Syria Turkey: Syrian government forces have started to reach the north of the country, hours after the government agreed to help Kurdish forces facing Turkey.
Syrian state media say government forces entered Ain Issa on Monday, 30km (19 miles) south of the Turkish border.
The deal came after the US, the Kurds’ main ally, said it would withdraw its remaining troops from northern Syria.
Turkey began an offensive in the region last week, aiming to push Kurdish forces from the border region.
Areas under the control of the Kurdish-led Syrian Democratic Forces (SDF) came under heavy bombardment over the weekend, with Turkey making gains in two key border towns.
Dozens of civilians and fighters have been killed on both sides.
The US announced on Sunday it was preparing to evacuate its 1,000 remaining soldiers from northern Syria.The Turkish offensive and US withdrawal have drawn an international outcry, as the SDF were the main allies of the West in the battle against the Islamic State (IS) group in Syria.
There have been fears about a possible resurgence of the group amid the instability. On Sunday Kurdish officials said nearly 800 relatives of foreign IS members had escaped from a camp in Ain Issa, where the Syrian army reportedly has now reached.
Turkey views elements of the Kurdish groups as terrorists and says it wants to drive them away from a “safe zone” reaching 32km into Syria. Full Story
The K-pop star Sulli has died aged 25
Police told the BBC the singer’s manager found her dead at her home near Seoul, South Korea.
They say they are investigating the cause of her death and are working on the assumption that she may have taken her own life.
The star, who had more than five million followers on Instagram, was a former member of the band f(x) until she left in 2015 to focus on her acting career. Full Story
Macron pension reform: Paris paralysed by massive strike
The French capital is seeing huge jams and massive crowds on the few metro lines running as transport workers strike against planned France pension reform.
Ten of Paris’s 16 lines were shut and service on the others was disrupted.
Many workers cycled, walked or stayed at home, while free rides were on offer on transport operator RATP’s e-moped and Uber’s e-bike and scooter networks.
The strike, the biggest since 2007, is the first big act against President Macron’s plan for a universal pension.
It would replace dozens of different pension schemes for different professions.
Macron unveils reforms after yellow-vest protests
How safe are electric scooters?
Could e-bikes be the future?
Members of other professions including lawyers, airline staff and medical workers have called for more strikes starting on Monday.
What is the situation in Paris?
There were 235km (145 miles) of traffic jams in the Paris region, officials said, more than double normal levels.
Local media showed photos of crammed platforms on four metro lines, where some trains were running.
Le Parisien newspaper said a legal requirement to maintain a minimum level of service – in place following a big strike in 2007, which was also against a pension overhaul – was not being fulfilled.
Three of the city’s five regional rail lines, run by national rail operator SNCF, were running as normal but the two other lines were offering a reduced rush hour service and no trains at all during the rest of the day. Full Story
Myanmar’s deadly ‘jade rush’
The world’s biggest jade mines are found in the restive Kachin state in Myanmar.
BBC Burmese gained rare access to area where mountains have been turned into moonscapes. Full Story
South Africa sexual violence protesters target stock exchange
People campaigning over the high levels of violence against women in South Africa have taken their protest to the financial heart of the country.
Hundreds have gathered outside the Johannesburg Stock Exchange to call on the country’s big firms to do more to tackle gender inequality. Full Story
Malaria vaccine in Kenya – a potential game-changer
The world’s first malaria vaccine is being rolled out in parts of Kenya from Friday, after previously being released in Ghana and Malawi.
It will be added to the routine vaccination schedule, and more than 300,000 children are expected to receive the vaccine over the next three years. Full Story
Hotels in new Orleans near Bourbon street: A large portion of a Hard Rock Hotel under construction in New Orleans collapsed Saturday morning, killing at least two people and injuring 20 others, authorities said. The building bordering the city’s historic French Quarter is considered unstable and officials said further collapse is possible.
Three people were initially reported missing, though one has since been found, according to the New Orleans Fire Department. Authorities said no one on the ground was injured in the collapse.
According to Mayor LaToya Cantrell, 112 people were in the building at the time of collapse. Though the search for those missing was suspended for the evening, Cantrell confirmed that rescuers found two bodies but were unable to retrieve them.
The @NewOrleansRTA announced all bus & streetcar connections in the affected area near Canal & Elk will now be operated at their headquarters at 2817 Canal St. Staff will be on hand to assist riders with rerouted services. Updates at https://t.co/xySimuVThw#HardRockCollapse
Streets surrounding the site were closed and some buildings were evacuated, including the nearby 145-year-old New Orleans Athletic Club.
CBS affiliate WWL shared video of the collapse which showed construction workers running for their lives as the parts of the hotel came crashing down.
Governor John Bel Edwards was at the scene urging residents to stay away from the area. “I’m just asking for everybody to pray for those who are at the hospital,” Edwards told reporters.
Mayor Cantrell issued a statement saying “our hearts break for the loss of life.”
Construction plans for the 350-room hotel include a 12,000 square foot event space, two ballrooms and a residential space, according to a news release. Full Story
Kurds fighting Turks after U.S. withdrawal
The U.S. plans to withdraw 1,000 troops from northern Syria. Donald Trump tweeted on Sunday that it’s “very smart not to be involved in the intense fighting.” Turkish soldiers are attacking Kurdish fighters, who helped the U.S. combat ISIS. It’s estimated 130,000 people have been displaced due to violence. Roxana Saberi reports. Full Story
Nobel Prize in economics 2019 goes to Abhijit Banerjee, Esther Duflo and Michael Kremer
Stockholm — The 2019 Nobel Prize in economics was awarded Monday to Abhijit Banerjee, Esther Duflo and Michael Kremer for pioneering new ways to alleviate global poverty. Banerjee and Duflo are at the Massachusetts Institute of Technology, while Kremer, an American is at Harvard University. The three have often worked together. Full Story
The lies the media and all the experts were pumping during the sell-off phase (Nov-Dec 2018) was that the crowd had to worry about higher rates and an increasingly hawkish Fed. And viola like magic the narrative has changed, now they are talking about a Powell put and how the Fed is turning dovish, which clearly proves two points we have been stating for a long time
Mass Media should be viewed and treated with the same respect one accords to sewage.
The masses (which include the experts) are always on the wrong side of the fence. For the record, these same penguins were stating that the markets were destined to crash last year.
Fear pays Poorly
First of all, we hope that the majority of our subscribers are starting to perceive that succumbing to Fear is a dangerous strategy to adopt. Life and investing should not be stressful; stress is something that every Tactical Investor should abhor. Moreover, remember, stress comes down to perceptions; alter the perception and one can shift from being stressed to being serene.
Experts love to push the argument that investing is hard and that it takes forever to master this art. Remember that investing is an art, not a science and art is meant to be enjoyed. So are the masses starting to jump on the bandwagon after this strong turn around; the obvious answer would be yes_? The not so obvious answer would be ___? Continue reading, and you will find out 🙂
Investors are sitting on a massive pile of cash, and it is growing by the day.
The masses panicked when the so-called Santa Claus rally failed to materialise. What they failed to spot was that Santa was providing the astute player with a lovely shopping list and all the goods were on sale. This January effect was one of the strongest on record and more than makes up for the Santa Claus fail, proving that our stance to remain cool during the so-called December meltdown (opportunity as far we are concerned) was the right posture to take. Santa Claus did not give presents last year, but he provided us with a fantastic list of stocks to buy at a discount price.
To date institutions and individuals have poured billions upon billions of dollars into money market funds. The apparent culprits were; Interest rates, the trade war, government shutdown, Trump investigations and whatever other rubbish you can come up with. Money market assets surged to $3 trillion this January, the highest level since March of 2010, clearly indicating that the masses as always know nothing and jump into the wrong investment at precisely the right time.
Pay close attention to the masses for the data they willingly provide is worth its weight in Gold. Sadly, the masses volunteer for the role of being used as “cannon fodder” over and over again. Try to save them, and they are likely to crucify you to the nearest pole they can find. Watch or read Plato’s allegory of the cave to understand why the masses will never reward anyone that tries to open their eyes.
Common Themes During Stock Market Crashes
The world is ending, and everyone needs to flee for the hills. The wretched media then diligently create a cocktail on steroids, and serve it to the herd; without fail, they fall for the same ploy over and over again.
“Investors can penalize themselves. While money market funds offer safety, they come at a cost as they accept a lower yield,” said Jerome Schneider, head of short-term portfolio management at PIMCO in Newport Beach, California.
https://www.youtube.com/watch?v=BgQ79evjylc
“I like cash now. You can earn a very reasonable return on cash,” said James Sarni, senior portfolio manager at Payden & Rygel in Los Angeles.
We stated all along that the Fed was lying about inflation and now the truth has emerged. Suddenly Powell is changing his tune. Now he has pledged to be “patient” before raising rates; what gives? B.S that is what gives, the Fed’s only function is to foster boom and bust cycles.
“I worry those investors who have long-term horizons may be hurting themselves,” said Kristina Hooper, global market strategist at Invesco in New York.
As always the masses will wait until the very end, then they will jump in and shortly after that the markets will tank. For the masses, the only possible outcome is pain and loss. Investors sitting on the sidelines are already paying the price, quality stocks have made a strong comeback from their Dec lows, and the party has just begun.
PIMCO’s Schneider stated the following, and we could not agree more
“They tend to play it safe for too long,”
What Is Our Response To These Stock Market Crash Stories
It is rubbish end of story, for the markets have already priced this factor in and the experts are now going to spin gossip into news. At the moment they are still pushing the Tariff wars issue, but it will end on the same note; lots of huffing and puffing but the bad wolf will not be able to blow the house down. What will knock this bull out? When the masses are ecstatic; until then all the nonsense that is graciously labelled as “news” should be taken with a barrel of salt and a shot of whiskey.
Despite, the sharp rally the markets have experienced, the masses surprisingly are far from bullish; in fact, the largest number of individuals is in the neutral camp. The current reading; the number of individuals in the neutral camp stands at 37 and bears account for 32; this means that 69% of individuals are still either uncertain or bearish and that has to be viewed as fantastic development.
Courtesy of Tactical Investor
Random views on Sock Market Lies
Stock Market Facing a 2019 Crash: 70% Correction Warning
July 2019 will mark exactly 10 years since the end of the Global Financial Crisis in 2009. It will also mark the longest period of economic expansion on record, surpassing the 1991 to 2001 internet boom.
The question – Is the current boom sustainable?
The 90s economic boom was fuelled by the internet. This economic recovery has been fuelled by historically low-interest rates and cheap credit – a situation many investors and economists say cannot last.
Warning Signs: The End of the Economic Boom
2018 has been the most volatile year in the stock market since the recession, and volatility can make stock market crises more likely.
The Interest Rates and Financial Crises Relationship
As the US economy firing on all cylinders, the Federal Reserve has increased interest rates eight times since 2015. However, as the US nears full employment, there is an increased danger of rising inflation and consumer prices.
Increasing interest rates is a strategy to curb the rise of inflation – increasing the cost of credit and making saving more attractive strikes a balance between people spending and saving.
However, there are also dangers to this approach. Lower consumer spending has a negative impact on the revenue of consumer-facing businesses. Declining revenue then tightens spending across both the consumer and business landscapes. At the same time, higher interest rates make it harder for financially weak companies to meet their debt obligations. Full Story
A Global Market Crash In 2019? 5 Must-See Charts!
Global markets look shaky. Global stocks were volatile this year, and even U.S. stocks have followed their path lower in recent months. The million dollar question is whether this will result in a global market crash in 2019 or whether this is the end of a weak period. After publishing our Stock Market Crash In 2019 Brewing forecast we now look at global markets. Based on these 5 charts we want to make a point about the probability of a global market crash in 2019, and indicate which leading indicators to watch.
InvestingHaven’s recent analysis of the important and violet global market crashes recent decades shows that any important crash started with weakness in currency and credit markets.
In other words any attempt to forecast a global market crash starts with a thorough analysis of leading currency charts as well as yields.
More specifically we have to look for the long term chart patterns, and structural changes in patterns like reversals from secular support or resistance as well as breakouts or breakdowns from secular trends. This is also the focus in this article, and we do so based on 5 long term charts.
The short answer to our question whether we should prepare for a global market crash in 2019: no we do not see enough evidence as of now of a global market crash in 2019 but some of our leading indicators are visibly deteriorating. Full Story
Stock Market Crash Inevitable in 2019: Bitcoin to Rise
Whenever a person buys a bitcoin or any other cryptocurrency, basically you are investing in a market known as the crypto market. Most of the people think that there must be a relation between the current trend of other markets such as the stock market on the crypto market. And if it so, one must be worried about what will happen to the crypto market if the stock market collapse. Also, before that, one must foresee the chances of the stock market to be crashed in the upcoming years.
Well, in this article we will discuss two things which are anyhow interconnected to each other. The first phenomenon that we are going to discuss is the collapse of the stock market in 2019. Is it going to happen and what are the chances of the stock market crash in 2019? In the next section, we will discuss how if the stock market crashes in 2019, it will uplift the crypto market and bitcoin will rise due to it. So, let us first focus on how the collapse of the stock market is inevitable in 2019.
The stock market going to crash in 2019:
It has been ten years that a stock market crashed. As per the trade experts, the stock market is definitely going to collapse this year. The year 2018 itself was one of the worst years for stock market after 2008. Let us have some facts regarding the stock market current scenario: Full Story
The data below serves as further proof that the economic recovery is nothing but an illusion. It has only benefited those who don’t really need it. The rich have become even richer, the middle class has vanished and the poor are becoming even poorer.
Real incomes have been flat to down slightly for the average household in the bottom 60% since 1980 (while they have been up for the top 40%).
Those in the top 40% now have on average 10 times as much wealth as those in the bottom 60%. That is up from six times as much in 1980.
Only about a third of the bottom 60% saves any of its income (in cash or financial assets).
Only about a third of families in the bottom 60% have retirement savings accounts—e.g., pensions, 401(k)s—which average less than $20,000.
For those in the bottom 60%, premature deaths are up by about 20% since 2000. The biggest contributors to that change are an increase in deaths by drugs/poisoning (up two times since 2000) and an increase in suicides (up over 50% since 2000).
The top 40% spend four times more on education than the bottom 60%.
The average household income for main income earners without a college degree is half that of the average college graduate.
Since 1980, divorce rates have more than doubled among middle-aged whites without college degrees, from 11% to 23%.
The number of prime-age white men without college degrees not in the labor force has increased from 7% to 15% since 1980. Full Story
What should you do?
Sentiment indicates the masses are not bullish so this market is not ready to crash. Instead of panicking make a list of stocks you would like to own and when the market’s pullback, buy these quality stocks at a huge discount.
Religious right sticks by Trump as political heat rises: As the threat of impeachment looms, President Donald Trump is digging in and taking solace in the base that helped him get elected: conservative evangelical Christians who laud his commitment to enacting their agenda.
Prominent evangelicals who have proven Trump’s most stalwart allies are staying in his corner for the impeachment fight, even as some push back against his withdrawal of U.S. troops from northern Syria — a move that imperils scores of Kurdish Muslims and Christians in the region.
Although Trump’s Syria pullback is alarming conservative Christians whose support he needs to win reelection, their rallying against his impeachment indicates a bond that appears strong enough to withstand the current foreign policy rift as 2020 balloting nears. Full Story
NTSB: Firm tied to collapsed Miami bridge wasn’t qualified
MIAMI (AP) — The firm that reviewed the design of a Miami university bridge that collapsed and killed six people last year was mistakenly listed in a Florida state report as qualified for that type of project even when it wasn’t, federal documents show.
The National Transportation Safety Board released nearly 6,300 pages of reports Tuesday examining the role of each contractor in the construction of the pedestrian bridge at Florida International University that collapsed March 15, 2018 onto eight cars.
NTSB says the Florida Department of Transportation listed the company Louis Berger Group, Inc. on a website-generated report as prequalified to evaluate the construction of a complex concrete bridge. FDOT told investigators it was a “technical error” on its website, as the company was not actually allowed to review that project.
In emails between FDOT representatives and an NTSB investigator, the state’s transportation department said firms involved in the project should not have simply relied on the website as proof of Louis Berger’s credentials, and should have done their own due diligence, such as seeing an actual letter of qualification from the state. Full Story
Brexit Boris Johnson Prime Minister: EU countries have agreed to “intensify” Brexit talks with the UK over the next few days.
The development comes after a meeting in Brussels between Brexit Secretary Steve Barclay and EU chief negotiator Michel Barnier, described by both sides as “constructive”.
But UK Prime Minister Boris Johnson said there was “a way to go” before a deal could be reached.
The UK is due to leave the EU at 23:00 GMT on 31 October.
A European leaders’ summit next week is seen as the last chance to agree a deal before that deadline.
Mr Johnson put forward revised proposals for a deal last week, designed to avoid a hard border on the island of Ireland after Brexit.
Speaking on Friday, he said there was not “a done deal”, adding: “The best thing we can do now is let our negotiators get on with it.”
In a statement, the European Commission said: “The EU and the UK have agreed to intensify discussions over the coming days.”
BBC Brussels correspondent Adam Fleming said that, although there would be a “measure of confidentiality”, EU states would still be briefed on any developments.
In Paris, French President Emmanuel Macron was asked if there was hope of a deal, replying: “Let’s wait for the next few hours.”
Meanwhile, the pound rose to a three-month high against other major currencies, amid increased investor optimism over an agreement. Full Story
Nobel Peace Prize: Ethiopia PM Abiy Ahmed wins
The 2019 Nobel Peace Prize has been awarded to Ethiopian Prime Minister Abiy Ahmed who made peace last year with bitter foe Eritrea.
He was awarded the prize for his efforts to “achieve peace and international cooperation”.
Mr Abiy’s peace deal with Eritrea ended a 20-year military stalemate following their 1998-2000 border war.
He was named as the winner of the 100th Nobel Peace Prize in Oslo, where he will receive the award in December. Full Story
It takes a special kind of stupid to be a Permabear; the one that even a thousand hard slaps will not alter. Perma-Bears have a death wish; they are begging to be taken to the cleaners for nothing else can explain this short-sighted way of thinking. A simple examination of any long term chart will prove once and for all that being a Permabear is never going to pay off. There is not one long term chart that can prove that taking a bearish stance, in the long run, has ever paid off.
Whatever trend line you use, the 1st or the second one, the above 100-year chart of the Dow clearly proves that Permabears are in the wrong when it comes to investing.
The solution is simple
Focus on the simple factors, for that is what helps determine the trend; factors such as mass sentiment, and extreme patterns (technical analysis) on the charts. The news is not an essential factor; in fact, toilet paper has more relevance than news; at least it serves a noble function; one cannot say the same of news.
Anyone that advocates giving into fear should be thrown head first out of the front door(figuratively speaking that is) and never allowed back into your house or mind; fear never pays off; only the vendors of fear will make a handsome buck, the buyers will lose their pants, their shirts and their knickers too.
Marc Faber is a classic example of A PermaBear that is full of rubbish
This dude has made prediction after prediction calling for the mother of all crashes since the inception of this bull (2009) but the only thing that has crashed so far are his predictions of a crash. He would probably make a very good science fiction writer, for he seems to spend a lot of time concocting scenarios that have a very low probability of coming to pass.
Here he states that we are going to experience a great recession in 2018
Turns out once again the only recession was in his predictions, which for now, are the only thing that has been in a bear market. Hence if you are a Permabear on his ability to predict market direction it could actually pay off.
Then he goes on to state the party is going to end in 2018
Random Musings on being a Permabear
First of all, we hope that the majority of our subscribers are starting to perceive that succumbing to Fear is a dangerous strategy to adopt. Life and investing should not be stressful; stress is something that every Tactical Investor should abhor. Moreover, remember, stress comes down to perceptions; alter the perception and one can shift from being stressed to being serene.
Experts love to push the argument that investing is hard and that it takes forever to master this art. Remember that investing is an art, not a science and art is meant to be enjoyed. So are the masses starting to jump on the bandwagon after this strong turn around; the obvious answer would be yes. The not so obvious answer would be no Continue reading. Turns out at least in the first half of 2019, the not so obvious answer would be the right choice. The masses are still nervous and until they start to dance on the streets, every strong correction should be viewed through a bullish lens.
Conclusion
This bull market is unlike any other; before 2009, one could have relied on extensive technical studies to more or less call the top of a market give or take a few months; after 2009, the game plan changed and 99% of these traders/experts failed to factor this into the equation. Technical analysis as a standalone tool would not work as well as did before 2009 and in many cases would lead to a faulty conclusion. Long story short, there are still too many people pessimistic (experts, your average Joes and everything in between) and until they start to embrace this market, most pullbacks ranging from mild to wild will falsely be mistaken for the big one.
The results speak for themselves; the majority of our holdings were in the red during the pullback, but now they are in the black, proving that one should buy when there is blood flowing in the streets. It is a catchy and easy phrase to spit out but very hard to implement, because when push comes to shove, the masses will opt for being shoved.
Courtesy of Tactical Investor
Random views on Permabear
Another warning light is blinking on the dashboard of the US economy. This time it is the inflation-tied Consumer Price Index (CPI) which has the bears scurrying for their bomb shelters. David Rosenberg, a so-called perma-bear, was filling Twitter feeds with his unique brand of doom and gloom for the Dow Jones and wider US stock market.
GLUSKIN SHEFF ECONOMIST: CPI DATA PORTENDS RECESSION
David Rosenberg
Today’s CPI did miss targets against an expectation of a 0.2% increase relative to the 0.1% reading. The Dow Jones is easing gently off its highs today as well, having lost 53.29 points as of the time of writing.
In isolation, that’s a snoozefest, but Mr. Rosenberg did note something particularly interesting about the data as a predictor of recession. Apparently, he is using price pressure as a sort of alternative yield curve.
BOND-YIELD INVERSION: A STRONG INDICATOR OF RECESSION
Given that interest rates are always somewhat interconnected with inflation due to the Fed’s approach to monetary policy, this is not particularly ground-breaking. It is interesting, though, particularly with the bond market teetering on the brink of inversion. Full Story
A prominent Wall Street permabear says the stock market is ‘stoned on free money’ and it could ‘prove fatal’
One prominent strategist says the market is high literally and figuratively. Albert Edwards, global strategist at Société Générale, cautioned on Thursday that stock markets were becoming “stoned on free money,” leaving them “detached from reality.” It’s a condition that the strategist says could “prove fatal,” in the end.
U.S. equity benchmarks — and those across the globe — have roared back from a late-2018 selloff that culminated in one of the worst December returns in years, but Edwards says, in a Thursday note, that those gains have been largely aided by central banks that are willing to “inject another dose of euphoria into its market patch.”
Indeed, since a Dec. 24 low last year, the Dow Jones Industrial Average DJIA, -0.70% and the S&P 500 index SPX, -0.50% have both advanced by about 20%, while the Nasdaq Composite Index COMP, -0.22% has returned about 23%, thus far, as of trading midday Thursday, according to FactSet data.
Easing trade-war tensions between the U.S. and China have helped stocks rebound, but a policy pivot by the Federal Reserve in January arguably delivered the most substantial shift in investor sentiment over recent weeks.
The Fed, headed by Chairman Jerome Powell, said it would be more patient in assessing future rate moves, and minutes of the January gathering released on Wednesday indicated that its efforts to reduce a $4 trillion asset portfolio could conclude as early as the end of 2019. Full Story
Permabear Sentiment Index
Yesterday, I have created a download item that creates an index called the Roubini Sentiment Indicator. The same guys who created this indicator also created another one called the Permabear sentiment index. Permabear refers to people who are always pessimistic and negative about the future direction of the economy and markets. The Permabear sentiment index is built using aggregate keyword volume data from Google Trends. The index is the result of the sum of four Google Trends popularity indices; the keywords used to create these indices are: Roubini, Peter Schiff, Marc Faber and Nassim Taleb.
The item will login in your Google account, load Google trends and create a Google Trends popularity index for each permabear. It will then download the data, parse it, calculate the sum of each permabear volume data and then save the result in ticker symbol: ^GOOGLE_TRENDS_PERMABEAR. As with the Roubini Sentiment Indicator, you must set the email and password fields of this download item to your Google email and password (Select the item, click on Update, click on the “2 Field(s)” button).
The author of the Permabear Sentiment Index claims that the Permabear Sentiment Index can make 3.5% over a short period of 3 weeks compared to the 1.6% yield of the Roubini Sentiment Indicator over the same period. The author gives one reason behind the good performance of this index. Full Story
Venture funding for AI is surging as evidenced by the chart below and the trend is showing no signs of letting up; in fact, the trend is so powerful that one can almost start with certainty that technology-driven deflation is going to be a very powerful force to reckon with. Imagine, small companies having the power to do what Amazon does but on a different scale. For example, flippy the burger bot replaces several workers saving a business up to 100K a year
“We are excited about the impact Miso’s AI-based solutions will have for the restaurant industry. Humans will always play a very critical role in the hospitality side of the business… We just don’t know what the new roles will be yet in the industry.”
The Bot will never get tired, never need uniforms and it’s not going to get sick or complain. Bottom line it is the perfect worker for small business burger joints that are looking to contain their costs and improve their services. As for the big players are concerned, it has the potential to reduce their overhead by billions. Last but not least, companies won’t have to worry about paying a minimum wage of up to $15 an hour and providing benefits
Little Caeser’s want to create their own Bot
Pizza chain Little Caesars has been awarded a patent for an AI-based robotic system that will help assemble Pizzas at a significantly faster pace. The patent includes two robots, one stationary arm and another fully-fledged robot chef to handle the dough and take care of oven duties.
According to the company’s explanation in the patent, the robot would free Little Caesars from the tedium of repetitive tasks and allow them to “perform other value-added tasks.” Presumably, that’s the same thinking that gave us Flippy, the burger-flipping robot.
It doesn’t appear to actually cook the pizzas or slice them, and the only listed topping is pepperoni — though it probably wouldn’t be hard to adapt it to other toppings. I’m sure there are only so many ways one can “properly distribute” pineapple or olives. Still, there are other robots already doing the things this particular one can’t — Zume Pizza in Silicon Valley, for example, can shape the dough and bake the pizzas at a rate of 372 an hour.
If Little Caesars were to ever combine their robot with Pizza Hut’s self-driving pizza delivery truck, the only human force we’ll ever need will be a single human to load the pizzas into the car. Full Story
Could the pizza bot move like Flippy? Time will tell
“Now he moves like a ninja and is more reliable,” says David Zito, the CEO of Miso Robotics, which created Flippy.
“We’ve been trained since childhood that robotics were coming in the future,” notes Louise Perrin, an accountant who works nearby. “To be a part of it, to see it and watch it happen live in front of you … is absolutely incredible.”
“I had to come in and see Flippy,” she says. “I’d heard the buzz. The concept of a robot flipping your burger is awesome.”
Central Bankers action could Fuel Technology-Driven Deflation
The shrinkage of the U.S. Federal Reserve’s balance sheet has played a significant role in exerting upward pressure on borrowing costs as parts of the U.S. economy have shown signs of decelerating, a study from the Kansas City Federal Reserve released on Wednesday showed.
The model developed for the study showed the level of reserves plays “an important role in determining the federal funds-IOR spread over the medium- and longer-term and that repo rate dynamics play a relatively less important role,” A. Lee Smith, a Kansas City Fed senior economist and the author of the study, wrote. Full Story
The China Factor
It is premature to say China is coursing toward a Japan-like falling-prices drama. Yet recent data warrant a moderately sized blip on investor radar screens. In November, consumer prices slid 0.3% from a month earlier, while producer prices fell 0.2%. On a year-on-year-basis, producer prices advanced just 2.7% in November, the weakest reading in two years (consumer prices are up 2.2% from a year ago).
Bond traders are taking no chances. Earlier this week, 10-year yields dropped to 3.27%, the lowest in more than 18 months. And, really, they have every reason for gloom considering the headwinds blowing China’s way — and how they may intensify next year. Full Story
Ebola Congo: Efforts to halt an Ebola epidemic in the Democratic Republic of Congo have made “significant progress”, with the virus now contained to a far smaller and mainly rural area, the World Health Organization (WHO) said Thursday.
“We have put the virus in the corner,” Michael Ryan, the executive director of WHO’s Health Emergencies Programme, told reporters in Geneva.
“I believe we have really squeezed the virus into a much smaller geographical area,” he said.
Ebola is now essentially only transmitting within an area of eastern DRC between Mambasa, Komanda, Mandima and Beni, he said.
DRC’s latest Ebola epidemic, which began in August 2018, has killed 2,144 people, making it the second deadliest outbreak of the virus, after the West Africa pandemic of 2014-2016.
At the height of the latest outbreak, 207 “health zones” were affected by Ebola, a figure that now stands at only 27, Ryan said.
But he stressed that despite a “much lower level of transmission”, the danger was not over.
“The fact that it is a smaller space is positive, but … the disease has moved into more rural and more insecure areas,” he warned.
Ebola fighters have been hindered by militia attacks in eastern DRC, as well as by resistance in communities to some of the methods used to rein in the virus.
‘Kill the virus’
“Containing a virus is a different prospect than to eliminate that virus from human populations,” Ryan said. Full Story
Ukraine president: ‘No blackmail’ in conversation with Trump
KYIV, Ukraine (AP) — Ukraine’s president insisted Thursday that he faced “no blackmail” from President Donald Trump in their phone call that helped spark an impeachment inquiry, distancing himself from the U.S. political drama and trying to claw back his own credibility. Full Story
GM workers worry about paying bills as strike continues
TOLEDO, Ohio (AP) — Nearly four weeks into the United Auto Workers’ strike against General Motors, employees are starting to feel the pinch of going without their regular paychecks.
They’re scaling back at the grocery, giving up on eating at restaurants and some are taking on part-time jobs while trying to get by on weekly strike pay of $250. Full Story
