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When it comes to investing, look ahead instead of in the rearview mirror
Yin and yang. Salt and pepper. Hall and Oates. Markets and the economy?
Elyse Ausenbaugh
Like the aforementioned pairs, you don't often hear talk of what's going on with markets without mention of what's going on with the economy, and vice versa. But also like the aforementioned pairs, markets and the economy aren't one and the same.
Various risks – like hot inflation, an ultra-aggressive Federal Reserve, war in Europe, sputtering growth in China, etc. – loom over the outlook and can lead one to believe the U.S. could be headed for a recession in 2023. However, it's important for investors to understand both the interplay and the distinction between markets and the economy.
Here are the punchlines:
Stock and bond markets are forward-looking machines, with prices that reflect what investors think may happen to the economy in the future.
In all but one of the past eight recessions, the stock market found its bottom while the economy was still deteriorating.1
For as painful as 2022's selloff has been, it has created potential: Today offers, in our view, one of the best entry point for a diversified portfolio in over 10 years.
Markets are forward-looking
2022 offers a helpful example of the relationship between markets and the economy. The market started its decline back in January, and crossed the bear market threshold (-20% from highs) in early June – a time when the unemployment rate was just 3.5% (near historical lows), consumer spending was still growing at a solid clip and both services and manufacturing surveys suggested continued economic expansion.2
The point is that the economic backdrop looked relatively healthy and resilient, with one particular (big) caveat: Inflation pushing economy-wide prices higher at the fastest rate in over 40 years.3 The inflation problem and the Fed's response to it (i.e., aggressive rate hikes in rapid succession) are at the root of 2022's market turmoil because of how investors expect elevated interest rates will hinder economic activity going forward.
Investors pore over economic data because it can be useful and important in identifying directional trends and economic turning points, but it's backward looking; it tells us what happened in a current period.
For investors, it's kind of like driving a car. Do you keep your eyes on the rearview mirror, or the road ahead of you?
The time to consider investing may be when it feels like everything is getting worse
Today's market prices reflect the amalgamation of investors' expectations about the future. As consensus sniffs out a possible recession to come, markets tend to decline in anticipation of a contraction in economic activity, which can hurt consumers and businesses and low or negative profit growth for the companies people invest in.
Looking at history reveals an important takeaway. The stock market tends to bottom while the economic backdrop is still deteriorating. In every recession of the past 50 years – except the Tech Wreck in the early 2000s – the S&P 500 began its climb back to highs before economic activity troughed.4 In the median occurrence, the market rally began about four and a half months before GDP found its low point and generated 30% upside in that period.5
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This chart shows returns from daily S&P 500 data for various recessions.
August 1957 Recession: S&P 500 bottom in October 1957, GDP bottom in March 1958, days between S&P 500 bottom and GDP bottom 160, returns between S&P 500 bottom and GDP bottom 8%, returns between S&P 500 bottom and first GDP rise 15%.
December 1969 Recession: S&P 500 bottom in May 1970, GDP bottom in December 1970, days between S&P 500 bottom and GDP bottom 219, returns between S&P 500 bottom and GDP bottom 33%, returns between S&P 500 bottom and first GDP rise 45%.
November 1973 Recession: S&P 500 bottom in October 1974, GDP bottom in March 1975, days between S&P 500 bottom and GDP bottom 179, returns between S&P 500 bottom and GDP bottom 34%, returns between S&P 500 bottom and first GDP rise 52%.
July 1981 Recession: S&P 500 bottom in August 1982, GDP bottom in September 1982, days between S&P 500 bottom and GDP bottom 49, returns between S&P 500 bottom and GDP bottom 18%, returns between S&P 500 bottom and first GDP rise 37%.
July 1990 Recession: S&P 500 bottom in October 1990, GDP bottom in March 1991, days between S&P 500 bottom and GDP bottom 171, returns between S&P 500 bottom and GDP bottom 27%, returns between S&P 500 bottom and first GDP rise 26%.
March 2001 Recession: S&P 500 bottom in October 2002, GDP bottom in September 2001, days between S&P 500 bottom and GDP bottom -374, returns between S&P 500 bottom and GDP bottom -25%, returns between S&P 500 bottom and first GDP rise -33%.
December 2007 Recession: S&P 500 bottom in March 2009, GDP bottom in June 2009, days between S&P 500 bottom and GDP bottom 113, returns between S&P 500 bottom and GDP bottom 36%, returns between S&P 500 bottom and first GDP rise 57%.
February 2020 Recession: S&P 500 bottom in March 2020, GDP bottom in June 2020, days between S&P 500 bottom and GDP bottom 99, returns between S&P 500 bottom and GDP bottom 39%, returns between S&P 500 bottom and first GDP rise 49%
Median Values Across All Recessions: days between S&P 500 bottom and GDP bottom 137, returns between S&P 500 bottom and GDP bottom 30%, returns between S&P 500 bottom and first GDP rise 41%.
At this point, the general consensus amongst market participants is that the U.S. is likely to enter recession in the next year, possibly bringing job layoffs, a rise in bankruptcies and an erosion of corporate profitability. But it's when the outlook perhaps feels the most bleak that investors should remember what eventually comes after: recovery. It's always darkest before dawn, and history suggests that getting or staying invested when sentiment is as bad as it's been in 2022 can offer compelling rewards.
This chart shows the UMich consumer sentiment index from 1972 to 2022. It began at 82 and rose to 95 by August 1972. It dipped to the first significant low of 58 in March 1972 amidst a recession. It then rallied to 90 by August 1976. It fell here to another significant low of 52 in May 1980, also amidst a recession. It then rose to 101 by September 1984. It dipped to 64 within a recession in October 1990 before rising to a series high of 112 in January 2000. A recession followed. It then fell to a significant low of 55 in November 2008 amidst a recession, rallied, then fell again to another significant low of 56 in August 2011. It rose to 101, fell to 72 in the middle of a recession then rallied again. It fell to a series low of 50 in June 2022. In July of 2022 it rose to 51.5 and then continued to do so in August hitting 58.2. In September it stayed steady around 58.6 and then in October increased to 59.9. The average of the index over this time period is 85.
In the four previous significant lows in history, the S&P 500 averaged +20% returns in the following year. Specifically:
February 1975: +22%
May 1980: +20%
November 2008: +22%
August 2011: 15%
This year's pain has revealed potential
Going back to the 1970s, there have been just nine episodes of stocks selling off as much or more than they have in 2022.6 The S&P 500 doesn't go "on sale" like this every year. What's more exceptional is the concurrent and dramatic selloff in core bonds – in fact, it's having the worst year of performance on record.7
Chart shows YTD performance of US stocks and bonds compared to all years since 1976. A sampling of performance is below. Performance is listed by calendar year, S&P 500 performance, and then Bloomberg US Aggregate Bond performance.
1976: S&P 500 23.9%, U.S. Investment Grade Bonds 13.4%
1977: S&P 500 -7.2%, U.S. Investment Grade Bonds 3.0%
1978: S&P 500 6.6%, U.S. Investment Grade Bonds1.4%
1979: S&P 500 18.6%, U.S. Investment Grade Bonds1.7%
1980: S&P 500 32.5%, U.S. Investment Grade Bonds 2.7%
1992: S&P 500 7.6%, U.S. Investment Grade Bonds 7.4%
1994: S&P 500 1.3%, U.S. Investment Grade Bonds -2.9%
2000: S&P 500 -9.1%, U.S. Investment Grade Bonds 11.6%
2001: S&P 500 -11.9%, U.S. Investment Grade Bonds 8.4%
2002: S&P 500 -22.1%, U.S. Investment Grade Bonds 10.3%
2021: S&P 500 28.7%, U.S. Investment Grade Bonds -1.5%
2022: S&P 500 -19.8%, U.S. Investment Grade Bonds -16.0%
What it can mean is that investors have the luxury of choice. These attractive yields can be found in high quality segments of the fixed income market, like investment grade corporate bonds and high credit quality municipal bonds.8 By merely recovering back to its high where it started the year, the S&P 500 could generate a cumulative total return north of 25%.
This chart shows the earnings and coupon yield for a 60% S&P 500 / 40% Barclays US Agg portfolio. The 30-year average is 5.25% and is represented by a dashed line across the chart. The data begins in October of 1992 when portfolio earnings and coupon yield for this portfolio was 6.10%. The value dipped a bit to 5.65% a year later in October of 1993 before moving all the way up to 7.84% in January of 1995, it then fell off sharply ending up at 4.51% in December of 1998. The portfolio earnings and coupon yield value then fluctuated a bit before coming to a peak in November of 2008 at 8.14% before dramatically decreasing during the Great Financial Crisis to 4.75% in December of 2009. In October of 2011 it hit 6.37% and slowly decreased and was around 4.01% in September of 2016. It then crossed the 30-year average peak to 5.41% in January of 2019 and then crashed to 2.66% in December of 2020. In September of 2022 it hit 5.58%.
Getting here hasn't been fun, and there could be more volatility along the way. It is believed that investors have a compelling cross-asset class entry point in over a decade.
1.FactSet, Bureau of Economic Analysis, Haver Analytics, J.P. Morgan. As of Sep. 2022.
6.Bloomberg Finance L.P. Data as of October 31, 2022.
8.Bloomberg Finance, L.P. as of Nov. 2022. References Bloomberg Global Aggregate Index and Bloomberg Municipal Bond Index.
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Canada should recognize Syrian opposition and boost aid: Editorial
As a humanitarian tragedy looms in Syria, Canada should recognize the Syrian National Coalition, boost humanitarian aid and do our bit to help the Free Syrian Army.
Sun., March 3, 2013timer3 min. read
Bashar Assad's generals are now using Scud missiles on civilians in Aleppo, the latest crime against humanity in a war that has claimed 72,000 lives. His troops are extorting cash from grieving families who want to bury their children. Some 4 million Syrians need aid. And the United Nations warns that the refugee crisis is building "at a staggering pace." Nearly a million people have fled the country.
Yet for all that Prime Minister Stephen Harper's government seems curiously disconnected from the hellish plight in which many of Syria's 21 million people find themselves. Canadian officials have duly criticized Assad's "despotic" regime and the "unspeakable horror" it is inflicting on Arab Spring reformers. And Harper has pledged humanitarian aid. But given the scope of the crisis, Ottawa's response has been tepid, at best.
Unlike the United States, Britain and other allies, Canada does not recognize the Syrian National Coalition headed by Moaz Alkhatib, a moderate Islamist, as the legitimate representative of Syria's opposition forces — even though the Assad regime itself is willing to negotiate with the coalition. Unlike Britain, Australia, France and others the Harper government refused to sign a petition to the UN Security Council asking it to instruct the International Criminal Court to open a war crimes probe. Compared to the UN appeal for $1.5 billion in aid for Syria, and the U.S. government's $500 million in aid, Canada's $48 million over two years has been modest, to say the least. And Ottawa has shown little interest in helping the Free Syrian Army with non-lethal aid, as the U.S. is now doing, much less arming the rebels.
Granted, the collapse of Assad's minority Alawite-led regime would likely result in a Sunni Muslim-led government in a country that is awash with weapons. That's a concern to Israel, which enjoyed a stable if chilly peace with the Assad family and fears any change will be for the worse. But, like it or not, change is coming. The Assad regime is disintegrating despite the support it gets from Russia, China and Iran. Recognizing that, Canada's allies are aligning with the Syrian opposition with an eye to building up Islamist moderates and elbowing aside radicals. By refusing to get involved, the Harper government is forfeiting any hope of exerting a positive influence on Syria's future leaders.
Canada should recognize the Syrian National Coalition, boost our humanitarian aid and do our bit to help the Free Syrian Army. That's the approach U.S. President Barack Obama's administration is taking.
U.S. Secretary of State John Kerry has just promised $60 million to the Syrian National Coalition to help it shape a unified opposition and distribute food and aid to areas under its control. Moreover, for the first time Washington has pledged to supply the rebel fighters with food and medical supplies. The European Union has eased its arms embargo on Syria to allow nonlethal equipment to be sent in to protect civilians. Britain is looking to provide combat gear, including military transport vehicles, body armour and night-vision goggles. Saudi Arabia and other Gulf states are providing light weapons. The U.S., France and Britain provide communications equipment.
This slow but concerted ratcheting-up of support is designed to help the Syrian opposition set up a credible government of their own on Syrian soil, much as Libya's rebels did in Benghazi. The message to Assad could not be clearer.
Whatever the Harper government may think of the Syrian opposition and its fighters, Ottawa has no excuse not to do more on the humanitarian side. The UN warns of a "humanitarian tragedy" unfolding as terrified Syrians flee to Iraq, Jordan, Turkey and Lebanon. Of the UN's most recent $1.5 billion appeal to help Syrian civilians, barely $200 million has been delivered. Aid workers are pleading for more. Canada should help plug that gap and save lives.

redpajama_set_name: RedPajamaCommonCrawl


Ever since hearing last Friday that the Business Journal made a ground-breaking decision to withdraw its earlier endorsement of the proposed half-cent sales tax for "translational medical research," I have been wanting to get my hands on a copy of the full editorial.
But I've been REEEAL busy lately, and it's not particularly easy to come by the Business Journal, if you don't subscribe online or to the printed edition.
They've gone to a full pay wall on the Web, so you can see only about the first 100 words of any given article before being asked to subscribe in order to read further.
Also, I don't think the Business Journal has box sales any longer, because I couldn't find a box anywhere between the Plaza and Waldo.
Sometimes you want something so badly, you suspend your normal thought processes.
That essentially is why we editorialized in favor of the Jackson County Translational Research sales tax in mid-August. Although we had questions at the time about the exact setup of the proposal, they were eclipsed by enthusiasm for the overall goal of building on the area's existing life sciences efforts, especially through three impressive local institutions.
But a closer examination of the issue brings us to new ground as an editorial board. Although we are as supportive as ever of the tax proposal's goal, we no longer support the half-cent Jackson County sales tax as the means for bringing it about.
Although supporters of the tax point to the Johnson County Education Research Tax as a good example of a county stepping up to support a less traditional public goal, taking the comparison further highlights flaws in the Jackson County proposal.
Johnson County's one-eighth-cent levy is smaller, not only reducing the burden on taxpayers, but posing less competition for other county budgeting priorities. This is an important consideration for Jackson County if it is to continue pursuing a commuter-rail system and addressing basic infrastructure and protection needs.
The Johnson County tax is overseen by a board appointed by public bodies and populated by elected officials. This provides a level of accountability and partnership that is lacking with the Jackson County proposal, where the main recipients of the proceeds would control a majority of board seats and the county government has one representative.
It is clear that the Jackson County measure was meant to minimize county involvement as much as possible. An outline presented to the Kansas City Business Journal editorial board included no county representative on the board — the same board that would hire a scientific director and appoint both community and scientific advisory boards.
Promises that Jackson County will receive a 20-percent cut of revenue resulting from the proposed Institute for Translational Medicine are fuzzy, at best. How much revenue will the institute stand to receive after taking into account the interests of scientists and institutions instrumental in the basic scientific work that the translation institute seeks to commercialize? How will partners Children's Mercy Hospitals and Clinics, St. Luke's Health System and the University of Missouri-Kansas City be compensated for their collaboration? What about interests of any outside investors?
The answer is that no one can say. Backers say negotiations are underway and would continue beyond Election Day.
Finally, previous reporting by the Business Journal has pointed out that the area's big need — if it is to optimize the economic benefit of the life sciences — is not another translational research lab, but investors. Only private investors can put up the hundreds of millions — if not billions — of dollars needed to bring a new drug to market. These investors can dictate where startups locate their operations and the jobs that go with them.
Backers of the proposed Jackson County tax say that they have no other choice after failing to win passage of a state incentive program and admit that a big reason for moving quickly is to get the measure considered during an offseason, low-turnout election. Although they deserve credit for being upfront about what's in the best interest of their goal, that's different from the best interests of Jackson County residents.
Even voters in favor of the establishment of a Jackson County Institute for Translational Medicine owe it to themselves to give more than a cursory review to the 20-year investment proposal. After engaging in this process as an editorial board, we believe the present tax proposal suffers from a lack of detail, insufficient public discussion and too little accountability to taxpayers.
Now, that is an outstanding editorial, isn't it?
I love the emphasis on the lack of public accountability; the proponents' rush to get the measure on the ballot; and the logic of leaving extremely risky and costly research to private investors.
In addition, urging voters to "give more than a cursory review to the 20-year investment proposal" is right on the money.
Shamefully, that is exactly what the Civic Council of Greater Kansas City — the wealthy, elite group of business leaders behind this unholy proposal — DO NOT want voters to do.
No, no! Don't examine this too closely because if you do, you just might see the gaping holes.
The proponents just want voters to watch their heart-tugging TV ads and go out and vote on emotions only.
Well, Civic Council; the voters are onto you. They're pissed, and they're going to blow you away on Tuesday.
You can see this post and much more about Jackson County Question 1 on the stopabadcure.org website.


Cincinnati has been getting a lot of attention lately, but maybe that's not so good.
Some national surveys are saying that our city is one of the worst places to live in the United States.
Our mayor and Ohio's governor dismiss this kind of stuff. Do you?
How do you feel when you hear this? Does it make you want to take action and make some changes here or are you happy with the way things are?
Honest to god, I didn't intend to do another post on Roger Ach this week, but the stuff just keeps coming.
On the CinciPulse web site (the sad remains of what was once the proud Downtowner newspaper) is a classified ad. There are five mahogany laminate desk units for sale. Oh my, what bargain prices!
That phone number listed in the ad? Give it a call. That's Roger's phone number.
Either Roger is getting into the office furniture business or he needs money badly and he's selling off what he can.
Suggestion: Sell your empty Pulse boxes that are still all over downtown. No wait, I've said that 200 times already.
There's something kind of sweet about this, something kind of sad.
Here's a woman that misses Skyline Chili so much, she has to make it herself. You see, the nearest Skyline is over an hour away from her. What's a girl to do?
I sort of wish she had more of a life than putting a video together of her making this stuff, but the video is down below.
Somebody please get this woman a date.
Sorry. The title of this post is just a little joke. Bed bugs can't afford to travel. Do you know how expensive airfare is these days?
Apparently, New York City has their own bed bugs, but unlike Cincinnati, they have an expert to help deal with them.
Louis Sorkin knows all about them. He even lets them feed on his blood. Majikthise gives us the details.
How's it going, guy? Probably not all that great – that's my guess.
They've been talking about you lately on local television here and the Cincinnati Business Courier did a story on you last week. You're getting lots of attention.
We've picked on you a little bit here too. Sorry – that's just our nature. No one is off limits, but I do want to be fair, so I have an offer.
Maybe all this bad press you're getting is unfair. Why don't you come here to this blog and state your case? Send me your side of the story – send it to larrygross@hotmail.com – and I'll post it right here.
If you would be kind enough to do this, maybe you could answer a few questions for me.
I know Doug Taylor, the guy who owned the Downtowner before you took it over and killed it. Doug's a nice, decent guy. Why would you try to beat him out of $56,000?
I also know Sam Robinson – a hard working, nice person. Is it professional to not pay him the $2,000 you owe him?
Please let me know your side of this, Roger. E-mail me at larrygross@hotmail.com and I'll post it right here.
My guess is you have money to pay people. I mean if you didn't, you would have picked up all those empty Pulse boxes and sold them to get some cash, right?
I'm sorry. I don't mean to go on and on, but I have another question.
Some months back, a friend of yours wrote a piece in CintiPulse about how unfairly you were treated – something about how you were falsely charged with check fraud. Thing is, the piece was published in a publication that you own and your friend didn't even sign his or her name to it.
Who is your friend? Let us know. E-mail me at larrygross@hotmail.com. Let's set the record straight.
And please don't send Carol Meinhardt in your place. I read her response to the Cincinnati Business Courier story about you and while maybe she means well, the fact of the matter is the Business Courier knows how to fact check.
I'm thinking you're probably an alright guy – maybe just misunderstood. Let's show Cincinnati your good side.
Hope to hear from you soon. Again, that's larrygross@hotmail.com.
We're skipping the "That Was the Week That Was – In Blogs" this Sunday. Why? I have a book of essays coming out in the spring and if I don't start finishing it up; it will come out in the spring of 2020.
In place of that post, let's put up a Bill Maher video. His "Real Time" show returned Friday night with the final part of the show still being "New Rules." A guy from Cincinnati gets mentioned in one of the new rules and I couldn't agree with Bill more on his opinion on bankers.
Ready for the weekend? It's going to be back to winter but it's always nice to have a few days off – right?
Last Saturday I was out with a friend in the afternoon and she needed to run into Kroger's on Ferguson Road to pick up a few things. I decided to wait outside the store next to the exit doors.
Standing there smoking a cigarette, I watched a woman come out of the store with a cart moving rather quickly. A Kroger employee was right behind her.
"You need to return those items to the store," she told the woman. The woman left the cart and started running.
It finally dawned on me that the woman was trying to steal groceries from Kroger's. As the Kroger employee ran after the woman, I walked over to see what was in the cart.
It was all toilet paper, rolls and rolls of it – different brands, different colors, but all toilet paper. There must have been 60 rolls in that cart.
The woman got away. I talked to the Kroger employee named Wanda for a little bit asking her what tipped her off to the woman.
"I just watched her walk out the door," Wanda said.
I guess this type of thing happens all the time, but I can't help but wonder why just toilet paper?
If you're the woman who attempted to steal it, do me a favor: Please tell me why.


text:
Hajjilar Rural District () was in Chaypareh District of Khoy County, West Azerbaijan province, Iran. At the National Census of 2006, its population was 8,856 in 1,953 households. Chaypareh District was separated from the county, established as Chaypareh County, and divided into two districts: the Central and Hajjilar Districts, the latter of which was the successor to Hajjilar Rural District and divided into Hajjilar-e Jonubi and Hajjilar-e Shomali Rural Districts in the newly established county.

References

Khoy County

Rural Districts of West Azerbaijan Province

Populated places in West Azerbaijan Province

Populated places in Khoy County

redpajama_set_name: RedPajamaWikipedia


text:
Home Education Nigerian Students give ASUU, FG ultimatum to call off strike
Nigerian Students give ASUU, FG ultimatum to call off strike
Emmanuel Anthony
National Association of Nigerian Students (NANS) has said the ongoing strike action embarked upon by the Academic Staff of Universities must end by January 5th.
NANS issued the ultimatum as it said it is tired of the lingering strike action.
Activities have been halted in universities across the country for almost 9 months now, due to the strike action.
The student association president, Comrade Sunday Asefon, stated this in a statement threatening that if both parties don't oblige by the given date, the association would take strategic actions.
"The Federal Government and ASUU will face the students and tell us why we have to suffer this much," he said.
The union president said the ongoing strike is the longest in the history of the university in Nigeria. He explained that the strike has been long enough to be called off saying it is ridiculous that both the FG and ASUU have not found a common ground yet.
The unending nature of the strike the president noted has left students with no choice but to do all it can to bring an end to the strike.
Asefon also noted that NANS should have a third party representative in every FG and ASSU meeting for posterity sake and transparency in leadership.
The student union president again expressed delight over the safe release of the 344 abducted schoolboys in Kankara, Katsina State.
He said the welfare and safety of Nigerian students across all the 36 states and diaspora is one of his priorities and as long as he remains the revolutionary President of NANS.
Previous article549 entrepreneurs to receive N2bn FG COVID-19 grants in Kebbi
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Given that there is Instagram for all the most used mobile platforms (iphone, Android ™ and Windows Phone )its appeal has increased. This "imaging social media" is based on a similar system as Twitter, which suggests that there are followers and also everybody can be complied with by a person even without alert as well as on the other hand you could follow whoever you desire - My Instagram Followers.
Nonetheless, there might occur circumstances when we just want to know that is following us so to recognize how to view a list of customers following you or individuals you're following checked out the directions below.
A listing will show up revealing a checklist of users. If the listing consists of less compared to 200 individuals, it will be alphabetized. If more than 200, it will show by latest.
On Instagram, all the users have a profile where they can post photos or video clips of their day/life/etc. They also have the option to FOLLOW various other users on the website as well as look at their images, videos and also whatnot. On your profile, if you clicked where it says followers you will certainly locate a listing of people who follow you who could see your pictures or video clips in their feed when you publish them. When you adhere to another person, they are included in the list that claims FOLLOWING. (This does not always happen. If somebody has a personal account as well as you have to request to FOLLOW them as well as they deny it, you will not have the ability to view their blog posts) I hope this can be of some aid to you:-RRB-.


You can buy pot seeds like grand daddy purple by visiting the shop. First mistake I was not getting the right soil. My supply store didn't have Miracle Grow potting soil so I grabbed what I thought was ok but it was a mix that is used to blend with other soils and had no nutrients. The plants grew up with weak stems and they were falling over. I tried planting them deeper and must have disturbed the roots and they all died! I still have more seeds and I will try again being careful not to make the same mistakes!
I've ordered GDP weed seeds and purchased seeds from Robert several times and I've always been very satisfied.....quality seeds lead to quality **** and at 62 I know quality when I smoke it. I've had several strains and Grand Daddy Purple is one of my favorites...it has a floral taste and the high is relaxing and calming. Another one of my favorites is Chronic Widow....the buds turn purple and so sticky! I was very surprised on how quickly my package got here and how fast they sprouted. They are growing good and soon will be transplanted outdoors.
The shipping took about a week and a half. First and second time growing this EVER in my life. Didn't do much training the first time around but second time topped once, LST'd, super cropped, and scrounged. Much better yield and quality of flower. I had good luck with the last seeds I bought so I ordered the Grand Daddy Purple. Haven't tried them yet but expect good results. Novice grower. I'm looking forward to the Critical Mass and Northern Lights I ordered which I also received in a timely manner.
I'm pretty sure both orders took the exact same amount of days from order to being delivered. Very consistent. I look forward to ordering more in the future. Easy order through the website. Arrived in less than two weeks. All seeds look robust. Great deal on the Grand Daddy Purple seeds (buy 10 get 10 free), I have germinated and started to grow four Skywalker.
I had a big demand for that strain. They are doing nicely. Will be starting 5 Grand Daddy Purple in early June when current plants are harvested. I will buy from you guys again. Hello I got on my first order 5 grand daddy purple or GDP is 5 mango and 5 LSD I planted three of each and all but one mango came up they look great doing real good happy with the ones that came up hope all the rest do good.


Blue Velvet Staten Island picture is in category Uncategorized that can use for individual and noncommercial purpose because Every trademarks referenced here in are the properties of their respective owners. You are able to browse other picture of Blue Velvet Staten Island within our galleries below. If you want to see other picture, you can search our other category. Having problem with Blue Velvet Staten Island picture copyright? you can read our DMCA page in here and e mail us at here with give to us any detail info that you're an owner for Blue Velvet Staten Island picture.


text:
Lisbeth Korsmo, oorspronkelijk bekend onder haar geboortenaam Lisbeth Berg (Oslo, 14 januari 1948 – 22 januari 2017), was een Noors langebaanschaatser.

Loopbaan
Lisbeth Berg brak in 1966 door met een tweede plaats op het Noorse allroundkampioenschap achter Sigrid Sundby. Na vijf zilveren medailles won ze in 1971 voor het eerst het nationale kampioenschap. In totaal werd ze zeven keer allroundkampioen en zes keer sprintkampioen van Noorwegen.

Ze nam deel aan vier Olympische Winterspelen met als belangrijkste wapenfeit een bronzen medaille op de 3000 meter op de Olympische Winterspelen 1976 in Innsbruck, op slechts enkele honderdste seconden achterstand van Tatjana Averina (goud) en Andrea Mitscherlich (zilver). Dit was haar grootste internationale succes. Ze nam twaalf keer deel aan het wereldkampioenschap allround met als beste klassering een vijfde plaats in 1971. Die plek haalde ze in datzelfde jaar ook op het Europees kampioenschap. In 1971 werd ze zesde op het wereldkampioenschap sprint.

Na de Olympische Winterspelen 1980, waarop haar landgenote Bjørg Eva Jensen een gouden medaille op de 3000 meter won, nam Lisbeth Korsmo-Berg afscheid van de actieve schaatssport. Ze overleed in 2017 op 69-jarige leeftijd.

Noors langebaanschaatser
Noors olympisch deelnemer


text:
Q: google adwords allows javascript in the ad? neither Google Adwords UI nor their API provides a function to add custom html for my ad creatives. but I would need javascript to, for example, fire a beacon when the ad is served.
how can I insert an ad with javascript?

redpajama_set_name: RedPajamaStackExchange


An Alcoa employee in the production plant in Goose Creek, South Carolina.
German business morale improved in July for the third straight month in a row, figures from the Ifo institute released on Thursday showed.
The Business Climate Index rose to 106.2 in July, above expectations of 106.1. In June, the figure was 105.9.
The euro jumped to 1.3235 against the dollar after the data was released, but then fell back to 1.3187.
The monthly index from the Ifo think tank surveys 7,000 firms to get a consensus of business confidence among manufacturing and services industries.
The figures for business climate and conditions rose from the previous month. Business expectations declined slightly, to 102.4 in July from 102.5 in June.
"In total, the conditions in the German economy remain fair, manufacturing is relatively strong and the retail sector, which has not been so strong, is picking up," Gernot Nerb, researcher at Ifo, told CNBC. "The construction sector is in a strong upswing…the consumer is also spending more…domestic demand is relatively buoyant."
Jennifer McKeown, senior European economist at Capital Economics said that the data pointed to a "modest" uptick for Germany.
"The rise...was broadly in line with the consensus forecast but perhaps came as as light disappointment after yesterday's sharper rise in the PMI," she said in a note.
Recent weak data on trade and industrial production "were a warning not to get too carried away about the speed of the recovery," she added.
"In all, while prospects for Germany are clearly better than those elsewhere in the euro-zone, we still see GDP rising modestly at best this year and next."


text:
<?xml version="1.0" encoding="utf-8"?>
<LinearLayout xmlns:android="http://schemas.android.com/apk/res/android"
    android:orientation="vertical" android:layout_width="match_parent"
    android:layout_height="match_parent">

    <Button
        android:id="@+id/tuichudenglu"
        android:layout_width="match_parent"
        android:layout_height="wrap_content"
        android:text="退出登录"/>

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        android:id="@+id/renzhengshenfen"
        android:layout_width="match_parent"
        android:layout_height="wrap_content"
        android:text="我的小区"/>

</LinearLayout>

redpajama_set_name: RedPajamaGithub


If you lost track of U.S. savings bonds purchased decades ago for you when you were a child, the Treasury Department can help you find them.
QMy grandfather and father passed away when I was 8 years old. I heard they had savings bonds for me. I'm 37 now and have no one left to ask about it. How do I find out if there really are any savings bonds for me, and how do I go about finding them?
You likely won't be able to provide all of the information requested on the form, such as the serial numbers of the bonds, but answer as many of the questions as you can, says Brad Benson, public affairs specialist with the Treasury Department's Bureau of the Fiscal Service, which runs the savings bond program. "The most relevant information will be the name the bond was purchased under, the Social Security number and the address. And the approximate dates of the bonds will help, too," he says. "Any information you can provide will help, even though it might not fit neatly on the form."
Benson recommends including your own Social Security number as well as the names and Social Security numbers of your father and grandfather, or anyone whose name the bond may have been purchased under (such as your mother or guardian). Some people purchase bonds under their own name, address and Social Security number and have them payable on death to a child or grandchild. Others know the Social Security number and address of the child or grandchild, so they purchase the bonds under the child's name and information. You won't know the specific dates of the bonds, so a suspected range of dates is probably the best you can do. For the address, give any addresses that may have been used when the bonds were purchased, says Benson.
For more information about the procedures, see TreasuryDirect's Replacing or Reissuing a Paper EE Bond page or Reissuing or Replacing Series HH or Series H Savings Bonds. For more information about when the different types of savings bonds were issued and whether or not they may still be earning interest, see Treasury Securities That Have Stopped Earning Interest and the History of the Savings Bonds Program table.


text:
[![CI Status](http://img.shields.io/travis/yjpal/LTRouter.svg?style=flat)](https://travis-ci.org/yjpal/LTRouter)
[![Version](https://img.shields.io/cocoapods/v/LTRouter.svg?style=flat)](http://cocoapods.org/pods/LTRouter)
[![License](https://img.shields.io/cocoapods/l/LTRouter.svg?style=flat)](http://cocoapods.org/pods/LTRouter)
[![Platform](https://img.shields.io/cocoapods/p/LTRouter.svg?style=flat)](http://cocoapods.org/pods/LTRouter)

## Example

To run the example project, clone the repo, and run `pod install` from the Example directory first.

## Requirements

## Installation

LTRouter is available through [CocoaPods](http://cocoapods.org). To install
it, simply add the following line to your Podfile:

```ruby
pod "LTRouter"
```

## Author

yjpal, yl21ly@qq.com

## License

LTRouter is available under the MIT license. See the LICENSE file for more info.


West Penn Wire products have been awarded to individual channel partners. Pricing and award information may be found listed under partners information.
ViewSonic products have been awarded to individual channel partners. Pricing and award information may be found listed under partners information.


I'm going to share my thoughts with you regarding what we may see in our local real estate markets over the next year based on the statistics from 2016 and my past years of experience. Of course if there is some major national or international economic disturbance in the force, all bets are off – hopefully we won't run into something like that this year.
There are a few factors which help determine the strength or weakness of a market and which way sales and prices will go.
One is demand. There is still a strong demand especially in the lower and middle price ranges. Demand for homes in the higher price ranges began slipping in 2015 and continued during 2016. In 2017 this trend will most likely continue although if there are changes to the federal tax rates that may result in a rebound of the demand for homes in the luxury price ranges.
A second factor is supply. We often refer to this as inventory and speak in terms of Months of Inventory. This is a way of measuring whether the advantage is on the seller's side (below 6 months inventory), on the buyer's side (above 6 months of inventory) or if we have a balanced market (around 6 months of inventory). We have been in a seller's market for a few years now (with inventory levels in the 2-4 month range most of the time) and I don't see this changing significantly in 2017. With prices going up as much as they have you would think that there would be more people selling their homes, however, there are real reasons that homeowners are holding on to their homes longer than before and will continue to do so during this next year.
A third factor is affordability. You may think this means the same as prices, but that is only one part of the affordability factor. The 3 parts to affordability are 1) prices, 2) interest rates and 3) wages. The largest percentage of buyers are ones who finance their purchase to some extent or another and so that percentage of buyers will pay attention to what their monthly mortgage payment will be even more so, in many cases, than the price of the home they are buying. It is fairly typical for a buyer to have a ceiling set for their monthly mortgage payment and then working backwards from THAT they determine what price of home they can afford. When interest rates are low, like they have been for several years, buyers can and will buy more expensively-priced homes than they would have at a higher interest rate because the monthly payment is 'affordable'. This, along with strong demand and low inventory, has allowed prices to increase over the past few years in the way they have. However, this means that when interest rates start going up that what will be considered to be 'affordable' will not be the same as it is now and most likely price increases will slow, stall or even reverse.
Interest rates went up almost 1/2 percent after the election and we will probably see another 1/2 percent increase spread out over the middle and second half of 2017. When interest rates have an initial increase that is relatively small there is often an increase in demand and sales initially. The reason for that is the buyers who had been sitting on the fence decide they'd better act before there is too much of an increase in interest rates and so there is an increase in buying activity and we will probably see that in the Spring and Summer.
However, when interest rates get closer to 5% what is likely to happen is that sales in the upper price ranges and the upper half of the mid price ranges will start to slow down and sellers will start having to do more price reductions to get their homes to sell than they have over the past few years. Homes in the lower part of the mid price ranges and those in the lower (more affordable) price ranges will not be affected as much and those which are truly a good value will still sell quickly and likely with multiple offers.
Each area has its own local market and there will be some that continue to grow in 2017 and will be strong while others will see more price reductions and longer times on the market. I've done an analysis of some of the local markets based on their statistics and presented whether I think they are still strong or starting to peak. This can give you a better idea of the overall condition for Glendale, La Cañada, Burbank, Los Feliz and Pasadena but ideally you should have info on the specific neighborhoods in whatever city where you want to buy. Let me know if you would like to get that info for the areas you want to buy in.
For sellers who have procrastinated, waiting to see whether they can get more this year than they would have last, it would be smart to sell in the first half of the year if possible. Since it takes about 3 months from the point where you start working with your listing agent to a closed sale (if you and your agent do things correctly), that means you should make your decision by no later than the end of winter and take action by no later than the end of May. If you have thought of selling but have concerns about your particular set of circumstances then you should still try to make your decision one way or the other within the next few months – contact me with your concerns if you just can't seem to make a decision and I'll either tell you your concerns are valid and you shouldn't sell now or will give you some possible solutions to your concerns if there is a way to do what you want to do.
You should also make sure, if you do sell this year, that you price your home appropriately as that can make a huge difference in what you walk away with (see my article this month on why the initial list price will determine how much you get from your sale).
For buyers, you should make sure you are fully prepared to buy. If you will be getting financing but haven't yet gotten preapproved, don't even think about going out to seriously look at properties. If you want to be successful buying, you will need to have a good understanding of the local markets you are looking in so that you are realistic in your approach and don't lose a lot of time trying to operate as if the market was different than it is.
Whether you are buying or selling you deserve the most professional representation possible and I will be happy to make sure that your interests are watched out for. Feel free to call or text me on my cell at 818-268-8300 or email me at [email protected].
Ron and his team cover the northern part of L.A. County from the 10 to the 210 and the 405 to the 605.
The Top Priority: What Do You Need and Want?


text:
← Jorinde Voigt (2013) Albert Oehlen (2014) → Overview Issue No. 93 / March 2014 "Speculation"
Foto: Courtesy Gagosian Gallery
First Point (2014)
Richard Phillips's work occupies a space in which art and fame, painting and the massive output of the image-producing industry intersect. It is a space where the solidity of the canvas and its material, ever so suavely finished concreteness encounters the smoothly circulating reproductions of photographed bodies and faces aspiring to a glamorous existence in pictures. Who hasn't by now seen his portraits of Sasha Grey? Who doesn't remember them? Phillips's art exploits this recognition factor, capitalizes on it, and puts it on display at the same time. It restages the conditions of celebrity's emergence, turning its consideration into a nearly tautological experience. Looking at a work by Phillips, one doesn't simply see the canvas, the motif, or the mass-mediated image that functioned as its prompt. One also recognizes this feeling of recognizing the depicted person, while the polished surface of painting reiterates the photography's shininess, or the screen on which that recognition initially occurred.
For his edition for TEXTE ZUR KUNST, a print of the painting First Point, Phillips has used an image of Lindsay Lohan. The icon of scandalous downfall is shown here at the beach, clutching a surfboard, while her outline is hugged tightly by a wetsuit whose curvaceous geometries segment an arrangement of intensely candy-colored surfaces. Phillips has modified his usual procedure here: Rather than turning to a preexisting image, he produced a film with the actress, also titled First Point, a visual homage to the surf genre. Serving as an independent piece, as which it has also been exhibited, that video now functions as the most expensive of all sources – a work of its own, from which this image, too, derives.
Archival pigment print, 55.9 x 83.8 cm, Edition: 100 + 20 A.P., numbered and signed on the front, € 690.- plus shipping.
Technique: Archival pigment print
Edition of 100 + 20 A.P.
numbered and signed on the front


Do you like spicy foods? Flavor food with chili pepper, black pepper, or cayenne red pepper rather than with animal fat. Research suggests that spicy foods provide many positive benefits for the body.
For instance, seasoning food with chili pepper stimulates circulation, increasing the body's temperature. This allows the body to burn more calories throughout the day. Spicy foods also act as a appetite suppressant, reducing the urge to snack throughout the day. Eating hot foods may take some getting used to, but the effort is well worth it. Research shows that hot chili peepers actually protect the stomach lining, preventing gastric damage. Additionally, they are high in nutrients such as calcium and vitamins A and C. Using spices to boost flavor in foods, cuts out the added salt, sugar, and fat. So next time you are needing a flavor enhancer try: cinnamon, chili peppers, turmeric, garlic, oregano, basil, thyme, or rosemary!
Try incorporating these spicy recipes in your meal rotation.
Stir together the olive oil, onion, and garlic in a saucepan over medium heat until the onion has softened and turned translucent, about 5 minutes. Stir in the quinoa, curry powder, salt, pepper, cumin, cinnamon, and chicken stock. Bring to a boil, then reduce heat to medium-low, cover, and simmer 20 minutes until the quinoa is tender.
Once the quinoa has finished cooking, stir in the drained garbanzo beans, toasted pine nuts, and raisins. Serve warm or cold.
Hey there! I am Andrea, a registered dietitian, fitness fanatic, and mommy of 3 kiddos 2 years old and younger! Follow my blog for seasonal deliciously simple recipes, nutrition and health tips, workouts, and twin mommy tips.


It's that time of year; many of us may be expecting some extra cash through a lower tax rate or refund, work or another source. After paying down debts and addressing other outstanding financial obligations, why not put that extra cash to work towards a financial goal for you and your family? Here are a few ideas to get you started.
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