iBankCoin
I've been doing this a long time.
Joined Oct 7, 2015
68 Blog Posts

ThinkProgress: The Hunt for Manhattan Bomber was “Racist”

You cannot make this shit up. Liberal shit-rag ThinkProgress believes that using Emergency Alerts to track down Islamist terrorist bombers injures brown people.

Mind Blown.

From The Daily Caller:

ThinkProgress published a piece warning that the high-profile manhunt for alleged Manhattan bomber Ahmad Khan Rahami promoted panic and racial hysteria rather than vigilance and safety.

The main source of ire for ThinkProgress tech reporter Lauren Williams is authorities’ use of a wireless emergency alert (WEA) to let New Yorkers know who officers were looking for and encourage them to send in tips.

“The move drew immediate criticism for stirring up public fear, which could have potentially resulted in innocent individuals being wrongly targeted by citizens aiding police efforts,” Williams says in the piece. “While New York was within its rights to use the WEA system following the bombings, the incident raises intersecting questions about the over-criminalization of people of color [and] how they are treated by law enforcement.”

Heavy media coverage of the Rahami manhunt ended up being critical to his capture. Rahami was identified by a bar owner who recognized him from television and notified the police, who quickly arrived and captured Rahami after a brief shootout.

These Social Justice Warrior fuckheads need to be condemned, loudly.

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The Absurd Hysteria Surrounding Apple Product Launches

imageNow that Apple has announced the iPhone7 and the 2nd-gen Apple Watch, we can once again sit back and watch the hysteria surrounding the event.

No, I am not talking about the fanatical devotion seen at Apple Stores around the world (especially Asia), with nutcases camping out on sidewalks for three days, living on Pringles, beer and dried sardines – and (one can only assume)  pissing and pooping in plastic bags, just to be the first to have a new smartphone.

I am speaking about the hundreds if not thousands of asshole journalists and bloggers who cravenly write clickbait articles designed to generate three cents a click to add to their meager bank accounts and/or garner their share of followers on Twitter.

These missives run the gamut from Tim Cook hit pieces (never mind the enormous cash flow generated under his watch) to lame screeds from junior analyst clowns on  Marketwatch. Only with Apple, will selling out your product on the first day be seen as a negative. At least the phones are not fucking catching fire or exploding. You can just imagine the histrionics online if it was iPhones blowing up on airliners.

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Sorry, Samsung, but Amazon already has a patent on a device named Fire.

One poor schmuck (not sure if he slept on a sidewalk for his Galaxy Note 7) claims his SUV caught on fire while his smartphone was charging via the 12V socket. I wonder how he took this pic? Perhaps on his old iPhone:

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Here is the winner of the Maven Clickbait Sweepstakes so far – from a CNBC cub reporter:

http://www.cnbc.com/2016/09/09/chinese-apple-addicts-wont-be-selling-their-kidneys-for-an-iphone-7-anytime-soon.html

We are all relieved that tech-crazed Chinese are not selling their internal organs to buy a smartphone, as if this has been an ongoing issue in China. Cha-Ching (no pun intended) – another three cents.

Meanwhile, back in Cupertino, California, Apple is aggressively moving into the real-time medical data business via the iPhone and Watch. Apple Pay is being introduced in Japan (their preferred way of paying for things). A GPS incorporated into the 2nd-gen Watch opens up all sorts of App development (I will be buying one for my golf game).

Faster processors, and other improvements be damned? Do people really think Apple, or any company, is going to invent something with the impact of the original iPhone every goddamned year? It seems that anything less is seen as failure. Never mind the R&D spend, currently estimated at over $10 Billion for 2016.

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Am I one of the dreaded Apple Fanboys? Goddamned fucking right I am. I view your hysterical bleating as mildly annoying noise. Perhaps you see no new product coming from an amount of cash that most companies would kill for as a yearly profit.

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DISCLAIMER: long AAPL now going on 12 years. If it goes up from here, feel free to thrown rose petals at my feet. If it goes down, your losses mean absolutely nothing to me. I will reinvest my substantial dividends and laugh at you from my Ivory Tower. Trade accordingly.

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EU Move Against Apple Will Backfire – Badly

Apple is the victim of anti-U.S. bias and the European Union’s 13 billion-euro back tax ruling is “total political crap,” according to the iPhone maker’s chief executive, Tim Cook.

In an interview with the Irish Independent (http://www.independent.ie/business/irish/no-one-did-anything-wrong-here-and-ireland-is-being-picked-on-it-is-total-political-crap-35012145.html), the Apple (AAPL) boss firmly defended the company’s tax arrangement with Ireland, which, according to the EU, allowed the iPhone maker to pay substantially less tax than other businesses.

“No one did anything wrong here, and we need to stand together. Ireland is being picked on, and this is unacceptable,” he said in the interview published Thursday.

Steve Jobs and Tim Cook did not give two fucks about your Adobe Flash.
Tim Cook gives zero fucks about the European Union

Tim Cook says Apple could start moving some of its profits from its international operations to the U.S. next year

Apple Inc. Chief Executive Tim Cook said the company may repatriate at least some of the billions of dollars of cash it holds offshore as early as next year, in comments made in the wake of a 13 billion euros ($14.5 billion) tax clawback decision by European authorities.

Apple (AAPL) holds about $215 billion in cash and other liquid investments offshore.

The Apple boss also slammed the commission for appearing to focus on U.S. companies in its probes.

“I think that Apple was targeted here,” he said. “And I think that (anti-US sentiment) is one reason why we could have been targeted.”

“People in leadership positions in several countries tell me that this is the agenda. I don’t know where that comes from. But what I feel strongly about is that this decision was politically based, of that I’m very confident. There is no reason for it in fact or in law.”

Ireland has declared that it will appeal the ruling.

You want $15 billion of our cash? Fine, we’ll remove the other $200 billion from your banks. Oh and fuck you.

“You better start swimming or sink like a stone, cause the times they are a-chaaaaanging”

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Abenomics, Grandma Yellin, Asshole Oil Futures Traders, MIssiles From Yemen, Frexit and More!

 

I don’t know where to begin.

I woke up early this morning to the usual smack across the face by my fucking dog at 5am and upon checking messages, saw that my Love’s mom had called me. Knowing that she (Love) had only recently emerged from Hospital after having some internal bits rearranged, I feared the worst. Turns out 90-yr old Mom had pressed the wrong button on the iPhone. OK, on to today’s news:

newPic_8936_PNG_3444023bGrandma Yellin speaks today at Jackson Hole, Wyoming. A place you never want to go to unless you are skiing and it is March. Apparently, she has said Cautious Things and one of her butt-boys has said Hawkish Things and the DJIA has been bouncing around like a ping pong ball in Rio ever since. Yellin is the worst Fed Chair in my lifetime.

20160426_150754000_iOSIranian Revolutionary Guards posing as Yemenis have lobbed missiles of some sort that have landed somewhere in the vicinity of some Saudi oil operation, causing panic amongst amateur futures traders. Then again, *anything* can cause panic among amateur futures traders who are clueless morons. Oil has retreated from it’s spike over the bogus news from the Kingdom. I picked up some $DWTI on the news.

imageJapan: Annual deflation deepened last month, with consumer prices falling by 0.5% in the year to July. It followed a 0.4% drop in June and was the biggest fall in more than three years as businesses delayed price hikes because of weak demand. Conclusion: Abenomics has nowhere to go, the Japanese are practically begging Yellin to raise rates, not gonna happen, Abenomics is fukado.

Generated by IJG JPEG LibraryMarie le Pen has fired the next salvo across the bow of the endangered European Union as she ramps up her call for “Frexit”. In other EU news, the British Pound is up smartly as Q2 numbers look good. Italy and Austria hold EU-Exit referendums in October.

 

 

 

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Obama golfs while Baton Rouge drowns

“We can talk about what happened for a few days in 2005 and we should,” Obama said. “We can talk about levees that could not hold … about a president who only saw the people from the window of an airplane instead of down here [on the ground], trying to provide comfort and aid. We can talk about a trust that was broken.”

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And now we have the Divider-in-Chief, golfing on lovely Martha’s Vineyard (on the ground, wrong state) and claiming he is staying away from Baton Rouge because his presence will be a “hindrance to first responders on the ground”.

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Here is video of Donald Trump “hindering” first responders on the ground:

Can’t you smell the stinking, stewing, fetid hypocrisy here? Oh and did the mainstream press eviscerate Obama as they did Bush? Hell no, don’t be a naïve fucking moron.

UPDATE: two hours after GOP Presidential Candidate Donald Trump got “on the ground” in Baton Rouge too see the devastation first-hand,  help hand out out food and give some hope to the devastated citizens of Baton Rouge, Obama announced he will visit…next Tuesday. One can only assume there is a bit more “work” needed on his short game.  <spit>

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Greed and Stupidity in the Crude Oil Futures Market

Sept Contract futures jumped 50 cents on this news:

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum. Reserve) decreased by 2.5 million barrels from the previous week. At 521.1 million. barrels, U.S. crude oil inventories are at historically high levels for this time of year.. Total motor gasoline inventories decreased by 2.7 million barrels last week, but are well above the upper limit of the average range. Finished gasoline inventories increased while. blending components inventories decreased last week. Distillate fuel inventories. increased by 1.9 million barrels last week and are near the upper limit of the average. range for this time of year. Propane/propylene inventories rose 1.8 million barrels last. week and are at the upper limit of the average range.

Total commercial petroleum. inventories increased by 1.3 million barrels last week.

Put simply, we are running out of places to put stuff. Labor Day in the USA is just around the corner, signaling the end of driving season. After that, gasoline consumption will decline. There is a reason refiners have been getting clobbered lately. Speaking of refiners, maintenance season looms and gasoline production must switch to the winter blend.

Oil production in the US actually increased, which should not be all that surprising as the number of active rigs has been rising all summer. Here in tax-heavy Connecticut 87 Octane is selling for $2.15/gal which means most of the country sans California should be well under $2.

Producers aggressively hedged when futures briefly peaked above $50 earlier this year. Expect more of the same, which is the great catch-22 of the whole game.

Iran is already balking at the notion of freezing OPEC output at current record levels. We saw the same scenario with the failed meeting in Doha.

Saudis and Russians are pumping furiously to maintain market share.

Iraq is moving forward with ExxonMobil and Royal Dutch Shell to ramp up production.

Of course the market makers at sites like investing.com are furiously pumping WTI, Brent, NatGas and even Copper on the news.

 

Situation Normal, All Fucked Up

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Bloomberg: Crude price freeze will never happen

If this all seems familiar just think back to the failed Doha meeting a few months ago. It’s Deja Vu all over again.

Liam explains it all to you:  Click here

Saudi hint of action on production won’t get past the talking stage.

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Hong Kong Property Stocks Are Hottest Since Eve of 1997 Collapse

Inside the Exodus community notes area the other day, someone said he “had a weird feeling” re the overall market.

That is the feeling of Impending Doom, son. Calm before the storm, irrational exuberance, Sword of Damocles,  that sort of thing.

 

Hong Kong real estate shares haven’t been this hot since the city’s last housing bubble burst almost two decades ago.

Source: Hong Kong Property Stocks Are Hottest Since Eve of 1997 Collapse

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Saudi Arabia Said to Have Offered $4 Billion to Banks – Bloomberg

It’s a Race to the Bottom between Saudi Sovereign Wealth and American Shale Producers. 2017 will be the Year of the Shakeout.

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Saudi Arabia’s central bank offered lenders short-term loans in late June to help ease liquidity constraints, according to five people familiar with the matter.

Source: Saudi Arabia Said to Have Offered $4 Billion to Banks

It is just not working out the way the Saudis thought it would, as US creditors have gone out on some shaky limbs to prop up their disastrous oil investments as well.

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China’s debt problem is worse than expected, Moody’s warns

China’s “shadow banking” system is masking the rise in indebtedness in China, Moody’s Investors Service said in a report Wednesday.image

“The growth in overall leverage may be understated, because some of the fastest growing components of shadow banking are not included in TSF (total social financing),” said Michael Taylor, Moody’s chief credit officer for Asia Pacific.

We estimate the potential understatement to be significant, amounting to at least RMB16 trillion ($2.4 trillion) or 23 percent of GDP at end-2015, equivalent to around one-third of shadow banking,” Taylor added.

Moody’s said TSF flows were being sustained by formal bank credit flows supported by accommodative monetary policy.

The increasing leverage was worrying.

“The rise in overall leverage and further expansion of shadow banking activity are pushing up financial risks,” said Stephen Schwartz, a Moody’s senior vice president.

Moody’s had a Aa3 rating on China but lowered the outlook on the country’s credit rating from stable to negative in March.

chinashadow

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