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Pier Luigi Bersani has twice ruled out the possibility of a grand coalition with Silvio Berlusconi’s centre-right coalition, and Beppe Grillo’s Five Star Movement wants no part of overtures from Bersani. There is insufficient support for another technocrat. So, the logical conclusion is new elections are forthcoming. But when? Reader “AC” who is from Italy but now lives in France explains … Hi Mish, Now that elections are over and declarations have been made [...] JPMORGAN: The ‘Slowdown In Consumer Spending Has Arrived’ Last week’s release of personal spending data revealed that spending rose 0.2 percent in February, at the same pace as in January. When adjusted for inflation, though, the data are less encouraging. In a note to clients, JPMorgan economist Robert Mellman declares that the “consumer spending slowdown is here,” saying consumers are beginning to feel the effects of the payroll tax cut expiry and rising [...] McDonald’s Corp (MCD) said on Friday that January sales at established restaurants around the world fell 1.9 percent, a steeper decline than expected as fast-food chains fight for diners. … McDonald’s expected sales and profit growth to be under pressure in the near term, as diners spend cautiously due to lackluster economic growth in most major markets. At the same time, the leading fast food chain is comparing against strong results from [...] by GoldCore Gold Bullion Today’s AM fix was USD 1,696.50, EUR 1,297.32 and GBP 1,051.38 per ounce. Silver is trading at $32.58/oz, €24.99/oz and £20.29/oz. Platinum is trading at $1,621.50/oz, palladium at $697.00/oz and rhodium at $1,060/oz. Gold was up $1.30 or 0.08% in New York yesterday and closed at $1,711.30/oz. Silver slumped to a low of $32.21 and ended with [...] In the meantime, property developers continue to rally as maybe the government is done rolling out new market dampening measures. From Bloomberg: China’s home sales transaction value dropped 14.5 percent in July from the previous month as the government vowed to maintain curbs on the property market. The value of homes sold fell to 454.4 billion yuan ($71.5 billion) from 531.3 billion yuan in June, based on the difference between the National Bureau [...] (CNSNews.com) – This year, Americans have to work until July 15 to pay for the burden of government, more than six months. In a new report, Americans for Tax Reform (ATR) has calculated that Americans will spend a total of 197 days toiling to pay for the cost of government. http://cnsnews.com/news/article/americans-will-work-more-6-months-pay-cost-govt-2012 Remember when the entire segregated account fiasco was supposedly fixed in the aftermath of the November 2011 MF Global bankruptcy, and where regulators: the CFTC, the SEC, the CME, and anyone you asked, swore up and down this would never happen again? Turns out that 7 months later, the spirit of MFGlobal has struck again and it’s name is PFGBest, as we suggested first 3 hours ago when we broke [...] Couples are spending more money than ever on their big day, with the average wedding cost clocking $26,989. In a new study, Brides magazine has revealed that wedding costs are on the rise, increasing by over $8,000 from 2002. The magazine’s 2012 American Wedding Study also found that $1,355 is the average cost of a brides gown, while just $145 is spent on each bridesmaid dress. The cost of marriage: The average wedding cost sits at [...] Now its getting interesting. 30Y yields fell the most in 5 months today back to 5 month lows, 10Y yields crashed to all-time closing lows, and Gold surged by its most in 4 months (and 2nd most in 7 months) as stocks started to accelerate lower. Gold is unch on the week now as 30Y is -21bps and 10Y -14bps to 1 1.69% handle – incredible. Between the Philly Fed’s [...] Martial law update, remember they have been activating the FEMA camps, changing laws & NDAA Your world now is just an illusion: FEMA Camps And Gun Grabbing Troops, The Storm Is Coming John Moore first fought terrorism in 1967. He is still fighting it today. The family of a young girl who was left severely brain damaged from salmonella poisoning after eating a KFC chicken twister in Australia has been awarded A$8 million (£5.1m) in damages plus costs by the Supreme Court. But she will not see a cent for now – because KFC have made it clear they will appeal the ruling. Seven-year-old Monika Samaan became seriously ill after eating the chicken wrap at a KFC [...] by Joe Key thoughts: Consumer spending does remain strong. 0.8% growth in February was the best number in 7 months. Zero Hedge Remember when the US hiked its debt ceiling on Friday courtesy of a formulaic 52 affirmative votes in the Senate, giving the Treasury $1.2 trillion in dry debt powder to attempt to grow the economy one more time according to the algorithmic fantasies of voodoo priests with pieces of Ivy League parchment on their walls? Well, two days later, the dry powder is less than $1.1 trillion. In [...] While RealtyTrac reported a 7% increase in foreclosure activity in october over september’s count; the highest level it’s been in 7 months; in Nevada, where they passed a law effective October 1 that made it a felony to falsify a real estate title, foreclosures fell 88%…foreclosures also fell from triple digits per day to single digits after a similar law in new york was implemented, where attorneys are now required to verify the accuracy [...] Pittsburgh talk show host Mark Madden, who wrote an article seven months ago that foretold of the events that have unfolded over the last week, made an explosive allegation Thursday morning on a Boston radio station. “There is a rumor … Jerry Sandusky and The Second Mile were ‘pimping out’ kids to rich donors,” Madden said on WEEI-AM. Madden continued on, saying that Sandusky was forced into retirement in 1999 at the age [...] A pro-Qaddafi supporter in Tripoli Image: ap Qaddifi opposed having a central bank as he did not want libya to be under the control of the international banking cartel as is the case in the u.s. with the elite owned federal reserve controlling the u.s. economy and destroying what little is left of the middle class and small business. Liby also had light sweet crude which the elites wanted to liberate from the [...] Oct 20, 2011 (Mathaba/TSR) - Rumors are circulating once again with European and American leaders misinforming the public, and the usual media culprits Al-Jazeera and Al-Arabia broadcasting the occupation NTC (National Terrorist Council) claim of the capture or death of Muammar Gaddafi. Green Committees have confirmed that the leader is alive, and that the enemy is seeking to take advantage of his being currently out of communications. The aim is to please [...] by Plato
http://www.theoildrum.com/node/7751#comment-787554 Two extracts from the pdf at http://www.osti.gov/bridge/purl.cover.jsp?purl=/510336-qmwPBP/webviewable/ section 3.1: Configuration 1 – Hot Fuel in the Spent Fuel Pool “The end of Configuration 1 has been defined as the decay time that is necessary to ensure that the fuel rod cladding remains intact given a loss of all spent fuel pool water. The previous study7 defined 650°C as a maximum temperature for cladding integrity. The Workshop on [...] by Davos It’ll blow up in our faces soon. Look also at the derivatives, 200 tn on the banks here. All off balance. Having 1.7tn in assets and 87 tn in off balance derivatives is not salvageable. Let me say that again, just prolonging one big bank would be a Herculean task. Without a doubt it is “un-bailoutable”. Consumers make up for 70% of GDP. Look at this: they de-leveraged by 20 billion voluntarily and [...] |
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