Jim Sinclair’s Commentary
Mr. Williams shares the following with us:
- Expectations Should Turn Negative for Revised First-Quarter GDP, Based on Quarterly Trade Deterioration
- Real Construction Spending Contracted with Full First-Quarter Reporting
- Retail Sales Benchmark Revision Showed Deeper Contraction and Slower “Recovery” in Sales Activity than Previously Indicated
No. 716: March Trade Deficit, Construction Spending, Retail Sales Benchmark Revision ”
Chuck Norris Pledges To Protect Texas From Federal Invasion
Tyler Durden on 05/05/2015 15:45 -0400
Last week, former Texas lawmaker Todd Smith — a 16-year veteran of the Texas House of Representatives and self-proclaimed Last of the Fact-Based Republican Mohicans — took issue with Governor Greg Abbott’s decision to call in the Texas State Guard to monitor training exercises set to be conducted in the state between July and September by members of the Green Berets, Navy SEALS, and various other US army personnel. The drills — known as Jade Helm 15 — have become the subject of fierce debate among some Texans who contend that the US Special Operations Command may be using Jade Helm as an excuse to infiltrate the state in order to pave the way for an eventual takeover by the federal government.
While it’s not entirely clear what a “takeover” would constitute given that Texas is of course part of the United States already, locals recently got an opportunity to voice their concerns at an information session in Bastrop with Lt. Col. Mark Lastoria. Some attendees questioned whether the government intended to confiscate their firearms while others asked if the army would be bringing in ISIS fighters as part of the training program (as we learned on Sunday, there will apparently be no need to import ISIS fighters into Texas as they appear to have already made themselves at home in Garland).
Despite assurances that Washington currently has no plans to re-annex the state, the paranoia has only grown over the past two weeks fueled in part by a map that appears in the unclassified Jade Helm slide deck which designates Texas as a “hostile” territory. Of course the same map also identifies San Diego as harboring a militant insurgency, so the US Spec Ops Command probably assumed it would not be taken literally, but to some Texans the whole ordeal is anything but humorous and Todd Smith’s implicit suggestion that anyone who was suspicious of the federal government’s intentions in the state is a “hysterical idiot” didn’t help.
So, with the stage thus set, and with some concerned citizens convinced that a federal invasion of Texas is imminent, someone had to intervene to protect the territorial integrity of The Lone Star State and we imagine that when it comes to thwarting hostile incursions by thousands of well-trained soldiers, there’s no one better suited for the job than Chuck Norris and/or his famous alter ego, Walker Texas Ranger.
Jim Sinclair’s Commentary
To our Canadian friends – welcome to the police state.
Canada poised to pass anti-terror legislation despite widespread outrage
Criticism of anti-terror bill C-51 has united a diverse array of prominent opponents as many fear the legislation creates the potential for a police state
John Barber in Toronto
Tuesday 5 May 2015 06.30 EDT Last modified on Tuesday 5 May 2015 09.03 EDT
Widespread protest and souring public opinion has failed to prevent Canada’s ruling Conservative Party from pushing forward with sweeping anti-terror legislation which a battery of legal scholars, civil liberties groups, opposition politicians and pundits of every persuasion say will replace the country’s healthy democracy with a creeping police state.
Prime Minister Stephen Harper is looking forward to an easy victory on Tuesday when the House of Commons votes in its final debate on the bill, known as C-51. But lingering public anger over the legislation suggests that his success in dividing his parliamentary opposition may well work against him when Canadians go to the polls for a national election this fall.
No legislation in memory has united such a diverse array of prominent opponents as the proposed legislation, which the Globe and Mail newspaper denounced as a a plan to create a “secret police force”.
The campaign to stop Bill C-51 grew to include virtually every civil-rights group, law professor, retired judge, author, editorialist and public intellectual in Canada.
“The scale of information sharing being proposed is unprecedented, the scope of the new powers conferred by the act is excessive, particularly as these powers affect ordinary Canadians, and the safeguards protecting against unreasonable loss of privacy are seriously deficient,” declared Daniel Therrien, Privacy Commisioner of Canada, in a typical statement. “All Canadians would be caught in this web.”
“Stephen Harper is attacking our rights & freedoms,” author Margaret Atwood tweeted, urging her local Member of Parliament to “do the right thing and #VoteAgainstC51”.
Jim Sinclair’s Commentary
Maybe those people who star in the series “Life Below Zero,” are the smartest people on the planet.
Lawmakers in France Move to Vastly Expand Surveillance
By ALISSA J. RUBINMAY 5, 2015
PARIS — At a moment when American lawmakers are reconsidering the broad surveillance powers assumed by the government after Sept. 11, the lower house of the French Parliament took a long stride in the opposite direction Tuesday, overwhelmingly approving a bill that could give the authorities their most intrusive domestic spying abilities ever, with almost no judicial oversight.
The bill, in the works since last year, now goes to the Senate, where it seems likely to pass, having been given new impetus in reaction to the terrorist attacks in and around Paris in January. Those attacks, which included the offices of the satirical newspaper Charlie Hebdo and a kosher grocery, left 17 people dead.
As the authorities struggle to keep up with the hundreds of French citizens who travel to and from battlefields in Iraq and Syria to wage jihad, often lured over the Internet, the new steps would give the intelligence services the right to gather potentially unlimited electronic data.
The provisions, as currently outlined, would allow the intelligence services to tap cellphones, read emails and force Internet companies to comply with requests to allow the government to sift through virtually all of their subscribers’ communications. Among the types of surveillance that the intelligence services would be able to carry out is bulk collection and analysis of metadata similar to that done by the United States’ National Security Agency.
Worst Ever US Trade Deficit Excluding Crude Hints At Upcoming QE4
Submitted by Tyler Durden on 05/05/2015 08:51 -0400
Remember that in a beggar thy neighbor world, where currency warfare has once again broken out between the US, Europe and Japan, for every winner there is a loser. In this case, the loser is the one country that has decided that a strong currency is a great thing for its economy (if only for the time being): that would be the US.
Why is this relevant? Because as the chart below shows, US trade excluding Petroleum, just crashed to $43.7 billion, the worst print in the history of the series, suggesting that portrayals of the US as a resurgent export powerhouse are completely erroneous, and that instead the US is as big a net importer of goods and services (and soon to be oil) as ever.
Biggest ever trade deficit (ex Petroleum)
The crucial point here is that with Shale production now expected to decline (if only modestly: after all those junk bond investors are desperate to keep the MotherFracking dream alive), the US will soon have to import more oil which will require more debt issuance to fund the soaring trade deficit which will require more QE to monetize the deficit.
And thus the stage is set for QE4.
One thing is sure – if the trade deficit surge continues, and Q1 GDP tumbles below 0%, the Fed will be right back at the frontlines, CTRL-Ping the US economy right back into “beggar thy global neighbor” competitiveness. Because as we noted, with Q1 GDP now assured a negative print, and with Q2 GDP according to the Atlanta Fed at 0.8% and likely going lower if there are several “unexpected” spring showers, the US may enter a technical recession as soon as June 30.
Jim Sinclair’s Commentary
Here is the rabbit hole we are going down taken there by our financial leaders.
China Hails Ties With Russia Aimed at Maintaining World Balance of Power
© AFP 2015/ POOL / SERGEI ILNITSKY
The high-ranking Chinese diplomat said that Russian-Chinese relations had reached a new level of development and the forthcoming visit of Xi Jinping to Moscow would facilitate further cooperation between Beijing and Moscow. The Chinese president will pay a three-day visit to Moscow on May 8-10, attending the Victory Day Parade on May 9 at the invitation of Russian President Vladimir Putin.
“Cooperation and coordination between China and Russia are needed to maintain the international balance of power and preserve the post-war world order. The participation of the leaders of the two countries in mutual events dedicated to the 70th anniversary of the Victory in World War II indicates that Russia and China, as the largest countries in the world and members of the United Nations, intend to maintain international order.”
According to the Chinese Vice Foreign Minister, Xi Jinping plans to hold talks with Vladimir Putin and Russian Prime Minister Dmitry Medvedev, as well as with WWII veterans, Russian experts working in China and journalists. He will also lay a wreath at the Tomb of the Unknown Soldier in Moscow.
It is expected that during Xi Jinping’s visit to Moscow, Russia and China will sign a number of agreements in the energy, aviation, space and finance sectors. In addition, Moscow and Beijing will discuss possibilities of further cooperation, including the Silk Road project.
Cheng Guoping added that a “good working relationship” and “personal friendship” between President Xi Jinping and President Vladimir Putin are “an important political basis for bilateral relations.”