Market Talk – September 21st, 2015
In Asia the Hang Seng could not climb out of the red all day and
eventually closed down -0.75%. As always, the Shanghai had a volatile
session initially opening higher but spent the balance of the day making
headway to close at the days highs of 3157 (+1.91%). The Nikkei was
closed for Respect for the Aged Day. Nikkei futures however were quoted
and initially followed the positive sentiment but that was as good as it
got for the early US session! Eventually, after a mid-day wobble in the
US and an uncertain European mix stocks did manage to rally in the last
few minutes of the US day.
The US Treasury market (especially the Long Bond) lost ground today
as various FED Members spoke publicly. Lacker was quoted defending his
position; Williams, talked of having patience and did not rule-out 2015
and the non-voter Bullard argued against the FED decision of holding
rates unchanged. The long end lost almost 2 full points and at the same
time we saw 2/10 steepen by 3bp to +148bp. The 10yr TY/RX spread closed
the day +149bp.
The US Dollar Index (DXY) saw one of its strongest days in a while.
Closing at 96.04 +1.10%. The Euro was one of the worst performing
currencies of the day closing down around 1% just below 1.1200. Most EM
currencies continued to drift against the US$ also. The RUB, TRY, BRL
and A$ all lost around 0.5%on the day.
2014 Precious Metals Report Update — Now Available
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Believing in Nonsense
QUESTION: How can you refute all the evidence that there is global warming and climate change caused by man?
ANSWER:
First, you should not be reading this blog for you obviously believe in
government propaganda no matter what the field has put out by the
academic community. Global warming is on par with Marxism and thinking
that handing all power to government will prevent recessions.
Even
in economics, I was told to be a good boy and put out studies with
predetermined conclusions. If I complied, I would make millions per year
for every bill passed by government requires
a bogus economic study. Some academics are independent free thinkers,
such as Milton Friedman. Those willing to buck government whom are not
on the gravy train of government subsidies are the minority. The same is
true with this nonsense that man is entirely behind climate change, as
natural cyclical forces, such as the energy output of the sun, are not even considered.
If
you accept the idea that global warming/climate change is caused
entirely by man, please stop reading this blog, for you will also
believe whatever government tells you with their equally bogus economic
statistics. You are not going to make it to the other side.
The entire theory of man causing climate
change is nonsense as if it were something created since the 1920s with
absolutely no study whatsoever on the cyclical nature of the climate
pre-1920. These bogus corrupt “scientists” (using the word very loosely since they sell out to the highest bidder) do not demonstrate ANYTHING historically,
yet you try to put the burden on me to prove a bogus theory is wrong.
You begin with accepting whatever they say is true and then demand I
prove a negative is negative. These bought and paid for “scientists” have not provided a documented study for thousands of years and they keep manipulating the data to try to pretend they are right when ALL independent
research demonstrates they are dead wrong. The North Pole moves, yet
their stations are fixed, and they declare it is getting warmer because
the pole moved further away. The North Pole is moving to Russia. There is even evidence that the poles flip on Earth just as they do on the sun. Sun poles flip north to south about every 11 years, but on Earth, the pole flips are measure in hundreds of thousands of years, so we are overdue.
The
entire theory of greenhouse gases is based upon an assumption that
temperature throughout the troposphere would be constant if not for
human activity. If they were financial analysts, they would conclude
after a three-year bull market that stocks only go up, or like the gold
promoters who claim every rally is real and declines are manipulations
for they can see only one side. The corrupt pretend scientists assume
that carbon dioxide and methane raise the surface temperature of the
planet because they assume that temperature would be the same at all
levels in the troposphere if there were no greenhouse gases. Of course, they
have no data to prove that such a perfect state of equal temperatures
ever existed. They are so off the planet, demonstrating that they
completely fail to comprehend how a dynamic system works.
So
sorry. The burden is yours, not mine. Show me a study that proves these
theories for thousands of years. Then and only then is it even worth
discussing.
These
people flew a plane over the South Pole and said, “OMG, there is a hole
in the ozone so we must have caused it!” They are clueless for saying
that there was never a hole before. It is just amazing. They have put
forth NOTHING to
prove their theory before 1900 and attribute everything to human
activity. Sure, we do not want to be in a city where you cannot breathe.
London used to be that way in the 1980s, but it has been cleaned up as buses where the main culprit.
Now
that cars are more efficient and electric cars are starting to take
over, states are looking to switch to taxing people per mile driven
because revenue has declined from gasoline. Even government realizes the
peak in fossil fuel is past us
and contributes to why oil has entered a new phase. All the data from
satellites proves that temperatures have been declining for almost the past two decades, but academics get checks from government for
studies. The last economist who told a government they were wrong after
taking the head job to draft the business plan was Kondratieff. If you
do not put out studies that say what government wants to hear, you will
not get paid. That is the simple fact, and it is the same in every
field.
France’s Credit Rating Cut – Another Country Downgraded
Video Player
First Japan was downgraded and now France. One by one we are starting to see this Sovereign Debt Crisis unfold in slow motion. Governments have not given up hope of losing power or filling their pockets with other people’s money as they expand the hunt for money to fund themselves. But rising taxation lowers economic growth and even considering the possibility that their management is destroying our culture and civilization is something far from their agenda.
It is our own fault. They have no qualifications whatsoever to lead a country. It is amazing how we expect some qualification in every field BESIDES politics.
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