The retail crisis continues, more stores are declaring bankruptcy and closing down thousands of stores. Existing home sales and new home sales reverse course and decline rapidly. Steve Mnuchin made a move to collapse the economy, Trump blocked his attempt. A perfect storm is headed our way and there is now way out of it. The government know this the central banks know this and when it hits its going to be horrific. Countries are preparing to detach themselves from the dollar and move into other types of currencies, the yuan and controlled cryptocurrencies.The entire economic system is ripping itself apart, we are at the end game. The missing text messages have been found. The cabal pushes their agenda to take control of the narrative of the story regarding the memo, calling it a conspiracy theory, the Russian’s did it etc, this will fail.Mueller will speak with Trump under oath to try to catch him in a lie, this is all they have left because there is no Russian collusion.North Korea and South Korea speak of coming together and having peace. The Kurdish people call on Assad to send the Syrian Army to protect Syrian Sovereignty from Turkey. Turkey makes it clear that they won’t attack the Syrian Army. Soros pushes the agenda for the cabal (deep state). Saying the world is not headed in the right direction.
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Current News – 01.25.2018
- We’re three weeks into the year and the first of what are expected to be dozens of retail bankruptcies has arrived: Nine West.
- Following yesterday’s disastrous drop in existing home sales (due to record low supply), new home sales plunged 9.3% MoM after November saw its biggest surge since Jan 1992, revised dramatically lower.
- The November 17.5% spike was revised dramatically down to 15.0% spike – the highest since 1993 but December’s 9.3% plunge was already worse than the expected 7.9% giveback…
- Biggest MoM drop since Aug 2016.
- In fact the downward revisions are huge… October from 624K to 599K; November from 733K to 689K
- While the blame is immediately laid on weather, the regional drops show that is simply not correct:
- Purchases fell in all four U.S. regions, led by a 10 percent drop in the Midwest and a 9.8 percent slide in the South.
- Median Home Prices reached a new record high…at $335,400
- In truth, falling inventory is quite easily explained, and in a way that is perfectly consistent with labor market and national (labor) income statistics as they are. The BLS outside of the unemployment rate, which, for the nth time doesn’t include Americans who would work if there was work, actually has been describing a consistently and persistently slowing labor market. The timing of where that started matches with where resale inventory began to contract.
- . Even people who are working start to become uncertain or even fearful when the jobs market as a whole slows down – and not just slows, but continues to decelerate year after year (after year). This trend will be starting its fourth year.
- The economy is what actually happens, not what people think other people think Economists say is happening.
- U.S. Treasury Secretary Steve Mnuchin opened his mouth at the base of the snow-covered mountains of Davos, Switzerland yesterday during the World Economic Forum and sent an instant chill through currency markets around the world. he said the weak dollar would be good for U.S. trade prospects, the U.S. Dollar plunged to a three-year low.
- Mnuchin sought to walk it back in a forum sponsored by CNBC this morning in Davos. During that forum he said: “In the longer term, we fundamentally believe in the strength of the dollar.”
- There are important reasons that it is considered bad form for a sitting U.S. Treasury Secretary or sitting U.S. President to comment on the trading level of the U.S. Dollar. While a cheaper Dollar is good for U.S. exporters because it makes their products more competitively priced in foreign markets, a cheaper dollar is decidedly not good for U.S. consumers who have to pay more for imports from foreign countries with a stronger currency. (Go to the apparel department of any department store in the U.S. and try to find an item of clothing made in the U.S. and you’ll see what we mean. Or go to Lowes or Home Depot and try to find a lighting fixture made in the U.S.; or go to an electronics store and check the ratio of foreign made goods to U.S. made goods. You’ll quickly get the picture.)
- Purchases made by consumers in the U.S. represent approximately two-thirds of total Gross Domestic Product (GDP). A steadily weakening dollar presents a hardship to the working class of America where the bulk of their income goes to the necessities of life. As the dollar weakens those costs increase while wages stagnate.
- These increased consumer costs lead to rising inflation which could force the hand of the Federal Reserve to raise interest rates faster than currently anticipated. This could cause the stock market to fall, delivering another blow to the working class as their 401(k) savings for retirement would take a hit.
- Then there is the matter of the trillions of dollars that foreigners have invested in businesses and real estate in the U.S. If they made those investments when the U.S. Dollar was strong and try to repatriate their funds back to their foreign jurisdiction by selling these assets when the U.S. Dollar is weak, that could deliver significant losses to these investors. The same concept applies to foreign central banks who hold trillions of dollars in U.S. Treasury Securities.
- After Stephen Mnuchin failed to arrest the dollar’s freefall this morning, it appears to have been left to President Trump stepped int
Trump said “Mnuchin’s comment was taken out of context” and added that “our country is becoming so economically strong again and strong in other ways, too... and the dollar will get stronger and stronger and ultimately I want to see a strong dollar
- The world financial system is as dangerously stretched today as it was at the peak of the last bubble but this time the authorities are caught in a “policy trap” with few defences left, a veteran central banker has warned.
- Nine years of emergency money has had a string of perverse effects and lured emerging markets into debt dependency, without addressing the structural causes of the global disorder.
“All the market indicators right now look very similar to what we saw before the Lehman crisis, but the lesson has somehow been forgotten,” said William White, the Swiss-based head of the OECD’s review board and ex-chief economist for the Bank for International Settlements.
- Professor White said disturbing evidence of credit degradation is emerging almost daily. The latest is the disclosure that distressed UK construction group Carillion quietly raised £112 million ($195 million) through German Schuldschein bonds. South African retailer Steinhoff also tapped this obscure market, borrowing €730 million ($1.11 billion).
- Schuldschein loans were once a feature of rock-solid lending to family Mittelstand companies in Germany. The transformation of this corner of the market into a form of high-risk shadow banking shows how the lending system has been distorted by quantitative easing (QE) and negative interest rates. Professor White said there was an intoxicating optimism at the top of every unstable boom when people convince themselves that risk is fading, but that is when the worst mistakes are made. Stress indicators were equally depressed in 2007 just before the storm broke.
- It has the makings of a perfect storm.
- The global fall-out could be violent.
- Credit in dollars beyond US jurisdiction has risen fivefold in 15 years to over $US10 trillion. “This is a very big number. As soon as the world gets into trouble, a lot of people are going to have trouble servicing that dollar debt,” said Professor White. Borrowers would suffer the double shock of a rising dollar, and rising rates.
- While banks now have high capital buffers, the risk has migrated: to investment funds concentrated in crowded trades. The share of equities traded in “dark pools” outside the exchanges has mushroomed to 33 per cent.
- global finance executives warned of parallels between today’s soaring stock markets and the froth of the pre-crisis years as they said investors could be wrong-footed by central banks raising interest rates.
- Standard & Poor’s sums it up well, noting that, with interest rates around the globe close to record lows, companies have binged on cheap borrowing. U.S. corporations have a record amount of debt and leverage, with many as vulnerable to default as before the crisis.. and yet credit spreads are at record lows…
- A draft law introducing the national cryptocurrency, CryptoRuble, as a means of payment in Russia has been submitted to parliament.
- “The amendments proposed by the draft law … codify the digital financial asset as a legal means of payment on the territory of Russia,” the document’s explanatory note reads.
- The draft law was submitted by a Communist Party MP, Rizvan Kurbanov. It is specified that the currency goes by the name of “CryptoRuble.”
- Russian President Vladimir Putin ordered the issue of a national cryptocurrency, totally regulated by the government, i The release of CryptoRuble (CRUR) would see all other cryptocurrency mining banned in the country,
- The proposal includes relaxation of foreign ownership rules on insurers, securities and asset management firms, and banks. It will also ease restrictions on direct and indirect foreign ownership of fund management and futures companies, and brokerage firms to 51 percent from 49 percent. The limit is expected to be abolished entirely in three years.
- According to Ciaxin, the Chinese leadership “will also remove the single foreign investor limit of 20 percent and the aggregate foreign investor limit of 25 percent on stakes in banks and asset management companies, putting overseas investors on a level playing field with domestic investors.”
- What Prompted China to Open Up Now
- The missing text messages from a critical five-month period between Trump-bashing FBI officials Peter Strzok and Lisa Page, who both served on Special Counsel Robert Mueller’s team, have been located by the Department of Justice.
- In a letter sent to congressional committees, Justice Department Inspector General Michael Horowitz said his office “succeeded in using forensic tools to recover text messages from FBI devices, including text messages between Mr. Strzok and Ms. Page that were sent or received between December 14, 2016 and May 17, 2017.”
- “Our effort to recover any additional text messages is ongoing,” Horowitz “We will provide copies of the text messages that we recover from these devices to the Department so that the Department’s leadership can take any management action it deems appropriate.”
Peter Strzok and Lisa Page
- judicial Watch has filed a lawsuit in federal court to gain access to all of the text messages to and from former FBI counterintelligence head Peter Strzok and his paramour, FBI attorney Lisa Page, based on a Freedom of Information Act request made last month that has gone unanswered.
- The government transparency watchdog made the FOIA request Dec. 4. It included the following documents from the time frame of Feb. 1, 2015, to the present:
- all records of communications, including but not limited to, emails, text messages and instant chats, between FBI official Peter Strozk and FBI attorney Lisa Page;
- all travel requests, travel authorizations, travel vouchers and expense reports of Peter Strozk; and
- all travel requests, travel authorizations, travel vouchers and expense reports of Lisa Page.
- Robert Mueller’s investigation has climbed all the way up to Donald Trump himself. He is now demanding to interrogate Trump under oath in hopes of getting him on a perjury charge as he desperately tries to take him down on an obstruction of justice charge
- When Hillary was questioned by Comey, he didn’t even take notes. That is NEVER done and it was intentional to ensure she would NEVER be charged with anything. Mueller is clearly taking the direct opposite approach. He is obviously positioning himself to try to take Trump down on obstruction of justice since he cannot show he conspired with Putin. This is all about trying to Impeach Trump, a
- A bombshell four-page “FISA memo” alleging egregious surveillance abuse by the FBI, DOJ and Obama administration, specifically names FBI Deputy Director Andrew McCabe, former FBI Director James Comey and Deputy Attorney General Rod Rosenstein, c
- The Deep State have declared war on politicians and media outlets who are demanding the immediate release of the four-page FISA Abuse Memo.
However, the reaction of the Deep State to the threat of this information has been manic
- A leaked letter from Adam Schiff and Diane Feinstein, written to Jack Dorsey of Twitter and Mark Zuckerberg of Facebook, make their feelings about #ReleaseTheMemo breaking the internet abundantly clear.
- They blame #ReleaseTheMemo not on patriotic Americans sick of their shit, but on, you guessed it, “the Russians”.
- Whoever incites, sets on foot, assists, or engages in any rebellion or insurrection against the authority of the United States or the laws thereof, or gives aid or comfort thereto, shall be fined under this title or imprisoned not more than ten years, or both; and shall be incapable of holding any office under the United States.
- If two or more persons in any State or Territory, or in any place subject to the jurisdiction of the United States, conspire to overthrow, put down, or to destroy by force the Government of the United States, or to levy war against them, or to oppose by force the authority thereof, or by force to prevent, hinder, or delay the execution of any law of the United States, or by force to seize, take, or possess any property of the United States contrary to the authority thereof, they shall each be fined under this title or imprisoned not more than twenty years, or both.
- North Korea on Thursday issued a rare message for “all Koreans at home and abroad,” saying they should make a “breakthrough” for unification without the help of other countries,
- , “all Koreans” should “promote contact, travel, cooperation between North and South Korea” while adding Pyongyang will “smash” all challenges against reunification of the Korean peninsula.”
- The announcement, called for Koreans to “defuse military tensions” and create “a peaceful atmosphere” on the peninsula.
- Now we know why in the corporate media they have been playing up the invasion into North Korea
- US stealth bombers in Guam appear to be readying for a tactical nuclear strike on North Korea
- Germany on Thursday voiced “great concern” about Turkey’s cross-border offensive against a Kurdish militia in northern Syria and called for NATO to discuss the operation.
- Foreign Minister Sigmar Gabriel said Berlin had put a temporary halt on arms deals with Turkey and that he had “asked the Secretary General of NATO (Jens Stoltenberg) to also discuss within NATO the situation in Syria and in the country’s north”.
- The official Kurdish administrative bureaucracy that runs Syria’s Afrin region has called on the government in Damascus to protect the region and its people from the ongoing assault against it by Turkey-led forces.
- Moments ago, the Afrin Self-Administration Office (a regional extension of the Kurdish Democratic Union Party) posted a statement (seen below) officially calling on the Syrian government to fulfill its duty to protect the region – a part of sovereign Syrian soil – from Turkish invasion by deploying its military.
- “We call out for the Syrian government to protect Afrin and Syria’s borders by deploying the Syrian Armed Forces to protect Afrin borders.”
- Ankara’s foreign minister Mevlut Cavusoglu has stated that Turkey has no intention of targeting or attacking troops of the Syrian Arab Army.
- billionaire globalist investor George Soros is about to sit down for a conversation among the world’s elites in Davos…
- Here is what Soros said in 2017:
On Trump as president: “Trump stands for a form of government that is a dictatorship or mafioso state. He would be a dictator if he could get a way with it.”
On Trump and China: “Trump will do more to make China look respectable in the eyes of the international community than China could have ever done on its own.”
On Trump and markets: “Long-term investors don’t like uncertainty. I don’t think the market will do very well [under Trump].”
- And Soros begins on a down-note… commenting on the “bleak state of the world”…
- Soros says that the survival of our whole civilization is at stake, due to the rise of Kim Jong Un in North Korea and Donald Trump in the United States.
“They both seem to be willing to risk a nuclear war to keep themselves in power.”