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.

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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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Phil's Favorites

How to make fragile global supply chains stronger and more sustainable

 

How to make fragile global supply chains stronger and more sustainable

Shipping containers are moved from the Fairview Cove Container Terminal In Halifax in May 2021. THE CANADIAN PRESS/Andrew Vaughan

Courtesy off Adel Guitouni, University of Victoria; Cynthia Waltho, University of Victoria, and Mohammadreza Nematollahi, University of Victoria

...

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Digital Currencies

Ethereum: the transformation that could see it overtake bitcoin

 

Ethereum: the transformation that could see it overtake bitcoin

The crypto wars are hotting up. Wit Olszewski

Courtesy of Daniel Broby, University of Strathclyde

The world’s second most valuable cryptocurrency, ether, has been touching all-time highs in price ahead of a major upgrade of its underlying platform, ethereum. Ether is currently worth in aggregate just shy of US$500 billion (£363 billion). That’s still slightly less than half that of the biggest cryptocurrency, bitcoin.

...

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Zero Hedge

Wait Until All These New Homebuyers See Their Property Taxes Go Up Next Year

Courtesy of ZeroHedge View original post here.

To add another chapter to the "our economy is a ponzi scheme bubble that is bound to eventually burst" argument, those who went out and overpaid for property this year may wind up with a hangover in the form up skyrocketing property taxes.

We all know that higher real estate prices (hereinafter referred to as "a real estate bubble") are often praised by government and Fed officials as signs of progress for the economy. They're great news for those who already own property and terrible news for those looking to enter the m...



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Politics

Trump wants the National Archives to keep his papers away from investigators - post-Watergate laws and executive orders may not let him

 

Trump wants the National Archives to keep his papers away from investigators – post-Watergate laws and executive orders may not let him

Nixon resigned after tapes he had fought making public incriminated him in the Watergate coverup. Bettmann/Getty

Courtesy of Shannon Bow O'Brien, The University of Texas at Austin College of Liberal Arts

The National Archives is the United States’ memory, a repository of artifacts that includes everything from half-fo...



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Biotech/COVID-19

An infectious disease expert explains new federal rules on 'mix-and-match' vaccine booster shots

 

An infectious disease expert explains new federal rules on ‘mix-and-match’ vaccine booster shots

Discuss with your doctor whether or not you need a booster – and if so, which vaccine will work best for you. Justin Sullivan/Getty Images News via Getty Images

Courtesy of Glenn J. Rapsinski, University of Pittsburgh Health Sciences

Many Americans now have the green light to get a COVID-19 vaccine booster – and the flexibility to receive a different brand than the ori...



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Chart School

Price and Volume Swing Analysis on Bitcoin and Silver

Courtesy of Read the Ticker

Many take guidance from news, pundits or advisors. Well sometimes the swings of price and volume are a better measure of what happens next.

The big boys do not accumulate or distribute in single 1 second trade, they build positions over weeks, months and years. They use price swings in the market to build or reduce positions, and you can see their intent by studying swings of price and volume and applying Tim Ord logic as written in his book called 'The Secret Science of Price and Volume: Techniques for Spotting Market Trends, Hot Sectors, and the Best Stocks'.

Tim Ord is a follower of Richard Wyckoff logic, his book has added to the studies of Richard Wyckoff, Richard Ney and Bob Evans.

Richard Wyckoff after years of...

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Promotions

Phil's Interview on Options Trading with TD Bank

TD Bank's host Bryan Rogers interviewed Phil on June 10 as part of TD's Options Education Month. If you missed the program, be sure to watch the video below. It should be required viewing for anyone trading or thinking about trading using options. 

Watch here:

TD's webinar with Phil (link) or right here at PSW

Screenshots of TD's slides illustrating Phil's examples:

 

 

&n...



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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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





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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...

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