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If the Chumph Wins – Will Wall Street Crash?

Apparently Wall Street has been running scared since the Comey memo. The thought of a Chumph starting trade wars is just part of it. The dollar would go down, based on the expectation of economic instability, Second, the insurance rate for international business transactions would minimally triple making project funding difficult if not impossible. Lastly is the social and Civil turmoil issue…

My advice in the event of a Chumph win…Sell.

The impact of this morning’s retraction of the “email scandal” non-scandal by FBI’s Comey?

Wall Street shot up 300 points!

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Trump terrifies Wall Street: Professional investors are panicking — should you?

Election jitters sent the S&P on the longest losing streak since the Great Recession — expect worse if Trump wins

It’s been a wild ride for markets this week, thanks in part to FBI Director James Comey’s surprise announcement last week about the discovery of new emails related to Hillary Clinton’s email server controversy, which, if polls are any indication, improved Republican Donald Trump’s chances to win the White House on Tuesday. Investors are bracing for what could be the most volatile post-election trading day ever.

According to a Credit Suisse analysis of index options (financial derivatives that allow investors to bet on the future value of a market index), the benchmark S&P 500 index of America’s biggest companies could rise or fall by 3.3 percent on Wednesday in reaction to the election results. Such an election-related swing in the market would be unprecedented, well above the average 1.1 percent move that follows a normal presidential race. Other estimates are less sanguine: Citi analysts warn of an immediate 5 percent drop should Trump win the election. Others suggest the decline could be even greater.

As Election Day approaches, anxieties are running high, leading to one of the longest selloffs of stocks in the S&P 500 index since the financial crisis eight years ago. Friday’s upbeat monthly U.S. jobs report, which showed robust gains in both hiring and wage growth, helped to lift U.S. markets during intraday trading, but the S&P 500 ended Friday down a slight 0.17 percent, its ninth consecutive decline and the longest losing streak since 1980.

The U.S. election jitters aren’t limited to the U.S.: Asian and European stock markets fell Friday, too, while the benchmark Euro Stoxx 600 shed 3.5 percent this week, touching its lowest level since July. This scramble sent the VIX, a widely watched index that rises when market volatility is high, above 22 points on Friday, up from 13 over the past five weeks, its highest point since Britain voted in June to leave the European Union.

Safe-haven bets — low-yield, highly stable investments — have risen, too. U.S. Treasury funds gained $2.3 billion in five days, the largest influx of cash since the first week of July following the Brexit vote, as investors fled volatile markets to the safety of low-yield U.S. government debt. On Friday, the price of a troy ounce of gold was up about $30 from Monday (gold prices tend to rise when investors are on edge).

All of this is classic “risk-off“ behavior, where investors flee riskier bets like low-rated corporate or high-yield municipal bonds. Clearly, the investment professionals are spooked — but what does this mean for average investors?

“It think it’s good to close your ears,” said Bill Stone, chief investment officer at PNC Financial Services Group. “Politics bring in a lot of emotion and bringing those emotions into investment decisions is not likely to help you, frankly.”

 
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Posted by on November 7, 2016 in Chumph Butt Kicking

 

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Man “Busjacks” Metro Bus in DC

Washington DC’s Metro System converted to fare cards quite a while back. So there is little to no money on a Bus. So why someone would hijack a Bus is a bit of mystery. Looks like the hijacker may have been trying to blow the bus up by driving it over the gas pumps like in the movies.

Crazy people doing crazy things (with guns) everywhere!

Hijacked bus kills pedestrian in D.C.

Authorities say a man attacked a bus driver, stole the bus, then struck and killed a man after the bus jumped a curb at a gas station.

Police Chief Cathy Lanier said at a news conference Tuesday that the man with a weapon attacked the driver. She says passengers fled the bus and the driver hit the emergency button before getting off himself.

Lanier says the man drove off and as the bus pulled into a gas station it went over a curb and hit the man. She says the man was taken to a hospital, where he was pronounced dead.

Lanier says the man who stole the bus appeared distraught as officers took him into custody. CBS affiliate WUSA-TV reports the alleged hijacker was taken to a hospital for evaluation.

 

 
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Posted by on May 3, 2016 in Nawwwwww!

 

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Clown Bus Update

Clown Bus 2

Going Down!

 
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Posted by on October 6, 2015 in The Clown Bus

 

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Along Came a Spider…

Jumped out of a moving car with her son in it?

How a spider caused a car to T-bone a school bus

It all began innocently enough: An Indiana woman, with her 9-year-old son in tow, put her car in reverse and began backing out of her driveway.

But then terror struck. Specifically, terror in the form of an eight-legged creature, resting upon the driver’s shoulder.

Yes, a spider. And it scared Angela Kipp so much that the 35-year-old jumped out of her moving car on Friday, according to the  Kosciusko County Sheriff’s Department.

Somehow, Kipp’s 9-year-old son still had his wits about him, despite his mother having just jumped out of a moving car. The boy sprang into action, climbing from the back seat into the driver’s seat, authorities said. But as he tried to hit the brake pedal, he instead pressed down on the throttle. The car rammed right into a passing school bus.

Thankfully, there were no kids on the bus, and the bus driver escaped without injuries. The impact caused the boy to fall out of the open door and onto the pavement, leaving him with minor injuries, said Sgt. Chad Hill, a spokesman for the Kosciusko County Sheriff’s Department.

Kipp “had complete fear of the spider,” Hill said. “She was responding to the fear of the spider and, unfortunately, had [the car] in gear.”

Hill, who has been on the force for more than 25 years, called it “the most unusual situation to occur in my career.”

“This sequence of events has just got to be astronomical,” he added.

No charges are expected at this time against Kipp (or the spider), and the investigation is continuing.

 
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Posted by on September 21, 2015 in Nawwwwww!

 

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What Happens When You Skip the Oil Change and 60k Mile Maintenance

Another postcard for preventative maintenance…Or why you shouldn’t let conservatives be in charge of your country.

This “rescue” helicopter in Brazil fell apart on landing.

 
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Posted by on February 24, 2012 in You Know It's Bad When...

 

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An Insurance Guy’s Nightmare

Wow… a $500,000 Ferrari…

So what sort of deductible do you get on that?

This one apparently involved eight Ferraris, three Mercedes Benzes,  a Lamborghini Diablo, and a rare Nissan GTR Skyline… And talk about being on the road at the wrong time and place…A Toyota Prius!

Astonishing accident involving eight Ferraris ‘world’s most expensive car crash’

A fleet of high-performance cars, including eight Ferraris, has been involved in one of the most expensive accidents in history after an astonishing multi-car pile-up in Japan.

Police said three Mercedes Benz cars and a Lamborghini Diablo were also involved in the massive crash at the weekend on the Chugoku Expressway, in the country’s south-west.

Witnesses reported hearing a “tremendous noise” just a few moments before the accident on the Yamaguchi prefecture highway amid terrible driving conditions.

While the majority of the 14 vehicles – which also included a Japanese supercar Nissan GT-R Skyline and a Toyota Prius – were travelling along the Osaka Prefecture-bound bended lane at least one Mercedes CL600 was driving in the opposite direction.

Miraculously, none of drivers – the majority of whom are reported to be foreign car enthusiasts – were seriously hurt in the wreckage but the bill is still bound to be painful nonetheless.

Such was the severity of the damage, several of the luxury cars have been written off, leaving their owners with the nightmare scenario of seeing their prized possessions turned into expensive scrap metal.

The total damage bill is expected to hit several million pounds. A new Ferrari 355 retails for several hundred thousand pounds.

The other Ferrari models understood to have been involved in the pile-up include a F512, F355, F430 and a F360.

 
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Posted by on December 5, 2011 in Nawwwwww!, The Post-Racial Life

 

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“A Sugar Coated Satan Sandwich”

Hopefully, they will shoot this bill down today…

Debt Deal Emerging With Rightward Tilt

President Barack Obama’s rightward lurch to reach a $3 trillion deficit reduction deal with no guarantee of additional revenues had liberals fuming and Republicans all but declaring victory Sunday afternoon.

Rep. Emanuel Cleaver, chairman of the Congressional Black Caucus, said early reports of the new deal appeared to be “a sugar-coated Satan sandwich.” The Missouri Democrat said the CBC hadn’t yet made a formal declaration that the group would oppose it, “but this is a shady bill.”

“This deal trades people’s livelihoods for the votes of a few unappeasable right-wing radicals, and I will not support it,” ripped Rep. Raúl Grijalva (D-Ariz.), co-chairman of the Congressional Progressive Caucus, before House Democrats had even been briefed. “The lesson today is that Republicans can hold their breath long enough to get what they want.”

The President Surrenders

For the deal itself, given the available information, is a disaster, and not just for President Obama and his party. It will damage an already depressed economy; it will probably make America’s long-run deficit problem worse, not better; and most important, by demonstrating that raw extortion works and carries no political cost, it will take America a long way down the road to banana-republic status.

Start with the economics. We currently have a deeply depressed economy. We will almost certainly continue to have a depressed economy all through next year. And we will probably have a depressed economy through 2013 as well, if not beyond.

The worst thing you can do in these circumstances is slash government spending, since that will depress the economy even further. Pay no attention to those who invoke the confidence fairy, claiming that tough action on the budget will reassure businesses and consumers, leading them to spend more. It doesn’t work that way, a fact confirmed by many studies of the historical record.

Indeed, slashing spending while the economy is depressed won’t even help the budget situation much, and might well make it worse. On one side, interest rates on federal borrowing are currently very low, so spending cuts now will do little to reduce future interest costs. On the other side, making the economy weaker now will also hurt its long-run prospects, which will in turn reduce future revenue. So those demanding spending cuts now are like medieval doctors who treated the sick by bleeding them, and thereby made them even sicker.

And then there are the reported terms of the deal, which amount to an abject surrender on the part of the president. First, there will be big spending cuts, with no increase in revenue. Then a panel will make recommendations for further deficit reduction — and if these recommendations aren’t accepted, there will be more spending cuts.

 

 
 

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Talk About Distracted Driving!

You can see some strange sites on the Washington Beltway. Not only folks driving at 75 trying to simultaneously read their email and text but…

On the Beltway, a claim of drunken sex at 85 mph

…in the Fairfax County courthouse, a lawsuit about a crash on the Beltway last year is dropping a few jaws as it makes the rounds and heads toward trial next week. Among the latest allegations in the lawsuit pending in Fairfax County Circuit Court:

Paragraph 10. “At the time of the collision, Defendant was going 85 miles per hour.”

Paragraph 12. “At the time of the collision, Defendant was having sex with a female.”

Paragraph13. “At the time of the collision, Defendant was driving admittedly drunk.”

Paragraph 14. “At the time of the accident, Defendant was partially or totally in the backseat of the car.”

Wait, WHA? 85 miles per hour? The backseat? And what happened to paragraph 11?

Records show the defendant, from Woodbridge, was convicted in Fairfax district court of drunken driving near Telegraph Road in May 2010. But now he denies he was driving. (What?) He was coming from his 21st birthday party in Baltimore, court records state. The woman involved has been dismissed from the case. There was someone ELSE in the car too, and HE denies driving as well.

The defendant’s lawyer, Frank Prior, said there was “no statement by anyone that they were driving on the Beltway having sex” and “no facts on it.” The plaintiff, a 28-year-old cab driver, is seeking $75,000 in damages and is represented by Douglas R. Stevens, who declined to comment beyond his court filings.

But Stevens sought punitive damages against the defendant and the friend, arguing in a pleading that “having sex at 85 miles per hour while drunk on a freeway is willful and wanton negligence.” A Fairfax judge threw out the punitive damages claim.

The case is set for trial next week.

“You see, Your Honor – the reason we had the accident is that I wasn’t really driving…”

 

 
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Posted by on June 17, 2011 in Nawwwwww!

 

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France Convicts Continental Airlines of Homicide

Just when you thought things couldn’t get any stranger – a French Judge has convicted Continental Airlines of involuntary homicide for a piece of metal falling off one of their airplanes which is believed to contributed to the Air France Concorde crash in 2000. I am not terribly sure how the French Court could assign blame here – much less a criminal penalty.

The only thing I can see Continental guilty of, in my experience… Is losing bags.

France Finds Continental Guilty in Crash of Concorde

A French judge ruled on Monday that Continental Airlines and one of its mechanics were guilty of involuntary homicide for their role in the 2000 crash of an Air France Concorde jet that killed 113 people.

Judge Dominique Andréassier of the court in Pontoise, northwest of Paris, ordered the American carrier to pay a fine of $265,000 and civil damages of more than $1.3 million to Air France. John Taylor, 42, the mechanic, was fined $2,650 and given a suspended 15-month prison sentence.

Henri Perrier, 81, considered the “father” of the iconic supersonic jet and an executive of Aérospatiale, the company that built the Concorde, and two other French officials, Jacques Hérubel, and Claude Frantzen, formerly of the French airline regulator who certified the plane’s airworthiness, were acquitted.

A 2002 report by French air accident investigators concluded that a small strip of metal had fallen off a Continental DC-10 that took off minutes earlier and that the piece punctured a tire of the Concorde as it accelerated down the runway on July 25, 2000. The tire disintegrated in seconds, investigators said, sending shards of rubber into the fuel tanks and causing a catastrophic fire. All 109 passengers and crew members were killed, along with 4 people on the ground.

Olivier Metzner, the French lawyer for Continental in the case, vigorously challenged the investigators’ findings in court, however, and presented a starkly different scenario. Mr. Metzner argued that the investigators disregarded accounts of the accident from more than 20 witnesses who said the plane appeared to have caught fire at a point on the runway several yards before it reached the metal strip.

Continental said it would appeal the “absurd” ruling, which took more than a decade to work its way through the French courts. “To find that any crime was committed in this tragic accident is not supported either by the evidence at trial or by aviation authorities and experts around the world,” Nick Britton, a Continental spokesman, said in an e-mailed statement.

 

 

 
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Posted by on December 6, 2010 in News

 

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Run…Run…Run…

The core issues with the Stock Market haven’t gone away. The problem with the elephants dying is the little guys get crushed in a fall-down. Trust level of Wall Street by small investors is sinking, fast.

Things may well be getting ready to go to Hell in a Handbasket on Wall Street

In Striking Shift, Small Investors Flee Stock Market

Renewed economic uncertainty is testing Americans’ generation-long love affair with the stock market.

Investors withdrew a staggering $33.12 billion from domestic stock market mutual funds in the first seven months of this year, according to theInvestment Company Institute, the mutual fund industry trade group. Now many are choosing investments they deem safer, like bonds.

If that pace continues, more money will be pulled out of these mutual funds in 2010 than in any year since the 1980s, with the exception of 2008, when the global financial crisis peaked.

Small investors are “losing their appetite for risk,” a Credit Suisse analyst, Doug Cliggott, said in a report to investors on Friday. Read the rest of this entry »

 
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Posted by on August 22, 2010 in News

 

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