Submitted by Bill Bonner – Chairman, Bonner & Partners
Not much market action yesterday. So, let us turn to what is bound to be the funniest… and scariest… story in the financial world.
Once again, our hat is off to the stalwart, intrepid and half-mad Japanese. They are going where no respectable economist would go… no responsible public policy should go… and no one with his wits about him would want to go.
We begin with the latest news: Nippon is in a slump. The numbers from the third quarter confirm that the feared “triple-dip” recession is here.
Japanese growth fell at a 1.6% annual rate for the June-to-September quarter. The consensus forecast had been for a 2.2% rise in growth.
This is bad news for Abenomics. He lets fly his arrows. They end up sticking in his derriere. The idea (if you can call it that) was to stimulate inflation, growth and job creation.
How? Continue reading
Submitted by Mark O’Byrne – Founding Partner of GoldCore
The Ebola crisis has faded from headlines but remains a risk after the death of another Ebola patient in Nebraska and the death of a suspected victim in New York yesterday. This brings the number of confirmed deaths to two in the U.S. and possibly three if the New York victim is confirmed as having had Ebola.
The toll in the Ebola epidemic has risen to 5,420 deaths out of 15,145 cases in eight countries, the World Health Organization (WHO) said today. Transmission of the deadly virus still “intense and widespread” in Sierra Leone.
The figures, through November 16, represent a jump of 243 deaths and 732 cases since those issued last Friday. Cases continue to be under-reported, the WHO said in its latest update.
Tragic scenes unfolded in Brooklyn yesterday afternoon when a woman collapsed, dead, in a salon with reports of bleeding from her mouth and nose. This is frequently how Ebola victims die as Ebola disables the body’s coagulation system, leading to uncontrolled bleeding. By the time the body can rally its second line of defense, the adaptive immune system, is frequently too late.
The unfortunate woman, who had travelled from Guinea three weeks ago and was on a watch list of the New York Health Department, showed no prior symptoms of having Ebola and was apparently being checked daily.
Her remains were collected by an emergency medical team wearing hazmat suits and the salon was later sterilized. While she is believed to have died of a suspected heart attack it seems protective measures to prevent the spread of the virus, if tests determine that Ebola was indeed the cause of death, were rather lax. Continue reading