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Jonathan Cahn’s latest best-seller is called “The Book of Mysteries.” Cahn says, “The Book of Mysteries is literally opening up hundreds of the mysteries of God. Everything from the mysteries of the end times, mysteries behind history, mysteries of Heaven and mysteries of finding your own destiny, as well. The reason I was led to do this book is I believe we are going to have very challenging times ahead, especially for believers, very challenging times. God wants people to be strong. People say how do I stand? How do I flourish? You can flourish in the days ahead, and you can actually prosper in the days ahead, and I am not just talking about financially. I am talking about in the most important ways. So, I wrote “The Book of Mysteries” to give strength to everybody. It’s not only for believers, but it is for non-believers because people are reading it, and they are coming to the Lord.”
On the Middle, East Cahn says, “Every single nation that has blessed Israel has been blessed, and every single nation that has cursed Israel has been cursed. It’s not just that, but whatever you do to Jewish people gets done back to you. We are at a dangerous point, we have been blessed, but as we turn from Israel, watch out because it’s a perfect storm. . . . There is no peace for the Middle East. It is always a tinder box. . . . Do I see peace? Absolutely not, until as with America, the reconciliation comes with God. . . . If you don’t have peace with God, this is how you get it. This is the whole point of the book.”
Following last night’s shooting at the Cascade Mall in Burlington, WA mall, when an unidentified gunman killed 5 then managed to slip away from authorities for nearly 24 hours, moments ago the Washington State Patrol tweeted that the shooter has, after a daylong manhunt, been captured.
Gunman captured tonight by authorities, Details forthcoming, Press Conference tonight at 1800 Continental Pl. Time TBA
Allied Bank, Mulberry, Arkansas, was closed today by the Arkansas State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Today’s Bank, Huntsville, Arkansas, to assume all of the deposits of Allied Bank.
The five branches of Allied Bank will reopen as branches of Today’s Bank during its normal business hours. Depositors of Allied Bank will automatically become depositors of Today’s Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Allied Bank should continue to use their existing branch until they receive notice from Today’s Bank that it has completed systems changes to allow other Today’s Bank branches to process their accounts as well.
September 2016 – WASHINGTON – The man suspected of killing five people in a deadly shooting rampage at a mall in Burlington, Wash., was busted after an intense 24-hour manhunt that garnered a flurry of tips, according to state police. Arcan Cetin, 20, was captured less than 30 miles from Cascade Mall where he unleashed mayhem with a hunting rifle, police said. A vehicle Cetin used to flee the attack was found in Oak Harbor at around 6:30 p.m. Saturday on Whidbey Island, authorities said at a press conference. Within minutes, two Island County Sheriff’s Office deputies had the dazed suspect surrounded at N. Oak Harbor St. near NE 7th Ave.
“I veered left, hit my lights and pulled my gun,” said Island County Lt. Mike Hawley after seeing Cetin walking along a street. “He said nothing,” Hawley added. “He was just kind of zombie-like, which is the best I could describe him.” Cetin was unarmed at the time of his capture. A witness who saw Cetin outside her kitchen window during the arrest said he was wearing the same black clothes pictured in surveillance footage at mall, according to KIRO-TV. Court records also obtained by the Seattle television station detailed Cetin’s history of mental health problems.
johngaltfla.com / by John Galt / September 24, 2016 21:25 ET
As the Cruz Crew continues to implode over his recent endorsement of Donald Trump, a sad reality has emerged within the conservative media and deliberately bled into the mainstream so as to provide some modicum of cover for Senator Cruz and those within the Trump camp who did not want his endorsement.
The most fascinating part of the narrative has been the sudden addition of potential judicial nominees to the Supreme Court that Donald Trump released the day before Ted Cruz endorsed him. In fact Senator Cruz reminded everyone about this while speaking at the Texas Tribune Festival tonight:
Cruz says he is reassured by the fact that the SCOTUS list included a commitment that Trump would ONLY choose from among the 21 listed.
The Russian government deceived itself with its fantasy belief that Russia and Washington had a common cause in fighting ISIS. The Russian government even went along with the pretense that the various ISIS groups operating under various pen names were “moderate rebels” who could be separated from the extremists, all the while agreeing to cease fighting on successive verges of victory so that Washington could resupply ISIS and prepare to introduce US and NATO forces into the conflict. The Russian government apparently also thought that as a result of the coup against Erdogan, which was said to implicate Washington, Turkey was going to cease supporting ISIS and cooperate with Russia.
Alas, the Russians so fervently, or perhaps I should say feverishly, desired an agreement with Washington that they deceived themselves. If Finian Cunningham’s report is correct, Washington has taken advantage of Russia’s urging that Washington and Turkey join in the attack on ISIS by invading northern Syria under the guise of “fighting ISIS.”
Syria has now been partitioned, and the pretend or fake “moderate rebels” can be built up inside the US/Turkish occupied areas of Syria and the war against Syria kept going for as long as Washington wants. The western presstitutes will report that the Turkish/American forces occupying areas of Syria are not invaders but are attacking ISIS.
It’s really quite embarrassing on a global scale when members of our own government seem to be deliberately trying to pick fights with people who aren’t interested in fighting with us. If you’ve traveled outside of the United States much, you probably know that we Americans have a rather negative reputation off of our own shores. Now, generally speaking, that isn’t our fault as individuals. You and I don’t create headlines that make waves throughout Europe and Asia.
I was able to get a summer internship at a company that does work in the industry I want to work in after I graduate. Even though the division I was hired to work in doesn’t deal with clients or customers, there still was a very strict dress code. I felt the dress code was overly strict but I wasn’t going to say anything, until I noticed one of the workers always wore flat shoes that were made from a fabric other than leather, or running shoes, even though both of these things were contrary to the dress code.
I spoke with my manager about being allowed some leeway under the dress code and was told this was not possible, despite the other person being allowed to do it. I soon found out that many of the other interns felt the same way, and the ones who asked their managers about it were told the same thing as me. We decided to write a proposal stating why we should be allowed someone leeway under the dress code. We accompanied the proposal with a petition, signed by all of the interns (except for one who declined to sign it) and gave it to our managers to consider.
armstrongeconomics.com / by Martin Armstrong / Sep 25, 2016
The weekly White House Watch telephone survey by Rasmussen Reports finds Trump with 44% support among Likely U.S. Voters to Clinton’s 39%. Libertarian candidate Gary Johnson earns eight percent (8%) of the vote, while Green Party nominee Jill Stein holds steady at two percent (2%). Three percent (3%) like some other candidate, and five percent (5%) are still undecided. It is still entirely possible given the debate tomorrow night that Trump could get maybe the highest percent of the popular vote than any Republic in history. When it comes to terrorism, Trump is trusted above Hillary. Certainly, a Trump victory would be the most interesting for the NY bankers will be start shaking in their boots. They have bought the media, polls, and the Democrats as well as the neoconservative Republicans. They do not own Trump. This may be the most entertaining president in history if he wins.
Immigration has been and will continue to be a hot button topic in the 2016 presidential campaign. Trump has called for a wall along the U.S. southern border with Mexico and a halt to all immigration from certain “countries of concern to national security.” Meanwhile, Hillary has called for more relaxed immigration policies that would grant illegal immigrants a path to citizenship and a surge in Syrian refugees.
But, no matter where you stand politically on immigration, a group of the nation’s “smartest” professors from the most elite schools in the country recently came together to publish a 500-page study for the “National Academies of Sciences, Engineering and Medicine” on the economic and fiscal impacts of immigration. After what must have been countless months of research, the report seems to confirm what most people could have derived from applying simple logic, namely that while immigration expands the economy it also negatively impacts the employment of low-skilled native workers and places undue burden on federal and state entitlements like food assistance programs and Medicaid.
The full 500-page immigration study can be reviewed at the end of this post but here are the key takeaways…
First, the study finds that the lower median age of immigrants is a positive offset to the aging U.S. population and serves to enlarge the economy but notes that the key beneficiaries are the immigrants themselves and not the native citizens.
Housing demand growth is slowing, so why is housing inflation continuing at a steady pace more than twice the rate of the CPI? The answer is simple- tight supply and a mortgage rate subsidy that reduces the effective cost of a house to the buyer, thereby increasing the purchase price that buyers can pay.
The initial effective cost of a house purchase is the monthly payment. If you own a home or are considering buying one and if, like most homeowners, you have a mortgage, your first concern is not the price of the house. First you determine what you can afford to pay. This is based on the ratio of the monthly payment, what those in the industry call “PITI,” to your household income. Under the standard qualifying ratio, the monthly PITI should not exceed 28% of gross household income. Buyers look at the cost of a purchase as being limited to that amount. Loan underwriting gets a little fuzzy around the edges, but there’s a market wide qualifying ratio limit somewhere just above that level. Once the preponderance of buyers in the market has hit that level, they can’t and won’t pay more for home purchases than that line in the sand. When that limit is reached, sales volume begins to recede and inventory increases. Sale prices then fall.
armstrongeconomics.com / by Martin Armstrong / Sep 25, 2016
The government has its pawns cheering the end of money. They are screaming that $1.4 trillion exists in cash and half of that is $100 bills. Justine Underhill writes that ending cash could be great for the economy. I think that is only great for government for this is all about getting more taxes. Kenneth Rogoff, the great mouth piece for the government advocating the end of cash, put out another bullshit propaganda piece in book for: The Curse of Cash. He argues because of tax avoidance and criminal activity, there should be no cash. Rogoff says that the world is drowning in cash and this is what has been making us poorer and less safe. In The Curse of Cash, Rogoff argues that getting rid of most paper money would is the only way forward. He cares bothing for the people, and assumed the elitist approach to the issue.
There are men’s – and women’s – clothes. Different cut, different colors, different emphasis. No one sane complains that either derogates the other. If anything, the opposite. Women’s clothes make women look better; men’s also.
It’s kind of the point.
They are tailored to fit their different bodies and different preferences.
Because the sexes are not the same.
Either physically or – generally – in terms of their respective preferences. Products are routinely designed and marketed to appeal to one or the other, which makes sense if the object is to… er… sell them things.
Most men won’t be interested in jeans cut for women’s hips and most women don’t like men’s underwear. Men like baggy pants and women like high heels and – usually – each complements the other. And the problem is… ?
Why then is there an uproar – feigned, certainly – over a car oriented toward women?
It’s a little – and very cute – city car designed by SEAT, a Spanish-brand subsidiary of Volkswagen that specializes in … small, cute cars.
The beginning of the year seems ages ago. Recall how securities markets fell under significant stress. Global central bankers responded (Pavlovian) with more QE and lower rates. Here at home, the Fed suspended its rate “normalization” plan after one single little baby-step. As for the Fed’s Q2 2016 “flow of funds” report, it was almost Like Old Times. Rapid GSE growth helped to liquefy U.S. securities markets, spurring speculative leveraging and Wall Street finance more generally, including securities firms balance sheets, “repos”, funding corps and, even, mortgage lending. Credit inflated, securities markets inflated, Household Net Worth inflated and the mirage of great wealth endured.
For the second quarter, Total Non-Financial Debt (NFD) expanded at a 4.4% rate, down from Q1’s 5.4% (while matching Q2 2015). Household debt growth jumped to a 4.4% pace (from Q1’s 2.7%), the strongest expansion in two years. Total Business (including financial) debt growth dropped to 4.1% from Q1’s 9.4% pace (and vs. Q2 2015’s 7.9%), the slowest expansion in 10 quarters (Q4 2013). State & Local borrowings expanded at a 2.2% rate, up from Q1’s 0.8% to the strongest rate since Q4 2010. Federal government borrowings slowed slightly from 5.6% to 5.0%, which was about double the growth from Q2 2015 (2.7%).
No matter the outcome of the presidential election, according to BofA’s Chief Investment Strategist, Michael Hartnett, 2017 will likely be a year of small absolute returns as the bank expects higher rates will collide with high bond and equity valuations, but it will be a year of big rotations “as investors shift from ZIRP winners like bonds, US, growth stocks to ZIRP losers like commodities, banks and Japan”, where BofA forecasts 20,000 on Nikkei, although for that to happen the currency would have to implode in what may be a terminal loss of faith in the central bank.
Still, with all attention now focused on the key risk event until a potential December rate hike, namely the November 8 presidential election, BofA provides 8 specific election trades for the election.
In a note titled “Eight election trades for Nov 8th”, Hartnett shares a variety of trade ideas, some “election-specific and some result-dependent: long VIX futures; long AUDUSD vol; long TIPS; long global E-commerce, short fast restaurants (inequality); long US materials and largecap banks (fiscal); long US small caps, short emerging markets (Trump protectionist); long gold, short EU banks (Trump geopolitics); long Mexican peso (Clinton victory).”
The trading day just ended, on what may be the penultimate week of “normalcy” for generations to come. Frankly, I have never been more scared, as the certainty of my views has never been more powerful. Which are, that nothing – not Central banks, governments, nor any “supreme manipulative power” – will be able to stop the unstoppable tsunami of political, economic, and monetary reality that has already engulfed large swaths of the “emerging” world; and currently, is heading for the “developed” world full bore, like a runaway train down an icy mountain, loaded with nuclear explosives.
To that end, today’s topic is as “philosophical” as anything I’ve penned, which I believe is appropriate given the circumstances – as it’s one thing to speak of what will be, and another to experience it firsthand. Which is exactly what I think everyone reading this blog is about to live through – as a new, terrifying “normality” replaces what we have known throughout the entire post-War era.
Economically, we are unquestionably – on a worldwide basis – living amidst the weakest conditions since the Great Depression. Which sadly, is not only plunging steeply downhill, at a rapidly accelerating rate, but features the triple-barreled terminal dangers of historic oversupply; unprecedented, parabolically-rising debt; and relentlessly hyper-inflating currencies. And oh yeah, 7.4 billion people fighting to survive in a world of rapidly declining employment opportunities; rising inflation; and non-existent savings. Frankly, I’m exhausted with documenting the countless economic “horrible headlines” each day – like the Cass Freight Index plunging to nearly its 2009 financial crisis low – so I’m going to take a pass for a day. Other than to say, that today’s reality-exposing crude oil plunge – based on news that my vehement prediction of NO DEAL at next Tuesday’s Algiers producer meeting will in fact be the case – may well be the straw that breaks the financial markets’ backs.
The other day, I posted an article encouraging our readers to check out our amazing comment section. It received over 100 comments that included a discussion of an issue I’d triggered, and that we could not resolve. Now I found the answer.
I claimed – based on my vague memory of a Guardian report I’d read a couple of years ago but could no longer find – that only about 10% of the readers actually dared to go south and venture into the unknown territory of comments, where all kinds of surprises and mayhem might lurk.
This triggered a number of responses and sent some helpful commenters and me into a renewed search for this Guardian report – which remained elusive.
But I ran into a related paper from academia, authored by Natalie (Talia) Jomini Stroud, an Associate Professor in the Department of Communication Studies, Assistant Director of Research at the Annette Strauss Institute for Civic Life, and Director of the Engaging News Project at the University of Texas at Austin – which also happens to be where, back in the day, I got my MBA.
Colorado has been a key swing state in recent presidential elections after flip-flopping back and forth between support for Democratic and Republican candidates. Obama won the state in the past two elections but George Bush prevailed for the two preceding contests while Bob Dole narrowly eked out a victory against Clinton in 1996.
That said, the margin of victory has often been very tight in Colorado which is what makes the recent discovery of voter fraud there so concerning. An investigation by CBS Denver recently found that dozens of deceased Colorado citizens continued voting multiple years after their death…even though Colorado Secretary of State Wayne Williams assured CBS that “it is impossible to vote from the grave legally.” While we’re disturbed by the voter fraud in Colorado, we’re so glad that the legality of the issue could be cleared up so easily.
According to CBS, one of the most glaring cases of voter fraud they found was of Sara Sosa who lived in Colorado Springs. Sosa died on Oct. 14, 2009 but CBS found that she continued to cast her ballot in 2010, 2011, 2012 and 2013. Likewise, her husband, Miguel, died on Sept. 26, 2008 but voted later in 2009.
Colorado’s Secretary of State confirmed the cases of voter fraud discovered by CBS, saying:
“We do believe there were several instances of potential vote fraud that occurred. It shows there is the potential for fraud. It’s not a perfect system. There are some gaps.”
September 2016 – SOUTH KOREA – This should calm tensions on the Korean peninsula. Asked in parliament on Wednesday whether South Korea had a plan in place to take out North Korean leader Kim Jong Un should the need arise, the country’s defense minister didn’t beat around the bush. “Yes, we do have such a plan,” Han Min-koo replied, per CNN, which called the response “candid” and surprising to some. “If it becomes clear the enemy is moving to attack the South with nuclear missile, in order to suppress its aims, the concept [of the special forces] is to destroy key figures and areas [that] include the North Korean leadership,” Han said, per Korea Times.
Do people around the world have a ‘right’ to move to the United States, as Hillary Clinton believes? It’s a bedrock belief of most conservatives that there is no such right. The U.S. sets its own immigration policy, admits whom it chooses, and foreign nationals in foreign countries have no legal or constitutional right to enter the United States.
Washington Examiner But Hillary Clinton appears to think there is such a right, at least if a tweet from her campaign headquarters can be taken for a policy pronouncement. On Monday, the Clinton Ohio campaign tweeted Mohamed G.’s picture with Trump’s quote, “No one has the right to immigrate to this country.” The campaign added the comment: “We disagree.”
China’s favorite offshore money laundering hub is officially no longer accepting its money.
According to data released by British Columbia’s Ministry of Finance on Thursday, foreign investors officially disappeared from Vancouver’s property market last month after the local government imposed a 15% surcharge to curb a record-shattering surge in home prices. Overseas buyers accounted for a paltry 0.7% of the C$6.5 billion of residential real estate purchases in August in Metro Vancouver; this represents a 96% plunge from the seven weeks prior, when foreigners were responsible for 16.5% of transactions by value.
According to the latest data overseas buyers snapped up C$2.3 billion of homes in the seven weeks before the tax was imposed, and less than C$50 million in the next four weeks. The government began collecting data on citizenship in home purchases on June 10. The ministry said auditors are checking citizenship or permanent residency declarations made by buyers and also reviewing transactions to determine if any were structured to avoid tax (spoiler alert: most of them were).
Across the province, the participation of foreigners dropped to 1.4% of transactions by value in August, from 13% in the preceding seven weeks.
"Anyone who claims to stand for free markets, free trade, and limited government but who attempts to defend the existence or importance of the Federal Reserve or central banking is a liar. Either you support free markets and freedom of pricing or you support central bank price-fixing and creeping socialism. There is no third way or middle road — socialism and the free market are mutually incompatible. A little bit of socialism in the form of price-fixing is like a little bit of gangrene, if left unchecked it will eventually infect and kill the whole." - Paul-Martin Foss via The Mises Institute