We Just Witnessed The Greatest Single Day Loss In World History

More stock market wealth was lost on Friday than on any other day in world history.  As you will see below, global investors lost two trillion dollars on the day following the Brexit vote.  And remember, this is on top of the trillions that global investors have already lost over the past 12 months.  It is important to understand that the Brexit vote was not the beginning of a new crisis – it has simply accelerated a global financial crisis that started last year and that was already in the process of unfolding.  As I noted on Friday, we have been waiting for “the next Lehman Brothers moment” that would really unleash fear and panic globally, and now we have it.  The next six months should be absolutely fascinating to watch.

According to CNBC, the total amount of money lost on global stock markets on Friday surpassed anything that we had ever seen before, and that includes the darkest days of the financial crisis of 2008…

Worldwide markets hemorrhaged more than $2 trillion in paper wealth on Friday, according to data from S&P Global, the worst on record. For context, that figure eclipsed the whipsaw trading sessions of the 2008 financial crisis, according to S&P analyst Howard Silverblatt.

The prior one day sell-off record was $1.9 trillion back in September of 2008, Silverblatt noted. According to S&P’s Broad Market Index, combined market capitalization is currently worth nearly $42 trillion.

And of course many of the wealthiest individuals on the planet got absolutely hammered.  According to Bloomberg, the 400 richest people in the world lost a total of $127.4 billion dollars on Friday…

The world’s 400 richest people lost $127.4 billion Friday as global equity markets reeled from the news that British voters elected to leave the European Union. The billionaires lost 3.2 percent of their total net worth, bringing the combined sum to $3.9 trillion, according to the Bloomberg Billionaires Index. The biggest decline belonged to Europe’s richest person, Amancio Ortega, who lost more than $6 billion, while nine others dropped more than $1 billion, including Bill Gates, Jeff Bezos and Gerald Cavendish Grosvenor, the wealthiest person in the U.K.

Could you imagine losing a billion dollars on a single day?

I am sure that Bill Gates and Jeff Bezos are not shivering in their boots quite yet, but what if the markets keep on bleeding like they did in 2008?

On the other hand, globalist magnate George Soros made a ton of money on Friday because he had positioned himself for a Brexit ahead of time.  The following comes from the London Independent

The billionaire who predicted Brexit would bring about “Black Friday” and a crisis for the finances of ordinary people appears to have profited hugely from the UK’s surprise exit from the EU.

George Soros is widely known as the man who “broke” the Bank of England in 1992, when he bet against the pound and made a reported £1.5bn.

Although the exact amount Mr Soros has gained after Brexit is not known, public filings show he doubled his bets earlier this year that stocks would fall.

So what will happen on Monday when the markets reopen?

Personally, I don’t think that it will be as bad as Friday.

But I could be wrong.

In early trading, Dow futures, S&P 500 futures and Nasdaq futures are all down

Dow futures fell by 90 points in early trading, while S&P 500 futures slipped 11 points, and NASDAQ futures dipped 24 points. Gold futures rose, in a reflection of sustained demand for safe-haven assets.

And at this moment, the British pound is getting absolutely crushed.  It is down to 1.33, and I would expect to see it fall a lot lower in the weeks and months to come.

Why?

Well, the truth is that now that the British people have voted to leave the EU, the globalists have to make it as painful as possible on them in order to send a warning to other nations that may consider leaving.  I think that a recent article by W. Ben Huntexplained this very well…

What’s next? From a game theory perspective, the EU and ECB need to crush the UK. It’s like the Greek debt negotiations … it was never about Greece, it was always about sending a signal that dissent and departure will not be tolerated to the countries that matter to the survival of the Eurozone (France, Italy, maybe Spain).Now they (and by “they” I mean the status quo politicians throughout the EU, not just Germany) are going to send that same signal to the same countries by hurting the UK any way they can, creating a Narrative that it’s economic death to leave the EU, much less the Eurozone. It’s not spite. It’s purely rational. It’s the smart move.

The elite need a crisis now in order to show everyone that globalism is the answer and not the problem.  If the British people were allowed to thrive once they walked away, that would only encourage more countries to go down the exact same path.  This is something that the elite are determined to avoid.

The Brexit vote has barely sunk in, and Bank of America and Goldman Sachs are already projecting a recession for the United Kingdom.  Sadly, I believe that this is what we will see happen.

But it won’t just be the British that suffer.

On Friday, European banking stocks had their worst day ever.  In particular, Deutsche Bank fell an astounding 17.49 percent to an all-time record closing low of14.72.  I have warned repeatedly about the implosion of Deutsche Bank, and this crisis could be the catalyst for it.

In addition, I have repeatedly warned about the slow-motion meltdown that is happening in Japan.  On Friday, Japanese stocks lost 1286 points, and the yen surged in the exact opposite direction that the government is trying to send it…

Tokyo, we have a problem.

Last week, market tumult stemming from the U.K.’s vote to quit the European Union drove the British pound to its weakest levels in three decades.

Yet it also sent investors flocking to traditional safe haven assets like the U.S. dollar, gold and the yen, the latter surging against every major currency as the results of Brexit became clear: Dollar/yenspiked from a Thursday high near 107 to a two-year low near 99.

Just like in 2008, there will be days when global markets will be green.  When that happens, it will not mean that the crisis is over.

If you follow my work closely, then you know that it is imperative to look at the bigger picture.  Over the past 12 months, there have been some very nice market rallies around the world, but investors have still lost trillions of dollars overall.

What happens on any one particular day is not the story.  Rather, the key is to focus on the long-term trends.

And without a doubt, this Brexit vote could be “the tipping point” that greatly accelerates our ongoing woes…

“Brexit is the biggest global monetary shock since 2008,” said David Beckworth, a scholar at the Mercatus Center at George Mason University, in a blog post on Friday. “This could be the tipping point that turns the existing global slowdown of 2016 into a global recession.”

We were already dealing with a new global economic crisis without the Brexit vote.  But what this does is it introduces an element of panic and fear that had been missing up until this current time.

And markets do not like panic and fear very much.  In general, markets tend to go up when things are calm and predictable, and they tend to go down when chaos reigns.

Unfortunately, I believe that we are going to see quite a bit more chaos for the rest of 2016, and the trillions that were lost on Friday may turn out to be just the tip of the iceberg.

Free "dummies guide" to trading options

Did you know trading options can actually be safer and more profitable than buying and selling stocks? Video and plain English training guide reveals how to get started tonight. 100% free.

Download now.

You May Also Like

About the Author: The Economic Collapse Blog

  • JohnDille

    YEAH….RIGHT!!! …. MAYBE IN A COUPLE OF REPUBLICAN STATES!!! THAT IS THE ONLY WAY REPUBLICANS CAN GET LOW INCOME VOTERS TO SUPPORT REPUBLICAN CRIMINALS AND TRAITORS…. OUTSIDE OF BRAINWASHING THEM CONSTANTLY VIA RIGHT WING MEDIA…. WHICH IS THE LARGE MAJORITY OF ALL MEDIA! BESIDES… I HAVE WORKED WITH A NUMBER OF DISABLED AND OTHER LOW INCOME PEOPLE, TOO… AND NEVER ONCE HAS ANYONE ASKED THEM IF THEY ARE REGISTERED TO VOTE WHEN THEY GO IN TO TRY TO GET HELP! NOT EVEN ONCE!!! AT LEAST A THIRD OF MY CO-WORKERS AT WAL-MART WERE “””ENCOURAGED””” BY WAL-MART TO GO SIGN UP FOR FOOD STAMPS AND WELFARE…AND WHEN THEY DID GO SIGN UP FOR FOOD STAMPS OR WELFARE…. THEY WWERE NOT ASKED IF THEY WANTED TO REGISTER TO VOTE!!! NOT EVEN OVERWHELMINGLY REPUBLICAN WAL-MART TRIES TO GET PEOPLE REGISTERED TO VOTE… NOR DO THEY ENCOURAGE PEOPLE TO VOTE! IN THE 5 YEARS I WORKED IN THAT HADES HOLE COMPANY, THEY NEVER ONCE EVEN SAID ANYTHING ABOUT TODAY IS ELECTION DAY… GO VOTE… OR ANYTHING LIKE THAT!!! I HAVE WORKED FOR SEVERAL COMPANIES THAT NOT ONLY ENCOURAGED PEOPLE TO VOTE… BUT THEY WOULD GIVE PEOPLE AT LEAST 2 AND SOMETIMES 4 HOURS TO GO VOTE! REPUBLICANS DO NOT WANT LOWER INCOME PEOPLE TO VOTE… BECAUSE SOME OF THEM MIGHT BE SMART ENOUGH TO VOTE FOR DEMOCRATS!!!! OBVIOUSLY, YOU ARE NOT SUCH A PERSON!!!

  • daniel1154

    Yes they do you fool. I have witnessed it countless times. I do work with disabled individuals and help them get their benefits; food stamps, ssi, Medicaid, etc. The first thing they do is ask them if they are registered to vote, and if the answer is no they give them a voter registration form and strongly suggest they register with the clear implication that they vote the correct way to keep them.

  • JohnDille

    NO THEY DO NOT REGISTER YOU TO VOTE WHEN YOU GO APPLY FOR FOOD STAMPS OR WELFARE. LISTEN, IDIOT… I AM NOT A RIGHT WING REPUBLICAN… SO YOUR LIES AND BALONEY HAVE ABSOLUTELY NO EFFECT ON ME!!! I KNOW THEY ARE LIES AND BALONEY!!! TOO BAD THAT YOU ARE SO NIAVE AND GULLIBLE AND STUPID TO BELIEVE EVEN A WORD OF WHAT YOUR BILLIONAIRE RIGHT WING FASCIST PUPPET MASTERS FEED TO YOU VIA FOX NEWS AND ALL THE OTHER WELL PAID RIGHT WING PROFESSIONAL LIARS THAT ARE SCATTERED ALL OVER THE US MEDIA SYSTEM!!! ARE PATHETIC!!! YOU SHOULD GO TO WORK FOR FOX NEWS… AND GET PAID FOR TELLING LIES, INSTEAD OF PARROTING THEM ALL OVER THE INTERNET… TOTALLY FOR FREE!!!

  • daniel1154

    Man are you naïve. When you go to register for those benefits they register you to vote as well. It’s part of the process. Then the Democrats make certain they get to the polls on election day one, two, three, five or six times.

  • JohnDille

    MOST PEOPLE ON FOOD STAMPS AND ON WELFARE, A WHO GET GOVERNMENT FUNDED MEDICAL CARE, DO NOT VOTE… AND SINCE THE SOLID MAJORITY OF SUCH PEOPLE ARE WHITE FOLKS LIVING IN HEAVILY REPUBLICAN STATES, THE MAJORITY OF THOSE WHO DO VOTE… VOTE FOR REPUBLICANS!! WHICH EXPLAINES WHY REPUBLICANS GET 60 AND 70 PERCENT OF THE VOTE IN A SOLID MAJORITY OF STATES…. MOST OF THEM AMONG THE POOREST STATES IN THE USA!!! BOY… POOR REPUBLICANS ARE EVEN MORE STUPID THAN RICH ONES!!! DANIEL MUST BE A POOR REPUBLICAN… BECAUSE HE IS DUMB AS A ROCK…. AND THAT IS AN INSULT TO ROCKS ALL OVER THE WORLD!!!

  • daniel1154

    Yes, becasuse we know Democrats use the food stamp handout to register new Democrat voters. That is why they expanded the program to 50 million people. Register those new Democrats and get them to the polls at least once.

  • daniel1154

    Yeah, could be a disaster for Democrats if only those eligible to vote actually vote. Democrats need illeagle votes to have a chance.

  • JohnDille

    This could be a DISASTER, John. Republicans are ALL IN on their voter suppression agenda. If we don’t act fast, millions of Dems will be blocked from the polls and Donald Trump’s GOP will win up and down the ballot! We’re waging a knock-down, drag-out campaign to stop the GOP, and we need to protect our right to vote and secure Democratic victory across the country. WE NEED TO STOP GOP VOTER SUPPRESSION TACTICS AND SECURE DEMOCRATIC VICTORY UP AND DOWN THE BALLOT!
    !Bernie Sanders said it right: “All over this country what we are seeing is Republican governors and Republican state legislators making it harder for poor people, for people of color, for young people, for old people to vote.

    And I say to those cowardly [Republican] governors if you are not prepared to engage in a free and democratic election, get another job.”
    POOR REPUBLICANS…. THEY ARE SO UNPOPULAR THAT THE ONLY WAY THEY CAN CONTROL AMERICA IS WITH THE HELP OF THEIR BILLIONAIRE PUPPET MASTERS…. AND BY CHEATING!!! IN THE LAST SE OF REPRESENTIVES ELECTION, DEMOCRATS GOT 1.7 MILLION MORE VOTES THAN REPUBLICANS DID…. BUT REPUBLICANS ENDED UP WITH A 50 PLUS SEAT MAJORITY IN THE HOUSE!!! HOW DID THAT HAPPEN??? OH, YEAH…. REPUBLICANS CHEAT… BIG TIME… AND IN ALL SORTS OF SNEAKY TRICKY WAYS… EFFORTS THAT ARE WELL FUNDED BY THE KOCH BROTHERS AND OTHER RIGHT WING BILLIONAIRES! ALL OF WHICH THE IDIOT PUPPET DANIEL SUPPORTS, WHOLE HEARTEDLY!!! DANIEL IS JUST AN AMERICAN HATING RIGHT WING FASCIST REPUBLICAN AT HEART!!!

  • JohnDille

    Many Republicans are pushing stricter rules for stores that accept food stamps, ultimately determining which retailers win and lose the tens of billions of taxpayer dollars at stake.

    The proposal is throwing gas stations and corner stores into a battle with giants like Wal-Mart Stores Inc. and Kroger Co. over the $74 billion Supplemental Nutrition Assistance Program, or SNAP.

    At a time when sales growth is hard to come by, redeeming food stamps is critical for grocers. Last year, SNAP funds comprised an average of 5.8% of sales at participating stores, according to a poll of 6,500 stores by the Food Marketing Institute, a trade group.

    Big supermarket chains like Wal-Mart already happen to meet the tougher requirements because of their breadth of inventory. But some 195,000 smaller stores would have to add as many as 168 items to their shelves—a move they say would be costly and unprofitable, given their limited shelf space and spoilage issues for fresh food.

    The new stocking requirements are challenging, said Noon’s Food Stores, a chain of three in Missoula, Mont. “Unlike corporate grocery stores, or big-box stores like Wal-Mart that literally have acres of space under one roof, our stores are each around 2400 sq. ft. in total,” President Dirk Cooper said in a letter to the USDA.

    He said the proposed rules benefit large retailers by sending SNAP customers their way when small stores like his are forced out of the program.

    The Republican proposal marks one of the biggest overhauls to SNAP in its 52-year history, aiming to increase access to healthy food for low-income people. Republicans insist that these new rules are important, because people on SNAP should not be able to buy soda pop and chips and other junk food items.

    Smaller stores such as conveniences stores and gas stations would need to increase their offerings of protein, dairy and bread products as well as fruits and vegetable offerings to accept food stamps, according to proposed requirements. To reach the new minimums, regulators suggest stocking tofu and goats milk, which stores say people don’t want to and can’t afford to buy.

    More than 45 million people received SNAP funds last year, at an average of $126.83 a month, up from three million people in 1969 receiving $42.82. When adjusted for inflation. food stamp recipients get about a third of what they did back then. About 265,000 stores redeem those food stamps.

    Al Patel, a manager at a Snappy Convenience Store in Chicago, said his customers use food stamps to buy chips and soda. Adding coolers with fresh meat probably won’t change that. “We tried that a long time ago,” but we didn’t sell much, he said. “We don’t need any food police”, he added.

    The proposal more than doubles the varieties of meats, dairy products, breads, and fruits and vegetables that SNAP retailers would have to stock, requiring at least six of each item on shelves. Republicans do not want prepared meals, like frozen dinners and canned soup, to count toward those minimums, though shoppers could still buy them with food stamps.

    They suggest that stores add shrimp, lamb or tofu to reach the higher bar, but convenience store owners say those aren’t foods their customers want—or can afford—to buy.

    Going further, the proposal bars retailers from SNAP if they receive more than 15% of their sales from hot food or if a fast-food chain, like KFC or Subway, operates under the same roof. The goal is to prevent restaurants from redeeming food stamps, since the program is meant to help people buy groceries, Mr. Concannon said. But industry groups say it would force out thousands of SNAP retailers.

    Wal-Mart hasn’t taken a stance for or against the changes, but a spokesman said the company believes in providing families access to affordable, fresh foods. In 2013, Wal-Mart said it received about 18% of SNAP funds, which amounted to some $14 billion, or 9% of its U.S. grocery sales.

    When the government reduced SNAP funding nationwide a few years ago, retailers said it significantly hurt their sales. Kroger and other stores won’t say how much SNAP revenue they receive, and the USDA won’t disclose that information. Kroger also owns convenience stores that it says would be negatively affected by the rules.

    The proposed rules, which date back to the 2014 Farm Bill, are also getting a cold reception Democrats in Congress, where both houses are expected in coming weeks to vote on amendments that would block the most controversial aspects of the rules.

    Write to Annie Gasparro at annie.gasparro@wsj.com and Heather Haddon
    REPUBLICAN FOOD FIGHT!!! SELF RIGHTWOUD REPUBLICANS WANT POOR PEOPLE TO EAT LIKE RICH PEOPLE DO… BUT REFUSE TO FUND THE FOOD STAMP PROGRAM WELL ENOUGH FOR PEOPLE TO BE EVEN ABLE TO BUY MUCH OF ANY FOOD, AT ALL!!! TYPICAL REPUBLICAN ARROGANCE AND HYPOCRISY!!!

  • daniel1154

    They lined up the super delegates to give Clinton a coronation before the process even started. She did not win enough to get the nomination. Everyone know it was fixed except Bolshavek Bernie.

  • JohnDille

    HOW WOULD YOU KNOW ANYTHING AT ALL ABOUT THE DEMOCRATIC PARTY AND WHAT HAPPENS IN THAT PARTY!!! OH… YEAH…. YOU GET ALL YOUR INFORMATION ABOUT DEMOCRATS FROM FOX NEWS AND L THE MANY OTHER RIGHT WING PROFESSIONAL LIARS AND ALL AROUND AMERICA HATERS!!! WHICH MEANS THAT EVERYTHING YOU THINK YOU KNOW… IS BASED ON LIES AND SLANDERS AND LIBELS! IN SHORT… YOU ARE JUST ANOTHER BRAIN DEAD RIGHT WINGER!!! WHEN YOU ARE NOT BUSY PRETENDING TO BE A HUMAN BEING, THAT IS!!! YOU SHOULD GIVE THAT UP… YOU ARE VERY POOR AT PRETENDING!!!

  • daniel1154

    But the fix was in and crazy Bernie had no chance at the Democrat nomination. All of the Democrats knew that except Crazy Bernie, who apparently did not get the message. So he went out and embarrassed Hillary Clinton, exposing what a weak candidate she is.

  • JohnDille

    John,

    Over the past year, we watched Bernie Sanders build a remarkable movement of people, especially the youth, who have responded to and embraced with passion his progressive messages: people-first policies like state-funded childcare, paid family leave, universal healthcare, and free tuition at public colleges and universities.

    We’ve also witnessed Hillary Clinton run an issues-oriented campaign focused on protecting women’s rights, protecting voting rights, ending mass incarceration, and doing something effective and realistic about immigration reform, and, finally, to make history as the first female presidential nominee of a major political party, in almost 240 years of American history..

    Now, as the 2016 campaign enters its final phase, The Nation’s ability to cover the candidates, the voters, and the issues that matter most has never been more important.

    It will also give us the resources to open our print and online pages to voices whose perspective is essential to understanding this unprecedented moment.

    People like Ari Berman, who’s writing about the Republican all-out assault on voting rights; Joan Walsh, who’s dissecting what’s behind the Republican Party’s implosion; Mychal Denzel Smith, whose articles on race and justice have resonated with millions of readers all over the world; D.D. Guttenplan, who will continue to report on the fresh faces of the Sanders revolution; and Julianne Hing, who’s embedded with immigrant-rights activists as they face an unparalleled threat. At a time when press freedom is under assault from the presumptive Republican nominee, The Nation’s commitment to asking tough question and holding the powerful accountable will continue, as it has for more than 150 years. With you at our side, we’ll stand fast against bombast and insults, and keep our eyes squarely on the issues that matter most to our country and to readers like you.

    You enable us to invest more—not less—in our journalism, while still having the means to launch bold new programs and support young writers.

    The engagement of an informed populace has never mattered more. I’m proud of the unique role The Nation plays in that goal, and grateful every day that you are part of this community.

    At this moment when so much is at stake, I hope we can count on you to stand with The Nation as we work to make sense of it all for you.

  • daniel1154

    Democrats are interested in destroying the United States and they’ve done a great job of it since 2009.

  • JohnDille

    WHAT A STUPID WASTE OF PIG FLESH YOU ARE!! MAYBE YOU SHOULD SEE FOR YOURSELF WHAT DEMOCRATS ARE REALLY INTERESTED IN TRYING TO DO…. NOT THAT YOU WOULD ACTUALLY UNDERSTAND ANY OF THAT!!!
    I see myself in these girls, I see my daughters in these girls, and I simply cannot walk away from them.” — First Lady Michelle Obama

    Imagine being told that you are not allowed to go to school. Imagine being told that an education — one of the most fundamental building blocks for a healthy, long, and fulfilling life — is simply not an option for you.

    It’s hard, right? But, for millions of girls around the world, it’s a reality. In fact, more than 62 million girls — half of them adolescents — are not in school. Millions more are fighting just to stay there. These girls deserve a chance to fulfill their potential. All girls deserve that chance.

    That’s why, as part of the Let Girls Learn initiative, First Lady Michelle Obama is traveling this week to Liberia, Morocco, and Spain to meet with young women and girls — and to talk about why getting an education is something that every girl deserves.

    First Lady Michelle Obama participates in a roundtable discussion with Freida Pinto and students, in support of the Let Girls Learn initiative, at R.S. Caulfield Senior High School in Unification Town, Liberia, June 27, 2016. (Official White House Photo by Amanda Lucidon)

    Around the world, a girl can face complex physical, cultural, and financial barriers to education. She may have a long, unsafe walk to school from a remote village. Sometimes, even when a school is nearby, it may not have adequate bathroom facilities for girls — meaning that female students have to stay home when they have their period. And, even after overcoming all of these obstacles, she may face school fees that her family cannot afford to pay.

    Yet, we know that educating young girls has a tremendously positive impact on the world. Girls who are educated earn higher salaries, raise healthier families, and can even boost their countries’ economies with their contributions to the workforce. That’s why, when girls receive equal educational opportunities, it can transform lives, families, communities — entire countries. That’s why the stories of the girls the First Lady is meeting with this week are so important to share.
    CONDITIONS IN AFRICA TODAY ARE NOT MUCH DIFFERENT THAN CONDITIONS FOR MOST BLACK PEOPLE RIGHT HERE IN THE USA, AS RECENTLY AS 40 AND 50 YEARS AGO! AND YOU CANNOT TELL ME OTHERWISE… I HAVE SEEN… FIRST HAND… HOW BLACK FOLKS HAD TO LIVE… MOST ESPECIALLY IN THE DEEP SOUTH…. DURING MY OWN LIFE TIME. AND IT IS THOSE BARBARIC CONDITIONS THAT YOU STUPID ARROGANT IGNORANT REPUBLICANS WANT TO BRING BACK AGAIN…. IN PART BY KEEPING BLACK PEOPLE FROM VOTING…. JUST LIKE CONSERVATIVES DID FOR HUNDREDS OF YEARS… PRIOR TO THE CIVIL RIGHTS EFFORTS OF THE 1960S AND 1970’S!!! AND IT IS CLEAR FROM YOUR COMMENTS THAT YOU ARE JUST ANOTHER RIGHT WING BIGOT WHO WANTS TO CRAM JIM CROW AND SEGREGATION DOWN THE THROATS… NOT JUST OF BLACK PEOPLE… BUT OF ANYONE WHO DARES TO CHALLENGE THE CORPORATE FASCISM THAT YOU REPUBLICANS LOVE AND SUPPORT SO TOTALLY!!!

  • daniel1154

    Democrats benefit from voter fraud enormously. That is why they oppose a simple ID law.

  • JohnDille

    NO…. DEMOCRATS ARE FIGHTING AGAINST VOTER ID LAWS BECAUSE IT DISENFRANCHIES MILLIONS OF PEOPLE… MOST OF THEM ELDERLY, CRIPPLED, POOR, AND MOST OFTEN… BLACK! REPUBLICANS ARE DOING THAT IN AREAS THAT HAVE RELATIVELY FEW HISPANIC VOTERS…. REPUBLICAN DOMINATED STATES STARTED ALLOWING RICH REPUBLICAN BUSINESS PEOPLE TO START HIRING SO MANY ILLEGALS, OVER THE PAST 30 TO 35 YEARS OR SO… TO REPLACE THE BLACK PEOPLE THAT REPUBLICANS REFUSE TO HIRE…. THUS MOST REPUBLIAN STATES HAVE HIGH GROWTH RATES OF HISPANIC POPULATIONS… BUT STILL HAVE LOW OVERALL NUMBERS OF HISPANICS! TEXAS IS ONE OF THE FEW EXCEPTIONS TO THAT TREND…. IT HAS HAD A VERY LARGE HISPANIC POPULATION FOR ITS ENTIRE HISTORY…. JUST AS FLORIDA HAS HAD! BUT… SINCE HISPANICS TEND NOT TO VOTE… FOR ANYONE… THE LARGE NUMBER OF HISPANICS IN TEXAS HAS HAD NO IMPACT ON TEXAS’ DRIFT TOWARD BEING TOTALLY DOMINATED BY REPUBLICANS OVER THE PAST 40 PLUS YEARS OR SO!!! MOSTLY, THE OLD CONSERVATIVE DEMOCRATS HAVE MOVED INTO THE REPUBLICAN PARTY… AND HAVE TAKEN OVER THE REPUBLICAN PARTY WITH THEIR BIGOTTED AND DIVISIVE AND HATE FILLED ATTITUDES AND POLICIES! WHICH EXPLAINS WHY THE REPUBLICAN PARTY NOW SO STRONGLY SUPPORTS A RICH AND LOUD MOUTH VERSION OF ADOLPH HITLER! NO DOUBT, YOU SUPPORT THAT IDIOT, AS WELL!!! BUT THIS ALSO EXPLAINS WHY REPUBLICANS ARE PUSHING VOTER ID LAWS…. MOST STRONLY IN AREAS WITH LARGE NUMBERS OF BLACK VOTERS!!! VOTER ID LAWS ARE MEANT TO KEEP BLACK PEOPLE FROM VOTING! HISPANICS ARE MOSTLY IRRELEVANT… BECAUSE THEY DO NOT VOTE… AND THERE ARE NOT THAT MANY OF THEM IN MOST STATES!!! YOU WOULD KNOW THAT IF YOU YOURSELF WERE NOT SUCH A BRAIN WASHED RIGHT WING REPUBLICAN BIGOT!!!

  • daniel1154

    Illegals vote illeagally along with many other Democrat voters. That is why the Democrat party fights against voter ID laws.

  • JohnDille

    THAT IS NOT WHAT THE FACTS SAY… AND THAT IS NOT HAT HISTORY SAYS!!! ILEGALS CANNOT VOTE… REGARDLESS OF WHAT YOU REPUBLICANS SAY!! AND HISPANICS HAVE VERY LOW VOTER TURN OUT RATES, EVEN IF THEY ARE LEGAL! SO… YOUR COMMENT IS JUST FLAT OUT STUPID… PRETTY MUCH THE NORM, FOR YOU AND MOST OTHER RIGHT WINGERS!!!

  • daniel1154

    Democrats imported the illegals for their votes. They come needing social services and are therefore pre-screened Democrat voters.

  • JohnDille

    GEE… HOW DID THAT HAPPEN???? OH, YEAH… REPUBLICANS HIRED SO MANY MILLIONS OF ILLEGALS THAT ALL THOSE ILLEGALS SETTLED IN MUCH OF CALIFORNIA… TOOK ALL THE JOBS AWAY FROM AMERICNS… BECAUSE REPUBLICANS REFUSED TO HIRE PEOPLE BORN IN AMERICA…. AND NOW… ALL THE WHITE REPUBLICANS HAVE FLED THE STATE, SO DEMOCRATS HAVE TAKEN OVER, AND HAVE TO CLEAN P THE HUGE MESS THA REPUBLICANS LEFT THEM! THIS EXACT SAME THING HAPPENED IN DETROIT AND MANY OTHER MAJOR CITIES IN THE USA… EXCEDPT IT WAS BLACK FOLKS FROM THE DEEP SOUTH WHO GOT PREFERENTIALLY HIRED, INSTEAD OF ILLEGALS! AND NOW…. REPUBLIVCANS MAKE A LOT OF HAY BLAMING DEMOCRATS FOR MASSIVE PROBLEMS THAT REPUBLICANS THEMSELVES CAUSED!!! AND PUPPETS LIKE DANIEL ARE TOO STUPID TO EVEN REALIZE ANY OF THAT!!!

  • daniel1154

    California is just one of the states that the Democrat party ruined.

  • JohnDille

    IT WOULD PROBABLY BE INTERESTING TO KNOW WHAT THE ACTUAL TRUTH IS ABOUT HOW THINGS ARE GOING IN CALIFORNIA!!! BUT ONE THING IS CERTAIN, WE WILL NEVER FIND OUT BY LISTENING TO SOME RIGHT WINGER WITH AN AXE TO GRIND… LIKE THE FELLOW WHO WROTE THE QUESTIONABLE STUFF ABOVE!!! ALL I KNOW IS THAT I HAVE LIEVED IN CALIFORNIA… SEVERAL TIMES, AND THAT THE REPUBLICANS WHO RAN THINGS BACK THEN HAD PRETTY MUCH THE SAME PROBLEMS AS JERRY BROWN FACES TO DAY…. EXCEPT CALIFORNIA HAS TO DEAL WITH A NET INFLUX OF PEOPLE FROM OTHER STATES, BECAUSE… ON A NET BASIS… A LOT MORE PEOPLE ARE COMING INTO CALIFORNIA THAN ARE LEAVING!

    California tops other states in job growth

    MONDAY AUG. 3, 2015

    SACRAMENTO — For years, business lobbyists complained about what they derided as “job killer” laws that drive employers out of California.

    Rival state governors, notably former Texas Gov. Rick Perry, made highly publicized visits to the Golden State in hopes of poaching jobs. While other states continue to chase us, we’re chasing our California-sized ambitions. – Kish Rajan, director of the Governor’s Office of Business and Economic Development, on California’s ability to create jobs

    But new numbers from the U.S. Bureau of Labor Statistics tell a different story. Total jobs created in the 12 months ending Jan. 31 show California leading other states. California gained 498,000 new jobs, almost 30% more than the Lone Star State’s total of 392,900 for the same period.

    Florida came in third with 274,100 new jobs, followed by New York with 157,700 and Georgia with 131,900.

    “These data explain why so many governors are coming to California in search of jobs,” said Stephen Levy, director of the Center for the Continuing Study of the California Economy in Palo Alto. “The state has just set records,” he noted in terms of its share of venture capital funding, exports, tourism and tech growth.

    Though solid expansion continued in the tech-heavy San Francisco Bay Area, the latest figures reflected an unforeseen jump in Southern California employment.

    Preliminary totals for new jobs in the Los Angeles Basin were raised by 109,900 for the year ending in January. The biggest jumps were 58,200 for the Los Angeles metropolitan area and 34,800 for the Inland Empire. Tourism, international trade, development of a regional tech sector and an uptick in construction contributed to the Southern California boomlet, Levy said.

    The leap in job creation shows that California is a leader in the global economy, said Kish Rajan, director of the Governor’s Office of Business and Economic Development. “While other states continue to chase us,” he said, “we’re chasing our California-sized ambitions.”

    AND NO… THAT DOES NOT EVEN COUNT ILLEGALS, WHO MOSTLY COME AND GO DEPENDING ON HOW MUCH FARM AND CONSTRUCTION WORK IS AVAILABLE FOR THEM TO DO. THE LAST COUPLE OF YEARS HAVE NOT BEEN GOOD FOR ILLEGALS… BECAUSE OF THE CONTINUING DROUGHT… SO ILLEGAL POPULATIONS IN CALIFORNIA ARE ALMOST CERTAINLY MUCH LOWER THAN THEY WERE BACK BEFORE OBAMA BECAME PRESIDENT, AND STARTED CRACKING DOWN… VERY HARD… ON ILLEGALS!!!

  • daniel1154

    According to Jerry Brown, except it’s not true. All California leads the nation in is losing it’s population:

    California thinks it leads the nation

    By Steven Greenhut / February 3, 2016

    By Steven Greenhut

    SACRAMENTO — Everything is rosy in California, according to Gov. Jerry Brown and state legislators. In fact, California’s comeback is so seemingly spectacular that some observers are half-seriously arguing that the 75-year-old Brown should gear up a presidential run in 2016. California, say some of the nation’s elite media, is the model for the nation.

    Those of us who live here are scratching our heads. California’s state government is awash in debt, with hundreds of millions of dollars in unfunded liabilities to pay for its most-generous-in-the-nation pension and medical system for government employees. The state’s brutal prison system is under the control of federal judges because of repeated civil-rights violations.

    In most areas, the state’s taxpayers pay the most in the nation for public services and get the least amount in return. The Census Bureau and other studies show the state with the highest poverty rate in the nation by far when cost-of-living factors are taken into consideration. By almost any measure, California is one of the most regulated, highly taxed states — and business owners continue to flee for friendlier climes.

    Yet in his recent State of the State address, Brown — to thunderous applause from Democratic leaders in the Assembly chambers — mocked the folks he routinely refers to as “declinists” who refuse to recognize the amazing feats that have been accomplished under his watch.

    Brown and his allies are happy for one reason. The state, which had been struggling with billions of dollars in predicted budget deficits, has managed to close the budget hole and even show a few billion dollars in likely “surpluses” in the coming years. The budget has always been an annual stumbling block, and now that problem is “fixed.”

    Brown accomplished this feat by convincing voters to support a massive sales- and income-tax hike, and the result has been an influx of new revenues. It looks increasingly unlikely that the tax hike was even needed given the growing revenues from a somewhat rebounding economy. Brown, at a recent press conference, wouldn’t say if the taxes were needed, but said that he certainly plans to use them.

    So there’s more money to spend, and the governor’s budget — by California standards, any way — was reasonably responsible. His Democratic allies in the Legislature can’t wait to spend billions of additional dollars on new programs — such as a free universal preschool plan — but Brown is hiking spending on existing programs only and diverting a lot to pay back money the state borrowed to meet its bills during tough times.

    But while the proposed budget doesn’t go wild — and that’s been a big concern now that Democrats have super-majorities in both houses of the Legislature, and control every state constitutional office — it isn’t anywhere close to being balanced if one takes the state’s debts seriously.

    For instance, the governor punts on the massive liabilities facing the state teachers’ retirement system, which needs an additional $4.5 billion a year from the general fund to stay afloat. He punts on retiree medical benefits that should claim another $3 billion each year. It doesn’t address other major unfunded liabilities, for the California Public Employees’ Retirement System or for the state’s unemployment insurance system. Note that any supposed surplus has been long gone when these items are considered.

    So the state’s budget is balanced in the same way that one’s personal budget is balanced if one can barely make the minimum payments and simply ignores a crushing level of debt and serious maintenance issues all around the house. The governor’s main goal has been consistent — to protect the public sector unions, which have been the key to his winning elections, from any serious reforms in benefit levels. And nothing will improve in California until these muscular special-interest groups are tamed.

    Nothing is being reformed. The state’s unions are looking for even higher salaries and the pension systems are in trouble. Attorney General Kamala Harris, another tool of the public-employee unions, recently besmirched her office by issuing a misleading summary to a statewide ballot initiative that would allow localities to rein in their pension costs. That summary — the main thing voters read before voting on these ballot measures — suggested that the measure would eliminate pension benefits rather than limiting them going forward. But supporters are now taking the matter to court — something that will probably delay the campaign until 2016. That means two more years with no likely reform.

    That’s because the state Legislature has made it clear that pension reform isn’t on its agenda. Officials passed a tiny measure last year that was good mainly for PR value, and now they say that the pension system is fixed — despite the growing debts.

    Everything the state touches is a mess. A recent Capitol hearing spotlighted whistleblowers from the California Department of Transportation (Caltrans), who alleged that the state ignored warnings about highway employees who falsified test data on the new eastern span of the San Francisco-Oakland Bay Bridge and ignored other safety warnings. State auditors have released multiple reports about Caltrans’ incompetence, but nothing changes. Some officials blamed the problems for the fast-tracking of the bridge project — a plausible argument until one realizes that the state has been working on replacing the bridge for the past 24 years.

    California is facing one of its worst-ever droughts. Brown and other officials are blaming global warming and climate issues, but the real problem is the state has been opposed to building more water storage facilities. In fact, the state and feds have been trying to demolish dams to restore natural habitats.

    Despite a lack of money, Brown is pitching a plan to build a high-speed rail system which in its current form is not particularly fast and it violates the terms of the ballot initiative approved by voters in 2008. That will cost at least $68 billion.

    Yet California officials believe that all is well, that the main problems in California stem from the private sector, and that there’s virtually nothing that more regulation and higher taxes won’t fix. Eastern pundits have picked up the theme of the California Miracle and Brown the Fixer, but that narrative only works if readers ignore most of the readily available facts. But I suppose pointing this out only makes this columnist a declinist, even though I love my home state and want to see it boom once again.

  • JohnDille

    ACTUALLY… CALIFORNIA LEADS THE NATION IN JOB CREATION AND IN WAGE GROWTH…. AND PAYS TENS OF BILLIONS IN ADDITIONAL FEDERAL INCOME TAXES JUST TO SUPPORT TEXAS AND OTHER DEAD BEAT REPUBLICAN STATES! IN FACT… RIGHT NOW… TEXAS IS IN THE MIDDLE OF YET ANOTHER ECONOMIC CRISIS, BECAUSE OF LOW OIL AND GAS PRICES, AND PEOPLE ARE FLOCKING TO CALIFORNIA FROM TEXAS TO GET WORK… OR… IN THE CASE OF REPUBLICANS… TO GET WELFARE AND FOOD STAMPS! THAT IS THE REAL REASON THAT DEMOCRATIC STATES HAVE HIGH FOOD STAMP AND WELFARE COSTS… THEY HAVE TO SUPPORT MILLIONS OF PEOPLE COMING IN FROM REPUBLICAN STATES!!! HERE IN IDAHO… WHEN THE ECONOMY SOURS… THOUSANDS OF PEOPLE HEAD FOR CALIFORNIA!!! WE… IN TURN… GET ALL THE WHITE REPUBLICANS RUNNING AWAY FROM THE MESS THAT THEY CREATED BACK WHEN REPUBLICANS SO TOTALLY CONTROLLED CALIFORNIA… SSENTIALLY MOST OF CALIFORNIAS HISTORY UP UNTIL THE LATE 1980’S…. NOT COUNTING THE FRANKLIN ROOSEVELT AND HARRY TRUMA YEARS… WHEN FEDERAL SPENDING FOR MILITARY AND RELATED SUPPORT OPERATIONS MADE CALIFORNIA BY FAR THE FASTEST GROWING STATE IN AMERICAN HISTORY!!!

  • daniel1154

    Really. Texas leads the country in job growth and growth in wages. There are however a lot of Democrat States that have high paying Government jobs that are on the verge of going bankrupt as a result.

  • JohnDille

    THE NUMBERS ARE CRYSTAL CLEAR…. IF YOU WANT A JOB… ESPECIALLY ONE THAT PAYS A DECENT WAGE…. GO TO A DEMOCRATIC STATE!!! THERE IS A VERY HIGH CORRELATION BETWEEN HOW STRONLY REPUBLICAN A STATE IS… AND HOW LOW ITS WAGES ARE… AND IN HOW MANY PEOPLE ARE ON WELFARE AND FOOD STAMPS, ETC. THE ONLY WAY TO EXPLAIN THAT CORRELATION IS TO TELL THE TRUTH…. REPUBLICAN STATES MAKE IT POSSIBLE FOR BUSINESS PEOPLE TO DRIVE DOWN WAGES TO THE LOWEST POSSIBLE LEVELS, AND TO HIRE ILLEGALS WHO CAN BE EASILY CHEATED, AND TO THUS FORCE WORKERS TO GET FOOD STAMPS AND WELFARE… OR TO STARVE ON THE STREETS… EVEN WHILE WORKING FULL TIME!!! I KNOW EXACTLY HOW THAT WORKS… IDAHO VOTES ALMOST 70% REPUBLICAN…. AND HAS JUST ABOUT THE LOWEST AVERAGE WAGES IN THE NATION!!! ONLY A COUPLE OF SOUTHERN… VERY SOLIDLY REPUBLICAN STATES… COMPETE WITH IDAHO FOR THE LOWEST WAGES IN AMERICA ON A YEAR TO YEAR BASIS!!! 18 OF THE 25 POOREST STATES IN AMERICA ARE SOLIDLY REPUBLICAN… AND 5 OF THE OTHER 7 LEAN REPUBLICAN!!! JUST ANOTHER SET OF INCONVENIENT TRUTHS FOR YOU REPUBLICANS TO LIE YOUR WAY OUT OF!!! WHICH YOU DO ON A REGULAR BASIS!!!

    With Barack Obama’s historic election in 2008, pundits proclaimed the Republicans as dead as the Whigs of yesteryear. Yet even as Democrats swooned, a small cadre of Republican operatives, including Karl Rove, Ed Gillespie, and Chris Jankowski began plotting their comeback with a simple yet ingenious plan. These men had devised a way to take a tradition of dirty tricks―known to political insiders as “ratf**king”―to a whole new, unprecedented level. Flooding state races with a gold rush of dark money made possible by Citizens United, the Republicans reshaped state legislatures, where the power to redistrict is held. Reconstructing this never- told-before story, David Daley examines the far-reaching effects of this so-called REDMAP program, which has radically altered America’s electoral map and created a firewall in the House, insulating the party and its wealthy donors from popular democracy. Ratf**ked pulls back the curtain on one of the greatest heists in American political history.

    About the Book

    The explosive account of how Republican legislators and political operatives fundamentally rigged our American democracy through redistricting.

    About the author

    David Daley is the editor in chief of Salon and the Digital Media Fellow for the Wilson Center for Humanities and the Arts and the Grady School of Journalism at the University of Georgia. He lives in Brooklyn, New York. AND HERE WE HAVE YET ANOTHER OPPORTUNITY FOR YOU TO LIE YOUR WAY OUT OF YET ANOTHER UNPLEASANT TRUTH ABOUT JUST HOW CRIMINAL THE REPUBLICAN PARTY REALLY IS!!!

  • daniel1154

    It would be good for the country if all Democrats that worked walked off the job, because the few that have jobs are in Government jobs where they produce nothing but regulation and misery. Democrats are mostly unemployed and unemployable so they are either on welfare, or Government employment, which is just another form of welfare.

  • JohnDille

    THIS MAY COME AS A TOTAL SHOCK TO YOU…. BUT IF ALL THE DEMOCRATS WHO WORK JUST WALKED OFF THE JOB, THE US ECONOMIC SYSTEM WOULD TOTALLY COLLAPSE…. AND YOU DEAD BEAT REPUBLICANS WOULD HAVE TO MOOCH OFF OF EACH OTHER… OR STARVE! THAT WOULD BE FUN TO WATCH!!!

  • daniel1154

    How about the Clintons and the Elizabeth Warrens of the world who have lived off ripping off taxpayers their entire lives. Never worked a job in their life, like most Democrats.

  • Joe Cabot

    If you took the time to read instead of moving straight into tantrum mode, you would see the Koch brothers and the Waltons on the list. Surrounded by plenty of lefties, but they are there. Positively though, I guess that this means that democrats can sit around fantasizing about using democrat propaganda to get extremely wealthy too!

  • JohnDille

    JUST OUT… A NEW LISTING OF THE WORLDS MOST OBSCENELY RICH PEOPLE!!! NOW REPUBLICANS ALL OVER AMERICA CAN FANTASIZE ABOUT HOW… THEY TOO… CAN SOME DAY BECOME BILLIONAIRES IF THEY JUST CONTINUE TO SWALLOW REPUBLICAN PROPOGANDA WHOLE!!! REPUBLICANS REALLY LOVE THEIR HORSE MANURE… FRESH RIGHT OUT OF THE FOX NEWS BARN AND OTHER REPUBLICAN CONTROLLED MEDIA STABLES AND LIVESTOCK YARDS!!! Forbes just released their annual report on the richest people. And there’s only one real surprise on the list.

    1,810 billionaires made this year’s World’s Billionaires List, with a total net worth of $6.48 trillion, down from $7.05 trillion last year. Altogether, 221 former billionaires dropped out of the rankings, while 198 newcomers joined for the first time.

    Bill Gates is the front runner with a $75 billion net worth. Close behind him is Amancio Ortega with $67 billion, and Warren Buffett with a whopping $60.8 billion.

    Hedge Fund Managers, George Soros and Carl Icahn fall in at numbers 23 and 43, with $24.5 billion and $17 billion respectively. WE CAN WONDER WHY FORBES DID NOT LIST THE WALTON CLAN AND THE KOCK BROTHERS??? ALL 6 OF THOSE BILLIONAIRES ARE SOLID REPUBLICANS…. AND ALL WOULD RANK MUCH HIGHER THAN SOROS… THE ALLEGED DEMOCRAT SUPPORTER WHO ACTUALLY SUPPORTS ALMOST AS MANY REPUBLICANS AS HE DOES DEMOCRATS!!! IN ANY CASE… THESE 1810 BILLIONARES HAVE A GREATER NET WORTH THAN THE BOTTOM 5 BILLION PEOPLE ON EARTH… COMBINED…. AND SOMEHOW, THAT JUST SEEMS TOTALLY AND COMPLETELY OBSCENE!!! BUT NOT TO A REPUBLICAN, OF COURSE!!!

  • daniel1154

    Now there is the Dillie that we all know and laugh at. You didn’t disappoint.

  • JohnDille

    WHAT…. YOU ARE TOO STUPID TO KNOW THE ANSWER TO THAT QUESTION??? WHAT ARE YOU… 5 YEARS OLD AND TOTALLY OBLIVIOUS TO HOW THE REAL WORLD WORKS??? OR… JUST ANOTHER TOTALLY CLUELESS RIGHT WING REPUBLICAN??? OOPS… THOSE ARE THE SAME THINGS, AREN’T THEY??? SORRY, 5 YEAR OLDS… I JUST UNINTENTIONALLY INSULTED YOU ALL… BIG TIME… BY COMPARING YOUR INTELLECTUAL CAPACITIES TO THOSE OF RIGHT WING REPUBLICANS!!! SORRY ABOUT THAT… THAT INSULT JUST SLIPPED OUT!!!

  • JohnDille

    And of course many of the wealthiest individuals on the planet got absolutely hammered. According to Bloomberg, the 400 richest people in the world lost a total of $127.4 billion dollars on Friday… GEE… THAT WOULD HAVE BEEN ENOUGH TO FUND THE FOOD STAMP PROGRAM AND THE THE MOST IMPORTANT WELFARE PROGRAM IN THE UINITED STATES… FOR AN ENTIREW YEAR!!! AND THESE IDIOTS LOST THAT MUCH… IN ONE DAY… IN THE CASINOES… THE WALL STREETS… OF THE WORLD!!! THEY HARDLY NOTICED… BUT THAT MUCH MONEY WOULD LIFT TENS OF MILLIONS OF PEOPLE OUT OF POVERTY, SINCE MOST OF TH POOR PEOPLE OF THE WORLD LIVE ON LESS THAN 5 DOLLARS A DAY, AND A WINDFALL OF A MERE $1,000 OR TWO COULD TOTALLY TRANSFORM THEIR LIFES… MOSTLY FOR THE BETTER!!!

    The world’s 400 richest people lost $127.4 billion Friday as global equity markets reeled from the news that British voters elected to leave the European Union. The billionaires lost 3.2 percent of their total net worth, bringing the combined sum to $3.9 trillion, according to the Bloomberg Billionaires Index. GEE… THE 400 RICHEST PEOPLE ON EARTH COULD… IN THEORY… FUND THE ENTIRE UNITED STATES FEDERAL GOVERNMENT FOR AN ENTIRE YEAR???? WE CAN WONDER WHAT THE RICHEST 10 MILLION PEOPLE COULD DO, WITH JUST A SMALL FRACTION OF THEIR NET WORTH!!! MOST LIKELY, THEY COULD VIRTUALLY END EXTREME POVERY ALL OVER THE WORLD… FOREVER… AND NOT EVEN MISS THE MONEY USED TO DO THAT!!! AND, WITH JUST A LITTLE MORE OF THEIR WEALTH… WE COULDALMOST TOTALLY REBUILD THE WORLDS ENERGY INFRASTRUCTURE SO WE NEVER HAVE TO WORRY ABOUT RUNNING OUT OF CHEAP OIL; , GAS, OR COAL… AND NEVER HAVE TO WORRY ABOUT RUN-AWAY GLOBAL WARMING!!!

  • daniel1154

    Dillie. Explain how the Republicans did this please?