Thousands of UK households are underwater in their housing costs and are at risk of losing their homes. Job claims rise in April. Almost half of unemployed people cannot find jobs no matter how hard they look. Major department stores are closing and reporting a decline in sales. Blackrock warns housing is not going to recover and is “structurally unsound”. Russia dumps U.S. treasuries and purchases gold. Chinese bankers says yuan/renminbi will be the next reserve currency. According to a new report President Obama lied about not knowing about the secret VA waiting list. The U.S. and other countries are preparing for the strike into Syria. Corporate media pushing the agenda al-Qaeda is about to strike the U.S. Be prepared for a false flag event.
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Current News – 05.22.2014
- Having dropped to 297k last week (the first time below 300k since April 2006) as ‘full’ employment appears to have been reached but the 326k print this week (against expectations of 310k) was the biggest jump week-over-week since December 5th 2013. .
- A new poll suggests that finding employment, particularly for the long-term unemployed, continues to be a struggle for Americans. The poll, conducted by Harris Poll on behalf of Express Employment Professionals, asked questions of 1,500 unemployed adult Americans last month.
- 47 percent agree with the statement, “I’ve completely given up on looking for a job.”
- 60 percent say looking for work has been harder than expected.
- Additionally, 46 percent of the unemployed respondents reported not having had any job interviews in the prior month and 23 percent report their last interview was in 2012. 45 percent of respondents say the economy is “most responsible” for them being out of work,
- Sears said it would close 80 stores or more in the year ending January. The retailer operated 1,980 Sears and Kmart stores in the United States as of February.
- The company’s U.S. comparable store sales fell 1 percent in the quarter ended May 3.
- Comparable store sales declined 2.2 percent at Kmart stores in the United States, but rose 0.2 percent at Sears stores due to higher demand for home appliances and home products.
- Best Buy Co Inc reported a bigger-than-expected 1.3 percent fall in quarterly same-store sales in the United States, hurt by lower sales of mobile phones and higher competition from online retailers.
- But when they saw the final paperwork for their settlement, they found that Ocwen Financial Corp, the company that collected and processed their mortgage payments, had added an extra clause: they could not say or print or post anything negative about Ocwen, ever.
- existing home sales rose modestly but missed expectations. There is – simply put – no post-weather bounce.. and still NAR is blaming slow April sales being delayed due to Winter weather!!!! This is the worst start to a year since 2007.
- 7th of last 8 months missed expectations
- First-time buyers continue to represent fewer than one-third of all buyers at 29 percent in April, down from 30 percent in March; with all-cash buyers at 32%
- #2 Historically, sales for construction equipment manufacturer Caterpillar have been a pretty good indicator of where the global economy is heading next. Unfortunately, sales were down 13 percentlast month and have now experienced year over year declines for 17 months in a row.
- #3 During the first quarter of 2014, profits at office supply giant Staples fell by 43.5 percent.
- #4 Foot traffic at Wal-Mart stores fell by 1.4 percent during the first quarter of 2014. Analysts seem puzzled as to why Wal-Mart is “underperforming”. Perhaps it is because the U.S. middle class is being steadily destroyed and U.S. consumers are tapped out at this point.
- #5 It is being projected that Sears will soon close hundreds more stores and will eventually go out of business altogether…
- #7 According to official government numbers, everyone is unemployed in 20 percent of all American families.
- #8 As families struggle to pay their bills, many of them are increasingly turning to debt in order to make ends meet. Earlier this month we learned that total U.S. household debt has increased for three quarters in a row. And as I noted in one recent article, total consumer credit in the United States has increased by 22 percent over the past three years, and 56 percent of all Americans have “subprime credit” at this point.
- #9 Interest rates on student loans are scheduled to increase substantially on July 1st..
- #10 U.S. industrial production fell by 0.6 percent in April. This should not be happening if the economy truly was “recovering”.
- #11 Manufacturing job openings in the United States have declined for four months in a row.
- #12 Existing home sales have fallen for seven of the last eight months and seem to be repeating a pattern that we witnessed back in 2007 prior to the last financial crash.
- #13 In the real estate bubble market of Phoenix, sales in April were down 12 percent year over year, and active inventory was up 49 percent year over year. In other words, there are tons of homes on the market, but sales are going down.
- #14 The homeownership rate in the United States has dropped to the lowest level in 19 years.
- The head of the Lower House financial markets committee said that until Russia passes a law, any report to US tax authorities about a client accounts in Russian banks would be considered a violation of bank secrecy.
- MP Natalya Burykina (United Russia) added that bank employees who permit it could face criminal prosecution. She also said that if the United States applies sanctions to Russian banks for refusing to comply with the requirements of the Foreign Account Tax Compliance Act (FATCA), Russia would reciprocate with similar sanctions.
- Russia sold a record $26 billion, or 20% of its holdings.
- Russia Buys 900,000 Ounces Of Gold Worth $1.17 Billion In April
- Chinese banks have halted dollar transactions with most Afghan commercial banks.
- The impact on business had been felt immediately, he said.
- Busy day today… one of those days that reminds me how fast things are moving, and how quickly this version of our monetary system is being reset.
- Out of Beijing, Chinese financial magazine Caijing has reported that the vice president of China’s central bank Pan Gongsheng made some rather candid remarks about the dollar and renminbi at a recent monetary seminar.
- Over the past several years, the dollar has lost significant ground to other currencies, in its share of international trade transactions and national reserves settlement.
- This means that, more and more, people around the world are dealing in currencies other than US dollars when they trade with one another.
- central banks and national governments are starting to hold larger proportions of non-dollar currencies.
- Mr. Pan pointed out that China has signed bilateral currency swap agreements with central banks and governments from nearly two dozen countries, in an amount exceeding 2.5 trillion renminbi ($416 billion).
- this is just the tip of the iceberg. But Pan’s view is that the market is pushing for even greater internationalization of the renminbi.
- Not to mention, two banks in China and Russia signed deals yesterday to bypass the US dollar and pay each other in local currency.
- The West has just a small percentage of global population… and nearly all of its DEBT.
- There will be a rebalancing. To believe otherwise is absolutely foolish.
Obama bailout VA
- initial claims that President Obama first heard about the burgeoning Veterans Affairs scandal from the media, a new report states the administration was told about waiting list problems at medical facilities more than five years ago.
- According to the Washington Times, briefing documents obtained through a Freedom if Information Act request revealed that the issue of long waiting times and scheduling problems at veterans facilities was first mentioned just weeks after the 2008 presidential election, as transition teams helped fill in the incoming Obama-Biden administration.
- In the documents, officials from the Department of Veterans Affairs cautioned the incoming Obama team, stating that the waiting times being reported by veterans facilities around the country may not be accurate.
- However, the revised bill that makes its way to the House floor this morning doesn’t look much like the Freedom Act.
- This morning’s bill maintains and codifies a large-scale, unconstitutional domestic spying program.
- But while the original version of the Freedom Act allowed Sec. 215 of the Patriot Act to expire in June 2015, this morning’s bill extends the life of that controversial section for more than two years, through 2017
- The U.S. House of Representatives approved the Cyber Intelligence Sharing and Protection Act (“CISPA”) on April 18, 2014. CISPA would protect private-sector companies from liability stemming from the sharing of cyber threat information with the intelligence community. CISPA also would direct the Director of National Intelligence to establish procedures to permit the intelligence community to share cyber threat information with private-sector companies. Previous versions of CISPA were passed by the House in 2012 and 2013 but not approved by the Senate.
Meanwhile: Thai military imposes nationwide curfew. Thailand’s military imposed a nationwide curfew from 10 pm (1500 GMT) to 5 am (2200 GMT) on Thursday after overthrowing a caretaker government in a coup, an army spokesman said. Thai army is now banning gatherings of more than 5 people.
- Thailand’s army has temporarily suspended the constitution and imposed a curfew, also ordering TV and radio stations to broadcast only army material. The proclaimed military coup follows months of political stalemate and turmoil.
- U.S. officials have been unusually frank – and unusually public — in their assessment of the competence and effectiveness of the Nigerian military. The officials presented their analysis last Thursday, when they were questioned by lawmakers about whether the Nigerian military was capable of rescuing – or even locating – the more than 260 girls abducted by Boko Haram
- The United States has deployed dozens of troops to Chad to help locate more than 200 kidnapped schoolgirls in neighboring Nigeria by Boko Haram takfiri militants, President Barack Obama says.
- On Wednesday, Obama notified Congress that he had deployed 80 US military personnel to the African country.
- “These personnel will support the operation of intelligence, surveillance and reconnaissance aircraft for missions over northern Nigeria and the surrounding area,” Obama said in a letter to House Speaker John Boehner and to the Senate.
- According to senior American defense officials, the US military is using spy drones as well as manned aircraft over Nigeria to locate the girls who were abducted on the night of April 14th in a small town in north eastern Nigeria.
- The US has deployed high-flying drone, Global Hawk, and the manned MC-12 Liberty aircraft for the mission, a military official said on May 14.
- The official spoke on condition of anonymity because he was not authorized to talk to journalists.
- Thousands of people have taken to the streets in Yemen’s southern city of Aden to renew their calls for the independence of the southern parts of the country.
- They also shouted anti-Sana’a slogans, such as “We swear to God Sana’a will not govern us,” and “Twenty years of oppression and resistance.”
- China’s president called Tuesday for the creation of a new Asian structure for security cooperation based on a regional group that includes Russia and Iran and excludes the United States.
- “We need to innovate our security cooperation (and) establish new regional security cooperation architecture,” said Xi, speaking to an audience that included President Vladimir Putin of Russia and leaders of Central Asian countries.
- Russia is already preparing to lock in the Tehran regime with a deal to build not one but 8 (!) more nuclear power plants in the country.
- Russia’s Central Elections Commission (CEC) does not plan to send its representatives to oversee Ukraine’s presidential election due on Sunday, May 25.
- Acting President Aleksandr Turchinov says Kiev is ready to “clear eastern Ukraine of terrorists” in a final stage of their military operation, dubbed punitive by Moscow. This comes just after the parliament’s call for immediate troop withdrawal.
- “We have just held a meeting with [national] security forces, we are ready for a final stage of the anti-terrorist operation. In the coming time we are ready to mop up Donetsk and Lugansk regions from terrorists,” Ukraine’s coup-imposed president, Aleksandr Turchinov, declared on Wednesday.
- CAIRO – Libya’s military has been moving toward a renegade general.
- Leading Libyan commanders have pledged allegiance to Gen. Khalifa Hafter amid his attack on Al Qaida-aligned militias in the eastern city of Benghazi.
- The commanders included the heads of the air force, military intelligence and special forces, who expressed support for the counter-rebel offensive, called Operation Dignity.
- Russia and China block resolution to refer Syria to International Criminal Court for possible prosecution of war crimes.
- Syria has made no progress in relinquishing a last batch of chemical weapons it says is inaccessible due to fighting, making it increasingly likely it will miss a final deadline to destroy its toxic stockpile, Britain said on Thursday.
- The United States has increased its military presence in northern Jordan
- to prevent attacks from Syria. The sources said the Jordanian military, in a
- project financed by Washington, has built observation towers equipped with
- reconnaissance systems along the Syrian frontier.
- An advanced group of hackers recently attacked a US public utility, compromising its control system network without affecting the utility’s operations, according to the US Department of Homeland Security.
- DHS said the hacking group may have launched the latest attack via an internet portal that allowed workers to access the utility’s control systems. DHS added that the utility’s system employed a simple password mechanism that could have been compromised by “brute forcing,” when hackers digitally force their way into a system using a variety of password combinations.
- Reports say threats from the group have evolved in recent months
- Officials are studying the threats to determine strength of them
- Believed sites within the United States and Europe are being targeted
- Source of threats come from Arabian Peninsula, Pakistan and Syria
- Significant concern has been caused by a series of threats from al Qaeda-linked groups to attack America and Europe, it has been reported.
- Officials are thought to be studying the threats, which have evolved over the past six months and are determining the strength of al Qaeda in several different countries including Yemen, Pakistan and Syria, although none have been corroborated.
- U.S. officials had believed that the terrorist organisation was focusing on planning attacks outside of the United States due to the difficulty in breaching homeland security.