Recent comments by Rajesh

Hu Knows Im Lovin It!
China Property Prices May Drop Up to 10% This Year, SouFun Says - Bloomberg

China property prices may decline as much as 10 percent this year and the slump may extend into 2015, according to SouFun Holdings Ltd.

“Chinese property prices are seeing an adjustment after the rapid increase in the past two years,” Vincent Mo, founder of China’s biggest real-estate information website, said in a Bloomberg Television interview with Haslinda Amin in Singapore yesterday. “Prices should stabilize by the middle of next year.”

China’s new-home prices fell in all but one city monitored by the government last month from August, the most since January 2011 when the way the date is compiled changed, as the easing of property curbs failed to stem a market downturn amid tight credit. Home sales slumped 11 percent in the first nine months, prompting the central bank to ease mortgage restrictions Sept. 30.

SouFun (SFUN)’s American depositary receipts have dropped 45 percent.

“As long as China’s economy expands, the correction will be temporary,” Mo said. “The property market will probably have another hot cycle in one to two years.”

It's contained!

Rickkk wrote:


We don't allow none of that here.

Market surprised by FOMC doing exactly what everyone expected it to.

Venezuelan Bonds Rally Most in Five Years on Devaluation Wagers - Bloomberg

Maduro’s economic team has presented a series of proposals to be enacted from Jan. 1, including devaluation and an increase in the price of gasoline, Caracas-based consultancy Ecoanalitica wrote in an e-mail to clients. Foreign exchange would be concentrated into a single fund managed by the central bank and PDVSA and other some other oil exporters would be allowed to use the Sicad II market, Ecoanalitica wrote.

“From what we understand it’s a proposal,” Asdrubal Oliveros, the director of Ecoanalitica in Caracas, said today in an e-mail. “These measures need the approval of President Maduro and there is no guarantee that he fully accepts them.”

Using the Internet to deny science or oppose globalization is amusing.

Mortgage rates are headed to 5 percent. But don’t blame the Fed. - The Washington Post

The Mortgage Bankers Association expects the average rate on a 30-year, fixed rate mortgage to rise slowly to 5.1 percent by the end of 2015 -- a full percentage point higher than where it was last week -- as the U.S. economy grows and the job market improves. (Generally, strong economic performance pushes mortgage rates up.) If not for the economic and political turmoil that's erupted in other parts of the world, the forecasts for mortgage rates would probably be even higher.

"In our forecast, we're assuming that the global issues remain at a simmer," said Michael Fratantoni, the MBA's chief economist. "If they were to come to a full boil, rates would stay lower for longer."

Whether that would make a huge difference in the housing market going forward is unclear. The low mortgage rates of the past year have not helped pry home buyers off the sidelines. Last week, the number of people applying for a home loan fell to their lowest level since February, the MBA reported Wednesday. “The job market is far more important than rates when it comes to home buying,” Fratantoni said.

I'll take the under, way under.

Im shocked, shocked to find that gambling is going on in here!
U.S. prosecutors reopen probes against several big banks: NYT
| Reuters

U.S. prosecutors are reopening investigations into big banks on suspicion they may have violated agreements under which the institutions settled prior cases against them, The New York Times reported, citing lawyers briefed with the matter.

With the settlements, the banks avoided criminal prosecution and instead paid fines and implemented reforms. Among the banks named in the report were Standard Chartered Plc (STAN.L) and Bank of Tokyo-Mitsubishi UFJ [MTFGTU.UL].

In its Dealbook column, the newspaper said prosecutors in Washington and New York reopened an investigation into Standard Chartered that in 2012 settled allegations it funneled billions of dollars for Iran and other nations blacklisted by the United States.

"The prosecutors are questioning whether Standard Chartered, which has a large operation in New York, failed to disclose the extent of its wrongdoing to the government, imperiling the bank’s earlier settlement," the newspaper said.

New York's banking regulator has also reopened a 2013 settlement with the Bank of Tokyo-Mitsubishi UFJ [MTFGTU.UL] over allegations that the bank's New York branch did business with Iran, it reported, saying the bank is suspected of downplaying the scope of its wrongdoing.

The regulator "is negotiating a new settlement deal with the bank that, if finalized, would involve a penalty larger than the $250 million it paid last year."

Consulting firm PricewaterhouseCoopers, which advised the Japanese bank on the case, has also come under investigation, according to lawyers, the report said.

Standard Chartered Plc, PricewaterhouseCoopers and Bank of Tokyo-Mitsubishi UFJ could not be reached out for comment outside the regular working hours.

KarmaPolice wrote:

Are you a middle child as well?

Yes, I'm a middle child as well as the youngest.

What sane person would go to a Bill Clinton speech? Even I'm not that crazy.

We have to fight Ebola over there or it will come over here?

Kraft Foods' profit falls as price hikes hit sales
| Reuters

Kraft Foods Group Inc (KRFT.O) said quarterly profit fell nearly 11 percent as price hikes, designed to offset higher commodity costs, hit demand for some of its popular cheese and meat products.

The company's net income fell to $446 million, or 74 cents per share, in the third quarter ended Sept. 27 from $500 million, or 83 cents per share, a year earlier.

Revenue edged up 0.1 percent to $4.40 billion.

ResistanceIsFeudal wrote:

Do you think they could get that past the insurance and big pharma lobbies?

They would be the first ones to cash in on it so no problem.

It's about time Congress pass a Declaration of War against disease.

Dunta-dunta Jump the shark Dunta Jump the shark
Owl Creek Said to Seek Group to Accelerate Argentine Debt - Bloomberg

Owl Creek, a New York-based hedge fund with $3.9 billion of assets, is also in talks with law firm Kirkland & Ellis LLP to find interested investors who hold dollar-denominated securities due 2038, said the people, who asked not to be identified because the talks are private. The group would need to hold at least 25 percent of the $5.4 billion of debt to accelerate after they officially fall into default Oct. 30, when a 30-day grace period expires, according to the bond contracts.

In an August presentation for its Argentina Recovery Fund, Owl Creek said accelerating the so-called par bonds -- which trade at about 54 cents on the dollar -- may provide investors with a gross return of 100 percent in a subsequent restructuring. The company said that could take place as soon as January, when Argentina may negotiate with a separate group of investors who won a lawsuit to block payments on the nation’s overseas debt until bonds from its previous default in 2001 are paid in full.

The bonds “have the right to accelerate and have their principal immediately payable in full,” Owl Creek’s presentation said. “This would lead to a seat in settlement negotiations in January, likely resulting in an exchange into new bonds which trade closer to par.”

Rob Dawg wrote:

Art I, Sec 9.

Transcript of the Constitution of the United States - Official Text 

Section. 9.

The Migration or Importation of such Persons as any of the States now existing shall think proper to admit, shall not be prohibited by the Congress prior to the Year one thousand eight hundred and eight, but a Tax or duty may be imposed on such Importation, not exceeding ten dollars for each Person.

The Privilege of the Writ of Habeas Corpus shall not be suspended, unless when in Cases of Rebellion or Invasion the public Safety may require it.

No Bill of Attainder or ex post facto Law shall be passed.

No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or enumeration herein before directed to be taken.

No Tax or Duty shall be laid on Articles exported from any State.

No Preference shall be given by any Regulation of Commerce or Revenue to the Ports of one State over those of another: nor shall Vessels bound to, or from, one State, be obliged to enter, clear, or pay Duties in another.

No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.

No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State.

Which invasion are we talking about?

Cinco-X wrote:

There are provisions in the US Constitution to suspend some rights temporarily if needed to ensure public safety.


You can get Ebola from robo callers?

New handyman clerk at Lowe's is a robot

Lowe's, one of the biggest retail hardware and DIY stores in the U.S., unveiled on Tuesday its first in-store robot clerk: OSHbot.

The company is setting the roughly 5-feet-tall autonomous robot loose on unsuspecting consumers sometime soon in its San Jose, California-based Orchard Supply Store, a chain that's owned by Lowe's.

Developed by Fellow Robots, in partnership with Lowe's own Innovation Labs, OSHbot is to have a map of the store and obstacle avoidance abilities to make its way through the aisles. It will feature a large, 19.5-inch touchscreen on the front and be able to use speech recognition to communicate in English and, soon, a number of other languages, including Spanish. There's another even larger screen on the back of OSHbot, which appears to be primarily a place to run advertisements and in-store promotions.

sum luk wrote:

nobody (important) really lost last time

I'm sure the GM bondholders feel that way.

dilbert dogbert wrote:

The shuttle was a political decision driven by the question of what to do with the infrastructure, supply chains and talent developed during the Moon Landing race.

The shuttle was a political decision driven by the question of what to do with the infrastructure, supply chains and talent developed during the Moon Landing race. how to pay off the family in Utah for helping get Nixon elected.

Its different this time
The equity cult alive and kicking, despite deflation threat
| Reuters

The "equity risk" premium - how much more stocks are expected to return than bonds - is more than 7 percent in the euro zone and UK, and 10 percent in Japan. Even the lower U.S. premium of 6 percent, which suggests Wall Street is starting to look a little expensive, still offers a decent return.

Even those who think these risk premia are too low say there are reasons why it may be different this time, the main one being that the returns offered by bonds and cash are simply too low.

"Investors have no option but to accept higher risk if they wish to meet their future income requirements," said Keith Wade, strategist at fund management giant Schroders in London.

Wade also reckons that equity markets, much like bonds post-crisis, essentially now have the back of global policymakers, who will do all they can to support the economic recovery and prevent renewed financial market distress and volatility.

As Rupert Murdoch might say, "When life hands you Ebola, make Ebola hysteria."

Bubblisimo Gerkinov wrote:

The hysteria over Ebola in the first world is ridiculous imo.

The hysteria over Ebola in the first world is ridiculous imo well planned.

Antares explodes moments after launch | Spaceflight Now

2123 GMT (6:23 p.m. EDT)
Contingency operations are in effect. Damage appears contained to the launch pad itself.

2122 GMT (6:22 p.m. EDT)

2122 GMT (6:22 p.m. EDT)
LIFTOFF of the Antares rocket with the "Deke Slayton" Cygnus cargo craft, resupplying the International Space Station with provisions and experiments.

Damn Klingon agents!

Bubblisimo Gerkinov wrote:

The clowns with dildos don't seem so bad now.

I still hate Congress.

Former Idealist wrote:

Because it's hopeless.

Ten Facts You May Not Know About The Federal Budget - Blog - Senate Budget Committee

8) We’re spending less than the bipartisan Bowles-Simpson commission called for, but we’re also generating a lot less revenue.

In 2010, the Bowles-Simpson commission called for federal spending to total 21.4 percent of GDP by 2014. In fact spending in 2014 was just 20.4 percent of GDP, one percentage point lower than the commission called for. Bowles-Simpson called for revenue to be 18.8 percent of GDP in 2014, but it was actually 17.6 percent of GDP.

U.S. Fed awards $219 billion of term deposits
| Reuters

The Federal Reserve awarded $219.114 billion of seven-day term deposits to banks, a record amount, at a test auction held on Monday, it said in a statement on Tuesday.

The U.S. central bank allotted them to 69 banks which will receive an interest rate of 0.26 percent.

This compared with the $171.86 billion in deposits awarded a week earlier to 66 banks which received an interest rate of 0.26 percent.

The Fed has ramped up testing of its term deposit facility after the 2008 financial crisis to help policymakers drain cash from the banking system when they decide to tighten monetary policy.

On Sept. 4, the Fed said it plans to conduct a series of eight seven-day TDF operations starting in October. These tests will have an early withdrawal feature in which banks can enter into the TDF and pull the money out before the maturity date if they pay a charge.

In the first four operations, there is a $20 billion cap per bank and the interest rate paid on the deposit is set at 0.26 percent. The next four operations, the interest rate paid will rise "in small steps" but it will not go above 0.30 percent.

Wearing a sock while blogging protects you from Ebola.

Japan Sept retail sales rise 2.3 percent year-on-year
| Reuters

Japanese retail sales rose 2.3 percent in September from a year earlier, government data showed on Tuesday, suggesting consumer spending is gradually picking up.

The rise was more than a 0.6 percent increase expected by economists in a Reuters poll and was the fastest increase since March. It followed a 1.2 percent annual rise in August, the data released by the Ministry of Economy, Trade and Industry showed.

The government raised the national sales tax to 8 percent from 5 percent on April 1 to help pay for healthcare and welfare spending, but consumer spending has been lacklustre since the tax increase.

Inflation including the tax increase is 3.1 percent. So real retail sales are still down year over year.

That's OK. I think as five (six sometimes) so I push the average up.

Instead of smaller plates, smaller rooms?

Germany Leaves the Euro Zone, and the Problem Is? | Beat the Press

If Germany left the euro zone, the problems of the other countries would be largely over. The euro would presumably fall in value against the new deutschemark, allowing the countries of southern Europe to quickly regain their competitiveness against Germany. The resulting reduction in their trade deficit would be a major boost to growth and employment. And this could be done without the financial disruptions that would be caused by the southern European countries leaving the euro.

So the question is, if Germany threatened to leave the euro zone, why wouldn't the other countries just say "please do?"

Can they take Texas with them?

Jackdawracy wrote:

apartment tightness numbers.

Another measure of the obesity crisis?

Jackdawracy wrote:

What's the spot price on a barrel of whale oil?

Would you like a side order of whale blubber with that?

EngineerJim wrote:

what ever happened to cold fusion ?

Andrea Rossi's E-Cat Devours Lockheed's Hypothetical Compact Fusion

Due to the existence of the E-Cat or Energy Catalyzer, there is no reason – whatsoever – for traditional hot fusion projects to be proposed or continue. No complicated, expensive “hot fusion” technology can compete. Andrea Rossi's technology offers a way of producing vast amounts of power while using no radioactive materials, producing no nuclear waste, and emitting no radiation into the environment. In addition, E-Cat reactors can be made from nearly all off the shelf components; once mass produced, they will be dirt cheap. So the announcement by Lockheed Martin's Skunk Works division of their theoretical plans for a Compact Fusion Reactor or, more formally, the “High Beta Fusion Reactor” seems to have been little more than a move of desperation.

The fancy graphics produced by Lockheed to promote their currently non-existent claim the technology will “restart the atomic age.” In reality, the technology to eliminate the use of fossil fuels and eliminate the use of dangerous conventional fission reactors already exists in the form of the E-Cat. For a number of years, experiments with real world E-Cat reactors (which are small enough to fit on a desktop) have proven they are capable of producing several times more power out than they consume. Certain tests of the E-Cat have demonstrated the ability of the technology to completely self sustain – producing a constant output of power without any input except for the small amount needed at start up. Moreover, the Energy Catalyzer is capable of producing extremely high temperatures in a stable manner (over 1,400 degrees Celsius) beyond what is required for electrical generation with standard turbines.

RE wrote:

Amazon teflon is finally cracking.

Amazon is like Microsoft in the 90's. Patiently bringing late to market products, quite a few of which fail. The first Kindle was a failure but now it is an established product line. Expanding the line into phones isn't working yet but they can afford to miss because it's a small fraction of their business.

Asteroid mining company Planetary Resources launching first spacecraft - GeekWire

Planetary Resources’ launch of the Arkyd 3 engineering demonstrator on Monday will test not only the company’s technology but also its business model, using relatively low-cost approaches to explore space and ultimately mine lucrative natural resources from asteroids.

The mission is scheduled to start at 3:45 PM Pacific time today, with the launch of an Orbital Sciences Antares rocket carrying a Cygnus cargo freighter from Wallops, Va., to the International Space Station. Planetary Resources’ Arkyd 3 satellite will be on board as part of the Cygnus payload.

The cost of the launch for Planetary Resources is hundreds of thousands of dollars, not millions.

“Fortunately we’re in a world today, in aerospace and commercial space, where a company like ours can just buy a launch to space for something that is actually privately financeable and fits within our overall process,” Lewicki said in an interview with GeekWire. “We don’t need to buy an entire rocket for launching satellites anymore. We can just hitch a ride with things that are already on their way.”

energyecon linked:

China Oil Demand Surged 7.4% in September from a Year Ago

The economy grew 7.3% over the year and oil demand grew 7.4% over the year.

It's almost as if oil intensity of the economy has peaked.

energyecon linked:

For how long will Venezuela import crude oil?

The better question is how they will pay for crude imports and food for its population.

Worldwide deflation spiral looms as Federal Reserve policy sputters |

Eternal vigilance against inflation is giving way to widespread concern about the opposite: A protracted period of falling prices. Or, if not outright deflation, a persistent weakness the Economist magazine dubs “lowflation.”

Prices are flat or falling in Europe. Japan is struggling after two decades of deflation. Even in China, price growth is half the official 4 percent target.

Investors seem worried, pushing down bond yields and prices of stocks and commodities in volatile trading this month.

But hold on a second. Falling prices are great for consumers.
However, the good news ends there, because most consumers are also workers. And deflation or lowflation is bad for workers.

Increasingly, when businesses try to raise prices, consumers are responding by cutting spending.

Nestle, the world’s biggest food company, told investors recently that it has no pricing power in key markets, a sober analysis shared by rivals making everything from ice cream to whiskey.

It’s this backdrop of economic weakness that makes deflation so scary to economists and policymakers. We’ve been here before; see Japan since the 1990s and the entire world in the 1930s.

ResistanceIsFeudal wrote:

A capital asset that you can eat

Those are trading Spam, spam, spam, spam, spam, bacon and spam , not eating Spam, spam, spam, spam, spam, bacon and spam .

Twitter user-engagement falls 7 percent, shares dive
| Reuters

Twitter Inc reported a disappointing 7 percent slide in a key measure of engagement by its users in the third quarter, triggering a selloff of more than 9 percent in its stock on Monday.

Some investors had raised fears about declining Twitter usage as other social media and mobile messaging services become more popular. On Monday, the online messaging service also projected fourth-quarter revenue that may miss Wall Street's heightened expectations.

The company reported monthly active users rose 23 percent to 284 million in the quarter, meeting expectations on an important metric scrutinized by investors, who worry that Twitter's growth has peaked. That followed 24 percent growth in the second quarter.

But timeline views per user, which measures engagement, slid 7 percent globally to 636. Views slid 6 percent in the United States to 774. And overall, total timeline views of 181 billion slightly missed analysts' expectations.

On Monday, the messaging service said revenue more than doubled to $361 million in the third quarter, beating an average forecast for $351.4 million. But it projected sales of $440 million to $450 million in the holiday quarter, versus expectations for around $448.8 million.

Shares in the company slid 9.1 percent to $44.17 in after hours trading, after closing at $48.56 on the New York Stock Exchange.

Cinco-X wrote:

I bought a car this month.

Did you buy it or did you borrow it from the bank/lender?

Across the Curve » Blog Archive » Deja Vu All Over Again

Washington Auto Credit, just one of many similar companies in a burgeoning industry, helps would-be car owners find financing for their vehicle purchases by connecting them with a growing crop of subprime car lenders. On its website, it lists Flagship Credit Acceptance, a relatively new auto lender backed by the private equity firm Perella Weinberg, as one of its partners.

Remember, these are sales from the manufacturer to the dealer, not from dealer to customer/lessor.

Is there a vehicle repossession index?

Brazil's Rousseff re-elected by grateful working-class, country divided
| Reuters

The 66-year-old Rousseff, who was a Marxist guerrilla in her youth, overcame growing dissatisfaction with the economy, poor public services and corruption to narrowly clinch a second term for herself and the fourth in a row for her Workers' Party.

After a bitter, unpredictable campaign that pitted poorer Brazilians grateful for government anti-poverty programs against those exasperated with a stalled economy, Rousseff must now seek to continue flagship social services even as she tweaks economic policies to restore growth.

Most investors are skeptical that Rousseff can turn around the slumping economy after four years of ineffective industrial policies. Futures contracts for Brazil's Bovespa stock index expiring in December INDZ4 fell more than 6 percent on Monday before the Sao Paulo stock exchange opened, while Brazil's currency BRBY slipped 3 percent to a nearly six-year low.