Tag Archives: Pension Crisis

Jun 17 2017

ICE Director Thomas Homan Brings Atomic Sledgehammer of Truth…


Re-Posted from The Conservative Tree House on June 16, 2017 by

President Donald Trump’s immigration enforcer doubled down Friday on recent comments that undocumented immigrants “should be afraid” under the Trump administration.

Immigration and Customs Enforcement Acting Director Thomas Homan said in an interview today that he has “zero regrets” about his remarks before Congress this week, expanding on them. “It needed to be said,” Homan told CNN on the sidelines of a Central American prosperity and security conference.

“And by me saying you should be worried, you should be afraid — if you lie on your taxes, you’ve got to be worried, ‘Is the IRS going to audit me?’ … When you speed down the highway, you’ve got to worry, ‘Am I going to get a speeding ticket?’ You worry. It’s natural human behavior.”

Ice Director Thomas Homan defended the arrest of student on the day of his prom. Director Homan told Congresswoman Nita Lowey that “if you’re violating the law, you should be uncomfortable. He should be looking over his shoulder if he’s in this country in violation of law and ordered removed. He should be worried that he’s going to be arrested.”

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Jun 17 2017

Amazon Purchases Whole Foods For $13.7 Billion (Cash)…


Re-Posted from The Conservative Tree House on June 17, 2017 by

The business world is buzzing over Amazon’s $13.7 billion purchase of Whole Foods. CTH has received requests for opinion. Amazon stockholders may not like the perspective.

(Via CNN Money) The online retail giant announced Friday that is buying organic grocery chain Whole Foods (WFM) for $13.7 billion in cash. The deal values Whole Foods at $42 a share, 27% higher than where the stock was trading Thursday.

Amazon (AMZN, Tech30) said Whole Foods stores will continue operating under that name as a separate unit of the company. Whole Foods CEO John Mackey will stay on to lead Whole Foods, which will keep its headquarters in Austin, Texas. (link)

Here’s my review. Firstly, Whole Foods was available for purchase because Whole Foods business model was limited; and like the progressively minded organization they are – they allowed their Birkenstocks to travel beyond their limits, which always leads to failure.

In the PC corporate world ‘pending failures’ are called “challenges“, or “opportunities” if you don’t want to get kicked out of the boardroom.

Whole Foods is a high-priced (nicknamed “Whole Paycheck” for a reason) grocery outfit specifically because they were/are generally a niche market operation.

The cost of organic products, in combination with their fundamental flaw (Achilles heel) that economies of scale (warehouse and distribution) are a prerequisite within the low margin industry for cost savings, kept their prices high.

As a regional business, inside specific markets with specific access to locally sourced product, Whole Foods would be ok.  It’s their core operations and reason for their initial success.

However, attempt to expand that operational model nationally (which they did), and you enter a dynamic of trying to sell products in markets that don’t appreciate or value the Vichy experience of dropping $300 for two Eco-friendly canvas bags of fruits, vegetables and oddly pronounced olive oils.

High prices are necessarily part of the Whole Foods overall business model. Expand operations beyond niche markets that can afford such prices and, well, failure (ie. their Birkenstocks traveled to far).  That position is exactly where they were.

♦ Enter Jeff Bezos, Amazon and a distribution network with a high-minded belief their distribution can/will enhance the logistic and efficiency challenges encumbering Whole Foods future success.

No doubt Bezo’s gender neutral Latte bean counters found some like-minded suave millennials, complete with man-buns and algae cakes, to deliver a fabulous Apple-powered presentation therein.  Business graveyards are filled with such enamored and well-meaning carcases.

Whole Foods operates approximately 460 stores.  [How many of them actually turn a profit, and hold up the loss leader footprint, is unknown.] Amazon reportedly paid $13.7 billion (yes that’s billion with a “B”) for the footprint.  Or approximately $29.8 million per retail unit.

$29.8 million per store is approximately $10 million more (per unit) than anyone with a modicum of practical common sense would normally pay.  Then again, Amazon is cash heavy, so what’s a few billion amid like-minded latte power-point-pals; and Mackay’s crew of fellow travelers know how to burn cash better than most.  (See Hillary Clinton’s 2016 boondoggle expenditure for reference.)

However, in Bezo’s world, amid the giddy financial generation, money seems to grow on trust-fund trees.  The bottom line of actual profit is transparently non-existent in this $13.7 billion expenditure.  Even with a modicum of success, it would take a generation of successful operations for all 460 units to pay back such an over inflated purchase price.  So, obviously this is not a decision based on bottom line profit generation for the parent company Amazon.

That brings us to the next set of points which lean more remarkably toward failure.

Technology, and more specifically technological mobility, is now creating individual efficiencies in consumer personalization to exceed any investment value that a retailer would necessarily place in infrastructure.

Does that sound like corporate gobbledyspeak?  Good, it was supposed to.

Plain english version – People are assuming Amazon will be looking to generate shop-at-home (direct delivery) value via a synergy of Whole Foods grocery operations and Amazon’s exhaustive distribution network.   [All of the highfaluting Brioni suit and disposable tailored white shirt crews are espousing that opinion.]  Amazon is anticipated to be able to deliver groceries through this acquisition.

In order for that to be a possible future outcome, layers of cost efficiency would need to be the driver of Whole Foods boardroom discussion very soon. Very unlikely.  Apparently unbeknownst to the algae-cake community, the overall industry, as a direct result of the technological mobility of the consumer, is now less invested in such an approach.

Why?

Simple.  Technology is also creating efficiency for consumerism.  It is entirely possible to go on-line for your grocery purchase, submit your grocery list to your local market, and then utilize Über transport as the pick-up and delivery method.  Über and Lyft won’t be just for taxi service anymore…. watch/wait for it.

The all encompassing process of ‘field-to-fork’ within the food industry is poised to break down into various competing sub-sets and sub business units, external to the food retailer.  Again, efficiency of scale and specialization is essentially the driver (no pun intended).

On the upside of angled considerations for Amazon, they are also looking into entry in the retail store market, and with that in mind actual foot traffic is a prime factor.  No industry drives a higher measure of consistent foot traffic than your local supermarket.  So there can be a reasonable expectation that Amazon stores will have some connective tissue to the locale of Whole Foods. [Somewhat guessing here]

However, in the direct-to-home market for grocery operations, specifically because of the aforementioned mobile distribution specialization, the synergy of Whole Foods and Amazon shouldn’t be predicated on a belief such a new market will necessarily emerge.

Yes, the upper-east side, and those of similar refinement, may welcome Amazon delivery of Whole Foods products.  But that doesn’t change the issues of regional limits for such consumer evaluations.  The baseline Achilles heel of Whole Foods still exists, albeit with a possible delivery service.

Tear it all apart and Amazon just paid about $30 million per store for a business enterprise worth about 30% less than that.  There is no reasonable way, from a profit perspective, for Amazon to ever recapture such an expenditure.  Then again, as stated, it doesn’t look like profit is their motive.

That said, as history customarily shows, sooner or later the value of a common stock will not support the best intentions of well worn Birkenstocks.

Jun 16 2017

President Trump Rescinds DAPA – Obama’s Unlawful Executive Action Deferring Deportation…


Re-Posted from The Conservative Tree House on June 16, 2017 by

An important point before the details: ♦The hero in this entire constitutional story is Federal Judge Andrew Hanen (Full Backstory)♦

Yesterday, Homeland Security Secretary John Kelly announced the DAPA program was officially rescinded:

(VIA DHS) On June 15, Department of Homeland Security Secretary John F. Kelly, after consulting with the Attorney General, signed a memorandum rescinding the November 20, 2014 memorandum that created the program known as Deferred Action for Parents of Americans and Lawful Permanent Residents (“DAPA”) because there is no credible path forward to litigate the currently enjoined policy. (link)

D.A.P.A or Deferred Action for Parents of Americans and Lawful Permanent Residents program – was the executive action Obama attempted in November of 2014 which was shut down by Federal Judge Andrew Hanen in February 2015 with the issuance of an emergency injunction.

It’s important to note the underlying constitutionality of the case was NEVER heard in Judge Hanen’s court. After Hanen put the emergency injunction in place to stop DAPA from being carried out, all of the Obama DOJ action was directed at removing the injunction.

However, in an unusual twist, in order to establish the scope of the state and federal argument, the Supreme Court did expand their June ’16 hearing beyond the injunction to listen to the underlying merit of the Obama administration’s arguments.  They issued a one sentence ruling:

“The judgement is affirmed by an equally divided court.”

judge andrew hanen scotus ruling

(Via Daily Caller) The Trump administration has fulfilled another one of Donald Trump’s campaign promises by rescinding the Deferred Action for Parents of Americans and Lawful Permanent Residents (DAPA) program implemented under Barack Obama that could have allowed as many as five million illegal aliens with children who are citizens or lawful permanent residents to remain in the country if they met certain criteria. (more)

 

Jun 16 2017

Asst. U.S. Attorney General Rosenstein Warns America About Media Sources: “Do Not Trust Anonymous Officials”…


Re-Posted from The Conservative Tree House on June 15, 2017 by

I’ll keep pointing out the obvious.  Just like the previous battle in the intelligence community, there is a battle between Black Hats and White Hats within the U.S. Justice Department’s (FBI and DOJ) unelected career bureaucracy.

If you read the Washington Post report claiming President Trump was under investigation for Obstruction of Justice by Special Counsel Robert Mueller, you will immediately note the first paragraph was framed specifically around “Anonymous Officials“.  Again, tonight those same “anonymous officials” are mentioned in a Washington Post report claiming Jared Kushner is being investigated.

(Source Link)

There is a great deal of false and misleading MSM information; in addition to the layers upon layers of hand-wringing, speculation, and professional financially driven anxiety banter surrounding Special Counsel Mueller and his appointment by Rod Rosenstein.

All of the above said; and with a full appreciation for how the deep swamp creatures operate; and having watched the minutiae of how each element interacts with each additional element over multiple years; well, I just ain’t buying any of the popular talking points.

None of the chattering class punditry are taking a full accounting of the entire bigger picture within any of their arguments.   In short, they’re almost all getting it wrong, because: A.) their emphasis is on the wrong syllable; and, B.) they keep positioning the media narrative as accurate in part or in total.

The media lies in multiple ways.  Plausible deniability is a necessary ingredient in almost every media report. Those who operate within the DC deep state; those who scheme and benefit utilizing the manipulative outcomes of media, know exactly what to leak, when to leak, where to leak and who to leak, in order to present situations for their own interests.

Plausible Deniability.  EXAMPLE (notice the shift):

Now it becomes “May”?

The DC “Black Hats” are intensely skilled in the dark art of creating self-fulfilling prophecies.  Specifically because of this truism, almost all of the downstream reactions end up being pushed based on false assumptions.  It is challenging to inoculate yourself from the deceptions; but it is also necessary otherwise you are susceptible to their infection.

Former FBI Director James Comey (and his entire former team) is steeped in the dark arts of self-serving deception. It is a character trait necessary for life at the top of the food chain in the deep swamp.

As such, the fully developed Comey persona is necessarily devoid of any cognitive genetic composition which would frame compassion for anything, or anyone. Comey Inc. looks out for their own best interests. FIRST. FOREMOST. and ONLY.

As we previously discussed – The risk represented by Robert Mueller is not connected to or about anything surrounding the Russian Conspiracy Narrative; the legal risk is within ‘the leaking‘ of classified intelligence information to undermine the administration, the potentially illegal ‘unmasking‘.

If we avoid all the shiny things, ignore the shell game and reset our frame of reference to the only illegal activity currently known, the leaking; the main illegal activity visible is the illegal leaking of classified intelligence information.

Despite his earnest efforts, there is clear and mounting evidence that former FBI Director James Comey was the primary source of leaked information to the media. The latest Washington Post report is yet another example. The reporter for the Post article is one of a limited number (25) people whom James Comey follows on Twitter.

The risk to Comey Inc. from his media leaking continues to explain everything James Comey Inc. has recently done, said, advanced and CONTINUES TO ADVANCE.

If the evidence of James Comey being the source of multiple FBI leaks reaches the primary artery of investigative sunlight, who inside that investigative and prosecutorial decision making process becomes the risk? Answer that question and you discover the angle Comey is playing to cut off their ability to hold him accountable.

Special Counsel Robert Mueller, Attorney General Jeff Sessions, Asst AG Rod Rosenstein et al are the people Comey Inc. need to worry about, isolate and control.

It is not coincidental that Comey Inc. are setting up the future action of these participants to be politically motivated.

James Comey’s layer of innuendo against Jeff Sessions is an obvious strategy toward that end. If Comey can frame Sessions as retaliatory against him, he would position any legal action as retaliation.

Anyone who is buying into the story of James Comey leaking the memos to his friend, Daniel Richman, to get a special prosecutor appointed is falling for the shell game constructed entirely by James Comey. More than likely this is the explanation he has already given to Robert Mueller, hence his motive to state within his testimony.

It is important to remember that James Comey told congress he previously met with Robert Mueller to discuss his testimony prior to appearing before congress.

James Comey admitted to this specific “leaking”, because the justification to ‘get a special counsel appointed‘ is the explanatory storyline James Comey wants to present in public.

The alternate reason for leaking, the political motives, are much more damaging to him.

James Comey benefits two ways from his explanation. First, he justifies terrible behavior through a prism of his honor could find no other way (his status remains). Secondly, he sets up special counsel Mueller as fruit of a poisoned tree leading to voices calling for Mueller’s removal. Win/Win.

Comey Inc. also benefits from calls by Comey’s political opposition to eliminate Robert Mueller who is investigating the leaking.

Don’t fall for it.

James Comey is no longer in control of the investigative inputs or investigative outcomes.

Those whom Comey has injured, namely Attorney General Jeff Sessions and President Trump, are in positions where they can honestly and openly monitor the larger investigative inputs and follow the outcomes; they can also monitor the ongoing activity of Comey himself.

When someone of Comey’s inherent disposition is in a place like this, they initially seek to influence through direct contact (Comey talks to Mueller before testimony). However, when a professional distance is asserted, absent of an ability to engage in direct contact, the fall-back position for the manipulator is to influence the surrounding landscape (media an public opinion).

Never, ever, underestimate the severity or skill of a professional liar.

Never take anything Comey Inc. say at face value the way you would a disconnected observer.  Liars lie, it’s what they do.   Professional liars lie well, it’s what they’ve trained themselves to do.

If you accept the full hindsight of now identified FBI leaking, the greater likelihood is that Comey didn’t leak the memo to get Mueller appointed, he leaked the memo (May 16th) as an afterthought to cover for the leak mentioned by President Trump (May 12th), of a private conversation, that appeared in the New York Times on May 11th.

Remember, James Comey’s counter-intelligence investigation could have asked for a special counsel at any time. Asst. AG and Interim AG Sally Yates was part of that investigative leadership team. If Comey wanted a special counsel, Comey could have asked DOJ to appoint a special counsel any time he wanted.

He didn’t.

Comey didn’t request appointment of a special counsel because the special counsel would only prove there’s nothing there. However, fast forward to now and the real investigative risk is in being “a leaker”.

How quickly everyone forgets those admitted conversations by James Comey friend at Lawfare blog Benjamin Wittes:

“I did not know this particular fact, but it doesn’t surprise me at all. The principal source for the rest of this story is, well, me—specifically a long interview I gave to reporter Michael Schmidt on Friday about my conversations with FBI Director James Comey over the last few months, and particularly about one such conversation that took place on March 27 over lunch in Comey’s FBI office.” (link)

Benjamin Wittes admits that FBI Director James Comey specifically discussed with him the overall content of private communications with President Trump.

When you take the Wittes outline in conjuction with Comey’s admitted leaks to his other friend Daniel Richman, Comey is transparently in a position of being fingered as the source of multiple media leaks to NYT reporter Michael Schmidt.

That is the current risk for James Comey. The discovery that Comey was the leaker is the risk now represented by Robert Mueller and is inherent in Comey’s need to control the framework of his leaking activity.

James Comey was part of the political apparatus that constructed the “muh, vast Russian conspiracy” narrative and carefully nurtured it for over 8 months – even keeping congress in the dark on the entire matter. From James Comey perspective, the problem, the illegality, is now the leaking – NOT the original issue of the Russian election hacking narrative.

Remember, it was in FEBRUARY when the FBI (McCabe) went to President Trump’s Chief of Staff privately and told Reince Priebus there was no truth to media reports, based on FBI leaks, of FBI evidence showing Trump campaign officials involved with Russian officials regarding the 2016 election. It was all a complete nothingburger.

Details – On February 15th while discussing another issue FBI Assistant Director Andrew McCabe asked Reince for 5 minutes alone after the meeting. At the one-on-one meeting McCabe told Priebus the New York Times Russia and Trump campaign story was a “bunch of BS”.

Priebus asked McCabe if McCabe would be able to say that publicly and get the media off his back about a ridiculously false narrative. Asst. Director McCabe said he would check with his boss, FBI Director James Comey. Later, McCabe called back and said he couldn’t issue a statement about it.

reince-preibus-mccabe

Reince Priebus was simply asking for the FBI to give truthful information about the false reports to the public. The White House was asking Comey to deliver transparency.

Quote from the FBI to Priebus: “We’d love to help, but we can’t get into the position of making statements on every story”…

In hindsight, from current appearances, those February leaks (mentioned above) that drove the New York Times February report were actually leaks coming from James Comey.

Stop and think about it. McCabe was telling chief-of-staff Reince Priebus not to worry about a NYT report based on leaks coming (first, second or third-hand) from James Comey himself. Priebus asks McCabe for help, James Comey then tells McCabe the FBI cannot publicly refute the story which is based on Comey’s leaking.

If everyone associated with this line of inquiry can stop themselves from following the shell game constructed by Comey, and avoid the distractions he is laying down (Lynch), they’ll eventually find a way to point this out.

Jun 16 2017

France Police Hunting Tourists To Shake Them Down


Armstrong Economics Blog/The Hunt for Taxes

Re-Posted Jun 16, 2017 by Martin Armstrong

COMMENT: Mr. Armstrong; I had the wonderful experience of flying to France to see my son going to school there. Upon my arrival, I was immediately commandeered by the French police asking me how much money I had. I didn’t even get out of the Paris airport. I was not dressed elegantly; just jeans. I wanted to send you this not because reading what you write and experiencing it are two different things.

Thank you for what you do

GK

ANSWER: Yes. France is going nuts. They are stopping trains that pass through France and searching people’s bags for cash. And this is where they want the financial markets moved to from London? I would not have any account there. They cannot be trusted

Jun 15 2017

MAGA Continues – HHS Secretary Tom Price Hosts Healthcare Reform Forum at White House…


Re-Posted from The Conservative Tree House on June 15, 2017 by

While the MSM continues selling the various pitches and talking points of their DC-based deep state operations, the Trump administration continues driving forward on the primary issues that matter to ordinary Americans.

(Via Secretary Tom Price) Health and Human Services Secretary Tom Price, M.D., hosted a listening session with Seema Verma, Administrator of the Centers for Medicare & Medicaid Services (CMS), and medical and healthcare professionals to discuss the challenges that patients and providers face under our current healthcare system.

Secretary Price began the meeting by voicing his thoughts and prayers for Majority Whip Steve Scalise and other victims of the attack yesterday morning. He expressed his gratitude to the U.S. Capitol Police and to those who protect us every day for their bravery and willingness to serve. Administrator Verma and Doctors Raymond DeCorte and Joe Uddo, two constituents of Majority Whip Scalise, echoed these thoughts.

Attendees of the listening session included doctors and medical professionals who represent many different specialties. Each shared their unique perspective on how Obamacare has adversely affected their practice and patients.

Secretary Price listened to their experiences in complying with overly burdensome Obamacare regulations and treating patients who have either lost their insurance because of Obamacare or who are enrolled in Obamacare, but can’t afford the services they so desperately need. The listening session participants told many similar stories, and each of them stated that now is the time for healthcare reform.

Secretary Price affirmed the Department and President Trump’s commitment to put in place a healthcare system that’s responsive to the needs of patients and a system where doctors, families, and patients are making medical decisions—not Washington, D.C. Secretary Price noted the Administration is committed to improving healthcare in America and to provide individuals and families the relief they so desperately need.

The following individuals participated:

Dr. Joseph Abboud – Orthopedic Surgeon, Philadelphia, PA
Dr. Ralph Alvarado– Primary Care Doctor and State Senator, Winchester, KY
Dr. Robin L. Armstrong – Internist, Houston, TX
Dr. David L. Cannon – Orthopedic Surgeon, Germantown, TN
Dr. Raymond DeCorte – General Surgeon, Metairie, LA
Dr. Ada Fisher – Retired Physician, Salisbury, NC
Ms. Tonya Horton – Small Medical Business Owner, Patient, Employer, Bryant, AR
Dr. Thomas Little – Cardiologist, Cookeville, TN
Dr. Ryan Stanton – Emergency Medical Doctor, Lexington, KY
Dr. William Thornbury – Primary Care Physician, Family Practice, Glascow, KY
Dr. Joe Uddo – General Surgeon, Metairie, LA
Dr. Jill Vecchio – Radiologist, Denver, CO
Dr. Anthony Vintzileos – Obstetrician-Gynecologist, Mineola, NY

(link)

Jun 15 2017

Shooting Victim Steve Scalise Undergoes Third Surgery – Condition Remains Critical…


Re-Posted from The Conservative Tree House on June 15, 2017 by

“It’s been much more difficult than people even thought at the time. It’s been — [Steve Scalise] is in some trouble, but he is a great fighter and he is going to be OK, we hope.” … “I have a feeling that Steve has made a great sacrifice, but there could be some unity being brought to our country. Let’s hope so.”

~ President Donald Trump

House Majority Whip Steve Scalise underwent a third surgery this morning following his shooting injury sustained at the Republican baseball team’s practice in Alexandria, VA. Doctors at MedStar Washington Hospital Center said the Louisiana Republican remained in critical condition, and they began a third operation.

According to medical professionals multiple surgeries in this context are not unusual. There are multiple vital organs in the pathway of the bullet and surgeons are often checking to ensure prior procedures to repair damage are holding.  Rep. Scalise faces a long path of treatment and recovery ahead and remains in critical condition.

Vice President Mike Pence and his wife Karen visited the Scalise family at the hospital Thursday morning, but did not provide additional information about his condition.

(Via Politico) Speaker of the House Paul Ryan and his leadership team called an emergency conference Thursday morning to give lawmakers an update. Scalise’s Chief Deputy Whip Patrick McHenry (R-N.C.), who also has visited him in the hospital, gave a moving speech about faith in dark times — and about Scalise’s strength as an individual.

 

 

Jun 15 2017

Tucker Carlson and Mark Steyn Discuss Political Violence…


Re-Posted from The Conservative Tree House on June 15, 2017 by

Fox host Tucker Carlson interviews Mark Steyn and together they discuss the current state of left-wing political violence.

Jun 15 2017

Merkel Wants G20 Global Taxation of Internet


Armstrong Economics Blog/The Hunt for Taxes

Re-Posted Jun 15, 2017 by Martin Armstrong

Markel is calling upon the G20 to regulate the internet. While she if pretending to be concerned about cyberattacks, which no regulator can prevent, you have to look into the finer details. Chancellor Angela Merkel called for a global regulation sayying: “Industry 4.0 will have to go through the process that we have already gone through at the World Trade Organization (WTO) with real trading operations that we have gone through in the G20 process with financial market regulation.” 

She noted that the “concerns” include “cyberattacks, the responsibility of social platforms to tax issues in international trade, and growing concern in the world Of policy. “

In other words, she wants to tax all sales on the internet. So anyone from Germany buying anything anywhere would have to pay VAT and every online merchant would have to comply with global regulation. Additionally, governments are increasingly becoming concerned about blockchain technology and the avoidance of taxes.

As always, government pretend to be concerned about security, but it is always about the money. She also wants to shut down anyone who talks against government in the social media.

Jun 15 2017

EU Wants to Order All Euro Trading Moved from London to Paris


Armstrong Economics Blog/European Union

Re-Posted Jun 15, 2017 by Martin Armstrong

The European Union is preparing the legal basis to take over London’s extensive trading business with euro derivatives. This is just another complete failure of bureaucrats to comprehenmd market function. Perhaps they should also outlaw euro trading in the USA and Asia. That would be real smart. Then they can all sit down and play cards with euro themselves and guarantee it will never be anything to anyone else no less convertible worldwide.

The EU Commission wants to withdraw the multi-billion-dollar derivatives market from London after leaving the UK from the European Union. Transactions with securities settled in euro should then be transferred to the European Union if the relevant clearing house plays a key role in the financial system with its trading volumes. Their draft law is still in draft form. It is the testament to just how stupid bureaucrats can really be. They have already outlawed naked shorting of the government debt to prevent a crisis in sovereign debt. They fail to comprehend that in the middle of a crash, they ONLY people buying are shorts. No shorts = flash crash and no bid.

You just can’t get more brain-dead than this.