Monthly Archives: April 2012
If this surprisingly good week makes you want to jump back into stocks with both feet, be patient, writes MoneyShow’s Tom Aspray. A cautious approach will pay off in the leading sectors and plays he has uncovered.
Of course, it was earnings from Apple (AAPL) that saved the day. After trading as low as $555 on Tuesday afternoon, it surged as high as $618 early Wednesday in response to the reported 35 million iPhones sold.
Apple (AAPL) looks ready to close April above its monthly Starc+ band for the third month in a row. For those who are not familiar with Starc band analysis, these bands identify extreme price levels in any market. When prices are at or above the Starc+ bands, it is a high-risk time to buy. Read More
Think the national debt won’t impact your business? Think again. As James Kwak, co-author (with Simon Johnson) of White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You, revealed to me in a recent interview, “It’s quite plausible [the national debt] will start having serious economic effects within the next 5-10 years.” The government’s mix of high spending and deep tax cuts risks one of two negative consequences. The first, says Kwak, is that “over time, if the national debt stays high, investors will lose confidence in the federal government and interest rates will go up, which affects everybody because it makes it harder to do things like borrow money to build factories. Or the other possibility is the Federal Reserve might start creating a lot of money in order to fund the national debt and that could cause inflation.” Either outcome is bad for the economy – and your business. Read More
An abandoned van containing a device with 600 pounds of explosives was found in Newry, Northern Ireland, near the border with the Republic of Ireland, police said Saturday.
The device, believed to be linked to dissident IRA groups opposed to the peace process, was “fully primed and ready for use,” police said.
The bomb, found late Thursday, was one of the biggest found in Northern Ireland, police said.
It could have caused “death and massive destruction” had it gone off, Chief Superintendent Alasdair Robinson told reporters in Ardmore.
“The device contained two blue barrels with 125kg of homemade explosives in each one, and a detonator — all the equipment which meant this device was ready to go,” he said.
“This was a very significant device — twice the size of the bomb which was left at Newry Courthouse two years ago. If this had exploded it would have caused devastation.
“To put it in perspective, anyone within 50 meters of this device would have been killed and anyone within 100 meters, seriously injured.”
The road leading to the border was closed within minutes after officers became aware of the suspicious vehicle, he said. A member of public raised the alert after driving past the abandoned van, he said. Read More
If the Cyber Intelligence Sharing and Protection Act, better known as CISPA, reached President Obama’s desk in its current form, he would veto the bill, according to a statement from the White House.
CISPA, says the White House, would allow the government and the intelligence community unfettered access to Americans’ personal information and data, sacrificing individuals’ personal privacy and civil liberties.
CISPA is designed to allow private firms to share information about cybersecurity threats with one another and with the federal government. The bill’s advocates call such information sharing a necessary step in defending the U.S.’s networks from a “digital Pearl Harbor,” while opponents argue that sharing puts the civil liberties and personal privacy of Internet users in jeopardy.
“[CISPA] would allow broad sharing of information with governmental entities without establishing requirements for both industry and the government to minimize and protect personally identifiable information,” reads the statement.
The White House also believes that CISPA would allow private companies to share users’ information with one another — unhindered by adequate supervision or transparency — while simultaneously shielding them from lawsuits that spring up as a result of that information sharing.
“Citizens have a right to know that corporations will be held legally accountable for failing to safeguard personal information adequately,” reads the statement. “The broad liability protection not only removes a strong incentive to improving cybersecurity, it also potentially undermines our Nation’s economic, national security, and public safety interests.” Read More
A sergeant will be discharged for criticizing President Obama on Facebook in a case that called into question the Pentagon’s policies about social media and its limits on the speech of active duty military personnel, the Marine Corps said Wednesday.
Sgt. Gary Stein will get an other-than-honorable discharge and lose most of his benefits for violating the policies, the Corps said.
The San Diego-area Marine who has served nine years in the Corps said he was disappointed by the decision. He argued that he was exercising his constitutional rights to free speech.
“I love the Marine Corps, I love my job. I wish it wouldn’t have gone this way. I’m having a hard time seeing how 15 words on Facebook could have ruined my nine-year career,” he told The Associated Press.
Gary Kreep, an attorney for Stein, said he would pursue administrative appeals within the Marine Corps but anticipates the effort will fail. He said he planned to file an amended complaint in federal court.
“As long as he wants to pursue this, we will be supporting him,” said Kreep, who is executive director of the United States Justice Foundation, an advocacy group.
The Marines acted after saying Stein stated March 1 on a Facebook page used by Marine meteorologists, “Screw Obama and I will not follow all orders from him.” Stein later clarified that statement, saying he would not follow unlawful orders.
Brig. Gen. Daniel Yoo, the commanding general of the Marine Corps Recruit Depot San Diego, said in a brief statement Wednesday that evidence supported an administrative board’s recommendation to discharge Stein. Read More