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    INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

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    Carol
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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Sun Oct 01, 2017 10:10 am


    What Housing Bubble? Most Australians Couldn't Afford $100 Mortgage-Payment Hike
    http://www.zerohedge.com/news/2017-10-01/what-housing-bubble-most-australians-couldnt-afford-100-mortgage-payment-hike

    A new study shows 57% of Australia mortgage holders could not handle a $100 increase in their loan repayment.

    Stress has turned up in even the wealthiest cities.

    But who is truly wealthy? Paper profits on homes with enormous mortgages does not constitute wealth.

    Please consider $100 Tipping Point for 57% of Mortgage Holders.

    A staggering 57% of mortgage holders could not handle a $100 increase in their loan repayments, according to new research by Finder.com.au.


    This additional $100 is equivalent to an interest rate rise of just 0.45% based on the national average mortgage of $360,600. This means the average standard variable rate of 4.83% would only have to rise to 5.28% to put more than half of mortgage holders in stress.

    “The typical mortgage holder will begin to struggle once interest rates reach around 5.28% – that’s a pretty small window before borrowing costs start to hurt,” she said.

    With the research also showing that 39% of all mortgages are interest-only, this highlights why the Reserve Bank of Australia (RBA) and the Australian Prudential Regulation Authority (APRA) have shown some concern, she added.

    Comparing genders, 63% of women and 50% of men would struggle to repay their mortgages with an increase of less than $100 per month.

    Across the states, South Australian borrowers were the worst placed with 70% saying they could not handle an increase of less than $100 per month. This figure was lower in New South Wales, Tasmania and Western Australia at 59% and further dropped to 51% in Victoria.
    Stress in Wealthiest Areas

    Also consider Severe mortgage stress is cropping up in some of Australia’s richest suburbs.

    Severe mortgage stress is cropping up in some of Australia’s richest suburbs, revealing that wealthy Australians have been guzzling at the debt fountain. Thousands of households in suburbs like Mosman, Brighton and Nedlands are in mortgage stress, with some at risk of mortgage default in the next 12 months, according to new data from Digital Financial Analytics.

    Wealth is impossible to see if the person doesn’t want to flaunt it, and easy enough to fake. You can mortgage yourself to buy a grand home and the car to match, and have the trappings of wealth while actually being so far in debt you’re in financial hell.

    Looking rich and being rich are not the same thing at all, but when times are good, it’s difficult to tell the difference. As the saying goes, ‘When the tide goes out, you see who’s not wearing any swimmers’.
    Financial Hell Coming

    When top finally blows off the Australian housing bubble, the results will be devastating.





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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Sun Oct 01, 2017 10:28 am


    Welcome To The Hunger Games: Trump's Tax Plan To Unleash Battle Royal Among D.C. Lobbyists
    http://www.zerohedge.com/news/2017-09-30/welcome-hunger-games-trumps-tax-plan-unleash-battle-royal-among-dc-lobbyists

    Are you ready for mass chaos in Washington? "Only one-sixth of lobbyists were involved with health care (give or take — assuming it is one-sixth of economy). Six-sixths of lobbyists are involved in taxes."

    There are lobbyists for just about every cause that you can possibly imagine, and they are always working hard to influence members of Congress on their particular issues. But when you are talking about a major tax reform bill, that is something that virtually every single lobbyist in the entire city will want to be involved in. Our tax code is over two million words long, and the regulations are over seven million words long, and any changes to our immensely complex system could have absolutely enormous implications. There will be winners and there will be losers with any piece of legislation, and lobbyists will zealously fight to defend the turf belonging to their particular clients. Often lobbyists from different sides will literally be pitted directly against one another, and it won’t be pretty.

    In fact, one analyst that works for Cowen Washington Research Group says that we could soon be watching “the corporate hunger games”…

    Almost every industry, special interest, and consumer group has an interest in the tax code, especially if the package ends up being as ambitious as Trump and Republican leaders want it to be. Chris Krueger, an analyst at Cowen Washington Research Group, told Business Insider that the battle over which loopholes to keep and which to throw out could get nasty.

    “Welcome tribunes to the corporate hunger games!” Kruger said in an email.

    “Only one-sixth of lobbyists were involved with health care (give or take — assuming it is one-sixth of economy). Six-sixths of lobbyists are involved in taxes.”

    There is so much at stake, and if the Republicans are able to get something passed it probably won’t look much like the plan that Trump originally proposed. But it is so important to do something, because today Americans spend more on taxes than they will on food, clothing, and housing combined. That is morally wrong, and we desperately need tax relief.

    Trump’s tax plan would nearly double the standard deduction, and that would be a wonderful thing. It would provide instant tax relief to working class Americans, and that is something that I would greatly applaud.

    Trump’s tax plan would also great reduce the tax rate for corporations. Our big corporations certainly don’t need the help, but we do want to get our rate more in line with the rest of the planet. Because our corporate tax rate is one of the highest in the world, it actually encourages companies to set up shop some place else. Being more competitive with the rest of the world would likely mean more jobs for the American people.

    Trump’s tax plan would also reduce the number of tax brackets for individuals. Instead of seven, now there would just be three tax brackets of 12 percent, 25 percent and 35 percent. To me, those rates are way too high, but of course I would like to eliminate the individual income tax entirely.

    Many are criticizing Trump’s plan for proposing to raise at least a trillion dollars over the next decade by getting rid of the deduction for state and local income taxes. For those that live in very high tax states such as California, that deduction is a really big deal…

    High-income Californians, for instance, pay as much as 13.3 per cent of their income to the state in addition to their federal taxes. New Yorkers can pay up to 8.82 per cent.

    Just seven U.S. states have no personal income taxes, including Texas, Florida and Nevada.
    Hopefully the Republicans can pass some sort of tax reform in the short-term, because the status quo is definitely not acceptable.

    When the income tax was first introduced in 1913, the vast majority of taxpayers were being taxed at a rate of just one percent. The following comes from Politifact…

    The 1913 law imposed a tax of 1 percent on income up to $20,000, for both individual and joint filers. However, exemptions from the tax — the first $3,000 of income for individuals and the first $4,000 for joint filers — meant “virtually all middle-class Americans” were excused from paying, according to W. Elliot Brownlee’s book, Federal Taxation in America.

    The law also put in place a graduated surtax on incomes above $20,000; the highest rate paid, 7 percent, applied to Americans making more than $500,000 (about $11.4 million in 2011 dollars).

    Today, Americans are being taxed into oblivion. It has been reported that we spend more than 6 billion hours a year on our taxes, and I once wrote an article detailing 97 different ways that various levels of government extract revenue from all of us.

    Every year government just gets bigger and bigger on the federal, state and local levels. And the bigger government gets, the more oppressive it tends to become.

    Personally, I would love to start starving the beast that the left has created, and a great way to do that would be to completely eliminate the federal income tax.

    A lot of people could not even imagine a world without a federal income tax. But the truth is that our country once thrived under such a system. In fact, the greatest period of economic growth in U.S. history was between 1872 and 1913 when there was no income tax at all.

    And we could do it again.
    Today, the individual income tax only accounts for about 46 percent of all federal revenue, and if we reduced the federal government to a size that our founders would have wanted, we would be more than okay.

    But even if we can’t greatly reduce the size of the federal government in the short-term, we can at least go to a very basic flat tax or a fair tax, and both of those systems would be far superior to what we have today.

    If we can’t get a flat tax or a fair tax right now, we should at least try to dramatically reduce tax rates and simplify the tax code as much as humanly possible.

    But if we do get a short-term victory, the battle is definitely not over. In the long-term, we need to be very clear that our goal should be to abolish the income tax, the IRS and the Federal Reserve entirely. Anything short of that is not good enough.

    * * *






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    It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.

    With deepest respect ~ Aloha & Mahalo, Carol
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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Fri Oct 13, 2017 3:42 pm


    https://www.youtube.com/watch?time_continue=1&v=a3qbrBvfzLw
    Greg Hunter - Weekly News Wrap-Up 10.13.17
    Greg Hunter of USAWatchdog.com talks about the week's top stories in the Weekly News Wrap-Up.


    _________________
    What is life?
    It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.

    With deepest respect ~ Aloha & Mahalo, Carol
    avatar
    Carol
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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Fri Oct 13, 2017 3:45 pm

    Lagarde describes Global Currency Reset ala JC Collins..
    'We are about to see massive disruptions':
    IMF's Lagarde says it's time to get serious about digital currency

    https://www.cnbc.com/2017/10/13/bitcoin-get-serious-about-digital-currency-imf-christine-lagarde-says.html

    Lagarde didn't rule out that the IMF could at some point develop its own cryptocurrency. She pointed to the IMF's Special Drawing Right (SDR), a currency the IMF created to serve as an international reserve asset, that could incorporate technology similar to cryptocurrencies. "What we will be looking into is how this currency, the special drawing right, can actually use the technology to be more efficient and less costly," she said.


    _________________
    What is life?
    It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.

    With deepest respect ~ Aloha & Mahalo, Carol
    avatar
    Carol
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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Fri Oct 13, 2017 4:07 pm


    https://www.youtube.com/watch?v=6pty__5sKS8
    X22 Report! The Economic Downturn Is Accelerating And In Historic Step,
    Banking Giant Cuts Ties With You Won’t Believe! Cabal Panics (Videos)

    10-12-17

    Trump signed the unwinding of Obamacare executive order. The Russian ads on Facebook and Google were purchased by Americans. NK says nuclear program is for peace and security so the US does force regime change. NK recognizes Crimea. The War Powers act will be delayed to Nov 2. This will force the President to end the war in Yemen. Kaspersky says prove that they colluded with Russia.



    https://www.youtube.com/watch?v=dTnkkjjOcjM
    The Cabal Is Scrambling, They Are Losing Control - Episode 1399b

    China Makes “Compelling” Attempt to Smash the #Petrodolla
    Beijing is likely to “compel” Saudi Arabia to sell crude oil in yuan, and others will follow, according to the chief economist and managing director at High Frequency Economics Carl Weinberg. This will hit the US dollar, he says. Weinberg also noted that China has become a key player in the oil market since overtaking the US to become the world’s largest importer. Saudi Arabia has “to pay attention to this because even as much as one or two years from now, Chinese demand will dwarf US demand,” Weinberg told the media…

    Sources X22Report



    https://www.youtube.com/watch?time_continue=1&v=SvgS33v21Ho
    In Historic Step, Banking Giant Cuts Ties With Tar Sands

    Greenpeace's Keith Stewart discusses the huge step by BNP Paribas to move away from tar sands and divest from 'the dirtiest project on the planet'


    _________________
    What is life?
    It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.

    With deepest respect ~ Aloha & Mahalo, Carol

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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

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