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Now you've gone from sugar to pigs?
Might want to short OINK at 1.77 looking for 1.40; don't want to see it take out the 1.88 earlier high today.
OINK 1.77 last. Trade-able and with heavy volume.
You should have said; I think we might Bounce Up off S&P 1647.
Then I would have paid attention
LOL What a turn around we now have for what ever reason.!
A capital idea re Santelli tinner.
I'm back. Dow and S&P little changed. Naz down sharply.
LOL If you choose to post something from somebody make sure they tell the TRUTH..... something they sure seem to have a real hard problem with once again!
Walgreen’s will still bear much of the cost of its employees’ coverage, through fixed stipends it grants employees to help pay for care. But workers will now have to educate themselves more, choose coverage from a wide range of options, and pay the difference if they choose Cadillac coverage that costs more than the subsidy covers. The idea is to give employees a stronger incentive to control health care spending, by requiring them to pay more of their own money as costs rise.
Obamacare's Implementation Threatens A Golden Age For The Healing Arts
By Dr. Ben Carson & Rep. Michael Burgess
10/06/2013 @ 8:AM
Medical practice and healthcare policy are on a collision course. From an intellectual perspective, we are entering a golden age of the healing arts. The full promise of genomic medicine informing diagnosis and treatment beckons from just over the horizon. Younger physicians, just entering practice, have the ability to alleviate human suffering that no generation of doctors has ever previously known.
But not so fast.
The administration of health care policy, and ultimately dollars, are also undergoing a generational shift. But this shift is founded on some of the most irrational politics this country has ever seen. Future generations observing the political changes of the past five years will invariably say, “what were they thinking?”
The Affordable Care Act was not the product of any informed or learned group, it was a hastily contrived political farce that was literally cobbled together at the last possible minute. It was never intended to become law — except that it did. For the past 3 1/2 years literally “all the kings horses, and all of the kings men” have pushed and prodded to give it the appearance of workability. We are on the threshold of finding out if they were successful.
In medicine, we sometimes talk about the compression of morbidities, how the ravages of time and multiple maladies may overwhelm the patient at the end of life. That compression sequence also seems to describe afflictions of the Affordable Care Act as it careens towards implementation.
What a missed opportunity. For decades, the cost of healthcare and health insurance has worried Americans. And as we get closer to the full implementation of the Affordable Care Act, costs are not shrinking, they are only going up — way up.
Where was the innovation when this scheme was contrived? Why not look at some of the state models, such as the Healthy Indiana program, which reduced costs over 10% in a two year span? Where was the study of vertically integrated delivery systems such as the Mayo and Cleveland clinics?
Last week a headline in the Wall Street Journal reported that Walgreens has told their employees that they were not going to pay for health insurance coverage any longer, we will give you money instead, good luck in the exchanges and we will see you on the other side. Walgreens is only one of many companies such as UPS, IBM, and Trader Joe’s that have announced that they are dropping family coverage. Several Unions wrote to the minority leader in the House of Representatives and the majority leader in the Senate stating: please help us. We helped you manage your phone banks and walked neighborhoods for you. We helped you get elected. The administration is not listening to us. They have broken the contract with working Americans by voiding the 40 hour work. By redefining full-time employment as 30 hours, they have essentially broken the back of the middle-class.
The American people, regardless of political persuasion, are crying out for help.
It’s hard to overlook the big pieces of the president’s health care plan which are simply being ignored or jettisoned. From coverage of pre-existing conditions, to annual caps on out-of-pocket expenditures to the suspension of the employer requirement to provide health insurance; the administration has signaled that in many ways it is not serious about the implementation of this law.
And yet in hearing after hearing, directors of federal agencies maintain the assertion that all will be ready for people on October 1 to sign up, and January 1 to receive benefits. And not to worry, order will surely emerge from this chaos. Unless it does not.
This all leads us to the most important question. What kind of country and ideals we want to leave to future generations?
America was supposed to be a place where people could pursue their dreams in peace and without interference. The government was supposed to provide them with protection without disrupting their daily lives.
We were supposed to be different than the governments of Europe which dominated every aspect of their citizens’ lives. Obamacare represents a giant leap toward European-style socialism. If we can agree as a nation that that is what we truly want, let’s stop pretending to be a nation that holds the freedoms of its citizens’ in the highest regard. If on the other hand, we are truly a nation for, of and by the people, the people cannot be passive and expect freedom to last.
Congressman Michael Burgess represents the 26th District of Texas. He serves on the Rules Committee and Energy and Commerce Committee.
Dr. Ben Carson is an emeritus professor of neurosurgery, oncology, plastic surgery, and pediatrics at the Johns Hopkins School of Medicine.
http://www.forbes.com/sites/realspin/2013/10/06/obamacares-implementation-threatens-a-golden-age-for-the-healing-arts/
Could somebody please take Santelli outside and beat the crap out of him.
Now now we need him to remind us of the past just like when FAUX news is proud to tell us when they have a former Bush adviser on air like they know anything..............helps us to never forget!
So much easier to just sit back and let the titans manipulate one another, sooner or later the really big money players will either take a few politicians behind the Capital building and beat some sense into them, until that happens, this is going to be slow death, followed by one quick relief rally, followed by more misery.
The Republicans might even win this battle of shutdown, but what they have really done is just killed what little confidence anyone had in this economy and America.
But that was the plan from 2009, just like Jackie Robinson breaking into the Majors. He might of changed the game for the better, but the true owners of the game still did not like it.
Could somebody please take Santelli outside and beat the crap out of him.
The market is taking GS's call to sell gold to heart but the Beckerheads are exploding. I love it.
Back to cash, will probably also do some errands today, too much uncertainty, have my list of better name stocks, but even FB took a hit yesterday, and they supposedly liked that one.
These days have gotton longer, the mornings can look one way, but by the close, you feel like you have been in a war.
Credit scores are like SAT scores; they may get you in but they'll surely keep you out. People use 'em because it's a lot easier than thinking. Run into some financial difficulty, [most of us do] andf your lovely credit score goes down the loo. Screw 'em, try not to depend on 'em.
I see the Red Sox and Dodgers in the Series; man, that'll be a lot of air miles.
Until we have some certainty from Washington on the various issues being debated, I doubt the stock market will do much of anything. But then you never know when one of the different parties can come to a microphone and say something stupid, like defaulting on the debt doesn't matter.
In some ways defaulting on the debt doesn't matter, because many of us already have a thought that is exactly what they will end up doing. It's like opening Pandora's Box, once its opened you have to live with the consequences of those actions.
The world will still love our dollars, compared to their currencies, ours will always look good, but to some of us, defaulting on your debt means that if you are willing to play this game, who knows what else America could do in the future.
There is a reason why we all have Credit Reports, I remember when mine was over 800, I would get looks from the finance manager claiming that he never saw many scores that high. Then I also remembered when after my business failed back in the 80s that my credit was poor. Everything was so much harder to do, just getting the utilities turned on required deposits and all kinds of extra paperwork.
I once reminded my children that a good credit report in America, is almost as important as a good education. When you apply for a job, companies will pull your credit report and use it as a guidance tool in the hiring procedure.
So let America default on its debt, once that argument, and realization is over with, maybe we can get back to the real economy of creating jobs and moving forward. We will just know that at any time America could really default on all of its debts. You just cannot count on anything more in this country, except for spoiled politicians who enjoy playing games with the Americans they were once elected to serve.
SEC sees flaws in new Treasury asset manager report: sources
By Sarah N. Lynch
Mon, Oct 7, 2013 7:07 PM EDT
WASHINGTON (Reuters) - Federal securities regulators had warned of flaws in a U.S. Treasury draft report that could lead to costly regulations on large asset managers, people familiar with the matter told Reuters on Monday.
Last week the Office of Financial Research released the report, which found that activities of asset managers could pose risks to the broader marketplace.
It sent shockwaves through the industry, because the findings could encourage regulators to designate big asset managers as "systemic" - a tag that brings tough capital requirements and supervision by the U.S. Federal Reserve.
The Securities and Exchange Commission, however, had been quietly advocating for major changes to the study for months, according to the sources.
One of the SEC's chief concerns stems from an earlier draft of the report that the agency felt exaggerated the riskiness of the business. The SEC has also been concerned that the people involved in the study lack a fundamental understanding of the fund industry itself, these people said.
The Treasury's research arm failed to take a number of the SEC's critical feedback into account, said the sources.
As a result, the SEC decided last week to issue the report for public comment, in a move designed to give the industry a way to vent, one person familiar with the matter said.
A spokesman for the SEC declined to comment.
Richard Berner, the director of the Office of Financial Research, said he was not aware of any initial concerns by the SEC during the drafting of the report, but added that his office valued the feedback it received.
"We wanted to make sure we engaged with the SEC among others, so we would incorporate any suggestions or concerns they had about the report and make sure we got the facts right," Berner said in an interview with Reuters.
"I can't speak to any initial concerns because I don't recall any such concerns explicitly being in our discussions with the SEC. What I do recall is a mutual recognition that asset managers are fundamentally different from other kinds of financial services companies or activities...I don't think there was any disagreement about that."
TURF BATTLE?
The SEC's decision to seek public comments on the controversial report could lay the groundwork for a turf battle between the SEC, the traditional regulator of mutual funds, and the Financial Stability Oversight Council, or FSOC.
The FSOC, which comprises the heads of the top financial regulators including the SEC, asked the Office of Financial Research to study the asset management industry to help inform it about the selection of "systemic" firms.
Some of the country's largest asset managers, including Blackrock Inc., Fidelity and Vanguard, have been staunchly opposed to such a designation.
Most fund companies contend they are already heavily regulated by the SEC and feel the FSOC should back off and let the SEC do its job.
Some said they were taken aback by last week's report, which found that "a certain combination of fund and firm level activities within a large, complex firm or engagement by a significant number of asset managers in riskier activities could pose, amplify or transmit a threat to the financial system."
According to people familiar with the matter, the SEC has been struggling to convince the Office of Financial Research to change its report for months.
The first draft, which was circulated around the SEC earlier this year, was deeply flawed, according to several people familiar with the agency's thinking, because they said it appeared to be written by people with limited understanding of the industry.
The sources familiar with the SEC position said, for example, that the Treasury researchers overstated risks that are inherent and routine in securities investments. They also failed to understand that when a fund buys shares, it is doing so with investors' money - and is not typically putting its own capital at risk.
"I think they are seeing more risk in the asset management business than anyone at the SEC would recognize," one of those people familiar with the SEC's thinking told Reuters.
INDUSTRY GEARS UP TO FIGHT
Industry sources say firms are gearing up to file critical comment letters with the SEC about the Office of Financial Research's asset management report.
"The report is misleading and inaccurate," on topics such as sponsor report for mutual funds, said a spokesman for Federated Investors Inc.
"Federated is ...considering whether to submit a comment letter to the SEC."
Industry officials also say the report contains basic factual errors about firms, such as their names, organizational structure and assets under management, something that undermines their confidence in the study.
They also say they have broader concerns about how the report examines risk in the sector, claiming it views asset managers through a banking regulatory lens and fails to distinguish adequately between registered funds that are already highly regulated versus unregistered funds that face less regulatory oversight.
Berner acknowledges that there are data gaps about the asset management industry, which is why he said his office had an "open door policy" with trade groups and fund managers.
He said he reached out to all of the trade groups, plus a few asset management firms.
However, he said he is proud of the final product and disagrees that the report failed to distinguish differences between the banking and asset management sectors.
"The truth is, we recognize and the council recognizes that asset management activities in the industry are different from banking activities and the banking industry," he said.
http://finance.yahoo.com/news/sec-sees-flaws-treasury-asset-224259424.html
I'll be out from 9:00 am to noon or so.
I thought the Detroit/Oakland game was played very well, but for Tampa's reliever to come in and give up the go ahead run on a wild pitch is not what I call a great baseball outcome.
The playoffs, and all the games including the World Series should be played to higher expectations. I want see great fielding, timely hitting, and every call on the field by the umpires perfect. The umpire behind the plate made a lot of questionable calls, I am not sure if that would of changed the outcome. But I never enjoyed umpires who make bad calls.
Good luck to Boston, they will have their hands full with Detroit, as for the National League, I am still looking for the Pirates to advance against the Dodgers.
[Ot] Red Sox beat Tampa 3-1 to take A.L. Division Series.
After Snatching Olympics, Japan Suddenly Admits Fukushima Not “Under Control,” Begs For International Help
By Wolf Richter
October 7, 2013 at 1:16AM
The fiasco in Fukushima has been hobbling from cover-ups to partial revelations ever since the three reactors have melted down after the earthquake and tsunami in March 2011. The owner of the power plant, TEPCO – famous for its parsimoniousness with the truth and lackadaisical handling of the fiasco – always pretended that the situation was under control. Until September 13. Only six days after the IOC had made the decision to let Tokyo host the 2020 Summer Olympics, TEPCO admitted that Fukushima was “not under control.”
There’d been a barrage of assurances to the contrary, from Prime Minister Shinzo Abe on down. On September 5, Tsunekazu Takeda, president of the Japanese Olympic Committee and great-grandson of Emperor Meiji, was in Buenos Aires to work the IOC. Afterwards, he told reporters: “Now, Tokyo is very safe.” In fact, “the water, the seafood, and also the radiation are absolutely safe.”
He pointed at the government’s decision to step in and do something – no one yet knows what – about the massive amount of groundwater that was being contaminated on an ongoing basis with radioactive materials and then leaked into the ocean, a fact that inconveniently blew into the open before the IOC decision.
On September 7, at the cusp of the IOC decision, Abe himself promised that the problem was “under control,” that the government would “take a lead in achieving a complete resolution of this problem,” and that in 2020 there would be “absolutely no problem.”
Alas, the problems have been spiraling out of control from the beginning – because nuclear reactors and their fuel, once they go haywire, tend to defy human control.
The enormous amounts of radioactive water that have spilled into the Pacific since the early days of the fiasco have created the now famous “TEPCO fish.” At the time TEPCO, claimed it didn’t know where all this radiation was coming from, and blamed some leaking tanks – seals or sheets that lined the tanks might be defective, it said. Now we know: highly radioactive groundwater has been leaking into the ocean on a massive scale. One of the most radioactive specimens was a greenling caught in early April. It contained 7,400 times the government’s safety limit for radiation in food. To be consumed with moderation. If it weren’t so tragic, TEPCO’s bumbling behavior would be funny.
Then there are the spent-fuel rods that are kept in water-filled pools near the reactors. They contain plutonium, one of the most deadly substances around. The heavily damaged pool of reactor 4 is threatening to collapse. If the 400 tons of fuel rods in it catch fire, it could unleash 14,000 times the radiation of the nuclear bomb that hit Hiroshima. And now TEPCO – the outfit that has become famous for its lackadaisical handling of the fiasco – is trying to remove these fuel rods without blowing them up [read.... A Mistake Now Could Release 14,000 Times More Radiation than Hiroshima].
Throughout, the government backed TEPCO, bailed out its investors, and made no effort to force daylight on its shenanigans; too many bureaucrats and too many lawmakers in the governing LDP – which has run Japan since 1955, except for about four years – are tied to the nuclear industry.
Last month, when the Ministry of Economy, Trade, and Industry (MITI) started accepting proposals from companies to deal with the radioactive groundwater, it issued documentation that was entirely in Japanese, a clear signal that it would stick to its philosophy of keeping out foreign companies – it added English versions only after an international mini-uproar forced it to.
Now a month after the IOC’s decision to let Tokyo host the 2020 Olympics, Abe, with impeccable timing, announced at an international science conference in Kyoto that Japan would indeed need international help in grappling with the current fiasco and in decommissioning the plant, which will take 40 to 50 years, assuming it won’t blow up beforehand.
“My country needs your knowledge and expertise,” he told these scientists. “We are wide open to receive the most advanced knowledge from overseas to contain the problem,” he said, for the first time ever – after having promised before the IOC decision that the problem had already been contained. Because the Olympics are going to be a big boon for Japan Inc. and certain property developers, the truth about the Fukushima fiasco must not be allowed to get in the way.
Even within his party, Abe is feeling the heat (a little). Popular and still influential former Prime Minister Junichiro Koizumi has slammed Abe’s policies that would return the scandal-plagued nuclear industry to its former glory. He has emboldened a small group of rebels in the LDP – “looked upon with mild amusement“ by the rest of the LDP – with his demand for “zero nuclear power.” As prime minister, he’d groomed Abe to become his successor. Now they’re on different sides of the issue, and Koizumi’s words are having an impact. Read.... The End Of Nuclear Energy In Japan?
http://www.testosteronepit.com/home/2013/10/7/after-snatching-olympics-japan-suddenly-admits-fukushima-not.html
Yep, lots of smaller chess games being played out. Gonna be enough tough titty to go around.
I don't know tinner. The Republicans can't stand 'em.
Life is often difficult, choices difficult. I'm always wary of those who say they know the Truth, the Light and the Way. They really don't.
It appears the tea party stomped the hell out of the gold bugs.
I think you nailed it tinner.
Well we had this very same crap in 2011 and now...why not in 2012...............oh I forgot we had an election in 2012. Why didn't they pull this crap then????????????????????????? I guess they were afraid of looking like the idiots they are.
They are Rick Santelli fruitcakes tinner. May be a while yet, but don't worry. It'll take 'em longer to pull their heads out from guess where.
It's a chess game. And a king will topple in the end-game. You can bet on it.
Thanks for bzne; not quite my cup of tea.
BZNE that small one has a few penny gain for its trouble.
Watching "The Edge" with Anthony Hopkins, Alec Baldwin. An intense "grabber."
Still open to a trade, if one can be found. Where's my magnifying glass Watson?
No QE POMO tomorrow, 1 month T-Bill rates at 2008 highs.
Tomorrow, tomorrow, I love you, tomorrow. You're only a day away.
I think we might crash.
Thanks, I needed that!
borusa: If you know and understand your trading style you might want to ignore all the baloney on Wall St and in Washington. I do.
I just look at charts to buy what looks higher and short what looks lower. Put blinders on, or heavily smoked glasses, you might see better.
Lee, I having a very low opinion of just about everything, happen to feel this is just another gambit to manipulate the market and it is all just one big cluster fu$c.
So, that is my opinion, now what do I trade. If I think things will resolve soon it is time to buy. Maybe that is just what they want me to think.
One thing, most of em will be at the country club drinking and laughing.
[Ot] A well known local guy dies. A minister, priest and rabbi stop by to pay their respects. The coffin is open.
The minister walks up and drops a $50 bill in. The priest drops a $100 bill in. The rabbi, not wanting to be outdone, drops a $5,000 check in. Groaaan.
But America has been that one place that they all aspired to, where ordinary people woke up each day and dreamed about coming here. Many countries have slowly turned around and embraced Capitalism.
They have not been very successful, but they are getting better with every passing decade, but America has had a couple of hundred years of reworking the formula, and we haven't always gotton it right.
America has stumbled many times, but in this country we didn't solve it with a revolution, or an overthrow of the government.
Its fine to have differences, we have demonstrated that in this forum on many occasions, but when the political leaders cannot compromise then our society suffers.
We will never agree on everything, but when you cannot compromise then you have a real problem. At the moment you have an element with the Republican Party that will not compromise on anything, and they are holding a gun to Boehner's head, and the rest of the country is suffering. I am willing to compromise on almost anything, but I will never give in, or be told I have to accept their way.
God I am sick of this crap.
There's something like 207 countries in the world. They all have problems.
I agree, things always get resolved, but its just proving to everyone in America, and the rest of the world that America has some serious problems.
These kind of problems are even worse than all of the ones we have just incurred these past five years.
America has become dysfunctional, these past 10 years it has been getting bad, but from now society itself will become even more nervous about everything, especially about the economy.
I know I am cutting back on my spending, not that my spending means that much, but just like we saw with the end 2008 was occurring. When Americans pull back on spending and consuming it can really hurt a lot of businesses.
I mean we can always use up things we have, and just live off of everything we have accumulated, and that's all it takes, a real cutback in the economy. The kind where they offered cash for clunkers, anything to get people to buy a car.
The economy will then stall, and Bernanke who wanted to pull back will now have to really go into the markets with even more money, and then everything begins to get absurd. If people thought the economy was being held up, then they have not seen anything. Then we could collapse, Capitalism is nothing more than the biggest Ponzi scheme the world has ever known, but it works because there are enough imaginative people who keep bringing forth products and services for all to enjoy. But when you get down to the basics, all any of us need is some food, maybe a bed to sleep in, and a good toilet to take it all away.
I am sorry for these comments, I am fed up with trying to trade against a backdrop of politicians who do not do anything really productive, except work their mouths. Some might argue that they are fighting for the greater good, but we all know that they are just playing a game, and that game effects Millions of us each and everyday.
What is the old comment, a recession is when your neighbor loses his job, and a depression is when you lose your job. Speaking of which, my neighbor just secured a job at Amazon, a far cry from his last position, but its always better to have a job that pays you something while you look for a better one.
Excellent Dan. Thanks. I cannot beat Suzy at Scrabble. THAT annoys me.
Hi Lee....
Being that you seem to like playing with words, I want to share an email I just received that I think you will get a kick out of...
Clearly, someone has a surfeit of time on their hands... and is most likely deadly at Scrabble. <LOL>
FUN WITH WORDS!
PRESBYTERIAN:
When you rearrange the letters
= BEST IN PRAYER
ASTRONOMER:
When you rearrange the letters
= MOON STARER
DESPERATION:
When you rearrange the letters
= A ROPE ENDS IT
THE EYES:
When you rearrange the letters
= THEY SEE
GEORGE BUSH:
When you rearrange the letters
= HE BUGS GORE
THE MORSE CODE:
When you rearrange the letters
= HERE COME DOTS
DORMITORY:
When you rearrange the letters
= DIRTY ROOM
SLOT MACHINES:
When you rearrange the letters
= CASH LOST IN ME
ANIMOSITY:
When you rearrange the letters
= IS NO AMITY
ELECTION RESULTS:
When you rearrange the letters
= LIES - LET'S RECOUNT
SNOOZE ALARMS:
When you rearrange the letters
= ALAS! NO MORE Z'S
A DECIMAL POINT
When you rearrange the letters
= I'M A DOT IN PLACE
THE EARTHQUAKES:
When you rearrange the letters
= THAT QUEER SHAKE
ELEVEN PLUS TWO:
When you rearrange the letters
= TWELVE PLUS ONE
MOTHER-IN-LAW:
When you rearrange the letters
= WOMAN HITLER
PRESIDENT BARACK OBAMA
When you rearrange the letters
= An Arab Backed Imposter
I still think this will be resolved, that the U.S. will not default. Also, federal employees will not only get their jobs back eventually but their pay will be retroactive. Neat, for them.
FMCC and FNMA have been quietly moving up some, they still scare the crap out of me, like this is the last hurrah, before they get halted for good by some act of Congress.
I am glad that this shutdown is happening in October, such an easy month to take advantage of by the politicians and the stock market.
This guy Caruso makes sense, he is reasonable, and I think that's what everyone wants, people who can solve a problem, and not come out on TV and whine like Boehner does each day.
Meanwhile the day drags on, and there are probably a lot of people who are nibbling on positions, while others are wondering how much lower prices will go before we get a snap back.
If this goes on much longer, both sides will dig their heels in even more, and we could possibly shut down, and all that will prove to the rest of the world is that America can not be counted on to even resolve its fiscal problems.
Its not that will not be the reserve currency of the world, is that America will lose that trust, the kind that happens when somebody has an extra marital affair in a marriage. You might stay together but its never the same, there is always that element of doubt on everything going forward.
The elections of 2014 are not that far away, and the amount of BS that will be used by both sides will contribute to the uncertainty in the economy, and then the Republicans will own the economy.
Confidence in the economy is still fragile, and if this keeps up much longer it will just demonstrate to everyone that its better to be cautious in your spending ways.
This day is shaping up to be another bad day, so I hope the phones are ringing in Washington DC by the rich and wealthy, the ones who contribute to these politicians reminding them that it will be easy to replace you come next fall.
Unless they are trading 1/2 Million shares or more, all moves can be manipulated, and then you can get stuck holding something, I hate that, but that's my style.
I suspect the Tea Party won't listen to Boehner. The Tea Party, if left alone, will hoist themselves by their own petard.
You're right on KONE, I was wrong.
KONE no real volume on this one, it reminds me of NYNY that I am watching. THis one is the Monticello Racetrack and casino play that I have watched for years.
KWK, RVLT, NBG, and FONR, on the upper list.
But everything is a hold until these stupid politicians agree on something, and that is not happening again today.
Just possible trades for the day.
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