News You Can Trust
– Monday, August 12, 2019 – 80˚F / 27˚C & cloudy @ 3:30 pm near Ithaca, New York –
– “Economic Warfare .101 – Why do people get crazy when workers ask for a living wage when CEOs get $10,000.00 (or more) an hour?” – —djo—
— Now, if our buddy, “HJdA”, could get the design elements of the above blog to work here – I’d vote to double his salary at our next bored meeting 😉 – return multiply by zero error 😉
—djo—
Wednesday, February 20th, 2019 – +27˚F / -3˚C & cloudy in the Ithaca, New York area @ 1:30 pm Eastern Time –
— It’s been a while since anyone’s posted anything new here – and that isn’t because there is nothing newsworthy going on. Real Life has a way of interfering with our blogging / reporting aspirations.
–
The CRTC says an inquiry has confirmed allegations Canada’s telecommunications industry used unacceptable sales practices that misled consumers and harmed vulnerable members of the public.
The commission says the misleading and aggressive practices exist in all types of sales channels, including in stores, online, over the telephone and at homes when companies conduct door-to-door sales campaigns.
But the report doesn’t identify which companies or areas of the country have had the worst track record.
The CRTC compiled the report after five days of testimony at public hearings in October and months of information gathering, including more than 1,000 comments from individual Canadians.
The regulator looked into the issue after CBC’s reporting into sales tactics at some of Canada’s biggest telecom companies.
The CRTC says it plans to follow up its report with measures to address the problems identified through the inquiry, but most of them will require additional regulatory proceedings.
The Canadian Radio-television and Telecommunications Commission is a semi-autonomous federal agency responsible for upholding the Telecommunications Act and the Broadcasting Act, which are both under review by the federal government.
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America’s auto industry is bracing for a potential escalation in U.S. President Donald Trump’s tariff war with the world, one that could weaken the global auto industry and economy, inflate car prices and trigger a backlash in Congress.
Late Sunday, the Commerce Department sent the White House a report on the results of an investigation Trump had ordered of whether imported vehicles and parts pose a threat to U.S. national security. Commerce hasn’t made its recommendations public, and the White House has so far declined to comment. If Commerce did find that auto imports imperil national security, Trump would have 90 days to decide whether to impose those import taxes.
Trump has repeatedly invoked his duty as president to safeguard national security in justifying previous rounds of tariffs. An obscure provision in trade law authorizes a president to impose unlimited tariffs on particular imports if his Commerce Department concludes that those imports threaten America’s national security.
Whatever Commerce has concluded in this case, Trump has made clear his enthusiasm for tariffs in general and for auto tariffs in particular. Some analysts say they think Commerce has likely endorsed the tariffs, not least because the president has conveyed his preference for them.
Among Commerce’s recommendations “will certainly be tariffs because, hey, he’s a tariff man,” said William Reinsch, a former U.S. trade official and now a senior adviser at the Center for Strategic and International Studies, referring to a nickname that Trump gave himself.
Industry officials took part in a conference call Tuesday to discuss the possible steps Trump could take. They include tariffs of up to 25 per cent on imported parts only; on assembled vehicles only; or on both vehicles and parts — including those from Mexico and Canada. The last option would be an especially unusual one given that the United States, Mexico and Canada reached a new North American trade deal late last year, and the legislatures of all
three nations must still ratify it.
In public hearings last year, the idea of imposing import taxes on autos drew almost no support. Even U.S. automakers, which ostensibly would benefit from a tax on their foreign competitors, opposed the potential tariffs. Among other concerns, the automakers worry about retaliatory tariffs that the affected nations would impose on U.S. vehicles. Many U.S. automakers also depend on imported parts that could be subject to Trump’s tariffs and could become more expensive.
A similar Commerce investigation last year resulted in the Trump administration imposing taxes on imported steel and aluminum in the name of national security. The administration has adopted an extraordinarily broad view of national security to include just about anything that might affect the economy.
In addition to steel and aluminum, Trump has imposed tariffs on dishwashers, solar panels and hundreds of Chinese products. Targeting autos would further raise the stakes. The United States imported $340 billion in cars, trucks and auto parts in 2017.
If the administration imposed 25 per cent tariffs on imported parts and vehicles including those from Canada and Mexico, the price of imported vehicles would jump more than 17 per cent, or an average of around $5,000 each, according to estimates by IHS Markit. Even the prices of vehicles made in the U.S. would rise by about 5 per cent, or $1,800, because all of them use some imported parts.
Luxury brands would absorb the sharpest increase: $5,800 on average, IHS concluded. Mass-market vehicle prices would rise an average of $3,300.
If the tariffs were fully assessed, IHS predicts that price increases would cause U.S. auto sales to fall by an average of 1.8 million vehicles a year through 2026. Auto industry officials say that if sales fall, there almost certainly will be U.S. layoffs. Dealers who sell German and some Japanese brands would be hurt the most by the tariffs.
“The economic fallout would be significant, with auto tariffs hurting the global economy by distorting prices and creating inefficiencies, and the impact would reverberate across global supply chains,” Moody’s Investors Service said in a report. “The already weakening pace of global expansion would magnify global growth pressures, causing a broader hit to business and consumer confidence amid tightening financial conditions.”
Congress could resist the auto tariffs. Sens. Pat Toomey, R-Penn., and Mark Warner, D-Va., have introduced legislation to reassert congressional control over trade. Their bill would give Congress 60 days to approve any tariffs imposed on national security grounds. It would also shift responsibility for such investigations away from Commerce to the Pentagon.
Some analysts say they suspect that Trump intends to use the tariffs as leverage to pressure Japan and Europe to limit their auto exports to the United States and to prod Japanese and European automakers to build more vehicles at their U.S. plants.
Reinsch notes that Trump’s top trade negotiator, Robert Lighthizer, worked in the Reagan administration, which coerced Japan into accepting “voluntary” limits on its auto exports.
“This is the way Lighthizer thinks,” Reinsch said.
Even if the tariff threat resulted in negotiations, Europe and Japan would have demands of their own. A likely one: Compelling the U.S. to drop its longstanding 25 per cent tax on imported light trucks.
Trump is “pursuing something that, as near as I can tell, the domestic (auto) industry doesn’t want,” Reinsch said. “Once he pursues it, he is going to be under pressure to give up the one thing the auto industry really does want” — the U.S. tariff on imported light trucks.
For now, many in the industry are upset that the Commerce Department report remains secret, feeding uncertainty.
“The 137,000 people who work for Toyota across America deserve to know whether they are considered a national security threat,” Toyota said in a statement Tuesday. “And the American consumer needs to know whether the cost of every vehicle sold in the U.S. may increase.”
The American International Automobile Dealers Association this week called the Commerce Department’s investigation “bogus.”
“Now, dealerships must continue to operate under a cloud of uncertainty, not knowing if at any moment their products will be slapped with 25 per cent tariffs, raising vehicle and repair costs by thousands of dollars and slashing sales,” the association’s CEO, Cody Lusk, said in a statement.
Monday, 01 February, 2016 -( 35˚F / +2˚C & ‘Partly Cloudy’ near Ithaca at 6:17 pm // 43˚F /+6˚C & clear in the dark in Atlantic Canada @ 7:17 pm // +1˚F / -17˚C & ‘Partly Cloudy in North Pole, Alaska @ 2:17 pm ) –
— I thought I’d be bombarded with nothing but Political messages when I checked into twitter. There does seem to be a lot of Bernie vs Hillary stuff going on. And a lot of ‘Everybody Bashing’ by Trump’s forces.
— How old do you have to be to remember when typing ‘rotfl’ would earn you a bunch of ‘lol’s in IM chat rooms? Think that real cool cat might be playing “Smoke on the Water?” or “Stairway to Heaven” ?
— I should add a poll here – ya think?
— I scrolled past dozens of cute cat photos and cute dog photos and cute ‘what the heck is that?’ photos, thinkin’ maybe I shouldn’t send anybody into diabetic shock from posting terribly sweet nonsense here. But I couldn’t resist the two above photos-
— I’m almost giddy thinking about the brain power I’m not wasting getting all upset about what could happen in Iowa this evening when the results come rolling in.
— Okay, so something’s happening. The Earth is receiving a Blessing from Above – Or maybe I’m appreciating the heck out of my daughter’s visit to catch me up on what she’s planning for her wedding?
— It’s been fun — Hang in there, I might have a lot to gripe about tomorrow –
——— djo ———
Wednesday, 27 January, 2016 -( 29˚F / -2˚C & snowing in Ithaca @ 5:50 pm )-
— In the 1990’s a Connecticut Psychiatrist, named Dr. John Battista, did a lot of homework and realized that if the State of Connecticut converted itself to a single payer health care system the resulting savings to taxpayers would amount to Billions of good old US Dollars. He was asked by members of the Connecticut Legislature to write up his findings and did so, listing all the facts and figures that he’d researched to come up with his findings. The Connecticut Legislators who asked him for his help then brought his paper work to a marathon session and asked him to be available to testify during negotiations. The sponsoring Representatives came to him during any break they got and assured him they were close and getting closer. At something like 3 am, the disheartened Representatives came to him, glumly thanked him for his efforts and explained that Insurance Company Lobbyists (And Connecticut is and has been the headquarters for many Insurance Companies) came in, hit the Legislators hard with promises of campaign contributions if they shot down the attempt to go with the single payer system. Dr. Battista was so moved by this experience that he joined the Connecticut Green Party and changed the scope of a radio call-in talk show into an Activists forum.
— So, Nancy Pelosi is full of you-know-what –
— There would be no United States of America without the help and generosity of Native Americans. I’m not 1,000 percent positive, but it’s a safe bet that Canada would not be Canada if it wasn’t for the aid given by First Nations People to settlers, and resource exploiters, of both French and English origin.
— Silly me, I checked email and followed a couple links and missed my nap time.
——— djo ———
This is from Jim W. in New Brunswick :
= = = = =
Wednesday, January 27th, 2016 -( +5˚C / +41˚F — Grey skies & damp in Atlantic Canada @ 8:00 am )-
— The oil and gas industries received $34 Billion dollars per year in taxpayer-funded subsidies? Mid-priced Electric cars cost about $31,000.00 Canadian Dollars. They figure there are 9 million families in Canada?
— The Province of New Brunswick, crying poverty, has told the people of New Brunswick that their ‘duly elected government’ is trying to decide how to institute tolls on New Brunswick’s highways to raise money because they’re not bringing in enough tax revenues? ***Why don’t they raise taxes on the corporations that have been getting away with downsizing, knocking hardworking people from their ability to pay those taxes, which may be fraudulently reported to the media which, in turn, ‘report’ those fraudulent figures to the news-consuming public.
— Walter Burien of cafr1.com [ (CAFR+the number 1) dot com ] is an investment counselor who has been trying to explain that virtually every level of Federal, State or Provincial, County, and municipal government has more income streams than they admit to, that tax revenues amount to one third of their actual income, and if they’re not receiving two thirds of their income from non-tax revenues, well then, shame on them for being incredibly stupid – Mr. Burien has been trying to explain this for years, has been politely screaming at seemingly sleeping citizens who, apparently, would much rather plug their ears than listen to him.
— The proposed Eastern Pipeline upgrade would bring oil from Alberta to Saint John, New Brunswick, not to be refined here, an operation which would create Canadian jobs, but to be loaded on ships and carried off to refineries in the USA, where US citizens would have job security that is lacking in Canada?
— Meanwhile, Facking has been shown to create earthquakes. Earthquakes endanger pipelines. Oil pipelines that split open poison groundwater. Poisoned groundwater forces humans to pay for water that isn’t poisoned, and it kills animals. Animals that die from poisoned water include farm animals that people eat, and pets, and wild animals, like the Beluga whales in the Saint Lawrence River/Seaway.
— When the Mayor of Montreal cried out against the pipeline, he was first accused of being selfish, then accused of trying to divide Canadians along East Versus West, or even Anglophones versus Francophones lines. Then, after a talk with Justin Trudeau, the Mayor of Montreal clarified that his stance against the pipeline was not against economic opportunities, but against the shoddy inability of watchdogs to insure that the pipelines would be properly built, properly inspected, and properly maintained. Canadian Prime Minister, Justin Trudeau, for his part, has announced that he is not a cheerleader for this pipeline project, or any other pipeline project. First Nations/Native Americans – the people whose country was stolen out from under them by Europeans who claimed they were saving the aboriginal citizens of the ‘Americas’ from ignorance and poverty, have been fighting pipelines both in the east and in the west. They have also been fighting against the practice of ‘Fracking’, which threatens their drinking water and the stability of their lands.
— Canadian ‘Law’ sees mineral rights as belonging to the ‘Crown’, land owners have been shocked and dismayed to discover that their property has been invaded by somebody who dug a hole, searching for possible minerals or other exploitable resources, & left the ‘exploratory’ holes open and dangerous to children and other living things. And then the property owners discovered that (1) they are powerless to stop this sort of thing, (2) if anything valuable was discovered on or under their property, they would not benefit from that discovery, or its exploitation or development – at all, and (3) they just might have to pay the cost of filling any dangerous holes left in their own property.
— First Nations people have been fighting for centuries to keep their land and mineral rights, citing the fact that they never did sign away their mineral rights. Miners want to be able to walk onto Tribal lands and poison and ruin the area, grab whatever minerals and ores they find there, cart the valuable substances away and gesture obscenely as they ‘laugh all the way to the bank’ and capitalize on what they’ve stolen.
— Corporations have also been getting away with not paying their fair share of taxes in the United Kingdom. Google, which ‘mines’ information from the browsers of anybody connecting to their ‘services’ has recently been slapped on the wrist and asked to pay a pittance to cover back taxes while taxpayers in the UK have been discovering that they are being charged unbelievably ridiculous new taxes that sound more like a Monty Python routine than anything like a real tax that any government in the Western ‘Free World’ would have the gall to suggest.
— & On the Ethics front: In France, the Justice Minister resigned her post in protest over the new French law that strips citizenship from those accused of terrorism. So human beings with their humanity and moral values intact actually still do exist as of today, the 27th day of January/janvier, 2016. Of course, the newscast that announced this brave and ethical act went on to tell us that the Justice Minister who resigned had already been replaced by a schnarr ice-hole of an Elitist shill who was firmly in favour of advancing himself without regard for ethical behaviour or the health and well-being of anybody else.
— And so, sadly, tragically, that is a snapshot of this morning’s schnarr from Atlantic Canada.
— Hopelessly remaining optimistic –,
~~~~~ Jim
Tuesday, January 19, 2016 -( 14˚F / -10˚C & Snowing in Ithaca @ 9:30 am // +9˚F / -13˚C w/Hazy Sunshine North of Fredericton, NB @ 10:30 am // +7˚F / -14˚C & Overcast in North Pole Alaska @ 5:30 am )-
— Um, So lately, along with Rachel’s wedding plans occupying much more of my time than I expected, and me thinking that copying and pasting News Items from CBC News on-line was a slightly interesting waste of time – my friend and c0-blogger, Jim W. recently told me he wanted to try to put as much positive information as possible out there in internet land and avoid the negatives as much as he could.
— So this morning it appears he’s blogged an update that I will copy and paste here:
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Written by JimTuesday, January 19th, 2016 -( -13˚C / +9˚F With Wind Chill around -26˚C/ -16˚F — Greyish and cold in Atlantic Canada @ 7:16 am )-
— There are weather warnings out there this morning. Wind Chills below -20˚C — which would translate to -4˚F — But – The latest possible Nor’Easter that is worrying meteorologists in New England and Nova Scotia will probably remain far enough south so Most of New Brunswick might get a repeat of Last Sunday’s storm here. — Nova Scotia got 40 centimeters / 16 inches of snow while we only got maybe two inches / 5 cm?
— One candidate has declared himself in the running for Fredericton’s Mayoral position. Apparently the sitting mayor has not clearly announced whether he wants to be the Mayor for another term or run for a seat on the City Council. One thing the mayor said about labour negotiations between the bus company and its drivers might either bite him or win him points with voters (or both – earn him some votes from some voters and earn his oppositions candidates voters from pro union voters. When bus drivers said they wanted their pay to be equal with what drivers in Moncton get, the current mayor said, “If they want to get paid what Moncton drivers are paid – they should move to Moncton.”
— Local / municipal, county and Provincial governments all around Canada ( and the rest of the ‘Western world’ for that matter ) have been crying poverty and claiming they have to cut back on programs and cut down on the number of people they employ because they just don’t have the money. I have been asking reporters and other newsy types to investigate the claims of CAFR1.com for a couple of years now – since I heard Walter Burien, an investment counselor, explain that virtually every level of government in the USA and almost all of the USA’s allies follow a model developed by the Rockefellers, in which all levels of government have several income streams but only let the public know about what they get from taxes. Mr Burien claims that all levels of government in the west here could stop collecting taxes and provide more and better services than they do now. And the message seems to be, “If these governments are not following this model, well then shame on them.” If this is true, and I do not have the resources or expertise to properly investigate this, myself, then all levels of governments here in the ‘free world’ are engaged in a monumental fraud. And, if this is true, it lends a lot of credibility to the claims of many Conspiracy Researchers that Elitists, who are trying their darndest to manipulate and control everybody and everything, are using “Need to Know” information with-holding as one of their ‘tools’ to deceive the rest of us, the 99% of us that the 1%-ers want to control. Their other tactics include using Intelligence Gathering Operations like the C.I.A. and MI-6 to recruit, train and secretly control ‘Terrorists’ like Al-Qaeda and ISIS – in order to maintain an atmosphere of fear and anxiety because fearful and anxious populations can be convinced to surrender their rights and freedoms in favor of promises of safety and security. The fact that governments use Anti-Terrorist legislation to turn their guns on their own citizens does not become immediately apparent. Police disguised as rioters have been ‘outed’ in areas where G-20 meetings supposedly drew a lot of civil unrest and lots of peaceful demonstrators were arrested and later had charges against them dropped. This happened in Toronto, Ontario, Canada a couple years ago. And it’s happened in too many other cities around the world.
— In other, possibly more hopeful news, Anti-Terrorist Laws in the UK have been found to violate fundamental rights by failing to protect the rights of journalists and labeling journalists who criticize their governments as terrorists. I haven’t seen anything in the mainstream media about this here in Atlantic Canada, but the “Tweet-Us-Sphere” has been buzzing.
— Another thing I’d like to research today is a job opportunity here :
— Okay, I’ve probably done more than enough damage here today – Think Positive – We are evolving, The bad guys will kill each other off in their insane power struggles and leave the rest of us free to discover what the “New Heaven – New Earth” might be like.
~~~~~ Jim
CAFR1.com, Computer Schnarr, Conspiracies,Corporate Fascism, Distraction, Hopeful Optimism, Life should be more fun, Life should be more relaxed, Looking Ahead, News, Newsworthy?, Personal Insight, Philosophy,Planned Obsolescence is a Crime in France –, Politix, Real Life Adventures, Uncategorized, Weird Weather, Winter
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— End Copy & Paste —
— Beyond that – I’ve added the spiffiest Mac Mini I could find to my collection of ‘nearly new’ computer junk, and now face the needless frustration of “Google Chrome” informing me that the mac mini’s hardware is no longer supported by Google Chrome [ implying that I should run out and spend lots of money – that would be better used giving my daughter a wedding she deserves – on making sure I have the latest and greatest innovations in NSA friendly spy tech inside my work-horse computers ] – I fire up Chrome to make sure that anything I post using Firefox does not look insanely formatted in a Chrome browser.
— & While Jim keeps telling me in email that he doesn’t think this winter will be as bad as the last two were in New Brunswick, my sweetie up there isn’t quite as sure as he is, but she has her fingers crossed. & “Hey – Universe – If you hand me a winning lottery ticket, how crazy would it be to try to maintain two residences? one in New York State and the other In New Brunswick?” – Rachel & her husband to be are suggesting it might make more sense to migrate to Maine if I’m serious about living in two countries at once? -shrug- That whole idea might be ridiculous – But —
— have a nice day 🙂 –,
———dj0———
Saturday, November 21, 2015 -( 3˚C / 37˚F @ 6:00 pm in dark, warmer than usual Atlantic Canada )-
Above is a screen shot from —> cleanproteinfarmfoods.ca [ <— link ] We’re hoping their stuff is 100% free of anything genetically modified. & we’ll let you know about that after Tuesday evening.
Meanwhile:
— Anybody want a soapbox? — I’m finished with it for today.
~~~~~ Jim
Thursday, October 15th, 2015 -( 61˚F / 16˚C w/Scattered Clouds in the Ithaca, NY area @ 3:00 pm Eastern Time // 54˚F / 12˚C & Clear near Fredericton, New Brunswick @ 4:00 pm Atlantic Time // 24˚F / -5˚C in North Pole, Alaska, where it is 11:00 am & ‘Partly Cloudy’ )-
Is this an example of Canadian Tax Dollars at work? I think we would at least hope the Conservative Party Of Canada is paying for this out of their own pockets.
& Maybe I should be happy to see that they’re wasting their money on an ‘American’ / US Citizen who’s in love with a Canadian and checking out her facebook page.
I didn’t get the ad I clicked on before, the divisive, Xenophobic ad that shows a side view of Stephen Harper, the current Prime Minister and says, “It is offensive that someone would hide their identity at the very moment they are… [committing to join the Canadian family.” -Prime Minister Stephen Harper, February 12, 2015 <— Everything after the ellipses was on the idiotic “I AGREE!” Page. ]
I clicked “Disagree” and twiddled my thumbs while facebook brought me to a page where it finished the statement and wanted me to fill out my name and address and email address and let the conservative party use me as an example of the many quadrillions of Canadians who hate the idea that anybody from an Arab culture might want to wear a Niqab while taking the Oath of Citizenship. It also wanted me to click on “Donate Now” and help the evil, Xenophobic, manipulating, fascist, micromanaging, ICE-HOLE [Stephen Harper] get his butt re-elected.
This is coming one day after the media ran this article —> “Finance Minister Joe Oliver charged taxpayers to upgrade seat on flights” [ October 14, 9:27 PM ET ]
And this [ the following ] article went over the Prime Minister’s latest b.s. shenanigans [ Having Party shills exposing their children to cameras and other party shills while dropping piles of Canadian money a little bit at a time while a cash register ‘comically’ goes ‘Ka-Ching” with each drop – while the smug Prime Minister grins with a leer, preaching to his choir, firmly believing that ‘anybody with half a brain/ half a lick of sense’ is solidly behind him and firmly believes everything he believes they should believe – ] with a magnifying glass and ran this slightly lengthy article online at http://www.cbc.ca/news/politics/ :
Analysis
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Link to the “Spin Cycle” article :
http://www.cbc.ca/news/politics/canada-election-2015-cost-of-liberal-promises-analysis-1.3269093
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I’m half tempted to copy and paste the entire article here, but I’m not sure what the copyright issues might be. I’m probably stretching things as it is –
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Also — I heard on NPR radio, WHYY’s “Fresh Air” with Terry Gross – that there is a book entitled “Canada After Harper” with a Forward by Ralph Nader :
And I wondered why I didn’t hear anything about this book, which was published/released on August 15th, before this.
&&& If that isn’t enough, one idiot running for office under the banner of Stephen Harper’s Conservative Party announced in a real debate that Liberal Party Leader wants to put Brothels and places to shoot up with deadly drugs next door to all your vulnerable, loving, innocent children & apparently, Conservative propaganda has been published with that same idiotic & unfounded, un-verified claim in Chinese and maybe other languages most Canadians can’t read. So who knows what other flagrant lies these morons are trying to put out there and believe we’re all stupid enough to believe that if they say something, it must be true?
My favourite psychic/sensitive people still believe the Conservatives will lose big time in this election – A lot of veterans are mobilized in an “Anybody But Conservatives” campaign.
Meanwhile, some Media Watch people keep pointing out that Stephen Harper’s tactics lately show them that he’s desperately trying to hold on to his base. They point to him bringing out the loose cannon – drug addicted ex-mayor of Toronto and his brother, sitting them in front of a room only half full of ‘party faithful’ as a symptom of this desperation.
I do not endorse anybody here, but I really hope the Canadian Voters are not so blind and stupid they re-elect these ice-holes.
But then I can still hear one of my favourite Canadian’s voice, “People around here would elect a dead goat if it ran under the Conservative Party of Canada’s banner-” ringing in my ears.
——— douglas jay otterson ———
Monday, 27 July, 2015 – No wonder I never get anything of my own done-
& So far, nobody has won a “Nice Job” from me by telling me that the ‘other’ progressive law recently passed in France makes it illegal to design planned early obsolescence into products.
——— djo ———
Monday, 27 July, 2015 -( 83˚F / 28˚C w/ Scattered Clouds in the Finger Lakes Region of New York @ 3:45 pm &&& 75˚F / 24˚C & Overcast in New Brunswick @ 4:45 pm &&& 63˚F / 17˚ C & raining in North Pole, Alaska @ 11:45 am there )-
Walter Burien’s forecast for upcoming Ekonomic Manipulations – Came in email today, link at the bottom :
——— djo ———
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CAFR1 NATIONAL POST
CAFR1 MARKET RANTS POST OF 07/27/15 at 10:07 AM EASTERN TIME.
This Wednesday is the FOMC (Federal Open Market Committee) monthly meeting in which the determination is made for a interest rate increase. The announcement comes out at 2 PM Eastern time.
Interest rates have held at their lowest levels for several years. All have been watching for the first move by the Fed towards the 1st increase.
Well, the data they look at to make their determination, Unemployment, GDP, Durable Goods orders, etc. have almost fallen in line. The market chatter has been looking for the 1st increase to take place in September or October of this year. From the writing on the wall, and in my opinion, I give it a 60% probability the 1st increase will be announced tomorrow at 2 PM Eastern time.
At last months meeting, one member pushed to have the increase start last month. At this meeting the data that came out since the last meeting supports an increase.
Bottom line if they do so? Some of the wildest swings seen for quite some time in the interest rate futures, metals, dollar index, stock indexes, etc. US 30 Year Bonds could see a swing of 3 to 5 points to the downside . Silver a $1.25 to $2 swing to the upside. Stock indexes to the downside, then a massive swing to the upside. All will be on a roller-coaster ride for sure.
If they do not? The chatter from the meeting will probably indicate doing so where it will have the same effect but not as visceral.
Keep your eyes open tomorrow!
Sent FYI and truly Yours,
Walter J. Burien, Jr.
P. O. Box 2112
Saint Johns, AZ 85936
Home: (928) 458-5854 Arizona
—– To update your information regarding getting email posts from Walter Burien – CAFR1, please use the following link:
http://cafr1.com/phplist/?p=preferences&uid=ff11ad17e48139240703465de52b8b2c —–