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Guess What Happened The Last Time The Chinese Stock Market Crashed Like This?

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By Michael T. Snyder The second largest stock market in the entire world is collapsing right in front of our eyes. Since hitting a peak in June, the most important Chinese stock market index has plummeted by well over 20 percent, and more than 3 trillion dollars of “paper wealth” has been wiped out. Of course, the Shanghai Composite Index is still way above the level it was sitting at exactly one year ago, but what is so disturbing about this current crash is that it is so similar to what we witnessed just prior to the great financial crisis of 2008 in the United States. From October 2006 to October 2007, the Shanghai Composite Index more than tripled in value. It was the greatest stock market surge in Chinese history. But after hitting a peak, it began to fall dramatically. From October 2007 to October 2008, the Shanghai Composite Index absolutely crashed. In the end, more than two-thirds of all wealth in the market was completely wiped out. You can see all of this on a chart that you can find right here. What makes this so important to U.S. investors is the fact that Chinese stocks started crashing well before U.S. stocks started crashing during the last financial crisis, and now it is happening again. Is this yet another sign that a U.S. stock market crash is imminent? Over the past several months, I have been trying to hammer home the comparisons between what we are experiencing right now and the lead up to the U.S. financial crisis in the second half of 2008. Today, I want to share with you an excerpt from a New York Times article that was published in April 2008. At that time, the Chinese stock market crash wasOriginally appeared at: http://davidstockmanscontracorner.com/guess-what-happened-the-last-time-the-chinese-stock-market-crashed-like-this/Guess What Happened The Last Time The Chinese Stock Market Crashed Like This? is a story from: BitcoinWarrior.net

Guess What Happened The Last Time The Chinese Stock Market Crashed Like This? is a story from: BitcoinWarrior.net

The post Guess What Happened The Last Time The Chinese Stock Market Crashed Like This? appeared first on Bitcoin Warrior.

Why We Shouldn\'t Pay for the Political Spending of Federal Contractors

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President Obama is said to be considering an executive order requiring government contractors to disclose their political spending. He should sign it immediately. He should go further and ban political spending by federal contractors that receive more than half their revenues from government. Ever since the Supreme Court ruled in Citizens United that corporations can contribute unlimited amounts to “independent” election efforts, big businesses have been funneling huge amounts of cash – often secretly – into American politics. That\'s bad enough. But when government contractors do the spending, American taxpayers foot the bill twice over. Our tax dollars are spent on their lobbying and campaign contributions. And if their lobbying and contributing is successful, our tax dollars are spent on federal contracts we often don\'t need. A study by St. Louis University political scientist Christopher Witko reveals a direct relationship between what a corporation spends on campaign contributions and the amount it receives back in government contracts. Reviewing campaign contributions and contracts from 1979 to 2006, Witko found that even after controlling for past contracts, companies that contributed more money to federal candidates subsequently got more and bigger contracts. A case in point is America\'s largest contractor – Lockheed Martin. More than 80 percent of Lockheed\'s revenues come from the U.S. government, mostly from the Defense Department. But it\'s hard to say American taxpayers have got a good deal from Lockheed. For example, Lockheed is the main contractor for the F-35 Joint Strike Fighter. It\'s been the single most expensive weapons program in history, and also one of the worst – plagued by so many engine failures and software glitches that Lockheed and its subcontractors practically had to start over this year. Why do we keep throwing good money after bad? Follow the money behind the money. According toOriginally appeared at: http://robertreich.org/post/123138820185Why We Shouldn\'t Pay for the Political Spending of Federal Contractors is a story from: BitcoinWarrior.net

Why We Shouldn\'t Pay for the Political Spending of Federal Contractors is a story from: BitcoinWarrior.net

The post Why We Shouldn\'t Pay for the Political Spending of Federal Contractors appeared first on Bitcoin Warrior.

Ulterior States (2015) Film Review

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[ezcol_1quarter] ★★★/5 Director: Tomer Kantor Online, Documentary Running Time: 52 minutes[/ezcol_1quarter] [ezcol_3quarter_end] At the moment, US politicians are lining up in droves to seek the coveted Presidential seat in the White House, and yet public faith in government institutions are at the lowest in decades. In an attempt to revive citizen participation, many candidates are slapping on new faces, new words, and new labels like ‘restore,\' ‘defend\' or ‘grassroots.\' But despite their tries to enfranchise a disenchanted public, they can\'t hide the fact that politics hardly changes society more than a couple laws at a time and a couple new faces in a term, and especially in international economic turmoil that is still unraveling in Argentina, Greece, and the US Puerto Rico, people are not finding the serious political and economic answers they\'re seeking. But something integral is seething at the heart of “Ulterior States,” Tomer Kantor\'s latest documentary. As a compilation of his interviews and videography over the past three years, what is so striking about this film is its almost pure kineticism in direction and concept. Full of latent energy, this film seriously stands uniquely apart from its contemporaries in the blockchain film space. To Kantor\'s benefit, I think that\'s the point. Where other filmmakers have been too cautious in their footing, he set his foot down. The film is radical in every sense of the word – it doesn\'t toy around with definitions and who people are, but instead strikes deep into the philosophical underpinnings of blockchain technology, a topic treated with general trepidation in “The Rise and Rise of Bitcoin” (2014). Instead, Tomer Kantor is fearless, expressing a level of depth regarding the nature of the State, institutional injustice, power structures, and society. In his previous shortOriginally appeared at: http://insidebitcoins.com/news/ulterior-states-2015-film-review/33523Ulterior States (2015) Film Review is a story from: BitcoinWarrior.net

Ulterior States (2015) Film Review is a story from: BitcoinWarrior.net

The post Ulterior States (2015) Film Review appeared first on Bitcoin Warrior.

Spells of Genesis: Custom Trading Card Assets And The Upcoming Token Sale

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EverDreamSoft\'s Spells of Genesis is all the buzz these days, with every crypto media outlet having written something about it by this point. Though the game hasn\'t come out yet (details on the project\'s fundraising in a second), some of the game\'s trading cards have begun to appear online. It brings out the 15-year-old geek in all of us, looking at the cool artwork. In their latest newsletter, the company announced that the token sale for their in-game currency, BitCrystals will officially kick-off on July 29, 2015. The sale will last for 30 days with an initial offering of 15,000 BitCrystals per BTC ($0.016 per BitCrystals), and the price of the BitCrystals will increase every five days. More information about the upcoming token sale can be found on the official project page. Also read: Moonga and Spells of Genesis: Taking Cryptocurrency to Online Gaming BitCrystals, are themselves assets on Counterparty. And now, in true form, the game developers have started developing cards for other assets on the platform, including Counterparty itself. The Counterparty community on Reddit was recently approached about the design of an XCP card though the post did not reveal whether such a card had been decided on just yet. While little is known of the actual game play in Spells of Genesis, a few cards were recently revealed, including one for Storj and another for FoldingCoin. Others have also gotten into the mix, including GetGems, Ethereum and Swarm. It\'s no surprise to see Swarm get involved as the BitCrystals token sale will be hosted on their platform. Spells of Genesis Custom Trading Cards The question is, what other projects will appear on the Spells of Genesis cards, and how much will this sort of meta insertion of brand names and such effect the gameplay experience? Indeed, this isOriginally appeared at: http://insidebitcoins.com/news/spells-of-genesis-custom-trading-card-assets-and-the-upcoming-token-sale/33519Spells of Genesis: Custom Trading Card Assets And The Upcoming Token Sale is a story from: BitcoinWarrior.net

Spells of Genesis: Custom Trading Card Assets And The Upcoming Token Sale is a story from: BitcoinWarrior.net

The post Spells of Genesis: Custom Trading Card Assets And The Upcoming Token Sale appeared first on Bitcoin Warrior.

Getting bitcoin globe data

Bitcoin feeds -

I just saw this bitcoin globe https://blockchain.info/nodes-globe?series=topBlockRelay It has two modes,"Online Now" and "Miners". I wanted to ask if anyone knows what the bars and colors stand for and if there are any APIs which I can get those data. (...)

Cryptocurrency with small block size limit or larg block time

Bitcoin feeds -

So there are a lot of cryptocurrencies that tries to improve on Bitcoin's 1 Mb block size limit and 10 minute block time (6MB per hour) by using faster block times or larger block size limits. For example litecoin has 1 Mb block size limit and block time is 2.5 minutes (24MB per hour). (...)

FBI Wants Pirate Bay Logs For Criminal Investigation Into Copyright Trolls

Slashdot -

the simurgh writes: It has been revealed today that In the past few months, two of the Pirate Bay co-founders have been repeatedly questioned by Swedish authorities, acting on behalf of the FBI. The internet now has clear evidence that Prenda is indeed being investigated by the U.S. Government for uploading their own copyrighted content in torrents placed onto The Pirate Bay, for the sole purpose of creating a honeypot trap to sue over pirated downloads.

Read more of this story at Slashdot.

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