Recent comments by Rajesh

I have a variable speedometer that tells me how fast I was going three to six days ago plus or minus two hundred and fifty percent.

creditcriminalslovetarp wrote:

the border is left wide open

The border is open because the Chamber of Commerce wants it that way, at least until they can get the votes to pass immigration reform to make the border even opener.

Charts that leave you no choice are a fascist conspiracy.

Rickkk wrote:

were incredibly fortunate that the 2012 eruption happened when it did

Not December 21, 2012?

Beancounters tell NASA it's too poor to fly planned mega-rocket • The Register

The first SLS flight is scheduled for December 2017 and the agency says it is 70 per cent confident of hitting that deadline. Earlier this month the agency signed a $2.8bn contract with Boeing to build the main stage of the SLS and last week NASA test fired one of the RS-25 rocket engines that will provide propulsion.

The SLS will use four RS-25 rocket engines, the same type that were used on the space shuttle, and will have two specially adapted shuttle solid-fuel boosters strapped to the side of the main rocket. The GAO report noted that these boosters are already causing NASA manufacturing problems.

The report suggests NASA formulates a proper business case for the SLS and economizes on its plans in order to have a shot at hitting its launch date and budget.

The business case is that it gets government money into the hands of the right contractors.

Pigged
BBC News - Russia's surprise interest rate rise 'to curb inflation'

The Central Bank of Russia said on Friday that it will raise the interest rate on Monday to ease inflationary pressure.

"Inflation risks have increased due to a combination of factors, including, inter alia, the aggravation of geopolitical tension and its potential impact on the rouble exchange rate dynamics, as well as potential changes in tax and tariff policy," the bank said.

In June, core inflation grew to 7.5%, well above the bank's forecast of up to 6.5% for the year.

"The main reason for inflation acceleration was the effect of the observed rouble depreciation on prices of a wide range of goods and services," the bank said.

BBC News - Russia's surprise interest rate rise 'to curb inflation'

The Central Bank of Russia said on Friday that it will raise the interest rate on Monday to ease inflationary pressure.

"Inflation risks have increased due to a combination of factors, including, inter alia, the aggravation of geopolitical tension and its potential impact on the rouble exchange rate dynamics, as well as potential changes in tax and tariff policy," the bank said.

In June, core inflation grew to 7.5%, well above the bank's forecast of up to 6.5% for the year.

"The main reason for inflation acceleration was the effect of the observed rouble depreciation on prices of a wide range of goods and services," the bank said.

Better living through Chemisty: Currently Smoking Cannibis The Red Pill The Blue Pill

UK economy grows to surpass pre-crisis peak - Businessweek

Britain's economy has grown to surpass the peak it reached in 2008, before the global banking crisis caused a deep recession, official figures showed Friday.

The Office for National Statistics said gross domestic product grew by 0.8 percent in the three months through June compared with the previous quarter. It expanded 3.1 percent over the year, putting it 0.2 percent ahead of its pre-crisis peak in early 2008.

The global financial crisis triggered a deep downturn for the British economy. By mid-2009, GDP was more than 7 percent below its pre-recession level.

Godzilla!!
Slower Japan Inflation in June Highlights BOJ Reflation Task - Bloomberg

Japan’s inflation slowed in June, highlighting the task Bank of Japan Governor Haruhiko Kuroda faces in reaching the bank’s target.

Consumer prices excluding fresh food rose 3.3 percent from a year earlier after a 3.4 percent gain in May, the statistics bureau said today in Tokyo. The increase matched the projection in a Bloomberg News survey of 32 economists.

Kuroda has said inflation will ease in coming months before accelerating later this year toward the BOJ’s 2 percent goal, which strips out the effects of a sales-tax increase in April. As the impact of the yen’s slide on prices fades, some economists say the central bank may add stimulus should price gains drop below 1 percent -- a level Kuroda forecast they wouldn’t break.

“There are factors that will reduce upward pressure on prices, challenging the BOJ’s projection,” Takeshi Minami, chief economist at Norinchukin Research Institute Co. in Tokyo, said after the report. “Exports are weak, the recovery in consumption has been slow and real incomes aren’t growing. The situation is quite severe.”

The BOJ estimated the 3 percentage point increase in the sales levy added 2 percentage points to core inflation in May.

sm_landlord wrote:

I thought the great whale of Washington devoured them.

Only the money losing handset business.

lawyerliz wrote:

Who was the first prez to be born a citizen of the United States?

Martin_Van_Buren

Martin Van Buren was born in the village of Kinderhook, New York, on December 5, 1782, about 25 miles (40 km) south of Albany, New York.

Stagnant wages leaves central banks fretting over fate of workers
| Reuters

From the U.S. Federal Reserve to the Bank of England, the Bank of Japan and the European Central Bank, slow wage growth is a major concern as central bankers continue to look for signs of a solid recovery.

The standing assumption has been that low interest rates would support growth, growth would translate into jobs, and tighter labor markets would lead to rising pay.

But the tepid pace of wage growth this far into the recovery "makes them very nervous," said Joel Prakken, a senior managing director at the Macroeconomic Advisers consulting firm, because it strikes at one of the foundations of developed world success: solid household incomes and consumer spending.

It is a tricky issue for central banks, which face the fact that monetary policy can do little if anything to directly create a job or raise a wage.

Policymakers can set monetary conditions to pull the economy out of a trough and keep credit flowing - and through those mechanisms their crisis response arguably helped keep tens of millions of people at work.

But as the recovery matures, the lack of wage growth in the developed world stands out as an area where loose monetary policy has generated underwhelming results.

poicv2.0 wrote:

I control the loss diversification newsletter role on HCN

Hostile takeover?

ResistanceIsFeudal wrote:

Mainly we detect the black hole because of how it bends light.

There is no spoon

Facebook goes express to mega-cap status - now valued more than AT&T, Coke
| Reuters

In the days after its infamously mishandled initial public offering in May 2012, it looked as if Facebook would struggle to become a must-own for fund managers.

Now the company's $190 billion market value makes it bigger than such bellwethers as Coca-Cola and AT&T. It's not a member of the Dow industrials, but if it were, it would be larger than two-thirds of that index's 30 members.

Shares in the world's No. 1 social network touched a record high of $76.74 on Thursday after earnings and revenues easily topped analysts' forecasts, boosting its market value to nearly $194 billion. That ranks it 15th in the S&P 500, just below the $196 billion market cap of IBM.

"A 100-year-old company with real assets versus a company admittedly with virtual assets and they are trading at the same market cap – crazy," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

The speed of Facebook's rise to mega-cap status is what's notable. It took Apple Inc nearly three decades to achieve such a market value; Google needed five years. Facebook has only been public for a bit more than two years, and only joined the Standard & Poor's 500 benchmark seven months ago. Since S&P Dow Jones Indices said on Dec. 11 that it would be added to the index, shares have risen 54 percent.

lawyerliz wrote:

The hobby. Crafts room?

The still room where you brew your beer.

shill wrote:

Ahh so they are saving....

Or the smaller accounts are being drained and closed.

I'm thinking the hawks will make the case for tapering $15 billion this meeting instead of waiting for the October meeting. There will lose on 'transparency grounds' but will be able to open the door for the move at the next meeting.

Does this mean the gap is more distressing?

Mortgage interest rates are too high!

burnside wrote:

It's not 1977.

Given that we're negotiating with the Iranans; worried about oil supplies from the middle east disrupted and mad at Moscow for foreign intervention, I'd say it more 1979.

Mr Slippery wrote:

The very low claims number shows little slack in the labor force,

The low number of claims shows that employers are beginning to horde labor, but are not yet willing to raise wages.

Hu Knows
China July HSBC flash PMI at 18-month high
| Reuters

The HSBC/Markit Flash China Manufacturing Purchasing Managers' Index rose to 52.0 in July from June's final reading of 50.7, beating a forecast of 51.0 in a Reuters poll.

It was the highest reading since January 2013, and above the 50-point level that separates growth in activity from contraction for the second consecutive month.

"Economic activity continues to improve in July, suggesting that the cumulative impact of mini-stimulus measures introduced earlier is still filtering through," said Qu Hongbin, chief economist for China at HSBC.

"We expect policy makers to maintain their accommodative stance over the next few months to consolidate the recovery."

Wisdom Seeker wrote:

There is a cow here that could be milked to everyone's benefit.

I think we've fixed that problem.

Antipodes wrote:

Good day for a BBQ.

Winds less than 50 kph? Temps above 0?

sm_landlord wrote:

a section on financial scams would probably be of great value to students in their future lives.

A how to Madoff chapter would launch thousands of careers.

If we don't immediately raise interest rates, we could have a fatal outbreak of prosperity!

Whiskey wrote:

Why is inflation a bad thing when so many people are buried by debt?

Wage inflation is not a bad thing but price inflation without wage inflation is a bad thing.

sporkfed wrote:

Productivity gains aren't being shared.

If only the owners of capital would be satisfied by taking only 100% of productivity gains.

josap wrote:

Real Median Household Income

Data only to 2012.

Here is a more current series:
Real Median Household Income Rose 0.45% in May

justaskin wrote:

"Who lost Crimea"

It's still right there in the Black Sea.

More hyperinflation hysteria:
Economists worry rising wages may catch the Fed off guard
| Reuters

One closely watched wage growth measure, a gauge produced by the National Federation for Independent Business, has reached a seven-year high. A turn in this index, which began moving up late last year, historically has been followed by a pick-up in wage growth nine months later.

That and evidence of a tightening labor market has some economists worried the Federal Reserve may miss the signs of accelerating wage growth and end up with an inflation problem.

"The biggest threat to the Fed's policymaking is that six years of not having to deal with wages doesn't allow you to understand how wages will change when you come back to a more normal full-employment type of economy," said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania.

"When the dam breaks, it breaks and you don't necessarily see a slow rise in compensation."

Wisdom Seeker wrote:

Debtors get asset-stripped by creditors

You and which army?

BBC News - IMF says US growth will be a "disappointing" 1.7%

In its annual report card, the IMF said overall growth for this year would be "disappointing" at 1.7%, blaming the contraction at the start of the year.

In June it had predicted growth of 2% for the year.

The report concluded the country was therefore likely to remain with below full employment until 2018.

It's amazing how Russian media has such a direct insight into what's happening in the meeting rooms and minds at the highest level of the U.S. government.

Nemo wrote:

Show me the way to go home

Tap Your Heels Together Three Times
There's no place like home.
There's no place like home.
There's no place like home.

Darth Vader is polling higher than all potential 2016 presidential candidates - The Washington Post

None of the 2016 hopefuls is polling higher than Darth Vader. You'll recall that Vader chopped off his son's arm and blew up an entire planet, but evidently in the eyes of the American public these are minor sins compared to Benghazi, Bridgegate and Gov. Rick Perry's hipster glasses. These numbers suggest that if "Star Wars" were real and Darth Vader decided to enter the 2016 presidential race, he'd be the immediate front-runner.

Anonymous Bosch wrote:

when All in the Family debuted

Did they charge 50 cents per text message?

Puerto Rico debt crisis headed for U.S.-style bankruptcy resolution
| Reuters

Momentum is building toward a deal that would make painful losses inevitable for investors holding about $20 billion in bonds issued by Puerto Rico's highway, water and electricity authorities even as some big U.S. mutual funds launch a legal battle to squelch a new law that authorizes a restructuring.

The Puerto Rican government and most of its creditors have hired U.S.-based bankruptcy experts to advise them through the Caribbean island’s efforts to solve its debt problem, and the resolution figures to look a lot like a U.S.-style bankruptcy.

The crisis came to a head late last month when Governor Alejandro Garcia Padilla pushed through the Public Corporations Debt Enforcement and Recovery Act to create a bankruptcy-like process for restructuring the debt of commonwealth-run corporations. That’s caused prices on some of the bonds of the electric utility, known as PREPA, to fall to 40 cents on the dollar or below. PREPA is widely viewed to be in the weakest condition of the agencies.

Oh my! Bondholders getting haircuts.

I was sure civilization was coming to an end when American Idol debuted. It's taken longer than I thought.

Bubblisimo Gerkinov wrote:

light rail transit.

Socialist!

josap wrote:

hang the drapes.

In twenty years, a three-D printer will build the drapes in place.

Junk ‘Extremely Overvalued’ for 9th Month, Fridson Says - Bloomberg

“The pressure to find yield is causing investors to rationalize investing in paper that is subject to major price risk,” said Fridson, who started his career as a corporate-debt trader in 1976. “This has to be a concern to those who believe, as I do, that the market distortions of 2007 aggravated the subsequent dislocations experienced in 2008.”

After the previous streak ended in May 2007, spreads more than doubled in the next five months amid a credit market seizure, leading to a negative total return of 2.8 percent, Fridson said in the report.

Its different this time

robj wrote:

Damn Yankees beat the Rangers in the 13th inning, btw.

I thought curling was over.

emergency hotdog wrote:

stress out even the dalai lama.

Blasphemy!

I'm so glad that I.S.I.S./I.S.I.L. crisis is over.

Words to inspire confidence:
NY Fed found serious problems at Deutsche Bank's U.S. arms: WSJ
| Reuters

This was a "systemic breakdown" and "expose the firm to significant operational risk and misstated regulatory reports," according to the letter from Daniel Muccia, a New York Fed senior vice president responsible for supervising Deutsche Bank.