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Sun, 22nd January 2017

Anirudh Sethi Report

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Archives of “franklin d roosevelt” Tag

Iran’s Central Bank Allows Issue of Credit Cards for First Time

According to ISNA, the cards will be issued with the credit limits of $3,000, $10,000 and $15,000. It will be possible to use them both for purchases in stores and online.

“It would be wrong to think that these cards will be quickly adopted by the banking network,” the agency quoted Seif as saying.

The credit cards are set to be issued in the number depending on applications received by the banks.

The Central Bank’s decision comes after in January, the European Union, the United Nations, and partially the United States lifted their sanctions against the Islamic republic after the International Atomic Energy Agency verified Tehran’s compliance with a nuclear agreement reached in July 2015. The lifting of the sanctions cleared the way for Iran to bolster its oil production and economy.

Trump Victory Predicted By Professor Who Has Called Every Presidential Race Since 1984

 

American University Professor, Allan Lichtman, has accurately predicted every U.S. presidential election since 1984 and now he’scalling 2016 for Trump.  Lichtman uses a system he calls the “Keys to the White House” which he developed after studying every election cycle from 1860 through 1980.

Lichtman’s “Keys to the White House” are the following 13 true/false questions, where an answer of “true” always favors the re-election of the incumbent party, in this case, Hillary.  If, however, the answer to six or more of the 13 keys is “false” then the incumbent loses.

Here is how Lichtman answered his “13 Keys to the White House”:

1.  Party Mandate: After the midterm elections, the incumbent party holds more seats in the U.S. House of Representatives than after the previous midterm elections.

Lichtman Answer:  False “They got crushed.”

2.  Contest: There is no serious contest for the incumbent party nomination.

Lichtman Answer:  True

3.  Incumbency: The incumbent party candidate is the sitting president.

Lichtman Answer:  False

4.  Third party: There is no significant third party or independent campaign.

Lichtman Answer:  False – “In his highest polling, Gary Johnson is at about 12 to 14 percent. My rule is that you cut it in half. That would mean that he gets six to seven.”

5.  Short-term economy: The economy is not in recession during the election campaign.

Lichtman Answer:  True

6.  Long-term economy: Real per capita economic growth during the term equals or exceeds mean growth during the previous two terms.

Lichtman Answer:  True

7.  Policy change: The incumbent administration effects major changes in national policy.

Lichtman Answer:  False – “No major policy change in Obama’s second term like the Affordable Care Act.”

8.  Social unrest: There is no sustained social unrest during the term.

Lichtman Answer:  True

9.  Scandal: The incumbent administration is untainted by major scandal.

Lichtman Answer:  True

10.  Foreign/military failure: The incumbent administration suffers no major failure in foreign or military affairs.

Lichtman Answer:  True

11.  Foreign/military success: The incumbent administration achieves a major success in foreign or military affairs.

Lichtman Answer:  False – “No major smashing foreign policy success.”

12.  Incumbent charisma: The incumbent party candidate is charismatic or a national hero.

Lichtman Answer:  False – “Hillary Clinton is not a Franklin Roosevelt.”

13.  Challenger charisma: The challenging party candidate is not charismatic or a national hero.

Lichtman Answer:  True

Brazilian Senate to Hold Vote on Rousseff Impeachment on Wednesday Morning

Brazil's suspended President Dilma Rousseff attends the final session of debate and voting on Rousseff's impeachment trial in Brasilia, Brazil, August 29, 2016Brazil’s Supreme Court President Ricardo Lewandowski had held consultations with senators and was ready to schedule the special session for the vote on 11 a.m. local time (14:00 GMT), the Globo news portal reported on Tuesday.

The portal added that if 54 senators voted for the impeachment, Rousseff would be removed from office, otherwise the impeachment would be terminated and she would resume the presidency. In May, the upper house of the Brazilian parliament voted 55-22 to start impeachment proceedings against Rousseff after she was accused of concealing the country’s budget deficit ahead of the 2014 election. Rousseff regards the impeachment proceedings as an illegal coup attempt. Rousseff has been suspended from office for 180 days. Vice President Michel Temer has being fulfilling the functions of the presidency during that period.

Hillary Clinton wins Democratic nomination for US presidency

Hillary Clinton has been crowned as the Democratic presidential nominee, making history as the first woman to be picked by a major political party to run for the White House, and firing the gun on a fierce battle with Donald Trump.
The former first lady, New York senator, and secretary of state, cleared the penultimate hurdle in her second run for president after Vermont, the home state of her opponent Bernie Sanders, carried her over the 2,383 threshold. There were huge cheers on the floor of the Democratic convention as Mrs Clinton officially became the nominee, ending what had been a bitter and unexpectedly close battle over the past year with the socialist Mr Sanders

The mood on the convention floor was electric as Stephanie Rawlings-Blake, the mayor of Baltimore and secretary of the convention, called on the states to announce their primary votes.

As the Oklahoma delegation declared their results, just minutes before Mrs Clinton clinched the nomination, one woman in the group who was born in 1929, nine years after women were given the right to vote, said: “I never thought that I would live to see this day.”

Donald Trump Wants to Be More Like Putin – US Congressman

Republican presidential candidate Donald Trump’s recent statements indicating he wants to be less predictable in his foreign policy toward Russia is reflecting the qualities of Russian President Vladimir Putin, US Congressman from Texas Louie Gohmert told Sputnik.

CLEVELAND (Sputnik) — On Wednesday, Trump’s top military advisor, Lt. Gen. Michael Flynn told Sputnik that he did not intend to “telegraph” Trump’s Russian strategy to the world.

“He wants to be more like Putin,” Gohmert said of Trump on Thursday.

Gohmer explained that Putin “makes moves he didn’t really announce,” citing the Russian leader’s response to the Ukraine crisis and surprise military engagement in Syria last November.

“So I think they have got a lot in common,” Gohmert stated.

In a Friday interview, Trump refused to answer a question on his approach toward Russia saying, “I don’t want to tell you what I’d do, because I don’t want Putin to know what I’d do.”

Supreme Court says no government minister or official in BCCI (Best Judgement )

No minister or government official can be an office-bearer of the national cricketing body, the Supreme Court on Monday said in a major setback to the BCCI while it also accepted the Lodha Committe recommendation of one state one vote for representation at the BCCI.

A Supreme Court bench headed by Chief Justice T S Thakur in a verdict on Monday said that a person cannot be simultaneously a office-bearer in state cricket association as well as in the Board of Control for Cricket in India (BCCI).

The ruling could affect BCCI President Anurag Thakur who also heads the Himachal Pradesh Cricket Association (HPCA).

Chief Justice Thakur said that Maharashtra and Gujarat which have four and three associations respectively affiliated to the BCCI will now have one permanent representative by rotation and others will be associate members.

The court also accepted the Lodha Committe recommendation for a nominee of the Comptroller and Auditor General of India (CAG) on the BCCI board.

China likely hacked U.S. banking regulator: congressional report

The Chinese government likely hacked computers at the Federal Deposit Insurance Corporation in 2010, 2011 and 2013, according a congressional report on Wednesday that cited an internal investigation by the banking regulator.

“Even the former Chairwoman’s computer had been hacked by a foreign government, likely the Chinese,” staff at the U.S. House of Representatives Committee on Science, Space and Technology said in the report.

The Chinese Embassy in Washington did not have immediate comment on the allegations.

China has long been a prolific hacking adversary for the United States, although intelligence officials believe Beijing has decreased its hacking activity since signing a pledge with Washington last September to refrain from breaking into computer systems for the purposes of commercial espionage.

The congressional report provided the latest example of how deeply Beijing has penetrated U.S. government computers.

Bernard Baruch’s 10 Rules

In his two-volume 1957 memoirs, My Own Story, Baruch left us with the following timeless rules for playing the game:

“Being so skeptical about the usefulness of advice, I have been reluctant to lay down any ‘rules’ or guidelines on how to invest or speculate wisely. Still, there are a number of things I have learned from my own experience which might be worth listing for those who are able to muster the necessary self-discipline:”

1. Don’t speculate unless you can make it a full-time job.

2. Beware of barbers, beauticians, waiters — of anyone — bringing gifts of “inside” information or “tips.”

3. Before you buy a security, find out everything you can about the company, its management and competitors, its earnings and possibilities for growth.

4. Don’t try to buy at the bottom and sell at the top. This can’t be done — except by liars.

5. Learn how to take your losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.

6. Don’t buy too many different securities. Better have only a few investments which can be watched.

7. Make a periodic reappraisal of all your investments to see whether changing developments have altered their prospects.

8. Study your tax position to know when you can sell to greatest advantage.

9. Always keep a good part of your capital in a cash reserve. Never invest all your funds.

10. Don’t try to be a jack of all investments. Stick to the field you know best.

Baruch would later go on from Wall Street to Washington DC as an advisor to both Woodrow Wilson and to FDR during World War II.

Later, he became known as the Park Bench Statesman, owing to his fondness for discussing policy and politics with his acquaintances outdoors.

He lived til a few days shy of his 95th birthday in 1965. You could do worse than to invest and live based on these simple truths.

Bill Gross: “Central Banks Have Gone Too Far In Their Misguided Efforts To Support Economic Growth”

The usual stuff in Bill Gross’ latest monthly letter which could have been picked form the pages of Zero Hedge circa late 2009/early 2010, now that virtually all the “conspiracy theories” we first presented years ahead of everyone have not only been validated, but accepted as New Paranormal canon.

The excerpted highlights:

  • None dare call it a “currency war” because that would be counter to G-10/G-20 policy statements that stress cooperation as opposed to “every country for itself”, but an undeclared currency war is what the world is experiencing. Close to the same thing happened in the 1930’s, a period remarkably similar to what many countries’ policies resemble today.
  • … the U.S. tailwind from competitive devaluation has since stalled – in fact the tailwind has now turned into a headwind. While it was once the only breed in the show, it now competes against better coiffured currencies with their own QE’s and promises to hold interest rates for lower and longer than does the U.S. Japan has a quantitative easing program 2 to 3 times greater than our own in comparative GDP terms and the ECB of course is about to embark on its own grand journey into the vast unknown of bond buying, yield lowering, and presumably further Euro currency devaluation.
  • The universe of negative yielding notes and bonds in Euroland now total almost $2 trillion. Not even “thin gruel” is being offered to our modern day Oliver Twist investors. You have to pay to come to the dinner table and then sit there staring at an empty plate.
  • A more serious concern however, might be that low interest rates globally destroy financial business models that are critical to the functioning of modern day economies. Pension funds and insurance companies are perhaps the most important examples of financial sectors that are threatened by low to negative interest rates.
  • Negative/zero bound interest rates may exacerbate, instead of stimulate low growth rates in all of these instances, by raising savings and deferring consumption.
  • Asset prices for stocks, high yield bonds and other supposed 5-10% returning investments, become stretched and bubble sensitive; Debt accumulates instead of being paid off because rates are too low to pass up – corporate bond sales leading to stock buybacks being the best example. The financial system has become increasingly vulnerable only six years after its last collapse in 2009.
  • Central banks have gone and continue to go too far in their misguided efforts to support future economic growth.

Bernard Baruch’s 10 Rules

You want someone to emulate?

Bernard Baruch (August 19, 1870 – June 20, 1965) was the son of a South Carolina physician whose family moved to New York City when he was eleven year old. By his mid-twenties, he is able to buy an $18,000 seat on the exchange with his winnings and commissions from being a broker. By age 30, he is a millionaire and is known all over The Street as “The Lone Wolf”.

In his two-volume 1957 memoirs, My Own Story, Baruch left us with the following timeless rules for playing the game:

“Being so skeptical about the usefulness of advice, I have been reluctant to lay down any ‘rules’ or guidelines on how to invest or speculate wisely. Still, there are a number of things I have learned from my own experience which might be worth listing for those who are able to muster the necessary self-discipline:”

1. Don’t speculate unless you can make it a full-time job.

2. Beware of barbers, beauticians, waiters — of anyone — bringing gifts of “inside” information or “tips.”

3. Before you buy a security, find out everything you can about the company, its management and competitors, its earnings and possibilities for growth.

4. Don’t try to buy at the bottom and sell at the top. This can’t be done — except by liars.

5. Learn how to take your losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.

6. Don’t buy too many different securities. Better have only a few investments which can be watched.

7. Make a periodic reappraisal of all your investments to see whether changing developments have altered their prospects.

8. Study your tax position to know when you can sell to greatest advantage.

9. Always keep a good part of your capital in a cash reserve. Never invest all your funds.

10. Don’t try to be a jack of all investments. Stick to the field you know best.