Jim’s Mailbox

Posted at 10:25 AM (CST) by & filed under Jim's Mailbox.

This Amazon chart is broken, IMPOV shows the end of the bull market.

GG

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Jim/Bill,

China Blinks First In LNG Face-Off With US

I beg to differ.

It’s not called “Blinking”.

It’s called “Not cutting off your nose to spite your face”.

As a massive importer of energy to support their huge growth, it behooves them to pick and choose sanctions.

Only makes sense.

That very action defies the article’s supposition that China’s economy is tanking.

“The move is intended to provide easier lending and more liquidity in China’s economy as the impact of U.S. sanctions start to hit manufacturing and the overall economy.”

Either your economy is slowing and therefore energy isn’t that critical….

or your economy is growing, and you need the damn stuff.

This appears to be nothing more than a propaganda piece to support our actions.

Appears to me that this will be a prolonged trade war.

CIGA Wolfgang Rech

China Blinks First In LNG Face-Off With US
October 10, 2018

Authored by Tim Daiss via Oilprice.com,

Amid the ongoing trade war between the U.S. and China, it seems that Beijing may be getting the short end of the stick already.

On Sunday, the People’s Bank of China said it was cutting the reserve requirement ratio for most banks by 100 basis points, which will result in an injection of 750 billion yuan ($109.2 billion) in cash into China’s banking system. The move is intended to provide easier lending and more liquidity in China’s economy as the impact of U.S. sanctions start to hit manufacturing and the overall economy.

Not business as usual

Several analysts are claiming that the ratio move shows China is getting nervous about a protracted trade war with the U.S. However, if China is getting the jitters, the official tone coming out of Beijing is more stiff lipped defiance. The government claims in a 71-page paper that it’s not afraid of a trade war and that its economy is “heavily resilient.”

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Has anyone else noticed that there are no democratic blah blah yesterday? Monday is normally the attack day created in order to cause an all week melt down but alas…A nothingburger…

JB

 

This is a must listen about how the Democrats fight with wrap-up smears! This is the way they fight e.g. Ford/Kavanaugh!

GG

Nancy Pelosi Reveals Familiar Smear Tactic
October 10, 2018

House Minority Leader Nancy Pelosi explained in a 2017 press conference a common “wrap-up” smear tactic she claimed Republicans have used in the past.

However, the method Pelosi described seems to resemble what Democrats used over Justice Brett Kavanaugh’s Senate confirmation hearings.

“You smear somebody with falsehoods and all the rest, and then you merchandise it,” Pelosi said in 2017, in reference to Republicans.

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Could it be this was what it was all about?

Cheers,

CIGA Robert

Brett Kavanaugh And The Quiet Lawsuit Exposing $Millions In Clinton, DNC Money Laundering
October 6, 2018

DNC Motive for Destruction: Newly-minted Supreme Court Justice Brett Kavanaugh is just one court ruling and two appeals away from casting a deciding vote in a federal lawsuit alleging massive money laundering by the DNC, Hillary for America, and the Hillary Victory Fund.

Call it three degrees of separation. And Kevin Bacon nowhere in sight. Reverse the initials from KB to BK and Brett Kavanaugh can start a new game with intrigue that might carry a federal prison sentence.

Soon and very soon, Supreme Court Justice Brett Kavanaugh will be smack dab in the midst of a roiling but quietly building Federal lawsuit against the Federal Election Commission involving Hillary Clinton and the Clinton Victory Fund that alleges a very fancy paper shuffle and the laundering of hundreds of millions of dollars in individual campaign contributions too large to be legal, but easily broken down and concealed in legal, bite-sized chunks.

In April of this year, the group, Committee to Defend the President filed suit against the Federal Election Commission alleging the FEC had purposefully ignored campaign finance violations of at least $84-million stemming from hundreds of transactions between state Democrat party committees, the DNC and the political action committee, Hillary Victory Fund.

Among other things, the suit alleges that Hillary’s 2016 Presidential Campaign used money transfers between 40 state Democrat party committees and the Hillary Victory Fund to break down too-large-to be-legal campaign donations into smaller contributions that were then sent back to the Hillary Victory Fund in legal amounts.

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Courtesy of Dave.

Jim

‘Great Depression’ ahead? IMF sounds dire warning
October 9, 2018

Is another “Great Depression” on the horizon? It would be easier to dismiss these words from Nouriel Roubini, Marc Faber or other doom-and-gloom prognosticators. Coming from Christine Lagarde’s team, though, they take on a new dimension of scary.

The International Monetary Fund head isn’t known for breathlessness on the world stage. And yet the IMF sounded downright alarmist in its latest Global Financial Stability report, stating that “large challenges loom for the global economy to prevent a second Great Depression.”

Even some market bears were taken aback. “Why,” asks Michael Snyder of The Economic Collapse Blog would the IMF use this phrase “in a report that they know the entire world will read?”

Perhaps because, unfortunately, the findings of other referees of global risks – including the Bank for International Settlements – hint at similar dislocations.

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Courtesy of Dave.

Jim

Don’t Believe the Media Hype on Bank Stocks and Rising Interest Rates
October 9, 2018

The 10-year U.S. Treasury note touched a 7-year high in yield early this morning at 3.25 percent before falling back to 3.22 percent in mid-morning trading. As rates have risen over the past year, we’ve witnessed a growing chorus of business writers repeating the following mantra, or words to this effect: bank stocks will do well, even in a rising interest rate environment, because the spread will widen on what they pay to their depositors versus the rate that they earn on loans.

When it comes to five of the mega Wall Street banks – JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley – you can throw that advice out the window. That’s because these are not so much banks as they are black holes of interconnected and concentrated interest-rate risk with trillions of dollars of derivatives sitting on their balance sheets. And since any blowup among these behemoths will taint the entire banking sector, this advice is also faulty for the entire sector.

We can already hear the naysayers countering that these are smart banks that know how to hedge their interest-rate risk and derivatives risk. Not only do we have the 10-year anniversary of the greatest Wall Street bank crash since the Great Depression to remind us that this isn’t so, but we also have basic math to tell us otherwise.

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Jim/Bill,

Who’s minding the store?

Perhaps we’ll get a Robot for President of Amazon one day.

But for now, we’re getting robotic workers.

Ol’ Henry had it right…..but there was a rhyme and reason to his madness.

‘In 1914, Henry Ford made a big announcement that shocked the country.

That morning, Ford would begin paying his employees $5.00 a day, over twice the average wage for automakers in 1914.

“We increased the buying power of our own people, and they increased the buying power of other people, and so on and on,” Ford wrote. “It is this thought of enlarging buying power by paying high wages and selling at low prices that is behind the prosperity of this country.”

Ford believed he was buying higher quality work from all his employees. “If the floor sweeper’s heart is in his job he can save us five dollars a day by picking up small tools instead of sweeping them out.”

https://www.saturdayeveningpost.com/2014/01/ford-doubles-minimum-wage/

If you pay people more, they will be more able to purchase your products AND you’ll get the ancillary benefit of worker loyalty and increased productivity….which inherently pays for the increase in wages.

But alas, Amazon is not as intellectually astute as Henry was.  Their arm is being twisted by inflationary pressures

(thank you Congress for your deficit binges).

Amazon MUST raise wages because no one will work for “coolie” wages anymore. (pardon my politically incorrect choice of words.  No offense is meant to the Asian workforce of the nineteenth century that built our railway system under oppression.)

“Thanks to low unemployment, Amazon has found it increasingly difficult to attract workers – hence the wage increases. All of this means a more expensive workforce, which is a major reason for the push to replace humans with robots.

And ironically, ANOTHER Ford understands quandary: 

According to futurist and author Martin Ford, Amazon will have replaced most of its human pickers with autonomous robots within five years.”  The productivity gains made in automation won’t matter if there aren’t enough employeed people to spend money on consumer goods. “We have to solve the problem of getting rid of people and replacing them with machines.” 

CIGA Wolfgang Rech

Disgruntled Amazon Workers About To Be Replaced By Fleet Of Robots
October 11, 2018

Amazon, which announced a $15 minimum wage bump for 250,000 employees last week, is developing a fleet of “picking” robots to staff its warehouses, known as fulfillment centers, according to The Information, citing three people with knowledge of the work.

Robot picker designed by Kindred Systems

Warehouse pickers grab items from shelves and put them into bins before they are prepped and shipped. The new robots will be able to visually identify items as they speed down a conveyor belt, then pick them up with a compressed-air vacuum gripper before moving them onto a table or shelf – said an employee who witnessed the robot in action.

That said, our future robot overlords aren’t quite ready for prime time.

For its part, Amazon says picking robots aren’t yet ready to handle the huge variety of items in Amazon fulfillment centers, with their different shapes, weights and sizes. In an emailed statement, Brad Porter, vice president and distinguished engineer at Amazon Robotics, said human pickers are also much better at spotting problems such as a leaking jug of laundry detergent before it is shipped to a customer. 

“We regularly look at our operations and evaluate how we can bring technology to create new solutions for employees,” said Mr. Porter. “When it comes to using robotic manipulation for item picking, while we’re encouraged by the work in the research community, the simple fact is the current state of the art is not capable of handling the diversity of Amazon’s product selection.” -The Information

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Courtesy of JB.

Jim

Veritas Undercover: Tennessee Democrat Lied About Kavanaugh Support To Pander For Votes
October 11, 2018

Staffers for Tennessee Democratic candidate Phil Bredsen admitted to undercover investigators that the supposedly moderate politician was lying to his base about supporting then-Supreme Court nominee Brett Kavanaugh in order to pander to his base.

The admissions were revealed in a 10 minute video released Wednesday night by James O’Keefe of Project Veritas.

In the video, Bredsen campaign field organizer Will Stewart calls residents of Tennessee “ignorant” – claiming that his boss only announced support for Kavanaugh to earn political points among voters.

. . .

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Revealing more and more evidence…I love Judicial Watch!

Judicial Watch Uncovers More Classified Material on Hillary Clinton’s Unsecure Email System
October 10, 2018

(Washington, DC) — Judicial Watch announced today that it received 288 pages of newly uncovered emails of former Secretary of State Hillary Clinton that were transmitted over her unsecure, non-“state.gov” email system, three of which contain classified information.

Judicial Watch obtained the documents in response to a Freedom of Information Act (FOIA) lawsuit filed on May 6, 2015, after the State Department failed to respond to a March 4, 2015, FOIA request (Judicial Watch v. U.S. Department of State (No. 1:15-cv-00687)) seeking:

All emails sent or received by former Secretary of State Hillary Rodham Clinton in her official capacity as Secretary of State, as well as all emails by other State Department employees to Secretary Clinton regarding her non-“state.gov” email address.

The documents are part of an accelerated schedule of production ordered by U.S. District Court Judge James E. Boasberg, which required the State Department to complete processing by September 28, 2018, the remaining documents of the 72,000 pages recovered by the FBI in its investigation into Hillary Clinton’s illicit email server. These new classified and other emails appear to be among those that Clinton had attempted to delete or had otherwise failed to disclose.

Classified information was sent in a January 26, 2010, email from Jake Sullivan, Secretary Clinton’s top foreign policy adviser, to Clinton and her top aide Huma Abedin explaining that he has “pasted” (his word) from another document a written summary sent to him from former British Prime Minister Tony Blair. Blair’s conversations are with British Prime Minister Gordon Brown and Irish leaders regarding the sensitive Northern Ireland peace process.

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And they called us crazy for stocking up…

JB

Tom Fitton on NRA TV: Obama ATF Tried to Do ‘End-Run’ Around 2nd Amendment by Banning Ammo
October 11, 2018

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The losers inciting riotous actions should be held accountable. Courtesy of JB.

Jim