Posts Tagged ‘plastic’

GTFO of the Week: China Making Plastic Rice

Courtesy of Joshua M Brown, The Reformed Broker 

fake riceHere’s your GTFO article of the week…

Fake Plastic Rice from China

According to the Korean-language “Weekly Hong Kong” (which many Vietnam websites are referencing as well), Singapore media claim that fake rice is being distributed in the Chinese town of Taiyuan, in Shaanxi province. This “rice” is a mix of potatoes, sweet potatoes, and plastic. It is formed by mixing the potatoes and sweet potatoes into the shape of rice grains, then adding industrial synthetic resins. Since the rice does not behave like normal rice, it stays hard even after it has been cooked. Such synthetic resins can also be very harmful if consumed.

A Chinese Restaurant Association official said that eating three bowls of this fake rice would be like eating one plastic bag. Due to the seriousness of the matter, he added that there would be an investigation of factories alleged to be producing the rice. Meanwhile, the low cost of the fake rice is allowing wholesalers to make large profits.

Can this possibly be true?  Well, they put lead in childrens’ toys so what can we put past them after that?

Source:

China Makes Fake Rice From Plastic, Vietnam Reacts (Very Vietnam)

 

 


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Oil, Oil Everywhere

Oil, Oil Everywhere

Courtesy of Karl Denninger at The Market Ticker 

Boat passes through heavily oiled marsh near Pass a Loutre, Louisiana

We’re now about a month into the BP Oil "blowout" incident in the Gulf.

We still don’t know exactly what caused the blowout, but that’s not the important factor from my point of view. 

We know that a gas "bolus" got into the drill pipe and expanded as it rose, and that was the proximate cause of the blast and sinking of the Deepwater Horizon.

What we don’t know is why the blowout preventer failed to close.

There have been several theories and claims, among them:

  • The Blowout Preventer’s hydraulic system has one or more leaks in it, and as such it couldn’t close.  If this is true then the question becomes who knew of the leak, if anyone, as it would have caused the preventer to fail routine tests.
     
  • There are also claims that the well failed a negative pressure test a few hours before the incident.  That would imply that there was a problem with the casing integrity (or the cement job done to lock it in place) and work continued without addressing this first.

Let me provide some context here: I live in the Florida Panhandle and in a "worst case scenario" the value of my home is likely to be destroyed.  On April 30th I wrote a piece called "Drill Baby Drill", and I stand behind it today, even with the increased knowledge we now have.

Gulf Coast Struggles With Oil Spill And Its Economic Costs

I want answers to the above two questions, and I want the firms and persons responsible for those two breaches of protocol and common sense (along with safety measures) tarred, feathered and bankrupted, in that order, with every penny they personally and corporately possess confiscated to perform whatever remediation we can.

What I do know is this: A deepwater rig like the Horizon costs about $500,000 per day to have on site and operate.  There was obviously a decision taken by someone that halting operations to pull and repair or replace the blowout preventer stack would cost millions (such an operation would result in significant downtime, of course, during which the rig would be sitting idle) and thus it was not done.

But this does not change my base view, which is that we have no valid alternative to drilling in the Gulf and elsewhere – indeed, everywhere we can find oil and gas.

What…
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Can Crocs Be More Than a One-Hit Wonder?

Never had a pair of these colorful plastic potato-shaped shoes, so add one more to the un-crocced planet walkers. – Ilene  

Can Crocs Be More Than a One-Hit Wonder?

By Tara Kelly, courtesy of TIME

crocsThere was a time a few years ago when it seemed that the only people on the planet not wearing a pair of Crocs — those quirky, brightly colored rubber clogs — were hard-core fashionistas and Somali nomads. Actually, even Somali nomads were probably wearing them. President George W. Bush had at least one pair. So did Rosie O’Donnell and George Clooney. As well as, oh, about 2 billion children. Sales at the Colorado-based company climbed from a meager $24,000 in 2002 to more than $847 million in 2007. When Crocs went public in February 2006, it raised $208 million — the largest shoe-firm IPO in market history.

Then fortunes turned. Demand for Crocs, which are named after a crocodile because they can be worn on both land and in the water, began to cool in early 2008. Throw in the global downturn and sales tumbled 15% to $721.5 million in 2008, leading to a loss of $185 million, following a profit of $168 million a year earlier. Its share price plummeted from a high of $74 in November 2007 to a low of just $1.05 last November. It was, says John Duerden, Crocs’ chief executive, "the perfect storm."

Crocs’ journey from hot to not is a familiar tale. Reinventing yourself from a one-hit wonder into a profitable, long-term company has to be one of the biggest challenges in business. Plenty fail. Remember Beanie Babies? LA Lights? Slap-on bracelets? Duerden, 68, who joined Crocs in March from the London-based brand consultancy Chrysalis Group, says he can help Crocs avoid disappearing altogether and turn the company into "a financially stable company and brand."

The crucial first step is to lower costs, inventory and manufacturing infrastructure to levels more in line with demand. Overzealous production had left the company with millions of dollars’ worth of unwanted stock by mid-2008. Some of the work was already under way: Crocs has shed 32% of jobs since 2007, shuttering factories, paring its distribution network and cutting its inventory in half over the past couple of years. That’s helped nudge Crocs’ stock close to $7, but for it "to move higher, [the company] ultimately needs to become…
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Phil's Favorites

Antibodies in the blood of COVID-19 survivors know how to beat coronavirus - and researchers are already testing new treatments that harness them

 

Antibodies in the blood of COVID-19 survivors know how to beat coronavirus – and researchers are already testing new treatments that harness them

A person who has recovered from COVID-19 donates plasma in Shandong, China. STR/AFP via Getty Images

Ann Sheehy, College of the Holy Cross

Amid the chaos of an epidemic, those who survive a disease like COVID-19 carry within their bodies the secrets of an effective immune response. Virologists like me...



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Biotech/COVID-19

Antibodies in the blood of COVID-19 survivors know how to beat coronavirus - and researchers are already testing new treatments that harness them

 

Antibodies in the blood of COVID-19 survivors know how to beat coronavirus – and researchers are already testing new treatments that harness them

A person who has recovered from COVID-19 donates plasma in Shandong, China. STR/AFP via Getty Images

Ann Sheehy, College of the Holy Cross

Amid the chaos of an epidemic, those who survive a disease like COVID-19 carry within their bodies the secrets of an effective immune response. Virologists like me...



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Zero Hedge

Watch: Riots Erupt In Israel As Police Enforce COVID-19 Quarantine, Synagogues Shuttered

Courtesy of ZeroHedge View original post here.

Israeli media is reporting that riots have broken out in Arab as well as some Jewish neighborhoods of Israel over quarantine enforcement. Particularly violent clashes in Jaffa also erupted after police confronted and tried to detain a man for reportedly breaking quarantine.

"Dozens of people are demonstrating and rioting in Jaffa after police questioning of a man who apparently broke his mandatory self-quarantine led numerous residents to gather and confront the officers," the ...



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ValueWalk

Number of new jobless claims hits another record high

By Gorilla Trades. Originally published at ValueWalk.

In an intra Day note to investors, Gorilla Trades strategist Ken Berman, while commenting on the weekly number of new jobless claims, said:

Q4 2019 hedge fund letters, conferences and more

The major indices are all in the green at midday despite another highly volatile pre-market session. The energy sector has been the clear winner of the morning session, but most of the key sectors are sporting gains despite the grim COVID-19 numbers. The price of crude oil surged higher overnight together with global equities, despite yesterday’s huge U.S. ...



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Kimble Charting Solutions

S&P 500 Price Pattern Similar to 2008 Market Crash?

Courtesy of Chris Kimble

Last week’s sharp rally off the lows, gave bulls some relief.

But if the bulls are going to have reason to cheer, they will need to see another move higher… and fast!

Why? Just look at today’s “weekly” price chart of the S&P 500 Index. 

This key broad-based index broke a 10-year bull market trend line in March. And it’s now kissing the underside of the trend line at (2).

The last stock market crash saw a similar pattern in 2008. And after a failed “...



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Insider Scoop

Nestle CEO Says Snack Foods 'Just As Important As Essential Nutrients'

Courtesy of Benzinga

Global food behemoth Nestle (OTC: NSRGY) is "scrambling to meet demand" to keep the world fed, but doesn't want to take much credit, as "this is our main purpose at this hour," CEO Mark Schneider said Wednesday during a "Mad Money" interview with Jim Cramer.

Nestle...

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The Technical Traders

Are Equities Likely To Rally?

Courtesy of Technical Traders


 

I hope you found this informative, and if you would like to get a pre-market video every day before the opening bell, along with my trade alerts visit my Active ETF Trading Newsletter

Chris Vermeulen

...

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Chart School

Big moving Averages and macro investment decisions

Courtesy of Read the Ticker

When price is falling every one wonders where demand will come in.


RTT black screen Tv videos study the simplest measure of price (simple moving average). What has happen before guides us now. 














Changes in the world is the source of all market moves, to catch and ride the change we believe a combination of Gann Angles, ...

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Members' Corner

10 ways to spot online misinformation

 

10 ways to spot online misinformation

When you share information online, do it responsibly. Sitthiphong/Getty Images

Courtesy of H. Colleen Sinclair, Mississippi State University

Propagandists are already working to sow disinformation and social discord in the run-up to the November elections.

Many of their efforts have focused on social media, where people’s limited attention spans push them to ...



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Digital Currencies

While coronavirus rages, bitcoin has made a leap towards the mainstream

 

While coronavirus rages, bitcoin has made a leap towards the mainstream

Get used to it. Anastasiia Bakai

Courtesy of Iwa Salami, University of East London

Anyone holding bitcoin would have watched the market with alarm in recent weeks. The virtual currency, whose price other cryptocurrencies like ethereum and litecoin largely follow, plummeted from more than US$10,000 (£8,206) in mid-February to briefly below US$4,000 on March 13. Despite recovering to the mid-US$6,000s at the time of writin...



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Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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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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