Our economic news has been SO POSITIVE that the Fed is raising interest rates again…but auto loans are defaulting in near-record numbers

Auto loans in default again

It looks like subprime auto loans — you know, the loans that have kept automakers on a growth binge for years now — are now defaulting at rates not seen since the worst of the financial crisis.

 

According to S&P Global Ratings, nearly 5 percent of subprime borrowers are behind more than 60 days on their loans. The rate in January 2010 was slightly above 4 percent.

Apparently after the subprime mortgage meltdown housing lenders were forced to make sure that the borrowers could actually repay their debt (what a concept!).  But that same mandate doesn’t apply to auto loans.

Oddly enough, this bit of bad news comes on the heels of supposedly great economic news…news that is so positive that the Federal Reserve is raising interest rates again. In the statement, the Fed said this was the last one for a while and was backing off because it wanted to make sure the workers getting back on their feet had plenty of room to get into this awesome economy.

The thing is, if interest rates are low — and they’re lower now even for subprime than they will be before long — and we already have record low unemployment (if we take the government at its word, of course), what do these default figures tell us?

The tell us that things aren’t as they appear. That this recovery is still in second gear at best and the numbers we’re seeing from the government are as worthless as they have been for many years.  (NORM ‘n’ AL Note: Our emphasis.)

And in the face of all this bullish news is the fact that Fannie Mae has maintained its U.S. growth forecast of 2 percent for 2017.

The producer price index was just released for February and it was up significantly, mostly because energy prices rose. But those prices have gone down now and are likely to fall rather than rise in the intermediate term.

So, that puts us in an environment where the poorest consumers are running out of money, the economy is likely to flounder at 2 percent GDP, energy prices are dropping, and interest rates are rising.

So, we’re going to have to figure out how to get through this without getting scalped by the big players and the propaganda from Washington and Wall Street.

Ronald Reagan said it best: Trust but verify.

What we’re seeing now is we’re still being sold on the feelings of a Trump presidency, not the economic consequences of actual policies. It usually takes a new president about 6-12 months to chart his own path and get rid of the lingering effects of the previous administration.  (Except the previous administration was so ridiculously inept and corrupt that we may never fully recover from it for another decade or two.)

The budget that was just released will be argued and negotiated through the summer. So will an Obamacare replacement. The federal government’s fiscal year runs from October to October.

That means all this hype and all these headlines are just that. They have nothing to do with making the sausage — we’re simply being promised that this sausage is the best sausage we’ve ever had. Given the 535 clowns/sausage makers on Capitol Hill who represent us, we can seriously doubt that.

Same sausage, new package.

 

[From an article by G. S. Early published on PERSONAL LIBERTY.com]

 

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As always, posted for your edification and enlightenment by

NORM ‘n’ AL, Minneapolis
normal@usa1usa.com
612.239.0970

 

 

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Israel’s enemies emboldened as never before, thanks to betrayal of Israel by Obama just before he left office

Obama’s deliberate betrayal of Israel at the UN just before he left office has emboldened Israel’s enemies with a new determination to harm the Jewish state and, if possible, the USA.

The UN, and the International Criminal Court, both seek any possible opening to embarrass, threaten, and harass the State of Israel, the only democracy in the entire Middle East.  If the ICC can manage to control Israel, it will be able to control ANY nation including the United States.

The US Congress is now considering a new bill called the Safeguard Israel Act, which will cut off US taxpayer funding for the UN ($620 million per year plus $2 billion for “peacekeeping”) until the UN repeals the outrageous anti-Israel resolution which Obama allowed to be approved.  Congress is also working to renew sanctions against Iran and undo the disastrous nuclear deal Obama made with Iran, a deal which endangers Israel directly and the US as well.

Here are some details which you need to know:

Obama deliberately betrayed Israel at the UN in his final days in office, allowing passage of the viciously anti-Israel UN Security Council Resolution 2334.  This move by Obama was an act of utter cowardice, abandoning our longstanding policy of supporting our important ally at the United Nations.  Joining this attempt to delegitimize Israel at the UN was something no other US president had ever considered doing.  This resolution at the UN calls Jewish settlements and Jerusalem itself “occupied territory” and attempts to cripple Israel’s sovereignty, weaken its borders, leave it susceptible to false criminal charges at the International Criminal Court, and strengthen the pernicious BDS movement (Boycott, Divestment, and Sanctions) which seeks to not just undermine but absolutely destroy the Jewish State.

Among other things, this resolution attempts to provide legal diplomatic cover for genocidal aggression incited by radical anti-Israel groups like Hamas and Fatah.

This betrayal at the UN emboldens the Palestinian Authority (P.A.) and other enemies of Israel to bring charges against Israel at the ICC.  If we allow the ICC to gain jurisdiction where it now has none, America’s own sovereignty will be at risk, as well as that of all other independent UN member nations.

Emboldened by Obama’s stupid and disastrous nuclear deal with Iran, that nation is now testing ballistic missiles — which in itself is a violation of the nuclear deal.  The Iran nuclear deal was born of US (and Obama’s) weakness; Secretary of State John Kerry begged Iran’s ayatollahs almost daily to come to the table with an agreement in just about any form.  During the negotiations, Kerry caved in to virtually all Iranian demands.  As the deal was finally agreed upon, US citizens who had been held hostage in Iranian prisons for years were made to wait in a plane sitting on the tarmac in Tehran until Obama finally flew in a planeload of hundreds of millions in cash for the ayatollahs.

 

NORM ‘n’ AL Note:  We watched Obama for eight years try to construct some sort of meaningful foreign policy, but all he could ever do was re-emphasize over and over to the rest of the world that he had no leadership ability and no backbone.  Obama made the US a laughing-stock among the countries of the world.  With Obama in the White House, our enemies no longer feared us and our allies no longer respected us.

 

[The post above was taken from a recent communication to us from the American Center for Law and Justice.]

 

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As always, posted for your edification and enlightenment by

NORM ‘n’ AL, Minneapolis
normal@usa1usa.com
612.239.0970

 

 

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Unrepentant radical named Obama abused the office of the presidency and is now leading a war to overthrow his successor

The Democrats and their media accomplices have declared all-out war on the Trump White House.

Under the guise of “resistance” – as though Donald Trump were the head of an occupying army rather than an elected president – they have set out to destroy his administration.

They are not “sore losers,” as many had surmised when their hysterical attacks on Trump began. They are an army of saboteurs bent on destroying the government the voters preferred and elected.

Their general, Barack Obama, is an unrepentant radical who abused the office of the presidency when he was in power, and as ex-president is now leading a war to overthrow his successor.

With the election over, the Democratic Party is now in the hands of the Bernie Sanders-Tom Perez-Keith Ellison-Barack Obama radical left. Abetted by a corrupt media, funded by the anti-American billionaire George Soros, egged on by Obama’s corrupt attorney general, Loretta Lynch, and a collusive press, the left has launched vile and violent demonstrations in the streets, rancid witch-hunts in the halls of Congress posing as “confirmation hearings,” and treasonous intelligence leaks, which have already claimed Trump’s National Security Adviser Gen. Michael Flynn as their victim.

Their next target, Attorney General Jeff Sessions, is already in their crosshairs, the object of character assassinations by Sens. Chuck Schumer, D-N.Y., Elizabeth Warren, D-Mass., and other Democrats, and by their disgraced and disgraceful media accomplices.

For none of this would have been possible without the active collusion of The Washington Post, The New York Times, and the media networks that have promoted the false narrative of an alleged collusion between the Trump campaign and the Russians to fix the election.

There is zero evidence of such collusion but plenty of evidence Obama and his cohorts have disregarded the Constitution and the law to spy on reporters they do not like, to use the IRS and other government agencies to take down their opponents and undermine the democratic system.

The left’s creed – identity politics – is an anti-American, racially charged determination to reject individual accountability and individual freedom, and to establish in their place group privileges, and racial/gender hierarchies.

These hierarchies are based on the malicious premise that whites, heterosexuals, and males are oppressors and – in the words of the Democratic platform – America is a society governed by “systemic racism,” which needs to be fundamentally transformed.

This collectivist, racial creed is the heart and soul of today’s Democratic Party and its allies in the mainstream media. It is the inspiration for the war Democrats have declared on the newly elected government of Donald Trump.

In his inaugural address, Trump addressed the war in uncompromising but thoroughly American terms.  “Through our loyalty to our country, we will rediscover our loyalty to each other. . . . When you open your heart to patriotism, there is no room for prejudice. . . . Whether we are black or brown or white, we all bleed the same red blood of patriots, we all enjoy the same glorious freedoms, and we all salute the same great American flag.”

This is the TRUE American creed, and it is the voice of the American people who elected Trump in November 2016.

 

[From an article by David Horowitz published by NEWSMAX]

 

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NORM ‘n’ AL, Minneapolis
normal@usa1usa.com
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America to show record year for oil production in 2018

US to show record year for oil production in 2018

The American oil industry looks to be on the cusp of an incredible revival.

Following a painful two-year price war with OPEC, U.S. oil output is poised to rebound this year, thanks to healthier prices and a strengthened business model.  U.S. oil companies didn’t merely survive OPEC’s attempt to drown them in low prices. The energy industry is emerging from this dark period of bankruptcies and job cuts much leaner and ready to thrive, even at prices that were once too low.

OPEC’s decision in November to abandon its strategy of flooding the world with excess supply allowed oil prices to stabilize above $50 a barrel. That bottom in prices has allowed the U.S. shale oil producers that have driven the boom in American oil production over the past decade to once again start pumping more oil. And many have even started to rehire some of the thousands of workers laid off during the downturn.

 That could set the stage for America to have a record-breaking 2018, taking out the all-time oil production high set in 1970, according to new forecasts published this week by the U.S. Energy Information Administration.
The U.S. oil comeback is being led by the Permian Basin, a hotbed of shale drilling in Texas and New Mexico. The Permian is so rich in shale oil that frackers can profitably drill even in today’s modest prices in the low $50-a-barrel range.

“Shale has proven to be remarkably resilient. The key is that any dollar invested today is double as efficient as it was two years ago,” said Tamar Essner, energy director of Nasdaq Advisory Services.

The optimism stands in stark contrast with the fears that rippled through the U.S. oil industry in late 2014. Back then, OPEC decided to keep pumping all-out despite the supply glut created in part by the U.S. oil boom that sent oil prices spiraling lower.

OPEC’s strategy appeared aimed at drowning American frackers by dropping prices far too low for them to survive on. Many worried about a steep decline in U.S. output.

OPEC’s price war did spark a wave of bankruptcies, painful job cuts and a dip in U.S. oil production as crude plummeted to as low as $26 a barrel. Domestic output peaked at an impressive 9.6 million barrels per day in April 2015.

But the oil boom didn’t collapse completely. U.S. oil output fell only a little, bottoming out at 8.7 million barrels in July 2016 and has since stabilized. Drilling has gathered steam in recent months as oil prices rebounded after OPEC abandoned its previous strategy by agreeing to cut production along with non-OPEC nations like Russia.

Now, the EIA has significantly ramped up its U.S. forecasts, predicting daily domestic output of 9.2 million barrels for this year and then 9.7 million barrels in 2018.

That’s up dramatically from a previous estimate in November for 2018 production to rise to 8.9 million barrels. So why the change?  All eyes are on the frenzy of shale activity in the Permian region. Frackers have scrambled to add rigs in the Permian. The rig count has nearly tripled from a low of 132 last April to 308 now.

“We believe shale production is set to reestablish itself for growth” that could be “fairly dramatic,” said Anthony Starkey, energy analysis manager at Bentek Energy, a division of Platts.

All of this oil flowing out of Texas and other shale regions could throw a wrench in OPEC’s plans to bring the oversupplied oil markets into balance and the cartel’s ability to negotiate more production cuts later this year.

The EIA also cited changes to its forecasting model that better account for how U.S. rigs have become vastly more efficient.  Those efficiency gains have been critical. Lower prices, better technology and improved balance sheets have allowed U.S. shale companies to do more with less.

“Thanks to these advancements, we can still grow, even in this lower-price environment,” said Essner.

She cautioned that while the “amazing” improvements in technology and operations are sustainable, U.S. production could be limited if servicing and labor costs rise too quickly.

There’s good news for American drivers — the EIA doesn’t think oil prices will rise much above the current level of $53 a barrel. The agency predicted an average price of just $53.49 a barrel this year and $56.18 next year.  “Nobody expects prices to revisit triple-digit territory,” said Essner.

The oil industry could also get a boost from President Trump, who has promised to take a friendlier stance towards fossil fuels than Obama.  While the EIA didn’t specifically mention Trump’s energy policy in its forecast, Trump has promised to unleash the American oil boom. The president has already taken some action by moving to cut EPA regulations and advance the stalled Keystone XL and Dakota Access Pipelines.

 

[From an article published by MONEY.CNN.COM]

 

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NORM ‘n’ AL, Minneapolis
normal@usa1usa.com
612.239.0970

 

 

 

 

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Follow-up to previous post about illegal Obama wiretapping of Trump campaign (Video)

 

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NORM ‘n’ AL, Minneapolis
normal@usa1usa.com
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Another “the end always justifies the means” caper by Obama during and following the recent election shows he should be charged with treason

Radio host Mark Levin used his Thursday evening show to outline the known steps taken by President Barack Obama’s administration in its last months to undermine Donald Trump’s presidential campaign and, later, his new administration.

Levin called Obama’s effort “police state” tactics, and suggested that Obama’s actions, rather than conspiracy theories about alleged Russian interference in the presidential election to help Trump, should be the target of congressional investigation.

Drawing on sources including the New York Times and the Washington Post, Levin described the case against Obama so far, based on what is already publicly known. The following is an expanded version of that case, including events that Levin did not mention specifically but are important to the overall timeline.

1. June 2016: FISA request. The Obama administration files a request with the Foreign Intelligence Surveillance Court (FISA) to monitor communications involving Donald Trump and several advisers. The request, uncharacteristically, is denied.

2. July: Russia joke. Wikileaks releases emails from the Democratic National Committee that show an effort to prevent Sen. Bernie Sanders (I-VT) from winning the presidential nomination. In a press conference, Donald Trump refers to Hillary Clinton’s own missing emails, joking: “Russia, if you’re listening, I hope you’re able to find the 30,000 e-mails that are missing.” That remark becomes the basis for accusations by Clinton and the media that Trump invited further hacking.

3. October: Podesta emails. In October, Wikileaks releases the emails of Clinton campaign chair John Podesta, rolling out batches every day until the election, creating new mini-scandals. The Clinton campaign blames Trump and the Russians.

4. October: FISA request. The Obama administration submits a new, narrow request to the FISA court, now focused on a computer server in Trump Tower suspected of links to Russian banks. No evidence is found — but the wiretaps continue, ostensibly for national security reasons, Andrew McCarthy at National Review later notes. The Obama administration is now monitoring an opposing presidential campaign using the high-tech surveillance powers of the federal intelligence services.

 5. January 2017: Buzzfeed/CNN dossier. Buzzfeed releases, and CNN reports, a supposed intelligence “dossier” compiled by a foreign former spy. It purports to show continuous contact between Russia and the Trump campaign, and says that the Russians have compromising information about Trump. None of the allegations can be verified and some are proven false. Several media outlets claim that they had been aware of the dossier for months and that it had been circulating in Washington.

6. January: Obama expands NSA sharing. As Michael Walsh later notes, and as the New York Times reports, the outgoing Obama administration “expanded the power of the National Security Agency to share globally intercepted personal communications with the government’s 16 other intelligence agencies before applying privacy protections.” The new powers, and reduced protections, could make it easier for intelligence on private citizens to be circulated improperly or leaked.

7. January: Times report. The New York Times reports, on the eve of Inauguration Day, that several agencies — the Federal Bureau of Investigation (FBI), the Central Intelligence Agency (CIA), the National Security Agency (NSA) and the Treasury Department are monitoring several associates of the Trump campaign suspected of Russian ties. Other news outlets also report the existence of “a multiagency working group to coordinate investigations across the government,” though it is unclear how they found out, since the investigations would have been secret and involved classified information.

8. February: Mike Flynn scandal. Reports emerge that the FBI intercepted a conversation in 2016 between future National Security Adviser Michael Flynn — then a private citizen — and Russian Ambassador Sergey Kislyak. The intercept supposedly was part of routine spying on the ambassador, not monitoring of the Trump campaign. The FBI transcripts reportedly show the two discussing Obama’s newly-imposed sanctions on Russia, though Flynn earlier denied discussing them. Sally Yates, whom Trump would later fire as acting Attorney General for insubordination, is involved in the investigation. In the end, Flynn resigns over having misled Vice President Mike Pence (perhaps inadvertently) about the content of the conversation.

9. February: Times claims extensive Russian contacts. The New York Times cites “four current and former American officials” in reporting that the Trump campaign had “repeated contacts with senior Russian intelligence officials. The Trump campaign denies the claims — and the Times admits that there is “no evidence” of coordination between the campaign and the Russians. The White House and some congressional Republicans begin to raise questions about illegal intelligence leaks.

10. March: the Washington Post targets Jeff Sessions. The Washington Post reports that Attorney General Jeff Sessions had contact twice with the Russian ambassador during the campaign — once at a Heritage Foundation event and once at a meeting in Sessions’s Senate office. The Post suggests that the two meetings contradict Sessions’s testimony at his confirmation hearings that he had no contacts with the Russians, though in context (not presented by the Post) it was clear he meant in his capacity as a campaign surrogate, and that he was responding to claims in the “dossier” of ongoing contacts. The New York Times, in covering the story, adds that the Obama White House “rushed to preserve” intelligence related to alleged Russian links with the Trump campaign. By “preserve” it really means “disseminate”: officials spread evidence throughout other government agencies “to leave a clear trail of intelligence for government investigators” and perhaps the media as well.

In summary: the Obama administration sought, and eventually obtained, authorization to eavesdrop on the Trump campaign; continued monitoring the Trump team even when no evidence of wrongdoing was found; then relaxed the NSA rules to allow evidence to be shared widely within the government, virtually ensuring that the information, including the conversations of private citizens, would be leaked to the media.

 

[This article originally published by BREITBART.COM]

 

NORM ‘n’ AL Note:  We have said it before (along with many others), that Obama has no honor, no integrity, and no sense of right and wrong.  He is morally bankrupt, in other words.  The end always justifies the means, not just for Obama but also for the Clintons and most of the Democrats.  Pretty disgusting when your elected government officials show you over and over again exactly what that looks like in broad daylight, with no attempt to make it look like anything else.

 

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NORM ‘n’ AL, Minneapolis
normal@usa1usa.com
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Obama’s Department of Injustice extortion scheme to corporations: Pay a huge fine as penalty for your actions, or “donate” smaller amount to XYZ radical leftist “non-profit” organization

Mr. OOOObamaWhen our government watchdogs sniff out a company which has produced a faulty product or otherwise swindled the innocent, you can bet a hefty financial penalty will follow.

Yet, as we’ve known for years, and others are now discovering, the Obama government was not as much an industry watchdog as it was possibly the world’s largest crime syndicate.

Ben Shapiro’s Daily Wire reports on a Fox News story that broke just Wednesday. “Advocates for big government and progressive power are using the Justice Department to extort money from corporations,” Tom Fitton of Judicial Watch told Fox. “It’s a shakedown. It’s corrupt, pure and simple.”

So what’s this all about? Yesterday, Rush Limbaugh explained the basic parameters of the slush fund scheme, and it would make the Mob proud.

Obama’s Department of (In)Justice, under both Loretta Lynch and her crooked predecessor Eric Holder, would file a federal complaint or suit against a corporation they deemed was doing something they weren’t supposed to be. And as they are the arbiters of everything Just, their judgment of wrong-doing was/is without question.

The thugs at Justice would then publically announce the several billion dollar fine they would impose on the evil-doers. It’s now out there in the press, which satisfies the public that our government has our backs. Case closed – right? Wrongo!

The case might appear to be closed, but not for Obama crime family. Justice would then quietly approach the offending corporation and make them an offer they would be wise not to refuse. Holder or Lynch would give the company a choice to either pay the multi-billion dollar fine (in some cases) in full to the feds and/or the aggrieved victims, or take what’s behind curtain number two. The second option was to pay a fraction of the fine amount, but “donate” it to one of the administration’s chosen radical leftist “non-profit” organizations.

A few of these are the National Council of La Raza, National Urban League and National Community Reinvestment Coalition. The others aside, you don’t get any more radical than La Raza.

Fox reports that, “So far, investigators have accounted for $3 billion paid to ‘non-victim entities.’”

We often wonder just where these organizations seem to find what appears to be unlimited funding to power their perpetual protest and antagonist machines. Well, wonder no more. Our own government is conscientiously forgoing fines to the general fund, or to wronged victims, to instead funnel millions to their partners in crime at these lefty activist groups.

It appears to be just another eminent domain scheme, but instead of the government seizing property for use by another, or to prevent something from occurring, like drilling, the federal government is seizing cash for several radical leftist activist groups. It’s really no different than what Jesse Jackson and Al Sharpton have been doing for decades – shaking down corporations for cash. And why would it be…Jesse and Al are just glorified community agitators, just like Obama. You do what you know how to do, right?

 

[From an article published by The Common Constitutionalist]

 

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As always, posted for your edification and enlightenment by

NORM ‘n’ AL, Minneapolis
normal@usa1usa.com
612.239.0970

 

 

 

 

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