Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles00:50Trending Articles02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Although the team had some semblance of success going up against the big guys of Ginebra in 7-foot Greg Slaughter and 6-foot-9 Japeth Aguilar, there was still the factor of getting banged up throughout 48 minutes.“We’re king of out of position, no matter who we put in now,” said Dickel Sunday at Philippine Arena.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSUrgent reply from Philippine football chiefSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool starsDon Trollano, who stands at 6-foot-3 and mainly plays out in the wings, was tasked to play power forward for TNT and help the 6-foot-6 Michael Miranda patrol the paint.“I thought Don was really good, I just thought he got worn down a little bit just having to guard bigger players the whole game,” said Dickel. “Hopefully, over the next months we can play a little bit better and get him more comfortable, and then our offense will look a bit smoother.” TS Kammuri to enter PAR possibly a day after SEA Games opening NBA champions Metta World Peace, Bill Wennington visit Manny Pacquiao TNT KaTropa. Photo by Tristan Tamayo/INQUIRER.netMANILA, Philippines—TNT team consultant Mark Dickel has drawn up a system suitable for his undersized lineup, but he still rued the glaring size difference between his team and Barangay Ginebra was still a tough bind.The KaTropa lost to the Gin Kings 90-79 in the PBA season opener in Dickel’s first game running the offense.ADVERTISEMENT Dickel didn’t have his normal power forward in 6-foot-7 Troy Rosario, who’s nursing a deformed nose after his face got hit with an inadvertent elbow from JR Quiñahan in tune-up game against NLEX before the New Year.TNT, though, had a mobile offense that made use of its guards and forwards but the only problem for the KaTropa was their shots just wouldn’t fall.The KaTropa shot the ball 41 times from beyond the arc but they converted only nine of those attempts.“Ultimately, in that game we had to make some more shots if we wanted to have a chance to really trouble them,” said Dickel.ADVERTISEMENT LATEST STORIES Don’t miss out on the latest news and information. Sports Related Videospowered by AdSparcRead Next SEA Games: Biñan football stadium stands out in preparedness, completion LOOK: Joyce Pring goes public with engagement to Juancho Triviño MOST READ SEA Games: Biñan football stadium stands out in preparedness, completion SEA Games hosting troubles anger Duterte Private companies step in to help SEA Games hosting LOOK: Joyce Pring goes public with engagement to Juancho Triviño View comments Is Luis Manzano planning to propose to Jessy Mendiola?
Jim Harbaugh MichiganMichigan’s satellite camp tour continued today in Los Angeles, and you know what the means. Jim Harbaugh had to show off another jersey ( or in his case shirsey) of a popular local player. Today, he chose Kobe Bryant. Tomorrow, Harbaugh and company will be in Hawaii, at St. Louis High School in Honolulu. Based off this picture he tweeted today, it looks like he’ll be wearing a Marcus Mariota Titans jersey for the occasion.Last minute shopping in L.A. All set for tomorrow, Thx Larry pic.twitter.com/cuw5nZvwCn— Coach Harbaugh (@CoachJim4UM) June 25, 2016Mariota is a Honolulu native and St. Louis High alum, so the shirt makes perfect sense.The Honolulu camp is the second-to-last one on Michigan’s schedule. The final one will be in American Samoa on June 30. read more
TRAVERSE CITY, Mich. – Consumers Energy will phase out electricity production from coal by 2040 to slash emissions of heat-trapping gases that cause global warming, the Michigan utility’s president and CEO told The Associated Press.The utility plans to generate 40 per cent of its power from renewable sources such as wind and solar energy by then, Patti Poppe said in an interview ahead of the public announcement Monday. She said the utility will also will rely on natural gas, hydropower and improved efficiency to meet customer needs.Consumers Energy and DTE Energy Co., which supply most of Michigan’s electricity, are among many U.S. providers moving away from coal even as President Donald Trump’s administration boosts fossil fuels and seeks to unravel former President Barack Obama’s policies that promoted cleaner power.“We believe that climate change is real and we can do our part by reducing our greenhouse gas emissions, and we also believe it doesn’t have to cost more to do it,” Poppe said. “We believe we’re going to be on the right side of history on this issue.”Coal is becoming less competitive as the cost of producing renewable energy steadily falls, she added.Environmental groups praised the move after the utility officially announced the move Monday. But they also urged the utility to make the transition from coal to renewable sources in less than 22 years.“It’s a great sign that the tide is turning,” said Kate Madigan, an energy policy specialist with the Michigan Environmental Council. “We’re looking forward to working with them and making sure they follow through on this commitment — and seeing if we can get there even faster.”Power companies are under increasing pressure to reduce emissions of carbon dioxide, which are trapping heat in the atmosphere and promoting what scientists describe as a dangerously warming climate that will endanger human health and natural systems.A 2016 state law set a renewables target for Michigan utilities of 15 per cent by 2021. Environmentalists are circulating petitions for a statewide ballot initiative that would require 30 per cent by 2030, which Consumers Energy and DTE have criticized as unnecessary.Poppe told the AP that Consumers Energy will file a plan by June with the Michigan Public Service Commission with a detailed timetable for phasing out coal and supplying its customers with power from a mix of renewable and traditional sources. Commission approval will be needed before the utility can proceed.The utility closed seven of its 12 coal-fired plants in 2016, which the company said had lowered its carbon generation by 38 per cent from 2008 levels. Its long-term strategy will yield an 80 per cent reduction in carbon emissions, Poppe said.Rapidly developing technology and falling prices are making green energy more cost-effective than it was even a decade ago, when many in the industry warned that mandating use of renewables would drive up rates. Particularly helpful are improvements of systems for storing renewable energy for use when the wind isn’t blowing or skies are cloudy, Poppe said.“We don’t have to make a sucker’s choice of either affordable prices or clean energy,” she said. “We can do what’s right for the planet and the customers we serve. We don’t think there’s a trade-off to be made here.”Consumers Energy owns two wind turbine farms and buys power from a third. It co-owns with DTE a hydroelectric plant on Lake Michigan. The utility says it is upgrading its natural gas infrastructure around the state.Along with its renewable energy plan, Consumers Energy also announced a five-year plan for reducing its environmental footprint that includes saving 1 billion gallons of water, reducing waste sent to landfills by 35 per cent and restoring or improving 5,000 acres of land.The utility says its customers include 6.7 million of Michigan’s 10 million residents.DTE last year pledged a carbon emissions cut of more than 80 per cent by 2050 by phasing out coal, boosting wind and solar energy, and building a 1,100-megawatt natural gas plant. The company described the new gas facility as essential to providing reliable and affordable power while reducing carbon emissions.Environmentalists contend DTE and Consumers Energy should make bigger commitments to renewables instead of gas.“Gas prices are unpredictable. They’re low now but there’s no certainty they will be in the long term,” said Margrethe Kearney, staff attorney with the Environmental Law and Policy Center. “There’s zero fuel costs for wind and solar.”___Follow John Flesher on Twitter at http://www.twitter.com/johnflesher___Sign up for the AP’s weekly newsletter showcasing our best reporting from the Midwest and Texas: http://apne.ws/2u1RMfv read more
German Bundesliga giants Bayern Munich have reportedly offered Chelsea’s Callum Hudson-Odoi an £85,000-a-week contract in a move considered to convince him to leave the Stamford bridge.The teenager has strongly been linked with a move to Bayern since the start of the month as his deal with Chelsea will expire at the end of next season.Chelsea recently offered the youngster a new contract in the region of £70,000 a week but with Bayern Munich’ latest offer, it is yet unclear if the player will remain with the English side.Match Preview: RB Leipzig vs Bayern Munich Boro Tanchev – September 14, 2019 RB Leipzig will have the chance to prove their title-winning capabilities when they host Bayern Munich today at 18:30 (CET).Sports mole reports that Hudson-Odoi has only played 51 minutes of Premier League football for the Blues during the 2018-19 campaign and is believed to be frustrated with what he perceives to be a lack of action at Stamford Bridge.Chelsea are currently playing in the Europa League. A move to Germany will see the youngster feature in the UEFA Champions League. read more
Bahamian music legend gunned down at home in Turks and Caicos Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsAppPRESS STATEMENT BYTHE RIGHT HONOUORABLE PERRY G. CHRISTIE, M.P.PRIME MINISTER & MINISTER OF FINANCEON COMMITTEE TO REVIEW AND MAKE RECOMMENDATIONS WITH RESPECT TO THE EXPIRATION OF CERTAIN PROVISIONS OF THE HAWKSBILL CREEK AGREEMENT AND OTHER APPROPRIATE MEASURES TO PROMOTE AND SUSTAIN ECONOMIC GROWTH IN GRAND BAHAMAMARCH 5th, 2015 As indicated in my extensive presentation this morning at the Grand Bahama Business Outlook. I have called this Press Conference to announce a timely significant intervention which my Government is making with a view to charting a path forward to positively impact economic growth in Grand Bahama within a framework suited to the present and future, that also has due regard to the provisions of The Hawksbill Creek Agreement.Certain provisions of The Hawksbill Creek Agreement with respect to exemptions on business licence fees and real property tax are due to expire in August of this year. For some time the Grand Bahama economy, despite the broad incentives and tax concessions under the Hawksbill Creek legislation, has remained stagnant with limited exceptions, thus adversely impacting economic growth in the private sector and Government revenues. In the absence of aggressive policy interventions to jumpstart a new round of development, and enhance returns on existing investments, Grand Bahama’s economic performance could remain sub-par relative to other islands in The Bahamas. Thus the expiration of these Hawksbill Creek Agreement incentives provides an opportunity for the Government to secure a comprehensive set of new arrangements which can spur economic development and increase the Island’s contribution to net fiscal receipts. Several months ago the Government retained the international consulting firm McKinsey and Co to consult with the Grand Bahama Port Authority and other stakeholders and to undertake a study of the economic situation within the Port Area, the implications of the expiring incentives, and measures which might be taken to spur economic development. McKinsey and Company has presented its Report to the Government.Following upon the McKinsey Report, the Government has therefore appointed a Committee to hold discussions and negotiations with representatives of the Grand Bahama Port Authority, investors, relevant public, private sector and community interests, with a view to making appropriate recommendations to the Government on arrangements for securing both an economic package to promote more robust sustained growth, and a fiscal package that enhances Grand Bahama’s contribution to the Government’s revenue base.In this regard there are several main objectives:(i) Agree with the Grand Bahama Port Authority and principal licensees a long term economic development plan which both protect and promote the shipping, industrial, logistics, tourism, real estate and other commercial sectors as the focus for Grand Bahama Island;(ii) Create a framework for immediate and long-term investment promotion on the island to attract investors which can operate assets competitively at a world class standard, and effectively and efficiently utilize the land resources with proper environmental safeguards;(iii) Ensure that the mechanisms are in place to align the Grand Bahama Port Authority’s quasi-regulatory authority with the policies of the Government and that a regulatory framework exists in keeping with present and changing international business best practices.(iv) Agree a suitable framework for property tax and business license that would note impede economic growth, and contribute along with other suitable measures to the enhancement of the Government’s revenue base.The Committee will report to a Ministerial sub-committee chaired by the Prime Minister and Minister of Finance. It is expected to conclude its work before the real property tax and business license exemptions expire in August 2015. The Committee is comprised of the following persons:Dr. Marcus Bethel, ChairmanSir Baltron BethelMr. James SmithMr. Kevin Seymour, President Grand Bahama Chamber of CommerceMr. Maurice MooreMs. Cassietta McIntoshThe Committee will carry out its duties in collaboration with and the support of the consulting firm of McKinsey and Company. It will be assisted by a technical team from the Office of the Prime Minister, the Ministry of Finance and the Office of the Attorney General. The Ministry for Grand Bahama would coordinate administrative support.My Government looks forward to the full cooperation of all concerned parties in facilitating the Committee’s work, and to a successful outcome of this important exercise. Related Items:bahamas, hawsbill, perry christie Bi-lateral talks with Bahamas to resume, UK gives green light to high-level TCI delegation Facebook Twitter Google+LinkedInPinterestWhatsApp Former PM And Deputy PM Christie and Davis Deep in Water Debt read more
The Crime Lab’s work on sexual assault kit testing is funded from two sources. Over the course of 2016 and 2017, DPS was the recipient of a $1.5 million in federal Sexual Assault Kit Initiative (SAKI) grants that will conclude in 2020. In 2017, the inventory found 2,979 previously unsubmitted, untested victim kits; in 2018, that number is down to 2,568, according to the annual report released by the Department of Public Safety. A former Alaska State Trooper Sergeant, Michael Burkmire, has began working on the backlog of state sexual assault cold cases. The Crime Lab anticipates testing through all the kits will take 3-4 years due to the size of the inventory, limited number of qualified labs, and high demand for SAK analysis service. Facebook0TwitterEmailPrintFriendly分享The state has already reduced the turnaround time for testing sexual assault kits, and the Crime Lab hopes to keep reducing that number. That funding goes to support the testing and investigation of previously unsubmitted, untested kits from Alaska State Trooper cases. All 577 viable AST kits have been submitted for analysis; results have been received for 340, and the remaining results are expected to be received by March of 2019. Earlier this year, the Legislature allocated $2.75 million in capital money to DPS to test kits from the other 47 police agencies across the state. In both cases, the Crime Lab is using the funds to have the kits tested as quickly as possible by a private lab, with results returned back to Alaska for analysis and potential entry into CODIS, according to the report from DPS. DPS Commissioner Walt Monegan: “Survivors of sexual assault deserve justice, and our ongoing efforts to test kits are a critical component in ensuring that victims receive that justice. DPS has made great strides to address the backlog of untested, unsubmitted SAKs; with the creation of the SAK website and SAT, we are doubling down on our commitment to secure justice for victims. They deserve no less.” read more
Kolkata: Firhad ‘Bobby’ Hakim, the soft-spoken boy from Chelta who has always received the blessings of all and sundry irrespective of caste, creed and religion because of his unique public relation acumen, has now been named Mayor of Kolkata Municipal Corporation (KMC), the country’ oldest civic body.On becoming the new Mayor, Hakim said: “I’m extremely thankful towards Chief Minister Mamata Banerjee for giving me this responsibility. I will try my best to live up to her expectations and will leave no stones unturned to deliver results.” Also Read – Rain batters Kolkata, cripples normal lifeThere was jubilation in Chetla, when Chief Minister Mamata Banerjee announced the name of Hakim as the new leader of KMC. He will formally take on the mantle of Mayor after completion of the necessary formalities. Hakim, gifted with a natural ability to lead, became quite famous in Chetla in the early 1980s, when the undisputed leader of the area was Moni Sanyal, the Deputy Mayor of KMC between 1985-1990. From a very young age, Bobby used to organise football tournaments and blood donation camps. Everybody in the area knew that he would always be available in their time of need, be it for organising marriage of poor girls or taking critical patients to hospitals during the oddest hours. Hakim became a councillor in 2000 and later became the Member, Mayor-in-Council (Roads). When Trinamool Congress came to power, he was elected to the post of minister. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedThough known for being a hard taskmaster, the TMC veteran enjoys extremely cordial relations with his department officers. His dedication was silently displayed through the number of times he visited the Biswa Bangla Convention Centre during its construction, to ensure that it becomes the most important structure in post-Independence Kolkata and stand proud as the country’s biggest convention centre. He had held several meetings with the senior officials of the construction company and also met the workers and motivated them. Bobby, an ardent lover of sports, has set up one of the finest gymnasiums in the city at Chetla. He is a seasoned badminton and billiards player himself and has taken steps to ensure that the children and youth of his area get ample scope to play outdoor games. The newly named Mayor has been associated with Durga Puja since his school days and is respected by all for his secular views. Notable, he is the first Mayor from the Muslim community in the city after Independence. The erstwhile Calcutta had five Muslim Mayors before Independence. A K Fazlul Haque was the Mayor from April 1935 to April 1936, while A K M Zakariah served as the Mayor from April 1938 to April 1939. Abdur Rahman Siddiqui took on the mantle from April 1940 to April 1941, while Syed Badrudduja and Syed Mohammad Usman followed suit from April 1943 to April 1944 and April 1946 to April 1947 respectively. Once journalists had quizzed Kamal Basu, the first Mayor under the Member, Mayor-in-Council system about the qualities required to run KMC, to which his reply was “patience, public relations and hard work”. Hakim is a leader who possesses all the three qualities and Kolkatans believe that the city will witness significant progress under his leadership. read more
An exhibition of Himveer Wives Welfare Association (HWWA) showcasing stalls from field units and formations of Indo-Tibetan Border police (ITBP), was inaugurated by Savitri Singh, wife of Rajnath Singh, Union Home Minister and Anupriya Patel, MOS Health and Family Welfare in the national Capital recently. This exhibition has been organized on the occasion of 55th Raising Day celebrations of the Force. Functioning from initial years of ITBP, HWWA has been active in organizing welfare activities for the families of the Force and Civil population in border areas. Also Read – Add new books to your shelfSingh in her inaugural speech said that HWWA’s efforts are commendable in the field of welfare activities in ITBP. Referring to the visit of Rajnath Singh to one of the forward post of ITBP in Ladakh where he spent a night with himveers, Singh said that she can feel the emotions of Himveer families as how their husbands are working in harsh climatic areas in high Himalayas to serve the motherland while their families remain away. The annual HWWA souvenir– ‘Parampra’ was also released by the Chief Guest and the Guest of Honour on the occasion. Also Read – Over 2 hours screen time daily will make your kids impulsiveSingh and Patel also took a round of stalls and appreciated the efforts of ITBP for welfare of its families and border population. The exhibition also showcases the rare artifacts, handicrafts and cultural heritage of the Himalayas and northeastern region of India. HWWA works for the welfare of the families of the Force personnel with a specific focus on women empowerment. It trains families in food processing, tailoring, weaving, stitching, painting, child care etc. The doctors of the Force give information on wellness, hygiene, prevention of HIV/AIDS, family planning to improve the quality of life of the Force personnel and their families. For welfare of these families, perception management centers are being operated by HWWA in remote border Units of ITBP. HWWA also organizes Carrier Counseling Mela/Workshop for the wards of ITBP personnel. Keeping the Children of ITBP personnel healthy, d-worming drive is also taken. NIT courses are being organised for Jawans families also. There will be numerous cultural performances by the Force personnel along with show by ITBP’s Jazz, Brass and Pipe Band. The exhibition will remain open for the public from October 15 to 17. read more
March 3, 1997Finishing the floor slab in the new recycling area.
German free-to-air entertainment channel Ebru TV has rebranded as QLAR. The Offenbach-based channel airs a mix of movies, series, documentaries, magazine shows and tele-shopping windows.The channel is available via the Astra satellite position at 19.2° East and is carried by cable operators Tele Columbus and Wilhelm.tel. it is also available on OTT service Zattoo, along with on-demand programming.
By David Galland, Casey ResearchFor some time now – years actually – I have pondered the nature of liberty. Or more specifically, what liberty actually means to me. And to be extra clear, I am not talking about the meaning in abstract or philosophical terms, but tangibly – in much the same way I might answer if asked what my wife means to me.The trigger for this entirely personal discourse comes from reading various articles and viewing various YouTube videos and speeches from self-styled champions of liberty (COL). There is even an entire conference, Mark Skousen’s FreedomFest, dedicated to the topic.Invariably, these well-meaning COL rail against “The Man” (something I do myself), accentuating their public angst by sharing stories of being molested by the TSA or otherwise inconvenienced by minions of the state. It is my contention that most of these individuals, and certainly the majority of “freedom-loving” Americans, don’t actually understand the meaning of liberty, but rather give the matter little more than lip service.And again, I don’t mean liberty in an abstract way – like, say, “world peace” – but tangibly.Now, before going on, tripping emotional wires as I do, I feel the need to quickly establish my bona fides on the topic. I start with the simple fact that with age, and 58 years old counts, comes perspective. In addition, unlike most of today’s COL, I have actually been jailed for rioting against authority – at the naïve age of 14, as the result of actively participating in the toe-to-toe anti-war confrontations during the Oakland Induction Center Riots of the late 1960s.In addition, as over-the-top as it now sounds, along with my now-departed friend and colleague of many years, Jim Blanchard, I spent many months assisting the RENAMO-led freedom fighters raise awareness in their fight against Mozambique’s vicious dictatorship. The adventure ultimately ended up with us in a very tight spot under house arrest in neighboring Malawi, followed by a high-speed car chase with the Malawian secret police in hot pursuit.I have been directly involved with prominent members of the freedom movement in the US as part and parcel of my business career since a very young age, including running the 1980 Libertarian Presidential Nominating Convention in Los Angeles at the request of my friend Ed Crane, the founder of the Cato Institute. Furthermore, I have been friends, business associates, or acquaintances with too many well-known COL to recount here, starting with my business partner of many years Doug Casey, but also Harry Browne, Milton Friedman, and even Ayn Rand (I arranged for and hosted her at her last public appearance before she died).And finally, I would mention my involvement in helping to create La Estancia de Cafayate in a remote wine-growing region of Argentina, without question the largest and most successful community of largely libertarian-minded individuals on the planet.All of which is to say that I’m not arriving to this discussion fresh off the back of a turnip truck.So, what does liberty mean to me?In the simplest and purest terms, it means being free to come and go as I please.Of course it would be my strong preference to come and go without the charade and indignity of transportation security instituted by most nations these days (ironically, the “Land of the Free” being the worst of the lot). But, unlike some prominent COL, I don’t make the mistake of conflating transiting airports with protesting against the inanity of transport security.That’s because if I wanted to mount a protest against TSA, I would do it in an organized fashion. Say, by arranging for a large and loud demonstration at whatever passes for TSA’s headquarters, making sure that the media was there to provide coverage. I certainly wouldn’t do it ad hoc without media present, on a day when I actually needed to travel from point A to point B.After all, like trees falling in remote woods, if a protest happens and there’s no media to record it, was there a protest?The polar opposite to being free to come and go as one pleases, the essential tenet to my personal definition of liberty, is to be trapped in a jail cell. Been there, done that – and very much have no interest in doing it again.Thus, I avoid engaging in activities where one of the possible outcomes is being arrested and jailed. For example, making angry displays when a TSA minion asks me to take off my shoes.Now, I realize that the degradation of principles and justice in countries such as the US means that pretty much everyone breaks a law or three every day, but miscarriages of justice resulting in an innocent person being sentenced to jail (or gunned down) are statistically very rare. Yes, they happen – but so does getting struck by lightning. Thus, when I talk about acting in a fashion unlikely to lead to being locked up in a cage, I’m talking about playing simple odds.And no, I don’t need to be a cowering sheep to keep the odds of my being jailed near zero. Rather, I just need to take note of the laws of whatever land my feet are currently planted on and avoid tripping over the big stuff.In the US, for example, walking around with a bag of pot in your pocket could lead to jail time. In Uruguay or Amsterdam or dozens of other countries, it’s legal. So, when in the US – again, ironically still called “the Land of the Free” – I can manage without the pot. (Actually, I’ve done without pot for many decades; I’m just using this as an illustration.)Failing to pay the legally proscribed amount of taxes is another easy way to end up in jail. As a US citizen, there’s no denying I’m trapped in a tax regime I find abhorrent and counterproductive to the building of capital. That’s a big disadvantage compared to many countries.But am I willing to trade my liberty for the money I might be able to hide from the IRS? Hardly. That would be the equivalent of choosing the latter when confronted by a gun-wielding thug demanding my money or my life.Does this mean I’m powerless against the institutionalized theft of taxation? Not at all.It just means I have to work harder to uncover legal ways to minimize the tax bite, starting by hiring good counsel. And let’s not forget, for the citizens of most countries, minimizing the tax burden is as simple as getting on a plane, as – unlike the Land of the Free – they don’t tax non-resident citizens on worldwide income.As for US citizens, if the issue is important enough to you, there are specific steps you can take to legally avoid the taxes altogether, by replacing the passport you carry in your pocket. It’s not particularly quick or easy, but if paying less (no?) taxes is that important to you, then there are clear paths to accomplishing just that objective without risking the loss of your liberty.I’m not making these comments cavalierly, but rather to point out hard facts about the world we live in.So, freedom to come and go is the core principle of my personal liberty. What else?Well, part of that freedom has to do with personal finances. Namely, you can have all the liberty in the world, but if you don’t have the money necessary to actually travel, you probably aren’t going to get very far… at least not in a fashion you might enjoy.While there are countries such as North Korea where the government makes accumulating any wealth almost impossible (unless you are part of the dictator’s inner circle), in most of the world, this aspect of life – call it “financial freedom” – has far more to do with a person’s willingness to work hard than anything else.That said, I readily acknowledge that governments everywhere are a constant weight on the entrepreneur’s back. Yet, simply looking at the facts as they are, I personally know dozens of people, here in the US – and in places like Argentina, where the government makes doing business an order of magnitude more difficult – who, through their own creativity and exertions, are fabulously successful.As something of a tangent, while generalizations are rarely useful, in my direct experience many individuals who paint themselves as libertarians have trouble coming up with the proverbial two nickels to rub together. Doug Casey and I have discussed this on more than one occasion, and I don’t think either of us has a good answer. If pressed to it, I would hypothesize that it has to do with a latent inability to work as part of a team, something libertarians tend not to be very good at but which is often required to launch a successful career. In support of that hypothesis, look no further than the reality that the Libertarian party has never been able to mount an effective national political campaign.Back to the point, despite the government’s meddling, financial freedom is imminently attainable for individuals who focus on their work and who put in steady efforts at increasing their personal knowledge (including learning how to handle your money, once you have some). Of course, succeeding may not be easy… it rarely is, though it can be.While I’m sure there are additional nuances to my personal definition of liberty that I could mention, the big point is that as long as I am free to come and go as I please and have the capability to build the wealth I need to do so, then I have pretty much all the liberty I need to enjoy my limited lifetime on this planet. After all, with those two conditions in place, if one place becomes too unfree for my taste, I can move on.“Wait a second!” some of you may find yourselves thinking indignantly.What about the wholesale trampling of the US Constitution in recent decades? What about the militarization of the domestic police force here in the US? What about the loss of freedom in the Land of the Free?I might respond with a sad shake of the head and by mouthing words such as “tragic,” or “damn shame,” or even “it’s outrageous, criminal even.” And there’s no question it’s all of those things and more. The idea of America in its youth was amazing, especially considering the era in which it was birthed. But that idea has been so diluted at this point to be almost meaningless… here in the United States.And therein lies the importance of being able to travel freely. You see, unlike many, I refuse to define myself by the artificial borders that were determined solely by an accident of birth. Why should I?Do I relate to the idea of America? Of course; what thinking person wouldn’t? But during these philosophical Dark Ages for freedom in the United States, what practical purpose does clinging onto that idea serve?To use an overused comparison, what practical purpose would it have served for the head of a Jewish family during Hitler’s Germany to stand on a street corner handing out anti-Nazi pamphlets? The obvious answer is “none.” It would have just resulted in the ultimate loss of liberty – his death and likely that of everyone he loved.Personally, I look at the Americans and I see a people who have been very effectively brainwashed, or who simply have given in to the entirely human tendency to shuffle unquestioningly onto the path of least resistance and let themselves go.I see a people who, on a wholesale basis, have consciously or unconsciously decided to trade the idea of America for the false security of a totalitarian state.While there are voices in the woods, such as Ron Paul, that warn of the consequences, I’m trying to focus today on hard realities. And the hard reality is that if you were to assemble all 300 million US citizens in an auditorium to listen to well-presented arguments for less vs. more government and then ask for a show of hands, the vast majority would raise their hands in favor of the current system that has the state deeply involved in pretty much every aspect of the economy and society at large.Skeptical? Then ask yourself what percentage of the audience would raise their hands in favor if asked the following:“How many of you want Social Security to remain intact?”“How many think the government should subsidize health care?”“How many think the rich should pay more taxes?”Or ask your questions in the negative, and watch how few hands stick in the air.“How many of you think the Food and Drug Administration should be abolished?”“How many of you think recreational drugs, including cocaine and heroin, should be legalized?”“How many of you think the Department of Education should be shuttered?”“How many of you think that the tax credit for mortgages should be canceled?”At the end of the exercise, the level of support for the very same tangled body of state-controlled handouts, regulations and central economic planning now choking the last gasps of life out of the body politic would be obvious and overwhelming.The practical point I am trying to make here is that the COL are fighting against a very entrenched and increasingly dangerous public mindset. Some like to hearken back to the days of the revolution when prominent men in the community risked it all to overthrow the British. I would contend that the situation today is totally different. Then it was a foreign enemy daily adding salt to the open wound of what was essentially an occupation by marching troops around and passing highly unpopular and often arbitrarily punitive laws. Today the enemy (of true freedom) is within. In fact, the nation is overrun by them… they dominate in most every community, in most businesses and even in most families.And your fellow citizens don’t want what the COL are selling. Sure, there are a fair number – for instance, members of the Tea Party – who might be sympathetic on a largely abstract level, but drill down into the specifics by asking questions such as those above and you’ll quickly find just how far off the grid you are.So what’s the point?Face the facts – free no more. Contrary to popular delusions, the United States is no longer the Land of the Free – either in terms of its judicial system or its market structure.Rather, it is the land of the paranoid, the state-dependent, supporters of Guantanamo and permawar… with the highest incarceration rates in the world, militarized police and… and… and…That said, it’s also the land of the convenient shopping, relatively inexpensive food and housing and trains that run on time. Provided you pay attention not to trip over the big legal no-nos, you can enjoy a very high standard of living (though, in fairness, that’s true of most of the world).If, on the other hand, you don’t think you can stay out of trouble here or in any country whose government is becoming a danger to residents, then go somewhere else. Or, to quote my friend and partner Doug Casey, “Stop thinking like a serf.”Define what it is you want from your life. And I am speaking about this life, not some promised afterlife. Do you really want to put yourself on the front line of a battle that the vast majority of the populace wouldn’t support you in?If the answer is “yes,” that you are willing to lose your liberty – the ability to travel freely – in support of the cause, then I can only wish you well. I hope at the end of your life, which in the US could come quicker than you’d like, you’ll have found satisfaction and purpose in the struggle. Just be sure you are clear on your objectives and are willing to accept the consequences.Of course, I’ll continue to support the champions of liberty here in the US, even though I think they are tilting against windmills for the most part. And I will almost certainly find occasion to speak against the totalitarian tide myself, albeit in terms sufficiently tame to avoid leading to a loss of my liberty.Far more important, as it relates to my personal liberty, I’ll continue the process of diversifying my life between political jurisdictions so that if and when things in my native country become unbearably oppressive – and therefore an active risk to my ability to freely go about my business – I can bid it goodbye.Call me a coward, but in my view it’s far better to switch than to fight, especially when the vast majority of my fellow citizens wouldn’t know the true meaning of freedom if you served it to them on a silver plate.Get David’s candid political and economic commentary every Friday, free of charge, in your inbox, by signing up to receive Casey Daily Dispatch. Throughout the week, you’ll also learn all about today’s most promising investment sectors – metals and mining, energy, technology – as well as hear from Doug Casey and prominent financial experts on the current state of US politics and the economy. read more
In This Issue. * Currencies inch higher day by day. * Bullard talks of QE benefits. * Chinese mixed data is still good. * Fed bulks up on cornering bond market. And, Now, Today’s Pfennig For Your Thoughts! China Hoards More Gold Than We’re Told. Good Day! And a Tom Terrific Tuesday to you! We were supposed to have more snow on the ground this morning, but that didn’t materialize. Brother, it’s cold out though! Much colder than the norm for this time of year. As long time readers are well aware of, I’m no fan of cold weather, and am always repeating the Jimmy Buffett lyrics that I’ve gotta go where it’s warm! This past week, there haven’t been a whole lot of choices here in the U.S. as to where to go where it was warm, so we’ll all in this together, eh? Yesterday was an awfully long day for me, and for the dollar apparently! The dollar, as I mentioned yesterday morning, looked fatigued all day, as the currencies, even the likes of dollars from Australia and Canada found some terra firma. The trading ranges aren’t getting out of whack or anything, these moves are small, but that’s how large moves begin. With slow moves that seem to take for-ever for them to add up to anything significant, but then a couple months down the road, we look back and see that the small moves have added up to something worth talking about a cocktail parties. The Tapering Question remains a roadblock to currency gains getting moving with any authority. The Fed Heads’ FOMC Meeting doesn’t take place until next week 12/18, but yesterday we had a Fed Head talking about Tapering, so let’s see what he had to say, and maybe we can get a glimpse of what will be the end result of next week’s meeting. Well, Fed Head, and St. Louis Fed President, James Bullard, spoke yesterday here in St. Louis. I remember two years ago when I heard him speak, and then they opened the floor up to questions, and there was me, not able to talk out loud from the Radiation I was receiving on my jaw. Man I was loaded for bear, and had to sit there, with the gel in my mouth in hopes of soothing it! Any way. Fed Head Bullard was trying to be very emphatic with his choice of words yesterday, saying that The “improvement in the Labor Market since bond buying began is “most powerful part” of case for Tapering.” Ahem, again this time I would be front and center to ask him a question about that statement, had I been there, so I’ll ask it in the Pfennig, and hopefully someone at the NSA will forward it to him! (just having some fun, no need to get all uptight!) Ahem. Hello? Am I on? Hello? Yes, hello, long time listener, first time caller. I want to know what proof he has that Quantitative Easing has had anything to do with the hiring that’s gone on, or, could it just be a case of a coinquidink? That the nascent hiring would have happened with or without QE? And then a follow up question, please. If QE is responsible for the hiring as you propose, then what could happen when you take away the punch bowl? Thank you, I’ll hang up and listen to your answers. Well, I came out of my office yesterday, where I was hunkered down working on stuff, to look at the currencies and Gold, after Bullard spoke, thinking that for sure, the markets would panic at his comments and send the weak rallies circling the bowl. But, that was not to be! In fact, the currencies and Gold actually looked healthier after he spoke. So. maybe, just maybe, because you never know, but maybe the markets have come to realization, after having it beaten into their thick skulls, that new Fed Chair, Janet Yellen, is cut from the same cloth as her predecessors, Greenspan and Bernanke, and therefore she’s not one to upset the markets’ applecart, especially a couple of weeks before Christmas! Or maybe, the markets were asking the same questions I asked above, about how could he make a statement like that without facts? I think Fed Head Bullard is a smart cookie folks. but maybe he stepped in the dookie here. OK. Let’s go to something else. Well, that was yesterday, and this morning, the dollar is still looking fatigued. The euro continues to move toward its pre-rate cut in November levels. I had a reader of the blog send me a link to a story about why the euro is so strong. The writer had 2 of the three points down, but missed one, and I pointed it out in my response on the blog. Haven’t seen the blog? You can find it at: www.dailypfennig.com… Here’s my response from yesterday. “thanks for the note and link to the story on the euro. I agree, and think the writer missed a very important reason for the euro’s rise this year.The ECB has a shrinking balance sheet, after competing with the Fed for largest balance sheet, the ECB’s balance sheet is now shrinking, while the Fed’s continues to expand, now nearing $4 Trillion.” The soon to be major player in the currency markets, the Chinese renminbi, saw another move in the right direction last night. There are a couple of things going on in China that need to be discussed. First is the mixed bag of economic data results that printed last night. Chinese Industrial Production didn’t meet the expectations for November, but same month Retail Sales unexpectedly beat the estimates. Now, let’s not get out the Chicken Little acts just yet, Industrial Production failed to meet the estimates, but it still printed with a 10% gain from a year earlier! (the consensus called for 10.1%) So, in my opinion, things continue to look up for the recovering Chinese economy. In addition, Chinese vehicle sales were up 16% last month VS a year earlier. The middle class in China continues to spend and that’s just what the Chinese leaders want to see. More domestic demand. The other thing going on in China is the Central Economic Work Conference, which is the group that sets the Economic and Reform Agenda for 2014. We could see some real fireworks come out of this meeting, with it all being good for the renminbi / yuan. I read a report yesterday that Singapore and Hong Kong had joined forces instead of competing to deliver Chinese investment products. This is HUGE folks. Yes, it flew under the radar screens of the markets, but just like the first currency swap agreement 5 years ago did, I found it, and believe it is and will become a very important cog in China’s quest to remove the dollar as the reserve currency of the world. The Swedish krona is having a rough day, and not participating in the currency mini-rally VS the dollar. The krona was sold after a report showed that Swedish Industrial Production fell -1.7% in October and Orders fell -2.5% month on month. This is a real rogue report, as the majority of the economic data prints have painted a different picture in Sweden of economic strength, that’s worthy of a rate hike. Recall that a week or two ago, I told you that Sweden’s Central Bank, the Riksbank, was contemplating one more rate cut, before they began their rate hike cycle in 2014. And data like this today, fuels the Riksbank’s wishes. The Riksbank meets next week, and the call on rates could be very close. But today, the markets believe it will be for that one final rate cut, which is why the krona is at odds with the other currencies today. I say, “if you have to cut one more time, go ahead and get it over with, so we can then set our sights on the next move which should be a rate hike in 2014”! I’m sure the Riksbank will take what I have to say as the gospel, and work accordingly! HAHAHAHAHAHAHA! The Allman Brothers great song, Whipping Post is playing, and I have to tell you yesterday, that’s exactly how I felt.. Sometimes I feel, like I’ve been tied to the Whipping Post, Good Lord I feel like I’m dying. Sometimes I feel, Sometimes I feel. But then there’s the next day, and I’m full of sunshine and colorful kites! You’ve gotta love days like that! The Bank of England Gov. Mark Carney, was out speaking to whomever would listen to him yesterday and decided to throw a bone to the markets, by saying that “We need to provide a lot of stimulus, but that stimulus can create risks”. I always thought that Mark Carney was an OK Central Bank when he was at the Bank of Canada (BOC), until that is, he kept interest rates steady even though he kept teasing the markets by saying that the need to withdraw stimulus is near. And now I see he’s a two-handed economist. you know. “on one hand we need to provide a lot of stimulus, and on the other hand we know it can create risks” The pound sterling has been the best performing G-10 currency VS the dollar the past 6 months, gaining 5.60% VS the green/peachback. Soon we’ll begin to hear the exporters in England crying about the pound’s strength, and Carney will have to choose to do something about the currency strength or listen to the crying. He’ll probably choose to do something about the currency, so be careful here. Do you know what G-10 currencies are the worst performers of the past 6 months? While I hate to have to list these, as there are some of the ones here that I always list as currencies I think people should look to own. of course I do my opinions on fundamentals, and sometimes fundamentals get lost in the shuffle.. But Norway, Australia, & Canada are three of the four worst performers the past 6 months.. I don’t think I have to tell you that Japanese yen is the 4th member of this club of shame. 6 months is a small sample folks. So don’t get all upset here. The Indian rupee continues its attempt to get back to a positive gain this year, but its running out of time, as there are only 3 weeks left in the trading year. But given where this currency was 6 months ago, the recovery has been quite impressive. Here’s what’s going on that is fueling the rupee’s recovery. 1. The economic reforms that the new RBI Gov. has implemented, and 2. The political party that is perceived to be more “business friendly” is winning most of the seats in the regional elections. Think back to August, it’s not that long ago, and the darkness that engulfed the rupee. I did an interview with Bloomberg’s Pimm Fox on India, and I told him that the new economic reforms needed to get implemented and in place and we would see things improve in India. I do believe he was quite skeptic of that thought at the time. Gold saw a positive day yesterday, and is up $6 this morning. If the shiny metal can hold on to its gains today, it would mark a 3-day rally. But beware, the gains in a 3-day rally can be wiped out in a NY Minute, by the price manipulators. Other than that, I found something in Ed Steer’s letter this morning that’s interesting regarding Gold, and China. here’s Ed. “The news that China imported about 130 tonnes of Gold through Hong Kong came out about two weeks ago from an inside source and is now old news. But now that the numbers have been “officially” released here’s Nick Laird’s chart of the situation as of Oct. 31. Note that the Cumulative Imports from this one official source is now double what China has stated they have in reserves. Without a doubt they have more they haven’t told us about, and probably much, much more.” Chuck again. Yes, I don’t have the chart he talks about, but imagine if you will, the line that looks like a moon shot representing the Gold imports in China. The reason I believe this is important, and this won’t be anything new to long time readers, but I have to say it anyway. The reason this is important, is that I truly believe that China wants to back their currency with Gold, maybe not 100%, but some backing of Gold, which would make their currency the most attractive currency in the world, which would go a long way of achieving their goal of gaining a wide distribution of the renminbi. And don’t forget, that China also produces Gold that they keep. Now, James Rickards, believes a different scenario for all this Gold hoarding by China. He believes that the financial system collapses, and that the countries with the biggest amount of Gold come to the table, they get to call the shots on the new financial system for the world. And China being China, will come to the table with more Gold than anyone could ever imagine, thus surprising the likes of the U.S., Japan, Germany and U.K. Either one of these scenarios will play out good for Gold. The U.S. Data Cupboard is pretty empty today, but will get back on the docket tomorrow with Retail Sales for November, which I talked about yesterday. The BHI indicates that it will be a strong report, as the Christmas shopping season is going good at our house! Before I head to the Big Finish today, I have something that just really got me going to yell at the walls this morning. Well, according to zerohedge.com the Fed now owns 1/3rd of the entire U.S. bond market. Let me repeat that for those that just skipped over it. Your Central Bank, not that you had any say in who you wanted as a Central Bank, or as in my case I would have vote for no central bank, but your Central Bank now has bought over .3% of all Ten Year Equivalents, from the private sector every week! By this time in 2014, the Fed will own about ½ of the entire bond market! YIKES! That’s your cue that interest rates will remain near zero for some time to come folks, for if interest rates rose as they probably should, and will eventually, then the losses on those bonds would be HUGE! For What It’s Worth. This was sent to me by a dear reader, and then I saw it on Ed Steer’s letter this morning, so I thought, it must be good! It originally appeared in the NY Post and is an article written by John Crudele.. Let’s listen in. “The most curious thing of all about the November jobs report released on Friday was the huge drop in the unemployment rate – and the fact that the Labor Department chose not to disclose that the data going into that figure are under investigation for falsification. On Nov. 19, I broke the news in my column that the Census Bureau, which collects data that goes into the jobless rate on behalf of Labor, had caught one of its enumerators fabricating interviews in 2010. The culprit said back then (and to me during an interview) that he was told to do so by Census supervisors who were in the position to instruct others to make similar fabrications. In fact, a source who I haven’t named but who is familiar with the Census data accumulation process has told me that falsifications have been occurring on a regular basis. The Labor Dept. did put in a note about the survey week change in its Nov. report. But it should also have included another line that said: “The data for the unemployment rate may have been compromised. Lots of people looking into the matter right now. We’ll get back to you on whether you should believe these numbers or not.” Chuck Again. OK. This John Crudele sounds like someone that would fit in nicely in a discussion on the Butler patio! That’s all I’ll say about all this. To recap. The currencies are inching along with small gains VS the dollar which is the way that Chuck believes, large moves begin. St. Louis Fed Head, James Bullard spoke yesterday on Tapering’s benefits. and Chuck has some questions for him. China saw mixed data, but Chuck believes it’s all good. And Sweden saw a weak data print overnight, which comes at a bad time, given the Riksbank will meet next week. And China has more Gold than they are telling us they have, are you surprised? Currencies today 12/10/13. American Style: A$ .9120, kiwi .8305, C$ .9405, euro 1.3750, sterling 1.6440, Swiss $1.1245, . European Style: rand 10.2970, krone 6.1225, SEK 6.5480, forint 218.70, zloty 3.0415, koruna 19.9455, RUB 32.68, yen 103.00, sing 1.25, HKD 7.7530, INR 61.02, China 6.1114, pesos 12.82, BRL 2.3080, Dollar Index 80.07, Oil $98.57, 10-year 2.82%, Silver $20.06, Platinum $1,390.25, Palladium $740.28, and Gold.. $1,248.47 That’s it for today. Chicago’s Make Me Smile is playing, and that’s a song that gets me drumming on the desk, and singing along, but now Mike is here, so I have to sing to myself. My beautiful bride got the lights on the tree (what Everett calls the Trismas Tree) last night, now the kids will start to decorate it. I told you it’s a big one, and I’m not kidding! I’m still seeing red from the Bowl selections. Someone said that they choose based on how the school’s fans will travel. Hey! Hold it somewhere warm and people from ice-cold Missouri will flock there! Just take a look at spring training each spring! Those aren’t locals filling the stands, they’re people from ice-cold parts of the country! Should be a shorter day for me today, looking forward to that! And with that thought, I hope you have a Tom Terrific Tuesday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837 read more
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In This Issue. * Currencies rally on weak labor report. * Gold also adds to value on weak data. * Jobs data is confusing. * Lacker admits to an asset price bubble! And, Now, Today’s Pfennig For Your Thoughts! Jobs Data Disappoints! Good Day! And a Marvelous Monday to you! Well, this morning seems to be an extension of Friday’s activity once the Jobs Jamboree’s dust had settled. The dollar is softer than a sigh, and believe it or don’t, the 10-year Treasury is rallying alongside yen! Strange bedfellows I would say, but they go way back in the old “flight to safety” trading, although I always questioned why either one of these investments would be considered “safe”. It’s another touch and go today for me, I almost dropped coming into work like a bad habit this morning, but. Here I am! Besides I just couldn’t do that to Mike. Especially since I’ll be gone the next two weeks after this Friday. There’s a trip to the Orlando Money Show thrown into that time away, so, not to worry, I’m not going away for good. not yet, any way! HA! Charlie Daniels is playing the South’s Gonna Do It Again, on the IPod, and that got me moving a bit, so let’s get to the rest of the letter! Well. How about that Jobs Jamboree on Friday? In case you haven’t seen any of the numbers, payrolls rose only 74,000 in December. And you know what was even more telling of the slowdown in the economy than that nascent rise in jobs created? The Avg. Workweek fell by .2% to 34.4 hours worked each week by U.S. workers. I’m not sure I can color this any differently other than to say the economy optimism that the Fed Heads have is unwarranted at best! Now when I saw the Unemployment Rate drop on the screens, I stood up and said to everyone, “Just watch, the media is going to focus on the Unemployment Rate drop and not the small number of jobs added.” And that’s just what they proceeded to do all day long. Yes, all day long they talked about how the Unemployment Rate had dropped t o 6.7%… Ahem. This is going to continue to show a drop in the Unemployment Rate, folks, as it’s more of a reflection of those giving up looking for work. Well, as I’ve explained to you for years now, once the unemployment benefits end, the person is dropped from the “unemployment calculations”. So, the drop in the Unemployment Rate was more a reflection on the large numbers of unemployed dropping off the books. Now, Rex Nutting at MarketWatch says people aren’t becoming discouraged about finding a job. Well, that may be. I know years ago when I was unemployed, I wasn’t worried that I wouldn’t find a job. until months later and I had no job! And then there was this too about the Jobs Jamboree. The Labor Participation Rate fell to 62.8% from 63%… That brings it back to a 35-year low. So, better put away all those banners and balloons, confetti and champagne, it appears that the economic boom for the U.S. is not ready for prime time. And talk about a damaging report to the dollar! YIKES! The dollar was put on the chopping block no sooner than the Jobs numbers appeared, and remained there all day, through the overnight sessions last night. Here’s the skinny on why that happened. The markets saw in the jobs data, what I’ve been saying all along, that the economy isn’t strong enough to drop the stimulus, and so their (the markets) thoughts changed from tapering to holding bond buying steady. And that’s not good for the dollar, as we have all come to learn since the first announcement of debt monetization, aka Quantitative Easing, aka bond buying, aka crack cocaine for the economy, was made in March of 2009. That’s right, we’re heading toward the 5-year anniversary of Fed Meddling. It’s like the economy is married to Quantitative Easing, so we need to make sure we buy them some silverware, for that’s the traditional gift for 5 years of wedded bliss. Oh, and just to point something out to everyone that thinks there’s no inflation. 5 years ago, the price of gas was $1.75 a gallon. Happy Anniversary baby, got you on my mind. Betcha you had lost track of how long the Fed has been monetizing the debt, eh? So, anyway, that’s what has the dollar on the hot seat. The euro, A$, kiwi, and a host of other currencies all took liberties with the dollar, as well as Gold, which added $10 on the news that only 74,000 jobs were created. I have to wonder just what the heck is going on with these labor surveys, don’t you? I mean the ADP report just two days earlier said that the economy added 238,000 jobs, and they supposedly use the same methodology that the Bureau of Labor Statistics (BLS) use. Now, one bad apple don’t spoil the whole bunch, girl. And one swallow doesn’t make a summer, so one bad employment report doesn’t mean we’ve slipped backwards. What it does point out is the economy is uneven in its recovery, which is the same thing as saying the Fed is overly optimistic about the economy. Treasuries rallied on the labor data, as the threat to continued tapering weakened. The 10-year lost 11 Basis points to 2.85%, That’s a HUGE rally folks! I can think back to the days when all the bond trading centered around the 30-year. You never saw days like that back then. But there it was right before us last Friday. the 10-year yield falling from 2.96% to 2.85%… And remember when the yield falls on a bond, the price of the bond goes up! And that’s a rally! I looked up to the Bloomberg this morning, as saw a headline to a story that read, “Euro Set To Decline as U.S. Economy Advances”. You know, before people write stuff like this, they should do a little research. Just because the U.S. economy is doing better than the Eurozone economy is not a recipe for dollar strength VS euro. The best year the euro has had in the last 11 was 2003, and the Eurozone had a nascent recovery going on, while the U.S. economy was plugging along just fine. The thing to think about here when stuff like that happens is that when the U.S. economy is doing well, personal consumption is going strong. Spending, spending, and more spending, running up the Trade Deficit, and the personal credit, which as we now know, is bad medicine. OK. The Aussie dollar (A$) is back to trading above 90-cents this morning. The had some second tier data last night from Home Loan and Job Ads, which were both bang on with forecast and recent prints. The Big Kahuna report for the A$ this week comes Thursday (Wed night for us) in their Employment Report and Leading Indicators. I think traders have pushed the currency appreciation envelope for the A$ ahead of its time. In other words, watch out for a sharp pull-back should the data this week disappoint. The Canadian dollar / loonie, got taken to the woodshed on Friday, even with most of the other currencies rallying VS the U.S. dollar. The problem for the loonie came in the form of a rotten jobs report. Canadian employment dropped 45,900 in December, after adding 21,600 in November. Their Unemployment Rate rose to 7.2% from 6.9%… This report was clearly disappointing, folks, as the recent monthly reports were pretty much in line with what was expected, but December’s report strayed from that trend. As I said the other day, it appears to me that the traders want to take the loonie to 1.10 or 91-cents in dollar terms. It’s .9155 this morning, so they’re almost there.. The New Zealand dollar / kiwi is ratcheting higher and higher in value, and soon it will be nearing the level where it has previously touched right before the Reserve Bank of New Zealand (RBNZ) Gov. Bollard goes bonkers on the currency and gets it jawboned back down in value. Now, we all know, that is unless you skipped this part the 100 times I’ve talked about it before, that the RBNZ will be hiking rates in 2014, maybe even as soon as this month, but most likely by March. Bollard can’t have kiwi soaring in value before he hikes rates, for that could send the currency to the moon, so I fully expect some jawboning coming from Bollard very soon. But that’s OK, you can use his attempt to weaken the currency ahead of the rate hike, as an opportunity to buy at a cheaper level! The Chinese renminbi was allowed to appreciate to a 20-year high VS the dollar overnight. Here’s a thought on why I think continued strength in the renminbi / yuan should be viewed. In the past, the Chinese have used a combination of buying dollars and Treasuries to keep a lid on the renminbi / yuan. But do you really think the Chinese are interested in buying Treasuries with the Fed backing of their bond buying? I don’t think so. I see where Norway is going to enter into the bond issuance arena with $650 million or (4 Billion krone) of their 10-year Norwegian Gov’t Bond. The krone hasn’t really been a good performer the past year, and that will make selling the bonds a challenge, but one that should be easily overcome given the Fundamentals of Norway, their AAA rating, and the cheapest cost of credit derivatives on default, are two items that should easily outweigh the weaker krone. My colleague and friend, Jack Stapleton stopped by my office on Friday, and said, “WOW! That was a great story you had in the Pfennig this morning, about how the Norwegian public pension fund now has 1 million krone for each person, when are the markets going to wake up and smell the coffee that Norway’s fundamentals are the best?” I said, welcome to my world, Jack! This is the stuff that makes people like me lose their hair, but one day, Alice. To the Moon! Before I head to the Big Finish today. I wanted to say a thing or two about Bitcoin. I know you all have been wanting me to come out with my thoughts on Bitcoin. All I’ll say right now, is that it appears that Bitcoin is now being used as it was intended to be, as a payment currency, and store of wealth, not as it was being used as a commodity that goes up and down in price. The Big Boss, Frank Trotter, tells me the payment system is top notch, and that gives me optimism, but. there’s the regulation that could come that scares the bejeebers out of me, and now there are more of these digital currencies coming out. That’s going to become confusing folks. Be careful. For What It’s Worth. Remember when the “maestro” (Alan Greenspan) became known as “Bubbles Greenspan”? That was a huge letdown for the “maestro”. And from that point on, the Fed Heads were determined to not mention the word “bubble” ever again. Even new Fed Chair, Janet Yellen, said a month ago that she saw no asset / stock market bubble. And that really got the stock market participants all lathered up. For if she saw no bubble, that meant she wouldn’t be looking to pop it! Well, over at zerohedge.com they had a story on Fed Head Lacker, who slipped up last week, and said that, “he was reluctant for the Fed to prick asset-price bubbles” Well looky there! A Fed Head admitted that there was a stock market bubble. Here’s what they had to say about it over at zerohedge.com, “Well there it is. There are asset bubbles? But Lacker – who has been anti-QE to some extent – knows that if the Fed moves to actually do anything about it (other than jawbone), it’s all over. Perhaps as more realize the transition from a Bernanke Put to a Yellen Collar has occurred, there will be no need to jawbone any longer. But jawbone on they will as open-mouth operations try to persuade investors that strong forward guidance is just as effective as printing 100s of billions of USDs.” Chuck again. I knew in my heart of hearts that the Fed Heads all knew what was going on in the stock market, and what was fueling it, they just couldn’t admit it because if they did, they would have to accept the blame. I still say that the “unwinding” of all the stimulus is going to be interesting folks. and I don’t mean in a good way! To recap. The Jobs Jamboree was very disappointing last week, and confusing on top of that, as it was quite different than the ADP report that printed two days earlier. The Unemployment Rate is a joke, don’t pay attention to that data behind the curtain! The dollar got sold on the labor data, and is still getting sold this morning. Even yen is rallying alongside Treasuries! Currencies today 1/13/14. American Style: A$ .9055, kiwi .8360, C$ .9155, euro 1.3670, sterling 1.6425, Swiss $1.1075, . European Style: rand 10.7145, krone 6.1165, SEK 6.4890, forint 218.60, zloty 3.0405, koruna 20.0205, RUB 33.12, yen 103.45, sing 1.2645, HKD 7.7545, INR 61.51, China 6.0950, pesos 13.01, BRL 2.3460, Dollar Index 80.60, Oil $92.07, 10-year 2.85%, Silver $20.09, Platinum $1,438.13, Palladium $739.63, and Gold. $1,247.32 That’s it for today. Well, yesterday was my oldest son, Andrew’s Birthday. 32 years ago, we had 9 inches of snow fall while he was being born, and I had to navigate my way home late that night. Happy Birthday Andrew! What a busy week sports-wise! The Blues played two games (won one, lost one) the basketball teams at Mizzou and St. Louis U both won, and then we had the 4 NFL playoff games. You can bet that I didn’t leave my recliner much! Went with a good friend to my old childhood neighborhood on Saturday morning for breakfast. It’s pretty strange going back to South St. Louis, it used to feel so friendly when I was a young man, and now it feels cold, aloof, and scary at times. I showed my friend the house I grew up in, it sure looked sad. Well, I made it through the morning so far. so I guess I’m good to go! It should be a busy week, so finish your coffee and go have a Marvelous Monday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837 read more
America’s “Shadow President”—and how he’s getting rich(er) [not who you might think] Billionaire Peter Thiel has been spotted in Trump’s “NY White House” and has even been called the “Shadow President” for the influence he wields. He is a heavy backer of a new type of currency that’s already making some people very rich. This has been an opportunity for the average guy to generate “small fortunes,” writes The Economist. $24,955,415,087 have left traditional currencies and gone into this new type of currency. We’ve spoken with dozens of insiders about this phenomenon… including the world’s top investor in this space and members of the “Fed.” Click here for the full story. Recommended Link — Justin: I totally agree, Doug. I’ve also noticed that these people don’t really want equality for all. They want equality for some. It’s incredibly hypocritical. Doug: It’s actually all about envy. Envy is a vice—it’s different from jealousy, another vice. Jealousy is a vice that says, “You have something, I want it, I’ll take it away from you.” Envy is even worse. It says, “You have something that I want, I can’t get it, so I’ll destroy it, so you can’t have it either.” These people aren’t just misguided. They’re mentally ill. They’re actually evil. But they’re not just taken seriously, they’re treated with respect. And they’re endemic to society at this point. This is cause for great pessimism. Justin: It’s certainly not the only reason to be pessimistic, either. But that’s it for today. Thank you for taking the time to speak with me. Doug: You’re welcome. Justin’s note: Doug and his team just released a new video presentation that explains a unique way to get paid every month on autopilot. Thanks to a brand-new initiative started by the US government, you can potentially earn an extra $10,000 to $40,000 over the next three years. If you’re interested, you can watch it right here. But it’s actually gone beyond that. It’s become fashionable now to hate white males in particular. They say that women, blacks, Muslims—pick a group, any group except for white males—are all discriminated against. I would say, in the first place, there’s absolutely nothing wrong with discrimination in itself. Discrimination can be rational. Discrimination can be intelligent. It’s often necessary. It’s a matter of what you’re basing your discrimination on. You have to discriminate between things that will help you and things that will hurt you. And that can include other groups or even other people. It’s a genetic trait to be more favorably inclined towards people like yourself. Tribes usually identify themselves as “the people”, and everybody else is “other”, a potential enemy. It makes sense to recognize facts of reality. Different ethnic and religious groups have different beliefs, customs, and ethics. Until you can get to know them as individuals it makes sense to generalize. Recommended Link Forget the stock market – here’s where the big winners are Less than 1% of investors have probably heard of this tiny market. But over 100 of these investments returned triple digits in 2016. They’ve delivered historical gains over 413%, 930%, and even a rare 1,927%. You won’t find these plays on the New York Stock Exchange. But you can get in on the action from your home computer in a matter of minutes, and we guarantee that you’ll have the chance to make 1,000% total gains. Get more details here. Justin’s note: It was the worst article I’ve ever read. The piece was titled “Could It Be Time To Deny White Men The Franchise?” In it, the author argued why white men should no longer be allowed to vote. As soon as I finished reading the article, I sent it to Casey Research founder Doug Casey. He replied: “Fascinating. At first, it seemed like a comedy piece. But it’s clear she’s serious.” A few days later, Doug and I chatted about the article. Below is a transcript of our conversation. We hope you enjoy it. (The Huffington Post has since pulled the original article down claiming that the author “cannot be traced and appears not to exist.” Luckily, we were able to track down the original article. You can read it here.) Justin: Doug what did you think of that Huffington Post article I sent you? Doug: I read the article when it was still up, and it was absolutely incredible. That’s not just a figure of speech. I mean it beggared belief. I urge everyone reading this to hit the link. These people don’t seem to realize that they’re actually parodies of themselves. I mean, they’re always talking about racism and xenophobia and sexism and ageism and the like. They don’t look at people as individuals, they look at people as members of classes. That’s why it’s called “identity politics”—you don’t identify as an individual, but as a member of a group or a class. And, of course, their philosophical background is cultural Marxism. Because, you know, one of the central points of Marxism is that people are all members of classes. — But it goes deeper than that with this insane article. What these people really hate is Western Civilization and everything it represents. The question is: Why do these people think it’s virtuous to discriminate against white males? White males are largely responsible for Western Civilization. Which is shorthand for things like individualism, free markets, free thought, science, literature, industry, and about everything that’s allowed mankind to rise out of the muck and look to conquer the planets. That’s what this article really hates. So, it’s fascinating not so much that somebody wrote an article as stupid as that. But that a large outlet like Huffington would actually publish it. It’s a sign of how degraded things are. I’d say the author suffers from a serious psychological aberration. The editor who posted it is clearly a graduate of some PC US university, probably a major in Gender Studies. It’s too bad that they took it down because it should be put on display, as a warning. Unless they repost it in The Onion. read more
How Humans Relate to Social Media –shares Graham Young Guest Writer 2019 Entrepreneur 360 List Social Media Too many people are disconnecting from reality. Apply Now » Image credit: wundervisuals | Getty Images Next Article The only list that measures privately-held company performance across multiple dimensions—not just revenue. Add to Queue Opinions expressed by Entrepreneur contributors are their own. Simon Sinek, in his now famous interview — along with many others — have discussed the dopamine distraction that is linked with technology. One big contributor to this is the fact that our brain is stimulated by novelty. Every time we learn something new, dopamine — the feel good neurotransmitter — is released. This means every time we see a new post, notification or email, we’re learning new information which gives us a small kick of dopamine.On top of that, one study reported that talking about oneself on social media is intrinsically rewarding and activates a pleasure sensation in the brain usually associated with food, money and sex. To make matters worse, dopamine also gets released when we accomplish small tasks. So, every email we send or message we respond to is giving us a shot of some more feel good chemicals.When you look at it this way, social media sounds pretty damn exciting. And to an extent, none of this is inherently bad for us. As Sinek says, “there is nothing wrong with social media, it’s the imbalance.”Related: Why Digital Detox is a Good Idea For EntrepreneursAn unreal reality.The challenge is that this sucks us into an unreal reality. It’s no one’s fault that we all enjoy sharing positive things about ourselves on social media rather than negative things. The difficulty comes into play when we are only exposed to all the amazing things people are doing. “The reason why we struggle with insecurity is because we compare our behind the scenes with everyone else’s highlight reel,” says Steven Furtick, founder and lead pastor of Elevation Church. Comparing perfection.Our brain is naturally wired to protect us, so it is constantly on the lookout for any threats in our environment. One way it does this is by comparing us to that of everyone else — to see where we measure up in the world. If that person has a better job, relationship or life than you, it can create instant internal reflection and make you question what you are not doing right or what you need to do more of.The human brain also learns from repetition, the words you say to yourself and how those words make you feel. So if you are going on social media and subconsciously comparing yourself to this unreal reality of perfection, it’s going to potentially make you feel less of yourself. And when you repeat this many times each day, you’re ultimately training this lower way of thinking and feeling into your mind. Real connection.One Harvard study, that spanned over 75 years, focused on what makes people happy, and the result was one simple thing. The strength of the relationships in their lives. “Close relationships, more than money or fame, are what keep people happy throughout their lives,” writes Liz Mineo, Harvard staff writer.What is concerning is that other studies are finding that loneliness is on the rise today, especially among young people. How is it that more people today feel lonelier than ever before, yet we are supposedly more “connected” at the same time? With all the messages and notifications we receive, it may feel like we’re connecting and interacting with so many people; but to what level? Is it actually establishing close relationships or just surface ones?The real question should be, how many social media interactions, likes, comments and messages equate to the connection we get from being in the presence of one person? Because often times, when you eventually do physically meet or hang out with people you’ve been connecting with online, you find out they aren’t as perfect as you once thought. They do have flaws, insecurities and challenges, and you realize that they’re like everyone else. You also realize you’re not alone in whatever you may be going through in your life or business. Related: Why Everyone and Everything on Social Media Is FakeUsing the online world for good.Every single one of us craves the feeling of being part of something bigger than ourselves. Being part of a group — or “tribe” back in our caveman days — gives us that inherent need and sense of belonging, which makes sense considering tribal culture was necessary for survival back then.In Galya Westler’s TEDx talk, she shares how her brother Roy suffered from brain cancer and was in need of $10,000 a month to pay for a new treatment. They didn’t know what to do, so they created an online campaign. It unexpectedly raised more than $350K in one month. Often these campaigns explode because you have a group of people that share the same interest and are brought together for a good cause; with many of them having a previous face-to-face connection with the person they are raising money for.Westler was then inspired to connect this concept to help solve the issue of loneliness and the data privacy issues we experience online. Her approach was done through her company, PlazusTribes, by building a blockchain tool for large groups (tribes) that share a similar interest. As people naturally chat within their tribes, they earn rewards and have the power to control how the data they share with one another is disclosed to advertisers, enabling them to collectively monetize their data themselves.How can we combat the challenges of social media?Understanding what is going on inside our brain while we use social media and being aware of this need to belong is an important component. We can’t control what we don’t understand.It’s also critical, especially as an entrepreneur, to not become isolated in your work and disconnected from people around you.As people age and their interests change, they often grow in different directions than some of their old friends. Don’t let this be an excuse to isolate yourself. Make it a priority to find your tribe, whether it be an online Facebook group with similar interests or friends you see on a regular basis in person.We also must understand the importance of real world, in person connection and be reminded that what we see online is not reality. We can’t get down when we catch ourselves comparing our life to that of everyone else. The only way to do this is by being in the presence of someone — to see them for who they truly are and see what they are going through in their business versus what we see online.However, the other challenge about getting older and busier is the difficulty to stay in touch with people. How many times do you bump into someone and wish you were making more of an effort to see that person?Related: How These 5 Strategies Help Me Make — and Keep — Connections That Grow My BusinessThere is one simple, powerful way to combat this and build a brand new habit. Pull out a sheet of paper and write out the most important people in your life. You might title one area “family,” another “close friends” and another “influential business contacts.” Then simply keep this on your desk, review it each week and choose a few people to reach out to and make plans with. Not only will you build stronger relationships, you will feel more in control of your life. In an online world where many people are feeling lonelier than ever, one cure is authentic, aligned and consistent connection. Keynote Speaker November 27, 2018 7 min read read more
“As the largest and most robust mobile measurement platform on the globe we are excited to integrate the AppsFlyer platform with Digital Turbine’s SingleTap Installs solution,” said Ben Roodman, Director of Partnerships at AppsFlyer. “We have already seen early success with a number of our application partners and are excited to expand SingleTap across many more apps.”“Improving the customer experience and more accurate attribution have always been the key values of Branch’s platform,” said Eric Stein, EVP and GM of Partnerships at Branch. “Our app partners can now receive even more value through frictionless app installs powered by Digital Turbine’s SingleTap solution, driving their users from an ad directly to the right page of their app without going through the standard download process. Simply put, the power of SingleTap combined with the power of Branch is driving the world’s best app experiences.”Marketing Technology News: Tetra TV Launches Transparent Advertising Network for Connected TV“We are extremely excited to work with AppsFlyer, Branch, Kochava, and Singular to deliver a better and simplified end-user experience. SingleTap delivers improved conversions for advertisers and creates new revenue streams for our Operator and OEM partners,” said Bill Stone, CEO of Digital Turbine. “Our vision to expand Single-Tap capabilities for any application a consumer wants to download, on any Android device, anywhere on the planet, is being accelerated through these strategic partnerships.”Marketing Technology News: PushSend Launches All-in-One Marketing Platform That Brings Enterprise Capabilities to SMBs Digital Turbine Partners with Leading Attribution and Analytics Companies PRNewswireMay 3, 2019, 4:40 pmMay 3, 2019 Partnerships Cover 85% of Top Global Mobile Applications to Accelerate Scaling SingleTap CapabilitiesDigital Turbine, Inc., the #1 mobile platform connecting operators and OEMs with mobile advertisers, announced it is partnering with leading attribution and analytics companies to accelerate the expansion of SingleTap capabilities by leveraging the scale of existing integrations with application providers. Partners including AppsFlyer, Branch, Kochava, and Singular represent approximately 85% of the top global applications market.Digital Turbine’s SingleTap solution streamlines the app install process by enabling app delivery from any mobile ad in just one tap. SingleTap is currently enabled on more than 150M Android devices globally, including nearly 50% of all Android smartphones in the US SingleTap to date is delivering up to 200% lift in click-to-install conversion rates for advertisers and application providers.Marketing Technology News: Spot.IM Raises $25 Million in Series D Funding Android smartphonesAppsFlyerBill StoneDigital TurbineMarketing TechnologyNewsSingleTap Previous ArticleSocial Market Analytics Partners with RCM-X for Sentiment-Driven Advanced Algo TradingNext ArticleCustomer Experience Management Leader Medallia names Gavin Selkirk as Vice President of APAC read more
Reviewed by Kate Anderton, B.Sc. (Editor)Dec 2 2018The University of Alicante has joined the European project DeMoPhaC (Development of a model for nurses’ role in interprofessional pharmaceutical care)to establish a common framework for nursing professionals in interprofessional pharmaceutical care. A preliminary study on 3,300 European nurses, doctors and pharmacists found that greater involvement of nursing professionals in pharmaceutical care would have a positive impact.”Health science professionals and students from 14 European countries will analyze the ideal features of pharmaceutical care as well as nurses’ role, with medication prescription as one of the strategic aspects,” UA Faculty of Health Sciences lecturer Manuel Lillo explains.DeMoPhaC partners state that greater transparency, recognition of nurses, joint good practice plans and standardized studies would have a major impact on European society. It is worthy to note, the UA lecturer adds, that in countries such as the UK, Australia or the United States the role of prescribing nurse has successfully existed for years.Related StoriesComplement system shown to remove dead cells in retinitis pigmentosa, contradicting previous researchNursing home care prices rise faster than other medical care and consumer pricesOlympus Europe and Cytosurge join hands to accelerate drug development, single cell researchIn Spain, after years of controversy, nurses can prescribe medications from 23 October 2018, as set out in the Royal Decree on Nursing Prescription published in the Official Journal of the Spanish Government (BOE), which allows nursing professionals to prescribe and authorize the dispensation of certain medications, such as vaccines.StagesThe goal of this European Commission-funded Erasmus+ project is to explore the point of view of all healthcare professionals involved in medication handling. It consists mainly of a qualitative study per participating country including opinions and overviews by experts from each profession. Afterwards, all information will be shared to establish a Europe-wide action plan to standardize the required and existing level of knowledge on pharmacotherapy, adapted to the day-to-day reality in the field.In addition to the evaluation on nursing prescription, a guide will be designed to assess nursing students’ training and skills. All in all, the objective is to strengthen an international network of pharmaceutical care in nursing and cooperate in education, research, practices and policies.PartnersLed by the University of Antwerp, DeMoPhaC partners include the Sigma Theta Tau International Honor Society of Nursing (STTI), the European Academy of Nursing Science (EANS), the European Federation of Nurse Educators (FINE) and several universities.The University of Alicante’s working team, led by lecturer Manuel Lillo, includes three students from the Faculty of Health Sciences: PhD candidate Jorge Riquelme, Master’s degree student Alfred Pérez, and Nursing undergraduate Adrián Marco.”This project, which will finish in 2021, bolsters scientific evidence consolidating and strengthening nurses’ work at national and European level. DeMoPhaC will offer new development and research lines for continuous improvement based on the needs of today’s population,” Lillo concludes.Source: http://ruvid.org/ri-world/experts-and-students-from-14-european-countries-analyse-nurses-role-in-prescription-and-dispensation-of-medications/ read more