Housing bubble 1.0 was created by the FED which ended in a disaster. Housing bubble 2.0 has been created by the FED and its in the exact same cities. This is going to end in a disaster when the entire system comes down. Lenders are having a tough time making loans, profits are down and financial institutions are in trouble. China wants India to join the OBOR system for trade. The CBO has reported by removing the tax penalty the government would save millions, the people would then be able to breath a sigh of relief. The entire Russian collusion is back-flashing on the cabal, layer by layer the cabal is being exposed to the world. A new survey was conducted and 82% of the people says its tough to ban hate speech. The EU joins the US in pushing sanctions on Venezuela. Ukraine cancels arms agreement with Russia. The UN warns of chlorine gas leaks that could injure thousands in Ukraine. Russia is boosting trade with Japan. The UN chemical weapons report is out and it doesn’t hold water, Russia is ripping it apart. The US is warning children not to look at the school websites because they were hacked by the IS.
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Current News – 11.08.2017
- My analysis below highlights how out of scope house prices are from end-user, shelter-buyer, employment & income fundamentals in the most economically important cities.
- This massive divergence has been driven largely from the things present in all bubbles; unorthodox capital, credit & liquidity driving speculation.
- Like Bubble 1.0, house prices in the most lofty regions have been driven for years by “non-end-users” SPECULATING on rentals, second/vaca homes, and flipping – riding a wave of cheap & easy credit, liquidity & leverage – believing prices always go up.
- With between 40% & 50% of buyers putting less than 10% down for years – and because it takes at least 10% equity to sell & rebuy – it doesn’t take much downside to swamp the nation in “effective negative equity” once again.
- ITEM 1) INCOME INCREASE NEEDED TO BUY THE MEDIAN PRICED HOUSE IN KEY CITIES.
- Bottom Line: most of the most economically important US cities are experiencing “BUBBLE-LIKE” conditions again.
- ITEM 3) THE MOST BUBBLY REGIONS IN THIS CYCLE ARE IDENTICAL TO BUBBLE 1.0
- Further, these are the exact regions that were the most bubbliscious in Bubble. 1.0. Yet, most think “it’s different this time”.
- Despite record high stocks, record high consumer confidence, and ‘full’ employment, LendingClub is struggling to originate high-enough quality loans – crashing almost 20% after slashing its Q4 outlook.
MORGAN STANLEY (James Faucette)
- 3Q shows “credit box setback,” with origination growth hurt as LC tightens credit, re-calibrates marketing with launch of 5th gen credit model
- China on Wednesday counselled India to shed its objections to the China Pakistan Economic Corridor (CPEC) and take advantage of the Belt and Road Initiative (BRI),
- China’s openness to India’s participation, Ms. Hua said: “We remain quite open and inclusive to cooperation involving the BRI.”
- the CBO calculated that repealing ObamaCare’s individual mandate – an idea that had been floated previously by Trump – would save $338 billion over 10 years. CBO previously estimated repeal would save $416b over 10 years due to reduced use of Obamacare subsidies, demonstrating once again how “fluid” government forecasts are.
- Earlier this summer we were all led to believe that the now-infamous meeting between Donald Trump Jr. and Russian lawyer Natalia Veselnitskaya was undeniable evidence that the Trump campaign had colluded with the Russian government to effectively stage a coup by preemptively blocking Hillary from her rightful throne. But, what if it was all just a setup?
- According to a report hours before Natalia Veselnitskaya sat down with Trump Jr., Paul Manfort and Jared Kushner at Trump Tower on June 9, 2016, she was with Fusion GPS co-founder and former Wall Street Journal reporter Glenn Simpson in a Federal Manhattan courtroom. the pair were together shortly after the Trump Jr. meeting as well.
- Of course, this is an intriguing new development because just a couple of months prior to these events, Fusion GPS was paid at least $1 million by Hillary’s campaign and the DNC to ‘prove’ that Trump was working with the Russians. All of which begs the obvious question, was the whole Trump Jr. fiasco nothing more than a failed attempt at political sabotage by the Hillary campaign?
- not only were Simpson and Veselnitskaya together before the Trump Jr. meeting, as it turns out Fusion GPS was hired by BakerHostetler to represent Russian firm Prevezon in an asset forfeiture case, a firm which Veselnitskaya also represented and was the reason that she was in the U.S. in the first place. To summarize, Fusion GPS and Veselnitskaya were effectively co-workers defending a Putin-linked Russian operative on trial in the U.S. for a massive $230 million money laundering fraud.
- An overwhelming majority (82%) of Americans agree that “it would be hard to ban hate speech because people can’t agree what speech is hateful,” the Cato 2017 Free Speech and Tolerance Survey finds. Seventeen percent (17%) disagree. Majorities across partisan and demographic groups alike agree that hate speech is hard to define and thus may be hard to regulate.
- How Do Americans Define Hate Speech?
- When presented with specific statements and ideas, Americans can’t agree on what speech is hateful, offensive, or simply a political opinion
- Besides slurs and biological racism, Americans are strikingly at odds over what speech and ideas constitute hate. For instance, a majority of Democrats (52%) believe saying that transgender people have a mental disorder is hate speech. Only 17% of Republicans agree. On the other hand, 42% of Republicans believe it’s hateful to say that the police are racist, while only 19% of Democrats agree.
- The European Union is set to impose an arms embargo on Venezuela and will consider further sanctions in response to the political crisis in the South American country, two EU diplomats said.
- The measures will bring the EU more into line with the United States, which imposed sanctions earlier this year, and they signal a change of tone in Brussels, which had previously resisted taking a tougher approach toward Caracas.
- “The steps were approved today, paving the way for approval (by the bloc’s foreign ministers) next Monday,” an EU diplomat said, adding that the ministers’ backing was a formality.
- US Defense Secretary Jim Mattis arrives at NATO’s Brussels headquarters Wednesday for two days of talks with fellow defense ministers. A separate meeting is also planned with partners from the coalition fighting Islamic State (IS, formerly ISIS/ISIL) in the Middle East, where the jihadists continue to lose territory. that coalition partners are looking to the US for a clear plan about what follows the physical defeat of IS. “
- Trade between Russia and Japan has surged 17 percent in the first eight months of the year, according to Russian Economic Development Minister Maksim Oreshkin.
- “There are economic indicators that demonstrate that Russian-Japanese relations are developing in a positive direction. The beginning of the year, maybe was not so good, but in the eight months, according to our data, the growth in trade turnover is 17 percent,”
- Moscow has also suggested building a road and rail bridge from Russia’s Sakhalin to Hokkaido, linking Japan with the continent.
- Ukraine’s Cabinet adopted a decree on Wednesday, canceling an agreement with Russia for the supply of weapons and military equipment.
- The deal regarding the mutual supply of arms and military equipment, components and spare parts, and the provision of repairs and other military services was signed Feb. 8, 1995.
- The Ukrainian government in August had canceled an agreement with Moscow establishing interaction in the export of military goods to third countries.
- Shipment of military goods to Russia has been suspended since March 2014 following Russia’s annexation of Crimea after an illegal independence vote. Three months later, President Petro Poroshenko fully prohibited military cooperation with Russia.
- : The United Nations on Wednesday raised alarm that an escalation of fighting in east Ukraine could lead to a deadly chlorine gas disaster.Fighting between pro-Russian separatist fighters and Ukrainian troops has intensified near water, electricity and gas stations, threatening supplies in the Donetsk region as winter approaches.Two water filter stations on both sides of the frontline dividing eastern Ukraine have been shelled over recent days.”The UN is also extremely concerned about the possible release of hazardous chlorine gas stored at both filter stations.If a single 900-kilogramme gas container is hit, anyone within 200 meters might receive fatal dose of the poisonous gas,” said the UN resident coordinator Neal Walker in a statement.Some 1.1 million Ukrainians could be deprived of clean water as a result of the fighting, he said.
More than 10,000 people have been killed in the conflict in east Ukraine that broke out in April 2014.
- The war in Yemen is not over, but this could be a sign of Saudi war fatigue.
- News has broke that the Saudi Navy has ended its blockade of the Port of Aden in the former Southern Yemen.
- The blockade which has lasted nearly two years has deprived Yemen of much needed supplies with even UN vessels having a difficult time transporting humanitarian aid to the war torn nation that has seen a man made famine and outbreak of cholera as a result of the blockade.
- While the direct motivation for Saudi lifting the blockade on Aden isn’t entirely clear, there are clear deductions which can logically be made. The following must be immediately considered.
- 4. A geo-political decoy
- the move could be a decoy designed to send an insincere message to the wider world that the conflict is winding down, when in reality, Saudi will continue to bombard Houthi controlled areas knowing that Aden is now safely secured from its perspective.
- According to a Syrian brigadier general, tactics the terrorists used was to deploy so-called inghimasi units, groups of militants that try to inflict as much damage as possible with firearms and only detonate their suicide vests when overwhelmed.
- “If [the inghimasi] manage to establish control over the territory, then larger groups follow. Suicide vests were found on the majority of the dead militants,” the general told Sputnik.
- According to him, the army managed to intercept the terrorists’ radio traffic, pointing out that the militants spoke not only Arabic, but also other languages, as well as dialects of Iraq, Tunisia and Saudi Arabia.
- The OPCW-UN investigation into the chemical attack in Syria’s Idlib province is littered with “systemic deficiencies,” Russia’s deputy UN envoy has told the UN Security Council, reiterating that Moscow maintains the April 4 incident was staged.On October 26, the OPCW-UN Joint Investigative Mechanism (JIM) issued a report in which it pinned blame for the Khan Shaykhun incident on Damascus. With JIM’s mandate set to expire on November 16, Russia criticized the methodology of the UN fact-finding mission, casting doubt on the mandate’s extension.”
Comment: As usual, the US pathetic ambassadors to the UN do not argue with reason and evidence, but with emotions.Nikki, nobody is saying that it’s ok to kill women and childen with chemical weapons. But evidence and logic show that Syria is simply not to blame. If you want to point fingers at those responsible for genocide, point them elsewhere – like the ‘moderate’ terrorists in Syria that the US and the CIA so much love.
Safronkov also questioned some of the visual evidence referenced in the UN report, noting that the White Helmets apparently knew about the attack even before the Syrian airplane left the Shayrat Airbase. The White Helmets video at the site of the incident shows them wearing respirators and cotton gloves which cannot serve as protective gear against sarin exposure. Thus it is likely that “first an explosion was conducted, then the White Helmets made this video, and only afterward did they drop sarin,” the Russian representative pointed out.
- The report on the chemical attack in Idlib in Syria has some very shaky conclusions, says journalist Rick Sterling, of the Syria Solidarity Movement. In his view, it’s obvious the opposition, not the government that had a motive for such an attack.
- Daesh hackers have reportedly attacked 800 school websites in the US to show users pictures of Saddam Hussein with the text “I love Daesh.”
- The FBI is investigating a computer attack allegedly carried out by the Daesh terrorist group (banned in Russia) on Monday that penetrated 800 school websites throughout the United States and redirected users to online Islamist propaganda, according to a report by the Clarion Project.
- “The hack lasted close to two hours, during which time visitors to the sites were redirected to a YouTube video with Arabic audio and pictures of Saddam Hussein,” the report reads, adding “Text also appeared which read, ‘I love Islamic State [Daesh].'”