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Tony Merlino set to retire

village-hall-theridgewoodblog

August 9,2015

the staff of the Ridgewood blog

Rigewood NJ, Tony Merlino, the Village’s Zoning Officer and Sub-Code Official, announced his retirement on Wednesday, August 5.  Village Manager Roberta Sonenfeld, who made the announcement during a Village Council Work Session, did not indicate what Tony’s last day on the job would be.

Tony began his employment with the Village of Ridgewood in August of 1986.  He was “top dog” in the Building Department for many years until Thomas Yotka was hired into the that role late last year.  The party line is that Tony got the boot because he moved too slow in computerizing building department processes.  The backstory is that he ran afoul of a Village Council member regarding approval of final inspections on a home renovation project.

Although he did not have a very big fan club and received often heavy criticism from this blog. Tony is the one Village employee who many of should thank for playing by the rules.  Observe the variations in “curb appeal” by driving around some residential neighborhoods a few other municipalities in Bergen County; then drive around ANY neighborhood in Ridgewood.  Strict adherence to zoning laws & building codes does make a difference and makes Ridgewood a much nicer place to own a home and live in.

Thanks for your service Tony and best wishes in your retirement.

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GOP leaders pronounce Trump Dead Again

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GOP leaders say erratic attacks hurt Trump, but he vows to fight and win

By Philip Rucker and Robert Costa August 8 at 9:42 PM

Republican leaders who have watched Donald Trump’s summer surge with alarm now believe that his presidential candidacy has been contained and may begin to collapse because of his repeated attacks on a Fox News Channel star and his refusal to pledge his loyalty to the eventual GOP nominee.

Fearful that the billionaire’s inflammatory rhetoric has inflicted serious damage to the GOP brand, party leaders hope to pivot away from the Trump sideshow and toward a more serious discussion among a deep field of governors, senators and other candidates.

They acknowledge that Trump’s unique megaphone and the passion of his supporters make any calculation about his candidacy risky. After all, he has been presumed dead before: Three weeks ago, he prompted establishment outrage by belittling the Vietnam war service of Sen. John McCain (R-Ariz.), only to prove, by climbing higher in the polls, that the laws of political gravity did not apply to him.

Still, Trump’s erratic performance during and after the first Republican presidential debate last week sparked a backlash throughout the party Saturday and a reassessment of his front-running bid. The final straw for many was Trump’s comment on CNN late Friday that Fox moderator Megyn Kelly had “blood coming out of her eyes, blood coming out of her wherever.”

https://www.washingtonpost.com/politics/gop-leaders-say-erratic-attacks-hurt-trump-but-he-vows-to-fight-and-win/2015/08/08/915a183c-3de6-11e5-8e98-115a3cf7d7ae_story.html

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Mark Levin’s Visit to Bookends Revives old Controversy on eligibility requirements to run for or hold the office of President of the United States

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August 8,2015

the staff of the Ridgewood blog

Mark Levin at Bookends Sunday, August 9th @ 10:00am
New York Times Bestselling author and syndicated talk-show host, Mark Levin, will sign his new book: Plunder & Deceit
Bookends, 211 E. Ridgewood Avenue, Ridgewood, NJ   07450   201-445-0726

“Mark was shown where he made a mistake in stating in [an end note] that delegates from Vermont belatedly attended the constitutional convention in Philadelphia in 1787. In reality, Vermont was not even a state until 1791. Before that it was a disputed territory between New Hampshire and New York. So Vermonters were not asked to nor were they qualified to attend the Philadelphia convention. He gave his challenger no credit for reading his book carefully and bringing this non-trivial mistake to his attention. He then refused to sign the book on the page where the [end note] appeared and showed distinct signs of impatience and annoyance when he opened the front of the book and began to sign it.”

Well, it’s now almost two years on from the August 18, 2013 booksigning event at Ridgewood’s Bookends bookstore at which a Ridgewood resident: 1) informed Mr. Levin that he had made the above-described end note error in his new book, “The Liberty Amendments,” and 2) asked him the following question when he was signing his copy of the new book: According to what possible definition of the Constitutional term Natural Born Citizen is your friend Ted Cruz eligible to run for or hold the office of President of the United States?

Fast forward to August, 2015, and Mark’s friend Ted Cruz is trailing badly to a GOP frontrunner (Donald Trump) who earlier this year squarely questioned Cruz’s eligibility to run for or hold the office of POTUS based on the indisputable fact that Cruz was born in 1970 in Alberta, Canada. So, the question posed by the Ridgewood, NJ resident to Mark Levin on August 18, 2013, and to which Levin reacted so very poorly by berating and slandering his interlocutor that very day at the Bookends booksigning event, and on August 19, 2013 and August 29, 2013 on his nationally syndicated radio program, remains both relevant and unanswered (that is, at least, if you were to ask his opponents in the race for the Republican Party nomination for President if the United States).

What else is happening in August, 2015? Well, among other things, Mark Levin has written a new book, “Plunder and Deceit”, which was released yesterday, August 4th. Many hardcover copies of this new book are on display and available for sale at Bookends in Ridgewood. Apparently, Levin is just as eager as he was two years ago to secure sufficiently high early sales numbers to land himself on the New York Times bestseller list, because he is once again scheduled to attend a summer booksigning event for his new book at Bookends in Ridgewood, this time on Sunday, August 9, 2015. (It seems the New York Times tracks book sales at a select few (perhaps ten?) bookstores in the Northeast Corridor to determine book placement on its various bestseller lists, and…who knew?…Bookends in Ridgewood is one of those select few bookstores!)

This commenter, curious to know if Mark Levin had “found the time” to look into the above-discussed problem with the erroneous end note in “The Liberty Amendments,” went to Bookends on the release date of “Plunder and Deceit” (yesterday, Tuesday, August 4, 2015) and found a copy of the paperback version of “The Liberty Amendments”, the first edition of which was published perhaps a year ago, well after Mr. Levin had been informed of the error in the original hardcover version.

So after all this, after recklessly abusing the Ridgewood resident who brought the mistake to his attention,: 1) did Levin and his publisher find, upon reflection, that he had in fact made the above-discussed mistake in his end note in the original hardcover version?, and 2) if the answer to question number 1 is ‘yes’, did Levin and his publisher make an appropriate correction to that end note in the subsequently-published paperback version?

As it turns out, the answers to those two questions are as follows: 1) Yes; and 2) No.

The footnote was changed to eliminate the earlier reference to the disputed territory of Vermont. So the Vermont reference was acknowledged as a mistake. This much is commendable. However, the context of the end note in question (i.e., the passage of the main text with which the end note is associated), required Levin and his publisher to insert in place of “Vermont” the name of the actual state (in addition to New Hampshire), delegates from which had not yet completed the trip to Philadelphia to attend the Constitutional Convention. This Levin and his publisher failed to do. Just how much spoonfeeding do they need to get this right?

So the end note in question remains screwed up, almost two years after “The Liberty Amendments” was released. Does anyone in the vast TheRidgewoodBlog readership know what original state Levin is still neglecting to recognize as one of the twelve (Rhode Island objected to the whole idea of the convention and never sent any delegates) that faithfully participated in the Philadelphia Constitutional Convention in 1787?

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24 Million Watch GOP Debate on Fox News; Most-Watched Cable News Program Ever

bret-kelly-chris-gopdebate-hed-2015

AILES TRIUMPH: MAY HAVE BEEN HIGHEST NON-SPORT CABLE TELECAST OF ALL-TIME… DEVELOPING…7.9 MILLION IN 25-54 DEMO…BIGGEST NIGHT SINCE FOXNEWS INCEPTION.!

By Chris Ariens on Aug. 7, 2015

In the estimation of many reporters who cover the political and media beats, Fox News was the winner of the first GOP debate. And with the just-released ratings we can confirm that.

A whopping 24 million watched the debate from 9 p.m. ET to just past 11 p.m. ET. FNC drew 7.9 million in the A25-54 demo.

This is now the highest non-sports cable program of all time, the highest-rated cable news program of all time, and Fox News’s most-watched program ever.

The 5 p.m. ET debate, withe the 7 lower-tier candidates did very well for Fox News too, drawing 6.1 million total viewers and 1.2 million in the demo, making it the third-highest primary debate ever on cable.

https://www.adweek.com/tvnewser/fox-news-has-most-watched-primary-debate-ever-24-million-tune-in/269157

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Titans Clash as Donald Trump’s Run Fuels His Feud With Rupert Murdoch

donald-trump-rupert-murdoch

By AMY CHOZICK and ASHLEY PARKERJULY 21, 2015

In the rarefied world of New York moguls, Rupert Murdoch never thought much of Donald J. Trump.

Mr. Trump’s divorces and marriages sold newspapers, but beyond that, Mr. Murdoch had no time for his bombastic business style and ostentatious demeanor. “Phony” was how Mr. Murdoch often described him to friends.

There was the time Mr. Trump screamed that he would sue for libel after Mr. Murdoch’s New York Post reported that the exclusiveMaidstone golf club in East Hampton planned to deny Mr. Trump a membership.

Then there was the awkward aftermath of Mr. Murdoch’s own high-profile divorce from Wendi Deng Murdoch, when Mr. Trump’s daughter Ivanka, unlike many New York society figures, remained loyal to Ms. Deng Murdoch, a close friend.

Now, as Mr. Trump holds on to a first-place position in the polls while being roundly denounced across the political spectrum for harsh statements about Mexican immigrants and for belittling Senator John McCain’s war record, he has already lost the man who controls many of the nation’s most important media organizations.

https://www.nytimes.com/2015/07/22/us/politics/titans-clash-as-donald-trumps-run-fuels-his-feud-with-rupert-murdoch.html?_r=0

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Civility for one is Civility for all Mr Mayor

Paul_Aronsohn_theridgewood blog

Civility for one is Civility for all Mr Mayor

August 6,2014
the staff of the Ridgewood blog 
Ridgewood NJ, At the August 5 Village Council meeting several people spontaneously applauded when Councilwoman Knudsen made an impassioned statement about saving the Schedler House.  Mayor Aronsohn immediately shushed these people and reprimanded them for lack of “decorum.”  That a positive “comment” in the form of brief applause would be squelched seems particularly contradictory from one who constantly calls for civility – there were no boos, hisses, or comments that would be considered rude.  At the previous meeting, on July 15, when resident Jim Griffiths spoke passionately about the discussion regarding the title of Ms. Matthews’ Human Resources position, applause broke out from some in the audience.  Mayor Aronsohn said nothing and did not reprimand these individuals.  Why this inconsistency?  Here’s why:  he agreed with Mr. Griffiths and he disagreed with Councilwoman Knudsen.

It is also noted that in some instances the Mayor stops a citizen from speaking at the stroke of 5 minutes, whereas in other cases he allows the speaker to proceed long past the five-minute mark.

The times when an individual has been badgered and verbally harassed under Mayor Aronsohn’s leadership are too numerous to count.  Coucilpersons Riche, Walsh, Knudsen and Sedon,  Chief Ward and Clerk Mailander, as well as some members of the public,  have all been maligned by Mr. Aronsohn, by some of his elected colleagues, or by members of the public who have spoken at the podium.

A mayor should conduct meetings in a civil, consistent, and fair manner.  Mr. Aronsohn’s obvious attempts to control the commentary are extraordinarily unprofessional and unbecoming to one who has been entrusted with authority.  While entitled to his own biases and opinions, he is not entitled to control the public conversation to his liking by shushing the people he doesn’t agree with while allowing others to go on (or clap on) at length, and by attacking (or allowing others to attack) those he does not like.

Mr. Mayor, you should be ashamed of yourself.  You are behaving like a petulant child who is not getting his way.  You are abusing the power of your office by running the meetings with great bias and inconsistency.  Remember how badly you wanted this job?  Well, why don’t you treat this position with respect by conducting the meetings more professionally?

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Village Manager confirms report of illegal dumping

DPW illegal dumping

August 6,2015
Boyd A. Loving

Ridgewood NJ , Ridgewood Village Manager Roberta Sonenfeld has officially confirmed that illegally dumped materials were recently discovered at the Village’s Lakeview Drive compost site during a routine inspection conducted by a NJDEP employee.  Sonenfeld’s confirmation came in the form of a statement read during the Village Council’s August 5 public Work Session.

According to Ms. Sonenfeld, the illegally dumped material consisted of asphalt and concrete block and was located at the site’s south end, dumped over a protective berm.  It is believed the materials were dumped during the months of June or July, this according to Sonenfeld.  Heavy equipment and an operator(s) from the Bergen County Mosquito Control Commission are now being deployed to assist in removing the debris.

The Village Manager concluded her remarks by emphatically stating that an “active investigation” is still underway regarding the incident.  No date was mentioned regarding the availability of a final investigative report via the OPRA.

Many taxpayers are anxiously awaiting the outcome of this “active investigation” so we can learn exactly how the dumping was accomplished, who was responsible, who will be held accountable (if anyone) and what monetary liability, if any, taxpayers will be on the hook for.

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GOP candidates battle to stake their positions in first 2016 debate

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Who says politics is boring! Are you watching this debate right now? It’s better than the Mayweather-Paq fight lol. Jason Vigorito

Published August 06, 2015
FoxNews.com

From fiery criticism of ObamaCare and the Iran nuclear deal to support for Israel and the rights of the unborn, the top 10 Republican presidential candidates did all they could to define and separate themselves Thursday night during the Fox News debate in Cleveland, Ohio.

The governors on stage, notably John Kasich of Ohio and Scott Walker of Wisconsin, touted their economic records. Texas Sen. Ted Cruz vowed to scrap the Iran deal. Retired neurosurgeon Ben Carson reminded voters in his closing remarks of the professional background that separates him from the rest: “I’m the only one to separate Siamese twins.”

Throughout the debate, Donald Trump was the unrivaled lightning rod, but the prime-time showdown made clear he’s not the only fighter on the stage – or in the race.

New Jersey Gov. Chris Christie reclaimed his reputation as a tough-talking executive, blasting his rivals for their positions on domestic surveillance and entitlements. Kentucky Sen. Rand Paul traded barbs with several candidates, including Christie.

Meanwhile, one-time front-runner former Florida Gov. Jeb Bush found himself on defense several times and largely avoided tangling with Trump on the Fox News/Facebook stage.

Perhaps the most fiery moment came in an exchange between Christie and Paul. Long-simmering tension between the two exploded when Christie stood by his criticism of the senator for opposing NSA bulk collection of Americans’ phone data.

Paul said he’s “proud of standing for the Bill of Rights,” but Christie called his stance “completely ridiculous” – suggesting he wants to cherry-pick only some data.

“When you’re sitting in the subcommittee just blowing hot air about this, you can say things like that,” Christie said.

https://www.foxnews.com/politics/2015/08/06/sparks-fly-at-opening-gop-debate-as-trump-wont-pledge-no-independent-run/

 

Drudge Report Poll showed Trump a Clear winner at  415am this morning with an astonishing 52.24% of the vote 

SOCIAL MEDIA SAYS CARLY FIORINA WINS EARLY REPUBLICAN DEBATE

https://www.breitbart.com/california/2015/08/06/social-media-says-fiorina-wins-early-republican-debate/?utm_source=facebook&utm_medium=social

 

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Reader suggests Bring a clock to Village Council Meetings and respectfully remind the chair and/or council that you entitled to your 5-minutes and to please not interrupt.

Village _council_meeting_theridgewoodblog

file photo by Boyd Loving
Chapter 3. Administration of Government

Article II. Village Council

§ 3-19. Manner of addressing Council.

[Amended 1-11-1994 by Ord. No. 2442]
A.
Persons other than Council members may be permitted to address the Council in the proper order of business. A person present may, upon recognition by the Chair, be heard either upon ordinances upon second reading or at the time of petitions and oral communications from the public and at such other times as the Council may, by majority vote of those present, specifically permit. No person shall address any remark or question to any specific Council member, nor shall any person be permitted to address the Chair while a motion is pending. A Council member may, through the Chair, respond to any communication or address received pursuant to this section.
B.
Except upon consent of the Council, by the majority vote of those present, each person addressing the Council pursuant to this section shall be required to limit his remarks to five minutes and shall at no time engage in any personally offensive or abusive remarks. On a hearing on ordinances on second reading, a person who has previously addressed the Council on the issue may be permitted a period of no more than an additional five minutes, after all others desirous of speaking on the issue have had an opportunity to do so, provided the comments of the speaker are not repetitive. The Chair shall call any speaker to order who violates any provision of this section.

My suggestion would be to prepare a 5-minute comment and use the entire time allotted. Bring a clock and respectfully remind the chair and/or council that you entitled to your 5-minutes and to please not interrupt.

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FBI: Middle Eastern Men Intimidating U.S. Military Families In Colorado & Wyoming

1416083745336_wps_65_Jihadi_John_Alan_Henning

August 4, 2015 11:59 PM

DENVER (CBS4) – An alert has been issued by the FBI to all law enforcement agencies in Colorado and Wyoming involving U.S. military families and concerns about who may be watching them.

The alert says Middle Eastern men are approaching families of U.S. military members at their homes in Colorado and Wyoming. It mentions Greeley and Cheyenne, Wyoming as the specific areas.

In one case last May the wife of a military member was approached in front of her home by two Middle Eastern males. The men stated that she was the wife of a U.S. interrogator. When she denied their claims the men laughed. The two men left the area in a dark-colored, four-door sedan with two other Middle Eastern males in the vehicle.

“The woman had observed the vehicle in the neighborhood on previous occasions,” the alert states.

Similar incidents in Wyoming have been reported to the FBI throughout June 2015.

https://denver.cbslocal.com/2015/08/04/fbi-middle-eastern-men-intimidating-u-s-military-families-in-colorado-wyoming/

 

“FBI Alert: Middle-Eastern Males Approaching Family Members of US Military Personnel,” Oodalooop, August 2, 2015

“In May 2015, the wife of a US military member was approached in front of her home by two Middle-Eastern males. The men stated that she was the wife of a US interrogator. When she denied their claims, the men laughed. The two men left the area in a dark-colored, four-door sedan with two other Middle-Eastern males in the vehicle. The woman had observed the vehicle in the neighborhood on previous occasions.
imilar incidents in Wyoming have been reported to the FBI throughout June 2015. On numerous occasions, family members of military personnel were confronted by Middle-Eastern males in front of their homes. The males have attempted to obtain personal information about the military member and family members through intimidation. The family members have reported feeling scared.

To date, the men have not been identified and it is not known if all the incidents involve the same Middle-Eastern males”

– See more at: https://pamelageller.com/2015/08/fbi-alert-middle-eastern-males-approaching-family-members-of-us-military-personnel.html/?utm_source=dlvr.it&utm_medium=facebook#sthash.z79A1sJC.dpuf

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Hillary Clinton’s Mega-Donors Are Also Funding Jeb Bush

hillary-clinton-what-difference-does-it-make

Racetrack owners, bankers, and chicken kings: Meet the ultra-rich bankrolling the Bush and Clinton dynasties. A special report by Vocativ and The Daily Beast.

For some wealthy donors, it doesn’t matter who takes the White House in 2016—as long as the president’s name is Clinton or Bush.

More than 60 ultra-rich Americans have contributed to both Jeb Bush’s and Hillary Clinton’s federal campaigns, according to an analysis of Federal Election Commission data by Vocativ and The Daily Beast. Seventeen of those contributors have gone one step further and opened their wallets to fund both Bush’s and Clinton’s 2016 ambitions.

After all, why support just Hillary Clinton or just Jeb Bush when you can hedge your bets and donate to both? This seems to be the thinking of a group of powerful men and women—racetrack owners, bankers, media barons, chicken magnates, hedge funders (and their spouses). Some of them have net worths that can eclipse the GDPs of small countries.

https://www.thedailybeast.com/articles/2015/08/04/hillary-clinton-s-mega-donors-are-also-funding-jeb-bush.html

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Donald Trump: “I pay as little as possible” in taxes

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By REBECCA KAPLAN FACE THE NATION August 2, 2015, 10:49 AM

Presidential candidate Donald Trump said Sunday that he pays as little in taxes as possible just like every other taxpayer in America.

“I fight like hell to pay as little as possible for two reasons. Number one, I’m a businessman. And that’s the way you’re supposed to do it,” Trump said in an interview with CBS’ “Face the Nation.” “The other reason is that I hate the way our government spends our taxes. I hate the way they waste our money. Trillions and trillions of dollars of waste and abuse. And I hate it.”

Trump has not yet released his tax returns, but said he has “no major problem” with doing it. And he said he may tie a release of his tax returns to a release of Democratic candidate Hillary Clinton’s emails from her time as secretary of state.

Trump: Patience for the presidency?

The State Department is in the process ofreviewing and releasing more than 55,000 pages of emails Clinton sent and received while in the Obama administration. Clinton has come under fire for using a private email server to conduct business rather than her official government account, and fresh questions emerged last month about whether Clinton used her personal email account to send classified information.

Trump predicted the questions over Clinton’s email practices will “be a devastating blow for Hillary,” and said she would be “in big trouble” if there is “an honorable prosecution” (something he said is unlikely because the prosecutors “are all Democrats”). He compared Clinton’s troubles as a far worse version of the scandal that engulfed former CIA Director David Petraeus, who pled guilty earlier this yearto giving classified information to his mistress and biographer.

https://www.cbsnews.com/news/donald-trump-i-pay-as-little-as-possible-in-taxes/

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Cybersecurity bill could ‘sweep away’ internet users’ privacy, agency warns

big-brother-poster

Sam Thielman

Homeland Security admits Cybersecurity Information Sharing Act raises concerns while corporations and data brokers lobby for bill as it returns to Senate

The Department of Homeland Security (DHS) on Monday said a controversial new surveillance bill could sweep away “important privacy protections”, a move that bodes ill for the measure’s return to the floor of the Senate this week.

The latest in a series of failed attempts to reform cybersecurity, the Cybersecurity Information Sharing Act (Cisa) grants broad latitude to tech companies, data brokers and anyone with a web-based data collection to mine user information and then share it with “appropriate Federal entities”, which themselves then have permission to share it throughout the government.

Minnesota senator Al Franken queried the DHS in July; deputy secretary of the department Alejandro Mayorkas responded today that some provisions of the bill “could sweep away important privacy protections” and that the proposed legislation “raises privacy and civil liberties concerns”.

Much of the attention on Cisa has been directed at companies such as Google, Facebook and Comcast, which have large hoards of internet user behavior. But arguably more important are data brokers. Among the groups lobbying for the passage of Cisa are Experian, which tracks consumer trends using information from loyalty cards and other sources and licenses the information to help target advertising; Oracle, whose Data Cloud product works similarly; and Hitrust, which aggregates healthcare information.

The paragraph generating the most concern can be found in section 4 of the bill: “[a] private entity may, for cybersecurity purposes, monitor A) the information systems of such a private entity; B) the information systems of another entity, upon written consent of such other entity […] and D) information that is stored on, processed by, or transiting the information systems monitored by the private entity under this paragraph.”

https://www.theguardian.com/world/2015/aug/03/cisa-homeland-security-privacy-data-internet

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How a deeper dive by Apple could crush this market

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Published: Aug 4, 2015 10:38 a.m. ET

Crumbles by commodities and the Colossus of Cupertino have been getting much of the blame for the stock market slumping in seven of the past 10 sessions.

“If AAPL doesn’t find its footing soon, it may risk a deeper drop,” writes Andrew Nyquist, over at See It Market.

And as goes the largest company by market value, so goes the whole U.S. stock market. Or at least a further slide by Apple would act as a mighty powerful brake on the S&P 500 SPX, -0.05% SPY, -0.06%  , where it’s about 4% of the benchmark, and on the growthier Nasdaq 100 NDX, -0.44% QQQ, -0.43%  where it’s a 14% chunk.

So, what’s the matter with Apple AAPL, -3.06% ? For the first time since September 2013, the tech giant’s stock has knifed under the closely watched 200-day moving average. Many chart lovers use that as a guide to a stock’s long-term trend.

Also, Apple has entered into what’s often called “correction territory,” by dropping more than 10% from its peak. Go here for more on the iPhone maker’s technicals, from one of MarketWatch’s resident chart nerds, Tomi Kilgore.

Nyquist suggests Apple, which closed at $118.44 on Monday, could tumble into the $109-to-$115 range — an area the tech giant jumped out of in January, after quarterly results crushed forecasts.

https://www.marketwatch.com/story/how-a-deeper-dive-by-apple-could-crush-this-market-2015-08-04

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PUERTO RICO CONFIRMS IT FAILED TO MAKE $58M DEBT PAYMENT

Ricky Martin

Aug 3, 7:21 PM EDT

SAN JUAN, Puerto Rico (AP) — The government of Puerto Rico confirmed Monday that it failed to make a $58 million debt payment in a significant escalation of the debt crisis facing the U.S. island territory.

Puerto Rico made a partial payment of $628,000 in interest but could not afford to make the remainder, which was due Saturday, because the legislature did not appropriate the funds, said Melba Acosta Febo, president of the Government Development Bank.

The government had warned on Friday that it would not make the payment and argued that it should not be considered a default under a technical definition of the term, an argument rejected by Moody’s Investor Service and others.

“This event is consistent with our belief that Puerto Rico does not have the resources to make all of its forthcoming debt payments,” said Emily Raimes, a vice president at Moody’s. “This is a first in what we believe will be broad defaults on commonwealth debt.”

 

https://hosted.ap.org/dynamic/stories/C/CB_PUERTO_RICO_DEBT_CRISIS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2015-08-03-19-21-43