I have had a problem with the way society is portrayed since a young age. Being from a family that adopted myself and three other siblings, I have always felt lucky, grateful and believed there were people doing amazing things all the time.
I still and always will believe this because I have seen it with my own eyes and lived it in my own life. There are so many countless [...]
@W7VOA: TEPCO: Cooling system not working at No. 3 spent fuel pool at #Fukushima-1 #nuclear power plant.
Great. More nuke issues.
Here’s the link:
Tokyo Electric Power (TEPCO) said an alarm sounded at the facility at 2:27 p.m., and technicians soon confirmed that the cooling system was not working for the pool attached to the No. 3 reactor.
“We have no information at hand about the cause,” a TEPCO spokesman said in Tokyo. But [...]
China Local Government Debt to Reach 16.3 trillion Yuan in 2013
“As China’s local governments cash in on real estate development, they’re amassing a lot of debt at the same time.
Huatai Securities, a major Chinese securities broker says local government debt could reach 16.3 trillion yuan this year. That’s around $2.5 trillion US dollars, and almost 30% of China’s GDP.”
“The threat of a banking collapse is very real concern for the [...]
By Mike “Mish” Shedlock
Bloomberg reports Japan Machinery Orders Fall 13% in Sign of Limits on Investment.
The decline from the previous month, announced by the Cabinet Office today in Tokyo, compared with the median estimate in a Bloomberg News survey of 26 economists for a 1.7 percent fall.
Today’s data are a reminder that business investment will not drive the recovery, said Izumi Devalier, a Japan economist at HSBC Holdings Plc in Hong Kong.
Reminder: The first exit polls from the Italian election will hit some time around 9 AM ET, before US markets officially open.
The hope for World markets/the EU/Italian elites is that the center-left parties get enough votes to form a stable majority.
The fear is that there will be a big surge for the conservative (Berlusconi) and populist (Beppe Grillo) movements, making a government untenable, and thus risking a backsliding of Italy’s [...]
Washington’s gamesmanship over the fiscal cliff raises a critical question: Does the US have budget rules and processes that are adequate for the nation’s looming crisis?
It does not — but today’s 100th anniversary of the 16th amendment to the US Constitution offers a reminder that the republic was designed to adapt to such challenges. Read more
By Tyler Durden
After more than two months of political grandstanding, finally the $60 billion pork-laden Sandy relief aid bill has passed through the House in a 241-180 vote (with 1 democrat and 179 republicans voting no), with the vote passing courtesy of just 49 republicans who voted with the democrats. The reminder objected in protest “against a bill that many conservatives say is too big and provides funding for things other [...]
Howard Marks: “There Are Times For Aggressiveness; Now Is A Time For Caution”
Oaktree Capital’s Howard Marks begins his latest missive with a few hard truths. Anyone who has read his memos of the last 23 years will see he returns often to a few topics. This is due to the frequency with which themes tend to recur in the investment world. Humans, he notes, often fail to learn. They forget the [...]
The White House’s Flickr account recently released a photo of President Barack Obama and his top advisers. The complete absence of women in the image is another reminder that females are underrepresented in Obama’s staff.
Additionally, the president still pays his female employees significantly lessthan their male counterparts.
The Obama White House in 2011 paid female staffers 18 percent less than their male colleagues:
According to the 2011 annual report on White House staff, female employees earned a [...]
President Anibal Cavaco Silva called for urgent action to halt the “recessionary spiral”, warning Europe’s leaders that the current course had become “socially unsustainable”.
In a speech to the nation, he said Portugal would “honour its international obligations”, but in the same breath called for a tough line with the European Union-International Monetary Fund Troika over the pace of fiscal tightening under Portugal’s €78bn (£63bn) loan package. “We have arguments, and [...]
December 7, 2012
Japan escaped largely unscathed on Friday after a magnitude 7.3 earthquake shook the north-east coast. It was, however, a chilling reminder of the 9.0 quake that struck the area in March 2011, triggering a tsunami that killed almost 20,000 people and a triple meltdown at the nearby Fukushima Daiichi nuclear power plant.
Initially, the appearance on TV screens of a tsunami warning, and repeated announcements to remember last [...]
Amazing how a reelection can reshape an incumbent’s thinking about many things. Now safely ensconced in the White House for 49 more months, the Obamas have decorated the place with 54 Christmas trees this year.
Even allowing for the usual Washington excesses with taxpayer money, that’s a whole grove of Christmas trees.
“We have 54 trees in the White House,” an excited Michelle Obama proudly told visitors the other day. “54! That’s [...]
CHICAGO PMI RISES TO 50.4 — But Huge Drop In New Orders
from Chicago PMI:
Employment 55.2 vs. 50.35 prior. New orders 45.3 vs. 50.6 prior. Prices paid 70.1 vs. 59.3 prior. Inventories 47.1 vs. 49.6 prior. Supplier deliveries 57.3 vs. 50.4 prior.
Big jumps in supplier delivery times, employment, and prices look to be behind the improved headline read in the Chicago PMI, but the gauge’s best leading indicator – new orders – [...]
REMEMBER: Cell Phone Numbers Go Public this month.
REMINDER….. all cell phone numbers are being released to telemarketing companies and you will start to receive sales calls.
…. YOU WILL BE CHARGED FOR THESE CALLS
To prevent this, call the following number from your cell phone: 888-382-1222.
It is the National DO NOT CALL list It will only take a minute of your time.. It blocks your number for five (5) years.
You must call from [...]
NEW YORK (CBSNewYork) – The effort torestore power to those impacted by megastorm Sandy will apparently take longer than initially hoped.
Con Edison said Thursday that it expects to “restore the vast majority of customers who lost power by the weekend of Nov. 10 and 11. The remaining customer restorations could take an additional week more.”
As a reminder, a Con Ed “customer” is not necessarily an individual – it can be an entire building.
Con Ed [...]
What the Spanish rumor of a bailout lite (as a reminder, the full blown Spanish bailout has already been largely priced in, and today’s action is a very confused market pricing in a second, bailout-lite) giveth, Greece taketh away.
From ANA via From Bloomberg:
“A second meeting between the heads of the EU-IMF troika mission in Athens and Greek Labour Minister Yiannis Vroutsis on Tuesday afternoon ended abruptly a few minutes ago, after the [...]
They’re showing this on C-SPAN while waiting for the VP debate.
If you haven’t seen it, this is a reminder of how fearless Paul Ryan is, shredding Obamacare right in from of Obama and Biden.
Flight attendant Wendy Dye denied having the iPad when confronted
But when it was found in her home she admitted she kept it when a passenger handed it in after finding it left on a seat
A Nevada man who lost his iPad on an airplane used an app called ‘Find My iPad’ to locate it inside the home of a flight attendant in Oregon, according to police.
Wendy Ronelle Dye, 43, a [...]
The last time we looked at monthly Chinese imports of gold from Hong Kong in 2012, the comparable country in question was Portugal (whose citizens, if not central bank, incidentally haverun out of gold to sell), because that is whose total gold holdings (at 382.5 tons) Chinese imports had just surpassed. Fast forward a month later, and the update is even more disturbing. In July, Chinese gold imports from HK, after two [...]
Democrats arrived in Charlotte on Monday to an ill-timed reminder of one of the issues plaguing President Barack Obama’s reelection bid: high gasoline prices.
Prices at the pump reached a national average of $3.83 Monday, according to AAA, setting a record high for a Labor Day. The previous Labor Day record of $3.69 was set in 2008, at the height of the last presidential election fight.
Gas prices have increased by 23 [...]
From Pragmatic Capitalism:
Just a brief seasonal update here for those who are data wonks. According to the Stock Trader’s Almanac, September is the worst month of the year, but tends to start strong and end weak:
- Start of business year, end of vacations, and back to school made September a leading barometer month in first 60 years of 20th century, now portfolio managers back after Labor Day tend to clean [...]
KABUL, Afghanistan (AP) — Insurgents beheaded 17 civilians in a Taliban-controlled area of southern Afghanistan, apparently because they attended a dance party that flouted the extreme brand of Islam embraced by the militants, officials said Monday.
The killings, in a district where U.S. Marines have battled the Taliban for years, were a reminder of how much power the insurgent group still wields in the south — particularly as international forcesdraw down and hand areas over to [...]
Just a reminder.Shipping companies start losing money below 1200.Which explains some of the oldest and largest shipping companies filing bankruptcy or closing all together in the last month and a half.
The world’s oldest shipping company sold its last vessel and is going out of business, according to the liquidator.
Stephenson Clarke Shipping Ltd., started in 1730, has been placed into liquidation, according to a statement from accounting firm Tait Walker. The [...]
The economic crisis in Greece continues to weigh on the country’s 11.3 million citizens — with Prime Minister Samaras desperately trying to secure additional time to get the nation’s books in order.
A Business Insider reader traveling in Thessaloniki, Greece submitted pictures of his travels through the country this week.
If nothing less, the images are a reminder that the renewed conversation Eurozone leaders are having over the Greek bailout has massive impact on a very human face.
Groundbreaking on new U.S. homes unexpectedly fell in July and gains from the prior month were revised lower, a reminder of the housing markets weakness despite some recent signs of recovery.
The Commerce Department said on Thursday that housing starts dropped 1.1 percent last month to a seasonally adjusted annual rate of 746,000 units.
The reading, which is prone to significant revisions, was below the median forecast in a Reuters poll of [...]
From The Reformed Broker:
This is a tough year for all investors, despite what the index says it’s done year-to-date. This morning’s daily affirmation comes in the form of a reminder:
Even the most brilliant investors don’t get ‘em all right. The world’s best asset allocator, Ray Dalio, has negative YTD performance numbers for the first half of this year. Louis Bacon just gave his investors their money back rather than feel [...]
by Phoenix Capital Research
The markets are continuing their short squeeze, Euro-phoria induced lunacy. As a quick reminder the S&P 500 is up nearly 5% while many European indexes have rallied double digits (Spain’s Ibex is up an unbelievable 17%!)
In light of this, we need to take a look at the facts, because much of this feels too much like 2008 (at that time the S&P 500 rallied 7%, 11%, even 18% [...]
German daily newspaper Bild is famous for its anti-bailout, anti-inflation tendencies.
Ahead of today’s ECB decision — wherein it’s widely predicted that that Mario Draghi will do something to stem high borrowing costs – Bild is running a hilarious piece about how it wants a Prussian spiked helmet that it gave to Draghi upon his assumption of the ECB chair position.
Apparently the gift was given as a reminder for him to be “German” [...]
Nanning Gymnasium in Nanning, China, is one of many ruthless training camps in China
Here children, some as young as five, battle to complete the demanding routines on bars, rings, and mats
Her face etched with pain, a child trains for Olympic glory while her gymnastics trainer stands on her legs.
The cartoon space rockets and animal astronauts on her tiny red leotard are a stark and powerful reminder of this little girl’s [...]
Mitt Romney Gives a Tweet Out to Ron Paul’s Audit the Fed:
Ron Paul’s “Audit The Fed” bill is a reminder of his tireless efforts to promote sound money and a more transparent Federal Reserve.
HR 459, Audit the Fed, Vote on Tuesday, July 24
The House will be voting on Ron Paul’s HR 459, the Federal Reserve Transparency Act, on Tuesday, July 24.
As of July 18, HR 459 has 270 cosponsors. If [...]
Prime Minister Benjamin Netanyahu accused Hezbollah of carrying out the attack in Burgas Bulgaria and called the terror group: “The long arm of Iran.”
Oil Spikes As Netanyahu Threatens Iran
The first on-the-record comments, regarding the bombing in Bulgaria, from Israel’s Netanyahu are not the most politically correct. His ire with the world’s ignorance of Iran’s terrorist-fostering position is very clear as are his threats and promises for retribution. Not good. And [...]
In an exclusive report Zero Hedge yesterday presented the connection between the 16 BBA member banks, and something far more sinister: the sleepy, quiet (just as they want it) universe of Swiss hedge funds and private banks. One of our key focuses was on a gentleman named Michael Zrihen. We said : “So allegedly Zrihen, who now works in Geneva (keep a note of this), manipulated Libor at CA, and is now [...]
I’ve been sentimental lately.
No, it’s not for the days when banks enjoyed top credit ratings. After 15 years in New York covering Wall Street from the epicenter of the industry in New York I am moving to the West Coast this month.
My departure has me thinking about changes in the industry during my time here, some of which I discussed in my MarketWatch column on June 19.
Another significant change, and one that [...]