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Do You Remember The Oil Crisis And “Stagflation” Of The 1970s? In Many Ways, 2019 Is Starting To Look A Lot Like 1973…

The price of gasoline is rapidly rising, economic activity is slowing down, the Middle East appears to be on the brink of war, and Democrats are trying to find a way to remove a Republican president from office.  In many ways, 2019 is starting to look a lot like 1973.  For many Americans, the 1970s represent a rather depressing chapter in U.S. history that they would just like to forget, but the truth is that if we do not learn from history it is much more likely that we will repeat our mistakes.  And without a doubt, right now a lot of things are starting to move in a very ominous direction.

“Stagflation” was a term that was made popular in the 1970s, and it occurs when there is a high rate of inflation but economic growth is declining or stagnant.

The U.S. hasn’t had a serious bout with stagflation in quite a while, but it appears that we may be moving in that direction.

Let’s talk about the slowdown in the economy first.  On Monday, we learned that sales of existing homes in the U.S. were way down in March

Home sales are struggling to rebound after slumping in the second half of last year, when a jump in mortgage rates to nearly 5% discouraged many would-be buyers. Spring buying is so far running behind last year’s healthy gains: Sales were 5.4% below where they were a year earlier.

On a year over year basis, existing home sales have now fallen for 13 months in a row.

That is terrible, and there is no way to “spin” that fact to make it look good.

We also learned on Monday that Office Depot is closing 50 stores.  Of course this is just the continuation of a trend that The Economic Collapse Blog has been tracking for quite some time.

Overall, U.S. retailers have already announced more store closings in 2019 than they did all of last year, and we are on pace for the worst year for store closings in all of U.S. history.

Ouch.


Alex Jones breaks down the true origins of ‘Earth Day’ and lays out how the Globalists are planning on fueling phony outrage about environmental conservation to usher in their technocratic control system over every nation of the world.

I could go on and on listing more numbers that indicate that the U.S. economy has been slowing down, but I don’t want to repeat much of what I have already shared over the past several weeks.

Meanwhile, inflation is starting to rise significantly in some pretty key areas.  Previously I have explained why food prices are beginning to move up aggressively, and now gas prices are starting to make national headlines once again.

For example, the price of gas in the state of California just hit the highest level in nearly five years

California’s gas prices continued to climb Wednesday, hitting the highest levels in almost five years.

Motorists throughout the Golden State are paying an average of $4.01 for a gallon of regular gasoline, by far the highest in the country and well above the national average of $2.83, according to a news release from AAA.

The primary factor driving up the price of oil is geopolitical wrangling in the Middle East.  According to CNBC, President Trump intends to stop Iran from exporting any oil at all…

Oil prices surged about 3% at midday on Monday, hitting fresh 2019 highs, after the Trump administration announced that all oil buyers will have to end imports from Iran in just over a week or be subject to U.S. sanctions.

The administration said the State Department will cease granting sanctions waivers to any country still importing Iranian crude or condensate, an ultra-light form of crude oil, after May 2.

If President Trump is successful, it will eliminate approximately a million barrels of oil per day from the global marketplace.

That is a big deal.

And this comes at a time when oil prices have already been steadily rising.

Unfortunately, Iran doesn’t plan to take this move lying down, and their response could potentially spark a full-blown oil crisis.

According to Bloomberg, Iran is actually threatening to close the Strait of Hormuz for all commerce…

Iran will close the Strait of Hormuz, a waterway vital for global oil shipments, if the country is prevented from using it, a senior military official said on Monday in what appears to be a response to the U.S. plan to end waivers on Iranian oil exports.

“If we are prevented from using it, we will close it,” the state-run Fars news agency reported, citing Alireza Tangsiri, head of the Revolutionary Guard Corps navy force. “In the event of any threats, we will not have the slightest hesitation to protect and defend Iran’s waterway.”

If Iran did such a thing, it would throw global oil markets into a state of tremendous turmoil, and it would bring us much, much closer to war with Iran.

In recent days the Iranians and the Trump administration have been trading very angry words, and it certainly doesn’t help that the Iranians just appointed a certified hothead as the leader of the Republican Guards

Salami has frequently vowed to destroy Israel and “break America.” Iran was “planning to break America, Israel, and their partners and allies. Our ground forces should cleanse the planet from the filth of their existence,” Salami said in February. The previous month, he vowed to wipe Israel off the “global political map,” and to unleash an “inferno” on the Jewish state.

He also said “Iran has warned the Zionist regime not to play with fire, because they will be destroyed before the US helps them.” Any new war, he said, “will result in Israel’s defeat within three days, in a way that they will not find enough graves to bury their dead.”

Hossein Salami is a complete and total nutjob, and I am entirely convinced that he actually wants a war with the United States and Israel.

For a long time I have been warning that we need to watch the Middle East, and a major regional war could potentially erupt at any time.

Let us hope that cooler heads prevail, because a full-blown war involving Iran, Israel and the United States would mean an immense amount of death and destruction.

For the moment, things are relatively calm in the United States, but most Americans don’t realize that we are actually in a very precarious position.

It isn’t going to take much for global events to reach a tipping point, and once they do there will be no going back.

Source: InfoWars

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Is Twitter The Fuse For Civil War?

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Ohio man in wheelchair dies after catching fire while smoking outside nursing home

An Ohio man died last week when his wheelchair caught fire while allegedly smoking and using his oxygen tank, according to reports.

Joseph Konopa was outside the Grande Oaks Nursing and Rehabilitation nursing home in the Cleveland suburb of Oakwood Village on April 17 when he caught fire, Fox News affiliate WJW-TV reported.

A motorist noticed Konopa's wheelchair up in flames and called the police.

“I arrived and noticed there was a wheelchair that was smoldering in front of the building with a male laying on the ground, face down,” Oakwood police Det. Ed Thyret told the news station.

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He said Konopa wasn’t breathing and didn’t have a pulse. He administered CPR until the fire department arrived. Konopa was taken to a nearby hospital where he later died from his injuries.

Embassy HealthCare, which manages the nursing home, said in a statement to WEWS-TV it's "unable to discuss specific resident information" due to privacy concerns and that it "is cooperating fully with state and local governing bodies on this investigation"

Source: Fox News National

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Cannabis maker Aurora picks billionaire investor Nelson Peltz as adviser

The Logo for Aurora Cannabis Inc., a Canadian licensed cannabis producer, is displayed on a screen on the floor of the NYSE in New York
FILE PHOTO: The Logo for Aurora Cannabis Inc., a Canadian licensed cannabis producer, is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 8, 2019. REUTERS/Brendan McDermid

March 13, 2019

(Reuters) – Canada’s Aurora Cannabis Inc named billionaire investor Nelson Peltz as a strategic adviser on Wednesday, sending the company’s U.S.-listed shares up 11 percent in trading before the bell.

The company has offered Peltz an option to buy about 20 million of its shares at C$10.34 a share, a small discount on the stock’s close of C$10.64 on Tuesday.

The stock option will vest ratably over a four-year period on a quarterly basis, Aurora said.

Aurora will tap into Peltz’s extensive experience in the consumer industry and work with him to explore potential partnerships that will expand the company globally.

“We look forward to working with Nelson to further extend our global cannabis industry leadership by aligning Aurora with each of the major market segments cannabis is set to impact,” said Aurora CEO Terry Booth in a statement.

The appointment comes weeks after rival Canopy Growth Corp appointed lifestyle guru Martha Stewart to help develop and launch a line of pot-based products.

Cannabis firms are also looking beyond recreational marijuana to drive sales, and the passing of the U.S. farm bill last year has opened the door for hemp, a cannabis plant with no or extremely low concentrations of “high” inducing THC.

Hemp can be used in foods, organic body care and clothing, among others.

Cannabis companies in Canada have been pouring cash into their businesses to fend off competition as well as develop new products, after the country approved the use of recreational marijuana in October.

“Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the international cannabis industry,” said Peltz in a statement.

Peltz, who heads investment management firm Trian Fund Management, has waged battles against several consumer conglomerates, including a push for the separation of Kraft into Mondelez International and Kraft Foods Group in 2012. He won a board seat in Procter & Gamble Co in 2017 after waging what was the largest proxy fight ever.

(Reporting by John Benny in Bengaluru; Editing by Shinjini Ganguli)

Source: OANN

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Report: Trump Advisers Talked About Military Building Migrant Camps

Some of President Donald Trump’s top national security advisers have discussed whether the military could be used to build tent city detention camps for migrants, NBC News is reporting.

The network news, attributing its information to three unnamed officials, said the discussion took place at the White House Tuesday night.

The discussion also dealt with whether the military could actually be used to run the camps once the migrants are housed there. But the NBC News sources say that was unlikely since the law prohibits the military from interacting with migrants.

Acting Defense Secretary Patrick Shanahan, who attended the meeting, was open to sending more troops to the border provided their duties were within the law, the officials told NBC News.

Right now, troops are currently at the southern border and are mainly used for reinforcing fencing with barbed wire, according to the network news.

During the meeting, other potential new projects were discussed, including assessing land for construction of new tent cities in El Paso and Donna, Texas. The military would also be used for assessments before the construction of a processing center in El Paso.

Meanwhile, a border patrol official told NBC News that the military allows for faster construction than private contractors, who can slow down the process. “The importance of (the Department of Defense) is that they are able to mobilize quickly because we face an immediate crisis now,” said the border patrol official.

Source: NewsMax Politics

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Czech lawmakers approve taxation of church restitution plan

Czech lawmakers have approved a proposal drafted by Communist lawmakers to tax the compensation that the country's churches receive from the state for property seized by the former Communist regime.

Tuesday's 114-57 vote in favor of the proposal in the lower house is a further sign of the rising influence of the Communists. The Communist Party is not part of the center-left ruling coalition led by Prime Minister Andrej Babis, but it has provided support in a confidence vote.

The lower house first approved the proposal in January but the Senate vetoed it a month later.

Churches in the country have had some property held by the state returned, and they are also to receive around $3 billion over 30 years. They oppose the tax and plan to sue.

Source: Fox News World

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Clapper: Mueller couldn’t find ‘active collusion’ but there was ‘passive collusion’

Former Director of National Intelligence James Clapper on Thursday said that there was “passive collusion” between the Trump campaign and Russia despite Special Counsel Robert Mueller’s findings that conclude there was no conspiracy.

Clapper began by defending the foundation of the Russia probe, telling CNN anchor Anderson Cooper that there was “good reason” for intelligence agencies and law enforcement “to be concerned about whether or not there was some kind of conspiracy between the Trump campaign and the Russians.”

GEORGE CONWAY CALLS TRUMP A CANCER THAT NEEDS TO BE REMOVED IN BLISTERING OP-ED

The top Obama official blasted President Trump for claiming that President Obama “did nothing” to prevent Russia’s interference during the 2016 election, saying his former boss “directly confronted Putin” and “asked him to stop the interference.”

He claimed that Russia’s social media campaign “turned the election in Trump’s favor” in targeted states like Wisconsin, Michigan, and Pennsylvania, adding that the Mueller Report “substantiates that.”

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“If there wasn’t active collusion proven, then I think what we have here is a case of passive collusion where in some cases, unwittingly, to include candidate Trump himself, who retweeted messages that had been planted by the Russians in social media,” the CNN national security analyst told Cooper. “That’s a small, but important, example of how members of the campaign were used and manipulated by the Russians.”

Source: Fox News Politics

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FILE PHOTO: Customers shop in a Sainsbury's store in Redhill
FILE PHOTO: Customers shop in a Sainsbury’s store in Redhill, Britain, March 27, 2018. REUTERS/Peter Nicholls/File Photo

April 26, 2019

By James Davey

LONDON (Reuters) – With Sainsbury’s dream of creating Britain’s biggest supermarket group in tatters, its chastened CEO Mike Coupe needs to reassure investors he has the plan to arrest a sales decline when he presents annual results next week.

Britain’s competition regulator blocked Sainsbury’s 7.3 billion pound ($9.4 billion) takeover of Walmart’s Asda on Thursday, saying the deal would increase prices. Sainsbury’s shares fell 5 percent and are down 22 percent over the last three months.

For Sainsbury’s fourth quarter to March 9 analysts are on average forecasting a 1.6 percent fall in like-for-like sales, which would follow 1.1 percent decline over the Christmas period.

Monthly industry data from researcher Kantar has also shown Sainsbury’s as the weakest performer of the big four grocers this year and this month it lost its status as Britain’s No. 2 supermarket group by market share to Asda.

While Sainsbury’s has struggled, market leader Tesco has gained momentum, this month reporting a 34 percent jump in full year profit.

Prohibition of the deal was a major blow to Coupe, its architect and Sainsbury’s boss since 2014.

Martin Scicluna became Sainsbury’s chairman last month and when bedded-in may decide that if the group needs a major shake-up it is best carried out by a new leader.

Much will depend on the attitude of 22 percent shareholder the Qatar Investment Authority, which has so far declined to comment, as well as Coupe’s own appetite to continue after 15 years at the group.

THE RIGHT STRATEGY?

Coupe said on Thursday he was confident Sainsbury’s was pursuing the right strategy.

That was a clear indication that Wednesday’s results statement will not include radical changes to the group’s plans, such as a big margin reset — sacrificing profit to drive sales.

However, sources connected to Sainsbury’s said Coupe would likely acknowledge that more needs to be done on prices, so the supermarket business can better compete with its big four rivals – Tesco, Asda and No. 4 Morrisons – as well as German-owned discounters Aldi and Lidl.

Coupe’s strategy is based on differentiating Sainsbury’s food offer, growing its general merchandise, clothing business and bank, while investing in convenience and online channels.

Some analysts believe major change is needed.

HSBC analyst David McCarthy reckons Sainsbury’s needs a margin reset, should allocate more space for core lines and needs to drive better store standards. He said Sainsbury’s might consider closing down space in some of its larger stores and reducing its non-food offer.

For the full 2018-19 year analysts are on average forecasting a pretax profit of 626 million pounds, up from 589 million pounds in 2017-18 – a second straight year of profit growth. A full year dividend of 10.5 pence per share is forecast versus 10.2 pence last time.

Bank and lawyer fees related to the proposed combination with Asda were 17 million pounds in the first half and have reportedly jumped to around 50 million pounds.

(Reporting by James Davey; Editing by Keith Weir)

Source: OANN

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FILE PHOTO: FILE PHOTO: A Canadian dollar coin commonly known as the
FILE PHOTO: A Canadian dollar coin, commonly known as the “Loonie”, is pictured in this illustration picture taken in Toronto, Ontario, Canada, January 23, 2015. REUTERS/Mark Blinch/File Photo/File Photo

April 26, 2019

OTTAWA (Reuters) – Canada posted a budget surplus in the first 11 months of the 2018/19 fiscal year compared to a deficit the year earlier as revenues increased mostly on higher tax incomes, the finance department said on Friday.

The surplus for April-February was C$3.1 billion, compared to a deficit of C$6 billion in the same 2017/18 period. Revenues climbed by 8.5 percent, mainly due to higher tax receipts, while program expenses rose by 4.8 percent.

The surplus for February was C$4.3 billion compared with C$2.8 billion in February 2018. Revenues jumped by 12.2 percent while program expenses posted a more modest 6.9 percent gain.

Last month, the Liberals unveiled their new budget, projecting a C$14.9 billion deficit in 2018/19, with the deficit rising to C$19.8 billion in fiscal 2019/20.

(Reporting by Julie Gordon in Ottawa; Editing by Chizu Nomiyama)

Source: OANN

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President Trump said Friday he would beat Joe Biden “easily” in the 2020 presidential election, suggesting the former vice president could not have enough “energy” to hold the post—taking an apparent swipe at his age.

The president, departing the White House, was asked about Biden’s entrance into the Democratic primary field. Biden announced his presidential bid early Thursday morning, marking his third attempt at the White House.

JOE BIDEN OFFICIALLY LAUNCHES 2020 PRESIDENTIAL BID

“I think we’d beat him easily,” Trump told reporters Friday.

Trump, 72, said he feels “young” and is ready for 2020, and another term for his administration.

“I feel like a young man. I am a young, vibrant man,” Trump said. “I look at Joe, I don’t know about him.”

The president’s comments seemingly were a shot at the age of Biden, who is 76.

BIDEN ENTERS WHITE HOUSE RACE WITHOUT OBAMA’S ENDORSEMENT

“I would never say anyone’s too old,” Trump said. “I know they’re all making me look very young both in terms of age and in terms of energy.”

Biden became the 20th candidate to join the crowded Democratic primary field Thursday. But Biden is not the oldest in the pack. Sen. Bernie Sanders, I-Vt., is 77 and Sen. Elizabeth Warren, D-Mass., is 69.

Should Trump be re-elected, he would be 74 on Jan. 20, 2021—Inauguration Day. Should the presidency go to one of the elder Democrats in the field—Biden would be 78; Sanders would be 79; and Warren would be 71.

Meanwhile, in a wide-ranging interview on “Hannity” Thursday night, Trump dismissed Biden’s candidacy, nicknaming him “Sleepy Joe,” and saying he’s “not the brightest bulb.” Trump also said that while the former vice president has name recognition, he won’t “be able to do the job.”

Source: Fox News Politics

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Venezuela's Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas
Venezuela’s Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas, Venezuela April 8, 2019. REUTERS/Manaure Quintero

April 26, 2019

WASHINGTON (Reuters) – The U.S. Treasury Department on Friday imposed sanctions on Venezuela’s foreign minister and a Venezuelan judge, according to a statement on the department’s website.

Foreign Minister Jorge Arreaza and a judge, Carol Padilla, were targeted over the ongoing crisis in Venezuela, the Treasury Department said, the latest in a list of officials blacklisted by U.S. authorities for their role in President Nicolas Maduro’s government.

(Reporting by Susan Heavey, Makini Brice and Lesley Wroughton; Editing by Chizu Nomiyama)

Source: OANN

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Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of
Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of “Avengers: Endgame” in Los Angeles, California, U.S., April 25, 2019. REUTERS/Mike Blake

April 26, 2019

LOS ANGELES (Reuters) – Marvel Studios superhero spectacle “Avengers: Endgame” hauled in a record $60 million at U.S. and Canadian box offices during its Thursday night debut, distributor Walt Disney Co said.

Global ticket sales for the film about Iron Man, Hulk and other popular characters reached $305 million for the first two days, Disney said.

(Reporting by Lisa Richwine; Editing by Chizu Nomiyama)

Source: OANN

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