In stunning CNN interview, Trump’s divorce lawyer suggests Cohen will flip

“He’s of a type that I have recognized in the past as one not suited to stand up to the rigors of jail life.”

“He’s of a type that I have recognized in the past as one not suited to stand up to the rigors of jail life,” Goldberg said of Cohen, Trump’s longtime personal attorney and the current target of a federal criminal investigation. “I think, in many ways — and it’s difficult to say this — prison has a racial overtone, and a person like Michael doesn’t see himself walking down Broadway while people are clamoring, ‘you’re going to be my wife.’ And so he’s under pressure from his family to try to figure out what it would take to bring the government aboard as his sponsor.”Goldberg, who claims to know Cohen personally, told CNN’s Erin Burnett he shared his concerns directly with President Trump during a phone conversation a few days after the FBI raided Cohen’s home, office, and hotel room on April 9. Nick Note: think about the secrets of the temple Cohen if properly motivated will tell. Ans their is no presidential pardon for state crimes. And Cohen knows that Trumps promises are worth nothing.

SEC proposes rule to combat conflicted investment advice

Wall Street Retirement Village their high yield bond fund will get you a exclusive membership in. Warning by Nick

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission on Wednesday proposed a new rule that would require brokers at firms like Morgan Stanley ) and Merrill Lynch Wealth Management to clearly explain the fees investors pay and commissions brokers earn when giving financial advice.The 1,000-page Regulation Best Interest would require brokerages to put that information, along with any conflicts of interest and questions clients should ask, in a four-page disclosure document that brokers would be required to give investors.  The rule comes after more than a decade of regulatory deliberation over how to address conflicts of interest in the investment advice industry.If passed, it would replace the Obama-era fiduciary rule, which was issued by the Labor Department and was overturned in March by the 5th U.S. Circuit Court of Appeals. SEC Chairman Jay Clayton said the rule “reflects our efforts to fill the gaps between investor expectations and legal requirements, thereby increasing investor protection and the quality of advice, while preserving access and choice, recognizing that … (is) driven by what is available and how much it costs.”

The rule proposes that brokers “act in the best interest of that customer at the time the recommendation is made, without placing the financial or other interest of the (firm) ahead of the interest of the retail customer.”

Nick Note: This is a freeging outrage that this issue arise. Remember that broker asshole will put you into any dog shit that generates him and his firm the biggest commission. And the bigger the pile of shit the bigger commission. Baby Boomers have bought retirement funds (ha ha ha) “high yielding” that are chock full of SHIT. They will live out their days dumpster diving  in poverty. it is a crying shame!

Rudy Giuliani Joining Trump’s Legal Team ‘For the Good of the Country’

A president who has had trouble recruiting new lawyers gets a close ally to come in and help.
Don Emmeret/Getty

Former New York City Mayor Rudy Giuliani is joining President Donald Trump’s personal legal team to help with Special Counsel Bob Mueller’s probe into potential Russian meddling in the 2016 election, The Washington Post reported and The Daily Beast has confirmed. Though talks had been ongoing, a formal announcement was delayed by a slew of foreign policy matters that took over much of the president’s time and agenda. A source familiar with the arrangement said that Trump had been preoccupied by North Korea and Syria, which limited his availability to speak with potential new members of his legal team. Giuliani told the Post that he was joining the team “because I hope we can negotiate an end to this for the good of the country and because I have high regard for the president and for Bob Mueller.”  In a statement, the president said: “Rudy is great. He has been my friend for a long time and wants to get this matter quickly resolved for the good of the country.” And Trump lawyer Jay Sekulow added: “I have had the privilege of working with Mayor Giuliani for many years, and we welcome his expertise. Mayor Giuliani expressed his deep appreciation to the President for allowing him to assist in this important matter.” He additionally announced the hiring of Jane Serene Raskin and Marty Raskin—both former federal prosecutors—to join the president’s legal team. Trump has had notable difficulties in recruiting new lawyers. And in the former New York City Mayor, he has brought on board a close ally with strong roots in the legal world. After Trump’s victory, however, Giuliani wasn’t selected for any cabinet post, leaving him on the outside of an administration he’d helped elect. Axios reported last summer that Trump had considered replacing Attorney General Jeff Sessions with Giuliani. But that too never happened. Nick Bit: they are bring in the Goul because they want to stop a New York State prosecution of Flynn, Maliford and Cohen. State conviction would be out of the reach of Presidential pardon!

Qualcomm begins layoffs as part of cost cuts

FILE PHOTO: The logo of Qualcomm is seen during the Mobile World Congress in Barcelona, Spain February 27, 2018. REUTERS/Yves Herma

(Reuters) – Qualcomm Inc (QCOM.O) has begun cutting jobs as part of its promise to investors to cut annual costs by $1 billion, the chipmaker said on Wednesday. “Qualcomm is conducting a reduction of our full-time and temporary workforce,” a company spokesperson who declined to be identifies said, without disclosing the exact numbers of job cuts.Though the company first evaluated non-headcount expense reductions, it concluded that a workforce reduction is needed to support long-term growth and success, the spokesperson said. Qualcomm said it offered affected employees severance packages. It employed about 33,800 full-time, part-time and temporary employees, as of Sept 24.

QCOM.ONasdaq
+0.00(+0.00%)
QCOM.O

Bloomberg, which first reported the layoffs, said the size of the job cuts is large enough that Qualcomm will have to file a WARN notice, or Worker Adjustment and Retraining Notification, with the state of California. Qualcomm had in January said it would implement a series of targeted reductions across businesses to save $1 billion in annual costs, as part of its attempt to win over investors support against a hostile bid from rival Broadcom Inc. The bid, however, was canceled by the Trump administration on national security grounds. The chipmaker has been ramping up its operations since then to improve earnings growth. Nick Note: I seem to remember that the a ha ha tax Break Bonanza for Billionaires was suppose to have these big companies creating jobs not killing them off: Shit i am sure glad this is not a coal  mine or steel mill. Trump would send Cohen and Vinny two fingers!

Global debt has reached a record high, IMF says, and three countries are to blame

Getty Images Global debt’s at a record high, and three of the leaders photographed — Donald Trump, Xi Jinping and Shinzo Abe — represent countries that account for more than half of it.

Global debt has reached a record high, and three countries account for more than half of it, according to a new International Monetary Fund report released Wednesday. The IMF’s fiscal monitor said total debt reached $164 trillion in 2016, or 225% of global GDP. That includes both the debt of governments as well as households and companies. Compared with the previous peak in 2009, the world is now 12% of GDP deeper in debt, the IMF said. Just three countries — China, Japan and the U.S. — account for more than half of global debt, and China alone accounts for almost three-quarters of the increase in private debt since the financial crisis.

The IMF warns that countries with elevated government debt are vulnerable to a sudden tightening of global financing conditions, and it said advanced economies were resting on their laurels, with deficits remaining unchanged on average.

It said the U.S. was the only advanced economy expecting an increase in debt-to-GDP ratio over the next five years. That’s due to the recently enacted tax cuts as well as the big increase in spending. The IMF said its U.S. forecasts are similar to those published by the Congressional Budget Office.

As GOP balks, McConnell shuts down bill to protect Mueller

WASHINGTON (AP) — Senate Majority Leader Mitch McConnell on Tuesday thwarted a bipartisan effort to protect special counsel Robert Mueller’s job, saying he will not hold a floor vote on the legislation even if it is approved next week in the Senate Judiciary Committee. McConnell said the bill is unnecessary because President Donald Trump will not fire Mueller. “We’ll not be having this on the floor of the Senate,” McConnell said on Fox News. His comments came amid widespread opposition to the bill among members of his caucus, with several GOP senators saying the bill is unconstitutional. Others said it’s simply not good politics to try and tell Trump what to do, likening the legislation to “poking the bear.” The bipartisan legislation was introduced last week as Trump publicly criticized Mueller, who is investigating potential ties between Russia and Trump’s 2016 campaign as well as possible obstruction of justice by the president. Trump, fuming about a raid of his personal lawyer’s office by a different division of the FBI, said last week that the Mueller investigation is “an attack on our country” and is “corrupt.” Trump has also privately pondered firing Deputy Attorney General Rod Rosenstein, who is overseeing Mueller’s investigation. Within a day of Trump’s criticism, Republicans Thom Tillis of North Carolina and Lindsey Graham of South Carolina combined two bills they introduced last summer to protect special counsels. They introduced the new bill along with Democratic Sens. Chris Coons of Delaware and Cory Booker of New Jersey, and Senate Judiciary Chairman Chuck Grassley, a Republican, announced that his committee would vote on the bill. Coons bristled at the criticism that the legislation is unconstitutional, noting that several courts have upheld similar special counsel statutes. “If I were convinced this were unconstitutional, I would not be moving it,” said Coons, a lawyer. “Just as a practical matter, even if we pass it, why would he sign it?” McConnell said in the Fox interview. Republicans who have talked to the White House almost uniformly have held the line that Trump will not fire Mueller or Rosenstein — including Tillis and Graham, who say they are pushing the legislation because it would be good policy under any president. Tillis acknowledged last week that he had taken some “heat” from conservatives for the bill, but told the Judiciary panel, “this is really an opportunity to take an ethical stand, and not do it when the situation benefits you.” Virginia Sen. Mark Warner, the top Democrat on the Senate intelligence committee, said the special counsel bill is “so much more” than another policy debate. “I think this will be one that history will judge us all,” Warner said.

Model claiming Trump secrets blames US for Thai prosecution

Vashukevich arrives with an unidentified fellow detainee at a holding cell to face trial in Pattaya
Vashukevich arrives with an unidentified fellow detainee at a holding cell to face trial in Pattaya (AFP Photo/Lillian SUWANRUMPHA)

Pattaya (Thailand) (AFP) – A Belarusian model detained in Thailand changed tack and hurled accusations at the United States on Tuesday, the latest twist in a case that first grabbed headlines after she made cryptic offers to reveal secrets about alleged Russian meddling in the 2016 US election. Anastasia Vashukevich, known by her pen name Nastya Rybka, has been held in Thailand since she and nine other foreigners were arrested in February by police who raided their “sex training course” in the seaside city of Pattaya. They were initially charged with lacking work permits but some are now facing additional charges of soliciting prostitution and criminal association, according to Apichai Krobpetch, Pattaya’s police chief. Reporters were barred from observing a plea hearing over the work permit charge on Tuesday and court officials refused to comment on the proceedings. But in brief remarks to reporters as she and other defendants were escorted back into a police van after the hearing, Vashukevich said she was “wrong” for initially thinking the Russian government was behind the prosecution.

“It is not the Russian state which is trying to get us jailed, it is the Americans,” she said.

“Why are they trying to prevent us from disclosing the information we have here in Thailand to the Americans?” she added. Vashukevich, who is embroiled in a political scandal back in Russia, first made international headlines after she addressed American journalists in a desperate video posted on Instagram after her arrest in February. “I am ready to tell you about all those missing puzzle pieces that you lacked… regarding a link between our esteemed lawmakers and (Paul) Manafort, Trump and all this brouhaha, the US elections,” she said in the video. The model, who has written a book about seducing oligarchs, has not substantiated her claims but does have links to Russia’s elite. She and her associate Alex Kirillov, a self-styled Russian sex guru who was among those detained and brought to court on Tuesday, are facing a lawsuit back in Russia filed by billionaire tycoon Oleg Deripaska. Deripaska, one of several Russian oligarchs sanctioned by the US this month, sued the pair over footage Vashukevich filmed purporting to show him treating an influential deputy prime minister, Sergei Prikhodko, to lavish hospitality on his yacht. The video went viral after it was published by top Kremlin critic Alexei Navalny in February. Deripaska, who Washington has accused of operating for the Russian government, denied any wrongdoing. Vashukevich and Kirillov have expressed fear of being deported back to Russia and previously called on the US for help. The US embassy in Bangkok has repeatedly declined to comment on the case.

Deripaska, an aluminium tycoon, was once an associate of US President Donald Trump’s ex-campaign manager Paul Manafort.

Manafort has been indicted on money-laundering and tax-related charges as part of the special counsel’s investigation into Russian interference in the 2016 US election.

Fox’s Hannity revealed as mystery client of Trump’s personal lawyer

FOX NEWS HANNITY RECEIVES FREE LEGAL SERVICES FORM TRUMPS PERSONAL ATTORNEY! TALK ABOUT CONFLICT OF INTERESTS

AND PAID FOR SERVICES

 

NEW YORK (Reuters) – U.S. President Donald Trump’s personal lawyer was forced on Monday to reveal in a New York federal court that Fox News personality Sean Hannity, one of Trump’s most ardent defenders, was also on his client list. Michael Cohen, Trump’s fiercely loyal and pugnacious lawyer, disclosed Hannity’s name through one of his own lawyers at the order of the judge. Stormy Daniels, an adult-film actress who says she had a sexual encounter with Trump, watched from the public gallery. Daniels, in a separate civil case, is fighting a 2016 non-disclosure agreement arranged by Cohen in which she got $130,000 to stop her from discussing her claim she had sex with Trump a decade earlier, something Trump has denied.

Hannity, 56, said on Monday that he had never paid for Cohen’s services or been represented by him, but had sought confidential legal advice from him

.The conservative host often uses his weeknight broadcast on Fox News to defend the president against what he sees as biased attacks by the media. Sometimes Trump praises Hannity in return. Cohen was in court to ask the judge to limit the ability of federal prosecutors to review documents seized from his offices and home last week as part of a criminal investigation, which stems in part from a probe into possible collusion between Trump’s presidential campaign and Russia. The Russia investigation has frustrated the White House as it has spread to enfold some of Trump’s closest confidantes. Nick Note: The biggest cheerleader and apologist and spin doctor of Trump receives FREE legal advise from Trumps personal lawyer. So much for free, fair and unbiased reporting! HIS ENDORSEMENTS OF THE PRESIDENT ARE PAID FOR !  I am amazed people fall for this BULLSHIT!

New York Manufacturing Index Drops More Than Expected In April

A report released by the Federal Reserve Bank of New York on Monday showed a notably slower pace of growth in New York manufacturing activity in the month of April. The New York Fed said its general business conditions index fell to 15.8 in April from 22.5 in March, although a positive reading still indicates growth in regional manufacturing activity. Economists had expected the index to drop to 18.6. Nick Note: the economy was suppose to be picking up not plunging!

Mattis: Syria Strikes a ‘One-Time Shot,’ Further Operations Will Depend on Assad

Defense Secretary Jim Mattis said that whether the United States will launch further attacks against the Syrian regime will depend on whether Syrian President Bashar al-Assad uses chemical weapons again.

“That will depend on Mr. Assad,” Mattis said at a Pentagon briefing Friday night, when asked whether there would be more military operations, following U.S., French, and British strikes against Syrian chemical weapons facilities.“Right now, this is a one-time shot. We believe it has sent a strong message to deter him from doing this again,” he told reporters. “Right now we have no additional attacks planned.” Briefing alongside Mattis, Chairman of the Joint Chiefs of Staff Marine Gen. Joseph Dunford said Friday night’s strikes differed from those Trump ordered a year ago, after the Syrian regime conducted a chemical weapons attack in the Syrian town of Khan Sheikhoun. While last year’s strikes were done unilaterally, and hit one target — a Syrian regime airfield that housed about 17 percent of its air force –  Dunford said Friday’s strikes were conducted with two allies on multiple sites and would “result in a long-term degradation of Syria’s capability to develop chemical weapons.” “Important infrastructure was destroyed. They will lose years of research and development data, specialized equipment, and expensive chemical weapons precursors,” he said. “The strike was not only a strong message that their actions were inexcusable, but it has inflicted damage without unnecessary risk to innocent civilians,” he added.The first target was a military scientific research center in the greater Damascus area – used for research, development, production and testing of chemical and biological weapons, he said.  The second target was a chemical weapons storage facility west of Homs that U.S. and allied officials assessed was the “primary location” of sarin production. The third target was a facility for chemical weapons equipment storage and “an important command post,” he said. Deconfliction was part of the U.S.’s efforts to avoid hitting Russian forces in Syria that could lead to a military conflict in Syria between the two nations. Mattis was reportedly concerned about hitting Russian and Iranian targets, but he said the U.S. and allies “specifically identified” targets to mitigate the risk of Russian forces being involved.

“We used our normal deconfliction channels. Those were active this week to work through the air space issues and so forth. We did not do any coordination with the Russians on the strikes, nor did we pre-notify them.”

Mattis also addressed the evidence showing that the Syrian regime had conducted the chemical weapons attack, amid allegations that it was fabricated and his own doubts expressed Thursday afternoon. He said he became convinced Thursday, after he expressed those doubts. “I am confident the Syrian regime conducted a chemical attack on innocent people in this last week. Absolutely confident. We have the intelligence level and confidence that we needed to conduct the attack,” he said.At the same time, he said, the U.S. had no intention to expand the strike further than chemical weapons-type targets.  “We were not out to expand this. We were very precise and proportionate, but at the same time, it was a heavy strike,” he said. “Based on recent experience, we fully expect a significant disinformation campaign over the coming days by those who have aligned themselves with the Assad regime,” he said. Nick Note: All this begs the question If the US new they had significant chemical weapons storage and manufacturing capacity. Why was Russia not confronted. Since they represented to  the world they destroyed all chemical weapons stockpiles years ago?

Comey says Trump reacted to news of Russian meddling by asking if it changed election results

Comey says Trump reacted to news of Russian meddling by asking if it changed election results
© Getty
 Former FBI Director James Comey writes in his upcoming book that President Trump‘s initial reaction to news that the intelligence community had concluded Russia was responsible for meddling in the U.S. election was to ask whether officials were sure it had no impact on the result.

In excerpts of Comey’s book “A Higher Loyalty: Truth, Lies, and Leadership” obtained by Reuters, the former FBI chief describes an intelligence briefing with Trump, who was then president-elect, in which top officials informed him about Russian meddling.

“I recall Trump listening without interrupting, and asking only one question, which was really more of a statement: ‘But you found there was no impact on the result, right?’ ” Comey writes. He added that the officials had come to no such conclusion.

“What I found telling was what Trump and his team didn’t ask,” Comey added. “They were about to lead a country that had been attacked by a foreign adversary, yet they had no questions about what the future Russian threat might be.” Comey goes on to say that while top intelligence officials were in the room, Trump campaign members began plotting how to “spin” the news in the briefing. “They were keen to emphasize that there was no impact on the vote, meaning that the Russians hadn’t elected Trump,” Comey says. Trump has frequently been criticized for not acting to punish Russia over meddling in the 2016 election, and his administration has often been accused of not doing enough to protect America’s election systems from future attacks.

Numerous members of the Trump campaign have also been ensnared in the ongoing special counsel investigation into possible collusion with Russian state actors during the 2016 election, though no collusion-related charges have been filed so far.

Comey’s book is due to be released next week.

Nick Note: You really really really need to read it. This is a book by a honest man caught in a quandary. He made mistakes BUT NOT WITH EVIL INTENT. You will soon learn by what I mean about evil intent as the truth about Trump comes out.

Trump announces strikes on Syria following suspected chemical weapons attack by Assad forces

“Clearly, the Assad regime did not get the message last year,” Defense Secretary Mattis said. “This time, our allies and we have struck harder.”

by Daniel Arkin, F. Brinley Bruton and Phil McCausland

President Donald Trump on Friday ordered the United States military — in conjunction with France and the United Kingdom — to launch strikes on Syria in retaliation for a suspected chemical weapons attack by the regime of President Bashar al-Assad on a Damascus suburb last week. The president said the U.S. would aim to hit sites “associated with the chemical weapons capabilities” of Assad’s regime. “We are prepared to sustain this response until the Syrian regime stops its use of prohibited chemical agents,” Trump said in remarks from the White House, adding that the U.S. and its allies had “marshaled their righteous power.” Trump urged Iran and Russia to withdraw their support for what he called Syria’s “barbarism and brutality.”

 In a direct address to the two countries, he asked, “What kind of a nation wants to be associated with the mass murder of innocent men and women and children?”  On Saturday Putin reaffirmed Russia’s view that the purported chemical attack was a fake, criticizing the U.S. and its allies for launching the strike without waiting for inspectors from the international chemical weapons watchdog to visit the area. The Organisation for the Prohibition of Chemical Weapons said later Saturday that its fact-finding team would continue a planned deployment to Syria to help establish the facts around the suspected chemical weapons attack in Douma. The airstrikes drew support from the European Union, Germany, Israel and other allies while British Prime Minister Theresa May said reports indicate the Syrian government used a barrel bomb to deliver the chemicals used in an attack on Douma. She said the use of force was “right and legal” in this case.
 Gen. Joseph Dunford, chairman of the Joint Chiefs of Staff, said the U.S. and its partners launched the attack at 9 p.m. ET and struck multiple targets associated with Syria’s chemical weapons program. Those targets included a scientific research center in Damascus, a chemical weapons storage facility near Homs, Syria, and a chemical weapons equipment and military outpost close to the second target. Trump tweeted early Saturday morning in praise of what he called “a perfectly executed strike.

Clearly, the Assad regime did not get the message last year,” Mattis said. “This time, our allies and we have struck harder. Together, we have sent a clear message to Assad, and his murderous lieutenants, that they should not perpetrate another chemical weapons attack for which they will be held accountable.”

Thank GOD Mathis prevailed a great American General

Mattis said the strike was a “single shot” aimed to deter the Syrian regime from using chemical weapons. Whether the United States and its allies will pursue further action in Syria would “depend on Mr. Assad should he decided to use more chemical weapons in the future,” the secretary said.  “We believe that the strikes we have taken last night have had a significant impact in terms of what the Syrian regime can do in the future,” Williamson said. Nick Note: Job well done. this is not Trump who wanted a Holocaust. Thank GOD calmer heads prevailed and General Mattis ran the show. I rate this as over for now. I see no escalation. By the way sources told me the Russian maned SU4 anti aircraft missile system was not even turned on. Meaning the Russians stood down. Please not the US gave the Russians a precise target list and the time of the attack !

Trump FIXATED ON GOLDEN SHOWERS

Comey reveals Trump as fixated on proving the tape claim was false. The very first time they met was when Comey privately told the then-president elect about the dossier- drawn up by ex-British spy Christopher Steele – which alleged there was a ‘kompromat’ tape from his visit to Moscow.  It purported to show Russian prostitutes defiling a bed in the Moscow Ritz-Carlton where President Barack Obama and First Lady Michelle Obama had stayed – because Trump wanted to humiliate the president. Comey told him it was in wide circulation and later it was published by Buzzfeed. Comey says Trump interrupted him as he described the material in the dossier. He ‘strongly denied the allegations, asking — rhetorically, I assumed — whether he seemed like a guy who needed the service of prostitutes.  ‘He then began discussing cases where women had accused him of sexual assault, a subject I had not raised. He mentioned a number of women, and seemed to have memorized their allegations.’ He describes Trump as ‘obsessed’ with the portions of the dossier dealing with prostitutes.  But amazingly, that was not to be the last time Trump issued a specific denial. Days before his inauguration there was a phone call where Trump said he was a ‘germophobe’. ‘There’s no way I would let people pee on each other around me. No way,’ he said.  In the phone call he claimed that he had not stayed overnight in Moscow and had only used the room to change his clothes. ‘I decided not to tell him that the activity alleged did not seem to require either an overnight stay or even being in proximity to the participants,’ the Washington Post reveals Comey writes. That was not Trump’s last time on the subject. On March 27 in the course of another call he said: ‘Can you imagine me, hookers.’ ‘In an apparent play for my sympathy, he added that he has a beautiful wife and the whole thing has been very painful for her.’  Former Playboy model Karen McDougal, who claims she had an affair with Trump, says he once tried to pay her after sex. ‘After we had been intimate, he tried to pay me, and I actually didn’t know how to take that,’ she told CNN. The White House has denied Trump was involved with the women who have accused him of having affairs. Obama knew about the allegations and asked Comey the day before the FBI boss and other intelligence chief were due to meet Trump who would tell the president-elect about the dossier. ‘He raised and lowered both of his eyebrows with emphasis, and then looked away,’ Comey writes. ‘To my mind his Groucho Marx eyebrow raise was both subtle humor and an expression of concern.’  Nick Note: Please open you mind to the FACT the much discredited “Dossier” is real! although not proven …….. YET! It sure has hell has not been disproven except on FOX news.  The President is a whore monger. SO! you don’t care. I don’t care. But he cares and his wife cares. Now if you had any doubt i ask you to LISTEN to what he said on the BUS tape. He admitted to his penchant of sexual needs of the pinching kind!! YOU NEED TO READ THE BOOK! DO NOT LET FOX NEWS DO YOUR THINKING FORYOU

 

GOP Congressman Rips Trump in Insane Tirade to Journo: ‘Evil, Really F*cking Stupid Forrest Gump’

This strange — but insane — tale begins with Erick Erickson wandering the aisles of a Safeway supermarket. He’s accompanied by a Republican congressman who regularly appears on Fox News to defend President Donald Trump. “If we’re going to lose because of him, we might as well impeach the motherfucker,” the unnamed congressman told Erickson. That’s according to a new post from the conservative commentator, who wrote about his encounter with “[one] of the President’s congressional defenders” who “has privately decided he hates Trump and wants to unload.” “The congressman did not want to be seen with me on Capitol Hill,” Erickson explains. “He needed to get some stuff anyway and decided he’d let me walk with him through the cereal and dairy selections at the Safeway near my hotel.”

Erickson continues:

He is not happy with President Trump. He was never a die hard Trump supporter. He supported him in the general and never expected him to win. But he did. So the congressman, whose district Trump won, has been a regular supporter on Fox News and elsewhere defending the President. He is happy to be quoted, so long as I don’t name him. He says he just needs to vent. I suggest what we’re doing is one of the reason’s Trump won — a congressman says nice things in public and bad things in private.

“Everybody does this shit,” the congressman said.

“I read you writing about this, about wanting to say nice things when you can and criticize when you need to. He may be an idiot, but he’s still the President and leader of my party and he is capable of doing some things right,” he continued. “But dammit he’s taking us all down with him. We are well and truly fucked in November. Kevin [McCarthy] is already circling like a green fly circling shit trying to take Paul’s [Ryan] job because nobody thinks he’s sticking around for Nancy [Pelosi]. She’s going to f**k up the cafeteria again too. [Lord’s name in vain], at least I’ll probably lose too and won’t have to put up with that shit.”

“He won’t lose,” Erickson notes. “His district is very Republican.”

And then, the congressman got colorful:

“It’s like Forrest Gump won the presidency, but an evil, really fucking stupid Forrest Gump. He can’t help himself. He’s just a fucking idiot who thinks he’s winning when people are bitching about him. He really does see the world as ratings and attention. I hate Forrest Gump. I listen to your podcast and heard you hate it too. What an overrated piece of shit movie. Can you believe it beat the Shawshank Redemption?”

The congressman continued that “they just might pull the trigger if the President fires Mueller,” and that “shit will hit the fan if that happens and I’d vote to impeach him myself.”

“Most of us [Republicans] would, I think,” he added. “If we’re going to lose because of him, we might as well impeach the motherfucker. Take him out with us and let Mike [Pence] take over. At least then we could sleep well at night.”

And now for the grand f*cking finale:

“I say a lot of shit on TV defending him, even over this. But honestly, I wish the motherfucker would just go away. We’re going to lose the House, lose the Senate, and lose a bunch of states because of him. All his supporters will blame us for what we have or have not done, but he hasn’t led. He wakes up in the morning, shits all over Twitter, shits all over us, shits all over his staff, then hits golf balls. Fuck him. Of course, I can’t say that in public or I’d get run out of town.” Nick Note: All i can say is amen brother!

Donald Trump warns Putin his missiles are coming ‘fast and smart’ after Russia vowed to bomb US sites if it strikes Assad

‘GET READY RUSSIA!’

Russia’s ambassador to Lebanon insisted Russia would strike back against any military action taken by US President Trump

DONALD Trump has told Russia to “get ready” warning that American “smart” missiles are heading to Syria after Moscow insisted it would shoot down US rockets. The US President issued the extraordinary threat on Twitter following comments from senior Russian officials that Vladimir Putin’s military would strike US bomb sites in retaliation to American aggression.

Trump tweeted: “Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and “smart!” You shouldn’t be partners with a Gas Killing Animal who kills his people and enjoys it!” Alexander Zasypkin, Russia’s ambassador to Lebanon, said Putin would destroy American missiles if Washington carried out a retaliatory strike. “If there is a strike by the Americans then … the missiles will be downed and even the sources from which the missiles were fired,” he told Hezbollah’s al-Manar TV. Yevgeny Serebrennikov, deputy chairman of Moscow’s Defence Committee, also said Russia would respond “immediately” to a US attack on Russia’s soldiers in Syria. “At the same time, we expect that in the event of US strikes, if any, the lives of our servicemen will not be in danger. Nick Bit: As i have need warning the closer trump gets to impeachment the more crazy he would get. I was afraid he would attack N.Korea i was wrong. Its Syria he has selected…… He who GOD is about to destroy he makes crazy first!!

U.S. Producer Prices Rise More Than Expected In March

Producer prices in the U.S. increased by more than expected in the month of March, according to a report released by the Labor Department on Tuesday.The Labor Department said its producer price index rose by 0.3 percent in March after edging up by 0.2 percent in February. Economists had expected producer prices to inch up by 0.1 percent. Excluding food and energy prices, core producer prices also increased by 0.3 percent in March after rising by 0.2 percent in the previous month. Core prices had been expected to rise by 0.2 percent. The wholesale cost of services such as medical care, cable TV and plane travel all rose sharply last month and accounted for most of the increase in the PPI. Wholesale cable costs rose 3.6%, the biggest increase since the government began keeping track in 2009. The cost of wholesale goods also increased even as energy costs declined. Food prices posted the biggest increase since 2014. The cost of iron and steel scrap also jumped 4.3%, likely reflecting a runup in prices ahead of the Trump administration’s announcement it would impose tariffs on foreign steel. The so-called core rate of wholesale inflation rose a sharp 0.4% for the third month in a row. The core rate is a closely watched category that excludes food, energy and retail-trade margins. The yearly rate of core inflation moved up to 2.9% from 2.7% Nick Note: this all the ammunition the FED needs to raise rates 3 more times this year.

Trump blasts FBI raid on Michael Cohen as “disgraceful situation”

At the start of a meeting with senior military leadership Monday night, President Trump blasted the FBI’s raid of his personal lawyer’s office, calling it a “disgraceful situation” and an “attack on our country in a true sense … an attack on what we all stand for.”  This is a consistent response from Trump, who has accused the probe of unfairly targeting him and who has lashed out against his attorney general for failing to restrain its spread. “It’s a total witch hunt. I’ve been saying it for a long time. I’ve wanted to keep it down. I’ve given over a million pages in documents to the special counsel. “They continue to just go forward and here we are talking about Syria, we’re talking about a lot of serious things … and I have this witch hunt constantly going on for over 12 months now. Actually it’s much more than that. You could say right after I won the nomination it started.” “This is the most biased group of people. These people have the biggest conflicts of interest I have ever seen … Either Democrats or a couple of Republicans who worked for President Obama. They’re not looking at the other side — Hillary Clinton … They only keep looking at us. ” Trump also criticized Attorney General Jeff Sessions for recusing himself from the Russia investigation: “[H]e made what I consider to be a very terrible mistake for the country. But you’ll figure that out.” And he went after James Comey: “Well I turned out to do the right thing [firing former FBI Director James Comey.] If you look at all of the things he’s done and the lies, and you look at what’s going on at the FBI … turned out I did the right thing.” He also said a response to Syria is coming as soon as tonight: “We’re going to make a decision tonight or shortly thereafter … We can’t let that happen in our world, especially when we’re able to — because of the power of the United States — we’re able to stop it.”  Nick Note: Trump has got big problems. we are headed for a presidential crises

Trump lobbied against fire-sprinkler laws for skyscrapers in 1990s

No violations found after deadly fire in Trump Tower
Reuters Damaged windows are seen after a fire broke out in an apartment in Trump Tower on Saturday.

Donald Trump pushed to block a requirement for fire sprinklers in city high-rises in the late 1990s.

Two decades before he was president, Trump got political when he spent thousands of dollars lobbying City Council members not to pass the bill — because it would be too expensive for his apartment buildings.

He gave $5,000 to then-Speaker Peter Vallone while also personally calling committee Chairman Archie Spigner and bill sponsor Walter McCaffery, it was reported at the time. Trump estimated that the move would cost $4 per square foot at the time — about $6 per square foot today. The council ultimately passed Local Law 10 in 1999 mandating sprinklers in halls and apartments of all residential buildings with four or more units. But Trump Tower — where 67-year-old Todd Brassner died during a four-alarm blaze Saturday — was grandfathered in and would not have to comply with the new rule unless the building underwent significant renovations, which it never did, according to a rep from the Department of Buildings on Sunday. Still, Trump said at the time that he would spend $3 million to outfit Trump World’s 370 units with sprinklers because it would make tenants feel safer, according to a New York Times article from the era. Meanwhile, the commercial portions of Trump Tower have their required fire sprinklers, the DOB rep said. Nick Note: Reports indicate the sprinklers were never insulated in the residential section of Trump Tower. Let them burn!

Blaze on 50th floor of Trump Tower in New York kills 1

 NEW YORK (AP) — A raging fire that tore through a 50th-floor apartment at Trump Tower killed a man inside and sent flames and thick, black smoke pouring from windows of the president’s namesake skyscraper. New York Fire Commissioner Daniel Nigro said the cause of Saturday’s blaze is not yet known but the apartment was “virtually entirely on fire” when firefighters arrived after 5:30 p.m. “It was a very difficult fire, as you can imagine,” Nigro told reporters outside the building in midtown Manhattan. “The apartment is quite large.” Todd Brassner, 67, who was in the apartment, was taken to a hospital and died a short time later, the New York Police Department said. Property records obtained by The Associated Press indicate Brassner was an art dealer who had purchased his unit in 1996. Officials said four firefighters also suffered minor injuries. An investigation is ongoing. Shortly after news of the fire broke, President Donald Trump, who was in Washington, tweeted: “Fire at Trump Tower is out. Very confined (well built building). Firemen (and women) did a great job. THANK YOU!” Asked if that assessment was accurate, Nigro said, “It’s a well-built building. The upper floors, the residence floors, are not sprinklered.”

Fire sprinklers were not required in New York City high-rises when Trump Tower was completed in 1983. Subsequent updates to the building code required commercial skyscrapers to install the sprinklers retroactively, but owners of older residential high-rises are not required to install sprinklers unless the building undergoes major renovations.

Some fire-safety advocates pushed for a requirement that older apartment buildings be retrofitted with sprinklers when New York City passed a law requiring them in new residential highrises in 1999, but officials in the administration of then-mayor Rudy Giuliani said that would be too expensive. Nick Note: the truth is many many other “luxury” building built at the time had sprinklers.. The building was designed to have sprinklers and such was represented to buyers. Trump decided to cut costs and not install them in the condo section…. (other sections have them) AND the Trump organization lobbied hard to not retrofit them. This is the third fire in that shoddy substandard building.. BUT ITS THE ART OF THE DEAL IS IT NOT?

Veteran trader Art Cashin: We were close to having potential market ‘bloodbath’

“We were very close to having a potential bloodbath on the close,” Art Cashin
Stocks tumble on fears of trade war, rate hikes
Stocks tumble on fears of trade war, rate hikes 15 U.S. stocks plunged on Friday, but things could have been much worse

The Dow Jones industrial average ultimately ended 572.46 lower, at one point it was down as much as 767.02 points. Cashin, UBS director of floor operations at the New York Stock Exchange, said at one point that during that low “the indication was for well over $1 billion for sale on the bell. Luckily that pared off.” Had it come to fruition, Cashin said, stocks “would have closed in a very ugly fashion, probably on the lows of the day.” Fears of a potential trade war weighed on the market as the conflict between the U.S. and China appeared to escalate. After China announced new tariffs on 106 U.S. products Wednesday, President Donald Trump threatened $100 billion in additional tariffs against China. China’s Commerce Ministry said Friday the country will not hesitate to react with a “major response” to the new U.S. tariffs.

“You’re getting a heightened degree of nervousness, not full panic quite yet,” Cashin said.

He expects the market to be “jumpy” for several days because “both sides want to declare victory.” China President Xi Jinping “wants to say he’s protecting the Chinese people from the trading aggression of the United States and Mr. Trump wants to say very much the same thing on the other side,” Cashin said. However, he said there may be some “big help” early next week when Xi is expected to give a big speech. Everyone will be watching to see if he wades into the trade issue and where things may go from there, Cashin said. Nick Note: We are in a trade war. The economy will tank. The stock market will crash. And you will be wiped out unless you know exactly what you must do NOW to survive.

Guggenheim investment chief sees a recession and a 40% plunge in stocks ahead

Scott Minerd, Guggenheim Partners
Scott Mlyn | CNBC Scott Minerd, Guggenheim Partners

Guggenheim’s head of investing sees a tough road ahead for the market and economy, with a sharp recession and a 40 percent decline in stocks looming. Scott Minerd, who warned clients in a recent note that the market is on a “collision course with disaster,” expects the worst of the damage to start in late 2019 and into 2020. Along with the decline in equities, a rise in corporate bond defaults is likely as the Federal Reserve raises interest rates and companies struggle to pay off record debt levels. “Ultimately, when the chickens come home to roost and we have a recession, we’re going to see a lot of pressure on equities especially as defaults rise, and I think once we reach a peak that we’ll probably see a 40 percent retracement in equities.” One of the main problems is that Congress and President Donald Trump have pushed through aggressive fiscal policies at a time when the Fed is looking to control growth with higher interest rates and less accommodative monetary policy. Corporate debt currently stands at a record $8.83 trillion, according to Securities Industry and Financial Markets Association data. Higher rates will make it harder for companies to refinance and will put pressure on them once the stimulative effects of tax cuts wear off, Minerd said Once short-term rates hit 3 percent, that will be enough to drive up defaults and cause a recession, he added. “As interest rates keep ratcheting higher, with record levels of corporate debt it’s going to be harder and harder to service,” Minerd said. “At some point, as the economy starts to mature and as cash flows start to stabilize and decline, it’s going to be difficult for everybody to pay this interest.” “Defaults are going to be concentrated in corporate America, where in the past downturn they were basically focused in areas of consumer activity,” he added. Nick Note besides a stock market crash.. The biggest ever. The masses will be wiped out. the majority of their investments are in HA HA HA  high yielding corporate debt that will be worthless… And so will their retirement accounts…..

Market volatility is reminiscent of the 1987 crash: Veteran trader Art Cashin

“It’s a good deal more volatile than almost anything else you’ve seen,” Cashin says.

UBS Financial Services Managing Director Art Cashin said this year’s market volatility reminds him of the 1987 stock market crash. “It’s a good deal more volatile than almost anything else you’ve seen,” said Cashin, who began his career at Thomson McKinnon in 1959. “It is unfortunately reminiscent of some of the volatility we saw in ’87,” he said Thursday on CNBC’s “Closing Bell.”Cashin, now one of six executive floor governors at the New York Stock Exchange, was referring to the volatile market that began on Oct. 19, 1987, in Asia before spreading to Europe and then the United States later in the day. The Dow Jones industrial average fell more than 500 points — or 22 percent — in a single day. The volatility moved across time zones the following morning, crashing markets in Australia and New Zealand. Market watchers have been on edge in recent weeks with looming fears of potential trade wars and increased scrutiny in the technology sector. Both the Dow and S&P have fallen into correction territory this year. At its low, the Dow was down 12 percent from January highs. The S&P is still down 7 percent from its January highs. Nick Note: Trump is out of control. Fed raising rates. Deficit soaring,  two Trillion dollars  added to the national debt in less then a year. Biggest bubble stock market EVER. Hell yes we are on the verge of the biggest stock market crash EVER. You have been warned when you get wiped out lose your house, your job, your business, your retirement fund DO NOT BLAME NICK!

Trump denies knowledge of payment to Stormy Daniels

President addresses scandal for the first time
Reuters President Donald Trump speaks to reporters aboard Air Force One on Thursday.

President Donald Trump publicly addressed the Stormy Daniels scandal for the first time Thursday, saying he did not know about the $130,000 payment his personal attorney made in exchange for her silence. Reporters questioned Trump aboard Air Force One, as the president was returning to Washington from a speech in West Virginia. When asked if he knew about the payment, Trump said “No.” Trump was then asked why his lawyer, Michael Cohen, made the payment. “You’ll have to ask Michael Cohen. Michael is my attorney. You’ll have to ask Michael,” he said. Trump added that he didn’t know where the money came from.

It was the president’s first public comments since the scandal broke in January. Daniels, the adult-film actress whose real name is Stephanie Clifford, claims she had an affair with Trump in 2006, and received a payment to ensure her silence days before the 2016 presidential election. Cohen formed a shell company to secretly pay Daniels as part of a non-disclosure agreement, and has said he made the payment on his own, without Trump’s knowledge. In an interview with CBS News’ “60 Minutes” last month, Daniels said she felt intimidated into keeping quiet about the affair, and felt afraid for the safety of herself and her family. She recently filed a lawsuit to dissolve the NDA she signed. Nick Note: I am to believe that control freak Donald Trump did not know that his PERSONAL lawyer paid off his porn star  whore to be silent.. Yea Right!

Bahrain discovers offshore oilfield ‘containing 80bn barrels’

Image copyright Getty Images
Image caption Appraisals suggest the Khaleej Al Bahrain basin contains 280 to 560 billion cubic metres of gas

Bahrain says a newly-discovered oil field contains up to 80bn barrels of tight (or shale) oil, dwarfing the Gulf island kingdom’s current reserves. Appraisals of the offshore Khaleej Al Bahrain basin by two US firms also suggest the presence of 280bn to 560bn cubic metres of natural gas. Oil Minister Sheikh Mohammed bin Khalifa Al Khalifa said it was not yet known how much oil could be extracted. But it could turn Bahrain into a major player in the global market. Officials expect extraction from the oil field to begin within five years, according to Bahrain’s national news agency. Before the discovery, Bahrain had proven crude reserves of just 125m barrels and 92bn cubic metres of natural gas. By comparison, neighbouring Saudi Arabia, the world’s top oil exporter, has 266bn barrels of proven reserves. Qatar, the top exporter of liquefied natural gas, has 24tn cubic metres of gas. In recent years, the Bahraini government had responded to its relatively small reserves and falling oil prices by seeking to diversify the economy into other sectors, such as financial services and tourism. Sheikh Mohammed told a news conference in Manama on Wednesday that the National Oil and Gas Authority aimed to attract foreign oil and gas firms to develop the Khaleej Al Bahrain field, which covers 2,000sq km. An agreement had already been reached with Halliburton to drill two further appraisal wells this year to “further evaluate reservoir potential, optimise completions, and initiate long-term production”, he said. Bahrain currently produces about 50,000 barrels of oil per day from the Bahrain Field, which was discovered in 1932. It also gets another 150,000 barrels per day from the Abu Saafa field, which it shares with Saudi Arabia. Nick Note: This is one big field and a game changer for Bahrain

US Is Net Natural Gas Exporter for 1st Time in 6 Decades Thanks to New Infrastructure

Liquefied natural gas tanker ship (Screenshot)

Natural gas has transformed the domestic energy industry. The United States now exports more natural gas than it imports – for the first time since 1957. While higher levels of production and the development of new sources such as the Utica and Marcellus shales have played a significant role, putting the energy transportation infrastructure in place is just as vital, as can be seen from the evolution of liquefied natural gas exports. From 1975 to 2015, annual LNG exports never exceeded 0.2 billion cubic feet per day. LNG exports more than doubled in 2016 to a then-record of 0.5 billion cubic feet per day. The key was putting the infrastructure in place to make higher exports possible and updating the process to review applications to export LNG to countries for which there is no free trade agreement in place. Without LNG exports, natural gas transportation to other countries is largely confined to pipelines, which face their own capacity constraints. In addition, pipelines are geographically limited to neighboring Canada and Mexico. The only previously active terminal in the country, Kenai LNG Terminal in Alaska, ceased operations in 2015. Fortunately, the approval and construction of new LNG terminals has substantially increased capacity and helped facilitate strong export growth.  The Sabine Pass terminal in Louisiana began service in 2016, and now has four active liquefaction units with another on the way. The Cove Point terminal in Maryland was put into service even more recently, with the first cargo of LNG shipped in March 2018. These two terminals alone increased export capacity to 3.6 billion cubic feet per day. The Sabine Pass terminal enabled LNG exports to quadruple, from 0.5 billion cubic feet per day in 2016 to 1.94 billion cubic feet per day  in 2017. The capacity to ship LNG to other countries has opened up more destination countries for exports, reaching 25 countries in 2017. Nick Note: Natural gas.. which is GODS GAS plug and play is the greatest transportation fuel know to man.  Virtually non polluting, cheap and in great abundance.And its great for generating electricity. Cheaper, cleaner and easier to transport then HA HA A clean coal which we all know is HA HA HA HA great again!

Bannon on trade-war angst: ‘To hell with Wall Street’

Steve Bannon thinks stock-market worries about trade are overwrought
Getty Images Steve Bannon thinks that Wall Street is unsympathetic to the plight of workers who voted for his former boss, Donald Trump.

“Ask the working people in Ohio, Pennsylvania and Michigan about Wall Street. Wall Street supported and cheered on the export of their jobs. To hell with Wall Street if they don’t like it. It’s time somebody stood up to them and Donald Trump is the perfect guy. Wall Street is always short term. Trump is trying to protect the beating heart of American capitalism – our innovation.”

Steve Bannon, President Donald Trump’s former chief strategist

Those are the choice words offered up by former aide to President Donald Trump Steve Bannon during an interview with Reuters published Wednesday, referencing the dim reaction by Wall Street to the White House’s recent trade tactics.  Wall Street investors have been sending a clear message of their own: protectionist policies are unwelcome because it could be disruptive to both economies and U.S. stocks. A deterioration in China-U. S. relations carries the biggest potential to foment global economic problems, according to Adam Slater, lead economist at Oxford Economics in a recent client note. Nick Note: having the factory workers of Ohio, Pennsylvania and Michigan deciding trade policy will doom the US economy to the scrap heap of history. Steal, Coal and people based manufacturing is a idea whose time has passed. Pandering to the unions and factory workers is a recipe for economic disaster. Face facts compute and robot automation is here. From self driving cars to peopless factories to robots interacting in our everyday life is upon us. They will cook your food, clean your homes, preform your medical exams, manufacture everything you use and even do surgery. The voices of Trump, Kudlow, Ross and Bannon are the voices of poverty, death and destruction.

Trump advisers urge against hasty US retreat from Syria

WASHINGTON (AP) — With a decision seemingly imminent about whether to bring home U.S. troops from Syria, President Donald Trump’s national security team is advising against a hasty withdrawal even as he makes his preference clear: “I want to get out.” Trump’s director of national intelligence, Dan Coats, told reporters Wednesday that the White House would announce a decision about America’s military involvement in the war-torn country “relatively soon.” Coats said national security officials held an “all-hands-on deck” meeting Tuesday and “some decisions were made.”Trump said he expects to decide “very quickly” whether to remove U.S. forces, saying their primary mission was to defeat the Islamic State group. “We’ve almost completed that task,” he said.

Trump’s comments to reporters at the White House on Tuesday conflicted with views of his military advisers, some of who spoke at a separate event in Washington about the need to stay in Iraq and Syria to finish off the militant group that once controlled large swaths of territory in both countries.

At a news conference with the leaders of the Baltic nations, Trump was asked whether he still favored pulling U.S. troops out of Syria. President Trump says he wants to pull U.S. troops out of war-torn Syria to bring them home.  “As far as Syria is concerned, our primary mission in terms of that was getting rid of ISIS,” Trump answered, using an acronym for the Islamic State group. “We’ve completed that task and we’ll be making a decision very quickly, in coordination with others in the area, as to what we will do.” “I want to get out. I want to bring our troops back home. I want to start rebuilding our nation,” he said. Nick Note: Contrary to the warnings of his senior advisers Trump has decided to pull the remaining troops out of Syria. Another decisions we will live to regret.

Trump attacks CNN president: ‘Little’ Jeff Zucker isn’t having much fun

Trump attacks CNN president: 'Little' Jeff Zucker isn’t having much fun
© Greg Nash

President Trump attacked CNN president Jeff Zucker Tuesday morning on Twitter, mocking the media executive in an early-morning tweet claiming Zucker’s job is in “jeopardy.” In the tweet, Trump attacked “low-ratings CNN” and insinuated that the news network will not hire a journalist unless they are “totally anti-Trump.” “Check out the fact that you can’t get a job at ratings challenged @CNN unless you state that you are totally anti-Trump? Little Jeff Zuker, whose job is in jeopardy, is not having much fun lately. They should clean up and strengthen CNN and get back to honest reporting!” the president tweeted.

“Once again, false,” CNN responded in a tweet.

“The personal political beliefs of CNN’s employees are of no interest to us. Their pursuit of the truth is our only concern. Also, Jeff’s last name is spelled Z-U-C-K-E-R. Those are the facts. #FactsFirst,” it added. Trump frequently lashes out at CNN over the network’s coverage of his administration, which he claims is biased against him and riddled with falsehoods. Trump has taken aim at the news network a number of times, including on Monday when the president took a shot at the network while defending Sinclair Broadcasting Group after its move to have its local news anchors warn of alleged bias in reporting by other media outlets. “So funny to watch Fake News Networks, among the most dishonest groups of people I have ever dealt with, criticize Sinclair Broadcasting for being biased,” Trump tweeted Monday. “Sinclair is far superior to CNN and even more Fake NBC, which is a total joke.” This came after CNN first reported on Sinclair requiring its anchors to read the bias warnings. Also on Monday, Trump’s 2020 campaign manager in a Tweet called for CNN reporter Jim Acosta to have his credentials revoked after the correspondent questioned Trump during the White House Easter Egg Roll. Brad Parscale shared an article from The Daily Caller, which reported that Acosta “yelled at Trump” during the event.  Parscale said in his tweet that he thinks it is time for Acosta to “get a suspension for breaking protocol.” “He continues to embarrass himself and @CNN,” Parscale wrote. “Pull his credentials for each incident.” Nick Note: This is the stuff Police States are made of.  If going unchecked the next is government to censor “fake News” and put journalists in Jail.

Stocks’ Second-Quarter Start Is the Worst Since the Great Depression

U.S. stocks had their worst April start since 1929, according to data compiled by Bloomberg. The S&P 500 index slumped 2.2 percent, a rout exceeded only by its 2.5 percent decline 89 years ago, a prelude to the devastating crash later that year that brought on the Great Depression. (Back then, the index only comprised 90 stocks.)  Sarah Ketterer, chief investment officer at Causeway Capital, says some tech stocks got ahead of themselves. If you feel like the second quarter began badly, you’d be right. China’s retaliatory trade tariffs combined with President Donald Trump’s criticism of Amazon.com Inc. to send equities into a tailspin Monday. Shares in the online retailer tumbled, encouraging a sell-off in consumer discretionary and technology stocks. The S&P 500 closed below its 200-day moving average — a key technical support — and volatility climbed. The stock slide also looked pretty bad when compared to the beginning of other quarters. Equities lost more than on any other quarterly first day since October 2011, when stocks plummeted 2.8 percent, Bloomberg data show. Nick Note: this is the start of the biggest stock market crash EVER. Sure their will be rally backs all designed to keep the suckers in the rigged Wall Street casino losing the maximum amount of money. I believe we will make a fortune… Our time has come!

Bahrain discovers largest oil field in country since 1932

The Persian Gulf island nation of Bahrain says it has discovered its largest oil field since the country’s first oil well began operation nearly 90 years ago. The government said Sunday that the new resource is “understood to dwarf Bahrain’s current reserves.” Details about the initial findings of size and extraction viability are to be released by the Oil Ministry at a news conference Wednesday. Bahrain says the tight oil and deep natural gas field was discovered off the west coast of the island in the Khaleej Al Bahrain Basin. The non-OPEC producer extracts oil from an offshore field it shares with Saudi Arabia and the onshore Bahrain field. Nick Note: OPEC is doomed!! they are on a fools mission. By the way this oil discovery is shale oil recovered by fracking. Previous “experts”  thought it was  worthless impossible to recover.

Japan survey shows corporate sentiment is worsening

TOKYO (AP) — A quarterly business outlook survey by Japan’s central bank shows corporate sentiment has worsened for the first time in two years. The Bank of Japan’s “tankan” index for large manufacturers, released Monday, was 24 in March, down two points from December. The forecast continued to be pessimistic with the index expected to fall to 20 over the next quarter. The survey is seen as a major economic indicator. The index is the difference between companies surveyed that have a “favorable” outlook and those with an “unfavorable” outlook. So the reading still shows optimists outnumber pessimists but that difference is starting to shrink. A looming U.S.-China trade war after President Donald Trump’s tariffs and China’s action in response could further hurt the Japanese economy. The results also show the momentum of growth under “Abenomics” could be running out of steam. Prime Minister Shinzo Abe has been trying to wrest the economy out of decades of doldrums by fighting deflation, a continuing spiraling down of prices that deadens the economy — an effort that has met with some success. But the Japanese economy is heavily dependent on exports and hurt by a shrinking of its labor force. “Softer than expected tankan for large manufacturers marked by first slippage, albeit modest, in eight quarters being attributed to a stronger Japanese yen,” says Vishnu Varathan, of the Asia and Oceania Treasury Department of Mizuho Bank. A strong yen erodes the value of Japan’s exports when converted into yen. Nick Note: Japan is being squeezed by two giants. The USA and China. They are in a lose lose situation in the Kim you Num Chucks craziness. And speaking of crazy Trump going spastic on trade sanctions removes predictability from the markets. When your investing billions in inventory and manufacturing unsettled trade is a untenable situation. Like many other people around the world they are just waiting for Trump to crash and burn and business sentiment reflects that fact.

CNN: Mueller to Use Gates’ Testimony to Tie Trump Campaign to Russia

Image: CNN: Mueller to Use Gates' Testimony to Tie Trump Campaign to Russia

Special counsel Robert Mueller seeks to use the testimony of former Trump campaign adviser Rick Gates to tie ex-chairman Paul Manafort to a Russian intelligence agency — in a direct effort to prove collusion between Republican Donald Trump’s White House effort and Moscow, CNN reported Thursday.Mueller’s investigators disclosed the approach in a federal court filing on Tuesday, which alleges that Gates had contact with a close colleague of Manafort’s who worked for a Russian intelligence agency. Gates also allegedly knew of the spy service’s ties in September and October 2016, when he worked on the Trump campaign, CNN reported.Under his plea deal last month, Gates would have to discuss the communication if prosecutors wanted. He also could be called to testify against Manafort, who has pleaded not guilty to charges in two federal criminal cases stemming from Mueller’s investigation. Both Gates and Manafort are facing charges from work completed before the presidential election.

In Tuesday’s filing, Mueller’s team said that specifics of Gates’ contact with the Russian spy during the campaign was “pertinent to the investigation” of possible Russian collusion and interference in the 2016 presidential election, CNN reported.

However, “the extent of Gates’ knowledge about any such contact or what he told prosecutors hasn’t been made public,” according to the report. Nick Note: Face facts Trump is corrupt and the evidence mounts. This taken with Bannon, Cambridge Analytical and their connection to Russia is game, set, match. See you in November!

GOP Sen: Trump ‘needs to understand’ effect of firing people on Twitter

Sen. Ron Johnson (R-Wis.) says President Trump “needs to understand the effect” that firing top administration officials via Twitter has on recruiting new members of his Cabinet. In an interview set to air Sunday on NBC’s “Meet the Press,” Johnson said he personally would not have taken to social media to dismiss top advisers. “It’s not the way I’d do it,” Johnson said. “I think the president does need to understand the effect it has on attracting other people.” Johnson’s comments came after Trump announced via Twitter on Wednesday that he had tapped White House physician Ronny Jackson to replace David Shulkin as his Veterans Affairs secretary. Shulkin’s ouster was the third dismissal of a top Trump administration official in a matter of three weeks. Trump abruptly fired Secretary of State Rex Tillerson on the social media site on March 13, and announced he would nominate CIA Director Mike Pompeo to replace him.  That was followed nine days later by the president’s announcement, also on Twitter, that he had chosen former U.S. Ambassador to the United Nations John Bolton to replace H.R. McMaster as his national security adviser. Nick Note: obviousley Trump is out of control Hear my words. Either way this goes it will end very very badly for America… So Sad

Chicago PMI falls to lowest level in a year in March

Index declines 4.5 points to 57.4%
Getty Images Workers build cars on the assembly line at Ford’s Chicago Assembly plant

Chicago PMI fell in March to a reading of 57.4, a one-year low, from 61.9 in February.

In March but orders and production have slowed. U.S. manufacturing had a great year in 2017 but the jury is still out about 2018. Other regional surveys were weaker on net in March, suggesting the ISM factory index will decline in March from a 60.8 reading in February, which was the highest level in 13 years, said T.J. Connelly, head of research at Contingentmacro. “A downside surprise, but still moderately strong. Market reaction should be limited,” said Scott Brown, chief economist at Raymond James & Associates.

Nick Note: The party is over. Deficits soaring. National debt doing a moon shot. Fed raising rates and yield cure inverting. Consumer debt and corporate debt at record highs.. Pretty obvious we are entering what will be the worse recession/depression ever

Trump says infrastructure plan will likely have to wait until 2018 elections

RICHFIELD, Ohio (Reuters) – U.S. President Donald Trump said on Thursday his infrastructure plan will likely have to wait until after the November congressional elections.U.S. President Donald Trump arrives to deliver remarks on the Infrastructure Initiative at the Local 18 Richfield Training Site in Richfield, Ohio, U.S., March 29, 2018. REUTERS/Yuri Gripas  “You’ll probably have to wait until after the election, which isn’t so long down the road,” Trump said in a speech. Nick Note: But let me get the photo op today. So i can make TRUMP great again!

Household Debt Remains Historically High

For better or worse, debt is a key factor in household financial stability. Some consumption is financed by borrowing, which is not necessarily a bad thing. However, at the same time, rising consumer debt levels can raise concerns about household financial stability and in turn financial system stability, research shows. In fact, the ratio of household debt to disposable personal income in the United States peaked at the end of 2007, immediately before the Great Recession. That ratio has since fallen. Yet in mid-2017 it remained historically high, at 102 percent, according to the Federal Reserve Bank of St. Louis’s Center for Household Financial Stability. That ratio never exceeded 100 percent before 2002. Higher debt levels have made American households and the nation’s economy more financially vulnerable, according to research presented at a 2017 symposium sponsored by the St. Louis Fed’s center. Likewise, the International Monetary Fund’s 2017 Global Financial Stability Report notes that experience from the financial crisis and recent research suggest increases in household debt levels may play a role in amplifying shocks to the economy or to the financial system.

CME Group to buy Britain’s NEX for $5.5 billion

(Reuters) – U.S. exchange operator CME Group (CME.O) said it had reached an agreement to buy Michael Spencer’s NEX Group (NXGN.L), valuing the British company at about 3.9 billion pounds ($5.49 billion) and creating a cross-border trading powerhouse. As part of the deal, NEX shareholders will receive 500 pence in cash for each NEX share and 0.0444 new CME shares. Each NEX share will be valued at 1000 pence, CME said.

CME.O Nasdaq
CME.O

“At a time when market participants are seeking ways to lower trading costs and manage risk more effectively, the acquisition will allow us to create significant value and efficiencies for our clients globally,” CME’s Chairman and CEO Terry Duffy, said. Nick Note: Concentration of exchanges is a BAD thing. Exchanges that are for profit warp thep laying filed. Exchanges should be small, regional and NOT FOR PROFIT. They should be plain vanilla and not seen or heard from to preserve the neutral biases the exchange should maintain between buyer and seller. ALL the exchanges are corrupt favoring buy side big boys who are systematically given a edge in trading. Thats OK we equalize it by beating the shit out of them in the periodic wipe outs!

Poll: Majority of Americans say they are not seeing change in paychecks due to tax cuts

A majority of Americans say they are not yet seeing President Trump‘s tax cuts reflected in their paychecks, according to a new poll. A CNBC All-America Economic Survey finds 52 percent of respondents say they haven’t seen a change. Just 32 percent of respondents report taking home more money due to the tax cuts, which Trump signed into law late last year. Of those saying they are taking home more money, 38 percent say the extra pay they receive helps them a “great deal” or a “fair amount.” Forty percent say the extra pay helps “some” or “just a little,” and 22 percent report that the extra pay “does not help much at all.” The poll was conducted from March 17 to 20 among 800 Americans. Its margin of error is 3.5 percentage points. The Treasury Department and IRS released new guidance earlier this year that adjusted the amounts that companies set aside from their employees’ paychecks for federal taxes. Employers were instructed to adopt the new withholding tables by Feb. 15. Treasury Secretary Steven Mnuchin has said that 90 percent of wage earners would see bigger paychecks due to the guidance. Nick Note: Basically the only thing Republicans have to run on is the tax cut for billionaires. And $1.52 a week aint gonna fool anyone. And if you are amoung the 20% who are getting a “enormous” tax cut $80 a month is not a game changer.  For a modern family the crumbs off the billionaires table has already been eaten up by higher prices!

White House: ‘Maximum pressure’ campaign on North Korea is working

White House: 'Maximum pressure' campaign on North Korea is working
© Getty Images

The White House said on Tuesday night that it views it’s “maximum pressure” campaign against North Korea as working effectively, shortly after Kim Jong Un met with Chinese President Xi Jinping in Beijing. The Chinese government briefed the U.S. about Xi’s meeting with the North Korean leader, according to White House press secretary Sarah Huckabee Sanders. “The United States remains in close contact with our allies South Korea and Japan,” Sanders said. “We see this development as further evidence that our campaign of maximum pressure is creating the appropriate atmosphere for dialogue with North Korea.”

Kim reportedly stayed in China through Tuesday, marking his first time to leave North Korea since he took power in 2011.

He met with Xi multiple times during Kim’s visit to China, according to the Chinese-state controlled Xinhua news agency. The North Korean leader reportedly said he was willing to work with the U.S. and South Korea to denuclearize. Earlier this month, President Trump said he was open to meeting with Kim and there are plans to get the two leaders together in May.  Trump and Kim have often traded insults but, following the announcement of the summit, Kim said he was willing to stop missile testing as it took place. Kim’s visit to China also comes before planned talks between North Korea and South Korea next month. Nick Note: Very cleaver move by Kim Yon Num Chucks. Now its apparent to all the China got his back. And Trump is happy because he got the d=sound byte. Problem is being the President of the worlds most powerful country is NOT a reality TV show. Just like the wall, Obama care and Tax break for Billionaires nothing has really changed for the better. In fact after the blow and go ALL are a worsening situation. I am planning on enjoying the coming Trump depression. I hope you will join me in the great success. Its amazing the money to be made in a wipeout!

President Donald Trump tweets there’s a ‘good chance’ North Korean leader will ‘do what is right’ and move toward peace

 

Donald Trump
Mike Theiler | Reuters Donald Trump

President Donald Trump tweets there’s “good chance” North Korean leader Kim Jong Un will “do what is right” and move toward peace.Trump said Kim’s meeting with Chinese President Xi Jinping went well and that the North Korean leader looks forward to ‘meeting with me.’ Nick Note: Don’t be fooled. China has now entered the negotiation  game. Are we really so stupid not to see that N.Korea is China’s mad dog. He will give up Nukes with much fanfare while he keeps a stash buried deep. In essence nothing will change. Only you perfect the weapon you get out of test mode and into production. Secret production.

Wall Street bonuses jump 17% to precrisis levels

The annual bonus for the average Wall Street worker is back to heights not seen since before the financial crisis, though the industry has shrunk in size since then.
82355389SP004_Stock_Open_Sl
Spencer Platt | Getty Images news | Getty Images
Spencer Platt | Getty Images news | Getty Images

The annual bonus for the average Wall Street worker is back to heights not seen since before the financial crisis, though the industry has shrunk in size since then. For last year, the average bonus jumped 17 percent, to an estimated $184,220, the most since 2006, according to data released by the New York state comptroller Monday. The total Wall Street bonus pool was $31.4 billion. The comptroller’s annual report said bonuses for 2017 likely got a boost from tax law changes that will eliminate the corporate deduction for performance-based pay starting in 2018. The change encouraged firms to move up payments to December 2017.

Profits from the broker-dealer operations of NYSE member firms (which is what it uses to measure the securities industry’s health) rose 42 percent, to $24.5 billion, the most since 2010.

That was the year new financial regulations came into play, clamping down on banks’ ability to trade for themselves and forcing them to set aside more capital. But during the last year especially, there has been a concerted effort in Washington to cut back some of these new regulations, with the Senate passing a bank regulatory relief bill earlier this month. In New York, the size of Wall Street’s bonus pool is a particular fascination for many given how it ripples through the local economy, from spending on real estate and travel to, restaurants, entertainment, luxury cars, jewelry and fashion. “When Wall Street does well, the city and state benefit from higher tax revenues,” Thomas DiNapoli, the state comptroller, said in a statement. “The large increase in profitability over the past two years demonstrates that the industry can prosper with the regulations and consumer protections adopted after the financial crisis.” Wall Street accounted for less than 5 percent of local jobs but 20 percent of private sector wages in the city, the report said. Wall Street had 176,500 workers last year, down from 188,400 in 2008. The report is based on personal income tax trends and includes cash bonuses for the current year and those deferred from prior years that were cashed in. It doesn’t include stock options or bonuses paid to employees located outside New York City. Nick Note: how do i know the Stock Market is about to crash and lose over half its value? Why it always crashes after they pay them record bonuses. Their is only so long the Noble Economic Price hide your loses metric works.

Facebook faces scrutiny for pulling Android call, text data

On the same day Facebook bought ads in U.S. and British newspapers to apologize for the Cambridge Analytica scandal, the social media site faced new questions about collecting phone numbers and text messages from Android devices. The website Ars Technica reported that users who checked data gathered by Facebook on them found that it had years of contact names, telephone numbers, call lengths and text messages. Facebook said Sunday the information is uploaded to secure servers and comes only from Android users who opt-in to allow it. Spokeswomen say the data is not sold or shared with users’ friends or outside apps. They say the data is used “to improve people’s experience across Facebook” by helping to connect with others. The company also says in a website posting that it does not collect the content of text messages or calls. A spokeswoman told the Associated Press that Facebook uses the information to rank contacts in Messenger so they are easier to find, and to suggest people to call. Users get the option to allow data collection when they sign up for Messenger or Facebook Lite, the Facebook posting said. “If you chose to turn this feature on, we will begin to continuously log this information,” the posting said. The data collection can be turned off in a user’s settings, and all previously collected call and text history shared on the app will be deleted, Facebook said. The feature was first introduced on Facebook Messenger in 2015 and added later on Facebook Lite. Messages were left Sunday seeking comment about security from Google officials, who make the Android operating system. Reports of the data collection came as Facebook CEO Mark Zuckerberg took out ads in multiple U.S. and British Sunday newspapers to apologize for the Cambridge Analytica scandal. The ads say the social media platform doesn’t deserve to hold personal information if it can’t protect it. According to the ads, a quiz app built by a Cambridge University researcher leaked Facebook data of millions of people four years ago. Zuckerberg said this was a “breach of trust” and that Facebook is taking steps to make sure it doesn’t happen again. Among the newspapers with the ads were The New York Times and The Washington Post in the U.S., and The Sunday Times and The Sunday Telegraph in the United Kingdom. Cambridge Analytica got the data from a researcher who paid 270,000 Facebook users to complete a psychological profile quiz back in 2014. But the quiz gathered information on their friends as well, bringing the total number of people affected to about 50 million. The Trump campaign paid the firm $6 million during the 2016 election, although it has since distanced itself from Cambridge. Nick Note: Social media is not a free lunch. If your using them. YOU need to know they know more about you then you do AND AND AND they sell the data to EVERYONE under the sun…. Including government!

New home sales fall for third straight month in February

 New home sales down 0.6% in February   

New home sales down 0.6% in February

 Sales of new U.S. single-family homes unexpectedly fell for a third straight month in February, weighed down by steep declines in the Midwest and West.

The Commerce Department said on Friday new home sales dropped 0.6 percent to a seasonally adjusted annual rate of 618,000 units last month.  Sales decreased 3.7 percent in the Midwest and 17.6 percent in the West, which has experienced rapid price growth amid a shortage of homes for sale. They rebounded 19.4 percent in the Northeast and 9.0 percent in the South, which accounts for the bulk of new home sales. The housing market has slowed in recent months as rising mortgage rates could make buying a home even less affordable for first-time buyers, who have been largely priced out of the market.

The median new house price was $326,800, a 9.7 percent increase from a year ago. The 30-year fixed mortgage rate is hovering at a four-year high of 4.45 percent, according to mortgage finance agency Freddie Mac. In contrast, annual wage growth has been stuck below 3 percent despite the unemployment rate dropping to a 17-year low of 4.1 percent.

In February, there were 305,000 new homes on the market, an increase of 2.0 percent and the highest level since March 2009.

At February’s sales pace it would take 5.9 months to clear the supply of houses on the market, the most since August 2017 and up from 5.8 months in January. About two-thirds of the houses sold last month were either under construction or yet to be built

Ex-NATO commander: ‘Buckle up’ for increased tensions under Bolton

Ex-NATO commander: 'Buckle up' for increased tensions under Bolton
© Getty Images

Former NATO Commander Adm. James Stavridis predicted that President Trump‘s recent picks for key national security posts are likely to lead to heightened tensions abroad and a more aggressive foreign policy footing by the White House. “Look for a ramp up in tension on the Korean Peninsula, in our relationship with China, certainly against Iran,” Stavridis said told radio host John Catsimatidis on AM 970 in New York. “Buckle up.” Stavridis comments came after a spate of shakeups among some of the Trump administration’s top national security officials that began earlier this month with the unceremonious firing of Secretary of State Rex Tillerson. Trump has tapped CIA Director Mike Pompeo to fill that position, while nominating CIA Deputy Director Gina Haspel for the lead role at the intelligence agency.  The latest shakeup came on Thursday, when Trump abruptly dismissed national security adviser H.R. McMaster and chose former United Nations Ambassador John Bolton to replace him. Taken together, Trump’s choices of Bolton, Pompeo and Haspel signal an effort to assemble a decidedly more hawkish team of advisers at a time when the president faces national security challenges on multiple fronts, including in North Korea and Iran. Stavridis predicted that Bolton, who has advocated for scrapping the Iran nuclear deal and considering a military strike on North Korea as a serious option, would likely advise Trump to take a hardline position in upcoming talks with North Korean leader Kim Jong Un. That hardline stance, Stavridis said, could include an uncompromising demand that Pyongyang abandon its nuclear weapons program entirely.”I would predict, following that, the talks will break down and we will move back to the state of tension that we were in prior to the Olympics,” he said. “So I think this choice of John Bolton tells us that the president is looking for a more hard-edge policy toward North Korea. Tension will go up.”  Nick Note: I think Trump has decided as the Stormy weather comes and Russia collision, Russian his ally in the laundromat and the elections becomes provable he need a blizzard of bulllshit to deflect the coming criminal prosecutions. And a war with N.Korea is just what the spin doctor ordered

Trump questioning advisers on whether to publicly respond to sex scandals: report

President Trump is reportedly questioning his advisers’ advice about remaining silent on the alleged affairs he had before taking office, according to the The Wall Street Journal.  The alleged affairs are now being widely reported on the news networks the president watches frequently, the Journal noted. The former reality TV star has reportedly asked about the idea of fighting back against the allegations. He has also floated the idea of responding on Twitter, where he often lashes out at political opponents and defends himself against critics. Trump has yet to personally respond to the two lawsuits against him by porn star Stormy Daniels and former Playboy model Karen McDougal, who are both seeking to end their nondisclosure agreements and speak freely of their alleged affairs with the president.  But Trump’s advisers are reportedly saying that such a response could be inappropriate for a sitting president. Advisers have noted that the alleged affairs, which both reportedly took place after he had married now-first lady Melania Trump, have so far not impacted his support among his voter base, the Journal reported.  While the president has stayed silent on the matter, Trump’s longtime personal attorney Michael Cohen has said Trump denies the affairs. Cohen acknowledged he made a $130,000 payment to Daniels just a month before the 2016 election, reportedly to keep her silent about the alleged affair, but said it was his own money. The White House said Trump was unaware of the payment.  Nick Note: this is an example of making a little shit into a big shit. Truth is the enemy of this administration. If he said hey i had my wet and wild stage but i am a changed man. With his popularity with the stupid money that would have ended it. Now as the truth comes out the lies are more silly by the day. He is getting himself into deep shit. He can explain stormy pornie and play boy bunnies. Buy yellow showers videos out of Russia are a lot more difficult proposition. He need to put these brush fires out before they become a raging forest fire he will not be able to contain

Politico: McMaster Firing Rips Plan to Announce Multiple Exits

Image: Politico: McMaster Firing Rips Plan to Announce Multiple Exits

President Donald Trump’s choice to suddenly dismiss national security adviser H.R. McMaster came as a surprise to senior aides who were planning to announce multiple departures of top administration officials, Politico reports. White House aides, including chief of staff John Kelly, had been waiting on inspector general reports, thinking that they would give them cause to dismiss Housing and Urban Development Secretary Ben Carson and Veteran Affairs Secretary David Shulkin, both of whom have come under harsh scrutiny for their lavish expenses and handling of their departments.The group also was considering ousting multiple senior White House aides, including McMaster, with the hope that if all the officials left at once then it would be easier to manage the optics. Nick Note: The White House is spinning out of control. Their will be a great big crash at the end of the runway. As in a depression

Wall Street suffers biggest drop in six weeks on China tariffs

NEW YORK (Reuters) – U.S. stocks dropped on Thursday, with each of the major Wall Street indexes suffering its biggest one-day percentage drop in six weeks, on the heels of an action by President Donald Trump to impose tariffs on up to $60 billion of Chinese imports.The Dow Jones Industrial Average fell 723.45 points, or 2.93 percent, to 23,958.86, the S&P 500 lost 68.23 points, or 2.52 percent, to 2,643.7 and the Nasdaq Composite dropped 178.61 points, or 2.43 percent, to 7,166.68. Nick Note: The bear market has started……. I AM READY>>>YOU?

Bitcoin Will Overtake Dollar And Become Global Currency: Twitter CEO

jackdorsey-bitcoin-032218-lt.jpg

Bitcoin will become the global currency for payments after overtaking the dollar’s dominant place within a decade, according to Twitter CEO Jack Dorsey. Dorsey, who is also the chief executive of payment company Square Inc., made the highly optimistic prediction ever on the modern-day currency in an interview with The Times. “The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.” Virtual currencies built using distributed ledgers will be the next big breakthrough, he said. Dorsey believes that despite recent weakness in the value of bitcoin and concerns that it cannot currently process transactions fast or cheaply enough to act as a currency, bitcoin will overcome these obstacles and will be used to buy everyday items such as coffee. As more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable,” he said. Created nine years ago, Bitcoin is the world’s most popular digital currency and the best-known application of blockchain technology. Dorsey had reportedly participated in a funding round that raised $2.5 million for California-based startup Lightning Labs last week. Square is now offering the bitcoin service in Wyoming, and has applied for a so-called “BitLicense” to extend the option to New York, Coindesk reported.

UBS reaches $230 million settlement with New York over mortgage securities

NEW YORK (Reuters) – UBS AG has reached a $230 million settlement to resolve charges brought by New York state that it misled and hurt investors by selling risky mortgage securities that contributed to the 2008 global financial crisis.

UBSG.S

New York Attorney General Eric Schneiderman on Wednesday said the Swiss bank will pay $41 million in cash to the state, and provide $189 million of relief to homeowners and communities. UBS had no immediate comment. The bank is the seventh to settle similar claims by New York, resulting in roughly $3.93 billion of settlements, the attorney general said. Nick Note: they are still making pay offs. Notice no criminal charges no one goes t jail. and the fines are tax deductible. That is why they ARE doing it again. This next banking wipe out will be even bigger then the last one.

It didn’t take long for the U.S. to rack up another trillion dollars of debt

Latest $1 trillion jump took about six months

It has taken a little more than six months for the U.S. national debt to grow by a trillion dollars, a quick clip that has little precedent over the nation’s recent history.

Last week, the debt hit $21 trillion for the first time, rising from the $20 trillion mark it notched on Sept. 8. The debt is guaranteed to go higher, with President Donald Trump having signed a debt-limit suspension in February, allowing unlimited borrowing through March 1, 2019. Economists expect wider deficits to result from the tax cut Trump signed in December.

The national debt exceeded $20 trillion in September 2017, after taking 20 months to add a trillion dollars. A debt limit that had been in place since March 2015 was raised in March 2017, and again on Sept. 8, 2017. Farther back, however, such trillion-dollar increases took longer: 43 months, for instance, near the end of Bill Clinton’s first term.The first time the nation’s debt hit $1 trillion was in October 1981, during Ronald Reagan’s first term.

Looking ahead, analysts see the nation much deeper in debt. The Committee for a Responsible Budget projects trillion-dollar deficits returning permanently by next year, and debt exceeding the size of the economy within a decade.

Nick Note: Trumps out of control, so is the deficit and national debt. The Tax Break Bonanza for Billionaires is destroying the economy. The Lafer cure is a sick joke. Corporate billionaires are NOT NOT NOT investing in the US economy….. Try stock buy backs and new jobs and factories in CHINA!

Bloomberg: Kushner company reaped high returns with misleading paperwork

(CNN)A real estate investment startup co-founded by Jared Kushner skirted New York City laws and earned his company more money than expected when they flipped the properties, according to a report by Bloomberg. In the company’s first-known deal, according to Bloomberg, Cadre sold three rent-regulated buildings for $59 million in April 2017, about an 80% premium over what it paid a little more than two years earlier. Kushner Cos., Cadre’s operating partner at the property, “told the city the buildings had no rent-regulated tenants when applying for construction permits to update the buildings in 2015 but tax records filed later showed almost 100 such residents,” Bloomberg reported, citing an earlier story by the Associated Press. Additionally, Kushner, an adviser to his father-in-law, President Donald Trump, had not divested his holdings in Cadre by last December, according to Kushner’s latest financial disclosure report. Tax records filed by Cadre with New York City claimed the properties had no residents in rent-controlled units, according to the Associated Press, but later tax filings showed nearly 100 residents living in rent-controlled units, which would have been worth less to prospective buyers. Nick Note: The trump administration is Truly the First Crime Family

China and Russia are ‘aggressively pursuing’ hypersonic weapons,

US can’t defend against them, top nuclear commander says

America’s top nuclear commander described a grim scenario for U.S. forces facing off against a new breed of high-speed weapons that Russia and China are developing. “We don’t have any defense that could deny the employment of such a weapon against us,” Air Force Gen. John Hyten, commander of U.S. Strategic Command, told the Senate Armed Services Committee on Tuesday. This means that, as of now, the U.S. has to rely on deterrence against these so-called hypersonic weapons, he said. Sen. Jim Inhofe, R-Okla., then asked the general to explain what a hypersonic weapon is and what it does. “A hypersonic threat is a system that starts out ballistic, so you’ll see it like a ballistic missile, but then it depresses the trajectory and flies more like a cruise missile or airplane,” Hyten said. “It goes up into the lower reaches of space and turns immediately back down and then levels out.” At that point, Hyten said, the weapon will fly at very high speed, which is where the term hypersonic comes from. “Both Russia and China are aggressively pursuing hypersonic capabilities,” Hyten told Inhofe. “We’ve watched them test those capabilities.” While the Defense Department’s latest budget request of $686 billion emphasizes a plan to offset emerging threats from Russia and China, it is clear that the U.S. lacks the means to combat hypersonics.Hyten, who has previously called Russia the “most significant threat” to the U.S., emphasized the need for the U.S. to add another type of nuclear weapon to its arsenal.  “I strongly agree with the need for a low-yield nuclear weapon,” he said of the Pentagon’s request for a low-yield warhead for submarine-launched ballistic missiles. “That capability is a deterrence weapon to respond to the threat that Russia, in particular, is portraying. Hyten’s comments came ahead of President Donald Trump’s announcement that he plans to “get together in the not-too-distant future” with Putin in order to discuss the international arms race. The intercontinental hypersonic missile, dubbed Avangard, is capable of reaching targets at 20 times the speed of sound and will strike “like a fireball,” Putin said. Nick Note: of all the weapons staged against us. I fear most the new  Avanguard that carries 16 nuclear warheads.

Trump’s stimulus will make the deficit with China worse, not better, says Credit Suisse economist

President Donald Trump’s pro-business policies such as corporate tax cuts will, ironically, worsen the U.S. trade and current account deficits, Credit Suisse said Monday.

U.S. businesses, helped by some of Trump’s policies, have started to increase investments and capital expenditure. But much of those funds have flowed to Asia because China is still the factory of the world, according to the bank’s chief economist, James Sweeney.

President Donald Trump and China's President Xi Jinping leave after an opera performance at the Forbidden City in Beijing, China, November 8, 2017.
Jonathan Ernst | Reuters

“Increasingly in the U.S., when there’s acceleration in business expansion, there’s a sharp plunge in trade balance,” Sweeney said during a panel discussion at the Credit Suisse Asian Investment Conference in Hong Kong. “The tax reform drives the deficits larger because the capital goods that the firms are increasingly buying are here in Asia,” he added. The economist said China accounts for around 30 percent of global manufacturing capacity — a situation that would persist for years to come, which means trade tensions between the world’s two largest economies are not going away. The worsening U.S. trade and current account deficits are one reason why Credit Suisse holds a bearish view on the greenback, noted Sweeney. That’s despite a stronger economy in the U.S. that would likely prompt the Federal Reserve to hike four times in 2018, he added. “Good global growth will change the view on rates in Europe and the rest of the world at a time when current account and trade balances are deteriorating in the U.S.,” he said. “Debt in the U.S. is pretty elevated. We’re bearish on dollar against the euro, against the yen and against a number of emerging markets’s currencies.” Nick Note: Bottom line the tax break bonanza for billionaire companies have done little in the US . Except to increase share buy back. But they are making CHINA GREAT AGAIN as companies invest in factories in China and pay bonuses to Chinese workers. Why would they not $40 a hour with benefits US and $10 a hour China. If you get to be a FAT cat of a big company you know how to do the math. And you learned ho w to bullshit and stroke the Bullshitter in Chief!

McCabe is ‘considering all options’ after firing

Former FBI Deputy Director Andrew McCabe is reportedly “considering all options” after getting a number of job offers from Democrats to ensure he gets his full retirement benefits. Attorney General Jeff Sessions fired McCabe on Friday, two days before he was set to retire. The attorney general said McCabe had disclosed unauthorized information to the press and not been completely honest with investigators from the inspector general’s office. McCabe has said he had the authority to disclose the information and said his dismissal is part of an effort to undermine special counsel Robert Mueller’s investigation into Russian meddling in the 2016 election. On Saturday, Rep. Mark Pocan (D-Wis.) announced he had offered for McCabe to work on election security for him.

Reps. Jamie Raskin (D-Md.) and Luis Gutiérrez (D-Ill.) have also extended job offers to McCabe.

“My offer of employment to Mr. McCabe is a legitimate offer to work on election security,” Pocan said in a statement. “Free and fair elections are the cornerstone of American democracy and both Republicans and Democrats should be concerned about election integrity.”

Rep. Seth Moulton (D-Mass.) tweeted that he might consider hiring McCabe as well. A spokeswoman for McCabe has not ruled out a job on the Hill and said “we are considering all options,” the Washington Post reported. Because McCabe has worked in law enforcement for over 20 years and was fired so close to his retirement date, he might just need to work one day to receive his full retirement benefits. McCabe was set to retire on his 50th birthday on Sunday.

Graham warns Trump: Firing Mueller would be ‘beginning of the end of his presidency’

Sen. Lindsey Graham (R-S.C.) on Sunday warned of the consequences for President Trump if he tries to fire special counsel Robert Mueller. Graham was asked on CNN’s “State of the Union” if he is worried Trump is preparing to order Mueller’s firing. “If he tried to do that, that would be the beginning of the end of his presidency, because we’re a rule of law nation,” Graham said. Graham said Mueller is following the evidence where it takes him. “I think it’s very important he be allowed to do his job without interference and there are many Republicans who share my view,” Graham said. Trump has repeatedly dismissed the special counsel’s probe into Russia’s election interference and possible ties between his campaign and Russia as a “witch hunt” and has denied collusion.Graham’s comments come after Attorney General Jeff Sessions on Friday fired former FBI Deputy Director Andrew McCabe. In recent days, Trump has taken to Twitter to attack the Mueller probe. On Saturday, he tweeted the probe “should never have been started in that there was no collusion and there was no crime.” “It was based on fraudulent activities and a Fake Dossier paid for by Crooked Hillary and the [Democratic National Committee], and improperly used in [Foreign Intelligence Surveillance Act] COURT for surveillance of my campaign. WITCH HUNT!” Trump tweeted. He also called McCabe’s firing a “great day for the hard working men and women of the FBI.” Nick Note: Talk about stupid. Do I think Trump is about to make the biggest mistake of his life.. Well Maybe. let’s be honest with each other… he at times does not make the wisest choices. I am sure with Stormy blowing and his your FIRED binge he has got a full head of steam going. Now add the fact that the prosecutor knows where Trump’s cemetery is located. Well let me put it to you this way. If he could clean house with one fell swoop I am sure he is inclined to give it a shot

Trump: ‘Mueller probe should never have been started’

President Trump asserted on Saturday that special counsel Robert Mueller‘s investigation into possible collusion between the Trump campaign and Russia should never have been opened in the first place. “The Mueller probe should never have been started in that there was no collusion and there was no crime,” Trump wrote on Twitter. “It was based on fraudulent activities and a Fake Dossier paid for by Crooked Hillary and the DNC, and improperly used in FISA COURT for surveillance of my campaign. WITCH HUNT!”

ADVERTISEMENT

The tweet came hours after Trump’s lawyer, John Dowd, released a statement calling on Deputy Attorney General Rod Rosenstein, who oversees Mueller’s investigation, to shut down the probe.

Dowd initially told the Daily Beast that the statement was issued on behalf of Trump, but later reversed course, saying it was given in his personal capacity.  Still, Trump has repeatedly lambasted Mueller’s investigation as a “witch hunt,” arguing that there was no improper contact or coordination between his campaign and Moscow. He reportedly sought last summer to have Mueller fired, but backed down from that position after White House counsel Don McGahn threatened to resign.

Trump’s tweet on Saturday night also came a day after Attorney General Jeff Sessions fired former FBI Deputy Director Andrew McCabe, arguing that McCabe misled congressional investigators and leaked information to the press.

McCabe swiftly pushed back on those charges, saying that his ouster was politically motivated and intended to undercut Mueller’s investigation into Russian election meddling.

Nick Note: The Russian spy murder, the Dossier, Cambridge Analytical, face book  and Republican part data base data base ended up at the Russian troll farm are all connected. You bet your ass their was collusion. And now the body count will mount. Peoples reputations and lives will be destroyed and ended. This is scorched earth. Trump did use his Russia connections to win. The Dossier has never been proven false. And the people who provided information are turning up dead. Open up your eyes.

The Latest: Trump lawyer claims up to $20m in damages

The Latest on Stormy Daniels and President Trump

Donald Trump’s lawyer, Michael Cohen, wants a lawsuit brought by porn actress Stormy Daniels moved to federal court, and claims the woman could owe $20 million in damages for violating a non-disclosure agreement.  The Friday court filing seeks to move Daniels’ case from a state-level court to federal court in Los Angeles. Daniels, whose real name is Stephanie Clifford, is seeking to invalidate the non-disclosure agreement. She has offered to return the $130,000 she was paid. The filing accuses Clifford of violating the agreement more than 20 times. A separate filing says Trump would join a request to have the case heard by an arbitrator. Clifford’s lawyer says it’s an attempt to have the matter decided in private arbitration, “thus hiding the truth from the public.” A porn actress who said she had sex with Donald Trump before he became president has been threatened with physical harm, her attorney says. Stormy Daniels, whose real name is Stephanie Clifford, has been seeking to invalidate a nondisclosure agreement she signed days before the 2016 presidential election in order to discuss their relationship, which she said began in 2006 and continued for about a year. Clifford’s attorney, Michael Avenatti, tells The Associated Press his client had been “physically threatened,” but he isn’t providing details. He won’t not comment on whether the threats came from anyone tied to the president, the Trump campaign or the Trump Organization. Nick Note: If Trump is a changed man forgiven. Is he not suppose to confess his sins and ask for forgiveness?

National debt hits $21 trillion thanks to mindless Tax Cuts for billionaires

national debt
Federal borrowing has been on the rise again since February, when Congress passed legislation to suspend the debt ceiling (Mark HumphreyAP)

The national debt exceeded $21 trillion for the first time on Thursday, a little more than six months after it hit first $20 trillion on Sept. 8. The national debt was $21.031 trillion on Thursday. The government releases total debt figures each business day, but it lags by one day. Federal borrowing has been on the rise again since February, when Congress passed legislation to suspend the debt ceiling. That move allowed the government to borrow as much as it needs to fund the activities approved by Congress. Under the law passed in February, the government will not face any borrowing limit until March 1, 2019. At its current pace, the government is on track to add at least $1 trillion to the national debt by then. For example, the debt grew by more than half a trillion dollars in the six weeks since the debt ceiling was lifted on Feb. 9. A large part of the national debt reflects the federal budget deficit, or the amount of spending above the revenues collected by the government. But the debt is rising faster than the amount of the budget deficit, as it also reflects things like federal lending for student loans and mortgage programs. Peter G. Peterson Foundation President Michael Peterson said the milemarker is just the beginning, as Congress has just agreed to spend even more.

“Our national debt reached a staggering $21 trillion today, having grown by $1 trillion in just the past six months,” he said. “Worse yet, this unfortunate milestone has only just begun to include the effects of the recent fiscally irresponsible tax and spending legislation, which added more debt on top of an already unsustainable trajectory.”

Nick Note: the deficit is soaring, the national Debt is a rocket launch. Tax cut disaster not not not doing anything but making fat cats richer and cutting government tax revenues. AND the predictable is happening. The yearly budget deficit is tripling AND the national Debt is increasing by record amounts. You are watching a disaster in the making. Interest rates on the short end will soar. Markets will crash and the economy will soon enter another GREAT DEPRESSION!

Housing starts fall/crash more than expected in February

  • Housing starts declined 7.0 percent to a seasonally adjusted annual rate of 1.236 million units in February.
  • While the volatile multi-family housing segment accounted for the decline in home building last month, the broader housing market appears to be slowing.
  • There is growing optimism that tightening job market conditions will translate into faster wage growth in the second half of this year.

Published 6 Mins Ago Updated 1 Min Ago

A contractor moves roofing material on a home under construction at the Toll Brothers Cantera at Gale Ranch housing development in San Ramon, Calif.
David Paul Morris | Bloomberg | Getty Images A contractor moves roofing material on a home under construction at the Toll Brothers Cantera at Gale Ranch housing development in San Ramon, Calif.

U.S. homebuilding fell more than expected in February as a plunge in the construction of multi-family housing units offset a second straight monthly increase in single-family projects.

Housing starts declined 7.0 percent to a seasonally adjusted annual rate of 1.236 million units, the Commerce Department said on Friday.

Data for January was revised up slightly to show groundbreaking increasing to a 1.329 million-unit pace instead of the previously reported 1.326 million units. While the volatile multi-family housing segment accounted for the decline in home building last month, the broader housing market appears to be slowing. Sales of both new and previously owned homes have slumped in recent months as a dearth of properties on the market pushed up prices, sidelining some first-time home buyers. Mortgage rates have also risen, with the 30-year fixed-rate currently averaging 4.44 percent, not too far from a four-year high of 4.46 percent, according to mortgage finance agency Freddie Mac. But the housing market remains underpinned by a robust labor market. Single-family homebuilding, which accounts for the largest share of the housing market, increased 2.9 percent to a rate of 902,000 units in February. Single-family home construction rose in the Northeast, South and West, but tumbled in the Midwest. Permits to build single-family homes slipped 0.6 percent in February to a 872,000 unit-pace. With permits lagging starts, single-family home construction could slow in the months ahead.

Starts for the volatile multi-family housing segment tumbled 26.1 percent to a rate of 334,000 units in February, the lowest level since September 2017. Permits for the construction of multi-family homes dropped 14.8 percent to a 426,000 unit-pace.

Nick Note: Obviously a disaster! Now help me with a mystery here. House starts collapsed in February BUT government reported a huge surge in construction employment? How is that possible. Why theirs that smell….. AGAIN

Stephen Hawking wants his most famous formula engraved on his tombstone:

 Here’s what his formulae  means For science and our economy

Slideshow preview image In 1974, long before Stephen Hawking was the famous cosmologist he became, he developed his most influential theory. That concept, which came to be known as Hawking radiation, explained how energy and even matter could escape the immense gravitational pull of a black hole. On Wednesday, Hawking died at the age of 76, but his scientific theory lives on. And in fact, Hawking himself will make sure of it, even in death. In 2002, the famous scientist said that he wants his formula for Hawking radiation — originally put forward in a 1974 paper in the journal Nature — engraved on his tombstone, according to the New York Times.

Hawking radiation transformed our understanding of physics as we know it, in a bid to start bridging the gap between quantum physics and physics on a larger, astronomical scale.  Black holes are extremely dense objects that warp the fabric of space and time around them. It was thought that nothing can escape from a black hole, but Hawking radiation contradiction that conventional wisdom. Hawking found that unless black holes continue to feed on matter, they will eventually die by effectively radiating off small amounts of energy over the course of billions of years. Those black holes, if left without more matter to consume, would eventually shrink and then likely explode, blasting their guts back into the universe, effectively recycling whatever matter they took in over the course of their lifetime. Nick Note: now this is a great man. He had a profound influence on my life and my understanding of the universe. he also proved that people can rise form extreme adversity and accomplish great thing.  In fact Donal Trump reminds me of Hawking’s  black hole. Sucking the life out of the economy and destroying everything and everyone he sucks into the black hole that is his corrupt spear of influence. Soon he will run out of souls to destroy and he will explode. Like all back holes eventual do. And that day will be much sooner then most people think! Understand this and understand how to make fabulous sums of money.

Retail sales decline for third straight month in February

A family shops at the Walmart Supercenter in Springdale, Arkansas.
Rick Wilking | Reuters A family shops at the Walmart Supercenter in Springdale, Arkansas

U.S. retail sales fell for a third straight month in February as households cut back on purchases of motor vehicles and other big-ticket items, pointing to a slowdown in economic growth in the first quarter. The Commerce Department said on Wednesday that retail sales slipped 0.1 percent last month. January data was revised to show sales dipping 0.1 percent instead of falling 0.3 percent as previously reported. It was the first time since April 2012 that retail sales have declined for three straight month. Excluding automobiles, gasoline, building materials and food services, retail sales edged up 0.1 percent last month after being unchanged in January. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, appears to have slowed at the start of the year after accelerating at a 3.8 percent annualized rate in the fourth quarter. But spending remains underpinned by a strong labor market, which is viewed by Federal Reserve officials as being near or a little beyond full employment. The economy created 313,000 jobs in February. Consumer spending could also get a lift from a $1.5 trillion income tax cut package. Slower consumer spending supports expectations of modest economic growth in the first quarter. Gross domestic product growth estimates for the January-March quarter are around a 2 percent annualized rate.The economy grew at a 2.5 percent pace in the fourth quarter. But revisions to December data on construction spending, factory orders and wholesale inventories have suggested the fourth-quarter growth estimate could be raised to a 3.0 percent pace. The government will publish its third estimate for fourth-quarter GDP growth later this month.

In February, auto sales fell 0.9 percent after a similar drop in January. Receipts at service stations declined 1.2 percent, reflecting lower gasoline prices. There were also declines in sales at furniture stores, health and personal care stores and electronics and appliance stores.

Nick Bit: We are in a economic slow down pure and simple. First quarter GDP under2.4% and maybe below 2% will prove it.

Savage Criticizes Trump Twitter Firing, Nation in ‘Turmoil’

Image: Savage Criticizes Trump Twitter Firing, Nation in 'Turmoil'
President Donald Trump (Andrew Harnik/AP) By Cathy Burke | Tuesday, 13 Mar 2018 11:54 PM

Conservative radio host Michael Savage tore into President Donald Trump on Tuesday for subjecting Secretary of State Rex Tillerson to the “public humiliation” of getting fired via Twitter. According to “The Savage Nation” moderator, “it’s astounding the way Tillerson was treated.” “By kicking him out by Twitter, what he’s saying is ‘Well, you know what, I don’t even know if I should have hired him.’ So, it’s a reflection of his own bad judgment,” Savage said.Savage also decried the “turmoil” in the country, and suggested the problem was “inside the corridors of power.””The country is in turmoil and this is not a good thing for the nation or the world,” he said. “You do realize that Rex Tillerson is going back to run ExxonMobil, one of the world’s largest corporations, a great supporter of the president,” he added, pointing out Trump “just made an enemy of him by publicly humiliating him.””I don’t want to hear the bootlickers get up there and say it was the right thing to do because you’re gonna hear that from the bootlickers,” he said.”The bootlickers who put you down and put Trump down are now going to say this is the way to do things,” he continued. “Well, maybe that’s a reflection of their character, it’s not a reflection of mine.” Nick Note: Tellierson a honest man was treated like shit by Trump. To the end suffering the most humiliating departure i have ever see Tillerson was a gentleman. You did good REX! Hear my words this evil streak in Trump will be his undoing. Tillerson will have his revenge!

Google Censors Bitcoin

(Reuters) – Alphabet Inc’s Google said on Wednesday it will ban advertisements for cryptocurrencies and related content starting in June. Under the new policy, the company will ban ads for unregulated or speculative financial products like binary options, cryptocurrency and financial spread betting among others. In a separate blog post, Google said it took down 3.2 billion ads that violated its advertising policies in 2017, nearly double the number of ads it removed in 2016. “Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us,” Scott Spencer, director of sustainable ads, said.  In January, Facebook Inc said it will ban ads promoting financial products and services tied to cryptocurrencies and initial coin offerings. The policy will be implemented across its platforms, including Facebook, Audience Network and Instagram, the company said. Nick Note: Internet censorship has started. Far more money will be lost in the coming stock market crash and the junk bond wipe out. then in Bitcoin.

Judge: Manafort Faces ‘Very Real Possibility’ of Life in Prison

Image: Judge: Manafort Faces 'Very Real Possibility' of Life in Prison
(Drew Angerer/Getty Images) By Joe Crowe

Paul Manafort, President Donald Trump’s former campaign chairman, has a reasonable chance of being a flight risk, a U.S. district judge wrote in an order that was made public on Tuesday, Politico reported. U.S. District Judge T.S. Ellis III, who is assigned to a newly filed indictment against Manafort over bank fraud and tax evasion, set the terms for “home incarceration” for Manafort in the order, Politico reported.  “The defendant is a person of great wealth who has the financial means and international connections to flee and remain at large, as well as every incentive to do so,” Ellis wrote.”

Given the nature of the charges against the defendant and the apparent weight of the evidence against him, defendant faces the very real possibility of spending the rest of his life in prison,” Ellis wrote, Politico noted.

Ellis, who was appointed by President Ronald Reagan, put Manafort in a “24-hour-a-day lockdown” at his Alexandria, Virginia condo, except for medical appointments, emergencies, court appearances, and meetings with his defense attorneys, the report said.The judge also ordered that Manafort pay $10 million if he fails to appear in court, Politico reported. Each of the nine bank fraud or bank conspiracy charges that Manafort faces carry a maximum 30-year sentence, Politico reported.Attorneys have attempted to free Manafort from house arrest amid conflicts with U.S. District Judge Amy Berman Jackson, but were unsuccessful. Nick Note: This is a man who knows a LOT. And he has an incentive to cut a deal. Do not be surprised f he rolls over.

U.S. Consumer Prices Rise In February

Consumerprices-US-031318-lt.jpg

A report released by the Labor Department on Tuesday showed consumer prices in the U.S. increased in line with economist estimates in the month of February. The Labor Department said its consumer price index rose by 0.2 percent in February after climbing by 0.5 percent in January. Economists had expected consumer prices to rise by 0.2 percent. The uptick in consumer prices partly reflected higher prices for for shelter, apparel, and motor vehicle insurance. The energy price index inched up by 0.1 percent in February after jumping by 3.0 percent in January, while food prices were unchanged. Core consumer prices, which exclude food and energy prices, also edged up by 0.2 percent in February following a 0.3 percent increase in January. The uptick in core prices also matched expectations. The Labor Department said the indexes for household furnishings and operations, education, personal care, and airline fares also increased in February. In contrast, the indexes for communication, new vehicles, medical care, and used cars and trucks declined over the month. Compared to the same month a year ago, consumer prices were up by 2.2 percent in February, reflecting a modest acceleration from the 2.1 percent increase in January. Core consumer prices were up by 1.8 percent year-over-year, unchanged from the annual rate of growth seen in the previous month. Nick Note: inflation is creeping up and it will push the FED even harder to raise short rates.

 

 

Trump removes Tillerson at State

Trump removes Tillerson at State
© Getty Images

Secretary of State Rex Tillerson has been ousted from his role, The Washington Post reported. Tillerson is being replaced by CIA director Mike Pompeo, President Trump announced in a tweet. “Mike Pompeo, Director of the CIA, will become our new Secretary of State,” Trump tweeted. “He will do a fantastic job! Thank you to Rex Tillerson for his service! Gina Haspel will become the new Director of the CIA, and the first woman so chosen. Congratulations to all!”

Nick Bit: The only guy with a brain is gone. We new this was coming sad day! Now They can really screw up negotiations with N.Korea

Trump blocks Broadcom-Qualcomm deal, citing national security concerns

President Donald Trump waves as he arrives to speak in support of Republican congressional candidate Rick Sacconne during a Make America Great Again rally in Moon Township, Pennsylvania, U.S., March 10, 2018.
Trump blocks Broadcom’s bid for Qualcomm

President Donald Trump killed Broadcom’s proposed buyout of Qualcomm, citing national security concerns, according to a statement issued by the White House on Monday. “There is credible evidence that leads me to believe that Broadcom Limited, a limited company organized under the laws of Singapore (Broadcom)…through exercising control of Qualcomm Incorporated (Qualcomm), a Delaware corporation, might take action that threatens to impair the national security of the United States,” the statement said.

Both companies were ordered to immediately abandon the proposed deal. The order, an unusual move by any sitting U.S. president, also prohibits all 15 of Broadcom’s proposed candidates for Qualcomm’s board from standing for election.

The U.S. Treasury’s Committee on Foreign Investment in the United States had already expressed concerns about the transaction in a March 5 letter addressed to Broadcom and Qualcomm lawyers. CFIUS listed several issues, including Broadcom’s reputation for cutting research spending and potential national security risks. Despite CFIUS’s concerns, Broadcom had been optimistic that a plan to move its headquarters from Singapore to the U.S. could save the deal. “Broadcom strongly disagrees that its proposed acquisition of Qualcomm raises any national security concerns,” the statement said. Nick Note: Its a shame talk about creating jobs. Now if this was a coal mine merger it would go through. Their is no REAL national security concerns. Just more TRUMP anitbussiness measures, Pay back for political enemies!

North Korea offers new peace deal

North Korea has offered to abandon its nuclear weapons programme, stop missile development and  exports and readmit foreign inspectors in return for a US pledge not to attack, it was revealed last night. The offer, announced yesterday, represents the first clear sign that Pyongyang could be interested in negotiating away its nuclear ambitions. The latest details of that meeting show that North Korea also offered significant concessions. Alongside its longstanding offer to halt its nuclear programme in return for a non-aggression pact, it promised to stop exporting missiles and allow nuclear inspectors into the country. Nick Bit: Trump was right putting pressure on N.Korea has forced them to negotiate. Its obviously the art of the deal. WOW! this story was first published on Tue 29 Apr 2003

Putin Says He Will ‘Never’ Give Crimea Back to Ukraine

Image: Putin Says He Will 'Never' Give Crimea Back to Ukraine
(AP)

Russian President Vladimir Putin has said that under no circumstances would he give Crimea back to Ukraine, speaking in a new documentary released Sunday ahead of his expected re-election in next week’s poll. “What, have you gone mad?” he told a journalist who asked him if there were any circumstances under which the Russian leader would be ready to give up Crimea.

“There are no such circumstances and never will be,” he said in the new two-hour documentary “Putin”.

It was published on the social media accounts of notorious pro-Kremlin TV host Dmitry Kiselev ahead of a presidential election on March 18. Russia annexed Crimea from Ukraine in 2014 and supported Russian-speaking insurgents in the east of the ex-Soviet country after a Western-backed popular uprising ousted a Kremlin-backed regime from power in Kiev.The peninsula’s annexation led to European and US sanctions against Moscow amid the most serious crisis in ties with the West since the end of the Cold War. Nick Note: Not only is he not going to give the Crimea back. He is going to take more. Remember he has the video tapes.

GE reiterated a Sell at Deutsche Bank, sees more writedowns ahead

General Electric shares are up 5% for the week but Deutsche Bank bear John Inch is not appeased, as he reiterates his Sell rating and $13 price target, warning of potentially “significant” downside to come for GE’s book value, given the underperformance at its power division Alstom along with the likely writedown of goodwill and intangibles associated with the deal, which closed in late 2015. Inch calculates that GE Industrial shareholders’ equity has been slashed from more than $130B at its peak in early 2014 to ~$64B today, equating to ~$7 per GE share. Given that GE Industrial goodwill and intangibles have climbed to $103B from $66B over the past four years, Inch argues that the company is due for a writedown, leading to more pain ahead. Nick Note: GE  is dead meat. 20 years of engineering ts balance sheet and making endless dog shit acquisitions has finally caught up with them.

REITs continue 2018 decline with brutal February

The FTSE Nareit All REITs Index tumbled 7.3% in February, underperforming the S&P 500 by 360 basis points. The worst-performing REIT sector was data centers, down 13.1%, followed by lodging, off 12%, and healthcare lower by 10.4%. Self storage was a winner last month, dropping just 0.8%, followed by manufactured homes, down 2%. Chilton Capital Management says disappointing REIT performance was driven by negative fund flows, uncertainty surrounding rising interest rates, and concern about a maturing real estate cycle. Given all the pessimism there were some green shoots, with real estate demand growing, and apartment & industrial occupancy rising to 93.8%. Nick Note: The depression is coming. They have vast debt on their commercial properties and are losing big box retailer anchor tenets like their were hit by the plague.

Trump lawyer Michael Cohen used Trump Organization email to arrange payment to porn star Stormy Daniels: NBC News

Stormy Daniels
Gregg DeGuire | WireImage | Getty Images Stormy Daniels

President Donald Trump’s personal lawyer used a Trump Organization email when he set up a $130,000 payment to porn actress Stormy Daniels to get her to keep quiet about an alleged affair with Trump on the eve of the 2016 election, NBC News reported Friday, citing a source familiar with the discussions. The reported use of the email account by attorney Michael Cohen could raise new questions about possible campaign finance law violations. Cohen has said he used his personal funds to “facilitate” the payment and did not get reimbursed by the Trump Organization or campaign. He has aimed to distance Trump himself from the payment. The Wall Street Journal, citing sources, has reported that Cohen complained to friends that he had not been reimbursed for the money he sent to Daniels, whose legal name is Stephanie Clifford. Daniels signed a nondisclosure agreement shortly before the 2016 election. Clifford has filed a lawsuit against Trump arguing the agreement is invalid. A lawyer for Cohen did not immediately respond to CNBC’s request to comment.

US bull market, 2nd longest since WWII, turns 9

NEW YORK (AP) — The bull market turned nine Friday, extending a run that began in the depths of the Great Recession. On March 9, 2009, the S&P 500 hit a cycle low of 676.53, and has more than quadrupled since that date, according to Howard Silverblatt at S&P Global, helped by historically low interest rates and improving corporate profits. The stock market has had several corrections since March 2009, which is when an index like the S&P 500 falls 10 percent or more from a recent high, most recently in February. But the stock market has not fallen 20 percent or more from a recent high, which is when a bull market becomes a “bear” market. The S&P 500 would have to fall roughly 600 points from its current level in order to enter a bear market. If the current bull market lasts until August 21, it will be the longest bull market since World War II, exceeding the bull market that started October 1990 and lasted until March 2000. During that time the S&P 500 rose more than 400 percent. The third-longest bull market came in the post-WWII boom years, between 1949 and 1956.

While there are several risks to this current bull market, including the possibility of higher inflation and a trade war caused by President Donald Trump’s tariffs on aluminum and steel, most investors believe the current market isn’t at risk of falling into a bear market any time soon. Companies are benefiting from the recent tax law passed by Congress and the overall U.S. economy is growing and unemployment is at record lows.

U.S. Wholesale Inventories Climb 0.8%, But Wholesales Sales Slump 1.1%

WholesaleInventories-030918-lt.jpg

Wholesale inventories in the U.S. increased by slightly more than expected in the month of January, a report from the Commerce Department revealed on Friday.

The Commerce Department said wholesale inventories climbed by 0.8 percent in January after rising by an upwardly revised 0.7 percent in December.

The bigger than expected increase in wholesale inventories was partly due to a continued jump in inventories of non-durable goods, which soared by 1.8 percent in January after surging up by 1.1 percent in December.

Sharp increases in inventories of drugs, petroleum and farm products more than offset notable decreases in inventories of chemicals and paper. The report said inventories of durable goods edged up by 0.2 percent in January after rising by 0.4 percent in the previous month. Increases in inventories of furniture, hardware, and automotive goods were partly offset by a steep drop in inventories of computer equipment. Meanwhile, the Commerce Department said wholesale sales slumped by 1.1 percent in January after climbing by 0.8 percent in December.

Meanwhile, the Commerce Department said wholesale sales slumped by 1.1 percent in January after climbing by 0.8 percent in December.

Sales of durable goods tumbled by 1.4 percent in January after rising by 0.6 percent in December, reflecting sharp decreases in sales of miscellaneous goods, machinery, furniture, and electrical goods. The report said sales of non-durable goods also fell by 0.8 percent in January following a 1.0 percent jump in the previous month. The pullback reflected steep drops in sales of alcohol, farm products, apparel, and chemicals. With inventories climbing and sales falling, the inventories/sales ratio for merchant wholesalers rose to 1.26 in January from 1.23 in December. nick Note: this is a GDP buster number. It shows a deep slow down on the economy. Durable good sales declines in this report were across all categories. The GDP report will not be above 2.5% and cld be as low as 2%… a freeging disaster

 

Saudi concerned about risks with New York IPO for Aramco: CNN

FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed/File Photo

(Reuters) – Saudi Arabia has concerns about the risks that oil giant Aramco would run by choosing New York as the venue for its $100 billion market listing, Energy Minister Khalid al-Falih said in an interview with CNN.

“I would say litigation and liability are a big concern in the U.S.,” al-Falih was quoted as saying by CNN. “Quite frankly, Saudi Aramco is too big and too important for the kingdom to be subjected to that kind of risk.”

The government has said it plans to sell about 5 percent of Aramco, hoping to raise some $100 billion or more in what would likely be the world’s biggest initial public offering (IPO).

New York and London have long been the clear frontrunners to host the international leg of the flotation, alongside a Riyadh listing.

“The London Stock Exchange is one of the best in the world, it is well regulated and we respect it,” al-Falih said, according to CNN. “It has (a) great many companies, including in the oil and gas sectors.” “As for the announcement of the second listing, it will be made in due course … but New York continues to be looked at, London continues to be looked at, other exchanges are being looked at,” he added. Nick Note: Do the math they are valuing this oil company at 2 trillion dollars. It is a sick joke. As far as NY jurisdiction your damn right they are concerned about litigation. When the high yield retirees find out their fund managers like  Vanguard, Blackrock and State Street bought the shit out  this Saudi Con job the law suits will fly.  Of course that will be after the Saudis complete the screwing of the crusaders in the name of ALLAH.   Fund mangers on the state level who have been wined and dined to say the least are fixing to load their retirement accounts with this Saudi SHIT. mark my words down the road their  will be law suits up the ass. In essence they are betting against US oil and fracking and betting on OPEC. Proof fund managers are dumber then a bag of rocks!

JP Morgan co-president warns of ‘deep correction’ for stocks totaling as much as 40% over next few years

J.P. Morgan co-president Daniel Pinto believes equity markets could see as much as a 40 percent correction within the next few years.
A grizzly bear roams through the Hayden Valley in Yellowstone National Park in Wyoming.
A grizzly bear roams through the Hayden Valley in Yellowstone National Park in Wyoming.

“The equity market has some way to go for the next year to two,” Pinto said in an interview with Bloomberg TV. “But then, if there is a correction, it could be a deep correction. It could be between 20 and 40 percent depending on the valuations at the time. The most important thing for someone like us is just to be prepared.” Pinto’s comments come a month after fears of burgeoning inflation and rallying interest rates caused a spike in market volatility and sent the Dow Jones industrial average tumbling into correction territory. Many Wall Street economists expect prices to steadily increase throughout 2018 given tight labor market conditions.

Ron Paul
Why Ron Paul sees a major market correction coming

February proved another strong month for job creation, with ADP and Moody’s Analytics reporting that companies added 235,000 jobs over the course of the month. Pinto noted that market corrections tend to be the result of many factors, but he highlighted central bank activity as a potential pitfall for global markets. “I think those are the things you want to watch: That inflation doesn’t go up too fast, that forces the central banks to go a little faster and quickly than they’re doing now,” the bank executive explained. “So you want to watch economic indicators, that they don’t show that the economy is sliding down and you want to look at some geopolitical issues.” Markets consider a March rate hike from the Federal Reserve nearly certain, judging by trading in the Fed funds futures market. Subsequent hikes are anticipated in June and a third likely coming in September, according to the CME’s FedWatch tracker.

Europe has “arsenal of weapons” to respond to Trump’s tariffs – EU’s Moscovici

European Economic and Financial Affairs Commissioner Pierre Moscovici presents the EU executive’s economic forecasts during a news conference at the EU Commission headquarters in Brussels, Belgium February 7, 2018. REUTERS/Francois Lenoir

PARIS (Reuters) – Europe wants to avoid a trade war with the United States over its plans to impose tariffs on steel and aluminium, but is preparing immediate counter-measures just in case, European Financial Affairs Commissioner Pierre Moscovici said. Trump is expected to sign a presidential proclamation to establish the tariffs during a ceremony on Thursday, though White House officials have said it could slide into Friday because documents have to be cleared through a legal process. “If Donald Trump puts in place the measures this evening, we have a whole arsenal at our disposal with which to respond,” Moscovici told BFM TV on Thursday. He said counter-measures would include European tariffs on U.S. exported oranges, tobacco and bourbon. Europe could also file an eventual complaint before the World Trade Organization, Moscovici said. “We must accept that the world becomes a place of each man for himself,” the commissioner said. The U.S. leader’s proposal for a 25 percent tariff on steel imports and 10 percent on aluminium has rattled global markets as well as prominent congressional Republicans and business leaders worried about the potential economic fallout. Moscovici said some of the goods under consideration for an EU riposte were largely produced in constituencies held by Trump’s Republican party. “We want Congress to understand that this would be a lose-lose situation,” he said. Nick note: Trump is pandering to his base the soon to be extinct blue collar worker. The reality is that base is being replaced by automation, algorithms and robots. At one time 90% of the worlds workers were employed as farm laborers. Now its less then 2%. So the same will be true of blue collar workers on assemble lines and manual workers  in EVERY industry. So in reality the strung out getting poorer Trump’s blue collar constituency is a has been. And starting a trade war to protect  coal, assembly lines and steel mills is futile. So is trying to hide deviant behavior with with porn stars with threats, payoffs and law suits.

Chevron CEO: We’re in ‘early innings’ of US shale ‘really performing’

We're in early innings in terms of shale performance: Chevron CEO
We’re in early innings in terms of shale performance: Chevron CEO

Chevron is continuing to see “great gains” in its shale business, CEO Michael Wirth told CNBC on Tuesday. In fact, the company just announced it has grown its position in the Permian Basin by 10 percent — from 2 million to 2.2 million acres. “We’re in early innings in terms of shale really performing,” Wirth said in an interview with “Closing Bell.” While OPEC cut its production output last year, there has been a resurgence in U.S. production. According to the International Energy Agency, the U.S. will fulfill most of the world’s growing demand for oil over the next five years. However, former EOG Resources CEO Mark Papa, a pioneer in the industry, recently told The Wall Street Journal that he doesn’t think U.S. production will keep growing as fast as the market thinks.

Wirth, who took the helm of Chevron on Feb. 1, said the company’s break-even price this year is $50 a barrel or better, without any asset sales.

 

 

Nick Note: Many frackers are  under $15.00 a barrel in production costs. And that price will drop even further. Big oil with their DUMB SHIT deep water insanity need $80.00 a barrel. Don’t let them shit you. The Fracking  revolution will bankrupt OPEC and big oil!

EU ready to retaliate against Trump’s proposed trade tariffs

BRUSSELS (AP) — The European Union says it is ready to retaliate against the U.S. over President Donald Trump’s proposed tariffs on steel and aluminum, with counter-measures against iconic U.S. products like Harley Davidson motorcycles, Levi’s jeans and bourbon. Trade Commissioner Cecilia Malmstroem said Wednesday that the EU, the world’s biggest trading bloc, rejects Trump’s reasoning that the tariffs are backed by the international legal right to protect national security. Should tariffs be introduced, the EU and other partners would take the case to the World Trade Organization, she said. The EU is circulating among member states a list of U.S. goods to target so that it can respond as quickly as possible. “We cannot see how the European Union, friends and allies in NATO, can be a threat to international security in the U.S.,” Malmstroem told reporters. “From what we understand, the motivation of the U.S. is an economic safeguard measure in disguise, not a national security measure.” Trump has long railed against what he deems unfair trade practices by China and others, and last week declared that his government would levy penalties of 25 percent on imported steel and 10 percent on aluminum imports. The tariffs, he said, would remain for “a long period of time,” but it was not clear if certain trading partners would be exempt. Malmstroem said. Nick Note: This will not go away. Trump has a hard on for trade AND he does not understand it. its not just the balance of trade deficit. People want China goods and US made is not competitive. Its a competition problem more then anything else. US factory automation is a partial solution and to up our game on intellectual property. These concepts are beyond Trumps comprehension and certainly above FOX News ratings….. So prepare yourself for a round of stupid

 

CNN Travels to Thailand to Speak with Prostitute Who Claims to Have Dirt on Trump

The Belarus-born prostitute hopes America will grant her asylum in exchange for her tale
CNN is dispatching reporters around the world to help dig up clues and finally get to the bottom of the Trump campaign’s Russia ties. Last month the network infamously sent a reporter to St. Petersburg, where he literally dug around a dumpster looking for leads.  Today CNN sent a reporter to Bangkok to speak with a prostitute who claims to have the goods on the Trump camp’s alleged collusion with Russia. The woman, Anastasia Vashukevich, who is also a self-described “sex coach,” is currently imprisoned, and hopes that America will offer her asylum in exchange for her story.   CNN apparently found this tale credible enough to send a reporter to cover.  CNN’s Ivan Watson met with the woman and reports: “She described herself as a seductress. This woman claims to have evidence of Russian meddling in the U.S. election. The question, is this a desperate ploy to get out of jail, or as her friend claims, is this young woman truly in danger because she knows too much?” Vashukevich is presently imprisoned in Bangkok after being accused of plying her trade without a permit.   “For days several Russian friends have been held at this jail in the capital of Thailand where visitors are not allowed to bring cameras,” Watson continued in his report. “I came out of this detention center. It was loud and hot and chaotic and talking through the bars she says she witnessed meetings between the Russian billionaire and three Americans who she refused to name. He claims they discussed plans to effect the U.S. elections but she wouldn’t give any further information because she fears she could be deported back to Russia.”

CNN hyped her possible credibility in noting that she was once photographed with a Russian billionaire, Oleg Deripaska, whom Paul Manafort was associated. Deripaska said she’s not his mistress and she’s simply trying to use him to get out of jail.  If American authorities are uninterested in her tales of Trump/Russia collusion, Vashukevich also claims to have tapes she made documenting Russian government crimes.  CNN, we can be sure, will remain on this story. Nick Note: Would it not be ironic if a hooker ends up bringing down the whoremaster and Chief.  The credible part is she has pictures with her and Trumps Russian beauty contest partner at the time Trump was in Russia!!!!! What do you give her chances of making it our of Thailand alive?

Ex-spy’s illness stirs UK to warn of action against Russia

SALISBURY, England (AP) — Britain will respond “appropriately and robustly” if Russia’s involvement is established in the case of an ex-Russian spy who became critically ill after coming into contact with an “unknown substance” in southern England, the U.K. foreign secretary said Tuesday. Boris Johnson told lawmakers in the House of Commons that he wasn’t “pointing fingers” as to who might be responsible for the collapse of Sergei Skripal, who was found slumped on a bench together with his daughter Yulia on Sunday. But he stressed that if state involvement was proven, Britain would take action. “I say to governments around the world that no attempt to take innocent life on U.K. soil will go either unsanctioned or unpunished,” he said. Johnson said the crisis could affect British participation at the soccer World Cup in Russia this summer. He said that if Russian involvement is proved, “it will be very difficult to imagine that U.K. representation at that event will go ahead in the normal way.” British counterterror specialists took over the investigation from local authorities as they sought to unravel the mystery of why Skripal and his daughter collapsed in Salisbury, 90 miles (145 kilometers) southwest of London. Though authorities were trying to keep an open mind, the incident drew parallels to the death of former Russian agent Alexander Litvinenko, who was poisoned with radioactive polonium in 2006 in London. Nick Note: This is what Trump ad his family is dealing with. Russia takes a long view and everyone knows they screw over those who screw over them!

 

Trump Lawyer Michael Cohen Complained He Wasn’t Reimbursed for Stormy Daniels Payment, Report Says

Trump lawyer Michael Cohen complained to friends that he wasn’t reimbursed for paying the porn star (real name Stephanie Clifford) $130,000 to stay quiet about an alleged 2006 affair with Trump, according to The Wall Street Journal. That revelation relied on background sources described as “people familiar with the matter, ” but Cohen, when reached for comment about this and other details, said “Fake News.” Cohen admitted in February that the payment was made, but didn’t provide the reason for it. “Neither the Trump Organization nor the Trump campaign was a party to the transaction with Ms. Clifford, and neither reimbursed me for the payment, either directly or indirectly,” Cohen told The New York Times. He said it wasn’t a campaign contribution. That statement is important because if Trump and his campaign did, er, collude with the payment, then it could have violated campaign finances laws. The watchdog group Common Clause filed a complaint, asking for an investigation into the payment after the WSJ first reported it. The report also mentioned that the First Republic Bank, through which Cohen made the payment, flagged it as suspicious and reported it to the Department of Treasury. That detail was from a “person familiar with the matter.” Both the bank and treasury officials declined to comment on this.

PayPal Seeks Patent For Faster Cryptocurrency Payment Technology

paypal-cryptopayment-030518-lt.jpg

PayPal, a global online and mobile payment processing company, is exploring how to make cryptocurrency payments faster. The company has sought a patent for a new method that largely relies on transferring private keys, which are codes made with numbers and letters that are used for cryptocurrency transactions, from a buyer to a seller, an application with the US Patent and Trademark Office showed. The patent application titled “Expedited Virtual Currency Transaction System” dated March 1 was first spotted by the blockchain news website Coindesk. Bitcoin transactions often take lot of time, sometimes hours, to complete and PayPal is addressing exactly this issue. The proposed method for cryptocurrency payment “practically eliminate the amount of time the payee must wait to be sure they will receive a virtual currency payment in a virtual currency transaction by transferring to the payee private keys that are included in virtual currency wallets that are associated with predefined amounts of virtual currency that equal a payment amount identified in the virtual currency transaction”, the company said in the application. The San Jose, California-based PayPal, which was founded in 1998, formed partnerships with Bitcoin payment processors in 2014 to allow digital goods merchants to accept payments through its PayPal Payments Hub.  Nick Note: This is a very smart move on the part of PayPay. The first major in the money transfer business to stake a claim to bitcoin will have a tremendous advantage over their competitors.

Trump threatens to tax European auto imports

German Cars Loading on Ship to USA

WASHINGTON (Reuters) – U.S. President Donald Trump kept up pressure on trading partners on Saturday, threatening European automakers with a tax on imports if the European Union retaliates against his plan to slap tariffs on aluminium and steel. Trump’s tweet showed he is refusing to yield to U.S. business interests and foreign trading partners alarmed at the prospect of a trade war that rattled financial markets this week. “If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S.,” Trump wrote on Twitter.“They make it impossible for our cars (and more) to sell there. Big trade imbalance!”Trump’s threat comes amid mounting transatlantic tension on trade. On Thursday, Trump said the United States would apply duties of 25 percent on imported steel and 10 percent on aluminium to protect domestic producers.The next day, European Commission President Jean-Claude Juncker told German television that“We will put tariffs on Harley-Davidson (motorcycles), on bourbon and on blue jeans – Levis.” Canada also has said it will retaliate for any tariffs on steel and aluminium.Trump had tweeted on Friday that trade wars are good and“easy to win,” roiling U.S. financial markets. In January 2017, Trump warned German car companies he would impose a border tax of 35 percent on vehicles imported to the U.S. market. Nick Note: Trump has been itching for a fight on trade. Well he has got one. And the US will lose and you will pay a lot more for goods and services and the fat cats will get fatter!

Ex-CIA chief: Trump ‘unstable, inept, inexperienced, and also unethical’

Former CIA chief John Brennan on Friday predicted “rough waters ahead,” particularly on international issues, because President Trump is “unstable, inept, inexperienced, and also unethical.” In an interview with MSNBC’s “Deadline: White House,” Brennan told host Nicole Wallace that the president was “ill prepared” to take on the duties of commander-in-chief, particularly growing military aggression from Russia and North Korea. “It is no secret to anybody that Donald Trump was very ill prepared and unexperienced in terms of dealing with matters that a head of state needs to deal with, head of government, and I think this is now coming to roost,” Brennan said.

“[O]ur country needs to have confidence that we’re going to be able to deal with Mr. Putin, who is flexing his muscles once again on the military front, that we can deal with North Korea, that we can deal with these issues. And if we have somebody in the Oval Office who is unstable, inept, inexperienced, and also unethical – we really have rough waters ahead.”

The former CIA chief under President Obama went on to hit Trump for tweeting at actor Alec Baldwin over his “Saturday Night Live” impression of Trump rather than responding to Russian President Vladimir Putin, who announced the previous day the development of missiles he claimed would render defense systems “useless.”

“When I hear what Vladimir Putin was saying just yesterday about the nuclear capabilities he has, the President of the United States is tweeting about Alec Baldwin this morning, I mean, where is your sense of priorities?” Brennan asked. “I think a lot of Americans are looking at what’s happening with a sense of — this is surreal.” The Russian leader told lawmakers this week that new intercontinental ballistic missiles developed by the country could reach almost any target in the world. “I want to tell all those who have fueled the arms race over the last 15 years, sought to win unilateral advantages over Russia, introduced unlawful sanctions aimed to contain our country’s development … you have failed to contain Russia,” he said. Nick Note: Russia has broken all arms agreements! They have and are and will interfere in our elections. And the sanctions Trump signed into law he has not initiated. Obviously they have a video tape and financial records Trumps does not want you to see. It is a crises when the President of the United States has been compromised. Russia needs to be stopped NOW. And Trump does NOTHING! This is not some Bull SHIT “Deep State” conspiracy. This is a President who is a Friend of Putin as he so stated. Now get out your flag and fly it at half mast. And ask yourself why the President is not stopping Russia? Why has he put no sanctions on Russia while criticizing Obamma. The horrible answer is obvious!

 

Electrolux puts $250 million U.S. investment on hold over Trump tariff hike

 FILE PHOTO – The Electrolux logo is seen during the IFA Electronics show in Berlin, Germany September 4, 2014. REUTERS

STOCKHOLM (Reuters) – Sweden’s Electrolux Europe’s largest home appliance maker, said on Friday it would delay a planned $250 million investment in Tennessee, after U.S. President Donald Trump announced tariffs on imported aluminum and steel. On Thursday, Trump said the duties — 25 percent on steel imports and 10 percent on aluminum — would be formally announced next week, although White House officials later said some details still needed to be ironed out.“We are putting it on hold. We believe that tariffs could cause a pretty significant increase in the price of steel on the U.S. market,” Electrolux spokesman Daniel Frykholm said. Electrolux buys all the steel it uses in its U.S. products domestically.“So this is not the possibility of tariffs directly impacting our costs, but rather the impact it could have on the market and that it could damage the overall competitiveness of our operations in the U.S.,” Frykholm said. The company is waiting to see the final details of the U.S. plans before making a final decision, he said. Electrolux had said in January it would invest $250 million to expand and modernize its plant in Springfield, Tennessee.

U.S. Ambassador to Mexico to resign amid tense bilateral relations

FILE PHOTO: U.S. Ambassador to Mexico Roberta S. Jacobson Mexico City, Mexico February 13, 2018. REUTERS/Edgard Garrido/File Photo

MEXICO CITY (Reuters) – The U.S. Ambassador to Mexico, Roberta Jacobson, said on Thursday she would step down from the job in May, joining a growing list of senior U.S. State Department officials to resign from the agency during the presidency of Donald Trump. Jacobson’s decision comes as relations between the two neighboring nations are at a low ebb, thanks to Trump’s threats to abandon the North American Free Trade Agreement (NAFTA) and force Mexico to pay for a border wall. Nick Note: The smartest thing anyone can do associated with the Trump administration can do is RUN! Get as far away from the coming Trump Train wreck. This president is imploding.. He knows the Special Prosecutor is on to him. AND Trump truly does not know what to do. WARING WARNING He who GOD is about to DESTROY he makes CRAZY first. And Trup is CRAZY!!!!

4 Fed rate hikes this year would be ‘gradual’: Dudley

Ashlee Espinal | Reuters
William C. Dudley, President of the Federal Reserve Bank of New York

New York Federal Reserve President William Dudley said that the interest-rate rises by the Fed this year would be gradual. Recent fiscal stimulus and signs of inflation have convinced some investors that four hikes are likely this year. William C. Dudley, President of the Federal Reserve Bank of New York Four interest-rate rises by the Federal Reserve this year would constitute a “gradual” tightening, New York Fed President William Dudley said on Thursday, offering his definition of what has become a policy mantra from U.S. central bankers. “If you were to go to four, 25-basis-point rate hikes I think it would still be gradual,” the influential official said at a Sao Paulo conference, noting that would be half as aggressive a policy tightening as the Fed conducted last decade. Fed forecasts from December point to three expected hikes this year, though recent fiscal stimulus and signs of inflation have convinced some investors that four is more likely. Dudley added that U.S. fiscal policy is turning “quite stimulative.”

Chicago Business Barometer Indicates Notably Slower Growth In February

ChicagoPMI-022818-lt.jpg

Growth in Chicago-area business activity slowed by much more than anticipated in the month of February, according to a report released by MNI Indicators on Wednesday. MNI Indicators said its Chicago Business Barometer dropped to 61.9 in February from 65.7 in January. While a reading above 50 still indicates growth, economists had expected the index to show a more modest drop to 64.2.

With the much bigger than expected decrease, the Chicago business barometer fell to its lowest level since August of last year.

The steep drop by the business barometer was primarily due to a continued slowdown in new orders growth, as the new orders index fell to a six-month low. The production index also showed a continued decrease in February, falling to a level last seen lower in September. The report said hiring intentions also eased in February, with the employment index edging down from the nearly six-year high set in January. On in the inflation front, input price inflationary pressures remained elevated in February despite receding from January’s four-month high. “A large proportion of firms are anxious about the cost of input materials, and warn they could pass on these higher costs to consumers if inflationary pressures do not abate,” said Jamie Satchi, Economist at MNI Indicators. Nick Note: Figure it out… We are headed for a recession…… NOW!

US crude oil output hit an all-time high in November, taking out the 1970 record, new data show

U.S. oil production surged to an all-time high in November, topping the previous record set nearly half a century ago, government data showed on Wednesday.

Oil field workers on a rig in Tioga, North Dakota.
Ken Cedeno | Corbis | Getty Images Oil field workers on a rig in Tioga, North Dakota.

The nation’s drillers pumped 10.057 million barrels a day in November, the U.S. Energy Information Administration said in a monthly report. That edges out the previous record of 10.044 million barrels a day set in November 1970. The record-setting output comes after a revision to last month’s report showing November’s output leaped to 10.038 million barrels a day. While the new all-time high production shows American drillers pulled ahead of Saudi Arabia to briefly become the world’s second biggest producer, the United States may have slipped back into third place in December. The first monthly reading for December shows U.S. output slid back to 9.949 million barrels. Saudi Arabia pumped just under 10 million barrels a day in December, according to figures from the kingdom and independent sources. The Saudis are limiting their output as part of a deal among two dozen producer nations that aims to reduce global stockpiles following a prolonged oil price slump. Saudi Arabia was producing as much as 10.7 million barrels a day before it began turning off the taps, but U.S. drillers are on pace to produce roughly that much this year. EIA forecasts American production will average 10.6 million barrels a day in 2018. EIA projects U.S. output will average 11.2 million barrels a day next year, positioning the nation to overthrow Russia as the world’s top producer.ing output from America’s shale fields, where drillers use advanced drilling methods to squeeze oil and gas from shale rock formations. Nick Note: Bring it on. Screw coal… Wanna make America great again it will be oil.. And lot and LOTS of very high paying jobs

 

U.S. growth rate in 4th quarter downgraded to 2.5%, GDP shows

Slower inventory buildup a drag on official scorecard for economy
Getty Images

The annual pace of growth in the U.S. was trimmed to 2.5% from 2.6% in the fourth quarter, leaving a picture of a steadily growing economy intact.

A slower inventory build accounted for the downward revision.  Every other key figure in the latest update to gross domestic product was virtually unchanged. The increase in consumer spending, for example, was left at 3.8%.

For the full year, the U.S. expanded 2.3% vs. a 1.6% increase in 2016. The economy got a big lift from consumer spending at the end of the year and businesses also increased investment. In its latest GDP update, the government said spending on structures rose somewhat faster at 2.5% annual rate. Investment in housing was raised a bit to show a 13% increase. Yet the value of unsold goods, or inventories, rose by just $8 billion in the fourth quarter, compared to a $38.5 billion advance in the fall. Slower inventory growth was a big drag on GDP, the official scorecard for the U.S. economy. A bigger trade deficit was another.  Americans are unlikely to spend as much in the first quarter, but the U.S. economy is doing just fine. GDP is forecast to grow 2.6% in the first three months of 2018 despite the usual winter-related headaches. The Trump tax cuts and a sharp increase in federal spending are also expected to give the economy a shot of caffeine and help extend an expansion that’s almost nine years old. Nick Note: Don’t let them shit you any more. The 6% rate Trump promised is just more blow and go. So is the 5%, 4% and even the 3% growth promised. Which means the US economy is dead meat! That is why the yearly deficit tripled under Trump. Read it and weep. we have been had.

U.S. Pending Home Sales Unexpectedly Slump 4.7% In January

PendingHomeSales-022818-lt.jpg

Pending home sales in the U.S. unexpectedly showed a steep drop in the month of January, the National Association of Realtors revealed in a report on Wednesday. NAR said its pending home sales index tumbled by 4.7 percent to 104.6 in January from a downwardly revised 109.8 in December. Economists had expected pending home sales to rise by 0.3 percent. A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale. With the unexpected decrease, the pending home sales index slumped to its lowest level since hitting 104.1 in October of 2014. The index is down by 3.8 percent year-over-year. “There’s little doubt last month’s retreat in contract signings occurred because of woefully low supply levels and the sudden increase in mortgage rates,” said NAR chief economist Lawrence Yun. He added, “With the cost of buying a home getting more expensive and not enough inventory, some prospective buyers are either waiting until listings increase come spring or now having to delay their search entirely to save up for a larger down payment.” NAR said the number of available listings at the end of January was at an all-time low for the month and a startling 9.5 percent below a year ago. The unexpected drop in pending home sales reflected decreases in all four regions of the country, with pending sales in the Northeast plummeting by 9.0 percent. Pending home sales in the Midwest and South also slumped by 6.6 percent and 3.9 percent, respectively, while pending sales in the West fell by 1.2 percent. Yun forecasts for existing home sales to be around 5.50 million in 2018, roughly unchanged from 5.51 million in 2017. The national median existing home price is expected to increase around 2.7 percent this year after jumping by 5.8 percent last year.On Monday, the Commerce Department released a separate report unexpectedly showing a steep drop in new home sales in the month of January. The report said new home sales plunged by 7.8 percent to an annual rate of 593,000 in January after slumping by 7.6 percent to an upwardly revised 643,000 in December.The continued decrease surprised economists, who had expected new home sales to jump by 3.2 percent to a rate of 645,000 from the 625,000 originally reported for the previous month. Nick Note: The housing house of cards is coming tumbling down

Trump taps ‘digital guru’ to run 2020 re-election campaign

Brad Parscale was media director of Trump campaign
AFP/Getty Images
President Donald Trump has tapped a ‘digital guru’ to lead his 2020 campaign.

President Trump will throw his hat in the ring for the 2020 presidential election and has tapped a “digital guru” to helm his campaign, reports on Tuesday said. Trump will name Brad Parscale who designed the Trump campaign’s website and later was appointed media director, as his reelection campaign chairman, Drudge first reported. Parscale first came to work at the Trump Organization in 2011 as a digital strategist. The Kansas native is credited with bolstering the Trump campaign’s presence on social media and for increasing funding via online contributions, but he was also criticized for using “dark posts” during the election, including spreading a video from 1996 in which Hillary Clinton was talking about “super predators” in an effort to discredit her among black voters. Parscale in an interview last year with CBS’ “60 Minutes” said he also used sophisticated posts on Facebook, which he called the “500 pound gorilla,” and other platforms to target specific audiences and energize them around issues backed by Trump. He was summoned last year to appear before the House Intelligence Committee investigating Russian meddling in the 2016 election and any collusion by associates of the Trump campaign. He has denied that the campaign used information supplied by the Russians to disrupt the campaign. Nick Note: what he forgot to mention is the campaign provided purple state data to the Russian Trolls to target. Either way call the 2020 campaign of Trump wishful thinking…it will never happen! Maybe Pence has a opening!

Tax overhaul shaves U.S. bank profits 40.9 percent in fourth quarter: FDIC

FILE PHOTO: Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation

WASHINGTON (Reuters) – U.S. bank profits were down 40.9 percent in the fourth quarter of 2017 from a year earlier, due primarily to one-time accounting changes from the new tax law which is expected to boost profits in the long run, the Federal Deposit Insurance Corp (FDIC) said on Tuesday.

 Absent the changes spurred by the tax law, bank profits were estimated to drop 2.3 percent to $42.2 billion in the fourth quarter, according to the regulator.
Net interest income was up 8.5 percent to $129.5 billion. The brunt of the tax-spurred decline was borne by larger banks, who had already been reporting eye-popping losses at the end of 2017. Large institutions took a disproportionate hit on earnings held abroad and the rewriting of the value on deferred tax assets. Citigroup, for example, reported an $18 billion loss at the end of 2017 thanks to the updated tax law. FDIC Chairman Martin Gruenberg said the industry’s performance remains positive, as the number of problem banks dropped to just 95, the lowest level since the first quarter of 2008. “Notwithstanding the one-time impact of the new tax law, the overall performance of the industry continued to be positive,” he said.

However, he said low interest rates and a competitive lending environment has led some banks to reach for yield, heightening risks. “The industry must manage interest-rate risk, liquidity risk, and credit risk carefully to continue to grow on a long-run, sustainable path,” said Gruenberg. Nick Note: You can put a elephant in a bikini and call it a sexy blond.  But their is still a elephant in the room. Banks are in big big trouble as short rates soar to te moon,  the Yield curve flattens and soon inverts. They are ALL dead meat!

Trade deficit in goods widen 3% to $74.4B

The U.S. Census Bureau announced the following international trade, wholesaleinventories, and retail
inventories advance statistics for January2018:
Advance International Trade in Goods
The international trade deficit was $74.4 billion in January, up $2.1 billion from $72.3 billion in December.
Exports of goods for January were $133.9 billion, $3.1 billion less than December exports.
Imports of goods for January were $208.3 billion, $0.9 billion less than December imports.Advance Wholesale Inventories  adjusted for seasonal variations but not for price changes, were estimated at an end -of-month level of $617.7 billion, up 0.7 percent (±0.4 percent) from December 2017, and were up 4.5 percent (±0.7 percent) from January 2017. The November 2017 to December 2017 percentage change was revised from up 0.4 percent (±0.4 percent)* to up 0.6 percent (±0.4 percent).
Advance Retail Inventories Retail inventories for January, adjusted for seasonal variations but not for price changes, were estimated at an end -of-month level of $626.2 billion, up 0.8 percent (±0.2 percent) from December 2017, and were up 2.4 percent (±0.5 percent) from January 2017. The November 2017 to December 2017 percentage change was revised from up 0.2 percent (±0.2 percent)* to up 0.3 percent (±0.2 percent)

U.S. Durable Goods Orders Pull Back More Than Expected In January

Durablegoodsorders-US-022718-lt.jpg

After reporting a bigger than expected jump in orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Tuesday showing durable goods orders pulled back by more than expected in January.

The Commerce Department said durable goods orders plunged by 3.7 percent in January after surging up by a revised 2.6 percent in December.

Economists had expected durable goods orders to drop by 2.0 percent compared to the 2.8 percent jump that had been reported for the previous month. The bigger than expected decrease in durable goods orders was primarily due to a sharp pullback in orders for transportation equipment, which slumped by 10.0 percent in January after spiking by 6.4 percent in December. Orders for non-defense aircraft and parts plummeted by 28.4 percent in January after soaring by 16.1 percent in December, while orders for defense aircraft and parts dove by 45.6 percent after shooting up by 47.8 percent. Excluding orders for transportation equipment, durable goods orders edged down by 0.3 percent in January compared to the 0.7 percent increase in the previous month. Ex-transportation orders had been expected to rise by 0.4 percent. The unexpected drop in ex-transportation orders reflected decreases in orders for machinery, primary metals, and electrical equipment, appliances, and components. The report also said orders for non-defense capital goods excluding aircraft, an indicator of business spending, dipped by 0.2 percent in January after falling by 0.6 percent in December. Andrew Hunter, U.S. Economist at Capital Economics, said, “Looking ahead, although some measures of capex intentions remain at a high level, the latest business surveys point to a further slowdown in underlying durable goods orders.” Nick Note: the slow down is upon us. Look out below!

 

 

California takes humans out of driverless cars

LOS ANGELES (AP) — Driverless cars will be tested in California for the first time without a person behind a steering wheel under new rules that state regulators approved Monday for the fast-developing technology. The regulations are a major step toward getting autonomous vehicles to dealerships and onto the streets of California, where companies such  as Tesla and Waymo are leading the way on the technology. The vehicles will no longer need to have drivers inside during tests, but people will still be in charge. Under the regulations, driverless cars being tested on public roads must have a remote operator monitoring at all times, ready to take over as needed.  As the technology is developed the vehicles will still require constant supervision from “remote” drivers, or technicians who monitor car functions from a remote location. Nick Note: The self driving car is becoming reality faster then most people realize. Be aware of the red lantern people. Those are the decedents of the folks who made rules when cars first took to the roads  that a man had to walk in front of a car with a flag and a red lantern. We will have the first self driving car wreck and the people stuck in the past will have a field day. But just like fracking the self driving car will soon be a reality and its a game changer.

Goldman: A big surge in yields would cause stocks to fall as much as 25%

A further big rise in the 10-year Treasury yield this year would lead to a dramatic decline in the stock market, according to Goldman Sachs. “While our base case looks for a gradual rise in the 10-year rate to 3.25% by year-end, we next stress test the outlook for a larger increase to 4.5%,” economist Daan Struyven wrote in a note to clients Saturday.

“A rise in rates to 4.5% by year-end would cause a 20-25% decline in equity prices.”

Struyven said such a sudden increase in bond yields “would cause a sharp slowdown but no recession.” He estimates the higher interest rates in such a scenario would detract 0.5 percentage points of GDP growth from the U.S. economy this year and lower growth by 1 percentage point in 2019. The U.S. 10-year Treasury yield, which moves inversely to bond prices, had climbed to four-year high of 2.95 percent earlier in the month after the strong January jobs report. Nick Note: Rates are going a lot higher, the economy will go into a recession and then depression when Trump resigns and the stock market will crash. Have a nice day!

Morgan Stanley gets bullish on bonds

The selloff in Treasuries, that began in earnest in September and ramped up in January, is ending, according to Morgan Stanley, taking on Goldman Sachs and Warren Buffett with a bullish bond call. “We think the bell has tolled for the best of the bear market in longer-duration bonds,” said to the team led by Matthew Hornbach, global head of interest-rates strategy. “We like the long end.” Nick Note: Absolutely LONG bonds are a GREAT BUY! The short end will go a LOT higher as the yield curve inverts…. It always does in a recession. AND the beloved 30 year strip is a buy.. AS their yields will fall. The right Bonds need to be purchased  of course!!. BUY BUY BUY BUY !

Quantitative Hedge Funds Hit Hard by Slumping Equities

The downturn in the US equities market set back CTA hedge funds, due to heavy bullish exposure

Amid a sudden tumble of US stock index prices, many quantitative, computer-driven hedge funds, endured a major downward slump since the start of the year.

These quantitative hedge funds are notorious for following market trends, and riding the wave toward profitability, as they attempt to dissect the turning point of each trend to decipher the appropriate exit point.

The sudden turn in the stock market, which had been on a historic bullish run, caught many hedge funds by surprise, and they consequently paid the price, recording substantial losses in the process. The Financial Times (FT) recently published an article on hedge funds known as Commodity Trading Advisers (CTAs), and attributed the big losses to a heavy investment in US equities. On the heels of 2017’s strong performance of the equities market, the bullish sentiment among CTAs was exemplified by the largest monthly flow of funds into equities, since January of 1987. Since the nature of CTAs is to follow market trends, it makes sense that when the market took a swift downturn, these hedge funds were hit very hard. According to the FT, CTAs endured their poorest monthly performance since November 2001, as the Société Générale’s CTA index has dropped 5.55%, despite the market’s more recent recovery. While the CTA index has shed over 5.5% of its value, many hedge funds took a more significant beating, due to heavy market investments and trend chasing. Man AHL’s $1.1 billion fund shed approximately 10% of its value in a period of just over 2 weeks, from February 1 through 16. Meanwhile, AHL Evolution and Alpha funds also endured losses of between 4% to 5%, during the same period. Some of the biggest losses in percentage were seen by Lynx Asset Management and GAM’s Cantab Capital, which shaved off 12.7%, and 9.5%, respectively. Roy Niederhoffer’s managed fund took a major hit in the market’s slump, dropping 21.1% from the start of February through the 20th of the month. Further explaining the reasons for the heavy losses is Head of Wadhwani Asset Management, Sushil Wadhwani, who said: “Trend-followers are either long or short equities on any given day. Obviously, after a significant upward move, they were likely to be long and therefore vulnerable to a quick downward move.” Nick Bit: these guys are about to wipout big time. The Trend will be their end!