The housing crisis in Australia is being exposed, it is much worse than everyone thinks. The economy is not improving, real wages are now stagnant for 2 months in a row, we are at the end of the central banking system and everything will begin to breakdown very rapidly. Mnuchin says the yield curve does not indicate a recession, soon it will be replaced with the new curve which has been manipulated to convince everyone that there is no recession. David Stockman says its time to blame the Fed for our problems not trade. Yes it is time to blame the central banks, it is time to break their hold on the system. Paul Ryan says he might arrest Lisa Page for contempt of congress. Strzok gave testimony, this is a waste of time, without the unredacted report you cannot have a real hearing. Trump declares victory over NATO, Macron stick up for Trump and says he did not threaten to leave NATO. Russian official Zakharova says that there is ample evidence that the deep state has been supporting the Taliban. Trump receives letter from Kim Jong Un and Moon Jae In says criticism as a ploy. Large IS convoy trying to escape from Syria and heading into Iraq. Syria says once Idlib is liberated from the paid mercenary terrorist group it is game over. Trump says he is waiting for a call from Iran to make a deal, he said it will be coming. Enjoy the show.
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Current News – 07.12.2018
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- Australia’s housing market is getting rattled. The mortgage industry is in turmoil. Banks are battered by incessant revelations of misconduct. Home prices in the Sydney and Melbourne metros, after surging to an astounding degree, are deflating.
- Lindsay David, of LF Economics in Sydney — who has long played a role in exposing misconduct in Australia’s banking system including, in early 2016, by calling for a Royal Commission investigation into the mortgage sector
- 1. Sharper drop in selling prices than shown in official data:
- According to CoreLogic (the official data), home prices in Sydney fell 4.6% in June compared to a year ago, with house prices down 6.2%, and prices of condos down 0.7%. In the most expensive quartile, prices fell 7.3%.
- But Lindsay David writes: “It is our view based on all the resources made available that house prices in the Sydney area have broadly fallen somewhere between 11% and 15% over the comparison period.”
- Lindsay David, from his perch at LF Economics, concludes the note:
We stand with the view the Sydney housing bubble appears to have been pricked, and we are confident that house prices will continue to fall at a moderate to fast pace over the coming months. This should eventually have knock-on effects to the banking system and its stability and ability to maintain profits.
Furthermore, we can expect the residential construction sector to feel the pressure as more developers come to the realization that there is now no real profit to be made in a falling market. In a feedback-loop economy so reliant on rising land prices, the risk of eventual job losses filtering through the Sydney economy appears to be on the increase which could easily spill into the broader Australian economy.
- real average hourly earnings growth has subsided, that hope has suddenly crashed back to reality…
- So much for those ‘soft’ survey questions!
- In fact for the last two months, real average hourly earnings growth has been unchanged on a year-over-year basis.
- “We need to embrace the fact that we don’t know what the next bad outcome is. We need to think outside the box,” John Williams, the newly appointed New York Federal Reserve president, said at a Town Hall meeting Wednesday.
- On Tuesday night Trump-hating FBI lawyer Lisa Page and her legal counsel announced she will not appear before the House Judiciary Committee on Wednesday despite a Congressional subpoena.
- The House Judiciary Committee subpoenaed Lisa Page to appear in a closed-door interview Wednesday.
- But just like every other Deep State operative, Lisa Page believes she’s above the law.
- President Donald J. Trump appeared to have met his key objectives for the Brussels NATO summit Thursday, revealing that alliance members would “substantially” increase their commitments, and much faster than previously planned.
- Instead of two per cent minimum all NATO members had agreed in 2014 to pay to defence, they should actually be working towards four per cent.
- Some news agencies reported the U.S. president had threatened to pull out of the 70-year-old alliance over frustration with member states’ lack of commitment to agreed goals including spending 2 percent of GDP on defense.
- But Macron said no direct threat was issued. NATO sources said that while Trump warned that the U.S. could “go it alone” if others didn’t step up, it fell short of a direct threat to formally withdraw.
- Zakharova noted that it was the Pentagon’s way of hidings its own “sponsorship of the Taliban” in Afghanistan, adding that there is evidence of the US supporting the terrorist group.The spokeswoman explained that reports by US officials indicated that large portions of US military aid to Kabul had been stolen. Weapons written off as losses could be used to equip “the whole army,” Zakharova pointed out.
- North Korean officials reportedly did not show up Thursday at a scheduled meeting with U.S. officials to discuss returning the remains of American soldiers, and instead suggested talking with United Nations military leaders about the issue.
- North Korea asked the United Nations Command to hold “general-level military talks” about returning the remains of American troops killed in the Korean War.
- North Korea “wants a U.S. general to appear at the table to quickly finalize the repatriation issue.”
- If the U.S. agrees to the meeting, it would mark the first time that North Korea has engaged in military talks with the United Nations military body since 2009.
- Kim Jong Un has sent Trump a letter
- Trump tweeted out a copy of the letter Thursday shortly after landing in London, calling it “a very nice note from Chairman Kim of North Korea. Great progress being made!” In the letter, Kim said that the “strong will” of himself and Trump will lead to a “new future” between the DPRK and the US
Here’s the full text:
H.E. Donald J. Trump
United States of America
Your Excellency Mr. President,
The significant first meeting with Your Excellency and the joint statement that we signed together in Singapore 24 days ago was indeed the start of a meaningful journey.
I deeply appreciate the energetic and extraordinary efforts made by Your Excellency Mr. President for the improvement of relations between the two countries and the faithful implementation of the joint statement.
I firmly believe that the strong will, sincere efforts and unique approach of myself and Your Excellency Mr. President aimed at opening up a new future between the DPRK and the U.S. will surely come to fruition.
Wishing that the invariable trust and confidence in Your Excellency Mr. President will be further strengthened in the future process of taking practical actions, I extend my conviction that the epochal progress in promoting the DPRK-U.S. relations will bring our next meeting forward.
Kim Jong Un
Chairman of the State Affairs Commission
Democratic People’s Republic of Korea
Pyongyang, July 6, 2018
- South Korean President Moon Jae-in said on Thursday that North Korea’s criticism of the United States after recent talks on denuclearisation was part of its strategy and negotiations between them are on the “right track”.
- A military source revealed that Iraqi forces are on high alert over rumors that a large convoy of Islamic State militants entered from Syria. They are trying to make their way out of Syria.
- A senior Syrian officer has said that government troops now are able to liberate the province, which remains the last one mostly out of the government’s control.
- “The army now has the power to liberate the province of Idlib. This will become a key to the end of the ongoing war t
- Idlib-based terrorist forces have been weakened by infightings,
- As the pro-government forces have been stepping up gains in the south, Idlib, a province in northwestern Syria, remains the last rebel stronghold.
- Idlib is a strategically important city, as it shares a border with Turkey and neighbors the province of Latakia, Idlib, the provincial capital, is located near a highway linking Syria’s second-largest city, Aleppo, to Damascus.
- Israeli Prime Minister Benjamin Netanyahu told Russia on Wednesday that Israel would not seek to topple its ally, Syrian President Bashar al-Assad, but Moscow should encourage Iranian forces to quit Syria, a senior Israeli official said.
- U.S. President Donald Trump has said he expects to receive a call from Iranian officials in the future with an offer to alleviate Washington’s security concerns.Speaking at a press conference during the NATO summit in Brussels on July 12, Trump said Tehran was treating the United States “with much more respect right now than they did in the past.”“I know they’re having a lot of problems and their economy is collapsing,” Trump said. “At a certain point they’re going to call me. They’re going to say, ‘Let’s make a deal.’ They’re feeling a lot of pain right now.”