D.K. Foreman – Personal Blog


Get your financial house in order: Canada officially enters recession

by on Sep.01, 2015, under 2015 Year, Endtimes, Financial, World News


Ottawa (AFP) – Reeling from low oil prices, Canada fell into a recession in the first half of the year, government data confirmed Tuesday, putting Conservative Prime Minister Stephen Harper on the defensive in the run-up to October elections.

According to Statistics Canada, the economy contracted 0.5 percent in the second quarter after retreating 0.8 percent in the previous three months.

It is Canada’s second recession in seven years and it is the only Group of Seven nation in economic retreat. The figures are the weakest since the 2008 global financial crisis.

The data reflects fears about the health of the global economy as more gloomy evidence emerged of a slowdown in China, a main engine of growth worldwide.

Harper, whose Tories are trailing their rivals in opinion polls ahead of the October 19 election, blamed the overseas turmoil for Canada’s woes, and emphasized an expansion in the economy in June.

“We are living, once again, in a time of ongoing global economic instability,” Harper said.

“Obviously there has been challenges, particularly in the energy and some commodity sectors because of falling prices. But the fact of the matter is over 80 percent of the Canadian economy has been growing.”

Canada, the world’s fifth-largest oil producer, has been hit particularly hard by the halving of world oil prices from above $100 last year.

In the second quarter, its mining, quarrying and oil and gas extraction sector posted a “notable decrease” for a second consecutive quarter, said the government statistical agency.

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Canada, the world's fifth-largest oil producer, …
Canada, the world’s fifth-largest oil producer, has been hit hard by the plunge in world oil pri …

Analysts said the damage however could be limited.

“Despite the weak start to the year, there is good reason to believe that the worst is over,” said TD economist Brian DePratto.

DePratto cited the sharp increase in GDP in June, “providing positive momentum to start the second half of the year.” He predicted a “sharp rebound” in the third quarter with growth reaching 2.5 percent by year’s end.

– Harper under fire –

On the campaign trail, where the economy has dominated the debate, opposition parties pounced on the grim data, urging voters to send the Tories packing.

“Under Stephen Harper, this has been Canada’s lost decade,” leftist New Democratic Party candidate Andrew Thomson told a press conference in Ottawa.

“Ten years of job losses, continued crumbling of infrastructure, tax breaks for the wealthy and a situation where the middle class continues to struggle to get ahead, 150 billion dollars in new debt and two recessions — people are telling us they have had enough.”

Thomson — whose critiques were echoed by the Liberals — said the Conservatives’ stewardship of the economy has been a failure.

“We need to bring change to Ottawa,” he said.

Harper has insisted that, oil aside, the rest of the economy is doing well, although the figures point to broad declines in a third of sectors.

At a steel plant in Hamilton, Ontario, he urged voters to support his party’s leadership, saying he had “the proven experience to keep us safe and keep our economy moving forward.”

– Business investment down –

In the second quarter, business outlays for machinery and equipment, communications and audio and video equipment, furniture, fixtures and prefabricated structures, and intellectual property products fell.

New housing construction decreased, but this was mitigated by an increase in renovations and strong resale activity, according to Statistics Canada.

Canadians also bought more cars and trucks, insurance and financial services, as well as food, beverages and accommodation services in the period.

Overall, exports edged up 0.1 percent after decreasing 0.3 percent in the first quarter. Imports declined 0.4 percent.

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In Memoriam: Marcy Borders, survivor known as ‘Dust Lady’ in iconic 9/11 photo, dies at 42

by on Aug.27, 2015, under 2015 Year, African-American Community, Endtimes, Revival In America, World News

New York (CNN)Many remember the haunting photograph: A woman wearing business attire and pearls is covered head-to-toe in white dust, her hands held out helplessly before her, as she makes her way out of the World Trade Center’s damaged North Tower on September 11, 2001.

Marcy Borders survived that day, getting out before both towers of the trade center crumbled and killed 2,753 people in the deadliest terror attack on U.S. soil.

But the woman in the photos, known to most as the “Dust Lady,” died Tuesday, her family said. She was 42.

She had been battling stomach cancer since last year, daughter Noelle Borders told CNN.

“My mom fought enemies in battle and I just loved her so much,” Borders said in a phone interview. “She will always live through me.”

Family members mourned the mother of two on Facebook.

“I can’t believe my sister is gone,” Michael Borders, her brother, posted.

“We lost our very own hero,” her cousin Elnardo Borders wrote.

Borders was 28, working as a legal assistant at Bank of America in the North Tower of the World Trade Center, when planes hijacked by terrorists struck.

People we lost in 2015
111 photos: People we lost in 2015
Freelance photographer Stan Honda took the famous photograph as Borders escaped the collapsing building through a cloud of dust.

“It wasn’t like it was one of the best images you would want to view out in the world,” she told CNN in an interview six months after the attacks. “Just looking at it just shows how much fear.”

Borders battled depression and drug addiction following the attacks, the Jersey Journal reported, but she checked into rehab in 2011 and found sobriety.

She had recently found work again as well — on a local political campaign in her native New Jersey — when she was diagnosed with cancer, according to the paper.

“How do you go from being healthy to waking up the next day with cancer?” she said in an interview with the Jersey Journal. “I’m saying to myself, ‘Did this thing (the towers’ collapse) ignite cancer cells in me?'”

“I definitely believe it because I haven’t had any illnesses,” she told the paper.

As of May, 3,700 survivors and first responders at the World Trade Center site have been diagnosed with cancers resulting from the terrorist attack, according to the CDC’s World Trade Center Health Program.

Reports from the CDC found that the collapse of the towers exposed workers and the general public to a number of known chemical carcinogens.

In a tweet Tuesday night, New York City Mayor Bill de Blasio remembered the survivor: “Marcy Borders’ passing is a difficult reminder of the tragedy our city suffered nearly 14 years ago. NYC holds her loved ones in our hearts.”

Endtimes: WDBJ Shooting Suspect Identified as Vester Lee Flanagan

by on Aug.26, 2015, under 2015 Year, African-American Community, Endtimes, General, Revival In America

Vester Lee Flanigan, AKA; Bryan Williams, Former WDBJ Reporter

Vester Lee Flanigan, AKA; Bryan Williams, Former WDBJ Reporter

The Augusta County Sheriff’s office has reportedly identified the alleged gunman responsible for this morning’s shooting in Roanoke, VA as Vester Lee Flanigan, 41. Flanagan, who also goes by Bryce Williams, is still at large and reportedly driving a 2009 silver Ford Mustang.

The Augusta County Sheriff’s office has reportedly identified the alleged gunman responsible for this morning’s shooting in Roanoke, VA as Vester Lee Flanigan, 41. Flanagan, who also goes by Bryce Williams, is still at large and reportedly driving a 2009 silver Ford Mustang.

UPDATE 11:35 am: Flanigan/Williams posted video of the the shooting to his Twitter and Facebook pages. Both pages have since been suspended. http://gawker.com/alleged-wdbj-g…

UPDATE 11:50 am: Flanigan/Williams has reported killed himself.

This post has been updated to correct the spelling of Flanigan’s last name.

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Endtimes: Millions wiped off British pensions as FTSE 100 loses £60BILLION in just hours

by on Aug.26, 2015, under 2015 Year, Endtimes, Financial, Shemitah Cycle, World News

LONDON’S FTSE 100 has plunged to its lowest level in almost three years, slashing the value of British pensions, after a disastrous ‘Black Monday’ of trading in China sent shock waves through global markets.

China's Black Monday hit trading in London today

China’s Black Monday hit trading in London today

By Lana Clements
PUBLISHED: 11:46, Mon, Aug 24, 2015 | UPDATED: 22:36, Mon, Aug 24, 2015

Panic selling ripped through UK markets this morning sinking the index of Britain’s largest companies by three per cent, wiping around £60billion off its worth, as it reached as low as 5768.22.

Unless the index recovers today is set to be the largest one day fall of the FTSE since 2008, over the last two weeks more than £160billion has been torn off the value of UK stock markets.

And the Dow Jones finished down 3.6 per cent after earlier dropping more than 1,000 points – or almost 7 per cent of its value.

The drop in the FTSE affects the worth of pension pots, and British savers and investors have been told to brace themselves for further losses.

Today’s mayhem followed China’s worst day of trading since 2007, where the country’s main indexes dropped by a staggering eight per cent.

Sell offs in China are related to fears over the country’s slowing economy and the Chinese government’s reaction, but have been compounded in the last couple of weeks by falling oil prices and political instability in other parts of the world.

The re-emergence of a crisis in Greece has spooked investors, with the troubled country now promising fresh volatility as it heads for early elections in September.

Elections in Spain and Portugal are also weighing on the mind’s of investors.

Michael Hewson, chief market analyst at CMC Markets UK, said: “We have a recipe for a big cocktail of uncertainty.

“As we embark on the final full week of August the prospect of further large scale volatility seems almost inevitable as investors look towards Chinese markets in particular for further clues to market direction…

“Against this backdrop it would take an investor with nerves of steel to contemplate dipping back into the market at this point.”

Today's FTSE 100 fall has been the largest since 2008.

Today’s FTSE 100 fall has been the largest since 2008.

However, other critics urged households and investors not to panic and said that now could even be a good buying opportunity.

Laith Khalaf, senior analyst, Hargreaves Lansdown, said: “The Footsie has been decimated in ten trading days, as fears over global growth have gripped international markets.

“China and commodities are still dominating proceedings, with mining companies once again bearing the brunt of poor sentiment.

“Pension funds and private investors alike will be licking their wounds, and wondering when the sell-off is going to come to an end.

“This is undoubtedly an uncomfortable period for investors, but it’s at times like these that it pays to keep your head.

“However bleak things may seem today there are reasons to be positive.

“A lower oil price will boost household budgets in the UK, Europe and the US, which should feed through into spending.

“And as long as lower petrol prices are keeping inflation down, central banks are unlikely to raise interest rates, so mortgage payments are likely to remain low for some time yet.

“Stock market corrections, like the one we are witnessing, present investors with an opportunity to put new money to work in the market at lower prices. No-one knows when this bout of angst will end, and stock prices may yet have further to fall.

“But when the market as a whole is fearful, it’s usually a good time to top up your holdings.”

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