Time Inc is cutting 300 jobs, Toy R Us is in trouble as sales continue to decline. Retail sales numbers are out and sales in each sector has declined. The retail industry is imploding. GM extends shutdown of more plants as inventories build up. 2nd Quarter GDP has taken another hit as the economy rips itself apart. Bundesbank’s warns that they are now looking at the biggest asset bubble they have ever seen and cryptos might cause everything to crash. The US Gov/Central Banks are going after cryptos now. The Fed makes their move and they raise interest rates. They have now just accelerated the collapse of the economy. As BoA reports when the Fed tightens we end up with an event. The democratic party is now taking it to the next level they are now suing the President. Germany wants complete control of communications and wants to finger print children. India and Pakistan join the Shanghai Cooperation. US soldiers are not fighting in Philippines. Trump give the Pentagon more power to deploy troops. The forces in Syria bring in a missile launcher across the border in Syria. There was an event near DC and a senator was shot. This false flag is now being used for many different agendas.
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 – 06.14.2017
- Media giant Time Inc. has announced it will lay off as many as 300 workers in an attempt to cut costs and restructure the company
- GM will extend the typical summer shutdown at certain U.S. factories to deal with slumping sales and bloated inventory, a sign the industry’s hot streak is grinding to a halt.
- Here is what GM’s auto inventory since emergency from bankruptcy looks like.
- Fitch Ratings’ Auto Loan Annualized Net Loss Index shows the strong seasonality, with either May or June forming the low point each year and the winter months forming the peaks. A terrible trend took off in 2014.
- So let’s see.
- Negative equity hits all-time record. The average negative equity in vehicles that were traded in for new vehicles during Q1 2017 has reached $5,195 per trade, the highest ever, according to Edmunds data,
- This negative equity in the trade is then rolled into the new loan, thus increasing the negative equity in that vehicle from the first second, which sends net losses soaring in the event of default.
- Why is negative equity such a growing phenomenon? Because of the toxic trifecta in the auto industry, now happening
Lengthening loan terms.
Rising transaction prices.
Falling used-vehicle values.
- April Business Inventories tumbled 0.2% MoM in April (following Wholesale Inventories decline). This is the biggest drop since November 2015.
- Inventories-to-Sales stagnated in April but remain in a recession-signalling mode…
- Not a good sign for Q2 GDP.
- When global financial markets crash, it won’t be just “Trump’s fault” (and perhaps the quants and HFTs who switch from BTFD to STFR ) to keep the heat away from the Fed and central banks for blowing the biggest asset bubble in history: according to the head of the German central bank, Jens Weidmann, another “pre-crash” culprit emerged after he warned that digital currencies such as bitcoin would worsen the next financial crisis.
- As the FT reports, speaking in Frankfurt on Wednesday the Bundesbank’s president acknowledged the creation of an official digital currency by a central bank would assure the public that their money was safe. However, he warned that this could come at the expense of private banks’ ability to survive bank runs and financial panics.
- As Citigroup’s Hans Lorenzen showed yesterday, as a result of the global liquidity glut, which has pushed conventional assets to all time highs, a tangent has been a scramble for “alternatives” and resulted in the creation and dramatic rise of countless digital currencies such as Bitcoin and Ethereum. Citi effectively blamed the central banks for the cryptocoin phenomenon.
- Recently a new bill was introduced on the floor of the US Senate entitled, pleasantly,
- “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.”
- You can probably already guess its contents.
- Cash is evil.
- Bitcoin is evil.
- Now they’ve gone so far to include prepaid mobile phones, retail gift vouchers, or even electronic coupons. Evil, evil, and evil.
- Among the bill’s sweeping provisions, the government aims to greatly extend its authority to seize your assets through “Civil Asset Forfeiture”.
- Civil Asset Forfeiture rules allow the government to take whatever they want from you, without a trial or any due process.
- This new bill adds a laundry list of offenses for which they can legally seize your assets… all of which pertain to money laundering and other financial crimes.
- Here’s the thing, though: they’ve also vastly expanded on the definition of such ‘financial crimes’, including failure to fill out a form if you happen to be transporting more than $10,000 worth of ‘monetary instruments’.
- Have too much cash? You’d better tell the government.
- If not, they’re authorizing themselves in this bill to seize not just the money you didn’t report, but ALL of your assets and bank accounts.
- They even go so far as to specifically name “safety deposit boxes” among the various assets that they can seize if you don’t fill out the form.
- Here’s where these people demonstrate that they have no idea what they’re talking about.
- No one “issues” Bitcoin. There’s no Bitcoin central bank. There’s no Chairman of Bitcoin who decides on a whim to increase the supply.
- Bitcoin is created automatically amounts that are pre-determined by its code. It’s software.
- So the Senate is essentially trying to force the Bitcoin core software to comply with money laundering regulations.
- The bill also attempts to drop a major bomb on Bitcoin by including it in the list of monetary instruments that must be reported when entering or leaving the US.
- So theoretically if you leave the US with more than $10,000 in Bitcoin or Ether, you’d have to confess this fact to the authorities or otherwise face the aforementioned penalties, i.e. prison time, civil asset forfeiture, etc.
- This bill is nothing more than another weapon in their ongoing War on Cash… and now cryptocurrency too
- cities in oil-dependent states like Texas are resorting to increasingly creative means to compensate for the shortfall left by falling energy revenues, including selling off public assets, like Houston just did.
- “a yard sale of sorts” last week when the city council approved selling or swapping almost $2 million worth of city streets and utilities easements in a deal that will help close what’s expected to be a $100 million budget shortfall over the next five years.
- Specifically, the council abandoned or sold several streets and easements on the east side of the city.
- Fed hiked rates by 25bps and maintained its rate-hike trajectory forecast, shrugging off the collapse in economic data
- *FED RAISES RATES, MAINTAINS FORECAST FOR ONE MORE HIKE IN 2017
- Suze Orman, was talking about the last recession as a lesson for people to heed, especially for the millions of people who were out of work for a year or longer.
- “Go back to 2007… You lost your job, you lost everything, you were working on this tech thing and all the startups went down,” “Nobody had any money to invest, nobody wanted to touch anything, nobody wanted to IPO because the markets were going down and you couldn’t find anything to do. Think it took you just three months to find another job? Think it took you six months to find another job?”
- Orman said. What if something happens crazy in this world? We live in the craziest world I’ve ever seen in my life right now. And the only way you can take craziness out of that if for you to make yourself secure.”
- the third rate hike by the Fed during this cycle.
- Why would this matter?
- Because it indicates the Fed is embarked on a serious tightening cycle. One rate hike can be a fluke. Two rate hikes could even be just policy error. But three rate hikes means the Fed is determined.
- As Bank of America noted in a recent research note, when the Fed becomes determined to tighten… it usually ends in an “event.”
- Following the testimonies of both former FBI Director James Comey and Attorney General Jeff Sessions, the Left’s ‘Russian Collusion’ narrative has completely unraveled. Comey’s admission under oath that Trump was never under investigation and that he never attempted to influence the Russia investigation was a startling realization for disaffected democrats and the mainstream media who have been flailing around ever since anxiously attempting to craft a new damaging narrative to perpetuate their witch hunt.
- the new narrative Trump is violating the “emoluments clause” of the constitution every time a foreigner decides to stay at one of his hotels. nearly 200 Democrat members of Congress have signed onto the lawsuit led by Senator Richard Blumenthal.
legal scholars were skeptical, particularly since the lawsuit was filed only by Democrats, the minority party in both houses of Congress.
“Just because they can’t convince their peers doesn’t mean you can go to court to get what you want,” said Andy Grewal, a law professor at the University of Iowa.
Generally, a lawmaker can sue if he or she has suffered individual injury, Grewal said.
But a case like this is problematic, he said.
“Because this is individual legislators who don’t have any individual injuries, it will be hard for them to get standing,” he said.
- india and Pakistan, the two countries were granted full membership of the Shanghai Cooperation Organisation (SCO) during its two-day annual summit in Kazakhstan last week.
- Germany is planning a new law giving authorities the right to look at private messages and fingerprint children as young as 6, the interior minister said
- Ministers from central government and federal states said encrypted messaging services, such as WhatsApp and Signal, allow militants and criminals to evade traditional surveillance.
- “We can’t allow there to be areas that are practically outside the law,” interior minister Thomas de Maiziere told reporters in the eastern town of Dresden.
- Among the options Germany is considering is “source telecom surveillance”, where authorities install software on phones to relay messages before they are encrypted. That is now illegal.
- Austria is also planning laws to make it easier to monitor encrypted messages as well as building out a linked network of cameras and other equipment to read vehicle licence plates.
- “Children are victims of extremism,” we must protect the children.
- France was first put into a state of emergency on November 13, 2015, after an attack in Paris killed 130 people. French activists and lawyers are warning that a new bill will make the country stay in a permanent state of emergency, effectively making all of the measures that are put in place during a state of emergency the permanent law of the land.
- “They tell us we’re ending the state of emergency, but they are actually making it eternal. It’s an intellectual scam,” Marie-Jane Ody, vice president of a prominent union representing judges,
- “Imagine a fascist-like group rises to power. All the legal instruments would be in place to commit abuses,” Ody added.
- “These measures would trample individual and shared liberties and would lead us toward an authoritarian state,”
- Philippine officials say US troops are on the ground near the besieged city of Marawi, which fighters linked to Islamic State (IS, formerly ISIS/ISIL) have occupied for more than three weeks.Philippine military general Brigadier General Restituto Padilla said in a news conference on Wednesday that the US troops are operating in a support role and are not involved in fighting the militants.”There are some US personnel who are operating equipment to provide information on situation awareness to our troops,
- President Donald Trump has has given the Pentagon unilateral authority to set troop levels in Afghanistan, the WSJ and Reuters , no immediate decision had been made about the troop levels, The news comes after Mattis said in testimony to the Senate Armed Services Committee that “We are not winning in Afghanistan right now. And we will correct this as soon as possible.”
- New Zealand Brig. Gen. Hugh McAslan has admitted that Coalition forces used white phosphorus in Mosul. Supposedly, its use was to assist civilians attempting to flee Islamic State militants and not as a weapon.
- At least 99 were killed and five were wounded or sickened:
- On Tuesday, ISIS insurgents attempted to infiltrate two government-held neighborhoods in Deir Ezzor city,
- the Syrian Arab Army (SAA) foiled two coordinated ISIS attack
- You would think that when Syrian forces surprised the Pentagon and effectively neutralized the US base in southern Syria by cutting it off from coveted ISIS-held eastern Syria this would have helped to defuse the standoff there.However, rather than contemplating retreat from what is now an almost completely useless and strategically irrelevant occupation zone the US military is for some reason doubling down
The US military has moved its High Mobility Artillery Rocket System (HIMARS) from Jordan into southern Syria
- With a reach of 300 kilometers it could have comfortably defended the US al-Tanf base from Jordan.
- Today’s dramatic shooting attack on Congressmen during an early morning baseball practice appears to have been politically motivated.
Rep. DeSantis: Man Asked Whether Republicans or Dems Were on Field Before Scalise Shooting
Rand Paul told MSNBC that “Scalise being at practice “saved everybody else’s life. W/o leadership person there would’ve been no security there.”
- President Donald Trump revealed that the shooter who attacked the Congressional Republican baseball practice had died of his injuries.
- The gunman was reportedly James T. Hodgkinson, a 66-year-old Illinois man.
- Sen. Bernie Sanders (I., Vt.) condemned Wednesday’s shooting that was apparently perpetrated by a former volunteer on his presidential campaign, saying he was “sickened by this despicable act.”
- Paul said, “Everybody probably would have died, except for the fact that the Capitol Hill police were there,” ”
- Governor McAuliffe said 93 million American lose their lives per day at the hands of gun violence. He didn’t want to politicize the baseball shooting, where 4 people were shot by a deranged Bernie Sanders supporter, believer in the mercenary media’s Russian conspiracy theories — but that’s exactly what he did.
- Law enforcement arrived at Hodgkinson’s home this morning.Neighbors said the suspect has not lived at the home for a while but his wife remains in the home.
- The News-Democrat also cites a Facebook profile it says belonged to Hodgkinson, which featured a post from Monday: “I Want to Say Mr. President, for being an ass hole you are Truly the Biggest Ass Hole We Have Ever Had in the Oval Office.”
- The Facebook profile is linked to a number of left-wing, anti-Republican groups, including “Terminate The Republican Party,” among others:
- I do not like Trump, Cruz, the TeaParty! or “Hate-Radio” Damn! Damn! Damn!
- Expose Republican Fraud
- Boycott The Republican Party
- Liberal Democratic Socialist Party
- Investigation of Russian Interference in the 2016 Presidential Election
- I Hate Donald Trump
- Our Revolution Street Team
- Boycott the Koch Brothers Industries and Products.
- Healthcare & Education Berners United to Resist Trump
- JOIN THE OCCUPY ARMY!
- Hodgkinson reportedly maintained other social media accounts that authorities are probing.