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Wednesday, April 10, 2013
Real Asthma Lungs | Daffa MS Blog | Health, Fitness & Beauty Blog
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This text demonstrates how the objectives which health professionals have been trying to achieve do not necessarily tally with those of patients. While the medical approach has been very successful in diagnosis and developing treatment this only addresses a part of the burden of chronic asthma.
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Stabbings reported on Texas college campus; school says one suspect at large
Texas deputies confirm one suspect is in custody in connection with multiple stabbings at Lone Star Community College in Houston. MSNBC's Andrea Mitchell reports.
By Erin McClam, Staff Writer, NBC News
At least 14 people were hurt Tuesday in a stabbing spree at a Texas community college apparently carried out by a student, authorities said. Sheriff?s officials said the suspect was in custody.
At least two victims were in critical condition. It was not immediately clear how severe the other injuries were. The stabbing happened at the CyFair campus of Lone Star College, in the Houston suburb of Cypress.
Harris County Sheriff Adrian Garcia said that authorities were not certain what the weapon or motive was. He said the suspect was 21 years old.
Johnny Hanson / Houston Chronicle
Life Flight personnel rush a stabbing victim to a helicopter Tuesday near Lone Star College in Cypress, Texas.
Memorial Hermann-Texas Medical Center said it had two patients in critical condition and six in all, including four flown there by helicopter. A spokeswoman for another hospital, North Cypress Medical Center, said it had taken six stabbing victims who were in stable condition.
Two other victims were treated at the scene and declined to be taken to the hospital, the sheriff said.
The school closed for the day and ordered students to find shelter somewhere safe. Campus police caught the suspect, the Harris County Sheriff?s Office said. The school planned to open Wednesday.
The stabbing happened just after 11 a.m., a college official said. The school had initially warned students that a second suspect might be at large, but sheriff?s officials said later that they believed they had the only suspect in custody.
In January, three people were shot at a separate campus of the same college. A federal official said that those shootings appeared to be gang-related. A 22-year-old man was charged with aggravated assault.
The Lone Star system of colleges has 90,000 students in all.
This story was originally published on Tue Apr 9, 2013 1:19 PM EDT
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Tuesday, April 9, 2013
Video: Gross: The 'Magic Exilir' of Real Interest Rates
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Mohamed A. El-Erian: Hey, They Are Stretching the Truth Way Too Far
Every week we all come across statements that, in seeking to engender confidence, risk stretching the truth too far. It is a hazard that governments, companies and individuals inevitably face when trying to emphasize the positive dimensions of a complicated situation.
In seeking to strike a rather delicate balance, the natural inclination often is to err in the direction of being too positive rather than too negative. But once in a while, we come across a vivid an example of how easily this can turn counterproductive, especially if the reassuring statement is meant to play a "catalytic role" -- that is, encourage others to do something they are hesitant to do.
A striking example this week comes from the three institutions now charged with the difficult task of rescuing yet another (the fifth) European country. And it is an example that serves as a reminder and warning to others.
The "Troika" (which consists of the European Commission, the European Central Bank and the International Monetary Fund) is activated to salvage economies on the brink of bankruptcy. Armed with inevitably imperfect information and incomplete analysis, they race against time to negotiate a "reform program." Their counterparts are shell-shocked country officials (often in denial), as well as reluctant creditors (who are often also angry and uncooperative).
Once negotiated, the program has to be sold widely. There is a particular tough part to this unenviable task: Convincing the trio of those directly providing the emergency cash (namely, the political bosses of the Troika), those who carry the brunt of the burden (citizens in the country being rescued), and those whose parallel actions can contribute to making or breaking the program (private investors).
It is therefore natural that the announcement of the program is accompanied by a very sophisticated and coordinated PR effort. The primary aim is to try to shape a constructive narrative, particularly by accentuating the positive elements while recognizing (but not amplifying) the challenges.
Having worked for 15 years earlier in my career at a multilateral institution involved in country rescues, I know how difficult and time consuming this can be; and I remember the long hours spent with the multiple wordsmiths, including seemingly endless debates as to whether "significant" is better than "substantial" in a particular sentence.
Yet I was still struck by what came out of the Troika this week after it finished negotiating the program with the authorities in Cyprus.
This is not the first time officials bungle an element of the Cypriot rescue. Only three weeks ago, they agreed on the first iteration of the program that, within just a few hours, attracted so much worldwide criticism that the Troika sought to disown it (having endorsed it earlier). And all were forced red-faced back to the negotiating table.
So, consider this summary sentence from a Troika press release a few days ago (and which was picked up by the media and disseminated broadly): "We believe that [the program] provides a durable and fully financed solution to the underlying problems facing Cyprus and provides a sustainable path toward a recovery."
Anyone even vaguely familiar with the details of the Cypriot program realizes that the country is a long way away from "a durable and fully financed solution," let alone "a sustainable path toward recovery."
Already, key assumptions of the program are outdated if not totally obsolete (including, and particularly regretful given the social costs, a programmed economic contraction limited just to 8% this year). Little is being done to realistically develop new job engines for a country that is suddenly void of any meaningful growth model. Accordingly, the fiscal adjustment being asked from Cyprus will likely prove inconsistent with social and political realities.
Especially after the earlier debacle, the Troika could be forgiven in seeking to oversell the Cypriot program. Yet, by going too far, this critically-important group is risking credibility that is key to its success here, as well as in other difficult European rescue cases (and there will be other cases).
Few, if any, investors are likely to commit funds to Cyprus when the Troika seems so disconnected from reality. If anything, they could be tempted to use this period of relative and temporary tranquility (if you can even call it that) to pull whatever they have left out of the country.
Lacking a credible good outcome down the road, citizens will resist making the sacrifices that are being asked from them, increasing the risk of social unrest. And those who still keep money in local banks will be more inclined to withdraw it, thus deepening a financing hole that is far from covered.
These types of Troika statements do not reassure. If anything, they raise doubt about the judgment of officials that are central to a good outcome for Cyprus. Indirectly, they also harm the probability of future European country rescues, and do so at a time when the continent is yet to regain a stable footing.
The Troika is not the first to make this mistake. Many companies, governments and individuals have fallen into the same trap. Let us hope that this rather vivid example serves to limit similar mistakes going forward.
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Source: http://www.huffingtonpost.com/mohamed-a-elerian/hey-they-are-stretching-t_b_3032415.html
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Sluggish jobs report may further slow stock market
NEW YORK ? The stock market's robust rally was slowing even before Friday's jobs report, but the red flag sent up by the weak data makes the path to more gains less secure.
It means the bulls will have to look to earnings for a way to keep the rally going. The S&P 500 hit an all-time closing high on Tuesday, but lately defensive stocks have been leading the charge, and notable growth indexes are slipping.
This rotation has many thinking the long-awaited market correction is nigh. A 3 percent decline in the Russell 2000 index this week seemed to be a confirmation of the trend.
"Momentum I think has been slowing a bit, and it would be interesting to see if this is just a one-session sell-off," said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston, about Friday's decline.
In the first quarter, the benchmark's healthcare index added 15.2 percent and utilities gained 11.8 percent, besting the broad S&P 500's 10 percent gain.
The transition into defensive stocks may respond to investors' taking into account the effect of higher payroll taxes this year and the $85 billion in government spending cuts that started to trickle at the beginning of the year.
The shift is "a rotation into sectors less affected by a short-term slowdown in the consumer," said Eric Kuby, chief investment officer at North Star Investment Management Corp in Chicago.
Earnings hold the key
Earnings season starts in earnest next week, with the highlight coming from JPMorgan Chase & Co and Wells Fargo & Co on Friday. Details on Wells Fargo's earnings will be dissected for clues on the health of the housing market.
Overall, S&P 500 earnings are expected to have risen 1.5 percent last quarter, down from a 4.3 percent gain expected at the start of the year, according to Thomson Reuters data.
Investors "are really waiting for the earnings season on balance to disappoint," said Zaro.
Companies have caught up on the lowered expectations, and negative outlooks have been predominant ahead of earnings season. In fact, the negative-to-positive guidance ratio from S&P 500 companies is at its highest since the third quarter of 2001, according to Thomson Reuters data.
At 4.7, the ratio is the sixth-highest among 69 readings dating to 1996.
"Companies understand that since the economy is weak there's no reason to be a hero and give guidance you can't beat," said Nicholas Colas, chief market strategist at the ConvergEx Group in New York.
F5 Networks was the latest and one of the most dramatic examples of lowered earnings expectations. The network equipment maker partly blamed lower government sales for its profit warning late on Thursday, which erased almost a fifth of its market value on Friday.
In past quarters, revenue beats have taken the focus off the bottom line as investors were expecting the stronger economy to translate into more sales, but that may not be the case this time around.
"At this point earnings are going to be perhaps more important than revenues only because we know Q1 was only a so-so quarter for the economy," said Colas.
"It's not going to be a surprise if revenues are a little bit light. Where we really have to make sure the numbers work is at the earnings level."
Busy week for the Fed
The Federal Reserve could be next week's wild card. Indications of renewed support for loose monetary policy - or the slightest hint in the direction of tightening - have triggered wild moves in the market.
The minutes of the March FOMC meeting are due on Wednesday and market participants will look for insight into the debate regarding the amount and duration of bond purchases the U.S. central bank is executing monthly.
The hawkish argument - a reduction of stimulus - was dented by Friday's job report, so any mention of it in the minutes may not trigger panic. But more than a dozen speeches by various Fed officers next week could stir things up.
The economic reports calendar is light except for consumer data. Retailers are expected to post a 1.9 percent rise in sales for last month, compared with a gain of 2.9 percent in March last year when same-store sales figures are published Thursday.
The Commerce Department posts its own retail sales figures on Friday, followed by the Thomson Reuters/University of Michigan survey of consumers.
Copyright 2013 Thomson Reuters.
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