If you don’t like being raped, or beaten or any of the many other perversions that the Muslims practice THEN DON’T LET THEM IN YOUR COUNTRY — OR YOU WILL BE VERY SORRY.
Monthly Archives: March 2017
*(From The Religion of Peace) – Sweden: Muslim Migrant Forced 10-Year-Old to Watch Porn Before Raping Her
Muslims are basically not nice people, and if you then that a few our so the rest are the same well , you are a fool.
The Plight of Mall REITs Linked to Poor Retail Market
Major retailers now have to compete on two fronts — the online world, and the traditional brick-and-mortars. The former is growing by leaps and bounds at the expense of the latter. Because of this dramatic shift in consumer shopping behavior, multiple companies are forced to close their doors. Why have them open and incur steep overhead costs when you can make better sales online?
From a business perspective, it makes perfect sense. But as more companies wake up to this trend, the retail market risks fracturing. That’s because when the big shops close for good, they eliminate the foot traffic that was once there. This siphoning inevitably spells trouble for already embattled retail real estate investment trusts, or REITs.
Mall REITs control the vast properties occupied by major shopping centers and strip malls. For decades, business was good. Anybody that wanted anything in the pre-internet era had to go to a retail establishment, and retailers were willing to pay top dollar for prime real estate. Mall REITs were making money hand over fist.
But all that changed with e-commerce. Physical location no longer carried the magnitude of advantage it once did. As consumers began buying discretionary items through their computers, the brick-and-mortars fell below their break-even point. When they closed, they took the cash flow of mall REITs with them.
The initial closures were the mom-and-pops. But when the majors started collapsing, mall REITs suddenly found themselves in a sea of red ink. And that’s exactly why so many publicly-traded variants have fallen underwater. There’s no one to pick up the slack. Worse yet, in the retail market, nobody wants to.
Shell’s New Permian Play Profitable At $20 A Barrel
by Tyler Durden
Authored by Rakesh Upadhyay via OilPrice.com,
OPEC’s worries about the booming U.S. oil production have increased significantly with the big three oil companies’ interest in shale. Exxon Mobil Corp., Royal Dutch Shell Plc, and Chevron Corp., are planning $10 billion of investments in shale in 2017, a quantum jump compared to previous years. All the naysayers who doubted the longevity of the shale oil industry may have to modify their forecasts.
OPEC lost when they pumped at will as lower oil prices destroyed their finances, and now they are losing their hard-earned market share as a result of cutting production. Shell’s declaration that they can “make money in the Permian with oil at $40 a barrel, with new wells profitable at about $20 a barrel” is an indication that Shell is here to stay, whatever the price of oil.
The arrival of the big three oil companies with their loaded balance sheets is good news for the longevity of the shale industry.
The oil crash, which started in 2014, pushed more than 100 shale oil companies into bankruptcy, causing default on at least $70 billion of debt, according to The Economist. Even the ones that survived haven’t been very profitable, according to Bloomberg, which said that the top 60 listed E&P firms have “burned up cash for 34 of the last 40 quarters”.
Therefore, during the downturn, the smaller players had to slow down their operations, but this will not be the case with the big three.
“Big Oil is cash-flow positive, so they can take a longer-term view,’’ said Bryan Sheffield, the billionaire third-generation oilman who heads Parsley Energy Inc. “You’re going to see them investing more in shale,” reports Bloomberg.
The majors are attempting to further improve the economics of operation. Shell said that its cost per well has been reduced to $5.5 million, a 60 percent drop from 2013. Instead of drilling a single well per pad, which was the norm, Shell is now drilling five wells per pad, 20 feet apart, which saves money previously spent on moving rigs from site to site.
Shell is not the only one—Chevron expects its shale production to increase 30% every year for the next decade. Similarly, Exxon plans to allocate one-third of its drilling budget this year to shale, and it expects to quadruple its shale output by 2025.
“The arrival of Big Oil is very significant for shale,” said Deborah Byers, U.S. energy leader at consultant Ernst & Young in Houston. “It marries a great geological resource with a very strong balance sheet.”
$30 billion has been spent on land acquisitions in the Permian basin since mid-2016, which is a favorite among oil companies.
Considering the new projects and the resurgent shale boom, Goldman Sachs expects oil output to increase by 1 million barrels a day year-on-year. The outcome is an oversupply in the next couple of years.
“2017-19 is likely to see the largest increase in mega projects’ production in history, as the record 2011-13 capex commitment yields fruit,” the U.S. investment bank said in a research note on Tuesday, reports Reuters.
The U.S. Energy Information Administration expects the U.S. oil production to top 10 million barrels by December 2018, a level only surpassed in October and November 1970.
OPEC is running out of options.
Modern Day Snake Oil – Is 2% Growth As Good As It Gets?
by Tyler Durden
Authored by Mike Shedlock via MishTalk.com,
There have been 11 recessions and 11 recoveries since 1949.
The current recovery is the slowest recovery since 1949 and closing in on the becoming longest.
Growth since the 2nd quarter of 2009 is a mere 2.1%. The Wall Street Journal asks Is Two Percent as Good as It Gets?
“The growth seen during the recovery might, for a while, be as good as it gets,” the Federal Reserve Bank of San Francisco’s John Fernald, Stanford University’s Robert Hall, Harvard University’s James Stock, and Princeton University’s Mark Watson said in a study to be presented among Brookings Papers on Economic Activity.
Inquiring minds may wish to download the Brookings’ report entitled Disappointing Recovery of Output After 2009 but I found it a waste of time.
Okun’s Law
The report was mostly mathematical gibberish based on Okun’s Law.
Okun’s law (named after Arthur Melvin Okun, who proposed the relationship in 1962) is an empirically observed relationship between unemployment and losses in a country’s production. The “gap version” states that for every 1% increase in the unemployment rate, a country’s GDP will be roughly an additional 2% lower than its potential GDP. The “difference version” describes the relationship between quarterly changes in unemployment and quarterly changes in real GDP. The stability and usefulness of the law has been disputed.
Clearly, Okun’s Law is at least as useless as any widely believed economic law, which is to say totally useless.
The supporting paper consists of 90 pages of largely unintelligible garbage such as the following.
Commendable Effort
The Wall Street Journal managed to condense 90 pages of nonsense down to 2 pages of nonsense. That’s a highly commendable effort, and the best one could reasonably expect.
Here’s the conclusion: “The causes aren’t entirely clear.”
I searched the 90-page report for the word “debt“. Care to guess the number of hits? I bet you can: zero.
Modern Day Snake Oil
I was discussing economic indicators with Pater Tenebrarum at the Acting Man Blog a couple of days ago. He pinged me with the correct takeaway.
Economic forecasting is not a science, and it is actually not the task of economic science to make forecasts (contrary to what is commonly asserted). Forecasting is akin to the task of the historian. Mises called speculators “historians of the future”.
Economic laws only play a role insofar as they can be used as constraints for a forecast. The problem is that all these models simply look at the data of economic history, at statistical series that always turn tail “unexpectedly”, driven by human action.
All these mathematical models are complete humbug. It is modern-day snake oil.
Still, it’s pretty clear that the market cares nothing for top-down or bottom-up forecasts of economic activity…
Democrats Use Senate Committee Rule To Delay Gorsuch and Rosenstein…
WHISTLEBLOWER FILES CHARGES AGAINST OBAMACARE LOOTING SCHEME
Obama was looting everything he could the past 8 years, I wonder why Congress couldn’t find this out; do you think they were in on it?
THE DEEP STATE . . .
Sadly it looks very accurate, so its trump and the deplorables against all the rest in DC.
DEEP STATE MULLS “CONTINUITY OF GOVERNMENT” PLAN TO OVERTHROW TRUMP
I would not take this information lightly there is a war going on right noe and Trump is in the cross-hairs.
Centinel2012 