Stock Market Crash 2016: This Is the Worst Start to a Year for Stocks Ever

We have never had a year start the way that 2016 has started. In the U.S., the Dow Jones Industrial Average and the S&P 500 have both posted their worst four-day starts to a year ever. Canadian stocks are now down 21 percent since September, and it has been an absolute bloodbath in Europe over the past four days. Of course the primary catalyst for all of this is what has been going on in China. There has been an emergency suspension of trading in China two times within the past four days, and nobody is quite certain what is going to happen next. Eventually this wave of panic selling will settle down, but that won’t mean that this crisis will be over. In fact, what is coming is going to be much worse than what we have already seen.

On Thursday I was doing a show with some friends, and we were amazed that stocks just seemed to keep falling and falling and falling. The Dow closed down 392 points, and the NASDAQ got absolutely slammed. At this point, the Dow and the NASDAQ are both officially in “correction territory”, and some of the talking heads on television are warning that this could be the beginning of a “bear market”. But of course some of the other “experts” are insisting that this is just a temporary bump in the road.

But what everyone can agree on is that we have never seen a start to a year like this one. The following comes from CNN…

The global market freakout of 2016 just got worse.

The latest scare came on Thursday as China’s stock market crashed 7% overnight and crude oil plummeted to the lowest level in more than 12 years.

The Dow dropped 392 points on Thursday. The S&P 500 fell 2.4%, while the Nasdaq tumbled 3%.

The wave of selling has knocked the Dow down 911 points, or more than 5% so far this year. That’s the worst four-day percentage loss to start a year on record, according to FactSet stats that go back to 1897.

When CNN starts sounding like The Economic Collapse Blog, you know that things are really bad. I particularly like their use of the phrase “global market freakout”. I might have to borrow that one.

Even some of the biggest and most trusted stocks are plummeting. For instance, Apple dropped to $96.45 on Thursday. It is now down a total of 28 percent since hitting a record high of more than 134 dollars a share back in April.

So that means that if someone put all of their retirement money into Apple stock last April (which may have seemed like a really good idea at that time), by now more than one-fourth of that money is gone.

For months, I have been warning that the exact same patterns that we witnessed just prior to the great stock market crash of 2008 were happening again. To me, the parallels between 2008 and 2015/2016 were just uncanny. And now other very prominent names are making similar comparisons. According to the Washington Post, George Soros says that the way this new crisis is unfolding “reminds me of the crisis we had in 2008″…

Influential investor George Soros said that China had a “major adjustment problem” on its hands. “I would say it amounts to a crisis,” he told an economic forum in Sri Lanka, according to Bloomberg News. “When I look at the financial markets, there is a serious challenge which reminds me of the crisis we had in 2008.”

Don’t get me wrong – I am certainly not a supporter of George Soros. My point is that we are starting to hear a lot of really ominous talk from a lot of different directions. All over the world, people are starting to understand that the next great financial crisis is already here.

As I write this tonight, I just feel quite a bit of sadness. A lot of hard working people are going to lose a lot of money this year, and that includes people that I know personally. I wish that my voice had been clearer and louder. I wish that I could have done more to get people to understand what was coming. I wish that my warnings could have made more of a difference.

I just think about how I would feel if everything that I had worked for all my life was suddenly wiped out. And that is what is going to end up happening to some of these people. When you lose everything, it can be absolutely debilitating.

You only make money in the markets if you get out in time. And unfortunately, most of the general population will be like deer in the headlights and won’t know which way to move.

There will be up days for the markets in our near future. But don’t be fooled by them. It is important to remember that some of the greatest up days in U.S. stock market history were right in the middle of the stock market crash of 2008. So don’t let a rally fool you into thinking that the crisis is over.

The financial crisis that began in the second half of 2015 is now accelerating, and everything that we have witnessed over the past few days is just a natural extension of what has already been happening.

Personally, I am just really looking forward to this weekend when I will hopefully get caught up on some rest. Plus, my Washington Redskins will be hosting a playoff game on Sunday, and if they find a way to win that game that will put me in a particularly positive mood.

It is good to enjoy these simple pleasures while we still can. Unprecedented chaos is coming this year, and we are all going to need strength and courage for what is ahead. (For more from the author of “Stock Market Crash 2016: This Is the Worst Start to a Year for Stocks Ever” please click HERE)

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Conservatives Agree Standoff in Oregon Elevates Debate on Federal Land Ownership

As protesters continue to engage in a standoff against the government at the Malheur National Wildlife Refuge, conservatives agree the events have elevated the debate over federal land ownership.

But, lawmakers stop short of endorsing the actions of the protesters occupying a federal building located south of Burns, Ore.

“It’s brought attention to a problem issue,” Rep. Louie Gohmert, R-Texas, told The Daily Signal. “I’m not an advocate of trespassing, taking over federal property, but now that they’ve brought attention to the issue, they don’t need to be violating laws, either—local, state or federal.”

“We do need to get to the bottom of what happened to the Hammonds. It sounds very abusive,” Gohmert, chairman of the Natural Resources Subcommittee on Oversight and Investigations, continued. “We’ve got too much power in the hands of the [Bureau of Land Management], too much power in the hands of Fish and Wildlife [Service], too much power in the Department of the Interior.”

The federal government currently owns more than 630 million acres of land across the United States, and the Texas Republican warned that the federal government is beginning to creep further east in terms of the land it controls.

“If they’re doing it in the West, then eventually they’re going to come do it in the East, and people all over the country will feel the crush as the federal government takes over the land at a theater near you,” he said.

On Saturday, armed protesters took over an empty federal building located on the Malheur National Wildlife Refuge. It’s unknown how many people are in the group, called Citizens for Constitutional Freedom and led by Ammon Bundy.

Ammon Bundy’s father, Cliven Bundy, engaged in an 11-day standoff with the Bureau of Land Management in 2014.

The protesters plan to occupy the refuge until the federal government returns the land to private ownership.

Citizens for Constitutional Freedom traveled to Burns to protest the five-year prison sentence of Dwight and Steven Hammond, ranchers who were convicted of arson on federal land.

Dwight and Steven Hammond originally received three month and one year sentences, respectively, for setting fires that spread to federal land in 2001 and 2006. However, the 9th United States Circuit Court of Appeals resentenced the father and son in October and said they have to serve out a five-year sentence mandated under the Antiterrorism and Effective Death Penalty Act, the law under which they were sentenced.

The trial judge who sentenced Dwight and Steven Hammond originally said the five-year mandatory minimum for arson on federal land was excessive.

Protesters with Citizens for Constitutional Freedom oppose not only the Hammonds’ sentence, which they say is unjust, but also the government’s control of land.

The latter issue, conservatives from western states say, has been the cause of frustration for many Americans for years, particularly as they see the federal government take more land from private citizens trying to make a living and feed their families.

“The issue in the West that people here in the East don’t understand is that, in Idaho, it’s over 65 percent of our lands are owned by the federal government. It’s the same thing in most of the states in the West,” Rep. Raúl Labrador, R-Idaho, told reporters yesterday. “And what we have is frustration where you have the BLM, you have these other federal agencies that keep taking over the lands.”

In Oregon, specifically, the federal government owns 53 percent of the land, with the Bureau of Land Management managing the largest amount largest amount—more than 16 million acres— according to a 2014 report from the Congressional Research Service.

Labrador said the government’s attempts to take control of more and more land likely served as the catalyst for the current standoff in Oregon, which has so far been a peaceful takeover by Citizens for Constitutional Freedom.

“You have just a frustration that they feel the federal government is not listening to them, and that’s what leads to what so far has been a peaceful takeover of an abandoned building,” he said. Labrador continued:

I hope my colleagues who are not from the West can understand what’s happening in the West. There’s such a level of frustration with the federal government. … The laws are making it more difficult for us to enjoy the fruits of our labor and enjoy the freedoms out in the West.

Not only do lawmakers contend the protesters at the Malheur National Wildlife Refuge are voicing concerns shared by many in the West, but Rep. Steve Pearce R-N.M., said the federal government was hypocritical in its punishment of the Hammonds for employing the same techniques the government does, and damaging far more land.

According to reports, the 2001 fire set by the Hammonds, which they said they had approval from the Bureau of Land Management to start, damaged 139 acres of federal land. The 2006 backfires set by Steven Hammond destroyed one acre of federal land.

“Now keep in mind we in the West are watching the backfires that were set [by the government] exactly the way [the Hammonds] set, the backfires are burning 300,000 acres when an agency sets them. They’re burning 255 houses in my district in one 30,000 acre fire,” Pearce said. He continued:

You get people put in jail for five years for burning 130 acres that they were given permission, it looks like they were given permission to set the fire, and the agency can burn 300,000 acres and nobody is accountable.

Such hypocrisy from the government, the New Mexico Republican said, has sparked outrage from Americans living in the West.

“That’s the reason people in the West are furious,” he said. “They’re furious going into this situation. Now, I’m not taking a side on the Bundys. I think that’s a side show. I think the Hammonds are the ones who have been badly treated, and that’s what we’re expressing in the West. We’re fed up.” (For more from the author of “Conservatives Agree Standoff in Oregon Elevates Debate on Federal Land Ownership” please click HERE)

Watch a recent interview with the author below:

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Obama Says It’s a ‘Conspiracy’ He Wants to Take Away Your Guns

Stiff-armed by a Republican-led Congress, President Barack Obama took to national television Thursday night in an effort to sell stricter gun control laws to the American public.

During a town hall event televised live by CNN, the president called the suggestion that he wants to take guns away a “conspiracy.”

He said his efforts are instead a “modest” move toward curbing gun violence, which he called an epidemic in the United States.

“This is not a recipe for solving every problem,” Obama said. “The goal here is just to make progress.”

The hour-long program, called “Guns in America,” was broadcast two days after Obama delivered an emotional appeal to mitigate gun deaths through executive actions expanding background checks and investing in mental health.

CNN’s Anderson Cooper fielded questions to the president, offering an opportunity for both gun rights advocates and gun control proponents to discuss one of the nation’s most controversial issues.

In one exchange, Cooper said some Americans simply don’t trust Obama’s motives, asking the president if it was “fair to call it a conspiracy.”

“Yes, it is fair to call it a conspiracy,” Obama said. “What are you saying? Are you suggesting that the notion that we are creating a plot to take everybody’s guns away so that we can impose martial law is [not] a conspiracy? Yes, that is a conspiracy! I would hope that you would agree with that. Is that controversial?”

Taya Kyle, the widow of “American Sniper” Chris Kyle, disputed Obama’s repeated claim that increased gun control would prevent violence, saying the administration’s measures provide a “false sense of hope.”

“The thing is that the laws we create don’t stop these horrific things from happening, right? And that’s a very tough pill to swallow.”

Obama attempted to appeal to gun owners in the audience, urging them to support measures that would close background check “loopholes” so that firearms are less likely to flow into the hands of criminals.

“I respect the Second Amendment; I respect the right to bear arms,” Obama said. “But all of us can agree that it makes sense to do everything we can to keep guns out of the hands of people who would do other people harm.”

The National Rifle Association, the nation’s largest gun rights organization, declined an invitation to partake in the event. In a statement to CNN, an NRA spokesman said that the advocacy group “sees no reason to participate in a public relations spectacle orchestrated by the White House.”

The event took place at George Mason University, just 3 miles west of the NRA’s national headquarters in Fairfax, Va., a suburb of Washington, D.C.

Though the group did not send a representative in person, it remained active on Twitter to rebuke the president’s remarks.

Obama has struggled through the past seven years of his presidency to advance substantial gun control proposals, moving him to act alone Tuesday to expand federal background checks in gun sales through greater firearm licensing requirements.

The president also ordered additional FBI staff to process applications and requested $500 million to invest in mental health.

A new CNN/ORC poll released Thursday found that 67 percent of Americans back the president’s executive actions on guns, while 32 percent oppose them.

But the majority of Americans—54 percent—are against Obama using executive actions to advance his measures, while only 44 percent support his use of executive power. (For more from the author of “Obama Says It’s a ‘Conspiracy’ He Wants to Take Away Your Guns” please click HERE)

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Marine Corps Boot Camp, Job Titles to Be Gender Neutral by April

The Marine Corps has been ordered to come up with a plan to make its enlisted entry-level training coed, and to make its job titles more gender-neutral following the recent move to open all military combat roles to women.

In a Jan. 1 memo to Marine Commandant Gen. Robert Neller, Navy Secretary Ray Mabus requested a “detailed plan” on how the service will fully integrate its boot camp and Officer Candidate School. The plan is due Jan. 15 and will be implemented by April 1, the memo states.

“The Department of the Navy’s implementation plan must include gender integration of Marine Corps enlisted recruit training and officer candidate school,” Mabus wrote. “In this submission, identify where, if anywhere, this training is already integrated, where it is separate, and specific steps that you will take to fully integrate these trainings.”

In a second memo from Mabus to Neller on the same day, the SecNav directed the Marine Corps to conduct a full review of its military occupational specialty titles in an effort to ensure that they are gender neutral.

“As we achieve full integration of the force … this is an opportunity to update the position titles and descriptions themselves to demonstrate through this language that women are included in these MOSs,” Mabus wrote. “Please review the position titles throughout the Marine Corps and ensure that they are gender-integrated as well, removing ‘man’ from the titles and provide a report to me as soon as is practicable and no later than April 1, 2016.” (Read more from “Marine Corps Boot Camp, Job Titles to Be Gender Neutral by April” HERE)

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Roy Moore Just Made a Bombshell Announcement About Same-Sex Marriage Bans… People Need to Know This

Chief Justice Roy Moore issued an order today saying that a ruling issued last March by the Alabama Supreme Court remains in effect and that probate judges “have a ministerial duty not to issue any marriage license contrary” to Alabama’s law and constitutional amendment banning same-sex marriage.

In a four-page administrative order, Moore said the conflict between the state court ruling and the U.S. Supreme Court ruling in June has caused “confusion and uncertainty” among probate judges.

Moore said he issued the order today in his role as administrative head of the state court system. He quoted a state law that says the chief justice is empowered to “take affirmative and appropriate action to correct or alleviate any condition or situation adversely affecting the administration of justice within the state.”

Moore wrote that since the U.S. Supreme Court ruling that many Alabama probate judges are issuing marriage licenses to same-sex couples, while others are issuing licenses only to opposite-sex couples or not issuing licenses at all . . .

Rep. Patricia Todd, D-Birmingham, state director of the Human Rights Campaign, which advocates for civil rights for gays, lesbians and transgender people, said Moore is the one who has caused confusion for probate judges.

(Read more from “Roy Moore Just Made a Bombshell Announcement About Same-Sex Marriage Bans… People Need to Know This” HERE)

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Oregon Wildlife Refuge Protesters Dig in as Decades-Old Grievances Fester

Dwight and Steven Hammond, a father and son who own a family ranch in southern Oregon, have returned to federal prison to serve more time for setting controlled fires on federal land they were leasing, fires that spread to other federal lands. The additional prison time sparked a national outcry, with armed supporters even taking over the federal Malheur Wildlife Refuge headquarters near the Hammond’s ranch. As of this morning, they remain holed up there, while local sheriff Dave Ward is urging calm and reassuring the community that steps are being taken behind the scenes. “It takes only one unstable person to show up with a skewed belief window to create something that can’t be taken back,” he said.

The larger issue is the increasing frustration among ranchers toward the federal government for taking over so much private land in the West. The federal government now owns 28 percent of the land in the country. The percentage in the Western half of the United States is much higher than this. And that doesn’t even include land owned by state and local governments.

Land that has been in the families of ranchers for years is being taken away from them through various methods. After the government confiscates the property, it may lease some of it back to the ranchers — but steadily increases the leasing fees. This is what provoked the Bundy standoff in spring of 2014 between protesters and law enforcement. Cliven Bundy stopped paying the grazing fees to use federal lands in Nevada, declaring that the federal government had no authority over the land. He continued to let his cattle graze on the land, until the government closed off the land to seize his cattle. After protesters showed up, law enforcement backed down and left him alone. Since then, he has continued to use the land without paying the fees.

Some believe the government’s aggressive seizure of land is a part of Agenda 21, the United Nations program launched in 1992 for the vague purpose of saving the environment. One of the goals of Agenda 21 is said to be moving people out of rural areas and into large urban areas, with the government finding ways to force people to sell off their property for reasons like saving endangered species. Whatever the public or ulterior motivations, the reality is that large swaths of land around the country are now blocked off from human habitation and often poorly managed by a highly centralized federal bureaucracy.

In Oregon, the government set up the Malheur Wildlife Refuge in 1908, and began gradually expanding it throughout much of southern Oregon. It has grown to 187,000 acres. The protesters assert that the government forced local ranchers out of their property to make way for the expansion by diverting water during the 1980s to flood their homes and property, rendering them uninhabitable. If the government hadn’t seized so much land, the Hammonds would likely not have been forced to lease property from the government, and any controlled burns they set would have been on their own property, not involving the government. This isn’t to say the Hammonds did nothing wrong. It’s simply context for understanding the ranchers’ long-simmering frustrations with the federal government.

Civil Disobedience by the Hammonds’ Supporters

While many people are rallying around the Hammonds, some think their armed supporters have taken things too far. Occupying the Malheur Wildlife Refuge headquarters for days is trespassing. Several of the supporters have said they are prepared to shoot back at law enforcement if necessary. The Hammonds’ attorney distanced his clients from the protesters, saying the protesters do not speak for the Hammonds.

So far, law enforcement has not tried to evict the occupants, but is deliberating on how to handle the situation. There is a real concern that a confrontation could result in another Ruby Ridge or Waco, incidents where law enforcement heavy-handedly came after radical patriot types who were barricaded in buildings and wouldn’t leave. Both showdowns tragically resulted in the loss of life, and left a black mark on federal law enforcement.

Some are comparing the standoff to the tactics of the Occupy and Black Lives Matter movements. Both of those groups also engaged in trespassing. While the Occupy movement mostly stuck to public parks for their multiple day protests, since parks close in the evenings, staying overnight constituted trespassing. Unlike the Hammonds’ supporters, Black Lives Matter protesters rioted and looted, and Occupy activists caused extensive property damage during their extended stays. Both groups have violently confronted the police, also unlike the Hammonds’ supporters. In fact, during the Baltimore riots earlier this year, the mayor of Baltimore said to give the Black Lives Matter protesters “their space,” even if it meant giving them space to riot and loot. In contrast to some of the destructive actors involved with Black Lives Matter protests, the Hammonds’ supporters have been, thus far, peaceful.

The longer the Hammonds’ supporters remain in the building, the more clamoring there is to arrest them. However, since they haven’t done anything other than trespassing similar to the Occupy movement, which was allowed to camp out for months in public areas, it seems unfair to single them out for arrest.

On the other hand, since even the Hammonds have made it clear that occupying the headquarters is not endorsed by them, most people think the best resolution would be for the protesters to disband. Their actions are highly unlikely to change the outcome legally, since the Ninth Circuit Court of Appeals and a federal district court judge have now ruled firmly against them. The Oregon Farm Bureau intends to send a petition to President Obama asking him to pardon the Hammonds. However, since Obama ultimately controls the Department of Justice and its attorneys who successfully demanded the longer sentences, it is highly unlikely he will issue a pardon.

What could the protesters realistically accomplish? Instead of occupying the building indefinitely, the Hammonds’ supporters might consider urging Congress to investigate the prosecution. The DOJ has a history of some of its attorneys targeting people for political reasons. Supporters could also ask Congress to reform the Bureau of Land Management and other responsible federal agencies to stop the land grabs and return much of the land to private ownership. An armed confrontation would serve only to give Obama another opportunity to call for more gun control. While they may have good intentions, and the publicity has brought much needed attention to the federal land grabs, trespassing is complicating sympathy for the Hammonds and the overall land problem faced by Western ranchers. (For more from the author of “Oregon Wildlife Refuge Protesters Dig in as Decades-Old Grievances Fester” please click HERE)

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Congress Sends Health Law Repeal to Obama for First Time

The GOP-led Congress sent legislation to President Barack Obama Wednesday repealing his signature health law, fulfilling a promise to Republican voters in a presidential election year but inviting a certain veto.

The nearly party-line vote in the House was 240-181. The legislation already passed the Senate last year under special rules protecting it from Democratic obstruction, so it goes straight to the White House.

Republicans boasted of a signal achievement, saying they were forcing Obama to face up to the failures of his law while illustrating stark political choices in an election year. (Read more from “Congress Sends Health Law Repeal to Obama for First Time” HERE)

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Obama Continues His Destruction of the US Armed Forces, Eyes 6 Military Bases to House Surge of Illegal Aliens

The new surge of illegal immigrant youths has forced the federal government to look at an emergency plan to house them at six military bases at at least two federal worker centers, according to the administration.

The Pentagon is beginning “site assessments” at bases as far north as North Dakota and Massachusetts.

“The Office of Refugee Resettlement (ORR) at HHS is expanding its capacity to provide shelter for the current influx of unaccompanied children at the U.S. Southern Border. This temporary increased shelter capacity is a prudent step needed to ensure ORR meets its statutory responsibility to provide shelter for the unaccompanied children referred to its care and to assist CBP in ensuring that the US Border Patrol continues its vital national security mission to prevent illegal migration and trafficking, and to protect the borders of the United States,” said a Pentagon memo to Rep. Martha Roby, Alabama Republican.

She led a previous fight to block the sheltering of the youths at Maxwell-Gunter Air Force Base near Montgomery, Ala . . .

The latest surge of minors reached 5,600 caught at the southern border in November, more than double the number apprehended last year, according to U.S. Customs and Border Protection.

(Read more from “Obama Eyes 6 Military Bases to House Surge of Illegal Aliens” HERE)

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Sex Abuse Scandal at Elite Rhode Island Prep School Being Investigated

The scope of a sexual abuse scandal at St. George’s School in Rhode Island widened substantially on Tuesday as lawyers reported that at least 40 former students had made credible reports of sexual abuse, and in some cases rape, by seven former staff members and four students over three decades.

At the same time, a spokesman for the school, which had made public its own investigation late last month, now characterized that investigation as “preliminary” and said that it would soon name who would be carrying the investigation forward. “The work remains ongoing,” the school said in a statement.

Lawyers for the victims said that the abuse took place from 1974 through 2004. Four of the seven former staff members are still alive, and in at least two cases appear to be working in settings with young people. None have been charged criminally.

Together, the school’s report, which said that staff members sexually abused 26 students in the 1970s and ’80s, and the lawyers’ reports of some 40 total victims, paint a picture of unchecked sexual misconduct at the elite prep school in Middletown.

“The magnitude and scope of this is already approaching the largest private school sexual abuse case that we’ve seen, which was at Horace Mann, where 62 victims came forward,” said Eric MacLeish, a lawyer who, with Carmen L. Durso, is representing some of the victims. The accusations at the Horace Mann School came to light in 2012. (Read more from “Sex Abuse Scandal at Elite Rhode Island Prep School Being Investigated” HERE)

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TEARS for FEARS: Presidential Pathos Comix

Another exclusive by our year around summer intern @BiffSpackle.

You can see all of Biff’s comics here and follow him on Twitter at @BiffSpackle.

(For more from the author of “TEARS for FEARS: Presidential Pathos Comix” please click HERE)

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