Posts Tagged ‘economic boom’

Pollution Creates “Cancer Villages” in China

Pollution Creates "Cancer Villages" in China

Courtesy of Mish

One way to measure the cost of growth is in lives. Please consider China’s "cancer villages" bear witness to economic boom.

One needs to look no further then the river that runs through Shangba to understand the extent of the heavy metals pollution that experts say has turned the hamlets in this region of southern China into cancer villages.

The river’s flow ranges from murky white to a bright shade of orange and the waters are so viscous that they barely ripple in the breeze. In Shangba, the river brings death, not sustenance.

"All the fish died, even chickens and ducks that drank from the river died. If you put your leg in the water, you’ll get rashes and a terrible itch," said He Shuncai, a 34-year-old rice farmer who has lived in Shangba all his life.

"Last year alone, six people in our village died from cancer and they were in their 30s and 40s." Every year, an estimated 460,000 people die prematurely in China due to exposure to air and water pollution, according to a 2007 World Bank study.

Cancerous Waters

Here is the first image of a 10-image set of a slide show on cancerous waters.

A lake near Da Bao Shan in the northern part of China’s Guangdong province turns reddish brown after the water was contaminated for years August 27, 2009. It is highly unusual for people to contract cancer at tender ages, but not in the villages around Da Bao Shan, one of China’s largest mine that produces lead, zine, cadmium and other heavy metals.

Lead Poisoning Concerns

Inquiring minds are reading Lead poisoning latest China safety concern.

China’s environmental protection minister has called for more effective measures to tackle heavy metal poisoning, state media said on Thursday, as anger grows among parents with children poisoned by lead.

Incidents of lead poisoning have dogged China’s heavy metal bases in Shaanxi, Hunan, Henan and Yunnan provinces, leading to temporary closures of smelters after protests by parents angry at their children’s illnesses.

  • In August, more than 800 children living near a Dongliong Group-run lead smelter in Shaanxi province showed high levels of lead poisoning, with 174 admitted to hospital. Angry that the plant had not been fully shut, parents attacked it on


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An Anthropologist on What’s Wrong with Wall Street

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An Anthropologist on What’s Wrong with Wall Street

Courtesy of TIME, by Barbara Kiviat. 

Anthropologist on What's Wrong with Wall St.In 1996, Karen Ho got a job on Wall Street. The student of anthropology, who would later go on to get her Ph.D., was fascinated by how even in the midst of an economic boom, corporate downsizings were rampant — and how each time a company announced a major layoff, its stock rallied. What she found from her perch at Bankers Trust — and later in interviews with people at firms such as Morgan Stanley, Merrill Lynch, Lehman Brothers, Goldman Sachs, JPMorgan, Salomon Brothers, Kidder Peabody and Lazard — was that it wasn’t just an ideological commitment to boosting shareholder value that drove decisions to merge, break up and restructure companies, but also the work culture of Wall Street itself. Ho, now a professor at the University of Minnesota, talked with Barbara Kiviat about her findings, presented in Liquidated: An Ethnography of Wall Street, and how she thinks the recent financial collapse has — or hasn’t — changed things.

What do you mean when you say the American worker has become liquid?
I mean that there’s constant job insecurity, constant downsizing, constant restructuring, a constant need to retrain to have an adaptable skill set and be flexible. In a sense, job security and stability have been liquidated.

And that comes from Wall Street?
What I found in my research was that in many ways investment bankers and how they approach work became a model for how work should be conducted. Wall Street shapes not just the stock market but also the very nature of employment and what kinds of workers are valued. These firms sit at the nexus — they are the financial advisers and sources of expertise to major U.S. corporations and institutional investors — and from this highly empowered middle-man role, what they say has a lot of influence. The model that came to be dominant in the 1980s was one of constant change. The idea is that there’s a lot of dead wood out there and people should be constantly moving, in lockstep with the market. If a company isn’t constantly restructuring and changing, then it’s stagnant and inefficient, a big lumbering brick.

And you think that attitude follows from the way Wall Street works?
What a lot…
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Zero Hedge

"There's No Way Out": Johnson Slams "Undemocratic" Irish Backstop In Letter To European Council

Courtesy of ZeroHedge View original post here.

UK Prime Minister Boris Johnson as barely been in office a month, and he's already convinced some Britons that he's ready to take the UK out of the EU, with or without an interim trade deal to soften the blow.

On the other side of the Atlantic, President Trump has pledged to cobble together a trade deal to help bolster Johnson's popularity should he need to call for an early general election to try and bolster his party's mandate (the Tories and their coalition control the Commons by one measly vote).  This past week, Johnson has generated headlin...



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Phil's Favorites

Aramco Asks Banks To Submit Proposals For Role In Mega IPO (Again)

Courtesy of Julianne Geiger, OilPrice.com

The Aramco IPO is one step closer to reality, with Saudi Arabia’s state-run oil company seeking proposals from banks who wish to fulfill various roles in the much-anticipated IPO, Reuters sources said on Monday.

The requests for proposals were sent a few days ago, the sources said. Saudi Aramco declined to comment on the development.

Aramco’s official request that banks submit proposals is a positive development for the IPO, although even with banks handwringing with anticipation, the mega IPO has an uphill battle ahead.

Aramco’s Senior VP of Finance, Khalid al-Dabbagh, said last week that it w...



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Lee's Free Thinking

Watch Out Bears! Fed POMO Is Back!

Courtesy of Lee Adler

That’s right. The Fed is doing POMO again.  POMO means Permanent Open Market Operations. It’s a fancy way of saying that the Fed is buying Treasuries, pumping money into the financial markets.

Over the past 6 days, the Fed has bought $8.6 billion in T-bills and coupons. These are the first regular Fed POMO Treasury operations since the Fed ended outright QE in 2014.

Who is the Fed buying those Treasuries from?

The Primary Dealers. Who are the Primary Dealers?  I’ll let the New York Fed tell you:

Primary dealers are trading counterparties of the New York Fed in its implementation of monetary policy. They are also expected to make markets for the New York Fed on behalf of its official accountholders as needed, and to bid on a ...



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Kimble Charting Solutions

Steel About To Breakdown And Send Bearish Economic Message?

Courtesy of Chris Kimble

Is the Steel Industry suggesting that a recession is nearing? In my humble opinion, the jury is still out on this one.

This chart from Marketsmith.com takes a look at the patterns of Steel ETF (SLX).

SLX has spent the majority of the past 3-years inside of trading range (1). The persistent decline over the past year has it testing the bottom of this trading range at (2).

The weakness over the past year has it below long-term moving averages as its relative strength r...



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The Technical Traders

Fed Too Late To Prevent A Housing Market Crash?

Courtesy of Technical Traders

Real Estate is one of the biggest purchases anyone will make in their lifetime.  It can account for 30x to 300x one’s annual income and take over 30 years to pay off.  After you’re done paying for your property, now you have to keep paying to maintain it and to support the property taxes to keep it.  What has happened to the US Real Estate market since the 2008-09 global credit market collapse and is the US Fed behind the curve?

Case-Shiller Home Price Index

One of the most common indicators used to measure national housing affordability and price trend is the Case-Shiller Home Price Index.  In this chart, we are displaying the Case-Shiller National Home ...



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Insider Scoop

Economic Data Scheduled For Tuesday

Courtesy of Benzinga

  • The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET.
  • San Francisco Federal Reserve Bank President Mary Daly is set to speak at 4:30 p.m. ET.
  • Federal Reserve Board of Governors Vice Chairman for Supervision Randal Quarles will speak in Salt Lake City, Utah at 6:00 p.m. ET.

Posted-In: Economic DataNews Economics ...



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Chart School

Bitcoin 2019 fractal with Gold 2013

Courtesy of Read the Ticker

Funny how price action patterns repeat, double tops, head and shoulders. These are simply market fractals of supply and demand.

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Ref: US Crypto Holders Only Have a Few Days to Reply to the IRS 6173 Letter

Today's news from the US IRS has been blamed for the recent price slump, yet the bitcoin fractal like the gold fractal suggest the market players have set bitcoin up for a slump to $9000 USD long before the IRS news hit the wire.

Get the impression some market players missed out on the b...

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Digital Currencies

New Zealand Becomes 1st Country To Legalize Payment Of Salaries In Crypto

Courtesy of ZeroHedge View original post here.

Bitcoin and other cryptocurrencies have been on a persistent upswing this year, but they're still pretty volatile. But during a time when even some of the most developed economies in the word are watching their currencies bounce around like the Argentine peso (just take a look at a six-month chart for GBPUSD), New Zealand has decided to take the plunge and become the first country to legalize payment in bitcoin, the FT reports.

The ruling by New Zealand’s tax authority allows salaries and wages to b...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Biotech

DNA testing companies offer telomere testing - but what does it tell you about aging and disease risk?

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

 

DNA testing companies offer telomere testing – but what does it tell you about aging and disease risk?

A telomere age test kit from Telomere Diagnostics Inc. and saliva. collection kit from 23andMe. Anna Hoychuk/Shutterstock.com

Courtesy of Patricia Opresko, University of Pittsburgh and Elise Fouquerel, ...



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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...



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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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