Tumblr Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Home NewsWatch National News Trump wants military to do border control Google+ Previous PostUnited Airlines Will Make An Official Arrival At Greenbrier Valley Airport WASHINGTON, DC (AP) – President Donald Trump says he wants to use the military to secure the U.S.-Mexico border until his promised wall is built.Trump says during a lunch with Baltic leaders that he’s spoken with Defense Secretary Jim Mattis about the idea.He says, “We’re going to be doing things militarily until we can have a wall and proper security.”He’s calling it a “big step.”Trump begrudgingly signed a spending bill last month that provided far less money for the wall than he wanted.He’s been complaining that U.S. borders are too porous and its immigration laws are too weak. Linkedin Twitter Next PostWreck On I-64 Turnpike Near Pax With Entrapment Facebook National NewsNewsWatchPolitical NewsTop Stories Trump wants military to do border control By Tyler BarkerApr 03, 2018, 13:17 pm 460 0 Pinterest Mail Tyler Barker Tyler Barker is currently the Interim News Director and Digital Content Manager for WOAY-TV. I was promoted to this job in Mid-November. I still will fill in on weather from time to time. Follow me on Facebook and Twitter @wxtylerb. Have any news tips or weather questions? Email me at firstname.lastname@example.org
Despite the Federal Reserve’s use of all its conventional techniques and numerous experimental measures, the US economy has continued to lose thrust. Over the first three quarters of 2014, real GDP grew at a 2% annual rate. Such an increase is entirely insufficient to raise the standard of living, which stands at the same level as 18 years ago. Over the latest five years, real GDP grew a paltry 2.3%/year. From 1790 through 1999, before total private and public debt surged above the deleterious level of 275%, the growth in real GDP was 4% per annum. This observed loss in growth since 1999 is larger than the roughly 25% loss that the econometric studies predicted would occur at debt levels above 275%. As some researchers found, the post-1999 record is consistent with the negative consequences of debt rising disproportionately as debt relative to GDP moves above critical threshold levels. Though the numbers for the fourth quarter are far from complete, year-over-year growth in real GDP for 2014 is unlikely to exceed the 2% pace of the past five years. The economy is limping badly: real consumer expenditures are growing at a paltry 1% annual rate early in the fourth quarter, down from a 1.8% growth rate in the first three quarters of the year. The highly cyclical vehicle sales have declined from highs reached earlier in the year. The current rate of growth in consumer outlays is shaky, since real average hourly earnings, which is the main source of income for nearly three-fourths of all households, rose a mere 0.4% in the past 12 months. Manufacturing output, which was the best-performing economic sector year to date, actually contracted slightly over the past three months. The previously explosive petroleum sector has slowed even more sharply in the face of a severe slump in oil prices. These developments are not merely statistics. In the extensive exit polling conducted by CBS on Election Day, 78% expressed negative views on the US economy. Because the household saving rate is at the same depressed 5% level as when the economy entered the Great Recession in 2008 and because consumers feel so negative about the economy, any windfall from falling gasoline prices will likely be saved, not spent. Moreover, the drop in oil prices will slow capital expenditures (capex) and lead to higher volumes of imported oil, both of which drag on US growth. Four years ago, the petroleum sector was 12% of capex, but it accounted for 25% of the direct rise in capex, perhaps as much 35% when including the direct and indirect effects. The unwind, which has already started, could be long and difficult. Poor domestic business conditions are echoed in Europe as well as in perennially troubled Japan. Europe faces the threat of a triple dip; at this point, mere stagnation would be a victory. The eurozone economy barely grew in the third quarter after contracting in the second quarter and is showing signs of a renewed slump in the fourth quarter. For Japan, a slowdown in economic activity is a given. The question is: how bad it will be? Japan’s growth was negative over the past two quarters, its third such decline since 2008. This is for an economy where real GDP hasn’t grown for almost 25 years. US growth, while disappointing, is far better than in Europe and Japan because the US is the least indebted of the three. Based on the latest available data, aggregate debt in the US stood at 334%, compared with 460% in the 17 economies in the eurozone and 655% in Japan. In short, the more advanced the debt sclerosis, the worse the economic performance. Falling Global Inflation It’s not surprising that inflation is receding sharply in almost every major economy, including China, in this debt-constrained environment. The decline in price pressures in the US and Europe is significant, but the fall in Chinese inflation to 2% is particularly notable because such a low rate is almost unprecedented. In the latest 12 months, the CPI in the eurozone rose a scant 0.3%, the lowest year-over-year change since 2009, while the core CPI increased by a near record low of 0.8%. The yearly gain in the US core and overall CPI was 1.7% and 1.8% respectively. The overall and core personal consumption expenditures price indices both rose by 1.5% in the latest 12 months. Commodity prices, which are a leading indicator of inflation, have fallen to the lowest levels in 4-5 years, signaling that aggregate demand is weak as well as pointing to the risk of deflation. With inflation so low, the risk of outright deflation in Europe and the US should not be downplayed. Inflation has fallen in all US and European economic contractions. This is not surprising. Lower inflation is almost as much of a hallmark of recessions as is decreasing real GDP. From the peak to trough in and around the mild US recessions of 1990-‘91 and 2000-‘01, the rate of CPI inflation fell by an average of slightly more than 300 basis points. Starting from a much lower point, the CPI in Europe during those periods dropped by an average of 150 basis points. Given that inflation is already so low in both the US and Europe, even the mildest recession would push both economies into deflation. Declining Money Velocity—A Global Event Velocity of money is one important factor that connects poor growth with the low inflation and bond yields evident in the US, Europe, and Japan. Before turning to this discussion, let’s consider the role of velocity in determining economic conditions. We have heard it said that velocity doesn’t cause anything because it is a residual determined by calculating the ratio of nominal GDP divided by M2 or some other measure of money. However, velocity (V) should be looked at functionally, not in terms of the mechanics of its calculation. True, V is a residual by calculation. But there are many residuals in economics, including real GDP, productivity, and saving. Real GDP is nominal GDP divided by the price level; saving is income less spending; and productivity is GDP divided by hours worked. Nevertheless, economists think of real GDP, productivity, and saving in terms of their functional determinants, not the mechanics of their computation. Many large-scale econometric models have been built to explain the way in which these critical economic variables are determined. In theory, velocity could be directly observed if we had a sufficiently large computer network to capture the activity of all participants. The same is true for real GDP, saving, and productivity. Someday such a system may exist; serious efforts are underway to measure actual transaction prices of items in the CPI rather than relying of random sample surveys of posted prices. Many things influence V. Indeed, the factors that could theoretically influence V are too numerous to count. But productivity of debt is the key. Money and debt are created simultaneously. If the debt produces a sustaining income stream to repay principal and interest, then velocity will rise, since GDP will rise by more than the initial borrowing. If the debt is a mixture of unproductive or counterproductive, then V will fall. Debt for the purpose of consumption or paying of interest and debt that is defaulted on will be either unproductive or counterproductive. The Nobel laureate Milton Friedman as well as Irving Fisher both focused on the causal determinants of V. Friedman thought V was stable, while Fisher disagreed strongly. As things now stand, Fisher’s view prevails. Irving Fisher would not be at all surprised by the developments we’re about to discuss since he argued in his famous 1933 paper “Debt Deflation Causes of Great Depressions” that falling money velocity is a symptom of extreme overindebtedness. Using M2 as the measure of money, velocity (V2) is below historical norms. US V2 is higher than European V2, which in turn is higher than Japanese V2. This pattern is consistent since Japan is more highly indebted than Europe, which is more indebted than the US. Broad monetary conditions (money growth and velocity) are worse thus far in 2014 than at the end of last year. The poor trend in the velocity for all three economies, despite unprecedented monetary easing, indicates that monetary policy can no longer influence economic activity in any meaningful way. United States. US year-over-year M2 growth is still around 6%, and the velocity of money has trended downward by about 3% annually. It’s still too early to tell whether the 3.6% rate of decline in V2 in the first half of 2014 indicates that V2 is decelerating further. Regardless, nominal GDP is constrained to no more than a 3% increase. And the risks are clearly to the downside, since 2014 has seen an increase in consumer auto and mortgage lending that was achieved by a lowering of credit standards. The percentage of subprime consumer auto loans has returned to the peak levels reached 8-10 years ago. Such lending has historically turned counterproductive. If this were to occur again, velocity would drop further, resulting in a sub-3% path for nominal GDP. Europe. V2 data are only available from 1995. Since then, V2 averaged 1.4, dropping from a peak of about 1.7 in 1995 to 1.03 in 2013. Over that span, euro V2 trended lower at 2.6% per annum. In the latest 12 months, euro M2 has increased by 2.4%. If this trend rate of decline continues, nominal GDP in the eurozone could be flat. In such an environment, any inflation would result in a negative real GDP. Japan. From the start of the comparable M2 and nominal GDP statistics in 1969 in Japan, V2 in Japan has averaged 1.0, dropping from 1.72 in 1968 to a record low of 0.58 in the latest year. Over this period, velocity fell by an average 2.2% per annum. In the latest 12 months, M2 in Japan increased 3.6%. If the downtrend in velocity continues, nominal GDP would grow by 1.2%. However, with inflation currently running at 3.6%, real GDP could decline by over 2%. This serves to illustrate the double-edged sword of a sharply depreciating currency. The weaker yen boosts exports but raises domestic inflation. Japanese inflation is already exceeding the rise in wages and household spending, which is consistent with a contraction in economic activity. More Research on Global Debt Problems Important new research by four distinguished economists provides additional evidence on the role of “debt dynamics” and the state of the global debt overhang. In Deleveraging? What Deleveraging?, Buttiglione, Lane, Reichlin, and Reinhart write: “Contrary to widely held beliefs, the world has not yet begun to delever and the global debt-to-GDP is still growing, breaking new highs …” With debt rising and world growth and inflation lower than expected, they call this a “poisonous combination.” They continue (emphasis mine): “Deleveraging and slower nominal growth are in many cases interacting in a vicious loop, with the latter making the deleveraging process harder and the former exacerbating the economic slowdown.” The report identifies another significant trend: Global debt expansion was led by developed economies until 2008, but since 2008, emerging economies have led the debt buildup. The authors write, “The sharp rise in Chinese debt is especially striking.” They describe China as “between a rock (rising and high debt) and a hard place (lower growth).” In addition to China, they identify India, Turkey, Brazil, Chile, Argentina, Indonesia, Russia, and South Africa as belonging to the “fragile eight” group of countries that “could find themselves in the unwanted role of host to the next phase of the global leverage crisis.” We interpret the report to mean that monetary policy may become impotent in emerging markets, just as it already has in the US, Europe, and Japan. Weaker growth conditions in the emerging markets are thus likely to accentuate, not ameliorate, poor business conditions in the major economies. Indeed, this year’s downturn in global commodity prices is consistent with the beginning of such a phase. The huge jump in emerging-market debt is especially worrisome when considered with the findings in the Federal Reserve Bank of San Francisco’s 2012 Working Paper by Oscar Jorda, Moritz Schularick, and Alan M. Taylor. In evaluating 223 business cycles in 14 advanced countries over 140 years, they found the severity of economic contractions is directly related to the leverage in the prior expansion. Asset Bubbles Historically, the most important authority on the subject of asset bubbles was the late MIT Professor Charles Kindleberger, author of 20 books, including one of the greatest books on capital markets: Manias, Panics, and Crashes. In a 2014 book titled House of Debt, Atif Mian (Princeton) and Amir Sufi (University of Chicago) have expanded upon and confirmed Kindleberger’s pioneering work. Chapter 8, titled “Debt and Bubbles,” contains the heart of their insights. Based on our reading of these two books, we would define an asset bubble as a rise in prices caused by excess central bank liquidity rather than by economic fundamentals. As Kindleberger clearly stated, the process of excess liquidity fueling higher prices in the face of faltering fundamentals can run for a long time, a phase Kindleberger called “overtrading.” But eventually, this gives way to the “discredit,” when the discerning few see the discrepancy between prices and fundamentals. Eventually, discredit yields to revulsion when the crowd comes to understand the imbalance. Economists have commented on the high correlation between the S&P 500 and the Fed’s balance sheet since 2009. From 2009 to the latest available month, the monetary base surged from $1.6 trillion to $4.3 trillion. We checked those calculations and found a very high correlation between the S&P 500 and the Fed’s balance sheet of +0.69. While correlation does not prove causation, the high correlation is certainly consistent with the logic that Fed liquidity has played a major role in boosting stock prices. As the monetary base has exploded since 2009, the economy experienced the worst economic expansion on record. In spite of a further large rise in the monetary base this year, GDP growth slowed, and corporate profits after taxes and adjusted for inventory gains/losses (IVA) and over/under-depreciation (CCA) fell 10% in the latest four quarters. Such a discrepancy between surging liquidity and record high stock prices on one hand and faltering economic performance on the other could indicate the formation of a bubble. Kindleberger’s axiom that asset price bubbles depend on excess liquidity may face another test. Lower Treasury Bond Yields Ahead With continued weak nominal growth, Treasury bond yields are likely to continue declining. Further declines in European and Japanese government bond yields may be limited since those yields are already so low. Higher US yields offer global investors an incentive to continue to move funds into the US; thus ample downside still exists for long Treasury bond yields. The dollar has already appreciated sharply, reaching its highest level in five to eight years (depending on the measure used). In many industries, the price leader in the US is a foreign producer. Dollar rallies cause what economists call the “collapsing umbrella.” As the dollar rises, the foreign producer cuts US selling prices, forcing domestic producers to match the lower prices. Given the weak outlook for nominal GDP and the prospect of lower inflation, this is a favorable environment for falling Treasury bond yields. With foreign income faltering and the strong dollar raising the cost of our exports, the non-petroleum deficit is likely to widen considerably in 2015, causing another drag on US business prospects. Two considerations in addition to the yield differential suggest the dollar should hold or even extend its gains. First, despite the US’s poor economic performance thus far in 2014, its growth shines in comparison to Europe and Japan. Second, the US remains less indebted than Japan or Europe. These factors combine to give global investors additional confidence in the greenback and should lead to lower long-term Treasury bond yields, and higher prices. This forecast originally appeared in The Casey Report, our monthly publication dedicated to identifying and profiting from big-picture trends. Click here to subscribe. Dr. Lacy H. Hunt is executive vice president of Hoisington Investment Management Company ($4.5 billion under management) and author of two books, and articles in Barron’s, the Wall Street Journal, the New York Times, the Journal of Finance, the Financial Analysts Journal, Business Economic, and the Journal of Portfolio Management. Previously, he was the chief US economist for the HSBC Group and senior economist for the Federal Reserve Bank of Dallas.
Editor’s Note: Are you prepared for the stock market to go nowhere for 10 years? In today’s Weekend Edition, Agora founder Bill Bonner argues that we’re entering a decade-long bear market… and explains what you should own instead of stocks. Bill originally wrote this essay on January 7, 2016, in Bill Bonner’s Diary. By Bill Bonner, editor, The Bill Bonner Letter Readers frequently accuse us of being “negative” or “depressing.” Recently, one even charged us with fanning the fires of fear and fright to sell newsletter services. We deny it. Fear doesn’t sell financial services. Ask Goldman. Wall Street sells greed, not fear. It promises profits, not losses. It offers dreams of wealth, not nightmares of poverty. Besides, when you see prices falling, you just go to cash. You don’t need expensive trading advice. We monger neither fear nor greed. Our only mission is to try – feebly… humbly… uncertainly – to connect the dots. Of course, the dots are many… and they are everywhere. Like a Rorschach test, we risk seeing only what we want to see. But you can’t see anything if you don’t look. So, we squint… we strain our eyes. And what do we see? A top! And then what? A secular downturn when stocks will go down – or nowhere – for the next 10 years. If we’re right, a lot of fortunes, jobs, reputations, and mojos will be lost. Defaults, depressions, disruptions, deflation – we’ll probably see a little of them (or a lot!). Many dear readers find this unappealing; they mistrust our motives. They seem to think that because we see clouds on the horizon, we must want it to rain! But wait… They are right. That is the pattern we’ve been looking for! This parched earth needs a good soaking… and a healthy wash. But if readers think this is “negative,” they should blame themselves, not us. They are looking at the glass as half empty – but we only see the part that is full of Saint-Emilion Grand Cru 2006. Debt and Claptrap Look on the bright side… If we’re right, you’ll get a lot more for your money in the stock market 10 years from now. Not only that, but also much of the debt and claptrap that now strangles the system will have been purged. Greenspan, Bernanke, and Yellen will finally be regarded as the rascals and flimflam artists they really are. Businesses that should have gone bust in 2008 will finally hit the wall. And the speculators, bankers, and bamboozlers who should have been bankrupted in the last crisis will finally get what’s coming to them in the next one. Yes, some investors will feel the pain. The economy will suffer. It will be bent by bitter fate and outrageous fortune… but into a better shape! A stock market correction is not something to be feared. It is something to look forward to… something to be embraced, like a plumber who has come to unclog your bathroom drain. It may get messy – but what a relief it will be to have the toilet working again. We saw a headline recently that recommended that investors short – that is, bet against – U.S. stocks. That will probably turn out to be good advice. But it suggests a level of confidence we don’t have. Getting out is good enough for us. Cash Is (Still) King But get out of stocks and into what? Cash, dear reader… cash. No financial services needed. Cash is king now. And it will be until we come to the next major pivot point. Study those dots… The Fed has favored easy credit for at least the last 20 years – quickly cutting rates in the face of even the smallest signs of adversity and dragging its feet when it was time to raise them. Each time a contraction of credit begins, the Fed reacts with even lower short-term interest rates. And each time it drops the price of credit… it creates another bubble. The Nasdaq bubble in the late 1990s… the housing bubble that followed… and now the nascent bubble in student debt, corporate debt, sovereign debt… and a small group of tech stocks that has raised U.S. stock market indexes to rare and dangerous highs. And now, the Fed imagines that it is going to return to “normal”! That was the way the dots looked when 2015 adjourned. In 2016, there are new dots appearing… and old patterns are coming into sharper focus. What do we see now? Uh-oh… Nobel Prize winner Robert Shiller’s cyclically adjusted price-to-earnings ratio – or CAPE ratio – tries to get a truer picture of value by looking at the average of the past 10 years of earnings and adjusting for inflation. And by this measure, only three times in the last 135 years has the S&P 500 been more expensive – in 1929, 2000, and 2007. All three times were followed by major market crashes. Some excitement is coming… Stay tuned. Regards, Recommended Links – — Access to Jim Rickards’ Site Jim Rickards is becoming a busy man after the Paris terrorist attacks. Most people who’ve read Jim’s books… or know his work with the CIA… want to know the answer to these questions: “Jim, how’d you build a tool (Project Prophesy) that helped predict a terrorist attack before it happened?… “And what’s that tool predicting now?” The truth is Jim’s predictive model uses a mathematical code that was actually suppressed by governments for 21 years. And not only can it predict the next terrorist attack but the next big move in financial markets. Click here now to see how it works. “You’re Welcome, Dad” Back in 2009, New York resident Edward Dyson saw his retirement account cut in half. Today, he’s earned over $40,000 in “side income” thanks to his son’s “5-minute income technique.” To discover Dyson’s secret, click here. Bill Editor’s Note: Like Doug Casey, Bill Bonner believes a massive financial crisis is coming that will wipe out Americans who aren’t prepared. He recently put together a video presentation explaining what this crisis will look like… and how to protect yourself from it. Right now, you can gain access to all of Bill’s research to prepare yourself for this inevitable crisis. Get the full details here.
I’ve said it before, and I’ll say it again: When the public gets the bit in its teeth and wants to buy gold stocks, it’s going to be like trying to siphon the contents of the Hoover Dam through a garden hose.Gold stocks, as a class, are going to be explosive. Now, you’ve got to remember that most of them are junk. Most will never, ever find an economical deposit. But it’s hopes and dreams that drive them, not reality, and even those without merit can still go up 10, 20, or 30 times your entry price.And companies that actually have the goods can go much higher than that.You buy gold, the metal, because you’re prudent. It’s for safety, liquidity, insurance. The gold stocks, even though they explore for or mine gold, are at the polar opposite of the investment spectrum; you buy them for their extreme volatility, and the chance they offer for spectacular gains. It’s rather paradoxical, actually.Why Gold Stocks Are an Ideal “Asymmetric Bet”Because these stocks have the potential to go 10, 50, or even 100 times your entry price, they offer something called “asymmetry.”You probably learned about symmetry in grade school. It’s when the parts of something have equal form and size. For example, cut a square in half and the two parts are symmetrical.Symmetry is attractive in some forms. The more symmetrical someone’s face is, the more physically attractive they are considered to be. Symmetry is often attractive in architecture.But when it comes to investing and speculating in the financial markets, the expert financial operator eschews symmetry. Symmetry is for suckers.The expert financial operator hunts for extreme asymmetry.An asymmetric bet is one where the potential upside of a position greatly exceeds its potential downside. If you risk $1 for the chance of making $20, you’re making an asymmetric bet.Amateur investors too often risk 100% of their money in the pursuit of a 100% return. These are horrible odds that the financially and statistically illiterate flock towards…the kind you find in casinos and most sports betting. It’s one of the key reasons most people struggle in the market.I’ve always been more attracted to asymmetric bets…where I stand a good chance of making 10, 50, even 100 times the amount I’m risking. I’m not interested in even bets. I’m only taking the field if my potential upside is much, much greater than my potential downside.Because of the extreme asymmetry gold stocks offer—because of their extreme upside potential—you don’t have to take a big position in them to make a huge impact on your net worth. A modest investment of $25,000 right now could turn into $500,000 in five years. It has happened before and it will happen again.Right now gold stocks are near a historic low. I’m buying them aggressively. At this point, it’s possible that the shares of a quality exploration company or a quality development company (i.e., one that has found a deposit and is advancing it toward production) could still go down 10, 20, 30, or even 50 percent. But there’s an excellent chance that the same stock will go up by 10, 50, or even 100 times.I hate to use such hard-to-believe numbers, but that is the way this market works.When the coming resource bubble is ignited, the odds are excellent we’ll be laughing all the way to the bank in a few years.No one, including me, knows that the Mania Phase is just around the corner. But I’ve operated in this market for over 40 years. This is a very reasonable time to be buying these stocks. And it’s absolutely a good time to start educating yourself about them.There’s an excellent chance a truly massive bubble is going to be ignited in this area. If so, the returns are going to be historic.Editor’s note: With gold already up 27% this year (and gold miners hitting new highs today), the window for this opportunity is getting smaller by the day.To help you take advantage of this rare situation, Doug is doing something he’s never done before. After 40 years in the gold market, he’s now stepping forward and sharing the method he personally used to make millions of dollars in gold stocks…including gains of 487%, 711%, and even 4,329%.You can learn all about “The Casey Method” by watching this free new video. You’ll also learn how to access a special report that names nine gold stocks with huge potential upside. Each of these stocks could rise 100%, 200%, or more in the coming years.Just don’t wait to take action. This offer closes Sunday at midnight. Click here to learn more.How to Safely Invest in the Coming Gold BoomToday, we’re featuring another short presentation from our colleagues at Palm Beach Research Group, Tom Dyson and Teeka Tiwari.In the four-minute video below, Tom and Teeka talk about opportunities they see taking shape in the gold market. They explain why they’re bullish on gold…what could cause gold to soar…and how you can “get paid” for owning certain gold stocks.If you like what you saw, we recommend you sign up for Tom and Teeka’s “speed round” training series. Click here to get started. If You Own Gold, Read This Warning by August 14Due to recent market volatility, many readers are eager to take action and wondering, “What’s next for Gold?” But before you consider buying or selling gold, we strongly encourage you to check out a summary from one of the world’s leading gold experts. You should watch by Sunday, August 14. Click here to view. Recommended Links — ATTN: These Small Caps Are Set to Soar!On Tuesday, August 16, Palm Beach Research Group editors Teeka Tiwari and Tom Dyson will reveal confidential information they’ve never before shared with the public. This information includes the names of three small-cap opportunities that could return 500% or more in the coming months. If you’d like to receive this information on Aug. 16, click here. We’ll send you a special bonus when you do. – Editor’s note: Opportunities to make 50 times your money don’t come around often. But right now, one is staring us in the face.Today, Casey Research founder Doug Casey explains the rare opportunity shaping up in today’s gold market. As you’ll see, gold stocks could deliver historic gains in the years ahead…and NOW is the time to take advantage…Regular readers know why I believe the gold price is poised to move from its current level of around $1,340 per ounce to $1,500…$2,000…and eventually past $3,000.Right now, we are exiting the eye of the giant financial hurricane that we entered in 2007, and we’re going into its trailing edge. It’s going to be much more severe, different, and longer lasting than what we saw in 2008 and 2009.In a desperate attempt to stave off a day of financial reckoning during the 2008 financial crisis, global central banks began printing trillions of new currency units. The printing continues to this day. And it’s not just the Federal Reserve that’s doing it: it’s just the leader of the pack. The U.S., Japan, Europe, China…all major central banks are participating in the biggest increase in global monetary units in history.These reckless policies have produced not just billions, but trillions in malinvestment that will inevitably be liquidated. This will lead us to an economic disaster that will in many ways dwarf the Great Depression of 1929–1946. Paper currencies will fall apart, as they have many times throughout history.This isn’t some vague prediction about the future. It’s happening right now. The Canadian dollar has lost 26% of its value since 2013. The Australian dollar has lost 29% of its value during the same time. The Japanese yen and the euro have crashed in value. And the U.S. dollar is currently just the healthiest horse on its way to the glue factory.These moves show that we’re in the early stages of a currency crisis. But if you make the right moves, you could actually make windfall gains instead of suffering losses. Here’s how to do it…The huge winner during this crisis will be the only currency that has real value: gold.Gold has been used as money for thousands of years because it has a unique combination of qualities. Very briefly, it’s durable, easily divisible, convenient to carry, consistent around the world, and has value in and of itself. Just as important, governments can’t create gold out of thin air. It’s the only financial asset that’s not simultaneously someone else’s liability.When people wake up and realize that most banks and governments are bankrupt, they’ll flock to gold…just as they’ve done for centuries. Gold will rise multiples of its current value. I expect a 200% rise from current levels, at the minimum. There are many reasons, which we don’t have room to cover here, why gold could see a 400% or 500% gain.This should produce a corresponding bull market in gold stocks…perhaps of a magnitude we’ve never seen. A true mania for gold stocks could develop over the coming years. This could make anyone who buys gold stocks at their current depressed levels very rich.What History Teaches Us About Great SpeculationsMany of the best speculations have a political element to them.Governments are constantly creating distortions in the market, causing misallocations of capital. Whenever possible, the speculator tries to find out what these distortions are, because their consequences are predictable.They result in trends you can bet on. Because you can almost always count on the government to do the wrong thing, you can almost always safely bet against them. It’s as if the government were guaranteeing your success.The classic example, not just coincidentally, concerns gold.The U.S. government suppressed its price for decades while creating huge numbers of dollars before it exploded upward in 1971. Speculators who understood some basic economics positioned themselves accordingly. Over the next nine years, gold climbed more than 2,000% and many gold stocks climbed by more than 5,000%.Governments are constantly manipulating and distorting the monetary situation. Gold in particular, as the market’s alternative to government money, is always affected by that. So gold stocks are really a way to short government—or go long on government stupidity, as it were.The bad news is that governments act chaotically, spastically.The beast jerks to the tugs on its strings held by various puppeteers. But while it’s often hard to predict price movements in the short-term, the long-term is a near certainty. You can bet confidently on the end results of chronic government monetary stupidity.Mining stocks are extremely volatile for that very same reason. That’s good news, however, because volatility makes it possible, from time to time, to get not just doubles or triples but 10-baggers, 20-baggers, and even 100-to-1 shots.When gold starts moving higher, it’s going to direct a lot of attention towards gold stocks. When people get gold fever, they are not just driven by greed, they’re usually driven by fear as well, so you get both of the most powerful market motivators working for you at once. It’s a rare class of securities that can benefit from fear and greed at once.Remember that the Fed‘s pumping-up of the money supply ignited a huge bubble in tech stocks in the late 90s, and then an even more massive global bubble in real estate that burst in 2008. But they’re still creating tons of dollars.This will inevitably ignite other asset bubbles. Where? I can’t say for certain, but I say the odds are extremely high that as gold goes up, a lot of this funny money is going to be directed into these gold stocks, which are not just a microcap area of the market but a nanocap area of the market. The combined market capitalization of the 10 biggest U.S.-listed gold stocks is less than 29% of the size of Facebook.
MONACO (AP) — Midfielder Tiemoue Bakayoko’s thumping header sent Monaco through to the Champions League quarterfinals as the home side beat Manchester City 3-1 on Wednesday to progress on the away goals rule in another pulsating match between two attack-minded sides.City fought back from 2-0 down and was momentarily back in control after midfielder Leroy Sane’s 71st-minute goal. But six minutes later Bakayoko rose imperiously to meet Thomas Lemar’s curling free kick and restore the two-goal margin Monaco needed as the contest finished 6-6 on aggregate.Trailing 5-3 from the first leg of their Round of 16 match, Monaco made the perfect start. Confirming his reputation as a rising star of European football, 18-year-old forward Kylian Mbappe scored from close range in the eighth minute for his 11th goal in 11 games.Brazilian midfielder Fabinho made it 2-0 in the 29th with a crisp shot from near the penalty spot after excellent work by left back Benjamin Mendy.Three weeks ago, City had rallied from 3-2 down with three goals in the last 20 minutes and Pep Guardiola’s side needed another comeback on the French Riviera.City played much better in the second half, with Sane scoring after City top scorer Sergio Aguero had missed good chances.The fleet-footed Sane was one of City’s best players in the first leg and came alive after the break, smashing the ball into the roof of the net after Danijel Subasic’s save from Raheem Sterling’s low shot fell right into his path.That gave City hope.But it was not enough, and Monaco’s players rushed to the center circle to mob each other as the final whistle blew.In the night’s other match, Atletico Madrid also reached the quarterfinals, drawing 0-0 at home to Bayer Leverkusen to advance 4-2 on aggregate.TweetPinShare0 Shares
BARCELONA, Spain (AP) — Barcelona has hired former player Ernesto Valverde as its new coach.The club confirmed on Monday that the longtime Athletic Bilbao and Olympiacos manager will replace Luis Enrique, who ended his three-year stint after winning the Copa del Rey on Saturday.A former forward, the 53-year-old Valverde played two seasons with Barcelona in the late 1980s and was coached by Johan Cruyff, the Dutch great who gave Barcelona its winning identity.The expected announcement was made by Barcelona president Josep Bartomeu after a club board meeting.Valverde’s official introduction will be on Thursday.The calm-mannered Valverde is known for an attacking style that should fit well with Barcelona.His teams prioritize ball possession and like to pressure high in the attack while without the ball. His most used scheme with Athletic was the 4-2-3-1, with a true striker up front.It was a style that helped Athletic play offensively and remain highly competitive, constantly fighting for qualification spots in European competitions. It finished seventh in the Spanish league.Valverde led Athletic to victory over Barcelona in the final of the 2015 Spanish Super Cup, which marked the team’s first title in more than three decades. It won the first leg of that final 4-0 with an inspiring performance at its San Mames Stadium.He announced he was leaving Athletic last week after four seasons. He also coached Athletic from 2003-05. Valverde has coached the most matches in Athletic’s history. He also played for the club from 1990-96.His other jobs were at Espanyol, Olympiakos, Villarreal and Valencia. He led Espanyol to the UEFA Cup final in 2007, losing to Sevilla in a penalty shootout.Luis Enrique left Barcelona this weekend after helping the club win nine titles out of a possible 13 in the three seasons he was with the Catalan club. He made the surprise announcement he would quit back in March, saying he needed to rest.It was Barcelona’s worst season under Luis Enrique, despite winning two titles, the Spanish Super Cup and the Copa del Rey. It was eliminated by Juventus in the quarterfinals of the Champions League and lost the Spanish league to Real Madrid in the final round.Valverde will have in his hands a team with Lionel Messi, Neymar and Luis Suarez, but he will eventually need to start revamping part of an aging squad that includes veterans Andres Iniesta, Javier Mascherano and Gerard Pique.His first official match will likely be against rival Real Madrid in the Spanish Super Cup final in August.TweetPinShare22 Shares
ZAGREB, Croatia (AP) — Croatia’s state attorney has questioned Real Madrid midfielder Luka Modric amid accusations that he falsely testified about his financial deals with a former Dinamo Zagreb director charged with embezzlement and tax fraud.Modric said Wednesday his “conscience is clear” after questioning for suspected perjury in the eastern town of Osijek.Prosecutors have said Modric gave a false statement to a court last month about his 2008 transfer from Dinamo to Tottenham. He moved to Real Madrid in 2012.Modric told the court he had a deal with former Dinamo director Zdravko Mamic to pay the club 50 percent of the 21 million euro ($23 million) contract. Mamic, who has denied any wrongoing, allegedly took an unspecified chunk.If charged and found guilty, Modric could face up to five years in prison.TweetPinShare0 Shares
MILWAUKEE (AP) — The Milwaukee Bucks proved they could thrive, at least temporarily, without their franchise player.With Giannis Antetokounmpo sidelined to start the second half while being evaluated for a possible concussion, the Bucks built a big third-quarter lead and cruised to a 113-91 win over the Orlando Magic on Saturday night.The Bucks have won six consecutive games to start the season, one shy of the record set by the 1971-72 team. The win sets up a Monday night showdown in Milwaukee with the Toronto Raptors, the league’s only other unbeaten team.Antetokounmpo, who finished with 21 points in a season-low 19 minutes, fell to the floor underneath the basket midway through the first quarter after catching an elbow from the Magic’s Aaron Gordon.“I just got hit in the head,” Antetokounmpo said. “I tried to block the shot. I fell down. I don’t remember much after that. I have to be careful with that. We did some (concussion) tests in the second quarter and some additional tests in the third quarter.”When asked what he remembered about the play, Antetokoumpo said he was “probably knocked out.”“I just remember the hit. But I’m fine,” he said.Milwaukee coach Mike Budenholzer noted that Antetokounmpo continued to play close to his normal minutes in the first half after the blow to the head before being sent back to the locker room to undergo further tests after halftime. Antetokounmpo played 3 minutes in the fourth quarter.“We just wanted to be extra cautious, make sure everything was OK and give him an extra look,” Budenholzer said.Gordon described Antetokounmpo as “tough” for coming back out on the court.“He is resilient. I hit him with the elbow, unintentionally,” Gordon said. “It was hard. Props to him for coming back into the game.”Khris Middleton added 18 points and Malcolm Brogdon scored 16 for the Bucks, who were coming off a 125-95 blowout of the Minnesota Timberwolves on the road on Friday night in which they made 19 3-pointers on 46 attempts, both season highs.Milwaukee connected on just 10 of 30 shots from long range against the Magic.Nikola Vucevic had 16 points and nine rebounds for Orlando. D.J. Augustin added 11, all in the first half. The Magic shot 32 percent from the field overall and 23 percent from 3-point range.“We didn’t do a good job playing our game tonight,” Vucevic said.The Magic attempted a franchise-record 43 3-pointers and made 10.“It is part of our game plan to have a lot of us shooting 3s and space the floor,” Vucevic said. “Our 3s tonight weren’t exactly good ones. You can’t just shoot any shot. You’ve got to make sure you work for the right one.”After a tightly contested first quarter in which Orlando led by five at one point, the Bucks took control in the second and built a 14-point lead at the half. Antetokounmpo had 15 first-half points, while Middleton had 12.Milwaukee’s lead grew to 26 in the third with Antetokoumpo on the bench for the entire period. The Bucks closed the quarter on an 11-1 run and headed to the fourth with a 93-68 lead.LESS WEAR AND TEARAlthough it took a shot to the head to keep him off the court on Saturday night, Antetokounmpo only logged 23 minutes of playing time on Friday night in the blowout win. He said he appreciates the rest during back-to-back games.“I know when I’m 40 and I’m retired, I’m going to be able to chase my kids and I’m still going to have my knees and I’m not going to look for knees on eBay,” Antetokounmpo said.TIP-INSMagic: Didn’t lead after first quarter. … The Bucks’ high-powered offense is getting a lot of attention, but Orlando coach Steve Clifford sees another reason for Milwaukee’s early-season success. “To me, their offense is one thing, but they were a top-10 offensive team last year,” Clifford said. “It’s the defense though that is making a bigger difference.”Bucks: Rookie Donte DiVincenzo had a season-best 15 points, including back-to-back baskets late in the third quarter, topping his previous high of nine points set Friday night. .Ersan Ilyasova pulled down 10 rebounds. … Budenholzer called a timeout with a 27-point lead late in fourth quarter after his team surrendered an easy basket.UP NEXTMagic: Host Sacramento on Tuesday.Bucks: Host Toronto on Monday.By RICH ROVITO , Associated PressTweetPinShare0 Shares
PERTH, Australia (AP) — Serena Williams overcame a sluggish start to power past Maria Sakkari in straight-sets at the Hopman Cup on Monday in her first competitive match since melting down in the U.S. Open final.The 37-year-old was rusty and down an early break but did enough to record a comfortable 7-6 (3), 6-2 victory in one hour and 44 minutes in the women’s singles match.The result leveled the tie between the United States and Greece, but Williams and playing partner Frances Tiafoe lost the later mixed doubles match in three sets to Sakkari and Stefanos Tsitsipas .Even though both her ankles were strapped and required medical attention during the change of sets, Williams moved freely and looked sharper as the match wore on.“It was my first match back. I was making a lot of errors,” Williams said. “It was great to be back out on match day.”The 23-time Grand Slam singles champion lost an exhibition match against sister Venus in Abu Dhabi last week, but the Hopman Cup is her first competitive event since her controversial defeat to Japan’s Naomi Osaka at Flushing Meadows in September.It was an error-strewn start for Williams, who struggled to land her first serve and was broken in the third game. She could have been in a bigger hole if not for saving break points in her first and third service games.A vocal Williams tried to pump herself up in a bid to shake off the stupor and raised her arms skyward after holding serve in the fifth game. A confident Sakkari held the edge until losing her nerve attempting to close out the set in the 10th game.Williams then found her range and dominated the tie break to wrap up the first set in 63 minutes. She broke twice in the second set and closed it out with an ace.Williams is a two-time Hopman Cup winner, having triumphed in 2003 with James Blake and five years later alongside Mardy Fish.In the earlier men’s singles match, No.15 ranked Tsitsipas overcame a second set wobble to defeat Tiafoe 6-3, 6-7 (3), 6-3. It was a confidence boost for the Greek rising star after his shock straight-sets loss to unheralded British played Cameron Norrie on Saturday.The fancied Greece kept its tournament alive with a 4-1, 1-4, 4-2 victory in the mixed doubles after an opening defeat against Britain.The United States will battle Switzerland in a showpiece fixture on Tuesday, which pits Williams against fellow tennis legend Roger Federer in the mixed doubles.“As a player it’s something that you would dream of playing Roger Federer,” Williams told reporters. “It’s only mixed doubles, but still it’s like a dream come true for me.”The 37-year-olds have won 43 Grand Slam singles titles between them — Federer a record 20 in men’s tennis — and are arguably the best ever.The match in Perth is expected to be a sellout.“I really look forward to sharing the stadium with him,” said Williams, who will be chasing a record-equaling 24th major at the Australian Open next month. “It’s going to be special.”Their showdown has added spice, with the United States’ title hopes hanging by a thread after the loss to Greece.___By TRISTAN LAVALETTE, Associated PressMore AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_SportsTweetPinShare0 Shares
As congressional Republicans and the Trump administration keep chipping away at the Affordable Care Act, a number of states are enacting laws that aim to safeguard its central provisions.The GOP tax plan approved by Congress in the last days of 2017 repealed the ACA penalty for people who fail to carry health insurance, a provision called the individual mandate.But before that federal change happens next year, some states are working to preserve the effects of the mandate by creating their own versions of it.Maryland is on the cutting edge with legislation moving through both chambers of the Statehouse.”We’ve been just struggling since Trump became president with how to protect the ACA in our state,” says Vincent DeMarco, president of the Maryland Citizens’ Health Initiative, a nonprofit organization that has been instrumental in pushing the measure.Proposals have also been advanced in at least nine other states, including California, Washington and Connecticut, and the District of Columbia.Creating an individual mandate is just one way that states — generally blue states where Democrats control the legislature — seek to ensure what many lawmakers view as key advances made by the ACA don’t disappear.And they’re looking to one another as test cases to see how state-level legislation can either buttress or alter the ACA, according to Trish Riley, the executive director of the National Academy for State Health Policy.”One state will try one approach, others will try it,” Riley says. “It’s an experiment and an important one.”Time is short since most states have limited legislative calendars and are fast approaching the deadlines for insurers to file their 2019 rate plans.Passing and implementing these kinds of measures will be tough, says Sabrina Corlette, a research professor at Georgetown University’s Health Policy Institute, but adds: “I think there’s still a window of opportunity for states to do something and have an impact on 2019 premiums.”How it’s being doneThe federal individual mandate was put in place to make sure that younger, healthier people joined the insurance risk pool, helping to stabilize the market. The idea is that those customers help cover the insurers’ costs for sicker customers’ care, which keeps premium costs manageable.The Congressional Budget Office estimated that 13 million people nationwide would become uninsured without the individual mandate. Health care experts and insurance officials have offered strong warnings about what could become of the individual insurance market without intervention.Most states that are contemplating replicating the insurance requirement have opted to follow the path put in place by the federal mandate.Maryland goes one step further, using the tax penalty, advocates say, as a “down payment” on an insurance policy.Beginning in 2020, if someone in the state indicates on their taxes that they’re uninsured, instead of simply depositing the fine in a general fund, Maryland would use it, plus any tax credits from the federal government, to buy an insurance plan for that individual.The state would match its residents only with plans that cost nothing more than the fine plus the federal subsidy. So, if such a plan isn’t available in a person’s area, the state will hold on to the money in an interest-bearing account until the next open enrollment season. Then, the person has another chance to buy insurance. If at this time they don’t purchase a plan, the state will deposit the money into an insurance stabilization fund.But Jason Levitis, a senior fellow at Yale Law School’s Solomon Center for Health Law and Policy, who has been instrumental in helping other states craft their own proposals, cautioned that this kind of approach could face administrative challenges.States that follow a path that tracks more closely with the federal mandate, he says, will have an easier time implementing it because regulators have already had five years of experience enforcing it. That’s why he favors approaches that use the same terminology, definitions and basic structure as the federal mandate.Still, Levitis praises the Maryland plan: “There’s something attractive about the idea there, that you put this money … towards coverage.”But a sampling of pending state proposals highlights a common theme. “All the mandate efforts are based on the federal one,” Levitis says. “The variations are what you put on top, [how states] individually keep track of the money people pay and use it for healthcare services.”He points to Connecticut as an example. It has two bills pending in its legislature – one that closely mirrors the federal mandate, but with slightly lower fines, and another in which the fines would be deposited into health savings accounts for the individuals.Meanwhile, in New Jersey, a Senate panel advanced a two-bill approach this week that would collect a fee from residents who opt against buying health insurance. These fines would then be used to help pay the health care claims of people who are catastrophically ill.In the D.C., a health care working group recommended an individual mandate nearly identical to the federal one. The plan would require city council and Congressional approval to become law.Washington state has convened a group to study how to enforce a mandate and, in California, no legislation has been introduced yet.Kaiser Health News (KHN) is a nonprofit news service covering health issues. It is an editorially independent program of the Kaiser Family Foundation that is not affiliated with Kaiser Permanente. Copyright 2018 Kaiser Health News. To see more, visit Kaiser Health News.
Reuben Medlyne likes going to the local market in the Yaba district of Lagos, Nigeria’s largest city, to shop for clothes — especially the secondhand items that are a real bargain.But there’s a risk involved.”Whenever I visit Yaba Market, the traders start touching and harassing me immediately [after] I alight from a bus or a bike. I can’t help but reply ‘no touch me again,’ ” says Medlyne, who’s a student at the University of Lagos.It’s a common occurrence. In a poll of 105 women from February 2019, The Guardian Nigeria found that three quarters of those surveyed said they had experienced harassment at Nigerian markets.The traders say that’s just the way they drum up business. “We are hustlers, so sometimes we need to touch,” says Victor Robinson, who sells ladies’ trousers at Yaba.Another trader, Emmanuel Ugorji, says women bring on the harassment. “There are women that dress indecently, prompting the touching,” he says. “So it’s a sign they want men to touch them.”But now there’s pushback. Last October, Damilola Marcus started the Market March Movement to bring an end to sexual harassment at Yaba and other markets across the country.Marcus, an architect who runs a design studio in Lagos, was herself fed up with the catcalling and touching at the market.In December, Marcus staged a protest called “Market March” at Yaba Market. Women walked around the market wearing yellow T-shirts and signs inscribed with messages like “stop touching us.” The event trended on social media throughout the day.”I always knew it happens and it was a major problem and it would not be okay if everyone sits back and [does] not do anything about it. I believe in the power of protest and the belief that citizens have the right to protest,” she says.As the women protested, chanting “stop touching us,” some furious male traders threw stones and sachets of water at them.”We must touch,” the men chanted in response.According to Lagos state criminal law, sexual harassment is a felony, subject to three years imprisonment. But Marcus laments the lack of implementation by the police.In January, she started an online petition to push for better enforcement of the law. Currently, it has 37,382 signatures. “We want the traders who harass women to bear the consequences for their actions,” says Marcus.The petition also calls for the police force to create a special anti-sexual harassment squad, with the power to directly punish those who harass women in markets. Currently, the police can only arrest and bring perpetrators to court, where the judiciary would then assign a punishment. Marcus hopes to deliver the petition to the government when it reaches 50,000 signatures.The Lagos State Domestic and Sexual Violence Response Team says penalties are put in place to punish defaulters of market/sexual harassment, but such penalties vary based on the extent of the crime committed. Some of the punishments include imprisonment or restraining orders.”Over the years, we have been engaging market men and women across all the local governments in Lagos state on the issue of sexual harassment,” says Damilare Adewusi, a social worker with the response team. The team helps people understand Nigeria’s laws around harassment — and refers suspects to the appropriate authorities.Adewusi told NPR that the response team is aware of the Market March Movement.”It gladdens our heart [that Market March is fighting sexual harassment] and as we know, we cannot solve this social issue alone. The fight against sexual offences in our communities does not lie on the shoulder of the government alone but with all enlightened individuals vying for an end to this evil practice in our society,” says Adewusi.There was a march at Ogbete market in Enugu, a state in southeast Nigeria on March 23. Market March plans to take the protests to other markets. Two markets in Lagos will be visited sometime this year.Market March has been effective at reducing market harassment in markets, says Jekein Lato-Unah, head of projects and human rights and advocacy at Stand to End Rape Initiative, a nonprofit organization that focuses on creating awareness on violence against women and girls and who’s not involved with the Market March movement.”I visited the market sometime in January this year and what used to be five to ten men verbally harassing me was reduced to just one man raining curses on me because I told him off. We don’t expect change immediately but it’s good to know a lot of them digested Market March messages,” Lato-Unah says.Some of the traders who had been interviewed for this story said that the protest has changed a lot of things in Yaba. “The [Market March movement] created an awareness. Many traders have stopped to touch women. I don’t touch again. I raise the clothes for them to see,” says Robinson, a trader at the market.Medlyne stopped going to Yaba market for a while because of her experience with harassment. But she was surprised when she visited two weeks after the protest was held on December 15.”I went there to shop and I also wanted to know if the Yaba Market March really worked. I got to Yaba and I went from stall to stall,” Medlyne says. “On a normal day, the male traders [would] drag and force me to follow them but they didn’t. One of them said, ‘Sister come I get jeans, come na, I no go touch you.’ I just laughed and walked away.”Kelechukwu Iruoma is a freelance journalist covering global health, agriculture and development. He was a reporting fellow with the International Center for Journalists in 2017. Follow him @kelechukuiruoma. Copyright 2019 NPR. To see more, visit https://www.npr.org.
GE harvests and reuses parts from its systems.Last updated on May 15th, 2019 at 04:52 pmAn affiliate of Pennsylvania-based Exeter Property Group has sold GE Healthcare’s repair operations facility in Oak Creek for $31.1 million, according to state records.GE Healthcare will continue to occupy the facility.The building at 120 W. Opus Drive sold to Thomson Logistics Assets LLC, which is registered to an address in Delaware but lists Mapletree Investments Pte Ltd in Singapore as its principal office. Mapletree is a real estate development, investment and capital management firm based in Singapore with $39.5 billion in assets under management.As a 280,000-square-foot facility the building was assessed at $12 million in 2016. Exeter submitted plans to the city of Oak Creek last year for a 48,000-square-foot expansion.GE Healthcare relocated its repair operations to the facility in 2016, consolidating several facilities under one roof in the process. Get our email updatesBizTimes DailyManufacturing WeeklyNonprofit WeeklyReal Estate WeeklySaturday Top 10Wisconsin Morning Headlines Subscribe
Last updated on June 27th, 2019 at 12:15 pmMilwaukee area insurance brokerage and employee benefits firm HNI Risk Services has been bought by Michigan-based Acrisure LLC, a move that will allow the New Berlin-based company to embrace new growth opportunities, said chief executive officer Mike Natalizio.As an agency partner of Acrisure, HNI will maintain its same name, local leadership and employees. The deal closed Dec. 31.Natalizio“There will be absolutely no changes to the day to day operations for HNI,” Natalizio said. “It’s business as usual. The same leadership and the same decision makers, the same office and the same staff.” The deal will allow HNI to propel its own growth by drawing from the resources and scale of the large brokerage firm, Natalizio said.“We will be looking at growing through organic growth, taking our services national and also through M&A,” he said. “We’ll be looking at merging and acquiring brokers across the Midwest.”Based in Grand Rapid, Michigan, Acrisure has about 282 agency partners with nearly 400 locations and 6,000 employees in total. The company advertises itself as the 10th largest insurance brokerage in the United States. Acrisure has 145 employees, according to its website.“We seek out high-performing entrepreneurial agencies that will embrace the model and look to continue to be successful in what they do,” said Colleen O’Hara, executive vice president of marketing and communications for Acrisure, regarding the acquisition.HNI focuses on working with mid-sized organizations, with its largest industry groups being transportation, construction, manufacturing and nonprofits.In addition to its New Berlin headquarters, HNI has offices in Bloomington, Minnesota and Inverness, Illinois.The terms of the deal were not disclosed. Get our email updatesBizTimes DailyManufacturing WeeklyNonprofit WeeklyReal Estate WeeklySaturday Top 10Wisconsin Morning Headlines Subscribe
By UPF Asia, Robert Kittel: The Universal Peace Federation was honored and grateful to partner with the United Nations Information Centre, Colombo for our recently-concluded national speaking tour in Sri Lanka.In less than three months after the United Nations adopted their Sustainable Development Goals (SDG) in September of this year, Sri Lanka may well be the first nation in the world to complete a national tour to raise public awareness and promote the SDGs in every province (state).Together we traveled to all nine provinces of this beautiful island nation promoting the Sustainable Development Goals of the UN. In addition to the one day set aside for meeting VIPs, the program was concluded in 10 days, Dec. 4-13, 2015.It was a win-win situation. UPF addressed peace and development at the micro level focusing on the family. This was complemented by the UN presentations that highlighted implementing the 17 SDGs at the community and national levels.The UN team was led by Mrs. Hiranthi Gunawardena, the Officer-in-Charge of the United Nations Information Center. Presentations by UN youth leaders were professional, informative, and interactive. The UPF team was led by Dr. Chung Sik Yong, the Regional President of the UPF in Asia.The tour had the support of the Government to Sri Lanka at the highest levels. The President of Sri Lanka, H.E. Maithripala Sirisena, met with a delegation during the tour and reiterated his government’s support for the UN SDGs. The UN and UPF delegates also met with the Hon. Karu Jayasuriya, Speaker of the Parliament of Sri Lanka, in his office.In addition, the former Prime Minister, Hon. Prime Minister D.M. Jayarathne, cabinet ministers, ministers, deputy ministers, chief ministers, and members of parliament, both at the national and local levels, attended and supported programs in every city.Equally important, religious leaders, educators, and leaders of civil society also participated. Perhaps most significantly, nearly 3,000 youth leaders covering all nine venues attended these presentations.
Prepared by FFWPU USAAbout 650 people gathered for the 13th annual Blessed Culture and Sports Festival (BCSF) at Unification Theological seminary in Barrytown, New York on August 9th through August 13th. People from all across America, and even from Canada, Japan and Germany gathered to camp together, play sports, and celebrate the culture of our faith community. The festival was kicked off on Wednesday evening with opening remarks from Dr. Ki Hoon Kim, who told us how his heart feels right at home with all these young people, and encouraged everyone to feel True Mother’s love through the activities. Toyomichi Hagiwara, this year’s director, also welcomed the youth and young adults to the program.The theme of this year’s festival was “reunion”—and the camaraderie was palpable in the air throughout the week. This was compounded on Thursday evening, the first full day, when news reached us that a beloved older 2nd generation, Ed Abendroth from the Maryland community, suddenly and unexpectedly passed away. (click here to support his family) Ed had always invested a lot into BCSF, and is so loved by those that know him, so the evening’s programs were postponed to allow time for those who knew him to pray and reflect. Meanwhile, people volunteered to do the food shopping for the Maryland community as a gesture of love and support for those closest to him.As always, a huge highlight of BCSF was the fierce but positive competition that all the communities brought to the field. Tournaments of Soccer, Frisbee, Volleyball, Basketball, Badminton, and even Matanagae were held. There was also a 5k race, a Mudder’s Trail, and for the first time ever, a game of S.K.A.T.E and a Rock-Climbing competition. In addition, “indoor sports” like poker, League of Legends, Pingpong, and a Harry Potter-themed escape room were heavily attended. There was also a fashion show, an open mic night, a film festival comprised of community members who submitted videos, Dance Mania, and even a Snapchat Geofilter Contest.“We knew that it was going to be a great game every time we stepped onto the field,” said Israel Marin, captain of the New York Frisbee team. “To be honest, the competition was so good! They didn’t make it easy. But I’m very grateful that what we put out on the field was everything we had, and you can’t ask for a better game than that.”The spiritual food was provided by daily hoon dok hae and yoga sessions, as well as a Thursday evening service (Junction) and a Sunday morning service. Richard Curry asked us to be intentional about how we spend our time, and Mika Deshotel reminded us that being there for people is often the most important thing we can do. This year, in an effort to ensure that everyone under 18 felt supported and cared for, we instituted a structured daily check-in with their guardian. Participants were asked to share about their day, how they were feeling, and one reflection question. This gave families and people of different generations the opportunity to connect with each other.On Saturday, Family Day was attended by 18 young families and their kids. Barbecue was served while kids played in a water-slide bouncy castle and other water activities, and had crafts and activities inside. KEA set up a foot-volleyball game, and a golf tournament was also held off-campus. Another huge highlight of the event was the Village, a foods-and-crafts fair that lined the driveway of the UTS Campus. Seventeen artists, programs, and food vendors came to showcase and sell their products—this also served as an opportunity for us to celebrate the arts and creativity of our community.BCSF is a place that people can come to truly be themselves. It’s the place that people can come to, no matter what they believe and what their life is outside of BCSF, and really enjoy the company of their community. We want BCSF to be a touchstone and a safe space, so that no matter what is going on in people’s lives, BCSF will still be here every year.“It was really amazing to be immersed in the culture that was inspired by True Parents,” said Karlsun Allen, director of general affairs. “There were a lot of young Unificationists and non-Unificationists interacting in love. Seeing that kind of culture is always really beautiful to be a part of. After this week, I feel closer to God and closer to my brothers and sisters.” To view the highlights of BCSF and be plugged in for next year, visit bcsfusa.com, or find us on Facebook, instagram @bcsfusa, and Snapchat (bcsf_snaps).
Lockdown duffle bag If You Still Have Any Of These 30 Toys, You Just Made A Ton Of… Finance 101 Which is More Dangerous – MMA or Football? Greatest Highlights of Anderson Silva’s Career Colby Covington rips ‘diva’ Robbie Lawler for leaving American Top Team over a photo Accessories Apparel Should Frankie Edgar finally fight at bantamweight? Coach Ricardo Almeida weighs in Latest From MMA Warehouse Morning Report: Jorge Masvidal praises Conor McGregor: ‘The dude is a f*cking G, bro’ Top Contenders for Fight of the Year MMA Fighting Latest From Our Partners ProMax 440 BJJ GI Gloves Nightmare Matchup for UFC’s Biggest Stars Old Photos Show Lucille Ball’s Real Life History 101 Sponsored Content Timeline of Israel Adesanya’s Rapid Rise to UFC Contender More: From a fighting point of view, Chael Sonnen said he doesn’t really care if he’s the last fight on the card or somewhere on the prelims. But “The American Gangster” told Ariel Helwani on Monday’s edition of The MMA Hour that he does have a different feeling now that he’s one of the headliners for Bellator 192 on Saturday.Sonnen only found out last Friday that he and Quinton Jackson would go on last at The Forum in Inglewood, Calif., after Bellator president Scott Coker first told The Sporting News. MMA Fighting was able to confirm the news as fact minutes later.Now that he knows, Sonnen admits that things have changed, at least slightly.“Maybe a little bit,” Sonnen said. “Only in this regard — my ego is more attached to it. Before, it was put on those guys, so my ego is directly related to the number of people in that arena that night. The first thing I do on Monday morning when I wake up is check the ratings. So, yeah I think I do feel a little bit differently. I like it.”It was presumed by many — Sonnen included — that the welterweight title fight between champion Douglas Lima and challenger Rory MacDonald would be the headliner for the big card. Sonnen said Bellator never told him directly either way, but he assumed Lima vs. MacDonald was last because of the prominence of their photos on the poster.“I don’t know what the reason is behind doing it,” Sonnen said. “I don’t think you get more viewers. It’s the same guys fighting, doing the same thing just 15 minutes apart. So I don’t know. Maybe I can learn something through this.”Coker said Monday on The MMA Hour that it was a decision made by parent company Viacom. The card will air on the newly re-branded Paramount Network.“If TV says what they want, that’s what they get,” said Coker, who added that he believes it’s the right decision.The actual order of bouts is of little importance to Sonnen, he said. He still has to beat Jackson to advance in the Bellator World Heavyweight Grand Prix, the winner of which will become Bellator heavyweight champion. The winner between Sonnen and Jackson on Saturday will face the winner of a bout between Fedor Emelianenko and Frank Mir.“Just as a fighter, that’s not something that ever factors in, whether you go first or last or you walk out first or you walk out second,” Sonnen said. “It’s not something that ever factors in or you feel slighted about. I don’t think that anybody would care. The job is the same. I don’t even know what the reason is for why they did it.”Sonnen and “Rampage” are the proven draws on the card. They each have headlined multiple UFC pay-per-view events and helped that the promotion reach 1 million buys on pay-per-view on more than one occasion. Lima and MacDonald are more relevant in their respective world divisions right now, though. And the bout is a five-rounder for a Bellator title. So the decision to switch things up has drawn criticism.“I didn’t get it,” Sonnen said. “Listen, I fight whenever my music hits those speakers, that’s when I leave that locker room. So I don’t know that one had anything to do with the other, but I hear your point on that. Traditionally, a title fight does go last. Let’s see what happens moving forward.” 00:09 Gordon Ryan Competition Kit More From Recommended by King Ryan Longsleeve Shirt Unsettling Photos From Notorious 70’s Night Club History 101 Standard Ranked Rashguard Good Night Tee [Pics] Woman Turns A Bus Into A Dream Home For Only 7000$, Take… Ice Pop Sale Turn To The Nerds To Compare The Best Credit Card For You NerdWallet The Best Attorneys in Los Angeles. See The Full List. Top Lawyers | Sponsored Listings Brock Lesnar’s WWE Future After UFC Retirement Dana White addresses contender status of Colby Covington, Leon Edwards, Corey Anderson Video: Aalon Cruz scores ridiculous jumping knee KO on Contender Series ABC passes rule alteration to definition of grounded fighter Standard BJJ Gi
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Watch Holloway, Cyborg Do Work Via Ghost Cam Accessories ProMax 440 BJJ GI Greatest Highlights of Anderson Silva’s Career Good Night Tee Brock Lesnar’s WWE Future After UFC Retirement Lockdown duffle bag MMAmania.com Bellator 208: “Fedor vs. Sonnen” takes place this Saturday night (Oct. 13, 2018) at Nassau Coliseum in Uniondale, N.Y., featuring the Heavyweight Grand Prix semifinal match between “The Last Emperor” Fedor Emelianenko (37-5, 1 NC) against “The American Gangster” Chael Sonnen (31-15-1).Earlier on the Paramount Network-televised main card two Lightweight stars will shine as former World Extreme Cagefighting (WEC) and Ultimate Fighting Championship (UFC) champion, Benson Henderson (25-8), puts his reputation and pride up against the four-fight win streak of his opponent, Saad Awad (23-9).“Smooth” is a name the combat sports world recognizes by virtue of his previous accomplishments, but after he signed with Bellator in 2016, Henderson went on to drop three of his first four fights. In fairness, it’s worth noting one was a five-round title fight and two were split decisions. Indeed, with a name like Henderson’s you don’t get easy fights. And he certainly didn’t draw an easy bout this weekend with Awad, who owns 10 wins by knockout and seven by submission. In fact, he hits so hard that he has a metal plate in his hand to keep it from breaking again. Damn, son.MMAmania.com recently chatted with Henderson about his impressive win against Roger Huerta and how satisfying it was to get back in the win column after two tough fights.“Oh man, it was so friggin’ relieving. It was so nice to go out there and have a good performance. The wins and losses, it is what it is, but ultimately what I am after — what we are after at The MMA Lab — is we are after great performances. We feel if you have a great performance, the wins and losses will take care of themselves and obviously there will be more wins than losses.”In fact, Henderson takes all the blame for not being at his best for the two straight losses that he suffered in Bellator.“Those two back-to-back split decision losses, I don’t think I had a great performance in either one of those. I had a decent performance, but not a great performance at all. It was great just to have a great performance and do what I do — go out there and shine and have fun, go crazy and get my hand raised on top of that.”Henderson gives credit to Huerta for making him step up and be at his best once again.“I would say he’s definitely resilient and tough as heck, because I kicked him square in the head and he looked at me and said, ‘Okay, let’s go, bring it’ and had big old cut on his head and just came forward. I was like, ‘Oh man, this is Roger Huerta here! There’s no quit in this boy here!’ He was bringing it, so it was a bit of an eye opener for me.”It’s fair — if not more accurate — to say the same of Awad. He’s riding a four-fight win streak with two decisions and two technical knockouts. And he just keeps on coming.“I’m excited for it — I like it! I think he’s a super tough guy, been around for a long time in Bellator, has a couple of big knockouts. (He has) big power in his hands, but my job … what’s going to be on me is to make sure that I don’t let him hit me. He’s going to try, and my job is gonna be to make sure that he doesn’t do that. He’s tough as heck. He has some holes in his game, and my job is gonna be to make sure I exploit those holes as much as I can.”Henderson says it’s possible that Awad is too tough for his own good, and given how many time he’s fractured his left hand, he may have a point.“That’s the problem with throwing so hard, that’s the problem with having big power in your hands, you have hand problems. If you’re like me you throw nice and soft, and I’ve never had any hand problems, never had hand surgery, never had a broken hand, that’s because I hit nice and soft!”To be fair, Henderson says he meant it “more jestingly” than factually, but given his lack of hand injuries and number of submissions (11) compared to knockouts (three), there may be something to it. What he’d really like to see is judges score strikes consistently.“Yeah, that’s what I always wonder with judges (*sighs*) going to seek a decision or not is, ‘How do they score?’ Does this judge score more for the little shots, and not the hard shots? Or does this judge score a lot more for power shots, and yadda yadda yadda.”If they can’t be consistent in how they evaluate a fight, Henderson says they could at least give fighters a heads up as to who is scoring their fight.“I’d love to know as far as scoring-wise who your judge is going to be during the fight so you can know a history of their past, how they scored fights and how they like to score. ‘Oh this judge scores a lot for submission attempts. This judge doesn’t really score submission attempts at all, but he scores a lot for a good submission defense.’ I would just like to know what the judge’s opinions are. ‘This judge really likes jiu-jitsu, this judge really likes boxing, this judge doesn’t care at all about kicks.’ If I could know that ahead of time, I could make sure I do what I need to do.”Henderson will take that risk of not knowing what the judges are going to do, let alone what Awad is going to do, and will go out there to have an exciting fight.“I’m going to do whatever he gives me. I’m going to set some things up and make him give me some things, but whatever it is he gives me (I’ll do). If I set up the big left hand and he has the big left hand, that’s no problem, I’ll go to the leg kick instead. If he’s not giving me leg kicks, he gives me the takedowns, I’ll go for the takedowns instead. I’m going take whatever Saad gives me.”Complete audio of our interview is embedded above, and complete coverage of “Sonnen vs. Fedor” resides here at MMA Mania all week long.To check out the latest Bellator MMA-related news and notes be sure to hit up our comprehensive news archive right here. Apparel
Devoted foodies and restaurant newbies love The Feed. Sign-up now for our twice weekly newsletter. 000 A Bigger, Boozier Troquet on South Opens in Early March While chef Scott Hebert is still making fine French cuisine, it’s pretty much an entirely new wine bar and restaurant. 2/21/2017, 5:32 p.m. By Jacqueline Cain· Sign up for The Feed. The latest on the city’s restaurants scene.* The bar area at Troquet on South. / Photo by Jacqueline CainUPDATE, March 2, 9:30 a.m.: Troquet officially reopens on South Street tonight at 4 p.m., general manager Jake Tringali reports.PREVIOUSLY:Troquet has earned an outstanding reputation for wine on Boylston Street, and a move to the Leather District next month will give fans more room to get comfortable and enjoy it.Troquet on South is on track to open in early March, with nearly triple the space for dining and drinking, expanded dinner hours and eventually, lunch service; an interactive Champagne cart, more casual bar offerings, and more.“It’s a move, but it’s really like a whole new restaurant,” says general manager Jake Tringali.An alum of Charcoal in Venice, Calif., Study, Journeyman, and other restaurants, Tringali joined Troquet owners Chris Campbell and chef Scott Hebert a few months ago in anticipation of the expansion. Previously, Campbell managed the floor during service five nights a week. With the move, Troquet will be open nightly, and in the coming weeks, lunch (and potentially brunch service) will be added into the mix.“For the past couple years, [Campbell has] been looking for a space that more fits his vision,” Tringali says.A large part of that is a place with a more comfortable bar and lounge area where guests can delve into the award-winning wine program. The new location also has a 25-seat private dining room in the back, which will host wine and scotch dinners and other special events.Up a few stairs from the entrance, Troquet on South has a lengthy, white marble bar that can seat a dozen comfortably. There are also several high-top tables with seats and tall banquettes for casual dining, and a communal table made from a vintage leather stretching machine. That piece is from the location’s former life as a shoe manufacturer, Tringali says.The by-the-glass list will grow to more than 50 options, and the cellar will continue to carry hundreds of Old and New World varietals. But Tringali says Troquet will use its expanded bar area to remind guests it has a full liquor license, too. The team has brought on Matt Marini, who has worked at Hojoko and founded hospitality brand Pineapple Crossing, as bar manager. His new cocktail list focuses on grains and grapes—think whiskeys, bourbons, Armagnacs, cognacs.“It’s an extension of what we already have in the dining room and our wine program,” Tringali says.The kitchen will also benefit from the growing bar scene. Hebert is finalizing Troquet’s first-ever bar menu, which will have a seafood plateau, yellowtail tartare, lobster and avocado salad, and more raw bar offerings; plus a brand new burger, and classic French snacks like Camembert fondue, and escargot.“We’ve inherited a pizza oven which we’re definitely going to use,” Tringali adds. Expect personal-sized, thin-crust pies with artisan toppings like lamb and bacon with caramelized onions, and white clam.The main dining room will continue to offer classic entrées like beef duo with Bordelaise, whole-roasted Dover sole, and seared Maine sea scallops with squid ink pasta. But Troquet will add more shareable options, like the sucking pig for two currently on the menu.The cheese cart is coming along to the Leather District, and sommelier Campbell is also rolling out a brand new Champagne cart with some classic French bruts, an American variety, and likely a rosé.“It’s a lot of fun,” Tringali says. “We’ll tour it through the bar and when guests see it, we make friends very quickly.”While it will be bittersweet to say goodbye to the original Troquet’s Boston Common views, the team is looking forward to putting down roots in the busy downtown neighborhood near Les Zygomates, Chinatown restaurants, Townsman, and more.“We want people to come here and go there and vice versa,” Tringali says.Cheers to that.Troquet on South is eyeing March 1 for its grand opening. Dinner service at the Boylston Street location will continue through February 25.Coming soon to 107 South St., Boston, 617-695-9463, troquetboston.com. Print
The final round of the 2019 WGC-FedEx St. Jude Invitational at TPC Southwind in Memphis is set to tee off on Sunday, as Rory McIlroy holds a one-shot lead over Brooks Koepka with 18 holes to go.The purse for the event is set at $10.25 million, with the winner slated to walk away with $1.745 million. The second-place finisher will also receive a seven-figure check totaling $1.095 million.Below is a complete payout breakdown of the field at the WGC-FedEx St. Jude Invitational.Brooks Koepka and Rory McIlroy will be front and center on Sunday.Getty Images