The Brexit that May is signing off on is not what the people want. The US will not be able to trade with the UK if this is done. The Deficit has exploded and the interest payment on the debt is continually rising. The tax receipts flowing into the government will not be able to sustain the high payments. Paulsen warns that the indicator has predicted a recession each time and what is happening right now happened prior to the last 6 of 7 recessions. The narrative is being shaped by the MSM and the Fed, the latest the tariffs will create problems in the economy. The SEC is looking into why Facebook didn’t report the data breach with Cambridge. Strzok was testifying in front of the House and he couldn’t remember anything that had to do with Clinton. Q said they were going to have to force the issue in regards to declassifying the IG report, it looks like it has just begun. Saudi Arabia is now pardoning all troops in regards to the Yemen war. US says it will help stabilize the areas where the US pushed out the IS. Iranian aid has said that if Damascus and Iraq ask them to leave the country they will do so. The hammer is falling and the plan is on track, more to come this month.
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Current News – 07.13.2018
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- The long-awaited white paper does not respect the referendum vote,
- Meanwhile, the Prime Minister was accused by Leave Means Leave of having “completely ignored the concerns raised at Chequers” over her super-soft Brexit proposals, despite “resignation after resignation, humiliating polls and a damning public indictment”.
- The pro-sovereignty campaign, which advocates Britain exit the Single Market and its Free Movement regime cleanly, said in a statement: “This white paper is a complete capitulation and our government has become a national embarrassment.
- The white paper has received welcome in some quarters, however, with director of the liberal, George Soros-funded Open Europe think tank Henry Newman penning an open letter pleading with Brussels to take seriously the “fair and reasonable” proposals.
- Trump is 100% accurate. If the U.K. keeps the pre-existing trade pact with the EU, and essentially stays economically attached to the EU through acquiescence to the EU trade bloc, then any bilateral trade deal between the U.S. and the U.K. is essentially impossible. Duh.
- The EU doesn’t allow member nations to conduct their own trade negotiations. So, any agreement that keeps the U.K attached to the EU economically means any trade deal with the U.K. would be a trade deal with the EU; and the EU trade positions are adverse to the ongoing economic interests of the United States.
- any trade deal with the U.K. will be impossible under the current ‘Brexit’ terms that Prime Minister Theresa May has consigned herself to accept. Trump warned Prime Minister May of this likelihood. Mrs. May then screwed herself and her nation’s economic interests by following the path of appeasement with the European Union.
- The US is starting to admit that it has a spending problem.
- According to the latest Monthly Treasury Statement, in June, the US collected $316BN in receipts – consisting of $162BN in individual income tax, $94BN in social security and payroll tax, $3BN in corporate tax and $22BN in other taxes and duties- a drop of 6.6% from the $338.7BN collected last June and a reversal from the recent increasing trend…
- But while out of control government spending is clearly a concern, an even bigger problem is what happens to not only the US debt, which recently surpassed $21 trillion, but to the interest on that debt, in a time of rising interest rates.
- As the following chart shows, US government Interest Payments are already rising rapidly, and just hit an all time high in Q1 2018
- Meanwhile, as rates blow out, US debt is expected to keep rising, and somehow hit $30 trillion by 2028…
- .. without launching a debt crisis in the process.
- For any trade agreement to be truly free and likewise ensure the sovereignty of the United States and the other willing nation involved, then it must be free of any foreign oversight in which both parties are subordinate to governing rules and authority.
- Real free trade necessitates freedom from the global governance structures of the WTO, and must not seek the economic merger of the countries involved. Otherwise, the result is convergence — eroding and replacing national sovereignty and independence with eventual world government, rather than open trade between two free and sovereign nations.
- “This less-followed indicator has a good enough relationship with recession risk during the last 50 years that it should not be ignored,” warned Jim Paulsen, Leuthold’s chief investment strategist, in a note to clients this week.
- Having warned last week that “it’s been too quiet, for too long,” Paulsen now sees the potential catalyst for the market’s next move as low-rated investment-grade credit spreads blow out beyond an historically crucial level.
- for the first time since just prior to the 2007-2009 recession, premiums on the lowest-rated tranche of investment-grade U.S. corporate bonds have risen to 2 percent after being below that level, according to data compiled by the Minneapolis-based research group.
- The analysis looks at the gap in yields between corporate debt rated Baa by Moody’s Investors Service and those on 10-year Treasuries.
- Of course, this trend fits with the recession-imminent warnings coming from the Treasury market…
- We should probably just ignore this that ‘never-been-wrong’ indicator because this time is different
- A Federal Reserve Bank of St. Louis economist warned that President Donald Trump’s tariffs on Chinese goods may backfire, causing job cuts and plant shutdowns.
- The blog echoes the view of the economist’s boss, St. Louis Fed President James Bullard, who last month said he was hearing “full-throated angst” from regional companies about the tariffs. Bullard said “all aspects of the economy are affected, but agriculture is certainly” being hit hard.
- After reporting earlier this month that the Securities and Exchange Commission had joined the federal investigation into Facebook over its failure to disclose Cambridge Analytica’s misues of user data, we come to find out what the agency is investigating.
- the SEC is looking into whether Facebook’s failure to warn investors about the potential for third-party developers to misuse their data represents a violation of disclosure laws.
- Essentially, the crux of the SEC investigation is whether the fact that Cambridge Analytica improperly used Facebook user data represented material information that should’ve been disclosed to investors.
- One former SEC enforcement attorney said that if Facebook was “making money” from its developer relationships, then not disclosing the misuse could “raise red flags.”
- the SEC can at most give Facebook a slap on the wrist, the other agencies participating in the investigation have the authority to potentially bring down the company.
- A member of the House Committee on the Judiciary said during a hearing Thursday that a government watchdog found that nearly all of former Secretary of State Hillary Clinton’s emails were sent to a foreign entity and that the FBI didn’t follow-up on that finding.
- The Intelligence Community Inspector General (ICIG) found an “anomaly on Hillary Clinton’s emails going through their private server, and when they had done the forensic analysis, they found that her emails, every single one except four, over 30,000, were going to an address that was not on the distribution list,” Republican Rep. Louie Gohmert of Texas said during a hearing with FBI official Peter Strzok.
- “It was going to an unauthorized source that was a foreign entity unrelated to Russia,” he added.
- Gohmert said the ICIG investigator, Frank Rucker, presented the findings to Strzok, but that the FBI official did not do anything with the information.
- Strzok acknowledged meeting with Rucker, but said he did not recall the “specific content.”
- “The forensic examination was done by the ICIG and they can document that,” Gohmert said, “but you were given that information and you did nothing with it.”
- He also said that someone alerted the Department of Justice Inspector General Michael Horowitz to the issue.
- “Mr. Horowitz got a call four times from someone wanting to brief him about this, and he never returned the call,” Gohmert said.
- The ICIG previously caught problems regarding Clinton’s server that the FBI missed. The bureau didn’t notice that some emails were openly marked classified with a “(C)” when they were sent.
- The ICIG has not publicly disclosed the findings Gohmert described in the meeting between Rucker and Strzok, but the congressman said the watchdog can document them.
- Thursday’s exchange is below:
Strzok: I remember meeting Mr. Rucker on either one or two occasions. I do not recall the specific content or discussions.
- The White House order to allow all members of the House and Senate intelligence committees to see the classified documents – rather than a smaller group of lawmakers known as the “Gang of Eight”
- On Tuesday, the Saudi Arabia government issued a pardon providing its military members involved in the Saudi Arabia-led and United States-supported war on Yemen with sweeping protection from potential penalties.
- The statement announced the order “pardoning all military men, who have taken part in the Operation Restoring Hope of their respective military and disciplinary penalties, in regard of some rules and disciplines”.
- The war on Yemen has been responsible for creating great destruction and suffering through extensive bombings, as well as fighting on the ground and a blockade.
- In addition to deaths and injuries caused directly by military actions, the ongoing attack on Yemen has brought about large increases in malnutrition and disease through the destruction of homes and infrastructure, as well as the blocking of imports needed to sustain Yemenis’ health.
- The issuing of the pardon can be seen as giving Saudi Arabia military members a “green light” to increase the brutality.
- The foreign ministers of the US-led coalition against the Islamic State (Daesh, ISIS) terrorist group pledged during a meeting in Brussels “immediate stabilization assistance” to support areas of Syria that had been liberated from Daesh,
- “This meeting was also an opportunity for Ministers to discuss and pledge immediate stabilization assistance to support areas of Syria liberated from ISIS in Coalition-supported operations,” the release said.US Secretary of State Michael Pompeo and NATO Secretary General Jens Stoltenberg hosted the meeting on the sidelines of the NATO summit in Belgium.
- The State Department also noted in the release that Daesh has not reclaimed any territories that the group lost in operations conducted by the coalition.
- Jordan is a conduit for the fighters and U.S.-supplied arms and ammunition that fueled the insurgency against Syrian President Bashar Assad,
- “When the Americans withdrew, they took along with them the Saudis and the Emiratis,” said Rakan Khdeir, the commander of a Syrian tribal force trained and supplied by Jordan.
- jordan has little choice now but to deal with Damascus as a “fact of life.”
- “Jordan liked to help the rebels, but it was unable to do it on its own,” he said.
- “If the Americans ran away, you can’t expect Jordan to stick around.” The entire operation of supporting the paid mercenary terrrorists has come to an end, with the discontinuation of training , support funding the other middle eastern countries cannot and will not support these groups.
- A top aide to Iranian Supreme Leader Ayatollah Ali Khamenei said on Friday that Iran would immediately withdraw its “military advisers” from Syria and Iraq only if their governments wanted it to.
- “Iran and Russia’s presence in Syria will continue to protect the country against terrorist groups and America’s aggression … We will immediately leave if Iraqi and Syrian governments want it,