July 31, 2015

Bits Bucket for July 31, 2015

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

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Comment by frankie
2015-07-31 00:47:40

IMF will refuse to join Greek bailout until debt relief demands are met

Fund official confirms it will not sign up to any formal support programme unless eurozone creditors reach ‘explicit and concrete’ agreement


I suppose this is one way for France to attempt to derail the German agenda.

Comment by Blue Skye
2015-07-31 04:57:35

Seems circular. Forgive some of the debt so that more can be loaned to pay to the creditors. Who is the patsy?

Comment by Raymond K Hessel
2015-07-31 05:56:50

Who is the patsy? As always, middle-class taxpayers.

Comment by 2banana
2015-07-31 06:00:38

Who is the patsy?

If you don’t know - it is YOU.

Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 13:41:08

copy cat

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Comment by frankie
2015-07-31 00:52:35

Ireland’s economy grew by more than 6 per cent in the first three months of the year compared with the same period in 2014, new figures reveal.

While a large volume of new data reflects the continued strength of the export sector, the figures also point to an increasing level of overall activity in the domestic sector of the economy.

At the same time, upward revisions to gross domestic product data (GDP) serve to bring debt and deficit ratios down.


Spain’s economy raced ahead in the second quarter, expanding at the fastest pace in eight years.

Gross domestic product rose 1 percent from the previous quarter and 3.1 percent on an annual basis, the Madrid-based National Statistics Institute said Thursday in a preliminary report. The quarterly growth matches the median estimate in a Bloomberg News survey of 14 economists and the Bank of Spain’s estimate.

While the report didn’t break down components of GDP, economists see household consumption and domestic demand as the drivers of the Spanish economy, which has now added eight consecutive quarters of increases. The economy expanded 0.9 percent in the first three months of the year.


Several EU economies are now back to 2008 levels, of cause all this will mean nothing if China goes pop.

Comment by In Colorado
2015-07-31 12:35:52

Several EU economies are now back to 2008 levels, of cause all this will mean nothing if China goes pop.

Who does Ireland mostly trade with? I’m guessing that it’s with other EU nations. Will this bode well for them as Europe “goes Greek”?

Comment by Goon
2015-07-31 05:22:25

I have so much money left after “throwing money away on rent” every month that I don’t know where to throw it

Oh wait…

I just remembered I’m going to Aspen again today for the third weekend this month

Loanowners don’t get to spend their weekends in Aspen

Comment by ComfortableClass
2015-07-31 06:14:53

Good luck finding parking!

Comment by Califoh20
2015-07-31 13:13:20

I am off the the high sierras for a week! Mammoth is awesome, even during a drought! Fly-fishing in the morning, fantastic dining at night.

Comment by Raymond K Hessel
2015-07-31 17:02:24

I’m going to Rome. I mean roam. I’m going to roam around my local hardware store this weekend.

Comment by Jingle Male
2015-08-01 01:30:29

My favorite place! My fantasy is a $1 million gift card to home depot!

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Comment by Mafia Blocks
2015-08-01 05:15:50


Comment by 2banana
2015-07-31 05:47:41

And remember - Canadian banks already have their $1 Trillion CD TARP built-in.


Liar Loans Pop up in Canada’s Magnificent Housing Bubble
ZeroHedge - 7/31/2015

Canada is different. Regulators are on top of it. There are strict down payment requirements. Mortgages are full-recourse, so strung-out borrowers couldn’t just mail in their keys and walk away, as they did in the US. And yada-yada-yada.

But Wednesday afterhours, Home Capital Group, Canada’s largest non-bank mortgage lender, threw a monkey wrench into this theory.

Through its subsidiary, Home Trust, the company focuses on “alternative” mortgages: high-profit mortgages to risky borrowers with dented credit or unreliable incomes who don’t qualify for mortgage insurance and were turned down by the banks. They include subprime borrowers.

So it disclosed, upon the urging of the Ontario Securities Commission, the results of an investigation that had been going on secretly since September: “falsification of income information.” Liar loans.

But it’s not so small anymore – estimated at 10% of Canada’s mortgage market and growing rapidly: A report by CIBC (Canadian Imperial Bank of Commerce), cited by the Huffington Post, found that lending by alternative lenders had doubled since 2012, and as of the Q3 last year, was still growing 20% year-over-year.

This comes at the worst possible time for Canada. The economy likely shrank in the first half. Hence, the Conference Board of Canada just downgraded growth to 1.6% in 2015, worst since 2009. It sees some deep problems, after a 15.5% plunge in business investment in Q1:

Comment by Goon
2015-07-31 05:48:51

Drudge Report link for the Social Justice Warriors™


Read the article and none of the millennial twits quoted has a real job, LOLZ

Comment by 2banana
2015-07-31 05:58:39

All community organizers?

Comment by Goon
2015-07-31 06:20:25

Pretty much. Reminds me of a dinner party in Ann Arbor a decade ago with my girlfriend and several of her fellow Masters students in the U Mich Ford School of Public Policy, every single one of them thought they were gonna “change the world”

Comment by Raymond K Hessel
2015-07-31 17:06:02

When I was in college I dated a girl who invited me to some Department of Agriculture confab. Some twit waxed loquacious about how they were sponsoring women’s cooperatives in Eritrea. They were so impressed with how generous they were, showering taxpayer dollars on people who wouldn’t care if all Americans dropped dead of the Black Plague.

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Comment by MightyMike
2015-07-31 06:40:35

What’s a real job? Why is an administrative assistant not a real job?

Comment by In Colorado
2015-07-31 08:19:09

Read the article and none of the millennial twits quoted has a real job, LOLZ

Maybe that’s why they’re behind Sanders? They know that their lot won’t improve with HillaryJeb! Of course, it’s possible that Sanders will make things worse.

Comment by AmazingRuss
2015-07-31 17:06:13

People voting in their own interest? For SHAME!

Comment by cactus
2015-07-31 09:11:18

Fourth turning stuff, Old Ben kanobi befriends young hipster Luke Skywalker while the boomers play Darth Vader and the evil empire.

Comment by Califoh20
2015-07-31 13:15:20

I’d like to see Bernie and Cheney in the octagon, no gloves, no tapping out.

Comment by 2banana
2015-07-31 05:50:32

Oh - so that is how it is done!’


Maine Leads Nation in Food Stamp Reduction
The Maine Wire - July 30, 2015 - Patrick Marvin

According to recently released data from the U.S.D.A, Maine is leading the nation with its reduction in the number of individuals who are utilizing the Supplemental Nutritional Assistance Program (SNAP), also known as the food stamp program.

Between April 2014 and April 2015, 12.4% fewer individuals participated in the food stamp program in Maine, the highest percent reduction of any state in that time frame.

Maine’s 12.4% reduction represents a decrease of approximately 28,000 individuals who are no longer enrolled in the program which provides food assistance to low-income people living in the U.S. As a result of this decrease, Maine has fallen from 12th to 21st among all states with regards to the percent of its population using food stamps.

A considerable amount of Maine’s food stamp reduction is due to Governor Paul LePage’s decision to enforce volunteer and work requirements for adults without disabilities or children who are participating in the program. Prior to last year, Maine had received a waiver from the federal government for this requirement, but in July 2014, LePage announced that he would not longer be applying for the federal waiver.

By forcing childless and able-bodied adults to work 20 hours per week, or volunteer or take job training courses just 6 hours per week, Maine has reduced its food stamp program enrollment by nearly 9,500 individuals since this past January.

Comment by 2banana
2015-07-31 05:52:24

Remind us of what why Petraeus was convicted and had to resign in disgrace?


U.S. Intel fears hundreds of secrets leaked in Hillary’s e-mails.
The Washington Times | July 31, 2015

The U.S. intelligence community is bracing for the possibility that former Secretary of State Hillary Rodham Clinton’s private email account contains hundreds of revelations of classified information from spy agencies and is taking steps to contain any damage to national security, according to documents and interviews Thursday.

Comment by Raymond K Hessel
2015-07-31 05:58:43

As usual, Hillary have enjoy complete impunity for her malfeasance. That’s just how the Oligopoly rolls.

Comment by 2banana
2015-07-31 06:01:53

And the kool-aid drinkers will defend her to their last breath.

Comment by Califoh20
2015-07-31 13:52:43

I kinda want Hillary to win just to piss off the 2banana’s of the world and watch her put solar panels on the white house.

off to the beach to finish my book: House of Bush, House of Saud
by Craig Unger

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Comment by Raymond K Hessel
2015-07-31 17:09:23

Remember that pathetic, babbling creature - Florida Sceptic - that showed up here touting Hillary as a true champion of the middle class? I think we ran her off in less than 48 hours. Why can’t stupid people be passively stupid, instead of aggressively, militantly stupid like she was?

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Comment by nhtransplant
2015-07-31 06:26:36

Tom Brady needs to get her lawyers.

Comment by beetlejuice
2015-07-31 07:15:07

Nah…Tom Brady needs to register himself as D and donate big money to the cause.

Comment by rms
2015-07-31 07:59:16

Tom Brady for president and Gisele… what a first lady! The White House really needs an under 40 couple. Modernize!

Comment by rj chicago
2015-07-31 08:21:20

Oh the horror - imagine Gisele and Tom Terrific at 70 years of age after multiple rounds of plastic surgery - yikes!!

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Comment by In Colorado
2015-07-31 12:33:27

Not to mention all those concussions he will be paying for later.

Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 12:29:10

The intelligence community is a spy agency. What?

Comment by Mafia Blocks
2015-07-31 05:56:03

These lawyers-without-a-license are looking like the three stooges lately.

Comment by azdude
2015-07-31 06:21:27


Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 12:26:26

That’s what yer mom Suzanne said.

Comment by Goon
2015-07-31 05:57:01

Another Drudge Report link now that 2brony has clocked in for the day shift:


This is an example of the type of “blowback” you can expect when American foreign policy is decided by people like Mike Huckabee, Lindsey Graham, Scott Walker, John McCain, Marco Rubio, or any other @sshole talking about “boots on the ground”

Comment by 2banana
2015-07-31 06:17:11

Philadelphia also has a huge population of muslims

But they vote nearly 100% democrat so all is good

Comment by Muggy
2015-07-31 06:38:58

I don’t understand your comment. Aren’t all Americans deserving of a vote and religious freedom?

Comment by Oddfellow
2015-07-31 06:49:04

Only white men who pay taxes should get to vote, it’s in the Constitution.

Do try to keep up.

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Comment by Dman
2015-07-31 09:34:19

Some people find it very hard to comprehend the constitution when it comes to the establishment of religion. They think their religion is the best, despite all evidence to the contrary.

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Comment by palmetto
2015-07-31 06:21:21

“American foreign policy is decided by people like Mike Huckabee, Lindsey Graham, Scott Walker, John McCain, Marco Rubio, or any other @sshole talking about “boots on the ground”

The Cuckservatives!

Comment by palmetto
2015-07-31 06:45:31

For more on cuckservatives, here goes:


I was calling these guys “geldings”, but cuck defines them much better.

Comment by Goon
2015-07-31 07:05:48


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Comment by MightyMike
2015-07-31 07:20:32

RINO used to be the term that was used. There seems to be a need for new labels, as if a label gets stale after a few years and loses its punch.

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Comment by Oddfellow
2015-07-31 07:28:49

I find that article long, repetitive, and incomprehensible. Can someone give a one sentence definition of cuckservative, other than “everyone other than Trump”? Because the author of the article sure couldn’t.

Comment by palmetto
2015-07-31 07:33:25

What is “neocon”, Alex!

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Comment by ComfortableClass
2015-07-31 07:39:24

Ditto here. I got a gist but not a real good definition.

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Comment by nhtransplant
2015-07-31 08:14:25

I thought it meant republicans who act like democrats or who are easily intimidated/tricked in to compliance by democrats, but it seems to be used differently by some people. Bottom line is they allow their own supposed ideology and agenda to get f****ed right in front of them while they do nothing about it or even help it happen.

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Comment by In Colorado
2015-07-31 08:21:58

I thought it meant republicans who act like democrats or who are easily intimidated/tricked in to compliance by democrats

AKA, the “Stupid party”

Comment by palmetto
2015-07-31 08:30:15

That’s pretty much it in a nutshell.

Comment by ComfortableClass
2015-07-31 17:34:44

That’s a good crystallization. Kudos.

Comment by joe smith
2015-07-31 12:23:20

It will be interesting to see if any of the “inexperienced” candidates like Trump, Fiorina, or Carson will be standing against the retarded “experienced” candidates like Rubio, Walker, Cruz, Rand Paul, etc.

I like the “inexperienced” candidates much, much better this time around. Trump is 100% right when he points out that the “experienced” crowd is COMPLETELY UNABLE to think for themselves. Their talking points are blatant pandering to the base about changes that will never be made. Their actual policies are dictated by the most insider-y of all insiders, professional lobbyists and superPACs. What a disgrace.

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Comment by Mafia Blocks
2015-07-31 14:15:09


Comment by Raymond K Hessel
2015-07-31 17:12:28

People who vandalize cemeteries should be taken out and horsewhipped, then hanged. We really need a “POS” statute, and once you’ve demonstrated that you’re a POS, you get stripped of all rights of citizenship and get treated like the POS you are.

Comment by Mr. Banker
2015-07-31 06:04:44

Pray tell me, Mr. Banker, what is “equity”?

Equity, my dear son, is the difference between the value of what ones owns and the value of what is owed.

So. Mr. Banker, how is value determined?

If it is a company that you are talking about then value is determined by a balance sheet, something that is figured out by the rules of accounting and something that must pass the muster by an auditor.

But if you are talking about real estate values then you are mostly talking about the price, and price is something that is not determined by the rules of accounting and is not something that must pass the muster of accountants. No, the price is something that is determined by strangers - strangers who may or may not be acting as total fools.

Comment by Professor Bear
2015-07-31 06:09:56

…strangers who may have been foolishly loaned a large sum of other people’s money to finance a foolishly high purchase price.

Comment by Mr. Banker
2015-07-31 06:36:10

“… a foolishly high purchase price.”

If Zillow says you are rich then I say you are rich.

The Dotted Line Special awaits those who choose to take it, are man enough to take it.

Comment by Dman
2015-07-31 09:25:45

In other words, gambling on others to be bigger fools than you. Or musical chairs, where the people who buy at or near the peak are the biggest losers.

Comment by Goon
2015-07-31 06:06:34

Is the “evil dentist shot lion” over already?

Because I can’t keep up with everything my liberal betters expect me to be outraged about

Anyway, on to the next one. Here Dylann Root to be charged with hate crimes, because all animals are created equal, except when some animals are more equal than others:


Comment by WPA
2015-07-31 08:39:52

Is the “evil dentist shot lion” over already?

Not until he’s extradited and prosecuted. Surely you’re not defending this cowardly dirtbag? I’m perfectly fine with the sport of hunting… but what this scoundrel did was not “hunting” nor “sport.”

Comment by Goon
2015-07-31 09:02:29

Not defending it, just observing how it has played out among the Facebook slacktivists (ice bucket challenge?) and the real journalists, seems like they’ve moved on

I went to a party at a big game hunter’s house over Christmas and he had a collection of trophies that as a random guess I estimate he dropped several hundred thousand dollars to hunt and ship back home, the only fake one of the “Big 5″ of Africa was the rhino, he did shoot one with a tranq gun on a private game reserve and the guides took a mold of the horn from which he created his trophy

Comment by WPA
2015-07-31 09:17:52

Ah, I see where you’re coming from — the reaction is short-lived, shallow, and will result in no actual defense of threatened lion populations.

I have respect for hunters who follow the rules, get licenses, then hike for miles chasing and tracking elusive prey. On the other hand, I don’t get some of the big game hunting of large relatively stationary animals that are sitting ducks. No sport in that.

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Comment by Dman
2015-07-31 09:31:19

The last true hunters were the Neanderthals - run down or face your prey with a home made spear, and let the best mammal win. Unless you’re willing to do it the old fashioned way, you should be forced to wear neon pink instead of hunters orange.

Comment by MightyMike
2015-07-31 10:05:05

Lions themselves are true hunters. Their weapons are their claws.

Comment by WPA
2015-07-31 11:15:05

The locals have a starkly different view:

“Why are the Americans more concerned than us?” said Joseph Mabuwa, a 33-year-old father-of-two cleaning his car in the center of the capital. “We never hear them speak out when villagers are killed by lions and elephants in Hwange.”

Comment by rms
2015-07-31 13:10:34

“The last true hunters were the Neanderthals - run down or face your prey with a home made spear, and let the best mammal win.”

A real hunter prefers a helicopter. You can land to get a selfie with the kill and get back to the lodge before noon for a clubhouse sandwich and V8.

Comment by Combotechie
2015-07-31 16:47:26

“The last true hunters were the Neanderthals - run down or face your prey with a home made spear, and let the best mammal win.”

Here’s how the Pygmies of Africa used to hunt elephants:


“In his note on “.4 Wooden Spear of Third Interglacial Age from Lower Saxony,’’
Dr. H. L. Movius, Jr.? refers to the elephant hunting methods of the Pygmies of the
Cameroons, and I was especially interested in his remarks in this regard. From 1932
to 1936 I was prospecting in the Ituri Forest of the Belgian Congo among Pygmies and
elephants. There the Pygmies hunt the elephant in a manner that is very like the one
described by E. Zwilling for the Cameroons. The differences are as follows:
1. In the Ituri Forest the Pygmies use short lances with a very large and broad iron blade
(cu. 30×20 cm.) mounted on a short (cu. 75 cm.) and thick handle made of hardwood.
This weapon is razor sharp, and normally it belongs to a Bantu chieftain for whom the
Pygmies hunt under some sort of a contract.
2. The hunter sneaks underneath the standing elephant and thrusts the spear upward into its
soft belly with a lightning-quick movement. This is a choice place because the shortnecked
elephant can neither see under its belly nor reach there with its trunk. Of course,
the hunter seizes the first second during which the wounded beast is wondering what has happened to him to jump aside. Sometimes they have time to give the handle a jerk
thereby enlarging the wound.
Before approaching his quarry the Pygmy hunter goes to one of the shallow pools,
where the animals have their daily mudbath, and smears his entire body with mud, so
he cannot be smelled out by his quarry. He is absolutely naked when hunting.”


Comment by joe smith
2015-07-31 12:40:08

I know very little of the story and I’m not against all hunting, especially if the funds from it actually go to benefit endangered animals or habitats.

That being said, if they baited that lion off of a national park or wildlife preserve, that’s an especially serious crime.

Also, it goes without saying that the way they track and hunt these lions isn’t really indicative of great strength or skill. I’m sure it’s a rush, but it doesn’t make the hunter brave or laudable.

Comment by Dman
2015-07-31 13:29:24

And this dentist got busted for doing the same thing to a bear in Wisconsin. These kinds of hunters are really impressed by their ability to aim and shoot. It’s kind of pathetic that the only thing that gives this guy pleasure is shooting some rare animal with a crossbow. It takes more skill to play Pac Man.

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Comment by AmazingRuss
2015-07-31 17:10:08

If you kill it, you gotta eat it. Nobody eats lions.

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Comment by Little Al
2015-07-31 09:58:43

I see men criticizing women all the time for spending too much on clothes and makeup to attract the opposite sex, and those same men buy Hummers, wear hunting attire, and buy boats all to show what desirable winners they are.
The big game hunters who spend 80,000 to bag a rhino, or lion, or polar bear are absolutely pathetic.
As bad as aging Chinese men who eat tiger penis.

Comment by Raymond K Hessel
2015-07-31 17:31:51

Seems to me that this dentist has some serious compensation issues.

Comment by Professor Bear
2015-07-31 06:12:30

With July coming to a close, is it safe to assume the Chinese stock market is once again a safe investment?

Comment by Professor Bear
2015-07-31 06:18:35

Marketwatch dot com
Asia Markets
China shares suffer worst month in nearly 6 years
By Chao Deng
Published: July 31, 2015 4:25 a.m. ET

Investors jittery ahead of China manufacturing data

China’s shares suffered their worst month in nearly six years this July, after confidence in a government-led recovery wavered earlier this week, knocking shares lower.

Shaken conviction in Beijing’s support drove wild intraday swings this week in the Shanghai Composite Index which ended 1.1% lower at 3,663.73. The smaller Shenzhen Composite fell 0.8% to 2,110.62.

This week’s rout followed an earlier wave of heavy selling, which at one point wiped out nearly a third of the value from Chinese equities. Authorities’ near-constant market intervention supported a rebound of as much as 18% from a trough on July 8.

But now the benchmark is down again, off 29% from its mid-June peak. For the month, it is off 14%, its worst monthly performance since August 2009.

On Friday, China’s securities regulator announced it had launched a probe into automated trading and restricted 24 stock accounts suspected of “influencing securities trading prices,” according to its official website. The investigation seeks to root out possible causes of the recent volatility that has rattled China’s stock market.

China shares have been reeling since an 8.5% loss on Monday, the biggest daily decline in more than eight years, when investors dashed for the exits on worries that government-backed funds might wind down market support.

Fluctuating confidence about the government’s role in the market has led to wild intraday swings in recent days. While that’s spooked some investors, others have seen an opportunity to chase short-lived surges while the government appears to be buying in.

“The game between speculative funds and state funds adds to volatility on the market,” said Miller Zhao, analyst at Trade Blazer, a Shanghai-based private-equity firm. “To put in plain language, speculative investors want to take profits from government-backed funds.”

Analysts warned of further volatility in Friday’s afternoon trade ahead of Chinese official manufacturing data Saturday. An early gauge of manufacturing last week, which hit its lowest level in 15 months, could throw doubt on the health state-owned enterprises, according to analysts at IG.

“This question might see negative trading in the afternoon as investors close out positions to mitigate that possible risk,” wrote IG analyst Evan Lucas in a note.

Fears that China’s selloff could spiral beyond the domestic equities market has unsettled the rest of the Asia region in recent weeks. Investors have withdrawn $12.1 billion from emerging-market Asian equity funds in the last three weeks ending July 29, the largest three-week outflow in more than a decade, according to ANZ Research and EPFR Global, a fund data provider. The withdrawals also come as investors prepare for the Federal Reserve to raise interest rates in the U.S. later this year.

Some $1.8 billion of that outflow has come from China, which has suffered its deepest market selloff since the global financial crisis.

Signs of a deepening slowdown in China also have pushed currencies in Asia to multiyear lows this month.

Comment by azdude
2015-07-31 06:22:34

who wants to buy artificially priced assets?

Comment by Professor Bear
2015-07-31 06:38:57

Presumably people who enjoy gambling on bubble appreciation like to buy them.

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Comment by Puggs
2015-07-31 09:16:53

Only those who love to overpay or take on loans they’ll never repay.

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Comment by Professor Bear
2015-07-31 06:58:38

Slide Show
5 charts show how brutal July has been for markets, like China

By Barbara Kollmeyer
Published: July 31, 2015 9:47 a.m. ET
China posts its worst monthly performance in six years
It is it time to fret about China?

Ahead of Friday’s open, the S&P 500 index is set to finish the month of July up 2.2%, while the Nasdaq Composite is looking at a gain of nearly 3%.

In fact, the S&P 500’s (SPX, -0.03%) gains in July are on pace to be the second-best monthly performance of the year, behind February’s 5.5% rally and the Nasdaq Composite Index’s (COMP, +0.13%) monthly gain is second-best to a 7% surge in February.

But elsewhere in the financial universe, July has been absolutely brutal.

Investors in China, commodity stocks, emerging markets and even Twitter (TWTR, -1.87%) down 11% for the week and Yelp Inc. (YELP, -0.35%) which rung up a 25% weekly drop, would gladly take those U.S. gains.

The biggest losers of the month have one common thread: China and its tenuous economy and Wild West stock market. Here’s a look at some of the most downbeat moves of the month:

Comment by Dman
2015-07-31 09:37:18

But GDP is still growing at 7%, right?

Comment by Professor Bear
2015-07-31 07:01:47

Bulletin Chicago purchasing index shows big July improvement in business conditions

Craig Stephen’s This Week in China
Danger mounts as China’s equity bust resumes
Published: July 30, 2015 3:42 p.m. ET
The outlook for Shanghai stocks has only grown murkier.
By Craig Stephen

The dramatic fall in Shanghai A Shares (000002, -1.13%) early this week has confirmed there will be no quick resumption of normality for Chinese equities as the fragility of the recent recovery is exposed.

This always looked likely when an equity revival had been held together with a mixture of government buying, mass stock suspensions and a six-month ban on share sales by large investors. Although further buying support from Beijing looks likely, don’t be surprised if this also fails to arrest the natural course of an equity bubble bursting.

Investors need to consider what the next policy move will be in this new context, where Beijing has been exposed as not being all-powerful, nor having all the answers.

If China’s leadership has to deal with a deflationary shock from a full-blown equity collapse, one possibility is it may have to revert to the tested playbook of other large countries facing a similar predicament: interest rates cut to zero, central banks engaging in unorthodox quantitative easing, currencies left to slide.

Such a move is not the base case of many analysts, and it goes against Beijing’s stated policy. But given the extreme and unexpected level of government intervention in recent weeks, and a $4 trillion equity crash, it looks prudent to consider.

This uncertainty has left investors on edge, caught between worrying that the economy is in much worse shape than the government is letting on and that authorities have lost control of an equity bubble.

In a new research strategy note, Goldman Sachs flagged a number of possible triggers for this week’s renewed selloff. One was the economy may again be slipping after July’s weak manufacturing PMI, which came in at 48.2 and below expectations. This cast further doubt on second-quarter GDP figures that came in suspiciously right on target at 7%.

Another factor that has unnerved investors was a statement last Friday by China’s State Council indicating the yuan-trading band will be widened.

The potential here to spook investors is that policy may be inching closer toward the devaluation option.

The Goldman note said this intervention raised concerns that the yuan might become more volatile and capital outflows increase.

Capital outflows need to be watched carefully as it is here that China’s domestic policy intersects with the outside world. It would hardly be a stretch if investors were not just losing confidence in Chinese equities but also in yuan-denominated assets given Beijing’s recent policy moves.

The danger with any hint that Beijing is considering devaluation is it can lead to self-fulfilling capital flight and spiral out of control.

Comment by Dman
2015-07-31 09:39:48

“The danger with any hint that Beijing is considering devaluation is it can lead to self-fulfilling capital flight and spiral out of control.”

Not gonna happen, because the Chinese government doesn’t want it to happen, and whatever the Chinese government wants, it gets, like rising stock prices.

Comment by Professor Bear
2015-07-31 07:16:25

I’m Gonna Make Him An Offer He Can’t Refuse

China wants brokers to hand over their stock-market trading records

Michelle Price and Pete Sweeney, Reuters
Jul. 31, 2015, 6:57 AM
An investor checks on his mobile phone in front of an electronic board showing stock information at a brokerage house in Hangzhou, Zhejiang province, China, July 29, 2015.
REUTERS/Stringer Thomson Reuters

China is asking foreign and Chinese-owned brokerages in Hong Kong and Singapore to hand over stock-trading records, sources with direct knowledge of the requests told Reuters, extending its pursuit of investors shorting Chinese stocks to overseas jurisdictions.

Three sources at Chinese brokerages and two at foreign financial institutions said the China Securities Regulatory Commission (CSRC) had sought to identify traders and investors who had taken net short positions, or bets that prices would fall, against Chinese-listed shares.

“The implied threat by the CSRC is that anything that is not a hedge is a no-no,” a source in Hong Kong with knowledge of the requests said. This person added that foreign brokers were likely to comply as best they could with the requests.

When the CSRC makes an offer, you cannot refuse it.

Comment by beetlejuice
2015-07-31 07:17:00

When will Yellin’ start buying Chinese stocks in the name of global stability?

Comment by Professor Bear
2015-07-31 07:20:08

The Opinion Pages | Op-Ed Columnist
China’s Naked Emperors
JULY 31, 2015

Politicians who preside over economic booms often develop delusions of competence. You can see this domestically: Jeb Bush imagines that he knows the secrets of economic growth because he happened to be governor when Florida was experiencing a giant housing bubble, and he had the good luck to leave office just before it burst. We’ve seen it in many countries: I still remember the omniscience and omnipotence ascribed to Japanese bureaucrats in the 1980s, before the long stagnation set in.

This is the context in which you need to understand the strange goings-on in China’s stock market. In and of itself, the price of Chinese equities shouldn’t matter all that much. But the authorities have chosen to put their credibility on the line by trying to control that market — and are in the process of demonstrating that, China’s remarkable success over the past 25 years notwithstanding, the nation’s rulers have no idea what they’re doing.

Start with the fundamentals. China is at the end of an era — the era of superfast growth, made possible in large part by a vast migration of underemployed peasants from the countryside to coastal cities. This reserve of surplus labor is now dwindling, which means that growth must slow.

But China’s economic structure is built around the presumption of very rapid growth. Enterprises, many of them state-owned, hoard their earnings rather than return them to the public, which has stunted family incomes; at the same time, individual savings are high, in part because the social safety net is weak, so families accumulate cash just in case. As a result, Chinese spending is lopsided, with very high rates of investment but a very low share of consumer demand in gross domestic product.

This structure was workable as long as torrid economic growth offered sufficient investment opportunities. But now investment is running into rapidly decreasing returns. The result is a nasty transition problem: What happens if investment drops off but consumption doesn’t rise fast enough to fill the gap?

What China needs are reforms that spread the purchasing power — and it has, to be fair, been making efforts in that direction. But by all accounts these efforts have fallen short. For example, it has introduced what is supposed to be a national health care system, but in practice many workers fall through the cracks.

Meanwhile, China’s leaders appear to be terrified — probably for political reasons — by the prospect of even a brief recession. So they’ve been pumping up demand by, in effect, force-feeding the system with credit, including fostering a stock market boom. Such measures can work for a while, and all might have been well if the big reforms were moving fast enough. But they aren’t, and the result is a bubble that wants to burst.

China’s response has been an all-out effort to prop up stock prices. Large shareholders have been blocked from selling; state-run institutions have been told to buy shares; many companies with falling prices have been allowed to suspend trading. These are things you might do for a couple of days to contain an obviously unjustified panic, but they’re being applied on a sustained basis to a market that is still far above its level not long ago.

What do Chinese authorities think they’re doing?

Comment by X-GSfixr
2015-07-31 08:33:01

“….reforms that spread purchasing power…….”

Good luck with that.

Cue the “government taking money from/penalizing the “producers” blathering.

Comment by Professor Bear
2015-07-31 07:25:12

Markets | Fri Jul 31, 2015 8:26am EDT
Commodities, China stocks lick wounds after brutal July
LONDON | By Marc Jones and John Geddie

Commodities and China investors waved a relieved goodbye to July on Friday following a brutal sell-off that has revived fears about the global economy and overshadowed more encouraging news from the U.S. and Europe.

There were signs that the rout wasn’t over yet as Chinese stocks - which have suffered their worst monthly drop in six years - wobbled again, oil prices slipped following a more than 15 percent July slump and metals from industrial copper to precious gold hit multi-year lows.

That happened despite a pause in the dollar’s recent rise, which has been compounding the commodity pressure as signs build that the U.S. Federal Reserve is heading for its first rate hike in almost a decade.

European shares fell slightly with commodity stocks leading the market lower, but remain on track for a 4 percent monthly rise with worries around Greece’s ongoing membership of the euro area kicked into the long grass.

Wall Street was set to open down 0.2 percent.

“The main moves this week have been the continued broad-based weakness in commodities,” said Societe Generale strategist Alvin Tan. “Essentially they have been on the downtrend for a month and of course we have been on a roller coaster ride in China equities and that has affected sentiment.”

Comment by Professor Bear
2015-07-31 07:27:41

FT Alphaville
Markets go up, markets go down… apparently even in China
David Keohane| Jul 28 11:29

Chinese equity markets are nuts. And the search for a narrative to explain this week’s moves is becoming ever nuttier. As Deutsche said: “It ceased to be a free market a long time ago so analysing it is tough”.

Since we can’t yet provide you with a decent narrative — rather than an occasionally ridiculous menu which butts up against the idea this is a largely controlled market within which there are rumours “that leveraged funds through illegal channels are dumping shares” — have some sentences about Chinese stock market volatility. They go nicely with today’s swings.

After dropping some 5 per cent near the open, the Shanghai Comp rallied on heavy buying of state owned banks to close down 1.7 per cent. As the FT says, at “its intraday low the Shanghai index was approaching the nadir of 3,507 points it hit on July 8, when the government announced a raft of measures to prop up a market that had collapsed more than 30 per cent in less than a month.”

Comment by Dman
2015-07-31 09:47:38

Just imagine the fun if the Chinese government suddenly gives up on trying to maintain stock prices, and everyone who wants to sell, can. Buy stocks in Orville Redenbacher if that happens.

Comment by Goon
2015-07-31 06:30:35

Linked from Google News

Los Angeles Times - Two-thirds of uninsured Californians gain coverage after Obamacare rollout, article highlight:

“However, a quarter of the recently insured report forgoing medical care because of costs. And 16% said they had been told by a doctor’s office in the past year that they would not accept them as a patient, and 23% said they had to wait longer than they thought was reasonable for an appointment.”


Comment by WPA
2015-07-31 08:46:15

Yup, this is why support for Obamacare is so low — nearly all Repubs hate it and half of the Democrats don’t like it either. It’s a forced subsidy of a bloated and overpriced HMO/PPO industry that adds little value to the doctor-patient relationship. All they do is act as a middleman and suck profit out of the healthcare system. Repeal Obamacare and just give us single payer already.

Comment by Oddfellow
2015-07-31 06:38:02

One micronation (whose citizens are a family of four) had an attempted coup (really a stealth takeover, a la Crimea) by a German businessman, whom they captured and held as a prisoner, eventually requiring an ambassador from Germany to come and negotiate his release. On one of England’s old pirate radio station/WW2 sea forts that is now a micronation.

The Strange and Eccentric History of Creating a “Micronation”
by 99% Invisible

In 1933, delegates from the United States and 14 other countries met in Montevideo, Uruguay, to define what it means to be a state. The resulting treaty from the Montevideo Convention established four basic criteria for statehood—essentially, what is required to be recognized as a country.

The state as a person of international law should possess the following qualifications: a defined territory, a permanent population, a government, and a capacity to enter into relations with the other states.

Over time, some people got to thinking that the criteria for becoming a state seemed surprisingly simple. So simple that some attempted to declare their houses as independent countries. So-called micronations popped up around the world.


The president of Molossia, Kevin Baugh, walks around in full military regalia, like a dictator. Molossia’s currency is pegged to the price (in U.S. dollars) of Pillsbury cookie dough. A few years ago, Baugh started the Micronational Olympics, where micronations compete against one another in events like checkers and the boomerang throw.


Comment by 2banana
2015-07-31 06:59:50

Looks like ISIS is a state

Comment by Goon
2015-07-31 09:41:40

This is a very long piece about ISIS from the New York Review of Books:


I suggest that your buttboy Scott Walker read it before the debate next week and before the next time he runs his fat mouth off again about “boots on the ground”

Comment by rms
2015-07-31 08:07:47

Has a 360-degree view!

Comment by rj chicago
2015-07-31 08:29:03

Help my ailing, aging brain - wasn’t there a Mel Brooks movie a while back about a guy who was the emporer of some made up spoof of a nation? I can’t recall but there is something in the ether of my brain that says I saw this once.

Comment by Overbanked
2015-07-31 09:19:31

“The Mouse That Roared” (Peter Sellers.)

Comment by rj chicago
2015-07-31 11:24:31

Thank you - I can sleep all the way through the night tonight!!!

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Comment by In Colorado
Comment by Dman
2015-07-31 09:56:54

“A land that I didn’t make up.”

Comment by Ethan in Northern VA
2015-07-31 12:34:07

I have met one of the people involved in that offshore platform data haven thing. One year he gave a talk that was positive about it, then the next year and basically told all. The banks wouldn’t respect them at all and thus they could never process credit cards and were cut off from a lot of money transactions. And most of the customers were sketchy.

Bitcoin could change it a bit now I suppose.

He said for long periods of time the wifi or commercial PTP wireless link would go down and the entire thing was running on a 9600 baud cellular connection.

Comment by Oddfellow
2015-07-31 12:44:54

I like the currency peg to the cost of Pillsbury cookie dough (in US$). Their cookie dough contains sugar, wheat flour, and canola oil, so you have a strong commodities base, as well as a manufacturing element and the US dollar all reflected in the price of your currency.

Comment by Nat Turner
2015-07-31 06:57:05

More of this WASP culture I keep reading about from posters on HB blog, I wonder how those kids felt?


Comment by 2banana
2015-07-31 07:18:38

And he was charged with murder.

There will be 20 dead blacks this weekend in Chicago and LA. Neither you or the press will give a damn.

No money in it
No votes in it
No way to stir up the base with it
Doesn’t fit the meme

Comment by Nat Turner
2015-07-31 07:48:02

I do give a damn…you are the one that doesn’t give a damn. And that violence that you are talking about is related to the drug trade and lack of job….you and the rest of the WASPs on this blog are going to find out what that life is about once your rich masters at the top finish killing off the White middle class☺️ Chickens coming home to roast sucker!!

Comment by Goon
2015-07-31 07:58:28

chickens coming home to roast

Tell me I’m not the only one on HBB who misses Kenny Rogers Roasters?


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Comment by PlainTrain
2015-07-31 09:36:26

Sam’s Club has a really nice rotisserie chicken. $5 for a whole cooked bird.

Comment by Oddfellow
2015-07-31 11:36:27

” $5 for a whole cooked bird”

That’s what killed Kenny Roger’s. That’s when he knew it was time to fold ‘em.

Comment by Raymond K Hessel
2015-07-31 17:36:11

Sam’s Club has a really nice rotisserie chicken. $5 for a whole cooked bird.

Those roasters are the older hens most full of antibiotics and female hormones.

Comment by joe smith
2015-07-31 12:46:04

Do you even know what WASP means? You’re talking to a person who reacts (not thinks) and can barely string 2 sentences together.

I can pretty much assure you that 2ban, NYCdj, and northTeasterner are not WASPs.

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Comment by MightyMike
2015-07-31 13:01:58

You could say that there are two meanings. The acronym describes a person’s ancestry and religion. But there’s often an assumption that a WASP is also rich, well-educated, well-connected, etc.

By the way, I think that the term was coined a person from your part of the world, the Philadelphia Main Line.

Comment by Ben Jones
2015-07-31 14:44:37

‘You’re talking to a person who reacts (not thinks) and can barely string 2 sentences together.’

Don’t be so hard on yourself joe. I’ve seen you string 2 sentences together at least a couple of times.

Comment by rj chicago
2015-07-31 08:25:20

Bring it 2B! Bring it.
I would say that this weekend is a toss up with Lollapalooza in town - could be really bad or maybe not so bad as to keep the touristi safe.

Comment by Nat Turner
2015-07-31 06:59:55

An unarmed black male who was not a threat and was gunned down by a white police officer for fun….I guess this is another example of the WASP culture that makes White Americans do superior:


Comment by Goon
2015-07-31 08:05:57

WASP culture

One of my favorite parts of Tom Wolfe’s “Bonfire Of The Vanities” is when the Jewish lawyer character discovers that everyone in New York is not Irish or Italian or Jewish or Black or Hispanic and learns that there is this rare creature known as the WASP that actually owns and controls Manhattan

P.S. my late Uncle Goon was Princeton class of ‘42 and Chicago Social Register 8)

Comment by rj chicago
2015-07-31 08:31:30

Me bein a WASP - I am a dying breed there babe!!

Comment by Nat Turner
2015-07-31 08:34:17

You can thank your masters at the top for that😛

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Comment by Nat Turner
2015-07-31 08:36:08

People of color around the world will be thankful when this task is completed, however, all of the praise must be saved For your masters at the top for this achievement😛

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Comment by nhtransplant
2015-07-31 09:43:33

They’ll be thankful til the power plants and the sewer systems stop working, anyway! ;)

Comment by Nat Turner
2015-07-31 10:53:28

Yea, cause the only people who know know how to operate power plants and deer systems are white, lol. Check your history it was Africans who taught Europeans about HYGIENE in the first place, that’s why we never suffered from the Black Death in the first place 😊

Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 12:16:59

Nat forgot to learn science and history before he started commentating on the interwebs.

Comment by Nat Turner
2015-07-31 12:57:46

lol, yea cause every post I made is filled with lies. Don’t worry the powers that be will make sure your white utopia comes crashing down very soon….or are you stupid enough to believe that Obama aka the Black guy is really the one that is in charge?

Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 13:43:13

Africans did not teach Europeans about hygiene. And you didn’t get the plague because you hadn’t developed cities yet. You now have ebola, congrats. US companies (employing almost entirely white scientists) have found various cures and treatments for it, though.

Comment by Nat Turner
2015-07-31 13:46:36

Where is your evidence that Africans did not teach Europeans about hygiene? Have you ever heard of the Moors? Of course not…I can tell reading is not your thing cause if it was you would know the significance of my name ☺️

Comment by Nat Turner
2015-07-31 14:09:08

Also, that Ebola “virus” you talk about was a man made version of the virus. This “outbreak” is just another example of the benevolent nature of white people…I can direct you to the patient of you would like. Unlike you I can back up what I write.

Comment by nhtransplant
2015-07-31 15:46:06


A $22 million wastewater treatment plant nearby stopped working shortly after being built in 2000 because it wasn’t maintained, according to the World Bank. Three fecal-sludge treatment plants don’t work because of poor maintenance. The existing sewer system, which reaches fewer than 10 percent of city’s residents, isn’t being looked after, the lender said.

Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 16:48:56

This Nat guy must be a joke.

Comment by Raymond K Hessel
2015-07-31 17:44:55

I’m guessing he’s a white dude masquerading as a black militant to troll us.

Comment by Nat Turner
Comment by MightyMike
2015-07-31 09:17:02

It’s not realistic for a Jewish lawyer in New York to be surprised by such a thing.

Comment by Goon
2015-07-31 09:59:00

Read the book and get some context, you petulant little ankle biter

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Comment by MightyMike
2015-07-31 13:26:28

I was just commenting on what you wrote. I did a quick check and saw that that book is nearly 700 pages long. I don’t know what the context could possibly. Maybe the guy lives in one of those ultra-Orthodox communities in Brooklyn that keeps its contact with the outside world to a minimum.

Comment by phony scandals
2015-07-31 14:26:12

“you petulant little ankle biter”

Shouldn’t that be Mighty petulant little ankle biter?

Comment by joe smith
2015-07-31 12:47:45

^^ this.

Whites from a good background don’t buy into the reactionary teabagger soundbites. This doesn’t mean they are RINOs. It means they have been taught to think pragmatically rather than emotionally. 2ban is a case study in emotional reactions.

Comment by Oddfellow
2015-07-31 13:14:46

Goon doesn’t buy into the reactionary teabagger soundbites? He repeats them incessantly. Thinks the gov is coming for his guns. Thinks the feminists are all hairy-armpitted emasculators.

Or is it all irony?

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Comment by phony scandals
2015-07-31 19:06:37


Good thing Obama and the gang sicked the IRS on them huh Joe.

I mean we can’t have people disagreeing with Obama’s policies and people like you and Oddie etc. in this country.

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Comment by Oddfellow
2015-07-31 10:17:19

Remember, the cops are always telling the truth, and the ‘thugs’ are always lying.

New Body Cam Videos Show Cops Coalescing Around False Narrative of Sam DuBose Killing


Comment by Raymond K Hessel
2015-07-31 17:42:06

You’d have more credibility, Nat, if you said the cop was amped up on adrenaline, power tripping, and possibly scared for his life in that situation, as a lot of cops are getting shot at traffic stops. I seriously doubt the cop derived any “fun” from the situation, though it does seem like another example of needless escalation over a trivial traffic infraction. That said, it does seem like a clear-cut case of excessive force. You don’t seem to have been on the HBB long enough to know quite a few of us “WASPs” have been highly critical of police for abuse of authority, bullying and trampling on the rights of citizens (all of them, not just black people) and failing to “protect and serve.”

Comment by MightyMike
2015-07-31 18:05:26

So you’re saying that all white people shouldn’t be blamed for the actions of a few criminal whites? That’s a really good thought there. It’s so good, you could even apply it to other kinds of people.

Comment by Professor Bear
2015-07-31 07:05:02

Market Extra
Bill Gross: Low interest rates have created ‘zombies’ instead of curing the economy
Published: July 30, 2015 6:10 p.m. ET
Cheap debt has kept near-death companies alive
MarketWatch photo illustration/Bloomberg, Everett Collection
Corporate zombies walk among us, thanks to years of near-zero rates, in Bill Gross’s view.
By Wallace Witkowski

Years of low interest rates have gradually created a horde of zombie corporations, and central banks need to realize that near-zero rates aren’t a cure for what ails the economy, wrote Bill Gross in his most recent letter to investors.

“Because BB-, B-, and in some cases CCC-rated companies have been able to borrow at less than 5%, a host of zombie and future zombie corporations now roam the real economy,” the bond guru and portfolio manager at Janus Capital said in his August letter.

Even for higher-rated companies, cheap debt is fueling a boom in stock buybacks rather than encouraging investment and job creation, Gross said, noting that buybacks are running at an annual rate of $1.02 trillion, well above the 2007 high of $863 billion.

As a result, Gross said the mechanism of creative destruction, “the supposed heart of capitalistic progress,” has been neutralized, with old or ailing companies on life support and new investment stifled.

“Low interest rates are not the cure — they are part of the problem,” Gross wrote.

What’s the formula for finishing off the zombies and reintroducing the heart of capitalistic progress back into the economy? Gross looks to the Bank for International Standards — “the central banks’ central banker” — for guidance.

In its most recent annual report, the BIS said that persistently ultralow interest rates “can inflict serious damage on the financial system” and “sap banks’ interest margins and returns from maturity transformation, potentially weakening balance sheets and the credit supply.”

In addition, the BIS said ultralow rates undermine the profitability and solvency of insurance companies and pension funds, and “can cause pervasive mispricing in financial markets.”

Gross expresses hope that the Federal Reserve will lead the way in weaning the patient off a years-long treatment and come up with more creative ideas regarding monetary policy.

Comment by Dman
2015-07-31 10:01:44

I don’t remember people complaining about low rates in the build up to the last bubble, but now, there’s no shortage of people pointing out that low rates are what got us into the last mess. There are a lot of people who will be able to say I told you so this time.

Comment by X-GSfixr
2015-07-31 08:41:51

“Kansas circling the Bowl” Watch, Day 1663


Comment by WPA
2015-07-31 08:54:09

Yes, failing Kansas schools: a prime example of what happens when you have smaller and smaller government with less and less taxes. But, have no fear, “trickle down” will save Kansas as jobs fall from the sky and a shining city on a hill will rise from the plains.

Comment by X-GSfixr
2015-07-31 09:21:00

They will make it up on volume.

Comment by Dman
2015-07-31 10:06:23

The Kansas Governor is a Koch Brothers butt plug, just like Scott Walker. They want to do to the entire country what they did to Kansas, and what better way to do it than dumbing down the electorate with crappy schools?

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Comment by Oddfellow
2015-07-31 10:32:12


Comment by Raymond K Hessel
2015-07-31 17:46:45

Koch suckers.

Comment by joe smith
2015-07-31 12:53:01

Cut taxes for the largest corporations and give them subsidies that they don’t need… but pay teachers as little as possible. Then, when you can’t find enough teachers, just put substitutes (who don’t have a college degree) in the classroom.

Sounds like an awesome plan. Also explains why small town USA continues to be hollowed out.

Comment by rj chicago
2015-07-31 09:07:37
Comment by X-GSfixr
2015-07-31 09:19:28

“Kansas circles the Toilet Bowl” Watch,……..day 1664


Also could be titled: “Brownback budget uses Obamacare money to offset revenue losses due to tax cuts”.

See the article for a handy laundry list of whats being cut………basically health care services for poor people and veterans, the DOT and Department of Wildlife and Parks.

Additional revenue is “created” by some 2014 spending coming in under budget. Yeah, that’s a nice message to send…….save money, and see your budget cut.

In the meantime, good news?

“Health Services company will add 500 jobs…….”


Oh…….never mind. These jobs will be in Missouri

Comment by Goon
2015-07-31 09:20:24

Warmist Warming Friday

“This study strongly suggests that we need to develop tailored climate change communication strategies for individual countries, and even for areas within the same country”


That sounds like a job for the real journalists, LOLZ

Comment by Dman
2015-07-31 10:09:31

Letting Bangladesh know that it won’t exist a few decades from now will be a good place to start.

Comment by Goon
2015-07-31 10:42:08

Single occupant household here, 185,000+ miles on the truck, 130,000+ miles on the car, my carbon footprint kicks your carbon footprint’s @ss

“This sucker could go down” — George W. Bush, 2008

Comment by rj chicago
2015-07-31 11:27:45

Goon starting to roll coal again!!! Yeee haw!!
Crushed and Prius’s lately?

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Comment by Goon
2015-07-31 11:42:43

My (gasoline engine) Civic gets 37mpg on the highway

Dudes who roll coal secretly wish they were gay Boy Scout Troopmasters

Comment by Califoh20
2015-07-31 13:16:33


Comment by In Colorado
2015-07-31 12:25:17

I thought you walked everywhere while you hit on slender millennial chicks in yoga pants ;-)

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Comment by Dman
2015-07-31 13:35:53

TWO vehicles!? I didn’t know we had any millionaires that posted here.

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Comment by Califoh20
2015-07-31 18:50:56

and an above ground pool AND a trampoline!

Comment by X-GSfixr
2015-07-31 09:42:28

Huh,……posts aren’t making it.

500 new jobs in the KC area. Too bad they are all in Missouri.


Note: These jobs are all subject to the KC Mo. 1% “earnings tax”. I guess those dumb Arizonans don’t realize how much money they would save by placing these jobs in Tonganoxie or Lansing.

Unless, of course, their decision was based on other things besides tax rates.

Comment by MightyMike
2015-07-31 09:51:24

Not only that, they chose to create those jobs in a city, passing on suburbs on both sides of the state line.

Comment by rj chicago
2015-07-31 11:39:31

Current immigrant situation at Calais / Euro Tunnel to UK…..
Looks like the refugee camps are springing up all over the place.


Comment by In Colorado
2015-07-31 12:12:54

The Camp of Saints is turning out to be non-fiction

Comment by Goon
2015-07-31 11:47:21

Breitbart article about Trump (Andrew Breitbart was murdered under direct orders from King Obama) written by Milo (gay) says The Donald is first black president:


Real journalists can go choke on a chicken bone

Comment by Oddfellow
2015-07-31 12:12:09

I’m about ready to quit reading breitbart articles just because of the annoying way they continually jump up and down as various ads open and close while you try to read the article. It’s an annoying trend everywhere on the web, but breitbart has brought it to an unacceptable level. It’s like trying to read while whitewater rafting.

Anyway, Lincoln was the first black president, Clinton (Bill) was the second, Obama possibly the third (has anyone rubbed his skin really hard?). And this article is as poorly written and reasoned as the breitbart piece on Kochservatives, even without the nonstop jumping page.

Comment by X-GSfixr
2015-07-31 12:27:20

“…….rubbed his skin really hard?”

“Why Rhett! What have i told you about washing up after weekly cross burnings?”

(Turns hand palm up)

“See? It’s coming off…….”

Comment by azdude
2015-07-31 12:05:04

“We can hope, but it is that kind of “transparency” that the NY Fed will never agree to because, gasp, someone may just admit that while central banks like the SNB, the BOJ and, of course, the Chinese in the past month, have been openly buying stocks, the “value” of the S&P500 is nothing more than a function of how many times the NY Fed’s trading desk at 33 Liberty Street pushes the “buy” button on any given day.”


What happened to price discovery?

They are making people lose confidence in a rigged game.

Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 12:10:47

Gimme a “T”.

Comment by Oddfellow
2015-07-31 12:14:07

Where do you want it?

Comment by Mafia Blocks
2015-07-31 14:22:11


Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 14:45:44

I can’t hear you!

Comment by phony scandals
2015-07-31 14:29:52


Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 14:50:09

Gimme an “E”.

Comment by Mafia Blocks
2015-07-31 15:18:31


Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 15:45:53

Gimme an …

Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 16:37:22


Comment by phony scandals
2015-07-31 16:50:36


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Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 16:50:25

What does that spell?

Comment by phony scandals
2015-07-31 16:55:04



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Comment by Mafia Blocks
2015-07-31 17:05:39


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Comment by "Auntie Fed, why won't you love ME?"
2015-07-31 18:00:53


Comment by Mafia Blocks
2015-07-31 18:05:43


Comment by Goon
2015-07-31 12:38:44

Last article from me for today, here from evil racist FoxNewsHate:


How’s that Hope and Change working out for you now?



Comment by X-GSfixr
2015-07-31 12:42:53

From Zero Hedge:

“Secret NSA map shows five years of Chinese cyber attacks”


Don’t know why the NSA is getting their panties wadded up. Our business leaders have been doing a fine job of shipping technology to China by themselves.

Stealing military secrets? Only a problem if you actually believe we are ever going to get into a shooting war with the Chinese. Too many western oligarchs have too much money invested there for that to ever happen.

If they steal enough, they too can have a overpriced and underperforming military industrial base.

Comment by dude
2015-07-31 13:51:50

I dipped my toes back in USO today.

Comment by azdude
2015-07-31 14:29:34

how many shares did you buy? You gonna dollar cost average in?

How long before oil is the new coal?

Comment by rj chicago
2015-07-31 14:04:11

Chicago’s budget deficits to persist -city analysis
Reuters 7/31/2015 4:17 PM ET
Print Article
CHICAGO, July 31 (Reuters) - Budget deficits are projected to persist for Chicago as pension and debt costs gobble up more revenue, according to an annual financial analysis released by the city on Friday.

While the report projects that fiscal 2016 expenditures will outstrip revenue by $232.6 million, the lowest gap since 2008, additional pension and debt payments would push the deficit to $425.6 million. Budget gaps would continue through fiscal 2018, when the deficit could range from $132.4 million to $801 million. (Reporting by Karen Pierog; Editing by Matthew Lewis)

Comment by azdude
2015-07-31 16:49:07

“If the Bank of Japan can become the only game in town for its ‘own’ bonds and kill the market for these bonds that way, what can we expect from central banks moving head first into stocks? What about a permanent high, or, to be precise, a permanent higher, as long as they keep buying, and after that a whole lot of nothing because all trade has been stifled? Why do we even still talk about bond ‘markets’ and stock ‘markets’? Doesn’t that imply there should be actual trading going on?”


Comment by phony scandals
2015-07-31 14:36:18

DNC Chair Grilled on MSNBC: ‘What’s the Difference Between a Democrat and a Socialist?’

Jul. 30, 2015 9:11pm
Oliver Darcy

That’s when Matthews hit her with a question she didn’t appear ready to answer.

“What’s the difference between a Democrat and a socialist?” he asked. “I used to think there was a big difference. What do you think it is?”

Wasserman-Schultz attempted to dodge the question, saying what was important was how different the Republican and Democratic candidates are.

Matthews, however, pressed on.

“You’re the chairman of the Democratic Party. Tell me what’s the difference between you and a socialist,” he said.

Wasserman-Schultz again, insisted that the real debate should be focused on how different the two parties are in terms of ideas and policy.

http://www.theblaze.com/…/ - 257k -

Comment by phony scandals
2015-07-31 15:49:39

Another act of love

FBI: Suspect in Montana shooting says victim laughed at him


Friday, July 31, 2015 04:43AM


An 18-year-old Wyoming man accused of robbing and shooting three members of a family after asking for roadside help told investigators he opened fire after one of the victims laughed at him, an FBI agent said in a court filing Thursday.

Jason Shane, 51, and Tana Shane, 47, died in the Wednesday shooting in the small town of Pryor, FBI spokesman Todd Palmer told The Associated Press. Their daughter, 26-year-old Jorah Shane, was shot in the back when she tried to run away, and she is recovering in a Billings hospital, the woman’s aunt, Ada Shane, said.

The statement by Special Agent Larry McGrail II was filed in U.S. District Court seeking a murder warrant for Jesus Deniz, also known as Jesus Deniz Mendoza, of Worland, Wyoming.

Two FBI agents interviewed Deniz on Wednesday, and Deniz acknowledged shooting three people with a .22 caliber rifle and then driving away in their car, McGrail’s statement said.

“Deniz told the interviewing agents that he shot the victims because he was getting tired of waiting around, and because the daughter had laughed at him,” the statement said.

Deniz is being held in Park County, Wyoming, after police arrested him near Meeteetse, about 120 miles away from Pryor. A judge’s signed warrant would begin the process of returning Deniz to Montana to face charges in the killing.

U.S. Magistrate Judge Carolyn Ostby scheduled an initial court appearance for Deniz on Friday.

Jorah Shane recounted to her relatives the events leading to the shooting. Her mother, Tana Shane, drove by a young man parked on the side of the road who told her he had run out of fuel, Ada Shane said.

“He’s only 18, and he looked like an innocent boy,” Ada Shane said. “Both my brother and sister-in-law have big hearts.”

Tana Shane went by her house, picked up her husband and daughter, and they drove back to the stranded car, Ada Shane said. The man pulled a gun and held it to the temple of 51-year-old Jason Shane.

He ordered the father to stop the car and told everybody to get out, Ada Shane said. He told the family to give him their money, but the family said they had only change because they recently returned from a religious revival in Window Rock, Arizona.

The man told the family to start walking. Tana Shane told her daughter in their Native American language to run. Jorah Shane told her aunt that she heard a shot, started running then heard bullets whizzing by her head. She fell, heard another shot, and started running again toward a church just as a car was pulling out.

She ran to the car, and the frightened driver leaped out, Ada Shane said. Jorah Shane jumped in the driver’s seat and drove to her house with the shooter still firing at her, the aunt said.

McGrail’s statement largely confirmed the account by Ada Shane, though it did not name the victims and it said the driver who stopped near the church got out of the car to check on the woman’s parents.

Jorah Shane was later hospitalized. A bullet had grazed her head and she had a gunshot wound to the back. She didn’t know as of Thursday that her parents had been killed in the shooting, Ada Shane said.

“Last night before she went in, she told everyone to go look for her mom, she’s hiding in the field,” Ada Shane said.

The aunt said relatives have kept the hospital room’s television off and she doesn’t know how they will break the news to her.

Palmer, the FBI spokesman, declined to identify Jorah Shane as the wounded person, saying the FBI does not provide information about potential witnesses.

It is not clear whether Deniz has an attorney. Park County court officials said a hearing had not been set for Deniz.

Messages left on two phone numbers listed under Deniz’s name were not returned

abc13.com/news/family-gunned-down-while-trying-to-help-stranded-driver/895037/ - 124k -

Comment by Raymond K Hessel
2015-07-31 17:28:43
Comment by phony scandals
Comment by AbsoluteBeginner
Comment by phony scandals
2015-08-01 06:14:29

Sandy Hook Demolition Crew Sworn to Silence 110

October 15, 2013

by James Tracy • Home • Tags: gun control, public opinion, Sandy Hook Elementary

Employees of a construction company contracted by Newtown to demolish Sandy Hook Elementary School must sign non-disclosure agreements before commencing work on the project, scheduled to begin October 21. The contracts reserve the right to pursue legal action against workers who publicly discuss what might be observed as the 57-year-old structure is leveled. Penalties also apply to employee attempts at removing any physical remains from the site.

Exhaustive in scope, the agreement requires workers to refrain from leaking information on virtually anything encountered on Sandy Hook grounds during or after their time of employment with Consigli Construction, the company subcontracted to carry out the demolition.

No unauthorized disclosure or removal of confidential information from the school, including any oral, written, graphic, software, technology, or virtually any items that belong to the school.

All measures [will] be taken to protect the secrecy and avoid disclosure of confidential information into the public domain; notification to the town of any disclosure of confidential information that may come to the company’s attention.

No publication or posting of any information related to the project, and no photographs, drawings or other images of the school; no removal of any items from the school from dirt and bricks to doorknobs and window glass; any town documents be returned to the town; these commitments survive beyond the conclusion of an individual’s employment.[1]

memoryholeblog.com/2013/10/15/sandy-hook-demolition-crew-sworn-to-silence/ -

(Comments wont nest below this level)
Comment by Raymond K Hessel
2015-07-31 17:52:33

Venezuela is an instructive object lesson in the end game of every socialist state, when the producers get overwhelmed by the takers and the host succumbs to its parasites.


Comment by Realtors Are Liars®
2015-07-31 18:07:21

Realtors Are Liars

Comment by Selfish Hoarder
Comment by AbsoluteBeginner
2015-07-31 19:41:23

Better than Daft Punk? Maybe:


Comment by Raymond K Hessel
Comment by AbsoluteBeginner
Comment by Selfish Hoarder
2015-07-31 21:50:56
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