PodCast here: Episode 1043
Supporting Charts and Illustrations,
to all of these Headlines, below,
with Sources noted and linked.
As the Greek economy collapses exports decline dramatically.
Retail slows in July.
The job numbers look like they were created by a computer algorithm.
Many indicators that the government is producing
does not match the reality of the economic environment.
A new report is out that shows the next generation
will be poorer than their parents.
Fannie and Freddie just failed the stress test,
if there is an economic crisis they will need a bailout.
The people in Venezuela are so desperate they are stocking up on diapers.
Obama’s operation choke point
was to remove the competition for large corporations.
UK is sending 60 troops to Africa to garrison the countries there.
South Korea is not putting the responsibility on China to control North Korea.
Syria and Russia are on the verge of taking back Syria.
The US is on the verge of complete failure in the middle east,
which means the petrodollar is doomed.
Obama sets up a cyber attack command
which will be separate and apart from the NSA.
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Current News – 08.08.2016
- There is a notable decrease in exported goods from Greece,
- “Greek exporters continue to pay a heavy price for the absence of normality in the market more than one year on from when capital controls were imposed,”
- data published by the Hellenic Statistical Authority on Friday seems to suggest that there is a decline in exports in both EU markets as well as non-EU markets.
- The statistic released show that the value of Greek exports for the first six months of 2016 came to 11.97 billion euros, 8.1 percent lower that the 13.02 billion achieved year-to-year.
- The latest retail sales figures for July bear out earlier dismal forecasts, with the Thomson Reuters Same Store Sales Index registering a preliminary -1.5% comp for July, missing its -0.9% final estimate. the indication is that mid-summer is proving to be very difficult for the retail sector.
- Look at this chart. Do those railroad tracks look like the real world to you, or are these some kind of computer generated auto-numbers that merely make a pretense of reality. Law of Large Numbers or not, I have never seen any other economic series behave with such regularity.
- Michael Pollaro, keeper of the TMS series and a keen observer of the economy,reveals the following
- Something very strange has recently happened with the national manufacturing ISM data. Not only are they regularly at odds with the PMI data released by Markit, but they are also at odds with numerous other data points.
- Looking at the ISM new orders and industrial production.we have seen similar bounces after several very weak readings occurred shortly before the most recent two recessions started. These bounces turned out to be head fakes
- Real Gross Private Domestic Investment (RGPDI) is the most reliable leading indicator of US economic recession. Its trend has always reversed from up to down in advance of a recession (there have been no false negatives) and only in advance of a recession (there have been no false positives).
- A significant trend change in RGPDI has occurred. This is a major recession warning.
- Lets look at total business sales to the payrolls as well as the household employment report. Since business sales simply add actual dollar revenues, we would contend that it must be the employment data that are problematic.
- Total business sales (red line) vs. establishment payrolls (blue line) and household employment survey (green line) – a widening, and by now credibility-stretching gap
- The McKinsey study Poorer than Their Parents? offers a new perspective on income inequality over the period 2005-2014.
- Based on market income from wages and capital, the study shows 81% of US citizens are worse off now than a decade ago. In France the figure is 63%, Italy 97%, and Sweden 20%.
- Fannie Mae and Freddie Mac together could need a taxpayer bailout of as much as $125.8 billion in a new, severe economic downturn, their regulator said Monday.
In a ‘severely adverse scenario.’ the stress test found, Fannie and Freddie would require a Treasury draw of at least $49.2 billion and as much as $125.8 billion.
- UK banks have announced poor performance during the first half of 2016.Several UK banks have announced losses
- Bank share prices fell dramatically in the aftermath of the vote, and on Monday June 27 trading in shares in Barclays and Royal Bank of Scotland (RBS) was temporarily suspended; RBS shares closed down 17.4 percent and shares in Barclays closed down 15.1 percent.
- in the midst of a crippling economic crisis, diapers can become a hot commodity that spurs a thriving black market.
That’s what’s happening in Venezuela, where the country’s only major export, oil, has lost half its value in the past two years.The health care system is collapsing. Crime rates are soaring. Venezuelans are afraid to leave their homes at night.They’re lining up at supermarkets for hours to get their hands on basic goods and foods. It’s a desperate situation caused, in part, by a string of failed government policies.
- Operation Choke Point is an initiative of the United States Department of Justice that was announced in 2013, under fellow “club member” former Attorney General Eric Holder, which states that their purpose is “investigating banks in the United States and the business they do with payment processors, payday lenders, and other companies believed to be at higher risk for fraud and money laundering,” but which instead is used as an openly unconstitutional weapon in the hands of tyrannical Plutocrats behind the scenes within the US Government and in the Military Industrial Complex security establishment to shut down, without warning or due process, any and all businesses deemed to be enemies of their political and militant agenda.
- Certain banks and merchant services, are apparently shutting down credit card acceptance services of businesses all over the country, accused of going after targeted businesses and individuals who are in competition with other favored businesses in their same locale, so as to “cut out the competition,” using the federal US Government to do so.
- Operation Choke Point, the Justice Department’s targets have included vendors of firearms and fireworks”
- The United Kingdom has sent over 60 military personnel to Nigeria and Somalia to help the countries’ military forces and UN peacekeepers tackle security threats and fight terrorism,
- Seoul argues that North Korea poses a present and immediate threat to regional security, but China worries more about being encircled by an increasingly aggressive United States.
- China’s People’s Daily said in an editorial, “It is impossible for South Korea’s leader not to know America’s strategic plot. She is well aware of the real direction of the THAAD anti-missile system.”
- “She has no hesitation about undermining regional stability and flagrantly damaging the security interests of neighboring powers,” the editorial stated.
- Afghanistan, Islamic State and Taliban militants have agreed a truce to counter US-backed forces in the region, military officials told American media.
- Turkey is ready to take steps immediately towards the implementation of the Turkish Stream gas pipeline project, the country’s President Recep Tayyip Erdogan has said.
- “We are ready to promptly take steps towards the implementation of this project, discuss it and make decision,”
- Russia and Turkey are jointly developing policies that will have a profound effect on the wider region, including the Middle East and Ukraine,
- “The common policies which are being developed by Turkey and Russia in the region will have a defining significance for the situation in the Middle East,
- The moderate rebels will begin an offensive to capture all of Aleppo City, marking the inception of their second large-scale operation to seize a Syrian provincial capital. Syrian Army’s High Command has sent necessary reinforcements from the western countryside of Hama to the provincial capital of Aleppo.
- rebels also sent a large convoy of reinforcements to Aleppo City on Sunday,
- Since the onset of the war in Syria, corporate-financier funded think tanks engineering American and European foreign policy made it clear that establishing no-fly zones and “safe havens” in Syria would be an incremental step toward achieving regime change and rendering the nation divided and destroyed as US policymakers had done to Afghanistan, Iraq, and Libya beforehand.
- The Brookings Institution has – for years now – published paper after paper regarding the establishment of such “safe havens” in Syria
- As early as 2012, in a Brookings paper titled, “Assessing Options for Regime Change,”
An alternative is for diplomatic efforts to focus first on how to end the violence and how to gain humanitarian access, . This may lead to the creation of safe-havens and humanitarian corridors, which would have to be backed by limited military power. This would, of course, fall short of U.S. goals for Syria and could preserve Asad in power. From that starting point, however, it is possible that a broad coalition with the appropriate international mandate could add further coercive action to its efforts.
- Brookings had hoped that the corridors and safe havens would provide a foothold from which additional covert and overt Western military power could be wielded to ultimately overthrow the government in Damascus and render Syria a perpetually divided and destroyed nation
- The Safe Haven Plan, V.2
- In regards to carving out safe havens, Brookings would claim in its recent paper the following
The Kurds are making gains in Syria’s northeast, for instance, as are some forces on the southern front—so, if the United States, in cooperation with its allies, accelerates and intensifies its involvement on the ground in those areas, safe havens can essentially emerge. An important advantage of this approach is that it doesn’t require putting American credibility on the line, but does help local allies build up and reinforces successes on the ground.
- It should be noted that for several years now, the US has incrementally revealed the scope US troops have been playing on the ground in Syria. this will ‘intensify and accelerate’ their activities so desired safe havens can simply “emerge.”
- The presence of Russian aircraft in the skies over Syria, the presence of Russian troops on the ground, and the expansion of Russian activities across the country poses a problem for the US to carve out its “safe havens.”
- Vladimir Putin may be on the cusp of a pivotal victory in Syria’s civil war that would make it much harder for the U.S. to achieve its stated goal of ousting Bashar al-Assad without a major military escalation.
- Obama administration is preparing to elevate the stature of the Pentagon’s Cyber Command, signaling more emphasis on developing cyber weapons to deter attacks, punish intruders into U.S. networks and tackle adversaries such as Islamic State,
- Under the plan being considered at the White House, the officials said, U.S. Cyber Command would become what the military calls a “unified command” equal to combat branches of the military such as the Central and Pacific Commands.
- Cyber Command would be separated from the National Security Agency, a spy agency responsible for electronic eavesdropping, the officials said. That would give Cyber Command leaders a larger voice in arguing for the use of both offensive and defensive cyber tools in future conflicts.
- The Pentagon acknowledged earlier this year that it has conducted cyber attacks
- “We are dropping cyberbombs. We have never done that before,” Deputy Defense Secretary