Friday, August 28, 2015
Monday, August 24, 2015
Thursday, August 20, 2015
Tumbling Oil Prices have hit six-year lows, and Cumberland Advisors' David Kotok predicts that could plunge even lower.
"We could go back to $15 or $20, this is a downward slope, we don't know a bottom," the influential money manager told Bloomberg TV. A year ago, oil was about $100.
U.S. oil prices hit their lowest in almost six and a half years on Wednesday after U.S. data showed an unexpected rise in crude stockpiles.
U.S. crude oil futures, also known as West Texas Intermediate (WTI), were down $1.20 at $41.42 a barrel by 1450 GMT, after touching a low of $41.18. The front-month, September, U.S. crude oil contract is due to expire on Thursday. North Sea Brent crude was down 90 cents at $47.91 a barrel.
Oil has tumbled more than 30 percent since this year’s peak close in June amid signs that producers are maintaining output even after a surplus pushed prices into a bear market.
A further decline to $15 a barrel would be huge. Oil hasn't traded that low since early 1999, when gasoline at the pump was selling for under $1 a gallon, CNNMoney reported.
The Organization of Petroleum Exporting Countries has pumped above its 30 million-barrel-a-day quota for more than a year, according to data compiled by Bloomberg. Angola plans to ship 1.83 million barrels a day in October, the most since November 2011, according to a preliminary loading program obtained by Bloomberg. That compares with 1.77 million barrels a day from Africa’s second-largest crude producer in September.
Meanwhile, Iraq must increase oil output to meet the needs of its growing population and provide services, Prime Minister Haidar Al-Abadi said on his website. The nation’s production climbed to a record 4.18 million barrels a day in July, according to the International Energy Agency.
Oil has tumbled more than 30 percent since this year’s peak close in June amid signs that producers are maintaining output even after a surplus pushed prices into a bear market.
Wednesday, July 1, 2015
Bloomberg View’s Eli Lake and Josh Rogin recently reported that U.S. troops are sharing a base with Iran-backed Shiite militias in Iraq, where Tehran’s notorious proxies are spying on U.S. operations and personnel at their leisure to prepare the ground for future crimes. This worrying revelation is the latest manifestation of a misconception about the Iranian regime’s nature and its intentions in Iraq -- an error that can prove to be fatal if not corrected.
In his interviews with different media outlets, U.S. President Barack Obama has made assertions about the Iranian regime being able to become a successful regional power and help stabilize the Middle East. Also, in his secret missives to the Iranian regime’s Supreme Leader, Ayatollah Ali Khamenei, Obama has promised that in the event of a final accord on Iran’s contested nuclear program, the U.S. is willing to cooperate with Iran in the fight against the Islamic State, an extremist group that is rampaging through the Middle East and has cut itself a caliphate out of territory straddling Iraq and Syria.
The assumption that Tehran can help in the fight to counter the advances of the IS stems from the shortsighted thinking that as a Shiite extremist powerhouse, the Iranian regime is the archenemy of the Sunni extremist Islamic State.
But a quick review of Iran’s actions in recent years proves that Tehran’s foreign policy in the region is not based on ideological tenets, but rather on setting up short-term -- and sometimes contradictory -- alliances to further its ultimate end: keeping the Middle East in a state of instability in order to remain the main power broker and hegemon of the region.
Saturday, June 20, 2015
Tuesday, December 3, 2013
Sunday, December 1, 2013
And that's with added to Friday's blowout.
How "black" retailers books are going to look is the real question. Prior to , most big box retailers were bemoaning the fact that in order to get people in the stores, they used deeply discounted items. Typically, shoppers cherry pick items and ignore the rest, reducing margins.
Via: American ThinkerRetailers offered more and steeper deals on from flat-screen televisions to crockpots that, while luring shoppers, may ultimately hurt fourth-quarter earnings. Many consumers showed up prepared to zero in on their favored items while shunning the impulse buys that help retailers' profits."You could get the same deals online as you could get in the store, and yet there were still a ton of people out there," Charles O'Shea, a senior analyst at Moody's Investors Service in New York, said in an interview. Going out to stores, "is part of the experience," he said.About 97 million people planned to shop online or in stores on Friday, with about 140 million intending to do so Thanksgiving through Sunday, the National Retail Federation said. That's down from 147 million last year.
Tuesday, November 12, 2013
In some of Senator Rand Paul’s (R-KY) first non-plagiarism news in a while, the Kentucky senator warned on Monday that the Federal Drug Administration’s new ban on trans fats was another intrusion by the nanny state, this one aimed at your morning indulgences.
“They’re coming after your doughnuts!” Paul told a crowd at The Charleston Meeting in South Carolina, in addition to taking a shot at New York City Mayor Michael Bloomberg’s attempted soda ban.
“Some unelected bureaucrat has banned trans fat,” he continued. “So I say, we need to line every one of them up. I want to see how skinny or how fat the FDA agents are that are making the rules on this. Not only that, any of them with a BMI over 16, or whatever the number you’re supposed to have, I want to see them on the treadmill, and I want to see someone from OSHA lashing them while they’re working on the treadmill.”
“If we’re going to have a nanny state, and everybody’s gotta eat the right thing, and you can’t eat a doughnut, maybe we ought to enforce it on the government workers first,” Paul said.
New York Magazine columnist Jonathan Chait was quick to rebut Paul’s charges:
Via: Mediaite.comThey are not, in fact, coming after your doughnuts. Trans fats are not essential to make doughnuts or, really, anything. Some restaurants still use trans fats because, even though they’re incredibly bad for you, they’re longer-lasting and slightly cheaper than other oils, and very few customers would ever know the difference.
Saturday, November 9, 2013
Some 95 key members of the group that targets and criticizes lawmakers backed by the National Rifle Association are losing their title of “mayor.” According to an election review of Bloomberg'smembership list of about 1,000, three quit the group, 69 retired from their jobs, and 23 were rejected by voters.
On the retirement list: Bloomberg and Menino.
Among the defeated members of Mayors Against Illegal Guns were the mayors of Annapolis, Md.; Omaha, Neb.; Atlantic City, N.J.; Rochester, N.Y.; and Seattle, Wash.
Guns and Bloomberg's group were issues in some of the campaigns where the incumbents were defeated. In Chambersburg, Pa., newly-elected Republican Mayor-elect Darren Brown declared that among his first moves will be unhooking the town from the anti-gun group.
"The very, very first thing I'd like to do is get Chambersburg off the Mayors Against Illegal Guns list," Brown said.
What's more, while Bloomberg's Independence USA PAC can claim a victory in its campaign and advertising against Virginia gubernatorial candidate Ken Cuccinelli, a review of all NRA-endorsed candidates in the state show that the mayor had virtually no impact.
For example, of the 67 NRA-endorsed candidates for the Virginia House of Delegates, 65 won their election on Tuesday.
What’s more, after the 2011 legislative elections in Virginia, there were 63 states delegates rated an "A" by the NRA and that number grew to 65 on Tuesday.
Friday, November 1, 2013
Unfortunately, except the 80% largely unaffected, these numbers are garbage.
According to Lizza, Gruber marks 14% of the population as clear winners because they are uninsured now but gain access to affordable coverage. That would be about 45 million people as of 2016, when the Affordable Care Act is in full swing.
But according to the Congressional Budget Office,the law will only increase insurance coverage by about 26 million people through 2016, or 8% of the population. That's the group that can be called "clear winners"; 14% is too aggressive an estimate.
Another 30 million people in the U.S. (9%) will still be uninsured in 2016.
Tuesday, October 8, 2013
Friday, August 23, 2013
Tuesday, October 16, 2012
“This action is expected to allow the company to provide for an orderly sale,” A123 said in a press release. Johnson Controls plans to acquire A123’s automotive-business assets in a deal valued at $125 million and will provide financing of $72.5 million to support A123’s operations, according to the release. A deal to sell a majority stake to a Chinese company fell through, A123 said.
The Energy Debate Continues at www.bloomberg.com/sustainabilityThe company listed assets of $459.8 million and debt of $376 million as of Aug. 31 in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware.
The Waltham, Massachusetts-based company said yesterday it expected to fail to make an interest payment due yesterday on $143.8 million of notes expiring in 2016.
Largest ShareholdersA123’s largest shareholder is Heights Capital Management Inc. of San Francisco, with 12.5 million shares, or a 7.3 percent stake, according to data compiled by Bloomberg. IHI Corp., based in Tokyo, has 8.45 million shares, or about 5 percent, and General Electric Co., based in Fairfield, Connecticut, holds 7.37 million shares, or about 4.3 percent.
The 30 largest consolidated creditors without collateral backing their claims are owed a total of more than $161 million, according to court papers. U.S. Bank NA, as trustee, is listed as the largest unsecured creditor with a claim of $142.8 million, according to court papers. Hudson Bay Capital Management LP has a claim of $2.8 million, Jabil Circuit Inc. has a claim of $1.7 million and Hydro Quebec has a claim of $1.5 million.
Saturday, October 6, 2012
OBAMA HAS PRESIDED OVER A RECORD PERIOD OF ECONOMIC STAGNATION
Since Obama Took Office, The Nation Has Lost 61,000 Jobs And The Unemployment Rate Has Remained At Or Above 7.8 Percent (What The Rate Was When Obama Took Office) For 45 Straight Months. (Bureau Of Labor Statistics, Accessed 10/5/12)
- Jim Pethokoukis: "10.7%: Unemployment Rate If Labor Force Participation Rate Was The Same As When Obama Took Office" (Jim Pethokoukis, Twitter Feed, 10/5/12)
- By This Point Obama's Advisers Predicted The Unemployment Rate Would Be Near 5.4 Percent. (Christina Romer and Jared Bernstein, "The Job Impact Of The American Recovery And Reinvestment Plan," 1/9/09)
- Under Obama, The Nation Has Lost 1,035,000 Construction Jobs And 610,000 Manufacturing Jobs. (Bureau Of Labor Statistics, Accessed 10/5/12)
- The Manufacturing Sector Shed 16,000 Jobs In September And 22,000 Jobs In August. (Bureau Of Labor Statistics, Accessed 10/5/12)
Former Obama Council Of Economic Advisers Chairman Austan Goolsbee Said The Jobs Numbers "Need To Be A Lot Better." FORMER OBAMA COUNCIL OF ECONOMIC ADVISERS CHAIRMAN AUSTAN GOOLSBEE: "You want to take multiple months to take an average, that's far more accurate than any one month. If you look at the last few months, it's been okay. We should take some heart in that the numbers are improving but they're not improving fast enough. They need to be a lot better. I mean if you look around the world, I think one of the things to note is, we're not growing that fast, and we're one of the fastest growing of all the advanced countries. This is a pretty tough spot that the entire advanced economic world is in, especially in Europe, and so that's just a big weight that we're trying to get off. We're making slow progress but it's got to be faster." (CNBC's "Squawk Box," 10/5/12)
- "The Economy Is Growing At The Same Sluggish Pace It Has Been Since The Spring." "Those figures are roughly in line with economists' forecasts, and although the revisions were positive, the economy is growing at the same sluggish pace it has been since the spring." (Annalyn Censky, "September Jobs Report: Unemployment Rate Tumbles," CNNMoney, 10/5/12)
- "The Country Generally Needs At Least 150,000 New Jobs Each Month Just To Keep Up With Population Growth." (Annalyn Censky, "September Jobs Report: Unemployment Rate Tumbles," CNNMoney, 10/5/12)
- "That's Hardly Fast Enough To Recover All The Jobs Lost Since 2007." "That's hardly fast enough to recover all the jobs lost since 2007. Of the 8.8 million jobs cut during the recession, about 4.3 million have been added back. The Labor Department signaled last week that it may revise the job gains higher, but even so, the job market still has a long way to go before it's fully healed." (Annalyn Censky, "September Jobs Report: Unemployment Rate Tumbles," CNNMoney, 10/5/12)
CNBC's Brian Sullivan: "It's Not Good News For The Economy." CNBC'S BRIAN SULLIVAN: "It's not good news for the economy because as we've talked about you really need 125,000 jobs created a month to keep up with population and immigration growth." (MSNBC's "Morning Joe," 10/5/12)
- Sullivan: "The Labor Force Participation Rate At 65.6% Rate Is Awful." MSNBC'S JOE SCARBOROUGH: "Again just to push back with you though, Brian, the only reason that number went down below 8 is because, not because we're adding jobs to bring the unemployment rate down but because people have stopped looking for work, right? CNBC'S BRIAN SULLIVAN: "I agree with that, the labor force participation rate at 65.6% rate is awful." (MSNBC's "Morning Joe," 10/5/12)
The Average Duration Of Unemployment Has More Than Doubled From 19.8 Weeks To 39.8 Weeks. (Bureau Of Labor Statistics, Accessed 10/5/12)
- There Are Currently 802,000 Unemployed Workers That Have Given Up Looking For Work. (Bureau Of Labor Statistics, Accessed 10/5/12)
The Real Unemployment Rate, Including Those That Are Working Part-Time Due To Economic Reasons, Is At 14.7 Percent. (Bureau Of Labor Statistics, Accessed 10/5/12)
There Are Currently 23.2 Million Americans That Are Either Unemployed, Underemployed Or Have Given Up Looking For Work. (Bureau Of Labor Statistics, Accessed 10/5/12)
- There Are Currently 12.1 Million Unemployed Workers. (Bureau Of Labor Statistics, Accessed 10/5/12)
- The Number Of Workers Working Part-Time For Economic Reasons Is 8.6 Million. (Bureau Of Labor Statistics, Accessed 10/5/12)
- There Number Of Workers Marginally Attached To The Labor Force Is 2.5 Million. (Bureau Of Labor Statistics, Accessed 10/5/12)
Sunday, September 23, 2012
Suicide is a bigger killer than car crashes, according to an alarming new study.
The number of people dying from suicide has drastically increased, while car accident deaths haven lessened, making suicide the leading cause of injury death.
Suicides via falls or poisoning have risen significantly and experts fear there could be en more going unrecognised, specifically in cases of overdose.
'Suicides are terribly under-counted,' said Ian Rockett, author of the study, published on Thursday in the American Journal of Public Health.
'I think the problem is much worse than official data would lead us to believe. We have a situation that has gotten out of hand.'
He added that his goal is to see the same attention paid to other injuries as has been paid to traffic injuries.
The results were compiled using National Centre for Health Statistics data gathered from 2000 to 2009.
Researchers noted a 25 per cent decrease in car accident deaths, medicalxpress.com reported, while deaths from falls rose 71 per cent, from poisoning 128 per cent and from suicide 15 per cent.
Higher automobile standards were credited for the traffic deaths drop, with harsher penalties for underage drinking and failing to wear seat belts named as contributing factors.
Previous research has suggested that suicide rates go up during recessions and times of economic crisis.
'Economic problems can impact how people feel about themselves and their futures as well as their relationships with family and friends,' Feijun Luo of CDC’s Division of Violence Prevention told Bloomberg.
'Prevention strategies can focus on individuals, families, neighborhoods or entire communities to reduce risk factors.'
The shift makes suicide the most frequent cause of injury deaths, followed by car crashes, poisoning, falls and murder.
The study also looked at gender and race, concluding that fewer women die from the top four causes than men, while Hispanics have fewer car crashes and suicides than whites but a higher murder rate.
In 2009, more than 37,000 Americans took their own lives, a number that the government and private groups such as Facebook are fighting to lower.
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