Companies are continually laying off employees. Auto loan market looking very similar to the housing loan market in 2008. Oil prices are suppressed for many reasons, one of the main reasons is to keep the economy from crashing. US is prepared to raise the debt ceiling to 19,600,000,000,000. IMF warns Saudi Arabia will be broke by 2020. IMF has not admitted that the Chinese yuan will become a reserve currency and be included in the SDR basket of currencies. Russia will go up against OPEC. Obamacare exchanges and website does not check to see if people have valid Id’s, they are letting anyone signup. CISA will allow the FBI, CIA, NSA or any other agency to collect all information from companies. Ukraine is creating a registry of websites and will determine which sites should be banned. US war games big problems, hover crafts and military vehicles get stuck in the sand. Russia trying to coordinate with Turkey, Jordan, US and Saudi Arabia to find a Syrian solution. NATO worried that they do not have a strong presence in the Mediterranean to fight Russia. US still trying to push a no-fly zone in Syria.Putin warns the US is trying to provoke a global nuclear war.
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Current News – 10.23.2015
- Banks can offload credit risk by packaging loans and selling ABS to investors thus freeing up their balance sheets to make still more loans.
- The race to get in on the action causes banks to compete for an ever smaller pool of eligible borrowers. ZIRP adds fuel to the fire by i) enticing households to take on more debt, ii) creating demand for ABS as investors hunt for yield in a low rate environment.
- The pool of creditworthy borrowers is of course limited and so, at a certain point, the only way to generate more securitizable debt is to lower your underwriting standards so that previously ineligible borrowers are suddenly eligible.
- total auto debt has now soared above the $1 trillion mark right along with student debt:
- Comptroller of the Currency Thomas Curry raised a rare red flag, saying in a speech that some activity in auto loans “reminds me of what happened in mortgage-backed securities in the run-up to the crisis.” . During the first half of 2015, lenders gave out $56.4 billion in subprime auto loans, up 13% from the same period a year ago and up 181% from the first half of 2009, when the market for these loans bottomed out, according to credit-reporting firm Equifax Inc.
Subprime car loans account for 20% of the car-loan dollars given out from January through June, the highest share for the period since 2008, according to Equifax.
- cheaper jet fuel are doing wonders for American Airlines.
- The world’s biggest airline reported Friday that its net income jumped 80 percent in the third quarter to $1.69 billion despite lower revenue.
- Earnings got a big lift as fuel costs plunged 43 percent, a savings of $1.46 billion.
- “Puerto Rico is not Greece“... but it increasingly looks like it will be in a few weeks, thanks to US taxpayers who are about to foot the bill for yet another creditor bailout.
- “Weiss said that without action by Congress, Puerto Rico’s crisis would escalate and reiterated that the Obama administration’s policies were “not a bailout” for the island.“
- Several days ago, Citi announced that it “expects the upcoming IMF review (scheduled for early-November) will probably lead to China’s inclusion in the SDR basket from late-2016.
- it now appears virtually assured that the IMF will include the CNY in its SDR basket,
- executive director at the IMF for 11 countries including Brazil, said”prospects for approval seem to be favorable,”
Chinese officials are so confident of winning approval that they have begun preparing statements to celebrate the decision, according to two people
- Russian oil companies are ready to compete with the Organization of the Petroleum Exporting Countries (OPEC) regardless of quotas and redistribution within the oil cartel,
- Opportunities abound to defraud the US Affordable Care Act, also known as Obamacare, because many of the health marketplaces do not bother checking the identification of applicants, according to a Government Accountability Office (GAO) report.
- “The GAO tested application and enrollment controls… through the federal Health Insurance Marketplace… and two… state marketplaces,” the report read on Thursday. “Although of these ten fictitious applications failed the initial identity-checking process, all ten were subsequently approved.”
- the current version of CISA would allow any one of the many federal agencies using the data-sharing portal to override that “scrubbing” process, which is one of the few privacy safeguards in the controversial bill.
(3) REQUIREMENTS CONCERNING POLICIES AND PROCEDURES.—Consistent with the guidelines required by subsection (b), the policies and procedures developed and promulgated under this subsection shall—
(A) ensure that cyber threat indicators shared with the Federal Government by any entity pursuant to section 104(c) through the real-time process described in subsection (c) of this section—
(i) are shared in an automated manner with all of the appropriate Federal entities;
(ii) are only subject to a delay, modification, or other action due to controls established for such real-time process that could impede real-time receipt by all of the appropriate Federal entities when the delay, modification, or other action is due to controls—
(I) agreed upon unanimously by all of the heads of the appropriate Federal entities;
(II) carried out before any of the appropriate Federal entities retains or uses the cyber threat indicators or defensive measures; and
(III) uniformly applied such that each of the appropriate Federal entities is subject to the same delay, modification, or other action; and
- The “controls” referenced in (ii) are the processes for scrubbing private or otherwise unnecessary information from data prior to its sharing. The Section 105 language, thus, effectively gives the heads of the Federal Bureau of Investigation, the National Security Agency, and the other participating “Federal entities” veto power over the data-scrubbing process.
- cybersecurity bill would lower barrier for US to pursue foreign nationals for cybercrime
- An amendment to a controversial cybersecurity bill will allow US courts to pursue and jail foreign nationals even if the crimes they commit are against other foreigners and on foreign soil.
- But the amended law would make it a crime punishable by US prison time not merely to clone the credit card or steal the Netflix password of an American citizen, but to take unauthorized information from any American company, no matter where it happens.
- In other words, if a French national hacks a Spanish national’s MasterCard, she could be subject to 10 years in US prison under laws changed by the bill.
- The Electronic Frontier Foundation points out that the computer fraud laws that would be broadened by Cisa were used to prosecute the late founder of Demand Progress, Aaron Swartz, for downloading articles from JSTOR, the digital library of academic journals
- When Ukraine’s Interior Minister announced the initiative to form a new cyberpolice unit on October 11, the focus of the media coverage—
- Along with other measures to improve information security, the Ministry plans to establish a registry of websites and webpages blocked for distributing “forbidden content.”
- The presentation slide featured above, which was published on the Interior Ministry’s website, indicates that websites featuring pirated content violating copyright, child pornography, malware and viruses, and phishing content will be listed on the banned website registry.
- NATO’s biggest war games in 13 years hit a speed bump in Portugal this week, with hovercrafts and Humvees embarrassingly getting stuck in the sand. The incident happened during a training exercise as journalists watched.
- It all began when two hovercrafts were released from the USS Arlington amphibious transport dock. They were unable to make it to shore as planned, and managed to do so only on the second attempt,
- An order was then given to release two Humvees, which also got bogged in the sand. Troops were ordered to assist in freeing the vehicles, but they simply sank deeper
- The number of terrorists from the Islamic State in Afghanistan is estimated to be approximately 3,500
- “The bridge over the Euphrates River near [the Syrian city of] Deir ez-Zor was a key point of the logistics chain [of IS]. Today Russian pilots carried out a surgical strike against the object,” the deputy chief of the General Staff of Russia, Colonel General Andrey Kartapolov, said on Thursday during a news briefing, adding that the terrorist group’s armament and ammunition delivery route had been cut off.
- Kartapolov also stressed that the strike was delivered in a region that, according to the US military, was fully controlled by IS militants.
- A Syrian army general says government forces have dealt heavy blows to members of the ISIS terror group and other Takfiri outfits operating in the country, forcing the extremists to flee towards the Turkish border in search of refuge.
- On the Syrian conflict
- The division of Syria is totally unacceptable. This will not resolve the conflict; the conflict will acquire a permanent character. Nothing good will come out of it.
- The top diplomats from Russia, the United States, Saudi Arabia and Turkey will hold talks on the war in Syria on Friday,
- Russia and Jordan agreed to create a coordination center in Amman, which will be used by the two countries to share information on the counter-terrorism operations,
- Russia is already in touch with Iran, Iraq and Syria through a Baghdad-based center used for the same purpose.
- Lavrov said Jordan would play a positive part in finding a political solution to the Syrian conflict through negotiations between Damascus and opposition forces,
- The Aleppo power plant is a 1,000 megawatt thermal plant in five units build by Mitsubishi Heavy Industry in 1995-1998. It is situated some 25 kilometers east of Aleppo city center. During the fighting around Aleppo various electricity distribution stations were damaged and electricity in parts of the city has become scarce and unpredictable.
warplanes of the Washington alliance violated Syrian airspace and attacked civilian infrastructure in Aleppo countryside .The source added that the warplanes attacked the biggest electric power plant that feeds Aleppo city, which resulted in cutting off power from most neighborhoods in Aleppo city.
- Without the plant Aleppo city, with some 2-3 million inhabitants and refugees, as well as the surrounding areas in Aleppo governate have no electricity. The damage the U.S. bombing caused will make sure that any repair will take a long time. This will make life for people on every side of the war more unbearable and more people will leave to seek refuge in foreign countries.
- This new deployment comes amid reports of a serious debate going on in the administration on a dramatic buildup of the war in Syria .Secretary of State John Kerry is said to be leading a push for a show of force, including declaring a “no fly zone” in northern Syria and attempting to block Russia from the area militarily.
- the Pentagon is much less upbeat about the idea, issuing a report warning about the massive amount of military resources needed to enforce a no-fly zone and warning that trying to bar Russia from parts of Syria risks “an inadvertent clash.”
- NATO military chiefs are raising alarm over what they now view as “a wider strategic plan of Vladimir Putin’s Russia to challenge the west closer to home”;
- Source: globalresearch.ca
- Putin also warned that some nuclear powers seem to believe that there’s a way to take the “mutually” out of “mutually assured destruction.”
- That is, Putin warned against the dangers of thinking it’s possible to “win” a nuclear war.
- The deterrent of nuclear weapons has started to lose its value, and some have even got the illusion that a real victory of one of the sides can be achieved in a global conflict, without irreversible consequences for the winner itself – if there is a winner at all.”
Putin is suggesting that the world may have gone crazy. The implication is that the US believes it not only has the capacity to win a war against the nations Washington habitually places on its various lists of “bad guys” (i.e. Russia, Iran, and China), but that Washington believes America can win without incurring consequences that are commensurate with the damage the US inflicts on its enemies. That, Putin believes, is a dangerous miscalculation and one that could end up endangering US citizens.