Fayette County arrest reports — Oct. 22-28

The following arrests were reported by local law enforcement agencies for the past week. All persons are considered innocent until proven guilty:

Tuesday, Oct. 22 – Monday, Oct. 28

Fayette County Sheriff’s Office

Juan B. Cruz-Cruz, born in 1982, of Lee Road, Opelika, Ala., for windshield and/or wiper violation, brake light/turn signal violation and driving without valid license.

Bobby W. Howell, Jr., born in 1986, of Nowell Drive, Fairburn, for probation/parole violation.

Dexter G. Lewis, born in 1972, of Jones Avenue, Albany, for bench warrant.

read more

via The Citizen http://www.thecitizen.com/articles/11-05-2013/fayette-county-arrest-reports-%E2%80%94-oct-22-28

Barry Sternlicht Warns “Everyone Is Holding Cash Because They Know When It Ends It’s Gonna Get Ugly”

The Fed is playing a very dangerous game,” Starwood Capital’s Barry Sternlicht warns,”and they need to stop.” Sternlicht has quadrupled his firm’s net worth in this time and, to the incredulity of the CNBC anchors, warns, “this is bad, this is a heroine addiction.. and now they are printing more money than the deficit.” The outspoken CEO of the $29 billion fund, noted “all my friends who are money managers.. are much closer to the sell button than they ever were before,” adding that “everyone’s holding cash,” since if they start to get nervous “volatility will come back instantly.” Simply put, he concludes, “you know when this ends, it’s gonna get ugly.”

On Fed QE and investors’ heroin addiction:

they should knock this off. This is bad. This is a heroin addiction. The more you get on it, the worse it’s going to get; the more asset values inflate.”

 

 

Further to Sternlicht’s point that “you’re gonna hold cash”,

A new survey of family offices by Citi finds that the wealthy are cash heavy—meaning they may fall short of the investment returns they’re expecting.

 

Wealthy families have about 39 percent of their assets in cash, according to a recent poll of more than 50 large family office representatives from 20 countries conducted by Citi Private Bank.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/i68LmWliegM/story01.htm Tyler Durden

Barry Sternlicht Warns "Everyone Is Holding Cash Because They Know When It Ends It's Gonna Get Ugly"

The Fed is playing a very dangerous game,” Starwood Capital’s Barry Sternlicht warns,”and they need to stop.” Sternlicht has quadrupled his firm’s net worth in this time and, to the incredulity of the CNBC anchors, warns, “this is bad, this is a heroine addiction.. and now they are printing more money than the deficit.” The outspoken CEO of the $29 billion fund, noted “all my friends who are money managers.. are much closer to the sell button than they ever were before,” adding that “everyone’s holding cash,” since if they start to get nervous “volatility will come back instantly.” Simply put, he concludes, “you know when this ends, it’s gonna get ugly.”

On Fed QE and investors’ heroin addiction:

they should knock this off. This is bad. This is a heroin addiction. The more you get on it, the worse it’s going to get; the more asset values inflate.”

 

 

Further to Sternlicht’s point that “you’re gonna hold cash”,

A new survey of family offices by Citi finds that the wealthy are cash heavy—meaning they may fall short of the investment returns they’re expecting.

 

Wealthy families have about 39 percent of their assets in cash, according to a recent poll of more than 50 large family office representatives from 20 countries conducted by Citi Private Bank.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/i68LmWliegM/story01.htm Tyler Durden

Metaphysical Monetary Musings From Deutsche Bank

Deutsche’s Jim Reid has been on quite a flight of fancy in the past few days. His latest comment, mixing the metaphysical and monetary, is merely the latest indication showing just how ubiquitous the Fed’s influential tentacles have spread.

From DB’s Jim Reid

We are not alone. After going through the FT this morning it’s clearly a bit quiet as the story that has most caught my attention is the one suggesting that new research has estimated that there are more than 20bn Earth-like planets in our Milky Way with temperatures that could sustain life. A remarkable number. Maybe as we speak 5bn of them are contemplating tapering, 10bn have already tapered and 5bn are simply having too much fun to care!

 

A few years ago DB research put out a piece with the title “The Fed is from Venus and the ECB from Mars” which now seems a little parochial given this revelation.

 

Nevertheless news from planet Fed and planet ECB remain the key drivers at the moment. If you want a rough guide to how important central banks have become to the world’s economies and markets this year, in the 28 DB articles our weekly EWR publication highlighted last month, one in every two of them included discussion of central bank policy. By comparison in October 2012’s 22 articles, only three discussed central bank policy (14%). So markets aren’t always this one dimensional.

And here, without any specific purpose, is a gratuitous photo of Carl Sagan.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/oiS-23Yhq64/story01.htm Tyler Durden

Don’t Appear to Be Clenching Your Buttocks When Pulled Over For Not Coming to a Complete Stop at Stop Sign or Be Tortured by Doctors: America, This is Your War on Drugs

From the “folks, this is just wrong” department of our War on
Drugs, reported
by KOB-TV 4
in New Mexico. They are reporting on a lawsuit that
arose from an:

incident [that] began January 2, 2013 after David Eckert
finished shopping at the Wal-Mart in Deming.  According to a
federal lawsuit, Eckert didn’t make a complete stop at a stop sign
coming out of the parking lot and was immediately stopped by law
enforcement.      

Eckert’s attorney, Shannon Kennedy, said in an interview with
KOB that after law enforcement asked him to step out of the
vehicle, he appeared to be clenching his buttocks.  Law
enforcement thought that was probable cause to suspect that Eckert
was hiding narcotics in his anal cavity.  While officers
detained Eckert, they secured a search warrant from a judge that
allowed for an anal cavity search.  

The lawsuit claims that Deming Police tried taking Eckert to an
emergency room in Deming, but a doctor there refused to perform the
anal cavity search citing it was “unethical.”

But physicians at the Gila Regional Medical Center in Silver
City agreed to perform the procedure and a few hours later, Eckert
was admitted.

While there…

1. Eckert’s abdominal area was x-rayed; no narcotics were found.
 

2. Doctors then performed an exam of Eckert’s anus with their
fingers; no narcotics were found.

3. Doctors performed a second exam of Eckert’s anus with their
fingers; no narcotics were found.  

4. Doctors penetrated Eckert’s anus to insert an enema. 
Eckert was forced to defecate in front of doctors and police
officers.  Eckert watched as doctors searched his stool. 
No narcotics were found.

5. Doctors penetrated Eckert’s anus to insert an enema a second
time.  Eckert was forced to defecate in front of doctors and
police officers.  Eckert watched as doctors searched his
stool.  No narcotics were found.

6. Doctors penetrated Eckert’s anus to insert an enema a third
time.  Eckert was forced to defecate in front of doctors and
police officers.  Eckert watched as doctors searched his
stool.  No narcotics were found.

7. Doctors then x-rayed Eckert again; no narcotics were found.
 

8. Doctors prepared Eckert for surgery, sedated him, and then
performed a colonoscopy where a scope with a camera was inserted
into Eckert’s anus, rectum, colon, and large intestines.  No
narcotics were found.  

Throughout this ordeal, Eckert protested and never gave doctors
at the Gila Regional Medical Center consent to perform any of these
medical procedures….

There are major concerns about the way the search warrant was
carried out.  Kennedy argues that the search warrant was
overly broad and lacked probable cause.  But beyond that, the
warrant was only valid in Luna County, where Deming is
located.  The Gila Regional Medical Center is in Grant
County.  That means all of the medical procedures were
performed illegally and the doctors who performed the procedures
did so with no legal basis and no consent from the patient.
 ….

The warrant also had expired in time when the “medical
procedures” were carried out. Eckert is suing the city of Deming
and Deming Police Officers Bobby Orosco, Robert Chavez
and Officer Hernandez, as well as three Hidalgo County Deputies and
two doctors from the Gila Regional Medical Center.

The petty legalities of time and place of the carrying out of
these hidieous tortures will, I hope, be sufficient for Eckert to
win his suit; but of course the entire thing is an abomination from
beginning to end. If only he could just sue for “police being petty
officious asshole morons, and doctors violating their professional
standards and all human decency by going along.”

I blogged yesterday on military doctors
also violating their oaths and decency
in the name of
orders.

from Hit & Run http://reason.com/blog/2013/11/05/dont-appear-to-be-clenching-your-buttock
via IFTTT

Don't Appear to Be Clenching Your Buttocks When Pulled Over For Not Coming to a Complete Stop at Stop Sign or Be Tortured by Doctors: America, This is Your War on Drugs

From the “folks, this is just wrong” department of our War on
Drugs, reported
by KOB-TV 4
in New Mexico. They are reporting on a lawsuit that
arose from an:

incident [that] began January 2, 2013 after David Eckert
finished shopping at the Wal-Mart in Deming.  According to a
federal lawsuit, Eckert didn’t make a complete stop at a stop sign
coming out of the parking lot and was immediately stopped by law
enforcement.      

Eckert’s attorney, Shannon Kennedy, said in an interview with
KOB that after law enforcement asked him to step out of the
vehicle, he appeared to be clenching his buttocks.  Law
enforcement thought that was probable cause to suspect that Eckert
was hiding narcotics in his anal cavity.  While officers
detained Eckert, they secured a search warrant from a judge that
allowed for an anal cavity search.  

The lawsuit claims that Deming Police tried taking Eckert to an
emergency room in Deming, but a doctor there refused to perform the
anal cavity search citing it was “unethical.”

But physicians at the Gila Regional Medical Center in Silver
City agreed to perform the procedure and a few hours later, Eckert
was admitted.

While there…

1. Eckert’s abdominal area was x-rayed; no narcotics were found.
 

2. Doctors then performed an exam of Eckert’s anus with their
fingers; no narcotics were found.

3. Doctors performed a second exam of Eckert’s anus with their
fingers; no narcotics were found.  

4. Doctors penetrated Eckert’s anus to insert an enema. 
Eckert was forced to defecate in front of doctors and police
officers.  Eckert watched as doctors searched his stool. 
No narcotics were found.

5. Doctors penetrated Eckert’s anus to insert an enema a second
time.  Eckert was forced to defecate in front of doctors and
police officers.  Eckert watched as doctors searched his
stool.  No narcotics were found.

6. Doctors penetrated Eckert’s anus to insert an enema a third
time.  Eckert was forced to defecate in front of doctors and
police officers.  Eckert watched as doctors searched his
stool.  No narcotics were found.

7. Doctors then x-rayed Eckert again; no narcotics were found.
 

8. Doctors prepared Eckert for surgery, sedated him, and then
performed a colonoscopy where a scope with a camera was inserted
into Eckert’s anus, rectum, colon, and large intestines.  No
narcotics were found.  

Throughout this ordeal, Eckert protested and never gave doctors
at the Gila Regional Medical Center consent to perform any of these
medical procedures….

There are major concerns about the way the search warrant was
carried out.  Kennedy argues that the search warrant was
overly broad and lacked probable cause.  But beyond that, the
warrant was only valid in Luna County, where Deming is
located.  The Gila Regional Medical Center is in Grant
County.  That means all of the medical procedures were
performed illegally and the doctors who performed the procedures
did so with no legal basis and no consent from the patient.
 ….

The warrant also had expired in time when the “medical
procedures” were carried out. Eckert is suing the city of Deming
and Deming Police Officers Bobby Orosco, Robert Chavez
and Officer Hernandez, as well as three Hidalgo County Deputies and
two doctors from the Gila Regional Medical Center.

The petty legalities of time and place of the carrying out of
these hidieous tortures will, I hope, be sufficient for Eckert to
win his suit; but of course the entire thing is an abomination from
beginning to end. If only he could just sue for “police being petty
officious asshole morons, and doctors violating their professional
standards and all human decency by going along.”

I blogged yesterday on military doctors
also violating their oaths and decency
in the name of
orders.

from Hit & Run http://reason.com/blog/2013/11/05/dont-appear-to-be-clenching-your-buttock
via IFTTT

Rand Paul’s Plagiarism, and the Weird Man's Burden

I dunno, she probably has the longer reach. |||There are two scandals regarding a national
politician’s veracity this week. One is about a president
lying
about his signature, transformative legislative
achievement, while his administration
lies
and
prevaricates
some more in the face of being caught selling the
American public a bill of goods. The second
initially centered around
a senator
lifting movie-description passages from Wikipedia
in his
speeches. You could almost see the thought bubble around Rand
Paul’s head–how could they possibly be nitpicking me in
this of all weeks? But that is exactly the wrong response, both
externally and internally, as new revelations make even more
clear.

First came
word
Sunday that a whole
1,318-word section
of Paul’s book
Government Bullies
was lifted from a Heritage Foundation
study (the think tank just shrugged). The
latest
is that a September Washington Times
op-ed
the senator wrote on mandatory minimums, and also

testimony
he gave on the subject to the Senate Judiciary
Committee, was lifted from a recent piece by Dan
Stewart
in The Week.

Taken together, these sloppy, undergraduate-level infractions
suggest strongly that Sen. Paul is running a loose ship, one not
currently ready for the prime time of winning a national
election.

"GATTACA! GATTACA! GATTACA!" Oh wait, wrong movie. |||“There are technicalities to
this, but nothing I said was not given attribution to where it came
from,” Paul
said prematurely last week
, in response to the first wave of
Wikipedia discoveries. “[People are] making a mountain out of a
molehill….It’s a disagreement about how you footnote things.” By
“people” he especially meant MSNBC host Rachel Maddow, who (along
with Buzzfeed) has been stoking this controversy: “She’s
been spreading hate on me for about three years now,” he
complained. On ABC’s
This Week
on Sunday, Paul even wished out loud he could
challenge his critics to a duel.

There are two fundamental problems to this kind of defensive
response. The first is managerial–what kind of message do you send
staff by waving off such juvenile, 100% avoidable unforced errors
as “technicalities”? That’s like putting up a sign in the office
saying “substandard work welcome here.” In a world of free plagiarism-detection
services
, the time to begin
scrubbing old speeches for possible problems
 was last
week, when the senator was busy lashing out at his critics.

The second problem, which cuts straight to the heart of the
difference between Rand Paul and his dad, is that he’s actually
trying to win the presidency. If your goal is to genuinely
compete in a general election with your once-marginalized ideas,
instead of building a revolutionary movement at the margins, then
you don’t need to be as clean as the competition–you need to be
cleaner. Why? Call it The Weird Man’s Burden.

They'll beat you and they'll treat you like a carnival clown. |||Rand Paul, like his father, has
a lot of “weird” ideas, at least in the cramped context of how
“responsible” two-party politics and governance has played out over
the past several decades. He thinks the drug war is a failure and
has introduced ways to peel it back. He wants to balance the budget
in five years, and slash several federal departments. He believes
in the Fourth Amendment. He is anti-interventionist to the point
that when I asked him repeatedly earlier this summer to name
American military conflicts during his lifetime he would have
retroactively supported, the only he came up with was deposing the
Taliban after 9/11. You and I may think those positions are within
the bands of normality, but libertarians are still
less than one-quarter of the population

The Weird Man (and Woman, bien sur), very crudely
speaking, has two broad avenues available for changing the system:
from within, and from without. Since us weirdos are often, well,
weird, there’s a natural attraction toward hopeless,
beautiful, philosophically pure fires on the sidelines. (This isn’t
libertarian-specific—it’s true of any group whose
issue or issues have been consistently disregarded over time.)
Henry David Thoreau wasn’t trying to fix slavery and imperialistic
war from within Washington, he simply refused to pay his taxes and
headed off into the woods to write. It is emotionally satisfying to
give the finger to The Man, and out there on the margins it is an
affirmation, not an occasion for self-reflection, when the
mainstream and its apologists attack you, whatever the
reason. 

Aaaaaaaaand SCENE! |||The other avenue for Weird Man change-making goes
not into the woods, but into the streets, television screens, and
halls of power. It is an inherently compromising approach–even
Martin Luther King was dismissed in his lifetime as a sellout. As
King and many of the most effective Inside-Gamers have learned,
however, it can be an incredibly effective tactic to present your
claims with more dignity, decorum, and “self-purification” than
the mainstream you aim to change. Think about it–gay rights at
first was the stuff of revolutionaries and outrage-generating
paraders, but the gay marriage debate really took off with
a bullet when those two sweet old ladies got married in San
Francisco. The movement to legalize marijuana by necessity began
with the gray-ponytail crowd, and will end with square-jawed
businessmen in suits
. This is not to state a preference for one
of the two main avenues of change–Rand wouldn’t be a national
politician without Ron’s rEVOLution–but rather to identify the
characteristics of the path that Rand has very obviously
chosen. 

So what does that mean in this instance? If he wants to run for
president, he needs to be better, not worse, and not
merely as good, as the competition when it comes to the most
seemingly trivial matters of comportment. Journalists, particularly
(though not only) from
those outlets
sensitive to the allure that libertarian ideas
have on some progressive voters, will be gunning for every
possible gaffe, glitch, error of judgment, and stated deviance. He
should consider it an honor to be challenged, instead of a
challenge to get huffy about.

Get used to it, Rook. |||People who choose the Inside Game know, or at
least should know, that the deck is stacked against them,
and that they will be judged more harshly. Those were always the
rules. On the upside, being the first real truth-teller inside an
empire of lies carries with it enormous galvanizing potential.
Whining about being picked on in this context is like complaining
about getting fouled when you drive to the hoop against Bill
Laimbeer and Rick Mahorn. The answer is to dunk the damned
basketball, not bitch to the refs. And for god’s sake, make sure
your shoes are tied.

It’s actually helpful for Rand Paul’s presidential ambitions to
be having these mini-kerfuffles in November 2013. It’s doubtful
that they will have any impact on the 2016 race, and he could
clearly use the practice. 

from Hit & Run http://reason.com/blog/2013/11/05/rand-pauls-plagiarism-and-the-weird-mans
via IFTTT

Rand Paul’s Plagiarism, and the Weird Man’s Burden

I dunno, she probably has the longer reach. |||There are two scandals regarding a national
politician’s veracity this week. One is about a president
lying
about his signature, transformative legislative
achievement, while his administration
lies
and
prevaricates
some more in the face of being caught selling the
American public a bill of goods. The second
initially centered around
a senator
lifting movie-description passages from Wikipedia
in his
speeches. You could almost see the thought bubble around Rand
Paul’s head–how could they possibly be nitpicking me in
this of all weeks? But that is exactly the wrong response, both
externally and internally, as new revelations make even more
clear.

First came
word
Sunday that a whole
1,318-word section
of Paul’s book
Government Bullies
was lifted from a Heritage Foundation
study (the think tank just shrugged). The
latest
is that a September Washington Times
op-ed
the senator wrote on mandatory minimums, and also

testimony
he gave on the subject to the Senate Judiciary
Committee, was lifted from a recent piece by Dan
Stewart
in The Week.

Taken together, these sloppy, undergraduate-level infractions
suggest strongly that Sen. Paul is running a loose ship, one not
currently ready for the prime time of winning a national
election.

"GATTACA! GATTACA! GATTACA!" Oh wait, wrong movie. |||“There are technicalities to
this, but nothing I said was not given attribution to where it came
from,” Paul
said prematurely last week
, in response to the first wave of
Wikipedia discoveries. “[People are] making a mountain out of a
molehill….It’s a disagreement about how you footnote things.” By
“people” he especially meant MSNBC host Rachel Maddow, who (along
with Buzzfeed) has been stoking this controversy: “She’s
been spreading hate on me for about three years now,” he
complained. On ABC’s
This Week
on Sunday, Paul even wished out loud he could
challenge his critics to a duel.

There are two fundamental problems to this kind of defensive
response. The first is managerial–what kind of message do you send
staff by waving off such juvenile, 100% avoidable unforced errors
as “technicalities”? That’s like putting up a sign in the office
saying “substandard work welcome here.” In a world of free plagiarism-detection
services
, the time to begin
scrubbing old speeches for possible problems
 was last
week, when the senator was busy lashing out at his critics.

The second problem, which cuts straight to the heart of the
difference between Rand Paul and his dad, is that he’s actually
trying to win the presidency. If your goal is to genuinely
compete in a general election with your once-marginalized ideas,
instead of building a revolutionary movement at the margins, then
you don’t need to be as clean as the competition–you need to be
cleaner. Why? Call it The Weird Man’s Burden.

They'll beat you and they'll treat you like a carnival clown. |||Rand Paul, like his father, has
a lot of “weird” ideas, at least in the cramped context of how
“responsible” two-party politics and governance has played out over
the past several decades. He thinks the drug war is a failure and
has introduced ways to peel it back. He wants to balance the budget
in five years, and slash several federal departments. He believes
in the Fourth Amendment. He is anti-interventionist to the point
that when I asked him repeatedly earlier this summer to name
American military conflicts during his lifetime he would have
retroactively supported, the only he came up with was deposing the
Taliban after 9/11. You and I may think those positions are within
the bands of normality, but libertarians are still
less than one-quarter of the population

The Weird Man (and Woman, bien sur), very crudely
speaking, has two broad avenues available for changing the system:
from within, and from without. Since us weirdos are often, well,
weird, there’s a natural attraction toward hopeless,
beautiful, philosophically pure fires on the sidelines. (This isn’t
libertarian-specific—it’s true of any group whose
issue or issues have been consistently disregarded over time.)
Henry David Thoreau wasn’t trying to fix slavery and imperialistic
war from within Washington, he simply refused to pay his taxes and
headed off into the woods to write. It is emotionally satisfying to
give the finger to The Man, and out there on the margins it is an
affirmation, not an occasion for self-reflection, when the
mainstream and its apologists attack you, whatever the
reason. 

Aaaaaaaaand SCENE! |||The other avenue for Weird Man change-making goes
not into the woods, but into the streets, television screens, and
halls of power. It is an inherently compromising approach–even
Martin Luther King was dismissed in his lifetime as a sellout. As
King and many of the most effective Inside-Gamers have learned,
however, it can be an incredibly effective tactic to present your
claims with more dignity, decorum, and “self-purification” than
the mainstream you aim to change. Think about it–gay rights at
first was the stuff of revolutionaries and outrage-generating
paraders, but the gay marriage debate really took off with
a bullet when those two sweet old ladies got married in San
Francisco. The movement to legalize marijuana by necessity began
with the gray-ponytail crowd, and will end with square-jawed
businessmen in suits
. This is not to state a preference for one
of the two main avenues of change–Rand wouldn’t be a national
politician without Ron’s rEVOLution–but rather to identify the
characteristics of the path that Rand has very obviously
chosen. 

So what does that mean in this instance? If he wants to run for
president, he needs to be better, not worse, and not
merely as good, as the competition when it comes to the most
seemingly trivial matters of comportment. Journalists, particularly
(though not only) from
those outlets
sensitive to the allure that libertarian ideas
have on some progressive voters, will be gunning for every
possible gaffe, glitch, error of judgment, and stated deviance. He
should consider it an honor to be challenged, instead of a
challenge to get huffy about.

Get used to it, Rook. |||People who choose the Inside Game know, or at
least should know, that the deck is stacked against them,
and that they will be judged more harshly. Those were always the
rules. On the upside, being the first real truth-teller inside an
empire of lies carries with it enormous galvanizing potential.
Whining about being picked on in this context is like complaining
about getting fouled when you drive to the hoop against Bill
Laimbeer and Rick Mahorn. The answer is to dunk the damned
basketball, not bitch to the refs. And for god’s sake, make sure
your shoes are tied.

It’s actually helpful for Rand Paul’s presidential ambitions to
be having these mini-kerfuffles in November 2013. It’s doubtful
that they will have any impact on the 2016 race, and he could
clearly use the practice. 

from Hit & Run http://reason.com/blog/2013/11/05/rand-pauls-plagiarism-and-the-weird-mans
via IFTTT

President Obama Covers Up an Old Lie With a New One

If you’re a fan of comic books
or other types of serial fiction, you’re probably familiar with the
concept of the “retcon”—a made-up word that stands for “retroactive
continuity
.”

For the not-so-geeky, the basic idea is that the authors of some
long-running storyline change previously established facts within
the narrative. Often the idea is to facilitate new storylines,
or, less generously, to help struggling serial writers work
themselves out of some difficult plot corner they’ve written
themselves into.

Fans sometimes complain about the way the practice can upend
complex stories that have been developing for years. But in
general, they’re expected to just go along and accept that the old
story is gone, and the new story is what really happened.
 

I wonder if President Obama is a comic book fan. Because with
the updated version of his oft-repeated promise that individuals
who like their health plans can keep them, he’s essentially
retconned himself.

Here’s how Obama
described his promise
yesterday: “Now, if you had one of these
plans before the Affordable Care Act came into law and you really
liked that plan, what we said was you can keep it if it hasn’t
changed since the law passed.”

This isn’t just an update. It’s a backwards revision. Obama is
not just changing his claim going forward—he’s attempting to alter
what he said in the past as well. 

Let’s look through some back issues for a moment. Here’s what
Obama used to say about the circumstances under which you can keep
your health plan, via New York Magazine

Got that? If you’re happy with your plan, nobody’s changing it.
If you like your plan, you can keep it. You will keep it. Nobody’s
changing it. 

There are no exceptions here, no qualifications or caveats. It’s
a promise, as Obama has said, period.
No matter what

This is what Obama actually said. But now he’s saying it’s not.
He’s covering for his old lie with a new one—an insistence that he
never misled in the first place. And he’s hoping that everyone just
goes along. The most ardent fanboys might buy it. But most people,
I suspect, will see it for the artless and desperate revisionism
that it is. 

from Hit & Run http://reason.com/blog/2013/11/05/president-obama-covers-up-an-old-lie-wit
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Wealth Effect Disappointed As Non-Manufacturing ISM Beats Expectations

In the worst possible news for the wealth effect and stocks (recall JPM’s warning yesterday), moments ago the Non-manufacturing ISM printed at 55.4, beating expectations of a 54.0 print and above September 54.4 number proving once again that all the fire and brimstone about the government shutdown having an adverse impact on the US economy was nothing but hollow propaganda. As for the actual print, this is horrible news for those betting on ongoing US economic collapse as it means the Fed may, just may, reduce its $85 billion in monthly flow some time in the future. Sure enough, stocks kneejerked lower, as did gold and the EURUSD, while 10 Year yields spiked to 2.664%. And while the bulk of internal numbers also rose, those who live and breathe the destruction of the US economy to send the S&P to recorder highs, can find solace in a New Orders print of 56.8, down from 59.6, which was the lowest number since July.

Charting the data:

Breakdown:

From the report:

The report was issued today by Anthony Nieves, CPSM, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee. “The NMI® registered 55.4 percent in October, 1 percentage point higher than September’s reading of 54.4 percent. This indicates continued growth at a faster rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index increased to 59.7 percent, which is 4.6 percentage points higher than the 55.1 percent reported in September, reflecting growth for the 51st consecutive month. The New Orders Index decreased by 2.8 percentage points to 56.8 percent, and the Employment Index increased 3.5 percentage points to 56.2 percent, indicating growth in employment for the 15th consecutive month. The Prices Index decreased 1.1 percentage points to 56.1 percent, indicating prices increased at a slower rate in October when compared to September. According to the NMI®, 10 non-manufacturing industries reported growth in October. Respondents’ comments are mixed with the majority reflecting an uptick in business. A number of respondents indicate that they are negatively impacted by the government shutdown.”

From the respondents.

  • “Sales continue to increase slightly over the same period last year.” (Public Administration)
  • “We experienced an increase in the level of interest in our services, job awards and professional services placements.” (Professional, Scientific & Technical Services)
  • “Signs of improvement and stability are encouraging; however, the political environment and the cost of ObamaCare are causing a retrenching as costs escalate and margins shrink.” (Retail Trade)
  • “Economy continues to be a challenge with consumer fear as a result of the government partial shutdown.” (Accommodation & Food Services)
  • “Economic conditions continue to improve slowly in spite of government policy. Housing continues to lead.” (Management of Companies & Support Services)
  • “Business activities are stable compared to previous month.” (Finance & Insurance)

But perhaps most amusing about today’s report is that in addition to shrimpt, the only commodity reported in short supply, continues to be Helium, now in its fifth month of shortage. Considering Washington, one can see why.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/BLs1cEqKk64/story01.htm Tyler Durden