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IMF reports that the current problems with Greece are not going away the debt is not sustainable.
Harley Davidson is spiraling out of control, sales are crashing.
IBM uses accounting trickery to make the company look like it is doing better than it really is.
Many companies are now using this accounting trick to fudge the numbers.
Housing starts, permits rebound, which means most of these starts and permits will be revised as people cancel the homes.
Russia is pushing the for a digital economy including block-chain technology.
The economy is rapidly breaking apart and we are now seeing signs of how bad it really is.
Rand Paul says the Republican party is pushing towards repealing Obamacare.
The government officials do not write the bills the big club writes them and they are passed to their salesman, congressman to sell them to the public.
The Russian translator worked for FBI Director Mueller.
Trump admin says Iran complies with the nuclear deal but imposes more sanctions.
US ready to impose sanctions on Venezuela.
Pentagon angry with Turkey because Turkey exposed all the US bases in Syria, which were illegally built without the permission of the Syrian government.
Trump just stopped the funding of the moderate rebels, the secret CIA funding has been cutoff.
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Current News – 07.19.2017
IMF: Greek debt will be unsustainable after 2030 and credit system will need additional funding of 10 billion euros
- The International Monetary Fund has again found that Greece’s debt is unsustainable under every scenario, according to the report the Executive Council. The word from Washington is that the Fund’s technocrats have included various scenarios in their debt sustainability analysis (DSA), including one that incorporates the eurozone’s commitments for short-term measures and a high primary surplus, but none see Greece’s debt becoming sustainable. the IMF is heeded only in its demands for more austerity and not for debt relief.
- Shares of Harley-Davidson (HOG) dropped 10% in the morning after the company reported second-quarter earnings and were down nearly 6% at the end of the day. Almost everything was bad.
- Retail sales by its dealers in the US fell 9.3% in Q2, compared to a year ago, to 49,668 motorcycles. They were “down more than we anticipated,” the company said. And with “soft sales across most markets,” sales by its dealers globally fell 6.7%.
- H-D has at least three fundamental problems. One is relatively new, and two have been with it for a few years and it cannot seem to escape them:
- 1. More of its customers are getting financially distressed, hence rising delinquencies and losses on its loan book.
- 2. A Hog is the iconic motorcycle for baby boomers, but they don’t make baby boomers anymore.
- 3. H-D is selling motorcycles. Motorcycle sales in the US have been a nightmare since the peak in 2005 when the industry sold nearly 1.1 million bikes of all sizes. By 2006, sales were falling. In 2008, sales plunged, bottoming out in 2010, down 60% from the peak. But unlike auto sales, motorcycles never recovered from the Great Recession.
- A fourth problem, some potential customers say – the problem that keeps them from buying – is the price tag of a Harley.
IBM Reports 21st Consecutive Quarter Of Declining Sales, Record Low Effective Tax Rate
- Last quarter, IBM almost fooled the market when it “beat” but only thanks to using the lowest (until then) effective non-GAAP tax rate in recent history (excluding one charge-filled quarter when the rate was negative and thus N/M).
- At this rate IBM will soon need a negative non-GAAP tax rate to make its negative non-GAAP earnings turn positive.
- However while IBM is truly a wizard when it comes to fudging the bottom line, there was nothing it could do about the top line, and it was here that IBM’s troubles emerged, because not only did IBM once again not beat modest estimates of $19.47 billion, instead generating $19.3 billion in revenue...
- … but this was also the 21st consecutive quarter of declining revenues for the company which lately can’t seem to get any traction on the top line.
Housing Starts, Permits Rebound In June Despite Tumble In HomeBuilder Confidence
- building permits rebounded galantly in June (+7.4% MoM – the most since Nov 2015)…
- and following three straight monthly declines, housing starts rose 8.3% MoM in June – the biggest jump since Dec 2016.
- The biggest gains were seen in Northeast Starts – which rose 83.7%!!!
- This rebound in building and prospective future building seems odd though, considering homebuilder confidence just cratered to 8-month lows…
- Quarter Comparison
- Starts Down 6.0%
- Permits Down 3.4%
- Residential construction rates to subtract from second quarter GDP.
Putin puts digital economy on list of main goals of Russia’s strategic development
- The digital economy should be included in the list of the main goals of Russia’s strategic development until 2025.
- The final version of the digital economy development program should take into account the support for the development of key end-to-end digital technologies, including artificial intelligence, robotics, quantum computing, development of information and telecommunications and computing infrastructure, and financial incentives.
Rand Paul: Moving forward with clean ObamaCare repeal a ‘victory’
- Sen. Rand Paul (R-Ky.) ” that Republicans are moving forward with a plan to repeal ObamaCare.
- “I’ve been advocating that we repeal ObamaCare — all of it — and we’re at least going to get a vote on a partial repeal and that is a victory.”
- Paul said the Senate GOP’s previous healthcare bill — which collapsed earlier this week — had about $180 billion to give to insurance companies.
- “Insurance companies have gotten rich on ObamaCare.
Reminder: To Remove ObamaCare We Must First Remove The UniParty “Big Club”…
- So, what is “The Big Club“? …
- Politicians do not write laws. Paul Ryan, Nancy Pelosi, Mitch McConnell and Chuck Schumer do not sit in their offices writing out scripts of laws and legislation; no politician does. Politicians are the faces who sell legislation that unseen hands create. The Big Club represents the hands that actually create legislation; lobbyist hands.
- Indeed, it makes much more sense to focus the attention on the unseen hands that are never discussed – These are the roots of the issues, the politicians are merely the expendable and interchangeable sales force.
- The Big Club are massive and complex networks of lobbying groups who actually write legislation. After lobbyists have written the law, depending on their own evaluation of importance therein, they pay the politicians to support and sell their construct.
- The amount of payment varies depending on how valuable the construct is to the interests of the Club. Big legislative constructs that provide the Club large income increases are worth more than smaller ones.
- The Big Club has paid for ObamaCare’s construct, and they are not going to allow their sales force to walk away from it. From their position, this is a massive ‘multi-multi-hundreds-of-millions’ expenditure that has already taken place.
- ♦ Wall Street supports ObamaCare because it: #1 removes the cost of providing healthcare from the cost of producing products in the U.S. [However, you’ll note the consumer price of manufactured goods never actually decreases, instead the savings go to the profit margin.] #2 allows the manufacturing cost equity to streamline globalization efforts.
- Both primary factions within the BIG CLUB stood to gain substantially if they could shift the cost of healthcare from their corporate ledgers into the personal checkbooks of the individual U.S. consumer. Hence, they looked at the lobbying cost of ObamaCare as a long-term legislative investment with a massive upside for profit.
Trump Slams “Fake News Story Of Secret Dinner With Putin” At G-20 – “Press Knew!”
- President Trump has tweeted in on the latest “scoop” from the media about his “dealings” with Russian president Putin…
- “There was a couples-only social dinner at the G-20; toward the end, the president spoke to Putin at the dinner,”
Russian Translator At Donald Trump Jr.’s Meeting Was An FBI Agent Under Robert Mueller/An Obama Translator!! Mueller Must Step Aside As Special Counsel!
- The more we learn about the FBI, the more shocked we become! TRUE PUNDIT broke the story that the Russian translator, Anatoli Samochornov, actually was working for the FBI under Robert Mueller at the time of the meeting between Donald Trump Jr. and the Russian lawyer.
Trump Jr. scandal: Russian lawyer Veselnitskaya ready ‘to share everything’ with Senate
- Russian attorney Natalia Veselnitskaya told RT she is ready to testify before the US Congress on her meeting with Donald Trump Jr. during last year’s presidential campaign in America.
- She accuses Magnitsky Act lobbyist William Browder of masterminding the disinformation campaign, aiming to harm her as revenge for a recent defeat he suffered in a US court in at the hands of a team of lawyers that included Veselnitskaya.
- “I have absolutely no doubt that this whole information [campaign] is being spun, encouraged and organized by that very man as revenge for the defeat he suffered in the court of the Southern State of New York in the ‘Prevezon’ company case,” she said.
US COURT RULES FBI CAN CONTINUE TO SURVEIL YOUR DATA IN SECRET
- A US federal appeals court has upheld the constitutionality of gag orders that prevent companies from informing their customers about FBI surveillance.
- The nondisclosure agreements often accompany national security letters (NSLs) issued by the FBI, compelling tech companies to turn over subscriber data while leaving the target unaware that they are being surveilled. No warrant is required for the data and the gag orders can remain in effect indefinitely.
- A three-judge panel of the 9th US Circuit Court of Appeals in San Francisco unanimously rejected the argument that the nondisclosure orders violated the First Amendment.
- The FBI issues tens of thousands of NSLs each year to various tech companies. Apple revealed in its biannual transparency report that it had received between 5,750 and 5,999 NSLs in the second half of 2016 alone, which affected between 4,750 and 4,999 accounts.
“All Options On Table” – US Threatens Sanctions As Venezuela’s Maduro Vows To Create New Constitution
- The US is weighing whether to impose sanctions on Venezuela’s defense minister and several other top officials for human-rights violations, according
- A vote on whether to create the new Congress is set for July 30 – a vote that is widely expected to succeed. The legislative super-body, known as a Constituent Assembly, would help Maduro rewrite the country’s constitution, ultimately helping him consolidate his authority.
- . Among those named would be Defense Minister Vladimir Padrino Lopez, 54, and Diosdado Cabello, 54, a longtime ally of late President Hugo Chavez and power broker within the ruling Socialist party, they said.
Trump Administration Says Iran Is Complying With Nuclear Deal, Adds New Sanctions
- The Trump administration, which is required to report to Congress on Iranian compliance with its nuclear commitments every 90 days under the terms of the Iran Nuclear Agreement Review Act of 2015, previously certified Iran’s compliance in April.
- Trump has ordered a comprehensive review of U.S. policy on Iran that will focus on these and other issues, which is set to be finished by the end of summer.
BREAKING: ISIS totally swept aside as the Tiger Forces race across Raqqa
Pentagon Furious After Turkey Leaks U.S. Base Locations In Syria: “Hard Not To See This As A F-You”
- In a move that has angered the U.S. for obvious reason, Turkey’s state-run news agency Anadolu Agency has leaked the precise locations of U.S. bases in northern Syria. The move – which exposes the exact locations of American soldiers . the news agenct detailed information about 10 U.S. bases in northern Syria, including troop counts and a map of the U.S. force presence in the Turkish version.
Trump ends covert CIA program to arm anti-Assad rebels in Syria, a move sought by Moscow
- President Trump has decided to end the CIA’s covert program to arm and train moderate Syrian rebels battling the government of Bashar al-Assad,
- The program was a central plank of a policy begun by the Obama administration in 2013 to put pressure on Assad to step aside,
- Officials said the phasing out of the secret program reflects Trump’s interest in finding ways to work with Russia,