Global Trade, Corporate Revenue Collapses, The Economic Collapse Deepens – Episode 796

Layoffs Start Today

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The September jobs reports was much worse than the US Government reported. Housing market bubble starting to pop, housing permits take a plunge. Tech bubble is ready to pop, valuations high, no revenue. IBM’s revenue has been negative since the beginning of 2012. Global trade is collapsing and the economy is slipping further into a deepening collapse. Russia’s plan is to default if US sanction pressure is pushed harder, the default would destroy the private western countries. Obama cannot appeal the ruling by Judge about the subsidies for Obamacare. Obama pushing illegals into public schools so they can take out student loans to blow up the bubble. NYPD uses an X-ray van to look into cars and buildings. US and Russia sign air safety agreement. Libya peace deal collapses and the US is preparing a mission to take the country back. As Russia strikes the IS in Syria paid mercenaries are entering the country by the thousands and are helping the IS fight against Assad’s armies. US gives Assad a strategy to step down, meanwhile Russia says Assad is not stepping down.

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Current News – 10.20.2015


Economy

The September Jobs Report Was Even Worse: U.S. States Lost A Total Of 22,000 Jobs

  • Remember that September jobs report when the US supposedly only added 142,000 jobs, which was so bad it sent stocks soaring the most in years?
  • today’s BLS breakdown of jobs by state, not only did more than half, or 28, states lose jobs in September, but the total number of jobs losses, at 120,000, was about 20% more than the cumulative job gains of 99,000.
  • Also not making any sense, is the state with the most purported job gains, because while firing tens of thousands of oil patch workers, Texas mysteriously – according to the BLS – added 26,600 jobs. The gains occurred in a range of industries, including retail, shipping, education, health care, and hotels and restaurants. Or even more low-paying jobs used a “plug” filler by the BLS to offset the real collapse of America’s high-paying manufacturing jobs. New York added the second-most, with 12,000, which is also curious considering all banks but Goldman reported they have continued to layoff tens of thousands of workers.

 

Source: zerohedge.com

Update: Harley Davidson – 250
Frank’s International. – 100

Housing Permits Plunge To 7-Month Lows Despite Decade-High Homebuilder Sentiment

  • Building Permits remains well off the June pre-reg change spike highs. Despite soaring homebuilder sentiment, permits plunged – the lowest in 7 months – thanks to a collapse in multi-family permits to the lowest since 2014.

Source: zerohedge.com

Tech Bubble Pops: Dropbox Warned It Can’t IPO At Its “Private Valuation”

  • the second tech bubble, one which has seen nearly 200 tech “unicorns” rising out of the ZIRP ashes in the past few years and promptly attaining valuations of over $1 billion, is bursting.
  • Take IPO-hopeful Dropbox.com. Back in January 2014, TechCrunch wrote the following when the company was revealed to have just hit its $10 billion valuation round:
  • Dropbox has raised a massive $250 million funding round, valuing the company at $10 billion .
  • This is actually the second time that Dropbox has raised $250 million: It did so in 2011
    The company is valued at 10 billion with no profits in two months: what could possibly go wrong?

Source: zerohedge.com

IBM Reports Terrible Q3 Earnings: Worst Revenue Since 2002; Slashes Guidance

  • IBM’s revenues of $19.3 billion, which missed expectations by a whopping $300 million, were down a massive 13.9% from a year ago, worse than the 13.3% plunge recorded in the Lehman quarter...

 

Source: zerohedge.com

Global Trade Is Collapsing As The Worldwide Economic Recession Deepens

  • When the global economy is doing well, the amount of stuff that is imported and exported around the world goes up, and when the global economy is in recession, the amount of stuff that is imported and exported around the world goes down. HSBC has reported that total global trade is down 8.4 percent so far in 2015, and global GDP expressed in U.S. dollars is down 3.4 percent.  The only other times global trade has plummeted this much has been during other global recessions, and it appears that this new downturn is only just beginning.
  • September is in the early phase of the make-or-break holiday shipping season. Shipments usually increase from August to September.

 the index was down 1.5% from an already lousy September last year, when shipments had fallen from the prior month, instead of rising. And so, in terms of the number of shipments, it was the worst September since 2010.

It has been crummy all year: With the exception of January and February, the shipping volume has been lower year-over-year every month!

  • What major retailers such as Wal-Mart are reporting also confirms that we are in a major economic slowdown.  Wal-Mart recently announced that its earningswould fall by as much as 12 percent during the next fiscal year, and that caused Wal-Mart stock to drop by the most in 27 years.
  • the number of job openings in the U.S. is falling and that the number of layoffs is rising…

Job openings fell 5.3 percent in August, while a 2.6 percent rise in layoffs and discharges offset a 0.3 percent gain in hires.

  • Challenger Gray is reporting that we are seeing layoffs at major firms at a level that we have not witnessed since 2009

Source: zerohedge.com

Collapse Of The Western Financial System Looms As A “Strategic” Russian Default Is Possible

  • Sergey Glazyev’s plan for Russia’s immediate economic future .The plan was formally proposed to Russia’s Security Council.
  • If the emerging trend of freezing private assets of Russian legal entities and individuals continues, Russia should consider full or a partial moratorium on the servicing of loans and investment from the countries involved in the freezing.
    The amount of foreign currency assets of the Russian Federation located in the jurisdiction of NATO countries accounts to more than $1.2 trillion, including short-term debt of about $800 billion. Their freeze may be partially offset by retaliation against NATO assets in Russia, which amounts to $1.1 trillion, including over $400 billion long-term. So this threat would be neutralized if Russian monetary authorities organized a timely withdrawal of Russian short-term assets in the US and the EU.  Glazyev proposes, essentially, is that Moscow must gain total control of its Central Bank, preventing speculators to move their credit around for non-productive purposes; Moscow should also establish currency controls; and must create a central organization of technological research to replace the loss of Western technology, imitating the US methodology of rolling out from its centralized military research those technologies that can be commercialized for the consumer market.
  • The fact is Russia has lost access to Western credit and cannot roll over its debt with the creditors. So Russia will have to pay the principle and the interest as it comes due. That is a trillion dollars plus interest. Russia also cannot import anything from the West without paying double for it. So arguably the country may be now in the very position it will be if Moscow opts for default. Thus, Russia would have nothing to lose by a default – as the damage is already done.
  •  a Russian default on a $1 trillion-plus debt to private Western parties remains a possible scenario discussed at the highest level – assuming Washington will persist in its anti-Russia demonization campaign.
  • Needless to add, such a default, if it ever happened, would collapse the entire Western financial system.

Source: zerohedge.com


Rights

White House DENIED: Judge Clears The Way For Obamacare Lawsuit To Proceed

  • Federal Judge Rosemary Collyer rejected the administration’s request for a quick appeal of her ruling, reinforcing her earlier decision and clearing the path for the suit to move forward,
  • “It’s another important step toward holding the president accountable for his unconstitutional actions,” House Speaker John Boehner
  • The suit centers on more than $150 billion in federal health insurance subsidies provided by Obamacare to low-income enrollees to reduce their payments. The House argues the subsidies are illegal, because Congress never appropriated the funds, but the administration argues its drawing the funds from an appropriate pool of already authorized funds.

Source: dailycaller.com

Obama moves to mainstream illegal immigrant students

  • The Obama administration is moving to push illegal immigrant students to enroll in high school and college, announcing a list of rights Tuesday they said illegal immigrants are entitled to, and offering tips on how the students can apply for scholarships or financial aid.
  • It’s the latest step in President Obama’s push to try to mainstream illegal immigrants as much as possible, despite laws that still outlaw their presence in the country. In a new 63-page handbook, the Education Department urged schools to create support groups for illegal immigrant students and their families, warned against asking students’ legal status

Source: washingtontimes.com

X-ray vans: NYPD still shielding details of military-grade surveillance tech

  • The New York City Police Department has refused a court order for ten months to release records on its vans ‒  The NYPD was sued over the surveillance tool three years ago.
  • The New York Civil Liberties Union (NYCLU) and the Brennan Center for Justice have called on an appellate court to enforce a lower court’s decision that the NYPD must provide information on its unmarked Z Backscatter vans, also known as X-ray vans.“How is the NYPD ensuring that innocent New Yorkers are not subject to harmful x-ray radiation?
  • “How long is the NYPD keeping the images that it takes and who can look at them? Is the NYPD obtaining judicial authorization prior to taking images, and if so, what type of authorization? Is the technology funded by taxpayer money, and has the use of the vans justified the price tag?”
  • The Z Backscatter vans were first used to detect roadside bombs in Afghanistan. Each unit costs the NYPD between $759,000 and $825,000, according to the NYCLU. The vans enable police to look through the walls of buildings and inside trucks.
  • For three years, the NYPD has refused to answer a New York Freedom of Information Law request registered by ProPublica, which asked for police reports, training materials, contracts and any health and safety tests related to the surveillance vans.

Source: rt.com

CIA Chief’s AOL E-Mail Account Hacked By 13-Year Old

  •  Pro-Palestine, teen hacker from the group “Crackas With Attitude” claims to have breached CIA director John Brennan’s e-mail account.
  •   teenage hacker claims to have hacked the AOL email account of CIA Director John Brennan.

The hacker in question, who goes by the moniker “cracka,” is a member of the hacker collective “Crackas With Attitude,” which appears to include at least one other member, who calls himself “cubed.”

Source: zerohedge.com


War

Poroshenko Puts the Squeeze on Media, Threatens TV Channel

  • A Ukrainian television channel has published a statement by its former producer, claiming officials from President Petro Poroshenko’s administration banned the channel from broadcasting footage of a handshake the Ukrainian leader exchanged with his Russian counterpart Vladimir Putin at a recent meeting.
  • The handshake took place at the start of a meeting in Paris on Oct. 2, but when television channel 112 Ukraina was preparing a report about the gathering, it received a “barrage of calls” from the presidential administration and security services “about the unacceptability of showing the handshake on the air,
  • “So, Poroshenko shook Putin’s hand, but did not want Ukrainians to known about it,

Source: russia-insider.com

US deploys ground-attack A-10 aircraft to Turkey

  • The United States has deployed a number of attack aircraft to an airbase in southern Turkey, a US military official says.
  • 12 A-10 ground-attack planes arrived at Incirlik over the weekend.
  • They have already been scheduled to help the US-led coalition fighting against Daesh (ISIL) terrorists in Iraq and Syria, the official added.
  • A-10 is a tactical military aircraft that has a primary role of carrying out airstrikes with greater precision than bombers.

Source: presstv.ir

US Approves Potential $11.25Bln Combatant Ships Sale to Saudi Arabia

  • The US Department of State has approved a potential $11.25 billion sale of four Multi-Mission Surface Combatant Ships (MMSC) and associated equipment to Saudi Arabia,
  • US defense and security company Lockheed Martin has been building the MMSC ships under the US Navy’s littoral shipbuilding program. The ships are capable of conducting anti-air, mine countermeasures, anti-surface, anti-submarine, and electronic warfare tasks.

Source: sputniknews.com

Warplanes bomb ISIS-controlled camps in Libyan city of Sirte: witness

  • Warplanes carried out airstrikes on the Libyan city of Sirte targeting areas controlled by fighters loyal to ISIS, a witness in the city said Tuesday.

Source: dailystar.com.lb

Russia, US sign cooperation deal on Syria airstrikes

  • Russia and the US have signed an agreement regulating the operations of the two countries’ air forces in Syria. The deal is aimed at preventing incidents and providing for the smooth operation of the two nations’ aircraft, and for mutual aid in critical situations.
  • The agreement, whose full name is “The Memorandum of Mutual Understanding between the Defense Ministries of Russia and the United States on preventing incidents and providing for aviation flights during operations in Syria
  • The document “has important practical value. It regulates the actions of manned and unmanned aircraft in the airspace above Syria. The Memorandum contains a set of rules and limitations aimed at preventing incidents between the air forces of Russia and the US,” 

Source: rt.com

General In Charge Of “Total Failure” Syrian “Train And Equip” Program Gets Promotion

  •  Maj. Gen. Michael K. Nagata who, because he was commander of American Special Operations forces in the Middle East, was ultimately responsible for the“total failure of the training of the FSA”, is now set to be rewarded and promoted.
 The Army general in charge of the Pentagon’s failed $500 million program to train and equip Syrian rebels is leaving his job in the next few weeks, but is likely to be promoted and assigned a senior counterterrorism position here, American officials said on Monday.

Source: zerohedge.com

US Lt. General Stunned: Russians Can Move Military Forces ‘Very Quickly’

  • “The ability [of Russians] to move a lot of forces very quickly is the thing that worries me the most about what they can do. The lack of indicators and warning that we have and their ability to move a lot of stuff real fast – that’s not a good combination,” Lt. Gen. Ben Hodges
  •  According to the US general, Moscow is quite capable of denying access to the Baltic Sea and the Black Sea if it wants to.
  • “Then they have the ability to create sort of a bubble over a quarter of the Mediterranean with the air defense systems that they have put into Syria,

Source: sputniknews.com

KALIBRating the foe: strategic implications of the Russian cruise missiles’ launch

  • Last week the biggest event that took place in Syria  was the use by the Russian Navy’s Caspian Flotilla of 26 seaborne land-attack cruise missiles (LACMs) that hit 11 targets inside Syria, which were located about 1,500 km. away
  • What are the military and political implications of the launch?
  • This was the first time that Russia’s armed forces had deployed this type of weapon in an actual combat situation not during exercises – at targets that were so far away. The second important point is that every one of the 26 missiles that were launched struck their intended targets, none deviated from their previously calculated trajectory, not one experienced a technical glitch, and none fell to earth while still on its approach to the object of the attack.  They have a hugely demoralizing effect on the enemy, because even if the moment of launch is detected, he can not even predict in what geographic area they will hit.
  • Now that the Russian armed forces have debuted such high-precision weaponry, the Pentagon can stop throwing away its money trying to build up its military options that are aimed squarely at Russia. In other words, there is no need to spend significant amounts to station American tactical nuclear weapons in Europe or to deploy its land- and sea-based antiballistic infrastructure in Romania and Poland – or in the Asia-Pacific region – since it is perfectly clear that from now on all of that will stay in the cross-hairs of not only Russian LACMs, but quite soon of some even more effective hypersonic, high-precision long-range weapons equipped with non-nuclear warheads.

Source: orientalreview.org

Russian Embassy in Damascus Denies Report of Russians Being Killed in Syria

  • Earlier, Reuters reported that at least three Russian nationals had been killed and several more wounded when a shell hit their position in the coastal province of Latakia.
  • An embassy spokesperson dismissed recent media reports that three Russian citizen were killed in Syria.
  • “There is no information about the alleged deaths of three Russians or three Russian servicemen in Syria, we have no information on what was reported by Reuters,”  adding that this resembles another piece of disinformation.

Source: sputniknews.com

Free Syrian Army Fighters Look Like Terrorists – Minister

‘Assad doesn’t have to leave tomorrow, can be part of transitional process’ – US State Department

  • Syrian President Bashar Assad “does not have to leave tomorrow or the next day,” the US State Department has stated. Washington allows that Assad may take part in transitional process, but can’t be part of Syria’s next government.
  • Washington has been insisting that Syria’s president must be replaced with a new leader and an inclusive government for years,
  • “ this isn’t the US dictating this. This is the feeling of many governments around the world, and frankly, the majority of the Syrian people,” Toner said.
  • When asked to clarify “how long” the State Department thinks the transition process could take, Toner failed to give an exact time period.
  • “I can’t put a timeframe on it. I can’t say two weeks, two months, six months,” he said, adding that the US is looking for “a political resolution to the conflict.”
  • Russia regards Assad as the only legitimate power in Syria and insists that only the Syrian people have the right to determine their country’s future

Source: rt.com

Russia “Confirms” It Has Plans To Restore Assad Government In Syria 

  • Moscow’s position is simple. The Russians are in Syria to restore Assad which means waging war on his enemies and because some of his enemies are terrorists, that means Russia is at war with terror. Putin has made no secret of this,

Source: zerohedge.com

McCain Calls on US to Provide Stingers Missiles to Syrian Rebels

  • Media reported earlier in October that Syrian rebels asked Washington for Stinger missiles to use them against Russia’s military jets.
  • “Absolutely… Absolutely I would,” McCain said when asked whether he would support the delivery of Stinger missiles to the opposition in Syria.

Source: sputniknews.com

Syrian intelligence reports influx of mercenaries into terrorist ranks

  • A huge number of foreign mercenaries is arriving in the Syrian province of Idlib to fight the government troops on the side of the militants, the Russian Defense Ministry reported
  • At the same time, the Russian Armed Forces General Staff said that the terrorists defending the town of al-Shaykh Maskin in Deraa province were short of ammunitions and personnel.

Source: veteranstoday.com


False Flags

Turkey names Ankara suicide bomber and alleges ISIL link

  • Turkish authorities have used DNA to identify one of two people they suspect were the suicide bombers
  • DNA tests were conducted intensively. And according to those findings the identity of one of the bombers was confirmed.
  • There are reports that he had joined an armed terrorist organisation, possibly ISIL.

Source: euronews.com

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