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Monthly Archives: August 2012

Documentary: Why in the World are They Spraying

So there has been a lot of conjecture over this topic. Many people still believe this is not occurring. I found this to be an interesting case study suggesting that this is not some tin foil hat story.

“Nothing happens unexpectedly, everything has an indication, we just have to observe the connections.” unknown

Cheers on your weekend !

Click here for the documentary

[youtube://http://www.youtube.com/watch?v=n2bYJQFQMs8 450 300]

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Market Update

U.S. equities follow suit from Europe hoping for some clues out of Jackson Hole on QE.

Risk on today as equities try to pare yesterday’s losses.

Show me the crack says mother market.

Market update

3 D heat map 

European boards

[youtube://http://www.youtube.com/watch?v=qggxTtnKTMo 450 300]

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Gapping Up and Down This Morning

Gapping up 

SPLK +13.1%, SAI +13%, OVTI +8.1%, DB +3.8%, ING +3.5%, MT +3.5%,

SAP +2.9%, RIO +2%, GOLD +2%, MRK +1.6%, UBS +1.6%, TOT +1.5%,

FSLR +1.4%, RCL +1.3%,  TSYS +4.9%,  GLW +3.3% ,  TKC +3.3% , FFN +11.9%

Gapping down

ZUMZ -10.6%, GMAN -6.1%, GFI -3.4%, HMY -2%,  LAYN -0.5%, ESL -0.1%.

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Recovery? Employers Start Contributing to 401ks Again

“Those 401(k) programs that became 201(k) plans during the financial meltdown in 2008 are back in vogue, with employer participation returning to pre-crisis levels.

Some 73 percent of companies are offering matching contributions into the popular retirement programs, which saw savings rates and employer participation wane along with the plans’ value during the financial crisis.

Gallows humor at the time featured jokes that the 401(k) nest eggs had shrunk so much that they should be called 201(k) plans.”

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National Bureau of Economic Research’s Gordon: U.S. Economy May “Sputter Out”

“The U.S.’s best 250 years are behind it, Northwestern University professor Robert Gordonwrites in a paper published by the National Bureau of Economic Research, saying economic growth may gradually “sputter out.”

Gordon outlines how there was virtually no expansion before 1750 — before the American Revolution led to the creation of the U.S. The entire period since then “could well turn out to be a unique episode in human history,” he wrote in the paper published this week.

That questions the “nearly universal” view promoted by Nobel Laureate Robert Solow and others since the 1950s that “economic growth is a continuous process that will persist forever,” said Gordon, who is based in Evanston, Illinois, and turns 72 next week.”

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Old Man Buffet’s Railroads See a Slowdown in Pre-Holiday Shipping

“North American railroads from Warren Buffett’s Burlington Northern Santa Fe to CSX Corp. (CSX) are bracing for limited increases in pre-holiday shipments as weak consumer sentiment exacerbates shrinking corn and coal loads.

BNSF, which moves imported Asian consumer goods from West Coast ports, hasn’t seen a measurable gain in holiday-related volumes, Chief Marketing Officer John Lanigan said this week. CSX, the biggest carrier in the eastern U.S., and Canadian Pacific Railway Ltd. (CP) both forecast a “modest” advance.”

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The Dollar Hits an Eight Week Low as QE is Expected

“The dollar fell to an eight-week low against the euro before Federal Reserve Chairman Ben S. Bernanke delivers his annual speech on monetary policy at the central bank’s symposium in Jackson Hole, Wyoming.

The U.S. currency weakened against all but two of its 16 major counterparts after Atlanta Fed President Dennis Lockhart said yesterday the central bank has a tough decision on whether to add further stimulus to promote a stronger economic recovery. Bernanke’s address in 2010 preceded a second round of quantitative easing to support growth. Sweden’s krona rose by the most in two weeks against the greenback amid demand for higher-yielding assets.”

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The Bundesbank is Still Considered to Be Opposed to a Bond Buying Plan, Rumors Float of Resignation Over Discord

Germany’s Bundesbank declined to be drawn on whether President Jens Weidmann considered resigning over the European Central Bank’s plan to resume bond purchases, as tension between the two institutions mounts.

The Frankfurt-based Bundesbank has “no comment” on the report in today’s tabloid Bild newspaper, spokesman Michael Best said in a text message. Weidmann made his position clear in an interview with Der Spiegel magazine published Aug. 26, Best said.

Weidmann has considered quitting over the ECB’s plan to start a new round of sovereign bond purchases and discussed stepping down with the Bundesbank board, Bild said, citing unidentified people with knowledge of the situation. Weidmann, the only ECB council member opposed to the plan, has decided to remain in his post to defend his position at next week’s policy meeting, the newspaper said.

The euro declined to as low as $1.2493 this morning from $1.2520 overnight.”

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Spain Considers Bankia Re-Capitalization Without EU Money

Spain is considering pumping its own money into Bankia group to re-capitalize the country’s biggest nationalized lender rather than use the emergency portion of a 100 billion-euro ($125 billion) bailout from the European Union, two people with direct knowledge of the matter said.

This would allow Spain to put off forcing Bankia group’s junior debt holders to bear part of the rescue cost, said the people, who asked not to be identified because the negotiations are private. European officials backed burden sharing in the talks because it would limit the need for public money, the people said.

“The EU is telling the Spanish government that if they don’t produce this haircut, the money will have to put up by” Spain, said Alejandro Ruyra, an analyst at Kepler Capital Markets inMadrid, speaking on Bloomberg TV’s The Pulse. “The question is, does the Spanish government have that much money?”

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The Ukraine Tries to Avoid Austerity Measures by Borrowing From China

Ukraine is broadening its business ties with China as President Viktor Yanukovych sidesteps the conditions traditional partners such as Russia and the European Union are demanding to provide loans and investment.

Currency-swap and loan deals agreed since June may reach as much as $9 billion, raising China’s standing in Europe’s biggest iron-ore and corn exporter as the fastest-growing major global economy seeks to secure materials and food supplies.”

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Finland Says They Will Support EU Bailouts, Still Opposed to Common Bond Buying Plan

“Finland will throw its support behind the bailouts that are necessary to save the 17-nation currency bloc from splintering, while standing firm on its opposition to common bonds, Prime Minister Jyrki Katainen said.

Rescues “are difficult in all countries, Finland is no exception,” Katainen said in an interview in Helsinki yesterday. “We’ve taken part in all bailouts and we will continue to act responsibly. We’re looking for ways that don’t increase joint liability, but we do want to resolve the crisis.”

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S&P Cuts Sharp to Junk Status

Sharp Corp. (6753)’s credit rating was cut to speculative grade by Standard & Poor’s as Foxconn Technology Group said it was still renegotiating a planned investment. The stock fell 13 percent, and Sharp found a defect in some smartphone displays.

Standard & Poor’s lowered its long-term rating on the Osaka-based electronics maker by two levels to BB+, the highest non-investment grade, saying it suffers from weak cash flow and deteriorating market conditions. Sharp, which has the biggest percentage decline on the MSCI Asia Pacific Index (MXAP) this year, was kept on a negative ratings watch.”

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