media reported that Washington decided to supply weapons to Ukraine
- A White House official strongly rejected an earlier US media report that Washington has made a decision to start supplying Ukraine with weapons.
- Philippines President Rodrigo Duterte has met with Russian President Vladimir Putin on the sidelines of the Asia-Pacific Economic Cooperation (APEC) conference in Vietnam.
- During a brief statement before the press, Duterte expressed his gratitude to Russia for delivering free shipments of arms to the country.
- Duterte stated that he seeks to build a strong armed forces and police as part of his extended legacy to the nation and that Philippines looks increasingly to Russia to purchase modern weapons in order to assure the domestic peace against both terrorists and drug lords.
- Donald Trump and Vladimir Putin are in the same country for the first time since their meeting in Germany at the 2017 G20 summit. Both Presidents are currently in Da Nang,
- While officials cited “scheduling conflicts” that dashed hopes of a bilateral meeting between President Trump and President Putin on the sidelines of the APEC summit, the two ‘old friends’ came face-to-face during the photo-op at the start of the conference… and the handshake took place…
- The two were all smiles while shaking hands during the photo call…
- –Putin had already taken his spot when Trump approached him, extending his hand. I
- One day after Saudi Arabia and Kuwait ordered their citizens to evacuate Lebanon – a move many suggested telegraphed an imminent “military intervention” –
- For that, it got help from the US Air Force today, and as AP reports this morning, “the ballistic missile fired by Yemeni rebels that targeted the Saudi capital was from Iran and bore “Iranian markings,” t
- after the Nov. 4 strike near Riyadh, Saudi Arabia’s Foreign Ministry said investigators examining the remains of the rocket found evidence proving “the role of Iranian regime in manufacturing them.” It did not elaborate what, though it also mentioned it found similar evidence after a July 22 missile launch. French President Emmanuel Macron similarly this week described the missile as “obviously” Iranian.
- FRENCH President Emmanuel Macron held hastily scheduled talks in Riyadh with Saudi Crown Prince Mohammed bin Salman amid rising tensions between Saudi Arabia and Iran, notably over Lebanon and Yemen.
- U.S. Secretary of State Rex Tillerson on Friday warned other countries and groups against using Lebanon as vehicle for a larger proxy fight in the Middle East, saying the United States strongly backed Lebanon’s independence.
- Tillerson said he recognized Saad al-Hariri as Lebanon’s prime minister and called him a “strong partner of the United States.”
- Russia and the United States are close to reaching a final agreement on the conflict in Syria, t
- The report added that the expected agreement “also seeks to build on progress in establishing “de-escalation zones” in Syria that have calmed some parts of the country.”