Humphries takes checkers in Virginia Sprint Series opener

first_imgBy Jim HainesSHENANDOAH, Va. (April 2) – On a windy and cold Saturday night, the Virginia Sprint Series kicked off at Shenandoah Speedway and the cat and mouse chase between Tom Humphries and Jerald Harris continued.Humphries topped the trophy dash, then came out on top of the main event for IMCA EMI Rac­eSaver Sprint Cars.Charlie Ware and Tony Harris paced the feature field to green with Harris out first and Humphries and Jerald Harris right behind.The leader bobbled on lap two and Humphries shot to the front, leaving the Harris brothers to fight over second. Jerald got by on lap eight and set off after Humphries for the last half of the race.The top two really went at it but at the stripe Humphries held on for the win. Jerald Harris was se­cond and Anthony Linkenhoker third.On Saturday, April 16, the dirt season kicks off at Natural Bridge Speedway in Natural Bridge, Va.Feature results – 1. Tom Humphries; 2. Jerald Harris; 3. Anthony Linkenhoker; 4. Tony Harris; 5. Charlie Ware; 6. Josh Perreault; 7. French Grimes.last_img read more

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Tino Sven Susic to continue his Career in AC Milan?

first_imgItalian media have been writing again about the arrival of our football team member Tino Sven Susic in Milan, but not to play for Inter, as it was discussed a year ago, but in the ranks of city rival club Milan.Our midfielder is, according to the Calciomercato, in the center of interest of Milan and allegedly FC Hajduk and Milan have already reached an agreement on the transfer.Agent of our national team player and a former football player Milan Rapaic has, according to the media, also offered Susic to the FC Milan. The transfer could be worth 6 million EUR.The article states that Susic is a natural lefty and could play an important role in the midfield of the fallen giant – AC Milan.(Source: avaz.ba)last_img read more

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The Charleston Massacre: Father, Forgive!

first_imgHow does a young man of only 21 choose to live in the distant, miserable past? The very symbols he wore—the swastika of then Nazi Germany, the flag of then apartheid South Africa and the flag of then white supremacist Southern Rhodesia—are all dismal symbols of the rejected, distant past. Does this young man not know that Adolf Hitler, who started Nazi Germany and preached white supremacy (the master race), facing colossal and shameful defeat and failure in his racist enterprise, committed suicide in 1945?Did not Dylann Roof, the 21 year-old white supremacist who shot and killed nine innocent people praying in the African Methodist Episcopal Church in Charleston, SC, also ever hear of how another white supremacist, Ian Smith, who in 1964 declared “unilateral declaration of independence” (UDI) for racist Southern Rhodesia, died? Yes, it was Ian Smith who in 1964 declared, “Not in a thousand years would blacks be ready to lead Southern Rhodesia.” Well, let us tell young Dylann, quoting the immortal words of the great Scottish poet, Sir Walter Scott, that racist Prime Minister Ian Smith, “[forfeited] fair renown, And, doubly dying, [went] down To the vile dust from whence he sprung, Unwept, unhonored, and unsung.” Doesn’t young Dylann know, too, that Zimbabwe was liberated from white supremacy in 1980, 14 years before he was even yet born, and that the very year of Dylann’s birth, 1994, Nelson Mandela, freed from racist apartheid’s 27-year imprisonment, was elected and became South Africa’s first black President?But achieving the presidency was not Mandela’s chief legacy. Far more important, President Mandela, the man who among all the world’s politicians, past and present, comes closest to Jesus Christ, yes, President Mandela FORGAVE the white racists who imprisoned him for so long and subjugated and murdered tens of thousands of his people.This young man, Dylann, has also forgotten—or was he ever taught?—that the scores of African Americans who gallantly fought for the rights of blacks, whites and all other peoples in the great America, a symbol of whom God placed President Barrack Obama in the White House, yes, these great African American heroes are now numbered in America and the world’s Hall of Fame. Among them are Harriet Tubman, Rosa Parks, Thurgood Marshall,Maynard Jackson, Malcolm X, Mohammed Ali and Martin Luther King. Surely, the schools of South Carolina must have taught young Dyland all these lessons—lessons which perhaps he bitterly detested and rejected.And where are the likes of Orval Faubus, Lester Maddox, George Wallace and so many other rabid (extreme) racists and all the slave masters of the American South who dehumanized, brutalized and exploited Africa’s African American forebears? These rabid racists are not only gone, but forgotten, remembered only by the despicable, inglorious and notorious place they carved for themselves in history.That is the ignominy (dishonor, shame) by which you, Dylann Roof, have carved your place in history; and not you only, but your parents who fatefully presented you, on your 21st birthday, the deadly weapon you used to massacre all those innocent people who were gathered in God’s house, sending up praises and prayers to God. But ah! Your parents need not suffer that dreadful fate. The members of Emanuel A.M.E. Church in Charleston have already done what Jesus taught them to do: love and forgive their enemies. The AME parishioners have also, believe it or not, in that court room last Friday, forgiven you, too, Dylann! And that is now their new song—a song of hope, enshrined in the immortal freedom anthem, “We Shall Overcome Some Day.”Yes, they have already overcome. Obama is in the White House, twice elected by the American people! And not only that—he has performed brilliantly and turned completely around the once dreary and miserable economy which he inherited from President George W. Bush.And believe it, Dylan, Obama is only a pacesetter. There will be many more people of color to come, elected Presidents of the United States! All we have to do, as we did for Obama, is to wait on God’s time, and work faithfully and relentlessly toward that day when, to quote Dr. King, all God’s children, black, white, yellow and green, will joyfully sing, “Free at last, free at last, Thank God Almighty, We’re free at last!” Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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CRIME ALERT: HOMEOWNER FOILS GANG WHO BROKE INTO HIS HOME

first_imgCRIME ALERT: A suspicious gang of thieves who attempted to break into a Donegal home this evening were foiled by the terrified homeowner.The callous thieves thought the house was unoccupied and entered the home via the back door. However, the owner was upstairs and when he ran down to confront the men they ran out of the house.The three men where then picked up by a car which was being driven by a woman and they sped off towards Donegal Town.The break-in occurred at 6pm near Kelly’s Garage in Mountcharles.The gang were driving a black 07 D registered Toyota Avensis. There are other reports that the same gang broke into a house on the Pettigo Road late last night.If you see this car then please contact Gardaí immediately and share this information on your social media accounts to raise awareness regarding the cowardly gang of thieves. CRIME ALERT: HOMEOWNER FOILS GANG WHO BROKE INTO HIS HOME was last modified: September 21st, 2015 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Home-page Newslast_img read more

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Boeing draws first blood as US Commerce Department hits Bombardier hard

first_imgOTTAWA – Bombardier’s hopes for breaking into the U.S. commercial aviation market took a massive blow on Tuesday, as the U.S. Department of Commerce proposed a hefty 219 per cent duty on its CSeries jets.The department ruled in a preliminary decision that Bombardier benefited from improper government subsidies, which gave the Montreal-based company an unfair advantage when selling south of the border.The investigation was sparked by a complaint from U.S. aerospace giant Boeing, after Bombardier secured a deal for up to 125 of its CS100s with Delta Air Lines in April 2016.The list price for the planes is around $6 billion, but the actual amount of money involved in the deal has not been made public and Boeing alleges Bombardier offered them for much less.The financial penalties aren’t officially due until Bombardier delivers the first CS100 to Delta, which is expected in the spring. They could also still be dropped or refunded.The key will be whether the U.S. International Trade Commissions finds that Bombardier-Delta deal actually hurt Boeing’s business, a decision that’s not expected until the spring.But the ruling gives Boeing momentum as the dispute drags on, and more leverage in any future talks between the Trudeau government and the Chicago-based company to reach a negotiated settlement.Boeing wasted no time in declaring victory on Tuesday.“Subsidies enabled Bombardier to dump its product into the U.S. market, harming aerospace workers in the United States and throughout Boeing’s global supply chain,” the company said in a statement.The dispute is not about limiting innovation or competition, it continued. “Rather, it has everything to do with maintaining a level playing field and ensuring that aerospace companies abide by trade agreements.”U.S. Secretary of Commerce Wilbur Ross said in his own statement that while the United States values its relationship with Canada, “even our closest allies must play by the rules.”Meanwhile, Bombardier and the Trudeau government appeared to be reeling. Most had expected the Commerce Department to rule against Bombardier, but the size of the proposed duty was surprising.Boeing had been asking for an 80 per cent duty.“The magnitude of the proposed duty is absurd and divorced from the reality about the financing of multibillion-dollar aircraft programs,” Bombardier said in a statement.“Boeing is seeking to use a skewed process to stifle competition and prevent U.S. airlines and their passengers from benefiting from the CSeries.”British Prime Minister Theresa May said on Twitter Wednesday that she was “bitterly disappointed” by the U.S. ruling.She said her government “will continue to work with the company to protect vital jobs for Northern Ireland,” where Bombardier employs more than 4,000 people at its factories in Belfast.Speaking before the ruling, Prime Minister Justin Trudeau promised to continue to stand with Bombardier and Canada’s aerospace industry. He also once again threatened to cut government ties with Boeing.“Certainly we won’t deal with a company that’s attacking us and attacking thousands of Canadian jobs,” Trudeau said outside the House of Commons.But Foreign Affairs Minister Chrystia Freeland made no mention of retaliatory action in a statement released after the ruling, promising instead to continue raising the dispute with U.S. officials at all levels.Tuesday’s finding was actually the first of two that the Commerce Department is scheduled to release on Bombardier. Attention now turns to whether it “dumped” CS100s into the U.S. by selling them below cost.That finding is scheduled on Oct. 4, but could be delayed.But the real question, which is being tackled by the U.S. International Trade Commission, is whether the deal between Bombardier and Delta hurt Boeing.That ruling, which is expected in the spring, will be the key to whether any duties slapped on the CS100s become permanent or whether the case is dismissed and all duties are lifted.Boeing contends that by breaking U.S. and global trade laws, Bombardier created an unfair playing field in the aerospace industry that poses a risk to its long-term business.But Bombardier and its supporters are clearly banking on the trade commission siding with them, now that the Commerce Department has come out with its preliminary findings against the Canadian company.Even if that is the case, however, either side can appeal the entire case to the U.S. Court of International Trade, bring it before NAFTA dispute bodies, or even take the matter to the World Trade Organization.Quebec Finance Minister Carlos Leitao, whose government invested US$1 billion for a 49.5 per cent stake in the CSeries program last year, said he was confident that Bombardier would beat Boeing.But he tempered his optimism by noting that it could take a long time to resolve the case, which Leitao said could hurt Bombardier — and which is why Quebec will continue to support the company.“At the end of the day, as often happens in this type of dispute, the Canadian side will win,” he told The Canadian Press in New York. “Now that day could be a very long day, so that’s where the risks come from.”It was the second bit of bad news for Bombardier on Tuesday — two European railway manufacturers announced they were merging and would present a united front against the Montreal-based company.But there was also a glimmer of good news, after a senior Bombardier official said the firm was hoping to close several deals with Chinese airlines.— with reporting from Andy Blatchford in New York and Ross Marowits in Montreal.— Follow @leeberthiaume on Twitter.last_img read more

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Congress challenge How to tame industry giant Facebook

first_imgWASHINGTON – Facebook isn’t just a company. It’s a behemoth, with 2.1 billion monthly users, $40 billion in revenue and more than 25,000 employees worldwide.And that leaves Washington with a daunting task: How do you tame a corporate giant? Or do you even try?“It’s tricky and it’s going to be hard, but there are ways it can be dealt with,” says Virginia Sen. Mark Warner, a former tech executive who has led investigations into Russian interference on social media over the last year as the top Democrat on the Intelligence Committee. “The idea that we’re going to keep the wild, wild West — I don’t think it’s sustainable.”The picture will begin to come into focus next week. Facebook CEO Mark Zuckerberg is scheduled to testify April 10 and 11 before Senate and House committees as his company grapples with the privacy scandal involving Cambridge Analytica, a political consulting firm linked to President Donald Trump.Facebook’s reckoning in Washington comes on multiple fronts. Russia’s use of the platform to meddle in U.S. elections, a regulatory investigation that could result in fines of hundreds of millions of dollars against the company for privacy violations, and the Cambridge Analytica episode are all topmost concerns.But in the capital’s pro-business, anti-regulatory climate, it’s questionable whether the Republican-led Congress or Trump regulators have the appetite to rein it in.Facebook is spending millions on lobbying to try to ward off regulations, even seeking to narrow a Senate bill that lawmakers call “the lightest touch possible.” It would require more transparency in online political ads, something Facebook says it is providing on its own.But the stakes grew Wednesday when Facebook revealed that information belonging to as many as 87 million of its users may have been improperly shared with Cambridge Analytica, which gathered the data with the intent of swaying elections. That number was far higher than originally known.Congress’ response to the myriad issues dogging Facebook could depend on Zuckerberg himself. He has apologized for a “major breach of trust” in the Cambridge Analytica episode and Facebook has announced it would stop working with third-party data collectors.Privacy advocates and legal experts say that’s not enough.“It strikes me as a company that is trying to weather a PR storm and then get back to business as usual and hoping their users forget this ever happened,” said Nate Cardozo, a senior staff attorney for Electronic Frontier Foundation, a privacy group based in San Francisco.Facebook and other social media companies have faced bipartisan criticism over both privacy issues and the Russian intervention. But Trump and his pro-business GOP allies on Capitol Hill have made rolling back Obama-era regulations a priority, which makes any new federal rules for protecting data and privacy unlikely in the immediate future.Republicans last year struck down online privacy regulations issued during President Barack Obama’s final months in office that would have given consumers more control over how companies like Comcast, AT&T and Verizon share information. Critics complained that the rule would have increased costs, stifled innovation and picked winners and losers among internet companies.And Congress elected to do nothing after Equifax disclosed in September that hackers exploited a software flaw that the credit monitoring company failed to fix, exposing Social Security numbers, birthdates and other personal data belonging to nearly 148 million Americans.Lawmakers have yet to come up with a fix for the patchwork of conflicting state laws that govern how companies shield personal data and notify consumers when breaches occur. Mike Litt, consumer campaign director at U.S. PIRG, a public interest group, said Congress instead is considering legislation that would exempt credit bureaus from data break notifications and make it harder for states to hold them accountable.“After the Equifax data breach, we saw Congress talk a good game but fail to follow through on helping consumers,” Litt said. “To prevent Congress from letting Facebook off the hook, outraged Americans need to keep up the heat.”To defend its interests in Washington, Facebook has filled its executive ranks with former senior government officials from both political parties. Nathaniel Gleicher, its director of cybersecurity policy, was in charge of cybersecurity policy at the National Security Council during the Obama administration. Joel Kaplan, Facebook’s vice-president for global public policy, served as a senior aide to President George W. Bush.The company spent just over $13 million on lobbying in 2017, according to disclosure records filed with Congress. One of the lobbying team’s newer members, Sandra Luff, was Attorney General Jeff Sessions’ national security adviser when he served in the Senate.Zuckerberg suggested during a CNN interview last month that he’s open to regulation. But he quickly qualified that commitment, saying he’d get behind the “right” kind of rules, such as the bill that requires online political ads to disclose who paid for them. But the company is seeking to weaken even that bill.Warner acknowledged that even minor regulation of Facebook and other technology companies will be difficult. But he’s encouraging them to work with Washington now, before a “catastrophic event” that could shift the landscape or if Democrats win back seats in November’s elections.He suggests several possibilities: requiring Facebook and other companies to disclose the country of origin of ads, creating a self-regulatory body, or even allowing users to move their data from one platform to another.More drastic measures could be to allow users to own their own data or to hold social media companies more responsible for what is posted on their platforms.In Europe, Facebook and other tech giants like Google are bracing for tough new data privacy rules that take effect May 25 and will apply to any company that collects data on EU residents, no matter where it is based. The rules will make it easier for consumers to give and withdraw consent for the use of their data.In the U.S., Facebook’s biggest challenge may come from the Federal Trade Commission, which is investigating whether the company violated the terms of a 2011 settlement that made privacy assurances.Facebook agreed then to settle the commission’s charges that it deceived users by assuring them their information would remain private, then repeatedly allowing it to be shared and made public. Each violation of the agreement could carry a penalty of up to $40,000, according to settlement terms, meaning potential fines in the hundreds of millions.Frank Pasquale, a University of Maryland law professor who’s written extensively about how corporations use personal data, said the federal government’s antitrust enforcers should be more vigilant with Facebook.Facebook has completed dozens of mergers and acquisitions since it was founded in 2004. Pasquale said the Obama administration failed to realize the significance of two of Facebook’s largest purchases: the photo-sharing app Instagram for $1 billion in 2012 and WhatsApp two years later for nearly $22 billion.“This is clearly a monopolistic company that is trying to eliminate even the smallest challenge to its domination of the social media market,” he said.The privacy scandal has taken a heavy financial toll on Zuckerberg and Facebook. Forbes Magazine estimated that Zuckerberg’s net worth dropped over the last month from $71 billion to $61.7 billion. Facebook’s market value has fallen by more than $88 billion in less than three weeks since the scandal broke, from nearly $538 billion in mid-March to about $449.5 billion.___Associated Press writer Marley Jay in New York contributed to this report.last_img read more

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Villagers request HSPCB for groundwater test as trash grows in Bandhwari plant

first_imgGurugram: Residents of four villages that includes Gwalpahari, Baliawas, Mandi and Ko— living close to the Bandhwari waste treatment plant have requested the Haryana State Pollution Control Board (HSPCB) to carry out groundwater testing in their areas.The villagers fear that the groundwater — the only source of water for them — has been polluted like it was found to have been in three other villages — Bandhwari, Mangar (Faridabad) and Dera (Delhi) where tests were carried out earlier. Also Read – Odd-Even: CM seeks transport dept’s views on exemption to women, two wheelers, CNG vehicles”As groundwater contamination by leachate has increased manifold in the past two years, we are sure that all surrounding areas, including my village (Gwal Pahari), has been affected. The problem is that most of the residents still rely on groundwater for consumption. We, therefore, demand groundwater testing at the earliest,” said a villager from Gwalpahari, who did not wish to be named. The dumping of more than 1,600 tonnes of mixed waste at the plant, every day, creates a stream of dirty black water, also known as leachate. Also Read – More good air days in Delhi due to Centre’s steps: JavadekarRecently, the National Green Tribunal (NGT) came down heavily on the Haryana government and directed authorities to carry out damage impact study and test groundwater samples in Bandhwari and other surrounding areas. Kuldeep Singh, regional officer, HSPCB (North), said, “We have forwarded the concerns raised by the residents to the CPCB, and the MCG commissioner who can help analyse the previous records (before the plant came up) and present situation. A detailed study has to be carried out by the CPCB, after the NGT directions.” At present more than 1,000 tonnes of garbage from Gurugram and Faridabad is discarded daily at the area that is nestled in the green belt of Aravallis. Based on the proposal, the plant will treat more than 100 kiloliters of leachate daily. It will be set up the Chinese company Eco green that has also been entrusted with the responsibility of recycling the waste in the area into the creation of power and other useful forms. As the layout of the projects, works may begin soon as claimed by certain public officials. Recently in the public meeting, the deputy commissioner of Gurugram instructed officials to ensure that all of the city’s bulk waste generators segregate waste on site and have their own composting units. He also instructed that this model should be replicated on an industrial scale for large manufacturing units, as well as at a panchayat level throughout Gurugram district.last_img read more

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In This Issue   Currencies eke out small gains

first_imgIn This Issue. *  Currencies eke out small gains. *  Eurozone AQR results on Sunday. *  Brazilian election on Sunday, finally! *  China’s Gold demand in 2013 reaches 2,199 tonnes! And Now. Today’s A Pfennig For Your Thoughts. A Good Data-Wise Week For China. Good Day!…  And a Happy Friday to one and all! What a grand evening at the EverBank Art Show and Open House last evening! WOW! I got to see lots of old friends, and meet some new ones! People would come up to me, and say, Hi Chuck, but I would have to look at their name tag to see who they were, and then they would explain to me that they are Pfennig Readers, and they feel like they knew me already. Pretty cool, eh? There’s another Ebola case, this time in N.Y. But for the most part, the hysteria over this virus, has calmed down a bit, and that’s good, because I was really beginning have the bejeebers scared out of me! The Currencies seem to be stuck in the mud again, as they really haven’t moved much, except kiwi, the past 3 days. The moves have been quite small, but at least they are positive moves. I can’t say that for Gold though. The headlines stories on Bloomberg suggest that Gold is suffering because investors are taking a positive view of the U.S. economy. Really? That’s all they can come up with? And IF investors are taking a positive view of the U.S. economy they certainly must be using those rose colored glasses the Gov’t keeps passing out. UGH! But that’s fine! You would think that lessons would have been learned a few times, but apparently, these investors don’t subscribe to the saying that lessons learned are like bridges burned, you only need to cross them but once. Hey! I just saw a thing on the TV, I didn’t catch all of it, but it was a report that showed that after 60, people should continue to have a drink or two to improve the memory. Well, let’s see, next March I’ll turn 60. But I’ve always subscribed to the Cliff Clavin theory that it’s like the slowest Buffalo thing. You know, the slowest Buffalo gets killed, and it makes the herd faster. You have a drinks and it kills off the slowest brain cells, making the rest of the cells smarter!  Well, that’s my story and I’m sticking to it! HA! Nothing like a little Cliff from Cheers on a Friday to start our day, especially since I was getting so hot and heavy right from the get-go this morning on stupid thoughts by investors. I hear that 3M,IBM, McDonalds, and quite a few other Big U.S. Businesses with overseas operations are feeling the sting of the dollar rally that we’ve seen going on for a couple of months now. Not that I give two hoots about Big Businesses and their earnings, but this dollar rally brings about a lot of problems. There are always unintended consequences of things, and this is one of the unintended consequences of having a dollar rally. Imagine the whining you would be subjected to hearing should the pundits that are calling for a multi-year rally in the dollar, have their wishes come true. YIKES! Alrighty then. Yesterday, I was asked by Chris Gaffney about the stress tests in the Eurozone, and I had read some reports on the subject, and made a comment that was baseless. UGH! You see, the reports, after going back and reading them again, were talking about “what ifs” and I didn’t catch that the first time. So, here’s what’s really going on for those of you keeping score at home. The Eurozone Bank Stress Tests called AQR (Asset Quality Review) results are going to be printed this Sunday, 10/26. I think the ECB picked this day in hopes that the AQR could get lost in the shuffle of a weekend, and the Brazilian election. Basically, I think that the AQR will be OK. The problem I see for the AQR and the euro is that IF the AQR shows a lot of rot on the Eurozone banks’ vines, the euro will get hurt, but IF the AQR is OK.. the euro won’t benefit from the OK results. The markets are simply set on the “hurt the euro” setting. I sure hope they don’t “set it and forget it”! HA! Speaking of stress tests. The Fed announced yesterday that they will examine how exposed the largest U.S. Banks are to “risky corporate borrowers” in their next stress test in 2015. I don’t think you should look at things that you don’t want to see. I think the Fed will not like what they see when they do that examination. But nothing is going to happen because of the findings. Nothing, absolutely Nothing, say it again! So, it’s all been about very tight ranges but remaining positive for the currencies since Wednesday this week, and it appears we’ll close the week in this trading pattern. Most of this has been because there’s been little to nothing in the U.S. Data Cupboard, and no news about the anything else. The Cable News Stations are dying right now, searching for news, which is always interesting when they start putting tractor pulls, and church sermons on the air.  We did have some economic data from China earlier in the week, but by now everyone has forgotten that China surprised on the upside of CPI, IP, PMI’s, and a couple of other prints. It was a good week for China and Global Growth, but as I just said, that’s in the rear view mirror now, except for dolts like me that keep dragging it out for everyone to see!  But I don’t want investors to forget about the strong data week from China.  Of course that didn’t help the renminbi / yuan, as the Chinese leaders decided to end the week with the currency weaker than when the week began. UGH! Leon Russell is singing: Back To the Island, right now. So I’m going to stop here, and be back in a minute. OK. I’m back now. check out these words. I hope you understand, I just had to go back to the island, and watch the sun go down, hear the sea roll in, But I’ll be thinking of you, and how things might have been. OK. Sorry for about that to all you that aren’t fans of Leon Russell, or my dragging out song lyrics in this letter. But, as I’ve always said, it’s my letter.  I know I made an exception of kiwi above when talking about the currencies being positive VS the dollar this week, but stuck in the mud. But, kiwi is attempting to rebound this morning. Kiwi had better do an impression of Paul Silas, and do some major rebounding to recover its losses this week, that came initially from the drop in N.Z. CPI (consumer inflation) but after that was strictly technical in nature, as certain points were hit and so on. But, at least the tourniquet has been wrapped around kiwi this morning. The latest polls show that a favorable outcome for incumbent Dilma Rousseff in Brazil. and that has the real on the skids again. This whole election process in Brazil has given me a rash, and I for one will be happy when it’s all over with. And I’m not just saying that because Rousseff keeps winning! I don’t like seeing the currency get all caught up in the goings on with the polls, voting and everything else. But it has, and brother, if Rousseff does win this  Sunday, as the polls suggest, I don’t want to come in and see what the real looks like on Monday morning! The only thing the real can hope for is that most of the selling has already taken place with the polls. you know a selling the rumor buying the fact scenario. But we won’t know until Monday gets here. The news from Singapore is a tale of two components that make up Industrial Production (IP). I’ve been telling you about how Singapore’s electronics production numbers were slipping each month, and Pharmaceuticals (Pharma) was offsetting the electronics decline.. Well, in September, we had a reversal of those two components, with Pharma falling sharply but being partially offset by recovery of electronics. Overall, IP fell -1.2% in Singapore, and I think that has a lot to do with the slowdown not only in Asia, but in the U.S.. You see, this is a very important component to what’s going on in the U.S. economy, folks. You have to connect the dots, or at least you don’t have to, you have to have me connect the dots! The Chinese renminbi/ yuan closed the week with a weakening of the currency, but last night’s weakening was very small. And with that small weakening, the Singapore dollar (S$) is weaker by a very small amount this morning. There are articles being written about how China has stated they that will not stimulate the economy this time around, but then you hear about the story I told you of earlier in the week about how China announced a $32 Billion injection into lenders. So, are they going to step in to even the economy out, or will they decide to stay out?  I think that if push comes to shove, and the Chinese GDP would begin to plunge, that the Gov’t would step in BIG TIME.  But how this all relates to the renminbi/ yuan, is anyone’s guess, as the Gov’t continues to manage the currency to no one’s call. I still think that in the end, the renminbi/ yuan will continue to book 3% gains per year. The Canadian dollar / loonie has been one of the better performing currencies VS the dollar this  week, along with the S. African rand. The Bank of Canada (BOC) left rates and their bias all unchanged this week, but that hasn’t stopped the loonie from pushing the currency appreciation envelope. I find this week’s moves in the loonie interesting, in that earlier in the week I read a report from a Canadian Bank that was talking about the “swoon in the loon”, and the report said that quite a few Canadian banks were calling for more weakness in the loonie. But that’s all based on the thought that the plunge in Oil prices could continue. As I’ve stated here twice this week, and now this makes 3. I don’t believe the plunge will continue at the same pace, and it could very well be over with. And I just mentioned it, but I can’t get out of here this week, without mentioning that the S. African rand will finish this week, that is unless all hell breaks loose in the currencies today, with the 3rd consecutive week of gains VS the dollar.. Yes, it’s been quite stealth-like, this move in the rand. And the news this week that the new budget was well received by the markets, really opened up Pandora’s Box of currency rallies for the rand.  This is where I normally step in and say that the rand is very volatile, and when it’s volatile bad, it’s really bad.  That has been a public service announcement. Gold is flat this morning, and lost a few bucks yesterday. I talked above about what the headline news are saying about Gold so I won’t go there again, and get my dander up on a Friday morning. I already started down that road, and had to resort to quoting Cliff from Cheers to stop me from throwing things and yelling at the walls. The thing that really gets me lathered up is the latest report from Koos Jansen. Let’s listen to Koos reporting on Bullionstar.com and Google+. “We now have official confirmation from the China Gold Association (CGA) that Chinese wholesale Gold demand in 2013 reached 2,199 tonnes, in contrast to what all Western consultancy firms and new outlets have been reporting.” – Koos Jansen.  WOW! That’s crazy man! Remember when we thought that China had really pushed the Gold demand envelope when it was first reported that their demand was 1,074 tonnes?  Well, in the end, it was more than twice that amount!  Hey, China isn’t just adding to its currency reserves by the boat load every year for the fun of it folks. There’s something going on here. I’ve told you over and over again that this dance is gonna be a drag, no wait! I’ve told you over and over again that I believe the Chinese and the Russians are going to back their currencies with Gold (at least some % of backing)  But, even if it’s a case of having the countries of the world come together at the table to show how much Gold they have, China will win. The 2014 figures will be interesting don’t you think? The U.S. Data Cupboard is back to not much to offer today, with only New Home Sales data to print.. Yesterday, the Initial Jobless Claims for last week rose by 17,000, the Leading Index rebounded in September from August’s 0% print, with a gain in September of .8%, but it’s been back and forth for this data every month, so we can’t get too excited about this one print, and the Markit U.S. PMI slipped to 56.2 from 57.5 the previous month. Still comfortably above the 50 level though. Before I head to the Big Finish today, I found this on Zerohedge.com and thought it hits the nail on the head, it’s a quote from Van Hoisington. “The U.S. economy continues to lose momentum despite the Federal Reserve’s use of conventional techniques and numerous experimental measures to spur growth. As Kindleberger clearly stated, the process of excess liquidity fueling higher prices in the face of faltering fundamentals can run for a long time, a phase Kindleberger called “overtrading”. But eventually, this gives way to “discredit”, when the discerning few see the discrepancy between prices and fundamentals. Eventually, discredit yields to “revulsion”, when the crowd understands the imbalance, and markets correct.” For What It’s Worth. Today this will be a combination of me, and Dave Gonigam of Agora’s “5 Minute Forecast” or just the “5” as I call it.  The other day Dave printed some very interesting stuff for people like me that have had cancer enter into their bodies. I’ll let Dave take if from here for a snippet  and then I’ll come back with my 2-cents. He’s talking with Stephan Petranek, the 5’s technology guy, talking about a cure for Cancer. yes that’s right a cure, not a treatment, a cure! “This new therapy is something else altogether. It works like this: Doctors take blood from a cancer patient and put it in an extremely high-tech version of a test tube. In the test tube, T cells are withdrawn from the blood and re-engineered so they can identify and attach to a specific kind of cancer that’s growing in that patient. “The new T cells are infused into the patient,” Stephen goes on, “where they multiply, proliferate and grow.” The process takes all of six days.” Chuck again. I can’t tell you how happy I was to read this info the other day. I’ve been waiting for something like this!  And yes, I know it’s only in trials right now, but so far, 13 dire straits cancer patients have been treated and 8 are in remission. and the other 5 have seen good results.  Now, how long will it be before the FDA approves this? To recap. The currencies seem to be stuck in the mud, but with positive gains, albeit very small this week. Hey! It’s better than a sharp stick in the eye!  Or an all-out dollar assault. which is about the same thing to me.  It’s been a good week data-wise for  China, but that’s been no panacea for the renminbi / yuan.  the U.S. Data Cupboard has been pretty void of good data this week, and today is no different. And gold can’t seem to find a bid again after pushing higher earlier in the week. Bloomberg says Gold gets shunned by investors who believe the U.S. economy is strong. Currencies today 10/24/14. American Style: A$ .8785, kiwi .7855, C$ .8925, euro 1.2660, sterling 1.6055, Swiss $1.0495, . European Style: rand 10.9590, krone 6.5870, SEK 7.2590 forint 243.65, zloty 3.3375, koruna 21.8690, RUB 41.95, yen 108, sing 1.2765, HKD 7.7575, INR 61.27, China 6.1467, pesos 13.55, BRL 2.4885, Dollar Index 85.75, Oil $81.36, 10-year 2.25%, Silver $17.28, Platinum $1,257.13, Palladium $786.66, and Gold. $1,233.98 That’s it for today.  It’s Friday! Yahoo! It sure was nice to see my colleagues gussied up yesterday for the Art Show. Everyone acted like they were surprised to see me return for the gala affair. Oh well, better to surprise than depress.  I got a kick out of talking to my old friend, that wily veteran, Jack Milner last night. We used to play on the Mark Twain Bank Softball team which really just meant that we sat on the hill after the game sharing stories and throwing back a couple of cold ones. I got home last night and turned on the Blues game, and Vancouver scored a goal, putting them ahead 2-1, and I thought, “oh I was bad luck” and so I turned it off and went to bed!  The World Series gets going again tonight in S.F. My beloved Missouri Tigers return to Columbia Mo. For Homecoming weekend at Mizzou.The whole Homecoming tradition started at Mizzou, so we’re famous for something! HA! I won’t make it this year, but I talked to at least two guys last night that were heading down tonight for the House Decs tour, and the game tomorrow. Wish I was going, it’s going to be a lovely day tomorrow! And with that. it’s time to get off this bus today, and wish you a Fantastico Friday!  Bye~ Chuck Butler President EverBank World Marketslast_img read more

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