Posts Tagged ‘violence’

Fears of Regime Change in New York

Fears of Regime Change in New York

Courtesy of Yves Smith of Naked Capitalism

Time Square New York

Normally, I don’t report on anecdotes from my immediate circle, but a set of conversations in less than a 24 hour period suggests that even those comparatively unaffected by the crisis are bracing themselves for the possibility of sudden, large-scale, adverse changes. And that sort of gnawing worry seems to be growing in New York despite being buoyed by TARP funds and covert bank subsidies.

When out on my rounds the day before yesterday, I ran into an old McKinsey colleague, who had subsequently had impressively titled jobs in Big Firms You Heard Of before semi-retiring to manage family money. He and his very accomplished wife were big Bush donors and had been invited to both inaugurations.

He made short order of niceties and got to the point: “We need more fiscal stimulus. Obama did too little and too much of what he spent on was liberal pork. We could and need to spend a lot on infrastructure. This is looking a lot like 1936. I’m afraid it could get really ugly. And I’m particularly worried that the Republicans will win big this fall. They’ll cut even deeper, that’s the last thing we need right now.”

No I am not making this up, and yes, this is one of the last people I would have expected to express this line of thinking.

Next day, I had lunch with a two long standing, keen observers and participants in the New York scene, as in very involved in some of the city’s important institutions. Both have witnessed the shift in values over the last thirty years and the rising stratification, particularly at the top end (New York has always been plutocratic, but it formerly had a large upper middle class and a much smaller and much less isolated upper crust).

They started by commenting on my Bill Gross post, which had mentioned the appalling Steve Schwarzman contention that taxing private equity overlords more on their carried interest was like HItler invading Poland. Schwarzman is not only not retreating from his remark, he is convinced that the reason the economy is so lousy is that rich men like him are not getting their way (this is if anything an understatement of their account. Both men expect his head to be the first…
continue reading


Tags: , , , , , , ,




This Is How It Begins (Wanton Violence)

This Is How It Begins (Wanton Violence)

Courtesy of Karl Denninger at The Market Ticker

austin tx plane crash, courtesy of tbi, apThis is not the sort of thing you want to report on.

But I need to, because what looked like an accident originally – a horrible accident, with a plane on approach that had some sort of mechanical problem - now looks to be something else.

AUSTIN, TX (myFOXaustin) – A small aircraft plane has crashed into a 7-story office building in North Austin near Mopac and 183. The plane crashed into the Echelon building around 10 a.m. Thursday morning. Police have blocked off access roads around the building.

….

According to Corp. Scott Perry with APD several federal offices were located inside the building that was struck by the plane.  Officials with NTSB say that IRS offices were some of the federal offices.

CNBS is reporting that there is "no indication that this was an act of terrorism or otherwise intentional."  Oh really?  Then how come CNBC is claiming on-air that the man involved set fire to his own house first?  Oh, and Fox News just stated that the name of the pilot was…. Mr. Joe Stack.

Uh…. what’s this?

I know I’m hardly the first one to decide I have had all I can stand.  It has always been a myth that people have stopped dying for their freedom in this country, and it isn’t limited to the blacks, and poor immigrants.  I know there have been countless before me and there are sure to be as many after.  But I also know that by not adding my body to the count, I insure nothing will change.  I choose to not keep looking over my shoulder at “big brother” while he strips my carcass, I choose not to ignore what is going on all around me, I choose not to pretend that business as usual won’t continue; I have just had enough.

I can only hope that the numbers quickly get too big to be white washed and ignored that the American zombies wake up and revolt; it will take nothing less.  I would only hope that by striking a nerve that stimulates the inevitable double standard, knee-jerk government reaction that results in more stupid draconian restrictions people wake up and begin to see the pompous political thugs and their mindless minions for what they are.  Sadly, though


continue reading


Tags: , , , , , ,




Fed judges order California to slash prison population

Intro, courtesy of Timothy D. Naegele:

"As the economic tsunami continues to take its toll globally, and as California suffers because of declining tax revenues and budgetary imbalances — which may spawn more crime, not less — the judges want to mandate that criminals are released.  Wow!"

Fed judges order California to slash prison population

By Mike Zapler in the Mercury News

SACRAMENTO — In a decision that could dramatically reshape California’s criminal justice system, a panel of federal judges on Tuesday ordered Gov. Arnold Schwarzenegger and state legislators to find ways to cut the prison population by 40,000, or about one-quarter of all inmates.

The ruling was a stark milestone in the years-long saga of two lawsuits charging that California allows inhumane conditions to fester in its prisons because of severe overcrowding. Law-and-order advocates say such cuts would result in inmates being returned to the streets early or being turned over to cash-strapped counties to jail. The Schwarzenegger administration signaled that it would likely appeal the case to the U.S. Supreme Court.

The three-judge panel gave the governor and lawmakers 45 days to present a plan to cut the inmate population from about 150,000 to 110,000 over two years. The judges delivered a stern message about conditions that are so poor in some prisons that they violate inmates’ constitutional rights.

"The medical and mental health care available to inmates in the California prison system is woefully and constitutionally inadequate, and has been for more than a decade," the judges wrote in a 184-page ruling. "Tragically, California’s inmates have long been denied even (a) minimal level of medical and mental health care, with consequences that have been serious, and often fatal. … A significant number of inmates have died as a result."

The judges described some prisons operating at nearly 300 percent of capacity, with inmates housed in triple bunk beds placed in gymnasiums and day rooms.

"In these overcrowded conditions, inmate-on-inmate violence is almost impossible to prevent, infectious diseases spread more easily, and lockdowns are sometimes the only means by which to maintain control," the judges wrote…

Continue here >>
 

 


Tags: , , , ,




156 Killed in China as Violence Erupts Over Ethnic Grievances and Jobs

Sign up for a free subscription to Phil’s Stock World Report, click here

156 Killed in China as Violence Erupts Over Ethnic Grievances and Jobs

ChinaCourtesy of Mish

One reason China stepped on the fiscal stimulus pedal was to help quiet millions of displaced migrant workers now out of a job. China’s concern over migrant workers was well founded as Violence Kills 156 in China, Hundreds More Detained.

China’s government said more than 700 people were detained after ethnic rioting in the capital of Xinjiang province killed 156 people. Overseas Uighur groups were responsible for the violence, the government said.

A curfew and traffic blockade remained in effect in Urumqi, capital of China’s westernmost province, until 8 a.m., a government press officer, Yang Guoqiang, said in an interview. Three armed guards checked every visitor and bag with metal detectors at the Sheraton Urumqi hotel.

China Central Television yesterday aired images of smoke billowing from vehicles, crowds overturning police cars and bloodied people slumped on sidewalks in Urumqi. More than 825 people were also injured after rioting broke out in the city late on July 5, and the toll is likely to rise, Xinhua cited Liu Yaohua, the region’s police chief, as saying.

As many as 30 million migrant workers have lost their jobs during the global financial crisis, as demand from the U.S. and Europe vanishes, exacerbating already simmering social tensions.

“It’s like Mao Zedong used to say, a spark can spread the fire into the prairie, and that’s the situation in Xinjiang,” said Jean-Philippe Beja, a senior researcher at the French Centre for Studies on Contemporary China in Hong Kong.

Fifty-seven bodies were retrieved from the streets, while the remainder were confirmed dead at hospitals, said Liu, the police chief. Rioters burned 261 vehicles and destroyed 203 shops, authorities said.

Nur Bekri, chairman of the Xinjiang regional government, said in a televised speech yesterday that the riot was triggered by the death of two Uighur workers in a factory brawl in Guangdong province in June, Xinhua reported. That incident also had ethnic overtones, with the Uighur workers fighting ethnic-Han workers, according to the news agency.

Mobs Take to Streets

Another day of violence is underway and China Tries to Calm Urumqi as Mobs Take to Streets.

Hundreds of Chinese from rival ethnic groups fought each


continue reading


Tags: , ,




 
 
 

Zero Hedge

"Mega Find" - 5,000 Classic Motorcycles Stashed In Barns 

Courtesy of ZeroHedge View original post here.

The Federal Reserve's quantitative easing and Treasury's fiscal stimulus have resulted in the greatest monetary experiment of all time. The result of trillions of dollars pumped into the economy has lifted prices of all assets, everything from the stock market to homes to baseball cards to crypto to classic cars and motorcycles. 

Last week, readers were one of the first to know about a rare 1955 Porsche 550 Spyder found in an ol...



more from Tyler

Phil's Favorites

Pandemic recovery will take more than soaring growth - to fuel a more equitable economy, countries need to measure the well-being of people, too

 

Pandemic recovery will take more than soaring growth – to fuel a more equitable economy, countries need to measure the well-being of people, too

Researchers have long been searching for a more comprehensive way to assess national progress than GDP. erhui1979 via Getty Images

Courtesy of Bas van Bavel, Utrecht University and Auke Rijpma, Utrecht University

...

more from Ilene

Digital Currencies

"You'd Have To Shut Down The Internet" To Ban Bitcoin, Says SEC's Hester Peirce

Courtesy of ZeroHedge

Any government efforts to ban Bitcoin would be “foolish,” said Hester Peirce (aka “Crypto Mom”), a very Bitcoin-friendly commissioner at the U.S. Securities and Exchange Commission (SEC), during a MarketWatch virtual conference earlier this week, according to Cryptoslate reporter Liam Frost.

"I think we were past that point very early on because you’d have to shut down the Internet,” Peirce said, adding, “I don’t see how you could ban it. Y...



more from Bitcoin

Chart School

Gold Gann Angle Update

Courtesy of Read the Ticker

The Biden Yellen team have made their play, and it is not US dollar friendly.

Janet Yellen speech named "International Priorities — Remarks to The Chicago Council on Global Affairs" (here) can be summed to (via Luke Gromen) :


The US is accelerating a move away from "subjugating the US middle and working class to support the USD", to "subjugating the USD to support the US middle and working classes".



Well the above is true, but as we all know large US deficits and the trend of the US dollar are joined at the hip, and that trend is down '...

more from Chart School

ValueWalk

2021 Sohn Investment Conference Featuring Einhorn, O'Shaughnessy And More

By Jacob Wolinsky. Originally published at ValueWalk.

The 2021 Sohn Investment Conference will be held virtually on May 12, 2021 and Valuewalk will be covering the event. Stay tuned for our in-depth coverage!

Q4 2020 hedge fund letters, conferences and more

Check out our coverage of the 2020 Sohn Hong Kong Conferences here.

All proceeds from The 2021 Sohn Investment Conference will be directed to Rockefeller University, which will provide unrestricted funding for scientists working on some of the highest-risk, highest-reward projects primed to advance the treatment of pediatric...



more from ValueWalk

Biotech/COVID-19

How worried should you be about coronavirus variants? A virologist explains his concerns

 

How worried should you be about coronavirus variants? A virologist explains his concerns

A COVID-19 patient in an ICU unit in a hospital in Capetown, South Africa, in December 2020. A variant emerged in South Africa that has since spread to other parts of the world. Other new variants could emerge elsewhere. Rodger Bosch/AFP via Getty Images

Courtesy of Paulo Verardi, University of Connecticut

Spring has sprung, and there is a sense of relief in the air. After one year of lockdowns and social distancing, mor...



more from Biotech/COVID-19

Politics

For autocrats like Vladimir Putin, ruthless repression is often a winning way to stay in power

 

For autocrats like Vladimir Putin, ruthless repression is often a winning way to stay in power

Russian police officers beat people protesting the jailing of opposition leader Alexei Navalny, Jan. 23, 2021 in Moscow. Mikhail Svetlov/Getty Images)

Courtesy of Shelley Inglis, University of Dayton

Russian dissident Alexei Navalny, sick with a cough and ...



more from Politics

Kimble Charting Solutions

Gold; Load Up The Truck Upon Hitting This Level

Courtesy of Chris Kimble

Gold has created lower highs since peaking last summer. Is Gold near a low? Where would a nice entry point come into play?

This chart looks at Gold ETF (GLD) on a weekly basis over the past few years. GLD hit the top of this rising channel at (1) last summer, as it was above moving averages and relative strength was hitting lofty levels.

The decline over the past 7-months has GLD creating a death cross. Warren Buffett sold his Gold holding before this death cross took place!

Where would one want to pick up some GLD at a nice risk/reward price point?

If GLD reaches rising channel support at (2), w...



more from Kimble C.S.

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...



more from M.T.M.

Promotions

Phil's Stock World's Weekly Webinar - March 10, 2021

Don't miss our latest weekly webinar! 

Join us at PSW for LIVE Webinars every Wednesday afternoon at 1:00 PM EST.

Phil's Stock World's Weekly Webinar – March 10, 2021

 

Major Topics:

00:00:01 - EIA Petroleum Status Report
00:04:42 - Crude Oil WTI
00:12:52 - COVID-19 Update
00:22:08 - Bonds and Borrowed Funds | S&P 500
00:45:28 - COVID-19 Vaccination
00:48:32 - Trading Techniques
00:50:34 - PBR
00:50:43 - LYG
00:50:48 - More Trading Techniques
00:52:59 - Chinese Hacks Microsoft's E...



more from Promotions

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...



more from Tech. Traders

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...



more from Lee

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





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. Contact Ilene to learn about our affiliate and content sharing programs.