Macklemore was involved in a scary head-on collision on Friday (July 28) in Langley, Washington, in which a pickup truck driver coming around a...
Reported by Billboard.com 3 hours ago.
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Macklemore Okay After Scary Head-On Car Crash: Report
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What Investors Can Learn From the Japanese Art of Kintsukuroi
*What Investors Can Learn From the Japanese Art of Kintsukuroi** **- What investors can learn from the Japanese art of Kintsukuroi or Kintsugi - art of repairing broken pottery with gold
- Investors and savers can protect their savings with gold*
*- Savers and investors are being punished by negative to low interest rates*
*- Global debt levels, stock bubbles and reduced liquidity will lead to crisis*
*- Reinforce cracks with gold prior to money pot shatters**Source: Wikimedia*
*Editor: Mark O'Byrne*
Kintsukuroi or Kintsugi is the Japanese art of repairing broken pottery with gold and silver.
The Japanese like to consider it a way of not only repairing the item but also transforming it into something new which is pristine and has a new potential.
For the philosphers in the art world they like to ask how can something of such beauty be created from a shattered vase or bowl?
Our politics, markets and economy are broken. With each passing day we see more evidence of a globalised, interconnected world that is also increasingly politically and financially fragmented.
In turn this is raising tensions between and within countries. Especially between the 'haves' and 'have nots.'
We have seen this before, many times in history, when the greed of mankind and his belief in infallibility leads us to believe we can perform unprecedented financial experiments. The more we push on with the experiments, rather than learning from history, the bigger the cracks and damage.
Jim Rogers recently expressed his disgust at banks’s claims that had they not acted as they had in response to the financial crisis then things would be worse.
Rogers disagrees, all they have done is papered over and widened the cracks… "propping up zombie banks and dead companies is not the way the world is supposed to work. ... It's been nine years and we have nothing to show for it [economically] except staggering amounts of debt.”
In order for Kintsugi to transpire the artist must ‘see’ a cracked pot differently. A new perspective has to be taken. The pot is not broken, it is not useless instead it is something which has potential to become stronger and better.
We must begin to look at our economy in a similar light. Our savings are not useless, in the same way our economic system is not useless.
But they are weak in their current state, they should be made stronger rather than forced to take on more pressure.
*The art of seeing differently*
Last week, came the news that global debt levels were 327% of world gross domestic product (GDP), at $217 trillion in the first quarter of 2017. We have added over $120 trillion since the financial crisis.
In the weeks before the world’s top money managers had rung the warning bell that this pot was ready to crumble. Marc Faber told CNBC that ‘everything’ is in a bubble with the risk that:
“One day this bubble will end,” and as a result people will lose 50% of their wealth.
Mohammed El Erian, part of the global financial elite but someone who we should all listen to, has also expressed similar concerns to Faber.
He wrote on Bloomberg that because of reduced liquidity resulting from simultaneous policy tightening by central banks, he has some serious doubts about the sustainability of the current overextended bull market in stocks.
Meanwhile Bill Gross believes markets in the US are at their highest risk levels post-2008 as investors are paying a high price for taking chances.
The low (and negative) interest rates of central banks are artificially driving up asset prices. This is creating little growth in the real economy and as a result is punishing individual savers and businesses.
Even those who are generally more concerned with individual wellbeing rather than the health of the global economy are now getting involved in firing warning shots.
Life guru Tony Robbins has warned that ‘the crash is coming’ both in a book and on a regular podcast.
He recently pointed to the falsehoods that we are all being told about the system, "We are in a really artificial situation. There is a new high, on average, every month. Feds around the world have been printing money.”
But, this is the world we live in. Should we wait and see how it plays out? Bury our heads in the sand?
Or, should we instead think about what we can do differently. How we can look at his situation and take a new perspective, give it some potential and extended future?
Like the art of kintsukuroi we may be able to give it a second chance, with gold.
*Gold is for everyone: Some are already filling the cracks with gold*
“The world breaks everyone, then some become strong at the broken places.” Ernest Hemingway
Countries around the world (including large nations such as Russia and China) are acquiring gold at an accelerated rate in order to diversify their reserve positions. When you consider the already substantial reserves in the US, Germany and the IMF, we may already be moving quietly towards a default gold standard.
There is a reason these countries and organisations are accumulating and/or holding onto gold. They know that when things take the inevitable turn for the worst, gold will alleviate the financial and monetary damage.
They know this because whilst their economic policies might not reflect any knowledge of history, history including the recent crisis shows them that gold has survived history because of it’s ability to hold value and act as a safe haven.
Unfortunately the chances of the majority of the world’s leaders realising how they can fix the cracks before they become breaks, are low.
But that doesn’t mean investors can’t embrace gold to fix the cracks that their finances and investments are exposed to.
As with the broken pots, gold just needs to be a small part of your portfolio.
A small allocation confers stability and insurance. Jim Rickards argues that the solution to the risks we are all exposed to is to allocate 10% of your portfolio to physical gold or silver:
‘That will be your insurance when the time comes.’
Whether it is 5%, 10% or 50%, gold should play a part in your portfolio to give it strength in the tough times that are no doubt ahead. Just one look at the table below (from guru Tony Robbins) and you can see how little an amount needs to go in, in order to fill the cracks and reduce volatility and enhance returns in a portfolio.
*All Seasons strategy via Ray Dalio via Tony Robbins*
You might ask why isn’t there a rush to gold if it’s the way to secure our portfolios? Only the smart money is diversifying into gold now - as was the case before the first financial crisis. Martin Armstrong of Armstrong Economics recently said:
‘Gold and the stock market will take off when people realize that government is in trouble. When they lose confidence, that is when they will start to pour into tangible assets.’
*Conclusion - Reinforce the financial cracks with gold*
Really kintsukuroi is about highlighting imperfections. Many reading this might ask why on earth one would want to highlight the imperfections in the banking system and the global financial system rather than just starting from scratch.
We don’t need to go so far as to lose our wealth in order to realise how we can protect ourselves.
There is no changing the damage that has been done. We cannot erase the past, only learn from it.
How do you learn from things? By remembering what has happened and by incorporating those lessons into every day life.
We can do that with gold. We can learn from the past mistakes and bring gold into our portfolios to protect and grow our wealth.
Gold has consistently proven itself in times of economic distress. Those who have benefited the most from this are the ones who bought their insurance and reinforced the cracks prior to the shattering crash.
*Source: Kate Ter Haar via Flickr*
*News and Commentary*
*Gold ends marginally lower but books solid +2.5% gain in July (MarketWatch.com)*
*U.S. Stocks Mixed, Dollar Gains as Treasuries Slip: Markets Wrap (Bloomberg.com)*
*LBMA shines a light on the gold in London’s vaults – 7,449 tonnes as of March 31 (Reuters.com)*
*Ex-NASA Agent Fears Gold Lunar Module Will Be Melted Down (Bloomberg.com)*
*Gold Logs Fourth Monthly Increase; US Mint Bullion Sales Bounce in July (CoinNews.net)*
*
U.S. Mint bullion sales improved greatly in July
*Revealed for the first time: How much gold is in London's vaults? (Telegraph.co.uk)*
*Millennials' wages devoured by their own beloved technologies (DavidMCWilliams.ie)*
*Peak Complacency as Recession Looms - Prepare (MauldinEconomics.com)*
*We Need Our $40 Trillion In Stolen Cash Back - Catherine Austin Fitts (Youtube.com)*
*Strategist Sees Gold Higher, Dollar Lower (video) (Bloomberg.com)*
*Gold Prices (LBMA AM)*
01 Aug: USD 1,267.05, GBP 957.76 & EUR 1,072.30 per ounce
31 Jul: USD 1,266.35, GBP 965.59 & EUR 1,079.06 per ounce
28 Jul: USD 1,259.60, GBP 961.96 & EUR 1,075.45 per ounce
27 Jul: USD 1,262.05, GBP 960.29 & EUR 1,076.53 per ounce
26 Jul: USD 1,245.40, GBP 956.72 & EUR 1,071.29 per ounce
25 Jul: USD 1,252.00, GBP 960.78 & EUR 1,074.59 per ounce
24 Jul: USD 1,255.85, GBP 962.99 & EUR 1,077.64 per ounce
*Silver Prices (LBMA)*
01 Aug: USD 16.74, GBP 12.67 & EUR 14.17 per ounce
31 Jul: USD 16.76, GBP 12.77 & EUR 14.29 per ounce
28 Jul: USD 16.56, GBP 12.66 & EUR 14.15 per ounce
27 Jul: USD 16.79, GBP 12.77 & EUR 14.34 per ounce
26 Jul: USD 16.37, GBP 12.54 & EUR 14.06 per ounce
25 Jul: USD 16.31, GBP 12.52 & EUR 14.00 per ounce
24 Jul: USD 16.50, GBP 12.66 & EUR 14.17 per ounce
*
Recent Market Updates*
*- Bitcoin, ICO Risk Versus Immutable Gold and Silver*
*- This Is Why Shrinkflation Is Making You Poor*
*- Gold A Good Store Of Value – Protect From $217 Trillion Global Debt Bubble*
*- Why Surging UK Household Debt Will Cause The Next Crisis*
*- Gold Seasonal Sweet Spot – August and September – Coming*
*- Commercial Property Market In Dublin Is Inflated and May Burst Again*
*- Gold Hedges Against Currency Devaluation and Cost Of Fuel, Food, Beer and Housing*
*- Millennials Can Punt On Bitcoin, Own Gold and Silver For Long Term*
*- “Time To Position In Gold Is Right Now” says Jim Rickards*
*- Bloomberg Silver Price Survey – Median 12 Month Forecast Of $20*
*- “Bigger Systemic Risk” Now Than 2008 – Bank of England*
*- “Financial Crisis” Coming By End Of 2018 – Prepare Urgently*
*- Video – “Gold Should Probably Be $5000” – CME Chairman*
*Important Guides*
For your perusal, below are our most popular guides in 2017:
*Essential Guide To Storing Gold In Switzerland*
*Essential Guide To Storing Gold In Singapore*
*Essential Guide to Tax Free Gold Sovereigns (UK)*
Please share our research with family, friends and colleagues who you think would benefit from being informed by it. Reported by Zero Hedge 3 hours ago.
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Two US Soldiers Injured in Helicopter Crash in Afghanistan
Reported by RIA Nov. 2 hours ago.
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Visualizing 10 Reasons For Caution
Authored by Lance Roberts via RealInvestmentAdvice.com,I know…I know…
There seems to be absolutely nothing that can derail the current bull market.
· Geopolitical conflict – NOPE
· Political intrigue – NOPE
· Fed Reserve reducing liquidity to the markets – NOPE
· Lack of expected tax cuts, reform, and infrastructure spending – NOPE, NOPE, and NOPE.
With markets near records, investors seem to have very little to worry about.
But maybe, it is the very fact that everything seems so ebullient that we should take a bit of a contrarian position. As I wrote previously:
*“*First, “record levels” of anything are records for a reason. *It is where the point where previous limits were reached. Therefore, when a ‘record level’ is reached, it is NOT THE BEGINNING, but rather an indication of the MATURITY of a cycle. *While the media has focused on employment, record stock market levels, etc. as a sign of an ongoing economic recovery, history suggests caution. The 4-panel chart below suggests that current levels should be a sign of caution rather than exuberance.”
However, while economic data suggests we may closer to the end of the current economic cycle than the beginning, data related specifically to the stock market may also be suggesting the same.
Let’s take a look:
-*1 – Confidence Levels at 107*-
The chart below a COMPOSITE confidence index consisting of both the University of Michigan and Conference Board indices. At 107, the index is currently at levels that have historically denoted the end of an economic cycle. (This should be expected as it is the point in the economic cycle where everything is now “as good as it gets.”)
-*2 – Bullish Sentiment Hits 126 – Greed Levels*-
The following chart is a composite sentiment index which includes the National Association Of Investment Managers Index, the American Association of Individual Investors and the VIX. Given the combined composite is pushing extreme levels, a bit more caution is likely well advised.
-*3 – Market Vane Bullish Sentiment: 64%*-
The Market Vane bullish sentiment index is a yardstick for traders as it measures the number of traders that are long a certain commodity. In this case the S&P 500 index. Currently, at 64%, as with the other indicators above, it is currently reflecting levels of bullishness that have historically been associated with corrective actions.
-*4 – CBOE’s equity volatility index (VIX) @ 9.79 — The S&P’s 65-day rolling volatility (inverted scale) is at levels which typically occur ahead of a corrective phase.*-
The volatility index shows the market’s expectation of 30-day volatility. It is constructed using the implied volatilities of a wide range of S&P 500 index options. This volatility is meant to be forward-looking, is calculated from both calls and puts, and is a widely used measure of market risk, often referred to as the “investor fear gauge.” When the gauge is at extremely low levels it suggests that investors have little fear of a market reversion. From a contrarian standpoint, this is when corrections have tended to occur.
I noted last week the record levels of short positions currently outstanding on the Volatility Index.
“The extreme net-short positioning on the volatility index suggests there will be a rapid unwinding of positions given the right catalyst. *As you will note, reversals of net-short VIX positioning has previously resulted in short to intermediate term declines.”*
*The chart below shows the 13-week moving average (65-day) of the volatility index versus the S&P 500. I have inverted the index to provide a clearer relationship between the two indices.* From a contrarian viewpoint, the index currently suggests the risk of a correction outweighs the potential for a further advance.
-*5 – 2-Year Forward P/E multiples: 17.67x S&P 500, 17.81x S&P 400, 18.86x S&P S&P 600 and 24.01x for Russell 2000. All are above long-term means and forward estimates are subject to large downward revisions. *-
Of course, valuations matter, even for Millennials:
“*Over any 30-year period the beginning valuation levels, the price you pay for your investments has a spectacular impact on future returns.* I have highlighted return levels at 7-12x earnings and 18-22x earnings. We will use the average of 10x and 20x earnings for our savings analysis.”
“As you will notice, 30-year forward returns are significantly higher on average when investing at 10x earnings as opposed to 20x earnings or where we are currently near 25x.
The point to be made here is simple and was precisely summed up by Warren Buffett:
*‘Price is what you pay. Value is what you get.’” *
-*6 – NYSE Put/Call Ratio: 0.94*-
One way to interpret the put-call ratio is to say that a higher ratio means it’s time to sell and a lower ratio means it’s time to buy. When the ratio is above 1.00 it suggests the market is out of balance to the sell side and equity exposure can be increased. *When the ratio is below 1.00 it suggests the market is out of balance to the buy side and investors should be more cautious. *
-*7 – The 14-week RSI (Relative Strength Index) has moved to 72.05, above the 70 level widely viewed as being an “overbought” threshold. *-
As shown, on a weekly basis there are only a few points where the markets have been this overbought on a weekly basis. *With the exception of the 2013-2014, during the $85-billion per month QE program, each previous occasion has triggered a short-term correction or worse. *
-*8 – The S&P 500 has now gapped up nearly 7% above its 200-day moving average, another sign of an overextended stock market.*-
As I have explained numerous times in the past, moving averages are like “gravity.” Prices can only move so far above the longer-term average before the gravitational force exerted causes prices to “revert to the mean.”
The problem, is these cyclical bull markets are quickly believed to be the beginning of the next secular multi-decade bull market. *However, as discussed previously, this is currently unlikely the case given the lack of economic dynamics required to foster such a secular period.*
The chart below brings this idea of reversion into a bit clearer focus. *I have overlaid the 3-year average annual real return of the S&P 500 against the inflation-adjusted price index itself. *
Historically, we find that when price extensions have exceeded a 12% deviation from the 3-year average return of the index, the majority of the market cycle had been completed. *While this analysis does NOT mean the market is set to crash, it does suggest that a reversion in returns is likely.* Unfortunately, the historical reversion in returns has often coincided at some juncture with a rather sharp decline in prices.
-*9 – Earnings expectations have significantly lagged market price action — in fact, according to S&P data, analyst EPS projections for 2017 have declined sharply from $121.09 to $117.20/share since the beginning of the year. *-
*While there is much hope that earnings will eventually play “catch up” to stock prices, there is a significant risk to that outcome.* As shown below, sales per share is roughly at the same level as it was in Q4-2012, but stock prices have risen by 65.7% during the same period. *With stock prices already “priced to perfection,” any shortfall will likely be problematic.*
-*10 – The S&P 500 has already climbed above year-end targets for well over half of the Wall Street strategists out there.*-
As I laid out at the beginning of this year in “The Problem With Forecasts”, even the most bullish analysts weren’t as optimistic as the market is now.
“Since optimism is what sells products, it is not surprising, *as we head into 2017, to see Wall Street’s average expectation ratcheted up another 9.43% this year.* Of course, comparing your portfolio to the market is a major mistake, to begin with.”
**Conclusion**
The problem is that since there is never an expectation the markets can go down, it is just that belief which eventually ensures an investor error.
*I recently did a very thorough study showing that even dollar cost averaging from current valuation levels is likely to be disappointing over the next few years.* To wit:
“So, with this understanding let me return once again to the young, Millennial saver, who is going to endeavor at saving their annual tax refund of $3000. The chart below shows $3000 invested annually into the S&P 500 inflation-adjusted, total return index at 10% compounded annually and both 10x and 20x valuation starting levels. *I have also shown $3000 saved annually in a mattress.”*
“I want you to take note of the point made that when investing your money when markets are above 20x earnings, *it was 22-years before it grew more than money stuffed in a mattress.”*
When I returned the study and my findings back to the media outlet, I immediately received a message back stating:
*“This is not a message that we want to project.” *
In other words, they wanted an article suggesting that Millennials should just *“buy everything.” *
*Maybe that is an indicator within itself.* Reported by Zero Hedge 2 hours ago.
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Huntingdon lorry bin driver due in court after Sawtry crash
Two refuse collectors suffered serious injuries when the lorry overturned on the southbound off slip road of the A1(M) at Sawtry
Reported by Ely News 2 hours ago.
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AC/DC Singer Brian Johnson Walks Away From Gnarly Silverstone Classic Car Crash Unscathed
Brian Johnson loves driving fast cars almost as much as he loved fronting AC/DC. But over the weekend the hard rock icon who split with the iconic...
Reported by Billboard.com 2 hours ago.
↧
Man taken to hospital after 'serious' car and motorbike crash
The road was shut for several hours while emergency services were at the scene
Reported by Sleaford Target 2 hours ago.
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Robert Kubica passes FIA extraction test before second Renault F1 test
Kubica on his 2017 F1 test: “One of the best days of my life”
Polish driver’s no-surrender mentality after a horrific crash continues to push him closer to an F1 race return
Robert Kubica has passed the FIA's mandatory Formula 1 extraction test, further boosting his chances of making a return to racing next year.
The Polish driver took the test, which ensures a driver can exit a car within 5.0sec and replace the steering wheel within 10.0sec, on Monday ahead of his second F1 test of 2017 with Renault, which will take place this Wednesday.
Kubica's pass ends speculation that his weaker right arm, injured in a serious rallying accident back in 2011, would hinder his ability to pass the test. Had he not passed, he wouldn't have been eligible for a return to F1 racing.
In an earlier F1 test in June - his first for six years - Kubica impressed Renault with strong pace and his ability to quickly adjust to the harsh environment of a top-level single seat racing car.
Before this, Kubica had competed in world rallying and tested a variety of other racing cars. He almost closed a deal to compete in the World Endurance Championship earlier this year, but it fell through in April, leaving his racing prospects in tatters.
It wasn't until his drive in a 2012-spec car, a Lotus E20 in current Renault livery, at the Circuit Ricardo Tormo, that rumours of a full-time grand prix comeback began to erupt.
*Fan support*
Kubica then drove the 2012 racer at the Goodwood Festival of Speed, where he was mobbed by fans eager to ask him about his comeback prospects. In the sanctuary of a Renault support truck in the Goodwood paddock, we asked him whether his fans should get their hopes up.
“They are getting over-optimistic,” the 32-year-old said through a smile. “I have been away from racing for more than six years. The key point of the Valencia test was to give me a good opportunity to test an F1 car, but also to see if I could do it or not.”
Kubica's last F1 appearance at the season-ending Abu Dhabi Grand Prix in 2010 ended a four-year stint in which he had cemented himself as one of the top drivers, with one win (in the 2008 Canadian Grand Prix) to his name.
Before the start of the 2011 season, Kubica sustained serious injuries to his right hand, arm and leg when he crashed his Skoda Fabia RS at a rally event in northern Italy. The result was a partial amputation of Kubica's forearm and his doctors doubted he would ever gain sufficient strength to drive an F1 car again.
“I heard it one thousand times and sometimes I started to believe it,” he said. “But it isn’t over until you say it is. If you give up, you will never recover, or you will never improve.”
Kubica has not recovered fully – his thinner, heavily scarred right arm is proof of that – but he has improved significantly. In six-and-a-half years, the Pole has gone from not knowing if he would ever be able to use his right arm again to completing 115 laps – the equivalent of a full grand prix weekend – in a 2012 F1 car. The car was adapted so all the controls and both gear shifters were on the left-hand side of the cockpit.
“I have to admit it was one of the best days of my life,” said Kubica, cradling his right arm, perhaps through habit. “It took away 80% of the doubt I had, but preparing for the test also cost me quite a lot of energy. I promised myself that once the test was over, I would go off for three days with no phone.”
Kubica hasn’t been idle in the six years since his accident. He was back in a rally car in late 2012 and won the World Rally Championship’s second-division title in 2013. Kubica stepped up to the WRC proper, driving a Ford Fiesta RS, but two years in rallying’s top flight didn’t yield many solid results and a lack of sponsorship forced him to curtail his activities in early 2016.
The lack of strength in his right arm didn’t prevent him from being competitive in a rally car, but the physical effort of racing for two hours in an F1 car appeared for some time to be beyond his capabilities.
“We have to be realistic. My state was very bad after the accident,” Kubica said. “Everybody sees me as a racing driver, but I am a human being. I wake up like everybody does. I have my better days and my worse days.”
All the while, he was working on his arm strength. Kubica explained that weeks would pass with little progress, but then rapid improvement could follow in a matter of days. He stayed focused by working a lot on mental stability, or, as he calls it, his “mental zone”.
His arm notwithstanding, Kubica believes he is in a better physical state than ever before, and he’s taking another look at circuit racing. Kubica has recently tested GP3 and Formula E cars, and showed good pace despite finding it difficult without power steering (unlike in F1, neither car is equipped with it).
However, going head to head with Lewis Hamilton, Fernando Alonso and Sebastian Vettel requires more than just good pace.
“F1 is tough and I have been away from racing for a long time,” Kubica said. “I don’t want to risk going racing when I’m not ready for a couple of races and then have a setback.”
Kubica will only consider an offer of an F1 drive if all the circumstances are right: the car, the team and, most importantly, his health. “I am not 18 any more. I’m not a rookie that wants every chance to race in F1. I only want to be in F1 if I’m 100% sure I am capable of doing the job. This is the target, although I don’t know if I will have the opportunity.”
There’s no certainty about a Kubica return, but Renault has been impressed enough to offer him the second test. The fans want him back, but how highly does he rate his own chances of racing in F1 again? “Because I am very realistic and keeping my feet on the ground, I’d put it at 80-90%.” His followers will like the sound of those chances. Reported by Autocar 30 minutes ago.
Polish driver’s no-surrender mentality after a horrific crash continues to push him closer to an F1 race return
Robert Kubica has passed the FIA's mandatory Formula 1 extraction test, further boosting his chances of making a return to racing next year.
The Polish driver took the test, which ensures a driver can exit a car within 5.0sec and replace the steering wheel within 10.0sec, on Monday ahead of his second F1 test of 2017 with Renault, which will take place this Wednesday.
Kubica's pass ends speculation that his weaker right arm, injured in a serious rallying accident back in 2011, would hinder his ability to pass the test. Had he not passed, he wouldn't have been eligible for a return to F1 racing.
In an earlier F1 test in June - his first for six years - Kubica impressed Renault with strong pace and his ability to quickly adjust to the harsh environment of a top-level single seat racing car.
Before this, Kubica had competed in world rallying and tested a variety of other racing cars. He almost closed a deal to compete in the World Endurance Championship earlier this year, but it fell through in April, leaving his racing prospects in tatters.
It wasn't until his drive in a 2012-spec car, a Lotus E20 in current Renault livery, at the Circuit Ricardo Tormo, that rumours of a full-time grand prix comeback began to erupt.
*Fan support*
Kubica then drove the 2012 racer at the Goodwood Festival of Speed, where he was mobbed by fans eager to ask him about his comeback prospects. In the sanctuary of a Renault support truck in the Goodwood paddock, we asked him whether his fans should get their hopes up.
“They are getting over-optimistic,” the 32-year-old said through a smile. “I have been away from racing for more than six years. The key point of the Valencia test was to give me a good opportunity to test an F1 car, but also to see if I could do it or not.”
Kubica's last F1 appearance at the season-ending Abu Dhabi Grand Prix in 2010 ended a four-year stint in which he had cemented himself as one of the top drivers, with one win (in the 2008 Canadian Grand Prix) to his name.
Before the start of the 2011 season, Kubica sustained serious injuries to his right hand, arm and leg when he crashed his Skoda Fabia RS at a rally event in northern Italy. The result was a partial amputation of Kubica's forearm and his doctors doubted he would ever gain sufficient strength to drive an F1 car again.
“I heard it one thousand times and sometimes I started to believe it,” he said. “But it isn’t over until you say it is. If you give up, you will never recover, or you will never improve.”
Kubica has not recovered fully – his thinner, heavily scarred right arm is proof of that – but he has improved significantly. In six-and-a-half years, the Pole has gone from not knowing if he would ever be able to use his right arm again to completing 115 laps – the equivalent of a full grand prix weekend – in a 2012 F1 car. The car was adapted so all the controls and both gear shifters were on the left-hand side of the cockpit.
“I have to admit it was one of the best days of my life,” said Kubica, cradling his right arm, perhaps through habit. “It took away 80% of the doubt I had, but preparing for the test also cost me quite a lot of energy. I promised myself that once the test was over, I would go off for three days with no phone.”
Kubica hasn’t been idle in the six years since his accident. He was back in a rally car in late 2012 and won the World Rally Championship’s second-division title in 2013. Kubica stepped up to the WRC proper, driving a Ford Fiesta RS, but two years in rallying’s top flight didn’t yield many solid results and a lack of sponsorship forced him to curtail his activities in early 2016.
The lack of strength in his right arm didn’t prevent him from being competitive in a rally car, but the physical effort of racing for two hours in an F1 car appeared for some time to be beyond his capabilities.
“We have to be realistic. My state was very bad after the accident,” Kubica said. “Everybody sees me as a racing driver, but I am a human being. I wake up like everybody does. I have my better days and my worse days.”
All the while, he was working on his arm strength. Kubica explained that weeks would pass with little progress, but then rapid improvement could follow in a matter of days. He stayed focused by working a lot on mental stability, or, as he calls it, his “mental zone”.
His arm notwithstanding, Kubica believes he is in a better physical state than ever before, and he’s taking another look at circuit racing. Kubica has recently tested GP3 and Formula E cars, and showed good pace despite finding it difficult without power steering (unlike in F1, neither car is equipped with it).
However, going head to head with Lewis Hamilton, Fernando Alonso and Sebastian Vettel requires more than just good pace.
“F1 is tough and I have been away from racing for a long time,” Kubica said. “I don’t want to risk going racing when I’m not ready for a couple of races and then have a setback.”
Kubica will only consider an offer of an F1 drive if all the circumstances are right: the car, the team and, most importantly, his health. “I am not 18 any more. I’m not a rookie that wants every chance to race in F1. I only want to be in F1 if I’m 100% sure I am capable of doing the job. This is the target, although I don’t know if I will have the opportunity.”
There’s no certainty about a Kubica return, but Renault has been impressed enough to offer him the second test. The fans want him back, but how highly does he rate his own chances of racing in F1 again? “Because I am very realistic and keeping my feet on the ground, I’d put it at 80-90%.” His followers will like the sound of those chances. Reported by Autocar 30 minutes ago.
↧
Robert Kubica passes FIA extraction test before second Renault F1 drive
Kubica on his 2017 F1 test: “One of the best days of my life”
Polish driver’s no-surrender mentality after a horrific crash continues to push him closer to an F1 race return
Robert Kubica has passed the FIA's mandatory Formula 1 extraction test, further boosting his chances of making a return to racing next year.
The Polish driver took the test, which ensures a driver can exit a car within 5sec and replace the steering wheel within 10sec, on Monday, ahead of his second F1 test of 2017 with Renault, which will take place this Wednesday.
Kubica's pass ends speculation that his weaker right arm, injured in a serious rallying accident back in 2011, would hinder his ability to pass the test. Had he not passed, he wouldn't be eligible for a return to F1 racing.
In an earlier F1 test in June - his first for six years - Kubica impressed Renault with strong pace and his ability to quickly adjust to the harsh environment of a top-level single seater racer.
Before this, Kubica had competed in world rallying and tested a variety of other racing cars. He almost closed a deal to compete in the World Endurance Championship earlier this year, but it fell through in April, leaving his racing prospects in tatters. It wasn't until his drive in a 2012-spec car, a Lotus E20 wearing Renault F1 livery, at the Circuit de Valencia that rumours of a full-time grand prix comeback began to erupt.
*Fan support*
Kubica then drove the 2012 racer at the Goodwood Festival of Speed, where he was mobbed by fans eager to ask him about his comeback prospects. In the sanctuary of a Renault support truck in the Goodwood paddock, we asked him whether his fans should get their hopes up.
“They are getting over-optimistic,” the 32-year-old said through a smile. “I have been away from racing for more than six years. The key point of the Valencia test was to give me a good opportunity to test an F1 car, but also to see if I could do it or not.”
Kubica's last F1 appearance at the season-ending Abu Dhabi Grand Prix in 2010 ended a four-year stint in which he had cemented himself as one of the top drivers, with one win (in the 2008 Canadian Grand Prix) to his name.
Before the start of the 2011 season, Kubica sustained serious injuries to his right hand, arm and leg when he crashed his Skoda Fabia RS at a rally event in northern Italy. The result was a partial amputation of Kubica's forearm and his doctors doubted he would ever gain sufficient strength to drive an F1 car again.
“I heard it one thousand times and sometimes I started to believe it,” he said. “But it isn’t over until you say it is. If you give up, you will never recover, or you will never improve.”
Kubica has not recovered fully – his thinner, heavily scarred right arm is proof of that – but he has improved significantly. In six-and-a-half years, the Pole has gone from not knowing if he would ever be able to use his right arm again to completing 115 laps – the equivalent of a full grand prix weekend – in a 2012 F1 car. The car was adapted so all the controls and both gear shifters were on the left-hand side of the cockpit.
“I have to admit it was one of the best days of my life,” said Kubica, cradling his right arm, perhaps through habit. “It took away 80% of the doubt I had, but preparing for the test also cost me quite a lot of energy. I promised myself that once the test was over, I would go off for three days with no phone.”
Kubica hasn’t been idle in the six years since his accident. He was back in a rally car in late 2012 and won the World Rally Championship’s second-division title in 2013. Kubica stepped up to the WRC proper, driving a Ford Fiesta RS, but two years in rallying’s top flight didn’t yield many solid results and a lack of sponsorship forced him to curtail his activities in early 2016.
The lack of strength in his right arm didn’t prevent him from being competitive in a rally car, but the physical effort of racing for two hours in an F1 car appeared for some time to be beyond his capabilities.
“We have to be realistic. My state was very bad after the accident,” Kubica said. “Everybody sees me as a racing driver, but I am a human being. I wake up like everybody does. I have my better days and my worse days.”
All the while, he was working on his arm strength. Kubica explained that weeks would pass with little progress, but then rapid improvement could follow in a matter of days. He stayed focused by working a lot on mental stability, or, as he calls it, his “mental zone”.
His arm notwithstanding, Kubica believes he is in a better physical state than ever before, and he’s taking another look at circuit racing. Kubica has recently tested GP3 and Formula E cars, and showed good pace despite finding it difficult without power steering (unlike in F1, neither car is equipped with it).
However, going head to head with Lewis Hamilton, Fernando Alonso and Sebastian Vettel requires more than just good pace.
“F1 is tough and I have been away from racing for a long time,” Kubica said. “I don’t want to risk going racing when I’m not ready for a couple of races and then have a setback.”
Kubica will only consider an offer of an F1 drive if all the circumstances are right: the car, the team and, most importantly, his health. “I am not 18 any more. I’m not a rookie that wants every chance to race in F1. I only want to be in F1 if I’m 100% sure I am capable of doing the job. This is the target, although I don’t know if I will have the opportunity.”
There’s no certainty about a Kubica return, but Renault has been impressed enough to offer him the second test. The fans want him back, but how highly does he rate his own chances of racing in F1 again? “Because I am very realistic and keeping my feet on the ground, I’d put it at 80-90%.” His followers will like the sound of those chances. Reported by Autocar 1 hour ago.
Polish driver’s no-surrender mentality after a horrific crash continues to push him closer to an F1 race return
Robert Kubica has passed the FIA's mandatory Formula 1 extraction test, further boosting his chances of making a return to racing next year.
The Polish driver took the test, which ensures a driver can exit a car within 5sec and replace the steering wheel within 10sec, on Monday, ahead of his second F1 test of 2017 with Renault, which will take place this Wednesday.
Kubica's pass ends speculation that his weaker right arm, injured in a serious rallying accident back in 2011, would hinder his ability to pass the test. Had he not passed, he wouldn't be eligible for a return to F1 racing.
In an earlier F1 test in June - his first for six years - Kubica impressed Renault with strong pace and his ability to quickly adjust to the harsh environment of a top-level single seater racer.
Before this, Kubica had competed in world rallying and tested a variety of other racing cars. He almost closed a deal to compete in the World Endurance Championship earlier this year, but it fell through in April, leaving his racing prospects in tatters. It wasn't until his drive in a 2012-spec car, a Lotus E20 wearing Renault F1 livery, at the Circuit de Valencia that rumours of a full-time grand prix comeback began to erupt.
*Fan support*
Kubica then drove the 2012 racer at the Goodwood Festival of Speed, where he was mobbed by fans eager to ask him about his comeback prospects. In the sanctuary of a Renault support truck in the Goodwood paddock, we asked him whether his fans should get their hopes up.
“They are getting over-optimistic,” the 32-year-old said through a smile. “I have been away from racing for more than six years. The key point of the Valencia test was to give me a good opportunity to test an F1 car, but also to see if I could do it or not.”
Kubica's last F1 appearance at the season-ending Abu Dhabi Grand Prix in 2010 ended a four-year stint in which he had cemented himself as one of the top drivers, with one win (in the 2008 Canadian Grand Prix) to his name.
Before the start of the 2011 season, Kubica sustained serious injuries to his right hand, arm and leg when he crashed his Skoda Fabia RS at a rally event in northern Italy. The result was a partial amputation of Kubica's forearm and his doctors doubted he would ever gain sufficient strength to drive an F1 car again.
“I heard it one thousand times and sometimes I started to believe it,” he said. “But it isn’t over until you say it is. If you give up, you will never recover, or you will never improve.”
Kubica has not recovered fully – his thinner, heavily scarred right arm is proof of that – but he has improved significantly. In six-and-a-half years, the Pole has gone from not knowing if he would ever be able to use his right arm again to completing 115 laps – the equivalent of a full grand prix weekend – in a 2012 F1 car. The car was adapted so all the controls and both gear shifters were on the left-hand side of the cockpit.
“I have to admit it was one of the best days of my life,” said Kubica, cradling his right arm, perhaps through habit. “It took away 80% of the doubt I had, but preparing for the test also cost me quite a lot of energy. I promised myself that once the test was over, I would go off for three days with no phone.”
Kubica hasn’t been idle in the six years since his accident. He was back in a rally car in late 2012 and won the World Rally Championship’s second-division title in 2013. Kubica stepped up to the WRC proper, driving a Ford Fiesta RS, but two years in rallying’s top flight didn’t yield many solid results and a lack of sponsorship forced him to curtail his activities in early 2016.
The lack of strength in his right arm didn’t prevent him from being competitive in a rally car, but the physical effort of racing for two hours in an F1 car appeared for some time to be beyond his capabilities.
“We have to be realistic. My state was very bad after the accident,” Kubica said. “Everybody sees me as a racing driver, but I am a human being. I wake up like everybody does. I have my better days and my worse days.”
All the while, he was working on his arm strength. Kubica explained that weeks would pass with little progress, but then rapid improvement could follow in a matter of days. He stayed focused by working a lot on mental stability, or, as he calls it, his “mental zone”.
His arm notwithstanding, Kubica believes he is in a better physical state than ever before, and he’s taking another look at circuit racing. Kubica has recently tested GP3 and Formula E cars, and showed good pace despite finding it difficult without power steering (unlike in F1, neither car is equipped with it).
However, going head to head with Lewis Hamilton, Fernando Alonso and Sebastian Vettel requires more than just good pace.
“F1 is tough and I have been away from racing for a long time,” Kubica said. “I don’t want to risk going racing when I’m not ready for a couple of races and then have a setback.”
Kubica will only consider an offer of an F1 drive if all the circumstances are right: the car, the team and, most importantly, his health. “I am not 18 any more. I’m not a rookie that wants every chance to race in F1. I only want to be in F1 if I’m 100% sure I am capable of doing the job. This is the target, although I don’t know if I will have the opportunity.”
There’s no certainty about a Kubica return, but Renault has been impressed enough to offer him the second test. The fans want him back, but how highly does he rate his own chances of racing in F1 again? “Because I am very realistic and keeping my feet on the ground, I’d put it at 80-90%.” His followers will like the sound of those chances. Reported by Autocar 1 hour ago.
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The Last Time Stocks Were This Expensive Was… March 2000
Over 99% of investors continue to live in delusion.That delusion is that stocks are NOT in a bubble.
They are. In fact, it’s arguably about to become the biggest stock bubble in history.
According to John Hussman, stocks have been more expensive based on median valuations only ONCE before in history.
That was the week of March 24 2000… right around the absolute PEAK of the Tech Bubble.
Here’s Hussman’s chart:
*Here’s what came next for stocks…*
*
*
A Crash is coming…
And smart investors will use it to make literal fortunes from it.
We offer a FREE investment report outlining when the market will collapse as well as what investments will pay out massive returns to investors when this happens. It’s called *Stock Market Crash Survival Guide.*
Today is the last day this report is available to the public.
We extended this offer by one week based on the market's extreme valuation.
But this is it. No more extensions.
To pick up one of the last remaining copies…
*CLICK HERE!*
Best Regards
Graham Summers
Chief Market Strategist
Phoenix Capital Research Reported by Zero Hedge 52 minutes ago.
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Charges laid after pedestrian struck and killed downtown
A 25-year-old man has been charged in connection to a crash in downtown Toronto Monday where a 73-year-old man was killed and a 49-year-old man was seriously hurt.
Reported by CP24 54 minutes ago.
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Man charged in crash that killed motorcyclist
Man charged in crash that killed motorcyclist in Thunder Bay, Ont., area
Reported by TheSpec.com 21 minutes ago.
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Crash Bandicoot shows us how classic games should be resurrected
Reported by TechRadar 34 minutes ago.
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'My breast implants burst open in five-car pile-up'
Becky Bitchenor was in hospital for nearly two weeks after suffering injuries in the crash
Reported by Gloucester Citizen 46 minutes ago.
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GM Auto Sales Crash, Dealer Inventory Near All Time High
It was expected to be a bad quarter for General Motors. It ended up being abysmal.GM reported that July auto sales crashed by a whopping 15%, nearly double Wall Street's already depressed expectations of a 8% drop, and with GM mothballing production across the country to catch up with lagging demand, it still sold only 226,107 vehicles as a result of double digits drops in Chevy, Build and Cadillac Sales of 15.3%, -30.5% and -21.7%, respectively. The only "good" performer was GMC, which dropped by "only" 7.3% Y/Y.
The company also reported that while the average transaction price was $36,000, or roughly $1,000 higher than a year ago, the incentive spending as a percentage of average transaction prices was 11.5%, near an all time high.
This is how the company explained this dramatic decline in production:
*“We have strategically decided to reduce car production rather than increase incentive spending or dump vehicles into daily rental fleets, like some of our competitors,” *Kurt McNeil, U.S. vice president of Sales Operations, says in a statement.
Which would be great, however judging by the almost negligible drop in dealer inventory, which saw the number of cars parked at dealer lots decline by just 40K to 939,831, resulting in a near record 104 days of sales, it appears that GM needs to shutter production for months on end to normalize GM's unprecedented channel stuffing.
Abysmal sales aside, however, the company remains quite optimistic: *"Under the current economic conditions, we anticipate the second half of 2017 will be much stronger than the first half," *Mustafa Mohatarem, GM chief economist says. Good luck with that anticipation chief GM economist.
And speaking of GM's "competitors", it wasn't any better there, with Chrysler reporting a July auto sales drop of -10.5%, also far below the 6.1% expected.
· Fiat brand -18%
· Chrysler brand -30%
· Jeep brand -12%
· Dodge brand -12%
· Ram brand sales were flat y/y
· Fleet sales -35%
At this rate, the US auto sector could become the catalyst that finally tips the US economy over into recession. Reported by Zero Hedge 52 minutes ago.
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Xi pays tribute to marshals of China’s Communist revolution – except one
When President Xi Jinping paid tribute to Communist revolutionary marshals at an event marking the 90th anniversary of the PLA on Tuesday, he skipped a key name – Lin Biao. Lin, who played a pivotal role in toppling the Kuomintang regime during the civil war in 1949, had been heir apparent to late chairman Mao Zedong before their relations soured in the early 1970s. Shock waves from Lin Biao plane crash still echo in lead-up to Chinese Communist Party leadership reshuffle The Chinese...
Reported by S.China Morning Post 48 minutes ago.
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Pillion passenger killed in A939 crash named
BBC Local News: North-East Scotland and Northern Isles -- The 69-year-old woman from Brazil was a pillion passenger on a BMW motorbike when the crash happened near Tomintoul.
Reported by BBC Local News 32 minutes ago.
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Police identify 2 killed in highway crash
Police identify 2 killed in 6-vehicle crash on Highway 401 near Chatham, Ont.
Reported by TheSpec.com 21 minutes ago.
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Man cut free after Tamworth two-car smash
A MAN has been cut free by firefighters after a two-car smash in Tamworth.Crews from the Staffordshire Fire Service and the West Midlands Ambulance Service swooped on Glascote Road following reports of a two-car crash – which left one man medically trapped.A spokesperson for the service confirmed they attended the scene where they have treated two patients. He said: "We were called to Glascote Road at 2.31pm today (August 1) following reports of a two-car road traffic...
Reported by Tamworth Herald 10 minutes ago.
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NASA has a job opening for someone to defend Earth from aliens — and it pays a six-figure salary
· *NASA is hiring a planetary protection officer with a salary of up to $187,000.*· *The job was created after the signing of the Outer Space Treaty of 1967.*
· *Planetary protection officers are hired to make sure humans don't contaminate planets, moons, and other objects in space.*
· *They're also supposed to help prevent any alien microbes that might exist from spreading to Earth.*
US government scientists work hard to protect the public.
Some researchers study infectious diseases and effective treatments. Others ensure that drugs, food, vehicles, or consumer products live up to their claims and don't harm anyone.
But the concerns over at NASA headquarters are, quite literally, extraterrestrial — which is why the space agency now has a job opening for "planetary protection officer."
The gig? Help defend planet Earth from alien contamination, and also help Earth not contaminate alien worlds that it's trying to explore.
The pay? A six-figure salary ranging from $124,406 to $187,000 per year, plus benefits, for three to five years.
*A rare and cosmically important position*
While many space agencies hire planetary protection officers, they're often shared or part-time roles.
In fact, only two such full-time roles exist in the world: One at NASA and the other at the European Space Agency.
That's according to Catharine A. Conley, NASA's current and sole planetary protection officer, whom Business Insider has interviewed a couple of times, most recently in March. (Conley and NASA did not immediately respond to our latest questions about her employment status and the open position.)
The job was created after the US signed and ratified the Outer Space Treaty of 1967, and it specifically relates to article IX of the document:
"States Parties to the Treaty shall pursue studies of outer space, including the moon and other celestial bodies, and conduct exploration of them so as to avoid their harmful contamination and also adverse changes in the environment of the Earth resulting from the introduction of extraterrestrial matter and, where necessary, shall adopt appropriate measures for this purpose."
As part of the international agreement's creation, its makers decided that any space mission must have less than a 1-in-10,000 chance of contaminating an alien world.
"It's a moderate level," Conley previously said. "It's not extremely careful, but it's not extremely lax."
This is why NASA's planetary protection officer occasionally gets to travel to space centers around the world and analyze planet-bound robots. The officer helps ensure that we don't accidentally contaminate a pristine world that a probe is landing on or, more often, is zooming by and taking pictures of.
For example, Congress and the president have green-lighted NASA to explore Europa: an icy, ocean-hiding, and potentially habitable moon of Jupiter. The goal of the initial $2.7 billion Europa Clipper mission is not to land on the moon, though, but to map its surface and look for clues about its hidden ocean and habitability.
Still, there's a chance the robot could crash-land — and that's where someone like Conley comes in to mitigate risk.
The concern also works the other way, most imminently for Mars.
The red planet is a frequent target for NASA because it's oddly similar to Earth. It may have once been covered in water and able to support life, which is why many scientists are pushing hard for a Mars sample return mission, ostensibly to seek out signs of aliens.
While the expectation is not to scoop up freeze-dried Martian microbes — only ancient, microscopic fossils — there's always the chance of an active contamination once those samples hit earthbound labs.
Again, this is where the planetary protection officer and her team come in: They help establish the equipment, protocols, and procedures to reduce such risks.
"The phrase that we use is, 'Break the chain of contact with Mars,'" Conley previously said of her work on such efforts.
No one ever said defending Earth had to be glorious all of the time, though; Conley said a typical week mostly involves a lot of emails and reading studies, proposals, and other materials.
*Who qualifies as a candidate*
An out-of-this-world job like Conley's requires some equally extraordinary qualifications.
A candidate must have at least one year of experience as a top-level civilian government employee, plus be an expert in "advanced knowledge" of planetary protection and all that it entails.
If you don't have "demonstrated experience planning, executing, or overseeing elements of space programs of national significance," then you may be wasting your time by submitting an application.
The job involves a lot of international coordination — space exploration is expensive and the costs are frequently shared by multiple nations — so NASA needs someone with "demonstrated skills in diplomacy that resulted in win-win solutions during extremely difficult and complex multilateral discussions."
Did we mention the advanced degree in physical science, engineering, or mathematics? You should have that on your resume, too.
The job comes with a "secret" security clearance, and noncitizens aren't technically allowed to apply. (That rule is thanks to an executive order signed by former President Gerald R. Ford in 1976.)
Applications will be accepted through USAJobs.gov from July 13 through August 14.
Kelly Dickerson contributed reporting to this story.
*SEE ALSO: 25 amazing images that prove you're a stowaway on a tiny, fragile spaceship*
*DON'T MISS: A Russian billionaire has launched the smallest-ever spacecraft into orbit — a key step to reaching a nearby star system*
Join the conversation about this story »
NOW WATCH: Stephen Hawking warned us about contacting aliens, but this astronomer says it's 'too late' Reported by Business Insider 15 minutes ago.
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