UK retail growth slows more than expected. US job opening soar as corporations sales decrease. US credit card debt at an all time high, more people are living on credit to survive. Fannie Freddie are going to be trouble when the downturn in the economy begins .Corporate leverage is at an all time high. Russia is prepared and ready to cut their dependence on the dollar and payment system. Obamacare is officially destroying the economy. Duterte meets Tillerson, the Pentagon wants to bomb the IS in the Philippines. Canadian National advisor visits NK. Tillerson says all NK needs to do is to stop the missile tests at the same time the US and South Korea hold live fire drills. Japan ups the ante and reports that NK might have a miniature nuke. China gets its way on NK, the US (deep state) didn’t want talk or sanctions they wanted action and China and Russia stepped in to stop it. Deep state planning a false flag in NK, Trump tweets out the plan. IS loses ground in Syria, the Syrian army and Russian troops control most of central Syria. There are reports that behind the scenes there is a secret deal in regards with Raqqa.
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Current News – 08.08.2017
- British retail sales grew more slowly in July, data published on Tuesday showed, as shoppers cut back on non-essential spending and budgeted for the higher price of food e.
- UK retail sales increased by an annual 0.9 percent on a like-for-like basis, which strips out changes in store size, the British Retail Consortium said.
- That was down from growth of 1.2 percent in June
- Aside from the unexpected surge in job openings, the rest of the report was more subdued, with the pace of hiring actually declining from 5.459MM to 5.356MM…
- … a decline in the annual growth rate from 6.2% in May to 3.5% in June. The hires rate was 3.7 percent. The number of hires was little changed for total private and for government. The number of hires decreased
- Federal Reserve confirmed that as of the end of June, total revolving (i.e. credit card) credit rose to $1,021.7 billion, an increase of $4.1 billion on the month, and a new all time high, taking out the previous record high set during the summer of 2008.
- Coupled with the monthly $8.3 billion increase in non-revolving credit, which also rose to an all time high of $2,834.1 billion…
- … means that total consumer credit in June increased by $12.4 billion, slightly less than the $13.9 billion expected and modestly less than the $18.4 billion increase in May, to $3,855.8 billion, also a record high.
- Taking a closer look at the quarterly update in non-revolving debt, we find that for another consecutive quarter, both student and auto loans hit record highs, of $1.450 trillion and $1.131 trillion
- … the fact that US households increasingly have to rely on their credit cards to support their daily lives will hardly come as a surprise.
- While the latest Fed stress test found that all US commercial banks have enough capital to survive even an “adverse” stress scenario, a severe recession in which the VIX hypothetically soars to 70, the two US mortgage giants would not be quite so lucky: according to the results from the annual stress test of Fannie Mae and Freddie Mac released today by their regulator, the Federal Housing Finance Agency, the “GSEs” which were nationalized a decade ago in the early days of the crisis, would need as much as $100 billion in bailout funding in the form of a potential incremental Treasury draw, in the event of a new economic crisis.
- Under the “severely adverse” scenario, i.e., a “severe global recession” U.S. real GDP begins to decline immediately and reaches a trough in the second quarter of 2018 after a decline of 6.50% from the pre-recession peak. The rate of unemployment increases from 4.7% to a peak of 10.0% in the third quarter of 2018. CPI declines to about 1.25% by the second quarter of 2017 (so not that much further from here) and then rises to approximately 1.75% by the middle of 2018. Outright deflation is not even considered.
- In addition, equity prices fall by approximately 50% from the start of the planning horizon through the end of 2017,
- The two companies, which buy mortgages from lenders, wrap them into securities and make guarantees to investors in case the loans default backing more than $4 trillion in securities, would need to draw between $34.8 billion and $99.6 billion in U.S. Treasury
- Russia will speed up work on reducing its dependence on U.S. payment systems and the dollar as a settling currency in response to U.S. sanctions, Deputy Foreign Minister Sergei Ryabkov
- “we will of course intensify work related to import substitution, reduction of dependence on U.S. payment systems, on the dollar as a settling currency and so on. It is becoming a vital need.” The reason for that is that “the US is using its dominating role in the monetary and financial system to impose pressure on foreign business, including Russian companies.”
- the retail sector has been stagnant and most people are blaming AMAZON. A closer look is really required rather than the typical superficial analysis. Today, online sales represent only 8.5%-12% of total retail sales. Amazon comes in at $80 billion in sales, but this merely amounts to just 1.5% of total U.S. retail sales, since 2016 total retail sales were around $5.5 trillion.
- The health-care inflation is the greatest rising cost to everyone and the proliferation of high-deductible plans has devastated Millennials. Some are paying $300 a month yet have $3,000 deductibles. In effect, the cost of health-care has been one huge fraud that is enriching the insurance companies . Obamacare has drastically increased consumer direct health-care costs and further chipped away at discretionary dollars f
- Secretary of State Rex Tillerson met face-to-face with Philippine President Rodrigo Duterte in Manila this weekend,
- “You come at a time when I think the world is not so good, especially in the Korean Peninsula,” Duterte said to Tillerson, who also told him, ”I am your humble friend in Southeast Asia,” according to numerous press reports. The two met during Tillerson’s trip to Asia for a series of meetings with regional officials.
- “Human rights groups have questioned the Trump administration’s willingness to engage with Duterte, “But Tillerson argued there’s no contradiction presented by the U.S. decision to help his country fight the militants, whose insurgency in the Philippines has stoked global fears about the Islamic State group exporting violence into Southeast Asia and beyond.”
- “I see no conflict—no conflict at all in our helping them with that situation and our views of the human rights concerns we have with respect to how they carry out their counter narcotics activities,” Tillerson told reporters.
- the US Department of Defense is weighing a new strategy that would authorize the military to expand its global drone strike program to the Philippines, according to a new report.
- The drone strikes would be part of an official operation against Daesh (ISIL) targets in the Southeast Asian
- The US can do this but if they do not have the permission of duterte he is going to remove the US permantley. Duterte realizes how the US allowed the IS to expand in Syria, right now his troops are very strategic and are bombing the terrorist making sure not to hit civilians.
- Defense officials in Philippines deny reports from the United States that American military contingents are examining the possibility of a military intervention in the country due to the war with ISIS aligned terrorists and other insurgents on the southern Philippine island
- The Philippines National Democratic Front has alleged the US Central Intelligence Agency and the Armed Forces of the Philippines (AFP) have been plotting to kill exiled Communist Party founder Jose Maria Sison, and overthrow President Rodrigo Duterte.
- The NDF claim military officers, who are assets of the CIA and close to AFP chief General Eduardo Ano, were engaged in a “two-stage” plot. The first step would see the dispatch of a hit team to Sison’s Netherlands home, comprised of elite AFP forces disguised as disaffected dropouts from the New People’s Army, to take out the dissident.
- The second would result in the overthrow Duterte, ostensibly for violating human rights in his ongoing “War on Drugs and Criminality” in the country, but in reality for veering towards Russia and China in international affairs.
- Daniel Jean, national security advisor to the prime minister of Canada, and his party arrived in Pyongyang, the Korean Central News Agency (KCNA) said, without elaborating further.
- The visit has drawn speculation that the envoy was to discuss the issue of Korean-Canadian pastor Lim Hyeon-soo detained in the reclusive regime. Lim has been held in custody by the North since he entered the reclusive country on a humanitarian mission in January 2015. In December the same year, the North’s highest court sentenced Lim to life in prison, citing his “subversive plots” against the Pyongyang regime.
- Secretary of State Rex Tillerson seems to have dropped a condition for direct talks between Washington and Pyongyang. North Korea must halt its missile tests, but the top US diplomat left out any stipulation on nuclear testing.
- “The best signal that North Korea can give us that they are prepared to talk would be to stop these missile launches,” Tillerson said
- South Korea staged what military officials called a “routine” exercise near its contentious western border with North Korea, with Seoul’s marines using K9 self-propelled howitzers to fire more than 200 artillery rounds and launching a Spike surface-to-surface missile.
- The live-fire drills were held by the 6th brigade and the Northwest Islands Defense Command, tasked with defending Seoul’s Yellow Sea islands, and featured 2.75-inch rockets carried by AH-1S Cobra attack helicopters, according to the Marine Corps.
- Japan’s government has released a new 500-page report in which it warns that the threat from North Korean nuclear weapons has reached a “new stage” and that Pyongyang’s weapons program had “advanced considerably,” to the point where it was possible that the regime had acquired the ability to miniaturize nuclear warheads.
The report went on to speculate that North Korea had improved its technological expertise to the point where it could theoretically marry a nuclear warhead with a missile.
- the exact same narrative escalated when the WaPo echoed what Japan said, only it now “confirms” that North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles, “crossing a key threshold on the path to becoming a full-fledged nuclear power, U.S. intelligence officials have concluded in a confidential assessment.”
- Of course, another vivid instance of “confirmation” of weapons being present, not nuclear so much as of “mass destruction” is the following.
- The latest UN Security Council resolution on the North Korea crisis shows that it is China’s approach which is prevailing.On 30th July 2017, in the immediate aftermath of North Korea’s latest ballistic missile test, Nikki Haley, the US ambassador to the United Nations, published a portentous statement saying that the US would not seek an emergency meeting of the UN Security Council to discuss the North Korean test or additional sanctions against North Korea.Nikki Haley’s
There is no point in having an emergency session if it produces nothing of consequence. North Korea is already subject to numerous Security Council resolutions that they violate with impunity and that are not complied with by all UN Member States. An additional Security Council resolution that does not significantly increase the international pressure on North Korea is of no value.
- A few weeks later the UN Security Council has met and has voted unanimously for further sanctions on North Korea.What happened to cause the US to change its mind?Firstly, the wording of Nikki Haley’s statement shows quite clearly that the US – or at least Nikki Haley – believed that no further UN Security Council resolution was necessary because the existing UN Security Council resolutions were more than sufficient to force North Korea into line but were not being complied with by various “UN Member States” – a transparent reference to China.The fact that the UN Security Council – including Nikki Haley – have just voted for a further resolution that purports to tighten sanctions on North Korea shows that either this was wrong or that the US has changed its mind. the latest sanctions banning North Korean coal exports to China merely codify a situation which is already existing, and cannot reduce North Korean export earnings by a third from their current level. The Chinese wanted the UN Security Council involved in deciding the North Korean question because like the Russians the Chinese insist on the UN Security Council’s primacy in deciding international questions.The US – increasingly short of options in dealing with North Korea – has been forced to go along.The Chinese in the meantime have made clear what route they want the contending parties in this crisis – North Korea and the US – to follow. They have again used the latest UN Security Council meeting to make clear that the option of regime change in North Korea is ruled out, and that they want direct negotiations between North Korea and the US. They also want North Korea to suspend its ballistic missile and nuclear tests and the US to end what China sees as its provocative military exercises in South Korea.
In the longer term the Chinese want North Korea and the US to agree a formal peace treaty with each other, with North Korea and the US normalizing relations by opening embassies in each others’ capitals and the US withdrawing all its forces including its THAAD anti ballistic missile interceptors from South Korea.
- President Donald Trump on Tuesday morning retweeted a news report on North Korea that U.S. Ambassador to the United Nations Nikki Haley refused to comment on because she said it contains “classified” information.
- Trump retweeted a Fox News story that reported U.S. spy agencies detected via satellite the North Korean regime loading two anti-ship cruise missiles on a patrol boat on the country’s east coast. These missiles have not been on this type of craft since 2014.
- Hours after the report was published, Haley appeared on “Fox & Friends” to discuss new U.N. sanctions imposed on North Korea. When asked by co-host Steve Doocy about the story, Haley refused to comment on it.
- “I can’t. I can’t talk about anything that’s classified, and if that’s in the newspaper, that’s a shame,” Haley said. “I have no reason to comment on that.”
- Haley made her comments the same morning that Trump retweeted the article from the “Fox & Friends” Twitter account.
- The loss of Al-Sukhnah could not come at a worse time for the Islamic State (ISIL), as their forces are spread too thin and surrounded by the government forces in central Syria.
- the Islamic State has no choice but to abandon central Syria and move their remaining militants to the eastern part of the country.
- Even though the US-led coalition dismissed reports of US forces preparing to abandon their training base near al-Tanf in Syria, it appears that there are actually several reasons that might make withdrawing from this area a prudent move for the PentagonLocal media reported on Wednesday that the United States was planning to leave the training base near the Iraqi border, and the Russian military would take over it.
- “The fighting has significantly decreased and you totally notice that,” a Syrian officer
- “We don’t hear shelling anymore, but sometimes groups like the Nusra Front break the truce. Nusra is not part of the agreement. If they shoot, we have to retaliate,
- the residents and Syrian government troops give Russia the credit for brokering the truce. not the US
- “Russia has helped a lot, they laid the groundwork for the ceasefire — they have the most power,” the Syrian officer said.
- This report is still unconfirmed, but based on the current strategic situation in Syria, this apparent behind closed doors agreement would be a practical decision.
- The US deep state’s masterplan for a federalized partition of Syria also appears to have ignored another obvious factor – that Syria was not going to hand over any of its territory in a US-led course of action.
- The Syrian Arab Army, Russia, the United States and the Units of protection of the Kurdish Forces of the people have reached a secret agreement to coordinate their action against Daesh in Raqqa.
- The agreement on Raqqa is the second one of the year. It follows the agreement reached on Manbij/Al-Bab by virtue of which, the territories that the Kurds have liberated from Turkish occupation have been restored to Damascus.