Archive for 2017

Former Puerto Rico AG Cut Off By CNN After Accusing San Juan Mayor Of Being A Political Hack

Courtesy of ZeroHedge. View original post here.

Donald Trump's feud with San Juan mayor Carmen Yulín Cruz got an unexpected reinforcement today, when Former Puerto Rico Attorney General Jose Fuentes, a Republican, on Sunday took aim at Cruz, accusing her of attacking President Trump and using hurricane relief efforts to lay the groundwork for a gubernatorial bid.

Speaking on CNN's "New Day", Fuentes accused Cruz of making an about-face, saying she supported Trump just a few days ago, until her political adviser suggested the idea of running for governor.

"The mayor of San Juan is a political hack," Fuentes said. "She was singing the praises of the president until her political adviser, [Rep.] Luis Gutiérrez from Chicago, got there and brought her the t-shirts and said, 'Hey you want to run for governor, if she wants to run…" at which point the CNN anchor cut him off, pointing to audio issues, and claiming he could no longer hear Fuentes, handing over the mic  to CNN's Democratic Political Commentator Maria Cardona, who unleashed a scathing critique before somehow audio returned at which point Fuentes was once again given the platform, when he again repeated that any logistical problems were the result of political posturing by the San Juan mayor at which point both the CNN anchor and and Cardona doubled down their attack, and so on.

Watch CNN's anchor shut down Fuentes 2 mins 38 seconds into the clip below.

Also on Sunday, FEMA administrator Brock Long defended the Trump administration's response to the Puerto Rican humanitarian crisis, warning of a fragmented response if mayors do not take part in the relief effort.  "If mayors decided not to be apart of that [relief effort] then the response is fragmented," Long told Chris Wallace on "Fox News Sunday" in response to criticism from the mayor of San Juan, Carmen Yulin Cruz.

"What I don't have patience for is the fact that what we're trying to do and we have successfully done is we've established a joint field office in San Juan. And you should go there, you should go see that operation, where we're having daily conversations with all of the mayors, we're working with the government and his leadership to create unified objectives," Long


continue reading





Mariano Rajoy, You are a Disgrace to Spain and the World, Please Resign: Catalonia Has Spoken Loud and Clear

Courtesy of Mish

Spanish prime minister Mariano Rajoy, the man who said there would not be a vote, now has to face the facts: 90% Voted for Independence.

  • 90% of the 2.26 million Catalans who voted on Sunday voted in favour of independence, according to preliminary results released by the region’s government. The region has 5.3 million voters. Officials said 770,000 votes were lost due to disruption which resulted in polling stations being raided by Spanish police.
  • Carles Puigdemont, Catalan’s leader, announced in a televised statement that the region had earned the right to become an independent state and that results would be passed the region’s parliament in the coming days.

This video of Madrid thugs stomping on people attempting to vote is worth a replay

Catalonia says 'Yes' to independence from Spain with %90.09 of the vote. Around 80% of polling stations managed to stay open. pic.twitter.com/yHqCYl0fXw

— WikiLeaks (@wikileaks) October 1, 2017

Dear PM Rajoy, Here are the Results

  • Despite the hundreds of thousands of police goons you sent in to stop the vote, a vote did indeed take place.
  • With 90% of the vote in, over 2,020,144 voted for independence.
  • Only 176,565, were against.
  • Your thugs seized another 770,000 ballots, the vast majority of which were undoubtedly in favor of independence.
  • 5.3 million were eligible to vote, and over 50% tried, despite your thug actions.

Dear PM Rajoy, Please Resign

Dear Rajoy, your career is over. Please resign before you are booted out.

But before you go, please take a look at For All the World to See: Police Brutality Videos and Images in Catalonia, then apologize.

Mike “Mish” Shedlock





RIP, Monty Hall: The Time Everyone “Corrected” The World’s Smartest Woman

Courtesy of ZeroHedge. View original post here.

Monty Hall, the genial host and co-creator of “Let’s Make a Deal,” the game show on which contestants in outlandish costumes shriek and leap at the chance to see if they will win the big prize or the booby prize behind door No. 3, died at his home in Beverly Hills, Calif., on Saturday. He was 96.

In memory of the great entertainer, we present:

The Time Everyone “Corrected” the World’s Smartest Woman

Authored by Zachart Crockett via Priceonomics.com,

By all accounts, Marilyn vos Savant was a child prodigy.

Born in St. Louis, Missouri in 1946, the young savant quickly developed an aptitude for math and science. At age 10, she was given two intelligence tests — the Stanford-Binet, and the Mega Test — both of which placed her mental capacity at that of a 23-year-old. She went on to be listed in the Guinness Book of World Records for having the “World’s Highest IQ,” and, as a result, gained international fame.

Despite her status as the "world’s smartest woman,” vos Savant maintained that attempts to measure intelligence were “useless,” and she rejected IQ tests as unreliable. In the mid-1980s, with free rein to choose a career path, she packed her bags and moved to New York City to be a writer.

Here, she caught a break: when Parade Magazine wrote a profile on her, readers responded with so many letters that the publication offered her a full-time job. Shortly thereafter, she established “Ask Marilyn,” a now-famous weekly column in which she answered (and continues to answer, to this day) a variety of academic questions and logic puzzles. It was in the body of one of these columns that vos Savant ignited one of the most heated statistical battles of the 21st century.

When vos Savant politely responded to a reader’s inquiry on the Monty Hall Problem, a then-relatively-unknown probability puzzle, she never could’ve imagined what would unfold: though her answer was correct, she received over 10,000 letters, many from noted scholars and Ph.Ds, informing her that she was a hare-brained idiot.

What ensued for vos Savant was a


continue reading





Bitcoin Surges Above $4400 As World Realizes Jamie Dimon & China Don’t Matter

Courtesy of ZeroHedge. View original post here.

Bitcoin just topped $4400 for the first time since in over 3 weeks and has now erased all of the plunge losses from Jamie Dimon's "it's a fraud" and China's shuttering of all local exchanges.

It didn't take long for the world of crypto-currencies to shrug off Jamie Dimon's self-tighteous denigration of the decentralized currency that could directly 'disrupt' his cash cow businesses; and furthermore, as The South China Morning Post reports, China's bitcoin market alive and well as traders defy crackdown.

As SCMP reports, weeks after Beijing banned fundraising through token launches and ordered some bitcoin exchanges to shut, casting a chill over the cryptocurrency industry, traders say that the market is far from dead.

While several exchanges have announced that they will close by the end of this month, traders have now moved to buy and sell bitcoin directly with each other on peer-to-peer marketplaces and messenger apps.

Although the crackdown has dissuaded large swathes of less-experienced investors from participating in the trade, market participants point to the limits Chinese regulators ultimately face in controlling the industry, where many users are anonymous and difficult to track.

In the short-run, the crackdown has also created an arbitrage opportunity for investors, with the price of bitcoin in China now trading at a discount to overseas exchanges.

“They can’t set rules to stop me from investing in what I want to invest in. They say you are protecting me, but as long as I think this is good, they have no way to intervene,” said a Chinese bitcoin investor named Victor, who declined to give his full name citing current sensitivities.

“I can do over-the-counter trades or I’ll go offshore … My wallet is my wallet. I’ve never registered my identification card.”

Over 15 exchanges, including the three largest players OkCoin, Huobi and BTCChina, have since announced that they will close their mainland businesses by the end of September.

Trading has spiked generally on peer-to-peer marketplaces, according to data website Coindance. On OTC platform LocalBitcoins, China trading volumes more than doubled in the week starting September 16 from the previous week to 74 million yuan.


continue reading





Jim Rogers Tells ETF-Holders “The Next Bear Will Be Horrendous”

Courtesy of ZeroHedge. View original post here.

Legendary investor Jim Rogers, who in 1973 founded the Quantum Funds, a prominent family of hedge funds, with then-unknown Hungarian-born financier named George Soros, joined RealVision’s Steve Diggle for a wide-ranging interview where the legendary financier, who moved to Singapore in 2007 with his family because he wanted his children to be immersed in Asian culture, discusses his views on gold, bitcoin, and what makes a good investor – along with his belief that a major correction in financial markets is about to begin.

The interview, which was filmed two weeks ago in Singapore, begins with a discussion of a theme in finance that’s been at the forefront of discussions about the market outlook. Many investors believe that, with volatility at record lows and valuations at record highs, a major shock is imminent. However, these same investors have been burned by uncooperative markets, as an expected selloff has yet to materialize.

Rogers said he stumbled into his first job on Wall Street, but ended up falling in love with it because it allowed him to “follow the world and know about things.”

He added that, over his investing career, Roger's has learned that he has a tendency for his calls to be early. So now when he makes an investment decision, he waits six months before buying.

SD: How do you know the difference between being early and being wrong? Because -

JR: You teach me that, OK? I'd like to know. I'm still trying to learn.

SD: I really don't know, either. I mean, one of the things that has confounded, I think, all of us in this most recent unprecedented rally – I mean, it's not unprecedented in history, but the sort of things that have gone up and the level of volatility we've had that's been unprecedented. The only period that I can compare it to are the late 90s, where just everything in a certain area went up. Now it was almost-- at least in the States, it's almost everything across the board. And there have been plenty of people who've wanted to short the FANGs, to short some of the tech stocks, to short some


continue reading





Behind Vancouver’s Housing Bubble: How Canadian Casinos Are Use To Launder Millions In Chinese Drug Money

Courtesy of ZeroHedge. View original post here.

Nearly two years after we first observed that Vancouver's soaring real estate market is nothing but a bubbling melange of criminal Chinese oligarch "hot money", desperate to get parked offshore in any piece of real estate, but mostly in British Columbia regardless of price, a new multi-year investigation has uncovered extensive links – including money laundering and underground banking – between China's criminal underworld and British Columbia drug and casino cash and VIPs, and their connections to China, Macau and the norotious triads.

Here is Postmedia's real estate reporter Sam Cooper reporting on and explaining how British Columbia casinos are used to launder millions in drug cash.

* * *

On Oct. 15, 2015, a Mountie burst through the front door of an office in Richmond, carrying a battering ram and with a rifle slung on his back. The door swung shut behind him, locking him inside. He was in the lobby of Silver International Investment, a high-end money transfer business, surrounded by bulletproof glass. Behind a second glass door, a woman rushed to make a call while hiding several cellphones. Under her desk was a safe stuffed with bundles of cash. The Mountie, a large man, counted seconds anxiously, wondering if the woman would unlock the interior door.

It was one of 10 police raids in Richmond that day — part of a major investigation that has uncovered massive money laundering and underground banking networks with links to Mainland China, Macau and B.C. casinos, allege the RCMP’s federal organized crime unit and China’s national police service.

Postmedia has spent six months looking into the case, involving freedom of information requests for thousands of documents and dozens of interviews with government and law enforcement sources that were not authorized to be identified. Now, the inside story can be told of the investigations that led B.C.’s attorney general last week to order an independent review of casinos overseen by the B.C. Lottery Corp.

In late August, at a Vancouver conference attended by U.S. and Canadian law enforcement officials, RCMP Insp. Bruce Ward outlined the details of E-Pirate, the investigation into Silver International, Asian organized crime groups, and an alleged $500-million-plus international money laundering service run from Richmond. Central to the money


continue reading





Visualizing America’s Disappearing Workforce

Courtesy of ZeroHedge. View original post here.

In his September 2017 paper entitled 'Where Have All the Workers Gone? An Inquiry into the Decline of the U.S. Labor Force Participation Rate', Alan B. Krueger of Princeton University explores the dramatic fall in labor force participation in the U.S. from 1997 to 2017.

As Statista's Martin Armstrong shows in the infographic below, over the last twenty years, the rate has fallen the most for the under 20's, with the share of 16 to 17 year olds in work dropping by 18.4 and 16.2 percentage points for men and women, respectively.

Infographic: America's Disappearing Workforce | Statista

You will find more statistics at Statista

As Krueger reports, last year, Italy was the only OECD country which had a lower participation rate of prime age men than the United States. One of the reasons posited by the research is the opioid crisis currently ravaging the country. Labor force participation rates have fallen more in areas where more opioid pain medication is prescribed. According to the Centers for Disease Control and Prevention, the amount of opioids prescribed in 2015 was three times higher than it was in 1999.

As noted in the paper, while the direction of causality is not clear, a 2017 report by David Mericle entitled 'The Opioid Epidemic and the U.S. Economy' states that “the opioid epidemic is intertwined with the story of declining prime-age participation, especially for men, and this reinforces our doubts about a rebound in the participation rate.”

But as we pointed out previously, after spending months, or maybe even years, running very complicated regressions that your simple mind could never possibly understand, Krueger would like for you to believe that it's the growing opioid epidemic that is forcing men to sit on their couches all day rather than look for work.  Here's a summary of his findings from the Brookings Institute:

The increase in opioid prescriptions from 1999 to 2015 could account for about 20 percent of the observed decline in men’s labor force participation (LFP) during that same period.

In “Where have all the workers gone? An inquiry into the decline of the


continue reading





Catalan Leader: “We Have Earned The Right To Form An Independent State”

Courtesy of ZeroHedge. View original post here.

Though the results of today's referendum have yet to be announced, separatists in Catalonia are urging the government to declare independence from Spain, citing today's violent crackdown as the reason. In a rousing speech following the close of voting, Carles Puigdemont, the leader of the Catalan government, said his citizens have earned the right to form an independent state and that the results of the referendum, to be announced shortly, will be sent to the local parliament for ratification.

Though the central government in Spain declared the refendum illegal, and sent federal Civil Guard and National Police forces to try and suppress the vote in a dramatic crackdown that sent shockwaves around the globe, police only managed to shut down a small sliver of polling stations, allowing many in the region of more than 7 million people which has a larger economy than Portugal, to cast ballots.

(1) A vosaltres, que heu ensenyat al món el civisme d'un poble pacífic, que heu resistit vexacions i repressió, us dono les gràcies #1Oct pic.twitter.com/TmofPAfHmU

— Carles Puigdemont (@KRLS) October 1, 2017

In his public remarks, delivered shortly after a speech from Spanish Prime Minister Mariano Rajoy, Puigdemont also said that "with this day of hope and suffering, the citizens of Catalonia have won the right to an independent state in the form a republic." He also said that the EU could no longer “continue to look the other way” from human rights violations around the referendum, according to a translation in the Guardian.

"The Spanish government has today written a shameful page in its relationship with Catalonia," adding that there had been abuses of human rights committed by Spanish police.

Puigdemont added that he will keep his pledge to declare independence unilaterally if the "Yes" side wins. A law passed by the Catalan parliament says a win of more than 50% for the "Yes" side will trigger a declaration of independence within 48 hours of the vote regardless of the turnout. He appealed to European leaders, saying the Catalan crisis was "no longer an internal Spanish matter".

"The Catalan government will transmit to the


continue reading





Nasdaq Breakout

Courtesy of Declan.

It has been slow in coming but Friday delivered on the week’s promise. Friday offered a solid clean break of resistance on higher volume accumulation. It was a text book breakout accompanied by a MACD trigger ‘buy’.  The only concern bulls will have for the coming week is a ‘bull trap’ marked by a two-bar reversal.

The Nasdaq 100 did well but not enough to push the breakout. Volume registered as accumulation and there was a weak On-Balance-Volume ‘buy’ trigger. Next week could be when the Nasdaq 100 joins the Nasdaq beyond 6000.

Sleeper play-of-the-week went to the S&P. I wasn’t expecting much from the index but it delivered with good supporting technicals.  Momentum players can be looking for a move to projected channel resistance with no direct overhead resistance to contend with. The only disappointment is the sharp underperformance relative to other indices (on the plus side, when in the ascendancy it will benefit from money rotation into ‘safe’ Large Cap stocks).

The Russell 2000 did most of its hard work earlier in the week and it only managed small gains on Friday; going forward, any support test of the breakout will likely take a couple of weeks given how far it has moved from such support. Any tag of 1,450s should be bought with a stop on a loss of 1,450.  Relative performance remains good.

The Semiconductor Index recovered from what had the look of a ‘bull trap’ as Friday saw new highs. This is good news for both the Nasdaq and Nasdaq 100 with an additional breakout in resistance in the relative relationship against the Nasdaq 100. Signs look good for further gains.

Supporting Nasdaq breadth metric, the Nasdaq Summation Index, has offered a smooth ride higher but in the 500s it will now find itself approaching an area typically associated with reversals in the Nasdaq. However, with the Nasdaq having just broken resistance will this mean the risk of a ‘bull trap’ is now higher?


continue reading





Mnuchin Insists “The Rich Won’t Benefit” From Trump’s Tax-Reform Plan

Courtesy of ZeroHedge. View original post here.

Two days after the nonpartisan Tax Policy Center announced that the White House’s tax reform plan would raise taxes on about 12% of taxpayers, Treasury Secretary Steven Mnuchin took to the Sunday talk shows to defend the Trump tax plan, which was unveiled Wednesday in a nine-page document.

And in characteristic Trump Administration fashion, In an appearance on “This Week” with George Stephanopoulos, Mnuchin repeatedly countered questions about the plan's impact on Trump's tax rate, or if it would raise taxes on middle-class Americans to fund large cuts for the rich, by noting that the details of the legislation had not yet been worked out, before prommising that all of Stephanopoulos's complaints would be rectified when the bill is written in committee.

During the interview, Stephanopoulos pressed Mnuchin about research showing that 80% of the financial benefits from the plan would accrue to the top 1%, and other details of the TPC’s analysis – including claims that Trump and his family would benefit financially from the repeal of the estate tax, the repeal of the AMT, and cuts to the pass-through rate, among other provisions.

Earlier in the week, NEC Chief Gary Cohn raised hackles among Trump critics by saying he couldn't guarantee that the bill wouldn't raise taxes on some members of the middle class.

With President Trump unwilling to release his tax returns, how will the American people ever know whether or not Trump benefits from his own tax plan? Stephanopoulos asked, before bringing up the president’s promise during a speech introducing the plan in Indiana earlier this week that he wouldn’t benefit from the plan.

Mnuchin responded that he was certain the president would provide whatever information necessary to prove that he wouldn’t benefit.

“It’s very important that we have guardrails around those rules. This isn’t about creating a tax cut for the rich. We’re going to make sure that that’s not a way for the rich to pay lower taxes than they should, whether it’s the president or anyone else.”

When pressed about the plan’s lowering of the top tax brackets, Mnuchin responded that these changes would be more than offset by eliminating


continue reading





 
 
 

ValueWalk

#1 Performing Global Macro Hedge Fund Sees More Shorts Opportunities Ahead As China Bursts

By Jacob Wolinsky. Originally published at ValueWalk.

Crescat Global Macro Fund update to investors on 1/19/2019

Crescat Global Macro Fund and Crescat Long/Short fund delivered strong returns for both December and full year 2018 in a difficult market. Based on ...



more from ValueWalk

Zero Hedge

Johns Hopkins, Bristol-Myers Face $1 Billion Suit For Infecting Guatemalan Hookers With Syphilis 

Courtesy of ZeroHedge. View original post here.

A federal judge in Maryland said Johns Hopkins University, pharmaceutical company Bristol-Myers Squibb and the Rockefeller Foundation must face a $1 billion lawsuit over their roles in a top-secret program in the 1940s ran by the US government that injected hundreds of Guatemalans with syphilis, reported Reuters.

Several doctors from Hopkins an...



more from Tyler

Phil's Favorites

Divisive economics

 

Guest author David Brin — scientist, technology consultant, best-selling author and futurist — explores the records of Democrats and Republicans on the US economy in the following post. For David's latest posts, visit the CONTRARY BRIN blog. For his books and short stories, visit his web...



more from Ilene

Kimble Charting Solutions

Stock declines did not break 9-year support, says Joe Friday

Courtesy of Chris Kimble.

We often hear “Stocks take an escalator up and an elevator down!” No doubt stocks did experience a swift decline from the September highs to the Christmas eve lows. Looks like the “elevator” part of the phrase came true as 2018 was coming to an end.

The first part of the “stocks take an escalator up” seems to still be in play as well despite the swift decline of late.

Joe Friday Just The Facts Ma’am- All of these indices hit long-term rising support on Christmas Eve at each (1), where support held and rallies have followed.

If you find long-term perspectives helpf...



more from Kimble C.S.

Digital Currencies

Transparency and privacy: Empowering people through blockchain

 

Transparency and privacy: Empowering people through blockchain

Blockchain technologies can empower people by allowing them more control over their user data. Shutterstock

Courtesy of Ajay Kumar Shrestha, University of Saskatchewan

Blockchain has already proven its huge influence on the financial world with its first application in the form of cryptocurrencies such as Bitcoin. It might not be long before its impact is felt everywhere.

Blockchain is a secure chain of digital records that exist on multiple computers simultaneously so no record can be erased or falsified. The...



more from Bitcoin

Insider Scoop

Cars.com Explores Strategic Alternatives, Analyst Sees Possible Sale Price Around $30 Per Share

Courtesy of Benzinga.

Related 44 Biggest Movers From Yesterday 38 Stocks Moving In Wednesday's Mid-Day Session ...

http://www.insidercow.com/ more from Insider

Chart School

Weekly Market Recap Jan 13, 2019

Courtesy of Blain.

In last week’s recap we asked:  “Has the Fed solved all the market’s problems in 1 speech?”

Thus far the market says yes!  As Guns n Roses preached – all we need is a little “patience”.  Four up days followed by a nominal down day Friday had the market following it’s normal pattern the past nearly 30 years – jumping whenever the Federal Reserve hints (or essentially says outright) it is here for the markets.   And in case you missed it the prior Friday, Chairman Powell came back out Thursday to reiterate the news – so…so… so… patient!

Fed Chairman Jerome Powell reinforced that message Thursday during a discussion at the Economic Club of Washington where he said that the central bank will be “fle...



more from Chart School

Members' Corner

Why Trump Can't Learn

 

Bill Eddy (lawyer, therapist, author) predicted Trump's chaotic presidency based on his high-conflict personality, which was evident years ago. This post, written in 2017, references a prescient article Bill wrote before Trump even became president, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



more from Our Members

Biotech

Opening Pandora's Box: Gene editing and its consequences

Reminder: We are available to chat with Members, comments are found below each post.

 

Opening Pandora's Box: Gene editing and its consequences

Bacteriophage viruses infecting bacterial cells , Bacterial viruses. from www.shutterstock.com

Courtesy of John Bergeron, McGill University

Today, the scientific community is aghast at the prospect of gene editing to create “designer” humans. Gene editing may be of greater consequence than climate change, or even the consequences of unleashing the energy of the atom.

...

more from Biotech

Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...



more from M.T.M.

OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



more from OpTrader

Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

...

more from Promotions





About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>