Student loan defaults are on the rise. The student population is having a difficult time finding work and the government hides the fact that they altered the payback schedule to minimize the fact that people cannot pay them back. Home buyer confidence is falling. UBS recognizes housing bubbles in many cities around the world. If the economy is recovering why are we seeing hard data decline 6 times in a row. S&P lowered Deutsche Banks credit rating, it doesn’t see revenue getting any better. US is asking people to leave Cuba because of a sonic boom. The Spanish government is trying to stop the Catalonian referendum. South Korea wants to take control of its military, which means the US would not control it anymore. Turkey makes payment of the S-400 missile system. Baghdadi returns with a message to the world. The entire global air reservation system went down, is the Cabal testing a preparing to bring the entire financial network to its knees.
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Current News – 09.29.2017
- Americans’ confidence in the economy has waned slightly
- the share of consumers expecting good times financially in the economy fell to 47 percent from 54 percent in August.
- Share of consumers judging home-buying conditions as favorable was at five-year low…
- Two years ago, when UBS looked at the world’s most expensive housing markets, it found that London and Hong Kong were the only two areas exposed to bubble risk.
- What a difference just a couple of years makes, because in the latest report by UBS wealth Management, which compiles the bank’s Global Real Estate Bubble Index, it found that eight of the world’s largest cities are now subject to a massive speculative housing bubble. And while perpetually low mortgage rates are clearly to blame for the rapid ascent of home prices, Chinese money laundering operations clearly seem to also be playing a role as their favorite markets of Vancouver, Toronto and Sydney all made this year’s list.
Price bubbles are a regularly recurring phenomenon in property markets. The term “bubble” refers to a substantial and sustained mispricing of an asset, the existence of which cannot be proved unless it bursts. But recurring patterns of property market excesses are observable in the historical data. Typical signs include a decoupling of prices from local incomes and rents, and distortions of the real economy, such as excessive lending and construction activity.
- As UBS points out, artificially low interest rates in Europe, for example, have kept mortgage payments below their 10-year average despite real prices surging 30% since 2007.
- ‘hard’ economic data (that doesn’t rely on the emotional responses of humans) has collapsed to its weakest since Feb 2009.
- This is the 6th monthly drop in ‘hard’ economic data in a row, something that has never happened before, pushing the spread between ‘hope’ and ‘reality’ to a record high.
- Fitch has downgraded Deutsche Bank to BBB+ from A- due to continued pressure on earnings, combined with concerns over theprolonged implementation of its recovery strategy.
- The downgrades reflect continued pressure on Deutsche Bank’s earnings, combined with prolonged implementation of its strategy. We no longer expect revenue to demonstrate any clear signs of franchise recovery this year and we expect necessary further restructuring costs to continue to erode net income.
- Consequently, we expect it to take some time before the bank will be able to deliver on earnings targets,
- Revenue is suffering from low capital market volatility combined with persistently low interest rates, particularly in Europe, where the bank is strongest.
- Positively for the ratings, capitalisation was boosted by the bank’s rights issue in April, and
- Senior U.S. officials have told the Associated Press that the U.S. is pulling roughly 60% of its staff out of Cuba and warning American travelers not to visit due to “specific attacks” that have harmed U.S. diplomats – namely the unspecified sonic attacks that have caused injuries ranging from mild to severe in more than 20 diplomats who formerly worked at the embassy. The officials say the US is ordering all nonessential staff in the embassy in Havana to leave, along with all family members. Only “emergency personnel” will remain.
- The Spanish government reiterated its angry rhetoric this morning that the “Catalan referendum won’t happen” “organizers will be held responsible,”
- Madrid, which claims the authority of a constitution that declares the country to be indivisible, remained implacably opposed to the vote. As Reuters reports,
In a sign that large crowds are again expected on the streets on Sunday, department store chain El Corte Ingles said it would shut three stores in central Barcelona. The central government said airspace above the city would be partly restricted.
Lines of tractors draped in the red-and-yellow striped Catalan flag left provincial towns on Friday, planning to converge on Barcelona in a sign of support for the referendum.
- Catalonia’s vice president says more than six out of ten voters are expected to cast ballots during the region’s independence referendum despite the Spanish government’s aggressive efforts to stop the vote.
- Catalan regional government ministers unveiled the ballot boxes they mean to use for the suspended referendum vote this Sunday.
The ballot boxes are made of grey and black opaque plastic.
- South Korean President Moon Jae-in has called for the long-delayed transfer of its wartime operational control (OPCON) from the Pentagon to be sped up, and says the country must develop its own military capacity ” The transfer of the wartime operational control based on our strong defense capabilities will lead to a great development of our military’s structure and capabilities,”said Moon during a speech to mark the 69th Korean Armed Forces Day at a navy base in Pyeongtaek, south of Seoul.Between 1950, when General Douglas McArthur took charge of the South Korean army, and 1994, a US general served as its commander. Since then, Seoul has taken back peacetime control of its armed forces, but would delegate command to the US in case of a conflict, though Korean politicians do formally have a veto.The handover of OPCON to Korean generals has been discussed, touted and negotiated for decades, but in 2014 Seoul asked Washington to postpone it indefinitely, to give the Asian country a chance to build its “core military capabilities.”
- Moscow has confirmed that it received an advance from Turkey for the purchase of Russian S-400 anti-aircraft systems. The much-discussed deal may signal closer ties between both countries, as well as a growing rift between Turkey and its NATO allies.
- “Yes, we have received it [the down payment]. We can’t name the dates of supply yet.
- The largest stronghold of besieged ISIS forces in central Syria has just been secured by the Syrian Arab Army following heavy clashes in and around the strategic site today.
- The leader of the so-called Islamic State (ISIS), Ibrahim Abu Bakr Al-Baghdadi, released a recorded message, today, confirming he is still alive.
- Baghdadi’s 46 minute long message began with a religious sermon and then followed by the terrorist leader encouraging his ‘mujahiddeen’ not to surrender to the ‘infidels.’
- The terrorist leader followed this up by stating that the U.S., Europe, and Russia are living in fear of the Islamic State’s next strike.
- Airport computer systems crashed around the globe yesterday. The crash caused passenger delays, angst, and fright among travelers, but a more ominous question has arisen in light of this glitch. Could the next failure be a worldwide power grid outage?
- Thousands of travelers were grounded yesterday when a computer glitch took down check-in systems at more than 100 airports worldwide. The crash left passengers waiting in long lines at counters while trying to check-in for their flights. T Amadeus Alta, the company that provides the software, confirmed it is experiencing a “network issue that is causing disruption,” The Telegraph reported.
- The glitch affected even massive airports, such London’s Heathrow International Airport, Charles de Gaulle Airport in Paris, and Ronald Reagan International Airport in Washington, D.C. “Technical teams are working on the problem, services are gradually being restored,” the software company said. After a few hours, officials at Gatwick and Heathrow airports said their systems were “back up and running” after the “momentary IT glitch,” adding there may be a delay due to the outage.