Note: I’m here in San Diego County in my new/old 39 foot Chevy Motorhome. I can’t get a signal for my Verizon LG smartphone (I’ll be taking a spin in my Ford Explorer in search of a signal; my VOIP phone, magicjack requiring a broadband connection, is currently not up except for voicemail). The radio reception is also limited which led me to ‘sample’ some limited AM offerings which included shallow sean hannity the hallmark of insanity, and ‘rush revere’ (limbaugh… he’s totally burned out, relegated now to authoring children’s illustrated books of a simplistic nature). Shallow sean’s latest ‘crusade’ (beyond the same

note/key obvious debacle of wobamacare) was defense of the indefensible mobster but friend of sean’s, donald trump (trump should be in jail). In defense of t_rump, he offers up the teeny wohlman skating rink project as evidence of t_rump’s contribution to NYC (too small for high new york priority given the magnitude of New York substantial problems, some largely the result of trumpish tastes, ie., gold trump tower fixtures, etc., that trump’s ‘pre-packaged bankrupcies’ seem to fail to touch, and which extravagance must be paid for by someone, but not him). Shallow sean’s excoriation of new york city never seems to link the obviousness of t_rump’s grandstanding responsibility for same. After all, someone ultimately has to pay for trump’s disproportionate non-value-added livin’ large. No talk of trump’s ingratiating bribe strategy for protection ( ie., retainer’s to law firms linked to state attorney generals, viz., {kimmelman} wolf and sampson, chris droney’s brother, his sister’s protection/corruption and quid pro quo from the federal bench, etc., and as well, protection of drug-money laundering through his now nominal only casinos … See, ie., http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf  http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm  http://albertpeia.com/fbimartinezcongallard.htm  .  Trump’s a fraud! I won’t be listening to ‘rush revere’ or shallow sean prospectively. They’re a waste of time and preposterous given their unbridled support of war criminals bush, cheney, etc., and the failed debacles they created, etc……

 

 

Today, America's Foodstamps Program Gets A 6% Haircut: What Happens Next?

Submitted by Tyler Durden on 11/01/2013 - Today, one of America's best-known welfare programs with 47.6 million participants or 15% of the total population, the Supplemental Nutrition Assistance Program also known as "foodstamps" or EBT, is due for a substantial haircut: beginning Friday, there will be a phased in $5 billion reduction (6% of the program) for the 12 month period starting November 1st 2013. So what happens next? 

 

Are Conspiracy Theories The Biggest Threat To Democracy?

Submitted by Tyler Durden on 11/01/2013

What is the common element between Liborgate, the Fed manipulating capital markets, China hoarding gold, and the recent ubiquotous NSA spying revelations? At one point, before they became fact, they were all "conspiracy theories" as were the Freemasons, the Illuminati, McCarthy's witch hunts, 9/11, and so many more. The same theories, which are now part of a Cambridge University study titled Conspiracy and Democracy,  which looks at the prevalence of conspiracy theories and what they tell us about trust in democratic societies, about the differences between cultures and societies, and why conspiracy theories (ostensibly before they become fact) appear at particular moments in history. But, at its core, whether conspiracy theories will, as the BBC summarizes, it, eventually destroy democracy.

 

Top U.S. Hospitals Are Opting Out Of Obamacare

Submitted by Tyler Durden on 11/01/2013 - Americans who sign up for Obamacare will be getting a big surprise if they expect to access premium health care that may have been previously covered under their personal policies. Most of the top hospitals will accept insurance from just one or two companies operating under Obamacare. Watchdog.org looked at the top 18 hospitals nationwide as ranked by U.S. News and World Report for 2013-2014. We contacted each hospital to determine their contracts and talked to several insurance companies, as well. The result of our investigation: Many top hospitals are simply opting out of Obamacare.

 

Obama Issues Executive Order To Prepare For Climate War

Submitted by Tyler Durden on 11/01/2013 -

Two months ago we reported that Obama had officially declared war on the weather, after it was reported that he was ready to use "administrative authority" to fight climate change. While at the time it was not quite clear just what authority he had to unleash centrally-planned weather, today we finally got a glimpse of how Obama's biggest war yet would look like. As Washington Times reports, "President Obama issued an executive order Friday directing a government-wide effort to boost preparation in states and local communities for the impact of global warming. The action orders federal agencies to work with states to build “resilience” against major storms and other weather extremes. For example, the president’s order directs that infrastructure projects like bridges and flood control take into consideration climate conditions of the future, which might require building structures larger or stronger — and likely at a higher price tag." In other words, following the epic Syrian fiasco, whose primary intention was to boost the US budget deficit as a result of a localized war, and allow Bernanke more debt issues to monetize, Obama now has decided to unleash a very expensive, and very much debt-funded war against the greatest enemy of all: the weather.

 

Spain-Based Fagor, Europe's Fifth Largest Appliance Maker, On Verge Of Bankruptcy

Submitted by Tyler Durden on 11/01/2013 - 17:46 There has been much media insinuation in recent months that just because Spain's economy has virtually shuttered, and imports have slid to unprecedented low levels in the process pushing the (adjusted) GDP beancount positive for the first time in 3 years, that things are somehow getting better. What the media has roundly ignored is that as a result of the collapse in consumption and end demand, courtesy of an unemployment rate that at least according to Eurostat just rose to a new record high, the companies that actually operate in Spain and form the basis for any real economic growth, are shuttering at an unprecedented pace. Of note: Spanish electrical appliance maker Fagor, which employs 5,700 people worldwide, or in a few shorts months, employed, is one step closer to bankruptcy after its Polish subsidiary filed for protection from its creditors. The company, which claims to be the fifth-biggest electrical appliance company in Europe, had trading of its debt suspended after its mother firm - private Spanish conglomerate Mondragon - refused to pour in money to rescue the company.

 

LAX Shooter Identified, "Wanted To Kill TSA And Pigs"

Submitted by Tyler Durden on 11/01/2013 - 16:53

Contrary to initial reports that the shooter was an off-duty NSA agent, subsequent updates have revealed that the LAX shooter, who reportedly is still dead, although unclear if he was killed before or after he was in police custody, as Paul Anthony Ciancia, a 23-year-old who was either a Los Angeles native, or from Pennsville, N.J. Additionally, we have learned that according to a law enforcement official, who was briefed at LAX on the investigation but not authorized to speak publicly, said the gunman was wearing fatigues and carrying a bag containing a hand-written note that said he "wanted to kill TSA and pigs." The official requested anonymity because he was not authorized to speak publicly. Considering the accuracy with which this news event has been broken, most of it relying on unsubstantiated and often times fake Twitter sources (some had reported earlier, falsely, that the former NSA chief had been shot as well), we won't be surprised if this story were to change a few more times.

 

Who Are The Biggest Whiskey Drinkers In The World?

Submitted by Tyler Durden on 11/01/2013 - 16:22

Hint: it's not the Irish.

 

The Bubble Most Go On: Stocks Buck Two-Day Taper Trade, Break Losing Streak With Late Day Surge

Submitted by Tyler Durden on 11/01/2013 -

Looking at all non-equity asset classes, one would be left with the impression that the December taper is an increasingly likely outcome. Sure enough - bonds sold off again, and have been selling off consistently since the FOMC announcement. In fact they are poised to close at 2.62%, the highest yield since October 22. The dollar, inversely, ramped higher on both EUR woes and the expectation that its destruction may "taper" in the near future. As expected, gold did the opposite of the dollar, and Gartman's latest reco, and continued its sell off for the third day in a row: Thus the taper trade continued for the second day in a row in all asset classes, except stocks of course. Despite breifly dipping into the red shortly after today's conflicting manufacturing reports, the late day ramp was once again on location, and helped push ES nearly to a new intraday high in the minutes before the close, before a shakedown took place just after the close, sending ES sliding after hours, and wiping out the entire 3:30 pm ramp in seconds. It can be seen just where the rug gets pulled moments after the 4:00 pm close of trade. And so we close another week of mad fun with Mr. Chairman's, soon to be Mr. Chairwoman's manipulated, frothy, bubbly, markets.

 

Peeking Inside Yellen's Mindset

Submitted by Tyler Durden on 11/01/2013 - 15:27

Bloomberg printed an article about Yellen’s educational background, noting that two of her professors were James Tobin and Arthur Okun.  The article is interesting because the Fed is currently trying to implement QE and “Twist” which are theories developed by these two Nobel Laureates.  Tobin attempted a form of “Twist” in the 1960’s.  He also championed Keynesian ideas and advocated government intervention to stabilize output and avoid recessions.  Okun developed an empirical “law” relating” changes in unemployment to GDP.

 

Unaffordable Recreation And The Ratchet Effect

Submitted by Tyler Durden on 11/01/2013 - 15:03

Affordable recreation may not make the list of entitlement "rights" that many demand, but isn't recreation as much a public good and resource as highways? In terms of jobs created, I suspect recreation is relatively high on the list of jobs created with relatively low government spending. I cannot shake the suspicion that recreation is an obvious choice for revenue enhancement because it presumes people with disposable income can afford the higher fees and won't complain in politically meaningful ways. We complain privately but pony up the higher fees without questioning their validity. If we add up these dynamics, we find them everywhere in the economy. Recreation is simply one egregious example of how costs rising far faster than wages end up crimping what was once affordable for the majority. Luckily, we still have tent-camping (oops, tents can cost a pretty penny now, too...).

 

 

Pictures From LAX Crime Scene Reveals Shooter Weapon

Submitted by Tyler Durden on 11/01/2013 - 14:43

NBC has just released the following pictures from the scene of the schooting, and it appears that the weapon used is, once again, an AR-15.

 

LAX Shooting Update: Gunman Killed By Law Enforcement

Submitted by Tyler Durden on 11/01/2013 - 14:21

 

 

Nasdaq Gives Up: Will Not Unhalt Options Market Today

Submitted by Tyler Durden on 11/01/2013 - 14:15

Just when you thought Healthcare.gov was the worst designed system and that nothing could match government incompetence, here comes Nasdaq, and adding insult to repeated shutdown injury from over the past several months, has just announced it will not unhalt the Options Market before the weekend, and will cancel all open orders. As for the scapegoat: "a significant increase in order entries." In other words, a blast of HFT quote churn again - just like the flash crash.

 

LAX Shooting Update: One TSA Agent Killed, Shooting Suspect Is Off-Duty TSA Agent

Submitted by Tyler Durden on 11/01/2013 - 13:56

 

 

Goldman's Stolper Opines On The EUR, Says ECB Rate Cut Is A Buying Opportunity

Submitted by Tyler Durden on 11/01/2013 - 13:33

After briefly becoming the strongest currency in the world for 2013, yesterday's stunning inflation report out of the Eurozone has not only left the massively overblown European recovery story in tatters (but... but... those soaring PMIs, oh wait, John Paulson is investing in Greece - the "recovery" is indeed over), has sent the sellside penguins scrambling with the new conviction that the ECB now has no choice but to lower rates once again, either in November or in December. So with everyone confused, we were hoping that that perpetual contrarian bellwether Tom Stolper, who just came out with a report, may have some insight. And sure enough, while the long-term EUR bull admits that "the ECB could move the EUR/USD cross by about 5 big figures by cutting the refi rate by 25bp" and that "it is quite possible that we will see EUR/$ drop further towards 1.33", he concludes that "an ECB rate cut could turn out to be a buying opportunity to go long the EUR." And now we know: because what Stolper tells his few remaining muppets to buy, Goldman is selling: if and when the ECB cuts rates, do what Goldman does, not what is says: sell everything.

 

 

 

NSA Spied on World Bank, IMF, UN, Pope, World Leaders, and American Politicians and Military Officers

Posted by : George Washington

Post date: 11/01/2013 - 12:45

Proof that NSA Spying Is Not Very Focused On Terrorism