TagsTransfersAbout the authorCarlos VolcanoShare the loveHave your say Barcelona comms chief Vives denies Valdes kicked out back doorby Carlos Volcano15 days agoSend to a friendShare the loveBarcelona comms chief Josep Vives denies the club kicked Victor Valdes out the back door.Valdes was sacked as U19 coach this week.Vives said, “It is a technical decision and it is not the responsibility of any spokesperson. The club always tries to make people, not just the referents, leave in the best way possible. “We disagree with the issue that Valdés has gone out the back door.”He added: “It always hurts when a person leaves the club, and more with the history of Victor. The club wanted it to work well and that his stage was long and successful.”
Advertisement Login/Register With: They came with a hope to lift people’s spirits, just for one night, and under a Broncos’ green stage, country musicians put on an electrifying, upbeat show on Friday night that came in stark contrast to the sadness of the weeks before.Survivors of the Humboldt Broncos’ bus crash, and families of those impacted by the April 6 tragedy, had front row seats at a Saskatoon concert that featured star-studded talent, including Dallas Smith, Chad Brownlee, Brett Kissel and Jess Moskaluke.Those family members exchanged smiles and hugs, while some got on their feet and danced through the performances.Stage lit up Bronco green #HumboldtStrong pic.twitter.com/tiQpJnYqqT— Bridget Yard (@YardCBC) April 27, 2018 Advertisement SaskTel Centre filling up for Humboldt Broncos’ tribute concert. pic.twitter.com/QUARutvZte— Olivia Stefanovich (@CBCOlivia) April 28, 2018‘Tonight, it’s OK for us to smile,’ says premierAs he thanked first responders and medical staff for their response in the wake of the tragedy that claimed the lives of 16 people, Premier Scott Moe said the province has been through a dark time but that there was light on the horizon. Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment Dallas Smith performs during the Country Thunder Humboldt Broncos tribute concert in Saskatoon on Friday. (THE CANADIAN PRESS/Liam Richards) Facebook Twitter
Roger Deakins accepts the award for best cinematography for “Blade Runner 2049” at the Oscars on Sunday, March 4, 2018, at the Dolby Theatre in Los Angeles. Venerable cinematographer Deakins will be honoured at next month’s Toronto International Film Festival. THE CANADIAN PRESS/AP-Photo by Chris Pizzello/Invision/AP Login/Register With: Facebook Advertisement Deakins’ previous Oscar nominations include work on “Sicario,” “Skyfall,” “True Grit,” “Fargo,” “No Country for Old Men” and “The Shawshank Redemption.”His latest work will be seen in the “The Goldfinch,” which will have its world premiere at the Toronto festival.As previously announced, the TIFF Tribute Gala fundraiser on Sept. 9 will also honour actors Meryl Streep and Joaquin Phoenix, and filmmaker Taika Waititi.Streep and Phoenix will each get a TIFF Tribute acting award while Waititi will receive the TIFF Ebert director’s award.The Toronto film fest runs Sept. 5 to 15.The Canadian Press TORONTO — Venerable cinematographer Roger Deakins will be honoured at next month’s Toronto International Film Festival.The 14-time Oscar nominee, who won the golden statuette last year for “Blade Runner 2049,” will get the Variety Artisan Award at the TIFF Tribute Gala.TIFF says the award “recognizes a distinguished filmmaker who has excelled at their craft and made an outstanding contribution to cinema.” Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment Advertisement Twitter
OTTAWA – Prime Minister Justin Trudeau has spoken to German Chancellor Angela Merkel about making progress on climate change and combating protectionism when they meet at the G7 next month in Quebec.Both are hot button topics with President Donald Trump, who will be making his Canadian debut at the June 8-9 gathering in Quebec’s Charlevoix region.Merkel is the G7’s longest-serving leader and has clashed with Trump in the past, including at his first summit last year in Italy.Trump’s trip to Canada is generating concerns among diplomats and analysts that Trudeau could wind up hosting a summit that could fracture the G7 into a so-called six-plus-one configuration with the U.S. as an outlier.A top European Union official who will be at the table with Trump and Trudeau next month has blasted the U.S. president over his recent decision to withdraw from the Iran nuclear agreement.“With friends like that, who needs enemies?” EU Council President Donald Tusk said in Bulgaria on Wednesday.The EU is a full member of the G7 which means Tusk and European Commission President Jean-Claude Juncker will join Trudeau, Trump and the leaders of Britain, France, Germany, Italy and Japan at the leaders’ summit.Trudeau and Merkel also spoke about the need to make “meaningful investments” on educating girls and women in crisis settings, a topic that the prime minister is being pushed to champion by leading aid agencies and anti-poverty groups.The two leaders spoke Tuesday while the prime minister was in Edmonton, but his office released an account of the call on Wednesday.Trudeau has tried to find common ground with Trump on gender equality, which is an overarching theme for the prime minister’s chairmanship of the G7.Also on Wednesday, a Canada-U.S. women-in-business group created by Trudeau and Trump released its fourth set of recommendations.The group is trying to remove barriers to female entrepreneurs, and its latest report makes $1.4 billion in new financing from the Business Development Bank of Canada available to women entrepreneurs.— with files from the Associated Press
PRINCE GEORGE, B.C. – Officials with the BC Wildfire Service say that while fire crews got some cooler temperatures over the past few days, the heavy smoke covering the province is causing complications for those battling the flames from the air.Fire Information Officer Amanda Reynolds with the Prince George Fire Centre said that some of the helicopters and air tankers that have been employed against the wildfires burning in the Vanderhoof area have been forced to stay on the ground due to a lack of visibility.She said that the thick, heavy smoke has reduced visibility to less than one nautical mile in places, meaning aerial firefighting aircraft can’t fly since they operate under visual flight rules. Reynolds said that there are currently no wildfires of note burning in Northeast B.C., though there are currently 545 fires burning across the province.She said that wildfire crews are continuing to fight several major wildfires that have caused residents of 2,400 properties to be forced from their homes and left thousands more on evacuation alert.An interactive map of all current active fires burning in B.C. can be found here: https://governmentofbc.maps.arcgis.com/apps/MapSeries/index.html?appid=ef6f11c8c36b42c29e103f65dbcd7538The following is the latest information on some of the major fires around the province:Shovel Lake (R11498)Last updated: Monday, August 20, 2018 at 12:01 PMLocation: approx. 6km north of the community of Fraser Lake• See approximate location of this wildfire on an interactive map• View an interactive map of all active Wildfires of Note. Discovered: Friday, July 27, 2018Size: 84,793.7 hectaresCause: Under InvestigationResources• 253 firefighters• 8 helicopters• 52 heavy equipmentIn addition, 37 support personnel, 8 helicopters and 17 structural protection staff are shared amongst all fires comprising this complex and are utilized according to areas of highest risk � life and property being the number one priority. Status: ActiveThe Shovel Lake fire remains active, and has currently been mapped at 84,793.7 hectares using high level infra-red scans.Today on the south of the fire, ground crews are working to mop up sections of the fire on the southern perimeter where the successful burn-off occurred by Stern Lake several days ago, and will continue to push guard in on the southern flank of the fire along the PNG pipeline path.The east side of the fire was active yesterday and crossed over the Settlement Road, moving through some heavy timber and into a field, moving under the burn scar from last year. Heavy equipment and crews worked to tie this back in to the perimeter yesterday and will continue with these efforts today as fire activity has continued in this area. Crews are conducting minor burn-off operations to fortify the containment lines on the southeast corner as operable conditions allow. The fire has not moved closer to Fort St. James on the east or north sides, and heavy equipment continues to build guard starting at the Sutherland FSR and links to Dog Creek Trail, with the containment line on the southern perimeter running north of the PNG pipeline and Stella Rd. This continuous guard veers northward to wrap up the eastern side of the fire, crossing Barlow FSR and extending northward utilizing the Bud Rd.As visibility allowed, water skimming aircraft worked on the Hannay Road guard on the west and northwest sides of the fire to assist equipment and crews on the ground yesterday. Aircraft will be used today to support ground crews’ continued efforts if the smoky conditions allow, but the smoke is very thick over the fire this morning.Structural firefighters and structural protection specialists continue to work on the Stella Road, Nadleh Whut�en, and Settlement Road areas to protect structures and ensure sprinkler systems are properly in place. Structural protection crews will demobilize equipment off of properties that are no longer at risk. Night crews were assigned to active sections of the fire last night to keep communities and structures safe.While the BC Wildfire Service appreciates the support from the local communities, we are unable to accept or facilitate donations at the Fraser Lake fire camp. Instead, please consider donating to groups supporting wildfire evacuees in affected areas.While the BC Wildfire Service appreciates the support from the local communities, we are unable to accept or facilitate donations at the Fraser Lake fire camp. Instead, please consider donating to groups supporting wildfire evacuees in affected areas. Nadina Lake (R21721)Last updated: Sunday, August 19, 2018 at 11:18 AMLocation: 63km southwest of Burns Lake• See approximate location of this wildfire on an interactive map• View an interactive map of all active Wildfires of Note.Discovered: Tuesday, July 31, 2018Size: 72,172.0 hectares (estimated)Cause: LightningResources• 47 firefighters• 66 heavy equipmentIn addition,there are 352 persons assigned to this fire including: 17 helicopters, and 142 pieces of heavy equipment are shared amongst all fires that comprise the Babine complex and will be utilized according to areas of highest risk � life and property being the number one priority.There are now a total of 25 fire trucks and tenders with 78 crew people from various parts of the province working on structural protection.Status: ActiveCrews will attempt to open up the Owen East Road and prepare for planned ignitions. On the west flank of Nadina Lake crews were challenged by a series of cutblocks. On the northeast, visibility is still challenging. Crews have defendable lines built on the northwest flank. A guard is being planned from Old Issac Trail to Moose Pit, keeping it on top of the ridge towards Verdun as a result of activity August 19, 2018.Crews will continue to mop up any burned control lines, continue to bunch trees along roadways to remove any danger trees and establish guard. The planning and construction of contingency guard is ongoing.A planned ignition near Owen lake is being planned for today: only if conditions are optimalAlkali Lake (R91947)Last updated: Monday, August 20, 2018 at 10:44 AMLocation: 5 km northwest of Telegragh Creek• See approximate location of this wildfire on an interactive map• View an interactive map of all active Wildfires of Note.Discovered: Wednesday, August 01, 2018Size: 39,000.0 hectares (estimated)Cause: LightningResources• 92 firefighters• 11 helicopters• 19 heavy equipmentA total of 125 personnel including a night shift are working on and in support of this fire. Today, 19 pieces of heavy equipment, including 4 water tenders, as well as 11 helicopters are supporting firefighting efforts. An Incident Management Team is stationed at Dease Lake. We are working closely with the Tahltan First Nation and several community members are engaged in fire suppression activities.Status: Active• 11% containedNortherly winds during the afternoon will be light and smoke will again accumulate in the Telegraph Creek and Glenora areas. Fire behaviour will likely increase in the afternoon particularly where there is less smoke and the sun�s heat can penetrate.Crews will again be checking structure protection, reinforcing guards and clearing danger trees. Crews and air support will continue work to minimize further impact to the communities of Telegraph Creek and Glenora. Tahltan First Nation staff and a number of contractors are working hard with heavy equipment to build and maintain guard. Structure protection specialists continue to install equipment on properties in the area and are relocating equipment from some areas where it is no longer required to new locations. Work has been completed on hand guard around properties on the south side of the Stikine opposite Telegraph Creek. Structural protection is in place in this area. BC Hydro crews have been working to clear up damaged line and replace poles. Ministry of Transportation & Infrastructure have equipment in the area today to grade the road to ensure the safety of crews travelling into and out the fire ground.An accurate line scan of the fire boundary is due to be undertaken.Island Lake Wildfire (R11921)Last updated: Monday, August 20, 2018 at 12:07 PMLocation: Adjacent to Island Lake, S of Francois Lake• See approximate location of this wildfire on an interactive map• View an interactive map of all active Wildfires of Note.Discovered: Wednesday, August 01, 2018Size: 17,291.0 hectaresCause: LightningResources• 64 firefighters• 8 helicopters• 11 heavy equipmentIn addition, 45 support personnel, 8 helicopters and 17 Structural Protection Specialists are *shared* between the Shovel Lake Wildfire and Island Lake Wildfire. Air support and Structure Protection is utilized according to areas of highest risk.Status: ActiveThe Island Lake fire remains active, but visibility is very poor over the fire. There was a 120 hectare excursion to the south of Anzus Lake running southeast towards Borel Lake, and crews are working to address this. No structural values are threatened. Crews continue to monitor for and extinguish any spot fires.Ground crews and heavy equipment are continuing to work off the 238 Road to build a fuel free containment line. Hand ignitions were conducted yesterday evening to support the development of safety zones between Borel Lake and Anzus Lake.Heavy equipment are working night shifts to build guard while fire activity is minimal. Today, crews will continue their work to tie the fire into the former Binta Fire burn scar from 2010. Crews are continuing to build guard on the southeast flank and the 238 Road and are monitoring for values in need of structural protection in the area and on the lakeshore.The weather is anticipated to be warm and dry today, with winds alternating from the east and the north up to 15 km/hr.While the BC Wildfire Service appreciates the support from the local communities, we are unable to accept or facilitate donations at the Fraser Lake fire camp. Instead please consider donating to groups supporting wildfire evacuees in affected areas.Verdun Mountain (R11796)Last updated: Sunday, August 19, 2018 at 11:18 AMLocation: 10 km southwest of Grassy Plains• See approximate location of this wildfire on an interactive map• View an interactive map of all active Wildfires of Note.Discovered: Tuesday, July 31, 2018Size: 14,711.0 hectares (estimated)Cause: LightningResources• 105 firefighters• 37 heavy equipmentIn addition,there are 352 persons assigned to this fire including: 17 helicopters, and 142 pieces of heavy equipment are shared amongst all fires that comprise the Babine complex and will be utilized according to areas of highest riskStatus: ActiveThe southeast flank is burning into an old burn scar. On the west flank, the fire is adjacent to the Keefe Landing Road but continues to hold there. Planning is in place to burn along this line as conditions allow to solidify the line.Behind Takysie two heavy helicopters were used to bucket along a guard. On the southwest corner the fire is backing slowly down towards a guard along the south. Crews complted guard from Takysie Lake to Tatalaska Lake, then from the north end of Tatalaska to Francoise Lake.Meachen Creek (N11886)Last updated: Monday, August 20, 2018 at 9:49 AMLocation: Kianuko Provincial Park and Meachen Creek drainage, approx. 10 km southwest of St. Mary Lake• See approximate location of this wildfire on an interactive map• View an interactive map of all active Wildfires of Note.Discovered: Wednesday, August 01, 2018Size: 6,996.0 hectaresCause: LightningResources• 21 firefighters• 3 helicopters• 6 heavy equipmentA 22 person Incident Management Team from Ontario assumed command of this fire as of last night.Status: ActiveThe safety of the residents of the St. Mary Valley and the safety of our crews remains the first priority for the BC Wildfire Service.Yesterday retardant line was laid up the ridge along Meachen Creek. A planned ignition was then conducted from this retardant line to the northeast corner of the fire to tie into a predetermined boundary line. Activities were supported by a type 1 crew doing hand ignitions to solidify the area.Today type 1 crews will be patrolling and wet lining the area along Meachen Creek to ensure there is no encroachment. Depending on visibility, another planned ignition with retardant line may be conducted to have the fire burn cleanly to a predetermined boundary line in Fiddler Creek.Heavy equipment continues to work in the area east of the fire and south of St-Mary�s FSR as a contingency line if the fire were to encroach eastward.Values protection equipment will be installed on all structures west of St-Mary�s Lake by noon today. The Structure Protection Unit will then be assessing the properties to the east of St-Mary�s Lake.The IMT is waiting for better visibility to use helicopters to establish a new perimeter. Although the smoky conditions are limiting operations, the smoke is also moderating fire behaviour. The smoke is raising relative humidity and lowering temperatures, thus making the fire less active. The Incident Management Team is concerned that once these conditions dissipate, more extreme fire behaviour will once again be observed.
TAYLOR, B.C. – At a District of Taylor Council meeting, on Monday, Council heard from a citizen requesting for a variance to a zoning bylaw.Tammy Smith is requesting that Council makes a variance to the zoning bylaw to accommodate her chickens and one rooster, this following a complaint the District had received from an undisclosed resident.The District did not disclose the specific complaint but did list their own reasons for not allowing a rooster within District limits, such as noise issues. As for the limit of chickens, Council said they referred to other communities and found that six was a good maximum to keep down on smell and noise.Smith says she keeps her coop and yard clean by using wood shavings and proper ventilation, so there would be no concern for a smell. As for noise, her chickens are locked up at night until mid-morning.The matter is now before the Protection Committee for further review.
New Delhi: Former Kolkata Police Commissioner Rajeev Kumar moved the Supreme Court on Monday seeking extension of the 7-day protection granted to him by it in connection with the Saradha chit fund scam case in view of lawyers’ strike in Kolkata.Kumar’s counsel mentioned the matter for urgent listing before a vacation bench comprising Justices Indira Banerjee and Sanjiv Khanna and said that since lawyers in Kolkata are on strike, the protection granted to the IPS officer should be extended. Also Read – Personal life needs to be respected: Cong on reports of Rahul’s visit abroadThe counsel said due to the strike, Kumar was not able to move the competent court for seeking relief and hence, the protection granted to him be counted from the time the strike ends. The lawyer told the bench that the top court had on May 17 granted seven days time to Kumar to approach the competent court for legal remedies but four days have already elapsed and they needed time to approach the competent court there. However, the bench said since the May 17 order was passed by a three-judge bench, Kumar’s counsel can approach the apex court registry or the secretary general for listing of the matter before an appropriate bench. “You are a lawyer and you know that CJI is the master of roster,” the bench told Kumar’s counsel and asked him to approach the registry for listing of the matter. Also Read – Firms staying closed 10 days a month due to recession, govt doing nothing: Priyanka GandhiOn May 17, a three-judge bench headed by Chief Justice Ranjan Gogoi had withdrawn the protection from arrest granted to Kumar by its February 5 order. The apex court, on February 5, had granted protection from arrest to Kumar while directing him to appear before the CBI and “faithfully” cooperate with investigation of cases arising out of the scam. The apex court had last week said that protection to Kumar would continue for seven days from May 17 to enable him to approach the competent court for relief.
Kobe Bryant, who has been quiet for months, said Thursday on ABC’s Jimmy Kimmel Live that he is healthy and prepared to return to the NBA in top form next season.Bryant, the Los Angeles Lakers’ superstar guard, missed all but six games of this season because of a fractured knee and torn Achilles in his left leg.“From a health standpoint, (I’m) 100 percent,” Bryant said. “I started doing a lot of on-court training and so I’m back into my routine. Then I’ll start lifting and start doing the running, which I hate. By the time the season comes around, I’ll be ready to go.”He expects to have many new teammates, and the team is amid a coaching search, one in which he hopes to have a valued opinion.“On the last two (hires) they didn’t,” Bryant said, referring to Mike Brown and Mike D’Antoni, who both did not last the length of their contracts. “On the third one, I’m hoping they do.”D’Antoni was offered a buyout to leave the Lakers and accepted it. Bryant’s response? “I didn’t care,” which can be interpreted as code for he wanted a change.Bryant said he and the Lakers brass, Jim and Jeanie Buss, share an “open-door policy” and communicate regularly. As for a new coach, Bryant said, “Honestly, it’s not really about whether the players like the coach or not. It’s really about getting results. Liking somebody and those results don’t necessarily go hand-in-hand.“Sometimes when a coach is driving you, you don’t necessarily like it, but it’s a part of the process, and then once you win, everybody is buddy-buddy after that.”“Jimmy and Jeanie both, they’re just really determined and excited about the possibilities of next season and rebuilding this and building on their father’s legacy and everything that he’s accomplished,” Bryant said. “And they’re taking the challenge extremely, extremely seriously. They’re both on the same page and they want nothing but excellence here, so I have no doubt that we’ll make it happen.”Ever the optimist, he said he expects the Lakers to return to prominence soon.“I do,” said Bryant, who will be 36 soon. “We’ll make changes, for sure. There’s certain characteristics that you have to build your team around in speed and length and rebounding and defense. We’ll make those adjustments.”
Wayne Rooney is likely to leave Everton after just one season and join DC United in the American MLS – and Gary Neville can understand this decision as playing again in your old club just isn’t the same.The former England international has been a key player this season for the Toffees but he is likely to leave in the summer, while Gary Neville insisted that it is understandable that he wants to try something different in his career.The former Manchester United player spoke about Rooney’s situation, according to Sky Sports:Jose Mourinho is sold on Lampard succeeding at Chelsea Tomás Pavel Ibarra Meda – September 14, 2019 Jose Mourinho wanted to give his two cents on Frank Lampard’s odds as the new Chelsea FC manager, he thinks he will succeed.There really…“I thought it was nice that he went back to Everton, but it never quite works when you go back.”“My view is that to experience something completely different would be a great thing for him – to get away and try something different.” “He’s got 30/35 years of his life to think about, coming pretty quickly. To experience different things, different culture, different environment, and to learn about new things is not a bad thing for him.”“He’s got a big decision to make in the next couple of years about what he does in his post-career.”
Facebook Mac Miller Dies At 26 Mac Miller Dies At 26 mac-miller-dies-26 The rapper who has spoken out about his struggles with substance abuse has diedAna YglesiasGRAMMYs Sep 7, 2018 – 3:38 pm Mac Miller, born Malcolm James McCormick, has died on Sept. 7 at the age of 26. He had just released his fifth studio album and was set to begin a tour in support next month.The rapper was found dead in his San Fernando Valley home earlier today, reportedly from an overdose. Miller has referenced his demons in his music, including his struggles with substance abuse. His 2014 Faces mixtape opens with him rapping “shoulda died already (faces)/Came in, I was high already.”In a recent interview with Vulture, he shared the challenge of being young and making mistakes in the public eye. He released his chart-topping debut album Blue Slide Park when he was just 20.”A lot of times in my life I’ve put this pressure to hold myself to the standard of whatever I thought I was supposed to be, or how I was supposed to be perceived… It’s annoying to be out and have someone come up to me and think they know. They’re like ‘Yo, man, are you okay?’ I’m like ‘Yeah, I’m [expletive] at the grocery store.’ You know?,” Miller said.The young rapper had just released his latest album Swimming on Aug. 3 and had a tour scheduled, beginning next month in San Francisco. Miller, who collaborated with many other big names in hip-hop and R&B including Anderson .Paak, Miguel and Kendrick Lamar, will be remembered through his music.Read more Email Twitter News
Share Listen 00:00 /00:44 NASARunoff from Hurricane Harvey as seen by satellite imaging.After studying how Harvey’s floodwaters moved through Houston toward the Gulf of Mexico, scientists are learning more about how the flooding behaved.The findings were discussed an annual meeting of ocean scientists in Portland, Oregon on Tuesday. A study from the University of Florida found that Houston’s bayous and rivers were so overwhelmed by rain that key draining points became clogged. The study’s author, Arnoldo Valle-Levinson, explained that as Buffalo Bayou was trying to empty floodwaters into Galveston Bay, flows from the San Jacinto River at times caused the flooding to push back up into the Houston area, which helped keep water levels high for days.Valle-Levinson said sea level rise made the bottleneck worse.“The ocean was preconditioning the flooding in Houston and in Galveston Bay,” he said.Another study from Texas A&M did find some good news: the storm’s contaminated floodwaters didn’t flow far enough into the Gulf of Mexico to reach the protected Flower Garden Banks National Marine Sanctuary. To embed this piece of audio in your site, please use this code: X
To embed this piece of audio in your site, please use this code: X Listen The Esplanade at Navigation in the Second Ward is in Houston’s most gentrifying ZIP code, 77003.In the past few years, the area east of downtown, known as EaDo, has gone through a rapid transformation.Formerly mostly home to warehouses, its streets are now lined with bars and restaurants and, most prominently, the BBVA Compass soccer stadium.Balazs Szekely with RentCafé analyzed 11,000 U.S. ZIP codes for changes in home values, household income and education level.“This new life and obviously the huge number of townhouses that followed as a response to the increased demand is actually what pushed the median income to almost four times the figure recorded in the year 2000,” Szekely said.He found home values in EaDo increased by 284 percent from 2000 to 2016 and higher education levels by 443 percent. That ranks ZIP code 77003 third in the country in terms of gentrification.The other Houston ZIP code in the top 20 is 77007, the Washington Avenue area.Home values there have risen 107 percent and household income 114 percent since 2000. 00:00 /00:00 Share
Young African leaders Gorata Seleb, Adeboyega Adewolu and Angela Gichaga are participants in Morgan’s YALI program. AFRO Photo/Anderson R. WardTwenty-five young leaders from 18 African countries are on the campus of Morgan State University during June and July taking part in a multi-disciplinary learning experience. The Young African Leaders Initiative (YALI) comes to Morgan’s Public Management Institute to explore some of the key issues facing communities around the world including financial management, public health, the environment and policy analysis.Morgan’s Public Management Summer Program, which began on June 16 with an opening ceremony, runs through July 25 with activities planned daily. Program participants will tour several Baltimore and Maryland educational venues, complete a leadership training program, learn about environmental and cross-cultural issues and their impact on society, and effective communication skills. During the six-week program, the YALI leaders are expected to learn about key issues and best practices in public management that they can take back to their home countries.The public management program is part of Morgan State University’s Public Management Institute, with support from the School of Engineering and the MSU Institute for Urban Research.
Popular on Variety ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15 That said, 8 million videos is really just a drop in YouTube’s vast ocean of video. Google doesn’t release how many videos are on the service but says that content removed in Q4 2017 represented just “a fraction of a percent of YouTube’s overall views,” and that the ratio has been steadily decreasing over the last five quarters.Meanwhile, even as YouTube’s beefed-up content flagging program identifies and blocks millions of out-of-bounds videos, it still faces an ongoing brand-safety issue: Advertising is still showing up in material that marketers do not want to be associated with. Commercials for more than 300 companies and government organizations were running on YouTube videos “promoting white nationalists, Nazis, pedophilia, conspiracy theories and North Korean propaganda,” according to a CNN report last week.Google CEO Sundar Pichai cited YouTube’s progress in combating content violators on Alphabet’s first-quarter 2018 earnings call Monday.“Even as we invest in new experiences, we stay very focused on making sure that YouTube remains a safe platform with great content,” Pichai said. “We are aggressively combating content that violates our strict policies through a combination of user and machine flags.”Pichai also touted YouTube’s continued momentum: In the last year, channels that earn $100,000 or more per year grew more than 40%. He also noted Dua Lipa’s video “New Rules” became the 100th video on YouTube to reach 1 billion views and highlighted YouTube’s Coachella live-stream it was viewed more than 41 million views. “No surprise, Beyoncé was the most-viewed Coachella performance ever on YouTube,” he said.YouTube plans to release a regular quarterly report on how it’s enforcing Community Guidelines. The video platform says it has already improved its auto-detection of content violations over the past year. For example, at the beginning of 2017, 8% of the videos removed for “violent extremism” were taken down with fewer than 10 views; after YouTube rolled out machine-learning flagging in June 2017, in Q4 more than half of the videos removed for violent extremism have fewer than 10 views. Computer-based detection is no silver bullet, though, and YouTube said that deploying machine learning “actually means more people reviewing content, not fewer.” Across all of Google, the company plans to boost the size of its content-review team to 10,000 by the end of 2018. (By comparison, Facebook has said it’s aiming to double the size of its security and safety group by year-end, to 20,000 workers.)In addition, YouTube noted that it is collaboration with more than 150 partners in academia, government agencies, and non-governmental orgs to refine its content-enforcement systems. Those includes the International Center for the Study of Radicalization at King’s College London, Anti-Defamation League, Family Online Safety Institute, and partners around the world focused on child safety like Childline South Africa, ECPAT Indonesia, and South Korea’s Parents’ Union on Net.YouTube also said it is rolling out a Reporting History dashboard for users to see the status of videos they have flagged for review. YouTube, stung by a string of scandals involving ads discovered running in offensive content, released new figures aimed at showing that its efforts to strip out content that runs afoul of its policies are working.The Google-owned video giant released its first YouTube Community Guidelines Enforcement Report on Monday (at this link), detailing the results of its content-removal program for the fourth quarter of 2017.According to YouTube, it pulled down 8.3 million videos over the three-month period. Most of those were spam or “people attempting to upload adult content.” Notably, YouTube said, 6.7 million were first flagged for review by computers — rather than human editors. Moreover, of stuff that was auto-detected by YouTube’s machine-learning systems, around 5 million (76%) were deleted before they received a single view.
Kicking off the celebrations for America’s Independence day on fourth of July, the American Center will feature blockbuster movies in the capital. Organised in collaboration with Motion Picture Distribution Association (MPDA), India office, and Cinedarbaar, the American Centre will be screening Star Trek into Darkness,The Great Gatsby, After Earth and A Good Day To Die Hard from the beginning of July. The Annual Independence Day celebration at the American Center attracts large numbers of young Delhites. The week-long celebration will include interaction with U.S. Embassy officials and quiz contests on a number of topics including IPR, followed by a film screening. Also Read – ‘Playing Jojo was emotionally exhausting’While the United States of America celebrates its Independence day across the country with parades, fireworks, and backyard barbeques in honor of the 1776 Declaration of Independence, the capital joins in with these special screenings. Assistant Cultural Affairs Officer of the American Center, Natalia Susak says, ‘At the American Center, we are proud to mark the occasion this year together with the MPDA, India office and Cinedarbaar. We are bringing our audiences the latest blockbuster films. After all: a love for cinema unites the people of our two nations.’ Also Read – Leslie doing new comedy special with NetflixSharing his thoughts, Mr. Uday Singh, Managing Director, MPDA (India) said ‘We need to continue to encourage audiences to appreciate and respect creative works and a legitimate market place for films.’ From JJ Abrams’ explosive action thriller Star Trek into Darkness to John Moore’s riveting screenplay of a deadly plot in Chernobyl in A Good Day to Die Hard, the Independence day screenings offer you the best of American cinema this July.
At a time when politicians are engaged in spreading mistrust among two major communities – Hindu and Muslims, for their own vested interests, here is group of Muslims who are more concerned about bringing both the communities closer.These Muslims have no reservation in reciting Gayatri Mantras inside the mosque and talk about similarity between religions in their monthly communal harmony meetings.’The members of both the communities- Hindu and Muslim, should develop a habit of sitting together and exchange ideas. There are a lot of similarities between both the religions but the language is the only difference,’ said Arif Beg, founder president of Also Read – ‘Playing Jojo was emotionally exhausting’Anjuman Amandost Insandost. The septuagenarian Muslim scholar has been organising the communal harmony meetings on first Sunday of every month since for the last 30 years. The meetings are organised in a old mosque in Old Delhi area- Makki Masji Mehdiyan.’I don’t know if I would be able to prevent youths from straying and bring both the communities on right track together for betterment of the society but I am confident that it a right step in right direction,’ he added.Beg, has been Minister of State in central government during 1977-79, he left BJP in 1999 to join Congress but rejoined BJP in 2003. The meetings are organised in a old mosque in Old Delhi area- Also Read – Leslie doing new comedy special with NetflixMakki Masji Mehdiyan.’The problems of all such issues is lack of education and most importantly moral education. The day parents will understand the importance of education these problems would perish from our society,’ said Beg. Unlike other Muslims clerics he is against the reservation for any community. ‘Dr B R Amebedar has demanded reservation in jobs only for 10 years but we have carrying it even today,’ he added stressing on the fact that a lot needs to change.
Several readers have asked why I use CDs in so many examples. With good reason, they wondered if I was suggesting buying CDs, which made them question my wisdom and sanity. If anyone thinks that’s what I’m recommending, I must have been remiss in conveying my message. On that note, I’d like to make one thing clear: I am absolutely opposed to buying any CD denominated in US dollars. (And since we’re clearing things up, I should also mention again that I am wholly opposed to TIPS.) When I use CDs in examples, I am usually referring to a lost time when they paid around 6% – a time when retirees could sail along on CDs and top-rated bonds without much worry. Since the first TARP bill passed in 2008, we’re hard pressed to find a CD paying more than about 1.2%, which is 0.5% below the government-reported inflation rate. It’s also 6.8% below the Money Forever Reader Poll Inflation Rate. Declining interest rates have hit retirees’ investment income hard; for many folks it’s dropped 50-80% from just a few years ago. So why would anyone want to make a long-term investment that is not keeping up with inflation and likely won’t catch up anytime soon? I certainly wouldn’t, and I strongly urge all readers to find other places to put their hard-earned money. Here is the bottom line: Before the 2008 crash, retirees could earn a decent yield on relatively safe investments. For many, this investment income was three to five times more than their Social Security checks, which allowed for a comfortable retirement low on financial stress. Now those same secure investments might bring in income equal to about half of your Social Security check. Before my wife Jo and I were married, we made one of our wisest investments: pre-marriage counseling. We had both been married before, and we wanted to make sure this marriage would be our last. One of our counseling assignments was to write down what we each wanted to be doing in 10 and 20 years. Our counselor also asked us to describe what “enjoying our golden years” meant to us. We took our assignments seriously, and as luck would have it, our dreams meshed quite well. We still consider ourselves truly blessed 25 years later. Some of the things we wanted were no-brainers. We wanted good health and enough money to not have to worry about it. While jetting around the world would be nice, our needs for happiness were much simpler. She grew up on a farm and my dad delivered mail; cool stuff is a bonus but not mandatory. We also wanted companionship to enjoy many things together and freedom to enjoy a few things apart. You get the point; we wanted the same things most ordinary people want. Nevertheless, having enough money to not have to worry about it turned into a trickier challenge than we’d expected. I retired at age 62. For the first six years, it was a dream. We lived in a motor home for a year and traveled extensively, nary a care in the world. Quite frankly, Jo and I were having a blast! That changed overnight, when the banks called in our high-yield, secure CDs. As I received more and more questions from readers about why I write about CDs so often, the more I realized what they had represented to us: freedom. Today we have enough money, but most of our capital is in riskier investments than FDIC-insured CDs. What investment could be more worry-free than a government-insured CD paying three times the rate of inflation? Moreover, it wasn’t just the yield that made us comfortable; safety was also key. If our government collapsed it was all over anyway, at least that was our thinking. The only folks I know who still have that same level of emotional comfort are retired federal employees. I can report that I now sleep much better than I did in 2008. However, it is still a far cry from our carefree joyride when I first retired. I know Jo and I are not alone. The Employee Benefit Research Institute (EBRI) does an annual survey on retirement confidence. Its 2012 survey reports that in 2005, 40% of retirees felt “very comfortable” that they had enough money to live on throughout their retirement years. Forty percent reported they were “somewhat comfortable.” In 2012 those numbers changed to 21% and 42% respectively. Also, in 2005, 7% reported they were “not at all” comfortable; that figure jumped to 19% in 2012. Here are some other interesting tidbits from that report: Americans’ retirement confidence has plateaued at the lowest levels seen over the last two decades. With her marriage, she got a new name … and a dress. A will is a … dead giveaway. And my favorite: Police were called to a daycare where a three-year-old was … resisting a rest. Until next week… Twenty-five percent of those currently working say the age at which they expected to retire changed in the last year. In 1991, 11% of workers said they expected to retire after age 65, and by 2012 that grew to 37%. Baby boomers are now retiring at a rate of 10,000 per day and will continue to do so for the next 19 years. For decades, through economic ups and downs, they formed their retirement expectations. Now, in a few short years those expectations have been drastically altered.Back to the Future Thanks to the reader feedback I mentioned earlier, I have come to another conclusion: baby boomers on either side of the retirement cusp understand the problem, but they don’t all know what to do about it. Retirees have to make a detour; a bridge is out, and it won’t be repaired anytime soon. I can talk about 6% CDs all day long, but the truth is, they no longer exist. How can we achieve our retirement dreams in the current environment? Our retirement goals have not changed. We still want enough money to not have to worry about it. How we go about getting there, however, has been changed dramatically. So let’s focus on the task at hand. Personally, I advocate a three-pronged approach. First, we have little choice but to put a whole lot more of our nest egg at risk. We need to beat our current, high rate of inflation and earn enough to adequately supplement our Social Security checks. This means continuing to learn about and monitor our investments much more than we had to in the past. We have to diversify our investments to minimize the overall risk to our portfolios, and look into alternative investments and strategies. An uneducated or passive investor is setting himself and his family up for disaster. Second – and this is the part no one likes – we have to modify our lifestyles. That means different things for different people, but no matter how much money you have, we all have to live within our means. That’s just good, old-fashioned common sense. I’ve noticed that folks who accept the reality of our economic problems have an easier time making adjustments. They made sensible cutbacks early on and are damn happy they did. On the other hand, our friends who thought we were in an 18-month recession are hitting some real rough patches. Third and finally, we need to redefine “don’t have to worry about it” to fit today. When Jo and I were traveling the country in our motorhome, Internet connections were spottier than they are today. We would check into a campground and ask if they had an Internet hookup. If they did, we would check our email and update our brokerage account. If not, no big deal; hopefully we would find one at the next campground. That was the epitome of not worrying about it. Not worrying looks a lot different today. We know and understand where our money is invested, and we continue to learn every day. While I would use the word “comfortable” to describe our situation, it’s still a far cry from our carefree, passive attitude of yesteryear. That was a dream… and a whole lot of fun while it lasted. Nevertheless, an educated, confident investor can still sleep very well. If you’re up counting sheep and worrying about your portfolio, skip the Ambien. Instead, I invite you to learn about Miller’s Money Forever and take advantage of our no-risk, premium subscription. If you decide it’s not for you, just call or email within the first 90-days and receive a 100% refund. And if you do decide to stick with Miller’s Money Forever, it’s still less expensive than a lifelong Ambien prescription. As the EBRI survey pointed out, in 2005 40% of those surveyed said they were “very comfortable.” By 2012 the number had dropped to 21%. Our goal at Miller’s Money Forever is to make sure our subscribers all fall into the 21% who are “very comfortable.”On the Lighter Side I saw that Danica Patrick won the pole position for the Daytona 500. I suspect that will add a few million viewers to the race next week. While she was born in Beloit, Wisconsin, she grew up in Roscoe, Illinois, right across the state line. We have friends who lived there, and she is certainly a hometown hero. Our Florida weather has been a bit cool over the last few days; the forecast for the race day is in the low 70s. Let’s hope it’s a good and safe race. —- My friend Rob – of We Buy Gold fame – and I went to a coin show over the weekend. There was no junk silver to be found, and Silver Eagles were also in short supply. After speaking with several dealers, they felt the current downturn in the price of metals will be short lived. And finally… Our friends Ed and Sarah sent us some clever puns. When the smog lifts in Los Angeles … U.C.L.A. The batteries were given out … free of charge. A dentist and a manicurist married … They fought tooth and nail. The percentage of workers expecting to retire before age 65 has decreased from 50% in 1991 to 24% in 2012.
Saudi Arabia The United States has the largest refining capacity in the world and is still by far the largest consumer of oil in the world (though China is beginning to catch up), and its refineries require 15 million barrels of oil a day. That means even though, due to the shale revolution, domestic production has dramatically increased to about 8 million barrels, the US still has to import between 7 and 8 million barrels of expensive foreign oil a day. Let’s take a look at who the US buys the imported oil from. (Now that I finally figured out my way around the new Windows 8—which, by the way, really sucks—I can even add some color to my tables.) Canada 2.5–3 Millions of barrels exported to US per day Top 10 Things You Didn’t Know Use Compounds Made from Crude Oil Golf balls Toothpaste Soap Aspirin Life jackets Louis Vuitton knock-offs Guitar strings Shoes Soccer balls Pantyhose 0.8 0.8–1.0 Venezuela Mexico But really, I’ve had a pretty good run. Here is my audited return since January 1, 2012 (green column on the left). 1.2–1.5 While the White House spied on Frau Merkel and Obamacare developed into a slow-moving train wreck, while Syria was saved from all-out war by the Russian bell and the Republicrats fought bitterly about the debt ceiling… something monumental happened that went unnoticed by most of the globe. The US quietly surpassed Saudi Arabia as the biggest oil producer in the world. You read that correctly: “The jump in output from shale plays has led to the second biggest oil boom in history,” stated Reuters on October 15. “U.S. output, which includes natural gas liquids and biofuels, has swelled 3.2 million barrels per day (bpd) since 2009, the fastest expansion in production over a four-year period since a surge in Saudi Arabia’s output from 1970-1974.” After the initial moment of awe, pragmatic readers will surely wonder: Then why isn’t gasoline dirt-cheap in the US? There’s indeed a good explanation why most Americans don’t drive up to the gas pump whistling a happy tune (and it has nothing to do with evil speculators). Let’s start with the demand side of this equation. Crude oil consists of very long chains of carbon atoms. The refineries take the crude and essentially “crack” those long chains of carbon atoms into shorter chains of carbon atoms to make various petroleum products. Some of the products that are made from petroleum may surprise you. Good day in the markets Bad day in the markets 0.3–0.5 Country Kuwait Canada is blue because it is not only friendly with the US, but also has the ability to increase oil production. The other countries are red because they either have decreasing oil production, or the country is not on good terms with the US government, or the production may be at risk for various reasons. The “red countries” all sell oil to the US at higher prices than does Canada. As I said, the US imports about 7 million barrels of oil a day, and our top 5 exporters make up between 5.6 and 6.8 million barrels while the rest is split among other countries. This means that even though the US has significantly increased its oil production in the past five years, a good chunk of oil has to be imported at much higher prices. And higher crude oil prices for refineries means higher prices at the gas pump. But that’s not the only issue: The “new oil” produced from the shale oil fields in the Bakken and Eagle Ford formations isn’t cheap. Both the Bakken and Eagle Ford have been hugely successful, and an average well in either region can produce over 400 barrels of oil per day. That may sound like a lot, but drilling thousands of meters into the ground (both vertically and horizontally), then casing and fracking the well, costs millions of dollars. And the trouble doesn’t end once the well has been drilled: oil and gas production can drop as much as 50% in the first year. Think of it as running on a treadmill—but the incline gets steeper and steeper the longer you run. That’s the current reality of America’s oil production. Now, these areas also have to deal with declining legacy oil production (“legacy” meaning older oil wells that produced before fracking became popular) due to depletion rates. Freeze-offs, and even hurricane season can affect the legacy oil wells’ production decline. As the old wells begin to deplete, they need to be replaced by unconventional wells with horizontal drilling and hydraulic fracturing. Even though these new wells provide an initial burst of production, they decline very quickly. That means you need to drill even more wells just to keep up—and the vicious cycle continues. The costs, as you can imagine, are forbiddingly high. Even in known oil-rich regions like the Bakken and Eagle Ford, the all-in cost of extracting a barrel of oil from the ground can cost as much as US$75 per barrel (for comparison, Saudi Arabia can produce oil for as low as US$1 per barrel). To put it in simple terms: cheap oil in North America is a thing of the past. So, the US produces expensive oil and relies on imports of even more expensive oil. And since the refiners need to make money as well, this means higher prices at the pumps. Who loses? The US consumer, of course. What would help lower gas prices? Building more pipelines to deliver cheaper Canadian oil to refineries in the US and decreasing the refineries’ dependence on expensive foreign oil. Until these new and much safer pipelines are built, rail has to pick up the slack. Almost 400,000 railcars full of oil are expected to be shipped in 2013, compared with just 9,500 railcars in 2008, a whopping 41-fold increase. But rail is not the answer. In fact, transporting oil by rail is much more dangerous than transporting it by pipeline. Just last week, we wrote about two recent accidents, one of which claimed 47 lives. Federal and state taxes at every step of the gasoline-making progress make the pain at the pump even worse. The US government already takes more than 60% of the divisible income from every barrel of oil produced… and another 50 cents per gallon at the pump. Then there’s the matter of Obama’s supposed “Green Revolution” and how America would be saved through the use of alternative energies. Obama wrote massive checks to different renewable energy firms that went belly-up, the most famous of them all being solar panel manufacturer Solyndra, whose bankruptcy cost American taxpayers more than $500 million. Obama is also a heavy supporter of ethanol (his home state of Illinois, after all, is the third-largest ethanol-producing state) and has increased the targets for the use of ethanol in transportation. Someone has to pay for all of these subsidies, so why not get the dirty, evil oil companies to pay for them? Keep in mind, though, that the oil companies have enough lobbyists and lawyers to keep the government at bay—so the higher prices will be passed on to the consumers. To sum up why the price of gasoline is so high even though the US is producing so much more oil than before: The high cost of American oil production Even higher costs due to imported (non-Canadian) oil Obama not allowing cheaper Canadian oil to flow to the refineries via pipelines such as the Keystone XL The taxes on crude are used to fund Obama’s green dream—his green-energy “legacy”—and his love for ethanol and the taxes at the pump will not decrease So what does this mean for you, the consumer? You have two options: You can gripe about high gas prices… or you can choose to profit from the situation, no matter how dire. If you’re the former type, so long, and I hope you enjoyed my missive today. If you’re the latter, let’s talk money. Who am I? Well, I kinda look like this guy… I stand by my performance and offer anyone reading this article a guarantee: if you try the Casey Energy Report today and do not think that it’s the absolute best energy newsletter in the business, you get all your money back, no questions asked. I’m not saying I’m perfect (my wife reminds me daily that I’m not ), but I’m willing to put myself out there and offer you a challenge to expand your knowledge and become a better investor. All of my past newsletters, going back to 2006, are up on the Casey website, and I want you to check them out. I have lost money on investments (anyone who says they haven’t is a liar), but I made sure I learned something from every harsh experience. And overall, I’ve made much more than I’ve lost. Our energy portfolio has been delivering +50% gains since January 1, 2012. Right now, I’m the first to publish on what I think is going to send my track record to the moon. I’m on to an investment theme that I believe has the potential to make 10-fold returns for investors who play it right. That theme is the European Energy Renaissance. Doug Casey and I are convinced that new technologies applied in the Old World will bring huge New World profits. But don’t take my word for it—I challenge you to try out my research. Click here to take me up on my 100% money-back guarantee. Additional Links and Reads OPEC Warning of $150 Oil Price If Member Countries Cut Investment (The National) What people often forget about the oil and gas sector is that it is a very capital-intensive business. If companies (or countries) do not consistently re-invest in their production, the amount that comes out of the fields inevitably drops lower and lower. To make matters worse, the demand for oil within petroleum-exporting countries is increasing due to population growth. This means much less will be available for exports, leading to higher oil prices worldwide. Pirates Abduct Two Americans on Oil Ship Off Nigeria Coast (New York Times) Piracy is still a very real concern worldwide when it comes to shipping, adding yet another layer of risk in the global oil and gas trade. Though the phenomenon has died down somewhat in Somalia, we see that piracy is still alive and well in other parts of the world. In the latest event, two American citizens have been abducted in Nigeria. This could be the beginning of a worrying trend of increased piracy around parts of Africa. Final Keystone Review Assesses Potential of Oil-by-Rail Transport (Globe and Mail) US officials are currently considering whether transporting oil by rail is a viable alternative to the pipeline. However, as we have mentioned in previous issues of the CDD, they will soon find that despite the fact that it’s theoretically possible to ship the oil by rail, it will be much more expensive and much less safe. If it comes down to a clash of the lobbyists, however, who knows what could happen?
In This Issue. * Markets think the elections are good for the U.S. * Gold loses $28 and probably more as the day goes on! * Canada gets a renminbi hub! * U.S. Trade Deficit soars to $43 Billion! And Now. Today’s A Pfennig For Your Thoughts. Currencies & Metals Get Ambushed! Good Day!… And a Wonderful Wednesday to you! Right from the top this morning (and before I have a senior moment) I want to say a GREAT BIG HAPPY BIRTHDAY to the lovely Rachel Butler. Oldest son, Andrew’s lovely bride, Rachel. I always think of the first time I met Rachel, it was at the Annual Butler Christmas Party, and I thought, she’s perfect for Andrew! And so it was, a few years later, they were married! Now, she’s a Butler, and a big part of our family. Happy Birthday, sunshine. Well, there’s no sunshine for the currencies and metals this morning, and guess what’s getting blamed for this ambush this morning. The results of the mid-term elections in the U.S. last night, which saw the Republicans gain the Senate for the first time in long time, and the markets are all giddy about this prospect. It seems they think that this will grease the tracks for clearer decision-making to take place. Hey! I didn’t say that, the pundits out there in writer-land did! I’m just reporting what they are associating the ambush on the currencies and metals this morning with. Of course, I could very easily say to them, if they would hear me now and listen to me later, that this is no panacea for debt cutting, and budget balancing. For, when this dollar weak trend began we had the same scenario, expect the President was from the other party. Remember that? So, I guess what I’m saying is that there’s no guarantee that business will recover because of the party in charge. And that’s all I’m saying about this political stuff, because it gets me nowhere, I’ll tick off half the readers, and make the other half not so happy because I didn’t jump up and down in an euphoric dance! But, the damage to the currencies and metals this morning is UGLY. They aren’t just getting hit with the UGLY stick, they are having the whole forest hit them! Gold is down $26 this morning, and looking like it could go even lower. Last night I was reading a report from Casey Research, and the headline of the story read: Sellers Waterboard Gold – Is The Price Torture Over? Well, the markets are answering them this morning, and saying not no, but Hell No! I saw another conspiracy thought yesterday regarding who’s behind this latest drive to get Gold cheaper. The thought centered around the Swiss Gold Referendum. Saying that the Swiss are behind this move to get Gold cheaper, for they believe they will lose the resistance to the Referendum, thus requiring them to buy 1,700 tonnes of Gold, as I explained last week. Well, if they have to start buying, wouldn’t it be better to start at a cheaper price? Of course it would be. But let me ask this question, and don’t get me wrong, the idea is solid, just not the player. Do they really think the Swiss National Bank (SNB) have enough intestinal fortitude to do this? I don’t. But then they did pull of that devaluation of the franc two years ago, and the markets barely batted an eye. Well, this is no fun. watching Gold get ambushed day after day by the paper trades. As I told you yesterday, Koos Jansen reported that China has an insatiable demand for physical Gold, and Russia, and Turkey, and Brazil, I could go on, but just about every county in the East and Middle East are adding to their Gold reserves. Are they doing this for the hell-of-it? Or, are they doing so, because they see something coming down the pike that’s going to be UGLY. Even uglier than this ambush of the currencies and metals this morning by the dollar bugs. But you know. I told you months ago that I thought the dollar was ready to have a short period of strength, and could drive the euro down to below 1.20. I just didn’t think it would come this quickly, which leads me to believe that we could very well see a bounce that’s based on the drop in the currencies was too far, too fast. We usually see that. I’m just saying. OK. on Monday I told you the Big News regarding the direct convertibility of the Chinese renminbi, with Singapore dollars. Well, it was Big News as far as I’m concerned, and let me remind you that in 2008, I began writing about the currency swap agreements that China was signing with one country at a time, and thought that too was Big News, even if most news outlets didn’t see it that way. And then yesterday, in the Canadian National Post, was more Big News. Apparently, this coming weekend, when Canadian PM Stephen Harper visits China, both he and the Chinese will use the visit as an opportunity to announce that Canada (Toronto) will become a trading hub for the renminbi, thus allowing Canadian firms to trade directly in the local Chinese currency, rather than converting loonies in U.S. dollars to do business in China. This is the culmination of the currency swap agreement that was signed last year between the two countries, where they agreed to swap each country’s currency, thus leaving out the U.S. dollar, in the terms of trade between the two countries. Now there is a Hub in Canada, for depositing renminbi, by Canadian firms doing business in China. It just keeps growing bigger and bigger all the time folks. The Chinese drive to gain a wider distribution of the renminbi, which is the number one requirement of a reserve currency! I don’t know of any other way I can emphasize the importance of the news regarding the renminbi this week. I can no longer do handstands or cartwheels (I was a on the “tumbling team” as a young man in elementary school, yes, I know, look at me now, go ahead and laugh, that’s OK, I know that somewhere in this extra-large body is the Chuck that was quite, what my dad used to call, a country athlete) But I digress. What I’m saying is this is absolutely crazy that no news outlets are of the same mind as me and believe this news is important. UGH! I told you yesterday that the Reserve Bank of Australia (RBA) left rates unchanged, and didn’t take their meeting as an opportunity to deep six the Aussie $ (A$). But today, the A$ has lost over 1-full cent. Why? Wasn’t the fall from $1.04 to the low 90-cent range, tied to the weak prices in commodities, namely iron ore? And then the fall from the low 90-cent range to 88-cents due to RBA jawboning the currency lower? And then what’s to blame for this next downward move? I really think the interest rate differential narrowing talk in favor of the U.S. dollar is getting overblown. But it is what it is, right? We have to deal with it. until someone has a V-8 head slap moment, and realize they have been premature with their thoughts about rates in the U.S.. That could take some time, folks, for these knuckleheads have very thick skulls! Or, it could last until the next round of QE is announced. Yes, I know that’s not carved in stone, and it might never happen, but as I said the other day, if it doesn’t ever happen, then I’ll believe that pigs can fly. So, I guess it would be good to talk about when I suspect the next round will come. They were discussing the timing of the next round of QE (QE4) in the 5 Minute Forecast / The “5” last Thursday, and they said that James Rickards pointed out that” the time between the end of QE1 and the start of QE2 was 17 months. The time between the end of QE2 and the start of QE3 was 15 months. So, expect QE4 in late 2015″. And I thought, no, no, no, that can’t be, I see the lack of liquidity and the drop in inflation happening far before that. And then The “5” went on to say that they have this “Oh Sh*t” Graph, that tracks inflation. And funny thing, every time, since 2009, that inflation dropped below 2.2%, the Fed has embarked on another round of QE, and guess what the graph is telling us now? “Uh-Oh, the line has been breached! Inflation has dropped below 2.2% again. Come again, I hear you saying. Are you telling me that we could expect QE4 at any time now? Ahhh, grasshopper, not quite yet. the Fed will have to see that all their hard word of the past 6 years is being undone for sure first. Because consumer inflation can be volatile, but we should continue to look for this to happen. And when it does, all this talk of dollar strength will be reversed, or at least that’s how I see it, it’s my opinion and I could be wrong! Well, the U.S. Trade Deficit widened by an amount that was not seen or forecast by the experts in September, and guess what the culprit was? Well, first let’s talk about the size of the Trade Deficit, which printed at $43 Billion in September, up from $40 Billion in August. The deterioration came from exports falling 1.5% and imports remaining unchanged. So, guess what the culprit was? The relatively stronger dollar. Just another unintended consequence of a strengthening currency on a country that depends so much on exports to offset the imports that are usually quite high. Of course, exports could have been held down too, by the slowing economies of the world. But, these countries still need capital goods, no matter how slow their economies are, just like here in the U.S. we import things like Oil no matter how slow the economy is. The U.S. Data Cupboard was busy yesterday with the Trade Deficit print, and the ugly -.6% negative print of Factory Orders, which wasn’t as bad as August’s -10% print, but ugly nonetheless. The NY regional ISM (manufacturing index) fell from 63.7 to 54.8. That’s a HUGE drop, but these regional reports can be volatile, and I grew tired of reporting on them because they never seemed to have any bearing whatsoever on the National ISM, but this one stuck out like a man with a hatchet in his forehead! Today’s Data Cupboard will begin to get us ready for the Jobs Jamboree on Friday, when the ADP Employment Change report for Rocktober. This report is expected to show that 220,000 jobs were added in Rocktober. The song: The Walker, by Fitz and the Tantrums is playing, and I have the speakers turned up so loud, it’s a good thing I’m here by myself! This is a real wiggle and bounce in your chair song! I had a laugh the other day, when the National ISM report and the Markit version of ISM printed for Rocktober. One showed a HUGE gain in the index up to 59, and the other showed a lower number of 55. Now remember this printed on Monday before the elections yesterday, so guess which one the Gov’t is responsible for printing and which one is a public company. Are you laughing out loud with me on this? That gain to 59 was so trumped up that it made it look ridiculous! The size of the, no wait I can’t say that. I’ll just say that the boys and girls printing that number were brave, eh? I read a story on the Bloomberg this morning that pretty much sums up the data prints in the U.S.. Let’s see what the Bloomie has to say.. “Paul Singer’s Elliott Management Corp. said optimism on U.S. growth is misguided as economic data understate inflation and overstate growth, and central bank policies of the past six years aren’t sustainable. Nobody can predict how long governments can get away with fake growth, fake money, fake jobs, fake financial stability, fake inflation numbers and fake income growth,” New York-based Elliott wrote. “When confidence is lost, that loss can be severe, sudden and simultaneous across a number of markets and sectors.” Amen brother! I think this is bang on, folks. and I’m glad I happened to see it, as I was looking through stuff on the Bloomie this morning. My email box was loaded with emails from the WSJ and Washington Post this morning, giving me the results of the all the races, as if I really wanted to see all those! UGH!, so I spent part of the morning, deleting over 100 emails! Gold isn’t the only metal getting ambushed this morning by the dollar. Silver has a $15 handle, Platinum has lost $25, and Palladium has lost $42 since yesterday morning. OMG! (oh my goodness!) This is crazy folks, just downright crazy! For What It’s Worth. There’s something happening here, what it is, ain’t exactly clear. Yes, I’ve waited a long time to use that line after the FWIW beginning. and today’s piece works out perfectly, for we have some numbers, but it’s just not clear what to make of them yet. I saw the headline on Ed Steer’s letter, and so I went to the site at Newsmax.com to find the story. Are you ready? Yes, I’m ready. “The portion of home purchasers who are first time buyers dropped to 33 percent for the 12 months through June, the lowest since 1987, and down from 38 percent a year earlier, according to a survey by the National Association of Realtors. The average since 1981 is 40 percent. “Rising rents and repaying student loan debt makes saving for a down payment more difficult, especially for young adults who’ve experienced limited job prospects and flat wage growth since entering the workforce,” Lawrence Yun, the NAR’s chief economist, said in a statement. Average hourly wages for all workers rose only 2 percent in the 12 months through September. “Adding more bumps in the road is that those finally in a position to buy have had to overcome low inventory levels in their price range, competition from investors, tight credit conditions and high mortgage insurance premiums,” Yun said.” Chuck again. Chris and I were talking about housing and housing loans yesterday, and in the previous day, we discussed with one of our mortgage guys in Jacksonville, who told us that there is more pressure on banks to give loans to low credit rating borrowers. Chris and I said, isn’t that what got us in this crazy financial meltdown to begin with? And then Mike Meyer chimed in and said, ” Yes, and when it all crashes like it did before, who are they going to blame? The Banks for giving the low credit borrowers loans!” I shake my head in disgust that this is happening again. To recap. The currencies and metals are getting ambushed by the dollar this morning, and it’s all due, according to the stories on the wires, to the Republicans winning the Senate which gives them the ability to set the course for the President’s last two years, and the markets believe this will be clear decision-making. Of course Chuck pointed out that we’ve seen this before, about 12 years ago at the beginning of the weak dollar trend. so, he’s questioning their thought process. (but isn’t Chuck always questioning the markets’ thought processes? HA!) Gold is down $28 as I write, and looks like it could be one of those really ugly days for the shiny metal. Canada will have a hub for renminbi to facilitate trade and allow the direct exchange of loonies and renminbi in the terms of trade. This is HUGE news folks, but don’t tell the news agencies, or the markets, they can’t seem to find their rear end with both hands. Currencies today 11/5/14. American Style: A$.8620, kiwi .7735, C$ .8740, euro 1.2480, sterling 1.5905, Swiss $1.0365, . European Style: rand 11.1495, krone 6.8845, SEK 7.3840, forint 247.45, zloty 3.3940, koruna 22.2830, RUB 44.18, yen 114.70, sing 1.2955, HKD 7.7525, INR 61.41, China 6.1503, pesos 13.63, BRL 2.5200, Dollar Index 87.53, Oil $76.96, 10-year 2.35%, Silver $15.24, Platinum $1,200, Palladium $757.80, and Gold. $1,141.35 That’s it for today. Well, did you get out and vote? It was an ugly rainy day here, so getting out to vote took effort, but I did my part despite the weather. It’s difficult for me on days like this when everything that I believe about economics, markets, and trading is shattered, shaken, and left for dead. But about 7 years ago, after being told I had Stage 4 cancer, I began to have a different outlook about those things I couldn’t control. I have no control over the markets, or the people that make up numbers for economic reports, or created Trillions of dollars with one stroke on a keyboard, so I work diligently to not let these things get to me. Instead I attempt to focus on what’s important. like Rachel Butler’s birthday today! I understand that we’re going to dinner tonight to celebrate Rachel’s birthday, so that should be fun! Shooting Star is playing their hit song: Last Chance, on the IPod, man that was a big song in the 80’s. They were a Kansas City, Mo band, so they got a lot of air time here in St. Louis. See, there, a little rock history on top of all the other things we talked about today, where else can you get such a wide array of information in one place. Like the Wide World of Sports. Spanning the Globe. And then the sky jumper falls off the ramp. Good and bad. just like the everything else. But the good today is that it is Rachel’s Birthday! YAHOO! And. our catcher, Yadier Molina won his seventh consecutive Gold Glove! WOW! Ok. time to get out of your hair today. that is if you have any left after seeing the ambush. I hope you have a Wonderful Wednesday! Chuck Butler President EverBank World Markets