August 15, 2015

Bits Bucket for August 15, 2015

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

RSS feed


Comment by Professor Bear
2015-08-15 00:57:31

Did your commodities investments take a beating so far this year? (Turns out that I was early on my energy mutual fund purchase last winter! )

Comment by Ol'Bubba
2015-08-15 05:14:10

I’ve had a position in the energy spider (XLE) since around 2001. I remember thinking to myself in June or July of 2014 that maybe I should sell, but I didn’t. It’s down about 30% since last summer’s highs.

It’s performed fairly well over the past 14 years and the trailing 12 month dividend is about 7.4% of my cost basis. It’s greatly outperformed the SP500 over my holding period.

I think the key is the time in the market (rather than timing the market) for this one (XLE).

Precious metals have not been doing well over the past 3-4 years, but you need to go back and review why you bought them in first place. In my case, the reasoning was to diversify into another asset class to help stabilize the portfolio. With a 2006 basis, the GLD position is showing about a 7% CAGR return over the holding period to date. That’s way down from 2011, but still an acceptable performance given its role as an asset diversification vehicle.

I was early into the Emerging Markets when I started dollar cost averaging into the Vanguard Emerging Markets index fund, down about 11-12% over the last 18 months. I’ve been thinking harvesting the tax loss and putting the proceeds into the Total International Index fund, which still has about 18% exposure to the Emerging Markets sector.

Comment by taxpayers
2015-08-15 05:38:21

Any local updates?
Zillow updates today ,don’t know about movoto
I think July 5th was the peak for several markets

Comment by Blue Skye
2015-08-15 05:58:51

“the key is the time in the market…”

Speculators generally seem to win when they bet on any of these gauges of credit expansion, during the expansion. During the contraction, the buzz words, theories and strategies don’t seem to mean much and they get cut to pieces.

Comment by MD
2015-08-15 09:23:37

I’m also getting murdered in my Royal Dutch Shell, BHP Billiton, and BP holdings!

Hope that crushing. commodity. losses. leads to crushing. housing. losses so I can afford a crap shack at a bargain price.

Comment by Professor Bear
2015-08-15 11:19:28

You would think there would be spillover from commodities and U.S. stock market losses into housing, wouldn’t you?

Comment by NJDude
2015-08-15 18:12:29

Sold all my KMI stock last week. Came out with a small profit…used to a very big profit just a few months ago.

Of course, the day after I sold my stock, the Vampire Squid (Goldman Sachs) comes out with a “must buy” for it’s dividend–pushing the stock up.

Comment by Goon
Comment by ComfortableClass
2015-08-15 05:54:35

Bernie Sanders is Jewish. How does this affect everything?

Comment by 2banana
2015-08-15 06:22:41

Jews consistently vote (on average) 75%+ for democrats.

In fact, they are about as staunch supporters (votes and money) for the democrats party as you could find (on par with blacks and unions).

Comment by SUGuy
2015-08-15 07:47:09

CA, IL, NY, PA, MD, MA, FL NJ, OH are all ( vote) democrat states. Except for NY, CA, IL the number of Jewish voters are insignificant to make a difference in the outcome. This voter’s thing is a lost cause for AIPAC. Eventually AIPAC will become irrelevant.

Jewish Population in the United States, by State

Comment by Raymond K Hessel
2015-08-15 08:09:32

Numbers has nothing to do with it. Financial clout has everything to do with it. Go to Open Secrets dot Org and follow the money.

(Comments wont nest below this level)
Comment by rms
2015-08-15 08:48:08

“It goes without saying that you don’t have to be Jewish to be in the thrall of Zionist ideology; and also that, even among Congressional Democrats, rabid Israeli chauvinism afflicts only a minority of American Jews.

Indeed, in Congress, refractory Democrats like Schumer are not the main problem. That dubious honor goes to the entire House and Senate roster of Republican members. Each and every one of those miscreants puts Israel’s interests, as the Netanyahu government understands them, first.”

Exactly… the U.S. does not come first in their agenda.

Comment by Goon
2015-08-15 12:30:29

This +1,000

Comment by palmetto
2015-08-15 03:26:30 asks will El Nino rain on California’s real estate parade?

Comment by WPA
2015-08-15 08:11:34

will El Nino rain on California’s real estate parade?

Nah. If we get lots of rain the lawns will green up again, boosting curb appeal. Our Zillow numbers will go up again. Life will be good again here in the Golden State.

Comment by ComfortableClass
2015-08-15 08:58:30

That’d be my guess also. Rain helps them.

Comment by Professor Bear
2015-08-15 09:20:54

Screw the used home sales people. We need the rain!

Unfortunately for California, whenever we get weather conditions to end a drought, they inevitably come with floods and mudslides in the numerous recent-burn areas, not to mention in every other low-lying area with a dry stream bed.

Comment by The Order Of The Golden Chainsaw
2015-08-15 14:13:31

Get out of the hell hole when you can. There are thousands of places as beautiful, if not more than cali in god’s green earth.

Comment by NJDude
2015-08-15 18:05:25

With all the flooding and mudslides that would result from an El Nino, it good in the sense of where NOT to buy a house.

Comment by palmetto
2015-08-15 03:29:39

Chinese air pollution kills 4000 people a day????????

Wait, what? Aren’t these the folks with the superior IQ?

Comment by ComfortableClass
2015-08-15 05:56:30

That’s 80 Tianjin port explosions every day.

Cell phones kill more people than handguns.

Comment by Blue Skye
2015-08-15 06:00:52

Texting is risky. It’s like the old saw; The pen is mightier than the sword.

Comment by ComfortableClass
2015-08-15 06:08:08

A great many of these are tragically ironic kids texting parents asking the kids where they are and when they’ll be home. Kids are afraid not to text back immediately and end up doing it while driving.

(Comments wont nest below this level)
Comment by Mafia Blocks
2015-08-15 04:25:08


25,716 properties found New York, NY Real Estate and Homes for Sale

5,143 properties found New York, NY Price Reduced Homes for Sale

Slashing prices….. slashing slashing prices. Keep slashin’.

Comment by taxpayers
2015-08-15 05:42:00

Good thing they filmed the ny million dollar listing show way back

Comment by SUGuy
2015-08-15 08:11:02

Usually by this time of the year the number of properties for sale on the CNY Homes is below 2000 homes for sale. This year it is about 4 times as many. Nothing much is selling above the $300K but homeowners keep listing homes at their wishing prices. Homes are selling that are priced between 50K to 170K, At the rate homes above 300K are selling we have about 20 to 30 years of supply and more homes for sale keep coming on the market.

7351 homes for sale.

11,094 properties for sales on CNY realtor

Comment by oxide
2015-08-15 04:37:49

My fossil mutuals took a small beating since Christmas, but I’m not too worried about it. China will eventually need oil again.

Comment by taxpayers
2015-08-15 05:40:44

I saw someone wine driving a car
Oxide are you seeing inventory build since 7/5 in your sector.

Comment by taxpayers
2015-08-15 05:43:31

Oxide is inventory building in your oblast ?

Comment by oxide
2015-08-15 11:22:43

Yes, it is, especially i the outlying areas. Was just driving out in the horsey country areas and saw a LOT of For Sale signs.

Comment by Blue Skye
2015-08-15 06:04:03

What China did in the last decade will not be seen again in our lifetimes.

Comment by Mafia Blocks
2015-08-15 06:10:55


The contortions that washed up stooges make. :mrgreen:

Comment by Professor Bear
2015-08-15 09:25:22

Yes they will…in a couple of decades from now.

Comment by SUGuy
2015-08-15 09:56:53

How so ?

Comment by Professor Bear
2015-08-15 11:21:52

I was thinking China’s economy might be back on its feet by a couple of decades from now…somewhat like Japan’s experience from 1990 through 2010.

(Comments wont nest below this level)
Comment by Professor Bear
2015-08-15 11:37:24

International Business
Devaluation Hints at China’s Rising Distress Over Economy
点击查看本文中文版 Read in Chinese
AUG. 12, 2015
Diners at a table lifted by a crane to a height of about 100 feet, with a view of a residential construction site in Kunming, China. Credit Wong Campion/Reuters

HONG KONG — Whenever China’s economy swooned in recent downturns, its currency never buckled. It held steady, or strengthened, even as China’s neighbors or trading partners scrambled to cut the value of their own currencies to deal with the fallout.

With the Chinese renminbi now taking its biggest plunge in decades, the worry is that the country’s already slowing economy is even worse off than reported and that the government is panicking. On Thursday, China allowed the renminbi to weaken significantly for a third consecutive day.

The situation is shaking the aura of supremacy surrounding President Xi Jinping and the Communist Party, which has portrayed a sense of ultimate authority. But the Chinese government’s response to the country’s financial woes is creating concerns about its ability to manage a slowdown.

“People are used to growth and rising living standards,” said Jonathan Fenby, an author and co-founder of the research firm Trusted Sources. “But now they are in a ‘real’ world, and the leadership has to convince them both that slower growth is in their long-term interests and that it is in control.”

By the official measures, the economy is growing at 7 percent, right in line with government targets. It is a steady pace that the leadership has indicated can support decent job growth and put more money into consumers’ pockets.

But a look below the surface shows a different, more worrisome picture. Core parts of the economy, like construction, are weaker than ever as the real estate industry struggles. Consumer spending, which was supposed to pick up the slack, is not that strong. And financial services, a major driver of economic growth when the stock market was booming, are slipping.

The data coming out of China, too, is somewhat suspect. Economists now wonder whether, despite official figures showing growth, some provinces and regions could be dealing with outright recessions.

To be honest, no one has a clue where the economy is, and I don’t think that it’s properly measured,” said Viktor E. Szabo, a senior investment manager at Aberdeen Asset Management.

Definitely there is a slowdown,” he added. “You can have an argument about what level it is, but it’s not 7 percent,” he said, referring to the rate of growth.

Comment by Professor Bear
2015-08-15 15:27:21

That predicted $80/bbl price by December 2015 is looking more and more like a pipe dream.

Markets Commodities Oil Markets
Oil Futures Signal Weak Prices Could Last Years
The oil market indicates that prices could stay lower for longer, delivering a fresh blow to hard-hit energy exploration-and-production companies
By Nicole Friedman
Updated Aug. 10, 2015 9:01 a.m. ET

The oil market is signaling that prices could stay lower for longer, delivering a fresh blow to hard-hit energy exploration-and-production companies.

Benchmark U.S. oil futures for September delivery are nearing the six-year low hit in March. But contracts for delivery in later years have taken an even bigger hit, with prices for 2016 and 2017 already trading below their March lows.

That indicates that investors, traders and oil companies see the global glut of crude oil persisting beyond this year.

Comment by Oddfellow
2015-08-15 05:16:50

Great contribution from my homey Palmy yesterday. One that, like the theory of relativity (!), requires a complete revaluation of all values, and at the same time shows how so many of us have been played. All of us, really, since we all live with the results.

Comment by Oddfellow
2015-08-15 05:28:43

It’s hard to excerpt this article, because it all needs to be read, if you dare.

Behind the scenes of the Donald Trump-Roger Stone show
by Tyler Durden

The three main takeaways you need to keep in mind in the Roger Stone-Donald Trump story are:

Roger Stone’s dirty tricks specialty is manipulating voter fractures, and weaponizing anti-establishment politics to serve the electoral needs of mainstream Republican candidates;
Roger Stone and Donald Trump have been working together since the mid-1980s, mostly on sleazy campaigns to help Trump’s casino business, but also in politics;
Roger Stone and Donald Trump worked together in at least two major “black bag” operations manipulating anti-establishment politics to help the mainstream Republican presidential candidate;

…As luck should have it, Muskie [read: Sanders] was hounded at his Florida hotel room during the primaries there by “angry” black picketers—who were secretly under Nixon’s White House supervision—demanding, angrily, that Muskie agree to name an African-American vice presidential candidate…

Muskie had his alleged meltdown in front of reporters—as snow fell on his face, he lashed back at the Nixon White House, but some national reporters mistakenly described the melting snowflakes on Muskie’s face as tears, and described his anger as a “breakdown.” Muskie was finished. Sort of like how Vermont front-runner in 2004, Howard Dean, was finished off by the one-two of Dean’s screechy “woo!” gesture, and Al Sharpton accusing Dean of being anti-black during the debates.

As it turns out, Al Sharpton entered the 2004 Democratic primaries on the payroll and orders of Roger Stone, who directed Sharpton’s attacks from the race politics-left against Howard Dean. And as the New York Times revealed that year, it was Donald Trump who took credit for introducing Al Sharpton — a one-time FBI informant — to his old friend and lobbyist, GOP dirty trickster Roger Stone.

Comment by Oddfellow
2015-08-15 05:50:33

The harassment of Sanders by black “protesters” is one of Roger Stone’s classic moves, he’s been doing it since his days with Nixon. Sharpton is a GOP establishment mole, working with Stone for decades. People who are outraged by Sharpton are being played by Sharpton.

That’s how they rule us. Divide us by race, religion, and the like, and play us like the suckers we apparently are.

‘You gotta keep ‘em separated!’

Comment by ComfortableClass
2015-08-15 06:02:39

I think Hillary or some other D has more incentive to weaken Bernie than the Rs. Every R I know would love for him to be the nominee. Hillary is the one that doesn’t want him as a viable alternative.

(Comments wont nest below this level)
Comment by Oddfellow
2015-08-15 06:17:29

Stone (and Trump) may well really be working for Hillary.

Comment by Raymond K Hessel
2015-08-15 07:48:29

Maybe the two ratchets who interrupted Bernie weren’t dispatched by some lowlife political operator. Maybe they were just disruptive SJW trouble-makers of the sort that are proliferating in today’s ‘Murica, all looking to “redistribute the wealth” (yours) in some form or fashion.

Comment by The Order Of The Golden Chainsaw
2015-08-15 08:10:47

Stone very well might have been, but I doubt Trump is. That’s why he quit or got fired.

Comment by Oddfellow
2015-08-15 08:26:36

“That’s why he quit or got fired.”

Oh did he? Check out his segment on Smerconish on CNN. In comments afterwards, everyone thought he was still on Trump’s team. Quitting to become a “disinterested observer” who continually touts his old “boss” is another old trick.

Comment by Professor Bear
2015-08-15 11:40:30

“…(and Trump) may well really be working for Hillary.”

That’s my MIL’s theory. Makes sense, as a fractured Republican party is a weakened Republican party.

For comparison, just think how much better Romney’s prospects would have been in 2012 if he had had the Party’s support early on. Instead he had to duke it out in a protracted battle with the motley assortment of RNC clown car occupants.

Comment by The Order Of The Golden Chainsaw
2015-08-15 14:05:29

duke it out in a protracted battle with the motley assortment of RNC clown car occupants.

So Romney is not a clown?

Comment by Ol'Bubba
2015-08-15 05:52:22

“it was Donald Trump who took credit for…”

This could become a very long list.

Donald Trump took credit for…

Comment by Oddfellow
2015-08-15 05:58:37

Agreed. But Trump’s assertations are a footnote in the article, not the basis of all evidence. That article is really a must-read.

(Comments wont nest below this level)
Comment by The Order Of The Golden Chainsaw
2015-08-15 08:00:14

Internet, too?

Al Gore will have a hissy-fit now.

(Comments wont nest below this level)
Comment by Professor Bear
2015-08-15 11:43:51

“Donald Trump took credit for…”

We need a guy like this in office to help ordinary Americans deal with their $1+ trillion in student debt and their $1+ trillion in auto loan debt.

Trump Teaches Americans a Bankruptcy Lesson

By Patrick Watson | Tuesday, 11 Aug 2015 11:03 PM

Is stiffing your lenders immoral? Billionaire Donald Trump doesn’t think so. Asked in last week’s Republican debate about his four business bankruptcies, Trump had no regrets. He said bankruptcy is a tool the “greatest people” use.

Trump is in good company on that point. Real estate developers routinely structure their holdings to insulate each property from problems elsewhere in their empires. In other words, they plan for potential bankruptcy from the very beginning. They use it strategically to defend their interests.

(Comments wont nest below this level)
Comment by Oddfellow
2015-08-15 06:02:15

Stone is on Smerconish, CNN right now!

Comment by Oddfellow
2015-08-15 09:58:01

If Smerconish were really the media skeptic he claims to be, he would have quizzed Stone about the allegations in the Zero Hedge article.

(Comments wont nest below this level)
Comment by azdude
2015-08-15 05:21:32

how come so much focus is put on rising asset prices vs real (support a family on) job creation?

Comment by Ol'Bubba
2015-08-15 05:53:57

How quaint. That is so 1975.

Comment by Professor Bear
2015-08-15 11:44:51

More like 1950s (think “Leave it to Beaver”…).

Comment by phony scandals
2015-08-15 05:24:54

Why do the Betters print trillions of dollars?

Comment by Neuromance
2015-08-15 09:53:07

Because they’re not going to be in ‘public service’ forever. And if they don’t take care of business, business won’t take care of them.


Comment by phony scandals
2015-08-15 15:32:15

Who benefits when the Betters print trillions of dollars?

Comment by Neuromance
2015-08-15 17:40:18

The recipients of the largesse.

The printers buy bonds. They apparently intervene in the stock market, according to The Economist, among others. So there’s a large swath that benefits.

Of course, every policy has benefits and costs.

A significant cost is likely malinvestment, resulting from trying to keep markets indices high and climbing.

But ultimately, it’s the creeping central planning aspect that will have the biggest negative impact it seems to me.

If the markets have become heavily manipulated, subject to legalized cronyism, and it is that system that the printers are trying to protect, instead of trying to fix the markets, that will have consequences.

Japan really is the model. Their population is different, they’re savers and aging with a declining population. But their government has done what our government is doing, and their economy is hardly a model of free and open markets.

They don’t have inflation sparked because the money goes into savings. Inflation isn’t sparked here because of the mountain of debt Americans carry, which reduces money chasing goods and instead goes into debt service.

Congressional regulatory capture makes Congress act in ways that don’t encourage prosperity here. They say that if we don’t like it, we can vote for the opposition, but we’re reaching a point that our entire choice of candidates is heavily controlled to be have identical views on economic and foreign policy.

Low voter turnout, support for “non-traditional” candidates all speak to voter disaffection.

(Comments wont nest below this level)
Comment by phony scandals
2015-08-15 05:28:18

Hillary Clinton Jokes About FBI Investigation At IA Wing Ding Dinner … - 155k - Cached - Similar pages
12 hours ago …

Comment by Ben Jones
2015-08-15 05:47:42

‘Sharon Stone Poses Nude, Admits, ‘My Ass Looks Like a Bag of Flapjacks’

Comment by Ol'Bubba
2015-08-15 05:55:53

What are the odds someone will make a quip using the words “butter” and “maple syrup”?

Comment by azdude
2015-08-15 06:03:54

she is still lookn good.

Who’d u rather, kim k. or sharon stone?

Comment by rms
2015-08-15 08:56:58

“she is still lookn good.”

+1 Waaay better than these ubiquitous 18-yr/old fatties today.

Comment by ComfortableClass
2015-08-15 06:06:16

Even in self deprecation this is still a sign of one if the scourges of our time, blatant rampant narcissism. Look at me naked, look at me, look at me.

Comment by Mafia Blocks
2015-08-15 06:13:48

These washed up, dried out Hollywood skanks need more cash to throw at their depreciating shacks. Otherwise we’d never hear from them again.

Got cash?

Comment by Raymond K Hessel
2015-08-15 07:58:05

It is solely due to my humble nature and lack of narcissism that I don’t post naked pictures of me. Also, I would not want to be morally responsible for millions of ladies being struck helpless with lust at the sight of me. Unrequited longing can drive a girl right over the edge, you know…it’s a pubic safety issue.

Comment by Ol'Bubba
2015-08-15 10:21:43

That’s mighty magnanimous of you, Ray. You should take great pride in your humility.

(Comments wont nest below this level)
Comment by Raymond K Hessel
Comment by Selfish Hoarder
2015-08-15 06:06:28

Was that in 1991 or is that recently? If recently, more likely it is like a bag of flapjacks.

Comment by Ol'Bubba
2015-08-15 06:17:03

Google the phrase “My Ass Looks Like a Bag of Flapjacks”, Bill, then look for the link. She’s very easy on the eyes.

Comment by phony scandals
2015-08-15 06:16:36

If Sharon Stone’s ass looks like a bag of Flapjacks, what the hell does Hillary Clinton’s ass look like?

Never mind, I withdraw the question.

Comment by Ol'Bubba
2015-08-15 07:13:23

I just threw up a little bit in my mouth. Now I need a mint.

Comment by Selfish Hoarder
2015-08-15 07:28:22

“What the hell does Hillary Clinton’s ass look like?”

Ask Janet Reno.

Comment by Raymond K Hessel
2015-08-15 08:13:10

If Hillary gets elected, I can tell you what America’s ass will look like. Bored out as big as the Lincoln Tunnel, only it will see more traffic and won’t charge a toll.

(Comments wont nest below this level)
Comment by rms
2015-08-15 09:01:47


Comment by Professor Bear
2015-08-15 11:46:41

“…and won’t charge a toll.”

I wouldn’t bet on that part.

Comment by The Order Of The Golden Chainsaw
2015-08-15 07:43:25

Bill Clinton said, “I have no idea. Never seen it.”

Comment by ComfortableClass
2015-08-15 09:01:27

I seem to recall a rumor that he had seen Sharon’s (Stone on Ariel).

(Comments wont nest below this level)
Comment by ComfortableClass
2015-08-15 09:02:30

Stone NOT Ariel damn autocorrect.

Comment by phony scandals
2015-08-15 05:48:48


By Jessica Chasmar - The Washington Times - Tuesday, May 19, 2015

Hired protesters with the Black Lives Matter movement have started a #CutTheCheck hashtag and held a sit-in at the offices for the successor group to the Association of Community Organizations for Reform Now (ACORN) in Missouri after the group allegedly stopped paying them.

FrontPage Magazine reports that Missourians Organizing for Reform and Empowerment (MORE) has been paying protesters $5,000 a month to demonstrate in Ferguson. Last week, hired protesters who haven’t been paid held a sit-in at MORE’s offices and posted a demand letter online.…/19/hired-black-lives-matter-protesters-start-cutthech/ - 198k -

Comment by Oddfellow
2015-08-15 07:07:46

“Hired protesters with the Black Lives Matter”

Hired by whom?

“As luck should have it, Muskie was hounded at his Florida hotel room during the primaries there by “angry” black picketers—who were secretly under Nixon’s White House supervision…”

Comment by Oddfellow
2015-08-15 07:20:05

And those black women “protesters” who interrupted Sander’s speech, they were just too perfect. Did any reporter ever follow up on who they really were, who they worked for?

Sanders, the socialist, is drawing bigger crowds than any other candidate, democrip or rebloodlican. He must be stopped. Send in the angry black protesters, oldest trick in Stone’s book.

And our local shepherds will take it from there.

Comment by WPA
2015-08-15 07:47:42

It appears Stone’s trick may not be so effective this time. Sanders’ organization quickly adopted an “institutional racism” plank to his platform and added security at rallies to prevent another occurrence. So far rally attendance and his polling haven’t shown any damage from the Seattle incident.

(Comments wont nest below this level)
Comment by Oddfellow
2015-08-15 08:19:37

“added security at rallies to prevent another occurrence”

No worries, the Seattle footage will be replayed ad nauseam by our local shepherds. Next up, fake donations to Sanders campaign by Commies for Atheism, or somesuch. Discovered and publicized, of course.

Comment by WPA
2015-08-15 08:24:08

You’re right, these are the Clintons after all. There will be tricks.

Comment by TBoom
2015-08-15 10:17:55

Comment by phony scandals
2015-08-15 05:48:48

By Jessica Chasmar - The Washington Times

Comment by Senior Housing Analyst
2015-08-15 06:16:46

Palo Alto, CA Housing Prices Fall 19%

Comment by The Order Of The Golden Chainsaw
2015-08-15 07:41:53

Once the tech bubble pops, watch out.

Comment by ComfortableClass
2015-08-15 06:17:44

We are a rich enough and productive enough country to provide everyone with a guaranteed income of $35000 a year, tax free, no work. We can do this. Whether we want to and where it will lead is a different question.

Many fewer people are needed to work today to produce the goods and services to allow this level of comfort.

And the rich will still be able to keep theirs. This would barely put a dent in their wealth and could probably be done with current levels of taxes. I don’t think anyone really appreciates how massively productive we are now compared to only 30 years ago. Computers have changed so much.

Comment by ComfortableClass
2015-08-15 06:35:16

Looking further ahead to the future, the prospect of a jobless economy certainly seems daunting. But if we can successfully manage it and put our machines to work, we could enter into an unprecedented era of material abundance while dramatically extending our leisure time. Rather than be tied to menial and demeaning work, we’d be free to engage in activities that truly interest us.

Hughes agrees — and he doesn’t believe that BIG will kill motivation.

“It is very recent in human history that we learned to be motivated to work for pay, and were convinced that those who didn’t work for pay should feel shame about it,” he says. “For women that transition only occurred in the last two generations. And there have always been aristocrats who found motivation to get out of bed in seeking prestige or power or simply the intrinsic rewards of the activity, like scientific discovery. It will certainly require at least a generation to transition from a psychological and cultural assumption that self-worth requires work for pay to a society where we find self-worth in voluntary activities. But some of us are already there.”

Comment by Ben Jones
2015-08-15 06:41:27

‘We are a rich enough and productive enough country to provide everyone with a guaranteed income of $35000 a year, tax free, no work.’

I’m still waiting on the paperless office.

Comment by AmazingRuss
2015-08-15 08:38:30

Yours doesnt have the three sea shells yet?

Comment by ComfortableClass
2015-08-15 09:03:55

My flying car does have them.

(Comments wont nest below this level)
Comment by 2banana
2015-08-15 07:07:07

$35,000 x 330 million “citizens” = $11,500 Trillion/year

Federal Budget = $3 Trillion/year

USA GDP = $17 Trillion/year


Comment by ComfortableClass
2015-08-15 09:08:41

11500 trillion?

Comment by Blue Skye
2015-08-15 09:21:17

What’s a few zeros between friends?

(Comments wont nest below this level)
Comment by Oddfellow
2015-08-15 09:32:39

$11.5 trillion to do it, how could we afford our wars? Our Wall Street bailouts?

Comment by 2banana
2015-08-15 11:34:21

“,” should be a “.” in 11.500 number.

Still a FAIL.

Comment by rms
2015-08-15 09:11:40

Many fewer people are needed to work today to produce the goods and services to allow this level of comfort.

A co-worker said a young guy knocked on the door soliciting his lawn mowing service. He glanced at the mower sitting out at the sidewalk and asked, “How much?”

Hmm, well (sizing-up his ability to pay)… how about $40?

Are you serious? Really?? GET THE F**** OFF MY PROPERTY!!

Comment by phony scandals
2015-08-15 13:11:56

“We are a rich enough and productive enough country to provide everyone with a guaranteed income of $35000 a year, tax free, no work. We can do this.”

I wouldn’t try for $70,000

$70,000 minimum salary causing hard times for Seattle CEO

Jerry Newberry, MorningTicker | August 01, 2015

Dan Price, the CEO of Gravity Payments recently made headlines by declaring his company would raise its employees to a minimum salary of $70,000, says the decision has caused him to fall on hard times.

Price, according to a report on Fox News, is renting out his own house in an attempt to make ends meet. This is just three months after the announcement that all 120 employees of the credit card processing firm would receive raises to the minimum.

The move cost him a few of his good customers and two of his “most valued” employees, who left the firm because many new employees received larger pay hikes than older employees.


Comment by redmondjp
2015-08-15 22:37:28

This is in my area and the local media has been covering it heavily.

The law of unintended consequences is a real bee-yatch!

Who wouldda thunk that the person working 80-hour weeks making $70K/year is more than a little bit peeved that the 35-hour per week $20K/year copy machine paper refiller is now making the same as them.

Comment by Senior Housing Analyst
2015-08-15 06:19:23

San Luis Obispo County CA Housing Prices Fall 5% YoY

Comment by Senior Housing Analyst
2015-08-15 06:25:32

Boston Metro Housing Prices Fall 10% YoY

Comment by Senior Housing Analyst
2015-08-15 06:39:16

McClean, VA Housing Prices Fall 11% YoY

Comment by azdude
2015-08-15 07:01:52

buy a shack and get rich!

Comment by Mafia Blocks
2015-08-15 07:09:57

Smoke some crack and lose less than financing a depreciating shack.

Comment by azdude
2015-08-15 07:50:35

Depreciation is just part of being a homeonwer. Homeowners love showing pride of ownership by working on their homes. U feel part of something bigger.

(Comments wont nest below this level)
Comment by 2banana
2015-08-15 06:54:37

And then blacks will riot because cops won’t come to their aid and blame racism…


Pistol-whipped cop says he didn’t fight back for fear of public backlash if he hurt black man
BIPAC Review | 08/14/15 | Nicole Haas

President of the Fraternal Order of Police spoke for the detective whose picture went viral after he was pistol whipped to the ground by a violent criminal and explained why the cop didn’t fight back.

“Local law enforcement officers are walking on egg shells because they’re so hesitant of how to interact because of what’s taking place in the media,” police Sgt. Heath Boackle told the NY Daily News.

“The officer was just trying to diffuse the situation,” Boackle, told the Daily News. “Mr. Cunningham sucker-punched the officer, immediately knocking him to the ground and gained control of his weapon and beat him until he was unconscious.”

Comment by aNYCdj
2015-08-15 14:03:23

and you call me a racist for point out this explosion in black mob violence.

Comment by 2banana
2015-08-15 06:58:07

Only bigger and bigger government can give us…

Affordable housing
Affordable medical care


Affordable higher education…


Why College Tuition is Out of Sight: The Federal Government | August 15, 2015 | John C. Goodman

Our health care system and our system of higher education have a lot more in common than you might think. As I explained in a previous column at Forbes, in both systems a third-party payer pays a good portion of the bill, leaving consumers and producers with perverse incentives to take advantage of it. The financing of both systems is dysfunctional. There is much waste and inefficiency. And low-income families are the least well served.

The same thing appears to have happened in education. According to economist Richard Vedder, the explosion in college costs began about the same time as the cost explosion in health care ? with the Higher Education Act of 1965.

The New York Fed study found that for every new dollar a college receives in Direct Subsidized Loans, a school raises its price by 65 cents. For every dollar in Pell Grants, a college raises tuition by 55 cents. This is one reason tuition has outpaced inflation every year for decades, while the average borrower now finishes college owing more than $28,000.

The United States shares two dubious distinctions. It has the most expensive higher education in the world: $26,000 a year, on average. And the college graduation rates of America’s young are growing at nearly the slowest pace in the industrial world, the third from the bottom among 30 nations tracked by the O.E.C.D.

In addition, middle income families who try to save for their children’s college expenses have a rude surprise. When the income tax law is combined with the typical rules for college aid, these families face a marginal tax rate in excess of 100 percent! That is, when they save an additional dollar they lose more than a dollar in higher taxes and reduced financial aid.

Meanwhile, colleges and universities are doing just what hospitals do to capture more federal dollars. They are competing on amenities. Water parks, climbing walls, elaborate dorms and dining facilities – these are all part of the modern college experience – which is increasingly a social and recreational experience rather than an academic one.

Comment by The Order Of The Golden Chainsaw
2015-08-15 07:11:44

It adds to GDP. What’s wrong with it?

Comment by WPA
2015-08-15 07:40:38

“Correlation is not causation.”

Comment by ComfortableClass
2015-08-15 09:11:10

But correlation is also not not causation.

Comment by Raymond K Hessel
Comment by Professor Bear
2015-08-15 09:35:52

I don’t have a great sense of what those metrics indicate. However at a glance it seems like 2015 is playing out similarly to 1987, when the Black Monday crash in October was preceded by an all-year slow motion meltdown of the junk bond market.

Comment by Professor Bear
2015-08-15 11:52:17

High Bond Yields Foreshadow Stock Market Crash
By Gaurav S. Iyer, IFC • Friday, August 14, 2015

The borrowing costs for low-rated companies are rising rapidly, suggesting that equities are due for a huge correction. David Rosenberg, chief economist at Gluskin Sheff, argues that when bondholders start demanding higher returns, the offending company will soon see its share price fall. When it happens to companies en masse, the implication is a stock market crash that could echo into a full-blown economic collapse.

Basically, higher premiums equal lower creditworthiness. Average yields on low-quality companies have risen to 7.3%, but interest on U.S. Treasuries has stayed level. T-bills are considered risk-free investments, thus they reflect the minimum cost of borrowing.

It’s the basic amount that people want in order to part with their money, which provides a baseline for measuring how investors feel about other securities. (Source: CNBC, August 14, 2015.)

The difference between yields on any debt investment and the yield on Treasuries is known as the “spread.” Rosenberg argues that spreads are drastically increasing for junk bonds, reflecting a pessimistic outlook on the future of those debtors.

This move in high-yield spreads is on par with what we have seen when we have previously had a 9 percent correction in equities,” said Rosenberg. “Yet the stock market is off just over 2 percent (during the most recent selloff) so either the S&P 500 has more downside from here or spreads are going to have to adjust by tightening back in.

Comment by Professor Bear
2015-08-15 11:54:28

Beware the Death Cross (LOLZ!)…

Comment by Professor Bear
2015-08-15 11:55:28

Will the Rout in Junk Bonds and Commodities Crush Stocks, Too?
By Anthony Mirhaydari
July 27, 2015

What’s This?

The Dow dropped into negative territory for the year last week, down more than 500 points from the high set on Monday. The index is back below its 200-day moving average, a key measure of technical strength.

With the relief over the Greek debt deal two weeks ago fully faded — replaced by a nervous acknowledgement a resolution for Athens hasn’t been achieved but only further delayed — investors have grown preoccupied with the flow of disappointing Q2 earnings results from some of the largest and best known publicly traded companies, though there have been some blowouts mixed in.

Also weighing on sentiment has been the ongoing rout in industrial commodities and high-yield or “junk” bonds.

West Texas Intermediate crude oil is back down to $48.11 as the impact of growing inventories and the Iranian nuclear deal keep reverberating. Shale companies are being forced into cash conservation mode, with Chesapeake Energy (CHK) recently suspending its dividend. The JP Morgan Alerian exchange traded note (AMJ), a dividend-focused fund tracking the performance of energy-sector master limited partnerships, sits at the nexus of the energy price/high-yield bond price declines and is down nearly a third from its high last summer.

(Comments wont nest below this level)
Comment by Professor Bear
2015-08-15 12:09:57

Dow’s ‘Death Cross’ Pattern ‘Ominous’
By Michael Carr | Friday, 14 Aug 2015 08:29 AM

The Dow Jones Industrial Average completed a rare and ominous sounding “Death Cross” chart pattern this week. It’s possible to test what happened in the past after this pattern formed. That will give us data to see whether or not we should pay attention to the Death Cross.

A Death Cross occurs when the 50-day moving average (MA) falls below the 200-day MA. Technical analysts use an MA to determine the direction of the price trend. An MA is a simple average of the last 50 or 200 days’ closing prices. If the price is above the MA, it’s higher than average and in an up trend. A down trend means prices are below average.

(Comments wont nest below this level)
Comment by WPA
2015-08-15 08:02:59

Krugman and WaPo make fun of Rand Paul’s latest Tweet, where Rand said:

“The last time the United States was debt free was 1835. That’s ridiculous. We shouldn’t spend more than we take in.”

To which Krugman replies, “Clearly, disaster looms, and has been looming for 180 years.” Not only that, during all those years of carrying debt the U.S. underwent the most prosperous expansion of any nation on earth, undermining Rand’s point. The WaPo article goes on and makes the case that we can’t have economic success without debt. Interesting.

Comment by AmazingRuss
2015-08-15 08:39:52

It’s almost as if Darth Cheney was correct “Deficit’s don’t matter.”

Comment by Raymond K Hessel
2015-08-15 15:29:24

Not when you’re implementing the Likud Party’s “Clean Break for the Realm.” (Google it).

Comment by Oddfellow
2015-08-15 09:37:07

If we run a debt but keep up payments on it, that helps our credit score, right?

Comment by WPA
2015-08-15 09:52:13

Sure. Our credit rating is very high, thus the high international demand for bonds, keeping rates low. It’s interesting, for many years the gold bugs have been screaming “Money printing! Inflation and high inflation are coming!” but the opposite occurred. QE and ZIRP created a savings glut among the 1% who in turn plow that extra cash into bonds and money markets, driving yields very low. The only place where there has been a great deal of inflation has been in real estate.

Comment by Oddfellow
2015-08-15 10:02:36

“QE and ZIRP created a savings glut among the 1%”

Don’t forget the stolen worker productivity gains.

(Comments wont nest below this level)
Comment by AmazingRuss
2015-08-15 10:03:29

Our credit is backed by the largest nuclear arsenal in the world.

(Comments wont nest below this level)
Comment by Selfish Hoarder
2015-08-15 11:18:59

I remember reading about Hank Paulson in Bloomberg magazine. A Gubment Sux associate, Paulson was said to have $500 million in treasuries. I’m thinking that is mixed maturities. This was sometime in 2007 or 2008. Just one half of 1% annual interest would be $2.5 million annual income. And with that you could live in any state of the United States because none of it is state taxable. New York or California.

It’s all paper and assumes years and years of tax revenue. But suppose tax revenue drops significantly from the general population? It would cause a big sell off in bonds and rates would go up. It could be a viscious cycle.

(Comments wont nest below this level)
Comment by Raymond K Hessel
2015-08-15 08:06:50

Secretary of State John Kerry, in a televised address to the Cuban people, calls for “true democracy.” Hmm. Does he mean letting a .1% Oligopoly hand-pick and bankroll the candidates for Wall Street’s Republicrat puppet show, as under our system, or an actual true democracy? I’m confused….

Comment by Raymond K Hessel
2015-08-15 08:23:20
Comment by Raymond K Hessel
2015-08-15 08:38:56

The zombie apocalypse is already here.

Comment by Selfish Hoarder
2015-08-15 11:26:03

I thought the same in 1979.

I never want to move out of the big city to the boondocks. Doomsday was canceled in 1979. The ones who stayed in the large cities prospered. And it’s the same today. Better jobs, better medicine, better medical facilities.

I lived out in Ridgecrest in the 80s and early 90s. I remember being told that if the big quake hits L.A. Ridgecrest and other high desert communities would be doomed because they would be low on the priority of rescue / recovery. And there are quakes in the high desert.

I betcha 95% of the regulars on HBB do not have any survival skills. I know I don’t. I don’t have any bartering skills either. I’m only skilled in high tech.

I’m not sure which is more likely: A zombie apocalypse or a 20 mile wide meteor striking the earth.

Comment by Raymond K Hessel
2015-08-15 08:41:33

This is going to make it harder to slip through the fence.

Comment by Raymond K Hessel
2015-08-15 08:49:43

This is why “our” oligarchs love their open borders and ensure their Republicrat political puppets do to.

Comment by phony scandals
2015-08-15 08:52:51

NOAA: USA July Temps Below Normal For 3rd Year in a Row

According to the NOAA , Maximum temperatures in the USA were -0.77F colder than the 1901-2000 average.

By: Marc Morano -
August 12, 2015

Read more:

Comment by WPA
2015-08-15 09:22:33

I’ll see your -0.77 and raise you a degree

July 2015 warmest global temps on record…

Comment by Oddfellow
2015-08-15 10:03:50

Peoria ain’t the world?

Comment by Professor Bear
2015-08-15 09:13:39

Just when oil should have been starting it’s climb back up to $80/bbl by December 2015, Uncle Sam drove another nail into the oil price bubble by lifting the longstanding U.S. export ban, creating a major incentive for domestic producers to increase production in order to capture the higher world market price.

Who knows how far down from here the bottom is now?

Comment by Professor Bear
2015-08-15 15:24:03

I guess the ban is still there for the most part. Seems like it would be good for U.S. producers to eliminate it entirely, at least so long as they have an opportunity to sell for a higher price on the world market compared to the domestic market. Why not level the playing field for U.S. producers, given the recession that has already hit the industry?

U.S. Commodities
U.S. Loosens Longtime Ban on Oil Exports
Companies will be freed to swap light, sweet crude for heavy Mexican crude
Oil companies and their allies in Congress have been pushing the Obama administration to relax restrictions on U.S. oil trade with Mexico.
Photo: Associated Press
By Christian Berthelsen, Lynn Cook and Laurence Iliff
Updated Aug. 14, 2015 6:44 p.m. ET

Energy companies eager to export American crude oil scored a victory Friday when Washington agreed to allow them to trade oil with Mexico, in a further erosion of the four-decade ban on selling U.S. crude overseas.

The U.S. Commerce Department told members of Congress it intends to approve an application by the national oil company of Mexico to exchange heavy oil pumped there for light crude pumped in the U.S., according to people familiar with the matter.

The deal, which will give American drillers a new market for their product, is a significant step toward lifting the export ban that dates to the Arab oil embargo of the 1970s, when the U.S. suffered though gasoline shortages. Since then, the U.S. has allowed few overseas shipments of oil, with a current exemption for Canadian refineries, which send a lot of gas and diesel back to the U.S.

The laws barring overseas sales have come under pressure in the past year as American drillers pumped surging amounts of crude from shale formations, helping to create a global glut that has brought down oil prices by half in the last 14 months. Congress is slated to take up the matter later this year, and several top lawmakers back unfettered domestic oil exports.

U.S.-traded oil closed at just over $42 a barrel Friday, down from over $100 barrel in June 2014. Global oil prices remain more than $6 above the price of U.S. crude, and that difference has been as high as $20.

The swap deal with Mexico doesn’t need congressional approval. Such oil trades—which aren’t considered true exports because the U.S. is getting oil in return—were contemplated under the original ban legislation, but haven’t taken place before.

The deal illustrates how Washington is trying to catch up to a dramatic new energy abundance in the U.S., said Daniel Yergin, vice chairman of IHS Inc., an energy consultancy. “It’s pretty clear, directionally, where things are headed,” he said. “This ban becomes more and more awkward and ill-fitting. It doesn’t fit reality.”

Comment by Professor Bear
2015-08-15 11:32:31

Here’s an idea for avoiding NSA invasion into the privacy of your personal correspondence…though I don’t quite get how it avoids the traditional spying tactic of opening and reading handwritten letters.

US & Canada
Carter says he hand-writes letters to avoid US surveillance

24 March 2014
From the section US & Canada
Jimmy Carter served as president of the United States from 1977 to 1981

Former US President Jimmy Carter has said he hand-writes letters to foreign and US leaders in an effort to evade what he described as pervasive US electronic surveillance.

Mr Carter, 89, told the Associated Press he had “no doubt” the US monitored and recorded “almost every telephone call” and email.

His humanitarian efforts bring him in contact with a range of foreign and US political leaders.

He left the White House in 1981.


“I don’t think there’s any doubt now that the NSA or other agencies monitor or record almost every telephone call made in the United States, including cell phones, and I presume email as well,” Mr Carter told the Associated Press news agency in an interview.

“I feel that my telephone calls and my email are being monitored, and there are some things I just don’t want anybody to know,” he added, describing modern surveillance as a violation of Americans’ basic civil rights.

Mr Carter said he began writing letters in long hand two to three years ago, before former ex-National Security Agency contractor Edward Snowden leaked a cache of documents disclosing the agency’s extensive electronic surveillance practices.

Comment by phony scandals
2015-08-15 11:40:14 Hillary For Prison 2016 Car Bumper Sticker Anti … - 259k -

Comment by Raymond K Hessel
2015-08-15 15:31:50
Comment by Professor Bear
2015-08-15 11:57:26

Is it safe to assume the Chinese stock market swoon is over at this point?

Comment by Professor Bear
2015-08-15 12:01:36

China Stock Futures Signal Deeper Pessimism

The Shanghai Composite has remained relatively flat since the yuan began sliding, but futures tell a more negative story
By Chao Deng
Updated Aug. 14, 2015 9:10 p.m. ET

HONG KONG—As global financial markets try to gauge the impact of a weaker yuan, China’s stock-index futures are signaling that investors are more pessimistic than current Shanghai share prices suggest.

Textbook financial theory says a currency devaluation such as the one China’s central bank engineered this week should support stocks by making them cheaper for foreign investors and lifting business prospects for local exporters. The Shanghai Composite Index has remained relatively flat since the yuan began sliding Tuesday. Stock stability in China should please regulators after their summertime battle to prop up shares.

Yet, the level of futures that trade based on Chinese share indexes tell a more negative story about investor expectations for Chinese stocks. CSI 300 Index Futures, which track an index of the 300 largest companies listed on the Shanghai and Shenzhen stock exchanges, continue to point lower.

On Thursday, the CSI 300 futures contract that trades on the China Financial Futures Exchange in Shanghai and is due to expire on Aug. 21 traded at a 1.5% discount to the actual index, while the contract due to expire in late September stood at a nearly 3% discount. A discount is a strong indicator that investors are bearish, traders say.

Comment by Professor Bear
2015-08-15 12:05:26

August 13, 2015
China’s Long Minsky Moment
By John Cassidy
Beijing’s devaluation of its currency could be a sign that the economy is approaching the point when euphoria is replaced by pessimism and downturn begins.
Credit Photograph by ChinaFotoPress / Getty

In the wake of Beijing’s decision to devalue its currency this week, the scuttlebutt that has been circulating in western financial circles for months has made the front of the Times: an article by Neil Gough, datelined Hong Kong, relayed concerns that the Chinese economy probably isn’t growing at the official annual rate of seven per cent, and that, in fact, the official figures are so unreliable that it’s impossible for outsiders to figure out what’s really happening.

That’s what Bill Miller, the renowned investor, and other Wall Street skeptics have been saying for months, and I suspect they are right. Is it really plausible that in the first and second quarters of this year the Chinese economy expanded at an annualized rate of precisely seven per cent, which just happens to be the official target for growth in what President Xi Jinping has called the “new normal” era?

In 2010 alone, the amount of debt taken out by Chinese businesses and households jumped by about thirty-five per cent of G.D.P.

These figures, which I took from a paper published earlier this year by Steve Keen, an Australian-born economist who monitors debt closely, suggest that what we are observing in China is the unusually elongated aftermath of a “Minsky moment”—that dreaded moment, named after the late post-Keynesian economist, when euphoria is replaced by pessimism, asset prices start to plummet, lenders discover that their creditors can’t replay their loans, and an economic downturn begins. Or, as Deng Xioping might have put it, we have a Minsky moment with Chinese characteristics.

Comment by Professor Bear
2015-08-15 12:07:27

Forget Greece: China’s economic slowdown is the biggest story of the year
There’s hardly an industry or a part of the world that isn’t counting on China to keep growing strongly. Soon, that could be a big problem
Elliot Wilson
15 August 2015

I stood alongside the chairman of the board of a state-owned enterprise in eastern China. The factory floor, partially open to the elements, stretched out far in front of us, littered with towers and blades designed for some of the world’s largest wind turbines. It was an impressive sight, one to which regular visitors to mainland factories are accustomed: China as the workshop of the world.

But something was missing: workers. ‘They’ve been given the day off,’ the chairman said with a slight cough, as we stared out over the vast compound. On a Wednesday? It was hot but not searing, and workers get the day off only once the mercury tops 40°C. ‘It’s a local holiday,’ he said. But there are no such things in the People’s Republic, and national holidays only occur in May, October and around Chinese New Year.

I didn’t push it, but a later conversation with the firm’s senior engineer, a stocky chap in blue overalls clutching a pipe wrench, revealed the real problem. His cheery demeanour vanished when we started discussing the future. The factory, he admitted, hadn’t run at close to full capacity for a year. Experienced workers had been put on unpaid leave; migrant labourers from the countryside — lacking a local work permit, or hukou — had been told to hop it.

The company’s woes are a microcosm of the daunting challenges that face China’s stuttering economy, the world’s second largest after the United States.

Comment by Raymond K Hessel
2015-08-15 16:01:10

Dude - maybe try posting 2-3 paragraphs, no more than four, with a link, per Ben’s repeated admonitions.

Comment by Professor Bear
2015-08-15 21:12:33

So far as I know, Ben’s admonitions are not aimed at me, but rather at those who post full articles. I am posting parts of articles which are freely available on the Internet, usually with a link and always with an attribution.

(Comments wont nest below this level)
Comment by AmazingRuss
2015-08-15 14:13:53

I think they’ve shot enough sellers that market sentiment is brutally bouyant.

Comment by rj chicago
2015-08-15 12:29:37

I heard this on the radio this morning WXRT Flashback here in Chicago and it just said - yep that about sums it all up in the time in which we live.
Alvin Lee - may your soul be at rest!!
Lyrics to I’d Love to Change the World…..

Everywhere is freaks and hairies
Dykes and fairies, tell me where is sanity
Tax the rich, feed the poor
Till there are no rich no more?

I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you

Population keeps on breeding
Nation bleeding, still more feeding economy
Life is funny, skies are sunny
Bees make honey, who needs money, Monopoly

I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you

World pollution, there’s no solution
Institution, electrocution
Just black and white, rich or poor
Them and us, stop the war

I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you
Songwriters: ALVIN LEE
I’d Love To Change The World lyrics © BMG RIGHTS MANAGEMENT US, LLC

Comment by Raymond K Hessel
2015-08-15 15:36:55

Been around the world and found that only stupid people are breeding
The cretins cloning and feeding
And I don’t even own a TV….

Harvey Danger, Flagpole Sitta

Comment by phony scandals
2015-08-15 16:18:59

Mrs. scandals asked me about going to the Pancake House for breakfast tomorrow morning, but after that whole Sharon Stone’s ass looks like a bag of Flapjacks then does Hillary Clinton’s ass look like thing I told her I would drive through McDonalds and pick us up some Egg McMuffins.

Comment by phony scandals
2015-08-15 16:30:40

And so it was that later
As old phony told his tale
That her face at first just ghostly
Turned a whiter shade of pale. - 373k -

Comment by AmazingRuss
2015-08-15 18:07:31

Muffins you say? Aren’t we exchanging one metaphoric horror for another?

Comment by phony scandals
2015-08-15 16:24:26

NSA Spying Relies on AT&T’s ‘Extreme Willingness to Help’

by | August 15, 2015

THE NATIONAL SECURITY AGENCY’S ability to spy on vast quantities of Internet traffic passing through the United States has relied on its extraordinary, decades-long partnership with a single company: the telecom giant AT&T.

While it has been long known that American telecommunications companies worked closely with the spy agency, newly disclosed NSA documents show that the relationship with AT&T has been considered unique and especially productive. One document described it as “highly collaborative,” while another lauded the company’s “extreme willingness to help.” - 53k -

Comment by Clubber Lang
2015-08-15 17:15:00

Can we please get rid of these religious progressive political zealots running this country? Is that too much to ask?

Clubber’s Metal Videos of the week.

Huntress - Zenith

Kreator - Phobia


Comment by azdude
2015-08-15 17:55:58

are we due for a deflationary spiral that no one saw coming?

Comment by Professor Bear
2015-08-15 21:15:57

Deflation is something the Fed religiously avoids. Believing that deflation is on the way is tantamount to a belief that the Fed cannot prevent it.

Comment by phony scandals
2015-08-16 07:18:46

phony scandals

Name (required)
E-mail (required - never shown publicly)
Your Comment (smaller size | larger size)
You may use <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> in your comment.

Trackback responses to this post