Wednesday, October 1, 2014

Thursday October 2 Housing and Economic stories


The action is tied to the continuation of a dark trend in the gaming industry's largest market, Macau. This summer was the worst for casinos on the island since 2012. At that time many said that business would recover after the World Cup, when gamblers didn't have soccer games to bet on. But it didn't. To make matter worse, this weekend China released a bunch of abysmal economic data. Industrial production slowed to 2008 levels. Retail sales and fixed-asset investment disappointed as well. The government, however, has indicated that it does not want to continue stimulating the economy through housing and infrastructural investment. This does not bode well for an industry that relies on customers who feel a little rich and a little lucky. "It's just more of the same in Macau," said Jason Ader founder of hedge fund SpringOwl and an early investor in the island's casino business. "I remember you asking me about the analysts who were blaming World Cup on the weakness. I thought it was unrelated. Maybe now they will blame Scotland."

Police seizures of cash rise, fueled by private training firms - (www.bostonglobe.com) After the terrorist attacks on Sept. 11, 2001, the government called on police to become the eyes and ears of homeland security on America’s highways. Local officers, county deputies, and state troopers were encouraged to act more aggressively in searching for suspicious people, drugs, and other contraband. The departments of Homeland Security and Justice spent millions on police training. The effort succeeded, but it had an impact that has been largely hidden from public view: the spread of an intense brand of policing that has spurred the seizure of hundreds of millions of dollars in cash from motorists and others not charged with crimes, a Washington Post investigation found. Thousands of people have been forced to fight legal battles that can last more than a year to get their money back. Behind the rise in seizures is a little-known cottage industry of private police-training firms that teach the techniques of ‘‘highway interdiction’’ to departments across the country. One of those firms created a private intelligence network known as Black Asphalt Electronic Networking & Notification System that enabled police nationwide to share detailed reports about American motorists — criminal and innocent alike — including their Social Security numbers, addresses, and identifying tattoos, as well as hunches about which drivers to stop.

Scotland Prepares For Bank Runs; 'Quietly' Sends Millions Of Banknotes North  - (www.zerohedge.com) As the Scotish independence vote draws near and remains too close to call, some analysts are suggesting Plan B for Scotland may be to choose to opportunistically default. This has done nothing to calm concerns of the aftermath of a "yes" vote - despite US asset managers proclaiming it irrelevant. Nowhere is that more clear than, as The Independent reports, Britain’s banks have been quietly moving millions of banknotes north of the border to cope with any surge in demand by Scots to withdraw cash in the event of a Yes vote in Thursday's independence referendum, it has emerged. Bankers stressed there has been no sign yet of any increase in the amount of withdrawals from deposit accounts or ATMs, but the moves have been taking place over the past week or so in order to make sure ATMs do not run out on Friday in the event of a panic reaction to a “yes” vote.

United offers up to $100,000 if workers leave - (www.cnbc.com) United Airlines says it will offer flight attendants up to $100,000 in severance if they leave the company. The lump-sum payments will be offered in order of seniority to some of United's 23,000 flight attendants. United and the Association of Flight Attendants announced the deal on Monday. United says the early-outs will help it match staffing to its flight schedule and produce a labor contract with the union. Airlines and other companies have used early-out bonuses to entice employees to leave voluntarily. If enough employees accept, it can reduce or avoid layoffs and remove senior, more-expensive employees from the payroll.

Obama To Send 3,000 Ebola-Fighting Boots-On-The-Ground To Africa; CDC Warns America "Now Is The Time To Prepare" – (www.zerohedge.com) On the heels of yesterday's almost unbelievable forecasts of the exponential rise in Ebola case counts - and warnings of a 20% chance of Ebola reaching the USA by year-end, WHO officials have confirmed that their previous forecasts of 20,000 cases "does not seem like a lot today." This has, according to Reuters, the United States announced on Tuesday that it would send 3,000 troops to help tackle the Ebola outbreak as part of a ramped-up response including a major deployment in Liberia, the country where the epidemic is spiralling fastest out of control. Perhaps even more worrisome - for those who explained how 'contained' Ebola was - is the CDC's release of an Ebola checklist warning American healthcare workers "now is the time to prepare."





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