The U.S. Nuclear Energy Dream Is Dying

Submitted by Michael McDonald via OilPrice.com,
The United States was once a projected leader in the nuclear energy race. In the 20th century, the world dreamed of finding a way to provide safe, cheap, and renewable energy, and nuclear power seemed to be the manifestation of those dreams. All of this, however, seems to be coming to an end.
This past week, Toshiba decided to sell its American nuclear power subsidiary at a $6 billion loss. Westinghouse Electric Company, an American company that Toshiba acquired 10 years ago, is in the business of building and constructing nuclear power facilities. This isn’t the first time that Toshiba attempted to offload controlling interest in Westinghouse – all previous efforts, however, have failed.
Many reasons have been cited for this sell-off. Firstly, demand for electricity has been slowing down as of late. Secondly, natural-gas prices have been declining, making it harder to justify the measures necessary to make nuclear power work – one of the primary motivators for these projects was the increasingly high cost of natural-gas. Finally, integration of renewable energy sources (such as wind and solar) have been becoming more prevalent. Again, this makes it harder to justify nuclear energy projects.
However, the biggest barrier to entry for nuclear energy providers is the trade-off between safety and cost. The production of this type of energy can be fast and cheap, but not if companies comply fully with the U. S. nuclear regulatory body. Nuclear energy in America is simply becoming an uneconomic option.

This post was published at Zero Hedge on Feb 25, 2017.

Market Talk- February 24, 2017

Another lacklustre session for Asian equity markets as we approach both the end of week closely followed by the end of the month. The Nikkei and Hang Seng both lost around 0.6% on the day with a small gain registered for Shanghai, but the big talking point remains the bond market and specifically the west. A few people talking about HSBC’s number and Standard Charter expected later but sadly they were to disappoint after Asia closed. SC missed estimates by a country mile and in late trading saw its shares down around 4.5%. They have rallied and were actually the best performing over the past 12 months so today’s fall is a small correction at these levels. Energy and Miners were other weak spots as concerns start to rise as data starts a destabilising display (BHP down 3% today). In late US trading the Nikkei had lost near 0.8% and the JPY trades into the 111 handle.

This post was published at Armstrong Economics on Feb 24, 2017.

Trade Day Momentum Rankings

Friday was the last Friday in the month of February. That is the definition of a trade day for momentum rankings.
Trade Day Momentum Rankings
The table below shows the new momentum rankings for the top ETFs followed in the ETF Rotational Trading System :
Momentum Rankings on Trade Day (2/24/2017)
EWX is the currently highest-ranked ETF. Rankings for the next dozen ETFs are also shown. The table also shows the rankings over the last two months by week.
The three top ranked ETFs are international-oriented funds with the first two specializing in emerging markets. Considering the performance of the US markets (Dow has had 11 consecutive record closings), emerging markets have performed well to be so high-ranked. The other observation from the 13 top-ranked momentum ETFs is the dearth of traditional US funds. Only rankings 4 – 6 (XLV, QQQ and XLP) and 11 (XLK) fit that category. The remainder are either International or precious metals/mining (SLV, GDXJ, GDX).

This post was published at Economic Noise on February 25, 2017.

Charts Of The Week: 10 Reasons To Be Cautious In This Market

Submitted by Lance Roberts via RealInvestmentAdvice.com,
Visualizing 10-Reasons For Caution
Just recently, David Rosenberg in a recent research note, laid out 10-reasons to be cautious in the market. I thought it would be useful to look at each of these in a visual form to get a better idea of what he is addressing.
The obvious reason to look at these indicators is that market records are records for a reason. As I wrote previously:
‘First, ‘record levels’ of anything are records for a reason. It is where the point where previous limits were reached. Therefore, when a ‘record level’ is reached, it is NOT THE BEGINNING, but rather an indication of the MATURITY of a cycle. While the media has focused on employment, record stock market levels, etc. as a sign of an ongoing economic recovery, history suggests caution. The 4-panel chart below suggests that current levels should be a sign of caution rather than exuberance.’

This post was published at Zero Hedge on Feb 25, 2017.

Is that Desperation Hanging Over Europe’s Banking System?

Turns out, Italy’s banking crisis is not fixed.
By Don Quijones, Spain & Mexico, editor at WOLF STREET.
Many of Europe’s and America’s biggest banks have begun begging, cap in hand, for a new, innovative way of raising vast sums of dirt-cheap debt on Europe’s financial markets.
The Association for Financial Markets in Europe (AFMA), an organization that prides itself on serving as ‘the voice of Europe’s wholesale financial markets,’ just sent a strongly worded letter to the European Central Bank, urging for the prompt creation of EU-wide regulation allowing banks to sell a newfangled class of bail-in-able debt called ‘senior non-preferred bonds.’
‘A swift agreement is essential to enable banks to continue increasing their loss-absorbing cushions and improve their resolution capacity,’ says the letter (translated from Spanish).

This post was published at Wolf Street by Don Quijones ‘ Feb 25, 2017.

JPMorgan Explains What Causes The Market’s 3:30pm Ramp

While over the past several years many have observed the peculiar last half-hour ramp in the stock market, leading to a variety of amusing knock-off phenomena, perhaps nowhere was it more noticeable than what happened on the last two Friday afternoons, and especially the most recent one when with the market down notably going into the last 30 minutes of trading, the Dow soared in the last minute, turning green with 7 seconds of trading left, continuing the streak of 11 consecutive all time highs, the longest such stretch since early 1987.

While traditionally the “serious” media has ignored this odd last hour/minute/second ramp, on Friday even Bloomberg was compelled to chime in.
It isn’t over till it’s over. Especially on Friday. For the second time in two weeks, a final-hour ramp in the S&P 500 turned the index green for bulls, with the benchmark equity gauge jumping 6 points in a little over 30 minutes to close with a 0.1 percent advance and help preserve a fifth straight weekly gain. A similar spike salvaged gains seven days earlier.

This post was published at Zero Hedge on Feb 25, 2017.

JPMorgan: Institutions, Hedge Funds Are Using The Rally To Sell To Retail

Last week we reported that for the first time since the election, Bank of America’s smart money clients were, as a group, selling stocks. As BofA’s Jill Carey Hall calculated, after significant buying over the past few weeks, net client sales of $2.1 billion were the largest since June. However, there was a further nuance, one which has emerged as troubling for those calling for sustained gains in the market.
As the following chart shows, while Private Clients, aka high net worth retail investors, have been on a furious buying spreed unlike anything seen in the past decade (green area chart below), prominent institutional clients have skipped the Trump rally altogether and have been net sellers for the past 12 months, with hedge funds joining in over the last few weeks.

This post was published at Zero Hedge on Feb 25, 2017.

Bankrupting OPEC.. One Million Barrels Of Oil At A Time

The world hasn’t really caught on yet, but OPEC is in serious trouble. Last year, OPEC’s net oil export revenues collapsed. How bad? Well, how about 65% since the oil price peaked in 2012. To offset falling oil prices and revenues, OPEC nations have resorted to liquidating some of their foreign exchange reserves.
The largest OPEC oil producer and exporter, Saudi Arabia, has seen its Foreign Currency reserves plummet over the past two years… and the liquidation continues. For example, Saudi Arabia’s foreign exchange reserves declined another $2 billion in December 2016(source: Trading Economics).
Now, why would Saudi Arabia need to liquidate another $2 billion of its foreign exchange reserves after the price of a barrel of Brent crude jumped to $53.3 in December, up from $44.7 in November?? That was a 13% surge in the price of Brent crude in one month. Which means, even at $53 a barrel, Saudi Arabia is still hemorrhaging.

This post was published at SRSrocco Report on February 25, 2017.

“They Want You Purged” – NRA Head Rages Against Violent Left “Terrorists”

Wayne Lapierre, executive director of the NRA. pulled no punches in a fiery speech yesterday, painting anti-Donald Trump protesters as violent extremists and compared their disruptions to terrorism during a speech to the Conservative Political Action Conference on Friday.
As NBC News reports, Lapierre’s comments were among the strongest against the left and the media during the conference in which bashing those opposing Trump’s agenda has been a prominent theme.
“Ladies and gentlemen, another definition of terrorism is violence in the name of politics,” said Wayne Lapierre, executive director of the NRA. “And criminal violence has no place in political debate.” “The left’s message is absolutely clear. They want revenge, you’ve got to be punished,” Lapierre said. “They say you’re what’s wrong with America and now you’ve got to be purged.”
He said many on the extreme left “literally hate everything America stands for” and “are willing to use violence against us.”

This post was published at Zero Hedge on Feb 25, 2017.

Trump Says He Will Skip White House Correspondents’ Dinner

Donald Trump announced Saturday afternoon that he will not be attending the annual White House Correspondents’ Association dinner in Washington, D. C.
One day after the White House announced it had barred CNN, The New York Times, Politico and several other major media outlets from a media “gaggle” in the White House leading to angry protests from the press and several threats of boycotts of future media briefings, in a tweet the president said he will pass on the journalism scholarship benefit dinner in April traditionally attended by major media outlets, celebrity guests and the president and vice president.
“I will not be attending the White House Correspondents’ Association Dinner this year. Please wish everyone well and have a great evening!” he wrote on Twitter.
I will not be attending the White House Correspondents' Association Dinner this year. Please wish everyone well and have a great evening!
— Donald J. Trump (@realDonaldTrump) February 25, 2017

This post was published at Zero Hedge on Feb 25, 2017.

FEB 24/ANOTHER HUGE RISE IN GOLD AND SILVER: GOLD UP $10.60 AND SILVER UP 20 CENTS/ NO CHANGE IN SLV AND GLD INVENTORY/TRUMP ACCUSES CHINA OF BEING THE ‘GRAND MASTER’ OF CURRENCY MANIPULATION/ GE…

Gold at (1:30 am est) $1257.60 UP $10.60
silver was : $18.34: UP 20 CENTS
Access market prices:
Gold: $1257.50
Silver: $18.37
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON
.
The Shanghai fix is at 10:15 pm est last night and 2:15 am est early this morning
The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.

This post was published at Harvey Organ Blog on February 24, 2017.

25/2/17: Eurocoin February 2017: Another Acceleration in Growth

A quick update on Eurocoin, the lead indicator for economic growth in the Euro area. In February, Eurocoin rose from 0.68 in January to 0.75 – hitting the highest level in 83 months and marking 10th consecutive monthly rise. The index has been now in a statistically positive growth territory every month since March 2015.

This post was published at True Economics on Saturday, February 25, 2017.

Get prepared for a major systemic crisis! – Clif High & Lior Gantz Roundtable Interview

The following video was published by FutureMoneyTrends on Feb 25, 2017
Today we have a special interview with 2 guests Clif High & Lior Gantz. We are going to discuss about the future of precious metals and what will happen during 2017 and what are the odds of a systemic crisis coming in the future years. And of course, we are going to discuss how to prepare your portfolio to be ready for what’s coming in the future.

Will the Stock Market Crash Soon?

The Dow’s record-smashing rally is still going, as the index closed at an all-time high for the tenth time in a row yesterday (Feb. 23). But the soaring highs have some investors wondering, ‘Will the stock market crash soon?’
After all, the Dow has soared 14% since Election Day, racing between the 19,000 and 20,000 levels in the fastest 1,000-point jump in its history.
But surging stock prices could be a sign that a stock market crash is coming.
And we see other signs that the stock market is too high.
We want you to be prepared for every possibility at Money Morning. Before we show you how to protect your money from a stock market crash in 2017, here’s why the market could crash…
These Signs Point to a Stock Market Crash Coming Soon
Stock market bubbles form when stock prices soar beyond their true value.
Let’s look at the stock market crash of 1929. The crash destroyed 86% of the value of the Dow between 1929 and 1932. For every $1,000 you owned in the summer of 1929, you had $140 left in the autumn of 1932.
But what caused this historic stock market crash?

This post was published at Wall Street Examiner by Money Morning News Team via Money Morning February 24, 2017.

Shilling: We’re Already in a Trade War with China

Gary Shilling, editor of A. Gary Shilling’s Insight and author of The Age of Deleveraging, told Financial Sense Newshour that the US has the upper hand in a trade war with China that was already underway before Trump’s election.
Here’s some of what Shilling had to say on our podcast (see Gary Shilling: US Holds Upper Hand in Trade Environment for the full audio).
Trade War Conditions
One of the big concerns about President Trump’s recent rhetoric has been the possibility of protectionist actions sparking a trade war. For Shilling, however, this was already happening, even before the election.
‘I think we’re already in a trade war,’ he said. ‘Of course, in any war, it’s the other side that’s always the bad guys…but I think any reasonable person looking at it objectively would say that China’s been running very much a mercantilist policy.’

This post was published at FinancialSense on 02/24/2017.

Meet China’s Biggest Oil Trader: At 39, He Generated $38 Billion In Revenue

Ye Jianming isn’t a name that rings many bells… yet. But, according to SCMP, it will, considering what he’s achieved so far in a country where the state firms take all. As Fortune recently wrote, when it ranked Ye #2 in its “40 Under 40” list, he runs a $42-billion-a-year oil business in China, (No. 229 on the Fortune Global 500), yet few in China know anything about the mysterious tycoon or the firm he created, CEFC.
Ye bought a collection of oil assets in his twenties and secured loans from state-owned banks to expand abroad, a privilege for a private company. CEFC has oil agreements in Kazakhstan, Qatar, Abu Dhabi, and Chad and has gone into ventures with state-owned giants to transport oil to China, making him a rare powerful private player aligned with the Chinese government.
Little else is known about Ye: as of this moment, he is the sole private entrepreneur to win a stake in an Abu Dhabi onshore oil concession (whose lifespan is 40 years) with 4%. British Petroleum and China National Petroleum Corp got 10% and 8% respectively.
Why would state giants like CNOOC and Sinopec Group tolerate that? Simple: Ye holds a ‘full’ licence in China’s financial industry – covering insurance, brokerage, banking, trusts, commodities and asset management, alongside state-owned Citic Group and China Everbright Holdings. Yet what’s so different here from the hundreds of firms that are queuing up for an insurance license?

This post was published at Zero Hedge on Feb 24, 2017.