Economic pressures

[Danny B]

Growing realization of our big slide

“Banking today is like playing Russian roulette with someone else’s head,” one banker said. Review: Joris Luyendijk's 'Among the Bankers' - The Atlantic
9/28 WTO slashes global trade forecast by 39% since April – Mish The great slide.
9/28 Forget China – Japan’s economy is scarier – Standard
9/28 ‘Debt binge’ will implode world financial system – GATA
9/28 China debt could wreck the global economy – Daily Mail
9/28 Why a banking crisis in China seems unavoidable – Vox
9/28 “Now is the most treacherous time ever. I’ve never seen this before” – Zero Hedge
9/28 Federal Reserve note “dollar” is dying, but not next week – Money Metals Exchange

[Danny B]

Bank stockholders and bondholders running away

Our neighbor to the north has their own problems; "The online survey of of 1,502 Canadians conducted between Sept. 6 and Sept. 12 also found 31 per cent are already not paying their bills on time" Canadians are just $200 away from being overwhelmed by debt, new survey finds | Financial Post
"This has put the system in an unstable equilibrium: on one hand, central bankers - as even they admit - need to hand over the growth impulse over to governments, yet on the other hand, they terrified of even the smallest change to the status quo as they know they may undo some 7 years of "wealth effect" creation overnight.
How much longer can this charade continue? "
"One of the key themes that have emerged in the past year is that, having loaded up their balance sheets with tens of trillions in various assets, central banks are "running out of road."
Bridgewater Calculates How Much Time Central Banks Have Left | Zero Hedge

"Draghi’s promises and in Merkel’s strength and in the willingness of all of them to do whatever it takes to protect bank bondholders and stockholders"....
The bondholders and stockholders are running scared; http://wolfstreet.com/wp-content/upl...-week-high.png
EU Banking Mayhem, One Bank at a Time, then All at Once | Wolf Street

"It’s believed that a major war writes off all debts, and the more “cannon fodder” of different nationalities you can bring into it- the more debt you can write off…"
US: The Mega-Bubble That’s Going to Go Bust | New Eastern Outlook

9/28 IMF warns central banks could lose deflation fight – Yahoo!
9/28 Euro “might start to unravel” if collapse of Deutsche Bank – GoldCore
9/28 You better get used to negative interest rates – Casey Research You better get used to the death of banks, pension funds, hedge funds, insurance funds and retirement accounts.

[Danny B]

China problems,,,, Deutsche problems

Here is a chart that shows global wealth creation vs debt. Keep in mind that "they" believe that money printing is wealth creation; http://financialrepressionauthority....f_Envelope.jpg
Financial Repression Authority

“I’d find it earth-shatteringly surprising if we don’t have a significant problem between now and China’s leadership change” in the fall of 2017 when the 19th Party Congress convenes, said Leland Miller, China Beige Book’s president."
"It?s A Lot More Negative Than People Think" - China Beige Book Issues Stark Warning About The Economy | Zero Hedge
China bet the farm on housing as the "best bet" for storage of wealth. Most people in China can't afford to buy these houses. Wang says that housing as a store-of-value is a very bad idea; China's Richest Man Says Mainland Real Estate Is The "Biggest Bubble In History" | Zero Hedge

Jim Willie claims that the FED is doing a LOT more printing than it reports. This graph shows that it "is" printing a LOT less than other CBs http://www.zerohedge.com/sites/defau...and%20more.jpg
The FED doesn't report that it is sending $ trillions up and down the financial food chain to rescue every potential defaulter. https://www.peakprosperity.com/blog/...s-being-served

Lotsa charts on Deutsche bank. Keep in mind that their derivative book is around $ 70 trillion. There can't realistically be a bankruptcy and resolution that doesn't wipe out many other institutions. http://www.bloomberg.com/news/articl...k-in-12-charts

The ECB says that they aren't at fault for the problems in German banks; http://www.zerohedge.com/news/2016-0...fault%E2%80%9D

[Danny B]

Bogus plans from Bogus CBs

Draghi says that negative interest rates are helping everybody. The ECB just needs more time to make it all work out splendidly; Mario Draghi says everyone better off because of negative rates - Business Insider
"Notwithstanding the persistent growth shortfall, central bankers remain steadfast that their approach is working, by delivering what they call “mandate-compliant” outcomes. The Fed points to the sharp reduction of the US unemployment rate – from 10% in October 2009 to 4.9% today "
https://www.project-syndicate.org/co...-roach-2016-09
The Fed can’t be faulted for trying, argue the counter-factualists who insist that only unconventional monetary policies stood between the Great Recession and another Great Depression. The night is still young.

Freight is expected to crash from it's summer peak. Truck sales are crashing. https://mishtalk.com/2016/09/29/heav...from-year-ago/

The BOE talks about perpetual ZIRP. Bank Of England Governor Warns Of ZIRP/QE "In Perpetuity" | Zero Hedge
The IMF clearly knows that austerity is NOT the answer but, they are still forcing it on Greece; The planned destruction of Greece continues … | Bill Mitchell – billy blog

9/29 Negative interest rates threaten a new banking crisis – The Street
9/29 Negative interest rates have made everyone better off – Business Insider
9/29 Why ‘radioactive’ Deutsche Bank could go nuclear any time – Express

[Danny B]

Henry George & Fred Harrison

There is much talk about how bad things are. There is much stupid speculation on how to fix the situation. ALL this talk and speculation is contingent on those in power holding on to all of their advantages.
There is another avenue that is well known; Social Credit.. This solution is generally offered as a solution financed by taxes and borrowing. That doesn't have a chance of a snowball in hell. Our Western economy is all built on the idea of unending growth. It can not exist with a static production level.
Sharia-compliant banking doesn't NOT depend on interest. The bank partners with the entrepreneur and takes a share of the profits rather than collecting interest. This is a more stable system.
The West has executed a "color revolution" in EVERY center of Islamic banking.
There is MUCH written about debt-free money and systems like WORGL.

The rich very much like their advantages. Warren Buffet said that his secretary pays more taxes than he does. How the IRS Helps the Rich Get Richer - Bloomberg

Henry George offered some interesting answers. Fred Harrison has taken up where George left off.
"Harrison warned that there would be a two-year explosive growth in prices and property speculation before the market imploded in the winter of 2007/08 with heavy damage to the financial markets. As shown by the 2008 subprime mortgage crisis, he was essentially correct on all points. His prediction that the problems with debt economics and scaling would contribute to a worldwide economic depression has been borne out.
He has been widely acclaimed as the only commentator to get the timing of the 2007 recession correct. Notably, he warned Gordon Brown as far back as 1997[6] that the UK economy would hit the peak of the cycle in 2007[2] – and turn down into a depression in 2010.

According to Harrison, economists erroneously "assume that the health of the property market depends upon the condition of the rest of the economy. In fact ... property is the key factor that shapes the business cycle, not the other way around."[8]

In 2009, Dirk Bezemer, a Professor of Economics at the University of Groningen in the Netherlands, pointed out that Fred Harrison was the first and earliest economist to have predicted the global financial crisis, as far back as 1997,
Both in the UK and worldwide, until 2008 most media commentators and economic theorists dubbed him the 'Prophet of Doom'[2] and his pragmatic approach was rebuffed in favour of mainstream assertions that the "new economy" was destined to sustain growth.[9] Some niche media outlets agreed with his thesis and continued to publish his work. His books are widely distributed. With the collapse of the US and UK banks in 2008, some elements of the media began to reconsider his ideas,[

In 2015, Harrison published the first of a trilogy of Handbooks on Humanity. He integrated cultural studies with economic theory to test hypotheses that seek to explain why governments persist with sub-optimal fiscal policies.[12] Harrison concludes that western ("neo-liberal") culture has been shaped by rent-seeking to deliver sub-optimum outcomes through tax policies that have the permanent effect of mal-distributing income and retarding economic growth.
https://en.wikipedia.org/wiki/Fred_H...n_%28author%29

https://www.youtube.com/watch?v=uG3MyE16WBQ

George; https://www.youtube.com/watch?v=VX5j7BOqoa8

[aljhoa]

George; https://www.youtube.com/watch?v=VX5j7BOqoa8

What is a land patent on real estate?

United States Land Patents, 1788-2012



Al

[Danny B]

Pitchforks for plutocrats. Death spiral of Deutsche bank

Along with the proposed Georgian land tax, there have been proposals for a tax on financial transactions,,, Tobin Tax
Tobin Tax Definition | Investopedia
The VERY rich are starting to notice that things are going from bad to worse. The billionaire, Nick Hanauer has said that soon the pitchforks and torches will come out.
"The Pitchforks Are Coming… For Us Plutocrats … Memo: From Nick Hanauer To: My Fellow Zillionaires … You probably don't know me, but like you I am one of those .01%ers, a proud and unapologetic capitalist. I have founded, co-founded and funded more than 30 companies across a range of industries—from itsy-bitsy ones like the night club I started in my 20s to giant ones like Amazon.com, for which I was the first nonfamily investor."
An Unfortunate Politico Promotion? | The Daily Bell

Julian Robertson has predicted that the crash will start in the bond market and spread out;
Hedge fund legend Steve Cohen is recruiting young trading talent in London and Asia - Yahoo Finance
140210505.html

9/30 Yellen says Fed buying stocks is “a good thing to think about” – Zero Hedge It didn't work for Kuroda of Japan so, obviously, Yellen is going to try it.
9/30 “People are mad” – Dave Collum warns “existential change is in the air” – Zero Hedge Change has been in the air for quite some time. It's just that now, the air is quite noxious and stifling.
9/30 Deutsche Bank hedge fund clients withdraw excess cash – Zero Hedge A bank run by any other name is still a bank run.
9/30 The world’s economic system failing fast – Daily Bell I told them 1 1/2 years ago that this was happening. They disagreed. I wrote back, " Rome wasn't destroyed in a day".
9/30 Deutsche Bank falls 8% in early Friday Frankfurt trading – Bloomberg A paperless bank run.
The Run Begins: Deutsche Bank Hedge Fund Clients Withdraw Excess Cash | Zero Hedge

Getting your cash out in time; I’m in Awe of How Fast Deutsche Bank is Falling Apart | Wolf Street
Deutsche Bank is counterparty to 55 *trillion* euros of derivatives ...
Moody's downgrades Deutsche Bank's ratings (senior debt to Baa2
What about the counterparties to the securities at Deutsche bank? http://www.bib.eu/content/1/0/6/0/2/...2016.03.17.pdf
What about the counterparties to these people?
senior debt to Baa2 For many investment firms, they are forced by their charters to withdraw from any corporation with a rating this low. The contagion from a bank run this large will spread all around.

[Danny B]

Still falling apart

The FED desperately wants to raise interest rates. What happens of they go to the historical average of 5%?
"Lastly, to give you an idea just how insane our $402 billion of annual interest expense is, let’s look at the following figures below:

2015 U.S. Govt Outlays

Food Assistance = $104 billion
Education = $70 billion
Housing & Community = $63 billion
Internal Affairs = $41 billion
Energy & Environment = $39 billion
Unemployment = $36 billion
Transportation = $26 billion
Total = $379 billion

If we total all the U.S. Federal Govt outlays above from Food Assistance to Transportation, it equaled $379 billion in 2015. The U.S. Govt forked out more money just to service its debt last year than it did in all eight government sectors shown above."
https://srsroccoreport.com/must-see-...s-gold-silver/
The FED is getting prepared for something; Just Spotted In Front Of The New York Fed | Zero Hedge

All that hot money floating around has a huge amount control of the futures markets; The Biggest Scandal | SilverSeek.com
The speculators are making all the money. NOT the actual producers. In America, the egg market does not allow speculation. If you buy a future load of eggs, you must pay a 10% penalty for non-delivery. If this was applied to all markets, it would cut prices WAY down.

Gold has given a better return than Berkshire Hathaway. GOV must continually disparage gold to keep people in the markets where they can be robbed. Why Krugman, Roubini, Rogoff And Buffett Dislike Gold

10/01 Near ‘collapse,” Minnesota to raise Obamacare rates by half – Bloomberg That will undoubtedly fix everything.

[Danny B]

SDR substitution fund

I guess that we are going to hear a LOT more about special drawing rights. The Chinese Yuan was just added to the basket of currencies that comprise the SDR. It has become obvious that an un-backed dollar as a reserve currency just won't work. We are moving to a brave new world where; the unbacked yuan joins the unbacked yen, the unbacked dollar and the unbacked Pound to be a "backing" for the un-baked SDR.

"‘The brilliance of the SDR solution is that it solves Triffin’s dilemma. Recall that
the paradox is that the reserve-currency issuer has to run trade deficits, but if you run deficits long enough, you go broke. But SDRs are issued by the IMF. The IMF is not a country and does not have a trade deficit. In theory, the IMF can print SDRs forever and never go broke. The SDRs just go round and round among the IMF members in a closed circuit. "
" These countries have no desire to break the new SDR system,
because they’re all in it together. The United States is no longer the boss. Instead, you have the “Five Families” consisting of China, Japan, the United States, Europe and Russia operating through the IMF. The only losers are the citizens of the IMF member countries—people like you and me—who will suffer local-currency infla-tion."

It's well known and well proved that the transactional currency can not be the same as the store of value currency. The SDR would get around that. This puts the SDR in competition with gold.
I see all of this as being a "bridge too far". There is a lot of speculation how this is going to work out. https://www.imf.org/external/np/sec/memdir/members.aspx
http://www.uni-heidelberg.de/md/awi/...26.08.2013.pdf

The Euro is failing because it locks all of it's member States into a single currency system even though their levels of productivity vary considerably.
The SDR would lock everybody into the same reserve system even though they could be created at will. This is definitely a bad recipe. China has initiated much of the revival of the SDR to get away from the dollar. This was before they bubbleized their banking system beyond all reason. It is impossible (for me) to give any prediction of how the dynamics of this would work out.

[Danny B]

What would be the fallout from sovereign default?

The world economy is collapsing mostly because of corruption, falling wages and rising automation. The State GOV is going broke at all levels. The SDR is "backed" by sovereign governments. What happens when sovereign GOVs are insolvent and no longer able to pay?
https://www.milesfranklin.com/inevit...debt-collapse/

https://www.armstrongeconomics.com/u...n-debt-crisis/

https://www.armstrongeconomics.com/w...debt-crisis-2/
Make no mistake, many States around the world are in serious competition. We talk of war with Russia and China. We are already in cyber-war with many States. What kind of economic cooperation are we going to have? When the sovereign debt collapse hits, every leader is going to worry first and foremost about feeding HIS countrymen.
Martin Armstrong On "The Coming Dark Age" | Zero Hedge

Everybody is worried but, nobody knows for certain what will blow first. We're Issuing a Formal Alert: Something Major is Coming in the Markets

Walter Burien shows that 45,000 GOV agencies have MANY $ trillions in cash and investments stashed away. http://www.cafr1.com/
Will this liquidity come into play? Is it actually available? Have the banks vaporized it. Will they take it if a bail-in is deemed necessary?
I haven't a clue.

[Danny B]

Promoting bank runs

Much of what was taught in schools of economic planning was only marginally applicable up until about 50 years ago. There were plenty of collapses but, they were fairly predictable with what economists already knew. Times have changed. We have instant global capital flows, global wage arbitrage, containerized shipping, birth control, automation, etc. The old, barely applicable rules are of no use now. Many of the fundamentals are still in force though.
Here is an article of total BS citing Alvin Hansen and Kark Marx. "The Only Way Out Is Creative Destruction" Sinn Fears "Self-Inflicted Malaise" | Zero Hedge
Why do people write such tripe?

"In a traditional bank run, perceptions of the bank drive depositors to withdraw from the bank’s vault of money and cash rather than trust that the bank can meet all withdrawals, sticking the depositor with some unknown scale of loss. The intensity of the run, really illiquidity, is driven by further rumors about the bank’s position. At some point, the withdrawals themselves just confirm the negative perceptions, thus locking the bank into a downward spiral toward failure."
"Deutsche Bank stands at the center of the European financial system - it is a major counterpart of all relevant European banks, and broader."

"This is where Deutsche Bank is very different from Lehman, and far riskier, because if the institutional panic spreads to the depositor base, which as the table below shows amounts to some €566 billion in total, and €307 billion in retail deposits...... then all bets are off."
"3. or implement a bail-in, eliminating billions in unsecured claims (and deposits) and leading to a full-blown systemic bank run as depositors everywhere rush to withdraw their savings, leading to a collapse of the fractional reserve banking mode (in which there is only 10 cents in physical deliverable cash for every dollar in depositor claims).

Which of the four choices Deutsche Bank will pick should become clear in the coming days."
This Is How Much Liquidity Deutsche Bank Has At This Moment, And What Happens Next | Zero Hedge
This report was produced by Goldman Sachs.

"The head of Germany's financial regulator warned on Saturday of "negative perceptions that could lead to downward spirals on the markets", at the end of a week that saw Deutsche Bank shares battered by a crisis of confidence. Felix Hufeld,
But he said: "I warn people not to let themselves be drawn into a kind of downward spiral of negative perception. Not every nervous market reaction is backed by objective facts."

Roughly translated as "Don't panic, we have everything contained." Now where have we heard that before?"
This report was brought to you by J.P. Morgan It seems that they want to create a run on European banks.
According To JPMorgan, This Is The Biggest Risk Facing Deutsche Bank At This Point | Zero Hedge

Putting gasoline in the radiator.
“A new report issued by the Swiss bank Credit Suisse finds that global wealth inequality continues to worsen and has reached a new milestone, with the top 1 percent owning more of the world’s assets than the bottom 99 percent combined.

Of the estimated $250 trillion in global assets, the top 1 percent owned almost exactly 50 percent, while the bottom 50 percent of humanity owned collectively less than 1 percent. The richest 10 percent owned 87.7 percent of the world’s wealth, leaving 12.3 percent for the bottom 90 percent of the population.” (“Top 1 percent own more than half of world’s wealth“,
The Biggest Heist In Human History | Zero Hedge

Three Reasons Why The Banking System Is Rigged Against You | Zero Hedge

Jim Rogers is smoking loco-weed; https://www.rt.com/op-edge/361317-chinese-yuan-imf-sdr/
Max Keiser; https://www.rt.com/news/348307-keise...emic-collapse/
"Even gold is not as secure as un-hackable Bitcoin currency - Bitcoin Foundation CEO " Let me know when you get an un-hackable bitcoin.

[Danny B]

A lot more GOV debt than advertised

The FED, the president's working group on markets, and the exchange stabilization fund, collectively known as the FED, PPT and ESF have been pumping vast amounts of currency into the markets. They try to make up for huge amounts of legitimate commerce that just isn't happening. These three have been operating fairly quietly. They don't want any slips in confidence. But, they have left their tracks in the budget numbers.
"Since 2003, the government deficits published by the Office of Management and Budget amounted to $9.26 trillion. So the Treasury should have had to borrow that much to make up the difference. But over the same period, the national debt rose by $13.3 trillion. Meaning, $4.04 trillion had gone up in smoke."

"And there’s another thing I know: our government’s accounting of what it spends and therefore the deficit numbers are BIG lies: since 2003, it admitted to an accumulated deficit of $9.26 trillion, but the national debt during that time rose by $13.3 trillion. That’s not a rounding error, but a liar margin of 43%!!" This is Why US Gov. Deficit Numbers are a BIG Lie | Wolf Street

"The State is a gang of thieves, writ large, the most immoral, grasping and unscrupulous individuals in any society. “If you have the power to print money, you’ll do it. Regardless of any ideologies or statements, that you should limit your counterfeit operations to three percent a year as the Friedmanites want to do. Basically you print it. You find reasons for it, you save banks, you save people, whatever, there are lot of reasons to print.” — Murray N. Rothbard WARNING: We Are Going To Be Living In An Incredibly Chaotic World | King World News

https://www.youtube.com/watch?v=eKqs7GJ0jdY

10/03 WSJ reports “no settlement deal” between Detusche, DOJ – Zero Hedge The "fix" is in and GS and JP will make a killing shorting Detucshe Bank.
10/03 Meanwhile, Saudi stocks crash near 7 year lows – Zero Hedge
10/03 Global bond markets shackled to Japan by Kuroda’s 0% quest – Bloomberg Yep, lowest common denominator is dragging down everybody.
10/03 SDR poised to become de facto global reserve currency – Business Insider
10/03 Yuan becomes world’s fifth reserve currency, can bitcoin be sixth? – Coin Telegraph Wait until the bond markets blow and see what the reserve currency is. Au

10/03 Pentagon caught paying PR firm $540 million to make fake terrorist videos – Activity Post And people wonder why the military budget is so high.
10/03 Christine Lagarde, scourge of tax evaders, pays no tax – Guardian She is a criminal, she isn't stupid.

[Danny B]

The flambe of Deutsche bank

Deutsche bank has reduced their derivative exposure from $71 trillion to just $55 trillion. BUT, the big American banks smell blood and they are trying to create a death spiral of bad news, more withdrawals, bad news.
10/03 Systemic risk: Deutsche Bank #1 at $100 billion – Mish
10/03 How arrogant Deutsche Bank fell from grace – MarketWatch
10/03 Deutsche Bank received US bailout twice as big as Lehmans – Wall St. On Parade Lehman received a bailout BUT, Treasury sec Paulson was from Goldman Sachs and he later locked Lehman OUT of access to their capital that they wanted to liquidate to stay alive. GS was happy to kill Lehman and take the best parts real cheap.

10/03 Deutsche Bank shares slip again in race to reach U.S. settlement – Reuters The proposed settlement amount is $ 14 billion. They don't have it. Every day that goes by sees their capital base falling. GS/U.S. regulators can stall until death. By now, the shorts have taken positions. EVERYONE will join in.
Merkel did exactly the wrong thing with the Greek crisis.
Merkel did exactly the wrong thing with the muslim influx.
There is a good chance that she will do the wrong thing for Deutsche bank.

[Danny B]

Couple of good graphs

http://kingworldnews.com/wp-content/...-I-9282016.jpg
http://kingworldnews.com/wp-content/...II-9302016.jpg
As The Monetary Madness Continues, Here Is A Dire Warning | King World News
“Inflation makes it possible for some people to get rich by speculation and windfall instead of by hard work. It rewards gambling and penalizes thrift. It conceals and encourages waste and inefficiency in production. It finally tends to demoralize the whole community. It promotes speculation, gambling, squandering, luxury, envy, resentment, discontent, corruption, crime, and increasing drift toward more intervention which may end in dictatorship.” — Henry Hazlitt"

The gold bugs are all talking DOOM.

[Danny B]

The CB is the greater fool that everybody depends on.

The banks should have crashed in '08. The FED/GOV didn't want them to fall so, they pumped in money.
"No, the great Pyrrhic victory of the Fed has been to enable the third most extreme financial bubble in history, on the basis of capitalization-weighted indices, and the single most extreme bubble in history from the standpoint of individual stocks."
"Every financial bubble rests on the presumption that there is still some greater fool available to purchase overvalued assets, no matter how overvalued they might become. In the recent half cycle, central banks have intentionally extended this speculation by promising that they, themselves, could be relied upon to be those greater fools. "
"central banks (whose activist interventions have essentially zero correlation with subsequent real economic outcomes). "
"the bubble peak in 2000 was the most extreme level of valuation in history on a capitalization-weighted basis, the recent speculative episode has actually exceeded that bubble"
Hussman Funds - Weekly Market Comment: Sizing Up the Bubble - October 3, 2016
Stocks have gone to nosebleed heights. When they fall, they will fall a LONG way.

"Delinquencies of 60 days and higher among subprime auto ABS increased by 22% year-over-year in August, Fitch Ratings reported on Friday – now amounting to 4.9% of the outstanding balances that Fitch tracks and rates. And subprime annualized losses increased by 27% year-over-year, reaching 8.9% of the outstanding balances of auto ABS." "And according to Fitch, the toxicity level in the subprime auto ABS space isgoing to rise, with “subprime auto losses to pierce 10% by year-end.” "they hit $1.07 trillion"
Subprime Auto-Loan Backed Securities Turn Toxic | Wolf Street
These loans were sliced and diced and re-sold to investors like pension funds.

Good article from John Perkins, "They’re not allowed to impose tariffs under the trade agreements—NAFTA and CAFTA—but the U.S. is allowed to subsidize its farmers. Those governments can’t afford to subsidize their farmers. So our farmers can undercut theirs, and that’s destroyed the economies, and a number of other things, and that’s why we’ve got immigration problems."
More Confessions Of An Economic Hit Man: "This Time, They?re Coming For Your Democracy" | Zero Hedge

There is a U.S.---EU war of fining each other; https://www.rt.com/business/361419-d...-economic-war/

“Looking at the current average price [of real estate] and personal income in Shenzhen, it would take an average person more than 1,200 months—that is, 100 years—of not eating or drinking to afford a 90 square-meter house,”
Bubble Watch: Experts Sound Alarm on Chinese Real Estate
Maybe real estate isn't such a good store of value after all.

The gold manipulations go on and on; http://kingworldnews.com/andrew-magu...-market-today/