Bits Bucket for August 20, 2015
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Name:Ben Jones
Location:Northern Arizona, United States
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Is there going to be urban riots every time a thug is shot?
http://www.independent.co.uk/news/world/americas/mansur-ballbey-shooting-protests-in-st-louis-as-missouri-police-kill-another-black-teen-10463151.html
Well, heck, ya beat me too it, twice! But the more people know about JEB! and Lehman, the better.
LOL, that’s what I get for posting without having had my first cuppa.
More cawfeee!
Apologies, Ray, I meant to post under the JEB!-Lehman link below.
What do you mean by “Urban”. Sophisticated, swanky, uptown, tuxedos, Frank Sinatra, etc.?
“Sophisticated, swanky, uptown, tuxedos, Frank Sinatra, etc.?”
That would be “urbane”, with an E on the end.
“Sophisticated, swanky, uptown, tuxedos”,
I am very close to this one except you need to add good looking.
Whites need to learn how to riot.
No one listens to you unless you riot and loot.
And yes - the thugs in this crime are black.
—————–
Father shot in both legs during home invasion
wsbradio | 8/20/2015 | crime stoppers atlanta
ATLANTA — A family is recovering after a violent home invasion. The father has a metal rod in his leg and is expected to be OK.
Whitney Lash says a group of teens burst through the front door of her Sumter Street home in northwest Atlanta Sunday.
She made a terrifying 911 call made just moments after the home invasion.
“There’s a black young man at the front door. He just pulled a gun on my husband.”
The group, who tried to rob the family, shot Mike Lash in the leg and then fired at Whitney Lash as she ran with her baby in her arms.
“Whites need to learn how to riot.”
Apparently, some have:
http://www.nydailynews.com/news/national/black-lives-matter-activist-shaun-king-white-article-1.2330658
He white. You can’t make this stuff up.
Which is more proof that this is NOT about white vs black or white vs whatever. It’s two groups of whites, one of which uses people of color against the other.
Perfect example of a Social Justice Warrior™
A liar, a fraud, and a hypocrite
LOL, speaking of SJWs, Pope Francis got a little blowback from Trump.
I wouldn’t have gone the ISIS route myself, though. I would have informed him about the separation of church and state that the US supposedly abides by and that he should shut his piehole if he wants the Catholic Church to retain its tax exempt status in the US, not to mention the billions in taxpayer money that goes to Catholic Charities for the purpose of screwing over the citizens who so generously and ignorantly provide it.
Some of these places are like another planet. Why do people live there among the thugs? Move to cheap Las Vegas, get a job at a hotel parking cars.
Califoh: It sounds like you’re blaming the victim. One could just as easily say that the thugs themselves are the ones who should move to Las Vegas and get a job parking cars.
Good luck with that… I’d go to my happy place, let the thugs have it.
A family is recovering after a violent home invasion.
it’s not nice to call it ‘home invasion’. the new politically correct term is ‘illegal home immigration’.
Where’s this? Florida?
undocumented home immigration
“Is there going to be urban riots every time a thug is shot?”
Probably. Our choice is either to greatly increase the militarization of the police, or to end “broken windows” policing, which assumes everyone is a thug and has the cops act as an occupying force, while using disproportionate force in any altercation.
Community policing or a militarized police state, which will we choose? We know which way the race baiters are pushing us (since they really work for the Statists, knowingly or unknowingly, defending and cheering their heavy-handed use of force).
They assume that, because they are white, they won’t be affected by living in a police state. Just like the Germans who weren’t Jews.
Why are you posting an article from the UK? This from the local real journalists:
http://m.stltoday.com/news/local/crime-and-courts/fires-tear-gas-arrests-after-st-louis-police-fatally-shoot/article_9eae9155-9f8e-5296-b836-45326918fda3.html?mobile_touch=true
UK media reports information our MSM consigns to the memory hole.
Crony capitalism is a lucrative business. Just ask HillaryJeb.
http://libertyblitzkrieg.com/2015/08/19/how-jeb-bush-funneled-pension-money-to-lehman-before-getting-a-1-3-million-a-year-consulting-job-at-the-firm/
I prefer the term ‘Jebillary’.
Not a surprise, but Jebillary lead in donations from K Street lobbyists:
http://thehill.com/business-a-lobbying/251456-k-street-betting-on-hillary
How many millions of taxpayer dollars have been spent investigating or prosecuting the various Clinton scandals and law-breaking? How many trillions will Bill Clinton’s repeal of Glass-Steagal end up costing taxpayers (while enriching the Goldmanites who formed his economic team). Why do so many amoral idiots continue to enable this kind of criminality and crony capitalism to continue by voting for the likes of HillaryJeb?
http://america.aljazeera.com/articles/2015/8/19/fbi-treating-clinton-emails-as-a-potential-criminal-investigation.html
Signed NAFTA, signed repeal of Glass-Steagall. But hey, elect my wife now because she is not a republican.
More dominoes starting to tumble.
http://www.businessinsider.com/kazakh-tenge-currency-devaluation-2015-8
What happens when public unions, who voted en bloc for corrupt Democrats because they thought a gold-plated pension would be their reward, find out they’ve been bilked by the Wall Street-Federal Reserve Looting Syndicate?
http://www.theburningplatform.com/2015/08/19/thin-blue-line-between-bankers-people/
RE taxes going up as RE prices going down
why? gov unions get paid no matter what markets do
2banana’s rule
Long term democrat rule + public union goons + huge free sh*t army = misery, bankruptcy and ruin
This rule has never been wrong.
Note to 2banana: California, a blue state, has the #1 GDP in the U.S. Meanwhile, Kansas bought into the Trickle Down Tooth Fairy “March to Zero Taxes” and will soon be challenging Mississippi for bottom ranking.
California is lower than Mississippi.
BTW, it looks like Mr New Car Smell has set the Iron Maiden up for a fall. Oh you want to use your own servers? Fine, go right ahead.
California is lower than Mississippi.
How so? Gulfport MS is farther south than San Diego.
BTW, it looks like Mr New Car Smell has set the Iron Maiden up for a fall. Oh you want to use your own servers? Fine, go right ahead.
Now there’s an interesting conspiracy theory. The well-documeted lack of love and awkwardness between the Clintons and the Obamas make it plausible.
Lola, Lola, Lola……….
CA has the highest GDP but not per capita GDP. Per capita is more important. Even for the wealthiest states (highest per capita GDP) like NJ/MD/CT/MA, you have tons of poverty. Think Camden, west Baltimore, Bridgeport, and southie.
U.S. Census Bureau: “California Is The Poorest State In America”
http://www.laweekly.com/news/california-is-americas-poorest-state-4177082
CA has the highest GDP but not per capita GDP. Per capita is more important.
GDP per capita is so 1965. Doncha know that with robotics and automation human labor is rapidly becoming obsolete? GDP measures each state’s ability to attract or retain productive businesses. The quantity of poor people living in the same geographical area isn’t tightly associated with business activity like it used to be, when you had 20,000 guys reporting to the factory with lunch pails.
U.S. Census Bureau: “California Is The Poorest State In America”
Proof that when wanna-be STEM students flunk out, they become journalists. California is the one of the richest states in the country, but has the largest number of poor people. That’s not the same as “poorest.”
Oh you want to use your own servers? Fine, go right ahead.
I’ve been wondering about this too, Ben. Whether or not a few emails were classified before or after is missing the point. I want to know what allowed this to be set up in the first place. One would think that ALL of emails from the SoS are potentially classified — you know, stuff like “Hey Hill (cc Leon), Seal Team 6 onshore pointed east; will conduct ops 0300 local. Thanks for the excel org skillz. — Barri.”
Intuitively one would think that these email servers were stored in a bunker at Andrews or Norad or some secure spot. Then I thought that Clinton had simply refurbished an old server at some former offices in NY or whatever, which is bad enough. But now I hear it was in some former bathroom/closet in a private loft in Denver. WTF? Which regulations allow for contracting out email servers off-site? Who awarded the contract to this mom-and-pop outfit? Did they award it to fill quota for small woman/veteran(?) -owned business? This just doesn’t seem like an area where normal contracting processes should apply.
(unless they were going the Purloined Letter route?) :confused:
“BTW, it looks like Mr New Car Smell has set the Iron Maiden up for a fall. Oh you want to use your own servers? Fine, go right ahead.”
And her tap dancing around the questions is making it worse.
If she seemed untrustworthy before, she seems really untrustworthy now.
She’s going down. Joltin’ Joe is warming up in the bullpen.
I’ve said this before, no way was Obama and Valerie going to let Hillary get the nom. They’re like a cat playing with a mouse, sort of batting it around a little before pouncing.
Love the CA vs KA analogy.
2Banana still believes in the Reagan Myth.
http://thinkprogress.org/politics/2011/02/05/142288/reagan-centennial/
Californica….. home the largest number of the poorest people in the country.
That’s not the same as “poorest.”
Being poor isn’t about the lack of money.
I’ll ask my tennis group tomorrow if any of them are poor or if their neighbors are.
Big difference between Modesto and Malibu.
‘Will she be indicted?’
‘Consider this. In the past month, the Department of Justice indicted a young sailor who took a selfie in front of a sonar screen on a nuclear submarine and emailed the selfie to his girlfriend. It also indicted a Marine who sent an urgent warning to his superiors on his Gmail account about a dangerous Afghani spy who eventually killed three fellow Marines inside an American encampment. The emailing Marine was indicted for failure to secure classified materials. Gen. David Petraeus stored top-secret materials in an unlocked desk drawer in the study of his secured and guarded Virginia home and was indicted for the same crimes. And a former CIA agent was just sentenced to three years in prison for destroying one top-secret email.’
‘What will happen if the FBI recommends that Clinton be indicted and the White House stonewalls? Will FBI Director Jim Comey threaten to resign as he threatened to do when President George W. Bush wanted him to deviate from accepted professional standards? Will Clinton get a pass? Will the public accept that?’
http://original.antiwar.com/andrew-p-napolitano/2015/08/19/the-deceptions-of-hillary-clinton/
Public unions are a moral evil, as is the current tax code.
even FDR warned about gov unions
see Chighetto ,Greece and EU for results
Looks like the Oligopoly will be helping Obama cash in on his “public service” once he leaves office.
http://www.marketwatch.com/story/steven-spielberg-is-helping-obama-develop-a-post-white-house-narrative-2015-08-17?mod=MW_story_recommended_default&Link=obnetwork
Heh, I read somewhere that he’s angling to become Secretary General of the UN.
I said that, years ago
Russian ruble sinking like a stone. This is starting to look like the 1998 “East Asia” crisis all over again that culminated in LTCM imploding.
http://www.marketwatch.com/investing/Currency/USDRUB?countrycode=US
Another crisis brewing…as if the world doesn’t have enough already.
http://www.rt.com/news/312902-south-korea-shells-north/
Either we have the stupidest electorate on the planet (the 95% vote totals for Obama, McCain, and Romney tend to confirm that) or the goof vote for “Deez Nuts” is actually a protest vote for None of the Above.
http://www.independent.co.uk/news/world/americas/deez-nuts-for-president-candidate-named-after-dr-dre-track-becomes-toppolling-independent-10463293.html
Is that like the “Truck Nutz” I have hanging my my hitch?
The none-of-the-above vote is actually Donald Trump.
The epitome of crony capitalism, yet 95% of ‘Muricans bend over and vote for more of the same every election.
http://www.ibtimes.com/election-2016-jeb-bush-got-13m-job-lehman-after-florida-shifted-pension-cash-bank-2059224
JEB!’s involvement with Lehman:
http://www.zerohedge.com/news/2015-08-19/lehmans-gift-jeb-bush-funneling-pension-money-13-million-consulting-job
The comments are vicious, just vicious.
Jeb is toast - with butter and marmalade…
Clearly, he doesn’t think so. I really don’t get why these losers hang on the way they do. Not only is he delusional, but apparently so are his donors, whoever they are.
After Trump’s health takes a turn for the worse and he has to drop out of the race, Jeb will have a meteoric and miraculous rise in the polls.
Why will Trump’s health take a turn for the worse? Strycnine (sp?) poisoning?
Jebbie say, Trump not conservative enough to win. Palmy say, the word is “CUCKservative”, Jebbie. Cuckoo birds don’t bother to build nests, they lay their eggs in the nests of other bird species, and let those birds care for the eggs.
http://www.marketwatch.com/story/bush-says-trump-isnt-conservative-enough-to-win-republican-race-2015-08-20
BTW, what a ruckus about the “birthright” citizenship scam. People are gnawing the rug, tearing their clothes, beating their chests and pulling out their hair.
Trump is righter than right on this issue. They can go home with their parents, where they belong, and be proud citizens of their homelands.
I read a good summary of the legal argument against birth right citizenship. If I find the link, I’ll post. It is a legit argument. Repealing the anchor baby rule would do wonders addressing the illegal problem.
I keep hearing more and more people say things like ‘ I never thought I’d say this but Trump is very appealing’, etc.
Heh, start sending all those families back and I guarantee you Mexico will build the wall for us, lol.
Saw that interview… And as much as I despise him, I gotta say he was spot on.
Here it is:
http://www.nationalreview.com/birthright-citizenship-not-mandated-by-constitution
I gave it a quick read, sounds like an argument can be made that the drafters had no intention to allow anchor babies.
There is a bill in Congress which would remove the birthright citizenship. It has been bouncing around since the 90’s apparently. Of course it has little chance of passing, but this argument isn’t something Trump pulled out of thin air.
I believe it is the 14th amendment (one of the civil war amendments) that makes ‘citizenship birthright’ illegal. American Indians not US citizens under that amendment.
Totally illegal. Which, by the way, ends the bogus boo-hoo argument about “tearing families apart”. The kids go with, end of story.
Funny how these people had no problem dragging their families with them when they came here. Why is is so hard to take their families back with them?
The answer, of course, is obvious: Mexico doesn’t have SNAP or Section 8 vouchers and they can earn more here (under the table) than most college grads do back home.
At my local King Soopers and Walmart I often see families with young children, all speaking in Spanish, and both the mom and the dad have neck tattoos
My progressive betters assure that every one of them will grow up to be doctors or astronauts
and both the mom and the dad have neck tattoos
in that case, they are very Americanized, as tattoos are not considered cool back home (unless you’re in a gang)
“My progressive betters assure that every one of them will grow up to be doctors or astronauts”
And they’ll fund your pension liabilities.
If the GOP wants to focus on “Birthright” as their signature issue they will ride it to a flaming defeat, following the same downward trajectory that Romney and McCain blazed.
Out of all of the serious issues in this country — you know, small issues like climate change, crappy wages, crushing student debt, shrinking middle class, unaffordable housing, crumbling infrastructure — the GOP chooses to fixate on Brown Babies. Yup, if we can just load all of the Brown People onto buses and send them home, all will be right with the USA again.
lol@Lola
Raymond K. Hessel, is that you? I’ve got your driver’s license. You’ve got six weeks to become a vet — or else.
Six weeks to START becoming a vet. Would you want a vet with six weeks training working on your pet?
https://www.youtube.com/watch?v=9PWbSsVYeFo
Yup, if we can just load all of the Brown People onto buses and send them home, all will be right with the USA again.
Don’t underestimate a frustrated electorate’s desire for a scapegoat.
Don’t underestimate a frustrated electorate’s desire for a scapegoat.
True — some of the worst riots in US history were against Catholic Irish, who were accused of stealing jobs from WASPs. Irish immigrants were portrayed by the MSM as drunk apes. The “Bible Riots” in 1840 got started when nativist Protestants spread the rumor that the Irish immigrants were going to take away everybody’s bible and force everyone to become Catholic. It’s quite easy to exploit nativism, even easier today — just listen to AM radio.
Unlike most of the posters here, most Americans don’t spend their days obsessing over race.
They have to go. It’s a population ticking time bomb, unfortunately. But there’s a whole big wide spacious continent to the south that can accommodate them with plenty of land to farm and best of all, their languages are already spoken there.
“They have to go.”
As an enviro-weenie I agree. More people is seldom the answer.
I’m sorry did you say global warming is the big problem our country is facing today? Are you out of your mind?
I’m sorry did you say global warming is the big problem our country is facing today? Are you out of your mind?
Not at all — the Pentagon is on record saying it’s a huge threat. In the next several years there will some damage to coastal cities, periodic spot interruptions of food and water supply in some localities, mass dieoffs of marine life, fouling of reservoirs due to algae blooms. Climate refugees will be a problem. These events are beginning now and will slowly worsen with time.
By God you ARE out of your mind. lol
Venice, Italy has been dealing with rising sea levels (relatively-speaking) for centuries. I watched a great show on this on public TV.
JEB!, call your brother:
http://dailyentertainmentnews.com/wpgo/wp-content/uploads/2015/07/jared-fogle-katie-mclaughlin-6.jpg
Now THERE is an image.
What’s even more priceless is the story about why Fogle started eating Subway sandwiches to begin with.
http://www.vh1.com/celebrity/2007-05-09/bwe-exclusive-jared-fogle-the-pornography-guy/
He was a pornhead from the beginning.
There are just so many ways to go with this one . . . this one’s clean:
“Five . . . ”
“Five year . . . ”
“Five year prison sentence!”
On the east coast there’s a jewelry chain named Jared. Commercials feature envious women breathlessly talking about the boyfriends buying goodies for them, “Oh, he went to Jared!”
It all has a new meaning for me now.
Jared’s jewelry has been out west for many years as well.
it is time to default on your debt. dont be afraid of the banks.
R u dumping your U.S. stocks along with the other bovines?
Howard Gold’s No-Nonsense Investing
Opinion: Great news: Investors are dumping U.S. stocks
By Howard Gold
Published: Aug 20, 2015 6:42 a.m. ET
And that should be viewed as a contrarian indicator
Bloomberg News/Landov
Investors’ flight from U.S. stocks may not be grounded in reason.
Last week came the news that American investors were unloading U.S. stocks like sailors throwing ballast overboard a sinking ship.
In the first seven months of 2015, U.S. investors pulled a net $78.7 billion from domestic equity mutual funds and exchange traded funds while pouring a net $179.2 billion into funds and ETFs specializing in international stocks, according to Morningstar.
More striking, through July, investors yanked more money out of U.S. equities than in any other year, including the financial crisis and the Great Recession, since 1993. Meanwhile, inflows into international funds through July approached the record for an entire year, set in 2013.
“The S&P 500 has only delivered a mediocre 3.4% return this year. The MSCI EAFE Index, on the other hand, has returned 7.7%,” Morningstar wrote.
“The consensus is that the United States is in the late stages of its bull market. … The United States and Europe are at different points in the economic cycle, and this is reflected in the flows.”
Much of the money going into international equity went toward large-blend and European stocks, Morningstar reported.
But I wouldn’t give these institutional and individual investors too much credit yet; in fact, their disdain for U.S. stocks may be a great contrary indicator.
…
Mostly suckers play with single stocks. But hey, drive the market down so I can get some mutual fund options on the cheap.
Puggs, let us know when you jump back in. I too am waiting to buy some funds.
Dow 16000? S&P 1800?
Our forecast is Dow 5000.
“our” As is the other folks using the library computers?
Remember….. Falling prices are good for your economy.
ft dot com
Markets Insight
Last updated: August 20, 2015 9:12 am
Clock is ticking on US equity correction
Michael Mackenzie
Investors appear sanguine given slowing China and likely rate rise
©Bloomberg
By any measure, this has been some bull market for US stocks.
Nothing illustrates this better than the fact that 46 months have elapsed since the S&P 500 experienced a typical drop of 10 per cent from a recent high. This type of correction, rather like the ebb and flow of a tidal pattern, represents a normal functioning market, a feature that has been distinctly lacking in recent years.
Now as the Federal Reserve looks to shift borrowing costs higher for the first time in nearly a decade and China’s slowing economy and recent currency devaluation hints at potentially bigger problems ahead, investor sentiment towards the S&P 500 appears sanguine.
…
“But I wouldn’t give these institutional and individual investors too much credit yet; in fact, their disdain for U.S. stocks may be a great contrary indicator.”
Not my cup of tea but I’d bet it is a hedge that the dollars falls and the euro gains or that Yellen will raise rates. Perhaps it is just the beginning of a loss of confidence in the American Banking system and the Fed.
Robin Williams was murdered by this golddigger, and now she wants more free sh*t:
http://www.latimes.com/local/lanow/la-me-ln-robin-williams-estate-20150819-story.html
When divorce laws are controlled by Marxist-feminists, this is what you get
When divorce laws are controlled by Marxist-feminists, this is what you get
FWIW, he didn’t have to get remarried after his first wife took him to the cleaners in Divorce Court.
Former HBB poster Overtaxed has sure been on a roll lately, eh Rockstar?
Not that I would ever share where he went, LOLZ
Wait, what?
Did I miss something? I wouldn’t be surprised… Why get married unless kids are in the picture? Without kids, it’s far better to avoid marriage entirely!
He participates in some other internets that I’ll not be naming or linking to here…
Wait, did he separate? And I think he’s posted a few times recently.
And why get married if there aren’t kids (aside from emotional attachment)? Basically, a woman’s worst nightmare is to be dumped, and tying the knot is the single best way to prevent being dumped. If your SO is just a long-term BF, you don’t have much wiggle room. All it takes is one wrinkle or a few pounds and the BF can be outta there easy peasy and you’re stuck. But if you tie the knot, the guy has to file papers and pony up. So, he’s more likely to tolerate the you, becoming a “long suffering husband.”
Financially, the women want the marriage to get a piece of hubby’s income. Doesn’t have to be minks and pearls. They just want a reasonable meal ticket, say ~$70K. Because let’s face it, on their own, many women just aren’t $70K material. And what’s going to happen when they are in their 60s? Yikes.
The oldest profession is the only one still hiring.
Yeah, do tell, without giving away his location. Wha’ hoppen?
I’m going to assume she cheated on him or else asked for a divorce.
His wife was younger/more attractive and makes less money.
He didn’t want kids.
It was always a recipe for eventual divorce. They also overspent on their house and bought in a troubled area of a troubled state (Floriduh).
He was overly concerned with his taxes being too high and not concerned enough that his wife would take 1/2 his money.
I’ve always said, there is a massive difference between high income and rich. A lot of people have a high income but are not part of the ownership society, which is more about _cultural_ factors, often passed down from parents. Being born to well-off parents is by far the largest determinant of high standing in the U.S. because it allows one to focus on building control, not working for someone else.
He shared his location himself. I’ll not say specifically, but he was in South Florida. Bought an expensive house despite yrs of reading/posting on HBB. Got married despite not wanting children. Wife was younger and had the type of job women often have right up to the point they start a family. As a couple they may have earned more than me & my wife, but he’d said they both came from working class families, i.e. they were reliant on salaries without investments or cash flowing assets.
I don’t know what happened… but separation/affair/divorce wouldn’t exactly be a huge shock. Striver couples have a lot of tension bc they feel like they should be able to live like 1%ers, but their situation is more tenuous than actual 1%ers.
Now that you mention it, I do recall him sharing that his wife wanted kids and he didn’t. In fact I think he even asked for some advice here. I think oxide had some very wise words for him.
Well, no harm no foul. Given that there are no kids, in Florida it is possible for the guy to walk away without too much damage. It’ll be a little messy, but it can be worked out. A smart lawyer or mediator will advise both parties to walk away clean. The house, of course, could complicate things.
Some women are not always up front in these matters. Some will say they don’t mind not having kids and then change their tune when the biological clock starts ticking. I’ve seen it happen.
The poster in question is not divorced and still without children
And living a pretty nice life now if what I read is all true
Well, then things turned out OK for the guy after all, good on ‘im. He did sound a little anxious when I read the post about the wife, so I’m glad the story had a happy ending. It usually doesn’t.
Excellent news. Falling prices is more money in your wallet.
Update: Crude Price Craters To 52-Week Low
http://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic
Another day, another 3%+ drop in Chinese share prices…
Chinese economy
China stocks tumble as investors remain cautious
CSI300 index of largest listed companies in Shanghai and Shenzhen fell 3.2%, while Shanghai Composite Index lost 3.4%
Investors look at stock markets boards.
The Shanghai exchange is down about 7% since China devalued the yuan by nearly 2%.
Photograph: China Stringer Network/Reuters
Reuters
Thursday 20 August 2015 04.27 EDT
Last modified on Thursday 20 August 2015 07.59 EDT
China stocks tumbled again in late trading, underscoring fragile investor confidence in the market as worries about the world’s second-largest economy persist.
Shares were marginally lower on Thursday morning in China, as statements by a slew of companies that the government had invested in boosted some counters. But by mid-afternoon, prices began to drop.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 3.2%, to 3,761.45 points, while the Shanghai Composite Index lost 3.4%, to 3,664.29.
The Shanghai exchange is down about 7% since China devalued the yuan by nearly 2% on 11 August.
On Wednesday, the indexes had reversed sharp losses to end higher, as roughly 30 Chinese-listed companies, many small caps, disclosed holdings by government-backed investors in an apparent attempt to sooth market panic following the previous session’s 6% tumble.
“Even as the government has the will to put a floor under the market, whether it has the ability to do so is in doubt,” said Hou Yingmin, an analyst at AJ Securities, citing adversities including an anaemic economy, capital outflows and ugly technical patterns.
“Without fresh money inflows, any rebound is not sustainable,” he added.
…
Chinese Stocks Resume Rout on Economy, Capital Outflow Concerns
Bloomberg News
August 19, 2015 — 6:28 PM PDT
Updated on August 20, 2015 — 1:21 AM PDT
…
Capital Outflows
The CSI 300 Index lost 3.2 percent, closing at a six-week low. Gauges of health-care, industrial and consumer companies fell more than 3 percent.
Guangzhou Baiyunshan Pharmaceutical Holdings Co. retreated 10 percent and China Shipbuilding Industry Co. lost 9 percent. Hithink Flush Information Network Co. tumbled 10 percent. The company is facing a probe by the securities regulator and said it may be temporary delisted.
July economic data from China showed industrial output, retail sales and fixed-asset investment all trailed analyst estimates. Yuan positions at the central bank and financial institutions fell by the most on record last month, a sign capital outflows have picked up.
The government has armed a state agency with more than $400 billion to bolster share prices and told state-owned companies to buy stocks. It’s seeking to prop up the market after a drop of more than 30 percent in the Shanghai gauge threatened to undermine confidence in President Xi Jinping’s ability to manage the economy.
Lacking Confidence
“The market is still lacking in confidence. It’s back to the downtrend after yesterday’s mild rebound,” said Wu Kan, a Shanghai-based fund manager at JK Life Insurance Co. “We cannot rule out the possibility that the market will test the earlier low level of around 3,300” set on July 9, he said.
…
It may take some time for the Chinese stock market to find bottom. When the NASDAQ fell in 2000, it took two years for it to fall from 5,000 to 1,108.
Sell now.
Buy FXP !
No need to sell if you never bought to begin with.
Buy (FXP) Chinese market short fund
Got falling BRICs?
Jeff Reeves’s Strength in Numbers
Opinion: China and other emerging markets stocks are worse investments than the U.S.
Published: Aug 20, 2015 1:35 p.m. ET
Brazil, Russia, India, and China won’t see troubles end soon
Bloomberg
Pedestrians walk past residential buildings under construction in Beijing, China.
By Jeff Reeves
Columnist
According to Wall Street lore, the term “BRICs” was coined by Goldman Sachs in the early 2000s. It wasn’t just the acronym that was catchy to investors, but also predictions that the group’s collective economic might would overtake the existing economic leaders across the next 30 or 40 years.
Yet the promise of the BRICs — Brazil, Russia, India and China —has fallen flat.
Emerging markets certainly had their day throughout the 2000s, but aside from a big snap-back in 2009 and the occasional swing trade, emerging-markets funds have disappointed since the financial crisis.
Part of the problem has come from high expectations meeting the reality of slowing growth in recent years. Part of it remains the specific troubles of the moment, including low commodity prices that adversely affect these resource-rich nations. But each of these regions also has structural long-term issues that suggest more trouble ahead.
I remain convinced that the BRICs are doomed to continue their underperformance for the rest of this year and into 2016, and that investors should avoid these regions, despite their long-term growth potential.
Here’s why:
China is broken
China “surprised” with a 7% GDP growth rate in the second quarter. However, many Wall Street experts have been skeptical of Beijing’s statistics for years, due to data discrepancies and the opacity of the Chinese government, so it’s difficult to believe this growth rate is true.
In fact, Citigroup said a month or so ago that it thinks the actual rate is closer to 5%.
Either way, according to World Bank data, this is the worst annualized growth for China in 25 years, since a 3.9% pace in 1990 — slower even than the 7.4% growth rate posted in 2014.
…
China Crater
http://cdn.bgr.com/2015/08/tianjin-explosion-crater.jpg?w=624
The URL string indicates otherwise, but the title of this article is “D.C. officers accuse Lanier of hindering policing efforts”
http://www.washingtonpost.com/local/crime/body-discovered-in-woods-in-southeast-washington-dc-police-say/2015/08/19/7dd404ae-4673-11e5-8e7d-9c033e6745d8_story.html?tid=HP_local?tid=HP_local
“If I had a son, he’d look like Trayvon” — President Barack Obama
it it time to leave the retailer holding the bag again? shake em out?
They can hold the bag until they slash prices by 50%.
Rumors of lots of overtime being expended at TMZ, Raw Story, Drudge, Salon, Breitbart, Daily Mail, etc., all scanning through leaked Ashley Madison database files looking for celebrities and politicians. It’s just a matter of time until the first names come out. Breaking…
Josh Duggar had an Ashley Madison account, LOLZ
Rallying the base…
That confuses me. I thought Duggar was part of the base?
I actually read those World Net Daily articles that I post here. I know that the 1st Amendment guarantees freedom of religion to these people, but it’s just really depressing knowing that they also vote…
Stock market bulls are running for cover, even as the case for near-term Fed Funds rate liftoff collapses.
Markets
Stock Markets Fall Sharply on Growth Fears
More dovish-than-expected Fed minutes did little to calm investor nerves
By Tommy Stubbington
Updated Aug. 20, 2015 12:41 p.m. ET
Global stock markets fell sharply Thursday amid continued concerns over lackluster global growth.
The declines came after Wednesday’s minutes from the U.S. Federal Reserve’s July meeting offered no clear signal that it is getting ready to raise interest rates next month. Fed officials highlighted a range of reasons for caution, from tumbling oil prices to a slowdown in China.
The suggestion that rates could stay at rock bottom beyond September brought little comfort to investors, who have recently been rattled by signs that Beijing is struggling to contain the fallout from a cooling economy after devaluing the Chinese currency last week.
U.S. stocks fell, with the S&P 500 1.1% lower midway through the session. The Dow Jones Industrial Average fell 1.2%.
Investors look at an electronic board showing stock information at a brokerage house in Haikou, Hainan province, on Wednesday. Chinese stock markets took a wild ride on Wednesday, and the volatility continued Thursday when the Shanghai Composite closed 3.4% lower.
The moves echoed earlier declines in Asia and in Europe. Losses accelerated in European markets after Greek government officials said Prime Minister Alexis Tsipras plans to hand in his resignation, clearing the way for early national elections.
“A more dovish-than-expected set of [Fed] minutes might have been expected to calm investor nerves, but the highlighting of a softer global growth outlook has just intensified their recent concerns,” said Ian Williams, economist and strategist at brokerage Peel Hunt.
Jitters from China have hit a market where stock valuations are high and the Fed is injecting an extra degree of uncertainty, according to David Vickers, a senior portfolio manager at Russell Investments.
“The timing of the Chinese devaluation was unfortunate. In an expensive market that was one more piece of bad news investors weren’t willing to look through,” he said.
With the timing of a rate increase still cloudy, investors turned to the latest economic data for clues. Initial U.S. jobless claims rose 4,000 to 277,000 in the week ended Aug. 15, the Labor Department said Thursday. The level is historically low, suggesting the labor market continues to improve.
Earlier, Chinese shares extended their streak of big swings.
The Shanghai Composite closed 3.4% lower after taking a late tumble, Hong Kong’s Hang Seng lost 1.8%, while Japan’s Nikkei fell 0.9%.
The Stoxx Europe 600 closed 2.1% lower, taking a late dive as the prospect of fresh elections raised concerns over Greece’s ability to meet the conditions required for its recently-agreed third bailout.
Athens’s benchmark stock index ended Thursday 3.5% lower.
Germany’s DAX ended down 2.3%. The U.K.’s FTSE 100 was down 0.6% and has now lost more than 10% since its all-time high in April, following the DAX into a so-called correction.
European shares have been hit hard by China’s recent devaluation of the yuan, which stung many exporting companies that rely on Chinese demand.
…
September is almost here…
Back to school time?
Here is a little news which should cheer anyone who is concerned about the recent reemergence of irrational exuberance in U.S. asset prices.
Market timer Tom McClellan sees stocks set up for ‘ugly decline’
Published: Aug 20, 2015 11:09 a.m. ET
McClellan is bullish, but he expects a definitive peak in within the next week
By Tomi Kilgore
Reporter
Tom McClellan expects ‘nothing good for bulls’ the rest of the year
Tom McClellan loves doing what financial advisers tell you not to do. He tries to time the financial markets — to the exact day, if his charts align just right.
At the moment, they are telling him to be bullish on the stock market for all of his trading time frames, including those that trade every few days, weeks and months. But bulls should be ready to flee, as soon as this week.
That’s because McClellan said his timing models suggest “THE” top in stocks will be hit some time over the next week. He expects “nothing good for the bulls for the rest of the year,” he said in a phone interview with MarketWatch.
McClellan doesn’t have a strong view on how far stocks could fall, just that it will probably be an “ugly decline” lasting into early 2016. The good news is that his models suggest it should not be as bad as the 2007-to-2009 bear market, when the S&P 500 Index SPX, -1.91% plunged as much as 57%, or the 2000-to-2002 selloff when the index plummeted 49%.
“I try to get the direction right, and I let the magnitude take care of itself,” McClellan said.
…
Panicked bulls are stampeding over the nearest cliff…
Bulletin Dow closes down 358 points; Nasdaq’s 2.8% fall is worst since April 2014
New York Markets After Hours
After Hours EarningsWatch
Market Pulse
A quarter of S&P 500, a third of Dow in bear territory
Published: Aug 20, 2015 3:12 p.m. ET
By Wallace Witkowski
Reporter
One out of four stocks on the S&P 500 (SPX, -2.11%) Thursday are firmly in correction territory, or down 20% or more off their 52-week highs. At last count, 133 stocks on the index are bearish, according to FactSet data, paced by Freeport-McMoran Inc. (FCX, -0.10%) Chesapeake Energy Corp. (CHK, -2.45%) and Consol Energy Inc. CNX, -0.64% which are all down more than 70% from their 52-week highs. Other notable stocks down 50% or more from their 52-week highs include Keurig Green Mountain Inc. (GMCR, +1.86%) Micron Technology Inc. (MU, -7.36%) and Wynn Resorts Inc. (WYNN, -5.19%) Notable stocks that just slipped 20% or more below their 52-week highs on Thursday include Monsanto Co. (MON, -2.13%) Dow Chemical Co. (DOW, +0.05%) General Motors Co. (GM, -2.53%) and Texas Instruments Inc. (TXN, -3.60%) On the Dow Jones Industrial Average (DJIA, -2.06%) nearly one third of components are bearish, with Chevron Corp. (CVX, -2.04%) DuPont (DD, -1.39%) and Caterpillar Inc. (CAT, -1.27%) leading laggards off their 52-week highs.
…
Let it crater, then buy later for 65% less.
rapidly.depreciating.houses.
I see you still dont have the nutz to tell us where you live? Embarrassed?
All that anger. Cheer up my friend…. cheer up. Prices are falling.
Remember…… If you have to borrow for 15 or 30 years, its not affordable nor can you afford it.
remember - pizza is just an opened faced, hot sandwich.
Falling prices my friend….falling prices.
“ST. PETERSBURG — Condo owners in Signature Place, Tampa Bay’s tallest and newest condo tower, are being hit with $8.7 million in special assessments to correct “urgent construction defects” that endanger residents and pedestrians.”
http://www.tampabay.com/news/business/realestate/condo-owners-at-st-petes-signature-place-stunned-by-87-million-assessment/2241922
Pay your assessment now or be priced out forever….
Sigh. When will people ever learn that buying a condo in Florida is a really, really bad idea.
Boy, I wish my apartment complex had shared legal and maintenance liabilities like those lucky condo folks in Florida. All I have is a ridiculously low rent, and a staff on call to make any repairs I might need.
“All I have is a ridiculously low rent, and a staff on call to make any repairs I might need.”
Section 8?
Another SJW fraud (redundant, I realize) exposed.
http://www.breitbart.com/big-government/2015/08/20/family-members-and-childhood-friends-confirm-shaun-king-is-white/
Just as I said, two groups of whites, one using people of color against the other.
Turns out, the lefties have their own schisms they’re trying hard to suppress:
http://takimag.com/article/the_revolution_will_not_be_emphasized_david_cole#axzz3jIPorCZT
Never heard of Outside Agitators 206. Interesting.
I appreciate you and the few other posters here keeping the discussion going about who Social Justice Warriors™ are, what they do, what they believe
Unless you interact with people under age 30, or worse yet under age 25, you have no idea how bad it is
They have the entire summary of recorded human knowledge available in the smartphone in the palm of their hand, but they have less intellectual curiosity or critical thinking skills than any generation before them
Without Facebook, Twitter, Instagram, they can’t think or feel anything
Yeah, but what’s really pathetic are the over 40 SJWs.
Or the over 50s reliving their hippie yout through the interwebs. In between doses of Viagra. And now the ladies can play, with this new female libido drug.
It’s really gonna get ugly in the retirement communities of Florida.
You could power a good-sized city by harnessing a turbine to the revolving door between Goldman Sachs and the entities like the Federal Reserve that are supposed to be overseeing them.
http://www.weeklystandard.com/blogs/pathetic-spin-goldman-sachs_1014736.html
More stupidity from our NEA indoctrination mills.
http://www.independent.co.uk/news/world/americas/us-teenager-sent-home-for-violating-school-dress-code-by-showing-her-collarbones-10464020.html
Media stocks got monkey-hammered today. You think maybe the sheeple are finally getting tired of being lied to, and are cutting the cord?
Market down 350 at close. Sounds like a lot, but it’s only 2%. Yawn. Wake me up when it dumps at least 10%. Then I’ll believe it’s serious.
The way these things work is a series of smaller drop leaves the stockholder down 10%:
http://www.bloomberg.com/quote/TRAN:IND
Look back to 12/29/14
Ben:
Exactly - Dow now down near 1300 pts in the last 8 weeks. This could get real ugly before it is over. Demand is dropping across the board.
This one is down over 10% since last month:
‘NASDAQ Biotechnology (^NBI)
3,674.20 -154.79(-4.04%) NASDAQ GIDS - As of 5:15P
http://finance.yahoo.com/q?s=^NBI&ql=0
Boston real estate, here it comes!
SunEdison, Inc. (SUNE) -NYSE
12.10 Down 1.37(10.17%) 4:01PM EDT
After Hours : 11.96 Down 0.14 (1.16%) 7:59PM
52wk Range: 11.78 - 33.45
http://finance.yahoo.com/q?s=sune
Down almost 2/3rds since July.
An exceptionally outrageous flip appeared in my town today, 465 sq. ft @ $720/sq. ft, $335K….this would be ridiculous anywhere in town BUT this house is across the street from the U.S. 101 freeway and in an area with a very high homeless population, will be interesting to follow this one.
http://www.realtor.com/realestateandhomes-detail/829-Davis-St_Santa-Rosa_CA_95401_M15291-40347?row=2
That would be a very cute Oil City house for $60K. (shut up HA). The lot size is perfect if you want a small garden but no lawn. But I’d want a basement for the mechanicals and a freezer.
And not a buyer in sight at half that amount. And you’ve already got your nightmarish crater Donk.
America’s chickens…are coming home to roost.
- Jeremiah Wright
Timberrrrrrrrrr!!!!!
George Carlin’s fearlessness in calling out the oligopoly earned him his own FBI file in the Land of the Not So Free.
http://www.zerohedge.com/news/2015-08-20/fbi-had-12-page-file-george-carlin-because-he-made-jokes-about-government
Does it suddenly almost seem as though the sky is falling?
Why is U.S. crude below $40 a sign of “danger”? Wouldn’t that put more money in consumers’ pockets to spend on other things besides petrol?
Dow closes down 358 points as oil slides
Adam Shell, USA TODAY
6:08 p.m. EDT August 20, 2015
Wall Street logged a third straight day of losses Thursday — the Dow tanking 358, its biggest point plunge since Nov. 9, 2011 — as investors grappled with fresh questions about the timing of the Federal Reserve’s first interest rate hike, slowing global growth and continuing volatility in oil prices that puts U.S. crude in danger of falling below the key $40 a barrel mark.
When the closing bell rang, the Dow sat below 17,000 for the first time since Oct. 29.
The Dow Jones industrial average ended down 2.1% to 16,990.82, following a 163-point drop Wednesday. It was the Dow’s worst day since June 29 when it tumbled 350 points.
…
Is it wrong for me to be amused over the predictable stock market crash that somehow nobody could have foreseen?
Riviera Beach City Council votes to approve change from Old Dixie Hwy to President Barack Obama Hwy
Monica Magalhaes, Michelle Quesada
9:33 PM, Aug 19, 2015
One Riviera Beach woman who chose to conceal her identity said she’s lived in Riviera Beach since the 60s and says the history doesn’t bother her.
“I think that the name should stay Old Dixie cause that’s a landmark, it’s history. It was there when we came, it’s been here for years and I think we should leave it there,” she said.
She’s all for naming a street after President Barack Obama, just not in the proposed area.
‘What we do we have to show for Barack Obama on Old Dixie?” she questioned.
Her concern was echoed by Chair Dawn Pardo and two other residents who spoke and said the area is full of blight.
http://www.wptv.com/…ty-council-votes-to-change-old-dixie-highway-to-barack-obama-highway - 387k -
http://www.bing.com/videos/search?q=chris+rock+martin+luther+king+boulevard+joke&FORM=VIRE3#view=detail&mid=408C415CBC5A959F6D1E408C415CBC5A959F6D1E
About Martin Luther King Jr Blvd / Old Dixie Hwy
Real Estate Prices and Overview
Martin Luther King Jr Blvd / Old Dixie Hwy median real estate price is $129,050, which is less expensive than 71.8% of Florida neighborhoods and 67.2% of all U.S. neighborhoods.
The average rental price in Martin Luther King Jr Blvd / Old Dixie Hwy is currently $827, based on NeighborhoodScout’s exclusive analysis. Rents here are currently lower in price than 78.7% of Florida neighborhoods.
Martin Luther King Jr Blvd / Old Dixie Hwy is a suburban neighborhood (based on population density) located in Riviera Beach, Florida.
Vacant apartments or homes are a major fact of life in Martin Luther King Jr Blvd / Old Dixie Hwy. The current real estate vacancy rate here is 17.9%. This is higher than the rate of vacancies in 81.0% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
Notable & Unique: People
Single parenting is hard. But you don’t have to tell the Martin Luther King Jr Blvd / Old Dixie Hwy neighborhood about it; they already know. 32.2% of this neighborhood’s households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 99.6% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
In addition, the Martin Luther King Jr Blvd / Old Dixie Hwy neighborhood has a greater percentage of children living in poverty (75.9%) than found in 98.7% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Notable & Unique: Diversity
Did you know that the Martin Luther King Jr Blvd / Old Dixie Hwy neighborhood has more Jamaican and Haitian ancestry people living in it than nearly any neighborhood in America? It’s true! In fact, 16.9% of this neighborhood’s residents have Jamaican ancestry and 10.1% have Haitian ancestry.
The Neighbors: Income
The neighbors in the Martin Luther King Jr Blvd / Old Dixie Hwy neighborhood in Riviera Beach are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout’s research shows that this neighborhood has an income lower than 94.0% of U.S. neighborhoods. With 75.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.7% of U.S.
http://www.neighborhoodscout.com/fl/riviera-beach/martin-old/ - 218k -
Why did Obama throw Hillary under the bus?
HILLARY 2016
http://www.cafepress.com/+thrown-under-the-bus+t-shirts - 230k -
Organized (aided by a middleman) squatting in Las Vegas. Och aye!
Las Vegas City Scene 080115
Oh the humanity!
Asian stocks fall further after global sell-off
Associated Press
By JOE McDONALD
55 minutes ago
BEIJING (AP) — Asian stocks fell further Friday after a survey showed Chinese manufacturing weakened this month.
KEEPING SCORE: Tokyo’s Nikkei 225 plunged 2 percent to 19,629.87 points and the Shanghai Composite Index lost 1.1 percent to 3,625.89. Hong Kong’s Hang Seng fell 1.8 percent to 22,340.44 and Sydney’s S&P ASX 200 retreated 1.7 percent 5,197.50. Seoul’s Kospi shed 1.5 percent to 1,885.78, and Taiwan, Singapore and Jakarta also fell. On Thursday, U.S. stocks suffered their worst day in 18 months, with the Dow Jones industrial average and Standard & Poor’s 500 both off 2.1 percent and the Nasdaq composite down 2.8 percent.
CHINA JITTERS: The preliminary version of the Caixin purchasing managers’ index, formerly sponsored by HSBC Corp., fell to an unexpectedly low 47.1 points from July’s 47.8 points on a 100-point scale on which numbers below 50 show a contraction. That added to concern about the outlook for China’s cooling economy that has caused the Shanghai index to tumble this week despite a massive government intervention. Abroad, last week’s surprise devaluation of China’s yuan has sent shockwaves through other emerging countries that might face tougher competition from lower-priced Chinese exports. China’s market benchmark fell 6.1 percent on Tuesday and closed up Wednesday only after what analysts suggested might have been heavy buying by a state company charged with shorting (SIC ) up prices.
ANALYST’S TAKE: “Chinese markets are still struggling with selling pressure, and the guessing game that the authorities are playing with the market participants has yet to be proven as a good tactic. Therefore, it’s anybody’s guess whether the China Securities Finance Corp, the de-facto state margin trader, would throw its weight behind the Chinese equity market today,” said Bernard Aw of IG Markets in a report. “Should sellers find no state buying, particularly near the end of the trading session, they may be inclined to push lower.”
WALL STREET: Selling on Thursday outweighed buying by a ratio of more than eight to one in heavy trading. Strategists and traders, noting the lack of major U.S. economic news, said the drop in stocks was also likely tied to computerized selling after the S&P 500 moved below one of its most closely watched indicators, a 200-day moving average. While many investors buy and sell stocks based on a company’s business outlook, there is a different class of traders who rely on such technical indicators to make investment decisions.
…