Shanghai is down 5.5% and dropping. This AM in US markets we saw an almost 1100 point drop. It was like watching the White Ford on the LA Freeway. Deer in the headlights.
Tuesday will be another round, possibly not as bad. We are going from a "Correction" to a massive down turn. And where are our glorious leaders? On the golf course, of course.
The key question is a two part question; (i) our exports are low as compared to imports so who cares, and if China drops values we get cheaper imports, (ii) what about the debt on the fracking companies now that oil is in the tank? The China issue may be secondary to another financial collapse hidden in low cost but un-payable debt, close to a trillion.
I guess that pipeline can wait?
But then again for China look at the past ten years. They collapsed in 2008-2009 but what we see is really a bubble bursting. So we are still on good growth if we take out the bubble. So possibly China is not a problem. Debt is however.
It is always interesting to read comments on the Web, especially those in prominent sites. In a Science article discussing President Carter's illness a commentator writes:
You are wrong. The meaning of existence of private/public
company/corporation is to serve critical needs of society at large and
that's why it is allowed by the society to make reasonable, limited,
profits for future investments and not for opulent spending. If
company cease to serve the public interest is must be dismantled. And
because of that monopolistic Big Pharma must be dismantled for the good
of patients. But those principles have been corrupted and now
so-called US company serves their management and also foreign oligarch
ownership, not public.
The English is atrocious but the thought is terrifying. This goes beyond socialism, communism, into some communitarian extreme.
What drive this person to write in such a highly regarded journal. Well it was this paragraph:
Still, researchers have a lot to learn about pembrolizumab and other
PD-1 therapies in development. Keytruda is also extremely expensive, at about $150,000 a year. In clinical trials, PD-1 blockers generally work in less than half the participants. Research published earlier this year suggested PD-1 inhibitors may work best on tumors with lots of mutations, and a small clinical trial of pembrolizumab backed this up. It
found that people with advanced cancer were far more likely to respond
if they had so-called mismatch repair mutations in their tumors. This
could also help explain why, so far, PD-1 inhibitors have produced the
best outcomes in people with lung cancer and melanoma—both are often
PD-1 inhibitors are the next step in immune therapy with MABs. There has been decades of R&D and hundreds of billions spent, not to mention trials which have exposed many patients to false hopes. But as we have written before this is now one of several paths to treaing cancers.
But that is no excuse for the vitriolic comments by some of these readers. This same commenter states:
There is some other aspect of it however. President J. Carter
recently stated that US is run by Oligarchic cabal and that democracy is
no more. An that includes Big Pharma that grows like a cancer within
the bodies of cancer patients and that's the problem in America. The Big
Pharma is offering nothing but more pain, suffering, household
financial collapse and plenty of false hopes. Mr. President I
suggests you look seriously into massive, up to million mg intravenously
a day dose of ascorbic acid aka Vitamin C in appropriate form, that has
shown good results in clinical therapy but is dismissed by Big Pharma
brainwashed medical professionals.
Perhaps this individual is some hidden genius we have just missed as a society. Perhaps not!
There seems to be a total collapse in China. This was not fully expected but the ripples will be significant. Remember the China Sovereign Fund holds several trillion US Debt. This will be a very very bumpy week!
Now a few years ago I wrote about my saga of getting a ham on rye sandwich in California. Some how in California no one listens to the customers, they all want to add something. I noticed Panera also acts that way but not as bad as California. You ask for a "ham on rye" and they ask if you want sprouts or onions, peppers or tomatoes, "you want chips or fries".
All I wanted was ham on rye! I then did the Jack Nicholson thing; hold the tomatoes, hold the peppers, hold the fries!
Then I found someone who had experience. He said; "You from New York?" "Yeah!" then he said: "Two pieces of rye with ham in between, nothing else, yeas!" I answered, "got it!"
Now W10 is like a California sandwich. Instead of getting the computer you get their graphics, their placements, their way of doing things which when you try do not work.
Why not try like ham on rye. Let me decide what to add, lay out the condiments. Don't force me to figure out how to scrape off the avocado stuff, I hate avocados. I also hate mayonnaise on ham! I like mustard and I want to put on my own amount!
So W10 comes as Seattle would like you to consume it. I guess that is also why I hate Starbucks. Try and get a small regular black coffee!
Microsoft is not very user friendly. Really not friendly. Well welcome to Windows 10. Just got a pad to use and it comes with 10. Now Dell makes a fantastic product. Then on to W10.
First thing I do is get rid of all the junk that some marketing guru, a true oxymoron for Microsoft, wants me to have. Change screen to classic blue and layout the files folders like my other 7 machines. That way no visual dissonance.
Then go to start and get rid of all the junk. Tons of junk, none of which I will ever use!
Then make a Recovery stub. No wait, it seems that no one has been able to do this yet. You have to Google this since Microsoft tells you they have too many questions and yours is not important.
But, there is a back door, a Windows 7 restore to a 1TB disk. Got that done.
Then try and get Bluetooth working! It connects, then drops, and then, well I have no idea what then. To see how bad Microsoft is one need look no further than the "Support" pages. The Company in my opinion must really despise its customers. The poor customer had the same issues I did. Now bluetooth is really simple. I have it in my car, my GPS, dozens of other computers. But for Microsoft, taking a simple need and turning it into massive neuro surgery in the dark is common place!
Then there is your WiFi. For various reasons it drops you, sending you to Airplane mode. This happens randomly.
Yes, it can be made to look and almost act like XP. But given a clean install and the mess so far I could see no rational human upgrading from W7 to W10! Why upgrade to a system which the users have not shaken down yet. Yes, that is Microsoft. Thank God Google still works, but I suspect they will also soon be going the way of Seattle. Pity.
Terry has spent most of his career in industry, half in corporate executive positions, and half involved in his start ups. He started on the Faculty and Staff at MIT in 1967 and was there until 1975, and he had returned to MIT from 2005 to 2012 to assist groups of doctoral and post doc students. Terry has focused on a broad set of industries from cable, to satellite, wireless, and even health care software and medical imaging. Terry has published extensively in a broad set of areas as well as having written several books. Terry's view is that of an entrepreneur who has built companies in over twenty countries.
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