Wednesday, June 1, 2016
US economy on free fall
This is too much...pick the one you like it.
Here are the links
Construction Spending Collapses - Worst April Since 2009
US Manufacturing Weakest Since 2009: "No Comfort For Those Looking For A Rebound"http://www.zerohedge.com/news/2016-06-01/us-manufacturing-weakest-2009-no-comfort-those-looking-rebound
US Auto Sales Tumble In "Bellwether" Month Of Mayhttp://www.zerohedge.com/news/2016-06-01/gm-ford-us-auto-sales-tumble-bellwether-month-may
Forbes Slashes Theranos Founder Elizabeth Holmes' Net Worth From $4.5 Billion To Zero
Here are the links
Construction Spending Collapses - Worst April Since 2009
US Manufacturing Weakest Since 2009: "No Comfort For Those Looking For A Rebound"http://www.zerohedge.com/news/2016-06-01/us-manufacturing-weakest-2009-no-comfort-those-looking-rebound
US Auto Sales Tumble In "Bellwether" Month Of Mayhttp://www.zerohedge.com/news/2016-06-01/gm-ford-us-auto-sales-tumble-bellwether-month-may
Forbes Slashes Theranos Founder Elizabeth Holmes' Net Worth From $4.5 Billion To Zero
Credit to Zero Hedge
Goldman Fires Dozens Of Investment Bankers
Following an abysmal quarter for investment banks around the globe, which saw salary cuts across the board as a result of sliding revenues in virtually all product areas, we forecast that the next logical step will be ongoing major layoffs of some of the world's highest paid employees. This morning none other than the most insulated from global financial troubles bank confirmed just this when Bloomberg reported that Goldman had quietly cut investment banking jobs in the last few weeks, joining securities firms that are adjusting to a slowdown in deal activity.
According to Bloomberg, the bank eliminated dozens of managing directors, executive directors and vice presidents across the mergers and debt and equity capital markets teams. The cuts affected bankers in cities including London, New York and Hong Kong and are in addition to the bank’s annual 5 percent cull of employees deemed underperformers, the people said.
Earlier, the firm's president Gary Cohn said on Tuesday that the same forces that helped fuel mergers and acquisitions in 2015, such as low interest rates and sluggish growth, remain in place today and that the outlook for the business remains bright. However, the future is far less bright to dozens of bankers who have now packed up and are trying to find a similar, well-paying job.
As Bloomberg adds, CEO Lloyd Blankfein is embarking on his biggest cost-cutting push in years as the bank tries to weather a slump in trading and dealmaking. The job reductions follow a similar move in the firm’s trading division this year, driven in part by a 60 percent drop in first-quarter profit.
The investment-banking cuts represent a reversal from 2015 for a unit that was the top-ranked merger adviser during that near-record year and produced the most profit among Goldman Sachs’s four operating segments. Completed mergers worldwide have plunged more than 80 percent so far this year, while equity offerings have dropped about 65 percent.
What is more paradoxical, is that while in 2014 banks complained about the lack of volatility as the scapegoat for not generating enough revenues, in late 2015 and early 2016 it has been too much volatility that was the culprit. Unfortunately, since the Goldilocks market appears a thing of the past, we expect stories such as this one to be the norm in the coming months as the banking industry struggles to rationalize its income statement to a new normal that is no longer overtly generous to banking profitability.
Credit to Zero Hedge
Anti-Transgender Speech Will Get You Two Years In Canada
We live in an upside down world. We are leaving a kids a world that defies description. You will be rubbing your eyes before you are done reading this. Canada is on the verge of passing legislation that makes illegal to criticize transgenders. Here are the relevant parts of this very vague law.
Criminal Code
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2014, c. 31, s. 12
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3 Subsection 318(4) of the Criminal Code is replaced by the following:
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Definition of identifiable group
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(4) In this section, identifiable group means any section of the public distinguished by colour, race, religion, national or ethnic origin, age, sex, sexual orientation, gender identity or expression, or mental or physical disability.
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Trudeau is throwing everything he has into getting this passed and Canada’s ruling political party is committed to the passage of this bill. This bill will ban anti-transgender speech, including both gender identity and gender expression, with up to 2 years in prison for violators. The bill is an incremental extension of their existing “Hate Speech” laws.
There is more disturbing news, the Obama administration is communication with the progressives in Canada
Vague Standards
What constitutes an offense in Canada? It depends on who you ask. It is a clear attempt to muzzle free speech. For example, if you wanted to protest transgender bathrooms in Canada’s target, you could be thrown in prison for 2 years because you are “speaking out” against these practices.
The bill expands it to include any public speech or communication that “promotes hatred” on the basis of “gender identity” or “gender expression.” Two years? Yes, this bill is not symbolic, speech that someone deems offensive can send you to jail for up to two years.
The Government is the Judge As to What Constitutes Hate Speech
As in the US, the federal government judicial system will ultimately decide who will be charged. And as in the US, homosexual activist groups are “lobbying” the government along the same lines.
The far left Prime-minster, Trudeau, announced the bill in a speech on May 17, which happened to be “International Day Against Homophobia, Transphobia and any other perversion flavor the week.
The Christian World View Does Not Count
What about those who happen to hold biblical views on human sexuality? Are they going to persecuted and forced to serve 2 years because their world view does not permit acceptance? Are pastors and church-goers in danger? In other words, Christians are in danger because their core beliefs are different from government-approved gender-identity beliefs.
Very Low Burden of Proof
Up to 2 years in prison if it offends the “community.” Did you know that Canada on, March 29, announced it was shutting down its Religious Freedom Office. They are removing all opposition. The government will decide what is offensive.
In the United States, the New York City Commission on Human Rights released a legal enforcement guidance in December 2015, only 5 months ago. The legislation makes transgenders a special class.
Christianity and its core beliefs are in the process of being criminalized. Like the old Soviet Union, we will be forced to worship in secret and private. One of the most disturbing things is that I don’t see even a whimper out of the Christian community.
Mark my words, this march towards turning the values of our culture upside down will culminate with the legalization of child molestation.
Credit to Common Sense
Russia demands Turkey withdraw troops from Iraq
MOSCOW - Russia demands that Turkey withdraw its troops from Iraq, the RIA news agency quoted Russian Foreign Minister Sergei Lavrov as saying on Tuesday.
"This (keeping troops in Iraq) is an absolutely unacceptable position," it cited Lavrov as saying. "In principle, I believe that what the Turks are doing deserves far greater public attention on the part of our Western partners."
Credit to Jerusalem Post
Sweden's Migrant Rape Epidemic Explained
How did peaceful Sweden go from being a quiet, low-crime country to being the country with the second-highest incidence of rape in the world? Why has Sweden experienced a 1,472% increase in the annual number of rapes?
Here is Ingrid Carlqvist of is Gatestone Institute to explain...
Credit to Zero Hedge
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