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House Kills Fast-Track Of Obamatrade After Pelosi-Led Democrat Rebellion
Submitted by Tyler Durden on 06/12/2015 13:50 -0400
And just like that, President Obama’s fast track of his “great job creation” bill is defeated in a 126-302 procedural vote which stumbled over what is known as the Trade Adjustment Assistance.
Following Pelosi’s comments that “its defeat is the only way we will be able to slow down fast track,” and “people would rather have a job than assistance”, the defeat of a measure to provide aid to workers displaced by trade deals means the fast-tracking of the TPP is done (for now).
- *HOUSE HAS ENOUGH VOTES TO DEFEAT TRADE BILL
And with a whopping 302 votes against, House democrats just stunned the democrat president by ending the “fast-track” of the TPP and forcing it back to the drawing room table. As the NYT puts it:
House Democrats rebuffed a dramatic personal appeal from President Obama on Friday, torpedoing his ambitious push to expand his trade negotiating power — and, quite likely, his chance to secure a legacy-defining trade accord spanning the Pacific Ocean.
Of course this can all go back for another markup and another amendment but for now. TPP needs the passage of the TAA to send the bill back to Obama for his signature, which means we are back to square one.
In a remarkable rejection of a president they have resolutely backed, House Democrats voted to kill assistance to workers displaced by global trade, a program their party created and has stood by for four decades. By doing so, they brought down legislation granting the president trade promotion authority — the power to negotiate trade deals that cannot be amended or filibustered by Congress — before it could even come to a final vote.
“We want a better deal for America’s workers,” said Representative Nancy Pelosi of California, the House minority leader who has guided the president’s agenda for two terms and was personally lobbied by Mr. Obama until the last minute.
Republican leaders tried to muster support from their own party for trade adjustment assistance, a program they have long derided as an ineffective waste of money and sop to organized labor. But not enough Republicans were willing to save the program.
Republican leaders could still try to pass a stand-alone trade promotion bill, but that would force the Senate to take up a trade bill all over again. And without trade adjustment assistance alongside it, passing trade promotion authority in the Senate would be highly doubtful.
The vote was an extraordinary blow to Mr. Obama, who went to the Capitol on Friday morning to plead personally with Democrats to “play it straight” — to oppose trade promotion if they must but not to kill trade assistance, a move he cast as cynical. On Thursday night, he had made an unscheduled trip to the annual congressional baseball game to try to persuade Representative Nancy Pelosi of California, the minority leader.
And, as expected, shortly after the failure to pass TAA the House passed the TPA…
- U.S. HOUSE VOTES FOR OBAMA’S FAST-TRACK TRADE NEGOTIATING BILL
… But it did not matter because:
- VOTE IS SYMBOLIC; TRADE BILL CAN’T GO TO OBAMA
Did the US public finally give big corporations, who have successfully purchased the US president long ago, the middle finger
Weird … “Google Earth” just disappeared off my computer
Love the program. Don’t trust Google a whit!
D’oh!
Toronto’s Epic Condo Bubble Suddenly Turns into Condo Glut
testosteronepit’s pictureSubmitted by testosteronepit on 06/12/2015 00:50 -0400
Wolf Richter www.wolfstreet.com www.amazon.com/author/wolfrichter
The high-rise construction boom in Toronto has been evident for a while. It has been motivated by sky-high prices. In May, prices in Toronto rose another 5% from a year ago. For all types of homes, prices are now 42% higher than at the crazy peak of the prior bubble! And if people can’t afford to buy any longer, even with super-low interest rates, well, they can step down to a fancily equipped micro-condo, or more commonly called shoebox condo, where the dining table might fold into a bed.
But suddenly we get a nerve-wracking disturbance in this beautiful picture:
National Bank Financial said in a note to its clients that, based on data from Canada Mortgage and Housing Corp., the number of completed but unsold condos in Toronto spiked in May to 2,837, an all-time record high.
So the monthly data is choppy and may not be very reliable. It’s an estimate, and estimating new and unsold condos isn’t that easy. But the magnitude of this spike far exceeds the monthly ups and downs in recent years, and exceeds even those dizzying spikes in the late 1980s and early 1990s when the Toronto condo market went completely haywire.
But it wasn’t just one month. The count had edged up in April to hit 2,038 after having already spiked beautifully in March to the highest level since the early 1990s. This is what this phenomenon looks like (data from National Bank):
more http://www.zerohedge.com/news/2015-06-12/toronto%E2%80%99s-epic-condo-bubble-suddenly-turns-glut
No surprise
Mine financing: 2015 off to dismal start
A new report by SNL Metals & Mining shows mining financing in the first quarter of the year coming in nowhere near the capital raised in 2013 and 2014.
SNL’s research runs the gamut of metals and mineable commodities – from precious and base metals, iron ore, uranium, coal, potash/phosphates to specialty metals such as rare earth elements, graphite and lithium.
The $39.89 billion raised in 2014 was a 4% improvement over 2013, but is still nowhere near the boom days of 2007 to 2009 when more than $100 billion were raised on equity and debt markets for mining projects.
But the first three months of this year has been dismal even compared to the depressed levels of recent years.
Less than $500 million were raised in January and although there was substantial pickup in February and March, 2015 overall could be another very bad year.
more http://www.mining.com/mine-financing-2015-off-to-dismal-start/
Good morning Oasis
Orezone Files Bombore Feasibility Study
http://finance.yahoo.com/news/orezone-files-bombore-feasibility-study-202500281.html
Eldorado Gold Announces Olympias Development Update
http://finance.yahoo.com/news/eldorado-gold-announces-olympias-development-213000147.html
Eastmain Files NI 43-101 Technical Report for the Eau Claire Mineral Resource Estimate
http://finance.yahoo.com/news/eastmain-files-ni-43-101-003122640.html
B2Gold Announces Robust Results from Optimized Feasibility Study at Fekola, Mali and Closing of Previously Announced $350 million Revolving Credit Facility
http://finance.yahoo.com/news/b2gold-announces-robust-results-optimized-010933515.html
Red Pine Exploration Files NI 43-101 Technical Report for its Wawa Gold Project
http://finance.yahoo.com/news/red-pine-exploration-files-ni-120000363.html
Scruffy @ 8:37 The “Boss” or the “Employer” Is Running The Global Economy
There was only one way to fight them, but unfortunately the Americans were too dumb and brainwashed by the boss’s media to act. The people gleefully ingested foreign made, high quality, artificially cheap imported products.
Similar to starting an illegal drug habit like cocaine or heroin, or even alcohol and tobacco. The habit is easy and fun to start in the beginning, but 30-40 years later a bad habit has negative effects and impossible or painful to stop. The “boss” being the drug dealer.
My experiences with “bosses” in the private sector is typical. They are cheap skates. If they had their way they would pay you nothing. No matter how much money or profit they make, it’s never enough. They are greedy, and never satisfied. Its like a sickness. They end up dying and leave it all behind.
They never take advantage of the wealth, (like retiring at 40-50) other than an occasional vacation. Their attitude is the one who dies with the most toys wins. But in reality, TIME is the most valuable thing.
The attitude SHOULD be…..”THE ONE WHO DIES WITH THE MOST TIME OFF WINS”
With computers and robotics etc, the work hard and work long days “work ethic” in now baloney, no longer needed. But they refused to raise minimum wage with the REAL inflation rate and or lower the work week to over time over 30 or 20 hours.
Instead, they created a million things like the Environmental Protection Agency, the NSA, the TSA etc, and Solar Panels to keep excess unneeded people working at other people’s expense.
A Firday surprise in the making?
Never know
The Greek drama continues…wonder if it will help gold if it finally blows up?
Greek Stocks, Bank Bonds Battered As Deal Hope Fades
Submitted by Tyler Durden on 06/12/2015 – 08:27 
Headline hockey remains all that matters if one is “trading” European stocks, bonds, or FX. Today, so far, no deal… and so Athens Stock Exchange and Greek bank bonds are plunging (for now)…
Gold And Silver Price: Too Many Are Still Getting It Wrong
parts:
“Michael Noonan: Americans labor under the misguided belief that they have freedom, and by extension, freedom of choice. This simply is not true. Corporations are dictating more and more how Americans live, what to think, what to eat, and more. Google is a perfect example of what was once a superior search engine-turned-government-tool-for-propaganda. Searches have been sanitized to provide only that information the corporate federal government wants you to know, and no more.
It used to be the will of one in this country was protected against the majority. You can no longer find any references to this line of thinking when one Googles “rights for the will of one.” There is no such reference but mostly talk about the importance of a majority rule in a democratic society to get people to believe is such a dysfunctional point of view. If you want to do any research on topics the government prefers you do not know, content results
will be sanitized, and depending on how “anti-government” a search may be, many available responses can no longer be found but have been cleansed.”
“Despite the disappearance of the middle class in America, rising unemployment, rising numbers of people on government assistance, cities and counties on the verge of bankruptcy, a decreasing tax base, no ability to manufacture anything and create jobs [thank you Clinton and NAFTA and its disastrous outcome…expect similar disastrous results once Obama’s TPP goes into effect], there is little to no opposition to the overt lies and abuse by the elite-driven corporate federal government. The mostly docile American public are too ill-informed and/or simply unwilling to believe how corrupt the government is as it serves only interests of bankers and corporate leaders…public be damned, and damned they will be.”
When gold used to be the backing behind the US before 1913, dollar [the real dollar], the privately owned Federal reserve usurping the constitutionally mandated control of the money supply only by Congress, people were independent of and not reliant upon the government. There was no unemployment insurance, no social security, no social safety nets for the public. This is why gold and silver are so despised by the elites. People do not need the government when they have independent wealth in gold and silver.
http://etfdailynews.com/2015/06/08/gold-and-silver-price-too-many-are-still-getting-it-wrong/
More vaccine news
CDC going to add gardasil to the long list of vaccines recommended that california children are now going to be mandates to take. These pharmas are on w roll. Pretty soon you won’t be able to work without talking them and probably jail time after that because we have these idiots that want to line up and drink the koolaid without knowing what’s in it and think it’s alright to force it on others. By the time they wake up as they move from one thing to the next like mandatory clinical trials it will be too late.
The homeopath that you’ve seen before has updates
This one is interesting. We know if talk of fema camps, homeland insecurity putting adds up for workers to send food ” temporairly ” and fences, the coffin liners in mass, et all. This might be another piece to the puzzle. Bush executive order for rounding up and detaining people for a flu that doesn’t exist if there is even a POTENTIAL for a pandemic. Since when isn’t the flu epidemic so can be easily called a potential for a pandemic. Is that what they are going to use when the time comes or the rumors of something that’s going to kill a lot of people? So if they get sick they get private jets the best Heath care and we get rounded up in camps with substandard care by people cramped together causing stress fatigue and re infecting each other almost assuring you will be at risk of dying.
Living the dream
Silver flat, gold $4 “off the lows”
and yet pm shares hover at the lows of the day.
What a mess.
Auandag
That cop having a bad day although don’t defend how he treated that girl just made thing worse and violated her rights I believe their ordered to do this military type stuff then throw them under the bus when they do it and get caught. I believe he was human having a bad day mixed with orders on military treatment. It wasn’t the kids fighting it was adults. Although the kids refused to leave. I’m guessing some just needing for a ride and were stuck there and too far to walk esp in a bikini.
Then we got Boston Mayor who KNEW they ordered the cops to round up people off the streets and then turned around and said it was unlawful. When someone said the police think she doesnt have their backs she said she came from a family of cops and that’s abserd. So that makes it all right while she promotes herself and throws them under the bus for something SHE knew they were orders to do. Not only that but no concern for the officers injured during the riots.
Sludge Report
INDIAN SILVER IMPORTS: On Track To Smash All Records
Silver Train
Amtrak’s California Zephyr crests the
Soldier Summit in Utah.
http://www.railpictures.net/viewphoto.php?id=526441
It’s a never-ending uphill battle.