July 23, 2015

Bits Bucket for July 23, 2015

Post off-topic ideas, links, and Craigslist finds here.

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Comment by Goon
2015-07-23 04:12:33

Leadville, Aspen, Buena Vista, in that order

P.S. loanowners never get to travel there…

Comment by Ol'Bubba
2015-07-23 04:43:17

I remember driving through Leadville in mid May one year. It was cold, overcast and snowing.


That’s what you get with elevations over 10 thousand feet.

Comment by Goon
2015-07-23 05:06:53

I personally endorse High Mountain Pies as the place to eat in Leadville, but be sure to order well in advance on weekend nights, I phone in my order when I leave 70 at Copper Mountain or as soon as I have reception after dropping from Indy Pass


Comment by Pangolin
2015-07-23 05:52:39

Colorado is beautiful 4 months of the year. The rest of the time it is freezing cold. Being in the mountains allows you to feel closer to Crom though.

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Comment by In Colorado
2015-07-23 07:34:43

Yup, it’s an arctic wasteland. Whatever you do, please don’t move here.

Comment by In Colorado
2015-07-23 08:57:09

Yup, it’s an arctic wasteland. Whatever you do, please don’t move here.

Don’t take my word for it, here’s a weather table for Fort Collins:


Warning… it isn’t for the faint of heart. So don’t click on it until you’ve braced yourself.

Comment by Califoh20
2015-07-23 10:27:47

Some people think Denver is in the mountains.

Boulder is a great high quality of life town.

Comment by In Colorado
2015-07-23 11:02:26

Some people think Denver is in the mountains.

Must be the “Mile High” moniker. First time visitors are often disappointed when they see that it’s on the Front Range and not next to Vail.

Comment by MightyMike
2015-07-23 11:10:48

Are there any big cities that are actually “in the mountains”? I think that it would be difficult for a city of over half a million people to function in mountainous terrain.

Comment by rms
2015-07-23 12:07:08

Warning… it isn’t for the faint of heart.

Fort Collins is mild compared to the Columbia Basin, IMHO. We get triple digits every summer, and winters are frozen solid for a couple of months; think Spokane climate on steroids.

And the Columbia Basin is nothing compared to what a former co-worker lives with in Williston, ND.

Comment by Califoh20
2015-07-23 12:07:39

The capital of NM (Santa Fe) is higher than Denver.

And being farther south, much lighter snow. You can broom off the sidewalk after it falls.

Comment by Puggs
2015-07-23 15:25:16

I summer in Sante Fe. Just wrapped a video chat and refreshing verde at Iconik.

Comment by Selfish Hoarder
2015-07-23 05:26:56

Toga Pass road was closed two weeks ago in Yosemite Park in California from snow. In July.

Comment by Combotechie
2015-07-23 05:29:42

Chalk it up to Global Warming.

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Comment by Combotechie
2015-07-23 06:33:34

According to Dr David Viner, a senior research scientist at the climatic research unit (CRU) of the University of East Anglia, within a few years winter snowfall will become “a very rare and exciting event”. “Children just aren’t going to know what snow is,” he said.


Comment by Combotechie
2015-07-23 06:48:33
Comment by Oddfellow
2015-07-23 07:28:47

Ignore the scientists, trust your preachers, politicians, and fossil fuel business leaders.

Comment by Selfish Hoarder
2015-07-23 08:07:24

I have to also add trust Mr. Banker.

Comment by redmondjp
2015-07-23 09:23:08

Al Gore is a preacher, by the way. Preach it, Brother Al!

Comment by Califoh20
2015-07-23 10:30:43

EVERYONE should visit 350.org and see what science is all about. Learn how much the gov subsidies the big oil co’s and how the CEO of Exxon makes $100k per day, and some people say scientist claim global warming is true for the grant money!

Big trouble ahead if we keep on burning fossil fuels.


Until you educate yourself, denying it is just ignorance.

Comment by Califoh20
2015-07-23 10:33:32

to the people who deny science, after you watch the movie, we can discuss it. http://math.350.org/

It’s simple math: we can emit 565 more gigatons of carbon dioxide and stay below 2°C of warming — anything more than that risks catastrophe for life on earth. The only problem? Burning the fossil fuel that corporations now have in their reserves would result in emitting 2,795 gigatons of carbon dioxide — five times the safe amount.

Fossil fuel companies are planning to burn it all — unless we rise up to stop them. In November 2012, Bill McKibben and 350.org hit the road to build a movement strong enough to change the terrifying math of the climate crisis. The Do the Math Tour was a massive success, with sold out shows in every corner of the country.

Comment by CHE
2015-07-23 12:26:09

Wouldn’t “hitting the road” imply they were consuming the very same fossil fuels they are complaining that produce CO2 that is causing Global Warming/Climate Change that will kill us all?

Oh and buying those fossil fuels from these companies that they are rallying against?


Comment by Califoh20
2015-07-23 13:27:39


Of course we all still use oil every day, no one is saying we dont.

Comment by Califoh20
2015-07-23 13:33:40

CHE - watch the video, then you will see who is “scamming” you.

Hint: not the scientist.

Comment by Puggs
2015-07-23 15:37:36

I only ride my cruiser bike to commute and tend my plot at the community garden. Even my prius emits too much for my liking. + gas keeps climbing even though ppb is dropping…

Comment by Mr. Banker
2015-07-23 05:19:37

Yogi Berra said: “Nobody goes there anymore, it’s too crowded.”

Mr. Banker says: “Nobody wants to buy, the price is too low.”

Bahahahahahahaha … people are smart … bahahahahahahaha.

Comment by Goon
2015-07-23 05:26:44

I follow Facebook Realtor’s business FB page, but Facebook Realtor himself rejected my friend request. He knows I am watching him, and I see him in person every few months at happy hours in Denver

Comment by Selfish Hoarder
2015-07-23 08:08:59

Nobody wants to buy gold. The price is too low.

Comment by rms
2015-07-23 12:11:08

I’ll trade your gold for my handgun; let’s meet in the alley.

Comment by redmondjp
2015-07-23 15:45:50

Not true; people are clamoring to purchase every bit of physical that they can get their hands on right now.

Comment by Raymond K Hessel
2015-07-23 17:09:14

Primarily paper (nonexistent) gold is being sold in the markets. Eager buyers are snapping up the physical metal at these prices.

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Comment by Selfish Hoarder
2015-07-23 20:56:26

I don’t see that happening. “People are smart” - NOT. The psychology is the same as housing. If the prices fall significantly no one wants to buy his own dream house. If the prices go up too high, everyone wants to buy.

This has got me scratching my head why my bud, P.B. recognizes that folly about housing but thinks gold is a barbarous relic and not worth owning. Just as was said in 1999.


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Comment by Goon
2015-07-23 05:32:42

The Drudge Report is leading with “ISIS Brats Make Death Video”

No “smaller government” or “lower taxes” happening there, just another trillion dollar war. Scott Walker wants you to click that link. Lindsey Graham wants you to click that link. The national debt is over eighteen trillion dollars

Comment by Goon
2015-07-23 05:48:09

FoxNewsHate pimps the fear with a link titled “ISIS a bigger threat than Al Qaeda, FBI chief says”

William Kristol jingling coins in his pocket, laughing to himself over how easily his “base” of mouth breathers and window lickers are manipulated into supporting his wars, and seconds after the FoxNewsHate camera goes to commercial break, muttering under his breath “stupid f*ing goyim”

Comment by Pangolin
2015-07-23 06:11:52

I saw an ad yesterday for The Weekly Standard Cruise, a cruise ship vacation package where William Kristol will be speaking. It sounds right up your alley. Check it out.

Comment by oxide
2015-07-23 17:53:30


And of course they aren’t going to give you pricing. You have to call. But if you want to add a third person to a two-person cabin, it’s $1500 extra.

Speakers include the usual wingnut welfare queens such as Stephen Hayes, author of “The Connection : How al Qaeda’s Collaboration with Saddam Hussein Has Endangered America.”

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Comment by nhtransplant
2015-07-23 06:34:50

I guess we could just stop importing them here under the guise of “refugees”. One can recognize the atrocities of ISIS without advocating going to war with them. Just stop giving them the means to import their soldiers on to our soil. If they can’t bring their fight to us we have no excuse to bring our fight to them.

Comment by Goon
2015-07-23 06:49:09

recognize the atrocities of ISIS without advocating going to war with them

That’s not what Sheldon Adelson paid for :(

Comment by Ben Jones
2015-07-23 07:03:39
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Comment by Ben Jones
2015-07-23 07:06:39

‘West making big mistake in fighting ISIS, says senior Israeli officer’

‘IDF Northern Command officer says he thinks the U.S.-led coalition intervened too early against the Sunni militants, and ‘not necessarily in the right direction.’
By Gili Cohen | Oct. 31, 2014

‘The coalition forces’ attacks against the Islamic State support the “radical Shi’ite axis,” the unnamed officer said. “A strange situation has been created in which the United States, Canada and France are on the same side as Hezbollah, Iran and Assad. That doesn’t make sense,” he said.’


Comment by X-GSfixr
2015-07-23 08:09:35

Easy enough to understand……the Israelis were willing to ignore ISiS atrocities, as long as they were fighting Shiites.

Then whwn their usefulness was over, Uncle Sugar would take care of ISIS.

Remind me again why we are getting involved in this C-F?

Comment by Raymond K Hessel
2015-07-23 17:11:36

Onward Christian Soldiers, Marching as to War….

Comment by rms
2015-07-23 07:06:38

+1 Exactly the reason we’re hip-deep in the middle east.

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Comment by MightyMike
2015-07-23 09:48:03
Comment by Raymond K Hessel
2015-07-23 17:10:22

That’s not what Sheldon Adelson paid for :(

No, THIS is what Sheldon Adelson paid for.


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Comment by MightyMike
2015-07-23 07:00:00

Have any ISIS soldiers been brought in as refugees?

Comment by nhtransplant
2015-07-23 07:31:48

Can’t know for sure til one of’em goes boom. We are bringing in refugees from Syria. This is a very convenient way for them to sneak some in. I wouldn’t want any of these refugees as my neighbors, that’s for sure. We shouldn’t be taking the war to them but why lay out the red carpet and invite them to bring the war to us? We’re even offering them free food and housing.

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Comment by MightyMike
2015-07-23 09:50:19

So any Syrian is guilty until proven innocent. You could say that about anyone. Your neighbors could say that about you. Maybe you’ve been a reasonable, law-abiding person your whole life, but who knows what you might do in the future?

Comment by In Colorado
2015-07-23 15:36:56

So any Syrian is guilty until proven innocent.

Coming to the US as a refugee is a privilege, not a right. We should most definitely vet each and every refugee candidate, and reject any who raise even the slightest doubt.

Comment by MightyMike
2015-07-23 16:02:27

Vetting is already part of the process. However, if we “can’t know for sure til one of’em goes boom”, then it must be impossible.

Comment by palmetto
2015-07-23 05:36:07

A standing O from vets for Trump in SC.


The Don will be at the border today.

Comment by ibbots
2015-07-23 06:04:31

He won’t have an official escort from the Border Patrol though…

Donald Trump’s planned tour of the Laredo Sector of the Texas -Mexico border has been canceled by the national AFL-CIO-controlled union that represents U.S. Border Patrol agents, the National Border Patrol Council (NBPC). 

Comment by palmetto
2015-07-23 06:21:14

LOL, I guess they’re too busy escorting drug dealers and coyotes across the border.

Can’t stop The Don, though. He’ll do a workaround, and this will give him more fuel for the fire. Go, Don!

PS He just took a shot at Kristol on Twitter, LOL.

Comment by nhtransplant
2015-07-23 06:37:23

I wonder how much influence Rick Perry had in that decision. Trump’s been giving him a few lumps lately.

Comment by palmetto
2015-07-23 08:01:08

Those lumps are in response to what Perry dished out. What a loser.

Had an interesting conversation with a young feller the other day. Well, younger than me, anyway. Gen Yer, I think. Just sort of a regular joe from Ohio, trying to make it here in Florida. You know, one of those middle class working white guys the media loves to hate. We were discussing small SUVs. Anyway, he must have sensed I was a Trump fan, being older and all, so he said “Y’know, I’m not supposed to discuss politics, but Trump has got it all sewn up on social media”.

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Comment by MightyMike
2015-07-23 07:05:16

Donald Trump’s planned tour of the Laredo Sector of the Texas -Mexico border has been canceled by the national AFL-CIO-controlled union that represents U.S. Border Patrol agents, the National Border Patrol Council (NBPC).

Where’s you get that one? The AFL-CIO doesn’t control the border patrol union. It’s a federation of unions.

Comment by aNYCdj
2015-07-23 06:42:27
Comment by Selfish Hoarder
2015-07-23 08:12:55

Part 1 execute Snowden.
Part 2 renew NDAA and Patriot Act.
Part 3 Sign a Sedition Act.

Comment by rms
2015-07-23 07:11:36

Marla Maples is aging nicely. Mind the Gap!

Comment by X-GSfixr
2015-07-23 08:18:38

Was told that the Donald was coming into town, and the airplane he was on had a problem that needed fixed while he was in a meeting with the company suits.

So I get one of my guys and we both kinda stand in the background as The Donald gets off and shakes hands with the suits.

Second out the door was Marla. In short-shorts. WOW was the first word that came to mind.

The mech I had with me thanked me profusely for bringing him out.

This was circa 1994-95

Comment by In Colorado
2015-07-23 09:05:43

The Wall takes no prisoners, which is why the Donald traded her in for a newer model.

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Comment by Raymond K Hessel
2015-07-23 17:12:45

A first lady that’s easy on the eyes and has better things to do than meddle with school lunch programs…would make a nice change.

Comment by Goon
2015-07-23 08:22:52

Give us this day our daily Trump:


The Hill dot com also reporting Jon Stewart is “begging” Trump to appear on his final Daily Show on August 6

Comment by Califoh20
2015-07-23 10:43:31

love to see that! Jon Stewart will be missed.

Comment by Goon
2015-07-23 05:38:22

Speaking of Drudge links, this one too good not to share

Acts Of Love™ commit 2,993 murders in Texas since 2008

Which, according to SJW betters, is unpossible, because every one of them who comes to USA become doctors and astronauts when they grow up


Comment by 2banana
2015-07-23 06:19:38

But the illegals vote or will vote the right way.

There will no media anguish over this, no marches, no #lives matter, no Al, no Jesse and not word from the president.

Comment by nhtransplant
2015-07-23 06:38:34


Comment by aNYCdj
2015-07-23 06:49:33

#black Criminal lives matter

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Comment by Goon
2015-07-23 06:50:27


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Comment by In Colorado
2015-07-23 07:42:28

There will no media anguish over this, no marches, no #lives matter, no Al, no Jesse and not word from the president.

Black leaders should care as blacks are the ones most affected by illegal immigration. But they don’t and we know why.

Comment by Raymond K Hessel
2015-07-23 05:42:53

Jobless claims “plunge to lowest level since 1973″ yet a record 93.6M Americans are “out of the work force.” Doesn’t compute.


Comment by Professor Bear
2015-07-23 06:25:01

There is always a fly in the ointment.

Qualcomm to Cut 15% of Workforce, Weigh Split

Chip maker’s layoffs part of plan aimed at cutting $1.4 billion in costs, appeasing activist
Qualcomm reported a 47% drop in earnings and 14% decrease in revenue.
Photo: Reuters
By Don Clark
Updated July 22, 2015 7:34 p.m. ET

Qualcomm Corp. moved to appease an activist investor and slash costs in response to a nearly 50% drop in quarterly profit.

The San Diego-based chip designer said would cut spending by $1.4 billion and consider restructuring its operations, such as separating its design and patent-licensing businesses. Qualcomm previously has considered splitting into two but always wound up rejecting the idea.

Chief Executive Steve Mollenkopf on Wednesday promised to take a fresh look at potential breakup options to reflect recent heightened competition. He told analysts Qualcomm now would examine “any and all ways to maximize shareholder value.”

The cuts include paring 15% of its full-time employees and “significantly” cutting its temporary staff. Qualcomm last year employed about 31,300 full-time and temporary employees, indicating that more than 4,500 workers could be affected.

Qualcomm also plans to cut $300 million from its annual share compensation grants to employees. The staff cuts will result in between $350 million and $450 million in restructuring charges, it said.

Comment by Raymond K Hessel
2015-07-23 06:33:23

Not to worry. In the Obama-Fed-Goldman Sachs “recovery,” there should be waiter or bartender or sign-flipper jobs for each of these dismissed high-tech workers. I presume they’ve already trained their Indian replacements?

Comment by Professor Bear
2015-07-23 07:34:52

The Indian replacements have been working and living in our neighborhood for years already.

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Comment by beetlejuice
2015-07-23 16:10:44


Comment by Professor Bear
2015-07-23 19:39:01


Comment by In Colorado
2015-07-23 07:44:06

Looks like Qualcomm was on the wrong side of the GSM vs CDMA war.

Comment by Professor Bear
2015-07-23 07:37:17

“Doesn’t compute.”

The chronically unemployed file no jobless claims.

Comment by Califoh20
2015-07-23 15:09:32

So, you want the gov to create jobs or force Exxon with billions in profits to hire more people?

What happened to “less gov?”

Comment by aNYCdj
2015-07-23 08:04:07

people are not out of the workforce , they are out of the on the books taxpaying workforce, that’s why its almost mandatory we install a national sales tax say 3-5% to make sure everyone pays something.

Comment by rj chicago
2015-07-23 08:17:51

It does compute - there is no one left in the workforce to claim benefits. What was that song a while back nothing times nothing is nothing or something like that?

Comment by redmondjp
2015-07-23 09:30:38

Billy Preston wrote it: ‘Nothing from Nothing’

Comment by rj chicago
2015-07-23 12:22:00

that’s it - nothing from nothing means nothin’

I can go to sleep tonight!

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Comment by Califoh20
2015-07-23 13:54:36

If McCain was president you would not have a problem with these facts–think about it.

Comment by Raymond K Hessel
Comment by Goon
2015-07-23 06:02:12

That is a Breitbart link, and Breitbart are not real journalists (Andrew Breitbart was murdered under direct orders from King Obama, and Sharyl Attkisson is next!) and if the New York Times ignores it, then MikeyMite and the rest of the HBB’s resident Social Justice Warriors™ should ignore it too…

Comment by MightyMike
2015-07-23 07:09:55

Didn’t you see the headline? it’s something that the NYT didn’t ignore. In fact, the lazy Breitbart article is nothing but commentary on something written by an NYT journalist.

Comment by Ben Jones
2015-07-23 07:13:38

‘One of the very few Iraq War advocates to pay any price at all was former New York Times reporter Judy Miller, the classic scapegoat. But what was her defining sin? She granted anonymity to government officials and then uncritically laundered their dubious claims in the New York Times.’

‘But 12 years after Miller left, you can pick up that same paper on any given day and the chances are high that you will find reporters doing exactly the same thing. In fact, its public editor, Margaret Sullivan, regularly lambasts the paper for doing so. Granting anonymity to government officials and then uncritically printing what these anonymous officials claim, treating it all as Truth, is not an aberration for the New York Times. With some exceptions among good NYT reporters, it’s an institutional staple for how the paper functions.’


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Comment by MightyMike
2015-07-23 07:24:09

Yes, I posted a link to that yesterday. I pointed out that, if people enjoy criticizing the NYT and the rest of the MSM, it can be done with facts, not fantasy.

Also, if this shows that New York Times is unreliable and biased, why would Breitbart pay any attention to it at all?

Comment by Neuromance
2015-07-23 16:40:04

Because the “Gray Lady” is often referred to as the “Paper of Record” by many in the media.

Comment by Raymond K Hessel
2015-07-23 17:15:24

What they mean is “The Oligopoly Mouthpiece of Record.”

Comment by 2banana
2015-07-23 06:12:10

2banana’s rule on politics.

Conservatives and more than happy to live under the laws and taxes they want for everyone else.

Liberals and democrats expect to exempted from the laws and taxes they want for everyone else.


One state that should be shopping around for a new attorney general is Pennsylvania. Attorney General Kathleen Kane seems to treat the office as a combination PR agency and trial lawyer slush fund.

Trial lawyers and their cohorts in the attorney general offices are going after legitimate businesses for political gain. Linda Singer persuaded Kane to bring a case against a Pennsylvania-based nursing home chain. The initial evidence in bringing the case forward was based on what the New York Times says is “a software program, that estimated resident harm based on the ratio between nurse’s aides and residents.”

Kane is mentioned in the New York Times story about courtroom cronyism and is currently under investigation for leaking classified grand jury information to the press, and then lying about doing so. Indictment charges could include perjury, false swearing, and obstruction of justice. If there’s a minimum requirement for a state’s highest legal advisor and chief law enforcement officer, it should at least be “Not a liar.”

Comment by Califoh20
2015-07-23 17:36:20

So you approved of the 8 yrs of Bush and the consequences we still pay for today and the next 50 yrs?

Comment by Professor Bear
2015-07-23 05:46:21

Have recent efforts to stabilize China’s state-run asset markets succeeded?

Comment by Blue Skye
2015-07-23 05:48:31

Sorry, not yet.

“There is currently no stock market right in China, there is government mandated price level in stocks. While that may stabilize the price level in stocks, as the only real market participant Beijing got its wish but now needs to figure out how to extricate itself from a mess of its own making, and keep the market buoyant. Any hint of public selling will incur enormous losses for Beijing and the state owned banks that bailed out the market. Beijing needs to sell off its purchases but right now it’s the only player in the market forcing it to negotiate with itself.”


Comment by Professor Bear
2015-07-23 06:27:38

What does China’s stock market crash tell us?
22 July 2015
From the section Business

It was up 150% until June. Then it fell by nearly a third. Then it had the strongest two-day rise since the 2008 global crisis.

China’s rollercoaster stock market has provoked panic in recent weeks: panic on the part of small investors, who looked on in horror as previous gains were wiped out, and panic - some would argue - on the part of the Chinese government, which did everything it could to stop the slide.

Lending rules were relaxed, making it easier for people to borrow money for investment. Investors holding stakes of more than 5% in companies were banned from selling shares in the next six months, and about 1,300 firms halted trading in their stocks to prevent the value of their businesses falling further.

Four expert witnesses analyse what these dramatic events reveal about China itself for the BBC World Service Inquiry programme.

Comment by azdude
2015-07-23 07:00:15

central banks like to keep folks paying artificial prices for assets?

That’s my take.

Comment by Dman
2015-07-23 06:28:00

From my other post:

““The Chinese authorities have tried to counter the slowdown by talking up an irresponsible stock market boom in the state-controlled media. This has been a fiasco of the first order.”

“Half the shares traded in Shanghai and Shenzhen were suspended. New floats were halted. Some 300 corporate bosses were strong-armed into buying back their own shares. Police state tactics were used hunt down short sellers. We know from a vivid account in Caixin magazine that China’s top brokers were shut in a room and ordered to hand over money for an orchestrated buying blitz. A target of 4,500 was set for the Shanghai Composite by Communist Party officials. ”

And if you don’t report 7% growth in your province they break your thumbs.

Comment by Get Stucco
2015-07-23 06:32:35

Stock Downturn Hits Chinese Investors in the Heart, Not Just the Wallet
点击查看本文中文版 Read in Chinese
JULY 22, 2015
Stock investors playing cards at a brokerage house in Beijing.
Credit Gilles Sabrie for The New York Times

HONG KONG — Farmers turned village community centers into makeshift trading floors. Young workers quit low-paying jobs to play the market full time. Retirees started investment clubs, counseling one another on stock picks.

China fell under the spell of the stock market over the last year, as millions of factory owners, university students, wheat growers and other investors jumped at a chance to strike it rich.

“When we eat breakfast, we think of the stock market. When we sleep, we see flashing red and green screens,” said Elizabeth Xu, 37, a customer service supervisor at an electronics company in Shanghai, who invested $2,500 last fall. “This is our new sport.”

But with the market stumbling in recent weeks, investors are now engaged in a national game where the risks are increasingly outweighing the rewards.

That reality has prompted reflection among some traders, and it has touched off a wider debate about wealth in a society caught between the proud egalitarianism of its socialist past and the lure of capitalist riches. Some Chinese citizens have taken to social media to question the amount of attention devoted to the market and to criticize what they describe as an unhealthy materialist tendency in society.

“The stock market is all about filling your pockets,” said Zhou Lian, 32, a visual artist in Beijing who wrote a critical post on WeChat, a popular mobile messaging application. “Is that what we want to stand for?”

A recent opinion article in China Daily, a state-run newspaper, warned, “It is dangerous to play with greed.”

Cheered on by relatives, co-workers and rapturous headlines in the state-run news media, ordinary investors in China helped stoke a remarkable rally over the last year. With easy access to loans for trading, individual investors opened more than 38 million stock accounts in the second quarter, compared with nine million in all of 2014.

The lure of the stock market reflects broader cultural influences. Many people in China prize financial prudence, and the savings rate is among the highest in the world. But many Chinese also believe passionately in the power of luck, and China has a long history of high-stakes betting.

Gambling is widespread and often considered a social activity; mah-jongg games are common on street corners, and the lottery is a popular pursuit.

The intense interest in the stock market, in some ways, grew out of those habits. Many investors entered the market with lofty dreams — finally, they would have the money for an exotic vacation, an engagement ring or a new home.

Amateur traders turned to numerology, long a fixture of Chinese culture, to pick the best investments. Some purchased prayer beads made especially for investors, hoping to conjure good luck.

In Shaanxi Province in northern China, rural workers wishing for an early retirement began investing after seeing chatter on social media sites about the “mad cow market,” as it is sometimes called. They were encouraged by reports this spring in The People’s Daily, the flagship paper of the Communist Party, which trumpeted the seemingly never-ending bull market.

In Nanliu, a small town in Shaanxi, workers set up computers so that they could track stock purchases. “Everyone wants a chance to improve their lives, even if they only get a little piece of meat,” said Zhang Li, a longtime resident who invested several hundred dollars.

But greed has long been viewed as a particularly dangerous quality in Chinese culture.

The ancient scholar Xunzi, in describing the bad nature of human beings, cited a love of profit as his first piece of evidence, noting its ability to cause chaos and a lack of cooperation. Mencius, another ancient Chinese philosopher, warned against acquiring showy material possessions.

The early Confucian view, said David Wong, professor of philosophy at Duke University, was that “income, wealth, material possessions and social prestige are necessary only up to the point where they enable one to pursue goods that are of much greater value.”

“The human tendency to lose focus on that priority,” Mr. Wong said, “is perhaps the primary cause of our loss of connection to and care for each other.”

The financial pain for Chinese households has not been pervasive, since stocks are still not broadly held by families. The major indexes, too, have recovered somewhat in recent days, after the government aggressively moved to prop up stocks.

But the recent volatility has unsettled investors as they grapple with not only the financial toll but also a loss of the day-to-day emotional rush that underpinned the trading culture.

In some areas, retirees have made a habit of watching the market’s movements together, finding solace in collective cursing and celebration. At a brokerage house in downtown Beijing last week, retirees gathered before large stock boards, playing cards and assessing how much money they had lost in recent weeks.

One man said he was down about $10,000. “We’ve all lost money,” he said, growing irritated. “Everybody’s pretty much the same.”

At another brokerage house, a 70-year-old man who gave only his surname, Wei, said he had lost about $30,000.

“My wife blamed me, but is it of any use?” he said. “This is money we could have left to our son. But what else can I do? The damage is done.”

Mr. Wei had been investing in the market since 2008 but said he was devastated by the recent losses.

“I have lots of anger inside me,” he added. “It’s just never easy for us ordinary people to make money.”

Despite the volatility, Lu Wenjie, an analyst at UBS in China, said that many investors were likely to stay in the market.

They are kind of stuck,” he said. “They are reluctant to record losses, and some of them will even try to add money in the coming weeks and bet on a rally.”

The turbulence has rattled some traders, especially those unaccustomed to the ups and downs of the market. In China, some doctors have taken to calling it stock market anxiety syndrome.

Academics have warned about the psychological effects of fluctuations in share prices. A study by Taiwanese researchers last year found that falling stock prices correlated with increased hospitalizations for mental health disorders. When a stock index fell for five consecutive days, for instance, hospitalizations increased by 1.6 percent.

Yan Zhengwei, a Shanghai psychologist, said he had recently seen several patients who told him they were depressed by the market, including a client who lost more than $1.6 million.

“They say they are fine, but they’re just saying it,” Mr. Yan said. “It’s a lot of money, after all.”

But Mr. Yan said there was a silver lining. Counseling sessions for couples had recently turned remarkably civil, he said, as husbands and wives found a common enemy in the market.

“When a major blow came, they actually stopped blaming each other and both blamed the market,” he said. “It’s like they had both become victims.”

Xue Wei, chief psychologist at Linzi Counseling Center in Shanghai, said the popularity of the stock market reflected a deeper insecurity in society. He said that Chinese people were accustomed to having a fixed social status under the Communist system. Now, he said, many people are looking to the stock market to define their worth.

“They are very insecure inside,” he said. “They think if they can achieve financial stability in a short period of time, they will feel more secure.”

For some investors, the round-the-clock trading has placed a strain on relationships.

At the height of the downturn this month, Wang Xiaoming, a 23-year-old bank attendant, had a dilemma: celebrate his girlfriend’s birthday or try to salvage his portfolio? Mr. Wang, who had invested $2,000, about a fifth of his savings, chose the portfolio. His girlfriend quickly scolded him for “only having numbers on my mind,” he said. After that, he promised to spend less time checking stock market chat forums. (He currently belongs to six.)

“It’s hard to find the right balance,” Mr. Wang said.

Comment by In Colorado
2015-07-23 10:58:23

One man said he was down about $10,000. “We’ve all lost money,” he said, growing irritated. “Everybody’s pretty much the same.”

At another brokerage house, a 70-year-old man who gave only his surname, Wei, said he had lost about $30,000.

Have these people lost that much from their initial investment, or from unrealized gains? They never seem to mention that.

Comment by Professor Bear
2015-07-23 19:52:47

Given the miracle of margin loans to finance leveraged stock market gambles, many are underwater on their initial investments.

This works by the same mathematical principle as a low down payment mortgage-financed home purchase just before a housing crash.

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Comment by Get Stucco
2015-07-23 06:34:25

The plunging stock market: China’s real-time stress test
Posted on July 22, 2015 11:23:00 PM
By Andrew Sheng and Xiao Geng

THE PLUNGE in China’s stock markets, which has sent shock waves reverberating around the world, has amounted to a real-time stress test for the country. The bears, who have been predicting the Chinese economy’s downfall, are now consumed with schadenfreude. The bulls hold that, no matter how violent the stock-market gyrations may be, China’s economic success story remains intact. But, at this point, no outcome is certain.

Comment by Professor Bear
2015-07-23 06:38:15

Chinese stock market crashes, but San Gabriel Valley doesn’t burn
Bus driver Ramoncito Batac helps load passengers’ luggage for a trip to Yellowstone National Park and Mt. Rushmore from America Asia Travel Center in Monterey Park. (Christina House / For The Times)
By Frank Shyong contact the reporter

To Jonathan Ming Ren Liu, assistant president of America Asia Travel Center, the recent Chinese stock market crash is just a distant story on his television.

On a recent weekday morning, five buses roar to life behind the travel agency’s Monterey Park office as more than 200 Chinese tourists line up to board, bound for places including Disneyland, Las Vegas and the Grand Canyon. The next day, the agency is expecting more than 600 riders.

In the weeks after China’s main stock index lost $3 trillion — nearly a third of its value — investors around the world braced for an economic earthquake.

In the San Gabriel Valley, where an influx of Chinese immigrants and money has spurred a surge in cash-offer real estate sales and an explosion of sprawling multistory strip malls covered with Chinese language signs, the web of connections to China is more extensive and integral than anywhere else in the country.

The Chinese stock market’s relative isolation and a small recovery sparked by drastic Chinese government intervention have kept immediate global damage to a minimum, and so far the main effect on Liu’s business, he said, has been enlivened office gossip.

But concerns about the Chinese economy’s long-term stability have left some economists and investment gurus jittery.

The San Gabriel Valley’s booming tourist business is where market reverberations pose the most likely short-term threat, experts say.

Chinese visits to Los Angeles County exploded in the last few years, said Sheena Yu, director of China Services for the Los Angeles Tourism & Convention Board. The county saw 686,000 tourists from China in 2014, a 20% increase from 2013. Another record high is expected this year.

Chinese tourism and the investment it encourages have driven up housing prices and spurred development even during the recent recession. The San Gabriel Valley’s tourism and hospitality sector added nearly 4,000 jobs last year, according to the Los Angeles County Economic Development Corp. More than a dozen hotels are under construction or proposed in Chinese enclaves across the region.
Travelers board a bus at America Asia Travel Center in Monterey Park. Tourism is still going strong in the San Gabriel Valley despite the Chinese stock market crash.

Recent regional tourism surveys don’t show any signs of a slowdown yet, in part, because vacations are booked months in advance, Yu said.

But China’s stock losses fell primarily on small, middle-class investors, who form a large proportion of the tourism market, and the airline industry is watching closely, said Zhihang Chi, vice president and general manager of Air China’s North America division.

“We’re not really sure what will happen, but we know for sure it’s not a good thing,” Chi said. “With such a big loss of wealth, travel tends to be the first thing cut.”

Comment by Professor Bear
2015-07-23 06:41:18

Mirror Mirror
China’s looming stock market disaster is part 1929 America, part 1989 Japan
Wall Street in trading panic - Crowds stand on the top of the Sub Treasury Building across the street from the New York Stock Exchange when collapse of the market was reported due to heavy trading, Oct. 24, 1929.
Crowds gather across the street from the New York Stock Exchange as the market crashed on October 24, 1929.
Written by Gwynn Guilford
China’s Transition
July 22, 2015

China’s epic stock market boom—and impending bust—is like déjà vu all over again. The stock rally that began last year bears a striking resemblance to the credit-fueled American stock bonanza of the late 1920s. It also, however, has much in common with the Japanese market frenzy in the twilight of the 1980s. The uncanny similarities of both episodes also hint at what might await China when its market finally returns to reality.

Wall Street, 1929

Industry was pumping. Construction was booming. Dizzying leaps in technology were boosting living standards and giving rise to vibrant consumerism. That’s what set the scene to the epic American bull market of the late 1920s. But that description fits China of the last decade just as well. Here are some of the similarities between what’s happening now in China and the US in the lead-up to the epic Wall Street crash:

Comment by Professor Bear
2015-07-23 19:44:25

Marketwatch dot com
Emerging Markets Report
The true cost of China’s multibillion-dollar market intervention
By Sue Chang
Published: July 23, 2015 5:16 p.m. ET
Beijing estimated to have spent 10% of GDP to support market

As the Shanghai Composite Index dove and panic sales spread, the Chinese government spent billions of dollars to soothe battered sentiment and shore up the stock market. But China may eventually end up paying a much higher price from delayed reforms and a distorted stock market, analysts say.

For now, the throw-everything-at-the-wall-and-see-what-sticks strategy appears to be working.

The Shanghai Composite (SHCOMP, +0.57%) rallied 2.4% on Thursday to close up for a sixth session, a stark contrast to its roller coaster ride earlier this month.

Between the end of June and early July, the Chinese government announced at least 40 measures to prop up the market, including an interest-rate cut by the central bank and establishing a stabilization fund to outright buy stocks.

All together, Chinese authorities are estimated to have mobilized as much as 5 trillion yuan, almost 10% of the gross domestic product, to halt panic sales, Reuters reported.

But such drastic tactics, while effective in the short term, could discourage foreign investors’ participation in the stock market and challenge China’s aspirations of becoming a global financial power.

“We know that China wants to open its capital markets to foreigners, and that will require an improvement in standards.” said Nigel Green, chief executive of deVere Group.

Chris Konstantinos, director of international portfolio management at RiverFront Investment Group, also noted that the Chinese government’s “carte blanche” on market action could offend “democratic societies’ sensibilities.”

“I don’t believe it bodes well for China’s recent overtures toward greater transparency and the prospects for attracting a more global shareholder base for Chinese shares,” he said.

Earlier this week, Bridgewater Associates LP, the world’s largest hedge fund, warned its investors that China’s market turmoil will have broad repercussions, a dramatic reversal from its usual bullish stance on the country, The Wall Street Journal reported.

Bridgewater joins a growing list of hedge-fund mangers who have turned more bearish on China in recent weeks, including Elliott Management Corp.’s Paul Singer and Pershing Square Capital Management LP’s Bill Ackman.

“The rise and fall of the market over the past year may well have convinced many investors that the market is simply not a reliable investment vehicle,” said analyst Michael Spencer at Deutsche Bank in a report. “Quite clearly, the reform objective of allowing the market to play a decisive role in allocating capital has suffered a setback.”

The state-sponsored buying of stocks is also creating an overhang, which the government will eventually have to tackle.

“Hong Kong resolved it by putting the shares they bought into a fund, restructured it to replicate the index and sold it gradually as the Tracker Fund. China could do the same. But it’ll depress the market for some time,” he said.

With the outlook on the market so uncertain, only contrarian investors with a high tolerance for risk should consider buying into Chinese stocks and, even then, limit their exposure to H-shares, according to Konstantinos.

H-shares are stocks of mainland Chinese companies trading on the Hong Kong stock exchange.

Comment by Raymond K Hessel
2015-07-23 05:47:22

Establishment GOP leaders upset Trump could “harm the GOP brand.” As if being toadies to Wall Street, the corporations, the open borders crowd, and the neo-cons is helping?


Comment by palmetto
2015-07-23 06:02:46

Lol, the geldings are neighing and whinnying and snorting in their corral.

Comment by Raymond K Hessel
2015-07-23 17:18:46

More like, the monkeys are slinging poop while their oligarch organ grinders frantically deploy their media border collies to try to herd the sheep back into their enclosure.

Comment by Pangolin
2015-07-23 06:15:19

I do like that there is a split of opinion on this blog about whether Trump helps or hurts Hillary. Those currently still asleep til noon sometimes say he is helping her, but they also show they are scared, which doesn’t really make sense (except that he’s bad for any establishment crony).

Comment by palmetto
2015-07-23 06:31:12

JMO, but the helping Hillary thing is just a meme put out by both neocons and desperate dems to get the sheeple back in their pens. “Hillary” has long been the favorite boogeyman of the neocons, a bedtime story to frighten the party faithful. “if you don’t toe the line, Hillary’s gonna getcha, booowaahaha!”

Oh, gee, I’m sooooo scared. Frankly, she couldn’t possibly do any worse than Obama or even Bush.

The thing is, the Don seems to be pulling from BOTH parties and why not?

Comment by Raymond K Hessel
2015-07-23 06:45:05

Since there’s not a dime’s worth of difference between Hillary and Jeb, and since Scott Walker is a neo-con loon and Wall Street f-er just like John McCain, invoking Hillary as our next president doesn’t frighten me one bit. A vote for Trump is the best way to flip up the Establishment GOP “leadership” that has been throwing the Republican base under the bus for decades now. F*** them and their Hollow Man clown car candidates.

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Comment by Goon
2015-07-23 07:05:03

I really like where this is going

There are more millennials (BARF) than there are boomers now, and there needs to be a new conservative party with no neocons, against illegals, and pro 2nd Amendment

Regarding the culture wars, perhaps leave marijuana and abortion up to the states, but eliminate federal funding for abortion

There is no perfect solution, but I’m sick of neocon wars

Comment by MightyMike
2015-07-23 07:12:48

People under 30 tend not to vote much.

Comment by Califoh20
2015-07-23 10:47:53

People under 30 are concerned about global warming as they will be around to pay the price. The 75 yr olds dont care.

Comment by Puggs
2015-07-23 15:42:23

So drive less, walk more and evangelize.

Eat local.

Comment by Califoh20
2015-07-23 17:32:15

People cutting back alone wont solve it.

Major energy sources and percent share of total U.S. electricity generation in 2014:

Coal = 39%
Natural gas = 27%
Nuclear = 19%
Hydropower = 6%
Other renewables = 7%
Biomass = 1.7%
Geothermal = 0.4%
Solar = 0.4%
Wind = 4.4%
Petroleum = 1%
Other gases < 1%

Comment by nhtransplant
2015-07-23 06:41:58

McConnell and Boehner have almost irrevocably tarnished the brand since the ‘14 election. Trump may be the only one who can revive it at this point.

Comment by palmetto
2015-07-23 07:53:40

heh, GWB, Cheney and Rove weren’t too shabby at tarnishing the “brand”, either. I’m not sure the Republican farty is worth saving, but if anyone can do it, Trump could.

These Republican geldings must be blind as well as neutered. There’s $500 bills being scattered all around them and they’re too dumb to pick them up. Well, they don’t call it the stupid party for nuthin’.

Comment by Ben Jones
2015-07-23 08:35:05

In the past I found myself wanting the Democrats to protect me from the Republicans and vice versa. It’s about all the democracy we have. The other day I heard this guy on the radio say the Dems had become a liberal party and the Repubs a conservative party, where on used to favor business and the other labor.

This would seem to jive with when they coalesced around globalism. They no longer need labor or small business. Free of that, both can push illegal immigration and off-shoring. I can remember when there were liberals and conservatives in both parties.

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Comment by 2banana
2015-07-23 10:16:15

Free of that, both can push illegal immigration

obama wants illegal immigration
democrats wants illegal immigration
and according to you, the republicans want illegal immigration.

So why hasn’t it PASSED?

Comment by MightyMike
2015-07-23 10:31:08

How could illegal immigration be passed? If a law permitting some type of immigration was enacted, it would no longer be illegal.

Comment by Ben Jones
2015-07-23 10:37:25

It hasn’t passed because of the tea party, a faction the Republican party has worked very hard to marginalize.

Comment by palmetto
2015-07-23 10:46:48

“In the past I found myself wanting the Democrats to protect me from the Republicans and vice versa”

There must be something about this having to do with accountancy, because my accountant told me he always splits his ticket, since he wants the two parties wrestling each other to a stalemate, figuring it’s the safest thing for a voter.

However, if there’s one thing this whole Trump show has demonstrated, it’s how much the two “parties” are just branches of one globalism-favoring party, with the factions bargaining for this or that, just to make it look good. For now, one faction is standing back, to see if the other will bring Trump down first and spare them the trouble.

Comment by Dman
2015-07-23 06:09:10

Oh dear:

“Capital exodus from China reaches $800bn as crisis deepens”

“the underlying picture in China is going from bad to worse.”

“Charles Dumas at Lombard Street Research says capital outflows – when will we start calling it capital flight? – have reached $800bn over the past year. These are frighteningly large sums of money.”

“The Chinese authorities have tried to counter the slowdown by talking up an irresponsible stock market boom in the state-controlled media. This has been a fiasco of the first order.”

“Half the shares traded in Shanghai and Shenzhen were suspended. New floats were halted. Some 300 corporate bosses were strong-armed into buying back their own shares. Police state tactics were used hunt down short sellers. We know from a vivid account in Caixin magazine that China’s top brokers were shut in a room and ordered to hand over money for an orchestrated buying blitz. A target of 4,500 was set for the Shanghai Composite by Communist Party officials. ”

Now that’s what I call good news.

Comment by 2banana
2015-07-23 06:26:46

So where is the money going????

Not to US Treasuries (the traditional “safe” haven) - the Chinese are dumping those too.

Comment by redmondjp
2015-07-23 09:34:56

West-coast real estate, for one thing.

Comment by Mafia Blocks
2015-07-23 18:57:02

Well… not really. Not at all.

Remember…housing demand is at record lows.

US Housing Demand Plunges To 20 Year Low


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Comment by In Colorado
2015-07-23 15:42:40

Not to US Treasuries (the traditional “safe” haven) - the Chinese are dumping those too.

Chinese banks are dumping them, because they are the ones who hold them. Individuals are probably stashing their money in US bank accounts, mutual funds and of course real estate.

Comment by Professor Bear
2015-07-23 20:11:07

Caixin China PMI drops sharply, surprising markets
Leslie Shaffer
24 Mins Ago
A worker stands on piles of industrial products before exporting, at a port of Lianyungang, China, July 13, 2015.
China Daily | Reuters

The preliminary China Caixin purchasing managers index (PMI) surprised markets by dropping to a 15-month low in July, with analysts pinning the hit on the recent stock market crash and weak export demand.

The index, released Friday, fell to 48.2, coming in well below the 49.7 forecast from a Reuters poll and the 50-mark separating growth from contraction.

“The PMI came as a big surprise for the market, which was expecting an increase,” Dariusz Kowalczyk, senior economist at Credit Agricole private bank, said. “I believe the reading reflects the negative impact of the stock market crash, the weaker outlook for consumption and the worsening of availability of funding for investment,” he said, noting that initial public offerings (IPOs) were suspended in the wake of stock market turmoil.

Comment by Goon
2015-07-23 06:10:06

Speaking of Texas, some rando article linked from Google News notes that 36% of Texas women between the ages of 18 and 34 don’t have health insurance, LOLZ

Comment by 2banana
2015-07-23 06:21:31

How many are illegal?


Comment by Califoh20
2015-07-23 10:55:19

Probably all, since Texas is a Red state with Perry at the helm. What what the do, not what they say they stand for.

Comment by Ben Jones
2015-07-23 12:07:42

Perry isn’t the governor anymore.

‘What what the do’

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Comment by palmetto
2015-07-23 12:23:51

‘What what the do’

At first I thought that was some sort of Perryism, and then I read the post above.

Geez, for some reason that struck me so funny, I’m still having fresh bursts of laughter.

Comment by Puggs
2015-07-23 15:51:50

Do the dew.

Comment by AmazingRuss
2015-07-23 18:49:48

Alzheimer’s speak.

Comment by 2banana
2015-07-23 06:17:57

Note: Article from the Drudge Report (I know the unspoken rules).

Not spoken in this article: NO ONE who works wants to live under long term democrat controlled cities with their public union goons, insane taxes, high crime rates and failing schools.

The new immigrant FSA will move to these cities for their FS and will vote the proper way.


These Are the Top 20 Cities Americans Are Ditching

New York City, Los Angeles, Honolulu: They’re all places you would think would be popular destinations for Americans. So it might come as a surprise that these are among the cities U.S. residents are fleeing in droves.

The map below shows the 20 metropolitan areas that lost the greatest share of local people to other parts of the country between July 2013 and July 2014, according to a Bloomberg News analysis of U.S. Census Bureau data. The New York City area ranked 2nd, losing about a net 163,000 U.S. residents, closely followed by a couple surrounding suburbs in Connecticut. Honolulu ranked fourth and Los Angeles ranked 14th. The Bloomberg calculations looked at the 100 most populous U.S. metropolitan areas.

Interestingly, these are also the cities with some of the highest net inflows of people from outside the country. That gives many of these cities a steadily growing population, despite the net exodus of people moving within the U.S.

So what’s going on here? Michael Stoll, a professor of public policy and urban planning at the University of California Los Angeles, has an idea. Soaring home prices are pushing local residents out and scaring away potential new ones from other parts of the country, he said.

And as Americans leave, people from abroad move in to these bustling cities to fill the vacant low-skilled jobs. They are able to do so by living in what Stoll calls “creative housing arrangements” in which they pack six to eight individuals, or two to four families, into one apartment or home. It’s an arrangement that most Americans just aren’t willing to pursue, and even many immigrants decide it’s not for them as time goes by, he said.

Comment by Selfish Hoarder
2015-07-23 06:31:22

8 people to a house.

My sister experienced that in the 1980s in Santa Barbara. Houses turned into rentals for multiple unrelated people. She could not otherwise afford living there.

So far in South Orange County this is not happening.

Comment by Goon
2015-07-23 06:43:55

Bill, as I have posted before, the way to WIN at renting when living in an urban area is to live in a building that has only one bedroom or studio apartments, and that is capped (and strictly enforced) at no more than two occupants per unit.

No parties, no kids, no noise. My only problem is running out of space to store all the cash I’m not flushing down the toilet on an overpriced rotting pile of sticks and bricks.

“So much cash, gotta keep it in Hefty Bags” — Ice T, New Jack Hustler

Comment by Selfish Hoarder
2015-07-23 08:18:41


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Comment by rj chicago
2015-07-23 08:22:22

Especially on the hillsides up above said SB. I was in school there in the early eighties - we called it the town of the nearly weds and the nearly deads for a reason. They were the only ones who could afford to live there.

Comment by Califoh20
2015-07-23 10:51:35

SB, i lived there for 8 yrs in a rental, on 1 acre, high on the hill with ocean/island views and I could here the mission bells. Roommates included, but plenty of space for all. The last year of my rental it was about $500 less than the market rate, the owner had it free in clear and lived an hour away. He did not want to be bothered.

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Comment by Dman
2015-07-23 06:38:45

“Not spoken in this article: NO ONE who works wants to live under long term democrat controlled cities with their public union goons, insane taxes, high crime rates and failing schools.”

Exactly, so why did you even bother posting the article?

“So what’s going on here? Michael Stoll, a professor of public policy and urban planning at the University of California Los Angeles, has an idea. Soaring home prices are pushing local residents out and scaring away potential new ones from other parts of the country, he said.”

So the article is actually saying that people do want to live in these cities, they just can’t afford it. Why don’t you post an article about people rushing to live in red states where their kids can be taught about creationism and licking the boots of billionaires?

Comment by nhtransplant
2015-07-23 06:48:23

You’re reading what you want in to that. I agree house prices are a factor but you added that bit about “people want to move there but…” yourself. You’re falling for the either/or fallacy when all you’re really doing is adding another factor in to the equation, not refuting what 2bananas said.

Comment by MightyMike
2015-07-23 07:18:02

The article does say that’s high housing costs, not unions, pushing people out. It’s not at all a stretch to conclude that fewer would leave if housing costs were lower.

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Comment by 2banana
2015-07-23 08:05:31

And fewer people would leave if taxes were lower

And fewer people would leave if there were not so many failing schools

And fewer people would leave if crime was not out of control

What are cities going to do if sky high housing price ever come back down? They are addictted to high property taxes based on high proprty valued to pay for their public union goons.

Comment by WPA
2015-07-23 08:28:26

Yeah, all those city people fleeing need to go someplace where the schools are failing and the roads are potholed because of lack of revenue, like Kansas.

Comment by Cracker Bob
2015-07-23 06:54:51

Are you saying Adam & Eve are not our grandparents?

Comment by ComfortableClass
2015-07-23 06:20:41

I have to admit, I am a member of the Comfortable Class. I’ve been working long enough to have a good job making good money by most people’s standards. It is pretty secure absent the whole shebang going to hell in a hand basket. I don’t work too hard anymore. I feel like George Jefferson who finally got up that hill.

Why would I want to upset the apple cart?

Comment by 2banana
2015-07-23 06:23:10

What beginning of what happens when you run out of OPM.


Social Security disability benefits may be cut in 2016
The Colombus Dispatch | Thursday July 23, 2015 | By Stephen Ohlemacher & Ricardo Alonso-Zaldivard

WASHINGTON — The 11 million Americans who receive Social Security disability benefits face steep cuts next year, the government said on Wednesday.

The trustees who oversee Social Security and Medicare said the disability trust fund will run out of money in late 2016. That would trigger an automatic 19 percent cut in benefits, unless Congress acts.

The average monthly benefit for disabled workers and their families is $1,017. The typical beneficiary would receive $193 less per month.

In more bad news for beneficiaries, the trustees project that there will be no cost-of-living increase in benefits at the end of the year. It would mark only the third year without an increase since automatic adjustments were adopted in 1975.

Comment by rms
2015-07-23 07:27:15

“Social Security disability benefits…”

…the latest long-term unemployment program.

Comment by In Colorado
2015-07-23 07:50:33

The average monthly benefit for disabled workers and their families is $1,017. The typical beneficiary would receive $193 less per month.

That’s a princely sum. I don’t think you could pay the rent in most metros with that.

Comment by 2banana
2015-07-23 06:25:28

Hope and change.

It was just not the change you were looking for.


Under Obama, Blacks Are Worse Off — Far Worse
Townhall.com | July 23, 2015 | Larry Elder

Ninety-five percent of black voters in 2008 voted for then-Sen. Barack Obama. Surely a “progressive” black president would care about, empathize with and understand black America in a way no other president ever has or could, right? Exit polls from Pew Research show that 63 percent of all voters — and 65 percent of Obama voters — cited the economy as the number one reason they voted for him. Iraq was a distant second at 10 percent. Even for black Obama voters, “It’s the economy, stupid.”

In 2009, when Obama took office, the black poverty rate was 25.8 percent. As of 2014, according to Pew Research Center, the black poverty rate was 27.2 percent.

CNNMoney says, “Minority households’ median income fell 9 percent between 2010 and 2013, compared to a drop of only 1 percent for whites.” The Financial Times wrote last October: “Since 2009, median non-white household income has dropped by almost a 10th to $33,000 a year, according to the U.S. Federal Reserve’s survey of consumer finances. As a whole, median incomes fell by 5 percent. But by the more telling measure of net wealth — assets minus liabilities — the numbers offer a more troubling story.”

The Financial Times said: “The median non-white family today has a net worth of just $18,100 — almost a fifth lower than it was when Mr. Obama took office. White median wealth, on the other hand, has inched up by 1 percent to $142,000. In 2009, white households were seven times richer than their black counterparts. That gap is now eightfold. Both in relative and absolute terms, blacks are doing worse under Mr. Obama.” Remember, these numbers apply to all “non-whites.” For blacks, it’s worse.

In 2009, black unemployment was 12.7 percent, and by 2014, it had fallen to 10.1 percent. This sounds like good news until one examines the black labor force participation rate — the percentage of blacks working or seeking work. It’s the lowest since these numbers have been recorded.

According to Harvard University’s Joint Center for Housing Studies, the picture is ugly: “Millions of homeowners, particularly in minority and high-poverty neighborhoods, are still underwater on their mortgages, while millions more renters have been forced to live in housing they cannot afford or is structurally inadequate. And with the ongoing growth in low-income households, housing assistance reaches a shrinking share of those in need. … Homeownership rates have fallen six percentage points among black households — double that among white households. … More than 25 percent of mortgage homeowners in both high-poverty and minority neighborhoods were underwater — owing more than their homes are now worth — in 2013. This rate is nearly twice the shares in either white or low-poverty neighborhoods.”

The chairman of the Congressional Black Caucus, Rep. Emanuel Cleaver, D-Mo., in 2011, complained about the economic plight of Black America. He said, “If (former President) Bill Clinton had been in the White House and had failed to address this problem, we probably would be marching on the White House.”

Comment by Raymond K Hessel
2015-07-23 06:36:06

Stupid is as stupid does.

Comment by aNYCdj
2015-07-23 06:53:57

and the low information voters think white people want them back into slavery….how utterly clueless

Comment by Cracker Bob
2015-07-23 06:58:31

So what you are saying is….If you are white, then Mr. Obama has been a great president.

Comment by Dman
2015-07-23 07:42:39

Yes, that appears to be exactly what he’s saying.

Comment by redmondjp
2015-07-23 09:37:24

Rich and white. Or rich and any other race. Lots of rich immigrants in my nabe think that things are simply grand right now.

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Comment by Professor Bear
2015-07-23 06:44:39

Wall Street share prices are looking rather plungy early on today. Is a good opportunity for dips to buy right around the corner?

Comment by Professor Bear
2015-07-23 10:56:20

Why is Mr. Market so crotchety today on basically no news?

Comment by phony scandals
2015-07-23 06:45:16

Napolitano at immigration hearing: US borders have ‘never been stronger’

By Jordy Yager - 02/14/13 12:30 AM EST

Homeland Security Secretary Janet Napolitano insisted Wednesday that U.S. borders have “never been stronger” during a Senate hearing on immigration reform.

“I often hear the argument that before reform can move forward, we must first secure our borders,” Napolitano said at the Senate Judiciary Committee’s first hearing on immigration reform.

“But too often, the ‘border security first’ refrain simply serves as an excuse for failing to address the underlying problems. It also ignores the significant progress and efforts that we have undertaken over the past four years. Our borders have, in fact, never been stronger.”

thehill.com/…/senate/282845-napolitano-says-us-borders-have-never-been-stronger - 165k -


Infowars Catches Border Drug Smuggling Operation On Camera …
http://www.youtube.com/watch?v=WwtiaHuMc7M - 306k -

Comment by 2banana
2015-07-23 08:07:44

If you like your health insurance - you can keep your health insurance

Comment by redmondjp
2015-07-23 09:38:43

If you like your open borders, you can keep your open borders.

Comment by Califoh20
2015-07-23 10:56:48

brain required

Comment by Puggs
2015-07-23 15:45:02

Math required.

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Comment by rj chicago
2015-07-23 08:41:30

And the yutes who call me from the UCSB alumni association wonder why I have NO interest in continuing my membership or providing donations to the U of C. Took one of ‘em to task a while back when I posed a simple question…..
Question: Do you have an idea of how much Big Sis’s predecessor provided to political campaigns?
Answer - no.
Question: Are you aware the U of C staff is providing funds to national political campaigns?
Answer - no.
My response - Wake the F… up - U of C staff and employees (some of whom are alumni) have contributed in several races with well over 1 mil to Dem Nat. Committee / Otrauma etc and a fraction of that to the opposition. In other words your chancellor is using YOUR funds through her salary to finance political campaigns - Until that changes I will not send one thin dime more to the U of C. Have a NICE day…goodbye!!!


and then this little ditty - As an INSTITUTION it is not allowed but via salaries paid to professors, admins, and even the janitors - University funds go to predominantly Dem candidates.

The University of California does not make any financial contributions to presidential campaigns or to candidates for local, state or federal office.
As a non-profit institution of public higher education, UC does not have a Political Action Committee (PAC), and as a matter of law and policy does not make financial contributions. However, individuals who are employed by the university are permitted by law to make
campaign contributions using their own personal funds. They may contribute individually to campaigns of their choosing. The university does not encourage its employees to make political contributions and has no knowledge of individual political contributions.
The Federal Election Commission (FEC), which oversees campaign finance and reporting laws at the federal level, requires candidates for federal office to collect and report data about contributors including the name, address, employer, and contribution amount.
In reports filed by an individual campaign with the FEC, the University of California may appear in the field for employer. This is because an employee may have contributed independently, not the university itself. The FEC’s website is http://www.fec.gov/.
Sometimes organizations that track campaign contributions, such as http://opensecrets.org, take the official data provided by the FEC about campaign contributions and report by demographic breakdown, such as by industry or employer. This type of data tracking and
bundling can be misleading because it implies that the company or entity supports the candidate in question and provided the funds. In fact, the listing merely means that a particular group of contributors happens to work for the listed entity. (My comment to this last sentence - REALLY? - The propaganda is just laughable).

Comment by MightyMike
2015-07-23 10:24:29

So you interrogated those undergraduate kids, asking them if they knew how UC employees spent their salaries? Then you told them that you wouldn’t be contributing because you didn’t like how those employees spent their money? You really taught them something that day, didn’t you - something that they will never learn from those darn professors.

Comment by SFBayArea
2015-07-23 10:29:20

R J I sincerely don’t understand your beef. Maybe you can enlighten me. It sounds like UC obeys the law and does not contribute to PACs or candidates. That fact the staff at UC are politically left leaning and politically active in making contributions should not be a surprise to anyone who has attended a UC campus. I recall all the union strikes by grad students at Berkeley shutting down my classes for example. But these are individuals and don’t we want to support individuals having a say in government? As long as UC itself is staying out of the game I’m fine with it.

Comment by Raymond K Hessel
2015-07-23 17:28:42

In 2008, the severely mentally handicapped somehow thought a candidate backed by George Soros and Goldman Sachs would somehow bring “change we can believe in.” The same ‘tards believe Hillary when she calls herself a champion of the middle class. As always, follow the money and see who bought and paid for “your” representative or candidate. Hint: It’s a big club, and you ain’t in it.


Comment by TBoom
2015-07-23 11:49:52

Comment by phony scandals
2015-07-23 06:45:16

Napolitano at immigration hearing: US borders have ‘never been stronger’

Comment by Raymond K Hessel
2015-07-23 07:16:03

Chinese electricity consumption drops to 30-year low. B..b..but ABQ Dan and the Chinese (fake) statistics said the economy is expanding!


Comment by Blue Skye
2015-07-23 08:46:06

It is important to distinguish between growth of consumption dropping and consumption dropping.

The miniscule growth in electricity production indicates China is not growing significantly.

I suspect that with all the wind farms they have been building “production” might increase even while consumption is going down.

The top dog in China told us not to believe GDP numbers, rather to look at electricity consumption.

Comment by In Colorado
2015-07-23 10:49:49

The top dog in China told us not to believe GDP numbers, rather to look at electricity consumption.

And with a “rising middle class” you’d expect those numbers to be soaring.

Here’s a little tidbit I learned about Beijing: city hall controls heating. I was told not to go there on biz in the fall as they don’t turn on the centralized heating until late November. Even the fancy hotels use the centralized system of hot water and radiators, they don’t have their own furnaces. I heard stories of freezing hotel rooms from my US based colleagues

Comment by X-GSfixr
2015-07-23 11:28:17

Had a field trip to Harbin to do temporary repairs on an airplane, to ferry it back to Wichita for permanant repairs.

In November-December.

Remember all of those old war movies about POWs freezing in winter in North Korea? Well, Harbin is NORTH of North Korea. As I pointed out to all of the Pavlovs who were drooling to go on this trip (and fulfill their “visit the Pearl of the Orient” fantasies).

Nicest hotel in town was a Holiday Inn. First thing you noticed was the five blankets on the bed. Why, you ask?

Like you said……..the heat was shut down at 11:00pm, didn’t come back on until 6:00 am.

Then you get to the hangar. Which was owned by the government, but the SINGLE electrical outlet in the hangar was owned by someone else. So you had to RENT the electrical outlet.

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Comment by Raymond K Hessel
2015-07-23 07:19:18

I’d love to see Trump launch a Third Party to contest the corporatocracy’s Republicrat Duopoly.


Comment by azdude
2015-07-23 07:31:44

how do you like the central bankers premium in your asset prices?

Comment by ComfortableClass
2015-07-23 07:40:13

Being a Silver spooned rich inheritor crony snake oil selling Boomer, Trump would normally be someone I loathe, yet I don’t. This is how far it has come, that I would embrace that just for someone who tends to call it like it is against the other oligarchs and plutocrats. Who knows, maybe he is just a planned safety valve to let out some of the steam and anger that is boiling out there.

Comment by Raymond K Hessel
2015-07-23 17:30:48

Hey Goon, can you post that link of the “Fab 15″ GOP clown car occupants, each listed as “for sale,” and then the picture of Trump with “can’t be bought”?

Comment by MightyMike
2015-07-23 17:35:10

Is your short term memory starting to fail?

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Comment by MightyMike
2015-07-23 10:07:10

A Trump third party candidacy could be entertaining, like Ross Perot was back in ‘92. Of course, what’s needed is someone at SNL to work on a good impersonation with good material. If they have someone who just puts on a wig and yells at the camera, that won’t be too funny.

Comment by palmetto
2015-07-23 10:34:11

Well, unfortunately, SNL is but a shadow of its former self. Kinda pathetic, actually. They might be able to pull it off if they can get Darryl Hammond to guest.

Comment by MightyMike
2015-07-23 11:27:24

I’ve always thought that the show has been of mixed quality, even in its best years. The great thing for them about a presidential campaign is that they can get a lot of material out of the newspapers. They don’t have to sit down and write comedy from scratch.

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Comment by redmondjp
2015-07-23 15:51:55

Trump parodies himself; who could do it any better?

Comment by phony scandals
2015-07-23 07:38:33

Maybe Hillary should get the Rachel Dolezal makeover.

MSNBC Hosts Absolutely Shocked by Clinton’s ‘Stunning’ Drop in New Poll (It’s Bad)

Mike Opelka
Jul. 22, 2015 8:59am

At MSNBC, Wednesday morning started with multiple attacks on Donald Trump, but quickly shifted focus when some new poll data showed a “stunning” problem brewing in Hillary Clinton’s campaign.

A new poll from Quinnipiac University “Q Poll” shows Mrs. Clinton with growing, negative “favorability” ratings in Iowa, Virginia and Colorado.

Comment by phony scandals
2015-07-23 07:45:17

I know someone who could do it

Rachel Dolezal works as black hair stylist after losing job as African studies professor amid racial identity controversy

BY Meg Wagner
Published: Monday, July 20, 2015, 10:40 AM

Rachel Dolezal is braiding hair to make ends meet after her racial identity controversy put her in the crosshairs.

The ex-NAACP leader — who resigned as the president of the Spokane chapter after her parents revealed she is white — lost her job as an African studies professor amid the June controversy. Eastern Washington University, where Dolezal once taught classes on the politics of black hair, did not renew the beloved professor’s contract this year, she told Vanity Fair.

So in order to provide for her 13-year-old son, she now makes her living braiding and weaving black hair, she said.

The 37-year-old Washington state mom books appointments about three times a week. Dolezal, who dons a rotation of elaborate African American hairstyles, has a passion for black hair from academic and practical standpoints, she said.

Comment by oxide
2015-07-23 18:22:46

What what, the ‘do?

Comment by Raymond K Hessel
2015-07-23 17:32:48

MSNBC Hosts Absolutely Shocked by Clinton’s ‘Stunning’ Drop in New Poll (It’s Bad)

Leave it to the Oligopoly’s out-of-touch media to completely miss the disenchantment brewing in flyover country with the kleptocracy’s Annointed Ones.

Comment by Professor Bear
2015-07-23 07:44:09

Marketwatch dot com
The Tell
Goldman’s Currie expects gold to fall under $1,000
By Victor Reklaitis
Published: July 22, 2015 10:59 a.m. ET
AFP/Getty Images

Gold on Wednesday is suffering through its 10th down day in a row, and plenty of the yellow metal’s detractors have been speaking up lately.

MarketWatch’s David Weidner says gold might rally again, but not with the same glitter due to competition from bitcoin. The Wall Street Journal’s Jason Zweig last week said gold is like a pet rock, and buying it is largely an act of faith.

Now Jeffrey Currie, head of commodities research at Goldman Sachs, has made fresh downbeat comments on gold as well, predicting it could trade below $1,000 an ounce. August gold GCQ5, +0.36% was last around $1,093 an ounce in Wednesday trading.

“We think we are in a structural bear market, not only in gold, but across the commodity complex, as the individual commodity stories are reinforcing to one another, creating a negative feedback loop,” Currie told Bloomberg News in an interview on Tuesday.

Comment by MightyMike
2015-07-23 07:47:42

Troy Goode Died After Being ‘Hogtied’ by Cops Near Widespread Panic Gig: Lawyer

A father died after being “hogtied” by Mississippi police inside an ambulance despite telling officers he was struggling to breathe, according to his family’s lawyer.

Troy Goode, 30, was taken to the hospital after traveling to a Widespread Panic concert with friends Saturday night at a showground south of Memphis, Tennessee.

The asthmatic died two hours after being placed face down on a stretcher in an incident captured on video by bystander.

“His face was buried in the mattress of the stretcher,” lawyer Tim Edwards told NBC News Monday. “There was a strap over the back of his head so he couldn’t move his head. His hands and feet were hogtied so he couldn’t move those, either.”

Goode was “intoxicated” after he and four friends took something in the parking lot before the concert began said Edwards, who declined to comment on what they may have used. “That’ll be determined by the toxicology screen,” he added. “Whatever was ingested, it was done by all five of them.”

The chemical engineer “got paranoid” and left the concert site even before the gig began. He climbed out of his wife’s car and was “in a field running in circles,” Edwards said. “There was no one around him.”

Cops saw him “running from the area acting strange and not cooperative,” Lt. Mark E. Little from the Southaven, Mississippi, Police Dept. said in a statement.

“Officers attempted to detain the subject who began to resist and run from them again,” Little added. “On our initial investigation we learned that the subject had allegedly taken some LSD in a parking lot before a concert.”

Little said officers were waiting on the results of an autopsy that was performed Monday morning which will include toxicology reports.

Edwards said that Goode had asthma but “it was controlled” through his use of an inhaler. “If it played a part [in his death], we don’t know,” the lawyer added.


Comment by 2banana
2015-07-23 08:10:27

The article maked no mention of race so he must be white.

No one cares.

Comment by X-GSfixr
2015-07-23 08:04:45

So let me get this straight……

Major US cities on the coasts are seeing the locals displaced by out of country oligarchs.

Same cities become targets for terrorist attacks, possibly creating the situation that most of the victims of such an attack would be rich foreigners and illegals.

At which point, the wretched refuse will be rallied to attack the terrorists for “attacking us”

Comment by WPA
2015-07-23 08:17:52

George Bush’s tax cuts, a notable supply side failure, added $2.6 trillion to the public debt.

Donald Trump’s proposed tax rates are far worse:

Up to $30,000, you pay 1 percent
From $30,000 to $100,000, you pay 5 percent
From $100,000 to $1 million, you pay 10 percent
On $1 million or above, your rate is 15 percent

These rates will explode the deficit to a much greater degree than it was under Bush and put the U.S. ever deeper into debt. Of course, “trickle down” true believers will mutter stuff about job creators, but we know it doesn’t work in practice.

Trump’s tax plan proves my theory correct: Trump is a 0.1% crony capitalist and a wolf in sheep’s clothing. His act is snake oil designed to draw in average Americans, but once in office, he will serve the interests of the oligarchy, make income inequality worse and shrink the middle class. His tax plan lays bare his true motivation: more money for himself and for his cronies.

Trump is the oligarchy and the oligarchy is Trump. I’m not buying his self-serving act.

Comment by palmetto
2015-07-23 09:04:24

Sigh. I guess the Hillary boogeyman meme isn’t working. So now it’s “1% crony capitalist” talking point. Yawn. What else ya got?

Comment by MightyMike
2015-07-23 10:12:11

The term crony capitalism is thrown around a lot. Do we have a definition for it? If a definition can be found, it should be pretty straightforward to determine whether it applies.

Comment by Raymond K Hessel
2015-07-23 17:34:50

If you look up “crony capitalist” in the dictionary, you’ll see pictures of Obama, McCain, Romney, and HillaryJeb.

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Comment by tj
2015-07-23 17:56:11

The term crony capitalism is thrown around a lot. Do we have a definition for it?

networking is a form of cronyism. but everyone is ok with it.

crony capitalism is just a form of corruption. don’t believe me? just try to find an example of crony capitalism that isn’t corruption.

the leftists came up with the pejorative to try to give capitalism a bad spin because they hate it.

every time you think of ‘crony capitalism’ you can just think ‘corruption’ and you’ll be further ahead.

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Comment by MightyMike
2015-07-23 18:10:18

That doesn’t help much. It’s odd that no one can furnish a more specific definition.

Comment by tj
2015-07-23 18:21:54

you probably don’t like it because i associated it with leftist distraction from corruption. they want to put the blame on capitalism.

here’s the definition of it from wiki. see anything in it you wouldn’t call corruption?

..Crony capitalism is a term describing an economy in which success in business depends on close relationships between business people and government officials. It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, or other forms of state interventionism.

Comment by MightyMike
2015-07-23 18:35:12

That’s better. I didn’t like what you wrote early because it was vague.

If we can all agree on this definition, the question of whether Donald Trump is a crony capitalist can now be addressed. Real estate development requires a lot of permits and often benefits from special tax breaks. Did he receive any special treatment from elected officials whose campaigns contributed to? If so, that would make him a crony capitalist.

Comment by tj
2015-07-23 18:41:38

to carry it a little further than wiki..

there are no close relationships in true capitalism. it’s dog eat dog.

jp morgan knew the most valuable thing he had was his reputation. that’s why he saved his customer’s banks with his own money. it wasn’t out of the goodness of his heart, it was pure dog eat dog business sense. not that it was easy to do, it wasn’t. but he had to save his rep. that was true capitalism to the rescue.

Comment by tj
2015-07-23 18:47:08

should have said ’saved his customer’s bank accounts’..

firs correction..

Comment by tj
2015-07-23 18:53:18

Did he receive any special treatment from elected officials whose campaigns contributed to? If so, that would make him a crony capitalist.

i don’t know if he did or not. if he did, it would mean he is/was corrupt. it wouldn’t mean he’s a ‘crony capitalist’ to me. just corruption. as i said above, corruption has nothing to do with capitalism.

Comment by MightyMike
2015-07-23 18:56:24

That would mean that he was involved in crony capitalism, but he was not a crony capitalist.

Comment by tj
2015-07-23 19:02:03

why don’t we call it ‘crony socialism’? i mean if we’re going to make crap up, why not.

years ago they used to call it ‘favoritism’. but the leftists we’re satisfied with that, so they invented ‘crony capitalism’. but why? corruption is the correct term. the most accurate term.

but i’m done. you can call it whatever you want.

Comment by tj
2015-07-23 19:06:39

should be: the leftists weren’t satisfied with that.

nuther correction.

Comment by MightyMike
2015-07-23 19:11:00

I don’t know if leftists invented the term. Raymond appears to love it quite a bit. Corruption is a better word than favoritism. Political discussion in the USA has involved a lot of use of words like ending in -ist or -ism over the past seven years. It hasn’t been a beneficial development.

Comment by tj
2015-07-23 19:18:02

i agree. twisting the meaning of words is becoming more common place these days. much of it is political correctness.

Comment by oxide
2015-07-23 18:20:56

Sorry Mike. You can’t play the definition game here. I was lambasted for requesting the definition of “subprime.”

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Comment by Mafia Blocks
2015-07-23 19:01:03


You got the definition of subprime. You just didn’t like it so I’ll give it to you again.

Paying 250% premiums for a depreciating asset and then doubling down on the losses by financing is the very definition of Subprime.

Comment by WPA
2015-07-23 10:58:36

It amazes me that many HBB’ers who decry the increasing reliance on debt and the insider deals between the oligarchs and the government are infatuated with the one candidate who would double down on those very same problems. It’s like dating a gold digger — sweet at first but man will you pay later.

Comment by palmetto
2015-07-23 12:17:13

Ah, a lecture. Oligarchs! Crony Capitalism! Insiders! Hillary!

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Comment by Califoh20
2015-07-23 11:00:06

Trumps plan works if you cut 90% of welfare. Let the tax savings be your welfare. I kinda like it as 80% of the welfare spending goes to the administrators.
Defense spending will need to be cut 30% too.

Flat rates may need to be 3, 8, 12, 18 to pay the bills.

Comment by WPA
2015-07-23 12:13:45

Welfare is only about 10% of the budget. Soc Sec, Fed pensions, Medicare and Obamacare is 52% of the budget. Trump’s plan would only balance the budget if there were deep cuts in SS, pensions and health care. Sounds like Trump is a “starve the beast” advocate.

Comment by palmetto
2015-07-23 12:27:23

Oh, oh, oh! He’s gonna cut SS, pensions and health care! Oh, Oh, Oh! Meme Alert! Talking Points! What what the do!

Except he said, most emphatically, that he doesn’t believe in privatizing SS.

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Comment by Ben Jones
2015-07-23 16:06:21

‘What what the do’

For some reason every time I read that I crack up.

Comment by tj
2015-07-23 17:41:14

it is pretty funny. such short post too. i imagine the ‘the’ was meant to be ‘they’. there must have been some cutting and pasting before hitting the send button. too much in a hurry.

i think i’ve got him beat though. i tried to correct a post and messed up the correction. then i tried to correct the messed up correction and messed that up too.

i’ve never seen anyone do that on this board before. i’m the first one to do it. never been done before. in addition, i’m the probably the last also. two corrections and both failed. i just gave up without even trying a third time. never seen it before and probably will never see it again.

Comment by Califoh20
2015-07-23 13:31:45

When I say welfare, I mean all…. including corporate and handouts to Israel. Make the big oil cos pay for polluting, like I do if I litter.

In fact, start with big oil.

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Comment by In Colorado
2015-07-23 15:50:05

Did he say anything about repealing the payroll tax?

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Comment by X-GSfixr
2015-07-23 08:38:35

Die hard conservative buddy of mine buys a set of wheels for his old collector car yesterday. Wanted “Made in USA” so he buys wheels from “US Mag”

(This btw, is a guy who thinks government consumer protection is “over regulation”)

So we get them to my shop and jack up the car to swap them out

Engraved in the back “US Mag of Indy- Made in China”

At least the tires were made on the same continent (Mexico)

At which point I had to point out that this is what you get in an unregulated market. The sleazeballs can come up with ideas to rip you off quicker than you can educate yourself on them.

Especially in a “no growth environment”. You try to turn yourself into a single source supplier, then screw your customers just below the point that your ripping them off generates start from scratch competition.

Comment by 2banana
2015-07-23 09:32:27

Yep. If we would cut one inefficient government program by even 1% we would then into Somalia overnight.

A lesson to be learned by all

Comment by X-GSfixr
2015-07-23 11:34:49

But you never advocate cutting anything by 1%. With you, its always “Government and/or taxes = Bad” with no exceptions.

Comment by 2banana
2015-07-23 11:46:56

How about we live within our means?

Or is that concept racist?

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Comment by Califoh20
2015-07-23 12:15:27

Like Reagan taught us?

What Republican ever did anything for smaller gov and less spending? Heck, Bush and the GOP had full control for 6 yrs and look at the debts!

Comment by MightyMike
2015-07-23 12:40:09

How about we live within our means?

That’s not at all a specific proposal. And the racist thing is just like the Somalia/1% argument. No one says either of those things.

Comment by In Colorado
2015-07-23 15:53:06

But you never advocate cutting anything by 1%. With you, its always “Government and/or taxes = Bad” with no exceptions.

Which is why I have Joshua Tree’d him. He brings nothing to the discussion.

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Comment by rj chicago
2015-07-23 10:07:08

Hey GS - did you see that the longest running Pizza Hut in the nation that is in your neck of the woods is closing?


Comment by X-GSfixr
2015-07-23 11:36:24

No, didn’t see that.

Guess those kids in Aggieville want to go drinking at Buffalo Wild Wings.

Comment by Goon
2015-07-23 08:40:19

Whoever posted on HBB in the last week that Trump would make a good one term president and extinguish the Bush/Clinton dynasty may be right

I can support Trump exclusively based on who hates him

Comment by Goon
2015-07-23 08:46:19

Here little Miss Lindsey Graham gets her panties in a twist over Alpha Don:


The article comments are comedy gold 8)

Comment by palmetto
2015-07-23 09:01:25

The comments are awesome!

The Don Melvin’ed Little Lindsey, who always looks like he’s puking.

Personally, I think the lovely Lindsey is pissed because no more Trump pageants for a while.

Comment by Goon
2015-07-23 09:41:48

Little Miss Lindsey says “it sucks” being left out of the first debate:


What a capital L LOOSER

Run on a platform of “don’t vote for me if you’re tired of war” and that’s what you get, you’re irrelevant, now shut up and drop out of the race

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Comment by phony scandals
2015-07-23 14:55:48

“I can support Trump exclusively based on who hates him”

:) +1

Comment by Califoh20
2015-07-23 10:25:14

Obama on the Daily Show. Smart man! Watch him explain the deal with Iran. If only everyone knew the facts.


Comment by palmetto
2015-07-23 10:48:05

One of the few people who seems to have understood it is Pat Buchanan, oddly enough.

Comment by 2banana
2015-07-23 10:52:43

No press conference for our great mesdiah?

That could get messy.

Better to go on lefty comedy show to explain the facts.

Comment by Califoh20
2015-07-23 11:06:07

who watches the news these days?

live and let live

Comment by Puggs
2015-07-23 15:31:30

Stay at a National Park for a few weeks or hike PCT to get a good news master cleanse.

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Comment by X-GSfixr
2015-07-23 11:09:34

FAA can’t/won’t/doesn’t have the budget to verify aircraft maintenance done on US aircraft overseas is done correctly. So they sign bi-lateral agreements letting the locals do the FAA’s work for them.

Of course, they don’t have the budget to verify the overseas regulators are doing their job either…..


Any guesses on whether the same issue applies to shops in Central/South America and Asia?.

Even if fully enforced, FAA regs are a MINIMUM standard.

Comment by 2banana
2015-07-23 11:48:18

Don’t worry - still plenty of money for illegals

Comment by In Colorado
2015-07-23 15:55:55

FAA can’t/won’t/doesn’t have the budget to verify aircraft maintenance done on US aircraft overseas is done correctly.

I have to say, this makes me very nervous about getting on a jet.

Where does British Airways do their maintenance? Zimbabwe?

Comment by Professor Bear
2015-07-23 11:20:13

Any thoughts on how much farther the commodities rout goes from here?

Comment by Professor Bear
2015-07-23 11:22:10

Commodities Collapsed Just Before The Last Stock Market Crash – So Guess What Is Happening Right Now?
On Wednesday, commodities got absolutely pummeled, and at this point the Bloomberg Commodity Index is down a whopping 26 percent over the past twelve months
by Michael Snyder | Economic Collapse | July 23, 2015

If we were going to see a stock market crash in the United States in the fall of 2015 (to use a hypothetical example), we would expect to see commodity prices begin to crash a few months ahead of time. This is precisely what happened just before the great financial crisis of 2008, and we are watching the exact same thing happen again right now. On Wednesday, commodities got absolutely pummeled, and at this point the Bloomberg Commodity Index is down a whopping 26 percent over the past twelve months. When global economic activity slows down, demand for raw materials sinks and prices drop. So important global commodities such as copper, iron ore, aluminum, zinc, nickel, lead, tin and lumber are all considered to be key “leading indicators” that can tell us a lot about where things are heading next. And what they are telling us right now is that we are rapidly approaching a global economic meltdown.

If the global economy was actually healthy and expanding, the demand for commodities would be increasing and that would tend to drive prices up. But instead, prices continue to go down.

The Bloomberg Commodity Index just hit a brand new 13-year low. That means that global commodity prices are already lower than they were during the worst moments of the last financial crisis…

The commodities rout that’s pushed prices to a 13-year lowpulled some of the biggest mining and energy companies below levels seen during the financial crisis.

Comment by Califoh20
2015-07-23 15:11:12


Comment by Professor Bear
2015-07-23 15:20:23

Gold rout could turn into stampede out of commodity investment
World’s largest mining companies are running out of options as commodities slump tipped to deepen
During the boom years of the commodities super-cycle, gold topped out at more than $1,900 per ounce
By Andrew Critchlow, Commodities editor
5:54PM BST 23 Jul 2015

It all started with a bullion sell-off on the Shanghai Gold Exchange, when 4.7 tonnes of the precious metal was unceremoniously dumped on to the market. The trade sent gold tumbling 4.3pc to less than $1,100 per ounce and played to fears that China’s demand for all commodities, precious or otherwise, was imploding.

During the boom years of the commodities super-cycle, when iron ore traded at $180 per tonne, gold topped out at more than $1,900 per ounce and oil looked cheap at $100 per barrel, no bet on resources was too risky to take. China’s demand for raw materials, energy and food was expected to drive growth in the entire commodities sector uninterrupted for at least the next 25 years.

However, those days are over; and despite glimmers of hope that the current slowdown in Chinese economic growth may be short-lived, the crash in resource-based asset prices has turned from an orderly exit into a stampede. This sense of nervous panic is partly why gold prices tumbled so fast on Monday, only for them to recover their losses in the following days.

The sense of foreboding hanging over resources was made worse by the big global mining giants, which are running out of options if they want to maintain their commitment to progressive dividends while boosting production against the backdrop of a falling market. In valuation terms, mining companies trading on the FTSE are now back where they started just before the onset of the global financial crisis.

Comment by rj chicago
Comment by MightyMike
2015-07-23 12:42:09

I wonder if David Stockman is aware of all of the stuff that’s put up on his site.

Comment by rj chicago
2015-07-23 12:10:38

Dr. Copper is on the mat about to be pinned.

Comment by 2banana
2015-07-23 12:17:25

Buy the f*cken dip!

Comment by azdude
2015-07-23 14:18:05

This is clearly a game of sentiment now. So many bad numbers and data but people look the other way chasing yield. I’m not sure what will change it but I guarantee the FED will try and keep this going as long as possible.

Comment by rj chicago
2015-07-23 12:18:12

shawn Colvin and Viktor Krauss with their rendition of Pink Floyd’s “Shine on you Crazy Diamond”. Great Cover…..


Comment by Califoh20
2015-07-23 13:26:10

What is there to complain about now?

The number of Americans filing new applications for unemployment benefits last week fell to its lowest level in more than 41-1/2 years, suggesting job growth remained solid despite slowing in June.
Initial claims for state unemployment benefits declined 26,000 to a seasonally adjusted 255,000 for the week ended July 18, the lowest level since November 1973, the Labor Department said on Thursday.

Comment by azdude
2015-07-23 14:15:55

nobody can find a job to be included in the statistics.

labor force participation rate shows about 100 million people not in the workforce.

Just buy some stocks and your life will turnaround.

Comment by MightyMike
2015-07-23 14:35:08

labor force participation rate shows about 100 million people not in the workforce.

Is that too many?

Comment by phony scandals
2015-07-23 17:53:47

“Is that too many?”

It is when you throw these 40 million in too.

How many Americans work in government? Would you believe 40 million!

By Joseph Gitter Apr 10

How many Americans work in government? That’s a more difficult question to answer than you would think. Officially, as of 2009, the federal government employed 2.8 million individuals out of a total U.S. workforce of 236 million, or just over one percent of the workforce.

When we add up the true size of the federal workforce — civil servants, postal workers, military personnel, contractors, grantees, and bailed-out businesses — and add in state- and local-government employees — civil servants, teachers, firefighters, and police officers — we reach the astonishing figure of nearly 40 million Americans employed in some way by government. That means that about 17 percent of the American labor pool — one in every six workers — owes its living to the taxpayer.

http://www.prepareandprosper.net/…/ - 73k -

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Comment by MightyMike
2015-07-23 18:08:22

One in every six is not that many. I wonder how they came up with nearly 40 million. They’re probably forgetting a lot of people, such as doctors and nurses who get paid by Medicare.

Comment by Califoh20
2015-07-24 10:05:11

Reagan had more gov workers. Google it, if you deny it.

Comment by phony scandals
2015-07-24 17:42:40

“Reagan had more gov workers. Google it, if you deny it.”

Members of the military are gov workers so of course Reagan had more gov workers. Google it, if you deny it.

Comment by Califoh20
2015-07-23 15:20:56

Do you want the gov to create jobs or force employers with record profits to hire more people?

Comment by Puggs
2015-07-23 15:39:08

I want them to serve my coffee the way I ASKED.

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Comment by Senior Housing Analyst
2015-07-23 19:07:36

The truth?

Labor Force Participation Rate Falls To 37 Year Lows


Comment by Puggs
2015-07-23 14:16:28

So oil continues it’s crater but my local pump prices as if it’s 2007?

Comment by Califoh20
2015-07-23 15:14:33

“col·lu·sion” easier done than said.

Comment by Puggs
2015-07-23 15:33:34

Don’t you drive a Tesla??

Comment by Califoh20
2015-07-23 17:41:55

I think my carbon footprint is half of what an average American’s is.

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Comment by Puggs
2015-07-23 18:32:32

Relax and find out here…


Comment by In Colorado
2015-07-23 15:58:39

FWIW, in my neck of the woods we’re about $1 below the peak prices. Still, it’s interesting that while oil is about the same price as last fall, gasoline prices here are almost a $1 above the low (which was $1.70)

Comment by Professor Bear
2015-07-23 19:20:46

U must be living in the wrong state (CA, that is…)

Comment by Califoh20
2015-07-23 17:25:52

the GOP and crony-capitalism:

WASHINGTON — The Senate Appropriations Committee voted Thursday to pass a $20.6 billion spending bill that would decimate President Barack Obama’s signature Wall Street reform law.

The committee met to vote out the 2016 financial services appropriations bill. But in an unusual move, Sen. Richard Shelby (R-Ala.) offered an entire bill as an amendment: the Financial Regulatory Improvement Act, a bill he authored and already passed out of the Senate Banking Committee, which he chairs. His legislation takes direct aim at the 2010 Dodd-Frank financial reform law. It would dramatically restrict the government’s ability to regulate big banks by easing regulations for dozens of mid-size lenders and beefing up oversight of the Federal Reserve. It also rolls back key consumer protections.

Comment by Puggs
2015-07-23 18:39:13

A country governed by those we elected gits exactly what it deserves. It’s like they can’t see the train wreck ahead.

Oh well, time to head downstairs for slam poetry night.

Comment by Raymond K Hessel
2015-07-23 17:55:31

Got a PR disaster you need to sweep under the rug? Call Carlos Danger!


Comment by Raymond K Hessel
2015-07-23 18:03:10

After driving out Zimbabwe’s white farmers with a campaign of murder, rape, illegal land expropriations, and occupations/thefts of farms by “liberation war veterans,” President-for-Life Robert Mugabe is inviting them to return. Any white farmer stupid enough to take him up on his offer would be right at home among the 95% of ‘Muricans who voted for Obama, McCain, or Romney.


Comment by Califoh20
2015-07-23 18:42:45

If you cant join in on the excitement of flipping homes, flip a trailer: http://slo.craigslist.org/rvs/5135195177.html

Comment by Senior Housing Analyst
2015-07-23 19:53:31

Costa Mesa, CA Housing Prices Fall 14%


Comment by Professor Bear
2015-07-23 20:48:37

Did Chinese stock market investors manage to sniff out an incipient slowdown in the real Chinese economy before it showed up in the data?

Comment by Professor Bear
2015-07-23 21:19:33

S.Korea shares extend losses, won weaker after China PMI data
By Yeawon Choi
SEOUL, July 24

Seoul shares extended losses to a
near two-week low by midday on Friday on concerns South Korea’s
exports to the largest export market may decline following
lukewarm factory activity data from China.

The Korea Composite Stock Price Index (KOSPI) was
down 1.1 percent at 2,042.95 as of 0238 GMT after falling to as
low as 2,040.30, the lowest since July 13. Losers led gainers by
3.1 to 1.

“Investors were focused on the data as local industries such
as chemical, steel, shipbuilding and cosmetics have large
exposure to China,” said Kang Hyun-gie, a stock analyst at
Dongbu Securities.

Comment by Professor Bear
2015-07-23 21:22:51

July 23, 2015
Asia stocks down as China manufacturing weakens

Asian stock markets were rattled Friday by cautious earnings outlooks from U.S. companies and a further deterioration in Chinese manufacturing.

KEEPING SCORE: Japan’s Nikkei 225 was down 0.7 percent at 20,545.98 and Hong Kong’s Hang Seng shed 0.9 percent to 25,178.20. South Korea’s Kospi dropped 1 percent to 2,045.27. Australia’s S&P/ASX 200 fell 0.7 percent to 5,553.70. Southeast Asian markets were lower but China’s Shanghai Composite Index rose 0.7 percent to 4,152.29.

CHINA WEAKNESS: China’s manufacturing slumped to a 15-month low in July in a fresh sign of deterioration in the world’s second biggest economy. A manufacturing index based on a survey of factory purchasing managers fell to 48.2 this month from 49.4 in June. It uses a 100-point scale on which numbers above 50 indicate expansion. Employment in China’s giant manufacturing industry, which employs tens of millions of people, continued to shrink.

Comment by Professor Bear
2015-07-24 00:06:56

Markets | Fri Jul 24, 2015 2:11am EDT
Related: China
China factories falter, commodities take the hit
SYDNEY | By Wayne Cole
An employee works on a final assembly line for CRH380B, a high speed train model, at China CNR’s Tangshan Railway Vehicle’s factory in Tangshan, Hebei province, February 11, 2015.
REUTERS/Kim Kyung-Hoon

Activity in China’s factory sector seemingly contracted at the fastest pace in 15 months in July, a preliminary private survey showed on Friday in a blow undercutting recent signs of stabilization in the struggling economy.

The news came as Beijing announced it would allow its yuan currency to fluctuate more widely within its trading band as a way to support the trade sector.

Fears of faltering demand in the world’s largest commodity buyer piled further pressure on resource prices, sending gold to a five-year low and copper to a six-year trough.

It also added to the woes of emerging market nations already struggling with the risk of a rise in U.S. interest rates later this year.

The flash Caixin/Markit China Purchasing Managers’ Index (PMI) dropped to 48.2, the lowest reading since April last year and the fifth straight month under 50, the level which the survey-makers say separates contraction from expansion.

Comment by Professor Bear
2015-07-24 00:15:26

CAW! CAW!!!!

Australian dollar hits fresh six-year low as Chinese factories continue to falter

Chinese manufacturing was sluggish for the fifth month running, a new survey shows, while the strengthening greenback sends the Aussie below US73c
New Chinese-made General Motors cars at a parking lot in Shenyang, Liaoning province. despite the slowing economy, GM has reported strong sales in China.
Photograph: Sheng Li/Reuters
Martin Farrer and agencies
Thursday 23 July 2015 23.30 EDT
Last modified on Friday 24 July 2015 02.44 EDT

The Australian dollar fell to a fresh six-year low and stocks across Asia dropped sharply after more signs of a slowdown in the Chinese economy.

The Aussie dipped below US73c for the first time since May 2009 on news that Chinese manufacturing activity slowed by more than expected, while good US jobs data bolstered bets that the Federal Reserve is on track to hike interest rates later this year.

The flash Caixin/Markit manufacturing purchasing managers’ index (PMI) dropped to 48.2, below economists’ estimate for a reading of 49.7 and the lowest reading since April last year. It was the fifth straight month below 50, the level which separates contraction from expansion, and the lowest reading since April 2014.

In early afternoon trade, the dollar was buying US72.86c having fallen as low as US72.70c.

Comment by phony scandals
2015-07-24 17:40:34


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