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.”
About 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.”
LEICESTER, England – The flight data recorder from the helicopter that crashed with the Leicester soccer team’s owner on board is being examined by investigators, authorities said, as his family and players paid tribute Monday at a makeshift shrine.Vichai Srivaddhanaprabha and four others were killed when the aircraft spiraled out of control, crashed and burst in flames outside the King Power Stadium following a Premier League game Saturday.Aiyawatt Srivaddhanaprabha, son of the Thai retail entrepreneur, brought a wreath to add to a collection of flowers, jerseys and club memorabilia that was growing after the disaster. Fans who gathered to pay respects broke into applause when Aiyawatt returned to the memorial with the players.Investigators are expected to remain at the site until the end of the week, when the wreckage is to be taken to special facilities for examination, the Air Accidents Investigation Branch said.“We recovered the digital flight data recorder (voice and data) on Sunday afternoon and one of our inspectors travelled back to Farnborough with the recorder the same evening,” the AAIB said in a statement. “Today, our inspectors in Farnborough will start working on the recorder, which was subject to intense heat as a result of the post-accident fire.”Police have not given an update on the investigation but wrote on Twitter its drone “was not in flight at the time the helicopter left the stadium.”Although only with Leicester for eight years, Vichai had a lasting impact on English soccer as the owner of the team that produced one of the greatest shocks in sports by winning the Premier League title at 5,000-1 odds in 2016.Through horse racing and polo, the owner of Thailand’s King Power duty-free chain became known to members of the British royal family, playing on occasion with Princes Charles and William. He spent millions establishing his polo team, the King Power Foxes, which began in 2014 and has enjoyed success at the top levels of competition in Britain.“I was lucky to have known Vichai for several years,” said Prince William, the second-in-line to the British throne. “He was a businessman of strong values who was dedicated to his family and who supported a number of important charitable causes. He made such a big contribution to football, not least through Leicester City’s magical 2016 season that captured the imagination of the world.”Vichai’s close bond with the community in Leicester was reflected in the tributes to the owner who bankrolled the team’s return to the Premier League in 2014 and the improbable title triumph.“The outpouring of grief is a testament to how many people’s lives were touched by those on board,” Prime Minister Theresa May said.Two members of Vichai’s staff, Nursara Suknamai and Kaveporn Punpare, also died along with pilot Eric Swaffer and co-pilot Izabela Roza Lechowicz. In a regular scene after matches that had become a symbol of Vichai’s ownership, the helicopter took off from the centre circle on the field after Saturday’s game against West Ham. It cleared the stadium roof before it plummeted into an adjacent parking lot in flames.Leicester’s next game, which had been scheduled for Tuesday against Southampton in the League Cup, has been postponed.___More AP soccer: https://apnews.com/tag/apf-Soccer and https://twitter.com/AP_Sports
Arsha (WB): A BJP activist’s son was found hanging from a tree on Thursday morning in Arsha block of Purulia district, police said. Sishupal Singh (22), the son of a BJP activist and local panchayat committee member, was missing since Wednesday, Purulia Superintendent of Police (SP) Akash Magharia said. “A missing complaint was filed by Singh’s family members Wednesday evening. He was spotted hanging from a tree on the outskirts of Senabona village around 9am by the locals, who then reported the matter to the police station,” he said. Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari Puja It’s a case of “unnatural death” and the body has been sent for post mortem, the SP said, adding that an investigation has been initiated into the matter. Last June, Dulal Kumar, a member of the saffron party, was also found hanging from a power transmission tower in Purulia district’s Dava village. The state CID started an investigation into Dulal’s death, following a huge protest by the BJP. Soon after, Joy Biswas was replaced by Magharia as the district superintendent of police.
If you are finding it hard to deal with the pressure at the workplace, there is more reason to worry. New research has found that work stress and impaired sleep are linked to a threefold higher risk of cardiovascular death in employees with hypertension. “Sleep should be a time for recreation, unwinding, and restoring energy levels. If you have stress at work, sleep helps you recover,” said study author Karl-Heinz Ladwig, Professor at Technical University of Munich, Germany. Also Read – An income drop can harm brainCompared to those with no work stress and good sleep, people with both risk factors had a three times greater likelihood of death from cardiovascular disease, showed the findings published in the European Journal of Preventive Cardiology. People with work stress alone had a 1.6-fold higher risk while those with only poor sleep had a 1.8-times higher risk, the study said. In the study, work stress was defined as jobs with high demand and low control — for example when an employer wants results but denies authority to make decisions. “If you have high demands but also high control, in other words you can make decisions, this may even be positive for health,” said Ladwig.
The field for the inaugural College Football Playoff (CFP) was finally set Sunday, but — in true college football style — it wasn’t without controversy. The 12-person CFP selection committee chose Alabama, Oregon, Florida State and Ohio State, arguably snubbing Big 12 co-champions Baylor and (especially) TCU.The last four teams standing are exceptional. The Ducks, Crimson Tide and Buckeyes rank Nos. 1, 2 and 3, respectively, in ESPN’s Football Power Index (FPI). And although the Seminoles have been unconvincing throughout the season, it would have been difficult to justify leaving the undefeated, defending national champion out of the playoff — No. 10 FPI ranking be damned. So, the committee may well have made the best decision it could have, according to its mandate to select the nation’s four best teams.But by ranking TCU third (ahead of both Florida State and Ohio State) the week before the conference championships, the committee also set itself up to violate the precedent of how college football rankings have always worked. That’s why, even after previous No. 5 Ohio State rolled over No. 13 Wisconsin 59-0, the FiveThirtyEight College Football Playoff model — which is based on a historical analysis of Coaches Poll voters’ tendencies — saw little chance that TCU would drop from third place to fifth or lower in the committee’s final rankings.Using the traditional media polls as a guide, that was a reasonable assumption. Since the advent of the Bowl Coalition in 1992, only four times (in 214 opportunities) did the third-ranked team in the AP poll drop below fourth place the week after it won a game over an FBS opponent. All four of those teams (Florida State in Week 1 of the 2002 season, Ohio State in Week 3 of 2003, Tennessee in Week 1 of 2005 and Ohio State in Week 2 of 2008) posted victory margins that underwhelmed their pregame FPI expectations. By contrast, TCU beat its pregame expectations by 19 points in thrashing Iowa State. (And it bears repeating that none of those cases took place any later than the third week of a season, when you would expect voters to still be sorting out the order of teams.)And yet TCU did drop in the committee’s rankings — from third place to sixth, below Florida State, Ohio State and even Baylor (whom the committee had controversially slotted beneath TCU in every previous edition of its rankings, seemingly ignoring the Bears’ head-to-head victory over the Horned Frogs on Oct. 11). It was a stunning fall that, for better or worse, seemed to contradict the way college football teams traditionally move in the rankings.TCU’s exclusion also broke with tradition from another standpoint. Using poll data since 1992, I ran a logistic regression attempting to predict whether a team would finish the regular season in the AP’s top four based on various “résumé” statistics provided by ESPN’s Stats and Info Group. The factors that emerged as significant were a team’s winning percentage (modified slightly by Laplace’s Rule of Succession), its average points-per-game margin, its strength of schedule (according to the average FBS team’s expected winning percentage against its schedule using FPI), and whether it won its conference or not.This year, those criteria would have yielded the following probabilities of making the top four (assuming the committee would follow the pollsters’ traditional logic):(Note: Baylor and TCU were co-champions of the Big 12; for the purposes of the regression, they were each treated the same as a team that was sole champion of its conference.)It’s not outside the realm of plausibility that historical voters would exclude TCU and include Ohio State on the basis of their résumés alone (this method shows there was a 16 percent chance that would happen). In fact, the real AP poll dropped TCU from fourth to sixth, with two teams (Baylor and Ohio State) hurdling the Horned Frogs.It is, however, another way to underscore that the playoff committee may be rethinking the way college football teams have been ranked at the end of the season. As FiveThirtyEight’s editor in chief, Nate Silver, wrote in his final assessment of the committee’s selection, the sport’s old algorithm rarely entailed a top-to-bottom reassessment of the field this late in the year (voters usually just made slight adjustments to teams’ rankings after losses or big wins; otherwise the current rankings were basically enslaved to the previous rankings). The committee’s final rankings, on the other hand, suggest it sorted the teams from scratch after the conference championships, with no allegiance to its previous choices.That’s not necessarily a bad thing. But, like the existence of a playoff in the first place, it’s a new thing.
The Warriors were 17-4 during the regular season with average shooting. That equals a .810 winning percentage — tops in the the NBA — or the equivalent of a 66-16 record over an 82-game schedule.The reason for the Warriors’ strong record with average shooting is simple: They also play great defense. It gets overlooked because they play at a frenetic pace, but the Dubs held opponents to a .514 TS% during the regular season, the third-best figure in the league after Chicago and Portland.It can get even worse for opponents, and it often does: The Warriors went 46-3 with good shooting during the regular season. But “pretty good” shooting — average shooting, even — is usually plenty good enough for the Warriors. They’ll need to throw up a lot of bricks the rest of the way. Otherwise, James — as brilliant as he’s been — may become the first finals MVP in a losing cause since Jerry West in 1969. Through the first three games of the NBA Finals, the storylines were intricate and rich:Could LeBron James carry one of the worst supporting casts in recent finals history to an NBA title?Was James’s experience — and sheer force of will — trumping the Golden State Warriors’ youth?Was Steph Curry just in a shooting slump, or was he rattled by his scary injury against the Houston Rockets?Could the Cleveland Cavaliers keep playing stifling defense, or might Golden State’s smallball lineup be its ace in the hole?Were Cleveland’s poor finishes — it was outscored by a combined margin of 105-84 in the fourth quarter and overtime of the first three games1And if you include Game 4, it’s now been outscored 132-96 from the fourth quarter onward. — the sign of a spent team?Was Kevin Love’s injury (suffered in the opening round against the Boston Celtics) the ultimate example of Bill Simmons’s Ewing Theory? And maybe Kyrie Irving’s injury too?Is Matthew Dellavedova the Australian Tim Tebow?Does God hate Cleveland?But after a 103-82 Golden State win in Game 4, it all seems so simple.The Warriors are really, really good. You have a shot at beating them if their shooting goes ice-cold. Otherwise, it’s next to impossible.Let’s review the series from the standpoint of true shooting percentage (TS%), a relatively simple stat that gives appropriate credit for 3-pointers and free throws along with 2-point shooting attempts. Golden State led the NBA with a .571 TS% during the regular season, while Cleveland (.557) ranked fourth. The adjacent table lists each team’s TS% in each finals game so far, along with its percentile rank as compared to all NBA games during the 2014-15 regular season.Game 4 was the first time we’ve seen the Warriors shoot like they typically did during the regular season. Their .579 TS% was close to their regular-season average, and — since an average Golden State performance is so good — ranks in the 77th percentile as compared to all NBA games.But the Warriors’ defense has also been very good. It held Cleveland to a .409 TS% in Game 4, which ranks in just the 1st percentile. And it kept the Cavaliers to a .441 TS%, in the 6th percentile, in Game 2 on Sunday night.Wait — didn’t the Cavs win Game 2? They did (in overtime). The team with the higher TS% wins about 85 percent of the time2Based on the 2014-15 regular season. — this was one of the exceptions. Cleveland was able to take seven more field-goal attempts and 15 more free-throw attempts than the Warriors as a result of rebounding, turnovers and fouls. You can win as the slightly less efficient team when there’s a big differential in those categories.Still, Cleveland wouldn’t have won Game 2 had Golden State shot a little better. If the Warriors had hit shots at the NBA average TS% of .535 (never mind that the team’s TS% is typically way better than that), they’d have scored an additional eight points and won 101-95.And that’s the thing: The Warriors don’t have to shoot the lights out to win. If they shoot as well as the average NBA team, they’re very likely to win also.In the next chart, I’ve tracked each team’s record based on its TS% during the regular season. I divide games into three categories, which include about a third of regular-season games each:Good shooting — a TS% of .560 or higher.Poor shooting — a TS% of .510 or lower.Average shooting — anything in between.
Arsenal 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.Merson 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.
Facebook0TwitterEmailPrintFriendly分享Update -Friday According to Anchorage Police only minor injuries were sustained during the two vehicle collision. UPDATE 11:50amBoth lanes of the Seward Highway have been reopened at Mile 109. The closure is valid from 10:57 a.m., until 2:57 p.m. Original PostThe Seward Highway is closed near milepost 109 due to a crash/vehicle fire according to the Department of Transportation. According to the DOT, drivers should watch for police and fire trucks on the highway. Limited details are known at this time, updates will be posted as they are made available.
Preview • 2019 Lamborghini Aventador SVJ: Verdant velocity Lamborghini Aventador SVJ 63 Roadster, Huracan EVO GT Celebration dazzle 2020 Audi R8 first drive: Improving an already fantastic supercar Comment Monterey Car Week 2019 Lamborghini 5:37 More about 2019 Lamborghini Aventador SVJ 1 More From Roadshow Tags 2019 Lamborghini Urus review: Part SUV, part supercar Exotic Cars Performance Cars 2020 Lamborghini Huracán Evo Spyder first drive: Worth every sunburn Lamborghini’s Aventador SVJ is more than a ‘Ring monster Now playing: Watch this: 62 Photos Enlarge ImageJust 63 of these supercars will be made. Antuan Goodwin/Roadshow It certainly wouldn’t be Monterey Car Week without a flood of new concept cars and supercars. Lamborghini didn’t disappoint and revealed not one but two models on Friday. First up is the Lamborghini Aventador SVJ 63 Roadster. Naturally, it follows the SVJ 63 Coupe revealed previously and it’s also limited to, as the name implies, 63 units globally. The production figure corresponds with the Italian firm’s founding year of 1963. Any 1 percenters looking to add a new supercar to the garage will have the chance to select one of eight design motifs for the SVJ 63 Roadster, though the photos depict the matte gray Grigio Acheso with orange details. The car also sports a set of matte titanium wheels and a special carbon-fiber part that covers roof, engine cover, engine air vents, windshield surround and mirrors. There will be no mistaking this special edition for any other Aventador as it wears a “63” livery inside and out, too. The cockpit of this Aventador SVJ 63 Roadster features gray and orange to match the exterior, though it shares other elements with the seven additional design motifs. Each of the 63 cars will come with tri-tone Alcantara upholstery, carbon-fiber trim and a steering-wheel badge to mark the SVJ 63 Roadster’s significance. Like all other SVJs, a 6.5-liter V12 makes 760 horsepower. Enlarge ImageLamborghini is proud of its racing success so far, so it made a tribute model. Antuan Goodwin/Roadshow If the Aventador SVJ 63 isn’t flashy enough for you, the Huracan EVO GT Celebration should do the trick. It honors the Huracan EVO GT3 race car that’s come off of two banner racing seasons, including two consecutive wins at the 24 Hours of Daytona and 12 Hours of Sebring. The company said it will build 36 of these cars — the sum of 24 and 12 to represent the EVO GT3’s dominance on the track. The wild green and orange livery is meant to evoke the GRT Grasser Racing Team livery, which is one of the teams that’s contributed to Lamborghini’s winning streak. I admit, it’s rather polarizing, but the company said there are eight other combinations to choose from with three other colors. No matter which color, the livery style stays the same, as does the racing number 11. Badging and vinyl also mark the race car’s championship wins on the sides and near the engine bay. Finally, the Lamborghini Squadra Shield is an option for the roof with the Italian and US flags framing it. Meanwhile, the interior features the shield, flags and laurel as standard equipment and color-contrast stitching depending on which color scheme an owner chooses. Like other Huracáns, a V10 provides the power. A shame if you’re not local to North America because other global buyers won’t have the chance to own an Huracan EVO GT Celebration. Both special-edition cars will arrive in early 2020. Share your voice Lamborghini
The oil price increase following the death of Saudi Arabia’s King Abdullah is unlikely to continue as there is an oversupply in the crude market, say industry sources.In a television speech, newly-anointed King Salman said that he will stick with his predecessor’s policies. The royal decree stated that Oil Minister Ali al-Naimi’s role will not change.Saudi Arabia is a key constituent of the Organization of Petroleum Exporting Countries (OPEC) cartel. At the OPEC meeting held in November 2014, al-Naimi declined to cut output “despite a slide in prices, marking a shift in strategy toward defending market share rather than supporting price,” Business Insider reports. This move irked fellow exporters, Iran and Venuzela.Oil GlutPointing at the oversupply in the oil market, Stephen Schork – President of Schork Group – noted that even as the King’s death matters, it does not change the fundamentals; maintaining that Saudi Arabia would try to preserve their market share.Brent crude rose as high as 2.6 percent on Friday after the King’s death was announced.King Salman ReutersThe markets knew beforehand that Salman, in his previous role as the Crown Prince, backed the policies of late King Abdullah, eliminating any uncertainty, LiveMint reports.The kingdom is unlikely to face in-fighting, as the hierarchy is well defined. However, the question that is worrying the people is whether they will witness any progression under the new king, in a place that is long known for being very conservative.Ali al-Naimi Saudi Arabia’s Oil Minister Ali Al-Naimi attends the First Gulf Cooperation Council (GCC) Petroleum Media Forum in KuwaitReutersAli al-Naimi has served the kingdom as its Oil Minister since 1995. He sets the oil policy for the kingdom in consultation with the ruling family. He also represents the nation at the OPEC cartel and holds considerable control. The 79-year-old is also the chairman of the board of the King Abdullah University of Science and Technology (KAUST).The nation produces more than a tenth of the world’s crude oil and is the only nation that can act as a swing producer. Saudi Arabia depends on oil for 46 percent of its GDP, though in the recent years, it has been trying to emulate Dubai’s infrastructure boom.
The Delhi High Court on Wednesday asked top officials of the Delhi Development Authority (DDA), the South Delhi Municipal Corporation (SDMC) and the Delhi Metro to be personally present in court to explain the work done by them to clean up Dwarka sub-city.A division bench of Justice B.D Ahmed and Justice Sanjeev Sachdeva summoned DDA’s chief engineer, Dwarka, SDMC’s chief engineer, DEMS, and Delhi Metro’s deputy general manager, civil, on February 25. Also Read – Company director arrested for swindling Rs 345 croreThe court’s direction came after noting that the agencies are not doing anything to make the area clear despite its directions.“We thought in this small area, you (various agencies) will so some work. But nothing is happening,” the bench observed. Ebbani Aggarwal, a law student and resident of Dwarka, who had filed a public interest litigation (PIL) told the court that the markets, roads, footpaths and open vacant land and other places in Dwarka sub-city were full of litter, filth, rubbish, solid waste and remains of construction material.
Hardly has any novel been awaited with as much curiosity and anticipation in recent times as Vikram Seths sequel to the monumental ‘A Suitable Boy’ (1993). Five years on, since he was first expected to deliver the manuscript, the novel is still to see the light of the day. But what seems like a saga of missed deadlines can very well – far from our eyes – be a masterpiece in the making.”The more I talk of her, the more shy she becomes,” Seth had told this correspondent in 2015 about ‘A Suitable Girl’, the novel-in-waiting. Also Read – Add new books to your shelfSeth, as his literary agent David Godwin puts it, has been known to take his time with his books. The prolonged delay, however, was not acceptable to Hamish Hamilton and he was asked to return an advance payment of $1.7 million when the deal was called off. Weidenfeld and Nicolson, an imprint of the British publisher, then acquired the novel – and it was scheduled to release in 2016. But a flying bird – a friend and confidant of the writer – says that he is now giving the “final touch” to the novel and that one can expect “the big announcement” soon. Also Read – Over 2 hours screen time daily will make your kids impulsiveSeth released a collection of poems titled ‘Summer Requiem’ in the meanwhile. In the collection, he traces the immutable shiftings of the seasons, the relentless rhythms of a great world that both “gifts and harms”. Composed as they were while he was (which he still is) writing the sequel, several poems in the offering open doors to his mind, or perhaps they may be preludes to the larger narrative that he is weaving. “I have so carefully mapped/the corners of my mind/that I am forever waking/in a lost country,” he writes in the opening poem. Interestingly, Seth’s companion to ‘A Suitable Boy’ will be a jump sequel – the characters have travelled from the 1950s and it will be very much a novel set in somewhat the present times. In its title poem, he mourns that the “liberated generation lives a restrained youth,” and then adds: “I must forsake attachment”. On another occasion in the book, readers find him lamenting over “the peaceful love” that the narrator has “never found”. In another short poem “Late Light” he writes: “Outside the great world’s gifts and harms/ There must be somewhere I can go/To rest within a lover’s arm/At ease with the impending snow”. Reportedly, Seth suffered from writer’s block after his break-up with French violinist Phillippe Honor but that was a long time ago and was reflected in ‘An Equal Music’. He has moved on or has he not? Nonetheless, it has been about five years since ‘A Suitable Girl’ was first expected to hit the stands but the wait is surely worth it. As writer-politician Shashi Tharoor says about his good friend’s technique – that “Vikram Seth draws an entire roadmap of his novel, planning every minute element in great detail” – the sequel, thanks to all the anticipation and the pressure on the writer, may actually be a masterpiece in the making, as sublime as its counterpart and yet set in the time of its readers. Vikram Seth is a recipient of the Padma Shri, Sahitya Akademi Award, and among several other prestigious honours, the Pravasi Bharatiya Samman. He has been widely translated and is among leading novelists on the global stage. He has published three novels – ‘The Golden Gate’ (1986), ‘A Suitable Boy’ (1993) and ‘An Equal Music’ (1999) – along with several collections of poetry such as ‘Mappings’ and ‘All You Who Sleep Tonight’. Seth – an openly gay man – is also one of the prominent faces of the campaign against Section 377 of the Indian Penal Code that criminalises homosexuality.
Kolkata: The Mamata Banerjee government on Tuesday appointed an IAS officer to take charge of the recently constituted monitoring cell for proper implementation of government schemes and to probe allegations of taking money (referred to as cut money) against giving benefits under the schemes.IAS Barun Ray, the 1992 batch officer who has been given the charge of the cell, was posted as commissioner, Malda division. Ray has also been transferred to the post of commissioner, Burdwan division. Also Read – Rs 13,000 crore investment to provide 2 lakh jobs: MamataHe will hold the charge of OSD at the Chief Minister’s Office (CMO) in the rank of principal secretary in charge of Monitoring of Programme Implementation and Grievance Cell. Chief Minister Mamata Banerjee had opened the cell for “Programme Implementation of Government Schemes and Redressal of Grievances/Complaints” and announced a toll-free number for lodging complaints. The cell has received 1,500 complaints so far. Once a beneficiary from the districts raises his/her issue with the CMO through email at firstname.lastname@example.org, it will be thoroughly examined and replied to within 10 days. Also Read – Lightning kills 8, injures 16 in stateThe new and unprecedented approach is aimed at refining the whole delivery mechanism system of the schemes in the state. The fundamental objective of the move is to reach out to the marginalised benefici- aries. Colonel (retired) Diptangshu Chowdhury, who heads the cell, has visited the districts and interacted with the beneficiaries who have been denied government welfare scheme benefits or harassed while receiving such benefits. The state government has asked police superintendents to initiate cases on complaints of accepting cut money under Section 409 of the Indian Penal Code, which calls for a maximum punishment of life imprisonment.
Video Loading Video Unavailable Watch Next StokeonTrentLive – we’re #localandproud Share this video Click to playTap to play StokeonTrent Live – we’re #localandproudStokeonTrent Live – we’re #localandproudVideo Player is loading.Play VideoPauseUnmute0:00/1:20Loaded: 0%Progress: 0%Stream TypeLIVE-1:20 SharePlayback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMute0:00/0:00Loaded: 0%Progress: 0%Stream TypeLIVE0:00 Playback Rate1xFullscreenClose Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button. Click for Sound Watch again Video will play in We pay for stories! Send your videos to email@example.comHello and welcome to Stoke-on-TrentLive’s breaking news service bringing you all the latest updates from Stoke-on-Trent and North Staffordshire on Monday, November 12. Our team of reporters will be updating this live service with all the latest on the traffic and travel and weather updates – as well as news and entertainment through the day. We’ll be bringing you the very latest updates in our live news feed below. For the latest news and breaking news visit www.stokeontrentlive.co.uk Get all the big headlines, pictures, analysis, opinion and video on the stories that matter to you. Follow us on Twitter @SOTLive – the official Sentinel account – real news in real time. We’re also on Facebook – your must-see news, features, videos and pictures throughout Stoke-on-Trent, North Staffordshire & South Cheshire. Want to tell us about something going on where you live? Let us know – Tweet us @SOTLive or message us on our Facebook page . And if you have pictures to share, tag us on Instagram at StokeonTrentLive . 17:59All lanes reopenedAll lanes have now reopened.17:56Traffic held due to accident on M6A Highways England spokesman said:M6 northbound between J21 and J21A we have all traffic stopped due to a collision between a car and HGV. Delays building quickly on the approach. Please allow plenty of extra journey time. will keep you updated. “17:20Broken down vehicle causing delays on M6One lane blocked and slow traffic due to broken down vehicle on M6 Southbound between J18 A54 Middlewich Road (Middlewich / Holmes Chapel) and J17 A534 Old Mill Road (Sandbach / Crewe). In the roadworks area.Lane one (of three) is blocked.17:09Three remain in hospital two days after A53 horror crash killed 64-year-old womanPolice are appealing for witnesses or anyone with dashcam footage to come forward. More here.16:13Incident in Wolstanton involves minor injuries onlyWest Midlands Ambulance Service have confirmed they are treating two patients after an accident on High Street in Wolstanto – although neither are believed to have been seriously injured.A spokeswoman said:We were called just after 3.30pm. We had two ambulances and a paramedic officer on scene. Now there is just one ambulance and we are treating two patients.” 16:09Accident in Wolstanton involves car and pedestrianSlow traffic due to accident, pedestrian and vehicle involved on A527 High Street at B5368 Silverdale Road.Sources confirm there is no blockage on the road however delays remain in both directions. 15:56Accident in WolstantonA527 High Street partially blocked, slow traffic due to accident at B5368 Silverdale Road. (Image: Inrix)15:26Haslington councillor John Hammond diesHe had served on the council since 2008. More here.Councillor John Hammond represented Haslington at Cheshire East Council (Image: Cheshire East Council)12:46One lane closed due to broken down vehicle on M6 Southbound between J15 A500 (Stoke-On-Trent) and J14 A5013 (Stafford North). In the roadworks area. Lane two (of three) is closed. 12:44 (Image: Staffordshire Police)Detectives are hunting for the owner of a rare antique knife after it was stolen from a Staffordshire town over the weekend.The antique carving knife was found in the North Walls area of Stafford at around 2pm on Saturday afternoon (November 10) and officers are keen to reunite it with its owners.Staffordshire Police believe the knife could have been taken from its original owner due to its rarity.Read more.12:07 One lane blocked and heavy traffic due to broken down car on M6 Northbound from J18 A54 Middlewich Road (Middlewich / Holmes Chapel) to J19 A556 Chester Road (Knutsford). In the roadworks area. Lane one (of three) is blocked.11:24Heavy traffic on Brownhills Road / Davenport Street / Newcastle Street between A500 (Porthill Bank) and Tunstall. 11:11Queuing traffic due to the problems on the M6 on A534 Old Mill Road Northbound from B5079 / Crewe Road (Wheelock Roundabout) to M6 J17 (Sandbach / Crewe).10:57Slow traffic on A52 Werrington Road Westbound before A52 Leek Road (Lime Kiln Traffic Lights). 10:5410:54One lane closed and queueing traffic due to broken down car on M6 Northbound from J16 A500 (Stoke-On-Trent / Crewe) to J17 A534 Old Mill Road (Sandbach / Crewe). In the roadworks area. Lane two (of three) is closed. Breakdown has occurred within the residual delays on an earlier accident.10:37 A500 Northbound exit slip road partially blocked, slow traffic due to accident at M6 J16 (Stoke-On-Trent / Crewe). Lane one (of two) closed. Around Stoke-on-Trent.10:28A motorcyclist suffered suspected life changing injuries following a collision involving a car this morning.Police officers reported a collision between a bike and a car on Within Lane, Stafford , at around 9am today (November 12).The Staffordshire and West Midlands Serious Collision Investigation Unit had asked people to avoid the area as the road had to be closed off.Read more.10:22A34 Newcastle Road busy but moving between Springfield Retail Park and A500 D Road (Hanford Interchange). 10:08All M6 lanes are now reopen.The vehicles have now been moved into the Smart Motorway roadworks and all lanes reopened. There are delays of around 4.5 milies.09:53M6 lane reopenOne lane is now reopen following a collision on the M6.09:42Updates: Traffic held on M6 due to two-vehicle collision (Image: Highways England)Traffic has been held on the M6 in Cheshire because of a collision between a HGV and a car.The nortbound carriageway between junction 16, Crewe, and junction 17, Sandbach, was closed off shortly after 9.30am today (November 12).North West Motorway Police and Highways England are currently on the scene.Read more09:2909:24 A527 Porthill Road busy but moving at A500 D Road / Longbridge Hayes Road / Longbridge Hayes Road (Porthill Bank). 09:23Delays likely as THIS wide-load travels through the region today (Image: Staffs Police TST)Motorists have been told they face delays this morning as a 405ton, 69m long electrical transformer travels through Staffordshire and Cheshire.The transformer will be leaving GE, Lichfield Road, Stafford, at 9.30am today and will travel along Weston Road towards Beaconside, Redhill, and the A34 towards Stone and then Newcastle.It will then travel towards Talke where Staffordshire Police will hand over to colleagues in Cheshire at around midday today.The slow moving transformer will stop at Browns Bank, Congleton, around 90 minutes later.Read more.09:00Weather updates08:50 Traffic returned to normal on M6 Northbound from J18 A54 Middlewich Road (Middlewich / Holmes Chapel) to J19 A556 Chester Road (Knutsford). 08:19 Advance Warning – Abnormal load travelling from A34 Red Bull traffic lights. The load will continue through Congleton until it reaches Browns Bank on the A54. From 9:30 until 11:00 on 12th November. 08:12 Queuing traffic on A527 Biddulph Road coming from Brindley Ford Southbound at A5272 High Lane roundabout. Travel time is five minutes. 08:11 Slow traffic on A34 Newcastle Road between Springfield Retail Park and A500 D Road (Hanford Interchange). Travel time is four minutes. The video will start in 1Cancel Play now
Banff National Park is the oldest national park in Canada, which was established in 1885 in the Rocky Mountains. The park, located 110–180 kilometres west of Calgary in the province of Alberta, covers 6,641 square kilometres of mountainous terrain, with numerous glaciers and ice fields, dense coniferous forest, and alpine landscapes.Source: Expedia
Freesat, a new low-cost digital platform for Romania, has launched on the Eutelsat 16A satellite.Freesat joins the already crowded Romanian DTH market with a very low-cost offering, providing a range of standard and HD channels for an annual subscription of RON99 (€23) and the purchase of a conditional access smartcard.The platform includes popular Romanian commercial and public channels such as TVR 1, TVR 2, Pro TV, AcasaTv, ProCinema, Sport.ro, KanalD, Prima, NationalTV, FavoritTV, TVR HD TVR 3, TVR News, TVR International, Etno TV, Taraf TV and West TV.“Our objective is to give Romanians access to digital television choice at a great price with the highest quality and to reach the maximum number of homes using Eutelsat’s established neighbourhood at 16° East,” said Serban Belenes, general manager of Freesat. “We believe that Freesat’s proposal of no monthly bill and no commitment is a key asset. With 99 lei, you have your favourite channels for a full year – no worries, no subscription.”
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