Sunday 29 Nov 2020
Biden's lead in Dane County, Wisconsin, narrows by just 45 votes after recount - CNN.
‘Worst house in best street’ in Bellevue Hill sells for $5.4 million at auction (Australia) - Domain. Countries with high property prices are likely to have high inflation in the future, which will lower the value of the currency, making the homes look less expensive to foreigners.
Retail sales (blue) recovered in October in nominal value, without considering the increase in money. E-commerce Retail in red shot up. It is insignificant compared to the increase in Money Supply in green. Consumers may think they have more money, but they are in fact being impoverished by inflation. When people live above their means using debt, for example bigger homes, they are forced to cut back on other goods through inflation.
Saturday 28 Nov 2020
Black Friday shopping in stores craters 52% during pandemic as e-commerce sales surge - CNBC.
What Black Friday TOLD Us: Economic Wipe-Out (Full Details) - Youtube.
Visualizing 50 Years Of Gaming History, By Revenue Stream (1970-2020) - Zero Hedge.
This FRED chart shows corporate profits have increased relative to the declining economic (Gross Domestic Product represents the total sales of all business activity) in the third quarter, whilst the S&P 500 earnings is -6.3% lower in the third quarter Factset.
Friday 27 Nov 2020
The S&P 500 PE Ratio is 36.83. The profit margin is historically high (Yardeni, NIPA = National Income and Product Accounts). If the profit margin falls like it did in 2008, the PE ratio will shoot higher.
On Twitter: Michael Lebowitz, CFA @michaellebowitz: "As shown below, inflation has reduced purchasing power for the last 80 years, unless of course you magically adjust prices using hedonics." link.
China slaps tariffs of up to 212% on Australian wine imports - CNN.
Trump says for first time he'll leave office if Electoral College votes for Biden - CNN.
German minister urges meatpackers to work overtime to clear farm backlog - Reuters. Animals are waiting to be slaughtered.
Fox News Daytime Ratings Drop By 32% in Two Weeks Since the Election - David Harris Jr.
The biggest lottery in the world is the Spanish Christmas Lottery - Wikipedia. The draw is 22 Dec. The top prize of €4,000,000 may seem big, but could be shared by many people having the same winning number. In 2019 there were 170 of the same numbers issued. People are sucked in by the big first prize, but in order to pay the prize a lot of other people must lose money. The odds of making money in a lottery is extremely small.
What matters in gambling is the payout ratio. In total the participants in a lottery lose money, due to the portion collected by government as income. In the US, the payout varies between 20% and 80% for various states: Which States Have the Biggest Lottery Payouts? - The Balance Everyday.
Thursday 26 Nov 2020
From 24 June 2020: CAN TOO BIG FOR FED & ECB - Gold Switzerland. "Most declines of major cycles are drawn out and this one has lasted half a century. During that time the dollar is down 50% against the DM/Euro and 78% vs the Swiss franc. And US debt has gone up 65x since 1971 from $400B to $26T. A collapsing currency and surging debts are how all empires end."
Yellen’s old ideas are bad fit for Biden’s cabinet and the US economy - SCMP. Governments continue to overspend, and borrow money to make up for the shortfall.
Disney is laying off 32,000 employees - CNN.
A Bargain Stock In Today's Overvalued Market: Kroger - Seeking Alpha.
Boeing Loses More Orders - Seeking Alpha.
Cerebras Trillion Transistor AI Wafer-Chip Crushes GPU Supercomputer by 200 Times - Next Big Future.
YouTube Attempts To Silence The Mises Institute - Zero Hedge. The video suggestion feature of Youtube doesn't work, just like the Google search engine doesn't work.
Sweden’s Princess Sofia and Prince Carl Philip Test Positive for COVID After Gathering at Royal Funeral - People.
Wednesday 25 Nov 2020
On Twitter: Charlie Bilello @charliebilello: "US daily air travelers crossed above 1 million for the first time since mid-March. Still down 60% from same time last year but over 10x higher than the lows in mid-April." chart.
The same economic pattern repeats everywhere, like it does now in the US and Europe. People are impoverished by government printing money. Then they vote for a government that provides financial support, the same government that has caused their poverty. Socialism grows until the economic stops growing, and that is where it stays. Stock market commentators are creating the impression that the economy is growing. The only thing that is going up is inflation.
Repeating the chart from 6 Oct, the trade deficit (blue) increases as the stock market (red) shoots higher, which suggest foreign capital inflow contributes a small amount to the stock market gains. That is like investing in the Zimbabwe stock market, because it appears to go up in Zimbabwe dollars. In the past, developed countries were able to exploit cheap labour in other countries, which led to strong currencies. This benefits developing countries in the long run as they are forced to develop their own advanced products.
To a foreign investor who lived in a ideal country with no inflation, his real performance in the US stock market including dividends would be the blue line. This assumes the M2 money supply represents the actual US inflation rate. If there is real economic growth, then inflation is less than the money supply growth rate. Inflation can also be higher than money supply growth, if for example government spends more inefficiently.
Such an ideal no-inflation currency doesn't exist. Relative to gold in yellow, for the period October 1997 up to now, all the effort that companies, investors and financial media have expended has achieved nothing relative to a passive investment in gold. The vast majority of economic and stock market "gains" is just inflation caused by government.
Tuesday 24 Nov 2020
Age Reversal Effects from Hyperbaric Treatments - Next Big Future.
On Twitter: Peter Schiff @PeterSchiff: "All of this talk on @CNBC that the 2020s will be a repeat of the roaring 1920s is utter nonsense. It will be more like a combination of the 1930s for growth and the 1970s for inflation, except with an even weaker economy and ever higher inflation."
On Twitter: Steve Liesman @steveliesman: "In thinking about what Yellen’s nomination means for the advancement of women in politics & economics, it’s worth noting that any 2 items on her resume should be enough to qualify her for the job." image. She is well qualified to be a chair tester or seat warmer.
UK Supreme Court Judge Slams "Totalitarian" COVID "Control Freaks" In Government - Zero Hedge.
Cocoa flavanols boost brain oxygenation, cognition in healthy adults - Medical Express.
Moviegoing Teeters After 700 Theaters Reclose Overnight in North America - Hollywood Reporter. They have been in decline for a long time.
Eurozone M3 money supply (blue) is now growing at +9.7% like a proper third world country. Owners of assets like houses (red) are enriched, whilst worker wages decline in real terms.
Monday 23 Nov 2020
On Twitter: Kevin Sorbo @ksorbs: "If strip clubs can stay open but churches can’t, you know there’s a problem." The solution seems obvious: stripping preachers. It wil be a religious experience.
On Twitter: St. Louis Fed @stlouisfed: "Households in the bottom 50% of net worth took nearly a decade to recoup wealth lost during the Great Recession—much longer than their recovery times after the two previous downturns http://ow.ly/fcnV50CsNMt": chart.
On Twitter: zerohedge @zerohedge: "Tesla about to surpass Berkshire market cap": chart. Berkshire Hathaway has existed for 181 years. Warren Buffet took it over 55 years ago.
Walmart Thanks Government For Completely Obliterating Their Small Business Competition - The Babylon Bee.
On Twitter: Sheila Bair @SheilaBair2013: "Congratulations to Janet Yellen. After breaking the glass ceiling at the Fed, she will now become the first woman to lead the US Treasury Department. Outstanding, unifying choice by the President-elect." Is she supposed to enforce discipline in government spending, at 74?
Scientists produce diamonds in minutes at room temperature - Mining.com.
Zambia failed to pay $42.5M interest last month (Zambia to default on foreign debt, finance minister says). Total debt is $11,200M. With exports between $372M to $500M per month the country can afford to pay back the debt (Trading Economics). Instead of cutting government spending, they are defrauding lenders.
On Twitter: Alessio Urban @AlessioUrban: "This is probably a 1929.. lol... real economy keeps collapsing, retail investors all in, stonks only go up.. right? Plenty of opportunities everywhere." In 1929 the government limited money supply. Now the idea is to inflate the problem away. It is still a depression, but the average person is too stupid to realize they are becoming poorer.
Covid-19: Oxford University vaccine shows 70% protection - BBC News. On Twitter: Stare Decisis @MsResJudicata: "When the vaccine was given as a half dose, followed by a full one at least one month later, efficacy was 90%. When the jab was given as two full doses at least one month apart, efficacy was 62%. The average efficacy was 70%."
On Twitter: Squawk Box @SquawkCNBC: "AstraZeneca made a huge commitment to provide the vaccine with no profit ... that's a very important part of our strategy: to make this vaccine available to all the people around the world and that this is not reserved only to the rich countries," says $AZN EVP Ruud Dobber.
Pharmaceutical companies with COVID-19 vaccines:
.... Pfizer (PFE) trades on a price/sales for 2019 of $36.70/$9.12. They haven't grown for a decade. The best EPS was $3.52 in 2016.
.... Moderna (MRNA) trades on a price/sales last quarter annualized of $97.61/$1.60. They haven't shown a profit yet.
.... AstraZeneca PLC (LON: AZN) trades on a price/sales for 2019 of $82.00/$9.371. Revenue has recovered after a decade of declines.
Footage emerges of wild scenes at Shanghai Pudong Airport after all staff ordered to be tested for coronavirus - News.co.au.
There are calls for signatures to be verified in the US election. If this were possible then the votes would not be secret.
We don't know what happened at this year's American Music Awards, but last year Carrie Underwood won the award for best legs: The best photos from the American Music Awards - BBC.
The support line for the US dollar index is -30% lower. Given the massive US debt, a weaker dollar is a given at some time in the future (in the absence of an economic revolution).
Sunday 22 Nov 2020
On Twitter: Rudy W. Giuliani @RudyGiuliani: "Want evidence of fraud. In 70% of Wayne County, Detroit, there were PHANTOM VOTERS. There were more votes than registered voters. 120%, 150%, 200%, even 300%." Twitter: "This claim about election fraud is disputed". The election results shows only 62% of registered voters cast a vote: Wayne County.
On Twitter: Daniel Lacalle @dlacalle_IA: "The Fed needs someone who will defend savers and real wages." video.
On Twitter: Liza Lin @lizalinwsj: "KFC starts selling fried chicken in #China with self-driving, unmanned food trucks. Hmmm.": image. Such automation could lead to high economic growth in China.
Trump's embarrassing, incompetent, humiliating, very sad coup - Business Insider SA.
On Twitter: Rob Portman @senrobportman: "The gridlock we have seen in DC over the past few months must be broken. We are in the midst of a health care & economic crisis. It’s time to come together and pass a bipartisan #COVID19 relief bill." Port is too sweet due to the late harvest. The relief is basically just a loan, which the recipients will pay for through inflation later.
On twitter: Christina Pascucci @ChristinaKTLA: "Spoke to restaurant owners in LA on this latest lockdown. They had spent thousands making outdoor dining feasible. They had prepped for Thanksgiving week, one of their biggest nights for business of the year. This is devastating for them. His one question: where is the science?"
The Carol Burnett Show - S1 E4 - Lucille Ball, Tim Conway - Tubitv.
Trump Requests Georgia Recount, Meaning 5 Million Votes Will Be Tabulated A 3rd Time - NPR.
Saturday 21 Nov 2020
Can We Stop COVID-19 From Out-Evolving a Vaccine? - Science Alert.
Individual US stocks have recovered to extreme levels. Many trade on price/earnings around 30. Such low earnings yield relative to money supply growth of 24% makes no sense.
Target (TGT) had shot up to $172.31/$6.92 = 25. For the last decade their sales have grown by about 1.65% per year. For the last quarter sales increased +25%. Like Walmart it could be related to the 24% increase in money supply. Wages won't increase at the same rate as product prices, leading to poorer consumers.
Friday 20 Nov 2020
Huge Cruise Ship News Update - Youtube.
Trump is the true perpetrator of election fraud - CNN.
Why Trump’s election fraud claims aren’t showing up in his lawsuits challenging the results - The Conversation.
DC Unveils New Batman Statue in Burbank - The Hollywood Reporter. The statues of real historical figures are torn down, and replaced by fictional characters.
BREAKING: President Trump Lawyers DEMAND Data In Wisconsin Recount - Fox, Youtube.
Trump Impersonator Sarah Cooper on President's Election Loss: "I'm Happy" - The Hollywood Reporter.
The Lithium exchange traded fund LIT has shot up from $18 in April to $80 now.
‘No Pardons. No Immunity’: Mary Trump Says Her Family Must Pay - Huffpost.
Tesla (TSLA) could make 1.5m cars per year when the German factory is at phase 3. At a 5% net profit margin on a $35,000 car, the profit would be $2.65B. Tesla's market cap of $473B would be a price/earnings of 178. The biggest seller in 2019 was General Motors with 2.9m vehicles (Automobilemag). Their profit was $6.73B, net profit margin was 4.8% in 2019, and price/earnings $42.82/$4.57 = 9.4.
Hilton Hotels (HLT) share price has recovered close to previous highs, to a PE on 2019 profit of $102.80/$3.04 = 33.8. Sales have declined last 4 years. It seems unlikely that the economy will recover to previous years even with a vaccine.
Home Depot (HD) had the best quarter ever with sales up +23%, and EPS of $4.02. The price/earnings is $270/$10.96 = 24.6. People in lockdown are spending their money on home renovations. There is a limit to how much renovation you can do that adds value.
Coronavirus ‘will fight back’ against vaccination, expert warns following Oxford University, AstraZeneca results - News.com.au.
Severe heatwave to hit parts of Australia today as temperatures soar - News.com.au. The earth uses rain to regulate the temperature. It requires higher temperatures to increase water evaporation, and generate smoke to seed the clouds.
Thursday 19 Nov 2020
Joe Biden confirmed as Georgia winner after recount - Guardian.
On Twitter: Stimpyz @Stimpyz1: "Student borrowers will do what zombie corporations do, just stop paying and dare the government to do anything about it". Student debt is $1,600,000M. Lori Loughlin was sentenced to prison for 2 months for a bribe of $0.5M. So, in proportion the debt default should result in 6,400,000 months in prison, which comes to 5333 centuries in total for all borrowers. The exorbitant student fees are basically bribes.
John Malone says he’s buying hard assets like housing in bet on currency devaluation - CNBC.
On Twitter: Conan O'Brien @ConanOBrien: "Serious question: Can a tree go to rehab?" image.
Tiny owl found hiding in the Rockefeller Christmas tree isn't going home. Here's why. - Live Science.
On Twitter: Mr. Deplorable @Ponzi1945: "I see $TSLA as the 11th largest company in the US by market cap. This is the biggest bubble in human history."
The Soaring Value Of Intangible Assets In The S&P 500 - Talk Markets. When companies borrow more to buy back shares, they need more assets to report a positive net asset value (NAV)? When the stock market collapses, shareholders will be looking for tangible assets to support the share price.
‘It’s going to pop’: Major warning to Biden-led America - Yahoo Finance. " leaving other world economies like Australia better off". Australia also has an enormous debt bubble.
Joe Biden’s dogs Major and Champ take social media by storm - The South African. These are the trained attack dogs he will use to get Trump out of the White House.
Oxford Vaccine Induces ‘Robust’ Immune Response In Older Adults, Early Findings Show - Forbes.
Washington Post: Trump spoke to GOP official who now wants to 'rescind' vote to certify Detroit's results - CNN.
Wayne County Republican canvassers can’t rescind their votes to certify election, says Secretary of State - Mlive.
Wednesday 18 Nov 2020
In dramatic reversal, Wayne County election board Republicans rescind votes certifying results - Just The News.
2 men charged in voter fraud involving 8,000 ballot applications for 'fictitious' or dead voters - Fox News. It is usually politicians who commit election fraud, not poll workers.
Instant View: Pfizer ends COVID-19 trial with 95% efficacy - Reuters.
U.S. ends Boeing 737 MAX flight ban after crash probes - Reuters.
Container freight rates soar on consumer goods boom, supply chain kinks - Reuters. The Baltic Exchange Dry Index has dropped from the peak in October.
Trump fires director of Homeland Security agency who had rejected President's election conspiracy theories - CNN.
On Twitter: Alex Salvi @alexsalvinews: "NEW: The Pennsylvania Supreme Court along a 5-2 vote rejects the Trump campaign's claim they lacked proper observation over the vote count in Philadelphia."
Next year to overthrow the government, Trump will create the Trump Underground Resistance Disciples (TURD).
Tubi provides free online TV shows and movies, like Garfield and Friends.
Eurozone GDP up to Q2 (red) compared to ECB assets (blue) up to 13 Nov:
Tuesday 17 Nov 2020
On Twitter: Eric Feigl-Ding @DrEricDing: "BREAKING—Sweden just announced not only new record high — it also reported the LARGEST single day surge ever recorded with 6743 new #COVID19 cases. Guess that “Sweden won’t be hit as hard as Norway when fall comes” promise by Sweden’s Tegnell didn’t pan out well. How it’s going": chart.
On Twitter: Holger Zschaepitz @Schuldensuehner: "#ECB Balance sheet hit fresh ATH at €6,833.5bn as Lagarde keeps printing press rumbling. Total assets rose by another €36.6bn, mostly on QE. ECB balance sheet now equal to 68% of Eurozone GDP vs Fed's 34%, BoE's 36%, BoJ's 131%." chart.
On Twitter: Lisa Abramowicz @lisaabramowicz1: "Nearly 20% of the U.S.’s largest publicly-traded companies are now considered zombies, meaning they don't earn enough to cover their interest expense. And they’ve added almost $1 trillion of debt to their books since the onset of the pandemic." chart.
Usually interest rates must increase to stop inflation running away. The US Fed thinks it can keep interest rates low, and grow the money supply further. We are waiting in antici...pation (Sweet Transvestite - Rocky Horror Picture Show) to see what happens to this circus.
Walmart Jumps After Smashing Expectations As Average Ticket Soars 24% - Zero Hedge. "What is notable is that the 6.4% surge in comps was even as the number of transactions tumbled 14.2% Y/Y at U.S. Walmart locations, yet the average purchase surged 24.0% which means shoppers are consistently buying more every time they place an order." That looks a lot like inflation. It happens to correspond exactly with the money supply growth of 23.5%.
Political analysts predict Trump will form a resistance group next year to overthrow the government. Trump will take guerilla movement literally, and wear a guerilla suit. He will be known as Big Foot, due to his physique. There are only two months left for Trump jokes. All jokes must go.
I put a baby filter on the debate and it will make you laugh... - Youtube.
On Twitter: Richard Quest @richardquest: "This is #heathrow T2 this morning. Like FRA - saw last week- these second (understandable) lockdowns are having devastation effect on travel": image.
This chart attempts to match the gold price (yellow) to the copper price (orange), and US M3 money supply (green).
Monday 16 Nov 2020
Taylor Swift Confirms Scooter Braun Sold Her Big Machine Masters - The Hollywood Reporter.
On Twitter: CNBC Now @CNBCnow: "BREAKING: Tesla to join the S&P 500 on December 21."
Walmart retreats from Japan by selling most of its stake in Seiyu supermarkets - CNN.
UTA Says It Has Lost $150M Because of Pandemic in Suit Against Insurers - The Hollywood Reporter.
Donald Trump mocked after falsely claiming election win on Twitter - News.com.au.
Health experts plead for more action as Donald Trump ignores coronavirus, focusing on election misinformation instead - News.com.au.
On Twitter: Zach Carter @zachdcarter: "The median student loan payment is $222 a month. Eliminating that bill for households helps stimulate the economy. This should not be controversial." Some-one must pay for it. When the government no longer receives the debt repayments, they could either pay government workers the equivalent amount less, so they stimulate the economy less, or print the money and cause inflation which cancels out the benefit.
On Twitter: News from Science @NewsfromScience: "Moderna has announced that its experimental mRNA vaccine for #COVID19 achieved 94.5% protective efficacy in an interim analysis of a 30,000 person trial. In 2017, we visited Moderna to get a look at its core technology and its broad ambitions."
On Twitter: (((The Daily Shot))) @SoberLook: "Corporate insiders have been selling into the rally. https://thedailyshot.com. Source: @thomsonreuters, @barronsonline, @ISABELNET_SA": chart.
Study finds eating chili peppers could reduce cancer and heart disease - Popular Mechanics. They are probably slimmer as the chillis irritate the lining of the digestive tract and food moves faster.
Twitter out of date feed: Elon Musk @elonmusk: "8h. Launch in 5 minutes."
On the FRED chart below house price inflation (blue) subsequently led to consumer inflation (red). When house prices increase, salaries must rise to pay for it, which leads to higher prices for all products and services. Judging by the high house price inflation (blue) up to 2005, consumer price inflation (red) should have been higher, but government is falsifying the statistics so as to avoid negative economic growth, which would upset voters.
Sunday 15 Nov 2020
Experimental drug halves cholesterol levels in phase 2 clinical trials - New Atlas.
Study offers "indisputable" link between Alzheimer's and gut microbiome - New Atlas.
On Twitter: Rudy W. Giuliani @RudyGiuliani: "My team is fighting vigorously on behalf of the President to restore legitimacy and trust in the results of this election and future ones. Systematic fraud, irregularities, and UNLAWFUL conduct erode confidence in our free and fair elections!!" The Republican party seems to be digging a bigger and bigger hole for itself.
Boris Johnson forced to self-isolate again as crucial week begins - The Guardian. He already had the virus, so cannot be a carrier (after sanitizing).
November 2020 Newsletter: Defining Inflation - Lyn Alden. Those are three phases of the same inflation. Monetary inflation leads to asset inflation, which leads to consumer inflation. The higher cost for tuition and medical is the main reason why shopping centres are in decline.
Arthritis drug cuts COVID-19 deaths in hospitalized patients by two-thirds: study - NY Post.
Commercial Loan Demand Plunges To New Post-Lehman Low Even As Lending Standards Ease - Talk Markets.
Scientists want sodium-ion batteries to start competing with Li-ion batteries - Mining.
On Twitter: Stuart Wallace @StuartLWallace: "Pompeo embarked on a seven-nation tour that will put his counterparts in an uncomfortable position, as he presses for cooperation on Trump administration foreign policy priorities that Biden is likely to abandon when he takes office. https://bloomberg.com/news/articles/2020-11-14/pompeo-trip-to-offer-awkward-moments-amid-election-transition via @nwadhams". Perhaps he is looking for a country that will provide asylum to Trump.
The campaign to reduce carbon dioxide emmissions is a total failure: Global fossil fuel consumption - Our World in Data. The use of coal has levelled off since 2011, but natural gas and oil is still rising sharply. The move to cleaner energy sources has probably resulted in less smoke to seed clouds, and thus contributing to droughts.
US election: Legal battle records losses in Pennsylvania, Arizona and Michigan - News.co.au.
The big question in the US election remains unanswered: who did Melanie Trump vote for?
Trump has won Alaska. Alaska says they will secede from the US, and Trump wil become their king. Long live King Donald.
Saturday 14 Nov 2020
Trump blasts 'ANTIFA SCUM,' media after violence mars MAGA marches in DC - Fox News.
Donald Trump threatens to withhold Covid-19 vaccine from New York, feuds with governor - Business Insider SA.
Suspect Arrested in Attack on Actor Rick Moranis - The Hollywood Reporter.
An American was jailed after leaving a negative review of a Thai hotel on TripAdvisor - Business Insider SA.
Is This Possibly the Best Donald Trump Impression? | Good Morning Britain - Youtube.
Stock markets mainly rise because of inflation, not real economic growth. Regardless of what the actual inflation rate is, the stock market can't grow faster than nominal economic growth in the long run. For the economy (red) to reach the present stock market (blue), a lot of money must be printed. Money supply has increased by 23.5% recently, without much effect on nominal economic output. So, not even that is going to save the stock market from a collapse, or save the economy from another Great Depression.
Friday 13 Nov 2020
Sweden's new car carrier is the world's largest wind-powered vessel - CNN.
Gambling sites refuse to call election for Biden, leaving $600 million in limbo - NY Post.
On Twitter: FactSet @FactSet: "$SPX is reporting its 3rd largest Y/Y decline in earnings in Q3 2020 (-7.1%) since Q3 2009 (-15.8%). https://bit.ly/3luBwNL" It must be measured relative to inflation. M3 money supply grew 23.5%.
White House Press Secretary Insists Trump Will Attend ‘His Own’ Inauguration In January - Huffpost.
Small wedding leads to multiple coronavirus outbreaks, kills seven - News.co.au.
On Twitter: Elon Musk @elonmusk: "Something extremely bogus is going on. Was tested for covid four times today. Two tests came back negative, two came back positive. Same machine, same test, same nurse. Rapid antigen test from BD."
On Twitter: Stuart Wallace @StuartLWallace: "China congratulates Joe Biden and Kamala Harris on winning the U.S. presidential election https://bloomberg.com/news/articles/2020-11-13/china-joins-nations-congratulating-biden-on-u-s-election-win". They have been able to tabulate the votes using the Huawei spy network.
Today, Friday the 13th, could be Trump's lucky day. Ok may be not.
Trump campaign drops Arizona ballot challenge case, Michigan judge rejects GOP bid to block Detroit vote certification - CNBC.
Queen – Bohemian Rhapsody (Donald Trump Cover) - Youtube.
Thursday 12 Nov 2020
This Colorado Campsite Now Offers Oregon Trail Style Covered Wagon Glamping - Travel + Leisure.
Facebook must delete insults to Austrian politician worldwide, says court - The Verge.
Amazon sues online influencers engaged in a counterfeit scheme - Tech Crunch.
Bridge collapses live on news in North Carolina amid heavy rain - Youtube.
Trump campaign's challenge of election results in Pennsylvania, Michigan and Arizona push US toward 'loss of democracy' - USA Today.
On Twitter: Donald J. Trump @realDonaldTrump: " “REPORT: DOMINION DELETED 2.7 MILLION TRUMP VOTES NATIONWIDE. DATA ANALYSIS FINDS 221,000 PENNSYLVANIA VOTES SWITCHED FROM PRESIDENT TRUMP TO BIDEN. 941,000 TRUMP VOTES DELETED. STATES USING DOMINION VOTING SYSTEMS SWITCHED 435,000 VOTES FROM TRUMP TO BIDEN.” @ChanelRion @OANN"
Italy has 6x the population of Sweden. Italy's daily new coronavirus cases is peaking around 35K, and Sweden's daily new cases are leveling of at 4.5K. Italy's daily deaths hasn't peaked, it is up to 623, whilst Sweden's daily deaths have peaked at about 15. Total death for Italy is 1/1376 of the population, and Sweden 1/1633 of the population. Italy at 201 per km2 has a higher population density that Sweden at 25 per km2.
On Twitter: Elizabeth Warren @SenWarren: "1. Biden-Harris can cancel billions of dollars in student loan debt, giving tens of millions of Americans an immediate financial boost and helping to close the racial wealth gap. This is the single most effective executive action available for a massive economic stimulus." The poor people who could not afford the education for themselves will end up paying for most of the debt, because they lack the pricing power to increase their wages in line with the inflation created when government prints money to pay for the debt.
On Twitter: Jimmy Kimmel Live @JimmyKimmelLive: "FINALLY! A way to explain the election to your kids…": video.
Elon Musk @elonmusk: "4 Astronauts fly to @Space_Station on Sat night from Cape. First operational flight of Crew Dragon.": photo. What if they miss the International Space Station? Will they carry on and visit other planets?
On Twitter: Michael Brown @MrMBrown: "More important than the GDP number. UK OFFICE FOR NATIONAL STATISTICS SAYS 49% OF CURRENTLY TRADING UK BUSINESSES REPORTED A DECREASE IN THEIR TURNOVER BELOW WHAT IS NORMALLY EXPECTED FOR THIS TIME OF YEAR." Positive for the stock market (sarcasm).
State Department Blocking Biden From Accessing Messages From Foreign Leaders, Report Says - Forbes. So the fat dude, who is like the school yard bully, is unhappy about being beaten by the skinny guy.
To what extent does government stimulate an economy by handing out money? For reference, if everybody received an extra 10% more than they have now, and they continued to do the same work, and bought the same goods: all goods would cost 10% more, but people could still afford it, because they would earn 10% more. Inflation would be +10%, nominal economic growth 10%, real economic growth 0%, and velocity of money flow 0%. This is from the equation Velocity x Money Supply = Real Economic Growth x Inflation, in which 0% + 10% = 0% +10%.
What happens in the real world? US money supply (blue) increased by a massive 23.3% over a year. Q3 nominal economic output (red) did recover, but was still -1.8% less than a year ago. If the money supply increase caused inflation of 23.3% (it is delayed), then real economic growth corresponds to the velocity of money flow (green) which fell -20.5% over a year. The green velocity curve represents standard of living. It is slightly higher than Q2. The standard of living never recovered from the drop during the Great Recession of 2009.
Wednesday 11 Nov 2020
WOLF STREET “Pickup Truck & Car Price Index” for 2021 Models Crushes Official “CPI for New Vehicles” - Wolf Street.
China's Biggest Tech Stocks Suffer Historic Plunge As Beijing's Crackdown On Billionaires Continues - Talk Markets.
Laura Ingraham Scolds Lindsey Graham On Live TV Over His Constant Money Pleas - Huffpost. US elections have turned out to be way more entertaining than anticipated.
Georgia to conduct full by-hand count of presidential race ballots, secretary of state says - CNN. The most shocking part of the US election is the man hours being wasted. The public could vote online at home in 10 minutes, and their vote added instantly. They could also change their vote any time in the future.
Tuesday 10 Nov 2020
On Twitter: The Lead CNN @TheLeadCNN: "Dr. Anthony Fauci tells @jaketapper that an average American could potentially have access to a coronavirus vaccine by April of 2021."
On Twitter: MK_INVESTMENTS @MKINVESTMENTS2: "OIL: European oil demand was good in October. Inventories for 16 Europe nations fell by 7.76 million barrels (crude -8.3, gasoline 1.5, distillate 0.4, fuel oil -0.8, naphtha -0.6) according to Euroilstock."
On Twitter: Gold Telegraph @GoldTelegraph_: "Money printing is currently a global phenomenon... The Reserve Bank of New Zealand ownership of the country's outstanding nominal government bonds has rocketed from 6% to 37% in the space of seven months. Central Banks are begining to be the primarily owner of debt markets..." That is to keep interest rates below market rates, to keep bubbles going. Over time money is printed to pay the debt.
On Twitter: Julia Chatterley @jchatterleyCNN: "Amazon accused! The EU charges #Amazon with antitrust violations. @annastewartcnn has the details on @firstmove $AMZN".
Why Norwegian Cruise, Carnival Corporation, and Royal Caribbean Stocks Crashed This Morning - Nasdaq. "A miserable earnings report from Norwegian Cruise Line, followed by an announcement that Carnival is cashing in on yesterday's stock surge with a $1.5 billion share offering, sent both stocks tumbling".
From 15 Sep 2020: Carnival Shares Slump as Cruise Operator Launches $1 Billion Stock Sale - Barrons.
From 31 March 2020: Beleaguered cruise ship company Carnival to raise $6 billion in stock and debt, shares jump - CNBC.
On Twitter: Walter Bloomberg @DeItaone: "ITALY WILL GET AN INITIAL 3.4 MLN SHOTS OF PFIZER CORONAVIRUS VACCINE, PROBABLY IN JANUARY - GOVT SOURCE".
Some shares, like hotels and cruise lines, have shot up on news of a vaccine, whilst others showed no reaction.
The Top 3 Hotel REITs of 2020 (HPT, INN) - Investopedia. Host Hotels and Resorts (HST) shot up +30.1% to $13.64. Long term it declined from around $21 in 2018 to $17 at the beginning of 2020. The weaker economy as a result of the lockdowns is likely to linger for some time.
Netflix (NFLX) has formed head-and-shoulders pattern.
You Won't Believe This Amazing Tiny House & Parking Spot! - Youtube.
Sean Connery’s widow could face jail time over alleged tax fraud in Spain - NY Post.
Monday 9 Nov 2020
On Twitter: Donald J. Trump @realDonaldTrump: "@FoxNews @QuinnipiacPoll, ABC/WaPo, NBC/WSJ were so inaccurate with their polls on me, that it really is tampering with an Election. They were so far off in their polling, and in their attempt to suppress - that they should be called out for Election Interference..." Polls can influence an election, but to the detriment of the popular candidate. If people believed Biden would win easily, less Biden supporters were likely to have made the effort to go and vote.
On Twitter: InvestigateMidwest @IMidwest: "2020 changes just keep coming. Alabama turkey farmer Jesse Murphy says he’s currently 60% behind his turkey sales compared to the same time last year. And every single customer who has put in orders so far has requested a smaller turkey. via @ModFarm"
Software that incorrectly gave Biden thousands of Michigan votes used in 28 other states - Just the News. A humanoid robot from the future travelled back in time to ensure Trump doesn't win because of his attack on the machines.
On Twitter: zerohedge @zerohedge: "Pfizer trial: 94 patients of 43,358 contracted Covid-19; of those 94, eight had received the vaccine and 86 had received a placebo". If contracted means developed symptoms, it suggests 0.39% developed symptoms without the vaccine, and 0.037% with the vaccine. The rate of contraction was very low.
On Twitter: Meg Tirrell @megtirrell: "BREAKING: Pfizer/BioNTech say their vaccine is more than 90% effective in preventing #covid19 at first interim look at phase 3 trial. No serious safety issues. CEO @AlbertBourla: “Today is a great day for science and humanity.” He joins us next on @SquawkCNBC." If 90% of people normally have no symptoms without a vaccine, does the vaccine reduce the infection amongst the affected 10% by more than 90%?
Pfizer and Biontech announce vaccine candidate against COVID-19 achieved success in first interim analysis from phase 3 study - Pfizer. The statement says cases were split with a placebo, but then says there have been 43,538 participants, of whom 38,955 received a second dose. By dose they mean either a vaccine or placebo?
Biden win lifts world stocks to record peak; dollar fades - Reuters.
How the world has reacted to Donald Trump’s tantrums over US election result - News.com.au.
Trump-Supporting Televangelist Kenneth Copeland Has The Weirdest Meltdown Over Biden Victory - Huffpost.
Virgin Hyperloop makes history by completing its first crewed journey - Popular Mechanics SA. Who wants to be blasted through a tube?
CDC lifts ban on cruising in the US - Getaway. Who wants to wear face masks on a ship for days or weeks?
From 21 Jun 2016: Donald J. Trump @realDonaldTrump: 'I am "the king of debt."That has been great for me as a businessman, but is bad for the country. I made a fortune off of debt, will fix U.S.' Fraudulently taking other people's money for unprofitable ventures, like golf courses.
The way the US Congress is split, creates a great opportunity for a small kingmaker party.
Sunday 8 Nov 2020
St. Louis Couple Sues Journalist For Photo Of Them Brandishing Guns At BLM Protesters - Huffpost. They should have had a moat around their property, and turrets for throwing hot tar on invaders. After thousands of years of evolution, civilized people must again protect themselves from barbarians.
On Twitter: Pete Buttigieg @PeteButtigieg: "If someone you love and care about voted the other way, today might be a good day to reach out. Not to talk politics, but to talk about things that will remind them (and yourself) why you love and care about them." Today would be a good day to get divorced or write them out of your will.
On Twitter: George W. Bush Presidential Center @TheBushCenter: Statement by President George W. Bush: text. In contrast to:
On Twitter: Donald J. Trump @realDonaldTrump: " “We believe these people are thieves. The big city machines are corrupt. This was a stolen election. Best pollster in Britain wrote this morning that this clearly was a stolen election, that it’s impossible to imagine that Biden outran Obama in some of these states."
Twitter remark: "This claim about election fraud is disputed". Eventually Trump will be escorted out of the White House by men in white coats, and taken to an insane asylum. Trump should get Sarah Connor to fight the machines.
Astronauts head to launch site for SpaceX's 2nd crew flight - Phys.org.
Pranksters are flooding Trump's election fraud hotline to mock him for losing - Business Insider SA.
Jill Biden could be the first FLOTUS to have a full-time job in the role's 231-year history - Business Insider SA.
President-elect Joe Biden’s transition website goes live - New York Post.
Trump is a reminder of body switch movies. He is like a six year old in an adult body. Somewhere out there is a six year old with an adult brain. Greta Thunberg?
What if Trump doesn't want to leave the White House? Call pest control. The Jimi Hendrix Experience Lyrics - Azlyrics: "Hey Joe (Biden), where you goin' with that gun in your hand?"
Saturday 7 Nov 2020
On Twitter: ISABELNET @ISABELNET_SA: "This chart highlights the rise and fall of the US dollar since 1967. https://isabelnet.com/?s=dollar": chart.
Donald Trump Is Seen Golfing As JoeBiden Is Named President-Elect & TwitterErupts With Hilarious Memes - Hollywood Life.
On Twitter: Donald J. Trump @realDonaldTrump: "THE OBSERVERS WERE NOT ALLOWED INTO THE COUNTING ROOMS. I WON THE ELECTION, GOT 71,000,000 LEGAL VOTES. BAD THINGS HAPPENED WHICH OUR OBSERVERS WERE NOT ALLOWED TO SEE. NEVER HAPPENED BEFORE. MILLIONS OF MAIL-IN BALLOTS WERE SENT TO PEOPLE WHO NEVER ASKED FOR THEM!"
On Twitter: Donald J. Trump @realDonaldTrump: "I WON THIS ELECTION, BY A LOT!"
Biden Wins Presidency, According To AP, Edging Trump In Turbulent Race - NPR.
The coronavirus cases in Europe and the US are rising at such a high rate that everybody could be exposed by the time vaccines are available.
When Trump leaves the White House will he replace the genuine antiques with fake imitations? Previous presidents have probably already looted the place. Politicians have no morals.
On Twitter: Gary Kaltbaum @GaryKaltbaum: "Sorry to harsh your buzz but both parties, no matter who is prez, are taking us to 30,40,50 trillion of #debt. All failures. Trump took championship belt away from Obama. We now see what Biden does. I will be contacting him to tell him our number 1 crisis is debt. Not climate."
On financial television channels people are talking about economic and stock market recovery as if there is no problem. How long will it take for the massive US debt to blow up, into default, or further money supply increases like the present 24% per year? US total debt (blue) is growing faster than M3 money supply (red). Debt increased by $7.4 trillion in Q2 over a year. Debt growth did slow down during the Great Recession of 2009. The fastest debt growth recently was government (green). Government could take over debt, and then print the money to pay for it, but government's efforts are far away from total debt levels.
Friday 6 Nov 2020
The S&P 500 Q3 earnings declined is -7.5%: FactSet. That must be measured against the increase in money supply.
On Twitter: Jim Cramer @jimcramer: "Aurora Cannabis 116 million shares outstanding, but 457,854,055 shares traded today. Insane!!"
Trump shrinks Arizona gap to 30K votes with 173K left to count: Secretary - New York Post. Late counting of Trump ballots.
Courts are making random judgements over delayed counting of mail-in ballots:
.... From 28 Oct 2020: Mail Voting Litigation in 2020, Part II: Submission of Mail-In Ballots - Lawfare. "In recent months, voters have brought a wave of challenges to mail-in ballot submission deadlines and restrictions that they believe infringe on the public’s right to vote. Plaintiffs have, thus far, seen largely negative results. Even where plaintiffs have won preliminary injunctions at the lower court level, the appellate courts—in both state and federal contexts—have typically reversed rulings that would have extended ballot deadlines and relaxed limitations on voter assistance."
.... From 27 Oct 2020: Supreme Court declines to extend time period for counting Wisconsin mail-in votes - Jurist.
.... From 19 Oct 2020: Supreme Court Rules Pennsylvania Can Count Ballots Received After Election Day - NPR.
The US state of Georgia couldn't make up its mind: Donald Trump 2 447 343 votes, Joe Biden 2 445 568 votes with 99% of votes counted. Also Pennsylvania: Donald Trump 3 285 239 votes, Joe Biden 3 262 850 votes (0.69% difference) with 95% of votes counted.
An incumbent president has a major advantage over opponents, simply because the public knows him better. This is why there are term limits, and why in third world countries a president remains popular for decades. People vote for the person they know (and who hands out government benefits). You have to irritate a lot of people to be voted out. All Trump had to do during his first term was keep a low profile. Hues Corporation - Rock the Boat - Youtube.
Stock market investors think positive growth numbers mean a business is growing, and therefore the stock should trade at a high multiple. If growth is below (actual) inflation, the business is shrinking. If real sales is declining, dividend yield needs to be well above inflation.
ViacomCBS Boosts Forecast for U.S. Paid Streaming Subscribers - The Hollywood Reporter.
Study suggests most humans are vulnerable to type 2 diabetes - MedicalXpress.
Raspberry Pi brings out mini-computer in keyboard - Popular Mechanics SA.
US jobs have recovered (blue) to 68.8% of the working age population. The total debt per worker (red) will drop when data is updated to about $560,000.
Thursday 5 Nov 2020
On Twitter: Peter Schiff @PeterSchiff: "During the campaign @realDonaldTrump warned that if @JoeBiden won the stock market would crash. Well Biden won and the stock market soared. This shows that the bull market has nothing to do with Trump or any of his policies. It's a bubble of the Fed, by the Fed and for the Fed."
DOJ seeks to block Visa’s $5.3 billion acquisition of start-up Plaid over antitrust concerns - CNBC. Finally a government performing one of its primary functions.
Election 2020: Judge hands Trump legal win in Pennsylvania vote count - NY Post. Poll workers are paid a nominal amount, and usually ordinary people. To suggest they would cheat is ridiculous. 5 election jobs that might be just the ticket for you - Monster. "Since the pay is low and the hours are long, you need to be passionate about the cause, says Charlson. “[Poll workers] are truly dedicated public servants,” she says".
On Twitter: Planet Ponzi @PlanetPonzi: "Too much debt, credit, and leverage will have unexpected consequences that will destroy our country. Debt monetization or MMT (modern monetary theory, aka magic money tree) is insanity. The West has learned nothing from the 2008 credit crisis or Japan's 4 lost decades. Wake up!" chart.
Armed Trump supporters attempt to storm Arizona election polls - Metro.uk. They should have used a Trojan horse.
Trump's huge vote total breaks my heart. I recognize this America and I wish I did not. - USA Today.
People are waiting in anticipation to see if the Trump TV show will end with tanks rolling into Washington for a military coup. Roll credits, and action.
If you borrow money to build a factory, the sales generated in a year could be less than the debt, in which case debt to GDP (Gross Domestic Product) would be bigger than one. The FRED chart below shows Non-financial Corporate Debt is only 31% of GDP in Q1 2020 (red). Total US debt to GDP has shot back up 4.1x in Q2 (blue). Most debt is not being used by business to generate economic output.
Wednesday 4 Nov 2020
Sales of New Cars & Trucks Through October Fell by 2.4 Million Vehicles, to 1985 Levels. Back to the Future - Wolf Street.
On Twitter: SentimenTrader @sentimentrader: "The S&P 500 closed up more than 2%. On the NYSE, there was more volume in declining securities than advancing ones. That's never happened before."
19:20 GMT: According to the Associated Press, Joe Biden now has 248 electoral college votes. He needs another 22 votes to win. According to their map the light blue states where he leads is NV 6 and MI 16 = 22. Trumps needs another 56 votes. He leads in PA 20, NC 15, GA 16 and AK 3 = 54.
Don’t Overlook This: Global Economy Heading For A Lot Of Trouble - Talk Markets. "In 2018, 42.9% of all sales by S&P 500 companies came from outside of the U.S."
Several Donald Trump tweets have now been marked as disputed and possibly misleading:
... 7:01pm: "They are working hard to make up 500,000 vote advantage in Pennsylvania disappear — ASAP. Likewise, Michigan and others!"
... 5:04pm: "Last night I was leading, often solidly, in many key States, in almost all instances Democrat run & controlled. Then, one by one, they started to magically disappear as surprise ballot dumps were counted. VERY STRANGE, and the “pollsters” got it completely & historically wrong!"
... 7:49am: "We are up BIG, but they are trying to STEAL the Election. We will never let them do it. Votes cannot be cast after the Polls are closed!"
Can Trump legally dispute results? What divided government means for taxes, stimulus - Kitco News.
It is surprisingly difficult to find the answer to a simple question on the internet: If vote counting in the US presidential election stopped now (1pm Martian time) who would win? According to the Associated Press, Joe Biden has 238 electoral college votes. He needs another 32 votes to win. According to their map the light blue states, where he leads is NV 6 and WI 10 = 16. Trumps needs another 57 votes. He leads in MI 16, PA 20, NC 15, GA 16 and AK 3 = 70.
US election latest: Trump vows to go to Supreme Court over 'fraud' - Nikkei Asia. "We'll be going to the U.S. Supreme Court. We want all voting to stop. We don't want them to find any ballots at 4 a.m. in the morning and add them to the list."
On Twitter: Lance Roberts @LanceRoberts: "Be careful how you #invest. The number of firms with #negative #equity is near a peak. While #fundamentals don't seem to matter in a liquidity-fueled market, eventually, they do." chart.
The US stock market is moving up in a short term triangle. Long term it is heading down within a megaphone pattern.
In 2016 in Florida, Trump won 48.6% of the vote (4.618M), against Hillary Clinton's 47.4% (4.505M). With 98% of votes counted, Trump has 51.3% (5.633M), against Joe Biden 47.8% (5.251M). A lot more people voted, without making any difference.
US Debt By President - Self.inc.
On Twitter: Forbes @Forbes: "The AP called Arizona for Biden at 2:51 a.m., making him the first Democrat to win the once-reliably Republican state since Bill Clinton won it in 1996 http://bit.ly/34RwvJs"
06:00 GMT: Donald J. Trump @realDonaldTrump: "I will be making a statement tonight. A big WIN!"
Lady Gaga's Dad Shows His Support for Trump After President Makes Disparaging Comments About Singer - People.
From 26 Oct 2020: What You May Not Know About Oats! - Youtube.
Tuesday 3 Nov 2020
All the celebrities considering leaving the country if Trump is re-elected - PageSix. Living in an over-indebted country is like working for Enron. After people have lived in luxury on debt, follows the suffering when they have to pay for it.
Jack Ma's Ant Group: World's biggest market debut suspended - BBC.
US cruise lines cancel sailings through at least end of 2020 - CNN.
Media coverage of the US presidential election lacks factual information. Did Trump border policies make a difference to illegal immigration? Unauthorized immigration declined before Trump: U.S. Unauthorized Immigrant Total Dips to Lowest Level in a Decade - Pew Research. What happened after 2016?
The number of immigrants (legal and illegal?) increased up to 2018: U.S. Immigrant Population and Share over Time, 1850-Present - MPI.
From 13 March 2018: Immigration Under Trump: By the Numbers- US News.
Monday 2 Nov 2020
"Baby Shark" Swims Past "Despacito" to Become Most-Viewed YouTube Video of All-Time - Hollywood Reporter.
On Twitter: Ronna McDaniel @GOPChairwoman: "Fantastic crowd in Kenosha for @realDonaldTrump – with huge numbers of Democrats, Independents, and people who have still not voted:
51% (!!) NOT Republican
44.9% still have not voted" So, 55% have already voted, and are just there to spread disease?
"25.4% did not vote in 2016
Thank you, Wisconsin!"
From 5 Sep 2020: Kenosha’s unusual economic evolution made it the perfect political flashpoint - Fortune. "A section of the Uptown neighborhood remains in ruins after last week's rioting, on September 1, 2020, in Kenosha, Wisconsin. President Trump came to tour sections of the town burned down from rioting over a police officer's shooting of local resident Jacob Blake, and to thank the police."
Two of state's largest economic development projects in Kenosha county - Kaba.org. Jobs, jobs, jobs.
Federal judge rejects GOP challenge to invalidate nearly 127,000 votes in Democratic-leaning Houston - CNN.
Netflix explains how it avoids outages after a major incident in 2019 - Engadget. It also avoids outages by not broadcasting/streaming anything worth watching.
On Twitter: Jeffrey Kleintop @JeffreyKleintop: "France and Korea. Roughly similar-sized populations." chart.
Trump Leaves Supporters Stranded In Cold Weather After Campaign Rally, Once Again - Forbes. Why do politicians who achieve nothing want to be in office again? Trump thinks he is competing in the Apprentice. The president is supposed to execute the policies of Congress, which is why it is called the executive branch of government.
Friendly's files for bankruptcy and puts itself up for sale - CNN.
People sniffed out an ISM (Institute for Supply Managent) manufacturing new orders survey, based on the question: "How do feel today?" It should be judged against the decline of US manufacturing, providing work to 8.6% of all employees. See that big rise the last four years? That is Trump making America great again.
Manufacturers' New Orders up to August, relative to M2 money in circulation. It was 8% in 1996, and is now 2.5%:
Sunday 1 Nov 2020
Fauci rips White House coronavirus approach - The Hill.
Why two Swiss-led data models predict a Trump win - Swissinfo.ch.
Banks, QE, and Money-Printing - Lyn Alden. The inflation measurement itself is flawed. If people stop buying items that they can no longer afford, it disappears, and you can't measure the inflation rate on it. In March 1947 CPI peaked at 20%, whilst interest rates where about 1%. In the past, interest rates were increased to suppress inflation as happened in 1980, with the interest rate and inflation peaking around 15%. For the last few decades politicians have simply lied about inflation.
Kids are now in school at majority of nation’s biggest districts — just as COVID cases surge - USA Today. Children still use the same education system as 50 years ago, despite enormous technological advances.
The big 23% increase in the US money supply should weaken the dollar, but other countries are also printing more money. The Eurozone has not printed as much money (red), and the € (blue) has strengthened recently.
Commentary to: firstname.lastname@example.org
This website is: www.aandele.co.za/AandeleVSA
Disclaimer: No responsibility is accepted for wrong information, or for losses as a result of any information on this website. The contents should not be regarded as financial advice. Website visitors should consult with their own financial advisors before reacting to information.