Friday, June 2, 2017
Since the election there has been this perception among the American public that the economy is improving, but that has not been the case at all. U.S. GDP growth for the first quarter was just revised up to 1.2 percent, but that is even lower than the average growth of just 1.33 percent that we saw over the previous ten years. But when you look even deeper into the numbers a much more alarming picture emerges. Commercial and industrial loan growth is declining, auto loan defaults are rising, bankruptcies are absolutely surging and we are on pace to break the all-time record for most store closings in a single year in the United States by more than 20 percent. All of these are points that I have covered before, but today I have 12 new facts to share with you. The following are 12 signs that the economic slowdown that the experts have been warning about is now here…
#1 According to Challenger, the number of job cuts in May was 71 percent higherthan it was in May 2016.
#2 We just witnessed the third worst drop in U.S. construction spending in the last six years.
#3 U.S. manufacturing PMI fell to an 8 month low in May.
#4 Financial stocks have lost all of their gains for the year, and some analysts are saying that this is “a terrible sign”.
#5 One new survey has found that 39 percent of all millionaires “plan to avoid investing in the coming month”. That is the highest that figure has been since December 2013.
#6 Jobless claims just shot up to a five week high of 248,000.
#7 General Motors just reported another sales decline in May, and it is being reported that the company may be preparing for “more job cuts at its American factories”.
#8 After an initial bump after Donald Trump’s surprise election victory, U.S. consumer confidence is starting to fall.
#9 Since Memorial Day, Radio Shack has officially shut down more than 1,000 stores.
#10 Payless has just increased the number of stores that it plans to close to about 800.
#11 According to the Los Angeles Times, it is being projected that 25 percent of all shopping malls in the United States may close within the next five years.
#12 Over the past 12 months, the number of homeless people living in Los Angeles County has risen by a staggering 23 percent.
And in case those numbers have not persuaded you that the U.S. economy is heading for rough times, I would encourage you to go check out my previous article entitled “11 Facts That Prove That The U.S. Economy In 2017 Is In Far Worse Shape Than It Was In 2016” for even more eye-popping statistics.
During a bubble, it can feel like the good times are just going to keep rolling forever.
But that never actually happens in reality.
The truth is that we are in the terminal phase of the greatest debt bubble of all time, and the evidence is starting to mount that this debt bubble has just about run its course. The following comes from Zero Hedge…
A recurring theme on this website has been to periodically highlight the tremendous build up in US corporate debt, most recently in April when we showed that “Corporate Debt To EBITDA Hits All Time High.” The relentless debt build up is something which even the IMF recently noted, when in April it released a special report on financial stability, according to which 20% of US corporations were at risk of default should rates rise. It is also the topic of the latest piece by SocGen’s strategist Andrew Lapthorne who uses even more colorful adjectives to describe what has happened since the financial crisis, noting that “the debt build-up during this cycle has been incredible, particularly when compared to the stagnant progression of EBITDA.”Lapthorne calculates that S&P1500 ex financial net debt has risen by almost $2 trillion in five years, a 150% increase, but this mild in comparison to the tripling of the debt pile in the Russell 2000 in six years. He also notes, as shown he previously, that as a result of this debt surge, interest payments cost the smallest 50% of stocks in the US fully 30% of their EBIT compared with just 10% of profits for the largest 10% and states that “clearly the sensitivity to higher interest rates is then going to be with this smallest 50%, while the dominance and financial strength of the largest 10% disguises this problem in the aggregate index measures.”
The same report noted that net debt growth in the U.S. is quickly headed toward negative territory, and the last time that happened was during the last recession.
We see similar things when we look at the 2nd largest economy on the entire planet. According to Jim Rickards, China “has multiple bubbles, and they’re all getting ready to burst”…
China is in the greatest financial bubble in history. Yet, calling China a bubble does not do justice to the situation. This story has been touched on periodically over the last year.China has multiple bubbles, and they’re all getting ready to burst. If you make the right moves now, you could be well positioned even as Chinese credit and currency crash and burn.The first and most obvious bubble is credit. The combined Chinese government and corporate debt-to-equity ratio is over 300-to-1 after hidden liabilities, such as provincial guarantees and shadow banking system liabilities, are taken into account.
We just got the worst Chinese manufacturing number in about a year, and it looks like economic conditions over there are really starting to slow down as well.
Just like 2008, the coming crisis is going to be truly global in scope.
It is funny how our perspective colors our reality. Just like in 2007, many are mocking those that are warning that a crisis is coming, but just like in 2009, after the crisis strikes many will be complaining that nobody warned them in advance about what was ahead.
And at this moment it may seem like we have all the time in the world to get prepared for the approaching storm, but once it is here people will be talking about how it seemed to hit us so quickly.
My hope is that many Americans will finally be fed up with our fundamentally flawed financial system once they realize that we are facing another horrendous economic crisis, and that in the aftermath they will finally be ready for the dramatic solutions that are necessary in order to permanently fix things.
Credit to Economic Collapse
And, the first hints of this shift will become apparent much sooner.
Within the next ten years alone, the researchers found AI will outperform humans in language translation, truck driving, and even writing high-school essays – and, they say machines could be writing bestselling books by 2049.
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In less than 50 years, artificial intelligence will be able to beat humans at all of their own tasks, according to a new study. And, the first hints of this shift will become apparent much sooner. A stock image is pictured
In a new study, researchers from Oxford University’s Future of Humanity Institute, Yale University, and AI Impacts surveyed 352 machine learning experts to forecast the progress of AI in the next few decades.
The experts were asked about the timing of specific capabilities and occupations, as well as their predictions on when AI will become superior over humans in all tasks – and what the social implications of this might be.
The researchers predicted that machines will be better than humans at translating languages by 2024, writing high-school essays by 2026, driving a truck by 2027, and working in retail by 2031.
By 2049, they’ll be able to write a bestseller, and by 2053, they’ll be working as surgeons, they said.
According to the researchers, there’s a 50 percent chance artificial intelligence will outperform humans in all tasks in just 45 years.
And, by the same likelihood, they say machines could take over all human jobs in 120 years.
Some said this could even happen sooner.
Credit to Dailymail.co.uk
Read more: http://www.dailymail.co.uk/sciencetech/article-4560824/AI-outperform-humans-tasks-just-45-years.html#ixzz4innGWCkV
Canada Declares To All Parents In New Law ‘If You Do Not Support The LGBT We Will Take Your Children Away’
Many people have been warning for years that the LGBT agenda was an attempt at a raw power grab to strip Christianity from society and force Christians to deny their faith and submit to a sinful agenda on pain of severe legal punishments.
According to a new law passed in Canada, parents who offer any opposition to or criticism of the LGBT agenda will be considered as potential “child abusers” and may have their children taken away by the state:
Ontario’s Kathleen Wynne Liberals have passed what critics describe as “totalitarian” Bill 89 by a vote of 63 to 23 on the last day before Queen’s Park adjourns for the summer.
Pro-family advocates warn Bill 89 gives the state more power to seize children from families that oppose the LGBTQI and gender ideology agenda, and allows government agencies to effectively ban couples who disagree with that agenda from fostering or adopting children.
Bill 89, or the Supporting Children, Youth and Families Act, 2017, repeals and replaces the former Child and Family Services Act that governs child protection services, and adoption and foster care services.
It adds “gender identity” and “gender expression” as factors to be considered “in the best interests of the child.”
At the same time, it deletes the religious faith in which the parents are raising the child as a factor to be considered, and mandates child protection services consider only the child’s own “creed” or “religion” when assessing the best interests of the child.
“With the passage of Bill 89, we’ve entered an era of totalitarian power by the state, such as never witnessed before in Canada’s history,” says Jack Fonseca, senior political strategist for Campaign Life Coalition.
“Make no mistake, Bill 89 is a grave threat to Christians and all people of faith who have children, or who hope to grow their family through adoption.”
“Disappointed as I am with this result, I am not surprised,” commented Tanya Granic Allen, president of Parents As First Educators (PAFE). “The Kathleen Wynne Liberals have for years been pursuing their anti-parent and anti-family agenda and Bill 89 is the latest installment.”
Conservative MPPs present at Queen’s Park for the vote opposed the bill, which was in stark contrast to their position at second reading in March, when 83 of Ontario’s 107 MPPs passed Bill 89 unanimously.
The Conservatives who voted June 1 against Bill 89 included Monte McNaughton, Jeff Yurek, Bob Bailey, Gila Martow, Todd Smith, Michael Harris, and Steve Clark.
PC leader Patrick Brown was not in the house for the vote.
Trillium Party MPP Jack MacLaren also voted against the bill.
A source present at a Tory caucus meeting two weeks ago told LifeSiteNews the Conservative members were swayed by “three or four” MPPs who said they could not in conscience vote for what the source described as a bill that is “fundamentally and morally wrong.”
The PC caucus, now at 28 members, thereupon decided to vote as a block against Bill 89, according to the source.
Fonseca lauded those PC MPPs who “came to their senses, stopped listening to that propagandist for Kathleen Wynne’s policies, and I do mean Patrick Brown, and chose to finally vote against tyranny.”
“And thank God they did, because it serves as a symbol of resistance,” he said.
“CLC had been directly lobbying MPPs to oppose the bill, and we believe that may have been a factor in why the PCs ended up voting en masse against it.”
Parents As First Educators and the Association for Reformed Political Action (ARPA) have also been at the forefront of relentless lobbying against the bill.
But despite these efforts, no Liberal broke ranks to vote on behalf of concerned parents, and a number of NPD MPPs voted for the bill as well.
Bill 89 retains the provision in current law that a child who is suffering or “at risk of suffering” mental or emotional harm and whose parents do not provide “treatment or access to treatment” is in need of protection under the law.
But while the former law said the Children’s Aid Society should take the “least disruptive course of action,” Bill 89 adds “including the provision of prevention services, early intervention services and community support services,” according to an ARPA analysis.
“The implication is that intervention should not be presumed to be more disruptive than non-intervention,” the ARPA report adds.
Statements by Minister of Child and Family Services Michael Coteau clearly signaled the pro-LGBTQ, gender ideology Liberal agenda, critics warned.
Coteau, who introduced the bill, told QP Briefing he sees questioning teenagers’ self-identification as LGBTQI or telling them to change as abuse.
“I would consider that a form of abuse, when a child identifies one way and a caregiver is saying no, you need to do this differently,” he said.
“If it’s abuse, and if it’s within the definition, a child can be removed from that environment and placed into protection where the abuse stops.”
Children’s Aid agencies now have “a type of police power to bust down your door, and seize your biological children if you are known to oppose LGBT ideology and the fraudulent theory of ‘gender identity’, if for instance, some claim is made that your child may be same-sex attracted or confused about their ‘gender,’” according to Fonseca.
“We already see similar tyranny happening in other jurisdictions, such as Norway, where the main child protection service there, Barnevernet, has been involved in numerous high profile seizures of children from traditionally-principled families,” he added.
Fonseca pointed out the Liberal bill gives legal cover for government workers to discriminate against Christians who want to adopt or foster children.
“Even before Bill 89 was passed, but immediately after its introduction in December, I learned of several Christian couples who were turned down for adoption on account of their deeply held religious beliefs about traditional marriage and human sexuality,” he told LifeSiteNews.(source)
Credit to Shoebat.com