Recent comments by Rajesh

Putin, defiant toward West, likens Ukraine conflict to WWII - LA Times

“Thank God, I think no one is thinking of unleashing a large-scale conflict with Russia. I want to remind you that Russia is one of the leading nuclear powers,” Putin said during a visit to a Kremlin-sponsored youth camp, clearly aiming to marshal public support for a military campaign that has brought international isolation and increasingly stringent economic sanctions.

Russia is in the top ten as far as nuclear powers go, for sure!

NATO planning rapid-deployment force of 10,000 troops to counter Russia – report

According to the Financial Times, the force’s creation will be spearheaded by Britain and involve contributions from Denmark, Latvia, Estonia, Lithuania, Norway, and the Netherlands. Canada is also interested in joining the group, but it’s not known what its final decision will be.

Although no formal announcement has been made, British Prime Minister David Cameron is expected to declare its formation at the upcoming NATO summit in Wales on September 4th.

Many specifics have yet to be worked out or announced, but planners are reportedly implementing ways to increase the number of soldiers involved even more if necessary. Air and naval units will be integrated into the group, as well as ground troops led by British commanders.

U.S. coal stocks could gain on Russia tension
| Reuters

Shares of Peabody Energy Corp (BTU.N), the biggest U.S. producer of coal, have declined more than 27 percent since March 9, 2009, when the S&P 500 hit its financial crisis nadir, closing at 676.53 points.

While the S&P has nearly tripled from that day, the Dow Jones U.S. Coal Index .DJUSCL has lost 7.7 percent in that time. The last three-plus years have been particularly bad for the coal index, which has lost nearly three-quarters of its value since April 2011.

The index includes just three stocks - Peabody, CONSOL Energy (CNX.N) and Alpha Natural Resources (ANR.N). CONSOL, which is more diversified and derives around a third of its revenue from natural gas, is the only one up on the year so far. It has gained 5.3 percent, but still lags the wider S&P 500 .SPX, which is up more than 8 percent.

Peabody is down around 20 percent this year, and Alpha Natural has swooned 45 percent.

emergency hotdog wrote:

lots of wealthy chinese folks just got cut off.

Only until Oct.1, new fiscal year, new quota.

Nemo wrote:

"NEVER AGAIN" is the all-purpose policy directive these days

Banco Espirto Santos certainly feels that way.

You go to new highs with the fairy tale you have, not the fairy tale you want.

Rob Dawg wrote:

Seriously, the Fed cannot be the excuse at this point

The last 500 Dow points have been based on the ECB QE that may occur in 2015 or 2016. Reaching for yield.

A stopped watch is right twice a day. Unfortunately, you don't know when it's right.

But is it a well entertained serfdom?

U.S auto sales seen ending summer without a sizzle
| Reuters

U.S. auto industry sales in August will be about even with a year ago, not quite ending the summer in a sizzling fashion but still warm enough to continue the recovery from a recession now five years in the rear-view mirror.

Analysts polled by Thomson Reuters expect monthly sales of about 1.5 million new vehicles when automakers report them on Wednesday, with a seasonally adjusted annualized sales rate of 16.6 million. It should be the sixth straight month showing an annualized rate above 16 million, a level reached only twice in 2013.

How often do Labor Day Sales intrude into August?

Sebastian wrote:

an indefinite period of time.

Heisenberg Uncertainty!

Outsider wrote:

They are renaming it Non-Labor Day.

They are renaming it Non-Labor Shareholder CEO Day. Fixed It For Ya

The cult of the looter is supreme!

sm_landlord wrote:

Because it's not income to the recipient.

It's a refund of a deliberate overcharge.

Special Report: The billion-dollar fall of the house of Espirito Santo
| Reuters

On June 9, with his 150-year-old Portuguese corporate dynasty close to collapse, patriarch Ricardo Espirito Santo Salgado made a desperate attempt to save it.

Salgado signed two letters to Venezuela’s state oil company, which had bought $365 million in bonds from his family’s holding company. The holding company was in financial trouble. But the letters, according to copies seen by Reuters, assured the Venezuelans that their investment was safe.

The "cartas-conforto" – letters of comfort – were written on the letterhead of Banco Espirito Santo, a large lender controlled by the family. They were co-signed by Salgado, who was both the bank’s chief executive and head of the family holding company.

"Banco Espirito Santo guarantees ... it will provide the necessary funds to allow reimbursement at maturity,” said the letters.

There were problems, though: By promising that the bank stood behind the holding company’s debt, the letters ignored a directive from Portugal’s central bank that Salgado stop mixing the lender’s affairs with the family business. The guarantees were also not recorded in the bank’s accounts at the time, which is required by Portuguese law.

The following week, after intense pressure from regulators, Salgado resigned. Within a month, the holding company, Espirito Santo International, filed for bankruptcy, crumbling under 6.4 billion euros ($8.4 billion) in debt. In August, Banco Espirito Santo was rescued by the Portuguese state, after reporting 3.6 billion euros in losses.

Disappearing euro zone inflation set to heighten ECB concerns
| Reuters

Consumer prices in the 18 countries using the euro rose by just 0.3 percent year-on-year in August, the smallest increase since October 2009, the European Union's statistics office Eurostat said. The number matched market expectations.

Consumer Sentiment remains at recessionary levels.

London Property Market Falters as Buyers Resist Higher Prices - Bloomberg

London’s property market stagnated for a second month in August as buyers became reluctant to accept high asking prices amid the prospect of increasing borrowing costs, Hometrack Ltd. said.

The survey of real-estate agents showed values were unchanged in the capital in a “stark” change from the sharp increases over the past year that helped propel national prices to a record. Across England and Wales, values grew 0.1 percent in August, the same as in July, bolstered by gains in commuter towns in the southeast.

There’s “evidence of growing resistance to rapid price rises in the London market,” said Richard Donnell, director of research at Hometrack. “Talk of a housing bubble and warning from the Bank of England have impacted sentiment.”

Venezuela’s Black Market Bolivar Slides to Record Low - Bloomberg

A dollar fetched 89 bolivars on the Colombian border today, compared with the official exchange rate of 6.3 bolivars, according to, a rate-tracking website. Two black market traders in Caracas, who asked not to be named because the trading isn’t legal, confirmed the record-low rate.

Inflation reached 60.9 percent in May, the last month for which figures are available, while according to economists surveyed by Bloomberg gross domestic product shrank 2.1 percent in the second quarter. The economic decline is pushing people to seek out dollars to protect the value of their savings, at the same time that the government tightens supply, Henkel Garcia, director of Caracas-based consulting firm Econometrica, said by telephone.

Treasury Market Rally Is Stronger Than Every Economist Predicted - Bloomberg

This year’s Treasury market rally has been stronger than every economist surveyed by Bloomberg News predicted.

Ten-year yields that slid to 2.32 percent yesterday were lower than the levels projected by all 66 economists surveyed for their Sept. 30 forecasts. Even as the Federal Reserve scales back the bond-purchase program it has used to support the U.S. economy, Treasuries are drawing demand as yields in Europe fall to records amid speculation the European Central Bank will introduce additional stimulus. Fighting in Ukraine is increasing investor appetite for the safest securities.

“The bond market still has more room to rally,” said Ali Jalai, a bond trader in Singapore at Scotiabank, a unit of Bank of Nova Scotia, one of 22 primary dealers that trade directly with the Fed. “The consensus is that the ECB will announce some sort of bond-buying program.” In Ukraine, “it seems to be getting bigger and bigger every day,” he said.

The accelerating economy has been driving interest rates!

Should the U.S. apply to join OPEC?

Stealth Hyperinflation expected to become stealthier, analysts say.
Vanishing euro zone inflation seen intensifying ECB policy headache
| Reuters

Inflation in the 18 countries using the euro is seen dropping to 0.3 percent in August, following a surprise dip to 0.4 percent in July, according to a Reuters poll of analysts. The data is due at 5 a.m. ET on Friday.

Together with updated projections from ECB staff, the data is likely to lead to a lively discussion at the ECB's Sept. 4 policy meeting about whether to accelerate existing policy measures because of the danger of deflation.

lawyerliz wrote:

Should the kid feel guilty about this? ??

Only if his parents can't afford a good lawyer. The Play Center can be sued for emotional damages.

Cinco-X wrote:

I believe that Persian (Latin as well) too derives from Sanskrit

Current thinking is that Sanskrit derives from Farsi (Persian), but stay tuned.

Yoringe wrote:

Its Individuals assisting there side in a Freedom Struggle.....

It's Bring Your Own Multiple Rocket Launcher (BYOMRL) day in the rebellion

curious wrote:

I find this statistic hard to believe.

How do they handle boomers who refi three times?

Summer of Complacency is still alive!

Technicallly rose?

and non-technically?

SeaWorld Introduces Their First Test-Tube Penguin : Science : Design & Trend

SeaWorld's Penguin Encounter in San Diego has successfully reproduced a penguin through artificial insemination using frozen, then thawed semen, writes Uncover California.

The penguin named Magellan 184, just 12 weeks old, has joined hundreds of other penguins hatched at SeaWorld over the years.

The aptly named, Magellan 184, is historic because '184' is the first of any penguin species to be produced through artificial insemination - using frozen-then-thawed semen.

The technique was pioneered at the SeaWorld Reproductive Research Center.

I have an ad for California Psychics. As if Georgia Psychics couldn't give me just as good a forecast.

Yoringe wrote:

Country with the highest Concentration of War Criminals

I'm not from Sri Lanka.

Vladimir Putin is determined to send humanitarian aid to Russian speakers in Eastern Ukraine no matter how many people he has to kill to do it.

bearly wrote:

He just forgot to tell us he wanted to export more jobs.

He didn't forget; he just read his teleprompter, like all presidents do.

Russia sending aid convoy to Ukraine despite Western warnings of invasion pretext
| World
| Reuters

President Vladimir Putin said on Monday that Russia is sending an aid convoy to eastern Ukraine despite urgent Western warnings against using humanitarian help as a pretext for an invasion.

With Ukraine reporting Russia has massed 45,000 troops on its border, NATO said there was a "high probability" that Moscow could intervene militarily in the country's east, where Kiev forces are closing in on pro-Russian separatists.

European Commission President Jose Manuel Barroso delivered a blunt message in a telephone call with Putin on Monday. "President Barroso warned against any unilateral military actions in Ukraine, under any pretext, including humanitarian," the Commission said in a statement.

The Kremlin, in its own account of the conversation, made clear that Moscow would indeed send help to largely Russian-speaking eastern Ukraine.

"It was noted that the Russian side, in collaboration with representatives of the International Committee of the Red Cross, is sending an aid convoy to Ukraine," the Kremlin statement said, without saying when the convoy was going.

Got Popcorn?

When do we get hedonically weighted seasonal adustment (HWSA?)

Rob Dawg wrote:

The century old pictures show the water six-eight inches lower.

Do they have pictures of the park during Superstorm Sandy?

ResistanceIsFeudal wrote:

so there are giant undersea cows in the arctic.

No, you fool! That's Godzilla!!. When he awaken he will flatten Tokyo!

Nemo wrote:

Define "inflation"

Inflation is what a puffer fish does when it is threatened. This extends its poisonous spikes in all directions.

Yoringe wrote:

like Powerfull Forces in Germany are fed up with the US Leading.

Germany is welcome to lead the charge into bankruptcy.

Currently Smoking Cannibis
Washington Marijuana Sales Top $2.4 Million In First 3 Weeks | The Weed Blog

The Liquor Control Board says recreational marijuana license holders, in 21 days, generated more than $2.4 million in sales, translating to just over $614,000 in excise taxes.

Keep in mind the state has only issued 34 retail licenses, 111 processor licenses and 136 producer licenses. Thousands more are pending.

Jackdawracy wrote:

The only thing folks will remember

George W Bush appointed John Roberts Chief Justice of the Supreme Court, the man who saved Obamacare!

It takes two to tango but you can twist all by yourself.

When George W Bush went to war in Iraq, he sent four divisions of troops, how many divisions is Obama sending?

I think flight to not yet crashing will keep the S&P around current levels for two weeks.

The price of beef has more to do with high grain prices and the ethanol Renewable Fuel Mandate.

Jackdawracy wrote:

I thought the RR in the story was that Wall*Street fall guy,

No, this is the one lone economist who correctly called the financial crisis. His punishment for this crime is serving a term at one of the toughest central banking jobs in the world.

Antipodes quoted:

He said that the impending withdrawal of monetary stimulus by central banks, particularly the US Federal Reserve, could cause a dangerous stampede of investors out of riskier assets.

So his solution is never ending QE?