Weekly Market Review: September 28, 2020

first_imgWhen reduced to its simplest form, the U.S. banking industry’s business model can be described as funding long-term loans with short-term liabilities. Banks take in money as deposits from individuals, held mostly in the form of checking and saving accounts. Even though theoretically that money could all exit the bank at the end of each day, the bank confidently lends the money out as longer-term loans to individuals and businesses. Banks are paying almost nothing for those deposits today, allowing them to keep nearly all of what they are charging on the loans, but the profits derived from loans may be impacted due to COVID-19. (source: BTN Research).The outstanding debt of our nation’s government has grown from $22.6 trillion on 9/24/19 to $26.8 trillion on 9/24/20, an increase of $4.2 trillion in the last 12 months. That means over the last year, the USA’s national debt has increased by $11.4 billion per day, $475 million per hour, $7.9 million per minute, or a dire $132,000 per second. In just the 30 seconds it took you to read this paragraph, our national debt has increased by $4 million (source: Treasury Department).In an AII Investor Sentiment Survey conducted last week, 46% of investors surveyed are bearish on the expected performance of U.S. stocks over the next six months. That number is up from the historical long-term bearish average of 31% (source: American Association of Individual Investors).Notable Numbers for the Week:BANKS – 21 banks have failed in the last five years (through 9/25/20), requiring a financial bailout from the Federal Deposit Insurance Corporation, about four failures per year. 127 banks had failed YTD through this point in calendar year 2010, i.e., YTD through 9/25/10, about three failures per week (source: FDIC).LOTS OF PEOPLE – 22% of Americans (74 million people) are on Medicaid, the nation’s health care program for low-income Americans that is jointly funded by the federal government and all 50 states (source: Medicaid).BUILDING EVERYWHERE – New residential construction in the United States totaled 139,100 housing units in July 2020, its highest monthly total since September 2006. The total includes 93,100 single family homes, 700 apartment buildings with 2-4 units and 45,300 apartment buildings with 5 or more units (source: Census Bureau).VOTING – The 2020 elections in the U.S. take place 36 days from today. On 11/03/20, Americans will vote for a president, all 435 members of the House and 33 members (out of 100) of the Senate (source: Congress).Mark R. Reimet, CFP®CERTIFIED FINANCIAL PLANNER™Jodie BoothFinancial Advisorlast_img read more

Read More →

U.S. Charges Dutch FARC Member and 17 Other Guerrillas

first_img On 14 December, a U.S. court formally charged the Dutchwoman Tanja Anamary Nijmeijer and seventeen other Colombian FARC guerrillas with the kidnapping of three Americans, freed in 2008 together with former political leader Ingrid Betancourt. Nijmeijer, who is thirty-two years old, is the only European woman to have enrolled in the FARC’s ranks since the founding of the guerrilla group in 1964. Nijmeijer joined the Revolutionary Armed Forces of Colombia (FARC) in 2002, according to the Colombian authorities. A grand jury in the U.S. capital charged her, together with her seventeen colleagues, with kidnapping Marc Gonsalves, Keith Stansell, and Thomas Howes and holding them for more than five years, until they were rescued by the army, together with Betancourt, on 2 July 2008, the Department of Justice announced in a statement. The Dutch guerrilla was part of the group that was with the FARC’s top military commander, Jorge Briceño (alias ‘Mono Jojoy’), when he died during a bombardment by the Colombian army, on 22 September, according to intelligence reports. Her body has not been found, and the Colombian authorities affirm that they do not know her whereabouts. The U.S. indictment affirms, among other details, that the three Americans were occasionally moved to Venezuelan territory by the FARC in order to escape army harassment. It also affirms that the kidnapping victims “were taken to a meeting in 2003 with several senior members of the FARC’s Estado Mayor Central (Central General Staff), who told the Americans that their continued detention as U.S. citizens would assist the FARC’s goals by increasing international pressure on the government of Colombia to capitulate to the FARC’s demands.” Gonsalves, Stansell, and Howes were captured in February 2003, when their small plane crashed in the jungle, in FARC territory. The guerrillas immediately executed two of the five survivors of the accident: the pilot Thomas Janis, also an American, and a Colombian sergeant, Luis Alcides Cruz. The other three were held under “barbaric conditions” in the jungle, the text affirms. Colombia has already extradited to the United States one FARC guerrilla who participated in the kidnapping of Betancourt and the Americans, although the country’s Supreme Court later refused to extradite two other members of the FARC. The extradited guerrilla, Ricardo Palmera, alias “Simón Trinidad,” was sentenced to sixty years in prison in Washington, a penalty to which Nijmeijer and her acolytes could also be sentenced. By Dialogo December 16, 2010last_img read more

Read More →

Nussle talks advocacy, advancement with Australian CUs

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » CUNA President/CEO Jim Nussle addressed global credit union peers Thursday during World Council of Credit Unions’ Australian Credit Union Study Trip. His keynote address at a CEO/Director meeting focused on CUNA’s efforts to advocate, unify, advance and promote the credit union industry.“Credit unions in the U.S. have seen many positive trends in 2018 – from membership growth to increased financial benefits for both members and non-members,” Nussle said. “The credit union difference is our cooperative superpower. It’s our best asset, our competitive advantage, and it extends across the globe.”Last year credit unions provided more than $16 billion in benefits to American consumers, members and non-members alike. The industry also added nearly five million members and grew five times faster than the U.S. population.last_img read more

Read More →

Take a hammer to your auction day fears

first_imgMore from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoRay White New Farm auctioneer Haesley Cush talks to new owners Susan McNeil and Hugh Patterson at the auction of 139 Sirius St, Coorparoo. (AAP image, John Gass)Mr Cush’s advice for buyers nervous about buying under the hammer was to speak to agents who specialise in auctions and attend auctions to see the process play out. He said that when it came to auction day, potential buyers didn’t even have to be the ones raising the paddle as they could enlist the help of a buyer’s agent, a friend or family member, or they could bid via the phone or internet. Will Ranken, Westpac’s general manager of home ownership, said buyers could increase their confidence by doing their homework and being well-prepared. “To ensure the best chance of success, home hunters should observe several auctions before they bid, thoroughly research the property they’re interested in and ask the selling agent for comparable sales,” he said. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:44Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:44 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow to bid at auction for your dream home? 01:45Queenslanders are shying away from auctions with a study finding more than half of buyers in the Sunshine State are too scared to buy property under the hammer. The latest Westpac Home Ownership Report found prospective homeowners in Queensland were apprehensive about auctions, with 55 per cent admitting they were too scared to buy at an auction and 48 per cent saying they weren’t confident they would know what to do. Auctioneer Haesley Cush (pictured) said he wasn’t surprised by the report’s findings because of the small percentage of properties Queensland sold at auction. He said the lack of exposure to auctions, especially across generations, meant buyers were reluctant to trust an unknown process. Ray White auctioneer Haesley Cush in action (AAP image, John Gass)“In other states where there are higher proportions of properties going to auction, you have less reluctance from buyers to engage with auctions,” he said. “Though I think if you surveyed buyers in Brisbane’s inner city suburbs you would find a higher number would be prepared to buy at auction, as they are more familiar with the process.’’Mr Cush said buyers shouldn’t be afraid of the auction process as it was the most transparent way of purchasing a property. “If you buy via private treaty, you have to put in an offer, fill out a contract and wait for the owner’s response. If there’s another buyer, you have to guess what price they’re going to pay and you don’t have the right of reply.“At an auction, you get to yell out your price, you don’t have to fill out any paper work for your offer, just register to bid, and you don’t have to worry about the validity of other buyers as they’ll be yelling out their prices too.” center_img “Home for Sale by Auction. For Sale sign with auctioneeraas gavel and a chrome house key fob, with house key. Copy space.”Mr Ranken said it was important for buyers to do their research to understand other loan services available to prospective buyers, such as a bridging loan or portability loan. The Home Ownership Report also identified education gaps among Queensland buyers when it came to home finance, with many admitting to not fully understanding key financial concepts.Almost half said they weren’t sure what equity was, 65 per cent didn’t know what comparison rates were, and 38 per cent admitted they did not completely understand the purpose of an offset account. However the findings showed 81 per cent of surveyed Queensland buyers were taking steps to educate themselves on home financing by turning to professionals (76 per cent) and leveraging digital resources (42 per cent) to better understand what’s involved in buying or financing a home.**** HAESLEY’S TOP TIPS TO CONQUER YOUR AUCTION FEARSlast_img read more

Read More →

Governor Inslee Proclaims April 16 Healthcare Decisions Day

first_imgFacebook14Tweet0Pin0Submitted by Providence Health & ServicesGov. Jay Inslee has proclaimed April 16, 2018 as Healthcare Decisions Day in Washington. The day recognizes the need for and efforts to encourage individuals to discuss and record choices ahead of time regarding future medical treatment — known as advance care planning — and to have those wishes honored.In honor of Healthcare Decisions Day — and to participate in the national effort spotlighting advance care planning on April 16, National Healthcare Decisions Day — Providence in Southwest Washington has planned the following events:Advance Care Planning Drop-In SessionApril 18, 11:30 a.m. to 1 p.m., Providence St. Peter Hospital, Executive Conference RoomApril 27, 11:30 a.m. to 1 p.m., Providence Centralia Hospital, Chapel Conference RoomInformal opportunity to get resources, discuss advance care planning, and complete advance directive.  Make use of free notary services and/or talk with Certified Respecting Choices® First Steps® ACP Facilitators. (Bring your driver’s license or other identification for notary services.)Advance Care Planning Workshop:  “Are You Prepared?”April 19, 5-6 p.m., Providence St. Peter Hospital, 200 RoomsApril 24, 5-6 p.m., Providence Centralia Hospital, Mother Joseph Conference RoomApril 26, 5-6 p.m., Providence St. Peter Hospital, 200 RoomsOne hour workshop helps you:Increase understanding of Advance Care Planning and documentsConsider personal choices for future health careKnow the characteristics of a good health care agentIdentify steps to complete or update ACP Documents (specifically Advance Directives)Sign up at www.provregister.org (sign up not required by requested for planning purposes).Providence has partnered with Honoring Choices Pacific Northwest (PNW), a joint initiative between the Washington State Hospital Association and the Washington State Medical Association, to inspire conversations about the care people want at the end of life. Honoring Choices PNW’s vision is that everyone will receive care that honors personal values and goals at the end of life.“Healthcare Decisions Day is an opportunity for us individually and as a community to consider the care we would want if we couldn’t make decisions for ourselves,” said Adams. “At Providence, we are proud to help ensure that our patient’s wishes and decisions are heard and documented”Key to advance care planning are advance directives, forms that allow individuals to name a person to make medical decisions for them if they cannot; state values, goals and preferences; and select specific treatment options. Completing an advance directive and discussing it with the named decision-maker and loved ones better ensures personal choices can be honored.For additional information about Honoring Choices PNW, visit www.honoringchoicespnw.org. National efforts around National Healthcare Decisions Day can be found at www.nationalhealthcaredecisionsday.org.last_img read more

Read More →

Tragic ‘tail’ comes to happy end for Barney the blind donkey

first_imgA dear little donkey called Barney has benefited from the kindness of animal lovers who raised over €14,800 to fund his sight-saving surgery.The abandoned donkey was recently taken in by the Donegal Donkey Sanctuary after being found wandering on the side of a hill.The terrified animal was blinded by cataracts and needed urgent surgery. But the cost of the treatment was putting the Donegal Donkey Sanctuary under extreme pressure. They appealed to their supporters to help contribute what they could to help with the surgery, aftercare and travel expenses.Barney’s story touched hundreds of people’s hearts and an incredible €14,821 was raised in just a few weeks.Barney underwent the vital surgery in England and vets are hopeful that he will soon see once again.Danny and Sandra Curran thanked all their supporters and said: “We are so excited for brave little Barney to have this miraculous chance to see properly once again.” “It is now over to his veterinary team to organise the next step in his journey.”Tragic ‘tail’ comes to happy end for Barney the blind donkey was last modified: November 10th, 2019 by Rachel McLaughlinShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:barney the blind donkeydonegal donkey sanctuarylast_img read more

Read More →

Crows Use Tools in Sequence

first_img51; Watch a one-minute video clip on the BBC News.  A New Caledonian crow in New Zealand figures out how to use three tools in sequence to get at food that is out of reach.  This amazing display of animal intelligence surprised researchers at the University of Auckland who already knew about the legendary problem-solving behavior of corvids, a group that includes crows, rooks and ravens (see 08/11/2009, “Crow Fulfills Aesop Story”).    The article said, “The crows, which use tools in the wild, have also shown other problem-solving behaviour, but this find suggests they are more innovative than was thought.”  They can even whittle branches into hooks and tear leaves into barbs to reach hard-to-get food.  Until recently, scientists had thought these tool-making skills were restricted to primates.  The article continues, saying that primate mammals now have rivals in tool-making with these birds.  “Experiments have shown that the birds can craft new tools out of unfamiliar materials, as well as use a number of tools in succession.”  The lead author of the paper in PNAS about the experiments said, “Finding that the crows could solve the problem even when they had to innovate two behaviours was incredibly surprising.”    These observations raise questions about the interpretation of tool use as a measure of intelligence.  Even octopi have been seen “using halved coconut shells as tools, by scooping them from the seabed, galloping off with them and then later using them as a shelter” (see 12/16/2009, bullet 1).  But does this differ in extent or in kind from the work of a hermit crab, or a diatom, or of bees in building a honeycomb? When the crow makes a space shuttle to build a space station, we will really take notice.  It’s great fun to watch smart animals, but there is really no comparison, even with chimpanzees.  Think about the tools we take for granted: elevators, automobiles, cell phones, video games, Facebook – these are all light-years beyond pulling a nut out of a cage with a stick.  All things being equal, if we were stuck with beaks and wings, we would probably have computers with peckboards by now and ten thousand ways of interpreting inflections of the word caw.    In a real sense, all living things display intelligence, in that they use coded information to direct energy for functional work.  This makes sense if the intelligence is derived intelligence from a higher intelligence.  Whether in crows, or conch shells, or bacteria, or dolphins, or humans, that intelligence is parcelled out, or programmed, in each organism appropriate to its needs and purposes.  This top-down view of intelligence is natural to us; we build intelligence into our own robots.  The movies are filled with ideal stories of building a robot with the magical something, that sentience, that would make it like us.  Why would we not be the sentient creations of a creative intelligence?  But accounting for the “emergence” of intelligence from the bottom up, on the other hand, begets a thicket of philosophical problems – not the least of which is how one could ever know that is true.    Man is the only living being who makes tools to make other tools.  Only man can think abstractly and communicate instructions for making tools verbally, using language, with complex syntax and semantics, to another person who can understand those instructions and carry them out.  Only humans manipulate symbols and mathematical calculations in their minds; humans can envision a product through a complex series of steps, and organize all the materials, with teamwork as required, to bring it to fruition (04/17/2010).  Humans have the upright posture and complex hands to grip things tightly or manipulate fine objects for tool use.  Only humans consider the use of tools for other than bodily needs, like charity or the arts.  Only humans feel guilt, wonder, curiosity about eternity, a need for understanding, a need for significance.  The makeup of our bodies, our brains, our minds, our eyes, our hands, our ears, our faces, our speaking apparatus, our songs, our emotions, and the immaterial selves of which we are each aware, even as our cells recycle themselves throughout our lives – all these observations make sense if we are truly designed for a relationship with our Maker.  It all started there: with intelligence, communication, and personhood: in the beginning was the Word.(Visited 15 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

Read More →

Mixed Success

first_img@Eden_RichardsAustralia have made the perfect start to their Mixed Open campaign, downing New Zealand 9-6 in an exciting contest at Sunshine Coast Stadium.The win puts the Aussies up 1-0 in their best of three Trans Tasman Series, but they did not have it all their own way as the Kiwis mounted a late second-half comeback.The match may have opened up in the second stanza, but it was a tight low-scoring affair in the first half as both teams put up huge defensive efforts.Adam Pryde opened the scoring for Australia in the 4th minute, giving his side the perfect start to the match after an even first few minutes.The Aussies doubled their lead just a minute later, with Elin Mortimer crossing after being left unmarked on the left wing to make it 2-0.New Zealand had the better field position for the next 10 minutes, but resolute defence from Australia turned back raid after raid from the Kiwis.It looked as if New Zealand wouldn’t be able to take advantage of their dominant field position heading into half-time, but that all changed when they crossed for a touchdown one minute from the break.Danyon Morgan-Puterangi took advantage of an overlap to dive over, giving New Zealand some reward for their time in Australia’s half.But Australia hit back on the half-time hooter, with Leah Opie-Lukins scoring courtesy of an excellent cut-out ball from Michael Singh.It left the score sitting at 3-1 at the break and the Aussies extended their lead two minutes into the second half when Opie-Lukins crossed for her second.But New Zealand soon replied, scoring a touchdown on the right through Rahera Rauwhero to make the score 4-2 with 15 minutes to play.New Zealand’s Tina Ashworth crossed in the 28th minute to cut the scoreline to 4-3 and make Australia nervous, but seconds later Australian Jayden Benbow scored to restore the two-touchdown lead.With 10 minutes to play James Blackwood crossed for his first, giving Australia a 6-3 lead and some breathing room.Benbow then added another touchdown to his name and it was becoming clear that it would be the Aussies’ night as they jumped to a 7-3 lead.But the Kiwis would not lie down without a fight, crossing in the 34th minute through Mackenzie Haugh to keep his side alive.Yet it seemed whatever New Zealand could do, the Australians could do better, with Zara Nicholas replying in the 35th minute to give her side an 8-4 lead.But the Kiwis soon got a reply of their own, with Morgan-Puterangi crossing for his second touchdown of the night as the game began to open up.New Zealand made it two touchdowns in a row late in the match when Nicole Drummond crossed, but the Kiwis left their run too late and their hopes of securing a come from behind win were all but gone when Justin Costello scored for Australia to make it 9-6 to the home side.That’s how it stayed as Australia secured a vital win over their biggest rivals.Australia 9 (Opie-Lukins 2, Benbow 2, Blackwood, Costello, Nicholas, Mortimer, Pryde touchdowns) defeated New Zealand 6 (Morgan-Puterangi 2, Rauwhero, Ashworth, Drummond, Haugh touchdowns)Related LinksMixed Successlast_img read more

Read More →

10 months ago​Stock Market reacts positively to Man Utd axing Mourinho

first_imgTagsPremiership NewsAbout the authorIan FerrisShare the loveHave your say ​Stock Market reacts positively to Man Utd axing Mourinhoby Ian Ferris10 months agoSend to a friendShare the loveManchester United made money despite having to pay Jose Mourinho an estimated £18m by sacking him, according to a football finance expert.The stock market reacted “positively” to Mourinho’s dismissal on Tuesday with the club’s value increasing by £170m, Kieran Maguire, a lecturer at the University of Liverpool, said.”They’ve probably made money by sacking him,” he added. “He [Mourinho] was turning into a toxic brand for the club,” Maguire told Sky Sports News. “The opportunity to have someone in who could be a bit more media friendly, have a positive impact on commercial sponsors and advertisers – the stock market likes the idea of that.”Manchester United, their success in the stock market and as a commercial entity, is very much based on delivering trophies on the pitch. They can’t go for a sustained time without that.””Manchester United is the world’s biggest sports brand and everyone wants to be associated with that because the club is associated with success,” he said.”The gloss of the moderate success Jose Mourinho achieved was beginning to dust slightly.” last_img read more

Read More →