• Pivotfarm
    04/18/2014 - 12:44
    Peering in from the outside or through the looking glass at what’s going down on the other side is always a distortion of reality. We sit here in the west looking at the development, the changes and...

WABC

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And Then The "Wheels Just Came Off"... Or The Perfect Metaphor For The US (And Chinese) Economy





 


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Frontrunning: January 18





  • Foreign Hostages Die in Algeria’s Battle With Terrorists (Bloomberg)
  • The latest bank to soon join the currency wars: McCafferty Says BOE Must Keep Open Mind on New Policy Tools (Bloomberg)
  • US debt talks complicated by timing (FT)
  • BOJ eyes open-ended asset buying, agrees new inflation goal (Reuters)
  • AmEx Says U.S. Card Income Fell 42% as Loss Provisions Increased (BBG)
  • Call to raise age for US’s Medicare (FT)
  • Obama Promise to Raise Middle Class Living Already Seen in Peril (BBG)
  • China Exits Slowdown as Quarterly Growth Tops Forecasts (BBG) - actually, as new Politburo says to make it appear that way
  • Britain to drift out of European Union without reforms (Reuters)
  • Republicans weigh interim debt-limit hike (FT)
  • Abe's aide says Japan shouldn't fret if yen falls to 100 vs dlr (Reuters) ... and it was 90 just a few days ago
  • PBOC May Seek More Liquidity Operations (Dow Jones)
 


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Newtown, CT Elementary School Shooting Tally Rises To 27 Dead, Of Whom 20 Children - Live Video





Update 3: Adam had Aseprger Syndrome - a high functioning form of autism. In other words, watch as the debate rages over the traditional bogeyman of gun control, in a country with over three hundred million weapons, when we may well simply be talking about a mentally ill young adult.

Update 2 : NY Post now refuting CNN's initial report, and stating that the shooter's real name is Adam Lanza, not Ryan Lanza, who is instead brother of the latter. At this point there appears to be a ridiculous amount of confusion who did what, so it perhaps would be prudent on behalf of the authorities to double check this information before releasing it to the media.

Update: According to CNN the shooter's name is Ryan Lanza, out of New Jersey. Based on a White Pages reverse lookup there is an 18-24 year old Ryan Lanza living in Hoboken, NJ whose FaceBook profile lists Newtown, CT as his home city. Whether it is the same person remains to be confirmed officially.

Sadly, increasingly it appears that not a day, and certainly not a week can pass, in the US without news of some mass killing somewhere. Several days ago its was a mall in Oregon, and today it is a shooting rampage at the Sandy Hook Elementary school in Newtown, Connecticut. Here is what is known: the shooter, who CBS reports is a 20 year old from New Jersey, is reported to be dead. According to CBS 27 people are dead, of whom 18, Connecticut Post 27 people are dead, of whom 20 tragically, children. Among the dead are the principal and the school psychologist. The AP has already dubbed it "the worst school tragedy in American history."

 


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Frontrunning: September 14





  • Weeks before U.S. election, Mideast gives Obama perfect storm (Reuters)
  • Clashes intensify near US embassy in Cairo (Al Jazeera)
  • Puppet governments in trouble: Mursi Risks Rift With U.S. or Voters as Islamists Rally (Bloomberg)
  • Protests Put Egypt Relations on Edge (WSJ)
  • Fed insists politics had no role in decision (FT)
  • UBS "rogue trader" fraudulently gambled away $2.3 billion, court told (Reuters)
  • Obama Holds Lead in Three Key States (WSJ)
  • China's Xi recovering from bad back, could appear soon - sources (Reuters)
  •  Japan voices anger over Chinese incursion after vessels entered waters around disputed Senkaku islands  (FT)
  • Goldman Scales Back Junior-Analyst Program; No Contracts for College Hires (WSJ)
  • China commentary slams Romney's "foolish" China-bashing (Reuters)
  • Aging Baby Boomers Face Losing Care as Filipinos Go Home (Bloomberg)
 


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Guest Post: The Only Way Forward Is To Accept Reality: Default Is Not The End Of The World





Unwelcome crises are part of life. What's unnatural isn't crisis, it's pretending that life should be nothing but a smooth, uninterrupted rise in consumption. Yes, I'm talking about Greece and the EU. The situation is somewhat analogous to finding out your total cholesterol is over 300. Gee, I thought I was eating well, and was in pretty good shape... alas, that was all wishful thinking; normal is 180. At 300, you're at serious risk of long-term health problems
So the European Central Bank injects 120 billion euros of "medicine" to cure you, and a year later your cholesterol readings are 395. Hmm. The "medicine" didn't work; instead, it actively prolonged and deepened the crisis. Humans need time to accept new realities, and to make necessary adjustments. People lose their wealth, they adjust. They lose their successful careers, they adjust. They face health crises, they adjust. This kind of wrenching adjustment is not abnormal, it is utterly normal.

 


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Israel Knesset Member Declares "We Are Preparing For War"





In an interview by Likud Knesset Member Danny Danon, speaking with WND senior reporter Aaron Klein, who hosts an investigative program on New York's WABC 770 AM Radio, the Israeli said that "Israel is preparing for a time of war...We are ready for all scenarios, and we are able to defend our civilian population. I cannot tell you how long we can wait more. But we prefer to wait and see if the international bodies are acting, or [whether] it will be only the burden of Israel, like it was in the early '80s, when the great leader, Menachem Begin, [made] the great decision to bomb the nuclear reactor in Iraq." He concluded: "We don't want this to be a war of Jews against Muslims. It should be a war of Western civilization [against] Iran." Good luck explaining that to 1.5 billion Muslims around the world.

 


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Daily Highlights: 4.13.10





  • Asia stocks, metals decline as Alcoa sales miss estimates; Yen strengthens.
  • China may float Yuan by June 30, avoid one-off revaluation, Bloomberg survey.
  • China's biggest banks face $70B capital shortfall, ICBC's Yang says.
  • Global IT spending expected to rise 5.3% in 2010 - Gartner.
  • Hu says China to follow own path on Yuan as Obama pushes for 'market' rate.
  • Profits for big banks dimmed by home-equity loan loss seen at $30B
  • World oil demand to hit record high this year
 


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