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Consumer Debt Breaks Another Record

Total consumer debt broke another record in January, according to the latest report by the Federal Reserve.

Borrowing increased by $17.05 billion in the first month of 2019. The increase pushed overall consumer borrowing to a new $4.03 trillion record. That compares with $3.84 trillion in January 2018. That represents a 5.1% annual increase.

The consumer debt figures include credit card debt, student loans and auto loans, but do not factor in mortgage debt.

Revolving credit, which is primarily made up of credit card debt, rose $2.57 billion in January, pushing total American credit card balances to $1.06 trillion.

Nonrevolving credit, including borrowing for auto loans and student loans, was up by $14.47 billion in January. That comes on the heels of a $14.42 billion increase in December.


Alex Jones breaks down how globalist banking forces are conspiring to create the illusion that the policies of populists and nationalists come with financial ruin and collapse.

This piles on top of total US household debt (including mortgages) that climbed to a record $13.54 trillion in the fourth quarter of 2018. That figure was $869 billion higher than the previous peak of $12.68 trillion in the third quarter of 2008 (right before the crash) and 21.4% above the post-financial-crisis trough reached in the second quarter of 2013.

Mainstream financial analysts spun this as good news. As Bloomberg put it, the data suggests consumers are still willing to borrow, “with activity propelled by the strong labor market, higher wages and tax cuts.”

But this raises a question. If Americans are working, earning more and enjoying the benefits of tax cuts, why are they running up the credit cards? It seems just as likely they are charging it because they can’t make ends meet. And what happens to the US economy when the credit cards get maxed out? At some point, Americans have to pay back all of this debt.

Bloomberg also noted that “the Fed’s patience on raising interest rates may encourage lending.”

Of course, that’s the whole point of loose monetary policy and it helps explain the “Powell Pause.” The Fed simply can’t raise interest rates to anything resembling normal with Americans making payment on over $4 trillion in debt.

The Fed’s monthly consumer credit report does not include data on delinquencies, but the quarterly report revealed Americans are having an increasingly hard time making payments. For instance, the Q4 report said flows into serious delinquency for credit cards rose 5% in Q4, up from 4.8% in the third quarter. Meanwhile, performance in the auto loan sector is “slowly worsening.”

“Growing delinquencies among subprime borrowers are responsible for this deteriorating performance, and younger borrowers are struggling most acutely to afford their auto loans.”


Gerald Celente explains what’s ahead as the Federal Reserve is crashing the debt & real estate bubble it created worldwide.

Source: InfoWars

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Floods, destruction from cyclone continue in Mozambique

A week after Cyclone Idai hit coastal Mozambique and swept across the country to Zimbabwe, the storm's aftermath of flooding, destruction and death continues in southern Africa, making it one of the most destructive natural disasters in the region's recent history.

Floodwaters are rushing across the plains of central Mozambique, submerging homes, villages and entire towns. The flooding has created a muddy inland ocean 50 kilometers (31 miles) wide where there used to be farms and villages, giving credence to Mozambican President Filipe Nyusi's estimate that 1,000 may have been killed.

Mozambique reports that 200 have died and Zimbabwe reports a similar number but emergency workers say the death toll will continue to rise.

Rains stopped, at least temporarily, Thursday and floodwaters have begun to recede, according to aid groups.

Source: Fox News World

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Pompeo pledges support for Congo’s Tshisekedi ‘change agenda’ in first meeting

FILE PHOTO: Democratic Republic of Congo's Felix Tshisekedi swears into office during an inauguration ceremony as the new president of the Democratic Republic of Congo at the Palais de la Nation in Kinshasa
FILE PHOTO: Democratic Republic of Congo's Felix Tshisekedi swears into office during an inauguration ceremony as the new president of the Democratic Republic of Congo at the Palais de la Nation in Kinshasa, Democratic Republic of Congo January 24, 2019. REUTERS/ Olivia Acland/File Photo

April 4, 2019

WASHINGTON (Reuters) – U.S. Secretary of State Mike Pompeo expressed support for Congo President Felix Tshisekedi’s “change agenda” to tackle corruption, improve human rights and strengthen security during their first meeting on Wednesday, the State Department said.

It was Tshisekedi’s first visit to the United States since winning Dec. 30 elections, which while marred by widespread accusations of fraud, led to the first transfer of power via the ballot box in the Democratic Republic of Congo.

“They discussed the future of U.S.-DRC relations following the country’s historic transfer of power earlier this year,” the department said in a statement.

They also discussed ways to combat the Ebola outbreak in the country’s eastern region, which has killed more than 600 people, and ways to open the country to U.S. investment, the department added.

Washington has imposed sanctions against senior Congolese elections officials for fraud and corruption in the Dec. 30 vote.

While the sanctions have targeted Congo’s electoral commission chief and advisers, Washington has stopped short of calling into question the legitimacy of Tshisekedi’s victory.

(Reporting by Lesley Wroughton; Editing by Peter Cooney)

Source: OANN

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Vatican pushes back about work conditions at UN mission

The Vatican is pushing back against reports about work conditions at its U.N. mission under its former ambassador, in the latest scandal implicating the Holy See's diplomatic corps.

The New York-based mission said in a statement that the visa status of its staff was in full compliance with U.S. regulations from 2010-2014, and that its service staff was paid more than minimum wage.

The statement was responding to a March 11 report in the Crux online Catholic site about complaints from former staff about work conditions during the 2010-2014 tenure of Archbishop Francis Chullikatt. On Saturday, Catholic News Agency also reported allegations of inappropriate behavior by Chullikatt.

Both stories quoted the mission's then-legal adviser, Terrence McKeegan, as saying he flagged "serious moral and financial corruption" to the Vatican in 2013.

Source: Fox News World

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Sudanese police disperse rally urging president’s ouster

Sudan's state-run news agency says police used tear gas to disperse anti-government protests in the capital, Khartoum, and other cities across the country.

SUNA quoted police spokesman Hashem Ali as saying that security forces on Sunday arrested a "number of protesters" and filed charges against them under emergency laws declared by President Omar al-Bashir in February.

Ali says police received reports of injuries both among policemen and protesters. He didn't elaborate.

Sudan has been gripped by nationwide protests since mid-December. Opposition parties and professional unions have called on al-Bashir to step down after three decades in power.

Price hikes and food shortages triggered the current wave of unrest. Al-Bashir's government has met the protests with a heavy-handed crackdown and banned unauthorized public gatherings.

Source: Fox News World

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NGOs urge France to ban arm sales to Saudi Arabia

Twelve Yemeni and international human rights organizations have urged France to stop selling arms to Saudi Arabia and do more to end the war in Yemen.

The call was issued Thursday in Paris to mark the fourth anniversary of the intervention of a Saudi Arabia-led coalition in neighboring Yemen.

Organizations including Amnesty International, Action against Hunger and Doctors of the World urged France to use its key position as president this month of the U.N. security council and as head of the Group of Seven developed countries this year.

France is the third largest arms exporter to Saudi Arabia after the United States and Britain. French authorities argue the country has strict rules on arms exports.

Yemen's civil war, which erupted in 2014, pits Houthi rebels against the Saudi-backed government.

Source: Fox News World

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Google Under Fire After Calling ‘Unplanned’ ‘Propaganda’

Google came under fire Thursday after a journalist noted that it had classified the pro-life film, "Unplanned" as "drama/propaganda."

"Who knew that 'propaganda' was a movie genre?" The Daily Signal's Kelsey Bolar noted in a tweet Thursday, posted with a screen capture of Google's showtimes. Fox News reported it verified the Google classification, but by Friday morning, Google rated the film as being simply a "drama."

The movie is about former Planned Parenthood clinic director Abby Johnson, who becomes an anti-abortion activist after witnessing an abortion.

One Twitter user compared the search results with those for some of Michael Moore's documentaries and the Dick Cheney biopic "Vice," noting that none of them had been considered propaganda, reports Fox News.

However, Fox News also researched results for conservative movies, such as documentaries by filmmaker Dinesh D'Souza, but none were labeled as propaganda.

A Google spokesperson told Fox News that after analyzing web content about "Unplanned," there was a large volume that called the movie propaganda. But after being made aware of facts that have been disputed through the company's "Knowledge Graph," the company works to fix issues, the spokesperson said.

After the controversy was sparked, Google has updated its search results, removing the propaganda tag.

The movie's supporters have accused Twitter of treating the movie unfairly after it blocked the film's account. The social media platform has since reversed the ban.

Source: NewsMax America

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A California man who allegedly fatally shot his ex-girlfriend in broad daylight last month before fleeing the country has been returned to the U.S. following his arrest in Mexico on Wednesday, authorities said.

Julio Cesar Rocha, 25, of Montlcair, is accused of shooting his 25-year-old ex-girlfriend Thalia Flores and a second unidentified male victim March 21 around 2:45 p.m. while the two were sitting in a vehicle in the parking lot of a discount store in Chino. Both communities are about 36 miles east of Los Angeles.

ARREST MADE IN DOUBLE HOMICIDE OF EX-PRO HOCKEY PLAYER, COMMUNITY ADVOCATE, POLICE SAY

Julio Cesar Rocha, 25, of Montlcair, Calif. was located in Mexico Wednesday and returned to California where he faces murder and attempted murder charges related to the death of his ex-girlfriend, Thalia Flores.

Julio Cesar Rocha, 25, of Montlcair, Calif. was located in Mexico Wednesday and returned to California where he faces murder and attempted murder charges related to the death of his ex-girlfriend, Thalia Flores. (City of Chino Police Department)

Flores died at the scene. The man, whose name was not released, walked to a nearby hospital where he’s recovering from his gunshot wounds.

Rocha allegedly fled the scene and remained at large for more than a month, the Daily Bulletin reported. He was formally arrested at 4:30 p.m. after arriving at Los Angeles International Airport from Mexico, KTLA-TV reported.

The suspect was booked at the West Valley Detention Center in Rancho Cucamonga on murder and attempted murder charges, the City of Chino Police Department said on Facebook.

Flores ended her seven-year relationship with Rocha just two months before her death and still lived in fear of him until that point, a sister of the victim, Bernice Flores, told the Daily Bulletin.

“He said himself so many times to other people, ‘If I can’t have her, no one will.’ ” Flores said, adding that her sister stayed in the relationship longer that she would have liked in fear that Rocha would hurt her or her family if they broke up.

Rocha was convicted on misdemeanor battery in 2016 and sentenced to 60 days in prison. He was originally charged with misdemeanor assault with a deadly weapon, but the charges were lowered in a plea deal, the Daily Bulletin reported.

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Rocha was convicted of misdemeanor resisting or obstructing a peace officer in 2014. A second charge of misdemeanor battery was dropped in a plea deal, and Rocha was ordered to complete a 26-week anger management course, according to San Bernardino County Superior Court records. Rocha was later arrested and sentenced to 10 days behind bars for failing to complete the course.

Source: Fox News National

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Multiple people died Thursday when a semitrailer plowed into stationary traffic that resulted in explosions and flames on a Colorado freeway, authorities said.

The incident occurred just before 5 p.m. in the Denver suburb of Lakewood when a truck driver lost control while traveling east on Interstate 70, according to a preliminary investigation. The collision started a chain reaction and a diesel fuel spill, Lakewood police spokesman Ty Countryman told the Denver Post.

“This is looking to be one of the worst accidents we’ve had here in Lakewood,” he said.

The driver of the runaway truck survived. At least one truck was carrying lumber, another was hauling gravel and the third may have been carrying mattresses, KDVR-TV reported.

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Lakewood police tweeted there were multiple fatalities but did not give a specific number. Six people were taken to a hospital. Their conditions were not released, according to the paper.

Lanes in both directions were closed and expected to remain so into Friday morning.

Source: Fox News National

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President Trump will address members and leaders of the National Rifle Association on Friday at the group’s annual convention in Indiana.

Around 80,000 gun enthusiasts and more than 800 exhibitors are expected to pack the Indiana Convention Center in Indianapolis for the three-day event, the Indianapolis Star reported. It will mark the third straight year that Trump will deliver the keynote address, where he is expected to champion the rights of gun owners.

“Donald Trump is the most enthusiastic supporter of the Second Amendment to occupy the Oval Office in our lifetimes,” Chris Cox, executive director of the NRA’s Institute for Legislative Action (ILA), said in a statement. “President Trump’s Supreme Court appointments ensure that the Second Amendment will be respected for generations to come. Our members are excited to hear him speak and thank him for his support for our Right to Keep and Bear Arms.”

“Donald Trump is the most enthusiastic supporter of the Second Amendment to occupy the Oval Office in our lifetimes.”

— Chris Cox, executive director, NRA’s Institute for Legislative Action

COLORADO ENACTS ‘RED FLAG’ LAW TO SEIZE GUNS FROM THOSE DEEMED DANGEROUS, PROMPTING BACKLASH

President Donald Trump speaks at the National Rifle Association annual convention in Dallas last year. (Associated Press)

President Donald Trump speaks at the National Rifle Association annual convention in Dallas last year. (Associated Press)

Trump and Vice President Mike Pence spoke at last year’s convention in Dallas. During his speech, Trump assured gun owners that he would protect their Second Amendment rights, according to the paper.

“Your Second Amendment rights are under siege,” Trump told the cheering audience in Dallas. “But they will never, ever be under siege as long as I am your president.”

Trump has supported some gun control measures in the past. Last year, his administration imposed a ban on bump stocks, attachments that enable semiautomatic rifles to fire in rapid bursts. Although, he most recently threatened to veto two Democratic gun control bills.

This year’s convention comes as the NRA faces outside pressure and internal problems. The group has seen its legislative agenda stall amid a series of mass shootings — including a massacre at a Parkland, Fla., high school in February 2018 that left 17 dead and launched a youth movement against gun violence.

CLICK HERE TO GET THE FOX NEWS APP

It’s also grappling with infighting in its ranks, money problems and investigations into whether Russian agents courted officials and funneled money through the group.

“I’ve never seen the NRA this vulnerable,” said John Feinblatt, president of Everytown for Gun Safety, a nonprofit that advocates for gun control measure.

The convention will run through the weekend and conclude Sunday.

The Associated Press contributed to this report.

Source: Fox News Politics

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FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson

April 26, 2019

(Reuters) – Ailing British retailer Debenhams said two proposed company voluntary arrangements (CVA) could see all its stores remaining open during 2019, with 22 closures planned for next year, putting about 1,200 jobs at risk.

Debenhams’ lenders took control of the retailer earlier this month in a process designed to keep its shops open at the expense of shareholders.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier)

Source: OANN

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FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London
FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London, Britain, November 8, 2018. REUTERS/Toby Melville

April 26, 2019

BENGALURU (Reuters) – Chinese brands controlled a record 66 percent of Indian smartphone market in the first quarter, led by Xiaomi Corp, a report showed, with volumes rising 20 percent on the back of popularity for brands like Vivo, RealMe and Oppo.

Xiaomi’s India shipments fell by 2 percent over last year, but the Beijing-based company was still the biggest smartphone brand in the country, followed by Samsung Electronics Co Ltd, according to Hong-Kong based Counterpoint Research.

Shipment volumes for Vivo jumped 119 percent, while those of Oppo rose 28 percent.

“Vivo’s expanding portfolio in the mid-tier range ($100 to $180) drove its growth along with aggressive Indian Premier League cricket campaign,” Counterpoint analysts said.

India is the world’s fastest growing market for smartphones, where affordable pricing coupled with features like “selfie” cameras and big screens have popularized Chinese brands.

Video streaming services like Netflix Inc and Hotstar, as well as heavy usage of messaging apps like Facebook Inc’s WhatsApp have further spurred demand.

“Data consumption is on the rise and users are upgrading their phones faster as compared to other regions,” Counterpoint’s Tarun Pathak said.

“As a result of this, the premium specs are now diffusing faster into the mid-tier price brands. We estimate this trend to continue leading to a competitive mid-tier segment in coming quarters.”

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

Source: OANN

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