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The ’51st U.S. State’ Declares Bankruptcy As Corporate Insiders Sell Stocks At The Fastest Rate Since The Last Financial Crisis

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Puerto Rico has collapsed financially and has “filed for the equivalent of bankruptcy protection”.  When this was announced on Wednesday, it quickly made front page news all over the planet.  For decades, Puerto Rico has been considered to be the territory most likely to become “the 51st U.S. state”, and there have even been rumblings that we could soon see a renewed push for statehood.  But that is on the back burner for now, because at the moment Puerto Rico is dealing with a nightmarish financial crisis that is the result of an accelerating economic collapse.  Unfortunately, many Americans still don’t believe that what has happened to Puerto Rico could happen to us, even though signs of major economic trouble are emerging all around us.

Almost two years ago I issued a major warning about the debt crisis in Puerto Rico, and now the day of reckoning for “America’s Greece” has finally arrived

Saddled by mountainous debts and undermined by rapid population loss, Puerto Rico filed for the equivalent of bankruptcy protection Wednesday in a historic move that will trigger a fierce legal battle, with the fate of the island’s citizens, creditors and workers at stake.

The oversight board appointed to lead the U.S. territory back to fiscal sustainability declared in a court filing that it is “unable to provide its citizens effective services,” crushed by $74 billion in debts and $49 billion in pension liabilities.

Like Greece, Zimbabwe, Venezuela and so many others, what has happened in Puerto Rico shows us that it is simply not possible to live way above your means indefinitely.  If your debt grows much faster than your economy, eventually you reach a point where financial disaster is inevitable.  This is a lesson that our leaders in Washington D.C. desperately need to learn before it is too late for the United States.

Since 2007, the population of Puerto Rico has declined by 10 percent and the number of jobs in that nation has declined by 20 percent.  It is a long-term economic collapse that just continues to get even worse with each passing month.

Unfortunately for Wall Street, many large U.S. financial institutions have invested very heavily in Puerto Rico’s bonds.  In fact, it has been estimated that 180 mutual funds have “at least 5% of their portfolios in Puerto Rican bonds”.

At this point, U.S. firms stand poised to lose billions of dollars as their investments become worthless, and many of these firms were totally blindsided because they were assured that this could not happen…

The financial collapse promises to impose deep losses on bondholders who for years snapped up Puerto Rico’s securities, which are tax-free throughout the U.S. U.S. states can’t file for bankruptcy, and investors bought the bonds assured that it wasn’t a legal option for Puerto Rico either.

The scale of the restructuring is far larger than Detroit’s record-setting $18 billion bankruptcy, and it’s unclear how long a court proceeding would last or how deep would be the cuts that are imposed on bondholders.

So how far will the financial collapse of Puerto Rico ultimately ripple through our financial system?

It is hard to say, but without a doubt this is a major concern.

Meanwhile, corporate insiders are selling stocks at the fastest pace that we have seen in seven years.  The following comes from Business Insider

As the investing public has continued to devour stocks, sending all three major indexes to record highs in the last few months, corporate insiders have been offloading shares to an extent not seen in seven years. Selling totaled $10 billion in March, according to data compiled by Trim Tabs.

It’s a troubling trend facing an equity market that’s already grappling with its loftiest valuations since the 2000 tech bubble. If the people with the deepest knowledge of a company are cashing out, why should investors keep buying at current prices?

What do those corporate insiders know that the rest of us do not?

Perhaps they are just being rational.  If I was a top corporate insider at one of these “unicorns” that have market caps in the tens of billions of dollars even though they are consistently losing hundreds of millions of dollars a year I would be selling too.

You make money in the stock market by selling at the right time.  Those that sold their Pets.com stock at the peak of the dotcom bubble got quite wealthy, but those that held on all the way through the stock market crash got completely wiped out.

There have been some analysts that have suggested that one way to make money in the stock market is to simply do what the insiders are doing.  If they are buying, then that is supposedly a time to buy, and if they are selling that is supposedly a time to sell.

Personally, I would rather use my limited resources to get prepared for the horrific crisis that is inevitably coming, but not everyone agrees with that outlook.

The crisis in Puerto Rico developed over an extended period of time, and there were plenty of warning signs.

So anyone that is still holding Puerto Rican bonds at this point is quite foolish.

Similarly, the warning signs here in the U.S. have been mounting for quite a while.  Just yesterday, we got more exceedingly bad news for the U.S. auto industry, and we are on pace to absolutely smash the all-time record for most retail store closings in a single year.

Just because a crisis does not arrive on the exact month or year that you were anticipating does not mean that it has been canceled.

I warned about a looming financial cataclysm in Puerto Rico nearly two years ago, but they somehow managed to hang on until now.  And even though the U.S. financial system is still afloat for the moment, everyone should be able to see that we are definitely living on borrowed time.

So don’t look down on Puerto Rico, because what is happening to them is eventually coming here too.

 
  • “V”

    I cannot imagine being one of those pensioners, living on a fixed income only to have the Government come along and say “Sorry”. We are going to have to Deduct 50-60% of what you were getting and that’s what you have to live on.

    • socalbeachdude

      It’s “NO MONEY, NO CHECKIE” time for many people counting on pensions!

      • GSOB

        Plan to meet our God

  • “V”

    I have been Following the developments in Venezuela, I am surprised complete anarchy has not occurred there yet.

    • socalbeachdude

      They just increased minimum wages by 60% there today!

      • trevmac789

        that should cover a month of inflation.

        • socalbeachdude

          Almost…!

    • Jeri Brace

      in Venezuela the Bolivar is so worthless they weigh it instead of counting it by denominations.

  • ALWAYSTOMORROW

    Interesting article.

    I think I will have some turkey smoked sausage and sauerkraut.

    • JC Teecher

      You must be a big son of a gun, with all the eating you talk about.

      • ALWAYSTOMORROW

        5′ 10″, 165lbs, BMI 23.7.

        • JC Teecher

          Ah, just a connoisseur of delectable delights, like myself, that can eat like a horse and never gain but a few lbs. because of a high metabolism.

          I love to cook, and do 99.9% of it in our household. Wifey loves it, but I do request she do the dishes. she complains once in a while, until she gets her favorite dish, and then she does the cleaning without a fuss.

          • GSOB

            John 21:9-10

  • whats another trillion?

    no state wanted to be first,now that rico has set that precedent,at least a couple dozens states will come to the bailout trough to stiff investers,california will be next up,then new York,well really too many to count

    • socalbeachdude

      There is no provision whatsoever in the federal bankruptcy laws for any state in the United States to ever file for bankruptcy. Only municipalities may do so under Chapter 9 of the federal bankruptcy laws.

    • JC Teecher

      Two billion for the poor attempt at “restructuring” PR’s debt, isn’t a bail out. Many in the Senate, and House, last year, wanted a complete bailout.
      Why?
      Most likely because they have ties to the big Hedge Funds that bought up a large portion of the PR debt, in “anticipation” of another huge US Taxpayer bailout, whereby they would make a ton of $$, …under the table, for pushing the bailout through.
      That is the only answer that makes any sense.

  • socalbeachdude

    Puerto Rico Attempts To Declare a Form of Bankruptcy

    Puerto Rico’s leadership moved on Wednesday to place the island’s debt crisis into federal bankruptcy court, making it the largest United States government entity to seek court refuge from its creditors in American history.

    The move sends Puerto Rico into uncharted territory. America’s recent spate of municipal bankruptcies has involved various state and federal laws, but Puerto Rico is not a state, so none of that hard-won precedent will apply. The outcome of its case could help determine where and how the deep financial troubles of certain states, such as Illinois, are resolved.

    Puerto Rico has roughly $120 billion of bond debt and unfunded pension obligations to restructure, which dwarfs the second-largest similar episode. When Detroit went bankrupt in 2013, it set the previous record, with about $18 billion of bond debt and retirement obligations.

    The island’s case will not be formally called a bankruptcy, since Puerto Rico is barred from using Chapter 9, the bankruptcy route normally used by insolvent local governments. Instead, the governor of Puerto Rico, Ricardo Rosselló, petitioned for relief under Title III of a new federal law for insolvent territorial governments, called Promesa. It contains some bankruptcy provisions and has never been used before, so there is no road map to follow.

    https://www.nytimes.com/2017/05/03/business/dealbook/puerto-rico-debt.html

  • socalbeachdude

    Puerto needs to raise its taxes on its citizens dramatically while also cutting spending by its government and agencies dramatically as they certainly are not going to get any bailout of any sort from the insolvent federal government of the United States. Moreover, any and all pension payments from Puerto Rico should be immediately suspended until Puerto Rico moves towards solvency and properly paying its creditors who are the first order of priorities.

    • Horiboyable .

      Yes they should follow the Greece model because it has really worked out well for them.

      • socalbeachdude

        The people of Greece are the most fiscally irresponsible people in the developed world and need to be dealt with accordingly which is precisely what Germany, the IMF, and the ECB are currently doing and they will simply have to pay the price for their gross financial profligacy. The Troika has had enough and far more than enough from those folks.

        • Horiboyable .

          So what you are saying is that Politicians can commit fraud and its ok that the citizens of Greece pick up the tab, wow that sounds totally fair!!
          I was around when Greece joined the Euro, it was common knowledge that Greece cooked the books to get entry into the Euro and they were assisted by Goldman Sachs crooks and the EU turned a blind eye because they were eager for another nation to join the Euro. Group thinking at its worst. Germany knew there was slight of hand going on so as far as I am concerned Greece should have defaulted and let the French and German Banks fall which they are going to do anyway, its just a matter of time. The EU is a cesspit full of crooks and the collapse is just a matter of time.
          They better hope Le Penn is not elected this weekend because the financial markets will go into melt down over night. and no asset class will be safe.

    • steven454

      >> Puerto needs to raise its taxes on its citizens

      possibly, but that’s also the corner stone of the ongoing wealth transfer from the 99% TO the 1%. The wealthy get fat contracts bilk the government for billions, then the tax payers get the bill afterwards. I think what needs to be done is that that debt should be investigated and questionable contracts should be reversed – retrieve money that was spent which shouldn’t have been spent. Everyone just accepts that the money that is “owed” is legitimate.

      I can’t speak to the pension issues.

      • socalbeachdude

        There is no “wealth” to transfer at all. Hellooo?

      • Concerned Capitalist

        The 1% are intelligent enough to avoid high taxes through capital gains, cash flows, and most importantly unrealized income. That is why some billionaires pay only 20% or even less in taxes. Unrealized income and municipal bonds are tax exempt; the former is impossible to tax, while the latter is simply exempt as decreed by law.

        Raising taxes would be cataclysmic, and would force active and idle capital to flee the tax man. If the U.S. eliminated all entitlements except for insurance for (actual) disabilities and temporary unemployment (capped to half a year or somewhere in that approximate range), cut defense by 50% and agricultural subsidies by 90-100%, government would be able to lower taxes. If communist apparatchik in Communist Congress had the intellectual ability to think about things besides dropping bombs, spending, and taxing job creators, the middle class and the poor alike, they might accomplish something.

        сброд = коммунистических народника
        rabble = communist populists

  • not me

    we know that Thurmond proposed” the text that stripped Puerto Rico of
    the right to let municipalities and public utilities declare bankruptcy.
    There is no question that Thurmond introduced the amendment with that
    change. Thanks Strom! you are a Career criminal!

    • Guest

      He’s dead.

      • socalbeachdude

        That dude’s been dead for nearly 14 years and croaked on June 26, 2003.

  • socalbeachdude

    Americans Wealthier Than Ever…

    U.S. household net worth climbed to a record $92.8 trillion in the fourth quarter of 2016, as the end-of-year surge in stocks and a steady climb in home prices added more than $2 trillion of wealth to household balance sheets.

    The biggest contributor to the increase was the stock market’s end-of-year rally, which added $728 billion to household net worth in the fourth quarter, according to the Federal Reserve’s quarterly financial accounts report.

    https://www.wsj.com/articles/u-s-household-net-worth-reaches-record-92-8-trillion-1489078918

  • socalbeachdude

    FLASHBACK TO A YEAR AGO…

    Puerto Rico rescue bill clears Congress days before debt cliff

    Rescue legislation aimed at helping Puerto Rico address its mounting fiscal crisis cleared Congress Wednesday, two days before the U.S. territory is set to default on roughly $2 billion in debt payments.

    The bill passed by the Senate on a 68-to-30 vote opens a path for an orderly restructuring of the island’s $72 billion in bond debt while creating a new federally appointed fiscal oversight board. It passed the House earlier this month, and President Obama has said he will sign it.

    https://www.washingtonpost.com/news/powerpost/wp/2016/06/29/senate-poised-to-act-on-puerto-rico-debt-days-before-debt-cliff/

  • socalbeachdude

    Puerto Rico Says Will Default Even With Congressional Help…

    Two days before a potential historical default, Puerto Rico Governor Alejandro Garcia Padilla made it clear that the commonwealth won’t pay bondholders even as Congress votes on a bill allowing the island to restructure its $70 billion in debt.

    “On July 1, 2016, Puerto Rico will default on more than $1 billion in general obligation bonds, the island’s senior credits protected by a constitutional lien on revenues,” Garcia Padilla wrote in a editorial posted on a CNBC website.

    http://www.bloomberg.com/news/articles/2016-06-29/puerto-rico-says-it-will-default-even-with-congressional-help

  • socalbeachdude

    1) BONDS ARE UNSECURED CREDIT

    2) THERE IS NO COLLATERAL TO BACK BONDS

    3) NO PHYSICAL ASSETS OF THE BOND ISSUER MAY EVER BE SEIZED IN ANY MANNER BY BOND HOLDERS

    4) BONDS ARE SUBJECT TO THE RISK OF UP TO 100% LOSS JUST AS IS THE CASE WITH STOCKS

    5) BOND ISSUERS CAN AND DO DEFAULT ON BONDS

    6) THERE IS NO LEGAL RECOURSE OF BONDHOLDERS EVER OF SEIZING AND SELLING ASSETS OF THE BOND ISSUER.

    7) THE ONLY RECOURSE OF A DEFAULTED BOND HOLDER IS TO FILE A LAWSUIT TO ATTEMPT TO COLLECT FROM THE BOND ISSUER and if the bond issuer does not have funds and is INSOLVENT as was the case with General Motors then the bondholders simply suffer 100% losses on the bonds they hold.

    8) ALL BONDS ARE GOVERNED BY THE COVENANTS CLEARLY STATED IN THOSE BONDS and those rules are what government how default and settlement of bonds are actually handled.

  • socalbeachdude

    What needs to happen and what will happen on these Puerto Rico bonds which total $72 trillion of face value is DEFAULT. Millions of them are already in default and at least $2 billion more will go into DEFAULT on July 1, 2016. At that stage, Puerto Rico needs to be ENTIRE CUT OFF FROM ANY FURTHER BORROWING and needs to see the YIELDS ON THEIR OUTSTANDING BONDS RISE IN THE MARKET TO REFLECT THE MASSIVELY INCREASED RISK OF DEFAULT at which time the bond prices / values will decline significantly as prices of bonds are inverse to their yields.

    Puerto Rico is INSOLVENT but prohibited by the Supreme Court from declaring bankruptcy either as a territorial sovereign government or through any of its municipalities and agencies declaring bankruptcy as they are SPECIFICALLY PRECLUDED FROM DOING SO under the federal bankruptcy laws which apply to all US states, territories, and districts.

    Bond holders HAVE NO RIGHTS AT ALL FOR RECOURSE ON BONDS EXCEPT FOR THE CONVENTS IN THOSE BONDS and cannot force any asset sales on sovereign or municipal bonds at all under BOND COVENANTS.

    For bondholders, it’s now “NO MONEY, NO CHECKIE!”

  • socalbeachdude

    Puerto Rico is a territory and its municipal agencies have no rights to ever file for federal bankruptcy protection under Chapter 9 of the federal bankruptcy code. The Federal government CANNOT PRINT MONEY at all and only the Federal Reserve can create money.

  • socalbeachdude

    Who owns Puerto Rico’s debt?

    Hedge funds own 14 billion. The rest is owned by various mutual funds and investments.

    Over 20% of bond mutual funds own Puerto Rican bonds, according to data from Morningstar (the exact numbers are 377 funds out of 1,884 United States bond mutual funds).

    The majority of the funds with exposure are municipal bond funds or high yield bond funds. Puerto Rico’s bonds have municipal status, meaning they are tax exempt. That’s why a lot of retirees buy them.

    In total, bond mutual funds hold about $11.3 billion of the island’s debt. Another roughly $15 billion is held by hedge funds. The remainder of the debt is held largely by individuals — mostly Puerto Ricans and mainland Americans.

    http://money.cnn.com/2015/07/01/investing/puerto-rico-bond-holders/index.html

  • socalbeachdude

    Silver bullion has plunged nearly 11% in the past 2 weeks and nearly all commodities are on a substantial downward trajectory as the global deflationary spiral considerably and rapidly intensifies.

    Gold $40 off French election peak; silver hammered

    http://www.financialsense.com/adrian-ash/gold-bullion-40-off-french-election-peak-silver-hammered?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+fso+%28Financial+Sense%29&utm_term=FSO

    • Zlatko Milanovic

      A buying opportunity, buy the dips.

  • JC Teecher

    I agree with every point and fact that this article expresses, except:

    “So don’t look down on Puerto Rico, because what is happening to them is eventually coming here too.”

    I think we as honest, and hardworking, (past tense for some of us)..taxpayers, “should”, look down on the gov/leaders of Puerto Rico, just like the leadership/politicians of Detroit. If we as Americans, don’t look down on corruption, and that is mainly what the problem is; then we are part of the problem, and not the solution.

    These greedy and corrupt politicians of Detroit and Puerto Rico, just kept the wheels turning, while betting/gambling on the good ole Uncle Sam taxpayer to bail their incompetent arses out, as we did with the greedy bankers and GM, (Chrysler?) in 2008/09.

    People should shame these gov gurus into private sector jobs, and let them see how the real world actually works. You set a budget and stick to it, and when problems arise, you don’t just sweep it under a rug, and wait until it’s too late, and come a running with your greedy little hands out.

    And btw, i do agree that the bankrupt that Detroit and Puerto Rico is seeing, “is eventually coming here too”.
    It’s already here, but we just haven’t felt it yet. Some of us that have been planning and preparing for the past decade will be affected in some way when it does come, but it will not be a disaster for us.
    With no debt looming over our heads, and no piles of cash tied up in the markets or banks, we won’t flinch when the headlines read…..

    ” Bank Failures Consume Customers Cash During
    Lockdown ”

    “As the Stock market continues to crash, the first reports of Bank foreclosures and evictions of families from their homes began today, ……………………………………………………”

    • socalbeachdude

      No bankers were “bailed out” at all back in 2008-2009 and there was no net cost (except for about $10 billion for GM) to the entire federal government TARP program which has nothing to do with the Federal Reserve.

    • mtntrek3

      Hey JCT. Maybe I’m being too simplistic about the problems here and elsewhere…… but the underlying problem is greed. I’ve spoken with my dad about what is going on now compared to back some forty+years ago. He was saying that even though one didn’t earn as much back then…. the dollar went further. Of course we all see that, but the older generations can really see it. I see it being 52. All the while…. incomes haven’t kept up with inflation/devaluation of the dollar. Like Ross Perot said you can’t do business with people with no money. Of course along with this are ones that take on debt for the sake of pleasure/convenience …… living way beyond their means for no good reason. Anyway, my 0.02 . Take care.

      • Carl

        There was greed even back forty years ago. If your life was comfortable in the past you did not really notice the suffering of other people.

        It is only when things in our own lives go to hell in a hand basket so to speak that your eyes are finally opened to reveal the reality of the world that we live in.

        This is what happened to me. I was always busy, busy, busy. Life was comfortable and good. But then things changed and life became uncomfortable. It was my search for understanding if you will about why this was happening to me that I began to understand the reality of the world we live in.

        It was eye opening and changed my life forever. I will never look at anything the same way again and for that I am grateful.

        I don’t blame those who seek to get into debt to have what everyone else has. It is human nature to seek comfort and if debt is the only way to afford said comfort then that is what people will do – get into debt.

        Because life for many is hard and this is how they cope with it.

        • Jazz

          This side of eternity there is pain, suffering, evil, wickedness, sin, sickness, destruction, temptation, and all other kinds of trouble. Jesus is the answer. He can turn your heart of stone to a heart of love, compassion, and hope. He loves you Carl despite your past. He is calling to you and wants you to have a relationship with Him. Don’t delay another day you may not be here tomorrow. Live each day like it could be your last. Your eternity depends on it!

          • Carl

            Why don’t you add something productive to the conversation instead of mindless babble? I don’t care about eternity.

          • Jazz

            Oh I am adding the most productive contribution about God’s love for you. I could talk Elliott Wave theory, sovereign debt crisis, PE and PEG ratios, commodities markets, bollinger bands, MACD, winning stock ideas, ETF strategies, on and on with my decades of market experience but Jesus is more important than all of that worldly wisdom. I will leave our discussion on eternity in God’s hands and I pray He softens your heart to some day receive his message of love, redemption, and a union with Him.

          • socalbeachdude

            What utter nonsense.

          • JC Teecher

            I see your point, and wonder why you got up on the wrong side of the bed this morning? or, maybe that is your problem, you haven’t been to bed.
            If you don’t care about eternity, how can you even care about daily living, because that would mean it is all for naught, unless you are taking care of someone, that depends on you.
            Are you Carl? Does anyone depend on you or need you for anything?
            if not, then why keep on living with such hate and bitterness?
            Either make a change or end it.
            If my life meant nothing to anyone, and I was so miserable and wanted to be snuffed out completely, with never any memory of myself, from anyone, then what would it matter to just end it today, and be done with the suffering of which you apparently are going through?

          • GSOB

            Ecclesiastes 3:9-11

          • socalbeachdude

            Start dealing with the PRESENT rather than some bogus and absurdly nonsensical notion such as “eternity” which is not applicable to people.

        • mtntrek3

          Yes Carl, for some time after I got out of the service I (my family and I ) were doing quite well financially speaking. Then as you say happened in your life, we started hitting less prosperous times. It was a lesson for me as well and I began to value what we had more along w/being more grateful. We also began to get out of debt seeing that it could really drown us in a hurry. I can relate to what you say about ones diving into debt for the sake of “comfort”, but….. . Personally I wouldn’t be able to sleep at night in debt over my head. As I said in a post a few days ago my wife and I have a relative on each side of the family that are in hock to the moon, and would make a habit of hitting us and others up for money among other things constantly. One day they and ones like them will ultimately become a financial train wreck……. we distance ourselves from them nowadays. We don’t want to end up ruined like them.

      • JC Teecher

        No you aren’t too simplistic about the problems, because it is the love of money and stuff, including power and prestige, that most people think they have if they are “perceived” to have money. Greed is where the love of money comes from.

        Example about the perceptions that ignorant people live for.
        There are elderly men, and some women, but mostly men, that have worked all their lives, gone to church every Sunday, paid tithes into a church and to Pastor’s that teach falsely, especially about prosperity is a right for Christians. All those years their tithes and offerings into “unfertile” ground.
        The church did nothing to help poor and homeless, or to do evangelism to other countries.
        No, they spent all their money to pay for preachers and pensions that kept giving them the sweet prosperity and escape message they wanted to hear. Oh, occasionally someone came to Christ, but most of those were coming to Christ, even if it were in a little country shack of a church, or in their own house.
        No, the church people of this huge church put all their money into more buildings, fancier windows and brick and rock work and landscaping that is a wonder to behold.
        Now back to the man that paid tithes into the church of un-fertile ground for 50 years.
        he wants to be seen as a man that has made it big time, so he goes out and buys a $70,000.00 f-350 loaded to the gills with the most expensive tricked out package he can get on it. Just so he can drive it to church and be seen, by other materialistic peoples for what he has accomplished.

        Does he need the expensive truck? No, because he doesn’t even own anything to pull with it, or does not even haul anything,nor even go anywhere for vacations. His wife has begged him for years to go places, but he is too tight and greedy, and just sits at home and goes to church two times each week, and that is his life, til he dies.
        What has he accomplished with the expensive new and shiney truck? To make himself feel good, and all swelled up with pride.
        How much better would his reward be in Heaven/Eternity if he had spent that money in helping do evangelism work, or even putting it into an actual ministry that touches peoples lives in big ways?
        Living for pride, through greed, is not the right way to get the Lord’s attention, but it will get it, and not in a good way, for all is written down in each person’s Book of Life.

        • mtntrek3

          Good story. Sad but true often times.

  • socalbeachdude

    PUERTO RICO DEADBEATS TRY TO EVADE CREDITORS…

    Puerto Rico’s governor turned to the courts Wednesday to protect the U.S. territory from a crushing $73 billion debt in the largest effort ever made by a U.S. government to shield itself from creditors.

    Gov. Ricardo Rossello made the announcement after negotiations with Puerto Rico’s bondholders failed. Rossello said a federal control board overseeing the island’s finances agreed with his request to put certain debts before a federal bankruptcy court.

    The outcome of the case could have implications for financially troubled U.S. cities or states.

    http://www.mcclatchydc.com/news/politics-government/national-politics/article148263834.html

  • socalbeachdude

    Federal Reserve FOMC Sticks to Gradual Rate-Hike Approach Despite Slowdown

    U.S. central bankers stuck to their outlook for gradual monetary-policy tightening after they left interest rates unchanged and showed no alarm over recent economic weakness.

    Federal Reserve officials were unusually explicit in their statement, released Wednesday following a two-day meeting in Washington, indicating that a disappointing first quarter wouldn’t knock the committee off its path to raise rates two more times this year after a hike in March.

    “The committee views the slowing in growth during the first quarter as likely to be transitory,” the Federal Open Market Committee said. “Near-term risks to the economic outlook appear roughly balanced.”

    The widely expected decision contained no concrete commitment to the timing of the next rate increase. Even so, investors increased bets on a move in June after absorbing the Fed’s sanguine assessment of the outlook and its encouraging observations on inflation, following data showing first-quarter economic growth of 0.7 percent and monthly price declines in March.

    “Nothing in the statement today, which was voted unanimously by the FOMC, leads me to believe that the Fed is even close to changing its mind on rates,” Roberto Perli, a partner at Cornerstone Macro LLC in Washington, wrote in a note to clients. “Base case is for a couple more rate hikes this year — probably in June and September — and for the beginning of balance sheet shrinkage in December.”

    https://www.bloomberg.com/news/articles/2017-05-03/fed-signals-gradual-rate-hike-approach-intact-despite-soft-patch

  • socalbeachdude

    Puerto Rico faces uncertain future as debt saga unfolds

    Uncertainty is spreading across Puerto Rico and the U.S. municipal bond market now that the U.S. territory has taken an unprecedented step into federal court to restructure a portion of its $73 billion debt.

    https://www.washingtonpost.com/world/the_americas/puerto-rico-faces-uncertain-future-as-debt-saga-unfolds/2017/05/04/540cceba-307f-11e7-a335-fa0ae1940305_story.html

  • socalbeachdude

    $10 billion of “corporate insider” selling is not even of the slightest bit of significance in US stock markets that are now valued at over $30 TRILLION.

  • mtntrek3

    Yeah, we look to a “savior” in our world as the world defines him , but he won’t be found. The antichrist will have supposed solutions to our ills and will have most of the world following him…….. into the lake of fire. PLEASE everyone…… Christ is the Way.

    • socalbeachdude

      Only 23% of the world’s population has any interest at all in the Christian religion and that interest in no way at all solves any of the world’s pressing problems.

    • Carl

      Exactly how does that work? Our modern conveniences have made us blind to the suffering of human and animals that goes on every single day. Believing in jesus changes nothing and it is only when people do something that things change. Maybe god will join satan in the lake of fire as penance for the world he supposedly created.

      • Jazz

        We live in a broken world and all need the love of the Savior. A changed heart and a changed man can triumph over evil. Jesus changes everything. We must be changed to see the fruits of the spirit. Carl God loves you and wants a relationship with Him. Don’t fight it another day. Get on your knees and ask for God to reveal himself and you will be blind no more. Darkness will turn to light. He loves you and is there with open arms no matter your past.

        • Carl

          Yes man can overcome evil. But don’t fool yourself into thinking it is god. Every human has a choice as to if they will do moral or the immoral. Good or evil. The devil and god change nothing in that equation.

          • Jazz

            So where did this all come from? We can argue until the cows come home about who God is but the truth remains it takes FAR more faith to believe there is no god than to believe in a Creator. There is too much significant evidence to ignore the proof that this earth, universe, solar system, human bodies, animals were created with a purpose and design that could only be done by something supernatural and beyond us. You may deny Jesus as God in your choice but only a fool could conclude there was no Creator.

          • Carl

            The universe has always been. Consciousness has created this place and the living things in this place. That is why you have all the different species of animals, races of people and geographical differences. We are this consciousness and we are manifested here in physical form. We all go back to limitless consciousness when we die. To reincarnate to the same place or to be elevated to a higher level of consciousness and existence.

          • GSOB

            Hinduism

          • Carl

            Don’t box me into one specific religious perspective GSOB. As I have said in previous posts some of my ideas may be reflective of one ideology or another but I do not adhere to any specific religion or political viewpoint.

            Unlike many I embrace the complications of the human mind. Most will not even dare to question their religious beliefs because they are afraid of retaliation from their god. I have questioned and renounced all without this supposed retaliation. There is none but in the prison of our own minds and our own creation.

      • mtntrek3

        I think it’s more our hardened hearts that bring on the lack of concern for others and our world as a whole. When we truly accept Jesus as Savior and repent of our sins/ask Him to forgive us …… He comes into our life and we have a kinder, more gentle and caring heart. We want to do better according to His will in our lives. He helps us do that. We created the horrible things in the world through our sin….. our disobedience to God. God is perfect, the ones to suffer forever are Satan and his angels… along with anyone not found in the Book of Life ( the unsaved).

    • JC Teecher

      Amen to that, Chris.
      Things will escalate over the next few years to a point in the future that Folks will be looking for a Saviour, someone to bail them out in a fly-away quickie cruise to Glory. They will want it so bad, that they forget that Christ said He is returning “after” tribulation, and that he isn’t coming back as Saviour, but with a mighty Sword to pour out wrath upon all non-believers and the heathen.

      What? Not as the Saviour?
      Nope He already did that as He came as a Babe, and became the salvation for the world, and Father gave us a letter to rightly divide and learn from.
      He returns As King of Kings, Lord of Lords, as the saving part has past at that point, except for those found innocent of their non-belief and they, and they only, will have a chance to be taught truth in the Millennium, to hopefully find their salvation. Christ doesn’t teach them, we, the ones He has chosen for teaching, will do it. Christ will sit as King and Lord for our own guidance and love, but not as Saviour with a fly-away message. That is what ole Lucifer antichrist will be preaching at the sixth trump and many are all prepped /geared/ wired up, for it. problem is, where he is going, you do not want to be going for the following 1000 years. He can’t return to heaven where he is now. he goes into the pit, and those that follow him and his fly-away/rapture doctrine, are going there with him. They took his lies and therein took the mark, which is a spiritual mark, just like the one that was placed on Cain. Marked for death and destruction.

      • James Staten

        JC…I have been looking at your different comments. I am persuaded that if you don’t believe the Scripture, you will never believe me. With that said, I ask one more time? Please show me in Scripture where AC/Lucifer will be preaching at the 6th Seal a Fly Away Message. I assume you have a scriptural basis for this comment, because you keep stating it. There is a reason for the admonition to Keep Looking Up for Our Blessed Hope.

        • JC Teecher

          Our blessed hope is coming and we should be looking up for it….after the little reign of Lucifer.
          God’s faithful and elect look forward to making a stand against lucifer as antichrist. We are not afraid of him as we have power over him, through Christ.
          We are not so weak as we need an escapism doctrine to make us feel good like a warm and fuzzy little security blankey.

          Antichrsit, being played by Satan himself will be everything to everybody that does not have the full covering of Christ over them. So obi wan, what is the main thing the pre-tribbers want and expect?
          The fly away message to safety from tribulation. so how easy it will be for Satan to pass himself off as the Messiah returned, with a rapture message. You people are already brainwashed into believing it is a sure thing. it is a sure thing that that is the message he will preach to you that are deceived.

          Don’t worry about why it isn’t written in these exact words. You just keep on believing the lie and it will come and you dear jimmy will either fall for it and swallow more of the lie, hook line and sinker, or you will be amazed that you had heard all about it before, and you just mocked the words of The Father, the Son, and the apostles.
          I can see you climbing in a cave after you have been swallowing the lie for so long, trying to hide your face, because of your ignorance and shame, from the true Messiah’s face, at the last Trump.

          Some, especially those that have deceived so many like John Hagee, will even be crying for the mountains to fall upon them, so they can die…but death will not come, because the change, the rapture, has finally come in the form of a bodily change from flesh to spirit, but not with the flying away from earth part; as they can’t die a flesh death ever, but face a possible death of the soul.

          • James Staten

            First of all Our Blessed Hope is a Him and not an it. Secondly, You really can’t provide a Scripture for the AC proclaiming he will fly everyone away?

            Third, If one of these people on this board ask you for the definition of the Gospel, I am just wondering what would your answer be?

          • Carl

            God is not a gender. Man turned god into an imitation of himself. God has both the masculine and feminine characteristics. That is how it should be as all humans have this duality. It is the fake religious texts that took this feminine aspect away from god and made him purely make centered.

            What makes a male and a female? Their physical body parts. Take away the body – which god does not have and there is no gender classification.

          • JC Teecher

            Once again you prove your ignorance and /or belief in the Words spoken by Jesus Christ….” If you have seen me, then you have seen the Father”.
            Christ as the Son is the “spitting image” of His Father.
            Separate entities, but with the exact mind and thought processes.

            They are masculine, and as far as we know, in the first Heaven and Earth age, there were no feminine entities created.
            Maybe some more feminine than others, but definitely no female parts, as in reproductive organs. There was no need.
            But, I guess you know more about what God is or isn’t than anyone else…oh obi wan.

          • socalbeachdude

            Beyond laughably false.

          • Carl

            ” If you have seen me, then you have seen the Father” not literal so no not true at all.

            Gender is no specific in the spiritual plane as I have discussed before. All deities or spirits if you will have the male and female characteristics. Since they have no actual physical form they are free to create whatever reality they choose.

          • socalbeachdude

            Indeed, Carl, and 100% correct.

          • JC Teecher

            It would be different than what I am saying to you mr liberal minded cultist, that’s only about trying to play word games and shut me up. not happening.

            Buck off, buckaroo, I am done with you.

          • James Staten

            The crying shame is I have asked a few over the years to give a definition of the Gospel. They refuse because they can’t or will not? You spout all this theology, but a simple question of the definition of the Gospel, and you will not answer. Just like the Apostle Paul, I declare unto you the Gospel, by which the day is coming, when every man will be judged by this Gospel. . https://www.biblegateway.com/passage/?search=1+Corinthians+15%3A1-4&version=KJV

          • JC Teecher

            Gospel is basically good tidings/rewards, from the doctrines of Jesus Christ.
            The Gospel was by and through Jesus Christ, His life, death and resurrection.

            In the Greek tongue, Gospel is = euaggelion, and its definition is:
            “a reward for good tidings,
            good tidings,
            the glad tidings of the kingdom of God soon to be set up, and subsequently also of Jesus the Messiah, the founder of this kingdom. After the death of Christ, the term comprises also the preaching of (concerning) Jesus Christ as having suffered death on the cross to procure eternal salvation for the men in the kingdom of God, but as restored to life and exalted to the right hand of God in heaven, thence to return in majesty to consummate the kingdom of God;
            the glad tidings of salvation through Christ;
            the proclamation of the grace of God manifest and pledged in Christ;
            the gospel
            as the messianic rank of Jesus was proved by his words, his deeds, and his death, the narrative of the sayings, deeds, and death of Jesus Christ came to be called the gospel or glad tidings.”

          • James Staten

            So JC that’s basically what you would tell Snottly, Carl etc.etc? It has become clear to me that for some reason you have this tendency to avoid the Apostle Paul, but you are like most in this age in which we live.. So help me other than a chuckle I will not respond to you again. Let me state this and I will be done. Paul literally wrote half our NT. Paul says that Jesus is the Foundation, but he is the Master Builder. Paul says that he is our Pattern, and that we are to follow him as he follows Christ. Paul is the only writer in Scripture to speak of the Body of Christ, which is the New Creation during this dispensation of Grace. The Body of Christ is to look to Paul for our doctrine during this dispensation, that’s why Paul declares the Gospel and the fact that every man will one day be judged by this Gospel. Paul says by “My Gospel”…I have said this before, but here we go again. The Risen Savior from glory several years after He ascended gave new information to the Apostle Paul. These are by Revelation from the Ascended Lord, and they are called Mysteries (secrets in the mind of the Lord until he chose to reveal them). This information had never been revealed before to any man, not even during the Lord’s earthly ministry. At one point the Lord carried Paul to the back side of the desert for almost three years, and gave him one on one tutoring. There are several of these mysteries, and two of these are this New Creation the Body of Christ, thus Paul addresses Three groups in 1 Corinthians 10:32 during this dispensation of Grace, and the second that I will mention is the Catching Away of the Body of Christ, which is our gathering unto Him in the Air. No offense, but there is a reason most don’t understand they neglect the Apostle Paul. JC, I have nothing else to say to you except read the Pauline Epistles… Keep Looking Up, Jimmy

          • JC Teecher

            I would tell anyone that sincerely wants help with understanding, but Snottly, Carl, and those like them, that could care less, I would not even get into the Apostle Paul’s teachings of which you disagree with, although you make bold statement s that you do agree, and follow.

            You pick and choose what you want to agree with, other wise you would take his word on the “any moment” rapture doctrine/ gathering back to Christ.

            2Th 2:1
            Now we beseech you, brethren, by the coming of our Lord Jesus Christ, and by our gathering together unto him,
            2Th 2:3
            Let no man deceive you by any means: for that day shall not come, except there come a falling away first, and that man of sin be revealed, the son of perdition;

            it is as plain as the sun rising in the East, right from Paul’s teachings.
            That day of gathering back to Christ will “NOT” come until after Antichrist aka “son of perdition”, which means the one man by name, sentenced to die an eternal death in the Lake of Fire.
            Sorry you have to go off on some tangent about Pauline Epistles and some teachings that are important, but not as important as this teaching by Paul. Face it, as I have; you have been sent strong delusion to continue to believe the lies of man on the pre-trib. But that is another teaching by Paul that you choose to ignore.

            Have a good trip.

          • James Staten

            lol

  • socalbeachdude

    Gold Demand Trends First Quarter 2017 – World Gold Council

    Global gold demand in Q1 2017 was 1,034.5t, 18% below the exceptional Q1 2016, which was the strongest ever first quarter. Solid inflows into ETFs were nevertheless a fraction of last year’s near-record inflows, and slower central bank demand also contributed to the year-on-year drop. Bar and coin investment, however, was healthy at 289.8t (+9% yoy), while demand firmed slightly in both the jewellery and technology sectors.

    http://www.Gold.org

  • mtntrek3

    Yes, sadly its coming here too. Look to Almighty God for our way to eternal life.

    • socalbeachdude

      Many of us are not the least bit interested in the concept of “eternal life” as we are well are that DEAD IS DEAD, but rather are interested in attempting to solve the fiscal and political problems that exist in the world today in which we live, and it would be far better for you and everyone else if you would get aboard that bandwagon in ATTEMPTING TO ACTUALLY FIX PROBLEMS.

      • Paul Patriot

        Not being interested in “eternal life” is by far the biggest problem you are facing this day.

        If you focus too much of your time on the affairs oif this world, which the Bible spells out what is coming to planet earth, you, are exactly where Satan wants you…..distracted on temporal things, which ultimately, you have no real control over, and missing the opportunity to seek the Life which is in “the only name under heaven, given unto men in which they may be saved”, the name of Jesus.

        We have all sinned, and are under the judgement of a Holy God, that is why Jesus came, died, and was resurrected, to be a sacrifice for your and my sins, so that we can be reconciled to God and be saved from hell.

        There is nothing more important than this, because, if the Bible is true, the lies of ” DEAD IS DEAD” is a lie from the depths of hell, to keep you from seeking the the Savior, who promises that ALL will be resurrected on judgement day, and those whos names are NOT found in the Lambs book of life, (those who are not “born again” will be cast into hell)

        These are not my words or thoughts, but those of Jesus and thee Bible.

        Either the Bible is correct or it is not.

        I encourage you to spend some time seeking the things that will impact the future of your soul.

        Praying for you.

        • socalbeachdude

          What utter nonsense. There is no such thing at all as “eternal life.” When YOU DIE YOU DIE. Period. And your body rots and there is nothing left at all. Get a clue, dude, and start living in actual REALITY. Jesus of Nazareth is merely a notion of the Christian religion which is rejected b 77% of the world’s population of 7.5 billion people including those of us who embrace the Jewish religion.

          • Jazz

            Many have seen ghosts/spirits which have existed throughout history. How do ghosts/spirits exist if there is no afterlife? Do yourself a favor and go see The Case for Christ movie. Keep an open mind. If one atheist can take a factual look at the evidence and come to one and only one conclusion you too can do the same. Your eternity depends on it!

          • Carl

            The human eye cannot see the worlds that exist around them. The energies from these beings can sometimes penetrate the veil of our world and manifest supernatural activity.

            There are some humans who are so full of negative energy and sometimes positive (this is more rare) that when their physical bodies die this energy takes decade sometimes to burn off and exists where their physical presence once did.

            Some people are able to pick up on this energy because they may have the same signature energy associated with said residual energy and thus the two energies feed off each other.

          • Jazz

            Lol. The extremes some people go to so they don’t have to confront the reality that God exists and their will be eternal consequences. What if I’m right?

          • socalbeachdude

            Nope. And I’d suggest you end your stock pumperism delusions also, dude or dudette.

          • socalbeachdude

            I’d suggest you get professional mental help.

          • Jazz

            Says the fool who cuts and pastes on an economic blog all day. Do you do this on your break from the fast food establishment you work at or did you get fired again?

          • socalbeachdude

            Why make such endless bogus and totally false and stupid assertions?

          • socalbeachdude

            Are you really THAT CLUELESS, dude?

        • Carl

          The bible as with all religions has lied to people for many generation and will continue to do so at least in mine and your lifetimes.

          While the physical body of all human beings on this planet does in fact die, it is our spirit that lives after the flesh and blood is gone.

          Some say we reincarnate back to earth in another physical body after this happens (it was even in your very own bible before it was taken out).

          While others say you may reincarnate into a different plane of existence (as there are many).

          I even have issue with reincarnation if this is in fact what happens to us. It all seems so pointless and just more of the same ole same ole if you will.

          Christians brag about god the creator of this world, but to me this world is nothing to brag about. The creation a sub par example of what a creation could be. Everything here on earth is struggling to survive man, animal and plant.

          The concept of sin being the reason for it all is ridiculous on so many levels.

          Most would not dare argue that this place was made exactly as god intended.

          Instead the victims if you will are blamed for the way things are – which is ironic because many victims of crimes in our society are blamed for the bad things that happen to them.

          • JC Teecher

            Carl, if you keep up with your anti-god message, and will not accept and believe, you sure as hell will not have to worry about reincarnation, for you have a one way ticket. Do you want your ticket punched for the Lake of Fire?
            To be snuffed out for eternity?
            To never feel loved or cared about?
            To have never existed?
            To be gone from the earth and animals you say you care so much about?

          • Carl

            I already told you teech I don’t care about being snuffed out for all eternity or jumping head first into a lake of fire.

            Existence is a state of mind. People die every day but life goes on and no one stops living. Except grieving family for a time.

            One day we will all be gone from this earth so that is something none of us can escape from.

          • JC Teecher

            Bull Caca! You may be gone, but my Saviour is coming here to Reign Supreme over the KIngdom, sitting on the Throne in the midst of the Millennial Temple, on the Mount in Jerusalem.
            On each side are the remnant of each tribe of Israel, from which I am one.
            Narrow is the gate to eternity, and few enter.
            Wide is the path to destruction and many/most will take it instead.
            You seem to like the wide and easier walking path, so have a good trip. For you will trip and fall before all this life is over, because you are setting up stumbling blocks before yourself everyday you go against your Creator, Carl.

          • socalbeachdude

            Exactly.

          • Jazz

            It is called “free will”. What God created is amazing and worthy of adoration. It is man/sin that destroyed much of the beauty that He created. Could he have changed that? Absolutely but then we would be puppets with no choice in the matter. Read the book of Genesis and John for many of life’s answers.

          • Carl

            Nonsense. How does free will work for an infant or a child? They are dependent on adults for many years before they are actually able to exercise said free will.

            Plus there is NO free will mentioned anywhere in your bible.

            Free will is just an excuse people make to brush aside the nagging thought that maybe god really messed up or is really messed up – depending on your perception of things.

            As I have said before the puppet comment is ridiculous on it’s head because the book of revelation makes all the saved puppets in the end. You know with the whole notion of a the new heaven and earth where there is no sin.

            But let’s ignore that or make up more excuses for what is the bible’s final conclusion.

            And as I have said before if god’s end game is this new heaven and earth, why not start with that from the beginning? Why allow this game to go on and on? To what end?

          • Jazz

            We are born with sin in our hearts and yes babies and children also have free will. Kids make good and bad choices like us adults. Adam and Eve give the first example of free will (disobeying God’s commands). There are many many examples of free will. It may not say those words exactly but the meaning is there if you actually read and believe. Carl your life is short and you may not have a tomorrow. He is drawing you toward Him. He gives us the choice to love him or deny him. Your eternity depends on that choice. Will you be with him or against him? Go see the Case for Christ. It will be eye opening for you.

          • Carl

            Again more nonsense. First of all children are at the mercy of the adults in their lives. So depending on the birth canal you exit your life may be heaven or a living hell.

            The adam and eve story is fake. But even if it was real why put a tree in the garden to tempt? How could a perfect creation (gods words not mine) even disobey if this was not put into our personalities if you will by God himself – which he supposedly increased upon after the disobedience.

          • Jerry C

            Here is an interesting article on what may be the tree of good & evil in the Garden of Eden you may like to read. http://worldeventsandthebible.com/2013/10/the-garden-of-eden-origins-of-satans.html

          • GSOB

            ……………” How could a perfect creation (gods words not mine) even disobey “………..
            Actually, your words, not His. God says about His creative work is
            ‘very good’, not perfect as you say.
            Only God Himself is perfect. The creaturely obedience due Him is what Adam denied to Him.
            That is why Christ, as the last Adam, is the Author and Perfector of the Faith.
            Sinners are made perfect in Jesus Christ because the Spirit works in them the righteousness of Christ, as they discipline themselves to the obedience of faith with the doctrine they have heard and learned to be true, thus the cycle continues – the Lord builds His organic dwelling place, by His Spirit – this is the Church, God’s masterpiece!

          • Carl

            You are right it does not say god was perfect anywhere in the bible. It is only humans adding their own spin on things that make this statement.

            However, since you state the god in your mind is perfect then it would be impossible for a perfect creator to create an imperfect creation.

            Not to mention gods disappointment in his creation when they go against his command.

            So we now know that god is:

            1. god is imperfect because he created imperfect human beings.

            2. god is not omniscient because he did not know that adam and eve would eat from the fruit – if he did know there would be no need for the disappointment would there?

            3. that the new heaven and earth many are hoping for will also be an imperfect place and a reflection of their creator and what exactly he is imperfect.

          • socalbeachdude

            Laughably false.

          • socalbeachdude

            Nope.

          • socalbeachdude

            Correct, Carl.

      • mtntrek3

        Oh, but there is an eternity…… a Heaven to gain, and a Hell to shun. As I said earlier, if the majority of people were to follow Christ in this temporal world, there would be much less cheating and stealing for starters. Fairness in wages and in all things would increase as well.

  • disqus_Nf0dGsyO7j

    All Politicians who borrowed money and signed their name on the loans need to be prosecuted and jailed. Enough of this irresponsible behavior, somebody has to answer for the fiscal terrorism. The same thing happened in Greece, the politicians borrowed and borrowed and along the way they got rich. And when their terms ended they were only too glad to retire. The poor people are left with the loans to pay for the next 100 generations.

    • socalbeachdude

      The majority of the American people DEMANDED THAT THEIR POLITICIANS DO JUST THAT and will simply have to pay the price for their demands to live far beyond their means. Simple as that.

  • mtntrek3

    The affluent ….. the ones in power positions control what’s left of our nation and the world. We the people of nations around the world are drowned out by the powers that be. Nothing wrong with having money btw…… its what we do with it/ or don’t do with it. Ethics/morals are mostly cast by the wayside. Therein is the problem. Lying, stealing and cheating along with disregarding the unborn….. the less fortunate etc. are our downfall. We’ve disregarded our instruction book, God’s will in our lives. Overall God says we as a whole as mankind will continue in a downward fashion. Please seek to be in the exception and accept Jesus as your Savior. Please. Take care all. Chris.

    • socalbeachdude

      Only 23% of the world’s population of 7.5+ billion people have any interest in the Christian religion and even if more did that is certainly not in any way a solution to the political and economic problems facing the world today.

      • mtntrek3

        If the majority of the people in the world were to accept Christ as their Savior….. there would be much more fairness, much less cheating/stealing for starters.

  • Cal

    The Rapture is imminent. When it happens…worldwide economic chaos ensues, the emergence of a global governance led by the AC and the mark to buy and sell. Also the covenant Israel will agree to, the status of Jerusalem and the rebuilt temple will electrify the world. Avoid the coming global disaster…call on the name of the Lord to save you and Jesus Christ will save you.

    • JC Teecher

      I won’t bother you with repetitive scripture that disproves the pre-trib rapture, but I am wondering where you find anything about a rebuilt Temple in Jerusalem, before the land is cleansed. It can’t be cleansed until the battle of Armageddon is complete, just after Christ returns.
      The only Temple being built, not “rebuilt”, is in Ezekiel where God Almighty gives the instructions for a Millennial Temple. Please help me with this because in all my intense studies for the past fifteen years, i have not been able to find it written, about a so-called rebuildiing, much less how the Mohammadans will ever give up control over the Temple Mount, that they think is rightfully theirs.
      ????

      • James Staten

        Let us say there are numerous verses that disprove the Pre-Trib Rapture, besides your verse in Matthew 24, which at this moment I really don’t feel like explaining. What other verse or verses prove there is no Pre-Trib Rapture?

        • JC Teecher

          Go back and re-read my archived reply to Richard Mann and yourself. from about two weeks ago.
          It is not my words that deny the pre-trib, but Christ’s In Matthew 24, God’s own voice thru Ezekiel in Chap 13: 18-20. and again thru Paul, in 2 Thess 2: 1-4.

          There are dozens more scriptures to support the truth of Satan coming as the false messiah, deceiving the world, at the 6th trump, and then, not secretly hiding in clouds as fake preachers say, and only then, at the 7th trump, after the fake sits in Jerusalem claiming to be God, does Christ come back.
          No where in the scriptures does Jehovah, Yeshua, or any of their prophets say that Christ is coming to rapture a church people, and take them away, only to return 7 years later…NO where!

          In fact, Christ, after seeing how difficult it was to defeat the power of the flesh, in the flesh, he “shortened’ the days/years/time of tribulation of Antichrist.
          Why is this not taught by the pre-trib establishment cultist religionists?
          Why do we never hear about the shortening of the days? Because, it defies the narrative they have been teaching and seducing people with for the past 100 years or more. It denounces their 7 years of tribulation during which all Believers are taken from the earth.

          They are taken alright, taken in by the lie, and that, jimmy, will be the mark, they, the followers of the spurious messiah, will receive in their foreheads aka brains/minds, and their right hands, as in working hands doing the works of the Antichrist and proliferating his message, to be on board/worship him, and he will fly you away to safety.
          They say “peace and safety, but then sudden destruction cometh”, as they, the deceived will go down in flames with the fake.
          You can splash all the false accusations about me if you like, being ignorant and knowing nothing about Eschatology, but God’s Word does the speaking without adding any of my own words, and with the help of the Holy Spirit, I do repeat and help translate the message.

          • James Staten

            You commingle much with your many words!!!!

          • JC Teecher

            It’s just that you can’t comprehend, because you have not eyes to see nor ears to hear. Go in Peace.

          • James Staten

            i just wrote this on another reply, but the Catching Away of the Body of Christ is a secondary issue. If Snottly, Carl etc etc ask you what is your definition of the Gospel? Just wondering.

          • Carl

            So much disagreement about a man written and man centered book. If it is the best that god could come up with, it explains a lot about why mankind in generally is such a mess.

          • GSOB

            Matthew 10:33
            Mark 8:37
            Romans 1:16

          • Carl

            Matthew not written by the apostle Matthew referred to as levi.

            Mark was used as a template for matthew and luke and was not written by an actual apostle either.

            Romans written by paul well actually his scribe tertius (most scribes were given leeway to embellish and enhance if you will the authors intent). Also paul was NOT an apostle so we can throw that one out also.

          • socalbeachdude

            Correct again, Carl.

          • GSOB

            Lifting you up too.

          • GSOB

            Your erroneous opinion contradicts Scripture.
            I agree with Scripture.
            Isn’t that though the rub?

            What I mean is, …. I believe in the Word and you don’t…

            It is your unbelief in the Son of God, the One whom the Father has sent, that binds you to the law of sin and of death.

            There is freedom to be had only in Jesus Christ.

            Until you are born in Him again,
            you will die in your sin.

            I’ll be lifting you up.

          • James Staten

            I declare unto you the Gospel, by which every man will one day be judged. 1 Corinthians 15:1-4

          • Carl

            The fake apostle paul does not count and he was referring to the church of corinth NOT the entire world (if you really want to get technical about it).

          • James Staten

            Well, At least you have been told.

          • socalbeachdude

            Indeed, Carl, and its gets very tiring to see people who can’t focus on actual facts and issues arguing about religious trivialities which have nothing to do with anything in the USA.

          • GSOB

            Christ is God incarnated.

          • socalbeachdude

            Only in your “mind.”

          • GSOB

            In His mind and in His word.
            Your problem is with Him and His truth.

          • socalbeachdude

            I don’t have a problem focusing on what matters, but you obviously have a huge problem in that regard. Jewish folks and most of the rest of the world have no interest at all in your “Christian beliefs” and they are totally IRRELEVANT here in relationship to the topic which is the insolvency of Puerto Rico. This is not amateur hour at your local Sunday school class.

          • GSOB

            Divinity mingled with humanity…= the new Creation. Why go back to Judaism and temple building & worship? He who is joined to the Lord is one Spirit with Him.
            Move along now, don’t go back to physical temples made by human hands…
            Romans 11:15

          • James Staten

            and that is described by the Apostle Paul about this New Creation…the Body of Christ during this dispensation of Grace.

          • GSOB

            Yes. However, there is no going back to the OT economy.

            We are in the zenith of Grace in the NT. Grace was in the OT but did not perfect anything for once and for all.

            The switching out from the OT to the NT economy in Revelation, fulfilled in A.D 70, summarizes the shift, with His judgment…..
            the NT economy, which produces the Kingdom people, is without end, but increases as reality with each passing day.

            The world is the field.

            Isaiah 9:6

          • James Staten

            Actually, I am not talking about the OT, but regardless, the Jews are going to have another Temple. Everything is prepared, and by all indications, it will be soon? I am looking for something to happen first!!!!

          • GSOB

            The unregenerate may build another temple…. but it is not necessary now,….
            is it?

            Where do you find a third temple in the bible?

            It is not there.

            Believers are the temple of God. Always will be. In the NT economy, there is no temple like in the OT. Why build a lifeless building? To contain God? He wants to dwell with us and IN us. He wants to be our everything.

            Why is that not good enough for you?. It is for Him.

            You can’t better or do better than that.

            We need life, not a abuilding with a cross on it.

            Why would you want to go back to anything that is less?

            Satan wants no one feeding and growing Christ within,….. our old man, though crucified – seeks to come down from the cross, but without death – there is no resurrection life in us to experience. That experience is Christ!

          • James Staten

            Point and click to Daniel and Paul for your answer.

          • GSOB

            Please do it for me…. tell what verses contradicts God’s NT economy in Christ?

          • James Staten

            Proverbs 25:2

          • GSOB

            Christ is greater than Soloman

          • James Staten

            gsob…please go and explain to JC that 7 Bibles before the KJV rendered the word apostasy as the “THE” departure. My understanding is that the article “THE” makes it a specific departure. One of the better Greek Scholars of the 20th century, Kenneth Wuest understood this word to be physical movement, such as getting on a bus and going from Point A to Point B. In truth the Falling Away has been going on since the Lord Jesus ascended to Heaven. Hope this helps you and him? (Short Version)

          • socalbeachdude

            What utter nonsense.

          • JC Teecher

            “Read my lips”….”no -ew taxes”…lol
            Sorry I could not help myself, I meant “temple”.
            I can’t find any jewish temple being rebuilt, except there is the temple coming after Christ, for the Millennium.
            In fact we are told :

            2Th 2:4
            Who opposeth and exalteth himself above all that is called God, or that is worshipped; so that he as God sitteth in the temple of God, shewing himself that he is God.

            This is the abomination by the desolator, whereby he defiles the Temple Mount, and the place that has been “trodden down by the Gentiles” aka Muslims, which has lead to previous defiling.

            Why would a new/rebuilt Temple be built, when Christ said these words after a disciple asked Him:

            Mar 13:1

            And as he went out of the temple, one of his disciples saith unto him, Master, see what manner of stones and what buildings are here!
            Mar 13: 2
            And Jesus answering said unto him, Seest thou these great buildings? there shall not be left one stone upon another, that shall not be thrown down.

            Now I have seen the documented footage from underground the Temple Mount of the Western Wall, which was built by Solomon. there rest massive hewn stones of tens of thousands of tons, one upon the other, still intact till this day. In Christ’s own words, those stones will be brought down before the land is cleansed and another Temple is allowed to be built, and that is after Christ’s return, and after the Mega Earthquake that swallows up the defiled stones and buildings of the Muslims.

            Man has been teaching the lies of a new Temple being built, so it fits their narrative of returning to animal sacrifices, so it can be taken away by the Antichrist…more Bull.

            Putting a halt to daily sacrifices has nothing to do with animal sacrifices. it has everything to do with communion done in the name of Christ, of which Antichrist will try to stop on a worldly scale. he can’t stop what people do in the privacy of their homes, but he will be able to stop most churches from continuing the practice.
            Just saying’ jimmy. you need to get away from the faux religionist doctrines, which are nothing more than cults by another color.
            Popularity doesn’t mean that it is truth.

          • James Staten

            lol..at you and gsob

          • JC Teecher

            At least you are able to laugh now, and for the next decade or so, but after that, jimmy, it will be crying when you see the first (spurious) messiah come upon the earth with his band of (unholy) angels, and the pre-tribbers line up in droves to follow him into the pit of deception.

            You will be crying because you were told but you refused Paul’s teachings on the matter, but worst of all, you refused the direct Words of your Heavenly Father, and Saviour.
            You will see that their Words of truth should have been more important to you than your little security blanket “escapism” deception by establishment cultist teachers. But; for whatever reason you chose not to follow the scriptures on it, but rather a “twisting” of the scriptures to fit a false narrative.

            How sad, that millions, of self-proclaimed christians, will fall right in line with the first to come, claiming to be Christ, because they chose to follow man’s lies, and not the truth in God’s Word.

          • James Staten

            Actually last night it dawned on me that I shouldn’t laugh at you and gsob. I should feel sorrow, because you don’t get it. I just sent gsob a reply to please explain to you that apostasy in 2 Thess. was rendered as “THE” departure in “7” Bibles before the KJV used the other meaning for this word as the Falling Away. The article “THE” makes this departure specific, whereas the Falling Away has happened since the Lord Jesus ascended to Heaven..Kenneth Wuest, one of the better Greek Scholars of the 20th says this word expresses physical movement as in getting on a bus and going from Point A to Point B..Read 1st Thessalonians to understand 2 Thessalonians..Jimmy says “Read the Pauline Epistles” Short Version

          • JC Teecher

            Even though you can’t see truth in the KJV, because God has placed you in a position of slumber (stupor), I will never respond to you about any of your beliefs again, and respectfully ask that you do the same towards me.
            Don’t waste your energy feeling sorrow or anything towards me, as my soul is in fine shape and looking forward to the non event of the pre-trib rapture, as that event is the coming of the False Messiah / Satan, and will then be the proof that the pre-trib cults need to grab hold of their destiny to follow delusion.
            Good luck on that dreaming of a Magic Carpet ride, because dreaming of it is as close as you’ll get.

          • James Staten

            I agree to that, after I say that the KJV has no equal, and by the grace of God, I see much of it’s Truth.

        • GSOB

          Mark 9:1
          We’ve been in Christ’s Kingdom for quite sometime now.

          • James Staten

            gsob…JC is waiting for your class. So you both can each exchange notes!!!!

          • JC Teecher

            If I were to follow anything from gsob’s class, I would be backing up, and making a mockery of the unctions by the Holy Spirit.

          • GSOB

            Not true, and even in the best optimal circumstance… each one has.
            1 Corinthians 14:26

            A prerequisite is required…first examine yourself ……
            to see if Christ is actually IN you. If He is, then the foundation has already been laid, just be careful how you build upon that foundation…..
            …………..
            gold silver precious stones, wood, grass and stubble…
            for the day will reveal of what sort it is…
            Christ is the centrality and universality of God’s NT economy….. Our God justifies the un-Godly.

          • GSOB

            I’ll school both of you, Lord willing….

          • James Staten

            Like I have said before, “You are the best point and click Scripture person, that I have ever seen”.

          • GSOB

            Thank You. I have been called a parrot also, and much worse.

          • James Staten

            Yep, GV has called me the same.

          • socalbeachdude

            Only in your phantasmagorical mind, dude.

    • Zlatko Milanovic

      First of all:
      Matthew 24:36King James Version (KJV)

      36 But of that day and hour knoweth no man, no, not the angels of heaven, but my Father only.
      Secondly, the rapture was invented by a guy named John Darby, it was never an accepted idea by the historic church or the Apostles. It only came along in the 1830s. Read about it, it’s just history.

    • GSOB

      Most of the prophecies of Revelation are fulfilled

      • socalbeachdude

        None of that fantasy nonsense is at all.

        • GSOB

          Your life is but a vapor

          • socalbeachdude

            Hardly, but that might just describe YOU.

          • GSOB

            It once did.
            But I have been baptized into Christ’s death.
            I have the gift of eternal life purchased for me, along with the full atonement for all my sins. I want you to have that gift, before you dissipate….
            Please read….
            James 4:13-15

          • socalbeachdude

            There is no such thing as “eternal life” at all. When you’re DEAD YOU’RE DEAD.

          • GSOB

            Christ rose from the dead

          • socalbeachdude

            Laughably false.

          • GSOB

            He lives in me and the Bible says so.

          • socalbeachdude

            Then I’d suggest you get some professional help for that problem of yours.

          • GSOB

            Christ is the great physician

          • socalbeachdude

            “Christ” is just a dead Jewish dude.

          • GSOB

            You do have an appointment with Him.

          • socalbeachdude

            Get a clue due. Jesus of Nazareth has been dead for about 2000 years. Helllo?

          • Paul Patriot

            False on all accounts. The resurrection of Jesus documented, and validated event .

            The Church was founded on the resurrection, and disproving it would have destroyed the whole Christian movement However, instead of any such disproof, throughout the first century, Christians were threatened, beaten, flogged and killed because of their faith. It would have been much simpler to have silenced them by producing Jesus’ body, but this was never done. It has been said, the silence of Christ’s enemies “is as eloquent a proof of the resurrection as the apostles’ witness.”

            If you are WILLING to roll back the many layers and proofs that vindicate the reality of the Risen Christ, you will find the Truth, and you will never be the same.

          • socalbeachdude

            Yes, all of YOUR assertions are FALSE not to mention TOTALLY IRRELEVANT to this discussion on the financial situation and debt mess of Puerto Rico.

          • Carl

            Not true. Apparently jesus’ tomb was left unguarded for a time so anything could have happened to said body.

            Kind of like the people who fake the yeti or sasquatch things today. Same idea for people to do the same back then.

          • Paul Patriot

            I encourage you to read ” evidence that demands a verdict” by ex- atheist Josh McDowell

          • socalbeachdude

            What utter nonsense.

          • GSOB

            Matthew 16:21

    • socalbeachdude

      Laughably false.

  • Centrist

    Who really cares about Puerto Rico? Thanks to Obama’s mostly successful polices the unemployment rate is down to 4.5%. Also the U.S has enjoyed over 80 straight months of private sector job growth. Obama deserves all the credit for turning around the economy. I wish Obama was granted a third term.

    • JC Teecher

      Yea right, as he sold out Americans to Middle Eastern Tyrants, for the coming Jihad, of which you may just get a big ol helping of cut throats in your backyard.
      I’d like to see your face and how much you worship the Odrama liberals then.

    • socalbeachdude

      Unemployment as fully measured in the USA is right now around 32% and Obama was the most catastrophically disastrous person to ever occupy the White House and deserves all the blame for the rapidly worsening economic collapse throughout the USA.

  • Jazz

    The PR debt situation and insider selling don’t mean much with a bubble based economy and market. I’ve been calling for Dow 25k and S&P 2500 for the past 2 years and getting close to being right. Bull markets end with a bang and we still have years left before this all blows up. Buy on dips, keep investing and saving. There is a small window of opportunity to ride the remaining waves up in this awesome historic bull market we have experienced these past 8+ years.

    • JC Teecher

      Yes, but the over-inflated price of those that are doing most of the climbing, are out of reach for the average investor.
      At $800,00 bucks a share, not too many shares being bought by the middleclass, for Alphabet and Amazon.

      • Jazz

        Buy high and sell higher. Blow off top is on its way!

    • socalbeachdude

      What utterly clueless nonsense.

      • Jazz

        Lol. You are clueless one with your endless drizzle.

        • socalbeachdude

          Hardly, but that sure does describe YOU.

        • socalbeachdude

          Hardly, but you sure do take the prize for cluelessness!!!

  • Zlatko Milanovic

    Not sure what their creditors expect to happen; the island is broke. They can’t sell the people into slavery, can’t starve them, can’t shut down the schools, can’t turn off the electricity and water. You can’t get blood from a turnip.
    Investments are risky, they took a risk and lost, sorry. That’s the marketplace. Time to take your loses and move on. Don’t buy anymore debt that probably can’t be repaid. The gov’t shouldn’t have to bail out investors who took a risk, and they won’t, so forget about it.

    • JC Teecher

      “Can’t get blood from a turnip”

      How true, but PR’s leaders sure tried. They taxed the people to death in every way possible, and the people said screw it. The people own about 30 billion of the debt. but with 42% of the population living below the poverty level and double digit un-employment, who is able to pay anything? none

      So they just filed bankruptcy two days ago to the tune of $123 billion.

      “Somebody’s got some splainin’ to do”
      (yea I know Ricky was Cuban, but close enough)
      Cause, somebody has lost a huge chunk of change on their bond debt.

      • Zlatko Milanovic

        I think they call that “vulture capitalism”; feeding on the dead bones of indebted entities. They shouldn’t be surprised the debts can’t be repaid.

      • socalbeachdude

        Puerto Rico CANNOT “file for bankruptcy” at all as there is no applicable provision at all to do that in the federal bankruptcy code.

  • dlewenz

    Productivity first QT down almost 1 % .06 completely blind sided everyone.

    • socalbeachdude

      Just as expected and predicted by many.

  • DB200

    “I warned about a looming financial cataclysm in Puerto Rico nearly two years ago, but they somehow managed to hang on until now.”
    Yes you did. Just like you I am amazed how long it took before it came crashing down. Given the resilience of the system, it may take well another 5-10 years before this happens to the USA (ceteris paribus i.e. when everything stays the same)

    • JC Teecher

      It had already collapsed to a point of no return in 2015, but they held off on filing for Bankruptcy protection because of the delusional thinking that they were going to get a full bail out like the banks and automakers back in 08/09.
      They kept issuing debt bonds for pennies on the dollar, and junk bond traders & hedge fund brokers kept finding suckers (politicians)to pour $$ into buying up large chunks of paper, in hopes of making 1000% profits off the backs of taxpayers, with a bailout.
      When it was evident that Odrama wasn’t going along, and playing into the hands of the elite politicians and Wall street, they had one hope left. That hope was of course the two best manipulators, and liars, and thiefs, to ever sit in the White house, to sit there again.

      When that hope failed, they knew it was never gonna happen with Trump, so they were left with only one option…sue the leadership of Puerto R I C O = Racketeering Influenced Corruption Organization.
      PR had no choice but to file for Bankruptcy Protection, as Odrama had already squelched their request in May 2016, to hold the country’s gov un-liable, from lawsuits.

      They now get some protection, but not like what is provided under a US Chapter 9 proceeding, for states.

      • socalbeachdude

        States and Territories of the US are NOT ELIGIBLE FOR BANKRUPTCY PROTECTION under the federal bankruptcy laws.

  • Carl

    Puerto Rico is a territory of the USA not a state. They are US citizens but many Americans are probably not even aware of that fact. Their are many websites dedicated to trying to make Puerto Rico the 51st state but a state it is not.

    • HeyAHuman

      That’s why “51st U.S. State” is in quotes…

      • Carl

        How many people caught the quotes in the title? Probably not many.

        • Jerry C

          Probably all of us that come here, but we get bored of having to point out everything to stupid people. Carry on.

    • socalbeachdude

      They might just as well be a state for all practical purposes as the residents there are eligible for all US government benefits including Social Security, Medicare, Medicaid, and welfare programs and they can travel just as freely in the United States as citizens from all states.

      • Carl

        True dat.

      • gfmucci

        Yup! A liberal Puerto Rican was living next door to me 30 years ago and was bragging how Puerto Rico got all the benefits of statehood and only a fraction of the taxes. See where this has gotten them? His brag was disgusting then and is disgusting today. I HOPE no one bails them out – after decades of living on the dole.

      • max gon

        The problem is that the US congress will never allow P.R. to become a state.

        • socalbeachdude

          Why is that a “problem?”

  • LIZ THE SHIZ

    “everything free in America”, what it’s all you need to know about Puerto Rico in West Side Story

    • socalbeachdude

      Huh?

      • gfmucci

        That’s a lyric from one of the songs in West Side Story – portraying New York City street gangs newly immigrated from Puerto Rico rejoicing that “everything free in A-mer’-i-ca.” That has been the Puerto Rican motto for the past 60 years which has brought them to this point.

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    Trump says Obamacare is ‘DEAD’ after vote in Congress to repeal and replace health insurance law, as key Republicans surround him for Rose Garden victory lap

    President Donald Trump said Thursday that Obamacare is ‘dead,’ celebrating with Republican leaders from the House of Representatives after they squeaked out a close vote to replace the sputtering seven-year-old insurance law.

    Congressional Republicans put Obamacare’s first foot in the grave on Thursday, passing a repeal-and-replace measure by the thinnest of margins as Democratic lawmakers taunted them with a chorus of ‘Na-na, Hey-hey, Goodbye!’ President Barack Obama’s namesake law is on its way to the dustbin. But so too, the Dems hope, will be the GOP majority after next year’s midterm congressional elections.

    In a hastily called vote following the adoption of a controversial amendment allowing some states to seek exemptions from coverage mandates, a 217-213 tally sent the American Health Care Act to the U.S. Senate, where even more changes are expected.

    http://www.dailymail.co.uk/news/article-4474520/Health-care-bill-passes-House-Representatives.html

    • gfmucci

      But can anyone tell me what’s in the new bill? What is significantly different between the two?

      • socalbeachdude

        Indeed, and this reminds me of Nancy Pelousy’s famous quote, “You’ll have to find out by reading it after we pass it” or something to that effect!

      • JC Teecher

        They say it completely does away with the tax mandate bestowed upon all who choose not to participate, as well as the employer mandates, which severely hurts small to medium businesses.
        Then there is the part about gov taking in the individual mandates fees/taxes, and switching that to individuals that are on the gov subsidized plan, but then decide they just don’t want it anymore, there is a penalty portion for signing back on, but the gov does not collect it, as it is left up to the Insurance Companies to collect.

        The haters of the plan and liberals say that this is just subsidizing the insurance Companies in a roundabout way, but that is just not true.
        It isn’t a perfect replacement, but it is a start.
        I haven’t read it but these are just some points that have been thrown around about it.

        • socalbeachdude

          Medical expense insurance companies WILL NOT PARTICIPATE AT ALL in this nonsense unless they can do PROPER UNDERWRITING and eliminate GUARANTEED LOSSES such as people with pre-existing conditions. The lack of proper sound and reasonable underwriting is what is causing the TOTAL FAILURE OF OBAMASCARE and violates all principles of insurance which are based on the RISK OF LOSS.

  • A.S.

    so does that mean that the u.s. govt needs to bail them out? is that why the u.s. dollar has been falling?

    • socalbeachdude

      The US dollar is holding right around 100 on the DXY and is only down slightly from that.

  • pulltheweeds

    Does this mean the price of chicken will go up ?

    • socalbeachdude

      No, and the price of chicken and eggs are going down. I bought 18 eggs at Ralphs this week here in SoCal for $1.49 which is 99 cents a dozen or slightly more than 8 cents per egg.

  • Carl

    In other news trumpcare passed the house. Now onto the senate. We can only imagine what “gifts” trump will bestow on senators to get this debacle passed.

    According to Ellen Moss of CNBN, “it was chaos on the house floor when democrats realized that the republicans were going to get the votes needed to pass the revised health care bill.

    Apparently Nancy Pelosi and Steny Hoyer were prepared for this and with a snap and a cackle carts of booze and cake appeared as if from thin air.”

    As the democrats dined and drank on the house floor things turned ugly when some house Republicans demanded access to the drinks and food. Some responded by throwing cake at the republicans and a food fight quickly ensued.

    “There was cake everywhere,” said one house Republican who asked that his name not be revealed. “I mean they wouldn’t even share,” he said, shaking his head. “Who wastes cake like that?”

    Republicans added a new amendment to the newly passed trumpcare by establishing the he-man democrat haters club. Where they would eat cake and get drunk and no democrats would be allowed in.

    “We didn’t want it to come to this,” said Paul Ryan, speaker of the House. “But they gave us no choice. Not sharing cake, OK I can see that, but the booze? That was the last straw.”

    Watch for the video later tonight.

  • socalbeachdude

    Apple could be BANNED from importing iPhones into the US in royalty battle with Qualcomm

    In its ongoing battle with Apple, Qualcomm could soon seek a ban on iPhones being imported to the US from Asia just months before the highly anticipated iPhone 8 is set to be released.

    http://www.dailymail.co.uk/sciencetech/article-4474488/Qualcomm-threatens-Apple-iPhone-ban-US.html

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    Commodities are falling like a rock thrown over the edge of the Grand Canyon today including preposterously elevated stuff like gold and silver which respectively plummeted more than $10 per ounce again today and is now down to $1229 and 15 cents for silver which is now down to $16.30. Oil also plunged again today as did nearly all metals and other commodities.

  • GSOB

    When all those of us who are Christians here at this site finally meet each other in the consummation of the restoration,…

    we will high five each other…

    Praise the Lord!

    • socalbeachdude

      Why is it apparently so impossible for you to focus on the topic of the article and the current political and economic issues? Why do you keep going and and on about your own personal religious beliefs which are TOTALLY IRRELEVANT to most all people in the world? Less than 23% of the world’s population of 7.5+ billion people have any interest at all in the Christian religion including all of the folks who are Jewish and it is ridiculous how you just keep endlessly attempting to proselytize your own religion when it is irrelevant and of no interest to most folks.

    • James Staten

      Yep,We can fight amongst ourselves, but we can’t stay mad!!!! It’s family infighting… Praise the Lord…PS..It’s probably the smartest thing I have ever heard you say!!! chuckle, chuckle

    • socalbeachdude

      When you die you die and are dead, dude.

      • Paul Patriot

        The Bible disagrees with that assertion.

        • socalbeachdude

          Only that part that was added to the original Bible and which is called the New Testament which is totally rejected by people of the Jewish faith.

          • GSOB

            Genesis 3:15

          • GSOB

            Then you are in bad company.

          • socalbeachdude

            Hardly, the people of the Jewish faith largely run the financial world because they are the best and brightest. Get a clue.

          • Carl

            Exactly. If christians of today could go back into the past they would be quite shocked at how they were duped by their ancestors regarding their jesus, religion and it would change everything.

          • JC Teecher

            Yes it would be different, but the duped part is in the here and now, by an “any moment, fly away, rapture” doctrine.
            There will be a change, for everyone, and people can call it a rapture if it makes them feel good, however; the biblical truth of the matter is that “all” will be changed in the twinkling of an eye, at the “last” trumpet sound, the seventh, and forever be with the Lord. The Lord is staying here when he comes back, to rule and reign over the Kingdom here at the Temple in Jerusalem.
            There will be no more flesh when He returns, all will change into Spirit bodies…even the animals will change and the lion will feed with the lamb, instead of feeding on the lamb.

            No carnivores in Eternity, No religion in the Eternity, No liberals/atheist/deist or rapture crapture preachers.
            So, in case you give up the ghost before I see your post again, so long Carl, I can’t say it has been nice knowing you, cause your very existence will be erased entirely, and all your pizzing and moaning has been for naught, along with all your mother’s pain and agony of birthing and raising, your sorry azz.

    • Carl

      You would not high five each other because said high fiveing you would would be engaging in is a product of the ego. Which if you were in heaven would not exist. Thus no high fives because you made it will be given in heaven.

      And what would you be making it to exactly? An eternity of praising god and…there will be no creating. no doing.

      Since christians believe that they are a creation and are unable to create they will be slaves. Only now it is for eternity.

      Now if you go with my theory that we are all the creator and are consciousness trapped in the physical realm at least you would have a purpose in life. To reincarnate (though I am not sure if we even get a choice in this one since we may be trapped in an endless cycle of this right now). But if we could avoid the reincarnation trap we could be free to create new worlds. To create anything your consciousness desires would be an excellent way to spend eternity.

      • JC Teecher

        I would rather be a slave to a loving Father, and Lord, than frying and sizzling like a slab of bacon in a scorching iron skillet.

        • Carl

          Which loving father are you referring to? The jealous, angry, genocidal one? I see no acts of love in any of that. So I question exactly what you will be a slave too.

          Your loving father created evil. All the suffering on this earth is because of him. So I would be careful with what you wish for. You may find it is not all sunshine and rainbows and may in fact be the hell you are gleefully wanting unbelievers to go to.

          First of all there is no sizzling for all eternity and no lake. But I will humor you because if I have to get thrown in this imaginary lake so be it. At least I will be finally gone and to that I say Amen!

  • socalbeachdude
    • Zlatko Milanovic

      I hope you’re right…

  • Bruce

    The problems they are facing now is headed our way as well. One day retirement benefits will be gone be they private, state or U.S.. Most retirement systems have invested in the stock market. When that goes boom well guess what so does retirement systems. In fact, that will one of the first signs it is truly over. The next thing will be Social Security. At that point we will have total anarchy and chaos on the streets. For the most part it won’t be grandma Sybil or uncle Fred causing the chaos because they are too old and feeble. But, it will be their children and nephews etc that see the destitution of their loved ones. It’s coming folks without question, reservation or doubt, It’s coming!
    Now comes the big question, When? NO ONE knows certainly not me. However, I will guess and say within 6 years. Maybe this year but, within 6 years!

    • socalbeachdude

      Absolutely correct, Bruce.

    • Zlatko Milanovic

      You may be right, but the elites will restructure the system when that happens. I suggest reading “The Road to Ruin” by Jim Rickards, it discusses such scenarios.

  • socalbeachdude

    Puerto Rico to close more than 180 schools leaving 27,000 pupils in limbo, with the island’s low birth rate and economic crisis blamed for cull as thousands move to US mainland

    It is the largest mass closure of schools ever announced in the history of the US territory. Education Secretary Julia Keleher will ‘soon’ provide more details about the closures.

    http://www.dailymail.co.uk/news/article-4477746/Puerto-Rico-close-180-schools.html

  • Alvin A. Almodóvar

    I hereby remind you the following:

    CONSTITUTION OF THE UNITED STATES

    ARTICLE IV

    SECTION 3. …

    The Congress shall have Power to dispose of and make all needful Rules and Regulations respecting the Territory or other Property belonging to the United States; and nothing in this Constitution shall be so construed as to Prejudice any Claims of the United States, or of any particular State.

  • tacoma

    Better late than never so here’s my late take:

    We all know Puerto Rico has filed for a form of bankruptcy because it is, well, bankrupt by all measures.

    This indeed is a deserved ending state of a non-state attached to an imperial state. History records that Puerto Rico was grabbed a war prize by the U.S. winning the American-Spanish War. That war was, surprise!, started by the U.S. on the much declined Spanish Empire, to steal its land and treasures. Puerto Ricans became U.S. citizens unwillingly, and voted not to become a State. What do you expect from a conquered foreign people? In return the U.S. proceeded to treat P.R. as a non-entity, a undesirable vestige of empire, but unwilling to cut off and set it free. Puerto Rico bankruptcy is the natural outcome.

    What is the solution? The solution is simple enough: The U.S. cut off and set free all territories which it conquered during its imperial wars in the early 20th century. This is because the U.S. itself is today has entered the stage of the Spanish Empire in late 19th century. All empires experienced overreach and decline and the U.S., despite its claim of being exceptional, is no exception.

    So Congress, if it is wise (extremely dubious) should vote to let go the following Territories from the U.S., give them full sovereign independence:
    -Puerto Rico
    -Guam
    -Mariana Islands
    -Virgin Islands

    Give the people of the above islands a free vote and they will overwhelmingly want to go free. After all, what has the American empire brought them except McDonalds, nasty tourists and military base?

    And if Congress is truly wise (infinitely dubious), it should also let go Hawaii, another land of utterly foreign people (Polynesian) conquered by threat of force.

    But if not, then history will do the same work down the road as the American empire breaks up. Just that ‘pay me later’ is a lot more messy. And which time even Alaska, California might entertain ideas.

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