Wall Street blames China for meltdown - What is the truth?

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Chinese President Xi Jinping

Here we go again, when anything goes wrong in the world Obama, our politicians, and now Wall Street, blame China.  As I have written several times, maybe we should not rush to judgement until the facts have arrived.  In the meantime there are some truths that might suggest our economic experts continue to be wrong.

For example, ever since the second greatest stock market crash in history when President Obama took office, America has been struggling to regain an economic foothold.  In the past six years we have had one of the slowest recoveries in history and many people wonder if anything really did recover.

Well everyone on Wall Street certainly recovered including those nasty banks who manipulated the market and nearly destroyed the nation.  The greatest beneficiary was Goldman Sachs who also happened to be the largest contributor to the Obama campaign.

So great was their influence that Rahm Emanuel of Goldman became the first Obama White House Chief of Staff. A CBS News analysis of the revolving door between Goldman and government reveals at least four dozen former employees, lobbyists or advisers at the highest reaches of power both in Washington and around the world.

One would think after the loss of trillions of dollars of middle class wealth, home values, retirement funds, etc., Obama would have us prepared to manage another financial crisis. Yet in the most current economic crisis there is silence from the White House.  Come to think of it, after all these years since the last crisis, there has been virtually no prosecutions, no fat cats in jail, no banks dissolved, nothing considering the degree of the crime.

So here we are, six years later blaming China for our stock woes.  What happened to all the financial reforms?  Here is a list of  government agencies and congressional committees and subcommittees, the executive and legislative branch resources, to maintain our economy.

U.S. Government Executive Branch Financial Regulators

Bank and Market Financial Regulators

US Department of Treasury

US Department of Justice

Office of the Comptroller of the Currency

Office of Thrift Supervision

Securities and Exchange Commission

Federal Deposit Insurance Corporation

Commodities Futures Trading Commission

National Credit Union Administration

Non-Bank Financial Regulators

Federal Housing Finance Agency

Consumer Financial Protection Bureau

Regulatory Umbrella Groups

Financial Stability Oversight Council

Federal Financial Institution Examinations Council

President’s Working Group on Financial Markets

Non-Bank Capital Requirements

Federal Housing Finance Agency

The SEC’s Net Capital Rule

CFTC Capital Requirements

Foreign Exchange Markets

Treasury Securities

Private Securities Markets

Federal Reserve System

CFTC Is Next Agency To Consider Regulating Algorithmic Trading

By Jenny E. Cieplak on June 9, 2015

U.S. Government Legislative Branch Financial Oversight

The House of Representatives

The House of Representatives House Committee on Agriculture Subcommittee on Commodity Exchanges, Energy, and Credit House Committee on Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Subcommittee on Energy and Water Development, and Related Agencies Subcommittee on Financial Services and General Government Subcommittee on Interior and Environment, and Related Agencies Subcommittee on Labor, Health and Human Services, Education, and Related Agencies Subcommittee on Commerce, Justice, Science, and Related Agencies, Subcommittee on Transportation, Housing and Urban Development, and Related Agencies House Committee on Armed Services Subcommittee on Emerging Threats and Capabilities House Committee on Budget House Committee on Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade Subcommittee on Energy and Power Subcommittee on Environment and Economy Subcommittee on Oversight and Investigations Subcommittee on Communications and Technology House Committee on Education and the Workforce Subcommittee on Health, Employment, Labor, and Pensions Subcommittee on Higher Education and Workforce Training Subcommittee on Workforce Protections House Committee on Ethics House Committee on Foreign Affairs Subcommittee on Africa, Global Health, Global Human Rights, and International Organizations Subcommittee on Asia and the Pacific Subcommittee on Europe, Eurasia, and Emerging Threats Subcommittee on the Middle East and North Africa Subcommittee on Terrorism, Nonproliferation, and Trade Subcommittee on the Western Hemisphere House Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit Subcommittee on Housing and Insurance Subcommittee on Capital Markets and Government Sponsored Enterprises Subcommittee on Monetary Policy and Trade Subcommittee on Oversight and Investigations House Committee on Oversight and Government Reform Subcommittee on Health Care, Benefits, and Administrative Rules Subcommittee on the Interior Subcommittee on Information Technology Subcommittee on National Security Subcommittee on Transportation and Public Assets House Committee on Homeland Security Subcommittee on Cybersecurity, Infrastructure Protection, and Security Technologies Subcommittee on Emergency Preparedness, Response, and Communications Subcommittee on Counterterriorism and Intelligence Subcommittee on Oversight and Management Efficiency Subcommittee on Transportation Security House Permanent Select Committee on Intelligence Subcommittee on CIA Subcommittee on Department of Defense Intelligence and Overhead Architecture Subcommittee on NSA and Cybersecurity Subcommittee on Emerging Threats House Committee on the Judiciary Subcommittee on the Constitution and Civil Justice Subcommittee on Courts, Intellectual Property, and the Internet Subcommittee on Crime, Terrorism, Homeland Security, and Investigations Subcommittee on Immigration and Border Security Subcommittee on Regulatory Reform, Commercial, and Antitrust Law House Committee on Natural Resources Subcommittee on Energy and Mineral Resources Subcommittee on Indian, Insular and Alaska Native Affairs Subcommittee on Federal Lands Subcommittee on Oversight and Investigations Subcommittee on Water, Power and Oceans Subcommittee on the Legislative and Budget Process Subcommittee on Rules and Organization of the House House Committee on Science, Space, and Technology Subcommittee on Energy Subcommittee on Environment Subcommittee on Oversight Subcommittee on Research and Technology Subcommittee on Space House Committee on Small Business Subcommittee on Agriculture, Energy and Trade Subcommittee on Contracting and the Workforce Subcommittee on Economic Growth, Tax and Capital Access Subcommittee on Health and Technology Subcommittee on Investigations, Oversight and Regulations House Committee on Transportation and Infrastructure Subcommittee on Aviation Subcommittee on Coast Guard and Maritime Transportation Subcommittee on Economic Development, Public Buildings and Emergency Management Subcommittee on Highways and Transit Subcommittee on Railroads, Pipelines, and Hazardous Materials Subcommittee on Water Resources and Environment House Committee on Ways and Means Subcommittee on Health Subcommittee on Human Resources Subcommittee on Oversight Subcommittee on Select Revenue Measures Subcommittee on Social Security Subcommittee on Trade

The Senate

The Senate Senate Committee on Agriculture, Nutrition, and Forestry Subcommittee on General Farm Commodities, Risk Management and Trade Subcommittee on Conservation, Forestry and Natural Resources Subcommittee on Horticulture, Research, Biotechnology, and Foreign Agriculture Subcommittee on Livestock, Marketing and Agricultural Security Subcommittee on Nutrition, Speciality Crops and Agricultural Research Subcommittee on Rural Development and Energy Senate Committee on Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration and Related Agencies Subcommittee on Commerce, Justice, and Science, and Related Agencies Subcommittee on Defense Subcommittee on Energy and Water Development Subcommittee on the Financial Services and General Government Subcommittee on State, Foreign Operations, and Related Programs Subcommittee on Homeland Security Subcommittee on Interior, Environment, and Related Agencies Subcommittee on Labor, Health and Human Services, Education, and Related Agencies Subcommittee on Legislative Branch Subcommittee on Military Construction, Veterans Affairs, and Related Agencies Subcommittee on Transportation, Housing and Urban Development, and Related Agencies Senate Committee on Armed Services Subcommittee on Airland Subcommittee on Readiness and Management Support Subcommittee on Seapower Subcommittee on Strategic Forces Subcommittee on Emerging Threats and Capabilities Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy Subcommittee on Financial Institutions and Consumer Protection Subcommittee on Housing, Transportation, and Community Development Subcommittee on National Security and International Trade and Finance Subcommittee on Securities, Insurance, and Investment Senate Committee on the Budget Senate Committee on Commerce, Science, and Transportation Subcommittee on Aviation Operations, Safety, and Security Subcommittee on Communications, Technology, Innovation and the Internet Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security Subcommittee on Oceans, Atmosphere, Fisheries, and Coast Guard Subcommittee on Space, Science and Competitiveness Subcommittee on Tourism, Competitiveness, and Innovation Subcommittee on Surface Transportation and Merchant Marine Infrastructure, Safety and Security Senate Committee on Energy and Natural Resources Subcommittee on Energy Subcommittee on Public Lands, Forests and Mining Subcommittee on National Parks Subcommittee on Water and Power Senate Committee on Environment and Public Works Subcommittee on Clean Air and Nuclear Safety Subcommittee on Superfund, Waste Management, and Regulatory Oversight Subcommittee on Transportation and Infrastructure Subcommittee on Fisheries, Water and Wildlife Senate Select Committee on Ethics Senate Committee on Finance Subcommittee on Energy, Natural Resources, and Infrastructure Subcommittee on Fiscal Responsibility and Economic Growth Subcommittee on Health Care Subcommittee on Social Security, Pensions, and Family Policy Subcommittee on Taxation and IRS Oversight Subcommittee on International Trade, Customs, and Global Competitiveness Senate Committee on Foreign Relations Subcommittee on State Department and USAID Management, International Operations, and Bilateral International Development Subcommittee on Africa and Global Health Policy Subcommittee on East Asia, the Pacific and International Cybersecurity Policy Subcommittee on Europe and Regional Security Cooperation Subcommittee on Multilateral International Development, Multilateral Institutions and International Economic, Energy, and Environmental Policy Subcommittee on Near Eastern and South Asia, Central Asia and Counterterrorism Subcommittee on Western Hemisphere, Transnational Crime, Civilian Security, Democracy, Human Rights and Global Women's Issues Senate Committee on Homeland Security & Governmental Affairs Subcommittee on Financial and Contracting Oversight Subcommittee on Federal Spending Oversight and Emergency Management Permanent Subcommittee on Investigations Subcommittee on Regulatory Affairs and Federal Management Senate Committee on Health, Education, Labor, and Pensions Subcommittee on Primary Health and Retirement Security Senate Select Committee on Intelligence Senate Committee on the Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights Subcommittee on Bankruptcy and the Courts Subcommittee on The Constitution Subcommittee on Crime and Terrorism Subcommittee on Immigration and the National Interest Subcommittee on Oversight, Agency Action, Federal Rights and Federal Courts Subcommittee on Privacy, Technology and the Law Senate Committee on Small Business and Entrepreneurship Senate Committee on Veterans' Affairs

So far no word from any of these groups as to what they are going to do regarding market manipulations from the kings of Wall Street.

Ironically, when it comes to the Chinese, they are all over the news with their crackdown on corruption, unfair business practices, and market manipulations.  Why is it the Chinese are going after the American companies who are introducing American crooked business practices to the Chinese market, assuming the Chinese will never figure out what went wrong.

Of course it is a safe assumption since the dozens and dozens of American regulators seem to have no interest in stopping the practices here.  Look at the headlines the Chinese have generated around the world while we sit on our butts and cast stones.

Leadership is the first requirement for fixing things and Chinese President Xi Jinping has launched one of the largest and most aggressive anti-corruption campaigns in the world. First he took on those throughout the government and now he is focusing on those who have undermined the Chinese efforts to improve the quality of life for the people.
  
As for the stock market, in China, it only takes one agency to do what the dozens of US agencies cannot do and that is the China Securities Regulatory Commission.  Once again President Jinping has attacked the problem where it is needed.  Maybe they can come here and show us what to do.

These are the headlines around the world concerning the Chinese effort to drive the crooks out of the financial markets.

China crackdown over rout chills market

China turns up heat on market players

Beijing scraps large-scale stock buying

Authorities to step up crackdown on those ‘destabilising’ market

China says 197 punished in crackdown on online rumors

China stocks slide as crackdown on speculators spreads, lose 11 percent in August

SHANGHAI

China warns securities industry as crackdown on stock market irregularities expected to intensify

Securities regulator orders industry to step up supervision after brokerage staff, officials and journalist are detained over unethical trading

China arrests nearly 200 in stock market crackdown

Shadow lending crackdown looms over China’s stock market

China stock exchanges step up crackdown on short-selling

China’s (Renewed) Crackdown on Insider Trading

Avic Units Targeted In China's Crackdown On Sell-Offs

China accuses brokers of manipulating share prices during stock market crisis

Beijing’s police ministry said it has launched a criminal investigation into unlicensed companies that financed speculative trading

China accuses trading firms of manipulating stocks

Wall Street Breakfast: China Heightens Curbs In Market Crackdown

Aug. 4, 2015 7:06 AM ET
   
China has unveiled more rules that make it harder for speculators to profit from hourly changes in stock prices. Under the new guidelines, short sellers must wait at least one day to cover their positions and repay loans used to buy shares.

Behind enemy lines - foreign hedge funds thrive in China

China stock exchanges are stepping up a crackdown on short-selling
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Carly Fiaona Conquers CNN with Surge in Polls, Class, and Confidence

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Ever since 2010, I have been writing about the qualities and qualifications of Carly Fiorina, as a newcomer to American politics and potential superstar in the future.  I noted she was smart, savvy, cultured, intelligent, and very aware of the issues both domestically and abroad.

This spring she announced for president, but it was not until her dominating performance in the pre-debate against the other men that she dominated the night and surged in the polls.  Ever since she has been the ideal candidate compared to the street brawlers leading the GOP polls.

CNN is moderating the second GOP debate and adopted bizarre rules to determine which candidates would be on the main debate and who would be in the secondary shuffle.  One wonders what CNN will do to top the Fox News Kelly and Trump controversy and record ratings.

Before the debate even began, however, CNN created a firestorm of controversy by saying that it did not matter that Carly Fiorina won the first debate and catapulted from near the bottom of the polls to number 3 in Iowa out of sixteen candidates, she would not be on the main stage.

It seems the CNN gang had established rules that only the top ten in the average of polls from June 1 to September 2 would make the center stage.  Carly, who surged to the top three after the debate, had no chance to be in the final because, according to CNN, there were not going to be enough polls run after the first debate to bring her into the top ten.

Then CNN went so far as to say there was no way to change the rules.  Carly was disappointed but had too much class to get into mudslinging.  Of the other 15 candidates only Ben Carson commented saying she earned the right to be on the stage and RNC chair Reince Priebus also called for a rules change.  CNN said no.

Suddenly there was a public backlash against CNN for blocking the only female candidate for president on the GOP side from the debate.  Lo and behold, CNN figured out on September 1 they could change the rules to make the debate fair and they did.  It will be a great opportunity for America to learn about the other female candidate for president besides Hillary, and I think people might be impressed.

In the meantime, the newest poll in Iowa had quite startling results showing Ben Carson had tied Donald Trump at 23% each while Carly was alone in third with 10% of the vote.  All the other familiar names were behind the three outsiders to politics.  In other words, 56% of the GOP voters in Iowa want someone with NO political experience.

US News and World Report September 1

Some cracks are beginning to appear in The Donald's armor as he seeks the Republican presidential nomination.

The latest Monmouth University poll shows billionaire real estate developer Donald Trump is now in a statistical tie in Iowa with retired neurosurgeon Ben Carson, whose support is surging. Each has the backing of 23 percent of likely Iowa GOP caucus goers. It's the first time in six weeks that Trump hasn't been the clear leader in a major poll in Iowa, the first state to hold a nominating event in 2016, CNN reports.

Both Trump and Carson are non-politicians who promise to shake up Washington. Former business executive Carly Fiorina still another Washington outsider, has moved up into third place with 10 percent. The combined support in Iowa for these three outsider candidates – Trump, Carson, and Fiorina – is 56 percent, but Carson and Fiorina are far less blustery and less inclined to lob one-liners and insults than Trump.

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Black Lives Matter latest social movement hijacked by troublemakers and anarchists?

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Are we ever going to learn our lesson?  The playbook for socialism, playbook for communism, and playbook for anarchism - all discuss how the establishment of citizen groups in support of popular causes should be encouraged.  Once they are established, committed anarchists will infiltrate them, and efforts will be undertaken to destroy both public institutions and support for the social causes they represent.

Such were the teachings of Karl Marx all the way back in the middle of the 19th century, then Lenin, Stalin, and Trotsky in the early 20th century, and finally Hitler and Himmler in the mid-20th century.  Other despots and dictators have advocated the same infiltration methods.

Perhaps that is what happened in the Civil Rights and anti-war riots of the 1960's, the American Indian Movement of the 1970's, and now such efforts as the Occupy Wall Street and Black Lives Matter movement of the 21st century.

In each case people had a right to protest, a right to hold peaceful demonstrations, and a right to point out flaws in our system of society.  Yet each movement saw incendiary efforts evolve that undermined the public support for the causes, divided the nation, and contributed to the cause of spreading hatred throughout the nation.

Police were assaulted, inflammatory language surfaced in crowd chants and music lyrics, and suddenly any hope for peaceful protests went up in flames along with the very neighborhoods where suffering was most obvious.  The pattern repeated itself in Ferguson, Missouri, New York City, and Baltimore, Maryland the past year.

Peaceful marches by Black Lives Matter suddenly broke out in provocative and threatening chants when they marched past police officers sent to protect them and all citizens, chants screaming, "Pigs in a blanket, fry 'em like bacon" in Minneapolis.

In New York City is was, "How do you spell racist? N-Y-P-D."

Black Lives Matter claims to be "a unique contribution that goes beyond extrajudicial killings of black people by police and vigilantes" and that "Black Lives Matter affirms the lives of black queer and trans folks, disabled folks, black undocumented folks, folks with records, women and all black lives along the gender spectrum."

Toward that end protesters and protest organizers have met with President Barack Obama, and other prominent leaders to demand an end to what they view as racial profiling, police brutality, mass incarceration of African-Americans, and the militarization of many police departments in the USA.

As noted earlier, it is unfortunate that what began as peaceful protects was hijacked by radicals and militants.

In New York City protests turned into anti-police chants like - "NYPD - KKK" and "Murdering Pigs."

   

Protesters marching in Cleveland shouted anti-police slogans they march behind a large banner that said, "Stop murder by police."

In Houston Texas protests began chants including, "The revolution is on… Off the pigs," and "Oink Oink… Bang Bang."

Demonstrators chanting "killer cops" carry a mirrored coffin through the streets of Ferguson as 100 police in riot gear form a line to face them down.

At the same protest were heard shouts, "Killer cops, KKK, how many kids did you kill today?"

People stood in the middle of the street screaming out: "My hands on my head. Please don't shoot me dead" and "Who shuts it down? We shut it down!"

Whether it is a matter of cause and effect or something much more sinister, the result is the following:

Preliminary 2015 Law Enforcement Officer Fatalities

January 1 through September 2, 2015

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January 1 through September 2, 2014

	2015	2014	% Change
Total Fatalities	85	73	+16%
Firearms-related	26	30	-13%
Traffic-related	38	28	+36%
Other Causes	21	15	+40%
Please note: These numbers reflect total officer fatalities comparing January 1 through September 2, 2015 vs. January 1 through September 2, 2014

This is according to the National Law Enforcement Officers Memorial Fund, generally considered the most reliable database on police in the nation.  The NLEOMF also has determined there are over 900,000 state and local law enforcement officers in America.

As you can see, since the 2015 data is only through September 2, 2015, nearly four more months of data is yet to come.  Already the number of deaths is increasing from year to year.  With the murders of police in New York, Texas, Mississippi, Illinois, Nebraska, and throughout the nation, the anarchists seem to have the upper hand.

Those few high profile murders of citizens, which must be prosecuted to the fullest extent, have resulted in a higher level of risk to all 900,000 police who go about their jobs with dignity, respect for all citizens, and compassion.

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The Secret to Secure Borders - Redeploy American Troops from Overseas

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Pay attention presidential candidates, - here is an alternative to the fence in Mexico!

Why not relocate US Troops to new US Bases along the Mexican border?  We could help stop the senseless killing, 160,000 Mexican citizens since Obama took office, caught in the middle of a drug war.  At the same time, a series of a dozen or more bases stretched out along the border would move thousands of trained military into the vicinity of the human trafficking of illegal immigrants along with the drug dealers.  Right now the US pays the highest costs possible to foreign governments to post our troops overseas for the purpose of defending their foreign lands.

If we had a series of military bases along the border, we would reduce foreign costs for defense, provide thousands of trained soldiers to help with immigration and drug trafficking, and be able to use the bases to monitor high-tech electronic monitoring of the border rather than build a giant wall. It would also help stimulate the local economies where the bases would be built and soldiers and families housed.

Redeployment of overseas forces

Here is what I wrote in an article June 3, 2010:

We have over 2.5 million defense soldiers and civilian employees but only 1.1 million are in the USA. Since a few thousand remain in both Iraq and Afghanistan that leaves 1.2 million DOD employees all over the rest of the world. There are over 735 American military bases outside the USA including 38 large and medium size facilities.

At the height of the British Empire in 1898 they had 36 bases spread out around the world and at the height of the Roman Empire in 117 AD they had 37 major bases. Of course they were both trying to conquer the world. We aren't supposed to be conquering the world so get rid of the excess bases.

Maybe the president should stop playing world policeman and close the majority of the overseas bases, leaving only those absolutely needed for national security, and set up a network of domestic bases along the border with Mexico. We already have the troops and are paying to keep them outside the country. Why not set up border bases in Arizona, New Mexico, a couple in Texas and maybe one more in Southern California?



Perhaps the presence of thousands of American troops might help stop the flow of illegal drugs and the human trafficking of illegal immigrants? It might even help Mexico reduce the massive death rate from the drug war along the border that has cost 160,000 Mexican lives, men, women, and children, since 2007.

This is one of the darkest elements of the border traffic and is a plague to Arizona and the other states.  Here is a solution that saves money and lives while reducing costly foreign expenditures that can no longer be justified.
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