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Monthly Archives: September 2011

Today’s Best Performing ETF’s

No. Ticker % Change
1 BXDC 9.31
2 FAZ 7.98
3 ERY 7.79
4 AGQ 7.09
5 TVIX 7.00
6 RETS 6.95
7 TMF 6.55
8 YANG 6.21
9 SRTY 6.15
10 LHB 6.04
11 TZA 6.04
12 SOXS 5.90
13 BGZ 5.72
14 TYP 5.64
15 MWN 5.63
16 SCO 5.57
17 UGL 5.48
18 SQQQ 5.41
19 DGP 5.40
20 DPK 5.27
21 BZQ 5.13
22 SPXU 5.07
23 SKF 4.83
24 VIIX 4.56
25 NUGT 4.54

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Obama orders EPA to back down on smog

I’m sure there’s an environmentalist somewhere angry because rampant unemployment and suffering is a small price to pay to have air that is .0002% more pure oxygen.

WASHINGTON (AP) — President Barack Obama on Friday sacked a controversial proposed regulation tightening health-based standards for smog, bowing to the demands of congressional Republicans and some business leaders.

Obama overruled the Environmental Protection Agency and directed administrator Lisa Jackson to withdraw the proposal, in part because of the importance of reducing regulatory burdens and uncertainty for businesses at a time of rampant uncertainty about an unsteady economy.

The announcement came shortly after a new government report on private sector employment showed that businesses essentially added no new jobs last month — and that the jobless rate remained stuck at a historically high 9.1 percent.

The withdrawal of the proposed regulation marks the latest in a string of retreats by Obama in the face of Republican opposition. Last December, he shelved, at least until the end of 2012, his insistence that Bush-era tax cuts should no longer apply to the wealthy. Earlier this year he avoided a government shutdown by agreeing to Republican demands for budget cuts. And this summer he acceded to more than a $1 trillion in spending reductions, with more to come, as the price for an agreement to raise the nation’s debt ceiling.

A spokesman for House Speaker John Boehner, R-Ohio, had muted praise for the White House, saying that withdrawal of the smog regulation was a good first step toward removing obstacles that are blocking business growth.

“But it is only the tip of the iceberg when it comes to stopping Washington Democrats’ agenda of tax hikes, more government `stimulus’ spending, and increased regulations, which are all making it harder to create more American jobs,” Boehner spokesman Michael Steel said.

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FLASH: Italian 10yr Bonds NOT Stable Anymore

Slowly but surely, the yields on Italian 10yr bonds have been rising, now +2.2% today to 5.25%.

Related: Spanish yields are +1% to 5.09%

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Turkey expels Israel’s ambassador

At the risk of angering some of you greatly, let me say Turkey would have never dared been so brazen while George Bush was president.

ANKARA, Turkey — Turkey expelled Israel’s ambassador and said Friday it is cutting military ties with the country over its refusal to apologize for last year’s raid on a Gaza-bound aid flotilla that killed nine people.

Turkey’s move came before the anticipated publication Friday of a U.N. report on violence aboard a Gaza-bound protest flotilla. The fatalities included eight Turkish nationals and one Turkish-American activist.

The report, obtained by The New York Times and posted on its website, said Israel’s naval blockade of Gaza is a “legitimate security measure.” But it also said Israel’s use of force against the flotilla was “excessive and unreasonable,” according to the newspaper.

An Israeli official said the report showed Israel’s naval blockade was in keeping with international law. He spoke on condition of anonymity because the report had yet to be officially released. He said Israel expected it to be made public by the U.N. later Friday.

Turkey has made an Israeli apology a condition of improving diplomatic ties. Israeli officials say the report does not demand an Israeli apology, establishing instead that Israel should express regret and pay reparations.

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