NC Renegades

Explosions and implosions have become an everyday occurrence of late in Asia.

Midway through the month the explosion of carry trades stemming from China’s devaluation of the yuan resulted in an untold number of “casualties” (figuratively speaking). Two days later, a tragic explosion at the Chinese port of Tianjin took the lives of 121 people and injured over 700 more. Next, Sakurajima threatened to erupt in Japan triggering fears of a nuclear meltdown at Sendai. Then, the Malaysian ringgit imploded along with trade in Indonesia and finally, on Saturday, a second chemical explosion rocked China killing one worker at a plant in Shandong.

On Sunday we got another fiery blast from the East, this time emanating from a US Military Base near Sagamihara, Japan.

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Three weeks ago, when we last looked at the collapse in trade along what may be the most trafficked route involving China, i.e., from Asia to Northern Europe, we noted that while that particular shipping freight rate Europe had crashed some 23% on just one week, there was some good news: at least the Baltic Dry index was still inexplicably rising, and at last check it was hovering just above 1,100.

That is no longer the case, and just as with everything else in recent months, the Baltic Dry dead cat bounce is now over, with the BDIY topping out just above 1200 on August 4, and now back in triple digit territory, rapidly sliding back to the reality of recent record lows which a few months ago we suggested hinted that much more is wrong with global trade, and the global economy, than artificially manipulated stock markets would admit.

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1000 divided by 40 hours is 25 weeks. However, this may be a good thing since he is not doing any harm on the golf course. That assumes that he actually is the mastermind behind the transformation of the Republic into a dictatorship.

David DeGerolamo

Many Blacks hate, or at best resent white people. We hear the term white supremacy thrown around like a hand grenade by the race baiters. It seems that blacks en masse never notice that they have been provided more opportunities in the United States than in any other nation in the world. If blacks think they are being ill-treated here—perhaps they should take a peek into a National Geographic magazine or look on the internet at the plight of their brethren in Africa. Genocide in tribal conflicts, disease, poverty, illiteracy, and starvation are commonplace in much of sub-Saharan Africa. Of the twenty poorest countries in the world, the top ten are located in sub-Saharan Africa. The poorest black people in America are still light years ahead of their African brethren regarding health care, income, material possessions, and government assistance. Rarely does a black American expatriate to Africa: Thailand, Costa Rica, New Zealand maybe—but they don’t want to return to their ancestral home. Many American blacks flaunt their African heritage—but, they are as physically aligned with their African brethren as East is to West.

From the shoes on their feet to the television sets they own, and everything in between, blacks who despise white Europeans have them to thank for their toys. Without the intervention (and inventions) of colonialism in Africa (for good or bad), sub-Saharan Africa would still be stuck in the Stone Age. The en masse contributions of the black race to human civilization have been largely unremarkable and quite frankly, completely negligible (sports and rap music are not contributions). Yes, there have been and are brilliant blacks who have contributed to the arts and sciences—but, when considering the entire black community, they are as rare as valuable pearls in fresh water.

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This is a screenshot of dump1090, running on a laptop using Kubuntu, a Linux operating system.

All the software is free.  All you need to do is find a decent used PC at a pawn shop or flea market, and purchase a $20 RTL-SDR dongle.

This gives you the ability to watch the skies and see what’s flying above you.

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Since the 14th amendment was not ratified legally, the solution is simple: do not follow unConstitutional laws.

David DeGerolamo

I really fear for the unwind of the “global government finance Bubble” – the grand finale of a multi-decade period of serial Bubbles. It’s history’s first systemic global Bubble, encompassing the world’s Credit systems, securities markets and monetary systems more generally. Excesses have engulfed the heart of “money” and Credit throughout both the “developing” and “developed” world. Central banks (of all stripes) have printed Trillions of “money” and Trillions more have been created in the process of leveraging securities and other assets. This type of monetary inflation invariably incentivizes destabilizing speculation, fraud, malfeasance and wealth redistribution. It’s fomented a geopolitical tinderbox.

I allow my mind to imagine the type and poor quality of assets on (bloated) Chinese, Brazilian, Russian, Asian and EM bank balance sheets – yet it’s surely a lot worse. I ponder how desperate governments will use their state directed lenders to stimulate and obfuscate – and then I contemplate the scope of future government bailouts. On a global basis, I believe there is today more speculative leverage in global currencies and securities markets than ever – and I fear my bearish imagination might only scratch the surface. There have been too many years of financial manipulation, innovation, experimentation and exploitation – on an unprecedented globalized scale.

To be sure, the past three years of global do “whatever it takes” central banking exacerbated “Terminal Phase” excess virtually everywhere. Central bank mores, practices and principles – tested and trusted over generations – were handily discarded in favor of New Age experimental monetary inflation. Speculative markets reveled accordingly.

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Up to 1,000 protesters have clashed with police in eastern Germany in riots reportedly sparked by the arrival of 250 migrants.

Police said protesters shouting “foreigners out” and carrying banners against the “asylum flood” threw bottles and stones at busloads of asylum seekers arriving in Heidenau, near Dresden.

At least 31 officers were hurt in violent scuffles as police used tear gas to disperse crowds.

Peaceful demonstrations began after news spread that the town was welcoming a large number of refugees who are set to be housed in an empty building.

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We witnessed something truly historic happen on Friday.  The Dow Jones Industrial Average plummeted 530 points, and that followed a 358 point crash on Thursday.  When you add those two days together, the total two day stock market crash that we just witnessed comes to a grand total of 888 points, which is larger than any one day stock market crash in U.S. history.  It is also interesting to note that this 888 point crash comes in the 8th month of our calendar.  Perhaps that is just a coincidence, and perhaps it is not.  It just struck me as being noteworthy.  This is the first time that the Dow has dropped by more than 300 points on two consecutive days since November 2008, and we all remember what was happening back then.  Overall, this was the worst week for the Dow in four years, and there have only been five other months throughout historywhen the Dow has fallen by more than a thousand points (the most recent being October 2008).  Of course we still have six more trading days left in August, so there is plenty of time remaining for even more carnage.

By itself, the 530 point plunge on Friday was the ninth worst stock market crash in all of U.S. history.  The following list of the top eight comes from Wikipedia…

#1 2008-09-29 −777.68

#2 2008-10-15 −733.08

#3 2001-09-17 −684.81

#4 2008-12-01 −679.95

#5 2008-10-09 −678.91

#6 2011-08-08 −634.76

#7 2000-04-14 −617.77

#8 1997-10-27 −554.26

Another very interesting thing to note is that the largest stock market crash in U.S. history took place on the very last day of the Shemitah year of 2008, and now we are less than a month away from the end of this current Shemitah year.

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A new NRA-backed bill would encourage states to share information on the “mentally ill” with the federal background check system for gun sales.

NRA A+ rated Sen. John Cornyn of Texas introduced the Mental Health and Safe Communities Act two weeks ago, after several mass shootings that made news earlier this summer.

The bill would increase federal law enforcement grants to states that choose to share “at least 90 percent” of their records on people with serious mental problems with the federal background check database. States that refuse to share such information could also face penalties.

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FREEMANSPERSPECTIVE

Call me a businessman if you like; an entrepreneur, a capitalist even… but I am not a Ferengi, dedicated to grabbing as much of your money as I can, however I can.

If that was all I wanted, I’d be exploiting Washington and Wall Street, or maybe I’d see if I could wriggle my way into central banking.

And just in case some of you are not familiar with the term, the Ferengi are a fictional race of aliens in the Star Trek universe. They are characterized by a completely amoral obsession with profit. Here, to illustrate, are a few of their Rules of Acquisition:

The best deal is the one that makes the most profit.

Anything worth doing is worth doing for money.

A deal is a deal (is a deal)… until a better one comes along.

Expand or die.

Learn the customer’s weaknesses, so that you can better take advantage of him.

The reason I bring this up is that I have, for too many years, heard people repeating the slogan, “The job of a company’s management is to maximize profit for the stockholders.” If you want to define “profit” more broadly than currency units, the statement is okay, but I’ve very seldom heard it used that way.

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