Kneepads to California

AF2 USAF C-32A west from JBA to Oakland Int'l

Kneepads to campaign for Gov. Newsom in Calif. recall election

Vice President Kamala Harris will be in the Bay Area today to campaign for Gov. Gavin Newsom in California's recall election.

https://abc7.com/kamala-harris-california-recall-election-gavin-newsom-ca/11008105/

Not AF1 Joe goes next week.....all the stops to keep Getty boi in position.

99-0004 USAF C-32A also out fro JBA

BOXER94 USAF C-40C sw from JBA

SAM269 USAF G5 also sw

morning

>>89476

morning B

doing ok

you find another contractor yet?

>>89479

morning w

o7

>>89481

>>89483

took da werds right outta muh mouth.

ijits

Evergrande Bonds Tumble After Report Of Technical Default; Contagion Slams China Property Market

Another day, another dismal development for "China's Lehman", with Bloomberg reporting that just hours after Fitch joined Moody's in a triple-notch downgrade of China's property development giant (from CCC+ to CC), coupled with a warning that "default appears probable", the dollar bonds of China Evergrande fell to fresh lows, after a report from financial intelligence firm REDD that the firm plans to suspend interest payments on loans from two banks due Sept. 21, and asked a lender to wait for instructions about an extension plan..

For those saying that there is a word for this, you are right: it's technical default, or "selective default" in the parlance of rating agencies; it occurs when a borrower fails to pay one or more of their obligations but continues to meet other payment obligations, and usually precedes a full-blown default and/or bankruptcy although in China the distinction tends to be a little blurry.

Following the news, Evergrande's dollar bond due 2025 fell 1.5 cents on the dollar to 24.2 cents with all other USD bonds sliding in sympathy..... having already been hammered earlier after Fitch said that its 3-notch downgrade "reflects our view that a default of some kind appears probable."

Evergrande itself warned last week of default risks if its efforts to raise cash fall short. Last Friday, the company also said its contracted sales in August, including those to suppliers and contractors to offset payments, dropped 26% compared with a year ago.

The insolvent Evergrande has become one of the biggest financial worries in China, the epicenter of a potential default shockwave given its massive pile of $305 billion in liabilities to banks, shadow lenders, companies, investors, vendors and home buyers. Investor fears that a default is imminent have led to a crash in the firm’s bonds in recent weeks, which are now trading as if the company is already broke, and triggered fears about contagion risk in the broader credit market.

In the previous two days, several Evergrande bonds were suspended from trading following a liquidation scramble. The company's 6.98% bonds due July 2022 were suspended temporarily after falling more than 20% in Shenzhen, according to a statement from the city’s stock exchange that echoed a similar intervention on Friday. On Tuesday, Evergrande's 5.9% local bonds dude 2023 were also halted after a plunge.

Having been a largely isolated affair, fears about Evergrande's rapidly unfolding liquidity crisis finally spilled over and led to contagion at other Chinese property developers. As the FT reported, Fantasia Group, a third property company facing refinancing concerns, said in a statement to the Hong Kong stock exchange on Monday evening that it had made several purchases of its own bonds, one of which matures in December. Its bonds sank to 78 cents on the dollar. Fantasia said in the filing that the purchases of its own bonds would “reduce the company’s future financial expenses and lower its financial gearing level”. In language reminiscent of Evergrande’s challenges, Moody’s late last week estimated that Guangzhou R&F did not have enough cash to cover its debt repayments in the next year and a half, meaning it would need to rely on “new financing or asset sales”. In a separate filing late on Friday, it said the bonds had also been bought through companies wholly owned by Fantasia’s founder Zeng Jie, niece of Zeng Qinghong, a former vice-president of China.

Chinese property developers are also grappling with tighter credit conditions and weaker sales within China after Beijing introduced rules last year to constrain developers’ leverage, not to mention choppy trading on international markets, where they are some of Asia’s biggest high-yield borrowers.

moar

https://www.zerohedge.com/markets/evergrande-bonds-tumble-after-report-technical-default-contagion-slams-china-property

dis how they gonna do the debt ceiling...."selective default"-the dude at the treasury will push a few buttons on the ESF 'keyboard' and voila.....

>>89475

BOXER94 USAF C-40C on final at Atlanta Int'l from JBA depart

SAM242 USAF G5 KAF AC of interdast ne from JBA (high level 99th Airlift Squad AC)

Heading across the pond

RCH625T USAF C-17 Globemaster departed Dover AFB ws

>>89489

speakin' of the 'dude'

'Kink' In T-Bill Curve Surges As Yellen Urges Action Over Debt Ceiling

The Treasury Department will probably exhaust its measures to avoid breaching the debt limit sometime in October, Secretary Janet Yellen said Wednesday, offering more specific guidance than she previously gave. “Based on our best and most recent information, the most likely outcome is that cash and extraordinary measures will be exhausted during the month of October,” Yellen said in a letter to Congress.

Yellen had previously said in July that there were scenarios in which the Treasury could exhaust its special measures and run out of cash “soon after Congress returns from recess” in September. The T-Bill curve is showing serious stress around this timeframe...As the spread between October and November Bills surges. As Bloomberg reports, Democratic lawmakers are expected to attach a measure addressing the debt limit to a stopgap spending bill that will be needed to ensure the federal government stays funded past the start of the fiscal year on Oct. 1. Almost all Republican senators have pledged to vote against lifting or suspending the limit, tying that position to their antipathy toward Democrats’ moves to enact a $3.5 trillion package of social spending.

While this is all politics as usual, Yellen's word choice does sound a little more nervous than we previously remember during these debacles: “"I respectfully urge Congress to protect the full faith and credit of the United States by acting as soon as possible,” Yellen

https://www.zerohedge.com/political/kink-t-bill-curve-surges-yellen-urges-action-over-debt-ceiling

The dude is gettin a little antsy wif doze 'letters'.

SAM248 USAF C-32A on ground at Ramstein several hours ago-from Qatar

Anthony Blinken goes on the charm offensive and takes photos with Afghan refugees at Ramstein

https://www.atlantanewsmedia.com/2021/09/08/anthony-blinken-goes-on-the-charm-offensive-and-takes-photos-with-afghan-refugees-at-ramstein/

Singapore AF SINGA80 A330 MRTT south from Ramstein AFB after another drop off from Al Udeid AB

Think that was the 7th trip from Al Udeid to Ramstein for dat.

>>89475

SAM269 USAF G5 on final at Charleston Int'l Airport from JBA depart

>>89528

"you did wut nao?"

will be the most uttered line

>>89533

roger W

>>89537

on it

Dallas Fed’s Robert Kaplan was an active buyer and seller of stocks last year

Eleven of the Fed’s 12 regional banks have provided disclosures of their leaders’ 2020 financial profiles in recent days.

Federal Reserve Bank of Dallas President Robert Kaplan made multiple million-dollar-plus stock trades in 2020, according to a financial disclosure form provided by his bank, in contrast with other regional Fed leaders who reported more modest financial holdings and smaller transactions. Eleven of the 12 regional Fed banks have provided disclosures of their leaders’ 2020 financial profiles since Friday, sharing information that gives insight into the holdings of officials who help set the central bank’s monetary policy. The Chicago Fed didn’t make immediately available information for their leader.

Mr. Kaplan has been one of the Fed’s strongest voices warning that high levels of monetary stimulus are boosting risk levels in the financial sector. According to the disclosure form provided by the Dallas Fed, Mr. Kaplan had a total of 27 individual stock, fund or alternative asset holdings each valued at over $1 million. Mr. Kaplan’s stockholdings included Apple Inc., Amazon Inc., Boeing Co., Alphabet Inc., Facebook Inc. and Marathon Petroleum Corp. The form also shows Mr. Kaplan made some combination of sales or purchases of over $1 million in 22 individual company shares or investment funds. These transactions included Apple, Alibaba Group Holding Ltd. , Amazon, General Electric Co. and Chevron Corp.

Mr. Kaplan, the Dallas Fed leader since 2015, has deep roots in the financial sector. He worked for investment bank Goldman Sachs Group Inc. for more than two decades and rose to become its vice chairman with responsibility for the firm’s investment-banking activities, leaving that job in 2006. Before coming to the Dallas Fed, Mr. Kaplan was a professor at Harvard Business School.

Mr. Kaplan’s wealth and active presence in the financial markets mirrors that of his predecessor at the Dallas Fed, Richard Fisher, who also reported substantial assets and trading in his own disclosures. A spokesman for the Dallas Fed said Mr. Kaplan’s trading was reviewed and approved by the bank’s general counsel.

The Fed’s 12 regional banks are quasi-private institutions that are technically owned by member banks, and overseen by boards of directors drawn from the private sector. The regional Fed presidents occupy rotating slots on the policy-setting Federal Open Market Committee, and their banks collect local economic intelligence and house banking regulators. The regional presidents are also paid more than the Fed’s Washington-based governors, who are explicitly part of the government.

In the forms provided for the other bank presidents, most reported modest holdings of investment funds and little in the way of large stock trading. Boston Fed chief Eric Rosengren listed a number of stock trades under "joint" status in transactions that were each $50,000 or less, for example. Richmond Fed leader Thomas Barkin, who was a senior executive at management consulting firm McKinsey & Co. before becoming bank president, listed a number of financial holdings each in excess of $1 million.

Atlanta Fed leader Raphael Bostic flagged on his form a number of property holdings that were associated with mortgages, while the Boston Fed leader also had a rental property. Kansas City Fed leader Esther George reported a stake in a farm.

https://www.foxbusiness.com/financials/dallas-feds-robert-kaplan-was-active-buyer-and-seller-stocks-last-year

Poland to introduce minimum tax rate for large corporations

Poland’s finance ministry plans to introduce a minimum tax rate for large corporations to compensate for lower healthcare contributions from the self-employed within its flagship “Polish Deal” economic programme, it said on Wednesday.

Poland announced plans in May for non tax-deductible health contributions of 9%, but Deputy Finance Minister Jan Sarnowski said on Wednesday that rate would be lowered to 4.9% for the self-employed after criticism that it would hurt small businesses. The tax on large corporations designed to cover this shortfall would amount to 0.4% of the company’s revenues, plus 10% of expenses used for tax optimisation purposes, he said. “The tax changes will reduce the revenues of the National Health Fund (NFZ) by 4.5 billion zlotys. The loss will have to be covered from the state budget,” Sarnowski said during the press conference. Prime Minister Mateusz Morawiecki told a separate press conference that the government expected the tax on large corporations to generate about 2 billion zlotys ($520 million) annually. The government says that the “Polish Deal”, first announced in May, will leave an extra 16.5 billion zlotys in the pockets of taxpayers annually, but it has been criticised by business leaders who say plans for non tax-deductible health contributions will hurt the middle class and small businesses.

The programme will see the tax-free limit on personal income rise to 30,000 zlotys a year, 10 times higher than in 2016. The threshold for going into the higher tax bracket will rise to 120,000 zlotys a year from 85,500 zlotys currently.

https://www.reuters.com/article/poland-tax/update-1-poland-to-introduce-minimum-tax-rate-for-large-corporations-idUSL1N2QA1JR

U.S. bank profits drop as industry slows reductions in credit loss provisions - FDIC

U.S. bank profits fell 8.3% to $70.4 billion in the second quarter of 2021 as firms slowed their reductions in credit loss provisions, the Federal Deposit Insurance Corporation reported on Wednesday.

While profits were still significantly higher than they were a year ago up 281% from the second quarter of 2020 banks slowed the rate at which they shrank the large cushions they built up at the height of the coronavirus pandemic. In the second quarter, banks upped their credit loss provisions by $3.7 billion, but those provisions are still down significantly from a year ago, declining $73 billion, or 117.3%. Just 14% of banks reported actually increasing their loss provisions in the last quarter. Over the last year, the share of profitable banks rose slightly to 95.8%. The regulator also reported that average net interest margin for banks hit a new record low of 2.5%.

Loan balances actually grew slightly for the first time since the second quarter of 2020 on the back of stronger borrowing for cars and credit cards. Noncurrent loans were down 10.8% from the first quarter, led by a decline in noncurrent residential loans, which dropped 10.9%.

https://www.reuters.com/article/usa-banks-results/update-1-u-s-bank-profits-drop-as-industry-slows-reductions-in-credit-loss-provisions-fdic-idUSL1N2QA1J9

Shot that wad (upping credit loss provisions and then taking the unused difference and applying it as earned income) already so nao they habs to rely on share buybacks to keep doze propped and not be able to sucker peeps into lying about revs.

>>89289 pb

MCFLY85 yesterday.....

BUELR86 USAF E-4B Nightwatch departed Dyess AFB ne-likely heading to Wright-Patterson AFB

ferrari250gtjoyride.png

#570

>>89475, >>89495, >>89506, >>89524, >>89529, >>89556 Wenzday eyez on the skyz

>>89554 U.S. bank profits drop as industry slows reductions in credit loss provisions:FDIC-reuters

>>89553 Heather Bresch, Joe Manchin’s Daughter, Played Direct Part in EpiPen Price Inflation Scandal-theintercept + Collusion by big Pharma execs, politician's daughter of Sen. Joe Manchin, D-W.Va., to rip off schools thru family (wife of Joe) connected lobbyists? Overcharging for life saving medical EpiPens-soc. media

>>89550 Poland to introduce minimum tax rate for large corporations-reuters

>>89547>>89548 ECW retweet @SethGJones "So much for a kinder, gentler Taliban. Their pick for the rough equivalent of the Taliban's FBI Director? A US-designated terrorist with close ties to al-Qaeda..."-soc media

>>89545, >>89546 Zuby Talks Breakdown Of Society, Craziness Of Today, Improving Culture + moar y/t

>>89558, >>89559, >>89563 Lindell on audits and fallout from

>>89543 Dallas Fed’s Robert Kaplan was an active buyer and seller of stocks last year-foxbiusiness

>>89542, >>89540 'Help America Vote" Act " Help America Vote Act (HAVA) of 2002 was passed by the United States Congress to make sweeping reforms to the nation's voting process"...eac.gov .pdf at linky

>>89536 Dave Collum @DavidBCollum on Gutfeld tonight 11pm ET on @FoxNews-Prof of Organic Chemistry @ Cornell. Libertarian.

>>89535, >>89531, >>89539, >>89540, >>89542, >>89549, >>89555, >>89557 Re: Canvass: "those are LOST votes..." Liz Harris - has worked thru a CANVASS independent of full forensic audit-34.23 percent that were not supposed to have voted said THEY DID VOTE + additional information on wut a valid audit comprises (from WR)

>>89528 We are living through an insane scenario that future historians will write about for years: Americans were told to take medical advice on COVID-19 from the same guy who funded the creation of COVID-19.

>>89526 Bombshell leaked emails prove the State Department DID block Afghan evacuation flights even if they had Americans on board, report claims

>>89519, >>89521, >>89525, >>89527, >>89531, >>89532, >>89535, >>89531, >>89539, >>89540, >>89542, >>89549, >>89555, >>89557, >>89563 War Room mini-bun

>>89515 'Kink' In T-Bill Curve Surges As Yellen Urges Action Over Debt Ceiling

>>89510 Four Members of Gitmo 5 Exchanged by Obama for Bowe Bergdahl Named as Taliban Government Commanders

>>89496 PSBSR revealed

>>89489 Sum Ting Wong: Evergrande Bonds Tumble After Report Of Technical Default; Contagion Slams China Property Market

>>89463 Mexico Rocked By Powerful 7.0-Magnitude Quake

>>89455, >>89473 CM telegram: Good morning. Truth is coming. It's almost time.

>>89564

yw W

hopefully did dat justice.

doggo nao

>>89566

#570

>>89475, >>89495, >>89506, >>89524, >>89529, >>89556 Wenzday eyez on the skyz

>>89554 U.S. bank profits drop as industry slows reductions in credit loss provisions:FDIC-reuters

>>89553 Heather Bresch, Joe Manchin’s Daughter, Played Direct Part in EpiPen Price Inflation Scandal-theintercept + Collusion by big Pharma execs, politician's daughter of Sen. Joe Manchin, D-W.Va., to rip off schools thru family (wife of Joe) connected lobbyists? Overcharging for life saving medical EpiPens-soc. media

>>89550 Poland to introduce minimum tax rate for large corporations-reuters

>>89547, >>89548 ECW retweet @SethGJones "So much for a kinder, gentler Taliban. Their pick for the rough equivalent of the Taliban's FBI Director? A US-designated terrorist with close ties to al-Qaeda..."-soc media

>>89545, >>89546 Zuby Talks Breakdown Of Society, Craziness Of Today, Improving Culture + moar y/t

>>89558, >>89559, >>89563 Lindell on audits and fallout from

>>89543 Dallas Fed’s Robert Kaplan was an active buyer and seller of stocks last year-foxbiusiness

>>89542, >>89540 'Help America Vote" Act " Help America Vote Act (HAVA) of 2002 was passed by the United States Congress to make sweeping reforms to the nation's voting process"...eac.gov .pdf at linky

>>89536 Dave Collum @DavidBCollum on Gutfeld tonight 11pm ET on @FoxNews-Prof of Organic Chemistry @ Cornell. Libertarian.

>>89535, >>89531, >>89539, >>89540, >>89542, >>89549, >>89555, >>89557 Re: Canvass: "those are LOST votes..." Liz Harris - has worked thru a CANVASS independent of full forensic audit-34.23 percent that were not supposed to have voted said THEY DID VOTE + additional information on wut a valid audit comprises (from WR)

>>89528 We are living through an insane scenario that future historians will write about for years: Americans were told to take medical advice on COVID-19 from the same guy who funded the creation of COVID-19.

>>89526 Bombshell leaked emails prove the State Department DID block Afghan evacuation flights even if they had Americans on board, report claims

>>89519, >>89521, >>89525, >>89527, >>89531, >>89532, >>89535, >>89531, >>89539, >>89540, >>89542, >>89549, >>89555, >>89557, >>89563 War Room mini-bun

>>89515 'Kink' In T-Bill Curve Surges As Yellen Urges Action Over Debt Ceiling

>>89510 Four Members of Gitmo 5 Exchanged by Obama for Bowe Bergdahl Named as Taliban Government Commanders

>>89496 PSBSR revealed

>>89489 Sum Ting Wong: Evergrande Bonds Tumble After Report Of Technical Default; Contagion Slams China Property Market

>>89463 Mexico Rocked By Powerful 7.0-Magnitude Quake

>>89455, >>89473 CM telegram: Good morning. Truth is coming. It's almost time.

try dat w/o the mistake

>>89569

four legs of nervousness grateful

back in a bit