I’m Just ********* Fed Up!

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Thoughts for Growth

 

 

Here we are in 2012 – an era where we have technological advancements that would make even Albert Einstein marvel, but would vindicate George Orwell.  We’ve advanced the world around us, and forgotten what really makes us human – our connection with nature and each other.

We’ve become pompous idiots, telling each other that our way of life is better than others, as if each of us is the savior of this world.  Most religious people proselytize what they don’t live up too, or they assume to speak for their god(s), but if you read their scriptures, their god(s) isn’t/aren’t as mean and stubborn as those that profess obedience.  Many people I know have grown up in religious families, but are now atheist because of what I just wrote about, and or similar reasons.  People see what they want to see, not what is.

We see life…

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EUR/USD Holds at Triangle Support Ahead of Bernanke Speech – International Business Times

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EUR/USD Holds at Triangle Support Ahead of Bernanke Speech – International Business Times.

EUR/USD 4H Chart 8/30/2012 3:30PM EDT

EUR/USD 8/30/2012 4H chart

The EUR/USD is following the consolidation scenario so far ahead as world financial leaders get ready for the Jackson Hole Symposium. The 4H chart shows the pair now sitting on top of a projected triangle support. As the 8/30 US session winds down, the market is showing some demand here at this near-term trendline.

As noted in the previous update, a true breakout will be either a rally above 1.26 or a decline below 1.24. In the middle, the market is non-directional, or “noisy”

In this non-directional scenario, the near-term mode is consolidation. In the 1H chart, we had the RSI reading tag 30, and is now bouncing off this near-term oversold area. However, the upside is limited in such a consolidation mode.

The 1H chart shows the central pivot of the triangle in the 1.2530-1.2535 area. This is the “neutral” area of the triangle and can be expected to produce some intra-session choppiness.

Tomorrow (8/31), Bernanke will make a speech at the Jackson Hole Symposium in Wyoming. His tone on QE will be compared to that of the FOMC meeting minutes which showed more urgent consideration of easing. Maybe then, we can break out of the triangle. Then, if the break can sustain through the 1.24-1.26 range, we have a breakout and likely direction for the next week. Legarde, head of the IMF, will be speaking on Friday as well, but probably after retail trading ends, so the effects will not likely be seen on the charts until the start of next week’s trading.

Watch out for the triangle and then the true range break!

EUR/USD 1H Chart 8/30/2012 3:40PM EDT

EUR/USD 8/30/2012 4H chart

Fan Yang CMT is a forex trader, analyst, educator and Chief Technical Strategist for FXTimes – provider ofForex News, Analysis, Education, Videos, Charts, and other trading resources.

Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.

Article Source: www.ibtimes.com

 

Samsung Prepares to Deal with Fallout of U.S. Ban

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Samsung Electronics is talking with U.S. mobile service providers to look for ways to deal with a U.S. ban on some of its mobile phones sought by Apple, the Wall Street Journal reported Tuesday.

Apple on Monday applied to the Northern District Court of California for a U.S. ban of eight versions of Samsung’s Galaxy S and Galaxy S2 smartphones. The application came after a nine-member jury on Friday decided Samsung owes Apple US$1.05 billion in compensation for copying the designs of the iPhone and iPad.

The WSJ said Samsung is discussing changing the software programs for the functions that the jurors decided were copied from the iPhone. Even if the functions carry out the same commands, different software programs could enable Samsung to avoid infringement disputes with Apple.

The WSJ speculated that Samsung has already acquired substitute technologies for functions such as the “finger-to-zoom” function that allows a part of an image to be enlarged using the thumb and index finger, and the “double tapping” function that allows a particular image to fill the entire screen.

It remains to be seen whether Samsung will use its own technology or whether Google, which developed the Android OS featured in the Galaxy series of smartphones, will come up with a new OS.

Samsung is concerned that making the changes before Judge Lucy Koh announces her final ruling in the case could be perceived as an admission that it infringed Apple’s patents.

Article Source: english.chosun.com

Ryan: Romney won’t ‘duck tough issues’ on economy

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vRepublican vice presidential nominee, Rep. Paul Ryan addresses the Republican National Convention in Tampa, Fla., on Wednesday, Aug. 29, 2012. (AP Photo/J. Scott Applewhite)

Associated Press/J. Scott Applewhite – Republican vice presidential nominee, Rep. Paul Ryan addresses the Republican NationalConvention in Tampa, Fla., on Wednesday, Aug. 29, 2012. (AP Photo/J. Scott Applewhite)

(Republican vice presidential nominee, …)

Republican vice presidential nominee, Rep. Paul Ryan addresses the Republican National Convention in Tampa, Fla., on Wednesday, Aug. 29, 2012. (AP Photo/J. Scott Applewhite)

TAMPA, Fla. (AP) — Seizing the campaign spotlight, vice presidential candidate Paul Ryan embraced “the calling of my generation” to help lead the country in tough times Wednesday night and pledged to cheering Republican National Convention delegates and a prime time TV audience that Mitt Romney will make the bold and difficult decisions needed to repair the nation’s economy.

“After four years of getting the runaround, America needs a turnaround, and the man for the job is Governor Mitt Romney,” the 42-year-old Wisconsin lawmaker declared in what amounted to a national debut. He spoke at a convention dogged by Tropical Storm Isaac, downgraded from a hurricane but still inflicting misery on millions along the nearby northern Gulf Coast.

“We will not duck the tough issues; we will lead,” Ryan said.

His speech was part attack on Obama, part spirited testimonial to Romney, all leavened by a loving tribute to Ryan’s own mother, seated across the hall in a VIP box. “To this day, my mom is a role model,” he said while she beamed and exchanged smiles with one of his children and delegates cheered.

As for Obama and the Democrats, he said they ‘have run out of ideas. Their moment came and went. Fear and division is all they’ve got left.”

To the cheers of the delegates, he pledged Republicans would save Medicare from looming bankruptcy, despite constant accusations from Democrats that the GOP approach would shred the program that provides health care to more than 30 million seniors.

“Our nation needs this debate. We want this debate. We will win this debate,” Ryan declared. But he offered no details of the remedy Republicans would propose.

Romney, in a secondary role if only for a moment, accused Obama of backing “reckless defense cuts” amounting to $1 trillion. Addressing the American Legion in Indianapolis, he said, ‘There are plenty of places to cut in a federal budget that now totals over $3 trillion. But defense is not one of them.”

In Tampa, the Romney team scripted an economy-and-veterans-themed program and kept a wary eye on Isaac. The storm remained a threat to levees in the New Orleans area almost exactly seven years after the calamitous Hurricane Katrina.

Inside the convention hall, delegates cheered a parade of party leaders past, present and — possibly — future.

The presidents Bush, George H.W., elected in 1988, and his son, George W., winner in 2000 and 2004, were featured in an evocative video. Arizona Sen. John McCain, the party’s 2008 nominee, spoke on his 76th birthday and said he wished he’d been there under different circumstances. And an array of ambitious younger elected officials preceded Ryan to the podium, Sens. Rand Paul of Kentucky and John Thune of South Dakota among them.

Former Secretary of State Condoleezza Rice praised the Republican ticket in a speech that made no overt mention of Obama. “Mitt Romney and Paul Ryan will rebuild us at home and inspire us to lead abroad. They will provide an answer to the question, ‘Where does America stand?'”

Ryan said in excerpts released in advance that he was accepting “the calling of my generation to give our children the America that was given to us.”

He added, “The present administration has made its choices. And Mitt Romney and I have made ours: Before the math and the momentum overwhelm us all, we are going to solve this nation’s economic problems.

“And I’m going to level with you: We don’t have much time.”

As he spoke a pair of electronic boards tallied the nation’s growing national debt, approaching $16 trillion overall and more than $5 billion since the convention opened.

Ryan’s vice presidential acceptance speech marked a prime-time national debut by a relatively young lawmaker lauded by fellow Republicans for his understanding of the complexities of the nation’s budget.

Romney tapped Ryan this month as his running mate, a selection that cheered conservatives who have doubted the presidential candidate’s own commitment to their cause.

If Ryan’s selection was designed in part to appeal to conservatives, the convention was scripted to strengthen the ticket’s appeals among women, Hispanics and others who prefer Obama over the Republicans, as well as veterans who supported McCain in 2008.

Romney delivers his own nationally televised acceptance speech Thursday night in the final act of his own convention. The political attention then shifts to the Democrats, who open their own convention on Tuesday to nominate Obama and Vice President Joe Biden for a second term.

Deep into a two-week stretch of national gatherings, the race for the White House is in a sort of political black hole where the day-to-day polls matter little if at all as voters sort through their impressions.

Despite the hundreds of millions of dollars spent on television commercials by the candidates, their parties and supporting groups, the race has appeared unusually close since Romney clinched his nomination last spring.

Only eight or so battleground states appear to be competitive, although Republicans say they hope to expand the campaign after Labor Day, particularly in industrial states struggling to recover from the worst economic recession since the Great Depression.

As chairman of the House Budget Committee, Ryan is the architect of a plan to curb long-term deficits by reducing taxes and making deep cuts in accounts ranging from farm programs to education. He also advocates saving billions from remaking Medicare and Medicaid, the government’s health care programs for seniors and the poor.

The Medicare changes, in particular, are potentially incendiary in an election campaign. Democrats say that Romney, with his selection of Ryan, has accepted political ownership of a plan that would turn the program from one in which seniors’ medical bills are automatically paid into one in which the government would give them checks to purchase coverage at costs that would require them to dip deeper into their pockets.

For all of the attack ads and inflammatory rhetoric, the two campaigns tiptoed carefully around the storm ravaging the Gulf Coast, vying to demonstrate concern for the victims without looking like they were seeking political gain.

Obama told an audience in Virginia he had spoken on the phone with governors and mayors of the affected states and cities while aboard Air Force One earlier in the day. Romney’s aides let it be known he might visit the region once the storm had passed.

Romney’s reference to $1 trillion in defense cuts was a 10-year figure that combined reductions already enacted by Congress and reductions scheduled to begin next January as a result of Congress’ failure to reach agreement on a broad plan to cut deficits.

He did not say so in his speech, but most Republicans, including Ryan, voted for the first installment as well as the second.

And another convention speaker, Sen. Paul of Kentucky, pointedly disagreed with Romney on defense spending.

“Republicans must acknowledge that not every dollar spent on the military is necessary or well-spent, and Democrats must admit that domestic welfare and entitlements must be reformed,” he said.

Romney’s reference to 9/11 was glancing in a speech that accused Obama of unwise defense cuts. Romney noted the economy is the top issue in the race, but he said, “Our debates can change suddenly, with a ringing phone in the dead of night … or a plume of smoke on a clear blue morning.

“The first job of government is to keep the American people safe,” he said, pledging to do so.

Democrats spent part of their time working to tarnish the Republican brand. They pointed to an ABC News report that said Romney’s campaign had held a reception in Tampa Tuesday night aboard a yacht flying the flag of the Cayman Islands.

Romney has been criticized for having investments there by Democrats who say the effect is to reduce his taxes.

In an appearance before University of Virginia students, Obama said he understood Republicans didn’t have much nice to say about his tenure in office. He told his listeners the GOP hoped to disparage him so much that they would either vote for Romney or sit out the election.

Romney had already returned to Florida aboard his chartered jet when Senate Republican Mitch McConnell of Kentucky began the convention’s daily battering of Obama.

“America is suffering through an economic calamity of truly historic dimensions,” he said in excerpts released in advance of his convention appearance.

“Some are calling it the slowest recovery in our nation’s entire 236-year history. To call this a recovery is an insult to recoveries.” He spoke a few hours after the government reported economic growth for the second quarter was 1.7 percent, sluggish but marginally better than earlier estimated.

___

Associated Press writers Steve Peoples in Indianapolis, Julie Pace in Charlottesville, Va., Jim Kuhnhenn in Washington and Philip Elliott, Beth Fouhy and Tamara Lush in Tampa contributed to this story

Article Source: news.yahoo.com

influencing the market

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Currency UK – How the process works

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Things that you should know.

U.S. Consumer confidence falls in Aug

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Americans are feeling worse about the economy than they have in a long time. Despite the improved US housing market, which was seen as the trigger for the recession, registered its first gain in house prices for almost two years in June. The confidence among US consumers fell to the lowest level in August this year as, the Congressional Budget Office (CBO) has released an ominous report warning that the country is heading toward a “fiscal cliff.” The CBO says it could lead to a significant recession and the loss of two million jobs.

In the Eurozone, the Greek government is planning to launch Chinese-style “economic zones” with special tax and regulatory breaks in a desperate bid to attract foreign investment. Greece’s development minister said they have already started initiating permission plan request with the European Commission. The zones, which would be specially designated in areas of Athens and other key cities, would have special tax breaks and administrative freedoms for companies to come and set up businesses. “They believe these zones will boost the real economy by creating a special regime to attract investment and generate exports”.

In terms of economic calendar German Consumer Price Index (CPI) data is due for release today. GBP has weakened slightly against EUR and is trading at a range of 1.2580-1.2615.

Currency UK will offer you the best exchange rates available and ensure that your subsequent international transfers are handled as quickly and as efficiently as possible.

Article Source: www.currencyuk.co.uk/

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