Crushing the “liberal media’s” early excitement at the failure of Trump’s North Korea Summit (and Nobel Peace Prize) hopes, the president took a moment to gloat Friday morning at getting Kim back to the table, after receiving what he described as a “warm and productive” statement from North Korea less than a day after he canceled a planned summit that was supposed to signal the start of North Korea’s denuclearization.
Trump quickly pivoted to North Korea after discussing the Democrats’ strategy of “so obviously rooting against us” during the US’s ongoing talks with North Korea. Then he compared the Dems’ defense of North Korea to the party’s defense of of the FBI’s decision to plant a mole within the Trump campaign.
Read more at:Trump: : “Very Good” To Receive “Warm And Productive Statement From North Korea”
The acceleration of non-linear consequences will surprise the brainwashed, loving-their-servitude mainstream media.
Linear correlations are intuitive: if GDP declines 2% in the next recession, and employment declines 2%, we get it: the scale and size of the decline aligns. In a linear correlation, we’d expect sales to drop by about 2%, businesses closing their doors to increase by about 2%, profits to notch down by about 2%, lending contracts by around 2% and so on.
But the effects of the next recession won’t be linear–they will be non-linear, and far more devastating than whatever modest GDP decline is registered. To paraphrase William Gibson’s insightful observation that “The future is already here — it’s just not very evenly distributed”: the recession is already here, it’s just not evenly distributed– and its effects will be enormously asymmetric.
Read more at:The Next Recession Will Be Devastatingly Non-Linear
It is a matter of personal interest that it was my uncle, Iain Macleod, who invented the term stagflation shortly before he was appointed shadow chancellor in 1965. It is no longer used in its original context. From Hansard (the official record of parliamentary debates) 17 November that year:
We now have the worst of both worlds —not just inflation on the one side or stagnation on the other, but both of them together. We have a sort of “stagflation” situation and history in modern terms is indeed being made.
The inflation that Iain was referring to was of wages, which were averaging an increase of 6.2%, and rising, and stagnation in production, which had declined from an index of 134 to 131. It was this divergence that gave him the opportunity to invent this portmanteau word. It has now passed into more common use to describe an economy that fails to respond to the stimulus of monetary inflation.
Read more at:It’s Not Stagflation… It’s Inflationary Impoverishment
Subprime is calling.
In the first quarter, the delinquency rate on credit-card loan balances at commercial banks other than the largest 100 – so at the 4,788 smaller banks in the US – spiked in to 5.9%. This exceeds the peak during the Financial Crisis. The credit-card charge-off rate at these banks spiked to 8%. This is approaching the peak during the Financial Crisis.
A sobering set of numbers the Federal Reserve Board of Governors released this afternoon.
But overall, across all commercial banks, including the largest banks with the largest credit-card loan balances outstanding, the delinquency rate was 2.54% (not seasonally adjusted). This overall rate was pushed down by the largest 100 banks, whose combined delinquency rate in Q1 was 2.48%.
Read more at:Credit Card Delinquencies Spike Past Financial-Crisis Peak at the 4,788 Smaller US Banks
Florida circuit court Judge Raag Singhal ruled the Broward County Supervisor of Elections Office violated state and federal law Friday, after the office destroyed ballots from a 2016 House race for Democratic Rep. Debbie Wasserman Schultz’s seat.
The elections office may also be on the hook for $200,000 in attorneys fees for Tim Canova, who brought a lawsuit against them after he lost to Wasserman Schultz in 2016, the Sun Sentinel reported. Canova lost by a final tally of 28,809 to 21,907 in a Democratic primary.
Canova requested a closer look at the paper ballots from the race to check for anomalies in March 2017, but Elections Supervisor Brenda Snipes did not respond to his requests so he took her to court, according to the Sun Sentinel. Snipes had signed off on the destruction of the ballots in September 2017.
Read more at:Rigged? Circuit Judge Says Ballots Were Illegally Destroyed In Wasserman Schultz’ House Race
It is often said that “other-izing” people overall can be dangerous and other-izing your enemies specifically can be tactically detrimental. For one, it can lead to a false sense of superiority over those people as you assert some kind of imagined genetic advantage. It can also lead to dangerous generalizations of vast groups as you categorize and pigeonhole millions as being exactly the same when this is rationally impossible. However, other-izing is perhaps the only option when faced with a very particular type of person embracing a very particular brand of ideology; other-izing can become a matter of survival. I am of course talking about globalists.
Read more at: Global Elitists Are Not Human
Just days after President Trump announced the US withdrawal from the 2015 Iran nuclear deal brokered under Obama, the U.N.’s top nuclear inspector has abruptly and unexpectedly resigned after a tense week in which Iran’s facilities have again become the focus of the organization’s mission.
Veteran nuclear weapons inspector Tero Varjoranta announced his resignation as chief inspector of the International Atomic Energy Agency (IAEA) effective May 11th but didn’t provide explanation, only citing “confidential personal matters” according to the AP.
Tero Varjorantadeputy (pictured furthest left), director general of the IAEA and head of its Department of Safeguards, sitting next to IAEA Director General Yukiya Amano. Image source: IAEA
Varjoranta, a Finn, served for five years as a deputy director general of the IAEA and head of its Department of Safeguards, which verifies countries’ compliance with the nuclear Non-Proliferation Treaty.
Read more at:UN Chief Nuclear Inspector Abruptly Resigns As Iran FM Embarks On Global Tour To Salvage Deal