Wholesale trade sales decline this is one of the biggest drops since 2 years ago. The Housing market is doomed, everything has been engineered away from the big banks to non-banks and when the crisis hits they will take the fall. Fed governor says QE unwind to slow that’s why we are seeing the market react the way it is, faster unwind will fix the problem. Cohn leaves the White House Blankfein leaves Goldman, coincidence, I think not. 11 countries decided to sign the TPP without the US. They are doomed in the long run. Soon POTUS will ask the people if we really need the Fed, the IMF etc. The people will decide where we go next. IBOR is being pushed forward, those who were profiting and controlling these social media sites have been and continue to sell their shares, the writing is on the wall. Russian billionaire says that Soros funded the Steel dossier. Russian double agent found poisoned, looks like wet work. Trump says he will meet with Kim Jong Un, Lavrov says its a good thing, the corporate media doesn’t know what to do with this news. Q wants us to look at Snowden, Q’s messages point to the fact that Snowden and Assange might have the evidence to take down the deep state. There will be no deals for the deep state players. Q hints that Obama might run.
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Current News – 03.09.2018
- After 7 straight months of growth, wholesale sales tumbled in January – the worst drop since Jan 2016.
- A liquidity crisis in housing is on the way. Non-banks are at the center of the storm.
- The Brookings Institute says a Liquidity Crises in the Mortgage Market is on the way.
- Nonbanks originated about half of all mortgages in 2016, and 75% of mortgages insured by the FHA or VA. Both shares are much higher than those observed at any point in the 2000s. We describe in this paper how nonbank mortgage companies are vulnerable to liquidity pressures in both their loan origination and servicing activities, and we document that this sector in aggregate appears to have minimal resources to bring to bear in a stress scenario. We show how these exact same liquidity issues unfolded during the financial crisis, leading to the failure of many nonbank companies, requests for government assistance, and harm to consumers. The extremely high share of nonbank lenders in FHA and VA lending suggests that nonbank failures could be quite costly to the government, but this issue has received very little attention in the housing-reform debate.
- There is now considerable stress on Ginnie Mae operations from their nonbank counterparties:
“. . .Today almost two thirds of Ginnie Mae guaranteed securities are issued by independent mortgage banks. And independent mortgage bankers are using some of the most sophisticated financial engineering that this industry has ever seen. We are also seeing greater dependence on credit lines, securitization involving multiple players, and more frequent trading of servicing rights and all of these things have created a new and challenging environment for Ginnie Mae. . . . In other words, the risk is a lot higher and business models of our issuers are a lot more complex. Add in sharply higher annual volumes, and these risks are amplified many times over. . . . Also, we have depended on sheer luck. Luck that the economy does not fall into recession and increase mortgage delinquencies. Luck that our independent mortgage bankers remain able to access their lines of credit. And luck that nothing critical falls through the cracks. . . ”
Nonbank Share in $Billions
- Shocks Coming
- Nonbanks are vulnerable to macroeconomic shocks, rising interest rates, home price declines and job losses, often with a bare minimum down payment.
- This is happening while debt-to-income DTI ratios are on the rise and median FICO scores are dropping.
- This is hardly surprising given homes are not affordable.
- Failure is a Given
- Brookings provides the failure hierarchy, and failure is a given.
- To keep the latest bubble going, nonbanks kept lowering and lowering credit standards as home prices kept rising and rising.
- This is a recipe for disaster, and disaster is at hand.
- Looking Ahead
- Credit card delinquencies are priced as if they will be paid back. They won’t.
- As soon as recession hits, defaults and charge-offs will mount. In turn, this will reduce the amounts banks will be willing to lend.
- Subprime corporations who had been borrowing money quarter after quarter will find they are priced out of the market, unable to roll over their debt.
- In a fiat credit-based global setup, this is how the real world works.
- The Wall Street Journal reports that Lloyd Blankfein is preparing to step down as Goldman Sachs chief executive as soon as the end of the year, capping a more than 12-year run that would make him one of the longest-serving bosses on Wall Street.
- , one can’t help but wonder about the timeliness of Gary Cohn’s White House exit.
- So we have the first Fed Governor and member of the policy-setting FOMC who came out and said that the QE Unwind that began last October with baby steps isn’t fast enough. And because it’s so slow it may actually contribute to, rather than lower, the “financial imbalances.”
- Kansas City Fed President Esther George pointed at the growth of the economy, the tightness in the labor market, the additional support the economy will get from consumers and companies as they spend or invest the tax cuts, etc., etc. And despite this growth, “the stance of monetary policy remains quite accommodative,” she said.
- She cited the federal funds rate – the overnight interest rate the Fed targets. The Fed’s current target range is 1.25% to 1.50%, which is “well below estimates of its longer-run value of around 3%,” she said.
- The Fed would have to raise rates at least six more times of 25 basis points each, for a total of at least 1.5 percentage points, to bring the federal funds rate to around 3% and get back to neutral. If the Fed wanted to actually tighten after that, it would have to raise rates further.
- Under QE, the Fed acquired $1.7 trillion in Treasury securities and $1.78 trillion in mortgage-backed securities, for a total of about $3.5 trillion. After QE ended in October 2014, the Fed then maintained the levels by replacing maturing securities.
- But in October last year, it commenced the QE-Unwind and started to not replace some maturing securities. This has the effect of shrinking its balance sheet. Just like the Fed “tapered” QE by phasing it out over the course of a year, it is also ramping up the QE-Unwind over the course of a year.
- But the pace of the QE-Unwind has been too slow, according to George – and this may be destabilizing the financial markets:
- because the QE Unwind is so slow, it doesn’t really work as an unwind but continues to inflate asset prices, which would be the opposite of what the Fed wants to accomplish:
- it’s probably her job to launch the first trial balloon about speeding up the QE Unwind.
- Trade ministers from 11 Pacific Rim countries officially signed the agreement during a ceremony in Chile’s capital of Santiago on Thursday.
- The deal, now known as the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), drops Washington’s demands for protection of intellectual property and covers some 500 million people living in Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Gonna drop the Fed.
- Guess what THAT means??
are we going to have more freedom of speech on “private” public speech services or not? please answer this question
Track inside sales/divestitures. They know. Watch the sell-off/liquidity events.
George Soros sell off.
George Soros attacks ‘Social Media’
Zuckerberg sell off.
Ev Williams sell off.
These are just the big names who recently shifted.
- ” Russian billionaire Oleg Deripaska claims that Daniel Jones – a former FBI investigator, Feinstein staffer and now a Fusion GPS operative – told the Russian Oligarch’s lawyer in March, 2017 that Fusion GPS was funded by “a group of Silicon Valley billionaires and George Soros.”
- The Russian double agent poisoned along with his daughter in Salisbury, England last weekend is linked to former British Spy Christopher Steele, reports The Telegraph.
- Col Sergei Skripal – who is currently in intensive care after he and his daughter Yulia were poisoned with a suspected nerve agent – was recruited by MI6 while working at the British embassy in Estonia, according to Russian intelligence services.
- When Russia discovered that Skripal had allegedly been paid $100,000 by MI6 to expose undercover Russian intelligence agents in 2006 – the same year Russian double-agent Alexander Litvinenko was poisoned, he was sentenced to 13 years in prison. In 2010, however, Skripal was one of four prisoners released by Moscow in exchange for 10 US spies – after which he moved to the UK and befriended an employee of Christopher Steele
- Right on cue, the UK media went in to full-blown Russia hysteria following reports of a dead ex-Soviet spy on a park bench in the quiet provencal town Salisbury, England. This is not the first time a tabloid-style Russian spy media campaign has cascaded through the mainstream media.
- What’s generally left out of this latest mainstream conspiracy theory is that the latest dead ex-spy Sergey Skripal had a relationship with the shady British intelligence disinformation agent, Christopher Steele, the man who supplied the fabricate Trump Dossier which was funded by Hillary Clinton campaign.
- Skripal, was double agent for UK Secret Intelligence Services MI6 – meaning he was already a compromised individual on many fronts (and thus could be readily used for a number of purposes).
- “It is beyond doubt that he would have known Steele and Steele would have known him,” said Professor Anthony Glees, the director of the Centre for Security and Intelligence Studies at the University of Buckingham.
- Based on this connection, it’s more likely that Skripal could have been a player in a British intelligence operation to defame US President Trump.
- Moscow is prepared to cooperate with a British investigation into the death of ex-spy Sergey Skripal, the Russian foreign minister said. He dismissed rumors of the country’s involvement as “hysteria” and “propaganda.”
- Sergey Lavrov said that Russia is blamed for everything that goes wrong on the planet, and noted that no facts had been presented to suggest any Russian involvement in the poisoning of Sergey Skripal and his daughter.
- Update: President Trump has tweeted his first remarks since accepting the invitation to meet with North Korean leader Kim. Trump explained the background:
“Kim Jong Un talked about denuclearization with the South Korean Representatives, not just a freeze. Also, no missile testing by North Korea during this period of time. “
- And noted confidently that:
“Great progress being made but sanctions will remain until an agreement is reached. Meeting being planned!”
- Russian Foreign Minister Sergey Lavrov weighed in on the very recent announcement that President Trump has accepted the invitation for talks with North Korean leader Kim Jong-un sometime before the end of May this year.
We consider it to be a step in the right direction. Hopefully, the agreement will be implemented. Obviously it is necessary for normalizing the situation around the Korean peninsula… We also welcome the agreement reached by Seoul and Pyongyang to hold an inter-Korean summit in April… e UN Security Council.”
Corporate media doesn’t know what to do with this
The mainstream commentariat: Then: Trump is a madman who wants to lead us into war against North Korea. Now: Trump is a madman who wants to lead us towards peace with North Korea.
>This is not a game.
The dismantlement of the cabal and the non-terrestrials that they benefit is no laughing matter and must be taken seriously as there is more than human life itself at risk.
- Amid heightened tensions with Russia, a group of US Senators have called for strategic dialogue with Moscow…without delay
- They feel that dialogue is now “more urgent” following the unveiling of cutting-edge weapons systems by Russian President Vladimir Putin.
- A letter addressed to US Secretary of State Rex Tillerson and signed by Senators Edward J. Markey (D-MA), Jeff Merkley (D-OR), Dianne Feinstein (D-CA), and Bernie Sanders (I-VT) reads.
Which country does he really work for
Look at his family
His maternal grandfather, Edward J. Barrett, was a rear admiral in the U.S. Coast Guard who became a senior official with the FBI and was at the Pentagon in 2001 during the September 11 attacks.
father Lonnie was also an officer in the Coast Guard
mother Elizabeth is a clerk at the U.S. District Court for the District of Maryland
older sister, Jessica, was a lawyer at the Federal Judicial Center in Washington
Snowden used to infiltrate both the NSA and Wikileaks..
Snowden “op” way more successful as Snowden became a folk hero…
@Snowden 24 Twitter. A/B or C. We can take you anytime. Q
85% probable Snowden has the HRC tape, or information on 911
Good morning anons…wowser! happening! And so many new crumbs we may need a new plate!
Do we know what Snowdens choices are? Snowden a real folk hero so we need to be prepared to redpill around perhaps not what he seems..
Q strongly indicating that WE can push a narrative with DJT as well!!! (Have you forgotten how to play…) and would STRONGLY suggest we push health/pharma/food as that impacts us daily (also what I do so I may be jaded…) and so many lies and mistruth there it is sickening. We could get healthy as a society, save billions in health care costs, be happier (mood is related to diet/body regulation), etc etc etc within six months! All by just some slight diet changes or by supplementation…PLEASE put me in coach..
What is A/B or C for Snowden? Does Snowden have the HRC tape (YES)…is A/B or C a release of that tape (Likely)?
Q, please tell us it’s still NO DEALS! And that this people will face JUSTICE!! Please just say YES. They will. I pray so hard every night!
NO DEALS! We work for you. We listen to you. You pushed the IBOR and immediately POTUS began to comment/take action re: social media. PLAY THE GAME WITH US. Q
Q shows us we can change something, gives us a method to do so, and an outlet to have our words put into action. Those are the ‘rules’ to the ‘game’.
Rule: Any change we make must be done legally and constitutionally, thus we are using the power of the president and the government to put those changes through in a way that is legitimised.
Rule: For The People to make the change happen, we must ‘lobby’ the certain changes towards the pres/gov as this is the legitimate way for The People to have their voices SERVED by their government.
Rule: Q team can give us ‘ideas’ to which we can create a platform for change BUT they (Q team and Gov) cannot do it by themselves, as this method is not for The People. Only The People decide what’s best for The People.
Thus following these rules, we can effectively utilise the government to push The People’s wishes in a legal and righteous manner.
Play the game by the rules, we can’t lose if we play.
On day we may realise this Down Under.
When we’re done he’ll claim Kenyan citizenship as a way to escape.