Tspiras will be stepping down and a call for snap elections is about to happen.UK retail sales missed expectations. Initial jobless claims increase once again. Another retailer is closing down, more layoffs are occurring. Caterpillar sales decline once again which is signalling the second depression. Existing homes sales surge after the data was manipulated. Baby boomers have no retirement. Many financial experts are predicting a complete market meltdown this fall. Congress is suing Obama over Obamacare. DHS dumping illegal immigrants who have committed violent crimes into small towns. The FBI is expecting the next attack in the US will come from Patriots. US pushing South Sudan to sign the peace deal which will allow the US to remove the government. US is pushing Russia into war and Russia is preparing for war.
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Current News – 08.20.2015
- Tsipras will call for new elections as early as today now that the country has made a critical payment to the ECB.
- UK retail sales disappointed in July, coming in shy of what economists had forecast.
- Analysts were expecting a 0.4% boost from June
- In reality, sales rose just 0.1% from June —
- initial jobless claims have now risen for 4 straight weeks (for the first time since August 2010).
- Houston-based Stage Stores Inc. (NYSE: SSI) will shutter 90 underperforming stores after falling short of second-quarter earnings goals and having to lower profit expectations for 2015.
- Having repurchased billions of its own stock near the all-time high price . Caterpillar recently hit its debt issuance ceiling and as a result is no longer able to sell debt and use the proceeds to buyback stock.
- 32 consecutive months of declining global retail sales and over a year longer than the decline observed during the great financial crisis,
- CAT suffered a sales decline in virtually every region, not just Asia where the drop accelerated from -19% to -25% Y/Y, but surprisingly in North America where the -5% slide was tied for the largest decline in two years. The one silver lining: Latin America is no longer seeing sales plunge by 50% – in august the Lattin America plunge was “only” -37%.
- By the miracle of NAR extrapolation and seasonal adjustment, the SAAR Existing Home Sales data just printed 5.59mm units – the highest since Feb 2007. Sales were dominated by increases in The West and The South with The Northeast falling. We have two questions for NAR – where are the buyers coming from… and how long is this sustainable?
- There were alot of cash purchases in… the South.
US market ‘sluggish’ but upturn expected
NAR expects ‘a gradual upturn’ later in the year, the National Association of Realtors has forecast.
Home prices are falling“We are encouraged that home prices, at least for now, have stopped declining,” said Lawrence Yun,
The Wrong Correction
Consumers are hearing a lot in the media about the correction in housing, and they’re understandably concerned about whether now is a good time to get into the housing market.
Even though interest rates fell to 6.2 percent in early 2007 from 6.8 percent in August 2006, and the economy added 3.5 million new jobs,
Realtors Group Revises Home Sales Forecast
“The speculative excesses have been removed from the market and home sales are returning to fundamentally healthy levels, while prices remain near record highs, reflecting favorable mortgage rates and positive job gains,” Yun said.
Stable Existing-Home Sales Expected in Early 2008, then Gradual Rise
‘A meaningful recovery in existing-home sales could occur as early as this spring, or it may be further delayed toward late 2008.’
Silver lining? Prices falling sharply
Because the prices are going down so fast, we’ll be hitting the stabilization point sooner,” said Lawrence Yun,
- June 17, 2008: Larry Yun predicts 99% of market will have higher values in 5-years than today.
Yun also said that he expects the worst of the housing slowdown is over, or nearly so. “The winter months are always weaker,” he said. “But this winter wil be better than last winter. There is a great pent-up demand that cannot be held back any further.”
Soaring home prices not a ‘bubble’: Realtors
Then he made another bold claim: “This is clearly not a bubble.”
- A recent analysis found that half of US households 55 and older have no money stashed away for retirement.
- The stock market is largely an arena for the wealthy. Half of Americans own no stocks at all.
- The idea that all older Americans own their home free and clear is simply not true. Only 35 percent own their home free and clear from debt (and this does not mean they don’t have expenses like taxes, insurance, and maintenance). 24 percent are still saddled with mortgage debt. And 41 percent do not own a home meaning they have to pay rents that continue tooutpace any wage gains.
- The median net worth of those 55 and older is $34,760. The median annual income of those 55 and older is $18,932 which makes them part of the new low wage American worker
- If it were not for Social Security, half of retirees would be out in the street bringing back another Great Depression like atmosphere.
- The sad reality is that retirement is no longer what people think. What about young Americans today that are starting in an even more precarious position thanks to the insane cost of going to college and the mountain of student debt?
- The Conference Board publishes leading, coincident, and lagging indexes designed to signal peaks and troughs in the business cycle for major economies around the world.
- The last 2 days have seen the biggest percentage drop since January.
- Is the stock market going to crash by the end of 2015? Of course stock market crashes are already happening in 23 different nations around the planet,
- -Harry Dent recently stated that we are just “weeks away” from a “global financial collapse“.
- -Gerald Celente says that “the global economy has collapsed” and he is “predicting that we are going to see a global stock market crash before the end of the year“.
- -Larry Edelson insists that he is “100% confident” that a global financial crisis will be triggered “within the next few months”…
“On October 7, 2015, the first economic supercycle since 1929 will trigger a global financial crisis of epic proportions. It will bring Europe, Japan and the United States to their knees, sending nearly one billion human beings on a roller-coaster ride through hell for the next five years. A ride like no generation has ever seen. I am 100% confident it will hit within the next few months.”
- -The Bank for International Settlements and the IMF have jumped on the prediction bandwagon as well. The following comes from a recent piece by Brandon Smith…
The BIS warns that the world is currently defenseless against the next market crisis. I would point out that the BIS has a record of predicting economic crashes, including back in 2007just before the derivatives and credit crisis began. This ability to foresee fiscal disasters is far more likely due to the fact that the BIS is the dominant force in global central banking and is thecause of crisis, rather than merely a predictor of crisis. That is to say, it is easy to predict disasters you yourself are about to initiate.
- September 1 – This marks the beginning of FEMA’s annual “National Preparedness Month”
- September 11 – The 14th anniversary (7+7) of 9/11
- September 11 – The last day of trading on Wall Street before the end of the Shemitah year
- September 13 – The last day of the Shemitah year. During the last two Shemitah cycles, we witnessed record-breaking stock market crashes on the very last day of the Shemitah year . For example, if you go back to September 17th, 2001 , we witnessed the greatest one day stock market crash in all of U.S. history up until that time. The Dow plunged 684 points, and it was a record that held for exactly seven years until the end of the next Shemitah cycle. On September 29th, 2008, the Dow plummeted 777 points, which still today remains the greatest one day stock market crash of all time in the United States. Now we are in another Shemitah year. It began in the fall of 2014, and it ends on September 13th, 2015.
- September 17 – Constitution Day – most Americans do not even know that this holiday exists
- Russian government is engaging in such a highly publicized destruction of the banned EU foodstuffs. The point here is to hold Russian customs officials to full accountability by retaining a retrievable record of their activity and transparently demonstrating to the people that the law is being complied with. Things brings about another point, which is that it’s impossible to have carried out such an action “quietly” since the whole point of the matter is to enforce a law that was publicly signed by the Russian President. As such, there’s obviously an accessible record of Putin having agreed to the decree, and correspondingly, investigative journalists (both Russian and foreign) that would naturally conduct follow-up reporting on it and monitor its implementation. Under such conditions, it would be scandalous for the government to ‘hide’ the very same activity that it had just recently committed to in public.
- It challenged the outlay of $175 billion as part of the Cost Sharing Reduction program, which pays out money to insurance companies and lowers premiums, primarily for the poor. Obama claims that
- CSR is like Medicare or Social Security: a mandatory payment that doesn’t require yearly authorizations. Congress claims it does, and went to court to fight its case.
In May, U.S. District Judge Rosemary Collyer voiced exasperation when a Justice Department lawyer tried to explain why the Obama administration was entitled to spend the money without the approval of Congress. Why is that “not an insult to the Constitution?” Collyer asked.
….Washington attorney Walter Dellinger, a former Clinton administration lawyer, believes the courts will not finally rule on the House lawsuit. “There has never been a lawsuit by a president against Congress or by Congress against the president over how to interpret a statute,” he said.
If the courts open the door to such claims, lawmakers in the future will opt to sue whenever they lose a political battle, Dellinger said. “You’d see immediate litigation every time a law was passed,” he said.
- The Department of Homeland Security (DHS) has been releasing illegal immigrants with violent criminal records back into local U.S. communities, where they have often gone on to commit violent crimes against American citizens, according to new disclosures by a leading lawmaker and local law enforcement agencies.
- “Despite the repeated attacks on American citizens by illegal aliens released from our jails, DHS refuses to stop freeing violent criminals who are in our country illegally,”
- One of those released is accused of kidnapping and murdering a police informant “by taking him to a wilderness area where he beat, stabbed, and lit his gasoline-soaked body on fire,”
- “Instead of immediately deporting them to their country of origin, ICE released these criminals into Arizona and … chose not to inform local law enforcement before the release of these criminals was completed,”
According to the leading western polling agencies (WIN/Gallup International), the prize for “greatest threat” is won by the United States. The rest of the world regards it as the gravest threat to world peace by a large margin. In second place, far below, is Pakistan, Iran is ranked below those two, along with China, Israel, North Korea, and Afghanistan.
- But Americans don’t know any of that. We assume the rest of the world loves and respects us, as we are spoon-fed the “World’s Greatest” and “Exceptional Country”
- The FBI has recently issued a warning which claims that the next big terror attack would likely be conducted by American militia groups against Muslims. They suggest that there is a severe “anti-Islam” bias among many of the patriot organizations and that they have solid sources indicating that there is heavy surveillance taking place at mosques across the country.
- African Union warns South Sudan rivals will bring ‘disaster’ on themselves as peace deal lies in tatters.
- The US State Department said Kiir had told Secretary of State John Kerry that he has “every intention” of signing the agreement.
- “He said he needed a couple more days of consultations but he made it very clear that it was his intention to sign,” a spokesman said.
- Russia has its reservations concerning the US proposed draft resolution on imposition of an arms embargo and expansion of sanctions against South Sudan
- “We have concerns, we have reservations. We need to study everything carefully because the resolution is complicated with many components,” the diplomat said.
- Under the US draft resolution distributed on Wednesday, the sanctions will become effective automatically as of September 1, if South Sudanese President Salva Kiir refuses to sign a peace agreement with the rebels and a ceasefire regime fails to come into force.
- Tensions are on the rise again between North and South Korea, as the two nations have begun exchanging rocket and artillery fire across their border, according to the South Korean Defense Ministry.
- North Korea appears to have launched the first attack by firing a shell across the border. South Korean media reported it was likely that the North was aiming at a propaganda-blaring loudspeaker situated in a border town about about 35 miles north of Seoul in the western part of the border area. SK was taken part in “propaganda warfare”,
- The South then reportedly retaliated with tens of 155mm artillery rounds targeted towards the location where the shell originated, according to their defense ministry.
- Terminals of the Ukrainian State Border Service have been connected to the Interpol y.
- Yatsenyuk said that 49 border crossings in Ukraine would be connected to Interpol’s automated systems by September. “The task of the State Border Service will be the unification of our control systems with those of the Interpol. This will make it possible to check information on any citizen crossing Ukraine’s state border in terms of his presence in Interpol’s wanted persons database,” the Ukrainian premier said.
- German television found photographs on Ukrainian ultranationalist Right Sector group offering combat training for children,
- “The publication of images that showed children using weapons
- There are growing signs that Kiev may soon launch an offensive against the two breakaway republics in Donbass, professor of Russian studies at Princeton University and New York University Stephen F. Cohen emphasizes.
“I am convinced that if Kiev, semi-trained as it may be by American and other Western soldiers, launches an all-out offensive on Donbass, that the Kiev army as presently constituted… will either be dramatically defeated or destroyed.
- The OSCE has sounded the alarm. The safety and security of the organization’s observers in east Ukraine has worsened over the past fortnight – with the recent upswing in fighting across the demarcation line.
- Patrols have come under fire
- Putin has voiced issues with the current situation around Crimea, pointing out at a continuing threat from “foreign forces” that try to play on the “justified concerns” of local residents in order to destabilize the peninsula
- Putin has finally given the green light, leaders of the self-proclaimed “Donetsk People’s Republic” are planning to hold a referendum on seceding from Ukraine and joining Russia, the Donetsk-based Ostrov news agency reported Wednesday.
- The referendum is scheduled to take place some in early to mid November
- A total of 22 warships of Russia and China will take part in the second phase of the large-scale naval exercise Joint Sea 2015
- “The major goals of the exercises will be to train and improve the organization of joint actions in the sea, on land and in the air,” Martov said.
- Turkey is quickly descending into chaos on all fronts.
- Retired Turkish Lieutenant General Erdogan Karakus said Turkey that Patriot missile systems proved powerless for defending Turkey and the US placing Aegis systems is likely to do the same.
- the incident when a Syrian shell fell on Turkish territory. It became clear then that ‘Patriots’ are completely powerless in face of a similar danger,”
- The Israeli army responded with artillery fire after rockets fired from Syria exploded in Israel’s north on Thursday, while the Israel Air Force also struck Syria in response.
- A personal meeting of the Russian and US presidents is not planned in the foreseeable future, and no preparations for such a meeting are under way,
- Finally, the real reason why professional hackers have lifted the data of 37 million users from the fashionable ‘infidelity’ website Ashley Madison. this whole hacking affair was a staged exercise in mass entrapment, and blackmail. The media are making a big deal about how this hack is somehow a “goldmine” for cyber criminals, but do not dare mention what this kind of information could do in the hands of the deep state via covert agencies like the NSA, the FBI or the CIA, Much has been made of the not-so-bright conclave of 15,000 US gov’t and military personnel with .gov and .mil addresses – all of whom who were using the website to facilitate their extramarital flings, but the pool of suckers is not limited to American shores.