World’s 50 Best Restaurants launches new drinking and dining guide NBA: Kawhi, George seek more for Clippers than beating Lakers PLAY LIST 01:48NBA: Kawhi, George seek more for Clippers than beating Lakers00:50Trending Articles00:50Trending Articles02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games LATEST STORIES Heart Evangelista admits she’s pregnant… with chicken Heart Evangelista admits she’s pregnant… with chicken 1 dead in Cavite blast, fire Ginebra gets its groove back WATCH: Firefighters rescue baby seal found in parking garage The former boss of the internet giant Microsoft bought the California franchise in 2014 for $2 billion and quickly said he wanted the Clippers to play in their own arena. The Clippers were eliminated in the first round of the 2017 NBA playoffs.Sports Related Videospowered by AdSparcRead Next Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ MOST READ The Los Angeles Clippers see action against the Utah Jazz in the first round of the Western Conference playoffs at the Staples Center in Los Angeles. GETTY IMAGES/AFP FILE PHOTOLOS ANGELES—The Los Angeles Clippers announced Thursday they are considering leaving Staples Center arena which they have shared with the Los Angeles Lakers and Los Angeles Kings since 1999.The Clippers reached an agreement with the city of Inglewood, California to look into building a new stadium in the suburbs, about 12 kilometers (eight miles) southwest of downtown Los Angeles.ADVERTISEMENT “I have said from day one that we need to plan for the future. This agreement helps us do that by expanding our options,” said Clippers owner Steve Ballmer.“The prospect of a new state-of-the-art NBA arena would allow us greater latitude to influence our game schedule, particularly as it relates to weekend games.”FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSMalditas save PH from shutoutBallmer said the Clippers hope to build a state of the art facility on 20 acres of land that would include an arena, training center and offices. It would be located across the street from the NFL Los Angeles Rams’ new stadium.But Ballmer said the Clippers would not be able to move before 2024, when their current lease with The Anschutz Corp. expires. Lacson: SEA Games fund put in foundation like ‘Napoles case’ What ‘missteps’? Don’t miss out on the latest news and information. View comments
TORONTO – Barrick Gold Corp. has reported a net loss of US$412 million for the third quarter, well below the US$99 million in net income expected by analysts, after taking a US$405 million impairment charge at a Peruvian mine.The Toronto-based company took the writedown at Lagunas Norte after results from a study on a type of ore treatment led it to shelving the treatment option.Adjusted net earnings for the quarter ending Sept. 30, however, amounted to US$89 million or eight cents per share, above the US$62.7 million or five cents per share expected by analysts, according to Thomson Reuters Eikon.The company reported a net loss of US$11 million for the third quarter last year, and an adjusted net income of US$200 million.Third quarter revenue totalled US$1.84 billion, in line with analyst expectations, but down from the US$2 billion it pulled in for the same quarter last year.In September, the company announced a proposed C$7.9-billion takeover of Randgold Resources that would firmly return its status as the world’s largest gold mining company.Companies in this story: (TSX:ABX)
SAN FRANCISCO – A Colorado jury likely threw cold water on future legal challenges against cannabis companies by homeowners who consider filing racketeering lawsuits alleging proximity to pot operations hurts their property values, analysts and industry lawyers said Thursday.A federal jury in Denver on Wednesday rejected claims involving the odour from a pot farm made in a case that was closely watched by the marijuana industry.It was the first such lawsuit to reach a jury. Three others are pending in California, Massachusetts and Oregon.“The big takeaway is that the verdict is likely to curb the enthusiasm for bringing these lawsuits in the future,” Vanderbilt University law professor Rob Mikos said.He said it’s easy to show marijuana companies are violating federal laws against pot, but the Colorado verdict shows the difficulty In proving actual harm.“There was a thought that this would be easy money,” Mikos said about such claims.Congress created the Racketeer Influenced and Corrupt Organizations Act — better known as RICO — to target the Mafia in the 1970s. It allowed prosecutors to argue that leaders of a criminal enterprise should pay a price along with lower-level defendants.The law also allows private parties to file lawsuits claiming their business or property has been damaged by a criminal enterprise. Those who can prove it can be financially compensated for damages plus attorneys’ expenses.Scott Schlager, a lawyer who filed a similar lawsuit against a Cambridge, Massachusetts, dispensary agreed with Mikos, saying racketeering lawsuits are expensive to litigate.“They shouldn’t be the next cottage industry,” he said. “There is a lot of uncertainty.”Schlager said the Denver verdict will have no effect on his case because the two legal actions have important differences.The Colorado plaintiffs complained that a farm’s odour lowered their property value by about $30,000.Schlager’s clients in Harvard Square argue that the stigma of a marijuana dispensary in the upscale business district lowered property values by $29 million.California attorney Ken Stratton, who represents a pot farmer being sued by eight homeowners near Petaluma, California, in the heart of wine country, said he was surprised the Denver case reached a jury.“I think we’ll see more and more of these knocked out before they go to trial,” Stratton said. “The racketeering law wasn’t meant to litigate land disputes.”He also predicted the Denver verdict will make other lawyers and disgruntled neighbours look elsewhere to settle their disputes with marijuana operations.He said showing that cannabis operations impact land prices is difficult, especially if the homeowners are speculating rather than arguing they lost money in actual sales.Emma Quinn-Judge, a Boston lawyer defending the Cambridge dispensary, agreed that showing harm is the biggest hurdle.“If you know anything about Cambridge home prices then you know that arguing their value has dropped $29 million is laughable,” she said.
The care Jeremy was last seen driving – RCMP UPDATE – The RCMP advise that Jeremy Ray has been found.BEAVERLODGE, A.B. – RCMP are seeking the public’s assistance to locate 37-year-old Jeremy Ray. Jeremy was last seen on July 29, 2019, and maybe headed to Fort St. John.Jeremy may be travelling in his 2007 black Honda Civic, AB plate: FUD 818.Jeremy is described as:Caucasian male6′, 220 lbs.Brown hair, blue eyesThere is a general concern for his wellbeing. If you have any information on the whereabouts of Jeremy Ray, please contact the Beaverlodge RCMP at 780-354-2485, or call your local police.If you wish to remain anonymous, you can contact Crime Stoppers at 1-800-222-8477 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store.
Kolkata: Kakoli Ghosh Dastidar, the outgoing Trinamool Congress MP from Barasat who is contesting the elections from the same seat for the third time, took out a massive road show in Barasat on Sunday morning in a bid to woo the voters.The road show, which was started from the Lokenath Temple on Barasat-Barrackpore Road, saw a huge surge of people as it went past various important places under her constituency. As the road show advanced, hundreds of Trinamool Congress supporters joined the rally, thereby contributing to the length of it. Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari PujaMany youths and girls clad in colourful dresses were seen marching down the lanes and by-lanes of Barasat. A dance troupe also participated in the campaign. People congregated in large numbers on both sides of the road to catch a glimpse of Ghosh and the beautifully decorated tableaus that took part in the election rally. Ghosh was seen making her vote appeal to the people gathered on the road and also to those found standing on the balconies of their houses situated on the road. Ghosh waved her hands at the voters who readily reciprocated the gesture. Also Read – Bengal civic volunteer dies in road mishap on national highwayGetting swayed by the response of the people, Ghosh later got down from the jeep and joined the dance group before the road show finally ended near Moyna area on Krishnanagar Road. In response to media questions, Ghosh said that Trinamool Congress candidates nominated by her party Supremo and Chief Minister Mamata Banerjee will win in all the 42 Lok Sabha seats in the state. “Mamata Banerjee is a great source of inspiration for me. She is doing very hard work while moving from place to place, setting examples for all of us. We should also toil hard taking lessons from her. Bengal has seen an unprecedented surge in development works ever since Banerjee became the Chief Minister,” Ghosh said. “All the 42 TMC candidates who are in the fray having the blessings of Mamata Banerjee, will come out victorious. We are getting tremendous response from the people who are extending their support to carry out the development works in the state,” Ghosh maintained. Reacting sharply to the comment of Special Observer Ajay V Nayak, she said: “It was a dark age for Bengal when the Left Front government used to rule the state. After becoming the Chief Minister, Banerjee restored the rule of law. Law and order situation is properly maintained here now and hence women can safely move from one place to another, even during late night.”
Netflix is searching for a new marketing boss after veteran chief marketing officer Leslie Kilgore was moved to non-executive director of the Netflix board.Jessie Becker, who was previously vice-president, marketing, will become chief marketing officer on an interim basis, while the company conducts an external search. Kilgore has been with Netflix for the last 12 years after previously having worked at Amazon and Proctor & Gamble.Separately, Netflix has promoted Jonathan Friedland as chief communications officer. Both Becker and Friedland report to Netflix chief executive Reed Hastings.
When my father-in-law died, my wife and I took over the responsibility of looking after her mother, who I affectionately called “grandma.” We quickly connected with a very nice lady who was a broker at one of the top brokerage firms in the country. Over time she became a mentor, advisor, and friend. Although she’s been retired for quite some time, we’re still in contact and are very close. If I were to pick one attribute that sets her apart, it would be honesty. Ask her a tough question and she’ll give you a straight answer, even though it may personally cost her some money. Around the time that many of the online discount brokerage firms were emerging, our nice lady broker put in a trade where we sold 1,000 shares of a stock at $24/share, so the trade was $24,000.00. When we got the transaction sheet in the mail, there were some small fees, but her firm took a $240 commission just for handling the transaction. I called and asked her how the firm justified those fees to its clients. We were being bombarded with television commercials, letters, and flyers from discount brokers who would handle the transaction for only $19.95. Basically, I asked her what the extra $220 in commissions bought us. She was very straightforward, and it was apparent I was not the first client to ask. She said that she cut the commission to rock bottom, meaning there was no lower fee structure available, and then went on to explain that discount brokers were merely transactional brokers with no research departments and no advice. They just processed transactions. By contrast, her firm had all these high-priced folks in New York who did tons of research and analysis and provided advice and guidance. I then (with her help) wrote a letter stating that I was toying with making an investment in a particular market but wasn’t quite sure if the sector made sense – and if it did, what particular stock would be the best choice? She took my letter, put her cover letter on top of it, and sent it to her firm’s gurus in New York. A short time later, we got back a 2-3 page report discussing the sector and recommending a particular company to invest in. They recommended it as a “strong buy.” It was also clear that the primary reason they felt that way was a chart showing that 8 of 10 major firms recommended the company as a “buy or strong buy.” Other than the standard information about growth, P/E ratios etc., there was really not a whole lot of support behind why the particular stock was supposedly so appealing. Honestly, I went nuts when I read the report, because simply saying that 8 of 10 major firms recommended something was not research. Actually, it was an admission of delegating the research to some other firm and then hoping it did it right. Perhaps that was why the P/E ratio was so ridiculously high; the investing guru Benjamin Graham would have been telling his clients to sell the same stock. So I asked our broker, “What happens if some researcher gets a tip from his barber on a stock, then he goes to the office and recommends it as a ‘buy.’ Then another firm picks up on it and also recommends it, and pretty soon 8 of 10 recommend it. That alone would drive up the price of the stock, but who actually did any research?” She grinned and mentioned something about the integrity of the individual doing the job. When I wrote the letter, I’d wanted someone to do the type of research Benjamin Graham discussed in The Intelligent Investor. I wanted them to find a stock that’s not on anyone else’s list with a P/E that was within reasonable guidelines. Heck, by the time 8 of 10 major firms have rated it as a “buy or strong buy,” it’s too late. At that point Graham and his clients would be taking their profits. In today’s lingo, the Casey group would have recommended you sell at least half of it and perhaps retain some of the investment as a “free ride.” Not long after that, our friend retired, and I switched the family accounts to a discount online broker. As I was surfing its website, I noticed a “Research” tab. I clicked on it and typed in the symbol of the stock, and up popped several available reports and a one-page summary. I realized then that what we got from the high-priced, old-line brokerage firm was not much different than the summary that had just popped up on my computer screen. Sad to say, some of the things that I’ve seen passed off as research are like sugar-free Jell-O topped with fat-free Cool Whip; it has the illusion of substance… but not much else. For the next several years, what little I had for research I did through the search engine of my online broker. It was boring, tedious, and time-consuming. Perhaps like some other investors, I wanted to find an easy way out. At that time I was subscribing to several investment newsletters that all touted their research and weren’t shy about making specific investment recommendations, something the discount brokers stayed away from at the time. Some did their job better than others. For close to a decade I didn’t use investment services because we had most of our portfolio in CDs. It wasn’t until late 2008, when we began to actively self-manage our portfolio, that we began to subscribe to various newsletters again. I quickly noticed that they seemed to be more highly specialized. The newsletters had true experts in a particular market sector or investment doing the research and making the recommendations. This isn’t meant to be a shameless plug, but I read a couple of the Casey newsletters like BIG GOLD, where there are folks on the ground, photos of the various mines, backgrounds, and where the author had known the principals for a couple decades. I was impressed. I’d never read any of this kind of stuff sifting through information from my discount broker, nor had I ever seen this level of detail from the so-called “full-service” brokers either. By comparison, I saw recommendations for companies I had never heard of and never saw references to any other firm or service making those recommendations. In a recent edition of The Intelligent Investor, there’s an article in the appendix section in which the author has tracked the career of five folks who were trained by Benjamin Graham. Each went out on his own, applied the techniques he was taught and over time put together a portfolio that made him and his clients very wealthy. However, there was almost zero overlap between those portfolios. Each had used the Graham criteria – but found his own recommendations. If 8 of 10 major firms recommended a given stock as a “buy or strong buy,” they all would have likely passed it over and moved on. The recent Facebook IPO certainly caused quite an uproar. Goldman Sachs handled the IPO, and according to several reports sold over a billion dollars in Facebook stock the first day. Shortly afterward, the news was full of stories that Facebook’s earnings were downgraded just before the offer and that information had been withheld from the general public. Only certain large clients and brokerage firms were made aware of that information. I personally no longer deal with a full-service broker, and I strongly recommend doing your own due diligence as opposed to blindly accepting any recommendation. For many years major firms would put a stock on a “strong buy” list, and the stock may jump 4-5 points simply because of that recommendation. My retired friend told me of cases where she knew that the firm making the recommendation had several million shares in its inventory. When it recommended the stock as a “strong buy,” it was taking the other half of the trade and making a nice profit. She said “theoretically” the SEC has put a stop to that. I recently learned that some financial research involves picks that are paid for by the companies being recommended. That’s not the case at Miller’s Money Forever, but until recently I was naïve enough to believe that all subscription-based financial newsletters were only compensated by their subscribers. How silly of me! It makes sense to do your due diligence on the companies you invest in. But you should also understand the motivations and incentives driving your gurus, your subscription financial-services providers, and your newsletter authors. I now find myself reading the small print at the end of the newsletter very closely. Any high-quality newsletter will clearly state its position on this issue. On the good side, a lot of data is now available at the click of a mouse on discount broker and other financial websites. Folks can also subscribe to excellent newsletters published by firms with large, competent research departments. This spreads the cost of expensive research departments over a large subscriber base, which in turn makes it much easier for the small investor to tap in to a huge base of investment knowledge. It is then up to us, the individual investor, to distill this information down to use with our individual portfolio. It’s easy to go along with the crowd, but true research can keep us ahead of the curve. Until next week…
By Daniel Jepson, Guest Contributor and Chris Wood, Senior Analyst In last week’s article on epigenetics, we began with a brief discussion of the enormous expectations that were placed on the Human Genome Project (HGP)—such as, that its results would lead to the end of disease—and how those expectations ultimately went unfulfilled because of course, things are never that simple. More importantly, in this case, genes are only part of the story. To quote briefly from that article: “Little did the community know at the time that the project [i.e., the HGP] would only uncover a small portion of what’s really going on in our genome. They were only scratching the surface. What the architects of that project once dismissed literally as junk surrounding our genes is proving far more vital than anyone ever expected—in fact, it may hold the very keys to understanding evolution itself. When scientists began the HGP, they were expecting to find approximately 100,000 protein-coding genes to account for the complexity of our species. What they found instead was that humans only have about 25,000, about the same number as fish and mice. In fact, according to biologist Dr. Michael Skinner, “the human genome is probably not as complex and doesn’t have as many genes as plants do.” That’s sort of a problem, because if we humans are supposed to be the complex species we hold ourselves out to be, then why don’t we have as many genes as an oak tree? Maybe because genes are only part of the story.“ That article went on to discuss how our epigenome—the second layer of structure above the genome, comprised of methyl groups and histones, that changes throughout our lives—can turn our genes on and off and control the degree to which they are expressed. Cool stuff—and a very important budding area of science. But today we’d like to bring the focus back to the genome itself, more specifically to a study of the genome called ENCODE. When the HGP was finished, all scientists really had was a linear sequence of three billion DNA base pairs—in essence, just a set of boring letters consisting of As, Gs, Cs, and Ts. What was needed was something to bring those letters to life and translate them into an instruction manual for actually building a person; then we’d be better able to understand the roots of disease and generate treatments. It happened on September 5, 2012. That was the day when one of the most ambitious international science projects you may have never heard of revealed the fruits of its labor: a collection of 30 papers simultaneously published in the journals Nature, Genome Research, and Genome Biology. Taken together, they provided the results from a multiyear research endeavor—involving over 400 scientists from 32 labs around the world—known as the ENCODE Project. ENCODE, or the “Encyclopedia of DNA Elements,” was designed to pick up where the HGP left off. It sought to annotate the specific regions of the genome that are used in the various cells of the human body and to catalogue the biochemical products of this activity. A key takeaway from the ENCODE project is that even though our genes only account for approximately 2% of our genome, the bulk of the rest of our DNA—which used to be called “junk DNA” because it was thought to serve no real purpose—actually performs crucial regulatory functions. Think of them as switches attached to a particular gene that determine whether or not it will be expressed. Scientists have long been aware of such DNA configurations, but thought their number was on par with the number of genes. It turns out, however, that there are millions of such regions throughout the genome, linked to each other (and to the protein-coding genes) in an extremely complicated hierarchical network. (The metaphor of a “hairball of wires” was offered by one ENCODE scientist.) But the goodies from ENCODE don’t stop there. “It was one of those too-good-to-be-true moments.” That’s what Ewan Birney, a biologist and leading scientist from the ENCODE project consortium, had to say about one of the insights gleaned by the efforts of his team. Back to the HGP for a moment. Much of the excitement that followed the project’s completion a decade ago had to do with the notion that since we now knew how the genome was “supposed” to look, we could identify the genes whose mutations were responsible for certain diseases and devise an appropriate remedy. As noted earlier, however, things aren’t that simple. Genes are only part of the story. We know that from the results of studies that were designed to correlate genetic mutations with specific diseases (known as Genome-Wide Association Studies, or GWAS). In the majority of cases, it was found that disease-correlated DNA variants lay in the vast noncoding regions of the genome, rather than in the genes themselves. With limited understanding of the actual functional processes performed by this DNA, science has been largely unable to come up with an appropriate remedy in situations where the original DNA message has been altered. But thanks to ENCODE, we may be on the way to overcoming this obstacle. A key finding from the project—the one that caught Birney’s attention—was that many of the mutations associated with disease are located in DNA regions to which the ENCODE project was able to assign a specific functionality. In particular, many mutations were found to be located in areas of our DNA known as “promoter” and “enhancer” regions—sequences that, while not coding for protein themselves, are responsible for turning genes on and off within a cell. “[This] is a really big deal,” said Bradley Bernstein, an ENCODE scientist. “I don’t think anyone predicted that [this] would be the case.” So now a whole host of new possibilities for gene therapy will begin to open up. When we can identify the biological processes in the cell that result from a mutation, it becomes much more likely that we can formulate an effective treatment. ENCODE has already identified several hundred regions of DNA that should be of interest to researchers studying specific diseases, and this number will only increase over the next few years as the huge amounts of data generated by the project continue to be analyzed. The project has also identified the function of many noncoding RNA molecules (i.e., RNA molecules other than messenger RNAs, which are an intermediate step in the creation of a protein). Casey Extraordinary Technology subscribers need no introduction to RNAi, an extremely exciting therapeutic technology that’s based on a particular type of noncoding RNA known as small interfering RNA (siRNA). But you may not have heard of a new approach that’s appeared on the scene in recent years: microRNA therapeutics. MicroRNA (miRNA) is a close cousin of siRNA, and its implications for the biotechnology landscape are no less significant. Since their discovery little more than a decade ago, these little molecules have already been widely implicated in the development of several types of cancer: some miRNAs are overexpressed in cancer cells, while others are missing entirely. Not surprisingly, there has been a widespread effort to leverage this insight into therapeutic remedies, and some miRNA-based products have already entered Phase II trials. As biotech investors, we must remember that tomorrow’s breakthroughs will result from events taking place around us today. In order to stay ahead of the market, we must be vigilant in identifying these causes before their effects have been fully brought to light. The ENCODE project, with its “too good to be true” moments, provides a good starting point. While it has received considerably less public fanfare than the Human Genome Project, for the alert investor it points the way toward a whole host of potential new breakthroughs. To stay up to date with all the fascinating new developments in the world of biotechnology, give Casey Extraordinary Technology a risk-free trial run today.
— A Young Woman on Her Way to Lunch… (What Happens Next Is UNBELIEVABLE) She was on her way to lunch… Walking down the street in plain daylight. And then… THIS happened. If you do one thing today, please take a look at this outrageous video. It’s unlike anything you’ve ever seen. Bill Editor’s note: When this $60 trillion credit bubble pops…it’ll be more devastating than anything America has ever seen. This crisis will not only hit stocks, but also your credit cards, checkbook, bank account…even the cash in your wallet. Watch Bill’s warning now to understand and protect yourself from this looming economic collapse. Find full details here. – Misbegotten Bubble We have been connecting dots; we want new readers to see what we see, so we can all look at some more dots together. Like everything else in economics and the markets, credit is cyclical. At the beginning of an expansion, people borrow more and more. Then, when they have borrowed too much, they cut back, they default, they trim their expenses… and they trim their debt. The expansion phase – like the bull market on Wall Street that usually accompanies it – is a happy time. People feel richer and smarter; they feel their hair grow and their private parts swell. Then comes a less happy time, full of blame and regret… “You should never have bought that boat,” says the nervous wife. “I told you we didn’t need that extra warehouse,” says the worried business partner. “I thought a degree would increase my income,” says the college graduate, as he takes your order. The EZ money is supposed to beget an asset boom… which is supposed to beget an economic boom… which is supposed to beget the wealth that will pay off the extravagant borrowing that the credit expansion begat. “Higher stock prices will boost consumer wealth and help increase confidence, which will also spur spending,” said an earnest, but perhaps dim, Ben Bernanke in 2010. “Increased spending will lead to higher incomes and profits that… will further support economic expansion.” Six years later, all we see is a misbegotten credit bubble and $60 trillion more, worldwide, of debt. To be continued… Regards, [Urgent] Read NOW if You’re on Social Security… or Soon Will Be Anyone who is dependent on a fixed income — like Social Security or a pension — is considered “high risk” for losing everything when the next currency crisis hits. That’s why Jim Rickards just released a new, never-before-seen book installment — and it might be the most important one yet. In fact, he personally has over $1 million invested in this new technique, in order to protect himself and his family. He strongly suggests that every American over the age of 55 do the same immediately. Even if it’s just a small amount to start. Click here now to claim your copy today before they’re gone. Editor’s note: We’re living on Planet Debt… As Agora founder Bill Bonner explained yesterday, as long as the “Deep State” is in control, this debt crisis will become more severe. Today, we’re sharing another valuable essay from Bill. Read on to learn why you’re at risk, even if you don’t own stocks…and why former Fed Chairman Alan Greenspan says gold is the solution to the problem… By Bill Bonner, editor, The Bill Bonner LetterUnder a gold standard, the amount of credit that an economy can support is determined by the economy’s tangible assets, since every credit instrument is ultimately a claim on some tangible asset. […] The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. — Alan Greenspan, 1966 That old rascal! Before joining the feds, former Fed chief Alan “Bubbles” Greenspan was a strong proponent of gold and the gold standard. He wrote clearly and forcefully about how it was necessary to restrain the Deep State and protect individual freedom. Then he went to Washington and faced a fork in the tongue. In one direction, lay honesty and integrity. In the other, lay power and glory. Faking It Under the Bretton Woods monetary system, the U.S. promised foreign central banks that it would convert their dollars to gold at a fixed price of $35 an ounce. This constrained the amount of dollars the U.S. could print to the amount of gold it had in its reserves. A smart man, Greenspan quickly realized he could not advocate for this old, tried-and-true gold standard and run the Deep State’s new credit money system. In 1987, he made his choice. He took over the top job at the Fed and faked it for the next 19 years. Since 1978, we have had four different Fed chiefs. Some were smart. Some were honest. Only Paul Volcker was smart and honest. Bernanke was honest… we believe. As near as we can tell, so is Janet Yellen. Both may mean well, but both are careful not to think out of the Deep State box. Alan Greenspan was smart. But he is a scalawag. He knew all along that the system was corrupt and self-serving. He had explained it in essays he’d written prior to joining the Fed. But he also knew he would never get his picture on the cover of TIME magazine if he told the truth. (In 1999, Greenspan eventually got his mug on the cover. The magazine pictured him alongside then Treasury secretary Robert Rubin and his deputy, Larry Summers, under the headline “The Committee to Save the World” for their handling of the Asian financial crisis.) It was power Greenspan wanted; he knew he would have to play the Deep State’s game to get it. Golden Period Now, Mr. Greenspan is 90 years old. Either he feels the cold downdraft of the beckoning grave… or he is simply forgetting to mumble. In an interview in the wake of Britain’s decision to end its membership of the European Union, he had this to say: If you look at human history, there are times where we thought that there was no inflation and everything was going fine. […] The oil prices have had a terrific impact on global inflation and [I] would not be surprised to see the next unexpected move to be on the inflation side. You don’t have it until it happens. The former Fed chairman says he believes another debt crisis is inevitable. He believes it will lead to high levels of inflation. His solution? Gold: Now if we went back on the gold standard and we adhered to the actual structure of the gold standard as it exists let’s say, prior to 1913, we’d be fine. Remember that the period 1870 to 1913 was one of the most aggressive periods economically that we’ve had in the U.S., and that was a golden period of the gold standard. The Fed’s minutes from its last meeting reveal no intention to return to the gold standard. Instead, the Fed’s central planners want their photos on TIME, too. They can’t give up their control of the nation’s money or risk a correction. It would be “prudent to wait for additional data” before raising rates, they say. Mr. Greenspan might have said so, too… perhaps with a hidden, sly smile on his face. Recommended Links
If you go to the hospital for medical treatment and scientists there decide to use your medical information to create a commercial product, are you owed anything as part of the bargain?That’s one of the questions that is emerging as researchers and product developers eagerly delve into digital data such as CT scans and electronic medical records, making artificial-intelligence products that are helping doctors to manage information and even to help them diagnose disease.This issue cropped up in 2016, when Google DeepMind decided to test an app that measures kidney health by gathering 1.6 million records from patients at the Royal Free Hospital in London. The British authorities found this broke patient privacy laws in the United Kingdom and put a stop to it.But the rules are different in the United States. The most notable cases have involved living tissue, but the legal arguments apply to medical data as well. One of the best examples dates back to 1976, when John Moore went to UCLA to be treated for hairy cell leukemia.Prof. Leslie Wolf, director of the Center for Health, Law and Society at the Georgia State University College of Law, says Moore’s doctors gave him good medical care, “but they also discovered there was something interesting about his cells and created a cell line from his cells without his knowledge,” she says.”And what complicated things even more is they asked Mr. Moore to travel down from his home in Seattle to L.A. multiple times, for seven years, to get additional cells without telling him they had this commercial interest in his cells.”Moore sued. In 1990, The California Supreme Court decided that he did not own his cells, but found his doctors had an obligation to inform him that his tissue was being used for commercial purposes and to give him a chance to object. Moore reached a settlement following his court battle, “but Mr. Moore certainly felt betrayed through the process,” Wolf says.The most famous case of this nature involves a Maryland woman, Henrietta Lacks. Back in 1951, doctors at the Johns Hopkins hospital in Baltimore collected cells from her cervical cancer and turned them into the world’s first immortal cell line, which grows perpetually in the lab and is used widely in research. As documented in Rebecca Skloot’s book and an HBO biopic starring Oprah Winfrey, the family learned only much later what had transpired and received no compensation. In 2013, the National Institutes of Health came to an agreement with her family guiding the use of her genetic information, but the family has continued to raise the issue.While those fights were about living tissue, “in a certain sense whether it’s cells or [digital] bits and bytes, it’s all information about an individual, at some level,” says Dr. Nabile Safdar, a radiologist at Emory University and author of a recent paper discussing the issue of patients’ rights as it pertains to their medical scans.This information is increasingly being used in research, and that in turn can easily end up being used to develop a commercial product that’s worth millions. Are the patients entitled to a cut?”That’s a question that I think we need to figure out,” Safdar says. “And if were a patient and my data were used to develop something that was being shared outside as a product, I’d want to know.”That’s not how it’s usually done. At many research hospitals, patients routinely sign a paper, in that huge stack of admission paperwork, giving permission for the institution to use their personal data for research.”For someone to sign away the rights in perpetuity for their data to be used for all possible research applications in the future, that’s something I think would deserve a lot of scrutiny, and that’s not something I would agree with,” Safdar says.Here’s a current example. Researchers at Johns Hopkins Medicine are mining years of CT scans that were performed initially to care for patients. Those patients signed a form saying it was okay to use that data for research. And the research has been approved by the university’s institutional review board, which is charged with weighing the ethics of research projects, says Dr. Karen Horton, director of radiology.Horton is now using some of this data to teach computers how to recognize pancreatic cancer. She says part of their agreement is that the data are stripped of all information that could identify an individual patient, “so there’s no [privacy] risk to a patient to have their images used to train the computer.”And Horton says technically, the data don’t belong to the patients. “Right now as the law defines it, your medical images are property of the health system,” she says. “You don’t own the image.”But Wolf, the law professor and ethicist at Georgia State, says she’s not sure that’s a strong argument. “Yes, they [the doctors] created the scans,” she says, “but certainly the patient has rights related to the scans,” such as the right to view them and of course to decide at the outset whether they can be used in research.It generally takes thousands of scans from many individuals to develop a commercial product, so no single person’s data is especially valuable on its own. Overall, Wolf says, patients don’t have much of a legal argument here, but there is an ethical issue.”My own concern is not that it is problematic per se,” she says. But, “I don’t think we’ve done a really good job of letting people know that this is in fact what we do with their data.”She cites lawsuits where blood samples that had been taken at birth ended up being used for research.”One of the moms in the case said if ‘I had been asked I think I would have said yes,’ but it was the sense of not even being asked, and having the data used,” Wolf says. “People generally will agree, but they want to be asked, at least at some level.”And Safdar says there are times when people might, indeed, want to object to how their data are being used.”There’s a wealth of information in a CT scan or an MRI,” Safdar says. Looking at features such as liver fat, artery clogs and brain atrophy, researchers might calculate a probability for how long that person is likely to live.These algorithms are generally called “black boxes,” because there’s no way to know how they reach their conclusions. And if the computer algorithm “spits out that you have two months to live, there are implications for employment, for insurability, for all kinds of things that impacts that person’s daily life,” Safdar says. “That worries me a little bit, especially when it’s not clear how that black box is making those decisions.”And what if the algorithm has actually baked in an unconscious prejudice of some sort, he asks, such as about race, age or sex? “When that same model, when trained [to work] on a specific group of people, is now applied to a totally different group of people, it could make totally erroneous decisions.”These issues are becoming more pressing as these AI-based products start coming to market.You can contact Richard Harris at email@example.com. Copyright 2018 NPR. To see more, visit http://www.npr.org/.
Subscribe Now New Jersey Voters Likely Just Approved Legalized Marijuana 3 min read Guest Writer Get 1 Year of Green Entrepreneur for $19.99 Phil Murphy, the Democratic nominee for governor, was emphatic about his commitment to legalizing marijuana. He won by a wide margin. November 16, 2017 New Jersey may have decided more than just the governor’s race in the election held this month. They have put the Garden State on the path to becoming the eighth U.S. state to allow recreational marijuana sales. As pointed out last month, a vote for Democrat Phil Murphy meant a vote for creating a state-regulated adult-use marijuana industry. During the campaign, Murphy promised to sign a bill creating a legalized marijuana market in New Jersey during his first 100 days in office. That bill already is moving through the state Legislature.And this hasn’t been a kind of, maybe sort of thing. Murphy has been clear about his intentions on marijuana.“The criminalization of marijuana has only served to clog our courts and cloud people’s futures, so we will legalize marijuana,” Murphy said after winning the Democratic primary earlier this year. “And while there are financial benefits, this is overwhelmingly about doing what is right and just.”Murphy won 56 percent of the vote, with 42 percent going to Republican Kim Guadagno.Related: Jeff Session’s ‘Guidance’ Cited by Maine’s Governor In His Veto of Legal Marijuana BillWhat happens nextMurphy will be inaugurated governor in January 2018. The bill legalizing recreational marijuana sales in New Jersey is still working through revisions in the state Legislature.The “within 100 days” promise actually originates with Senate President Stephen Sweeney. Sweeney, who controls which bills come before the full Senate, has vowed to have the bill before Murphy within the first 100 days of his administration.For his part, Murphy has said he will sign it. His argument is that criminalization of marijuana has destroyed many lives, particularly in minority communities. In the final debate before the election, he said New Jersey has the dubious honor of having “the widest white, non-white gap of persons incarcerated in America.”He blamed much of that on low-end drug crimes involving marijuana. On his website, Murphy also said that legalizing marijuana would free police to focus on more violent crimes.In all of this, Murphy is the polar opposite of his predecessor, Republican Gov. Chris Christie. Christie often railed against legalized marijuana. During the run-up to his bid for the Republican presidential nomination, he vowed to “crack down and not permit” legalized marijuana if elected president.Related: Cannabis Industry Rallies to Overcome Unique Legal Barriers to Recovery From Northern California FiresVirginia decriminalizationThe victory of Democrat Ralph Northam in the Virginia’s governor’s race also could lead to changes in that state’s marijuana laws. While stopping short of legalization, Northam has argued that possession of small amounts of marijuana should be decriminalized. He has addressed the issue from the standpoint of racial discrimination and the financial impact on the state.In a letter to the Virginia State Crime Commission sent earlier this year, Northam wrote that marijuana laws and enforcement have been “disproportionately harmful to communities of color.” He also noted the state spends $67 million on marijuana law enforcement, which he noted is enough to send 13,000 more kids to pre-K school.Follow dispensaries.com on Instagram to stay up to date on the latest cannabis news. dispensaries.com Add to Queue –shares Easy Search. Quality Finds. Your partner and digital portal for the cannabis community. Image credit: Eduardo Munoz Alvarez | Getty Images Cannabis Opinions expressed by Entrepreneur contributors are their own. Next Article Green Entrepreneur provides how-to guides, ideas and expert insights for entrepreneurs looking to start and grow a cannabis business.
Listen Now Guest Writer Delectable pastries and popular candies infused with marijuana are enormously popular wherever they are legal. Green Entrepreneur Podcast –shares April 19, 2018 Marijuana Edibles Make the List of Top 10 Food Trends This Year Next Article Each week hear inspiring stories of business owners who have taken the cannabis challenge and are now navigating the exciting but unpredictable Green Rush. Easy Search. Quality Finds. Your partner and digital portal for the cannabis community. 3 min read Add to Queue Cannabis Cannabis edibles cracked the list of top 10 food trends predicted for this year by a panel of experts writing for the Specialty Food Association.Marijuana edibles sits at eight on the list, amid other predicted trends such as:Plant-based food, including algae as a meat substituteFilipino cuisineGoth food, such as activated charcoal (heating coconut shells until they are carbonized)Shakshuka, grilled haloumi and other Middle Eastern foods that go beyond the now-ubiquitous hummus, pita and falafelCannabis edibles have a bright future as the panel of experts predicted “continued interest and acceptance in a host of snacks, treats and beverages with a little something extra.” That next trip to Trader Joe’s could become a lot more interesting.Related: Hemp Is the Multibillion-Dollar Cannabis Opportunity Few Have Heard AboutThe Rise of EdiblesThe effects of marijuana edibles tend to be stronger and longer lasting than smoking weed, which caused problems in early days with novice cannabis users. In its 2017 State of Cannabis report released earlier this year, California marijuana delivery company Eaze reported that edible sales have increased as more people learn best practices for proper dosing.Eaze, using information from a database of 350,000 customers and a survey of 15,000, reported that Generation Xers ordered the most edibles, followed by Generation Z, millennials and baby boomers. In another sign of the growing interest in edibles, a California company raised $6 million in funding to start an edibles production company in the Golden State. Plus Products will offer “cannabis-infused projects.”Related: John Boehner Succeeded in Politics Opposing Marijuana but in Retirement Has Joined the Medical Marijuana IndustryA Growing MarketBDS Analytics, which focuses on analysis of the legal cannabis industry, estimates the edible market at $669 million in four states alone: California, Colorado, Oregon and Washington. All four states have legalized marijuana for both recreational and medical use.About 40 percent of edible sales were from marijuana-infused candy, BDS reported, with 21 percent going to infused chocolate products.However, the popularity of various edibles varies state to state. In California, for instance, infused foods such as baklava, brownies and chocolate chip cookies are popular. That’s not the case in Colorado, BDS Analytics reports. There, candy sales were 49 percent of the edibles market. About 70 percent of the candy sales were gummies.For a look at the variety in edibles and anecdotal evidence of its growth, an instructive stop is Wana Brands. The leader in marijuana edibles in Colorado, the company is run by Nancy Whiteman, a 59-year-old entrepreneur and mother of two. Wana Brands earns millions selling sour gummies and “made from scratch” edibles and concentrates. It now sells its goods in Oregon, Nevada and Arizona.Gummies rule. They have them in mango, watermelon, blueberry, apple, grape, orange, pineapple, raspberry and strawberry flavors (among, believe it or not, others). They even produce Game Day Gummies for Denver Broncos fans.Only governments can slow the spread of edibles, BDS believes. They note: “It is laws, not consumer demand, that so far have held back worldwide expansion of commercial cannabis sales, and hence development of new consumption forms.”Related: How to Stand Out From the Crowd: Entrepreneurial Lessons from Jeff the 420 ChefFollow dispensaries.com on Instagram to stay up to date on the latest cannabis news. Opinions expressed by Entrepreneur contributors are their own. dispensaries.com Image credit: Israel_Patterson | Getty Images