The retail crisis continues, it seems we are seeing a repeat of last year, Macy’s is now closing 30 more stores after this holiday season, more stores on the way. Rents seem to be plunging in those cities where the real estate was artificially pumped up. The central bank is trapped, they cannot recover and economy that is completely fake. The entire system is ripping itself apart and the economy is about to come down. More information is exposed which shows the FBI was hiding evidence of Clinton’s email server. There was a fire at Clinton’s residents house. Macron is now putting into place laws to censor certain pieces of news. North Korea calls South Korea on the hotline. US pushes to stop funding the Palestinians. Trump tweets support for the Iranian people. The entire protest is falling apart it is not growing in size it is actually shrinking. The cabal didn’t understand how the Iranians were going to react and they miscalculated. This will push the cabal into pushing the next event.
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Current News – 01.03.2018
- Macy’s is planning to announce another round of store closures, the company told Business Insider.
- 30 stores more stores will be closing, the company confirmed
- After the upcoming round of closures, Macy’s will have fewer than 600 stores, down from nearly 800 in 2014.
- But rents tank in the most expensive metros. Even Seattle cools off, awash in new supply.
- In New York City, the second most expensive major rental market in the US, the median asking rent for one-bedroom apartments fell 3.7% from a year ago to $2,870. For two-bedrooms, it fell 5.0% to $3,230. Since the peak in March 2016, asking rents have plunged respectively 14.8% and 18.8%. A modicum of relief for renters, a headache for landlords, a sign that new supply from the construction boom is having an effect, and proof that even in New York, you can inflate rents only so far.
- The data is based on asking rents in multifamily apartment buildings, gleaned from “over one million active listings”
- The data includes asking rents from new construction. In many cities, high-rise apartment and condo buildings have sprouted like mushrooms. These units are now showing up in large numbers on the rental market, and landlords need to fill them – hence more pressure on rents.
- In San Francisco, the most expensive major rental market in the US, the median asking rent in November for one-bedroom apartments, at $3,400, inched up 1.5% year-over-year, but is down 7.4% from the peak in October 2015. The median asking rent for two-bedroom apartments, at $4,380, fell 2.9% year-over-year, and is down 12.4% from the peak.
- In Honolulu, the 11th most expensive rental market in the US, one-bedroom rents, while flat year-over-year, have plunged 20.2% from their peak in March 2015. Two-bedrooms fell 7.1% year-over-year and are down 24.7% from their peak in January 2015.
- In Chicago, the 12th most expensive rental market — down from 8th place a year ago — the median asking rent for a one-bedroom dropped 15.6% year-over-year to $1,570, and for a two-bedroom 13.1% to $2,180. They’ve fallen by 23.4% and 17.7% from their peaks in September 2015.
- Central banks are now trapped
- In a nutshell, central banks are promising to “normalize” their monetary policy extremes in 2018. but there’s a problem: you can’t “normalize” markets that are now entirely dependent on extremes of monetary stimulus. Attempts to “normalize” will break the markets and the financial system.
- In response to the Global Financial Crisis (GFC) of 2008, central banks lowered interest rates to near-zero to boost private-sector lending, and increased liquidity to enable private-sector lenders and borrowers to refinance existing debt and generate new credit.
- They also bought assets: government bonds, corporate bonds and in some cases, stocks via ETFs (exchange traded funds).
- The goal here was to prop up the collateral underpinning all the debt. If liquidity dried up, consumers and enterprises would default, handing lenders catastrophic losses, as the crisis had crushed the market value of the collateral that lenders would have to sell to recoup their losses.
- And so central banks pursued heretofore unprecedented policies aimed at goosing private-sector lending and borrowing while boosting the markets for stocks, bonds and real estate—the collateral that supported all the debt that was at risk of default.
- All this low-cost and easily available credit, coupled with the central banks’ public messages that they would “do whatever it takes” to restore credit mechanisms and reflate the private-sector markets for stocks, bonds and real estate, worked: credit expanded and markets recovered, and then soared to new highs.
- By lowering interest rates and bond yields to near-zero, central banks deprived institutional owners who rely on stable, high-yielding safe investment income—insurers, pension funds, individual retirement accounts, and so on—of exactly what they need: safe, stable, high-yield returns.
- In this “do whatever it takes” environment, the only way to earn a high return is to buy risk assets—assets such as stocks and junk bonds that are intrinsically riskier than Treasury bonds and other low-risk investments.
- Central banks are now trapped. If they raise rates to provide low-risk, high-yield returns to institutional owners, they will stifle the “recovery” and the asset bubbles that are dependent on unlimited liquidity and super-low interest rates.
- But if they keep yields low, the only way institutional investors can earn the gains they need to survive is to pile into risk assets and hope the current bubbles will loft higher.
- This traps the central banks in a strategy of pushing risk assets—already at nose-bleed valuations—ever higher, as any decline would crush the value of the collateral underpinning the titanic mountain of debt the system has created in the past eight years and hand institutional owners losses rather than gains.
- This conundrum has pushed the central banks into yet another policy extreme: to mask the rising systemic risk created by asset bubbles, central banks have taken to suppressing measures of volatility—measures than in previous eras would reflect the rising risks of extreme asset bubbles deflating.
- Can central banks raise rates without popping the bubbles the system needs to remain solvent? Or can they keep yields near zero and keep pushing asset valuations higher for years or decades to come?
- Or is this all much more likely to end in a massive financial/currency crisis? One characterized by default and liquidation of America’s high-fixed-cost, heavily indebted households and enterprises that have only stayed afloat by borrowing more money?
- This vast expansion of stimulus in year Eight of “expansion/recovery” is an unprecedented extreme: does anyone seriously believe you can stop this flood and markets will “normalize”?
- PBOC called for rectifying irregularities in electricity use of some bitcoin mining fields, and during a closed-door meeting, discussed limiting the power use of bitcoin mining.
- the People’s Bank of China can’t directly regulate bitcoin miners’ power usage, it can ask local authorities to do so, the central bank told members of the Leading Group of Beijing Internet Financial Risks Remediation at a meeting at the end of 2017, the source said.
- As a result, China’s monetary authority can tell local governments to regulate the power usage of bitcoin miners to gradually reduce the scale of their production. To many this was an implicit warning that China is preparing to clamp down on, and regulate, bitcoin mining in China.
- While China is one of the world’s biggest sources of bitcoin mining, the intensive use of computers for bitcoin mining has boosted demand for electricity, leading to price spikes and increases.
- Republicans on key congressional committees say they have uncovered new irregularities and contradictions inside the FBI’s probe of Hillary Clinton’s email server.
“Hillary Clinton obviously benefited from people taking actions to ensure she wasn’t held accountable.”
- In what appears to be clear evidence confirming previous fears of favoritism and prejudice within the FBI, for the first time, investigators say they have secured written evidence that the FBI believed there was evidence that some laws were broken when the former secretary of State and her top aides transmitted classified information through her insecure private email server.
That evidence includes passages in FBI documents stating the “sheer volume” of classified information that flowed through Clinton’s insecure emails was proof of criminality as well as an admission of false statements by one key witness in the case, the investigators said.
The name of the witness is redacted from the FBI documents but lawmakers said he was an employee of a computer firm that helped maintain her personal server after she left office as America’s top diplomat and who belatedly admitted he had permanently erased an archive of her messages in 2015 after they had been subpoenaed by Congress.
The investigators also confirmed that the FBI began drafting a statement exonerating Clinton of any crimes while evidence responsive to subpoenas was still outstanding and before agents had interviewed more than a dozen key witnesses.
Those witnesses included Clinton and the computer firm employee who permanently erased her email archives just days after the emails were subpoenaed by Congress, the investigators said.
- Following Germany’s (and Brussels) lead to tyrannical repression of any free speech in Europe, French President Macron said on Wednesday he would overhaul French media legislation this year to fight the spread of “fake news.”
“If we want to protect liberal democracies, we must have strong legislation,” Macron told a news conference.
- Macron said the legislation would concern social media platforms, especially during election periods, and deeply change the role of France’s media watchdog CSA.
- One can’t help but read Macron’s quote and think Orwellian utopia…
- the North demonstrated an eagerness to directly thaw relations with its Southern neighbor, when Pyongyang was first to use a border hotline with the South which resumed operation after an exchange of messages between Pyongyang and Seoul. Officials reportedly spoke for 20 minutes to make sure that the line works.
- The decision to reopen talks effectively cuts the US out of the negotiations
- China and Russia have for months been pushing the US and the North to sit down for talks. They’ve even proposed a possible roadmap to peace that would involve the US and South Korea suspending their military exercises on the Korean peninsula in exchange for the North freezing its nuclear program.
- the cabal cannot let this happen
- A spokesperson for Palestinian leader Mahmoud Abbas has said that Jerusalem is not for sale, responding to a threat by US President Donald Trump to cut annual aid to the Palestinian Authority.The threat from Trump came in a tweet on Tuesday, which said the US could cut its $300 million annual aid to Palestinians because it gets “no appreciation or respect” in return.“They don’t even want to negotiate a long overdue peace treaty with Israel… with the Palestinians no longer willing to talk peace, why should we make any of these massive future payments to them?” it read.“Jerusalem is not for sale, neither for gold nor for silver,” Nabil Abu Rudainah said on Wednesday. He added: “If the United States is keen about peace and about its interests, it must abide by that.” Hanan Ashrawi, a senior executive of the Palestine Liberation Organization, said that Palestinians “will not be blackmailed.”
- Update: With somewhat fascinating timing, perhaps nudged by The CIA, President Trump just tweeted his support for the people of Iran:
Such respect for the people of Iran as they try to take back their corrupt government. You will see great support from the United States at the appropriate time!
— Donald J. Trump (@realDonaldTrump) January 3, 2018
Marchers voiced support for Khamenei, chanting, “The blood in our veins is a gift to our leader,” and, “We will not leave our leader alone.” They accused the United States, Israel and Britain of inciting the unrest and shouted, “The seditionist rioters should be executed!”
- Hours earlier, Khamenei had accused Iran’s foes of fomenting the protests,
- U.N. Ambassador Nikki Haley made a statement on the uprising in Iran on Tuesday, giving strong support to the “brave people of Iran” and dismissing as “complete nonsense” the Iranian regime’s excuses for a crackdown.
- “Nowhere is the urgency of peace, security, and freedom being more tested than in Iran,” Haley declared:
- “The international community has a role to play on this,” Haley urged. “The freedoms that are enshrined in the United Nations charter are under attack in Iran. Dozens have already been killed. Hundreds have been arrested.”
- Iranian President Hassan Rouhani said the US has no moral right to act as if defending the rights of Iranians because Washington itself calls them terrorists.Rouhani’s sentiments are likely to be shared by most Iranians,The Iranian public, including those protesting in the streets, see the US and Trump personally in a very negative light, and don’t believe Washington would truly defend their interests,Washington is also “not trustworthy” in the eyes of Iranians as a result of US policies in the Middle East, which have already caused war and devastation in Iraq, as well as destabilizing neighboring Syria. Any kind of interference by the American administration, even in the form of tweets, “is not welcome in the whole region,Another key factor precluding Trump from influencing the public mood in Iran to any significant extent is Washington’s close ties with Saudi Arabia and Israel.The US knows that it cannot topple the Iranian government with protests that are incomparably smaller than the riots that engulfed Iran following the 2009 presidential elections, Khoshcheshm said. He added that western media outlets – “are trying hard… to politicize” and exaggerate the issue.
- Shamkhani also pointed the finger at foreign powers for interfering in the country’s domestic affairs and stirring unrest, saying that a proxy war was taking place against Iran by Saudi Arabia, Israel, the United States and the United Kingdom. “They are trying to collapse the nation from within,”
- The US Ambassador to the United Nations called on the international community to speak out on the unfolding protests in Iran, saying the US would seek emergency UN talks on the situation.
- “The people of Iran are crying out for freedom,” Nikki Haley said at a news conference. “All freedom-loving people must stand with their cause.”
- She said the United States would be seeking emergency sessions of the UN Security Council and the Geneva-based UN Human Rights Commission in the coming days.
Protest and the rioting is fading
- The riots and protests in Iran continue for a 6th day. While “western” media claim that the protests are growing, there is no evidence for that in the various videos that appear online. The legitimate protests over price rises, failing private banks and against the new neoliberal austerity budget of President Rohani were hijacked early on by rioting gangs. These are obviously coordinated from the outside of the country through various internet applications, especially Telegram and Instagram:
Amad News, a channel on Telegram, appears to have played a pivotal role in the wave of protests. Reportedly administered by exiled journalist Rohollah Zam — a son of a senior Reformist cleric said to have escaped the country after being accused of having links with foreign intelligence agencies ...
- Blocking the specific control channels proved to be insufficient:
there were calls for protests online and on foreign-based Persian-language satellite channels.
- The original protests over economic issues seem to have died down after President Rouhani confirmed the right to protest, conceded economic problems and promised to take them on. Indeed there are only few new videos of genuine protest marches but an avalanche of videos of rioting, arson and tussling with police forces. The size of the protests are in a few hundred people or less. Counter demonstrations, expressing loyalty for the republic (not noted in “western” media), are bigger in size than the anti-government protests. Since December 28 protests and riots have occurred in a total of 66 cities by now, but only about 30 have been taking place each night. This might point to some planning behind the events. A daily switching of venues might be intended to prevent police preparations.
- The groups of rioters are between 30 and 80 people in size
- The same faking of pictures of large demonstrations and “evidence” of government brutality that we have seen with regard to the war on Syria is taking place with Iran.
- The usual neoconservatives in the U.S. media are arguing for “more help” for the “Iranian people”. The help they want to offer is designed to worsen their economic situation.
- The rioting at the current level is in no way endangering the Iranian republic. Should some rioters acquire weapons the intensity might change a bit.
- Update (Jan 3, 01:00am EST)
- Eleven cities is less than half than the thirty cities with protests/riots that were counted yesterday.
- The police in iran do act the same in other countries, they are talking to the people, they want to work it out, they are not attacking people, the agenda to get something started is not working in Iran just like it didn’t work in China or Russia
- London Paul was on Rogue Money and says the United States, has for decades, tried to enact regime change in Iran, but has been unsuccessful so far. Since overthrow of Iran has been elusive both militarily and economically, Paul speculates the Deep State (Cabal, C.I.A., etc) is trying to overthrown Iran with a type of homegrown uprising.
- Paul says that what is at stake is a blooming economic powerhouse relationship between China, Russia and Iran.
- Paul says that yes, there are some aspects of truth to the protests, but he says that the cabal will not be able to succeed in overthrowing the Iranian government.
- Paul says that there is even cabal produced MSM propaganda showing three year old videos of protests in Bahrain, not Iran like is being reported.
- A plan to expand the Russian naval facility at the Syrian port of Tartus has been formally approved in Moscow.