iftttwall – Page 24336

See a Kid in a Car? Get Out Your Crowbar and Start Smashing, Says New Law

Crowbar Tennessee has just made it legal
to break into a
car if you see a child in there and have a “good
faith belief” that he or she will suffer harm if not immediately
removed.

In other words, feel free to get out the crowbar.

This would make sense if we had a realistic sense of when kids
are truly in danger. But we don’t. We have been told by the media
and the government that kids are in danger absolutely any time they
are waiting in the car, even for a single minute. Look
at this
story, for instance: a mom found guilty of neglect for not
hauling her sleeping kid into the store with her on a 10 minute
errand. Or this
one—a four-minute errand. Or this
one, a mom berated by a “Good Samaritan” for a
20-second errand.

I hear from moms who got yelled at for returning their shopping
cart to the corral after first getting their kids into their car
seats, as if this put their kids in mortal peril.

We have become so hyper sensitized to the danger of kids waiting
in cars, we can no longer see the difference between a child
waiting while mom picks up the pizza and a child locked in the car
all day while mom plays the slots.

But there is a big difference. I can find no instance of a child
dying in a car who was there for the duration of a short
errand. Of
the 30-40 kids who died in parked cars, 86 percent perished
because their parents forgot they were in the car and didn’t come
back for hours, or the children got into the car unbeknownst to the
parents and then couldn’t get out. (That wouldn’t be the case in a
parking lot.)

The Tennessee law
requires that before a would-be Samaritan crowbars the car they try
actually opening the door, and also call 911. But that immediately
involves the police in a parenting decision. A far better course of
action would be to simply stand by the car for a while and wait for
the parent to return.

Smashing the window or prying open the door without waiting a
while for the parent is extreme. It’s acting as if every time a
child is waiting in a car he’s in danger, when—thank
goodness—that’s not the case. We know that because most of us often
waited in the car as kids.

That practice simply was not labeled negligence back then,
because it wasn’t and still isn’t. It’s a decision that decent,
rational parents who love their kids make every day.

Sometimes it makes sense to bring a child in while running
an errand, sometimes it doesn’t. Parents should be allowed to make
that choice without the law breathing down their necks.

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New Laws That Allow The Government to Seize Savings Deposits During a Crisis

Behind the veneer of “all is well” being promoted by both world Governments and the Mainstream Media, the political elite have begun implementing legislation that will permit them to freeze accounts and use your savings to prop up insolvent banks.

This is not conspiracy theory or some kind of doom and gloom. It’s basic fact.

When a Cyprus bank went bust in 2013, the Government SEIZED 40% of ALL SAVINGS DEPOSITS OVER €100,000.

Here’s the timeline:

· June 25, 2012: Cyprus formally requests a bailout from the EU.

· November 24, 2012: Cyprus announces it has reached an agreement with the EU the bailout process once Cyprus banks are examined by EU officials (ballpark estimate of capital needed is €17.5 billion).

· February 25, 2013: Democratic Rally candidate Nicos Anastasiades wins Cypriot election defeating his opponent, an anti-austerity Communist.

The initial stage of this took over six months to develop. But once things got hairy, the seizure took place over the course of ONE WEEKEND.

· March 16 2013: Cyprus announces the terms of its bail-in: a 6.75% confiscation of accounts under €100,000 and 9.9% for accounts larger than €100,000… a bank holiday is announced.

· March 17 2013: emergency session of Parliament to vote on bailout/bail-in is postponed.

· March 18 2013: Bank holiday extended until March 21 2013.

· March 19 2013: Cyprus parliament rejects bail-in bill.

· March 20 2013: Bank holiday extended until March 26 2013.

· March 24 2013: Cash limits of €100 in withdrawals begin for largest banks in Cyprus.

· March 25 2013: Bail-in deal agreed upon. Those depositors with over €100,000 either lose 40% of their money (Bank of Cyprus) or lose 60% (Laiki).

The most important thing I want you to focus on is the speed of these events once things hit the fan. Cypriot banks formally requested a bailout back in June 2012. The bailout talks took months to perform. And then the entire system came unhinged in one weekend.

One weekend. The process was not gradual. It was sudden and it was total: once it began in earnest, the banks were closed and you couldn’t get your money out (more on this in a moment).

Cyprus is not some freak occurrence that could never happen anywhere else. The IMF has suggested to Governments around the world that they do the same (meaning STEAL deposits).

Again, this is not conspiracy theory. Germany just passed legislation that would permit PRECISELY this.

BERLIN–Germany's cabinet Wednesday approved plans to force creditors into propping up struggling banks beginning in 2015, one year earlier than required under European-wide plans that set rules for failing financial institutions.

The new bail-in rules are part of a package of German legislation on the European banking union–an ambitious project to centralize bank supervision in the euro zone and, when banks fail, to organize their rescue or winding-up at a European level.

Germany "leads the way" in Europe by implementing European rules quickly and "creates instruments that allow the winding-down of big systemically relevant institutions without putting the financial stability at risk," the country's finance ministry said in its draft bill seen by The Wall Street Journal.

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So… Germany is “leading the way” in promoting plans to do a “bail-in.” What is a “bail-in”? A “bail-in” is when bank accounts are frozen and then seized in order to prop up the bank… a “bail-in” is what happened in Cyprus. It is when savings are STOLEN.

The explanation given to those with money in the bank?

In common speak, “you can either give us 40% of your savings to keep the bank afloat or the bank collapses and you’re left with NOTHING.”

We also want to point out that the above article indicates Germany moved to implement this a year early in 2015 instead of waiting until 2016.

Quick question…

Why would Germany want to rush in legislation that would allow it to freeze bank accounts and seize assets to prop up bankrupt financial institutions? Is it because everything is fine in Europe?

If you think this couldn’t happen elsewhere you are wrong. Canada, New Zealand and even the UK and US have proposed similar measures. The next time stuff hits the fan, savings will be on the hook, not the Central Banks.

This concludes this article. If you’re looking for the means of protecting your portfolio from the coming collapse, you can pick up a FREE investment report titled Protect Your Portfolio at http://ift.tt/QHtIFM

This report outlines a number of strategies you can implement to prepare yourself and your loved ones from the coming market carnage.

Best Regards

Phoenix Capital Research

via Zero Hedge http://ift.tt/1mCUeAn Phoenix Capital Research

Pure Madness: Revenueless, Assetless SYNC Soars Over $5Bn; Bigger Than GameStop, Cablevision, Jabil Circuit

Well that escalated quickly… CYNK Technologies – which we first exposed to the world here – has gone from dumb to dumber. “Traders” just bid CYNK at $18.50 this morning (on less than 100,000 shares) meaning this asset-less, revenue-less shell of exuberance now has a market cap over $5.4 billion.

That leaves CYNK more “valuable” than all of the following companies…

As a reminder, this idiocy is a glimpse of what the Fed’s central planning has done to the S&P 500.

via Zero Hedge http://ift.tt/1qnUCSP Tyler Durden

Liberals Shocked That Religious Beliefs About Emergency Contraception Are Not Scientifically Based

Plan B Let’s not dive back into the whole Hobby Lobby
contretemps, but consider for a moment that some folks over at
Talking Points Memo (TPM) are horrified to discover that
religious beliefs are “irrational.” Really? Readers are treated to
this deep insight from the article, “Science
Was Irrelevant in Hobby Lobby and That’s Congress’s Fault“:

“I think RFRA [Religious Freedom Restoration Act] was a very
unfortunate law because it enshrined a legal shield for [religious]
people even if they had irrational beliefs,” said Sara Rosenbaum, a
professor of health policy at George Washington University who
co-authored
an amicus brief in favor of the birth control mandate. “So if
the court feels it’s dealing with someone who’s sincere, I don’t
think anybody’s going to subject that person’s belief to a
scientific test.”…

“The whole purpose of RFRA is to honor people’s religious
beliefs and so science steps out of the doorstep in RFRA,”
Rosenbaum said. “The wonderful thing about being religious is you
can believe all sorts of irrational things.”

Who would have thought it? And Professor Rosenbaum teaches at a
university run by a church that thinks that using regular
contraception (pills and condoms) is
sinful.

The TPM article cites a chart from The New Republic
showing that emergency contraceptive pills are not abortifacients
as the owners of Hobby Lobby believe. As it happens, the New
England Journal of Medicine in a 2012 editorial
excoriating the Obama Administration for not allowing emergency
contraceptive pills to be sold over the counter in pharmacies
noted:

The best available evidence indicates that it prevents pregnancy
largely by delaying or preventing ovulation, but prevention of
implantation cannot be ruled out. Levonorgestrel does not cause
abortion; it does not terminate an established pregnancy (an
implanted conceptus) and should not be confused with the
abortifacient mifepristone (RU-486).

As it happens, for some religiously irrational folks prevention
of the implantation of a fertilized egg would count as an
abortion.

Possibly the greatest achievement of the Enlightenment was the
principle of tolerance: I may or may not have access to
transcendent truth, but I am damned sure that you don’t. So let’s
leave each other alone in our irrational beliefs about the
transcendent.

Since between 60 and 80 percent of embryos are never born due to
natural causes, let’s reprise my column, “Is
Heaven Chiefly Populated with the Souls of Embryos?“

Disclosure: For what it’s worth I have been an out-atheist
since my teens.

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Second Company Admits “It’s Not The Weather” – It’s The Economy, Stupid

On the heels of Wal-Mart’s dismissal of the “great” jobs report, The Container Store CEO yesterday explained how Q1 weakness was “not just the weather” but an overall ‘funk’ in consumer spending. Last night we had a second firm – the much more integrated into the housing recovery, Lumber Liquidators – come out with some heresy about Q2 bounce backs and the weather…”demand strengthened for 30 days beginning in mid-March. But in May demand slowed and further weakened in June. We were somewhat surprised by the magnitude of the continued weakness in the stores designated as impacted by weather in the first quarter.” There goes Q2 GDP…

Q2 was worse that Q1!!

As we discussed on our first quarter earnings call customer demand strengthened for 30 days beginning in mid-March. But in May demand slowed and further weakened in June. We were somewhat surprised by the magnitude of the continued weakness in the stores designated as impacted by weather in the first quarter, particularly relative to all other stores.

When weather impacted comparable stores, net sale decreased 12.9% driven by both a 9.6% decrease in the number of customers invoiced and a 3.3% decrease in the average sale. In all other comparable stores net sales decreased 2.1%, nearly all due to a lower number of customers invoiced.

Forget the idea of “pent-Up” demand – once it’s gone, it’s gone

The impact that weather can have on a flooring purchase is very different compared to other large ticket purchases. A flooring purchase is generally a large ticket discretionary purchase that most residential homeowners make infrequently. It is disruptive to the household and can be a complex undertaking for the customer. Our research indicates that the average length for the entire process from interest, initial interest to sale is approximately 100 days.

Wood flooring is a product that must acclimate to the house and room before being installed. As a result our customers typically plan well in advance for the inconvenience of removing old flooring and installing new flooring. Once the window of opportunity to complete the flooring purchase has closed finding a new opening in the calendar may be difficult and take some time.

…customers’ discretionary, large-ticket home improvement projects is likely to be delayed for some into the fall flooring season, and for others, into spring of 2015.

It’s not the weather – it’s a macro problem…

Our reduced customer traffic coincides with weakness in certain macroeconomic indicators related to residential remodeling. As most of you are aware existing single-family home sales have been down 6% to 8% each month since November of 2013. We believe the flooring market generally has been weaker in the first portion of the current year as compared to the corresponding period in 2013 resulting in tough comparisons we are experiencing from a housing recovery that has been building since the summer of 2011.

* * *

It’s not the weather… it’s the economy, stupid… and Q2 is not looking so good…

As WSJ adds, a number of [retailers] have warned that their customers are delaying purchases amid economic uncertainty.

Improving weather helped drive mall traffic into June from May, according to Thomson Reuters, which administers an index that tracks retail sales.

[BUT] June is typically a tough month as companies ramp up discounts and promotions to clear through inventory ahead of the back-to-school season.

“That’s what’s driving the traffic,” said BlueFin Research Partners retail analyst Rebecca Duval of the higher promotional levels. “The Fourth of July isn’t usually a big shopping holiday, but this year there were big discounts.”

Even though sales “are coming in relatively in line or slightly better than expected, it’s not without cost, and that cost is lower margins,” Ms. Duval warned.

Seems like we are going to need more job cuts and more buybacks.

via Zero Hedge http://ift.tt/1sCiJi7 Tyler Durden

Another Likely End for ENDA—Or Will It Return Even Stronger?

Anybody know whether she's alive or dead these days? It appears as though the
federal Employment Non-Discrimination Act (ENDA)
may be dead again. This legislation—outlawing employment
discrimination on the basis of sexual orientation or gender
identity—has died
more times than the average comic book character.

The last time it died, it was amid a fight over whether to
include gender identity to protect transgender workers. Supporters
and sponsors of ENDA agreed to strip out the transgender
protections to increase the likelihood of legislation passing. This
caused a rift among civil liberties and gay activists groups who
balked at the omission. Despite the “protection for some is better
than protection for none” argument and increasing support from
Republicans, it died in 2011.

Introduced again in 2013 in the House by Rep. Jared Polis
(D-Colo.) and the Senate by Sen. Jeff Merkley (D-Ore.), ENDA made
it farther along the road to passage than it ever has. It passed
the Senate in April of last year, even drawing support from the
likes of Sen. John McCain (R-Ariz.).

But now it looks like it’s going to die again, not at the hands
of Republicans or religious conservatives, but at the hands of gay
and civil rights groups. ENDA excludes religious organizations and
non-profits from its rules and in the wake of the Hobby Lobby
ruling, groups are now withdrawing their support for the law, the
National Gay and Lesbian Task Force and the American Civil
Liberties Union among them. The Human Rights Campaign (HRC) is
still supporting ENDA, just as they did during the kerfuffle over
whether to included transgender workers. They kind of have to—ENDA
is their baby, essentially. Despite having their logo plastered all
over the gay marriage debate, they’ve always been really more about
fighting employment discrimination.

The Supreme Court decision on Hobby Lobby has been tossed out
as an explanation or excuse, but that logic doesn’t exactly follow.
The majority ruling, based on the Religious Freedom Restoration
Act, argued that the government failed to pursue the “least
restrictive means” to achieve its aims of providing access to
contraceptives by requiring employers pay for them. It doesn’t seem
at all likely that, presuming the government could argue it has a
compelling interest in stopping employment discrimination, an
anti-discrimination law wouldn’t pass a “least restrictive means”
test.

Chris Geidner at BuzzFeed (before you dismiss the
source, Geidner does significant amount of reporting on legal
issues affecting the gay community) suggests that this sudden shift
isn’t an implosion, but rather a belief that shifting attitudes
toward gays, lesbians and transgender people mean
even stronger legislation could be introduced and passed:

The real question is what the bill will look like when
introduced in the next session of Congress. Will it only focus on
employment, or will it include additional areas like public
accommodations, housing, education, or lending? And, regarding
today’s debate, will it include a streamlined religious exemption
or will it continue building on this year’s exemption? (None of
this even gets into Republicans’ support for the bill, and whether
their support — from key congressional supporters like Sens. Susan
Collins and Mark Kirk and Rep. Ileana Ros-Lehtinen to the American
Unity Fund and Log Cabin Republicans — is contingent upon the
religious exemption remaining as is.)

Even some of the other organizations still supporting today’s
ENDA, like the National Center for Transgender Equality and Freedom
to Work, signaled to BuzzFeed that next year could be different
with regard to the religious exemption.

While Freedom to Work’s Tico Almeida continues to support ENDA,
as passed by the Senate, he said of the group’s work to lobby for
ENDA this year that “increasing the numbers of co-sponsors of ENDA
this year increases the chances of a stronger bill getting
introduced next year.” When asked if getting “a stronger bill”
included seeking a more narrow religious exemption, Almeida said
that it did.

Support for antidiscrimination laws that protect gays and
lesbians
is high, according to polls, and actually has been for years.
The opponents tend to be the religious for religious reasons and us
libertarians for thinking that “freedom of association” actually
still applies even when we think the outcomes are
reprehensible.

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No One Told Obama About the Alleged Double Agent in Germany

President Barack Obama was, apparently,
completely out of the loop last week when an alleged double agent
working for the CIA was caught in Germany’s intelligence
agency.

The claim raises some eyebrows, and if true, is pretty
embarrassing for the commander-in-chief. He was on an
already-scheduled phone call with Germany Chancellor Angela Merkel
last Thursday, just hours after suspect was arrested. The New
York Times
reports:

Merkel chose not to raise the issue during the call. …

What is particularly baffling to [White House] officials is that
the CIA did not inform the White House that its agent — a
31-year-old employee of Germany’s federal intelligence service, the
BND — had been compromised, given his arrest the day before the two
leaders spoke. According to German news media reports, the agency
may have been aware three weeks before the arrest that the German
authorities were monitoring the man.

A central question, one American official said, is how high the
information about the agent went in the CIA’s command — whether it
was bottled up at the level of the station chief in Berlin or
transmitted to senior officials, including the director, John O.
Brennan, who is responsible for briefing the White House.

The 31-year-old suspect was, apparently, gathering information
on a German committee that was investigating American surveillance
on Germans. German officials
say he sold 218 secret documents for 25,000 euro ($34,000).

A second alleged spy, whose case according to
BBC is “more serious” but believed to be “not connected” to the
first, was also discovered recently and was being investigated
yesterday. Whether or not Obama was informed about this one is
unknown.

The Associated Press
reported earlier that the German government today asked the
latter suspect to leave the country.

German Interior Minister Thomas de Maiziere, who has been
outspoken about the two-part spy scandal took a jab at the U.S. “If
the situation remains what we know now, the information reaped by
this suspected espionage is laughable. However, the political
damage is already disproportionate and serious.”

German officials have expressed indignation about the
revelations and many reports have emphasized the tension this puts
on U.S.-German relations, but given how much the two nations
collaborate with each other on spying, it’s hard to know how much
of an impact this scandal will ultimately have.

For more Reason coverage of this scandal, click

here and
here.

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53% of Millennials Would Vote for a Socially Liberal, Fiscally Conservative Candidate

Reason-Rupe has a new survey and report out on
millennials—find the report
here.

A majority—53 percent—of millennials say they would support a
candidate who described him or herself as socially liberal and
economically conservative, 16 percent were unsure, and 31 percent
would oppose such a candidate.

Interestingly, besides libertarians, liberal millennials are the
most supportive of a libertarian-leaning candidate by a margin of
60 to 27 percent. Conservative millennials are most opposed (43% to
48% opposed).

A libertarian-leaning candidate would appeal to both Democratic
and Republican voters. For instance, 60 percent of Hillary Clinton
voters, 61 percent of Rand Paul voters, 71 percent of Chris
Christie voters, and 56 percent of those who approve of President
Obama all say they would support a fiscally conservative, socially
liberal candidate.

Registered voters are also more likely to favor (58%) this kind
of non-traditional candidate than non-voters (48%).

Support for such a candidate also increases with educational
attainment. Forty-nine percent of those with a high school degree
or less would support a socially liberal, economically conservative
candidate, compared to 63 percent of those with post-graduate
degrees.

Religious millennials are far less likely to support a
libertarian-leaning candidate. Among those who say religion is very
important to them, 43 percent would oppose this non-traditional
candidate, and 44 percent would support. Among those who say
religion is not important to them, 58 percent would support a
libertarian-leaning candidate, and 24 percent would oppose.

While partisanship and voting intention often vary by race and
ethnicity, this is less so for a libertarian-leaning candidate.
Fifty-five percent of both white and Latino millennials would
support such a candidate, while 30 percent would oppose. Slightly
fewer African-American and Asian American millennials would support
the candidate, by a margin of roughly 46 percent in support to 37
percent opposed.

The fact that a socially liberal, fiscally conservative
candidate mainly attracts liberals over conservatives indicates
that social issues rather than economics largely drive millennials’
political judgments. It also suggests millennials are more socially
liberal than they are economically liberal.

To
learn more about millennials, check
out Reason-Rupe’s new report.

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US Responds To China “Global Disaster” Threat By Boosting Military Presence In China’s Back Yard

Just when we thought US foreign policy couldn’t sink to new lows, it does just that. Recall yesterday‘s less than veiled threat by China president Xi Jinping Xi called for greater military communication with the U.S., adding that “A conflict between China and United States will definitely be a disaster for the two countries and the world. As long as we uphold mutual respect, maintain strategic patience and remain unperturbed by individual incidents and comments, we’ll be able to keep relations on a firm footing despite ups and downs that may come our way.” So what does the US do? Nothing short of taking a machete and poking the Dragon in the mouth.

According to the FT, the US is developing new military tactics to deter China’s slow but steady territorial advances in the South China Sea, including more aggressive use of surveillance aircraft and naval operations near contested areas. “Our efforts to deter China [in the South China Sea] have clearly not worked,” said a senior US official.

In other words, the US is doing precisely what China warned not to do, and what according to the Chinese president would lead to “disaster for the two countries.” Because clearly there is nothing a superpower in decline wants to do more than to antagonize its ascendent replacement, and all the other countries like Russia, France and Germany that are gravitating toward its power.

Apparently, the “rethink” comes in the wake of the series of low-level incursions China has used to shift the status quo in one of the vital waterways of the global economy.

So how will the US “escalate” its presence in China without doing its usual bull in a, pardon the pun, China shop routine? That appears to be the problem:

The challenge for the US military is to find tactics to deter these small-scale Chinese moves without escalating particular disputes into a broader military conflict. Every year, $5,300bn of goods cross the South China Sea by ship.

The growing tensions in the South China Sea, which include disputes between China and Vietnam and the Philippines, cast a shadow over the annual meeting between senior US and Chinese officials, known as the Strategic and Economic Dialogue, which started in Beijing on Wednesday.

The US delegation, led by secretary of state John Kerry and Treasury secretary Jack Lew, face the delicate task of trying to shore up an increasingly fragile relationship with Beijing, while laying out American concerns about Chinese maritime expansionism and cyber theft. For their part, the Chinese are irked by US moves to prosecute Chinese military officials over alleged cyber-hacking and by American alliances in Asia which Beijing views as a form of containment.

Apparently the lightbulb moment came when the US “hinted” to China that it has drones. Because China didn’t know that already.

One element of the emerging US strategy was evident in March when the US flew P-8A surveillance planes over the Second Thomas Shoal, an uninhabited atoll in the South China Sea. Chinese ships there were trying to prevent the Philippines from supplying marines who were trying to get essential supplies to a ship that in 1999 was deliberately run aground on a land-feature claimed by both countries. The US planes flew at low altitude to make sure they were visible to the Chinese.

“This is a new dynamic,” said a former Pentagon official familiar with the operation. “The message is, ‘we know what you are doing, your actions will have consequences and that we have the capacity and the will and we are here’.”

A spokesman for the US military’s Pacific Command said that “we do routine operations in these waters and airspace on a regular basis”.

More extensive use of surveillance aircraft in the region could be coupled with a greater willingness to publicise images or videos of Chinese maritime activity. Some US officials believe the Chinese might be given pause for thought if images of their vessels harassing Vietnamese or Filipino fishermen were to be broadcast.

Really? That’s what some US officials think? It never crossed their minds that China actually would love to have its expansive ambitions publicized for the whole world to see, in what following Russia’s annexation of Crimea is nothing short of clear defiance of a hegemon that virtually everyone is now mocking – from Russia to France to Germany, and of course, China.

In the meantime, as if it was possible, more humiliation is coming Obama’s way:

The Obama administration declared South China Sea a US “national interest” in 2010. Since then it has watched China take effective control in 2012 of Scarborough Shoal, 120 nautical miles west of the Philippines’ main island, Luzon. As well as the altercation at the Second Thomas Shoal this year, Manila has accused Beijing of reclaiming land for a runway in a disputed area while China has also placed an oil rig in waters also claimed by Vietnam. Despite Chinese complaints, the US has long conducted aerial surveillance in the region, although the use of its new generation of P-8A planes in contested areas represents an intensification of the activity.

At least one person is not an idiot:

Bonnie Glaser, an Asia expert at the Center for Strategic and International Studies, said that the surveillance flights showed that the US “has an interest in peaceful resolution of these disputes and opposes China’s coercion”. However, she added: “I’m sceptical such flights will deter Chinese behaviour.”

Good, because they won’t. If anything, next China will declare Baja California a “national interest” and start flying its own suerveillance drones over the US. It would be very curious to see just how the US responds to that particular inevitable escalation.

via Zero Hedge http://ift.tt/1qnL6iP Tyler Durden

Q2 GDP Hopes Fade As Wholesale Inventories Miss By Most In 2014

Another day, another uncomfortable fact about Q2 not being the epic bounce back that so many had promised. Wholesale Inventories rose only 0.5% in May – following April’s +1.1%. This is the slowest growth in 2014 and biggest miss of expectations since Dec 2013. Wholesale sales also fel back, missing expectations at +0.7%, to the slowest since Feb as April hopes fade. Cue, Q2 GDP downgrades in 3…2…1…

via Zero Hedge http://ift.tt/1xY3gvN Tyler Durden