Sunday Night

"If China were a normal country, it would be hurtling into a brick wall. A "hard-landing" later this year would already be baked into the pie. [...] The Yangtze shipyards tell the tale. Caixin magazine said eight of the 10 largest builders in the country have not received a single new order this year."

Latest Hussman: "'If this is what it's like at a relatively benign moment, what is it like in the future?' In my view, the first glimpse of the future is likely to come out of Europe. In the coming quarters, we are likely to see a wave of European banks going into receivership - either being nationalized or restructured."

Chesapeake Posts

• WSJ: "Icahn Expected to Disclose Stake in Chesapeake"
• "Natural Gas Futures Rally To Fresh Two-Month High"
• Social Mood Theory: Natural Gas Rig Count Hits New 10-Year Low, Prices Begin to Rise, as Most Visible Name in Industry Gets Crushed
• Chesapeake Borrows $3 Billion Unsecured from Goldman Sachs and Jefferies Group