Of the 30,470 firearm-related deaths in the United States in 2010, 19,392 (63.6%) were suicide deaths, and 11,078 (36.4%) homicide deaths.^[8] Source

• Of the murders for which the circumstance surrounding the murder was known, 41.8 percent of victims were murdered during arguments (including romantic triangles) in2010. Felony circumstances (rape, robbery, burglary, etc.) accounted for 23.1 percent of murders. Circumstances were unknown for 35.8 percent of reported homicides. (Based on Expanded Homicide Data Table 12.)
• Law enforcement reported 665 justifiable homicides in 2010. Of those, law enforcement officers justifiably killed 387 felons, and private citizens justifiably killed 278 people during the commission of a crime. (See ExpandedHomicide Data Table 14 and 15.)   
•  Handguns comprised 68.5 percent of the firearms used in murders and non negligent manslaughter in 2010 Source

Breakdown of murder from 200-1010:

• 111,289 Firearm
• 20,503 Knife
• 11,364 Other
• 10,079 Personal weapons
• 7,049 Blunt object
• 1,536 Strangulation
• 1,342 Fire
• 1,225 Asphyxiation
• 638 Drugs
• 239 Drowning
• 130 Poison
• 53 Explosives
• 35 Pushed/thrown out window Source

Markets climbed out of the hole with transports hitting 52 week highs and vol hitting 52 week lows. A serious conundrum that will bite our portfolios in the ass some day. Enjoy it for now ’cause it will not last….maybe until May, then go away!

DOW up 27

S&P up 1.6

NASDAQ down 6.7 thanx to $AAPL

WTI down $0.65

Gold up $ 9.4

Hilarious story!

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[youtube://http://www.youtube.com/watch?v=F7pYHN9iC9I 450 300]

“With banks having been the best DJIA sector in 2012, the outlook versus the valuation has started to play a game of catch-up as we are getting deeper into earnings season this week. Because the banks rose so much, they are in some cases priced for perfection.

24/7 Wall St. has decided to offer up a preview and earnings cheat sheet for the banking and finance sector’s key earnings this week. DJIA components Bank of America Corp. (NYSE: BAC) and J.P. Morgan Chase & Co. (NYSE: JPM) are on deck, as are key financial giants like Goldman Sachs Group Inc. (NYSE: GS), Citigroup, Inc. (NYSE: C), Bank of New York Mellon Corp. (NYSE: BK), and others….”

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I’ve written two, maybe three times on this subject over the few years.

I firmly believe that despite all the talk of budget deficits we will continually find ways to expand the money supply to boost growth.

Modern economics warrants that after a large recession from a busted bubble, you must reintroduce the money lost in the bubble and in some cases add the equivalent of your existing outstanding debt obligations.

That would mean we have to print a boatload more of dead presidents…so to speak.

Infrastructure is a great way to spend with better returns than war and other wasteful spending like bogus agencies.

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B.I. says over a 100 charts have surfaced in the last 24 hours on $AAPL and pointed out 4 key charts for you to keep in mind.

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Markets yawn over the announcement as there is no clear path to revenue generation….

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“In Cleveland, you can walk out in the street buck naked.”

Markets are off to a skittish start this morning. Nothing too serious in the broader averages, but technology….AKA $AAPL is killing the NASDAQ.

Precious metals are up nicely as we await full commentary from the bearded clam.

It appears that WTI and the broader markets are starting to pare losses.

The dollar is weak against some of its major peers.

Market update

LMAO

“In President Obama’s drive to curb gun violence in the wake of the Newtown tragedy, he and VP Joe Biden have mentioned on several occasions the possibility of executive action or an executive order on some aspects of gun control.

The very threat of such an act has stirred many conservatives to respond passionately in opposition to such a possibility, none more so than Texas Congressman Steve Stockman.

In a statement released Monday, Stockman said: “The White House’s recent announcement they will use executive orders and executive actions to infringe on our constitutionally-protected right to keep and bear arms is an unconstitutional and unconscionable attack on the very founding principles of this republic.”

So far, Mr. Obama’s statements on the subject of executive action on gun control have been given with the caveat that he will only consider it if Congress doesn’t act. CBS News correspondent Major Garrett reports the only area the president mentioned dealt with improved tracing at the federal level of guns sold to or stolen by criminals.

Still, that didn’t stop Stockman from making threats if Obama took “actions (that) are an existential threat to this nation.”

In his statement, Stockman said he “will seek to thwart this action by any means necessary, including but not limited to eliminating funding for implementation, defunding the White House, and even filing articles of impeachment.”

The president appears to have been prepared for such an impassioned response to his push for strong gun control regulations. At a Monday press briefing, the president acknowledged the fervor of gun rights advocates….”

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“Profits have reached a record 11 percent of gross domestic product, which would normally make you bullish about stocks.

But not this time around, according to Jeremy Grantham, chief investment strategist of money manager GMO, The New York Times reports.

Much of the problem stems from the fact that companies are boosting their profits through borrowing money, he says. Corporations issued a record of more than $1 trillion of debt last year….”

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“More Americans are working well past the normal retirement age of 65.

Research from the AARP Public Policy Institute shows the number of people aged 75 or older who are still working has skyrocketed, USA Today reports. This pool of workers has grown more than 76 percent in 20 years and made up 7.6 percent of the U.S. labor force in 2012.

Though most people clearly still retire before 75, research confirms that there is a growing trend of people working longer.

The average retirement age for men has increased to 64, and the average age for women has increased to 62, according to data from Center for Retirement Research at Boston College cited by The New York Times.

Some individuals are postponing retirement because they feel that they have to. As the nation recovers from a recession and the cost of living rises, many who are old enough to retire feel that they cannot afford it.

Findings from a Gallup poll last year revealed only 38 percent of respondents believed that they would have enough money to retire comfortably. That was a new low….”

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“Reserve Chairman Ben Bernanke indicated that the central bank is weighing the potential costs from its $85 billion in monthly purchases of bonds while saying the unorthodox easing bolsters the economy.

“So far, we think we are getting some effect, it is kind of early,” Bernanke said Monday at the University of Michigan’s Gerald R. Ford School of Public Policy in Ann Arbor. “We are going to continue to assess how effective” the program is “because it is possible that as you move through time and the situation changes that the impact of these tools could vary.”

The Federal Open Market Committee last month decided to add $45 billion in monthly purchases of U.S. Treasury notes to its program buying $40 billion of mortgage-backed securities each month. The committee set no limit on the size or duration of the bond purchases….”

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“Apple’s warranty plans have drawn the ire of a Belgian consumer watchdog agency, Test-Aankoop/Test-Achats. The group has filed a complaint against the company over how AppleCare is sold and marketed to customers, who in the EU by default are entitled to a free two-year warranty with any consumer electronics purchase. The complaint says Apple markets its warranties in a manner which doesn’t properly explain consumer rights to Belgian gadget shoppers.

The decision to pursue legal action comes only after Test-Aankoop/Test-Achats decided to join up with 10 other Europe-based entities to make complaints about how Apple operates its warranties, but now the group feels it is time to escalate to a court case after efforts to petition the Mac maker have gone unheard. The move also follows successful action in Italy regarding the same exact issue, a case which the Belgian watchdog cites as a precedent, noting that Apple not only had to pay a €900,000 penalty in that case, but also modified its practices for the Italian market….”

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In the past there was some balance based upon push and pull, but today all players are in one sided push action. We must ask what are the consequences and for how long can the insanity last?

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“Just as the president reminded us yesterday we are not a deadbeat nation, merely borrowing money today to pay the bills of yesterday, so, as theNY Times reports in this all-too-real article, many of the citizens of the US are also living not just paycheck-to-paycheck but short-term-loan-to-short-term-loan. As one debt-consolidation service noted “They’ve been borrowing just to meet payments on previous loans; it builds on itself.” Rings an awfully loud bell eh? (and yes, we know the government’s finances are not run like a households – though at some point the check book needs to balance). People in tough ‘economic’ situations fall into the ‘poverty trap’, borrowing money at ever higher interest rates in a shell game to keep previous borrowers at bay. The average debt for households earning $20,000 a year or less more than doubled to $26,000 between 2001 and 2010 – as people dig deeper, precisely because they long to escape. As the focus of the article notes, “the belt-tightening was the easy part… the larger problem was cash-flow.” Critically, experiments show that ‘economic’ scarcity by itself – independent of personality or any other factors – fuels a drive to borrow recklessly.

Via NY Times:

The belt-tightening was the easy part. Cancel the cable. Skip the air conditioners. Ration the cellphone, unplug the wireless Internet, cook rice and beans — done, and done. The larger problem for LaKeisha Tuggle, 33, who had lost her public relations job, was cash flow: After her unemployment insurance and savings ran dry, there was none.

 

…”

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“The United States is a nation in decline. Last year the land of the free and the home of the brave came in 10th place in the annual rankings of World’s Happiest Countries. This year the U.S.A. has slipped to 12th.

This marks the first time in the six-year history of the Legatum Institute‘sProsperity Index that America has not placed in the top 10….”