Author Archive for Zero Hedge

22-Year-Old New Zealand Man To Appear In Court For Sharing Mosque Attack Video

Courtesy of ZeroHedge. View original post here.

A 22-year-old man will appear in a New Zealand court today following a Friday arrest for allegedly distributing the live stream of the Christchurch mosque shootings, reports RNZ

Police said he was arrested during the initial stages of the investigation on Friday.

He has been charged under the Films Videos and Publications Classification Act and will appear in Christchurch District Court.

Police said they did not believe he was directly involved in the attacks. -RNZ

Brenton Tarrant, 28, used Facebook Live to broadcast the first 17 minutes of his attack on the Al Noor Mosque in Christchurch, New Zealand at approximately 1:40 p.m. on Friday – the first of two mosque attacks which left 50 dead and 50 injured. 

Brenton Tarrant

 

As we noted yesterday, New Zealand authorities reminded citizens over the weekend that they face up to 10 years in prison for simply downloading and storing the video, and up to 14 years for distributing it (h/t Nick Monroe).

Meanwhile, the New Zealand police have sent notice to the owner of the Kiwi Farms internet message board demanding the preservation of IP addresses and email addresses associated with posts related to the Christchurch shootings.

While we suggested earlier that New Zealand authorities could simply be trying to investigate whether Tarrant had online accomplices – it's clear from the arrest and prosecution of the 22-year-old man that authorities are actively pursuing people who had nothing to do with the attack, for exchanging information.  

Interest in the video ranges from morbid curiosity to a desire to analyze it to determine Tarrant's motives, methods, possible accomplices and whether or not it was a "false flag"


continue reading





Doug Casey Destroys The Modern Monetary Theory Miasma

Courtesy of ZeroHedge. View original post here.

Via CaseyResearch.com,

The left has a new obsession… Modern Monetary Theory (MMT).

MMT is an economic theory which essentially argues that the U.S. government wouldn’t need to collect taxes or borrow money to finance spending. It could simply print more money if necessary.

Now, this concept isn’t new. It’s been around for decades. But its popularity has skyrocketed, thanks to endorsements from Democratic presidential candidate Bernie Sanders and Congresswoman Alexandria Ocasio-Cortez (AOC), the new rising star of the Democratic Party.

This new breed of socialist Democrats has embraced MMT because it would make all their crazy ideas possible. The national debt, deficits, and inflation concerns would no longer stand in the way of projects like the Green New Deal or universal healthcare/housing/education.

In short, MMT would give the government a green light to spend money even more recklessly than it does now. That’s a problem.

So I got Doug Casey on the phone to discuss this matter at length…

Justin: Doug, what do you make of Modern Monetary Theory? Would this economic framework help or hurt the U.S. economy?

Doug: MMT centers around the notion that the economy in general, and money in particular, should be the creatures of the State. It’s not a new idea – the meme has been around in one form or another since at least the days of Marx. MMT basically posits that the wise and incorruptible solons in government should create as much currency as they think is needed, spend it in areas they like, and solve any problems that occur with more laws and regulations.

It’s nothing new. Just a more radical version of the economic fascism that’s dominated the U.S. since at least the days of the New Deal. It’s just another name for an old, and very stupid, set of economic ideas. By stupid I mean, “showing an inability to predict the indirect and delayed consequences of actions.”

Politicians are now talking about the supposed benefits of MMT. Pseudo-economists are doing their abstruse and incomprehensible mathematical computations about how it might affect the economy. The public will easily be convinced they’ll get something for nothing.

But what we should be talking about here is moral principle. It’s not a question of whether MMT will work or not work. It won’t. It will work about as well as the economic…
continue reading





Misguided Spying And The New Zealand Massacre

Courtesy of ZeroHedge. View original post here.

Authored by Suzie Dawson via ConsortiumNews.com,

While intelligence agencies were looking in all the wrong places, a conspicuous target slipped through the cracks…

Now that the bodies of 49 innocent human beings are lying in a Christchurch, New Zealand, morgue — gunned down by a heavily armed terrorist — New Zealand media are asking the obvious questions: why didn’t our intelligence agencies know there were xenophobic, murderous, white supremacists on the loose in Christchurch?

"If it’s a cell we need to ask why weren’t they detected, because that’s why we have security services and it may be that those services have been looking under the wrong rocks.’ ”

Still from video the gunman shot of his own rampage. (Twitter)

According to the same article, in response to the terrorist attack, “A crisis meeting of national security agencies was held at Police National Headquarters in Wellington after the shooting.“

In the NZ Herald, veteran intelligence reporter David Fisher asked many pertinent questions in an opinion piece titled “Christchurch massacre – what did we miss and who missed it?”

“We need answers,” says Fisher.

“The NZSIS [New Zealand’s equivalent of the FBI] – and its electronic counterpart, the Government Communications Security Bureau – have more funding than ever, and almost double the staff numbers they had six years ago. They also now have the most powerful legislation they have ever had.”

We know thanks to the findings of an inquiry by the State Services Commission last December that as many as a dozen government agencies, including the NZ Police, were too busy squandering their resources spying on NGOs such as GreenpeaceNZ; political parties such as the New Zealand Green Party and then-Internet Party aligned Mana Movement, as well as on anti-TPP protesters and activists such as myself.

As if that weren’t egregious enough, they were even spying on Christchurch earthquake insurance claimants and historical victims of institutional state child abuse.

An ex-cabinet minister and now chief executive of Greenpeace New Zealand, Russel Norman called it“New Zealand’s Watergate moment.”


continue reading





Son Publicly Defends Parents Implicated In Admissions Scandal While Smoking Blunt

Courtesy of ZeroHedge. View original post here.

The son of Gregory and Marcia Abbott, two parents involved in the recent college admissions scandal, defended his parents to the New York Post outside of the family's Fifth Avenue building this week – while smoking a blunt and promoting his latest rap CD.

"Rapper" Malcom Abbott said about the scandal: 

“They’re blowing this whole thing out of proportion. I believe everyone has a right to go to college, man.”

In the midst of smoking a moderately sized blunt, Malcolm continued: "I didn’t go to college".

His father is the founder of food and beverage distributor International Dispensing Corporation and his sister was one of the college students in question. She allegedly had her ACT and SAT scores boosted as a result of bribes her parents paid.

After he got done defending his parents, the ponytailed Malcolm, who raps under the name "Billa", then told the New York Post to check out his music. “Check out my CD, ‘Cheese and Crackers,’ ” he said. Upon leaving the building later in the day with his brother, he said that his parents had "got roped into [this by] some guy who f–king cheated them."

That defense should hold up in court.

More specifically, Abbott's parents are being accused of paying $125,000 in bribes to help their daughter get into college. The man they allegedly paid the bribes to – scheme mastermind William Rick Singer - paid off a test proctor to inflate their daughter's test scores to a perfect 800 on the SAT math and 710 on the SAT verbal. On the ACT test, her score of 23 out of 36 was changed to a near perfect 35, according to court documents. Both parents were out on $500,000 bail at the time.

Somewhere, in prison, Martin Shkreli is shaking his head. 





Smartphone Shipments In China Collapse To Six Year Low

Courtesy of ZeroHedge. View original post here.

Months after Apple stunned the market by announcing it would no longer be reporting quarterly iPhone unit sales, we have some insight as to the reason. February saw smartphone shipments in China collapse to their lowest levels in six years, indicating that the super-saturated industry has failed to turn around amidst a global economy that is grinding slower. 

Shipments to China came in at 14.5 million units for February, down 19.9% from last year, according to Reuters, who cited the China Academy of Information and Communications Technology. It's the lowest total since February 2013.

February is traditionally a tough month for Chinese consumer purchases, as the Chinese spend a majority of the month celebrating the new year. However, this year's drop was more concentrated than past years, as a result of both a slowing economy and the ongoing U.S./China trade war. 

When Apple recently cut sales forecasts this year, it blamed China for weighing on its results. To try and stimulate demand, the company paired with China-based Ant Financial to offer interest-free iPhone financing. Other retailers in China have tried similar promos to try and spur demand. 

This has some manufacturers, like Huawei, looking to corner the higher margin end of the market instead. Huawei saw its market share of China's $500 to $800 device segment rise to 26.6% from 8.8% in 2018, according to data from Counterpoint Research. Apple, on the other hand, saw its share fall to 54.6% from 81.2%. 

As an added bonus, we recently reported on Chinese smartphones also emitting the most radiation of any smartphones worldwide. 

The current smartphone creating the highest level of radiation is the Mi A1 from Chinese vendor Xiaomi. Another Chinese phone is in second place – the OnePlus 5T. In fact, the two companies are represented heavily in a list of "Phones Emitting the Most Radiation" that was recently released by Statista. 8 of the top 16 handsets being made by one of these two companies. Premium Apple phones, such as the iPhone 7 and the iPhone 8 are also here to be seen, as are the latest Pixel handsets from Google.


continue reading





Next, New Zealand Firearms: They Never Learn

Courtesy of ZeroHedge. View original post here.

Authored by Leesa Donner via LibertyNation.com,

Knee jerk reaction to tragedy ignores the harsh reality…

Getting your hands on a firearm in New Zealand is no easy task. Everyone knows this and yet here we are again having the same old knee-jerk discussion about more gun control, following a shooting at two mosques in Christchurch early Friday.

At this writing, the death toll stands at 50, and approximately two dozen people remain hospitalized. Like all acts of terror, ‘tis a sad tale, indeed.

At such times it is a politician’s wont to rush to judgment, to try and fix things and come out of it all looking very moral and heroic. Customarily these efforts result in making the situation worse. Such appears to be the case as the prime minister of New Zealand prepares to “fix” the country’s gun problems with more restrictions in the wake of this tragedy.

But here’s the rub: New Zealand already has quite a strict gun control policy as it is. Owning a firearm in the land of the Kiwi is not a right but rather a privilege bestowed upon those who are willing to run the gauntlet of gun laws. And they are many. Everyone must be licensed and background checked. They must all take a safety class – it is a long and arduous process to legally own a firearm. If you can think up a gun control law, New Zealand likely already has it on the books.

It’s Never Enough

Guess what all these firearm restrictions did to stop Friday’s tragedy? How about nothing. If you look at the facts of the case (and they are difficult to ascertain amid all the vitriol), one could even make the case that New Zealand’s totalitarian gun laws made the situation worse. How so? If you dig into what really happened, you will notice that a heroic bystander wrestled the weapon from the shooter and managed to fire two rounds as the attacker attempted to flee the scene.

Ah yes – the old good guy with a gun scenario that gun control advocates love to ignore time and again.


continue reading





Doctors’ Bills Play Role In Majority Of Personal Bankruptcies 

Courtesy of ZeroHedge. View original post here.

Outstanding medical debt has become a common theme among personal bankruptcies in America, according to a March survey in the American Journal of Public Health - with nearly 60% of people admitting a medical expense "very much" or "somewhat" contributed to their bankruptcy - more than the percentage who cited home foreclosure or student loans. 

As The Atlantic's Olga Khazan notes, this "uniquely American phenomenon" is due to a number of factors, including an increasing lack of insurance, crappy high-deductible insurance, and a woefully erroneous medical billing system. 

There are as many reasons for the medical-debt crisis as there are diagnostic codes that rule the medical-billing world. In interviews, half a dozen consumer advocates told me they are concerned that the problem will get worse, since the uninsured rate is going up, and more people are signing up for cheaper but skimpier health-insurance plans introduced by the Trump administration. More Americans are also now on high-deductible health plans, many of which require patients to pay thousands before insurance kicks in. Networks of doctors have grown narrower, meaning more providers are likely to be out of network. -The Atlantic

"We were seeing hospitals sending debtors to debt collections without saying anything to the debt collectors," said Emilia Morris – legal direct of Central California Legal Services. "The debt collectors are trying to collect these debts without making charity care available. The patient sometimes gets sued, gets a judgment entered against them, without ever having heard of charity care."

In a statement, an American Hospital Association spokesperson told me that in 2017, hospitals provided more than $38 billion worth of care to patients who could not afford it otherwise. “Hospitals across the country strive to find ways to help under- and uninsured patients navigate the health system,” the spokesperson said. “Hospitals offer charity care programs, check public assistance to see if the patient qualifies and provide discounts to these patients when possible. Every day, America’s hospitals treat patients who can make only minimal payment, or no payment at all.” -The Atlantic

Despite the financial assistance, around 20% of Americans have a medical claim on their
continue reading





Shelter-In-Place, Close Air Vents Order Given As “Uncontrolled” Chemical Fire Rages In Houston Area

Courtesy of ZeroHedge. View original post here.

A petrochemical terminal is on fire at an oil storage facility in Deer Park, Texas just outside of Houston and has been raging throughout the day Sunday. City officials have warned residents to shelter in place and further advised them to close air ventilation systems in their homes and close all windows.

As of 4:30pm central local reports said the fire remains "uncontrolled" and expanded the extent of the shelter in place order. 

Image source: The Houston Chronicle 

 

"City of Deer Park issuing SHELTER-IN-PLACE emergency in Deer Park," the city wrote in a tweet at Sunday morning. "Please take immediate action and seek shelter," multiple warnings directed.

In a follow-up warning issued in the afternoon the city said, "Residents are asked to remain sheltered and avoid going outdoors if at all possible. Community air monitoring is being conducted and additional updates will be provided as they become available."

 

Still frame of local news coverage at the Intercontinental Terminals Company in Deer Park.

 

Nearby Pasadena also told residents that Harris County Pollution Control was conducing air quality monitoring tests of the area, and cautioned residents to stay indoors if at all possible.

Firefighters and emergency response crews battled the fire at the Intercontinental Terminals Company in Deer Park, about 15 miles (24 kilometers) southeast of Houston.

According to the Associated Press:

Harris County officials say the fire started


continue reading





The World Economy’s Industrial Downswing

Courtesy of ZeroHedge. View original post here.

Authored by Jeffrey Snider via Alhambra Investment Partners,

As economic data for 2019 comes in, the numbers continue to suggest more slowing especially in the goods economy. Perhaps what happened during that October-December window was a soft patch. Even if that was the case, we should still expect second and third order effects to follow along from it.

Starting with Europe first, Germany’s deStatis had earlier reported factory orders and production levels in January 2019 while higher than December still keeping within the same trend. These were lower compared to the prior January, meaning a contraction in annual terms that has at least spilled over into this year.

Eurostat’s estimates of Industrial Production for all of Europe, including those collected from Germany and repurposed, unsurprisingly follow the same way.

Year-over-year, production in Europe has declined in each of the last three months up to and including January. The rate of contraction is, already, about equal to the worst months of the 2012-13 declared recession.

And while Mario Draghi may have still been talking about his booming European economy as late as October, European industry has had it like a recession going as far back as last May if not an earlier inflection all the way back in December 2017.

In other words, the word “unexpected” has rematerialized in most commentary but the trend has been in place for a good long while already. Maybe the whole of last year. This simply means it is not something European official should have so easily dismissed, which they will always do, and certainly not something they should take lightly this year. This much time going the wrong way can only be a serious economic concern.

Europe’s misfortune was supposed to be just that; European. Of course, that’s not the way these things work. The global economy, tied together by the conditions of a truly global currency, is going to act in harmony in whichever direction it is forced to move.

Decoupling was merely a misinterpretation of timing. Europe was weak, the US appearing…
continue reading





Boeing CEO Issues Statement After “Clear Similarities” Exposed In Both 737 Crashes

Courtesy of ZeroHedge. View original post here.

Update (4:55pm ET): Boeing Chairman, President and CEO Dennis Muilenburg issued the following statement regarding the report from Ethiopian Transport Minister Dagmawit Moges today.

First and foremost, our deepest sympathies are with the families and loved ones of those onboard Ethiopian Airlines Flight 302.

Boeing continues to support the investigation, and is working with the authorities to evaluate new information as it becomes available. Safety is our highest priority as we design, build and support our airplanes.  As part of our standard practice following any accident, we examine our aircraft design and operation, and when appropriate, institute product updates to further improve safety. 

While investigators continue to work to establish definitive conclusions, Boeing is finalizing its development of a previously-announced software update and pilot training revision that will address the MCAS flight control law's behavior in response to erroneous sensor inputs

We also continue to provide technical assistance at the request of and under the direction of the National Transportation Safety Board, the U.S. Accredited Representative working with Ethiopian investigators.

In accordance with international protocol, all inquiries about the ongoing accident investigation must be directed to the investigating authorities.

So, Boeing is "finalizing" a for its software (presumably because they found an issue in the code's logic?), but have no idea – or are unwilling to say – what the cause of the deadly crashes are?

*  *  *

As we detailed earlier, in perhaps the least surprising headline of the weekend, preliminary data retrieved from the flight data recorder of the Ethiopian Airlines plane that crashed shows "a clear similarity" with an earlier disaster in Indonesia, Ethiopia's transport minister said Sunday.

As we have already pointed out, the planes in both crashes flew with erratic altitude changes that could indicate the pilots struggled to control the aircraft. Shortly after their takeoffs, both crews tried to return to the airports but crashed.

And now we have confirmation of a systemic problem for Boeing 737 Max jetliners.

AP reports that Dagmawit Moges told…
continue reading





 
 
 

Phil's Favorites

You're a Liar

 

You’re a Liar

Courtesy of 

Brendan Mullooly asked a bunch of people the following question:

What do you consider to be your biggest behavioral bias (as it pertains to investing or personal finance) and how do you work to control it?

My answer:

Hindsight bias was my biggest hurdle to overcome.

Hindsight bias makes one part of our brain lie to another part without even realizing it. The way I conquered my internal liar was to write down all of my trades and why I did them. Once every few weeks I would read what I wrote in order to check myself. If I knew Amazon was going higher, why di...



more from Ilene

Zero Hedge

China Is Spending Billions To Dethrone The U.S. In Race For The World's Fastest Supercomputer

Courtesy of ZeroHedge. View original post here.

China is currently in the midst of a multi-billion dollar investment cycle to upgrade its supercomputer infrastructure in a bid to pass the United States for fastest supercomputer in the world after the United States regained the title for fastest supercomputer in 2018, ending a five-year reign of Chinese dominance.

As SCMP notes, China had been first on the global Top 500 list of supercomputers sinc...



more from Tyler

Kimble Charting Solutions

Germany Breakout Bullish For Stocks In The States!

Courtesy of Chris Kimble.

An important message to stocks in the states will come from Germany in the next few weeks!

This chart looks at the DAX index from Germany over the past 10-years. For the majority of the past 6-years, the DAX has remained inside of rising channel (1). The 2018 decline saw the DAX hit support where a 1-year counter-trend rally started.

Over the past year, the DAX has created a new falling channel (2). It is now testing the top of this falling channel and the lows of last February at (3).

For most of last year, the DAX created a bearish divergence with the...



more from Kimble C.S.

ValueWalk

Pension Flows Add 5 More Years To Credit Boom/Bust Cycle

By Michelle Jones. Originally published at ValueWalk.

The pension crisis has been capturing headlines for years, but there’s another layer to the pension issue that’s starting to draw attention to itself. Public pension funds have shown an increasing appetite for credit and related holdings, the latest round of pension flows demonstrates that this trend continues One analyst believes pensions are largely to blame for the extremes of the boom/ bust cycles we’ve seen over the last year or so. He now suggests that the equity bull market could last another five years—thanks to the extremes driven by pension funds.

...

more from ValueWalk

Insider Scoop

Needham: Facebook No Longer A Buy Amid A 'Negative Network Effect'

Courtesy of Benzinga.

The bullish case for Facebook, Inc. (NASDAQ: FB)'s stock has come to an end, according to Needham.

The Analyst

Needham's Laura Martin downgraded Facebook from Buy to Hold with no price target.

The Thesis

Needham's multi-year bullish stance on Facebook's stock can no longer be justified for three key reasons, Martin said in a research report. These include:

  1. A negative potent...


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

Biotech

Marijuana is a lot more than just THC - a pharmacologist looks at the untapped healing compounds

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

 

Marijuana is a lot more than just THC - a pharmacologist looks at the untapped healing compounds

Assorted cannabis bud strains. Roxana Gonzalez/Shutterstock.com

Courtesy of James David Adams, University of Southern California

Medical marijuana is legal in 33 states as of November 2018. Yet the federal government still insists marijuana has no legal u...



more from Biotech

Chart School

Wyckoff Price Thrust Measure

Courtesy of Read the Ticker.

Richard Wyckoff said in his last days as an educator,'follow the waves'. And an important measure of those waves is the 'thrust'. The thrust of price into new ground, considering price and volume support or lack of it. The price wave thrust is clear visual presentation of the composite man demand or supply characteristics: strong, mild, weak or confused. 

readtheticker.com favored trend tool named RTTTrendStatus sister indicator RTTTrendThrust shows off Wykcoff measure of price thrust. RTTTrendThrust can be used to assist mechanical trading systems...

more from Chart School

Digital Currencies

Facebook's cryptocurrency: a financial expert breaks it down

 

Facebook's cryptocurrency: a financial expert breaks it down

Grejak/Shutterstock

Courtesy of Alistair Milne, Loughborough University

Facebook is reportedly preparing to launch its own version of Bitcoin, for use in its messaging applications, WhatsApp, Messenger and Instagram. Could this “Facecoin” be the long-awaited breakthrough by a global technology giant into the lucrative market for retail financial services? Or will...



more from Bitcoin

Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



more from Our Members

Mapping The Market

It's Not Capitalism, it's Crony Capitalism

A good start from :

It's Not Capitalism, it's Crony Capitalism

Excerpt:

The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.

This all-encompassing mutant corruption saps men’s souls, crushes opportunities, and destroys economic mobility. Its a Smash & Grab system of ill-gotten re...



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 >>