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Tansy_Gold

(17,817 posts)
Sun Nov 30, 2014, 10:42 PM Nov 2014

STOCK MARKET WATCH -- Monday, 1 December 2014

[font size=3]STOCK MARKET WATCH, Monday, 1 December 2014[font color=black][/font]


SMW for 28 November 2014

AT THE CLOSING BELL ON 28 November 2014
[center][font color=green]
Dow Jones 17,828.24 +0.49 (0.00%)
[font color=red]S&P 500 2,067.56 -5.27 (-0.25%)
[font color=green]Nasdaq 4,791.63 +4.31 (0.09%)


[font color=green]10 Year 2.17% -0.05 (-2.25%)
30 Year 2.89% -0.02 (-0.69%) [font color=black]


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[font size=2]Market Conditions During Trading Hours[/font]
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(click on link for latest updates)
http://tools.investing.com/market_quotes.php?
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
[/center]





[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout


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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.
08/01/13 Fabrice Tourré convicted on six counts of security fraud, including "aiding and abetting" his former employer, Goldman Sachs
08/14/13 Javier Martin-Artajo and Julien Grout charged with wire fraud, falsifying records, and conspiracy in connection with JP Morgan's "London Whale" trade.
08/19/13 Phillip A. Falcone, manager of hedge fund Harbinger Capital Partners, agrees to admit to "wrongdoing" in market manipulation. Will banned from securities industry for 5 years and pay $18MM in disgorgement and fines.
09/16/13 Javier Martin-Artajo and Julien Grout officially indicted on charges associated with "London Whale" trade.
02/06/14 Matthew Martoma convicted of insider trading while at hedge fund SAC (Stephen A. Cohen) Capital Advisors. Expected sentence 7-10 years.
03/24/14 Annette Bongiorno, Bernard Madoff's secretary; Daniel Bonventre, director of operations for investments; JoAnn Crupi, an account manager; and Jerome O'Hara and George Perez, both computer programmers convicted of conspiracy to defraud clients, securities fraud, and falsifying the books and records.
05/19/14 Credit Suisse, which has an investment bank branch in NYC, agrees to plead guilty and pay appx. $2.6 billion penalties for helping wealthy Americans hide wealth and avoid taxes.
09/08/14 Matthew Martoma, convicted SAC trader, sentenced to 9 years in prison plus forfeiture of $9.3 million, including home and bank accounts







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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]


30 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
STOCK MARKET WATCH -- Monday, 1 December 2014 (Original Post) Tansy_Gold Nov 2014 OP
adding another cartoon Crewleader Dec 2014 #1
China Overtakes Japan as World’s Second-Biggest Stock Market Demeter Dec 2014 #2
China Drafts Bank Deposit Insurance in Move to Free Rates Demeter Dec 2014 #3
Oil Prices Are Plunging Even Lower xchrom Dec 2014 #4
Here's What A Sustained $20 Drop In Oil Prices Does To The World's Major Economies xchrom Dec 2014 #5
European Markets Are Sinking xchrom Dec 2014 #6
Black Friday Sales Plummeted This Year xchrom Dec 2014 #7
Any rationalization, to avoid the truth Demeter Dec 2014 #8
we have nice weather right now. xchrom Dec 2014 #19
Our high on Sat was only 51 but today we started out with a -21 windchill; high of 9 later. Brrr. kickysnana Dec 2014 #28
That wind today is like a knife Demeter Dec 2014 #29
Dominique Strauss Khan's Investment Banking Venture Just Went Bust NOVEMBER 5 Demeter Dec 2014 #9
Moody's Downgrades Japan On Concerns About The Prospects For Abenomics xchrom Dec 2014 #10
Prospects for Abenomics are excellent! Demeter Dec 2014 #20
Court Says By Agreeing To AOL's Terms Of Service, You've 'Consented' To Search By Law Enforcement Demeter Dec 2014 #11
Global Investors Are Cutting Stocks And Betting On Cash xchrom Dec 2014 #12
The Fed Is Rattled By Elusive Inflation, But Loath To Sound Alarm xchrom Dec 2014 #13
Americans Killed by Cops Now Outnumber Americans Killed in Iraq War LAST YEAR'S COUNT Demeter Dec 2014 #14
Europe's Industry Is On The Edge Of A Recession xchrom Dec 2014 #15
The 10 Most Important Things In The World This Morning xchrom Dec 2014 #16
Another theory--can't spend what you don't have Demeter Dec 2014 #21
Overtime Pay Is Crucial For A Strong Middle Class xchrom Dec 2014 #17
WORLD STOCKS, OIL DOWN ON CHINESE, US DATA xchrom Dec 2014 #18
A large reason oil is down is putting the screws on Putin Warpy Dec 2014 #30
Why The World Needs Fewer Cops (AND MORE FORENSIC ACCOUNTANTS!) Demeter Dec 2014 #22
Obama Plans Meetings on Ferguson Unrest at the White House Demeter Dec 2014 #23
Most Business People Say Their Privilege Is Well Deserved: Agree or Disagree? Demeter Dec 2014 #24
Rouble suffers worst fall since 1998 crisis Demeter Dec 2014 #25
Click Here for Thin Mints: Girl Scouts Now Sell Cookies Online Demeter Dec 2014 #26
I'm feeling far too mellow for SMW this morning Demeter Dec 2014 #27
 

Demeter

(85,373 posts)
2. China Overtakes Japan as World’s Second-Biggest Stock Market
Mon Dec 1, 2014, 07:20 AM
Dec 2014
https://www.bloomberg.com/news/2014-11-27/china-surpasses-japan-as-world-s-second-biggest-equity-market.html

China surpassed Japan as the world’s second-largest economy in 2010...China surpassed Japan as the world’s second-largest stock market for the first time in three years amid growing investor confidence that policy makers in Beijing will revive the economy with monetary stimulus.

China’s market capitalization climbed to $4.48 trillion yesterday after a 33 percent increase this year, according to data compiled by Bloomberg. Japan’s slipped to $4.46 trillion and has dropped 3.2 percent since the end of December. China was briefly the second-biggest market, behind the U.S., in March 2011 after an earthquake in Japan sent shares tumbling in Tokyo...While the weakening yen played a role in Japan’s shrinking market value in dollar terms, the Shanghai Composite Index (SHCOMP) has climbed three times as much as Tokyo’s Topix this year. China cut interest rates for the first time since 2012 last week and economists predict authorities will take more steps to support an economy headed for its slowest annual expansion since 1990. The Shanghai gauge still has a price-to-earnings ratio 21 percent lower than its Japanese counterpart.

“I still have a very bullish stance” on Chinese shares, said Dickie Wong, an executive director of research at Kingston Financial Group in Hong Kong. “They’re trading at low valuations.”


The growth in China’s market value, helped by the resumption of initial public offerings in January after a more than yearlong freeze, marks a turnaround for an equity market that was among the world’s worst performers from late 2010 through the middle of last year. It comes as authorities give foreign investors unprecedented access to mainland shares through the Shanghai-Hong Kong exchange link. MORE
 

Demeter

(85,373 posts)
3. China Drafts Bank Deposit Insurance in Move to Free Rates
Mon Dec 1, 2014, 07:25 AM
Dec 2014
http://www.bloomberg.com/news/2014-11-30/china-drafts-deposit-insurance-in-move-to-free-interest-rates.html

China will start an insurance system for bank deposits, a move toward scrapping remaining controls on interest rates and allowing lenders to fail in a more market-driven economy. The government will insure deposits of as much as 500,000 yuan ($81,367) per saver at each bank covered, the People’s Bank of China said in a draft rule on its website yesterday. It didn’t give a start date or detail what premiums banks may pay, saying only that they may differ depending on lenders’ management and risk conditions. The PBOC is seeking feedback through Dec. 30...Deposit insurance erodes an implicit government guarantee behind China’s state-controlled banks and clears the way for the nation to deregulate savings rates, increasing competition for funds. That may exacerbate a liquidity shortage at smaller banks and boost their chance of failure as savings shift to the biggest lenders.

“We are ever closer to the long-awaited monumental step of interest-rate liberalization,” Yao Wei, a Paris-based China economist at Societe Generale SA, wrote in a report today. Introducing deposit insurance and allowing banks to fail “could significantly increase the chance of a severe financial crisis if not managed deftly.”


China’s savers had piled up 112 trillion yuan of local-currency deposits as of Oct. 31, while bad loans have climbed to a six-year high, pointing to stresses within the financial system. The dominance of state-controlled lenders has left savers believing in an implicit government guarantee. China is the only major economy in Asia without a formal deposit insurance system. Such systems can help to prevent bank runs. At the same time, by acknowledging the possibility of bank failures, the plan may encourage depositors with balances exceeding 500,000 yuan at small lenders to shift to larger ones seen as more stable. The system can “promote the establishment of market-based risk prevention and resolution mechanisms,” the central bank said in the statement...The insured amount proposed will be enough to cover all the bank deposits of 99.6 percent of savers, the central bank said in a separate statement. BNP Paribas SA has estimated that a system of the type planned may cover 46 percent of deposit balances, based on past PBOC data. Authorities may adjust the 500,000 yuan ceiling, which includes both principal and interest, in line with economic and financial conditions, the statement said.

The rule would apply to all deposit-taking financial institutions and covers both local and foreign-currency deposits, according to the draft. A deposit insurance fund management agency, to be decided by the State Council, will set the premium rates. The ratios will be “much lower than” the starting level or current level in most countries with a deposit insurance system, and the financial impact on lenders is “very small,” the PBOC said in a separate statement...Foreign lenders’ branches in China and Chinese banks overseas units aren’t covered, the statement said. Interbank deposits by other financial institutions and deposits by senior bank management in their own bank aren’t insured...

Assuming premium rates of 0.05 percent to 0.11 percent for different types of banks, the deposit insurance system may reduce China banks’ 2015 earnings by 1.53 percent and their net interest margin by 26 basis points on average, Barclays Plc analyst May Yan estimated. Money in the plan could only be held by the central bank or invested in government bonds, PBOC notes, high-rated debentures or other channels approved by the State Council.

MORE

xchrom

(108,903 posts)
4. Oil Prices Are Plunging Even Lower
Mon Dec 1, 2014, 07:41 AM
Dec 2014
http://www.businessinsider.com/oil-prices-are-plunging-even-lower-2014-12

Oil prices are tumbling to new lows again Monday.

Brent crude is down another 1.38%, to just $69.2 per barrel. During trading, the price fell as low as $68, highlighting the amazing drop in prices: Brent crude was trading for more than $100 per barrel as recently as the end of August.

WTI, the other major oil price benchmark, is down 0.63% to just $65.73.




Read more: http://www.businessinsider.com/oil-prices-are-plunging-even-lower-2014-12#ixzz3Ke5JgXNm

xchrom

(108,903 posts)
5. Here's What A Sustained $20 Drop In Oil Prices Does To The World's Major Economies
Mon Dec 1, 2014, 07:44 AM
Dec 2014
http://www.businessinsider.com/societe-generale-oil-price-drop-effects-2014-11

For oil exporting countries, there would be an immediate negative shock to GDP growth as a result of the oil price drop. Meanwhile, there might be a strong bump in GDP growth for oil-importing countries, most notably the US, Canada, and some countries in Asia.

The researchers also include a number of caveats, given that economic simulations and predictions of this nature are always filled with assumptions and uncertainties.

Societe Generale's results are summarized in the chart. The blue part of the bars show the effect of the price drop after one year, brown after two years, and grey after three years.

"As seen from the chart, a $20/b decline in the oil price adds 0.26pp to World GDP after the first year of the shock," Marcussen wrote.

Russia stands out as the big loser in the first year.



Read more: http://www.businessinsider.com/societe-generale-oil-price-drop-effects-2014-11#ixzz3Ke5zaKas


xchrom

(108,903 posts)
6. European Markets Are Sinking
Mon Dec 1, 2014, 07:45 AM
Dec 2014
http://www.businessinsider.com/market-update-dec-1-2014-12

Here's the scorecard.

France's CAC 40: -0.64%

Germany's DAX: -0.23%

The UK's FTSE 100: -0.74%

Spain's IBEX: -0.45%

Italy's FTSE MIB: -1.25%

Asian markets closed mixed. Hong Kong's Hang Seng closed down 2.58%, a major drop, after pro-democracy protests flared up in the city over the weekend. Japan's Nikkei closed up 0.75%.

US futures are down too. The S&P 500 is down by 10 points, and the Dow is down 78 points.

Later today, US manufacturing PMIs are out. At 2:45 and 3 p.m. GMT respectively, Markit and ISM purchasing managers' indexes are out. Analysts are expecting a slight cooling in US industrial growth, but figures are still likely to show strong growth.



Read more: http://www.businessinsider.com/market-update-dec-1-2014-12#ixzz3Ke6R8fut

xchrom

(108,903 posts)
7. Black Friday Sales Plummeted This Year
Mon Dec 1, 2014, 07:47 AM
Dec 2014
http://www.businessinsider.com/afp-black-friday-sales-down-as-shopping-habits-change-2014-11

Washington (AFP) - Consumer spending during America's Thanksgiving weekend dropped compared to last year, but the decline can be attributed to an improving economy and changing shopping habits, a survey found Sunday.

According to the National Retail Federation's Thanksgiving weekend spending survey, 55.1 percent of holiday shoppers were expected to visit stores or go online over Thanksgiving weekend, down from 58.7 percent last year.

"A strengthening economy that changes consumers' reliance on deep discounts, a highly competitive environment, early promotions and the ability to shop 24/7 online all contributed to the shift witnessed this weekend," NRF President and CEO Matthew Shay said in a statement.

According to the survey, the average weekend shopper was expected to spend $380.95, down 6.4 percent from $407.02 last year.



Read more: http://www.businessinsider.com/afp-black-friday-sales-down-as-shopping-habits-change-2014-11#ixzz3Ke6s5dCP
 

Demeter

(85,373 posts)
8. Any rationalization, to avoid the truth
Mon Dec 1, 2014, 07:59 AM
Dec 2014

Happy December, X! How's your weather? Our 60F yesterday is 30F today.

 

Demeter

(85,373 posts)
29. That wind today is like a knife
Mon Dec 1, 2014, 02:54 PM
Dec 2014

I'll be wearing two layers tomorrow. and a scarf to breathe through. Today I get to stay indoors mostly.

 

Demeter

(85,373 posts)
9. Dominique Strauss Khan's Investment Banking Venture Just Went Bust NOVEMBER 5
Mon Dec 1, 2014, 08:01 AM
Dec 2014
http://uk.businessinsider.com/dsks-investment-banking-venture-just-went-bust-2014-11?r=US

Dominique Strauss-Kahn, the former International Monetary Fund boss caught up in a string of scandals, has just seen his one-year old investment banking firm go down the drain.

Last week, Strauss-Kahn's business partner Thierry Leyne fell from a building to his death in Israel in an apparent suicide. Today, The Wall Street Journal reports that Leyne Strauss-Kahn & Partners (LSK Partners) has declared itself insolvent.

From The Journal:

The Luxembourg-based firm said in a short statement written in French that after the “tragic death” of Mr. Leyne, the board had discovered “additional commitments within the group of which it was unaware and which aggravate the delicate financial situation.” It added: “Consequently it [the board] has decided to declare insolvency.”


The website of LSK Partners now appears to have no detail, with a simple holding page.

Last week the firm was embroiled in another battle with Switzerland's Insch Capital Management, a hedge fund that accused LSK of taking money from its account to purchase equity in another firm, which LSK owned.

THIS GOT LOST IN THE ELECTION AFTERMATH...NOVEMBER WAS A BUSY, CHURNING MONTH.

xchrom

(108,903 posts)
10. Moody's Downgrades Japan On Concerns About The Prospects For Abenomics
Mon Dec 1, 2014, 08:03 AM
Dec 2014
http://www.businessinsider.com/moodys-downgrades-japan-on-concerns-about-abenomics-2014-12

atings agency Moody's downgraded Japan sovereign debt rating by one notch from Aa3 to A1 on concerns that Abenomics will fail to put government finances onto a sustainable path.

Below are the three key reasons given for the downgrade:

1. Heightened uncertainty over the achievability of fiscal deficit reduction goals;

2. Uncertainty over the timing and effectiveness of growth enhancing policy measures, against a background of deflationary pressures; and

3. In consequence, increased risk of rising JGB yields and reduced debt affordability over the medium term.

The ratings agency's review of the country paints a worrying picture for those who are currently bullish on the prospects for Prime Minister Shinzo Abe's reform programme. In particular, the delay of the second sales tax hike following the collapse in domestic demand and inflation after its first increase has put the government's budget consolidation efforts under threat.



Read more: http://www.businessinsider.com/moodys-downgrades-japan-on-concerns-about-abenomics-2014-12#ixzz3KeAoWdG3
 

Demeter

(85,373 posts)
20. Prospects for Abenomics are excellent!
Mon Dec 1, 2014, 09:21 AM
Dec 2014

The entire Japanese economy will collapse like a flawed souffle in 3...2...1....

Shortly followed by the Eurozone and the USA, with the possibility that Canada, Australia and New Zealand will be able to survive.

UK is probably toast, too. Should have gotten out while the getting was good, Scotland.

 

Demeter

(85,373 posts)
11. Court Says By Agreeing To AOL's Terms Of Service, You've 'Consented' To Search By Law Enforcement
Mon Dec 1, 2014, 08:03 AM
Dec 2014

I REALLY DON'T THINK YOU CAN FORFEIT YOUR RIGHTS LIKE THAT...

https://www.techdirt.com/articles/20141104/18041429043/court-says-agreeing-to-aols-terms-service-youve-waived-your-4th-amendment-rights.shtml

The ACLU's Jameel Jaffer alerts us to a district court ruling in NY that effectively says that by merely agreeing to AOL's terms of service, you've waived your 4th Amendment rights. The case is the United States v. Frank DiTomasso, where DiTomasso is accused of producing child porn -- with most of the evidence used against him coming from AOL. DiTomasso argues that it was obtained via an unconstitutional search in violation of the 4th Amendment, but judge Shira Scheindlin rejects that, by basically saying that AOL's terms of service make you effectively waive any 4th Amendment right you might have in any such information. To be fair, Scheindlin doesn't get to that conclusion breezily, and earlier in the ruling worries that one can just give up such 4th Amendment rights:

I conclude that it would subvert the purpose of the Fourth Amendment to understand its privacy guarantee as “waivable” in the sense urged by the government. In today’s world, meaningful participation in social and professional life requires using electronic devices — and the use of electronic devices almost always requires acquiescence to some manner of consent-to-search terms. If this acquiescence were enough to waive one’s expectation of privacy, the result would either be (1) the chilling of social interaction or (2) the evisceration of the Fourth Amendment. Neither result is acceptable.


Agreed. So... what's the issue here? Well, apparently AOL's terms of service are so clear to the point that it would monitor your account for illegal behavior that somehow it's okay in this case:

AOL’s policy is quite different. Not only does it explicitly warn users that criminal activity is disallowed, and that AOL monitors for such activity; the policy also explains that “AOL reserves the right to take any action it deems warranted” in response to illegal behavior, including “terminating] accounts and cooperat[ing] with law enforcement.” The policy also makes clear that AOL reserves the right to reveal to law enforcement information about “crimes[s] that [have] been or [are] being committed.” In contrast to Omegle’s policy, which includes only a passing reference to law enforcement — and which gives no indication of the role Omegle intends to play in criminal investigations — AOL’s policy makes clear that AOL intends to actively assist law enforcement. For this reason, I conclude that a reasonable person familiar with AOL’s policy would understand that by agreeing to the policy, he was consenting not just to monitoring by AOL as an ISP, but also to monitoring by AOL as a government agent. Therefore, DiTomasso’s Fourth Amendment challenge fails as to the emails.


I'm not entirely sure how to reconcile those two paragraphs. They seem to directly contradict one another. The fine line of difference here is that the court is saying the 4th Amendment rights aren't "waived," but that DiTomasso effectively "consented" to a search by law enforcement. This seems like a distinction without any real difference. MORE

xchrom

(108,903 posts)
12. Global Investors Are Cutting Stocks And Betting On Cash
Mon Dec 1, 2014, 08:05 AM
Dec 2014
http://www.businessinsider.com/global-investors-are-cutting-stocks-and-betting-on-cash-2014-12

LONDON (Reuters) - World investors eased back on their exposure to risk assets such as stocks as they grappled with divergent monetary policies and multi-speed growth paths among major world economies, a global poll shows.

A monthly survey of 47 senior investors in the United States, Europe, Britain and Japan found the average recommended exposure to stocks in global balanced portfolios eased for a second consecutive month to 49.1 percent in November from 49.5 percent.

"The greatest risk remains disappointment on global growth level ... Markets remain vulnerable to any negative newsflow on macroeconomic indicators, be it in the Euro zone, in the US or even in China," Candriam Investors Group said in comment sent to Reuters for the poll.

An end to monetary stimulus, in place since the financial crisis, in the United States and Britain as their economies gather momentum stands in marked contrast to policies elsewhere.



Read more: http://www.businessinsider.com/global-investors-are-cutting-stocks-and-betting-on-cash-2014-12#ixzz3KeBGMwJ2

xchrom

(108,903 posts)
13. The Fed Is Rattled By Elusive Inflation, But Loath To Sound Alarm
Mon Dec 1, 2014, 08:06 AM
Dec 2014
http://www.businessinsider.com/r-fed-rattled-by-elusive-inflation-but-loath-to-sound-alarm-yet-2014-12

NEW YORK/SAN FRANCISCO (Reuters) - With the U.S. economy humming along at its fastest clip in more than a decade, the Federal Reserve should be confident about its ability to weather a global slowdown and start lifting interest rates around the middle of next year.

But then there is inflation.

Interviews with Fed officials and those familiar with its thinking show the mood inside is more somber than the central bank's reassuring statements and evidence of robust economic health would suggest. The reason is the central bank's failure to nudge price growth up to its 2 percent target and, more importantly, signs that investors and consumers are losing faith it can get there any time soon.

Despite undershooting the goal for three years, the Fed has long succeeded in convincing markets that the target was within reach. However, inflation expectations have begun slipping in recent weeks, threatening to amplify downward momentum from plunging energy prices and stuttering global growth.



Read more: http://www.businessinsider.com/r-fed-rattled-by-elusive-inflation-but-loath-to-sound-alarm-yet-2014-12#ixzz3KeBhfRPZ
 

Demeter

(85,373 posts)
14. Americans Killed by Cops Now Outnumber Americans Killed in Iraq War LAST YEAR'S COUNT
Mon Dec 1, 2014, 08:06 AM
Dec 2014

THEY COMPLAIN THAT THE GOVERNMENT ISN'T COUNTING...BUT SOMEONE IS!

http://thefreethoughtproject.com/americans-killed-cops-outnumber-americans-killed-iraq-war/#RRTix7fmEVwcBfRR.99

By Matt Agorist on December 12, 2013

The increase in police brutality in this country is a frightening reality. In the last decade alone the number of people murdered by police has reached 5,000. The number of soldiers killed since the inception of the Iraq war, 4489.

What went wrong? In the 19070’s SWAT teams were estimated to be used just a few hundred times per year, now we are looking at over 40,000 military style “knock and announce” police raids a year.

The police presence in this country is being turned into a military with a clearly defined enemy, anyone who questions the establishment.

If we look at the most recent numbers of non-military US citizens killed by terrorism worldwide, that number is 17. You have a better chance of being killed by a bee sting, or a home repair accident than you do a terrorist. And you are 29 times more likely to be murdered by a cop than a terrorist! MORE

xchrom

(108,903 posts)
15. Europe's Industry Is On The Edge Of A Recession
Mon Dec 1, 2014, 08:09 AM
Dec 2014
http://www.businessinsider.com/spains-pmi-for-manufacturing-just-surge-2014-12

Here's how it breaks down by country:

Spain's PMI for manufacturing surged to a seven year high at 54.7. That's up from last month's 52.6, and the best since July 2007.

Italy's manufacturing PMI sits unchanged at 49. No movement in November for Italy, which is still in recession. October's figure was also 49, signalling a contraction.

French manufacturers are signalling shrinkage too, with a PMI at 48.4. That's down from October's 48.5, but slightly better than analysts expected. French industry hasn't reported growth since April.

Germany's industry is back in recession territory with a PMI reading of 49.5. That's the lowest since summer 2013.




Read more: http://www.businessinsider.com/spains-pmi-for-manufacturing-just-surge-2014-12#ixzz3KeCIphJw

xchrom

(108,903 posts)
16. The 10 Most Important Things In The World This Morning
Mon Dec 1, 2014, 08:11 AM
Dec 2014
http://www.businessinsider.com/the-10-most-important-things-in-the-world-this-morning-dec-1-2014-12

1. Police and pro-democracy protesters in Hong Kong have clashed again. Police used pepper spray on the crowd. Thousands of activists forced the temporary closure of Hong Kong's government building. 40 arrested, Reuters reports.

2. Black Friday shopping appears to have declined 11% in the US. The Washington Post says: "The National Retail Federation reported that 55.1 percent of consumers shopped between Thursday and Sunday, according to a survey it conducted over the weekend. That is down from 58.7 percent the previous year. The NRF said total spending was $50.9 billion, an 11 percent decline from an estimated $57.4 billion in 2013." One theory: Shoppers no longer believe that deals will only be available on the Friday and are instead spreading their buying across the weeks leading up to Christmas.

3. UK manufacturers are moderating their growth expectations. A survey of manufacturers by EEF and BDO says companies predict growth of 3.5 per cent this year for the sector but that will slow to 2 per cent in 2015, the Financial Times says.

4. Chinese manufacturing looks weak. Business Insider's Linette Lopez reported: "Chinese manufacturing disappointed again in November. The country's manufacturing PMI missed expectations coming in at 50.3, analysts expected 50.5." It's the second straight month where PMI has been near 50. Any measure under 50 indicates the sector is contracting.

5. The Swiss have rejected the gold standard. In a national referendum on Sunday that was closely watched by gold bugs — people who believe that currency should be tied to the actual value of gold — Switzerland rejected a proposal to link the Swiss franc to gold reserves held by the country's central bank.



Read more: http://www.businessinsider.com/the-10-most-important-things-in-the-world-this-morning-dec-1-2014-12#ixzz3KeCqCYsU

xchrom

(108,903 posts)
17. Overtime Pay Is Crucial For A Strong Middle Class
Mon Dec 1, 2014, 08:21 AM
Dec 2014
http://www.businessinsider.com/what-overtime-gets-you-2014-11

What happened to overtime?

The extra-pay-for-extra-work idea has fallen out of fashion in most salaried, non-unionized workplaces, largely because it's no longer legally required.

In Politico Magazine, Nick Hanauer writes of the hallowing out of the middle class:

In 1975, more than 65 percent of salaried American workers earned time-and-a-half pay for every hour worked over 40 hours a week. Not because capitalists back then were more generous, but because it was the law. It still is the law, except that the value of the threshold for overtime pay—the salary level at which employers are required to pay overtime—has been allowed to erode to less than the poverty line for a family of four today. Only workers earning an annual income of under $23,660 qualify for mandatory overtime.

Overtime, Hanauer says, "is absolutely essential to creating a broad and thriving middle class."

This has been true in my own experience. In my former job as a Reuters journalist, I qualified for overtime pay for work I did above 35 hours a week. I frequently put in 40+ — 45+ if you consider I rarely took a lunch "hour". It's hard to account for all of those hours in the age of the web journalist (when I check the notifications for the Reuters twitter account I ran in bed on my phone while also browsing my own personal account, am I working? What about when I eat lunch at my desk but am flipping between Amazon and my work?). So I often billed for about 40 hours, but sometimes a little under.



Read more: http://www.businessinsider.com/what-overtime-gets-you-2014-11#ixzz3KeFJpB8y

xchrom

(108,903 posts)
18. WORLD STOCKS, OIL DOWN ON CHINESE, US DATA
Mon Dec 1, 2014, 08:36 AM
Dec 2014
http://hosted.ap.org/dynamic/stories/F/FINANCIAL_MARKETS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-12-01-04-46-37

KEEPING SCORE: Germany's DAX shed 0.1 percent to 9,971.40 and France's CAC 40 dropped 0.2 percent to 4,382.95. Britain's FTSE 100 shed 0.8 percent to 6,669.47. Futures pointed to losses on Wall Street. Dow futures fell 0.2 percent and S&P 500 futures dropped 0.3 percent.

CHINA FACTORIES: A survey by HSBC Corp. showed Chinese manufacturing activity weakened in November, adding to signs an economic slowdown is deepening. HSBC said its purchasing managers' index declined to 50.0 from the previous month's 50.4 on a 100-point scale on which numbers below 50 show activity contracting. The bank said domestic demand was sluggish and new orders were weak. China's economic growth slowed to a five-year low of 7.3 percent in the latest quarter.

THE QUOTE: "The November PMIs confirm that growth in China's industry remains under downward pressure," said Louis Kuijs of Royal Bank of Scotland in a report. "The surprisingly meager development of the new export order component in today's PMI indices suggests that global demand growth also remains subdued."

BLACK FRIDAY: Early discounting, more online shopping and a mixed economy meant fewer people shopped over Thanksgiving weekend, the National Retail Federation said Sunday. Overall, 133.7 million people shopped in stores and online over the four-day weekend, down 5.2 percent from last year, according to a survey of 4,631 people. Total spending for the weekend is expected to fall 11 percent to $50.9 billion from an estimated $57.4 billion last year.

HONG KONG: Police charged protesters who tried to march to Hong Kong leader Leung Chun-ying's office after organizers said they would step up their campaign for democratic reforms. Pro-democracy activists oppose plans that call for a panel of Beijing-friendly elites to screen candidates for Hong Kong's first direct election of its leader in 2017. The territory's finance secretary, John Tsang, expressed concern Monday that the conflict that began in September will "undermine consumer and investor confidence," holding back an economic recovery.

Warpy

(110,913 posts)
30. A large reason oil is down is putting the screws on Putin
Mon Dec 1, 2014, 04:43 PM
Dec 2014

Russia's economy was weakening before he annexed Crimea. Now it's tottering.

 

Demeter

(85,373 posts)
22. Why The World Needs Fewer Cops (AND MORE FORENSIC ACCOUNTANTS!)
Mon Dec 1, 2014, 09:33 AM
Dec 2014

IF THEY FOLLOWED THE MONEY...THEY'D KILL OFF CRIME. THAT INCLUDES ENSURING THAT PEOPLE ARE ABLE TO LEAD DECENT LIVES. SO WE NEED MORE FDR'S TOO.

http://www.businessweek.com/articles/2014-12-01/why-the-world-needs-fewer-cops#r=rss

The tragedy in Ferguson, Mo., highlights how predatory policing has reduced trust in law-enforcement in many parts of the U.S. Court fines (mostly connected with traffic violations) are worth 20 percent of Ferguson’s general-fund revenue. That’s considerably more than property tax revenues and about two thirds sales tax revenues. The police force accounts for 41% of the city’s expenses, suggesting fines are worth about one half of the police budget. The incentives that such a system created to fine people overzealously was one factor behind the dismal state of relations between locals and cops in the city even before the death of Michael Brown.

There is a similar problem globally, of police taking money from citizens to supplement their income. The difference in many developing countries is that the system more often involves straightforward bribes (often passed on to superiors) rather than fines recycled through local government budgets. But the impact is the same. The problem of predatory policing is so severe it suggests that the police have a very limited role in actually deterring crime or catching offenders in large parts of the developing world. In countries rich and poor, the best response may be fewer cops operating with less incentive to maximize police revenues.

Developing and developed countries tend to have similar numbers of police officers as a percentage of the population. But that broad parity in the number of police isn’t matched by how often people come into contact with them. Transparency International surveys people to ask if they have been in contact with the police over the past year. In countries poorer than Brazil (which has an income per capita of about $14,500), 31% of the population report police contact compared to 19% in richer economies. In developing countries such as Uganda, Senegal, Sierra Leone and Zimbabwe, more than half of the population has had contact with the police over the last year, a proportion unmatched in any rich country.



When people in developing countries encounter a policeman, they’re less likely to be subject to formalities. The UN Office on Drugs and Crime tracks ‘formal contact’ with police –people cautioned, investigated or arrested. Countries poorer than Brazil see 704 formal contacts per 100,000 citizens compared to 1,711 in countries richer than that. A more ubiquitous police presence, in other words, doesn’t lead to more formal investigations or arrests. Despite the fact that more than half of the population had contact with a policemen in Uganda over past year, for example, the country only sees 167 “formal” contacts per 100,000 –well below the developing country average. If the police aren’t fining, arresting or investigating, they must be doing something else. The benign interpretation is that their very presence simply deters crime. But there is another explanation for the lack of relationship between presence and formal contact. In Uganda, approximately 69% of those who report contact with the police over the past year also report they paid a bribe to them. The police aren’t fighting crime; they’re shaking down citizens instead...MORE

 

Demeter

(85,373 posts)
23. Obama Plans Meetings on Ferguson Unrest at the White House
Mon Dec 1, 2014, 09:38 AM
Dec 2014
http://www.nytimes.com/2014/12/01/us/politics/obama-plans-meetings-on-ferguson-unrest-at-the-white-house.html

AH. GEE! DO YOU THINK HE SHOULD TRY TO SQUEEZE IT INTO HIS BUSY LAME-DUCK AGENDA? THE KID'S BEEN DEAD SINCE AUGUST, FOR CRYING OUT LOUD! I SWAN.

President Obama is planning a day of meetings at the White House on Monday to respond to the unrest in Ferguson, Mo., and racially tinged anger across the country after a grand jury decided not to indict a white police officer who fatally shot an unarmed black teenager.

Mr. Obama, who has labored to strike the right balance in reacting to the crisis, has not scheduled a trip to Ferguson despite days of speculation about a presidential visit there.

THIS PRESIDENT, OF ALL PRESIDENTS, SHOULD HAVE BEEN COMPLETELY "UNBALANCED" ABOUT THIS ISSUE. BUT WHAT DO I KNOW? I'M JUST AN OLD WHITE GIRL. AND A SOCIAL PROGRESSIVE LIBERAL DEMOCRAT...
 

Demeter

(85,373 posts)
24. Most Business People Say Their Privilege Is Well Deserved: Agree or Disagree?
Mon Dec 1, 2014, 09:43 AM
Dec 2014
http://www.inc.com/rebecca-borison/are-entrepreneurs-privileges-justified.html

Being an entrepreneur often comes along with an array of different benefits--from being the ultimate say on decisions to getting to name your own work hours. But the question is whether these privileges are fair.

To find out how small businesses felt about this question, Inc. polled entrepreneurs and executives from more than 300 fast growing companies. And the response was overwhelmingly in favor of those privileges being justified.

Eighty-five percent of the respondents felt that the social and economic privileges awarded to entrepreneurs are justified because they were earned through a willingness to take risks and a superior work ethic. Only 6 percent disagreed, and 9 percent weren't sure.

This data and chart below are pulled from a larger survey of Inc. 5000 companies called Inc.'s State of Small Business survey, which was conducted in late September and early October. So what do you think about the privileges of entrepreneurs? Weigh in with your two cents, below. In the poll, just select the response that fits your sentiment most: SEE LINK


EXCUSE ME, BUT I FAIL TO SEE ANYTHING THAT LOOKS LIKE A "PRIVILEGE" THERE. I MUST HAVE A TOTALLY EXCEPTIONAL DEFINITION OF PRIVILEGE...I THOUGHT IT MEANT SOMETHING LIKE FREE TICKETS TO BROADWAY SHOWS PAID BY THE MANAGEMENT, NOT BEING ALLOWED DIGNITY AND FREEDOM TO NOT LIVE LIKE A SLAVE....

"PRIVILEGE" ON WALL STREET MEANS SO MUCH MORE....
 

Demeter

(85,373 posts)
25. Rouble suffers worst fall since 1998 crisis
Mon Dec 1, 2014, 09:47 AM
Dec 2014
http://www.ft.com/intl/cms/s/0/4bb50fcc-7937-11e4-9567-00144feabdc0.html?ftcamp=published_links%2Frss%2Fhome_us%2Ffeed%2F%2Fproduct&siteedition=intl

http://im.ft-static.com/content/images/aaa84cf0-c208-4599-aef0-7d283d86a3b2.img

WELL, IF THE US WANTS TO HURT RUSSIAN OLIGARCHS, I AM SURE PUTIN WON'T MIND...HE'S BEEN CUTTING THEIR PINIONS FOR YEARS. LETTING THE WEST DO THE HEAVY LIFTING IS EVEN BETTER FOR HIS GOVERNANCE!

WHAT ALL THE WORLD REFUSES TO SEE IS THE RESILIENCE AND DECOUPLING THAT RUSSIA ENJOYS FROM THE MADNESS OF THE WESTERN HEGEMONY AKA "GLOBALISM".

 

Demeter

(85,373 posts)
26. Click Here for Thin Mints: Girl Scouts Now Sell Cookies Online
Mon Dec 1, 2014, 09:51 AM
Dec 2014
http://www.businessweek.com/articles/2014-12-01/buying-girl-scout-cookies-online-thin-mints-finally-reach-the-web#r=rss

Buyers in the Girl Scout cookie market are of two types: people who are pressured, on behalf of a co-worker’s daughter, into purchasing three boxes of Thin Mints, and people who desperately want to buy three—OK, six—boxes of Thin Mints but can’t find a girl scout fast enough or persuade her to accept your credit card.

If you’re the first type of cookie buyer, the Girl Scouts of the United States of America can do nothing for you because, frankly, Thin Mints are delicious and you shouldn’t need any additional persuasion to buy them. But if you’re in the second camp—the person who can’t find cookies—the scouts understand your cookie-related pain and want to help. “The No. 1 reason people say they don’t buy our cookies is they couldn’t find a Girl Scout,” says Kelly Parisi, chief communications director of Girl Scouts of America. “We needed a new way to approach the consumer.”

That’s why this year, you’ll be able to buy Girl Scout cookies online.


The “Digital Cookie” program, announced today, will go into effect during the organization’s upcoming cookie season, which usually runs from January to April. In addition to door-to-door sales, girl scouts will now set up online shops to market their cookies and track sales like an actual mini-business. The website also accepts credit cards...Each girl scout will get her own Digital Cookie website, which looks sort of like an elementary school-age Kickstarter campaign with a video of the child making a sales pitch. There are more than 2 million young girls in the Girl Scouts, almost all of them under 18 and many with parents who are uneasy about interactions with customers online. Digital Cookie websites won’t display a scout’s full name or where she lives. Only people who are preapproved by the child’s parents will be able to buy cookies from her online. That may sound limiting at first—it still requires you to know a girl scout or her parent before you can place an order—but Digital Cookie will also sync with Facebook (FB), increasing the likelihood that someone in your social circle will be able to feed your Samoa addiction. And by going online, scouts are now able to ship cookies anywhere in the world...

SOUNDS LIKE THE PIRANHAS ARE CIRCLING...WHY THE HELL NOT ONE WEBSITE PER STATE? AND MAIL ORDER! WHY MAKE IT ANOTHER VERSION OF OBAMACARE?

 

Demeter

(85,373 posts)
27. I'm feeling far too mellow for SMW this morning
Mon Dec 1, 2014, 10:00 AM
Dec 2014

I have my New Year's Resolution already: Solve a problem today.

It doesn't have to be a big problem, it just has to be the thing that's most bugging me right this minute. And it has to be solvable.

I don't include routine tasks, unless it's something I've been avoiding or putting off for too long.

For example, today I put plastic sheeting on two windows. It's something I would have done earlier if I'd had the time, energy, and window materials...the necessity of this task would be relieved by new windows, but I'm not there yet and neither is the condo association....

Instant relief from the breeze blowing through 40 year old standard American crap windows. Next...hang up the rods, blinds and curtains on those two windows....

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