http://www.capitalnewyork.com/article/albany/2015/10/8581360/health-republics-finances-substantially-worse-reported
Health Republic Insurance of New York, the collapsing insurance company that is creating headaches for hundreds of thousands of New Yorkers, misled state and federal officials about its finances, and will not be able to remain in business through the end of the year as originally hoped.
Friday, October 30, 2015
Why I am buying gold for portfolio right now, by manager of £1 billion of assets
http://www.whatinvestment.co.uk/financial-news/funds/2496091/why-i-am-buying-gold-for-portfolio-right-now-by-manager-of-1-billion-of-assets.thtml
Lewis commented, ‘We have been keen observers of the growing market distortions created by global monetary policy. With central banks losing control of the macroeconomic environment we believe policies such as QE become will become discredited.’
He continued, ‘As a result, we have reduced equity exposure within our MAP range of funds and in its place introduced a position ingold for the first time. Gold has a low correlation with other risk assets and serves as a form of insurance should all the world’s central banks spark a round of competitive currency devaluation by loosening monetary policy further. In a world with low, and even negative, real interest rates the opportunity cost of us providing this protection is low.’
Lewis commented, ‘We have been keen observers of the growing market distortions created by global monetary policy. With central banks losing control of the macroeconomic environment we believe policies such as QE become will become discredited.’
He continued, ‘As a result, we have reduced equity exposure within our MAP range of funds and in its place introduced a position ingold for the first time. Gold has a low correlation with other risk assets and serves as a form of insurance should all the world’s central banks spark a round of competitive currency devaluation by loosening monetary policy further. In a world with low, and even negative, real interest rates the opportunity cost of us providing this protection is low.’
United States Mint Silver Bullion Sales Headed for New Record
http://www.newsmax.com/Finance/EdMoy/United-States-Mint-Silver-Bullion-Sales/2015/10/30/id/699742/
American Eagle silver bullion coin sales are headed toward another year of record breaking sales.
2015 sales year-to-date have exceeded the same period in 2014. Sales through the third week in October are 38,986,000 ounces compared to last year’s 38,121,000 ounces. If this sales trend continues, the total number of ounces sold in 2015 will exceed last year’s record of 44,006,000.
Sales would have been even higher except that demand has been so high, it has wiped out the United States Mint’s inventories and outstripped its ability to produce fast enough to replenish those inventories. The coins have been on and off allocation for the past six months.
American Eagle silver bullion coin sales are headed toward another year of record breaking sales.
2015 sales year-to-date have exceeded the same period in 2014. Sales through the third week in October are 38,986,000 ounces compared to last year’s 38,121,000 ounces. If this sales trend continues, the total number of ounces sold in 2015 will exceed last year’s record of 44,006,000.
Sales would have been even higher except that demand has been so high, it has wiped out the United States Mint’s inventories and outstripped its ability to produce fast enough to replenish those inventories. The coins have been on and off allocation for the past six months.
You Are Going to Pay More for Halloween Candy
Candy prices climbed in the last quarter at an annualized rate of 5%.
Of course there is no inflation, the candy has just gotten smaller and your paying more for less...
Boo
U.S. to Deploy 3,000 ground troops to Syria; to SUPPORT REBELS AGAINST RUSSIA!
http://www.cnbc.com/2015/10/30/us-to-deploy-special-operations-forces-in-syria-official.html
The U.S. will send a small number of U.S. special operations forces intoSyria as part of a shift in its strategy against ISIS, officials said Friday.
A senior administration official confirmed that President Barack Obamahas authorized a contingent of less than 50 special operations forces to deploy into northern Syria.
“We have been focused on intensifying elements of our strategy that have been working, while also moving away from elements of our approach that have proven less effective,” the official explained.
The White House was expected to announce the decision later Friday.
And this, just hours after Russia tells US “don’t deploy ground forces”.
A senior Russian diplomat has warned the United States against using its ground forces in Syria.
Deputy Foreign Minister Sergei Ryabkov said Friday, according to Russian news agencies, that Moscow considers the use of U.S. forces without coordination with Syrian President Bashar Assad’s government unacceptable.
Ryabkov’s statement followed U.S. Defense Secretary Ash Carter saying earlier this week that the U.S. was retooling its strategy in Iraq and Syria and would conduct unilateral ground raids if needed to target Islamic State militants. The U.S. now has no U.S. troops in Syria.
Russia says no country can use military force in Syria without getting the approval of the Syrian government.
Can somebody turn up his mic? I can barely hear him speak over all the war protesters. Oh wait..., there aren't any. Never mind.
The U.S. will send a small number of U.S. special operations forces intoSyria as part of a shift in its strategy against ISIS, officials said Friday.
A senior administration official confirmed that President Barack Obamahas authorized a contingent of less than 50 special operations forces to deploy into northern Syria.
“We have been focused on intensifying elements of our strategy that have been working, while also moving away from elements of our approach that have proven less effective,” the official explained.
The White House was expected to announce the decision later Friday.
And this, just hours after Russia tells US “don’t deploy ground forces”.
A senior Russian diplomat has warned the United States against using its ground forces in Syria.
Deputy Foreign Minister Sergei Ryabkov said Friday, according to Russian news agencies, that Moscow considers the use of U.S. forces without coordination with Syrian President Bashar Assad’s government unacceptable.
Ryabkov’s statement followed U.S. Defense Secretary Ash Carter saying earlier this week that the U.S. was retooling its strategy in Iraq and Syria and would conduct unilateral ground raids if needed to target Islamic State militants. The U.S. now has no U.S. troops in Syria.
Russia says no country can use military force in Syria without getting the approval of the Syrian government.
Can somebody turn up his mic? I can barely hear him speak over all the war protesters. Oh wait..., there aren't any. Never mind.
Here is the CHART Trump won the debate
https://pbs.twimg.com/media/CSfUbXeXIAUkuwW.jpg
Trump 57.6%
Cruz 19.54%
Rubio 9.37%
Paul 4.29%
Carson 3.45%
Fiorina 2.03%
Huckabee .59%
Bush .5%
Trump 57.6%
Cruz 19.54%
Rubio 9.37%
Paul 4.29%
Carson 3.45%
Fiorina 2.03%
Huckabee .59%
Bush .5%
Sen. Bill Stanley reports threat by gun-control advocate Andy Parker
http://www.roanoke.com/news/crime/sen-bill-stanley-reports-threat-by-gun-control-advocate-andy/article_f6865f85-3409-5185-a678-01bcc3b24087.html
Late Tuesday, Parker sent this message to Stanley, R-Franklin County, via Facebook: “I’m going to be your worst nightmare you little bastard.”
“I take this very seriously as a threat against the safety of my family,” said Stanley, who contacted Capitol Police and the Franklin County Sheriff’s Office. He said he also picked up applications for concealed handgun permits for himself and his wife.
Gun control nuts proving to us all once again who truly suffers from the so called " Mental illness " propaganda. The left are truly a very disturbed bunch, the recent shooting proves this.
This also poses a question, why are anti gun nuts so hateful and violent?
Late Tuesday, Parker sent this message to Stanley, R-Franklin County, via Facebook: “I’m going to be your worst nightmare you little bastard.”
“I take this very seriously as a threat against the safety of my family,” said Stanley, who contacted Capitol Police and the Franklin County Sheriff’s Office. He said he also picked up applications for concealed handgun permits for himself and his wife.
Gun control nuts proving to us all once again who truly suffers from the so called " Mental illness " propaganda. The left are truly a very disturbed bunch, the recent shooting proves this.
This also poses a question, why are anti gun nuts so hateful and violent?
Chevron Fires Another 7,000 After Laying Off 1,500 Three Months Ago
From the company's press release:
“Third quarter earnings were down substantially from a year ago,” said Chairman and CEO John Watson. “While downstream earnings remained strong, lower overall earnings reflected weaker market prices for both crude oil and natural gas, which depressed upstream profitability. We are focused on improving results by changing outcomes within our control. Operating and administrative expenses are 7 percent lower than last year, and we expect further reductions in the quarters ahead.”
“We expect capital and exploratory expenditures for 2016 to be $25-28 billion, roughly 25 percent lower than this year’s budget,” Watson continued. “We expect further reductions in spending for 2017 and 2018, to the $20 to $24 billion range, depending on business conditions at the time. With the lower investment, we anticipate reducing our employee workforce by 6–7,000.”
Gold Up 3% In October and Enters “Seasonal Sweet Spot”
http://www.goldcore.com/us/gold-blog/gold-up-3-in-october-and-enters-seasonal-sweet-spot/
Gold down 1.3% this week on Fed “noise”
– Gold up 3% in October on robust demand
– Stronger gains in euros, Swiss francs, Japanese yen
– October poor month for gold seasonally
– November, December, January and February the “seasonal sweet spot”
– Confirmation of surging demand for bullion in Germany, India and China in Q3
Gold is headed for a 1.3% fall this week after the Fed’s latest suggestion that they may increase interest rates in December or in the New Year. However, for the month of October gold is 3.1% higher from $1,115/oz to $1,150/oz and has seen even larger gains in other currencies.
Gold down 1.3% this week on Fed “noise”
– Gold up 3% in October on robust demand
– Stronger gains in euros, Swiss francs, Japanese yen
– October poor month for gold seasonally
– November, December, January and February the “seasonal sweet spot”
– Confirmation of surging demand for bullion in Germany, India and China in Q3
Gold is headed for a 1.3% fall this week after the Fed’s latest suggestion that they may increase interest rates in December or in the New Year. However, for the month of October gold is 3.1% higher from $1,115/oz to $1,150/oz and has seen even larger gains in other currencies.
Michigan consumer sentiment Oct final 90.0 vs 92.5 exp
- 92.1 prev
- expectations 82.1 vs 83.1 exp vs 82.7 prev
- current conditions 102.3 vs 107.00 exp vs 106.7 prev
- 1 year inflation expectations 2.7% vs 2.7% prev
- 5-10 year inflation expectations 2.5% vs 2.6% prev
DXY
If the fundamentals drag the dollar back down this has the potential to drive gold out of it’s daily cycle low and produce the next leg up I’m looking for over the next 2-3 weeks.
Chicago PMI Oct 56.2 vs 49.4 exp
Latest data now out. Livesquawk report of social media having the heads up prior
What was it exactly that Chicago produces again to justify this pop?
Ahh!
A surge in inventories was the biggest driver...
- 48.7 prev
What was it exactly that Chicago produces again to justify this pop?
Ahh!
A surge in inventories was the biggest driver...
INVENTORIES INCREASE SHARPLY TO ABOVE 60
Stocks of finished goods rose to above 60 as some companies intentionally built stocks as demand increased and in an effort to be prepared for the new cold weather selling season.
Concerns now rest with being over-inventoried as winter is predicted to be mild, purchasers said.
U.S. Backs Off Hard Line on Syrian President’s Future
http://www.wsj.com/articles/u-s-backs-off-hard-line-on-syrian-presidents-future-1446161540
The Obama administration entered a crucial round of international
talks on Syria’s war prepared to accept a deal that leaves President Bashar al-Assad in place for several months or more during the transition to a new government.
The U.S. shift on the dictator’s future caps months of backtracking on the most significant obstacle to a resolution of the Syrian conflict. While U.S. officials once argued Mr. Assad couldn’t take part in a political transition, they have gradually eased that stance, eventually signaling he wouldn’t have to step down immediately. Now they are planning to negotiate the question of his future in talks being held Friday in Vienna.
The White House hasn’t publicly set a time frame for Mr. Assad’s departure to give U.S. negotiators room to maneuver in the Vienna talks, officials said.
But in advance of negotiations, administration officials discussed a resolution with U.S. allies, including Turkey, that would allow Mr. Assad to remain in place after a cease-fire in the 4½-year conflict.
The resolution the U.S. is seeking would include a cease-fire and would “not prejudge the Assad question,” a senior administration official said.
The approach reflects new realities imposed in Syria by Russia and Iran, which have intensified military operations to bolster Mr. Assad. It also follows recent challenges faced by the American-led fight against Islamic State.
Russia and Iran are taking part in Friday’s conference, along with Mr. Assad’s Arab adversaries. In all, the meeting brings together more than a dozen European and Middle Eastern foreign ministers. The inclusion of Iran represents a change after the U.S. and Saudi Arabia blocked Tehran’s participation previously.
Russia and Iran have demanded Mr. Assad retain power. America’s Arab allies are demanding a clear timeline for when Mr. Assad would step down, U.S. and Arab officials said.
We killed some folks.... and we're sorry bout that, now take your ball and go back home.
The U.S. plans to
negotiate the future of Syrian President Bashar al-Assad, seen at the
Kremlin on Oct. 20, in talks being held Friday in Vienna.
Photo:
alexey druzhinyn/Press Pool
The U.S. shift on the dictator’s future caps months of backtracking on the most significant obstacle to a resolution of the Syrian conflict. While U.S. officials once argued Mr. Assad couldn’t take part in a political transition, they have gradually eased that stance, eventually signaling he wouldn’t have to step down immediately. Now they are planning to negotiate the question of his future in talks being held Friday in Vienna.
The White House hasn’t publicly set a time frame for Mr. Assad’s departure to give U.S. negotiators room to maneuver in the Vienna talks, officials said.
But in advance of negotiations, administration officials discussed a resolution with U.S. allies, including Turkey, that would allow Mr. Assad to remain in place after a cease-fire in the 4½-year conflict.
The resolution the U.S. is seeking would include a cease-fire and would “not prejudge the Assad question,” a senior administration official said.
The approach reflects new realities imposed in Syria by Russia and Iran, which have intensified military operations to bolster Mr. Assad. It also follows recent challenges faced by the American-led fight against Islamic State.
Russia and Iran are taking part in Friday’s conference, along with Mr. Assad’s Arab adversaries. In all, the meeting brings together more than a dozen European and Middle Eastern foreign ministers. The inclusion of Iran represents a change after the U.S. and Saudi Arabia blocked Tehran’s participation previously.
Russia and Iran have demanded Mr. Assad retain power. America’s Arab allies are demanding a clear timeline for when Mr. Assad would step down, U.S. and Arab officials said.
We killed some folks.... and we're sorry bout that, now take your ball and go back home.
Canada GDP Aug mm +0.1% vs +0.1% exp
- +0.3% prev
- yy +0.9% vs +1.0% exp vs +0.7% prev revised down from +0.8%
U.S. employment costs rise 0.6% in third quarter
- Prior 0.3%. Revised to 0.4%
- Spending 0.1% vs 0.2% exp m/m. Prior 0.4%
- Real spending 0.2% vs 0.2% exp m/m. Prior 0.4%
- Core PCE 1.3% vs 1.4% exp y/y. Prior 1.3%
- PCE deflator 0.2% vs 0.2% exp y/y. Prior 0.3%
- -0.1% vs -0.1% exp m/m. Prior 0.0%
- 0.1% vs 0.2% exp m/m. Prior 0.1%
- Q3 employment cost index 0.6% vs 0.6% exp. Prior 0.2%
- Q3 wages 0.6% vs 0.2% prior
- Q3 benefits 0.5% vs 0.1%prior
Richmond Fed's Lacker: Wanted rate hike due to 'steady growth'
Here's the full remarks;
"I dissented because I believe that an increase in our interest rate target is needed, given current economic conditions and the medium-term outlook. My assessment is essentially unchanged from the Committee's September meeting, at which I also dissented. My reasoning was based on my belief that with the steady growth in output and household spending that we have been observing - and expect to continue - the real (inflation adjusted) rate of interest should be higher than its current level of less than negative 1 percent. My assessment was also supported by labor markets that had tightened considerably and my confidence that inflation will return to our 2 percent objective after the temporary effects of low energy and import prices have passed."
"The Committee's decision not to raise rates in September was influenced, in part, by global financial and economic developments in the weeks before that meeting. I did not believe at the time that the uncertainty stemming from those events was sufficient to justify further delay in policy normalization. The data we have received since the September meeting have strengthened my confidence that those events are not likely to change the medium-term outlook for U.S. growth and inflation. So I remain convinced that it is time to better align our interest rate policy with the economy's past progress and ongoing growth."
"I recently expressed my views in a speech to the Richmond Retail Merchants Association titled 'The Case Against Further Delay.' My views on the economy and monetary policy are also available on richmondfed.org."
"I dissented because I believe that an increase in our interest rate target is needed, given current economic conditions and the medium-term outlook. My assessment is essentially unchanged from the Committee's September meeting, at which I also dissented. My reasoning was based on my belief that with the steady growth in output and household spending that we have been observing - and expect to continue - the real (inflation adjusted) rate of interest should be higher than its current level of less than negative 1 percent. My assessment was also supported by labor markets that had tightened considerably and my confidence that inflation will return to our 2 percent objective after the temporary effects of low energy and import prices have passed."
"The Committee's decision not to raise rates in September was influenced, in part, by global financial and economic developments in the weeks before that meeting. I did not believe at the time that the uncertainty stemming from those events was sufficient to justify further delay in policy normalization. The data we have received since the September meeting have strengthened my confidence that those events are not likely to change the medium-term outlook for U.S. growth and inflation. So I remain convinced that it is time to better align our interest rate policy with the economy's past progress and ongoing growth."
"I recently expressed my views in a speech to the Richmond Retail Merchants Association titled 'The Case Against Further Delay.' My views on the economy and monetary policy are also available on richmondfed.org."
Friday:
• At 8:30 AM ET, Personal Income and Outlays for September. The consensus is for a 0.2% increase in personal income, and for a 0.2% increase in personal spending. And for the Core PCE price index to increase 0.2%.
• Also at 8:30 AM, the Employment Cost Index for Q3. The consensus is for a 0.6% increase in Q3.
• At 9:45 AM, Chicago Purchasing Managers Index for October. The consensus is for a reading of 49.2, up from 48.7 in September.
• At 10:00 AM, University of Michigan's Consumer sentiment index (final for October). The consensus is for a reading of 92.5, up from the preliminary reading of 92.1.
Thursday, October 29, 2015
Why are the Federal Reserve's Hands Tied?
http://viableopposition.blogspot.ca/2015/10/why-are-federal-reserves-hands-tied.html
Now
that the Federal Reserve has once again left investors baffled about
their interest rate intentions, I wanted to take another look at an
issue that may tie the Fed's "hands" for the foreseeable future.
Stuffed away in the Bank
for International Settlements Quarterly
Review dated September 2015 is some interesting information
regarding the global debt situation. As many of my long-term readers
are aware, debt is a regular subject on this blog and this data from BIS shows us all how the
global debt situation has reached the danger point.
Homeless Encampment Growing on West 96th Street, Residents Say
http://www.dnainfo.com/new-york/20151028/upper-west-side/homeless-encampment-growing-on-west-96th-street-residents-say
Trash piles first appeared in June in front of 264-266 West 96th St., an abandoned subway building between Broadway and West End Avenue, and they have kept growing throughout the summer, said resident Paul Lashin.
Homeless people took up residence among the trash and added to it sometime between the summer and early fall, he said.
"I noticed that the garbage pile kept coming back, but it seemed to be more organized," Lashin explained. "There were books and stuff stuck into the grates of this building."
Trash piles first appeared in June in front of 264-266 West 96th St., an abandoned subway building between Broadway and West End Avenue, and they have kept growing throughout the summer, said resident Paul Lashin.
Homeless people took up residence among the trash and added to it sometime between the summer and early fall, he said.
"I noticed that the garbage pile kept coming back, but it seemed to be more organized," Lashin explained. "There were books and stuff stuck into the grates of this building."
12 Days Before '08 Crash, Congress was Secretly Told to Sell Off Their Stocks
http://www.activistpost.com/2015/10/12-days-before-08-crash-congress-was-secretly-told-to-sell-off-their-stocks.html
Earlier this month, it was reported that less than two weeks before the economic collapse of 2008, several members of Congress took their money out of the stock market. Many high-ranking government employees were given a heads-up about the impending market crash in secret meetings with the Federal Reserve and the Treasury Department. Then they used that information to engage in insider trading.... These actions would be illegal for any American in any other circumstance, but members of Congress and high-ranking government officials are actually exempt from insider trading laws.''
Earlier this month, it was reported that less than two weeks before the economic collapse of 2008, several members of Congress took their money out of the stock market. Many high-ranking government employees were given a heads-up about the impending market crash in secret meetings with the Federal Reserve and the Treasury Department. Then they used that information to engage in insider trading.... These actions would be illegal for any American in any other circumstance, but members of Congress and high-ranking government officials are actually exempt from insider trading laws.''
Deutsche Bank to Shrink Workforce by About 26,000 in Revamp
http://www.bloomberg.com/news/articles/2015-10-29/deutsche-bank-to-shrink-workforce-by-about-26-000-by-2018-igby2m1o
The lender will cut about 9,000 jobs on a net basis, almost 10 percent of staff it expects to have at end of the year, and others will leave the company as businesses are sold, Deutsche Bank said on Thursday. The bank will close operations in 10 countries including Mexico, Norway and New Zealand, and move trading businesses from Brazil to global and regional hubs, and reduce the number of investment banking clients.'
The lender will cut about 9,000 jobs on a net basis, almost 10 percent of staff it expects to have at end of the year, and others will leave the company as businesses are sold, Deutsche Bank said on Thursday. The bank will close operations in 10 countries including Mexico, Norway and New Zealand, and move trading businesses from Brazil to global and regional hubs, and reduce the number of investment banking clients.'
Report: Caterpillar Escorted Hundreds Of Layoffs Out Of Building
http://www.constructionequipment.com/caterpillar-lays-1000-employees
The notifications are following through with restructuring actions the company announced in late September.
It has not been specified how many of these 1,000 layoffs would affect Caterpillar employees in Decatur, Peoria and other central Illinois plants. About 5,000 layoffs will be done by the end of 2015.
http://www.wandtv.com/story/30377776/caterpillar-begins-first-wave-of-cutbacks
The notifications are following through with restructuring actions the company announced in late September.
It has not been specified how many of these 1,000 layoffs would affect Caterpillar employees in Decatur, Peoria and other central Illinois plants. About 5,000 layoffs will be done by the end of 2015.
http://www.wandtv.com/story/30377776/caterpillar-begins-first-wave-of-cutbacks
Pending U.S. home sales decline for second straight month
Pending home sales fell 2.3% in September, the second drop in a row, the
National Association of Realtors reported Thursday. The index is at its
second lowest level of the year, though it's up 3% from the same level
12 months ago. The NAR said there continues to be a dearth of available
listings in the lower end of the market for first-time buyers. A sale is
listed as pending when the contract has been signed but the transaction
has not closed.
FBI director says cellphone cameras are to blame for rise in hostile relationship between police and public as cops are frequently taunted for the sake of getting a viral video
http://www.dailymail.co.uk/news/article-3288732/FBI-director-says-cellphone-cameras-blame-rise-hostile-relationship-police-public-cops-frequently-taunted-sake-getting-viral-video.html
The FBI
director has blamed cellphone cameras for a nationwide rise in crime as
he claims police are being less aggressive with tackling criminals for
fear they will become the next viral video.
James
Comey warned that the intense scrutiny and criticism of officers in the
wake of a series of high profile police brutality incidents have sent
'a chill wind blowing through American law enforcement over the last
year.'
The
director said that police felt 'under siege' with reports of officers
being taunted by young people with their smart phones from 'the moment
they get out of their cars.'
And
he warned that relations between the authorities and U.S. citizens are
only becoming more hostile, 'incident by incident, video by video.'
GDP
Again I say
Stay healthy my friends and you don't participate in the Healthcare scam...and it is a scam folks.
Wednesday, October 28, 2015
FDA Confiscates Several Thousand Chickens From KFC Farms As Mutations Worsen
http://now8news.com/fda-confiscates-several-thousand-chickens-from-kfc-farms-as-mutations-worsen/
Now, with the FDA raid, those accusations are no longer “theories,” but proven fact. In the photos just released, you can see just how “mutated” these chickens have become due to their scientific experiments. Experiments that they were hoping would yield them twice the chicken legs for half the price. Getting four legs per chicken, was estimated to bring them an additional $12.5 million in annual revenue. But now, KFC is looking at fines half that amount. If convicted, they can face fines of $7 million, -
Now, with the FDA raid, those accusations are no longer “theories,” but proven fact. In the photos just released, you can see just how “mutated” these chickens have become due to their scientific experiments. Experiments that they were hoping would yield them twice the chicken legs for half the price. Getting four legs per chicken, was estimated to bring them an additional $12.5 million in annual revenue. But now, KFC is looking at fines half that amount. If convicted, they can face fines of $7 million, -
What have we become?
Is this the safe enviormennt the liberals are preaching about for our children schools?? Another fine example of why Law Enforcement types should carry liability insurance, on an individual basis, you need to be liable for your own actions, both personally and professionally. This is no different than the gun control nuts calling for Hand Gun insurance , They want me to be Liable for my own actions. Well you know something Captain America? you too are liable for your actions.
Word has it Captain America was fired and justifiably so.
ces Revised Date for Release of Third Quarter, 2015 Financial Results; Provides Emergency Supplies to Small Towns Near San Sebastian del Oeste, Jalisco, Mexico to Assist in Recovery From Hurricane Patricia
http://www.marketwatch.com/story/endeavour-silver-announces-revised-date-for-release-of-third-quarter-2015-financial-results-provides-emergency-supplies-to-small-towns-near-san-sebastian-del-oeste-jalisco-mexico-to-assist-in-recovery-from-hurricane-patricia-2015-10-28-61735925
Endeavour Silver Corp. (EDR) EXK, -0.29%announces the date and time for the release of Third Quarter, 2015 financial results has changed. The results will now be released before market on Monday, November 2, 2015 and a telephone conference call will be held the same day at 11:00am PST (2:00pm EST). To participate in the conference call, dial the following:
I was curious about the high volume in EXK shares today and this explains it.
Endeavour Silver Corp. (EDR) EXK, -0.29%announces the date and time for the release of Third Quarter, 2015 financial results has changed. The results will now be released before market on Monday, November 2, 2015 and a telephone conference call will be held the same day at 11:00am PST (2:00pm EST). To participate in the conference call, dial the following:
I was curious about the high volume in EXK shares today and this explains it.
The U.S. Debt Ceiling has Risen No Matter Who is in Office [Chart]
House Republican leaders were slated to propose a bill this week linking a debt ceiling increase to conservative issues. Under the new proposal, the debt ceiling would be increased from $18.1 trillion to $19.6 trillion, and would likely extend through 2018.
However, new reports out of Washington suggest that internal support for the bill from Republican lawmakers is divided, and it is unlikely to go to the floor. Where things go from here are unclear. If it gets down to the wire, Republicans willing to play ball may have to seek Democrat support, but this would likely void any concessions to spending as originally proposed.
Congress is likely on the brink of another deadlock, similar to 2011 or 2013, in which debate will rage on even past the Treasury’s deadline of November 3. The end result is obvious: the limit will be increased. However, in the meantime, there is likely to be no shortage of brinkmanship as both parties do their song and dance.
Fed leaves rates unchanged, open to hike 'at next meeting'
For immediate release
Information received since the Federal Open Market Committee met in September suggests that economic activity has been expanding at a moderate pace. Household spending and business fixed investment have been increasing at solid rates in recent months, and the housing sector has improved further; however, net exports have been soft. The pace of job gains slowed and the unemployment rate held steady. Nonetheless, labor market indicators, on balance, show that underutilization of labor resources has diminished since early this year. Inflation has continued to run below the Committee's longer-run objective, partly reflecting declines in energy prices and in prices of non-energy imports. Market-based measures of inflation compensation moved slightly lower; survey-based measures of longer-term inflation expectations have remained stable.Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators continuing to move toward levels the Committee judges consistent with its dual mandate. The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced but is monitoring global economic and financial developments. Inflation is anticipated to remain near its recent low level in the near term but the Committee expects inflation to rise gradually toward 2 percent over the medium term as the labor market improves further and the transitory effects of declines in energy and import prices dissipate. The Committee continues to monitor inflation developments closely.
To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.
The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. This policy, by keeping the Committee's holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.
When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.
Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Charles L. Evans; Stanley Fischer; Dennis P. Lockhart; Jerome H. Powell; Daniel K. Tarullo; and John C. Williams. Voting against the action was Jeffrey M. Lacker, who preferred to raise the target range for the federal funds rate by 25 basis points at this meeting.
Odd reaction considering the market already knew...
Nothing has changed long and strong...and a YAWN!
Obama Blatanty Lies About Violence As He Proposes More Gun Laws
http://bearingarms.com/obama-blatanty-lies-violence-proposes-gun-laws/
President Obama will tell police chiefs Tuesday that enacting more gun laws would save more police officers’ lives.
“It’s time to be honest — fewer gun safety laws don’t mean more freedom, they mean more fallen officers,” Mr. Obama will say at the gathering in Chicago, according to the White House. “They mean more grieving families, and more Americans terrified that they or their loved ones could be next.”
Mr. Obama will say, “I’m going to keep calling on the folks in Congress to change the way they deal with gun safety — and if they don’t, I’m going to keep calling on Americans to change the folks in Congress until they get this right.”
The president and Attorney General Loretta Lynch will speak to the annual conference of the International Association of Chiefs of Police, where Mr. Obama is expected to push for national laws aimed eliminating disparities in gun regulations in different states.
"
President Obama, Hillary Clinton, and their anti-liberty allies keep shrieking about a “gun violence epidemic” that simply does not exist.
Violent crime of all kinds is on a multi-decade decline.
Crime committed with firearms is on a multi-decade decline.
Crimes commit with “assault rifles” are so low that the FBI doesn’t even track them, and make up some fractional percentage of just 285 rifle-related homicides last year in a nation of 320 million people."
President Obama will tell police chiefs Tuesday that enacting more gun laws would save more police officers’ lives.
“It’s time to be honest — fewer gun safety laws don’t mean more freedom, they mean more fallen officers,” Mr. Obama will say at the gathering in Chicago, according to the White House. “They mean more grieving families, and more Americans terrified that they or their loved ones could be next.”
Mr. Obama will say, “I’m going to keep calling on the folks in Congress to change the way they deal with gun safety — and if they don’t, I’m going to keep calling on Americans to change the folks in Congress until they get this right.”
The president and Attorney General Loretta Lynch will speak to the annual conference of the International Association of Chiefs of Police, where Mr. Obama is expected to push for national laws aimed eliminating disparities in gun regulations in different states.
"
President Obama, Hillary Clinton, and their anti-liberty allies keep shrieking about a “gun violence epidemic” that simply does not exist.
Violent crime of all kinds is on a multi-decade decline.
Crime committed with firearms is on a multi-decade decline.
Crimes commit with “assault rifles” are so low that the FBI doesn’t even track them, and make up some fractional percentage of just 285 rifle-related homicides last year in a nation of 320 million people."
Interactive map lets you hover over countries to visualize flow of asylum seekers to Europe
http://www.breitbart.com/london/2015/10/28/interactive-map-lets-watch-thousands-migrants-flooding-europe/?utm_content=bufferaf7a0&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
The map site acknowledges where data is missing and it’s a given that the known data is shy since movement occurs w/o documentation. That’s the really scary part. I hope they continue to develop this with monthly #s and would love to see it expanded to show other continents (esp USA). Obama will hide as much info as possible, though.
The map site acknowledges where data is missing and it’s a given that the known data is shy since movement occurs w/o documentation. That’s the really scary part. I hope they continue to develop this with monthly #s and would love to see it expanded to show other continents (esp USA). Obama will hide as much info as possible, though.
Angela Merkel visibly disgusted by German flag - Throws it away during celebration
WOW! she hates her own Country!
EXCLUSIVE: Israeli Colonel Leading ISIL Terrorists Captured in Iraq
http://english.farsnews.com/newstext.aspx?nn=13940730000210
"The security and popular forces have held captive
an Israeli colonel," a commander of Iraq's popular mobilization forces
said on Thursday.
"The Zionist officer is ranked colonel and had participated in the Takfiri ISIL group's terrorist operations," he added.
Noting that he was arrested along with a number of
ISIL terrorists, the commander said, "The Israeli colonel's name is
Yusi Oulen Shahak and is ranked colonel in Golani Brigade of the Zionist
regime's army with the security and military code of
Re34356578765az231434."
He said that the relevant bodies are now
interrogating the Israeli colonel to understand the reasons behind his
fighting alongside the ISIL forces and the presence of other Zionist
officers among ISIL terrorists.
The Iraqi security forces said the captured colonel has already made shocking confessions.
Several ISIL militants arrested in the last one
year had already confessed that Israeli agents from Mossad and other
Israeli espionage and intelligence bodies were present in the first wave
of ISIL attacks on Iraq and capture of Mosul in Summer 2014, but no
ranking Israeli agent had been arrested.
US EIA crude oil inventories +3376K vs +3560K expected
- Prior was +8028K
- Gasoline inventories -1137K vs -1050K expected
- Prior gasoline drawdown was -1518K
- Distillates -2951K vs -1765K expected
- Refinery utilization 1.20% vs 0.08% exp
Oil is higher after the number, up about 4% on the day.
Charges Dropped Against Man Who Downed Drone
http://www.thetruthaboutguns.com/2015/10/daniel-zimmerman/charges-dropped-against-man-who-downed-drone/
“He had a right to shoot at this drone, and I’m gonna dismiss this charge.” With that, Judge Rebecca Ward gaveled the case against William Meredith to a close. Meredith’s the Kentucky man who shotgunned a drone out of the sky that he suspected was ogling his teenage daughter as she sunned herself.
“He had a right to shoot at this drone, and I’m gonna dismiss this charge.” With that, Judge Rebecca Ward gaveled the case against William Meredith to a close. Meredith’s the Kentucky man who shotgunned a drone out of the sky that he suspected was ogling his teenage daughter as she sunned herself.
Quick FOMC previews from 20 banks
The Federal Reserve rate decision is due at 2 pm ET ( Meaningless drivel but moves markets, me thinks there has already been a leak )
The following are the expectations for today's FOMC October decision as provided by the economists at 20 major banks along with some thoughts on the USD into the event as provided by the FX strategists at these banks.
Goldman Sachs: We do not expect significant changes in the October FOMC statement. The statement is likely to acknowledge slower payroll gains while still describing growth as "moderate." We would view such an outcome as indicating that, despite the weaker-than-expected recent data, the leadership's baseline for liftoff remains December.
Morgan Stanley: The market appears to be expecting very little from this week's FOMC meeting. Our economists are also not expecting any change in the statement. But markets are likely to become more data sensitive in the run-up to the December meeting, where our economists still anticipate liftoff.
JP Morgan: We are expecting no change (which is virtually a unanimous market view), so the statement will be key. The extent to which the statement persuades the market that Dec is a real possibility will likely be the key driver of USD price action.
Deutsche Bank: DB's US economists expect the FOMC statement to be dovish one, with a more cautious tone relative to September, given the fact that the economy likely grew under 2% last quarter, and growth prospects for the current quarter are dimming in light of the sharp slowdown in the index of leading economic indicators. Moreover, the trajectory of consumer spending, the dominant driver of economic output, weakened intra-quarter (i.e., between July and September). The description of the labor market will surely have to to be toned down as well as the job market has meaningfully slowed over the past couple of months. The financial markets will treat the marking down of the Fed's near-term assessment of the economy as dovish, thereby further reducing the probability of a December 2015 rate hike. And if the Fed determines that it really wants to raise rates this year, the likely tightening in financial conditions that would accompany such a desire would give policymakers pause. Therefore, we do not expect a rate hike until the March 2016 meeting at the earliest
Barclays: We expect the FOMC to hold its monetary policy unchanged as we continue to look for an initial rate hike at the March 2016 meeting. Its statement will likely contain only minor adjustments and retain the language "recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term," in our view.
Credit Suisse: Our US economics team expects the Fed to mark to market its statement to take account of recent softness in US economic data. But they also expect the Fed to introduce a sentence that perhaps downplays the significance of the spillover from weaker global conditions in order to leave open some optionality for a December rate. hike. If the FOMC statement pans out as our economists expect, given that market pricing is at 36% for a December rate hike and that the first hike is not fully priced in until June 2016, the USD would see a net positive reaction in our view. Otherwise unless the Fed is dovish to the point of ruling out a December rate hike entirely, which would probably lead to USD losses of up to 2% against the majors over coming days, we would expect only limited USD movement. Under these circumstances, we would look to fade resulting USD weakness given our expectations for easing from the ECB and possibly other central banks in December.
BNPP: We expect Wednesday's FOMC statement to contain only modest dovish adjustments, with the Committee likely keen to leave open the possibility of delivering a hike in December if data improve. Given light long USD positioning as signalled by BNP Paribas positioning analysis, the USD should ride out the dovish adjustments relatively unscathed. Furthermore, monetary policy developments outside the US remain as important if not more important for near-term USD direction.
BofA Merrill: The October FOMC meeting is unlikely to deliver any major changes in policy or language, despite several Fed officials' recent attempts to characterize this meeting as "live". Without a forecast update or press conference scheduled, the focus will be on interpreting any revisions to the statement language. We expect relatively minor edits, however, and the interesting discussion won't appear until the minutes are released later in November. At this stage, we continue to see a relatively flat distribution for the timing of liftoff. December is our modal forecast for the first rate hike, but there is a significant chance that it could be later - depending on the upcoming data flow. No clear signals... once again "The FOMC has tried to dissuade markets from expecting any explicit signals about upcoming policy changes, emphasizing data dependence. As such, we anticipate no meaningful changes to the policy guidance language. That should not be read as a sign the Fed will not hike in December; rather that they are keeping all options open. We still see a significant chance that the FOMC will hike this year, but we likely will need to wait for subsequent speeches to get any clarity on the timing of liftoff.
Nomura: We don't expect the FOMC to change policy at today's meeting. At the moment, markets appear to assign about a one in three chance of "liftoff" in December. We do not think the FOMC will want to do anything at this point that reduces those odds. On the other hand, we do not think that the Committee is ready to send a strong signal that "liftoff" in December is likely. In the weeks after the October FOMC meeting we will get data that may help to clarify the outlook for the economy. Moreover, Yellen and other FOMC participants are scheduled to speak between the October and December meetings and therefore they will have the opportunity to clarify their intentions. Consequently, we do not think that the Committee is in a position to send a major signal about its policy intentions at this time.
RBS: RBS matches the consensus anticipating no change. With no press conference scheduled and no update to the Fed's projections for growth, inflation, or 'dots', the bar was already set fairly high for any change in policy. International developments and domestic data released since the September decision are unlikely to have increased the Fed's sense of "reasonable confidence" that inflation will rise over time. The fact that the FOMC will release only its post-decision FOMC statement this week severely limits the Fed's ability to communicate a change in policy outlook. In this sense, less news is good news for the USD - the fewer changes the FOMC makes, the more positive for the USD at the margin. But any USD gains inspired by an unchanged statement may prove fleeting, as participants quickly look to the commentary from FOMC officials and the minutes following the decision for a more detailed look at how the Fed's views on the outlook have evolved
Commerzbank: The Federal Open Market Committee (FOMC) members may have said time and again that they could hike rates at their October meeting, but the markets have not believed them. And with nobody expecting a rate hike today, we are won't see one. The Fed certainly will not want to wrong-foot the markets in the current environment. However, it will have to become more explicit in its communications if it wants to hike rates at any time in the future. Nevertheless, it is unlikely that it will clearly signal a rate hike in December today, as doing so would undermine its mantra of "data-dependency". The USD exchange rate will depend on what the Fed statement says on the recently weaker data. If the Fed believes that the US economy is still recovering nicely, the USD might trade somewhat firmer after the meeting, as the markets are currently overly cautious and predicting a rate hike only for March 2016. The Fed will certainly not sound even more pessimistic today. Rather, it might cautiously hint at approaching rate hikes. However, that will not be enough to justify EUR-USD to break out of its trading range of 1.08-1.15. The Fed's glass is only half full - note: "half".
SocGen: A policy move is really, really unlikely and I wouldn't hold out much hope of a shift in the policy statement to encourage pricing of a December hike (by, say, removing the reference to international developments in then assessments of risks). Can Fed dovishness calm global markets and stop the dollar's advance?. Oil price are one worry, and the precipitous fall in Bund yields another: 0.44% this morning. The Fed will have its work cut out tom prevent a slip in EUR/USD under 1.10 (towards 1.08) and that, in turn, will make the DXY chart look scary to technical analysts.
Credit Agricole: Today's key release is the October FOMC statement. Nevertheless, we think this will pass as non-event so markets more likely to focus on data releases. This reflects a general view that the chances of a rate hike this week are remote. What's more, there is no presser or forecast updates, leaving market participants to focus on the statement. This month's statement is unlikely to provide much clarity about the outlook for the FOMC policy rate so markets are left clinging to data releases for signals about the state of the economy. Despite the limited clarity on the Fed outlook, our focus persists on the strength of the domestic economy. As such we stay of the view that the central bank is likely to tighten monetary policy in December. As consensus expectations seem to favour a March lift-off such an outcome suggests room of rising Fed rate expectations to the benefit of the USD.
BTMU: The release of the latest FOMC policy statement will be scrutinized closely to see if it is consistent with market expectations which have pushed back the timing of the first Fed rate hike into next year. The statement is likely to acknowledge that economic and labour market growth has moderated recently which may satisfy market expectations looking for the Fed to delay raising rates. However, it remains unlikely that the Fed will explicitly rule out beginning to raise rates this year leaving the decision data dependent in the coming months. The US dollar may weaken modestly following the release of the statement but it is unlikely to derail its renewed upward momentum. The Fed still appears relatively hawkish when overseas central banks are increasingly shifting to ease monetary policy. The US dollar's recent rebound is unlikely to overly concern the Fed either as financial conditions have eased significantly since their last meeting in September.
CIBC: Our call for a December rate hike. But given a very divided Fed, expect the October meeting's statement to be very wishy-washy in terms of anything that might signal the timing of their lift-off.
SEB: -Unchanged Fed policy and few/no new signals tonight. Fed has signaled its willingness to raise rates for a long time now and there was scope to deliver during the summer. However, the signal of tighter monetary policy one year ago: 1) strengthened USD, 2) pressured the oil price and 3) created the basis for a (commodity driven) EM crisis. The dependence on the USD that Fed has signaled is surprising. That China is slowing down is not as surprising. The US economy is chugging along, but the pace is not convincing and inflation expectations are still under pressure. To make matters worse, the ECB has made life more difficult for the Fed.
UOB: Given that any expectations of an interest rate move have now evaporated and that there is no press conference scheduled after the event, there is a great deal hanging on the accompanying statement, which we think will likely be more downbeat than that issued in September in light of recent activity and inflation data, but not sufficiently so to rule out the possibility that the Fed could still begin tightening at the Dec meeting (our view).
Danske: The FOMC meeting this week is unlikely to provide us with much new information. We expect to receive a statement but no updated projections or press conference. Along with consensus, we expect no change in policy at the meeting. We believe the Fed wants to keep all doors open at this point and will try to signal that a December rate hike is an option but by no means given. If markets keep still after the statement, we think the Fed can declare its mission accomplished. The tone on recent economic developments is likely to be more downbeat than in September but global economic and financial developments should have become less of a risk. In our view, the forward-looking part of the statement is likely to be kept broadly unchanged, as the Fed awaits more data before changing its view on the outlook.
TD: Without updated economic projections and an accompanying press conference, the bar for action at the October FOMC meeting is much higher than in September and December. Only if the economic data had improved materially versus the Fed's updated expectation outlined in September would a hike this week be warranted. Instead, the exact opposite scenario has unfolded.
Westpac: There is an almost nil probability of a rate hike occurring at the October meeting, with the December meeting instead the focus. Expect the October statement to carry a very similar tone to that of September, with the FOMC eagerly awaiting the release of Q3 GDP (the day after the meeting) as well as further updates on jobs and inflation.
The following are the expectations for today's FOMC October decision as provided by the economists at 20 major banks along with some thoughts on the USD into the event as provided by the FX strategists at these banks.
Goldman Sachs: We do not expect significant changes in the October FOMC statement. The statement is likely to acknowledge slower payroll gains while still describing growth as "moderate." We would view such an outcome as indicating that, despite the weaker-than-expected recent data, the leadership's baseline for liftoff remains December.
Morgan Stanley: The market appears to be expecting very little from this week's FOMC meeting. Our economists are also not expecting any change in the statement. But markets are likely to become more data sensitive in the run-up to the December meeting, where our economists still anticipate liftoff.
JP Morgan: We are expecting no change (which is virtually a unanimous market view), so the statement will be key. The extent to which the statement persuades the market that Dec is a real possibility will likely be the key driver of USD price action.
Deutsche Bank: DB's US economists expect the FOMC statement to be dovish one, with a more cautious tone relative to September, given the fact that the economy likely grew under 2% last quarter, and growth prospects for the current quarter are dimming in light of the sharp slowdown in the index of leading economic indicators. Moreover, the trajectory of consumer spending, the dominant driver of economic output, weakened intra-quarter (i.e., between July and September). The description of the labor market will surely have to to be toned down as well as the job market has meaningfully slowed over the past couple of months. The financial markets will treat the marking down of the Fed's near-term assessment of the economy as dovish, thereby further reducing the probability of a December 2015 rate hike. And if the Fed determines that it really wants to raise rates this year, the likely tightening in financial conditions that would accompany such a desire would give policymakers pause. Therefore, we do not expect a rate hike until the March 2016 meeting at the earliest
Barclays: We expect the FOMC to hold its monetary policy unchanged as we continue to look for an initial rate hike at the March 2016 meeting. Its statement will likely contain only minor adjustments and retain the language "recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term," in our view.
Credit Suisse: Our US economics team expects the Fed to mark to market its statement to take account of recent softness in US economic data. But they also expect the Fed to introduce a sentence that perhaps downplays the significance of the spillover from weaker global conditions in order to leave open some optionality for a December rate. hike. If the FOMC statement pans out as our economists expect, given that market pricing is at 36% for a December rate hike and that the first hike is not fully priced in until June 2016, the USD would see a net positive reaction in our view. Otherwise unless the Fed is dovish to the point of ruling out a December rate hike entirely, which would probably lead to USD losses of up to 2% against the majors over coming days, we would expect only limited USD movement. Under these circumstances, we would look to fade resulting USD weakness given our expectations for easing from the ECB and possibly other central banks in December.
BNPP: We expect Wednesday's FOMC statement to contain only modest dovish adjustments, with the Committee likely keen to leave open the possibility of delivering a hike in December if data improve. Given light long USD positioning as signalled by BNP Paribas positioning analysis, the USD should ride out the dovish adjustments relatively unscathed. Furthermore, monetary policy developments outside the US remain as important if not more important for near-term USD direction.
BofA Merrill: The October FOMC meeting is unlikely to deliver any major changes in policy or language, despite several Fed officials' recent attempts to characterize this meeting as "live". Without a forecast update or press conference scheduled, the focus will be on interpreting any revisions to the statement language. We expect relatively minor edits, however, and the interesting discussion won't appear until the minutes are released later in November. At this stage, we continue to see a relatively flat distribution for the timing of liftoff. December is our modal forecast for the first rate hike, but there is a significant chance that it could be later - depending on the upcoming data flow. No clear signals... once again "The FOMC has tried to dissuade markets from expecting any explicit signals about upcoming policy changes, emphasizing data dependence. As such, we anticipate no meaningful changes to the policy guidance language. That should not be read as a sign the Fed will not hike in December; rather that they are keeping all options open. We still see a significant chance that the FOMC will hike this year, but we likely will need to wait for subsequent speeches to get any clarity on the timing of liftoff.
Nomura: We don't expect the FOMC to change policy at today's meeting. At the moment, markets appear to assign about a one in three chance of "liftoff" in December. We do not think the FOMC will want to do anything at this point that reduces those odds. On the other hand, we do not think that the Committee is ready to send a strong signal that "liftoff" in December is likely. In the weeks after the October FOMC meeting we will get data that may help to clarify the outlook for the economy. Moreover, Yellen and other FOMC participants are scheduled to speak between the October and December meetings and therefore they will have the opportunity to clarify their intentions. Consequently, we do not think that the Committee is in a position to send a major signal about its policy intentions at this time.
RBS: RBS matches the consensus anticipating no change. With no press conference scheduled and no update to the Fed's projections for growth, inflation, or 'dots', the bar was already set fairly high for any change in policy. International developments and domestic data released since the September decision are unlikely to have increased the Fed's sense of "reasonable confidence" that inflation will rise over time. The fact that the FOMC will release only its post-decision FOMC statement this week severely limits the Fed's ability to communicate a change in policy outlook. In this sense, less news is good news for the USD - the fewer changes the FOMC makes, the more positive for the USD at the margin. But any USD gains inspired by an unchanged statement may prove fleeting, as participants quickly look to the commentary from FOMC officials and the minutes following the decision for a more detailed look at how the Fed's views on the outlook have evolved
Commerzbank: The Federal Open Market Committee (FOMC) members may have said time and again that they could hike rates at their October meeting, but the markets have not believed them. And with nobody expecting a rate hike today, we are won't see one. The Fed certainly will not want to wrong-foot the markets in the current environment. However, it will have to become more explicit in its communications if it wants to hike rates at any time in the future. Nevertheless, it is unlikely that it will clearly signal a rate hike in December today, as doing so would undermine its mantra of "data-dependency". The USD exchange rate will depend on what the Fed statement says on the recently weaker data. If the Fed believes that the US economy is still recovering nicely, the USD might trade somewhat firmer after the meeting, as the markets are currently overly cautious and predicting a rate hike only for March 2016. The Fed will certainly not sound even more pessimistic today. Rather, it might cautiously hint at approaching rate hikes. However, that will not be enough to justify EUR-USD to break out of its trading range of 1.08-1.15. The Fed's glass is only half full - note: "half".
SocGen: A policy move is really, really unlikely and I wouldn't hold out much hope of a shift in the policy statement to encourage pricing of a December hike (by, say, removing the reference to international developments in then assessments of risks). Can Fed dovishness calm global markets and stop the dollar's advance?. Oil price are one worry, and the precipitous fall in Bund yields another: 0.44% this morning. The Fed will have its work cut out tom prevent a slip in EUR/USD under 1.10 (towards 1.08) and that, in turn, will make the DXY chart look scary to technical analysts.
Credit Agricole: Today's key release is the October FOMC statement. Nevertheless, we think this will pass as non-event so markets more likely to focus on data releases. This reflects a general view that the chances of a rate hike this week are remote. What's more, there is no presser or forecast updates, leaving market participants to focus on the statement. This month's statement is unlikely to provide much clarity about the outlook for the FOMC policy rate so markets are left clinging to data releases for signals about the state of the economy. Despite the limited clarity on the Fed outlook, our focus persists on the strength of the domestic economy. As such we stay of the view that the central bank is likely to tighten monetary policy in December. As consensus expectations seem to favour a March lift-off such an outcome suggests room of rising Fed rate expectations to the benefit of the USD.
BTMU: The release of the latest FOMC policy statement will be scrutinized closely to see if it is consistent with market expectations which have pushed back the timing of the first Fed rate hike into next year. The statement is likely to acknowledge that economic and labour market growth has moderated recently which may satisfy market expectations looking for the Fed to delay raising rates. However, it remains unlikely that the Fed will explicitly rule out beginning to raise rates this year leaving the decision data dependent in the coming months. The US dollar may weaken modestly following the release of the statement but it is unlikely to derail its renewed upward momentum. The Fed still appears relatively hawkish when overseas central banks are increasingly shifting to ease monetary policy. The US dollar's recent rebound is unlikely to overly concern the Fed either as financial conditions have eased significantly since their last meeting in September.
CIBC: Our call for a December rate hike. But given a very divided Fed, expect the October meeting's statement to be very wishy-washy in terms of anything that might signal the timing of their lift-off.
SEB: -Unchanged Fed policy and few/no new signals tonight. Fed has signaled its willingness to raise rates for a long time now and there was scope to deliver during the summer. However, the signal of tighter monetary policy one year ago: 1) strengthened USD, 2) pressured the oil price and 3) created the basis for a (commodity driven) EM crisis. The dependence on the USD that Fed has signaled is surprising. That China is slowing down is not as surprising. The US economy is chugging along, but the pace is not convincing and inflation expectations are still under pressure. To make matters worse, the ECB has made life more difficult for the Fed.
UOB: Given that any expectations of an interest rate move have now evaporated and that there is no press conference scheduled after the event, there is a great deal hanging on the accompanying statement, which we think will likely be more downbeat than that issued in September in light of recent activity and inflation data, but not sufficiently so to rule out the possibility that the Fed could still begin tightening at the Dec meeting (our view).
Danske: The FOMC meeting this week is unlikely to provide us with much new information. We expect to receive a statement but no updated projections or press conference. Along with consensus, we expect no change in policy at the meeting. We believe the Fed wants to keep all doors open at this point and will try to signal that a December rate hike is an option but by no means given. If markets keep still after the statement, we think the Fed can declare its mission accomplished. The tone on recent economic developments is likely to be more downbeat than in September but global economic and financial developments should have become less of a risk. In our view, the forward-looking part of the statement is likely to be kept broadly unchanged, as the Fed awaits more data before changing its view on the outlook.
TD: Without updated economic projections and an accompanying press conference, the bar for action at the October FOMC meeting is much higher than in September and December. Only if the economic data had improved materially versus the Fed's updated expectation outlined in September would a hike this week be warranted. Instead, the exact opposite scenario has unfolded.
Westpac: There is an almost nil probability of a rate hike occurring at the October meeting, with the December meeting instead the focus. Expect the October statement to carry a very similar tone to that of September, with the FOMC eagerly awaiting the release of Q3 GDP (the day after the meeting) as well as further updates on jobs and inflation.
EXK breakout
And note
There is the new high in silver. Folks the bear market is over. You have to quit thinking in terms of a bear market now and start trading this with bull market strategies.
There’s almost no coverage of CISA by American mainstream media. We live in an oligarchy.
http://www.wirelessweek.com/news/2015/10/senate-passes-controversial-cybersecurity-bill
The Senate on Tuesday overwhelmingly approved the Cybersecurity Information Sharing Act (CISA), which would allow companies to share consumer data with the government in the event of cyber attacks.
The CISA aims to improve sharing of information on cyber threats between companies, and allows companies to share customer information with the Department of Homeland Security (DHS) without being in violation of existing privacy regulations, such as the Freedom of Information Act. The DHS can then share the information with the NSA and FBI as it feels is appropriate.
The legislation has been opposed by many in the tech industry, including by the Computer & Communications Industry Association (CCIA), which counts Sprint and T-Mobile among its member companies.
"CCIA is unable to support CISA as it is currently written. CISA’s prescribed mechanism for sharing of cyber threat information does not sufficiently protect users’ privacy or appropriately limit the permissible uses of information shared with the government," read the statement. In addition, the bill authorizes entities to employ network defense measures that might cause collateral harm to the systems of innocent third parties."
Of course all this while no one was watching...
The Senate on Tuesday overwhelmingly approved the Cybersecurity Information Sharing Act (CISA), which would allow companies to share consumer data with the government in the event of cyber attacks.
The CISA aims to improve sharing of information on cyber threats between companies, and allows companies to share customer information with the Department of Homeland Security (DHS) without being in violation of existing privacy regulations, such as the Freedom of Information Act. The DHS can then share the information with the NSA and FBI as it feels is appropriate.
The legislation has been opposed by many in the tech industry, including by the Computer & Communications Industry Association (CCIA), which counts Sprint and T-Mobile among its member companies.
"CCIA is unable to support CISA as it is currently written. CISA’s prescribed mechanism for sharing of cyber threat information does not sufficiently protect users’ privacy or appropriately limit the permissible uses of information shared with the government," read the statement. In addition, the bill authorizes entities to employ network defense measures that might cause collateral harm to the systems of innocent third parties."
Of course all this while no one was watching...
The Federal Reserve: Illusion of Understanding, Illusion of Control
http://www.oftwominds.com/blogoct15/fed-illusion10-15.html
The foundation of the illusion of understanding is data–Big Data. That the Fed has no idea of how the real economy actually functions is painfully apparent. But the state’s vast flood of data, neatly organized into slop-troughs that suggest precision, creates a very compelling illusion of understanding: media shills go to absurd lengths to treat bogus or marginal data as the equivalent of the tablets brought down by Moses.
Sorry, Corporate Media: the unemployment rate and the official rate of inflation are not real. They are illusions rigged to lull the masses and enrapture the simulacrum experts living high on the hog in academia, NGOs (non-governmental organizations) and think-tanks.
Here is the reality, as expressed by IMF Chairwoman Christine Lagarde: what passes for precise data is a guesstimate at best, and a carefully executed distortion at worst.
The foundation of the illusion of understanding is data–Big Data. That the Fed has no idea of how the real economy actually functions is painfully apparent. But the state’s vast flood of data, neatly organized into slop-troughs that suggest precision, creates a very compelling illusion of understanding: media shills go to absurd lengths to treat bogus or marginal data as the equivalent of the tablets brought down by Moses.
Sorry, Corporate Media: the unemployment rate and the official rate of inflation are not real. They are illusions rigged to lull the masses and enrapture the simulacrum experts living high on the hog in academia, NGOs (non-governmental organizations) and think-tanks.
Here is the reality, as expressed by IMF Chairwoman Christine Lagarde: what passes for precise data is a guesstimate at best, and a carefully executed distortion at worst.
Early look at U.S. trade in September signals big decline in deficit
An early look at U.S. trade patterns in September signals a big drop in
the nation's trade deficit. The trade gap in goods - services are
excluded - fell nearly 13% to $58.6 billion in September, the government
said Wednesday. The seasonally adjusted deficit in goods had shot up to
a revised $67.2 billion in August from $59.1 billion in July. The
government will release overall trade numbers for September on next
Wednesday, but the size of the trade deficit is generally tied to
changes in exports and imports of goods. Trade patterns involving
services such as banking and medical advice rarely change much from
month to month. The government reported last month that the total U.S.
trade deficit in August rose to a five-month high of $48.3 billion, as
exports fell to a three-year low. The full September report is likely to
show a springback in U.S. exports.
Cummins to Cut 2,000 Jobs Due to Weak Demand for Its Engines
http://abcnews.go.com/Business/wireStory/cummins-cut-2000-jobs-due-weak-demand-engines-34761419
Cummins plans to slash up to 2,000 jobs, almost 4 percent of its workforce, due to weaker demand for its engines. The company said it expects the weakness to continue and cut its revenue outlook for the year.
Shares of the Columbus, Indiana, company fell to its lowest point in nearly three years.
The job cuts, which are expected to be completed mostly by the end of the year, represent about 4 percent of the company’s total worldwide workforce of more than 54,600. The cuts will save Cummins between $160 million to $200 million a year, it said.
Cummins CEO Tom Linebarger said demand in Brazil and China has been low and shows “no signs of improvement in the near-term.” Demand for its generators and engines used in farming and construction equipment has been low and “worsening,” he said.
“Given the uncertainty in the global economy, we expect challenging conditions to persist for some time,” Linebarger said in a printed statement.
Cummins plans to slash up to 2,000 jobs, almost 4 percent of its workforce, due to weaker demand for its engines. The company said it expects the weakness to continue and cut its revenue outlook for the year.
Shares of the Columbus, Indiana, company fell to its lowest point in nearly three years.
The job cuts, which are expected to be completed mostly by the end of the year, represent about 4 percent of the company’s total worldwide workforce of more than 54,600. The cuts will save Cummins between $160 million to $200 million a year, it said.
Cummins CEO Tom Linebarger said demand in Brazil and China has been low and shows “no signs of improvement in the near-term.” Demand for its generators and engines used in farming and construction equipment has been low and “worsening,” he said.
“Given the uncertainty in the global economy, we expect challenging conditions to persist for some time,” Linebarger said in a printed statement.
IRS Uses Civil Forfeiture to Seize Millions of Dollars from Americans Who Haven’t Been Charged with a Crime
http://www.allgov.com/news/top-stories/irs-seizes-money-and-property-without-criminal-charges-150205?news=855583
The Internal Revenue Service (IRS) uses civil forfeiture to seize millions of dollars from Americans who haven’t been charged with a crime, according to the group Injustice for Justice.
The libertarian, civil liberties, public interest law firm says in a new report (pdf) that the IRS seized more than $242 million from 2,500 individuals and businesses from 2005 to 2012. The agency was able to take away such vast sums because of “lax civil forfeiture standards” that have permitted the IRS to “seize first and ask questions later.” As a result, people have had their bank accounts drained without the IRS putting any effort into investigating the situation. Property owners are then forced into a difficult legal battle to reclaim their money.
Many of the seizures come because the IRS suspects someone is “structuring” bank transactions in order to avoid a $10,000 limit over which a transaction must be reported to the IRS. Structuring is also illegal and the IRS has the power to use civil forfeiture to seize assets it believes are involved in such a scheme.
The Internal Revenue Service (IRS) uses civil forfeiture to seize millions of dollars from Americans who haven’t been charged with a crime, according to the group Injustice for Justice.
The libertarian, civil liberties, public interest law firm says in a new report (pdf) that the IRS seized more than $242 million from 2,500 individuals and businesses from 2005 to 2012. The agency was able to take away such vast sums because of “lax civil forfeiture standards” that have permitted the IRS to “seize first and ask questions later.” As a result, people have had their bank accounts drained without the IRS putting any effort into investigating the situation. Property owners are then forced into a difficult legal battle to reclaim their money.
Many of the seizures come because the IRS suspects someone is “structuring” bank transactions in order to avoid a $10,000 limit over which a transaction must be reported to the IRS. Structuring is also illegal and the IRS has the power to use civil forfeiture to seize assets it believes are involved in such a scheme.
Nationalist Chinese netizens are furious that their country didn’t take military action against the U.S.
http://foreignpolicy.com/2015/10/27/china-south-china-sea-nationalism-united-states-navy-lassen/
After learning that the U.S. naval operation was imminent, on Oct. 27 Chinese Foreign Minister Wang Yi warned the United States to “think again and not to act blindly or make trouble from nothing.” Calling the ship’s actions illegal, China’s Ministry of Foreign Affairs said the ship’s actions threatened regional peace as well as U.S.-China relations. “The actions of the U.S. warship have threatened China’s sovereignty and security interests, jeopardized the safety of personnel and facilities on the reefs, and damaged regional peace and stability,” the ministry stated on its website. The ministry did not indicate whether Beijing would consider a military response. “I have no comment on a hypothetical question,” Lu Kang, a foreign ministry spokesman, told assembled journalists on the afternoon of Oct. 27.
As the economy goes further and further into the dumpster of hell the drum beats of a Global war get louder and louder. Of course this is all a well scripted movie ( and the actors are terrible ).
The powers that be play " Sink my battleship " and destroy as much infrastructure as possible, and the peasants rebuild and call it jobs.
History repeats.....
After learning that the U.S. naval operation was imminent, on Oct. 27 Chinese Foreign Minister Wang Yi warned the United States to “think again and not to act blindly or make trouble from nothing.” Calling the ship’s actions illegal, China’s Ministry of Foreign Affairs said the ship’s actions threatened regional peace as well as U.S.-China relations. “The actions of the U.S. warship have threatened China’s sovereignty and security interests, jeopardized the safety of personnel and facilities on the reefs, and damaged regional peace and stability,” the ministry stated on its website. The ministry did not indicate whether Beijing would consider a military response. “I have no comment on a hypothetical question,” Lu Kang, a foreign ministry spokesman, told assembled journalists on the afternoon of Oct. 27.
As the economy goes further and further into the dumpster of hell the drum beats of a Global war get louder and louder. Of course this is all a well scripted movie ( and the actors are terrible ).
The powers that be play " Sink my battleship " and destroy as much infrastructure as possible, and the peasants rebuild and call it jobs.
History repeats.....
Tuesday, October 27, 2015
Whatever he is, Paul Ryan's no leader
He's more like Bert the Turtle, trying to keep his head down while someone else does the dirty work.
Ryan, the man who the Republican establishment wants to ascend to the role of House Speaker is currently trying to hide behind John Boehner's skirt as the outgoing Boehner works to cram through another betrayal of a budget that will fully fund Obama's agenda to fundamentally transform America through the end of the Obama administration.
How bad does Obama want Boehner's budget deal?
Perhaps enough to stir up a military distraction with China so most Americans won't notice the budget betrayal until its a done deal, and allowing Ryan, hand picked by the GOP's Quisling get along gang, ascends to his new role as speaker.
Question: Is the Obama team smart enough to play "wag the dog" without it blowing up in their faces?
Benedict Boehner
WORST TRAITOR to America since Julius and Ethel Rosenberg. If I were to write the History books, Boehner would be labeled in the index as the worst Speaker of the House since this Countries founding.
Lebanon seizes 2 tons of amphetamine being smuggled on Saudi prince's private jet
http://www.foxnews.com/world/2015/10/26/lebanon-seizes-2-tons-amphetamine-being-smuggled-out-on-private-jet-saudi/?intcmp=hphz11
A Saudi prince and four others have been arrested after Beirut authorities foiled one of the country's largest drug smuggling attempts, seizing two tons of amphetamine Captagon pills and cocaine before they were loaded onto the prince's private plane.
Prince Abdel Mohsen Bin Walid Bin Abdulaziz and the other Saudi citizens will be questioned by Lebanon’s customs authority, a source told News.com.au.
Captagon is the brand name for the amphetamine phenethylline, a synthetic stimulant. The banned drug is consumed mainly in the Middle East and has reportedly been used by ISIS in Syria.
Captagon manufacturing thrives in Lebanon and war-torn Syria, which have become a gateway for the drug to the Middle East, particularly the Gulf.
The U.N. Office of Drugs and Crime said in a 2014 report that the amphetamine market is on the rise in the Middle East, with busts mostly in Saudi Arabia, Jordan and Syria accounting for more than 55 percent of amphetamines seized worldwide.
2 tons? A quantity that large is not one of those " Gee Officer I have no idea how that got in there " moment.....
A Saudi prince and four others have been arrested after Beirut authorities foiled one of the country's largest drug smuggling attempts, seizing two tons of amphetamine Captagon pills and cocaine before they were loaded onto the prince's private plane.
Prince Abdel Mohsen Bin Walid Bin Abdulaziz and the other Saudi citizens will be questioned by Lebanon’s customs authority, a source told News.com.au.
Captagon is the brand name for the amphetamine phenethylline, a synthetic stimulant. The banned drug is consumed mainly in the Middle East and has reportedly been used by ISIS in Syria.
Captagon manufacturing thrives in Lebanon and war-torn Syria, which have become a gateway for the drug to the Middle East, particularly the Gulf.
The U.N. Office of Drugs and Crime said in a 2014 report that the amphetamine market is on the rise in the Middle East, with busts mostly in Saudi Arabia, Jordan and Syria accounting for more than 55 percent of amphetamines seized worldwide.
2 tons? A quantity that large is not one of those " Gee Officer I have no idea how that got in there " moment.....
PIMCO: Oil Price Headed Higher
The asset manager PIMCO forecasts Brent oil will rise to $60 a barrel in 2016
This combination of strong demand and slowing supply has reduced the likelihood of the doomsday scenario where stocks breach storage capacity and prices need to fall significantly to cause producers to shut down producing wells.A lynchpin to accelerating price inflation will be an oil price that stabilizes, never mind a climbing oil price. Prepare for accelerating price inflation.
U.S. Plans to Sell Down Strategic Oil Reserve to Raise Cash
http://www.bloomberg.com/news/articles/2015-10-27/u-s-plans-to-sell-down-strategic-oil-reserve-to-raise-cash
The U.S. plans to sell millions of barrels of crude oil from its Strategic Petroleum Reserve from 2018 until 2025 under a budget deal reached on Monday night by the White House and top lawmakers from both parties.
The proposed sale, included in a bill posted on the White House website, equates to more than 8 percent of the 695 million barrels of reserves, held in four sites along the Gulf of Mexico coast. Sales are due to start in 2018 at an annual rate of 5 million barrels, rising to 10 million by 2023 and totaling 58 million barrels by the end of the period. The proceeds will be “deposited into the general fund of the Treasury,” according to the bill.
The sale is the second time the U.S. has raised cash from the reserve, created as a counter-balance to the power of Arab producers after the first oil crisis of 1973-74. The U.S. may sell also additional barrels to cover a $2 billion program from 2017 to 2020 to modernize the strategic reserve, including building new pipelines.
I am not a big fan of the US government stockpiling any resources, but this sale is a sign of desperation.
Judge dismiss Jury for not being black
Folks, losing the judiciary to the progressive socialist agenda is like losing a cornerstone of our republic. It is that serious.
A black judge from Louisville, KY (Mitch McConnell’s town having a
national reputation for judicial corruption) named Olu Stevens has
dismissed TWO JURY PANELS because it only picked one black juror–and
that is not enough in his corrupt opinion. The defendant is black. This level of corruption cannot be minimized. Juries are picked using a voir dire system that weeds out jurors that may be prejudicial for any side. The defense often has a near UNLIMITED number of prospective
jurors that they can throw out for ANY REASON AT ALL.
THIS IS OUR CONSTITUTIONAL SYSTEM FOR FINDING MEMBERS OF THE COMMUNITY TO FAIRLY SERVE ON A JURY!
No judge has the right to over-write the will of the community when it conforms to the constitutional mandates of law. If this is allowed to stand, liberal judges around the nation will begin to assert their personal opinions on finding jury members that will conform to what they believe should be the outcome of the trial. In another words…our legal systems will have vanished. Judges will
decide all criminal cases by instituting the members of the jury they want.
This corruption is big. We have lost so much to the tyranny of the left. If the legal system is lost…all is lost with it.
A black judge from Louisville, KY (Mitch McConnell’s town having a
national reputation for judicial corruption) named Olu Stevens has
dismissed TWO JURY PANELS because it only picked one black juror–and
that is not enough in his corrupt opinion. The defendant is black. This level of corruption cannot be minimized. Juries are picked using a voir dire system that weeds out jurors that may be prejudicial for any side. The defense often has a near UNLIMITED number of prospective
jurors that they can throw out for ANY REASON AT ALL.
THIS IS OUR CONSTITUTIONAL SYSTEM FOR FINDING MEMBERS OF THE COMMUNITY TO FAIRLY SERVE ON A JURY!
No judge has the right to over-write the will of the community when it conforms to the constitutional mandates of law. If this is allowed to stand, liberal judges around the nation will begin to assert their personal opinions on finding jury members that will conform to what they believe should be the outcome of the trial. In another words…our legal systems will have vanished. Judges will
decide all criminal cases by instituting the members of the jury they want.
This corruption is big. We have lost so much to the tyranny of the left. If the legal system is lost…all is lost with it.
New Enrons EVERYWHERE! There is Moral Hazard EVERYWHERE from Glencore to Trafigura to Deutsche Bank…all unwinding and imploding because they thought they were SO SMART.
http://sgtreport.com/
Moral hazard is a situation in which one party gets involved in a risky event knowing that it is protected against the risk and the other party will incur the cost.
Hmmm…
In the case of $90B market cap implosion Enron, it was a structuring of off-balance sheet entities that were used to artificially boost sales, hide questionable activities, skirt the regulators/auditors and enrich senior management that thought they were SO SMART at running the con that they obviously deserved a big payout.
It didn’t work out so well for Enron in the end.
Fast forward to today and there is Moral Hazard EVERYWHERE from Glencore to Trafigura to Deutsche Bank…all unwinding and imploding because they thought they were SO SMART.
Now we have an almost identical situation at a $90B market cap drug company called Valeant Pharmaceuticals. Today they came out and denied everything in a conference call (just like Enron did) but the evidence is mounting that the off-balance sheet entities were set up and structured to do the EXACT same thing as Enron’s…
1) Artificially boost sales
Moral hazard is a situation in which one party gets involved in a risky event knowing that it is protected against the risk and the other party will incur the cost.
Hmmm…
In the case of $90B market cap implosion Enron, it was a structuring of off-balance sheet entities that were used to artificially boost sales, hide questionable activities, skirt the regulators/auditors and enrich senior management that thought they were SO SMART at running the con that they obviously deserved a big payout.
It didn’t work out so well for Enron in the end.
Fast forward to today and there is Moral Hazard EVERYWHERE from Glencore to Trafigura to Deutsche Bank…all unwinding and imploding because they thought they were SO SMART.
Now we have an almost identical situation at a $90B market cap drug company called Valeant Pharmaceuticals. Today they came out and denied everything in a conference call (just like Enron did) but the evidence is mounting that the off-balance sheet entities were set up and structured to do the EXACT same thing as Enron’s…
1) Artificially boost sales
Citi Testing Out Cardless, Eye Scanning ATM
http://thomasdishaw.com/citi-testing-out-cardless-eye-scanning-atm/
While it sounds like something out of “The Jetsons,” there soon might be an ATM that can identify you just by scanning your eyes. Diebold, a company that designs and markets ATMs, is partnering with Citigroup to test a new high-tech, mobile-friendly machine that would allow customers to do away with the current model of carrying around a plastic card.
Diebold is introducing the “Irving model” this week at Money20/20, a financial services trade show in Las Vegas. The machine is being tested by Citigroup in New York.
While it sounds like something out of “The Jetsons,” there soon might be an ATM that can identify you just by scanning your eyes. Diebold, a company that designs and markets ATMs, is partnering with Citigroup to test a new high-tech, mobile-friendly machine that would allow customers to do away with the current model of carrying around a plastic card.
Diebold is introducing the “Irving model” this week at Money20/20, a financial services trade show in Las Vegas. The machine is being tested by Citigroup in New York.
New Federal Gun Bill Would Tax You $100 Per Gun If Passed, Funds Go To Anti-Violence And Mental Health Programs
http://concealednation.org/2015/10/new-federal-gun-bill-would-tax-you-100-per-gun-if-passed-funds-go-to-anti-violence-and-mental-health-programs/
Let’s say you’re a dedicated anti-gun politician. Things haven’t been really going your way in recent years. Not only are Americans are buying more guns than ever before, but at the same time that the number of guns increased by 50 percent to over 300 million, violent crime dropped to historic levels. That kinda makes it hard to argue that the problem is, you know, guns. What’s worse, the public seems to be catching on to all that. So what’s an anti-civil rights nanny state legislator to do? Simple! Make it more expensive for all those psycho gun nuts to buy their instruments of death . .
If they tax Violence, then Detroit's budget should be balanced within the next five minutes....
Let’s say you’re a dedicated anti-gun politician. Things haven’t been really going your way in recent years. Not only are Americans are buying more guns than ever before, but at the same time that the number of guns increased by 50 percent to over 300 million, violent crime dropped to historic levels. That kinda makes it hard to argue that the problem is, you know, guns. What’s worse, the public seems to be catching on to all that. So what’s an anti-civil rights nanny state legislator to do? Simple! Make it more expensive for all those psycho gun nuts to buy their instruments of death . .
If they tax Violence, then Detroit's budget should be balanced within the next five minutes....
Boehner-Obama Spending Deals Have Increased Debt $3,970,023,503,348.07… $33,832.64 Per Household… POLL: Use shutdown threats to cut spending
http://www.cnsnews.com/news/article/terence-p-jeffrey/boehner-obama-spending-deals-have-increased-debt-397002350334807
The federal debt has increased by $3,970,023,503,348.07 since House Speaker John Boehner cut his first spending deal with President Barack Obama in 2011.
That equals $33,832.64 for every household in the United States.
After the Republicans won a majority of the House of Representatives in the 2010 elections, Boehner was elected speaker in January 2011. At that time, the government was operating under a continuing resolution that expired on March 4, 2011. Before that CR expired, Boehner cut a spending deal that President Obama signed to fund the government after that date.
http://apnews.myway.com/article/20151027/us--ap_poll-debt_limit-shutdown-451b6fe782.html
A divided public thinks it’s worth shutting the government or halting its ability to borrow to pay bills unless President Barack Obama consents to spending cuts, an Associated Press-GfK poll has found. Predictably, Democratic and Republican loyalists have starkly different views.
Some specific goals of GOP lawmakers fare poorly when they are in the balance: There’s little taste for forcing a shutdown over halting federal payments to Planned Parenthood, repealing Obama’s health care overhaul or blocking a nuclear deal with Iran.
The survey was conducted earlier this month as Obama and the GOP-controlled Congress crept toward a pair of deadlines that, without action, could trigger jolting political and economic reverberations.
Republican congressional leaders struck a deal with their Democratic counterparts late Monday on a two-year budget deal aimed at averting a debt crisis and shuttering the government. A vote could come as early as Wednesday in the House. Failure to extend the government’s ability to borrow money by early November could spark a destabilizing, first-ever federal default, while a partial government shutdown would begin if lawmakers don’t approve money by Dec. 11 to keep agencies running.
The federal debt has increased by $3,970,023,503,348.07 since House Speaker John Boehner cut his first spending deal with President Barack Obama in 2011.
That equals $33,832.64 for every household in the United States.
After the Republicans won a majority of the House of Representatives in the 2010 elections, Boehner was elected speaker in January 2011. At that time, the government was operating under a continuing resolution that expired on March 4, 2011. Before that CR expired, Boehner cut a spending deal that President Obama signed to fund the government after that date.
http://apnews.myway.com/article/20151027/us--ap_poll-debt_limit-shutdown-451b6fe782.html
A divided public thinks it’s worth shutting the government or halting its ability to borrow to pay bills unless President Barack Obama consents to spending cuts, an Associated Press-GfK poll has found. Predictably, Democratic and Republican loyalists have starkly different views.
Some specific goals of GOP lawmakers fare poorly when they are in the balance: There’s little taste for forcing a shutdown over halting federal payments to Planned Parenthood, repealing Obama’s health care overhaul or blocking a nuclear deal with Iran.
The survey was conducted earlier this month as Obama and the GOP-controlled Congress crept toward a pair of deadlines that, without action, could trigger jolting political and economic reverberations.
Republican congressional leaders struck a deal with their Democratic counterparts late Monday on a two-year budget deal aimed at averting a debt crisis and shuttering the government. A vote could come as early as Wednesday in the House. Failure to extend the government’s ability to borrow money by early November could spark a destabilizing, first-ever federal default, while a partial government shutdown would begin if lawmakers don’t approve money by Dec. 11 to keep agencies running.
Study: More Than Two-Thirds of Patients on Anti-Depressants Not Depressed
http://www.breitbart.com/big-government/2015/10/23/study-two-thirds-patients-anti-depressants-not-depressed/
The study, which appears in the Journal of Clinical Psychiatry, finds that many individuals who are prescribed and take antidepressant medications may not actually have a depressive disorder, and that such drugs are often used by patients who do not meet the diagnostic criteria of depression.
According to the research, among the users of antidepressant medications, 69 percent never met the diagnostic criteria for major depressive disorder (MDD), and 38 percent also never met those for obsessive-compulsive disorder, panic disorder, social phobia, or generalized anxiety disorder – for which the antidepressant medications are sometimes prescribed.
Other factors, however, unrelated to depression, were found to be associated with the use of antidepressants.
The study, which appears in the Journal of Clinical Psychiatry, finds that many individuals who are prescribed and take antidepressant medications may not actually have a depressive disorder, and that such drugs are often used by patients who do not meet the diagnostic criteria of depression.
According to the research, among the users of antidepressant medications, 69 percent never met the diagnostic criteria for major depressive disorder (MDD), and 38 percent also never met those for obsessive-compulsive disorder, panic disorder, social phobia, or generalized anxiety disorder – for which the antidepressant medications are sometimes prescribed.
Other factors, however, unrelated to depression, were found to be associated with the use of antidepressants.
October 2015 US consumer confidence 97.6 vs 103.0 exp / October 2015 US Richmond Fed manufacturing index -1 vs -3 exp
CC: Prior 103.0
The Conference Board said Tuesday that consumer confidence in October fell to a reading of 97.6, down from a revised 102.6 in September
RF: Prior -5
The Conference Board said Tuesday that consumer confidence in October fell to a reading of 97.6, down from a revised 102.6 in September
RF: Prior -5
Services sector gauge at lowest level since January: Markit
- Prior 55.1
- Employment 52.7 vs 54.9 prior
- Prices charged 50.5 vs 49.0 prior
- Composite 54.5 vs 55.0
- New orders 54.8 vs 55.3 prior
We are in a recession...bottom line.
More proof that liberals are completely insane....
http://www.theblaze.com/stories/2015/10/27/msnbc-host-leaves-guest-visibly-stunned-when-she-tells-him-why-he-shouldnt-ever-call-someone-a-hard-worker/
Her comments came after one of her guests, Alfonso Aguilar of the American Principles Project’s Latino Partnership, called Paul Ryan the best example of a “hard worker” in Washington.
“I just want to pause on one thing,” Harris-Perry interrupted, “because I don’t disagree with you that I actually think Mr. Ryan is a great choice for this role. But I want us to be super careful when we use the language ‘hard worker.’ Because I actually keep an image of folks working in cotton fields on my office wall, because it is a reminder about what hard work looks like.”
Perry went on to tell a visibly stunned Aguilar that “in the context of relative privilege, I just want to point out, that when you talk about work-life balance and being a hard worker, the moms who don’t have health care who are working…we don’t call them hard workers.”
Instead, she argued, “We call them failures, people who are sucking off the system.”
Her comments came after one of her guests, Alfonso Aguilar of the American Principles Project’s Latino Partnership, called Paul Ryan the best example of a “hard worker” in Washington.
“I just want to pause on one thing,” Harris-Perry interrupted, “because I don’t disagree with you that I actually think Mr. Ryan is a great choice for this role. But I want us to be super careful when we use the language ‘hard worker.’ Because I actually keep an image of folks working in cotton fields on my office wall, because it is a reminder about what hard work looks like.”
Perry went on to tell a visibly stunned Aguilar that “in the context of relative privilege, I just want to point out, that when you talk about work-life balance and being a hard worker, the moms who don’t have health care who are working…we don’t call them hard workers.”
Instead, she argued, “We call them failures, people who are sucking off the system.”
Russia and China Increase Gold Holdings As Central Banks Continue Loose Monetary Policies
http://goldsilverworlds.com/investing/russia-and-china-increase-gold-holdings-as-central-banks-continue-loose-monetary-policies/
Even though the price of gold failed to make a decisive break above the 200 day Moving average, the price looks set to continue its upward trajectory. However, one can expect some resistance close to the 200 day MA at around the $1185 an ounce level.
After briefly breaching $1190 an ounce level, gold prices came under some renewed selling pressure as the U.S dollar gained against it major peers especially the euro.
The rally in the greenback was sparked when European Central Bank (ECB) president Mario Draghi announced that the central bank would not cut rates, but at the same time, he strongly hinted that they would act later this year. The ECB left the main refinancing rate unchanged at 0.05%. The marginal lending rate also stayed unchanged at 0.3% and the deposit rate at -0.2%.
At the press conference, President Mario Draghi acknowledged that the QE program has been “proceeding smoothly” but also suggested that the ECB is concerned about the slowdown in emerging markets and as such the central bank would re-examine its bond buying program in December.
According to Draghi the ECB could extend its current programme of Euro-QE beyond its current expiration date of September 2016 or even cut interest rates deeper into negative territory. The bank’s deposit rate is currently minus-0.2%.
Even though the price of gold failed to make a decisive break above the 200 day Moving average, the price looks set to continue its upward trajectory. However, one can expect some resistance close to the 200 day MA at around the $1185 an ounce level.
After briefly breaching $1190 an ounce level, gold prices came under some renewed selling pressure as the U.S dollar gained against it major peers especially the euro.
The rally in the greenback was sparked when European Central Bank (ECB) president Mario Draghi announced that the central bank would not cut rates, but at the same time, he strongly hinted that they would act later this year. The ECB left the main refinancing rate unchanged at 0.05%. The marginal lending rate also stayed unchanged at 0.3% and the deposit rate at -0.2%.
At the press conference, President Mario Draghi acknowledged that the QE program has been “proceeding smoothly” but also suggested that the ECB is concerned about the slowdown in emerging markets and as such the central bank would re-examine its bond buying program in December.
According to Draghi the ECB could extend its current programme of Euro-QE beyond its current expiration date of September 2016 or even cut interest rates deeper into negative territory. The bank’s deposit rate is currently minus-0.2%.
Global shipping
Recession is already in play...just masked by CB intervention. Global shipping has been collapsing. Headed toward 5 yr low.
http://www.harperpetersen.com/harpex/harpexRH.do?timePeriod=Years5&&dataType=Harpex&floatLeft=None&floatRight=None
http://www.harperpetersen.com/harpex/harpexRH.do?timePeriod=Years5&&dataType=Harpex&floatLeft=None&floatRight=None
August 2015 US Case Shiller 20 city house price index +0.1% vs +0.1% exp m/m
- Prior -0.2%
- 5.1% vs 5.1% exp y/y. Prior 5.0%
- US HPI 0.44% vs 0.37% prior m/m. Revised to 0.31%
- 4.68% vs 4.80% exp y/y. Prior 4.69%. Revised to 4.56%
Durable-goods orders fall 1.2% in September, marks second straight drop
- Prior -2.3%. Revised to -3.0%
- Ex-transport -0.4% vs 0.0% exp m/m. Prior -0.2%. Revised to -0.9%
- Ex-Def -2.0% vs -1.3% prior m/m. Revised to -2.1%
- Cap goods orders non-def ex-air -0.3% vs 0.0% exp m/m. Prior -0.8%. Revised to -1.6%
- Cap goods shipments non-def ex-air 0.5% vs 0.4% exp m/m. Prior -0.4%. Revised to -0.8%
IRS possessed Stingray cellphone surveillance gear, documents reveal
http://www.theguardian.com/world/2015/oct/26/stingray-surveillance-technology-irs-cellphone-tower
The Internal Revenue Service is the latest in a growing list of US federal agencies known to have possessed the sophisticated cellphone dragnet equipment known as Stingray, according to documents obtained by the Guardian.
Invoices obtained following a request under the Freedom of Information Act show purchases made in 2009 and 2012 by the federal tax agency with Harris Corporation, one of a number of companies that manufacture the devices. Privacy advocates said the revelation “shows the wide proliferation of this very invasive surveillance technology”.
The Internal Revenue Service is the latest in a growing list of US federal agencies known to have possessed the sophisticated cellphone dragnet equipment known as Stingray, according to documents obtained by the Guardian.
Invoices obtained following a request under the Freedom of Information Act show purchases made in 2009 and 2012 by the federal tax agency with Harris Corporation, one of a number of companies that manufacture the devices. Privacy advocates said the revelation “shows the wide proliferation of this very invasive surveillance technology”.
The IRS is the collection agency for the Fed. And if anyone believes they are not gathering content and just "metadata" well I have a bridge for sale if any one is interested.
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