Introduced in House (07/17/2014)
Access to Affordable Mortgages Act of 2014 – Amends the Truth in Lending Act to exempt from property appraisal requirements certain higher-risk mortgage loans of $250,000 or less if such a loan appears on the balance sheet of the creditor of the loan for at least three years.
Exempts certain individuals required to make such reports from penalties for failure to report any appraisers reasonably suspected of [...]
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter
The word “gloomier” inconveniently showed up in a Reuters headline that described how the CEOs of the Business Roundtable – one of the thermometers into the brains of corporate America – felt about sales, employment, and capital expenditures. Yet, “gloomier” or not, these CEOs run companies that spend near record amounts, not on productive uses such as capital expenditures or hiring more people to push revenues to [...]
The U.S. financial position continues to deteriorate badly and in the last 12 months has increased by over $1 trillion dollars.
Nick Laird of Sharelynx has just reproduced his fascinating and timely chart showing the US debt limit, the actual US debt and the gold price all in one chart. From 2000 until around the first quarter of 2013, there was a very strong and close correlation between the growth [...]
By Michael Snyder
When there is a major problem somewhere in the world, Barack Obama loves to show that he is “doing something” by sending a contingent of U.S. troops to the affected area. But is it really wise for Obama to send thousands of young American men and women into the Ebola death zone? What are our troops going to do – shoot the virus? Of course not. The UN [...]
John Embry, Chief Investment Strategist at Sprott Asset Management, thinks gold price suppression is a key factor in global monetary policy. Embry contends, “If the gold price truly reflected what is really going on in monetary policy today, I think real interest rates would rise quite significantly. Given the amount of debt that is polluting the world banking system, to me, this is the end game, and that’s why it’s [...]
Citing security threat, Obama expands U.S. role fighting Ebola
ATLANTA/MONROVIA (Reuters) – President Barack Obama on Tuesday called West Africa’s deadly Ebola outbreak a looming threat to global security and announced a major expansion of the U.S. role in trying to halt its spread, including deployment of 3,000 troops to the region.
“The reality is that this epidemic is going to get worse before it gets better,” Obama said at the [...]
Germany recovery is now falling a part and investor sentiment has fallen for 9 consective months. Shanghai gold exchange going live earlier than expected. FED giving illegals more time keep Obamacare. NSA program has been renewed and is continually spying on the American people. China sending more medical personnel to West Africa, meanwhile US is sending 3000 military personnel. NATO rejects Crimea vote, says illegal. US deploying another 1600 military [...]
From Chris Kimble at Kimble Charting Solutions:
Chinese internet ETF breakdown on the eve of Alibaba IPO?
Chinese internet ETF CQQQ has doubled the performance of QQQ over the past two years.
Speaking of doubles, did CQQQ create a short-term double top of late?
A short-term support line is being taken out today by CQQQ, near the time that Alibaba is about to go public. The Nasdaq is near a 52 week high, while [...]
By Michael Snyder
The number of volcanoes that are erupting continues to rise, and scientists cannot seem to explain why this is happening. In 2013, we witnessed the most volcanic eruptions worldwide that we have ever seen in a single year, and this increased activity has carried over into 2014. In recent months, we have seen major volcanoes roar to life in Russia, Peru, Hawaii, Reunion Island,Indonesia, and all over Alaska. [...]
By Nick Beams
World Socialist Web Site
On this day in September 2008, the collapse of the US investment bank Lehman Brothers sparked the greatest financial crisis since the Great Depression of the 1930s. Within days of the bankruptcy, the entire American and global financial system was on the point of disintegration.
Reporting on the Lehman disaster on September 16, 2008, theWorld Socialist Web Site noted that it marked “a new stage in [...]
Sept. 16 (Bloomberg) — Independence movements could spread like “wildfire” across Europe should Scotland vote in favor of a U.K. exit, according to Andreas Utermann, global chief investment officer at Allianz Global Investors. He also discusses equity markets and his fixed-income strategy with Jonathan Ferro on Bloomberg Television’s “On the Move.” (Source: Bloomberg)
FOOD STAMPS EXPLODE IN ILLINOIS…CHANGE: 745,000 enroll in SNAP since 2008…
Among the many metrics that show Obama’s home state is struggling to break the Great Recession, a new report shows that applications for food stamps in Illinois is greater than its creation of jobs.
Illinois has had the worst recovery from the recession of any state in the country, the Illinois Policy Institute reported this month: “There are nearly 300,000 fewer Illinoisans [...]
BofA Warns “Risk Of Selloff” After September’s FOMC
While BofAML’s Michael Hanson expects Yellen’s overall tone to remain dovish, market perception will be key. The combination of changes to the forward guidance language, upward drift of the dots, and any comments seen as potentially hawkish, could lead to a selloff
West’s antics pushing Russia closer to China
The recent NATO summit in Wales, held against the background of the armed conflict in Ukraine, [...]
Retail sales are declining and many of the big retailers are in big trouble. The sub prime auto bubble is about to burst. Manufacturing is now declining. China announce a yuan clearing house with France and the UK will be issuing yuan denominated bonds in preparation for the yuan to be the world reserve currency. FBI facial recognition online. IMF in talks with West African nations to bail them out. [...]
BY JOHN WARD
I posted some weeks ago to the effect that the most common reason for slaughter on our planet is ‘Taking Sides’.
I did not mean by this that one should never take sides. When expansionist gangsters take over a country, sooner or later they will visit yours…and you have to take sides. This rule applies whether the mobsters are Nazis, the Soviet Union, Jihadists, Globalists, or Ostrogoths.
My point was [...]
Karo Moilanen, a visiting academic at the university, has dissected more than 1 million tweets in the past month. The “yes” campaign has generated more than 782,000 missives, compared with 341,000 for those backing the “no” movement. Both camps saw a dive in activity yesterday, though those backing the Scottish nationalists were still twice as active as the unionists:
There are two potential conclusions. Firstly, as I wrote on Sept. 15, the [...]
Did we create Al-queda?
Why were we funding them in the 80’s
Why did most of them originate in Saudi Arabia?
Why are we giving them weapons now in Syria?
Why do we still have the TSA and homeland security, if they are no longer our enemies, but our allies?
Should we send the 30,000 drones you ordered up to fly over the United States skies over to Syria, it seems that there are many [...]
9/11 Commissioners Want the Facts to Come Out
9/11 Commission chairman Thomas Keane has previously called for the declassification of the secret 28 pages of the Congressional 9/11 Inquiry, and said that 60-70% of what was classified shouldn’t have been classified in the first place.
The New Yorker reported last week:
Thomas Kean remembers finally having the opportunity to read those twenty-eight pages after he became chairman of the 9/11 Commission—“so secret [...]
#BREAKING World Bank warns of 'catastrophic' economic impact from Ebola
— Agence France-Presse (@AFP) September 17, 2014