January 3, 2016

Bits Bucket for January 3, 2016

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172 Comments »

Comment by Professor Bear
2016-01-03 02:53:33

Would you prefer a president or a dictator going forward from November 2016?

Comment by Professor Bear
2016-01-03 02:59:04

The Guardian
Donald Trump
‘Trump is disgusting’: skywriters leave message high above Rose Parade
Opposition appears in sky during New Year’s Day parade through Pasadena, California ahead of Rose Bowl featuring Iowa Hawkeyes and Stanford Cardinals
Rose Parade spectators watch as airplane skywriters write ‘America is great! Trump is disgusting’ above the parade route.
Photograph: Michael Owen Baker/AP
Jessica Glenza in New York
Friday 1 January 2016 16.41 EST

Opponents of the Republican presidential frontrunner took to the skies over California on Friday, in order to leave their message: “Anybody but Trump.”

The message appeared towards the end of the Rose Parade, an annual march through Pasadena, California that is celebrated each New Year’s Day.

Skywriters captured public attention with messages reading “America is great. Trump is disgusting” and “Iowans dump Trump”, dotted through a cloudless sky. Though Trump was notified of the skywriting through his Twitter account, as of Friday afternoon he had not responded.

Amazement from the crowd was apparent in social media posts. One video captured the remarks of an onlooker: “Oh my god, I love it so much”. Each year, about 700,000 people attend the parade.

Comment by SUGuy
2016-01-03 06:15:39

Experienced wise businessmen never bad mouth the competition. They usually just point out the excellent benefits of their products or services in that regards please tell us

Why We The People Of America should elect Hillary Clinton???????

Comment by Ben Jones
2016-01-03 06:26:14

‘Why We The People Of America should elect Hillary Clinton?’

I never got an answer to that either.

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Comment by Goon
2016-01-03 06:40:58

Why? Because the Huffington Post leads with an article about a militia taking over a federal building in Oregon:

http://m.huffpost.com/us/entry/8906232

Only Hillary can heal this fractured country, just like Obama has been doing for the past seven years, because it’s gonna take alot more time to recover from all the damage W did, right?

 
Comment by Blue Skye
2016-01-03 07:27:37

It may not be necessary for there to be an actual reason to put the Clintons back in the Presidency for another term. It’s like having leftovers for dinner.

 
Comment by CountUrBlessings
2016-01-03 08:13:31

Professor is massively blinded by Trump hate due to his wife or girlfriend or someone being Muslim. He is also antirepublican, despite “professing” impartiality and objectivity (as many posters have commented here).

 
Comment by Professor Bear
2016-01-03 08:54:04

I never professed impartiality. I strongly dislike today’s versions of both of the neocon parties.

I particularly find Trump’s efforts to get Hillary elected very disgusting.

 
Comment by Professor Bear
2016-01-03 09:05:17

I don’t hate Trump; I just don’t want a president who openly espouses bigotry, hatred and torture.

I know it’s hard for folks who secretly long to share his bed to grasp this nuance….

 
Comment by The Central Scrutinizer
2016-01-03 09:31:08

Because she won’t start world war 3 when Putin hurts her feelings.

 
Comment by Blue Skye
2016-01-03 09:31:34

“I just don’t want a president who openly espouses bigotry, hatred and torture”

Been unsatisfied for a long time then, and suddenly all your rage at one person who hasn’t actually done any of it. Just a little incredulous.

 
Comment by Professor Bear
2016-01-03 20:08:44

“Been unsatisfied for a long time then,…”

Are you insinuating that Obama is racist, in your unbiased opinion?

Perhaps he hasn’t been racially impartial. But if you are honest, then you will have to agree that Trump is far more openly bigoted than Obama is.

 
Comment by Blue Skye
2016-01-03 21:09:48

PB, I have no unbiased opinions and even fewer informed opinions. I don’t care much at all about race unless it is stacked up to cause harm. I have no idea what Obama thinks. He is a smooth talker. He is a liar and a thief and a murderer.

You may have to help me here as I have never heard Trump speak, aside from accidentally watching an episode of “You’re Fired” a few (many) years back. Where is his scorching bigotry? Illegal immigration? Well, it’s illegal. it also hurts natural born Americans. Try to limit the jihadists entering? Maybe a good idea! Could he have articulated this differently? Is that the problem, crudeness? It will take a blunt hammer to break down the wall of corruption that you are defending. I think his crudeness and his absolute rejection of the PC thought and speech control machine is what is appealing about him.

You say he is a Hitler or a Mussolini. That is a rather serious charge and probably a quite desperate one. He’s a Redneck rich business guy with a Viking heritage who is pissed off enough to take time out to do a public service. He hasn’t murdered anybody. He doesn’t want to get rich serving Wall Street and the Globalist overlords. Unlike your Obama or your Hillary.

Obama was the candidate of Peace. Clinton rerun is what? Just throw the bums out.

 
Comment by Professor Bear
2016-01-04 00:50:45

“Unlike your Obama or your Hillary.”

So by pointing out The Donald’s numerous warts, I have come to own Obama and Hillary.

Go figure!

 
 
Comment by Oddfellow
2016-01-03 07:56:41

Why We The People Of America should elect Hillary Clinton???????

Logical fallacy: false either/or.

Badmouthing Trump does not require supporting Hillary.

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Comment by Southern Poverty Call Center
2016-01-03 08:03:27

So if Trump and Hillary are the nominees you plan to abstain from voting?

P.S. there are donuts and bagels in the break room but you’d better hurry!

 
Comment by Ben Jones
2016-01-03 08:04:51

Logical fallacy

(Saban, who has claimed that “I’m a one-issue guy, and my issue is Israel,” is currently poised to become the Hillary Clinton campaign’s principal financial contributor.)

Oh there’s a fallacy here. It’s a straight question. Why should I vote for a person who has a guy ‘poised to become the principal financial contributor’ that is a one-issue Israel supporter, when the President just wiretapped the leader of Israel over national security issues?

No Trump. No Marsha, Marsha, Marsha. Just tell us why we should vote for Clinton. You know that’s who you are going to vote for. Tell us why we should join you?

And candidate Clinton, do you disagree with the President in his assessment of Israel in this wiretapping matter?

 
Comment by The Selfish Hoarder
2016-01-03 08:10:40

I will abstain from voting even if it is Rand versus Bernie rather than either Trump or Hillary.

 
Comment by Oddfellow
2016-01-03 08:12:12

I’m voting for Bernie, so I have no reason to defend Hillary.

 
Comment by Ben Jones
2016-01-03 08:21:31

‘I’m voting for Bernie’

That’s the primary, which the DNC will make sure he loses. Will you vote for Clinton in the general election?

And Mr President, what do you make of the Democrat party front runner in light of her Israel financial supporters?

 
Comment by CountUrBlessings
2016-01-03 08:23:03

Bill, your “I am a country of one” is simply a misguided childish utopian fantasy world. But hey, you pay your bills and aren’t on the dole so knock yourself out (and I’m sure you’ll be happy to come up with some starve the beast rationalization once you take more out in Medicare and SS than you out in).

You need to reevaluate your life. Money is not the goal. You need love in your life. I don’t think you will take this to heart because you seem a bit aspie (like Rio also). Find love. It is not too late. Devote your life to this. Find love.

 
Comment by Mafia Blocks
2016-01-03 08:34:54

Vote for Barney Saunders? Another pro-debt slavery candidate?

Why Lola why?

 
Comment by Oddfellow
2016-01-03 08:35:22

Will you vote for Clinton in the general election?

Will you vote for Trump?

 
Comment by Raymond K Hessel
2016-01-03 09:10:45

You need love in your life. I don’t think you will take this to heart because you seem a bit aspie (like Rio also). Find love.

Well said.

 
Comment by Professor Bear
2016-01-03 09:18:16

“Will you vote for Clinton in the general election?

Will you vote for Trump?”

Against logic, I expect the Republicans to nominate a more viable candidate than Trump.

 
Comment by The Central Scrutinizer
2016-01-03 09:33:07

I cling to this hope as well, then I look at what’s in the clown car…

 
Comment by MightyMike
2016-01-03 10:31:19

Would you approve if Bill finds love with a Muslim woman?

 
Comment by Bill, just South of Irvine
2016-01-03 11:00:50

I’ve had love in my life. Been there done that. I only am attracted to intelligent women who also take care of their health and are atheists and anarchists. There are ten in the United States.

As for voting 70% of the eligible voters in 2014 did not vote. They were the smart ones. The rest thoug they could make a difference. BWAHAHAHAHA!

 
Comment by Bill, just South of Irvine
2016-01-03 11:07:29

“Would you approve if Bill finds love with a Muslim woman?”

She was and still is far more intelligent than any Christian woman I met and very kind and more humane. This is why I hate bigots. They only parrot what the government encourages them to parrot.

 
Comment by rms
2016-01-03 16:50:36

Not available, but high-end material.

Rula Jebreal
https://en.wikipedia.org/wiki/Rula_Jebreal

 
Comment by CountUrBlessings
2016-01-03 18:13:15

I absolutely would approve if Bill found love with a Muslim woman. I’d approve if he found gay love. I’d approve of any kind of love. My approval isn’t necessary, just find love. I will give you a self interested reason also. No amount of money will ensure that you are properly cared for when you are too old and feeble. That only comes from love, and even then only if you are lucky. Go to your nearest old folks home and ask the staff how often the family visits a resident on average.

 
Comment by Professor Bear
2016-01-03 20:11:16

Will you vote for Clinton in the general election?

Will you vote for Trump?”

Let’s hope the choice doesn’t come down to that.

 
Comment by Professor Bear
2016-01-03 20:15:47

“I only am attracted to intelligent women who also take care of their health and are atheists and anarchists.”

I held a similar standard when I was in my early 20s, but I eventually relaxed the religion constraint, when it dawned on me that I might never find anyone in America to settle down with unless I became more accepting. So long as someone else’s religion makes them happy and doesn’t dictate that they have to make me miserable or kill me if I disagree with them, I don’t really care that much about my partner’s religion.

 
Comment by Bill, Just South of Irvine
2016-01-03 20:16:42

” that you are properly cared for when you are too old and feeble. ”

Wrong. That did not help my dad. My mom died before him and he was blind. He had to rely on his VA disability and friends. Kids scattered hundreds of miles.

You are irrationally assuming both partners in a relationship die at the same exact time of each other. Such an irrational fallacy is common, I’m afraid.

 
Comment by Bill, just South of Irvine
2016-01-04 00:13:17

Well the other deal is I have the exercise habit. Week nights I am asleep by 9 so I can work out before work. The people at the gym are either single or retired. Very few married professionals are into fitness unless it is their full time job. I had a lot of conflicts with girlfriends who could not live my lifestyle. Baa k even in my 30s I decided I have to pick only two things from: fitness, career, and relationships.

The AIDS and Herpes hysteria helps make the decision which to give up. And I am not a trust fund guy so have to work to afford retirement.

Maybe when I retire I will get a girlfriend again.

 
 
Comment by Raymond K Hessel
2016-01-03 08:09:41

Why We The People Of America should elect Hillary Clinton???????

The election of Hillary Clinton will revalidate, once again, that 95% of American voters are stupid and amoral.

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Comment by azdude
2016-01-03 09:16:06

will janet yellen raise the sh@t out of rates if trump wins it all?

Seems like they are trying to nurture the economy to the election. This is so political and it shouldnt be. Free markets are done.

 
 
Comment by CalifoH20
2016-01-03 12:46:01

Why?

Again, the choice is the lesser of two or 20 evils. I will vote against any warmonger, corp puppet, neo-con, whoever that is.

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Comment by Bill, Just South of Irvine
2016-01-03 21:19:29

I will vote against any warmonger, corp puppet, neo-con, whoever that is.

Me too. I do that by voting NOTA.

 
 
 
 
Comment by SUGuy
2016-01-03 06:07:21

Is Hillary going to reinstate the Glass Steagall act?
Is Hillary going to deport the illegals and follow the constitution?
Is Hillary going to stop the Neocon wars?
Is Hillary going to arrest the crooked bankers?
Please add to the list. Why should we vote for Hillary???
Why is Hillary just like Jeb being forced fed to the country?

Comment by Obama Goons
2016-01-03 06:31:12

Hillaryous is unelectable.

Comment by Ben Jones
2016-01-03 06:44:35

‘The Wall Street Journal story revealing that the Barack Obama administration used the National Security Agency (NSA) to listen to phone calls made by the Israeli Prime Minister Benjamin Netanyahu and his aides is being spun in a number of different directions depending on one’s political proclivities. Sen. Rand Paul told Fox News that he was “appalled by it… you could see how it would stifle speech if you’re going to eavesdrop on congressmen and that it might stifle what they say or who they communicate with.”

‘But whom the congressmen speak to and regarding what is precisely the point, as they were elected to represent their constituents in the United States of America, not the Israeli government. Understanding that, the Obama White House was perfectly within its rights to move aggressively against Netanyahu. The snooping program itself was initiated with bipartisan support towards the end of Obama’s first term, when there were concerns that Netanyahu would order a unilateral attack on Iran that would drag the United States into an unwanted war. In early 2015 its focus shifted to Israeli interference in the U.S. government’s secret involvement in negotiations relating to a possible international agreement with Iran over its nuclear program. It was clear that the Israelis were obtaining classified information on the state of the negotiations and were leaking that information selectively to influence both Congress and supportive organizations within the U.S. regarded as part of the Israel lobby.’

‘How dare we spy on the head of a “friendly” government? Cries of outrage are coming from the usual sources—National Review, the Weekly Standard, and the Wall Street Journal—as this is America’s “greatest friend and closest ally” that we are talking about. Or is it? Israel spies on the United States more than any other ostensibly friendly government does. It has never hesitated to put its own interests first without concern for blowback against the American people. When it is caught out it lies: it did so in the 1954 Lavon Affair, when it would have blown up a U.S. government building; in 1967, when it tried to sink the USS Liberty; and yet again in 1987 to cover up the Jonathan Pollard spy case.’

‘Nor is Israel shy about interfering in American politics. It openly supported Mitt Romney against Barack Obama in 2012. In 2009 Congresswoman Jane Harman was contacted by an Israeli intelligence “agent” and asked to attempt to influence a reduction of the espionage charges in the then ongoing trial of accused American Israel Public Affairs Committee (AIPAC) spies Steve Rosen and Keith Weissman. In return, Harman’s contact promised to support her bid to become chairman of the House Permanent Committee on Intelligence. The Israeli caller, who some suspect was leading Democratic Party donor Haim Saban himself, indicated that he would pressure House speaker Nancy Pelosi using threats to withhold political contributions if Harman were not given the position. Harman was later spoken of as a possible candidate to become Director of Central Intelligence and, without the FBI recordings of her phone conversations, which were made known to Pelosi, she might have obtained either position, or possibly both in succession. (Saban, who has claimed that “I’m a one-issue guy, and my issue is Israel,” is currently poised to become the Hillary Clinton campaign’s principal financial contributor.)’

http://www.theamericanconservative.com/articles/why-the-u-s-spies-on-netanyahu/

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Comment by Ben Jones
2016-01-03 06:46:18

Why doesn’t someone just ask Pelosi?

 
Comment by The Order Of The Golden Chainsaw
2016-01-03 07:35:25

Ms Pelosi, do you believe Trump is a fascist?

 
Comment by Raymond K Hessel
2016-01-03 08:15:44

Anyone who stands in the way of Comrad Pelosi’s permanent Democrat majority and oligarchical neoliberal agenda is a fascist or subversive.

 
Comment by CountUrBlessings
2016-01-03 08:28:26

And this has all been going on for years behind the scenes and hidden from the public. This article talks about something going on in 2009 and seems to say Pelosi knew about this back then?

 
 
Comment by Professor Bear
2016-01-03 09:00:58

The gambling odds strongly favor Clinton over Trump in the general election. No amount of abusive language from Trump is likely to change this, and it may actually worsen the odds.

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Comment by Raymond K Hessel
2016-01-03 09:11:46

Hillaryous is unelectable.

On the contrary, in a nation where 95% of the voters are imbeciles, President Hillary Clinton is a foregone conclusion.

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Comment by Raymond K Hessel
2016-01-03 08:11:42

Hillary was bought and paid for decades ago. She will enrich her donors while finding creative new ways to build up the Democrats dependency voting bloc into an unassailable permanent majority. America deserves everything it’s going to get if it elects this criminal succubus to the highest office in the land.

Comment by CountUrBlessings
2016-01-03 08:29:31

A definitely nought and paid for Hillary v. a possible shill Trump. They pick the bird in the hand.

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Comment by CountUrBlessings
2016-01-03 08:30:46

Bought

 
 
 
 
 
Comment by SUGuy
2016-01-03 05:51:58

Andrew Cuomo has been borrowing money and handing it over to his crony capitalist to fluff up the NYS economy so that Hillary gets elected. Democrats in NY are piling on an already unpayable debt. They are like a band of thieves with no regards for the consequences but are hell bent on taking money from the producers in this state and giving it to the non-producers. There are no jobs for the native born Americans but the Democrat controlled state keeps bringing in third world immigrants and putting them on the dole. Try going to a Walmart or Sam’s club in the beginning on the month and you will be shocked. The anger among decent hard working Americans who want to live a happy middle class life is becoming harder. I speak to lots of them. They want a normal America where laws are followed and if you work hard you will not be punished. But that is not happening. Hillary and Bill and the Democrats represent all of the above. So at least Trump represents a change and perhaps a light at the end of a tunnel. If Hillary wins we will get more of the same as Obama. What will Hillary do that is different than Obama? My answer is no much.

Albany’s corruption is more obvious than ever — but the politicians just don’t care

http://nypost.com/2015/12/31/albanys-corruption-is-more-obvious-than-ever-but-the-politicians-just-dont-care/

Comment by Mafia Blocks
2016-01-03 06:39:14

Corruption in that state is shamefully deep, entrenched and chronic.

Sheldon Silver is just the tip of the iceberg.

Comment by CountUrBlessings
2016-01-03 08:34:55

Just like the media and establishment’s blindness to Trump and eternal wrong predictions about him, they are missing how terribly weak a candidate Hillary is.

Just on the throw the bums out, no “more of the same” point Hillary is a goner.

 
 
Comment by The Order Of The Golden Chainsaw
2016-01-03 06:52:26

But Trump is a fascist.

Comment by CountUrBlessings
2016-01-03 08:36:15

Is there any reason to think Hillary is not also?

Comment by Professor Bear
2016-01-03 09:13:44

No. But in this case, it is favorable to leave doubt in a voter’s mind.

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Comment by Professor Bear
2016-01-03 09:10:32

Who cares, so long as he protects frightened, angry old Americans from the Muslim terrorists lurking in their closets?

 
 
Comment by Raymond K Hessel
2016-01-03 08:12:56

The anger among decent hard working Americans who want to live a happy middle class life is becoming harder. I speak to lots of them. They want a normal America where laws are followed and if you work hard you will not be punished. But that is not happening.

That is not happening because the sheeple are voting for the corrupt, crony-capitalist status quo, then they wonder why nothing changes.

 
 
Comment by Ben Jones
2016-01-03 06:51:07

Prior to San Bernardino Attack, Many Were Trained to Spot Terrorists; None Did

‘IN MID-NOVEMBER, just weeks before the deadliest terrorist attack on U.S. soil since 9/11, the Joint Regional Intelligence Center and the sheriffs’ departments of San Bernardino and Riverside counties held the First Annual Inland Terrorism Liaison Officer Conference in Fontana, California. The two-day event — for law enforcement, public officials, and select members of the private sector — included sessions like “Policing Violent Extremism” and “Preventing Lone Wolf Attacks.”

‘In fact, this part of California’s Inland Empire has become home to a cottage industry of counterterrorism training in recent years aimed at teaching people how to spot would-be terrorists before they attack. By all accounts, those trainings failed to help anyone spot Syed Rizwan Farook and Tashfeen Malik, the married couple who shot and killed 14 people and injured 22 others at a meeting of San Bernardino County Health Department employees on December 2.’

‘Many of the trainings, which focus on helping attendees identify “behavioral indicators” of potential terrorists, were held at the Ben Clark Training Center in Riverside, California, less than 25 miles from where the attacks took place.’

‘As for why behavioral indicator spotting failed to identify the San Bernardino shooters, one problem is simply that that the indicators are overly broad. A local law enforcement official involved in the vetting of suspicious activity reports in the Riverside area told The Intercept that prior to the attack, they’d received hundreds of suspicious activity reports, “most of which turn out to be bullshit. We run them down of course, but mostly, it’s a lot of nothing.”

https://theintercept.com/2015/12/31/prior-to-san-bernardino-attack-many-were-trained-to-spot-terrorists-none-did/

Comment by CountUrBlessings
2016-01-03 08:40:48

Their marching orders require them to ignore the obvious like the Dar Uloom mosque where this guy gets radicalized

http://nypost.com/2015/12/27/evidence-links-mosque-to-san-bernardino-terrorist-attack/

 
Comment by Professor Bear
2016-01-03 20:21:25

Were the San Bernardino attackers really terrorists, or were they just deemed so for political reasons, unlike the Colorado Springs Planned Parenthood terrorist?

Comment by Professor Bear
2016-01-03 20:26:14

Editorial: Colorado Springs attack was act of terror
Posted: 12/01/2015 10:23:58 PM MST

Shock gripped Colorado on Friday as TV coverage of yet another violent and senseless act pre-empted the usual airing of post-Thanksgiving football games.

A lone gunman, an assault weapon, possible homemade bombs — these things have become all too familiar to Coloradans as we recoiled from the horror of the Columbine and the Aurora theater shootings, and as we’ve watched similar crimes play out across America.

It’s time to call it what it is — domestic terrorism intended to cause us all to fear what might befall us when we’re out in public.

 
 
 
Comment by Rand Paul
2016-01-03 07:00:53

I don’t care if you’re a Republican or a Democrat, there is something profoundly un-American about using the brute force of government to bully someone.

Comment by CountUrBlessings
2016-01-03 08:44:31

That’s ridiculous. A society that doesn’t use force? Childish utopian fantasy. There are lazy, irresponsible, evil people in the world.

Where are your guns so I can come take them?

Comment by Bill, just South of Irvine
2016-01-03 13:30:28

Voluntaryists are in favor of self defense and retaliatory force as a last resort. We choose nonviolent revolution.

We live nonviolently and vacate the vote, we show the way we want others to live. We certainly do not sanction the state, as the sanctioning is merely perpetuating the apparatus of the state, which can easily be taken control of by the next dictator. Our method, when widely used, will starve the beast.

At worst, we individually thrive, knowing we are not responsible for the screw ups by politicians. The Ron Paul types, Barry Goldwater types, and Robert Taft types are too rare to be the change from within the system. We profit by disobeying victimless crime laws.

 
Comment by Professor Bear
2016-01-03 20:27:42

Belligerence and bigotry breed terrorism.

 
 
 
Comment by Southern Poverty Call Center
2016-01-03 07:05:38

When Sheldon Adelson can’t control the narrative, Sheldon Adelson buys the narrative:

http://www.nytimes.com/2016/01/03/business/media/sheldon-adelsonspurchase-of-las-vegas-paper-seen-as-a-power-play.html

 
Comment by Southern Poverty Call Center
2016-01-03 07:10:57

Region VIII’s own Tom Tancredo disrupts the narrative:

“An epidemic of rape cases across Europe has police in the U.K., Norway, Sweden, Germany and other nations worried. But you won’t hear much about it in the U.S. mainstream media because the epidemic is a byproduct of the influx into Europe of a million, mostly Muslim, migrants.

http://www.breitbart.com/big-government/2016/01/02/political-correctness-protects-muslim-rape-culture/

Comment by Raymond K Hessel
2016-01-03 08:14:21

Tom Tancredo voted for TARP. He is forever a scumbag to me.

 
 
Comment by azdude
2016-01-03 07:45:08

would I be correct in my assumption that rising asset prices are leaving a lot of people behind?

Comment by Raymond K Hessel
2016-01-03 08:18:01

The 99% don’t count in our Obama-Fed-Goldman Sachs “recovery.”

 
Comment by Mafia Blocks
2016-01-03 08:37:13

How do inflated prices matter?

Remember….. I can ask $50k for my 10 year old Chevy pickup but where is the buyer at that price?

So it is with any depreciating asset like houses.

 
 
Comment by Ethan in Northern VA
2016-01-03 07:45:58

I’m randomly watching this video linked from Reddit and to my surprise this girl starts fighting back talking about banks holing onto shadow inventory and there being a new current bubble that will pop:

https://www.youtube.com/watch?v=LMw-h0VSa9g

 
Comment by Combotechie
2016-01-03 08:16:03

A video (run time is about two-and-a-half-minutes):

“The Boom is Over for North Dakota Oil Town As Prices Continue to Drop”

Check out what is said/shown at about 1:10 into the video:

“The roughnecks, laid off, dump their campers in Tom Novak’s junkyard on their way out of town.” More campers than this Tom Novak guy can deal with. “‘Right now it’s just out of control’”, says Tom.

http://www.nbcnews.com/nightly-news/video/the-boom-is-over-for-north-dakota-oil-town-as-prices-continue-to-drop-594592835854

IMO an enterprising guy (one who knows his way around in such things) could descend on Tom Novak’s junkyard and cut a deal with Tom and take away some of the better looking campers (and some of them in the video look pretty good) and drive them over to some place where the demand for campers is high enough for the enterprising guy to be able turn a hefty profit by reselling them.

Comment by azdude
2016-01-03 09:13:39

those are breadwinner jobs that are being lost. I guess the saudis dont want any competition.

I guess the folks that are still operating are just hoping for a turnaround soon. operating at a loss wont last long.

Comment by Blue Skye
2016-01-03 10:06:14

Those are bubble jobs that are being lost. The only shame is that they were created in the first place.

 
 
 
Comment by Combotechie
2016-01-03 08:20:43

An interesting read …

“Data Mining Reveals the Extent of China’s Ghost Cities”

http://www.technologyreview.com/view/544821/best-of-2015-data-mining-reveals-the-extent-of-chinas-ghost-cities/

Comment by Professor Bear
2016-01-03 20:32:16

In recent years, China has undergone a period of urban growth that is unprecedented in human history. The number of square kilometers devoted to urban living grew from 8,800 in 1984 to 41,000 in 2010. And that was just the start. China used more concrete between 2011 and 2013 than the U.S. used in the entire 20th century.

Calling the construction of entire cities of empty buildings “urban growth” is a serious misnomer.

This will become increasingly clear in the coming years as Beijing faces the unpleasant choice of either deconstructing empty cities or letting them crumble into desuetude.

 
 
Comment by Raymond K Hessel
2016-01-03 08:22:07

Sectarian tensions in the Middle East inflamed due to the Saudi execution of a prominent Shia cleric firebrand critical of Saudi policies toward its minority Shia population.

http://www.theguardian.com/world/live/2016/jan/02/middle-east-condemns-saudi-execution-of-shia-cleric-live

 
Comment by Raymond K Hessel
2016-01-03 08:24:15

What happens when corrupt Democrat municipal leaders face the wrath of increasingly ungovernable urban residents?

https://www.washingtonpost.com/national/in-chicago-distrust-toward-mayor-has-turned-personal/2016/01/02/4881c8e6-aff9-11e5-9ab0-884d1cc4b33e_story.html

 
Comment by Raymond K Hessel
2016-01-03 08:30:59

I wonder if the Gun Salesman of the Century has secretly purchased shares in Smith & Wesson, Ruger, etc.

http://america.aljazeera.com/articles/2016/1/2/obama-to-explore-bypassing-congress-on-gun-control-measures.html

Comment by The Central Scrutinizer
2016-01-03 09:37:05

…and Depends, as the angry old men piss themselves in fear yet again.

Comment by Professor Bear
2016-01-03 20:34:43

How many angry old posters here who constantly make derogatory comments about Hillary Clinton wearing Depends speak from first-hand experience?

Comment by MacBeth
2016-01-04 05:13:49

Saved.

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Comment by Raymond K Hessel
2016-01-03 08:41:10

The last thing this country needs is an armed standoff between militia types, some of whom appear to be spoiling for a fight, and the Federal government.

http://www.businessinsider.com/militia-occupies-government-building-in-oregon-2016-1

Comment by Southern Poverty Call Center
2016-01-03 08:51:07

Conveniently scheduled to coincide with King Obama’s grabber initiative set to unfurl this week. I hope nobody gets shot in this, but the proposed solution will be collectivist, as always.

Comment by Raymond K Hessel
2016-01-03 09:08:33

Yeah, I find the timing suspicious. These guys are right out of central casting for “reckless, belligerent anti-government militia whack-jobs” and make the case, far better than Obama could, that tighter gun control is needed.

http://www.dailymail.co.uk/news/article-3382511/Militiamen-federal-wildlife-refuge-Oregon-anti-government-rally-support-two-ranchers-heading-jail-arson.html

 
Comment by phony scandals
2016-01-03 09:41:57

Bill Ayers planned to murder 25 million Americans! - YouTube
http://www.youtube.com/watch?v=XBtANp4IKVk - 195k -

 
Comment by Raymond K Hessel
2016-01-03 12:37:03

Sounds like the rancher family at the center of the imbroglio may have some valid grievances against Federal officials, but the militia, in the words of Rahm Emanuel, are determined “not to let a crisis go to waste” and appear to be trying to exploit the case for their own ends.

http://theconservativetreehouse.com/2016/01/03/full-story-on-whats-going-on-in-oregon-militia-take-over-malheur-national-wildlife-refuge-in-protest-to-hammond-family-persecution/#more-110497

 
 
Comment by Oddfellow
2016-01-03 10:14:34

militia types, some of whom appear to be spoiling for a fight, and the Federal government.

Too bad they aren’t black kids with toy guns, then we could shoot them down without a thought or consequence.

[And before anyone's selective outrage bursts forth, that was sarcasm mixed with a little irony.]

 
Comment by phony scandals
2016-01-03 10:17:25

Wildlands Project - Where You Can’t Live in America

Wildlands Project - Where You Can’t Live in America After Agenda …
http://www.youtube.com/watch?v=BU9mdk1JPSE - 169k -

Comment by Oddfellow
2016-01-03 10:19:42

We need to pave those woods and build a bunch more vinyl shacks and walmarts there.

Comment by Mafia Blocks
2016-01-03 13:43:41

Falling housing prices Lola. Falling housing prices. Aren’t falling prices a good thing?

Grapevine, TX Housing Prices Crater 14% YoY

http://www.movoto.com/grapevine-tx/market-trends/

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Comment by MightyMike
2016-01-03 10:30:10

This is Cliven Bundy’s son:

Bundy said the group planned to stay at the refuge indefinitely. “We’re planning on staying here for years, absolutely,” Ammon Bundy said.

So these people must not have jobs that they need to be at tomorrow morning. They make up some of that large percentage of the population not participating in the workforce.

 
Comment by Oddfellow
2016-01-03 10:41:56

Shut off the water and they’ll be out in a couple days. And where is their food going to come from?

Doesn’t seem like a well-thought-out plan.

Comment by Raymond K Hessel
2016-01-03 11:29:14

Agreed. Shut off water, electricity, and outside deliveries, and wait them out. Don’t make martyrs out of them. After a few days in eachothers’ company, I suspect most of these guys will be more than ready to call it quits and come out waving white flags. Although any jerkoff that points their guns at or otherwise felony-menaces local, state, or federal law enforcement should be locked up.

 
Comment by Blue Skye
2016-01-03 11:36:56

That’s pretty funny! You think the water for that place is piped in from town?

Comment by Oddfellow
2016-01-03 11:58:37

Is it on a well? Does it require power?

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Comment by phony scandals
2016-01-03 14:36:41

“That’s pretty funny! You think the water for that place is piped in from town?”

That wasn’t in Koko’s talking points memo, he will have to get back to you.

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Comment by Oddfellow
2016-01-03 15:22:40

he will have to get back to you.

Is Blue Koko? He seems unable to answer my question despite seeming quite certain that the building somehow has its own water supply.

Obviously he was talking through his hat, and has no idea. So now he’ll ignore me. Feel free to blow some smoke to help his retreat, as you are doing.

 
Comment by Blue Skye
2016-01-03 16:55:23

I’ve spent a lot of time outdoors Oddie. Trust me on this.

Or you could look at a map of the place.

 
Comment by Oddfellow
2016-01-03 17:25:05

map of the place.

Yeah, it’s a wetland, so perhaps there’s potable water and its piped to the building. And I guess they’ll hunt for food? Maybe plant a little potato patch?

Let’s be realistic. The only way it works is if people come pouring in to their aid and overwhelm the local authorities. We shall see.

 
Comment by Blue Skye
2016-01-03 20:08:31

The water is not “piped in”. There is no town. If the place has a well, it is close in. The spring is across the road. The creek is behind the building.

Perhaps the “local authorities” will let them freeze their asses off in the rustic seasonal park building until the drama is fizzled. Perhaps they will get arrested in town two by two when the inevitable beer run or strip bar excursion goes sour.

People like drama and bloodshed though so as you say “we’ll see”.

 
 
 
 
Comment by Bill, just South of Irvine
2016-01-03 12:11:29

Those people are not voluntaryists. A voluntaryist does not challenge the government with lethal force unless it’s the last resort fo self defense. Certainly the Fed interference in state issues violates the tenth amendment.

There are better ways to fight statism and those ways include vacating the banks and vacating the vote.

 
 
Comment by Southern Poverty Call Center
2016-01-03 08:47:07

America’s ‘children in the basement’ won’t be moving out any time soon:

“The share of young adults living with their parents has risen about 4 percentage points (or 3 million individuals) since house prices peaked in 2006,” Goldman Sachs’ Hui Shan and Daan Struyven observed in a recent note to clients. “The share of ‘children in the basement’ has not come down recently despite significant improvements seen in the job market.”

http://www.businessinsider.com/goldman-share-of-18-34-year-olds-living-with-parents-to-remain-elevated-2015-12

No “pent-up demand” for $500,000 starter homes happening here

Comment by Raymond K Hessel
2016-01-03 09:05:20

These dull-eyed slugs, products of our “everyone’s a winner” NEA indoctrination mills, never received the kind of education that would have prepared them to go out and function in society or think for themselves. Instead, they were dumbed down, culturally zombified, and taught that blind adherence to Democrat talking points and political correctness was the highest aim in life. They will be haunting their parents’ basement for a long, long time.

 
 
Comment by Raymond K Hessel
2016-01-03 08:47:10

Robert Fisk tells it like it is about our corrupt, debauched Saudi Royal Family “allies” who are funding Islamic fundamentalism all over the globe.

http://www.independent.co.uk/voices/comment/saudi-arabias-executions-were-worthy-of-isis-so-will-david-cameron-and-the-west-now-stop-their-a6794046.html

 
Comment by Raymond K Hessel
2016-01-03 08:49:09

Rail traffic belies the Fed’s “recovery” meme.

https://www.linkedin.com/pulse/us-economy-still-track-erico-matias-tavares

Comment by azdude
2016-01-03 09:20:51

The million dollar question:

How does the central bank put end?

Comment by Bill, just South of Irvine
2016-01-03 12:04:54

It ends when the world Goes crypto.

 
 
 
Comment by azdude
2016-01-03 09:11:16

“Essentially central banks, by unfairly inflating asset prices have compressed risk like a spring to unfairly tight levels. Unfortunately, the market is aware the price of risk is not correct, but they can’t fight it, and everyone is forced to crowd into the same trade. By manipulating markets they have also reduced investors’ inherent conviction by rendering fundamentals less relevant.”

- Bank of America

 
Comment by aNYCdj
2016-01-03 09:19:21

Barnes and Noble has initiated a mass exodus out of Queens New York. The bookseller has just closed down their Forest Hills location last week and shut down their Fresh Meadows store last year. The only bookstore left standing is the one at Bayside, but Barnes and Noble announced that is going to be shut down later this year.

The Forest Hills location is more than just a bookstore. It was a place where students would do their homework and seniors came by to chat. This location was beloved by the residents and they even started an online petition hoping to keep the store open. It was signed by nearly 6,300 people. Sadly, due to high rents and the lack of sales the store was shuttered last week.

I find it disheartening that a bookstore cannot be financially viable in Queens. This borough is home to 2.3 million people and the most ethnically diverse place on the planet. If a bookstore cannot survive here, how does this bode for smaller markets?

http://goodereader.com/blog/business-news/barnes-and-noble-is-closing-every-bookstore-in-queens

Comment by Oddfellow
2016-01-03 10:54:51

It was a place where students would do their homework and seniors came by to chat.

Youse guys have a library there? Sounds like you were using the bookstore as one.

Comment by Raymond K Hessel
2016-01-03 11:26:15

Maybe if patrons would have actually bought books instead of using the bookstore as a gathering hub, it would still be there. Just sayin’…and anyway, in ‘Murica, how many people read books anymore?

 
 
Comment by MightyMike
2016-01-03 11:59:06

This borough is home to 2.3 million people and the most ethnically diverse place on the planet.

They could have tried selling books written in Spanish, Korean, etc. I wonder if anyone’s tried anything like that in communities like that.

Comment by aNYCdj
2016-01-03 15:51:10

yes they have those local niche stores in sunnyside and other communities, but B&N is a chain, not sure how much they could have carried they also had a food area too…..

my take is big box store are out….at least for me ill pay a little extra for shopping at a store that has 10 aisles instead of 36 at the super stop and shop.

 
 
Comment by The Central Scrutinizer
2016-01-03 21:30:52

They should have bought books instead of signing petitions.

 
 
Comment by phony scandals
2016-01-03 10:39:21

Pretty soon Goon’s cool pictures from his FEMA Region VIII weekend hikes will be off limits to humans so we will have to settle for pictures of the Starbucks in his Smart Growth community.

AGENDA 21 WILDLANDS MAP: NEWSPAPER … - YouTube
http://www.youtube.com/watch?v=LmGSUkWwtUM - 322k -

Comment by Oddfellow
2016-01-03 10:46:36

If the gov sold off the lands to private owners, will they want goon and his friends roaming around their land, shooting guns?

I’m guessing…no. Play time in the woods would be over.

Comment by Southern Poverty Call Center
 
 
 
Comment by In Colorado
2016-01-03 10:55:04

From yesterday:

Comment by In Colorado
2016-01-02 13:12:23
I was reading an article about the recent Rugby World Cup, where Team USA got creamed. A Rugby fan told an American reporter not to feel bad, that Team USA would improve with time and that “you aren’t laughing stock world because of that, you’re the laughing stock because of your guns”

They really do think we’re insane.

Reply to this comment
Comment by Raymond K Hessel
2016-01-02 16:27:47
Sure. And while after they get “fundamentally transformed” thanks to Soros’ refugee hordes, we’ll see who has the last laugh.

Our 300 million private guns did nothing to stop the Mexodus and having to “Press One for English”.

We are “fortunate” in that Latinos are more compatible with our culture than Muslims, but all it takes is looking at a police blotter or the racial mix in a prison to see who is committing a disproportionate number of crimes.

The only ones having the last laugh are the globalist billionaires, both in America and in Europe. They want immigrants and they are getting the immigrants. And now our North American PTB have decided that they too want to add Muslims to the mix. And don’t complain about them blaring the calls to prayer from the new mosque in your neighborhood, because that’s racist.

Comment by Southern Poverty Call Center
2016-01-03 13:35:19

Islam is a religion not an ethnicity, but yeah, you’re still a racist.

 
 
Comment by Raymond K Hessel
2016-01-03 11:23:44

Rand Paul calls for a real audit of the Fed (proposed by Ron Paul in 2010 but then derailed by Sen. Bernie Sanders) and exposes Ted Cruz’s support for the Wall Street bailout and endless “stimulus” that only benefits Cruz’s Wall Street puppet masters.

http://www.businessinsider.com/rand-paul-heres-why-we-should-audit-the-fed-2015-12

 
Comment by Bill, just South of Irvine
2016-01-03 12:03:46

Vacate the banks and vacate the vote. Ignore the sociopaths who want to rule over others. Grow a set of balls. Fractional reserve is a big ripoff that plunders the world. Starve the beast.

Comment by Raymond K Hessel
2016-01-03 12:34:11

When 95% of the population are stupid, your words, while admirable, are pearls before swine.

Comment by Mr. Banker
2016-01-03 12:50:39

Ninety-five percent of the American population are useful idiots.

Very useful idiots. As for this Bill guy (this Bill = Win guy) a mere speed bump, something to be (slowly) run over.

 
 
 
Comment by azdude
2016-01-03 12:33:41

BUY FANG

 
Comment by Combotechie
2016-01-03 12:34:28

For a thousand bucks a month you can live in a shipping container in Phoenix.

https://www.yahoo.com/news/1-000-phoenix-residents-live-180009189.html

Comment by azdude
2016-01-03 12:45:45

Seems reasonable to be.

Why dont the homeless folks dig underground shelters?

We did that as kids. We had underground forts. It would give u a place to sleep and some security.

The homeless camping and protesting at city hall in sacramento have been told to leave and some arrested.

There are a lot of people camping in the woods along the american river in sacramento. With the new arena opening next year they are trying to get these folks out. Residents are concerned about their home values.

Comment by Combotechie
2016-01-03 13:38:32

“Why don’t the homeless folks dig underground shelters?”

A short video:

Homeless in Poland go underground

https://m.youtube.com/watch?v=e42P7LzLvys

Comment by Combotechie
2016-01-03 14:05:16

Living underground in Austrailia

https://m.youtube.com/watch?v=5zGx3HnCFTo

Note at the end of the video the comments made about solar and coal.

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Comment by Combotechie
2016-01-03 14:11:52
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Comment by Bill, just South of Irvine
2016-01-03 15:05:32

My two bedroom two bathroom, full kitchen and full laundry apartment was about 1000 square feet and cost me $1100 per month. Better deal than a shipping container.

 
 
Comment by Combotechie
2016-01-03 12:39:11

For only four-thousand dollars a WEEK you can live in a water tower at Sunset Beach, CA.

http://www.calcoasthomes.com/wtower.html

 
Comment by CalifoH20
2016-01-03 12:39:53

Big bad el nino starts tonight. Get ready for mudslides. I would no want to live in La Conchita or Malibu this season. Renters are free of risk.

The morons in OR, sure have not thought out their plan. Got food, water? Sewer? Heat? Beer? Women?

Comment by Combotechie
2016-01-03 13:50:59
 
 
 
Comment by SUGuy
2016-01-03 12:45:19

The other question that I have is
What did decent, hardworking Americans who go to work every day, pay their taxes, raise families and are looking for a stable happy family life which they had in the past. What have they done wrong to the Democratic and Republican parties that these hard working Americans are hated by being financially punished and the way of decent life they had is being eroded by both parties.

The actions of both parties towards Americans shows this fool proof.

I hear and feel the disappointment, anger, sadness, anxiety, hopelessness they feel. Some of these Americans have 200 employee companies. They are so angry that in their moment of anger they will threaten to leave the country.

So my question to all the pro Hillary people is this

WHAT DO YOU WANT ME TO TELL THESE AMERICANS????

Comment by azdude
2016-01-03 13:27:14

get a govt job or work on wall street?

 
Comment by Mr. Banker
2016-01-03 13:30:03

Tell them to refinance.

 
Comment by MightyMike
2016-01-03 13:33:11

I would think that most people who own companies with hundreds of employees are probably doing OK.

Comment by rms
2016-01-04 01:06:58

It’s all relative, e.g., if you owned a Beechcraft King Air 350 you’d probably want a Gulfstream G400.

 
 
Comment by CalifoH20
2016-01-03 16:23:42

Buy a house now before rates go up. Then rent out all the rooms on AIRBNB.

Comment by Mafia Blocks
2016-01-03 19:08:04

Why buy a rapidly depreciating asset when you can rent it for half the monthly cost?

Comment by CalifoH20
2016-01-03 20:04:45

What if you cant?

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Comment by MightyMike
2016-01-03 13:25:58

Teen birth rates plunge to record low

Teen births in the US plunged by 9 percent from 2013 to 2014, hitting a record low, the National Center for Health Statistics reported Wednesday. The one-year drop builds on a long trend: Since 1991, teen births have fallen by 61 percent.

“It’s a true national success story on an issue that many once considered intractable and unsolvable,” said Bill Albert of the National Campaign to Prevent Teen and Unplanned Pregnancy.

Progress in cutting down teen pregnancy “has been both wide and deep — significant declines in all 50 states, and among all racial and ethnic groups,” Alpert said. “If there has been more progress on a challenging social issue, I don’t know what it is.”

http://www.statnews.com/2015/12/23/20367/

Comment by Mafia Blocks
2016-01-03 14:15:38

Housing SnowFlake housing!

Aurora, CO Housing Prices Collapse 33% YoY; Inventory Skyrockets 229%

http://www.movoto.com/aurora-co/market-trends/

Comment by MightyMike
2016-01-03 14:49:44

Those are list prices that fell so much. You should know to consider what houses actually sold for, not list prices.

Comment by azdude
2016-01-03 15:11:16

the data looks bullish. High prices are good for tax revenue.

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Comment by Mafia Blocks
2016-01-03 15:38:27

Falling prices are always bullish.

Remember….. nothing accelerates the economy and raises the standard of living like falling prices to dramatically lower and more affordable levels…… Nothing.

Allen, TX Housing Prices Crater 20% YoY

http://www.movoto.com/allen-tx/market-trends/

 
Comment by azdude
2016-01-03 16:33:19

Do u believe in unicorns?

“Start a company (or idea) and make the rounds to get funded first – net profits are a trivial after thought. And for some they were an outright theory altogether. Then if you’re successful (i.e., you haven’t burned through all your start-up cash) turn your sagging or profitless business into a “We’re killing it!” fairy tale using Non-GAAP accounting. Once steps one and two are complete – IPO, cash out, and buy an island, yacht, McMansion, and more with the proceeds. Boom – done – next!!!”

http://davidstockmanscontracorner.com/silicon-valley-update-here-comes-defcon-1/

 
Comment by Mafia Blocks
2016-01-03 17:57:04

crushing.housing.losses.

 
Comment by MightyMike
2016-01-03 18:12:04

Another aspect of the unicorn world is that there is supposedly no shame associated with bankruptcy in Silicon Valley.

 
Comment by Mafia Blocks
2016-01-03 18:27:13

Given the rampant sex crimes in the bay area, there is no shame at all.

 
 
 
 
Comment by aNYCdj
2016-01-03 15:41:05

ending the guaranteed apartment and welfare to single mothers probably helped a lot…..and go after deadbeat loser dads.

 
 
Comment by Bill, just South of Irvine
2016-01-03 14:33:11

While you were squabbling about Romney cpversus Obama, and Trump versus Sanders, the anarcho capitalist movement has been growing. Others found they neithe need nor want any rulers and it is he end of the world as we knew it.

https://www.dollarvigilante.com/blog/2016/01/02/the-world-as-weve-known-it-might-end-in-2016-good-bring-on-the-new-free-world.html

 
Comment by azdude
2016-01-03 16:22:13

interest rates will not normalize for years folks. We got in to deep on this one.

you have to take more risk to get yield.

Comment by Blue Skye
2016-01-03 16:59:14

You go ahead. We’re not all debt donkey carry traders.

Comment by azdude
2016-01-03 17:43:15

i understand.

most folks are in cash losing money, sorry.

Comment by Bill, just South of Irvine
2016-01-03 19:19:08

cash is good for those of us not in secure jobs.

For yield choose international stock funds over U.S. stock funds.

Apartments about to go under. I would dollar cost average to REITS Such as Equity Residential. It’s yield will probably increase.

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Comment by Blue Skye
2016-01-03 20:34:27

Cash on hand is good because there are not many actually secure jobs in practice. Cash is good because it is increasing in value as deflation slashes asset prices.

Being in cash while being in debt is very much a contradiction. What Azdude wants is for his debts to make him money. Good luck.

 
 
 
 
Comment by Mafia Blocks
2016-01-03 19:10:38

…. and demand will continue to collapse as a result.

 
 
Comment by CalifoH20
2016-01-03 16:24:44

The only way Iran should get back at the Saudis is to give away their oil for free!!

 
Comment by aNYCdj
2016-01-03 16:27:07

Standing in the way, though, were the occupants of two apartments on the site. So this year, the developer turned to a lubricant that can be counted on to ease New York City tenants out of their rent-regulated units — a buyout, in this case, for $25 million in total to three tenants.

http://www.nytimes.com/2015/12/25/nyregion/new-york-builders-paying-huge-buyouts-to-tenants-in-their-way.html

 
Comment by Southern Poverty Call Center
2016-01-03 17:05:57

Digital Underground - Freaks Of The Industry:

https://www.youtube.com/watch?v=uycFiiXSO-Q

Comment by Southern Poverty Call Center
2016-01-03 17:11:28

De La Soul - Stakes Is High:

https://www.youtube.com/watch?v=sj-vPcCfQ6k

 
 
Comment by Southern Poverty Call Center
2016-01-03 18:00:50

Traffic — Shouldn’t Have Took More Than You Gave:

https://www.youtube.com/watch?v=JweZ_wzmifw

 
Comment by Southern Poverty Call Center
2016-01-03 18:30:28

the Smiths - What She Said:

https://www.youtube.com/watch?v=JDaDawR-UaU

 
Comment by Professor Bear
2016-01-04 00:55:05

Q. What is the most expedient way to stop a market crash?

A. Summarily halt all trading, and hope traders are in a more upbeat mood when the exchange is reopened.

Comment by Professor Bear
2016-01-04 00:57:49

China stock trading halted after steep drop
Published: Jan 4, 2016 2:42 a.m. ET
Circuit breaker kicks in after Shanghai falls 6.9%
Women ring in the new year at the Tokyo Stock Exchange on Monday.
By Chao Deng

Asian markets tumbled Monday on the first day of trading in 2016, with declines so steep in mainland China that authorities halted trading there for the rest of the day.

Analysts said China’s weak manufacturing data and a rapidly weakening Chinese yuan helped push the Shanghai Composite Index (SHCOMP, -6.86%) down 6.9%, its biggest decline on record for the first trading day of the year. The smaller Shenzhen Composite (399106, -8.22%) fell 8.2%.

Japan’s Nikkei Stock Average (NIK, -3.06%) was down 3%, Hong Kong’s Hang Seng Index (HSI, -2.74%) fell 2.7% and South Korea’s Kospi (SEU, -2.17%) was down 2.1%. Australia’s S&P/ASX 200 (XJO, -0.48%) fell 0.5%.

The CSI 300 (000300, -7.02%), a benchmark of the largest 300 stocks listed in Shanghai and Shenzhen, fell 7% just after 1:30 p.m. local time triggering a new circuit-break system, which took effect Monday. Chinese authorities said in December that they would halt trading for 15 minutes if the CSI 300 moves up or down by 5% or more 15 minutes before their local 3 p.m. close, in an attempt to stabilize a volatile market that plunged more than 40% during the summer.

A daily movement of at least 7% triggers a trading freeze for the rest of the day.

The circuit breaker system actually creates a downward spiral” as more investors get nervous about trying to get out before others, said Hao Hong, managing director at Bank of Communications Co. “Having this so-called system in place is actually making the selling worse.”

 
 
Comment by Raymond K Hessel
2016-01-04 19:34:02

I wonder how many Obama cronies own stock in Smith & Wesson.

http://www.businessinsider.com/smith-and-wesson-raises-guidance-2016-1

 
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