Italy output continually falls, hope of recovery fading. Bank of Canada says homes overvalued. US loan demand for new homes drops 22 percent in November. Obama says cheap oil improving economy. Retails sales driven by auto sales not holiday season purchases. Radio Shack collapsing during the holiday season.Children living in poverty rising in US. Yuan has could be a reserve currency come 2015. US government removing the peoples rights and now making a move to federalize the local police. Congress just passed legislation to spy on every American. Pentagon thinking of place nukes in Europe. US using propaganda to say Assad is now working with the Islamic State.
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Current News – 12.11.2014
- Italian industrial output was weaker than expected in October, slipping 0.1 percent from the month before and offering no sign of recovery for Italy’s recession-bound economy
- The Bank of Canada warned Wednesday that the country’s housing market could be overvalued by as much as 30%
- It was the first time, the central bank has put a number on housing market overvaluation
GM Lansing Grand River – Confirms 450 Layoffs
Novartis Pharmaceuticals – 200
Update: Boeing Co. Southern CA – 360
Qualcomm – 600 Globally
Aviation titan Boeing Co. will lay off 561 employees across its Southern California operation centers by February of next year.
The cuts, expected to trim 3,000 positions, or 10 percent of eBay’s total workforce
- biggest rise in continuing jobless claims since Nov 2008.
- U.S. mortgage applications to purchase new homes fell 22 percent in November from October,the Mortgage Bankers Association said on Thursday.
- The Obama administration said on Thursday that falling oil prices are helping the U.S. economy and are unlikely to lead to a reduction in production at the country’s shale oil fields.
- “Lower oil prices are like a tax cut for the economy so in terms of the macroeconomic impact it’s net a positive,” Treasury Secretary Jack Lew said
- It’s a holiday miracle:Retail sales modestly beat expectations in November (+0.7% vs +0.6% expectations) despite the NRF previously reporting the worst extended Thanksgiving shopping weekend
- The driver of all this exuberance: Vehicle sales which surged once again +1.7% MoM courtesy of an overabundance of subprime loans.
- RadioShack announced a last-ditch attempt to avoid bankruptcy
- The plan involves closing hundreds of stores, cutting budgets and laying off retail workers and employees in corporate headquarters,
- chief executive Joe Magnacca said did not specify the number of planned layoffs, but said 50 percent of the retailer’s “field managers” will be cut,
- RadioShack has around 25,000 employees in total.
- 65 percent of all children in the United States live in a home that receives aid from the federal government? We live at a time when child poverty in America is exploding. Here are some facts that show that the number of children in America living in poverty this Christmas is at an all-time record high…
- #1 The National Center for Children in Poverty says that 45 percent of all U.S. children belong to low income families.
- #2 According to a Census Bureau report that was released just this week, 65 percent of all children in America are living in a home that receives some form of aid from the federal government…
- #4 When it comes to child poverty, the United States ranks 36th out of the 41 “wealthy nations” that UNICEF looked at.
- #12 This year, almost one out of every five households in the United States will go through the holiday season on food stamps.
- #13 One of the primary reasons why kids are suffering so much is because their parents are simply not making enough money.
Since the Great Recession struck in 2007, the median wage for people between the ages of 25 and 34, adjusted for inflation, has fallen in every major industry except for health care.
- #14 Overall, the quality of the jobs in America continues to decline. At this point, most Americans do not bring home enough income to support a middle class lifestyle for their families.
- VOTE ON FEDERAL SPENDING BILL POSTPONED, STILL PLANNED FOR THIS AFTERNOON
- House will vote on H.R. 83, the bill containing $1.1 trillion in appropriations to fund the government through 2015, aka the “Cromnibus”. among the provisions in the bill is Citi-directed watering down of Dodd-Frank by way of a Swap “push-out” provision, which would put taxpayers on the hook for derivative losses as it “would allow financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp. — potentially putting taxpayers on the hook for losses caused by the risky contracts.”
- For the first time, China has a real shot at getting the International Monetary Fund to endorse the yuan as a global reserve currency alongside the dollar and euro.
- In late 2015, the IMF will conduct its next twice-a-decade review of the basket of currencies its members can count toward their official reserves. Including the yuan in this so-called Special Drawing Rights system would allow the IMF to recognize the ascent of the world’s second-biggest economy while aiding China’s attempts to diminish the dollar’s dominance in global trade and finance.
- China would need to satisfy the Washington-based lender’s economic benchmarks and get the support of most of the other 187 member countries. The Asian nation is likely to pass both tests, said Eswar Prasad, who until 2006 worked at the IMF,
- Reserve-currency status for the yuan would make central banks, particularly those in developing economies, more eager to hold yuan assets and “diversify at the margin away from dollars,” as well as euros, yen and Swiss francs, Prasad said.
- The U.S. could potentially veto the yuan’s inclusion in the SDR basket because the change would require the support of as much as 85 percent of voting shares on the IMF’s executive board. The U.S. has 17 percent of the votes. The IMF said it’s too soon to say whether the move would require 70 percent or 85 percent of the vote under the institution’s bylaws.
- Senate Republican staffers will be required to obtain health insurance through ObamaCare’s exchanges under a rule passed Wednesday by the GOP Conference.
- Senate Republicans will designate their staff as “official,” moving them automatically onto the marketplaces.
- A loophole used in both chambers allows lawmakers to designate staff as “unofficial” or “official staff,” which permits them to keep their insurance coverage under the Federal Employee Health Benefits Program.
David Vitter said in a statement. “Washington should have to live under ObamaCare just like everybody else until we repeal it. And we won’t be complicit in Obama’s illegal rule designed to protect Washington insiders.”
- And with Republicans jumping all in on Obamacare, now it is the Democrats turn:
- Twenty-four states have signed onto the legal challenge against President Barack Obama over his executive action on immigration,
- The Texas-led coalition of states in the legal challenge consist of: Alabama, Arizona, Arkansas, Florida, Georgia, Idaho, Indiana, Kansas, Louisiana, Maine, Michigan, Mississippi, Montana, Nebraska, North Carolina, South Carolina, North Dakota, Ohio, Oklahoma, South Dakota, Texas, Utah, West Virginia and Wisconsin.
- PEW Research released a poll showing Americans’ are more concerned with protecting gun rights than with passing more gun control.
- According to PEW, “52 percent” of respondents “[said] it is more important to protect the right of Americans to own guns” than to pass more controls on gun ownership.
- A divided Supreme Court of Canada has ruled that police can conduct a limited search of suspect’s cellphone without getting a search warrant, but they must follow strict rules.
- Three dissenting justices said the police must get a search warrant in all cases except in rare instances where there is a danger to the public or the police, or if evidence could be destroyed.
- We have relinquished control of our government to those who care nothing for our rights, our dignity or our humanity, and now we’re saddled with an authoritarian regime that is deaf to our cries, dumb to our troubles, blind to our needs, and accountable to no one.
- It’s time to change the rules of the game. For that matter, it’s time to change the game.
- Those who favor increased power for government at the federal level, at the expense of state and local government, use accusations of “police brutality” to argue for transferring law-enforcement responsibility to government officials in Washington, D.C.
- The government wants to remove local control of the police and place all police power in the hands of federal government
- the United States is one of the last countries, if not the last, to have widespread local police power instead of the types of national systems that exist elsewhere.”
- The proposition that turning all law enforcement over to a national government would eliminate (or even drastically reduce) police misbehavior is not borne out by either history or logic. No one can seriously disagree with the fact that in nations with nationalized police forces, the liberties of the people are severely curtailed. Totalitarians dictatorships, such as Stalin’s Russia, or Hitler’s Germany, prove the point.
- On June 17, 1936, Hitler unified all police forces under the leadership of Heinrich Himmler. The Gestapo operated without judicial review, and had the power to place individuals in “protective custody.” Under such custody, the person being held actually signed a request to be jailed, supposedly to be protected from bodily harm. Of course, failure to sign the request form no doubt led to such harm — from the nationalized police force.
- two federal campaigns that have worked to increase national control over local police: the War on Drugs and the War on Terror. Should someone object to abuses by federal agents in either of these two areas, the objector is swiftly condemned as being “for drugs” or “for terror.”
- The drive to nationalize the local police continues. Sometimes the method is through bullying, such as proclamations from the attorney general, or statements from the president himself, as when President Obama declared that some local police “acted stupidly.” Other methods are more subtle. The federal government uses funding, training, and outfitting of local police departments, and even handing over military equipment to local police departments (blurring the lines between law enforcement and the military).
- Remember how Americans are overwhelmingly opposed to mass surveillance, and how the government promised to rein in spying on Americans?
- Congress snuck a provision into the Intelligence Authorization Act which will ramp up spying on us normal, average, innocent Americans.
- Congressman Justin Amash explains:
the Intelligence Authorization Act for FY 2015 grants the executive branch virtually unlimited access to the communications of every American.
Last night, the Senate passed an amended version of the intelligence reauthorization bill with a new Sec. 309—one the House never has considered. Sec. 309 authorizes “the acquisition, retention, and dissemination” of nonpublic communications, including those to and from U.S. persons. The section contemplates that those private communications of Americans, obtained without a court order, may be transferred to domestic law enforcement for criminal investigations.
To be clear, Sec. 309 provides the first statutory authority for the acquisition, retention, and dissemination of U.S. persons’ private communications obtained without legal process such as a court order or a subpoena.
The House subsequently passed H.R. 4681.
- White House spokesperson Josh Earnest announced that US President Barack Obama shares the US Department of Justice decision that no prosecutable crime had been committed by the CIA officers.
- US President Barack Obama agrees with the US Department of Justice (DOJ) finding that CIA officers involved in enhanced interrogation should not be prosecuted, White House spokesperson Josh Earnest said.The United States War Crimes Act of 1996, a federal statute set forth at 18 U.S.C. § 2441, makes it a federal crime for any U.S. national, whether military or civilian, to violate the Geneva Convention by engaging in murder, torture, or inhuman treatment.The statute applies not only to those who carry out the acts, but also to those who ORDER IT, know about it, or fail to take steps to stop it. The statute applies to everyone, no matter how high and mighty.18 U.S.C. § 2441 has no statute of limitations, which means that a war crimes complaint can be filed at any time.
- Hong Kong police arrested pro-democracy activists and cleared most of the main protest site on Thursday, marking an end to more than two months of street demonstrations in the Chinese-controlled city, but many chanted: “We will be back”.
- Most activists chose to leave
- Hong Kong Federation of Students leader Alex Chow said: “You might have the clearance today but people will come back on to the streets another day.”
- Ukraine’s military and militias of the self-proclaimed Donetsk People’s Republic (DPR) have begun withdrawing heavy weapons from the line of disengagement on Thursday but no deadline has been set to complete the pullback,
- Ukrainian President Petro Poroshenko, in Australia for a three-day visit, urged Russia to withdraw from the region, where both sides have been engaged in a one-day truce that Poroshenko proposed in a bid to revive the September cease-fire deal.
- “Please stop the fire. Please release the hostages. Please withdraw your troops from my territory. Please close the border,” Poroshenko said during a press conference in Melbourne. “And I promise if you close the border, within one, two, three weeks, we have peace and stability in Ukraine. Very simple.”
- Moscow is surprised by the statements of Ukrainian President Petro Poroshenko on shutting the Russian-Ukrainian border as this issue has never been raised,
- First, we have been reiterating that there were not and there are no Russian troops in Ukraine, so nothing is to be withdrawn,” the diplomat said.
- “As for the border, it is absolutely secured from our side,” Lukashevich said. “Observers of the Organization for Security and Cooperation in Europe (OSCE) have been deployed at two border checkpoints –– upon a voluntary decision of the Ukrainian side.”
- The Office of Naval Research reported that the US Navy successfully deployed and operated, for the first time, LaWS (Laser Weapon System) aboard a naval vessel during demonstrations in the Persian Gulf.
- The Pentagon is considering the re-deployment of nuclear cruise missiles in Europe
- “We don’t have ground-launched cruise missiles in Europe now obviously because they’re prohibited by the treaty,” McKeon said. “But that would obviously be one option to explore.”
- The European Union has barred all Libyan airlines from operating in the European airspace due to concerns over passenger safety amid fierce clashes in the North African country.
- “Recent events in Libya have led to a situation whereby the Civil Aviation Authority is no longer able to fulfill its international obligations with regard to the safety of the Libyan aviation sector,”
- Libya’s internationally recognized government plans to launch an alternative payment system in an attempt to control the country’s oil revenues.
- “In order to control (the oil revenues) and change the (payment) system, we need to set up (a new system) in coordination with banks
- The measure aims at circumventing the militants in the capital city of Tripoli as it will nullify their accounts.
- The United States has stopped paying most of the pro-western rebels fighting in northern Syria and has suspended the delivery of arms to them,
- A top civilian coordinator for rebel forces estimated that the cutoff affects 8,000 of the estimated 10,000 fighters
- Individual fighters were receiving $150 a month, the commander said.
- “In November we received all kinds of support including salaries. This month support stopped completely,”
- Syrian President Bashar al-Assad has voiced support for Russia’s efforts to broker peace in the war-ravaged Arab country.
- Syrian President Bashar Assad has been accused of encouraging the rise of Islamist extremist groups, like ISIS, in order to discredit opposition to his rule.
- Henman said the figures suggest ISIS and Assad’s security forces have embraced the “clever strategy” of mostly “ignoring each other.”
- Some rebels suspect coordination between the Syrian regime and ISIS.
- A total of 81 percent of those Americans polled by Fox News expect Islamic State (IS) to launch an attack on the United States in the near future.
- The majority of those Americans polled expect the extremist group to attack, including 48 percent who think it is “very likely,” according to the poll released Wednesday.
- The Islamic State militant group has released a guide to the capture, punishment and rape of female non-believers. It outlines how to use them as their sex slaves and also justifies child rape.