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Weekly Indicators: Drowning in Oil edition
This week featured better than expected retail sales, industrial production, and capacity utilization. Wholeshale inventories increased, but sales increased even more, a very bullish indicator. The trade balance showed a bigger deficit, driven by higher imports. Consumer sentiment was in line with expecations, which weren't much.
The high frequency weekly data continued to show a strengthening recovery:
▪ The International Council of Shopping Centers (ICSC) reported same store sales for the week ended May 8 rose 4.3% from the year-earlier period. On a week-over-week basis, sales inched up 0.1%. Shoppertrak failed to report.
The Department of Energy reported that the price of gasoline remained steady at $2.90 per gallon. Gasoline demand for the week was up by several million barrels vs. a year ago. Inventory still is high and climbing. Gasoline remains only 10 cents under the psychological $3/gallon mark where I suspect there will be a significant bite. On the other hand, Oil plummetted through $75 a barrel this week and as of mid-Friday, was selling at about $71.50 (which appears to break an 8 month trendline to the downside). If that lasts, gasoline prices will come down significantly.
The BLS reported that last week's initial jobless claims totaled 444,000. The 4 week moving average was reduce to 450,500. This series remains in a downtrend, albeit a more muted downtrend than last year.
The American Staffing Association's weekly report showed that
During the week of April 26–May 2, 2010, temporary and contract employment increased 1.17%
This was the 12th straight week of increases in temporary hires. Increases in temporary staffing are a leading indicator, so this bodes well for the jobs report.
Railfax this week showed almost all sectors neither gaining nor declining over last week. Intermodal traffic, which is a proxy of imports/exports, did gain slighly compared with last year.
Finally, Daily treasury receipts continue their gains over last year. As of May 12, 2010, for the last 20 reporting days, $130.2B in withheld taxes had been collected vs. $123.7B last year, a gain of $6.5B or +5.2%. So far, May 2010 is also running ahead of May 2009, $57.8B vs. $54.8B.
April Retail Sales up 0.4%, March revised higher
Contrary to bearish expectations raised earlier this week, April retail sales came in higher, +0.4% over March and +8.8% (not adjusted for inflation) over last year.
Stripping away autos, sales also came in +0.4%. This was the 7th straight month of retail sales increases.
Further, March's already blazing hot retail sales were revised even higher, up +2.1% overall (vs. +1.9%), and up +1.2% ex autos (vs. +0.9%).
Of course, we don't know what "real" inflation adjusted retail sales will be, but it is almost certain it will remain a positive number. Since April 2009 witnessed a decline from March, this will bring YoY real retail sales closer to +6.0%. As I have pointed out several times, YoY real retail sales growth is a leading indicator for YoY employment growth. So this month's report increases the likelihood that we will have stronger job growth than generally anticipated.
Also, the fact that auto sales held up despite the ending of Toyota's sales incentives is a good sign that gasoline prices haven't yet caused consumers to pull in their horns on other spending.
Yesterday's Market
Let's start with the dollar, because it is still catching a safety bid
After gapping down on Monday (a), prices have continue to move higher (b) out of concern for the euro. What's interesting is the dollar is catching the bid here.
The EMA picture is very strong as all the EMAs are increasing, prices are above all the EMAs and the shorter EMAs are above the longer EMAs. There is plenty of momentum (b) and money is flowing into the security (c).
There are two uptrends in place -- a and b. B is steeper -- which usually can't last as long as a gentler rise. Also note all the price gaps on the dollar (c).
A rising dollar should be hurting commodities -- and it is in the case of some like oil.
Note the prices moved lower (a), through the 200 day EMA. Prices have since been bunched at low levels (b) on very weak candles. The EMA picture is deteriorating (c) with the shorter EMAs (10 and 20 day EMA) moving through the 200 day EMA and the 50 about to move through the 200 day EMA. Momentum is decreasing (d) and money is flowing out of the security. There are several fundamental reasons for this drop. First, oil supplies are increasing and there is increased concern about Europe's ability to continue growing.
However, gold is bucking the trend.
Prices spent most of the first part of the year consolidating in a triangle consolidation pattern (a). After breaking out, prices fell back to test the upper line of the triangle (c). Prices then rose through previous resistance, gapping higher several times (d). Momentum is positive (e) and money is flowing into the security (f).
In the Treasury market, notice that while prices have fallen from last week's spikes, they are still consolidating above the 200 day EMA, indicating traders don't know whether to send this part of the market into a bear market or not. Also notice the IEFs and TLTs are still in an uptrend.
As for the equity markets, let's take a look at the SPYs
Prices dropped to the 200 day EMA (a), but hit upside resistance at the 20 day EMA (b). Also notice the shorter EMAs are either moving sideways or lower, indicating a downward bias.
In yesterday's trading, prices stayed in a pretty tight range for most of the day (a). But they started to fall near closing (b) in increasing volume (c).
Right now, the markets are still concerned about the European situation and the economy as a whole. The large caps stocks -- which should be doing well -- are having a hard time getting above key technical levels. The Treasury market is still trading above the 200 day EMA. gold is rallying and the dollar is catching a safety bid.
Jobless Claims Drop
Initial jobless claims show improvement but only mild improvement for the labor market. Initial claims in the May 8 week slipped 4,000 to 444,000, a dip offset by a 4,000 upward revision to the prior week. But the four-week average is improving, down 9,000 to 450,500 for the lowest level since late March and the second healthiest level of the recovery.
Here's the chart:
To me, we're still moving sideways, although that has not hurt the job growth situation.
Remittances Increase
From the FT:
Immigrant workers in the US have started sending more money back to their home countries after cutting back sharply last year, yet another sign that the global economy is showing resilience.
Wells Fargo, the US bank, is expected to announce on Thursday that it saw a sharp rise in global remittances, especially from the US to Mexico, in the days leading up to Mother's day, the busiest time of year for such money transfers.
The dollar volume of global remittances jumped 57 per cent compared with a year ago in the week leading up to the holiday, a record figure, said Daniel Ayala, head of Wells Fargo's global remittance business, which is the largest among banks that provide the service.
About that Foreclosure Tsunami: Not So Much?
Last month I wrote about having a little debate with another blogger who viewed the March increase in foreclosures over February as the beginning of a new "tsunami." I countered that the data actually was more consistent with the crest of the foreclosure wave than the beginning of a new one, but that it could also be consistent with there being a lull during the "eye of the hurricane," and that,
if there is a new wave, or a "back side of the hurricane", then the percentages and the raw numbers of foreclosures ought to start increasing quickly. If, on the other hand, the 2nd derivative continues to be negative, then we ought to see foreclosures tip over into YoY negative percentages in the next few months, or certainly by the end of the year.
Well, this morning Realty Trac reported that April foreclosures
show[ed] that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 333,837 properties in April, a 9 percent decrease from the previous month and a 2 percent decrease from April 2009....
"There were two important milestones in the April numbers that show foreclosure activity has begun to plateau — but at a very high level that will not drop off in the near future," said James J. Saccacio, chief executive officer of RealtyTrac.
So, here is the updated chart of year over year changes in foreclsoure activity for the last 13 months:
YoY % change
actual foreclosures
04/2009 +32 342,038
02/2010 +6 308,524
04/2010 -2 333,837
That certainly looks more like the cresting of a wave than the beginning of a new one.
The genesis of the "second wave" story goes back to stories that started making the rounds in late 2006 noting that mortgage recasts and resets were due to hit in two waves: the first in 2007-08, and the second this year and 2011. I have always been a little chary of that notion, because, while in 2006 lots of people were still deluding themselves that "real estate only goes up!" by 2008 and certainly 2009, they had been disabused of that notion. Thus, a lot of those homeowners, who were probably deeply underwater, already let their houses go into foreclosure, or else worked out a refinancing before now.
With the April data, that scenario is looking more correct. Still, I'm not ready to declare the notion of a second foreclosure tsunami dead yet, because of the lagging nature of YoY data. But another 2 or 3 months like this and it may be "pining for the fjords" ....
Labels: foreclosures
Let's start with the IWMs. We have a gap down on last Tuseday's open (a) followed by a general decline (b). Prices gapped higher on Monday after the announcement of the EU rescue package (d). Prices have rallied since, printing a strong upward move (d). From trough to peak there is nearly a 10% increase.
We don't see the SPYs rally with nearly the same vigor. First, after a gap higher (c) prices don't rally nearly as strongly, but instead stay within a general box with a slight upward tendency. In addition, the overall gain from Friday's close to yesterday's close is 5.4% 00 far lower than the IWMs.
At the same time we have a stock market rally, the Treasury market has fallen, gapping down (b) after a strong safety bid rally (a). Prices have moved lower, but not at a strong downward angle (c).
The next puzzle piece is the dollar:
After a very strong rally (b) that contained a lot of upward gaps (a), prices dropping on Monday (c). But they have since risen (d) out of concern for the long-term viability of the EU rescue package (d). As a result, we've see commodity prices stall.
Oil is consolidating after a strong price drop. Part of this is a stronger dollar, and part is increased US supplies along with concern about a drop in demand from the US.
Agricultural prices have dropped, but not as far as oil prices. But also notice the consolidation over the last several days.
Industrial metals have also consolidated, partly because of the dollar, but also because of concern regarding a drop in Chinese demand.
The verdict on the EU plan is clear:
Still, three days after the eurozone bail-out was launched, the verdict is becoming clearer: equities and bond markets like it but single currency traders and gold investors are less sure.
What Really Happened on Thursday?
One way to look at what happened Thursday -- as described by a source deeply familiar with the exchange system -- is to think about U.S. stock exchanges as a series of pools connected by canals.
Each pool has buy and sell orders coming into it. If a pool cannot offer the best price in the market, it reroutes the order to the pool with the best price. This process happens all day long, and keeps the pools at a healthy balance with one another.
On Thursday, investors were selling shares aggressively because of concerns about a potential default by Greece and a financial contagion in Europe. As several stocks declined sharply under heavy selling pressure, the New York Stock Exchange, one of the largest pools, stopped or slowed trading in particular stocks.
As part of that process, the NYSE held on to "buy" orders, in the hopes that it could gather enough of them to meet the selling demand. "Sell" orders that came to the NYSE were rerouted to other exchanges, which were not required to slow trading. Those other exchanges were soon overflowing with sell orders and didn't have enough buy orders to meet them, leading to the rapid decline in prices.
The declines were exacerbated by Wall Street's heavy reliance on computer-trading programs that make lightning-fast decisions, based on complex mathematical rules, about what to buy and sell without human input.
Wholesale Inventories Increase
US wholesalers saw their sales and inventories rise in March, as businesses ramped up orders to meet growing demand, official figures showed on Tuesday.
Inventories rose by 0.4 per cent to $394.8bn, according to the commerce department. That was slightly lower than Wall Street estimated but marked the third straight month that inventories increased, bringing them to the highest level in eight months.
Rising sales outpaced inventories, climbing by 2.4 per cent to $348bn. Sales increased 15.8 per cent year on year and recorded the sharpest monthly rise since last November. In February, inventories were up by 0.6 per cent.
There are a few stand-out points from the report. As the article notes, sales outpaced inventories. That means we will probably see continued improvement in this area as inventories are still at low levels.
Secondly, lumber sales increase 16.3%. While lumber has sold-off over the last few weeks in sympathy with the general commodities sell-off, this is still a good sign going forward, especially for the housing market.
Here's a link to the census report.
Prices had a nice rally yesterday (a), but then lost most of their gains in the afternoon(b). Prices did find support at the 200 minute EMA (c). But pay particular attention to the volume -- especially the blue line that denotes the 25 minute average of volume. The average was lower for the rally (d) than the sell-off (e).
The last two days, prices have printed very weak bars (a) right below the 10 minute EMA. In other words, prices are still in a bearish position. In addition, the shorter EMAs -- the 10, 2o, and 50 minute EMAs -- are moving lower indicating the short-term trend is down. Also note the volume situation (c). The heavy down days printed huge volume. But those numbers have backed-off for now.
Also note that riskier assets like the Russell 2000 are also below the EMAs (a). That tells us that traders are still hesitant about the markets right now.
Gold hit a record high yesterday, and the GLD chart looks very bullish. Prices are in a clear uptrend (a) and have moved through important resistance levels (b, c and d). There are also several gaps (e) in the rally. The EMA picture is very bullish with the shorter EMAs about the longer EMAs, all EMAs moving higher and prices above all the EMAs (f). Also note the heavy volume over the last 4 days (g). The only drawback to this chart is it is parabolic -- th erate of ascent is incredibly steep which no price chart usually maintains for long. In addition, the heavy volume could be a buying climax with the addition of an exhaustion gap. However, that's one possible technical interpretation. The fundamental picture is gold bullish as traders express their concern with the EU situation by purchasing safe assets -- here, gold.
Industrial metals have also dropped and are currently at a bottom. Prices started to drop with the bar (a), then moved into a sideways consolidation pattern at (b). Price then took a big move lower at (c) where prices gapped down twice in two days. Prices are currently consolidating at (d) on high volume (e) near the 200 day EMA. Also note the EMA picture (f): all the EMAs are moving lower, the shorter EMAs are below the longer EMAs and prices are below all the EMAs.
Fundamentally, this is the result of China tightening its money supply through and increase in reserve requirements. China is the largest consumer of raw materials for production.
Notice on the daily chart how prices are clustering around a 40 cent range from 19.80 to 20.20.
On Greece
Like the giant financial bailout announced by the United States in 2008, the sweeping rescue package announced by Europe eased fears of a market collapse but left a big question: will it work long term?
Stung by criticism that it was slow and weak, the European Union surpassed expectations in arranging a nearly $1 trillion financial commitment for its ailing members over the weekend and paved the way for the European Central Bank to begin purchases of European debt on Monday.
Markets rallied around the world in response to the concerted defense of the euro, a package that exceeded in size the United States bank bailout two years ago.
Major stock indexes in the United States rose about 4 percent on Monday, while a leading index of blue-chip stocks in the euro zone rose more than 10 percent. The premium that investors had been demanding to buy Greek bonds plunged. But by Tuesday, that rally appeared to have sputtered out, with many Asian markets down slightly.
And as details crystallized of the package's main component — a promise by the European Union's member states to back 440 billion euros, or $560 billion, in new loans to bail out European economies — the wisdom of solving a debt crisis by taking on more debt was challenged by some analysts.
"Lending more money to already overborrowed governments does not solve their problems," Carl Weinberg, chief economist of High Frequency Economics in Valhalla, N.Y., said in a note. "Had we any Greek bonds in our portfolio, we would not feel rescued this morning."
First, a bail-out was inevitable. Regardless of the philosophical debate regarding whether or not this creates a moral hazard, the reality is this: letting Greece or any of the others states involved fail leads to social unrest in a variety of countries across the European continent. This is a bad idea in good times; in shaky times it's fatal.
There are several issues at the heart of this problem.
1.) Politicians. The older I get, the more I hate all of them. Greece has been mismanaged in a variety of ways for a long time. And the reaction from the euro region has been just as problematic. It was obvious from day one that a bail-out was going to happen, yet the EU dallied, which, in the long run, led to a higher cost.
2.) I think the basic question for the EU was this: after being around for 10 years, do we really want to commit to going forward, or end the arrangement here?" Fundamentally, this is the biggest challenge the EU has faced. Part of their decision process was probably, "do we really, really want to defend the euro?" The answer was an obvious yes.
3.) Implementation: this will be tricky as the EU has to coordinate efforts of many countries. I think the phrase "herding cats" is appropriate.
4.) Holding the coalition together. At some point, I would expect at least on country to say, "no more." How the EU reacts when this happens will be very interesting to watch.
I do have to give the EU credit for the plan once they decided to get going. The size was impressive. Will it be enough? We'll see.
Happy Days Are Not Here Again
There is a fundamental point that I have made in nearly all of my economic writings over the last year. Because that point is frequently missed, as it has not been the focal point of my commentary, I wanted to place it front and center in this diary.
Both Bonddad and I called for the recession before it began. And both of us said it looked like the economy was bottoming a couple of months before it did. I went beyond that and spent a great deal of effort trying to determine when the jobs situation would turn around. Last September I said the bottom would be in November or December +/- one month -- an effort that turned out to be exactly correct. While others were -- wrongly -- mired in bearishness that was contradicted by almost all of the objective data around them, Bonddad and I chronicled the turnaround that has continued to the present.
What neither of us has said is that wage, income, employment or the unemployment rate, are anywhere near "good." Neither on of us is saying that "Happy Days are Here Again." In fact, Happy Days Aren't Here Again.
One of the frequent types of criticisms that Bonddad and I received last year after we said the economy was bottoming, was on the order of "It's not a recovery until jobs start to be added," or "It's not a recovery until unemployment starts to go down."
Well, we now know that the economy has been adding jobs since the beginning of this year -- 600,000 if you use the more common "establishment survey" which asks employers if they have been hiring or firing, and 1.6 million if you go by the less commonly reported "household survey" which asks consumers if they have been working during the last month. As of now, it still looks like last October was the peak for both the U3 and U6 calculations of the unemployment rate.
Yet we still receive complaints like "But you said the Recession was over, didn't you? The Recession is nowhere near over. Not with 10% unemployment." Criticisms like these highlight a fundamental disconnect between economic terms and common discourse.
While we both called for the reversal of the direction of the economy as a whole, and jobs in particular -- in other words the downward trend towards the abyss last spring reversed and became the continually improving upward trend that has continued until now -- neither one of us has said that the absolute level of economic activity, be it of household income, or jobs, or unemployment, or wages, are "good."
Thus while in economic terms the "Great Recession" ended late last year, I would agree with an amendment to the above criticism, that "The Hard Times are nowhere near over."
The problem arises from differing terms of frames of reference. For example, here is one good description of the business cycle:
In outline, the economic cycle is divided into 4 phases: (1) slowdown or a slowing economy, (2) recession, (3) [ ] improvement of the economic recovery and (4) expansion of the economic boom.
In the most straightforward economic sense, a recession is a period of declining economic activity. A recovery is a period of rising economic activity, that has not yet regained the peak GDP level before the recession. An economic expansion begins once the economy is expanding at a level that exceeds its highest GDP from before the recession.
Thus in simple terms, we had a recession until sometime last summer. We are currently in a recovery because economic activity is expanding. We are not yet in an expansion because that positive economic activity as not yet exceeded its 2007 peak. Here's the relevant graph of real GDP that plainly makes that point:
But there is a disconnect between the language of economic cycles and the language of Main Street distress in a time like this. In most weak recessions, unemployment and wages might both pick up again shortly after the bottom of economic activity, and we might return to a level of at least nearly full employment within a year or two, as for example, in the a classic post-WW2 recession like 1960:
But after a severe recession, like the one that ended last summer, it can take literally years before economic conditions return to levels that are not full of distress. Thus, take for example this graph of GDP during the 1930s:
A business cycle economist might say that the Great Depression bottomed in 1933 and that thereafter until 1938, the economy was in recovery. But we call the entire 1930s "the Great Depression" because unemployment never dipped below 10%.
Similarly, in between 1974 and 1986 -- a period of over 10 years -- there was almost no period of time during which employment was anywhere near full (typically figured to be under 6% unemployment), even though there were recoveries and expansions after each of those recessions:
Further, since the year 2000 economic performance as a whole has been so poor that at no point has median household income of Americans ever exceeded the level attained in 1999:
One decade has already been lost, and it appears that another lost decade may be beginning, with no end to the structural problems of wage stagnation in sight. Now, like the 1930s and 1970s, the economy is growing again -- it is in recovery -- and thankfully since the beginning of this year jobs are being added, but unemployment remains intolerably high at nearly 10% in U3 terms:
Thus a year ago, when there was derision for the concept of "green shoots", and people spoke scornfully of the "second derivative", i.e., the downtrend was just slowing down, it was correct to highlight the fact that the Leading Indicators pointed to a change in the direction of the trend itself (i.e., the "the first derivative"). What has not happened, and most likely will not happen anytime soon, is that the upward trend will reach the absolute level where income, wages, or employment are sufficient for the long-term economic well-being for average Americans.
Last year when it seemed nearly everyone thought we were falling into the bottomless abyss of Great Depression 2, it was not just valuable or correct, but vital to point out that conditions were bottoming and a change in direction was upon us. That being said, "Happy Days are not here again," and nothing I have written should be taken to mean that I say they are. Hard Times are still here, and probably will be for a substantial time to come. Until there is sustained real wage growth for average Americans, it will be difficult for America to have sustained economic growth.
From Bonddad:
NDD makes a good point here. Let me add my two cents.
1.) The recession is over -- meaning growth has returned. In fact, it has returned for the last three quarters. As an aside, I've seen the economic blogsphere expend a tremendous amount of energy trying to deny this argument. At first it was "it's only one quarter of growth." Then there wasn't enough information to say there was a trend." Then the numbers were cooked because the government lies. It's been incredibly funny watching people try to move the facts around their preconceptions.
2.) Expecting a quick resolution to any economic issue after an incredibly severe recession is at best unrealistic and at worst an indication that the commenter lacks an understanding of basic economics. Case is point: 10% unemployment is not going to drop to 5% in the period of a year -- it's just not going to happen. Curing that problem will take years.
Personally, I think what has happened over the Great Recession is jobs that would have disappeared by natural attrition over a period of say 5-10 years were accelerated out of existence by the recession. For example, a manufacturer was thinking, "I'll continue to move in the area of automation at a slow rate." But then the recession hit and he said, "no time like the present to at least start getting rid of people."
3.) The primary reason people argue we're not in a recovery is a high unemployment rate. However, as I documented here the issue of long-term unemployment -- the issue which many people argue prevents this from being a recovery -- is a multi-faceted problem that revolves around two issues: educational achievement and economic area. Simply put, a large percentage of the jobs lost fall in construction and manufacturing. These are areas that typically attract employees with less than a college education. Hence, we currently have a high rate of unemployment for people without a high school degree and for people who are a high school degree but no secondary education. Neither construction or manufacturing is going to start hiring in a big way anytime soon. As such, long-term unemployment is an issue going forward.
4.) Additionally, jobs that don't need higher level educational skills are nowhere near as plentiful as before -- and will continue to decrease in this country. As a result, something has to be done in this area. Any by something, I mean something more than lip-service. As an example, NDD and I have both called for a new WPA program. The reason is simple. First, there is a high rate of unemployment among manual/blue collar laborers. This would get them back to work. Secondly, the nation's infrastructure needs serious rebuilding. Thirdly, this would be a fantastic investment that would promote future growth. For example, assume there are two cities that don't have a highway between them but alone they both grow. However, create and enhance the transportation facilities between the cities and you get a long-term (as in 30+ years) growth enhancer. It's really not that complicated.
5.) A large amount of the "this is a recovery, this isn't a recovery" is an issue of schematics and motivation. From an economic perspective, two quarters of growth indicates a recession is over -- that is a standard, text book definition. To argue it's not means either a.) you don't know basic economics, or b.) you have other motivations which are usually political. There is nothing wrong with political motivations -- just state them upfront and don't argue you're making an economic argument, because you're not. I don't mind people trying to drive the debate or narrative because that is part of the process. BUT -- I can't stand when these same people try to argue they are making a purely economic statement.
Before we look at the charts, let's review last week. As the markets became more and more concerned about Greece's problem, we saw the safety trade go on. This means stocks fell and commodities fell while the dollar and bonds rose. The stock market was already in an overvalued position, so the sell-off wasn't surprising. However, we did see tremendous price movement in the equity markets over a short period of time on very high volume. The bond markets rallied through the 200 day EMAs, but did so in the face of a strong supply situation. And commodities sold-off in the face of strong Chinese demand. In other words, the bond and commodity markets acted counter to strong fundamentals.
Let's start with the IWMs, which gapped higher at the opening (a), but then traded within two bands (b and c) for the rest of the day. Prices did gap higher at the end of trading (d) on a volume spike (e) indicating traders wanted to position themselves for a possible up move in the AM.
The Treasury market moved lower with a big gap at the open (a), but then traded between two bands (b and c) for the rest of the day.
Notice that after the open on both of these charts, prices are pretty much range bound.
Here's the chart I think is most interesting:
The dollar gapped lower at the open (a) but then rose to just above the EMAs (b). Prices then fell to the 50% Fibonacci level reversed course and the rallied to just above the EMAs. From there, prices were caught in the EMAs for the rest of the day.
What's interesting here is the dollar caught a safety bid last week, largely at the euro's expense. However, the dollar rallied throughout the day, indicating there is concern about the European aid package. This tell could be very important in the upcoming trading day.
Bonddad Readers -- Smarter Than the Average Blog Reader
A few weeks ago, I asked for your opinions about whether or not I should continue my WSJ subscription. Several people suggested the Financial Times, which is a much better paper. Many thanks.
How Long Until Alan Grayson Starts Asking Stupid Questions?
On top of the unprecedented sum, the European Central Bank reversed its position of just a few days ago and said it would buy government and corporate debt. And the world's leading central banks, including the U.S. Federal Reserve, announced a joint intervention to make more dollars available for interbank lending.
Several months ago, Alan Grayson was asking questions of Ben Bernanke, wanking wanting to know about "foreign loans." What Grayson was really asking questions about were swap programs between central banks -- fairly standard, run-of-the-mill central bank transactions. But according to Grayson, there was something sinister afoot that he had to get a handle on!
Grayson -- like most people in Washington -- believes his own press clippings. In reality, the man is an idiot. But expect a "serious line of questions" from the Representative from stupidity over this one.
April 2010 Leading Economic Indicators
The Leading Economic Indicators will probably print positive again for April
Most of the components of the Leading Economic Indicators are now known for April, and several revisions for March are also known, and it looks like it will be another decent month:
The yield curve is still positive but a little less so +0.30
Aggregate hours in manufacturing up again +0.11
ISM deliveries up +0.08
Stocks' 3 month performance up thru April +0.07
Building permits revised up for March, +0.08
Durable goods' nondefense orders March revision +.0.05
Consumer nondurables for March revised up+0.05
Jobless claims turned slightly negative, -0.05
Real M2 looks like it is still slightly negative again, -0.05
Consumer sentiment deteriorated yet again -0.03
Bottom line: it looks like April Leading Economic Indicators plus March revisions will net about +0.6, the thirteenth positive reading in a row. Because this increase is less than April 2009's, the YoY figure will decline slightly, but still up about 11%.
This means that economic growth will almost certainly extend into the third quarter.
Given the swoon in the stock market in the last two weeks and the expiration of the housing credit, however, May could be very interesting.
How Strong was April's Job Growth?
Dean Baker has a post up complaining about unnamed members of the mass media and others referring to the 290,000 nonfarm payrolls report Friday as "strong" growth. He points out that, ex census workers, the number is 224,000, which is certainly fair. But he also says that the proper way to evaluate the jobs number is by adjusting for population growth, and so doing, he says, it is not "strong."
Courtesy of the St. Louis Fred's new toy, we can divide the monthly growth/loss in jobs reported by the BLS by population, to give us jobs gain/lost per capita. Here it is from 1969 to the present (note, I omitted two outliers, one month in 1978 and also September 1982 which showed over.004 growth, the better to show contrast)::
Note that this graph includes the census jobs, since that is how the BLS reported the number. If we were to subtract those jobs, April's ratio would be reduced from about 0.0010 to 0.0008.
Either way, it seems to me, we can conclude the following:
1. April's job growth was much stronger than that coming out of either the 1991 or 2001 recessions.
2. April's job growth was strong compared with the last decade -- only some months in 2004 and 2005 were stronger.
3. April's job growth was NOT strong compared with job growth coming out of either of the two severe recessions of 1974 or 1982. In fact it was perhaps only half as strong as during those recoveries.
I should point out that, had I extended this graph all the way back to 1946, job growth during those recoveries up through the 1960s was even stronger per capita, often approaching 0.0030. This seems consistent with the idea that over the very long term, the US economy has gotten weaker as the US has made up less and less of the world's GDP since 1945.
Last week I wrote this regarding "think tanks:"
The phrase "think tank" is now an oxymoron, much like jumbo shrimp. Anyone who works at a "think tank" has an agenda, around which he/she attempts to bend the facts. This occurs on both sides of the political aisle in equal proportion. People who work at "think tanks" are either whores (they sell their intellectual abilities to the highest bidder), hacks (they are paid to say certain things at all times in order to promote a particular ideology) or politicians (meaning they have an agenda to obtain a political result). Some people fall into all three, meaning they earn the coveted "hat trick of intellectual whoredom." Either way, remember that when a "think tank" spokesman is moving their lips they are lying and if you offered them a higher salary they would tell you the sky is purple, the Astros are contenders and Bob Dylan can carry a tune with perfection.
I've seen enough of this type of garbage from both sides of the political aisle to say I don't read anything from a "think tank" anymore.
Last week was a text-book case of standard flight to quality trading. Simply put, equities and commodities dropped while bonds, the dollar and gold rose. Let's go to the charts.
Let's start with a 5-day, 5-minute chart of the IWMs. This is the worst performing index of the DIAs, SPYs and QQQQs over the last week and 10 days, indicating traders are moving away from risk.
Prices gapped down lower on Tuesday, but spent the majority of the day in a tighter range (b). On Wednesday, prices formed a slight arc, opening lower, moving to a high in mid-trade, but then moving lower at the close. Thursday was the infamous "fat-finger" day, a day in reality the SEC and various exchanges are still trying to figure out. But the price decline continued into Friday.
Notice the continued escalation of selling volume toward the end of the week.
A standard bear market correction is considered to be 10% (give or take). Both the QQQQs and IWMs are already there. The QQQQ have fallen from a high of ~50.60 to a close on Friday of 45.63 -- a fall of 9.88%. The IWMs have fallen from a high of ~74.50 to a close of Friday of 65.44, or a fall of 12.16%.
Also note all indexes experienced a massive volume spike at the end of last week. Some might call thie a "selling climax," where a ton of sell orders hit the market as everybody simply says, "get me the hell out of here." Frankly, I don't think this is the end of the selling as Europe is still working out its issues.
Let's turn now to the Treasury market which caught a bid last week -- especially the long-term end of the curve.
The uptrend that started at the beginning of April (a) is still intact. However, last week we saw two gaps higher (b) -- indicating there was a tremendous bid in the market. Also note that prices are now above the 200 day EMA, indicating the TLTs are now in a bull market. The short-term EMAs are bullish -- all are moving higher and the shorter are above the longer. additionally, the 10 day EMA is about the 200 day EMA. Finally, like the equity markets, the bond market saw a massive spike in volume last week (d), indicating there was a tremendous flight to quality.
However, while there is tremendous momentum right now (a), the A/D line is dropping.
Note we see the same drop with the on balance volume indicator.
Let's turn to gold, which, like the Treasury market and the dollar, has caught the safety bid.
The EMA picture is very bullish: the shorter EMAs are above the longer EMAs, all the EMAs are moving higher and prices are above all the EMAs.
Prices broke out of a triangle consolidation pattern (a), returned to the top line of the pattern as a test (b) and then broke through previous highs to move higher. Also note the higher volume over the last few days as money has moved into the market.
Finally, we have increasing momentum (a) and a big influx of money into the market (b).
Let's move to the dollar.
First, the dollar is in a clear uptrend (a). The EMAs are bullish -- shorter above longer, all moving higher and prices above all the EMAs. Prices have moved through upside resistance (c) and have printed some large gaps over the last week on high volume. BUT
The A/D line is decreasing and the Chaiken money flow indicates that money is moving out of the security. What does this mean?
Technical divergences -- situations when prices and indicators are moving in different directions -- can indicate a possible change in trend. Here, we have two declining volume indicators, which tells us the breadth of the dollar rally might not be as wide as we would like. Also note the last gap could be an exhaustion gap -- the final big upside move before a trend changes. If so, we'll know soon enough.
Bonddad Readers -- Smarter Than the Average Blog R...
How Long Until Alan Grayson Starts Asking Stupid Q...


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Expansion Plan
Contract-service providers are expanding their offerings in this slow-growth environment.
The variables that companies can manipulate to drive revenue growth are pretty straightforward: customers, projects, services, and prices. During the middle part of this decade, those variables were relatively easy to influence, but things are not so easy anymore.
In the current cost-conscious environment, there are fewer customers and fewer projects, and the surfeit of capacity relative to demand has precipitated major price cutting. Contract service providers are engaged in fierce battles for market share to hold on to what they have and stay in the game until market conditions improve.
With opportunities limited in their traditional service segments, more service providers are trying to expand their service offerings. Some of this service expansion is tactical—that is, it's aimed at gaining a slightly higher percentage of the clients' development spend or at defending current revenue against more integrated service providers. Tactical expansions bolt on new service offerings contiguous to the contractor's existing offerings. They require a small expenditure for capital investment and staffing, and little additional sales effort because they are targeted at current customers. As a result, they entail limited business risk and limited upside. A common case in point these days is the addition of early-stage formulation services by contract manufacturers that offer process development and small-scale manufacturing service for active pharmaceutical ingredients (APIs).
Strategic expansion
Strategic service expansions are far more ambitious. They involve a major investment in a new service area, typically through one or more acquisitions, where the objective is to quickly achieve critical mass in the service sector and have a major impact on the service provider's top and bottom line. Strategic expansions are often undertaken by companies that foresee slower growth in their current core service offerings, perhaps because they already have a substantial share of the market, and see greater returns by investing in new service sectors. Strategic acquirers also have the financial wherewithal to make investments that will have a significant and immediate impact on the company's prospects.
Drug discovery has been an important target area for strategic expansions lately. The two market leaders in preclinical toxicology, Covance (Princeton, NJ) and Charles River Laboratories (Wilmington, MA), have placed major bets that drug discovery is the next great opportunity for contract services.
Covance launched its expansion into drug discovery by buying major research operations from large pharmaceutical companies. In August, it acquired Merck's (Whitehouse Station, NJ) Gene Expression Laboratory, based in Seattle, Washington, which specializes in genomics services such as genotyping, gene sequencing, and gene expression profiling. As part of the deal, Covance received a contract to provide genomic analysis services during the next five years for $145 million. One year ago, Covance acquired the Greenfield, Indiana, research facility of Eli Lilly (Indianapolis). In that deal, Covance obtained a team of scientists experienced in late-phase discovery research as well as advanced imaging technology that has become a major part of the discovery toolkit.
Charles River Laboratories (CRL)—Covance's principal rival in the preclinical toxicology business—is also expanding its Discovery and Imaging Services business unit. In August, CRL acquired Cerebricon (Kuopio, Finland), a company that provides discovery services for therapies aimed at treating central-nervous-system diseases, for an estimated $9 million. Last year, CRL acquired MIR Preclinical Services (Ann Arbor, MI), a provider of discovery services supported by in vivo imaging capabilities, and in April 2009, CRL picked up PPD's (Wilmington, NC) Piedmont Research Center, a provider of preclinical discovery services focused on oncology.
Manufacturing next?
The discovery-services sector is somewhat unique because it is less penetrated by outsourcing than most development services (with the exception of medicinal chemistry). We expect to see strategic service expansions into sectors where the fragmented market still presents opportunities to gain market share. One such sector is dose manufacturing. In their July conference call announcing first- half financial results, executives of API manufacturer Lonza (Basel, Switzerland) announced that the company has $1 billion available for acquisitions, and has targeted acquisitions in dose manufacturing as its next step in the commercial value chain. We also may see some deals in the analytical chemistry sector, although few target companies there are large enough to make an impact on the performance of a strategic acquirer.
Jim Miller is president of PharmSource Information Services, Inc., and publisher of Bio/Pharmaceutical Outsourcing Report, tel. 703.383.4903, fax 703.383.4905, info@pharmsource.com, www.pharmsource.com.
OutsourcingOutsourcing OutlookPharmaceutical Technology-09-02-2009
Agilent Invests $725 Million in Nucleic Acid-based Therapeutics
Drug Solutions Podcast: Pharma Trends Dissected by 3 PR Agency Luminaries
The Growth and Emergence of Technology in the Outsourcing Space

redpajama_set_name: RedPajamaCommonCrawl


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GreekReporter.comCanadaGreek Angelo Chalikias Honored for Saving Niso Moustaki
Greek Angelo Chalikias Honored for Saving Niso Moustaki
By Evgenia Adamantopoulou
On January 27, 2014 the Greek patriot Angelo Chalikias was awarded in a special ceremony in Montreal's town hall, with the "Righteous Among the Nations" medal for saving the Jewish-Greek Niso Moustaki during the German occupation of Greece. The ceremony was an initiative of the Jewish institution "Yad Vashem" and the state of Israel.
The commemorative plaque awarded to the late Angelo Chalikias was accepted by his widow Filomena and his two children, Jimmy and Olga. A video with greetings from the Moustaki family in Israel was deeply moving for the audience.
At the ceremony, Montreal's Mayor Denis Coderre referred to the courage of Angelo Chalikias. Israel's consul in Montreal Joel Lion also spoke about the Holocaust and its significance, while Greece's Ambassador to Canada, Eleftherios Angelopoulos referred to the bravery and human solidarity of Angelo Chalikias.
Niso Moustaki was a Jewish-Greek who lived with his family on Corfu. During the German occupation of the island, he escaped from a German detention facility and after many dangerous encounters, and crucially with the help of Angelo Chalikias, he managed to survive and escape to Israel. In 1957, Moustaki began corresponding with the Jewish Community in Ottawa. In one of his letters he wrote that if it had not been for Angelo Chalikias, he would almost certainly have been captured.
These letters were discovered by Chalikias' family after his death in 2012, and were sent to Yad Vashem, the World Center for Holocaust Research, Education, Documentation and Commemoration. Despite Moustaki's death, the Yad Vashem's "Righteous Among the Nations" medal was awarded posthumously to Angelo Chalikias and was accepted by his family.
A total of 315 Greeks have received the honorary recognition of "Righteous Among the Nations."
Angelo Chalikias
Greek Ambassador Eleftherios Angelopoulos
Niso Moustaki
Change of Earth's Inner Core Rotation Has Come to Near-Halt
Shrimp And Gyros Skewers: Where The Mountains Meet The Sea


Free shuttle service goes every fifteen minutes around-the-clock between airline terminals and to rental car lots. When you exit the customs area, continue straight ahead and outside the airport entrance. From there, you walk through a covered footpath and at the end of the path you will find the shuttle service. Check out the route to us in the video below.
Our social security number is 530979-0249. Our VAT is 09494.
We have been in the car rental business since 1979 and know the roads of Iceland exceptionally well. Through our long experience, we have learned that a primary concern of visitors to Iceland is to rent safe and reliable vehicles.
We are travelers ourselves and we love to traveling in Iceland; we respect the Icelandic nature and would love to share our passion with you. Do not hesitate to ask for advice such as what to see and do in Iceland. We will help you to choose the right vehicle so you can experience our country in the best possible way.
To provide our customers complete satisfaction, we go the extra mile in offering outstanding service. We are conveniently located at Keflavik International Airport and in Reykjavik and competitively priced. Also, we have service contacts all around the country.
It's a simple fact - customer's who get great service and great cars tend to be happier.
We have a vehicle suited to every budget and all your driving needs—from small cars to luxury cars, minibuses and many types of 4x4 jeeps. Just let us know what your plan is and we will gladly help to make your trip in Iceland as pleasant as possible.


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Categories / Books, Women's Fashion
Thames & Hudson to release Vintage Fashion Complete by Nicky Albrechtsen
Not just another book about vintage fashion, Thames & Hudson claims that Vintage Fashion Complete by Nicky Albrechtsen will be the most ambitious and comprehensive guide to vintage fashion ever produced.
It covers 432 pages and comes packed with over 1,300 illustrations from the 1930s to the 1980s, sitting alongside over 300 contextual illustrations including many of key icons of vintage, from the Ossie Clark dress made famous by David Hockney's painting to Twiggy in the ultimate '60s mini.
To make sense of it all, the book is organised into three main sections – Decades explores the shapes and fabrics that define the look of each period, 'Elements' explores the individual components of a vintage look and 'Hallmarks' brings together the themes, from florals to animal print, and nautical chic to the Little Black Dress. In addition, each garment featured is explored 'from the viewpoint of the contemporary fashionista' looking to build ip a vintage wardrobe.
But above all, it's a reference guide, with labels from the different eras examined, from the big names to the sought-after niche makers right down to lesser-seen handmade / anonymous items.
What it doesn't cover is the (as ever) overlooked mens market. Maybe there's another book in that.
The publication date for Vintage Fashion Complete is 13th October 2014, although you can pre-order right now at Amazon for the discounted price of £43.42.
Find out more at the Amazon website
Tags / book, classic, design, fashion, Nicky Albrechtsen, retro, style, thames & hudson, vintage, Vintage Fashion Complete
Adidas Brands A-Z book
Penguin Bookchase board game at Art Meets Matter
Essential Reading: Modern Design In Wood by Richard Stewart
Pop-Up Op-Art: Vasarely book by Philippe UG


Mexican equities have been on a roll this year, with the iShares MSCI Mexico Capped ETF (EWW) up more than 28% since the start of the year as investors have shrugged off the once crippling fear of the Trump trade.
Credit Suisse's Andrew T. Campbell and Otávio Tanganelli now say it is time to move to the sidelines.
The pair have downgraded the Mexican equities market from an Overweight to a Market Perform and also lowered their ratings on Chilean equities to an Underweight.
Why? Valuations. Looking at price-to-forward earnings multiples, both markets trade at a premium to the broader LatAm region. But Campbell and Tanganelli also say it's time to make room for more exposure to Argentina, which they upgraded to an Overweight. That makes Argentina one of two markets rated such, along with Colombia.
By reducing Mexico and Chile, we are able to accommodate exposure to Argentina, where we recently started coverage with a constructive outlook, because: (i) the economy is exiting recession, (ii) inflation is on a decelerating path with monetary loosening on the horizon, (iii) we are positive on Banks, a key index component, and (iv) the lack of upgrade to EM this year should not derail rebounding fundamentals.
We also keep a positive view on the Colombian market, as we see a clear valuation case with the market trading at 12.7x forward P/E and 1.2x P/B. COP does not screen as expensive. Inflation has been trending lower, permitting a monetary loosening cycle, which should support better private consumption growth in coming quarters. The government's 4G infrastructure program should also be accretive to growth, especially in 2018.
All three markets have been on a run in 2017. The iShares MSCI Mexico Capped ETF hit a 52-week high last week, as did the iShares MSCI Chile Capped ETF (ECH). Meanwhile, the Global X MSCI Argentina exchange-traded fund (ARGT) has gained almost 29% since the start of the year.
Still, Campbell and Tanganelli highlighted the seven highest-rated Argentine and Colombian stocks from Argentina and Colombia with market capitalizations above $500 million and daily trading liquidity above $5 million.


:). . Wallpaper and background images in the pariapink club tagged: paria paghia cute tvd pinky fire.
This pariapink photo might contain celana ketat, baju ketat, gaun koktail, selubung, cocktail gaun, and bustier.


Reducer Bushing Spig x FNPT - Fish Farm Supply Co.
Reducing Bushing - Spigot x FNPT. Available in various sizes from ½" up to 4". Our PVC fittings are all quality Schedule 40. We offer a great selection of hard to find PVC fittings but if you do not see what you need do not hesitate to contact us.


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La Voie héraclénne est le nom donné à une route mythique qui mène du détroit de Gibraltar en Espagne jusqu'au col de Montgenèvre dans les Alpes, en traversant les Pyrénées, longeant le littoral de la Méditerranée et passant par Narbo (Narbonne) et Nemausus (Nîmes). Cet itinéraire fut remplacé à l'époque romaine par la Voie Domitienne et la Via Augusta.

Dans l'Antiquité, elle a porté les noms de Via Heraclea, Via Heraklea ou Via Herculea.

Histoire
Cette voie tient son nom du héros de la mythologie grecque Héracles (équivalent de l'Hercule romain) qui, selon la légende, aurait ramené par ce chemin un troupeau de bœufs pris au géant à trois têtes Géryon. Cet exploit constitue le dixième des douze travaux d'Héraclès.

Dans les Anecdotes merveilleuses, un texte attribué à Aristote, on peut lire ceci : « On dit que d'Italie jusqu'en Celtique, chez les Celtes de Ligurie et les Ibères, il y a une route nommée Héraclée ; lorsqu'un Grec ou un habitant du pays passe par cette route, il est protégé par les gens qui habitent auprès, de manière à ne subir aucun tort ; car ceux qui causent du tort doivent acquitter une amende. »

La légende de la création de cette voie par le demi-dieu se réfère sans doute à une route (ou un ensemble de routes) qui existait déjà à l'époque protohistorique. Ni le tracé exact de cet axe et ni l'époque à laquelle il fut créé ne sont connus. Les Ibères, les Celtes ou les Ligures en sont peut-être les artisans, mais il se peut aussi qu'il soit encore plus ancien. Certains attribuent sa fondation aux Phéniciens.
Ce trajet permettait notamment de relier les villes grecques fondées au  comme Massalia (Marseille) et Agatha (Agde).

Lors de la deuxième guerre punique, en 218 av. J.-C., le général carthaginois Hannibal a emprunté cet itinéraire, au moins en partie, avec ses troupes et ses éléphants, pour se rendre en Italie depuis Carthagène (Espagne).

La Voie Domitienne, construite par les Romains à partir de 118 av. J.-C. pour relier l'Italie à la péninsule Ibérique en traversant la Gaule narbonnaise, reprend plus ou moins le parcours de la Voie héracléenne. Son prolongement au-delà des Pyrénées, la Via Augusta, suit elle aussi une partie de son tracé.

Références

Voie historique
Route stratégique
Itinéraire de randonnée en Espagne
Itinéraire de randonnée en France

redpajama_set_name: RedPajamaWikipedia


The Living Heritage Trust seeks to use 21st Century technology to bring out the value of traditional village lifestyles for inhabitants, economically, socially in terms of ethnic and religious tolerance, and culturally in terms of enduring traditions and capturing long-established traditional knowledge indigenous to the area.
The LHT mission is to harness the depth and richness of Sri Lanka's cultural and natural heritage to its fullest possible extent for the enrichment of all her people, including especially the rural multitudes that still practice and cherish their living cultural heritage as part and parcel of their daily lifestyle and world view.
Przeczytaj ten artykuł w języku polskim.


Our website allows you to examine detoxes in individual cities and states this service assures chosen detoxes are suitable for each family and individual suffering with addiction. We provide expertise and understanding of addiction therapy. Detoxing from drugs and alcohol doesn't have to be difficult we can help provide you guidance, we give addicts and their families the ability to pick the best medical detox in Lompoc, California. Our selections include a long list of high-quality addiction treatment centers - addiction treatment centers provide those with substance use disorders a shot at a new life. Detoxing from substances after consuming them addictively in Lompoc, California can be trying - pursuing long-term recovery could appear to be challenging for someone with a substance use disorder. Utilize the inventory provided by detoxes.net to determine what detox is the best bet for you or a loved one in Lompoc, California.
It's incredibly key, when seeking an addiction treatment facility in Lompoc, California, to make sure that the issues of you or the addict in your life are met. Even for individuals who are having difficulty discovering the best addiction treatment center in Lompoc, California, there is hope, Don't wait any longer- find the right detox facility via detoxes.net. Detoxes.net was created to give those struggling with addiction a tool to help find facilities - the process will be decided upon by logistical concerns as well as social ones. We are here to help you get started quickly. Regardless of geographical locations or other limitations, many a medical detox and treatment facility options are available to you - There are many rehabs that provide addicts with tools for recovery. There are alcohol and drug detoxes in Lompoc, California that will not properly care for you or the addict in your life, but reviewing our directory will give you the best shot. The act of exploring treatment options is critical for success freedom.
Detoxification comes first in addiction treatment, it is a vital piece to the recovery process. Subsequent to detoxing in a traditional setting in Lompoc, California, clients will be offered options of new facilities- Clients will then be offered choices of halfways and other more autonomous settings to help build good, sober lives. When detoxing the individual is usually given a lower dosage or tapered off using medically assisted drugs such as Suboxone for Opiate withdrawal or Ativan for Alcohol withdrawal,During the painful process of detox and withdrawal, many addicts receive drugs to taper them off, taper drugs are put to use to help soothe pain and get the patient on the right goal. Medical detox is presided over by licensed addiction treatment professionals. The partial hospitalization period (or PHP) of treatment is crucial for individuals to learn new coping skills and adapt a recovery program of abstinence, addiction treatment detoxes can give individuals who have struggled with substance abuse hope and a better life. Most residential detoxes in Lompoc, California have a duration of 3 to 7 days, this hinges upon the details of the addiction, and amount of drug consumed.


Example: The British Dragon Boat Racing Association (BDA) is the UK governing body for dragon boat racing as a sport and recreation, recognised by the UK Sports Council.. The BDA controls the sport through its Executive Committee and Council.
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Example: In its most popular and recent contemporary usage, "Champ Car" was the name given to a governing body formerly known as Championship Auto Racing Teams (CART).
Example: How is Automobile Race Car Association abbreviated? ARCA stands for Automobile Race Car Association. ARCA is defined as Automobile Race Car Association rarely.
Example: The Automobile Racing Club of America (ARCA) is an auto racing sanctioning body in the United States, founded in 1953 by John Marcum.The current president of ARCA is Ron Drager, who took over the position 1996 following the death of Bob Loga.
Example: Take a look back at the history of the International Race of Champions (IROC) with never before seen photos including the final year of Camaro racing at IROC.
Example: After an interim of seven years, during which World War II wreaked havoc across the European continent, the first post-war Mille Miglia auto race is held on this day in 1947 in Brescia, Italy.


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El condado de la Torre de Cossío es un título nobiliario español creado por Real Despacho el 21 de diciembre de 1773 por el rey Carlos III, a favor de Juan Manuel González de Cossío y de la Herrán, coronel de los Reales Ejércitos, caballero de la Orden de Calatrava, cónsul de la Ciudad de México, coronel del Regimiento Provincial de Toluca (México), señor de la Torre de Cossío en el municipio de Rionansa, (Cantabria), (España)

Condes de la Torre de Cossío

Historia de los condes de Cossío

Juan Manuel González de Cossío y de la Herrán, I conde de la Torre de Cossío. En 6 de diciembre de 1920 por rehabilitación sucedió:

Rehabilitado en 1920 por:

Francisco Javier Castillo y Salazar, IV conde de la Torre de Cossío y IV conde de Bilbao.
 Casó con María de la Purificación Allende y Bofill. Le sucedió su hijo:

Ignacio María Castillo y Allende (m. Madrid, 30 de marzo de 2020), V conde de la Torre de Cossío y V conde de Bilbao.
 Casó con Ana María Lojendio y del Alcázar. Sucedió su hija:

 María Castillo y Lojendio, VI condesa de la Torre de Cossío.

Referencias

Torre de Cossío, de la


Fishing for centuries been considered one of the most favorite things Russian. It is not only an opportunity to get a delicious dinner, but this ritual that is stored for centuries. Today while fishing often use sonar Garmin, Related to the family of devices that the manufacturer intended for fishing on the water. Using sonar to scan the relief can be a river or sea bottom, floating identify any object in the water (whether the fish, aquatic animals, etc.), since the density of any object is very different from the density of the water. Today Garminproizvodyatsya sonar in a wide variety and range of presented each fisherman can choose one that fits his needs, desires and financial capabilities. You can buy the most simple echo sounders, which are compact, easy to use and inexpensive compared to other, more complex models.
These devices are perfect for recreational fishing, they are able to generate, receive and process the signal. Differ by only a few such sonar features that satisfy specific requirements comply with the conditions of fishermen and fishing. For those who need more than the standard set of features for sonar razrabota rybalkibolee complex design with lots of additional features. Most of simple sonar producer of which belong to the middle category, has a simple and easy to operate, suitable for placement on the smallest fishing boats, including rowing and rezinomotornyh boats. In addition, such sonar Garmin fit even for the "bezlodochnoy" fishing.
Navigator takes up very little space, demands the least attention and skill. If the successful operation of the serious navigators needed certain skills, the sonar Garmin is very easy to use and enjoy, even those who had not had anything to do with these devices. Most echo sounders equipped with a two-beam sonar transducers signal making sounder works great in shallow water. Angle of ray propagation of sonar signal is so broad that allows the fisherman to find fish even at the side of his ship. In the sonar used by Garmin the best screens that make the image clear and visible in all lighting conditions and under any conditions. In the simplest sonar has one of the most contrasting monochrome screens that offer this equipment price category. This important advantage is especially important for fishing, which takes place in bright sunshine and partly cloudy. Often, the sonar is used, optimization images on the screen, which provides a subtle eye fast redraw the screen after each scan sonar. Sonar screen will always display the information with a delay only in a split second, which almost corresponds to real time. Today sonar for fishing is an indispensable instrument for both professionals and amateurs of fishing, as the device to determine places where fish to water, to measure the depth and structure to determine the topography of the bottom, examine the general condition of the water. And the most modern and sophisticated sonar model is used as a means of navigation on the seas and large bodies of water for boats, yachts and boats, which indicates the high accuracy and reliability of the instrument.
And whether it was an insult? Maybe you simply wanted to buck up, find out the relationship, and thus raise all minor conflicts throughout the week, but what would happen if two favorite people will remember all the hassle, because they are near me, then, resentment can be listed over the years. My opinion remains the same, people need to talk about their problems with each other, integrity is what will help you relations, speak directly about the disadvantages of not allowing them to proliferate, with support and help to fix them. It brought together by you, will trust in your relationship and help to open up and not from complexes to each other. Here's my advice. Find a common problem (for example: he devotes much time on friends, and you're not invited to the "smoker"). Seems like to be? After all, he forgets about you, maybe he wants so forget about your existence? A Here and there, I say! Here's a way out of the problem: You have to understand why this happens, take a moment to talk about it with loved ones, try to understand it and think why these people he is friends that connects them. Write whatever you not satisfied in relation to you. And sort through the guy.
Collecting certain items (notes, coins, awards, etc.) need to hold certain information. It should reflect the characteristics of the object in front of us: what is it, when and by whom was made, on what occasion, his edition, rarity, and as a consequence of the price. In our country and the world many people vividly interested in the history of the Balkan Peninsula, and those objects which are its physical media, helping us to preserve the memory of that era. It is this region is traditionally close to us, the Russians, in spirit and faith. We are bound by a common past and Slavic roots, therefore, not surprising that interest in him increases. However, our monitoring and detailed study of existing information resources in RuNet on Bonistics, numismatics, faleristics and other collectibles, has shown that provided there is information about the Balkan countries were far from complete and not systematized.
We decided on its own to accomplish this task and make the most comprehensive to date catalog of banknotes Balkan countries with their detailed description of the history of treatment or images in 1:1 scale. In addition to the notes, we will try to gather as much information about other subjects related to the activities of these states, have ever been issued and in circulation. First of all, it's – awards, coins and stamps. Our goal – to create a unified information platform for collectors and make sure that they have found here a lot new and valuable information. We want to unite like-minded people, giving them the opportunity to interact, exchange views and their rarity, as well as replenish their collections in our store. If this is so, we will consider their mission accomplished.


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Karton er papir i flere lag med en gramvægt på over 170 g/m². Dette giver karton egenskaber ved bukning, falsning osv., som almindeligt papir ikke har.

Jo højere gramvægt, des stivere er kartonet. Meget stift karton benyttes ofte indendørs til skilte.

Karton har genbrugskoden "PAP".

Se også
Pap

Papir
Kartoner


Finally blogging about the West Coast Trail (henceforth called WCT or WeeeeCT as I said one day) that I hiked back in mid September with two friends. Like I mention in my previous blogpost I had been working out to shed weight and gain stamina/strenght. I managed to hit the 85 kilogram mark around the time of my flight on 14th of September to the States. René, a good friend, picked me up in the very early morning and dropped me of at Schiphol airport. Thanks buddy!
Just before my first flight I read about a guy that ran the WCT in 16 hours divided over two days (check his video about it). That's 75 kilometres. I respected that guy straight away but that respect would increase within the week. My flight via Newark,NJ to Seattle,WA went fine. Compared to my flight to Sydney this was short one so that didn't really phase me. However United, the airline, is not in the same league as Garadu Indonesia or Malaysia Airlines. Legroom and food being way better on those airlines and I saw most of the movies that were available via in-flight entertainment but then I tend to see a lot of movies so I'll let that one slide. After landing at Newark I had to waiting 2 hours for my second flight and final destination for the day, Seattle, WA.
Navigating from the airport to my hostel wasn't entirely straight forward but that was more my doing. Getting onto the lightrail and heading into the city was the easy part. Here I even met an American couple that were visiting Seattle for the weekend and we talked a bit. Which was my first introduction with Americans on their home turf so to speak and they didn't seem to be like the stereotypical Americans we all know and uhmmm well know. Just before my stop at Westlake station we said our goodbyes as I headed on. Finding the hostel though was rough and I even walked past it but eventually I ended up in my room for the night. It had some wicked wall/ceiling decorations.
The hostel was quite good, except for the noise from the street so lesson learn I guess and next time I'll get a room at the back of the building. As I would be waking around 6:00 in the morning to catch the ferry towards Vancouver Island I got a shower and headed out for a quick bite to eat before hitting the hay.
It's always great to travel by public transport in a foreign country as you see quite a lot and my preferred method is by train but driving in a car is another great way to see lots. It's amazing how massive Canada is and how beautiful nature can be in a vast country like this. I like The Netherlands but nothing beats the open vastness that is a big country with lots of nature. You don't really have that back home. During the drive you see lots of logging roads and tiny villages. In Port Renfrew we reach our cabin where we would be stay the night. The check-in was the most awkward ever as the people at the counter were the most unfriendly people I ever met and it took ages to check us in. The cabin had a ugly yellow finish on the inside but we started to unpack and divide our supplies nonetheless. Which actually went quite quickly so we head down to the Coast Kitchen,a local restaurant, for fish & chips. It's a family run business that makes everything from scratch and even gets the fish out of their backyard (Atlantic ocean). Especially the tartar sauce was good. After two pitchers of beer Adam and I were a bit tipsy so we all headed for our beds in the cabin, our last indoor night for the next 6 days.
Next day was another early rise, this was a necessity because we needed to catch the watertaxi bounded for Bamfield (the north trailhead of the WCT). We met some other hikers that would be travelling with us on the boat and we saw them many a time along the hike too. The watertaxi was one of the highlights of this entire trip. Besides the very friendly and humours captain Brian that even had a notch based system on the amount of camera that died on the watertaxi over the years, the scenery, the animals and his stories about the different parts of the hike made it worth every penny. Although most of the coast was shrouded in morning mist we got to see where we would be hiking in the days to come, obviously in the opposite direction. We met lots of sealions that have made there home on the rocks along the way but then we see or rather hear the spray of a grey whale. And even though we don't see any whaletail (no phun intended) we get to see this beautiful creature close up swimming along side the watertaxi. So close in fact that counting the barnacles on him or her is easy.
Day 1 (Saturday): Pachena Trailhad to Camp Michigan Distance: 12 KM / Time: 6 hours approx.
Bamfield is a nice little village that seems to have done quite well. Mostly fishermen and other sea related workers here but its cabins along the coastline look very nice. After getting a snack we take a taxi to the trailhead at Pachena Bay. Here we have to wait for the mandatory orientation, thus we sit on our asses for 3,5 hours. A total waste of daylight but we take the time to explore the nearby bay. Adam shows me beachglass he finds here. I've never heard about this phenomenon before but apparently old blue medicine bottles, green/brown alcohol bottles and even transparent bottles get sanded down by the ocean into small pebbles that look pretty neat. Adam ends up with two handfuls of the stuff. I head back to repack my backpack and put on my runningshorts as the weather is around 30 degrees Celsius and sunny that seems like a good idea. Before we headed for the beach we got our hiking permits and map. It's a big let down that the hiking permit doesn't include the mandatory ferry rides that we take along the hike. The orientation seems to be a repeat of what I already read in Blisters and Bliss (a must have guide to WCT hiking) and other website on dealing with wildlife but also includes areas where wildlife like cougars (no...not those), bears and wolves are active at the moment, the only helpful part about the orientation.
The first day on the WCT is tough going through the rainforest (not like the Amazon but a pine rainforest), due to high tide we couldn't use the beach access, so it was roots, mud and ladders. Although lots of people dislike the ladders as a method of ascending or descending we really like them and prefer them then going up & down on roots/mud and the sort through the rainforest. The upkeep on the ladders is also way better then the boardwalk which is graded from very bad to non-existing in most places along the hike through the forested areas. After about 10 K in we have our first real break at the Pachena Lighthouse. Along the WCT there are several lighthouses that are maintained by families whom live there year round. Supplies get shipped in and attached to a cable (zipline) near the lighthouse and then pulled in by a diesel motor. We crave some food and eat some of our dried fruit and meat while drinking water mixed with kool-aid. Along the hike we used aquamarine tables to treat the water for any bacteria; this however gives the water a distinct chlorine taste so the kool-aid was an idea to mask that but I prefer the chlorine taste to the kool-aid ;) Next hike I might use a waterfilter instead, even though they are way heavier then just tablets but the taste will be a lot better. A little trick I did find out myself is that if you need some extra energy it's worth adding ORS (Oral Rehydration Salts) to your water. Normally used to treat dehydration associated with diarrhea and the like but it's a great way to get some salts and sugars in you will drinking. So bringing this stuff is multi-purpose which is what I always look for in hiking gear.
Setting out again we reach our first camp for the night after only 2 kilometres walking, Michigan is a nice campsite with a steady supply of fresh water. It's namesake sunk in 1893 and left the boiler behind on the rocks. We soon start putting up our tents and I try and fail to make a campfire. It's quite a difficult thing to do even with all the stuff I brought with me. I move from the basic firestarter to my lighter but after 20 minutes I ask Adam to help out. Certainly something I need to practice. Our fire for the night is quite small due to the wetness and tiny amount of fire wood in the vicinity. But thankfully we use this only to stay warm, to cook we have a gasburner. Our first evening meal consists of instant macaroni & cheese. Basicly you add boiling water to a pack and wait. Not very good but it's food nonetheless. The night is upon us before we know but the small campfire makes for a good companion besides Chrissy & Adam of course. Time for bed and sleeping isn't a problem with the Atlantic Ocean gently crashing it's waves nearby.
Day 2 (Saturday): Camp Michigan to Tsusiat Falls Distance: 13 KM / Time: 6 hours approx.
Half past 7 we start our day early to use all the daylight we have. The rhythm on a hike is mostly set by the sunlight, something you loose sight of during normal life but is actually quite easy to get use to. And that's saying something coming from me. We have 13 K to go today so we eat our instant oatmeal which is very good to be honest and refill our water canisters. I'm really loving my camelbak which hold about 2 to 3 litres worth. You do notice the weight in your backpack and it's not easy to judge the amount left but the water temperature remains cool throughout the day.
It's mostly a beach walk today and due to the amazing weather this is very hard on us. Later we learn that we hiked in the driest period ever recorded on the WCT. Besides the blazing sun we have to deal with the beaches that isn't nicely compacted sand but also small pebbles that your feet just sink into and that draining your energy. Even though we do have a short forest walk this isn't much easier then the beach. Adam is in charge of moral support and keeps the bears away with profanities. It seems to work, as we don't encounter any during the entire hike, well kinda anyway. Animal tracks however are abundant on the beach; you can easly see tracks left behind my various animals, sometimes even with claws so possibly cougars. Other tracks come in form of poo. You see a lot of poo in the forest that is saturated by blueberries. We eventually reach the anchor of the Woodside ship that ran a shore in 1888. We take the time to resupply our water and have a snack but I also end up changing my socks. As my hiking shoes seem to be a bit of a let down waterproof wise. I end up leaving them in Victoria. However my new gaiters work very well. Especially on the beach they are great for keeping out the sand.
Our cablecar ride over the Klanawa River is quite nice even though you need to pull yourself in when you reach the halfway mark it's fun ride (see video one & two). The remainder of the day we push on through the forest and see some amazing scenery along the way through a clearing near the cliffs that surround the beaches. Upon reaching the cliffs near the camp we climb down the longest set of ladders we have yet encountered. We set up our tents while enjoying the view and the sight & sound of the grey whales looking for food in the nearby shallows of the sea. Very cool to hear them spray when they surface to exhale and breath in again to submerge. The nearby waterfalls make for a great shower although a cold one. It's wise to get the drinkwater from the waterfall itself here due to washing up and the sort. This time we find lots of driftwood that is very dry and makes for excellent firewood. Our campfire this night is very nice and we eat lasagne with parmesan cheese which makes it ten times better.
Eventually we start packing our food away and I volunteer to bring it to the bearbins. Although I brought rope and a waterproof bag to hang it in the trees, the bearbins are a lot easier. Basicly they are made of solid steel with a carabiner to lock it. Normally they are very accessible near the other camp facilities like the self composting toilets. However this trip takes me through the beach, across a stream of water, which I didn't see so end up with wet shoes and socks, over fallen trees that have been washed a shore and eventually make me climb to the bearbins. Quite an ordeal but at least our food is safe from bears. But there our other critters out tonight that are looking for easy way to get food. We hear some girls screaming and end up seeing the tiny cause. Mice seem to like hikers or rather the stead food supply they bring. Adam & Chrissy go to bed early as we agreed to head out at first light. I stay near the fire to dry my shoes & socks while writing in my journal.
Day 3 (Saturday): Tsusiat Falls to Cribs Creek Distance: 16 KM / Time: 7 hours approx.
We quickly rise today and after getting watered and fed we are off. On this misty day we make great time along the beach with compacted sand beneath our shoes. Our first sight is the hole in the wall, something that was easy to distinguish when we were on the watertaxi. We use Adam's speakers plus their iPod for some tunes to keep up moral. It really works! I also have to adjust my opinion about hiking poles. They seem to be really handy here and even though I only use one and it's a Gandalf like walking stick I really like having it around. It helps a lot when you need to steady yourself but also on the beach it helps to use your hands to propel yourself forward with something besides your leg muscles. Still find it weird that people in The Netherlands use hiking poles though, it's flat for pete sake. Pity we have to leave the beach so soon and head inwards along the cliffs in the forest.
We reach our first river crossing by boat at Nitinat Narrows where you can also buy a great meal. Albeit not the cheapest but then the freshly caught salmon from the river we just crossed is delicious. Chrissy & I even buy a soda. Ahhh taste of sugar is a blessing. We start hiking again and after a very swampy area where we also meet some other Europeans (I even speak some Dutch with a German) along the way we reach the most beautiful parts of the track. Just after Cheewhat River on kilometre marker 37 we take in a very nice forest with a very broad path. It's exactly like Blister & Bliss book say it is. Cribs Creek isn't far off now and we soon reach it. Setting up camp has become a well established routine now and everybody has there own job to do. We enjoy real spaghetti with tomato sauce and some more parmesan. Feast for kings!
Here we also meet some other hikers like two Swiss people (only remember his name, Thomas) but also to other Canadians that we also met back in Port Renfrew near our cabin. We share the campfire that's burning the end of a big dead tree. Adam and I offered to share our Whiskey and Jagermeister with everybody but end up drinking it ourselves, nobody seems to want a little pick me up. We swap stories around the campfire and then it's time for bed.
Day 4 (Saturday): Cribs Creek to Cullite Cove Distance: 17 KM / Time: 8 hours approx.
Today Adam is a bit weary from the booze last night but I'm happy that I remembered to drink plenty of water before sleeping. We start walking the beach as soon as we pack away our tents and eat some oats. Today is a 17 K hike, the longest yet. We reach the second lighthouse on the trail, Carmanah Lighthouse, quite soon after leaving camp. Chez Monique is just around the corner here and we can't wait to eat some real food again. Chez Monique is a makeshift restaurant on the beach run by two friendly women. Besides getting a proper meal (I get myself a hamburger) you can also buy stuff like brownies, gummy bears and other goodies. There is also a free food bin where you can leave food you won't be needing anymore and take stuff you want. Along the way of over the beach we spot a helmet that could have been debris from the Japanese tsunami. The rest of the beach walk is tough going with little pebbles. We soon opt for the forest route that isn't much faster but at least shades us from the sun.
We reach Cullite Cove just 45 minutes before the sunset and quickly start setting up camp. Instead of camping on the beach, which is impossible here due to the large rocks in this cove, we camp just near the edge of the forest. This was my favourite campsite but that is in part because my tent pegs stay put in the solid earth. On the beach this wasn't the case and I needed rocks to secure them (I recently bought some new pegs that are especially designed for beach and snow). Another reason why I appreciated this nice little cove was that there was just one other hiker to share the camp with as most other campsite are quite busy during our week. He is from Austria and has been riding a motorcycle from South-America for a long while to get to Canada. Quite an amazing story and we sit around the campfire while we eat our remaining spaghetti & some camper instant meal we got at Chez Monique while listening to the stories about his trip from South to North America.
Day 5 (Saturday): Cullite Cove to Thrasher Cove Distance: 13 KM / Time: 8 hours approx.
Our last full day on the trail and we got 12 K to go, little did we know that these are the hardest 12 we would do. We also count the longest set of ladders with a total of 234 rungs. Due to the path going through the forest, most of the bridges being logs is stead of proper bridges and the mud & roots it is slooooooow going. Chrissy especially dislikes the logs but she has good reason to as she broke her foot not so long ago and it's acting up as we wind our way through the forest. We soon reach a camp where we aren't camping but take a long needed rest while eating noodles, brownies and other delights. Damn those brownies were good! Adam encounters bears here!
Along our way to Thrasher we see several hikers heading the opposite direction looking very upbeat and fresh. There only two days into the hike so it's understandable. The last kilometre to camp is very though as it's down hill and hard to navigate without any indication how to walk. It doesn't help that this kilometre is a split off from the main route and we will have to do this part again tomorrow. Thrasher Cove looks out over the bay towards our finally destination, Port Renfrew. We set up our tents and eat food quickly before going to bed as we are all tired from today's walk.
Day 6 (Saturday): Thrasher Cove to Port Renfrew Distance: 6 KM / Time: 6 hours approx.
For the last 5 K (not counting the back tracking we did for the first kilometre) the book tells us it will take 5 hours and that's spot on. This part of the hike also meanings going over the highest point on the route but is certainly a very nice area of the WCT. With very open areas with lots of pine trees. We also reach the second donkey engine here and know that the track goes mostly downhill from here on in.
After some more trekking we encounter a group of 20 school children + teachers & parents which makes us glad we didn't have to carry that responsibility along with our gear during the hike. The 75 kilometre marker isn't far off now and we get to sit a while on the beach waiting for the ferry to take us across the mouth of Gordon River.
We sign out at the Park Canada hut and Chrissy and I wait while Adam gets the car. He actually ran the 5 K to the carpark. Bikkel! Our hike is done but we have two more days of relaxing with some nice beers and good food in Victoria before I have to say goodbye again and head back to Seattle with the ferry. I especially enjoyed the Innis & Gunns beer but also like Kilkenny. Thanks for the tip Adam!
The West Coast Trail is a good hike, it certainly could use some upkeep on the boardwalk but I bet their main concern is bridges and especially the very necessary ladders along the route. Sure it's not as diverse as my first hike, Overland Track in Tasmania, but hiking along the beach and through the forest has it's charm. I hated that the ferries prices that are mandatory weren't included in the park fee but that's the only thing I really disliked about the hike. Sure it's tough going in some parts but you kinda forget about that part after a while, especially when you get to share a meal with friends around a warm campfire while you hear the ocean roar and the whales surfacing in the distance. If you ever do this hike get into shape, buy hiking poles, use gaiters and enjoy! Thanks to Adam & Chrissy for sharing a week worth of scenery and hiking, I hope to see you guys soon. Some more pictures here.
I'm already planning my next hike but it's in early stages so more on that soon. My next blogpost will either feature ATM skimming or couchsurfing which I did during my city trips in Seattle & New York (and soon London).


text:
Road infra in suburbs to get a leg up to decongest core city
Keen to decongest the city by facilitating its organic expansion to the outskirts, plans have been charted out to improve the road infrastructure in the suburbs. The State Highways Department, Police and Chennai Metro Rail are working on the plans, said official sources, adding that some of the works are already under way.
DTNext
15 Feb, 2022, 12:00 am
The aim is to strengthen the infrastructure in the areas in the next five years so as to develop them like hubs outside the city like what Noida and Gurgaon are for Delhi, a senior official told DT Next, pointing out how these satellite cities helped decongest the national capital.
"The State Highways Department, Chennai Metro Rail and the police are working out plans to decongest the western suburbs of Chennai. The Metro Rail works are already progressing, while major arterial roads like Chennai-Tirupati Highway (more popularly known as Madras-Tirupati High Road), East Coast Road and Bengaluru highway will be widened and improved," the official said. As the first step, State Highway expansion works would be taken up to clear bottlenecks in Ambattur, Avadi, Tiruninravur, Poonamallee, Kottivakkam, Neelankarai and Uthandi, facilitating the free flow of traffic, the senior official said. Official sources from the Highways Department, the major projects in the pipeline are upgrading East Coast Road from Chennai to Kanniyakumari to four-lane and making the road from Chennai to Kanniyakumari via Tiruchy and Madurai from four to six-lane, and widening the road from Chennai Port to Manali via Tiruvottiyur junction to decongest traffic.
"The road widening and improvement works are already progressing in Kancheepuram district, so are the works on bypass in Tiruttani, Illupur and Rasipuram," said the Highways official, adding that the plan is to increase the total length of roads in Tamil Nadu by five to eight per cent in the next five years. Land acquisition is also under way for 18 bypasses at a cost of Rs 1,035.63 crore, he added.
It may be noted that Chief Minister MK Stalin had written to Union Road Transport and Highways Minister Nitin Gadkari assuring the State government's support to acquire the required lands to speed up the widening of National Highways in Tamil Nadu.
Chennai Metro Rail
State Highways Department
Tiruninravur


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Cop Arrested for Choking Female Officer, As He Demands All Other Cops 'Turn Off F***ing Cameras!'
Though he's facing multiple charges for attacking a fellow officer, the sergeant is still collecting his paycheck on the taxpayers dime.
Sunrise, FL — Earlier this year, TFTP reported on the utterly shocking incident in which a massive cop grabbed a fellow female cop by the throat and choked her for trying to stop him from torturing a handcuffed man. That cop was never fired and despite video of the assault catching the officer in the act, he was never charged — until now.
Veteran Sunrise police sergeant Christopher Pullease was the 21-year veteran of the department who strangled his coworker, and he was not fired. Instead, he has been on paid vacation for several months after he was captured on video strangling that female officer. Highlighting the lack of concern over his actions, Pullease remained on regular duty a week after strangling her and desk duty for two months after that.
That has all changed however, and this week, Pullease was arrested on a slew of charges including tampering with evidence, battery on a police officer, assault on an officer and assault.
After his arrest, he immediately posted bail and is now free on bond.
The incident unfolded in November and it's taken this long for charges to come.
Only after the video was released publicly did a criminal investigation ensue — months later. Had it not been released, we may never have known about it and Pullease could still be on regular duty. What's more, had a regular citizen grabbed a cop by the neck and thrown her against a police cruiser, they would most assuredly not remain free for months after the attack. They would have been beaten, arrested, and probably even killed. But Pullease simply got to stay home and collect a paycheck.
As we reported, the incident unfolded on November 19, 2021 as Sunrise police were arresting a man at a local convenience store for allegedly assaulting people outside. When the video begins, the man is in handcuffs and being loaded into the police cruiser. Though the suspect, Jean Similien was putting up some resistance at first, eventually he sat down and got inside.
For months, we had no idea what anyone was saying as police released a muted video. However, after the audio was released, Pullease's actions appeared that much more egregious — including threatening the female cop and ordering other cops to engage in illegal activity.
As the video shows, the suspect's compliance was of no concern to Pullease, who pulled up to the scene after the suspect was in the back of the squad car. For no apparent reason, Pullease began threatening the suspect with a can of pepper spray.
Below is a transcript of the audio as reported by Local 10.
Jean Similien: "Alright, I'm getting in."
Sergeant Christopher Pullease: "Hey, look at me! Look at me! Look at me! You want to f***** play f****** games? You're playing with the wrong motherf*****!"
Similien: "Do what you gotta do man! You gonna mace me, mace me."
Pullease: "Look at me motherf*****. You want to play f****** games? You ever get disrespectful with my officers I will remove your f****** soul from you f****** body!"
Luckily for Similien, before Pullease "removed his soul," there was a good cop on the scene who was unafraid of stepping in to stop this bad cop in his tracks. As Pullease threatened the handcuffed man, priming the taxpayers of Sunrise for a lawsuit which they would be forced to fund, a brave female officer came from behind the raging cop and intervened and for this she was choked by the massive raging cop, twice her size.
Pullease reacts: "What the f*** you… don't ever f****** touch me again!" as he strangles his coworker.
Female officer: "No! . . Sir!"
Pullease: "Get the f*** off me!"
Female officer: "Sir!"
After choking the female officer, Pullease then threatens her, saying he'll be back.
Pullease: "And I'll f****** see you in about 5 minutes!"
When he comes back, Pullease made the unlawful order saying "Everybody turn off their f****** cameras."
No one knows what happened after except for the people on the scene.
"The sergeant is accused of intentionally touching or striking the female police officer against her will, assaulting her by holding pepper spray up to her face, and assaulting the civilian male by holding pepper spray to his face," the Broward State Attorney's office, said in a statement. "If convicted, the maximum possible penalties are five years in state prison for felony battery on a law enforcement officer, one year for assaulting a law enforcement officer, and 60 days for assault on a civilian."
The statement went on to say that Pullease "is also accused of tampering with evidence, his cellphone, in January of this year. If convicted, the maximum possible penalty is five years in state prison."
For now, Pullease is still collecting a paycheck with the department releasing the following statement about his employment. "Sergeant Pullease has been on administrative leave throughout the course of the investigation. Further determination with regards to the employment of Sergeant Pullease will be made in accordance with Florida State Statute 112.532, due process, and the collective bargaining agreement."