Tag: 上海楼凤

5 days agoLiverpool legend Souness scoffs at Man Utd youth policy

first_imgAbout the authorPaul VegasShare the loveHave your say Liverpool legend Souness scoffs at Man Utd youth policyby Paul Vegas5 days agoSend to a friendShare the loveLiverpool legend Graeme Souness has questioned Manchester United’s youth policy.He warns that United won’t be able to nuture these players if they are drafted into a squad low on confidence.”Ever since the Busby Babes, the club have made a fetish out of youth,” Souness wrote in the Sunday Times. “In itself, that is no bad thing, especially at a club which subsequently brought George Best through its ranks and then produced the Class of 92. “It’s possible that the likes of Marcus Rashford, James Garner and Mason Greenwood might go on to emulate their illustrious predecessors — though I’m sceptical — but just because they have been picked to start for United while they are still teenagers doesn’t make it so. “The difficulty is compounded by the fact that they are being thrust into a team which is shorn of authority and confidence.” last_img read more

Read More

Trudeau and Merkel talk trade climate change ahead of June G7 summit

first_imgOTTAWA – 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 Presslast_img read more

Read More

Cong believed in insulting institutions its desire for power cost nation greatly

first_imgNew Delhi: Accusing the Congress of insulting institutions, including Parliament, judiciary, media and the armed forces, when it was in power, Prime Minster Narendra Modi on Wednesday urged people to think wisely before casting their vote in the Lok Sabha elections beginning April 11.His government has changed things as it puts institutions above everything else, the prime minister said in a blog post. “As you go to vote – remember the past and how one family’s desire for power cost the nation so greatly. If they could do it then, they can surely do it now,” Modi wrote. “Think wisely: From the press to parliament. From soldiers to free speech. From the constitution to the courts. Institutional insult is the Congress way.” “Everyone is wrong, only the Congress is correct,” he said, taking a dig at the principal opposition party. India has seen that whenever dynastic politics has been powerful, institutions have taken a severe beating, he said. Referring to parliamentary proceedings, he said, “The nation knows the numerical dynamics of both houses. It is clear that when a non-dynasty party [has a] higher number, its tendency to work more is visible … which were the forces disrupting the House and why.” Discussing the freedom of expression, the prime minister alleged that dynastic parties have never been comfortable with a free and vibrant press. “No wonder, the very first constitutional amendment brought in by the Congress government sought to curtail free speech. Speaking truth to power, which is the hallmark of a free press was seen as vulgar and indecent,” Modi wrote. He pointed out that the UPA years saw the bringing of a law that could land you in prison for posting anything offensive . “A tweet against the son of a powerful UPA minister could land innocent citizens in jail … the nation watched with horror when a few youngsters were arrested for expressing their true feelings at a programme in Karnataka, where the Congress is sharing power,” he said. Modi said he wants to tell the Congress that “no amount of intimidation” will change the ground realities.last_img read more

Read More

Three candidates in Delhi do not have college degrees

first_imgNEW DELHI: Among the candidates contesting for Lok Sabha polls in Delhi, three dont have college degrees– two are BJP candidates Gautam Gambhir and Hans Raj Hans while third is Congress candidate Mahabal Mishra who has a Pre-University Certifiacte (PUC).While AAP candidate from North-West (Reserved) Parliamenatry Constituency Gugan Singh is class 8 pass.The May 12 Lok Sabha polls in the national capital will involve a contest between Delhi’s ruling Aam Aadmi Party, the Congress party and the Bharatiya Janata Party which won all the seven seats in 2014. Five of them are re-contesting this year. Former cricketer Gambhir, in his nomination affidavit, has said that his “degree (was) not completed”. The 37-year-old is contesting in East Delhi against the AAP’s Atishi, 37, who holds a Master of Science (2006) degree from Oxford University. The Congress has named 50-year-old Arvinder Singh Lovely, a B.A. Political Science graduate from Delhi University. Hans Raj Hans, a matric pass (1978), is contesting from the North West Delhi seat. He will face the AAP’s Class 8 pass 70-year-old Gugan Singh. The Congress has named 53-year-old M.Sc. holder Rajesh Lilothia from the seat. For the West Delhi seat, the Congress has named 65-year-old Mahabal Mishra, with a pre-university certificate (Intermediate course) from Bihar. Mishra will face 41-year-old Parvesh Sahib Singh, a MBA holder, and the AAP’s 47-year-old Balbir Singh Jakhar, with a L.L.B degree. In the remaining four seats, the fight is between degree holders. In the Chandini Chowk parliamentary seat, BJP’s 64-year-old sitting MP Harsh Vardhan — a medical graduate from Ganesh Shankar Vidyarthi Memorial Medical College, Kanpur, and a Master of Surgery in Otorhinolaryngology (1983) — is contesting against the AAP’s 52-year-old Pankaj Gupta, a Bachelor of Engineering in Electronics (1987) from Allahabad. The Congress has fielded 74-year-old J.P. Agarwal, holding a degree in Bachelor of Arts (1960) from Delhi University’s Hansraj College. North East Delhi will see a contest between three master degree holders. AAP’s 38-year-old Dilip Pandey, holding a Master of Computer Application degree (2005) from Bhopal, is facing three-time Delhi Chief Minister and Congress leader Sheila Dikshit. The 81-year-old completed her post graduation in history from Delhi University in 1959.last_img read more

Read More

Football Chris Worley the quarterback of a confident defense

OSU redshirt junior linebacker Chris Worley (35) flexes after a tackle during the Buckeyes’ 31-0 loss against Clemson in the Fiesta Bowl on Dec. 31. Credit: Alexa Mavrogianis | Photo EditorOhio State redshirt senior linebacker Chris Worley is filled with confidence. Moving to the middle linebacker spot, Worley now has the opportunity to lead the Buckeye defense after a very successful 2016 season.Worley was a big part of the record-breaking OSU defense a season ago. In 2016, as the Buckeyes’ weak-side, or WILL, linebacker Worley was fourth on the team with 70 tackles, recorded 4.5 tackles for loss and had an interception.A former three-star recruit out of Glenville High School in Cleveland, Worley is used to moving around to different defensive positions throughout his college career.“I moved to SAM (strong-side linebacker) and battled with a first-rounder until the end of the first game honestly,” Worley said. “That speaks a lot about Darron (Lee), but it also speaks a lot about myself. That was a battle that I’ll never forget because it made us both better. That’s two positions right there, then I can also play Mike (middle linebacker) or WILL (weak-side linebacker) and play it as well as the best of them.”Worley said the versatility is what it took to get him on the football field.“The only thing I did was put my head down and just went as hard as I could and coach Meyer told me, ‘I don’t know what you’re going to play, but if you just keep going, next year you’ll find a way.’ And that’s what I did,” Worley said. “That’s where I’m at right now. It was a struggle, but at the end of the day, it made me better.”With the amount of experience Worley has at multiple positions on the defensive side, OSU linebacker coach Bill Davis had no hesitation at putting him in the middle.“That Mike ‘backer’ is our quarterback,” Davis said. “He has to understand everybody’s job, he has to line them up. One of the things about a Mike ‘backer is you not only have to line up others, you have to be able to do your own job after, and not everybody can do that. Chris is outstanding and getting everybody and himself lined up.”The role of the defensive “quarterback” is much more than getting his teammates lined up in the game. It defines Worley’s role as a leader of the defense. The vocal aspect of being a leader is something that Worley has always had, but did not want to bring out in the past.“I didn’t want to be the biggest loudmouth and wasn’t even really touching the field in the ways that I wanted to,” Worley said. “But sometimes it’s better to go under the radar and help the team in any way they need you. But, I feel like now I’m in a position to be more vocal.”Worley’s responsibility of leading the defense is especially critical now that linebacker Raekwon McMillan has left for the NFL. Associate head coach and defensive coordinator Greg Schiano feels that Worley will fill those shoes nicely.“We lost what I think is a man’s man in Raekwon McMillan,” Schiano said. “Just a really fine football player and a smart football player. We needed to make sure that we could try and replace him with a guy that has that kind of presence about him. I really am impressed with (Worley) in two days.”Junior linebacker Jerome Baker is not worried about Worley being the unquestioned leader of the defense.“Worley’s going to do his job,” Baker said. “I just gotta do my job, and make sure he can trust me the same way I trust him.”The expectations are high for the Cleveland native. However, this is the opportunity that Worley has been waiting on for a long time.“It’s something that I’ve always wanted,” Worley said. “I’m a grinder. I like to hit people. So just to give me that more ammunition in my toolbox to just go kind of hurt some people, that’s what I like to do. It’s a blessing to be in this position and it’s up to me to sort of live up to expectations.”Worley might have high expectations for next season. However, his confidence is not going anywhere.  “I feel like I’m one of the most dynamic players in the country,” he said. read more

Read More

Arsenal youngster Reiss Nelson to join Hoffenheim on loan deal

first_imgArsenal have reportedly decided to sanction Reiss Nelson’s season-long loan move to German side HoffenheimThe 18-year-old is highly-rated at the Emirates but has found opportunities hard to come by.Nelson has under 12 months remaining on his current contract and is keen to secure himself regular first-team action.The Daily Mirror reports that a compromise has now been reached between Nelson and Arsenal.The agreement involves Nelson being allowed to go on loan for the remainder of the current campaign.Jadon SanchoMerson believes Arsenal should sign Sancho Manuel R. Medina – September 14, 2019 Borussia Dortmund winger Jadon Sancho might be the perfect player to play for the Gunners, according to former England international Paul Merson.In return, the young forward will agree to sign a new deal with the Gunners.Nelson has made a total of 16 appearances in all competitions for the senior side.But new boss Unai Emery is unlikely to give Nelson much playing time this year.Therefore, Arsenal have reached an agreement with Hoffenheim to loan Nelson.The Bundesliga club signed former Arsenal winger Serge Gnabry on loan from Bayern Munich last season.last_img read more

Read More

Bill Aimed At Reducing Number Of Set Netters On East Side Of

first_imgThe bill will be introduced during the upcoming legislative session set to convene tomorrow, January 16, in Juneau. Facebook0TwitterEmailPrintFriendly分享Senator Peter Micciche (R-K-Pen) has introduced a bill for the upcoming legislative session aimed at reducing the number of commercial set net fishers on the east side of the Cook Inlet. Senator Micciche emphasized that this is an introduction to a conversation, and is a ‘voluntary’ fleet reduction: “It’s at no cost to the state- we have discovered national and private funds that would help with it.” The bill also puts forward the question of a ‘commercial set net fishing permit buy-back program’. On March 1, 2019, the commission, and the Department of Natural Resources, will conduct an election among individuals qualified (certain set net fishers) on the question of whether to establish an entry permit buy-back program. Story as aired: Audio PlayerJennifer-on-set-net-bill-1.mp3VmJennifer-on-set-net-bill-1.mp300:00RPd The bill was introduced for the purpose of issuing entry permits and controlling entry into the commercial set net fishery on the east side of Cook Inlet, the commission would establish the area administered on December 31, 2018, as the Eastern Set Net Subdistrict of the Cook Inlet Central District as a distinct administrative area separate from the Cook Inlet Central District.center_img The bill reads- “An Act relating to the powers of the Alaska Commercial Fisheries Entry Commission; requiring certain set net fishers to vote on the question of whether their entry permits shall be subject to a state buy-back program; establishing a buy-back program for certain set net entry permits; providing for the termination of set net site leases held by individuals who participate in the entry permit buy-back program; providing for a condition on future leases of certain state land; and providing for an effective date.” Senate Bill 135, according to Senator Micciche has a max 40% overall reduction. That would bring the ‘east set net fleet’ down to where it was prior to the eastern migration in the 80’s. Senator Micciche: “The numbers that came from back from the set netters polling themselves, were that 79.5% answered ‘yes’ that they would support the concept of a voluntary fleet reduction.” Senator Micciche: “This is a starting point in a conversation that began probably four years ago, when a group of set netters were looking for a solution. A gear reduction in the Cook Inlet, particularly in the east side set net fishery, if it were a win/win for all all would be a healthy outcome.”last_img read more

Read More

Poor Peoples Campaign Brings Message to Congress

first_imgBy James Wright, Special to the AFRO, jwright@afro.comU.S. Rep. Elijah Cummings (D-Md.) and U.S. Sen. Elizabeth Warren (D-Mass.) recently convened a hearing on poverty in the country and the key witness was the Rev. William Barber II, the co-chair of the Poor People’s Campaign.Barber testified on June 12 at the U.S. Capitol before such lawmakers as Rep. Barbara Lee (D-Calif.) and Joseph Kennedy III (D-Mass.) and Sens. Cory Booker (D-N.J.), Bernie Sanders (I-Vt.), Patty Murray (D-Wash.) and Dick Durbin (D-Ill.), who serves as the Democratic Whip. Before Barber spoke, Cummings talked about the importance of the forum.Rep. Elijah Cummings (pictured) and Sen. Elizabeth Warren recently held a hearing on the scourge of poverty. (Courtesy photo)“President Obama’s most significant accomplishment was pulling America out of the Great Recession,” he said. “During his administration, we had 75 straight months of job growth. However, far too many Americans are not doing well economically. In 2016, 40 million Americans are living in poverty as the stock market soared.”Cummings said that Americans life expectancy has declined over the past two years and he noted that many people are going into bankruptcy because of the high cost of medical treatment.  He noted that “everyone should benefit from our nation’s growth.”Warren said that the average American is in a dire financial situation.“Forty percent of adults don’t have $400 for an emergency,” Warren said. “Fifty percent of all working Americans don’t have a dollar for retirement. America is in a crisis.”The Institute for Policy Studies (IPS), a think tank based in the District of Columbia released a statement on June 12 that noted that $140 million Americans or 43.5 percent of the country’s population is either poor or low income “in the world’s richest country.” The statement noted that the 400 wealthiest Americans now own more wealth than the bottom 64 percent of the U.S. population or 204 million people.The IPS statement said White people made up 42.5 percent of the poor while Latinos consists of 27.4 percent and 22.7 percent of Blacks consisted of the impoverished.Barber introduced several participants in the Poor People’s Campaign who consists of those in the ranks of the working poor. He invited them to talk about their lives.Pamela Sue Rush, who lives in rural Alabama, talked about working a full-time low wage job and having to travel miles to Birmingham to seek treatment for her daughter as well as paying high utility bills to live in a mold-infested house that was obtained by a predatory loan.“It is so unfair,” Rush said. “People shouldn’t have to live like I live.”Barber made a point that people of color aren’t the only ones suffering from poverty and invited Nick Smith of Southwest Virginia to speak.“I am the son of a coal miner’s daughter,” Smith said, playing off of the popular Loretta Lynn song. “For many years, I could not drink the water we bathed in. When the coal companies left, there was nothing to replace them and organized labor doesn’t exist in Appalachia.”Smith said he has seen instances where poor Whites are pitted against Blacks and Browns to keep all three groups down.“Poor Whites are intentionally segregated from Blacks and Browns to keep us from organizing,” he said.The members of Congress listened to the testimony but offered no policy solutions. However, Lee suggested that there should be an effort to make sure that every American earns a living wage.last_img read more

Read More

Growth mindset found to temper impact of poverty on student achievement

first_img © 2016 Phys.org Seeing the benefits of failure shapes kids’ beliefs about intelligence Explore further This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Larkmead School. Credit: CC-BY-SA-2.5,2.0,1.0 Citation: Growth mindset found to temper impact of poverty on student achievement (2016, July 19) retrieved 18 August 2019 from https://phys.org/news/2016-07-growth-mindset-temper-impact-poverty.htmlcenter_img Journal information: Proceedings of the National Academy of Sciences The concept of intelligence is difficult to pin down, much less measure. So, too, is answering the question of whether it is possible for a person to become more intelligent by trying—most scientists in the field believe that it is mostly fixed at birth. But because it cannot be proven, people tend to have their own opinions—those who believe that a person can become more intelligent through hard work are referred to in psychological terms as having a growth mindset. Conversely, those who believe that intelligence is fixed at birth are referred to has having a fixed mindset.In order to gain some insight into whether such beliefs can have an impact on academic performance, the researchers worked with the public school system in Chile in 2012—they tested 75 percent of the entire class of 10th grade students and then monitored their academic performance. In addition to demographic questions, students were also asked questions about whether they believed intelligence was fixed at birth or whether it could be improved through hard work, such as by studying schoolwork.In studying the data, the researchers found that as expected students living in poverty tended to have much less academic success. They also found that students living in poverty were much more likely to have a fixed mindset. But they also found that those students living in poverty who had a growth mindset tended to do much better academically than those living in poverty who had a fixed mindset—so much better that their scores were nearly equal to students who were not living in poverty but who had a fixed mindset. These results, the researchers suggest, indicate that targeted interventions may help low-achieving students living in poverty perform at a higher level; however, the researchers are quick to point out that they are not advocating substituting mindset manipulation for poverty reduction programs. (Phys.org)—A trio of researchers from Stanford University has found that high school children living in poverty who have a growth mindset tend to do better in school than those with a fixed mindset. In their paper published in Proceedings of the National Academy of Sciences, Susana Claro, David Paunesku and Carol Dweck describe a study they carried out with high school sophomores in Chile, what they learned, and what their findings may indicate regarding children, education and poverty. More information: Susana Claro et al. Growth mindset tempers the effects of poverty on academic achievement, Proceedings of the National Academy of Sciences (2016). DOI: 10.1073/pnas.1608207113AbstractTwo largely separate bodies of empirical research have shown that academic achievement is influenced by structural factors, such as socioeconomic background, and psychological factors, such as students’ beliefs about their abilities. In this research, we use a nationwide sample of high school students from Chile to investigate how these factors interact on a systemic level. Confirming prior research, we find that family income is a strong predictor of achievement. Extending prior research, we find that a growth mindset (the belief that intelligence is not fixed and can be developed) is a comparably strong predictor of achievement and that it exhibits a positive relationship with achievement across all of the socioeconomic strata in the country. Furthermore, we find that students from lower-income families were less likely to hold a growth mindset than their wealthier peers, but those who did hold a growth mindset were appreciably buffered against the deleterious effects of poverty on achievement: students in the lowest 10th percentile of family income who exhibited a growth mindset showed academic performance as high as that of fixed mindset students from the 80th income percentile. These results suggest that students’ mindsets may temper or exacerbate the effects of economic disadvantage on a systemic level.last_img read more

Read More

Taj Mahal Worlds most photographed monument

first_img“It’s a matter of pride to be photographed with the Taj Mahal,” said Denis, a tourist from Australia. These days, with almost every one in possession of a mobile or a digital camera, you can see people taking selfies or posing for a group photograph with friends or relatives. Now with the Taj Mahal getting its own Twitter handle and the monument complex equipped with WiFi facility, no one misses the once-in-a-lifetime opportunity to shoot and share. The Taj has not lost its charm. It continues to remain the delight of photographers from all over the world.  Also Read – ‘Playing Jojo was emotionally exhausting’Lonely Planet’s ‘ultimate travel list’ includes the Taj in the top five tourist destinations in the world. The Taj Mahal is annually visited by over six million people. Unofficial figures are 10 million, as children below 15 do not have to purchase a ticket to enter.Each day hordes of photographers — both amateurs and professionals — shoot pictures of the white marble mausoleum, bringing joy and excitement to those who pose against its backdrop. “Many feel it’s a fulfilment of a long-cherished dream,” said Amit Sishodia of Agra Beats travel agency. Also Read – Leslie doing new comedy special with Netflix“It’s the architecture, the perspective and the unique backdrop that includes the Yamuna and a whitish skyline that appears to extend to eternity that I find most appealing,” said a city photographer Hemant. Ramesh Chandra Khandelwal, aged 90 plus, Agra’s oldest photographer who runs the more than a century old firm of Priya Lal and Sons, said the Taj Mahal will never lose its fascination and awe.“It is one building with immaculate, Nayaab dimensions, perfect lighting conditions, such variety of angles and contrasts, what else could a photographer want? And if you take into account its history and the romanticism associated with it, who would not like to be photographed with it,” said Khandelwal.  Wildlife photographer Lalit Rajora, who began his journey 18 years ago from the Taj Mahal, still cannot delink himself from the grand Mughal monument.“The grand Taj Mahal, with its enticing beauty, has an eternal fascination for me. Its aesthetic beauty, pristine craftsmanship and grandeur attracts me as a photograph does. As a photographer, when this attraction converted into an unfading romance and passion is difficult to tell. All I can say is that the Taj, under the seasonal hues of the sky enkindles my soul, gives wings to my imagination and meaning to my expression and creativity,” said Rajoria.Vijay Goyal, owner of the Speed Colour Lab, who spent 20-odd years at the Taj Mahal, shooting pictures for tourists and VIPs, said “I recall the statement of a lady tourist long back. She reacted: ‘Oh my god, this looks much better than the photograph I saw back home’.”Goyal said the Taj Mahal faces south. “The sun rises from the east on the left and traverses the whole distance to the right (west) providing different contrasts, shades and colours —never a dull moment. Each angle is different, its symmetry and geometry is perfect and flawless. There is a mix of colours — red sand-stone juxtaposed with white marble and a profusion of green vegetation, while the shades of blue and white. Rare is a man-made structure in the world that provides such a spectacular variety and mind you, there is no artificial lighting anywhere as for the Eiffel Tower or many other monuments.”last_img read more

Read More

Two killed after portion of coal mine in Pandaveswar caves in

first_imgKolkata: Two workers were killed in a coal mine at Pandaveswar in West Burdwan when a portion of it caved in on Sunday early morning.Police said the victims — Chandrasekhar Giri (42) and Kaleswar Mahato (40) — were working night shift and they got trapped when a portion of mine caved in at around 4.15 am on Sunday. The incident took place at Pandaveswar Khottadihi Coalmine.Chandrasekhar used to work as an overman while Kaleswar was a dresser.They were working at the coal mine since last night. All of a sudden, a rock slab around seven feet in length fell on them. Also Read – Rain batters Kolkata, cripples normal lifeOther workers gathered in the area and took the initiative to rescue them. Disaster Management Group of the Eastern Coalfields Limited (ECL) also went to the spot and continued the rescue work. They found the workers trapped inside the coal mine. Both of them were rescued and taken to a hospital where they were declared brought dead.The incident led to panic among other workers and immediately demanded necessary steps to check recurrence of such incidents. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedThey also demanded a probe by the ECL authorities in this connection. The victim’s co-workers demanded a compensation amount and a job for one of their family members.Other workers, who witnessed the incident, told police they heard a loud sound all of a sudden.Initially, they couldn’t understand what had happened. Later, they realised that a portion of the coalmine had caved in. Initially, they couldn’t understand whether anyone was trapped under it. But within a few minutes, it became clear to them that Chandrasekhar and Kaleswar were trapped. They cried for help and the authorities took necessary step to carry out the rescue work.”Both Chandrasekhar and Kaleswar were busy in their work when the incident took place. They did not get time to move out of the place before the rock slab fell on them,” said a worker adding that they expect that the authorities will take necessary steps so that such an incident doesn’t take place again.last_img read more

Read More

Rep Hornberger votes to bring tax relief to Michigan seniors families

first_img Categories: Hornberger News,News 25Jan Rep. Hornberger votes to bring tax relief to Michigan seniors, families Rep. Pamela Hornberger of Chesterfield Township joined her state House colleagues today in approving lower income taxes for Michigan families and seniors.The legislation continues and increases personal exemptions for Michigan taxpayers and their dependents, while providing additional relief for seniors.“I’m happy to cast votes that will save money for Michigan taxpayers,” Hornberger said. “This legislation will leave money in workers’ paychecks and help families make ends meet. It is well-deserved and long overdue tax relief.”The legislation ensures Michigan taxpayers can continue claiming personal exemptions on income taxes after federal tax reforms signed into law last month. In addition, the legislation gradually increases the state personal exemption from the current $4,000 to $4,800 for the 2020 tax year. Taxpayers in Michigan cities with an income tax will continue to be able to claim exemptions.Other legislation in the package helps senior citizens in addition to the personal exemption increase. The legislation provides a $100 income tax credit for a single filer age 62 or older – or $200 for joint filers.The bills include a provision to ensure school aid funding is not negatively affected by the legislation.House Bills 5420-22 advance to the Senate for further consideration.###last_img read more

Read More

Stofa chief technology officer Thomas Helbo Clou

first_imgStofa chief technology officer, Thomas Helbo.Cloud-based DVR services remain problematic for operators due to restrictions on the use of content rights, according to a panel of cable executives and technologists at content security provider Verimatrix’s ‘Multi-Network Solutions in the Real World’ event, which took place ahead of the main conference sessions at ANGA COM today in Cologne.Erik Meijer, senior innovation manager at Dutch cable operator Ziggo said his company is ultimately looking to add cloud-based recording as it rolls out its IP-connected CI+ TV service. However, securing rights remains a key challenge, he said. Meyer said Ziggo wanted to be able to offer all content as catch-up content but he said it is unlikely that operators will succeed in the short term, while network-based DVR is also difficult in the Netherlands, he said.Similar barriers to network-based recording exist in Germany, according to Wolfgang Zeller, vice-president of service engineering at Vodafone-owned cable operator Kabel Deutschland.“Network DVR is not economically feasible in Germany. This is really due to the studios because there is no value chain to monetise it,” said Zeller. “Technology-wise you can do a lot but the thing that is lacking is rights and the whole business model needs to be defined. If it was just up to us we would already have a network DVR service up and running, but it is not possible,” he said.Where content providers insist on operators making an individual copy per user rather than allowing network-based recordings to be shared between multiple users, or where ‘single copy per user’ is mandated by law, the cost of running network or cloud-based DVR services can be prohibitive, according to Thomas Helbo, chief technology officer of Danish cable operator Stofa.Helbo said that there is always a cost involved in recording programmes in the cloud. “One thing we have discussed is having one instance per customer when making recordings, which doesn’t make technical sense,” he said. Helbo said the economics of network DVR need to make sense for everyone and that it made no sense to insist on a particular way of doing it “just because someone wants to make sure it is a similar service to a DVR in the home.”Helbo said operators had to make sure they could make additional revenues when they launch new services generally, rather than launch things free of charge . “It is important that we do things in the right way,” he said. Operators have already launched too many services without working out any real way to make money from them, he said.DVR technology provider TiVo, which has deployed set-top-based DVR services for European operators including Virgin Media, Com Hem and ONO, is talking to new operators and is looking at a move to network DVR with a number of players, according to Joe Weber, vice-president of technology strategy. He said that rights issues remain problematic, not only for network-based DVR but also for allowing viewing on multiple devices, where studios and other content providers currently restrict consumption, typically to five devices concurrently.Weber said that in the US there are homes with a number of TVs that will continue to require multi-tuner DVR gateways and multiple set-top boxes as well as multiple tablets and mobile phones attached to the gateway. “The number of devices in each home just keeps increasing. The challenges are also to do with the rights issues,” he said.Steve Oetegenn, president of Verimatrix, said at least one operator had wanted licences to allow viewing on 30 devices concurrently. However, he said, studios want to extract maximum return on their investment and prevent, for example, two households in an apartment block sharing content. Oetegenn said that, with IP-based content security technology, it is possible to limit locations and IP addresses , enabling providers to restrict consumption to a single authenticated household.In addition to the ability to record, operators increasingly want to support viewing on multiple devices inside, and ultimately outside, the home, leading to an onward migration to IP-based video. Attendees at the Verimatrix event heard that operators are at different stages in making the transition to IP-based video, driven not only by the need to deliver multiscreen services but by mergers between cable and other service providers with IP-based fixed-line assets.Meijer said that Ziggo currently has IP video for multiscreen devices inside the home, alongside its DVB-C network. “For IP video the next step is to go outside the home,” he said, adding that Ziggo will be able to use its extensive network of IP hotspots based on users’ in-home WiFi routers to deliver out-of-home connectivity.Meijer said Ziggo is also thinking about migrating its on-demand services “and perhaps some niche linear channels” to IP. “More and more capacity will be used for IP, with less for broadcast,” he said.Kabel Deutschland currently only offers a classic cable TV service without multiscreen distribution but the acquisition of the company by mobile giant Vodafone is likely to expedite the launch of the latter and accelerate migration to IP video, said Zeller.He said that the Vodafone acquisition means that Kabel Deutschland is becoming a converged service provider. While integration of IT systems and the development of converged services will take some time, the pair will initially launch jointly branded services with a new brand identity.Zeller said Kabel Deutschland is “not yet hybrid” in the sense of offering IP linear channels on its cable network. However, Vodafone is offering IP services on its own fixed-line network.In terms of the future direction of the cable network’s migration to IP technology, Zeller said there would likely be “a race” between DVB-C2, the new DVB standard for cable broadcast, and high-speed data standard DOCSIS 3.1,. He said it is likely that Kabel Deutschland will eventually opt for IP video over DOCSIS 3.1 in the future, rather than a widespread deployment of DVB-C2. “Ultimately you want to be an all-IP network end to end,” he said.Helbo at Stofa said that about 50-60% of customers at Stofa currently have a broadband package enabling them to view multiscreen TV services from the operator. Public broadcasters’ catch-up services have also been made available on the platform and Stofa has launched a ‘restart’ service as part of its catch-up functionality.Helbo said that most consumption of video remained within the home, largely due to the cost of consuming content on 3G and 4G networks. Most out-of-home consumption is on WiFi and viewing sessions are significantly shorter when people are out of home. Most viewing is on phones out of the home rather than on tablets, he said.Helbo said that the acquisition of Stofa by energy utility SE, which has also rolled out its own fibre network, means that the company will migrate to IP video over time. Stofa is now running cable and IP video services, with hybrid boxes deployed in homes.last_img read more

Read More

Swisscoms pay TV arm Teleclub has secured the rig

first_imgSwisscom’s pay TV arm Teleclub has secured the rights to Champions League and Europa League football in Switzerland and will air public broadcaster SRG’s coverage of the World Cup in 4K UHD TV.Champions League and Europa League games will be shown on Teleclub from August 21 and every match from both competitions will be available to Swisscom viewers.Some matches will be aired unencrypted on the Teleclub Zoom channels, which will be the only Swiss channel to air the Champions League final.Swisscom is working closely with SRG to provide 4K UHD coverage of the World Cup, including HDR. Swisscom TV customers will be able to follow the tournament on SRG’s channels SRF, RTS and RSI.Swisscom will provide additional background information on fixtures before and during games, such as background reports, team line-ups, information on individual players and other tournament developments, on its EPG.“It’s as if you’re actually sat watching the game in the stadium. HDR creates an effect that is similar to the jump in quality from analogue TVs to HD TVs, particularly for football broadcasts,” said Dirk Wierzbitzki, head of products and marketing and a member of the group executive board of Swisscom.last_img read more

Read More

The BBC reported its best March ever for the iPl

first_imgThe BBC reported its “best March ever” for the iPlayer, with viewing figures helping the catch-up service to reach its third-best month on record.The Assassination of Gianni VersaceCommenting on the stats, Dan McGolpin, controller of programming and daytime for the BBC, said that Q1 2018 was the BBC’s “strongest first quarter ever” for the iPlayer.Drama was the big draw in March with 19 of the top 20 most popular iPlayer episodes fitting this genre.“Drama continues to have an extraordinary year on BBC iPlayer,” said McGolphin. “Building on a brilliant January and February, this month drama fans were treated to captivating US drama like The Assassination of Gianni Versace as well as world-class British programmes like Collateral, Strike and the ever-brilliant Call the Midwife.”Episode one of The Assassination of Gianni Versace was the most-watched programme of the month with 1.62 million requests, while episodes of Collateral, Eastenders and Strike: Career of Evil made up the rest of the top-five most-requested shows.Overall, 315 million programmes were viewed in March, up 15% on the same month last year, with 10.2 million daily requests.The BBC said that March 2018 sits just behind January 2018 and December 2017 as one of the best BBC iPlayer has ever seen. According to company stats the iPlayer had 328 million programme requests in January and 327 million in December.last_img read more

Read More

Several readers have asked why I use CDs in so man

first_imgSeveral 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.last_img read more

Read More

Saudi Arabia

first_img 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?last_img read more

Read More

In This Issue   Markets think the elections ar

first_imgIn 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 Marketslast_img read more

Read More

Study 5000 Is the SelfDriving Car Sweet Spot

first_img 2 min read Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals Tom Brant This story originally appeared on PCMag Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. An academic study suggests people are willing to pay just around $5,000 more for fully autonomous cars than typical vehicles. Add to Queue Study: $5,000 Is the Self-Driving Car Sweet Spot Sometimes it’s tough to make sense of the hodgepodge of technologies that currently describe the “self-driving car” buzzword, from lane departure warning systems all the way up to Tesla Autopilot, not to mention industry jargon like “Level 5 automation.”So why not organize autonomous driving technologies by how much people think they’re worth? That’s what a group of economists and engineers tried to do in a paper published in March, CNET reports. The model suggests that on average, Americans are willing to pay a $3,500 premium for a partially automated car and a $4,900 premium for a fully automated one. For comparison, $4,900 for full automation is very similar to what Tesla charges for its most advanced Autopilot, which costs a little over $5,000.The researchers’ model is based on interviews with 27 potential car buyers in New York City and upstate New York. As you might expect, just four of the New York City residents drove a car every day, while all of the 15 upstate New Yorkers commuted via car daily. The two groups perceived similar benefits from self-driving cars, from increased productivity and safety to easier and quicker parking.After crunching the numbers, the researchers found a fairly even segmentation of the demand for automation: about one-third of people are keenly interested and willing to pay $10,000 or more for self-driving features, one-third are ambivalent and the remainder isn’t willing to pay for automation at any price.As the researchers note, however, one of the key problems with such a study is that it’s based on a hypothetical purchase scenario: their study participants weren’t actually buying a car, and even if they were, there are very few models on the market that come with full automation on the level of the Tesla Autopilot.Still, it’s good to establish a peer-reviewed benchmark for how much self-driving tech should cost at this early stage in its development. If it follows the cheapening pattern of most other technology (and the government continues to urge its inclusion in new cars), you might one day be able to do yoga in your Toyota Corolla on the highway for far less than $5,000.center_img May 10, 2017 –shares Self-Driving Cars Image credit: Tesla via PC Mag Next Article News reporter Register Now »last_img read more

Read More

Download Entrepreneur Magazines App for Apple and Android

first_imgEntrepreneur Corporate Communications Download Entrepreneur Magazine’s App for Apple and Android 3 min read Next Article Free Webinar | July 31: Secrets to Running a Successful Family Business –shares Image credit: Entrepreneur Access the latest issues of Entrepreneur and enjoy the latest news, videos and how-to articles-in one place, on any of your Apple or Android devices, and on your own terms. Entrepreneur Media Corporate Communications Here at Entrepreneur, we are always seeking ways to make it easier for you to get the information you need to boost your business productivity. We know you’re busy—and reading and viewing the latest business advice, trends and tips should be a bright spot in your day.To improve your Entrepreneur experience, we are excited to announce the latest evolution of our mobile app. In one seamless experience, you’ll find an ongoing stream of the latest news, how-to articles, exclusive interviews and videos from Entrepreneur.com. If you’re a magazine subscriber, you can access the newest issue of Entrepreneur magazine, plus your favorite archived issues, in a new mobile-optimized display that auto adjusts across your devices.Download the Entrepreneur magazine app on your iOS or Android device and enjoy:More Content: View the latest news and videos including trending articles, exclusive interviews, infographics, and more from Entrepreneur.com. Plus, access the latest issues of Entrepreneur magazine.Interactive Features: Now use 3D Touch, Interactive Push Notifications and Save for Later, which allows you to save content and read it later offline on your preferred device (syncs user content across multiple devices) for efficient, practical reading.Easy Read, Optimized Display : Enjoy the same fluid reading experience found right here on our website, no matter what you’re reading (our magazine articles are no longer bound to a fixed PDF layout) or what you’re reading on (the presentation will auto adjust to the device and screen orientation).In short, you can now effortlessly enjoy our magazine and digital content—in one place, on any of your Apple or Android devices, and on your own terms.How Does This Work?Our improved app will retain the Entrepreneur magazine name and we will be phasing out the Entrepreneur Daily app. Here’s how you get it:If you use the Entrepreneur Magazine app on iOS or Android: You don’t need to do anything. Depending on your settings, the app update will automatically update on your device or you may be required to activate the update. That’s it!If you use the Entrepreneur Daily app on IOS: You will need to download the new Entrepreneur magazine app. If you use the Entrepreneur Daily app on Android: You will need to download the new Entrepreneur magazine app. Note: While you will have still access to all our great digital-only content, the full digital magazine articles is only available to subscribers. You can easily upgrade within the app.Thank you for your past and continued readership. We look forward to bringing you the business productivity content you need in an easy-to-read format you’ll enjoy.Download the Entrepreneur magazine app on your iOS or Android device now. Add to Queue Register Now » May 26, 2017 Learn how to successfully navigate family business dynamics and build businesses that excel. Opinions expressed by Entrepreneur contributors are their own.last_img read more

Read More