Australia housing market is in big trouble, a study reports that 57% of Australian mortgage holder could not handle a $100 increase. Wages are stagnating and the government and banks want inflation, but wages will need to rise. The Catalonia referendum is in process and the police are coming down on the people to keep them from voting. Tillerson says communication with North Korea is now open. Trump says don’t waste your time. Are they playing good cop, bad cop. The cabal is now pushing the propaganda that North Korea is now going after the financial sector. The propaganda will be used to explain away the collapse of the global economic system.
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Current News – 10.01.2017
- A new study shows 57% of Australia mortgage holders could not handle a $100 increase in their loan repayment.
This additional $100 is equivalent to an interest rate rise of just 0.45% based on the national average mortgage of $360,600.
“The typical mortgage holder will begin to struggle once interest rates reach around 5.28% – that’s a pretty small window before borrowing costs start to hurt,”
- Financial Hell Coming
- When top finally blows off the Australian housing bubble, the results will be devastating.
- Labor’s share of the national income is in freefall as a direct result of the optimization of financialization.
- Stagnating wages undermine every aspect of our economy: consumption, credit, taxation and perhaps most importantly, the unspoken social contract that the benefits of productivity and increasing wealth will be distributed widely, if not fairly.
- t labor’s declining share of the national income is not a recent problem, but a 45-year trend: despite occasional counter-trend blips, labor (earnings from labor/ employment) has seen its share of the economy plummet regardless of the political or economic environment.
- The government benefits from inflation in another way: incomes pushed higher by inflation push wage earners into higher tax brackets, and their higher incomes generate higher taxes.
- All this wonderfulness of inflation is negated if wages can’t rise in tandem with inflation. In the view of the central banks, deflation (i.e. wages buy more goods and services every year) is bad, and it’s not hard to understand why.
- The private banking sector benefits from inflation as well. The lifeblood of banking profits is transaction and processing fees from issuing new credit. Since inflation enables households to buy more stuff with credit and service more debt, banks benefit immensely.
- Deflation, on the other hand, is Kryptonite to bank profits – households earning less every year are more likely to default on existing debt and eschew new debt. As wages stagnate, an increasing percentage of the populace becomes uncreditworthy, i.e. a marginal borrower who isn’t qualified to borrow (and thus spend) more.
- We noted yesterday that
- Washington has opened channels to North Korea to find out if the regime is ready to talk about giving up its nuclear weapons, Secretary of State Rex Tillerson said Saturday.
- Speaking after a day of talks with China’s President Xi Jinping and top diplomats, Tillerson told reporters that US officials are in touch with Pyongyang.
- But Tillerson said US diplomats do not rely on China as a go-between in overtures to North Korea, and have themselves talked directly through “our own channels.”
- “We ask,” he said. “We have lines of communication with Pyongyang. We’re not in a dark situation, a blackout, we have a couple, three channels open to Pyongyang.”
- “We can talk to them, we do talk to them,” he said.
- “I told Rex Tillerson, our wonderful Secretary of State, that he is wasting his time trying to negotiate with Little Rocket Man… Save your energy Rex, we’ll do what has to be done!”
I told Rex Tillerson, our wonderful Secretary of State, that he is wasting his time trying to negotiate with Little Rocket Man…
- To many mainstream pundits, the solution to the crisis in Korea is for U.S. officials to sit down and “talk” to North Korea in the hopes of negotiating a mutually beneficial agreement. While it won’t guarantee that a deal will be worked out, they say, “talking” is the only chance there is to resolve the crisis.
- They ignore an important point: Any deal that would be reached would involve trusting the U.S. government to keep its end of the bargain. And trusting the U.S. government would be the stupidest thing North Korea could ever do. That’s because as soon as U.S. officials found it advantageous, they would break the deal and pounce on North Korea, with the aim of achieving the regime change they have sought ever since the dawn of the Cold War more than 70 years ago.
- Look at what U.S. officials did to Libya. Muammar Qaddafi, agreed to give up his nuclear-weapons program in return for regime security. That turned out to be a stupid move. As soon as U.S. officials saw an opening, they pounced with a regime-change operation. Today, Qaddafi is dead and Libya is in perpetual crisis and turmoil. That wouldn’t have happened if Qaddafi had a nuclear deterrent to a U.S. regime-change operation.
- Look at what U.S. officials are doing to Iran. They entered into a deal in which the U.S. government agreed to lift its brutal system of sanctions, which has brought untold suffering to the Iranian people, in return for Iran’s abandoning its nuclear-weapons program. After the deal was reached and Iran had complied, U.S. officials broke their side of the deal by refusing to lift their brutal system of sanctions and even imposing more sanctions. U.S. officials also now looking for any excuse or justification for getting out of the deal to which they agreed.
- Even longtime partners and allies of the U.S. government can never be certain that the Empire won’t suddenly turn against them.
- Look at what happened to the U.S. government’s loyal partner and ally Saddam Hussein. U.S. officials worked closely with him during the 1980s to kill Iranians. But when Saddam invaded Kuwait to settle a oil-drilling dispute, U.S. officials went after him with a vengeance, and notwithstanding the fact that, prior to Iraq’s invasion of Kuwait, they had falsely indicated to Saddam their indifference to his dispute with Kuwait. Result? Today Saddam is dead, and the U.S. government succeeded in achieving regime change in Iraq.
- Look at Syria, which for a time served as a loyal partner and ally of the U.S. government, as reflected by the secret agreement to torture Canadian citizen Mahar Arar on behalf of U.S. officials and report their findings back to the CIA. Later, U.S. officials turned on Assad’s ruler, Bashar al-Assad, in a regime-change operation.
- The Chinese ambassador said he looks forward to deepening political, economic, and strategic ties with Syria.
- China reiterated support for Syria’s sovereignty and unity on Saturday, promising to continue developing strong economic and political relations in the years to come.
- China stands by “Syria’s sovereignty, independence and territorial integrity,” and rejects “any attempt to divide it,”
- The former head of GCHQ says Pyongyang is targeting the British financial sector to fund its nuclear ambitions
- NORTH Korean hackers are trying to loot Britain’s banks as the secretive state turns to cyber-warfare amid financial losses from sanctions that threaten its nuclear capability.
- “They’re after our money,” warned Robert Hannigan, who ran Britain’s signals intelligence agency for three years until March.
- Mr Hannigan said Pyongyang is set to become a “premier league” players in cyber-warfare as it targets Britain’s financial sector.