For centuries, humanity has utilized “colloidal silver” to treat disease and infection, and to prevent disease and infection. Colloidal silver is (primarily) an internal medical treatment, created by immersing particles of silver in a colloidal solution.
As today's latest example of pervasive, apparently endless criminality at the world's largest banks, where once again the shocked public is exposed to a culture of sociopathic, unchecked greed and perpetual raping of clients, showed, one is either part of the all too literal "cartel", or one loses money. However, for those who are unfamiliar with the nuances of FX trading, one doesn't even have to be on the other side of the world's most criminal, above the law, cartel of bankers to have no P and only L: the fundamental premise of currency trading, whereby one can and will be stopped out thanks to leverage as high as 50x - by others but mostly by one's own brokers as we learned today courtesy of JPM, Citi, RBS, HSBC and UBS - is the very same reason why as retail FX trader Dan Gratton, a 71-year-old retiree who lives on Social Security in Kingman, Arizona has found out: "Probably the most consistent thing is losing."
Moments ago the Obama administration revised its estimate for Obamacare enrollment, now saying - with the bruising midterms safely in the rearview mirror - that it expects some 9.9 million people to have coverage through the Affordable Care Act’s insurance exchanges in 2015, millions fewer than outside experts predicted. And actually it is not even 9.9 million: "Health and Human Services Secretary Sylvia Mathews Burwell said Monday the administration was aiming for 9.1 million paid-up enrollees for 2015, though the range could extend to 9.9 million, according to the agency’s analysis. Ms. Burwell said she respected the work of the Congressional Budget Office and its projections but that she believed HHS figures were based on the best and most up-to-date information." So really 8 million, or less?
"Drop that plate right now!" – Florida police to 90-year-old WW2 vet Arnold Abbott as he tried to feed homeless people
- LOL@Fundamentals: European Stocks Fall as Investors Seek Stimulus Clarity (BBG)
- Obama, Republicans sound conciliatory note but battles loom (Reuters)
- Firms drop Pimco funds from managed accounts (Reuters)
- Not All QE Is Created Equal as U.S. Outpunches ECB-BOJ (BBG)
- Ukraine Accuses Russia of Sending Troops as Truce Wobbles (BBG)
- Lenovo Slumps After Projecting China ‘Hypergrowth’ to End (BBG)
- Palo Alto Networks discovers new malware targeted at Apple devices (Reuters)
- IPO That Brought In $1 Billion in March Implodes in Denmark (BBG)
While hardly a surprise, the spin for the latest round of overnight BOJ USDJPY-buying exuberance, which sent the pair higher by another 100 pips to a fresh 7 year high of 114.500 and just over 500 pips from the Albert Edwards "line in the sand" 120 and pushed US equity futures higher with it, has been the Republican sweep in the midterm elections which not only solidified GOP control of the House but also gave Republicans outright control of the Senate.
"Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other" - Oscar Ameringer
House: 435 Seats, 43 Undecided, Results: Republicans 235 - 157 Democrats (Dem -8, Rep +10)
Senate: 100 Seats, 4 Undecided, Results: Republicans 52 - 45 Democrats/Independents (Dem -7, Rep +7) REID CONGRATULATES MCCONNELL ON REPUBLICAN SENATE WIN
And here are 5 things to watch for the day after the election...
- Republicans expect gains, but many races close on election day (Reuters)
- Ahead of tough election, White House blames dismay with Washington (Reuters)
- On Election Day, a Tale of the Young and the Old (WSJ)
- Because the recovery: Sprint to Cut 2,000 Jobs as Mobile Customers Keep Leaving (BBG)
- Ukraine's rebel leader is sworn in, crisis deepens (Reuters)
- Brilliant: Burkina Faso Army Promises Religious Leaders It Will Step Down (BBG)
- More Unknowns Leave Central Banks Facing Greater Internal Strife (BBG)
- Scapegoat found: IBM to Change Leadership at Global Services Unit (WSJ)
- Explains why Europe just slashed its GDP forecast: Don’t Be Fooled by Warm Spell as Cold Air About to Return (BBG)
"Solutions to the world's problems are not produced in a meeting between Bill Gates and George Soros... Renewal has to come from below... Limiting the influence [of the richest] is of the utmost importance... so that today's upper-class, high-finance capitalism can once again revert to being a capitalism of the real economy and the societal center."
If you require more evidence that the United States is a dysfunctional society, observe American elections. Election season is slander season. Each party’s attack teams focus on misrepresenting, defaming, and ridiculing the opposing party’s candidates. Attack ads have replaced debates and any discussion of what the issues are, or should be, and how candidates perceive the public’s interest. Each attack team tells lies designed to enrage various voters about the other team’s candidate. Whoever is elected is indebted not to voters but to the special interests that provided the campaign money.
"Since 9/11, those thank yous have been aimed at veterans with the regularity of the machine gun fire that may still haunt their dreams. Veterans have also been offered special consideration when it comes to applications for mostly menial jobs so that they can “utilize the skills” they learned in the military. While they continue to march in those welcome home parades and have concerts organized in their honor, the thank yous are in no short supply. The only question that never seems to come up is: What exactly are they being thanked for?"
For those living in Cleveland, where home prices rose a tiny 0.8% compared to last year (a number which is sliding every month), the latest dead housing cat bounce is almost over, and with the release of the September, or at the latest, October numbers, expect the first Top 20 US MSA to go back into annual price decline for the first time in two years. Those living in America's other cities are safe, for now. Then again, while still rising at a comfortable upper-single digit pace, all California cities as well as Las Vegas, are about to hit a brick wall, as the Y/Y pace of price increases is now grinding to a halt.
Winston Churchill once said that "You can always count on Americans to do the right thing - after they've tried everything else." By 'everything else' apparently he also meant hiring thousands of Nazis as Cold War spies and informants and, according to the NYT, "as recently as the 1990s, concealing the government’s ties to some still living in America."
- White House questions new Ebola rules, nurse plans to sue (Reuters)
- States stand firm on Ebola quarantines despite White House pressure (Reuters)
- Rousseff Naming Brazil Finance Minister Key to Regain Trust (BBG)
- Ukraine leader wins pro-West mandate but wary of Russia (Reuters)
- Single Firm Holds More Than 50% of Copper in LME Warehouses (WSJ)
- Treasury Liquidity Squeeze Seen as Dealer Shut Off Machine (BBG)
- CVS follows Rite-Aid, shuts off Apple Pay (USAToday)
- Oil Speculators Bet Wrong as Rebound Proves Fleeting (BBG)
- Draghi Sets Stimulus Pace as ECB Reveals Covered-Bond Purchases (BBG)
- German Ifo Business Confidence Drops for Sixth Month (BBG)
What do an old German bank note, a current $100 bill, and an apple all have in common? The answer, according to ConvergEx's Nick Colas, is that these simple objects can tell us much about the current investment scene, ranging from Europe’s economic challenges to the U.S. Federal Reserve’s attempts to reduce unemployment. Colas takes an “object-ive” approach to analyzing the current investment landscape by describing 10 common items and how they shape our perceptions of reality. The other objects on our list: a hazmat suit, a house in Orlando, a barrel of oil, a Rolex watch, a butterfly, a heating radiator in Berlin, and a smartphone.