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Dr. Fly

18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.

Crazed Liberal, Assemblywoman Pamela Lampitt, Wants to Make Texting and Walking a Jailable Offense

This is overreaching in the first magnitude. Pamela Lampitt, the democrat assemblywoman from the disheveled area of Cherry Hill, NJ, wants to make texting and walking a criminal offense. More than that, she wants it enforced in such as way that it could incur jail time of up to 15 days, in addition to a fine, for bumping into folks on the sidewalk?

She cites some cock-eyed study of more than 11,000 cases that resulted in ‘some injuries.’ Her number one reason to pass such an Orwellian law is because ‘it’s just as dangerous as jay-walking.’

The fuck…out of here with this shit.

 

 

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Justice Department Drops Case v Apple After Accessing Phone

Something doesn’t smell right about this. Apple wins by being praised as the champion for privacy. The government wins by being able to access the phone, without the help of Apple.

Oh really?

Perhaps Apple made a backdoor deal to provide access, without making them look like the evil bastards that they truly are?

“The government has now successfully accessed the data stored on Farook’s iPhone and therefore no longer requires the assistance from Apple Inc. mandated by Court’s Order Compelling Apple Inc. to Assist Agents in Search dated February 16, 2016,” U.S. attorney Eleen M. Decker and assistant U.S. attorney Tracy L. Wilkison wrote.

The fuck out of here.

 

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Study: Theranos’ Lab Results Differ From Competitors By a Wide Margin

Theranos is full of shit, part 100.

I am sure board members, like George Shultz and Henry Kissinger, are wrought with confusion and anger over the spate of recent allegations depicting Theranos as a fraud, as its founder, Elizabeth Holmes, gallivants around town fundraising for H. Clinton.

According to a study done at the Icahn School of Medicine at Mount Sinai, cholesterol blood test results appreciably differed from competitors Labcorp and Quest. Naturally, both Quest and Labcorp could be the wrong parties and the college drop out, Elizabeth Holmes’ innovative finger prick results, might measure supreme in comparison. But, the Journal of Clinical Investigation thinks not and published this study, much to the chagrin of Theranos –who tried to coax them into shelving the story.

The good doctors from the Journal of Clinical Investigation told Theranos to fuck off and published said report with both vigor and tenacity.

The study included 60 healthy patients and the results were alarming. On average, Theranos was lower by 9.3%, compared to Quest and LabCorp, which is enough to halt doctors from prescribing statins to treat for high cholesterol.

According to the Dr. Schadt, professor and chair of Genetics at Mt. Sinai, the good folks from Theranos didn’t respond to his reports. He believes the pinprick results might’ve been tainted by dilution of the sample, or something of that magnitude.

The saga continues.

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Markets Close Flat; Weakness Abundant in Basic Resources

The Dow was up, NASDAQ lower and the S&P was flat, in a ‘do nothing’ session which was highlighted by a boring capitol hill shooting. Weakness was rife in the basic resource sections of the market, further emboldening my belief that to be short XLE, long SPY is a proper trade indeed.

Once again, treasuries were strong, as TLT straddles $130, in spite of the fact the market has rallied for six consecutive weeks.

Very soon, the market will turn towards profits and how the Fed might respond to growth or lack thereof. The opening salvo of 2016 was a mere appetizer for things to come. After the year is done, I expect to see inspirational sell-offs that rival the golden days of 2008.

Europe was closed today, due to Easter Monday (I have the slightest idea what that means), so today was sort of a do-nothing, watch lame shooting on the teevee, type of day.

The one bright spot from today’s tape were in the retailers. Perhaps there are people out there who believe the mall isn’t dead. Those people will be proven, inexorably, wrong–all in due time.

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D.C. Locked Down, Following Shooting in Capitol Hill, One Bystander Wounded

One capitol police officer has been shot in a shooting in the U.S. capitol visitor center. The shooter is in custody and the city is now in lockdown.

UPDATE: A police officer has NOT been shot. Those reports were false. A female bystander was injured by errant shrapnel. A male shooter has been shot and taken to the hospital.

UPDATE: DC police say this incident is under control and is an isolated event.

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Appeasement Fail: Castro Pens Scathing Letter Addressed ‘Brother Obama’

Don’t these do-gooders learn from history? It’s very hard to defeat a school bully with kindness, despite what the current moronic teevee programming will say. In the real world, you defeat a bully by punching his lights out. I know, I am being a very vulgar and discordant person, discussing such things in the open. But in less than one week after the ‘historic visit’ to Cuba, a rat’s nest of a place that didn’t even bother to greet our President at the airport, its leader, Fidel Castro, is throwing his feces at Barack Obama.

Here is my favorite part of the long winded letter.

 

Obama delivered a speech in which he used to express the most honeyed words: “It’s high time to forget the past, let the past, look to the future, let’s look together, a future of hope. And it will not be easy, there will be challenges, and these will give it time; but my stay here gives me more hope for what we can do together as friends, as family, as neighbors, together. ”

It is assumed that each of us risked a heart attack upon hearing these words of the President of the United States. After a merciless blockade that has lasted almost 60 years, and those who have died in the mercenary attacks on ships and Cuban ports, an airliner full of passengers detonated in midair, mercenary invasions, multiple acts of violence and strength?

No illusion that the people of this noble and selfless country give up the glory and rights is made, and spiritual wealth he has earned with the development of education, science and culture.

also warn that we are able to produce food and material wealth we need the effort and intelligence of our people. We do not need the empire regale us nothing. Our efforts will be legal and peaceful, because it is our commitment to peace and brotherhood of all human beings living on this planet.

 

Here is the letter in its entirety.

 

The kings of Spain brought the conquerors and owners, whose fingerprints were on the circular bundles of land assigned to the prospectors in the sands of rivers, abusive and shameful form of exploitation whose traces can be seen from the air many parts of the country.

Tourism today largely consists of showing delight landscapes and savor the food delicacies of our seas, and always to be shared with the private capital of large foreign corporations, whose profits if they do not reach the billions of dollars per capita are not worthy of some attention.

Since I was forced to broach the subject, I should add, especially for young people, that few people realize the importance of such a condition in this unique moment in human history. I will not say that time has been lost, but do not hesitate to say that we are not sufficiently informed, neither you nor we, knowledge and consciences we should have to face the realities that challenge us. The first thing to consider is that our lives are a historical split second, you have to also share with the vital needs of all human beings. One feature of this is the tendency to the overvaluation of their role, which contrasts with the other hand the extraordinary number of people who embody the highest dreams.

No one, however, is good or bad by itself. None of us is designed for the role it should take in the revolutionary society. In part, the Cubans had the privilege of having the example of José Martí. I wonder even if they had to fall or not in Dos Rios, saying “it is time for me”, and charged the Spanish forces entrenched in a solid line of fire. I did not want to return to the United States and no one who did return. Someone plucked a few leaves from his diary. Who bore the perfidious fault, that was certainly the work of some intriganteinescrupuloso? differences between the bosses are known but never indiscipline. “Whoever attempts to conquer Cuba will only gather the dust of her soil soaked in blood, if not perish in the fight” said the glorious black leader Antonio Maceo. It is also recognized in Maximo Gomez, the most disciplined and discreet military chief of our history.

Looked at from another angle, how not to admire the indignation of Bonifacio Byrne when, from the distant boat that brought him back to Cuba, at the sight of another flag next to Lone Star, said: “My flag is one that has mercenary ever been … “to add immediately one of the most beautiful phrases I never heard:” If undone in small pieces becomes my flag someday … our dead raising his arms to defend know yet …! “. Nor do I forget the words of Camilo Cienfuegos lit that night, when several dozen meters bazookas and machine guns of American origin, in counter hands, pointed to the terrace where we were standing. Obama was born in August 1961, as he himself said. More than half a century would pass from that time.

Let’s see how today however think our illustrious visitor:

“I came here to leave behind the last vestiges of the Cold War in the Americas. I came here extending the hand of friendship to the Cuban people. “

Immediately a flood of concepts, entirely new to most of us:

“They live in a new world colonized by Europeans.” US President continued. “Cuba, like the United States, was founded by slaves brought from Africa; like the United States, the Cuban people have inheritance in slaves and slaveholders. “

Native populations do not exist at all in the minds of Obama. Nor does it say that racial discrimination was swept away by the Revolution; that retirement and salary of all Cubans were enacted by this before Mr. Barack Obama fulfilled 10 years. The odious and racist bourgeois habit of hiring thugs to black citizens were expelled from recreation centers was swept by the Cuban Revolution. This would be remembered for the battle fought in Angola against apartheid, ending the presence of nuclear weapons in a continent of more than one billion people. That was not the goal of our solidarity, but to help the people of Angola, Mozambique, Guinea Bissau and other fascist colonial rule of Portugal.

In 1961, just two years and three months after the triumph of the Revolution, a mercenary force with cannons and armored infantry, equipped with aircraft, was trained and accompanied by warships and aircraft carriers in the US, raiding our country. Nothing can justify this premeditated attack that cost our country hundreds of killed and wounded. Pro-Yankee Brigade assault, nowhere has there could have evacuated a single mercenary. Yanks warplanes were presented to the United Nations as rebels Cuban teams.

It is well known military experience and power of that country. In Africa also they believed that revolutionary Cuba would easily put out of action. The attack southern Angola by the racist South Africa motorized brigades leads to the vicinity of Luanda, the capital of this country.Hence a struggle that lasted not less than 15 years starts. I speak not even this, unless he had the elemental duty to respond to Obama’s speech at the Gran Teatro de La Habana Alicia Alonso.

Nor I try to give details, only to emphasize that there honorably page of the struggle for human liberation was written. In a way I wanted Obama’s behavior was correct. His humble origins and his natural intelligence were evident. Mandela was imprisoned for life and had become a giant in the struggle for human dignity. One day I got my hands on a copy of the book in that part of the life of Mandela and oh, surprise !: was prefaced by Barack Obama is told. I flipped through quickly. It was amazing the size of the lowercase letter stating Mandela data. Worth having known men like that.

On the episode of South Africa I must point out another experience. I was really interested in learning more about how the South Africans had acquired nuclear weapons. Only had very precise that did not exceed 10 or 12 bombs information. A reliable source would be the professor and researcher Piero Gleijeses, who had drafted the text “Conflicting Missions: Havana, Washington and Africa 1959-1976”; an excellent job. I knew he was the safest source of what happened and so I communicated; I replied that he had not spoken about the matter, because the text had answered the questions of teammate Jorge Risquet, who had been ambassador in Angola or Cuban partner, close friend of his. I located Risquet; and other important occupations was finishing a course which was missing several weeks. That task coincided with a fairly recent trip to our country Piero; He had warned that Risquet this was some years and his health was not optimal. A few days later it happened what I feared. Risquet worsened and he died. Piero came when there was nothing to do except promises, but I had already made about what was related to that weapon and help that racist South Africa had received from Reagan and Israel.

I do not know what Obama has to say on this story now. I do not know what or did not know, although it is very doubtful that I knew absolutely nothing. My modest suggestion is to reflect and do not try now to develop theories about Cuban politics.

There is an important question:

Obama delivered a speech in which he used to express the most honeyed words: “It’s high time to forget the past, let the past, look to the future, let’s look together, a future of hope. And it will not be easy, there will be challenges, and these will give it time; but my stay here gives me more hope for what we can do together as friends, as family, as neighbors, together. “

It is assumed that each of us risked a heart attack upon hearing these words of the President of the United States. After a merciless blockade that has lasted almost 60 years, and those who have died in the mercenary attacks on ships and Cuban ports, an airliner full of passengers detonated in midair, mercenary invasions, multiple acts of violence and strength?

No illusion that the people of this noble and selfless country give up the glory and rights is made, and spiritual wealth he has earned with the development of education, science and culture.

also warn that we are able to produce food and material wealth we need the effort and intelligence of our people. We do not need the empire regale us nothing. Our efforts will be legal and peaceful, because it is our commitment to peace and brotherhood of all human beings living on this planet.

Fidel Castro Ruz

March 27, 2016

10 and 25 pm

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The Economy is Booming For the Bargain Bin Basement Cellar Dwellers

Hordes of insultingly obese Americans flood Walmart each and every day in search for discounts. This is a trend that is repeating itself over a wide swath of retailers. JC Penny was dead under Ron Johnson and Bill Ackman’s chic approach to servicing the welfare class. Since the two of them left JCP alone, both revenues and the share price have been on the mend.

JCP is up more than 60% for the year.

A whole slew of bargain bin basement cellar dwellers are up double digits in 2016, led by BURL.

discount

Have you ever been to a Burlington Coat Factory? Holy shit what a mess. There are zero attractive coats for those interested in looking halfway decent around other human beings. The place is packed in tight with heavy coats, most assuredly designed during the cold war to withstand a Soviet winter. There aren’t any sales people to help with your purchase. You must choose an oversized down coat, emblazoned with a brand name like ‘SOUTH POLE’ or ‘NORDIC FREEZE WINTER SKI’, lug it on over to the cashier and then pay for it with your foodstamps.

Truly, it is a most horrendous and damaging experience to the psyche to shop at BURL.

But our migrants and refugees love it. Ergo, the stock price for all of the discount, variety, carnivale clown stores, are soaring– up a handsome 13% as a group in 2016.

When America is fully communist, under the tutelage of someone like the dangerous Bernard Sanders, we will all be required to shop at Burlington Coat Factory for winter garb.

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Atlanta Fed: U.S. GDP Grew at 0.6% in the First Quarter

The always optimistic Atlanta Fed said the U.S. economy grew at a blistering 0.6% in the first quarter. This morning the inflation data suggested a reading well below 2% was likely for the foreseeable future and the never ending engine of growth, China, is enduring a wretched cap ex climate, whereby a mere 30 odd percent of firms are expanding.

Yet, our Fed is afraid of the economy overheating, declaring inflation the real enemy that must be defeated by impromptu interest rate hikes.

The 0.6 percent annualized pace for U.S. gross domestic product seen for the first three months of 2016 was slower than the regional Fed’s prior estimate of 1.4 percent on March 24, the Atlanta Fed said on its website.

Earlier Monday, the Commerce Department said domestic consumer spending edged up 0.1 percent after a downwardly revised 0.1 percent gain in January.

It also released an advance report on U.S. trade in February, which showed a trade deficit of $62.86 billion. This compared with a $62.23 billion trade gap in January.

My position is as clear as the day is long. I hope you took advantage of the Exodus trials and join us in our quest for financial excellence. I am long TLT, SPY and short XLE. I really do like that pair trade, as it gives me broader market exposure, while betting against the weakest links.

You have less than 1 month’s time to sell and board the ark. There is a storm coming and very few are going to make it through.

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Credit Suisse: Crude to $50 by May

This isn’t exactly a bold call. Oil demand always spikes this time of year. Let’s see how this analyst feels about oil in August.

Nevertheless, this CS analyst thinks crude gets to $50 by May.

I don’t like the call for a number of reasons, the first being oil is up 50% from the lows.

image

“Oil demand growth is alive and well,” he writes in a recent note. “We think that with hindsight this winter will look like a dip in an otherwise still unfolding fairly strong growth trend that is partly fueled by the ongoing economic recovery of in North America and Europe and longer standing trends across key emerging market economies.”

“While on balance oil demand growth appears relatively sluggish still in the first quarter; February data either improved on January (e.g. Brazil, the U.S.); or extended strong growth (e.g. India, South Korea), while in China demand appeared to have rebounded as well,” he writes.

“We forecast modestly re-accelerating demand growth over the course of this year, so long as a recession continues to be avoided,” asserts Stuart. “We project in fact that oil demand should continue to outperform historic correlations with industrial production.”

Since I’m short oil via XLE, I’d like to see this analyst trip and fall into a banana cream pie. Demand for crude ahead of the driving season is always robust. Like I said before, let’s see how things look in the summer.

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