The Dallas Cowboys, together with team owner Jerry Jones, take a collective knee at the start of the Monday Night Football game to display their unity with… well, something probably. Stick a fork in the financial future of the NFL, it’s done; finished.
The only thing that was saving the NFL from full organizational collapse was the advent of Fantasy Football Leagues and the subsequent betting and fan-based league play therein.
Never underestimate the inability of any business organization to inoculate itself with idiot resistant policies once they enter the arena of identity politics. It has always been thus:
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There is something profoundly hilarious in the face of team owner Jerry Jones looking so smug, as if he’s figured out how to navigate this insufferable financial minefield. He didn’t. Now watch the slow-motion financial implosion… that smugly look will change quickly as he watches his organizational bank account drain. Which is faster than the knee he promised to never take. By Thanksgiving; you’ll see. Bigly.
I’m sorry, but I just can’t stop laughing. Play stupid games, win stupid prizes.
Against the backdrop of a revised set of administration rules on visa issuance and restricted nationalities; and considering the previously argued ‘Trump travel ban’ guidelines expired Sunday; the Supreme Court has cancelled their hearing of arguments in opposition to the former travel restrictions and visa guidance.
(Via Associated Press) – 1:40 p.m. – The Supreme Court has canceled arguments set for Oct. 10 in the dispute over President Donald Trump’s travel ban, after Trump rolled out a new policy Sunday.
The unsigned order from the justices Monday asks both sides to weigh in by Oct. 5 about what to do with the case.
The court had been ready to hear argument about the legality of a 90-day ban on travelers from six mostly Muslim countries and a 120-day ban on refugees from around the world.
The ban expired Sunday and was replaced by a new policy that affects eight counties and has no expiration date. Those countries are Chad, Iran, Libya, North Korea, Somalia, Syria, Venezuela and Yemen. Chad, North Korea and Venezuela were not covered by the earlier ban. (link)
In addition both Chad and Venezuela are pushing back against Homeland Security guidance that led to their inclusion on the revised travel restrictions:
♦Chad’s government says it learned “with astonishment” of the decision by the U.S. government that its country is on a list whose nationals will be prohibited from entering the United States.
A government statement Monday said the government expresses its incomprehension about the “official reasons for this decision; which contrasts with Chad’s constant efforts and commitments in the fight against terrorism at regional and global levels.”
Chad’s government called for a better appreciation of the situation and for Trump to reconsider the decision which it says “undermines the image of Chad and the good relations between the two countries.” (LINK)
♦Venezuelan President Nicolas Maduro (nee-koh-LAHS’ mah-DOO’-roh) says the Trump administration’s decision to include Venezuelan officials on a travel ban is a form of “political and psychological terrorism.”
His foreign ministry issued a statement Monday saying that the travel restrictions violate the values of the United Nations charter and international law and are part of a continuing effort by the U.S. to oust Maduro from power.
The ministry said it is considering “all necessary measures” to defend Venezuela’s sovereignty and national interest. (LINK)
About The post, “Is There a Way Out of This Financial Mess? “
In the second last paragraph you write, “Taxes have risen as deficits expand because government thinks inflation is the danger.” Link:
Shouldn’t that be Deflation?
Thank you for doing what you do.
U
ANSWER: No. I agree it makes no sense but logic is not a talent of government. You have central banks trying to stimulate by increasing the supply of money, but then you have politicians worried about their deficits and being criticized so the they raise taxes. The two placed in the same room could never have a true dialog of any meaning.
The bankers are worried about deflation and the politicians, like Merkel, are worried about inflation. It is confusing, but hey, anyone who actually thinks electing people without trading experience is the way to run an economy should ask the parking attendant who parks a car if they are free to fix a cavity in your tooth.
QUESTION: Marty, I have followed your Global Market Watch and it is really amazing. I notice on IPE gas it came up and warned it was about to breakout to the upside. You said this is purely a pattern recognition system. Are there patterns that precede events and this is what your model is picking up on?
ANSWER: In many fields there are these sudden Phase Transitions which are extreme events. I have explained that sailors always told of rogue waves that rise up from calm waters and sink ships. The rogue wave appears out of nowhere in the eternal sea of global economics just as it does the oceans of the world. They are caused by the synchronization of many trends suddenly coming together to produce a giant wave.
There is an instability inside a gas turbine that suddenly appears, or a sudden extinction of a previous ecosystems – mass extinctions of which there have been five so far with another one due probably at the end of the next 309.6 year cycle in the 2300-2400 time period.
These extreme Phase Transitions or extreme events occur without warning to the untrained eye. It’s often impossible to predict when such bursts of instability will strike in markets where there are a huge amount of variables from news to players from a human perspective. The GMW identifies key patterns that precede an extreme event. The framework is being applied to all markets and economies and allows us to see things through complexity that the human eye will never see.
We need to open the door to the future but that is only possible by understanding the past. Paul Volcker back in 1979 in his Rediscovery of the Business Cycle “Not much more than a decade ago, in what now seems a more innocent age, the ‘New Economics’ had become orthodoxy. Its basic tenet, repeated in similar words in speech after speech, in article after article, was described by one of its leaders as ‘the conviction that business cycles were not inevitable, that government policy could and should keep the economy close to a path of steady real growth at a constant target rate of unemployment. … But it was not until the events of 1974 and 1975, when a recession sprung on an unsuspecting world with an intensity unmatched in the post-World War II period, that the lessons of the ‘New Economics’ were seriously challenged.”
It gives me no please to point out all out problems. My objective is straight forward. If we understand what is unfolding and why, then we can apply the correct solutions rather than turn toward more government authoritarian control. Make no mistake about this, we are in a battle for our freedom. This era of “New Economics” was set in motion by Karl Marx who advocated that government could control the economy and thus create Utopia. While Russia embraced the Communism of Marx, the West adopted his position trying to be just a little bit pregnant. We rejected everything that Adam Smith discovered and the Invisible Hand, rushing into Socialism for it empowered government rather than the private sector and Laissez–faire.
Our crisis therefore originates with government. Of course we need government which provides a stable rule of law and is benevolent rather than authoritarian. This is a battle to the death of Marxism which in all its various flavors empowers government which seeks to turn people against one another in order to retain power. Because government just keeps growing consuming an ever larger portion of GDP, it has sharply reduced economic growth which is now colliding with the new age of technology reducing employment. Constantly arguing class warfare and pretending that they can raise the minimum wage as if this will somehow benefit society, only furthers the dangers we face ahead. The rising taxation upon labor creates the incentive to replace workers with robots. Even the government is trying to replace soldiers with robots. This is a trend that is on all sides. Russia has its robot soldiers, and the USA has been following suit. Using drones carrying machine guns is a dangerous development for they can be turned against the people in civil unrest. Those who think that would never happen need only look at Barcelona where the Madrid government just sent in 16,500 soldier to invade Catalonia and stop any Independence Referendum.
Unfortunately, we are in a battle for our freedom and that of our posterity. Governments are broke. Everything is moving against them from every possible angle. They borrow with no intentional of paying anything off and are blind to the trend they have been caught up in. How can we make them see that this is not going to work nor will it end nicely?
We need to stop the borrowing, we need to drastically reduce the size of government and various departments should be PRIVATIZED because government is incapable of managing anything. At least then any pensions offered would actually be there for private companies cannot default and then refuse to prosecute themselves as does government. There is simply no checks and balance when prosecutions are a political decision and judges are political appointments. When paper money first began, it paid interest to entice the people to accept it. Then we adopted the idea put forth in this New Economics was that government could “stimulate” by borrowing and that would be less inflationary than printing. This became the Quantity of Money Theory, which has been proven to be complete wrong.
While Draghi has expanded the money supply for almost 10 years, deflation has prevailed. This entire idea of borrowing would be less inflationary is just insane. We have reached at time 70% of the entire national debt was composed of accumulative interest expenditures. So the money never went to build roads, schools, or help the poor as politicians pretend. So we are only fooling ourselves. Taxes have risen as deficits expand because government thinks inflation is the danger. They have been systemically reducing the standard of living and job creation.
Until we are ready to review this theory of “New Economics” and deal with it, our future is doomed. If we cannot start a dialog, there is no hope. The press is bought and paid for and is no longer truly free to protect our rights. There is hope, but only if we start to push the right issues.
Puerto Rico has been devastated by Hurricane Maria. CTH can confirm there is almost no communication with the majority of those impacted by the devastating impact of Hurricane Maria. Local officials are using satellite phones to gain residents the ability to contact their friends and family in the U.S. mainland. Critical infrastructure has been severely compromised. Cell phone service is sporadic to non-existent.
Adding to and amplifying the problem was a general dependency on government assistance, by a large portion of the population, for basic needs prior to the storm. The comfort of dependency has now worsened the desperation of the people on the island.
(Via Fox News) A humanitarian crisis grew Saturday in Puerto Rico as towns were left without fresh water, fuel, power or phone service following Hurricane Maria’s devastating passage across the island.
A group of anxious mayors arrived in the capital to meet with Gov. Ricardo Rossello to present a long list of items they urgently need. The north coastal town of Manati had run out of fuel and fresh water, Mayor Jose Sanchez Gonzalez said.
“Hysteria is starting to spread. The hospital is about to collapse. It’s at capacity,” he said, crying. “We need someone to help us immediately.”
The death toll from Maria in Puerto Rico was at least 10, including two police officers who drowned in floodwaters in the western town of Aguada. That number was expected to climb as officials from remote towns continued to check in with officials in San Juan.
Authorities in the town of Vega Alta on the north coast said they had been unable to reach an entire neighborhood called Fatima, and were particularly worried about residents of a nursing home.
“I need to get there today,” Mayor Oscar Santiago told The Associated Press. “Not tomorrow, today.”
Rossello said Maria would clearly cost more than the last major storm to wallop the island, Hurricane George in September 1998. “This is without a doubt the biggest catastrophe in modern history for Puerto Rico,” he said.
A dam upstream of the towns of Quebradillas and Isabela in northwest Puerto Rico was cracked but had not burst by Saturday afternoon as the water continued to pour out of rain-swollen Lake Guajataca. Federal officials said Friday that 70,000 people, the number who live in the surrounding area, would have to be evacuated. But Javier Jimenez, mayor of the nearby town of San Sebastian, said he believed the number was far smaller.
Secretary of Public Affairs Ramon Rosario said about 300 families were in harm’s way.
The governor said there is “significant damage” to the dam and authorities believe it could give way at any moment. “We don’t know how long it’s going to hold. The integrity of the structure has been compromised in a significant way,” Rossello said. (read more)
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The U.S. military is the tip of the spear in attempting to get aid and supplies to the residents in coordination with FEMA and emergency officials. CTH had numerous conversations today with teams trying to get as much into the island as possible.
The leadership of the 26th Marine Expeditionary Unit (MEU) and Expeditionary Strike Group 2, met with key leaders with Federal Emergency Management Agency (FEMA) and the Puerto Rico National Guard to plan and coordinate for Hurricane Maria response efforts in Puerto Rico. The Department of Defense (DoD) is supporting FEMA, the lead federal agency, in helping those affected by Hurricane Maria to minimize suffering and is one component of the overall whole-of-government response effort. (U.S. Marine Corps video by Cpl. Adam D. Edwards)
Round three of NAFTA begins this weekend in Canada. According to a leaked possible itinerary obtained by Reuters the auto-sector “rules of origin” will be discussed on Tuesday or Wednesday.
The auto sector rules of origin have been exploited by China to send auto manufacturing parts into Mexico, including massive electronic components, where they are assembled and shipped into the U.S. under NAFTA. This trade maneuver is an exploitation, a back-door per se’, of the NAFTA agreement by China which Secretary Ross and USTR Robert Lighthizer are committed to stopping.
Secretary Wilbur Ross explains in this recent CNBC interview. WATCH:
The German government is desperate for money and what they are doing now is just unbelievable. Germany is looking to order companies to prepay VAT tax before they even collect it.Companies in Germany will now have to pay the VAT immediately to the government on any amount they have billed to a customer. This is very drastic. Normally, someone who pays a bill in installments would pay the VAT on that amount that they pay. Under this new scheme, the company must pay the full VAT tax before they get the money. Even a sports contract would require paying the VAT on the entire contract which may be for 5 years up-front.
Perhaps this period will be looked back upon as the Draghi Deflation. After nearly 10 years of this failed policy, the European banking industry is contracting on every possible level. The merger of Commerzbank to Merge with French BNP is one possibility. Commerzbank is a takeover candidate or shotgun wedding candidate, for good reasons. Its shares have fallen and are trading now at half their book value. When interest rates rise to bring back deposits, then the bank could perhaps get out of its deep hole. The German government, which has a 15 percent stake after a bailout in 2009, is ready to sell looking to raise cash itself.
The Draghi era of negative interest rates has proven to be a complete disaster. People have withdrawn money and preferred to buy safes. Major banks with branches in the USA have shipped their cash to the American branch and deposited at the Fed in excessive reserves. Meanwhile, with deflation dominating the European economy and rising taxation, the average person is just not interested in borrowing until they see the economy turn around.
On top of these issues, to survive, European banks have been withdrawing from proprietary trading, firing expensive staff with experience, and replacing them with inexperienced kids. Additionally, the low-interest environment and the decline in deposits has resulted in a major contraction in bank branches. As banks also move to online banking, they have been able to reduce staff. In 2016, the banks let go some 50,000 jobs. They were also able to close some 9100 branches throughout the EU, according to the European Banking Association.Consequently, now the banking work force has been reduced to 2.8 million people contracting back to 1997 levels. We will most likely see a further reduction of at least 5% going into early 2018. We will see further mergers and consolidation reducing jobs and branches into 2020.
According to a the latest spin, the German federal government’s withdrawal from the Commerzbank has left the favored shotgun wedding merger. Commerzbank is the Frankfurt money house which will be merged with the French BNP Paribas. This is being presented as if it were a strong German-French merger which is suggesting that there is a deeper European banking union unfolding. Additionally, they are also going to merge a troubled Italian bank into BNP.
Behind the curtain, the concern is that Commerzbank could not be merged with Deutsche bank because they have the same portfolios that are in trouble. BNP Paribas is about 10 times the size of Commerzbank. Therefore, the real world view is this is just a shotgun wedding rather than a new German-French merger.
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This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
ANSWER: In many fields there are these sudden Phase Transitions which are 
Centinel2012 