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Huge Jobs Miss Fuels Inflation Shock

Written on . Posted in PT Global Economy.

Friday’s jobs miss adds fuel to the phenomenon we wrote about two months ago. Back in July (“A Structural Inflation Shock“) we quoted veteran commodity hedge fund manager Doug King assessment of the commodity markets, via Bloomberg’s interview with him then:

Commodities are back, and from pension funds to physical commodity traders, everyone is making money. The question now is whether it’s a temporary snapback from the pandemic or signals a longer-term shift in the structure of the global economy. King is in no doubt.

“We are facing a structural inflation shock,” King said. “There’s a lot of pent up demand, and everyone wants everything now, right now.”

For the first time since the pre-crisis years before 2008, the commodities boom means central banks are fretting about inflation.

After speculating about whether this may be the start of a new commodity supercycle, Bloomberg’s Javier Blas gave Doug King the last word: “This is the beginning of a proper boom cycle — this isn’t a transitory spike.” Read More

Biden flips: Life does not begin at conception

Written on . Posted in PT World Order.

WND: “I respect those who believe life begins in the moment of conception – I respect that,” he told reporters at a press conference. “Don’t agree but I respect that.”

In contrast, Biden said in a 2015 interview that he was “prepared to accept that at the moment of conception there’s human life and being, but I’m not prepared to say that to other God-fearing, non-God-fearing people that have a different view.

In 2008, he said he was “prepared as a matter of faith to accept that life begins at the moment of conception.”

James 1:5-8 “If any of you lacks wisdom, let him ask of God, who gives to all liberally and without reproach, and it will be given to him. 6 But let him ask in faith, with no doubting, for he who doubts is like a wave of the sea driven and tossed by the wind. 7 For let not that man suppose that he will receive anything from the Lord; 8 he is a double-minded man, unstable in all his ways.”

Read More

Portugal, Sweden slap COVID entry ban on Israelis, including those vaccinated

Written on . Posted in PT Middle East.

Times of Israel: Portugal and Sweden have decided to bar entry to Israeli nationals amid soaring coronavirus infections in the Jewish state, a move some other European nations are expected to follow.

Israelis scheduled to fly Thursday to Portugal were prevented from checking in at Ben Gurion Airport. The Swedish ban will take effect on Monday, a representative from the Swedish embassy in Tel Aviv told The Times of Israel.

“I will bless those who bless you,
And I will curse him who curses you;
And in you all the families of the earth shall be blessed.” Genesis 12:3

Their decisions came after the European Union on Monday removed Israel from a list of nations deemed “epidemiologically safe.”

Though vaccination rates in Israel are among the world’s highest, Portugal and Sweden have their eyes on the elevated case numbers and aren’t making exceptions for Israelis who are vaccinated or recovered from COVID-19. The two countries only accept European Union vaccination certificates.

Their decisions came after the European Union on Monday removed Israel from a list of nations deemed “epidemiologically safe.” Read More

Syrian air defences ‘shoot down’ Israeli missiles over Damascus

Written on . Posted in PT Middle East.

Aljazeera: Syrian air defences have shot down missiles fired by Israel in the skies over the capital, Damascus, SANA state news agency said early on Friday.

“At around 1:26 am today, the Israeli enemy carried out an air aggression from the direction southeast of Beirut, targeting some points in the vicinity of the city of Damascus,” a Syrian military source was quoted as saying in a statement carried by SANA.

“The burden against Damascus.

“Behold, Damascus will cease from being a city,
And it will be a ruinous heap. Isaiah 17:1

Syrian TV showed scenes of air defences shooting at targets over the city.

“Our air defence confronted the aggressor’s missiles and shot down most of them, and the losses were limited to materiel,” the statement said.

The sound of the roaring Israeli planes flying at a low altitude over the areas on the outskirts of Beirut was heard at dawn on Friday, witnesses said. Read More

Biden Claims He Visited Pittsburgh Synagogue That Was Attacked; Synagogue Says That’s False

Written on . Posted in PT World Order.

Daily Wire: Democrat President Joe Biden claimed on Thursday that he visited the Tree of Life synagogue in Pittsburgh, which was the site of a white supremacist terrorist attack that killed 11 people in 2018.

“I remember spending time at the, you know, uh, going to, uh, the, uh, you know, the Tree of Life synagogue, speaking with them,” Biden said during remarks with Jewish leaders, later seeming to note that he was specifically talking about the attacks in Pittsburgh, which is where the synagogue is located.

“The righteous hate what is false, but the wicked make themselves a stench and bring shame on themselves.” Proverbs 13:5

“Barb Feige, executive director of the Tree of Life, said that Biden did not visit the synagogue in the nearly three years since the anti-Semitic attack,” the New York Post reported. “In a phone interview, Feige, executive director since July 2019, said firmly that ‘no’ Biden didn’t visit, even before taking office when he had a lower public profile as a former vice president and then-Democratic presidential candidate.” Read More

Goodbye Taper? Huge Jobs Miss As US Adds Just 235K Jobs In August

Written on . Posted in PT Global Economy.

Zero Hedge: As we previewed earlier, while consensus for today’s closely-watched payroll print was 725,000, a drop from last month’s 943K, the whisper expectation was for a number decidedly lower, with BMO underscoring this point noting that the August NFP print has a seasonal tendency to underwhelm estimates in August, doing so 75% of the time and beating 25% of the time by 18k and 47k, respectively, on average.

And sure enough, moments ago the BLS reported that in August just a paltry 235K jobs were added, far below the 725K expected below even the most pessimistic forecast; the number was not only a huge drop to last month’s upward revised 1.053MM but was the weakest print since January.

While we expect that the pundits will quickly blame the resurgence of covid in August, manifesting itself in zero jobs added in leisure and hospitality, with Bloomberg already busy spinning by saying that “the deceleration in hiring likely reflects both growing fears about the rapidly spreading delta variant of Covid-19 and difficulties filling vacant positions” the reality is that the US economy is rapidly slowing even as inflation continues to soar, positioning the US squarely for a stagflationary crash and putting the Fed’s tapering plans squarely in doubt.

Relative to expectations, the August print was ugly and represented a 4-sigma miss.

Read More

BOJ’s “Turbo Kuroda” Calls For Even More QE And Even More Negative Rates

Written on . Posted in PT Global Economy.

Zero Hedge: Imagine you are a central bank which has done QE for 30 years, kept rates negative for almost a decade, purchased more than 100% of the country’s GDP in bonds, and is actively propping up the stock market by buying billions in ETFs and REITs, and still your economy remains stagnant? Well, if you are Kuroda you stay the course and hope for a miracle, but if you are Goushi Kataoka, the BOJ governor who is rapidly emerging as Turbo-Kuroda and perhaps angling to be the next head of the Japanese central bank, the answer is simple: you do even moar.

” … and do not harm the oil and the wine.” Rev. 6:6

Speaking in a briefing Kataoka, who joined the BOJ in 2017, said on Thursday that the coronavirus pandemic may weigh on the economy – which had never managed to stabilize ever since Kuroda unleashed monetary hell in 2012 – longer than initially expected, warning of heightened risks to the central bank’s forecast of a moderate, export-driven recovery. Kataoka also stressed the BOJ’s readiness to ramp up stimulus if needed, reinforcing market expectations Japan would lag other countries in exiting crisis-mode policies.

“Given recent domestic and global economic developments, the need for bolder steps is heightening,” Kataoka said. Read More

Texas’s heartbeat win gives America a ray of hope when we needed it most

Written on . Posted in PT World Order.

LifeSite News: Texas delivered a historic win for the preborn this week, and while the long-term ramifications may not be as certain as pro-lifers hope or pro-aborts fear, the number of lives that will be saved in the immediate aftermath make Wednesday, September 1 one of the greatest days the movement has seen in a long time.

“Oh, give thanks to the Lord, for He is good!
For His mercy endures forever.” Psalm 107:1

As LifeSiteNews has covered, the Texas Heartbeat Act took effect Wednesday, empowering private citizens to sue any abortionist who commits any abortion if a heartbeat can be detected (generally as early as six weeks), or who doesn’t bother to look for one before aborting. The novel law keeps state prosecutors out of the matter entirely, instead unleashing on the abortion industry the threat of being buried in more civil suits than they could handle.

Better yet, the Supreme Court voted 5-4 not to block the law from taking effect, meaning that – for now, at least – Texas abortionists are the ones on the defensive for a change. While one pack of monsters at Whole Woman’s Health in Fort Worth reportedly rushed to kill 67 babies in the 17 hours before Tuesday’s midnight deadline, overall the abortion industry appears to be playing it cautiously; Planned Parenthood and Whole Woman’s Health say they have stopped scheduling abortions beyond six weeks.

Read that again: abortionists stopped committing abortions. That doesn’t happen after most state pro-life laws. For now, the threat of crushing lawsuits is working. Read More

Reports of air strike in Syria, explosions heard in central Israel

Written on . Posted in PT Middle East.

Arutz Sheva: Syrian media reported overnight Thursday that the country’s air defense systems were activated following an Israeli air strike on several targets in Damascus.

Syrian television reported that the defense systems managed to shoot down most of the missiles and that only material damage was caused.

“For behold, Your enemies make a tumult;
And those who hate You have lifted up their head.” Psalm 83:2

Meanwhile, residents of Gush Dan reported hearing explosions, including in Tel Aviv, Ramat Gan and Givatayim. The IDF is investigating whether the explosions were the result of a Syrian anti-aircraft missile that breached Israel.

Texas Heartbeat law survives first challenge at SCOTUS by 5-4 vote

Written on . Posted in PT World Order.

LifeSite: While Wednesday’s decision stressed that it wasn’t a ruling on the merits of the law, many pro-lifers have taken the majority’s willingness to let the law stand even temporarily as an encouraging sign.

The U.S. Supreme Court formally denied the abortion lobby’s request to block the Texas Heartbeat Act Wednesday evening, voting 5-4 to let the historic law take effect while arguments on the constitutional merits of abortion restrictions work their way through the judicial system.

“I call heaven and earth to record this day against you, that I have set before you life and death, blessing and cursing: therefore choose life” Deut. 30:19

Signed in May by Republican Gov. Greg Abbott, the Act requires abortionists to screen for a preborn baby’s heartbeat and prohibits abortion if a heartbeat can be heard (generally as early as six weeks), with exceptions only for medical emergencies.

 

The law relies on a unique enforcement mechanism. Instead of having the state prosecute violators, it “exclusively” empowers private citizens to bring civil suits against abortionists, punishable by a minimum of $10,000 in statutory relief per abortion plus whatever additional injunctive relief is deemed “sufficient to prevent the defendant from violating this chapter or engaging in acts that aid or abet violations of this chapter.”

Texas Right to Life (TRTL) has set up a website where concerned Texans can anonymously report abortionists who commit abortions after finding a heartbeat or without testing for one. Read More