As of the end of the day on October 29th, the total snowfall recorded at the National Weather Service office in Cheyenne, WY for the month of October reached 28.0 inches.
This sets a new record for the most snowfall ever recorded in Cheyenne for the month of October. The previous record was 23.1 inches which was measured in October of 1906. The following information is the top 5 snowiest Octobers since 1850.
IF you don’t reduce your carbon footprint, then puppies will drown and bunny rabbits will die. And a terrifying, jagged-toothed monster with crazy hooked hands will descend from the clouds to eat you up.
Believe it or not, that is the message being delivered by the British government to children, in a L6 million ($10.7m) advertising campaign designed to scare the next generation witless about the alleged horrors of global warming.
Taking environmentalist propaganda to a new low, the TV ad shows a father reading a nightmarish bedtime story to his perturbed-looking young daughter.
He tells her of a land where the “weather is very, very strange”. There are “awful heatwaves” and “terrible storms and floods”. A cartoon bunny is shown crying as it starves on the dried, cracked earth, while elsewhere a puppy drowns in floodwaters.
Above it all, a sooty, blackened monster – CO2 made hideous flesh – surveys the horrors with a grotesque grin on its face.
And just in case the little girl, and the millions of children that the TV ad is aimed at, thinks this is merely a twisted fairytale, her father makes clear that it is reality.
It is the “horrible consequence”, he says, of human beings using too much CO2, much of which comes from “everyday things like keeping houses warm and driving cars”.
In short? Children who live in warm houses and who get lifts to school or football practice should feel guilty, because their evil antics are causing dogs to die and cute rabbits to go hungry.
Nov. 3 (Bloomberg) — The International Monetary Fund sold 200 metric tons of gold to the Reserve Bank of India for about $6.7 billion, its first such sale in nine years.
The transaction, equivalent to 8 percent of global annual mine production, involved daily sales from Oct. 19-30 at market prices and is in the process of being settled, the IMF said in a statement yesterday. The average price to India, the biggest consumer, was about $1,045 an ounce, an IMF official said on a conference call. Gold for immediate delivery gained 0.2 percent.
“The fall in the U.S. dollar seems to be pushing all the central banks to strengthen their portfolio with gold,” said N.R. Bhanumurthy, professor at the National Institute of Public Finance and Policy in New Delhi. “Gold is a safe store of value compared to the U.S. dollar.”
This video was broadcast by MSNBC on Friday, Oct. 30, 2009.
According to Congressman Dennis Kucinich (D-OH), the Democrats’ health reform legislation is basically a sham.
Appearing on MSNBC’s The Ed Show on Friday night, the House’s most unabashed progressive condemned Democratic leadership for removing his amendment that would allow states to create their own single-payer systems. Then he called the entire legislative package “a bailout for insurance companies.”
Under a single-payer system, like those in Canada and the United Kingdom, the government pools taxpayer funds to pay for citizens’ health care and fees are not collected by health care providers. The Kucinich amendment would allow individual states an opt-in to such a system.
“Representative Kucinich was livid when he found out that his provision to allow states to create a single payer system was stripped,” News Junkie Post noted. “Kucinich’s amendment passed the House Labor and Education Committee in July. ‘No one gave me any rational reason,’ Kucinich said. ‘I can only assume the insurance company interests brought pressure to take it out. Otherwise I would have heard from someone.'”
“The [committee] vote was 25 to 19, with support coming from an odd mix of liberal Democrats who support single-payer on its merits and conservative Republicans who want to preserve the rights of states to regulate themselves,” The Washington Independent noted at the time.
“The removal of the Kucinich amendment constitutes yet another capitulation to the health insurance and pharmaceutical industries who are already reaping billions of dollars from the bill,” reads a statement from the congressman’s office on Thursday.
Under the revised public option, “Pelosi and her team have proposed a plan that would not make payments for care based on Medicare rates …” CBS News’s John Nichols noted. “Rather, under the Pelosi plan, the rates be tied to those of the big insurance companies. That’s a big, big victory for the insurance industry, as it will undermine the ability of the public option to compete — and to create pressure for reduced costs.”
Speaking to liberal MSNBC anchor Ed Schultz on Friday, Kucinich continued his assault on the legislation.
“I think we need the support of the American people to say, look, you need that state single-payer amendment in the bill to make it credible,” the congressman said. “I mean, what are people giving up already? They’re being mandated to buy private insurance. If you read the bill, the people are going to end up paying — the insurance companies can raise rates 25 percent right off the bat, if you read the bill.”
Schultz encouraged Kucinich to repeat himself on that point.
“It’s on page 22 of the bill,” he replied. “Right here, it says that rates shall be set at a level that does not exceed 125 percent of the prevailing standard rate for comparable coverage in the individual market. Now … It’s very easy to understand what that means.”
“It’s not reform,” Schultz insisted.
“It means a 25 percent increase, they’ll have the ability to execute and since insurance companies have already raised rates for the last four years by double-digits, we can expect — based on the bill — another rate increase by the insurance companies.”
Schultz called the bill a “sellout” to insurers because the bill only allows 11 million people into a limited government-run health insurance option, and includes a mandate for Americans to buy private policies.
“Maybe instead of a sellout it’s a bailout,” Kucinich responded. “Maybe what we’re looking at here is another way that Wall Street’s speculative engine can be fueled, this time with the help of the premiums of tens of millions of Americans.”
People will say that Gordon Brown was just a terrible investor/market timer, but that gold was bought by the elite at rock-bottom prices, so Gordon Brown (like Barack Obama) is the perfect puppet of the elite.
Nov. 2 (Bloomberg) — Central banks will become global net buyers of gold, the World Gold Council’s chief executive officer said today at a conference in Edinburgh.
“I believe that central banks will be net buyers over time,” Aram Shishmanian told the conference.
Obamanomics deficit spending is absolutely irresponsible and Barack Obama knows this:
“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.”
– Barack Obama
“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”
– Ron Paul
Barack Obama tripled George W. Bush’s deficit!
Change you can believe in!
– The Tax Foundation computes the income tax rates necessary to close the deficit:
The massive complex, comprising up to 1.5 million square feet of building space, will provide intelligence and warnings related to cybersecurity threats across government.
The National Security Agency, whose job it is to protect national security systems, will soon break ground on a data center in Utah that’s budgeted to cost $1.5 billion.
The NSA is building the facility to provide intelligence and warnings related to cybersecurity threats, cybersecurity support to defense and civilian agency networks, and technical assistance to the Department of Homeland Security, according to a transcript of remarks by Glenn Gaffney, deputy director of national intelligence for collection, who is responsible for oversight of cyber intelligence activities in the Office of the Director of National Intelligence.
“Our country must continue to advance its national security efforts and that includes improvements in cybersecurity,” Sen. Robert Bennett, R-Utah, said in a statement. “As we rely more and more on our communications networks for business, government and everyday use, we must be vigilant and provide agencies with the necessary resources to protect our country from a cyber attack.”
Nov. 2 (Bloomberg) — Citigroup Inc. and JPMorgan Chase & Co. are hoarding cash as if another crisis were on the way.
Citigroup has almost doubled its cash to $244.2 billion in the year since Lehman Brothers Holdings Inc. filed for bankruptcy, the biggest such stockpile of any U.S. bank. The lender, which last year came so close to a funding shortfall it had to get a $45 billion government infusion, is under pressure from the Treasury Department and regulators to keep more money on hand for emergencies, even as markets improve.
SAN JOSE, Calif. — When California wildfires ruined their jewelry business, Tony Becker and his wife fell months behind on their mortgage payments and experienced firsthand the perils of subprime mortgages.
The couple wound up in a desperate, six-year fight to keep their modest, 1,500-square-foot San Jose home, a struggle that pushed them into bankruptcy.
The lender with whom they sparred, however, wasn’t the one that had written their loans. It was an obscure subsidiary of Wall Street colossus Goldman Sachs Group.
Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds. Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers.
The couple alleges that Goldman declined for three years to confirm their suspicions that it had bought their mortgages from a subprime lender, even after they wrote to Goldman’s then-Chief Executive Henry Paulson — later U.S. Treasury secretary — in 2003.
In exchange, Goldman Sachs received $285 million in termination fees, CIT said yesterday in a filing with the U.S. Securities and Exchange Commission. Under the terms of the two companies’ original agreement, Goldman Sachs would have been due a $1 billion termination payment to close the credit line after a CIT bankruptcy.
CIT’s Bankruptcy May Help Bondholders and Erase Taxpayer Stake
Pedestrians walk outside CIT headquarters in New York on July 10, 2009. (Bloomberg)
Nov. 2 (Bloomberg) — CIT Group Inc.’s decision to seek court protection probably will keep money flowing to bondholders and 1 million customers of the 101-year-old commercial lender. Shareholders and taxpayers won’t be as fortunate.
CIT’s Chapter 11 bankruptcy may give bondholders new notes at 70 cents on the dollar plus new common stock, and Chief Executive Officer Jeffrey Peek said clients will be able to get funds. Common stock owners could be mostly wiped out, and the U.S. Treasury Department said it won’t recoup much, if any, of the $2.33 billion of taxpayer money that went into CIT, the largest firm to go bankrupt after getting a federal bailout.
The feds and the city are using some funny math to inflate the number of jobs created by the $787 billion stimulus program so far — with the tally including thousands of brief, low-wage summer jobs for youths.
New reports just released by the Obama administration claim New York state has “created/saved” 40,625 jobs — including 25,526 in the city.
A spokesman for Mayor Bloomberg told The Post that the city had “created” 3,000 jobs and that the rest represented already employed teachers and other city employees who faced possible layoffs without the federal “shot in the arm.”
The spokesman could not immediately give a breakdown of what the new jobs entailed. But a memo issued by Deputy Mayor Edward Skyler suggested the number of stable new jobs was under 300.
The memo had a footnote explaining that the city used a formula required by the feds to count 2,882 “full-time-equivalent” as created jobs.
That number was based on 19,518 youths who took part in a summer employment program, Skyler said. The seven-week program paid minimum wage — less than $8 per hour — for residents age 14 to 24 to work in local businesses, public facilities and nonprofit groups and included some training, officials said.
The large-scale government intervention in the economy is going to end badly.
Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to 4%. Many of these are the same people who insisted that the economy would continue growing last year, even while it was clear that we were already in the beginning stages of a recession.
A false recovery is under way. I am reminded of the outlook in 1930, when the experts were certain that the worst of the Depression was over and that recovery was just around the corner. The economy and stock market seemed to be recovering, and there was optimism that the recession, like many of those before it, would be over in a year or less. Instead, the interventionist policies of Hoover and Roosevelt caused the Depression to worsen, and the Dow Jones industrial average did not recover to 1929 levels until 1954. I fear that our stimulus and bailout programs have already done too much to prevent the economy from recovering in a natural manner and will result in yet another asset bubble.
Anytime the central bank intervenes to pump trillions of dollars into the financial system, a bubble is created that must eventually deflate. We have seen the results of Alan Greenspan’s excessively low interest rates: the housing bubble, the explosion of subprime loans and the subsequent collapse of the bubble, which took down numerous financial institutions. Rather than allow the market to correct itself and clear away the worst excesses of the boom period, the Federal Reserve and the U.S. Treasury colluded to put taxpayers on the hook for trillions of dollars. Those banks and financial institutions that took on the largest risks and performed worst were rewarded with billions in taxpayer dollars, allowing them to survive and compete with their better-managed peers.
– Has Anyone Read the Copenhagen Agreement? U.N. plans for a new ‘world government’ are scary (The Wall Street Journal):
“We can only hope that world leaders will do nothing more than enjoy a pleasant bicycle ride around the charming streets of Copenhagen come December. For if they actually manage to wring out an agreement based on the current draft text of the Copenhagen climate-change treaty, the world is in for some nasty surprises. Draft text, you say? If you haven’t heard about it, that’s because none of our otherwise talkative political leaders have bothered to tell us what the drafters have already cobbled together for leaders to consider. And neither have the media.”
“So far there have been more than a million hits on the YouTube post of his address. It deserves millions more because Lord Monckton warns that the aim of the Copenhagen draft treaty is to set up a transnational “government” on a scale the world has never before seen.”
Greenpeace has been taken over a long time ago.
The European Union proposed on Friday that rich countries should give developing nations up to €50bn ($74bn) a year by 2020 to help them fight climate change but stopped short of stating how much the 27-nation bloc was willing to contribute.
After a two-day summit, EU leaders said the support by rich countries should begin with an annual €5bn-€7bn from 2010 to 2012 in “fast-start” finance.
The failure to say how much the EU would offer and how it would divide costs among its 27 member states means Europe continues to lack a detailed negotiating position for December’s global climate change conference in Copenhagen.
Environmentalist groups were disappointed.“The EU failed to use this opportunity to put its money where its mouth is,” said Joris den Blanken, Greenpeace’s EU climate policy director. “But all is not lost. Today 27 of the world’s richest nations have backed global funding to tackle climate change in developing countries.”
Oct. 30 (Bloomberg) — Billionaire investor Wilbur L. Ross Jr., said today the U.S. is in the beginning of a “huge crash in commercial real estate.”
“All of the components of real estate value are going in the wrong direction simultaneously,” said Ross, one of nine money managers participating in a government program to remove toxic assets from bank balance sheets. “Occupancy rates are going down. Rent rates are going down and the capitalization rate — the return that investors are demanding to buy a property — are going up.”
U.S. commercial property sales are forecast to fall to the lowest in almost two decades as the industry endures its worst slump since the savings and loan crisis of the early 1990s, according to property research firm Real Capital Analytics Inc. The Moody’s/REAL Commercial Property Price Indices already have fallen almost 41 percent since October 2007, Moody’s Investors Service said Oct. 19.
Billionaire George Soros, speaking today at a lecture organized by the Central European University in Budapest, said a “bloodletting” may be coming for leveraged buyouts and commercial real estate.
“The American consumer will no longer be able to serve as the motor for the world economy,” said Soros, 79.
His comments came in the same week that Capmark Financial Group Inc. filed for Chapter 11 bankruptcy protection after originating $60 billion in commercial property loans in 2006 and 2007.
Tories want energy companies ordered to increase reserves
UK could run out of gas within six hours this winter (Action Press/Rex Features)
The UK could run out of gas within six hours this winter, the Observer has learned. The revelation has sparked a row between the Conservatives and Labour over who is doing more to keep the heating on. Last winter, the UK was left with only three days of reserves when foreign energy companies started exporting gas to supply their European customers after Russia cut supplies that used a pipeline through Ukraine.
A spokeswoman for Ed Miliband’s energy and climate change department said that under a civil contingency act he had the power to halt exports from the UK if the Queen had signed the order.
Charles Hendry, the shadow energy minister, told the Observer that the current minimum requirements on companies to keep gas in storage were not tough enough to safeguard the security of the UK’s energy supplies.
Labour hit back this weekend, accusing the Conservatives of “blighting progress” on building more gas storage facilities by blocking planning reforms proposed by the government.
If its storage facilities are full, the UK has enough gas supplies for about 16 days, based on average demand. France’s storage capacity would last a maximum of 91 days and Germany’s 73 days.
Pedestrians make their way across the snow in Tian’anmen Square
BEIJING — Chinese meteorologists covered Beijing in snow Sunday after seeding clouds to bring winter weather to the capital in an effort to combat a lingering drought, state media reported.
The unusually early snow blanketed the capital from Sunday morning and kept falling for half the day, helped by temperatures as low as minus 2 Celsius (29 Fahrenheit) and strong winds from the north, Xinhua news agency reported.
Besides falling in the northeastern provinces of Liaoning and Jilin and the northern province of Hebei, the eastern port city of Tianjin also got its first snow of the autumn, the report said.
“We wont miss any opportunity of artificial precipitation since Beijing is suffering from the lingering drought,” the report quoted Zhang Qiang, head of the Beijing Weather Modification Office, as saying.
Chinese meteorologists have for years sought to make rain by injecting special chemicals into clouds.
(Every investor is fully responsible for his/her own actions, actually for his/her entire life. Blaming others is a sign of weakness. It is giving your power away to others and leaves oneself in the position of a pathetic, powerless victim.)
By Bob Chapman
Insiders at corporations are selling with glee. Thirty times more sell orders than buy orders.
During September and October we still saw short covering. We also see that 73% of NYSE trading was of the black box variety, program trading. There are 16 firms front-running all market trades and the SEC refuses to do anything about it, so that Goldman Sachs and JP Morgan chase can further enrich themselves, illegally. The SEC calls it flash-trading not what it really is, stealing. And, yes, the SEC still refuses to stop naked shorting, which is also illegal – another trove of riches for the anointed insiders at Illuminati run brokerage firms. The remainder of the market strength comes from banks, brokerage firms and insurance companies who are leveraging funds received from the Treasury and the Fed, some $12.7 trillion. That is what this really is all about.
This is the first time ever that the S&P 500 has ever rallied 60% in six months. The Dow reached 10,000, when it should not have exceeded 8,500. That shows you the distortion and manipulation going on and points up the now blatant activities of the President’s “Working Group on Financial Markets,” which, of course, operates in secret. As a tribute to this phony rally we have lost 2.5 million jobs over its tenure, when two million are normally created. Are there no professionals out there that get it? They cannot all be that dumb, and they are not that dumb. They are engaging in a conspiracy of silence. They want to be thought well by their peers at the club. They do not want to be ostracized in the Wall Street click. We know we were there for 28 years, of course, always on the outside looking in, permanently known as goldie. If you want to see where the US stock market is eventually going take a look at Japan from 1992 to today. 70% losses and still unable to get out of its own way with an economy still in depression. Incidentally, if the US market copies Japan, which we believe it will, we could easily fall to 3,800 to 4,200 on the Dow and we’ll be very lucky if it holds there. Others whose opinion we respect are looking for 2,800. Wall Street is pricing into the market earnings not only for 2010 but 2011 as well, which is very dangerous in such an environment. We are still in the worst credit crisis since the 1930s.
Trailing P/E on operating earnings is 27 times. When the Dow was 14,168 in 2007, it was 18.8 times. Reported trailing earnings are 180 times, whereas in 10/07, it was 23.4 times. In 10/87, it was 20.3 times. That should give you something to think about if you are in the market. Normally P/E’s should be 14.5 times.Instead of chasing an overpriced goose you should be participating in the bull markets in gold, silver and commodities. That is where safety, preservation of capital and possible large gains are to be found, both short and long term. Why fiddle with an overextended bear market rally when you can gain in relative safety. Get rid of those bonds, stocks, CDs, cash value life insurance policies and annuities, which are really uninsured and in the stock market waiting to again fall 40% to 70% in value. The crisis is not over; it is still in the beginning.
The Fed and Wall Street tell us the recession is over and soon policy actions will continue to a gradual resumption of sustainable economic growth. They see no inflation ahead, only the 1.2% presently. Needless to say, they are well aware that real inflation is 6.11%.
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