Health - Google News
Health Essentials from Cleveland Clinic
New Device Could Help Stop Hair Loss During Chemotherapy
Karen Dicken tries on a new experimental scalp cooling device that could prevent hair loss during chemo. (Source: CBS News). Follow CBSMIAMI.COM: Facebook | Twitter. DALLAS (CBSMiami) – For breast cancer patients the diagnosis alone can be ...
Preventing Hair Loss in Breast Cancer Treatment
Scalp cooling device helps prevent hair loss from chemo
'Cold Caps' May Halt Breast Cancer Hair Loss
Surgeon General calls youth vaping a public health threat
FILE - In this Feb. 4, 2014, photo, U.S. Surgeon General appointee Vivek Murthy appears on Capitol Hill in Washington. The U.S. surgeon general is calling e-cigarettes an emerging public health threat to the nation's youth. In a report being released ...
EXCLUSIVE: Vivek H. Murthy — e-cigarettes aren't safe for our kids
Surgeon General: Increase in vaping 'a major public health concern' for nation's youth
Denver Doctor Reacts To Surgeon General's Warning About E-Cigarettes
It's Not True Obamacare Insures 20 Million. Here Are the Real Numbers.
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Obamacare: The first time some families got health insurance
Here's What's At Stake For Women If Trump Repeals Obamacare
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8 Controversial Executions That Sparked Lethal Injection Debates
Creepy Florida is Stockpiling a New, Untested Execution Drug
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Four more cases of locally transmitted Zika confirmed in South Texas
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4 more locally transmitted Zika cases reported in Cameron Co.
4 more likely homegrown Zika cases found in Texas
Four more locally trasmitted Zika virus cases found in South Texas
'We need a new strategy' to pay for curing cancer, White House expert says
“Nixon declared war on cancer in '71. I don't say this often: You really have to admire him because he had no army, he had no weapons, he had no strategy. But he said, 'We're going to do this.' And now, 45 years later, we have millions of patients who ...
New CDC data understate accidental shooting deaths of kids
IOWA CITY, Iowa — Government statistics released this week claiming that 77 minors in the U.S. were killed by unintentional gun discharges last year significantly understate the scope of an enduring public health problem. A review of shootings ...
Overdose deaths rise in Minnesota, hitting young people and rural areas hard
Heroin Deaths Topped Gun Homicides Last Year, Depressing CDC Data Shows
EDITORIAL: We're all hooked on drugs
FDA cracks down on flavored cigarettes labeled as cigars
The Obama administration is cracking down on tobacco companies selling flavored cigarettes labeled as "cigars" or "little cigars." ADVERTISEMENT. The Food and Drug Administration (FDA) on Friday sent letters to Swisher International, Inc., Cheyenne ...
FDA warns four companies for labeling flavored cigarettes as cigars
FDA takes action against four tobacco manufacturers for illegal sales of flavored cigarettes labeled as little ...
New York Times
No New Local Zika Transmissions in Florida, Governor Says
New York Times
Tourists were back in force at Art Basel fairs last weekend. Guests enjoyed an event at Soho Beach House. Credit Bryan Bedder/Getty Images. MIAMI — Four months after Zika roiled Miami-Dade County and put the rest of Florida on alert, Gov. Rick Scott ...
Gov. Rick Scott lifts last Zika zone in Miami Beach, but isolated cases still expected
Health officials: Zika no longer actively spreading in Florida
Florida No Longer an Active Zika Zone, Officials Say
Conjoined twins Erika and Eva on post-surgery course to be 'two happy, healthy girls'
Mixing hard medical facts with light-hearted humor, surgeons for conjoined twins Erika and Eva Sandoval recounted details Thursday of the risky and intricate surgery that cleaved the girls in two. Two days after the girls were wheeled into surgery at ...
Mother of Once-Conjoined Twins Posts 'Dada' Facebook Video of Boys
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Palo Alto: Conjoined twins separated in successful surgery
Google Alert - cancer
Google Alert - healing
Google Alert - Obesity, Diabetes
Joe Scarborough dropped an epic dose of truth on Hillary and her disaffected, snowflake supporters this morning after Clinton herself took to the stage yesterday to blame "fake news" for her stunning loss. Apparently not a buyer of the "fake news" excuse, Scarborough blasted Hillary, and democrats in general, saying that "Hillary Clinton cost Hillary Clinton the election."
“When you look at this ‘fake news,’ and you see what happened up at Harvard and you hear everybody writing articles saying millennials cost Hillary Clinton the election, and dogs with three legs cost Hillary Clinton the election, and comets passing in the night– Hillary Clinton cost Hillary Clinton the election. Hillary Clinton’s campaign staff cost Hillary Clinton the election.”
“Listen, if you care about Democrats digging out of the hole that they have put themselves in now, you’ve got to ask yourself; what have Democrats done to so offend Americans that they only have 11 governorships, they’ve lost control of the Senate, they’ve lost control of the House, they lost 900 legislative seats over the past six years?”
“It wasn’t fake news. It was something much, much bigger.”
Meanwhile, Joe's deflated co-host, Mika Brzezinski, could only muster this response: “Ugh, I don’t think people are ready to hear that, Joe.”
Clinton addresses the 'epidemic of fake news' https://t.co/DlbqxmyfJJ
— Morning Joe (@Morning_Joe) December 9, 2016
Hold your real assets outside of the banking system in one of many private international facilities --> https://www.sprottmoney.com/intlstorage
Back in April, the Cartel Shills and Apologists attempted to minimize the news that a settlement had been reached regarding a "nuisance lawsuit" alleging price rigging in gold and silver. As we told you at the time and on many occasions since, this case is instead quite significant and very important. The latest update on the case, released late yesterday, sheds more light upon what we've always known was taking place behind the scenes in the "free and fair precious metals markets".
First, just another reminder of the two key points:
- Because of Deutschebank's settlement offer and willingness to turn "state's evidence" in the case, for the very first time a civil lawsuit regarding gold and/or silver price manipulation is being allowed to move forward into the legal discovery phase. This means depositions, affidavits and subpoenas. Never before has a case been allowed into this phase as all previous civil suits were thrown out by Bank-favored judges before discovery could begin.
- With Deutschebank now having agreed to nearly $100MM in settlements in the case, there is now the proverbial "blood in the water" for every class action attorney in the world. This current laswuit is just one case and this Deutschebank settlement is just one small part of it. There will now be countless new lawsuits filed, each of them seeking damages from The Bullion Banks for the now-discovered and proven collusion and manipulation of precious metals prices. Potential claimants range from mining companies to shareholders to day traders to investors/stackers.
So, what did we learn today. Here are two links...one from Reuters and the other is a more detailed analysis from ZeroHedge. We strongly urge you to read both.
And here are the amended full filings from the case:
From the ZeroHedge article, here are two text exchanges that have been unearthed and submitted only because of the Deutschebank cooperation and legal discovery. There will be many, many more. Of that you can be certain. (click to enlarge)
As an aside, note the date of the exchanges posted above....May and June of 2011. After reviewing this evidence of direct collusion between The Bullion Banks, do you have any remaining doubt as to the origin of the trades in the May Day Massacre of Sunday, May 1, 2011? That sudden $6 drop in silver brought an abrupt end to the Cartel short squeeze that had pushed silver from $38 to $48 in April of that year. What followed were five CME margin hikes in nine days and silver falling to $38 in days and $26 within weeks. Again, after reading the text messages above, you now know precisely how this was accomplished.
Additionally and on a personal level, you now have confirmation of why TFMR exists in the first place. We gained
notoriety in 2010 because we were able to offer precise guidance on price due to recoginition that Cartel traders were colluding to move price, run stops and paint charts. Because we could predict in advance where these traders would act, TFMR rapidly grew and ultimately became what it is today. Though we've since shifted our focus to broader topics, rooting out and exposing The Bullion Bank Cartel remains our focus. Bringing about an end to the manipulation and the Bullion Bank Paper Derivative Pricing Scheme will always be our ultimate goal.
But this is far from over. If we know anything about the legal process it's that it takes time and there are always delays, filings, briefs etc. Therefore, do not expect an abrupt end to the Bullion Bank price manipulation in the next few weeks. Instead, recognize these key takeaways:
- The potential monetary liabilities alone will now force many smaller players in bullion banking to exit the sector. Even some of the larger Banks, sensing the declining profits and increasing liabilities will close up shop.
- The mining companies and their executives, now finally faced with the truth about their alleged allies The Bullion Banks, will soon begin shifting their hedging and financing activities away from The Billion Banks and the LBMA.
- Points number 1 and 2 will lead to an ever-decreasing market share and dominance of fraudulent LBMA and Comex system.
- As the Paper Derivative Pricing Scheme loses influence and importance, a shift toward true physical price discovery will move to the forefront.
What does this mean to you?
Since you now know with certainty that the "price" derived through the digital exchange of paper derivatives is
false and manipulated, you MUST use this knowledge to your advantage. Remember, physical gold and silver are priced as if they are abundant when they are not. What IS abundant is the paper dervivative that is used to set the price. As derivative trading fades away, physical trading and pricing will take over. And the price discovered in a truly physical market will most assuredly NOT be $1200 or $17 per ounce.
Have a great day, confident in knowing that you have been proven correct and that you are winning.
Please email with any questions about this article or precious metals HERE
The market rally on Wednesday was quite a stunner given the already full extension of the market advance following the election. However, as Art Cashin noted in his latest note to his clients (courtesy of Zerohedge)
“Around 11:45, a series of electronic buy programs helped lift the Dow and S&P out of the morning’s narrow range. I noted that in an email to some friends around noon:
What many of us did not realize at the moment was the probability that the buy programs may have been triggered by events in another sector. Just before the buy programs kicked in, the rally in the Dow Transports was shifting up a gear as the index was on the verge of punching through to a new record high. If the Transports made a new record high, it would confirm the record high in the Industrials, thus giving a Dow Theory buy signal.
As that realization spread, the algorithms kicked in with buy program after buy program and the race was on.”
The problem with the breakout and advance on Wednesday is the exacerbation of the market’s deviation from its longer term mean. As I noted on Tuesday:
“The importance of understanding the nature of reversions is critical for investors. Markets rarely move in one direction for very long, notwithstanding overall trends, without a correction process along the way. While the chart below shows this clearly for the overall market, it applies to individual sectors of the market as well.”
“Importantly, notice the bottom two part of the chart above. When there is a simultaneous culmination of overbought conditions combined with a more extreme deviation, corrections usually occur back to the underlying trend.
This can also be seen in the next chart as well. While the “Trump Rally” has pushed asset prices higher and triggered a corresponding “buy signal,” that signal has been triggered at very high levels combined with a very overbought condition. Historically, rallies following such a combination have not been extremely fruitful.”
While the “exuberance” of the Trump rally has certainly awakened the “animal spirits,” the sustainability of the advance from such egregiously overbought conditions is questionable. David Rosenberg weighed in on this point via The Globe & Mail:
“Okay, so the president-elect is now at 3 percent, again skewed by two or three sectors. Big deal. Ronald Reagan, who was the original ‘Make America Great Again’ advocate (as opposed to a copycat), saw the equity market soar 6 percent in his first month in office.
Guess what? The market peaked less than four weeks into his term and for the next two years, we had an economic downturn and a 25-percent slide in the stock market. The combination of rising bond yields, Fed tightening, and a stronger dollar took care of that honeymoon.
After all, we all know what happens when the honeymoon is over. The hard work begins.
That slump we just saw in October export volumes and widening in the trade deficit is surely just an early sign of what is to come.
Before The Donald does anything on his first hundred days, something tells me the lagged impact of the tightening in financial conditions associated with the recent bounce in interest rates and appreciation of the U.S. dollar is going to come back and bite the economy in the tush, as was the case heading into 2016.”
And then there is the “hope this time is different” philosophy as well.
While you decide, here is what I am reading this weekend.
Trump, Economy & More Trump
- Don’t Trust Unemployment Rate by Doug Short via Financial Sense
- Sustaining The Trump Rally by Mohamed El-Erian via Project Syndicate
- 2 Reasons Trumponomics Will Not Deliver by Greg Silberman CFA via Harvest (HVST.com)
- No Recovery In U.S. Economy by Jim Clifton via Gallup
- Trump Will Send U.S. Into Recession by Avi Tiomkin via Forbes
- Taxes: Trump Should Copy Reagan by Larry Summers via Washington Post
- Economic Stupidity Of Carrier Handout by Kevin Williamson via National Review
- Forget The Trade Deficit by Greg Mankiw via NYT
- Why Trump Boom Is A Real Possibility by Ken Rogoff via Project Syndicate
- The Trouble With Trump’s Infrastructure Plan by Michelle Chen via The Nation
- Trump Doesn’t Herald New Paradigm Of Growth by Joachim Fels via PIMCO
- Trump Inherits Best Economy In A Generation by Chris Matthews via Fortune
- Donald Trump & The New Economic Order by Michael Spence via Project Syndicate
- Political Spin In Full Spin On Obama Economy by Ray Keating via Real Clear Markets
- To Save 800 Jobs, Trump Potentially Costs More by John Tamny via RCM
- What Trump Didn’t Learn From The Financial Crisis by Noah Smith via Bloomberg
- Wall Street Leading Sheep To Slaughter by David Stockman via Daily Reckoning
- Scariest Chart I’ve Seen In A Long Time by Bob Bryan via Business Insider
- Why Won’t The Fed Raise Rates? by Norman Mogil via SoberLook
- Rosenberg Throws Up ON “Trump Rally” by David Rosenberg via ZeroHedge
- Has Trump Unleashed The Dollar Bull by Alan Kohler via The Australian
- Bond Sell-Off Could Boost Stocks by Lee Jackson via 24/7 WallStreet
- Time To Take Profits From Oil Trade by Thomas Kee via MarketWatch
- Time To Party by Crystal Kim via Barron’s
- Market’s Love Trump Agenda by Charles Calomiris via E21.com
- 5 Reasons Stocks Are In Melt-Up Mode by Adam Shell via USA Today
- An Old Indicator Flashes A Red Light by Brett Arends via MarketWatch
- Where To Find Yield Now by Michael Kahn via Barron’s
- Trump Unleashes Market’s Animal Spirits by Marc DeCambre via MarketWatch
- Is Trump Rally Turning Into A Bubble by Sue Chang via MarketWatch
- Don’t Get Used To The Trump Rally by Bill Gross via Janus Capital
- Now Is The Time For More Credit Risk by John Coumarianos vis WSJ
- Euphoric Market Rally Could Be Derailed, Unless… by Paul La Monica via CNN Money
- Goldman Sachs’ Covert Scheme To Raise Oil Prices by Michael Covel via Daily Reckoning
- Best Investing Books Of All Time by R.J. Weiss, CFP via The Ways To Wealth
- CRE: Towers Of Gold To Pillars Of Salt by Danielle DiMartino-Booth via Money Strong
- Behavioral Insights On Financial Advice by Shreenivas Kunte, CFA via Enterprising Investor
- Just How Overvalued Is The Market? by Tyler Durden via ZeroHedge
- A Better Theory To Explain Manias by Noah Smith via Bloomberg
- Don’t Confuse Italy with Brexit by Therese Raphael via Bloomberg
- Passive Investors’ Pain Is About To Begin by Conor Sen via Bloomberg
- Obama Recovery Has Been A Myth by Terry Jones via IBD
- Repeating All The Mistakes Of The Great Depression by Scott Sumner via EconLog
- American Dream May Be Hard To Revive by Bob Davis via WSJ
- Dividends – The Good & Bad by Ironman via Political Calculations
- Corporate Taxes In A Trump World by Ed Yardeni via Dr. Ed’s Blog
- Amazon Unveils Major Job Killer by Golding, Massarella & Covert via NY Post
- It’s The “Fat Left Tail” That Gets You by John Hussman via Hussman Funds
- Stocks & Volatility Both Jump – Who’s Right? by Dana Lyons via Tumblr
- Corporate Valuations Back To Dot.Com Bubble Peak by Jesse Felder via The Felder Report
“Lesson number one: Don’t underestimate the other guy’s greed.” — Scarface
Film maker Michael Moore, who correctly predicted that Trump would win Michigan, Wisconsin, Ohio and Pennsylvania, is now predicting that something “crazy” could happen to stop Trump from being sworn in as president on January 20.
— Paul Joseph Watson (@PrisonPlanet) December 9, 2016
Appearing on Late Night With Seth Myers, Moore continually emphasized the point that Hillary won the popular vote, using that reasoning to argue that Trump’s presidency was illegitimate.
“He’s not president of the United States yet, he’s not president ‘til noon on January 20th of 2017,” said Moore as the liberal audience applauded.
“That’s more than six weeks away. Would you not agree, regardless what side of the political fence you’re on, this has been the craziest election year. Nothing anyone predicted has happened — the opposite has happened. So is it possible, just possible, that in these next six weeks, something else might happen — something crazy, something we’re not expecting?” added Moore.
Moore alluded to the potential for members of the electoral college to change their vote, but this is such a long shot it has virtually no chance of overturning the election result.
The only other avenue would be massive vote fraud being uncovered by Jill Stein’s recount, but this hasn’t happened and her efforts have basically flat lined at this point.
So what else could Moore be alluding to apart from some form of violent action to physically prevent Trump from taking the White House?
For the entire election cycle, the mainstream media has legitimized violence against Trump by hysterically pushing the idea that he represents a fundamental danger to the country and the world.
Violence at Trump rallies – proven to be bankrolled by the DNC – was also completely mischaracterized by the media and blamed on Trump.
An environment has been created that encourages crazed left-wing agitators to try and make themselves into martyrs by attempting to take Trump’s life before he can become president.
One assassination attempt was prevented when a British man tried to grab an officer’s gun at a Trump rally in Las Vegas and shoot the president-elect, a story that media hardly reported on.
If and when the next assassination attempt happens, and we can only hope it doesn’t, huge swathes of the far-left are so full of hatred and intolerance that they will celebrate Trump’s death like it’s the equivalent of Mussolini being executed.
Why does this...
Keep making us think of this...
Quite a Week: The Dow, S&P, and Nasdaq closed higher every day this week for the first time in 5 years
- Small Caps soared over 5% this week to record highs - 2nd biggest week since Jan 2013
- Treasuries dropped for 5th week in a row to July 2015 lows
- Gold down 5 weeks in a row to 10 month lows (longest losing streak since Nov 2015)
- Oil closed lower for the first week in the last 4
- USD Index up 4th of the last 5 weeks (highest weekly close since 2003)
And stocks were panic-bid again this afternoon...
Remember the Italy Referendum? Well inflows into European banks after that have NEVER been bigger...
It seems the VIX down, Stocks up relationship normalized today...
Small Caps are the biggest winners post Trump...
Financials and Energy continue to drive it all...
Look at the 'random' walk higher in financials... (and biotechs chaos)
"Most Shorted" stocks soared this week, though we note Friday saw the first down day in over a week...
Stocks are now the handy leaders on the year with the long-bond back to unch...
The USD Index soared post-ECB back to recent cycle highs...
The Loonie strengthened against the USD this week but Yen and Euro weakness were the main drivers of USD strength...
Treasury yields jumped across the curve with a notable steepening...
With the curve back near cycle steeps...
Crude ended the week unchanged...
Silver outperformed Gold this week
Gold is now down $190 from Trump-night highs to 10-month lows...
And finally... Friday Humor...
As momentum feeds on itself, it appears Trumphoria is in full swing...
Donald Trump’s election has fueled one of the broadest rallies in history as the number of stocks making new highs on the New York Stock Exchange climbed to the highest on a closing basis since May 2013.
Never mind that valuations are at 1929 peak levels...
In early 2009, roughly at the time when this blog was launched which coincided with the start of the greatest monetary experiment of all time, we warned that there are two ways it will end: either in hyperinflation, or a deflationary supernova, the failure of currency and, eventually, barter. Now, almost 8 years later, some of the world's top hedge funds are in agreement, and they are worried.
As the WSJ reports, these prominent hedge fund managers join an increasingly bigger and louder chorus which says central bank bond buying programs that are pumping trillions of dollars into global markets will end badly.
In yesterday's main event, the ECB said it would extend its asset purchase program to the end of next year, buying bonds at a reduced rate. As the following chart from BBG projects, at the ECB's revised rate of bond purchases, its balance sheet will soon surpass that of the Fed.
So what happens next? Prominent managers have told The Wall Street Journal in recent interviews of their doubts about the endgame for quantitative easing around the world.
“There’s no non-messy way out of this,” said Luke Ellis, chief executive of Man Group, one of the world’s biggest hedge-fund firms with $80.7 billion in assets. “There’s two versions” of how this ends, he added. Either central banks could move to so-called ‘helicopter money,’ where they buy debt from the government, which then spends the proceeds or gives it to the population to spend. This “for a few years looks golden then leads to hyperinflation,” he said. Or the speed at which money circulates within the economy could grind to a halt. “Then you effectively have a barter economy,” he said.
In a series of exclusive interviews with the Journal, hedge-fund executives overseeing around $280 billion in total highlighted a range of problems created by quantitative easing. The problems they highlight are precisely those that QE was designed to solve, and are exactly the same problems we warned about since the 2009, for which we have been repeatedly branded some variation of "fake news." Now the skepticism has become mainstream.
This is what, according to the hedge fund managers interviewed by the WSJ, will happen:
Damage to economic growth
Rather than kick-starting growth, quantitative easing may do the reverse. Some managers fear it distorts financial markets and undermines capitalism. That system relies on profit-hungry investors to differentiate between strong and weak companies—funding the strong while letting the weak die. QE, say some managers, doesn’t differentiate.
For instance, the Bank of England is buying the debt of firms it deems make “a material contribution” to the U.K. economy. That has led some investment banks and companies to create new debt especially for it to buy. The ECB has bought €48.2 billion ($51.2 billion) of corporate debt since June, but the hoped-for private-sector investment hasn’t materialized.
“What does a market do? It’s a voting mechanism,” said Michael Hintze, billionaire founder of hedge fund CQS, which runs around $12 billion in assets. “Instead you’ve got this 800-pound gorilla out there who’s hoovering up assets. “There’s a misallocation of capital and an opportunity cost to the real economy,” added Mr. Hintze, whose portfolio is up 30% this year, ranking it one of the world’s top-performing hedge funds. “It means GDP is not growing as much as it might.”
Some put it even more strongly. “It’s definitely destructive of economic growth,” said Crispin Odey, founder of Odey Asset Management, which runs $8.2 billion in assets.
“Capitalism dies a death,” said Mr. Odey, who sees government policy as the main factor influencing markets. His fund, a top performer after the credit crisis, is down sharply this year because of being too bearish. “It’s all policy. It’s the Kremlin. And I’m in the gulags.”
* * *
Damage to society
In her speech to the governing Conservative Party conference in October, U.K. Prime Minister Theresa May spoke of “some bad side effects” from quantitative easing as people with assets got richer while those without them suffered. U.S. President-elect Donald Trump has said low rates have robbed savers. Those side effects include “envy and distress” within society, “as people think ‘I can’t get out of where I am,’” said Andrew McCaffery, group head of solutions at Aberdeen Asset Management, who looks after $170 billion in assets.
Ultralow interest rates mean the large part of the population with few financial assets begins to despair of how to generate income to fund retirement, he said.
“People see a developing black hole,” he said. This “increases the sense of there being little to lose for many” people.
Andrew Law, chief executive of New York-based Caxton Associates LP, which runs around $7.8 billion, said quantitative easing averted economic depression after the financial crisis.
But he added: “The losers of QE are society, and democracy is also a loser, because central banks are not publicly elected officials.”
* * *
Quantitative easing was also introduced as a way of increasing private-sector spending and raising inflation. Some investors even worried it would spark hyperinflation and rushed to buy gold. Instead, say some managers, it has led to deflation.
“It took me a long time to work it out,” said CQS’s Mr. Hintze. “It’s a very complex issue.” He said that massive amounts of liquidity mean that “liquidity’s not worth much anymore,” which leads to negative interest rates. “I do think it [QE] is a massive deflationary force. The reason is because money is worth less but the price of real assets goes up.”
Mr. Odey said quantitative easing leads to deflation because weaker competitors are kept alive by cheap debt as “zombie” companies.
* * *
Finally, hedge-fund managers see difficulty in ending quantitative easing.
“Central banks are sadly helping to create the ‘black hole,’ and the sucking noise and pull is getting bigger,” said Aberdeen’s Mr. McCaffery, “but you just have to keep going as your alternative options as a central banker are just too unpalatable to consider.
Using an analogy we first came up with in 2009, McCaffrey slammed the use of a drug placebo to keep the system intact: “More methadone is not going to help, a form of cold turkey [is] needed, but no central bank is going to do that,” he added. He warns governments’ debt-to-GDP levels have risen.
“In the long term, it implies rates can never go up, as the damage will be extraordinary in nature,” he said, as they struggle with their debt loads. For now, however, the market which moments ago hit new all time highs, is blissfully ignoring all of the above.
Forecasting the future of currencies is a notoriously risky business. Forces may push them in a particular direction, as is currently the case with the dollar, but in the ever-changing environment of the foreign exchange market, events anywhere in the world, at any point in time, can alter their course. Nevertheless, the dollar is steadily strengthening, and it could create headaches in other parts of the world.
One of the biggest victims will be China. The Chinese yuan has been devaluing against the dollar for the past 18 months, a process that in itself leads to capital flight as investors try to flee the depreciating currency. This carries the risk of becoming a disorderly process, and China has spent a considerable share of its foreign exchange reserves trying to manage it. A strengthening dollar will put more pressure on China to burn through its remaining reserves even faster, eating away at the safety net it has built up over the past two decades.
Still, the countries most at risk from a strong dollar are those with hefty dollar-denominated debts. Ample foreign exchange reserves can help offset this problem, since they can be used to prop up national currencies or pay off corporate debts in a pinch. On the downside, a current account deficit (which arises when a country spends more abroad in its day-to-day activities than it receives) would exacerbate the issue, since it implies that money is naturally flowing out of the country.
The 2013 "taper tantrum" revealed five countries to be particularly at risk because of their large current account deficits and dollar-denominated debts: India, South Africa, Indonesia, Turkey and Brazil. But over the past three years, most of these countries have improved their financial standing and are less vulnerable than they were in 2013. The so-called Fragile Five could still be somewhat exposed, but now they are part of a much bigger pack.
Many emerging markets are saddled with significant dollar-denominated debts, too, and do not have abundant foreign exchange reserves to fall back on. Some of these countries' finances have improved since the taper tantrum, but as the dollar's value rises, they will find it harder to repay or refinance their debts, especially as the cost of swapping dollars on the open market rises. By all appearances, the strengthening dollar is an omen of the difficult year ahead for the world's emerging markets.
Still unable to accept the fact that running a failed candidate and/or failed democratic policies may have had anything to do with Hillary's loss last month, Obama has directed the "intelligence community" to conduct a "full review" of alleged Russian interference in the 2016 election.
Per The Hill, the review is slated to begin immediately with the goal of being presented to Congress before Obama leaves office on January 20, 2017.
President Obama has directed the intelligence community to conduct “a full review” of the 2016 election in light of reports of Russian interference, Homeland Security Advisor Lisa Monaco said Friday.
The report is expected to be completed and transmitted to Congress before he leaves office Jan. 20.
“We’ll see what comes out publicly,” Monaco told reporters at a Christian Science Monitor breakfast.
Monaco gave few other details about the report, other than to say that it will "capture lessons learned and ... report from a range of stakeholders to include their comments."
"This is consistent with the work we did over the summer to engage both the Congress and global stakeholders, in terms of providing them the information and tools to defend themselves," Monaco said.
While Hillary consistently said during the campaigning cycle that "17 U.S. intelligence agencies" had confirmed Russia's involvement in the hacking of John Podesta's emails, as WikiLeaks pointed out, those "17 intelligence agencies" actually came down to one very ambiguous comment, by Director of National Intelligence James Clapper, which actually offered no evidence and didn't actually confirm Russian involvement at all.
— WikiLeaks (@wikileaks) October 22, 2016
But we probably shouldn't let facts get in the way here.
Meanwhile, numerous politicians on The Hill, from Elijah Cummings to Republican Lindsey Graham, have also called for investigations into alleged Russian hacking.
A myriad of lawmakers have pushed for various investigations into the attacks.
A group of Senate Intelligence Committee Democrats, including Ranking Member Dianne Feinstein (D-Calif.), has urged Obama to declassify and release “additional information concerning the Russian Government and the U.S. election.”
Democratic House Whip Steny Hoyer (Md.) and six other ranking members on Tuesday urged the administration to brief Congress on the matter.
Oversight Ranking Member Elijah Cummings (D-Md.) and Rep. Eric Swalwell (D-Calif.) have announced legislation to create an independent commission to study Russian interference in the election.
Meanwhile, Graham said this week that he will spearhead investigations into the matter.
Again, we don't want to let facts disrupt the narrative too much, but as we pointed out yesterday, the only confirmed case of an actual hacking attempt related to the 2016 election to date originated at the Department of Homeland Security against the Georgia voter database. We wonder whether Obama's intelligence review will offer any insights on that incident?
According to leaked documents released by Edward Snowden, British intelligence spied on Israeli diplomats and military officials in 2008 and 2009, the French newspaper Le Monde and Israel’s Haaretz reported on Wednesday.
One of the files from 2009 said that “Britain’s GCHQ intelligence-gathering apparatus defined Israel as ‘a true threat’ to the Middle East”.
“The Israelis constitute a true threat to regional security, notably because of the country’s position on the Iran issue,” the file said.
The UK spy agency gathered data on the “second-highest ranking official in the Israeli foreign ministry”, who went unidentified by Le Monde and Haaretz. The two outlets also said that the UK gathered surveillance on the Palestinian Authority.
GCHQ tapped the phone of Palestinian Authority President Mahmoud Abbas in December 2008, weeks before Israel launched an offensive the following month.
GCHQ also monitored emails between Israel’s ambassadors to Kenya and Nigeria and the private Israel defence company Ophir Optronics.
During those two years, the UK spied on the Palestinian Liberation Organisation’s secretary general and several Palestinian diplomatic delegations, including former Palestinian prime minister Ahmed Qurei and Israeli-Palestinian parliamentarian Dr Ahmad Tibi.
The documents were released by Edward Snowden, the 33-year-old who is wanted in the US to face trial on charges brought under the Espionage Act after he leaked thousands of classified documents in 2013 revealing the vast US surveillance of private data put in place after the 11 September 2001 attacks.
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