Baltic Dry Index. 568 Unch. Brent Crude 56.83
LIR Gold Target in 2019: $30,000. Revised due to QE programs.
You can't keep blaming yourself. Just blame yourself once, and move on.
The Fedsters. With apologies to a real worker Homer Simpson.
For more on modern Grate Britain, scroll down to Crooks Corner and an
update on Lincolnshire’s Police.
We open today with the Great Global Economic Wobble intensifying. Is the
Great Reconnect between the new central bankster stock market bubbles and
reality, now underway? A spectacular stock market crash lies ahead if it is,
followed by an oil and commodities crash. Expect the Baltic Dry Index to make
new lows. Expect retail sales to plunge in Europe and America.
Below, the global economy at the precipice. Print more! Print more!
If
they think I'm going to stop at that stop sign, they're sadly mistaken!
The
Washington talking chair. With apologies.
The blistering pace of dollar’s rally is rattling markets
Published: Mar 10, 2015 2:07 p.m. ET
White House fretting about ‘headwinds’
NEW YORK (MarketWatch) — It’s
probably not the dollar’s unrelenting march higher that is unsettling U.S.
stock investors, but it might be the speed of the rally.
“I think what people are
concerned about is the pace of the dollar strength,” Douglas Borthwick,
managing director at Chapdelaine Foreign Exchange, in a phone interview, on
Tuesday.
“Countries can always adapt to
currencies strengthening or weakening, but certainly as the dollar strengthens
very, very quickly it leaves very little chance for others to adapt,” he said.
On a trade-weighted basis, the
dollar remains far from its highs in the mid-1980s and early 2000s, but the
pace of the rise over the past half year is the second fastest in the last 40
years, noted David Woo, forex strategist at Bank of America Merrill Lynch, in a
note (see chart below).
The ICE dollar index DXY, +0.03% , a measure of the U.S. unit against a basket of six major rivals, is up 9% since the end of last year alone to trade at its highest level since late 2003. U.S. stocks dipped significantly, leaving the S&P 500 SPX, -1.70% down 0.9% and within a whisker of erasing its 2015 gain after clawing back some of its earlier decline.
The long-term correlation between the direction of the dollar and the S&P 500 is near zero, analysts note. But there have been periods when the dollar and stocks marched either in lock step or in opposite directions for significant periods.
In the end, it all seems to come down to context. If the dollar rises because investors are confident about the future of the economy, then stocks can rise, too, as was the case in the late 1990s.
If the dollar is rising because investors are frightened and scrambling for safety, then it is no surprise that stocks and other assets perceived as risky tend to suffer, such as during the 2008 financial crisis. See: The reason a strong dollar is hurting stocks right now.
More
http://www.marketwatch.com/story/the-blistering-pace-of-dollars-rally-is-rattling-markets-2015-03-10
Asian Stocks Track U.S. Drop After Dollar Gains on Rate Concerns
12:11 AM GMT March 11, 2015
(Bloomberg) -- Asian stocks fell,
following a slump in U.S. equities, after the dollar gained amid speculation
the Federal Reserve is moving closer to raising interest rates.
The MSCI Asia Pacific Index
retreated 0.4 percent to 142.17 as of 9:02 a.m. in Tokyo, with materials
companies leading declines as all 10 industry groups fell. The Standard &
Poor’s 500 Index slipped 1.7 percent on Tuesday, the biggest drop in two
months, as the dollar surged to near a 12-year high versus the euro. China
releases data from retail sales to factory output today.
“Rates are moving soon,” said
Evan Lucas, Melbourne-based market strategist at IG Ltd., a provider of trading
services in equities, currencies and commodities. “The jobs report on Friday
has awoken the currency markets to this fact and the equity market is now
feeling the early effects of what to come.”
Federal Reserve Bank of Dallas
President Richard Fisher said the central bank should begin to raise rates as
the labor market improves. While policy makers from Sydney to Frankfurt are
moving toward looser monetary policy, the Fed stands out in accepting a higher
exchange rate as a sign of economic strength.
More
Chinese Factory Data Shows Weakest Start in Six Years
5:41 AM GMT March 11,
2015
(Bloomberg) -- China’s industrial
output, investment and retail sales growth missed analysts’ estimates in
January and February, suggesting more stimulus may be needed to boost the
world’s second-largest economy.
Factory production rose 6.8
percent in the two-month period from a year earlier, the National Bureau of
Statistics said in Beijing Wednesday, compared with the median projection for
7.7 percent in a Bloomberg survey. Retail sales advanced 10.7 percent, while
fixed-asset investment increased 13.9 percent.
Premier Li Keqiang last week set
the nation’s 2015 expansion target at about 7 percent, the slowest in more than
15 years, as China’s leaders grapple with the debt, pollution and corruption
spurred in a three-decade-long economic boom. The central bank has sought to
cushion the slowdown with two interest rate cuts and one reduction to banks’
reserve requirements in the past four months.
“With January-February data
revealing weakening economic momentum and mounting deflationary pressure,
policy easing has been hastened,” Wang Tao, chief China economist at UBS Group
AG in Hong Kong, wrote in a research note before the data release.
China combines data for
industrial output, retail sales and fixed-asset investment for January and
February due to distortions from the weeklong Lunar New Year holiday, which has
different timings. This year, the holiday started Feb. 18.
More
Global markets sell-off as the world drowns in oil
An upgrade to US oil production and Opec holding firm on output sends the oil price and global markets tumbling
Global financial markets have
taken fright at yet more signs that the hammered oil price will not make a
swift recovery.
The markets reacted to the US
revising its crude oil production upwards for 2015 and signs that the
Organization of Petroleum Exporting Countries will maintain production at
current levels.
The commodity–heavy FTSE 100
dropped 173.63 points – or 2.5pc – to 6,702.84, wiping almost £47bn off the
value of the country's biggest companies.
It meant the UK's bluechip index,
dragged down by oil producers and mining companies, recorded its worst falls of
the year.
Brent crude, the benchmark made
of oil from 15 North Sea fields against which almost half the world's petroleum
is priced, was down by $1.86 (£1.23) per barrel, or 3.3pc, to $56.7.
West Texas Intermediate, another
major benchmark for the US oil market, also slumped back below $50 per barrel,
to $48.7 per barrel.
The US Energy Information Agency
said on Tuesday it expects total oil production in 2015 to be 9.35m barrels per
day, slightly higher than the 9.3 million bpd in last month's short-term energy
outlook.
The Organization of Petroleum
Exporting Countries is now expected to hold firm on oil production policy at
its next meeting in June unless non-OPEC members agree to reduce output,
according to Abdullah bin Hamad al-Attiyah, Qatar's former minister of energy
and industry, said at the Doha Energy Forum.
More
If
you really want something in this life you have to work for it. Now quiet,
they're about to announce the lottery numbers.
Mario
Draghi, with apologies.
At the Comex silver
depositories Tuesday final figures were: Registered 68.86 Moz, Eligible 108.58
Moz, Total 177.33 Moz.
Crooks and Scoundrels Corner
The bent, the seriously bent, and the totally
doubled over.
“But
I don’t want to go among mad people," Sophie remarked.
"Oh,
you can’t help that," said the Lincolnshire policeman: "we’re all mad
here. I’m mad. You’re mad."
"How
do you know I’m mad?" said 4 year old Sophie.
"You
must be," said the dumb policeman, "or you wouldn’t have come to
Lincolnshire.”
With
apologies to Lewis Carroll, Alice in
Wonderland
Police warn four-year-old girl for riding on the pavement
'Daft' officer made her get off and threatened to confiscate her bike
A police officer threatened to
confiscate a four-year-old's bike because she was riding on the pavement.
Sophie Lindley, who uses
stabilisers, was cycling with her father, Dale, when an officer pulled up and
told her she had to get off as she was breaking the law.
She was left in floods of tears
and had to be carried to school.
Mr Lindley, 35, said he was astonished,
branding the policeman "daft"
He told the BBC: "We stopped
to look at some ducks when the officer pulled over and said she had to get off.
"He said 'The law is the
law' and she was not allowed to ride on the path.
"He said 'If I catch you put
her on her bike further up the road I will turn around and confiscate the
bike'.
"I couldn't believe
it."
Sophie's mother, Emma Stephenson,
34, said she understood it was illegal to ride on the pavement.
But she added: "You can’t
expect a four-year-old to ride in the road, it’s not exactly safe. And she has
the lead and wears a helmet.
"The most unbelievable thing
is they were going to confiscate the bike."
The family does not have a car
and regularly let Sophie cycle the two mile journey from their home to school
in Grantham, Lincs.
Although cycling on pavements is
illegal, officers are expected to use discretion with young children.
Lincolnshire Police apologised
and said: "Safety is our priority and cycling on the pavement is illegal.
"However, common sense
obviously prevails and in the case of young children officers should use their
discretion and offer the most appropriate advice for the circumstances."
Roger Geffen, of national charity
Cyclists' Touring Club, said the officer was "wrong".
"The police officer has
forgotten that children under the age of 10 are below the criminal age of
responsibility so they can't break laws and can technically ride on the
pavement," he said.
"Everyone lets their
children ride on the pavement. It is perfectly normal and not criminal."
http://www.telegraph.co.uk/news/picturegalleries/howaboutthat/11460844/Police-warn-four-year-old-girl-for-riding-on-the-pavement.html
Below, Lincolnshire Police. Putting the Grate into Great Britain. Less
PRIDE more common sense needed.
Lincolnshire Police. “policing with PRIDE.”
Chief Constable
Neil Rhodes took up his role as
Chief Constable of Lincolnshire, marking the culmination of his police career
which began when he joined Lincolnshire in 1986. Neil was born and brought up
in Barnsley, South Yorkshire, in a family with a mining and steel working
background. He left school aged 16, with a handful of ‘O’ levels and worked for
South Yorkshire County Council in an office based job. He spent a year
travelling and working abroad before joining Lincolnshire.
During 15 years with Lincolnshire
Police he progressed from Constable to Superintendent, working across the county
as a patrol officer, a detective and in roads policing before joining Her
Majesty’s Inspectorate of Constabulary at superintendent rank.
---- During the course of his police career he has improved his educational qualifications. In addition to the normal police examinations, he has a law degree (University of London) and a Masters degree in criminology (University of Cambridge).
Nationally, he holds the
performance and courts portfolios in the ACPO Criminal Justice Business Area
and the Crime Information portfolio in the Performance Management Business
Area, being the ACPO lead for the countrywide adoption of Crime Mapper.
More
“My
dear, here in Lincolnshire we must run
as fast as we can, just to stay in place. And if you wish to go anywhere you
must run twice as fast as that.”
Chief
Constable Neil Rhodes. With apologies to Lewis Carroll.
The monthly Coppock Indicators finished February
DJIA: +120 Down. NASDAQ: +213 Down. SP500: +169 Down.
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