Building permits decline. Housing starts decline. Philly Fed declines. It looks like the post election bump is starting to take its toll and the dead cat bounce is over. Goldman says Janet Yellen is losing control of the market, the Fed does not lose control they are the market. The Feds plan is to crash the stock market, by deflating the bubble, but this never works out.Carl Denninger says its a mathematical certainty that we are headed for a collapse, be prepared. Judges rule on Trump’s travel ban and they are suspending parts of it. The House and Senate says they have not be supplied with evidence in regards to the wiretaps, Trump says just wait, its going to be big. Poroshenko says the Minsk agreement has been broken. Europe wants to be an independent nuclear deterrent. Russia says there is going to be an attack in Yemen. Russia pushing for Libya, Russia wants the oil and the strategic location. US sending more troops to Syria. Bombs sent to the IMF and shooting occur in France.
Check Out The X22 Report Spotlight YouTube Channel – X22Report Spotlight
Please check Newzsentinel.com for the latest news on the economic collapse. The Sentinel Alerts are updated throughout the day. If you haven’t already, go to “The People” and join the community of people who are helping each through the economic collapse.
Current News – 03.16.2017
- Following January’s ‘Trump-bump’, building permits in February plunged 6.2% MoM, the biggest drop since March 2016 , driven by a tumble in multi-family units. While housing starts rose 3% MoM, the annual growth slipped back to 6.2%, again fading Trump exuberance, despite a 12 year high in builder confidence.
- Permits tumbled…
- It appears for now that homebuolders are more willing to talk about how great things are then actually putting money to work,,,
- With only ‘soft’ survey data supporting any hope of proclaiming economic success post-Trump (as ‘hard’ data has tumbled), the cracks in that sentiment are starting to show. Philly Fed’s business outlook tumbled from 33 year highs in March (falling the most since March 2016). Prices Paid surged in March as New Orders stagnated and general business activity tumbled.
- post-trump rise is stalling…
- From a market perspective, this proposal is more notable for what is not included…
- It provides no economic or fiscal projections, and
- no discussion of tax reform or infrastructure plans, which the White House says will be released “in coming months”, likely as part of a full budget submission to Congress that we expect to be released around May.
- It also includes no discussion of the Obamacare replacement plan.
- #1 Just hours before the Fed announced this rate hike, the Federal Reserve Bank of Atlanta’s projection for U.S. GDP growth in the first quarter fell to just 0.9 percent. If that projection turns out to be accurate, this will be the weakest quarter of economic growth during which rates were hiked in 37 years.
- #2 The flow of credit is more critical to our economy than ever before, and higher rates will mean higher interest payments on adjustable rate mortgages, auto loans and credit card debt. Needless to say, this is going to slow the economy down substantially…
- #3 the number of people that are defaulting on them had already been rising even before this rate hike by the Fed…
- #4 Higher rates will likely accelerate the ongoing “retail apocalypse“, and we just recently learned that department store sales are crashing “by the most on record“.
- #5 We also recently learned that the number of “distressed retailers” in the United States is now at the highest level that we have seen since the last recession.
- #7 about half of all Americans could not even write a $500 check for an unexpected emergency expense if they had to do so right now.
- #8 The bond market is already crashing. Most casual observers only watch stocks, but the truth is that a bond crash almost always comes before a stock market crash. Bonds have been falling like a rock since Donald Trump’s election victory, and we are not too far away from a full-blown crisis.
- #9 debt ceiling crisis. The suspension of the debt ceiling has ended, and Donald Trump could have a very hard time finding the votes that he needs to raise it.
In order to raise or suspend the debt ceiling (which will technically be reinstated on March 16), 218 votes are needed in the House of Representatives. The Treasury’s cash balance will need to last until this happens, or the U.S. will default.
- Government will run out of cash by Memorial day
- #10 And even if the debt ceiling is raised, that does not mean that everything is okay. It is being reported that U.S. government revenues just experienced their largest decline since the last financial crisis.
- the Fed hiked rates for the third time in eleven years.
- In so doing it has confirmed what many have long suspected: that the only thing that matters to the Fed is stock market levels.
- The Fed certainly doesn’t care about GDP growth. If it did, it would be evident that now is NOT the time to be hiking rates.
- The question is , Why would the Fed want to hike twice in three months during sub-2% GDP growth!?
- The simply answer is stock prices.
- Now that the markets are once again roaring, the Fed has decided it’s time to start hiking again. And so it’s hiked twice in three months to attempt to deflate the stock market bubble.
- The only problem with this is that stock bubbles don’t deflate easily. Usually they collapse in a big way. This time will be no different.
- Carl Denninger has suggested that people take time to prepare:
- This time it won’t recover with more “hopium” and fraud – that card has already been played which means the pension funds and annuities across this nation are going to get smoked.
- They are going to come for all of it – pension funds, private retirement funds, savings accounts, you name it.
- They’ll raise taxes to extreme levels, as we are already seeing in California, where they are now literally taxing cow farts.
- The insanity will not only continue, it will accelerate, which means self sufficiency may be your only way to avoid a total collapse of your personal environment.
- Assuming the disaster is worse than 2008 and mirrors something on the order of Greece, we can expect a variety of problems that may limit access to your bank accounts, life saving medicines, food, and meaningful work.
- A collapse is coming. This is a mathematical certainty.
- A federal judge in Hawaii says Muslims in America are unfairly and illegally discriminated against by Donald Trump’s effort to curb the immigration of violent Muslim refugees from war-torn Muslim countries.
- Another judge in Wisconsin says a Syrian who recently was given asylum — and who is not even a citizen — has the right to ask a fellow judge for visas to fly his relatives into the United States, regardless of opposition from the U.S. government’s border, police and intelligence, and immigration agencies.
- Three California judges and a judge in Washington State say the President’s sole right and solemn duty to guard the borders ends when a state suffers financial harm because its universities can’t import more fee-paying customers from restricted countries.
- These judges are competing with each other to throw invented legalistic roadblocks in front of Trump’s legal and proper defense of the nation’s borders, said Hans Von Spakovsky, a former lawyer at the Department of Justice who is now working for the Heritage Foundation.
- “I don’t think the [various judges] have any professional shame about it — in fact, they’re being applauded by newspaper editors for actually ignoring the [Congress’] law and [Supreme Court] rulings based on their own personal policy preferences,”
- The judges’ grab for power, despite the plain text of the Congress’ law and despite prior Supreme Court decisions, “is destructive of the rule of law, which is the entire basis of our Republic,” he said.
- Yesterday it was the Republican head of the House Intelligence committee, Devin Nunes, who repeated what he first said last week, namely that his panel has still not received any evidence that President Trump was wiretapped during the election campaign. .
- Today, it was the Senate’s turn, when the heads of the Senate Intelligence Committee, Republican senator from North Carolina Richard Burr, and Vice Chairman Mark Warner, a Democrat from Virginia, jointly said they had not seen evidence that the Obama administration “wiretapped” Trump Tower, according to a brief statement issued Thursday.
- “Based on the information available to us, we see no indications that Trump Tower was the subject of surveillance by any element of the United States government either before or after Election Day 2016,” Burr said, providing no other details.
This is the same committee that is okay with the NSA spying on everyone…
This is the same committee that did nothing about Clapper’s perjury.
The FISA warrants? No, no, no. Nothing like that exists either.
How about this bunch of Brits that also came up with the “dossier”? Uh oh…. everyone be really quiet and close your eyes. They won’t see us. Maybe they’ll go away.
What about the information that has almost certainly not been made available to them?
“Based on the information available to us, we see no indications that Trump Tower was the subject of surveillance ***by any element of the United States government*** either before or after Election Day 2016,” What about forgein governments?
- President Trump sent a loud and clear warning to Barack Obama last night, warning his predecessor that the “Worse than Watergate” wiretapping scandal is not over yet, and he will be presenting “very interesting evidence” that will prove Obama’s guilt in “the next two weeks.”
- In the interview with Fox host Tucker Carlson on Wednesday night, Trump maintained that evidence would soon be revealed that will prove him right, but he would not explain what that information might be.
- “Let’s see whether or not I proved it,” Trump said. “You looked at some proof. I mean, let’s see whether or not I prove it. I just don’t choose to do it right now. … I think we have some very good stuff, and we’re in the process of putting it together, and I think it’s going to be very demonstrative.”
- Rutte received congratulations from European leaders including German Chancellor Angela Merkel,
The economist card wheel of fortune
- Europe seems to be losing trust in the American nuclear umbrella. As the EU focuses on the need to have its own military, the issue of European nuclear deterrent comes to the fore. The debate has been triggered. This issue is intensively discussed in Germany.
- The nuclear deterrence plan is eyeing France, proposing to turn the French nuclear potential into a European nuclear deterrent. It is believed that Germany could play a decisive role in convincing France, and may be the UK, to provide security guarantees for all of Europe. Under such a plan, Europe would become independent from the US.
- Britain’s decision to leave the European Union could preclude its participation, though it may join the project even outside the EU under certain conditions.
- This would require a doctrine, he said, allowing Europe to introduce nuclear weapons to a non-nuclear conflict.
- Definitely, the proposal is not so popular at present. It will take a lot of time and effort to convince people it should be done. (to get the ball rolling we will see many more scare tactics, false flags) Nobody of those who have advocated the idea remembered that a deterrent under a European command would mean collapse of the Treaty on the Non-Proliferation of Nuclear Weapons (NPT). The chain reaction would lead to the emergence of 55 to 60 nuclear countries.
- Ukrainian President Petro Poroshenko plays another round of “do something terrible, blame it on Russia”
- After urging Ukraine’s National Security and Defense Council to impose a state-sanctioned blockade on Donbass on Wednesday, Ukrainian President Petro Poroshenko said he would “propose another law that would be in line with Ukraine’s national interests” because recognizing eastern Ukrainian territories not under Kiev’s control as “occupied” would “destroy” the Minsk process.
- A rather bizarre admission from Ukraine’ president — especially because he supports the blockade —
- “The Russian S-400 system will not be integrated into NATO missile defense system,
- The Russian Foreign Ministry has warned that the Saudi-led coalition’s plans to launch an assault on Yemen’s biggest port city, Al Hudaydah, will greatly impact the humanitarian situation in the war-torn country.
- A naval blockade by a Saudi-led coalition carrying out air strikes against the yemeni forces is depriving the population of life-sustaining commodities and services.
- The war against Yemen in the region has spread to 21 out of 22 of the country’s provinces and displaced 1.5 million people.
- The Minot Air Force Base is sending a number of B-52 bombers to the Middle East, the first time in 12 years that aircraft from the base have been deployed to support combat operations.
- More than 400 members of the 5th Bomb Wing at Minot departed last week in support of Operation Inherent Resolve,
- Libya’s unity government and rival armed groups in Tripoli have signed a ceasefire deal, ending fierce fighting for the control of the capital.The deal, signed by the UN-backed Government of National Accord (GNA), local mayors and powerful militias from Tripoli and Misrata provides for an “immediate ceasefire.“
- The UN-backed GNA is an illegitimate farce, not supported by the Libyan people. Here’s what Haftar, leader of the Libyan National Army in the east and who at least has the temporary support of the Libyan people, had to say:
some members of the UN-backed Presidency Council and High Council of State held secret meetings with leaders of Al-Qaeda to mastermind the attack on the oil crescent region by Benghazi Defense Brigades, according to Libya Observer.
He said, “This is a coalition of all terrorist groups in western Libya against the Libyan National Army in the east.” He also noted that their aim is political opportunism.
- Libya hosts the world’s 10th-largest oil reserves and the biggest ones in Africa, though it’s been stuck in underproduction ever since the NATO War on Libya led to the assassination of Gaddafi and turned the bombed-out country into a clan-centric patchwork of rival Islamist factions. The subsequent civil war that erupted shortly afterwards ground most production to a halt, though it’s been steadily recovering in the years since. To this end, it’s foreseeable that Moscow’s crucial anti-terrorist assistance (weapons, diplomatic backing, and possible intelligence, advisory, and special forces) to Haftar during his forces’ liberation and unification campaign could be rewarded in the form of profitable energy contracts for rebuilding and exporting some of Libya’s oil. In that case, Russia wouldn’t just earn monetary profits, but also strategic ones as well, since it would be powerfully positioned to indirectly influence the North African state’s energy policies and affiliated relations, both with its export partners and OPEC. .
- but most important, supplementary reason behind why Russia is so interested in lending anti-terrorist support to Haftar’s Libyan forces is because this helps Moscow to reinforce Cairo’s multipolar pivot. President Sisi has recently embarked on taking his country in the direction of multipolarity, strengthening Egypt’s historic relations with Russia and even expressing principled support for Syrian President Bashar Assad. Not only that, but he’s also working real closely with China and is supposedly in talks with Iran to normalize relations with Tehran,
- Now we know why the US started the propaganda of why Russia was bringing troops into Egypt. Most likely we will see something happen in Egypt.
- al-Hadath news website reported that several US military helicopters landed on kilometer 10 of Deir Ezzur-Hasaka road and evacuated a number of ISIL commanders from the region.
“After the helicopter landed, several US marines took 10 ISIL commanders on board and left the region,” the report said.
- The United States may deploy an additional 1,000 troops into northern Syria in a matter of weeks to aid the offensive against the Daesh terror group
- A North Korean hacking group known as Lazarus is likely behind a recent cyber campaign targeting financial organizations in 31 countries, according to Symantec Corp.
- The internet security firm said on Wednesday that researchers have uncovered four pieces of digital evidence suggesting that Lazarus was behind the campaign that sought to infect victims with “loader” software, Reuters reports.
- Earlier today, German police reported that a militant Greek group called Conspiracy of Fire Cells claimed responsibility for the attempt to kill Germany’s finance minister Wolfgang Schauble with a package full of explosives that was mailed to the German Finance Minister. The parcel was mailed to Schaeuble from a post office branch in Athens but as discussed previously, was intercepted by the German finance ministry’s mail department. Luckily, nobody was hurt.
- French President Francois Hollande said Thursday the explosion at the International Monetary Fund (IMF) office in Paris is a terrorist act.