The Indian economy is breaking down since the demonetization. Caterpillar being investigated because of exports. hhgregg shutting 40% of its stores. Costco getting hit by inflation. Services PMI declines. The economy is in a recession and the Fed is preparing for a collapse of the system. The Fed now reports that it will issue 1 Trillion dollars in QE for the upcoming economic crisis. The establishment is now pushing their agenda to remove Trump, they are going after his appointees and Obama, Soros, Holder and other are strategizing to push this as hard as possible. Fake News CNN is now pushing the story that the Russian Ambassador is a spy. The establishment is now in full throttle mode to bring down the current government. Trey Gowdy says there is no evidence of Russia collusion and said not to listen to the media leaks. The EU has implemented a kill switch to combat hate speech. If they don’t like what is being said they can just shut it down. The US already has a kill switch to shutdown the internet. Ukraine along with Soros is now blocking coal shipments to push a war. The Syrian government is liberating many villages in Aleppo. The entire system is now falling apart of the globalists, next move is going to be big.
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Current News – 03.03.2017
- The Sales Managers Index (SMI) is one of the earliest monthly indicators of Indian economic activity. February’s data shows the catastrophic after-effects of the December demonetization policy which was intended to crack down on corruption and ‘black money’.
- The February Headline SMI has fallen to an index level of 60.2 in unadjusted terms, the lowest level in over 3 years.
- Managers are reporting a big drop in monthly sales for both the consumer and industrial sectors, with small to medium size businesses that predominantly deal with cash transactions, being hardest hit.
- Overall, February SMI data suggests an erratic situation for Indian businesses as they meet market challenges with considerably lower levels of confidence, slower monthly sales and higher prices caused by the currency situation.
- While the catalyst behind the raid still remains unclear, we reminded readers yesterday that this was not the first time CAT has gotten in trouble with the authorities: back in 2014 CAT and PWC got in trouble before Congress for evading taxes using offshore locations when this infamous line came up: “What the heck, we’ll all be retired when this audit comes up on audit.”
- the search warrant might be connected in part to a previous matter related to the company’s Switzerland-based subsidiary that has been under review for more than three years.
- HHGregg on Thursday said it will close three distribution facilities and 88 underperforming stores (some 40% of its fleet), laying off about 1,500 workers, as part of its restructuring plans.
- Membership fees rose 5.5% to $636 million (same annual fees, more members).
- Merchandise costs rose 6.0% to $25.9 billion
- Selling, general, and administrative expenses rose 5.1% to $2.98 billion.
- Operating income fell 1.4% to $844 million
- Operating margins declined to 2.8% from 3.0% a year ago and from 3.2% two years ago
- Net income (after net interest expense and income taxes) fell 5.7% to $515 million.
- In short, sales rose 5.7% in part due to inflation, but net income fell 5.7% for the same reasons. Inflation works both ways.
- Effective June 1, it will raise the basic membership fee in the US and Canada by 9.1%
- Costco, though showing the first signs of trouble, is still one of the exceptions in the painstaking and relentless collapse of brick-and-mortar retail.
- Markit’s Services PMI tumbled to 5-month lows in February (down to 53.8) – erasing the post-Trump-bounce – as rates of expansion in activity, new work and employment all eased. The February drop in PMI is the largest in a year as Markit warns that “business optimism has mellowed.. and companies are becoming more cautious.”
- Of course that is the absolute opposite of what ISM Services reports – surging higher to a 15-month high at 57.6 (well above expectations)
“A warning clue rests with the business expectations index, which indicates that business optimism has mellowed back to its pre-election level, suggesting that companies are becoming more cautious with regard to spending and hiring.
- should the US encounter a recession in the next year or two, the most likely reaction by the Fed would be another $1 trillion in QE, delaying indefinitely any expectations for a return to a “normal” balance sheet.
- the Fed may have to turn to another round of QE to support the economy during the next recession.
- Don’t worry the fed is not forecasting any type of recession in the near future, wait isn’t this what they said in 2008.
- Foreign Minister Sergey Lavrov argued that contacts with officials and lawmakers are part of any ambassador’s duties. he said that the pressure on Sessions “strongly resembles a witch hunt or the times of McCarthyism, which we thought were long over in the United States as a civilized country.” In the 1950s, Sen. Joseph McCarthy led a hunt for purported communist infiltrators in the U.S. government, often involving unfounded accusations.
- Moments ago an increasingly frustrated President Trump took direct aim at the faux outrage of Senator Chuck Schumer who has relentlessly hammered his administration on alleged ties to Russia and an “election hacking” scandal that Trump has repeatedly dismissed as “fake news.”
- Tweeting out a picture of “fake tears” Schumer with Russian President Vladimir Putin, Trump called for an immediate investigation
- “We should start an immediate investigation into @SenSchumer and his ties to Russia and Putin. A total hypocrite!”
- According to Gateway Pundit, the photo of Schumer and Putin was originally published by the Associated Press in 2003 and shows the pair smiling, with coffee and Krispy Kreme doughnuts.
- Schumer responded with a tweet of his own:
- “Happily talk re: my contact w Mr. Putin & his associates, took place in ’03 in full view of press & public under oath. Would you &your team?”
- CNN has just accused the Russian Ambassador to the US, Sergey Kislyak, of being a spy., Sergey Kislyak, who has served as Russia’s Ambassador to the US since 2008, is apparently “one of Russia’s top spies and spy-recruiters in Washington.
- “How did CNN arrive at this conclusion you may wonder? They were told this by unnamed “current and former senior US government officials.” In other words, this is yet another example of a fake news story with ground-breaking allegations and zero evidence.
- Rep. Trey Gowdy (R-SC) appeared on Fox’s First 100 Days Thursday evening after a closed door briefing earlier in the day by FBI director James Comey concerning the agency’s investigation into claims of Russian interference in the 2016 presidential election.
I have never heard a Federal law enforcement agent give, with that degree of particularity and detail, an update on an inquiry. As you may recall, I was a federal prosecutor for 6 years, so I have talked to lots of FBI agents. He went so far beyond what any other administration official has ever done, whether it’s Eric Holder, Loretta Lynch, or his predecessor Robert Muller – they never gave us this level of detail and specificity. He bent over backwards.
- When pressed on whether or not FBI Director Comey revealed any new information in light of [former CIA Director] John Brennan and [former Director of National Intelligence] James Clapper finding no evidence of collusion between the Trump campaign and the Russians,
I will tell you this – to the extent people are relying on media reports, whether it’s the New York Times or the Washington Post, upon which to base their factual assertions, I would tell them to be very very careful. I’m not gonna say any more than that, other than to say that the person leading the investigation on behalf of the Untied States government, the head of the FBI, listen to what he has to say – don’t listen to anonymous sources who leak classified information which, oh by the way, is also against the law.
Between Jim Comey and a reporter from the New York Times, give me Jim Comey.
- Takeaways: Rep. Gowdy clearly heard a lot of things he liked during the closed door session, while deflated Democrat Rep. Adam Schiff did not. Second; FBI director Comey obviously discussed the dissemination of leaked classified information to the mainstream media – to the extent that Gowdy, an attorney and former prosecutor, is advising people who rely on the leaks to be “very, very careful” in doing so.
- The Obama administration is under investigation after it was revealed Thursday that billions of dollars of tax payer money was funneled into a shadowy Department of Justice slush fund and then distributed to a number of left wing activist groups.
- “Republicans on the House Judiciary Committee are now digging in as we learn this morning that President Obama’s Justice Department handed out billions of dollars in your tax payer money to liberal outsider groups, leaving Republicans fuming.”
- “The question really may be is this just a new form of the so called ‘walking around money’ we used to hear about. Money being dispersed for political reasons in inner cities to try and turn out the vote.”
- Mike Huckabee, the former Governor of Arkansas, said the revelations leave Obama in very hot water. If the House Judiciary Committee takes this inquiry all the way, criminal charges will be filed.
- So who were these pals of Obama’s that got their hands on the stolen billions?
- Some of the left wing activist organizations that benefitted from Obama’s secret DOJ slush fund include:
- National Urban League
- National Community Reinvestment Coalition
- National Council of La Raza – a Latino advocacy organization that advocates in favor of progressive policy changes including immigration reform, a path to citizenship for immigrants living in the country illegally, and reduced deportations.
- Never before have we seen a previous president and his team openly attempt to sabotage the next president, but that is precisely what is happening. Traditionally, most ex-presidents have chosen to move far away from Washington, but Barack Obama decided to purchase a home less than two miles from the White House, and many of his former staff members are either working directly with him or are working for his political organization Organizing for Action. And of particular concern is the fact that Valerie Jarrett has actually moved into Obama’s five million dollar home, which many are referring to as Obama’s “anti-Trump command center”.
Obama’s goal, according to a close family friend, is to oust Trump from the presidency either by forcing his resignation or through his impeachment.
And Obama is being aided in his political crusade by his longtime consigliere, Valerie Jarrett,
- From this anti-Trump nerve center, the Obamas and Valerie Jarrett will be directing an army of more than 30,000 activists that are committed to an organization known as Organizing for Action.
- Former Attorney General Eric Holder says that Barack Obama is rested and “ready to roll“…
“It’s coming. He’s coming,” Holder said, speaking to reporters at a briefing for the new group. “And he’s ready to roll.”
- The EU parliament has granted its president the right to cut the live broadcast of any hate speech or acts in the chamber.
- Press freedom organizations have raised concerns about censorship after Members of the European Parliament approved extraordinary measures to combat hate speech.
- MEPs granted the parliament’s president authority to pull the plug on live broadcasts of parliamentary debate in cases of racist speech or acts and to purge offending video or audio material from the online system.
- Critics say the rules are vaguely worded and could be manipulated or used as a tool of censorship.
- “This undermines the reliability of the Parliament’s archives at a moment where the suspicion of ‘fake news’ and manipulation threatens the credibility of the media and the politicians,” said Tom Weingaertner, president of the Brussels-based International Press Association.
- Malaysian authorities have deported the only North Korean detained in the killing of the half brother of North Korea’s leader, and issued an arrest warrant for another whose whereabouts are unknown
- Ri Jong Chol, who had been held since Feb. 17, was released because of a lack of evidence to charge him and was handed over to immigration officials for deportation because he didn’t have valid travel documents,
- Ukrainian forces shot down an OSCE drone as they were shelling Donetsk water filtering station (DFS), reports the DPR Operational Command’s representative.
The Operational Command reported that Kiev side shot the dron intentionally to prevent the OSCE SMM from inspecting the DFS area.
- Soros backed groups have organized a blockade of coal shipments. This is not a small shutdown by any means. 74,000 cargo cars have been prevented from crossing any lines between the south eastern people and the Poroshenko government. On average, an open railroad car holds 115 tons of coal. This amounts to approximately 8,117,000 tons of coal. That is a staggering amount. So staggering, as a matter of fact, that Kiev has claimed it is an emergency.
- The U.S. is not yet officially weighing in on this,
- Amid a recent spike in violence in eastern Ukraine, a new bill to be introduced in the US House of Representatives proposes dramatically cutting military aid to Kiev, including lethal weapons, as well as logistical and intelligence support.
- The bill is due to be heard in the House next week.
- Notably, the use of funds “to procure or transfer man-portable air defense systems” is prohibited in the 2017 bill.
- Just under seven years after abandoning the practice of military conscription for men, the Swedish government has announced it is imposing a new draft, starting in 2018, which will cover both men and women. They say the goal is 13,000 called up per year, with 4,000 of them receiving training.
- Officially, the Swedish government is blaming Russia for the imposition of a new draft, saying that Russia is posing a “growing threat” to the Baltic region, and leading to a “deteriorating security environment.” It is hard to see, however, how 4,000 additional troops for the nation will make a huge difference militarily, particularly when Sweden and Russia aren’t on particularly bad terms.
- Russia said Friday it was ready to help unify Libya and wanted to foster dialogue between rival authorities in Tripoli and factions in the east of the country.
- Russian Foreign Minister Sergei Lavrov held talks in Moscow with Fayez Seraj, the head of the U.N.-backed government in Tripoli, Thursday.
- The Russian Foreign Ministry said in a statement Friday that the talks had focused on how efforts to unite Libya could best be advanced. Moscow was ready to mediate and wanted to cooperate with all sides i
- the International Committee of the Red Cross condemns in the strongest possible terms the use of chemical weapons during fighting around the Iraqi city of Mosul”, it said in a statement.
- The agency’s statement did not say which side used the chemical agents that caused blisters, redness in the eyes, irritation, vomiting, and coughing.
- Turkey’s invasion of northern Syria focused a lot on seizing ISIS territory along the border. At this point, all the easily claimable ISIS cities are gone, and Turkey’s forces are increasingly bumping up against the forces of the Syrian government.
- In al-Bab, Turkish forces took the city, but Syrian troops took the immediate south, effectively cutting off any deeper Turksih advances. Clashes between Turkey-backed rebels erupted, but eventually both started moving eastward, toward the important, Kurdish-held city of Manbij.
- Today, Syria appears to have cut a deal with the Kurdish YPG and the Manbij Military Council to cut Turkey off at the pass, with Russia brokering an agreement in which some of the villages ringing Manbij will be handed over to the Syrian government’s control.