Unemployment, Blame it on Hurricane Sandy

I call Bull$hit !! There is no way all these job losses are due to Hurricane Sandy !!

Unemployment, Blame it on Hurricane Sandy

They’re blaming unemployment on me !!

You may recall my mentioning that when not here, I do weather. I work for a company based out of Maryland and am an ‘Advisor’ on the Severe and ‘Tropical’ board. I along with my colleagues tracked and covered Hurricane Sandy before many in the US even knew she existed. My first broadcast on Sandy was 5:00 AM EDT 10/24/2012 as a Tropical storm and my last was 12:00 PM EDT 10/30/12 as a post tropical storm. I / we know the areas impacted by Sandy. I digress … was the recent layoff / termination of over 18,500+ folks by Hostess due to Hurricane Sandy ?

Hostess Brands is Closed – The wind down means the closure of 33 bakeries, 565 distribution centers, approximately 5,500 delivery routes, 570 bakery outlet stores and the loss of 18,500 jobs.

Hell no it wasn’t !! So shut the FK up blaming the shitty economy on a storm from over a month ago.

Speaking of which Continue reading

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Iran hacked US Banks – Not so fast


In the past my forte albeit a passing [now back to weather>always a passion] was dealing with computer security in the area of malware and viruses and a bit of cracking and dare I say hacking. I will add I was one of the good guys [white hat/grey hat/blue hat] trying to help folks out and keep them safe. I only used my abilities when someone I knew was having trouble or there was some shit going around that was affecting many. I would find the bug, analyze it and share my results with a select few reputable good folks still active today on the intranet.

Just as with other types of snooze, propaganda and disinformation is key to laying blame. Also like other snooze we never get the truth of who did what only the he said they said shit. One of the best uses of this type of disinformation is when sources make a claim and then have ‘no evidence to back the claim’ or they cite ‘unnamed sources’ for fear of exposing them or the real culprits, which 6 out of 10 times turns out to be the unnamed source. Do you understand that ? It’s the old ‘pot calling the kettle black’ routine. Shifting the blame and diverting attention elsewhere, spy vs spy.

Anyway, here are 5 theories on who or what was responsible for the outages. I lean heavily on the fourth due to the fact the person is a security expert and has nothing to gain by spreading disinformation.

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The unexplained outages last week on the public websites of Bank of America and JPMorgan Chase have led to as many as five theories about the source.

The attacks were not catastrophic — the problems at both Bank of America and JPMorgan Chase were relatively brief and intermittent. But Bill Pennington, chief strategy officer at WhiteHat Security, told InformationWeek that last week’s attacks may be only the beginning. “It’s probably going to get worse before it gets better,” he said.

Still, much of the buzz was about trying to figure out where they came from. Sen. Joseph Lieberman (I-Conn), chairman of the Senate Homeland Security Committee, offered Theory One last week in an interview on C-SPAN’s Newsmakers, saying he believes a unit of Iran’s Revolutionary Guard Corps was behind the disruptions.

Lieberman gave no evidence to support the claim, and Iran denied it, claiming the U.S. was trying to “demonize” Iran, but there is certainly motive. As Bloomberg and other outlets reported, the U.S. has been leading the imposition of economic sanctions on Iran, trying to slow or stop its capability to build a nuclear weapon.

There is also the admission by U.S. officials several months ago that the U.S. was involved with Israel in efforts to sabotage Iran’s nuclear program with a computer worm labeled Stuxnet. The malware temporarily took out nearly 1,000 of the 5,000 centrifuges Iran had spinning at the time to purify uranium.

The Washington Post, citing unnamed U.S. intelligence and industry officials, reported last month, “Iranian cyberforces attempted to disrupt the Web sites of oil companies in the Middle East by routing their efforts through major U.S. telecommunications companies, including AT&T and Level 3.”

“The effort did not cause serious disruptions, but it was the largest attempted denial-of-service attack against AT&T ‘by an order of magnitude,’ said one of the industry officials,” the Post reported.

The second theory comes from a message on Pastebin claiming to be from “cyber fighters of Izz ad-din Al qassam” — the military wing of Hamas, the Islamic party that governs the Gaza Strip — declaring that it would attack Bank of America and the New York Stock Exchange (NYSE) as a first step in a campaign against “American-Zionist Capitalists,” and that the “attack will continue until the Erasing of that nasty movie” — a reference to a trailer of the independent film “Innocence of Muslims,” which Muslims say insults the prophet Mohammed.

The third theory is based on a fraud alert issued last week by the FBI, warning financial services firms that cybercriminals might try to disrupt their websites in an effort to distract them from noticing fraudulent wire transfers.

Two days after that alert, The Financial Services Information Sharing and Analysis Center (FS-ISAC), a group owned by dozens of large firms including Bank of America and JPMorgan Chase, raised the cyber threat level to “high” from “elevated” in an advisory to members.

The fourth theory says it was not an attack at all. WhiteHat’s Bill Pennington, noting the recent outage at GoDaddy that was caused by an internal technical error, said it was possible that the multiple slowdowns and outages were simply a coincidence. That theory gains a bit of weight from the fact that there was no perceptible problem with the NYSE — one of the declared targets of the Hamas group.

Jason Healey of the Atlantic Council, shares a fifth theory: That they might have been “simply a low-level attack in their own right, intended only to be disruptive to the websites themselves, and not to provide cover for other attacks,” said Healey, a former security official at the White House and at Goldman Sachs.

“This is frankly common, with attacks by anti-capitalist groups, especially if there happens to be an IMF (International Monetary Fund), WEF (World Economic Forum), G7 or other conference,” he said.

source – csoonline.com
 

The economy is stalling … No Shit Sherlock

Yet they still refuse to use the ‘D’ word .. Depression, which is what we’ve seen the past 4 years. They refuse to use ‘depression’ because they know the psychological effect it would have on the minds of the world.

via businessweek

FedEx Corp. says the global economy is stalling, and it’s going to get worse next year. FedEx’s forecasts are closely watched for signals of future economic health. CEO Fred Smith suggested trade has slowed to levels seen during the last two significant economic downturns.

Several countries in Europe are in recession and the U.S. is struggling with high unemployment and weaker manufacturing growth. And Smith said some experts have underestimated the severity of the slowdown in exports from China. Bigger rival UPS said in July that it expects the global economy to get worse before it gets better.

Economic growth around the globe has slowed over the last several months. Output has declined in Japan, China and elsewhere in Asia. U.S. industrial production last month fell by the largest amount in more than three years, as factories produced fewer cars, pieces of furniture and other goods. Meanwhile rising gas prices and high unemployment kept consumers from spending freely.

Smith said a continued slowdown in the developed world combined with high fuel prices will keep trade volumes trailing growth in the world’s economies, mimicking a trend seen in the last two recessions.

 

Draghi and Bernanke’s Worst Nightmares Are About to Unfold

Ben Bernanke and Mario Draghi must be absolutely terrified

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These two men, in the last two weeks, have both initiated open-ended bond buying programs. The purpose of these programs, aside from keeping insolvent banks in business, was to scare the markets into believing that no matter what happens, the Central Banks will be able to step in and support the financial system.

From a philosophical standpoint, this was Draghi’s and Bernanke’s “all in” moment. I won’t say they they’ve gone “nuclear,” as they have yet to truly monetize everything, but they’re not far from that.

And they’ve both failed.

Spain, which I’ve been warning will bring about the break-up of the Euro, saw the yields on its ten-year bonds break back above 6% yesterday. This is absolutely extraordinary. It indicates that within two weeks of the ECB announcing it’s going to do an “unlimited” bond purchasing plan, Spanish bonds are once again imploding.

Indeed, if you analyze the Spanish ten-year yield chart from a technical analysis perspective, you’d say that it’s bounce off former resistance (indicating that it’s now support) and is ready for the next leg up (north of 7% again).

This is Game Over for the ECB.

The EBC cannot announce an even larger program now as that would completely destroy its credibility in the markets.

Congratulations Mario Draghi, the markets were intimidated by your promise of unlimited bond buying for a total of less than two weeks.

On the other side of the pond, Ben Bernanke is rapidly approaching his own Game Over moment.

The US Federal Reserve bought roughly three quarters of all Treasury issuance last year. Let that sink in for a moment. Roughly $0.74 out of every $1 in debt created by the US in 2011 was bought by the US Fed… not by the bond market, not by foreign countries, but by our own Central Bank.

Despite this massive intervention, the US economy (according to the ECRI) has officially re-entered a recession. This is why the Fed announced QE 3 now, because Bernanke is growing truly desperate, both in terms of losing control of the markets and the potential of losing his job if Mitt Romney is elected President.

So the Fed chose to monetize Mortgage Backed Securities this time around. And the result is that the US Treasury market is tanking. If it takes out its trendline, things will get very ugly very fast.

Here’s a thought… what happens if the Treasury market begins to implode despite the Fed buying roughly 75% of all Treasury issuance?

GAME OVER for Bernanke and the Fed.

The only option left would be to monetize everything, which would mean hyperinflation (all hyperinflationary episodes have been created by monetization of deficits… you can pull this off until you lose credibility… at which point you suffer a currency crisis).

Congratulations Ben Bernanke, you’ve managed to screw up the capital markets so badly that the US is on the verge of its own European-style debt crisis… despite you taking over the entire interbank money-market and nearly all US Treasury issuance.

Folks, this is the reality we’re dealing with. The ECB and Fed have gone “all in” in their efforts to stop the debt implosion… and they’ve failed. All they’ve done is unleashed an even more serious inflationary storm than the one we were already facing.

The time to start preparing is now. The printers are running. The Great Currency Debasement has begun. Some folks will walk out of this mess winners. Most will walk out as losers.

At Phoenix Capital Research, we’re taking steps to insure our clients are among the winners. We are currently preparing a Special Portfolio of unique inflation hedges: investments that will not only maintain their purchasing power but will outperform even Gold and Silver as the Fed and ECB debase their respective fiat currencies.

We also feature a special report devoted to inflation as well as which investments will perform best during periods of high inflation (periods like the one we’re entering).

All of this is available 100% FREE at www.gainspainscapital.com

Best Regards,

Phoenix Capital Research