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Mon, 19 Aug 2019
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Stock Down

Plummeting stocks at Dow, S&P & NASDAQ, signs of 2008-style crash up ahead?

dow drops
© Reuters
Stock fell and demands for bonds rose as the markets interpreted Treasuries rates as a signal preceding a recession. Dow Jones has closed down 800 points, with other stock indexes plunging as well.

US stocks dropped between two and three percent across the board by early Wednesday afternoon. The Dow Jones Industrial Average (DJIA) was down 800 points, NASDAQ down over 240 points, and the S&P 500 dropping 85 points.

The slide was attributed to the "inverted gap" in rates for short- and long-term US Treasury bonds, which was taken as a warning that normally precedes a recession. Goldman Sachs Group led the rout of financial stocks, falling by four percent.

Comment: The system wasn't reformed after the crash a decade ago and so the corruption which benefited the establishment continued, but it seems that reality has finally begun to bite: Also check out SOTT radio's: NewsReal #26: Globalization vs Nationalism - The Hidden Causes of The Yellow Vest Protests in France


Pistol

BREAKING: Multiple officers shot in Philadelphia amid massive police response to automatic gunfire

philadelphia shooting
At least four Philadelphia police officers were shot in the city's Nicetown section Wednesday afternoon, officials said, prompting a massive response to the North Philadelphia neighborhood.

Frantic calls from responding officers came in around 4:30 p.m., according to audio obtained via Broadcastify.

"Officer calls for everything you got. SWAT, long gun," a law enforcement officer can be heard saying on the audio. "I got an officer shot."

SkyForce10 remains over the scene as an unidentified gunman continues to fire at dozens of police officers nearly 30 minutes after officers descended on the corner of 15th and Butler streets.

Attention

Americans have reached a record-breaking level of mortgage debt. Yes, it's worse than 2008

houses
© Getty Images
Low mortgage rates have helped push U.S. mortgage debt to the highest level ever. The last time Americans had nearly this much mortgage debt was back in 2008, but delinquencies are lower.

In the second quarter of 2019, Americans' mortgage balances totaled $9.4 trillion, $162 billion more than the previous quarter, according to data released Tuesday by the Federal Reserve Bank of New York. This surpassed the previous peak of $9.3 trillion in mortgage debt recorded back in the third quarter of 2008.

Overall, mortgage originations increased by $130 billion from the previous quarter to $474 billion as Americans sought to take advantage of low rates, particularly through refinancing. This marked the highest quarterly loan volume since the third quarter of 2017.

Mortgage balances represent the largest component of household debt — and the boost in mortgage originations helped drive total household debt in the U.S. to its highest level ever, $13.86 trillion.
Mortgage debt chart

Handcuffs

Ex-Blackwater contractor sentenced to life for Iraq shootings

nicolas slatten
© Jonathan Ernst/Reuters
Blackwater Worldwide security guard Nick Slatten (center) leaves the federal courthouse after being arraigned with 4 fellow Blackwater guards on manslaughter charges for allegedly killing 14 unarmed civilians and wounding 20 others in a 2007 shooting in Baghdad, in Washington, January 6, 2009.
A federal judge has sentenced a former Blackwater security contractor to life in prison for his role in the 2007 shooting of unarmed civilians in Iraq.

Judge Royce Lamberth issued the sentence Wednesday after friends and relatives requested leniency for Nicholas Slatten, who was found guilty of first-degree murder by a jury in December.

Prosecutors charged that Slatten was the first to fire shots in the September 2007 massacre of Iraqi civilians at a crowded traffic circle in Baghdad. In all, 10 men, two women and two boys, ages 9 and 11, were killed.

The defense had argued that Slatten and other Blackwater contractors opened fire only after they saw what they mistakenly thought was a potential suicide car bomber moving quickly toward their convoy.

Comment: See also:


Russian Flag

Crimea After 5 Years Of 'Evil' Russian 'Occupation'

crimea five year celebration join russia
© Sergei Malgavko/TASS
In the five years of being a part of Russia, Crimea has made a breakthrough. This is how Sergey Aksyonov, the head of the region, assessed the social and economic development of Crimea at the meeting with Vladimir Putin. In many areas of agriculture, the Russian autonomous republic has reached self-sufficiency, which never happened when it was a part of the Ukraine.

Thanks to the new power plants, the peninsula is provided with its own power and what's more, it has also started exporting energy, given the fact that, now, it produces almost double the energy than it really needs. Recently built Crimean Bridge and other major infrastructural projects resulted in a colossal inflow of tourists, including a lot of foreigners, despite the US and EU sanctions. However, there are also some problems. Russian President Vladimir Putin discussed them today in detail with the heads of Crimea and Sevastopol, Sergey Aksyonov and Mikhail Razvozhaev.


Comment: This is what happens when Russia annexes you!


Pistol

Shooting at ICE office being investigated by FBI as 'targeted attack'

San Antonio ICE office
The FBI is investigating a "targeted attack" in which shots were fired into an Immigration and Customs Enforcement (ICE) office and another facility associated with the agency in San Antonio, Texas early Tuesday.

The shooting occurred around 3 a.m. at an ICE building where two floors that housed administrative and executive offices were targeted, according to the San Antonio Express-News. The outlet reported another shooting occurred at a separate facility where an ICE contractor was located.

FBI Special Agent in Charge Chris Combs said those responsible knew what they were shooting at.

USA

Roughly 150 Americans show up to Koch Foods job fair in Mississippi after ICE raid removes hundreds of illegal immigrants

ice agents
© ICE-Public Domain
Roughly 150 locals attended an August 12 job fair to apply for jobs at the Koch Foods' plants in Mississippi.

The fair was run after the August 7 removal of 243 alleged illegal migrants in two of the company's chicken processing plants, according to local authorities.

The local Jackson Clarion-Ledger newspaper reported 25 to 30 people went to the job fair in Forest, Mississippi. The report said:
Kamerio Whitley, a resident of the nearby town of Morton, spoke to reporters after he left the building. He said there were several positions available at the plant, including forklift operators.

Whitley said he applied for a job working at the plant's rehang table, where workers hang frozen chickens.

The job starts at $12 an hour, which is decent pay for the area, Whitley said. "That's not bad to start, and it can always go up," he said.
The company is also trying to hire workers with online ads. Local officials made sure the hiring process complied with federal hiring regulations, according to WAPT 16.

X

How hundreds of campus #MeToo punishments could get dismissed

college campus
Accused men everywhere are suing over due process. "If you're found responsible for sexual misconduct at a university in America, your future is arguably over," said one attorney.

A Michigan State undergrad accused of sexual assault. A Cal grad student who says he was denied due process. The Maryland baseball players accused of rape.

And as of Friday, a Baylor professor who says he was falsely accused of raping a student.

They're all suing to clear their names — and, in some cases, get monetary damages — and turn back what had been a wave of Title IX complaints that swept U.S. college campuses during the peak of the #MeToo and "believe all women" movements.

On Friday, John Doe, a pseudonym for an assistant professor in Baylor's Department of Economics, filed a 35-page federal lawsuit in Waco, Texas, that alleges he engaged in a consensual relationship with a female student who, in July 2018, accused him of rape, sexual exploitation, intimate-partner violence, and more.

A campus Title IX investigation last October found in the student's favor, concluding that Doe was "responsible" for those three allegations, but cleared him of others.

Eye 2

Jeffrey Epstein accuser sues Ghislaine Maxwell, 3 others; says Epstein 'forcefully raped' her at 15

epstein and ghislaine
© Getty Images
Ghislaine Maxwell, pictured, here in 2005 with Jeffrey Epstein
A woman who says accused sex trafficker Jeffrey Epstein "forcefully raped" her when she was 15 years old filed a lawsuit Wednesday morning against Manhattan socialite and alleged Epstein "madam" Ghislaine Maxwell — along with three other unidentified individuals — claiming the group conspired to make her assault possible.

Jennifer Araoz, now 32, alleges Maxwell and three other associates of Epstein, who died in a New York federal lockup Saturday morning from an apparent suicide, conspired to facilitate the rape, according to the lawsuit obtained by Fox News.

The suit's defendants include Epstein's estate, Maxwell and Jane Does 1, 2 and 3, a trio later described as a "recruiter," a "secretary" and a "maid."

Bullseye

Epstein lived in a netherworld where normal rules didn't apply. How many more Epsteins are there?

epstein island
© REUTERS/Marco Bello; REUTERS / Handout / New York State Division of Criminal Justice Services
Forget how he died, the real mystery is how Jeffrey Epstein lived; committing acts that would get a normal person jailed, all while next to the world's most-watched men. How did he create a protective bubble around himself?

Take, for example, Epstein's financial career, the foundation for so much of his other criminal activity.

While doubts about his methods for obtaining wealth for his clients had been circulating on Wall Street for years, throughout that time he had been described, at face value, as a financier and a billionaire.

In the past several months we have discovered that he likely was no billionaire, and no one is sure whether he ever did conduct any legitimate business activities, or even where any of his money came from.

Yet, there was definitely big money involved, as is evidenced by superficially inexplicable multi-million dollar transactions percolating through a network of offshore accounts, and the very real luxury assets that he had accumulated.