Posts Tagged ‘Arizona’

Rep. Gabrielle Giffords shot

Updated EST 3:22 PM: Washington Post reports that seven adults, one child among those hospitalized. The hospital will hold a press conference at 1:30 local time.

Update EST 3:05 PM: CNN interviews hopstial spokesperson who says that Giffords is in surgery, and still alive.

—-

Rep. Gabrielle Giffords, D-Ariz., was shot in the head and an unknown number of others were wounded Saturday when an assailant sprayed bullets into an area where the lawmaker was meeting with constituents, congressional officials said.

These officials said one of the victims died soon after the attack, and others were taken to a nearby hospital.

The officials said the wounded included some of Gifford’s aides who were with her at the time.

The officials who described the events did so on condition of anonymity, saying they were not permitted to comment publicly.

More here: Rep. Gabrielle Giffords shot – Terrorism – Salon.com.


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US Ceding Parts of Arizona to Criminal Activity, As It Has Been Doing in the Financial Markets

US Ceding Parts of Arizona to Criminal Activity, As It Has Been Doing in the Financial Markets

Courtesy of JESSE’S CAFÉ AMÉRICAIN

This situation is an analogue to the US economy, where increasingly larger portions of the financial markets in the US are being ceded to white collar fraud and manipulation by the gangs of New York. The problem is not with law enforcement per se, but that the basic functions of government are being overwhelmed by inept and corrupt lawmakers and regulators, the powerful rule of special interests, and a general lack of concern and disdain for the needs of the ordinary citizens. These are the root cause of the failures of government in the US.

This is not a problem of Republicans versus the Democrats. It is the age old problem of the avarice of an oligarchy of the self-proclaimed elites against the rights of the private individual, and the common people.

"From whence shall we expect the approach of danger? Shall some trans-Atlantic military giant step the earth and crush us at a blow? Never. All the armies of Europe and Asia…could not by force take a drink from the Ohio River or make a track on the Blue Ridge in the trial of a thousand years. No, if destruction be our lot we must ourselves be its author and finisher. As a nation of free men we will live forever or die by suicide."

Abraham Lincoln

"In a press conference ignored by the American national media, the sheriff described how his deputies were outmanned and outgunned by the cartel smugglers who increasingly operate using military tactics and weapons. The result, said Sheriff Babeu, was that a wide corridor of Arizona from the border North to the outskirts of Phoenix is effectively controlled by the cartels. "We do not have control of this area," the sheriff said.

At the same time as the sheriff’s ignored press conference, the national media did cover assurances from the Obama Administration that crime was down at the border; that the border had never been safer. This ludicrous propaganda was based on selected crime stats from San Diego, Phoenix, Austin and San Antonio. The new reign of terror on the border in Arizona was airbrushed out of the picture.

Here’s the real picture Obama does not want you to see. Warning signs were posted this past month by the federal government 80 miles…
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Crossing a Dangerous Threshold

Crossing a Dangerous Threshold

Courtesy of Michael Panzner at Financial Armageddon 

BeatDeadHorse

(Image: Source.)

Although it might seem like I’m beating a dead horse with my frequent updates on the troubles south of our border — see "No Glossing Over This Story," "As Bad As Ever," "Not So Sweet Lies," "Deteriorating Fast," "Failed State in Our Own Backyard" and "Morphing Into an Economic Problem" -- the reality is that things seem to be getting worse with each passing day. In fact, based on the following Human Events commentary by Roger Hedgecock, "Mexican Drug Cartels Control Parts of Arizona," some would say that events have crossed a dangerous threshold.

The United States is ceding parts of Arizona to the Mexican drug cartels. So says Pinal County (Ariz.) Sheriff Paul Babeu.

In a press conference ignored by the American national media, the sheriff described how his deputies were outmanned and outgunned by the cartel smugglers who increasingly operate using military tactics and weapons. The result, said Sheriff Babeu, was that a wide corridor of Arizona from the border North to the outskirts of Phoenix is effectively controlled by the cartels. "We do not have control of this area," the sheriff said.

At the same time as the sheriff’s ignored press conference, the national media did cover assurances from the Obama Administration that crime was down at the border; that the border had never been safer. This ludicrous propaganda was based on selected crime stats from San Diego, Phoenix, Austin and San Antonio. The new reign of terror on the border in Arizona was airbrushed out of the picture.

Here’s the real picture Obama does not want you to see. Warning signs were posted this past month by the federal government 80 miles North of the border on the South side of I-8 between Casa Grande and Gila Bend urging U.S. citizens not to camp or hike in the "Active Drug and Human Smuggling Area" because "Visitors May Encounter Armed Criminals." Here is a picture of one of those signs:

Border

Think about it. A part of America is off limits to U.S. citizens because it is now controlled by an army of foreigners.

U.S. Fish and Wildlife staffers report that the 3,500 acre Buenos Aires National Wildlife Refuge in this area is closed to U.S. citizens as well and is


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Arizona Sells Supreme Court Building in 20 Year $300 Million Leaseback Deal for 3 Month’s School Aid

Arizona Sells Supreme Court Building in 20 Year $300 Million Leaseback Deal for 3 Month’s School Aid

supreme court of arizona Courtesy of Mish 

Going into long term debt to pay short-term operating expenses is fiscally unsound. Going into debt for 20 years for 3 months operating expenses is beyond the absurd. Nonetheless, that is exactly what Arizona did.

Inquiring minds are reading Arizona Sells Supreme Court Building in $300 Million Bond Deal.

Arizona, which sold state prisons and offices to raise cash six months ago, plans to borrow $300 million by marketing its Supreme Court building and about a dozen more properties through leaseback bonds starting today.

Investors will hold ownership of the court building in Phoenix, the fifth-largest U.S. city, and the Arizona Schools for the Deaf and the Blind in Tucson for as much as 20 years, with the securities maturing serially from 2012 through 2029, according to offering documents. Lease payments will back the debt, known as certificates of participation.

Arizona, whose foreclosure rate last year was ranked second-highest after Nevada by RealtyTrac Inc., will use the sale to pay for three months of school aid. The state raised $709 million for education payments when it sold and then leased back nine properties to investors in January.

“From an investor point of view, this is great,” state Treasurer Dean Martin, 35, said in an interview. “The state has to have buildings to operate and we’re the largest employer in Arizona.”

Wrong Point of View

Who gives a rat’s ass if "This is great From an investor point of view"?

Here’s what Arizona taxpayers need to decide: "Is this great from ataxpayer point of view?"

Obviously it is not. Just as with other states, this is more kicking the can down the road action in a bury your head in the sand mentality.

Arizona politicians need to accept reality: This economy is going to be weak for a decade thanks in part to refusal of politicians to address fiscal issues, union salaries, and union pensions now.

The problem is not lack of revenue, the problem is state spending gone rampant, with political hacks lacking the discipline to do anything about it. I do not care how favorable the interest rate or other terms are, going into debt for 20 years to get 3 months operating expenses is simply insane.

Mike "Mish" Shedlock


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Commercial Foreclosures Pick up Speed; Cash-Strapped Landlords let Evictions Lag; Rent Control Idea Straight from the Loony Bin

Commercial Foreclosures Pick up Speed; Cash-Strapped Landlords let Evictions Lag; Rent Control Idea Straight from the Loony Bin

Courtesy of Mish 

Here is a pair of interesting articles from the Arizona Republic regarding an increase in commercial foreclosures and a slowing number of evictions in apartment complexes.

Please consider Commercial foreclosures pick up speed

Mesa Financial Plaza, the 17-story office tower that lights up the night sky with a neon-blue silhouette, has been noticed for trustee sale.

The $40.6 million default is just one of many that are starting to drop in the Valley. The number of defaults for loans of more than $20 million is increasing rapidly for all product types, including office, industrial, retail and large apartment complexes.

Chris Toci, executive director of the capital markets group at Cushman & Wakefield of Arizona Inc., said Phoenix is at the front end of a major crash.

Cash-strapped landlords let evictions lag

One might that that evictions would be rising due to lack of payment but that’s not the case in the Phoenix area as Cash-strapped landlords let evictions lag

Fewer tenants are being evicted from apartments across the Valley, but the decline is more about the dismal state of landlord finances than tenants paying their rent on time.

In the latest fallout from the recession and housing crisis, growing numbers of apartment-complex owners are in serious financial trouble or foreclosure.

Lawyers, a tenant advocate and a commercial real-estate broker point to a variety of factors. Overbuilding in recent years saturated the market with apartments just as homebuilders
and investors added hundreds of single-family dwellings to the rental mix.

Many owners bought large complexes at the market’s peak and then saw values plummet. Forced to cut rents to keep units occupied, they have been left without enough income to pay debts and keep up maintenance. People leaving the state have only added to high vacancy rates.

And although the recession has left many renters unable to pay each month, apartment owners don’t have the money or inclination to boot them.

Andrew Hull, a Phoenix attorney who represents landlords and property managers, said his eviction caseload has declined about 20 percent this year.

For some of his clients, vacancy rates have skyrocketed, and half of the units in their large complexes are empty. Those in bankruptcy don’t have the money to hire attorneys for evictions, Hull


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Hotels Feel the Pain of a Glut of Empty Rooms and Lower Room Rates

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Hotels Feel the Pain of a Glut of Empty Rooms and Lower Room Rates

Resort in ArizonaCourtesy of Mish

Hotels are slashing rates to attract customers. However, it’s not working and Resorts are Suffering From Financial Strains. From Arizona Central …

A glut of empty rooms and panic pricing are taking a serious toll on hotel and resort owners in the Phoenix area.

Foreclosure proceedings were initiated against seven financially squeezed properties, two of them brand new, in the first half of the year. That’s just one less than in all of 2008 and more than double the number in 2007, according to Ion Data, a Mesa real-estate research firm.

There are other signs of financial stress, too, including major liens filed against resorts that recently expanded or renovated, and big projects being put on hold, some midstream.

The worst part: Many experts say the foreclosure woes are likely in the early stages given the volume of big-ticket deals during the boom years, the severity of the hotel downturn in Greater Phoenix and few signs business will solidly rebound anytime soon.

"This is probably still the tip of the iceberg," said Robert Hayward, principal with the Phoenix hospitality consulting and research firm Warnick & Co.

Metro Phoenix, usually a magnet for vacationers and big meetings, continues to post some of the industry’s biggest declines in occupancy, average daily rate and other measures, with many at the lowest levels on record, according to Smith Travel Research.

Preliminary figures show June occupancy was about 45 percent, nearly 10 percentage points, or 17 percent, below June 2008, when occupancy was already hurting. Most are calling it an industry depression, rather than recession.

Richard Warnick of Warnick & Co. said he’d be surprised if nearly all hotels and resorts, here and across the country, weren’t in technical default on their loans, falling below required minimums on debt service coverage, for example, given the sad state of travel. That is often a precursor to more serious financial problems that prompt lenders to foreclose.

Nationally, the number of delinquent hotel loans has been climbing sharply since the recession deepened last fall. The delinquency rate jumped from 0.3 percent of so-called hotel commercial mortgage-backed securities loans in September to 2.8 percent in May, according to Realpoint data provided by real-estate


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Zero Hedge

Comcast, AT&T Set To Become World's Most Indebted Companies With Over $350BN In Debt

Courtesy of ZeroHedge. View original post here.

At a time when the IMF estimates that more than 20% of the world's companies would be unable to cover their interest payments if interest rates moved sharply higher, Comcast and AT&T are poised to become the most indebted companies in the world following media megadeals that leave the two companies with little room to maneuver if profits fail to materialize, according to the ...



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Phil's Favorites

These Are the Goods

 

These Are the Goods

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Articles

What I thought was a major career failure turned out to be the best thing that ever happened to my career ~ by Blair duQuesnay

Learn to love the micro-stakes arena ~ by Tommy Tranfo

If things like research department headcount or manager tenure had any predictive value, then you could throw away your Bloomberg terminal and just use LinkedIn ~ ...



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Chart School

Bitcoin Update - Testing support on cycle low

Courtesy of Read the Ticker.

Due to popular demand, bitcoin review.

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Sure fundamentals do matter, and so does market timing (entry, stops and exit), here at readtheticker.com we believe a combination of Gann Angles, Cycles and ...

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Digital Currencies

BIS Blasts Cryptos In Special Report: "Beyond The Hype"

Courtesy of Mike Shedlock, MishTalk

The BIS blasts cryptos over scaling issues, energy, and trust. The BIS is correct. Cryptos are fatally flawed as money.

A Bank of International Settlements (BIS) report examines cryptocurrencies in depth. The study, called "Looking Beyond the Hype" investigates whether cryptocurrencies could play any role as money.

Bloomberg, Reuters, and the Bitcoin Exchange guide all have articles on the report but not one of the bothered to link to it.

After a bit of digging, I found the crypto report is part of an upcoming BIS annual report. The BIS pre-released the crypto report today (as chapter 5).

Here's a l...



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Insider Scoop

4 Online Trading Shows You Should Watch To Start Your Day

Courtesy of Benzinga.

For most people, the stock market’s regular session (9:30 a.m. - 4 p.m. ET) is the only time they can trade. But there’s a whole other world of action taking place before and after each weekday session.

The pre-market and after-hours sessions (4-9:30 a.m. and 4-8 p.m. respectively) offer not only a time for some experienced individuals to trade, but also the chance to learn about the vast majority of corporate news the moment it’s released.

Because all that market...



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Biotech

Mind molding psychedelic drugs could treat depression, and other mental illnesses

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

Mind molding psychedelic drugs could treat depression, and other mental illnesses

By agsandrew/shutterstock.com

Courtesy of David E. Olson, University of California, Davis

It seems that psychedelics do more than simply alter perception. According to the latest research from my colleagues and me, they change the structures of neurons th...



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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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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 ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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All About Trends

Mid-Day Update

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Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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