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WHOA!

Richard Russell, the famous writer of the Dow Theory Letters, has a chilling line in today’s note:

Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him.

That’s pretty intense!

Update: By popular demand, here’s more on what he sees in the market. The gist is that the markets recent gyrations are telling him that the economy is in trouble:

And I ask myself, “Am I seeing things? The April 26 high for the Dow
was 11205.03. The Dow is selling as write at 10557 down 648 points
from its April high. If business is even better than expected, then
why is the Dow down over 600 points? And why, if there were 674 new
highs on the NYSE on April 26, were there only 20 new highs on Friday,
May 14? And if my PTI was 6133 on April 26, why is it down 17 points
since its April high?

The fact is that I’ve been seeing deterioration in the stock market
ever since early-April, and this in the face of improving business
news. The D-J Industrial Average is composed of 30 internationally
known top-quality blue-chip stocks. These are 30 of “America’s biggest
companies.” If Barron’s is so bullish on the future of America’s
biggest companies, then why isn’t the Dow advancing to new highs?

Clearly something is wrong. But what could it be? Much as I love
Barron’s, I trust the stock market more. If I read the stock market
correctly, it’s telling me that there is a surprise ahead. And that
surprise will be a reversal to the downside for the economy, plus a
collection of other troubles ahead.

About Dow Theory — First, we saw the recent April highs in the
Averages. Then we saw a plunge in both Averages to their May 7 lows —
Industrials to 10380.43, Transports to 4298.12, next a short rally. If
ahead, the two Averages turn down and violate their May 7 lows, that
would be the clincher. Such action would signal the certain resumption
of the primary bear market.

Just as for years I asked, cajoled, insisted, threatened, demanded,
that my subscribers buy gold, I am now insisting, demanding, begging
my subscribers to get OUT of stocks (including C and BYD, but not
including golds) and get into cash or gold (bullion if possible). If
the two Averages violate their May 7 lows, I see a major crash as the
outcome. Pul – leeze, get out of stocks now, and I don’t give a damn
whether you have paper losses or paper profits!

Don’t miss: 13 housing markets that will never recover >

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Article Tags: Doug L. Hoffman

There is little doubt that the political forces promoting climate change hysteria are under attack and in retreat around the world. It has also become obvious that little global consensus exists among climate scientists regarding how to regain the public’s trust. There is, however, ample evidence that the climate change alarmists have not learned their lesson. At a recent conference held in Washington, D.C., an eminent climate policy expert urged that scientists and policy leaders embrace the persuasive power of uncertainty. If you cannot convince the public with the facts, frighten them into going along anyway seems to be the message. This is not science, it is subterfuge justified by blind faith.

“There is no doubt that humans are causing climate change and that existing technology can limit greenhouse gas emissions,” Mohamed El-Ashry said at the 10th Annual Science & Technology in Society Conference cosponsored by AAAS. But science and policy leaders might gain more traction in the public debate over emissions by “highlighting the uncertainty of what might happen over the next 50 years, which is much scarier,” he said. It is a sad state of affairs when an “eminent” climate scientist’s best argument in support of a theory is uncertainty, and that is because uncertainty can be used to scare the public.

This revealing statement was reported in the “AAAS News and Notes” section of the April 30, 2010, issue of Science, the flagship journal and official organ of the AAAS. El-Ashry called for more regional modeling of climate change and better assessment of how healthy ecosystems support local and national economies. Focusing on near term, local effects—like harsher weather conditions or changes in the timing of snowmelt used in agriculture—could help governments recognize that climate change has an impact “not just over there in the Arctic,” he said, “but on our farms and within our borders.”

Click source to read FULL report from Doug L. Hoffman

Source: theresilientearth.com

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KNOXVILLE — The University of Tennessee, Knoxville, brings in at least $950.2 million annually in income to the state of Tennessee, and supports 23,055 jobs both inside and outside the university, according to a study released yesterday.

This finding was part of a study done by UT Knoxville’s Center for Business and Economic Research (CBER).

UT economists, led by CBER Director Bill Fox, analyzed data from fiscal year 2008 to estimate the economic impact of the UT System overall as well as the individual impact of the campuses in Knoxville, Martin, Chattanooga, the Health Science Center in Memphis and the Space Institute in Tullahoma.

Including all of its campuses statewide, UT brings in at least $2.5 billion annually in income to the state of Tennessee and supports more than 53,600 jobs. It also generates an estimated $237.6 million in state and local tax revenue.

The economic impact studies focused on direct employment and income data.

According to the CBER study, the $950.2 million income estimate for UT Knoxville includes $727.8 million in payroll spending, $126.6 million in non-payroll spending and $95.9 million in student and visitor spending. The Knoxville campus also generates an estimated $102.4 million in state and local tax revenue each year. Students and visitors attending athletic events on campus spent approximately $226.4 million in FY 2008, accounting for $95.9 million in income and 3,162 jobs. The CBER study notes these figures are likely a conservative estimate of UT’s impact. The study does not quantify the benefits of an educated workforce, research projects or community engagement.

To read more about how all UT campuses impact the state of Tennessee, visit http://www.tennessee.edu/media/releases/051710_income.html.

Home improvement chain Home Depot went through its own renovation from 6.6% sales decrease in 2009 to a hefty 41% sales increase in the first quarter of 2010. Being the country’s leader in home-improvement retails, this uptrend in HD sales is most likely indicative of an over-all rebound in the country’s housing industry.

In the sideline, Home Depot’s smaller competitor, Lowe’s has also felt a smoother transaction with their customers. It did not slid down for 2010 Q1 unlike the past years.

Even though economists have set a better mark for Home Depot this 2010, they haven’t expected for the first quarter’s book to close in a remarkable rate. Confidence lost in the stretch of recession made analysts bet a safe figure even if they are aware that season change normally brings in more clients.

Credit must be given to Home Depot’s move in March where summer ornamental including patio fixtures were sold in lower price. It turn out though, that Americans are starting to feel more comfortable with purchasing which then made HD exceeds the benchmark set in the earlier part of the year.

With this healthy start of $725 million net income and $36.48 stance in the New York Stock Exchange, Home Depot is a trend to follow for the next three quarters.

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Drew Scheeler in the hot seat.
Photo courtesy of Valleycrest Productions Ltd.

Campus members who watched Monday’s episode of Who Wants to be a Millionaire already know Drew Scheeler made it up to the $7,500 question. He continued as a holdover contestant on today’s show, which aired this morning, by looking at the $10,000 question with all three lifelines left.

Scheeler, a Sandusky native who recently completed his first year at Case Western Reserve, is thinking about majoring in accounting, economics or history.

He always wanted to audition for Millionaire, but his mom wanted him to be on Jeopardy. He made her a deal – he’d try out for Jeopardy if she let him audition for Millionaire when he turned 18. He not only made it on Jeopardy – he won $5,000 on the Teen Tournament – but his dream of making it to the Millionaire hot seat came true when he taped an episode of the popular game show last November.

“I spent most of my study time brushing up on strategy: what lifelines to use, when to use them, etc.,” he said of his preparation for the show. He had an opportunity to chat with host Meredith Meredith Vieira during commercial breaks.

His family and a few of his friends were in the audience, so they knew how far he went on Millionaire. As for other people, he created a fake story “for those who wouldn’t take ‘I’m legally not allowed to discuss this’ for an answer,” said Scheeler, who writes theater reviews for The Observer.

In addition to his love of game show trivia, Scheeler is a balloon sculptor. He works at the mall and at resorts making whatever balloon creation kids ask him to come up with. His most intricate creation was a pterodactyl, made with 20 balloons. He also collects Disney-branded pins.

If he wins big, Scheeler plans to pay for graduate school and travel around the world.

For more information contact Kimyette Finley, 216.368.0521.

Twitter meets Nintendo’s Miis to satisfy your most intimate narcissistic and megalomaniacal desires: It’s your own Twitter Parade! I can’t stop looking. [ISparade via Twitter] More »










Twitter – Online Communities – Social Networking – Trending and Popularity – Nintendo

Nintendo has been pretty quiet about the 3DS’s official specs, but an alleged target board for the handheld’s prototype seems to point to a wider screen, among other modifications.

The SMH has an article on a study linking pesticide use to ADHD – Pesticide link to hyperactivity: study.

Children exposed to higher levels of pesticide found on commercially grown fruit and vegetables in the United States were more likely to have attention deficit/hyper-activity disorder (ADHD), according to a study published on Monday.

Researchers in the United States and Canada studied data from 1139 children aged between eight and 15 and found children with higher residue levels of pesticides known as organophosphates were roughly twice as likely to have ADHD, the study in the journal Pediatrics found.

“The present study adds to the accumulating evidence linking higher levels of pesticide exposure to adverse developmental outcomes,” the study concluded.

Roughly 40 organophosphate pesticides are registered with the US Environmental Protection Agency for use in the United States, and about 33.11 million kilograms of the pesticides were used in agricultural and residential settings in 2001, figures cited in the study said.

Although residential pesticide use is common, the National Academy of Sciences found that the major source of exposure for infants and children comes through the diet, the study added.

According to a 2008 report cited by the study, detectable levels of pesticides were found in a range of vegetables. A sample of produce tested found 28 per cent of frozen blueberries, 20 per cent of celery and 25 per cent of strawberries contained traces of one organophospate, known as malathion.

Other types of pesticides were found in 27 per cent of green beans, 17 per cent of peaches and 8 per cent of broccoli.

Spotify, one of the hottest startups on the online music scene, is diversifying its offering and launching in one more country. No, it’s not the US as many have been anticipating, the Netherlands joins the short list of countries where the music-streaming service is available. At the same time, the service is lau… (read more)

Weeks after the massive BP oil spill in the Gulf of Mexico, Newt Gingrich still continues his “Drill Here, Drill Now” mantra, writing that “human progress is not without risk” and that “[o]ffshore drilling is no exception.” Even though the oil leak at BP’s Deepwater Horizon rig continues largely unabated and is “already far larger” than the Exxon Valdez crash, Gingrich is holding firm.  Think Progress has more original investigative reporting:

At the NRA’s annual conference in Charlotte, NC, yesterday, ThinkProgress asked Gingrich if he still accepts this level of risk to continue offshore drilling:

TP: So given the scale of the oil spill in the gulf, do you still think that it represents an acceptable risk to continue offshore drilling?

GINGRICH: Yes. … One oil spill since 1969 with 4,000 wells. If the Coast Guard had a reasonable research program, we’d be much further down the road to solving this kind of thing.

ThinkProgess also asked the former GOP House Speaker if he agrees with Mississippi Gov. Haley Barbour’s (R) recent campaign to encourage tourists to visit gulf beaches despite oil and dead sea animals washing ashore. While Gingrich hesitated for a moment, he replied, “Of course.” Watch the interview:

While it’s unclear which “4,000 wells” Gingrich was referring to, his claim that there has only been one spill since 1969 is not accurate, as the Wonk Room’s Brad Johnson has noted:

Between 1992 and 1998 there were 319 failures of blowout preventers found in US offshore drilling, an average of 45 a year. [MMS, 1999] Between 1992 and 2006 there were at least 39 blowouts off the US coastline, 38 of them in the Gulf of Mexico. [MMS, 7/07] From 2007 to 2009 there were 19 blowouts, all in the Gulf of Mexico. [MMS]

Moreover, the largest accidental oil spill in history was a Gulf of Mexico exploratory rig blowout in 1979 and other major offshore spills have occurred elsewhere around the world. In “one of Australia’s worst oil disasters,” a PTTEP oil rig blew out in the Montara deepwater oil field on August 21, 2009.

Sunday morning, Newt Gingrich sat for a softball interview with Fox News’ Chris Wallace to discuss his new book. Wallace never asked Gingrich — the originator of the “drill here, drill now, pay less” slogan — about the oil spill.

Alabama Gov. Bob Riley (R) has been arguing that his state’s beaches have never been so clean:

Alabama Governor Bob Riley said Thursday that the beaches of Gulf Shores are safe for this weekend’s Hangout Festival despite the oil rig explosion that continues to dump as much as 200,000 gallons into the Gulf daily.

“The atmosphere has never been as electric, and I don’t think Orange Beach and Gulf Shores has ever looked as attractive as it does now,” Riley said from the Hangout.

There are two sides to every story and opposing sides at that. Pope Benedict XVI, head of the Roman Catholic Church, is under scrutiny for allegedly acting indifferent to the woes of victims claiming they were sexually abused by priests. A bishop of Kentucky, they believed, did not report the immoral acts. And there were other incidents left buried in the dark.

Victims argued that the pontiff on having appointed bishops is liable to the mischief committed. MSN quoted Barbara Dorris, who works with Survivors Network of those Abused by Priests (SNAP), saying, “It’s an ancient, rigid, crystal clear hierarchy…the Pope selects, transfers, and supervises bishops…”

Vatican pointed out that the Pope’s mandate over bishops is solely religious which means he cannot impose or control the priesthood. Bishops are appointed but they act independently from the pontiff. There were abuses, yes, and justice can be rendered through the court, the pontiff explained. There is a proper venue to accuse, if proven, those who are guilty.

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Stressors in the workplace are job insecurity, huge workloads, or long hours of work, and the gravity of them put together weighs so much on the well-being of employees. There are signs that a person is experiencing stress. When under stress, the tendency is to channel it through increased smoking, drinking, and eating. It is difficult to concentrate and make decisions. There is social withdrawal and aggressiveness.

“Stress is a risk factor to heart disease, gastro-intestinal problems…stress depresses you immune system,” notes Robert Cooper, an Organizational Psychology professor.

In a survey of 2,000 people, half of them said there was low morale at work, only one among 10 sought professional help and treatment, and 1 out 5 became depressed because of pressure, notes the Guardian. In addition, only 38% said their employer supported them. In a separate report, depression, it quoted, has risen five-folds because of unemployment, extended work hours, and job insecurity.

It is a prerogative that employers address this and change the environment by providing increased support staff, flexible working atmosphere, and regulated workloads, suggested Emma Mamo, a policy and campaign officer for Mind. Work-life balance should be observed.

An important aspect on the over-all health of employees is self-esteem – how they are valued in the workplace. Long hours of work is a health risk as well as having a “bad manager.” Cooper explains it to be a disadvantage when people go to work because they are afraid of losing the job.

What better ways to cope with stress than to have social support and a qualified person who can help pinpoint the source of stress.

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If you’ve never seen Garrett Murray’s comical Adobe crash reports, do yourself a favor and check out this one at least. Before you overdose on a lethal combination of pills and broccoli. [ManiacalRage via Twitter] More »










Adobe Systems – Social Network – Adobe – Online Communities – Home

We’ve known Best Buy‘s CinemaNow-branded streaming service was in the works for some time now, but it’s finally launching this month. At the moment, this only concerns those of you with an LG Blu-ray player, since you’ll have access to $3-$4 rentals (and more expensive purchases) first. As the service is refined, it will make itself available across platforms, much like Netflix and all of those other streaming services you probably don’t use. [WSJ] More »










CinemaNow – Netflix – Best Buy – Movies – Arts

Some good news on the housing front this morning.

Housing starts were up up 5.8% in April, above the 5% rate in March. New building permits, however, plunged 11%.

Here’s a quick analysis from MarketWatch:

U.S. housing starts increased for the second straight month in April to an 18-month high, the government estimated, but building permits fell sharply, casting doubts on the momentum of the housing recovery.

Housing starts rose an estimated 5.8% in April to a seasonally adjusted annual rate of 672,000 from an upwardly revised 635,000 in March, the Commerce Department reported Tuesday. It’s the highest since October 2008, when the financial crisis worsened.

Starts of single-family homes rose 10.2% in April to a 593,000 annual rate, the highest since August 2008.

Read the full report on the government’s website.

Again, stocks are still higher, so none of the morning’s big reports are having a huge effect.

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The longest 4 years of Bob St. Germain’s life have finally come to an end, with Verizon letting him loose from his $18,000 debt.

To save you having to read the article I just linked to (I’m nice like that), I’ll bring you up to speed:

Once upon a time, Bob St. Germain signed up to a Verizon phone plan that included 2 years of free data. His son, Bryan, didn’t know that the free period had ended when he downloaded about 800MB of data while tethering the phone to his PC one rainy day in 2006.

4-year-long-story short, Bob refused to pay, tried to sue, and now, today, Verizon have agreed to let Bill’s bobsled Bob’s bill slide.

It’s not all rainbows and unicorns, however, as Bob’s bad bill has blemished his credit. Bummer for Bob.

[via AP]
[Image via Gizmodo]