3 smart money moves to consider making in 2017
Here are three financial resolutions to make — and how to make them happen. …read more
Source: 3 smart money moves to consider making in 2017
Archive for the ‘Uncategorized’ Category
Los Angeles Politician’s Proposal Would Punish Adults Who Don’t Have Kids
By Tyler Durden
Submitted by Carey Wedler via TheAntiMedia.org,
A Los Angeles city councilman provoked harsh criticism this week when he proposed a new city motion to ban single adults from parks and playgrounds.
As local outlet KTLA reports:
“If you are in a playground without a child and you’re not a guardian, you’re not allowed there.”
This proposed ban, introduced by L.A. city council member Mitch O’Farrell, would apply to individuals who go to the park to exercise. KTLA reporter Christina Pascucci, who filmed her story at a local park, motions to a man exercising near the edge the playground, explaining that “according to this new motion, that would not be allowed because he is not with any kids.”
Pascucci describes the details of the proposed policy:
“How is a playground area defined? Play areas and city parks are delineated by a perimeter, whether it’s sand, shrubs, a gate or a fence, and these areas would be clearly marked with signage stating the limited access — and you could be ticketed if you’re within that area.”
O’Farrell claims his motion is intended to address complaints from his Hollywood constituents that individuals are selling drugs in public parks, which endangers children.
The ban is rooted in precedents set by other major cities, including New York, where “police caused a minor uproar several years ago by ticketing people for sitting on playground-adjacent benches to eat donuts or play chess,” a Los Angeles Times op-ed on O’Farrell’s proposition notes.
Even as the Times acknowledges that measures must be taken to deal with illicit activity, the Editorial Board argues:
“But if drug dealing or vandalism is occurring at a site, then have police or park rangers patrol it regularly. If there is a childless adult hanging around, leering at kids or taking photographs, then enforce the state law that already makes it a criminal offense to loiter at a playground or school with an unlawful purpose.”
Indeed, loitering laws are already in place to prevent illegal activity around children, making it unclear how additional rules will bolster security.
L.A. residents at the park where KTLA reported the story rejected the new proposed regulations. Michael Paris, a single man, said:
“I don’t have kids yet…for the time being, I have my dog only. So if you’re going to kick me out of the park close to a playground, that to me is not fair.”
Another resident, Danielle Carrig, commented on the difficulty of enforcing a rule like O’Farrell’s. “Who’s gonna come by and look at adults over by the park and say, ‘Do you have children? And if you don’t you can’t be here,’” she wondered.
“I think we just have to be a better neighborhood and a better community together.”
Another local also advocated solutions within the neighborhood. “The point for me would be making the community more vigilant,” Patsy Cox observed.
KTLA reported that they couldn’t find anyone at the park who supported the motion, though others tweeted messages of support. One argued that because adults have segregated spaces where children …read more
Source: Los Angeles Politician’s Proposal Would Punish Adults Who Don’t Have Kids
Apple To Cut iPhone Production By 10% In The First Quarter Of 2017: Nikkei
By Tyler Durden
If there is one company that wishes 2016 could be as quickly as possible put away in the history books, it was Apple: with the Apple watch now a confirmed dud, the iPhone 7 a bust relative to Apple’s other offerings, demand for Apple’s once brilliant creations waning, and the first recorded declines in both iPhone sales and earnings, 2016 was a year Tim Cook would love to never repeat. Alas, according to Japan’s Nikkei, 2017 is set to begin with a whimper, not a bang, as Apple will trim production of its iPhones by at least 10% in the first quarter of 2017.
The latest disappointing news comes after the company slashed output in January-March 2016 due to accumulated inventory of the iPhone 6s line at the end of 2015. That experience led Apple to curb production of the iPhone 7, introduced in September, by around 20%. But the phones still have sold more sluggishly than expected. Information on production of the latest models and global sales suggests cuts in both the 7 and 7 Plus lines in the coming quarter.
The larger iPhone 7 Plus, which features two cameras on its back face, remains popular. But a shortage of camera sensors has curbed Apple’s ability to meet demand for the phones. U.S. research company IDC forecasts global smartphone shipments in 2016 on par with the 2015 level. Even Apple has had difficulty creating appealing new features, stifling demand from customers who otherwise would look to upgrade to the latest device.
The Nikkei notes that while Japanese demand for the iPhone 7 line is strong, thanks in part to the phone’s compatibility with contactless IC chip readers, commonly used for services such as payment. Japan makes up just 10% or so of the global smartphone market, and cannot compensate for sluggishness overall.
Japanese component producers will again feel pain from the coming cuts. But orders from Chinese smartphone makers, as well as growing demand for automobile technology linked to automated driving, will soften the blow. A source at a major parts producer called Apple’s production cut “within expectations,” saying the company has reduced the role Apple plays in its overall business.
For those expecting the same pace of growth out of Apple they have been used to for the past few years, that last statement is the last thing they wanted to hear.
Source: Apple To Cut iPhone Production By 10% In The First Quarter Of 2017: Nikkei
Time To Buy US Treasury Bonds? Gold? Equities?
By Tyler Durden
Submitted by Michael Shedlock via MishTalk.com,
As we head into 2017, how should one be positioned? Let’s explore that idea with a trio of contrarian indicators.
US Treasuries?
The one idea most widely agreed upon is that Trump will spur inflation and treasuries are the last place to be.
This headline says it all.
The other day this was in @USATODAY pic.twitter.com/lgzCyW9BLM
— Peter Atwater (@Peter_Atwater) December 28, 2016
This morning I saw this in @FT pic.twitter.com/OomYsEVvfz
— Peter Atwater (@Peter_Atwater) December 28, 2016
US Equities?
The nearly always wrong Harry Dent threw in the towel on his stock market crash prediction on December 19.
Please consider Economist who Predicted a 17,000-Point Stock-Market Crash Just 10 Days Ago is Suddenly Bullish.
Harry Dent is bullish.
Dent, an economist and one of the biggest doubters of the stock market’s rise since the end of the recession, said he no longer believes a crash is imminent for the market after persistently calling for a massive drop over the past seven years.
What changed the mind of the man who said that the market would be “cut in half” in 2011, called for a “year and a half” long crash in 2013, and said the Dow could fall 17,000 points as recently as December 10?
The markets ability to withstand the election of Donald Trump.
“All of my research pointed to signs that the end was near,” wrote Dent in a blog post last week. “The Dow was set to shed thousands of points in short order. How much has changed since November 8.”
No matter how irrational this market is, I admit I’ve gotten the timing wrong,” said Dent.
Gold?
I discussed gold on December 27 in Financial Times, Barron’s Tout Death of Gold.
Here are the pertinent headlines.
End of a Golden Era
For Whom the Bell Tolls
Synopsis
- Gold is despised
- Treasuries are despised
- Harry “wrong way” Dent is suddenly bullish
@Peter_Atwater Another Cover Curse?: It takes special talent to be consistently wrong and make millions doing it. https://t.co/BCQp429EFg pic.twitter.com/xYU2ToLe7Y
— Mike Mish Shedlock (@MishGEA) December 10, 2016
Magazine Curse
Finally, please consider Dow 20,000: Another Magazine Curse? Amusing Cover Flashbacks From Economist, Newsweek, Others.
Source: Time To Buy US Treasury Bonds? Gold? Equities?
Beware Trump Tweets, And Other Major Catalysts In 2017 According To JPMorgan
By Tyler Durden
In the latest macro update from JPM’s Adam Crisafuli, the strategist writes that the Trumpflation rally which more than doubled the market’s YTD gains since the Trump election, has gotten ahead of itself and that “it seems like a lot of headwinds that have been accumulating below the surface for weeks are quietly moving to the fore.“
Here are the details:
Specifically, the initial Trump/Ryan fiscal enthusiasm is getting tempered as investors focus on the details of tax reform, the likelihood of infrastructure spending, and the potential for negative trade actions (this has been discussed throughout the press over the last week).
Note that while investors haven’t been without Trump skepticism, most of the doubt concerns timing (when the Trump policies will be enacted) and not magnitude or efficacy (i.e. it is still the overwhelmingly consensus view that Trump’s “pro-growth” agenda will materially help growth once it takes effect) although this dynamic is starting to gradually adjust (there is more anxiety around efficacy).
Meanwhile, the conciliatory and anodyne nature of Trump’s initial post-victory rhetoric has shifted back to the pre-11/8 tone and the tweeting is actually growing more frequent.
Away from domestic politics, China worries continue to mount as CNY weakness persists (currency outflows are expected to intensify during the opening months of ’17 as quotas get refreshed) and Taiwan/Washington tensions build.
Bottom Line – the SPX hasn’t really moved since ~12/8 and all the major US indices will finish the year w/respectable gains. However, the Trump/Ryan enthusiasm (which has by far been the biggest contributor to the stock rally) is certainly waning (or at least suffering more scrutiny).
And as a bonus, here are JPM’s key preliminary catalysts for 2017:
- CES – the Consumer Electronics Show formally runs from Jan 5-8 in Las Vegas but “media days” take place Jan 3-4.
- US Dec jobs report Fri 1/6.
- Obama “farewell speech” on Tues Jan 10.
- ICR consumer conf. Jan 9-11. Orlando.
- Yellen will host a town hall meeting with educators from across the country. There will be a Q&A. Thurs 1/12 7pmET.
- US bank earnings season kicks off Fri 1/13 (BAC, FHN, JPM, PNC, and WFC all report that day).
- Earnings – week of Mon 1/16 is the first big one of the CQ4 earnings season.
- World Economic Forum 1/17-20 in Davos.
- ECB – first ECB decision of the year will occur on Jan 19.
- Trump inauguration Fri 1/20.
- Trump priorities – Trump will have a finite stock of political capital but a broad agenda, including tax reform (individual and corporate), infrastructure spending, deregulation (ACA,
- Frank, fiduciary rule, etc.), immigration reform, trade deal adjustments, Supreme Court nominees (at least one). What parts of the platform are prioritized and which get deemphasized?
- Trump fiscal specifics – what are the particulars of the tax reform bills – rates, deductions, etc.? How will the fiscal priorities be sequenced? Will corporate and individual tax reform get tackled separately, in which case the latter may not …read more
Source: Beware Trump Tweets, And Other Major Catalysts In 2017 According To JPMorgan
100% Pure Garcinia Cambogia Extract – Appetite Suppressant – Carb Blocker Capsules – 2100 MG – 90 Caps Looking for something special ? Find The Lowest Price HERE
Global Equities Encountering Resistance At Year-End
By Tyler Durden
The Global Dow Index is running into its long-term Down trendline stemming from the 2007 all-time peak.
Here in the U.S., equity investors have been a bit spoiled as they’ve watched index after index break into all-time high ground this year. Around the globe, investors have not been so lucky. Yes, most international indices have rallied solidly this year. However, with few exceptions, the rallies have still left these international markets shy of their all-time highs. One illustration of this situation can be seen in a chart of the Global Dow Index (GDOW).
We’ve posted many times on the GDOW due to its reliable conformity to technical charting tools, despite the fact that very little money is traded off of it. Additionally, we have found it to be an accurate barometer of the state of the global equity market. Specifically, the GDOW is an equally-weighted index of 150 of the world’s largest stocks. While this includes U.S.-based companies, its heavy dose of international exposure has led to its aforementioned position below its all-time high.
Furthermore, it is currently running into potential resistance in the form of its post-2007 Down trendline connecting the 2007, 2014 and 2015 tops.
Will this hold? We don’t have a crystal ball, but it has briefly repelled the GDOW thus far. And while most U.S.-based indices have succeeded in reaching all-time high ground, it is important to note that such circumstances are not unanimous. Along with the Value Line Geometric Composite, there are still some key hurdles facing global stocks as we head into 2017.
* * *
More from Dana Lyons, JLFMI and My401kPro.
Source: Global Equities Encountering Resistance At Year-End
Putin Stunner: "We Will Not Expel Anyone; We Refuse To Sink To Obama’s Level"
By Tyler Durden
Vladimir the merciful?
Following this morning’s reports that Foreign Minister Sergei Lavrov would recommend to Russian President Vladimir Putin a retaliation in kind, and expel 35 American diplomats, saying that “we cannot leave such acts unanswered. Reciprocity is part of diplomatic law” with Putin spokesman Peskov adding that “there is no doubt that Russia’s adequate and mirror response will make Washington officials feel very uncomfortable as well”, it was ultimately up to Putin to decide how to respond to the US.
Which he did on Friday morning, when in a stunning reversal, the Russian leader took the high road, and in a Kremlin statement said that, contrary to expectations, Russia won’t expel any Americans in retaliation to US moves, in a brutal demonstration of just how irrelevant Obama’s 11th hour decision is for US-Russian relations.
In the statement Putin said that Russia won’t cause problems to U.S. diplomats or deport anyone, adding that Russia has the right to respond in tit-for-tat manner, but it will not engage in irresponsible diplomacy.
The punchline, however, was saved for what may be Russia’s final slam of the debacle that is Obama’s administration saying that “It’s a pity that the current U.S. administration is finishing their work in such a manner” saying that Russia refuses “to sink to the level of this irresponsible “kitchen” diplomacy.”
Putin ended the statement by congratulating U.S. President-elect Donald Trump, and the American people on the New Year and invited the hildren of US diplomats to a holiday celebration at the Kremlin.
From the full statement posted on the Kremlin website:
“We reserve the right to retaliate, but we will not sink to the level of this irresponsible ‘kitchen’ diplomacy. We will take further moves on restoring Russian-American relations based on the policies that the administration of President-elect Donald Trump adopts,”
And with that one statement, Obama lost the diplomatic war with Russia.
Source: Putin Stunner: "We Will Not Expel Anyone; We Refuse To Sink To Obama’s Level"
Russia Retaliates: To Expel 35 US Diplomats After US Sanctions
By Tyler Durden
Russia warned it would respond proportionally to yesterday’s unprecedented sanctions and diplomatic expulsions unveiled by the Obama administration, and this morning it did just that when Russia’s foreign ministry announced plans to expel 35 U.S. diplomats and ban U.S. diplomatic staff from using a dacha and a warehouse in Moscow in retaliation to Washington’s sanctions, Russian news agencies reported.
Foreign Minister Sergei Lavrov was quoted by the agencies as saying he had proposed the measures to President Vladimir Putin, and said that “we cannot leave such acts unanswered. Reciprocity is part of diplomatic law.”
He called the people in question—31 employees at the U.S. embassy in Moscow and 4 in the U.S. consulate in St Petersburg—“persona non-grata.”
Russian Foreign Minister Sergei Lavrov
Mr. Lavrov also said Americans should be banned from using their vacation home near Moscow.
Other joined Lavrov: additional proposed measures are expected though: Ministry of Foreign Affairs spokeswoman Maria Zakharova wrote on her Facebook page Thursday, “there will be official statements, counter-measures” announced on Friday. Dimitry Peskov, Putin’s press secretary, echoed likewise: “We will certainly response adequately…and it will be determined in line with decisions adopted by the Russian President.”
Peskov warned, “there is no doubt that Russia’s adequate and mirror response will make Washington officials feel very uncomfortable as well.”
Ultimately, it is up to Putin to draft such retaliatory measures.
ABC News had previously reported, citing a US official, that Moscow had ordered the the shutdown of the Anglo-American School of Moscow – chartered by the American, British, and Canadian embassies in Moscow – but a US embassy official in Moscow said the school had not been shuttered. Russia’s foreign ministry also denied the school’s closure.
Nonetheless, as the WSJ notes, the “dispute marks one of the biggest diplomatic confrontations between Washington and Moscow since the end of the Cold War.” President Barack Obama in a statement on what he called a partial response to Russia’s alleged hacks, said the cyberattacks “could only have been directed by the highest levels of the Russian government.”
Russia has denied involvement and Lavrov, as well as millions of Americans, have accused the U.S. of neither having nor showing any evidence.
“The outgoing American administration of Barack Obama, who have accused Russia of all mortal sins and tried to blame us for the failure of its foreign policy initiatives, among other things, has groundlessly made additional accusations that Russia interfered in the U.S. election campaign at the state level,” he said.
The Russian act was in retaliation to sanctions imposed on Thursday by the US on Russian intelligence agencies and expelled what the State Department said were 35 intelligence operatives allegedly serving under diplomatic cover from the Russian embassy in Washington and the Russian consulate in San Francisco.
Shortly after Obama’s announcement, Donald Trump, who has shown a far more amenable side to dealing with Russia, said that “It’s time for our country to move on to bigger and better things” but added that “in the interest of our country and its great people, …read more
Source: Russia Retaliates: To Expel 35 US Diplomats After US Sanctions
The best (and worst) stock markets of 2016
Russia, Argentina, Brazil, Canada and Norway posted stellar stock gains in 2016. Other markets weren’t so lucky. …read more
Source: The best (and worst) stock markets of 2016
