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A market correction is inevitable even without trade war fears, billionaire investor Jim Mellon told CNBC’s “Worldwide Exchange” on Tuesday. Mellon is not alone in suggesting that today’s stock market is the most overvalued on record — more so than in 1929, 2000 and 2007.
Freshly announced trade tariffs from the White House may be sending stocks into a tailspin, but a market correction is inevitable even without them,
A record number of people have been forcibly displaced by war, violence and persecution, according to a new report from the U.N. High Commissioner for Refugees. 68.5 million people were forcibly displaced in 2017, setting a new record for the fifth straight year. 138,700 unaccompanied and separated children sought refuge and asylum in 2017, according to the agency. The U.N. says an average of 44,000 people were displaced every day, or one person every two seconds. The agency calculates that one in every 110 people in the world is a refugee,either internally displaced or seeking asylum.
Recreational marijuana use is a step closer to being legal in Canada, after the House of Commons approved the Cannabis Act on Monday. The legislation is now in the Senate, where it has been the subject of debate and proposed amendments.
Canada's parliamentary system, the House of Commons is the more powerful of the two chambers. The Senate, whose members are appointed rather than elected, plays a somewhat controversial role and is often the subject of talk about reform — similar to Britain's House of Lords.
Canada's minister of justice sponsored the cannabis bill; the government announced its push for legalization last spring with an official news release that stated, "The current approach to cannabis does not work."
The government said that making marijuana illegal "has allowed criminals and organized crime to profit.
Texas Republican Party’s statewide convention voted by wide margins in favor of several roll-backs of marijuana prohibition.
With over 80 percent support, the delegates approveddecriminalizing possession of up to an ounce of marijuana, moving marijuana from Schedule 1 to Schedule 2 of the United States government’s Controlled Substances Act, urging the Texas legislature to “pass legislation allowing cultivation, manufacture, and sale of industrial hemp and hemp products; expansion of the state’s rather limited low-THC cannabis oil medical program, received over 90 percent support.
Link: https://www.infowars.com/trump-ill-authorize-cancellation-of-aid-to-nations-sending-illegals/
Countries that allow immigrants to infiltrate America will no longer be eligible for US aid, President Trump claimed Tuesday saying, “We must always arrest people coming into our Country illegally.” “Think of all that aid we give to some of these countries. Hundreds of millions of dollars we give to these countries.
Link: https://sputniknews.com/business/201806191065552005-russia-duties-us-products/
Russia notified the WTO about a possible introduction of tariffs on US goods at $537.6 million a year in response to tariffs on steel and aluminum.
In late March, the US imposed a 25 percent tariff on imported steel products and 10 percent tariff on imported aluminum products.
US Senators voted to block sale of F-35s to Turkey, slamming their NATO ally for plans to buy Russian S-400 missile batteries. Ankara warned of “an alternative” should the deal be called off.
The first of the 100 US-made F-35 fighter jets were to be delivered to Turkey on June 21 but now the whole deal might be off as the US Senators voted to kill the sale. The bill, which is yet to be approved by President Donald Trump, passed the Senate floor on Monday, with 85 votes in favor and 10 against.
Lawmakers chose to remove Turkey from the F-35 program, citing two reasons – the first is Turkey’s plans to purchase S-400 surface-to-air missile batteries from Russia. The adopted bill states that such a deal “is sanctionable under current United States law.” The agreement to deliver two S-400 batteries was concluded between Moscow and Ankara last year, and the prospects of a key NATO ally in the region buying Russian arms immediately unnerved the US politicians.
Link: https://www.rt.com/usa/430245-trump-migrants-infest-america/
President Donald Trump has doubled down on his tough immigration rhetoric, vowing to keep arresting illegal immigrants and blaming Democrats for wanting illegal immigrants to pour in as their potential voters.
Trump’s Monday morning tweets come amid a growing backlash over his administration’s ‘zero-tolerance’ immigration policy. The policy has seen every illegal border-jumper criminally prosecuted and almost 2,000 children separated from their parents in the last two months, as the parents await trial.
But Trump has defended his policy by tweeting: “If you don’t have Borders, you don’t have a Country!”
Link: https://www.rt.com/news/430210-police-housewife-france-dark-web/
French police made an unexpected arrest while investigating the ‘Black Hand’ dark web forum known for selling drugs and guns – a suburban housewife.
In events perhaps reminiscent of the TV show ‘Breaking Bad’, the mother of two, who reportedly has no criminal record, is accused of running one of France’s largest illegal platforms on the dark web. The investigation, labelled the “first of its kind in France” by the Minister of Public Accounts, Gerald Darmanin, is continuing.
An off-duty FBI agent dropped his gun on a nightclub dance floor and accidentally fired the weapon while trying to retrieve it, injuring an unfortunate reveler at the club in Denver, Colorado.
The victim, whose identity was not released, suffered a gunshot injury to his lower leg and was taken to the hospital with a “good prognosis,” according to local media. Denver police said the unidentified agent was questioned and released to a Federal Bureau of Investigations supervisor, without any charges.
Link: https://www.rt.com/business/428809-austria-american-gas-exports-senseless/
The US is force-feeding Europe its liquefied natural gas, which is three times more expensive that buying it from Russia, Austrian President Alexander Van der Bellen said after signing a gas-supply contract with Moscow until 2040.
While US politicians are accusing Europe of being dependent on Russian gas, they forget that “American liquefied gas is two or three times more expensive than Russian gas. Under such circumstances, it makes little sense in purely economic terms to replace Russian gas with American LNG,” Van der Bellen said at a press conference after meeting Russian President Vladimir Putin in Vienna on Tuesday. Putin noted that Austria is a major transportation hub for Russian gas being exported to Europe. “Austria has become one of the key, if not to say, one of the most important units of Russian gas transportation to Western Europe and plays an important role in ensuring the energy security of the entire European continent,
Mexico is putting tariffs on imports of U.S. steel and farm products — including pork, cheese, apples and potatoes — as it hits back at the U.S. for the Trump administration's tariffs on steel and aluminum products from Mexico, Canada and the European Union.
Signed by Mexican President Enrique Peña Nieto, the decree also suspends the country's preferential tariff treatment of the U.S.
The list of U.S. agricultural products, nearly all of which will be subject to taxes of 15 percent to 25 percent, also includes Tennessee or bourbon whiskey and cranberries.
U.S. steel products on the list include steel plates, bars and rods, along with rolled steel. The list also includes motorboats.
Mexico's Economy Ministry said it will start proceedings against the U.S. in the World Trade Organization, where it's seeking a dispute settlement over the U.S. tariffs on Mexican products — 25 percent on steel and 10 percent on aluminum — formally took effect last Friday.
Link: http://www.informationliberation.com/?id=58505
The pledge of mass deportations to come was a reminder that Italy has a staunchly anti-immigrant, right-wing party in its governing coalition — and that the European Union will face a whole new partner governing its fourth-largest economy. The Tunisian Foreign Ministry has summoned the Italian ambassador to protest comments by Italy's new anti-immigration interior minister that the north African country doesn't send its gentleman overseas, but "convicts.
Link: http://postnewsd2.blogspot.com/2018/06/mexico-three-more-female-politicians.html
At least 110 electoral candidates have been murdered since September, according to Mexico's national police.
Police in Mexico are investigating the deaths of two more political candidates after their bodies and those of their companions were found early Saturday morning.
Link: http://www.truth-news.com/2018/06/04/russia-could-become-second-biggest-gold-producer/
Major Russian gold mining companies are planning to almost double production. The increase could make Russia the world’s second largest producer of the precious metal.
The country is currently third in the global rating of gold miners after Australia and China.
Link: http://www.presstv.com/Detail/2018/06/01/563516/Nicaragua-Students-Violence-Protest
At least fifteen people were killed and more than 200 injured in one of the worst days of violence since protests against Nicaraguan President Daniel Ortega began more than a month ago, police said on Thursday.
Link: https://sputniknews.com/military/201806041065096260-us-navy-mothership-air-sea-drones/
A group of researchers at Florida Atlantic University were awarded a contract late last month to create an unmanned surface “mothership” vehicle capable of platforming underwater drones and remotely piloted aircraft.
Link: https://www.zerohedge.com/news/2018-05-30/us-congress-set-fund-new-low-yield-nuclear-warhead
US House of Representatives turned down a measure that would limit the fiscal 2019 funding for the new 6.5 kt W76-2 low-yield (LY) or “flexible” nuclear warhead. The ordnance is to be installed on Trident II submarine-launched ballistic missiles (SLBMs), which normally carry 100 kt W76 warheads. The new flexible warhead dangerously lowers the nuclear threshold. Any commander-in-chief would feel less restrained from using LY ordnance in a crisis. The temptation might be too strong to resist. Actually, the very idea that a limited nuclear war is possible appears to be erroneous as there is no way to draw the line and prevent escalation.
Link: https://www.rt.com/news/428609-guatemala-volcano-fire-eruption/
At least 25 people have been killed and dozens injured, after the Volcan de Fuego in Guatemala erupted, shooting smoke and rocks 10 km into the air and forcing a mass exodus from nearby villages blanketed by ash.
Twenty-five people have been reported dead, mainly in the community of El Rodeo, the National Coordinator for Disaster Reduction in Guatemala (Conred) confirmed, while at least another 20 were injured. Local reports indicate that some 2,000 people have fled the area.
Russian President Vladimir Putin has signed a law stipulating implementation of counter-sanctions against the US and its allies.
The legislation is to be applied to any state or person for “hostile actions” against Russia. It allows Russian authorities to cut international cooperation with foreign states, and to impose import and export restrictions among other countermeasures. Trade embargos will not extended to certain goods, however, that are imported by Russian citizens for personal use.
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