Baltic
Dry Index. 1978 -52 Brent Crude 74.71
Spot Gold 2656 US 2 Year Yield 3.63 +0.02
You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government. And, with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.
George Bernard Shaw.
For once we open with other news than stock casino news. Has Marburg virus reached Germany?
Passengers 'suffering from deadly virus with no cure' spark lockdown of rail station
2
October 2024
Police
have swarmed a railway station in Germany after passengers showed symptoms of a lethal virus, for which there is no vaccine.
Chaos
erupted as officers cordoned off tracks 7 and 8 at Hamburg Central Station
for several hours this afternoon, sending commuters scrambling for safety.
Emergency
personnel in full protective suits boarded the ICE high-speed train that had
arrived from Frankfurt.
What
sparked the evacuation of the train were two travellers on board, who were
exhibiting symptoms of the Marburg virus, which is in the same family as Ebola.
The
man is said to be a German medical student, aged 26. He and his girlfriend
boarded the train to Hamburg on Wednesday afternoon in Frankfurt.
During
the ride, both developed flu-like symptoms.
What
you need to know about the Marburg virus
Marburg
virus starts like a harmless flu, with a fever, headache and muscle pains.
Within
days, those infected suffer from excessive bleeding, a rash, extreme lethargy
and blood-stained vomit and diarrhoea.
It
kills about half of those it infects, according to data by the World Health Organisation (WHO). In one outbreak, 88%
of those infected died.
The
virus spreads to humans from fruit bats and then through contact with bodily
fluids of infected individuals.
There
are no specific treatments or a vaccine, but a range of blood products, drug
and immune therapies are being developed, according to WHO.
It
is understood that the student had previously arrived by plane from Rwanda,
where six people have died from an outbreak of Marburg and another 20 are
infected.
There
he had contact with a patient who the doctors later diagnosed as being infected
with the virus, which has a fatality rate of up to 88%.
It
remains unclear whether the pair have indeed been infected with
the Marburg virus, fire department spokesperson Christian Wolte said.
Both
the student and his girlfriend were transported to the University Hospital
Eppendorf (UKE) in a specialised infectious disease ambulance operated by the
Hamburg Fire Department, Bild reported.
According
to the website, there were around 200 passengers on board the train with the
two passengers.
‘We
now have to find out whether they could have become infected in such a short
space of time,’ said Hamburg’s fire department spokesperson.
The
operation was terminated at around 5pm, and the station finally reopened.
Days
after Rwanda announced an outbreak of the Marburg virus, authorities have
introduced a set of measures on gatherings to control the spread.
As
of now, the majority of victims have been health workers in the intensive care
unit.
The
country’s health minister Sabin Nsanzimana said last week: ‘We are counting 20
people who are infected, and six who have already passed away due to this
virus.
‘The
large majority of cases and deaths are among healthcare workers, mainly in the
intensive care unit.’
Passengers 'suffering from deadly virus with no cure' spark lockdown of rail station (msn.com)
Now back to those stock casinos trading in the exosphere. Buy more say Wall Street’s perma-bull hacks.
Hong
Kong stocks fall as stimulus rally fizzles; Japan’s Nikkei leads gains in Asia
Published
Wed, Oct 2 2024 7:57 PM EDT
Hong
Kong stocks plunged on Thursday as the China stimulus rally appeared to ease.
The Hang Seng index fell 3%,
coming off a strong session on Wednesday when the index
closed over 6% higher after hitting a 22-month high.
Hang
Seng Mainland Properties Index briefly sank more than 10%, dragged down
by Longfor Group Holdings losing
12.8% and New World
Development falling 10%. Hang Seng Tech Index fell
over 6%.
Markets
in mainland China remain closed until Oct. 8. Chinese stocks had been on a tear
after authorities announced a slew of support measures last week.
Beijing
is widely anticipated to unleash more fiscal policies and support measures in
the coming months, but “the eventual scale and content of the fiscal package
might be quite improvised and uncertain,” Ting Lu, chief China economist at
Nomura said in a note, adding that investors should exercise “more sober
assessment” amid the recent market frenzy.
Elsewhere,
most Asian markets traded higher, with Japan’s Nikkei 225 leading with 2.1%
gains. The broad-based Topix added 1.3%. The uptick came as the yen slid to as
weak as 147.15 against the U.S. dollar, a day after clocking its largest
single-day decline since June 2022.
On
Wednesday, Japan’s new prime minister, Shigeru Ishiba, told reporters economic
conditions don’t currently support another rate hike. Ishiba made his
comments after meeting with Bank of Japan Governor Kazuo Ueda.
Investors
will parse through the busy slate of data out Thursday. Australia’s seasonally adjusted Judo Bank Composite PMI data came
in at 49.6 in September, lower from the 51.7 in August, falling past the 50
neutral mark. The services PMI posted 50.5, down from 52.5 in August.
The
Australian Bureau of Statistics reported the country’s trade surplus came in at 5.64 billion Australian
dollars ($3.87 billion) in August, higher than the AU$5.5 billion estimated in
a Reuters poll but down from AU$6.01 billion in July. Both imported and
exported goods contracted 0.2% from the previous month, the data showed.
Australia’s S&P/ASX 200 jumped
0.25%.
Japan’s
au Jibun bank composite final PMI, which takes into account both manufacturing
and service activities, for September stood at 52.0, signaling a softer
expansion in the private sector compared to 52.9 in August, according to
the private survey conducted by S&P Global Intelligence.
The service sector PMI, compiled from around 400 survey responses, was 53.1 in
September, lower than the 53.7 in August.
Other
data on tap include August retail sales from Hong Kong.
South
Korea were shut Thursday for National Foundation Day. Taiwan markets remain
closed for a second day as Typhoon Krathon approached, bringing strong rain and
heavy winds.
Elsewhere,
Middle East conflicts were in focus this week as markets brace for more
uncertainty in the region. Israel started a ground operation into Lebanon and
conducted more airstrikes, while Iran launched a ballistic missile attack in
retaliation for its recent killing of Hezbollah leader Hassan
Nasrallah.
Overnight
in the U.S., the three major U.S. indexes closed slightly above the
flatline as Middle East tensions weighed. The S&P 500 added just 0.01%
to close at 5,709.54, and the Dow
Jones Industrial Average added roughly 39 points to close at
42,196.52. The Nasdaq
Composite gained 0.08% to 17,925.12.
Asia-Pacific markets: Yen weakens; Hong Kong stimulus rally fades (cnbc.com)
European
markets set for negative open as investors focus on Middle East escalation
Published
Thu, Oct 3 2024 12:42 AM EDT
LONDON
— European stocks are expected to open lower Thursday as conflict in the Middle
East weighs on regional investor sentiment.
The
U.K.’s FTSE index is
seen opening 38 points lower at 8,252, Germany’s DAX down 67 points at
19,097, France’s CAC 40 down
26 at 7,545 and Italy’s FTSE
MIB 153 points lower at 33,414, according to data from IG.
European
stocks closed mixed yesterday as investors assessed the ongoing conflict in the
Middle East and assessed fresh unemployment data in the euro zone that showed
unemployment across the euro zone held steady on the month at a record-low 6.4%
in August.
Israel
attacked central Beirut early Thursday, killing at least six people, as it
pursues Iran-backed armed group Hezbollah. Israel began ground incursions in
Lebanon on Tuesday and the strike on Beirut earlier today comes
after Iran fired roughly 180 ballistic missiles at Israel earlier this
week. Israeli authorities say there were no casualties as a result of the
offensive, and that most of the missiles were intercepted.
European markets: stocks, news, data and earnings (cnbc.com)
Stock
futures inch higher as traders await jobs report due later this week: Live
updates
Updated
Thu, Oct 3 202412:14 AM EDT
Stock
futures edged lower Wednesday night as investors look ahead to September’s
payrolls report due later this week.
Futures
tied to the Dow Jones
Industrial Average lost 44 points, or 0.1%. S&P 500 futures fell
0.14%, while Nasdaq 100
futures dipped 0.27% lower.
In
after-hours trading, denim maker Levi Strauss plunged about
10% after delivering
mixed results for the fiscal third quarter. The company also announced
that it’s considering a sale of its Dockers business, which is dragging down
the overall business.
October
trading is off to a rough start this month as escalating tensions in the Middle
East dampen investors’ enthusiasm. Stocks tumbled on Tuesday after Iran launched
a missile attack on Israel. Investors are preparing for further
uncertainty as Israel starts a ground
operation into Lebanon.
The
three major U.S. indexes ended Wednesday slightly above the flatline. The S&P 500 added just 0.01%,
while the tech-heavy Nasdaq
Composite rose 0.08%. The 30-stock Dow added roughly 39 points,
or 0.09%.
Private
sector hiring was better than expected in September, according to data
from ADP issued Wednesday.
Further
labor market data awaits investors on Thursday, with the release of weekly
initial jobless claims. The main event for traders — and the Federal Reserve as
it has embarked on a rate-cutting cycle — is September’s payrolls report, due
on Friday morning.
“While
the stock market is grappling with a variety of worries—including escalating
tensions in the Middle East, a port strike and election uncertainty — liquidity
is key and there is plenty of it now that the Fed has started to cut interest
rates … that means that markets can continue to grind higher,” said Mary Ann
Bartels, chief investment strategist at Sanctuary Wealth.
“Embrace
October’s volatility, as there is still plenty of fuel left in this bull
market,” she added.
Stock market today: Live updates (cnbc.com)
Finally, yet more EV bad news. Will AI turn into a bust?
Victorian
EV fire sparks warning for Australian drivers
A
potentially deadly blaze in an Australian garage has prompted authorities to
offer advice to EV owners.
September
30, 2024 - 10:45AM
Electric
vehicle owners have been warned to use the correct equipment when charging,
following a potentially deadly blaze in Victoria.
Firefighters
responded to a blaze in Glen Waverley last week, following emergency calls to
triple zero.
They
extinguished a blaze that severely damaged a Nissan Leaf EV as
well as a Genesis luxury sedan.
Two
people and a dog escaped serious injury from the blaze.
The
service’s Fire Investigation Unit combed through debris and “determined the
fire was not caused by the electric vehicle but from a travel adaptor connected
to an aftermarket charging lead”.
The
Nissan Leaf does not include a cable designed for home charging with a
household power point.
Nissan’s
Australian website states that “you may elect to consider a portable charging
(contingency) cable which can be plugged into a standard domestic power point …
This cable is not supplied as standard with your vehicle and is an aftermarket
accessory which can be purchased from your Nissan EV dealer”.
Genuine
EV charging cables can cost more than $500, which pushes some owners to
consider cheaper alternatives from third-party suppliers.
Fire
authorities have urged EV owners to stick to the official cables designed for
use with a particular vehicle, as chargers with incorrect power delivery can
cause damage to the battery or overheating that can lead to fires.
Advice
published by Fire Rescue Victoria states
that people should only use chargers with Australian Standards compliance
marks, and never to use damaged cables, batteries or plugs.
Australian EV charging fire sparks warning | news.com.au — Australia’s leading news site
AI is a massive crash in the making.
That’s
the potential takeaway from Daron Acemoglu, a professor at the Massachusetts
Institute of Technology. As promising as AI may be, there’s little chance it
will live up to Wall Street’s hype hype, he warns. By his calculation, only a
small percentage of all jobs—a mere 5%—is ripe to be taken over, or at least
heavily aided, by AI over the next decade. Good news for workers, true, but
very bad for the companies sinking billions into the technology expecting it to
drive a surge in productivity.
Bloomberg Evening Briefing: JPMorgan Sees a New Dawn for the IPO Market - Bloomberg
In practice [monetary management] is merely a high-sounding euphemism for continuous currency debasement. It consists of constant lying in order to support constant swindling. Instead of automatic currencies based on gold, people are forced to take managed currencies based on guile. Instead of precious metals they hold paper promises whose value falls with every bureaucratic whim. And they are suavely assured that only hopelessly antiquated minds dream of returning to truth and honesty and solvency and gold.
Henry Hazlitt.
Global Inflation/Stagflation/Recession
Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians,
inflation now needs an entire section of its own.
US
new vehicle sales fall in Q3 on fewer selling days, inflationary headwinds
By Nathan Gomes October 1, 20249:54 PM GMT+1
Oct
1 (Reuters) - Top U.S. automakers reported a fall in their third-quarter sales
on Tuesday, hurt by fewer selling days and weaker consumer spending amid
inflationary challenges and higher interest rates.
Carmakers
have relied on crossovers and pickup trucks for years to drive the bulk of
their sales, but that growth is starting to sputter as customers work with
tighter budgets because of economic uncertainties.
General Motors (GM.N), opens new
tab reported
a 2.2% fall in quarterly sales, as demand weakened for some of its big pickup
trucks such as its best-selling Silverado.
Crosstown
rival Ford (F.N),
opens new tab is
expected to post weaker sales growth when it reports third-quarter sales on
Wednesday, according to data from Cox Automotive.
Toyota reported an
8% fall in sales but said it had built extra inventory of vehicles and parts
ahead of the U.S. port strikes, which began earlier in
the day,
to minimize disruption.
Industry
experts expected automakers to rebound with stronger sales in the third quarter
but discounts offered by companies were not enough to invigorate demand.
"Consumers
in the market continue to be pressured by high interest rates and
slow-to-recede vehicle prices, which are translating to high monthly
payments," said Chris Hopson, principal analyst at S&P Global
Mobility.
Chrysler-parent
Stellantis (STLAM.MI), opens
new tab on
Monday cut its 2024
profit forecast and
warned it would burn more cash than expected due to weak global demand and
competition from Chinese rivals offering cheaper cars.
Buyers
are now opting for more affordable models, including compact pickup trucks and
SUVs such as Ford's Maverick and Chevrolet's Trax.
Subcompact
SUVs and compact cars are two of the hottest vehicle segments right now, helped
by their relatively affordable price tags, said Charlie Chesbrough, senior
economist at Cox Automotive.
Hyundai (011760.KS), opens
new tab posted
a 5% rise in quarterly sales, aided by sales of hybrid variants of crossovers
such as its Tucson and Santa Fe. Its sister company Kia (000270.KS), opens
new tab reported
a near 7% decline.
Overall,
U.S. new vehicle sales in September stood at around 1.17 million units, which
represents a seasonally adjusted annual rate of 15.77 million units, according
to data released by Wards Intelligence on Tuesday.
US new vehicle sales fall in Q3 on fewer selling days, inflationary headwinds | Reuters
The history of fiat money is little more than a register of monetary follies and inflations. Our present age merely affords another entry in this dismal register.
Hans F. Sennholz.
Covid-19 Corner
This section will continue until it becomes unneeded.
How COVID-19 Messes Up Your Gut Health
October
1, 2025
When
you reach for a COVID-19 test, it’s probably
because you’ve got a scratchy throat, runny nose, or cough. But those are far
from the only symptoms that make Dr. Rohit Jain, an internal medicine doctor at
PennState Health, suspect the virus.
These
days, when someone complains of nausea, diarrhea, or vomiting, “I always get
a COVID
test on
that patient,” Jain says.
Why?
Despite its reputation as a respiratory virus, SARS-CoV-2 can also have a
profound impact on the gut. Although most people don’t realize it, “COVID-19
really is a GI-tract disease” as well as a respiratory illness, says Dr. Mark
Rupp, chief of infectious diseases at the University of Nebraska Medical
Center.
Here’s
what to know about the gastrointestinal symptoms of COVID-19.
What
are the GI symptoms of COVID-19?
While
some people experience no gastrointestinal symptoms or mild ones, a subset of
COVID-19 patients
have experienced significant digestive symptoms since the
early days of the pandemic.
Loss
of appetite, nausea, vomiting, diarrhea, and stomach pain are common GI
symptoms of COVID-19, according to
Jain’s research.
Some people experience these issues as their first signs of infection, he says,
while others initially experience cold-like symptoms and develop
gastrointestinal issues as their illness progresses.
It’s
not entirely clear why the same virus can affect people so differently, but
it’s good to be aware that SARS-CoV-2 can result in a wide range of symptoms,
Rupp says.
How
long do GI symptoms of COVID-19 last?
Some
patients recover in a matter of days, Jain says, while others may suffer from
diarrhea and other symptoms for weeks.
Still
others may be sick for even longer. Gastrointestinal problems are a common
manifestation of Long COVID, the name for chronic symptoms that follow a case of
COVID-19 and can last indefinitely.
One
recent study in Clinical
Gastroenterology and Hepatology found that, among a small group of
adults who were hospitalized when they had acute COVID-19, more than 40% who
originally experienced GI problems such as stomach pain, nausea, vomiting, or
diarrhea still had at least one a year or more later. Overall, whether they
were hospitalized or not, adults who have had COVID-19 are about 36% more
likely than uninfected people to develop gastrointestinal disorders including
ulcers, pancreatitis, IBS, and acid
reflux, according
to a 2023 study published
in Nature Communications.
More
How COVID-19 Messes Up Your Gut Health (msn.com)
Technology
Update.
With events happening fast in the
development of solar power and graphene, among other things, I’ve added this
section. Updates as they get reported.
Two mines in North Carolina that monopolize
high-purity quartz could face disruptions due to Hurricane Helene
Hurricane damage may threaten critical
semiconductor supply chain link
By Daniel Sims October 1,
2024 at 6:59 AM
Why it matters: The
pandemic demonstrated how supply chain disruptions could impact technology
worldwide. Since then, natural disasters and other events that could affect
crucial regions have drawn increased attention. While the situation in the southeastern
United States following Hurricane Helene continues to develop, observers have
confirmed that an important component of semiconductor production lies in one
of the worst affected areas.
Photos of the destruction
following Hurricane Helene revealed significant damage and potential loss of
life in Spruce Pine, North Carolina. The small mining town hosts the world's only known source of pure quartz, a necessary component for manufacturing computer
chips.
Hurricane Helene unleashed
catastrophic rain, wind, and flooding across several southeastern states. As of
Monday, the death toll has exceeded 130, and around 600 people remain
unaccounted for. Mountainous regions of western North Carolina saw particularly
severe damage, with over 40 confirmed dead amid the state's worst flooding in a
century.
In many areas, including Spruce Pine, flooding has
destroyed buildings, roads, and bridges, isolating towns and stranding
residents. Although the safety of those affected remains the primary concern,
questions have begun swirling regarding the status of two mines in Spruce Pine.
The facilities, owned by Sibelco, extract and
process quartz, which is needed to manufacture the crucibles that companies
like TSMC use to refine silicon wafers. Computers, tablets, smartphones, and
other electronics worldwide contain quartz originating in Spruce Pine. Solar
panels also depend on the material.
Alternative sources exist,
but none exhibit the purity of the quartz from Spruce Pine, which resulted from
the collision of North America and Africa hundreds of millions of years ago. Ed
Conway from Sky News claimed that operational stoppages at Spruce Pine would
significantly disrupt global semiconductor supply chains for a few years as
manufacturers develop other methods of processing quartz.
The status of the mines
remains unclear, as authorities are still assessing the situation. However,
photos and eyewitness descriptions indicate severe flooding in the town. Roads
into the town are narrow, and at least some of them have been flooded and washed
away, complicating efforts to deliver aid and likely disrupting quartz exports.
Hurricane Helene isn't the
first natural disaster of 2024 to generate concern around technology supply
chains. In April, Taiwan suffered a 7.4 magnitude earthquake, causing a brief
pause in TSMC's operations. Such incidents could potentially derail the delicate
process of fabricating semiconductors.
North
Carolina town that produces quartz needed for tech products is devastated by
Helene
Wed 2 October 2024 at 2:48 am BST
SPRUCE PINE, N.C. (AP) — Two
North Carolina facilities that manufacture the high-purity quartz used for
making semiconductors, solar panels and fiber-optic cables have been shut down
by Hurricane Helene with no reopening date in sight.
Sibelco and The Quartz Corp
both shut down operations in the Appalachian town of Spruce Pine on Thursday
ahead of the storm that swept away whole communities in the western part of the
state and across the border in East Tennessee. The town is home to mines that
produce some of the world's highest quality quartz.
With increasing global
demand, Sibelco announced last year that it would invest $200 million to double
capacity at Spruce Pine.
Since the storm, the company
has simply been working to confirm that all of its employees are safe and
accounted for, according to a statement, as some were “unreachable due to
ongoing power outages and communication challenges.”
“Please rest assured that
Sibelco is actively collaborating with government agencies and third-party
rescue and recovery operations to mitigate the impact of this event and to
resume operations as soon as possible,” the company wrote.
The Quartz Corp wrote that
restarting operations is a “second order of priority."
“Our top priority remains the
health and safety of our employees and their families,” the company wrote.
Hurricane
Helene’s Devastation In North Carolina Could Disrupt The World’s Semiconductor
Industry—Here’s Why
Oct 1,
2024,10:20am EDT Updated Oct 1, 2024,
10:49am EDT
Operations
at a quartz mine in western North Carolina have been shut down for more than
five days after Hurricane Helene dumped 2 feet of rain on the town of Spruce
Pine, washing out roads and cutting power to an area with an industry critical
to semiconductor manufacturing across the world.
The
small town of Spruce Pine—home to fewer than 2,500 residents—is the location of
several rare mines that produce ultra-pure quartz for Sibelco North America,
the largest employer in Mitchell County, and The Quartz Corp.
Sibelco
told The News &
Observer this week that operations at its Spruce Pine facility, the
largest in the region, have been halted since Sept. 26, when Hurricane Helene
first made landfall in Florida, and that the town has been hit with “flooding,
power outages, communication disruptions and damage to critical
infrastructure.”
The
Quartz Corp in a
statement on Tuesday said its facilities have also
been closed since last Thursday, and that the company has "no visibility
on when they will restart" as its teams work with local groups to
"try to restore the most basic services and bring further supplies to
Spruce Pine."
Super-pure
quartz, mined and produced at few facilities around the world, is used to
ensure the purity of molten silicon used as the base for manufacturing
semiconductor wafers, as well as for semiconductor crucibles and quartz glass
products like windows, rods, and tubes.
It is
possible to use less pure quartz to create the same materials, but it’s a
slower and more expensive process than using the ultra-high-quality materials
that Spruce Pine has "far and away" the most of, economist Ed
Conway told NPR.
Roads
and rain lines in Mitchell County, North Carolina have been extensively
damaged, The News and Observer reported, which stands to further impact the
companies' ability to transport materials even as the mines are able to reopen.
North Carolina’s
Spruce Pine Quartz Mine Devastated By Hurricane Helene (forbes.com)
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt
Clocks (usdebtclock.org)
In the
absence of the gold standard, there is no way to protect savings from
confiscation through inflation. There is no safe store of value.
Alan
Greenspan.
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