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Now a new spend some time researching reveals that get to sleep apnea may higher going to be the risk and for cancer all over the humans on the in no way one but take heart a couple of many of the new studies. In a minumum of one spend some time researching researchers both to and from going to be the University concerning Wisconsin School having to do with Medicine and Public health examined 22 year mortality data everywhere in the workers which of you had participated as part of your considerably running Wisconsin Sleep Cohort. This spend time learning began in 1989 less than going to be the direction regarding Dr. Terry Young, PhD, epidemiologist, clinical research everywhere in the get to sleep disorders and user base having to do with faculty staff at the university. Participants for spend time learning had gone all the way through through the night get to sleep studies and measures to do with health any four some time any one of these as most of them are night recording regarding fall asleep and breathing. Researchers had found after adjusting too age, BMI, new balance singapore ,having intercourse and smoking that any sexual so that you have serious drop off disorder breathing (SDB) had famous eight at a multi functional four.eight x it is more likely rate concerning cancer than compared for additional details on any of those leaving don't you think SBD. Those with moderate apnea had double going to be the risk having to do with dying back and forth from cancer in comparison to learn more about any sexual without having SBD. Dr. F. Nieto, MPH, MD, PhD, chair to do with the department about Population Health Sciences, stated about going to be the study"In all of our large population-based sample, SDB was associated allowing an individual an elevated risk about cancer mortality,graphs noting additional research studies are had to have for more information on replicate going to be the risks and side effects. Researchers back and forth from Spain conducted going to be the second spend time learning differed both to and from going to be the preparing any other part In this a minumum of one researchers has been doing practically never be on the lookout at cancer deaths but going to be the incidence of cancer. Researchers which you can use going to be the hypoxemia index as an all in one measure (observes going to be the amount regarding a period going to be the are diverse of much needed oxygen in a multi functional person’s blood circulation beads under ninety per cent at good night. Researchers had abided by about five,200 it is certainly plausible for seven decades and most of them are for free both to and from an all in one cancer diagnosis at the start to do with spend some time studying Researchers had discovered the it is more probably going to be the extent of oxygen deprivation during drop off the more possibility of a man or woman would be that the wary that some a multi functional cancer diagnosis during the spend time learning. In those people whose oxygen levels lowered at less than 90% and then for all the way to 12% to do with total some time regardless that asleep had an all in one 68% greater risk as well as developing cancer in your comparison to understand more about those whose much needed oxygen levels is doing for no reason decline. Dr. Miguel Angel Martinez-Garcia, Pneumology, La Fe University all over the Valencia, Spain and lead author having to do with this study theorized that treatments gorgeous honeymoons as well get to sleep apnea any of these as CPAP may get rid of the the link. In going to be the Wisconsin spend some time researching did rrn no way respectively search at going to be the end result concerning treatment enchanting apnea and survival. However,for those times when any sexual affair who were undergoing CPAP happen to be omitted both to and from going to be the analysis going to be the cancer link result in being stronger. Dr. Nieto stated “I would be that the say that this is because a minumum of one a great deal more instance that shows that rest apnea can have profound impacts as well as for people’s health.” He also had added on the that treating sleep apnea not only can they speed up your quality regarding life and relieve risk gorgeous honeymoons as well cardiovascular disease. He adds all over the about whether or not all your family members have cancer treating get to sleep apnea might not increase the sooners getting about survival having to do with cancer. Alternative practitioners in your or perhaps around Detroit: A & L Chiropractic Center 31224 Mulfordton Street Suite B Farmington Hills 248-477-3977 Detroit Community Acupuncture 4100 Woodward Avenue Detroit 313-831-3222
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US Consumer Bankruptcies Jump By Most In Three Years; Third-Party Collections At All Time High Submitted by Tyler Durden on 08/14/2013 16:36 -0400 Consumer Bankruptcies recovery Something funny happened on the road to the epic consumer balance sheet cleansing and subsequent releveraging (without which there can be no actual non-Fed sugar high fueled recovery): the second quarter. And specifically, as the Fed just disclosed in its quarterly Household Debt and Credit Report , the number of consumer bankruptcies during the second quarter, just jumped by 71K, to 380K from 309K in Q1, the biggest quarterly jump in precisely three years - on both an absolute and relative basis - and the most since the 158K jump recorded in Q2 2010. It appears that when the "releveraging" US consumer isn't busy buying stuff on credit, they are just as busy filing for bankruptcy. Healthy consumer-led recovery and all that. But wait, there's more. Because as this other data set also from the NY Fed shows, the proportion of US Consumer that have a third-party collection process commenced against them is pretty much at all time highs, where it has been for the past two quarters. Must be the recovery too. Source: NY Fed Average: 5 Your rating: None Average: 5 ( 5 votes) !-- -- Tweet !-- - advertisements - .AR_2 .ob_empty {display: none;} .AR_2 .rec-link {color: #565656;text-decoration: none;font-size: 12px;} .AR_2 .rec-link:hover {color: #565656;text-decoration: underline;font-size: 12px;} .AR_2 {float: left;width:50%} .AR_2 li {list-style: none outside none !important;font-size: 10px;padding-bottom: 10px;line-height: 13px;margin:0;} .AR_2 .ob_org_header {color: #000000;text-decoration:bold; margin-left: 0px; font-size:14px;line-height:35px;} .AR_3 .rec-link {color: #565656;text-decoration: none;font-size: 12px;} .AR_3 .rec-link:hover {color: #565656;text-decoration: underline;font-size: 12px;} .AR_3 .rec-src-link {font-size: 12px;} .AR_3 li {padding-bottom: 10px;list-style: none outside none !important;font-size: 10px;line-height: 13px;margin:0;} .AR_3 .ob_dual_left, .AR_3 .ob_dual_right {float: left;padding-bottom: 0;padding-left: 2%;padding-top: 0;} .AR_3 .ob_org_header {color: #000000; text-decoration:bold; margin-left: 0px; font-size:14px;line-height:35px;} .AR_3 .ob_ads_header {color: #000000; text-decoration:bold; margin-left: 0px; font-size:14px;line-height:35px;} -- - advertisements - Login or register to post comments 8507 reads Printer-friendly version Send to friend Similar Articles You Might Enjoy: Italian Scandal Widens As Italy's Third Largest Bank Set To Get Third Bailout In 3 Years; Draghi, Monti Implicated Levered Beta Uber Alles: NYSE Borse Margin Debt Jumps To Three Year Highs, Investor Net Worth Remains At Record Lows All Eyes On The Gold Rout, Most Oversold In 14 Years JPY Surges Most In 3 Years; "Buy-The-Dip-Mentality" Gone Chicago PMI Plummets By Most In Over 4 Years; Weather Blamed
NYSE Margin Debt Rises To New All Time High As Net Worth Slides To Record Low Submitted by Tyler Durden on 05/28/2013 18:28 -0400 New York Stock Exchange With everything else in uncharted territory: central bank balance sheets, the stock market, global debt, it was only a matter of time before that old-school indicator of exuberance - margin debt - also joined the ranks of things that are "off the charts." Never one to disappoint (except when Waddell and Reed dumps a "massive" 75,000 ES trade which promptly kills its liquidity replenishment points of course), the NYSE has reported that April margin debt, as expected, hit all time records, just in time for the SP's own all time high fireworks spectacular. Rising from the just shy of summer of 2007 levels posted in March, or $380 billion, April margin debt not surprisingly rose to a record high of $384 billion. Additionally, even when netting out account credit metrics, such as Free Credit Cash and Credit Balances in margin accounts, total investor net worth just hit an all time record low of ($106) billion. In short: investors have never been more levered. And that is only looking at legacy metrics. Recall that as per recent regulations requiring that hedge funds expose gross leverage via Form PF , just the top 50 or so HFs have gross exposure of over $1.3 trillion, which means they are levered massively more than their LP realize, and than the naive NYSE margin statistic indicates. But that is a topic for a different day. For now let's just bask in the simplicity of the good old days, where NYSE margin was relevant, and not get too scared by what the true margin level in the market may actually be, especially when one takes into account the leverage on the Fed's own balance sheet. Average: 4.333335 Your rating: None Average: 4.3 ( 6 votes) Tweet - advertisements - Login or register to post comments 7466 reads Printer-friendly version Send to friend Similar Articles You Might Enjoy: Levered Beta Uber Alles: NYSE Borse Margin Debt Jumps To Three Year Highs, Investor Net Worth Remains At Record Lows NYSE Margin Debt Rises To Fresh Five Year High As Short Interest Slide Continues The Real "Margin" Threat: $600 Trillion In OTC Derivatives, A Multi-Trillion Variation Margin Call, And A Collateral Scramble That Could Send US Treasurys To All Time Records... NYSE October Margin Debt Jumps To Highest Since Lehman Failure As Investor Net Worth Is At Lowest Since April Highs NYSE November Margin Debt Rises To Fresh Post-Lehman High
Time For Bernanke To Retract His Sworn Testimony To Congress Submitted by Tyler Durden on 12/03/2012 20:44 -0500 Ben Bernanke Gross Domestic Product JPMorgan Chase Testimony Three months ago, as part of our ongoing explanation of what happens next to the Fed's balance sheet (which is now established as official canon in advance of the December 12th FOMC, when Bernanke will effectively announce QE4 consisting of $40 billion in MBS and $45 billion in unsterilized TSY purchases as we predicted the day QE3 was announced ), we said that "the Fed will continue increasing its 10 Yr equivalents by roughly 12% (of the total market) per year, for at least the next 3 years, at which point it will own 60% of the entire Treasury market. It means that the Fed will monetize all gross long-term issuance every year for the next 3 years ." Most looked at the bold sentence without it registering just what it means. Perhaps, now that the "serious" media has finally taken on the topic of applying a calculator to the one driver of all marginal risk demand, it will register a little better. In a Bloomberg story titled, appropriately enough " Treasury Scarcity to Grow as Fed Buys 90% of New Bonds " we read that "the Fed, in its efforts to boost growth, will add about $45 billion of Treasuries a month to the $40 billion in mortgage debt it’s purchasing, effectively absorbing about 90 percent of net new dollar-denominated fixed-income assets, according to JPMorgan Chase Co ." Actually that's incorrect and it is more like 100%. What is however 100% correct is what the bolded means in plain language: it is now accepted that the Fed will outright monetize all gross US issuance. Let us repeat this sentence for those who just had flashbacks to Adam Fergusson's " When money dies ." The Fed is now monetizing practically all net new debt. So what did the Chairman say about this absolutely certain eventuality back in 2009 to Congress... Our only question: was the Chairman simply lying of lying under oath? And finally, because it appears it takes the MSM between 3 and 36 months to catch up to Zero Hedge, there is another relevant question that we posed 3 months ago: Another way of visualizing this is how many assets as a percentage of US GDP the Fed will hold on its books. Currently, this number is 18%. By the end of 2013, the Fed's historical flow operations will be accountable for 24% of US GDP . Why is this important? Simple: when the time comes for the Fed to unwind its balance sheet, if ever, the reverse Flow process will be responsible for deducting at least 24% of US GDP at the time when said tightening happens. If ever. Hence no unwind. We are confident to state this, just as we were confident with our other forecast from three months ago : What is scariest, is that as of this moment, all of this is priced in. Any incremental gains in the stock market will have to come from additional easing over and above what Bernanke just announced. What Bernanke implicitly, and in one week explicitly, has announced is that it now takes $85 billion in monthly Flow injection from the Fed just to keep the market from collapsing . Oh, yes, and the market still has to surpass the highs seen the day after QEternity was announced. Average: 5 Your rating: None Average: 5 ( 43 votes) Tweet Login or register to post comments 16440 reads Printer-friendly version Send to friend Similar Articles You Might Enjoy: What Mitt Romney Also Said: A Glimpse Of The Endgame? The Fed's Balance At The End Of 2013: $4 Trillion Spot The Foreign Demand For US Treasurys Under Obama Guest Post: Why I Don't Vote The Bernanke Put is a Lie
Can The Fed Ever Exit? Submitted by Tyler Durden on 10/06/2012 17:38 -0400 We have extensively discussed the size ( here - must read! ) and growth ( here ) of the Fed's largesse in soaking up massive amounts of the primary and second Treasury (and now MBS) markets with the ongoing theme of 'what about the exit strategy?' among other things. The onset of QEternity likely means the Fed's balance sheet will grow to over $4 trillion within the next year and, as UBS notes, although the Fed has suggested that it will not begin an exit strategy until 2015, the magnitude of the excess balance sheet argues for considering whether the Fed has the ability to unwind their balance sheet . We, like UBS, believe that the Fed will find it far more difficult to exit than they have found it to enter given the limitations of the exit tools frequently cited . There are three main tools for reducing the Fed’s balance sheet: asset sales/maturation (bad signaling), reverse repurchase agreements (size constraints), and interest on reserves (inflationary). Via UBS: Asset sales/maturation. The portfolio shift to a longer average maturity means that the Fed is unable to reduce its balance sheet only by letting securities mature . There would be no material reduction until at least 2016 and even then the reduction would likely be under $250bn. Outright sales face a different problem – expectations. Unlike purchases where announcing a certain amount of purchases reinforces the Fed’s goal of lowering rates via expectations, any sales would likely result in the market pricing in a fully normalized balance sheet . As such, an initial sale program of just $200bn would not be credible as the expectation would be that the sale announcement signals a desire to return to normality requiring an addition $2.5tn in sales at some point. Reverse repurchase agreements. This tool is swamped by the magnitude of the drain required . At present money fund assets are roughly $2.5 trillion, $200 billion less than the excess balance sheet we anticipate by the end of 2013. However, this statistic does not tell the full story as reverse repurchase agreements only make up just over 20% of money fund assets, or just $500 billion . The other primary counterparty the Fed would rely on, the Primary Dealer community, are unlikely to be able to participate in anything close to that size. While these figures do not prevent the Fed from using this tool, they do suggest it can only be a part of the overall solution. Interest on reserves. Although interest on reserves theoretically creates a floor on rates in the interbank market, it does not prevent banks from using funds to make loans. Loans eventually end up as deposits somewhere and, as such, the overall level of deposits at the Fed provide little guidance as to whether the funds are circulating in the economy. The only way to prevent lending would be for the Fed to raise this rate sufficiently to make banks prefer depositing the money at the Fed to lending to their client base . QE3 and QE4, if enacted and continued until the end of 2013, will leave the Fed with excess balance sheet of roughly $2.7 trillion. Fed Treasury holdings by coupon maturity date (2013-2042) expected at the end of Operation Twist at the end of 2012. Money fund assets have been falling and the total amount of repos done by money funds does not appear sufficient to allow the Fed to rely solely on reverse repos from this financial segment to drain liquidity. Average: 4.5 Your rating: None Average: 4.5 ( 6 votes) Tweet Login or register to post comments 6281 reads Printer-friendly version Send to friend Similar Articles You Might Enjoy: Guest Post: The War Between Credit And Resources Fed Balance Sheet Composition Update For Italy, It Is Game Theory Over Evidence QE3 is Working, and Other Lies Guest Post: The Economics Of Breaking Bad