Financial Review

Nobody Knows Normalization

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-02-12-2016.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe for 02-12-2016   DOW + 313 = 15,973 SPX + 35 = 1864 NAS + 70 = 4337 10 Y + .10 = 1.75% OIL + 2.77 = 28.98 GOLD – 9.40 = 1238.00 The Nikkei Stock Average finished down 11% for the week, its biggest weekly percentage drop since October 2008. For the day, the index ended off 4.8% at 14,952, the lowest since October 2014. The Nikkei is down 21% year-to-date. Japanese Prime Minister Shinzo Abe held a meeting with his top financial diplomat today, as well as the BOJ’s governor, following a report that the “architect of Abenomics” called for a Group of 20-wide response to the recent market rout. Friday’s high-level gathering came as the country’s stock markets plunged again and the yen hit highs not seen since October 2014. Speculation is also rampant that Tokyo could conduct yen-selling intervention.     The Hang Seng China Enterprises Index of mainland Chinese companies trading in Hong Kong fell 2% Friday and was off 6.8% for the week. Trading was halted on the Kosdaq, the smaller cap, tech focused exchange in South Korea as the index dropped by more than 8%.     Here in the US, we’re not quite in bear territory for the major indices: the Nasdaq dropped 18% from last summer’s high; the S&P 500 dropped 15% from last year’s high.     And then …

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Financial Review

Times Change

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-09-30-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe for 09-30-2015   DOW + 235 = 16,284 SPX + 35 = 1920 NAS + 102 = 4620 10 YR YLD + .01 = 2.06% OIL – .14 = 45.09 GOLD – 12.40 = 1116.30 SILV – .13 = 14.62   This is the last trading day of the third quarter. China’s main stock market posted its worst quarter since 2008 and its smaller Shenzhen index, posted its worst quarter in at least two decades. Markets in Singapore and Indonesia are set to post their worst quarters since the financial crisis. The MSCI Asia ex-Japan Index fell 19.1% from the beginning of the quarter. The Nikkei closed out its worst quarter since 2010 and the ASX its worst since 2011.   European stocks moved higher today, but not enough to recover from the worst quarter in 4 years. The Stoxx Europe 600 index is down about 9.5% for the quarter. Germany’s DAX index down 12% for the quarter. France’s CAC index posted a quarterly loss of 7.3%, and the UK’s FTSE 100 down 7.7%. The Eurozone is back in deflation. Consumer prices slipped 0.1% year-over-year in September.   The major U.S. averages had a rough third quarter. Concerns about spillover from slowdown in China and the timing of a Federal Reserve rate hike sent markets into correction territory, or more than 10 percent below their 52-week highs, in late August. …

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Financial Review

Canoe Trips on Mars

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-09-28-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe for 09-28-2015   DOW – 312 = 16,001 SPX – 49 = 1881 NAS – 142 = 4543 10 YR YLD – .07 = 2.09% OIL – .03 = 44.40 GOLD – 14.20 = 1133.10 SILV – .53 = 14.70   Well, this was just ugly. All three major indices traded in correction territory today or more than 10 percent below their 52-week highs. For the Nasdaq Composite, the 50 day moving average crossed the 200 day moving average, forming a pattern that goes by the catchy name “death cross”. The Nasdaq Biotechnology ETF closed down 6.3%, following a 5% drop on Friday.   Shares in mining and trading company Glencore fell almost 30 percent and closed at a record low, wiping out more than $5 billion in market valuation. The fall followed publication of a note by analysts at investment bank Investec which raised doubts about Glencore’s valuation if spot metal prices do not improve. The note pointed to high debt levels and a need for deeper restructuring. The analysts wrote: “If major commodity prices remain at current levels, our analysis implies that, in the absence of substantial restructuring, nearly all the equity value of both Glencore and Anglo American could evaporate.” Glencore, a Swiss based company, has said it will suspend dividends, sell assets and raise cash with a $2.5 billion share placement, among other measures, to cut its …

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Financial Review

To Hike or Not To Hike

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-09-11-2015.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review by Sinclair Noe for 09-11-2015   DOW + 102 = 16,433 SPX + 8 = 1961 NAS + 26 = 4822 10 YR YLD – .04 = 2.18% OIL – 1.12 = 44.80 GOLD – 3.70 – 1108.20 SILV – .13 = 14.68   The S&P 500 index was up 2.1% for the week, the best weekly gains since July.  The Dow was up 2.1% for the week, and the Nasdaq gained 3%.   The Senate has blocked an anti-Iran deal resolution. Senate Democrats successfully fended off an effort by the Republican-led Congress to dismantle the Iran deal with a disapproval resolution. While the Senate killing the resolution should mean that Congress’s bid to undo the deal is over, the House is fighting on with several bills aimed at expressing their disapproval. There’s even talk of filing lawsuits against the president.   Russia is calling for Washington to restart direct military-to-military cooperation to avert “unintended incidents” near Syria, at a time when U.S. officials say Moscow is building up forces to protect President Bashar al-Assad’s government. The U.S. is leading a campaign of air strikes against ISIS fighters in Syrian air space, and a greater Russian presence would raise the prospect of the Cold War superpower foes encountering each other on the battlefield. Both Moscow and Washington say their enemy is ISIS, but Russia supports the government of Assad, while the U.S. …

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Financial Review

Timing is………..Everything

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-09-10-2014.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSSFinancial Review DOW + 54 = 17, 068 SPX + 7 = 1995 NAS + 34 = 4586 10 YR YLD + .03 = 2.53% OIL – 1.13 = 91.67 GOLD – 6.80 = 1250.00 SILV – .12 = 19.04 Later today, at 6PM local time or 9PM eastern, President Obama will address the nation and lay out his strategy to degrade and destroy the Islamic State insurgency operating in Iraq and Syria. This will likely involve significant escalation of the US military role in the area, but we aren’t sure about the intervention in Syria; probably a combination of airstrikes, and support for more moderate Syrian forces willing to carry out attacks on both ISIS and Assad; along with regional allies providing on the ground support. The president has pledged there will not be boots on the ground. He said: “This is not the equivalent of the Iraq war. What this is similar to is the kinds of counter-terrorism campaigns that we’ve been engaging in consistently over the last five, six, seven years.” Which sounds like a distinction without a difference. Earlier today an administration spokesman said: “The president will discuss how we are building a coalition of allies and partners in the region and in the broader international community to support our efforts, and will talk about how we work with the Congress as a partner in these efforts.” That doesn’t mean …

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Financial Review

A Few Old Sayings

http://media.blubrry.com/eatthebankers/p/content.blubrry.com/eatthebankers/SINCLAIR_NOE-SEG_1-08-26-2014.mp3Podcast: Play in new window | Download (Duration: 13:16 — 6.1MB)Subscribe: Apple Podcasts | Android | RSS08262014 DOW + 29 = 17,106 SPX + 2 = 2000.02 (record) NAS + 13 = 4570 10 YR YLD + .01 = 2.40% OIL + .55 = 93.90 GOLD – .70 = 1280.90 SILV – .08 = 19.38 The S&P 500 notched its 30th record of the year and closed above 2000 for the first time ever. The Dow also rose but fell short of its record closing high after setting an all-time intraday high earlier in the session. There are a few old sayings about the market that seem to fit. The first is, “the trend is you friend”; we have seen a few minor pullbacks since the bottom in 2009, but since the start of 2013 there has been a strong and steady uptrend. “A trend in place is more likely to continue than it is to reverse, until it reverses” and today marked a continuation of the trend, not a reversal. Why is the market going up? Who knows? There are plenty of problems around the world. The US economy looks sluggish, but “stocks climb a wall of worry to march into bullish territory”; that’s a phrase that’s been thrown around for more than 60 years, but was made popular by Joe Granville in the 1980s. Another financial proverb claims “Worry is interest paid on trouble before it falls due.” And the opposite of the “wall of worry” is “Bear …

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Friday, September 27, 2013 – Swords to Plowshares

Swords to Plowshares by Sinclair Noe DOW – 70 = 15,258SPX – 6 = 1691 NAS – 5 = 3781 10 YR YLD – .02 = 2.62%OIL – .16 = 102.87GOLD + 12.40 = 1337.20SILV + .05 = 21.88 The war hasn’t started,… yet. And it looks like it won’t start any time soon; I refer, of course to US military intervention in Syria; the Syrian Civil War is ongoing, but the US didn’t jump into that quagmire. A funny thing happened in New York last night, the five permanent members of the United Nations Security Council have agreed on a resolution that will require Syria to give up its chemical weapons; yes, that means Russia and China signed off on the deal, but there will be no automatic penalties if the Syrians fail to comply. If Syria fails to comply, there would need to be further UN agreement on what measures to impose for noncompliance. Still, it is a remarkable turn of events considering that a few short weeks ago we had destroyers in the Mediterranean and it looked like bombs would fly at the drop of a hat. The diplomatic breakthrough on Syria came as Iran’s foreign minister, Mohammad Zarif, said progress had been made toward a resolution of the nuclear dispute between his country and the West, suggesting it could happen in a year. Zarif met face to face with Secretary of State John Kerry in one of the highest-level discussions between the two countries in more …

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Friday, September 13, 2013 – Five Years After

Five Years After by Sinclair Noe DOW + 75 = 15,376SPX + 4 = 1687NAS + 6 = 372210 YR YLD – .02 = 2.88%OIL – .39 = 108.21GOLD + 6.90 = 1328.90SILV + .53 = 22.37 The war hasn’t started…, yet. That’s good. Peace talks continued in Geneva today. Secretary of State John Kerry and Russian foreign minister Sergei Lavrov, and somehow at the peace table was Henry Kissinger, or maybe that was just an apparition; the ghost of Salvador Allende; nope, it was Henry. Anyway, no cruise missiles flying, no poison gas bombs exploding. It’s a good day. The road to peace is full of potholes, and one of the biggest obstacles is the time to round up the poison gas in Syria and get rid of it, against the backdrop of a fast moving kaleidoscope of warring factions. Even in a tranquil setting, the disposal of poison gas is apparently a momentous task, but Assad has signed the Chemical Weapons Convention treaty to get rid of the poison gas. When the convention came into force in 1997, participating countries agreed to destroy their stockpiles within 10 years, with an option to apply for a five-year extension. Five countries – the US, Russia, South Korea, India and Albania – all missed the main 2007 deadline. Two years ago, the United States, Russia and Libya were granted further extensions to a previously agreed final deadline for destroying their weapons. There is probably some gas in Libya that isn’t fully …

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Thursday, September 12, 2013 – Going Interstellar

Going Interstellar by Sinclair Noe DOW – 25 = 15,300SPX – 5 = 1683NAS – 9 = 371510 YR YLD – .01 = 2.91%OIL + .02 = 108.62GOLD – 44.80 = 1322.00 SILV– 1.48 = 21.84 The war hasn’t started…, yet. The peace talks are underway in Geneva between Secretary of State Kerry and his Russian counterpart Lavrov. In a news conference ahead of the Geneva talks, Foreign Minister Lavrov said the resolution of the chemical weapons issue in Syria would make any military strike by the United States unnecessary. The UN has confirmed it has received documents from Syria on joining the Chemical Weapons Convention, a key step in the Russian plan. Syria’s president said it would submit arms data one month after signing, but Mr Kerry has rejected that time-frame. Even before the talks, Russian President Vlad Putin weighed in with an op-ed in the New York Times arguing that a military strike risked “spreading the conflict far beyond Syria’s borders” and would violate international law, undermining postwar stability. Putin says poison gas was used in Syria but not by Assad; he also didn’t say who sold the poison gas to Syria; he talks about peace and democracy; and he finishes the editorial by saying “We are all different, but when we ask for the Lord’s blessings, we must not forget that God created us equal.” It’s all quite bizarre, to have Putin lecturing the US on democracy and morality and God. The good news is that the …

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Wednesday, September 11, 2013 – Twelve Years After

Twelve Years After by Sinclair Noe DOW + 135 = 15,326SPX + 5 = 1689NAS – 4 = 372510 YR YLD – .04 = 2.92%OIL – .08 = 107.31GOLD + 2.50 = 1366.80SILV + .25 = 23.32 The war hasn’t started…, yet. The war with Syria hasn’t started yet. We’re still at war; troops still in Afghanistan, slowly exiting; but, we’re still at war, 12 years after. The Dow Industrials have climbed for 6 out of the last 7 sessions, which coincides with the announcement by Obama to seek a Congressional vote on Syria. The Dow has added over 500 points since then. The price of oil hit highs for the year in the buildup to war. We’ve grown averse to war. Even on Wall Street, the idea of not going to war is a good thing. Maybe that is something we’ve learned from the last 12 years. War is bad; not going to war is good. And so last night we listened to the president trying to sell the necessity of more war, this time in Syria. He called it military intervention, but whenever you drop bombs on another country, it is war. I’m still not sure what the objective would be. I’m not sure what the cost would be, but the cost of the past 12 years has been much higher than anyone thought at the time. And then, halfway through the speech last night, we heard the possibility of a diplomatic solution. Today, diplomatic efforts intensified. France …

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Tuesday, September 10, 2011 – Infinite Monkey Diplomacy Theorem

Infinite Monkey Diplomacy Theorem by Sinclair Noe DOW + 127 = 15,191SPX + 12 = 1683NAS + 22 = 372910 YR YLD + .06 = 2.96%OIL – 2.29 = 107.23GOLD – 23.20 = 1364.30SILV – .75 = 23.07 The war hasn’t started…, yet. We had an off the cuff comment from Secretary of State John Kerry that set off a new peace plan. Kerry told reporters in London that President Bashar al-Assad of Syria could avert a strike if he turned over his chemical weapons stockpile within a week, adding that such an outcome was unlikely. This is apparently a new diplomatic policy based upon the infinite monkey theorem; which postulates that if you had a roomful of monkeys with typewriters, the monkeys would almost surely, eventually type out the complete works of William Shakespeare. In this context, the monkey is not an actual monkey but a metaphor for an abstract device or perhaps a Secretary of State, and given enough time to talk he would almost surely, eventually stumble across a peace plan. Last night his apparently off-the-cuff proposal had gained broad support, including a warm welcome from both Syria and Russia, which said it would bring Syria’s chemical weapons under international control. France has introduced a proposal with the UN. Kerry has denied the whole thing, calling the remark nothing more than a rhetorical exercise. Methinks he doth protest too much; for what is politics but a rhetorical exercise? If you don’t like the infinite monkey theorem, then …

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Monday, September 09, 2013 – The Problem Is We Do Get It

The Problem Is We Do Get It by Sinclair Noe DOW + 140 = 15,063SPX + 16 = 1671NAS + 46 = 370610 YR YLD – .04 = 2.90%OIL – 1.56 = 108.97GOLD – 2.30 = 1387.50SILV – .13 = 23.82 The war hasn’t started…, yet. A funny thing happened today; for a few moments the constant drumbeats for war were quieted, and there was talk of a diplomatic solution; fleeting, nothing concrete, hypothetical, could disintegrate in the flicker of a butterfly’s wing. Russia jumped on a remark by Secretary of State John Kerry, who said Syria should save itself by handing over its chemical weapons. Kerry was quick to dismiss as hypothetical his own comment that Syrian President Bashar al-Assad could avert U.S. strikes by surrendering his chemical arsenal to international control. But Assad’s ally Russia quickly turned it into a firm proposal that was “welcomed” by Damascus and echoed by the UN chief Ban Ki-moon. The White House said it was “seriously skeptical” but would take a “hard look” at the proposal. Russia’s foreign minister said he would push Assad to place Syria’s stockpile of nerve gases, blister agents and other chemical agents under UN supervision for eventual destruction. He said Russia also would push Syria to sign the Chemical Weapons Convention, the international treaty that prohibits use of poison gas. The Syrian government quickly put out a statement saying it would cooperate. Can you trust Russia to broker a peace deal? Hell no. Over the last weeks, …

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Wednesday, September 04, 2013 – Not Yet but Closer

Not Yet but Closerby Sinclair Noe DOW + 96 = 14,930SPX + 13 = 1653NAS + 36 = 364910 YR YLD + .05 = 2.90%OIL – 1.24 = 107.30GOLD – 20.60 = 1392.60SILV – .82 = 23.56 The Senate Foreign Relations Committee approved a resolution on authorizing limited military intervention in Syria, setting the stage for a debate in the full Senate next week on the use of force. The committee voted 10-7 in favor of a compromise resolution that sets a 60-day limit on any engagement in Syria, with a possible 30-day extension, and bars the use of troops on the ground for combat operations. The compromise is more limited than President Barack Obama’s original proposal but would meet his administration’s goal of…, well, actually, I’m not sure what the goal is, except that it would be limited and narrow, and now it would be even more limited. Yesterday we talked about some of the challenges or headwinds facing the economy and the markets. Today, the Federal Reserve released its Beige Book, and apparently things are better than they look. Conditions continued to improve over the past quarter. The central bank said growth was moving at a “modest to moderate pace” with improvements coming across all the Fed districts. The Fed said in its Beige Book report: “Consumer spending rose in most districts, reflecting, in part, strong demand for automobiles and housing-related goods.” Increased activity also was reported in travel and tourism, nonfinancial services and manufacturing, which the central …

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Tuesday, September 03, 2013 – Welcome to September

Welcome to September by Sinclair Noe DOW + 23 = 14,833SPX + 6 = 1639NAS + 22 = 361210 YR YLD + .10 = 2.85%OIL + .89 = 108.54GOLD + 15.70 = 1413.20SILV + .75 = 24.38 Well, we still haven’t started the war, yet. Congressional leaders from both sides of the aisle lined up in support of military intervention. The Senate Foreign Relations Committee opened a hearing and grilled Secretaries Kerry and Hagel. Tomorrow, Kerry and Hagel are scheduled to appear before the House Foreign Affairs Committee. The debate is shifting away from “Did Assad use chemical weapons?” to “What should be done about it?” Clarity of objectives seems to be a work in progress. Maybe all the talk will eventually consider the possible consequences of a military attack on Syria. Is it really possible to bomb a country and avoid deeper involvement? So far, the politicians are trying to work it out in a logical progression; if A, then B. That’s not always how it happens in war. Logic gets thrown out the window. At this time of crisis, it is worth remembering another time, 30 years ago in October, 1983 when US warships bombarded Lebanon, the country located next to Syria. Within weeks, the US Marine barracks in Beirut was blown up by a massive truck bomb that killed 241 American servicemen: 220 Marines, 18 sailors and three soldiers. The truck driver/suicide bomber was an Iranian national whose truck contained explosives that were the equivalent of 21,000 …

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Friday, August 30, 2013 – The War Hasn’t Started Yet

The War Hasn’t Started Yet by Sinclair Noe DOW – 30 = 14,810SPX – 5 = 1632NAS – 30 = 358910 YR YLD – .02 = 2.74%OIL – 1.15 = 107.65GOLD – 10.70 = 1397.50SILV – .34 = 23.63 The S&P 500 fell 3.1 percent in August and lost 1.8 percent for the week in a third decline in the past four weeks.The Nasdaq fell 1.9 percent for the week while the Dow slid 1.3 percent in its fourth straight weekly loss. For the month, the Dow fell 4.4 percent and the Nasdaq lost 1 percent. Only one of the 30 Dow components, Microsoft Corp , ended higher for the month. Very quietly, silver is up 22% since July 1st. The price of gold touched $1,420 an ounce this week, a three-and-a-half month high. The war has not started, yet. Secretary of State John Kerry says the Syrian government forces killed 1429 people last week in a chemical weapons attack. UN chemical weapons inspectors are investigating the attacks and will present preliminary findings to the UN after they leave Damascus tomorrow. Mr Kerry said the US already had the facts, and nothing that the UN weapons inspectors found could tell the world anything new. The US government has published an intelligence report which basically says the Syrian forces gassed Syrian civilians, killing 1429, and the intelligence is backed by medical personnell, witnesses, journalists, videos, and thousands of various things including social media. They are convinced the rockets came from areas controlled …

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Thursday, August 29, 2013 – Pre-Labor Day GDP

Pre-Labor Day GDP by Sinclair Noe DOW + 16 = 14,841SPX + 3 = 1638NAS + 26 = 362010 YR YLD – .01 = 2.76%OIL – 1.30 = 108.80GOLD – 10.60 = 1408.20SILV – .52 = 23.97 No new war yet. The British parliament voted against military action in Syria. Britain was considered a key ally in any US-led coalition. PM David Cameron said the government would respect the decision of parliament which means that Britain will not take part in military strikes against Syria. Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 331,000. Claims for the prior week were revised to show 1,000 more applications received than previously reported. So, modest strengthening in the labor market. Next week, we’ll get the monthly jobs report. Meanwhile, the US economy accelerated more quickly than expected in the second quarter thanks to an increase in exports. Gross domestic product grew at a 2.5 percent annual rate, according to revised estimates, up from the initial guess of 1.7% growth. The second quarter’s growth rate followed gains of 0.1 percent in the fourth quarter and 1.1 percent in the first three months of this year. The trade deficit in the second quarter was smaller than previously estimated, reflecting the biggest gain in exports in more than two years.  Gross domestic income, which reflects all the money earned by consumers, businesses and government agencies climbed at a 2.5 percent annualized rate in the second quarter, matching the gain in GDP. Corporate …

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Wednesday, August 28, 2013 – What Could Go Wrong?

What Could Go Wrong? by Sinclair Noe DOW + 48 = 14,824 SPX + 4 = 1634NAS + 14 = 359310 YR YLD + .05 = 2.76%OIL + 1.09 = 110.10GOLD + 1.80 = 1418.80SILV – .13 = 24.49 It is now almost certain that the United States, and an as yet unspecified number of its allies, will launch an airstrike against Syria and the forces of Bashar al-Assad. Let’s look at how this might happen. We know that it is highly unlikely that US troops will be on the ground in Syria; that would be highly risky, very expensive, and extremely unpopular. The White House has said there will not be boots on the ground. While the US is trying to cobble together a coalition of the willing to give some legal cover for attacking Syria, American military planners are fine-tuning a playbook that will likely focus on missile attacks and possibly bombing runs. Right now, there are four Navy destroyers waiting in the eastern Mediterranean Sea. It is expected they will lob cruise missiles toward Syrian targets; likely starting the missile barrage at night in order to limit civilian casualties. In the light of day they will assess damage and start the next round of attacks; if they need to hit harder, they’ll call in the big bombers, the B-2s, which are capable of flying round trip from their base in Missouri. The idea is to attack the command posts, communication nodes, troop and delivery systems, things like missile …

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Tuesday, August 27, 2013 – The Drums of War

The Drums of War by Sinclair Noe DOW – 170 = 14,776SPX – 26 = 1630NAS – 79 = 357810 YR YLD – .07 = 2.71%OIL + 3.34 = 109.55GOLD + 11.00 = 1417.00SILV + .19 = 24.62 Yesterday Secretary of State Kerry laid out the case against Syria. Today we learned the US could be ready to take military action as soon as Thursday. Defense Secretary Hagel today said: “We have moved assets in place to be able to fulfil and comply with whatever option the president wishes to take.” This follows last Wednesday’s suspected chemical attack near the Syrian capital, Damascus, which reportedly killed more than 300 people; more than 3,600 people were treated for nerve agents, and by some estimates the death toll is now approaching 500. You’ve surely seen the grisly videos. They are compelling, but in light of the faulty intelligence that preceded the war in Iraq, there is a call for stronger proof. White House spokesman Jay Carney says a report on chemical weapons use being compiled by the US intelligence community and will be published this week. There is not a requirement for Congressional approval for the president to initiate military action including strikes; rather the War Powers Act requires congressional notification, and that has been happening; of course questions of legality will be debated. The UK Parliament is to be recalled on Thursday to discuss possible responses. Prime Minister David Cameron said the world could not stand idly by after seeing appalling …

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Monday, August 26, 2013 – And the Answer Is

And the Answer Is by Sinclair Noe DOW – 64 = 14,946SPX – 6 = 1656NAS – 0.22 = 365710 YR YLD – .02 = 2.78%OIL + .29 = 106.21GOLD + 7.20 = 1406.00SILV + .25 = 24.43 President Obama awarded Army Staff Sergeant Ty Carter the Medal of Honor in a ceremony at the White House today. Carter is now the fifth living recipient of the decoration for heroic actions in Iraq or Afghanistan. The Medal of Honor, the nation’s highest military honor was awarded for Carter’s distinguished service on October 3, 2009 at Combat Outpost Keating in Afghanistan. More than 300 Afghan insurgents launched an attack against the remote, mountainous outpost; of the 53 fellow 4th Infantry Division soldiers who defended the outpost that day, eight were killed and 25 others injured. They were outnumbered six to one; the fact that anyone survived is a testament to the heroism of the day. In another part of the compound, former Staff Sergeant Clinton Romesha, battled against incredible odds. Romesha was the second survivor of that battle to receive the Medal of Honor. Carter risked his own life to resupply his fellow soldiers and to rescue a battle buddy; Carter was wounded but continued to fight; all this while under heavy and constant fire that lasted more than six hours. It is hard to imagine the hell those soldiers endured that day. The wounded soldier that Carter rescued, Specialist Stephan Mace, would later die. Carter blamed himself. For Carter, the …

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Monday, June 18, 2012 – G-20 Declares Ceviche Tasty and Democracy Messy – by Sinclair Noe

DOW – 25 = 12,741SPX +1 = 1344NAS + 22 = 289510 YR YLD un=1.58%OIL -.26 = 83.01GOLD + 2.00 = 1629.70SILV un= 28.84PLAT – 1.00 = 1489.00The results of the Greek election shows conservative New Democracy taking 29 percent, with the radical leftist Syriza bloc just behind on 27. The Pasok Socialists were set to take 12 percent of the vote. The scenario is similar to the results of an earlier round of voting. ND also came in first in May 6 elections, again with Syriza running a close second, but failed to form a government then. And 38% of eligible voters did not vote yesterday; that’s more votes than any one party received. The headlines say that a pro-bailout, pro-remain in the Euro-union party won the Greek elections; it’s not that simple. There was no majority. The next step is for New Democracy leader Antonis Samaras to form a coalition government; not an easy or certain task, and it must be done within the next 10 days. Look for a combo of the New Democracy conservatives and  the Pasok socialists; the same group that governed Greece into this mess in the first place. Pasok, the Socialist party, called for a government that would include Syriza, the far left party, but  Syriza ruled out joining a coalition that would stick to the punishing bailout terms that have helped condemn Greece to five years of record recession. Alexix Tsipras, the leader of Syriza, had vowed to tear up the terms, betting that …

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