Liberal dreams were crushed today

Trumps failing economy continues to unravel the lives of millions of Americans.

"Credit card debt hits record high of $4 Trillion and another signal of weaker demand, the closing of credit cards and other accounts, jumped to its highest level since 2010, while flows into serious delinquency for credit cards rose 5 percent, up from 4.8 percent in the third quarter."

Red flags emerge as Americans' debt load hits another record | Reuters

NEW YORK (Reuters) - Some red flags emerged for the U.S. economy late last year as credit card inquiries fell, student-loan delinquencies remained high and riskier borrowers drove home automobiles, according to a report that could signal a downturn is on the horizon.

The U.S. household debt and credit report, published Tuesday by the Federal Reserve Bank of New York, showed that the overall debt shouldered by Americans edged up to a record $13.5 trillion in the fourth quarter of 2018. It has risen consistently since 2013, when debt bottomed out after the last recession.

While mortgage debt, by far the largest slice, slipped for the first time in two years, other forms of borrowing rose including that of credit cards, which at $870 billion matched its pre-crisis peak in 2008.

Consumer spending accounts for two-thirds of growth in the world’s largest economy and it is expected to hold strong this year even as the overall expansion cools after a hot 2018.

However one sign of consumer demand, credit inquiries, slipped in the second half of 2018 to the lowest level recorded by the New York Fed.

Another signal of weaker demand, the closing of credit cards and other accounts, jumped to its highest level since 2010, while flows into serious delinquency for credit cards rose 5 percent, up from 4.8 percent in the third quarter.

Serious-delinquency flows, a warning bell for economists because they can prelude defaults, spiked in the third quarter for student debt and remained there in the fourth quarter, with 9.1 percent of the $1.5-trillion total debt seriously delinquent.

^^ Does this clown ever stop lying???

Yet another economic collapse indicator

"Twice as many farmers in Illinois, Indiana and Wisconsin declared bankruptcy last year compared to 2008"

Trump Trade War Helps Push Farmers Into Record Number Of Bankruptcies

Hard times for farmers got tougher with President Donald Trump’s trade war. Now Midwestern farmers are filing the highest number of bankruptcies in a decade, according to a Wall Street Journal analysis of federal data.

And farmers aren’t hopeful about this year.

Twice as many farmers in Illinois, Indiana and Wisconsin declared bankruptcy last year compared to 2008, according to statistics from the 7th Circuit Court of Appeals, the Journal reported. Bankruptcies in states from North Dakota to Arkansas leaped 96 percent, according to figures from the 8th Circuit Court of Appeals.

Farmers are being battered by sinking commodity prices — and stiff tariffs from China and Mexico in retaliation for Trump’s tariffs on imports.

The new 11-nation Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) treaty last year slashed tariffs — but not for U.S. farmers since the Trump administration pulled out of negotiations. That drove customers to farmers and ranchers in competitive countries, like Australia, serving another dunning blow to American operations.

Farmers fear it will take years to rebuild those trading relationships.

According to figures from the U.S. Agriculture Department, farm income last year was about 50 percent of what it was in 2013, the Wisconsin State Farmer reported.

The dairy industry was hopeful about meeting growing demand in China, but now trade is a major stumbling block. “The problem is that both nations have stubborn leaders,” Mark Stephenson, director of dairy policy analysis at the University of Wisconsin at Madison, said at an agricultural forum last week in Madison.

Soybeans were also a major victim. “Agriculture prices live and die by exports. In all commodities, we’re heavily dependent on China, especially for soybeans,” Kevin Bernhardt, agribusiness professor at the University of Wisconsin in Platteville, told the Milwaukee Independent.

Government subsidies to farmers were up 18 percent last year over the previous year, due to the $4.7 billion in tariff aid and $1.6 billion in disaster payments for farmers impacted by hurricanes, floods and other disasters. But it wasn’t enough to stave off the end for some.

He can bump all he wants.. MORE LIBERAL TEARS

Hey BladeLIAR





Why do you support such a horrible person??

Trump supporters will say this is a good thing.

180,000 jobs expected last month but only 20,000 created

Fastest deficit growth in history

Q4 2018 -$3.7 trillion largest drop in household wealth since 2009

2018 was the worst year for stocks since 2009

The DOW and S&P500 had their worse December since 1931.

Largest deficit in history

December's NASDAQ was the worst in it's history

Record number of farmers going bankrupt

Record 7,000,000 people 90 days or more behind on car payments

We have a RECORD trade deficit with China despite the tarrifs.

US households see biggest decline in net worth since the financial crisis

Americans' net worth fell at the highest level since the financial crisis in the fourth quarter of 2018 as sliding stock market prices ate into the household balance sheet.

Net worth dropped to $104.3 trillion as the year came to an end, a decrease of $3.73 trillion from the third quarter, according to figures released Thursday by the Federal Reserve. The fall amounted to a drop of 3.4 percent.

Much of the slide came due to Wall Street's woes, as the stock market suffered a precipitous decline that started in October and briefly reached bear market status. Equities skidded as investors began to fear that the Fed would keep raising interest rates even as economic conditions began to deteriorate.

By the time the market drop ended in late December, households saw $4.6 trillion worth of equity value deteriorate. The decline was offset somewhat by a $300 billion increase in real estate value. The overall move was the second-highest quarterly dollar drop since the Fed began tracking the statistic.

Overall, financial assets totaled just more than $85 trillion at the end of the year, while real estate value was $29.2 trillion.

Household net worth has been rising strongly since the crisis and is up 73 percent since 2009.

After suffering their worst Christmas Eve in history, stocks staged a turnaround and ultimately saw their best two-month start to a year since at least 1991. The Dow Jones Industrial Average is off about 1.6 percent in March though still up more than 9 percent year to date.

The fall in net worth came during a quarter when GDP rose 2.6 percent, according to a first estimate. That was part of a year that saw growth near 3 percent despite a lackluster period for financial markets. Economists largely expect 2019 to start with little growth in the economy, as the Atlanta Fed sees GDP up just 0.5 percent.

Economists are saying this is a big red flag for the failing economy getting worse.

We have over 1,000,000 more people 3 months behind now than we did back in 2010.

I think trump was right when he said the jobs report can be faked something here clearly isn't right what do you think?

A record 7 million Americans are 3 months behind on their car payments, a red flag for the economy

A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis.Economists warn that this is a red flag. Despite the strong economy and low unemployment rate, many Americans are struggling to pay their bills.

“The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market,” economists at the New York Fed wrote in a blog post.

A car loan is typically the first payment people make because a vehicle is critical to getting to work, and someone can live in a car if all else fails. When car loan delinquencies rise, it is usually a sign of significant duress among low-income and working-class Americans.

The New York Fed said that there were over a million more “troubled borrowers” at the end of 2018 than there were in 2010, when unemployment hit 10 percent and the auto loan delinquency rate peaked. Today, unemployment is 4 percent and job openings are at an all-time high, yet a significant number of people cannot pay their car loan.

So on one hand we have Trump giving fast food dinners to guest of the White House, while on the other hand buying $4.6 million of crab & lobster tails to eat, in September, not for the year.

"The federal government spent money on a wide array of contracts including a Wexford Leather club chair ($9,241), china tableware ($53,004), alcohol ($308,994), golf carts ($673,471), musical equipment including pianos, tubas, and trombones ($1.7 million), lobster tail and crab ($4.6 million), iPhones and iPads ($7.7 million), and workout and recreation equipment ($9.8 million).”"

Trump admin spent $4.6 million of taxpayers funds on crab & lobster tails last September

They're calling it The retail apocalypse and Trump is still doing nothing about it two years in.

4,500 total planned store closures this year. Tens of thousands of jobs lost and out of work. Trump's tarrifs cut into these retailers small profit margin and now they're closing stores to compensate. Sad

465 store closures in 48 hours; Gap, JCPenney, Victoria's Secret & Foot Locker

FOX NEWS - The 'retail apocalypse' is alive and well this week with major chains such as Gap, JCPenney, Victoria's Secret and Foot Locker all announcing massive closures, totalling the death of more than 465 stores over the last 48 hours.

All four companies reported its fourth quarter results this week during the critical holiday period, with three of them (Gap, JCPenney and Victoria's Secret) reporting declining in same-store sales, while Foot Locker reported growth that more than doubled expectations.

Still, despite the good news. Foot Locker announced Friday that it plans to close around 165 stores across the country, during its investor call.

That comes less than 24 hours after Gap announced it would close 230 of its namesake stores over the course of the next two years after the brand's same-store sales fell 7 percent during the holiday quarter. It also announced that it will separate its sister company Old Navy into its own publicly-traded company and create a new firm to house its remaining brands.

To top that off, earlier that day on Thursday, JCPenney announced it too will shutter 18 of its department stores this year, including the three it already announced in January.

Additionally, it said it plans to close nine of its home and furnitiure stores to coincide with its previous announcement to discontinue selling major applicances and furniture at all of its stores by the end of February.

However, Bob Phibbs, CEO of New York-based consultancy the Retail Doctor thinks JCPenney will be forced to announce more closures down the road.

“It is mind boggling that JC Penney still thinks they have time when the clock has run out and there’s no real plan. Closing 18 stores is barely a drop in the bucket of JC Penney’s more than 850 stores. If this was a big, bold effort to reinvigorate the brand, they would have announced they were closing hundreds of stores and investing in an outstanding experience at their other locations," Phibbs told FOX Business.

He added that JCPenney "still desperately" needs an inspiring vision for its brand as more and more customers head to Target, Walmart and Amazon.

Lastly, late Wednesday, L Brands' Victoria's Secret also reported its same-store sales fell during the holidays, dropping 3 percent and it will have to close 53 stores this year.

According to a Business Insider report, these announcements will bring the number of planned stores closures this year to well over 4,500.

Why do all these death threats Trump supporters look alike?

Another day and another Trump supporter in jail. When Will trump supporters learn they're not above the law? The good news is this is another Trump supporter that will not be able to vote in 2020

Trump supporter jailed for murder threats against Democrat senator

NORFOLK, Va. - A Virginia Beach man has been arrested after threatening Senator Mark Warner on Tuesday.

The man, Anthony Butkiewicz III, was said to have left several threatening voicemails at Senator Warner’s Richmond office that escalated violently.

Butkiewicz was charged last week with a single-count indictment with threatening to assault Warner, with intent to impede, intimidate, and interfere with Warner while he was engaged in the performance of his official duties.

Butkiewicz's first threat against Warner demanded that the senator hold a town hall meeting in Norfolk where, the defendant said, “I would personally like to stand face to face with you and I will punch you in the jaw! And you can lock me up and put me in jail, my friend! I ain’t got a problem with it."

After threatening the senator with assault and battery, Butkiewicz added, "[S]tick your head between your f*****g legs and kiss your a** goodbye because we’ve got a bullet right for your ear!”

According to court documents, the “we” in that statement included Lee Boyd Malvo, one of the DC snipers. The court documents also say apparently Butkiewicz intended to act in concert with a terrorist.

The defendant went on to say, “Walk outside your f*****g front door, my friend! Don’t forget, buddy! Just don’t f*****g forget [makes shooting sound]. I’ll f*****g pop you, climb down out of the tree, and get in my car and drive the f**k away. It is f*****g real easy buddy.”

A federal judge scheduled a detention hearing on Tuesday, but the defense objected and requested his release on certain conditions.

In court documents filed on Monday, the defense argued that there is no risk Butkiewicz would flee because he has no financial resources and has strong ties to the area.

This isn't the first time Butkiewicz has been in trouble with the law. For the past 15 years, court documents say he has been under a restraining order prohibiting him from making contact with his ex-girlfriend and mother of his child. Records say he threatened to travel to her home and kill her.

Closer to home, Butkiewicz must be detained pending trial. On Thursday, Butkiewicz made an initial appearance and the government moved for pretrial detention. Magistrate Judge Miller scheduled the hearing for Tuesday of this week and ordered the temporary detention for Butkiewicz until then.

Blocked alt-right hate fake nic troll drive by shit posts in 3.. 2.. 1...

^^^ You are totally obsessed with Baddog. ^^^

Daddy issues

Dude's totally losing it. He's gonna have a stroke when the Mueller probe implicates a bunch of Democrats and not Trump

mr blade does claim to have homosexual leaning

btw science says guys that hate god have daddy issues as well. who knows...

Your red Manchurian Candidate?

am i blind or does this papers NOWHERE say hillary ?

No.

I'm a fiscally conservative Progressive Capitalist. I don't support socialists of any kind in any way. If she believed in my Democratic views she would not need to add the "socialist" qualifier to the beginning of her political designation.

I like her personality and I like the way she interacts publicly pissing off every mouth breathing Republican with a pulse, but politically the whole Amazon Queens headquarters thing showed me her true colors politically and when someone shows you who they are like that, believe them.

You have to be able to understand things and follow links..