Strategy to Survive Winter in Alaska Without Any Money? “Rob” a Bank, Sit in Lobby, Wait for Cops to Arrest You, Keep You Warm and Feed You

October 25th, 2009

Via: Anchorage Daily News:

Timmy Lee Porter walked into a Midtown bank this month and handed a teller a note scribbled on the back of a bank slip.

“This is a bank robbery, place 1 100.00 bill on the counter or I will shoot you.”

Police arriving on the scene moments later found that note on the floor. The $100 bill was still in the bank. So was Porter, who had taken a seat on a couch in the bank lobby, apparently waiting to be arrested.

Porter, 41, was initially charged with felony bank robbery, but after reaching a plea agreement with prosecutors, he pleaded guilty in front of a magistrate judge Thursday to a single misdemeanor count of bank larceny. Why Porter held up the bank and then waited to be arrested was unclear.

“Why he did what he did is a mystery,” Assistant U.S. Attorney Dan Cooper said.

According to an affidavit filed in federal court by FBI Special Agent Steven Payne, Porter walked into First National Bank Alaska at 201 W. 36th Ave. just after noon on Oct. 6 and passed the note to a female teller.

When the scared and surprised woman paused, Porter said, “I’m serious,” though he didn’t show a gun. The woman slid the demand note to the floor and passed the robber a bundle of cash from her drawer.

“Porter removed what (the teller) believed to be a single $100 bill from the money she provided him, then left her station, sat on a couch in the bank lobby, watched the main entrance and appeared to be waiting for something,” Payne wrote in an affidavit.

That something came moments later when police swarmed the bank and found him.

“I’m the guy you’re looking for,” Porter said, according to the affidavit. He showed them a single $100 bill.

…

“People are motivated — sometimes it’s to feed a drug habit, sometimes it’s just pure economics and other times it’s looking for a warm place to sleep,” Gonzalez said. “A lot of times they’re homeless, nowhere to go, and they think that’s the easiest way to get three warm meals and a cot.”


Baghdad Blast Toll Passes 130

October 25th, 2009

Via: BBC:

At least 132 people have been killed and 520 injured in two car bomb attacks in Baghdad, Iraqi officials say.

The blasts hit the ministry of justice and a provincial government office near the heavily fortified Green Zone.

They came in quick succession at 1030 (0730 GMT) as people headed to work during the morning rush hour.

This is the deadliest attack in Iraq since August 2007 and comes three months after the US handed security control of cities to local forces.


Israeli Police Storm Jerusalem’s Holiest Site

October 25th, 2009

Via: AP:

Israeli forces stormed Jerusalem’s holiest shrine Sunday, firing stun grenades to disperse hundreds of stone-throwing Palestinian protesters in a fresh eruption of violence at the most volatile spot in the country.

A wall of Israeli riot police behind plexiglass shields closed in on the crowd, sending many protesters — overwhelmingly young men — running for cover into the black-domed Al-Aqsa mosque. The mosque is one part of the compound known to Jews as the Temple Mount and to Muslims as the Noble Sanctuary.

After several rounds of clashes, dozens of protesters were still holed up inside the mosque at midafternoon, occasionally opening shuttered doors to throw objects at police. The Israeli forces did not enter the building and police said they had no plans to do so. There were no serious injuries.

Israel’s national police chief, David Cohen, accused a small group of Muslim extremists of trying to foment violence — echoing a charge made by Israeli Prime Minister Benjamin Netanyahu two weeks ago.

“The police will act with a strong hand against anyone who disrupts order on the Temple Mount and against those incite to riot,” Cohen said.


Obama Declares Swine Flu a National Emergency

October 25th, 2009

Via: Reuters:

U.S. President Barack Obama has declared 2009 H1N1 swine flu a national emergency, the White House said on Saturday.

The declaration will make it easier for U.S. medical facilities to handle a surge in flu patients by allowing the waiver of some requirements of Medicare, Medicaid and other federal health insurance programs as needed, the White House said in a statement.

The U.S. Centers for Disease Control and Prevention said on Friday that swine flu has become widespread in 46 of the 50 U.S. states, a level comparable to the peak of ordinary flu seasons but far earlier and with more waves of infection expected.

Obama signed the statement on Friday night.

The White House statement said the declaration was intended to prepare the country in case of “a rapid increase in illness that may overburden health care resources.” It was similar to disaster declarations issued before hurricanes hit coastal areas.

“It’s important to note that this is a proactive measure — not a response to a new development,” an administration official said.

“H1N1 is moving rapidly, as expected. By the time regions or healthcare systems recognize they are becoming overburdened, they need to implement disaster plans quickly,” he said.

Seasonal flu normally peaks sometime between late November and early March and kills about 36,000 Americans in an average year.

Swine flu has hit young adults and children the hardest, while seasonal flu normally is more dangerous for people over age 65.

H1N1, declared a public health emergency earlier in the year, has killed more than 1,000 people in the United States and put more than 20,000 in the hospital since it emerged earlier this year, the CDC said. But health officials are quick to note that the actual number of cases cannot be measured.

The new declaration clears the way for waivers of federal requirements that, for example, could prevent hospitals from establishing off-site, alternate care facilities that could help them deal with emergency department demands, the White House said.

The Health and Human Services Department is trying to deliver vaccines against H1N1 but says production is falling short of projections because companies are having trouble making them.


Disney’s Neuroscience/Advertising Lab

October 24th, 2009

Via: New York Times:

A technician in a black lab coat gazed at the short, middle-aged man seated inside the Walt Disney Company’s secretive new research facility here last week, his face shrouded with eye-tracking goggles. Read ESPN.com on that BlackBerry, she told him soothingly, like a nurse about to draw blood. “And have fun,” she added, leaving the room.

In reality, the man’s appetite for sports news was not of interest. (The site was a fake version anyway.) Rather, the technician and her fellow researchers were eager to know how the man responded to ads of varying size. How small could the banners become and still draw his attention?

A squadron of Disney executives scrutinized the data as it flowed in real time onto television monitors in an adjacent room. “He’s not even looking at the banner now,” said Duane Varan, the lab’s executive director. The man clicked to another page. “There we go, that one’s drawing his attention.”


Asian Leaders Eye EU-Style Bloc

October 24th, 2009

Via: BBC:

Asian leaders meeting in Thailand are discussing plans to “lead the world” by forming an EU-style community by 2015.

Japan’s Prime Minister Yukio Hatoyama argued nations should take advantage of the region’s more rapid recovery from the recession than the West.

“It would be meaningful for us to have the aspiration that East Asia is going to lead the world,” he said.

Leaders of the Association of Southeast Asian Nations (Asean) are meeting other regional heads at Cha-Am beach resort.

Increased integration

The community would involve the 10-members of Asean with regional partners China, Japan, South Korea, India, Australia and New Zealand, Japanese officials have said.

Officials said the East Asian nations would carry out a feasibility study for a huge free trade zone.

But there was debate at the summit over whether the community would also include the United States.

Increased integration has been a recurring theme of the meetings in Thailand, as the region seeks to capitalise on its recovery from financial turmoil.

On Friday, the leaders officially launched a new human rights watchdog.

Correspondents say the new commission is in part a response to criticism that the region is soft on human rights abuses by member nations such as Burma.

But observers have queried whether it will have sufficient powers to make a real difference.

Anti-government protesters forced the cancellation of the previous attempt to hold the summit in April.

Around 18,000 troops and dozens of armoured vehicles have been deployed to ensure this summit passes off smoothly – with another 18,000 on standby or on duty in Bangkok.


Dollar Rally Setting Up Near Term

October 24th, 2009

WARNING: This is not a recommendation to buy, sell or hold any financial instrument.

The U.S. Dollar Index is in a sharp downtrend, but it’s approaching an uptrending support line on the weekly chart. Additionally, multiple indicators on longer intraday intervals are trending up.

I’ve got to call bullish divergence on this one.

Dollar bears and gold bulls, watch out, over the next couple of weeks.

U.S. Dollar Index, Weekly Interval

U.S. Dollar Index, Weekly Interval

U.S. Dollar Index, Four Hour Interval

U.S. Dollar Index, Four Hour Interval

Update: More Ways of Looking at the Current Divergence Situation

In the chart below, I show additional divergence in ROC and Stochastic Slow, along with lower ADX pivot highs. Note the upside candle breakout.

It would be irresponsible of me to try to summarize ADX here for those who aren’t familiar with it. I’d encourage you to look into ADX and J. Welles Wilder’s other work for yourself in much more detail: New Concepts in Technical Trading Systems by J. Welles Wilder. While there are thousands of other sites on the Internet that discuss ADX for free, I wanted to cite THE source for those are are interested.

CRITICAL POINT TO REMEMBER: The reason we’re paying attention to divergence patterns in these faster intervals is because USDX is closing in on a critical support on the WEEKLY chart. However, because the weekly interval is relatively slow, we drill down into the faster (and noisier) intervals in an attempt to glean more timely insights.

U.S. Dollar Index, Eight Hour Interval

U.S. Dollar Index, Eight Hour Interval

UPDATE: Options Plays

SPECULATORS ONLY: The short term channel on the dollar remains bearish. If the bearish channel holds into Monday’s New York session, consider buying November 09 call options on PowerShares DB US Dollar Index Bullish (UUP). Any further moves down on the dollar (but above the mid 74s) make bullish option plays more attractive here, in my opinion.

November 09 puts on SPDR Gold Shares (GLD) would be another way of going.


Something Pleasant for the Weekend: Machinarium

October 24th, 2009

I don’t play many video games, but I indulge my childhood habit about once per year. Machinarium is a beautifully handcrafted little game by a tiny, independent Czech game company called Amanita Design.

Most of Machinarium involves solving puzzles that get progressively more difficult as you move through the screens. I actually wasn’t able to start the elevator platform on the outside of the building—you’ll know the point in the game that I’m referring to if you decide to play—and had to refer to the hints that are accessible from within the game. Needless to say, if you aren’t looking to spend some time solving fairly difficult, but elegantly implemented puzzles, take a pass on this one.

Not only is Machinarium a feast for the eyes, I don’t recall ever encountering a soundtrack for a game that I liked listening to on its own. (Well, it has been a couple of decades since I’ve done that. *blush*) The soundtrack (as MP3s) is included as part of the purchase price.

Machinarium, including the soundtrack files, costs US$20.

See: machinarium.net


Cryptogon Readers Send Contributions

October 24th, 2009

Thank you all very much.

MR $20
MW $20
DR NZ$50
DT $20
RR £20
ML CA$15
kitwatkins.com $50


FDIC Friday: Bank Failures Now 105 for 2009

October 23rd, 2009

Via: CNN:

The tally of bank failures easily broke past the No. 100 milestone on Friday night, with regulators announcing the year’s 105th closure.

That’s more than four times the number that were closed in 2008, and the highest total since 1992, when 181 banks failed.

Earlier on Friday evening the dubious honor of the 100th failure went to Partners Bank, of Naples, Fla., which had $65.5 million in assets, according to the Federal Deposit Insurance Corp.

The 101st failure was American United Bank, of Lawrenceville, Ga., which had $111 million in assets.

The 102nd failure was another Naples, Fla., institution: Hillcrest Bank Florida, which had $83 million in assets.

The 103rd closure was Bradenton, Fla.-based Flagship National Bank, with $190 million in assets.

The 104th was Bank of Elmwood, based in Racine, Wis., which had $327.4 million in assets.

The 105th failure was Riverview Community Bank of Otsego, Minn., with $108 million in assets.

Customers of all six banks are protected, however. The Federal Deposit Insurance Corp., which has insured bank deposits since the Great Depression, covers customer accounts up to $250,000. This is funded through premiums paid by member banks.

In fact, to reassure borrowers, FDIC chair Sheila Bair posted a video message to the agency’s Web site, saying “for the insured depositor, a bank failure is a non-event.”

Still, Bair cautioned that “until the healing process is complete, there will be more bank failures.”


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