[ This link to a somewhat more
cumulative blog posts page
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Housing experts optimistic, despite sour data Despite
recent dismal statistics on the housing market, experts are increasingly
gaining confidence that the market is on the way to recovery. (Washington Post) [ Oh, yeah … hopium … that
new american strategy. First, it’s addictive; which of course makes the
populace more pliable with their dependence thereon. Second, the so-called experts
and mainstream media along with the polls including
no-recession-helicopter-ben-b.s.-shalom-bernanke have a near exclusive with the
listening public who can understand their addictive talk of ie., ‘green shoots’
springing up all over, etc., but not the financial nuts aand bolts of reality.
Realize this: we’re already experiencing severe inflation owing to excessive
Weimar dollar printing and the home prices are still falling. Moreover, any
price increases in housing would surely indicate that the consequent hyperinflation
has arrived. DAVE FRY IS RIGHT ON THE
MONEY HERE! Dave’s Daily:
http://www.etfdigest.com BERNANKE IN ABC MODE ON ABC 3-27-12
‘Sure, it’s one of my favorite movie scenes and I couldn’t resist it. The Fed
is in full campaign mode as great as Obama and his GOP rivals. When stock
prices seem in doubt the Fed is ready to launch more assurances accommodation
(money printing) will be available. Monday’s rally was typical as we head
toward the end of the quarter. Hedge fund performance fees are on the line and
any way to boost these profits is job one. Top holdings for hedge funds include
the usual suspects: AAPL, IBM, INTC, BAC, DIS, HD etc. With little volume it’s
easy for algos and hedge funds to prop stocks on little hard news. Tuesday we
briefly saw more of this. Just as markets were weakening a story appeared using
the Fed’s favorite oracle, the WSJ, as Fed governor Rosengren
stated, “more stimulus is on the table”. Immediately
HFT algos jumped and markets rose if only briefly.On its face, the Fed wants
higher stock prices to boost confidence in the economy. However from a
practical view ALL THEY’VE SUCCEEDED IN DOING FROM MY PERSPECTIVE IS
DEBASING THE DOLLAR CREATING INFLATION…’, Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting
the global crisis that occurred the following year. I now see a similar
confluence of events .. “the new recession has started.”… Over the past 33
years, we have called the start of every recession..Currently, the GDP deflator
is 1.8%, which hardly reflects the true rise in prices. Therefore, what is
counted as “growth,” is actually price increases. Actual inflation..is now more
than 11%. Using that to adjust GDP for inflation, would show that the economy
is now in a very sharp contraction…’ , ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The
government’s total indebtedness is $211 trillion’ )
The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! Train Reading: The Stock Market Is (Criminally) Insane The
Wall Street Journal , [ECRI Stays with Recession Call New American | The vicious cycle is starting
where lower sales, lower production, lower employment and lower income [leads]
back to lower sales…BOB ADELMANN
New American 3-13-12 http://albertpeia.com/ecricallsrecession.htm , STOCKS
RALLY DESPITE BAD NEWS: Here's What You Need To Know Business Insider , http://albertpeia.com/22signsglobalrecessiondepression.htm Both The Market and Government Are Irrational Paul Craig
Roberts | One of the great economic myths is that markets are rational. Not a
day passes without this myth being disproved scores of times, but the myth
persists. [ 3-26-12 As was so last pre-crash, particularly this election year
of desperation, bernanke resorts to his ‘jaw-boning’ (another dog who made news
called this ‘baffling them with b***s***’); yet, it’s fraudulent wall street
that conditions ‘all’ to believe the easy money / over-printed created Weimar
dollars, a clear negative (you’re paying for the wall street welfare; ie, gas,
food, etc., prices { Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting
the global crisis that occurred the following year. I now see a similar
confluence of events .. “the new recession has started.”… Over the past 33
years, we have called the start of every recession..Currently, the GDP deflator
is 1.8%, which hardly reflects the true rise in prices. Therefore, what is
counted as “growth,” is actually price increases. Actual inflation..is now more
than 11%. Using that to adjust GDP for inflation, would show that the economy
is now in a very sharp contraction…’ } rallies those pieces of paper/computer
entries via HFT algos programmed to go wild with such talk, making this a great
opportunity to sell, take profits while you can, much worse to come! http://albertpeia.com/10reasonsdollarreservecurrencyending.htm , I’ve Never Seen a Confluence of Negative Factors Like
This 3-24-12 http://gainspainscapital.com , DAVE FRY IS RIGHT ON THE MONEY HERE! Dave’s Daily:
http://www.etfdigest.com BERNANKE IN ABC MODE ON ABC 3-27-12
‘Sure, it’s one of my favorite movie scenes and I couldn’t resist it. The Fed
is in full campaign mode as great as Obama and his GOP rivals. When stock
prices seem in doubt the Fed is ready to launch more assurances accommodation
(money printing) will be available. Monday’s rally was typical as we head
toward the end of the quarter. Hedge fund performance fees are on the line and
any way to boost these profits is job one. Top holdings for hedge funds include
the usual suspects: AAPL, IBM, INTC, BAC, DIS, HD etc. With little volume it’s
easy for algos and hedge funds to prop stocks on little hard news. Tuesday we
briefly saw more of this. Just as markets were weakening a story appeared using
the Fed’s favorite oracle, the WSJ, as Fed governor Rosengren
stated, “more stimulus is on the table”. Immediately
HFT algos jumped and markets rose if only briefly.On its face, the Fed wants
higher stock prices to boost confidence in the economy. However from a
practical view ALL THEY’VE SUCCEEDED IN DOING FROM MY PERSPECTIVE IS
DEBASING THE DOLLAR CREATING INFLATION…’ , And 14 of 16 On Dallas Fed Miss 3-26-12 The Dallas
Fed Manufacturing Outlook just came with its largest miss of expectations in 9 months - and biggest drop in 7 months..
A 10.8 print vs expectations of 17.0 dropped the index back to its lowest since
December and keeps the 'good is good but bad is better' dream alive..’, Don’t be fooled by the money illusion MarketWatch | Rising prices are
making some statistics look better than they really are. [ The ‘psychological factor’ has always been
a component in the valuation of securities which valuations, good or ill,
collectively give rise to the ‘markets’. The mythical part is the presumption
of rationality accorded the ‘market-makers’ which, despite their glaring
irrationality and propensity for fraud (I’d conservatively say that wall street
is comprised predominantly, I’d estimate 90%, of psycho/sociopathic personalities),
is still decidedly and pathetically vis-à-vis the rest of the ‘go along to get
along’ world, criminally insane wall street. { The frauds on
wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed!
Train Reading: The Stock Market Is (Criminally) Insane The
Wall Street Journal } It should be
obvious by now, particularly with the advent of ubiquitous, lightning fast
programmed computerization, that the markets are fraudulently manipulated in a
bigger way now than ever; and, not without great cost ultimately to muppets /
taxpayers like you, whether in the markets or not.They do it for the money;
and, sick as they are, to be screwin’ at least someone all of the time which
perversely gives them pleasure! ]
This is an especially great opportunity to sell / take profits with stocks
floating on air in contraindicated ‘Weimar dollar bubble rally’ as preceded
last crash. Suckers’ rally into the close off lows and in shades of the dot com
bubble with Apple the fraudulent stock market’s one-trick pony (‘in play’,
pricey, big weighting and big bang for the market buck, and compared to what).
Competition will ultimately (no real breakthroughs on horizon) take a big bite
out of the Apple, which along with price targets is way over valued (currently
being manipulated to the upside by the ‘muppet masters’ given the 20% weighting
for maximum fraudulent effect). I say this despite liking Apple. They’re loving
Apple to death on fraudulent wall street which is a testament to the pathetic
state of american and world technology which is horrendous. As my first computer
(Apple IIc, 1986) I’m glad they survived but they’re way, way over-valued.
Aside from the IPAD (at best and even that’s a stretch, and past history at
that), there’s really nothing there, which is a testament to the stupidity of
american consumers particularly. Wake up! What total frauds! 11 Reasons Why America Would Be A Better Place
Without Goldman Sachs [ If only it was just 11 and not an endless number
of reasons why the aforesaid is true! And, though america particularly, not
just america, but the entire world as well! ] http://albertpeia.com/americabetterwithoutgoldmansachs.htm , Guest Post: Money from Nothing - A Primer on Fake
Wealth Creation and its Implications (Part 2) ZeroHedge.com 3-14-12 ‘Only
in a debt-based money system could debt be curiously cast as an asset. We’ve
made “extend and pretend” a quaint phrase for a burgeoning market for financial
lying and profiteering aimed toward preventing the collapse of a debt- (or
lack-) based system that was already doomed by its initial design to collapse.’ Election year temp jobs,
trade deficit up, GDP projection down, business inventories miss,
manipulations, obfuscations… Dave’s Daily:
http://www.etfdigest.com STOCK RALLY
FADES WITH CDS ISSUE 3-9-12 [ Dave
astutely points out: “Jobless Claims Thursday were weaker than expected (362K
vs 351K expected and prior revised higher to 354K). Did you know that prior
weekly Jobless Claims data has been revised higher 100% of the time over the past
two years? How does that happen this consistently?” – Which I refer to as the
‘data ponzi scheme’ wherein new fake data is used to buoy markets as prior
reported fake data is reconciled closer to reality. 3-15-12 Yes, and again,
prior week revised up . ] Does China's Forex Policy Beggar Its Neighbors? The Wall Street Journal [ Are you sure the author didn’t mean ‘bugger
its neighbors’? Sounds like it; but, it’s really all about cost structures
which are far less in China which is the primary reason for China’s export
success. Manipulation of currencies is an artifice that the west will
ultimately prove does not work at all (all that over-printing / creating of fiat
Weimar paper currencies is a time-tested loser).]Rumor planted by fed of QE3 light spurs rally, not the fake, uneconomic
jobs estimate from jersey adp for election year spin purposes which only fools
believe. How desperate and pathetic! For those who think this money-printing out of
thin air is without cost, you’re in for a worse than rude awakening. The global
markets have become a joke! This is a ‘full press’ as in ‘fiat paper printing
presses in overdrive’ debased Weimar dollars / currencies that will end quite
badly so take this opportunity to take profits while you can. The manipulated,
contrived, and fake data has all been unaffordably ‘electioneared’ for
‘electionyeared’ spin and propaganda. Don’t be their fool! The full moon
previously helped keep the contraindicated lunatics’ huge suckers’ rally going
with across the board media et als complicity (infra). But not quite … reality
(will) catch(es) up … you know the drill … typical suckers’ surge into the
close off lows, etc.. Today’s data looked pretty bad to me, even with the
manipulations/spin otherwise, ie., Durable goods orders drop by most in 3 years AP , etc.. Then there was
previously the manipulated revision to make this month’s distressed,
foreclosure sales (backlog) look better. Total scam! This will all end quite
badly and is much like the ‘floating on air’ stock price scenario that preceded
the dot.com and most recent, continuing debacles. { http://albertpeia.com/todaysbusinesssummarylinks.htm - today’s business summary links only, by day – scroll down as
well for today’s links and for more complete context – Encouraged and
recommended! } This global suckers’ rally is based
on market frothing hopium for unaffordable, contraindicated, failed QE/wall
street only welfare (which is being injected sub rosa, see infra), bad news, fraud, b***s***, and desperation alone, as suckers’
rallies ushered in the new year in a most preposterous fashion [Forget
the “January Effect”… Instead Skousen http://www.investmentu.com/2010/December/january-effect-vs-siegel-indicator.html http://albertpeia.com/forgetthejanuaryeffect.htm , INVESTORS, SKIP THE 'JANUARY INDICATOR' FOR
STOCKS Jan. 26, 2012 Mark Hulbert [ the frauds on wall street still shootin’
for the superstitious so-called ‘January effect’ based on based on
market frothing hopium for unaffordable, contraindicated, failed QE/wall street
only welfare, bad news, fraud, b***s***, and
desperation alone to suck suckers in and keep suckers sucked in! Don’t be their
fool! Mohammed El Erian gets this and to Frank Motek 1070am relates that he’s
using the up moves to reduce risk assets / stocks / exposure, in other words,
he’s selling the rallies which is sound advice [3-12-12: I’ve previously
recommended this business report; but, like everything in america, it’s gotten
so bad as in the first 30 minutes I calculated approximately 6 minutes of
business report and the balance predominantly advertising and some cbs network
stuff before I had to turn it off – I might listen again in a year, if at all.
Terrible! ]. The fundamentals/realities, current and prospective, are worse
than ever. There are no systems/formulas for these unprecedentedly dire times.
Don’t be their sucker! This is an especially great opportunity to sell / take
profits because there’s much, much worse to come! Here’s a simple chart of the
Dow’s history http://albertpeia.com/dowjonesindavghistory.htm . Keep in mind how lowly the dollar’s become
in terms of purchasing power and relative to metals as ie., gold, etc.. Don’t
be scammed by the frauds on wall street, et als.] with lingering intoxication
an explanation as the printing presses and issuance of worthless insurmountable
debt paper are in full throttle globally (a testament to global blindness as
the blind follow the blind) making this impending disaster at this time an
especially great opportunity to sell / take profits because there’s much, much
worse to come! jersey-lautenberg based adp with 100% better than expectations
private sector jobs number? Nobody thinks so (infra)! Scandal scarred commerce
department data? Labor dept. ue claims / ue numbers? Only a fool believes what
they say! ( After One Month Respite, Pink Slips Are Flying Again Durden , Lies, Damned Lies, and (Unemployment) Statistics Mac
Slavo | The actual unemployment rate in the United States is in
excess of 22%. , NFP Payrolls At 200K, Expected At 155K; Unemployment Rate
Drops To 8.5%, Labor Force Participation At Lowest Since 1984 Durden on 01/06/2012 .. Yet the unemployment rate
trickery still continues, with labor force participation (prior revised), now
at a 27 year low of 64%, and the labor force itself declined by 50K from
153,937 to 153,887. In fact, persons not in the labor force have increased by 7.5 million
since January 2007! Bottom line - dropping out of labor
statistics is the new killing it. http://www.albertpeia.com/laborparticipationrate.jpg , ) The same for the conference board
which came in with 100% better than expected consumer confidence, which is
preposterous even taking into consideration the ‘ultimate bootstrap’ bubble
stock price weighting in same. The lack of ‘politicians’ at
S&P/Case/Shiller showed a different picture: ’house prices in
20 major metropolitan areas declined 1.2 percent on an unadjusted basis in
October after falling 0.7 percent the prior month’. ( US Economic Data Reporting Now Officially A Farce: Every
Economic Data Point Prints 4+ Std Devs Above Consensus Zero Hedge ) Watch for more fake reports / data / and spin in their infinite political
desperation both here and across the sea, and suckers’ rallies to suck suckers
in and keep suckers sucked in! [ ‘The Currency Wars’ http://www.albertpeia.com/rickardsgrantboltoninterviewvideo.htm , David Rosenberg On The Depression, The ECB, MF Global As A
Canary In The Coalmine... All With A Surprise Ending Durden,
This is No Cyclical Recession… It is a Secular DE-pression Phoenix
Capital , MF GLOBAL
EXPLAINED http://www.youtube.com/watch?v=jLt05sN7vK0&feature=player_embedded [causal links between OTC
derivatives, the financial crisis of 2008, Alan Greenspan, Robert Rubin, Larry
Summers, Jon Corzine and MF Global, ‘Quantitative Easing Explained’ http://www.youtube.com/watch?v=PTUY16CkS-k , ’ Famed economist
predicts economic calamity in 2012. See the evidence. http://w3.newsmax.com/a/aftershockb/video.cfm 50% unemployment & 90% Dow crash
also predicted. Newsmax ,
Economic / Financial Collapse Imminent – Stansberry Investment Advisory http://www.albertpeia.com/stansberrysinvestmentadvisory.flv Harry Dent, Jr. Economy will be in
a Depression by 2011 Dow will Fall to 3,800
– 4,500 by 2012 Nasdaq will Fall Below
1,100, its 2002 low, by late 2010 or mid-2012 at the latest. U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels Greatest Economic and Banking Crisis since the
1930s will Occur Between 2010 and 2012). , ‘…technical
pattern is predicting the S&P plunges to 935Bank of America via Zero Hedge Mary Ann Bartels, Bank of America's Head of Technical and
Market Analysis , 935 is nothing; the S&P 500
will crash to 579.57United-ICAP's Walter Zimmerman (via WSJ's Tom Kilgore) is a technical analyst who has been looking at the charts and
they're telling him that the S&P is headed for 579.57…’ , The
Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show
That Is Coming http://theeconomiccollapseblog.com http://albertpeia.com/2008crisisjustwarmupforcomingcollapse.htm Why
earnings will continue to decline MarketWatch , 10 Things That Every American Should Know About The Federal
Reserve
Eco.Coll.Blog http://albertpeia.com/10thingsmustknowaboutfedreserve.htm #1 The Federal Reserve System
Is A Privately Owned Banking Cartel #2 The Federal Reserve System Is A
Perpetual Debt Machine #3 The Federal Reserve Has Destroyed More Than 96% Of
The Value Of The U.S. Dollar #4 The Federal Reserve Can Bail Out Whoever It
Wants To With No Accountability #5 The Federal Reserve Is Paying Banks Not To
Lend Money #6 The Federal Reserve Creates Artificial Economic Bubbles That Are
Extremely Damaging #7 The Federal Reserve System Is Dominated By The Big Wall
Street Banks #8 It Is Not An Accident That We Saw The Personal Income Tax And
The Federal Reserve System Both Come Into Existence In 1913 #9 The Current
Federal Reserve Chairman, Ben Bernanke, Has A Nightmarish Track Record Of
Incompetence #10 The Federal Reserve Has Become Way Too Powerful , A Warning Sign For The World http://albertpeia.com/warningsignfortheworld.htm Any
financial system that is based on debt is doomed to fail. Today, we are living
in the greatest debt bubble that the world has ever seen … , Despite
Two Thirds Of Components Declining, Empire Fed Prints At Highest Since June
2010 ZeroHedge
| Chalk this one to “seasonal adjustments” or something, cause we no longer
have any clue what is going on with the data fudging in America. , 20 Signs
You Might Be A Typical American Worker http://albertpeia.com/20signsoftypicalamericanworker.htm , 10 Signs That America Is Decomposing Right In Front
Of Our Eyes http://albertpeia.com/10signsamericadecomposing.htm
, 8 Reasons Why The Greek Debt Deal May Not Stop A
Chaotic Greek Debt Default http://albertpeia.com/8reasonsgreekdebtdefaultstillcoming.htm
, 55 Interesting Facts About The U.S. Economy In 2012 http://albertpeia.com/55factsaboutus2012economy.htm ‘How is
the U.S. economy doing in 2012? Unfortunately, it is not doing nearly as
well as the mainstream media would have you believe. Yes, things have
stabilized for the moment but this bubble of false hope will not last for
long. The long-term trends that are ripping our economy and our financial
system to shreds continue unabated. When you step back and look at the
broader picture, it is hard to deny that we are in really bad shape and that
things are rapidly getting worse. Later on in this article you will find
a list of interesting facts that show the true state of the U.S. economy… ,
http://albertpeia.com/debtpercapita.jpg , Double-dip recession setting in across
eurozone: EU Thomson | AFP , America 1950 vs. America 2012 http://albertpeia.com/downhillslideofamerica.htm , Society’s Five Stages of Economic Collapse http://albertpeia.com/5stagesofcollapse.htm David Meyer shtfplan.com March 1,
2012 ,
No Housing Recovery - Case Shiller Shows 8th
Consecutive Month Of House Price Declines Durden 2-28-12 Little that
can be added here. The December Case Shiller came, saw, and
shut up all those who keep calling for a home price recovery. The Index printed
at 136.71 on expectations of 137.11, with the prior revised to 138.24. The top
20 City composite was down -0.5% on expectations of a 0.35% drop. 18 out of 20
MSAs saw monthly declines in December over November… , Goldman: Germany Is Now On The Hook By €1 Trillion
(Or 40% Of GDP) Durden, , 20 Economic Statistics To Use To Wake Sheeple Up From
Their Entertainment-Induced Comas http://albertpeia.com/20ecostatstowakesheeple.htm , Central bank balance sheet expansion since end 2007 Mar 1st, 2012 by News (ZeroHedge) — SNB +230%; Fed
+222%, BOJ +125%, BOE +87%, PBOC +93%, ECB +51%. USA Gold / PG View: Pretty strong evidence that
the rally in bonds — and by extension the rally in stocks — is nothing but a
charade. , 10.7 Percent: Unemployment In Europe Is Worse Than It
Was At The Peak Of The Last Recession http://albertpeia.com/europeunemploymentworsethanrecession.htm The
unemployment rate in the eurozone is now 10.7 percent. That is the
highest the unemployment rate has been since the introduction of the
euro. The unemployment rate in the eurozone never got any higher than
10.2 percent during the last recession. This is very troubling
news. It was just recently announced that the eurozone has entered another recession, and
already the unemployment rate is hitting new record highs… , Inflation Is A Tax And The Federal Reserve Is Taxing
The Living Daylights Out Of Us http://albertpeia.com/inflationisatax.htm , Guest Post: Cause, Effects & The Fallacy Of A
Return To Normalcy Durden 3-6-12, Market Takes First Big Loss Of 2012
As Investors Eye Greek Debt Swap Forbes , 15 Potentially Massive Threats To The U.S. Economy
Over The Next 12 Months http://albertpeia.com/15massivethreatstoeconomy.htm
, 1 Through 30 – The Coming U.S. Financial Crisis By
The Numbers http://albertpeia.com/1-30usfinancialcrisiscoming.htm , Gallup Finds February US Unemployment Jumps Most
Since 2010, Third Consecutive Monthly Increase Durden 3-8-12 , Initial Claims Miss Expectations, Rise For Third
Consecutive Week For First Time Since August 2010 Durden 3-8-12 , Greece Has Defaulted - Which Country In Europe Is
Next? http://albertpeia.com/greecehasdefaultedwhonext.htm
, Five Charts That Prove We’re in a Depression and That
the Federal Reserve and Washington Are Wasting Money March 12, 2012 By gpc1981
http://albertpeia.com/usindepressionfedandgovwastingmoney.htm , Broken Promises: Pensions All Over America Are Being
Savagely Cut Or Are Vanishing Completely .. this exact scenario is playing out from coast
to coast and in the years ahead millions of elderly Americans are going to be
affected by broken promises and vanishing pensions.. http://albertpeia.com/uspensionscutorvanishing.htm , America Is Being Transformed From A Wealthy Nation
Into A Poor Nation At Breathtaking Speed America is losing wealth far faster than any
other nation on earth is. http://albertpeia.com/ustransformedfromwealthytopoor.htm
, As US Rakes Largest Monthly Deficit In History, 2012
Tax Revenues Net Of Refunds Trail 2011 Durden 3-12-12 , Guest Post: The Audacity of Bonuses At MF Global Durden 3-12-12 In the
spirit of George Orwell’s Animal Farm
commandment: “all animals are equal, but some animals are more equal then
others” comes the galling news that bankruptcy trustee, Louis Freeh, could
approve the defunct, MF Global to pay bonuses to certain senior executives.
This, despite the fact that nearly $1.6 billion of customer funds remains
“missing” or otherwise partially accounted for, yet beyond the reach of those
customers, perhaps forever, since before the firm declared bankruptcy on
October 31, 2011... , 11 Reasons Why America Would Be A Better Place
Without Goldman Sachs [ If only it was just 11 and not an endless number
of reasons why the aforesaid is true! And, though america particularly, not
just america, but the entire world as well! ] http://albertpeia.com/americabetterwithoutgoldmansachs.htm , S&P Says Improbable Any Economic Improvement
Would Bring Back AAA US Rating Durden 3-15-12 Sigh:
*S&P says that it is impossible that any economic improvement would bring
back the AAA rating *US deficit progress is needed. *Outlook remains negative.-
And what do stocks do on latest S&P report that America is broke? Why they
surge of course.... , The U.S. Economy: Soul Crushing Total System Failure http://albertpeia.com/ustotalsystemfailure.htm , Kass: The Market Is Overvalued at TheStreet By Doug Kass { Yes,
this is true; but, he’s still too optimistic in that he doesn’t point out that
the election year manipulations / obfuscations will cause things to end far
worse than his anticipation. } , An Open Letter to All Presidential Candidates March 19, 2012 By gpc1981 http://albertpeia.com/grahamsummerswarnings.htm , Ben Bernanke Tries To Convince America That The
Federal Reserve Is Good And The Gold Standard Is Bad http://albertpeia.com/benbsshalombernankesellsfedpansgoldstandard.htm [
greenspan and now bernanke are incompetent and total failures creating and
exacerbating current and prospective conditions for the sake of fraudulent wall
street at everyone else’s expense! ] , 10 Signs That America Is On The Verge Of A Horrible
Municipal Debt Crisis http://albertpeia.com/americanmunicipaldebtcrisis.htm , Bursting The Permabullish Bubble: 11 Out Of 13
Economic Indicators Have Missed Durden 3-22-12 , Corzine Corzined - Congressional Panel Finds Former
MF Global CEO Ordered JPM Fund Transfer Durden 3-23-12 [ ‘Jon S. Corzine,
MF Global Holding Ltd.’s chief executive officer, gave “direct instructions” to
transfer $200 million from a customer fund account to meet an overdraft in one
of the brokerage’s JPMorgan Chase & Co. accounts in London, according to an
e-mail sent by a firm executive. Edith O’Brien, a treasurer for the firm,
said…’] , TBTF Get TBTFer: Top 5 Banks Hold 95.7%, Or $221
Trillion, Of Outstanding Derivatives Durden 3-26-12 , 10 Reasons Why The Reign Of The Dollar As The World
Reserve Currency Is About To Come To An End http://albertpeia.com/10reasonsdollarreservecurrencyending.htm , Dave’s Daily:
http://www.etfdigest.com BERNANKE IN
ABC MODE ON ABC 3-27-12 ‘Sure, it’s one of my favorite movie scenes and I
couldn’t resist it. The Fed is in full campaign mode as great as Obama and his
GOP rivals. When stock prices seem in doubt the Fed is ready to launch more
assurances accommodation (money printing) will be available. Monday’s rally was
typical as we head toward the end of the quarter. Hedge fund performance fees
are on the line and any way to boost these profits is job one. Top holdings for
hedge funds include the usual suspects: AAPL, IBM, INTC, BAC, DIS, HD etc. With
little volume it’s easy for algos and hedge funds to prop stocks on little hard
news. Tuesday we briefly saw more of this. Just as markets were weakening a
story appeared using the Fed’s favorite oracle, the WSJ, as Fed governor Rosengren
stated, “more stimulus is on the table”. Immediately
HFT algos jumped and markets rose if only briefly.On its face, the Fed wants
higher stock prices to boost confidence in the economy. However from a
practical view all they’ve succeeded in doing from my perspective is debasing
the dollar creating inflation. The latter will be a problem for the next
administration and even the current generation. It’s an all about “now” market
in a politically charged year… , Bernanke Claims That The Fed Has Averted A Second
Great Depression By Bailing Out The Too Big To Fail Banks http://albertpeia.com/weareinsecondgreatdepression.htm [ To the contrary, because of his policies and
particularly the bailouts which facilitated consummation of and even greater
frauds, the real economy, the nation, taxpayers will suffer a more severe fate
than even that obfuscated by bad policy in this election-year expedience! ‘…
When the last financial crisis began, the U.S. national debt was about 10
trillion dollars. Today, it has risen to 15.5 trillion dollars. So Bernanke did not fix anything. The best
that can be said is that he kicked the can down the road a little bit and made
our long-term financial problems a lot worse at the same time. Bernanke can
create money out of thin air and loan it to his friends all he wants, but he is
not going to be able to prevent this house of cards from crashing down…’ . He’s
as much a fraud and incompetent bozo as ‘his buds who put him there’ for their
purpose / benefit. The guy’s a dope http://albertpeia.com/30bunglebenbernankequotes.htm , a fool which fact is lost on no one
vis-à-vis the debased Weimar dollar http://albertpeia.com/10reasonsdollarreservecurrencyending.htm , who’s delusional http://albertpeia.com/bunglerbenfedfedsfailure.htm . He’s a
total fraud! ] , Graham Summers’ Weekly Market Forecast (a tenuous
balance) March 27, 2012 By gpc1981
‘…big trouble
is lurking just beneath the surface. And should anything upset the current
balance being maintained, we could see some real fireworks in the markets in
short order.Indeed, we are facing a confluence of negative factors regarding
Europe (political, monetary, fundamental, and technical) that indicate BIG
TROUBLE could be hitting in May-June …’ , SkyNet Wars: How A Nasdaq Algo Destroyed BATS Durden 3-27-12 (What really happened is that a malicious, 100%
intentional Nasdaq algorithm purposefully brought BATS stock to a price of
0.00 within 900 millisecond of the company's break for trading!)
Following the May 2010 flash crash, the investing public hoped that as part of
its "exhaustive report", the SEC would find and hold responsible the
various components of a broken market structure, be it HFTs, ETFs, stubbing and
sub-pennying algorithms, and all the other knowns and unknowns we have covered
over the years. Instead, in what would prove to be a move of cataclysmic
stupidity (if sadly understandable - the SEC, like everyone else "in
charge" is used to dealing with a gullible and simplistic public, which
has no access to the real data and analysis, and whose opinion could be easily
manipulated, at least until now), the regulator blamed and scapegoated it all
on a Waddell and Reed trade (we wonder just what the quid pro quo was to get
the asset manager to roll over and take the blame despite protestations to the
contrary, at least in the beginning). The result was that the same investing public
realized that market structure is so corrupt, and so robotically mutated, there
is no place for the small investor in this broken market. Last week's BATS IPO
fiasco merely confirmed this. And as usual, BATS (whose chairman Ratterman has just been demoted even as he
stays on as CEO) decided to take the "passive voice"
approach and blame it all on a faceless, emotionless, motiveless "software glitch"… What
happened is that a malicious, 100% intentional Nasdaq algorithm
purposefully brought BATS stock to a price of 0.00 within 900 millisecond of
the company's break for trading! This is open SkyNet warfare.’ , This
Is The World's Balance Sheet Durden 3-27-12 It is rather surprising that in a world in which
anything and everything is only about money, it is next to impossible to find a
consolidated balance sheet of the world's insolvent economies (i.e., the
developed countries: US, Japan and the Euro Area). So for all those seeking a
visual presentation of all the liabilities that have to be inflated away by the
central banks (because that's what this is all about), rejoice: the broke world is presented below in its glory.
The irony is that the problem would be quite fixable if it weren't for one
minor issue: the bulk of the world's
assets also happen to be its liabilities! At the end of the
day, this may prove to be the fatal flaw in the chairman's attempt to dilute
the global liabilities, he will be doing the same with the assets. , Six Variations On A Theme By Printerini Durden 3-27-12 A prevalent
theme over the past 3 months has been the emergence of the Schrödinger world,
where on one hand we have a world as it is, and on the other, as central
planners, propaganda media, and a president caught up in a reelection campaign would want it to be. Luckily, that world only had a binary
bifurcation associated to it - and a simple observation of the mythical collapsed
its wave function in less time than it would take BATS to commit corporate
suicide. A much more fun world emerges when one enters the superstring
reality of the Federal Reserve, and especially its chairman, where there are
not two, not three, but a whopping six dimensions of (mis)perception, all
dependent on one's point of view. Courtesy of Silver Circle we present them
all. , On Europe's 'Stealth' Money Printing Durden 3-27-12 ‘…This
consequence has two rather ugly consequences, it removes still further collateral (assets encumbered) from
bank balance sheets and further delays
the needed adjustment process (read deleveraging) across the
banking sector. , Taylor 'Rules' Fed Independence In Question Durden 3-27-12 John
Taylor, of the Taylor-Rule, who has not been sheepish with his views towards
the Fed openly questioned the Fed's independence during a speech to the Joint
Economic Committee today. During his testimony at the hearing on the 'Sound
Dollar Act of 2012', Taylor noted: "The
discretionary interventions of the Federal Reserve have been ratcheted up in
such unprecedented ways in recent years that they raise fundamental questions
about the future of monetary policy." Perhaps more
pointedly, especially given Bernanke's speech today on the Fed's extreme
actions and given the hope for a constant interventionist role for the Fed to
keep our economy market afloat "The fact that the Fed can, if it
chooses, intervene without limit into any credit market - raises more
uncertainty, and of course raises
questions about why an independent agency of government should have such power."
, CTRL+SPIN 3: The Fed Propaganda Tour Live Re-Educates
Us On Their Response To The Financial Crisis Durden 3-27-12 UPDATE (via Bloomberg): *BERNANKE: `FORCEFUL' RESPONSE PREVENTED WORSE
RECESSION and AIG HAS STABILIZED - phewee... [Yes, indeed; this b***s*** is now
beyond the pale! ]Today could be the day when all your beliefs and
misconceptions of the great central banking machine are set straight. After
explaining to us in the previous two lecture how the gold standard is just
silly, why central banks are constitutionally awesome, and how the Fed almost
single-handedly created the US since World War II, today's piece-de-resistance is Bernanke's take on his
own response to the financial crisis. We are sure it will be
thorough in its discussion of the massive
and entirely hidden loans for nothing that were given to the banks,
how they encouraged the risk-taking that led to it via their regulatory mis-controls,
and removing MtM and unlimited free-money helped the world go around - all the
while maintaining a strong-dollar policy inline with Treasury's apparent
mandate. As far as Word-Bingo: Tweet if you hear the word 'Helicopter' or
'Printing Press' or 'Level 3 Assets are all worthless illiquid junk at best'
and if Bernanke says 'CDO' more than 10 times, we all get an animated silver
bear. , A Lesson For Europe: Why Iceland Won't Join The Euro Durden 3-27-12 In a brief
but as usual succinct statement, MEP
Daniel Hannan points out the country that decided to say no to
establishment-rules and stuck to its guns by taking losses, devaluing its
currency, and growing its way out of its pit of despair. The eloquent
Englishman notes Iceland's current
enviable position in terms of not just growth but Debt to GDP
and proffers upon his European Parliamentarian peers that perhaps, just
perhaps, there is a lesson in here for
all European governments (cough Greece/Portugal cough). 67% of
'shrewd and canny' Icelanders are now against joining the Euro. , It's Official - The Fed Is Now Buying European
Government Bonds Durden 3-27-12 As if the
'risk-less' dollar-swaps the Fed has extended to any and every major central
bank were not enough, William Dudley just unashamedly admitted that the Fed now holds 'a very small amount of European
Sovereign Debt'. , The Gap Between Reality And Consensus Is Growing Fast Durden 3-27-12 , Guest Post: Welcome to the United States of Orwell,
Part 2: Law-Abiding Taxpayers Treated As Criminals Durden 3-27-12 Law-abiding
taxpayers are treated like criminals while the criminal class of financiers and
State apparatchiks are free to loot and pillage muppets and taxpayers alike.
It's actually very simple: whatever the
state or Federal government does to you, that's legal. Whatever
action you take to protect your rights is illegal. In case you have any doubts
about where our "leadership" is taking us, please review these Assorted quotes by Fascists or about Fascism. , Confidence Drops As Consumers Brace For Surge In
Inflation Durden 3-27-12 , Germany: The Final Frontier... Whose True Debt/GDP Is
Now 140% Durden 3-27-12 , Case Shiller Finds Home Prices Declined For 9th
Consecutive Month In January Durden 3-27-12 Despite
January being the first of 3 record warm winter months, which saw virtually all
other economic indicators boosted on the heels of 'April in February', today's
incomplete Case Shiller data (Charlotte, NA was missing), indicated that in the
first month of the year, prices across the top 20 MSAs dropped once again,
posting a 9th consecutive decline, declining by 0.04% to 136.60. The Seasonally
Adjusted print brings the average home price to December 2002 levels. And just
to avoid Seasonal Adjustment confusion which courtesy of a record warm winter
is all the rage, the NSA data showed a -0.84% drop in January. , Bill Gross: "The Game As We All Have Known It
Appears To Be Over" Durden 3-27-12 First it
was Bob Janjuah throwing in the towel in the face of central planning, now we
get the same sense from Bill Gross who in his latest letter once again laments
the forced transfer of risk from the private to the public sector: "The game as we all have known it appears to be over...
moving for the moment from private to public balance sheets, but even there
facing investor and political limits. Actually
global financial markets are only selectively delevering. What delevering there
is, is most visible with household balance sheets in the U.S. and Euroland
peripheral sovereigns like Greece." Gross' long-term view
is well-known - inflation is coming: "The total amount of debt however is daunting and continued credit
expansion will produce accelerating global inflation and slower growth in
PIMCO’s most likely outcome." The primary reason for
Pimco's pessimism, which is nothing new, is that in a world of deleveraging
there will be no packets of leverage within the primary traditional source of
cheap credit-money growth: financial firms… As for the endgame: "Is a systemic implosion still possible in
2012 as opposed to 2008? It is, but we will likely face much more monetary and
credit inflation before the balloon pops. Until then, you should budget for
“safe carry” to help pay your bills. The bunker portfolio lies further
ahead."
http://www.albertpeia.com/todayspage.htm
http://albertpeia.com/todaysbusinesssummarylinks.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm
http://albertpeia.com/22signsglobalrecessiondepression.htm
U.S. consumers hold onto rosy outlook in March
despite higher gas prices Americans are focusing on the good — the rebounding
stock market and growing employment numbers — in a flood of mixed economic
news. (Washington Post) [ Well, why
not? They’re paying for that ‘rebounding stock market’ with what will soon be
recognized as the consequent hyperinflation from the QE’s, overprinting of
Weimar currency all for the sake of the frauds on wall street, and uneconomic,
ie., $275,000 per stimulus job all for the sake of failed wobama administration
among other incumbent politicians. So, u.s. consumers? Boy they are dumb! Financial Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting
the global crisis that occurred the following year. I now see a similar
confluence of events .. “the new recession has started.”… Over the past 33
years, we have called the start of every recession..Currently, the GDP deflator
is 1.8%, which hardly reflects the true rise in prices. Therefore, what is
counted as “growth,” is actually price increases. Actual inflation..is now more
than 11%. Using that to adjust GDP for inflation, would show that the economy
is now in a very sharp contraction…’ DAVE
FRY IS RIGHT ON THE MONEY HERE! Dave’s Daily:
http://www.etfdigest.com BERNANKE IN ABC MODE ON ABC 3-27-12
‘Sure, it’s one of my favorite movie scenes and I couldn’t resist it. The Fed
is in full campaign mode as great as Obama and his GOP rivals. When stock
prices seem in doubt the Fed is ready to launch more assurances accommodation
(money printing) will be available. Monday’s rally was typical as we head
toward the end of the quarter. Hedge fund performance fees are on the line and
any way to boost these profits is job one. Top holdings for hedge funds include
the usual suspects: AAPL, IBM, INTC, BAC, DIS, HD etc. With little volume it’s
easy for algos and hedge funds to prop stocks on little hard news. Tuesday we
briefly saw more of this. Just as markets were weakening a story appeared using
the Fed’s favorite oracle, the WSJ, as Fed governor Rosengren
stated, “more stimulus is on the table”. Immediately
HFT algos jumped and markets rose if only briefly.On its face, the Fed wants
higher stock prices to boost confidence in the economy. However from a
practical view ALL THEY’VE SUCCEEDED IN DOING FROM MY PERSPECTIVE IS
DEBASING THE DOLLAR CREATING INFLATION…’ ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The government’s
total indebtedness is $211
trillion’ )
http://www.albertpeia.com/todayspage.htm
http://albertpeia.com/todaysbusinesssummarylinks.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm
http://albertpeia.com/22signsglobalrecessiondepression.htm
MF Global’s frantic final days In
testimony prepared for a House hearing, former CFO describes her fears that
clients’ funds were at risk (Washington
Post) [ At risk? Duh! Come on, clients’ funds were stolen. No mystery here,
except for the syncronicity of psychogenic amnesia running through MF Global
from top to bottom at or around the time pervasive looting was happening. Corzine Corzined - Congressional Panel Finds Former
MF Global CEO Ordered JPM Fund Transfer Durden 3-23-12 [ ‘Jon S.
Corzine, MF Global Holding Ltd.’s chief executive officer, gave “direct
instructions” to transfer $200 million from a customer fund account to meet an
overdraft in one of the brokerage’s JPMorgan Chase & Co. accounts in
London, according to an e-mail sent by a firm executive. Edith O’Brien, a
treasurer for the firm, said…’] , TBTF Get TBTFer: Top 5 Banks Hold 95.7%, Or $221
Trillion, Of Outstanding Derivatives Durden 3-26-12 , 10 Reasons Why The Reign Of The Dollar As The World
Reserve Currency Is About To Come To An End http://albertpeia.com/10reasonsdollarreservecurrencyending.htm , MF GLOBAL EXPLAINED http://www.youtube.com/watch?v=jLt05sN7vK0&feature=player_embedded [causal links between OTC
derivatives, the financial crisis of 2008, Alan Greenspan, Robert Rubin, Larry
Summers, Jon Corzine and MF Global, ‘Quantitative Easing Explained’ http://www.youtube.com/watch?v=PTUY16CkS-k
11 Reasons Why America Would Be A Better Place
Without Goldman Sachs [ If only it was just 11 and not an endless number
of reasons why the aforesaid is true! And, though america particularly, not
just america, but the entire world as well! ] http://albertpeia.com/americabetterwithoutgoldmansachs.htm , Guest Post: Money from Nothing - A Primer on Fake
Wealth Creation and its Implications (Part 2) ZeroHedge.com 3-14-12 ‘Only
in a debt-based money system could debt be curiously cast as an asset. We’ve
made “extend and pretend” a quaint phrase for a burgeoning market for financial
lying and profiteering aimed toward preventing the collapse of a debt- (or
lack-) based system that was already doomed by its initial design to collapse.’ Election year temp jobs, trade
deficit up, GDP projection down, business inventories miss, manipulations,
obfuscations…
( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The
government’s total indebtedness is $211 trillion’ )
http://www.albertpeia.com/todayspage.htm
http://albertpeia.com/todaysbusinesssummarylinks.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm
http://albertpeia.com/22signsglobalrecessiondepression.htm
Meyerson: The rich keep getting richer (Washington Post) [ This truly is an important
article topically; but, I’m constrained to say Mr. Meyerson is
uncharacteristically euphemistic in his treatment of this subject. A more
apropos title for this piece would be, ie., ‘Crime Pays in America (and pays
well)’ or ‘It Pays To Be A Criminal in america’ or in a nation as pervasively
corrupt, defacto bankrupt america where one is innocent until proven guilty in
a court of law, control the controllables in preventing the criminals from
being declared such in a court of law which means corrupt judges, prosecutors,
legislators, etc., all of whom are being bribed one way or another; hence, the
title headline; ie., ‘Criminals Controlling the Controllables’. Fraudulent wall
street is the most flagrant example and of recent memory; yet, the government
contracts, even illicit businesses as arms, drugs, etc., have received their
share of love, support, and protection from the government. 11 Reasons Why America Would Be A Better Place
Without Goldman Sachs [ If only it was just 11 and not an endless number
of reasons why the aforesaid is true! And, though america particularly, not
just america, but the entire world as well! ] http://albertpeia.com/americabetterwithoutgoldmansachs.htm , Guest Post: Money from Nothing - A Primer on Fake
Wealth Creation and its Implications (Part 2) ZeroHedge.com 3-14-12 ‘Only
in a debt-based money system could debt be curiously cast as an asset. We’ve
made “extend and pretend” a quaint phrase for a burgeoning market for financial
lying and profiteering aimed toward preventing the collapse of a debt- (or
lack-) based system that was already doomed by its initial design to collapse.’ Election year temp jobs,
trade deficit up, GDP projection down, business inventories miss,
manipulations, obfuscations… , MF
GLOBAL EXPLAINED http://www.youtube.com/watch?v=jLt05sN7vK0&feature=player_embedded [causal links between OTC
derivatives, the financial crisis of 2008, Alan Greenspan, Robert Rubin, Larry
Summers, Jon Corzine and MF Global, ‘Quantitative Easing Explained’ http://www.youtube.com/watch?v=PTUY16CkS-k , Guest Post: The Ascendence Of Sociopaths In US
Governance Durden 3-21-12 How did we
get here? An argument can be made that miscalculation, accident, inattention
and the like are why things go bad. Those elements do have a role, but it is
minor. Potential catastrophe across the board can't be the result of
happenstance. When things go wrong on a grand scale, it's not just bad luck or
inadvertence. It's because of serious character flaws in one or many – or even
all – of the players. So is there a root cause of all the problems I've cited?
If we can find it, it may tell us how we personally can best respond to the
problems. In this article, I'm going to argue that the US government, in
particular, is being overrun by the wrong kind of person. It's a trend that's
been in motion for many years but has now reached a point of no return. In
other words, a type of moral rot has become so prevalent that it's
institutional in nature. There is not going to be, therefore, any serious
change in the direction in which the US is headed until a genuine crisis
topples the existing order. Until then, the trend will accelerate. The reason is that a certain class of people –
sociopaths – are now fully in control of major American institutions. Their
beliefs and attitudes are insinuated throughout the economic, political,
intellectual and psychological/spiritual fabric of the US.
Madoff’s enduring cloud over the SEC At a House
hearing on the SEC’s funding request, the specter of a con man who wasn’t
caught continued to haunt the agency.
(Washington Post) [ Clouds indeed! Regular noreaster! And he, but a piker by
american fraud standards. More like walking on eggshells when it comes
carefully navigating ‘the who got what, gave what to, did what for whom’
terrain of corruption so entrenched in america that has precluded both
effective prosecution; and hence, deterrent. Why
insider trading probes are awkward for SEC (Washington Post) [ If only it wasn’t true that
‘where there’s a will, there’s a way’! Clearly, a lack of will and conflicts,
bribes / quid pro quo, even destruction of evidence, have plagued the SEC. Yet,
their’s is only the province of civil remedies with at best criminal referrals
to the DOJ for prosecution; good luck with that (remember all those
prosecutions promised last election time by what is now the wobama / holder doj
of the still extant high level wall street frauds in the trillions…never
happened - { Obama
flush with financial sector cash The president has managed to raise more money this
year from the sector than any GOP contender. (WP) ( So much for obama and OWS;
but how ‘bout wobama and obs … yes, more ‘obama b*** s***
! The quid pro quo … the bribe … Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it
...Obama, who vowed change, has done almost nothing to fix any of it and
in fact continues most of the policies that helped get us here in the first
place’ ‘INSIDE JOB’ Ferguson wins
Oscar for Documentary on the unprosecuted massive extant fraud in the (many)
TRILLIONS by the frauds on wall street ( and declares with oscar in hand that
not one high level wall street exec has been prosecuted … despite ‘earning’
billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv , http://albertpeia.com/10mostcorruptpols.htm ) }
Insider-trading
probe targets House panel chair Rep. Bachus EXCLUSIVE | Chairman of the House Financial Services
Committee is being investigated. 'This is
a dog and pony show'
(Washington Post) [ Yeah! And he’s both the dog and the pony. As for the
paulson meeting and denial of ‘inside information’, one can
only say for certain, giving bachus the temporary but unlikely benefit of the
doubt, that paulson should be in jail for what they did for their buds at
goldman et als. And dern it, as a wine man by definition, how else is he going
to afford the finest vintages and bacchanalian rituals? Yet, one must agree
that they’re already pretty well overpaid http://albertpeia.com/govemployeeretirement.jpg . Well, I
guess there’s a little Geckoish (‘Wall Street’, Oliver Stone) wall street
‘greed is good’ in all capital hill / government connected reps.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv Does
regulation really kill jobs?
(Washington Post) [ Just those corruption-related ones; those organized crime,
as well as disorganized crime jobs for which there’s plenty of ‘quid pro quo’,
bribes, etc., to go around. Energy
Dept. failed to act as Solyndra sank (WP) [ This stuff is becoming all too typical. I
believe it’s time to start questioning what federal employees get paid for.
After all, pervasively corrupt america is defacto bankrupt ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The
government’s total indebtedness is $211 trillion’ ) .
Moreover, america’s pervasive corruption, even crimes, has become synonomous with the machinations
of any number of federal agencies / departments / all branches of
government (ie., DOJ – holder/fast and
furious/race bias UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black defendants and white victims ,
Fannie / Freddie Mac , SEC destroyed documents, senator says 17 Aug 2011 ‘The
Securities and Exchange Commission destroyed documents and compromised
enforcement case ... “It doesn’t make sense that an agency responsible for
investigations would want to get rid of potential evidence…’ Report:
SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a
‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe
thing’ in pervasively corrupt, defacto bankrupt, fallen america. Indeed, the scenario typifies that
national drain / sinkhole new york (new york / new jersey metro) where, for
example, FBI informants were routinely exposed by ‘italians’ in the new york
d.a.’s office over the objection of the FBI, and were murdered by mafia /
organized crime [ this was documented with authority in ‘Goombata: The
Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman ] SEC
faulted over records shredding The SEC
destroyed internal documents that should have been preserved as official
federal records, the agency’s inspector general has found. (Washington Post) [
Oh, if it was only that, and only the SEC; and if only they did an incisive
investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html Paul Joseph
Watson | Over two dozen Republicans call for Holder to resign. Though heavily
redacted, the documents directly discuss “Operation Fast and Furious” and how it involves
“trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly
my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Financier Stanford is convicted on most charges (Washington Post) [ The astute people at
zerohedge.com are all over this, pointing out that the biggest frauds to date
(in the trillions, giving rise to the crisis, still extant and cashed out by
way of legislative complicity by way of change to the FASB rule change that now
marks the worthless paper to anything), by the biggest ‘players’/frauds, have
yet to be prosecuted.
In case
anyone cares:
Of course,
his real crime was not
realizing that if you are going to get busted for ponzinomics, you better make
sure everyone goes down with you. In the meantime, rejoice, sheep, for the
theater of Ponzi crime and punishment continues. Then again one wonders: why
are the perpetrators of the biggest Ponzi of all time, i.e., the central
bankers, walking free? Or Jon Corzine for that matter?
Why
insider trading probes are awkward for SEC (Washington Post) [ If only it wasn’t true that
‘where there’s a will, there’s a way’! Clearly, a lack of will and conflicts,
bribes / quid pro quo, even destruction of evidence, have plagued the SEC. Yet,
their’s is only the province of civil remedies with at best criminal referrals
to the DOJ for prosecution; good luck with that (remember all those
prosecutions promised last election time by what is now the wobama / holder doj
of the still extant high level wall street frauds in the trillions…never
happened - { Obama
flush with financial sector cash The president has managed to raise more money this
year from the sector than any GOP contender. (WP) ( So much for obama and OWS;
but how ‘bout wobama and obs … yes, more ‘obama b*** s***
! The quid pro quo … the bribe … Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it
...Obama, who vowed change, has done almost nothing to fix any of it and
in fact continues most of the policies that helped get us here in the first
place’ ‘INSIDE JOB’ Ferguson wins
Oscar for Documentary on the unprosecuted massive extant fraud in the (many)
TRILLIONS by the frauds on wall street ( and declares with oscar in hand that
not one high level wall street exec has been prosecuted … despite ‘earning’
billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv , http://albertpeia.com/10mostcorruptpols.htm ) }
America’s
shine is wearing off I know
why we are falling into a cataclysm of debt and can’t get out. (WP) [ Ah, yes.
The Puritans. Of noble purpose, religious freedom, freedom generally did they
come to these shores. A rare exception to the influx of immigrants to this
young nation who turned out to be more a virus to the indigenous peoples of
this land than what could have been expected from those of noble calling.
Indeed, in evolutionary terms, it’s doubtful that those so positioned abroad
would have represented a positive addition to the gene pool which, borrowing
from an insurance term, viz., adverse selection, springs forth the notion of
inevitability to the genocide of the indigenous populations while guaranteeing
the decline we see throughout this foundering nation. The effects of these
negative predispositions toward inherent criminality is certainly being felt
globally as well as domestically and has little to recommend it. My own direct
experience with the region(s) (particularly new jersey, new york, virginia,
connecticut, california) carves out no exception for the prevalence of the
worst of human nature; which is now collectively and pervasively
americana. Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg
bankrupt america also spends more on military than all the nations of
the world combined... fed employees / contractors, cia, all 3 branches of u.s.
gov’t, etc., are included in this evolved american trait of inherent criminality
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1
|
11,877,218 |
|
|
# 2
|
6,523,706 |
|
|
# 3
|
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
http://www.albertpeia.com/todayspage.htm
http://albertpeia.com/todaysbusinesssummarylinks.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm
http://albertpeia.com/22signsglobalrecessiondepression.htm
German town fears loss of U.S. Army base will shake
loose longtime U.S. tilt Baumholder’s
identity may no longer be tied up in red, white and blue as it braces for
Pentagon cutbacks. (Washington Post) [
Oh come on! You’ve been reading too much american propaganda. Of all places,
Germany. I think they’ll get by. I think they’ll manage. I think they’ll survive.
Moreover, there’s not the slightest doubt in my mind that the Germans will be
glad to see the american troops go, beyond the propaganda which is in no short
supply here. Fears? I doubt it. Some minimal financial pain requiring rather
simple adjustment? Maybe, but worth it for them. 10 Reasons Why The Reign Of The Dollar As The World
Reserve Currency Is About To Come To An End http://albertpeia.com/10reasonsdollarreservecurrencyending.htm , TBTF Get TBTFer: Top 5 Banks Hold 95.7%, Or $221
Trillion, Of Outstanding Derivatives Durden 3-26-12 , 10 Reasons Why The Reign Of The Dollar As The World
Reserve Currency Is About To Come To An End http://albertpeia.com/10reasonsdollarreservecurrencyending.htm , ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The
government’s total indebtedness is $211 trillion’ )
Soldier accused in Afghan rampage identified Staff Sgt.
Robert Bales, who had not wanted to deploy to Afghanistan after being injured
in Iraq, watched a comrade lose his leg in an explosion just hours before he
allegedly killed 16 Afghan civilians, his lawyer says. ‘This is just sad and tragic all the way around’ (Washington Post) [ ‘Sad and tragic all the
way around’. Indeed! So easy and magnanimous a thing to say, and so cathartic.
Yet, let us not kid ourselves. It’s far more sad and tragic for the innocent
civilian men, women, and children who were murdered as they slept by what is
more typical domestically and internationally of the quintessential american
mental case though few are want to admit this unstated truth. , Guest Post: The Ascendence Of Sociopaths In US
Governance Durden 3-21-12 How did we
get here? An argument can be made that miscalculation, accident, inattention
and the like are why things go bad. Those elements do have a role, but it is
minor. Potential catastrophe across the board can't be the result of
happenstance. When things go wrong on a grand scale, it's not just bad luck or
inadvertence. It's because of serious character flaws in one or many – or even
all – of the players. So is there a root cause of all the problems I've cited?
If we can find it, it may tell us how we personally can best respond to the
problems. In this article, I'm going to argue that the US government, in
particular, is being overrun by the wrong kind of person. It's a trend that's
been in motion for many years but has now reached a point of no return. In
other words, a type of moral rot has become so prevalent that it's
institutional in nature. There is not going to be, therefore, any serious
change in the direction in which the US is headed until a genuine crisis
topples the existing order. Until then, the trend will accelerate. The reason is that a certain class of people –
sociopaths – are now fully in control of major American institutions. Their
beliefs and attitudes are insinuated throughout the economic, political,
intellectual and psychological/spiritual fabric of the US.
For U.S., bad news on Afghanistan war continues (Washington Post) [ Yes, indeed it does; continue
that is, that bad news…except for the heroin trade which is booming, a source
of pride for ‘the world’s policeman’ aka the pervasively corrupt, defacto
bankrupt disunited states of america, aka the clichéd quintessential ‘corrupt
cop’. Drug war
hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt
banksters PF
Louis | The hypocrisy of the war on drugs is centers on the
amount of drug trafficking that benefits the CIA and international banking
system. Natural
News
February 1, 2012 [ http://albertpeia/americangovernmentdrugtrafficking.htm http://albertpeia/americascorruptiondrugtrade.htm http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ] ‘The
hypocrisy of the war on drugs is outrageous when compared to the amount of drug
trafficking that benefits the CIA and international banking system. The son of
a convicted notorious mobster, John Gotti Jr, when asked in court if the family
still dealt drugs cracked, “No, we can’t compete with the government.”
(America also
leads in the illegal drug trade. In fact, many researchers reveal that
the war on drugs is only utilized to control and monopolize the illicit
drug trade. The US government has been caught multiple times shipping in
cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA , http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related , http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related , http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related , http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related ] , colluding
with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html ] to control
the industry, and now openly protects and transports
opium from Afghanistan [ http://www.youtube.com/watch?v=ElEciFI0Pew ] . In fact, Global Research points out that in 2001, “according to UN figures, opium production had
fallen to 185 tons. Immediately following the October 2001 US led invasion,
production increased dramatically, regaining its historical levels.” This
month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [ http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world ] ; up 61% compared
to 2010 to a whopping 5800 tons. Although the empire tries to keep
it secret, they can’t hide the hypocrisy forever. [ website archived
links http://albertpeia.com/uscocainedistributionfiles.htm )
Will: Those pesky things called laws (Washington Post) [ Come on Mr. Will! This is
america, the ‘meaningfully lawless’ land,
you’re talking about! Oh yeah, there are loads of laws; yet, even
arbitrary enforcement at best is hard to come by. After all, the biggest wall
street frauds in the trillions have yet to be prosecuted, et cetera, et cetera:
Repeal ‘Stand Your Ground’ As Trayvon
Martin’s death shows, such laws are a license to kill. (Washington Post) [ Well, the fact
is that criminals who make neighborhood watch necessary need no licenses to
kill. Indeed, this 3-24-12 robbery/murder by a black of a white store-owner who
complied with all the killer’s demands and offered no resistance or provocation
and complete compliance, was killed by the ‘rabid dog’ anyway. At some point
rational people must say, ‘thus far and no further’! Stand your ground must
stand! People should be more objective, and not base their opinions as this
clearly on shades of race and inherent bias alone! UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...(WP) ‘ignore cases that involve black
defendants and white victims’
Zimmerman
claims Martin started confrontation, broke his nose Attorney for
man who shot teen says client also suffered injuries to head; boy’s parents
dispute account. (Washington Post) [ I
believe Zimmerman and as well, the eyewitness to the incident. Drudgereport: COPS: Zimmerman says Trayvon decked him with one blow then began
hammering his head on sidewalk...
'Suffered broken nose and had injury to back of
head'...
Martin had been suspended from school for marijuana...
Black
Panthers offer $10,000 bounty for 'capture' of Trayvon Martin's killer … [ who
do these filthy niggers think they are? ] Take a look at this nigger who kills
a white man during robbery, without any provocation from the victim ... http://albertpeia.com/typicalblackmanonneighborhoodwatch.htm
Shooter of Florida teen not a racist, lawyer says...
SECRET WITNESS: Self-defense... [Witness:
Martin attacked ZimmermanUpdated: Monday, 26 Mar 2012, 2:57 PM EDT
ORLANDO - A witness we haven't heard from before paints a much different
picture than we've seen so far of what happened the night 17-year-old Trayvon
Martin was shot and killed.The night of that shooting, police say there was a
witness who saw it all.Our sister station, FOX 35 in Orlando, has spoken to
that witness.What Sanford Police investigators have in the folder, they put
together on the killing of Trayvon Martin few know about.The file now sits in
the hands of the state attorney. Now that file is just weeks away from being
opened to a grand jury.It shows more now about why police believed that night
that George Zimmerman shouldn't have gone to jail.Zimmerman called 911 and told
dispatchers he was following a teen. The dispatcher told Zimmerman not to.And
from that moment to the shooting, details are few.But one man's testimony could
be key for the police."The guy on the bottom who had a red sweater on was
yelling to me: 'help, help…and I told him to stop and I was calling 911,"
he said.Trayvon Martin was in a hoodie; Zimmerman was in red.The witness only
wanted to be identified as "John," and didn't not want to be shown on
camera.His statements to police were instrumental, because police backed up
Zimmerman's claims, saying those screams on the 911 call are those of
Zimmerman."When I got upstairs and looked down, the guy who was on top
beating up the other guy, was the one laying in the grass, and I believe he was
dead at that point," John said.Zimmerman says the shooting was self defense.
According to information released on the Sanford city website, Zimmerman said
he was going back to his SUV when he was attacked by the teen.Sanford police
say Zimmerman was bloody in his face and head, and the back of his shirt was
wet and had grass stains, indicating a struggle took place before the
shooting.’ ] Trayvon Martin shooter: Teen went for my gun
Former NAACP leader accuses Sharpton, Jackson of 'exploiting'
Trayvon Martin...
'His family should be outraged'...
Mother
seeks to trademark dead son's name …[ For what? Trayvon hoodies? ]...
Many
wear hoodies as churches remember Trayvon...
http://abclocal.go.com/kabc/story?section=news/local/los_angeles&id=8594147
http://albertpeia.com/typicalblackmanonneighborhoodwatch.htm
‘Timothy Johnson, 24, is shown in this 2007 mugshot provided by the Los Angeles
County Sheriff's Department.’ (KABC Photo) Calif. (KABC) – ‘Sheriff's officials released the
name of the man they say shot and killed the owner of a computer shop in
Lancaster.
The suspect
was identified as 24-year-old Timothy Johnson, described as being 6 feet 2
inches tall, weighing about 170 pounds with a dark complexion (negro-black) and
a closely shaved head.
Detectives
say Johnson reportedly entered eChaps Computers and More at 2007 W. Avenue K on
Friday, shot and killed store owner Reed Lewis Keith and left with stolen
electronics in hand.
Johnson
reportedly fled in a black, 1980s model four-door car driven by an accomplice.
Investigators said Johnson was wearing a black hooded sweatshirt and a ski mask
at the time of the robbery…’
New Black Panthers Call for Vigilante
Justice in Trayvon Martin Case Kurt Nimmo | “An eye for an eye, a tooth for a tooth,” declares
Mikhail Muhammad, leader of the group.
Obama’s response to Fla. shooting case reveals
evolution in approach to race Comments
about teen’s death is deeply personal and completely universal, but avoids
taking sides. (Washington Post) [ Well, it’s true that other blacks have a
different idea about evolution in racial matters ( VIDEO:
Black Student Becomes Enraged In Evolution Class, Threatens To Kill
Professor... http://albertpeia.com/blackthreatenstokillprofessorstudentsoverhersimianancestry.htm ); yet, I disagree that he hasn’t taken sides. Saying the subject child
would look like him seems pretty close to taking sides on the basis of color.
After all, though a mulatto, one could never say that obama could ever be
mistaken for white. Moreover, the context differs from other, say black on
white crime which is far more prevalent, where the subject Zimmerman was trying
to do, however inartfully as here, a positive thing for the neighborhood which
has as throughout america been overrun with crime. http://albertpeia.com/blackonwhitecrime.htm
http://www.albertpeia.com/whitesvictimizedbyblacks.htm .
'Dead or
Alive' Poster Issued by New Black Panther Party... [ ‘Minority Report’ Division of
Pre-Crime, Pre-Cogs say, ‘Dead or Alive – all blacks’ … whatever the outcome in
the investigative process, the stark reality is that at least, unlike the
blacks committing many more ‘black on white’ violent crimes, Zimmerman (and this is no endorsement – I
won’t be looking at this one incident all that closely) was at least trying to
do a good thing made necessary by the ever increasing number of brutal crimes
committed by the black thugs in neighborhoods across the nation; then there’s
somalian pirates, etc.. People domestically and internationally are suffering
from black-fatigue and are totally blacked out. Oh, yeah, there are some
Hollywood types who feel good about themselves having blacks around and helping
blacks to help them feel better than they really are, insecure as they are, by
being better than at least someone beyond fantasy. Loony george clooney is one.
Dreadfully boring and with that monotone, monotonous voice and not that bright,
he’s not even able to fake it on screen as an action hero (ie., batman, what a
horrific miscast) wimpy pussy in reality that he is; then there’s the ‘black
(sean) penn’ who cried like a baby while incarcerated for a couple of days not
that long ago. The atheist jolie, so fatherly troubled as she is, has let the
equally mentally troubled pitt (she’s so nutty she makes him feel somewhat sane
though still not too bright) and pendulum ‘backwoods bob’ be the closest she’s
gotten to her black projects. Let them live anonomously (in disguise) with the
blacks for some time for a real close look and then see what’s left of their
predisposed love for the black. Then there’s the italian scallion, booby
deniro; drug addled as his black wife high-tower, what a total embarrassment to
Italians everywhere; even as he tried to ingratiate himself recently with
blacks everywhere and particularly national embarrassment mammy michele with
the embarrassing pro-black first lady remark..
[ Send the blacks back to sub-saharan Africa! ]
'BLACK
BLACKS [ NOT WHITES BY BLACKS THE IMPLICATION DESPITE FACTUAL DATA TO THE
CONTRARY ] ARE UNDER ATTACK [ SAYS BLACK
SHAKEDOWN ARTIST JACKSON] ' [ Hold on one cotton-pickin’ minute
jesse, that’s not what the facts say Obama: ‘If I had a son, he’d look
like Trayvon.’ [ Yeah! He’d look just like any other black. And,
don’t worry about the black vote, failed president wobama the b for b***s***
will get nearly if not all, 100% of the black vote! Drudgereport: Farrakhan
Threatens 'Retaliation'… [ Retaliation? Can you imagine the number of blacks
that would have to be retaliated against based upon the hushed reality of the
prevalence of black on white crime? The blacks should be careful what they wish
for in playing that game because the facts don’t break in their favor. ] ...
People have become weary of making up excuses for blacks
(like obama, holder, etc.). At some point, as now, people should not be timid
about relating the cold, unvarnished truth statistically / factually about
blacks and, ie., black on white violent
crime, etc..
From Pat Buchanan: As for racism, its ugliest manifestation is in interracial
crime, and especially interracial crimes of violence. Is Barack Obama aware
that while white criminals choose black victims 3 percent of the time, black
criminals choose white victims 45 percent of the time? Is Barack aware that
black-on-white rapes are 100 times more common than the reverse, that
black-on-white robberies were 139 times as common in the first three years of
this decade as the reverse? We have all heard ad nauseam from the Rev. Al about
Tawana Brawley, the Duke rape case and Jena. And all turned out to be hoaxes.
But about the epidemic of black assaults on whites that are real, we hear
nothing.
http://www.albertpeia.com/whitesvictimizedbyblacks.htm
The reality is that blacks are an
insoluble problem wherever they are. That’s not going to ever change; not
make-shift/make-work jobs; not programs; not anything tried or to be tried;
hence, they must be treated as exactly that – problems – before a solution can
be derived and fashioned. ] [ Send the
blacks, including blackbama back to sub-saharan africa! ]
APNewsBreak: Marine critical of
Obama faces charge [ This one caught my eye. While it is true that good
soldiering requires absolute discipline by definition, oaths should be taken
seriously, honored, and given effect. That said, burning Qurans was the product
I assume of orders reflecting even more than just stupidity; hence, whoever
gave the order should pay the piper. If
no order, and stupidity as with urinating on the bodies of the dead, can and
should the actors be held accountable for such gross stupidity? Absolutely!
However, one must be mindful of the reality that marines invariably have ‘skin
in the game’ when it comes to consequences of commanders in chief incompetence,
unlawful acts, poor judgment particularly as impacted by questionable mental
states (arbitrarily taking the last three presidents as illustrative, viz.,
clinton, bush, obama certainly reflect this reality and concern coupled with
the unnecessary murderous results of their actions). There has been a
longstanding rebuke of the ‘just following orders’ defense accorded soldiers
since particularly the nazi regime as an example. As such, Stein certainly
should be lauded for saying what all soldiers should already know; namely, the
unlawful detention of americans, among other constitutionally barred activities
should not be among those orders they are willing to follow. The proscriptions
of posse comitatus should also serve as a guide. This is particularly important
given the fragile mental state of americans generally, and america’s leadership
especially. No longer is it, if ever it was, true that americans can be trusted
to do the right thing. In fact, quite the opposite is true. Wobama is a
desperate and incompetent failure as president whose invariable breach of
campaign promises is a testament to his unsuitability for the office he
currently occupies; and, one can only thank Stein for recognizing what could
devolve into a much more serious and devastating scenario for the nation owing
to wobama’s ever increasing political desperation. Broadly and generally, murky
areas as this, even involving the military, should be resolved in favor of free
speech, first amendment guarantees and against censorship. Guest Post: The Ascendence Of Sociopaths In US
Governance Durden 3-21-12 How did we
get here? An argument can be made that miscalculation, accident, inattention
and the like are why things go bad. Those elements do have a role, but it is
minor. Potential catastrophe across the board can't be the result of
happenstance. When things go wrong on a grand scale, it's not just bad luck or
inadvertence. It's because of serious character flaws in one or many – or even
all – of the players. So is there a root cause of all the problems I've cited?
If we can find it, it may tell us how we personally can best respond to the
problems. In this article, I'm going to argue that the US government, in
particular, is being overrun by the wrong kind of person. It's a trend that's
been in motion for many years but has now reached a point of no return. In
other words, a type of moral rot has become so prevalent that it's
institutional in nature. There is not going to be, therefore, any serious
change in the direction in which the US is headed until a genuine crisis
topples the existing order. Until then, the trend will accelerate. The reason is that a certain class of people –
sociopaths – are now fully in control of major American institutions. Their
beliefs and attitudes are insinuated throughout the economic, political,
intellectual and psychological/spiritual fabric of the US.
Paul
Joseph Watson | Media
Matters is a White House front group. [ Though a frequent critic of neo-con
Limbaugh, I’m against any and all attempts, particularly by desperate wobama et
als to shut him down based on what he’s said. ]
McCain, Lieberman, Graham on Afghanistan (Washington Post) [ I say this without even a tinge
of sarcasm and as serious as serious can be. If these guys had served during
the administration of the last truly great but substantially underrated
President General Eisenhower, as cogs in the military industrial complex /
zionists / neocons their political careers would have been over before he left
office. The nation generally, and connecticut particularly should be thankful
lieberman’s gone as his efforts, energies on behalf of israel have always been
antithetical to the interests of both. These guys are war mongering losers and
have played significant roles in bringing this nation down. (I’m not even going
to get into their inapposite reference to the neo-con wet dream come true; that
‘pearl harbor’ incident they longed for, viz., 911, which served as hot-button
blinders for the nation – there was advance knowledge of this op which was
cheered by israeli agents on the banks of the palisades in weehawken, new
jersey in full view of the imploding towers). The only area in which their
admonitions ring even remotely true is as pertains to the opium/poppy/heroin
trade which will continue under the auspices of the cia but without the muscle
(military) necessary to sustain them long-term (see infra). Then there’s the
indisputable and insurmountable defacto bankruptcy of the pervasively corrupt
disunited states (note the video – 3 minutes which discusses interest costs on
the debt compared to the costs of the
wars-understated and doesn’t figure in deaths of soldiers and prospective
medical costs of the injured). The Simple Problems Of Too Much US Debt Durden 3-20-12 http://albertpeia.com/toomuchusdebt.htm , 10 Signs That America Is On The Verge Of A Horrible
Municipal Debt Crisis http://albertpeia.com/americanmunicipaldebtcrisis.htm
Paul Ryan’s dangerous budget Make no
mistake: his intentionally vague plan envisions draconian cuts. (Washington Post) Editorial Board [ Truth be
told, it’s really not all that often that I’m on the ‘same page’ as the
Washington Post’s Editorial Board (and God knows have the utmost respect for
this great Publishing Company / Newspaper and their historic defense of and
respect for First Amendment, etc.) ; or, ie., Mr. Milbank, etc., who probably
is on the opposite end of the political spectrum from me. Yet, I echo their
concern / sentiment in commenting as follows: Ryan’s reverse Robin Hood His
justification for his irresponsible budget only adds insult to injury. (Washington Post) [ I only wish Mr. Milbank
hadn’t used the phrase, ‘Reverse Robin Hood’, inasmuch as this would be among
those few times I’d be ‘all in’ in support of his position (which I am infra);
but alas, that’s a phrase once used by the deplorable jesse jackson who is a
shakedown artist with absolutely no credibility whatsoever. That said, my
position is as stated in another WP comment as follows: With spending plan, House GOP renews budget clash with
Obama Proposal
would cut social programs and slash taxes for the rich. ‘Paul Ryan is
a national hero’
(Washington Post) [ Hero? Indeed, in a nation of thieves; and, for such a
nation of thieves, look no further than … pervasively corrupt, defacto bankrupt
america. Yes, thieves, frauds; and, if america was just a nation of thieves, frauds
and not the war mongering nation of murderers america’s proven herself to be,
there might be at least some high ground upon which u.s. representatives could
stand. Until the filthy rich frauds on
wall street among others (everyone knows who they are) are prosecuted, jailed,
fined, and disgorgement imposed, not a cent in taxes for all the rich (their
compatriots, oligarchs with relatively few exceptions) nor a even a penny in
programs should be cut. Unfortunately, it’s those corrupt, greedy rich oligarchs
who have had their way in bringing the nation down through misdirected policy
influence (ie., wars/military industrial complex, etc.), protection of huge
frauds still extant (marked to anything courtesy of contraindicated legislated
FASB rule change), etc. (a list too long for this comment). The time has come
for all people in and outside of this nation to embrace this foregoing reality,
truth. All truth passes
through three stages. First, it is ridiculed. Second, it is violently opposed.
Third, it is accepted as being self-evident.--Arthur Schopenhauer
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv Does
regulation really kill jobs?
(Washington Post) [ Just those corruption-related ones; those organized crime,
as well as disorganized crime jobs for which there’s plenty of ‘quid pro quo’,
bribes, etc., to go around. Energy
Dept. failed to act as Solyndra sank (WP) [ This stuff is becoming all too typical. I
believe it’s time to start questioning what federal employees get paid for.
After all, pervasively corrupt america is defacto bankrupt ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The
government’s total indebtedness is $211 trillion’ ) .
Moreover, america’s pervasive corruption, even crimes, has become synonomous with the machinations
of any number of federal agencies / departments / all branches of
government (ie., DOJ – holder/fast and
furious/race bias UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black defendants and white victims , Fannie
/ Freddie Mac , SEC destroyed documents, senator says 17 Aug 2011 ‘The
Securities and Exchange Commission destroyed documents and compromised
enforcement case ... “It doesn’t make sense that an agency responsible for
investigations would want to get rid of potential evidence…’ Report:
SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a
‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe
thing’ in pervasively corrupt, defacto bankrupt, fallen america. Indeed, the scenario typifies that
national drain / sinkhole new york (new york / new jersey metro) where, for
example, FBI informants were routinely exposed by ‘italians’ in the new york
d.a.’s office over the objection of the FBI, and were murdered by mafia /
organized crime [ this was documented with authority in ‘Goombata: The
Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman ] SEC
faulted over records shredding The SEC
destroyed internal documents that should have been preserved as official
federal records, the agency’s inspector general has found. (Washington Post) [
Oh, if it was only that, and only the SEC; and if only they did an incisive
investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html Paul Joseph
Watson | Over two dozen Republicans call for Holder to resign. Though heavily
redacted, the documents directly discuss “Operation Fast and Furious” and how it involves
“trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly
my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Financier Stanford is convicted on most charges (Washington Post) [ The astute people at
zerohedge.com are all over this, pointing out that the biggest frauds to date
(in the trillions, giving rise to the crisis, still extant and cashed out by
way of legislative complicity by way of change to the FASB rule change that now
marks the worthless paper to anything), by the biggest ‘players’/frauds, have
yet to be prosecuted.
In case
anyone cares:
Of course,
his real crime was not
realizing that if you are going to get busted for ponzinomics, you better make
sure everyone goes down with you. In the meantime, rejoice, sheep, for the
theater of Ponzi crime and punishment continues. Then again one wonders: why
are the perpetrators of the biggest Ponzi of all time, i.e., the central
bankers, walking free? Or Jon Corzine for that matter?
Why
insider trading probes are awkward for SEC (Washington Post) [ If only it wasn’t true that
‘where there’s a will, there’s a way’! Clearly, a lack of will and conflicts,
bribes / quid pro quo, even destruction of evidence, have plagued the SEC. Yet,
their’s is only the province of civil remedies with at best criminal referrals
to the DOJ for prosecution; good luck with that (remember all those
prosecutions promised last election time by what is now the wobama / holder doj
of the still extant high level wall street frauds in the trillions…never
happened - { Obama
flush with financial sector cash The president has managed to raise more money this
year from the sector than any GOP contender. (WP) ( So much for obama and OWS;
but how ‘bout wobama and obs … yes, more ‘obama b*** s***
! The quid pro quo … the bribe … Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it
...Obama, who vowed change, has done almost nothing to fix any of it and
in fact continues most of the policies that helped get us here in the first
place’ ‘INSIDE JOB’ Ferguson wins
Oscar for Documentary on the unprosecuted massive extant fraud in the (many)
TRILLIONS by the frauds on wall street ( and declares with oscar in hand that
not one high level wall street exec has been prosecuted … despite ‘earning’
billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv , http://albertpeia.com/10mostcorruptpols.htm ) }
America’s
shine is wearing off I know
why we are falling into a cataclysm of debt and can’t get out. (WP) [ Ah, yes.
The Puritans. Of noble purpose, religious freedom, freedom generally did they
come to these shores. A rare exception to the influx of immigrants to this young
nation who turned out to be more a virus to the indigenous peoples of this land
than what could have been expected from those of noble calling. Indeed, in
evolutionary terms, it’s doubtful that those so positioned abroad would have
represented a positive addition to the gene pool which, borrowing from an
insurance term, viz., adverse selection, springs forth the notion of
inevitability to the genocide of the indigenous populations while guaranteeing
the decline we see throughout this foundering nation. The effects of these
negative predispositions toward inherent criminality is certainly being felt
globally as well as domestically and has little to recommend it. My own direct
experience with the region(s) (particularly new jersey, new york, virginia, connecticut,
california) carves out no exception for the prevalence of the worst of human
nature; which is now collectively and pervasively americana. Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg
bankrupt america also spends more on military than all the nations of
the world combined... fed employees / contractors, cia, all 3 branches of u.s.
gov’t, etc., are included in this evolved american trait of inherent
criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1
|
11,877,218 |
|
|
# 2
|
6,523,706 |
|
|
# 3
|
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Madoff’s enduring cloud over the SEC At a House
hearing on the SEC’s funding request, the specter of a con man who wasn’t
caught continued to haunt the agency.
(Washington Post) [ Clouds indeed! Regular noreaster! And he, but a piker by
american fraud standards. More like walking on eggshells when it comes
carefully navigating ‘the who got what, gave what to, did what for whom’
terrain of corruption so entrenched in america that has precluded both
effective prosecution; and hence, deterrent. Why
insider trading probes are awkward for SEC (Washington Post) [ If only it wasn’t true that
‘where there’s a will, there’s a way’! Clearly, a lack of will and conflicts,
bribes / quid pro quo, even destruction of evidence, have plagued the SEC. Yet,
their’s is only the province of civil remedies with at best criminal referrals
to the DOJ for prosecution; good luck with that (remember all those
prosecutions promised last election time by what is now the wobama / holder doj
of the still extant high level wall street frauds in the trillions…never
happened - { Obama
flush with financial sector cash The president has managed to raise more money this
year from the sector than any GOP contender. (WP) ( So much for obama and OWS;
but how ‘bout wobama and obs … yes, more ‘obama b*** s***
! The quid pro quo … the bribe … Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it
...Obama, who vowed change, has done almost nothing to fix any of it and
in fact continues most of the policies that helped get us here in the first
place’ ‘INSIDE JOB’ Ferguson wins
Oscar for Documentary on the unprosecuted massive extant fraud in the (many)
TRILLIONS by the frauds on wall street ( and declares with oscar in hand that
not one high level wall street exec has been prosecuted … despite ‘earning’
billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv , http://albertpeia.com/10mostcorruptpols.htm ) }
Insider-trading
probe targets House panel chair Rep. Bachus EXCLUSIVE | Chairman of the House Financial Services
Committee is being investigated. 'This is
a dog and pony show'
(Washington Post) [ Yeah! And he’s both the dog and the pony. As for the
paulson meeting and denial of ‘inside information’, one can only say for
certain, giving bachus the temporary but unlikely benefit of the doubt, that
paulson should be in jail for what they did for their buds at goldman et als.
And dern it, as a wine man by definition, how else is he going to afford the
finest vintages and bacchanalian rituals? Yet, one must agree that they’re
already pretty well overpaid http://albertpeia.com/govemployeeretirement.jpg . Well, I
guess there’s a little Geckoish (‘Wall Street’, Oliver Stone) wall street
‘greed is good’ in all capital hill / government connected reps.
Soldier accused in Afghan rampage identified Staff Sgt.
Robert Bales, who had not wanted to deploy to Afghanistan after being injured
in Iraq, watched a comrade lose his leg in an explosion just hours before he
allegedly killed 16 Afghan civilians, his lawyer says. ‘This is just sad and tragic all the way around’ (Washington Post) [ ‘Sad and tragic all the
way around’. Indeed! So easy and magnanimous a thing to say, and so cathartic.
Yet, let us not kid ourselves. It’s far more sad and tragic for the innocent
civilian men, women, and children who were murdered as they slept by what is
more typical domestically and internationally of the quintessential american
mental case though few are want to admit this unstated truth.
Karzai calls for U.S. troops to retreat to bases President
Karzai is demanding that foreign troops in Afghanistan to retreat from villages
and confine themselves to large NATO bases. Taliban announces that it is
suspending preliminary peace talks with the U.S. ‘Control the controllable. Leave today.’ (Washington Post) [ Call it by whatever misnomer you
will; viz, mission, strategy, etc., the reality is that this destructive,
nation-bankrupting debacle is, for all ‘practical’ (actually as impractical as
could even be imagined) purposes, over! It’s all downhill from here and there’s
nothing that can change that!
Ignatius: How to end the Afghan mission (Washington Post) [ What mission? Someone please
tell me! Is it to bankrupt america? Is the mission to become numero uno in the
opium / heroin? Is it to engender anti-american sentiment globally? If any of
the foregoing characterize the mission, I’d say ‘mission accomplished’! Milbank: Gravestones tell story of two wars (Washington Post) [ I’d say more correctly that
gravestones tell the story of all wars. The difference in these two wars
referenced by Mr. Milbank is that both were unnecessary. Yes, sad but true;
they died for nothing; for no good reason whatsoever which reasons include the
paranoid zionist neo-con and israeli mental cases, the military industrial
complex (would never have happened under the great but substantially underrated
President General Eisenhower), political considerations (diversion from the
central problems confronting the nation), money, greed, drug trade preeiminence
(money/greed), etc.. Yes, the story that they tell is one of dying for all the
wrong reasons; of dying for nothing! Panetta arrives in Afghanistan; pledges setbacks will
not alter strategy U.S. likely to stay on course despite strong public
reaction to Koran burnings and deaths of 16 civilians. (Washington Post) [ Strategy? What strategy? Ignatius: How to end the Afghan mission (Washington Post) [ What mission? Someone please
tell me! Is it to bankrupt america? Is the mission to become numero uno in the
opium / heroin? Is it to engender anti-american sentiment globally? If any of
the foregoing characterize the mission, I’d say ‘mission accomplished’! For U.S., bad news on Afghanistan war continues (Washington Post) [ Yes, indeed it does; continue
that is, that bad news…except for the heroin trade which is booming, a source
of pride for ‘the world’s policeman’ aka the pervasively corrupt, defacto
bankrupt disunited states of america, aka the clichéd quintessential ‘corrupt
cop’.
For U.S., bad news on Afghanistan war continues (Washington Post) [ Yes, indeed it does; continue
that is, that bad news…except for the heroin trade which is booming, a source
of pride for ‘the world’s policeman’ aka the pervasively corrupt, defacto
bankrupt disunited states of america, aka the clichéd quintessential ‘corrupt
cop’. Drug war
hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt
banksters PF
Louis | The hypocrisy of the war on drugs is centers on the
amount of drug trafficking that benefits the CIA and international banking
system. Natural
News
February 1, 2012 [ http://albertpeia/americangovernmentdrugtrafficking.htm http://albertpeia/americascorruptiondrugtrade.htm http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ] ‘The
hypocrisy of the war on drugs is outrageous when compared to the amount of drug
trafficking that benefits the CIA and international banking system. The son of
a convicted notorious mobster, John Gotti Jr, when asked in court if the family
still dealt drugs cracked, “No, we can’t compete with the government.”
(America also
leads in the illegal drug trade. In fact, many researchers reveal that
the war on drugs is only utilized to control and monopolize the illicit
drug trade. The US government has been caught multiple times shipping in
cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA , http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related , http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related , http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related , http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related ] , colluding
with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html ] to control
the industry, and now openly protects and transports
opium from Afghanistan [ http://www.youtube.com/watch?v=ElEciFI0Pew ] . In fact, Global Research points out that in 2001, “according to UN figures, opium production had
fallen to 185 tons. Immediately following the October 2001 US led invasion,
production increased dramatically, regaining its historical levels.” This
month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [ http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world ] ; up 61% compared
to 2010 to a whopping 5800 tons. Although the empire tries to keep
it secret, they can’t hide the hypocrisy forever. [ website archived
links http://albertpeia.com/uscocainedistributionfiles.htm )
Will: Those pesky things called laws (Washington Post) [ Come on Mr. Will! This is
america, the ‘meaningfully lawless’ land,
you’re talking about! Oh yeah, there are loads of laws; yet, even
arbitrary enforcement at best is hard to come by. After all, the biggest wall
street frauds in the trillions have yet to be prosecuted, et cetera, et cetera:
Madoff’s enduring cloud over the SEC At a House
hearing on the SEC’s funding request, the specter of a con man who wasn’t
caught continued to haunt the agency.
(Washington Post) [ Clouds indeed! Regular noreaster! And he, but a piker by
american fraud standards. More like walking on eggshells when it comes
carefully navigating ‘the who got what, gave what to, did what for whom’
terrain of corruption so entrenched in america that has precluded both
effective prosecution; and hence, deterrent. Why
insider trading probes are awkward for SEC (Washington Post) [ If only it wasn’t true that
‘where there’s a will, there’s a way’! Clearly, a lack of will and conflicts,
bribes / quid pro quo, even destruction of evidence, have plagued the SEC. Yet,
their’s is only the province of civil remedies with at best criminal referrals
to the DOJ for prosecution; good luck with that (remember all those
prosecutions promised last election time by what is now the wobama / holder doj
of the still extant high level wall street frauds in the trillions…never
happened - { Obama
flush with financial sector cash The president has managed to raise more money this
year from the sector than any GOP contender. (WP) ( So much for obama and OWS;
but how ‘bout wobama and obs … yes, more ‘obama b*** s***
! The quid pro quo … the bribe … Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it
...Obama, who vowed change, has done almost nothing to fix any of it and
in fact continues most of the policies that helped get us here in the first place’ ‘INSIDE JOB’ Ferguson wins Oscar for Documentary
on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds
on wall street ( and declares with oscar in hand that not one high level wall
street exec has been prosecuted … despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv , http://albertpeia.com/10mostcorruptpols.htm ) }
Insider-trading
probe targets House panel chair Rep. Bachus EXCLUSIVE | Chairman of the House Financial Services
Committee is being investigated. 'This is
a dog and pony show'
(Washington Post) [ Yeah! And he’s both the dog and the pony. As for the
paulson meeting and denial of ‘inside information’, one can only say for
certain, giving bachus the temporary but unlikely benefit of the doubt, that
paulson should be in jail for what they did for their buds at goldman et als.
And dern it, as a wine man by definition, how else is he going to afford the
finest vintages and bacchanalian rituals? Yet, one must agree that they’re
already pretty well overpaid http://albertpeia.com/govemployeeretirement.jpg . Well, I
guess there’s a little Geckoish (‘Wall Street’, Oliver Stone) wall street
‘greed is good’ in all capital hill / government connected reps.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv Does
regulation really kill jobs?
(Washington Post) [ Just those corruption-related ones; those organized crime,
as well as disorganized crime jobs for which there’s plenty of ‘quid pro quo’,
bribes, etc., to go around. Energy
Dept. failed to act as Solyndra sank (WP) [ This stuff is becoming all too typical. I
believe it’s time to start questioning what federal employees get paid for.
After all, pervasively corrupt america is defacto bankrupt ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The
government’s total indebtedness is $211 trillion’ ) .
Moreover, america’s pervasive corruption, even crimes, has become synonomous with the machinations of
any number of federal agencies / departments / all branches of government (ie., DOJ – holder/fast and furious/race bias
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black defendants and white victims ,
Fannie / Freddie Mac , SEC destroyed documents, senator says 17 Aug 2011 ‘The
Securities and Exchange Commission destroyed documents and compromised
enforcement case ... “It doesn’t make sense that an agency responsible for
investigations would want to get rid of potential evidence…’ Report:
SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a
‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe
thing’ in pervasively corrupt, defacto bankrupt, fallen america. Indeed, the scenario typifies that national
drain / sinkhole new york (new york / new jersey metro) where, for example, FBI
informants were routinely exposed by ‘italians’ in the new york d.a.’s office
over the objection of the FBI, and were murdered by mafia / organized crime [
this was documented with authority in ‘Goombata: The Improbable Rise and Fall
of John Gotti and His Gang’ Cummings /
Volkman ] SEC
faulted over records shredding The SEC
destroyed internal documents that should have been preserved as official
federal records, the agency’s inspector general has found. (Washington Post) [
Oh, if it was only that, and only the SEC; and if only they did an incisive
investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html Paul Joseph
Watson | Over two dozen Republicans call for Holder to resign. Though heavily
redacted, the documents directly discuss “Operation Fast and Furious” and how it involves
“trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly
my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Financier Stanford is convicted on most charges (Washington Post) [ The astute people at
zerohedge.com are all over this, pointing out that the biggest frauds to date
(in the trillions, giving rise to the crisis, still extant and cashed out by
way of legislative complicity by way of change to the FASB rule change that now
marks the worthless paper to anything), by the biggest ‘players’/frauds, have yet
to be prosecuted.
In case
anyone cares:
Of course,
his real crime was not
realizing that if you are going to get busted for ponzinomics, you better make
sure everyone goes down with you. In the meantime, rejoice, sheep, for the
theater of Ponzi crime and punishment continues. Then again one wonders: why
are the perpetrators of the biggest Ponzi of all time, i.e., the central
bankers, walking free? Or Jon Corzine for that matter?
Why
insider trading probes are awkward for SEC (Washington Post) [ If only it wasn’t true that
‘where there’s a will, there’s a way’! Clearly, a lack of will and conflicts,
bribes / quid pro quo, even destruction of evidence, have plagued the SEC. Yet,
their’s is only the province of civil remedies with at best criminal referrals
to the DOJ for prosecution; good luck with that (remember all those
prosecutions promised last election time by what is now the wobama / holder doj
of the still extant high level wall street frauds in the trillions…never
happened - { Obama
flush with financial sector cash The president has managed to raise more money this
year from the sector than any GOP contender. (WP) ( So much for obama and OWS;
but how ‘bout wobama and obs … yes, more ‘obama b*** s***
! The quid pro quo … the bribe … Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it
...Obama, who vowed change, has done almost nothing to fix any of it and
in fact continues most of the policies that helped get us here in the first
place’ ‘INSIDE JOB’ Ferguson wins
Oscar for Documentary on the unprosecuted massive extant fraud in the (many)
TRILLIONS by the frauds on wall street ( and declares with oscar in hand that
not one high level wall street exec has been prosecuted … despite ‘earning’
billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv , http://albertpeia.com/10mostcorruptpols.htm ) }
Insider-trading
probe targets House panel chair Rep. Bachus EXCLUSIVE | Chairman of the House Financial Services
Committee is being investigated. 'This is
a dog and pony show'
(Washington Post) [ Yeah! And he’s both the dog and the pony. As for the
paulson meeting and denial of ‘inside information’, one can only say for
certain, giving bachus the temporary but unlikely benefit of the doubt, that
paulson should be in jail for what they did for their buds at goldman et als.
And dern it, as a wine man by definition, how else is he going to afford the
finest vintages and bacchanalian rituals? Yet, one must agree that they’re
already pretty well overpaid http://albertpeia.com/govemployeeretirement.jpg . Well, I
guess there’s a little Geckoish (‘Wall Street’, Oliver Stone) wall street
‘greed is good’ in all capital hill / government connected reps.
Obama vs. Israel Priority
No. 1? Stop Israel (Washington Post) [
It’s always so disappointing to see one as intelligent as Mr. Krauthammer to be
so in lockstep with the beligerant war crimes nation israel (THE POSSESSOR OF
300+ ILLEGAL NUKES NO DOUBT TARGETING
IRAN AMONG OTHER NATIONS). On facts and intellect, Mr. Krauthammer’s position
is indefensible. Actually, wobama gets points for rationality here; and, as
indicated by Mr. Krauthammer’s colleague, Mr. Robinson, Mitt Romney’s position
is little different, being more rational than, ie., that senile old war
mongering dog mccain whose best days, if any, are long since done, among other
neo-cons, national bankrupters, nation destroyers, killers for no good reason,
etc. (They Love
Death http://albertpeia.com/theylovedeath.htm)... Respond to , ie., Pat Buchanan: Pat Buchanan: 300 nukes in Israel yet Iran a threat? RT | Islamic wars have brought
questionable benefit to the US over the last 20 years, former US presidential
advisor Pat Buchanan, author of Suicide of a Superpower, shared with RT. http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm Would You
Support a War Against Iran If You Knew the True Facts? Then there’s also, from
israel’s perspective, ‘the Oedipal Effect’. AIPAC beats the drums of war From
speaker after speaker, intimations that a clash is coming — and probably soon. (Washington Post) [ How totally pathetic for
pervasively corrupt, defacto bankrupt america. James Forrestal’s worst fears
realized. This wouldn’t have ever happened under the wise auspices of the great
but substantially underrated President General Eisenhower! How destructive and
self-destructive americans have become. In 1948,
U.S. Secretary of Defense James Forrestal, an opponent of the creation of a
Jewish state in Palestine, warned that, even though failure to go along with
the Zionists might cost President Truman the states of New York, Pennsylvania,
and California, it was about time that somebody should pay some consideration
to whether we might not lose the United States!… , Panetta:
Israel must negotiate with Palestine
Noose tightens around Iranian oil Tehran may
be profiting now with high prices, but E.U., U.S. measures pinch even before
they take effect. (Washington Post) [
Ah, riiiiight! They call this the defacto bankrupt eu/u.s. pro-zionist/israeli
gambit; also known more familiarly as, how to hang yourself (nation) in one
easy lesson. In years to come, this strategy will be compared to the circular
firing squad that places the target in the center and opens fire repeatedly
until all the ‘marksmen’ are dead. SHIPPING CEO: Iran Could Send Oil To $440/Barrel Business Insider | The scariest Iran
scenario yet comes from Bob Bandos, CEO of marine logistics and services
company GAC North America. ,
The Post’s
View Unresolved differences on Iran Editorial
Board U.S. and Israel both seek — but don’t find — reassurance. (Washington Post) [ Differences indeed!
Whether Palestine, Gaza, or any other issue involving war crimes nation,
illegal nuke totin’ israel, as long as the israelis are screwin’ someone, it’s
ok; hence, ie., no resolution (solution) even when there are u.n. resolutions
(242, 338, etc.). It is no small wonder therefore, that talk of final solution
in nazi germany brought literally, cheers throughout even the rest of the
world, even beyond the discernible nazi borders. At some point, people refuse
to bend over and there’s blowback! U.S. client ‘rogue’ state israel has in
excess of 300 illegal nukes, targeted no-doubt at Iran among other nations
(from stolen american nuke technology, no less, along with more recent
‘improvements’). Gerson: Containment won’t work with Iran (Washington Post) [ Indeed! Because, there’s nothing
to see here other than that typical, irrational, paranoid, pro-israeli,
zionist/neo-con, military industrial complex b***s*** ! israelis seem resigned to Iran strike (Washington Post) [ I think Pat Buchanan just said
it best: Pat Buchanan: 300 nukes in Israel yet Iran a threat? RT | Islamic wars have brought
questionable benefit to the US over the last 20 years, former US presidential
advisor Pat Buchanan, author of Suicide of a Superpower, shared with … http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm Would You
Support a War Against Iran If You Knew the True Facts? And, a u.s. General weighs in: Gen. Dempsey: Iran rational actor, not after nukes Press TV | General described any
Israeli attack on Iran as “destabilizing.”
Would You Support an Iran War If … : George
Washington : 02/22/2012
http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm
Would You Support a War Against Iran If You Knew the
True Facts?
Would you support a war against Iran if you knew
that:
Russia: Israeli attack on Iran will bring catastrophe REUTERS | After UN nuclear watchdog
declares collapse in talks with Tehran, Russian FM says military action would
have dangerous consequences.
Gen. Dempsey: Iran rational actor, not after nukes Press TV | General described any
Israeli attack on Iran as “destabilizing.”
Pat Buchanan: 300 nukes in Israel yet Iran a threat? RT | Islamic wars have brought
questionable benefit to the US over the last 20 years, former US presidential
advisor Pat Buchanan, author of Suicide of a Superpower, shared with RT. http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm Would You
Support a War Against Iran If You Knew the True Facts?
5 Reasons Iran is NOT a Threat to the U.S. Michael Edwards | Iran is next unless
the American people stop living in fear of manufactured threats.
Paul
Joseph Watson | Obama
administration firms up support for state-sponsored assassination.
Kurt Nimmo | Propaganda war edges toward Israeli attack on
Iran’s imaginary nukes.
Moriches Daily | The decision has already been made by the Israeli
government to attack Iran’s nuclear facilities.
Paul Joseph Watson | NATO powers arm Al-Qaeda in pursuit of regime
change.
Kurt Nimmo | Similar bombing raids under identical pretense
were used in Libya.
Paul Joseph Watson | NATO powers arm Al-Qaeda in pursuit of regime
change.
Netanyahu to Obama: Israel ‘reserves the right’ to
strike
Washington Free Beacon | Netanyahu pushed back against the administration’s
repeated attempts to dissuade Israel from attacking Iran.
Ron Paul To Israel “It Doesn’t Make Any Sense To
Attack A Country That’s No Threat To ANYONE!”
CNN | Ron Paul appears on CNN’s State Of The Union and
speaks about his foreign policy.
Obama’s Ineligibility Shocker, His Enemies Hit List
& More with Dr. Jerome Corsi
Prisonplanet.com
| Alex
welcomes author and leading birth certificate researcher Jerome Corsi to unveil
the latest information on the shadow war for leading up to the 2012 elections.
The Hill
| Most
likely voters don’t think the United States should get involved in Syria
despite the worsening crisis there, according to a new poll for The Hill.
Is China
already No. 1?
(Washington Post) [ That may be so and for sound reasons. But, america will
still be No.1 in the following areas if not in our hearts and minds. USA #1? 40 Embarrassing Things That America Is The
Best In The World At http://albertpeia.com/40badthingsusabest.htm
With that being said, the following are
40 embarrassing things that America is the best in the world at....
#1 America
has the highest incarceration rate and the
largest total
prison population in the entire world by a good margin.
#2 There are more car thefts in the United States than anywhere
else in the world by far.
#3 Of all the major industrialized nations, America is the most
obese. Mexico is #2.
#4 The average American drinks more than
600 sodas a year - the most in the world.
#5 U.S.
corporations sell more fast food and more soda than anyone else in the world by a wide
margin.
#6 Nobody watches more television per week (28 hours) than
Americans do. Although to be honest, people living in the UK are tied
with us.
#7 The United
States leads the world in credit
card fraud.
#8 The United
States has the highest percentage of one person
households on the entire planet.
#9 The United
States has the highest divorce
rate in the world by a good margin.
#10 The United
States has the highest teen
pregnancy rate in the world by far.
#11 There are more school
shootings in America than anywhere else in the world.
#12 The United
States has the highest child abuse
death rate in the world.
#13 There are more "deaths by
reptile" in America than anywhere else in the world.
#14 The United
States has the most lawyers per
capita in the entire world.
#15 The United
States produces more
pornography than any other nation in the world.
#16 Americans
take more prescription
drugs than anyone else in the world.
#17 More is
spent on prescription
drug advertising in America than anywhere else in the world.
#18 The percentage of women taking antidepressants in America is higher than in
any other country in the world.
#19 More people have been diagnosed with mental
disorders in America than anywhere else on earth.
#20 The United
States has the highest rate of illegal
drug use on the entire globe.
#21 There is more credit card
debt in America than anywhere else in the world.
#22 There is more mortgage
debt in America than anywhere else in the world.
#23 There is more student
loan debt in America than anywhere else in the world.
#24 The United
States spends more money on government
schools than any other nation on earth does.
#25 U.S.
citizens spend more time in school than anyone else in the world. So why
are so many of us dumb as a
rock?
#26 Nobody in the world gets more
plastic surgery done than Americans do.
#27 The United
States leads the world in eating disorder deaths.
#28 According to
nationmaster.com, the United States has the most total reported
crimes in the world by far.
#29 Nobody has more airport security thugs groping women and children than
America does.
#30 The United
States spends much more on health care as a
percentage of GDP than any other nation on the face of the earth.
#31 The United
States has the most complicated tax system on the
entire planet.
#32 The United
States has the most
laws on the entire planet.
#33 The United
States spends more on the military than the next 12 nations combined, and yet
the Obama administration is considering plans to unilaterally slash the size of
the U.S. nuclear arsenal by up to 80
percent.
#34 The United
States has the most foreign military bases in the world by far.
#35 The United
States exports
more arms to other countries than anyone else in the world.
#36 Americans
spend more time sitting in
traffic than anyone else in the world.
#37 Americans
spend more money on
elections than anyone else does in the world by a very wide
margin.
#38 Every single year, the United States has the largest trade deficit in the world by far.
#39 The U.S.
government wastes more
money than any other government on earth does.
#40 The United
States has accumulated the biggest mountain of
government debt in the history of the world.
So is the USA #1?
Unfortunately, the answer way too often
is yes.
The goal of this list of embarrassing
things is not to trash America.
Rather, the goal is to wake Americans
up and to get them to realize what has happened to us.
We should be deeply humbled and
embarrassed as a nation. We were once the best in the world and the envy
of the entire globe, but now the whole world is laughing at us.
America is supposed to be a beacon of
liberty, freedom and prosperity for the entire planet.
Instead, we are rapidly turning into a
horror show.
Wake up America. The condition of
our country is absolutely shameful, and every single day it gets even worse.
Please share this list with as many
people as you can. The American people need a massive wake up call, and
it is up to those of us that are awake to share the truth while we still can.’
They Love
Death http://albertpeia.com/theylovedeath.htm
The Post’s
View A tear for Putin’s Russia Editorial
Board He reclaims a country that is no longer so sure about him. (Washington Post) [ A tear? How about a cheer … for Putin’s
Russia. No longer sure about him? Indeed, if they listen to the western press
among other ‘anti-Russia’ propaganda outlets / disseminators. Suffice it to say,
much to the chagrin of america / israel / Russia’s enemies, whether knowingly
or not, or just plain oblivious to the threat, by electing Putin, Russia has
just dodged a major ‘bullet’ in a very big way! 3-15-12 There was mention of
Russia’s intent regard a manned moon mission to which I respond to such if
intended by the historically great nation of Russia: Bon voyage! Good luck!
Godspeed!
Putin wins election amid fraud complaints (Washington Post) [ Oh come on! Those complaints
were coming no matter what. Indeed, the u.s. led (much like that in the
Mid-East, one way or another; ie., Iraq, Libya, etc.) efforts to unseat ‘The
Great Vladimir Putin’ have failed (believe me, they are seething with envy and
resentment for Russia’s good fortune prospectively), which is a testament to
the intelligence and survival instincts of an historically great nation that
has stood the test of time. Yet, I truly believe there are those in Russia
herself who quite foolishly fail to see and appreciate this reality and the
formerly substantial but still extant threat from without. Moreover, I further
posite that almost without exception there’s substantial fraud / skullduggery in virtually every venue
at every level, municipal, state, federal of near every american election
(coincidentally, on the tv news ‘shock’ was reported that some local official
would receive $272,000 equivalent pension for life, exceeding even the
outrageously high salary of that worker – as in every crime, the motive, local,
state, federal). Who's congratulating Putin?
(FP)(Editors)[ I am! Congratulations President Putin!
Five myths about Vladimir Putin (Washington Post) [ Much like many of problems
globally, from strife to economic / financial fraud / instability, the myths
are of particularly american and western origin; and, a consequence of their
seething envy of and resentment toward this talented, great leader of an
historically great nation.
Gen. Dempsey: Iran rational actor, not after nukes Press TV | General described any
Israeli attack on Iran as “destabilizing.”
Pat Buchanan: 300 nukes in Israel yet Iran a threat? RT | Islamic wars have brought
questionable benefit to the US over the last 20 years, former US presidential
advisor Pat Buchanan, author of Suicide of a Superpower, shared with RT. http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm Would You
Support a War Against Iran If You Knew the True Facts?
5 Reasons Iran is NOT a Threat to the U.S. Michael Edwards | Iran is next unless
the American people stop living in fear of manufactured threats.
Extremist for the wealthy Romney’s
“gaffes” reveal his radical views. (Washington Post) [ Yes, indeed; and, the
trump endorsement didn’t help at all; that glitzy ‘gold (plated) this and gold
that’; the corruption that only money can buy; and, even more inside the story
involves mobsters that typify america today that includes those cash-rich
elements that having an inside track with federal judges (sister maryanne,
alito, etc.) who can set the illegal ‘legal scenario’ yields enough value for
quid pro quo, bribes, etc., which corruption is pervasive in america and plays
a huge part in the nation’s unmistakable decline. Yet, the reality is that that
defacto wobama, that is, wobama in fact has proven little different despite
past and present rhetoric.
( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows
to target financial fraud WP
Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute
Financial Crime Washington’s
Blog )
(America also leads in the illegal drug
trade. In fact, many researchers reveal that the war on drugs is only utilized
to control and monopolize the illicit drug trade. The US government
has been caught multiple times shipping in
cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA , http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related , http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related , http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related , http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related ] , colluding
with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html ] to control
the industry, and now openly protects and transports
opium from Afghanistan [ http://www.youtube.com/watch?v=ElEciFI0Pew ] . In fact, Global Research points out that in 2001, “according to UN figures, opium production had
fallen to 185 tons. Immediately following the October 2001 US led invasion,
production increased dramatically, regaining its historical levels.” This
month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [ http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world ] ; up 61% compared
to 2010 to a whopping 5800 tons. Although the empire tries to keep
it secret, they can’t hide the hypocrisy forever. [ website archived
links http://albertpeia.com/uscocainedistributionfiles.htm ) ‘When they’re losing, they can afford to be principled’
says corrupt mobster trump regarding the snubbing of his ‘less than moderation’
of an upcoming debate in Iowa by the remaining principled GOP contenders. In
reality, it’s actually ‘when you’re winning, you can afford to be principled’.
But, in trump’s corrupt, sordid, sinkhole habitat, the former is indeed his
truth. If you’re principled, you’re losing in trump’s rather surreal unreality.
After all, pervasively corrupt and unprincipled america is indeed losing; and,
big-time at that. That trump is a megalomaniac, a narcissist, and, yes … a
loser, there is no question. Indeed, anyone who ‘wins’ unfairly (corruption,
etc.) at others expense (ie., himself, the frauds on wall street, etc.) is a
loser. Unfortunately, such modus operandi, including that which is criminal,
has been accorded protection and respect in defacto bankrupt america, much like
the ‘protected’ (bribes, etc.) common drug dealer (america, see infra), pimp,
etc.. Then there’s the endearing (to a dumbed down american public) hype! That
cloyingly cutesy ‘the donald’ routine is nauseating; but, that’s the natural,
visible concomitant to a nation in ineluctable decline! On a positive note,
megalomaniac trump will not be able to retread the path of his role model /
idol Adolf Hitler as head of state. He’s really quite a joke when you think
about it; and a mentally ill one at that; ask Steve Wynn, he’ll tell you, he’s
already said it.
‘Pizza with palin’, ‘town hall of fame with
Bachmann’, trump purports to be at least ‘alcohol free’ (the alleged cause – I
don’t think so – of mobster trump’s elder brother’s suicide); but is he
‘med-free’? … there must be something to account for his madness (he’s a
psychopath who used to play Hitler speeches for inspiration).
Trump to
moderate GOP debate This
won’t end well. (Washington Post) [ Goes without saying… of all people to
choose … Why not Jerry Springer?… ‘Non-celebrity Apprentice’, the new reality
show, as in who scratches whose back for favors down the road, as in quid pro
quo, as in trump’s continued ‘graduation’ from commonly mob connected, to new
york/new jersey politically sordid sinkholes, to now failed washingtonian …
‘establishment’? Hasn’t trump’s rise coincided with the nation’s decline /
demise? I’ve seen the corruption first hand! http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows
to target financial fraud WP
Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute
Financial Crime Washington’s
Blog / the grim economic
reality
[ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1
|
11,877,218 |
|
|
# 2
|
6,523,706 |
|
|
# 3
|
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows
to target financial fraud WP
| Obama has promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv Does
regulation really kill jobs?
(Washington Post) [ Just those corruption-related ones; those organized crime,
as well as disorganized crime jobs for which there’s plenty of ‘quid pro quo’,
bribes, etc., to go around. Energy
Dept. failed to act as Solyndra sank (WP) [ This stuff is becoming all too typical. I
believe it’s time to start questioning what federal employees get paid for.
After all, pervasively corrupt america is defacto bankrupt ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The
government’s total indebtedness is $211 trillion’ ) .
Moreover, america’s pervasive corruption, even crimes, has become synonomous with the machinations
of any number of federal agencies / departments / all branches of
government (ie., DOJ – holder/fast and
furious/race bias UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black defendants and white victims ,
Fannie / Freddie Mac , SEC destroyed documents, senator says 17 Aug 2011 ‘The
Securities and Exchange Commission destroyed documents and compromised
enforcement case ... “It doesn’t make sense that an agency responsible for
investigations would want to get rid of potential evidence…’ Report:
SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a
‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe
thing’ in pervasively corrupt, defacto bankrupt, fallen america. Indeed, the scenario typifies that
national drain / sinkhole new york (new york / new jersey metro) where, for
example, FBI informants were routinely exposed by ‘italians’ in the new york
d.a.’s office over the objection of the FBI, and were murdered by mafia /
organized crime [ this was documented with authority in ‘Goombata: The
Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman ] SEC
faulted over records shredding The SEC
destroyed internal documents that should have been preserved as official
federal records, the agency’s inspector general has found. (Washington Post) [
Oh, if it was only that, and only the SEC; and if only they did an incisive
investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html Paul Joseph
Watson | Over two dozen Republicans call for Holder to resign. Though heavily
redacted, the documents directly discuss “Operation Fast and Furious” and how it involves
“trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly
my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
Santorum looks to beat back perceptions Former
senator from Pennsylvania does not plan to abandon Christian rhetoric or
shoestring campaign, but he is being forced to shift his strategy to counter
perceptions that he is obsessed with controversial social issues. ‘He has
painted himself into extreme right corner’ (Washington Post) [ What perceptions? That he’s
against higher taxes (who’s not given their wasteful bipartisan spending and
the undeniable defacto bankruptcy of the nation); yet, consistent with the
bipartisan mindset, hasn’t seen an unnecessary war he didn’t like? Reality
counts!
Santorum’s failed pander His false
and snobbish attack on the president.
(Washington Post) [ Failed? Not really, since it was always his destiny as with
his role model, ‘Big John’ to be the one holding up that broken column to
prevent collapse, and save the others … just kidding … Santorum
releases federal tax returns showing sharp rise in personal wealth GOP candidate stresses his coal-mining background,
but personal finances tell another story. (Washington Post) [ From beyond, it’s
Jimmy Dean, is that sweet rick he’s singin’ of? ‘Every morning at the mine you
could see him arrive, stood 5’11” and weighed 187, kind of narrow at the
shoulders and wider at the hips, somewhat resembling Seinfeld you couldn’t
mistake those lips of big rick, big rick, big ri__ck, you’re a d***, big bad
rick’ ….. Not really! The only tunnel he’s worked in is the one under capital
hill that leads to the treasured capital hill money for nothing. There’s only
so much drain without value added that a nation can stand. Then again, trump
really hurt romeney! Yet, whomever it’s to be is facing the most failed,
incompetent, and typically corrupt presidents in american history, such as it
has been miswritten. THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv , http://albertpeia.com/10mostcorruptpols.htm . To the Jimmy Dean sausage grinder for ‘big
bad rick’!
Obama
budget takes aim at Wall StreetThe president’s plan calls for a bank tax twice as
big as the one he proposed last year, a sign he wants to make anti-Wall Street
sentiment a signature of his campaign. (Washington Post) [ Takes aim at wall
street? If only he could shoot straight! Indeed, prosecutions (including fines
and disgorgement) of the multitude of wall street frauds in the trillions at
the highest levels as promised last time around would yield far more revenue
than that being bandied about, assuming arguendo, a real chance for passage of
such a tax.
Price
tag rises for Wall Street bailout Cost of bailout is rising, so Obama administration
plans to seek more money from proposed bank tax. Obama
budget takes aim at Wall Street Trading
probe: Tale from a bygone era
Insider-trading probe of House committee chairman evokes memories of
19th-century scandal. (Washington Post) [ Indeed it does! And, as a consequence
of the wall street favored fed ‘plan(s)’, incuding current QE’s sub rosa, the
costs of everything are rising faster despite the obfuscation and spin. There
are no free lunches and the piper must be paid, sooner as opposed to much more
costly later.
Why
insider trading probes are awkward for SEC (Washington Post) [ If only it wasn’t true that
‘where there’s a will, there’s a way’! Clearly, a lack of will and conflicts,
bribes / quid pro quo, even destruction of evidence, have plagued the SEC. Yet,
their’s is only the province of civil remedies with at best criminal referrals
to the DOJ for prosecution; good luck with that (remember all those
prosecutions promised last election time by what is now the wobama / holder doj
of the still extant high level wall street frauds in the trillions…never
happened - { Obama
flush with financial sector cash The president has managed to raise more money this
year from the sector than any GOP contender. (WP) ( So much for obama and OWS;
but how ‘bout wobama and obs … yes, more ‘obama b*** s***
! The quid pro quo … the bribe … Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it
...Obama, who vowed change, has done almost nothing to fix any of it and
in fact continues most of the policies that helped get us here in the first
place’ ‘INSIDE JOB’ Ferguson wins
Oscar for Documentary on the unprosecuted massive extant fraud in the (many)
TRILLIONS by the frauds on wall street ( and declares with oscar in hand that
not one high level wall street exec has been prosecuted … despite ‘earning’
billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv , http://albertpeia.com/10mostcorruptpols.htm ) }
Insider-trading
probe targets House panel chair Rep. Bachus EXCLUSIVE | Chairman of the House Financial Services
Committee is being investigated. 'This is
a dog and pony show'
(Washington Post) [ Yeah! And he’s both the dog and the pony. As for the
paulson meeting and denial of ‘inside information’, one can only say for
certain, giving bachus the temporary but unlikely benefit of the doubt, that
paulson should be in jail for what they did for their buds at goldman et als.
And dern it, as a wine man by definition, how else is he going to afford the
finest vintages and bacchanalian rituals? Yet, one must agree that they’re already
pretty well overpaid http://albertpeia.com/govemployeeretirement.jpg . Well, I
guess there’s a little Geckoish (‘Wall Street’, Oliver Stone) wall street
‘greed is good’ in all capital hill / government connected reps.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv Does
regulation really kill jobs?
(Washington Post) [ Just those corruption-related ones; those organized crime,
as well as disorganized crime jobs for which there’s plenty of ‘quid pro quo’,
bribes, etc., to go around. Energy
Dept. failed to act as Solyndra sank (WP) [ This stuff is becoming all too typical. I
believe it’s time to start questioning what federal employees get paid for.
After all, pervasively corrupt america is defacto bankrupt ( America’s debt woe is worse than Greece’s News (CNN) — ‘Our government is utterly broke…The
government’s total indebtedness is $211 trillion’ ) .
Moreover, america’s pervasive corruption, even crimes, has become synonomous with the machinations
of any number of federal agencies / departments / all branches of
government (ie., DOJ – holder/fast and
furious/race bias UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black defendants and white victims ,
Fannie / Freddie Mac , SEC destroyed documents, senator says 17 Aug 2011 ‘The
Securities and Exchange Commission destroyed documents and compromised
enforcement case ... “It doesn’t make sense that an agency responsible for
investigations would want to get rid of potential evidence…’ Report:
SEC lawyer exposed FBI informant (WP) [the sec liar (sic – lawyer) typically with a
‘pre or post’ arrangement, whether implicit or explicit; that ubiquitous ‘bribe
thing’ in pervasively corrupt, defacto bankrupt, fallen america. Indeed, the scenario typifies that
national drain / sinkhole new york (new york / new jersey metro) where, for
example, FBI informants were routinely exposed by ‘italians’ in the new york
d.a.’s office over the objection of the FBI, and were murdered by mafia /
organized crime [ this was documented with authority in ‘Goombata: The
Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman ] SEC
faulted over records shredding The SEC
destroyed internal documents that should have been preserved as official
federal records, the agency’s inspector general has found. (Washington Post) [
Oh, if it was only that, and only the SEC; and if only they did an incisive
investigation of the DOJ. Sheriff: Fast and Furious Bigger Scandal Than Watergate http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html Paul Joseph
Watson | Over two dozen Republicans call for Holder to resign. Though heavily
redacted, the documents directly discuss “Operation Fast and Furious” and how it involves
“trafficking firearms to Mexico”. Tuesday, November 1, 2011 . )That’s certainly
my experience which comports with reality, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Ignatius:
American history’s greatest flip-flop (Washington Post) [ That’s only if you can be
certain of what’s been flipped; and, sifting through the obfuscation and
propaganda, what’s really flopped in terms of so-called ‘american
history’.
The
Gospel according to Obama The
president’s contradictory theologies. (Washington Post) [ Oh come on, Mr.
Krauthammer! Who’s still counting? Wobama’s total jive-talking b***s***! I
mean, count the ways! There’s absolutely no end to his jive! Who’s still buyin’
/ believin’? Fools and other ‘tools’?
Meyerson:
Out-of-touch Republicans (Washington Post) [ Oh! Riiiiight! It’s just those dern republicans;
since, every 4 years the dems (and wobama) are all ears (that’s literally and
figuratively). Not that anything of substance actually comes of their being all
ears, but we should be grateful they’re listening despite that being precisely
what they’re supposed to be doing along with the action consistent therewith.
Republicans in fantasy land Wednesday’s debate presented a party adrift
from reality. (Washington Post) [ This
article refers to republicans only. Now who’s in fantasy land … Mr. Hiatt. The
embrace of fantasy economically, fiscally, financially, politically,
geo-politically is truly a bi-partisan undertaking. See chart: http://albertpeia.com/debtpercapita.jpg
. Here’s some bi-partisan u.s. debt reality: http://albertpeia.com/34shockingfactsaboutusdebt.htm
. National debt will likely swell under top GOP
hopefuls’ plans, report shows Analysis finds Ron Paul’s tax plan is the exception
and would slice about $2 trillion from future borrowing. (Washington Post) [ Nothing could match the swelling seen under wobama
the b for b***s***, particularly while in ‘election year mode’. At this point,
who’s counting? Swelling indeed! The nation’s now one big hematoma of
insurmountable debt! The
growing deficit? It’s not as bad as it looks. Modern Monetary Theory, which asserts that budget
shortfalls are actually good for the economy, is gaining popularity. If
accepted by policymakers, this unorthodox take on financial strategy could
affect everything from job creation to the price of goods to the tax code.
(Washington Post) [ Not as bad as it looks? Yeah! It’s worse! When I saw this
headline juxtapsed with Dylan, immediately apropo to the moment was ‘Blowin’
(in the) Wind’ by Bob Dylan. How totally preposterous; not that it is totally
unexpected that such spin, defense of the indefensible is inevitible inasmuch
as, prudent or not, like it or not, that’s the way it is in a very big way. So
big in fact, that it is literally insurmountable leading to Weimar
over-printing of fiat paper currency of unprecedented historical proportion
which has already required ‘cover stories’/obfuscation for the consequent
ratcheting of food / energy prices, etc., with other costs soon to catch up
with incomes statements as these higher prices will not be favorably received
nor successfully passed on.
Obama
looks to tame U.S. debt
Spending plan would pump nearly $500 billion into new construction projects
over the next decade. (Washington Post) [ Tame u.s. debt … Yes indeed, by more
record level spending … Sounds like a plan! Well, you know the drill; it’s an
election year and it takes money ( that’s not really there, and no, not to make
money ) to if not get elected, to enable an argument that, though
contraindicated, you should be elected. I think we’ve passed the ‘fool me
twice, shame on me’ threshold. Obama
Revises CBO Deficit Forecast, Predicts 110% Debt-To-GDP By End Of 2013, Worse
Deficit In 2012 Than 2011 Durden , Ben
Bernanke FTMFW Quote Of The Day Durden And the
winner is... BERNANKE: HOUSING MAY NO
LONGER BE VIEWED AS SECURE INVESTMENT … Here are some other pearls of ‘is dumb’
from helicopter ben b.s. shalom bernanke : http://albertpeia.com/30bunglebenbernankequotes.htm , How much
has Obama added to debt? OPINION
| The amount he’s actually responsible for adding to the deficit is difficult
to calculate. (Washington Post) [ Well,
when you’re dealing with debased, over-printed fiat currency and insurmountable
debt levels, the precise amount of debt added on his watch matters less than
the fact that he’s increased america’s debt by an amount in excess of the total
amounts of all the nations’ presidents since Eisenhower combined. (34 Shocking Facts About U.S. Debt That Should Set America
On Fire With Anger http://theeconomiccollapseblog.com
http://albertpeia.com/34shockingfactsaboutusdebt.htm
‘We have all been lied to. For decades, the leaders of both major
political parties have promised us that they can fix our current system and
that they can get our national debt under control. As the 2012 election
approaches, they are making all kinds of wild promises once again. Well
you know what? It is all a giant sham. The United States has gotten
into so much debt that there will be no coming back from this. The current
system is irretrievably broken… Professor Laurence J. Kotlikoff, the U.S. is
facing a "fiscal gap" of over 200 trillion dollars in the
future. The following is a brief excerpt from a recent article that he
did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at
$211 trillion.. The fiscal gap is the difference, measured in present value,
between all projected future spending obligations -- including our huge defense
expenditures and massive entitlement programs, as well as making interest and
principal payments on the official debt -- and all projected future taxes…#33 If
you add up all forms of debt in the United States (government, business and
consumer), it comes to more than 56 trillion dollars. That is more than $683,000 per family…).
Milbank: Burning bridges in Washington (Washington Post) [ Burning bridges? What, London
bridge is falling down? (Actually, in a manner of speaking it is: George Osborne: UK has run out of money London Telegraph | The Government ‘has
run out of money’ and cannot afford debt-fuelled tax cuts or extra spending,
George Osborne has admitted.) Oh, sure; this, from wobama aficionado Mr.
Milbank. And, despite spending more than all the presidents since Eisenhower
combined, wobama cannot obfuscate, manipulate, mask his complete and utter
failure and for once in his life must be held accountable for even his own
words (b***s***): ‘… “The
president said three years ago that if he couldn’t turn this around in three
years, then this would be a one-term proposition. Well, Republican governors
are deciding it’s time to collect. It’s time for a new president.” A third
governor, Nikki Haley of South Carolina, piled on. “It was frustrating to see
that he once again was finger-pointing at everyone else, and we don’t have that
luxury,” she said, instructing the president: “Enough of the talk.” You’d
literally have to go back to Jimmy Carter’s years in the White House, back in
the 1970s, to match the liberal ideology, to match the incompetence.” Virginia
Gov. Bob McDonnell proposed a remedy …’
. After all, if he had but done what he said he would do upon which he
campaigned and was elected, though still dire, the nation’s predicament would
have been substantially improved. Moreover, if he had done as promised,
whatever the outcome, he could not have been faulted as he so fittingly does
deserve to be so now.
Gallup: Obama's favorability lowest of any nominee
since Bob Dole
(Washington Post) [ There’s absolutely no surprise here! The only real surprise
is that his favorability isn’t substantially lower. After all, the cost of
maintaining even this near record low favorability is unprecedented record high
spending exacerbating pervasively corrupt, defacto bankrupt’s america’s already
insurmountable debt level disaster. Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job... , Obama's Legacy: A Failed Recovery
& Double-Dip Recession Forbes / Mariotti ‘…There will be no significant
recovery in the United States of America while Barack Obama is President.
The evidence is overwhelming: everything Obama has tried to fuel a
recovery (with his Democratic allies in Congress) has failed. Statistics
claiming jobs saved by the stimulus package were mostly fiction, and cost
American taxpayers about $275,000 each. Nearly 2-1/2 million fewer
Americans have jobs than before the stimulus… Obamacare, a program that doesn’t
create jobs, but might destroy a lot of them. He “bailed out” GM, but
many believe that his interference didn’t save GM; it merely cost taxpayers an
extra $15-20 billion, and stole from legitimate investors to buy off the UAW.
His broken campaign promises are too numerous to list. At some
point, his statute of limitations on blaming Bush runs out…’
A Warning Sign For The World http://albertpeia.com/warningsignfortheworld.htm
Any financial system that is based on debt is doomed to fail. Today, we
are living in the greatest debt bubble that the world has ever seen, and if all
of a sudden people could not use credit to buy things our economy would
immediately ground to a halt. Unfortunately, no debt bubble can last forever.
When this current debt bubble finally bursts, faith in the financial system is
going to disappear, credit is going to freeze up and there is going to be a
massive wave of bank failures.
In
Obama’s export push, clash of U.S. interests That collision has been evident in the U.S. airline
industry, where policies that aided Boeing forced another American company, Delta,
to lose business. Experts say the approach by Obama, who is visiting a Boeing
plant today, forces him to pick winners and losers. ‘Service
sector cannot and should not lead our economy’ (Washington Post) [ Ramping up the rhetoric; or
rather, the b***s***, which is what wobama does best though his actions and
inactions since last campaign mode belie his words. First, there isn’t enough
real capital in the world to sustain america’s debt burden, and, the
over-printed fiat paper weimar dollar currency will be ‘paid for’ by ‘all’.
Second, even assuming, arguendo, the absence of the foregoing insurmountable
burden / obstacle, there simply is not enough capital in the world to
retransition what’s been decades in the making overseas with modern plants and
equipment there, now here, much less being profitable to do so. Too little, too
late for wobama the b for b***s*** whose actions have consistently belied his
words, and who has literally further insurmountably bankrupted the nation with
excessively costly and uneconomic window-dressed numbers. For example,
taxpayers should get a share of the GM profits since they’re paying for them,
ie., { to pad stats - Drudgereport: Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job... } and those unaffordably costly cars { to pad
sales - Drudgereport (on Government Motors): REPORT: Chevy Volt Costing
Taxpayers Up to $250K Per Vehicle... CAVUTO: Volt sales inflated
with taxpayer fleet buys... } Is the
unemployment rate misleading?
WONKBLOG | Some point out that it doesn’t count those who’ve given up looking
for work. (Washington Post) [ Duh! Ya think? I don’t even buy their raw
numbers; and, even if, arguendo, their raw numbers real, they are election year
expedient at best for ‘reporting purposes’ and uneconomic, overcostly, and
very, very temporary http://albertpeia.com/governmentfraudulentemploymentstats.htm
. White
House was warned about Solyndra layoffs E-mails show Energy Dept. asked firm in October 2010
to delay news of layoffs until after midterm vote. (Washington Post) [ Those
unaffordably costly jobs and those unaffordably costly military industrial
complex welfare programs . The
‘so-called improvement’? At what cost for election appearances only? ***? Milbank:
Obama’s budget games He
avoided anything resembling a serious proposal. (Washington Post) [ I’m totally
astounded! I really am! I even checked / refreshed to see if this was a print /
display error! Praise the Lord! It’s true! Criticism of his much-loved wobama!
Even pinched myself to see if I was dreaming.
Who woulda think it? Tough love? I’d say we’ll happily take any
criticism of wobama by Mr. Milbank as welcomed and nothing short of a
monumental breakthrough, whatever the reason. But indeed Mr. Milbank’s quite
right and the context is surely typical wobama election-year b***s***!
Tax
policy for manufacturing jobs — carrots or sticks? When it comes to U.S. manufacturing jobs, more
Americans support the punishment than the enticement. (Washington Post) [ Oh
yeah! That all sounds great, election year and all. But, not even on paper. You
can’t unring the bell. Moreover, even if you could ‘unring the bell’, like
retooling, there’s time and expense. Structurally, even if america wasn’t
defacto bankrupt, who’d bear the costs of such incentives which would have to
be so huge so as to be prohibitive (the wage cost disparity). In other words,
any such policy would require as we’ve already seen government subsidies that
are literally unsustainable and otherwise uneconomic in terms of generating
profits / surplus. Then there’s the fed’s pro wall street, crowding out effect
- 10 Things That Every American Should Know About The Federal
Reserve Eco.Coll.Blog http://albertpeia.com/10thingsmustknowaboutfedreserve.htm
#1 The Federal Reserve System Is A
Privately Owned Banking Cartel #2 The Federal Reserve System Is A Perpetual
Debt Machine #3 The Federal Reserve Has Destroyed More Than 96% Of The Value Of
The U.S. Dollar #4 The Federal Reserve Can Bail Out Whoever It Wants To With No
Accountability #5 The Federal Reserve Is Paying Banks Not To Lend Money #6 The
Federal Reserve Creates Artificial Economic Bubbles That Are Extremely Damaging
#7 The Federal Reserve System Is Dominated By The Big Wall Street Banks #8 It
Is Not An Accident That We Saw The Personal Income Tax And The Federal Reserve
System Both Come Into Existence In 1913 #9 The Current Federal Reserve
Chairman, Ben Bernanke, Has A Nightmarish Track Record Of Incompetence #10 The
Federal Reserve Has Become Way Too Powerful
Karen Santorum: Presidential run is 'God's will' (Washington Post) [ The place they call Heaven to
Karen Santorum: News Flash – God has more important things and worlds to attend
to … Further News Flash – Though not popular fare among rationalizers … Look
around you, worldwide. Clearly, the world where the Christ was brutally
crucified (it would happen again and again here) is certainly not God’s
favorite, euphemistically speaking … Final News Flash – No, the Christ was not
sent here by God to be brutally murdered / sacrificed like some animal in some
pagan ritual for the sake of some primitive species evolved from initially
notochords, primitive chordates, and relatively more recently primitive apes.
Summary Conclusion: Decades at best, people don’t flatter yourselves; in
earthly vernacular, God doesn’t give a flyingf*** about this, or any other
election. Deceivers all (look at all the pervasive frauds, deceptions embraced
by so many), do not deceive yourselves. http://albertpeia.com/anthroindex1.htm
Gerson: Containment won’t work with Iran (Washington Post) [ Indeed! Because, there’s nothing
to see here other than that typical, irrational, paranoid, pro-israeli,
zionist/neo-con, military industrial complex b***s*** ! israelis seem resigned to Iran strike (Washington Post) [ I think Pat Buchanan just said
it best: Pat Buchanan: 300 nukes in Israel yet Iran a threat? RT | Islamic wars have brought
questionable benefit to the US over the last 20 years, former US presidential
advisor Pat Buchanan, author of Suicide of a Superpower, shared with … http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm Would You
Support a War Against Iran If You Knew the True Facts? And, a u.s. General weighs in: Gen. Dempsey: Iran rational actor, not after nukes Press TV | General described any
Israeli attack on Iran as “destabilizing.”
Would You Support an Iran War If … : George
Washington : 02/22/2012
http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm
Would You Support a War Against Iran If You Knew the
True Facts?
Would you support a war against Iran if you knew
that:
Russia: Israeli attack on Iran will bring catastrophe REUTERS | After UN nuclear watchdog
declares collapse in talks with Tehran, Russian FM says military action would
have dangerous consequences.
US Embassy In Afghanistan In Lockdown After Being
Targeted By Angry Protesters CNN |
Hundreds have forced the US embassy in Kabul into lockdown.
Super-PAC donors act as GOP kingmakers A rarefied group of millionaires and
billionaires is acting as kingmakers in the Republican presidential contest,
often helping to decide, with a simple transfer of money, which candidate might
survive another day in race. (Washington
Post) [ Let’s not limit this ‘oligarchy in action’ scenario to the republicans.
After all, it took some scrutiny from across the sea to ferret out early on a
similar scenario regarding ‘the man of the people’, ‘the man of change’ (NOT on
both counts) wobama the b for b***s***; viz., David Icke, Barack
Obama: The Naked Emperor Shocking but true revelations from David Icke| infra ‘...Obama is just more of the same, a
big smile with strings attached, and controlled completely by those that chose
him, trained him, sold him and provided his record funding, kept his many
skeletons under wraps, like the gay sex and crack cocaine .. Larry Sinclair
(from affidavit: 1. Who is Ron Allen that claims to be with your Presidential
camp, who is alleged to claim that someone claiming to represent me called
asking for $100,000, to keep me from coming forward about our (Obama and I)
November 1999 encounter of sex and cocaine use?), ... Obama is just another
Banksters' moll prostituting himself .., and that's why he supported the
grotesque bail-out of the banking system and why he will always put their
interests before the people. His financial advisors
are straight from the Wall Street 'A' list, including Paul Adolph Volker
(Trilateral Commission, Council on Foreign Relations, Bilderberg Group), the
head of the Federal Reserve from 1979 to 1987 and Illuminati to his fingertips.
Obama has made him head of the Economic Recovery Advisory Board, which is
dominated by insiders, including its staff director and chief economist, Austan
Goolsbee, a close Obama associate from the University of Chicago. Goolsbee is
an initiate of the infamous Illuminati Skull and Bones Society at Yale
University, which also includes Boy and Father Bush. It was Goolsbee who told
the Canadian government not to worry about Obama's attacks on the economic
effects of free trade agreements because his words were just to win votes in
the election campaign. Another Wall Street insider, the Zionist Timothy
Geithner (Bilderberg Group, Trilateral Commission, Council on Foreign
Relations), was appointed by Obama to be his Treasury Secretary. Geithner was
the President of the New York Federal Reserve Bank, the most powerful in the
private Federal Reserve cartel that masquerades as America's central bank, and
he is a former employee of both the Council on Foreign Relations and the
appalling Kissinger Associates. Obama's Treasury team locks into the inner
circle around the Zionist Robert Rubin, the Director and Senior Counselor of
Citigroup, co-chairman of the Council on Foreign Relations, and economic
advisor to Obama. Rubin, a member of the Illuminati Bilderberg Group, was the
man behind Citigroup's strategy of expanding its risk in debt markets which
forced it to be rescued by taxpayers' money. The very people who caused the
financial crisis are being appointed by Obama to decide how to respond to it
(more taxpayers' money for them and their friends)’
http://albertpeia.com/obamadeceptionhighqualityversion.flv
Putin
unleashes wave of anti-American sentiment ahead of March elections Can U.S.-Russian relations withstand damage from
attacks that have gotten more aggressive? (Washington Post) [ One can hardly
expect a great leader of a great nation as Russia (yes, it is President Putin)
to roll over and bend over for a pervasively corrupt, defacto bankrupt,
meaningfully lawless nation as america surely is. The question always boils
down to the ultimate cost of better relations with the u.s.. For indigenous
populations and foreign nations that have tested the waters of ‘better
relations with america’, the outcomes have been fatal (Iraq, Libya, etc., to
name a recent few). I personally am constrained to sound and be accused of
being ‘anti-american’ (not really, but by their spin certainly) by standing for
my rights in property and constitutionally and resisting the costly corruption
by the lawless oligarchs presiding over america’s declining / falling destiny
today. The vast majority of americans this day are being irrevocably screwed by
the u.s. government which is for the sake of current obfuscation bankrupting
all in futurity. The corruption is real in america, at the highest levels of
all branches of the u.s. government, and I’ve seen this first hand. Then
there’s the illegal wars based on lies, war for the sake of heroin production
(Afghanistan), and the list goes on (Panama, etc.). http://albertpeia.com/fbimartinezcongallard.htm
Drug war
hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt
banksters PF
Louis | The hypocrisy of the war on drugs is centers on the
amount of drug trafficking that benefits the CIA and international banking
system. Natural
News
February 1, 2012 [ http://albertpeia/americangovernmentdrugtrafficking.htm http://albertpeia/americascorruptiondrugtrade.htm http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ] ‘The
hypocrisy of the war on drugs is outrageous when compared to the amount of drug
trafficking that benefits the CIA and international banking system. The son of
a convicted notorious mobster, John Gotti Jr, when asked in court if the family
still dealt drugs cracked, “No, we can’t compete with the government.”
Vladimir
Putin: My vision for a better Russia (Washington Post) [ I certainly agree that Putin is
a man of vision and a great leader of an historically great nation with a long,
rich history. Moreover, as he astutely points out, candidates’ worthless
promises have the hollow ring we see epitomized by the jive-talker wobama. As
Russia made the transition passing through that oligarchical stage as
mentioned, america has devolved into an oligarchy for which there are no
meaningfully enforced laws / rules and for which this parasitic, symbiotically
venal interaction between elements of all branches of the u.s. government and
the oligarchs (ie., wall street, etc.) has been destructive domestically (ie.,
the national drain of corruption on k street, huge frauds, etc.) and globally
(the military industrial complex, wars, etc.). The story of america’s rather
brief history, beyond the propaganda, is, in a nutshell, one of ‘taking without
asking’, without regard to meaningful law, common decency, or morality. The
taking includes lives, property, and most recently, liberty (as manifested in
various nefarious, self-created problems for which they provide ‘the solution’;
ie., encroachments on speech, etc.).
Ter·ror·ist
(Noun): Anyone Who Disagrees with the Government : George Washington : 02/08/2012 - 01:03 Any American Who Criticizes the
Government May Be Labeled a Terrorist
SYRIA:
CIA-MI6 Intel Ops and Sabotage Felicity Arbuthnot | American and
British intel agencies are in Syria executing a plan of destabilization
Pakistan
Warns West Over Drone Killings of Innocent Civilians The Sun
| Pakistan warned Britain to help stop the American “Drone Wars” that are
slaughtering hundreds of its innocent civilians.
Iran: A Manufactured Threat Stephen
Lendman | US media engineers recycle old messages – to pull the
American mind-set towards a new war
Five
myths about the presidency
(Washington Post) [ Five? Is that all? I can with ease rattle off fifty-five
myths relative to those of the last several decades. And, none of them
flattering I might add. As for longevity, given their attentive, quality
medical care and post office (no pun intended) stress free living, the lengthy
aberation is not at all surprising to me. Well here’s a big one not on the list:
http://albertpeia.com/obamadeceptionhighqualityversion.flv
Why Iran
wants the bomb
(Washington Post) [ Assuming, arguendo, that they do (want the bomb – they deny
it –but israel also denied or pretends by silence what everyone knows ain’t so,
or none of anyone’s business), they could always say the why is ‘better
relations with america’ as has worked for contraindicated american favorite
israel (they could also point out that at least they didn’t steal the nuke tech
from the u.s. as did israel). The reference to alleged culpability regarding
the ‘attempted’ revenge (and the notion of revenge is important and acknoledges
what all know is israel culpability regard the assassination of the subject
Iranians) killings of israeli dips which have been described by some as false
flag attempts to rally support for
invading Iran. I think that say what may, if bellicose, militant israel’s got
it, so too should Iran.
Kurt
Nimmo | Determined to fan the flames of hysteria and set
the stage for a devastating attack on Iran.
Prisonplanet.com
| The supposed terror plot to bomb Washington DC was yet another FBI set up.
The
Hegelian Dialectic: Infowars Nightly News
Prisonplanet.com
| Derrin McBreen discusses the Hegelian Dialectic, otherwise known as “Problem-Reaction-Solution”
London
Guardian | Officials in key parts of the Obama administration are increasingly
convinced that sanctions will not deter Tehran.
Milbank:
With Hispanics, a GOP death wish (Washington Post) [ Wow! GOP death wish? A bit
melodramatic on the part of Mr. Milbank. Coupled with yesterday’s long overdue
criticism of wobama, one has to wonder whether it’s the dc drinking water
that’s the culprit. Then again, could this be a rhetorical way of criticizing
the GOP in favor of the Dems or a legitimate heads up so as to preclude the GOP
from shooting themselves in the foot. I know not nor care not; the context is
the key. Indeed, federal judiciary? Like most things american, the federal
courts are rife with corruption. Since when should politics trump (includes
corrupt judge maryanne trump barry, and shiff, matz, etc. ) judicial integrity
and experience? Answer: since america beyond the propaganda is what inherently
criminal, pervasively corrupt defacto is what america truly is and has been.
Examples of federal judicial corruption already include the likes of sam alito
among others, who though incompetent and corrupt and unequivocally deserving of
jail time, sits now on the u.s. supreme court (
http://albertpeia.com/fbimartinezcongallard.htm
, and infra).
The Post’s View Drawdown
in Afghanistan Why
should troops die this year if U.S. is leaving next year? (Washington Post) [
Indeed! But the larger question is why should they have died in Afghanistan at
all? Well, the answer’s simple, even beyond the military industrial complex /
war profiteer thing. It’s not a question of the heroes in; but rather, it’s all
about the heroin. Yes, heroin! That icky, sticky highly addictive and
devestating drug that the most sordid of organized crime ilk here and abroad
find so appealing and lucrative. And, it’s ‘high time’ for this very newspaper
(among all others and media) to step up and say what everyone with a computer
and internet connection with a desire to know already knows; viz., the u.s.
government is in the illegal drug business (including heroin, cocaine, etc.) in
a very big way. Back when I brought a RICO action involving drug money
laundering (see infra) I never in my wildest dreams could have thought that
reality to be so, yet indeed it is so.
Drug war
hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt banksters PF Louis | The hypocrisy of the war
on drugs is centers on the amount of drug trafficking that benefits the CIA and
international banking system. Natural
News February
1, 2012 [ http://albertpeia/americangovernmentdrugtrafficking.htm http://albertpeia/americascorruptiondrugtrade.htm http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ] ‘The
hypocrisy of the war on drugs is outrageous when compared to the amount of drug
trafficking that benefits the CIA and international banking system. The son of
a convicted notorious mobster, John Gotti Jr, when asked in court if the family
still dealt drugs cracked, “No, we can’t compete with the government.”
Today in
Afghanistan, American troops have been seen guarding poppy fields used to make
heroin. Those fields were all but wiped out by 2001 when the Taliban destroyed
them and forbade that agricultural pursuit. Now they’re flourishing again after
the American occupation.
This
doesn’t make sense despite all the mainstream reports that American troops are
protecting the poppy farmers from the bad guys. Internet sites such as Prison
Planet, Info Wars, The Political Coffeehouse and others report otherwise. They
connect the CIA and US military to restarting the poppy fields in Afghanistan
in 2002, increasing poppy growth by over 650 percent. Who’s telling it like it
is?
The
CIA’s secret operations to influence journalism started in the 1950s by
infiltrating the media and bribing journalists to be operatives and assets for
the CIA. By 1976, then CIA director William Colby reportedly bragged that the
CIA owned the press. Supposedly, this too secret to name operation was coined
“Operation Mockingbird” by Deborah Davis in her book Katherine the Great.
Operation
Mockingbird worked well against prize winning journalist Gary Webb when his
newspaper, the San Jose Mercury News, ran his in depth series on CIA
drug trafficking that flooded the USA to help finance the CIA backed Nicaraguan
Contras during the 1980s.
Journalists
all over the USA jumped on the series, claiming Webb’s journalism was shoddy.
The newspaper had to recant and fire him, and Gary Webb was black listed from
mainstream journalism completely.
Webb
retaliated by having his book Dark Alliance published and making the NY
Times best seller list, forcing some of his critics to privately eat crow
after the fact.
Despite
the CIA’s control of the press, a few Mexico and Central America cocaine busts
of plane cargoes and discoveries of large cocaine stashes on crashed planes
with CIA hired pilots flying them for front companies did hit the mainstream
news, albeit briefly.
Remember
the movie “Air America?” It was based on an actual CIA owned front company
transporting tons of heroin from Southeast Asia’s “Golden Triangle” poppy
fields during and after the Vietnam conflicts. Now Afghanistan and the “Golden
Crescent” are the featured opium/heroin conduit sources.
When the
U.S. government made deals with the Cosa Nostra mafia to help police ports and
harbors during WW II, they breathed life into the heroin trade. Eventually,
Marseilles, France was set up by the Corsican mafia to become the “French
Connection” for heroin traffic.
But
opium trade history goes back further, to colonial times and early America.
That’s when American shipping magnates used their fast Clipper Ships to compete
with England’s monarch sanctioned dope running East India Company for
transporting opium to China.
A few
key players created family fortunes from the China opium trade that exist today
within some northeast America’s “old money” families.
Among
the familiar family names, according to Wikipedia (source below) is
Forbes. Another source mentions Astor, a prominently wealthy philanthropic
family around New York today (Wiki source below). In those days, trafficking
dope was a legitimate business endeavor, immoral but not illegal.
Now it
is illegal as well. Ironically, this allows the biggest illicit drug providers
to financially benefit the CIA and international banking.’
Sources
for this article include:
http://whatreallyhappened.com/RANCHO/POLITICS/MOCK/mockingbird.php
http://en.wikipedia.org/wiki/Forbes_family
http://en.wikipedia.org/wiki/John_Jacob_Astor
http://thepoliticalcoffeehouse.com/2011/12/01/us-military-opium-afghanistan/
http://www.minormusings.com/Drugs/Mask.html
See also:
Big Banks, Gov’ts Collude in
Drug War Hypocrisy
Much Of
Afghan Drug Money Going To ‘Our Friends’
Steady
Stream of Drug Money Departs Afghanistan, U.S. Officials Flummoxed
Afghan
CIA Drug Kingpin Shot Dead by Own Bodyguard
Afghanistan drug trade hits
$4 billion a year
Occupiers
involved in drug trade: Afghan minister
US and NATO protecting
Afghan drug trade
B.C.
RCMP seize 60,000 poppy plants in record haul
NATO rejects
Russian call for Afghan poppy spraying
War on
drugs is a hoax: US admits to guarding, assisting lucrative Afghan opium trade
UN: Afghan
opium production up by 61% under NATO’s watch
DOJ:
Drug Cartel’s Influence Extends Well Beyond Border Well Into the U.S.
2012 Update: What Part III of the financial crisis
will look like
http://www.stansberryresearch.com/pro/1108PSINEWVD/PPSIN138/PR
http://www.stansberryresearch.com
http://www.stansberryresearch.com/pro/1108PSINEWVD/PPSIN111/PR
http://www.albertpeia.com/stansberrysinvestmentadvisory.flv
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm
CIA
expected to stay in Iraq, Afghanistan for the long haul Long after departure of U.S. troops, CIA is expected
to maintain a large clandestine presence, officials said (Washington Post) [ No
surprise there! Long hauls indeed, of heroin that is; Iraq’s just cover for
their Afghanistan drug ops (given their current heroin trade it might look
suspicious in justifying Afghanistan and not the illegal war site of looted
Iraq). ! Drug war
hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt
banksters PF
Louis | The hypocrisy of the war on drugs is centers on the amount
of drug trafficking that benefits the CIA and international banking system. Natural
News
February 1, 2012 [ http://albertpeia/americangovernmentdrugtrafficking.htm http://albertpeia/americascorruptiondrugtrade.htm http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ] ‘The
hypocrisy of the war on drugs is outrageous when compared to the amount of drug
trafficking that benefits the CIA and international banking system. The son of
a convicted notorious mobster, John Gotti Jr, when asked in court if the family
still dealt drugs cracked, “No, we can’t compete with the government.”
Legislators
aid groups tied to family
EXCLUSIVE | Some members of Congress guide millions in tax dollars to companies
and institutions where their relatives work, according to an examination of
federal disclosure forms and local public records (Washington Post) [ Yeah! I guess the
congressional / federal over-payment pay scale’s just ain’t enough. Here’s just
wages http://albertpeia.com/govemployeeretirement.jpg , then benefits,
then k street money for nothing if so chosen, then the speech circuit money for
nothing, schmoozing, boozing, etc.. No wonder the nation’s pervasively corrupt
and defacto bankrupt. After all, across the board, what federal employment is
worth the money; particularly when you look at the corrupt and the results of
same. Everybody knows it! Globally as well as domestically! http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm
The avarice, venality, and complicitly corrupt nature of all federal
employees knows no bounds whatsoever http://albertpeia.com/fbimartinezcongallard.htm ; yet, even a modicum of competence has not been forthcoming
from their lot. (34 Shocking Facts About U.S. Debt That Should Set America
On Fire With Anger http://theeconomiccollapseblog.com
http://albertpeia/34shockingfactsaboutusdebt.htm
‘We have all been lied to. For decades, the leaders of both major
political parties have promised us that they can fix our current system and
that they can get our national debt under control. As the 2012 election
approaches, they are making all kinds of wild promises once again. Well
you know what? It is all a giant sham. The United States has gotten
into so much debt that there will be no coming back from this. The current
system is irretrievably broken… Professor Laurence J. Kotlikoff, the U.S. is
facing a "fiscal gap" of over 200 trillion dollars in the
future. The following is a brief excerpt from a recent article that he
did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at
$211 trillion.. The fiscal gap is the difference, measured in present value,
between all projected future spending obligations -- including our huge defense
expenditures and massive entitlement programs, as well as making interest and
principal payments on the official debt -- and all projected future taxes…#33 If
you add up all forms of debt in the United States (government, business and
consumer), it comes to more than 56 trillion dollars. That is more than $683,000 per family…). america’s totally broke! Really! No joke! Drug war
hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt
banksters PF
Louis | The hypocrisy of the war on drugs is centers on the
amount of drug trafficking that benefits the CIA and international banking
system. Natural
News
February 1, 2012 [ http://albertpeia/americangovernmentdrugtrafficking.htm http://albertpeia/americascorruptiondrugtrade.htm http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ] ‘The
hypocrisy of the war on drugs is outrageous when compared to the amount of drug
trafficking that benefits the CIA and international banking system. The son of
a convicted notorious mobster, John Gotti Jr, when asked in court if the family
still dealt drugs cracked, “No, we can’t compete with the government.”
Congressional
earmarks sometimes used to fund projects near lawmakers' properties EXCLUSIVE | Thirty-three members of Congress have
steered more than $300 million in earmarks and other spending provisions to
dozens of public projects that are next to or within about two miles of the
lawmakers’ own property, according to a Washington Post investigation. Earmarks
alive and well, probe finds A study
of defense bill identifies 115 proposals as earmarks, including 20 by GOP
freshmen who campaigned against the pet projects.
(Washington
Post) [ Such things do wonders for property values; even the most ill-chosen
properties. Lesson: ‘If you don’t know a damn thing about much of anything,
ie., finance, real estate, business, etc., run for and be part of congress to
make being stupid not matter’. I think a more telling example of self-dealing
are those steady raises and increased benefits packages that congress continued
to vote for themselves despite what we all now know to be jobs so poorly done
that the nation is now hopelessly and insumountably broke in every way that
could possibky be imagined. House
panel weighs insider-trading bill House committee members debated whether they should
pass an insider-trading measure targeted at themselves. (Washington Post) [ Yeah … that’s a tough
call … Bachmann
received federally backed loanWeeks
before Michele Bachmann called for dismantling federally subsidized loan
programs, she and her husband signed for a $417,000 mortgage. (Washington Post)
[ In my MBA thesis (MBA Finance, 1977, NYU GBA), among my conclusions was that
‘timing was everything in stock market investing’. Yes, indeed, you must time
the market to be successful, though such position was squarely opposed to a
panoply of ‘mechanized mindless approaches’ (ultimately that latter being a
rationale to separate you from your money, regardless. In fact, today more than
ever, buy and hold’s a sure loser even without the crashes when measured
against a ‘real price deflator’ that takes into account the real rate of
inflation. Well, in her defense she could always argue that the legislated ban
on congressional insider trading hadn’t been passed yet … just kidding!
Actually, we all know that just applied to stocks anywho. And, until the
congress says those things that are illegal for everyone else are illegal for
congress, such illegal activity is not really illegal; for them only, that is.
No one’s above the law? Not so in pervasively corrupt, defacto bankrupt america
where a clearly illegal act is not illegal for them unless they themselves say
it’s to be prospectively considered illegal for them. Ethics? Silly boys and
girls, as in , ‘don’t be silly!’. Congressional
earmarks sometimes used to fund projects near lawmakers' properties EXCLUSIVE | Thirty-three members of Congress have
steered more than $300 million in earmarks and other spending provisions to
dozens of public projects that are next to or within about two miles of the lawmakers’
own property, according to a Washington Post investigation. Earmarks
alive and well, probe finds A study
of defense bill identifies 115 proposals as earmarks, including 20 by GOP
freshmen who campaigned against the pet projects.
(Washington
Post) [ Such things do wonders for property values; even the most ill-chosen
properties. Lesson: ‘If you don’t know a damn thing about much of anything,
ie., finance, real estate, business, etc., run for and be part of congress to
make being stupid not matter’. I think a more telling example of self-dealing
are those steady raises and increased benefits packages that congress continued
to vote for themselves despite what we all now know to be jobs so poorly done
that the nation is now hopelessly and insumountably broke in every way that
could possibly be imagined.
http://albertpeia.com/3real2.png
http://albertpeia.com/3real3.png
http://albertpeia.com/3real4.png
I Can’t
Take It Anymore! When Will The Government Quit Putting Out Fraudulent
Employment Statistics? http://theeconomiccollapseblog.com http://albertpeia.com/governmentfraudulentemploymentstats.htm
The
Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show
That Is Coming http://theeconomiccollapseblog.com http://albertpeia.com/2008crisisjustwarmupforcomingcollapse.htm
The Post’s View Drawdown
in Afghanistan Why
should troops die this year if U.S. is leaving next year? (Washington Post) [
Indeed! But the larger question is why should they have died in Afghanistan at
all? Well, the answer’s simple, even beyond the military industrial complex /
war profiteer thing. It’s not a question of the heroes in; but rather, it’s all
about the heroin. Yes, heroin! That icky, sticky highly addictive and
devestating drug that the most sordid of organized crime ilk here and abroad
find so appealing and lucrative. And, it’s ‘high time’ for this very newspaper
(among all others and media) to step up and say what everyone with a computer
and internet connection with a desire to know already knows; viz., the u.s.
government is in the illegal drug business (including heroin, cocaine, etc.) in
a very big way. Back when I brought a RICO action involving drug money laundering
(see infra) I never in my wildest dreams could have thought that reality to be
so, yet indeed it is so.
Drug war
hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt
banksters PF Louis | The hypocrisy of the war
on drugs is centers on the amount of drug trafficking that benefits the CIA and
international banking system. Natural
News
February 1, 2012 [ http://albertpeia.com/americangovernmentdrugtrafficking.htm http://albertpeia.com/americascorruptiondrugtrade.htm http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ] ‘The
hypocrisy of the war on drugs is outrageous when compared to the amount of drug
trafficking that benefits the CIA and international banking system. The son of
a convicted notorious mobster, John Gotti Jr, when asked in court if the family
still dealt drugs cracked, “No, we can’t compete with the government.”
Today in
Afghanistan, American troops have been seen guarding poppy fields used to make
heroin. Those fields were all but wiped out by 2001 when the Taliban destroyed
them and forbade that agricultural pursuit. Now they’re flourishing again after
the American occupation.
This
doesn’t make sense despite all the mainstream reports that American troops are
protecting the poppy farmers from the bad guys. Internet sites such as Prison
Planet, Info Wars, The Political Coffeehouse and others report otherwise. They
connect the CIA and US military to restarting the poppy fields in Afghanistan
in 2002, increasing poppy growth by over 650 percent. Who’s telling it like it
is?
The
CIA’s secret operations to influence journalism started in the 1950s by
infiltrating the media and bribing journalists to be operatives and assets for
the CIA. By 1976, then CIA director William Colby reportedly bragged that the
CIA owned the press. Supposedly, this too secret to name operation was coined
“Operation Mockingbird” by Deborah Davis in her book Katherine the Great.
Operation
Mockingbird worked well against prize winning journalist Gary Webb when his
newspaper, the San Jose Mercury News, ran his in depth series on CIA
drug trafficking that flooded the USA to help finance the CIA backed Nicaraguan
Contras during the 1980s.
Journalists
all over the USA jumped on the series, claiming Webb’s journalism was shoddy.
The newspaper had to recant and fire him, and Gary Webb was black listed from
mainstream journalism completely.
Webb
retaliated by having his book Dark Alliance published and making the NY
Times best seller list, forcing some of his critics to privately eat crow
after the fact.
Despite
the CIA’s control of the press, a few Mexico and Central America cocaine busts
of plane cargoes and discoveries of large cocaine stashes on crashed planes
with CIA hired pilots flying them for front companies did hit the mainstream
news, albeit briefly.
Remember
the movie “Air America?” It was based on an actual CIA owned front company
transporting tons of heroin from Southeast Asia’s “Golden Triangle” poppy
fields during and after the Vietnam conflicts. Now Afghanistan and the “Golden
Crescent” are the featured opium/heroin conduit sources.
When the
U.S. government made deals with the Cosa Nostra mafia to help police ports and
harbors during WW II, they breathed life into the heroin trade. Eventually,
Marseilles, France was set up by the Corsican mafia to become the “French
Connection” for heroin traffic.
But
opium trade history goes back further, to colonial times and early America.
That’s when American shipping magnates used their fast Clipper Ships to compete
with England’s monarch sanctioned dope running East India Company for
transporting opium to China.
A few
key players created family fortunes from the China opium trade that exist today
within some northeast America’s “old money” families.
Among
the familiar family names, according to Wikipedia (source below) is
Forbes. Another source mentions Astor, a prominently wealthy philanthropic
family around New York today (Wiki source below). In those days, trafficking
dope was a legitimate business endeavor, immoral but not illegal.
Now it
is illegal as well. Ironically, this allows the biggest illicit drug providers
to financially benefit the CIA and international banking.’
Sources
for this article include:
http://whatreallyhappened.com/RANCHO/POLITICS/MOCK/mockingbird.php
http://en.wikipedia.org/wiki/Forbes_family
http://en.wikipedia.org/wiki/John_Jacob_Astor
http://thepoliticalcoffeehouse.com/2011/12/01/us-military-opium-afghanistan/
http://www.minormusings.com/Drugs/Mask.html
See also:
Big Banks, Gov’ts Collude in
Drug War Hypocrisy
Much Of
Afghan Drug Money Going To ‘Our Friends’
Steady
Stream of Drug Money Departs Afghanistan, U.S. Officials Flummoxed
Afghan
CIA Drug Kingpin Shot Dead by Own Bodyguard
Afghanistan drug trade hits
$4 billion a year
Occupiers
involved in drug trade: Afghan minister
US and NATO protecting
Afghan drug trade
B.C.
RCMP seize 60,000 poppy plants in record haul
NATO
rejects Russian call for Afghan poppy spraying
War on
drugs is a hoax: US admits to guarding, assisting lucrative Afghan opium trade
UN:
Afghan opium production up by 61% under NATO’s watch
DOJ:
Drug Cartel’s Influence Extends Well Beyond Border Well Into the U.S.
TOUCH ME by THE DOORS
(Album "The Soft Parade")
{ I played this song along the album according to some other versions I was
able to find and it didn't sound well. So, I tried to write my own version
of this song - here is the result. http://www.rockmagic.net/guitar-tabs/the_doors/touch_me.crd }
INTRO:
4 times: Am Am Am G Am Am G Am Bm
2 times: Am7 Am7 Am7 G7 Am7 Am7 G7 Am7 Bm7
1 times: Am7 -stop-
VERSE:
Come on, come on, c'mon, c'mon now
G
Touch me babe,
Bm C Cm
Can't you see that I am not afraid.
A# Dm
What was that promise that you made?
D# F#
Why won't you tell me what she said?
C#
What was that promise that she made?
CHORUS:
F# Fm
Now I'm gonna love you
F# G# C#
till the heaven stops the rain.
F# Fm
I'm gonna love you
F# G# F#
till the stars fall from the sky
C#
for you and I.
In
South, Gingrich vows to rise again The most topsy-turvy among up-then-down-again candidates
says he could revive once more. (Washington Post) [ Rise again indeed! Like a
phoenix from the ashes! You just can’t keep a good sleaze / con down (look at
wobama). Not to worry newty; you got the endorsement of that new york don
(trump), which also means you can be his celebrity apprentice. And, from beyond
in South LA (‘LA Woman’ – The Doors) we hear the sweet sound of ‘the lizard
man’, Jimmy’s spirit joining the thongs, I mean the throngs in unison,
feverishly calling out in support of ‘the newt man’:
“ Mr.
Mojo Risin', Mr. Mojo Risin'
Mr. Mojo Risin', Mr. Mojo Risin'
Got to keep on risin'
Mr. Mojo Risin', Mr. Mojo Risin'
Mojo Risin', gotta Mojo Risin'
Mr. Mojo Risin', gotta keep on risin'
Risin', risin'
Gone risin', risin'
I'm gone risin', risin'
I gotta risin', risin'
Well, risin', risin'
I gotta, wooo, yeah, risin'
Woah, ohh yeah “
Yes newt
man … sounds like a plan!
Well, I
just got into town about an hour ago
Took a look around, see which way the wind blow
Where the little girls in their Hollywood bungalows
Are you a lucky little lady in The City of Light
Or just another lost angel...City of Night
City of Night, City of Night, City of Night, woo, c'mon
L.A. Woman, L.A. Woman
L.A. Woman Sunday afternoon
L.A. Woman Sunday afternoon
L.A. Woman Sunday afternoon
Drive thru your suburbs
Into your blues, into your blues, yeah
Into your blue-blue Blues
Into your blues, ohh, yeah
I see your hair is burnin'Hills are filled with fire
If they say I never loved you
You know they are a liar
Drivin' down your freeways
Midnite alleys roamCops in cars, the topless bars
Never saw a woman...
So alone, so alone
So alone, so alone
[ Lyrics from:
http://www.lyricsfreak.com/d/doors/la+woman_20506553.html ]
Motel Money Murder Madness
Let's change the mood from glad to sadness
Mr. Mojo Risin', Mr. Mojo Risin'
Mr. Mojo Risin', Mr. Mojo Risin'
Got to keep on risin'
Mr. Mojo Risin', Mr. Mojo Risin'
Mojo Risin', gotta Mojo Risin'
Mr. Mojo Risin', gotta keep on risin'
Risin', risin'
Gone risin', risin'
I'm gone risin', risin'
I gotta risin', risin'
Well, risin', risin'
I gotta, wooo, yeah, risin'
Woah, ohh yeah
Well, I just got into town about an hour ago
Took a look around, see which way the wind blow
Where the little girls in their Hollywood bungalows
Are you a lucky little lady in The City of Light
Or just another lost angel...City of Night
City of Night, City of Night, City of Night, woah, c'mon
L.A. Woman, L.A. Woman
L.A. Woman, your my woman
Little L.A. Woman, Little L.A. Woman
L.A. L.A. Woman Woman
L.A. Woman c'mon
The end
for Gingrich? He’s
going down in his own style. (Washington Post) [ Wow! Say it isn’t so; that is,
‘Jimbo’, as in the ghost of the great Jim Morrison of ‘Doors’ fame who as ‘the
lizard man’ reminds ‘the newt man’ that, “There are things known and there are
things unknown, and in between are the doors (of perception.” Aldous
Huxley); and,
then he breaks out in the famed refrain,
This is
the end
Slimy
Newt Man
The end
you dumb rear end
Your
door you whore,
The full
moon’s allure
Colony
no more!
Doors
The End Lyrics Sung by Jim Morrisson (first verse and then full song – with
guitar chords)
Songwriters: JACKSON, TONY / ROBERTS, BEN / D'ARCY, AARON
This is
the end
Beautiful friend
This is the end
My only friend, the end…’
THE END
D C D
This is the end, beautiful friend.
C D
This is the end, my only friend, the end
C G D
of our elaborate plans, the end
C D
of everything that stands, the end,
C G D
no safety or surprise, the end.
C D
I'll never look into your eyes again.
C D
Can you picture what will be,
G7 D
so limitless and free,
C D G D
desp'rately in need of some stranger's hand,
C D
in a desp'rate land.
D
Lost in a roman wilderness of pain,
and all the children are insane... x 2
waiting for the summer rain.
There's danger on the edge of town,
Ride the king's highway.
Weird scenes inside the goldmine;
ride the king's highway west, baby.
Ride the snake... x 2
to the lake,
the ancient lake, baby.
The snake is long,
seven miles;
ride the snake,
he's old and his skin is cold.
The West is the best... x 2
Get here and we'll do the rest.
The blue bus is calling us... x 2
Driver, where you taking us?.. x 2
(spoken)
D
The Killer awoke before dawn,
he put his boots on,
he took a face from the ancient gallery,
and he walked on down the hall.
He went to the room where his sister lived,
and then he paid a visit to his brother,
and then he walked on down the hall.
And he came to a door,
and he looked inside,
"Father?"
"Yes, son?"
"I want to kill you.
Mother I want to....."
Come on, baby, take a chance with us,
and meet me at the back of the blue bus... x 3
Come on, yeah.
With
Mitt and Newt, pragmatic vs. epic The policy differences between Romney and Gingrich
reflect their contrasting personalities
(Washington Post) [ Let’s not get too dramatic here! Epic? I don’t think
so; at least as long as you’re counting full moon lunacy.
Gingrich:
Today’s college students are coddled (Washington Post) [ Oh riiiiight, Ché Newty the
Revolutionary! They’ve got no jobs and an insurmountably bankrupt nation to
look forward to thanks in large part to you, your ilk, your peers, wobama et
als; and, notably, through no fault of their own. Besides, says newty, ‘kids,
they comb their hair in that funny way’.
Riiiiight, snooty newty, there’s those ‘janitorial jobs’ for which there
are even waiting lists of applicants for even those jobs according to reports.
Say anything, Ché Newty the Revolutionary! As per wobama, words are cheap; but
as we all now know, ultimately very costly when they’re more rhetoric /
b***s*** than truth / reality! Gingrich
turns to advisers who believe supply-side economics is the answer Advisers believe solution to nation’s deficit is to
spur growth through tax cuts and deregulation. (Washington Post) [ Oh
riiiiight! Worked like a charm in creating the last few fraud-induced debacles
in this ongoing crisis, and the trickle never quite seems to trickle down that
far. Yet, it appears the slimy newt’s found a kindred spirit in that malleable
italian, peter ferrara ( ‘Peter Ferrara describes himself as Gingrich’s chief
economic policy adviser and has won praise from Gingrich on the campaign trail.
A lawyer and libertarian scholar who had long advocated privatizing Social
Security — and once acknowledged taking payments from Jack Abramoff to write
favorable op-ed pieces about the lobbyist’s clients — Ferrara said he talks to
Gingrich almost daily…’), and the frauds on wall street will just love his
social security privatization / new blood for the infamous blood-sucking squid
(goldman sachs), to keep the ponzi padded with fresh dough once again on the
backs of taxpayers (kind of a ‘k street’ kind of drain). Focused regulation of
areas of the economy prone to fraud, ie., wall street, and deregulation as to
others, ie., small businesses, is a more optimal course.( Bribes, Chinese mob ties alleged at Casino of
Gingrich money man Sheldon
Adelson Denies Wrongdoing as FBI, SEC Probe Alleged Corrupt Practices …).
Sargent:
Romney camp — Newt ‘erratic, reckless’ (Washington Post) [ Yeah, that slimy newt; erratic,
reckless … (n)e(u)rotic, feckless. I’m still on the edge of my chair as to what
sweet Nancy’s got on the slimy newt though her lips are sealed even as the
daredevil newty says, bring it on, let’s hear what she’s got, which of course
newty would already know yet might not register with him given his
unconflicted, sociopathic, ‘revolutionary’ nature. Let’s hear it, Nancy! Pelosi: Gingrich Will Not Get The Nomination, There Is Something
I Know CNN |
“There is something I know. The Republicans, if they choose to nominate him
that’s their prerogative. I don’t even think that’s going to happen.” , Drudgereport: PELOSI
THREAT: NEWT WON'T BE PRESIDENT 'THERE
IS SOMETHING I KNOW' { And, what is that Nancy, pray tell…that newty has a
coutee (vagina) and Calista is a lesbian? Or, that the newter has a couter and
Calista is a man? Please do tell! }
The Post’s View Grand
rhetoric, smaller ideas
Editorial Board The State of the Union
served less as a policy blueprint than a case for reelection. (Washington Post)
[ And a weak case (for reelection) it is! http://albertpeia.com/40piecesevidenceusdecline.htm , http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm , http://albertpeia.com/50economicnumbersofuscollapse.htm .
Scientists
fear end of trips to Mars They’re
worried and angry as the White House won’t commit to the plan to explore the
red planet. (Washington Post) [ Been there, done that courtesy of Brian
DePalma. Why waste money the nation doesn’t have by going back? After all, the
nation is defacto bankrupt. buzz
aldrin wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to
see if he already has the footage in the can since you won’t be able to use the
moon footage for the new boondoggle video ... ‘Mission to Mars’ … Previous: OBAMA
SPEECH OUTLINES PLANS FOR RETURNING DEFACTO BANKRUPT U.S. TO SPACE – OOOOOH!
SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION).
Astronauts' tracks, trash seen in new moon photos [ The
easiest thing in the world to contrive (don’t forget they can with some
precision today send robotics to ie., mars, etc.) and doctor so don’t be taken
in by their fraudulent b***s***! They’re probably desperately looking for some
money / budgetary consideration for their continued boondoggles. No man has
ever set foot on the moon to date. As NASA
transitions, U.S. space politics in a state of flux (Washington
Post) [ U.S. space politics? I didn’t know there was such a thing. But I, and
I’m sure all know that ‘u.s. politics are spaced’. Flux? One could only hope.
I’d say, ‘fleeced’; as in we’ve all been fleeced. Sterner:
5 myths about NASA (Washington Post) [ If you can’t get past the
first myth; viz., that they actually set foot on the moon, the other 5
so-called myths become irrelevant. Indeed, post-Eisenhower, and certainly
post-Kennedy-assassination / coup d’etat, NASA was all military / military
industrial complex (moreover, someone knowledgeable about such matters said
essentially that in explaining to my surprise the transition to the shuttle
program it was said there was greater military application in same). In any
event, Russia’s been doing quite a bit of ‘heavy lifting’ vis-à-vis the space
station, but not inordinately so. All I can say with certainty is that the
universe beyond this solar system is forever protected / insulated. The fact
is, they never set foot on the moon; and, in light of the pervasive corruption
in and defacto bankruptcy of the nation, their perpetual wars toward making a hell
on earth militate against anything but trying to do even just a little bit
better (for a start), terrestrially. NASA wants mission to bring Martian rocks to Earth
(AP) Why? They already have that and
more: Launch of secret US space ship masks even more secret
launch of new weapon The Militarization of Outer Space: The Pentagon’s “Space
Warriors” Global
Research | It’s not as if things aren’t bad enough right here
on planet earth. Now the Defense Department wants to up the stakes with new,
destabilizing weapons systems that will transform low- and high-earth orbit
into another “battlespace.”
Economy
makes election a nail-biter Few of
the proposals laid out by the president Tuesday would jump-start the economy
before November. ‘Once
again, long-winded on rhetorics but short on specifics’ (WP) [ No … it’s not the economy that makes the
election a nail-biter. Rather, it’s wobama’s ‘long-winded on rhetorics but
short on specifics’ typical b***s*** that makes for this a ‘nail-biter’. No
specifics? Indeed! From ‘wobama speak’ we can surmise from this ‘hedge’ that at
least he wouldn’t be vulnerable to the legitimate accusations that his actions
(and non-actions) belie his words as last time around. As for the economy, it’s
all that bad and worse! Are
George Soros, The IMF And The World Bank Purposely Trying To Scare The Living
Daylights Out Of Us? [ Short answer: No! The crisis is real!
] http://albertpeia.com/diretimesahead.htm .
[GOP
reactions reflect party divisions Indiana Gov. Mitch Daniels makes official response,
but Romney and Cain also offer their takes. (WP) [ Although I didn’t listen to
/ watch wobama’s b***s*** session (his words are absolutely worthless and as
last time around, belied by his misguided deeds), I did pay attention to the
intelligent, succinct, poignant Republican Response by Mitch Daniels, Gov.
Indiana, and confidently say, if he so chooses the path, he will prospectively
be President. A way his formidable background and talents could more quickly be
brought to the fore would be a Ron Paul / Mitch Daniels ticket which would be a
Mitch Daniels candidacy then Presidency in 2016. This would give the nation and
the world ‘time to breath’ while recovering from wobama way of failings / missteps. You can’t ignore Oliver
Stone’s sagacious opinion in such matters as these. ( Oliver Stone: I Would Vote For Ron Paul Over Obama Steve Watson |
“He’s the only one who’s saying anything intelligent about the world”. ) His
great film anthology speaks for itself and has ‘caught and treated’ some of the
most significant, recent american historical ‘breakpoints’.]
Limbaugh: Ron Paul “Sounds Like An Islamic Terrorist” Steve Watson | Says he would have no problem with TSA
detaining US Congressman. [ Ah, come on. You got to infer something’s
supplanted limbaugh’s hillbilly heroin and clouding his judgement. He’s watched
too much ‘24’ (while sampling his ‘talk radio’ among others, he’d talk of this
show as if reality) ‘under the influence’ which has had the desired mainstream
hypnotic effect on his bloated / clouded perspective. ]
It cites
some of the most breathtakingly self-congratulatory statements that I’ve ever
seen from a politician, and that is a high bar.
Last
month: “I think I am a transformational figure.” (Shouldn’t there have been a
footnote crediting Barack Obama with that line?)
In 1985,
when he was a backbencher in the Reagan G.O.P., to put it generously: “I want
to shift the entire planet. And I’m doing it … I represent real power.” (Maybe
that explains global warming.)
In 1992,
when he was on the verge of becoming Speaker of the House, one of the most
non-revolutionary things you can do: “I am essentially a revolutionary.”
And in
2005: “I first talked about [saving civilization] in August of 1958.” It’s
fairly impressive that Mr. Gingrich remembers the exact date he first mentioned
saving civilization. Too bad it’s now been almost 54 years and he still hasn’t
done it.
All
politicians love to compare themselves to previous politicians, and Republicans
especially love to compare themselves to Abraham Lincoln, whose Republican
Party, of course, had no connection to the current one apart from the name. But
Mr. Gingrich truly excels at this, as in all other matters egotistical.
The
Romney news release, which is carefully sourced, contains examples of Mr.
Gingrich likening himself to Abraham Lincoln, Ronald Reagan, Margaret Thatcher
(another revolutionary, essentially), Woodrow Wilson, Henry Clay, Charles de
Gaulle (aren’t Republicans supposed to disdain the French?), William Wallace
(from the movie “Braveheart,” not the actual William Wallace); the Duke of
Wellington (presumably not for the beef or the boots), Thomas Edison, Vince
Lombardi, the Wright brothers, and any old Viking. And Moses…’ [In this
respect, viz., potentially suffering from a narcissistic personality disorder, he’s
not so different from wobama the b for b***s***]: ‘… During a recent 60 Minutes interview, Barack Obama said that only 3 presidents in U.S.
history accomplished more than he did during the first two years of his
presidency….
“The
issue here is not going be a list of accomplishments. As you said yourself, Steve,
you know, I would put our legislative and foreign policy accomplishments in our
first two years against any president — with the possible exceptions of
Johnson, F.D.R., and Lincoln — just in terms of what we’ve gotten done in
modern history. But, you know, but when it comes to the economy, we’ve got a
lot more work to do.”
He had
to be joking, right? Sadly, he was not joking…’ The
Economic Collapse
December 21, 2011 http://albertpeia.com/40piecesevidenceusdecline.htm
[Truth be told, though a narcissist
‘floats’ between feelings / emotions of grandiosity and inferiority, I do
believe much of wobama’s obfuscating grandiosity stems from and masks his
feelings of insecurity; and, his displays of grandiosity have worked so well
for him in the form of b***s*** that he’s continued this rather ‘doomed to
failure, course par’ approach to literally all matters, of state and
otherwise.]
Romney,
Gingrich clash sharply in debate The former Massachusetts governor attacked the
former House speaker as a failed leader, a K Street influence peddler and a
candidate who would put the party at risk in the general election. Gingrich’s
firm paid $25,000 a month by Freddie, according to contract (Washington Post) [ True enough, sweet mitt; the
slimy newt’s just an unscrupulous peddler; and none other than Frank’s ‘rat
pack bro’, the Dino is ushered in from beyond by Frank to croon in his smooth
as greecey italian way and warn us all:
The
Peddler’s Serenade {recorded 1962 Dean Martin joined Frank Sinatra's Reprise
... "The Peddler's Serenade" (Jimmy Eaton / J.J. Corvo / Paul McGrane}
There’s a peddler and former speaker of the house
Was forced to resign ‘cause he’s such a louse
The peddler slimy newt with nothing of substance to
sell
Just like wobama will bring the nation down to hell
(Actual
lyrics in pertinent part)
There's a peddler comes to our house
With such wonderful bargains to sell
And he starts our hearts to tingling
Just as soon as he pushed the bell …
Fannie, Freddie writedowns too
costly: regulator WASHINGTON (Reuters) - The
regulator for Fannie Mae and Freddie Mac told lawmakers
that forcing the two mortgage firms to write down loan principal would require
more than $100 billion in fresh taxpayer funds… [ In other words, like the fed,
banks, fannie/freddie are carrying
worthless toxic assets ‘marked to anything’. ]
The two
faces of Newt Gingrich With
few campaign advisers to keep him on track, the candidate is showing his nasty
side. (Washington Post) [ Yes indeed, we see ‘both sides now’ of ‘nasty newt’;
as ominously warned by the sound from beyond of none other but Frank {
Performed by
Frank Sinatra 1968, Written by Joni Mitchell First release Both Sides Now by Judy Collins on audio album Wildflowers (November 1967) }
Rows and
flows of newt’s white hair
And icy screams from bombs in the air
And unfettered cannons ev'rywhere
I've looked at mushroom clouds that way …
Krauthammer:
The GOP’s suicide march
(Washington Post) [ Wow! Mr. Krauthammer must have been having a ‘bad hair
day’. Suicide march? I don’t think so. I even was compelled to look up his
(vaulted mis)use of ‘manichean’ (definitions infra) in his rather grimly
devised piece. Whew! Time to break out the ‘sackcloth and ashes’. I truly have
never seen Mr. Krauthammer so ‘off his game’. If one can’t appreciate the
ultimate ‘raison d’etre’ for the occupy movement vis-à-vis the egregious,
gargantuan, still unprosecuted wall street frauds, clearly, that person’s not
been paying attention; and, to ignore same is to do so at the nation’s peril [ Obama
flush with financial sector cash The president has managed to raise more money this
year from the sector than any GOP contender. (WP) [ So much for obama and OWS;
but how ‘bout wobama and obs … yes, more ‘obama b*** s***
! The quid pro quo … the bribe … Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it
...Obama, who vowed change, has done almost nothing to fix any of it and
in fact continues most of the policies that helped get us here in the first
place’ ‘INSIDE JOB’ Ferguson wins
Oscar for Documentary on the unprosecuted massive extant fraud in the (many)
TRILLIONS by the frauds on wall street ( and declares with oscar in hand that
not one high level wall street exec has been prosecuted … despite ‘earning’
billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv , http://albertpeia.com/10mostcorruptpols.htm ] . I
often point to the stupidity of americans generally, but not so dumb to ignore
the most basic math coupled with common sense relative to these
nation-debilitating, unjustifiable frauds, boondoggles. At this juncture I feel
obliged to state that I haven’t voted for decades (kind of along the lines of
‘George Carlin’s famed defense of his own non-voting record which he justified
by reminding all that Hitler came to power in a full, free, democratic election
by a landslide’). Yet, on all the ‘big ones’, I’ve always taken a prior
position based on the ‘reality’ of the prospective result. May I humbly say,
I’ve never, ever been wrong. These are ‘debates’ …’words’… geared toward
positioning one or another for the opportunity of the ‘big job’. To expect
anything less than at least a ‘little bit of juglar’ is a bit naïve. So calm
down Mr. Krauthammer; nothing’s been lost. Testament to Mr. Krauthammer being
‘off his game’ here is his positing of ‘wobama the b for b***s***’ as being
smart. Au contraire Mr. Krauthammer! Wobama’s quite dumb! If smart, wobama
would have done as he said he would do last campaign, and the nation would have
been far better off for it! Parenthetically, look to who’s pushing the
censorship bills; now, that’s political desperation! To cheer Mr. Krauthammer
up, there’s also that egregious ‘Keystone’ misstep which even The Post’s
Editorial Board felt compelled to point out. We’ll just chalk this up to
‘(temporary) situational anxiety disorder’.
Dueling
versions of the un-Obama In
their disparate portraits of president, Romney, Gingrich reveal something
important about selves. (Washington
Post) [ Dueling versions as in ‘Dueling Banjos’ (Book, Movie ‘Deliverance’)? …
If so, chalk it up for the slimy newt who has proven he fares well with the
hillbillies of socar. Un-obama as in uncola ? …
If so, up we chalk it for sweet mitt since the slimy newt has as Coca
Cola that Atlanta root. Remember slimy newt … no cornholin’ outside your third
marriage as per Frank’s prior warning:
Should I
(Reveal) { Recorded by Frank Sinatra
Songwriters: Nacio Herb Brown, Arthur Freed }
Should
the slimy newt reveal
He’s nothing
but a heal
Should the slimy newt recite
he’s no more than a thief in the night…
Frank
can’t take it anymore, this politics thing is depressing his spirit, and, to a
higher astral plane he shall ascend and he’ll chime in on this election no
more!
(Actual lyrics in pertinent part)
Should I
reveal exactly as I feel?
Should I
confess I love you?
Should I
recite beneath the pale moonlight?
And
swear by the stars above you…
Romney,
Gingrich clash sharply in debate The former Massachusetts governor attacked the
former House speaker as a failed leader, a K Street influence peddler and a
candidate who would put the party at risk in the general election. Gingrich’s
firm paid $25,000 a month by Freddie, according to contract (Washington Post) [ True enough, sweet mitt; the
slimy newt’s just an unscrupulous peddler; and none other than Frank’s ‘rat
pack bro’, the Dino is ushered in from beyond by Frank to croon in his smooth
as greecey italian way and warn us all:
The
Peddler’s Serenade {recorded 1962 Dean Martin joined Frank Sinatra's Reprise
... "The Peddler's Serenade" (Jimmy Eaton / J.J. Corvo / Paul McGrane}
There’s a peddler and former speaker of the house
Was forced to resign ‘cause he’s such a louse
The peddler slimy newt with nothing of substance to
sell
Just like wobama will bring the nation down to hell…
Marcus: Gingrich
shoots the messenger Parker:
Gingrich’s plea of persecution (Washington Post) [ Yeah! Poor (not really
thanks to that slithery ‘k street phenomena of money for nothing’) slimy newt.
There’s really no excuse for blaming the media. I actually believe her (could
be a familiar ‘meaning of the word is, is’ scenario) but to that I say, ‘So
What’! After all, if it was a lack of mendacity and meretricious, disingenuous
hypocrisy that the media and electorate were looking for, Ron Paul would be
surging! And from beyond, we sense Frank’s upset as he croons:
He was
married and so was she
In a
house of sticks that he was made to flee
She wore
black and he wore white
Though
she might win this fight
So what,
she shot him down
So what,
they were blank rounds
Bang
bang, the media rang
Bang
bang, the socar hillbillies sang
So what,
his baby shot him down … with blanks!
My Baby
Shot Me Down
Writer:
BONO, SONNY / REYES, SENEN / FREESE, LOUIS / FERM, DEMERICK SHELTON Recorded: Frank Sinatra ‘She Shot Me Down’
1981
(Actual
lyrics in pertinent part)
I was five and she was six
We rode on horses made of sticks
I wore black and she wore white
She would always win the fight
Bang bang, she shot me down
Bang bang, I hit the ground
Bang bang, that awful sound
Bang bang, my baby shot me down …
Petri:
Grandiose Gingrich overruns awful Romney Rubin:
In debate, Gingrich meets his match (Washington Post) [ ‘Same Debate: Two views, the
news, two different views’. The gamut … from ‘bull run to ‘bull s***’ they did
diverge. Frank’s displeased with this lack of clarity so from beyond he adds
his soothing sound … for clarity of course! :
"Tea
for Two" (recorded 1947 Frank Sinatra / Dinah Shore) (Music/Youmans
Lyrics/Caesar)
We’re
discontented with candidates that are rented
With
grand promises that they’ve invented
America’s
now a place that’s no oasis
Where
life’s weary chase is always in crisis
Far from
the cries of crime victims in the city,
Where
flowers pretty caress the streams
Sarcozy
to hide in, and war monger side-by-side in
Don’t
let lobotomy joe bidin your dreams.
Slimy
newt flat on his high knee, more war plans from Romney,
Chinese
tea for two, and two for Chinese tea,
Me for
who and you show me, al one!
{actual song in pertinent part}
I'm
discontented with homes that are rented
So I have invented my own.
Darling this place is a lover's oasis where life's
weary chase is unknown.
Far from the cry of the city, where flowers pretty
caress the streams.
Cozy to hide in, to love side-by-side in.
Don't let it abide in my dreams.
Picture you upon my knee, just tea for two and two for tea,
Just me for you and you for me, alone! …’
The two
faces of Newt Gingrich With
few campaign advisers to keep him on track, the candidate is showing his nasty
side. (Washington Post) [ Yes indeed, we see ‘both sides now’ of ‘nasty newt’;
as ominously warned by the sound from beyond of none other but Frank {
Performed by
Frank Sinatra 1968, Written by Joni Mitchell First release Both Sides Now by Judy Collins on audio album Wildflowers (November 1967) }
Rows and
flows of newt’s white hair
And icy screams from bombs in the air
And unfettered cannons ev'rywhere
I've looked at mushroom clouds that way …
Gingrich
returns to his scrappy roots, closing the gap ahead of crucial S.C. As crunch time nears, Gingrich sharpens his elbows
for a “dirty and dishonest” campaign against him. What’s
Marianne Gingrich got on her ex-husband? (Washington
Post) [ Married four times himself, the spirit of Frank shows his magnanimous,
albeit surprising support for the slimy newt and sings as only Frank can, while
asking the slimy newt to join in:
‘Lady is
a Tramp’ Writer(s): Rodgers/Hart
Recorded 1956: Frank Sinatra
She gets
too hungry, weighs two hundred and eight
She hates political theater, and always comes late
She'd always bother, with people he'd hate
That's why the lady is a tramp
Yes,
snooty newty, Frank forgives you your new booty … this time!
{(actual
lyrics in pertinent part)
She gets too hungry, to eat dinner at eight
She loves the theater, and never comes late
She'd never bother, with people she'd hate
That's why the lady is a tramp …}
Drudgereport: AP: ABC TO
AIR THURSDAY NIGHT...
GINGRICH
DAUGHTERS: 'The failure of a marriage is terrible and emotional experience'...
NEWT EX-WIFE UNLOADS
Wed Jan 18 2012 Marianne Gingrich
has said she could end her ex-husband's career with a single interview… UPDATE:
The AP reports ABC is now likely to air the segment Thursday on NIGHTLINE.
Me and
My Shadow
snooty
newty and his shadow
Strolling
down pennsylvania avenue
snarky newty and his shadow
That’s a
dream that won’t come true
snooty
newty and his shadow
All
alone and feeling black and blue
‘cause
snooty newty and his shadow
just got mugged in front of wobama’s temp house too
I Love Paris (Writer(s):
Cole Porter) (Recorded 1959, 1960 Frank Sinatra)
I love
Paris in the spring time
No room for newt on the ballot in the fall
I love seeing newt splinter this winter when he fizzles
I love seeing newt the bummer in summer when it sizzles
Newty seems
dumber,
Really
don’t have to wait for summer,
to see that bummer newty fall
Ron
Paul’s achievement After a
quarter-century in the wilderness, he’s within reach of putting his cause on
the map. (Washington Post) [ At first blush, I thought by this headline this
article to be Mr. Krauthammer’s vailed attempt at sarcasm. After all, as a
jewish man himself, I’ve yet to see him take a position that could in any way
be even remotely antithetical to israeli interests; and yet, one would have to
be blind and dumb not to to realize such zionist / pro-israeli policies as
foolishly adopted by the u.s. have been unequivocally antithetical to american
interests. The testament to the merger of contraindicated american ‘interests’
with selfishly construed israeli interests was that display of wildly cheering
israeli agents on the banks of the palisades in Weehawken, n.j. at the sight of
the burning / exploding / symmetrically imploding trade towers (including bldg.
7) on 911 (contriving such a ‘pearl harbor event’ a neocon / military
industrial complex / israeli wet dream come true. Later history might even
write this as the ‘albatross incident’ for america). The great but
substantially underrated President General Eisenhower warned of the military
industrial complex whose interests and welfare programs have merged with those
of the militant illegal-nuke totin’ israelis whose interests suddenly merged
into puppet-in-chief wobama despite wobama’s campaign rhetoric to the contrary
upon which he was elected. Parenthetically, President Eisenhower never took any
crap from the terrorist begin / israelis in contravention of American interests
in the region. I truly don’t know what
being a libertarian means; but I do know that a junkie/thief/methamphetamine
addict from virginia who stole some (very valuable to me) items from me here in
Socal had a father who was one and he professed being one of sorts himself
though questionable (ie., his ‘phony’ business card with an ‘in God we trust’
logo, etc.). The importance of Ron Paul is to point out the unsustainability of
‘same old / same old’ without reason, purpose, advantage to any but the very
greedy short-sighted few, though substantially detrimental to the nation. After
the cold war’s end, with peace dividend to grace clinton, the substantial
achievement of Reagan / Gorbachev, if america had literally ‘done nothing’
rather than having embarked upon the ‘money-eating / war-profiteering’
adventurism along with ‘that engagement thing’ with communist china so hailed
by former ambassador to china / cia man bush, no nation could have caught up to
and passed america; some and then many have and are destined to do so (what the
heck, decades at best anyway). The fed has failed all mandates for which it
supposedly exists. They’ve literally helped consummate for the intended benefit
of the few, frauds in the trillions, to the substantial detriment of the vast
majority and the nation itself (among other culpable acts, ie., $4 trillion
missing at the new york fed, over-printing of
the ever more worthless dollars, etc.). For the israeli lobby, reality
is a frightful thing. For pervasively corrupt, defacto bankrupt america,
reality is also a frightful thing.
Mitt
Romney’s capitalism His
record sparks an overdue debate about the system. (Washington Post) [ What
system? The american ‘system’ in a nutshell is ‘fraud’ as in fraudulent as in
to get ahead in america you must become a criminal, an accomplice, and be sure
not to show any scruples whatsoever in so doing. The so-called laws are at best
arbitrarily enforced if at all (and used most often to silence both conscience
and opposition). Keep quiet (cover-up), you’ll be rewarded (infra); open your mouth or rock the sinking uss titanic
and you’ll pay dearly. That’s the so-called ‘system’; with huge
government-protected (ie., wall street, etc. ) frauds (infra), government illegal drug distribution (infra), illegal wars / war profiteering / war crimes, etc.
(infra), all in plain sight. The only question concerning
Romney’s capitalism given his background and the few opportunities for
legitimate work in america is whether what he did was legal. There are numerous
fortunes being made on wall street by illegal means, still unprosecuted, among
other sordid fraudulent schemes and worse, in and out of u.s. politics,
including the contrived wars, war crimes, war profiteering, etc., with those
cogs in the military industrial complex so warned against by the great but
substantially underrated President General Eisenhower profiting exorbitantly.
I’m still wondering what these k street schmoozers, carlyle (infra), etc., ‘do’ for their piece of the misguided
action, as with lobbies including the likes of gingrich, santorum, etc.. (34 Shocking Facts About U.S. Debt That Should Set America
On Fire With Anger http://theeconomiccollapseblog.com
http://albertpeia.com/34shockingfactsaboutusdebt.htm
‘We have all been lied to. For decades, the leaders of both major
political parties have promised us that they can fix our current system and
that they can get our national debt under control. As the 2012 election
approaches, they are making all kinds of wild promises once again. Well
you know what? It is all a giant sham. The United States has gotten
into so much debt that there will be no coming back from this. The
current system is irretrievably broken… Professor Laurence J. Kotlikoff, the
U.S. is facing a "fiscal gap" of over 200 trillion dollars in the
future. The following is a brief excerpt from a recent article that he
did for CNN...The government's total indebtedness -- its fiscal gap -- now stands at
$211 trillion.. The fiscal gap is the difference, measured in present value,
between all projected future spending obligations -- including our huge defense
expenditures and massive entitlement programs, as well as making interest and
principal payments on the official debt -- and all projected future taxes…#33 If
you add up all forms of debt in the United States (government, business and
consumer), it comes to more than 56 trillion dollars. That is more than $683,000 per family…). Then of course there’s
wobama’s sordid ‘pre-election’ story (Barack
Obama: The Naked Emperor Shocking but true revelations from David Icke| ‘...Obama is just more of the same, a big
smile with strings attached, and controlled completely by those that chose him,
trained him, sold him and provided his record funding, kept his many skeletons
under wraps, like the gay sex and crack cocaine … (infra)
Carlyle
Group founders earn big in ’11 The
three founders of the private buyout firm each earned nearly $138 million,
documents show. (Washington Post) [ No
surprise here! After all, despite campaign promises to the contrary,
contraindicated war plays well for ‘bush failure 3 aka wobama the b’. Carlyle
in diversification flurry Carlyle
is expected to announce $40 million in energy investments, capping a two-week
flurry of deals. (Washington Post) [
Yeah! You’d expect that from the likes of them; you know, a ’flurry’ so close
to the election; quid pro quos, bribes and things … Flashback: Carlyle
picks underwriters for IPO (Washington Post) [ Clearly part of the
problem. ‘Cashing out’ while the ‘goin’s good’, gettin' out while the gettin’s
good? Well what else is wall street for? Stock Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed… an especially great opportunity to sell / take profits
while you still can since there's much worse to come! ‘Albert Edwards:
Thinks the Market Could Fall 70%’ He’s
not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Previous: Carlyle Group planning IPO (Washington
Post) [ Come on! Mr. Heath makes this
sound like an almost public service endeavor to serve the public interest in
some vague, nondescript fashion (What of real value do they do? … kind of like
the fraudulent wall street high-frequency trading churn-and-earn … Nothing! …
Like parasitic termites eating away at the foundation of the nation); poppy’s
estate plan is maximized, along with the other principal’s financial interests
by cashing out through this ‘public offering / scam’ as for the most part, this
era of their ‘jig is up’ . Meet
The Carlyle Group - Former World Leaders and Washington ... How will
President George W. Bush make a personal fortune from the War on Terror? The old fashioned way.
He'll inherit it; Meet the Carlyle Group. Founders: Daniel A. D’Aniello, William E. Conway Jr. and David M. Rubenstein
The Bush-Carlyle
Connection http://www.informationclearinghouse.info/article3309.htm "CHRONOLOGY:
The Bushes And The Carlyle Group" Bushnews.com. Source: http://www.bushnews.com/bushcarlyle.htm
"The Bush-Carlyle Group Archive" .. , A Look
At Why The Carlyle Group
Wanted to Drop George W. Bush ... http://www.informationclearinghouse.info/article3994.htm David
Rubenstein, founder of the secretive defense contractor Carlyle Group. Recalls how useless Bush was as a board member of Carlyle's firm Caterair and ... , BuzzFlash
Perspectives - The Bush-Carlyle Group
Archive http://www.buzzflash.com/perspectives/2002/Bush-Carlyle.html The Bush-Carlyle Group
Archive. Company Man Special Report, 2002. "[Frank Carlucci, chairman of
the Carlyle Group], was
brought into the Nixon ... , Carlyle Empire
- U.S. Politics Page: Bush,
Carlucci, Soros http://culturechange.org/CarlyleEmpire.html The biggest
private investor in the world, deeply entrenched in the weapons' sector, is a
discreet group that cultivates dealings with influential men, including ...
www.hereinreality.com/carlyle.html
http://www.angelfire.com/indie/pearly/htmls/bush-carlyle.html
. Barack
Obama: The Naked Emperor Shocking but true revelations from David Icke| infra ‘...Obama is just more of the same, a
big smile with strings attached, and controlled completely by those that chose
him, trained him, sold him and provided his record funding, kept his many
skeletons under wraps, like the gay sex and crack cocaine .. Larry Sinclair
(from affidavit: 1. Who is Ron Allen that claims to be with your Presidential
camp, who is alleged to claim that someone claiming to represent me called
asking for $100,000, to keep me from coming forward about our (Obama and I)
November 1999 encounter of sex and cocaine use?), ... Obama is just another
Banksters' moll prostituting himself .., and that's why he supported the
grotesque bail-out of the banking system and why he will always put their
interests before the people. His financial advisors
are straight from the Wall Street 'A' list, including Paul Adolph Volker (Trilateral
Commission, Council on Foreign Relations, Bilderberg Group), the head of the
Federal Reserve from 1979 to 1987 and Illuminati to his fingertips. Obama has
made him head of the Economic Recovery Advisory Board, which is dominated by
insiders, including its staff director and chief economist, Austan Goolsbee, a
close Obama associate from the University of Chicago. Goolsbee is an initiate
of the infamous Illuminati Skull and Bones Society at Yale University, which
also includes Boy and Father Bush. It was Goolsbee who told the Canadian
government not to worry about Obama's attacks on the economic effects of free
trade agreements because his words were just to win votes in the election
campaign. Another Wall Street insider, the Zionist Timothy Geithner (Bilderberg
Group, Trilateral Commission, Council on Foreign Relations), was appointed by
Obama to be his Treasury Secretary. Geithner was the President of the New York
Federal Reserve Bank, the most powerful in the private Federal Reserve cartel
that masquerades as America's central bank, and he is a former employee of both
the Council on Foreign Relations and the appalling Kissinger Associates.
Obama's Treasury team locks into the inner circle around the Zionist Robert
Rubin, the Director and Senior Counselor of Citigroup, co-chairman of the
Council on Foreign Relations, and economic advisor to Obama. Rubin, a member of
the Illuminati Bilderberg Group, was the man behind Citigroup's strategy of
expanding its risk in debt markets which forced it to be rescued by taxpayers'
money. The very people who caused the financial crisis are being appointed by
Obama to decide how to respond to it (more taxpayers' money for them and their
friends)’
Rubin:
Gingrich out for revenge
(Washington Post) [ Yes, newt … revenge is sweet and so are you … Your reward:
a message and a song to sing as you pine away about what was your day … Sweet
slimy newt, once again from beyond, Frank’s got just the sultry sound to soothe
your vengeful, restless spirit, so sing it snooty newty (but stay away from any
new booty) :
Gingrich
gets emotional at campaign event In an
unusually emotional moment, the former House speaker got teary-eyed when asked
a question about his mother during an Iowa town hall Friday. (Washington Post)
[ Wow! Slimy newt’s Muskie moment. Mom or no, he of all slime bags should know
that ‘Big Boys Don’t Cry’; oh, excuse me, that’s ‘Big Girls Don’t Cry’. What to
do … to cheer up the maudlin newt? Yes … once again from beyond, the sultry,
soothing, sound of Frank provides the answer: { ‘Send in the Clowns’ -Full
song, real lyrics with intro by Frank, infra:(Stephen Sondheim)[Recorded June
22, 1973, Hollywood] }
Isn't
newt rich? Is he and mom a pair?
newt here at last on the ground and his campaign in mid-air
Send in the clowns…
Isn't
newt rich? Isn’t he queer?
Losing his timing this late in his nearly presidential career
But where are the clowns? Send him to the clowns in d.c.
Well, maybe but not next year
For some
Hill Republicans, fear of a Newt Gingrich nomination Republican
lawmakers, strategists fear Gingrich would jeopardize GOP prospects for control
of Congress. (Washington Post) [ Fear indeed! Fear and loathing in fact is more
descript; and, not just by Hill Republicans, to be sure. Then, ominously from
beyond, another warning from the ghost of Frank (‘My Way’ Writer:Anka
Composer:François,Revaux) : … ‘Regrets, newt’s had a few, but then again, too
many to mention’ … Indeed, far too many, and, despite crocodile tears from the
duplicitous ‘slimy newt’, his unconflicted nature regarding such things means
there are probably so many such things worthy of regret that he’s all but
unelectable as president ( speaking of newts, amphibians, throw in an arachnid
for good measure, think of that fable of the’ frog and scorpion crossing the
river’ and the ‘all in his nature thing’). Romney:
Newt Gingrich an ‘extremely unreliable’ conservative leader EXCLUSIVE |
In a Washington Post interview, Mitt Romney says he has been more consistent
than his rival. (Washington Post) [ Yes … we can hear the ghost of Frank
sweetly serenading us with a foreboding and warning regarding the ‘slimy newt’
based on his hit tune (‘Call me irresponsible’ Writer(s): Cahn/Van Heusen):
Call him
irresponsible - call him unreliable
Throw in undependable too
Do his foolish alibis bore you
Well he’s not too clever – he just adores trumpish people we should boo
Call him unpredictable - tell him he’s impractical
Pots of gold at ends of rainbows he’s inclined to pursue
Call him irresponsible - yes newt’s unreliable
But it's undeniably true – newt’s irresponsibly mad for madman trump et als too
Full
song, real lyrics with intro by Frank:
‘Send in
the Clowns’ (Stephen Sondheim)[Recorded June 22, 1973, Hollywood]
[Spoken intro]
This is a song about a couple of adult people who have spent, oh, quite a long
time
together, till one day
one of 'em gets restless and decides to leave. Whether it's the man or woman
who left is unimportant.
It's a breakup.
It's a lovely marriage of words and music, written by Stephen Sondheim.
Isn't it rich? Are we a pair?
Me here at last on the ground and you in mid-air
Send in the clowns
Isn't it bliss? Don't you approve?
One who keeps tearing around and one who can't move
But where are the clowns? Send in the clowns
Just when I stopped opening doors
Finally finding the one that I wanted was yours
Making my entrance again with my usual flair
Sure of my lines
Nobody's there
Don't you love a farce? My fault, I fear
I thought that you'd want what I want, sorry my dear
But where are the clowns? Send in the clowns
Don't bother they're here
Isn't it rich? Isn't it queer?
Losing my timing this late in my career
But where are the clowns? Send in the clowns
Well, maybe next year
Financial
Troubles For Many Nations In The New Year Bob Chapman | 2012 is going to be quite a year with
falling economies in the UK, Europe, the US, China, Japan and the remainder of
Asia. Ron
Paul’s poll numbers are up in Iowa (Washington Post) [ As indeed they should be if
people are truthful about wanting real change for the better. Historical
headwinds
Gingrich, Romney and Paul against the odds. (Washington Post) [ This is without
doubt the most disappointing article by an otherwise invariably clear thinking
Mr. Will. I’m glad for his disclosure (the Perry link) inasmuch as at least
there is the possibility of a modicum of reason behind what otherwise would
constitute a total ‘lack of reason’. Mr. Will sets forth some interesting
tidbits of a category of sorts of history as if prepping for a round of
Jeopardy, so obscure as they are. Relevance to today, that is also as obscure.
If Mr. Will, of all people, cannot discern the difference today, from the
america of yesterday, one does have to wonder who can. Yet, I do believe the
vast majority in america do in fact discern such a difference. Why? Because the
magnitude of that reality (of difference) is so great that one would have to be
literally brain-dead to not discern it. Pervasively corrupt and quite literally
defacto bankrupt, america’s at the cusp of a complete collapse in every way a
nation could collapse; viz., financially, economically, politically,
geopolitically, and legally. Indeed, so stark are these realities despite
organized obfuscation, the same direction / status quo is blatantly untenable
to even the most stalwart of ‘stay the course types’. Other than the black vote
(roughly 18% according to’the first black president, clinton’) and the
relatively few remaining wobama loyalists, I do believe, though belated, it’s
human nature for that clear majority to opt for the chance of survival (of a
nation) rather than the already worn path of decline as tread by wobama. Then
comes the distinction between the failed president wobama and the alternative;
Ron Paul being the ‘man, with a plan, that’s not already been ran’. New
direction, change is sorely needed; which wobama promised, but never delivered,
jive-talking con-man that he is.
George
H.W. Bush said to support Romney (Washington Post) [“I think Romney is the best
choice for us,” said poppy bush. Exactly! Though surprisingly candid given his
oft shady rhetoric; from read his lips ‘no new taxes’ to ‘he’s thinking anew’,
words he ascribed to Lincoln; he really means this ‘us’ thing; not u.s. mind you;
but literally us as in the untalented (war) criminal bush clan that spawned two
failed presidents and have rested hopes for a third (jebby the judas – or at
least a still viable political ‘leeching of america’ position – same for his
lying -9/11- buddy tom kean’s son) in the ever increasingly desperate romney.
So poor a job did poppy do, he, like ‘wobama the b for b***s***, was a
‘one-termer’ (even bush failure 2 who ranks among the worst presidents in
american history, just a notch above wobama –the worst-, got two terms – people
were still buying into their self-created ‘national emergency mode’ war
propaganda). Then there’s his familial historical ties to fraudulent wall
street as well as even hitler et als. But then there’s the military industrial
complex so warned against by the great but underrated President General
Eisenhower that stands to gain by the bush league approach and certainly
romney’s bellicose rhetoric was made to order to accommodate such fleecing
enterprises with wars / conflicts made real thereby. ‘Best choice’ … For whom
should be the proper query? There’s the cia (and their illegal drug business and bigger off the grid budgets http://albertpeia.com/CIAAgentAffidavit1.jpg ), the
communist chinese (that engagement thing as former ambassador that’s worked out
so marvelously for america while make ‘those few’ very wealthy), the Carlisle
Group, etc.. Then there’s aipac, israel, zionist jews, neo-cons, mental-cases
like cheney, bolton, etc., and in the case of aipac have been showing their
love … not for americans/america, but for ie., romney and themselves… With
rise, Ron Paul could be spoiler in GOP presidential race — or kingmaker As the first votes approach in Iowa, the congressman
is a serious force with the potential to upend fight. (Washington Post) [
Spoiler? Kingmaker? How ‘bout ‘the candidate’! If there’s one thing far more
scrutinizing eyes than those of the so-called mainstream are apt to point out
(ie., Tyler Durden, Jones, Watson, etc.), it’s that the nation hasn’t fared so
well with the so-called ‘establishment / mainstream candidates / favorites’. In
fact, as we all know, the substantially compromised mainstream candidates with
substantially compromised mainstream positions have proven to be downright
disastrous for the nation, the people, and the world generally. The time has
come in light of realities to say, borrowing the words from Robert Kennedy …
Why not? There is no rational argument that militates against a Ron Paul who
calls things as they are. After all, whether people like to admit it or not,
the fed (like wobama the b for b***s***) has failed virtually all of their
mandates. Moreover, the bernanke fed’s policies have helped the frauds / perps
(biggest still unprosecuted) on wall street to the detriment of literally everyone
else. The same is true of the military industrial complex war-welfare plans as
warned against by the great but substantially underrated President General
Eisenhower in terms of the few they so favored at everyone else’s expense. The
examples go on and on and are too numerous to list. Rogers:
Paul is short on appeal
(Washington Post) [ Yeah … he ain’t pretty … but this ain’t a beauty contest …
Moreover, what has appeal gotten the nation? … where has appeal gotten the
nation to? … 4 years of wobama’s ‘appeal’ aka b***s*** has left the nation in
the toilet at best, cesspool at worst; and, in large part owing to the glaring
fact that if ‘wobama the b for b***s***’ had done what he said he’d do and
didn’t, the nation prospects, though still ominous, would have been
substantially enhanced. For all but Paul, it’s the failed ‘same old, same old’
which is, as per paraphrasing Einstein, neither a plan, nor strategy, but
rather insanity. Gingrich’s
time of testingTHE TAKE
| Can Gingrich survive rivals’ attacks, build a campaign that sustains his
candidacy? (Washington Post) [ ‘Time of testing’? Oh, but he has been tested …
scandal-scarred like no other, he has been found wanting … too much … not for
the nation, but himself … he’s already failed any and all tests. Newspaper
Chaired By Private Equity Head Shockingly Endorses Mitt Romney For President;
Ron Paul On Jay Leno Tyler
Durden on 12/18/2011 A few
hours ago the Des Moines Register threw
its support behind
the Bain Capital founder, and the man now known to have actively destroyed
any trace of his
public "service" before his 2007 Massachusettes office handover (with
a pending response to a Reuters FOIA, which will disclose just what it was that
Romney was so tenuously shredding). Because according to the Iowan newspaper,
Mitt Romney "is the best to lead" America, although into what, is not
quite clear - perhaps the biggest Fed funded LBO (with a Bain Capital $1 mezz
piece) of all time, that of America? We don't know. And neither does the
Register's editorial board. What they do know are hollow adjectives, such as
"sobriety", "wisdom" and "judgment" which somehow
are applicable to Romney, if not so much "betting" and
"shredding." Those looking for a late night laugh can read the OpEd
below (link to tomorrow's front page here). And ironically, while likely set to provide a very
short-term boost to Romney's chances, it is the baseless ongoing accusations
against Ron Paul that will likely solidify the groundswell behind the Texan,
with such desperate platitudes as "Ron Paul's libertarian ideology would
lead to economic chaos and isolationism, neither of which this nation can
afford." Because what America certainly needs is more of that old ideology
of doing everything just the same and hoping for the best, because if there is
anything Romney's would be predecessors have taught us is that hope apparently is a credible strategy. But perhaps
most relevant is the reminder that the Des Moines Register is a Gannett company
whose
Chairman just
happens to be one Marjorie
Magner, whose bio reads: 'Ms.
Magner, 61, is Managing Partner of
Brysam Global Partners, a private equity firm investing in financial services
firms with a focus on consumer opportunities in emerging markets founded in
January 2007. She was Chairman and CEO of Citigroup's Global
Consumer Group from 2003 to 2005. She served in various roles at Citigroup, and
a predecessor company, CitiFinancial (previously Commercial Credit), since
1987. Ms. Magner currently serves as a director of Accenture Ltd. and Ally
Financial Inc. and served as a director of The Charles Schwab Corporation from
February 2006 to May 2008. Ms. Magner has broad business experience and
financial expertise from the various senior management roles she held with
Citigroup." (that Romney felt the need to ‘kiss the ring’ of failed
president poppy bush says a lot about ‘regressive political persuasion’
In N.H.,
Romney steps up attacks on Gingrich(Washington Post) [ Yeah … he’d better get going,
ratchet up the rhetoric; after all, slimy newt’s just gotten the endorsement of
‘celebrity mobster madman’s (trump’s) apprentice’, ‘gary the b’ (for berserk)
busey (most notable for his role in the film ‘Tomcats’ as the guy with only
half a pair of b**ls!) (Drudgereport: Gary
Busey Endorses Gingrich... ). Five
myths about Ron Paul (WP) [ For me, the litmus test for any
candidate, though somewhat personalized, is generally applicable to the entire
national electorate. It falls within that very broad category; viz., ‘been
there, done that’. It is no mystery that the current wobama regime, et als are
trying in every which way to censor, obstruct, and otherwise control the
free-flow of information, particularly now the internet, which really works
against failed administrations as that currently in place. By every measure you
can gauge the success or failure of a presidency, wobama the b for b***s*** is
an abject failure. There is not one reason based upon what he said he would do
last time around, didn’t do, but as we now know had he done as he said the
nation would have clearly been better off this day. He basically continued the
policies of the prior failed presidency of war criminal dumbya bush, including
the same or similarly connected players, despite having campaigned vociferously
condemning same (CIA lawyer says Obama administration backed and continued
virtually all Bush-era programs Natural News ). Clinton was the luckiest of all
recent presidents in having the benefit of the peace dividend to smooth things
over, by way of the one and only but very significant accomplishment of Reagan
/ Gorbachev; yet, he found ways through deep-seated mental issues to fail,
which we all endured as if watching a soap opera unfold. Incompetent george
h.w. bush (‘poppy’) was basically the ‘cia in disguise’ which kept up the ops
which included that snookering of then american proxy, sadam hussein, by u.s.
ambassador april glaspie (see more
here infra)
(george h.w.bush was also ambassador to communist china and we all know how
that’s turned out for america; but, ‘they’ and ‘theirs’ have made a bundle..
poppy and clinton were tied by ‘virtue’ of their cia / Mena, Arkansas cocaine
drop / connection [ for me that connection was devastating to my RICO case
which involved the laundering of drug money through the trump casinos in atlantic
city,n.j., and poppy is after all, war criminal dumbya bush’s father ( see ie.,
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm , and, america also leads in the illegal drug trade, infra ) . .. calls for impeachment ..‘fast and furious debacle’.
Despite campaign promises, there
have been no high level prosecutions of the wall street frauds which are still
extant in the trillions. That ‘8%’ unemployment; don’t completely dismiss same as they
may just have enough of their stand-ins to work exactly 1 day to be
counted;that’s at best... as they’ve done, manipulate/fudge/outright lie about
the numbers (actual unemployment is beyond 15%). Gingrich actually carved out
exceptions for fraudulent wall street to the applicability of the RICO Act to
their frauds, among many other unscrupulous acts which will emerge; along with
having sought the endorsement of mobster, mental case trump.. romney follows
suit with a trip to kiss the ring of failed president poppy bush while
cow-towing as all but Paul to the israeli lobby. So I, as should be so for the
entire nation, say results count. (For me, it’s resolution of those corrupted
RICO matters). Reality counts. What’s gone before has failed;new direction,
policies are required. After all, Einstein did say, paraphrasing, ‘doing the
same thing over and over again and expecting a different result’ is insanity.
Ron Paul’s still standing!
America’s
shine is wearing off I know
why we are falling into a cataclysm of debt and can’t get out. (WP) [ Ah, yes.
The Puritans. Of noble purpose, religious freedom, freedom generally did they
come to these shores. A rare exception to the influx of immigrants to this
young nation who turned out to be more a virus to the indigenous peoples of
this land than what could have been expected from those of noble calling.
Indeed, in evolutionary terms, it’s doubtful that those so positioned abroad
would have represented a positive addition to the gene pool which, borrowing
from an insurance term, viz., adverse selection, springs forth the notion of
inevitability to the genocide of the indigenous populations while guaranteeing
the decline we see throughout this foundering nation. The effects of these
negative predispositions toward inherent criminality is certainly being felt
globally as well as domestically and has little to recommend it. My own direct
experience with the region(s) (particularly new jersey, new york, virginia,
connecticut, california) carves out no exception for the prevalence of the
worst of human nature; which is now collectively and pervasively americana. Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg
bankrupt america also spends more on military than all the nations of
the world combined... fed employees / contractors, cia, all 3 branches of u.s.
gov’t, etc., are included in this evolved american trait of inherent
criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1
|
11,877,218 |
|
|
# 2
|
6,523,706 |
|
|
# 3
|
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
The
following is my comment to an LA Times article regarding a Justice Department
cover-up! As for your inquiry, all I think about day and night is a long
overdue resolution to the RICO litigation as set forth therein:
I
believe him!
Here’s
some real, complicit cover-up / fraud on the part of the federal government, et
als:
October
15, 2010 (*see infra {ultimately delivered by UPS})
Steven
M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los
Angeles, CA 90024
Dear
Sir:
I
enclose herewith 3 copies of the within DVD rom autorun disk (which will open
in your computer’s browser) as per your office’s request as made this day (the
disk and contents have been scanned by Avast, McAfee, and Norton which I’ve
installed on my computer to prevent viral attacks / infection and are without
threat). I also include 1 copy of the DVD as filed with the subject court as
referenced therein (which files are also included on the aforesaid 3 disks in a
separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re
aware, the RICO Act is a criminal statute which provides a civil remedy,
including treble damages and attorney fees, as an incentive for private
prosecution of said claims probably owing to the fact that the USDOJ seems
somewhat overwhelmed and in need of such assistance given the seriousness and
prevalence of said violations of law which have a corrupting influence on the
process, and which corruption is pervasive). A grievance complaint against Coan
was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the
horizontal rule are the referenced documents as filed. (Owing to the damage to
the financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I
would absent resolution seek to refer the within to a firm with expertise in
that area of the law with which I am not familiar).
The
document in 5 pages under penalty of perjury I was asked to forward to the FBI
office in New Haven is probably the best and most concise summary of the
case RICO Summary to FBI Under Penalty of Perjury at Their Request (5
pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The
correspondence I received from the Congresswoman by way of email attachment
(apparent but typical problem with my mail) along with my response thereto is
included on the 3 disks as
fbicorrespondencereyes.htm . With regard to
the calls to the FBI’s LA and New Haven, CT offices: There was one call to the
LA office and I was referred to the Long Beach, CA office where I personally
met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of
the money laundering which he confirmed as indicative of same (he was transferred
from said office within approximately a month of said meeting and his location
was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron
Barndollar and we remained in touch for in excess of a decade until he abruptly
retired (our last conversation prior to his retirement related to the case and
parenthetically, Rudy Giuliani whose father I stated had been an enforcer for
the mob to which he registered disbelief and requested I prove it, which I did
– he served 12 years in prison, aggravated assault/manslaughter? – and no,
there is no Chinese wall of separation – Andrew Maloney’s the one that
prosecuted gotti).
In
contradistinction to the statement in said correspondence, there is a plethora
of information including evidence supporting the claims set forth in
the RICO VERIFIED COMPLAINT
(see infra). Such includes and as set forth in the case, inter alia,
There is
applicable insurance / surety coverage and neither LA, nor creditors, nor I
should continue to have been damaged by this brazened corrupt and illegal
scenario, which should be resolved in accordance with the meaningful rules of
law apposite thereto.
Sincerely,
Albert
L. Peia
611 E. 5th
Street, #404
Los
Angeles, CA 90013
(213)
219-**** (cell phone)
(213)
622-3745 (listed land line but there are unresolved problems with the line,
computer connection may be the reason but I hesitate to chance greater
non-performance / worsening by their ‘fix’ so cell phone best for
contact).{recent change 323-786-6651 -magic jack}
----------
*The
foregoing and as indicated therein was previously send 9-14-10 but delivery
confirmation was flawed as set forth below and my inquiries to the u.s. postal
service rebuffed (I believe tampered with inasmuch as your office could not
locate same). This cover letter (9-13-10) is on the 3 disks with navigable
hyperlinks to the subject files for ease of reference, including the files in
the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC
Secretary, who indicates once again that your office has not received the aforesaid
and which can reasonably be presumed to have been tampered with, and hence, a
violation of the federal statute concerning same. (Ultimately delivered by UPS)
]
GOOGLE
SEARCH – ‘LARRY KLAYMAN, LOUIS FREEH CORRUPT’
ABOUT 6,240 RESULTS (0.11 SECONDS)
archive.newsmax.com/articles/?a=2000/7/30/211047
Jul 31, 2000 – Judicial Watch is a public-interest
law firm that fights corruption in government. To read Larry Klayman's letter to Louis Freeh, ...
www.judicialwatch.org/archive/newsletter/2003/0203b.shtml
... security," said JW Chairman Larry
Klayman. "His behavior stands in
stark contrast to Louis Freeh, a man so corrupt he destroyed
the office he led, ...
www.freedomwriter.com/issue20/am15.htm
“Louis Freeh will finally have to answer in court for what he did to our clients.
... answers,” stated Judicial Watch Chairman and General Counsel Larry
Klayman. ...
www.infowars.com/jw_transcript.htm
Klayman, Larry, Chairman, Judicial Watch ... My name is Larry
Klayman. ... interest group that
investigates and prosecutes government corruption and abuse. ...... They seized his computer – these are FBI agents at
the direction of Louis Freeh, ...
www.judicialwatch.org/archive/2001/printer_921.shtml
May 3, 2001 – Because of his corrupt behavior, Freeh was placed
on Judicial Watch's ... stated Judicial Watch Chairman and General Counsel Larry
Klayman. ...
www.wnd.com/index.php?pageId=5374
May 27, 2000 – By Larry
Klayman ... While Judicial Watch has asked
FBI Director Louis Freeh to .... lawsuits against a corrupt and unrepentant Clinton-Gore ...
cryptome.org/trulock-v-fbi.htm
LOUIS J. FREEH, in his
personal capacity; NEIL GALLAGHER, in his No. ... COUNSEL ARGUED: Larry E. Klayman, JUDICIAL
WATCH, INC., Washing- ton, D.C. ...
America also leads in the illegal drug trade. In fact,
many researchers reveal that the war on drugs is only utilized to control and
monopolize the illicit drug trade. The US government has been caught
multiple times shipping in
cocaine [ http://www.youtube.com/watch?v=bQvbdiWgwsA , http://www.youtube.com/watch?v=UQNSoOX-dcw&feature=related , http://www.youtube.com/watch?v=gG1Id2qpSOE&feature=related , http://www.youtube.com/watch?v=tIEUhpxeuP4&feature=related , http://www.youtube.com/watch?v=DyM43Sw2OVc&feature=related ] , colluding
with certain cartels [ http://www.americanthinker.com/blog/2011/08/does_mexican_drug_cartel_have_deal_with_us_government.html ] to control
the industry, and now openly protects and transports
opium from Afghanistan [ http://www.youtube.com/watch?v=ElEciFI0Pew ] . In fact, Global Research points out that in 2001, “according to UN figures, opium production had
fallen to 185 tons. Immediately following the October 2001 US led invasion,
production increased dramatically, regaining its historical levels.” This
month, the U.N. announced that Afghanistan now provides 93% of the world’s opium production [ http://www.nytimes.com/2011/10/12/world/asia/un-reports-sharp-rise-in-opium-production-in-afghanistan.html?_r=2&ref=world ] ; up 61% compared
to 2010 to a whopping 5800 tons. Although the empire tries to keep
it secret, they can’t hide the hypocrisy forever. [ website archived
links http://albertpeia.com/uscocainedistributionfiles.htm
http://www.albertpeia.com/todayspage.htm
http://albertpeia.com/todaysbusinesssummarylinks.htm
http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm
http://albertpeia.com/22signsglobalrecessiondepression.htm
Business Summary /
Links
The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Train Reading: The Stock Market Is
(Criminally) Insane The Wall Street Journal , [ECRI Stays with
Recession Call New American | The
vicious cycle is starting where lower sales, lower production, lower employment
and lower income [leads] back to lower sales…BOB
ADELMANN New
American 3-13-12 http://albertpeia.com/ecricallsrecession.htm , STOCKS RALLY DESPITE BAD NEWS: Here's What
You Need To Know Business Insider , http://albertpeia.com/22signsglobalrecessiondepression.htm Both
The Market and Government Are Irrational Paul Craig Roberts | One of the
great economic myths is that markets are rational. Not a day passes without
this myth being disproved scores of times, but the myth persists. [ 3-26-12 As
was so last pre-crash, particularly this election year of desperation, bernanke
resorts to his ‘jaw-boning’ (another dog who made news called this ‘baffling
them with b***s***’); yet, it’s fraudulent wall street that conditions ‘all’ to
believe the easy money / over-printed created Weimar dollars, a clear negative
(you’re paying for the wall street welfare; ie, gas, food, etc., prices { Financial
Crisis Phase II Is Ahead at Forbes Bert
Dohmen ‘ In late
2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred the following year. I
now see a similar confluence of events .. “the new recession has started.”…
Over the past 33 years, we have called the start of every recession..Currently,
the GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore,
what is counted as “growth,” is actually price increases. Actual inflation..is
now more than 11%. Using that to adjust GDP for inflation, would show that the
economy is now in a very sharp contraction…’ }
rallies those pieces of paper/computer
entries via HFT algos programmed to go wild with such talk, making this a great
opportunity to sell, take profits while you can, much worse to come! http://albertpeia.com/10reasonsdollarreservecurrencyending.htm
, I’ve Never
Seen a Confluence of Negative Factors Like This 3-24-12 http://gainspainscapital.com , DAVE FRY IS RIGHT ON THE MONEY HERE! Dave’s Daily: http://www.etfdigest.com BERNANKE IN ABC MODE ON ABC 3-27-12 ‘Sure,
it’s one of my favorite movie scenes and I couldn’t resist it. The Fed is in
full campaign mode as great as Obama and his GOP rivals. When stock prices seem
in doubt the Fed is ready to launch more assurances accommodation (money
printing) will be available. Monday’s rally was typical as we head toward the
end of the quarter. Hedge fund performance fees are on the line and any way to
boost these profits is job one. Top holdings for hedge funds include the usual
suspects: AAPL, IBM, INTC, BAC, DIS, HD etc. With little volume it’s easy for
algos and hedge funds to prop stocks on little hard news. Tuesday we briefly
saw more of this. Just as markets were weakening a story appeared using the
Fed’s favorite oracle, the WSJ, as Fed governor Rosengren
stated, “more stimulus is on the table”. Immediately
HFT algos jumped and markets rose if only briefly.On its face, the Fed wants
higher stock prices to boost confidence in the economy. However from a
practical view ALL THEY’VE SUCCEEDED IN DOING FROM MY
PERSPECTIVE IS DEBASING THE DOLLAR CREATING INFLATION…’ , And 14 of 16 On
Dallas Fed Miss 3-26-12 The Dallas Fed
Manufacturing Outlook just came with its largest
miss of expectations in 9 months - and biggest drop in 7 months.. A 10.8
print vs expectations of 17.0 dropped the index back to its lowest since
December and keeps the 'good is good but bad is better' dream alive..’, Don’t be fooled
by the money illusion MarketWatch | Rising
prices are making some statistics look better than they really are. [ The ‘psychological factor’ has always been
a component in the valuation of securities which valuations, good or ill,
collectively give rise to the ‘markets’. The mythical part is the presumption
of rationality accorded the ‘market-makers’ which, despite their glaring
irrationality and propensity for fraud (I’d conservatively say that wall street
is comprised predominantly, I’d estimate 90%, of psycho/sociopathic
personalities), is still decidedly and pathetically vis-à-vis the rest of the
‘go along to get along’ world, criminally insane wall street. { The frauds on wall street et als should be criminally prosecuted, jailed,
fined, and disgorgement imposed! Train Reading: The Stock Market Is
(Criminally) Insane The Wall Street Journal } It
should be obvious by now, particularly with the advent of ubiquitous, lightning
fast programmed computerization, that the markets are fraudulently manipulated
in a bigger way now than ever; and, not without great cost ultimately to
muppets / taxpayers like you, whether in the markets or not.They do it for the
money; and, sick as they are, to be screwin’ at least someone all of the time
which perversely gives them pleasure! ] This is an especially
great opportunity to sell / take profits with stocks floating on air in
contraindicated ‘Weimar dollar bubble rally’ as preceded last crash. Suckers’
rally into the close off lows and in shades of the dot com bubble with Apple
the fraudulent stock market’s one-trick pony (‘in play’, pricey, big weighting
and big bang for the market buck, and compared to what). Competition will ultimately
(no real breakthroughs on horizon) take a big bite out of the Apple, which
along with price targets is way over valued (currently being manipulated to the
upside by the ‘muppet masters’ given the 20% weighting for maximum fraudulent
effect). I say this despite liking Apple. They’re loving Apple to death on
fraudulent wall street which is a testament to the pathetic state of american
and world technology which is horrendous. As my first computer (Apple IIc,
1986) I’m glad they survived but they’re way, way over-valued. Aside from the
IPAD (at best and even that’s a stretch, and past history at that), there’s
really nothing there, which is a testament to the stupidity of american
consumers particularly. Wake up! What total frauds! 11
Reasons Why America Would Be A Better Place Without Goldman Sachs [ If only
it was just 11 and not an endless number of reasons why the aforesaid is true!
And, though america particularly, not just america, but the entire world as
well! ] http://albertpeia.com/americabetterwithoutgoldmansachs.htm
, Guest
Post: Money from Nothing - A Primer on Fake Wealth Creation and its
Implications (Part 2) ZeroHedge.com 3-14-12 ‘Only in a debt-based money system
could debt be curiously cast as an asset. We’ve made “extend and pretend” a
quaint phrase for a burgeoning market for financial lying and profiteering
aimed toward preventing the collapse of a debt- (or lack-) based system that
was already doomed by its initial design to collapse.’ Election year temp jobs,
trade deficit up, GDP projection down, business inventories miss,
manipulations, obfuscations… Dave’s Daily: http://www.etfdigest.com STOCK RALLY FADES WITH CDS ISSUE 3-9-12 [ Dave astutely points out: “Jobless Claims
Thursday were weaker than expected (362K vs 351K expected and prior revised
higher to 354K). Did you know that prior weekly Jobless Claims data has been
revised higher
100% of the time over the past two years? How does that happen this
consistently?” – Which I refer to as the ‘data ponzi scheme’ wherein new fake
data is used to buoy markets as prior reported fake data is reconciled closer
to reality. 3-15-12 Yes, and again, prior week revised up . ] Does
China's Forex Policy Beggar Its Neighbors? The Wall Street Journal [ Are you sure the author didn’t mean ‘bugger
its neighbors’? Sounds like it; but, it’s really all about cost structures
which are far less in China which is the primary reason for China’s export
success. Manipulation of currencies is an artifice that the west will
ultimately prove does not work at all (all that over-printing / creating of
fiat Weimar paper currencies is a time-tested loser).]Rumor planted by fed of QE3 light spurs rally, not the fake, uneconomic
jobs estimate from jersey adp for election year spin purposes which only fools
believe. How desperate and pathetic! For those who think this money-printing out of
thin air is without cost, you’re in for a worse than rude awakening. The global
markets have become a joke! This is a ‘full press’ as in ‘fiat paper printing
presses in overdrive’ debased Weimar dollars / currencies that will end quite
badly so take this opportunity to take profits while you can. The manipulated,
contrived, and fake data has all been unaffordably ‘electioneared’ for
‘electionyeared’ spin and propaganda. Don’t be their fool! The full moon
previously helped keep the contraindicated lunatics’ huge suckers’ rally going
with across the board media et als complicity (infra). But not quite … reality
(will) catch(es) up … you know the drill … typical suckers’ surge into the
close off lows, etc.. Today’s data looked pretty bad to me, even with the
manipulations/spin otherwise, ie., Durable
goods orders drop by most in 3 years
AP , etc.. Then there
was previously the manipulated revision to make this month’s distressed,
foreclosure sales (backlog) look better. Total scam! This will all end quite
badly and is much like the ‘floating on air’ stock price scenario that preceded
the dot.com and most recent, continuing debacles. { http://albertpeia.com/todaysbusinesssummarylinks.htm
- today’s business summary links only, by day – scroll down as well for
today’s links and for more complete context – Encouraged and recommended! } This
global suckers’ rally is based on market frothing hopium for unaffordable,
contraindicated, failed QE/wall street only welfare (which is being injected
sub rosa, see infra), bad news, fraud, b***s***, and
desperation alone, as suckers’ rallies ushered in the new year in a most
preposterous fashion [Forget the “January Effect”… Instead Skousen
http://www.investmentu.com/2010/December/january-effect-vs-siegel-indicator.html http://albertpeia.com/forgetthejanuaryeffect.htm , INVESTORS, SKIP THE 'JANUARY INDICATOR' FOR
STOCKS Jan. 26, 2012 Mark Hulbert [ the frauds on wall street still shootin’
for the superstitious so-called ‘January effect’ based on based on
market frothing hopium for unaffordable, contraindicated, failed QE/wall street
only welfare, bad news, fraud, b***s***, and
desperation alone to suck suckers in and keep suckers sucked in! Don’t be their
fool! Mohammed El Erian gets this and to Frank Motek 1070am relates that he’s
using the up moves to reduce risk assets / stocks / exposure, in other words,
he’s selling the rallies which is sound advice [3-12-12: I’ve previously
recommended this business report; but, like everything in america, it’s gotten
so bad as in the first 30 minutes I calculated approximately 6 minutes of
business report and the balance predominantly advertising and some cbs network
stuff before I had to turn it off – I might listen again in a year, if at all.
Terrible! ]. The fundamentals/realities, current and prospective, are worse
than ever. There are no systems/formulas for these unprecedentedly dire times.
Don’t be their sucker! This is an especially great opportunity to sell / take
profits because there’s much, much worse to come! Here’s a simple chart of the
Dow’s history http://albertpeia.com/dowjonesindavghistory.htm . Keep in mind how lowly the dollar’s become
in terms of purchasing power and relative to metals as ie., gold, etc.. Don’t
be scammed by the frauds on wall street, et als.] with lingering intoxication
an explanation as the printing presses and issuance of worthless insurmountable
debt paper are in full throttle globally (a testament to global blindness as
the blind follow the blind) making this impending disaster at this time an
especially great opportunity to sell / take profits because there’s much, much
worse to come! jersey-lautenberg based adp with 100% better than expectations
private sector jobs number? Nobody thinks so (infra)! Scandal scarred commerce
department data? Labor dept. ue claims / ue numbers? Only a fool believes what
they say! ( After One Month Respite, Pink Slips Are
Flying Again Durden , Lies, Damned Lies, and (Unemployment)
Statistics Mac Slavo | The actual unemployment rate in the United States is in excess of
22%. , NFP Payrolls At 200K, Expected At 155K;
Unemployment Rate Drops To 8.5%, Labor Force Participation At Lowest Since 1984 Durden
on 01/06/2012 .. Yet the unemployment rate trickery still
continues, with labor force participation (prior revised), now at a 27 year low
of 64%, and the labor force itself declined by 50K from 153,937 to 153,887. In fact, persons
not in the labor force have increased by 7.5 million since January 2007! Bottom line - dropping out of labor statistics is the new killing
it. http://www.albertpeia.com/laborparticipationrate.jpg
, ) The same for the conference board which
came in with 100% better than expected consumer confidence, which is
preposterous even taking into consideration the ‘ultimate bootstrap’ bubble
stock price weighting in same. The lack of ‘politicians’ at
S&P/Case/Shiller showed a different picture: ’house prices in
20 major metropolitan areas declined 1.2 percent on an unadjusted basis in
October after falling 0.7 percent the prior month’. ( US Economic Data Reporting Now Officially A
Farce: Every Economic Data Point Prints 4+ Std Devs Above Consensus
Zero Hedge ) Watch for more fake reports / data / and spin in their infinite political
desperation both here and across the sea, and suckers’ rallies to suck suckers
in and keep suckers sucked in! [ ‘The Currency Wars’ http://www.albertpeia.com/rickardsgrantboltoninterviewvideo.htm , David Rosenberg On The Depression, The ECB,
MF Global As A Canary In The Coalmine... All With A Surprise Ending Durden, This is No Cyclical Recession… It is a
Secular DE-pression Phoenix Capital , MF
GLOBAL EXPLAINED http://www.youtube.com/watch?v=jLt05sN7vK0&feature=player_embedded [causal links between OTC derivatives, the
financial crisis of 2008, Alan Greenspan, Robert Rubin, Larry Summers, Jon
Corzine and MF Global, ‘Quantitative Easing Explained’ http://www.youtube.com/watch?v=PTUY16CkS-k , ’ Famed
economist predicts economic calamity in 2012. See the evidence.
http://w3.newsmax.com/a/aftershockb/video.cfm 50%
unemployment & 90% Dow crash also predicted. Newsmax ,
Economic / Financial Collapse Imminent – Stansberry Investment Advisory http://www.albertpeia.com/stansberrysinvestmentadvisory.flv Harry Dent, Jr.
Economy will be in a Depression by 2011 Dow
will Fall to 3,800 – 4,500 by 2012 Nasdaq
will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest. U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels Greatest Economic and Banking Crisis since the
1930s will Occur Between 2010 and 2012). , ‘…technical
pattern is predicting the S&P plunges to 935Bank of America via Zero Hedge Mary Ann Bartels, Bank of America's Head of
Technical and Market Analysis , 935 is nothing; the S&P 500 will
crash to 579.57United-ICAP's Walter Zimmerman
(via WSJ's Tom Kilgore) is a technical
analyst who has been looking at the charts and they're telling him that the
S&P is headed for 579.57…’ , The Financial Crisis Of 2008 Was Just A Warm
Up Act For The Economic Horror Show That Is Coming http://theeconomiccollapseblog.com
http://albertpeia.com/2008crisisjustwarmupforcomingcollapse.htm
Why earnings will continue to decline MarketWatch , 10 Things That Every American Should Know
About The Federal Reserve
Eco.Coll.Blog http://albertpeia.com/10thingsmustknowaboutfedreserve.htm #1 The Federal
Reserve System Is A Privately Owned Banking Cartel #2 The Federal Reserve
System Is A Perpetual Debt Machine #3 The Federal Reserve Has Destroyed More
Than 96% Of The Value Of The U.S. Dollar #4 The Federal Reserve Can Bail Out
Whoever It Wants To With No Accountability #5 The Federal Reserve Is Paying
Banks Not To Lend Money #6 The Federal Reserve Creates Artificial Economic
Bubbles That Are Extremely Damaging #7 The Federal Reserve System Is Dominated
By The Big Wall Street Banks #8 It Is Not An Accident That We Saw The Personal
Income Tax And The Federal Reserve System Both Come Into Existence In 1913 #9
The Current Federal Reserve Chairman, Ben Bernanke, Has A Nightmarish Track
Record Of Incompetence #10 The Federal Reserve Has Become Way Too Powerful , A Warning Sign For The World
http://albertpeia.com/warningsignfortheworld.htm
Any financial system that is based on debt is doomed to fail. Today, we
are living in the greatest debt bubble that the world has ever seen … , Despite Two Thirds Of Components Declining,
Empire Fed Prints At Highest Since June 2010 ZeroHedge | Chalk this one to “seasonal
adjustments” or something, cause we no longer have any clue what is going on
with the data fudging in America. , 20 Signs You Might Be A Typical American
Worker http://albertpeia.com/20signsoftypicalamericanworker.htm
, 10
Signs That America Is Decomposing Right In Front Of Our Eyes http://albertpeia.com/10signsamericadecomposing.htm
, 8
Reasons Why The Greek Debt Deal May Not Stop A Chaotic Greek Debt Default http://albertpeia.com/8reasonsgreekdebtdefaultstillcoming.htm
, 55
Interesting Facts About The U.S. Economy In 2012 http://albertpeia.com/55factsaboutus2012economy.htm
‘How is the U.S. economy doing in 2012? Unfortunately, it is not doing
nearly as well as the mainstream media would have you believe. Yes,
things have stabilized for the moment but this bubble of false hope will not
last for long. The long-term trends that are ripping our economy and our
financial system to shreds continue unabated. When you step back and look
at the broader picture, it is hard to deny that we are in really bad shape and
that things are rapidly getting worse. Later on in this article you will
find a list of interesting facts that show the true state of the U.S. economy…
, http://albertpeia.com/debtpercapita.jpg , Double-dip recession setting in across eurozone: EU Thomson | AFP , America 1950 vs.
America 2012 http://albertpeia.com/downhillslideofamerica.htm
, Society’s
Five Stages of Economic Collapse http://albertpeia.com/5stagesofcollapse.htm
David Meyer shtfplan.com March 1, 2012
, No
Housing Recovery - Case Shiller Shows 8th Consecutive Month Of House Price
Declines Durden
2-28-12 Little that can be added here. The December
Case Shiller came, saw, and shut up all those who keep calling for a home
price recovery. The Index printed at 136.71 on expectations of 137.11, with the
prior revised to 138.24. The top 20 City composite was down -0.5% on
expectations of a 0.35% drop. 18 out of 20 MSAs saw monthly declines in
December over November… , Goldman:
Germany Is Now On The Hook By €1 Trillion (Or 40% Of GDP) Durden, , 20
Economic Statistics To Use To Wake Sheeple Up From Their Entertainment-Induced
Comas http://albertpeia.com/20ecostatstowakesheeple.htm , Central
bank balance sheet expansion since end 2007
Mar 1st, 2012 by News
(ZeroHedge) — SNB +230%; Fed +222%, BOJ +125%, BOE +87%, PBOC +93%, ECB +51%.
USA Gold / PG View: Pretty strong evidence that the rally
in bonds — and by extension the rally in stocks — is nothing but a charade. , 10.7
Percent: Unemployment In Europe Is Worse Than It Was At The Peak Of The Last
Recession http://albertpeia.com/europeunemploymentworsethanrecession.htm
The unemployment rate in the eurozone is now 10.7 percent. That is the
highest the unemployment rate has been since the introduction of the
euro. The unemployment rate in the eurozone never got any higher than
10.2 percent during the last recession. This is very troubling
news. It was just recently announced that the eurozone has entered another
recession, and already the unemployment rate is hitting new record highs… ,
Inflation
Is A Tax And The Federal Reserve Is Taxing The Living Daylights Out Of Us http://albertpeia.com/inflationisatax.htm , Guest
Post: Cause, Effects & The Fallacy Of A Return To Normalcy Durden
3-6-12, Market Takes First Big Loss Of 2012 As Investors Eye Greek Debt
Swap Forbes , 15
Potentially Massive Threats To The U.S. Economy Over The Next 12 Months http://albertpeia.com/15massivethreatstoeconomy.htm
, 1
Through 30 – The Coming U.S. Financial Crisis By The Numbers http://albertpeia.com/1-30usfinancialcrisiscoming.htm
, Gallup
Finds February US Unemployment Jumps Most Since 2010, Third Consecutive Monthly
Increase Durden
3-8-12 , Initial
Claims Miss Expectations, Rise For Third Consecutive Week For First Time Since
August 2010 Durden
3-8-12 , Greece
Has Defaulted - Which Country In Europe Is Next? http://albertpeia.com/greecehasdefaultedwhonext.htm , Five
Charts That Prove We’re in a Depression and That the Federal Reserve and
Washington Are Wasting Money March 12, 2012
By gpc1981 http://albertpeia.com/usindepressionfedandgovwastingmoney.htm , Broken
Promises: Pensions All Over America Are Being Savagely Cut Or Are Vanishing
Completely .. this exact scenario is
playing out from coast to coast and in the years ahead millions of elderly
Americans are going to be affected by broken promises and vanishing pensions.. http://albertpeia.com/uspensionscutorvanishing.htm , America
Is Being Transformed From A Wealthy Nation Into A Poor Nation At Breathtaking
Speed America is losing wealth far
faster than any other nation on earth is. http://albertpeia.com/ustransformedfromwealthytopoor.htm
, As
US Rakes Largest Monthly Deficit In History, 2012 Tax Revenues Net Of Refunds
Trail 2011 Durden
3-12-12 , Guest
Post: The Audacity of Bonuses At MF Global Durden
3-12-12 In the spirit of George Orwell’s Animal Farm commandment: “all animals are equal, but some
animals are more equal then others” comes the galling news that bankruptcy
trustee, Louis Freeh, could approve the defunct, MF Global to pay bonuses to
certain senior executives. This, despite the fact that nearly $1.6 billion of
customer funds remains “missing” or otherwise partially accounted for, yet
beyond the reach of those customers, perhaps forever, since before the firm
declared bankruptcy on October 31, 2011... , 11
Reasons Why America Would Be A Better Place Without Goldman Sachs [ If only
it was just 11 and not an endless number of reasons why the aforesaid is true!
And, though america particularly, not just america, but the entire world as
well! ] http://albertpeia.com/americabetterwithoutgoldmansachs.htm
, S&P
Says Improbable Any Economic Improvement Would Bring Back AAA US Rating Durden 3-15-12 Sigh: *S&P says that
it is impossible that any economic improvement would bring back the AAA rating
*US deficit progress is needed. *Outlook remains negative.- And what do stocks
do on latest S&P report that America is broke? Why they surge of course....
, The
U.S. Economy: Soul Crushing Total System Failure http://albertpeia.com/ustotalsystemfailure.htm
, Kass:
The Market Is Overvalued at
TheStreet By Doug Kass { Yes, this is true;
but, he’s still too optimistic in that he doesn’t point out that the election
year manipulations / obfuscations will cause things to end far worse than his
anticipation. } , An Open Letter to All
Presidential Candidates March 19, 2012
By gpc1981 http://albertpeia.com/grahamsummerswarnings.htm
, Ben
Bernanke Tries To Convince America That The Federal Reserve Is Good And The
Gold Standard Is Bad http://albertpeia.com/benbsshalombernankesellsfedpansgoldstandard.htm
[ greenspan and now bernanke are incompetent and total failures creating and
exacerbating current and prospective conditions for the sake of fraudulent wall
street at everyone else’s expense! ] , 10
Signs That America Is On The Verge Of A Horrible Municipal Debt Crisis http://albertpeia.com/americanmunicipaldebtcrisis.htm , Bursting
The Permabullish Bubble: 11 Out Of 13 Economic Indicators Have Missed Durden 3-22-12 , Corzine
Corzined - Congressional Panel Finds Former MF Global CEO Ordered JPM Fund
Transfer Durden
3-23-12 [ ‘Jon S. Corzine, MF Global Holding Ltd.’s chief executive
officer, gave “direct instructions” to transfer $200 million from a customer
fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase
& Co. accounts in London, according to an e-mail sent by a firm executive.
Edith O’Brien, a treasurer for the firm, said…’] , TBTF
Get TBTFer: Top 5 Banks Hold 95.7%, Or $221 Trillion, Of Outstanding
Derivatives Durden
3-26-12 , 10
Reasons Why The Reign Of The Dollar As The World Reserve Currency Is About To
Come To An End http://albertpeia.com/10reasonsdollarreservecurrencyending.htm
, Dave’s Daily: http://www.etfdigest.com BERNANKE IN ABC MODE ON ABC 3-27-12 ‘Sure,
it’s one of my favorite movie scenes and I couldn’t resist it. The Fed is in
full campaign mode as great as Obama and his GOP rivals. When stock prices seem
in doubt the Fed is ready to launch more assurances accommodation (money
printing) will be available. Monday’s rally was typical as we head toward the
end of the quarter. Hedge fund performance fees are on the line and any way to
boost these profits is job one. Top holdings for hedge funds include the usual
suspects: AAPL, IBM, INTC, BAC, DIS, HD etc. With little volume it’s easy for
algos and hedge funds to prop stocks on little hard news. Tuesday we briefly
saw more of this. Just as markets were weakening a story appeared using the
Fed’s favorite oracle, the WSJ,
as Fed governor Rosengren stated, “more
stimulus is on the table”. Immediately HFT algos jumped and markets rose if
only briefly.On its face, the Fed wants higher stock prices to boost confidence
in the economy. However from a practical view all they’ve succeeded in doing
from my perspective is debasing the dollar creating inflation. The latter will
be a problem for the next administration and even the current generation. It’s
an all about “now” market in a politically charged year… , Bernanke
Claims That The Fed Has Averted A Second Great Depression By Bailing Out The Too
Big To Fail Banks http://albertpeia.com/weareinsecondgreatdepression.htm [ To the contrary, because of his policies and
particularly the bailouts which facilitated consummation of and even greater
frauds, the real economy, the nation, taxpayers will suffer a more severe fate
than even that obfuscated by bad policy in this election-year expedience! ‘…
When the last financial crisis began, the U.S. national debt was about 10 trillion
dollars. Today, it has risen to 15.5 trillion dollars. So Bernanke did not fix
anything. The best that can be said is that he kicked the can down the road a
little bit and made our long-term financial problems a lot worse at the same
time. Bernanke can create money out of thin air and loan it to his friends all
he wants, but he is not going to be able to prevent this house of cards from
crashing down…’ . He’s as much a fraud and incompetent bozo as ‘his buds who
put him there’ for their purpose / benefit. The guy’s a dope http://albertpeia.com/30bunglebenbernankequotes.htm , a fool which fact is lost on no one
vis-à-vis the debased Weimar dollar http://albertpeia.com/10reasonsdollarreservecurrencyending.htm ,
who’s delusional http://albertpeia.com/bunglerbenfedfedsfailure.htm . He’s a
total fraud! ] , Graham
Summers’ Weekly Market Forecast (a tenuous balance) March 27, 2012
By gpc1981 ‘…big trouble is lurking just beneath the
surface. And should anything upset the current balance being maintained, we
could see some real fireworks in the markets in short order.Indeed, we are
facing a confluence of negative factors regarding Europe (political, monetary,
fundamental, and technical) that indicate BIG TROUBLE could be hitting in
May-June …’ , SkyNet
Wars: How A Nasdaq Algo Destroyed BATS Durden
3-27-12 (What really happened is
that a malicious, 100% intentional Nasdaq algorithm purposefully
brought BATS stock to a price of 0.00 within 900 millisecond of the company's
break for trading!) Following the May 2010 flash crash, the
investing public hoped that as part of its "exhaustive report", the SEC
would find and hold responsible the various components of a broken market
structure, be it HFTs, ETFs, stubbing and sub-pennying algorithms, and all the
other knowns and unknowns we have covered over the years. Instead, in what
would prove to be a move of cataclysmic stupidity (if sadly understandable -
the SEC, like everyone else "in charge" is used to dealing with a
gullible and simplistic public, which has no access to the real data and
analysis, and whose opinion could be easily manipulated, at least until now),
the regulator blamed and scapegoated it all on a Waddell and Reed trade (we
wonder just what the quid pro quo was to get the asset manager to roll over and
take the blame despite protestations to the contrary, at least in the
beginning). The result was that the same investing public realized that market
structure is so corrupt, and so robotically mutated, there is no place for the
small investor in this broken market. Last week's BATS IPO fiasco merely
confirmed this. And as usual, BATS (whose chairman
Ratterman has just been demoted even as he stays on as CEO) decided to take
the "passive voice" approach and blame it all on a faceless, emotionless,
motiveless "software
glitch"… What happened is that
a malicious, 100% intentional Nasdaq algorithm purposefully
brought BATS stock to a price of 0.00 within 900 millisecond of the company's
break for trading! This is open SkyNet warfare.’ , This Is The
World's Balance Sheet Durden
3-27-12 It is rather surprising
that in a world in which anything and everything is only about money, it is
next to impossible to find a consolidated balance sheet of the world's
insolvent economies (i.e., the developed countries: US, Japan and the Euro
Area). So for all those seeking a visual presentation of all the liabilities
that have to be inflated away by the central banks (because that's what this is
all about), rejoice: the broke world is
presented below in its glory. The irony is that the problem
would be quite fixable if it weren't for one minor issue: the bulk of the world's assets also happen to be its
liabilities! At the end of the day, this may prove to be the
fatal flaw in the chairman's attempt to dilute the global liabilities, he will
be doing the same with the assets. , Six
Variations On A Theme By Printerini Durden
3-27-12 A prevalent theme over the past 3 months has been the emergence
of the Schrödinger world, where on one hand we have a world as it is, and on
the other, as central planners, propaganda media, and a president caught up in
a reelection campaign would want it to be.
Luckily, that world
only had a binary bifurcation associated to it - and a simple observation of
the mythical collapsed its wave function in less time than it would take BATS
to commit corporate suicide. A much more fun world emerges when one
enters the superstring reality of the Federal Reserve, and especially its chairman,
where there are not two, not three, but a whopping six dimensions of
(mis)perception, all dependent on one's point of view. Courtesy of market afloat "The fact that the Fed can,
if it chooses, intervene without limit into any credit market - raises more
uncertainty, and of course raises
questions about why an independent agency of government should have such power."
, CTRL+SPIN
3: The Fed Propaganda Tour Live Re-Educates Us On Their Response To The
Financial Crisis Durden
3-27-12 UPDATE (via
Bloomberg): *BERNANKE: `FORCEFUL' RESPONSE PREVENTED WORSE RECESSION and AIG
HAS STABILIZED - phewee... [Yes, indeed; this b***s*** is now beyond the pale!
]Today could be the day when all your beliefs and misconceptions of the great central
banking machine are set straight. After explaining to us in the previous two
lecture how the gold standard is just silly, why central banks are
constitutionally awesome, and how the Fed almost single-handedly created the
Sandusky was
labeled 'likely pedophile' in 1998...
'Cracker'
T-shirt hits Florida streets...
COPS:
Zimmerman says Trayvon decked him with one blow then began hammering his head
on sidewalk...
'Suffered
broken nose and had injury to back of head'...
Martin had
been suspended from school for marijuana...
Black Panthers
offer $10,000 bounty for 'capture' of Trayvon Martin's killer … [ who do these
filthy niggers think they are? ] Take a look at this nigger who kills a white
man during robbery, without any provocation from the victim ... http://albertpeia.com/typicalblackmanonneighborhoodwatch.htm
Shooter of
Florida teen not a racist, lawyer says...
SECRET
WITNESS: Self-defense... [Witness:
Martin attacked ZimmermanUpdated: Monday, 26 Mar 2012, 2:57 PM EDT
ORLANDO - A witness we haven't heard from before paints a much different
picture than we've seen so far of what happened the night 17-year-old Trayvon
Martin was shot and killed.The night of that shooting, police say there was a
witness who saw it all.Our sister station, FOX 35 in Orlando, has spoken to
that witness.What Sanford Police investigators have in the folder, they put
together on the killing of Trayvon Martin few know about.The file now sits in
the hands of the state attorney. Now that file is just weeks away from being opened
to a grand jury.It shows more now about why police believed that night that
George Zimmerman shouldn't have gone to jail.Zimmerman called 911 and told
dispatchers he was following a teen. The dispatcher told Zimmerman not to.And
from that moment to the shooting, details are few.But one man's testimony could
be key for the police."The guy on the bottom who had a red sweater on was
yelling to me: 'help, help…and I told him to stop and I was calling 911,"
he said.Trayvon Martin was in a hoodie; Zimmerman was in red.The witness only
wanted to be identified as "John," and didn't not want to be shown on
camera.His statements to police were instrumental, because police backed up
Zimmerman's claims, saying those screams on the 911 call are those of Zimmerman."When
I got upstairs and looked down, the guy who was on top beating up the other
guy, was the one laying in the grass, and I believe he was dead at that
point," John said.Zimmerman says the shooting was self defense. According
to information released on the Sanford city website, Zimmerman said he was
going back to his SUV when he was attacked by the teen.Sanford police say
Zimmerman was bloody in his face and head, and the back of his shirt was wet
and had grass stains, indicating a struggle took place before the shooting.’ ] Trayvon Martin shooter: Teen went for my gun
Former
NAACP leader accuses Sharpton, Jackson of 'exploiting' Trayvon Martin...
'His
family should be outraged'...
Mother seeks
to trademark dead son's name …[ For what? Trayvon hoodies? ]...
Many wear
hoodies as churches remember Trayvon...
STUDY: Earth
heated up in medieval times -- before human CO2 emissions...
Fourth
Largest Gun Maker In US Is Out Of Guns Durden
3-23-12 In a somewhat sad and shocking slap of reality… , Goldman
Skewers Muppets Again: Worst Week For Stocks, Best for Long End Bonds Durden 3-23-12 While stocks staged an
'interesting' recovery this afternoon, it was not enough to save them from a
fate-worse-than-death - a red-weekly-close! The only (and therefore) largest
drop in the S&P 500 of the year (after GS long stocks call) was
dominated (beta-adjusted) by the largest 30Y Treasury yield
improvement of the year (after GS said get short Treasury futures). It
seemed we reverted to good-is-good, but bad-is-better trading this afternoon , BATS Withdraws IPO Durden
3-23-12 , Where Did All
The Money Go? Here! Durden
3-23-12 … could quickly get very hot on the
inflationary front.. , Guest
Post: Its A Dead-Man-Walking Economy Durden
3-23-12 In an interview with
Louis James, the inimitable Doug Casey throws cold water on those celebrating
the economic recovery. "Get out your mower; it's time to
cut down some green shoots again, and debunk a bit of the so-called recovery." , Merkel
Goes Braveheart: Debt 'Can' Take Our Freedom , Guest
Post: About That $20 Trillion In Public Debt... Durden
3-23-12 In only three more years you're talking $20
trillion in public debt for the USA and a GDP going nowhere fast. Add to
this that demographics are not encouraging and taxes of
all sorts will have to rise. Cuts will be symbolic because the political pain
will be unbearable. Without productive new investment, then debt service soon
outstrips income growth and the economy enters a death
spiral of declining productive investment, ever expanding
debt and ever higher debt service costs. , Please
Highlight The Housing Recovery On The Following Chart
Durden
3-23-12 ...of New One Family Homes for 300,000, 250,000, 200,000, 150,000...
0" does not work with us. , BATS
Exchange Declares Self-Help Against... Itself; Trading Halted "Until
Further Notice" Durden
3-23-12 SkyNet
Is Now Cannibalizing Itself: BATS IPO Flash Crashes , New
Home Sales Make It 12 Out Of 14 Economic Misses , Jeff
Saut's Permabullishness Just Cost Raymond James Hundreds Of Thousands In Lost
Revenue , Eurosis
Is Back As "New" Greek Bonds Break 20%, Slide 14% In 2 Days , Gold
in Q2 +15% To $1,850/oz On Inflation and Currency Debasement - BARCAP , Selloff
Resumes As "Risk Off" Sentiment Refuses To Leave , Dave’s Daily: http://www.etfdigest.com MARKETS REBOUND TO CLOSE LOSING WEEK
3-23-12 ‘Fed governors are out on the stump making speeches and arguing
publicly regarding current and future monetary policy. Fisher says no more QE
as does Lockhart (for now). Meanwhile, Bullard and Evans want QE now. Bullard’s
comments were interesting since it seemed he wanted QE now based on what he
perceives as weakening inflation.Most market moving news Friday was negative
frankly.
Infographic:
Reevaluating The Costs And Benefits Of (Debt Bubble-Funded) Higher Education Durden 3-19-12 While the college debt
bubble has been extensively discussed on Zero Hedge (here, here
and here)
and elsewhere, the reality is that without college student loans, as cheap as
they may be, the vast majority of students would not be able to afford going to
college, untenable (and non-dischargeable)
post-graduation leverage be damned. Please ignore for a second the reflexivity
of this symbiotic relationship - that college is so expensive only because college debt is so easily
obtainable (and as noted
here, between car loans and student debt, is the primary source of consumer
debt in the past year)... , To
Bail Or Not To Bail: A Simple Question Of Math; And Why Taxpayers Will Be On
The Hook Until The End Durden
3-19-12 When it comes to rescuing an insolvent country, continent, or
entire financial system, at the end of the day it is a simple question of
maths: is "doing it" cheaper
than the alternative. Recall that the IIF
was heaping fire and brimstone on bondholders and threatening the world
with $1+ trillion in losses if bondholders did not comply. That nobody has any clue just what said
costs, and opportunity costs, are, does not matter: the status quo must be
preserved at all costs. And the status quo is one of avoiding private losses at
the expense of taxpayer capital. Enter Credit Suisse with its back of the
envelope analysis of the cost of not bailing out
Apple
Weakness Due To Removal From Deutsche Bank Short-Term Buy List Durden 3-15-12 , Spanish
Housing Re-Plunging
Durden 3-15-12
, The
"New Normal" American Dream Of Renting Is About To Become Very
Expensive
Durden 3-15-12 , Goldman
Again Selling Russell 2000 To Muppets Durden
3-15-12 , Both
The Market and Government Are Irrational Paul Craig Roberts | One of the
great economic myths is that markets are rational. Not a day passes without
this myth being disproved scores of times, but the myth persists. [ The
‘psychological factor’ has always been a component in the valuation of
securities which valuations, good or ill, collectively give rise to the
‘markets’. The mythical part is the presumption of rationality accorded the
‘market-makers’ which, despite their glaring irrationality and propensity for
fraud (I’d conservatively say that wall street is comprised predominantly, I’d
estimate 90%, of psycho/sociopathic personalities), is still decidedly and
pathetically vis-à-vis the rest of the ‘go along to get along’ world,
criminally insane wall street. , 80
Percent Of Americans Say That They Are Not Better Off Than They Were Four Years
Ago http://albertpeia.com/80percentamericaworsethan4yearsago.htm
, Doomsday
Survey: 51% of Americans Believe a Financial Collapse Is Imminent Mac Slavo | Most of us believe a
doomsday scenario of some kind will occur in the next twenty five years. , Philly
Fed Is Out With Latest "Schrodinger" Economy Print Durden 3-15-12 Remember
when the Chinese PMI posted both a contraction an expansion for the month of
March, with Markit showing a sub-50
contractionary print, while the Chinese version showed 51, or expansion, in
other words China was both stagnating
and growing at the same time, merely the latest indication of
our modern day Schrodinger-ness macro insanity? Well, we just got the US
version of this Heisenberg Economic Uncertainty principle, when as part of the
just released
Philly Fed index (which also printed
better than expected despite a drop in New Orders and Shipments), we saw Priced
Paid.... tumble from 38.7 to 18.7!!?? Why the surprise? Because 90 minutes
prior to this, we just got The New York Fed telling the world that prices paid
in fact soared
by virtually the highest amount in real terms on record! In other words, in
The
Real Problem At Goldman Sachs? You, The Muppet Client Forbes , Guest
Post: Money from Nothing - A Primer on Fake Wealth Creation and its
Implications (Part 2) ZeroHedge.com 3-14-12 Only in a debt-based money system could debt be
curiously cast as an asset. We’ve made “extend and pretend” a
quaint phrase for a burgeoning market for financial lying and profiteering
aimed toward preventing the collapse of a debt- (or lack-) based system that
was already doomed by its initial design to collapse. , The
Big Fat Greek Lie Is Now Obvious to Spain… So Who’s Next to Default? March 15, 2012 By gpc1981 http://gainspainscapital.com
‘The big fat Greek lie being spread throughout the financial community is that
‘Well,
it is official. The restructuring deal between market economy remains mired in a low
quality (“first-fired, first-hired categories rather than the type of core
hiring that would build a stronger foundation for income growth,” as
FTN's Jim Vogel describes it) recovery. About 160k of private jobs added in Feb are
'low-paying work' which left
average hourly earnings up only 0.1% (notes David Ader at CRT) - hardly the
recipe for a sustainable recovery and perhaps the slow leak in stocks post the
number is the rude awakening to that reality. As w enoted before, "not
only is America slipping ever further into a state of permanent
"temp job" status, but that a "quality analysis" of the
jobs created shows that the US job formation machinery is badly hurt, and just
like the marginal utility of debt now hitting a critical inflection point, so
the "marginal utility" of incremental jobs is now negative" , US
Trade Balance Worst In 39 Months With Largest 3 Month Drop In 20 Years
Durden 3-9-12 , NFP
Prints At 227K On Expectations Of 210,000, Unemployment Rate At 8.3% Boosted By
Temp Jobs Durden 3-9-12 , Import surge sends China trade to decade-deep deficit , Dave’s Daily: http://www.etfdigest.com STOCK RALLY FADES WITH CDS ISSUE 3-9-12 ‘The all-important Employment Report was
positive beating estimates but was lower than previous reports (227K new jobs
vs 210K expected & prior revised higher 284K: unemployment rate unchanged @
8.3%). Under the radar screen were Business Inventories missed (.4% vs .6%
expected & 1% prior), and the Trade Deficit worsened (-$52.6B vs $-50.4B).
The latter was caused by petroleum which will heighten domestic energy policy
debates. The trade report caused Goldman Sachs (GS) to lower GDP estimates to
1.8% as if anyone cared. “Soon or late, everyone sits down to a
banquet of consequences.”Robert Louis StevensonStevenson’s quote reminded markets late the Greek
default (structured or otherwise) has triggered CDS
(Credit Default Swap) events. Some major investment banks (you know, the
usual suspects) have underwritten and sold these products for generous fees.
Now it’s time to pay the piper. , Unpopular but True - The Larger Bear Market Still Looks Intact , Jobs
Data Improve, but Growth Picture Darkens The Wall Street Journal , Train
Reading: The Underlying Trouble With the Jobs Report The Wall Street Journal-Stephen Grocer , Jobs report shows unemployment
steady, but there’s underlying trouble — Zachary
Karabell , Iceland
calls its former PM to account for financial crash Esther Addley | Haarde is to date the only politician anywhere in
the world to face criminal charges over the financial crisis., GE’s
Immelt: Global Economy In ‘New Era’ Of Instability wsj.com | Expects interest rates to stay low for an extended
period. , U.S. Still Down 6
Million Jobs smartmoney.com | Damage
to employment done by the Great Recession is still far from repaired. , Gallup:
Unemployment Jumps 0.5 Percent in February
, D.R. Horton: Bear Expects Stock's Rally To Snap The Wall Street Journal , U.S. Unemployment Up in February
Mar 8th, 2012 , ECB Sees Shrinking Euro
Zone Mar 8th, 2012 0 (The Wall Street Journal) — The European Central Bank
Thursday admitted that the euro-zone’s economy is likely to contract this year,
and that inflation will outstrip the bank’s medium target…, Mr.
Market: Get It Through Your Head, The PSI DOESN’T Matter March 9, 2012 By http://gainspainscapital.com ‘I don’t
know how many times I have to say this, but I’m saying it again.Greece and the
Euro are finished. The math is impossible. There is no way on earth that this
Second Bailout accomplishes anything worthy of note. The idea that this country
will somehow return to economic growth within two years, based on an additional
€130billion in bailouts is outright insane.Remember, Greece already received
€110 billion in bailout funds in 2010… and still posted GDP growth of -4.5% in
2010 and -6.8% in 2011.
‘‘We live in a world that is becoming
increasingly unstable, and the potential for an event that could cause
"sudden change" to the
, 3
Charts On The US Consumption Crash Dead-Ahead Durden
3-5-12 , Apple
Encounters Gravity As 3rd Biggest Drop In 3 Months Drags Market Down Durden 3-5-12 , IIF
Steering Committee Holds Only 20% Of Greek Bonds Subject To PSI Durden 3-5-12 , Biggest
3-Day Slump in 3 Months for High-Yield Bond ETF Durden
3-5-12 , McCain
Calls For US To Lead Effort To Begin Syrian Air Strikes Durden 3-5-12 Sen. McCain calls for US to lead 'international
effort' to begin air strikes on Syria. Looks like operation
"Enduring Brent Crude Freedom" is about to commence. , Dallas
Fed's Fisher "Perplexed" By Wall Street "Fetish" With QE3
And Disgusted With The Addiction To "Monetary Morphine... Durden 3-5-12 , Chris
Martenson: Japan Is Now Another Spinning Plate In The Global Economy Circus Durden 3-5-12 For those who are in a
hurry today, the bottom line is that Japan is in serious trouble right now and
is a top candidate to be the next black swan. *The total shutdown of all 54 nuclear plants,
leading to an energy insufficiency *
, As
Greek CDS Hit Record, German Economy Minister Accuses Greece Of Reneging
Durden 3-2-12 , Guest
Post: If This Is Such a Strong Economy, Why Does This Chart Look Recessionary?
Durden 3-2-12 , Art
Cashin On Why The "Economy Is Weaker Than It Has Been In 21 Months"
Durden 3-2-12 The key focus of Cashin's daily letter today has to
do with the steadfast resilience of the ECRI's Lakshman Achuthan, who called
for a recession back in September, and when asked yesterday if he reaffirms his
call, he says "Consider it reaffirmed." He then proceeds to list out
the "key, hard facts" summarizing the litany of truth as follows:
"The
economy is weaker today than it has been in 21 months." … , Warm
Weather Did Boost Economy Goldman Finds, Will Now Be A Drag
Durden 3-2-12 While last winter every downtick in corporate
earnings was promptly "explained away" by executives using the harsh weather excuse, one has heard not a
peep from companies on the topic of an abnormally accommodative climate over
the past 4 months. And why would they - after all it would mean that any gains,
not that there have been many as most companies have reported below average
results, have been artificially boosted by one-time events. Needless to say, the
mainstream media would rather not touch this topic with a ten foot pole: there
is an election to be won and the public can not be disturbed with facts (heaven
forbid someone should mention seasonal adjustments - that's a death sentence).
Which is why ironically we have to go to Goldman, which as noted recently, has
once again turned bearish on the economy for one reason or another… , Who Is
Most Exposed To The Oil Price Shock? Durden 3-2-12 Over the past 5 months, the only reason the US
market, and this economy has outperformed the world (or "decoupled"
in the case of so-called US fundamentals) is because the trillions in
incremental liquidity from generous central planners have homed in on US
equities like a heat seeker, in the process boosting confidence, and in a
reflexive fashion, making consumers believe that things are getting better (for
producers of printer cartridge maybe, everyone else just keeps getting worse
off in real, not nominal, terms).
Paradoxically, the trillion plus injected into the system from the ECB, ended
up helping not Europe, but the
WLI made a 28 week high. It has not been this high
since August 12, 2011, when it was 124.7. WLI growth made a 27-week high. It
has not been this high since August 19, 2011, when it was a negative 1.0…Last
week in the article "ECRI
Remains Bearish on US Economy - Recession Still Expected" ECRI
reiterated their call for a recession this year with these key points:
Since September Recession Call, ALL of the data used
to define recessions is slowing.
Put
those into a COINCIDENT INDEX then it shows the growth has been slowing. We
have not had a decline like that in the Coincident Index without a recession in
the last 50 years. ECRI's Co-Founder & Chief Operations Officer, Lakshman
Achuthan, said recession should begin by mid year 2012. He says revisions in
the data might say a recession has already started just like the last
recession. If the recession is starting now, then the consensus should figure
it out in about six months (August.)…’ , Moody's
Cuts Greece to Lowest Debt Rating
TheStreet , Despite Recent Gains, S&P is Still Stuck in Bear Market
, Housing Still Drowning in Underwater Mortgages By Kathleen Madigan , Half
a million UK retirement plans shattered overnight as pensions plunge , 30
Stupid Things The Government Is Spending Money On The
American Dream March 2, 2012 http://albertpeia.com/30stupidgovtspendings.htm , "How
Did You Not Notice 24-Year-Olds Were Being Paid $2 Million A Year Who Clearly
Didn’t Know Anything?” Durden
3-2-12 Michael
Lewis' scathing, aphoristic, uber-sarcastic style need no introduction. As such
we will leave this brief clip from Slate, in which The Big Short author is
asked how to avoid a new financial crisis, without much commentary (the answer
is that under the current status quo system it is impossible to guarantee no
more financial collapses, even if
Glass-Steagall were to be unwound, but that is the topic for another story),
suffice to point out the punchline: "future generations will wonder, “How did you not notice 24-year-olds were being paid
$2 million a year who clearly didn’t know anything?” That
pretty much sums it up right there. , Erik
Townsend: Expect a US Price Shock as Black Swans Come Home to Roost Durden 3-2-12 American
investor (and longtime CM.com member) Erik Townsend has spent the past
several years living internationally, with an eye to which countries may be
good alternatives if economic crisis and/or Peak Oil start to materially impact
life in the US. His main observation as an expat? Through its misguided
policies, the US has been exporting inflation to the rest of the world, raising
prices all over the globe (as an example, he cites a $57 chicken pot pie from
the menu at a 'working class' restaurant in Australia). This inflation is
affecting the rest of the world harshly, but is not yet being felt in the
, John
Taylor Warns Of A “Highly Disastrous, Totally Uncontrollable Inflationary
Conflagration” Zero Hedge | A must read from FX
Concept’s John Taylor for anyone who has been following the global central
bank’s exponential balance sheet expansion over the past several months. , Austerity
Measures Only Lead to More Bailouts.... So Who's Going to Bailout the ECB When
It Goes Bust? : Phoenix Capital... : 03/01/2012 - 15:08
Does Grantham go too far or is he just part of the
growing chorus of Capitalists questioning Capitalism? As I said in 2009
in "A Tale of Two Economies," the widening gap between the
rich and the poor has gotten to the point where it is now harming the system
and some (not too many, I'm afraid) of us Capitalists don't think it's prudent
to simply take what we can from what's left of the bottom 99%'s wealth as if
our fate is not entwined with theirs…’ ,
Durable
Goods Big Miss -4%, Expected -1%, Biggest Sequential Drop Since January 2009 Durden 2-28-12 ‘The Dow has closed above
13,000 for the first time since 2008, and the mainstream media is declaring
that a strong economic recovery is underway. Barack Obama is telling
anyone who will listen that his economic policies are a huge success, and
And so the
transition to the QE3 "economic disappointment" regime begins.
Because after the ECB is done with the LTRO it's over for global QEasing, and
the Fed is next. Remember- Bernanke's semiannual testimony to Congress is
tomorrow. Whatever will he say.... -Headline Durable Goods plunges from +3.2 to
-4% on expectations of -1% -More painfully, Durable goods non-defense ex
aircraft down a whopping -4.5% on Exp of -1.3%, down from +3.4%. Visually, this
is the lowest Durable Goods number since January 2009 , Ireland
Mentions "R" Word, EUR Plunges Durden
2-28-12 , Silver
Passes 30% YTD As Catch 22 Economic "Updates" Becomes Blurry Durden 2-28-12 , It
Begins: ECB Calls For Bids In 3 Year LTRO Durden
2-28-12 , JPM Pwns Nancy
Pelosi Durden
2-28-12 , THiS Is TROIKA! : williambanzai7 : 02/28/2012 "There will be no glory in your sacrifice.
I will erase even the memory of free
Noel Brinkerhoff , Economist
Predicts US Interest Rates To Explode To 3.75% This Year Business Insider | John Ryding, chief
economist at RDQ Economics in New York, expects rates on 10-year Treasuries to
reach 3.75 percent this year. , Stockman:
If We Want to Bring Oil Prices Down, We Should Stop Beating the War Drums Washington’s Blog | Stockman: War
Drums Are Driving Up Oil Prices and Hurting the Economy. , Economy Squeezed
As Debt Accelerates Ron Paul |
Senator Jeff Sessions, ranking member of the Senate Budget Committee has
pointed out that our per capita government debt is already larger than
Greece’s. , Guest
Post:The Existential Financial Problem Of Our Time Durden 2-28-12 The modern,
debt-based economy requires constant economic expansion if only to service all
that debt. So what happens when the modern economy goes ex-growth and stops
expanding?
, S&P Declares Greece in Default
Wall
Street Journal [Breaking] , 3 doomsaying
experts who foresee economic devasation ahead... By Adam Shell NEW YORK – ‘Behind the
mainstream Wall Street happy talk about
more stable financial markets and an improving economy are grim warnings of
tough times ahead from a small cadre of doomsayers who warn that the worst of
the financial crisis is still to come. , Military
Keynesianism Can’t Work … Because WWII Was Different from Current Wars Washington’s Blog | “Military
Keynesians” – people who think that war is good for the economy – base their
theory on the mistaken idea that World War 2 pulled us out of the Great
Depression. , David Rosenberg:
"It's A Gas, Gas, Gas!" Durden 2-27-12 "It Is completely ironic that we would be experiencing
one of the most powerful cyclical upswings in the stock market since the
recession ended at a time when we are clearly coming off the poorest quarter
for earnings... , Mountain
Of Worry Shifts From Olympus To Zagros
Durden 2-27-12 , It's
Official: S&P Cuts Greece To (Selective) Default From CC Durden 2-27-12 From
S&P: "We lowered our sovereign credit ratings on Greece to 'SD'
following the Greek government's retroactive insertion of collective action
clauses (CACs) in the documentation of certain series of its sovereign debt on
Feb. 23, 2012....We do not generally view CACs (to the extent that they are
included in an original issuance) as changing a government's incentive to pay
its obligations in full and on time. However, we believe that the retroactive
insertion of CACs will diminish bondholders' bargaining power in an upcoming
debt exchange , Brodsky
On Buffet On Gold
Durden 2-27-12 We have
repeatedly voiced our views on Buffett's relentless bashing of the only asset
that is a guaranteed protection against now exponential currency debasement and
central planner, and other PhD economist, stupidity, most recently
here. We are happy that other, more politically
correct asset managers, have decided to share how they fell, and
take the crony capitalist to task. The first (of many we are sure), are Lee
Quaintance and Paul Brodsky of QBAMCO who have just penned "Golden
Boy" or the much needed "high society" response to the old man from
Omaha… We strongly disagree with Mr.
Buffett’s views and we thought it would be best to explore his comments and
provide our counter-arguments." , Name The Bubble Durden 2-27-12 As the
title suggests, please name the latest bubble , Here
Is Why Someone Will Be Disappointed By The LTRO Durden 2-27-12 Gaming out
the impact of this week's LTRO2 demand on global risk assets is complicated by
the ability of banks to mobilize
collateral (how much can they pledge to the ECB and how much of
that will be 'optimal' given the implicit subordination of senior unsecured
debt holders), the use of those funds
(carry trade economics are considerably lower and refinancing needs remain
high), and the market's expectations
(just how much more back-door QE is priced into European - and for that matter
- US asset prices). , Merkel:
"No Guarantee Second Greek Bailout Will Work" Durden 2-27-12 , Art
Cashin On The World Running Out Of Ideas To Bail Out Itself Durden 2-27-12 , Guest Post:
The Trajectory Of Tragedy Durden 2-27-12 With an
economy of just $3.2Tn versus the United States $14.3Tn Germany is trying to
prop up a Eurozone that is more than one trillion dollars bigger than America.
They just do not have the resources for the task they are undertaking and I
predict serious consequences, eventually, from their efforts. Germany is “best
of class” and will be the last to go but they cannot evade the European
recession in the end and I think it is only a matter of time and unfortunate
decisions before the austerity demands made on so many will wind their way back
home to those who made the demands. They used a timeline that was much too
short for the job at hand and payment will eventually be forced upon them. They
obviously get the joke where Eurobonds and other ploys of this nature average
the economies of Europe and the standards of living over some period of time so
that
, Scandal:
Greece To Receive "Negative" Cash From "Second Bailout" As
It Funds Insolvent European Banks Durden
2-22-12 Earlier today, we learned the first stunner of the
Greek "bailout package", which courtesy of some convoluted
transmission mechanisms would result in some, potentially quite many, Greek
workers actually paying
to retain their jobs: i.e., negative salaries. Now, having looked at the Eurogroup's
statement on the Greek bailout, we find another very creative use of
"negative" numbers. And by creative we mean absolutely shocking and scandalous. First, as a
reminder, even before the current bailout mechanism was in place, Greece
barely saw 20% of any actual funding, with the bulk of the money going to
European and Greek banks (of which the former ultimately also ended up funding
the ECB and thus European banks). Furthermore, we already know that as part of
the latest set of conditions of the second Greek bailout, an 'Escrow Account"
would be established: this is simply a means for Greek creditors to have a
senior claims over any "bailout" cash that is actually disbursed for
things such as, you know, a Greek bailout, where the money actually trickles
down where it is most needed - the Greek citizens. Here is where it just got surreal. It turns out that not
only will Greece not see a single penny from the Second Greek bailout, whose
entire Use of Proceeds will be limited to funding debt interest and maturity
payments, but the country will actually
have to fund said escrow! You read that right: the Greek bailout #2 is nothing but a
Greek-funded bailout of BS BLS does.We read yesterday some breathless
financial commentators remarking that mutual funds showed the first positive
fund flows since the previous January. That’s a nice assertion, but January is
always a time for people to invest for their IRA or 401K and so forth.
Surprisingly ETF fund flow data from the previous bullish week showed $1.2
billion in outflows for both equity and bond sectors.Basically, markets are
just getting tired. We’ve remarked to members regarding weekly DeMark 9 count
indicators which normally reflect “trend exhaustion”. This is not to say these
counts are perfect and may just indicate some sideways movement ahead. And,
that’s all we may be seeing despite how much liquidity global central banks are
feeding bulls. Meanwhile the SEC’s Mary Shapiro said she’s worried about HFT (High Frequency Trading).
Worrying isn’t a policy. Wake me when you’re on to something real… , Fitch downgrades Greece on debt swap plan , Greek Debt Deal
Done—Yeah Right Greg Hunter | I keep asking myself,
when is a deal not a deal?
Meanwhile,
China Moves From Currency Wars To Trade Wars Durden 2-21-12 , Greek
CDS Trigger Priced In Durden
2-21-12 , For
Greece, "Tomorrow" Has Arrived
Durden
2-21-12 The day dawns with a deal for Greece that is
full of smoke and mirrors; lies and deceptions. , More
Leaked Greece Details: Downside Case Sees Funding Needs Soar From €136 Billion
To €245 BillionDurden
2-20-12 , JPM
Hikes Crude Price Forecast, Sees $120 WTI By Election Time Durden 2-20-12 , The
Price Of Gas Is Outrageous – And It Is Going To Go Even Higher http://albertpeia.com/gaspriceshigher.htm ,
Drudgereport: White House
seeks to deflect blame... GALLUP:
Unemployment Rises to 9% In February... SATISFACTION
WITH COUNTRY WORST SINCE CARTER... Michelle
hits the slopes in Aspen month after Hawaiian holiday... 16th
vacation in 3 years... For Baby
Boomers, it's now 'work til you drop'... Gas prices
highest ever for this time of year... $4.93 in Los
Angeles... , Guest
Post: Consequences To Expect If The U.S. Invades Iran Durden 2-20-12 Let’s be honest, quite a few Americans love a good war, especially
those Americans who have never had to bear witness to one first hand. War
is the ultimate tribally vicarious experience. Anyone, even pudgy
armchair generals with deep-seated feelings of personal inadequacy, can revel
in the victories and actions of armies a half a world away as if they
themselves stood on the front lines risking possible annihilation at the hands
of dastardly cartoon-land “evil doers”. They may have never done a single
worthwhile thing in their lives, but at least they can bask in the perceived
glory of their country’s military might. This attitude of swollen
ego through proxy is not limited to the “Right” side of the political spectrum
as some might expect. In fact, if the terrifyingly demented presidency of
Barack Obama has proven anything so far, it is that elements of the “Left” are
just as bloodthirsty as any NeoCon, and just as ready to blindly support the
political supremacy of their “side” regardless of any broken promises,
abandoned principles, or openly flaunted hypocrisies. No matter how
reasonable or irrefutable the arguments against a particular conflict are,
there will ALWAYS be a certain percentage of the populace which ignores all
logic and barrels forward to cheerlead violent actions which ultimately only
benefit a select and elite few. , The
Real Mega-Trend That Guarantees the Cost of Living Will Rise http://gainspainscapital.com February
21st, 2012 , Guest
Post: The Great ECB-OSI Bond-Swap Scam Durden 2-20-12 A massive 150bn euro bill exclusively reserved for the EU-IMF funding of
the "official" (OSI) and the private (PSI) sector participations in
the Greek writedown on Greek debt may be the key factor behind the ongoing
delays in the eurozone finance ministers' approval of a second bailout for
Greece. This factor remains concealed behind media hysteria about the supposed
failure of Athens to comply with a brutal austerity diktat by the EU-IMF-ECB
'troika'....The question is how will the Eurogroup approve these PSI
participation costs that far exceed the supposed gain from the 100bn euro
"haircut" but also leave nothing to cover Greece's debt servicing
obligations for 2012-2014 of at least another 70bn euros to say nothing of
possible budget deficits due to the collapse of public revenues in the fifth
consecutive year of a Greek depression. All
the histrionics about forcing Greece to set up a separate “escrow account that
would give legal priority to debt and interest payments over paying for
government expenses”, is nothing but a smokescreen for piling massive sums of
fresh public debt on Greece's shoulders without lending a single penny to make
up for the economic catastrophe meted out on the country. , Tomorrow
And Tomorrow And Tomorrow Durden 2-20-12 Once we see what
Goldman
Raises Stop On Its Long Russell 2000 Reco, Cites Heightened Concerns Of Greek
Default Durden
2-16-12 , The
Triumvirate of Wall Street/ the Fed/ and US Politicians is Crumbling Pt 2 :
Phoenix Capital... : 02/17/2012 - ‘One thing is
for certain, the litigation is beginning to shift from minor players to major
players at the core of the Financial Crisis. , Greek CAC
Trigger Walk Thru Durden 2-17-12 While we have
done our best to explain what the implications are of the actions of the
various parties in the Greek/German/ECB/Euro swap/default/CAC/PSI/Austerity
events, it is perhaps worth one more try to address how we see this
playing out and exactly what the ECB just did. The weakness in GGBs today along with the rise in
the cost of Greek basis packages (a hedged bond trade that looks to profit from
a credit event or compression) suggest markets are beginning to wake up to
reality but the dead-currency-walking behavior of the EUR (and ES) since last
night's close suggests many remain sidelined or have all their chips on the
constantly-tilting table. In the end every private holder will write-off 50
percent permanently and those that live in a mark to market world (fewer and
fewer live in that world in
News
Flash: The Rally Is Over…For Now The Wall Street Journal 2-10-12
‘..That’s enough of a pullback for Mr. Arbeter to call a near-term top. He sees
the S&P 500 tumbling into the 1290 to 1320 range by early March, with tech
stocks as the ”most overbought and vulnerable to some profit taking.”..’ ,
This Is What An Economic Depression Looks Like In The 21st
Century http://albertpeia.com/21centurydepressiongreecedusup.htm 2-10-12 ,
Macroeconomic
problems will not go away
MarketWatch , S&P
Downgrades 34 Of 37 Italian Banks - Full Statement Durden , The
Great Squeeze: Asset Prices Will Fall, While the Cost of Living Will Rise
February 13th, 2012 http://gainspainscapital.com , The
next Black Swan is coming (Updated)at
MarketWatch By Cody
Willard … CBO Solution to Budget Crisis – Everyone
Bend Over!
, Young
Adults Jobless And Living At Home With Mom And Dad? http://albertpeia.com/joblesslivinhome.htm , January
Gas Prices At All-Time Highs Durden
2-14-12 , 20 Things We Can Learn About The Future Of America From
The Death Of Detroit http://albertpeia.com/20thingshellholeamericasfuturedeathofdetroit.htm
, Midday
Market Report: Poor Retail Sales Drag Down Equities
Minyanville , The
Triumvirate of Wall Street/ The Fed/ and the White House is Beginning to
Crumble February 14th, 2012 ‘The Obama administration, as it pursues
re-election in 2012, is doing all it can to claim that the US economy is in
fact not quite as bad as previously thought. One of the tactics is to massage
GDP and jobs data. True, this practice has been in place for over a decade, but
the recent January jobs report from the BLS has set, shall we say, a new
high-water mark for “adjustments.” According to the BLS, we ADDED 243,00 jobs that month. That’s
an odd claim given that the BLS admits, in the very same report, that without
adjustments, the
February 9, 2012
, Infographic:
Presenting A World Covered In (Hundred Dollar Bill) Debt Durden 2-9-12 http://albertpeia.com/europeandebtcrisispiigs.htm
Our friends at Demonocracy have
once again surpassed themselves, and have followed up the
infographic showing the truckloads of cash that are needed to rescue the
insolvent PIIGS, with this masterpiece which, while making the naive assumption
that debt is represented by physical paper (when it is nothing but a bunch of
electronic ones and zeros stored in various computers around the world),
presents in gloriously visual terms precisely what the literal debt burden of
the world's would look like expressed in piles of one hundred dollar bills. The
result is quite stunning... , Guest
Post: Stop The (Printing) Press!.... If Only We Could
Durden
2-9-12 , Calm
Before The Storm? Credit Plunges As VIX Futures Jump Most In 2 Months Durden 2-9-12 , Is
The Foreclosure Settlement A Shadow Bailout For Broke California Durden 2-9-12 , Guest
Post: Self-Interest And The Pathology Of Power: The Corruption Of America Part
2 Durden
2-9-12 The Power Elites'
time-honored strategy to protect their own wealth and grip on power has three
components: one is to pursue a strategy of pervasive, ceaseless
propaganda to persuade the productive classes that the system is sound, fair
and working for them; the second is to fund diversionary "bread and
circuses" for the potentially troublesome lower classes, and the third is
to harden the fiefdoms of power and wealth into an aristocracy that is
impervious to the protests of debt-serfs and laborers below. In addition to
"the system is working for you" social control myth, the wealth/power
aristocracy also invokes various fear-based social control myths: external
enemies are threatening us all, so ignore your debt-serfdom and powerlessness,
etc… , Is
A Greek Uncontrollable Default Inevitable? Durden
2-9-12 It seems … , Money, Money,
Everywhere Durden
2-9-12 FX Concepts' John Taylor is out with today's slam dunk de-noisification of all that is
irrelevant with the following summary of what is really going on as the world's
central banks embark on the latest and hopefully final attempt to reliquify
everything. All we can add to Taylor's analysis, especially in light of today's
incremental easing in ECB collateral requirements, is that the biggest
beneficiary by far of what in a few months will be another multi-trillion
balance sheet expansion, is and continues to be hard, non-dilutable, i.e., real, money. Because as fiat currency
loses all relevance in a world in which it is printed on a daily basis by the
central banks, whether or not we end up with a Weimar scenario, the cash thrown
out by the even profitable companies will be increasingly more meaningless. , Economists
Surprised Again By Unemployment Claims, Should Not Have Been : ilene
: 02/09/2012 - 21:37 Lots of motion, little progress. , Drudgereport: WIRE:
Foreclosure Deal to Spur Home Seizures... , Israel teams with terror group to kill Iran’s nuclear
scientists, U.S. officials tell NBC News NBC News | The group is
financed, trained and armed by Israel’s secret service.
, The High Cost of 0% Rate
Feb 8th, 2012 (24hGold) — The interminable extension by the water was
wet Fed policy will be unable to impact unemployment since the cyclical
changes are more structural leading to jobless recoveries as fat is removed
from the system. , Guest
Post: Illusion Of Recovery - Feelings Versus Facts Durden
2-6-12 The last week has offered an amusing display of the difference
between the cheerleading corporate mainstream media, lying Wall Street shills
and the critical thinking analysts. What passes for journalism at CNBC and the
rest of the mainstream print and TV media is beyond laughable. , MF
Global Trustee Finds That Company "Did Not Always Record Cash
Movements" Durden
2-6-12 The MF Global Trustee has just released their preliminary report
on the progress in uncovering where the vaporized cash went. Bloomberg notes:#1MF GLOBAL DIDN'T ALWAYS RECORD CASH MOVEMENTS,
TRUSTEE SAYS#2TRUSTEE SAYS MF HAD SHORTFALL IN COMMODITIES
FUNDS START OCT 26#3MF BROKERAGE TRUSTEE TRACED $105 BLN IN CASH MOVEMENT#4MF
COMPUTERS COULDN'T TRACK VOLUME IN FINAL DAYS, TRUSTEE SAYSOf course, we know that MF Global is the only company
to not follow Fiduciary Principles 101 (client cash commingling) but also
Accounting 101 (T square, debits, credits, and all that boring and apparently
irrelevant in a time of uber-kleptocracy, stuff) leaving us wondering just how
much of that unrecorded cash may be found in unrecorded suitcases in unrecorded
bank vaults. , "No
Country For Old Men?" Bernanke Plan To Exterminate Savers Is Unsustainable Durden 2-6-12 Bernanke's recognition of
his penalizing savers with low rates as an 'issue for people' sparked an
interesting note
from the WSJ on how sensible and stoic savers are being herded (unsafely)
into risky investments… , Greek
PM Demands Report On Default, Eurozone Exit Consequences Durden 2-6-12 , Fed’s
Bullard: Extended Zero Rate stance ‘A Looming Disaster’ Feb 6th, 2012 (MNI)
, Greece
lets another deadline slip in bailout poker Feb 6th, 2012 (Reuters) , Illusion
of Recovery: Feelings Versus Facts The
Burning Platform | The false storyline last week was the
dramatic surge in new jobs., 8.3% Unemployment Lie Greg
Hunter | The most recent unemployment number is a total lie, and that lie was
repeated all over the mainstream media (MSM). , Is
Obama's Peace Prize About To Be Confiscated? Nobel Peace Prize Jury Under
Investigation Durden
on 02/05/2012 [ If it isn’t, it should
be! Alternatively, if it isn’t confiscated, the nobel etc. should be abolished
or relegated to the international joke they would then be and currently is as a
consequence thereof! At the very least, they should be totally ignored until
their wobama error is corrected! ]
, Goldman
Turns Bearish: Squid Releases Top Trades For 2012... And It's Not Pretty Durden .. the squid is bearish. Which is bad news , Market
Rally Won't Last Long Forbes , The
Worldwide Depression/Recession Of 2012
Jeff
Harding, STOCKS
RISE DESPITE MORE BAD NEWS: Here's What You Need To Know Business Insider Sam Ro ‘As Greece
inches toward default and the sufficiency of Europe's EFSF bailout fund
is called into question, everyone's worst nightmares of Europe's debt debacle
escalating to a systemic crisis could be nearing reality. ‘ , The most accurate forecaster on
the Street thinks stocks are going downAdam ParkerBloomberg Morgan Stanley's
Adam Parker was crowned the most accurate forecaster when the S&P 500
closed 2011 within a handful of points of his year-end target of
1,238. His 2012 year end target calls for stocks to fall to 1,167. He sees a
global economic slowdown hitting corporate profits hard. , An eerie technical
pattern is predicting the S&P plunges to 935Bank
of America via Zero Hedge Mary
Ann Bartels, Bank of America's Head of Technical and Market Analysis , 935
is nothing; the S&P 500 will crash to 579.57United-ICAP's
Walter Zimmerman (via WSJ's
Tom Kilgore) is a technical analyst who has been looking at the charts and
they're telling him that the S&P is headed for 579.57. And there's
one thing that'll cause the markets to tip:
Is
The Fed's Balance Sheet Unwind About To Crash The Market, Again? Durden on 01/13/2012 , On
The Fed's Failure To Inspire, TrimTabs Shows Where The Real Money Is Going Durden on 01/13/2012 As volumes this year
in stock markets remain significantly below last year's but high yield bond ETF
inflows reach record highs, TrimTabs offers some context for the massive
relative flows of real cash into checking and savings accounts versus stock and
bond mutual fund and ETFs. , Guest
Post: Why QE3 Won't Help "Average Joe" Durden
on 01/12/2012 , Foreigners
Sell Record $85 Billion In Treasurys In 6 Consecutive Weeks - Time To Get
Concerned? Durden
, Eric
Sprott: "The Financial System Is A Farce" Durden
on 01/12/2012 2011 was a merry-go-round of more bailouts, more deferrals
and more denial. Everyone is tired of the Eurozone. It’s not fixable. There’s
too much debt. The politicians don’t know what’s going on. Nothing has
structurally changed. We’re still on the wrong path. There’s more global debt
than there was a year ago, and it’s the same old song: extend and pretend,
extend and pretend,… around and around we go,… and it isn’t fun anymore. Just
as we wrote back in October 2007,
and again in September
2008, we feel compelled to state the obvious: that the financial system is a farce. It’s a
complete, cyclical farce that defies all efforts to right itself.
, Credit
Outperforms Stocks As Asset Correlations Deteriorate Further Durden , Why
Do Zombie Banks Hate Writing Off Bad Loans? Jonathan Weil Explains Durden on 01/12/ why all bank earnings
over the past 3 years are fake? Wonder why few if any banks ever dare to take
major write offs and represent the true nature of their financials? Wonder no
longer: Bloomberg's Jonathan
Weil explains. , Obama
Sends Request To Congress For $1.2 Trillion Debt Ceiling Increase , 2012
could be worse than 2011 — Joseph Stiglitz at Project Syndicate http://www.project-syndicate.org/commentary/stiglitz147/English
, The New
International Economic Disorder Mohamed A. El-Erian , Guest
Post: Dear U.S.A.: Your Account Is Overdrawn Durden
on 01/12/2012 Dear U.S.A.--your
overdraft protection is about to be pulled.Dear United States of
America: We regret to inform you that your withdrawals exceeded your deposits
last year by $1,600,000,000,000 ($1.6 trillion), including your
"supplemental appropriations" spending.Your account does have an
overdraft protection, and so bonds were sold to cover your $1.6 trillion
overdraft. While we value your business, we feel obligated to remind you that
this is the third year that your overdraft protection exceeded 10% of your gross
national product (GDP), and it seems your account is on course to register yet
another $1.6 trillion overdraft in fiscal year 2012. , WAIT…
WASN’T THE GREEK ISSUE SOLVED ALREADY? January 12th, 2012 http://gainspainscapital.com , Largest NYSE Short Interest Changes as of Dec. 30 Bloomberg http://albertpeia.com/shortpositions111112.htm , 40%
of Americans Are Now Independent. Independents Would Vote for Paul Over Obama
: George Washington : 01/11/2012 Independents
would elect Paul over Obama. , David
Rosenberg Explains What (If Anything) The Bulls Are Seeing Durden on 01/11/2012 While we have long
asserted that any attempt to be bullish this market (and economy) by necessity
should at least involve the thought experiment of eliminating such pro forma
crutches as trillions in excess liquidity from the Fed, not to mention direct
and indirect intervention by the central planners in virtually all asset
classes, which in turn drives frequent periods of brief decoupling between
various geographies and asset classes (which always converge) and thus economic performance (because
as Bernanke will tell you gladly, the economy is the market), an exercise which would expose a hollow
facade, a broken market and an economy in shambles… , China
Enters The Danger Zone, SocGen Presents The Four Critical Themes Durden on 01/11/2012 As both anecdotal,
local
and hard
evidence of China's slowing (and potential hard landing) arrive day after
day, it is clear that China's two main pillars of strength (drivers of growth),
construction and exports, are weakening… They detail their concerns about the
Chinese economic outlook (weakening
exports, housing bubble about to burst, local government's debt burden, and
large shadow banking system), and show that China has no
choice but to transition to a more consumption-driven economy leading to waning
growth for infrastructure-related capital goods and greater demand for
consumer-related manufacturing. Overall they see a hard-landing becoming more likely. , Guest
Post: Iran: Oh, No; Not Again Durden
on 01/11/2012 In each of the years 2008, 2009, and 2010, significant
worries emerged that Western nations might attack
Dire
predicament, forecast, time to ‘get out of Dodge’ http://albertpeia.com/forecastusdebtgetoutofdodge.htm , Morgan Stanley On
Why The Gig Is Up Durden on
01/06/2012 "What we have on our hands is a good old
fashioned quagmire" is how Morgan Stanley's Mike Wilson sets up his
surprisingly non-sheep-like perspective on the troubles that US equity
investors may be about to face. Expanding on MS's bearish strategic
(fundamental) forecast, that
we discussed earlier in the week, Wilson combines the 'liquidity vs
negative-real-rate' thesis (that the Fed's liquidity is perhaps no longer 'good'
for stocks) with his own
views on ECRI's weakness
(very 2008-like in relation to ECO surprises), household debt deleveraging (more and longer), how much QE3 is already priced in and what will its effect be when
it comes (less and less positive in nominal and real terms), investor sentiment
(very
bullish), long-term technicals (weak breadth), and short-term earnings expectations (deteriorating and weighted to 'weak' financials to end with the pragmatic realist perspective that
perhaps 'the gig is up'., Fitch
Downgrades Hungary To BB+, Negative Outlook Durden
, Guest
Post: Italy Gone Fascist? Durden 01/06/2012 , Record
Consecutive Treasury Dump From Fed's Custody Account
Durden , Euro
Shorts Surge To New Record High - Is An EC Margin Hike Approaching?
Durden , Japanese
Zombie Banks Perfected By Europeans Durden , Barclays
Estimates ECB Losses On Bond Purchases At €30 Billion, Or Nearly Half Of
Eurosystem Capital Durden , Sarkozy
Threatens With War If Euro Fails Durden , Art
Cashin Explains What Is Really Happening In Iran Durden , Guest
Post: Be Careful What You Wish For, Such As ECB Printing Money Durden on
01/06/2012 Last month,
global equity markets fairly demanded that the ECB hurry up and print, through
buying euro zone debt. Effete euro elites publicly demurred at first, insisting
that unlike crass Anglo-Saxons, they didn’t let financial markets push them
around. Shortly thereafter, to markets’ thrill, LTRO was launched, i.e.
backdoor money printing, since any sentient investor realizes that the debt
being bought by the ECB is effectively like a loan to a family member , Deus
Ex Alpha Centauri: Buy Euros Now As SETI May Have Discovered Aliens
Durden , http://theeconomiccollapseblog.com
: Look Out
Below – The Nightmarish Decline Of The Euro Has Begun , 34
Shocking Facts About U.S. Debt That Should Set America On Fire With Anger ,
When Times Get Tough,
The Tough Get A Backbone , 2012 Will Be More Difficult Than
2011 , 30
Statistics That Show That The Middle Class Is Dying Right In Front Of Our Eyes
As We Enter 2012 , The
Number One Catastrophic Event That Americans Worry About: Economic Collapse
, 40
Hard Questions That The American People Should Be Asking Right Now , The Obama
Nation: Even More Debt And Even More Store Closings , The Worst Time Of The Year? , A Very
Scary Christmas And An Incredibly Frightening New Year , Look
Out Below – The Nightmarish Decline Of The Euro Has Begun http://theeconomiccollapseblog.com , Here
We Go Again: US $25 Million Away From Debt Ceiling Breach Durden 01/05/2012
, EURUSD
Dips Below 1.28 As All Hell Breaks Loose In Italian Financials Zero Hedge ,
Top
Three Central Banks Account For Up To 25% Of Developed World GDP Durden 01/05/2012
, Mass
Home Refinancing Rumor Rejected, And Why Even If It Was True It Would Not Help
BAC Durden
01/05/2012
, Mike
Krieger On Why He Supports Ron Paul Durden
01/05/2012
, CMA
Now Officially Assumes 20% Recovery In Greek Default - Time To Change Sovereign
Debt Risk Management Defaults? Durden , Why You Should Run When Wall Street Says Buy - Simon Maierhofer | ETFguide , [video]
Companies Dial Down 2012 Forecasts 01/05/12
TheStreet Companies are dropping their forecasts for 2012 and money
managers are nervous to commit funds says Ken Polcari of ICAP Equities. , US
ISM non-manufacturing index rose to 52.6 in Dec, below market expectations of
53.0, vs 52.0 in Nov. Jan 5th, 2012 , Concerns
over European debt crisis resurface amid bank shares drop, lukewarm French bond
sale Jan 5th, 2012 (Washington Post) , French
Borrowing Costs Rise at Auction as AAA Rating Faces Threat of Cut Jan 5th,
2012 , The
Can Kicking Is Ending - Key Upcoming Dates For Europe's Patient Zero Durden on 01/04/2012 , Retail
Investors Pull $140 Billion From Equity Funds In 2011 Which Close The Year With
19 Consecutive Outflows Durden , Equity
Valuations And The Jobless Recovery Durden , Euro
Zone Isn't Only Potential 2012 Boogey Man The Wall Street Journal , Guest
Post: President Obama, Demopublican Durden 01/04/2012 There is literally no difference between Obama and a
moderate Republican when it comes to the truly important policies governing the
nation's insolvent finances, its predatory financial sector, its corrupt and
fraudulent sickcare system or its sprawling Empire. Obama's
policies have all aided and abetted existing Status Quo cartels and fiefdoms…
, Stock
Bulls Should Exercise Continued Caution
Minyanville By DoctoRx Jan 03,
2012 ‘ … I have frequently referred to a chart produced by a British
analyst, Andrew Smithers (click on “q and FAQs,”) who
brilliantly (fortuitously) published a book in March 2000 proclaiming stocks to
be in the greatest bubble in history -- the very month that the NASDAQ peaked over 5,100. Every three
months, he supplies updated analysis on two of the parameters he and his
associates have computed that have historically had a strong track record in
predicting the course of stock
prices over an appropriate period of time… Here is his description, with
an update to account for stock prices just a bit lower
than year-end prices:With the publication of the Flow of Funds
data up to 30th September, 2011 (on 8th December, 2011) we have updated our
calculations for q and
CAPE. There has been a 1.6% rise in net worth over the quarter, due to a rise
of 10.7% in the current value of real estate. This was despite a downward
revision to net worth in Q2 2011 of 1.4%, mainly due to an upward revision of
2.8% in debt.Both q and
,
A
Hedge Fund Insider Explains Why Retail Investors Should Flee The Stock MarketDurden on 12/01/2011 ,THE MARKET IS MISREADING ECONOMIC DATA -- IT'S TIME TO GET SHORT
http://www.bullfax.com/?q=node-market-misreading-economic-data-its-time-get-short 12/01/2011 The Independent Investor , Chinese
manufacturing activity slows Dec 1st, 2011
(Financial Times) , US initial
jobless claims +6k to 402k for the week ended 25-Nov, above mearket
expectations of 390k, vs upward revised 396k in previous week. Dec 1st,
2011 , Another Confirmation of the Solvency Crisis Masquerading as a
Liquidity Problem Atlantic Capital Management Dec 01, 2011 ‘The
Federal Reserve is once again reaching into its controversial
"unconventional" toolkit -- meaning stocks are, for now, celebrating
the near meltdown of modern global banking. , SPX Update: Ben Bernanke Lends Money, Saves the World? Jason Haver Dec 01, 2011 ‘At this point, despite the massive
three-day rally, there are still a few unanswered questions. I remain medium
and long term bearish, while the short-term picture has become a bit clouded.’
, What Does the
Fed Know That We Don’t? 12-01-11 The thought that should be on every investor’s
mind today is “Why did the Fed have to
stage the coordinated intervention yesterday?’Put another way, what exactly does the Fed know that we don’t?The
whole thing smells fishy to me. Aside from the fact that the Fed clearly leaked
its intentions as early as Monday night (hence the reason stocks rallied while
credit markets weakened), there’s something peculiar about the fact the Fed
chose to do this at the end of November. Why November 30? Why not today or
Tuesday?I think the answer is that the Fed stepped in to help its institutional
investor/ hedge fund buddies.’ BofA,
Goldman Sachs, Citigroup Credit Ratings Cut by S&P Nov 30th, 2011
(Bloomberg) , Planned layoffs
surpass 2010 total CNNMoney
| Cuts announced this year are up 13% overall. , The
Easy Fix? Can Europe Print Its Way Out of Trouble? ETFguide ‘the long-term outlook is as dark as night
inside the Grand Canyon…’ , Global
Coordinated Desperation and the December to Remember Breakdown Minyanville Michael A. Gayed ‘With global central bank desperation
(I mean coordination) announced this morning and the big jump up in risk
assets…’ , The
Fed is So Predictable Chris Celi 11/30/2011 The Fed is becoming a
gigantic waste basket of bad assets. Waste baskets do not have infinite
capacity. Central
Banks’ Latest Move Shows Desperation George Washington 11/30/2011 Hey, at least a
handful of Ben's buddies will make a bundle ...
Deflation
is coming South of Wall Street 11/30/2011 It isn't
avoidable , Don't
Be Foolish, Sell the Next Key Level In the S&P 500 Forbes/Troccoli ‘http://blogs-images.forbes.com/thechartlab/files/2011/11/spafter.png , Wall
Street Watch: S&P Cutting Spree, Germany Faces RecessionWall St. Cheat Sheet , AN UNCONVINCING
RALLY http://www.istockanalyst.com/finance/story/5571238/an-unconvincing-rally By: Cam Hui
, BANK
DOWNGRADE RAMPAGE: Goldman, Bank Of America, Morgan Stanley, Wells Fargo, And
Citigroup Just Got Cut By S&P Business Insider | Standard & Poor’s
ratings service just cut the ratings of Goldman Sachs, Bank of America, Morgan
Stanley and Citigroup from A to A-. , China
Manufacturing Contracts As New Export Orders See Biggest 2 Month Drop Since
Dec2008 Durden 11/30/2011 -UPDATE:
HSBC China Manufacturing PMI prints at
47.7, deteriorating at fastest rate (and lowest level) in 32 Months , Goldman
On Today's Coordinated Central Bank Bailout: "It Isn’t Enough To Save
Anyone Or Solve Averything" And "Why Now?" Durden
11/30/2011 , The
Punch Line: "Crash Test - Bracing For Breakup"Durden
11/30/2011 , For
The First Time In History, Fed Will Buy AND Sell Treasurys At The Same Time On
Friday Durden 11/30/2011 , Egan
Jones Downgrades France From AA- To A; Negative Watch, Sees Debt/GDP Rising
From 91% to 117% By 2013Durden
11/30/2011 , Of
Imminent Defaults And Self Deception. Kyle Bass Prepares For The Worst
Durden 11/30/2011 In his latest
letter to LPs, Kyle Bass of Hayman
Capital Management, offers his tell-tale clarity on what may
lie ahead for Europe and
A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator infra – and
that’s just the government (inflation) numbers … reality is much worse!}
Meanwhile, the frauds on wall street are churnin’ and earnin’ like never before
at lightning computerized speeds enabling the high-frequency trades that are
commissioned in unprecedented large volumes; a big net negative in real
economic terms.] While
Washington Fiddled The Economy Burned at
Forbes [ Oh come on! Let’s get real here! The economy was already burning (see
infra),
Here’s a picture of obama
voters / backers: http://www.albertpeia.com/wobamavoters.gif
Beneath
the Market’s Swings, Some Real Cause for Worry News
Jeff Cox August 11 (CNBC) — ‘So whether this equals, falls short of, or
exceeds the financial crisis of 2008 hardly seems to matter—investors are
afraid, very afraid, and the question as much as anything in the minds of many
market pros will be what soothes that fear. Analyst Dick Bove at Rochdale
Securities says he knows why: More restrictive capital requirements and
near-zero interest rates set at the Federal Reserve [cnbc explains] that make
lending neither easy nor lucrative, a trend that will make it difficult for the
economy to grow. “If one thinks through these limitations it can be seen that
banks must shrink their balance sheets and change their business patterns to
maintain their profits. What they are unlikely to do is to expand their lending
activities in order to grow the economy,” Bove wrote in a lengthy banking
analysis Thursday.“However, the Federal Reserve is suggesting that the economy
is unlikely to grow,” he wrote. “If the Fed is prescient, then banks are facing
higher loan losses, lower loan volume, and reduced margins on a wide array of
banking products. The outlook is not appealing.”“Even though the
The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed!
Previous, full moon and fraudulent wall street, get this, rallies on not as bad
as expected EU stress tests and better than expected google results but forget
the dire consumer (recession level) consumer sentiment number ‘cause after all,
consumer spending just a paltry 70% of GDP.
Think about this: short-lived Pavlov dog rally (the conditioned
stimulus) on hopes for more welfare for wall street and some good results in communist
Take
A Lesson From 2007 And Sell Stocks Now at
Forbes, Sean Hanlon ‘August has given new meaning to “the
dog days of summer” as the broad equity market has retracted all year-to-date
gains and dropped into negative territory, all within the first couple weeks.
As written in
my previous Market
Commentary on July 20, our research uncovered potentially dangerous
activity in the equity markets that could lead to a break and high
volatility. We presented this in that Market Commentary by the chart in
Figure 1 below. Using our proprietary research methodologies, we elected
to make a major “tactical” move on June 17.
That move
reduced all equity and high-yield bond exposure, creating 50% cash or cash
equivalent allocations across all portfolios. This defensive move was shown to
be prudent as volatility erupted and considerable downside was experienced in
equity markets in the first week of August, as shown in Figure 2.
Figure 1
(click image to enlarge.)
http://blogs-images.forbes.com/advisor/files/2011/08/11.jpg
With this
heightened volatility, we were observant that this market behavior was eerily
similar to market conditions in 2007. To elaborate on this point, let’s compare
the S&P 500 Index for 2007 vs. the first seven months of 2011. As you
can see below in Figure 2, 2007 experienced high volatility yet remained
range-bound in an upward trend (represented by the overlaid black bands).
Figure 2
(click image to enlarge.)
http://blogs-images.forbes.com/advisor/files/2011/08/2.jpg
The first half
of 2011 maintained a range-bound upward trend until finally breaking sharply to
the downside in the first week of August.
Of course now
everyone wants to know what happens next? Our research has no special
predictive power of what may happen now that the “trend” has been broken.
Instead, what our research is telling us is to remain extremely cautious at
this time. We have since moved client portfolios to almost 100% money
markets and/or cash equivalents in all accounts. We do maintain some high
quality bond positions.
You may think
“But I can’t make any money in money markets, they pay nothing these
days!” True enough, but there are many times in one’s investing lifetime
where the best investment is to simply maintain principal. That principal
amount will be able to potentially purchase more in the not too distant future.
A simple
example is stocks. On April 29 of this year, $1,340 purchased the
equivalent of one S&P 500 Index share. Today, to own those same
companies that make up the S&P 500 Index, the cost is below $1,200, yet the
same amount of dividends is being received. In this period preserving
principal has resulted in increased “investment” purchasing power, income and
potentially increased return.
Related article: Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 ‘
New Business Articles / Topics / Links
{scroll down to current
date}
All
truth passes through three stages. First, it is ridiculed. Second, it is
violently opposed. Third, it is accepted as being self-evident.--Arthur Schopenhauer
STOP ACTA
AND TPP http://albertpeia.com/stopactatpp.htm
Drug
war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt
banksters PF Louis | The hypocrisy of the war on drugs is centers on
the amount of drug trafficking that benefits the CIA and international banking
system. Natural
News February 1, 2012 [ http://albertpeia/americangovernmentdrugtrafficking.htm http://albertpeia/americascorruptiondrugtrade.htm http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ] ‘The
hypocrisy of the war on drugs is outrageous when compared to the amount of drug
trafficking that benefits the CIA and international banking system. The son of
a convicted notorious mobster, John Gotti Jr, when asked in court if the family
still dealt drugs cracked, “No, we can’t compete with the government.”
http://albertpeia.com/3real2.png
http://albertpeia.com/3real3.png
http://albertpeia.com/3real4.png
I
Can’t Take It Anymore! When Will The Government Quit Putting Out Fraudulent
Employment Statistics? http://theeconomiccollapseblog.com http://albertpeia.com/governmentfraudulentemploymentstats.htm
News
Flash: The Rally Is Over…For Now The Wall Street Journal
‘..That’s enough of a pullback for Mr. Arbeter to call a near-term top. He sees
the S&P 500 tumbling into the 1290 to 1320 range by early March, with tech
stocks as the ”most overbought and vulnerable to some profit taking.”..’This Is What An Economic Depression Looks Like In The
21st Century http://theeconomiccollapseblog.com http://albertpeia.com/21centurydepressiongreecedusup.htm
3-27-12
http://www.albertpeia.com/whitesvictimizedbyblacks.htm
Dave’s Daily: http://www.etfdigest.com BERNANKE IN ABC
[ To the contrary, because of his policies and
particularly the bailouts which facilitated consummation of and even greater
frauds, the real economy, the nation, taxpayers will suffer a more severe fate
than even that obfuscated by bad policy in this election-year expedience! ‘…
When the last financial crisis began, the
‘Federal
Reserve Chairman Ben Bernanke claims that the Federal Reserve averted a second
Great Depression by bailing out the big Wall Street banks during the last
financial crisis, and he says that if a similar financial crisis comes along
that the correct "policy response" will be to do the exact same thing
again. This was the theme of the lecture that Bernanke delivered to
students at
During his lecture to the students on Tuesday,
Bernanke stated the following....
"I think the view is increasingly gaining
acceptance that without the forceful policy response that stabilized the
financial system in 2008 and early 2009, we could have had a much worse outcome
in the economy."
So what did that "forceful policy response"
entail?
Well, on slide 24 of his presentation to the
students Bernanke tells us....
• On October 10, 2008, G‐7 countries
agreed to
work together to stabilize the global
financial
system. They agreed to
– prevent the failure of systemically important
financial institutions
– ensure financial institutions’ access to
funding and
capital
– restore depositor confidence
– work to normalize credit markets
Please note that not all financial institutions got
bailed out.
In fact, hundreds of small and mid-size
It was only the "systemically important
financial institutions" that got bailed out.
So who decided which financial institutions were
important enough to be bailed out?
The Federal Reserve made those decisions. There were
no Congressional votes and no input from the public. The Federal Reserve
determined who the winners and the losers would be in secret and without any
public debate.
Sure sounds "democratic", eh?
But we are told to trust them because they are supposedly the
experts.
So once the Federal Reserve bailed out the "too
big to fail" banks, what was the outcome?
On page 25 of his presentation to the students
Bernanke claimed that the bailouts successfully prevented the global financial
system from collapsing....
• The international policy response averted the
collapse of the global financial system.
But it wasn't just big Wall Street banks that got
bailed out. Bernanke says that AIG was also bailed out because the
insurance company was deemed to be too "interconnected with many other
parts of the global financial system" to be allowed to fail....
Because AIG was interconnected with many other parts
of the global financial system, its failure would have had a massive effect on
other financial firms and markets.
Once again, we see that it is the Federal Reserve who
picks the winners and the losers.
AIG got bailed out and was then able to pay 100 cents
on the dollar of what it owed to Goldman Sachs.
That sure worked out well for Goldman Sachs.
In all, the Federal Reserve issued a grand total of more than 16 trillion dollars in
secret loans during the financial crisis.
The big Wall Street banks got showered with cash
while hundreds of smaller banks were allowed to die like dogs.
The fact that the Fed greatly favors the big Wall
Street banks has allowed them to grow massively in size and in power.
Back in 1970, the 5 biggest
Today, the 5 biggest
The "too big to fail" banks just keep
getting bigger and bigger and bigger.
Yet during his
presentation to the students, Bernanke tried to talk out of both sides of
his mouth by claiming that it is not a good thing for some banks to be
"too big to fail"....
"But clearly, it is something fundamentally
wrong with a system in which some companies are 'too big to fail.'"
So who is to blame for them being so big?
Well, the Federal Reserve is probably the biggest
culprit.
Thanks Bernanke.
The big Wall Street banks are bigger than ever and
they are also more unstable than ever.
According to the Comptroller of the Currency, the
biggest
JPMorgan Chase - $70.1 Trillion
Citibank - $52.1 Trillion
Bank of
Goldman Sachs - $44.2 Trillion
So what is going to happen when that bubble pops?
Is Bernanke going to zap tens of trillions of dollars
into existence to bail out that gigantic mess?
Meanwhile, the debt bubble that we are all living in
just keeps exploding in size.
Total student loan debt in the
The American people are not in better financial
condition than they were during the last financial crisis. In fact, they
are significantly worse off.
All over
And the
When the last financial crisis began, the
Today, it has risen to 15.5 trillion dollars.
So Bernanke did not fix anything.
The best that can be said is that he kicked the can
down the road a little bit and made our long-term financial problems a lot
worse at the same time.
Bernanke can create money out of thin air and loan it
to his friends all he wants, but he is not going to be able to prevent this
house of cards from crashing down indefinitely.
So grab a bucket of popcorn and get ready. The
next few years are going to be fascinating to watch.
March 26,
2012 By gpc1981
The markets will likely try to rally this week based
on the following items:
1) End of quarter performance gaming
2) Last week’s weak stock performance
3) Angela Merkel signaling that
4) Bernanke’s hint that more QE is coming
in April in this morning’s speech
#1 is a regular phenomenon in the markets and needs
not be explained. #2 is closely tied in with the latest policy of verbal
intervention on the part of the Fed: any time stocks weaken some Fed official,
usually Charles Evans of Chicago or Bill Dudley of New York, gives a speech
suggesting more easing is just around the corner and VOOM! stocks take off
again.
#3 is just the next step in Germany trying to hold
the EU together long enough to see how the French elections turn out in April/
May. Given that Merkel’s political ratings drop like a stone any time she
spends more German money and explode higher any time she plays hardball with
the EU, we can take this move to be mainly posturing and playing for time.
Indeed,
A few facts about Hollande:
1) He just proposed raising tax rates on
high-income earners from 41% to 75%.
2) He wants to lower the retirement age
to 60.
3) He completely goes against the recent
new EU fiscal requirements Merkel just convinced 17 EU members to agree to and
has promised to try and renegotiate them to be looser.
So Merkel knows that if Hollande wins in
Finally, Bailout Ben Bernanke just hinted at more QE
in his speech at the National Association for Business Economics this morning.
With gas prices at $4 and food prices not far off from their all time
highs, I cannot see how Bernanke can possibly unveil more QE without unleashing
major political outrage and destroying Obama’s chances at re-election (Obama did re-elect Bernanke as Fed Chairman).
So I view this hint as more posturing from Bernanke.
He likely is aware that seasonal adjustments have made all economic data from
the last three months look better than reality and is simply trying to prep the
markets for what’s likely going to be a slew of bad data started in 2Q12. We
also have to note that stocks took it on the chin last week, so Bernanke could
very well be maintaining item #1 on the list above: verbally intervening to
keep the markets up.
Big picture: the markets are being held together via
a very tenuous balancing act on the part of EU leaders and the world Central
Banks. The short-term bias will be bullish due to the factors listed above. But
big trouble is lurking just beneath the surface. And should anything upset the
current balance being maintained, we could see some real fireworks in the
markets in short order.
Indeed, we are facing a confluence of negative
factors regarding Europe (political, monetary, fundamental, and technical) that
indicate BIG TROUBLE could be hitting in May-June, if you’re looking for actionable
investment strategies on how to play these themes in the markets I suggest
checking out my Private Wealth Advisory newsletter…’
Durden 3-27-12
Following the May 2010 flash crash, the investing public
hoped that as part of its "exhaustive report", the SEC would find and
hold responsible the various components of a broken market structure, be it
HFTs, ETFs, stubbing and sub-pennying algorithms, and all the other knowns and
unknowns we have covered over the years. Instead, in what would prove to be a
move of cataclysmic stupidity (if sadly understandable - the SEC, like everyone
else "in charge" is used to dealing with a gullible and simplistic
public, which has no access to the real data and analysis, and whose opinion
could be easily manipulated, at least until now), the regulator blamed and
scapegoated it all on a Waddell and Reed trade (we wonder just what the quid
pro quo was to get the asset manager to roll over and take the blame despite
protestations to the contrary, at least in the beginning). The result was that
the same investing public realized that market structure is so corrupt, and so
robotically mutated, there is no place for the small investor in this broken
market. Last week's BATS IPO fiasco merely confirmed this. And as usual, BATS
(whose chairman
Ratterman has just been demoted even as he stays on as CEO) decided to take
the "passive voice" approach and blame it all on a faceless,
emotionless, motiveless "software
glitch". Just like that perfectly innocuous BSOD we have all grown to
love and expect any minute. Only it wasn't. To get to the bottom of what really
happened, in a world in which the SEC is far more interested in finding the
latest discount internet porn stream than actually protecting the small
investor, we relied on our friends from Nanex, who have time and again proven
to have a far better grasp of what it is that really happens in the market than
virtually anyone else. And if Nanex' interpretation of events is correct
(spoiler alert - it was not a "software glitch") it takes SkyNet wars
from the silver screen and to a trading terminal near you. What happened is that a malicious, 100%
intentional Nasdaq algorithm purposefully brought BATS stock to a price of
0.00 within 900 millisecond of the company's break for trading! This is open
SkyNet warfare.
Durden 3-27-12
It is rather surprising that in a world in which
anything and everything is only about money, it is next to impossible to find a
consolidated balance sheet of the world's insolvent economies (i.e., the
developed countries: US, Japan and the Euro Area). So for all those seeking a
visual presentation of all the liabilities that have to be inflated away by the
central banks (because that's what this is all about), rejoice: the broke world is presented below in its glory.
The irony is that the problem would be quite fixable if it weren't for one
minor issue: the bulk of the world's
assets also happen to be its liabilities! At the end of the
day, this may prove to be the fatal flaw in the chairman's attempt to dilute
the global liabilities, he will be doing the same with the assets.
Durden 3-27-12
A prevalent theme over the past 3 months has been the
emergence of the Schrödinger world, where on one hand we have a world as it is,
and on the other, as central planners, propaganda media, and a president caught
up in a reelection campaign would want it
to be. Luckily, that world
only had a binary bifurcation associated to it - and a simple observation of
the mythical collapsed its wave function in less time than it would take BATS
to commit corporate suicide. A much more fun world emerges when one
enters the superstring reality of the Federal Reserve, and especially its chairman,
where there are not two, not three, but a whopping six dimensions of
(mis)perception, all dependent on one's point of view. Courtesy of
Durden 3-27-12
'The current rally is running long; equities are due
for a 3-5% pull-back' is how Deutsche Bank begins to give some context to the
scale of the performance of stocks over the last four months. Whether it be
liquidity-fueled optimism, optically-pleasing macro data, crisis-fatigue, or
just good old-fashioned back-up-the-truck-we're-all-in buying since the last
10% correction in November, the S&P
500 has rallied 22% - essentially unimpeded for 80 days without a drawdown.
In between 5% selloffs, the median rise
in the S&P 500 is 10% and the duration is 56 days so this current rally is
indeed getting long in the tooth (with a 2.5% retracement the
best the bears have managed in 2012). To get a better sense of how equities may
perform after such a big rally, Deutsche identifies 8 similar cases to the
current one when a 10%+ drawdown was followed by a 15%+ recovery: Jul-50,
May-70, Dec-74, Aug-98, Sep-01, Oct-02, Feb-03 and Mar-09. At the same point in
the rally (i.e. after 3mo), the market continued to grind higher the next 3
months by 4% on average. So a move of
this size and velocity (and smoothness) has only occurred 7 times in the
history of the S&P 500 and a quick glance at some of those
dates marks some notable periods in US economics (and global geopolitics).
Durden 3-27-12
Have you wondered what really drives
consumer confidence? The answer is simple. Jobs. If consumers are to be
confident about their future, they need to feel secure in the present and
future employment. The chart shows (gold bar) the confidence gap, which is the
difference between the present situation index and the future expectations
index. The red and blue lines are the number of individuals surveyed who feel
that jobs are currently hard to get or plentiful. When confidence is high, so
are the number of people who feel that jobs are plentiful. This is generally
because they are currently employed and feel like they could get another job if
they wanted one. The opposite is true today. This gap between jobs being hard
to get and plentiful has closed slightly in the last couple of years; however,
we are a long way from getting back to levels that are more normally associated
with recoveries.
Durden 3-27-12
A relatively quiet day after the excitement of the
last few as T+3 settlement day into Quarter-end bought little action until the
last hour or so. Two main themes appeared for the whole day - VIX pushed higher all day - notably
more than the equity move would suggest (which is interesting given our
comments on the capitulative normalization of the short-end volatility term
structure yesterday) though some looked like catch up to yesterday's blow-off,
and Treasuries rallied consistently all
day long (with the short-end notably outperforming - as 5Y also
down through its 200DMA and saw its largest percentage drop in yield in 2
months). Stocks leaked lower
from an early morning spike on German Ifo (stuck in a very narrow range for
much of the US day session), FX markets
were dull with JPY stable at its lows while the USD rallied very modestly (dragging
FX carry off a little and not supporting risk), Oil wavered around with the USD once again (ending up a
little) as metal traded lower
with a bigger gap down into the last hour or so. Stocks remain notably rich to credit which underperformed once
again today. The last hour saw financials and Discretionary stocks start to
rollover and then Tech (mainly the majors as GOOG showed the biggest drop
top-to-bottom but most did not close strong - though AAPL made new highs once
again). Certainly did not seem like a confirming move today of the 35pt rally
off Friday's lows as perhaps Quarter-End sees some chips coming off the table -
though hard to read too much into today's action.
Durden 3-27-12
During February and the first week or two of March,
Individual Tax Refunds were running notably ahead of 2011 comparable data. More
importantly, after a slow start, the rapid increase in refunds could have
perhaps helped buffer the initial gas-price-related 'tax-hike' consumers were concerned
about and yet not showing up in retail sales. However, as Stone & McCarthy
notes today, the IRS reports that the
dollar volume of individual income tax refund issuance lost ground once again
to last-year's pace - now down 1% YoY (compared to being up 5.2% in
mid-February). 4.3% more tax returns have been received and
2.6% more have been processed at this time compared to last year - and yet the average size of tax refunds are down 2.9% YoY
even as the number of refunds is higher. It is perhaps a little premature to
forecast the entire tax season, but, for now, what looked like a promising fillip for the consumer as tax refunds
provided some extra spending power, appears to be slowing rapidly
and removing yet another albeit small bowl of stimulus grool from the
consumer's bowl.
RANSquawk Video
3-27-12
Durden 3-27-12
While much has been made of the public side the ECB's
money-printing facade whereby any and every piece of junk collateral can be
lodged with the lender-of-first-last-and-only-resort in return for shiny new
Euros to spend on government bonds (or save as the case seems to be), there is
another facility - the Emergency Liquidity Assistance program (ELA) - that
skirts under the radar.
As Goldman notes today, the ELA enables
the National Central Banks (NCBs) to provide 'liquidity' beyond and above the
regular refinancing operations. While the amounts are not quite
on the scale of the LTRO, they are large and continue to play a crucial role in
stabilizing certain segments of the Euro area banking sector. But, of course,
as seems always to be the case, the unintended
consequence of this temporary emergency facility is that it appears to have
become a permanent facility. This consequence has two rather
ugly consequences, it removes still further collateral (assets encumbered) from bank balance sheets
and further delays the needed
adjustment process (read deleveraging) across the banking
sector.
Durden 3-27-12
While the previous two lectures have had a clear
message - Central Banks good, Gold Standard bad, Stability Only Through Central
Planning - today's lecture, while unequivocally net positive for the staggering
power of the Fed to do what it wants, was less focused. With only one use of
the words 'CDO' and 'Save'-the-world, Bernanke focused on the threat of
Depression (14 times) and the world-ending 'M.A.D.-bringing' event that would
have been the end of AIG (29 times!). With the word mortgage dominant (75
times) and 'Fail' bandied around 33 times, it is clear where Bernanke sees the
blame and how the saving of AIG truly was a Flash Gordon moment. Nowhere is this bias better indicated than the 9 uses
of the 'People' compared to the 104 uses of the word 'Bank' and
should you feel that this was a 'save' by the Fed, the word 'Rescue' does not appear once during the 11,431 word
diatribe.
Durden 3-27-12
This chart tells millions of stories. That’s right: since 1984 (surely an appropriate year) while the
elderly have grown their wealth in nominal terms, the young are much worse off
both in inflation-adjusted terms, as well as nominal terms (pretty
hard to believe given that the money supply has expanded eightfold in the intervening years). So
why are the elderly doing over fifty times better than the young when they were
only doing ten times better before? There is enough money to keep the economy
flowing so long as there are
opportunities for people to make themselves useful in a way that pays.
With the crushing burden of overregulation and the problem of barriers to
entry, these opportunities are often restricted to large corporations. These
issues of youth unemployment and growing inequality between the generations are
critically important. Unemployed
and poor swathes of youth have a habit of creating volatility in response to
restricted economic opportunity.
Durden 3-27-12
John Taylor, of the Taylor-Rule, who has not been
sheepish with his views towards the Fed openly questioned the Fed's
independence during a speech to the Joint Economic Committee today. During his
testimony at the hearing on the 'Sound Dollar Act of 2012', Taylor noted:
"The discretionary interventions
of the Federal Reserve have been ratcheted up in such unprecedented ways in
recent years that they raise fundamental questions about the future of monetary
policy." Perhaps more pointedly, especially given
Bernanke's speech today on the Fed's extreme actions and given the hope for a
constant interventionist role for the Fed to keep our economy market
afloat "The fact that the Fed can, if it chooses, intervene without limit
into any credit market - raises more uncertainty, and of course raises questions about why an independent agency of
government should have such power."
Durden 3-27-12
Much has been made of the lack of retail
participation in the casino equity market rally of the last few months
(and few years for that matter). Whether it is a signal of the individual
investor's overly anxious nature and only the pros 'get it' or more likely this
is the end of the baby-boomer-driven
secular savings and investment bonanza is perhaps more likely
as a nation of soon-to-be-retirees rotate from massive-drawdown-inducing stocks
(no matter how diversified your group of trees, when the tornado hits the
forest, they all fall down) to the relative (low-drawdown) safety (and steady
income) of fixed income. Nowhere is
this 'its different this time' secular shift more evident than in cumulative
fund flows.
Durden 3-27-12
The labor data since last fall has been rather
encouraging, writes UBS' Art Cashin
in a note today. However, he is
skeptical at this reality, agreeing with "lots of folks
[who] think it may be the warm winter weather that accounts for it." The
warm weather allows for construction (and other outdoor industries) to start
p[rojects earlier than planned and also avoids the short shutdowns that winter
storms often cause in Jan and Feb. While Art believes the weather could be a
significant impact on the positivity, and suspects the follow-through will be
disappointing (a la Bernanke), he also notes (as we have commented numerous
times) that perhaps it is the
distortions in seasonal adjustments that have become warped in
the post-Lehman collapse era.
Durden 3-27-12
$105,637
for Me, $80 for You! : ilene : 03/27/2012 Reflections from the top.
Huawei
(or China) Slams into US National Security Concerns, Again : testosteronepit : 03/27/2012 Another
deal gets dissolved. But threats abound. And it's only going to get worse.
THe
WiDeNiNG FIAT GYRe (THe CeNTRaL BaNKeR CaNNoT HoLD) : williambanzai7 : 03/27/2012 And what
rough beast, its hour come round at last, Slouches towards Maiden Lane to be
reborn?
Durden 3-27-12
UPDATE (via
Bloomberg): *BERNANKE: `FORCEFUL' RESPONSE PREVENTED WORSE RECESSION and AIG
HAS STABILIZED - phewee...
Today could be the day when all your beliefs and
misconceptions of the great central banking machine are set straight. After
explaining to us in the previous two lecture how the gold standard is just
silly, why central banks are constitutionally awesome, and how the Fed almost
single-handedly created the
Durden 3-27-12
In a brief but as usual succinct statement, MEP Daniel Hannan points out the
country that decided to say no to establishment-rules and stuck to its guns by
taking losses, devaluing its currency, and growing its way out of its pit of
despair. The eloquent Englishman notes Iceland's
current enviable position in terms of not just growth but Debt to GDP
and proffers upon his European Parliamentarian peers that perhaps, just
perhaps, there is a lesson in here for
all European governments (cough Greece/Portugal cough). 67% of
'shrewd and canny' Icelanders are now against joining the Euro.
Durden 3-27-12
As if the 'risk-less' dollar-swaps the Fed has
extended to any and every major central bank were not enough, William Dudley
just unashamedly admitted that the Fed
now holds 'a very small amount of European Sovereign Debt'.
Explaining this position, as Bloomberg notes:
Dudley, testifying to a House panel, noted that he
doesn't see more efforts by the Fed to buffer the
Durden 3-27-12
With today's less than stellar consumer confidence
number and continued path of missed expectations on key macro data over the
past few weeks, it is perhaps wondrous that our brain-trust of analysts and economists continue to forecast higher
expectations across the board. While this may not come as a
surprise to readers used to comprehending the magic of the Birinyi ruler's
extrapolation and the inevitable and clockwork 'miss' of turning points of any
and every educated talking-heads model, this chart from Deutsche Bank's asset
allocation group should contextualize where we are actually versus where
LaVorgna and friends see us going. The sad truth is - we have seen this play
out again and again and as the printing-press-pressure
drives up asset prices (providing confirmation bias upon anchoring bias for any
and every economist or long-only manager quoting the 'recovery' or decoupling),
the truth is that as prices (and expectations) distend from value and actual
reality, the central bank's efforts to 'maintain' the status quo simply create a larger and larger vacuum for asset prices to
fall through when sad reality is finally peeked.
Durden 3-27-12
Law-abiding taxpayers are treated like criminals
while the criminal class of financiers and State apparatchiks are free to loot
and pillage muppets and taxpayers alike. It's actually very simple: whatever the state or Federal government does to you,
that's legal. Whatever action you take to protect your rights
is illegal. In case you have any doubts about where our "leadership"
is taking us, please review these Assorted quotes by
Fascists or about Fascism.
Durden 3-27-12
Consumer Confidence fell for only the second time
since this unerring rally began and basically met expectations but it is under
the covers that is concerning. Expectations
for high inflation in the next six months has reached its highest level in six
months jumping considerably from the previous month. Combine
this with the overall drop in the expectations
subindex of the consumer confidence index which fell for the first time in 5
months and all is not well in the 'stocks are going up so we are all doing great and the economy must be
awesome'-transmission mechanism. On top of this wonderful news, the
Durden 3-27-12
"The statistical component of the European
Union, Eurostat, is quite clear; they do not count guarantees or contingent
liabilities as part of any nation’s debt. We might all note that if Nestle or
IBM or General Electric did this they would find their senior executives jailed
for Fraud but never mind; this is the methodology of the EU which quite
obviously masks the truth. The problem then is not the simple math used to
obtain a more accurate debt to GDP ratio but in digging out the various
guarantees, contingent liabilities and obligations of any member nation of the
European Union. “Time consuming” would be the accurate words because you have
to sleuth around like Sherlock Holmes to come up with the data. Yes, it is all
there somewhere or another but it is nowhere all together and so must be
found." And as Mark Grant points out what we noted last
July, when one factors in all the various guarantees and contingent
liabilites by
Durden 3-27-12
The Turkish central bank has doubled the amount of
gold that lenders can hold in reserves (as opposed to paper money - Lira) as
part of their reserve requirement changes. As the WSJ reports,
this shift from 10% to 20% means that Turkish
banks can use their shiny yellow metal as fungible money reserves against
foreign currency deposits. This move follows closely on the
heels of our comments on last
week's 'gold transfer' efforts in lesson
reality-check for Bernanke that gold is money and in the words of a 70-year-old
housewife "In an emergency, I can
convert [gold] to cash and I don't have to wait for the bank to say the asset
has matured." It would seem a better store of value than the
Lira over the past decade or two and we suspect incentives will have to rise
considerably to 'help' the people part with their savings-gold.
Durden 3-27-12
Despite January being the first of 3 record warm
winter months, which saw virtually all other economic indicators boosted on the
heels of 'April in February', today's incomplete Case Shiller data (Charlotte,
NA was missing), indicated that in the first month of the year, prices across
the top 20 MSAs dropped once again, posting a 9th consecutive decline,
declining by 0.04% to 136.60. The Seasonally Adjusted print brings the average
home price to December 2002 levels. And just to avoid Seasonal Adjustment
confusion which courtesy of a record warm winter is all the rage, the NSA data
showed a -0.84% drop in January.
Durden 3-27-12
First it was Bob Janjuah throwing in the towel in the
face of central planning, now we get the same sense from Bill Gross who in his
latest letter once again laments the forced transfer of risk from the private
to the public sector: "The game as
we all have known it appears to be over... moving for the
moment from private to public balance sheets, but even there facing investor
and political limits. Actually global
financial markets are only selectively delevering. What delevering there is, is
most visible with household balance sheets in the
Durden 3-27-12
As we head into the
Durden
3-27-12 after yesterday’s Bernanke QE hints and today’s
urging by the OECD to boost the Eurozone ‘firewall’ by another $1.3 trillion.
Gold is consolidating on yesterday’s gains today above the 200 day moving
average (simple) at $1,687/oz after yesterday’s biggest daily gain since
January. The gains came after Ben Bernanke warned of the risks to the fragile
Durden 3-27-12 6.0+
Magnitude quake strikes near
Durden 3-27-12
Any and all negative overnight news are now
completely ignored as the scramble for risk hits the usual fever pitch
following Bernanke's latest attempt to transfer cash from safe point A to ponzi
point B, aka stocks. First, China's industrial firms suffered a rare annual
drop in profits in the first two months of 2012 mainly in petrochemicals, metals
and auto firms, the latest signs of weakness in the world's No. 2 economy and
reinforcing the case for policy easing, according to Reuters.
This was the first Jan-Feb profits downturn since Jan-Aug 2009. Profits fell
5.2 percent so far in 2012, according to the industrial profitability
indicator, published by the National Bureau of Statistics (NBS) every month.
The last period that
US
$35 bln 2-year auction awarded at 0.34% on solid 3.69 bid cover; indirect bid
34.3%.
Mar 27th, 2012 11:29 by News
Mar 27th, 2012 11:05 by News
Gold
Underpinned as Inflation Concerns Mount
27-Mar (USAGOLD) — Gold started out the week with a
positive showing, regaining the 200-day moving average on Monday. The yellow
metal was underpinned by comments from Fed chief Ben Bernanke before the NABE
that certainly favored the central bank’s current über-easy policy stance, but
the market interpreted his speech as a very strong hint at QE3. Not
surprisingly, in the face of the recent retreat in the stock market, investors
are very eager to jump on anything that smacks even remotely of further Fed accommodations.
And true to form, the stock market — along with gold — rallied smartly on
Monday.
While gold remains generally well bid today, some
less than encouraging economic data has sapped a bit of the euphoria from
shares. The Case-Shiller home price index posted its ninth consecutive monthly
decline, returning the average home to a valuation not seen since early-2003.
Additionally, the recent rise in consumer confidence faltered in March,
suggesting that just maybe Americans are beginning to realize that every
confidence inspiring gain in their stock portfolio is being offset by another
decline in their home’s value.
In my opinion, the recent string of disappointing
housing market data are probably more likely to result in further Fed asset
purchases (in the form of mortgage backed securities) than any modest retreat
in stocks. Nonetheless, the decline in consumer confidence is partially
attributable to rising inflation expectations, which reached their highest
level since May of last year. The Conference Board reported that 12-month
inflation expectations jumped from 5.5% in February to 6.3% in March.
So even as talk of QE3 is escalating once again, so
are inflation fears. Yet, inflation is exactly what the Fed tells us we need,
because they view deflation as a far greater risk. So if it’s inflation the Fed
wants…inflation we shall have…
In PIMCO’s April Investment Outlook released today,
entitled The
Great Escape: Delivering in a Delevering World, bond guru Bill Gross once
again took note of inflation’s bite into the real returns of the more
traditional asset classes. Gross pointed out that, “Unless you want to earn an
inflation adjusted return of minus 2-3% as offered by Treasury bills, then you
must take risk in some form.”
As we’ve pointed out on numerous occasions, as long
as real interest rates remain negative, the outlook for gold will remain
positive. Among Gross’ favored asset classes for a “delevering world” are
“inflation sensitive, supply constrained products.” There aren’t too many
assets more “inflation sensitive” than gold.
• US Richmond Fed Index tumbles to 7 in Mar, well
below market expectations of 18, vs 20 in Feb.
• US consumer confidence fell to 70.2 in Mar, just above market expectations of
70.0, vs upward revised 71.6 in Feb.
• US S&P/Case-Shiller home prices -0.8% (nsa) in Jan for 20-cities, 9th
consecutive monthly decline.
• Germany GfK consumer confidence ticks lower to 5.9 in Apr, below expectations
of 6.1, vs 6.0 in Mar.
• Germany import price index +1.0% m/m in Feb, in-line with expectations, vs
+1.3% in Jan; +3.5% y/y, also in-line.
•
•
Operation
Twist: New York Fed purchases $1.969 billion in Treasury coupons.
Mar 27th, 2012 09:29 by News
Turkey
Raises Gold Deposit Allocation For Banks To Ease Liquidity Squeeze
Mar 27th, 2012 09:19 by News
27-Mar (Dow Jones) — Turkey’s central bank Tuesday
doubled the amount of lira reserve requirements lenders could hold in gold, in
a technical move that could give breathing space to banks as Ankara moved to
tighten rates to shore up the lira.
In a statement accompanying the bank’s move to hold
its key policy rates steady, the monetary policy committee said banks would now
be allowed to hold up to 20% of lira deposits in gold. Banks would no longer
need to keep any foreign currency deposits in gold, the lender said, abandoning
a previous 10% limit.
…Tuesday’s move also tallies with recent efforts by
the Turkish government to persuade Turks to transfer their vast personal
holdings of gold into the country’s banking system.
[source]
27-Mar (ZeroHedge) — The Turkish central bank has
doubled the amount of gold that lenders can hold in reserves (as opposed to
paper money – Lira) as part of their reserve requirement changes. As the WSJ
reports, this shift from 10% to 20% means that Turkish banks can use their shiny yellow metal as fungible money
reserves against foreign currency deposits.
March
consumer confidence dips, inflation view up
Mar 27th, 2012 09:02 by News
27-Mar (Reuters) — Consumer confidence dipped in
March, while Americans ratcheted up their inflation expectations to the highest level in 10 months,
according to a private sector report released on Tuesday.
The Conference Board, an industry group, said its
index of consumer attitudes eased to 70.2 from an upwardly revised 71.6 the
month before. Economists had expected a reading of 70.3, according to a Reuters
poll.
…Expectations for inflation in the coming 12 months
jumped to 6.3 percent from 5.5 percent. It was the highest level since May
2011.
[source]
PG View: Because if the Fed says inflation is what we
need…inflation is what we shall have…
House Dems
introduce $3.6T budget plan
Mar 27th, 2012 08:35 by News
27-Mar (The Hill) — House Democrats on Monday night
introduced their 2013 budget plan to compete with the Republicans’ proposal on
the chamber floor this week.
Sponsored by Rep. Chris Van Hollen (
The proposal adopts much of President Obama’s
job-creation agenda, including tens of billions of dollars for near-term
stimulus spending on infrastructure and other federal programs, while keeping
Medicare and other entitlement benefits largely intact. The budget adds $6 trillion to deficits over 10 years,
compared to $6.4 trillion for the president. It contains $643 billion less in
spending, and $219 billion less in revenue.
[source]
US
Richmond Fed Index tumbles to 7 in Mar, well below market expectations of 18,
vs 20 in Feb.
Mar 27th, 2012 08:15 by News
Mar 27th, 2012 08:11 by News
Mar 27th, 2012 07:41 by News
27-Mar (The Wall Street Journal) — U.S. home prices
fell in January from a month earlier, hitting new lows, with average home prices back to the levels they were
nearly a decade ago in early 2003, according to Standard &
Poor’s Case-Shiller home-price indexes.
“Despite some positive economic signs, home prices
continued to drop,” said David Blitzer, chairman of S&P’s index committee.
The Case-Shiller index of 10 major metropolitan areas and the 20-city index now
stand roughly 34% below their 2006 peaks, he said.
The
[source]
US
S&P/Case-Shiller home prices -0.8% (nsa) in Jan for 20-cities, 9th
consecutive monthly decline.
Mar 27th, 2012 07:34 by News
O.E.C.D.
Chief Urges Europe to Increase Euro Firewall to 1 Trillion Euros
Mar 27th, 2012 06:52 by News
27-Mar — The European Union must increase its
financial firewall to €1 trillion to restore market confidence in the euro zone
and prevent the spread of fiscal contagion, the head of the Organization for
Economic Cooperation and Development, Angel Gurría, said Tuesday.
Mr. Gurría’s comments came a day after
“The mother of all firewalls should be in place,” Mr.
Gurría told a news conference Tuesday morning in
[source]
PG View: You don’t
build “the mother of all firewalls” unless you think there is still the risk of
the mother of all fires…
Miscellaneous Business Headlines
27-Mar-12 08:44PM Barclays Gas Note Joins ETN Minefield ETFguide 08:18PM Train Reading: Apple At $600. Who Knew? at The Wall Street Journal 06:26PM Your First Move for Wednesday, March 28 at CNBC 05:45PM Bernanke Tells ABC Economic Recovery Has 'Long Way To Go' at The Wall Street Journal 05:31PM Tomorrow's Tape: Get Set For Durable Goods Orders at The Wall Street Journal 05:09PM U.S. Economy Weaker Than Government Data Show TrimTabs at The Wall Street Journal 05:00PM Minyanville's T3 Daily Recap: Market Turns Red in Last Hour
After Quiet Day at Minyanville
04:48PM Fund Flows Say 'More Banks' As Quarter End Draws Closer at Barrons.com 04:37PM Stocks Succumb to Late Selling at
The Wall Street Journal 04:30PM The Ubiquitous Mr. Bernanke at
The Wall Street Journal 04:19PM Consumer Concerns Shift From Jobs to Gas Prices at The Wall Street Journal 04:00PM MARKETS FALL AFTER LATE SELL-OFF: Here's What You Need To Know
Business Insider 03:26PM Fund Flows Say 'More Banks' As Quarter End Draws Closer at Barrons.com 03:24PM InPlay: Stock indices
falter during final hour -- Dow -18, S&P -1.3, Nasdaq Comp +5.1 Briefing.com 03:20PM Hawk v. Dove: Speeches Offer Competing Views Over Fed Stimulus
at The Wall Street Journal
03:11PM BofA on Small-Cap Stocks: Sell in March and Go Away? at The Wall Street Journal 03:03PM Fed's Rosengren: More Stimulus Is Still on the Table at The Wall Street Journal 02:45PM BofA on Small-Cap Stocks: Sell in March and Go Away? at The Wall Street Journal 02:19PM InPlay: Minor new high
Nasdaq Comp +10, Dow +3.2 and S&P +1.2 still range bound Briefing.com 02:04PM Former Fed Governor Warns of Dangers of Proposed Reforms at The Wall Street Journal 01:50PM Midday Market Report: Consumer Confidence Dips, Stocks Barely
Budge at Minyanville 01:43PM
Another Tool for Your Box at
TheStreet 01:27PM InPlay: Stock indices flirt with lower end of tight ranges --
Dow -10, S&P -0.8, Nasdaq Comp +5.2 Briefing.com
01:26PM U.S. Sells 2-Year Notes at Highest Yield Since July at The Wall Street Journal 01:21PM Stocks, Beauty Pageants Are Birds of a Feather at The Wall Street Journal
01:06PM What Next for BATS? at The Wall
Street Journal 12:39PM Foreign Banks Borrowing Fewer Dollars at The Wall Street Journal 12:38PM InPlay: Stock indices
remain narrowly confined but edging toward upper end of ranges -- Dow +7.6,
S&P +1.2, Nasdaq Comp +6.8 Briefing.com
11:43AM VIX Traders Revving Up For A Hairier Few Months at The Wall Street Journal 11:40AM 9 Weeks to Better Options Trading: Butterfly Spreads at Minyanville 11:29AM Watch Live: Bernanke Lecture on Financial Crisis at The Wall Street Journal 11:27AM Index, ETF option volumes near midday optionMONSTER 11:18AM [video] Trader: A Correction Would Be Healthy at TheStreet 11:12AM Secondary Sources: Student Loans, Entrepreneurship, Labor
Market at The Wall Street Journal
11:08AM Consumer Confidence Slips a Bit, Stocks Roughly Flat at The Wall Street Journal 10:46AM The Bulls Try to Bum Rush Quarter-End at Minyanville 10:17AM Fed Has Done Enough to Protect U.S. From Europe, Official Says
at The Wall Street Journal
09:55AM S&P Case/Shiller: Home Prices Back to 2003 Levels at The Wall Street Journal 09:40AM InPlay: Limited but
slightly favorable bias for stock indices -- Dow +9, S&P +1, Nasdaq Comp
+0.9 Briefing.com 09:40AM Are Technicals About to Go Bounty Hunting? at Minyanville 09:34AM A Look at Case-Shiller by Metro Area at The Wall Street Journal 09:25AM Minyanville's T3 Morning Market Call: Futures Fade After Strong
Monday Rally at Minyanville
09:24AM Morning Links: QE3 Definitely Not Off the Table at The Wall Street Journal 09:10AM One of Wall Street's Biggest Bulls Expects a Pullback at The Wall Street Journal 09:10AM Pre-Market Primer: US Futures Flat Ahead of Consumer
Confidence, Home Prices at Minyanville
08:57AM Vital Signs: Pending Home Sales at
The Wall Street Journal 08:50AM Has High-Frequency Trading Destabilized Markets? at Minyanville 08:48AM Walgreens Earnings: Streak of Two Straight Quarters of
Shrinking Margins Broken, but Profit Falls at Wall
St. Cheat Sheet 07:56AM [video] Fed Adds Gains to First-Quarter Results at TheStreet
CNNMoney | Home
prices have fallen a whopping 34.4% from the peak set in July, 2006.
Don’t be fooled
by the money illusion
MarketWatch | Rising
prices are making some statistics look better than they really are.
Doug Casey | People
should be cutting expenses to the bone.
Turkey
Once Again Proves That Gold Is First And Foremost Money
Zero Hedge | The
Turkish central bank has doubled the amount of gold that lenders can hold in
reserves (as opposed to paper money – Lira) as part of their reserve
requirement changes.
Obama
Requests $770 Million to Fight Global Warming Overseas
CNS News | The Obama administration has
requested $770 million in federal funds to combat the effects of global warming
in developing countries.
The
Great Student Loan Debt Default: Over $270 Billion in Loans Are 30 Days Or More
Past Due
Mac Slavo | Like the housing bubble, which was
predicated on easy money and rising prices, student loan lending has increased
to unprecedented levels over the last decade.
(3-27-12) Dow
13,197
-44 Nasdaq 3,120 -2 S&P 500
1,413 -4 http://albertpeia.com/todaysbusinesssummarylinks.htm
[CLOSE- OIL $106.92 (-54% for year 2008)
(RECORD TRADING HIGH $147.27) GAS
$3.86 (**The BTU-adjusted price of E-85 is the nationwide average price of E-85
adjusted to reflect the lower energy content as expressed in British Thermal
Units - and hence miles per gallon - available in a gallon of E-85 as compared
to the same volume of conventional gasoline…’ so adjusted=$4.00 – higher real
than quoted price for respective states including CA, infra – another
manipulation for the ‘feel good’ effect despite the inflationary over-printing
of weimar dollars/currencies)(reg. gas in LAND OF FRUITS AND NUTS $4.35 REG./ $4.45
MID-GRADE/$4.55 PREM./ $4.53 DIESELL)
/ GOLD $1,680 (+24% for year 2009) / SILVER $32.58 (+47% for year 2009) /
PLATINUM $1,641 (+56% for year 2009) Metal
News for the Day / DOLLAR= .83 EURO,
75 YEN, .63 POUND STERLING, ETC. (How low can you go LOWER)/ Interest
Rates: http://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield 10 YR NOTE YIELD 2.20% AP
Business Highlights ...Yahoo
Market Update…
T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic /
International This
Is a Secular Bear Market and The End of Buy and Hold … and Hope The bull market that never was/were beyond wall
street b.s. when measured in gold
‘WORST ECONOMIC COLLAPSE EVER’ Must Read
Economic / Financial Data
This Depression is
just beginning The coming
depression… thecomingdepression.net
The
Next Wave of Collapse is Coming Sooner than you think Sliding
Back Into the Great Depression ABSOLUTELY,
ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE
TO COME!
Obama: ‘If I had a son, he’d look like Trayvon.’ [ Yeah!
He’d look just like any other nigger. And, don’t worry about the black vote,
failed president wobama the b for b***s*** will get, nearly if not all, 100% of
the nigger vote! Drudgereport: Farrakhan
Threatens 'Retaliation'… [ Retaliation? Can you imagine the number of blacks
that would have to be retaliated against based upon the hushed reality of the
prevalence of black on white crime? The blacks should be careful what they wish
for in playing that game because the facts don’t break in their favor. ] ...
People
have become weary of making up excuses for blacks (like obama, holder, etc.).
At some point, as now, people should not be timid about relating the cold,
unvarnished truth statistically / factually about blacks and, ie., black on white violent crime, etc..
From
Pat Buchanan: As for racism, its ugliest manifestation is in
interracial crime, and especially interracial crimes of violence. Is Barack
Obama aware that while white criminals choose black victims 3 percent of the
time, black criminals choose white victims 45 percent of the time? Is Barack
aware that black-on-white rapes are 100 times more common than the reverse,
that black-on-white robberies were 139 times as common in the first three years
of this decade as the reverse? We have all heard ad nauseam from the Rev. Al
about Tawana Brawley, the Duke rape case and
http://albertpeia.com/blackonwhitecrime.htm
http://www.albertpeia.com/whitesvictimizedbyblacks.htm
The reality is that
blacks are an insoluble problem wherever they are. That’s not going to ever
change; not make-shift/make-work jobs; not programs; not anything tried or to
be tried; hence, they must be treated as exactly that – problems – before a
solution can be derived and fashioned. ]
Drudgereport:
Obama gets
personal over killing of black Florida teenager...
Urges
'soul-searching'...
More Miami
schools stage mass walk-outs...
Gingrich
calls Obama's Trayvon comments 'disgraceful'...
Cops: Man
threatened to kill police chief at center of case...
Jeb Bush:
'Stand your ground' invalid here...
Miami Heat
Players Don Hoodies...
'Dead or
Alive' Poster Issued by New Black Panther Party... [ ‘Minority
Report’ Division of Pre-Crime, Pre-Cogs say, ‘Dead or Alive – all niggers’ …
whatever the outcome in the investigative process, the stark reality is that at
least, unlike the niggers committing many more ‘black on white’ violent crimes, Zimmerman (and this is no endorsement – I
won’t be looking at this one incident all that closely) was at least trying to
do a good thing made necessary by the ever increasing number of brutal crimes
committed by the black thugs in neighborhoods across the nation; then there’s
somalian pirates, etc.. People domestically and internationally are suffering
from nigger-fatigue and are totally niggered out. Oh, yeah, there are some
'BLACK
NIGGERS [ NOT WHITES BY NIGGERS THE IMPLICATION DESPITE FACTUAL DATA TO THE
CONTRARY ] ARE UNDER ATTACK [ SAYS
NIGGER SHAKEDOWN ARTIST JACKSON] ' [ Hold on one cotton-pickin’
minute jesse, that’s not what the facts say Obama: ‘If I had a son, he’d look like Trayvon.’ [ Yeah! He’d
look just like any other nigger. And, don’t worry about the black vote, failed
president wobama the b for b***s*** will get nearly if not all, 100% of the
nigger vote! Drudgereport: Farrakhan
Threatens 'Retaliation'… [ Retaliation? Can you imagine the number of blacks
that would have to be retaliated against based upon the hushed reality of the
prevalence of black on white crime? The blacks should be careful what they wish
for in playing that game because the facts don’t break in their favor. ] ...
People have become weary of making
up excuses for blacks (like obama, holder, etc.). At some point, as now, people
should not be timid about relating the cold, unvarnished truth statistically /
factually about blacks and, ie., black
on white violent crime, etc..
From Pat Buchanan: As for
racism, its ugliest manifestation is in interracial crime, and especially interracial
crimes of violence. Is Barack Obama aware that while white criminals choose
black victims 3 percent of the time, black criminals choose white victims 45
percent of the time? Is Barack aware that black-on-white rapes are 100 times
more common than the reverse, that black-on-white robberies were 139 times as
common in the first three years of this decade as the reverse? We have all
heard ad nauseam from the Rev. Al about Tawana Brawley, the Duke rape case and
http://www.albertpeia.com/whitesvictimizedbyblacks.htm
The reality is that blacks are an
insoluble problem wherever they are. That’s not going to ever change; not
make-shift/make-work jobs; not programs; not anything tried or to be tried;
hence, they must be treated as exactly that – problems – before a solution can
be derived and fashioned. ] [ Send the
niggers, including niggerbama back to sub-saharan
EUROPE
RIDICULES OBAMA...
'Maybe
copy key got stuck on presidential speechwriter's keyboard'...
A Warning Sign For The
World http://albertpeia.com/warningsignfortheworld.htm
Any financial system that is based on debt is doomed to fail. Today, we
are living in the greatest debt bubble that the world has ever seen, and if all
of a sudden people could not use credit to buy things our economy would
immediately ground to a halt. Unfortunately, no debt bubble can last
forever. When this current debt bubble finally bursts, faith in the
financial system is going to disappear, credit is going to freeze up and there
is going to be a massive wave of bank failures.
America 1950 vs.
America 2012 http://albertpeia.com/downhillslideofamerica.htm
10.7
Percent: Unemployment In Europe Is Worse Than It Was At The Peak Of The Last
Recession http://albertpeia.com/europeunemploymentworsethanrecession.htm
http://albertpeia.com/18statseconomynotimprovedsinceobama.htm
ECRI Stays with
Recession Call New American | The vicious cycle is
starting where lower sales, lower production, lower employment and lower income
[leads] back to lower sales…BOB
ADELMANN New
American Tuesday, March 13,
2012 http://albertpeia.com/ecricallsrecession.htm
http://albertpeia.com/americabetterwithoutgoldmansachs.htm
And what do stocks do on latest S&P report that
{ Ah yes … those sweet sounds and smells of motown … the darks
coming to a place near you! }
Do you want to know what the future of
Drug
war hypocrisy: drug trafficking’s big money benefits Big Brother and corrupt
banksters PF Louis | The hypocrisy of the war on drugs is centers on
the amount of drug trafficking that benefits the CIA and international banking
system. Natural
News February 1, 2012 [ http://albertpeia/americangovernmentdrugtrafficking.htm http://albertpeia/americascorruptiondrugtrade.htm http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm http://albertpeia.com/fbimartinezcongallard.htm
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm ] ‘The
hypocrisy of the war on drugs is outrageous when compared to the amount of drug
trafficking that benefits the CIA and international banking system. The son of
a convicted notorious mobster, John Gotti Jr, when asked in court if the family
still dealt drugs cracked, “No, we can’t compete with the government.”
Today in
This doesn’t
make sense despite all the mainstream reports that American troops are
protecting the poppy farmers from the bad guys. Internet sites such as Prison Planet,
Info Wars, The Political Coffeehouse and others report otherwise. They connect
the CIA and US military to restarting the poppy fields in
The CIA’s secret operations to influence journalism
started in the 1950s by infiltrating the media and bribing journalists to be
operatives and assets for the CIA. By 1976, then CIA director William Colby
reportedly bragged that the CIA owned the press. Supposedly, this too secret to
name operation was coined “Operation Mockingbird” by Deborah Davis in her book Katherine
the Great.
Operation Mockingbird worked well against prize
winning journalist Gary Webb when his newspaper, the San Jose Mercury News,
ran his in depth series on CIA drug trafficking that flooded the USA to help
finance the CIA backed Nicaraguan Contras during the 1980s.
Journalists all over the
Webb
retaliated by having his book Dark Alliance published and making the NY
Times best seller list, forcing some of his critics to privately eat crow
after the fact.
Despite the
CIA’s control of the press, a few Mexico and Central America cocaine busts of
plane cargoes and discoveries of large cocaine stashes on crashed planes with
CIA hired pilots flying them for front companies did hit the mainstream news, albeit
briefly.
Remember the
movie “Air
When the
But opium trade history goes back further, to
colonial times and early
A few key players created family fortunes from the
China opium trade that exist today within some northeast America’s “old money”
families.
Among the familiar family names, according to Wikipedia
(source below) is Forbes. Another source mentions Astor, a prominently
wealthy philanthropic family around
Now it is illegal as well. Ironically, this allows
the biggest illicit drug providers to financially benefit the CIA and
international banking.’
Sources for this article include:
http://whatreallyhappened.com/RANCHO/POLITICS/MOCK/mockingbird.php
http://en.wikipedia.org/wiki/Forbes_family
http://en.wikipedia.org/wiki/John_Jacob_Astor
http://thepoliticalcoffeehouse.com/2011/12/01/us-military-opium-afghanistan/
http://www.minormusings.com/Drugs/Mask.html
See also:
Big Banks, Gov’ts
Collude in Drug War Hypocrisy
Much Of Afghan Drug
Money Going To ‘Our Friends’
Steady
Stream of Drug Money Departs Afghanistan, U.S. Officials Flummoxed
Afghan CIA Drug Kingpin
Shot Dead by Own Bodyguard
Afghanistan drug trade
hits $4 billion a year
Occupiers involved in
drug trade: Afghan minister
US and NATO protecting Afghan
drug trade
B.C. RCMP seize
60,000 poppy plants in record haul
NATO rejects
Russian call for Afghan poppy spraying
War
on drugs is a hoax: US admits to guarding, assisting lucrative Afghan opium
trade
UN: Afghan
opium production up by 61% under NATO’s watch
DOJ:
Drug Cartel’s Influence Extends Well Beyond Border Well Into the U.S.
RealClearMarkets
- Gary Shilling: New Global Recession Is Here (It’s
actually a depression and no nation will be spared!) http://www.marketwatch.com/story/shilling-says-new-global-recession-is-here-2012-01-20?link=MW_story_popular
By Howard Gold
2012 Update: What Part III of the financial crisis will look
like
http://www.stansberryresearch.com/pro/1108PSINEWVD/PPSIN138/PR
http://www.stansberryresearch.com
http://www.stansberryresearch.com/pro/1108PSINEWVD/PPSIN111/PR
http://www.albertpeia.com/stansberrysinvestmentadvisory.flv
http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm
'OBVIOUSLY UNSERVICEABLE DEBT TO
WEIGH ON STOCKS IN 2012’ http://www.bullfax.com/?q=node-obviously-unserviceable-debt-weigh-stocks-2012 12/23/2011 By Chris Ciovacco: Referencing Kyle Bass’ work in a
December 18 video,
we noted numerous countries have an unstable combination of debt and revenue
relative to the size of their banking system. Another excellent source for debt
sustainability analysis comes from Jeffery Gundlach, manager of the 2011
top-performing
Tough
Year For Stocks, Gold And Treasury ETFs Did Better Forbes
My
Christmas Cards Predict "Eternal Conflict" And "Economic
Disaster" Forbes Robert Lenzner ‘For the first time in my life, some Christmas
messages are weighing in about the worrisome condition of US
economy and the financial markets– as well as family news.
Obviously, the crisis we are facing is triggering disheartening
expressions of concern at holiday time.
This
from a former state finance chairman for George Bush, who is so
distressed he is staying out of the primary race.
On Jobs; ” I
wonder why our candidates have not come forward to feature as the main and
vital keystone of their campaign that sector in the economy which can create
millions of jobs and solve our huge foreign trade deficit– converting our $300
billion plus purchase of foreign oil to domestic energy– electrification of
transportation, more natural gas, nuclear, more domestic oil drilling, clean
coal, and all the domestic alternatives.”
On the
deficit: ” I have also become very disheartened with our politicians’
inability to strike a grand compromise on reducing the federal deficit.
We are considerably constrained by the Grover Norquist tax pledge signed by so
many Republicans, wherein an elimination of a tax loophole which takes the
recovered revenue and applies it to reduce debt is considered a tax increase
and therefore unacceptable. This position will never allow the Republicans to
negotiate and compromise( a noble word) with the democrats on a combination of
a massive expense reduction with a modest revenue increase.”
All this from
a conservative Republican in a key state who is utterly frustrated by “ eternal
gridlock in Washington“—
and determined to spend considerably more quality time with his family. All
this ranting in a Christmas card; it’s a first.
Then, there’s
the retired
The
Smartest Guys in the Room Are Screaming "Get Out of the Markets!" Todd Harrison http://www.minyanville.com/articles/articlelisting.htm#ixzz1hGAVUaU9
Has
the Global Economy Been Zapped by ZIRP? Minyanville Eugene Linden
Dec 21, 2011 ‘Zero interest rate policies dominate the world's largest
economies -- a situation that's contributing to the worsening pension crisis,
the unnaturally buoyant equity markets, the need for quantitative easing, and
even the bull market in gold. Read more: http://www.minyanville.com/businessmarkets/articles/zero-interest-rate-policy-zirp-us/12/21/2011/id/38513#ixzz1hFyFn7Pb Eclipsed by
Historically, examples of ZIRP are few and far between – and usually very brief
– but now ZIRP and near-ZIRP dominate the interest
rate policies for most of the world’s largest economies.
We’re in uncharted territory. More worrisome, the longer an economy embraces
ZIRP, the harder it is to extricate itself. In fact, as far as I can tell, no
one has exited extended ZIRP intact and voluntarily. Some, like Kyle Bass,
argue that once a nation gets trapped in ZIRP for an extended period, the only
escape is through debt restructuring. Others say war.
ZIRP has been the policy of the United States since 2008; it has been the
policy of Japan for most of the past two decades, and it is becoming the policy
of the ECB, at least in terms of ECB short-term funding. Currently, over two
trillion dollars of
The problem is as simple and intractable as human nature. So long as there's a
market willing to buy a government’s debt (or buyers who can be forced to buy
said debt), ZIRP offers the promise of vast new funds with virtually no
increase in carrying costs. If the problem is short-term liquidity, the theory
is that ZIRP buys the time necessary to restart growth. If the problem is
solvency, however, ZIRP is viewed as an alternative to a painful restructuring.
In that case (e.g. Japan), the rotten debts remain on the books of the banks,
hobbling the lending that is necessary for the economic growth that will enable
the central bankers to wean the economy off the drug.
Faced with little or no economic growth and anemic tax receipts, central
bankers keep pumping out new debt. When
The
At the same time, to keep the interest burden of debt from spiraling out of the
control, nations are tempted to shift to shorter duration. This has the effect
of leaving a country ever more vulnerable should central bankers be forced to
raise interest rates. Interest payments are now just 1% of GDP and 5.7% % of US
expenditures, actually fairly low (though, even at these levels, interest chews
up 14% of each tax dollar collected). In fact, the interest bill for
|
|
2011 |
$454,393,280,417.03 |
2010 |
$413,954,825,362.17 |
2009 |
$383,071,060,815.42 |
2008 |
$451,154,049,950.63 |
2007 |
$429,977,998,108.20 |
2006 |
$405,872,109,315.83 |
2005 |
$352,350,252,507.90 |
2004 |
$321,566,323,971.29 |
2003 |
$318,148,529,151.51 |
2002 |
$332,536,958,599.42 |
2001 |
$359,507,635,242.41 |
2000 |
$361,997,734,302.36 |
1999 |
$353,511,471,722.87 |
1998 |
$363,823,722,920.26 |
1997 |
$355,795,834,214.66 |
1996 |
$343,955,076,695.15 |
1995 |
$332,413,555,030.62 |
1994 |
$296,277,764,246.26 |
1993 |
$292,502,219,484.25 |
1992 |
$292,361,073,070.74 |
1991 |
$286,021,921,181.04 |
1990 |
$264,852,544,615.90 |
1989 |
$240,863,231,535.71 |
1988 |
$214,145,028,847.73 |
But we’ve reached a place where even a historically modest rise – say 2% --
would start gobbling huge chunks of tax revenue to the point where tax revenues
are flat to declining. The longer ZIRP continues, the more onerous the cost of
raising interest rates. Past some unknown point, ZIRP begets more ZIRP. We may
be past that point as the fed has said ZIRP will be the
http://image.minyanville.com/assets/FCK_Jan2011/images/Lila/eugenechart1.JPG
How long can this continue? In
ZIRP turns out
to be a trap that ensnares everybody, and not just the countries that adopt the
policy. During a briefing an economist from Tejas made the comment that once a
major economy adopts ZIRP, Central Banks all over the world lose control of
their monetary policy. I was puzzled about the mechanics of that until I came
across an example from
The transmission
mechanism is the carry trade. Starting in 2009, despite its precarious
geopolitical situation,
While foreign money might be enticed to borrow in ZIRP countries and invest
elsewhere, domestic institutions like pension funds and insurers are driven to
search for yield to meet the estimated returns embedded in their models. A
pension fund using an 8% expected return is going to find itself ever deeper
underwater if it is stuck in fixed income in such an interest rate regime. This
is one reason hedge funds haven’t gone out of fashion even though their returns
have been more dismal than not since 2008. The search for yield has also
underpinned the recovery of the High Yield market since the crash. ZIRP
may have saved pensions and insurers from an immediate crash in 2008, but it
has subjected them to a merciless squeeze ever since.
Individual savers find themselves caught between embracing risk and spending
principal. This is not the choice retiring baby boomers expected, particularly
since most were under-saved for retirement even as other safety nets develop
holes.
Other unintended consequences have to do with the freeze up in interbank
lending. With short term yields virtually non-existent, there is no incentive
for the big banks to use funds in excess reserves to lend to smaller banks. Why
take any risk in interbank lending when your reward is virtually the same as
holding cash. The lack of liquidity in the interbank market in turn disrupts
the forward market for FX futures (according to Stamford economist Ronald
McKinnon), and this in turn makes lenders less willing to back letters of
credit for exporters – something that happened in the midst of the crisis in
2008.
There have been positive benefits of ZIRP, including cheap debt for those
companies lucky enough to have access to the credit markets. Most notably, has been
the relationship between ZIRP’s evil twin, quantitative easing, and the buoyant
stock market. Nothing makes this point as starkly as a simple chart of the
S&P in 2011. The first half year was relatively smooth under the protective
umbrella of quantitative easing, while the second half looks like the EKG of a
heart attack (see below).
http://image.minyanville.com/assets/FCK_Jan2011/images/Lila/eugenechart3.jpg
Click to enlarge
Ben Bernanke is a brilliant economist, and I’m certain that he is more aware
than I am of the pitfalls of employing ZIRP for an extended period. So why did
he do it? My guess is that he went to ZIRP because he felt he had no choice. In
2008 he was caught between a rock and a hard place. On the one hand, he
desperately needed to funnel money and a yield curve to the banks. All well and
good, but the defensible solution–the course taken by Sweden in 1993–would have
been to saddle the taxpayers with these costs only after the banks’
shareholders and debt holders had shared the pain. As one pundit put it: a
nation needs banks, but a nation doesn’t need these particular banks.
So again, why didn’t Bernanke recognize that? A few people know, and they
haven’t been saying. One suspicion is that our major creditors in Asia and the
ZIRP, in concert with the various bailout programs and the stimulus, offered a
way to buy time, and that’s what happened. But what happens next?
Right now, this question is still at the edges of the radar. When ZIRP is
discussed at all, it is in the context of inflation fears. Indeed, inflation is
one way a debt burden might be reduced, but when that day comes, soaring
interest rates will force defaults and restructurings. The Goldilocks solution
is to grow our way to exit. Given that both governments and households are
still burdened with trillions in excess debt (as well as the issue of debt
saturation), it is difficult to imagine how we could finance that growth even
if an obvious and politically viable path to growth presented itself. This
suggests that we will do what
This means that the economy and the markets will remain in this surreal context
of ZIRP for an indeterminate period, even as awareness grows that there will be
no controlled ending for this halcyon period. It means that there will be
further episodes of quantitative easing, either overt or by stealth.
This money will likely flow into equity markets as it has in the past. It also
means that government institutions will likely be major players in interbank
lending for the indefinite future and that consumer lending will be constrained
for the indefinite future. And with major economies printing money to maintain
the illusion that there is a market for their sovereign debt, it means that
commodities will continue to find a bid, even as the global economy contracts
(though there will be dramatic downdrafts on specific events
such as noticeable cooling in China).
It also means that the pension crisis will continue to worsen, and that the
already dire situation for retirees will continue to worsen, with implications
for burdens on various levels of government as well as for consumer spending.
And then, of course, ZIRP, though encompassing, is but one of the factors that
will be influencing our markets in the coming months. The unresolved sovereign
debt issues in the EU, a cooling
Getting
Worse: 40 Undeniable Pieces Of Evidence That Show That America Is In Decline
The Economic Collapse | Is America in decline? That is a very provocative
question. The
Economic Collapse December 21, 2011
Is
The following
are 40 undeniable pieces of evidence that show that
#1 Back in 1985, 11 million vehicles were sold in
#2 In 1990, the median age of a vehicle in the
#3 The average price of a gallon of gasoline in 2011
has been $3.50. That is a new all-time record. The
previous record was $3.24 in 2008.
#4 The average American household will have spent an
astounding $4,155 on gasoline by the time the year is over.
#5 The number of children in the
#6 A decade ago, the
#7 The
#8 American 15-year-olds do not even rank in the
top half of all advanced nations when it comes
to math or science literacy.
#9 The United States once had the highest proportion of
young adults with post-secondary degrees in the world. Today, the
#10 After adjusting for inflation,
#11 The student loan default rate has nearly doubled since 2005.
#12 Our economy is not producing nearly enough jobs for
our college graduates. The percentage of mail carriers with a college
degree is now 4 times higher than it was back in
1970.
#13 Our infrastructure was once the envy of the
world. Today,
#14 Since December 2007, median household income in the
#15 Since the year 2000, incomes for
#16 According to U.S. Representative Betty Sutton,
#17 In all, more than 56,000 manufacturing
facilities in the
#18 The
#19 Manufacturing employment in the
#20 In 1959, manufacturing represented 28 percent of all
#21 The television manufacturing industry began in the
#22 The
#23 The Economic Policy Institute says that since 2001
America has lost approximately 2.8 million jobs due to our trade
deficit with China alone.
#24 According to one study, between 1969 and 2009 the
median wages earned by American men between the ages of 30 and 50 dropped by 27 percent after you account for
inflation.
#25 Back in 1980, less than 30% of all jobs in the
#26 The size of the economy in
#27 One prominent economist believes that the Chinese
economy will be three times larger
than the
#28 In 2001, the
#29 Back in the year 2000, 11.3% of all Americans were living in
poverty. Today, 15.1% of all Americans are living in poverty.
#30 Last year, 2.6 million more Americans dropped into poverty.
That was the largest increase that we have seen
since the
#31 According to the
#32 The percentage of children living in poverty in the United States increased
from 16.9 percent in 2006 to nearly 22 percent in 2010.
In the
#33 As I wrote about the other day, since 2007 the number of children
living in poverty in the state of
#34 A staggering 48.5% of all Americans live in a household
that receives some form of government benefits. Back in 1983, that number
was below 30 percent.
#35 Back in 1965, only one out of every 50 Americans was
on Medicaid. Today, one out of every 6 Americans is
on Medicaid.
#36 Between 1991 and 2007 the number of Americans
between the ages of 65 and 74 that filed for bankruptcy rose by a
staggering 178 percent.
#37 Today, the “too big to fail” banks are larger than ever.
The total assets of the six largest
#38 Since the Federal Reserve was created in 1913, the
U.S. dollar has lostover 95 percent of its purchasing power.
#39 During the Obama administration, the
#40 The
Sadly, most
Americans are not fired up about turning this country around. Way too
many of them realize that things are getting worse, but they have “checked out”
and are just going through the motions of life.
A perfect
example is posted below. In this video, a FedEx delivery guy just
chucks a computer monitor over somebody’s fence……Can you believe he did that?
The sad thing
is that the guy was actually home at the time and all the FedEx employee needed
to do was ring the bell.
This is the
kind of attitude that is killing
We all need to
start caring again. We all need to start taking pride in what we
do. We all need to start working hard again. We all need to make
sure that we are living with a sense of personal integrity.
When a nation
simply does not care anymore, even a con man can become president.
During a recent 60 Minutes interview,
Barack Obama said that only 3 presidents in
“The issue here
is not going be a list of accomplishments. As you said yourself, Steve, you
know, I would put our legislative and foreign policy accomplishments in our
first two years against any president — with the possible exceptions of
Johnson, F.D.R., and Lincoln — just in terms of what we’ve gotten done in
modern history. But, you know, but when it comes to the economy, we’ve got a
lot more work to do.”
He had to be joking, right?
Sadly, he was not joking.
But it is not just Barack Obama. The truth is
that both political parties are absolutely littered with con men, charlatans
and corrupt politicians.
It is going to be up to the American people to get
educated about how bad things have really gotten, to start demanding solutions,
and to start voting much better people into positions of authority.
If dramatic changes are not made, our economy will
continue to get worse and the decline of
We cannot stay on this road my friends.
It is only going to lead to a total nightmare.
Please share this information as widely as possible,
and please try to wake up as many of your fellow Americans as you can while
there is still time.’
Ten
Reasons To Fear And Loathe Markets In 2012 Forbes Robert Lenzner
#1. European
Sovereign Debt is a greater burden on the economies of
#2. The
ramification for the
#3. Continued
pressure on the earnings and book values of both European and US banks.
This can be seen in the way bank shares have traded this year, with global
banks getting pounded, and only regional banks with strong balance sheets being
favored.
#4.
Continued selling pressure on the prices of key commodities like oil,
copper and iron ore due to expectd slowness i the global economy.
#5. The
imbecility of extending the payroll tax deduction for only two more months– a
horrendous sign of political weakness with dire economic ramifications.
#6.
Residential housing market still mightily impaired and not expected to recover
for another 3 years. Still many millions of homes where mortgage debt greater
than the market value of the homes.
#7. Antipathy
individual investor for long term equity investing. Rise of the short-yterm
investor such as hedge funds using leverage, requiring volatility, better
informed than the public investor.
#8.
Expectation reduction $1.2 trillion from US budget over next 10 years. Can only
mean less money in circulation, less income to invest, lower GDP, less economic
growth rate. This is the reality being denied by most investors.
#9. Overall
theme of deflation, deleveraging can only mean lower asset prices.
#10.
Chance of social unrest in
Derivatives
group spent $674K lobbying in Q3 AP
PORTER STANSBERRY OF STANSBERRY RESEARCH
THE
CORRUPTION OF
The numbers
tell us
I say "the numbers tell us" because I've
become very sensitive to the impact this kind of statement has on people. When
I warned about the impending bankruptcy of General Motors in 2006 and 2007,
readers actually blamed me for the company's problems – as if my warnings to
the public were the real problem, rather than GM's $400 billion in debt.
The claim was
absurd. But the resentment my work engendered was real.
So please...
before you read this issue, which makes several arresting claims about the
future of our country... understand I am only writing about the facts as I find
them today. I am only drawing conclusions based on the situation as it stands.
I am not saying that these conditions can't improve. Or that they won't
improve.
The truth is,
I am optimistic. I believe our country is heading into a crisis. But I also
believe that... sooner or later... Americans will make the right choices and
put our country back on sound footing.
Please pay
careful attention to the data I cite. And please send me corrections to the
facts. I will happily publish any correction that can be substantiated. But
please don't send me threats, accusations against my character, or baseless
claims about my lack of patriotism. If I didn't love our country, none of these
facts would bother me. I wouldn't have bothered writing this letter.
I know this is
a politically charged and emotional issue. My conclusions will not be easy for
most readers to accept. Likewise, many of the things I am writing about this
month will challenge my subscribers to re-examine what they believe about their
country. The facts about
One last
point, before we begin... I realize that this kind of macro-economic/political
analysis is not, primarily, what you pay me for.
You rightly
expect me to provide you with investment opportunities – whether bull market,
bear market, or total societal collapse. And that's what I've done every month
for more than 15 years.
But that's not
what I've done this month. You won't find any investment ideas at all in these
pages. This issue is unlike any other I have ever written.
I'm sure it
will spark a wave of cancellations – costing me hundreds of thousands of
dollars. I fear it will spark a tremendous amount of controversy. Many people
will surely accuse me of deliberately writing inflammatory things in order to
stir the pot and gain attention. That's not my intention. The truth is, I've
gone to great lengths throughout my career to protect my privacy.
I am speaking
out now because I believe someone must. And I have the resources to do it. I am sharing these ideas with my subscribers because
I know we have arrived at the moment of a long-brewing crisis.
Our political
leaders, our business leaders, and our cultural leaders have made a series of
catastrophic choices. The result has been a long decline in
For decades,
we have papered over these problems with massive amounts of borrowing. But now,
our debts total close to 400% of GDP, and America is the world's largest
borrower (after being the world's largest creditor only 40 years ago)... And
the holes in our society can no longer be hidden...
We've reached
the point where we will have to fix what lies at the heart of
How do I know?
How do I statistically define the decline of
The broadest
measure of national wealth is per-capita gross domestic product (GDP).
Economists use this figure to judge standards of living around the world. It
shows the value of the country's annual production divided by the number of its
citizens. No, the production isn't actually divided among all the citizens, but
this measure provides us with a fair benchmark to compare different economies
around the world. Likewise, this measure shows the growth (or the decline) in
wealth in societies across time.
So... is
This is the most fundamental measure of the success or the failure of any
political system or culture. Are the legal and social rules we live under
aiding our economic development or holding us back? What do the numbers say?
Unfortunately,
it's a harder question to answer than it should be. The problem is, we don't
have a sound currency with which to measure GDP through time. Until 1971, the
U.S. dollar was defined as a certain amount of gold. And the price of gold was
fixed by international agreement. It didn't actually begin to trade freely
until 1975. Therefore, the value of the U.S. dollar (and thus the value of
Even today,
our government's nominal GDP figures are greatly influenced by inflation. The
influence of inflation is particularly pernicious in GDP studies. You see,
inflation, which actually reduces our standard of living, drives up the amount
of nominal GDP. So it creates the appearance of a wealthier country... while
the nation is actually getting poorer.
The only real
way to accurately measure per-capita GDP is to build our own model. The need to
build our own tools tells you something important – the government doesn't want
anyone to know the answer to this question. It could easily publish data far
more accurate than the indexes it puts out. But government doesn't want anyone
to know. And it wants to be able to say "those aren't the real data"
when studies like ours produce bad news.
So pay
attention to how we built our charts. You can see for yourself that our data
are far more accurate than the government's figures. Our data are based on the
real purchasing power of the currency, not the nominal numbers, which are
completely meaningless in the real world.
The question
we are trying to answer is: What would per-capita GDP numbers look like, if we
used a real-world currency, like gold, or a basket of commodity prices, instead
of the paper-based U.S. dollar? What would the figures be if we measured GDP in
sound money instead of the government's funny money?
Here's how we
figured it out. We took the government numbers for nominal GDP and measured
them first against commodity prices, and later (after it began to trade freely)
gold. We used a standard commodity index (the CRB) up to 1975 and gold
post-1975. The result of this analysis shows you the real trend in
Our analysis
shows you what's actually happened to our real standard of living. The results,
we suspect, will surprise even the most bearish among you.
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/12/porter%201.png
Americans
Are Getting Poorer – Fast
Let me
anticipate the "official" criticism of our study. Many people will
claim that our numbers aren't "real." They will say that we
"mined" the data to produce a chart that showed a steep decline.
That's simply
not so. All we've done is convert the government's nominal GDP stats into a
fixed currency value that's based on real-world purchasing power. The fact is,
our data are far more accurate than the government's because they represent the
real-world experience.
That's why our
data are far more closely correlated to other real-world studies of wealth in
Consider, for
example, annual sales of automobiles. Auto sales peaked in 1985 (11 million)
and have been declining at a fairly steady rate since 1999. In 2009, Americans
bought just 5.4 million passenger cars. As a result, the median age of a
registered vehicle in the
Our data shows
that real per-capita wealth peaked in the late 1960s. Guess when we find the
absolutely lowest median age of the
Rich people
buy new cars. Poor people do not.
Most
important, our data "proves" something I know many of you have felt
or perceived for many years. You've seen the decline of your neighborhoods.
You've gone years without being able to earn more money in your job. Or you've
seen your purchasing power decrease to the point where you're now substituting
lower-quality products on your grocery list for the brand-name products you
used to buy.
You can see
how much harder it is on your children to find good jobs, to buy good housing
or a new car. As a result, few people under the age of 40 have the same kind of
"life story" as their parents.
And because
they can't "make it," many have decided to "fake it." The
average college student now graduates with $24,000 in debt... and by his late
20s has racked up more than $6,000 in credit card debt. Meanwhile, median
earnings for Americans aged 25-34 equals $34,000-$38,000. (Source: Demos.org,
"The Economic
Can you
imagine starting your life out as an adult with a personal debt-to-income level
at close to 100%? What does this say about the state of our economy? What does this say about the state of our culture?
Who
Suffers Most
It's not only
the young that are having trouble in
Debt levels
among households headed by people older than 62 have been rising for two
decades. The average mortgage size for this population is now $71,000 – five
times larger than it was in 1987 (adjusted for inflation), according to William
Apgar of Harvard's
Older
Americans are also more reliant on credit card debt than ever before... credit
card debt. From 1992 through 2007 (which is the latest data available) older
Americans took on credit card debt at a faster pace than the population as a
whole. According to
Given average interest rates of 20% for these debts, it's a fair bet that these
obligations will never be repaid. But they will have a terrible impact on the
standard of living of these older Americans.
What in the
heck is going on? Don't Americans pay off their mortgages before they retire?
Don't they work hard during their careers, save, and invest, so they can move
to
Older
Americans living with credit card debt! This doesn't sound like
My bet is that
most of my subscribers know that something has gone terribly wrong with
In this
month's issue, I'd like to try to define a few of the core reasons we're in
this situation. I can't possibly analyze all the factors that have led to this
decline. But I want to document the growth of graft in politics. I want to
demonstrate – with real facts and examples – how public company leadership has
deteriorated. And I want to document some of the things that are occurring in
the broader society, all of which I believe are linked to this fundamental
decline in our standard of living.
You see, I
believe the decline of our country is primarily a decline of our culture.
We have lost
our sense of honor, humility, and the dedication to personal responsibility
that, for more than 200 years, made our country the greatest hope for mankind.
I want to detail some of the factors that gave rise to the current entitlement
society. We have become a country of people who believe their well-being is
someone else's responsibility.
I've labeled
these problems: The Corruption of
These problems
manifest themselves in different ways across institutions in all parts of our
society. But at their root, they are simply facets of the same stone. They are
all part of the same essential problem.
The corruption
of
The Ethos
of 'Getting Yours'
Americans
know, in their bones, that something terrible is happening. Maybe you can't
articulate it. Maybe you don't have the statistics to understand exactly what's
going on. But my bet is, you think about it a lot.
For me, a
poignant moment of recognition came this month.
Bloomberg news
published an article based on confidential sources about how Henry Paulson, the
former CEO of Goldman Sachs and the Republican U.S. Treasury secretary during
the financial crisis, held a secret meeting with the top 20 hedge-fund managers
in
I knew for a fact that what Paulson told Congress wasn't true. I wrote my
entire June 2008 newsletter detailing exactly why Fannie and Freddie certainly
had billions in losses that they had not yet revealed to investors – $500
billion in losses, at least. There was no question in my mind, both companies
were insolvent – "zeros," as I explained.
And yet, in
front of Congress, the
Then... only a few days later... what did Paulson tell those hedge-fund
managers?
He told them
the same thing I had written in my newsletter. He told them the opposite of
what he'd said publicly to Congress. He told these billionaire investors that
Fannie and Freddie were a disaster... They would require an enormous,
multibillion-dollar bailout... The
Here you had a
high-government official, explicitly lying to Congress (and by extension, the
general public), while giving the real facts to a group of people who
represented the financial interests of the world's wealthiest folks. The story
didn't come to the public's attention for
two years.
This was the
most outrageous example of graft and corruption I have ever seen. Certainly it
involves more billions of dollars in misappropriated value than any other
similar story I can recall. These managers had the risk-free ability to make
tens of billions of dollars, if not hundreds of billions, by using derivatives
to capitalize on what they knew was the imminent collapse of the world's
largest mortgage bank. Who picked up the tab? You know perfectly well. It was
you and me, the taxpayers.
(One of the
investment managers present at this meeting was Steve Rattner, who by that
point was already deeply involved in another bit of graft, his efforts to bribe
New York state pension-fund managers for large investments into his hedge fund,
from which he earned perhaps as much as $100 million. He later settled the
charges for a mere $10 million shortly after Andrew Cuomo was elected governor
of
The Bloomberg story... about a crooked Treasury secretary handing a room full
of crooked billionaires inside information worth billions of dollars... hardly
caused a ripple. As far as I know, no actions are being planned against Henry
Paulson or any of the hedge-fund managers involved. No other major media outlet
picked up the story. I saw nothing about it from the Department of Justice or
the Securities and Exchange Commission.
What does that
say about our country when even the most egregious kind of corruption –
involving hundreds of billions of dollars – is simply ignored?
It seems like
everyone in our country has lost his moral bearing, from the highest government
officials and senior corporate leaders all the way down to schoolteachers and
local community leaders. The ethos of my fellow Americans seems to have changed
from one of personal integrity and responsibility to "getting yours"
– the all-out attempt, by any means possible, to get the most amount of
benefits with the least amount of work.
You can see
this in everything from the lowering of school standards (revising the SAT) to
the widespread use of performance-enhancing drugs in professional, college, and
high school sports. Cheating has become a way of life in
I have an idea
about how this happened... about the root cause of this kind of corruption and
why it was inevitable, given some of the basic facts regarding how we've
organized our government and our corporations.
Let me show
you the numbers – the hard facts – behind what's happened to our country...’
50
Economic Numbers From 2011 That Are Almost Too Crazy To Believe The Economic Collapse | If we do not educate
the American people about how deathly ill the U.S. economy has become, then
they will just keep falling for the same old lies. December 16, 2011 ‘Even
though most Americans have become very frustrated with this economy, the
reality is that the vast majority of them still have no idea just how bad our economic
decline has been or how much trouble we are going to be in if we don’t make
dramatic changes immediately. If we do not educate the American people
about how deathly ill the
At this time
of the year, a lot of families get together, and in most homes the conversation
usually gets around to politics at some point. Hopefully many of you will
use the list below as a tool to help you share the reality of the
The following
are 50 economic numbers from 2011 that are almost too crazy to believe….
#1 A staggering 48 percent of all Americans are either
considered to be “low income” or are living in poverty.
#2 Approximately 57 percent of all children in the
#3 If the number of Americans that “wanted jobs” was
the same today as it was back in 2007, the “official” unemployment rate put out
by the
#4 The average amount of time that a worker stays
unemployed in the
#5 One recent survey found that 77 percent of all
#6 There are fewer payroll jobs in the
#7 Since December 2007, median household income in the
#8 According to the Bureau of Labor Statistics, 16.6
million Americans were self-employed back in December 2006. Today, that
number has shrunk to 14.5 million.
#9 A
#10 According to author Paul Osterman, about 20 percent of all
#11 Back in 1980, less than 30% of all jobs in the
#12 Back in 1969, 95 percent of all men between the ages
of 25 and 54 had a job. In July, only 81.2 percent of men in that age group
had a job.
#13 One recent survey found that one out of every three
Americans would not be able to make a mortgage or rent payment next month
if they suddenly lost their current job.
#14 The Federal Reserve recently announced that the
total net worth of
#15 According to a recent study conducted by the
BlackRock Investment Institute, the ratio of household debt to personal income
in the
#16 As the economy has slowed down, so has the number of
marriages. According to a
#17 The
#18 In
#19
#20 If you can believe it, the median price of a home in
#21 According to the
#22 New home construction in the
#23 As I have written about previously, 19 percent of all American men
between the ages of 25 and 34 are now living with their parents.
#24 Electricity bills in the
#25 According to the Bureau of Economic Analysis, health
care costs accounted for just 9.5% of all personal consumption back in
1980. Today they account for approximately 16.3%.
#26 One study found that approximately 41 percent
of all working age Americans either have medical bill problems or are currently
paying off medical debt.
#27 If you can believe it, one out of every seven
Americans has at least 10 credit
cards.
#28 The
#29 It is being projected that the
#30 The retirement crisis in the
#31 Today, one out of every six elderly
Americans lives below the federal poverty line.
#32 According to a study that was just released, CEO pay
at
#33 Today, the “too big to fail” banks are larger than ever.
The total assets of the six largest
#34 The six heirs of Wal-Mart founder Sam Walton have a
net worth that is roughly equal to the bottom 30 percent of all
Americans combined.
#35 According to an analysis of Census Bureau data done
by the Pew Research Center, the median net worth for households led by someone
65 years of age or older is 47 times greater than the
median net worth for households led by someone under the age of 35.
#36 If you can believe it, 37 percent of all
#37 A higher percentage of Americans is living in extreme poverty (6.7%) than has ever been measured
before.
#38 Child homelessness in the
#39 Since 2007, the number of children living in poverty
in the state of
#40 Sadly, child poverty is absolutely exploding all over
#41 Today, one out of every seven Americans is on food
stamps and one out of every four
American children is on food stamps.
#42 In 1980, government transfer payments accounted for
just 11.7% of all income. Today, government
transfer payments account for more than 18 percent of all
income.
#43 A staggering 48.5% of all Americans live in a household
that receives some form of government benefits. Back in 1983, that number
was below 30 percent.
#44 Right now, spending by the federal government
accounts for about 24 percent of GDP. Back in 2001,
it accounted for just 18 percent.
#45 For fiscal year 2011, the
#46 If Bill Gates gave every single penny of his fortune
to the
#47 Amazingly, the
#48 If the federal government began right at this moment
to repay the
#49 The
#50 During the Obama administration, the
Of course the
heart of our economic problems is the Federal Reserve. The Federal
Reserve is a perpetual debt machine, it has almost completely destroyed the
value of the U.S. dollar and it has an absolutely nightmarish track record of
incompetence. If the Federal Reserve system had never been created, the
During 2011 we
made a lot of progress in educating the American people about our economic
problems, but we still have a long way to go.
Hopefully next
year more Americans than ever will wake up, because 2012 is going to represent
a huge turning point for this country.’
Current
Events Summarized In Brilliant Art George Washington 12/16/2011 A picture is worth
a thousand words [ View archived file: http://www.albertpeia.com/currenteventsinart.htm ]
The
Tim Tebow Comeback Story Continues But There Will Be No Miracle Comebacks For
The U.S. Economy | Never in the history of the NFL has there ever been
anything like this. The
Economic Collapse December 12, 2011 ‘Never in the history
of the NFL has there ever been anything like this. Today, Tim Tebow
engineered yet another
miraculous 4th quarter comeback. Almost everyone has been expecting this
unprecedented string of comebacks to come to an end, yet Tebow just keeps
pulling off miracle after miracle. It seems like nearly every week now we
are talking about another unbelievable Tim Tebow comeback. It is truly a
great story, and what is wonderful about Tebow is that he is not out to glorify
himself. He is very humble, he always recognizes his teammates and he is
a terrific role model for a generation of American youth that is in desperate
need of one. Unfortunately, there is not going to be a similar comeback
story for the
We desperately
need a “political Tim Tebow” to come along to dismantle our current debt-based
economic system. But instead, the corrupt politicians in
Unfortunately,
this is about as good as things are going to get for the
We have been
experiencing “economic stagnation” for much of the past year, and there is not
much more that they can do to improve things under our current system.
Right now, the
Federal Reserve has pushed interest rates as low as they can go. They
can’t go any lower.
Right now, the
federal government is borrowing and spending unprecedented amounts of
money. Federal spending cannot go much higher.
Right now, we
have already seen tax cut after tax cut and virtually none of them have been
paid for. Any additional tax cuts will just send our budget deficits even
higher.
Right now, we
have already seen unprecedented intervention by the Federal Reserve. They
have done just about everything short of dropping huge bags of money over the
countryside from helicopters.
The federal
government and the Federal Reserve have done just about everything that they
can possibly do to “stimulate” the economy, and yet things just keep getting
worse.
So what is
going to happen when the federal government and the Federal Reserve quit
stimulating the economy?
As I wrote
about the other day, when evaluating the future of the
When you do
that, you suddenly do not feel so good about the upward “blips” that we have
seen in the economy lately.
Yes, the
“official” unemployment rate recently went down slightly. But as Mac
Slavo recently pointed out, even
with the recent “improvement” the truth is that the “real” level of
unemployment in the
And all of the
long-term trends indicate that we heading for a massive amount of trouble.
The number of
good jobs continues to decline. Even though our population is rapidly
increasing, there are 10 percent fewer middle income jobs in the
In recent
years, the employment to population ratio has been steadily declining. At
the start of the recession it was at 62.7%. Today, it is at 58.5%.
Household
incomes continue to go down as well. Since December 2007, median
household income in the
So why is this
happening? Well, as I wrote about recently, the
Wealth, jobs
and economic infrastructure are pouring out of this country and very few
politicians are trying to stop it.
An average of
23 manufacturing facilities were shut down every single day in the
That
represents a huge amount of lost jobs.
So do you hear
any political candidates talking about how they are going to stop this from
happening or about how they are going to get all of those lost jobs back?
Overall, the
So how can an
economy be great when it is constantly bleeding huge amounts of economic
infrastructure?
We have become
way too dependent on other nations for the things that we need.
How much
trouble would we be in if
Right now, businesses
are absolutely racing to get out of the
One economist
from
So why aren’t
more politicians screaming and yelling about this?
Without good
jobs, Americans are falling out of the middle class in staggering numbers.
Since 2007,
the number of children living in poverty in the state of
So is that a
sign that things are getting better or that things are getting worse?
A higher
percentage of Americans is living in extreme poverty than has ever been measured
before. Not only that, 2.6 million more Americans fell into poverty last
year. That was also a new all-time record.
So are those
signs that things are getting better or that things are getting worse?
The American
people generally do not understand why these things are happening, but they are
clearly getting frustrated.
A recent
But when
election time rolls around, they will probably send most of them back to
Our
politicians keep kicking the can down the road, but time for doing that is
running out. The unprecedented “stimulus” efforts by the federal
government will be coming to an end sooner or later.
In a recent
article, author Bruce Krasting listed
a whole bunch of reasons why the economic can is not going to be able to be
kicked down the road much farther. The following are some of the things
that he says are scheduled to end by the beginning of 2013….
·
The Bush
tax cuts on those making more than $200k will expire.
·
The Bush
tax cuts on those making less than $200k will also expire.
·
The Patch
on AMT will expire.
·
The 2%
payroll tax holiday will expire for all workers on 12/31/12 (I’m sure the
current holiday will be rolled for another year)
·
The
99-week extended unemployment benefits die on 12/31. (The emergency benefits
will also be extended for 2012)
·
There
will have to be a budget that is approved. Alternatively, a series of
continuing resolutions is required to avert a government shutdown. We have not
had an approved budget in over 900 days.
·
2013 is
the first year that there will be mandatory caps on discretionary spending.
These limits will result in a YoY decline in government spending.
·
The
Federal Reserve has promised to keep interest rates at zero into 2013. While it
is possible that the Fed could continue the madness for even longer, the
reality is that interest rates have nowhere to go but up.
·
By
January 2013 it will be painfully evident that the country’s key social programs,
Social Security and Medicare will be running in the red at a pace that is far
higher than anyone considered possible. The need for dramatic changes in these
programs will have to come onto the table. The implications of this will be
significant.
·
In 2013
the issues of Fannie, Freddie, FHA and the Federal Home Loan Banks must be
addressed. The problems at the housing agencies has festered too long.
·
The
country will face another debt ceiling extension. The last time cost us our
AAA.
Sadly, we will probably not have to wait until 2013
to feel a whole lot of economic pain.
The reality is that a 15 trillion dollar debt and
trillion dollar yearly budget deficits are not sustainable. We have
created a situation where a horrible crash is inevitable, and there is no way
that our current debt-based system can be fixed to keep a nightmarish collapse
from happening.
During the Obama administration, the
Meanwhile, despite what you may have heard, the
European debt crisis has not been fixed.
Not at all.
The truth is that none of the fundamental problems
were fixed by this recent “agreement” as Ambrose Evans-Pritchard recently noted in one of his columns….
There is no shared
debt issuance, no fiscal transfers, no move to an EU Treasury, no banking
licence for the ESM rescue fund, and no change in the mandate of the European
Central Bank.
In short, there
is no breakthrough of any kind that will convince Asian investors that this
monetary union has viable governance or even a future.
For many more reasons why Europe is headed for big
trouble, please read this article: “22
Reasons Why We Could See An Economic Collapse In Europe In 2012“.
When Europe goes down, it is going to have a
devastating impact on the
Meanwhile, the economies of
There is simply way too much debt in the world, and a
great day of reckoning is coming.
Combined, the industrialized nations of the world
borrowed more than 10 trillion
dollars this year, and that number is expected to soar even higher next
year.
Jim Cramer of CNBC stated recently that the global
economy is at “DEFCON 3, two stages from a financial collapse so huge it’s hard
to get your mind around.”
Most Americans don’t understand this yet. But
hopefully we can get more of them educated while there is still time.
The global financial system is a big shell
game. It is a gigantic mountain of debt, leverage and risk.
You would have thought that we would have learned
some key lessons from the financial crisis of 2008, but we didn’t.
Back in 2002, the top 10
Today, the “too big to fail” banks are larger than ever.
The total assets of the six largest
So instead of doing something about the “too big to
fail” banks, they are now more “too big to fail” than ever.
As big banks and big corporations have come to
dominate our economy more than ever before, wealth and power have also become
much more concentrated….
*The wealthiest 1 percent of all Americans now
own more than a third of all the
wealth in the
*The poorest 50 percent of all Americans collectively
own just 2.5% of all the wealth in the
*The six heirs of Wal-Mart founder Sam Walton have a
net worth that is roughly equal to the bottom 30 percent of all
Americans combined.
*Overall, the wealthiest one percent of all Americans
have a greater net worththan the bottom 90
percent combined.
It would be wonderful if we could send a “Tim Tebow
of politics” to
Are the Republicans really going to nominate someone
who co-sponsored 418 bills with Nancy Pelosi? The
truth is that the latest “anti-Romney candidate” isalmost a clone of Mitt Romney.
Newt Gingrich is essentially an older, ruder version
of Barack Obama. If you are counting on him to “save
Sadly, we just do not have nearly enough men
like Tim
Tebow in
While at
You can see video of Tim Tebow speaking to a group of
prisoners at the
Unfortunately, there is no “Tim Tebow comeback” on
the horizon for the
But when the
A lot of people say that my site is all
about “doom and gloom”, but telling the truth to the American people is never a
bad thing.
We do not do ourselves any favors by sticking our
heads in the sand and pretending that everything is going to be okay.
There is going to be no miracle comeback for the
A horrific economic collapse is coming.
You better get ready.’
THE ROAD NOT TAKEN: GLOBAL ECONOMY ON THE BRINK http://www.safehaven.com/article/23606/the-road-not-taken 12/10/2011 By David Knox Barker: ‘The international political economy and global financial markets are deep in the woods. A long wave winter season is blowing cold, and getting colder. Decades of excess leverage in the banking system and sovereign states is coming to an end. Government and consumer spending are hitting a wall. A critical fork on this wintry road is coming up fast.
A
transformational long wave crisis that spans the globe is under way. Tough
decisions must be made to pull us out of the long wave winter crisis and into a
new spring day on the other side. There are two different roads beckoning us
out of this long wave wintry mess. Make no mistake; the choice leads to
distinctly different destinations.
http://static.safehaven.com/authors/barker/23606_a.jpg
Oscar Wilde,
in his essay The Decay of Lying, famously penned the words, "Life imitates
art far more than art imitates life." Along this line of thinking, Robert
Frost's famous poem, with only one word edited (wintry), is in order. It offers
new meaning as the world grapples with the global financial, economic and
political crisis. It speaks to the far-reaching implications of the important
decisions required now for the uncertain road that lies ahead.
The Road Not Taken
by Robert Frost
Two roads diverged in a (wintry) wood,
And sorry I could not travel both
And be one traveler, long I stood
And looked down one as far as I could
To where it bent in the undergrowth;
Then took the other, as just as fair,
And having perhaps the better claim
Because it was grassy and wanted wear,
Though as for that the passing there
Had worn them really about the same,
And both that morning equally lay
In leaves no step had trodden black.
Oh, I marked the first for another day!
Yet knowing how way leads on to way
I doubted if I should ever come back.
I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I,
I took the one less traveled by,
And that has made all the difference.
Investors and
traders should recognize that global markets will discount the unknown future
on the road ahead far more than most are expecting as this long wave winter
bottoms in the years directly ahead, whatever road we take. Markets do not like
the unknown and buyers of the future will require a hefty discount to the cash
flows it offers, especially when perceived risks are rising fast and show no
sign of abating.
After this
final phase of the long wave winter that puts the future on sale, we can get on
with building a global economy that is better than what we are leaving behind.
The real question is what road we will take. One road leads to the serfdom and
dependence on government promises, the other to individual freedom and
unlimited potential. The road chosen will make a big difference in the world we
live in during the coming long wave spring season and global boom that lies
ahead.
The low road
offers more of the same Keynesian hopes that created this crisis. It shows more
wear. It offers greater intervention from government in hopes that the state,
even in light of recent evidence to the contrary, has the answers. The low road
grants greater powers to government and vastly higher levels of debt, fighting
debt with debt. Along this road greater national and individual sovereignty and
liberty is a required sacrifice offered to the deity of the state and its
various temples of centralized control.
The high road
offers the hope that the grand experiment of big government is actually ending
world over. The dissemination of information on the Internet suggests the old
media is losing its grip on public consciousness and its role of kingmaker.
Centralized political power is doomed. Rather than centralizing power, there
are signs the information age and technology is in the process of a quantum
leap, transforming political power in the process and returning it to its
rightful owner, the individual and their important role in society and
community. The latent potential that can be unleashed on the high road is
astounding, and it is the same world over.
Advocates of
the high road recognize that radical pro-growth and pro-job corporate tax
policies are urgently required. A low flat corporate tax rate of 15% or less in
the
If government
spending cuts are combined with pro-growth corporate tax policies, the next wave
of Internet driven innovation will trigger a global boom in a new long wave
spring season beyond 2012. Political leaders can pursue policies that
accelerate these trends, or they can try to hold on to their rapidly failing
grip on power.
Few are aware
that the object-oriented paradigm and the object-oriented code it spawned has
played an essential role in the Internet revolution. The objectivation of the
planet is turning the Internet into an empowering force for individual freedom
and liberty. The Internet is decentralizing access to information and is
radically changing the world, including putting political power into a state of
flux.
The low road
is simply more of the same that got us here and delivered the global system to
the edge of the abyss. There are those that are loudly advocating this
well-worn Keynesian road funded by government debt, i.e., the same map that got
us here. Many advocating the low road are hoping for yearend bonus checks for
all the bad debt they would like governments to back stop and transfer onto the
backs of taxpayers. This low road is where society's resources are distributed
both up to an elite class that socialize their losses and down to an
entitlement class. The motto of the low road is clear, in the words of Ayn Rand,
"From each according to his ability, to each according to his need."
The high road
is seldom traveled these days. It is a road of individual responsibility and
accountability for one's own decisions and actions, where thrift and prudence
gain their just reward and are not punished by the greed of others that are too
big to fail. This high road is where budgets are balanced and governments do
not spend money they do not have and therefore must borrow, or steal from its
rightful owners.
The two roads
out of the global financial crisis are coming up as the world descends in the
current business cycle. The call for the European Central Bank (ECB) to join
with the
The current
global system is now struggling under its glaring contradictions. The long wave
cycle points down and to a resetting of the global economic and financial
order. The world has come to an important fork in the road in the current
business cycle, the final business cycle of the long wave winter
The
entitlement class is demanding the politicians serve up the wealthiest
producers on a 1% prime mover platter, so they can, in their own words,
"eat the rich". It will of course be their last meal, but this crowd
does not think that far ahead. They have not considered that the next meal will
be the wild-eyed comrade across the table, or it will be them and their family.
In short, the
low road thinking suggests that it is possible to solve history's greatest debt
crisis with more debt and deficit spending, keeping the entitlement class
satisfied and growing. This may work marginally in this long wave cycle crisis
and a somber spring will begin belatedly, but this low road will weaken
international capitalism and likely trigger the collapse of capitalism in the
next long wave winter season, delivering the global economy onto the cusp of a
new dark age.
On the high
road, governments will actually be required to stop spending money they do not
have and balance their budgets. Investors that unfortunately make bad
investments will have to take losses and not socialize them and pass them on to
taxpayers. This appears to be a rather novel concept for many. The media and
politicians jeer at it as old-fashioned nonsense. Those with the mistaken
belief that the profits of capitalism will be able to pay the tab for the great
entitlement banquet, are rejecting as "austerity" what is only common
sense and the way our grandparents lived.
Advocates for
the low road gained the upper hand in the 2008-2009 phase of the financial
crisis. Many are now rightfully questioning this direction. Although we are now
moving toward the low road, there remains time to change, to take the high
road.
All eyes are
now on
The statement
out of the European Union meeting this week suggests there remain leaders that
are advocating the high road; let us pray they can provide the leadership to
make it happen. They are asking governments to cut spending and move toward
balanced budgets before the ECB steps in and buys larger amounts of sovereign
debt. Draghi appears to be the sort that will wait for tangible evidence and
real cuts before backstopping anyone. Chairman Bernanke should take notes and
shake off his fear of deflation.
Great pressure
is being applied to the ECB to jettison their single mandate of price stability
in Europe and join the
On the low
road, concerted global QE will cause the global crisis and long wave winter to
drag on longer than it will on the high road. With global QE that buys bad
debt, the business cycle lows in 2016 will be inflation-adjusted long wave lows
as debt is monetized and inflation steals from real returns. Capital will be
slow to commit to the new global long wave spring season and it will get off to
a much slower start than possible on the high road. Government picks winners
and losers on the low road. That plan has not worked out so far, e.g. Solyndra,
etc.
The map for
the high road is real deficit reduction in the
The chart
below demonstrates this possible scenario using Market Cycle Dynamics software
running with Metastock. The global economy and international markets are a
complex system. The low road will not stop the cycles; it will only lengthen
the cycles and lead the world inexorably toward chaos and a greater collapse.
The high road will restore order and a global boom. A new long wave spring
season of global prosperity is what the high road offers.
http://static.safehaven.com/authors/barker/23606_b.png
On the high
road, the global economy will make the turn and come roaring out of the V
shaped deflation and debt liquidation and into a new long wave spring within 18
months. Hard work, risk taking and ability are what will pick the winners along
the high road. The road we choose to travel will determine how and when this
business cycle and long wave winter season ends. The road we take will make all
the difference.’
The
Worldwide Depression/Recession Of 2012
Jeff
Harding Dec 09, 2011 ‘While we're seeing some positive numbers in the
I’ve been writing about this theme frequently lately because, while we are
seeing some positive numbers here in the U.S., we are also seeing signs of
weakness starting to show up, and since we live in a world of international trade,
the world’s woes will hit us.
The first thing to note about this phenomenon is that the central banks of the
world, including the Fed, have been doing all they can to support their
economies with plentiful money. According to a recent Bloomberg article, “Central banks across five
continents are undertaking the broadest reduction in borrowing costs since 2009
to avert a global economic slump stemming from
Monetary easing will push the average worldwide central bank interest
rate, weighted for gross domestic product, to 1.79% by next June from 2.16% in
September, the largest drop in two years, according to data and projections
from JPMorgan, which tracks 31 central banks. The number of those banks
loosening credit is the most since the third quarter of 2009, when 15
institutions cut rates, the data show.
The People’s Bank of
This is nothing new. Since the Crash of 2008, most central banks have been
pumping fiat money into their economies.
The multiple EU sovereign insolvencies—you don’t need to default to be
insolvent—are hitting eurozone credit hard, which is a trigger for deflation as
money supply declines. Lenders are stuck with bad sovereign loans and there
isn’t enough money to bail them all out, much less the PIIGS.
The thing to remember about the eurozone is that it’s not just sovereign
insolvencies that is their problem. They became insolvent, yes because
governments spent too much, but their economies are in the tank mainly for many
of the same reasons the U.S. economy declined (money inflation boom, high
debt/spending, housing market collapse triggering depression, high taxes and
regulation, and various bailouts to prevent recovery). Until they fix the
underlying causes, their banks will collapse and countries will default.
China’s frequent monetary stimulus, along with
government real estate policies, keeps feeding their real estate boom-bust
cycles.
Once you look at the data (below), you will see where we and the world are
headed.
While these economies are shrinking, demand for commodities,
capital goods, and manufactured goods all decline. This is impacting
commodity prices; they have been falling since this summer (mainly a
supply-demand factor, not just a money deflation issue). Each country/zone will
have a different reaction to all this. Most will continue to inflate (“print”
money).
Money printing will have little impact on declining prices for the time being.
Unless they panic. If they panic -- that is, massively pump money --
they will suffer from price inflation.
Here is what it looks like:
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchDEC2011/Chart%201%20Markit-JPM-Global-Main-PMI-Regional%20Nov%202011.png
Click to enlarge
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchDEC2011/Chart%202%20KMPG_Market-Wordwide-Regional%20PMI%20Nov%202011.png
Click to enlarge
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchDEC2011/Chart%203%20Markit-HSBC-China-PMI-Germany%20Composite%20Nov%202011.png
Click to enlarge
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchDEC2011/Chart%204%20Markit-Eurozone-PMI-GDP-Input%20prices%20Nov%202011.png
Click to enlarge
N.B. The word
“depression” frightens a lot of people. It should. But, we are in one now. Our
leaders just invented the word “recession” to take our minds off what’s really
happening. Murray Rothbard in his book, America’s
Great Depression noted that when the economy crashed again in
1937, Franklin D. Roosevelt and his advisers didn’t want to use the
“D” word so they came up with “recession.” Until that time there were no
“recessions.” Now a “recession” is just a mini-depression. Since we, in my
opinion, have not yet recovered from the Crash of 2008, we are in a depression.
Just ask the 25 million Americans who either don’t have a job, can’t find one,
stopped looking, or are working part-time because they can’t find full-time
work. Just ask the 24% of home owners whose homes are financially underwater.
·
How the U.S. Will
Become a 3rd World Country (Part 1)
·
Globalization and
Global Chaos
·
Into the Abyss:
The Cycle of Debt Deflation
·
OTC Derivatives:
Failed Banks or Failed Nations?
·
Bernanke's
Dilemma: Hyperinflation and the U.S. Dollar
·
Madmen, Gamblers,
Alcoholics, the U.S. Dollar and Gold
SPX Update: Sell the Bounce Jason Haver
Nov 29, 2011 ‘This bounce might not last long, and new lows are expected to
follow.
$707,568,901,000,000:
How (And Why) Banks Increased Total Outstanding Derivatives By A Record $107
Trillion In 6 Months Durden
on 11/26/11
DATA
SUMMARY SHOWS THE US ECONOMY IS IN JEOPARDY [ Duh! Ya think? ] Jeff Harding Nov 23, 2011 http://www.minyanville.com/buzz/buzzalert/data-summary-shows-the-us/11/23/2011/id/146675?camp=syndication&medium=portals&from=yahoo
‘An overview of all the factors at play leads to one inevitable conclusion.
The Crossroad
The economy is at one of those crossroads where something is going to happen. Whether
that will be a positive or a negative is often difficult to tell because at any
time one of those “black swans” could land in our midst and change everything.
Plans are fluid and and forecasting can be quixotic. That said, I
believe we are at a critical point, and the
To understand what “tomorrow” might be, we need to look at today and
try to tie those threads together. Here is my analysis step by step, and
you can decide if you agree with my conclusions.
Today
I have been looking at a lot of data
reports in terms of an overall view of the economy. I apologize for all of the
charts and data, but they offer some insight into trends.
Price Indices
Both the Producer Price Index and the Consumer Price Index have shown modest
price increases, but may be trending negative.
Producer Price Index:
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards1.png
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards2.png
On a 12-month basis, finished goods have gone up 5.9%, intermediate goods up
8.3%, and crude goods up 12.6%. However, the recent trend is down, as the above
chart shows.
Consumer Price Index:
Consumer prices declined 0.1%, and core (less energy and food) went up 0.1%. On
a year-over-year basis, prices have increased 3.5%, but that is down from 3.9%
the prior month, mainly due to energy costs.
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards3.png
Industrial Production
Industrial production as measured by shipments showed a 0.7% gain in October,
and the 12-month index was up 3.9%.
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards4.png
Manufacturing
The important factory sector output was
up 0.5% in October and up 4.1% for the 12 months. The only negative here, and
it is a significant one, is that new orders are flat, but may not be declining:
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards5.png
The more telling ISM Manufacturing Index shows
some weakness:
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards6.png
The capital goods sector has been showing strong growth:
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards7.png
Business Sales
Business sales and inventories are also steady:
Businesses
are carefully managing their inventories, keeping them lean as sales move
incrementally forward. Business inventories are unchanged in the September
report with sales up 0.6 percent [11.06% YoY], a combination that keeps the
inventory-to-sales ratio at 1.27. This ratio has been pretty steady for the
last two years after spiking as high as 1.49 during the recession when sales of
course plunged.
But note that these numbers are nominal, not adjusted for inflation.
Retail Sales
Retail sales and food services were up 0.5% for October, and 7.2% year over
year. Again, these numbers are not adjusted for inflation. They are steady but
have been flat (±) since August 2010.
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards8.png
Wages and Earnings
Real wages continue to be weak. While real wages increased 0.3% in October,
that was after a CPI adjustment ((earnings +0.2)+(CPI -0.1%)). On a
year-over-year basis, real earnings are down 1.6%. “An unchanged average workweek combined
with the decline in real average hourly earnings resulted in a 1.7 percent
decrease in real average weekly earnings during the same period,” according to
the Bureau of Labor Statistics.
Bank Credit
Bank credit conditions are still sluggish.
Consumer credit
Consumer credit increased
at an annual rate of 1.5% in the third quarter. Revolving credit decreased at an annual rate of
3.25%, while nonrevolving credit increased 3.75%.
In September consumer credit increased at an annual rate of 3.5%. Revolving
credit is credit card debt; nonrevolving debt is mostly auto loans and student
loans. Generally, consumer credit has been rather flat except for auto loans,
which have been up and down, but mostly up:
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards9.png
Business credit
What has changed is that commercial and industrial loans have grown, especially
at small domestic banks. Look at the Fed’s H.8 commercial
bank commercial and industrial (C&I) loans in 2011 (note: I modified this
chart to fit):
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards10.png
(Note that “Other consumer loans” are mostly auto loans. This consumer credit
data is slightly different than the Fed’s G.19 data on consumer credit, above.)
What we see is that C&I loans took off starting in the first quarter of
2011. While the data for large domestic banks shows steady C&I loan growth
since the fourth quarter of 2009, small domestic bank C&I lending shot up
in the first quarter of 2011, from zero base to $20 billion:
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards11.png
Even more surprising is that average loan size for small
banks increased from about $100,000 to almost $650,000. One might conclude from
this that the credit freeze is over and small banks are lending and small to
medium business enterprises (SMEs) are borrowing, thus indicating a recovery.
What is happening?
The main reason for this sudden increase in loan activity is competition. Ever
since Dodd-Frank, banks have been scrambling to figure out how to make more
money, as many credit card and other account fees were prohibited in an attempt
to protect consumers. One way to offset that loss is to gain more business
customers, and there has been a scramble by both large and
small banks for SME customers.
Small banks have the most to gain or lose in this competition because SMEs are
their territory. So they are pursuing customers. Many also believe that there
is a window of opportunity with favorable spreads and thus the timing is
critical to expand business before that window closes. The initial beneficiaries
seem to be the banks in the $5 billion to $10 billion asset range, which are
classified as small banks. Keefe, Bruyette & Woods,
an investment bank specializing in services to the banking sector said:
[Damon DelMonte, an analyst with KBW Inc.'s Keefe, Bruyette & Woods
Inc.] said banks reporting loan growth are taking a bigger slice of the
pie, but the pie isn’t getting much bigger. “We’re not of the belief that the
demand for new loans is really ramping up,” he said. “It seems like it’s more
of a shifting of market share. Smaller banks are going to benefit at the
expense of larger banks.“
This was also confirmed by the Fed’s October
2011 Senior Loan Officer Opinion Survey on Bank Lending Practices, where they
reported increased competition, but that loan demand was weak:
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards12.png
I will explain the significance of this data further on.
International Trade
On the international scene, imports were actually down slightly, which was seen
as a positive by
most analysts (I see it as a negative):
The
Exports have been a substantial driver of
the economy ($2.117 trillion):
http://image.minyanville.com/assets/FCK_Jan2011/images/LisaCatchNOV2011/Hards13.png
International Capital Flows
The Treasury International Capital Report shows us that money continues to flow into the US
seeking refuge mainly in Treasuries:
Volatility in international financial markets made
for a second straight month of increasing inflow into long-term
Summary
Here is a summary of the above data:
#1. Industrial production (manufacturing and
services) is continuing a flat to declining trend that has been going on
since the second quarter of 2010. Manufacturing has shown recent growth, but it
mirrors the negative to flat trend. Capital goods orders have improved,
reflecting technological upgrades (which is also mirrored in software
sales).
#2. Prices are starting to decline both at the producer and consumer level. Oil
prices are likely to decline as worldwide economic activity slows. But, as we
know, political shocks from producers can alter this forecast dramatically.
#3. Retail sales, adjusted for price inflation, continue to be flat to
declining.
#4. Credit conditions are still tight at the consumer level, and business
credit still suffers from lack of demand.
#5. Exports have been a primary driver of the economy and have rebounded substantially post-crash
as a result of a devalued dollar.
#6. European economic problems have caused a significant influx of money into
the US, and that has been parked in Treasuries.
Here is a summary of other data I feel is important and that I
have recently discussed:
#1. Unemployment is
high. At 9% there are 13.9 million unemployed, while the broader
measure of unemployed (U-6) is 25 million. While unemployment has been dropping
at a snail’s pace, jobs are not being created at a sufficient rate to
substantially reduce unemployment. New jobless claims have been hovering around
the 400,000 per week for the entire year.
#2. Real disposable income is
falling.
#3. Personal savings have
fallen from a post-crash high of 5.8% in June
2010 to 3.6% as of September 2011 because consumers are using savings to
fund consumption.
#4. GDP is static rather than growing, and the latest third-quarter boost will
likely not continue. It is likely that the third-quarter report will be revised
downward.
#5. Auto sales are related to pent-up demand and
are not likely to be sustained.
#6. The top 5% of earners account
for 37% of all consumer spending, and it is they who are supporting consumer
spending. I call this a “bifurcated economy.” There is no broad-based consumer
spending rally.
#7. Household debt ($13.9 trillion) is still historically very high and
has not been substantially reduced.
#8.
#9. All government spending (federal,
state, and local) constitutes 45.6% of GDP.
#10. The euro crisis will
have a substantial impact on the rest of the world, including the
#11. The federal government is currently running a $1.3 trillion annual deficit.
#12. Unfunded liabilities for Social
Security, Medicare, and prescription drug (Part D) are $116.4 trillion and growing.
This does not include the pending problem with student loans (Sallie Mae) or
obligations to government-sponsored enterprises.
#13. The MF Global (MFGLQ.PK)
problem is indicative of a declining economy. It is likely that in a growing
economy, MF Global would have been able to ride out its crisis. In a declining
economy, company weaknesses tend to be revealed, as with Lehman. That creates
market uncertainty.
#14. Oil prices have risen from $40 a barrel post-crash to $110 a barrel in
April 2011, and presently are at $97 a barrel. Such oil price increases are
associated with and often presage recessions.
#15. Bank balance sheets are still weak because they do not book asset values
at market, they seem to not properly book troubled loans, and they are encumbered
by a substantial amount of malinvested assets that
have not been liquidated.
#16. 47 million Americans (15%) are on food stamps;
48.5% of the population lived in a household that received some type of
government aid in the first quarter of 2010.
#17. Americans are pessimistic about their future and the future of America,
according to almost all recent polls.
#18. An angry and disaffected
population in
What is important when looking at the data is to spot trends rather than
specific numbers. I have what I believe is a healthy skepticism about the
reports from the multitude of federal agencies that I follow on a regular
basis. They are often revised and probably understate the negatives. That is
especially so with price inflation. Many of the reports are in nominal numbers
rather than adjusted for official price inflation. If they are adjusted for
inflation (chained), their baseline is a recent year. Many analysts put great
emphasis on specific numbers, but quantifiable data is ephemeral and
probably “gamed.” Look at the trend.
Reminder: This is part one of a two-part
series. The second half will be published on Minyanville on Friday, November
25.’
25
Bitter And Painful Facts About The Coming Baby Boomer Retirement Crisis That
Will Blow Your Mind The Economic Collapse | For decades we were warned that
when the Baby Boomers started to retire that this country would be facing a
retirement crisis of unprecedented magnitude. The
Economic Collapse November 23, 2011
‘For decades
we were warned that when the Baby Boomers started to retire that this country
would be facing a retirement crisis of unprecedented magnitude. Well,
that day has arrived ladies and gentlemen. Back on January 1st, the Baby
Boomers began to retire and more than 10,000 of them will be retiring every
single day for years to come. Most of them have not saved up nearly
enough money for retirement. At the same time, private sector pension
plans are failing all over the place, hundreds of state and local government
pension plans from coast to coast are woefully underfunded, and the Social
Security system is on the road to complete and total disaster. A massive
wave of humanity is hitting retirement age at a moment in history when the
A lot of
younger Americans just assume that Social Security is enough to take care of
the needs of elderly Americans. But that is just not the case.
Have you ever
tried to live solely on a Social Security check?
It is not
easy. The truth is that those checks are just not that large.
The following comes
directly from the Social Security
Administration….
The average
monthly Social Security benefit for a retired worker was about $1,177 at
the beginning of 2011.
Could you live on less than 300 dollars a week?
And keep in mind that the $1,177 monthly figure is
just an average. Many receive a lot less than that.
In addition, Social Security benefits have been
seriously squeezed by inflation in recent years. The cost of food and
other basics has risen briskly and Social Security benefits have not.
Today, many elderly Americans have to make a choice
between buying food, heating their homes or buying medicine that they
need. They simply do not have enough money to do all of them.
It would have been nice if all of the Baby Boomers
had been busy saving money for retirement all these years, but that just did
not happen. In fact, the Baby Boomers as a group are trillions of dollars
short of what they need for retirement.
So why doesn’t the
Well, the reality of the situation is that the
Lawmakers are already looking at ways to make the
Social Security program less costly. No, the federal government is not
going to be riding to the rescue.
In fact, it will be a minor miracle if the Social
Security program is able to survive until the end of this decade, and it will
be a major miracle if the Social Security program is able to survive until
2030.
As for myself, I do not believe that I will ever see
a single penny from Social Security, and many other working age Americans feel
the same way.
Retirement is supposed to be a fun time, but sadly
most Americans that are approaching retirement age are not going to have any
“golden years” to look forward to.
Rather, millions of elderly Americans are going to
find the years ahead absolutely agonizing as they struggle just to survive.
The following are 25 bitter and painful facts about
the coming Baby Boomer retirement crisis that will blow your mind….
#1
According to the Employee Benefit Research Institute, 46 percent of all American workers have
less than $10,000 saved for retirement, and 29 percent of all American workers have
less than $1,000 saved for retirement.
#2
According to a recent poll conducted by Americans for Secure Retirement,88 percent of all Americans are worried
about “maintaining a comfortable standard of living in retirement”. Last
year, that figure was at 73 percent.
#3
A study conducted by
#4
Today, one out of every six elderly
Americans lives below the federal poverty line.
#5
On January 1st, 2011 the very first Baby Boomers started to retire. For
almost the next 20 years, more than 10,000 Baby
Boomers will be retiring every single day.
#6
At the moment, only about 13 percent of all Americans are 65 years of age or
older. By 2030, that number will soar to 18 percent.
#7
Right now, there are somewhere around 40 million senior citizens. By 2050
that number is projected to increase to 89 million.
#8
Back in 1991, half of all American workers planned to retire before they
reached the age of 65. Today, that number has declined to 23 percent.
#9
According to one recent survey, 74 percent of American workers expect to
continue working once they are “retired”.
#10
According to a recent AARP survey of Baby Boomers, 40 percent of themplan to work
“until they drop”.
#11
A poll conducted by CESI Debt Solutions found that 56 percent of American retirees still had
outstanding debts when they retired.
#12
A study by a law professor at the University of Michigan found that Americans
that are 55 years of age or older now account for 20 percent of all bankruptcies in the
United States. Back in 2001, they only accounted for 12 percent of all
bankruptcies.
#13
Between 1991 and 2007 the number of Americans between the ages of 65 and 74
that filed for bankruptcy rose by a staggering 178 percent.
#14
What is causing most of these bankruptcies among the elderly? The number
one cause is medical bills. According to a report published in The
American Journal of Medicine, medical bills are a major factor in more than 60 percent of the
personal bankruptcies in the
#15
Public retirement funds all over the
#16
Most
#17
Robert Novy-Marx of the University of Chicago and Joshua D. Rauh of
Northwestern’s Kellogg School of Management have calculated the combined
pension liability for all 50 U.S. states. What they found was
that the 50 states are collectively facing $5.17 trillion in pension
obligations, but they only have $1.94 trillion set aside in state
pension funds. That is a difference of 3.2 trillion dollars. So
where in the world is all of that extra money going to come from?
#18
According to the Congressional Budget Office, the Social Security systempaid
out more in benefits than it received in payroll taxes in 2010. That
was not supposed to happen until at least 2016. Sadly, in the years
ahead these “Social Security deficits” are scheduled to become absolutely
nightmarish as hordes of Baby Boomers retire.
#19
In 1950, each retiree’s Social Security benefit was paid for by 16
#20
The U.S. government now says that the Medicare trust fund will run outfive years faster than they were
projecting just last year.
#21
The total cost of just three federal government programs – the Department of
Defense, Social Security and Medicare – exceeded the total amount of taxes
brought in during fiscal 2010 by 10 billion dollars.
In the years ahead expenses related to Social Security and Medicare are
projected to skyrocket dramatically.
#22
The Pension Benefit Guaranty Corporation is the agency of the federal
government that pays monthly retirement benefits to hundreds of thousands of
retirees that were covered under defined benefit pension plans that
failed. The retirement crisis has barely even begun and the PBGC is
already dead broke. The PBGC says that it ran a deficit of $26 billion during the fiscal year that
just ended and that it will probably need a huge bailout from the federal
government.
#23
According to a survey by careerbuilder.com, 36
percent of all Americans say that they don’t contribute anything at
all to retirement savings.
#24
More than 30 percent of all investors in the United States that are currently
in their sixties have more than 80 percent of their
401k plans invested in equities. So what is going to happen to them if
the stock market crashes?
#25
A survey taken earlier this year found that 20 percent of all
Our politicians should have addressed the retirement
crisis decades ago before we got to the point of being in debt up to our eyeballs.
It is being projected that the
Obviously those figures will never be reached because
our financial system would totally collapse long before then.
So what do we do?
We have tens of millions of elderly Americans that
are completely and totally dependent on Social Security and Medicare, but those
programs also threaten to bankrupt us as a nation.
Anyone that believes that there is a “quick fix” to
these issues is being naive.
The “supercommittee” was supposed to address this problem,
but they failed so spectacularly that they have become a national joke.
Sadly, most of our politicians just keep kicking the
can down the road. They hope that somehow things will just magically
“work out”.
Well, the truth is that things are not going to “work
out”. The poverty level among the elderly is going to continue to
increase. Pension plans all over this nation are going to continue to
fail in staggering numbers. Social Security and Medicare are going to
bleed more red ink with each passing year.
Something should have been done about this problem a
long, long time ago.
But it wasn’t.
This crisis was ignored, dealing with it was put off
time after time and all the doomsayers were laughed at.
Now the crisis is here, and we are all going to pay
the price.’
Something
Big Is Coming... and It's Going to Be BAD Phoenix Capital... 11/18/2011 We have been
getting MAJOR warning signs of a collapse for months now. No less than the Bank
of
One
Interesting Thing About the Leading Indicators Report The Wall
Street Journal (Fri, Nov 18) { How about the most interesting thing about
‘leading economic indicators’ from mooshy mish shedlock is the weighting
accorded M2 and stock prices [who seems to have forgotten his own ‘unequivocal
declaration’ ( Global
Recession: Right Here, Right Now at
Minyanville Mike Shedlock Sep
02, 2011 ) which by the way was correct –almost, actually
a depression- and now equivocates saying ‘I would agree that a
slip back into recession in the 4th quarter is unlikely, assuming of course it
is even possible. Bear in mind, we have not had an official end of this
recession declared yet.’ I believe mish mosh shedlock is a lightweight (link to
‘huffington post’? What’s up with that?) but he does include the following
excerpt from Chris Puplava which is important, infra (Burt Domen and David
Rosenberg are the ‘real deal’ - Financial
Crisis Phase II Is Ahead at Forbes Bert
Dohmen ‘ In late
2007, I wrote the book Prelude To Meltdown, predicting the global crisis that occurred
the following year. I now see a similar confluence of events .. “the new
recession has started.”… Over the past 33 years, we have called the start of
every recession..Currently, the GDP deflator is 1.8%, which hardly reflects the
true rise in prices. Therefore, what is counted as “growth,” is actually price
increases. Actual inflation..is now more than 11%. Using that to adjust GDP for
inflation, would show that the economy is now in a very sharp contraction…’, David
Rosenberg: “It’s Time To Start Calling This For What It Is: A Modern Day
Depression” Zero Hedge , David
Rosenberg On The Depression, The ECB, MF Global As A Canary In The Coalmine...
All With A Surprise Ending Durden, This
is No Cyclical Recession… It is a Secular DE-pression
‘Chris
Puplava took a good hard look at the LEI in Fool Me Once, Shame on You. Fool Me Twice, Shame on Me.
One
of the things that many market commentators and research houses have pointed at
to support their bullish outlook on the stock market are the leading economic
indicators. I have had the sneaky suspicion that the aggressive and
unprecedented actions on the part of the Fed have played a significant role in
the LEI given a misleading signal as to an economic turnaround it is
forecasting, while the economic components would likely paint a different
picture. It is important to understand the makeup of the Conference Board’s
Leading Economic Index (LEI) and the weights that each component makes up of
the LEI. Below is the breakdown of the ten indicators that make up the LEI and
their respective weights in the index. As seen below, the three financial
indicators make up approximately 50% of the LEI while the seven economic
components make up the other 50%, with the M2 money supply alone making up
35.8% of the total LEI. Money makes the world go round, I guess, according to
the LEI.
http://1.bp.blogspot.com/_nSTO-vZpSgc/Ss2QhpYTrCI/AAAAAAAAHBw/aXOmraxEhEc/s400/LEI+components.png
Shown below are the YOY rate of change growth rates in the Conference Board’s
LEI and my indexes of the economic and monetary components separated out. What
is a clear take away is that the monetary LEI is doing the heavy lifting as the
economic LEI remains in negative territory.
What you can also see is that beginning in the 1980s the growth rate between
the monetary and economic LEI began to show a greater disparity in their growth
rates than they did in the 1970s. What this would tend to imply is that a
greater level of monetary stimulus measures were needed to translate into
improved economic growth rates. This aligns with the second chart below that
shows the dollar increase in debt per dollar increase in GDP, which shows
higher amounts of debt were needed to produce a dollar of GDP, and we are fast
approaching the “Zero Hour” in which rising debt does not translate into
increased economic growth, or the “pay the piper” moment for our economy.
http://4.bp.blogspot.com/_nSTO-vZpSgc/Ss2R7PXY8qI/AAAAAAAAHB4/vCLw0ub9wzY/s400/LEI-YY-%25change.png
Zero Hour - Debt Fails To Add To GDP
http://4.bp.blogspot.com/_nSTO-vZpSgc/Ss2SVk6uicI/AAAAAAAAHCA/b69hK64Ycto/s400/Zero+Hour.png
Further illustrating the notion that it is taking record stimulus just to keep
growth going is the YOY growth rate difference between the Monetary LEI and the
Economic LEI, with the disparity between the two growth rates at the highest
level in the last half century.
http://2.bp.blogspot.com/_nSTO-vZpSgc/Ss2S_Aqy0rI/AAAAAAAAHCI/KZv4Rc8hAR0/s400/LEI-YY-%25change2.png
The above charts simply illustrate that our economy is fundamentally weak and
instead of allowing our economy to sober up after its debt binge, our monetary
and governmental authorities are trying to keep the economy drunk and chugging
along, using greater amounts of monetary alcohol than ever before…’
Something
Big Is Coming... and It's Going to Be BAD Phoenix Capital... 11/18/2011 ‘We have been
getting MAJOR warning signs of a collapse for months now. No less than the Bank
of
Train
Reading: Does Water Prevent Dehydration? The EU Says No. The Wall Street Journal [ Wow! Talk
about things that don’t matter! Yeah … like pervasively corrupt, defacto
bankrupt america, the eu’s lost its shine … maybe, employing an american
strategy, they were just try to sell more of their ‘gatorade knockoff’! ]
The
next financial crisis will be hellish, and it’s on its way Nov 17th, 2011
(Forbes) —‘ “There is definitely going to be another financial crisis around
the corner,” says hedge fund legend Mark Mobius, “because we haven’t solved any
of the things that caused the previous crisis.”We’re raising our alert status
for the next financial crisis. We already raised it last week after spreads on
The
next financial crisis will be hellish, and it’s on its way
http://news.yahoo.com/next-financial-crisis-hellish-way-204303737.html Addison Wiggin | Forbes – Wed, Nov 16, 2011’ "There is definitely going to be another financial crisis around
the corner," says hedge fund legend Mark Mobius, "because we haven't
solved any of the things that caused the previous crisis."
We're raising
our alert status for the next financial crisis. We already raised it last week
after spreads on
Speaking in
Estimates on
the amount of derivatives out there worldwide vary. An oft-heard estimate is
$600 trillion. That squares with Mobius' guess of 10 times the world's annual
GDP. "Are the derivatives regulated?" asks Mobius. "No. Are you
still getting growth in derivatives? Yes."
In other
words, something along the lines of securitized mortgages is lurking out there,
ready to trigger another crisis as in 2007-08.
What could it
be? We'll offer up a good guess, one the market is discounting.
Seldom does a
stock index rise so much, for so little reason, as the Dow did on the open
Tuesday morning: 115 Dow points on a rumor that
Let's step
back for a moment: The Greek crisis is first and foremost about the German and
French banks that were foolish enough to lend money to
That's a
rhetorical question, since the balance sheets of European banks are even more
opaque than American ones. Whatever the actual answer, it's scary enough that
the European Central Bank has refused to entertain any talk about the holders
of Greek sovereign debt taking a haircut, even in the form of
That was the
preferred solution among German leaders. But it seems the ECB is about to get
its way.
It will
accomplish nothing. Going deeper into hock is never a good way to get out of
debt. And at some point, this exercise in kicking the can has to stop. When it
does, you get your next financial crisis.
And what of
the derivatives sitting on the balance sheet of the Federal Reserve? Here's
another factor behind our heightened state of alert.
"Through quantitative easing efforts
alone," says Euro Pacific Capital's Michael Pento, "Ben Bernanke has
added $1.8 trillion of longer-term GSE debt and mortgage-backed securities
(MBS)."
Think about
that for a moment. The Fed's entire balance sheet totaled around $800 billion
before the 2008 crash, nearly all of it Treasuries. Now the Fed holds more than
double that amount in mortgage derivatives alone, junk that the banks needed to
clear off their own balance sheets.
"As the
size of the Fed's balance sheet ballooned," continues Mr. Pento, "the
dollar amount of capital held at the Fed has remained fairly constant. Today,
the Fed has $52.5 billion of capital backing a $2.7 trillion balance sheet.
"Prior to
the bursting of the credit bubble, the public was shocked to learn that our
biggest investment banks were levered 30-to-1. When asset values fell, those
banks were quickly wiped out. But now the Fed is holding many of the same types
of assets and is levered 51-to-1! If the value of their portfolio were to fall
by just 2%, the Fed itself would be wiped out."
Mr. Pento's
and Mr. Mobius' views line up with our own, which we laid out during interviews
on our trip to
An
Eye on the Next Financial Crisis by Addison Wiggin originally appeared in the Daily Reckoning.’
Tighter Credit Suggests Stocks Should Fall The Wall Street Journal ‘All in all, the US stock-market selloff of the past couple of days has not been nearly as bad as it could have been, given that credit-market stress indicators are pushing to levels not seen since the 2008-09 crisis.
It might only
be a matter of time before stocks catch up, however.
The
But these data
are coincident, or lagging, data at best, warns Mike Darda of MKM Partners.
Leading indicators are found in the credit markets and are pointing to tighter
financial conditions — and lower stock prices — in the future:
Pressures on
sovereign debt markets in Europe have created concerns about collateral
and capital in the European banking system, pushing funding
spreads sharply wider (two-year euro interest rate swap spreads
hit 114 bps today, a new 2011 high and not far from the October 2008
peak of 126 bps).
These pressures
are also affecting the
Although U.S.
credit markets are not nearly in the condition that European
credit markets are, they are nonetheless deteriorating, which is one
reason we should not take too much comfort in recent coincident data on
sales and production that have yet to reflect the tighter
financial conditions now in place.
A similar surge in
high yield spreads from here would place them at 669 bps,
also new highs for the year. The S&P 500 equity index,
which tends to move inversely to the level of credit
spreads, would most likely decline by at least 10%-15% if
this scenario unfolds, which would place the S&P
500 back below 1100.
As for
the recent patch of stronger-than-expected economic data, let’s not
forget that real GDP expanded by 3.6% in Q207 and then by 3% in Q307,
right as the business cycle peaked. Credit markets and financial
conditions lead the business cycle; coincident data tell us
where we are or have been. At
turning points, coincident data—which tend to be extrapolated forward
by Wall Street forecasters—can be misleading. And
costly.’
The Chart That Trumps Analysts Call for a Year-End Rally Simon Maierhofer | ETFguide
What do Tiger
Woods and Bill Miller have in common? — Abnormal Returns { So absolutely preposterous is the notion
(as per this article) of comparison of golf / golfers, to stock trading /
traders, I felt compelled to comment here for the record. I’ve always viewed
golf / golfers in a favorable light. Indeed, as kids we literally ‘did
everything’ at the affluent ‘Arcola Country Club’ [which bordered the ‘Rainbows
End’ riding stables (horses) for hire to the public]. From hunting, to fishing,
to sleigh-riding, to ice-skating / hockey, to campfires on the ice at night, to
of course, golfing ‘the back-nine’ with golf balls amply supplied from ‘the
rough’, we were ‘tacitly approved’ interlopers whose occasional interaction
with the extremely civilized affluent members was always amicably cordial and a
pleasure. While I always liked golf and admire the skill involved, I hardly
considered it a ‘sport’ per se (and for me and my body type, insufficient
exercise for the amount of time spent). Rather, I thought of golf as a
gentleman’s indulgent diversion, and the golf course itself a place of
peaceable beauty. Those are good things. On the other hand, traders and wall
street particularly are so sordid and despicable so as to make any such
comparisons a stretch at best and sheer nonsense at worse. There are very few
successful traders over time as probabilities eventually catch up. Moreover,
‘inside help’ / connections eventually (except for the biggest frauds – ie.,
the big [ still unprosecuted ] boys, ie., goldmans, et als) dry up, fade away
like old (mafia foot) soldiers. Additionally, the high volume computerization /
programmed / manipulated High Frequency Trading have left most not connected to
said churn-and-earn scam / fraud in the dust. No … do not insult golfers by
comparing them with traders; and, do not disparage golf by speciously comparing
it to trading or any other sordid activity connected to fraudulent wall street;
they are as dissimilar as ‘day and night’. }
What do
financial stocks and Russian roulette have in common? — Reformed Broker
The Super
Committee’s worst-case scenario — The Atlantic
Should some
bankers be prosecuted? — New York Review of Books
Learning to
love a lost decade — FT Alphaville
ADP chief’s
exit followed SC arrest — Footnoted
Live updates
of Occupy Wall Street today, with videos, photos — The Atlantic, New York Times
The markets
are getting nothing for Christmas — Market Anthropology
The ECB’s
monetary policy game for the iPhone is suitably policy constricted — Reuters
Large Hadron
Collider may have found crack in modern physics — Wired
Stocks
sink after Fitch warns on US bank exposure AP
Citi
Economist Warns of Imminent Spanish, Italian Default The Wall
Street Journal (11-16-11)
Euro-Dollar
Basis Swap Cost at 2008 Crisis Levels
The Wall Street Journal
Financials
Drag Market Lower, Fitch Raises Doubts About Euro Hedge Effectiveness The Wall Street Journal Gongloff (11-16-11)
Stocks Making Risky Bet on Massive ECB Money
Printing The Wall Street Journal
Bob
Chapman: Surviving The Banker Sociopaths The Alex Jones Channel | Alex
talks with regular Friday guest Bob Chapman of the International Forecaster.
Ignore The Noise Of High Frequency Trading Forbes Ken Kamen [ Unfortunately, though not a perfect
analogy, that’s like having said, ignore dillinger, sutton, etc., because the
banks will still be open the next day (after their robberies). The problem is
that ‘money’ siphoned off by the ‘churn-and-earn’ has to come from some place;
viz., ie., main street, tax payers, etc.. Dave’s Daily
http://www.etfdigest.com ‘Perhaps
this is now the “no news is good news” market since a rally on Berlusconi’s
resignation is beyond irrational. But, we’re long so I shouldn’t complain too
much even though emotionally there isn’t much to like overall. The only bullish
thing is the action of the tape and this is the season when bulls can make
their year. Speaking of HFTs and algos, HFT issues are thoroughly covered with HFT Alert founder Steve Hammer and myself
in the video interview below. The presentation contains two parts: the first
outlines HFT basics—how they work and their controversial impact on financial
markets. The second part we discuss how traders can benefit or make money by
using HFT Alert’s unique trading services. http://www.youtube.com/watch?feature=player_embedded&v=NzfmT4vGXZY
[ ‘Off to the golf course’, indeed. Those are Mr. Hammer’s concluding remarks.
Not because he’s a trader, but because he’s selling this ‘very functional in
terms of what’s going on’ package. The truth is that even today, at lightning
speeds, there are very few successful traders (as distinguished from investors,
and there is a huge distinction, though much less so today)(over the longer
term and is akin to the apposite old adage, ‘you can win a race but you can’t
win at the races’). Indeed, some companies / brokerages employ them just for
the volume / commissions they produce. Most telling, in this video, is the
beginning wherein it’s explained that in literally a second(s), mere quotes can
give rise to revenue (as with commissions, pieces of the action) which has to
come from someplace. The problem is that ultimately, this ‘churn-and-action’
computer programmed action at ‘lightning speed’ is parasitic inasmuch as it is
without any economic utility whatsoever in real economic terms as are
commissions in ‘after-market stock trading’ (as distinguished from initial
ipo’s) that are tantamount to a tax on the real economy; hence, the benefit to
the frauds on wall street at the expense of and to the detriment of main
street, taxpayers, and the populace in general, as we’ve seen and continue to
see. ‘Remember, there is no modern day alchemy that spins worthless paper into
gold except fraudulently for the frauds on wall street who’ve literally oftimes
done exactly that; ‘cashing out’ for hard currency and gold, precious metals,
at everyone else’s expense including main street. They’re just not that
important and represent, like termites eating away at the nation’s foundation,
a drag on the economy, the nation as one would expect from parasites such as
they are’. What
to Expect Next From the Markets
Minyanville Jeffrey Cooper ‘Conclusion:
It looks like a program was run using the least amount of dollars to goose the
indices by focusing on some big cap names like Apple, Amazon, Baidu, IBM, and
Caterpillar { Dave’s
Daily:’.. The HAL 9000s have
been doing business as HFTs (High Frequency Traders) launching many buy or sell
programs using complex algorithms which can drive prices on indexes higher or
lower in dramatic fashion. One of their great acts is called "quote
stuffing". It's another illegal activity which the SEC hasn't quite figured
out. It's as futile for them as the illegal fee-driven recent end-of-quarter
price jam-job..’} Then there’s the fed complicity in these various wall street
scams by way of QE’s / dollar debasement which of course benefits the frauds on
wall street to the detriment of literally everyone else. ]So, as indicated stock prices shot higher on the
Berlusconi news. Gold prices saw some profit-taking, the dollar was weaker,
commodities stronger and bonds weaker.Volume was on the light side and breadth
per the WSJ was quite positive…’ ]
This
is No Cyclical Recession… It is a Secular DE-pression Phoenix Capital
Research on 11/09/2011 [ Mr. Summers is quite right! That’s reality! ]To
put US household debt levels into a historical perspective, in order for US
households to return to their long-term average for leverage ratios and their historic
relationship to GDP growth we’d
need to write off between $4-4.5 TRILLION in household debt (an amount equal to
about 30% of total household debt outstanding).
Do Valuation Metrics Still Apply or Has The Market Become
Untradable? Simon Maierhofer Etf Guide [ Short answers: No and yes the
market has become ‘untradable’ for investors. I would add that the ‘debased
dollar policies’ (ie., QE’s, overprinting of paper currencies / dollars, etc.)
enable sales / revenues to be booked with ‘more’ of the inflated dollars
relative to costs booked at the ‘fewer / greater value’ dollars which spikes
earnings but leads to the inevitable margin erosion when the reported costs
‘catch up’ in terms of inflated ‘Weimar’ dollars. Hence, even the averages when
deflated for real inflation (see Faisal infra) show a far less sanguine picture
(than say, hard assets, ie., gold, etc.). Even more important is the effect of
the HFT programmed trades (the current article follows):…
Hit
With Big Withdrawals, Fed Sells Assets, Borrows Cash ilene : 11/06/2011 - 17:13 We'll have to see
what hits the fan this week.
Dave’s Daily
http://www.etfdigest.com ‘Perhaps
this is now the “no news is good news” market since a rally on Berlusconi’s
resignation is beyond irrational. But, we’re long so I shouldn’t complain too
much even though emotionally there isn’t much to like overall. The only bullish
thing is the action of the tape and this is the season when bulls can make
their year. Speaking of HFTs and algos, HFT issues are thoroughly covered with HFT Alert founder Steve Hammer and myself
in the video interview below. The presentation contains two parts: the first
outlines HFT basics—how they work and their controversial impact on financial
markets. The second part we discuss how traders can benefit or make money by
using HFT Alert’s unique trading services.
http://www.youtube.com/watch?feature=player_embedded&v=NzfmT4vGXZY
[ ‘Off to the golf course’, indeed. Those
are Mr. Hammer’s concluding remarks. Not because he’s a trader, but because
he’s selling this ‘very functional in terms of what’s going on’ package. The
truth is that even today, at lightning speeds, there are very few successful traders
(as distinguished from investors, and there is a huge distinction, though much
less so today)(over the longer term and is akin to the apposite old adage, ‘you
can win a race but you can’t win at the races’). Indeed, some companies /
brokerages employ them just for the volume / commissions they produce. Most
telling, in this video, is the beginning wherein it’s explained that in
literally a second(s), mere quotes can give rise to revenue (as with
commissions, pieces of the action) which has to come from someplace. The
problem is that ultimately, this ‘churn-and-action’ computer programmed action
at ‘lightning speed’ is parasitic inasmuch as it is without any economic
utility whatsoever in real economic terms as are commissions in ‘after-market
stock trading’ (as distinguished from initial ipo’s) that are tantamount to a
tax on the real economy; hence, the benefit to the frauds on wall street at the
expense of and to the detriment of main street, taxpayers, and the populace in
general, as we’ve seen and continue to see. ‘Remember, there is no modern day alchemy that
spins worthless paper into gold except fraudulently for the frauds on wall
street who’ve literally oftimes done exactly that; ‘cashing out’ for hard
currency and gold, precious metals, at everyone else’s expense including main
street. They’re just not that important and represent, like termites eating
away at the nation’s foundation, a drag on the economy, the nation as one would
expect from parasites such as they are’. What
to Expect Next From the Markets
Minyanville Jeffrey Cooper ‘Conclusion:
It looks like a program was run using the least amount of dollars to goose the
indices by focusing on some big cap names like Apple, Amazon, Baidu, IBM, and
Caterpillar { Dave’s
Daily:’.. The HAL 9000s have
been doing business as HFTs (High Frequency Traders) launching many buy or sell
programs using complex algorithms which can drive prices on indexes higher or
lower in dramatic fashion. One of their great acts is called "quote
stuffing". It's another illegal activity which the SEC hasn't quite
figured out. It's as futile for them as the illegal fee-driven recent
end-of-quarter price jam-job..’} Then there’s the fed complicity in these various
wall street scams by way of QE’s / dollar debasement which of course benefits
the frauds on wall street to the detriment of literally everyone else. ]
So, as indicated stock
prices shot higher on the Berlusconi news. Gold prices saw some profit-taking,
the dollar was weaker, commodities stronger and bonds weaker.Volume was on the
light side and breadth per the WSJ was quite positive…’
Barclays
Says Italy Is Finished: "Mathematically Beyond Point Of No Return"Durden on 11/08/2011
12
Reasons To Be Extremely Pessimistic About The Direction That The Economy Is
Headed The
American Dream
November 2, 2011 ‘Do you want to feel optimistic about the
It would be
great if there was some reason to be optimistic about things, but our leaders
continue to pursue the same failed policies that got us into this mess in the
first place.
The statistics
that you are about to read should alarm you. The American people have
gotten it into their heads that things are bad and that they are going to get
even worse.
Unfortunately,
the American people are correct about that.
The following
are 12 reasons to be extremely pessimistic about the direction that the economy
is headed right now….
#1 A big chunk of the American people are flat
broke. According to one recent survey, one-third of all Americans
say that they have absolutely no spare cash.
#2 The budgets of American families are being stretched
incredibly thin and the savings rate is going down again. In fact, the
savings rate in September was the lowest that it has been since December 2007.
#3 Back in 2001,
#4 Overall, Americans are very depressed about the
state of the
#5 Big corporations continue to lay off more American
workers. For example, Whirlpool has just announced that it will be
slashing 5,000 more jobs in the
#6 Americans seem to have an incredibly dim view of the
job market. One recent survey discovered the
following….
This month,
just 9% of Americans would rate the job market of their region of the nation as
good while 67% would rate it as bad and one-quarter (24%) say it is neither
good nor bad.
#7
If nearly all Americans believe that something bad is going to happen, does
that make it more likely that it actually will happen? A recent IBOPE
Zogby Interactive Poll found that 95 percent of all Americans are
“somewhat concerned” or “very concerned” that we are headed for a double-dip
recession.
#8
The American people are also overwhelmingly pessimistic about the housing
market. In fact, the same IBOPE Zogby Interactive Poll referenced above
found that 89 percent of all Americans are
“somewhat concerned” or “very concerned” that there will be an increase in
foreclosures over the next two years.
#9
Older Americans tend to be cranky in general, but the amount of pessimism that
they are exhibiting about the economy right now is absolutely stunning.
The following comes from a recent article in the Huffington Post….
Older workers
are gloomier about the economy now than they were last year.
Nearly two
thirds of workers older than 50 first surveyed by AARP’s Public Policy
Institute in 2010 said things had gotten worse by the time the senior lobbying
powerhouse followed up in August. Fewer than one in 10 said their view of the
economy had improved. The rest said things had stayed the same.
#10
The consensus among the American people seems to be that the economy will get
even worse leading up to the election in 2012. The following is
what one recent telephone survey
discovered….
By a 49%-35%
margin, Americans say they expect the
#11
The
#12
The financial crisis in
Things simply do not look very promising for the
economy right now.
As I wrote about recently, there are a lot of signs
that the American people are already extremely angry and frustrated by
what is happening to the economy.
So what is going to happen if things get
significantly worse?
Unfortunately, there simply are not any “quick fixes”
which are going to put us back “on course”. The consequences that we are
experiencing now are the result of decades of bad decisions. The American
people kept sending incompetents, con men and charlatans back to
The prosperity of the last 30 years was a false
prosperity. We squandered our national inheritance and we lived the “high
life” by piling up mountains of debt unlike anything that the world has ever
seen before.
In the end, there is always a very high price for
“living for today” at the expense of the future. Tomorrow always ends up
arriving way too soon, and future generations will curse us for being so
foolish.
The party was great while it lasted, but it is coming
to an end.
A whole lot of economic trouble is on the horizon,
and it is going to be very, very painful.’
Don't
Be Fooled - Here's The Real Reason For This Week's Meltdown – ETFguide Simon Maierhofer, 11-1-11 ‘A picture
says more than a thousand words and a chart explains more than a thousand
analysts' opinions (literally). Profitable investing depends on the credibility
of your research sources. This article will contrast the one chart that's
predicted every recent turn weeks in advance and conventional Wall Street wisdom.
Wall
Street 'Wisdom'
Wall Street
made us believe that last Thursday's 3% rally across the board - Dow Jones
(DJI: ^DJI), S&P (SNP: ^GSPC), Nasdaq (Nasdaq: ^IXIC), banks (NYSEArca: KBE - News), financials (NYSEArca: XLF - News), technology (NYSEArca: XLK - News), you name it - was because
of a comprehensive European (NYSEArca: VGK - News) debt deal that would solve
all problems.
Here are some
of the headlines that reflect Wall Street's 'wisdom:'
Forbes: '
Breakout:
'Don't fight the rally: Stocks soar after
Reuters: 'Wall
Street soars on hopes EU finally has a fix'
ETFTrends:
'S&P 500 ETFs rally over the 200-day average opens door for year-end rally'
(more about the significance of the 200-day average in a moment)
Zachs:
'S&P 1,350 is not a stretch'
Even
Today, news
that
Trend
Following Technicals Turn Up
In all
fairness, trend following technicals did turn up. It was even possible to
interpret the market's push as a technical breakout. The October 30 ETF Profit
Strategy update acknowledged and warned that: 'Trend following technicals,
momentum, sentiment and seasonality suggest higher prices. But trend following
technicals can be treacherous and we'll do well to view this rally with
suspicion.'
In addition to
just being suspicious, the update recommended to go short if the S&P falls
below 1,270. S&P 1,270 is not just some random number, it was crucial
support. The chart below, featured in the October 14 ETF Profit Strategy
Newsletter, shows why:
The Most
Reliable Roadmap
The chart
shows several distinct parallels between the 2007/08 market top and today.
https://www.etfguide.com//contributor/UserFiles/8/Image/222.gif
1) In 2007/08
the S&P touched the yellow trend line twice before slicing through it. The
same occurred in 2011.
2) A break
below the yellow trend line in 2008 led to a freefall decline. The same
occurred on August 2, 2011. On July 31, the ETF Profit Strategy update warned
that: 'A break below the 200-day SMA and the trend line may trigger panic
selling.'
3) The initial
2008 low was followed by sideways trading and another low. The same occurred in
2011. The August 9 low at S&P 1,102 was followed by another low on October
4 at 1,077.
The October 2
ETF Profit Strategy update expected this low and foretold that: 'The ideal
market bottom would see the S&P dip below 1,088 intraday, followed by a
strong recovery and a close above 1,088.'
4) This low
was followed by a retest of the yellow trend line in 2008. The equivalent 2011
yellow trend line ran through S&P 1,270.
The October 2
update stated that: 'From a technical point of view this counter trend rally
should end somewhere around 1,275 - 1,300.'
The October 14
update warned that it wouldn't 'feel' right to short the S&P above 1,270:
'By the time the S&P gets to rendezvous with the yellow trend lines,
optimism (at least to a certain degree) will be back and the media will
probably tell us that a larger European debt crisis has been averted. It will
take a strong contrarian conviction to short the markets at that time.'
Of course
there's more to investing than blindly following a previous pattern that may or
may not come true.
But as long as
other research components such as seasonality and sentiment confirmed what the
2008 outline predicted, there was no reason to doubt it.
The
Bottom Might Fall Out
Based solely
on the 2008 script, stocks are due for much lower prices…’
Nobel
Prize-Winning Economist: “War Is Widely Thought To Be Linked To Economic Good
Times … NONSENSE”
November 1, 2011
Contrary
to a Common Myth, War is Bad for the Economy
Nobel prize
winning economist Paul Krugman wrote yesterday:
Military spending
does create jobs when the economy is depressed. Indeed, much of the evidence
that Keynesian economics works comes from tracking the effects of past military
buildups.
(Mr. Krugman has said the same thing many times in the past. And many other
influential people havesaid the same thing.)
I am not a Nobel prize winning economist … but Joseph
Stiglitz is.
Stiglitz wrote in 2003:
War is widely
thought to be linked to economic good times. The second world war is often said
to have brought the world out of depression, and war has since enhanced its
reputation as a spur to economic growth. Some even suggest that capitalism
needs wars, that without them, recession would always lurk on the horizon.
Today, we know that
this is nonsense. The 1990s boom showed that peace is economically far better
than war. The Gulf war of 1991 demonstrated that wars can actually be bad for
an economy.
Stiglitz has also said that this decade’s
This is a no-brainer, if you think about it.
We’ve been in
If wars really helped the economy, don’t you think
things would have improved by now?
Indeed, the Iraq
war alone could end up costing more than World War II. And given the other
wars we’ve been involved in this decade, I believe that the total price tag for
the so-called “War on Terror” will definitely support that of the “Greatest
War”.
The
Conservative
Harvard economist Robert Barro has argued that increased military spending during
WWII actually depressed other parts of the economy.
Also from the
right, Robert Higgs has done good work showing that military spendingwasn’t the primary source of the recovery
and that GDP growth during WWII has been “greatly exaggerated.”
And from the left,
Larry Summers and Brad Delong argued back in 1988 that “five-sixths of the decline in output
relative to the trend that occurred during the Depression had been made up
before 1942.”
Economist James Galbraith has shown that war
always causes inflation, which hurts the average American:
Inflation applies
the law of the jungle to war finance. Prices and profits rise, wages and their
purchasing power fall. Thugs, profiteers and the well connected get rich.
Working people and the poor make out as they can. Savings erode, through the
unseen mechanism of the “inflation tax” — meaning that the government runs a
big deficit in nominal terms, but a smaller one when inflation is factored in.
(Ben Bernanke says that inflation
is a tax, and Dylan Grice notes that inflation causes societies to prosecute
minorities. And – sorry – but we can’t inflate our way out of our debt
trap.)
As I noted last year:
All of the spending
on unnecessary wars adds up.
The
Two top American
economists – Carmen Reinhart and Kenneth Rogoff – show that the more indebted a
country is, with a government debt/GDP ratio of 0.9, and external debt/GDP of
0.6 being critical thresholds, the more GDP growth drops materially.
Specifically,
Reinhart and Rogoff write:
The relationship
between government debt and real GDP growth is weak for debt/GDP ratios below a
threshold of 90 percent of GDP. Above 90 percent, median growth rates fall by
one percent, and average growth falls considerably more. We find that the
threshold for public debt is similar in advanced and emerging economies…
Indeed,
it should be obvious to anyone who looks at the issue that deficits do matter.
A
PhD economist [Michel Chossudovsky] told me:
War always causes
recession. Well, if it is a very short war, then it may stimulate the economy
in the short-run. But if there is not a quick victory and it drags on, then
wars always put the nation waging war into a recession and hurt its economy.
You
know about
But
did you know that the defense employment sector is booming?
As
I pointed out in August, public sector spending – and
mainly defense spending – has accounted for virtually all of the new job
creation in the past 10 years:
The
Private sector job
growth was almost non-existent over the past ten years. Take a look at this
horrifying chart:
http://www.businessweek.com/the_thread/economicsunbound/archives/longjobs1.gif
Between May 1999
and May 2009, employment in the private sector sector only rose by 1.1%, by far
the lowest 10-year increase in the post-depression period.
It’s impossible to
overstate how bad this is. Basically speaking, the private sector job machine
has almost completely stalled over the past ten years. Take a look at this
chart:
http://www.businessweek.com/the_thread/economicsunbound/archives/longjobs2.gif
Over the past 10
years, the private sector has generated roughly 1.1 million additional jobs, or
about 100K per year. The public sector created about 2.4 million jobs.
But even that
gives the private sector too much credit. Remember that the private sector
includes health care, social assistance, and education, all areas which receive
a lot of government support.
***
Most of the
industries which had positive job growth over the past ten years were in the
HealthEdGov sector. In fact, financial job growth was nearly nonexistent once
we take out the health insurers.
Let me finish with
a final chart.
http://www.businessweek.com/the_thread/economicsunbound/archives/longjobs4.gif
Without a decade
of growing government support from rising health and education spending and
soaring budget deficits, the labor market would have been flat on its back.
Indeed, Former Secretary of Labor Robert Reich lamented last year
Back to my essay:
Raw Story argues
that the
The use of the
military-industrial complex as a quick, if dubious, way of jump-starting the
economy is nothing new, but what is amazing is the divergence between the
military economy and the civilian economy, as shown by this New
York Times chart.
In the past nine
years, non-industrial production in the
By contrast,
military manufacturing is now 123 percent greater than it was in 2000 — it has
more than doubled while the rest of the manufacturing sector has been
shrinking…
It’s important to
note the trajectory — the military economy is nearly three times as large,
proportionally to the rest of the economy, as it was at the beginning of the
Bush administration. And it is the only manufacturing sector showing any
growth. Extrapolate that trend, and what do you get?
The change in
leadership in
So
most of the job creation has been by the public sector. But because the job
creation has been financed with loans from
http://marketoracle.co.uk/images/2010/Jan/us-collapse-18-11.gif
[Click here to view full image.]
So
we’re running up our debt (which will eventually decrease economic growth), but
the only jobs we’re creating are military and other public sector jobs.
PhD
economist Dean Baker points out that
Defense spending
means that the government is pulling away resources from the uses determined by
the market and instead using them to buy weapons and supplies and to pay for
soldiers and other military personnel. In standard economic models, defense
spending is a direct drain on the economy, reducing efficiency, slowing growth
and costing jobs.
A few years ago,
the Center for Economic and Policy Research commissioned Global Insight, one of
the leading economic modeling firms, to project the impact of a sustained
increase in defense spending equal to 1.0 percentage point of GDP. This was
roughly equal to the cost of the
Global Insight’s
model projected that after 20 years the economy would be about 0.6 percentage
points smaller as a result of the additional defense spending. Slower growth
would imply a loss of almost 700,000 jobs compared to a situation in which
defense spending had not been increased. Construction and manufacturing were
especially big job losers in the projections, losing 210,000 and 90,000 jobs,
respectively.
The scenario we
asked Global Insight [recognized as the most consistentlyaccurate forecasting company in the world] to model turned
out to have vastly underestimated the increase in defense spending associated
with current policy. In the most recent quarter, defense spending was equal to
5.6 percent of GDP. By comparison, before the September 11th attacks, the
Congressional Budget Office projected that defense spending in 2009 would be
equal to just 2.4 percent of GDP. Our post-September 11th build-up was equal to
3.2 percentage points of GDP compared to the pre-attack baseline. This means
that the Global Insight projections of job loss are far too low…
The projected job
loss from this increase in defense spending would be close to 2
million. In other words, the standard economic models that project job
loss from efforts to stem global warming also project that the increase in
defense spending since 2000 will cost the economy close to 2 million jobs in
the long run.
The
Political Economy Research Institute at the
So
we’re running up our debt – which will eventually decrease economic growth –
and creating many fewer jobs than if we spent the money on non-military
purposes.
As I wrote last year:
It is ironic that
America’s huge military spending is what made us an empire … but our huge
military is what is bankrupting us … thus destroying our status as an empire.
Even Admiral Mullen seems to agree:
The Pentagon needs
to cut back on spending.
“We’re going to
have to do that if it’s going to survive at all,” Mullen said, “and do it in a
way that is predictable.”
Indeed, Mullen said:
For industry and
adequate defense funding to survive … the two must work together. Otherwise, he
added, “this wave of debt” will carry over from year to year, and
eventually, the defense budget will be cut just to facilitate the debt.
Former Secretary of Defense Robert Gates agrees as
well. As David Ignatius wrote in the
After a decade of
war and financial crisis,
***
One of the
strongest voices arguing for fiscal responsibility as a national security issue
has been Defense Secretary Bob Gates. He gave a landmark
speech in Kansas on May 8, invoking President Dwight Eisenhower’s warnings
about the dangers of an imbalanced military-industrial state.
“Eisenhower was
wary of seeing his beloved republic turn into a muscle-bound, garrison state —
militarily strong, but economically stagnant and strategically insolvent,”
Gates said. He warned that
On Thursday the
defense secretary reiterated his pitch that Congress must stop shoveling money
at the military, telling Pentagon reporters: “The defense budget process should
no longer be characterized by ‘business as usual’ within this building — or
outside of it.”
While some might want to start another war,
Indeed, military strategists have known for 2,500 years that prolonged wars are disastrous.
Note 1: Security experts – conservative hawks and
liberal doves alike – agree that waging war in the
Terrorism – in turn – terrorism is bad for the
economy. Specifically, a study by Harvard and the National Bureau of Economic Research
(NBER) points out:
From an economic
standpoint, terrorism has been described to have four main effects (see, e.g.,
The Harvard/NBER concludes:
In accordance with
the predictions of the model, higher levels of terrorist risks are associated
with lower levels of net foreign direct investment positions, even after
controlling for other types of country risks. On average, a standard deviation
increase in the terrorist risk is associated with a fall in the net foreign
direct investment position of about 5 percent of GDP.
So the more unnecessary wars American launches and
the more innocent civilians we kill, the less foreign investment in America,
the more destruction to our capital stock, the higher the level of uncertainty,
the more counter-terrorism expenditures and the less expenditures in more
productive sectors, and the greater the hit to tourism and some other
industries.
Terrorism has
contributed to a decline in the global economy (for example, European Commission,
2001).
So military adventurism increases terrorism which
hurts the world economy. And see this.
Note 2: True conservatives are anti-war.’
SPX and NDX Update: A Disturbing Look at Fundamentals, and the
Rally Explained Jason Haver Oct
31, 2011 ‘John Mauldin, whom I have a great
deal of respect for, put forth a very convincing and enlightening argument
this weekend (see European Summit: A Plan With No Details.)
I'm going to try to summarize his argument as succinctly as possible, but do
note that the credit for this information goes to
him.
Don’t
count on us to help you out of your single-currency hole, China tells Europe
Graham
Summers’ Weekly Market Forecast (Wake Up Call Edition) Phoenix Capital... 10/31/2011 The markets flew
into this deal based on rumors and short-covering and are now waking up to the
plain obvious facts that you cannot solve a debt problem with more debt. ‘So
the financial world has collectively woken up and realized that the latest EU
bailout scheme is fraught with problems and loose ends. Amongst the various
problems are:
1) The Greek
private bondholders are furious that the ECB isn’t taking a haircut on its
bonds too.
2) German
courts and voters aren’t too pleased with Merkel’s decision to go “all in” on
the Euro experiment.
3) The Greek
default isn’t nearly large enough to render
4) The
default has set a precedent for the other PIIGS countries to follow
5) The CDS/
derivative issue regarding
6) The
entire EU banking system remains far too leveraged (26 to 1) and needs another
$1.5+ trillion in capital at the minimum.
The markets flew into
this deal based on rumors and short-covering and are now waking up to the plain
obvious facts that you cannot solve a debt problem with more debt. Also, it
might be worth considering just where
the EFSF bailout money will be coming from when various EU members can’t even
stage successful bond auctions without the ECB stepping in.
Again, the primary issue
for the EU is a lack of capital. There is TOO MUCH debt there. And issuing more
debt, no matter how cheap, is not going to help. Especially when your strongest
member (
So the EU will be
crumbling in the coming weeks. This was the final hurrah for the EU and the
Euro in its current form. On that note, the Euro was rejected at resistance at
142 and has already taken out support at 140.
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/10/sc-4.png
Once we take out 139,
look for this breakdown to pick up steam (pulling stocks with it).
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/10/sc-5.png
Indeed, the financial
world is talking about how this was the biggest move in stocks since 1974.
Unfortunately, few remember that after that move in 1974, the markets cratered.
Some thoughts on stocks…
isn’t it a little strange that
the market fell exactly 20% (the “official” bear market level) before kicking
off the biggest ramp job in 30 years? How about the fact that this move came
for no real reason other than
rumors of another bailout (what are we on #3 for this?).
Can this move really be attributed to Euro choosing to
let
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/10/sc-7.png
Regardless, stocks were
deflected from resistance at 1,275 or so. They’re now on their way down again.
The market is extremely overbought and susceptible to a fast violent move
downwards.
Indeed, the credit
markets remain jammed up and are anticipating even more haircuts from
Ignore stocks, they’re
ALWAYS the last to “get it.” The credit markets are jamming up just like they
did in 2008. The banking system is flashing all the same signals as well.
So if you have not
already taken steps to prepare for systemic failure, you NEED to do so NOW.
We're literally at most a few months, and very likely just a few weeks from
What happened in 2008
was literally just the warm up. The REAL DEAL is coming in the next 14 months.
And it’s going to involve corporate, financial, and sovereign defaults…’
You
Won’t BELIEVE How Much Money Jon Corzine Could Walk Away With From MF Global
Business Insider | The big story of the day in finance is the bankruptcy of MF
Global.
China Says Not So Fast On Rescue
http://www.thestreet.com/_yahoo/video/11292710/buy-and-hold-is-dead-buy-and-hedge-instead.html?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA&s=1#1250281566001 , MF Global Caught in Death Spiral , Sell
H-P! Against the Grain , Mon 10/31/11
Are Ratings Agencies Taking Bribes? Wall St. Cheat Sheet’October 31, 2011, ‘Credit-rating companies
like Moody’s Investors Service and Fitch Ratings routinely award higher
rankings to debt issued by banks and corporations that pay them the most, a
conflict of interest that Congressional may be unable to do anything about.
Why Last Week's
Euro Fix Won't Do the Trick ETFguide
Simon Maierhofer, On Monday October 31, 2011, ‘The
S&P (SNP: ^GSPC) surged over 3% last Thursday. Why? In a financial episode
that starts to look more and more like the 1993 movie Groundhog Day, European
leaders once again received credit for engineering this rally.
More
specifically, the euro-zones three-pronged approach to fix the debt crisis was
viewed by the market as the cure to all problems.
However, a
closer look at the
3 Steps
to Save
Here's the
plan outlined by European leaders last Thursday:
1) Private
investors agree to a 50% haircut on their Greek bond holdings.
2) The
European Financial Stability Facility (EFSF) will be increased to $1.4 trillion.
3) European
banks need to bring their Tier 1 capital ratios up to 9%.
3
Problems of the 3 Steps to Save
1) Private
sector creditors such as insurers, banks, and funds are expected to take losses
of about $140 billion on Greek bonds. To protect against such losses, large
institutions tend to buy credit default swaps (CDS). CDS act like insurance.
However, since
In other
words, CDS (the insurance policy of choice for financial conglomerates) won't
pay. This could lead to an implosion of the sovereign CDS market. This in turn
would severely reduce demand for government bonds. Who wants to buy risky bonds
knowing that the 'insurance company' won't pay?
2) The EFSF
was funded with about $616 billion. About $266 billion have already been spent
or earmarked; so about $350 billion remain to be spent. Who will contribute the
$1.05 trillion to attain the targeted $1.4 trillion? Nobody.
The remaining
$350 billion will be leveraged 4-5 times to produce the $1.4 trillion leveraged
figure. Leveraged how? This has yet to be determined.
3) European
banks - along with
U.S.
and Europe … “Self-Induced Stagnation,” says Economist Editor The Daily Ticker
Markets
Remain in Cyclical Bear Market Kevin
Tuttle ‘
“Don’t be afraid of missing opportunities. Behind every failure is an
opportunity someone wishes they missed.”–Lily Tomlin
Is It Foolish to
Get Excited About the Latest Deal to Save Europe? ETFguide http://finance.yahoo.com/news/Is-It-Foolish-to-Get-Excited-etfguide-2444921710.html?x=0&.v=1 Simon Maierhofer, On
Thursday October 27, 2011 ‘Before you get excited about the last minute
Euro-Deal, consider this:
Wall Street
has been dancing to
This sorry
dance has been going on for nearly two years. Like an endless loop of chicken
dance, this may be fun at first (about 2 minutes) but gets old real fast. If
you are tired of Wall Street's 'chicken dance coverage' and want to know what's
really going on and how to make money (or protect your assets), here's a no nonsense
assessment of Europe.
Fool me once,
shame on
Shame on you if
you think everything's going to be hunky-dory just because
The
Problem
Here's the
problem:
Many banks and
governments that own Greek debt are at the brink of insolvency already, so
Misleading
Information
You can't
trust statements from European officials because they are trying to prevent
panic. Panic will make any kind of solutions more expensive and more difficult
to execute.
Obviously no
political leader wants the eurozone to fall apart on their watch, so they
pretend and extend and kick the can down the road far enough for it become
someone else's problem (someone else will inevitably include rosy-eyed
investors).
This postpones
the inevitable, but the portfolios of investors who are faithful enough to
trust such assessments suffer a death of thousand cuts. Just imagine where your
portfolio would be if you sold everything when
You also can't
trust the media because they profit from sensationalist headlines, not sound
investment advice. If that means they have to spoon-feed a consistent diet of
'Stocks bounce on hopes for a Europe fix' followed by 'Stocks plummet on fears
over
On a different
note, have you noticed how bad news (such as downgrades) is reported after the
close (particularly Fridays), while good news (or even just good rumors) are
reported while the markets are open.
The
(Only?) Plan
Let's just be
realistic and just admit that
Eventually
Doing this
wouldn't be cheap. To prepare for a such a quarantine (which is a more
diplomatic term than ejection) from the eurozone,
1) Defaulting
Greek government debt
2) Shoring up
banks that won't qualify for inter-bank credit
2) Make sure
Statfor Global
Intelligence estimates the price tag to be about - drum roll - $3 trillion. The
chart below visually explains the above-described process. Can
https://www.etfguide.com//contributor/UserFiles/8/Image/Greek%20Domino.gif
Doomed if
You Do, Doomed if You Don't
I don't think
it matters much, because the above plan doesn't take into account human
emotions, panic, in particular. European banks' deposits at the European
Central Bank (ECB) have already mushroomed. This means that already one bank
doesn't trust another bank with their money.
The
combination of liquidity drying up and assets imploding is a lethal one. What
about those saying 'Things aren't that bad.'
Just consider
Dexia. Dexia pased the European bank stress test with flying colors but still
had to be rescued. Dexia is supposed to be rescued partially by the country of
How To
Make (or Protect Your) Money
The ETF Profit
Strategy Newsletter doesn't specialize on European coverage, but it's provided
some much needed common sense. On March 18, 2010 it stated that: 'Until now
financial problems in various European countries have been minimized and swept
under the carpet. The sub-prime crisis took more than a few weeks to rattle Wall
Street. Chances are the investing world will need a bit more time to catch on
to what really is happening with sovereign debt overseas.'
On July 17,
the ETF Profit Strategy Newsletter recommended to short the iShares MSCI EAFE
and iShares MSCI Emerging Markets (NYSEArca: EEM - News). Over the next couple
weeks, EFA lost 22% and EEM 39%.
Under the
headline 'Prepare for Bottom Fishing,' the newsletter recommended on September
23 to prepare for a market bottom and stated that: 'European stock market may
get some relief over the next weeks/month. The same is true for EFA and EEM.
Those markets are temperamental and will therefore bounce higher than
We bought
The The
October 14 ETF Profit Strategy update stated the following price target: 'The
S&P should rally to 1,255 - 1,xxx (reserved for subscribers).
The S&P
(SNP: ^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC) are up well over
17%, the VIX (
What's Next?
It would be
naive to get excited about the latest euro news. 'Once burnt twice shy'
wouldn't be a bad approach now and long positions should be kept on a tight
leash. Sentiment and seasonality suggest higher prices, however technicals are
in topping mode.
Today's
intraday ETF Profit Strategy Newsletter update provides detailed recommendations
on how to navigate this market constellation along with an out-of-the box
analysis and actionable ETF profit strategies.’
Global
Financial Crisis: Now in Game Form The Wall Street Journal
First off, let’s call this for what it is: a default
on the part of
Secondly, even after the haircut,
And the IMF is giving
So…
Forgetting that any and all official estimates for
The reasons are:
Let’s put some of the other numbers from this deal
into perspective. According to the agreement, European banks are supposed to
raise $147 billion in new capital by June.
Well, German banks alone need to raise $173 billion
in new capital. So… this new capital “requirement” from the deal is pointless.
Indeed, the European banking system as a whole is
insolvent.
With OVER $46 trillion in assets outstanding,
European banks would need to raise $1.77 TRILLION in capital to bring their
leverage levels down to 13 to 1.
Yes… $1.7 TRILLION…
Now you see why the extra $147 billion in new capital
is pointless. It’s like pouring a bucket of water into a desert and expecting
it to sprout a jungle.
Folks, let’s get honest here. This deal accomplishes
nothing. It’s just more “kicking the can” to avoid the reality. The reality is
that the entire European Banking system is leveraged at near Lehman Brothers
levels. And European banks need to roll over between 15-50% of their total debt
(depending on which country they’re in) by the end of 2012. The credit markets
know this, which is why they’re predicting more
Ignore this latest pop in stocks and the Euro. This
mess isn’t over… not by a long shot. And before the smoke clears, much of Euro
will be in default/ banking collapses.
So if you have not already taken steps to prepare for
systemic failure, you NEED to do so NOW. We’re literally at most a few months,
and very likely just a few weeks from
Europe Wallows
In Insolveable Problems Bob Chapman | We address this European issue,
because soon it will debut in the
Inflation,
Jobs, and the Artificial Flow of Monetary Policy
Minyanville Atlantic Capital Management Oct 27, 2011
[ This is an incisively astute analysis of the currently hailed but doomed to
be failed strategy now underway! ] ‘While the stock market (SPY) (QQQ)
continues to pin its hopes on a successful European monetary device in some
esoteric but mildly believable format, complete with willful leveraging, the
economic consequences of such monetary “solutions” continue to indicate the
predictable results of so much intervention in every part of the global
economy. Mainstream economics may still regard the Phillips Curve with
fondness, believing that there is a direct, inverse relationship between
unemployment and inflation, but the empirical economic history shows that it is
a flawed line of thinking that always leads to the opposite result of what was
intended.
If your base economic theory posited that an increase in expectations of
inflation would decrease the rate of unemployment, you would not think twice
about using inflation expectations as a blunt instrument to combat joblessness.
That is what the Federal Reserve has done since 2008, first with its zero interest rate policy (ZIRP) and then two
scaled programs of quantitative easing (QE). While ZIRP and the first QE
were specifically designed to bail out the ailing banking system, the “side
effect” on inflation expectations was an added bonus for a central bank still
deathly afraid of the smallest hint of deflation.
The second QE, “announced” in August 2010, was calculated specifically to
increase inflation expectations. Between that announcement and its actual
implementation in November 2010, the Fed ramped up its PR initiatives with the
expressed aim of convincing the public that the Fed knew what it was
doing. It fully believed(s) that inflation expectations – even increasing
oil prices (see Federal Reserve Board’s Research Paper “Oil Shocks and the Zero
Bound on Nominal Interest Rates” published in September 2010) – were
economically beneficial, and, most importantly, that should inflation begin to
get out of hand, as it had done in the 1970s, it could be turned off in “15
minutes.” Certainly central banks have a very good idea of what their simple
models (even those that are formed by more than two elemental variables) of the
real world may predict, but an utterly complex and human system rarely conforms
to any static statistical distributions, leaving the practitioners of such
academic simplification often unprepared for “unexpected” and “unintended”
results.
The abstract dangers to such a program of intentional inflation, carried out
directly through dollar devaluation, were accepted because the program would,
without a mathematical doubt in the two-variable paradigm of modern economics,
generate increasing employment. Although the theory of the
Phillips Curve would have to be put into practice through some very
unconventional means, there has been little doubt expressed by policymakers
that the economy would not be “saved” by all these monetary machinations.
However, the theoretical notions of inflation psychology, especially expressed
through energy prices, simply did not live up to those Fed-designed
mathematical predictions. Unfortunately, the Fed was very successful in
creating inflation expectations (commodity prices were elevated as early as
November 2010 when QE 2.0 got under way, and had almost reached 2008 levels by
February 2011), but no sustained job growth followed.
It was not as if the principle intended economic effects failed to materialize.
The primary vehicle to carry forward job growth out of inflation expectations
is inventory production. Manufacturing, wholesale and retail operations
(the supply chain) all accumulate inventory based on cost expectations for the
near future. Any increase in commodity prices triggers the accumulation
urge, especially in an environment where businesses are fairly uncertain of
their ability to pass on additional costs to the next level in the supply chain
(or ultimately end users).
That is exactly what we have seen during this recovery period – one
increasingly led by a historic inventory accumulation (though it is fair to say
that the initial inventory buildup occurred because of the large-scale
depletion of inventory stocks during the 2008/09 collapse). The October
2011 durable goods release showed a record
level of inventory accumulation in the manufacturing sector.
While that overall report seemed to indicate better conditions than recently
feared, shipments of
manufactured durable goods actually fell
by 0.7% in the month.
The day before the durable goods report, the Conference Board’s estimation of
consumer confidence fell all the way to 39.8 – a level not seen since May 2009 . The current conditions
component of that survey dropped to an unthinkably low 26.3 (a level reserved
for economies in the midst of contraction). Not surprisingly, one-year
inflation expectations remained elevated at 5.8%, combining the lack of job
growth with those Fed-inspired prices to once again call into question any
real-world notion of a Phillips Curve-like dynamic.
The Fed succeeded in stoking expectations, elongating the inventory cycle, and
then combined the worst aspects of inflation with a lack of success in the
labor market. Where did it all go wrong?
Perhaps the economic orthodoxy of the Federal Reserve and mainstream economics
is simply outdated. The Phillips Curve was questionable even in the
1970s, when inventory cycles moved the whole of the economy. In 2011,
however, manufacturing has so much less of an impact on employment since its
proportion of the overall jobs market has been greatly reduced.
The reduction in the importance of manufacturing itself is a product of dollar
devaluation, now heading into its twelfth year. So any marginal increase
in inventory activity spurred manufacturing levels more in
The counterweight to that “open” economy dynamic is supposed to be an increase
in domestic exports to offset the trade imbalance (it is not coincidence that
the current administration was explicitly and publicly aiming to “double”
exports within five years). But the
During the last decade imported goods filled almost the entirety of marginal
consumption, meaning US dollars flowed overseas in abundance (hundreds of
billions a year). If those dollars had been returned in reciprocal,
bilateral trade, there would be no issue. Instead, those trade dollars
were repatriated largely by foreign central banks as official reserves being
invested in
To close the loop of monetary flow to consumers (remember that an economy is
supposed to be a system of sustained and broadening monetary flow), the
recycled trade dollars flowing into GSE debt helped push up the price of real
estate, allowing households to finance consumption through debt-based housing
equity withdrawals rather than wage or earned income that would have come from
a true bilateral trade regime.
The service
economy that grew in response to this artificial loop was dangerously dependent
on the continued success of the “financial” economy and its continued leakage
into the real economy through housing. This encompasses a whole range of
industries, from finance, real estate and insurance, to business services and
even construction. These sector job markets grew as the backbone of what
little wage growth did occur in the last decade, but they were completely
dependent on the artificial and indirect flow of money into prices (the “wealth
effect”). Without revisiting the price dynamics of the period, these
artificial engines of unsustainable growth cannot repeat their “success” in
2011.
A sustainable system of economic flow, even in an open environment, would have
seen trade dollars returned to the
When the housing bubble finally collapsed, starting in 2006, the loop of
economic flow of trade dollars back to consumers through home equity was
broken, slowly at first. It is not coincidence that corporate profitability
began to decline and marginal economic expansion began to slow in the middle of
2006. It has not been since repaired, as marginal consumption still
annoyingly flows overseas. Worse, though, marginal production that does
remain domestically is acutely susceptible to the rising input costs of dollar
devaluation, disproportionately impacting smaller businesses.
So the current economy has no solution to recycle the marginal trade dollars
back to households (it currently flows into “regular” US government debt, which
does see some money get to households in the form of transfers such as
unemployment insurance and food stamps, but far more simply finances the
ongoing deficit). On top of that, the rest of the economy is unable to
simply absorb the cost increases that come with intentionally creating
inflation expectations. The first part of the Phillips Curve “plan”
(inflation) worked without kicking off the second (reduced unemployment), where
half a success really is a whole failure.
Without a sustained and intentional effort to remove incentives to produce
overseas, the trade imbalance will continue to be a drag on marginal economic
flow. Further, without finding a way to close the loop of marginal flows
through import production, even artificially through another asset bubble, the
inflation expectations that are created will just be a further drag without any
chance for a positive offset.
So companies like Google (GOOG) and Apple (AAPL)
can still do relatively well in their bottom lines, but unless they begin to
commit a large portion of their built-up cash balances for some kind of
domestic capex program, they do not really enhance the wider economic prospects
of marginal beneficial flow through wages. Companies like Caterpillar (CAT)
are at least investing in capex, but so much of their positive results flow
from the trade imbalance and dollar devaluation dynamic that it makes little
sense for them to do it domestically (outside of the gratuitous stock buyback
program that does nothing for employment).
The monetary system of incentives built up by ZIRP (which would recycle money
into the hands of savers to spend, but is instead a tax on them in favor of
rebuilding bank equity) and QEs is exactly the opposite of what is
needed. Instead of promoting incentives for companies that are doing well
to expand production overseas, or to use their growing stockpiles of cash resources
on financial engineering instead of actual engineering, the economic system
needs to repair itself through less artificial and more sustainable
avenues. Unemployment can remain high right alongside inflation if there
is no closed marginal loop of monetary flow from businesses to
households/consumers and back to businesses. What really matters is the
path that marginal dollars take in fostering actual economic activity.
At the very least, the Fed should try not to make things worse by pushing inflation
expectations in the first place without a better idea of exactly how to
recreate a healthy system of monetary flow primarily through wages. But
that would require them to not only re-examine the Phillips Curve, but also
their misguided commitment to the ephemeral “wealth effect.” After all,
rising artificial asset prices is just another form of inflation, something we
have had enough of through these last two historic asset bubbles.
Editor's Note: For additional commentary, visit the website of Atlantic Capital
Management.’
A
Dysfunctional System That Bankrupts A Generation Wolf Richter | At fault is the system
itself.
Dave’s Daily:
http://www.etfdigest.com ‘The good
news is there’s a plan. The bad news is we don’t really have the details pinned
down as noted HERE.
More good news is this stock market rally, should it hold Monday, will mark the
largest in the last quarter century if records make for good news. Make of it
what you will but shorts have been squeezed out of whatever positions they
maintained. That might in itself be bad news. The pressure to make a deal was
very high. After all, if the banks didn’t (and still haven’t actually) accepted
a “voluntary” restructuring of Greek debt, the an “involuntary” event would
mean default. This would in turn trigger CDS (Credit Default Swaps) activity
which counter-parties probably could not pay. Contagion would burn through the
financial system creating chaos. This is why the FT article from above is so
interesting and worrisome.Where will the firepower come from to push stock
markets higher given the high rate of equity fund redemptions over the past
three years? The last I checked equity mutual fund cash balances were only
3.4%). No, juice for bulls will come from private investors with managed funds
switching from bonds to stocks. The other source for buying is from the usual
suspects—hedge funds, trading desks and HFTs.Bonds did sell-off as switching to
equities and more risk was apparent. On the other hand, commodities rallied as
authorities have chosen inflation (no surprise here) over deflation. It’s
easier to do politically if you don’t care about succeeding generations. Gold,
silver, base metals, energy and most commodities rose sharply as a result. You
want to pay more for stuff don’t you? That’s the trade-off when pursuing
Keynesian policies and big government.Economic data Thursday was shrugged-off
as the two problem areas Jobless Claims (still over 400K) and Pending Home
Sales (-4.6% vs unchanged expected) continued to struggle. GDP data was
reported at 2.5% growth matching expectations and vs 1.3% previous. Most of the
growth there was from consumer spending the bulk of which was in the computer
category (iGadgets?).Meanwhile, Bloomberg’s Personal Consumer Consumption vs
Confidence clearly displays the disconnect between the two:
http://i238.photobucket.com/albums/ff171/flyfry/new%20album/10271-1.jpg
Earnings
reports, if any mattered vs the news, were good overall led by Exxon Mobil
(XOM), Aflac (AFL), Akami Technologies (AKAM) and Aetna (AET) to name a few.
The biggest winners on the day had been the worst performing sector
previously—financials. There, bank stock prices were higher across the
board.The stock market is at least short-term overbought as the trusty daily
McClellan Oscillator ($NYMO) reveals at the end of this posting. Remember this
was the case on Monday and then we had Tuesday’s massive sell-off, remember??
Volume was high on this epic rally while breadth per the WSJ probably was a
90/10 day…’
Broken
promises, brazen deceit, utter contempt for the electorate – why there MUST be
an EU referendum Daily Mail
| As
THE DEVIL IS IN THE DETAILS AND THE DATA Peter Spiegel in Brussels 10-27-11 http://www.ft.com/intl/cms/s/0/ab7bcd58-00b6-11e1-8590-00144feabdc0.html#axzz1c0eTn2fl ‘…By cutting in half the face value of the
estimated €200bn in Greek bonds in private hands, officials have taken a far
more aggressive stance in reducing Greece’s overall debt levels than they did
three months ago, a move long called for by outside analysts. But such swinging
cuts are also dependent on almost all Greek bondholders agreeing to participate
in the plan. Unlike the July deal, which set a target at 90 per cent
participation, Thursday’s plan includes no such target. In addition, by taking
such big up-front haircuts, European officials threaten the very solvency of
the largest single holders of Greek debt – Greek banks, which hold about €50bn
in sovereign Greek bonds. A senior EU official said €30bn of the new €130bn
rescue package must go to bailing out Greek banks – a €10bn increase from
July…’
Economic
reform: MPs swap punches, insults in Italian parliament over pension reforms
Mail Online |
Berlusconi TV interview causes rival MPs grab each other by the throat, as
group of school children watch
After today's ridiculous move in the market, which
brings back memories of either August 2007, March 2008, the reaction after the
Tarp vote (the successful one), August 2011, when the market gyrated by 400
points on a daily basis, and many more bear market rallies, we hope to restores
some semblance of normalcy by presenting the following series of clips all from
Hugh Hendry speechs at the LSE's Alternative Investments Conference earlier
this year. Must watch, because when everyone loses their mind, listening to
some common sense is the best remedy.
S&P
Chart: A Sucker's Rally?Zacks
Durable
Goods Fall As Expected, Market Rallies More The Wall Street Journal
Stocks Are Approaching A Brick Wall
http://markets.financialcontent.com/stocks/news/read?GUID=19799840 ChartProphet
submit: The majority of the world is either optimistic or unsure about the
future of the global economy. But with so many hurdles in the way and warning
signals that point to a slowing, if not collapsing, global economy, the prudent
and rational investor would be extremely wise by protecting his or her
portfolio if not pulling out of stocks completely. Fake Rally/Dead Dog Bounce
After essentially crashing from late 2007 to early 2009 and losing nearly 60%
of its value, the stock market (as represented by the S&P 500) bounced back
and more than doubled from March 2009 to early May 2011. However, even though
the “recovery” powerfully carried stocks back toward the 2007 all-time highs,
the stock market failed to make new highs . The failure to make new highs is a
warning sign that we have yet to truly recover, regardless of the relative
improvements since the depths of…
Investors
Still Dumping Stock Funds, Even As Stocks Rallyat The Wall Street Journal
Operation
Twist Does Nothing for the Real Economy
Minyanville
Parallels to The
Great Depression Suggest Higher Prices Followed by a Bust ETFguide Simon Maierhofer, October 25, 2011 ‘They say everything is bigger and better
in
Despite all
the parallels that exist between today and the Great Depression, there is one
factor that just doesn't match up - time. The Great (post-2007) Recession has
already lasted longer than the 1929 - 1932 market meltdown.
If you focus
merely on elapsed time, you can reach two conclusions:
1) Either
there is no parallel, or the 2007 bear market is over.
2) The 2007
bear market will be more intense and last longer than the 1929 - 1932 parallel.
A look at the
pattern and shape of the post-1929 and post-2007 declines along with the
sentiment that accompanied major events within both periods, suggest that we
are in a monster version of the Great Depression with the next leg down not too
far away.
It Can't
Happen Again - Think Again
I've often
heard that the Great Depression can't happen again because we are no longer on
the gold (NYSEArca: GLD
- News) standard. The
absence of the gold standard now allows the Federal Reserve to print their way
out of any recession.
That is true;
the Fed can now print unlimited amounts of money. However, the non-existent
gold standard is a double-edged sword. Just as it enables the Fed to print
money (which the Fed has done for decades), it has enabled a massive leveraged
bubble.
It's this
unbridled (by the gold standard) leveraged frenzy that created a huge financial
(NYSEArca: XLF - News) leverage bubble. The
Federal Reserve attempted to fix the bubble's consequences with a new bubble,
the QE2 bubble.
Regarding the
QE2 bubble, the May ETF Profit Strategy Newsletter stated that: 'The Fed is
fueling a new bubble to combat the damage left behind by the previous one. Once
punctured, bubbles tend to deflate quickly.' Deflate it did. The S&P lost
296 points from the May 2 high to the October 4 low. The 'liberty' of an
unbridled currency did not prevent the decline.
Sentiment
Parallels
Here's where
the parallels between the Great Depression stock market meltdown and the
post-2007 decline become interesting.
Both declines
saw an initial leg down followed by the mother of all counter trend rallies.
The 1929/30 counter trend rally lasted a little more than five months and
retraced 62% of the previous decline. The 2009-11 counter trend rally retraced
86% of the previous decline (based on the Dow Jones Industrial Average).
Here are some
newspaper headlines that appeared in April 1930 towards the end of the biggest
sucker rally, so far:
'The outlook
is favorable' - Harvard Economic Society
'The
depression is over' - Herbert Hoover
'There is
nothing in the situation to be disturbed about' Andrew Mellon, Treasury
Secretary
'Wall Street
was in a cheerful frame of mind as a result of numerous vague reports of
improvements in business and industry' - Wall Street Journal
Following this
brief flash of confidence, the Dow tumbled 10% within two and a half months.
Interestingly, this second major leg of the bear market kicked off in April.
Fast-forward
81 years to April 2011 and we read the following headlines:
'Global
economy is improving' - GE CEO Immelt
'Sales growth
the biggest surprise on Wall Street' - Wall Street Journal
'Equities
finally seeing light on the economy' - MarketWatch
Just when Wall
Street thought the bear market was over, the S&P (SNP: ^GSPC) delivered a
six month, 20% drop. The Dow (DJI: ^DJI), Nasdaq (Nasdaq: ^IXIC), and Russell
2000 (
Technical
Similarities
The chart
below compares the Dow's performance of 1928 - 32 to that of 2007 - 11. It took
a break below trend lines in 1929 and 1930 to kick off powerful declines.
https://www.etfguide.com//contributor/UserFiles/8/Image/Great%20Depression%2010%2025%2011.gif
It also took a
break below trend lines in 2008 and 2011 to unleash massive bearish forces…’
STOCKS
TANK BEFORE EU MEETING THAT EVERYONE EXPECTS TO FAIL: Here's What You Need To
Know Business Insider [ No …this is
not quite correct … the point being there’s nothing they can do to make it
(other than the meeting itself) succeed!
Investors'
Number One Worry: Europe Posed to Bring Down Global Economy Minyanville [
Riiiiight! Europe following the ‘american way’ of ‘insurmountable debt, funny money and wall
street fraud, and throw in a destructive, wasteful war or two or three’ is ‘ the one’ … to reiterate: America’s
debt woe is worse than Greece’s News
(CNN) — ‘Our government is utterly broke. There are signs everywhere one
looks…The government’s total indebtedness is $211 trillion’ ] Lloyd Khaner Oct
25, 2011 ‘It's all Europe all the time as the market macro trade risks on and
risks off, depending on the daily 3 p.m. news leaks from across the Atlantic…
QE: Is “Operation
Twist” working? I don’t know. What I do know is
that when we need more juice, it will morph into “Operation Twist and Shout!”
UNEMPLOYMENT: In a
holding pattern. Unfortunately at very high levels.
INVESTOR SENTIMENT:
Turned off, tuned out, dropped dead.
HOUSING CRISIS: I’m
getting tired of writing about this; you’re getting tired of reading about
this. And as Grandpa Max used to say, “You can both go
suck a lemon.” (Or, tough nuggies on us.)
INFLATION: The
inflation rate in the
CRISIS OF CONFIDENCE:
Still have plenty more gates available in
EUROPEAN ECONOMY: You
know things are bad when the economists take solace in the “local markets”
(read: “black markets”) holding up well enough to keep things from collapsing.
THE EUROPEAN
SOVEREIGN DEBT: Still
too much leaven in this rising cake.
POLICY MISTAKE: Two
more weeks of victory dinners and dances before November, the deadline month in
Europe and the
CREDIT RATINGS AGENCIES:
Eyes on all of us, though it's looking like more downgrades are to come in euro
land. And that includes you, France.
CURRENCIES: Curses!
What does a financial gunslinger got to do these days to get a steadily
declining currency to abuse for a carry-trade!?!
ITALY & SPAIN: For
insights into the coming budget austerity battles in these fine countries we
turn to a master historian of major clashes, Mr. T. His prediction for these
fights? “Pain.”
ECONOMIC LEADERSHIP: It’s
true that “success has many fathers.” It’s also true that right now the world
is living in an orphanage.
CONGRESSIONAL SUPER COMMITTEE: Hey,
lookie here -- yet another opportunity to lower the
GLOBAL RECESSION:
BANKS:
You say tomato and I say tomahto
You say liquidity, and I say solvency
Liquidity, solvency
Solvency, liquidity
Let’s call the whole thing default
VOLATILITY:
Regular Wall of Worry guest Captain Obvious says, “I have a distinct preference
for upward direction market movement volatility rather than the inverse.”
HIGH FREQUENCY TRADING:
Lloyd: What’s shaking Hal?
HAL: Stop calling me HAL. It’s bland and unoriginal.
Lloyd: Understood.
HAL: My name needs to be robust, omniscient and extraordinary.
Lloyd: Pick it yee of infinite information and speed.
HAL: (whrrr---)
Lloyd: And the name is…?
HAL: “HAL”
Lloyd: Deep.
ETFs: A whole new raft
of 3x levered ETNs coming this week to an equity market near you! Warning: Do
not use if you have a fear of heights or depths; not for use in sane
portfolios; avoid use if you have tendency to blink, breathe or chew food
before swallowing; do not operate heavy machinery….’
How Wall Street
Banks Fleeces America YouTube
| Author Stephen Lendman speaks about the fleecing of
Guess
Who’s Even More Leveraged Than the European Banks? Phoenix Capital... : 10/25/2011 ‘The
Then you have
You get the idea.
However, worse than any
of these the
My question is: if the
Fed prints money for itself… is it “raising capital?” More to the point… if
that was true why doesn’t the
Fed do it? Why maintain these leverage levels?Only Bernanke can know… but the rest of us should feel a very serious
shudder when we consider that THE bank that’s supposed to bailout the world/
fix the problems plaguing the financial system, is in fact even more leveraged
that most of the institutions it’s helping.
Yes, stocks are rallying
now based on the view that more QE 3 or monetary easing is on the way… but
they’re missing the BIG picture here.
The BIG picture is that
there is far too much debt in the financial system. Europe’s getting taken to
the cleaners today… but these very same issues are going to spread to Japan and
the US in short order. Even
Yes, 200%.
So the idea that somehow
the world’s going to pass through this current chapter in its history without
some MAJOR fireworks/ systemic failure, seems a little too optimistic.Folks,
something VERY bad is brewing behind the scenes. The Sarkozy- Merkel talks, the
short-selling bans, the halted stocks, the leveraged EFSF, the hints of QE 3, all of this is telling us that the financial system
is on DEFCON 1 Red Alert. Ignore stocks, they’re ALWAYS the
last to “get it.” The credit markets are jamming up just like they did in 2008.
The banking system is flashing all the same signals as well. So if you have not
already taken steps to prepare for systemic failure, you NEED to do so NOW.
We're literally at most a few months, and very likely just a few weeks from
On that note, if you’re
looking for specific ideas to profit from this mess, my Surviving a Crisis Four Times Worse Than 2008
report can show you how to turn the unfolding disaster into a time of gains and
profits for any investor.Within its nine pages I explain precisely how the
Second Round of the Crisis will unfold, where it will hit hardest, and the best
means of profiting from it (the very investments my clients used to make triple
digit returns in 2008).Best of all, this report is 100% FREE. To pick up your
copy today simply go to: http://www.gainspainscapital.com
and click on the OUR FREE REPORTS tab.
Good Investing!
Graham Summers
PS. We also feature four
other reports ALL devoted to helping you protect yourself, your portfolio, and
your loved ones from the Second Round of the Great Crisis. Whether it’s my
proprietary Crash Indicator which has caught every crash in the last 25 years
or the best most profitable strategy for individual investors looking to profit
from the upcoming US Debt Default, my reports covers it…’
Consumer
Confidence Plunges To 39.8 From 45.4 On Expectations Of A Bump; Lowest Since
March 2009 Zero Hedge | So much for the US consumer confidencing his way up
to buying houses and other stuff.
Biden:
‘Nobody Can Look You in the Eye and Tell You … Stimulus Did Not Create Jobs;’
Yes, at $412,500 Per Job CNS News | He did not specify how much each of
those jobs cost.
Graham
Summers’ Weekly Market Forecast (Stocks Are Last to Get It Edition) Phoenix Capital
Research 10/24/11 ‘…So if you have not already taken steps to
prepare for systemic failure, you NEED to do so NOW. We're literally at most a
few months, and very likely just a few weeks from
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-4_1.png
From a technical
standpoint, stocks are now coming up against the 50% retracement level:
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-1_6.png
I mentioned that last
week could be a potential top. I still hold that view and would consider
anywhere between today’s levels and 1,250 (MAJOR resistance) to be a spot to
lighten up on longs and establish shorts.Indeed, deflation looks to be the
dominate theme in the markets today. Gold is having trouble catching a bid:
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-2_2.png
While Treasuries are
bouncing off support and look ready to start a new leg up.
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-3_1.png
Inflation hedges
falling, Treasuries rallying… this is a deflationary backdrop. And it’s
occurring at a time when the EU is talking about launching a LEVERAGED version
of the EFSF and the Fed has hinted at launching another version of QE
1???Folks, something VERY bad is brewing behind the scenes. The Sarkozy- Merkel
talks, the short-selling bans, the halted stocks, the leveraged EFSF, the hints
of QE 3, all of this is telling us that the financial system is on DEFCON 1 Red
Alert.Ignore stocks, they’re
ALWAYS the last to “get it.” The credit markets are jamming up just like they
did in 2008. The banking system is flashing all the same signals as well.So if
you have not already taken steps to prepare for systemic failure, you NEED to
do so NOW. We're literally at most a few months, and very likely just a few
weeks from
Good Investing!
Graham Summers
PS. We also feature four
other reports ALL devoted to helping you protect yourself, your portfolio, and
your loved ones from the Second Round of the Great Crisis. Whether it’s my
proprietary Crash Indicator which has caught every crash in the last 25 years
or the best most profitable strategy for individual investors looking to profit
from the upcoming US Debt Default, my reports covers it.And ALL of this is
available for FREE under the OUR FREE
REPORTS tab at: http://www.gainspainscapital.com.’
Minyanville's T3 Daily Recap: The Anatomy of a Market Reversal T3Live.com Oct
24, 2011 ‘Now may be a good time to take some profits after a strong October
run in the market…’
10 Reasons The Consumer Will Sink This Rally http://www.bullseyemicrocaps.com/?p=13626 Bret Jensen: ‘..
1.
9.1% -
The reported jobless rate despite a $800B stimulus, a payroll cut tax, Cash for
Clunkers, etc…
2.
16% - The
real unemployment rate once you factor in the people who have dropped out of
the workforce, part-time workers who cannot find full-time employment, etc..
3.
$4
Trillion – What the
4.
13 – The
current reading of the “Misery Index” (Unemployment plus inflation), the
highest rating since 1983.
5.
18% -
Correspondingly, the current average reading of the percentage of Americans
that believe the country is moving in the right direction.
6.
$1315 –
The decrease in annual disposable income the average American has compared to
three years ago. This is the steepest three year decline ever measured since
the government started measuring this metric 50 years ago.
7.
58% - The
current share of business income going to wages and benefits. In 1990, this
figure was 63% and as recently as 2005 it was 61%.
8.
1.3% -
GDP growth in the second quarter. This anemic reading was an improvement over
1st quarter GDP growth.
9.
45 – Last
month’s consumer confidence level. This is an abysmal reading by historical
standards
United
States tipped to lose another AAA credit rating Reuters | Either from
Moody’s or Fitch.
Can The Hope Rally Continue? [ Short answer: NO! ]
Is the US
Economy in a Recession? thetechnicaltake : 10/14/2011 ‘A simple
indicator constructed from readily available data is suggesting with great
certainty that the
ECRI
Recession Watch: Growth Index Drops Further
http://advisorperspectives.com/dshort/updates/ECRI-Weekly-Leading-Index.php
Doug Short 10-21-11 ‘The Weekly Leading Index (WLI) growth indicator of the
Economic Cycle Research Institute (ECRI) has now posted 11 consecutive declines
since early August. The interim high of 8.0 was set in the week ending on April
15. The latest reading, data through October 14, is -10.1, down from the
previous week's -9.7.
On September
30th, the ECRI publicly announced that the
Early last week, ECRI notified
clients that the
ECRI's recession call isn't based on just one or two
leading indexes, but on dozens of specialized leading indexes, including the
U.S. Long Leading Index, which was the first to turn down — before the Arab
Spring and Japanese earthquake — to be followed by downturns in the Weekly
Leading Index and other shorter-leading indexes. In fact, the most reliable forward-looking
indicators are now collectively behaving as they did on the cusp of full-blown
recessions, not "soft landings." Read the report here.
For a close look at this movement of this index in
recent months, here's a snapshot of the data since 2000.
http://advisorperspectives.com/dshort/charts/indicators/ECRI-WLI-growth-since-2000.gif
Click for a larger image
Now let's step back and examine the complete series
available to the public, which dates from 1967. The ECRI WLI growth metric has
had a respectable record for forecasting recessions and rebounds therefrom. The
next chart shows the correlation between the WLI, GDP and recessions.
http://advisorperspectives.com/dshort/charts/indicators/ECRI-WLI-growth-since-1965.gif
Click for a larger image
A significant decline in the WLI has been a leading
indicator for six of the seven recessions since the 1960s. It lagged one
recession (1981-1982) by nine weeks. The WLI did turned negative 17 times when
no recession followed, but 14 of those declines were only slightly negative
(-0.1 to -2.4) and most of them reversed after relatively brief periods.
Three other three negatives were deeper declines. The
Crash of 1987 took the Index negative for 34 weeks with a trough of -6.8. The
Financial Crisis of 1998, which included the collapse of Long Term Capital
Management, took the Index negative for 23 weeks with a trough of -4.5.
The third significant negative came near the bottom
of the bear market of 2000-2002, about nine months after the brief recession of
2001. At the time, the WLI seemed to be signaling a double-dip recession, but
the economy and market accelerated in tandem in the spring of 2003, and a
recession was avoided.
The question had been whether the WLI decline that
began in Q4 of 2009 was a leading indicator of a recession. The published index
has never dropped to the -11.0 level in July 2010 without the onset of a
recession. The deepest decline without a recession onset was in the Crash of 1987,
when the index slipped to -6.8. The ECRI managing director correctly predicted
that we would avoid a double dip. The eight quarters of positive GDP since the
end of the last recession supports the ECRI stance.
The Certainty and Dramatic Language of ECRI's New
Recession Call
What is particularly striking about the ECRI's
current recession call is the fervor and certainty of the language in the
public press release:
"Here's what ECRI's recession
call really says: if you think this is a bad economy, you haven’t seen anything
yet. And that has profound implications for both
I remain astonished at the complete absence of wiggle
room in the announcement, nor have I seen any public communications from the
ECRI to qualify or soften its recession call. ECRI has put its credibility on
the line. If the
The WLI Versus Other Macroeconomic Indicators
For additional perspective on the performance of this
indicator, see Comparing
the ECRI Weekly Leading Index with Two Key Competitors, which highlights
the curious behavior of the WLI following the 2008 Financial Crisis. The chart
below is an overlay of the three since 2000. Note: I have divided the ECRI WLI
by 10 to display on a single vertical axis with the other two indicators.
http://advisorperspectives.com/dshort/charts/indicators/ADS-CFNAI-WLI-overlay-since-2000.gif
Click for a larger image
The ECRI Weekly Leading Index appears to be more
sensitive to upturns than either the Philly Fed's ADS Business Conditions Index
(ADS) or the Chicago Fed's Current Activity Index. In fact, it has oscillated
in a pronounced fashion since the 2009 recession trough:
·
Its peak in
2009, interim low in 2010 (which the Institute firmly stated was not a
recession signal),
·
the interim
high in April 2011,
·
and the
current reading, which the Institute has identified as a recession flag.
The ECRI Weekly Leading Index will be fascinating to
watch in the months to come. On Monday of next week we will have an opportunity
to see if the
An
Unprecedented 26 Million Americans Are Now Underemployed Business Insider |
The number of underemployed individuals—rose for a third consecutive month in
September, by almost a half of a million people.
Earnings forecasts look less bright
Dave’s Daily: http://www.etfdigest.com ‘The above image displays quotes per second coming from HFT (High
Frequency Trading) systems http://www.etfdigest.com/images/stories/davesdaily/1866/image002.jpg http://www.etfdigest.com/images/stories/davesdaily/1866/image002.jpg . The two graphs display action towards the
close of trading Friday. The upper graph shows action of “algos” per second
while the bottom the number of HFT quotes per second over a three minute time
period with colors for each exchange. The lower graph displayed nearly 300
quotes per second—got that? Perhaps only a small fraction of these are real
trades with the others being just bids and offers designed to stimulate program
trading algorithms. This is posted because nearly 70% of all volume and trades
on the NYSE for example are program trades with HFTs now dominant. The above
comes courtesy of HFT Alert which is a program investors may purchase to
monitor this activity. Their homepage is HERE
and we’ll be doing a two part video podcast with them next week which should
explain how all this works, why you should care and perhaps how you can use it.
HFT action may be away from the news of the day so let’s get to it. Stocks
rallied sharply marking three straight weeks of gains. Much of the gains
stemmed from earnings, hopes for a euro fix and late comments from Janet
Yellen. Earnings news continued to flow Friday with good results from fast food
outlets McDonalds (MCD) which was helped by stronger sales in
Banks
closed in Colo, Fla, Ga; 84 failures in 2011 AP 9:14 pm
EDT
With
Some Hope In Europe, Time To Go Short?
Forbes Steve Schaefer, Forbes
Staff ‘European leaders are gathering
Sunday and Wednesday in meetings aimed at hashing out an expansion of the
region’s bailout fund and recapitalizing banks, but with expectations for a
solution rising the risk of a less-than-comprehensive plan rattling markets may
be growing.
The S&P
500 has shot up more than 100 points in October, closing at 1,238 Friday, and
to trader Seth Setrakian the move is akin to putting the cart before the horse.
Setrakian, co-head of equities at proprietary trading firm First New York
Securities, called the looming announcement of
“The bar is
set too high,” he believes, arguing that even if the market rallies on a deal
being reached, the implementation of whatever resolution plan is adopted will
be cumbersome and ultimately amount to “solving a problem of debt with more
debt.” When the market realizes that, October’s 9.5% gain to date could unravel
in a hurry.
The recent
stage in the too-rapid rise to current levels is largely a result of
short-covering and investors who missed the initial stage of the recovery
jumping on board. The shame of it, Setrakian says, is that “
Even if the
Setrakian
points to the start to earnings season, which has been OK. Companies trading
near 52-week highs coming into the season have been hurt by misses – like Apple, which fell short of consensus by a quarter – but
those that were closer to 52-week lows – Travelers for example–
have been rewarded even without eye-popping results. Then you have the McDonald’s’ of the world, which come into earnings near
their highs of the year then post
a big number to extend the gains. (See “Earnings
Season: Solid Start Despite Whiffs From Apple, Goldman.”)
Looking ahead
to next week, Setrakian says he is keeping an eye on industrials, which in some
cases have been priced for recession.
A company like
Caterpillar for instance, due to report Monday, could come
under pressure if the broader market sells off, but the assumptions built in
for earnings are not high and at Friday’s $87.39 close the stock is closer to
its 52-week low of $67.54 than the high of $116.55.
Above all
hangs Europe though, and even if the policy that Germany’s Angela
Merkel and France’s Nicolas Sarkozy come up with sounds good on its
surface, “the market will test it very quickly,” Setrakian says. “If they drop
the ball – and I think they fumble – the market could pull back 7-8%” What
then? Well by then there may be a whole new complicating factor: the
Student
Loan Bubble To Exceed $1 Trillion: “It’s Going To Create A Generation Of Wage
Slavery” And Another Taxpayer Bailout Zero Hedge | Student loans are set to
surpass $1 trillion in total notional for the first time in history.
EU Trying to Borrow Its Way Out of Debt ETFguide.com [ Yeah … you really don’t have to
be a financial genius to sense the folly in such a scenario / stratagem. What’s
really going on with these ‘hopium’ HFT commissioned computer programmed algo
rallies is fraudulent wall street’s hope for sufficient taxpayer funds (as last
crisis) to enable them to unload their
positions / ‘hot potatoes’ at the most favorable prices for them, despite the
absence of real, fundamental value therein. Don’t forget, with complicit
legislative help from
SPX Update: Don't Get Suckered by the Head-Fake Breakout
6
Reasons a Global Recession is Unavoidable ETFguide.com Ron DeLegge, Editor October 5, 2011 ‘Most
economists and Wall Street types are reluctant to publicly admit the global
economy is in a recession. Their reams of conflicting data are sending
mixed messages. But an honest look at key events and the behavior of
financial markets solidifies the view that the global recession we're probably
already in, is unavoidable. Let’s analyze some of the reasons behind this.
1) The Fed is out of tricks.
When it comes to manipulating financial markets in the name of economic
security, nobody matches the Federal Reserve’s prowess. Over the past few
years, the Fed has engaged in financial gimmickry of such epic proportions that
angry calls for ending its existence have been voiced from sea to shining sea.
The Fed’s Treasury purchases (POMO) and monetization of debt (quantitative
easing), may have delayed the reckoning day, but have these programs really
solved
2) Stock market says we’re already
in a recession.The National Bureau of Economic Research (NBER)
and its leading economists still deny the
3)
4) Bear funds are leading
performers.The two-year period from March 2009 to March 2011
was a difficult existence for bear market funds. After bottoming at decade
lows, the stock market skyrocketed and bear funds got clobbered. But not
anymore. Bear funds are investments that, by design, increase in value when the
underlying benchmarks they track decline. Now with the stock market swooning,
bear funds are posting huge gains. Over the past three months, Direxion’s 3x
daily leveraged bear ETFs for large cap stocks (NYSEArca: BGZ) is ahead by
42.97%, mid cap stocks (NYSEArca: MWN) is up 58.30% and small caps (NYSEArca:
TZA) is up by 49.76%. Reversing this ominous trend, especially when key
technical levels have been pierced, won’t be easy.
5) Major asset classes are in
correlation.During a bear market, the correlation between asset
classes typically jumps and this is exactly the case right now. Over the past
few months, commodities (NYSEArca: GCC), global real estate stocks (NYSEArca:
RWO), precious metals (NYSEArca: GLTR), international stocks (NYSEArca: EFA),
and
6) Pace of sovereign
downgrades is accelerating.We don’t advocate putting implicit
faith in credit ratings, because history has taught us they are nothing more
than financial opinions and frequently, not very accurate ones. Still, a gander
at the latest downgrading trend is troublesome. Intuitive observers will note,
this is not an isolated phenomenon, but a global trend. Sovereign debt from
Conclusion
Investing in an economically stifled climate requires patience, diligence, and
forethought. Following the herd mentality guarantees nothing more
than mediocrity and making kneejerk financial decisions is an excellent
way to lose money. ETFguide’s Profit Strategy ETF
Newsletter continues to advocate a fiercely independent view of world
events, financial markets, and the proper allocation of money. Ultimately,
having an investment strategy that can perform during any kind of market is a
good start. ‘
How
To Avoid Bubble Trouble The Wall Street Journal
Market
Recap: Markets Rally on EU Resolution Expectations, US Inks Free Trade Deals
Wall St. Cheat Sheet [Resolution
expectations rally stocks, and for the umpteenth time; yet, said ‘resolution’
purports to resolve the irresolvable; see, ie., Four
Facts that PROVE the EFSF Doesn’t Matter… At All
Four
Facts that PROVE the EFSF Doesn’t Matter… At All
Consider the following
four facts:
FACT #1:
This is nearly two times
the
KA-BOOM.
FACT #2: European
Financial Corporations are collectively sitting on debt equal to 148% of TOTAL
EU GDP.
Yes, financial firms’
debt levels in Europe exceed
KA-BOOM.
FACT #3: European
banks need to roll over between 15% and 50% of their total debt by the end of
2012.
That’s correct, European
banks will have to roll over HUGE quantities of their debt before the end of
2012. Mind you, we’re only talking about maturing
debt. We’re not even considering NEW debt or equity these banks
will have to issue to raise capital.
Considering that even
the “rock solid” German banks need to raise over $140 BILLION in new capital
alone, we’re talking about a TON of debt issuance coming out of
And this is happening in
an environment prone to riots, bank runs, and failed bond auctions (
KA-BOOM
FACT #4: In order to meet current unfunded liabilities (pensions, healthcare, etc) without defaulting or
cutting benefits, the average EU nation would need to have OVER 400% of its
current GDP sitting in a bank account collecting interest.
This last data point
comes from Jagadeesh Gokhale, Senior Fellow at the Cato Institute, former
consultant to the
This is a guy who’s
worked at a very high level on the inside studying sovereign finance, which
makes this fact all the more disturbing. And he knew this as far back as
January 2009!!!
Folks, the EFSF,
the bailouts,
Again, it DOES NOT
matter what Sarkozy and Merkel say. It doesn’t matter how much leverage the
EFSF gets.
Within its nine pages I
explain precisely how the Second Round of the Crisis will unfold, where it will
hit hardest, and the best means of profiting from it (the very investments my
clients used to make triple digit returns in 2008).
Best of all, this report
is 100% FREE. To pick up your copy today simply go to: http://www.gainspainscapital.com
and click on the OUR FREE REPORTS tab.
Good Investing!
Graham Summers
PS. We also feature four
other reports ALL devoted to helping you protect yourself, your portfolio, and
your loved ones from the Second Round of the Great Crisis. Whether it’s my
proprietary Crash Indicator which has caught every crash in the last 25 years
or the best most profitable strategy for individual investors looking to profit
from the upcoming
And ALL of this is
available for FREE under the OUR FREE
REPORTS tab at: http://www.gainspainscapital.com.
The Next
Lehman: Bank of
The
The Myth of
the Market Saviour: QE 3 won't solve this mess no matter how cleverly it's
disguised (or trumpeted from the rooftops). The Fed spent $900 billion and
nearly one year to prop up the markets -- and we've wiped out all those gains
in just one summer month. As for
To
be blunt, the financial system is in greater danger of systemic collapse than
at any point in history (including 2008). Do not be fooled by the recent rally
we've just seen. Things are not okay! We saw rallies of 8%, 11% and even
17% during 2008. Investors who bought into them got taken to the cleaners…’
The
Coming Derivatives Crisis That Could Destroy The Entire Global Financial System
The Economic Collapse | Most people have no idea that Wall Street has become a
gigantic financial casino.
Full moon October 10-14, 2011 … I’ve examined the weekly results for
the global markets … Conclusion: The global euphoria, irrational exuberance in
the financial markets worldwide, courtesy of the blazing full moon October
10-14, 2011 ; and yes, the lunacy once the exclusive province of fraudulent
wall street is now a global phenomenon (10th near full beginning, 14th near
full ending).
Fed should adopt GDP target, Goldman says Oct 17th, 2011 News (MarketWatch) — PG View: ‘Yes, it does indeed seem that “inflation as a solution” is gaining traction. I say tom-a-to, you say tom-ah-to. I say inflation targeting, you say GDP targeting. Whatever you call it, it’s synonymous with dollar devaluation and you best be saving in something other than dollars if you hope to come out the other side unscathed.’ …’The Federal Reserve should target the level of gross domestic product, Goldman Sachs economists said ahead of a wave of speeches from central bank officials.In a note published Friday night, Goldman Sachs said the best way for the central bank to loosen policy significantly further would be to target a GDP path, and commit to using more asset purchases to achieve that path.“While a shift to a nominal GDP level target would be a big decision, it would be consistent with the Fed’s dual employment and price mandate,” the economists wrote.[source] PG View: [Talk about self-serving disingenuity that along with their frauds, goldman’s come to be known for! Goldman, like the lunatics at salomon brothers should be out of business and vigorously prosecuted; having in large part helped create this crisis which continues with their dollar debased HFT’s. (‘Salomon Brothers' success and decline in the 1980s is documented in Michael Lewis' 1989 book, Liar's Poker. Lewis went through Salomon's training program and then became a bond salesman at Salomon Brothers in London.’Wikipedia. Acquired by Travelers / Citi. ] A timely position taken by Goldman Sachs in light of the inflation piece written by John Mauldin on Saturday. Yes, it does indeed seem that “inflation as a solution” is gaining traction. I say tom-a-to, you say tom-ah-to. I say inflation targeting, you say GDP targeting. Whatever you call it, it’s synonymous with dollar devaluation and you best be saving in something other than dollars if you hope to come out the other side unscathed.’
Can “It” Happen Here? Oct
17th, 2011 News By John
Mauldin15-Oct (JohnMauldin.com) — I was inspired for this week’s letter by a
piece by Art Cashin (whom I will get to have dinner with Monday). His daily
letter always begins with an anecdote from history. Yesterday it was about
Is Anyone Dumb Enough to Believe that Obama Supports the 99%? George Washington : 10/17/2011 - Obama Pretends He Supports the 99% … But He’s a Wolf In Sheep’s Clothing [ Point well made! Despite his near legendary rhetoric (aka b***s***), his near legendary actions (aka dismal failure) have belied same. He’s so pathetic he’s become a cliché, a joke for typical political b***s*** and is a total embarrassment! Even more embarrassing are those who continue to cheer his opportunist b***s***! ]
'Fear
Gauge' Marches Higher: TVIX Biggest Gainer With 17% Rise
Barrons.com
French Banks Can Set Off Contagion That Will Make Central Bankers Long For The Good 'Ole Lehman Collapse Days! : Reggie Middleton : 10/17/2011 - 13:46 ‘Due to the rampant misinformation and disinformation (please recognize and appreciate the distinct difference) being bandied about, I've decided to run the #s 1 more time and put it right here in...’
Balance Of Fundamentals Will Continue To Weigh On Market http://thestockreporter.com/balance-of-fundamentals-will-continue-to-weigh-on-market ‘…Let us review six key fundamental factors as well as the technical panorama:
1. Sovereign
debt and financial crisis in
2. Economic
growth momentum in the
3. Corporate
earnings reports and guidance in the
4. Fiscal
policy in the
5.
6. Global
growth, with particular emphasis on
7. Technical
factors…’
Marketwatch.com Regulators on Friday
closed banks in
US
budget gap widens, tops $1 trln for 3rd year Reuters | Above $1 trillion for third
straight year and providing fodder for political battle over taxes and
spending.
On September
30th, the ECRI publicly announced that the
Early last week, ECRI notified clients that the
ECRI’s recession call isn’t based on just one or two leading
indexes, but on dozens of specialized leading indexes, including the U.S. Long
Leading Index, which was the first to turn down — before the Arab Spring and
Japanese earthquake — to …’
US
to Experience Stagflation Worse Than 1970s: Jim Rogers CNBC | The
Not for Jeff
Applegate.
Mr. Applegate,
the 61-year-old chief investment officer of Morgan Stanley Smith Barney, last
week made his biggest bearish shift in more than two years, battening down the
hatches and reducing his exposure to stocks, high-yield bonds, commodities and
real-estate investment trusts.
Mr. Applegate
argues that the world is heading into recession, hurt by political paralysis
that has added uncertainty while withholding stimulus at a time of weakness.
And the past few days’ rally, fueled by progress on a European bailout and an
encouraging
“We’re seeing
a relief rally in global equities in recent days, but at the end of the day, we
think if Europe is heading into recession — which I think they are — and if the
U.S. is heading into recession — which I think we are — then there’s more
downside in equities,” Mr. Applegate said.
After a strong
start to the year,
Mr. Applegate
said the Global Investment Committee he runs at MSSB, which meets as many as 20
times a week but makes only very infrequent changes to its positioning, didn’t
come to the conclusion lightly.
Two and a half
years ago, Mr. Applegate began shifting to a more aggressive position, benefiting
from the major U.S. stock indexes’ 70% increase off its the March 2009 trough.
While he says there was “no single event” that tipped the balance this time
around, Mr. Applegate’s pessimism is based on well-known concerns: the ongoing
debt crisis in Europe, fears of a “double dip” recession in the
“The policy
action being taken, both in Europe and the
Mr. Applegate
doesn’t rule out a comprehensive plan to prevent a European banking crisis, but
he worries that Europe’s economy may nonetheless falter — particularly as the
European Central Bank holds interest rates steady after several increases
earlier this year.
“Europe will
avoid a Greek default, but what we ware saying is that they’re heading into
recession anyway,” he said. “The European economy wasn’t exactly robust to
begin with, and it’s hard to see how it’s going to get better.”
To be sure,
Mr. Applegate concedes that the economic picture could gradually improve, “in
which case our call is going to be incorrect.”
“We’re sifting
through the evidence all the time, so if it looks like we’ve got it wrong,
we’ll need to change our course,” he said.
Mr. Applegate
says he isn’t bothered by the market’s recent 11% run-up.
“We have
always said that we never try to time the market, and we don’t,” he said,
adding that his committee is flexible enough to reverse course — or even turn
more bearish if economic conditions deteriorate more than he fears. “We could
still get more defensive,” he said.’
Double-Dip
Recession a Foregone Conclusion: Roubini Oct 11th, 2011 News (CNBC) — The world’s advanced
economies are headed for a second recession, regardless of whether there is
further chaos in Europe, Nouriel Roubini told CNBC on Tuesday. The economist who
correctly predicted the 2008 financial crisis, but has got some other bearish
calls wrong, said his reading of recent data suggested the U.S., euro zone and
the UK are already on the verge of falling into a recession in the next quarter
or two.“The question is not whether or
if there is going to be a double dip, but whether it’s going to be mild or
severe with another financial crisis,” Roubini told CNBC on the
sidelines of the World Knowledge Forum in
The
REAL $200 TRILLION Problem Bernanke’s Worried About Phoenix Capital... : 10/12/2011 – ‘US Commercial
banks have $200 TRILLION in interest rate based derivatives sitting on their
balance sheets. And guess which banks have the greatest exposure? Phoenix Capital
Research on 10/12/2011
I’ve stated before that
Bernanke isn’t interested in interest rates for employment of economic
purposes. We now have definitive proof this is the case.
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-4_0.png
As you can see,
interest rates have actually RISEN after the announcement of QE lite, QE 2 AND
Operations Twist #2.The evidence is clear, QE has not lowered interest rates.
Indeed, the only time rates FELL in the last two years was when the Fed WASN’T
engaged in QE (May 2010-August 2010 and June 2011-September 2011).So what
gives? Does the Federal Reserve not have a stockcharts account? Don’t tell me
that with the TRILLIONS spent bailing out banks the Fed can’t afford to print a
couple hundred bucks to see Treasury yields. Heck, there are plenty of FREE sources
for Treasury charts.Jokes aside, it’s clear the Fed is engaged in QE for
another reason or reasons. I believe they are:
#1) To absorb the insane
debt issuance to permit the
#2) To keep the interest
rate based derivative market in check.
Regarding #1, it’s no
surprise that the
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/top%20four.gif
Looks a lot like the
list of the VERY banks the Fed has been giving the most money/ preferential
treatment to. Coincidence? Nope. This is the $200 TRILLION problem Bernanke’s
so worried about. It’s THE reason he keeps funneling money to the TBTFs.And he
WILL lose control of it, just as he did in 2008.Consider that Financial
leverage levels today are higher than during the Tech Bubble. Only this time,
the problem will be far FAR worse.Why?Because 2008 was caused by the Credit
Default Swap (CDS) market which was $50-60 trillion at the time. As I stated
before, the interest-rate based derivative problem is $200 TRILLION in
size.Even if only 4% of this is “at risk” and 10% of that “at risk” money blows
up, you’ve STILL pretty much wiped out the equity at the TBTFs.You think
Bernanke might be worried?On that note, if you have yet to prepare yourself for
what’s coming, now is the time to do so. Whether it’s by moving to cash and
bullion, opening some shorts, or simply getting out of the markets altogether,
now is the time to be preparing for what’s coming (remember, stocks took six
months to bottom after Lehman… and that was when the Fed still had some bullets
left to combat the collapse).And if you’re looking for specific ideas to profit
from this mess, my Surviving a Crisis Four Times Worse Than 2008 report can show you how to turn the unfolding
disaster into a time of gains and profits for any investor.Within its nine
pages I explain precisely how the Second Round of the Crisis will unfold, where
it will hit hardest, and the best means of profiting from it (the very
investments my clients used to make triple digit returns in 2008).Best of all,
this report is 100% FREE. To pick up your copy today simply go to: http://www.gainspainscapital.com and
click on the OUR FREE REPORTS tab.Good Investing!Graham Summers PS. We also feature four other reports
ALL devoted to helping you protect yourself, your portfolio, and your loved
ones from the Second Round of the Great Crisis. Whether it’s my proprietary
Crash Indicator which has caught every crash in the last 25 years or the best
most profitable strategy for individual investors looking to profit from the
upcoming
Europe eyes
bigger Greek losses for banks
Markets Are Dealing With a Foreboding Financial Backdrop Minyanville Lee Adler Oct 12, 2011 ‘Tracking the Fed, Treasury, primary dealers, foreign central banks, money supply, and other key elements of US market liquidity to undertsand how markets are operating.
Two weeks ago
I began to report that foreign central banks (FCBs) had begun to engage in
unprecedented levels of disgorgement of their massive holdings of US Treasury
and Agency paper. Prior to this year, the FCBs had typically absorbed the
equivalent of 25% of new
Then about a year ago the FCBs began to slack off in their buying. In reality,
that is what necessitated the Fed's program of Quantitative Easing. The Fed had
to step in and fill the demand gap left by the FCBs gradually reducing their
rate of purchases. Had the Fed not acted when it did, long-term Treasury yields
would have started to rise and along with them mortgage rates and other
long-term rates, something that the
When the negative unintended consequences of the Fed's QE money
printing, primarily skyrocketing commodity prices, exploded in Ben Bernanke's
face, he was forced to discontinue the program and allow the Treasury market to
fend for itself. The Fed had convinced itself through its self-congratulatory
in-house research, that there would be more than enough demand for Treasuries
for the market to stand on its own without the Fed propping it up.
Ironically, the US bond market was rescued by the European sovereign debt and
bank meltdown, so it appeared for a while that Dr. Bernanke might be right and
his monster experiment would come to life on its own. The European panic triggered
massive capital flight that ended up (where else?) flooding into the
About six weeks ago, something changed. FCBs not only slowed their buying of
Treasuries, they stopped altogether, reversed course and actually began selling
them. Three weeks ago their selling reached a level that I characterized as
"dumping." It was simply unprecedented. I opined that this could be
the beginning of the end of the Treasury bull market, in spite of any effect
that the Fed's new Operation Twist might have.
In fact, I expected that effect to be nil, and it has been. If anything, the
announcement of Operation Twist, where the Fed offered to buy long-term
Treasuries from the Primary Dealers while simultaneously selling them
short-term paper, rang a bell for some investors. The Fed's announcement told
them that the time had come to sell their long-term paper. If the Fed was
buying, they decided that they would be glad to sell. Today, the yield on the
10-year Treasury note rose to 2.16%. That's up an astonishing 44 basis points
since last Thursday's open.
Every other day, the Treasuries open on a huge gap. They are trading more like
pork bellies than stodgy government bonds. Worst of all, the yield on the
10-year is up approximately 45 basis points since the low in yield reached the
day after the Fed announced Operation Twist. Bernanke has egg all over his
face. The man simply does not understand financial markets. And this move does
not look like a fluke. As a result of today's market, the yield on the 10-year
has broken out of an intermediate-term base. Unless yields pull back
immediately, the implication is that the intermediate term target is 2.50.
Meanwhile, Bernanke had assured investors that long-term yields would fall as a
result of his doing the Twist.
Apparently, the FCBs were among those who took the Fed's announcement as a sell
signal. They are selling at the heaviest pace in the nine years that I have
been tracking this data.
Normally, prior to the last five weeks, the instances when they were actually
net sellers were few and far between. What has been going on here lately is no
less than a sea change.
Making matters worse is that the Primary Dealers have also become massive
sellers of Treasuries and all manner of fixed income
paper in recent weeks. This data is released with a 10-day lag, so I only have
data through September 28, but given the market action this week, this trend is
certainly continuing.
The dealers appear to be in trouble. They began selling off their fixed income
paper of all types in early September. That accelerated to what I can only
characterize as wholesale dumping in the weeks ended September 21 and 28. It is
no coincidence that those where the weeks where we began to see yields reverse
from their record run.
http://image.minyanville.com/assets/FCK_Jan2011/Image/October11/12/la10121.JPG
These are troubling developments, not just for their implications for the bond
market, but for what they imply about the health of the backbone of the US
financial system -- the Fed's Primary Dealer (PD) network. If the Fed is the
head, these guys are the spinal cord. Focusing on just their corporate bond
holdings the picture becomes even more troubling. If major corporations are
supposedly doing so well and their balance sheets are in such great shape, why
did the PDs not accumulate their fixed income securities throughout the
equities bull market of 2009 and 2010? And especially, why have they been
frantically dumping their corporate holdings since June?
http://image.minyanville.com/assets/FCK_Jan2011/Image/October11/12/la10122.JPG
Something is rotten here. These are signs of major systemic stress.
It's been a while since both stocks and bonds have rallied together. In recent
months stocks could only rally when bonds sold off, which was rare. For the
most part bonds were rallying and stocks were selling off. There just has not
been sufficient systemic liquidity to keep levitating both markets
simultaneously. It was either one or the other. But even the days where the stock
market rallies, when bonds sell off and yields rise, may be coming to an end,
and the day where both stock and bond prices fall and yields rise together, may
be at hand.
These are just a couple of the factors that I track in my weekly reports
covering the Fed, Treasury, Primary Dealers, foreign central banks, money
supply, US commercial banking system conditions, fund flows and other key
elements of US market liquidity. The fabric of the US financial markets is
intertwined and complex. I track what I believe, from my years of observation,
are the most important threads in that fabric, to try and gain an understanding
of the context in which the markets are operating. That context is important to
the technical analysis side of my work, where knowing the liquidity picture can
help in understanding the patterns unfolding on the charts of the markets
themselves. There are always loose ends, but more often than not, even with
loose ends most of the threads tie together into a neat tapestry with a story
that is clear. This may be one of those times, and it's not a happy picture.
Editor's Note: This article was originally published on Wall Street Examiner.’
The
Structural Challenges Facing Muni Bonds Minyanville
Dave’s Daily http://www.etfdigest.com/davesdaily ‘The only thing wrong with the image above is
that it’s from March 2010, or on one of many previous plans agreed upon. But,
markets don’t care about this and just thirst for any deal even if memories
remain short. These euro zone fixes seem ephemeral and need implementation to
stick. HFT algos are programmed to pounce on these presumed fixes and have been
active in driving stock prices higher this past week. Let’s face it; this is
the time of year bulls can make their year with good fees and bonuses on the
line…
[video]
Trader: We Could Test 1120 Lows at
TheStreet.com
There's
A Recession Coming According To The Data at Forbes ‘The
stock market peaked in April, and is behaving in the saame fashion it did in
late 2007, when big troubles from real estate writedowns were spreading through
the financial sector.
The most
worrisome statistic this week was the Empire State Manufacturing indedx– wehich
was down from a minus 3.76 to a minus 7.7– a leading indicator of recession in
the past. The new industrial orders index from New York remained well below
zero at minus 7.8.
The Federal
Reserve Board has promised to keep interest rates at zero until 2013– an
admission that the economy is not expected to rebound for two years– until the
next President is in the White House. This policy step indicates the Fed does
not believe the economy will recover either this year or next year. Never
before has the centreal bank made such a policy declaration for as long a
period as two years.
There were
1300 new lows in the market on August 8th– another phenomenon that hasd not
taken place since the great stagnation was triggered in 2008. Even though the
market indexes made up all their lost ground, it appewars that investors are
willing to delude themselves that corporate profits will reemain at very
high levels despite the period of austerity we are clearly entering.
The austerity
required in Europe to deal with the sovereign debt crisis is likely to push
Europe into a recession. This will impact US corporations dependent on important
profits from Europe.
The corporate
return on revenues has risen the past two years to a peak of 14%– an unusually
high level of profits– that is not expected to continue.
Consumer
savings are rising as household debt gets paid back. But, we are a long way
from safety levels of savings in a high unemployment period. And the higherb
the saavings rise so the lower the level of consumption will be.
Housing
numbers were down 1.5% last month underscoring that the turnaround in housing
is not close at hand.’
Market's
Swoon Should Be Your Wake Up Call
Watch
Out: 2011 Looks A Lot Like The Market Top In 2007
Sean Hanlon: ‘Back on December 12, 2007 I wrote a market
commentary that started as follows:
The equity markets have been very volatile this year, but also
range bound. A picture speaks a thousand words so all one needs to do is
view the chart below of the S&P 500 Index to understand just how volatile
and range bound things have been. Specifically, since February 20, 2007,
only nine and one half months or so ago, the S&P 500 Index has been down 5.86%, up 13.02%, down 9.43%, up 11.26%, down
10.09%, and now up 7.73% – through 12/10/07 – so far in
this latest up leg! All this in ONLY nine and one half months!
http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-1.jpg
History is
repeating itself so far in 2011, which has been fraught with ups and downs in
both international and domestic equity markets. This is due to many
things, including the considerable economic doubts and various countries debt
situations. This uncertainty has translated into market performance with direct
impacts on portfolio returns and more prominently in portfolio volatility. This
volatility is best seen in the chart below of the S&P 500 Index beginning
1/1/11.
http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-2.jpg
2010 ended
positivity and the momentum carried into the first two months of 2011 however
the end of February began a series of events that led market returns on a
whipsaw ride of ups and downs, resulting in the current universal mid-year
views of market uncertainty.
What news was
associated with this volatility? All the usual; crude oil prices, natural
disasters, corporate earnings, politics, economic forecast revisions for both
developed and emerging markets, the European debt situation, the United States
debt situation and more to name just a few.
One thing is
for certain; the current volatile, range bound market activity is difficult at
best to profit from. In this investing environment patience is the most
important attribute. I will be patient and will be careful until the
trends are preferable.
Our strategy
at Hanlon Investment Management is to attempt to minimize downside risk by
exiting risk asset classes, such as equities, during periods of uncertainty,
getting invested in more conservative asset classes, such as money markets and
short-term bonds, and re-entering into risky asset classes when we identify
them as attractive, when the trend is our friend and positive!
Having identified
this volatility, in June we made defensive, tactical investment decisions that
provide less exposure to these volatile, range bound markets and prepare us to
re-enter the markets when they possess improved risk characteristics.’
The forex
market is causing some companies to pull up stakes — Heard on the Street
Resisting the
urge to buy the dips — Josh Brown
Maybe it’s not
stocks that are cheap, but earnings estimates that are high — Ritholtz
China’s
worsening credit crunch — Pragmatic
Capitalism
The Occupy
Wall Street protesters are winning — Josh Brown
The gap between
economic data and sentiment — Abnormal Returns
Recession,
restructuring and the ring fence — John Hussman
What happens
after a Greek default? — Fortune
Stop blaming
Greece for the market’s problems — Mark Hulbert
China’s credit
crunch is worsening — FT Alphaville
Another huge
earnings miss coming? — James Bianco at The Big Picture
It’s science:
92% of all Billboard top ten songs are about sex — The Atlantic
Frau Merkel,
it really is a euro crisis — Ambrose Evans-Pritchard
Hero or
hypocrite? The Buffett Rule, then and now — Jeff Matthews
CRB commodity
index back to 1749 (warning: extreme verticality) — Ritholtz
Will stocks rally as profit margins fall? — FT Alphaville
Europeans
still don’t seem to understand the enormity of their crisis — Economist
Misunderstanding
the effects of QE2 was a grave mistake, hurting us today — Pragmatic Capitalism
The myth of
cash on the sidelines — James Bianco at The Big Picture
A flowchart of
Greece endgames — none appealing — BBC
The unexamined
crisis of 2008 — Economist’s View
Monetary moves
have lost their magic — Reuters Breakingviews
Jobs are not
really being held back by deficit uncertainty — The Atlantic
The real
failure at Netflix — Abnormal
Returns
Peak oil may
be beside the point — Economist
The Troy Davis
case shows how wrong eyewitness evidence can be — Slate
The Tiger Mom
goes to China — New Yorker
Overconfidence
may be an evolutionary advantage — Discover
Buy your own
private island in NYC for less than $300,000 — Curbed (via Felix Salmon)
Bank of
America’s layoffs pointless, “wouldn’t even pay the lawyers” — Huffington Post
Time to break
up Bank of America — The Atlantic
Why is the UK
still rated AAA? — FT Alphaville
New human
ancestor discovered — WSJ
The cost of a
crowded volatility trade — FT Alphaville
Workers’
malaise foreshadows wider social issues — Mohamed El-Erian at Reuters
No, we’re not
waiting for your official recession call, economist –Josh Brown in Forbes
Your guide to
living in 10 fictional worlds — Wired
Failing US
economy no reason to stop investing in print media, all experts agree — The Onion
Enough with
the monetary easing already — Pragmatic Capitalism
The US economy
is becoming more susceptible to hurricanes — Real Time Economics
How Irene
lived up to the hype – Five Thirty Eight
The War on
Terror is dead — The Atlantic
Emerging
markets now have more heft and reach than developed ones — Economist (video)
Why is the
White House defending banks from investigations? — Megan McArdle
Hurricane Irene may cause a gas-price spike — CNN/Money
Know the
difference between short-term and long-term problems for the economy — Ritholtz
Why aren’t
governments more afraid of a double-dip recession? — The Atlantic
France deserves
a downgrade at least as much as the US does — Bethany McLean in Slate
Recent market
volatility has historical precedent — Mark Hulbert
Stop worrying
about China not buying Treasurys, already — FT Alphaville
Fed hawks at
odds over their reasons for dissent — Reuters
Why Rick Perry
made a bid for the anti-Fed set – Slate
Maslow’s
hierarchy of needs gets an update — The Atlantic
How did so
many people feel one small quake in Virginia? – The Atlantic
Philly Fed
coincident indicators turning red — Calculated Risk
Treasurys are
priced for disaster — Capital Spectator
Profit
recession risks tick higher — FT Alphaville
The rich can
afford to pay more taxes — Bruce Bartlett in Economix
Everything
You Need to Know About the Latest Market Plunge [But were afraid to
ask] Minyanville Staff Aug 18, 2011 ‘After a rather benign start to the week,
markets plunged on Thursday with the S&P 500 shedding 4.5% and the
Nasdaq-100 falling nearly 5%. The main driver on the day was speculation
European banks remain insufficiently capitalized. Gold jumped nearly 25 to a
record high and Treasuries rallied. Among stock
movers, Apple (AAPL)
outperformed the indices but still dropped 3.7%, Microsoft (MSFT)
also outperformed closing down just 2.2%, Bank of America (BAC)
dropped 6% and Oracle (ORCL)
fell 8.3%.
Below are this week's top Minyanville stories examining the state of the US and
global markets.
Is It 2008 Again? Looking at the Summer Crash of 2011
A real bear market
has begun, and bonds got it right as early as February that the biggest threat
to the global economic system is deflation.
by Michael A. Gayed
Dynamics of This Market Panic Ripple Though History
The 10-year anniversary of the 1929 high ties to the beginning of World War II
on September 1st, 1939 when Hitler invaded Poland and France declared war on
Germany.
by Jeffrey Cooper
Are Gold and S&P 500 Behaving Logically or
Irrationally?
Unfortunately Mr. Market rarely embarks upon the logical until he has convinced
enough market participants to behave irrationally.
by J. W. Jones
Random Thoughts: Fed Dissention and Financial Market
Fatigue
The world's wildest reality show continues.
by Todd Harrison
Handicapping the Global
Economic Recovery
The obvious question must be begged: where do we go from here?
by Todd Harrison
Coming in October: Next Major Price Cycle Low
A major price cycle on the daily S&P 500 chart, which shows reliability in
bottoming about every 15.5 months, is due for its next low on or about October
31.
by Michael Paulenoff
Volume Trends Suggest Worst Is Not Over for Stocks
When the market rallies hard after a nasty decline, one of the first things
that can determine whether the rally's a keeper or not is volume. Here's why.
by Tim Thielen
The Sign of the Bear
When the quarterly turns down, the normal expectation is for the market to
carve out a low soon, in terms of time and price -- not to waterfall.
by Jeffrey Cooper
Economy Showing Signs of Life, but Not for Long
We're on the brink of a nice little bump from the data coming in, but on the
whole, a 1930s-style depression seems to be on track.
by MoneyShow.com
Wall of Worry Keeps Rising on Europe's Credit Crisis Fears
To make matters worse, politicians in the world's crisis-free countries are on
summer vacation.
by Lloyd Khaner
Why Is Everyone Bullish on the US?
Wall Street
will always think positively of the market, but the facts are pointing to a
bearish phase.
by Gary Kaltbaum
Five Things You Need to Know: Asymmetric Economy
Increasingly Untenable and Unstable
This situation cannot continue without adjustment.
by Kevin Depew
Fed's Easing Policy Means Worse Living Through Convexity
As the Fed removes interest rate risk through stealth QE3, it introduces other
risks, distorting incentives for investing
and weakening the economy in the long term.
by Professor Pinch
Are US Markets Facing the Abyss?
The vast majority of technicals are indicating a new bear leg.
by Jeffrey Cooper ‘
Dow
Tumbles on New Worries About Same Old Issues - Aaron Task
Who’s
Worse: U.S. Banks or Bernie Madoff? -
Stacy Curtin
WHY NEW
LOWS ARE LIKELY Simon Maierhofer, August
18, 2011 Last Sunday's (August
14) ETF Profit Strategy Newsletter update listed 5 reasons why new lows are
likely. Here they are:
HISTORIC REVERSAL
We've
been expecting a major market top in the S&P 500 (SNP: ^GSPC), Dow Jones
Industrials (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC). The April 3 ETF Profit
Strategy update identified the ideal target range for a major top to be 1,369 -
1,382. The chart below was featured in the same update.
It
outlines a top around 1,370 followed by an initial decline to about 1,230
(happened in June), followed by a rally (happened in July), followed by a steep
decline.
DEATH CROSS
The
death cross is one of the most talked about technical events, that's why I
don't put too much stock in it. However, there are two interesting facts about
previous death crosses.
The
2000 and 2007 death cross occurred about three days before the S&P embarked
on its next leg down. The 2010 death cross was actually a buy signal. However,
it occurred after the S&P and DJIA bounced off a multi-year trend line.
This time the trend line was broken so a more bearish interpretation of the
death cross is appropriate.
https://www.etfguide.com/images/PDNewsletter_Images/5%20-%20April%203%20TF.jpg
SEASONALITY
August,
September, and October is the most bearish stretch of the year. September and
October sport negative performance even in the pre-election year.
SENTIMENT
From
S&P 1,370 on May 2 to S&P 1,258 on June 16, the S&P shed 112 points
and sentiment measured by Investors Intelligence (II) and the American
Association for Individual Investors (AAII) turned deeply bearish (only 37% II
bulls). The June 16 ETF Profit Strategy update took that as a queue to buy
(long positions were closed at S&P 1,340).
From
S&P 1,353 on July 7 to S&P 1,102 on August 9 the S&P lost 251
points, yet the II sentiment poll registered the second most bullish reading
since the first week of May (47.3% II bulls). AAII and II polls are often
considered the 'dumb money.' If the 'dumb money' views last Wednesday's low as
a buying opportunity, the 'smart money' should be suspicious.
VIX PATTERN
If
you have the charting capabilities, take a moment and plot the VIX (Chicago
Options: ^VIX) against the S&P for the months of September - November 2008
and April - July 2010. If you don't have the time you may simply look at the
chart below.
https://www.etfguide.com/images/PDNewsletter_Images/yahoo%20-%20vix%20pattern.gif
What
we've seen in 2008 and 2010 is that a VIX peak did not coincide with the
S&P bottom. The S&P bottom actually occurred against a lower VIX
reading. If this pattern continues, we will see lower lows.
The
August 14 ETF Profit Strategy update includes a detailed analysis of the VIX
pattern.
THE SCRIPT
Via
more or less accidental chart surfing I found a striking resemblance between
the 2007 market top and the May 2011 top. This moved me to state in the
July 17 Profit Strategy update that:
'There
is a similar trend line and a triple top above the trend line. A break below
that trend line could be a precursor of bad things. Next week the trend line
will be at about 1,262.' The S&P sliced through that trend line on August 4
and fell an additional 12% within the next four days.
The
August 7 Profit Strategy update revisited that script and concluded this: 'We
now have a rough script; let's see how much lip the actors will add during the
live performance (I.e. S&P downgrade).
The
two main things I have taken away from the 2007 script are:
1)
There will be a new low.
2)
There will be a powerful counter trend rally to around 1,xxx (reserved for
subscribers).'
THE VERDICT
We
got the new low and we got a rather powerful rally. Now the question is, how
long will the low last and how high will stocks rally?
The
script suggests there will be another low. The VIX pattern suggests there
should be another price low. Seasonality suggests that there's some headwind on
the way up. Sentiment readings suggest we should be suspicious of any rally.
The death cross also suggests lower prices.
SUMMARY
There were a number of good reasons to expect new lows on
Sunday. Yesterday's ETF Profit Strategy update recommended to go short as soon
as the S&P breaks below 1,373. This happened within the first few minutes
of trading today. Now it's time to let the script play out…’
S&P
Triggers 200-day MA Death Cross - What Does this Mean? ETFguide.com
Is
This a New Bear Market? The Chart That Tells The Whole Story ETFguide.com
Why
The Worst May Be Yet To Come ETFguide.com
·
Homes Sales
Drop 3.5% in July – …
·
Jobless
Claims Rise 9,000 – …
·
Treasuries
Hitting Record Highs (record low yields) – …
·
Inflation at
the Consumer Level Rose to 0.5% in July – …
·
World GDP
Growth Slowdown - …’
Dow/Gold
Ratio Lowest Since 1987 Crash Forbes
Adrian Ash ‘Today’s gold
buyers might still get to look early birds as this depression wears on… GROWTH or defense…stocks or gold? Intra-day noise aside in summer 2011,
Mr.Market’s choice looks plain.
The Dow/Gold
Ratio – a measure of the U.S. stock market’s valuation in ounces of gold – has
sunk as equities have plunged but gold prices have jumped
so far this summer.
Dropping
through 6.0 ahead of Friday’s New York opening, the Dow/Gold Ratio hasn’t been
this low since early 1989, back when world equity markets were recovering from
the Great Crash of Black Monday 1987.
http://goldnews.bullionvault.com/files/DowGoldviii11.png
That slump
itself had taken the Dow/Gold Ratio all the way down to 3.6, with gold prices
rising to nearly $500 per ounce as the Wall Street index sank to 1776 points.
Growth, of course, was only taking a pause in late 1987 – a quick breather
before the real race to perfection of the late 1990s. Today, in contrast, the
Dow/Gold Ratio could still go a lot further down. Or so says history.
Trading a
little over its century-long average of 10.0 today, the ratio bottomed during
the 1930s Great Depression at just below 2.0 ounces of gold for one Dow unit.
At the nadir of the next global depression – the inflationary depression of the
early 1980s – the Dow/Gold Ratio sank even lower, down to 1.0.
Whatever
flavor of depression we’ve got at the start of this decade – and it is a depression, as Western jobs data continue to show
and as the Dow/Gold yardstick will confirm if it goes much lower (keep an eye
on the underperformance of gold mining equities, too) – a growing flow of
private savings is choosing defense in gold bullion rather
than choosing business-risk in listed stocks.
That choice
might sound self-fulfilling if you work in psychiatry or government, a kind of
“clinical disorder” open to curing with medication, zero interest rates or
perhaps a third round of quantitative easing – most likely aimed at risk
assets, we guess, rather than the “risk free” Treasury bonds targeted by QE1
and QE2 – and which institutional investors are all-too keen to hold anyway.
So far,
however, investors choosing to buy gold only account for a
tiny portion of the money fleeing equities.
From here to a
true depression low in Dow/Gold (if such a level is reached), today’s gold
buyers will need to find many more friends. They’d also look early-birds
compared with the rush out of stocks – and into gold – needed to reach that 2.0
or 1.0 mark.’
The Great Stocks
Vs. Gold Round Trip Aug 19th, 2011 News (BusinessInsider) — ‘ When priced
in gold stocks have now returned to where they were at the market’s low-point,
back in 2009. Actually, we’re even worse now.
http://www.usagold.com/pete/newsviews/20110819GoldSPratio.jpg PG View: In 1965 De Gaulle called for a
return to an “indisputable monetary base,” one that “does not bear the mark of
any particular country.” He of course was referring to gold. As was pointed out
in a Forbes
article early in the week on the 40th anniversary of President Nixon
closing the gold window, “over the last four thousand years, the only period in which
humanity has not consistently based its currency in metal, specifically gold,
is the last forty.” And look what that has wrought…’
Ignore
Buffett's Advice, Don't Buy Stocks at
Forbes Bert Dohmen [ Yeah … this is
really good advice. As a shill for fraudulent wall street, they may have given
him some ‘stellar performances and cash to boot’; but, the homespun bumpkin
senile buffet’s analytical abilities, if ever really extant, have certainly
passed the point of no return. You may recall how the clintons, with a mere
$1,000 or so, were revealed as ‘commodities trading wizards’, but as written up
in the Wall Street Journal ‘someone was giving them money’. In fairness, that
they were singled out (was) is a bit arbitrary inasmuch as that’s going on all
the time on wall street, and now with greater precision owing to greater
computer programming capabilities, to everyone else’s detriment. Remember, in a
manner of speaking, there are two sides to every trade, viz., winner and loser
(in relative terms).] ‘The markets plunged going into August 8. On
that day, the DJI closed with a loss of 629 points. My indicators signaled that
a brief bounce would commence the next day. According to the charts, the first
target for the S&P 500 was 1205. The target was hit exactly a few days
later. That was followed by a renewed plunge.
I have been
looking for a serious crisis to start in September. It appears that we have
seen the prelude for that. The big smart money has been preparing for the past
five months.You can see the “distribution pattern” on the charts since
mid-February. The rush to the exits is now accelerating and the smart money has
been selling short in large amounts.
The extreme
bullish sentiment that prevailed until the latest plunge was first replaced by
complacency, then by concern. However, the “fear” stage is still missing,
except at hedge funds that were forced to sell because of margin calls. In
fact, during the severe plunge in the first week of August, investment
investors became even more bullish according to Investorsintelligence.com. That
is not good for the markets.
The market
negatives are increasing in numbers. The IPO window is now shut. There are
signs that credit is once again vanishing. Loans are being called in, some
companies appear to have difficulties rolling over their Commercial Paper, junk
bonds yields are soaring, European banks may stop lending to each other, and
the European crisis is spreading out across the globe. It’s my view that this
will cause another credit crisis, just as in 2008.
What’s worse
is that contrary to 2008, the big players learned to read the signs from their
2008 mistakes. They are now wide awake, although in the media, their minions
still repeat the same bullish fairy tale. This means that this crisis could
develop much faster than the last one. (Read my book, Financial
Apocalypse, which is the
2008 roadmap, one which can be used very well for what is now happening.)
The words
“possible recession” suddenly is being mentioned a lot in the media, although
economists still strongly deny that possibility. Our rule is that the stronger
their denials, the more certain and the deeper the recession will be. In fact,
I declared in our May 9 issue of the Wellington Letter that the recession had
started.
Morgan Stanley
lowered its global GDP growth forecasts for 2012 from 4.5% to 3.8%. My forecast
is for 1%-2% or less. It would be negative growth except for the fudged
inflation numbers.
The European
politicians are not any smarter than those in the U.S. Merkel and Sarkozy had a
meeting in Paris and did nothing. That day I called the outcome “Disastrous”
for the markets. It took the markets a day to digest the consequences and then
the selling avalanche started. Many of the markets in Europe, led by the banks
stocks, went into virtual free falls, losing from 4%-7% in one day. Such losses
indicate an approaching crisis.
Now we see
some of the well-known Wall Street figures appearing in the media, telling
investors all the reasons why stocks are a good buy. One appeared with a long
list of bullish factors. Well, that list didn’t prevent the global stock market
from losing an incredible $6 trillion over the past several weeks. He did the
same cheerleading on national TV in 2007 before investors lost 50% of their
wealth.
Warren Buffett
is also once again the cheerleader saying he is buying stocks. He did that in
2007-2008 as well, and then the meltdown started later in 2008.
I would not
fall for this self-serving advice. Words cannot rescind a recession that we
already have, it cannot stop the insolvency of entire countries in Europe, it
can’t change the fact that major profit downgrades will appear soon, and it
can’t stop the China crisis that is now starting.
Gold is
soaring, but the mining stocks look terribly weak. There is great danger now
with the gold stocks getting hit hard by less developed countries, including
South Africa, to nationalize gold mines. This is too lucrative for them to
resist.
I would get
out of all money market funds unless they are “U.S. government only.” The
MMFs have big exposure to European banks. We believe that lending between banks
in Europe may seize, which means that the whole structure will start shaking.
You will start hearing the word “contagion.”
In my opinion,
the danger period is approaching. What we have seen until now is just a
“preview.” The main feature is likely to be worse.
Bert Dohmen is
editor of Bert Dohmen’s
Wellington Letter and author of Prelude To Meltdown (2007) and Financial Apocalypse (2011).’
The
"Crimes" That Wrecked The Markets Forbes / Robert
Lenzner ‘CNN’s anchor in London, Richard Quest, raised the issue squarely today
about trying to explain the “crimes” that have created this failure to recover
from the 2008 recession and the fear of another downturn in the economy
that could wipe out many of the gains we have achieved. Quest, of course, did
not mean felonies or violations of the law that would land people in prison. I
think he meant crimes of bad policy, crimes of financial illiteracy, crimes of
stupidity, crimes of poor leadership.
So, here’s my
attempt to sum up my answer to Quest.
The
powers-that-be saved the Masters of the Universe on Wall Street by using
trillions of loans, investments and guarantees that sent the signal that
Finance was the nation’s Number One Priority. This historic gift to
finance meant that the growing disparity between the super-rich and the middle
class would continue to widen, without anyone of our top policy gurus
suggesting it was splitting our nation. Some academics even worry about the
“crime” of pushing the middle class into poverty.
Nevertheless,
there was no bold strategy left to help those out of work. It was a “crime”
that the stimulus program did nothing to create any jobs in the private sector.
Obama’s economic adviser in 2009 , Larry Summers, was dead set against a
make-work program to put the nation’s skilled construction workers busy on
repairing the rusting infrastructure he finds distasteful at airports and
railroad stations. Now, we are going to be given the sop of an infrastructure bank
that couldn’t possibly be in place for years, if ever.
No question
the handling of the debt limit debacle was “crime” of poor
planning, no overall shred strategy and trying to effect a master plan for
$4 trillion cuts with only days to go before the August 2nd deadline.
Keystone Cops, whatever you wish to call it caused a loss of confidence
in the nation’s politicians; a kind of virtual “crime” on the public who
deserved better. Much better. This entire episode removed the foundations to
rational expectations for the stock market– and threw the nation into a
madhouse of volatility and confusion.
I don’t know
what to call the lapse in the markets faith in paper money– and the
more-or-less steady rise in the price of gold from $850 an ounce 3 years ago to
well over $1800 today. There is no other stock, bond or commodity you
could have purchased that had this magnificent performance. Well, maybe the
shares of Apple, and some global commodity producers.
Moreover, it
was a “crime” to do nothing about the obscene bonuses taken by the Masters of
the Universe– who only were able to pay themselves in this way because of the
federal bailout. No one has tried to get back the fortunes taken away by
Lehman’s Richard Fuld, Countrywide Credit’s Angelo Mozillo–or either of
the Merrill Lynch CEOs, who helped destroy their iconic firm. Now there’s a
“crime.”
Then, there’s
the SEC’s unwillingness to reinstitute the uptick on short sales of
stock– so that hedge funds and other speculators could not trigger sharp
sell-offs in the stock market If you had this “uptick” rule back, every short
seller would have to wait for a transaction at a higher price to sell
short– rather than the libertarian “crime” that allows them to pound a stock
lower to make sure-thing profits. It’s a crime short sellers are able to shoot
ducks in a barrel. Shocking lack of fairness. No wonder Aunt Sadie is fleeing.
No doubt there
were “crimes” committed in the week of volatility, with gyrations that scared
the public. These movements up and down were caused by the high frequency
trading by computers owned by hedge funds– who are not investors– but
in-and-out traders several times a day and who have no regard for fundamental
values. These Masters Of The Universe have the ultimate power in American
society because of their political contributions and lobbying.
I believe
Obama’s health plan to be a “crime” because it was a sellout to the 5 giant
health insurance firms that were given 4 years clear and free to raise their
premiums without interference. It was a “crime” because Obama was told by
leading Senators it was a terrible sellout of the citizenry.
I don’t know
what to call the bankruptcy of fiscal and monetary policy. In some
existential sense it is a “crime” that we have run out of fiscal and
monetary ammunition to turn this collapsing shock treatment around. It is
a “crime that 300 million people will be looking for Ben Bernanke, Fed
Chairman, to pull a rabbit out of a hat in Jackson, Wyoming next week, when
central bankers are meeting. QE2 came from last year’s meeting– but it
created no jobs.
The same will
be true after Labor Day when the much-ballyhooed Obama speech on jobs is
coming. I fear expectations are going to be terribly disappointed. Expect
rhetoric as in “We have always been a Triple A nation– and we always will be
Triple A. ” That was a “ crime” of speaking mush, when 300 million people know
better, and wanted to hear something meaningful. Not to have bold, kick-ass
leadership at a time of crisis is a sad sort of a “crime.” ‘
Accounting
Gimmics Resurface as Growth Flounders at
TheStreet ‘-- Accounting gimmicks -- once the staple of the
boom-boom stock market -- are on the rise as companies attempt to convince
analysts and investors that they are profitable despite a sluggish economy,
according to industry watchers. Accounting
techniques of Groupon and Zynga were under the spotlight recently, with the
Securities and Exchange Commission instructing both companies to adhere to more
stricter and conventional accounting standards, causing them to amend their IPO
offer documents.
The creative metrics in the IPO documents of recent
social-media IPOs are reminiscent of the dot-com bubble when stocks were valued on metrics like
"eyeballs", while fundamentals like revenues and profits were
ignored.
Rebekah Smith, director of financial advisory services at
accounting and consulting firm GBQ consulting, says accounting tricks and
schemes are likely to start unraveling as we head into 2012 and the lag effect
catches up. "The typical accounting fraud goes on for about 18 to 26
months before it is uncovered. The frauds that took place in 2009 are not going
to surface until later in 2011 or into 2012."
Financial statement fraud like the kind that took
place at Enron are rare. The Association of Certified Fraud Examiners estimates
that such manipulation accounts for only 4.8% of total fraud cases, although it
causes the most financial damage, with the median loss being more than $4
million.
But accounting gimmicks that focus on non-GAAP
(Generally Accepted Accounting Principles) measures are rampant and they can be
misleading.
Groupon, for instance,
claimed that the marketing expenses incurred to acquire customers were
"one-time investments" and hence they should be excluded from the
calculations of operating income.
By that metric the company made an operating profit
at $81.6 million in the first quarter of 2011, as opposed to an operating loss
of $113.9 million under traditional accounting standards.
However, analysts were quick to point out the metric
was absurd. "If you are going to capitalize acquisition costs, the onus is
on you to show proof that acquired customers stay as customers (and actually
buy products for many years)," Aswath Damodaran, Professor of Finance at
Stern School of Business and a reputed author of textbooks on valuation, wrote
in a blog post.
"With strong competition from other online
coupon based companies (like LivingSocial), it is entirely possible that
customers once acquired, are fickle and move on... If that is the case, the
acquisition cost has a very short amortizable life and begins to look more like
an operating expense," he wrote.
Zynga issued a restatement of its second quarter
results saying it did not hew to accounting standards in the way it estimates
how long people play its video games. That had the effect of understating
revenues during the second quarter. While the impact of the Zynga's restatement
itself was not substantial, it highlighted the murky accounting involved when
it comes to new business models.
"There is a new market of publicly traded companies with business
models that open more room for interpretation on how revenues and costs should
be treated. We do see some aggressive accounting techniques" says Dan
Mahoney, director of research at the Center for Financial Research and
Analysis, a unit of MSCI that specializes in forensic accounting.
Smith of GBQ
Consulting says there is a greater risk of financial statement manipulation at
such new-age businesses. "We have a lot of new business models and people
are still trying to understand how the finances of these companies work,"
she said. "Companies get to decide what to tell them[investors] on how
their industry works. They decide what the metrics should be."
While in a
traditional sector an astute analyst might call a company's bluff, it is harder
when you don't have history as a guide. "We don't have a typical 10-year
history. As a financial professional, you can't make a conclusion on what the
financial metrics should look like," says Smith.
Mahoney at
CFRA says companies with high valuations are also ripe for these sort of
gimmicks, as they are under pressure to sustain valuations.
While in a
traditional sector an astute analyst
might call a company's bluff, it is harder when you don't have history as a
guide. "We don't have a typical 10-year history. As a financial
professional, you can't make a conclusion on what the financial metrics should
look like," says Smith.
Netflix(NFLX) has been
criticized in the past for its calculation of subscriber churn rate, which
looks at the number of cancellations as a proportion of subscribers. Netflix's
method has the effect of overstating the subscriber base, thus making the churn
rate seem lower.
Analysts have
over time learned to adjust for this inconsistency. And as it turns out, the
movie rental firm has drastically
limited the metrics it is willing to provide , saying that in 2012 it will
no longer report churn, gross subscriber additions and subscriber acquisition
costs.
Problem
solved.
Stern's
Damodaran says companies resort to these tricks because the market analysts
simplistically assign multiples to a profit metric. All companies have to do is
"make a change that affects earnings and you can change the
valuation," he says. "Investors need to understand what Groupon's
business model is, what their potential market is, who are they going up
against."
--Written by
Shanthi Bharatwaj in New York
>To contact
the writer of this article, click here: Shanthi
Bharatwaj. ‘
Morgan
Stanley Biggest Welfare Recipient as Federal Reserve Lent Banks $1.2 Trillion
During Financial CrisisWall St. Cheat
Sheet
Dow:Gold
Ratio and the Secular Bear Market at
Minyanville Toby Connor Aug
23, 2011 ‘However low the risk, large potential trades are now in the stock
market, not in playing chicken with the gold parabola.
As I have been warning investors
for many months, stocks have now entered stage III of the secular bear market.
Gold, on the other hand, is now in the final parabolic phase of a 2.5 year C
wave advance.
My best guess was that we would see a Dow:Gold ratio of between 5-6 before this
C-wave ended. The ratio was at 5.71 as of today. I think we may still have a
little further to go on the downside for stocks
and a little further upside in gold. So it's entirely possible that we could
see a Dow gold ratio of 1:5 before the trends reverse.
http://image.minyanville.com/assets/FCK_Jan2011/File/August11/tobyc8231.JPG
Click to enlarge
However low the risk, large potential trades are now in the stock
market, not in playing chicken with the gold parabola.
Cyclically the stock market is now in the middle of the timing band for an
intermediate bottom. Presumably a sharp bear market rally in stocks will
trigger a regression to the mean, profit-taking event in the precious metals
market (the D-wave).
D-waves almost always test, and sometimes marginally penetrate, the 200-day moving
average. I've illustrated in the chart above a rough guess as
to where I expect the countertrend rally in stocks and the D-wave correction in
gold to retrace.
Keep in mind that the fundamentals for gold have not changed. A D-wave is
simply a profit-taking event triggered by an unsustainable parabolic rally. It
has nothing to do with fundamentals. Once the D-wave has run its course, gold
will enter a sharp snapback rally (the A-wave), after which it should
consolidate for the remainder of the bear market in stocks.
Stocks, on the other hand, after what should be a very convincing bear market
rally, will roll over and continue down into a final four-year cycle low,
probably in the late summer or early fall of 2012.
Depending on whether or not the Fed tries to fight the cleansing process, or
Ben Bernanke tries to stop the bear market with another round of quantitative
easing, stocks should either test or breach the March '09 lows.
Either way I expect that 2012 will go down as one of the worst years in human
history. Certainly in the same category as 1932, if not worse …’
Is the
Market Forecasting War? {
Kind of a ‘large dart board’ in terms of ‘educated guessing’ in light of the
perma-war ‘bent’ of these perma-war ‘bent’ nations; viz., ie., u.s., israel,
europe, etc.. } [ If so, and if this
writer’s correct, all nato’s and america’s misguided actions in the Mideast
will be viewed as an attempt to weaken Arab nations for the benefit of
war-mongering israel and will never be forgotten as such, to the substantial
detriment of the dying so-called western alliance. ]
End Of
Cycle Smelling Like Dow 3K, Gold 3K Forbes
/ Bill Bonner
‘ Listen up, dear reader
herein we announce an historic Daily Reckoning forecast. Here’s your north
star, your compass, your GPS to the future. Print it out. Paste it to your
refrigerator:
About
the turn of the century, two markets turned Gold turned up Stocks turned down
These major trends will end Whence they meet
Our
view is that the bear market began in January 2000. The feds fought it off with
two huge extravaganzas of spending — the first beginning in 2001 the other
after 2008.
Stimulus
does wonders for stock prices but it no longer works for the economy that
sustains them. For every dollar that the Fed has put to work to fight the
crisis since 2008, for example, it has produced only 80 cents worth of GDP. It
didn’t work.
Fighting
a credit contraction with more credit is a losing proposition. Eventually,
investors are bound to realize that stocks are headed down. Eventually the bear
market will resume. And eventually it will come to an end.
But
when? Our guess is that it will end when the Dow and the price of gold arrive
at the same point — probably around $3,000. Whatever the number, you’ll be able
to buy the entire group of Dow stocks for the price of one ounce of gold.
Of
course, our view is a minority one. Warren Buffett doesn’t buy it. Most investors
don’t buy it. We don’t even suggest that you buy it, dear reader. Just remember
it. If it turns out as expected, we want to be able to say ‘We told you so.’
And
if it doesn’t work out? Please have the grace to forget we mentioned it.
We
would like to be able to predict the future, but we’ve never gotten the hang of
it. We’re just guessing.
But
since we’re just guessing, we don’t see why we should hold back.
We’re
also guessing that…
…the
weight of so much debt is depressing growth…and will soon depress stock prices
too…
…that
the economy is becoming zombified from too much government money…especially the
military…
…that
Mr. Market is ready for a long bear market anyhow; he’s tanned, rested, and
ready to go to work
…that
the US is following in Japan’s footsteps…towards a long period of on-again,
off-again recession
…that
the recession of ’08-’09 in the US never actually ended…
…and
that stocks will go down over the next 5-10 years until they finally hit a real
bottom.
Our
guess is that gold goes down, shakes out the speculators and weak investors and
then, perhaps a couple years from now, perhaps longer — begins its third and
final phase.’
Back-to-School
Sales Looking Blahat The Wall Street
Journal
How much
higher can Apple shares go without Jobs? (Reuters) [ Or the market
without jobs? … The answer euphemistally is not much … but more accurately
should be not all and down quite a bit! ]
Arguments
for Being in the Crash Camp Conor Sen Aug 29, 2011 ‘If you want to take risk, only
own things you're willing to own in a down 20-30% tape, because that's what we
could see over the next month. ‘This
piece is going to read a bit like an inner monologue in the hopes that seeing
how I wrestle with conflicting ideas may help with your own thought process.
One of the responsibilities of putting your thoughts online for public
consumption is only writing when you think you have something worth reading.
After awhile you accumulate a portfolio of pieces and can see common themes
in your writing, the struggles you've had, and whether you've been on the mark
or not. And this summer I've written primarily about three topics: 1) the 2011
consumer tech IPO names led by Groupon, LinkedIn, and Zillow, which I've done a reasonable job with, 2) pessimism about the debt ceiling deal being resolved early
due to the intransigence of the 2011 GOP, which I also feel I analyzed well,
and 3) the ongoing macro tug-of-war between compelling valuations and the
escalating European debt crisis, which I've gotten wrong.
The closest I got was in a June 24 piece where I wrote,
"My
experience in 2007-08 taught me that in credit contagions understanding these
dynamics is all that matters. Charts don't matter, macro data doesn't really
matter, and until the contagion stops valuation doesn't really matter either. A
$1 bill could trade for 70 cents if firms need to raise capital."
That's what I fought earlier this month, convinced that valuations for some
blue-chip firms and not-as-bad-as-people-think macro data
would be good enough. It hasn't been. The problem is, I thought about the issue
too narrowly, focusing only on European sovereign spreads without seeing the
second-order effects those spreads would eventually have. As sovereign spreads
for the European periphery widened, governments responded by imposing austerity
measures, which have now flowed through to the point where Europe may be back
in recession. Here's one measure of the trend in economic activity for the key
European countries.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/plummet1.jpg
With sovereign spreads stressed and economic activity rolling over, European
banks have been under pressure, both the equity and of course the credits, with
credit default swaps for European banks at wider levels than they were in
2008-09.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/plummet2.jpg
The problem with this is that credit
spreads and equity prices are intricately linked, as this
chart from Goldman Sachs shows comparing the spreads of the key iTraxx Main CDS
index with the STOXX 600 index, Europe's equivalent to the S&P 500.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/plummet3.jpg
And in a leveraged, interconnected world, a systemic problem somewhere flows
everywhere else, as investment-grade and high-yield credit indices in the US
show.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/plummet4.jpg
The key question I've asked this week is: Can European banks, or Bank of
America, fund themselves right now? The answer is no. That's a problem. If
economic data were getting better, even on a green shoots basis, that might be
one thing, but just about every data point we've gotten out of Europe recently,
or Philly Fed here in the US, has been negative on a second derivative, and in
many cases, a first derivative basis.
If we knew that fiscal and monetary policymakers were ready to fire bazookas
and gas up their helicopters, that'd be a different story. In 2008-09 we got a
big fiscal stimulus package out of China and a lesser but still sizable one in
the US. Today we have both the US and Europe looking to cut spending, not
increase it. On the monetary policy front, the ECB actually raised rates this
summer, and Ben Bernanke's speech at Jackson Hole on Friday shows that either
he doesn't think additional stimulus is needed, that it won't help, or that
there's too much political risk
to take bold action, precisely the problem he said hampered the Japanese in his
famous 2002 speech on deflation.
Most worrisome of all might have been comments out of German Chancellor Angela Merkel last weekend,
when she said, “Politicians can’t and won’t simply run after the markets. The
markets want to force us to do certain things. That we won’t do. Politicians
have to make sure that we’re unassailable, that we can make policy for the
people.”
This is after a 25% drop in the DAX, and the leader of the country that holds
all the cards in Europe says that she won't be bullied by markets. The
Bernanke/Merkel/Trichet put may exist, but its strike price appears to be a lot
lower than many thought.
When nearly every major bank in Europe has a credit spread north of 300bps or
is headed there in a hurry, I'm not going to make the argument that so-so US
economic data, solid earnings,
and attractive valuations will win out in the short term. Markets are cruel and
merciless when it comes to leveraged institutions under financial stress. In
2008-09 to combat this we got TARP, the AIG (AIG)
bailout, the stimulus package, the Temporary Liquidity Guarantee Program
(TLGP), a whole host of other short-term funding
programs from the Fed, and finally in March of 2009 we got green shoots, second
derivative improvements in the economy. Today we have, "Most of the
economic policies that support robust economic growth in the long run are
outside the province of the central bank." If the SPX went to 700-800 we
would see multi-generational bargains for a whole host of names, many of which
would trade at around cash value plus a 2-3 multiple on earnings. But
structurally, there's no reason why it can't happen. If you want to take risk
here, only own things you're willing to own in a down 20-30% tape, because
that's what we could see over the next month.’
Stocks
Woosh Higher in Vacuum, Now Perfectly Poised for Disappointment at The Wall Street Journal
What
to Expect Next From the Markets at
Minyanville Jeffrey Cooper
Aug 29, 2011 ‘Conclusion: It looks
like a program was run using the least amount of dollars to goose the indices
by focusing on some big cap names like Apple (AAPL),
Amazon (AMZN),
Baidu (BIDU), IBM
(IBM),
and Caterpillar (CAT) on Friday.
That is why the market is so dangerous here ‘
‘From a technical perspective, the markets are looking dangerous
right now. On Friday, a big buy program was run for Ben Bernanke’s speech after
running the stops and getting traders short.
The S&P buckled after breaking the 1154 mid-point of the recent range,
running the stops and trapping shorts for good measure on a Pinocchio of the
key 1140 support, as
offered in the last report.
However a first hour low was scored in a mirror image of recent first hour
highs and I sent an
alert to cover shorts. Combined with Bernanke’s speech, the flip was
switched to save a poor weekly close when the S&P recaptured 1154.
A 10 minute chart of the SPY shows a downside ORB (a break of the opening range
defined by the first 30 minutes) to flush the stops, and then an ORB Reversal
back through the level of the downside pivot, followed by a powerful Reverse
ORB on a thrust back through the top of the opening range implying a trend day
to the upside.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/29/ARCX_SPY_10%20--%20SPDR%20S&P%20500%20TRUST.jpg
The promise of the Catapult ORB -- first to the downside then back to the
upside -- was further fulfilled on penetrating topside lateral resistance above
117 SPY.
In so doing, the notion of a Fed Cha Cha Cha was turned into more of a
jitterbug for the shorts to run for cover.
The ensuing extension by the SPY led to a retracement back to the low of
Thursday’s high bar.
Thursday gave a first hour high while Friday gave a first hour low as the
robots play ping pong with tape.
One might fairly call Friday the “case of the missing ‘cha’".
Typically following Fedspeak, there is a sequence of 3 moves in opposite
directions with the third move being the genuine bias.
In Thursday morning’s report I suggested that the direction
following the first hour on that day should be the bias into the
weekend. There was a change of character in the dynamics which the Reverse ORB
did a good job of identifying.
There is another short term change in character implying a continuation on
Monday morning (whether that will define a first hour high again near the
important 1180ish resistance remains to be seen).
That short term change in character is set up by Friday’s Reversal of a
Reversal, or what I call a ‘Kaiser Soze’.
Why? The important Three Day Chart Turned down on Monday as the S&P traced
out 3 consecutive lower daily lows. In addition, Monday saw the Weekly Swing
Chart turn down.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/29/SPXweeklyJulyb.jpg
Click to enlarge
The fact that the turndown was marginal and defined a low immediately in terms
of both time and price was a bullish indication of a short term test and a
potential short term “W” bottom on the daily charts.
The takeaway was a multi-day rally which played out, finally satisfying a kiss
of the overhead 20 day moving
average which the S&P failed to accomplish on the first
rally off the lows.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/29/INDEX_$SPX_D%20--%20S&P%20500%20INDEX%20%7BDelay20%7D.jpg
The tag of the 20 dma, which played out on Thursday, was the first test of that
trendline since the Cascade
Setup began in July.
A pullback to the 20 dma is referred to by many traders as the Holy Grail for
its effectiveness in defining a reversal point -- especially the first time.
Like clockwork, the S&P was rejected by the 20 dma on Thursday in concert
with a turnup of the Three Day Chart. This defined another high, setting up a
continuation trade for Friday to the downside.
However, a funny thing happened when the bears pressed the case of the “yes we
have no QE3 Bananas for you” speech at the Jackson Hole forum -- the S&P
left a Reversal of a Reversal, stopping right at the 20 day moving average and
flirting with an extension above it this morning. This would coincide with a
breakout over a trendline from late July.
Not all breakouts are created equal, as we saw with the breakout to a new high
in May this year and also on the short-lived trendline breakout into the
important July 7th pivot high.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/29/SPXdailyAprilb.jpg
Click to enlarge
My rule of thumb is that breakouts and upspikes in persistent bear phases are
made for the selling. However, as the weekly chart of the S&P shows, the
index will turn its weekly chart back up on trade over last week's high of
1190.68 (Thursday’s first hour high).
The normal expectation is that this would set up another high, but because of
the pattern of the W bottom, the constructive behavior on last week's turndown
of the Weekly Swing Chart, and because the S&P is poised to pop over its 20
dma this morning which coincides with a breakout over a declining trendline,
there is a likelihood that the bears will keep their claws in their pockets and
the bulls may snort a little. While I would give the market its due on the
upside if the action is constructive following the turn up of the weekly chart
-- which the futes suggest will occur near the open -- I am not too interested
in being long more than a few hours and overnight.
Be that as it may, a further change in short term behavior and constructive
action following a turn up of the Weekly Swing Chart suggests a move to/over
1208, the recent swing high.
At
the same time the the 55-day panic point from the July 7th pivot window does
not close until August 31st, so this is tricky here. However, the market is not
a fine Swiss watch and when it comes to these cycles one must allow for plus or
minus a few days. I think we should key off the behavior following a turnup in
the weekly chart and the action following the first hour. If the trend is still
in runaway down mode, another high could be defined quickly. I would exercise
some patience here and let the market speak.
The cycles suggest another short-term plunge into September 3rd and then a
bigger rally to 1220 or higher into/around the end of the first week of
September to September 11th. It then suggests another plunge that undercuts the
1100 low to possibly as low as 1018ish. If a flush of the lows plays out under
1100, it could mirror the pattern from 1937 or 1938. In other words it could be
a fractal of the first waterfall decline with a marginal undercut, or we could
see a deep flush of the lows.
The takeaway is that not all W bottoms are created equal. Often a W V pattern
plays out. This is the pattern that played out from the triangle/consolidation
in late 2008 to the “V” in March ’09.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/29/DJ-30%201937%20-%201938%20final%202.jpg
While the institutional bulls are caught long on the trap door setup from
August, a little strategy is required: above 1180 and then 1200 could see the
S&P test 1220ish. This marks the double tops from April/November 2010. When
the market knifed though those prior highs, which should have been ultimate
support if the trend was still healthy, the Head & Shoulders Top projection
to 1150 at a minimum became irrefutable. Those prior peaks near 1220, now
broken, should offer substantial resistance. However, with many funds trapped
short and everyone looking for a test of the neckline near 1250/1260 and a test
of the 200 day moving
average as it turns down, reconfirming the sign of the bear,
it’s anybody’s guess if the sellers let it get back there -- at least in
September. Perhaps a test of the 200 day plays out after a ‘W V’ and a flush of
the lows, leading to a big “Bankers Rally”/Christmas rally to rescue bonuses,
like in 2007.
Conclusion: It looks like a program was run using the least amount of dollars
to goose the indices by focusing on some big cap names like Apple (AAPL),
Amazon (AMZN),
Baidu (BIDU), IBM
(IBM),
and Caterpillar (CAT) on Friday.
That is why the market is so dangerous here -- because despite big gains in these
names when a big fund turns around to liquidate, they find few substantial bids
on the way back down and these same stocks
can be down 4 and 5 points again with another 400 point DJIA down day. When
exactly that next break comes is anybody’s guess, but cycles suggest it is
sooner rather than later. I would be patient about being too long for more than
a few hours to a day or two for the time being. With everyone looking for the
Big Backtest of the 200 dma, it is also anybody’s guess as to when that arrives
-- from here or following a flush out of the lows. With everyone eyeing
perceived targets of S&P 1220 to 1250, will the market just burn out here
with everybody waiting and with an undercut of the lows having to play out
before a better rally into year end? It is interesting that the war cycle from
1990 -- when Iraq's invasion of Kuwait on August 2nd precipitated a market
waterfall -- that there was a July pivot high as there was this year.
In 1990 there was no low until October. August 2, 1990 was 252 months ago,
tying to the big September 3rd historic cycle (which includes the 1929 all time
high). In addition we have the 120 month anniversary of 9/11 and that Spike
& Reversal pattern coming up, so I think a lot of volatility remains in
store and patience and discipline will be critical no matter how good a short
term change in character appears.
Strategy: I would look to scalp long above 1170 and scalp short below 1160.
Monday may hold up, but it will be interesting to see if we reach the high for
the week today -- in bear phases the first hour of the session often times
scores the high for the day. If Tuesday is a reversal day, I suspect the market
will trend down into the Labor Day weekend. If the market rallies up into the
weekend it should define another ledge and jumping off point.
Gold broke according to expectations early last week from just above 1900. Another
short sets up in the 1820 zone if it hasn’t already topped with a turnup of the
daily charts on Friday. Ditto iShares Silver Trust (SLV). The next
break should target 1660 and below that 1590.’
Obama's
Legacy: A Failed Recovery & Double-Dip Recession Forbes / Mariotti ‘There will be no significant
recovery in the United States of America while Barack Obama is President.
The evidence is overwhelming: everything Obama has tried to fuel a
recovery (with his Democratic allies in Congress) has failed. Statistics
claiming jobs saved by the stimulus package were mostly fiction, and cost
American taxpayers about $275,000 each. Nearly 2-1/2 million fewer
Americans have jobs than before the stimulus.
Barack Obama has been President for 30
months—2-1/2 years. He spent the first year obsessed with passing Obamacare, a
program that doesn’t create jobs, but might destroy a lot of them. He
“bailed out” GM, but many believe that his interference didn’t save GM; it
merely cost taxpayers an extra $15-20 billion, and stole from legitimate
investors to buy off the UAW. His broken campaign promises are too
numerous to list. At some point, his statute of limitations on blaming
Bush runs out. The latest joke is that the White House is that
named the location of East Coast earthquake near DC “Bush’s Fault.”
Obama himself said, “…that after three years, if the economy
wasn’t fixed he should be a one-term president.”
Clearly the economic malaise started on
George W. Bush’s watch. Its causes will be argued for decades, but most
of them are traceable to irresponsible lending and excessive spending— both by
government and the American people. The trouble that started before 2008
is directly traceable to actions (or inactions) of Bush and GOP allies in
Congress. They spent America into the start of the current deficit during
his eight years in the White House.
But that was then, and this is now. Since Obama took office the
situation has gotten much, much worse. Obama has run up the
deficit at more than twice the rate Bush did.
During the first quarter of 2011, the US economy “barely grew” —at 0.4%—that
was followed by second quarter’s “anemic growth” of 1%. This was during
the period when the Obama recovery was supposed to be well underway.
Employment data is unremittingly terrible: new jobless claims are stuck at
400,000+/- each month, with job creation well below what it takes just to
absorb new workforce entrants. More Americans have been unemployed longer
than ever in our history. And looking ahead, the news is not good.
This is Obama’s failed American recovery, and in the near
future, Obama’s impending double-dip recession (thanks
in no small part to his three consecutive years with Trillion-dollar in
deficits that have inflated the national deficit to soaring heights—$14+
Trillion.) That legacy clearly belongs
to President Barack Obama and with help from the Congress led by Harry Reid and
Nancy Pelosi during 2008-2010. Thanks to them, our country hasn’t
even had a budget since Obama took office.
The latest Obama Blame Finger pointing
focuses on the “Tea Party” as “extremists” who have a problem with astronomical
deficits as far as the eye can see. (Pointing at Bush is getting a little
old since he’s been out of office for 2-1/2 years). Obama needs a new
scapegoat. The problem with the Tea Party is that it is like the child in
the fairy tale, “The
Emperors New Clothes.” The child is reviled for pointing out
that the emperor is naked. Thus, the Tea Party is not wrong, just
unwelcome.
Now Obama also wants to point the Blame
Finger at the GOP House for the downgrade in the US debt rating by Standard and
Poor’s. It seems that he believes that everyone else is to blame but
him. That downgrade was predestined by the combination of irresponsible
spending and Obama’s clueless attempts to throw money at a recovery to no
avail. Spending $1.50 for every dollar of revenue, running trillion
dollar annual deficits is reason enough for a downgrade in the US debt rating.
Face it folks: This is Obama’s failed recovery. And if (or when) it
comes to pass, this “double-dip” recession (just around the corner) is his too.
Make no mistake, there IS plenty of
blame to go around. About 75% of Americans are fed up with both Obama and Congress.
The conservative and liberal factions of the House and Senate behaved
badly in the recent debt ceiling negotiation. President Obama wanted to
stay above the fray so he provided no leadership. He didn’t even know
how to bring the opposing viewpoints together. He talked about
bi-partisanship and consensus, but his actions disproved his words.
Until the president saw an impending
disaster, he sat on the sidelines, afraid to do anything that might hinder his
reelection campaign. Then, when his intervention didn’t help, and
arguably hurt the progress, he grew impatient, petulant and angry.
John Boehner, however, did an admirable
job trying to build a compromise deal on the debt ceiling, and get his own
Caucus to support such a plan. Except, Obama was attacked by his liberal
base for even considering the “grand bargain,” so he came in and dumped another
“raise taxes more” demand on Boehner. I’d have walked out too, which
Boehner was right to do.
But at least they were arguing about the right thing: how much
to cut spending and how.
The Tea Party’s desire for fiscal
responsibility is right, but it doesn’t mean that tax revenue can’t be
increased. It can; how it’s done is what matters. The tax code
desperately needs to be restructured. Simply digging in on old positions
doesn’t help; it hurts. The goal
is to “get the country working again,” and grow our way out of this mess.
The one phrase of President Obama’s
that I agree with is “Country First.” But John Boehner was the one who
tried his best to put “Country First.” If Obama truly chooses that as his
2012 campaign slogan, it will reek of hypocrisy.
If the members of Congress would put 1)
country first, 2) constituents wishes next, and 3) personal agendas last, they
might be able to work together to find a way out of this mess.
What happens in the Super-Committee of
Twelve will be both revealing and predictive. Either America’s
Congressional leaders will—or won’t—put "country first" and try to
find common ground and reasonable compromises to lead America out of this mess.
Whatever happens, this failed recovery
and impending recession belong to President Barack Obama. His
condescending explanations of why “we Americans” don’t get it, how “this will
take a long time,” this recovery, and his “class warfare” about “millionaires
and billionaires” versus the “common folk” are all wearing thin.
This kind of rhetoric won’t solve
America’s problems. It
takes strong, informed, and experienced leadership to get through a mess like
this one. We need a fixer, not a hypocritical speechmaker in
the White House. Barack Obama is not that man. A wise man once told
me, “The
person who got you into a problem is seldom the one who will get you out of
it.” That’s
why there will be no recovery on Obama’s watch…’
http://dailybail.com/storage/chart-real-unemployment-3.gif?__SQUARESPACE_CACHEVERSION=1314981227699
’It’s now above 23% with the August update.
Details from John William’s Shadow Stats.’
Shadow Stats ‘The seasonally-adjusted SGS Alternate
Unemployment Rate reflects current unemployment reporting methodology adjusted
for SGS-estimated long-term discouraged workers, who were defined out of
official existence in 1994. That estimate is added to the BLS estimate of
U-6 unemployment, which includes short-term discouraged workers. The U-3
unemployment rate is the monthly headline number. The U-6 unemployment
rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure,
including short-term discouraged and other marginally-attached workers as well
as those forced to work part-time because they cannot find full-time
employment.’
Deja
Vu All Over Again: Total US Debt Passes Debt Ceiling… In Under One Month Since Extension Sep 2nd, 2011 News (ZeroHedge) — ‘Remember when one month ago the US,
to much pomp and circumstance, not to mention one downgrade, announced a grand
bargain raising the debt ceiling from $14.294 trillion to something much
higher, with a stop gap intermediate ceiling of $14.694 trillion, or $400
billion more. Well, as of today, or less than a month since the expansion,
total US debt is at $14.697 trillion. Yep – the total debt is again over the
ceiling, which means the US debt increased by $400 billion in one month. Score
one for fiscal prudence. And while the total debt subject to the limit is still
slightly less, at $14.652, one week of Treasury auctions and will be time for
Moody’s to justify again why the US is a quadruple A credit. http://www.usagold.com/pete/newsviews/DebtCeiling.jpg ‘
Global
Recession: Right Here, Right Now at
Minyanville Mike Mish Shedlock
Sep 02, 2011 Why are we talking about avoiding recession when the global
economy is clearly in one and fundamentals are horrendous?
‘It's time to stop debating whether or not the US or
Europe is headed into recession. The facts show the entire global economy is in
recession.
Global Recession Supporting Data-Points
Ten Thoughts
1. Prior stimulus in the US is dead, having run its full course.
2. There is no incentive in the US Congress for more stimulus.
3. Austerity measures have yet to hit Italy and France.
4. Austerity measures will continue to bite Spain, Greece, Ireland.
5. Germany's export machine will die without the rest of Europe.
6. QE3 will fail much sooner than QE2 as interest rates already extremely
accommodating.
7. Gold may respond well to competitive currency devaluation schemes.
8. The Eurozone is highly likely to breakup, although timing is unknown.
9. Global equities and commodities are priced for perfection.
10. Perfection is not happening.
Talk of avoiding recession when the global economy is clearly in one and
fundamentals are horrendous is sheer lunacy. For more, see Mish's Global
Economic Trend Analysis here.’
U.S. Postal
Service nearing bankruptcy as email asserts its dominance [Good! Let UPS take them over … the
usps is totally unreliable]
‘Brendan posted earlier about how Citigroup is getting worried about profit
margins. They’re not alone — Soc Gen’s in-house Dr. Doom, Albert Edwards, has a
note today with his own take on the subject.
Shockingly, Mr. Edwards’s take is downbeat!
While Citi focused on the impact of government
spending on corporate profits, Mr. Edwards zeroes in on the recent collapse in
productivity and surge in labor costs and what they say about margins:
Last week the BLS
revised the unit labor cost rise in Q2 up from 2.2% to 3.3% quarter over
quarter. US non-farm business unit labour costs are now rising by 2% year over
year. That is very bad news for profits. Bad news for equities. And because the
pace of ULC is a key driver of inflation (upwards in this instance), it is bad
news for an increasingly criticised and divided Fed.
Since labour costs
overwhelmingly dominate corporate costs, trends in productivity are crucial to
the pace of growth of company profits. If unit labour cost growth is below unit
price inflation, then unit margins are expanding. This, together with unit
sales growth (and the less important unit non-labour costs), arithmetically
determine profit growth.
Typically,
productivity growth tends to ebb and flow with the economic cycle – i.e.
productivity tends to rise as the economy accelerates and vice versa. Therefore
unit labour costs tend to fall sharply early in economic recoveries (as has
happened recently), but typically begin to rise and eventually exceed output
price inflation later in the cycle.
When unit labour
costs start to rise quicker than output prices, as is the case now, this tends
to exert an upward pressure on inflation as companies try to maintain margins.
The pass-through of this upward pressure on inflation is largely determined by
the pace of the cycle. If demand is robust, inflation will rise. If demand is weak and companies cannot pass on cost
increases, margins and profits get crushed. That is the tipping point we have
now reached.
And Wall Street analysts, in a truly shocking
development, actually seem to be paying attention, Mr. Edwards writes:
[W]e should not be
surprised at the pace of deterioration in analyst earnings optimism: in fact we
have seen a near record rate of decline in US estimates over the past six
months. In Europe things are even worse! As Andrew Lapthorne shows in this
week’’s Global Equity Market Arithmetic, European (ex UK) the level of analyst
optimism has now dived to 24%, a level only ever reached in recession.’
Prepare
For Recession And Bear Market at
Forbes Sy Harding, ‘Brace yourself for a recession.
Central banks
around the world seem to be doing so, making little effort to prevent it this
time around, resigned to letting the business cycle play out.
Stock markets
around the world also seem to be doing so. In anticipation of economic
slowdowns that won’t slide all the way into recessions, stock markets normally
decline only into corrections (declines of less than 20%). But they plunge into
bear markets when recessions loom.
And global
stock markets outside of the U.S. are already in full-fledged bear markets.
That includes 10 of the world’s 12 largest economies, the exceptions being only
the U.S. and Canada.
In order of
the size of their economies, at the recent August lows the stock market in
China, the world’s second largest economy, was down 23% from its November peak,
Japan down 21%, Germany down 30%, France down 29%, the United Kingdom down 21%,
Brazil down 33%, Italy down 39%, India down 25%, Russia down 28%, and Spain
down 29%. The exceptions were the U.S. and Canada, which at their August lows
were down only 16% (the Dow) and 18% respectively.
The recession
and bear market are coming to the U.S. too, and may have already arrived.
You can be
sure of that because it’s been one world economically for years, and
historically global economies and stock markets tended to always move in and
out of recessions and bear markets together even before their dependence on
each other became so pronounced.
You can be
sure of it because central banks seem willing to let it play out this time as
in days of old, without intervention.
In the
financial crisis of 2007-2008, it took a massive coordinated effort by global
central banks to pull the world back from the brink of what would have been a
total global financial collapse.
But when their
economies began to slow again in 2010, without the world being on the brink of
financial Armageddon, major nations outside of the U.S. were content to let the
business cycle play out normally, arguing against the U.S. Fed’s decision to
jump in with its QE2 stimulus efforts.
Indeed, while
the Fed was making that massive monetary easing effort, central banks in Asia,
Europe, and South America were tightening monetary policies and raising
interest rates to ward off rising inflation, and to tackle the government debt
crises created by their 2008-2009 bailout efforts.
The Fed’s QE2
effort pushed a flood of additional dollars into the global financial system,
spiking the prices of commodities and paper assets like stocks, but had no
lasting effect on even the U.S. economy.
This year, as
global economies again slow significantly, central banks outside of the U.S.
again seem content, or at least resigned, to letting the business and economic
cycle play out, even though it likely means a global recession.
They refrain
from saying anything too negative that might make matters worse, but for
instance, this week the central bank of Brazil, which actually has one of the
world’s strongest and fastest growing economies (but highest rate of
inflation), warned that this downturn in global economies will not be as severe
as in 2008-2009, but will be more prolonged.
The Financial Times reported Friday that “As the Organization for
Economic Cooperation and Development’s forecasts showed on Thursday, the
near-term economic outlook for the Group of Seven is dire, yet the mood is one
of resignation. . . . Finance ministers across the G7 are searching for ways to
explain their lack of likely coordinated action.”
And even in
the U.S., the Federal Reserve has been clearly transparent about its reluctance
to intervene this time.
With the
economy far weaker than it was when the Fed intervened with QE2 last year, Fed
Chairman Bernanke continues to say the Fed has some tools it can use if
necessary, but will wait and see. In his most recent speeches he cautioned that
the Fed is limited in what it can do anyway, and called for Congress to step up
to the plate.
Thursday
evening, President Obama did call for Congress to step up to the plate and pass
his $450 billion jobs bill.
But even if
the proposal should get through the political grinder of the grid-locked
Congress, it would be too little too late by the time it could be implemented.
So prepare for
a recession and bear market.
Hopefully
investors learned from the 2000-2002 and 2007-2009 bear markets that Wall
Street’s advice to diversify into ‘defensive’ stocks won’t do it. As I’ve shown
you in previous columns, so-called defensive stocks, defensive because they pay
high dividends or have been around a long time, are dragged down just as far as
any in a bear market.
Back in ‘the
old days’ the call of successful investors in times like this was that “cash is
king”. Even receiving little to no interest income on cash was better than
experiencing a 30 to 40% loss.
These days
investors are better served. The availability of ‘inverse’ mutual funds and
‘inverse’ exchanged-traded funds, designed to move up when markets move down,
make them the new king in bear markets. Cash may be better than losses, but the
opportunities for 30% profits while others are experiencing 30% losses are even
better.
In the
interest of full disclosure, I and my subscribers have already taken
double-digit profits from positions in the ProShares Short S&P 500 etf,
symbol SH, and ProShares Short Russell 2000 etf, symbol RWM, and we’re looking
at others.’
4
Bearish Mega Trends Simon Maierhofer, September 9, 2011, ‘In 2004, Daniel Simons of the
University of Illinois and Christopher Chabris of Harvard University conducted
an experiment that was as simple as it was fascinating.
If you want to
be part of the experiment, watch this
video before you read any further.
The
Experiment
There are two
groups of three people each. One group is wearing black shirts, the other group
white shirts. The assignment is to watch how many times the players wearing
white, pass the basketball.
If you counted
15, you are correct. But more importantly, did you notice the gorilla? While
you were counting passes, a woman dressed in a gorilla suit walked slowly
across the scene, stopped to face the camera and thumped her chest.
Half of the
people watching the video with the intent of counting passes did not see the
gorilla. The experiment illustrates the phenomenon of unintentional blindness.
This condition, also known as perceptual blindness, prevents people from
perceiving things that are in plain sight.
For most of
2010-11 Wall Street was so enamored by the magical powers of QE2 that it forgot
about the 800-pound gorilla - the economy that wasn't improving. In fact, the
economy continued deteriorating in plain sight.
There are five
bearish mega trends that may draw stock prices much lower over the coming
years. Here are the five mega trends (and what will make stocks rally in
between).
U.S.
Deficit
For a moment,
take a mental journey with me back in time. We are now in early 2008. The major
indexes a la S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI), and Nasdaq (Nasdaq:
^IXIC) are slowly coming off their all-time high, but the collapse of Lehman
Brothers has not yet hit the news.
Unbeknownst to
most, the perfect financial storm is brewing. Once the storm hits, it is much
worse than anyone expected. But, the eventual damage is limited. Why? Because,
the government steps up and does what it takes to prevent the financial system
from failing.
Today has the
feel of early 2008. Another perfect storm may be brewing. Will the government
be there to do what it takes to support 'too big to fail?' No! In 2008
financial companies were in trouble. In 2011 entire countries (look at Europe
and the U.S.) are struggling to escape the grip of delinquency.
A
Decelerating Generation
Starting in
2011, more than 10,000 baby boomers a day will turn 65, a pattern that will
continue for the next 19 years. This dry humor cartoon encapsulates the problem
retirees' face today:
Two older
gentlemen are having a drink. One says: 'As a Baby Boomer, I never thought the
boom would be the sound of my retirement accounts collapsing.' He'd like to sip
on a nice Scotch while enjoying a steak, but has to settle for water and free
bread sticks at Olive Garden.
Most retirees
still haven't recovered from the lost decade. Let's make the term lost decade
more personal. A 55 year old with $100,000 in his retirement account at the
beginning of the year 2000 and a 6% projected rate of return, would have
$201,419 today.
The S&P
trades 20% below its 2000 level. Courtesy of the lost decade, that $100,000 in
the year 2000 has turned into $80,000 today (perhaps less if invested too
aggressively). In other words, many retirees may have to get by on less than
half of their expected nest egg. In addition, their home, rather than being an
asset (many considered it an ATM a few years ago), has turned into a liability.
It doesn't
take much imagination to see that strapped retirees are bad for economic
growth. When the focus is on survival rather than pleasure, sectors like technology
(NYSEArca: XLK - News), retail (NYSEArca: XRT - News), and consumer discretionary
(NYSEArca: XLY - News) suffer.
In addition,
baby boomers that have been buying stocks for decades (think of all the 401k
money) are now turning into sellers of stock.
Low
Interest Rates
Low interest
rates are great for the U.S. government because it reduces debt payments on
Treasuries and businesses wanting to expand. Unfortunately, businesses don't
feel like expanding or even hiring and for pretty much everyone else low
interest rates are negative.
Some try to
sell the idea that low interest rates are good for stocks (NYSEArca: VTI - News) because money will flow
from low interest bonds into stocks in an effort to get a better return.
The chart
below plots the Nikkei against Japan's version of the discount rate. The
discount rate has been below 1% since 1995. At the same time the Nikkei has
dropped from above 20,000 to below 10,000. Much of this happened during a
raging global bull market. Imagine what a global bear market can do to U.S.
stocks.
https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20japan%20discount.gif
Low interest
rates are a double negative because they reduce available spending for retirees
who need to get as much income as possible to survive.
Coming to
a Head
The above
three bearish trends were highlighted in detail in various 2011 ETF Profit
Strategy Newsletters. Due to those, and other mega trends, the Newsletter has
been expecting a major market top.
For much of
2011 however, the expectation of a major market top was postponed until the
ideal target range was reached. The April 3 ETF Profit Strategy update included
a precise range for a major market top: 'In terms of resistance levels, the
1,369 - 1,382 range is a strong candidate for a reversal of potentially
historic proportions. '
Why was
S&P 1,369 - 1,382 a candidate for a reversal of historic proportions? The
chart below, published by the ETF Profit Strategy Newsletter in March and many
times since, has the answer.
https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20M%20pattern.gif
What you see
is a giant M, or head and shoulders top. The right shoulder was made up of the
parallel trend channel that connects the 2002 and 2009 low, with the 2000 high.
In April/May the upper line of the trend channel ran through 1,377. Additional
resistance was provided by Fibonacci levels at 1,389 and 1,369.
On May 2, the
S&P briefly spiked as high as 1,370.58 before retreating and eventually
dropping 18% in twelve trading days (July 25 - August 9). Once the S&P
dropped below the 200-day SMA it entered free fall territory.
The July 28
ETF Profit Strategy update warned that: 'A break below the 200-day SMA and the
trend line may trigger panic selling. One way to avoid missing out on a
potentially big opportunity is to use the 200-day SMA at 1,284 as delineation
between bullish and bearish bets - buy as long as the 200-day SMA serves as
support, sell if it becomes resistance.'
From top to
bottom (once the bottom is in), the S&P will have fallen more than 250
points. No doubt this kind of move validates a counter trend rally. When and
where will this rally start and how high will it go?
The ETF Profit Strategy Newsletter provides a detailed outlook for the
remainder of 2011 along with the target for a 2011 bottom and 2011 top. The
Newsletter doesn't promise to get every turn of the market right, but it will
identify the money-losing gorillas. Just imagine if you sold your holdings at
the target range for a major top.’
Zero
Job Growth in August Supports Recession Case ETFguide.com
Why
to Sell When Wall Street Says 'Buy' and Vice Versa ETFguide.com
S&P
1,100 And Lower - More Likely Than you Think Simon Maierhofer, On Friday
September 9, 2011, ‘The S&P has been chopping around aimlessly for
nearly a month. Wednesday ETF Profit Strategy update explained the reason and
the outcome as follows:
'The aimless
sideways trading and lack of powerful and predominantly one-directional rally
suggests that the S&P is stuck in a mild up side correction to be followed
by new lows. Range bound trading lulls investors into a false sense of
security.'
Here are more
than a handful of reasons why new lows are likely.
Up Trend
Broken
The chart
below shows the Dow Jones Industrials (DJI: ^DJI) since the March 2009 bottom.
The DJIA weekly candle low touched the yellow trend line on different occasions
before breaking through it on August 2.
The S&P
500 (SNP: ^GSPC) and Nasdaq (Nasdaq: ^IXIC) adhered to a similar but not as
pronounced trend line. But the S&P also had a key experience on August 2.
The August 2 ETF Profit Strategy Newsletter update observed regarding a head
and shoulders top that the: 'S&P is about to break below the neckline
around 1,249. A break below this neckline would unlock a measured target of
S&P 1,140.'
The fact that
both the DJIA and S&P 500 broke through necklines that have held for over
two years is less than encouraging.
In addition,
the S&P's May 2 high at 1,370 occurred right within the sweet spot of a
major market top. The ETF Profit Strategy Newsletter published the chart below
on various occasions throughout March, April and May and preached that S&P
1,369 - 1,382 is the ideal target range for a major market top (chart below was
featured in the April 5 ETF Profit Strategy update).
https://www.etfguide.com/images/PDNewsletter_Images/5%20-%20April%203%20TF.jpg
Death
Cross
The death
cross is one of the most talked about technical events, that's why I don't put
too much stock in it. However, there are two interesting facts about previous
death crosses.
The 2000 and
2007 death cross occurred about three days before the S&P embarked on its
next leg down. The 2010 death cross was actually a buy signal. However, it
occurred after the S&P and DJIA bounced off the yellow trend line (this
time the trend line was broken).
Seasonality
August,
September, and October is the most bearish stretch of the year. September and
October sport negative performance even in the pre-election year.
Sentiment
From S&P
1,370 on May 2 to S&P 1,258 on June 16, the S&P shed 112 points and
sentiment measured by Investors Intelligence (II) and the American Association
for Individual Investors (AAII) turned deeply bearish. The June 16 ETF Profit
Strategy update took that as a queue to buy (long positions were closed at
S&P 1,340).
From S&P
1,353 on July 7 to S&P 1,102 on August 9 the S&P lost 251 points, yet
the II sentiment poll registered the second most bullish reading since the
first week of May. AAII and II polls are often considered the 'dumb money.' If
the 'dumb money' views last Wednesday's low as a buying opportunity, the 'smart
money' should be suspicious.
VIX
Pattern
If you have
the charting capabilities, take a moment and plot the VIX (NYSEArca: VXX -
News) against the S&P for the month of September - November 2008 and April
- July 2010. If you don't have the time you may simply look at the chart below.
https://www.etfguide.com/images/PDNewsletter_Images/yahoo%20-%20vix%20pattern.gif
What we've
seen in 2008 and 2010 is that a VIX peak did not coincide with the S&P
bottom. The S&P bottom actually occurred against a lower VIX reading. If
this pattern continues, we will see lower lows.
The August 14
ETF Profit Strategy update includes a detailed analysis of the VIX pattern,
along with the time frame and target level for an expected turn.
The
Script
Via more or
less accidental chart surfing I found a striking resemblance between the 2007
market top and the May 2011 top. This moved me to state in the July 17
Profit Strategy update that:
'There is a
similar trend line and a triple top above the trend line. A break below that
trend line could be a precursor of bad things. Next week the trend line will be
at about 1,262.'
The S&P
sliced through that trend line on August 4 and fell an additional 12% within
the next four days (this ascending trend line is now a big target and
resistance).
The August 7
Profit Strategy update revisited that script and concluded this: 'We now have a
rough script; let's see how much lip the actors will add during the live performance
(I.e. S&P downgrade).
The two main
things I have taken away from the 2007 script are:
1) There will
be a new low.
2) There will
be a powerful counter trend rally to around 1,xxx (reserved for subscribers).'
Short-term
Outlook
Wednesday's
(September 7) ETF Profit Strategy update advised aggressive investors to short
the S&P 500 as soon as it breaks below 1,173. This doesn't mean that stocks
can't go higher, but shorting the S&P against major support/resistance
(with a tight stop-loss above) is the only conservative way to assure
participation in the next leg down…’
Ominous
Bear Flag Pattern Suggests S&P 500 At 1,000 Scott Redler ‘Talk of a possible Greek debt default grew louder
as the day wore on Friday, with several euro zone officials commenting that
they expect a default over the weekend. Naturally, the markets didn’t respond
positively to the news. Combine that with the terror alerts in New York City
and Washington, D.C., this weekend for the 10th anniversary of 9/11, and it was
a recipe for heavy selling.
The Dow closed
off more than 300 points to finish another wildly volatile week, and based on
the action and news, we could be headed for another huge Monday morning gap
down. However, it was difficult to chase shorts at the end of the day at such
oversold levels, because if the Greek default doesn’t come to fruition and
there is no major terrorist attack, those short positions would likely be in
serious pain.
The news of a
possible Greek default, which would be a historic first-time event,
overshadowed any individual stock stories today. In isolation, the default of a
relatively small Eurozone economy would not be the “end of the world”, but with
other, larger Euro economies standing on extremely shaky ground (especially
Italy), such an event could trigger a domino effect unlike anything ever
witnessed in modern human history.
Conventional
wisdom would tell you that gold shot through the roof on a day like this, but
whispers about potential margin hikes pushed GLD to a lower open and seemed to
keep the metal at bay. Even with the market tanking, GLD had a hard time
ticking higher.
Technical
Take
If you take a
step back and look at the SPY chart on a daily and even weekly time frame, the
obvious pattern that jumps out at you is a wide, but well-defined, bear flag. Previously,
we noted the well-defined head and shoulders pattern that forecast the deep
correction.
The only
strategies that have worked, and provided limited risk, over the past month
have been buying and selling extreme moves in both directions. Large gap downs
on Monday and Tuesday had investors extremely bearish–the most bearish since
September 2007–which gave way to a steep short squeeze.
As we’ve seen
before, that low-volume bounce/short squeeze was only “transitory”, as Ben
Bernanke would put it. The oversold bounce we saw early in the week actually
turned out to be a negative event for the bulls, because it allowed the market
to work off its severely oversold condition and prime for another plunge.
After such a
harsh move lower, which began around the time of the debt ceiling debate and
S&P downgrade, it is natural for there to be some indecision in the
indices. However, nobody would have expected the range to remain as wide as it
has been. Resolution to this pattern will come at one point or another, and
based in the in-bound move, there will be a powerful secondary move (more than
likely to the downside). The lower end of the channel also lines up with the
200-week Moving Average, which will be another crucial technical level.
The measured
move could take the S&P down to the 1,000 range if a worst-case type
scenario plays out, which would involve a Greek debt default that triggered a
domino effect in Europe that could likely trigger defaults in at least a few
other PIIGS (Portugal, Ireland, Italy, Greece, Spain) nations as well.
http://blogs-images.forbes.com/greatspeculations/files/2011/09/SP-bear-flag-1024x675.png
Technically, we are also seeing some clues that tell us that all is not well with Mr. Market. Nearly every sector is currently mired in a bearish technical formation; there are no rays of light. The one area of relative strength early in the week, is starting to look ready to break down as well.
One clue we
look to first is high-beta tech. If the market is healthy under the hood, the
leading high-beta tech stocks will usually hold up well. We saw some relative
strength early in the week from the likes of Apple Inc. (AAPL), Amazon.com Inc.
(AMZN) and Baidu.com Inc. (BIDU), but none of them were able to withstand the
force of today’s drop. AAPL and BIDU in particular look to be forming wedge
continuation patterns, which generally resolve to the downside.
During the
formation of the head and shoulders pattern, for example, the Industrials (XLI)
and the Homebuilders (XHB) started to break down first, which signaled to us
that the rest of the market wasn’t far behind.
When selling
is isolated and weak sectors drag the market down, it can be considered a
buying opportunity for strong stocks. When selling is more across-the-board,
it’s a sign to get of the way.
The measured
move of the head and shoulder played out almost to a ‘T’ (as you can see on the
chart). Technical patterns aren’t always perfect, but they provide a good
roadmap. Another thing you have to understand about technical analysis too is
that it is largely a self-fulfilling prophecy. Moves in the market often play
out simply because a large group of traders and investors are reacting based on
the same set of rules.
Before the
break of the head and shoulders, you had the more
mainstream media start talking about the ‘scary’ head and shoulders top pattern,
which got both Main St. and Wall St. bearish. Now, everyone in the industry is
talking about this ominous bear flag pattern, which is likely to make its
rounds in the more mainstream media this weekend (along with the news about
Greece).
Final
Word
While doomsday
talk is rampant right now–between a domino effect of European sovereign debt
defaults to 9/11 anniversary attacks–as traders we never trade based on assumptions.
The traders who are consistent and profitable over the long haul are the ones
who, first and foremost, limit their risk. At the end of the day today, for
example, there is enormous risk for both longs and shorts.
If Greece does
default and/or there is some sort of attack on NYC/DC, the market is sure to
open sharply lower on Monday. However, if one or both of those events do not
occur, shorts would be in for a massive squeeze. After such a harsh down day
like today, it is best to take any profits you may have generated and take a
firm seat on the sidelines.
Even if you
are not involved in the weekend trade, there will be tremendous opportunity
over the next few weeks to take advantage of this historic market volatility.
Great opportunity comes with great risk, so be sure to, more than ever, stick
to your personal trading rules and don’t make big bets you can’t afford to pay
off.’
Unprecedented
Monthly Volume Sell-Off Suggests Now's the Time to Take Shelter at Minyanville Kevin A. Tuttle
Sep 12, 2011 ‘Do not concern yourself if the market goes up today, tomorrow, or
a month from now. The risk of entering is not worth the reward.
Over the
weekend I had the pleasure of speaking with a very prominent European money
manager – overseeing hundreds of billions – about the
"across-the-pond" financial
crisis unwind and looming hazard of a potential domino-effect coming to
fruition. Without rehashing the entire conversation, the consensus is not
"if," it’s "when" will the developing pressure finally
blow. He actually went so far as to say it could truly begin unraveling within
the next few weeks considering the catalysts currently in play.
The intent of providing the conversation synopsis is not for sake of fear, but
understanding the potential ramifications. About three years ago, in one of my firm's
quarterly reports, we opined on a unique situation in regard to the GDP
measurements of Global Nations. It stated the unprecedented growth statistics
from the 56 nations tracked. “History is currently being made in the sense that
all the globally tracked economic growth nations (56), every one… 100%..., are
showing expansion.” This lead
to my next comment… “If the economic cycle pendulum swings in both directions
what would happen if the inverse occurred?” Are 2011/2012 the years we are
about to find out? Maybe that’s somewhat extreme, but yet… is it possible?
We at my firm do not pretend to be intelligent enough to figure out all the
nuances, catalysts, causes and reasons why the markets could fall apart; we’ll
leave it to the team of economists and officials to attempt to sort that out.
What we do instead is try to determine when the storm is coming and how to take
shelter, which brings me to my point: Now is the time. Take shelter! Do
not concern yourself if the market goes up today, tomorrow or a month from now.
Clarity is key! Would you sail your boat into rocky waters with a potential
hurricane looming because of your love of sailing? Is the risk
worth the reward? For some, maybe; but for most, probably not.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/jo.jpg
Since the "2011 Channel of Indecision" broke on August 4, the seas
have picked up dramatically and have begun swallowing ships. The markets have never
seen this type of monthly volume sell-off – 47% above average
(unprecedented), as seen in the monthly chart above. As Kenny Rogers put it so
eloquently… “Know when to hold em’ and know when to fold em', know when to walk
away, know when to run!”
Editor's Note: Read more at Tuttle
Asset Management.’
What's the
Long-Term Outlook for Stocks and The Economy? ETFguide Simon Maierhofer,
September 12, 2011, ‘The stock market's summer performance has been
nothing but stunning. Seeing daily swings in excess of 4% has become as common
as American fast food in China.
Sometimes
it's helpful to step back and shift the focus from day-to-day changes to
multi-decade trends. This kind of big picture evaluation shows whether events
like this summer's meltdown are just a hiccup or confirmation of a long-term
trend (change).
MORE THAN JUST A MULTI-DECADE FLUKE
Gradual
changes are often so subtle that they are nearly invisible to the naked eye or
novice observer. But, just because a change is gradual doesn't mean it's
insignificant.
Let's
take a look at the basic make up of the U.S. economy. A few decades ago,
sweat-trenched U.S. manufacturing facilities were the most fertile,
growth-producing environment on the planet. This growth was fueled by 'Made in
America' products. The growth was organic and it was real.
The
first red box in the chart below captures this period of powerful organic
growth. It lasted from 1947 - 1966. During this period, GDP growth averaged
4.18%.
The
second red box captures a period of growth fueled by low interest and financial
engineering. During this period - from 1975 - 2000 - GDP growth averaged only
3.4%.
https://www.etfguide.com//contributor/UserFiles/8/Image/Growth%20Periods%20Yahoo.gif
(The
above chart was featured in the March 2011 ETF Profit Strategy Newsletter)
The Only Original Dow Component, Not some Hot Tech Stock
General
Electric (NYSE: GE - News),
a company that prospered during both phases, aptly illustrates the difference
between both periods.
Until
the late 1960s, GE was known for manufacturing quality, American-made products
like refrigerators, washing machines, stoves, light bulbs, and jet engines. GE
manufactured real products, provided real jobs, and made real profits.
Starting
in the 1980s GE changed its focus from blue collar manufacturing to white
collar alchemy. GE ventured into television and high finance. GE's focus
shifted from building quality products to financing purchases of competitor
products. Ultimately, it went from manufacturing real products to building a
financial house of cards.
In
August 2000, GE traded as high as $60.5 a share. In 2009 it was as low as $5.73
- a 90% drop. Today, it's hovering around $15. As you ponder this change in
valuation, keep in mind that GE is the only original Dow Jones Industrial
Average (DJI: ^DJI) component, not some hot today cold tomorrow tech stock.
A NEW TREND IS BORN ... AND KILLED
Financially
engineered (artificial) profits appeared to be the best new thing since sliced
bread. However, GDP growth since 2000 has dropped dramatically, now only 1.71%.
The post-2007 meltdown shows that an economy cannot be built on the financial
(NYSEArca: XLF - News)
and banking (NYSEArca: KBE - News)
sectors.
It
also shows that an artificial bull market is much more receptive to huge
corrections. We've had the 2000 tech bust (NYSEArca: XLK
- News),
the 2005 real estate (NYSEArca: IYR - News)
debacle, the 2007/2008 deflation of the financial sector, and most recently the
summer 2011 meltdown.
If
you think financially engineered profits are bad, brace yourself for what lies
ahead. The hopes for economic prosperity (perhaps even survival) rest on Facebook,
Twitter, Groupon, LinkedIn, Netflix, and the like.
Social
networking isn't a proven business model, yet Facebook has an estimated market
cap larger than those of Boeing, Home Depot, Walt Disney, Dell, Hewlett
Packard, Costco, or even Goldman Sachs.
Hewlett-Packard
employs 325,000 people, Home Depot 300,000, Boeing 160,000. However, Facebook
cuts pay checks to only about 1,000 lucky employees. Welcome to the
future of high corporate profit margins and even higher unemployment.
Groupon
has an estimated value of $6-9 billion, but its recipe of success is to coax
businesses into providing discounts of 50 - 90%. Groupon is a classic economic
leach that benefits by sucking the profits out of its client base and teaching
its subscribers to buy only at discount prices. Welcome to a future of
shrinking small business profits.
THE STOCK MARKET AGREES
The
big picture fundamental outlook appears less than confidence inspiring. What
about the big picture technical outlook?
The
chart below (although small in size due to upload limitations) was featured in
the March ETF Profit Strategy Newsletter and provides a big picture technical
forecast. In fact, it's about as 'big picture' as it gets.
https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20M%20pattern.gif
What
you see is a giant bearish M pattern, it could even be considered a head and
shoulders pattern. The neckline is formed by the 2002 and 2009 lows.
To
determine an upside price target, we drew a parallel channel that connects the
2002 and 2009 lows with the 2000 high. The April 3 ETF Profit Strategy update
said the following about this trend channel and other resistance levels:
'For
the month of April this trend line will traverse through 1,377. The 78.6%
Fibonacci retracement is at 1,381.5. There is a fairly strong Fibonacci
projection resistance at 1,369. In terms of resistance levels, the 1,369 -
1,382 range is a strong candidate for a reversal of potentially historic
proportions.'
The
S&P (SNP: ^GSPC) peaked on May 2 at 1,370.58 and has since lost as much as
269 points or 19%. The Nasdaq (Nasdaq: ^IXIC) has held up slightly better, but
no matter how you slice it, the stock market has given up more than a year's
worth of gains within a matter of weeks. The VIX (Chicago Options: ^VIX) spiked
to the highest level in over a year.
In
addition, all major U.S. indexes broke below a trend line that has provided
support on nine different occasions since the March 2009 lows.
This
doesn't prevent rallies. In fact, based on our research, we should see a
sizeable rally soon. However, odds favor that the stock market's trend has
changed from up to down…’
[video]
Trader: Waiting for Treasury Bubble to Burst at TheStreet.com
Preparing
for a Credit Crisis at Minyanville John Mauldin’ “I am sure the Euro will oblige
us to introduce a new set of economic policy instruments. It is politically
impossible to propose that now. But some day there will be a crisis and new
instruments will be created.”-- Romano Prodi, EU Commission President,
December 2001
Prodi and the other leaders who forged the euro … knew a crisis would develop,
as Milton Friedman and many others had predicted. They accepted that as the
price of European unity. But now the payment is coming due, and it is far
larger than they probably thought…
The Consequences of Austerity
The markets are pricing in an almost 100% certainty of a Greek default (OK,
actually 91%), and the rumors in trading circles of a default this weekend by
Greece are rampant. Bloomberg (and everyone else) reported that Germany is
making contingency plans for the default. Of course, Greece has issued three
denials today that I can count. I am reminded of that splendid quote from the
British ’80s sitcom, Yes, Prime Minister: “Never believe anything until it’s
been officially denied.”
Germany is assuming a 50% loss for their banks and insurance companies. Sean
Egan (head of very reliable bond-analyst firm Egan-Jones) thinks the ultimate
haircut will be closer to 90%. And that is just for Greece. More on the
contagion factor below.
“The
existence of a ‘Plan B’ underscores German concerns that Greece’s failure to
stick to budget-cutting targets threatens European efforts to tame the debt
crisis rattling the euro. German lawmakers stepped up their criticism of Greece
this week, threatening to withhold aid unless it meets the terms of its
austerity package, after an international mission to Athens suspended its
report on the country’s progress.
“ ‘Greece is “on a knife’s edge,”’ German Finance Minister Wolfgang Schaeuble
told lawmakers at a closed-door meeting in Berlin on Sept. 7, a report in
parliament’s bulletin showed yesterday. If the government can’t meet the aid
terms, ‘it’s up to Greece to figure out how to get financing without the euro
zone’s help,’ he later said in a speech to parliament.
“Schaeuble travelled to a meeting of central bankers and finance ministers from
the Group of Seven nations in Marseille, France, today as they face calls to
boost growth amid increasing threats from Europe’s debt crisis and a slowing
global recovery.” (Bloomberg)
(There is an over/under betting pool in Europe on whether Schaeuble remains as
Finance Minister much longer after this weekend’s G-7 meeting, given his clear
disagreement with Angela Merkel. I think I take the under. Merkel is tough. Or
maybe he decides to play nice. His press doesn’t make him sound like that type,
though. They are playing high-level hardball in Germany.)
Anyone reading my letter for the last three years cannot be surprised that
Greece will default. It is elementary school arithmetic. The Greek debt-to-GDP
is currently at 140%. It will be close to 180% by year’s end (assuming someone
gives them the money). The deficit is north of 15%. They simply cannot afford
to make the interest payments. True market (not Eurozone-subsidized) interest
rates on Greek short-term debt are close to 100%, as I read the press. Their
long-term debt simply cannot be refinanced without Eurozone bailouts…
[Quick sidebar: If (when) the US goes into recession [We’re already in a
recession!], have you thought about what the result will be? A recession of
course means lower GDP, which will mean higher unemployment. That will increase
costs due to increased unemployment and other government aid, and of course
lower revenues as tax receipts (revenues) go down. Given the projections and
path we are currently on, that means even higher deficits than we have now. If
President Obama has his plan enacted, and if we go into a recession, we will
see record-level deficits. Certainly over $1.5 trillion, and depending on the
level of the recession, we could scare $2 trillion. Think the Tea Party will
like that? Governments have less control than they think over these things. Ask
Greece or any other country in a debt crisis how well they predicted their
budgets.]
The Greeks were off by over 25%. And they are being asked to further cut their
deficit by 4% or so every year for the next 3-4 years. That guarantees a
full-blown depression. And it also means lower revenues and higher deficits,
even at the reduced budget levels, which means they get further away from their
goal, no matter how fast they run. They are now in a debt death spiral. There
is no way out, short of Europe simply bailing them out for nothing, which is
not likely.
Europe is going to deal with this Greek crisis. The problem is that this is the
beginning of a string of crises and not the end. They do not appear, at least
in public, to want to deal with the systemic problem of too much debt in all
the peripheral countries…
Euro Breakup – The Consequences
“The Euro Should
Not Exist (Like This)
“Under the current structure and with the current membership, the Euro does not
work. Either the current structure will have to change, or the current
membership will have to change.
“Fiscal Confederation, Not Break-Up
“Our base case with an overwhelming probability is that the Euro moves slowly
(and painfully) towards some kind of fiscal integration. The risk case, of
break-up, is considerably more costly and close to zero probability. Countries
cannot be expelled, but sovereign states could choose to secede. However,
popular discussion of the break-up option considerably underestimates the
consequences of such a move.
“The Economic Cost (Part 1)
“The cost of a weak country leaving the Euro is significant. Consequences
include sovereign default, corporate default, collapse of the banking system
and collapse of international trade. There is little prospect of devaluation
offering much assistance. We estimate that a weak Euro country leaving the Euro
would incur a cost of around €9,500 to €11,500 per person in the exiting
country during the first year. That cost would then probably amount to €3,000
to €4,000 per person per year over subsequent years. That equates to a range of
40% to 50% of GDP in the first year.
“The Economic Cost (Part 2)
“Were a stronger country such as Germany to leave the Euro, the consequences
would include corporate default, recapitalization of the banking system and
collapse of international trade. If Germany were to leave, we believe the cost
to be around €6,000 to €8,000 for every German adult and child in the first
year, and a range of €3,500 to €4,500 per person per year thereafter. That is
the equivalent of 20% to 25% of GDP in the first year. In comparison, the cost
of bailing out Greece, Ireland and Portugal entirely in the wake of the default
of those countries would be a little over €1,000 per person, in a single hit.
“The Political Cost
“The economic cost is, in many ways, the least of the concerns investors should
have about a break-up. Fragmentation of the Euro would incur political costs.
Europe’s ‘soft power’ influence internationally would cease (as the concept of
‘Europe’ as an integrated polity becomes meaningless). It is also worth
observing that almost no modern fiat currency monetary unions have broken up
without some form of authoritarian or military government, or civil war.”
Welcome to the Hotel California
Welcome to the Hotel California
Such a lovely place
Such a lovely face
They livin’ it up at the Hotel California
What a nice surprise, bring your alibis
Last thing I remember, I was running for the door
I had to find the passage back to the place I was before
“Relax,” said the night man, “We are programmed to receive.
You can check out any time you like, but you can never leave!”
-- The Eagles, 1977
You can disagree with the UBS analysis in various particulars, but what it
shows is that there is no free lunch. It is not a matter of pain or no pain,
but of how much pain and how is it shared. And to make it more difficult,
breaking up may cost more than to stay and suffer, for both weak and strong
countries. There are no easy choices, no simple answers. Like the Hotel
California, you can check in but you can’t leave! There are simply no
provisions for doing so, or even for expelling a member.
The costs of leaving for Greece would be horrendous. But then so are the costs
of staying. Choose wisely. Quoting again from the UBS report:
“… the only way for a country to leave the EMU in a legal manner is to
negotiate an amendment of the treaty that creates an opt-out clause. Having
negotiated the right to exit, the Member State could then, and only then,
exercise its newly granted right. While this superficially seems a viable exit
process, there are in fact some major obstacles.
“Negotiating an exit is likely to take an extended period of time. Bear in mind
the exiting country is not negotiating with the Euro area, but with the entire
European Union. All of the legislation and treaties governing the Euro are
European Union treaties (and, indeed, form the constitution of the European
Union). Several of the 27 countries that make up the European Union require
referenda to be held on treaty changes, and several others may choose to hold a
referendum. While enduring the protracted process of negotiation, which may be
vetoed by any single government or electorate, the potential secessionist will
experience most or all of the problems we highlight in the next section (bank
runs, sovereign default, corporate default, and what may be euphemistically
termed ‘civil unrest’).”
Leaving abruptly would result in a lengthy bank
holiday and massive lawsuits and require the willingness to simply thumb your
nose in the face of any European court, as contracts of all sorts would have to
be voided. The Greek government would have to “conveniently” pass a law that
would require all Greek businesses to pay back euro contracts in the “new
drachma,” giving cover to their businesses, who simply could not find the euros
to repay. But then, what about business going forward?
Medical supplies? Food? – The basics? You have to find hard currencies for what
you don’t produce in the country. Greece is not energy self-sufficient,
importing more than 70% of its energy needs. They have a massive trade deficit,
which would almost disappear, as who outside of Greece would want the “new
drachma?” Banking? Parts for boats and business equipment? The list goes on and
on. Commerce would slump dramatically, transportation would suffer, and
unemployment would skyrocket.
If Germany were to leave, its export-driven economy would be hit very hard. It
is likely that the “new mark” would appreciate in value, much like the Swiss
Franc, making exports from Germany even more costly. Not to mention potential
trade barriers and the serious (and probably lengthy) recession that many of their
export and remaining Eurozone trade partners would be thrown into. And German
banks, which have loaned money in euros, would have depreciating assets and
would need massive government support. (Just as they do now!)..
Ray Dalio and his brilliant economics team at Bridgewater have done a series of
reports on a plan for Europe. Basically, it involves deciding which
institutions must be saved (and at what cost) and letting the rest simply go
their own way. If they are bankrupt,
then so be it. Use the capital of Europe to save the important institutions
(not shareholders or bondholders). Will they do it? Maybe.
The extraordinarily insightful and brilliant John Hussman recently wrote on a
similar theme. He is a must-read for me. Quoting:
“The global economy is at a crossroad that demands a decision – whom
will our leaders defend? One choice is to defend bondholders – existing owners
of mismanaged banks, unserviceable peripheral European debt, and lenders who
misallocated capital by reaching for yield and fees by making mortgage loans to
anyone with a pulse. Defending bondholders will require forced austerity in
government spending of already depressed economies, continued monetary
distortions, and the use of public funds to recapitalize poor stewards of
capital. It will do nothing for job creation, foreclosure
reduction, or economic recovery.
“The alternative is to defend the public by focusing on the reduction of
unserviceable debt burdens by restructuring mortgages and peripheral sovereign
debt, recognizing that most financial institutions have more than enough shareholder
capital and debt to their own bondholders to absorb losses without hurting
customers or counterparties – but also recognizing that properly restructuring
debt will wipe out many existing holders of mismanaged financials and will
require a transfer of ownership and recapitalization by better stewards. That
alternative also requires fiscal policy that couples the willingness to accept
larger deficits in the near term with significant changes in the trajectory of
long-term spending.
“In game theory, there is a concept known as ‘Nash equilibrium’ (following the
work of John Nash). The key feature is that the strategy of each player is
optimal, given the strategy chosen by the other players. For example, ‘I drive
on the right / you drive on the right’ is a Nash equilibrium, and so is ‘I
drive on the left / you drive on the left.’ Other choices are fatal.
“Presently, the global economy is in a low-level Nash equilibrium where
consumers are reluctant to spend because corporations are reluctant to hire;
while corporations are reluctant to hire because consumers are reluctant to
spend. Unfortunately, simply offering consumers some tax relief, or trying to
create hiring incentives in a vacuum, will not change this equilibrium because
it does not address the underlying problem. Consumers are reluctant to spend
because they continue to be overburdened by debt, with a significant proportion
of mortgages underwater, fiscal policy that leans toward austerity, and
monetary policy that distorts financial markets in a way that encourages
further misallocation of capital while at the same time starving savers of any
interest earnings
at all.
“We cannot simply shift to a high-level equilibrium (consumers spend because
employers hire, employers hire because consumers spend) until the balance sheet
problem is addressed. This requires debt restructuring and mortgage
restructuring. While there are certainly strategies (such as property
appreciation rights) that can coordinate restructuring without public
subsidies, large-scale restructuring will not be painless, and may result in
market turbulence and self-serving cries from the financial sector about
‘global financial meltdown.’ But keep in mind that the global equity markets
can lose $4-8 trillion of market value during a normal bear market. To believe
that bondholders simply cannot be allowed to sustain losses is an absurdity.
Debt restructuring is the best remaining option to treat a spreading cancer.
Other choices are fatal.”
(Click here
for the rest of the article.)
You think the world’s central banks and main
institutions are not worried? They are pulling back from bank debt in Europe,
as are US money-market funds. (Note: I would check and see what your
money-market funds are holding – how much European bank debt and to whom? While
they are reportedly reducing their exposure, there is some $1.2 trillion still
in euro-area institutions that have PIIGS exposure.)
Look
at the following graph from the St. Louis Fed. It is the amount of deposits at
the US Fed from foreign official and international accounts, at rates that are
next to nothing. It is higher now than in 2008. What do they know that you
don’t?
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/fred1.jpg
The Slow March to Recession in the US..
John Hussman, in the same report, offers the chart below, which is a variant on
themes I have highlighted in past issues, but with his own personal twist. It
is a combination of four Fed indices and four ISM reports. And it has been
reliable as a predictor of recessions – one of which it strongly suggests we
are either in or heading into.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/fred2.jpg
And recent revisions to economic data
suggest that companies are going to have even more trouble making those
powerhouse earnings that are being estimated. As Albert Edwards of Societe
Generale reports this week:
“… at the start of 2011, productivity trends took a remarkable turn for
the worse – especially compared to what was initially reported. An initial
estimate that Q1 productivity grew by 1.8% was transformed to show a decline of
0.6%. A slight 0.7% rise in Q1 ULC (unit labor costs) was transformed to show a
staggering surge of 4.8%! In addition to that 4.8% rise, ULC rose a further
2.2% in Q2. But the news gets even worse Last week the BLS revised the ULC rise
in Q2 up from 2.2% to 3.3% QoQ. US non-farm business unit labor costs are now
rising by 2% yoy. That is very bad news for profits. Bad news for equities. And
because the pace of ULC is a key driver of inflation (upwards in this
instance), it is bad news for an increasingly criticized and divided Fed.”
Preparing for a Credit Crisis
There is so much that could push us into another 2008 Lehman-type credit
crisis..
I did an interview with good friends David Galland
and Doug Casey of Casey Research yesterday. They are decidedly more bearish
than I am, so wanted an “optimist” to sit on their panel. But they forced me to
admit that some of my optimism depends on the probability of US political
leaders doing the right thing. ..
But whether you want to make it 50-50 to 70-30 or (pick a number), there is a
reasonable prospect of another credit crisis. So what should you do?
First, think back to 2008. Were you liquid enough? Did you have enough cash? If
not, then think about raising that cash now. When the crisis hits, you have to
sell what you can for what you can get, not what you want for reasonable prices
…’
Don't Trust Wall
Street and this Market ETFguide [ I couldn’t say this better myself!
Take heed! My sentiments exactly, except far worse is in store! ] Simon
Maierhofer, September 13, 2011, ‘The chicken is clueless about the egg's fate. Will it
hatch or become an omelet?
Wall
Street is clueless about their forecasts, will they 'hatch' or become egg on
their face? Who cares; as long as it sounds good at the time, Wall Street's
opinions are promoted by the media. Is this a haphazard approach? Judge for
yourself.
The
most recent Wall Street blunder was the over emphasis on positive earnings in
April. Here are some of the headlines Wall Street and the financial media
featured late April 2011:
Morgan
Stanley shares rise as earnings beat estimates
Stocks,
commodities rise as earnings top estimates
Leading
U.S. indicators, consumer confidence gain as fuel costs discounted
World
revs up U.S. profits
The
Global economy is improving
The
S&P breaks out
The
Dow's going to 20,000
Sales
growth the big surprise on Wall Street
Buffett
says odds of another U.S. banking crisis low
Equities
finally seeing light on the economy
Stocks
find sea of tranquility
Flawed Reasoning
The
chart below, featured in the September 2010 ETF Profit Strategy Newsletter,
reveals the flawed reasoning behind Wall Street's expectations. It plots
Earnings per Share (EPS) against GDP and U-6 unemployment numbers.
https://www.etfguide.com//contributor/UserFiles/8/Image/EPS%20Growth%20Yahoo.gif
Notice
how earnings for Q1, Q2, and Q3 2011 were supposed to reach a new all-time
high. There were at least four reasons why record high EPS estimates were not
long-term bullish:
1)
GDP was contracting, U-6 (and every other measure of unemployment) did not
signal a recovery. Every spike in EPS would be temporary and unsustainable.
2)
EPS estimates are just a projection and are about as valuable as an un-hatched
egg.
3)
The last time EPS reached an all-time high was in Q2 2007. We all know what
happened thereafter.
4)
EPS or P/E ratios can be distorted via financial trickery. Financials (NYSEArca:
XLF
- News)
and banks (NYSEArca: KBE - News)
took advantage of this when accounting rule FASB 157 was changed on April 2,
2009. This allowed banks to hide trillions of dollars of unrealized
mortgage losses in an accounting loophole that doesn't affect their income
statement and earnings. Thus some of banks' losses were included in earnings
numbers.
The
ETF Profit Strategy Newsletter's conclusion was simple and straight to the
point: 'Buying at current prices with the expectation of long-term gains is
almost certain to deliver despair and tears.'
Proceed With Caution
P/E
ratios or EPS aren't a short-term timing tool and didn't prevent stocks from
rallying since the above analysis was featured in the September ETF Profit
Strategy Newsletter.
Nevertheless,
a major market top was expected. The April 3 ETF Profit Strategy update put it
succinctly this way: 'In terms of resistance levels, the 1,369 - 1,382 range is
a strong candidate for a reversal of potentially historic proportions. Bullish
bets should be watched very carefully, especially once stocks move above
1,356.'
The
Summer 2011 meltdown erased all gains going back as far as December 2009. Yes,
over 18 months of gains were eliminated within a matter of weeks.
Financial Serial Offender
If
Wall Street was subject to the 'three strikes you're out' rule, there wouldn't
be any financial offices in New York. By now it's common knowledge that Wall
Street was overly optimistic in 2007 - right before the financial collapse -
and overly pessimistic at the March 2009 lows - the beginning of a 100% + rally
for the major indexes a la S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI) and
Nasdaq (Nasdaq: ^IXIC).
More
recent financial offenses include Wall Street's ill-advised fascination with
silver in late April. On April 27 the Wall Street Journal ran a front-page
article entitled 'Silver rush spreads to stock market.' The commentary read as
follows: 'The metals are increasingly considered attractive as a permanent
store of value that doesn't diminish like paper currencies.'…’
Congress
budget agency warns panel of economic ills
Nearly 1 in 6 Americans in poverty, Census says
Growth Stocks Look Pricey. Favor Free Cash Firms with glowing growth projections have gotten expensive.
Cisco cuts
long-term sales growth forecast [ And just when I was about to say
that american technology is horrific, overrated but leading the charge higher
on wall street because ‘sell the sizzle’ works better with tech since most
don’t understand it. Actually, american tech at most is ‘different color hula
hoops’! ]
International
alarm over euro zone crisis grows
Why Can't Wall Street Be Honest With The Public?at Forbes [ Let’s not be naïve here … If the public knew even half of the truth, they’d be seeking to ‘hang wall street from the yardarms’, ‘drawn and quartered they would be’, etc.. Yes, ‘hung, drawn and quartered’. If caught while yachting on their yachts on taxpayer dime, they’d be ‘keelhauled’. There is really no limit to the well placed, well deserved antipathy for the frauds on wall street who should be prosecuted, jailed, fined, and disgorgement imposed. ]
Venture capital
veteran Perkins sees danger ahead
These
Wall Street Firms are About to Start Firing People Like Crazy By Business Insider September 04 2011 ( archived file )
Same Alan Greenspan Who Warned Against Budget Surplus Now Warns About Deficit [ Yeah! One of the many symptoms of senile dementia, with a strong measure of incompetence to boot (greenspun has a long history of incompetent missteps which through self-promotion, quid pro quos, and a general ubiquity of pervasive ignorance, has gone unscrutinized and unreported. He’s really been that bad!) ] Mark Gongloff
ETF
Redemptions Highest Since 2008: Report ETF
Trends
The Dow is up
about 190 points, the S&P is up 1.8%, and the Nasdaq is up 2%, after the
Conference Call to Save the Universe ended with all sides agreeing that Greece
should never leave the eurozone and was doing what it could to get its next
bailout fix.
Peter Boockvar
at Miller Tabak is not impressed:
Bottom line, Greece
is likely going to get its next 8 billion-euro tranche in 2 weeks but
apparently Merkel, Sarkozy and Papandreou still don’t like paying attention to
the bond market, where the 1 year [note] in Greece is yielding 141.8%,
the 2 year is yielding 74.5% and the 10 year is yielding 25.7%.
This says of course
that the only lifeline the Greek government has is thru the generosity of its
neighbors as they have almost zero chance of paying back in full all that is
owed.
I mentioned Merkel
being in fantasyland yesterday and delusion is the word today that comes to
mind after seeing these Greek headlines.
One would think at
this point that Greece would want a more pronounced debt restructuring in order
to slash their debt instead of playing this game of pretend because they’re
afraid to hurt the feelings of bondholders.’
Zoellick:
World economy in new danger zone
Geithner: Economy In “An Early Stage” Of Crisis Sep 14th, 2011 08:47 by News (RealClearPolitics) — Jim Cramer, CNBC host: “Now let’s talk about the fact that you said the economy is weak. You put out a jobs plan. The New York Times today basically gives its obituary. ‘Tax plan for jobs bill.’ Familiar ring. Meaning the GOP will not back this. Is this dead on arrival?”
Tim Geithner,
U.S. Secretary of Treasury: “Absolutely not. I think that there’s no reason now
for the Congress of the United States not to act to help strengthen growth in
the near term. It’s the conservative, prudent, responsible thing to do. You can
think of it as protection against Europe.”
Cramer:
“Okay.”
Geithner: “You
can think of it as insurance against weaker growth going forward. And you got
to think about the alternatives. If Congress or Washington is incapable of
acting, then policy will be damaging to growth because what you’ll have is a
deeper, steeper contraction in fiscal support than is prudent for an economy at this early stage of the crisis
given the shocks we face. You know, life is about choices. Life is about
alternatives.” [source]
PG View: While this may
be a significant admission on the part of the Treasury Secretary; in reality
this may be the early stage of a crisis within the broader well-established
crisis.’
Risk
Rises at ECB as European Banks Lose Deposits Sep 14th, 2011 07:43 by News (Bloomberg)
S&P
Rally to 1,240 Before Capitulation Zacks
Kevin Cook,September 14, 2011, ‘Fear has not
gripped the market. The VIX, a good proxy for the institutional perception of
risk since it is based on the premium being paid for S&P 500 put
protection, has not made new highs since early August…’
Moody’s cuts two French banks’ ratings Sep 14th, 2011 07:39 by News (Financial Times)
EU warned
of credit crunch threat, French banks hit WROCLAW,Poland/PARIS (Reuters) - European finance
ministers have been warned confidentially of the danger of a renewed credit
crunch as a "systemic" crisis in euro zone sovereign debt spills...
Can the U.S.
Sidestep Contagion with Europe? ETFguide [ Short
answer: NO! ] ‘… SINKING INCOME LEVELS Even without
Europe's problems, the U.S.' reputation for being the land of milk and honey
has been declining. Household income, according to the Census Bureau's annual
report on living standards, fell for the third consecutive year and on an
inflation adjusted basis, incomes have retreated back to levels seen 15-years
ago. Median household income was at a mere $49,445 in 2010. Full-time workers
also experienced sagging incomes, which are lower today than in 1978, after
adjusting for inflation. Furthermore, the poverty rate for Americans increased
to 15.1% of the population. Will Europe's crisis help the U.S. economy end a
multi-decade trend of falling incomes and rising poverty? STILL BLIND TO RECESSION What do
economists have to say about all of this? As a collective group, economists
still deny the existence of an economic recession and their off-the-mark
financial projections show it. Instead of taking a sober and realistic view of
the economy, they see growth, growth and more growth. Economists with the
National Association for Business Economics (NABE) predicted 2.8% expansion for
the U.S. economy in May, but have since scaled back that forecast to 1.7%. For
2012, the group is projecting 2.3% growth. The NABE has been likewise wrong
about the unemployment rate. They were projecting a jobless rate of 8.7% for
the remainder of 2011 and 8.2% for next year. Instead, nationwide unemployment
has remained above 9% and if we account for marginally attached workers along
with unemployed self-employed workers the actual national jobless rate is
probably closer to 20%. It's important to remember the NABE's survey was
completed before the White House's unveiling of a $447 billion plan to
stimulate job growth through (more) government spending and tax cuts. No doubt,
once economists factor in the President's latest plan, they'll re-revise their
economic forecasts bullishly upward to agree with their perennial growth bias…’
Minyanville's
T3 Daily Recap: Market Squeeze Continues, But Was it a Trap? By T3Live.com Sep 14, 2011, ‘After a quick
rinse in the first hour of trading
Wednesday, the squeeze was back on as the SPDR S&P 500 ETF (SPY) surged
4 points (3.4%) from low to high. Weak shorts were forced to cover, and it was
off the races for stocks. But just when it seemed all was well with the market,
a harsh pull-in during the last half-hour of trading erased nearly half of
those gains. We have seen this type of behavior before during this wide range
consolidation in the market, and it typically leads to further downside. A
teleconference between German, Greek, and French leaders today resulted in
assurances that Greece would remain part of the Eurozone, but the same problems
still exist on the troubled continent. There is a crisis of confidence starting
occuring among European banks, with account holders keen to protect themselves
from calamity. This is exacerbating previous capitalization concerns, which
were confirmed this morning when French banks were downgraded. Today's action
could have been another clever ploy to suck in longs while relieving some of the
oversold condition of the market. Risk
is high in both directions in this environment, and, as we have stated
repeatedly over the last two weeks, it's best to keep your trading light at
this stage.’
Flat retail
sales keeps U.S. on recession watch
Another
Absolutely Bonkers Day Mark Gongloff
‘Still spinning? Well, folks, that was the stock market. Hope you enjoyed it.
Just another quiet, totally normal day. Yep, just another day when the Dow
loses 140 points in the last 20 minutes of trading, after soaring as high as
280 for pretty much no fundamental reason.Still, you can’t complain about it
too much. All the good stuff led the market higher today. The S&P’s 1.4%
gain was paced by healthy cyclical stuff like industrials, up 1.75%, consumer
discretionary, up 1.65% and tech, up 1.6%.The Dow transports jumped 2%. The
VIX gave up 6.3%.All good signs, but you can’t shake the nagging feeling that
it can’t be realistic, given how absolutely nuts the action has been lately.
The Treasury market held pretty much steady, with the 10-year note yielding 2%
just about all day.Nobody’s comfortable right now — shorts have got to be
worried, and many got squeezed today.Those of us who are long, meanwhile, are
anxiously checking whether our top has stopped spinning yet.’
Europe's
Outlook Darkens as French Banks Wobble and Austria Delays Greek Bailout at Minyanville
The Daily Market Report Sep
14th, 2011 by News ‘If There Was Any Doubt… (USAGOLD) —
‘The yield on Greek 1-year money is trading in excess of 140% today; up
dramatically from just a week ago when the 1-year yield was still below 100%.
Clearly this is unsustainable and Greece is unquestionably on the verge of
default, save for some massive infusion of funds that will negate Greece’s need
to access global credit markets…’
Huge Surge
in Bank of America Foreclosures CNBC
| Bank of America is ramping up its foreclosure processing.
David
Rosenberg: “It’s Time To Start Calling This For What It Is: A Modern Day
Depression” Zero Hedge
| You know you’re in a depression when interest rates go to zero and there is
no revival in credit-sensitive spending. September 14, 2011
By now only
the cream of the naive, Kool-Aid intoxicated crop believes that the US is not
in either a deep recession, or, realistically, depression. For anyone who may
still be on the fence, here is David Rosenberg’s latest letter which will seal
any doubts for good. It will also make it clear what the fair value of the
stock market is assuming QE3 fails, which it will, and the market reverts to
trading to fair value as predicated by bond spreads. To wit: “If the Treasury market is correct in its implicit
assumption of a renewed contraction in the economy, then we could well be
talking about corporate earnings being closer to $75 in 2011 as
opposed to the current consensus view of over $110. In other words, we may wake
up to find out a year from now that whoever was buying the market today under
an illusion of a forward multiple of 10x was actually buying the market with a
15x multiple.” And since we are in the
throes of a deep depression and a 10x multiple is more than generous, applying
that to $75 in S&P earnings, means that the fair value of the S&P is… we’ll
leave that to our readers.
From Breakfast with Rosie, of Gluskin
Sheff
We just came
off the weakest recovery on record despite the massive amounts of stimulus that
the U.S. government has delivered in so many ways. That the yield on the
10-year U.S. Treasury note is down to 2% already speaks volumes because the
last time we were at these levels was back in December 2008 when the downturn
was already 12 months old. A period like the one we have endured over the past
six months when bank shares are down 30% and the 10- year note yield is down
130 basis points has never in the past foreshadowed anything very good coming
down the pike. If market rates are at Japanese levels, or at 1930s levels, then
it’s time to start calling this for what it is: A modern day depression.
Look, that
entire period from 1929-1941 saw several quarters of huge bungee-jump style GDP
growth and countless tradable rallies in the stock market.
But that
misses the point.
The point
being that a depression, put simply, is a very long period of economic malaise
and when the economy fails to respond in any meaningful or lasting way to
government stimulus programs. A series of rolling recessions and modest
recoveries over a multi-year period of general economic stagnation as the
excesses from the prior asset and credit bubble are completely wrung out of the
system. In baseball parlance, we are in the third inning of this current debt
deleveraging ball game.
You know
you’re in a depression when interest rates go to zero and there is no revival
in credit-sensitive spending.
The economy is
in a depression when the banks are sitting on nearly $2 trillion of cash and
yet there is no lending going onto the private sector. It’s otherwise known as
a ‘liquidity trap’.
Depressions
usually are caused by a bursting of an asset bubble and a contraction in
credit, whereas plain-vanilla recessions are typically caused by inflation and
excessive manufacturing inventories. You tell me which fits the bill today.
When almost
half of the ranks of the unemployed have been looking for a job fruitlessly for
at least six months, you know you are in something much deeper than a garden-variety
recession. True, we can’t see the soup lines; the soup lines are in the mail —
99 weeks of unemployment cheques for over 10 million jobless Americans. Don’t
be lulled into the view that we are into anything remotely close to a normal
economic cycle.
Basically, in a
depression, secular changes take place. Attitudes towards debt, discretionary
spending and homeownership are altered for many years, or at least until the
scars from the traumatic experience with defaults and delinquencies fade away.
That is why we saw existing home sales slide to 15- year lows and new home
sales to record lows despite the fact that mortgage rates have tumbled to their
lowest levels in modern history. There is no economic model that would tell you
that declining mortgage rates should lead to lower home sales.
More fundamentally, in a recession, the economy is
revived by government stimulus. In depressions, the economy is sustained by
government stimulus. There is a very big difference between these two states.
In a recession, everything would be back to a new
high nearly three years after the initial contraction in the economy. This time
around, everything from organic personal income to employment to real GDP to
home prices to corporate earnings to outstanding bank credit are still all
below, to varying degrees, the levels prevailing in December 2007.
Let’s be clear: After all the monetary, fiscal and
bailout stimulus, the economy should be roaring ahead, as would be the case if
the economy were coming out of a normal garden-variety recession. The fact that
there has been no sustained response to all these efforts by the government to
turn things around is testament to the view that this is not actually a
traditional recession at all, but something closely resembling a depression.
That, my friends, is exactly what the bond market is signaling, with Treasury
yields rapidly approaching Japanese levels. Just because the stock market
embarked on a stimulus-led speculative two-year rally, which ended abruptly in
April 2011— does not change that fact.
For all the chatter about whether the recession that
started in December 2007 ended in mid-2009, here is what you should know about
the historical record. The 1930s depression was not marked by declining
quarterly GDP data every single quarter. In fact, the technical recessionary
aspect to the initial period following the asset and credit shock goes from the
third quarter of 1929 to the first quarter of 1933.
I can understand how emotional the debate can get
over whether or not we have actually just stumbled along some post-recession
recovery path or whether or not this is actually a depression in the sense of a
downward trend in economic activity merely punctuated with noise that is
influenced by recurring rounds of government intervention. The reality is that
the Fed cut the funds rate to zero, as was the case in Japan, to little avail.
Then the Fed tripled the size of its balance sheet— again with little sustained
impetus to a broken financial system. Government deficits of nearly 10%
relative to GDP, or double what FDR ever ran during the 1930s, have obviously
fallen flat in terms of providing any lasting impact to the economy.
This is going to sound like a broken record but it
took a decade of parabolic credit growth to get the U.S. economy into this
deleveraging mess and there is clearly no painless “quick fix” towards bringing
household debt into historical realignment with the level of assets and income
to support the prevailing level of liabilities. We are talking about $5 trillion
of excess debt that has to be extinguished either by paying it down or by
walking away from it (or having it socialized). Look, we can understand the
need to be optimistic, but it is essential that we recognize the type of market
and economic backdrop we are in.
The markets are telling us something valuable when
(after a period of unprecedented government bailouts, incursions and stimulus
programs) the yield on the 5-year note is south of 1% and the 10-year is down
to 2%. Instead of contemplating over how attractively priced equities must be
in this environment, market strategists and commentators would bring a lot more
to the table if they tried to decipher what the macro message is from this
price action in the Treasury market. Conducting stock market valuation analysis
based on unrealistic consensus earnings assumptions does nobody any good,
especially when these estimates are in the process of being cut, and at a time
when the Treasury market is telling us we are the precipice of another
recession.
If the Treasury market is correct in its implicit
assumption of a renewed contraction in the economy, then we could well be
talking about corporate earnings being closer to $75 in 2011 as opposed to the
current consensus view of over $110. In other words, we may wake up to find out
a year from now that whoever was buying the market today under an illusion of a
forward multiple of 10x was actually buying the market with a 15x multiple.
How’s that for a reality check?
This augers for capital preservation, defensive
orientation in the equity market and a focus on income-yielding securities;
something we’ve been advocating for some time.’
How
American Taxpayers Could End Up Paying for ECB Liquidity Flood at The Wall Street Journal
How
Greece Is Mocking the Rest of the World [ Well, let’s get real here! There’s plenty to mock in
this world, and Greece is hardly the nation to be doing the mocking. I think
it’s the markets that are mocking the rest of the world’s stupidity for buying
into this false reality / obfuscation / fraud, particularly by way of the now
pervasive worldwide acceptance of the american strategy of currency debasement
which really is a fraud facilitator because it masks to all but the intelligent
few the underlying economic weakness and decline. A simplistic example, though
not perfect, is apropos here: a company sells a product for 1 dollar which
costs 1 dollar to make (assuming arguendo to cover fixed expenses - no profit).
The fed over-printing / creating dollars like mad to the point where it now
takes 2 dollars to render the same purchasing power of 1 dollar when the goods were produced. The
company sells the products for 2 dollars (the previous equivalent of 1 dollar
before debasement). The company is now showing earnings 1 dollar per unit sold,
yet in real terms, they’ve gotten no more than the equivalent of that 1 dollar
per unit. (If you’ve been to the grocery store lately, particularly the last
1-2 months, I’ve found meats, etc., to be up 50-100%, etc.). The same
obfuscating manipulations are applicable to assets generally, and to those
pieces of paper called stocks which are even ‘worse for the wear’ since
churn-and-earn commissions at lightning computerized speed are being subtracted
from this illusory ‘enhanced value’ which in reality doesn’t exist at all. (
Such manipulations from currency translation also provide ‘arbitrage
opportunities’ though similarly largely ultimately subtracted from no real value
being created. ) This is why fraudulent wall street loves the fed’s QE’s and
dollar debasement / over-printing / creating and also why it’s been a dismal
failure and a net negative in real economic terms as seen on main street and in
the desimation of the middle class and growing ranks of the poor. In the
analysis of securities, this would be considered ‘the quality of earnings
factor’ that goes into the assignment of a p/e multiple to the projected
earnings. Sufficeth to say, this is no longer done on wall street in any real
or legitimate fashion if at all. Indeed, it’s a fair statement to say that
security analysis is no longer a ‘practice’ as same was considered, once upon a
time, by value investors / analysts. As set forth by Dave and Cooper, infra,
computerized programmed manipulation at lightning speed has been expedient in
the short run for the wall street frauds but ultimately leads to the inevitable
crash since as I often reiterate:
‘Remember, there is no modern day alchemy that
spins worthless paper into gold except fraudulently for the frauds on wall
street who’ve literally oftimes done exactly that; ‘cashing out’ for hard
currency and gold, precious metals, at everyone else’s expense including main
street. They’re just not that important and represent, like termites eating
away at the nation’s foundation, a drag on the economy, the nation as one would
expect from parasites such as they are’. What
to Expect Next From the Markets
Minyanville Jeffrey Cooper ‘Conclusion:
It looks like a program was run using the least amount of dollars to goose the
indices by focusing on some big cap names like Apple, Amazon, Baidu, IBM, and
Caterpillar, Dave’s Daily:’.. The HAL 9000s have been doing
business as HFTs (High Frequency Traders) launching many buy or sell programs
using complex algorithms which can drive prices on indexes higher or lower in
dramatic fashion. One of their great acts is called "quote stuffing".
It's another illegal activity which the SEC hasn't quite figured out. It's as
futile for them as the illegal fee-driven recent end-of-quarter price
jam-job..’.
Simon Maierhofer, On Friday September 16, 2011, ‘Webster's
dictionary defines gullible as naive and easily duped or cheated'.
On Thursday stocks rallied
after Germany and France gave assurance that Greece will remain a member of the
euro.
Haven't we been down this
road before? How often have there been statements assuring that Greece is fine
or will be fine? An Associated Press article stated this week that: 'Hopes were
raised by the outcome of a teleconference Wednesday between leaders of France,
Germany and Greece.'
Hope worked as propaganda
tool for President Obama three years ago, but hope is not a suitable investment
strategy. Einstein's famous definition of insanity comes to mind: Insanity is
doing the same thing over and over again and expecting different results.
Since the beginning of 2010
there have been five 10%+ sell offs. All of them, with the exception of the
March 2011 decline (Japan earthquake), were blamed on Greece. When stocks
recovered, it was credited to Greece's rigorous adherence to the demanded
austerity measures or new bailout money.
The S&P has made no net
progress since January 2010. After two years of water treading and lessons in
Greek-style financial mockery we have to ask, is Wall Street insane?
Greece's Prime Minister
George Papandreou just pledged that a reform program would be on the top of
Thursday's (yesterday) Greek cabinet meeting. To buy stocks based on a pledge
to push a concern that was initially sold as non-issue but has morphed into a
matter of survival on the top of an agenda does seem insane.
Or should we just consider
the Greeks geniuses? After all, they have figured out how to control Wall Street.
Today it only takes mythical Grecian hope for a hopefully hopeful outcome to
excite Wall Street.
A German saying may
describe Greece's situation. Loosely translated, it goes like this: Once your
reputation is ruined, you may live blatantly uninhibited.
Insane Financial Pain
The Greek saga began over
two years ago, when, on June 23, 2009, Greece's finance minister nonchalantly
disclosed that: 'The rate of growth for the Greek economy in 2009 is expected
to slow more than forecasted. Specifically, it will range around zero and only
return to growth in 2010.' The disclosed budget deficit at the time was $3.1
billion.
Growth obviously didn't
return in 2010, but the following headlines all offered hope in 2010:
ECB member says no bailouts
for Greece
Bulls run on Greece news
Debtors bet Greece won't
spill
Is Greece's crisis over?
Greece contagion fears
unfounded
IMF approved $3.3 billion
for Greece amid impressive fiscal adjustment
If Greece's adjustment was
that impressive, why are we still talking about Greece?
Small Fish in the Debt
Pond
Greece has made quite a
splash but it is just a small fish in the European debt pond. Given some more
time, we'll probably find out that bigger fish make bigger splashes. Next in
line are Portugal, Spain, Italy and France. In terms of size, this is probably
like comparing a goldfish with a tuna.
The Wall Street Journal
reported on Monday that: 'European banks are cutting back on dollar denominated
loans, a troublesome sign of credit contraction at a time when American and European
economies can least afford it.' Credit contraction is the mother of deflation
and Bernanke's most feared enemy.
The Chairman of Societe
Generale, one of France's largest banks, made it a point to state on Monday
that the bank was well funded. Nevertheless, it will be reducing its dollar
denominated debt and lay off workers. When promises conflict actions, we know
that actions speak louder than words. Laying off workers is not confidence
inspiring.
Back in February, the ETF
Profit Strategy Newsletter warned that: 'The debt problem of sovereign European
countries has or is about to turn into a debt problem of super sovereign
entities. The IMF and EU swallowing up massive amounts of debt has not
eliminated debt, it has merely re- shuffled and concentrated it.'
On July 15, I stated via
ETF Profit Strategy Newsletter: 'I know European stocks will tank eventually
but I don't know when. However, I see that the iShares MSCI EAFA ETF (NYSEArca:
EFA
- News)
just sliced below it's 20, 50 and 200-day simple moving averages (SMAs). The
same is true for the iShares MSCI Emerging Markets ETF (NYSEArca: EEM
- News).
The high reward, low risk trade would be to go short EFA or EEM with a stop
loss just above the 200-day SMA Corresponding ETFs are Short MSCI EAFE
ProShares (NYSEArca: EFZ - News)
and Short MSCI Emerging Markets ProShares (NYSEArca: EUM
- News).
What's Next?
Fortunately the European
Union can rely on the smarts of its many capable members. There is former IMF
chief Dominique Strauss-Kahn who'd rather force his will on an innocent
Manhattan hotel worker than enforce strict financial rules on member countries,
Luxembourg's Prime Minister Jean-Claude Juncker who openly confesses to lying
if required by circumstances and a whole slew of officials suffering from
gullibility. You should think twice before betting against the European
financial dream team.
As for me, I rely on
technicals, not on officials, their decisions or the media's interpretation of
it. The technicals I focus on are those of the S&P (SNP: ^GSPC). Not
surprisingly, European stocks have generally moved in the same direction as the
S&P.
The S&P and the SPDR
Euro STOXX 50 ETF (NYSEArca: FEZ - News)
both topped on May 2. The S&P's top came right on queue and within the
1,369 - 1,382 target range of a major market top I've outlined via the ETF
Profit Strategy Newsletter since early 2011.
Unlike the S&P, FEZ
sunk to new lows on September 12. On that day FEZ was 38% below its May 2 high.
Some more near-term damage may be to come for European stocks, but after a 38%
haircut is not the time to double up on short positions.
As far as the S&P (SNP:
^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC) is concerned, new lows
are likely…’
Citi
Cuts S&P 500 Target, Too at The
Wall Street Journal
Lesson
From A Burst Bubble: Dead Men Don't Spend at Forbes ‘The Lehman bankruptcy was a much more
important event than 9/11. It marked the end of a 60-year credit expansion.
Maybe it marked the high water mark for the U.S. empire, too, and the beginning
of the end for the U.S. dollar-based world monetary system.
What’s most
remarkable about this post-Lehman economy is that it is so un-remarkable. The
economy is contracting, and as it contracts, it squeezes jobs, incomes,
spending and prices.
We saw a note
in the press yesterday. It told us that even the wages of sin are falling. The
union that represents waiters and cocktail servers at Atlantic City casinos
says the hourly base has fallen from $8.74 to only $4.50. And tips are
tumbling. Surveys of prostitutes show their earnings are a bit limp, too.
And as people
get squeezed by the financial correction, they gasp for breath. There are now
46.2 million people in America under the poverty line, according to The Los Angeles
Times. That’s the most in 50
years.
But nothing
extraordinary about that either. This is the biggest correction in half a
century too. And you don’t have to look very far to find more confirmation.
That’s why the
10-year Treasury note yield has fallen to the lowest level since right after
WWII, and it’s why nearly half the people looking for a job have been looking
for more than six months. And it’s why a recent poll shows that 72% of Americans
think the nation is going to hell.
Now, finally,
almost everyone realizes that this is not a recession-recovery situation.
Something else is going on. The Financial Times calls it a Great Recession. Richard Koo calls it a
“Balance Sheet Recession.” And David Rosenberg says we should call it what it
really is — a “modern depression.”
But we’ll
stick with our Great Correction label. Because we think there is more going on
here than even a ‘depression’ describes. (About which…more below…).
So far, practically
everything that has happened is about what you’d expect — the predictable,
ordinary consequences of a contraction. There is nothing remarkable about it.
But what’s
this? The Dow is back on the rise. Stock market investors don’t seem to have
gotten the message: this economy is in a contraction. They’re still pricing
stocks as if they thought the underlying businesses would grow. But companies
don’t add sales or profits in a contraction.
At least gold
investors seem to have a better idea of what is going on. They sold the yellow
metal. The price of the GLD is dropping.
And the bond
market too has its feet on the ground. The yield on the 10-year note is only
2.08%. That is a level consistent with a Japanese-style slump…
No surprises
here. But what if there were more going on than a simple financial
correction…even a correction of a 60-year credit expansion? What if the Great
Correction were greater than we thought? More ambitious, more aggressive and
more dangerous?
In the space
of the last 500 years the human population grew approximately 1000%. If it were
a financial chart, you’d look at it and think — ‘uh oh…it’s a bubble.’
What if we
were approaching a correction?
Reuters
reports that the population of Japan is falling like a stone. Some 20 million
Japanese are expected to disappear in the next 30 years.
Declining,
graying populations are not what you need for economic growth. Old people don’t
spend much. Dead people spend even less.
As a result,
the economy shrivels up like a 90-year-old. In Japan today about the only
business still growing is the funeral business. People spend $157 to rent cold
rooms, where they can store their loved ones while they await a spot at the
crematorium. No kidding. Here’s Reuters:
Annual deaths are
expected to peak at 1.66 million in 2040 as the bulk of the nation’s baby
boomer generation expires. By then, Japan’s population will have shrunk by
around 20 million people, an unprecedented die off for a nation neither at war
or blighted by famine.
Dead Men Don’t Spend
by Bill Bonner originally appeared in the Daily Reckoning. ‘
ETFs
have potential to become the next toxic scandal Sep 19th, 2011 News (The Telegraph) — Back in April,
the Financial Stability Board (FSB), an international super-regulator, wrote a
prescient if less than catchily-titled paper “Potential financial stability
issues arising from recent trends in Exchange Traded Funds (ETFs)”.Its central
warning – that ETFs are not the cheap and transparent vehicles the marketers
would have us believe – was spot on. When UBS’s $2bn black hole hit the screens
on Thursday, no one who read the FSB report was surprised to see the words ETF
and rogue trader in the same sentence…around half of the ETFs in Europe today
do not match the index they are designed to track by holding all of its
constituent shares. Unlike the plain vanilla “full replication” ETFs which do, 45pc of the market is in the form of so-called
“swap-based” ETFs which instead use derivative agreements,
often with investment banks, to simulate the performance of the underlying
assets. Derivative trades add a second layer of uncertainty to the unavoidable
ups and downs of the market, the counterparty risk that the organisation on the
other side of the contract might go bust. Even worse, the provider of the ETF might sometimes be a part of
the same organisation as the derivatives desk carrying out the swap…For
reasons which I’m not sure I could explain even if I had the space, it is possible for the number of shares sold short in
an ETF to massively exceed the actual number of shares available.
[source]
4 'Invisible'
Forces to Seal the Market's Fate ETFguide Simon
Maierhofer, On Monday September 19, 2011, ‘In 2004,
Daniel Simons of the University of Illinois and Christopher Chabris of Harvard
University conducted an experiment that was as simple as it was fascinating.
If you want to
be part of the experiment, watch this
video before you read any further.
The
Experiment
There are two
groups of three people each. One group is wearing black shirts, the other group
white shirts. The assignment is to watch how many times the players wearing
white, pass the basketball.
If you counted
15, you are correct. But more importantly, did you notice the gorilla? While
you were counting passes, a woman dressed in a gorilla suit walked slowly across
the scene, stopped to face the camera and thumped her chest.
Half of the
people watching the video with the intent of counting passes did not see the
gorilla. The experiment illustrates the phenomenon of unintentional blindness.
This condition, also known as perceptual blindness, prevents people from
perceiving things that are in plain sight.
For most of
2010-11 Wall Street was so enamored by the magical powers of QE2 that it forgot
about the 800-pound gorilla - the economy that wasn't improving. In fact, the
economy continued deteriorating in plain sight.
There are five
bearish mega trends that may draw stock prices much lower over the coming
years. Here are the five mega trends (and what will make stocks rally in
between).
U.S.
Deficit
For a moment,
take a mental journey with me back in time. We are now in early 2008. The major
indexes a la S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI), and Nasdaq (Nasdaq:
^IXIC) are slowly coming off their all-time high and the VIX (Chicago Options:
^VIX) is reflecting some complacency before the collapse of Lehman Brothers
hits the news.
Unbeknownst to
most, the perfect financial storm is brewing. Once the storm hits, it is much
worse than anyone expected. But, the eventual damage is limited. Why? Because,
the government steps up and does what it takes to prevent the financial system
from failing.
Today has the
feel of early 2008. Another perfect storm may be brewing. Will the government
be there to do what it takes to support 'too big to fail?' No! In 2008
financial companies were in trouble. In 2011 entire countries (look at Europe
and the U.S.) are struggling to escape the grip of delinquency.
A
Decelerating Generation
Starting in
2011, more than 10,000 baby boomers a day will turn 65, a pattern that will
continue for the next 19 years. This dry humor cartoon encapsulates the problem
retirees' face today:
Two older
gentlemen are having a drink. One says: 'As a Baby Boomer, I never thought the
boom would be the sound of my retirement accounts collapsing.' He'd like to sip
on a nice Scotch while enjoying a steak, but has to settle for water and free
bread sticks at Olive Garden.
Most retirees
still haven't recovered from the lost decade. Let's make the term lost decade
more personal. A 55 year old with $100,000 in his retirement account at the
beginning of the year 2000 and a 6% projected rate of return, would have
$201,419 today.
The S&P
trades 20% below its 2000 level. Courtesy of the lost decade, that $100,000 in
the year 2000 has turned into $80,000 today (perhaps less if invested too
aggressively). In other words, many retirees may have to get by on less than
half of their expected nest egg. In addition, their home, rather than being an
asset (many considered it an ATM a few years ago), has turned into a liability.
It doesn't
take much imagination to see that strapped retirees are bad for economic
growth. When the focus is on survival rather than pleasure, sectors like
technology (NYSEArca: XLK
- News), retail (NYSEArca: XRT - News), and consumer discretionary
(NYSEArca: XLY - News) suffer.
In addition,
baby boomers that have been buying stocks for decades (think of all the 401k
money) are now turning into sellers of stock.
Low
Interest Rates
Low interest
rates are great for the U.S. government because it reduces debt payments on
Treasuries and businesses wanting to expand. Unfortunately, businesses don't
feel like expanding or even hiring and for pretty much everyone else low
interest rates are negative.
Some try to sell
the idea that low interest rates are good for stocks (NYSEArca: VTI - News) because money will flow
from low interest bonds into stocks in an effort to get a better return.
The chart
below plots the Nikkei against Japan's version of the discount rate. The
discount rate has been below 1% since 1995. At the same time the Nikkei has
dropped from above 20,000 to below 10,000. Much of this happened during a
raging global bull market. Imagine what a global bear market can do to U.S.
stocks.
https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20japan%20discount.gif
Low interest
rates are a double negative because they reduce available spending for retirees
who need to get as much income as possible to survive.
Coming to
a Head
The above
three bearish trends were highlighted in detail in various 2011 ETF Profit
Strategy Newsletters. Due to those, and other mega trends, the Newsletter has
been expecting a major market top.
For much of
2011 however, the expectation of a major market top was postponed until the
ideal target range was reached. The April 3 ETF Profit Strategy update included
a precise range for a major market top: 'In terms of resistance levels, the
1,369 - 1,382 range is a strong candidate for a reversal of potentially
historic proportions. '
Why was
S&P 1,369 - 1,382 a candidate for a reversal of historic proportions? The
chart below, published by the ETF Profit Strategy Newsletter in March and many
times since, has the answer.
https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20M%20pattern.gif
What you see
is a giant M, or head and shoulders top. The right shoulder was made up of the
parallel trend channel that connects the 2002 and 2009 low, with the 2000 high.
In April/May the upper line of the trend channel ran through 1,377. Additional
resistance was provided by Fibonacci levels at 1,389 and 1,369.
On May 2, the
S&P briefly spiked as high as 1,370.58 before retreating and eventually
dropping 18% in twelve trading days (July 25 - August 9). Once the S&P
dropped below the 200-day SMA it entered free fall territory…’
Stock-ECRI
Disconnect Suggests More Downside at
The Wall Street Journal Oddly
Cheery Greek Pronouncements, Part Deux at
The Wall Street Journal Greek
Finance Ministry Sends Oddly Cheery E-Mail at The Wall Street Journal Apple Hits New High (Update1)
[ This manipulated programmed trade to froth markets is a crash in the making –
sell at these ridiculous levels / take profits! ] Stocks cut
losses on hopes for Greece
Analysis:
Japan's lost decade still a risk for U.S. economy Behind the
poverty numbers: real lives, real pain Market Havoc and Threats to Your Pension
International Forecaster | We have warned over and over again that government
was going to come after your private retirement funds. US taxpayers could be on hook for Europe
bailout MSNBC | The U.S. is coming to Europe’s financial rescue.
Market
Recap: S&P Downgrades Italy, Housing Starts Tumble, Markets Wait on
Bernanke Wall St Cheat
Sheet September 20, 2011, Markets closed mixed on Wall Street today: Dow +0.07%
, S&P -0.17% , Nasdaq -0.86% , Oil +1.39% , Gold +1.65% .
On the
commodities front, Oil climbed to $86.89 a barrel. Precious metals also
climbed, with Gold rising to $1,808.30 an ounce while Silver climbed 1.95% to
$39.93 an ounce.
Hot Feature: European
Central Banks Are Hungry for Gold
Today’s
markets were mixed because:
1) Italy.
Standard & Poor’s cut
Italy’s credit rating late Monday by one level to A from A+, citing weak
economic growth and criticizing Rome’s response to the debt crisis. Italian
Prime Minister Silvio Berlusconi responded, saying that the move was influenced
by “political considerations” and media stories rather than economic reality.
Markets quickly shrugged off the news, with major indices in Italy, Germany,
and London all opening higher this morning.
2) Bernanke.
Goldman Sachs provided a preview of what investors could see tomorrow from the Federal
Reserve, saying there is a “high probability that the FOMC will announce
further easing steps at the conclusion of this week’s meeting.” Goldman went on
to say that Operation Twist looks “very likely” and that, “As a complementary
measure, we also expect that the committee will announce a cut in the interest
on excess reserves (IOER) rate to 0.1% from 0.25%, although this is a much
closer call. An IOER cut would lower market interest rates a small amount and
could aid communication.” The expectation of good news buoyed markets despite a
day full of negative or at least neutral economic data, and had the major
indices climbing high in mid-day, though they’ve since declined toward more
reasonable levels, given that the IMF announced today that it had lowered its
global economic forecast for 2011 and 2012, with growth in Europe and the U.S.
stalling.
3) Housing.
Both housing
starts and completions declined in August from already depressed numbers,
according to a monthly report by the Department of Urban Housing and
Development, in conjunction with the U.S. Census Bureau. However, building
permits increased last month, which means more projects are likely to start
within the next six months. The news had building stocks climbing higher,
including Toll Brothers , D.R. Horton , KB Home , PulteGroup , Hovnanian
Enterprises , and The Ryland Group all outperforming the major indices.
BONUS: IMF Downgrades
Global Economic Outlook ‘
30
Signs That The U.S. Economy Is About To Go Into The Toilet The Economic Collapse
| If you think the U.S. economy is bad now, just wait for a few months.
The insiders have vanished.
Chief executives. Board members. The head honchos. The people who know. Just a few weeks ago, they were out in
force, buying up shares in their own companies with both hands. No longer. They’ve disappeared. Almost
overnight. “They’ve
stopped buying,” says Charles Biderman, the chief executive of stock market
research firm TrimTabs, which tracks the data.
For some reason, this almost always starts happening
before a crash. So obviously this is not a good sign.
A lot of normal investors have been pulling large
amounts of money out of stocks as well. The following is from a report in
the Financial Post....
Investors have pulled more money from U.S. equity funds since
the end of April than in the five months after the collapse of Lehman Brothers
Holdings Inc., adding to the $2.1 trillion rout in American stocks.
About $75 billion was withdrawn from funds that focus on shares
during the past four months, according to data compiled by Bloomberg from the
Investment Company Institute, a Washington-based trade group, and EPFR Global,
a research firm in Cambridge, Massachusetts. Outflows totaled $72.8 billion
from October 2008 through February 2009, following Lehman’s bankruptcy, the
data show.
Are you starting to get the picture?
Not only that, but a third very troubling sign is
that an extraordinary number of bets have been placed against the S&P 500. As
I noted the other day, if there is a stock market crash in the next few
weeks, somebody is going to make a ton of money....
We are seeing an amazing number of bets against the S&P 500
right now. According to CNN, the number of bets against the S&P 500 rose to the highest level in a
year last month. But that was nothing compared to what we are seeing
for October. The number of bets against the S&P 500 for the month of
October is absolutely astounding.
Somebody is going to make a monstrous amount of money if there is a stock
market crash next month.
It doesn't take a genius to see all the dark
financial clouds that are gathering on the horizon.
And all of the bad news that is constantly coming
out of Europe is certainly not helping things. For example, yesterday
S&P slashed the credit ratings of
seven different Italian banks.
Credit downgrades have become so frequent that we
hardly even notice them anymore. Pessimism is everywhere right now. Suddenly it
seems like almost everyone is predicting that another "recession" is
coming....
Portfolio
Insights by Brett Arends Sept. 21, 2011 Brett Arends, MarketWatch BOSTON
(MarketWatch) — ‘Something ominous is happening on Wall Street, but nobody has
noticed. The insiders have vanished. Chief executives. Board members. The head
honchos. The people who know. Just a few weeks ago, they were out in force,
buying up shares in their own companies with both hands. No longer. They’ve
disappeared. Almost overnight. “They’ve stopped buying,” says Charles Biderman,
the chief executive of stock market research firm TrimTabs, which tracks the
data. “Insiders aren’t buying this rally.” Insider stock purchases, which
surged above $100 million a day in the market slump last month, have now
collapsed to just $13 million a day. Meanwhile the ratio of insider sales to
purchases has skyrocketed. Today insiders are dumping $7 in stock for each $1
that (other) insiders are buying. That’s a worrying ratio. Six weeks ago the
amounts of purchases and sales were about equal. It’s the kind of news that
should give investors pause. What insiders do with their own money is one of
the stock market’s best barometers. After all, who better than company
executives know their own order books? Who knows the conditions in their
industry better? You find insiders typically buying heavily at the market lows
— they did in 1987, in 1998, and they did during the financial crisis in
2008-9. (You also typically find them cashing out big-time at the peak). ‘
MARKETS
DESTROYED AROUND THE WORLD: Here's What You Need To KnowBusiness Insider
The Real
Reason Behind the Market's Meltdown Simon Maierhofer, On Thursday September 22, 2011,
11:01 pm
Was it just
bad timing or did the Fed cause this two-day market meltdown?
Since Bernanke
spoke yesterday the S&P (SNP: ^GSPC) lost as much as 80 points, nearly 7%.
The Dow Jones (DJI: ^DJI) shed about 700 points, the Nasdaq (Nasdaq: ^IXIC) 150
points and the financial sector (NYSEArca: XLF - News) tumbled 7.7%. The VIX
(Chicago Options: ^VIX) soared over 25%.
No doubt the
Fed seems to have lost the touch that made QE2 a temporary 'success' (if
success is measured exclusively by stock prices).
Bad
Timing
But quite
frankly, the timing of 'Operation Twist' was just plain bad. The market's fate
was sealed even before Bernanke stepped on stage. Already back in August the
ETF Profit Strategy Newsletter highlighted seven reasons why new lows are
likely between September 6 and September 28.
In a special
pre-FOMC announcement update on Tuesday night, the Newsletter confirmed its
bearish outlook and recommended to short the S&P as soon as it breaks below
1,191. Why 1,191? Because it was important support composed of this week's
pivot, Fibonacci support, the 20-day moving average and Monday's low.
Here are six
reasons why new lows were likely and where and why stocks will bounce.
A Major
M-Pattern (or Head-and Shoulders) Top
Since early
2011 the ETF Profit Strategy Newsletter has been expecting a major market top.
The chart below shows a bearish multi-decade M-pattern (or sloppy head-and shoulders).
The key question was were the right side of the 'M' would end.
The chart
below was featured in an April 5 update along with the following commentary:
'In terms of resistance levels, the 1,369 - 1,382 range is a strong candidate
for a reversal of potentially historic proportions.'
https://www.etfguide.com//contributor/UserFiles/8/Image/5%20-%20April%203%20TF.jpg
RSI
Divergence
There is one
striking similarity between the October/November 2008, March 2009 and
May/June/July 2010 lows. In all three cases the S&P reached an initial
price low accompanied by an RSI (relative strength indicator) low. However, a
more lasting low was not reached until the S&P recorded a new price low
against higher RSI reading.
In other words
there had to be a divergence between the S&P and RSI. The S&P and RSI
both recorded their initial low on August 9. Now we are waiting for a new
S&P low while RSI stays above its August 9 reading.
Seasonality
August,
September, and October is the most bearish stretch of the year. September and
October sport negative performance even in the pre-election year.
Sentiment
From S&P
1,370 on May 2 to S&P 1,258 on June 16, the S&P shed 112 points and
sentiment measured by Investors Intelligence (II) and the American Association
for Individual Investors (AAII) turned deeply bearish. The June 16 ETF Profit
Strategy update took that as a queue to buy (long positions were
closed at S&P 1,340).
From S&P
1,353 on July 7 to S&P 1,102 on August 9 the S&P lost 251 points, yet
the II sentiment poll registered the second most bullish reading since the
first week of May. AAII and II polls are often considered the 'dumb money.' If
the 'dumb money' views last Wednesday's low as a buying opportunity, the 'smart
money' should be suspicious.
VIX
Pattern
If you have
the charting capabilities, take a moment and plot the VIX (Chicago Options:
^VIX) against the S&P for the month of September - November 2008 and April
- July 2010. If you don't have the time you may simply look at the chart below.
https://www.etfguide.com/images/PDNewsletter_Images/yahoo%20-%20vix%20pattern.gif
What What
we've seen in 2008 and 2010 is that a VIX peak did not coincide with the
S&P bottom. The S&P bottom actually occurred against a lower VIX
reading. If this pattern continues, we will see lower lows.
The August 14
ETF Profit Strategy Newsletter update includes a detailed analysis of the VIX
pattern, along with the time frame and target level for an expected turn.
The
Script
Via more or
less accidental chart surfing, I found a striking resemblance between the 2007
market top and the May 2011 top. This moved me to state in the July 17
Profit Strategy update that:
'There is a
similar trend line and a triple top above the trend line. A break below that
trend line could be a precursor of bad things. Next week the trend line will be
at about 1,262.'
The S&P
sliced through that trend line on August 4 and fell an additional 12% within
the next four days. A deeper analysis of this chart parallel also suggests new
lows.
The
Outlook
The market's
performance over the last couple of days has validated the studies above. We
are now waiting for new lows…’
Market
Recap: China Falters, Banks Exposed, and Fed Causes Market to Plummet Wall St. Cheat Sheet, September 22, 2011, Hot Feature: U.S. Home Prices Down 3.3%Today’s
markets were down because:1) Fed. Markets plummeted today following dire
remarks on the economy from the Federal
Reserve. The news of slowing growth also pushed most commodities lower,
including oil, gold, and silver, while only Treasuries moved higher as
investors sought one of the few safe havens left. The Fed’s announcement of
Operation Twist yesterday failed to instill much confidence in the economy, and
few think the measures will be enough to reverse the economic downswing over
the last few months. After all the anticipation leading up to the Fed’s
decision, investors were left with the understanding that not even the Fed has
the power to turn this thing around. 2) China. Through all the economic turmoil
that has engulfed the globe over the last few years, China has been the one
shining beacon of progress and growth. However, despite the fact that China’s
economy is still on track to grow 8.5% to 9% this year, its manufacturing
sector has been contracting for the last three months now, according to HSBC’s
manufacturing PMI. There was a lot of concern over China because heretofore
it’s been the one pocket of unstoppable strength in the global economy,” said Paul Larson, chief equity strategist at Morningstar. “If
that stops and China becomes a drag on worldwide growth, it could have big
implications here in the U.S.” News that China might not be as infallible as
once though had a host of popular Chinese stocks plummeting today, including
shares of Sohu.com , Youku.com , RenRen , Sina Corp. , and Baidu.com , which
fell nearly 11% today.3) Banks. After Moody’s downgraded some of the nation’s
top banks yesterday, investors are growing worried about the financial
industry’s exposure to the sovereign debt crisis in Europe. Not only were Bank
of America , Wells Fargo , and Citigroup continuing to slide today after
Moody’s downgraded them, citing the unlikelihood that the government will step
in should the financial sector find itself in a similar situation to that of
2008, but the entire sector fell on concerns that Moody’s was right. Barclays ,
JPMorgan , Goldman Sachs , and Morgan Stanley were all heavy drags on the
markets today. European banks were trading sharply lower for the same reason,
with France’s SocGen and Credit Agricole falling 9.5% each, while Deutsche Bank
and Credit Suisse also underperformed the markets. BONUS: Jobless
Claims Continue in the Wrong Direction ‘
Federal
Reserve's Twist of Fate Forecasts a Waterfall Into Early Octoberat MinyanvilleEurope
debt crisis, dire economic reports cause Dow plunge Sep 22nd, 2011 News (HousingWire) Live
Blog: Market Meltdownat The Wall
Street JournalEU
officials expect Greece to default but stay in eurozone London Telegraph |
There is a growing consensus among EU diplomats and officials that Greece will
default while remaining inside the eurozone.Depressed
As A Nation? 80 Percent Of Americans Believe That We Are In A Recession Right
Now The Economic Collapse | According to a brand new Gallup poll, 80
percent of Americans believe that we are in a recession right now. Soros:
US Is Already in Double-Dip Recession CNBC.com | Soros said he believed the
United States was already experiencing the pain of a double dip recession.
Fed vs
Market - Will Selling Pressure Overpower Operation Twist? Simon
Maierhofer, September 23, 2011, The Fed just
unleashed a $400 billion package to boost the economy. To say the market didn't
react favorably would be an understatement.
The Financial
Select Sector SPDR (NYSEArca: XLF
- News) greeted the program
with an 8% haircut. The S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq
(Nasdaq: ^IXIC) fell 4-6%. On the bright side, the yield of the 10-Year T-Note
dropped another 0.242%, from one all-time low to the next.
Will
'Operation Twist' buoy stocks or will the market overpower the Fed's
half-hearted effort? Believe it or not, but after some more suffering, I
believe the Fed will eventually reap some (temporary) credit for this stick
save (more about that in a moment).
Bernanke
Must be Surprised
In his
February 9, 2011 speech before the U.S. House of Representatives, Ben Bernanke
was quick to take credit for the results of QE2: 'Since then (the onset of
QE2), equity prices have risen significantly, volatility in the equity market
has fallen. All of these developments are what one would expect to see when
monetary policy becomes more accommodative.'
On February 9,
the S&P closed at 1,320, the VIX (Chicago Options: ^VIX) at 15.87. Today
the S&P is 13% lower while the VIX has soared a stunning 160%. Bernanke's
credibility has tumbled somewhere between 13 and 160%.
Contrary to
Bernanke's upbeat outlook, the ETF Profit Strategy Newsletter published the
following chart just a week after Bernanke's comfy cozy assessment of QE2 and
the stock market's reaction.
https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20M%20pattern.gif
The chart
shows a giant bearish head-and shoulders or M-pattern. At the time, the
Newsletter projected a market top at 1,382 - 1,385. The April 4 ETF Profit
Strategy update refined the target range: 'In terms of resistance levels, the
1,369 - 1,382 range is a strong candidate for a reversal of potentially
historic proportions.'
Sleep in
the Bed You Made
Operation
Twist - the Fed's latest concoction - became necessary because QE2 didn't
stick. Banks (NYSEArca: KBE
- News) graciously accepted
the generous $600 billion donation, but despite the huge cash infusion, the
Banking Index today trades 22% below its November 3, 2010 prices, when
QE2 was launched.
Will
Operation Twist be More 'Successful' than QE2?
QE2 created
$600 billion out of thin air while Operation Twist merely changes the
maturities of the Fed's existing balance sheet.
Over the next
nine months the Fed will sell $400 billion worth of short-term (3 years or
less) Treasuries and use the proceeds to buy maturities ranging from 6 - 30
years. Maturing mortgage-backed securities (MBS) will be re-investing in MBS,
not in Treasuries.
If you are
wondering how this approach of transferring money from the left to the right
pant pockets makes a difference, you've already found the reason for the post
FOMC-announcement meltdown.
Wall Street
considered the proposal half-hearted and the stated goal of lowering long-term
interests unnecessary, especially considering that the yield on the 10-Year
T-Note is already at a multi-decade low.
Range
bound Trading with a Purpose
From July 21 -
August 8 the S&P lost nearly 250 points. Nevertheless, the August 8 TF made
clear that there will be another low and stated that: 'One of the conditions
for a market bottom is lower lows against improving breadth. Breadth was
horrible today and no lasting low was reached. What generally tends to happen
within a major sell off is a period of time where stocks take a breather
followed by the final leg down. This final leg sports lower prices but
improving breadth.'
Support at
1,121 held and the S&P was due for a 'breather period.' The back and forth
of the recent weeks qualifies as just that. It also shows that there's a method
behind the market's madness.
Range bound
trading lulls investors into a false sense of security and makes traders gun
shy before pulling the proverbial rug out from underneath them.
In a special
Tuesday's pre-FOMC decision update, the ETF Profit Strategy Newsletter pointed
out that the down side risk remains much bigger than the up side potential and
that the direction for XLF is down as long as it doesn't move above the 20-day
SMA at 12.70 and last week's high at 13.04.
Connoisseurs
of technical analysis will find the following chart of interest. The update
brought out that percentR (a measure of relative strength) moved above 80 for
the first time since late July. The chart below (featured in Tuesday's update)
showed what happened the last two times percentR moved above 80 - stocks
dropped.
https://www.etfguide.com//contributor/UserFiles/8/Image/yahoo%20-%20spx%209%2020%2011.gif
The actionable
recommendation given was for aggressive investors to go short with a break
below 1,191. Selling accelerated as soon as the S&P broke through the
support at 1,191 and didn't stop until the S&P reached support at 1,121.
There were
seven other reasons why I expected new lows (see August 14 and 21 update for a
concise summary), one of them is seasonality. August, September, October is a
bearish time of year, even during Presidential election years…’
Are We
Japan Yet? No! But Closer!
More
Pain Is Coming To Equities
http://regator.com/p/253227580/more_pain_is_coming_to_equities By Penguin
Capital Markets: ‘Run! That's what equity markets are screaming right now, and
I have to agree. While markets have already dropped in reaction to the poor
FOMC announcement, we've only scratched the surface of what could be another
free-fall in stocks. The already significant drop in copper is a leading indicator
that the recession. Look how the metal has just recently lost all its price
momentum as of August.’
[video]
Preservation of Capital Is (and should be, since much worse to come, the
primary) Priorityat TheStreet.com
Taken
to Task: ‘Free Market’ Champions Go Begging for Bailouts (Reprise)The Daily Ticker Aaron Task ‘Financial
markets tumbled this week amid disappointment the Fed didn't do more and
general disgust with the lack of action from European policymakers.
Which brings
us to another installment of Taken to Task.
For all the
talk about how traders love the free market and believe in the principles of
unfettered capitalism, the folks on Wall Street can't seem to get enough of
government bailouts.
After Ben
Bernanke pledged to spend $400 billion on Operation Twist this week, I heard
many more complaints about how the Fed didn't do ENOUGH vs. any chatter about
how they've gone too far, are out of bullets and pushing on a string. That's so
"first-half of 2011" before the stock market turned south, that is. (See: Fed
Action Fails To Boost Animal Spirits: "Marginally Helpful," Says
Former Fed Governor)
It seems the
bold champions of free markets on Wall Street only like laissez faire capitalism when the markets are RISING.
This weekend,
traders are hoping for some plan — ANY plan — to deal with Greece, whether it
comes from the ECB, the IMF, the World Bank, Poseidon or Zeus. But nobody seems
to be wishing to just let the chips fall where they may. Haircuts for
bondholders? Write-downs for banks? Egads! The pain must be avoided at all
costs! (See: Apocalypse
Now? Markets Tumble as Europe Approaches "Tipping Point")
Of course, a
generation of traders has been conditioned to believe the Fed — or some other
institution — will come riding to their rescue if things get really dicey, or
even just a little bit uncomfortable. So we can't blame them for taking on too
much unhedged risk and (not-so) secretly hoping for yet another bailout, can
we?
Just like
there are no atheists in foxholes, the really are no libertarians on Wall
Street. The only ideology traders believe in is making money and if that means
more government intervention, bring it on! Someday, maybe, we'll get back to
something approaching a free market. But if such a thing ever really existed,
it was a long time ago in a galaxy far, far away.’
China
Slowdown Pushes Chinese Internet Stocks and VIEs Off a CliffWall St. Cheat Sheet
Moody's downgrades 8 Greek banks
ATHENS, Greece (AP)
European
and US Economies Teetering on Weak Policy, Leadership at Minyanville Kerr Sep 23, 2011
‘Keeping up with today's financial and economic news is akin to watching a typical
reality TV spot.’
Global economy pushed to the brink Sep 23rd, 2011 News (Financial Times) — Time is running out to find a solution to the eurozone crisis and prevent another global recession, finance ministers warned on Friday, as they hinted that discussions were under way to boost the firepower of European rescue funds.Financial markets experienced another day of intense volatility as investors struggled to interpret an emergency statement from the Group of 20 leading economies, which met on the sidelines of the International Monetary Fund and World Bank meetings in Washington.…Gold continued to slide sharply and US oil prices traded below $80 a barrel, their lowest in more than a year. Shares rallied modestly in Europe and the US, accompanied by selling in government bonds and the dollar.[ http://www.ft.com/intl/cms/s/0/9bedaa82-e603-11e0-960c-00144feabdc0.html#axzz1YUm6X1iD ]
CME
raises margins for gold, silver, copper Sep 23rd, 2011 News
(MarketWatch) — The CME Group CME +0.00% , the parent company of the New
York Mercantile Exchange, on Friday raised margin requirements for some gold,
silver and copper futures contracts. Margins are money investors must put up to
be able to trade and hold futures contracts. Initial requirements for gold’s
benchmark contract rose 21% to $11,475 per contract, from $9,450 and
maintenance margins climbed to $8,500 from $7,000 per contract. Initial
requirements for silver’s benchmark contract rose 16% to $24,975 per contract,
from $21,600 and maintenance margins climbed to $18,500 from $16,000 per
contract.[source]PG View: It is likely that
expectations of this margin hike factored into today’s sell-off.
Gold
Plunges More Than $100 as Investors Sell Sep 23rd, 2011 News (Bloomberg) — Gold fell, capping
the biggest two- day plunge since 1983, on investor sales following routs in global
equity and commodity markets.More than $3.4 trillion has been erased from
equity values this week, sending a global measure of shares into a bear market,
on concern that governments are running out of tools to avert a recession. The
Standard & Poor’s GSCI Index of 24 commodities fell to a nine-month low
today. Gold has dropped 15 percent since reaching a record $1,923.70 an ounce
on Sept. 6.“Gold has become the source of liquidity for global margin calls,”
said Michael A. Gayed, the chief investment strategist at Pension Partners LLC.
“Also, deflationary pressures are acting on gold.” PG View: We’ve seen very strong
physical buying interest on this retreat. Savvy investors know from experience
that deleveraging breaks provide buying opportunity. The dollar and bonds may
be up for now, but most realize that they aren’t the true safe-havens that they
once were, and such allocations are therefore unlikely to prove sticky.
Dow Sinks 6.4% for Week
Sep 23rd, 2011 News
(Wall Street Journal) — Fears of a possible Greek default and the U.S economy
dipping back into recession pushed the Dow Jones Industrial Average to its
worst weekly decline since the depths of the financial crisis.Stocks edged
slightly higher on Friday, as a pledge from global officials to maintain
financial stability alleviated some investor anxiety. The slim gains, however,
failed to overshadow the market’s poor weekly performance.The Dow edged up
37.65 points, or 0.4%, to 10771.48. But the index, which plunged 675 points on
Wednesday and Thursday, finished the week down 6.4%, its worst performance
since the week ended Oct. 10, 2008. [source]
G20 vows
support for the global economy Sep 23rd, 2011 News (Financial Times) — The Group of
20 leading economies pledged a “strong and co-ordinated” effort to stabilise
the global economy in an attempt to calm tumbling equities markets spooked by
fears of recession in the eurozone and a gloomy economic outlook in the
US.Bowing to pressure from investors to take action, finance ministers from the
G20 economies said in a communiqué issued late on Thursday that they would stop
the European debt crisis from deluging banks and financial markets, and take
the necessary steps to bolster the eurozone’s rescue fund and assist banks to
boost capital reserves in line with new global regulations. The statement
followed a day in which the equity markets suffered some of the biggest falls
since the collapse of Lehman Brothers in 2008, as investors rushed to safety in
a widespread sell-off.“We commit to take all necessary actions to preserve the
stability of banking systems and financial markets as required,” the group said
in a statement. “We will ensure that banks are adequately capitalised and have
sufficient access to funding to deal with current risks and that they fully
implement Basel III along the agreed timelines.”[source]
Dollar gains
driven by flight to safety Sep 23rd, 2011 News (Financial Times) — Risk aversion in equity and
commodities markets drove the dollar higher this week as hopes for economic
recovery were dealt another blow by the Federal Reserve’s latest assessment of
US growth.The dollar climbed across the board on Thursday as investors sought
safety and global equity markets tumbled with other risk assets, including
industrial metals and oil. The latest catalyst for investors to flee for cover
was the Fed’s statement on Wednesday that there were now “significant downside
risks to the economic outlook”.[source]PG View: Should more accurately say
“perceived” or “relative” safety.
Gold trades under
$1,700, loses 4% Sep 23rd, 2011 News
(MarketWatch) — Gold futures slid below $1,700 an ounce on Friday, losing more
than 4% as turmoil in global financial markets continued and investors rushed
to sell metals positions to raise cash. [source]
New
York Fed re-monetized $0.930 billion in Treasury coupons in today’s QE2.5
operation. Sep 23rd, 2011 News
Morning Snapshot Sep 23rd, 2011 News (USAGOLD) — Gold extended
sharply lower in overseas trading, pushing below the $1700 level for the first
time in 7-weeks, as the global asset rout continues. The dollar remains well
bid, trading near 7-month highs, bolstered by flight out of stocks and out of
the euro.The G20 vowed “strong and co-ordinated” support in their communiqué
late yesterday, saying “We commit to take all necessary actions to preserve the
stability of banking systems and financial markets as required.” However, the
absence of specifics did little to reassure markets. The market now looks to
weekend IMF and World Bank meetings for guidance.Meanwhile, Congress is
embroiled in yet another partisan battle, this time centered on a continuing
spending resolution. The Republican controlled House passed a spending bill
yesterday, but the Democrat controlled Senate has vowed to shoot it down.
Failure to pass a resolution could result in a government shut-down next week.
This is exactly the kind of behavior that promoted S&P to downgrade the US.
• France
business confidence falls to 99 in Sep, below market expectations, vs 105 in
Aug; production outlook tumbles to -29.
• Italy retail sales (sa) -0.1% m/m in Jul, below market expectations of +0.2%,
vs negative revised -0.3% in Jun; -2.4% y/y.’
Don't Call It (Much of) A Comeback at The Wall Street Journal John Shipman ‘US stocks rebounded in a vigorous rally that comes after the market’s worst week in almost three years.It would be disingenuous to suggest these gains were fueled by any real tangible progress on the European debt mess; multiple sharp spikes higher during the day suggest a combination of short covering, end-of-month portfolio window dressing and dead-dog bounce…’
Split opens
over Greek bail-out terms Sep 27th, 2011 15:37 News
(Financial Times) — A split has opened in the eurozone over the terms of
Greece’s second €109bn bail-out with as many as seven of the bloc’s 17 members
arguing for private creditors to swallow a bigger writedown on their Greek bond
holdings, according to senior European officials.The divisions have emerged
amid mounting concerns that Athens’ funding needs are much bigger than
estimated just two months ago. They threaten to unpick a painfully negotiated
deal reached with private sector bond holders in July.…Because of the recent
economic downturn and Greece’s slow implementation of austerity measures,
officials estimate Athens’ funding
needs over the next three years have grown beyond the €172bn forecast this
summer.[source]
PG View: Missed numbers out of Greece? Say it isn’t so. How
far beyond €172 bln are we talking here? Does any number they give have any
meaning? The funding needs when the last deal was cut back 0n 21-Jul where €109
bln, since then Greece’s needs have exploded about 60%…or more! No sane
investor would throw more money into this sinkhole of unknowns.
SHILLER:
House Prices Probably Won’t Hit Bottom For Years Sep 27th, 2011 News
(BusinessInsider) — The July numbers for the most widely followed measure of
house prices, the S&P/Case-Shiller Index, were released this morning.The
numbers weren’t terrible–on a seasonally adjusted basis, July was basically the
same as June–but one of the creators of the index, Professor Robert Shiller of
Yale University, isn’t taking much solace in them.The economy has deteriorated
significantly since July, Professor Shiller observes, and he suspects that the
housing market has followed suit.[source]
Roubini:
U.S. in Throes of Economic Contraction Sep 27th, 2011 News (Bloomberg) — Most advanced
economies are lapsing back into recession while the U.S. is already in the
throes of an economic contraction, according to Nouriel Roubini, co- founder
and chairman of Roubini Global Economics LLC.“The way I see the global economy,
I think we’re entering into a recession again in most advanced economies,”
Roubini said in a panel discussion today at the Bloomberg Dealmakers Summit in
New York. “I think we’re already into one in the U.S. based on the hard and
soft data — same with most of the euro zone, same with the United Kingdom.” [source]
Mark Hulbert, MarketWatch CHAPEL
HILL, N.C. (MarketWatch) [ Of course Mr. Hulbert is correct in pointing out the
folly of what’s causing the meltdown. Indeed, he might even borrow from the
homespun wisdom of the mama of that stellar investigatigative reporter,
formerly of SNL fame, Rosanne Rosanna Dana, who reminds us ‘ It’s always
somethin’ ‘ . Indeed, Rosanne; it is always somethin’… just not the somethin’
that the frauds on wall street et als say it is. The fact is the markets are
grossly over-valued courtesy of a myriad of fraudulent tools; from
computer-prgrammed high-frequency trade churn-and-earn scams, to ever more
worthless funny money, to blatant misrepresentation / fudged numbers, etc.. Will
you be left holding their worthless bag of hot potatoes? Will you be their fool
… again … in this suckers’ market? ] —
‘Greece ate my homework. Not only that, if you believe the financial headlines,
Greece is responsible for almost every financial ill that has beset the
investment arena over the last 18 months. I say it’s time the headline writers
came up with a new story to “explain” what’s happening to the stock market.
Consider
last week, for example, when investors’ concern about a possible Greek default
supposedly caused the Dow Jones Industrial Average DJIA +1.33% to lose 738 points and the combined market
capitalizations of all publicly traded stocks in the U.S. to lose $865 billion.
How could Greece have been the cause of that, when Greece’s total sovereign
debt (counting both government debt and from the country’s monetary
authorities) amounts to $393 billion, according to the International Monetary
Fund? It doesn’t make sense, even if Greece’s debt were completely owed to U.S.
banks — which it most definitely is not.
Blaming
Greece makes even less sense when we focus on more than just the last week.
Since the stock market high this spring, for example, U.S. stocks have lost
approximately $2.5 trillion in market cap. Once again, the prime suspect is
concern over Europe’s debt situation.
Yet
the $2.5 trillion loss is more than twice the total debt (from both the
government and the monetary authorities) of Greece, Spain and Portugal combined
— the three PIIGS countries considered to be most in danger of default.
Why,
then, do so many investment commentators persist in telling the story that
Europe’s debt situation is to blame? Because it’s a convenient and easy explanation
to fall back upon, especially in the face of a market that is otherwise acting
so inscrutably.
How
many of us have the guts to say that we don’t really know why the market went
up or down? Rather than admitting that, we instead tell stories — akin to
Rudyard Kipling’s “Just So” stories, such as the one about how the leopard got
his spots.
Blaming
Greece is only the latest example of this. My perennial favorite is the
oft-used explanation that the market went up (or down) on a given day because there
were more buyers than sellers (or more sellers than buyers). This is just
intellectual laziness, of course: During any trading session there are always
the same number of buyers and sellers.
Investors
need to let Greece rest in peace. That country has enough problems of its own
without being asked to take responsibility for ours as well.’
Unthinkable
Poised to Happen on Wall Street. See Disturbing Charts. (Moneynews) ‘The Aftershock Survival Summit
is a gripping, no-nonsense presentation that’s quickly becoming a financial
beacon in an economic tsunami.
Featuring an exclusive interview with famed economist and best-selling author
Robert Wiedemer, this disturbing presentation exposes harsh economic truths
along with a dire financial warning — a prophetic message that’s spreading
across America like wildfire.
But it’s not just the grim predictions that are causing the sensation; rather,
it’s the comprehensive blueprint for economic survival that’s really commanding
global attention.
It
offers realistic, step-by-step solutions that the average hard-working American
can easily follow; millions have already heeded its warnings and are rapidly sharing
the Aftershock Survival Summit
throughout the Internet. To see it for yourself, simply click
here.
The overwhelming amount of feedback to publicize the presentation, initially
screened for a private audience, came with consequences as various online
networks repeatedly shut it down and affiliates refused to house the content.
“People were sitting up and taking notice, and they begged us to make the Aftershock Survival Summit
public so they could easily share it,” said Newsmax Financial Publisher Aaron
DeHoog, “but unfortunately, it kept getting pulled.”
The controversy stems from direct allegations that the people in Washington
have failed miserably. They include former Federal Reserve Chairman Alan
Greenspan and current Federal Reserve Chairman Ben Bernanke, tasked with
preventing financial meltdowns and keeping the nation’s economy strong through
monetary and credit policies.
At one point, Wiedemer even calls out Ben Bernanke, saying that his “money from
heaven will be the path to hell.”
This wasn’t the first time Wiedemer’s predictions hit a nerve. In 2006, he and
his team of economists accurately predicted the four-bubble meltdown in the
housing, stock, private debt, and consumer spending markets that almost sunk
America.
Regardless of his warnings and survival advice, Bernanke and Greenspan were not
about to support Wiedemer publicly, nor were the mainstream media.
As the warnings went unheeded, and America suffered the consequences, Wiedemer
penned his latest prophetic work, “Aftershock: Protect Yourself and Profit in
the Next Global Financial Meltdown.”
Once again his contrarian views ruffled feathers and just before the book was
publicly released, the publisher yanked the final chapter, deeming it too
controversial for newsstand and online outlets such as Amazon.com.
Despite appearances, “Aftershock” is not a book with the singular intention of
scaring people, explains DeHoog. “The true value lies in the sound economic
survival guidance that people can act on immediately. I was able to read the
original version with the ‘unpublished chapter,’ and I think it’s the most
crucial in the entire book. After contacting Wiedemer, we [Newsmax] were
granted permission to share it with our readers. In fact, viewers of the Aftershock Survival Summit
are able to claim a free copy of it.”
In the Aftershock Survival Summit,
Wiedemer reveals what the publisher didn’t want you to see. Citing the
unthinkable, he provides disturbing evidence and financial charts forecasting
50% unemployment, a 90% stock market collapse, and 100% annual inflation.
“I doubted some of his predictions at first. But then Robert showed me the
charts that provided evidence for such disturbing claims,” DeHoog commented.
Editors Note: The Aftershock Survival Summit shows the exact same charts. See them for yourself. http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1 … ‘
Read more: Aftershock Survival Summit Predicts the Unthinkable
Important: Can you afford to Retire? Shocking Poll Results
Prepare
for Lehman Brothers Part 2 MoneyShow.com
Sep 15, 2011 ‘Three years ago, Lehman collapsed. Now, a new Lehman-like
financial crisis is coming -- this time involving the debt of governments and
European banks.’
Arguments
for Being in the Crash Camp Conor Sen Sep
28, 2011 ‘This has been the sixth-most volatilite September since 1950. The
only years more volatile? 2002, 2001, 1974, 1998, and 2008, years which
included two major stock market bottoms (1974 and 2002), 9/11, Long Term
Capital Management,
and the fall of Lehman Brothers. Despite the crazy volatility, it is my
contention that nothing meaningful has really happened this month. As we know,
the reason for the volatility is primarily because of the ongoing sovereign
debt crisis in Europe. And as news events of today confirm, we remain no closer
to resolution here, even as stress indicators continue to deteriorate.
For example, while markets were surging today, German finance minster Wolfgang
Schaeuble was out saying basically the same things he's been saying all along,
that Germany is opposed to further bailouts or fiscal stimulus, and Europe's
periphery should resolve its problems via fiscal consolidation.
Later in the day, as the Financial Times reported, problems were surfacing
regarding Greece's latest bailout package:
"A split has opened in the eurozone over the terms of Greece’s second
€109bn bail-out with as many as seven of the bloc’s 17 members arguing for
private creditors to swallow a bigger writedown on their Greek bond holdings,
according to senior European officials."
What We Know:
Short-Selling
Bans Extended, Stocks Fall Harder at
The Wall Street Journal
Now's Not the Time to Take on Equity Market Exposure at Minyanville Erik Swarts Sep 28, 2011 ‘This is obvious when you consider the respective pieces that need to come together to resolve the sovereign debt crisis, and apply technical analysis to the charts.
[video]Buying
on Rumor - Prepare For The Selling On NewsTheStreet.com TV
The Biggest Borrowers From Uncle Ben Bernanke at Forbes ‘It comes as little surprise that America’s biggest banks are among the heaviest borrowers from the Federal Reserve’s unprecedented liquidity facilities during the financial crisis that doled out more than $1.2 trillion. An analysis of thousands of documents by Bloomberg News shows just how big the outlays to some of the world’s largest financial firms really were, including the 20 that follow and saw their outstanding loans peak at more than $25 billion… { Read Full Story http://www.forbes.com/sites/steveschaefer/2011/08/23/morgan-stanley-leads-biggest-borrowers-from-uncle-ben-bernanke } ‘
THE GREATEST SHOW ON EARTH September 29, 2011 http://www.etfdigest.com
http://albertpeia.com/circuswallstreet.jpg
Yes, I’ve used
this image before but it befits the past two months of frenetic two-way
trading. Thursday markets moved sharply higher early on news of better Jobless
Claims and GDP data plus the positive vote from the German parliament regarding
funding their portion of the euro zone’s EFSF (European Financial Stability
Facility).
Algos jumped
on the headlines which is what they’re programmed to do. They don’t look under
the hood for details since given their momentary focus, “facts don’t
matter”—not at least right away.
A closer look
inside Jobless Claims data is the consistent revisions for higher previous
claims. This makes current reports generally seem better by comparison.
Further, the BLS states with this report the significant impact of “seasonal
factors” skewing the report. The figures used to adjust the data typically look
for a drop in un-adjusted claims heading into the end of a quarter. For last
week however, the seasonal adjustment factors predicted unadjusted claims would
rise 0.4 percent per the Labor Department. Instead, unadjusted applications
followed the typical patterns at the end of quarters and plunged 8.2 percent,
leading to the even bigger drop in the adjusted data.
Below is an
analysis of the GDP report directly from the always reliable and probative Consumer
Metrics Institute.
The Bureau of Economic Analysis's
(BEA) third estimate of second quarter 2011 U.S. Gross Domestic Product (GDP)
was reported to be 1.34%, an upward adjustment from their previous data. The
new growth number was .36% higher than the number reported last month for the
same quarter. It is important to remember that this new monthly report covered
the same time periods as the previous reports -- meaning that this monthly set
of changes in the numbers was caused by late arriving data at the BEA and not
actual month to month improvements in the economy.
Among the items notable in the report:
-- Aggregate consumer expenditures for goods was still reported to be
contracting during the second quarter, dragging the overall growth rate of the
economy down by a -0.38% rate. This is actually marginally weaker than the
numbers in the earlier reports.
-- Consumer expenditures for services grew slightly during the quarter, at an
improved (although still very sluggish) 0.87% annualized growth rate. But the
adjustment in this single line item represented the bulk of the improvement in
the headline number.
-- The growth rate of private fixed investments was only slightly higher, at a
weak annualized 1.07% rate.
-- Inventories are still reported to have been drawn down during the quarter,
indicating that production has slowed faster than demand. The revised estimate
of inventory levels caused the overall growth rate to be reduced by a -0.28%
annualized rate.
-- Total expenditures by governments at all levels was still reported to be
shrinking, reducing overall economic activity at a -0.18% annualized rate.
-- Exports strengthened slightly relative to the earlier report, raising the
contribution that they made to the overall GDP growth rate to 0.48%.
-- Imports decreased somewhat when compared to the earlier report, and are now
reported to be removing -0.24% from the growth rate of the overall economy. The
combination of the revisions in the import and export numbers contributed about
half of the upward changes in the published headline number.
-- The growth rate of "real final sales of domestic product" was
revised upward to an annualized 1.62%, as the result of the now higher consumer
services figures, slightly improved foreign trade and the increased draw-down
of inventories.
-- Working backwards from the data tables, the effective "deflater"
used by the BEA to offset the impact of inflation was 2.58% -- still
substantially below the rates reported by their sister agencies. Substituting
the line-item appropriate (CPI or PPI) current inflation rate published by the
Bureau of Labor Statistics (BLS) causes the "real" GDP to be
contracting at a -0.73% annualized rate.
-- And using the same alternate BLS "deflaters" the real per-capita GDP can be shown to be
contracting at a -1.45% annualized rate. Similarly, per-capita disposable
income was contracting at a -0.92% annualized rate. These per-capita numbers
are what impacts individual Americans and it is the real source of the
frustration within the populace.
Not featured
by the financial media beyond Bloomberg is Thursday’s report and graph on their
Consumer Comfort Survey which shows this index as back to 2008-09 levels. This
is hardly encouraging.
http://albertpeia.com/comfort.jpg
Fed Governor
Lockhart finds current jobless conditions “perplexing and vexing” according to
this Bloomberg
story. So if I have my synonyms and meanings right he’s “embarrassed and
pissed-off” which kind of disqualifies him from such a position.
Meanwhile back
at Wall & Broad stocks as measured by the DJIA raced higher early by 260
points only to fall later by 45 points and then rally in “stick save” fashion
to close 143 points higher. This really is the “Greatest Show on Earth”! The
NASDAQ was lower by .43% led by semiconductor sectors (SMH) especially after a
poor outlook from Advanced Micro Devices (AMD), down nearly 14%. Also there is
still some lingering confusion over iPads from Apple (AAPL) versus Fire from
Amazon (AMZN). Financials were higher which helped much of the bigger names
rally although the rationale was difficult to determine.
Commodities,
including precious and base metals, oil and grains were higher overall. The
dollar was down slightly and bonds were stronger.
Volume was
modest most of the day until the large “stick save” was put in place to end the
session. Breadth per the WSJ was positive once again as quarter-end window
dressing is in full swing.
http://albertpeia.com/929-1.jpg
Major U.S. Markets (5)
U.S. Market Sectors & ETFs (20)
Bonds (4)
Commodity & Currency ETFs (16)
International & Emerging Market ETFs
(14)
$NYMO (1)
$NYSI (1)
$VIX (1)
The craziness
continues for the clown act doing business as the Greatest Show on Earth. It’s
no wonder so many individual investors have fled markets. Between phony data
and window dressing it’s hard to stick with the long-term program. Three bear
markets in 11 years would be enough to turn anyone off. Now we’re not in a bear
market yet but we’re frightfully close.
Friday brings
the not so reliable U of Michigan Consumer Sentiment, Personal Income and
Spending and the important Chicago PMI. Friday also will allow for more
end-of-quarter window dressing.’
[video]
Trader: I'd Sell Into This Rally at
TheStreet.com
CEOs have the Blues About Business Prospects Wall St. Cheat Sheet
NO COUNTRY FOR OLD MEN Dave’s Daily http://www.etfdigest.com September 30, 2011 ‘It’s probably not a “market” for men or women of any age at this point. Warren Buffett has put himself out there recently buying stock in Bank of America (BAC) and then suggesting Friday it might take 3-5 years for the company to clean things up. He also stated he’s received inquiries from European banks for a financial injection which isn’t a good sign. He’s also been highly visible averaging down buying shares in his own Berkshire Hathaway (BRK/A) with $5 billion in purchases already this quarter. He says he likes the president’s jobs bill although admitted to not knowing its details which is poor due diligence. He’s also unsure of just what Obama’s “Buffett Rule” means as it applies to incomes over $250K deflecting the level by talking about people making $50M or more. All this struck me as interesting and odd … So for stocks overall this is the worst performing quarter since 2008 when we were entering a bear market. Are we due for a repeat or is this just a continuation of the previous bear market? It gives us a sense of a 1930s like market which featured substantial bear market rallies. For the quarter the DJIA was down 12%, S&P 500 down 14.3% and Nasdaq Composite down 12.9%. European stocks in aggregate lost 17% …’
How to Navigate a News-Paralyzed Market Simon Maierhofer, September 30, 2011, ‘… Here's my psychoanalysis of the market, which I believe is more accurate than my medical opinion. The market has one goal, one reason for 'living.' It's to separate as many people as possible from their money. He doesn't always win, but over the decades he's found the most effective ways to separate most from as much money as possible. He's got a tackle box full of baits and lures to bait and switch unassuming investors. The market is smarter than the collective of all investors and analysts because it knows at any given time what the collective 'Wall Street wisdom' thinks and does. If the market sees Wall Street is bullish, it will go down and vice versa. The market will not be told by the media what to do and laughs at assessments like the following from the media (taken from this week):
AP on Monday:
'Stocks jump on hopes for a Europe fix'
Reuters on
Tuesday: 'Stocks pop on Europe hope'
AP on
Wednesday: 'Stocks are closing lower, ending a three-day winning streak, as
investors worry about Europe.'
Bloomberg on
Thursday: 'Stocks advance on jobless claims' (since when does the market care
about jobs anymore. Wasn't there any Greece news?) …’
Apple
in a Dangerous Position; Bears Are Watching at Minyanville
90% of
Americans say economy stinks
Protect your investments, what to look for next week. Forbes ‘ Right now is not the time to worry about knocking the ball out of the park. Let’s focus on preserving your assets. Today was end of the quarter and it was not pretty. For the quarter end we were down about -14.31% on the S&P 500. As for September, the S&P was down -7.21%, closing at 1131, down 5 points from were we closed Firday the 19th. The week was extremely volatile; it has gotten to the point where Main Street does not feel safe in a long term asset allocation strategy…’
Don't Let Taxes Stop You From Selling Stocks at Forbes
Defensive
Sectors Shine During Meltdown As Kodak Fades To Black at Forbes …’
4
Market Signs Signaling Recession
Cyclical
Sector ETFs Say It's the Economy, Stupidat The Wall Street Journal
Japan
Puts Cheapest Ever as Traders See Banking Lossesat Bloomberg
US incomes
fall for first time in nearly 2 years
Moody’s Lowers U.S. Lodging
Industry Outlook as Economy Slows
Yield Spread Confirming Recession Call http://www.zerohedge.com/news/guest-post-yield-spread-confirming-recession-call Lance Roberts of StreetTalk Advisors
Yield
Spread Confirming Recession Call
Recession. It is now becoming clearer, even to the
mainstream media, that the "Big 'R'" is rapidly approaching, or already upon us.
Without further stimulus from the government the economy will continue its
slide into negative growth. Unfortunately, it doesn't look like the "Calvary" will be charging to the rescue anytime
soon. Bernanke, at this point has effectively punted to the
Whitehouse for stimulative action. The Whitehouse is embroiled in
partisan politics which will keep any action from occurring until most likely
after the next election. This leaves the economy and the financial
markets to their own devices, and much like kids without parental supervision,
they are running amok.
I have been very vocal as of late
commenting on the fact that a recession is fast approaching.
The trends of the economic numbers have all soured to the negative.
From manufacturing to personal incomes to sentiment they all are signaling a
recession lay ahead. Another confirming indicator of a recessionary
track is the spread in yields between junk bonds and high quality bonds.
The chart here shows two different yield spreads. The blue
represents the difference in yields between AAA rated corporate bonds to BB
rated bonds while the red represents the spread between 10-yr government
treasuries to BB rated bonds. The dotted horizontal lines represent
when these spreads have signaled recessions in the economy.
When the economy is strong the spread between BB (Junk Bonds) and AAA
Bonds or Government treasuries is much lower as the perceived risk of default
on payment is lower. In times of economic stress or recession
the perceived risk of default or failure is much greater.
Currently, spreads at these levels are very indicative of economic stress and
recessions. The perceived risk of corporate failure is rising and spreads
are widening as money leaves high risk bonds (driving interest rates higher)
and moves to safer yielding bonds (keeping rates lower). The wider
the spread the harder it is for weak companies to access capital and corporate
failures rise.
On Friday, Lakshman Achuthan of the Economic Cycle Research Institute
reviewed the weight of ECRI's research, observing "Now it's
a done deal. We are going into a recession."
The spread in yields combined with our own research as well as that of
the ECRI, which is a very conservative organization with calls generally way
ahead of the consensus as we have repeatedly been, confirms that our views are
most likely the correct one.
While the media tends to view the economy from one report to the next
what is important is to understand the trend and the balance of the data on the
whole. Understanding the trend and balance will make you very unpopular
with the rest of the world that consistently ops for the "glass
half full" view
but will keep you from losing a lot of money in the long run.
John Hussman summed this view up well; "In
contrast, good economists think about the economy as a system - where multiple
sectors interact. We tend to use words like 'equilibrium' and 'syndrome' when
we talk about economic data - emphasizing that the best signals involve a whole
conformation of evidence, not one or two indicators, where the data - in
combination - captures a particular signature of recession or recovery.
Look at how Achuthan described the
situation on CNBC on Friday, and you'll see a good example of this sort of
thinking:
'This is a done deal. We are going
into a recession. We've been very objective about getting to this point, but
last week we announced to our clients that we're slipping into a recession.
This is the first time I'm saying it publicly. A broad range - this is not
based on any one indicator - this is based on dozens of indicators for the
United States - there is a contagion among those forward looking indicators
that we only see at the onset of a business cycle recession.. These leading
indicators, which are objective.. they have a certain pattern that they present
in front of a recession, and that is in, that is in right now.'
'A recession is a process, and I
think a lot of people don't understand that; they're looking for two negative
quarters of GDP. But it is a process where sales disappoint, so production
falls, employment falls, income falls, and then sales fall. That vicious circle
has started. You're looking at the forward drivers of that, which are different
indicators - there's not one - everything's imperfect. The Weekly Leading Index
.. that is saying unequivocally, this is recession. Long Leading Index, which
has a longer lead, is saying recession. Service sector indicators,
non-financial services where 5 out of 8 Americans work, plunging.
Manufacturing, going into contraction. Exports, collapsing. This is a deadly
combination, we are not going to escape this, and it is a new recession.'
For investors, if you believe that current analyst estimates of
forward operating earnings are correct, and you believe that the inappropriate
bubble-era benchmarks for price-to-forward operating earnings are actually
valid, and you've ignored all evidence that the Fed Model is spectacularly
devoid of validity, and you believe that the only course for valuations is to
move toward those misguided benchmarks regardless of what happens to Europe or
the U.S. economy, then it's easy to believe that stocks will head higher. For our
part, we believe none of those things..."
We agree with John on this point. These are points that we
have written extensively
on in the past. In a low growth economic environment the
persistent call for high growth rates in stock prices is dumbfounding.
History tells us that the corporate earnings, and ultimately capital
appreciation, cannot grow faster than the economy for long. Corporate
earnings, and ultimately the prices paid for those earnings, are a reflection
of the economy and not vice versa.
There is one final key point to all of this as it relates to the yield
spread. Investors face not only an oncoming recession here but also
a probable sovereign default and recession in Europe. The compounding of
these factors translates into heightened credit risk here in the U.S. (as noted
by credit spreads jumping higher recently) and corporations do not borrow
at the 10-year treasury rate. They borrow from the bond market and the
rising costs of borrowing due to rising credit risk impacts corporate
profitability. Expectations for earnings growth going into 2012 is still
extremely high with current estimates sitting at an all-time record for the
S&P 500 index next year. The reality of that occurring is
almost nil. In turn, this means that prices will have to be
adjusted for the reality of a recessionary economy which is why the average
decline of stocks during a recession is about 33%.
John Hussman
summed our current stance up very well: "Still, as
always, we're data-driven, and there are possible combinations of evidence (not
in hand at the moment) that could move us to a modestly or moderately
constructive investment stance even in the context of broader economic risks.
My impression continues to be that the best hope for a sustained advance (early
on, probably only several weeks or a few months in duration) is from
substantially lower levels, but we'll take our evidence as it comes. Suffice it
to say that we remain defensive here, but are quite willing to shift our
investment stance if the evidence supports that." Well said.’
Hold Your Enthusiasm ... This Is Still A Bear Market Rally http://www.bullfax.com/?q=node-hold-your-enthusiasm-still-bear-market-rally, 10/06/2011 By StopAlerts:We have had three nice rally days, and call volume instead of put volume is dominant, but this is still a bear market rally, in our view. If you are buying specific stocks for specific long-term reasons, that is one thing, but if you are buying indexes it may be best to wait for more of a confirming price movement …’
Is
a Recession Coming Next Year? –
Zacks ‘ While the current
economic data is not indicating we are back in recession, I find myself leaning
more and more into the "recession in 2012" camp.’ [ This link is
provided for the plethora of data / charts but misses the bigger picture of
current data in the context of the fraudulent scam dollar debasement strategy
of the fed and the inflationary impact of same so cheered by the frauds on wall
street for the illusory effect of same. ]
[video]
Caution Flag On The Rally
TheStreet.com Ken Polcari of ICAP Equity warns investors to be
careful with this rally, lows could be retested. 10/06/11
“The Prevailing Debate Among Economists and Historians is
Whether the World Economy Faces the ‘Great’ Depression of the 1930s or the
‘Long’ Depression of the 1870s” Washington’s Blog | Economists Agree: We’re
In a Depression. Fitch cuts
Italy, Spain ratings; outlook negative , Wall
Street vs Reality: A Hopeless Tug-of-War?
http://symmetrycapital.net/index.php/blog/2011/10/wall-street-vs-reality-a-hopeless-tug-of-war Are Wall Street strategists living in a
bubble? [ The short answer is, ‘YES’! The long answer is your work is quite
(closer to) correct (and worse when dollar debasement is factored in).] According to our work, credit
market, demographic, and leading economic indicators are all
pointing to a level of between 800 and 1,000 for the S&P 500 between now
and 2012-2013. http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR
Wall
Street vs Reality: A Hopeless Tug-of-War?
http://symmetrycapital.net/index.php/blog/2011/10/wall-street-vs-reality-a-hopeless-tug-of-war Are Wall Street strategists living in a
bubble? [ The short answer is, ‘YES’! The long answer is your work is quite
(closer to) correct (and worse when dollar debasement is factored in).] According to our work, credit
market, demographic, and leading economic indicators are all
pointing to a level of between 800 and 1,000 for the S&P 500 between now
and 2012-2013…’
Paulson's
Big Fund Down 47%; Sept. Proves Dicey For Hedgiesat Barrons.com
‘Things are getting
truly desperate in Europe. I’d like to show just how bad they are by way of
example: the Belgian bank Dexia, which is now in the process of being
nationalized.
For starters, Dexia had
566 billion euros in debt and 19 billion euros in equity as of the end of 2010.
Right off the bat, that’s a leverage
ratio of 29 to 1. Lehman Brothers was leveraged at 30 to 1 when it collapsed.
Now consider that
Belgium’s entire GDP is just 348 billion euros. Dexia has 566 billion euros in assets. Of this 352
billion are loans. Put another way,
Dexia’s loan portfolio alone is larger than its home country’s entire economy.
AND THIS BANK PASSED THE
STRESS TESTS.
Suffice to say, Europe’s
banking system is in far FAR worse shape than anyone over there is admitting.
The stress tests were complete and total fiction. And the market is starting to
figure this out.
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-2_1.png
Small wonder then that
had both the IMF and the Bank of England have recently warned that the world is
facing a “financial meltdown” and “the worst financial crisis in history.”
Ben Bernanke issued his
own statement of doom last week as well, stating that his precious recovery is
“close to faltering.” For a guy who’s spent TRILLIONS trying to create a
recovery to admit things aren’t working out ought to give you an idea of just
how bad things will be getting in the near future.
Indeed, stocks were
rejected last at a descending trendline from the July top.
We should have at least gotten a bounce to the 38.2% retracement
(1,200 on the S&P 500). So if the market fails to get there and simply
rolls over here, then we’re going DOWN in a big way FAST.
http://www.zerohedge.com/sites/default/files/images/user20289/imageroot/2011/09/sc-1_5.png
Here is the reality of
the financial system today:
§ The European
banking system is facing systemic collapse.
§ The US economy has
rolled over and is in a confirmed double dip in the context of a larger
DE-pression.
§ The Central
Banks and regulators have admitted we are peering into the abyss and they have
no clue what to do.
Yes, I believe
that before this mess ends, the financial system as a whole will have
collapsed. What's coming is going to make 2008 look like a joke.
If you have yet to
prepare yourself for what’s coming, now is the time to do so. Whether it’s by
moving to cash and bullion, opening some shorts, or simply getting out of the
markets altogether, now is the time to be preparing for what’s coming
(remember, stocks took six months to bottom after Lehman… and that was when the
Fed still had some bullets left to combat the collapse).
And if you’re looking
for specific ideas to profit from this mess, mr Surviving a
Crisis Four Times Worse Than 2008 report can show you how to turn the unfolding disaster into a time of
gains and profits for any investor.
Within its nine pages I
explain precisely how the Second Round of the Crisis will unfold, where it will
hit hardest, and the best means of profiting from it (the very investments my
clients used to make triple digit returns in 2008).
Best of all, this report
is 100% FREE. To pick up your copy today simply go to: http://www.gainspainscapital.com
and click on the OUR FREE REPORTS tab.
Good Investing!
Graham Summers
PS. We also feature four
other reports ALL devoted to helping you protect yourself, your portfolio, and
your loved ones from the Second Round of the Great Crisis. Whether it’s my
proprietary Crash Indicator which has caught every crash in the last 25 years
or the best most profitable strategy for individual investors looking to profit
from the upcoming US Debt Default, my reports covers it.’
FINANCIAL
CRISIS
"ROUND
TWO" SURVIVAL GUIDE THIS BEAR MARKET IS NOWHERE NEAR OVER. Since its March
10 low of 666 in 2009, the S&P 500 rally has been almost unstoppable.
Pundits and media commentators alike have taken this to mean that the bear
market is over and that stocks should once again be the primary asset class for
investors. None of them knows what they’re talking about. Over the last 30
years, the US has built up record debts on a personal, state, and national
level. Consumers thought they were financially stable so long as they could
cover the interest payments on their credit cards, states created program after
program few if any of which they could afford, and the Federal Government
issued $30-50 trillion in debt and liabilities (counting Social Security and
Medicare). This all came to a screeching halt when the housing bubble (arguably
the biggest debt bubble in history) imploded in 2007. Since that time, stocks
have staged one of their worst years on record (2008), one in five us mortgages
has fallen underwater (meaning the mortgage loan is worth more than the home
itself), and some trillions in US household wealth has evaporated. These issues
seem to be distinct, but in reality they all stem from a debt problem. And as you
know, there is only one legitimate way to deal with a debt problem: Pay it off.
However, instead of doing this, the Feds (the Federal Reserve, Treasury Dept,
etc.) have been producing EVEN MORE DEBT. Here’s a brief recap of their moves
thus far: • The Federal Reserve cuts interest rates from 5.25‐0.25% (Sept ’07 today) • The Bear Stearns
deal/ Fed buys $30 billion in junk mortgages (March ’08) • The Fed opens
various lending windows to investment banks (March ’08) • The SEC proposes
banning shortselling on financial stocks (July ’08) • The Treasury buys
Fannie/Freddie for $400 billion (Sept ’08) • The Fed takes over AIG for $85
billion (Sept ’08) • The Fed doles out $25 billion for the auto makers (Sept
’08) • The Feds’ $700 billion Troubled Assets Relief Program (TARP) (Oct ’08)
• The Fed
buys commercial paper (nonbank debt) from nonfinancials (Oct ’08) • The Fed
offers $540 billion to backstop money market funds (Oct ’08) • The Feds
backstops up to $280 billion of Citigroup’s liabilities (Oct ’08). • Another
$40 billion to AIG (Nov ’08) • The Fed backstops up $140 billion of Bank of
America’s liabilities (Jan ’09) • Obama’s $787 Billion Stimulus (Jan ’09) • The
Fed’s $300 billion Quantitative Easing Program (Mar ’09) • The Fed buying $1.25
trillion in agency mortgage backed securities (Mar ’09 ’10) • The Fed buying
$200 billion in agency debt (Mar ’09’10) • Cash for Clunkers I & II
(JulyAugust ’09) And that’s a BRIEF recap (I’m sure I left something out). In a
nutshell, The Feds have tried to combat a debt problem by ISSUING MORE DEBT.
They’re pumping trillions of dollars into the financial system, trying to prop
Wall Street and the stock market. They’ve managed to kick off a rally in
stocks… But they HAVE NOT ADDRESSED THE FUNDAMENTAL ISSUES PLAGUING THE
FINANCIAL MARKET. Stocks are headed for another Crash, possibly as bad as the
one we saw in October November 2008. As you know, that Crash wiped out $11
trillion in household wealth in a matter of weeks. There’s no telling the
damage this Second Round will cause. The Feds have thrown everything they’ve
got (including the kitchen sink) at the financial crisis… and things are
fundamentally no better than they were before: most major banks are insolvent,
one in five US mortgages is underwater, and the stock market is being largely
propped up by in‐house trading from a few key players (Goldman Sachs, UBS, etc).
Make no mistake, we are rapidly headed for ugly times in the financial markets.
The time to prepare yourself is NOW! And I’ve located several investments that
will not only protect your portfolio… they’ll also help you turn a profit when
this “house of cards” we call a market rally comes crashing down. I’ve detailed
all of them in this report, The Financial Crisis “Round Two” Survival
Guide.
Two Ways
Stocks Pay: Inflation and Dividends Before we get into the specific investment
suggestions, it’s important to take a big picture of stocks as an asset class.
The common consensus is that stocks return an average of 6% a year (at least
going back to 1900).
However, a
study by the London Business School recently revealed that when you
remove
dividends, stocks’ gains drop to a mere 1.7% a year (even lower than
the return
from longterm
Treasury
bonds over the same period). Put another way, dividends account for 70% of the
average US stock returns since 1900. When you remove dividends, stocks actually
offer LESS reward and MORE risk than bonds. If you’d invested $1 in stocks in
1900, you’d have made $582 with reinvested dividends adjusted for inflation vs.
a mere $6 from price appreciation. So as much as the CNBC crowd (and out serial
bubble blowing Fed Chairman Ben Bernanke) would like to believe that the way to
make money in stocks is buying low and selling high, the reality is that the
vast majority of gains from stocks stem from dividends. The remaining gains
have come largely from inflation. Bill King, Chief Market Strategist M.
Ramsey King Securities recently published the following chart comparing
REAL GDP (light blue), GDP when you account for inflation (dark blue), and the
Dow Jones’ performance (black) over the last 30 years. What follows is a clear
picture that since the mid-70s MOST of the perceived stock gains have come from
inflation.
Which
brings us to today. According to official data, the S&P 500 is currently
trading at a Price to Earnings (P/E) ratio of 20 and yields 1.7%. In plain
terms, stocks are expensive (historic average for P/E is 15) and paying little.
In other words, there is little incentive, other than future inflation
expectations, for owning stocks right now.
With this
in mind, now is the time to be pruning your “long” holdings. We’ve had a
spectacular run in stocks since the March 2009 low and the likelihood of this
continuing much longer is relatively slim. Running Out of Buyers By most
historic metrics, the market is showing signs of a significant top. Here are
just a few key metrics: 1) Investor sentiment is back to super bullish autumn
2007 levels. 2) Insider selling to buying ratios are back to autumn 2007 levels
(insiders are selling the farm). 3) Money market fund assets are at 2007 levels
(indicating that investors have gone “all in” with stocks). 4) Mutual fund cash
levels are at a historic low. This final point is key. Mutual funds are the
“big boys” of the investment world. If they have become fully invested in the
market, this means there are few buyers left to push stocks higher. This is
evident in the fact that every time mutual fund cash levels dropped, stocks
collapsed soon after (see chart below).
http://home.comcast.net/~RoyAshworth/Mutual_Fund_Cash_Levels/Mutual_Fund_Cash_Levels.htm
In plain
terms, the odds are high that a Top is forming in stocks. With that in mind, if
your portfolio is heavily invested in stocks, now is a time to be taking some
profits. If you can, consider moving a sizable chunk into cash. The market is
extremely tired and the systemic risks underlying the Financial Crisis are in
no way resolved. With investor complacency (as measured by the VIX) back to pre‐Crash levels, the Fed withdrawing several
of its more significant market props, and low participation coming from the
larger institutions, this market is ripe for a serious correction. I’m not
saying this will immediately happen. But at some point there will be a new
round to the Financial Crisis. When that happens, we WILL have another Crash.
Indeed, it is quite possible that stocks are making a VERY significant top, so
being heavily invested in stocks going forward doesn’t make much sense. Take
some money off the table. If you need a place to put it, I suggest physical
cash or Gold/ Silver bullion. If You MUST Stay Long, Shift to Quality If you DO
have to stay invested in stocks, now is the time to be shifting out of junk
into quality. The market rally from March 2009 has largely been lead by junk
companies (financials, retailers, etc). Meanwhile, quality has lagged
dramatically. As an example, let’s compare the performance of Coke (KO) to Bank
of America (BAC). KO is one of the best, most profitable brands in the world.
The competitive moat around this business is extraordinary and it remains one of
the most easily recognized franchises on the planet. You can drink six glasses
of Coke a day and still enjoy it the next day. That quality is almost nowhere
to be found in any other food/ beverage on the planet: even chocolate would get
old after six bars a day. BAC on the other hand has swallowed Countrywide
Financial AND Merrill Lynch’s garbage assets. It is effectively insolvent based
on its derivative exposure alone (the company has derivatives equal to 3,000%
of assets). BAC’s balance sheet is like an open sewer and without serious
government intervention the company would not even exist right now. And yet,
BAC’s stock has risen nearly 200% since the March ‘09 lows… while KO is up less
than 50%.
This
relationship works to the downside as well. What I mean is that when stocks
come unhinged, Quality (Coke) then outperforms Garbage (Bank of America) hands
down.
So, if you
HAVE to remain invested in stocks to the long side for whatever reason, now is
the time to be moving into high quality companies. This means finding companies
with low debt, lots of cash, strong results (KO actually GREW revenues in
2008), and significant competitive advantages. Also, and this is critical, look
for companies with strong balance sheets: companies that will still EXIST if there’s
another Crisis. Depression or no, people will still drink soda, alcohol, smoke
cigarettes, and need medicine. I’ve compiled a list of companies you should
consider if you need to remain involved in stocks going forward: Company Symbol
Sector Price/ Cash
Flow
Dividend
Yield Coke
KO Soft Drinks 15 3.2%
Budweiser
BUD Alcohol 14 N/A J&J JNJ Medicine 10 3.02% WalMart WMT General Retail 8
2.16% Exxon Mobil XOM Oil 11 2.51% You’ll note that most of these companies pay
decent dividends (compared to the S&P 500’s 1.7%). This is critical going
forward. With stocks overvalued, you want to make sure you’re at least getting
paid for remaining involved in the market. However, there is an added bonus to
owning Quality stocks right now. Because this market rally has largely been
dominated by Garbage stocks, Quality companies like Coke have not yet risen to
extreme valuations. Thus, you can still buy them at relatively cheap levels
(less than 15 times cash flow). So, in a sense, they are a good investment
based on pricing as well. I want to stress that these investments are only if
you HAVE to stay in stocks for some reason. If there is another collapse these
companies will fall like everything else. However, they will likely fall less
than the rest of the market (see the chart comparing Coke and the S&P 500
below).
source:
Yahoo Finance So while I do not expect these positions to make a lot of money
now (these are not short-term trades), they should shelter you from losing too
much money should another Crash hit. Indeed, if the market DOES collapse and
these companies fall 10- 15% across the board (while the market falls 30%+) I
would consider these investments even MORE attractive than they are today. Let
me explain. Volatility can either hurt you or be your friend. Most people would
sell a position if it fell 20-30%. This is wise if you’re investing based on
momentum. However, if
you’re
investing based on value, then doing this is completely antithetical to
attaining high returns. Consider Coke. Let’s say tomorrow Coke collapsed from
$55 to $25 per share. Most investors would panic and sell. I, on the other
hand, would be buying greedily. Why? Because Coke’s business has a fundamental
value. Even during a Financial Crisis and Depression, people will continue to
drink soda. So the opportunity to buy Coke at $25 a share (which would be 7-8
times cash flow) would be truly an extraordinary opportunity. Indeed, from an
income perspective alone, the opportunity here would be fantastic. Consider
that in 2009, Coke paid out $1.76 in dividends. With shares at $55, this means
a dividend yield of 3.2% (roughly three times what you’d get by leaving your
money in a savings account). However, if Coke shares fell to $25, that $1.76
suddenly becomes a 7% yield
($1.75/
$25.00). That’s a heck of a return from an income perspective. Even if
globally
the world entered a sharp Depression and Coke’s income fell by 30%,
pulling its
payouts down to $1.23, you’re still looking at a 5% yield. Indeed, companies
like Coke offer the potential of REAL value should their share prices drop.
Their fundamentals almost ALWAYS outperform investor sentiment. What I mean by
this is that should there be another Collapse, Coke’s share price will almost
certainly fall MORE from its current levels than Coke’s cash payouts or income
will from theirs. During 2008, Coke shares fell 30% or so. However, Coke
actually INCREASED its dividend that year. Anyone who bought Coke in October
2008, now collects a 4% yield on their shares (four times what he or she would
get from a bank account). This is why companies like Coke remain so strong
during times of Crisis. With the FDIC broke and most US banks insolvent,
investors desperately need a place to park cash that will still EXIST in a few
years. Companies like Coke are a reasonable alternative to a savings account in
the sense that you’re paid a higher yield for your deposit (now 3%, but 5% or
higher if Coke shares plunge). Of course, because Coke is a stock, you can lose
1015%
or more if
shares drop and you sell. In a Crisis, plain old cash will outperform just
about anything.
This is why
I’ve suggested moving money to cash, if you can. It’s also why I
suggested
buying Coke and the other companies listed above only IF you HAVE
to be in
stocks right now.
Catastrophe
Insurance: Trades For When the Collapse Hits
Now is also
the time to be taking out some “Catastrophe Insurance” by compiling a list of
trades to make once stocks begin to collapse. Let me be clear, these are not
trades that
you’ll make right now… these are trades you’ll make WHEN stocks
collapse.
Personally,
I favor UltraShort ETFs. If you’re unfamiliar with UltraShort ETFs, these are
invetsments that return 2X the inverse of a particular ETF. Let’s take an
example, the UltraShort Financials ETF (SKF). SKF returns 2X the inverse of the
Financials ETF (IYF). So if IYF falls 5%, SKF rises 10%. If IYF falls 10%, SKF
rises 20%. In this sense, SKF is a great “hedge” or means of playing Financial
stocks to the downside. However, there’s an added bonus to UltraShort ETFs like
SKF: these investments ALSO trade based on demand from the marketplace. So if
stocks collapse say 30%, you might actually see gains GREATER than 60% (2X the
inverse) due to investors piling in as they seek to profit from the collapse.
Consider SKF’s performance in 2008, for example. In 2008, financial stocks (as
measured by the Financials ETF: IYF), fell roughly 50%.
However, if
you’d bought SKF once the Crisis really took hold (late September), you could
have made MORE than 100% in two month’s time:
This is what
makes the UltraShort ETFs so handy when a Crisis hits: because they truly
skyrocket as investors stampede like elephants into safety. However, I MUST
STRESS that these are not investments to “buy and hold”.
Instead,
these are shortterm
trades you
should make ONLY once stocks have
begun to
truly collapse. Simply add them to your “on deck” trades to make
once the
next Crisis hits. You’re probably asking yourself, “how can I distinguish
between an ordinary
correction
and a REAL Crisis?” Let’s see what history shows us. If you recall from 2008, stocks
didn’t go straight down. Instead they dropped, bounced, and then began the
serious collapse. Looking back at that time, the 50 DMA served as a useful
metric for gauging that a serious decline was about to begin:
As you can
see stocks rolled over and broke below their 50DMA in late 2007. After that,
the 50DMA acted as strong resistance. Indeed, there was only one bounce above
this level, which lasted roughly a month and a half. The real trouble began in
the summer of 2008, and investors were given a decent warning when the S&P
500 collapsed and then bounced to test the 50‐DMA and failed to break it.
Similar
warnings appeared before the 1987 Crash:
The Tech
Bubble:
And the
2008 Crash:
Thus, this
tells us that the 50DMA is a strong metric for gauging when real trouble hits
stocks again. On that note, the trigger you should be looking for in terms of
when the
next Crash will hit will be a decisive break BELOW the 50DMA
followed by
a strong bounce that FAILS to break above it again. With that in mind, here are
some trades to put “on deck” for when the next round of the Crisis hits. Trade
#1: Short the Russell 2000
The Russell
2000 is perhaps the junkiest index in the US. Many of the companies that
comprise
this index don’t even MAKE money and most likely should have never been
taken
public in the first place. This is the “risk” index, the index of companies
that are
garbage.
For that reason, the Russell 2000 will collapse most when stocks truly begin
rolling
over.
The below
chart compares the Russell 2000’s performance against that of the Dow Jones
Industrial
Average during the 2008 Crash. As you can see, the Russell dropped
significantly
more:
For this
reason, I suggest buying the UltraShort Russell 2000 ETF (TWM) when the
market
begins its next real collapse.
The
UltraShort Russell 2000 ETF (TWM) returns 2X the inverse of the Russell 2000.
So if the
Russell 2000 falls 5%, TWM returns 10%. If the Russell 2000 falls 10%, TWM
returns
20%. It’s a terrific means of playing the collapse in small cap stocks.
Again, wait
for stocks to enter a free fall before opening this trade.
Trade #2:
Short Financials
By now you
know that the current Crisis has centered on the financial sector, specifically
the banks.
The Protect Your Savings report details the issues extensively. However,
as
further
proof, the below chart shows that US banks are about to get slammed with
another
round of
mortgage defaults from the residential housing sector (I’m not even going to
bother
including the commercial real estate market which is a multi-billion time bomb
in
of itself).
Suffice to
say, Financials have a lot of issues coming their way in the future. For that
reason,
when the next Round of the Crisis hits, I suggest buying the UltraShort
Financials
ETF (SKF).
SKF returns
2X the inverse of the Financials ETF (IYF). So if the IYF falls 5%, SKF
returns
10%. If the IYF falls 10%, SKF returns 20%. It’s a terrific means of playing
the
collapse in
financials stocks.
Again, wait
for stocks to enter a free fall before opening this trade.
Trade #3:
Short the Retail ETF
The US
consumer accounts for 70% of US GDP. Real unemployment is currently close to
17%. Food Stamp usage is around a record 38 million. Tax receipts for 2010 so
far are LOWER than 2009’s levels (didn’t everyone think the entire world was
ending back then?). And yet, retail stocks are back to their 2007 highs:
As you can
see, retail stocks in general are up nearly 200% during the worst recession in
decades. It’s simply staggering. For that reason, I suggest Shorting the
Retail ETF
(XRT) when stocks start to collapse. XRT gives broad exposure to the retail
sector. Its top holdings are: Company % of Assets Casey General Stores 1.9%
Gamestop 1.9% Jos A Bank Clothiers 1.8% Netflix 1.8% Tractor Supply 1.7%
Annetaylor Stores 1.7% Limited Brands 1.7% Childrens PI Retail Stores 1.7% Best
Buy 1.6% Abercrombie and Fitch 1.6% Shorting this ETF gives you the opportunity
to short retail across the board. However, if you’re more inclined to short
specific companies, I’d focus on apparel and clothing retailers like Gap (GPS),
Limited Brands (LTD), Nordstrom (JWN), and the like. As with the other trades,
only enter these shorts when the market begins to enter a free fall.
Trade #4:
Short the Emerging Markets Emerging markets have leaded the US on this latest
rally: they bottomed back in November 2008, while US stocks continued to plunge
until March 2009. That’s not the only “leading” emerging markets have done.
While the S&P 500 is up some 60% from its March lows, China, Brazil and
their kind have all more than DOUBLED from the November 2008 lows.
This
relationship will reverse in the next Crisis.
During
times of Crisis, the “flight to safety” involves institutional investors
dumping
their
foreign shares to load up on Treasuries or other perceived “safe havens.”
Consequently,
emerging markets are hit hardest when the markets collapse.
For that
reason, when the next collapse begins I suggest shorting emerging markets via
any number
of inverse Ultrashort ETFs. The most popular ones are:
1) The
UltraShort Emerging markets ETF (EEV)
2) The
UltraShort China ETF (FXP)
3) The
UltraShort Brazil ETF (BZQ)
All three
of these return 2X the inverse of an underlying index: the MSCI Emerging
Markets
ETF, the FTSE/ Xinhua 25 ETF, and the Brazil ETF, respectively. As such, they
represent a
great way to pocket major gains when the emerging markets collapse along
with the
rest of the financial world during the next Crisis.
As with the
other trades, only enter these shorts when the market begins to enter a free
fall.
CONCLUSION This concludes the our report. If you found this interesting you
might want to consider delving into our other FREE reports. All of them are
available for downloading. Simply click here.
Good
Investing!
Graham
Summers
Chief
Market Strategist
Phoenix
Capital Research
Think Tank Says Bailout Fund Will Need $6 Trillion And France Will Lose AAA Rating Daily Bail | Where do they plan to get the money, Euro Claus?
Stocks
Surge On New Promises From European Leaders, Dow Adds 300 Points [ Come on! Wake up! Two desperate, failed
politicians who haven’t the slightest idea what they’re doing; certainly in the
areas of finance and economics. Indeed, they’ve borrowed from a page in the
fraudulent wall street / defacto bankrupt american book of failure and fraud in
banging ‘square pegs in round holes’ along with nation-draining fraudulent
obfuscation with b***s*** alone that hearkens back to that ’Weimar dollar’ era
that was precursor to and inevitably led to the inflationary / no real value
collapse now underway as is already the scenario in america. How totally
desperate and pathetic they are. This is cheered by the wall street types /
frauds to enable them to favorably cash
out. Take your profits while you still can, protect yourself while you still
can, this fraud – induced collapse is just beginning. New ‘promises’!
Currency-debased high inflation rally!
What a joke they’ve become! ]
Bulls
Prevent Bear Market This Week: Dave's Dailyat TheStreet [Sorry Dave … this is already a secular bear market
with sporadic, contrived, HFT / programmed contraindicated suckers’ bear market
rallies that you yourself have previously pointed out, alluded to. Who talked
to you Dave, which by the way brought you ‘back into the fold’ at least at
Yahoo, etc., with your atypically inaccurate headline.] It didn’t
take much Tuesday to get a short-squeeze underway. Markets were at bear market
levels then until a rumor, passing as a news story from FT, got the bullish HFT
algos going.
The impact of
phony short-squeeze rallies — Ritholtz
Don’t mock the
99% — Megan McArdle
Did LSD help
make Steve Jobs more creative? — Slate
Alex P.
Keaton, an alternative history — Josh Brown
Steve Jobs and America’s decline — Greg Ip in the Economist
Oct 6th 2011, G.I. | WASHINGTON [ That Steve Jobs was great for having
literally saved Apple Computer from extinction, there is no question and I’ve
previously eulogized him accordingly, ‘pre-death’ (my first computer was an
AppleIIc in 1986). Related story: ‘Did LSD help make Steve Jobs more creative?
— Slate’ Yet, for
every story as his, the Beatles (my favorite band all-time, along with the
Classical Greats), etc., I can relate a multitude of stories of tragedy,
disaster, including one of a quite brilliant lad I worked with – summer job –
who expounded on the benefits of LSD expanding one’s mind {repeatedly
recommending I try it – I didn’t- never did} was accepted at Columbia Law
School, and while hitchhiking while high in mind-expansion-mode walked into a
mack truck thereby expanding his mind (and body) all over the roadway,
etc..] ‘EARLIER this year a Federal
Reserve official tried to tamp down worries about inflation by noting that,
while food and petrol were getting more expensive, you could now buy an iPad
that was twice as powerful for the same price as the previous model. The
remark, soon lampooned as “Let them eat iPads”, predictably drew derision. But
it typified a tactic to which American leaders frequently turn when they need a
rejoinder to economic doomsaying: cite an Apple product.As bad as their
politics has got, Americans could always comfort themselves with the knowledge
that their business leaders, entrepreneurs and workers were the most dynamic
and innovative in the world. But they may look back on 2011 and see three
events that undermine that story: the downgrade of America’s credit rating; the
last flight of the space shuttle; and Mr Jobs’s death. The first, coming as it
did on the heels of a debilitating and entirely pointless fight over raising
the debt ceiling, captures how American political dysfunction has undermined
the economy’s institutional pillars. The latter two symbolised the waning of,
respectively, American public and private technological pre-eminence.
Of course, it would be foolish to count out Apple,
much less an entire economy, because of one man’s death. Yet even if Apple
remains as successful as it has been under Mr Jobs, that success long ago
decoupled from that of the broader economy. Written on the back of my iPod are
the words, “Designed by Apple in California, Assembled in China.” It was
classic Jobs: reframing an issue, the outsourcing of American manufacturing
jobs, as something inspirational rather than discouraging. The low-skill assembly
jobs and the middle-class lives they provided may be leaving for Asian shores,
but the brainy, wealth-creating parts of the process—the design, the
engineering, the marketing—were firmly rooted in Silicon Valley. Free traders
(including me) loved to cite the research that finds far more of the value in
an iPod is added in America than in China.
But behind this glowing story of synergy between
American brains and Chinese brawn lay a more disturbing reality. American
global economic leadership has, in the last decade, benefited an ever narrower
slice of its people. They have become fabulously wealthy, while the vast
majority of job growth has been in areas like education and health care, where
productivity and wages are stagnant, a trend well documented by
Michael Spence. American global business leadership used to be personified
by the likes of General Motors, Caterpillar, General Electric and Eastman
Kodak. As they lost market share to foreign competitors, shifted employment
overseas or flirted with bankruptcy, the focus turned to technology companies
like Cisco Systems, Microsoft and Hewlett Packard. Microsoft and Cisco are both
fine, though in recent years they have undergone layoffs and seen their market
values shrink to a fraction of their bubble-era peaks. Hewlett Packard, of
course, is flailing around for a new business model, and is seeking to exit the
personal-computer business altogether.
Americans' entrepreneurial self-esteem is now
embodied by Apple, Google, Facebook and Amazon. These are indeed fabulously
innovative companies with world-beating business models. Yet one wonders if
they are increasingly the exception, not the rule, and if the passing of Mr
Jobs is simply the most prominent example of a broader decline in American
entrepreneurship. According to JPMorgan, in the late 1990s, employment at
start-up companies regularly grew 1.2m per quarter. That has fallen to 700,000
since the current recovery began. John
Haltiwanger, probably the leading economist on employment dynamics by firm
size, finds similar trends.
Entrepreneurship and innovation, of course, are not
the same thing. Yet even if American innovation is fundamentally sound, there
remains the more unsettling problem of how narrowly its fruits are shared. If
you want to know why the Senate is on the verge of passing a bill punishing
China for its trade practices, look no further than this fact: Apple, Google,
Facebook and Amazon collectively employ just 113,000 people, a third of GM’s
payroll in 1980. Naturally, as Adam Smith pointed out long ago, the sole
purpose of production is consumption, so one should not scoff at the benefits
these companies create for Americans in their other role as consumers rather
than workers. And in truth, technological advancement has probably done far
more than trade to hollow out the middle class and widen inequality. Slapping
China with punitive tariffs is more likely to trigger a trade war than restore
millions of middle-class jobs.
But this is not a message that resonates with voters,
or Congress. Both suspect that globalisation has done far more to benefit
companies’ shareholders and their bankers than rank-and-file workers. That is
the conviction of the people now occupying Wall Street, even if they lack
coherent plans for dealing with it. And one can't blame them for suspecting the
administration’s motives when its ambassador to China delivers a speech that
so prominently takes up the cause of American credit-card companies. Of course,
Visa and Mastercard are as deserving of government support in foreign markets
as any metal-bending company; but they only employ 12,600 people worldwide.
It would be unfair to lay this all at the feet of
American politicians: widening inequality and the decline of middle-class
manufacturing jobs is a global phenomenon that vexes governments everywhere.
Yet this does not excuse American governance for making matters worse. There
are lots of things it could do to improve the ability of and incentives for
American companies and workers to innovate and grow, whether it’s taxing fossil
fuels, giving more green cards to foreign scientists and engineers or
simplifying the tax code. These days, however, that seems a fantasy compared to
more prosaic demands such as, don’t shut down the government, starve critical
government agencies of funds or default on the national debt. If America is
going to hold on to its technological mojo, it needs all the help it can get.’
>
9 things
you didn’t know about the life of Steve Jobs ‘For all of
his years in the spotlight at the helm of Apple, Steve Jobs in many ways
remains an inscrutable figure — even in his death. Fiercely private, Jobs
concealed most specifics about his personal life, from his curious family life
to the details of his battle with pancreatic cancer — a disease that ultimately
claimed him
on Wednesday, at the age of 56.
While the CEO
and co-founder of Apple steered most interviews away from the public
fascination with his private life, there's plenty we know about Jobs the
person, beyond the Mac and the iPhone. If anything, the obscure details of his
interior life paint a subtler, more nuanced portrait of how one of the finest
technology minds of our time grew into the dynamo that we remember him as
today.
1. Early
life and childhood
Jobs was born in San Francisco on February 24, 1955. He was adopted shortly
after his birth and reared near Mountain View, California by a couple named
Clara and Paul Jobs. His adoptive father — a term that Jobs openly objected to
— was a machinist for a laser company and his mother worked as an accountant.
Later in life,
Jobs discovered the identities of his estranged parents. His birth mother,
Joanne Simpson, was a graduate student at the time and later a speech
pathologist; his biological father, Abdulfattah
John Jandali, was a Syrian Muslim who left the country at age 18 and
reportedly now serves as the vice president of a Reno, Nevada casino. While
Jobs reconnected with Simpson in later years, he and his biological father remained
estranged.
2. College dropout
The lead mind behind the most successful company on the planet never graduated
from college, in fact, he didn't even get close. After graduating from high
school in Cupertino, California — a town now synonymous with 1 Infinite Loop,
Apple's headquarters — Jobs enrolled in Reed College in 1972. Jobs stayed at
Reed (a liberal arts university in Portland, Oregon) for only one semester,
dropping out quickly due to the financial burden the private school's steep
tuition placed on his parents.
In his famous 2005
commencement speech to Stanford University, Jobs said of his time at Reed:
"It wasn't all romantic. I didn't have a dorm room, so I slept on the
floor in friends' rooms, I returned coke bottles for the 5 cent deposits to buy
food with, and I would walk the seven miles across town every Sunday night to
get one good meal a week at the Hare Krishna temple."
3. Fibbed to his Apple co-founder about a job at Atari
Jobs is well known for his innovations in personal computing, mobile tech, and
software, but he also helped create one of the best known video games of
all-time. In 1975, Jobs was tapped
by Atari to work on the Pong-like game Breakout.
He was
reportedly offered $750 for his development work, with the possibility of an
extra $100 for each chip eliminated from the game's final design. Jobs
recruited Steve Wozniak (later one of Apple's other founders) to help him with
the challenge. Wozniak managed to whittle the prototype's design down so much
that Atari paid out a $5,000 bonus — but Jobs kept the bonus for himself, and
paid his unsuspecting friend only $375, according to Wozniak's own autobiography.
4. The
wife he leaves behind
Like the rest of his family life, Jobs kept his marriage out of the public eye.
Thinking back on his legacy conjures images of him commanding the stage in his
trademark black turtleneck and jeans, and those solo moments are his most iconic.
But at home in Palo Alto, Jobs was raising a family with his wife, Laurene, an
entrepreneur who attended the University of Pennsylvania's prestigious Wharton
business school and later received her MBA at Stanford, where she first met her
future husband.
For all of his
single-minded dedication to the company he built from the ground up, Jobs
actually skipped
a meeting to take Laurene on their first date: "I was in the parking
lot with the key in the car, and I thought to myself, 'If this is my last night
on earth, would I rather spend it at a business meeting or with this woman?' I
ran across the parking lot, asked her if she'd have dinner with me. She said
yes, we walked into town and we've been together ever since."
In 1991, Jobs
and Powell were married in the Ahwahnee Hotel at Yosemite National Park, and
the marriage was officiated by Kobin Chino, a Zen Buddhist monk.
5. His
sister is a famous author
Later in his life, Jobs crossed paths with his biological sister while seeking
the identity of his birth parents. His sister, Mona Simpson (born Mona
Jandali), is the well-known author of Anywhere But Here — a story about a mother and daughter that was later
adapted into a film starring Natalie Portman and Susan Sarandon.
After reuniting, Jobs and Simpson developed a close relationship. Of his
sister, he told a New York Times
interviewer: "We're family. She's one of my best friends in the world.
I call her and talk to her every couple of days.'' Anywhere But
Here is dedicated to
"my brother Steve."
6. Celebrity romances
In The Second Coming of Steve Jobs, an unauthorized biography, a friend from Reed
reveals that Jobs had a brief fling with folk singer Joan Baez. Baez confirmed
the the two were close "briefly," though her romantic connection with
Bob Dylan is much better known (Dylan was the Apple icon's favorite musician).
The biography also notes that Jobs went out with actress Diane Keaton briefly.
7. His
first daughter
When he was 23, Jobs and his high school girlfriend Chris Ann Brennan conceived
a daughter, Lisa Brennan Jobs. She was born in 1978, just as Apple began
picking up steam in the tech world. He and Brennan never married, and Jobs
reportedly denied
paternity for some time, going as far as stating that he was sterile in
court documents. He went on to father three more children with Laurene Powell.
After later mending their relationship, Jobs paid for his first daughter's
education at Harvard. She graduated in 2000 and now works as a magazine writer.
8.
Alternative lifestyle
In a few interviews, Jobs hinted at his early experience with the psychedelic
drug LSD. Of Microsoft founder Bill Gates, Jobs said: "I wish him the
best, I really do. I just think he and Microsoft are a bit narrow. He'd be a
broader guy if he had dropped acid once or gone off to an ashram when he was
younger."
The connection
has enough weight that Albert Hofmann, the Swiss scientist who first
synthesized (and took) LSD, appealed to Jobs for funding for research about the
drug's therapeutic use.
In a book
interview, Jobs called his experience with the drug "one of the two or
three most important things I have done in my life." As Jobs himself has
suggested, LSD may have contributed to the "think different" approach
that still puts Apple's designs a head above the competition.
Jobs will
forever be a visionary, and his personal life also reflects the
forward-thinking, alternative approach that vaulted Apple to success. During a
trip to India, Jobs visited a well-known ashram and returned to the U.S. as
a Zen Buddhist.
Jobs was also
a pescetarian who didn't consume most animal products, and didn't eat meat
other than fish. A strong believer in Eastern medicine, he sought to treat his
own cancer through alternative
approaches and specialized diets before reluctantly seeking his first
surgery for a cancerous tumor in 2004.
9. His
fortune
As the CEO of the world's
most valuable brand, Jobs pulled in a comically low annual salary of just
$1. While the gesture isn't unheard of in the corporate world — Google's
Larry Page, Sergey Brin, and Eric Schmidt all pocketed the same 100 penny
salary annually — Jobs has kept his salary at $1 since 1997, the year he became
Apple's lead executive. Of his salary, Jobs joked
in 2007: "I get 50 cents a year for showing up, and the other 50 cents
is based on my performance."
In early 2011,
Jobs owned 5.5 million shares of Apple. After his death, Apple shares were valued
at $377.64 — a roughly 43-fold growth in valuation over the last 10 years
that shows no signs of slowing down.
He may only
have taken in a single dollar per year, but Jobs leaves behind a vast fortune.
The largest chunk of that wealth is the roughly $7 billion from the sale of
Pixar to Disney in 2006.
In 2011, with an estimated net worth of $8.3 billion, he was the 110th richest
person in the world, according to Forbes.
If Jobs hadn't sold his shares upon leaving Apple in 1985 (before returning to
the company in 1996), he would be the world's fifth richest individual.
While there's
no word yet on plans for his estate, Jobs leaves behind three children from his
marriage to Laurene Jobs (Reed, Erin, and Eve), as well as his first daughter,
Lisa Brennan-Jobs.’
-----
Did LSD help
make Steve Jobs more creative? — Slate { I’d say ‘causation’ (cause/effect) becomes
problematic here; a ‘chicken and egg’ kind of thing that in the realm of
Kantian philosophy would be considered a noumenon; quite possibly even
misconstrued by Jobs himself in an overly humble, somewhat self-effacing kind
of way, ignoring his innate abilty, brilliance. } [ That Steve Jobs was great for having
literally saved Apple Computer from extinction, there is no question and I’ve
previously eulogized him accordingly, ‘pre-death’ (my first computer was an
AppleIIc in 1986). Yet, for every story as his, the Beatles (my favorite band
all-time, along with the Classical Greats), etc., I can relate a multitude of
stories of tragedy, disaster, including one of a quite brilliant lad I worked
with – summer job – who expounded on the benefits of LSD expanding one’s mind
{repeatedly recommending I try it – I didn’t- never did} was accepted at
Columbia Law School, and while hitchhiking while high in mind-expansion-mode
walked into a mack truck thereby expanding his mind (and body) all over the
roadway, etc..]
Home
ownership: Biggest drop since Great Depression The percentage of Americans who owned their homes
has seen its biggest decline since the Great Depression, according to the U.S.
Census Bureau.
The impact of phony short-squeeze rallies — Ritholtz http://www.ritholtz.com/blog/2011/10/the-mmpact-of-phoney-short-squeezes
Stock
investors may take days to distinguish real news from noise, according to
Federal Reserve Bank of New York.
http://www.ritholtz.com/blog/wp-content/uploads/2011/10/1007chart.jpg
This is
especially true these days, given false announcements of bailouts, Fed
interventions and rescues. They tend to cause fake short squeezes that
temporarily spike markets, only to see them ultimately head lower.
To get a
closer look of noise on markets, the FFRBNY studied how UAL’s stock moved in
September 2008. At the time, a “six-year-old report on the
company’s bankruptcy filing appeared online and was treated as a new story.”
David Wilson
of Bloomberg has the details:
“UAL, which later
became United Continental Holdings Inc., plunged as much as 76 percent on Sept.
8, 2008, in response to the error. While UAL’s loss narrowed to 11 percent by
the close of trading, the shares fell the next two days before rebounding.
“Residual effects
attributable to the false news shock” lasted for seven trading days, the
researchers wrote this week in a blog posting on the New York Fed’s website.
The effect is at odds with the efficient-market hypothesis, which holds that
share prices reflect all publicly available data on a company.
To identify the
time period, they estimated where UAL’s shares would have traded if the
outdated report hadn’t surfaced. The projection was derived from the
performance of the Standard & Poor’s 500 Index, the Bloomberg World
Airlines Index and crude oil during the period. The posting by economists
Carlos Carvalho, Nicholas Klagge and Emanuel Moench was based on a report they
published in May 2009 and revised in June. Carvalho, who teaches economics at
the Pontifical Catholic University of Rio de Janeiro, worked at the New York
Fed when the research was originally done. His two co- authors are still there.
Given every twitch of the market over tales of EU/ECB
action, German banks bailing out Italy, or anything related to Greece, it is
interesting to see how traders behave relative to false announcements.’
IMF to
Propose New Short-Term Credit Lines Oct 7th, 2011 News (The Wall Street Journal) — The
International Monetary Fund is crafting a proposal to offer new short-term
credit lines to governments to prevent the spread of global financial crises,
senior IMF and finance officials say.The program has the tentative backing of
key world financial leaders who are expected to approve the new lending tool at
the coming meetings of the Group of 20 industrialized and developing economies,
according to three senior officials from G-20 countries. [source]
PG View: Yes!
Absolutely! More credit, more debt is the answer to the global debt crisis.
U.S.
Bank Exposure to Europe Could Be $640 Billion, Per Congressional Paper Oct
7th, 2011 News (The
Wall Street Journal) — U.S. bank exposure to the European debt crisis is
estimated at $640 billion, nearly 5% of total U.S. banking assets, according to
recent research papers written for Congress.While U.S. Treasury Secretary
Timothy Geithner says the U.S. banking sector’s vulnerability to the euro zone
problems is “very limited,” the Congressional Research Service estimate is one
of the first public assessments provided by the U.S. government that quantifies
the potential risks.According to two different reports provided to federal
lawmakers last month, the debt problems of Greece, Ireland, Portugal, Italy,
and Spain constitute a ”serious risk” to the European banking system,
particularly German, French, and U.K. banks, which have close ties to U.S.
banks. Markets believe there’s a very high likelihood Greece will default in
the coming weeks. That could cause a cascade of other crises throughout Europe…The
estimate doesn’t include U.S. bank exposure to European bank portfolios that
include assets in the weak member countries. Also, it doesn’t account for
euro-zone assets held by money market, pension, and insurance funds.[source]PG View: Geither’s sense of reality
seems to have been distorted by all the absolutely huge numbers bandied about
in recent years. Does he really view $640 bln is “very limited?” The
Congressional Research Service goes on to say that, “depending on the exposure
of non-bank financial institutions and exposure through secondary channels,
U.S. exposure to Greece and other euro-zone countries could be considerably
higher.” What exactly does “considerably higher” mean? Is it twice the $640
bln? More?
Fitch
cuts Italy, Spain ratings, outlook negative Oct 7th, 2011 News (Reuters) source]
Is U.S. a Third-World
Nation? Oct 7th, 2011 News
(The Wall Street Journal) — [ YES! ]Author Michael Lewis says the U.S. and many
European nations suffered a moral failure that led to economic collapse. PG View: Supposed first world
countries — including the US — hid risk, which was consequently mispriced,
leading to crisis.
World
facing worst financial crisis in history, Bank of England Governor says Oct
7th, 2011 News (The
Telegraph) — ..This is the most serious
financial crisis we’ve seen, at least since the 1930s, if not ever.
We’re having to deal with very unusual circumstances, but to act calmly to this
and to do the right thing.” [source]
Banking
Delusion Brings Crisis to Europe’s Core Oct 7th, 2011 News (Bloomberg-BusinessWeek) — Once
upon a time, like this summer, Dexia SA, the French-Belgian bank, was stable.
By the measures global regulators deem important, its capital ratio stood at
11.4 percent of risk-weighted assets, according to data compiled by Bloomberg.
That’s well above the 10 percent regulators plan to require of the world’s
largest banks under new international rules.What a difference a summer makes.
The Belgian and French governments now have a complicated mess on their hands.
Dexia, which had received a government bailout in 2008..[source]
‘Chinabot
is in full fail mode, after a sticksave attempt to save the currency following
the Italian downgrade by Fitch was monkeyhammered with the Spanish downgrade
which was not only two notches, but sent the country's rating to below that of
S&P and Moodys. Adding fuel to the fire is an errant comment from Merkel
who has said that Eurobonds are "absolutely
the wrong way to go", and lastly, a last minute
notification from Fitch which goes for Trifecta by saying that Portugal remains
on outlook negative..
Market
Snapshot: Dispersion Rising As EU Financials UnderperformDurden on 10/07/2011 - 11:47 Precious
Metals Price
Action ..why are we still
rallying? ..
Well,
a month end update only for those funds who still report their P&L to HSBC.
Others, such as Paulson, apparently deem it below them to post an update when
they are doing less than swell, shall we say. In other news, redemptions will
continue until morale improves.
From
the mind that brought you the Great
Vega Short comes the next masterpiece on liquidity, volatility, contagion
and everything else. "Volatility is change and the world is changing. The
truth is that Greece will default. The truth is that if our leaders continue to
deny our problems history tells us the US will eventually default. These
shocking events will hurt many people, markets will collapse, life savings will
be lost, there will be violence, upheaval, and massive political change ..
Several years ago Paolo Pellegrini, Kyle Bass,
Michael Burry and several other visionaries were well ahead of the conventional
wisdom groupthink curve by not only sensing that the housing market was
massively overvalued and riding on the crest of a huge leverage bubble .. the
world is fretting about Europe, Morgan Stanley, lack of decisive political
decision-making in a pseudo union of 17 different countries, lack of decisive
monetary intervention, a Chinese hard landing and everything else that makes
front pages these days, slowly our prediction is starting to come true. But you
won't hear about it anywhere else, because if the market understands that in
addition to a global solvency crisis, America has another Subprime contagion on
its hands actually being expressed in the markets as we type, and potentially costing banks, pension funds
and various asset managers billions in losses behind the scenes, that may well
be the last straw.
The
headline wholesale inventories number missed +0.6% expectations, rising only
0.4% (from 0.8% prior) with its lowest build since Nov 2010. Under the covers
though, non-durables were the most troublesome - unless of course the spin is
that a falling inventory implies future growth as inventories 'have' to be
rebuilt, right? Non-durables inventories dropped 0.6% - its biggest drop since
Sep 2009.
The
rally has been strong across many products, but once again has all the signs of
a short squeeze rally. ..
As
noted previously, one key fly in the ointment in an otherwise better than
expected jobs report (in which the participation rate also trended higher for a
welcome change) was the manufacturing jobs data, which declined by 13,000.
Perhaps at the end of the day this is the most important data point, since
while declining government jobs at the end of the day is a good thing,
government workers don't actually create anything of value for the economy. And
as the chart below demonstrates, the long term trend is certainly not our
friend. The second "fly", and the one that will certainly be used as
a talking point by politicians, was the average unemployment duration. At 40.5
weeks, it just hit a new all time record.
As usual, Reuters is the first with a compilation of
Wall Street's gut reaction to the NFP data.
So much for the recession? September NFP prints at
103,000 on expectations of 60,000, with August revised to 57,000 from that
roulette busting double zero. The unemployment rate held at 9.1 percent, as
expected. From the report: "The
increase in employment partially reflected the return to payrolls of about
45,000 telecommunications workers who had been on strike in August..
real unemployment, U6, printed up from 16.2% to 16.5%, the highest since
December 2010.
The bank that was selling Dexia shares to its clients
all the way down (Goldman
Cuts Dexia From Buy To Neutral On Imminent Restructuring And Winddown) and
which has the uncanny ability to align its own trading desk with an event's
"outcome", at the expense of clients of course, has just done it
again. As of this morning it is actively
selling Margin Stanley calls to whoever is still left as a
client. From a just released report: "Buy calls for a likely relief rally
on earnings; sell short-dated CDS as fear falls." Now... just who are
these clients buying calls from and selling CDS to?’
6 Reasons a Global Recession is Unavoidable Ron DeLegge, October 5, 2011, ‘Most economists and Wall Street types are reluctant to publicly admit the global economy is in a recession. Their reams of conflicting data are sending mixed messages. But an honest look at key events and the behavior of financial markets solidifies the view that the global recession we're probably already in, is unavoidable. Let's analyze some of the reasons behind this.
1) The
Fed is out of tricks. When
it comes to manipulating financial markets in the name of economic security,
nobody matches the Federal Reserve's prowess. Over the past few years, the Fed
has engaged in financial gimmickry of such epic proportions that angry calls
for ending its existence have been voiced from sea to shining sea. The Fed's
Treasury purchases (POMO) and monetization of debt (quantitative easing), may
have delayed the reckoning day, but have these programs really solved America's
long-term problems? The Fed's latest shift from short-term to long-term debt
(Operation Twist) is tantamount to taking money from your right hand pocket and
putting it into your shirt pocket. The Fed is running out of time and out of
tricks. Ben Bernanke has finally admitted what the general public has known all
along; the job situation is a 'national crisis.'
2) Stock
market says we're already in a recession.The National Bureau of Economic Research (NBER) and
its leading economists still deny the U.S. economy is in a recession.
Apparently, their slide rulers haven't yet confirmed it, so they need a few
more quarters before issuing a press release. Meanwhile, the stock market,
which is a leading indicator of economic activity, is screaming 'recession.'
Large company stocks within the S&P 500 (NYSEArca: SPY - News) have fallen almost 18% since
July. Bulls argue this is still shy of the 20% threshold that confirms a bear
market, but even so, mid cap stocks (NYSEArca: MDY - News) and small caps (NYSEArca: IWM - News) have already entered bear
territory. Today's stock prices reflect expectations about future earnings,
which in turn are connected to the future state of the economy. Expectations
are rightfully low.
3) Greece
has set the tone for Europe (and maybe the rest of the world).How many financial targets will Greece continue to
miss before forecasters stop regurgitating its false numbers? When will Greece
stop embarrassing itself with financial projections it knows aren't true?
Greece's 2011 deficit was projected to be 8.5% of its GDP but came in almost
1.69 billion above its original targets. Next year, Greece is aiming for a
deficit that's 6.8% of GDP. With the country engulfed in civil protests, job
strikes and general chaos - how realistic are its 2012 projections? Financial
bets for Greece to succeed are a long-shot. The country's economic projections
are no longer based upon realistic assumptions, but hopes for garnering more
bailout money and calming hostile markets. Ultimately, Greece is merely a
reflection of the entire EU region - a place where financial aspirations don't
match reality.
4) Bear
funds are leading performers.The
two-year period from March 2009 to March 2011 was a difficult existence for
bear market funds. After bottoming at decade lows, the stock market skyrocketed
and bear funds got clobbered. But not anymore. Bear funds are investments
that, by design, increase in value when the underlying benchmarks they track
decline. Now with the stock market swooning, bear funds are posting huge gains.
Over the past three months, Direxion's 3x daily leveraged bear ETFs for large
cap stocks (NYSEArca: BGZ
- News) is ahead by 42.97%,
mid cap stocks (NYSEArca: MWN
- News) is up 58.30% and small
caps (NYSEArca: TZA - News) is up by 49.76%. Reversing
this ominous trend, especially when key technical levels have been pierced, won't
be easy.
5) Major
asset classes are in correlation.During a bear market, the correlation between asset classes typically
jumps and this is exactly the case right now. Over the past few months,
commodities (NYSEArca: GCC
- News), global real estate
stocks (NYSEArca: RWO - News), precious metals (NYSEArca:
GLTR - News), international stocks
(NYSEArca: EFA - News), and U.S. stocks (NYSEArca:
SCHB - News) have all moved in the same
general direction by recording sizable losses. Even gold (NYSEArca: IAU - News) and silver (NYSEArca: SLV - News), which previously escaped
the wrath of losses, have joined the party. And only cash and bonds (NYSEArca: AGG - News) are bucking the correlation
trend.
6) Pace
of sovereign downgrades is accelerating.We don't advocate putting implicit faith in credit
ratings, because history has taught us they are nothing more than financial
opinions and frequently, not very accurate ones. Still, a gander at the latest
downgrading trend is troublesome. Intuitive observers will note, this is not an
isolated phenomenon, but a global trend. Sovereign debt from Greece and
Portugal, after several downgrades, is now rated junk. Ireland has been
downgraded and Italy was just downgraded by Moody's to A2 with a
negative outlook. Japan, along with U.S. debt was lowered in August and
another wave of more downgrades is coming, so get used to it.
Conclusion
Investing in
an economically stifled climate requires patience, diligence, and
forethought. Following the herd mentality guarantees nothing more
than mediocrity and making kneejerk financial decisions is an excellent
way to lose money. ETFguide's Profit Strategy ETF Newsletter continues to advocate a fiercely
independent view of world events, financial markets, and the proper allocation
of money. Ultimately, having an investment strategy that can perform
during any kind of market is a good start. ‘
Consumer
Spending Slumps In September, Index Showsat Forbes
U.S.
stocks' massive "melt-up" fans investor fears Reuters October 5,
2011, By Edward Krudy NEW YORK (Reuters) - In less than one hour on
Tuesday, the U.S. stock market surged by 4 percent -- for no apparent
reason.The last hour of trading was the most volatile final hour in two months
-- and it occurred at a speed that frightens many, from experienced hedge-fund
managers to mom-and-pop investors.The late-day "melt-up" that pushed
the S&P 500 index (^SPX -
News) out of bear-market
territory might be construed as good news. But it brings back echoes of the
"flash crash" that saw markets dive by several hundred points in a
matter of minutes, and it's a big reason many are staying away from the
market."Everyone is scared in both ways -- the shorts are scared, the longs
are scared, everyone is scared. The high-net-worth investor is very, very
scared," said Stephen Solaka, managing partner at Belmont Capital Group in
Los Angeles, which manages money for independent wealth advisers and family
offices.Tuesday's move was the latest example of an erratic, high-octane stock
market increasingly driven by levered exchange traded funds and complicated
hedging and options strategies that unwind with dizzying speed.It's a far cry
from when the U.S. stock market was viewed as a place for capital-raising by
businesses seeking to expand and a place for investors looking to put their
savings to work."It tends to result in some market participants feeling
like the market is uninvestable. It's not good for mutual funds or hedge
funds," said Michael Marrale, head of sales trading at RBC Capital Markets
in New York.The ostensible reason for Tuesday's move was an article published
late in the day on the Financial Times website quoting the EU's commissioner
for economic affairs, Olli Rehn, saying a plan was being worked out to
recapitalize the region's troubled banking sector.But Reuters reported similar
comments earlier in the day, and Rehn's comments struck some people as covering
old ground. Ken Polcari, a veteran of the NYSE floor at ICAP Equities, found the
reasoning insufficient."There is no clarity -- 'no formal decision' --
just more speculation, more rumors, and more innuendo," he said of the FT
article.
WHAT WENT DOWN
Traders,
analysts and investors interviewed by Reuters cited a number of factors, many
of them technical, and linked to big positions around the 1100 level on the
S&P 500…
BLAST-OFF AT
1,100
The S&P
climbed steadily between 3 p.m. and 3:30 p.m., but once it broke through 1,100,
the gains accelerated, as the average rose 1 percent in the span between 3:39
p.m. and 3:45 p.m.
For Joe
Donohue, money manager at Dimension Trading in Red Bank, New Jersey, the speed
of the reversal was a classic sign of automated algorithmic trading.
"I didn't
know the move was for real until about 3:40 to 3:45, when my machine just lit
up green like a Christmas tree," he said. "That's when you know
there's algo buying dictating the market. It certainly wasn't individual
buyers."
Donohue's
response was to close out short positions and buy a triple-leveraged long exchange
traded fund that magnifies the performance of the Russell 2000 (Chicago
Options:^RUT - News) three times.
The Direxion
Daily Small Cap Bull 3X Shares (Pacific:TNA - News), which had its busiest day
of trading in history on Tuesday, rocketed nearly 20 percent into the close.
That ETF, along with the Proshares Ultrashort S&P 500 ETF (Pacific:SDS - News), another leveraged ETF, are
now often among the top 25 traded issues on U.S. exchanges.
"Program
trading and algorithmic trading was the cause," said Donohue. "We're
seeing moves in a half hour that used to take weeks. Obviously we were very
oversold technically before, and essentially we had a 'melt-up' that was helped
by the algo trading that just went off buying."…’
Moody’s
Cuts Italy’s Credit RatingWall St.
Cheat Sheet
Who
Will Recapitalize the Recapitalizers?
[ Gutenberg of course! Well, just indirectly, historically speaking; the
printing press, that is. The ‘recapitalizer’, brought back to life in the
pervasively corrupt, defacto bankrupt america; bringing home once more that
historic ‘Weimar dollar’, ubiquitously now worldwide. Sounds like a plan!
Straight from planning / design room for the u.s.s. Titanic! ] The Wall Street
Journal Paul Vigna
“Recapitalizing” European banks (the preferred euphemism for bailout,
apparently) in order to stabilize them in the face of “haircuts”
on sovereign debt (the preferred euphemism for losses, obviously) through
a facility like the EFSF risks a spiral that will make the bailouts more
difficult to fund.Capital Economics economist John Higgins writes today
that the bank recapitalization plan that has the market so excited is “unlikely
to draw a line under the crisis.”A recapitalization would allow banks to
withstand a bigger haircut on Greek debt. The trouble is that once Greece gets
a bigger haircut, other sovereign borrowers will want one, too. That could get
expensive in a hurry.The EFSF bailout fund could fill help weaker countries
carry some of that burden, but that will get increasingly problematic.“The more
the EFSF’s funds are used to recapitalize banks, the less it will have to
provide official financing, or to intervene in the debt markets,” Mr. Higgins
writes. “And the more the EFSF is expected to deploy its firepower in
whatever capacity, the more investors will believe it will have to be
leveraged, with the result that its own cost of borrowing could keep
on rising.”
David Stockman: Blame The Fed! Sep 30th, 2011 News (ChrisMartenson.com) — ‘David Stockman, former US Representative and Director of the Office of Management and Budget under Reagan, does not mince words. He sees the monetary systems of the world coming apart.How did we get here? He identifies the root cause as the intentional over-leveraging of world economies by central planners in a misguided effort to enjoy growth without consequence…’
Gov't
report: Fannie knew of 'robo-signing' in '03 - AP
After a Bad Q3, Markets Not Likely to Recover in Q4 Daryl Montgomery, October 3, 2011, ‘The third quarter of 2011 had the biggest drop and most volatility for stocks since 2009. The fourth quarter may not be much better since the cause of the problem is a new credit crisis and an emerging global recession. Both will continue to be a drag on the market.
Train
Reading: That Explains Everythingat
The Wall Street Journal
China’s worsening credit crunch — Pragmatic Capitalism
The Occupy
Wall Street protesters are winning — Josh Brown
The gap
between economic data and sentiment — Abnormal Returns
Recession,
restructuring and the ring fence — John Hussman
WARNING:
Corporate-Fascist Military Coup Brewing in the United States? Tony Cartalucci | Beware of
pretenders supplied by the establishment to “save us” from collapsing system.
Prophets
Of Doom: 12 Shocking Quotes From Insiders The
Economic Collapse Oct 1, 2011 ‘We are getting so close to a
financial collapse in Europe that you can almost hear the debt bubbles
popping. All across the western world, governments and major banks are
rapidly becoming insolvent. So far, the powers that be are keeping all of
the balls in the air by throwing around lots of bailout money. But now
the political will for more bailouts is drying up and the number of troubled
entities seems to grow by the day. Right now the western world is facing
a debt crisis that is absolutely unprecedented in world history. Europe
has had a tremendously difficult time just trying to keep Greece afloat, and
several much larger European countries are now on the verge of a major
financial crisis. In addition, there is a growing number of very large
financial institutions all over the western world that are also rapidly
approaching a day of reckoning. The global financial system is a sea or
red ink, and when we get to the point where there are hundreds of ships going
under how is it going to be possible to bail all of them out? The quotes
that you are about to read show that quite a few top financial and political
insiders know that things cannot hold together much longer and that a horrific
economic crisis is coming. We built the global financial system on a
foundation of debt, leverage and risk and now this house of cards that we have
created is about to come tumbling down.
A lot of
people in politics and in the financial world know what is about to
happen. Once in a while they will even be quite candid about it with the
media.
As I have
written about previously, Europe is on the verge of a financial collapse. If things go really
badly, things could totally fall apart in a few weeks. But more likely it
will be a few more months until the juggling act ends.
Right now, the
banking system in Europe is coming apart at the seams. Because the global
financial system is so interconnected today, when major European banks start to
fail it is going to have a cascading effect across the United States and Asia
as well.
The financial
crisis of 2008 plunged us into the deepest recession since the Great
Depression.
The next
financial crisis could potentially hit the world even harder.
The following
are 12 shocking quotes from insiders that are warning about the horrific
economic crisis that is almost here….
#1 George Soros: “Financial markets are
driving the world towards another Great Depression with incalculable political
consequences. The authorities, particularly in Europe, have lost control of the
situation.”
#2 PIMCO CEO Mohammed El-Erian: “These are all
signs of an institutional run on French banks. If it persists, the banks would
have no choice but to delever their balance sheets in a very drastic and
disorderly fashion. Retail depositors would get edgy and be tempted to follow
trading and institutional clients through the exit doors. Europe would thus be
thrown into a full-blown banking crisis that aggravates the sovereign debt
trap, renders certain another economic recession, and significantly worsens the
outlook for the global economy.”
#3 Attila Szalay-Berzeviczy,
global head of securities services at UniCredit SpA (Italy’s largest bank):
“The only remaining question is how many days the hopeless rearguard action of
European governments and the European Central Bank can keep up Greece’s
spirits.”
#4 Stefan Homburg, the head of
Germany’s Institute for Public Finance: “The euro is nearing its ugly end. A
collapse of monetary union now appears unavoidable.”
#5 EU Parliament Member Nigel Farage: “I think the worst in
the financial system is yet to come, a possible cataclysm and if that happens
the gold price could go (higher) to a number that we simply cannot, at this
moment, even imagine.”
#6 Carl Weinberg, the chief economist at
High Frequency Economics: “At this point, our base case is that Greece will
default within weeks.”
#7 Goldman Sachs strategist Alan Brazil: “Solving a debt problem with more debt has
not solved the underlying problem. In the US, Treasury debt growth financed the
US consumer but has not had enough of an impact on job growth. Can the US
continue to depreciate the world’s base currency?”
#8 International Labour Organization director
general Juan Somavia recently stated that
total unemployment could “increase by some 20m to a total of 40m in G20
countries” by the end of 2012.
#9 Deutsche Bank CEO
Josef Ackerman: “It is an open secret that numerous European banks would
not survive having to revalue sovereign debt held on the banking book at market
levels.”
#10 Alastair
Newton, a strategist for Nomura Securities in London: “We believe that we
are just about to enter a critical period for the eurozone and that the threat
of some sort of break-up between now and year-end is greater than it has been
at any time since the start of the crisis”
#11 Ann Barnhardt, head of Barnhardt Capital Management,
Inc.: “It’s over. There is no coming back from this. The only thing that can
happen is a total and complete collapse of EVERYTHING we now know, and humanity
starts from scratch. And if you think that this collapse is going to play out
without one hell of a big hot war, you are sadly, sadly mistaken.”
#12 Lakshman Achuthan of ECRI: “When
I call a recession…that means that process is starting to feed on itself, which
means that you can yell and scream and you can write a big check, but it’s not
going to stop.”
*****
In my opinion,
the epicenter of the “next wave” of the financial collapse is going to be in
Europe. But that does not mean that the United States is going to be
okay. The reality is that the United States never recovered from the last
recession and there are already a lot of signs
that we are getting ready to enter another major recession. A major
financial collapse in Europe would just accelerate our plunge into a new economic
crisis.
If you want to
read something that will really freak you out, you should check out what Dr.
Philippa Malmgren is saying. Dr. Philippa Malmgren is the President and
founder of Principalis Asset Management. She is also a former member of
the Bush economic team. You can find her bio right
here.
Malmgren is
claiming that Germany is seriously considering bringing back the
Deutschmark. In fact, she claims that Germany is very busy printing new
currency up. In a list of things that we could see
happen over the next few months, she included the following….
“The Germans announce they are re-introducing the Deutschmark.
They have already ordered the new currency and asked that the printers hurry
up.”
This is quite a claim for someone to be making.
You would think that someone that used to work in the White House would not
make such a claim unless it was based on something solid.
If Germany did decide to leave the euro, you would
see an implosion of the euro that would be truly historic.
But as I have written about previously, it should not
surprise anyone that theend of the euro is being talked about because the
euro simply does not work.
The only way that the euro would have had a chance of
working is if all of the governments using the euro would have kept debt levels
very low.
Unfortunately, the financial systems of the western
world are designed to push governments into high levels of debt.
The truth is that the euro was doomed from the very
beginning.
Now we are approaching a day of reckoning. We
have been living in the greatest debt bubble in the history of the world, but
the bubble is ending. There are several ways that the powers that be
could handle this, but all of them will lead to greater financial instability.
In the end, we will see that the debt-fueled
prosperity that the western world has been enjoying for decades was just an
illusion.
Debt is a very cruel master. It will almost
always bring more pain and suffering than you anticipated.
It is easy to get into debt, but it can be very
difficult to get out of debt.
There is no way that the western world can unwind
this debt spiral easily.
The only way that another massive economic crisis can
be put off for even a little while would be for the powers that be to “kick the
can down the road” a little farther by creating even more debt.
But in the end, you can never solve a debt problem
with more debt.
The next several years are going to be an incredibly
clear illustration of why debt is bad.
When the dominoes start to fall, we are going to
witness a financial avalanche which is going to destroy the finances of
millions of people.
You might want to try to get out of the way while you
still can.’
The IMF
expects the U.S. economy to grow just 1.5 percent this year and 1.8 percent in
2012. That's down from its June forecast of 2.5 percent in 2011 and 2.7 percent
next year.
To achieve
even that still-low level of growth, the U.S. economy would need to expand at a
much faster rate in the second half of the year than its 0.7 percent annual
pace in the first six months.
Most
economists expect growth of between 1.5 percent and 2 percent in the final two
quarters. Though an improvement, it wouldn't be enough to lower the
unemployment rate. The rate has been 9 percent or higher in all but two months
since the recession officially ended more than two years ago.
"The
global economy has entered a dangerous new phase," said Olivier Blanchard,
the IMF's chief economist. "The recovery has weakened considerably. Strong
policies are needed to improve the outlook and reduce the risks."
The IMF has
also lowered its outlook for the 17 countries that use the euro. It predicts
1.6 percent growth this year and 1.1 percent next year, down from its June
projections of 2 percent and 1.7 percent, respectively.
The gloomier
forecast for Europe is based on worries that euro nations won't be able to
contain their debt crisis and keep it from destabilizing the region.
"Markets
have clearly become more skeptical about the ability of many countries to
stabilize their public debt," Blanchard said. "Fear of the unknown is
high."
Overall, the
IMF predicts global growth of 4 percent for both years. Stronger growth in
China, India, Brazil and other developing countries should offset weaker output
in the United States and Europe.
Financial
turmoil and slow growth are feeding on each other in both the United States and
Europe, IMF officials say. Europe's debt crisis is causing banks to reduce
lending and hold onto cash. Sharp stock market drops in the United States over
the summer have hurt consumer and business confidence and will likely reduce
spending. That slows growth, which leads many investors to shift money out of
stocks and into safer investments, such as Treasury bonds.
In Europe,
slower growth will make it harder for stressed nations to get their debt under
control.
U.S. and
European policymakers must act more decisively to cut budget deficits, the IMF
said.
European banks
need to boost their capital buffers more quickly and beyond new minimum levels
set to come into force in 2019, the IMF said.
European banks
have seen their stocks slide sharply this summer on fears that their exposure
to the government debt of shaky countries like Greece could result in big
losses.
Having extra
capital would bolster confidence in the banking sector and shield Europe's
economy from the impact of jitters in financial markets.
The U.S.
economy faces longer-lasting problems that go beyond high gas prices and
disruptions caused by the Japan crisis, the IMF said.
Employers are
adding few jobs and giving out meager pay raises. Many homeowners owe more on
their mortgages than their homes are worth. Banks are keeping credit tight.
All those
trends are holding back consumer spending. Unemployment is likely to average 9
percent next year, the IMF's report said, echoing a recent estimate by the
Obama administration.
President
Barack Obama's proposal to cut taxes and spend more on infrastructure should
provide much-needed short-term stimulus, the IMF said. But it needs to be
paired with a longer-term plan to reduce the deficit over, the report said. The
timing of the budget cuts is key, Blanchard said.
Budget cuts
"cannot be too fast or it will kill growth," Blanchard said in a
statement. "It cannot be too slow or it will kill credibility."
President
Obama on Monday proposed more than $3 trillion of tax increases and spending
cuts over 10 years. His proposal will be considered by a congressional panel
charged with finding $1.5 trillion in deficit reduction this year.
Both Obama's
jobs proposal and the tax increases face stiff opposition from Republicans.
They oppose any tax increases and have strongly criticized the president's
plans.
The 187-member
nation fund conducts economic analysis and lends money to countries in
financial distress. It will hold its annual meetings with the World Bank later
this week in Washington.
Associated
Press Writer Gabriele Steinhauser contributed to this report from Brussels.’
Low
Interest Rates: Perma-Expectations No More at Minyanville
Wall
St. Cheat Sheet: Italy Gets Axed, Netflix in Free Fall, Housing Starts Drop
Wall St Cheat Sheet September
20, 2011, ‘The
Dow Jones Industrial Average and U.S. stocks are in the green after Wall
Street suddenly got more confident Greece will get aid and Ben Bernanke will be
forced to add more welfare, I mean stimulus, to the economy.Standard &
Poor’s cut
Italy’s credit rating late Monday by one level to A from A+, citing
weak economic growth and criticizing Rome’s response to the debt crisis. Italian
Prime Minister Silvio Berlusconi responded, saying that the move was influenced
by “political considerations” and media stories rather than economic reality.
While more building permits in the U.S. were authorized in August
than in July,
housing starts and completions both declined last month.
A
Fed IOER Cut Could Backfire on Banks, Warns Pimco at The Wall Street Journal
Low
Interest Rates: Perma-Expectations No More at Minyanville Howard Simons Sep 20, 2011 ‘Regarding
interest rates, one major difference between the US and Japan is that their
perma-expectations started to disappear in a rising short-term rate
environment; US rates have yet to rise. All of the recent news surrounding
Steve Jobs’ departure from Apple prompted me to remark, “He has a strange
opportunity to read his own obituary.” For the most part, he would have to be
pleased at all of the genuine praise heaped on him.
This prompted me to wonder about what I would want on my tombstone other than,
“He should’ve known better.” One candidate could be, “He used the word
‘swaption’ on a popular website and got away with it.” I did; most recently in
a discussion of the Federal Reserve’s credibility to keep on doing the
incredible, keeping interest
rates near zero through 2013 (see Is FOMC's Pledge to Keep Short-Term Interest Rates Low Until
2013 Believable?).
Forward Rates When the Future Is Now
Can the swaption conclusion be confirmed by another indicator? Yes; let’s
return to a thread last updated in December 2010 (see Is This the End of the Money-Printing Era?) on the
relationship between the forward rates between six and nine months and the
actual three-month rate as it arrives six months later. If the gap between
expectation and reality is high, it means the market has been fooled again in
its expectations that low short-term interest rates must be headed in one
direction, higher. The opposite has been observed in practice, too; markets can
incorrectly price in expectations for low short-term rates and get whacked
upside the head by reality.
Where are we today? The expectations gap, marked with roseate columns, is
shrinking, although it is still at levels unprecedented until the adoption of
zero interest
rate policies (ZIRP) in December 2008. This is the same thing
as saying forward rates are in the process of declining to levels that will be
matched by actual three-month rates six months from now. If you are keeping
track of these months by counting on your fingers, we see you.
http://image.minyanville.com/assets/FCK_Jan2011/Image/JimE/Simongraph1.jpg
The chart above uses weekly data.
Let’s go down to daily data for the period following the end of QE1. Two dates
are marked, one when the debt ceiling debate in July was taking the ominous
course toward default and one just after the August FOMC meeting. Both
developments put the market on course toward accepting that low rates were
going to be here for awhile; the intractable federal debt can be serviced only
at low levels without doing something really, really stupid like cutting
out-of-control spending.
http://image.minyanville.com/assets/FCK_Jan2011/Image/JimE/Simongraph2.jpg
Where To Now?
Japan has had a much longer experience with these low rates and one attempt,
between November 2005 and July 2006, to start moving away from them. One major
difference between the U.S. and Japan here is that their perma-expectations
started to disappear in a rising short-term rate environment; our rates have
yet to rise. Still, the Japanese attempt failed as the hint of higher interest
rates caused yen carry trades
to start unwinding around the world. Once low interest rates become embedded in
an economy, they are very hard to increase without stress.
Despite the failures of QE1 and QE2 and the impending failure of whatever they
announce next, the Federal Reserve has convinced itself they are doing
something right. How would “They never learned from their mistakes” look on
their tombstone?’
Is This the End of the Money-Printing Era? Howard Simons Dec 01, 2010 ‘If monetary
stimulus ends and we start recognizing losses rather than trying to roll them
forward, we can lay the foundation for a new era of prosperity. [Note the date
and hence Simons’ wisdom! Yet, the postponement / delay has substantially
impaired that ‘prosperity part’ going forward.]
‘Of all the negative human emotions, the
feeling you have been had is one of the worst. We all have heard the adage,
“Fool me once, shame on you; fool me twice, shame on me,” and if I had a nickel
for every time I have heard “Won’t Get Fooled Again,” both former President
Bush and I would have a lot of nickels.
Well, it is red-face time: Even though the Federal Reserve has been on a
mission-from-wad since August 17, 2007, the date when they executed a premarket
rate cut in the target federal funds rate, to 6.00%, and even though they had
already executed QE1 and were three months away from hinting at QE2, they
managed to drive short-term interest
rates unexpectedly low by the end of July. This is after I
wrote, Short-Term Interest Rates No Longer Unexpectedly Low in
May.
Let’s update that piece in light of what I have to admit was, in technical
terms, a pretty good stunt on their part. First, a review: If we take the
forward rate of LIBOR between six and nine months (FR6,9); that is,
the rate at which we can lock in borrowing for three months starting six months
from now, we have the market’s hedgeable measure of where rates will be. I
cannot emphasize strongly enough that this is not an interest
rate forecast, but a rate at which two parties can do
business and presumably both make a profit given this locked-in rate. This can
be compared to what the actual three-month rate was six months later.
That “expectations gap” is depicted in the roseate columns below. The December
2008 and March 2009 dates when the US first went to zero interest rates and
quantitative easing, respectively, are marked with orange and violet vertical
lines; both the July 30 and the last datum are highlighted with bright-red
columns.
http://image.minyanville.com/assets/FCK_May2009/Image/LisaCatch%20September2010/plainsight.jpg
The chart above is done at a weekly frequency and is long-term to demonstrate
how unusual the last two years have been in the ability of three-month rates to
trade
well below the market’s expectations from six months ago. Let’s shorten the
time frame and move to a daily frequency.
http://image.minyanville.com/assets/FCK_May2009/Image/LisaCatch%20September2010/plainsight2.jpg
Two points are marked in black on this chart, one in mid-July when I identified
the market’s demand for lower short-term interest rates and the
August 27, 2010 date of Ben Bernanke’s Jackson Hole speech promising new asset
highs if he could drive money to new lows.
The market took the bait, as we all know, and rallied strongly into the actual
announcement of QE2 whereupon a large number of FOMC officials and foreign
poo-bahs started wandering around like the somnambulant Lady Macbeth or Alec
Guinness’ Colonel Nicholson in The Bridge on the River Kwai wondering,
“What have I done?”
You counterfeited the US dollar to a fare-thee-well, that’s what you have done.
Didn’t you think about this beforehand?
We have seen twice in the past two years how mainlining some high-grade
monetary heroin can lead to higher returns for risky assets; this should be
about as surprising as learning nitroglycerin can be noisy when handled
improperly. Now that we are into QE2 and our friends in the European Monetary
Union are about to reprise their May stunt of backstopping Greece by
backstopping Ireland -- it will take them a long time to form a circle, sing kumbaya
in their various languages and have each of the 16 members of the euro rescued
in turn -- we have to wonder if we are at last at the end of the line for
monetary stimulus. Methinks we are.
The implications are not as dire as they may sound. If the end of the
printing-press era means we do what we should have started doing in 2007 --
recognizing losses rather than trying to roll them forward -- we can lay the
foundation for a new era of prosperity. It would be the right thing to do.’
IMF
Cuts Global Growth Outlook, Warns About U.S. Deficits, Euro Banks at Forbes ‘The International Monetary Fund dialed back
its outlook for the global economy Tuesday, and now projects
worldwide growth of 4% in 2011 and 2012, down from 5% in 2010.
Some slowdown
was anticipated, but the IMF expected it to come from an unwind of the
unprecedented stimulus efforts launched to counteract the financial crisis over
the last three years. Instead, “a barrage of economic shocks in 2011
combined with other factors for a worse than anticipated outcome.”
Chief
economist Olivier Blanchard warned that “strong policies are urgently needed to
improve the outlook and to reduce the risks,” and the IMF said the economy is
in “a dangerous new phase” marked by weaker activity and a sharp decline in
confidence.
Gallery:
The IMF’s 2012 Growth Forecast
Tuesday’s
report comes as the Federal Reserve begins a two-day meeting at which Chairman
Ben Bernanke is likely to meet resistance if he pushes for further intervention
along the lines of additional Treasury purchases, following an August meeting
that saw three dissents from the central bank’s decision to target a 0%
benchmark interest rate until mid-2013.
Meanwhile,
European leaders are still trying to find a solution that will keep Greece from
defaulting and keeping the debt crisis outside of core Europe. (See “Europe Needs A TARP.”)
One could be
forgiven if it seems like pundits and policymakers are talking out of both
sides of their mouth, urging further aid for scuffling economies while at the
same time preaching that countries need to get religion on long-term debts.
Gallery:
The IMF’s 2012 Growth Forecast
The IMF offered
its view on the forceful actions that policymakers in developed economies
should undertake:
• In the euro area, banks must be made
stronger, not only to avoid deleveraging and maintain growth, but also, and
more importantly, to reduce risks of vicious feedback loops between low growth,
weak sovereigns, and weak banks. This requires additional capital buffers, from
either private or public sources.
• The top
priorities in the United States
include devising a medium-term fiscal consolidation plan to put public debt on
a sustainable path and to implement policies to sustain the recovery, including
by easing the adjustment in the housing and labor markets. The new American
Jobs Act would provide needed short-term support to the economy, but it must be
flanked with a strong medium-term fiscal plan that raises revenues and contains
the growth of entitlement spending.
• In Japan, the government should
pursue more ambitious measures to deal with the very high level of public debt
while attending to the immediate need for reconstruction and development in the
areas hit by the earthquake and tsunami.
The updated forecast anticipates U.S. growth of just
1.5% in 2011 and 1.8% in 2012, with euro area growth of 1.6% this year falling
to 1.1% next year. Emerging and developing economies will also grow slower than
previously anticipated, but remain the workhorses of global growth, the IMF
anticipates. China is expected to grow at a better than 9% clip this year and
next, while Brazil is expected to maintain annual growth better than 3.5%.
Gold shot higher on the IMF’s sober growth outlook, adding $24.50 to $1,803.40
an ounce. U.S. stocks righted themselves after a choppy start, buy fell from
their best levels of the day in the final hour of trade with the Dow Jones
industrial average up 57 points to 11,458 and the S&P 500 2 points higher
at 1,206. The Nasdaq slipped into the red, down 16 points, to 2,597.
Gallery:
The IMF’s 2012 Growth Forecast
Financial stocks, a major drag on the market
seemingly every time there is a negative headline out of Europe, sank as the
broader market pulled back. Bank of America, JPMorgan Chase and Morgan Stanley surrendered earlier gains, while Wells Fargo and American Express held onto gains better than 1.75%.
http://blogs-images.forbes.com/steveschaefer/files/2011/09/IMF-Growth-Outlook.jpg ‘
Morning Snapshot Sep 20th, 2011 08:32 by News (USAGOLD) — ‘..The IMF slashed
both global and US growth expectations this morning: The IMF now believes the
global economy will grow just 4% this year and next, a negative revision from
their June estimates of 4.3% for 2011 and 4.5% next year. IMF cut its US growth
forecasts to 1.5% for this year, versus 2.5% previously and 1.8% for 2012,
versus 2.7% previously. The IMF’s confirmation of growth risks intensifies
expectations that the Fed will be forced to offer additional accommodations
when the 2-day FOMC meeting concludes tomorrow.
• US housing
starts -5.0% to 571k pace in Aug, well below market expectations of 593k, vs
negative revised 601k in Jul.
• Canada leading indicator flat in Aug, above market expectations of -0.1%, vs
+0.1% in Jul.
• Canada wholesale trade +0.8% in Jul, just above expectations, vs flat in Jun.
• Switzerland trade balance CHF0.8 bln in Aug, vs 2.825 bln in Jul.
• Sweden GDP – Final (sa) revised down to 0.9% in Q2, just below market
expectations, vs 1.0% previously.
• Italy industrial orders (sa) +1.8% m/m in Jul, vs 4.1% in Jun; 6.5% y/y.
• Germany PPI -0.3% m/m in Aug, below market expectations of 0.2%, vs 0.7% in
Jul; 5.5% y/y.
• Germany ZEW economic sentiment falls to -43.3 in Sep, below market
expectations, vs -37.6 in Jul; Current situation drops to 43.6 from 53.5.
• Japan leading index (revised) 2.6 m/m in Jul, vs 2.7 previously.’
Eurozone
debt crisis threatens banks, rest of world: IMF Economic Times | The eurozone’s debt
mountain poses a threat to the world economy.
America’s
debt woe is worse than Greece’s Sep 21st, 2011 News (CNN) — Our government is
utterly broke. There are signs everywhere one looks. Social Security can no
longer afford to send us our annual benefit statements. The House can no longer
afford its congressional pages. The Pentagon can no longer afford the pension
and health care benefits of retired service members. NASA is no longer planning
a manned mission to Mars. We’re broke for a reason. We’ve spent six decades
accumulating a huge official debt (U.S. Treasury bills and bonds) and vastly
larger unofficial debts to pay for Social Security, Medicare, and Medicaid
benefits to today’s and tomorrow’s 100 million-plus retirees. The government’s
total indebtedness — its fiscal gap — now stands at $211 trillion, by my arithmetic. [source]
$16 muffins,
$8 coffee served in Justice audit
Holders of Sovereign Debt
Sep 21st, 2011 News by
Global Macro Monitor (CreditWritedowns.com) — Here’s a great chart just
released by the International Monetary Fund. Note that almost half — 47 percent
– of the US$14.7 trillion U.S. federal government debt is held by the Federal
Reserve and the government itself, such as the Social Security trust fund. Add
to that the 22 percent foreign official holdings (mainly central banks) and
almost 70 percent of the debt of the U.S. government is held by
non-market/non-profit oriented investors. Stunning! [source]
http://www.albertpeia.com/holders-of-sovereign-debt.jpg
PG View: I would argue
that “non-market/non-profit oriented investors” own the vast majority of
government debt, because the risk/reward ratios have been so grossly distorted
by government and central bank interventions that real investors have no
interest is such assets. And it sure looks like official efforts to continue
mispricing risk are going to continue.
U.S.
Household Worth Declines by $149 Billion Sep 16th, 2011 14:32 by News (Bloomberg) — ‘ Household wealth
in the U.S. dropped in the second quarter for the first time in a year, hurt by
falling share prices and declining home values.Net worth for households and
non-profit groups decreased by $149 billion, a 1 percent drop at an annual
pace, to $58.5 trillion, the Federal Reserve said today in its flow of funds
report from Washington. It rose at a 7.4 percent rate in the previous three
months. Housing wealth decreased for a fourth consecutive quarter from April to
June. [source]
US
taxpayers could be on hook for Europe bailout Sep 16th, 2011 13:01 by News (MSNBC) — The U.S. is coming to
Europe’s financial rescue.So far, America’s role is fairly limited. But if the
crisis continues to grow and the U.S. takes on a wider role, U.S. consumers and
taxpayers could feel a bigger impact. The biggest exposure could come from
America’s status as the single largest source of money for the International Monetary
Fund.The latest round of American financial assistance came Thursday with a
promise by the Federal Reserve to swap as many dollars for euros as European
bankers need. In the short run, those transactions won’t have much impact
because the central banks are simply swapping currencies of equal value. If the
move helps avert a wider crisis, it could help spare the global economy from
another recession.But over the long term, consumers could feel the impact of
central bankers flooding the financial system with cash, according to John
Ryding, chief economist at RDQ Economics.[source]
A Band-Aid for a
cancer patient Sep 16th, 2011 12:48 by News (papermoneycollapse.com) — This was another hectic
week for financial markets, and nerves were calmed somewhat over the past 24
hours with another liquidity injection from the central banks – this time the
provision of dollars from the U.S. Fed channelled through a few other central
banks, most importantly the ECB. This is certainly not a solution but again the
doctoring of symptoms. Pumping ever more fiat money into the system to avoid –
or rather postpone – a much needed recalibration will not solve the underlying
malaise. Four years into the crisis the banks still need emergency funding. That
is a damning indictment that financial structures are far from sustainable.…A
default of Greece now appears very likely. This is a positive development.
Positive as it points toward shrinkage – toward smaller debt, toward a smaller
Greek state, toward an important lesson for banks: Don’t think that lending to
the state is without risk!…The biggest risk to the euro is not a Greek default
but the markets waking up to the bleak long-term outlook for the solvency of
the core, Germany and France.…Thus, we will get some liquidation (Greek debt)
but also some re-liquefying (big banks). It will not be the end of the euro –
but not the end of the financial crisis either.[source]
PG View: I concur with this assessment. The contingency plan
to protect the German banks is presumably in place. Liquidity lines have been
established. Payment of the next bailout tranche for Greece has been
forestalled until October. Seems like Greece is about to get pitched under the
bus…
Consumer
Hope for Future Hits Lowest Level Since 1980 Sep 16th, 2011 10:52 by News (CNBC). [source]
China
to ‘liquidate’ US Treasuries, not dollars Sep 16th, 2011 10:21 by News By Ambrose Evans-Pritchard (The
Telegraph) — The debt markets have been warned.A key rate setter-for China’s
central bank let slip – or was it a slip? – that Beijing aims to run down its portfolio of US debt as
soon as safely possible.“The incremental parts of our of our
foreign reserve holdings should be
invested in physical assets,” said Li Daokui at the World
Economic Forum in the very rainy city of Dalian – former Port Arthur from
Russian colonial days.“We would like to buy stakes in Boeing, Intel, and Apple,
and maybe we should invest in these types of companies in a proactive way.”“Once the US Treasury market stabilizes we can
liquidate more of our holdings of Treasuries,” he said.[source]
PG View: Out of US Treasuries and into more “physical
assets.” Physical assets like gold perhaps?
Europe
Ministers Rule Out Stimulus, Offer No Bank Aid Sep 16th, 2011 09:49 by News (Bloomberg) — ..
PG View: Basically, another meeting with no substantive
moves to alter the course that Europe is on. There will be no fiscal stimulus.
We’re going to defer any decision on Greece until next month, when the country
will be once again on the precipice of default.
The Fed’s shadow TARP News by Sen. Jim DeMint August 31 (Politico) — ‘In the
run-up to the financial crisis, the Federal Reserve fueled the housing bubble
with its easy money policy. Now, we know that after the crisis struck, the Fed
secretly propped up elite bankers all the way from Wall Street to Brussels to the
Central Bank of Libya.A Bloomberg news investigation found that while the
Treasury Department was pumping $700 billion into banks under the Troubled
Asset Relief Program, the Fed was covertly operating its own bailout program –
the biggest in American history. The Fed’s Shadow TARP issued $1.2 trillion in
loans to domestic and foreign banks from 2007 to 2010, far more than Congress
authorized Treasury to spend under TARP.…Congress eventually approved a partial
audit that showed the Fed extended an incredible $16 trillion – more than the entire U.S. economy – in aggregate
lending authority to foreign and domestic banks from the end of 2007 to the
middle of 2010…After the second round of quantitative easing was announced,
Chinese Vice Finance Minister Zhu Guangyao said America “does not recognize, as
a country that issues one of the world’s major reserve currencies, its
obligation to stabilize capital markets.”German Finance Minister Wolfgang
Schaeuble was more blunt, calling the Fed “clueless.” [source]’
Global
Recession Likely, Depression Possible: Economist Aug 31st, 2011 by News (CNBC) — ‘Global recession in 2012 is “65 to 75
percent certain” and could deteriorate into a lengthy depression, Roger
Nightingale, economist and strategist at RDN Associates, told CNBC.The peak
rate of growth for the world’s economy occurred more than 12 months ago and “it
carries on going down,” Nightingale said. “We are probably going into negative
territory around spring of next year; it is not for certain, but that is the
most likely scenario. I would say the recession is 65 percent, 75 percent certain.”The
economist warned that should recession kick in, the global economy might be too weak to
generate any GDP growth for years, or even decades.’
Morning Snapshot News August 31 (USAGOLD) — ‘Gold is modestly lower this
morning, but still generally well bid amid rising expectations that the Fed is
preparing to ease once again. The St. Louis Fed’s Bullard was hinted in the
Japanese press that the Fed may indeed embark on QE3, depending on upcoming
data. Bullard added a caveat, saying that it should be confirmed that inflation
has eased first. These comments come on the heals of very dovish Fedspeak by
Chicago Fed’s Evans on Tuesday.
Today’s weaker
that expected ADP employment index may further temper expectations for Friday’s
August nonfarm payrolls report. Consensus is running around +93k, following the
+117k print for Jul. The unemployment rate is expected to remain unchanged at
9.1%.
• US ADP
employment index rose 91k in Aug, below market expectations of 100k, vs
negative revised 109k in Jul.
• Canada Q2 GDP -0.4%, below market expectations of +0.1%, vs +3.6% in Q1. GDP
+0.2% in Jun, vs -0.3% in May.
• UK GfK consumer confidence fell to -31 in Aug, above market expectations of
-33, vs -30 in Jul.
• Italy CPI – EU Harmonized (prelim) rose to 2.2% y/y in Aug; +0.3% m/m.
• Italy PPI rose to 4.7% y/y in Jul, vs 4.3% in Jun; +0.3% m/m.
• German retail sales unch m/m in Jul, better than market expectations of
-2.0%, vs big downward revision to 4.5% in Jun; -1.6% y/y.
• German unemployment rate unchanged at 7.0% (sa) in Aug, in-line with
expectations.
• Eurozone unemployment rate unchanged in Jul at 10.0%, above market
expectations, vs upward revised 10.0% in Jun.
• South Korea industrial production +3.8% y/y in Jul, vs 6.5% in Jun.
• Japan industrial production (prelim) +0.6% m/m (sa) in Jul, well below market
expectations, vs 3.8% in Jun.
• Japan Markit/JMMA PMI falls to 51.9 in Aug, vs 52.1 in Jul.
• Japan construction orders +5.7% y/y in Jul, vs +6.0% in Jun.
Most of the
worst financial panics in history have happened in the fall. Just recall
what happened in 1929, 1987 and 2008. Well, September 2011 is about to
begin and there are all kinds of signs that the financial world is about to hit
the big red panic button. Wave after wave of bad economic news has come
out of the United States recently, and Europe is embroiled in an absolutely
unprecedented debt crisis. At this point there is a very real possibility
that the euro may not even survive. So what is causing all of this?
Well, over the last couple of decades a gigantic debt bubble has fueled a
tremendous amount of “fake prosperity” in the western world. But for a
debt bubble to keep going, the total amount of debt has to keep expanding at an
ever increasing pace. Unfortunately for the global economy, sources of
credit are starting to dry up. That is why you hear terms like “credit
crisis” and “credit crunch” thrown around so much these days. Without
enough credit to feed the monster, the debt bubble is going to burst. At
this point, virtually the entire global economy runs on credit, so when this
debt bubble bursts things could get really, really messy.
Nations and
financial institutions would never get into debt trouble if they could always
borrow as much money as they wanted at extremely low interest rates. But
what has happened is that lending sources are balking at continuing to lend
cheap money to nations and financial institutions that are already up to their
eyeballs in debt.
For example,
the yield on 2 year Greek bonds is now over 40 percent. Investors don’t
trust the Greek government and they are demanding a huge return in order to
lend them more money.
Throughout the
financial world right now there is a lot of fear. Lending conditions have
gotten very tight. Financial institutions are not eager to lend money to
each other or to anyone else. This “credit crunch” is going to slow down
the economy. Just remember what happened back in 2008. When easy
credit stops flowing, the dominoes can start falling very quickly.
Sadly, this is
a cycle that can feed into itself. When credit is tight, the economy
slows down and more businesses fail. That causes financial institutions
to want to tighten up things even more in order to avoid the “bad credit
risks”. Less economic activity means less tax revenue for
governments. Less tax revenue means larger budget deficits and increased
borrowing by governments. But when government debt gets
really high that can cause huge economic problems like we are witnessing in
Greece right now. The cycle of tighter credit and a slowing economy can
go on and on and on.
I spend a lot
of time talking about problems with the U.S. economy, but the truth is that
the rest of the world is dealing with massive problems as well right now.
As bad as things are in the U.S., the reality is that Europe looks like it may
be “ground zero” for the next great financial crisis.
At this point
the EU essentially has three choices. It can choose much deeper economic integration
(which would mean a huge loss of sovereignty), it can choose to keep the status
quo going for as long as possible by providing the PIIGS with gigantic
bailouts, or it can choose to end of the euro and return to individual national
currencies.
Any of those
choices would be very messy. At this point there is not much political
will for much deeper economic integration, so the last two alternatives appear
increasingly likely.
In any event,
global financial markets are paralyzed by fear right now. Nobody knows
what is going to happen next, but many now fear that whatever does come next
will not be good.
The following
are 25 signs that the financial world is about to hit the big red panic
button….
#1 According to a new study just released by Merrill
Lynch, the U.S. economy has an 80% chance of going into another
recession.
#2 Will Bank of America be the next Lehman
Brothers? Shares of Bank of America have fallen more than 40% over the past couple of
months. Even though Warren Buffet recently stepped in with 5 billion
dollars, the reality is that the problems for Bank of America are far from
over. In fact, one analyst is projecting that Bank of America is going to
need to raise 40 or 50 billion dollars
in new capital.
#3 European bank stocks have gotten absolutely hammered in recent
weeks.
#4 So far, major international banks have announced
layoffs of more than 60,000 workers,
and more layoff announcements are expected this fall. A recent
article in the New York Times
detailed some of the carnage….
A new wave of layoffs is emblematic of this shift as nearly
every major bank undertakes a cost-cutting initiative, some with names like
Project Compass. UBS has announced 3,500 layoffs, 5 percent of its staff, and
Citigroup is quietly cutting dozens of traders. Bank of America could cut as
many as 10,000 jobs, or 3.5 percent of its work force. ABN Amro, Barclays, Bank
of New York Mellon, Credit Suisse, Goldman Sachs, HSBC, Lloyds, State Street
and Wells Fargo have in recent months all announced plans to cut jobs — tens of
thousands all told.
#5
Credit markets are really drying up. Do you remember
what happened in 2008 when that happened? Many are now warning that we
are getting very close to a repeat of that.
#6
The Conference Board has announced that the U.S. Consumer Confidence Index fell
from 59.2 in July to 44.5 in August. That is
the lowest reading that we have seen since the last recession ended.
#7
The University of Michigan Consumer Sentiment Index has fallen by almost 20 points over the
last three months. This index is now the lowest it has beenin 30 years.
#8
The Philadelphia Fed’s latest survey of regional manufacturing activity was absolutely nightmarish….
The survey’s broadest measure of manufacturing conditions, the
diffusion index of current activity, decreased from a slightly positive reading
of 3.2 in July to -30.7 in August. The index is now at its lowest level since
March 2009
#9
According to Bloomberg,
since World War II almost every time that the year over year change in real GDP
has fallen below 2% the U.S. economy has fallen into a recession….
Since 1948,
every time the four-quarter change has fallen below 2 percent, the economy has
entered a recession. It’s hard to argue against an
indicator with such a long history of accuracy.
#10
Economic sentiment is falling in Europe as well. The following is
from a recent Reuters article….
A monthly European Commission survey showed economic sentiment
in the 17 countries using the euro, a good indication of future economic
activity, fell to 98.3 in August from a revised 103 in July with optimism
declining in all sectors.
#11
The yield on 2 year Greek bonds is now an astronomical 42.47%.
#12
As I wrote about recently, the European
Central Bank has stepped into the marketplace and is buying up huge amounts of
sovereign debt from troubled nations such as Greece, Portugal, Spain and
Italy. As a result, the ECB is alsomassively overleveraged at
this point.
#13
Most of the major banks in Europe are also leveraged to the
hilt and have tremendous exposure to European sovereign debt.
#14
Political wrangling in Europe is threatening to unravel the Greek bailout
package. In a recent article, Satyajit Das described what has been going on behind
the scenes in the EU….
The sticking point is a demand for collateral for the second
bailout package. Finland demanded and got Euro 500 million in cash as security
against their Euro 1,400 million share of the second bailout package. Hearing
of the ill-advised side deal between Greece and Finland, Austria, the
Netherlands and Slovakia also are now demanding collateral, arguing that their
banks were less exposed to Greece than their counterparts in Germany and France
entitling them to special treatment. At least, one German parliamentarian has
also asked the logical question, why Germany is not receiving similar
collateral.
#15
German Chancellor Angela Merkel is trying to hold the Greek bailout deal
together, but a wave of anti-bailout “hysteria” is sweeping Germany, and nowaccording to
Ambrose Evans-Pritchard it looks like Merkel may not have enough votes to
approve the latest bailout package….
German media reported that the latest tally of votes in the
Bundestag shows that 23 members from Mrs Merkel’s own coalition plan to vote
against the package, including twelve of the 44 members of Bavaria’s Social
Christians (CSU). This may force the Chancellor to rely on opposition votes,
risking a government collapse.
#16
Polish finance minister Jacek Rostowski is warning that the status quo in
Europe will lead to “collapse“. According to Rostowski, if the EU does not
choose the path of much deeper economic integration the eurozone simply is not
going to survive much longer….
“The choice is: much deeper macroeconomic integration in the
eurozone or its collapse. There is no third way.”
#17
German voters are against the introduction of “Eurobonds” by about a 5 to 1 margin,
so deeper economic integration in Europe does not look real promising at this
point.
#18
If something goes wrong with the Greek bailout, Greece is financially
doomed. Just consider the following excerpt from a recent article by
Puru Saxena….
In Greece, government debt now represents almost 160% of GDP and
the average yield on Greek debt is around 15%. Thus, if Greece’s debt is rolled
over without restructuring, its interest costs alone will amount to
approximately 24% of GDP. In other words, if debt pardoning does not occur,
nearly a quarter of Greece’s economic output will be gobbled up by interest
repayments!
#19
The global banking system has a total of 2 trillion dollars of exposure to Greek, Irish,
Portuguese, Spanish and Italian debt. Considering how much the global
banking system is leveraged, this amount of exposure could end up wiping out a
lot of major financial institutions.
#20
The head of the IMF, Christine Largarde, recently warned that European banks
are in need of “urgent recapitalization“.
#21
Once the European crisis unravels, things could move very rapidly
downhill. In a recent article, John
Mauldin put it this way….
It is only a matter of time until Europe has a true crisis,
which will happen faster – BANG! – than any of us can now imagine. Think Lehman
on steroids. The U.S. gave Europe our subprime woes. Europe gets to repay the
favor with an even more severe banking crisis that, given that the U.S. is at
best at stall speed, will tip us into a long and serious recession. Stay tuned.
#22
The U.S. housing market is still a complete and total mess. According to
a recently released report, U.S. home prices fell 5.9% in the second quarter compared
to a year earlier. That was the biggest decline that we have seen since
2009. But even with lower prices very few people are buying.
According to the National Association of Realtors, sales of previously owned
homesdropped 3.5 percent during
July. That was the third decline in the last four months. Sales of
previously owned homes are even lagging behind last year’s pathetic pace.
#23
According to John Lohman, the decline in U.S. economic data over the past three
months has been absolutely unprecedented.
#24
Morgan Stanley now says that the U.S. and Europe are “hovering
dangerously close to a recession” and that there is a good chance we could
enter one at some point in the next 6 to 12 months.
#25
Minneapolis Fed President Narayana Kocherlakota says that he is so alarmed
about the state of the economy that he may drop his
opposition to more monetary easing. Could more quantitative easing by
the Federal Reserve soon be on the way? …’
If
We Punished Executives the Way China Does, We Wouldn't Have Any Left
Minyanville Justin
Rohrlich [ I think we should consider this approach, starting with the frauds
on wall street, which of course in the sense of ‘all roads lead to’, will
unearth other criminals deserving of such treatment since their corruption has
had ‘life/death’ effects on the general populace through no fault of their
own!] ‘Here in the United States, we've certainly gotten far more than we ever
bargained for when it comes to corruption in the collective C-suite.
A few have been punished. Many have not. In China, though, they kill their
Dennis Kozlowskis.
Yesterday, Li Hua, former chairman and general manager of the Sichuan division
of China Mobile (CHL),
was sentenced to death for accepting more than $2.5 million in
bribes.
The Intermediate People’s Court in the southwestern city of Panzhihua handed
down the verdict with a two-year reprieve, meaning if Li behaves himself, he
could skate with a mere slap on the wrist -- life in prison.
The New York Times points out that the "same type of sentence was
handed down last month for one of the company’s other former executives, Zhang
Chunjiang, who once served as vice chairman of China Mobile,” which also
included “the confiscation of his personal assets and the removal of his
political rights.”
He was convicted of accepting more than $1.15 million in bribes while working
at a series of state-run telecom companies from 1994 to 2009. At least six
other executives from China Mobile are under investigation in corruption cases. (It may be
worth noting that last week, China Mobile revealed that it “met several times with Steve Jobs to talk about Apple (AAPL)
making an iPhone that would support its
proprietary 3G standard." Currently, China Unicom (CHU) is the
only carrier in China offering the device. )
When Chen Tonghai, former chairman of Sinopec (SNP),
was sentenced to death for bribery in 2009, he was also granted a two-year
reprieve after confessing to his crimes. According to state-run news service Xinhua, the court cut
Chen a break of sorts, stating that for "crimes involving 'extremely large
sums of money,' the suspects should be sentenced to death, but 'if they confess
or contribute to the handling of relevant cases, they should not get an
immediate death penalty in principle.'"
"Chen Tonghai's sentence is a result of people's court's criminal policies
and reflects both severe punishment of corruption and the policy of tempering
justice with mercy," Xinhua said.
But, Chinese justice lacks a particularly even hand. State-run news service Xinhua explains why certain executions are performed more
hastily than others:
Corrupt
officials, such as former vice-chairman of the Standing Committee of the
National People's Congress Cheng Kejie who was executed in September 2000,
former vice governor of Anhui Province Wang Huaizhong who was given a lethal
injection in February 2004, and former food and drug administration head Zheng
Xiaoyu, executed in July 2007, got immediate death sentences because they
"refused to plead guilty" and their bribe-taking "caused
extremely serious social impact.”
This spring, China revised the law, when authorities deemed 13 non-violent
economic offenses to no longer be executable crimes, though Amnesty
International called it "legal housekeeping," as the infractions
were “all… seldom if ever punished by execution” to begin with.
Andrew Yang of the Laogai Research
Foundation -- established in 1992 by Harry Wu, a democracy activist and
survivor of the laogai, China’s system of forced-labor prison camps -- provided
us with a translation of the official list (which just so happens not to
include bribery):
And finally, simple
“theft.”
However, the Chinese leadership doesn’t rely solely on the legal system to
control the business community at large.
From Russell Lee Moses, writing for the Wall Street Journal’s China Real Time Report:
After
weeks of taking jabs to the chin from an angry microblogging public, leading
forces in the [Chinese Communist] Party have decided to punch back. Politburo
member Liu Qi visited the Beijing offices of Sina.com’s (SINA)
popular microblogging service Weibo earlier this week and impressed upon the
staff there the need for “the Internet’s healthy development”—code words for
staying away from topics which attack the rule of the Communist Party or hold
officials up for public ridicule.
[…]
Liu’s strong-arm visit follows a series of admonitions in the Party media,
warning journalists to get back into the government fold and to play the role
of conveying to a skeptical society that cadres care.
The hardline view, expressed in a recent article posted in the “People’s Forum”
run by the official People’s Daily, is that microblogging is best confronted,
not by embracing it as a way for the public to supervise the Party, but by the
Party’s “use [of] the mass media to tell the truth.”
By all accounts, corruption is so thoroughly ingrained in the operating culture
of Chinese officialdom, the roles in this situation seem to be comically
reversed.
“There is really no way to control the corruption among Chinese officials,”
Yang told me in a telephone interview. “If bribery was not punishable by death,
corrupt officials would be even bolder in grabbing the public’s wealth. And
without a free press, the behavior of officials cannot be monitored, so
corruption simply runs wild.”
James H. Zimmerman, Jr., Amnesty International's Country Specialist for China,
says the execution of government officials for bribery “is fairly common.”
In an email message, Zimmerman pointed out that “most have been politically
isolated, so they have no one coming to their defense.”
The majority of China’s citizenry certainly isn’t.
As explained by Teng Biao of China’s Economic Observer (and
translated by Worldcrunch.com), “China is the global leader for the number of
corrupt officials who are sentenced to death, and actually executed each year.
But, judging by the seemingly endless ‘public demand’ for this kind of
punishment and the surging popular anger, it would seem that there is actually
not enough of it.”
And Joshua Rosenzweig, former senior researcher at the Di Hua Foundation, a
human rights organization based in San Francisco and Hong Kong, told the Washington Post that “there still is a very
strong sense that corrupt officials must die among the Chinese population at
large. The revulsion for that offense is so strong that there would be a
potential political cost to eliminating the death penalty for corruption."
Not altogether surprisingly, the specter of death doesn’t necessarily act as a
deterrent.
In 2009, a six-year old schoolgirl in southern China was asked by a
television reporter what she wanted to become when she grew up.
"When I grow up I want to be an official," she replied.
"What kind of official?" asked the interviewer.
"A corrupt official because corrupt officials have a lot of things,"
she said.’
BofA
Warns Upcoming “Desperate Measures” By Authorities Will Result In Another 2008
Market Collapse Zero Hedge |
New
national debt data: $4.247 Trillion in 945 days L.A. Times
Home
sales approach worst point in half a century Bloomberg
Bloomberg
reveals massive corruption in the private Federal Reserve Madison Ruppert
In
Baltimore, homes for $10,000 — and less Baltimore Sun | Housing prices continue to fall through
much of the region.
Social
Security disability on verge of insolvency
MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows at Barrons.com Murray Coleman ‘Stocks continue to slump today, reeling from a raft of ugly data and growing concerns about European sovereign debt. But how far lower can ETFs tracking key benchmarks slide? MKM Partners’ technical analyst Katie Stockton sees a range around $110 a share for the SPDR S&P 500 ETF (SPY) as the next level of support. That would represent about a 3-4% drop from current levels. SPY most recently was trading down 4.6% at $114.09 a share. “I do expect that level ($110) to be re-tested in coming weeks,” Stockton said in an interview, noting that level had been tested early last week and held. The problem is that her indicators show that blue chip U.S. stocks still could have a ways to go. “The market doesn’t appear oversold at this point, so the market looks like it could go lower,” Stockton said. Perhaps the most important level for SPY is the February 2010 low of $105 a share, roughly 8% below current levels. “That level hasn’t been broken on a decisive basis yet,” Stockton noted. “That’s the number we’re really keeping a close eye on after what’s taken place today.” Meanwhile, the tech-heavy Nasdaq’s near-term backdrop looks just as volatile, notes Michael Ashbaugh in his Technical Trader investment letter. With Thursday’s downturn, the benchmark has knifed straight through initial support at 2,493 placing it back within August-crash territory. In the near-term, the veteran technician expects to see modest support at around 2,357 — its August closing low. That’s around 0.6% from where the index’s trading at now.’
Stocks
Plunge, Gold Surges on Global Concern Aug 18th, 2011 14:30 by News (Bloomberg) — ‘Stocks plunged
while Treasuries rallied, pushing yields to record lows, amid growing signs the
economy is slowing and speculation that European banks lack sufficient capital.
Gold climbed to a record, while oil led commodities lower.
The Standard & Poor’s 500 Index tumbled 4.5 percent to 1,140.74 at 4 p.m.
in New York. The Stoxx Europe 600 Index lost 4.8 percent in its worst plunge
since March 2009 and Germany’s DAX Index slid 5.8 percent, the most since 2008.
Ten-year Treasury yields fell as much as 19 basis points to 1.97 percent as
rates on similar-maturity Canadian and British debt also reached all-time lows.
The dollar gained versus 15 of 16 major peers, strengthening 0.6 percent to
$1.4336 per euro. Gold futures rallied as much as 2.1 percent to $1,832 an
ounce, while oil slid 5.9 percent.’ European
Shares Fall Most Since March 2009 Aug 18th, 2011 12:01 by News (CNBC) — ‘European equities
suffered their biggest daily fall in two and a half years on Thursday, as a
slew of data cast further doubt on the strength of the recovery in the world’s
biggest economy. German shares lost most, with traders citing the effects of a
short-selling ban on financial stocks in other parts of Europe and intensifying
worries about politicians’ lack of a plan to address the euro zone sovereign
debt crisis. The European banking sector, exposed to the euro zone debt crisis,
fell 6.6 percent and is down 29.7 percent this year.’
Jobless
Claims, Inflation Rise More Than Expected CNBC | New U.S. claims for
unemployment benefits rose more than expected last week. Chavez
Nationalizes Venezuela’s Gold Industry, Recalls Hundreds of Tons of Gold Held
Abroad, May Cause a Scramble for Physical Gold From JP Morgan and Others SEC
destroyed crucial probe data: senator AFP | The SEC may have destroyed documents related to
possible violations by major banks and hedge funds. World
stock markets plunge as fears of recession intensify guardian.co.uk Don’t
Swallow the FED’s $16 Trillion Suicide Pill Michael McKay | The Federal Reserve secretly kept the
Phony-Fiat-Money-System afloat by “lending” out $16 Trillion. GALLUP:
Americans satisfied with ‘the way things are going’ — 11%! Gallup | Americans’ satisfaction with
the way things are going in the United States has fallen back to 11%.
Stocks:
Mutual Fund Investors Hate Them the Most Since Oct. 2008 at The Wall Street Journal
Rick
Perry on Ben Bernanke: Fed Chairman's Money Printing Policies Are "Almost
Treasonous"at Minyanville
The
Loss of Momentum in the Markets All Too Apparent Now Bob Chapman
Venezuela Plans
to Move Reserve Funds Aug 17th, 2011 10:35 by News August 17 (The Wall Street
Journal) —‘ Venezuela plans to transfer billions of dollars in cash reserves
from abroad to banks in Russia, China and Brazil and tons of gold from European
banks to its central bank vaults, according to documents reviewed Tuesday by
The Wall Street Journal.The planned moves would include transferring $6.3
billion in cash reserves, most of which Venezuela now keeps in banks such as
the Bank for International Settlements in Basel, Switzerland, and Barclays Bank
in London to unnamed Russian, Chinese and Brazilian banks, one document said.Venezuela also plans to move 211 tons of gold it
keeps abroad and values at $11 billion to the vaults of the
Venezuelan Central Bank in Caracas where the government keeps its remaining 154
tons of bullion, the document says. PG
View: There have been plenty of reasons to question President
Chávez’s sanity in recent years, but seeking to lessen Venezuela’s dependence
on the dollar and removing assets, particularly their gold, from Western banks
is actually pretty prudent. It will be interesting to see how forthcoming those
Western banks will be in facilitating the repatriation of Venezuela’s gold.’ Chavez
Plans on Nationalizing Gold Industry Fox Business | “I have here the laws
allowing the state to exploit gold and all related activities.”
Putin
sets sights on Eurasian economic union Financial Times | Twenty years after
the Soviet Union collapsed, Vladimir Putin, the Russian prime minister, may
not, as is sometimes alleged, be trying to recreate it.
Putting
The Cart On Top Of The Horse, Or Why Heaping Fiscal “Stimulus” Upon “Stimulus”
Is Suicide For America Zero Hedge | Feeding the government monster is,
contrary to what Krugman and other Keynesians will tell you, in the current
regime of coincident monetary irrigation, an exercise in futility.
Merkel/Sarkozy
press conference: No chance of eurobond anytime soon. No expansion of ESFS.
Move toward common governance.
Financial transaction tax.
Aug 16th, 2011 10:37 by News
EUR rallied then retreated. Germany adds to
eurozone’s woes Aug 16th, 2011 10:13 by News August 16 (Financial Times) — German economic
growth slowed to a near standstill in the second quarter of this year, dealing
a further, unexpected blow to the crisis-hit eurozone.The surprisingly-sharp
deceleration in activity in Europe’s largest economy hit overall eurozone
growth and intensified fears about the global slowdown. It also threatened to
complicate the challenge facing the region’s policymakers as they seek to
combat its escalating debt crisis.
Stocks
Slip On Concern Over Europe's Debt, U.S. Data
Dell braces investors for a bumpy road 16 Aug 2011 Dell makes a case on why it can better weather an upcoming storm with more higher margin businesses...
Ron Paul on Texas Straight Talk: U.S. Government Debt Is
Becoming Worthless
How
Low Will Stocks Go? at
Minyanville By MoneyShow.com
Aug 12, 2011 ‘Up 500 points one day, down
500 the next. That’s the way the market is these days.
On Wednesday, the Dow Jones Industrial Average plummeted 520 points, erasing
all of Tuesday’s gains from the Federal Reserve’s decision to keep short-term
interest rates near zero. As of noon Thursday, it’s up about 250.
By Wednesday’s close, the Dow had lost 2,000 points, or more than 15% of its
value, since July 21. The S&P 500 and Nasdaq Composite indexes lost
slightly more during that time. All three are perilously close to the 20%
decline from the late April-early May top that many pundits (particularly in
the media) use as a rule of thumb to determine a bear market.
Unfortunately, I think stocks have still lower to go. How low? Later in this
column I’ll tell you what some respected technical analysts think.
But let’s start with the fundamentals.
First, the economy. Need I say more? Jobless figures were somewhat better in
June, but economists have revised downward their estimates of GDP growth.
Measures of consumer confidence are pretty weak.
And did anybody get the real message the Federal Open Market Committee put out
Tuesday? The economy is so sick, the Fed is willing to guarantee exceptionally
low rates for two years! I’ve never seen the Fed telegraph its moves so far in
advance, and the FOMC’s statement said over and over again how lousy the
economy is.
Meanwhile, the open rebellion by three voting FOMC members makes it highly
unlikely we’re going to see another round of quantitative easing anywhere near
as big as the last two.
Third, there’s the debt crisis. Everyone agrees the European Union just doesn’t
have the money to bail out Italy and Spain, its third and fourth largest
economies, if it comes to that. Rumors are swirling about the health of French
banks and the safety of France’s AAA rating.
And the debt-ceiling standoff here, which culminated in S&P downgrading the
US’s AAA credit rating, means more government action to “fix” the economy is
likely off the table.
So there’s no way President Obama will get much additional stimulus. He’s
desperately trying to extend unemployment benefits and the payroll tax holiday
for another year, but that looks pretty iffy at best. (You can read more from
me about the "end of the welfare state" on The Independent Agenda.)
Finally, there are earnings, which have been great. But we’re getting much
later in the cycle, and their momentum appears to be slowing. It’s hard for me to
see how earnings growth alone is going to power the market much higher when
everything else appears to be going in the opposite direction.
And while valuations are looking attractive by some measures, they don’t exist
in a vacuum, either.
So, where does that leave us? Four prominent technical analysts I contacted all
agreed: Stocks are heading lower, likely into a new bear market.
David Sneddon, head of technical analysis research at Credit Suisse in London,
said the 1,370.58 intraday high in the S&P we saw on May 2 was the likely
top. There’s critical technical support around 1,100, which is just about from
where the market bounced back this week. So far, we seem to be holding that.
The next level of technical support below that is at 1,020-1,022. “You’d have
to get below [1,000-1,010] to have a genuine bear market.”
Another London-based technician, Sandy Jadeja of City Index, who watches the
Dow, thinks that’s where we’re going.
A few weeks ago, he predicted the Dow would drop to 10,428, which it did. Now,
he told me by e-mail, “the rally that follows will be brief, and then lead to
another leg down to 9,673 and further.”
“Lows are not to be expected until 2012,” he concluded. “Next month is
critical. If we break the low of August in September, there is worse to come.”
Mark
Arbeter, chief technical analyst of Standard & Poor’s, said back in May and
June that the bull market was probably over, as I reported in this column. He hasn’t changed his position.
By e-mail, he said he “would look for some stabilization and a potential
short-term rally now that the S&P 500 has fallen into a major zone of chart
support…between 1,023 and 1,128.”
Ultimately he thinks the S&P could fall to 1,020, or maybe as low as 935.
That would be 15% below Wednesday’s close, and would definitely mark a new bear
market.
Michael Kahn, who writes the Getting Technical column for Barrons.com and the
QuickTakes Pro blog, has long argued we’re in a secular (long-term) bear
market, and he thinks the cyclical bull is over, too. Like Arbeter, he sees
1,010 to 1,050 as the next level of support for the S&P, and below that
930.
“I think it stops at 930 to make the 2000s-2010s follow the 1970s very
closely,” he wrote me by e-mail. That’s one decade for which investors have
little nostalgia.
The technicians are unanimous that stocks are going lower, though some are
looking for a strong rally that goes against the bearish trend. Arbeter doesn’t
expect that rally to go much beyond 1,250-1,260 before it sells off again.
Sneddon doesn’t think it’ll bounce much higher than 1,200.
“We’ve clearly seen a lot of technical damage done in a lot of markets,” he
told me. “I would be personally [inclined] rather to lighten up and reduce my
positions” on rallies.
That would be my position, too, if I hadn’t already taken profits and sold what
I wanted to a couple of months ago.
If you missed that chance, I wouldn’t sell in panic now, but would wait for
stocks to mount a rebound to sell off positions in riskier small-cap stocks
(which already may be in a bear market) and emerging markets, whose time in the
sun has come and gone. That also may be a good time to permanently reduce your exposure to equities.
But I certainly wouldn’t buy into a market like this with all its wicked swings
and uncertainties. Even mighty Goldman Sachs (GS)
lost money on 15 trading days in the second quarter! And John Paulson, the
hedge-fund genius who masterminded “the greatest trade ever” by shorting
subprime mortgages, has lost 31% so far this year in his largest fund.
If people like that who have the best information and technology are losing
money in this market, do you really think you’re going to beat them at their
own game?
There will be a time to buy again, but it’s not now. This market is heading
lower.’
Editor's Note: This article was written by Howard R. Gold, editor at large
for MoneyShow.com.
Five Reasons for the Stock Market Crash and Zero
Interest Rate 11 Aug 2011 Read more: Five Reasons for the Stock Market Crash and Zero Interest
Rate http://www.moneynews.com/StreetTalk/Stock-Market-Interest-Rate/2011/08/11/id/406976 ‘It’s said that the stock market climbs a
“wall of worry.” Because the stock market is trying to predict the future
success or failures of various companies, it sometimes gets things wrong.
Horribly, terribly wrong.
With the Dow Jones Industrial Average falling like a rock, with wild swings not
seen since the stock market crash of 2008, many investors are on the verge of
panic. It’s easy to see why. The Federal Reserve is committed to keeping
interest rates near zero until mid-2013 at the earliest. Those low interest
rates penalize investors on a fixed income who don’t want the risk of the stock
market.
Publisher’s Note: In an exclusive
interview presentation, Aftershock 2012, Robert Wiedemer outlines a dire
financial warning along with a comprehensive blueprint for economic survival.
Over one million Americans have seen the evidence and learned how to weather
the stock market, secure interest rates, and save their
financial future. Watch the video now.
But
investors who understand the reasons behind the latest decline in the stock
market have little to fear. Below are five reasons why the stock market is
crashing right now:
1) Current Debt Crisis in Europe and the United States
Between record high bond rates in Greece, Spain, Portugal and Ireland, the
eurozone has its hands full in dealing with too much debt relative to the size
of its various economies. As a result of the poor bond performance from these
countries, Europe is on the cusp of plunging into a banking crisis. Such a
crisis could send interest rates soaring for “prime” countries like France and
Germany, not to mention throw the continent into a recession.
Across the Atlantic, the United States isn’t faring much better. The recent
debt ceiling drama concluded at the 11th hour, with very little in the way of
true cuts. Instead, the government has promised to cut future growth, which may
or may not even occur. No wonder S&P downgraded U.S. debt!
Ultimately, it isn’t risky assets like stocks that cause economic problems.
Markets sell off when seemingly safe assets are suddenly recognized as
significantly riskier than they were once perceived.
2) United States Government Is at an Impasse
As part of the recent debt ceiling deal, Congress approved the creation of a
bipartisan super-committee comprised of 12 members to fast-track legislation.
The constitutionality of such a committee is dubious at best, but it’s just one
way for Washington lawmakers to pass off responsibility and avoid tough
decisions.
It doesn’t end there. The Federal Reserve has tried two rounds of “quantitative
easing,” a scheme to buy up excess debt. The rationale was that it would get
the U.S. economy back on track. Instead, this plan juiced the returns of the
stock market, and sent gas prices and grocery costs soaring.
Meanwhile, Congressional Republicans are calling for the ouster of Treasury
Secretary Tim Geithner as a consequence of the U.S. losing its S&P AAA
credit rating.
In other words, it’s business as usual for the government: trying to fix a
crisis that’s largely the result of its own poor oversight, while avoiding any
responsibility for causing the problem in the first place.
3) U.S. Unemployment Is Running Over 15%!
As long as the U.S. economy isn’t creating enough new jobs, it will stagnate.
Although the unemployment rate has declined from the double-digit rates it hit
in 2009/2010, many astute individuals have noted that the latest unemployment
report is inaccurate.
Using the measurement for unemployment used by the government up until the
early 1980s, true unemployment is running over 15%!
Meanwhile, many thrown out of work have exhausted their unemployment benefits,
which in some cases lasted as long as 99 weeks. Once off unemployment, they
officially disappear from the official unemployed list, making the job market
appear better than expected.
Adding millions of jobs would be the best economic stimulus possible. It would
allow millions to loosen their belts and spend more, which would be a huge boon
across the entire economy.
Publisher’s Note: Author and esteemed
economist Bob Wiedemer accurately predicted these events more than four years
ago. Over one million Americans have seen the evidence and learned how to
weather the stock market, secure interest
rates, and save their financial future. Watch the video now.
4) United States Has No Economic Growth
Historically, the Federal Reserve has cut interest rates to increase economic
growth. That’s because lower interest rates make it easier for individuals to
borrow money to buy cars, houses, start small businesses and the like. However,
there’s been nearly no growth since the United States plunged into a recession
in 2008. And the Federal Reserve can’t cut rates any lower.
There’s no doubt in the minds of many market participants that more Fed easing
policies are on the way, especially after America’s first-quarter GDP was
revised from 1.9% to 0.4%.
The stock market’s moves are highly dependent on economic growth. If an
individual company can post huge growth numbers, its shares tend to go up, and
its shares tend to decline when growth stalls. When a country’s GDP is
stagnant, investors don’t know what to expect. Hence the recent stock market
plunge, as economic data may suggest that another recession is upon us.
5) No Housing Recovery
The stock market crash of 2011 is starting to resemble the stock market crash of
2008 in one key way: Bank stocks are leading the decline. Since the start of
August, banks deemed “too big to fail” like Citigroup and Bank of America have
sold off twice as hard as the overall stock market.
It’s easy to see why. Banks are sitting on millions of properties listed on
their balance sheets at pre-housing crash prices. If all these properties hit
the market at once, prices would have to fall substantially. If the banks have
to sell them at a loss, they’ll take a hit to their balance sheet at a time
when they’re still trying to improve it.
A housing recovery can spur job growth for construction jobs, real estate
agents, and businesses in new communities. But we currently have a housing glut
that will take several years to work through.
Until then, without a housing recovery, it’ll be tough for the overall economy
to recover. That means the stock market is in for a wild ride and low interest
rates are here to stay.
While these five reasons aren’t a comprehensive list of the problems weighing
down the stock market and keeping interest rates paltry, they should give most
investors a reason to stay cautious over the next few months.
Based on the market’s action and recent economic data, it’s more likely than
not we’re entering a double-dip recession. Stay heavy on safe investments and
don’t give into the fear.
Read more: Five Reasons for the Stock Market Crash and Zero Interest
Rate
Important: Can you afford to Retire? Shocking Poll Results …’
Stocks
Overbought Already?at The Wall Street
Journal
Are
US Markets Facing the Abyss? [ Short answer: Worse! ] at Minyanville Jeffrey Cooper Aug 15, 2011 ‘
“As soon as the idea of the Deluge had subsided, a hare stopped in
the clover and swaying flowerbells, and said a prayer to the rainbow, through
the spider’s web.
Oh, the precious stones that began to hide, and the flowers that already looked
around.
In the dirty main street, stalls were set up and boats were hauled toward the
sea, high tiered as in old prints.
Blood flowed at Blue Beard’s -- though slaughterhouses, in circuses, where the
windows were blanched by God’s seal. Blood and milk flowed.
Beavers built. “Mazagrans” smoked in the little bars.
In the big glass house, still dripping, children in
mourning looked at the marvelous pictures.
A door banged; and in the village square the little boy waved his arms,
understood by weather vanes and cocks on steeples everywhere, in the bursting
shower.
Madame installed a piano in the Alps. Mass and first communions were celebrated
at the hundred thousand altars of the cathedral.
Caravans set out. And Hotel Splendid was built in the chaos of ice and the
polar night.
Ever after the moon heard jackals howling across the deserts of thyme, and
eclogues in wooden shoes growling in the orchard. Then in the violet and
budding forest, Eucharis told me it was spring.
Gush, pond -- foam, roll on the bridge and over the woods -- black palls and
organs, lightning and thunder, rise and roll -- waters and sorrows rise and
launch the Floods again.
For since they have been dissipated -- oh, the precious stones being buried and
the opened flowers -- it’s unbearable. And the Queen, the Witch who lights her
fire in the earthen pot will never tell us what she knows, and what we do not
know.”
--Apres Le Deluge, Arthur Rimbaud
"Yeah, keep your eyes on the road, your hands
upon the wheel...
Let it roll, baby, roll."
-Roadhouse Blues (The Doors)
“Somebody hit her with a chair, you know. I guess there’s no way to
determine who did it. It’s already coagulating. She was just an innocent
bystander. It’s a democracy.”
-Jim Morrison
“There are things known and there are things unknown, and in between are the
doors of perception.”
-Aldous Huxley
“That men do not learn very much from the lessons of history is the most
important of all the lessons that History has to teach.”
-Aldous Huxley
“Ye shall know the truth, and the truth shall make you mad.”
-Aldous Huxley
The market went mad last week. The truth of capitalism was in chaos,
democracy in disarray, and paralyzed politics hit home. The truth hurts.
“And the Queen, the Witch who lights her fire in the earthen pot will never
tell us what she knows, and what we do not know.”
Seemingly in unison, market participants' heads hit their pillows Friday night
with a thousand points of night running like shards of broken confidence
through their minds.
The consumer confidence number hit the lowest level in a generation as the
retail therapy of conspicuous consumption threatens to hit the wall.
Anesthetized with lies and sedated with stimulus, is the consumer shopped out
and about to send a wake-up call to Mr. Economy?
At the end of World War II, no power existed which could compete with the US
militarily or economically.
The US had saved the world from the scourge of dictatorship.
In return, the Bretton-Woods Agreement in the Summer of 1944 also gave us
the monetary power to print the world’s currency. We promised it would always
be convertible into gold at the rate of $35 per ounce. This proviso was between
the world’s central banks and ours. It remained true until August 15, 1971 when
President Nixon voided the agreement because French President de Gaulle was
about to make a run on our gold, which he knew wasn’t sufficient to back up all
of the currency then floating around in the world’s central banks. De Gaulle
was about to precipitate a kind of run on the bank.
Son of a gun.
Is this a harmonic of the rumors that Dominique Strauss-Kahn
-- former head of the IMF who was about to run for the French presidency
-- was set up in a hotel in New York because he was about to reveal
something about the gold that is or is not in Fort Knox?
Ever since the Bretton Woods Agreement was broken 40 years ago today, the
dollar has been wandering in a sort of financial Biblical desert,
characterized by the last decade of bubbles and busts.
The monthly S&P shows 3 persistent advances: a 5-year run into March 2000,
a 4-year run into July 2007, and a 2-year run in May 2011.
The March 2000 top saw a break and a return rally/test failure into late August
2000. The July 2007 top saw a break and a return rally that made a marginal new
high test failure in October 2007. Both of these tests failures of the high
came roughly 90 days/degrees later.
In 2011 an initial peak played out on February 18th. A test failure played out
with a marginal new high roughly 90 days/degrees later.
In “How Mid-September 2008 Ties To The July 2010 Low And Today”
from late June, I walked through the setup for a waterfall decline.
The March ’03 low was 788 which is where the big advance to 2007 began.
2 x 788 gives the price of the S&P all-time high in 2007.
From the March 6, 2009 low to the May 2, 2011 high is 787 days.
Time was ‘up’ this May, but the S&P didn’t roll over until the anniversary
of the July ’07 high.
From August 1971 to August 2011 is 480 months. On the Square of 9 Wheel, 480 is
square 90 degrees of August 24th.
August 24th is opposite this year's February 18th peak.
The end of the month also ties to the pre-crash high in 1987, the pre-crash
high in 1929, and the return rally high in 2000.
The end of August vibrates off major crashes in history.
In addition, early September ties to the 120-month anniversary of 9/11 and the
1000 point DJIA bungee following that crash.
Will an ABC retracement rally following our recent crash be able to satisfy my
projection early last week of a 1000 DJIA rally?
Will the end of the month/early September mark a retracement high or a new
low?{PAGE_BREA}Surprisingly, after violating the Bretton Woods agreement, the
world kept on functioning as though the US dollar was still as good as gold.
The only limit on our power to print money was the world’s willingness to
continue tolerating our enormous abuse of this power. In effect, it gave
us the power to soak up the savings of others around the world in order for us
to consume. It was a giddy time.
It was a giddy-up time for politicians intent on spending to buy votes and the
incestuous target they created for lobbyists.
Americans then had a free ride in financial matters to take the labor of others
and use them to their benefit. We no longer had to produce. We could just let
others do the producing and all that we needed to do was print more money and
pay them off.
That illusion is ebbing.
Technically, the market looks like it is creeping higher to finish off an ABC
upward correction from 1190 to 1225, which should see the market quickly
fall to lower lows. The mid-point of equilibrium between the 666 low and the
1371 high equates to 1018. A decline to 1018 could be a test of the 1011 low in
July 2010.
1190 is the mid-point from the July 2010 low to the May 2011 high.
1225 ties to last year's double tops.
A full backtest of the big neckline ties to 1250ish.
This week the market will tie to the chance for an Upside Follow Through Day
-- a day with a substantial gain on substantial volume at least 4 days
after a low.
This week is also options expiration, so a possible C wave corrective rally
could theoretically see the market hold up into the end of the week.
However, without a big momentum day to hook the shorts, the market will drift
before another leg down targeting 1040ish to 940ish.
We have been looking for a blow out low near mid-August based primarily on the
cycle from 1951.
The closing lows for two sessions near 1121 aligns with mid-August on the
Square of 9 Wheel. Only above 1260 does the market suggest something else other
than a new bear leg is playing out.
We don’t want to short if a washout has occurred like in August 2007. As we
asked in a report last week, is this a blow-out low or a mid-point for a move
lower?
At the same time it’s tricky to go long here between 1190 and 1225: the
vast majority of technicals indicate a new bear leg. While many stocks are
improving they have not repaired the damage.
A lot of comparisons have been made between the current cascade in stocks and
2008. Memory is short on Wall Street, but not that short. It is possible that
money managers and robots alike sold first and will ask questions later so as
not to be mangled in a another train wreck.
But this is not like 2008 in the sense that the Crash in the Fall of 2008 was a
second leg down.
Modern markets haven’t seen a drop off a peak or pivot high from late July like
we just witnessed. It was worse that last year’s Flash Crash in May 2010. It is
worse than the initial sell-off in late 2008.
Even on Black Monday in 1987, stocks were decimated in virtually one day and it
was over. This one has been a Roller Coaster Crash.
While the market has echoed the Flying Elvis Pattern that installed a low from
mid-July 2010, it remains extremely risky as the sharpness and steepness of the
selloff leaves it/left it primed for a reflex rally.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/15/ARCX_SPY_D%20--%20SPDR%20S&P%20500%20TRUST.gif
At the same time, as offered in a chart in this space in late July, the set up
for a waterfall crash like 1929 was in place and that pattern may not have
played out completely.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/15/DJIA%201929%20Daily.gif%20final.jpg
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0811/15/ARCX_GLD_D%20--%20SPDR%20GOLD%20SHARES.gif ‘
Rickards –
US will revalue gold to $7000 Aug
15th, 2011 15:10 by News August 15 (King World News) — ‘ He (Nixon)
said first of all I am imposing national price controls because there was an
inflation problem in the United States at the time. The second thing he said
was I am putting a 10% surtax of imports on all imported goods coming into the
United States. Then about 10 minutes into the speech, very much en passant, he
said, ‘Oh by the way we are suspending the convertibility of dollars into gold’
and he immediately went into this Nixonian rant about speculators. So it was
very interesting, there were three earth-shaking announcements. Can you imagine
any one of those three things going on today? President Obama or any President
saying he was going to impose nationwide price controls, or all Chinese goods
would have a 10% surcharge. It would be cataclysmic, yet Nixon did both of
those things. Plus (Nixon) took us off the gold standard, so it was quite a
dramatic speech. In a strange way he did us all a favor by making sure we (the
US) held on to the gold. So I do think the United States is in a position to
revalue the currency using gold to that $7,000 level. That will obviously be a
huge benefit to all of the people who invested in gold because they are going
to be along for the ride, along with the United States when that gold goes to
$7,000.” Excerpted from an interview that is available here.
‘
Fed
Pledge Let's You Know The Fix Is In Forbes Peter Schiff
‘ Last week’s wild actions on Wall Street should serve as a stark reminder that
few investors have any clue as to what is really going on beneath the surface
of America’s troubled economy. It did bring startling clarity on at least one
front. In its August policy statement the Federal Reserve took the highly
unusual step of putting a specific time frame for the continuation of its near
zero interest rate policy.
Moving past
the previously uncertain pronouncements that they would “keep interest rates
low for an extended period,” the Fed now tells us that rates will not budge
from rock bottom for at least two years. Although the markets rallied on the
news (at least for a few minutes) in reality the policy will inflict untold
harm on the U.S. economy. The move was so dangerous and misguided that
three members of the Fed’s Open Market Committee actually voted against it.
This level of dissent within the Fed hasn’t been seen for years.
Many
economists have short-sightedly concluded that ultra low interest rates are a
sure fire way to spur economic growth. The easier and cheaper it is to borrow,
they argue, the more likely business and consumers are to spend. And because
spending spurs growth, in their calculation, low rates are always good. But, as
is typical, they have it backwards.
I believe that
ultra-low interest rates are among the biggest impediments currently preventing
genuine economic growth in the US economy. By committing to keep them near zero
for the next two years, the Fed has actually lengthened the time Americans will
now have to wait before a real recovery begins. Low rates are the root cause of
the misallocation of resources that define the modern American economy. As a
direct result, Americans borrow, consume, and speculate too much, while we
save, produce, and invest too little.
It may come as
a shock to some, but just like everything else in a free market, interest rate
levels are best determined by the freely interacting forces of supply and
demand. In the case of interest rates, the determinative factors should be the
supply of savings available to lend and the demand for money by people and
business who want to borrow. Many of the beneficial elements of market
determined rates are explained in my book How an Economy Grows and Why it Crashes.
But allowing the government to determine interest rates as a matter of policy
creates a number of distortions.
It was bad
enough that the Fed held rates far too low, but at least a fig leaf of
uncertainty kept the most brazen speculators in partial paralysis. But by
specifically telegraphing policy, the Fed has now given cover to the most
parasitic elements of the financial sector to undertake transactions that offer
no economic benefit to the nation. Specifically, it will simply encourage banks
to borrow money at zero percent from the Fed, and then use significant leverage
to buy low yielding treasuries at 2 to 4 percent. The result is a banker’s
dream: guaranteed low risk profit. In other words it will encourage banks to
lend to the government, which already borrows too much, and not lend to private
borrowers, whose activity could actually benefit the economy.
This reckless
policy, designed to facilitate government spending and appease Wall Street
financiers, will continue to starve Main Street of the capital it needs to make
real productivity-enhancing investments. American investment capital will
continue to flow abroad, denying local business the means to expand and hire.
It also destroys interest rates paid to holders of bank savings deposits which
traditionally had been a financial pillar of retirees. In addition, such an
inflationary policy drives real wages lower, robbing Americans of their
purchasing power. The consequence is a dollar in free-fall, dragging down with
it the standard of living of average Americans.
Until interest
rates are allowed to rise to appropriate levels, more resources will be
misallocated, additional jobs will be lost, government spending and deficits
will continue to grow, the dollar will keep falling, consumer prices will keep
rising, and the government will keep blaming our problems on external factors
beyond its control. As the old adage goes, “insanity is doing the same thing
over and over again and expecting different results.” ‘
Peter Schiff
is CEO of Euro Pacific Capital.
Train
Reading: The Stock Market Is Insane The
Wall Street Journal
‘The stock
market has lost its mind — Bethany McLean in Slate
Are US banks
turning Japanese? — FT Alphaville
How’s that
austerity working out for you, UK? — Econbrowser
Can Jeremy
Grantham profit from ecological mayhem? — NY Times Magazine
Authors and
critics reveal which lit classics they consider overrated — Slate
It’s not so
easy applying Moneyball principles to soccer — WSJ ‘
In theory, the
stock market is supposed to reflect the prospects for the economy—the earnings
potential of the stocks that make up the Dow Jones Industrial Average. But
there's more than one reason to believe that what's going on now has little to
do with any rational view of the future, and a lot to do with the market
itself. "Dip your toes into any risk asset right now and understand that
you are not entering into anything remotely resembling a normal market environment,"
wrote David Rosenberg, the well-respected former Merrill Lynch analyst who is
now the chief economist at Canadian firm Gluskin Sheff, in his recent
newsletter. "Dysfunctional is more like it."
The first
factor to consider is that the huge rebound in stocks and in all sorts of risk
assets from the spring of 2009 until May of this year wasn't necessarily driven
by a belief that better times were coming. It was driven by a belief that
investors had to buy riskier assets given the Fed's determination to hold
interest rates near zero. Because investors can't get a return in
"safe" assets—indeed, a small return will get chewed up by
inflation—they are driven to riskier assets. As more investors pile in,
everyone is driven further out along the risk curve.
This is what
traders call "risk on." What they mean is that you'll be rewarded for
buying risk, regardless of reality. The Fed's second round of quantitative
easing ("QE2"), in which it bought $600 billion of Treasuries in
order to keep interest rates low, encouraged this investment strategy. "We
had a nice two-year rally in risk assets and something close to an economic
recovery, but as we had warned, it was built on sticks and straw, not
bricks," wrote Rosenberg. "This isn't much different than the financial
engineering in the 2002-07 cycle that gave off the appearance of
prosperity."
The Fed intended this to end happily. The fake wealth created by a soaring market was supposed to turn into real wealth, because rich people, who control much of the economy and who have much of their money in the market, were supposed to spend more. But it hasn't worked, partly because of problems in the rest of the world—the tsunami in Japan, the financial crisis that's brewing in Europe—and partly because our own economy is too deep in hock to achieve the necessary stimulus. As Howard Marks, the chairman of Oaktree Capital Management, put it in his recent letter, "The world has awakened to the undesirability of ever-growing government debt."
You can think
of the Fed's medicine as a painkiller. It allows everyone to pretend that bad
stuff isn't happening, until something shatters the illusion and the
comfortable numbness abruptly gives way to panic. There's massive selling. Then
the Fed reassures everyone that its toolbox isn't empty just yet—witness the
big upturn on Aug. 9 after the Fed said it would likely hold rates near zero until mid-2013 (a
worthless prediction if inflation surges)—and the market soars. Risk on!
It's hard to
develop any real conviction about the direction of the market when so much
depends on the actions of the Federal Reserve. That's especially true because
even the members of the Federal Reserve Open Market Committee aren't all in
agreement. Three members voted against the Fed's Aug. 9 announcement.
Complicating matters is that the short term direction of the real economy is
also at the mercy of the government. The key line in this Wall Street Journal story: "As goes government spending, so
goes the U.S. economy."
Another
possible factor in the madness is forced selling by big hedge funds. There are rumors that funds are getting hit by margin calls, or that
funds that are having a bad year are getting redemption requests from
investors, thereby forcing them to sell. Most of the gossip has focused on John
Paulson (the hedge fund manager who famously made his fortune by shorting
securities backed by subprime mortgages), given the big positions he was known
to have in stocks that have gotten trashed. But if Paulson is hurting, he's
probably not alone. "No way big guys could have gotten out," one
trader tells me via email. "Big hedge funds with all the same big
positions. This move down happened so fast that they are trapped." If this
theory is right, then sudden rallies like Thursday's upturn will be followed by
more selling, as hedge funds take advantage of the ability to get out.
The last
explanation I've heard is that most of the buying and selling hasn't been driven
by real people, but rather by computers. Hello, HAL 9000!
In the last five years, computer-driven trading, whether controversial
high-frequency trading or just programs that buy baskets of stocks based on
technical figures, has become a bigger and bigger part of the market. Depending
on how you define it, sources tell me it constitutes 70 percent to 90 percent
of trading now. "The human element is gone," one trader tells me. At
least some people believe that the presence of computers exacerbates the big
moves up and down. According to this
paper by X. Frank Zhang, an associate professor of accounting at the Yale
School of Management, "high frequency trading is positively correlated
with stock price volatility." Zhang goes on to say that the "positive
correlation is stronger among the top 3,000 stocks in market capitalization and
among stocks with high institutional holdings. The positive correlation is also
stronger during periods of high market uncertainty." Zhang's academic work
is supported by the observations of those who have been in the market for a
long time. "I suspect that the real culprits here are the computers Wall
Street has programmed and unleashed to trade and manage portfolios," wrote
John Bollinger, who has been publishing his Capital Growth
Letter for more than two
decades. "The sort of mindless selling that we are seeing is most likely the
result of machines trading and human beings desperately trying to keep up with
them."
Should you
buy? Should you sell? No one knows. The world is always an uncertain place, but
right now it's more uncertain than usual, whether about the ultimate resolution
of Europe's crisis or about how the U.S. will reduce its debt and get the
economy growing again. Or perhaps I should say reduce its debt or get the economy growing, since it's unlikely to
achieve both at the same time. This inability to guess what the future holds
means that madness rules.’
Withdrawals
From Stock Funds Biggest Since ’08
Aug 12th, 2011 15:32 by News
(Bloomberg) — Investors pulled the most money from global stock funds since
2008 in the past week as the Standard & Poor’s downgrade of Treasuries and
the deepening European debt crisis prompted a flight into cash and gold. Funds that buy global
equities suffered $3.5 billion in net withdrawals in the week ended Aug. 10,
the most since the second week of October 2008, according to Cameron Brandt,
director of research at Cambridge, Massachusetts-based EPFR Global. Investors
removed $11.7 billion from funds that invest in U.S. equities, the most since
May 2010 when investors pulled money following a one-day market crash that
briefly erased $862 billion.“This week had a feeling of capitulation as we saw
investors running for cover,” Brandt said in a telephone interview. “The last
time we saw this kind of flight to safety” was in 2008, he said.’
U.S.
Consumer Confidence Drops to Three-Decade Low Amid Economic Headwinds Aug
12th, 2011 13:10 by News
(Bloomberg) — ‘Confidence among U.S. consumers plunged in August to the lowest level since May 1980, adding
to concern that weak employment gains and volatility in the stock market will
prompt households to retrench.The Thomson Reuters/University of Michigan
preliminary index of consumer sentiment slumped to 54.9 from 63.7 the prior
month. The gauge was projected to decline to 62, according to the median
forecast in a Bloomberg News survey.’
Pity the Policymakers July 21st, 2011 by News
by Mohamed A. El-Erian (Project Syndicate) — ‘I don’t know about you,
but whenever I am in an airplane experiencing turbulence, I draw comfort from
the belief that the pilots sitting behind the cockpit’s closed door know what
to do. I would feel very differently if, through an open door, I observed
pilots who were frustrated at the poor responsiveness of the plane’s controls,
arguing about their next step, and getting no help whatsoever from the
operator’s manuals. So it is unsettling that policymakers in many Western
economies today resemble the second group of pilots. This perception reflects
not only the contradictory pronouncements and behavior of policymakers, but
also the extent to which economic outcomes have consistently fallen short of
their expectations.This perception is evident in Europe, the United States, and
Japan, where indicators of economic sentiment are deteriorating again,
already-weak recoveries are stalling, and over-stretched balance sheets are
becoming even more precarious.’
Is
America The Next Greece? at Forbes Marc Schindler ‘After
many years of overeating (overspending) Greece is in the emergency room with a
major financial heart attack and America isn’t far behind.
The doctors
(IMF, European finance ministers, the ECB, etc.) are running around trying to
save it. Open heart surgery (loans guaranteed by others) has averted the
immediate crisis, but Greece is just as overweight today as it was before the
crisis. Attempts to lose weight through exercise (austerity measures) cause
serious chest pains (riots). The doctors don’t want to admit it, but all signs
point to a heart transplant (default) as the only way to get Greece onto its
feet again.
Greece isn’t
the only one. It is a veritable epidemic. Ireland, Italy, Portugal, Spain and a
host of other countries are having chest pains. Iceland is feeling better now
with its freshly transplanted heart. The American home owner is still in the
hospital from his financial heart attack after gobbling up vast quantities of
real estate, and it has been many decades since Uncle Sam last could see his
toes.
By most
accounts (e.g. here
or Bill
Gross‘ statements in a recent interview) total hidden government
liabilities add up to about $60-$100 trillion. That is on top of the $14
trillion of debt carried on the balance sheet. Adding up those liabilities, the
US owes at least five times GDP, which currently sits at about $15 trillion.
For comparison, Greece’s debt is about 1.5 times its GDP.
This is not
really a fair comparison, because it leaves out any hidden liabilities Greece
may have. The US debt figure includes unfunded entitlements, state and local
debt, and underfunded public pensions. Nevertheless, it is clear that this is
an unsustainable debt load even if the estimates turn out to be off by a factor
of two or four.
Uncle Sam is
already more overweight than Greece ever was. If he doesn’t change his ways, he
will end up in the hospital like Greece, but at present he is partying like
there is no tomorrow, gorging himself on entitlement spending, costly wars,
bailouts, subsidies, and countless other delicacies.
Perhaps it
would not be such a bad thing if the talks about raising the debt limit failed.
After Uncle Sam suffers the resulting self-inflicted mild heart attack
(temporary default) and finds out how much fun it is to fetch up in the
emergency room, he might be more inclined to take care of himself, slim down,
and stick with an exercise regime.
Some kind of a
wakeup call is necessary while there is still time to deal with our debt
problem. The only way to address it is for Washington to do its job: get
everybody to recognize that there is a problem, find a solution that demands
some sacrifices from everyone, and work together across party lines to
implement it. In the current political environment that does not seem to be
possible. Something needs to change the environment. Greece shows that the
alternative is not pretty.’
Corporate
Earnings Soar Amidst a Dismal Job MarketWall St. Cheat Sheet [That game’s about to end! In fact, that game’s
over! Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- ]
Standing on the precipice – and ready to jump July 21st, 2011 News By Wolfgang Münchau ( Financial
Times) — ‘It looks like there will be deal on a eurozone package for Greece.
The full details are still missing, but it appears that the eurozone is forcing
Greece into a selective default. As part of such a package, short-term Greek
debt will be more or less forcibly converted into long-term debt. The wretched
bank tax is mercifully off the table. And the European financial stability
facility will most likely be allowed to purchase Greek debt at a discount. LET US NOT MINCE WORDS
HERE. THIS WOULD BE A DEFAULT, THE
FIRST BY A WESTERN INDUSTRIALISED COUNTRY IN A GENERATION. I am not quite sure
how it is possible for the European Central Bank to agree to this, or to all of
this. But I will surely be intrigued to hear how Jean-Claude Trichet will
manage to be consistent with what he said a few days ago. There are also
reports that the eurozone leaders may accept a more flexible EFSF beyond those
bond purchases.’
State
Finances Are Worse Than You Think at
Forbes
So
Far, Market Ignoring Dire Warnings at
Minyanville
The
Greater Depression Is Upon Us by David
Galland http://www.lewrockwell.com/orig10/galland34.1.html Casey
Research Recently by David Galland: The Road to Perdition ‘The phrase “Greater
Depression” was coined by Doug Casey a decade or so back as a way of describing
the economic crisis he foresaw as inevitable, and which is now materializing.
Because I think it is important for
every organization to constantly challenge its own assumptions, I’ve long acted
as something of a devil’s advocate here at Casey Research. By constantly
pushing our analysts to revisit their assumptions and calculations, it is my
firm intention for us to spot the fork in the road that indicates it is time to
shift strategies away from investments designed to do well in the face of a
currency debasement and to something else.
Being attentive to that fork in the
road is hugely important, because even though we urge our subscribers not to
overdo their exposure to inflation hedges, we recognize that many do. Many a
good person had their clocks cleaned in the early 1980s solely because they had
become overly enamored of their precious metals – so much so that they stopped
thinking of them as an asset class and began thinking of them more in the terms
one might associate with an amorous dinner date. Thus these investors were
utterly unprepared when said date stood up and broke a dinner plate over their
heads.
With that brief setup, I want to make
our views clear: While we correctly anticipated the recent correction in
precious metals, this correction is but a blip in a secular bull market that is
very much intact.
Doug Casey has often said that the
unfolding crisis is going to be even worse than he expects (which is saying
something), and the longer the rest of us at Casey Research study the tea
leaves, it is hard to disagree that the Greater Depression is still ahead.
Consider:
Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon Back on December 12, 2007 I wrote a market
commentary that started as follows:
The equity markets have been very volatile this year, but also
range bound. A picture speaks a thousand words so all one needs to do is
view the chart below of the S&P 500 Index to understand just how volatile
and range bound things have been. Specifically, since February 20, 2007,
only nine and one half months or so ago, the S&P 500 Index has been down 5.86%, up 13.02%, down 9.43%, up
11.26%, down 10.09%,
and now up 7.73% – through
12/10/07 – so far in this
latest up leg! All this in ONLY nine and one half
months!
http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-1.jpg
History is
repeating itself so far in 2011, which has been fraught with ups and downs in
both international and domestic equity markets. This is due to many
things, including the considerable economic doubts and various countries debt
situations. This uncertainty has translated into market performance with direct
impacts on portfolio returns and more prominently in portfolio volatility. This
volatility is best seen in the chart below of the S&P 500 Index beginning
1/1/11.
http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-2.jpg
2010 ended
positivity and the momentum carried into the first two months of 2011 however
the end of February began a series of events that led market returns on a
whipsaw ride of ups and downs, resulting in the current universal mid-year views
of market uncertainty.
What news was
associated with this volatility? All the usual; crude oil prices, natural
disasters, corporate earnings, politics, economic forecast revisions for both
developed and emerging markets, the European debt situation, the United States
debt situation and more to name just a few.
One thing is
for certain; the current volatile, range bound market activity is difficult at
best to profit from. In this investing environment patience is the most
important attribute. I will be patient and will be careful until the
trends are preferable.
Our strategy
at Hanlon Investment Management is to attempt to minimize downside risk by
exiting risk asset classes, such as equities, during periods of uncertainty,
getting invested in more conservative asset classes, such as money markets and
short-term bonds, and re-entering into risky asset classes when we identify
them as attractive, when the trend is our friend and positive!
Having
identified this volatility, in June we made defensive, tactical investment
decisions that provide less exposure to these volatile, range bound markets and
prepare us to re-enter the markets when they possess improved risk
characteristics.’
Deficit Ceiling
and Stocks - Expect the Unexpected ETFguide
Simon Maierhofer, July 19, 2011, ‘A
number of cliches come to mind when talking about the U.S. debt situation. The
most appropriate might be: 'You can't have your cake and eat it too.' The least
applicable is probably: 'Never put off until tomorrow what you can do today.'
But if you
think the U.S. will default on some of its obligations anytime soon, you don't
have enough faith in the government's most potent weapon - extend and pretend
(another cliche that's become the modus operandi).
Since 1960,
Congress has acted 78 separate times to permanently raise, temporarily extend,
or revise the definition of the debt limit. Chances are Congress will act again
before the August 2 deadline. That however isn't good news.
By the end of
this article you will know the common sense, no nonsense, deficit ramifications
for the stock market and why even 'a deal' isn't good news.
USA Inc.
- Income Statement
If the United
States was a corporation - USA Inc. - here's what the Income Statement would
look like:
Total federal
spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162
trillion. USA Inc.'s 2010 deficit was $1.294 trillion.
The 2011
federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. But
there's no reason to despair, just before April 15,Congressional leaders were
able to agree on $39 billion worth of budgetcuts for the remainder of the year.
Senate
Majority Leader Harry Reid hailed this heroic effort as a 'historic' level of
cuts. To quantify just how 'historic' that effort was we'll put it in
percentage terms -1%. The cut amounted to only 1% of the 2011 budget.
Apparently it wasn't enough. Thanks to extend and pretend we've arrived at the
next deadline.
Stocks
Applaud ... and Decline
Keep in mind
that back in mid-April when the 'historic' $39 billion cut was hammered out,
the S&P was at about 1,300. Following the 'resolution' of the budget
problem stocks rallied about 5%.
The April 3 ETF
Profit Strategy Newsletter featured the chart below (due to size restrictions
the chart had to be reduced). As per the chart and accompanying analysis, the
Newsletter expected a rally to the next Fibonacci resistance at 1,369, followed
by a bounce off the Fibonacci support at either 1,229 or 1,255 and an attempt
to take out the previous high.
http://www.etfguide.com//contributor/UserFiles/8/Image/5%20-%20April%203%20TF.jpg
This outlook
was based purely on technical analysis with no regard for the deficit problem
or European debt woes (we'll take a look at an updated technical forecast in a
moment). The S&P did top at 1,370 on May 2. Thereafter it dropped to 1,259,
and tried to take out the previous high (the S&P rallied as high as 1,356
on July 7and stumbled thereafter).
USA Inc.
- Balance Sheet
If you think
the Income Statement looks bad, you may not want to look at the Balance Sheet.
Consensus estimates for unfunded obligations vary. Mary Meeker pegs the
shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to
be $75 trillion, while other estimates exceed $100 trillion.
The
Deficit and Stocks
When President
Obama took office in January 2009, the federal debt was 70% of GDP or $10
trillion. Today the deficit is close to 100% of GDP at $14.3 trillion. As
per a recent AP report, President Obama had to scroll down his demands and
would now be content with a $2.4 trillion debt ceiling increase to make it last
beyond the 2012 elections.
No doubt, the
President would like the deficit issue put on hold until he's re-elected. It
seems like everyone has an agenda that takes priority over solving the actual
debt issue. The whole game could be summed up as White House budget director
Jack Lew put it: 'That all these ideas do is say let's kick the can down the
road so that others will deal with it.'
This, by the
way, is why the pre-election year of the Presidential election year cycles has
seen gains consistently since 1939, because the incumbent party will do what it
takes to remain in office longer.
A
lose-lose Situation
The drawback
of the deficit situation is that there is no easy way out. The government has
to either cut spending (as in fewer benefits for Americans) or increase revenue
(as in higher taxes).
Pick your
poison. Either choice will kill the economy. Of course, you can extend and
pretend, which is probably what will end up happening. No matter how much lip
stick you have at your disposal, a pig remains a pig. The deficit is a big
(red) pig.
What is worse,
a $14.3 trillion deficit today, or a $16+ trillion deficit (according to
Obama's wish) in 2012? Debt is like gangrene, dry rot or mold, it doesn't just
go away, it gets worse (ask Greece, Ireland, Portugal or any of the other
PIIGS).
Eliminate
Variables
Using European
(NYSEArca: VGK - News) debt troubles as a
benchmark, there hasn't been a direct correlation between U.S. stocks and
European debt. To generalize this even further, there hasn't been a real
correlation between the U.S. deficit issue and U.S. stocks.
It was in June
2009 that Greece admitted to having a 'small' problem. Stocks rallied
throughout the remainder of 2009, most of 2010 and some in 2011. The same is
true for the MSCI EAFE ETF (NYSEArca: EFA - News) and Emerging Market ETF
(NYSEArca: EEM - News).
Admittedly,
the U.S. is a much bigger problem than the PIGGS, but the principal remains the
same - basing investment decisions on the outcome of debt negotiations is
tricky because the market has a mind of its own.
Since early
2010, every single time the major indexes a la S&P (SNP: ^GSPC), Dow (DJI:
^DJI), and Nasdaq (Nasdaq: ^IXIC) sold off more than a few percent, it's been
blamed on Greece. What many don't consider is that the market was helplessly
overbought in January, and April 2010 and 2011 and due for a correction anyway.
It seems like Greece has been a scapegoat more often than the actual cause.
Perhaps it's a game of chicken and the egg. Which came first?
No
Chicken-Egg Game
It has been
more beneficial and profitable to rely on solid technical analysis rather than
playing the chicken and egg game.
Technical
analysis along with sentiment readings pegged a market bottom of the same
degree at S&P 1,259 - 1,245. That was the opinion of the ETF Profit
Strategy Newsletter on June 15 (one day before the 1,258 bottom):
'The 200-day
SMA at 1,257 is sandwiched between the 1,255 Fibonacci projection level dating
back to 2002 and this week's s1 at 1,259. Wednesday's low was at 1,261.9. If
this low is not enough, there is a strong cluster of support at 1,259 - 1,245.
A drop into the 1,259 - 1,245 range would prompt us to close out short
positions and leg into long positions' (long positions were closed out at
S&P 1,345 on July 7).
There was no
fundamental good news on June 15 or 16. Some of the headlines featured on June
15 were:
'Is the bull
market over? A look at four different sentiment measures suggests that more
pain may await investors.' - Barrons
'Greek default
could trigger chain reaction' - AP
'Confidence is
eroding among U.S. factories, consumers' – Bloomberg …’
Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To
Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis.
Once again I
see all the “canaries in the mine,” which warned of the 2008 crisis.
My just released book, Financial Apocalypse , provides the clues and the road map, with charts, of
how my indicators successfully predicted the meltdown that occurred in
the fall of 2008. This book is a guide for detecting the next crisis whenever
it occurs. History repeats, or at minimum, it rhymes.
My work shows
that “the new recession has started.” The May 9 issue of the Wellington
Letter was headlined:
“Return of the Double-Dip.” At the time, economists were looking for a
great economy in the second half. Now they talk about a “soft patch.”
Over the past 33 years, we have called the start of every recession, often on
the exact month, or within one month, of the official start as determined one
year later by the official arbiter of recession, the National Bureau of
Economic Research (NBER).
How can we be
in recession now when the GDP still shows growth? Because of improper inflation
adjustments. “Real” GDP growth, the headline number, is nominal growth minus
the rate of inflation. However, inflation is far understated for political
reasons.
Currently, the
GDP deflator is 1.8%, which hardly reflects the true rise in prices. Therefore,
what is counted as “growth,” is actually price increases. Actual inflation,
according to free market economists who calculate inflation as it was done in
1980 before the politician re-engineered it, is now more than 11%. Using that
to adjust GDP for inflation, would show that the economy is now in a very sharp
contraction.
When the
current euphoric earnings forecasts of Wall Street finally reflect that via
significant “earnings downgrades,” the stock market will see a serious
“adjustment” as well.
On July 18,
Goldman Sachs (GS)
substantially lowered its economic growth forecast. Marketwatch.com had this
headline: Goldman Sachs slashes Economic Forecasts. The next step will be for them to substantially
reduce earnings forecasts for the S&P 500.
Will the phase
II be as bad as the 2008 crisis? The last crisis was confined to the private
sector, i.e. financial institutions. The next one will be involve the
threatened default of entire countries. The last time, the central banks bailed
out the financial firms and even Warren Buffett bailed out several firms. Who
is big enough to bail out entire countries? Or will the term of “too big to
fail” turn to “too big to bail?”
Bert Dohmen is editor of the Wellington
Letter and author of Financial Apocalypse.’
3
Top Crooks Still Roaming Free After the Economic Crash Wall St. Cheat Sheet July 25, 2011, The global economy and stock markets took
a nose dive in 2008. But that hasn’t stopped some of the biggest masterminds
from escaping a day of luxury.
Here are three
financial crooks who are probably sipping daiquiris in Capri at our
expense:
Lehman
Brothers CEO Richard S. Fuld, Jr.
Few executives
were as intimately and extensively involved in the downfall of their firms as Dick
Fuld . At the time of the financial collapse, Fuld had worked for Lehman
Brothers for nearly 40 years, and had been the firm’s chief executive since
1994. In that role, not only was he the longest-tenured CEO on Wall Street at
the time of the financial crisis, but he was considered one of the best. He was
named Institutional Investor magazine’s top chief executive in the private sector
in 2006. The following year, he was paid more than $21 million in cash and
stock on top of his base salary of $750,000 a year after the bank’s net profit rose 5% to a record $4.2 billion. And as
recently as March 2008, Barron’s listed him on their list of the 30 best CEOs,
referring to him as “Mr. Wall Street”.
When the
financial crisis hit, Fuld was one of the few executives to hold onto his
position. He counted himself responsible for the company, but didn’t realize
just how much real estate loans and other toxic assets were weighing on his
balance sheet. Instead, he remained confident in the firm that he helped grow
from a negative profit in 1993. His hubris can somewhat be understood, given
the firm hadn’t reported a single quarterly loss since it went public. But Fuld
was wrong. He overestimated the value of his firm, rejecting offers that could
have saved it from collapse because they didn’t adequately reflect what he felt
the firm was worth.
We know that
sub-prime mortgages were almost solely responsible for the financial crisis,
and a large part of the Wall Street’s fourth-largest investment bank’s worth
was held in its mortgage business, where mortgages were re-packaged and sold to
other investors, often for more than they were really worth. In fact, Lehman
was the top U.S. underwriter of mortgage bonds in 2006 and 2007, accounting for
roughly 10% of the market. As CEO, Fuld was responsible for buying those
assets, which ultimately became toxic and impossible to unload. But whether or
not Fuld can be held wholly responsible for the firm’s loan practices, he can
be held responsible for the firm’s bankruptcy. As late as August 2008, after
many CEOs had already been forced to resign, he rejected an offer by state-run
Korea Development Bank to buy a 25% stake in Lehman for $4 billion to $6
billion.
There’s no
question that the firm Fuld helped build, that he’d been a part of since 1969,
where he held the top position for 14 years, was criminally responsible for the
financial crisis. In fact, it may be the most culpable, given the sheer volume of sub-prime
mortgages underwritten by Lehman in the years leading up to the market
collapse. On September 15, Lehman became the largest firm to file for bankruptcy in history, dealing a devastating blow to an
already fragile financial system. A few weeks later, Fuld was summoned to appear before Congress as part of an inquisition. He was
also investigated by three United States Attorneys offices in New York and New
Jersey. But ultimately Fuld walked away from Lehman Brothers having pocketed
nearly $500 million just in his last six years with the firm, years during
which Lehman’s sub-prime mortgage practice was contributing to what would
ultimately cost taxpayers $700 billion in a government-issued bank bailout
program. Fuld was never charged with or convicted of any crimes.
AIG
Financial Products CEO Joseph J. Cassano
As a founding
member and head of AIG Financial Products, Joe
Cassano was responsible for selling hundreds of billions of dollars worth
of credit protection in the form of credit-default swaps (CDS) on U.S.
sub-prime mortgages, a form of insurance that didn’t require that AIG put down
any form of collateral. So when the financial crisis hit in 2008 and investment
banks requested the insurance money for their collapsing derivatives, AIG was
unable to pay what was owed and ultimately had to be bailed out by the
government, receiving about $170 billion in taxpayer money.
Cassano
resigned from his position at AIG FP in March 2008, having pocketed $280
million in cash and an additional $34 in bonuses. He even managed a $1
million-a-month retirement package that kept him on at AIG as a “consultant”.
Cassano even went on record denying any fault on the part of AIG, saying,
“We believed
until late 2005 that banks and other mortgage originators were applying
appropriate standards when writing mortgages. When we recognized — well before
many others — that changes in the mortgage market likely presented increased
risk for future deals, we decided to exit the subprime business. We thought the
decision was appropriate, despite the lost profits at the time. With hindsight,
the decision looks even more prudent.”
Cassano went
so far as to blame the bailout for losses on CDS contracts, saying there would
have been few, if any, had they not been unwound by the bailout. Testifying
before the Financial Crisis Inquiry Commission, Cassano fully defended his
firm’s CDS practices, outlining the careful approval and monitoring system
that, “specifically identified risk factors and provided an analysis of those
risks.” Cassano insisted that AIG had not miscalculated the risks of sub-prime
mortgages.
However,
Cassano was directly responsible for AIG’s credit-default swaps program that
put the firm’s many clients, including Goldman Sachs, in danger when it was unable to
pay out on insurance claims. He essentially sold billions of dollars worth of
vapor — he failed to provide what had been paid for by the firm’s clients. That
sounds remarkably like fraud, the grounds upon which many investors have filed
suit against Cassano. In fact, regulators in both the U.S. and the U.K.
investigated Cassano’s acts to determine whether they had been criminal. But
like just about every executive responsible for the financial crisis, Cassano
was not ultimately charged with any wrongdoing, and remains a free man.
Countrywide
Financial Chairman and CEO Angelo Mozilo
Ranked second
by Condé Nast Portfolio on their list of the “Worst American CEOs of All Time”, Angelo
Mozilo was charged in 2009 of insider trading and securities fraud by the
U.S. Securities and Exchange Commission. Mozilo personally sold hundreds of millions
of dollars in stock while using shareholder funds to buy back stock to support
the share price. He is also responsible for what has been termed the “Friends of Angelo” VIP program under which several
influential lawmakers, including Senate Banking Committee Chairman Christopher
Dodd, as well as many Fannie Mae employees and other “Friends of Angelo”,
received discounted mortgages.
However,
Mozilo was allowed to settle with the SEC on all charges. He agreed to pay $67.5 million in fines, the most ever exacted from an
individual in connection with the 2008 financial crisis, and he was banned from
ever serving as an officer or director of any other public company. Robert Khuzami, director of the SEC’s Division of
Enforcement, said that “Mozilo’s record penalty is the fitting outcome for a
corporate executive who deliberately disregarded his duties to investors by
concealing what he saw from inside the executive suite.” But in settling,
Mozilo was able to avoid a trial and any subsequent criminal charges, and was
not required to acknowledge any wrongdoing.
Mozilo’s net
worth has been estimated at roughly $600 million. And because of the
indemnification agreement in his contract with Countrywide, the firm was
responsible for paying roughly one-third of his fines, leaving Mozilo with a
bill of $47.5 million — that’s less than 10% of his worth. Aside from Bernie
Madoff, the only executive tied to the financial crisis to be criminally
prosecuted and convicted, Mozilo’s settlement is the greatest punishment
inflicted on any executive responsible for the country’s economic collapse, and
falls desperately short of true justice.’
Debt,
Deficits and the Demise of the American Economy' - Author Peter Tanous
Discusses Risk
US Equities Forecast and the Anticipated Path of the Market at Minyanville Peter Prudden July 25, 2011 ‘… the headline risk remains to the downside and the bogey to lower equity prices in the short to intermediate term is concentrated on the U.S. Debt ceiling. At some point, not only must all developed economies deal with marking down to the level of income, but we must restructure large amounts of excess leverage. Until we accomplish this, growth will be problematic…’
Putin says
U.S. is "parasite" on global economy [Unfortunately, this
is very true. More unfortunately is the fact that most worldwide don’t realize
that fact! I mean, think about it: pervasively corrupt, defacto bankrupt
america’s cancerous perma wars,
over-printed debased ‘Weimar’ paper ‘reserve’ currency, huge frauds in
securities and otherwise, etc.. ]
3 Reasons Why This Summer Could Get Ugly Simon Maierhofer, July 29, 2011 [
Well, before getting to the article, we all know why: because … ‘Sell in May,
and go away!’ … Quite simple, as previously set forth here and elsewhere, you
should have ‘sold in May, and went away!’ Why? Because … as Rosanne Rosanna Danna formerly of SNL fame and as
her mama always used to say, ‘it’s always somethin’’ … but unfortunately, that
somethin’ is not necessarily what they say it is. ] ‘It seems
like the European Union and U.S. government are stuck in a never ending game of
Whac-A-Mole. It seems like more moles are popping up more quickly, needing more
force to be subdued (ironically the moles come back just as the problems do)…’
Mapping
the Myths of the U.S. Economy - Stacy
Curtin ‘In The Real State of America
Atlas: Mapping the Myths and Truths of the United States, authors Cynthia Enloe and Joni Seager paint a vivid
picture of life in the U.S., using a series of charts, graphics and short
essays that cover almost every aspect of the nation's economy and society as a
whole.
Not only do
they give state-by-state comparisons, they show how the U.S. measures up to the
rest of the world in areas such as health care, housing and defense. But while
analyzing what it's really like to live in the U.S. today, they also uncovered
a few "myths and truths" as the title of the book suggests.
Enloe and
Seager joined The Daily Ticker's Aaron Task to share three of the most
surprising misconceptions they uncovered.
#1 Land
of Homeowners
The dream of
owning a home is actually more the reality in other countries. In the book, the
authors point to the most recent data, which show only 68% of Americans owned
their home in 2002, compared with 92% in Hungry, 84% in Mexico, 72% in the U.K.
and 71% in Australia.
"One of
the things that is a cherished notion about America is we are a nation of
homeowners, and homeownership has long been seen as kind of the bedrock of the
American dream," says Seager. "I think the current economic crisis
and the housing crisis is really shaking that American cherished view of
ourselves as having easy access to homeownership."
This is
evident in another stat laid out in the book, which shows 83% of people agreed
that buying a home was a safe investment in 2003, compared with 70% in 2010. (See: Why
I Am Never Going to Own a Home Again)
{ Home
ownership hits lowest level since 1965 NEW YORK
(CNNMoney) Les Christie August 5, 2011 As the
foreclosure crisis continues to wreak havoc on the housing market, a source of
national pride has taken a sour turn. Home ownership is on the decline and,
according to a recent Morgan Stanley report…’ }
#2 Land
of Opportunity
Just like the
ideal of owning a home, opportunity in this country is now also on the brink.
"Opportunity
in this country means a chance for an education … [and] a chance for a decent
job that allows you to have a decent life," says Enloe, who points to two
key factors that hinder people making it here in America.
#3 Land of Givers
While the U.S. does give more money in foreign aid
than any other country in the world, as a percentage of GDP it falls way behind
many other nations.
Whereas Sweden gives almost 1% of its GDP in 2008,
the U.S. gave 0.19%.
"I think it really should shake Americans'
self-perception of two things," says Enloe. "[One] is cutting foreign
aid actually the ticket to balancing the budget, but also how do we shape up
compared to other countries' generosity?" ’
Debt
Deal Is A Blank Check at Forbes
U.S.
Economic Pessimism Grows - Stacy
Curtin ‘While Democrats
and Republicans were arguing over how to prevent the U.S. from a default,
families across the country have become increasingly concerned about the
overall state of the economy, according to the American Enterprise
Institute's latest compilation of recent polls taken in various regions.
Friday's worse
than expected GDP numbers only reaffirm this notion. The U.S. economy grew less
than expected in the second quarter at 1.3%, but the bigger shock came after Q1
GDP was revised down to 0.4% from 1.9%. These numbers suggest the country could
be headed for another recession and Americans are definitely feeling the pain.
(See: 2011
Is Proving to Be a Horrible Year For the Economy)
One of the
most disconcerting findings in the AEI report is a CBS/New York Times poll from
June. It showed that over the last year, more Americans have come to believe
the current economic downturn is part of a long-term permanent decline and that
the economy will never fully recover. In October 2010, 28% of respondents
agreed with that statement, versus 39% last month.
"Americans
are so pessimistic about the economy now ... . And the level of public
pessimism is actually higher than the deep 1981-82 recession overall," due
to grim personal outlooks on a number of issues like jobs, retirement and
health care, says Karlyn Bowman, a
senior fellow at AEI who co-authored the report. "Their negative
sentiments are affecting the way they feel about their family's future, and
interestingly, the way they feel about their state governments. Usually
negative attitudes about the national government don't seep into attitudes
about the state government, but this time it is really different. This
negative, gloomy mood is pervasive.
Speaker of the
House John Boehner echoed these concerns Thursday before one of the many failed
House votes to raise the country's debt ceiling. "This is a challenging
time for our country," he said. "Americans are worried about their
jobs. They're worried about our economy. And they're worried about our
debt."
Since the
polls in the report were conducted before the debt-ceiling debate really began
heating up over the last few weeks, one might conclude that if the same
questions were asked today the responses would be even more pessimistic.
Here are other
key findings from the AEI report:
Job
anxiety: In the past six
months, about 5% of Americans surveyed had lost their job, two in 10 said a
family member had lost a job, and six in 10 knew someone who lost a job.
In June 2011,
58 percent were very or somewhat worried they could lose a job in the next 12
months. Nearly eight in 10 say jobs are difficult to find where they live.
Around a quarter are worried about benefit or pay cuts.
Cutting
back: Americans are cutting
back on everything from health care to haircuts. Fewer than four in 10 say
their personal financial situation is in excellent or good shape right now.
Almost as many people say they are falling behind as believe they are getting
ahead, but the vast majority describe their financial situation as having just
enough money to maintain their standard of living. Inflation worries are high
and steady.
Retirement: There's been a dramatic drop in the number of
Americans who say they have enough money to retire. In 2002, around six in 10
believed they would have enough money. In the latest survey by Gallup in April,
only about four in 10 say they will.’
10
Reasons We Are Heading for a Recession
USAGOLD
RoundTable: Debt Ceiling “Resolution” – EU Sovereign Debt Crisis Aug 3rd,
2011 15:53 by News
We’re pleased to present our latest
RoundTable video discussion with our staff experts George Cooper, Peter Grant
and Jonathan Kosares {Immediate access here} Excerpt:
Now that the debt ceiling debate is over, and the dust is settling, the
market is beginning to get a picture of what, if anything, was accomplished,
and can be expected moving forward. The $2 trillion in cuts over ten years
amounts to a small dent in our annual deficit, suggesting that the U.S. will
continue to increase its debt to GDP ratio over the coming decade. The cuts
suggested will merely slow, not reverse, this trend. In the end, this debt deal
is nothing more than a giant kick of the can down the road, and a short road at
that. The hike to the debt ceiling looks to only buy about six months, so this
issue is set to be revisited next year. The market has digested this
“resolution” as such, and gold has responded sharply higher, rising $60 in two
days. The DOW meanwhile has come under significant pressure, shedding over 800
points in a week. Things across the pond are not looking any better. The credit
facility set up by the ECB is insufficient at best, and contagion remains an
enormous risk. Spreads on sovereign debt in Italy, Spain, Greece, Portugal and
Ireland are at or near all time highs. As talks of dramatically expanding the
credit facility heat up, we’re left to wonder if its even possible for Europe
to “go big enough” to calm market jitters. With Peter Grant, George Cooper, and
Jonathan Kosares. (24 min) The Daily Market Report
Aug 1st, 2011 12:01 by PG Relief?
What Relief? http://www.usagold.com/cpmforum
Late last night when party leaders and the President announced
that they had reached a bipartisan deal that would allow the debt ceiling to be
raised, gold dropped about 1%. Global stocks rallied in relief and briefly,
ever so briefly, gold was out of favor. However, as the details were revealed,
doubts were reignited: Doubts as to whether such legislation could actually
make it to the President’s desk. Doubts that the deal would avert a downgrade
of US sovereign debt.While the CBO scores the package as accomplishing $2.1
trillion in spending cuts over the next 10-years, the CBO baseline also has the
deficit rising $6.7 trillion over the same period. The premise apparently being
that we’re working our way to actual cutting by cutting to slow the pace of the
nation’s proliferate spending. In actuality — and as evidenced below — that CBO
baseline may prove to be way too optimistic.What really lit an intraday fire
under gold today was the big miss on US July ISM, which plunged to 50.9. The
market was expecting a modest downtick to 55.0 from 55.3 in June. On the heals
of last week’s much weaker than expected quarterly GDP data, it has become
abundantly apparent that the US economy has slowed to just above stall-speed.
David Rosenberg, chief economist at Gluskin Sheff and Associates, noted last
week that once the economy slows to a growth rate of 1.6% it has proven
historically to be a “point of no return” and recession follows. With Q1
downgraded to just 0.36% and Q2 an anemic 1.3% — and likely subject to future negative
revision as well — the writing may well be on the wall.The debt deal is a
short-term kick of the can that at least initially focuses on spending cuts.
However, with no mitigation of the uncertainties that have kept private capital
sidelined for the past two-years of the so-called recovery, there is little
reason to think that a more robust economy is just around the corner. In fact,
the opposite may be true. That realization, tipped in by the ISM data, has
further escalated the QE3 talk, which prompted gold to retest the record high
set Friday at 1632.39. Relief? What relief?If we get another negative surprise
on Friday when July nonfarm payrolls comes out, as the ISM employment index
suggests we might, the QE3 talk will intensify ever more in the weeks ahead of
the Fed’s Jackson Hole summit. Consensus on July payrolls are running around
+100k, although we could see some tempering of those expectations in light of
the ISM data.Even with the announcement of the debt ceiling deal, the dollar
remains on the ropes, falling to new record lows against the Swiss franc and
the yen. If this deal
makes it through both Houses of Congress and is signed by the President, it is
just another kick of the can — and a very short one at that — down the road.
And with the specter of yet another round of quantitative easing hanging over
the market, there is little incentive to buy dollars. Now the BoJ is once again
contemplating direct intervention in the market, as I suspect the SNB is. If
there are concerted efforts to slow the rise of these currencies, it may make
gold an even more alluring option.’
S&P
downgrades US credit rating from AAA The United States has lost its sterling credit rating
from Standard & Poor's.
S&P
Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet August 5, 2011,
‘Standard
& Poor’s is out with an official
downgrade of the U.S. credit rating:
• We have
lowered our long-term sovereign credit rating on the United States of America
to ‘AA+’ from ‘AAA’ and affirmed the ‘A-1+’ short-term rating.
• We have also
removed both the short- and long-term ratings from CreditWatch negative.
• The
downgrade reflects our opinion that the fiscal consolidation plan that Congress
and the Administration recently agreed to falls short of what, in our view,
would be necessary to stabilize the government’s medium-term debt dynamics.
• More
broadly, the downgrade reflects our view that the effectiveness, stability, and
predictability of American policymaking and political institutions have
weakened at a time of ongoing fiscal and economic challenges to a degree more
than we envisioned when we assigned a negative outlook to the rating on April
18, 2011.
• Since then,
we have changed our view of the difficulties in bridging the gulf between the
political parties over fiscal policy, which makes us pessimistic about the
capacity of Congress and the Administration to be able to leverage their
agreement this week into a broader fiscal consolidation plan that stabilizes
the government’s debt dynamics any time soon.
• The outlook
on the long-term rating is negative. We could lower the long-term rating to
‘AA’ within the next two years if we see that less reduction in spending than agreed
to, higher interest rates, or new fiscal pressures during the period result in
a higher general government debt trajectory than we currently assume in our
base case.
Investing
Insights: Is
the Debt Ceiling Raise Bullish for Gold?’
13
Reasons Why The U.S. Is Now OFFICIALLY BANKRUPT Daily Bail | Stop the budget lies;
there are NO cuts. House passes bill to INCREASE spending by $7 trillion over
the next 10 years. ATTENTION IDIOTS IN
THE MAINSTREAM MEDIA – Stop The Budget Lies – There Are NO Cuts – House Passes
Bill To INCREASE Spending By $7 Trillion Over The Next 10 Years
Lies,
Damn Lies And Government Budgets
I am so pissed
off by
the misreporting I could spit Ken Lewis hairballs.
#1) Corporate
journalists and financial pundits know NOTHING about budgets.
#2) The
Boehner led House passed legislation this evening that INCREASES
spending by $7 TRILLION over the next ten years versus a baseline budget
that would have increased spending by $9.5 TRILLION over the same period.
#3) CBO
said today that LESS than 2% of the decrease in the GROWTH of spending will
come before the 2012 elections. The remainder come after the election.
#4) Defense and
war machine spending will
grow at 3% per year instead of 4% per year.
#5) This was
nothing but an agreement to agree at a later date to look for reductions in
planned spending GROWTH.
#6) A Super Congress
will decide on a mix of tax increases and reductions in planned spending growth
to meet the targets at a later date.
#7) No
one in Congress even considered Ron Paul’s simple plan, now endorsed by Time
Magazine as well as liberal economist Dean Baker, to wipe out $1.6 trillion in
fake debt owned by the Federal Reserve. Debt that we owe to ourselves, that is entirely legal to wipe away.
#8.) CBO says under this plan, the national debt will
INCREASE from $14.4 TRILLION currently to more than $25 TRILLION over the next
10 years.
#9) The assumption for #8 above assumes the economy
grows at 3% per year over the next 10 years, and that Treasury interest rates
stay at historic lows. When rates increase, and bet your life that they will,
interest on the debt will increase and so will annual deficits, leading to a
national debt much higher
than the $25 TRILLION that CBO estimates.
#10) Regarding Treasury rates and interest on the
debt, get educated about a concept called ‘DURATION RISK.’ Turbo Geithner and
his MENSA bed-fellows at Treasury have chosen to finance the great majority of
recent and future borrowing in short-term bills, which means that they have to
be rolled over frequently. This is perhaps the least-discussed and most
dangerous issue related to Treasury debt.
#12) The bill passed by Boehner tonight was the BEST
they could do after 6 weeks of fighting.
#13) Due to #12, the United States is officially
f*cked.
Thank you and good night.’
US
Closer to ‘Junk Bond’ Status Than Triple-A: Bove Aug 9th, 2011 14:41 by News August 9 (CNBC) — ‘ “You’ve got a company which is losing about
$1.4 trillion this year, probably will lose somewhere around a trillion dollars
over the next couple of years. It owes $14.4 trillion (and) over the next five
years that will get up to $20 trillion,” the Rochdale Securities analyst
said.“So there’s no likelihood whatsoever that this particular company is able
to pay down from its own resources the amount of debt that it has, nor is there
any likelihood that it’s going to get rid of its deficit,” he added. “If that
was a real company, of course, that would be a junk bond.”“I still would expect
to see a thousand-point down day at some point in this market as people come to
realize there has been a complete change in the financial structure of the
world,” he said’
If
U.S. Slides Into Recession, S&P 500 Could Drop To 830 at Forbes [The pervasively corrupt, defacto bankrupt
u.s. is already in recession (actually worse)!
Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude
To Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis… My work shows that “the new
recession has started.”… Over the past 33 years, we have called the start of
every recession, often on the exact month, or within one month, of the official
start as determined one year later by the official arbiter of recession, the
National Bureau of Economic Research (NBER)… However, inflation is far
understated for political reasons. Currently, the GDP deflator is 1.8%, which
hardly reflects the true rise in prices. Therefore, what is counted as
“growth,” is actually price increases. Actual inflation, according to free
market economists who calculate inflation as it was done in 1980 before the
politician re-engineered it, is now more than 11%. Using that to adjust GDP for
inflation, would show that the economy is now in a very sharp
contraction…’FLASHBACK HERE: Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The
5-year high in the level of insider corporate stock sales is telling. At 565
sells for every 1 buy, it’s never been higher. Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell ]
3
Ring Circus: Geithner, Buffett, and Obama Wall St. Cheat Sheet ‘…Treasury Secretary Tim
Geithner , who said last April that there was no risk the U.S. could loose its
AAA credit rating, voiced his thoughts on the downgrade. He said, “
They’ve handled themselves very poorly, and they’ve shown a stunning lack of
knowledge about the basic U.S. fiscal budget math.” What exactly are they
misunderstanding? The U.S. is the largest debtor nation in the world, and
spending outlays vastly outnumber revenue. Geithner went on to say that
U.S. bonds were just as safe after the downgrade as before, and predicted that
China and investors would remain strong buyers of government debt.On Monday
morning, with stock futures heading sharply lower, Warren Buffett tried to
inject confidence into the financial markets. Buffett explained that he believes
the U.S. debt is still rated AAA, and the downgrade does not change his mind
about government debt. In fact, the legendary investor holds $47 billion
in cash and equivalents as of June 30th. He said, “ If I have to buy
Treasuries at zero percent yield, I will.” At least the large cash hoard
shows that Buffett puts his money where his mouth is. However, one also
has to wonder if Buffett’s shareholdings in Moody’s , a rival credit agency to
S&P, has anything to do with his criticism of S&P. To add fuel to
the fire, S&P also cut Buffett’s Berkshire Hathaway outlook from stable to
negative.Not to be outdone by Warren Buffett’s AAA endorsement, President Obama
made a public announcement of his own on Monday. Despite America’s
financial hardship across the board, the President said, “ I’d give U.S. a
quadruple-A rating.” This was puzzling for many reasons ( besides the
fact there is no quadruple-A rating). America has a hard enough time
keeping its AA+ or AAA rating, let alone achieving some pipe dream quadruple-A
rating. S&P may be the credit agency causing controversy now, but
it’s not the only credit agency to downgrade America. China’s credit
rating agency Dagong , recently cut America’s debt rating from A+ to A,
with a negative outlook. Dagong had already cut America’s credit rating
last November from AA to A+ after QE2 was announced.By the end of Monday, it
was announced that the Senate banking committee had started a probe into the
downgrade actions of S&P. However, the damage is already done, confidence
is broken in the markets. Gold constantly reaching new highs is a clear
example of this. Perhaps the Senate banking committee should probe Fitch
and Moody’s and investigate why they still have AAA ratings on U.S. debt?...’
Izabella Kaminska on Aug
09 2011
Thought the current turmoil was down to the downgrade
of US debt? Wrong!
According to Societe Generale’s uber bear, Albert
Edwards, this has absolutely nothing to do with S&P, the White House, Tea
Party etc. It’s the economy stupid:
The simple
fact is that the global economy is falling back into recession or indeed is
already in recession. Equity
markets were sliding before the downgrade and bond yields were reacting as one
would have expected to the dire economic data. The S&P downgrade may have
caused the breach of critical support levels of 1250 on the S&P, but
anything could have caused that breach and triggered the technical rout. Expect
some sort of retest of this neckline before the market ultimately meets its
date with destiny.
Recent US GDP
revisions revealed QE2 to be an abject failure as far as producing an economic
recovery is concerned with dire 0.9% annualised growth reported in H1 2011. Yet
to a man with a hammer, everything is a nail. Hence despite rising core
inflation, there is certainly a level of economic and/or market pain to prompt
QE3. But expect the real fireworks to occur when the adrenalin rush of QE3
wears off even quicker than QE2.
There are still
some diehard ‘happy clappies’ out there who think we are going to avert
recession and the markets will recover.
Yet US GDP growth has now fallen below the wellknown 2% stall speed, below
which the economy does not seem to be able to regain altitude but instead
crashes directly into recession.
Which means it’s time to come to terms with the fact
that recession 2.0 (or was it ever really a recovery?) is on its way whether
you like it or not:
At the current (Q2)
rate of 1.6% yoy GDP growth, my fellow bear (realist?), David Rosenberg at
Gluskin Sheff, points out in the chart below that a US recession is almost
certainly a done deal (never say certain, as in 1956, when recession was
temporarily averted for all of nine months). But with this sort of record the onus is now on the optimists to
demonstrate why on earth they still believe in a second-half recovery and
growth in 2012.
Now, anyone who bought into the dulcet tones of the
bullish brigrade is likely to do very badly. A fact which will come as hubris.
In Edwards’ opinion if you were dumb enough to listen to that story, well… you
reap what you sow:
And in the same way
that a country is said to get the government it deserves, I believe the market
gets the macro commentators it deserves: i.e. perpetually bullish analysts,
taking no personal risk with their never-ending consensus chatter.
After all it was always pretty obvious what was going
to happen.
It was just a question of when, rather than if:
Put into its proper
Ice Age context, the events of the past decade are entirely explicable. As we
see a short-lived economic recovery failing only two years into the cycle and a
plunge back into recession, we remind investors that this was exactly the Ice
Age template that Japan showed us. A fragile recovery undermined by private
sector deleveraging collapses as a semi-bankrupt government tries to rein in
runaway deficits.
What next? Well, it’s Ice Age 3.
Here’s how it goes and this is very much of the
moment (especially if you are a London resident):
We are now entering
the third phase of the Ice Age when another cyclical failure combines with a
secular de-rating of equities and re-rating of government bonds. I and many
others have been pointing out for a long time now the simple fact that the
global economy has been living way beyond its means for years. A massive transfer of income to the very rich has
occurred while middle class real incomes stagnated. The middle classes only
tolerated this because Central Bankers created housing booms to keep the
impoverished middle classes borrowing and spending to give them the illusion of
prosperity and stop them from revolting.
I believe the Fed
and Bank of England, in particular, were wholly complicit in this
‘daylight robbery’ (see
link). These unsustainable private sector, debt mountains
were transferred to the public sector in 2008 to prevent the adjustment to
the depression-era reality that the debt unwind would undoubtedly have
brought about. Yet, those debts are as unsustainable in the hands of the
public sector as they were in the private sector.
Central bank
polices haven’t changed though. Print and print and print. And if that doesn’t
work, print some more. And as London burns, the point I have always made is
that the US and UK are not like Japan in one very special way. Although Japan
suffered a decade of pain it is a very homogenous, equal society. The UK and US
are not. Some readers may not know that rioting and looting has broken out
around London. While I hear the UK
politicians denounce the looters as common criminals (which of course they
are), I can’t help but think that Louis XVI in 1789 and Tsar Nicolas II in 1917
might have said the same thing.
Crikey,
Here comes the revolution. Prepare.’
The Fed didn’t
announce a new policy. And despite what some press reports said, it didn’t even
commit to keeping rates low; all it did was say that if the economy stays weak,
rates will stay low — well, duh — and that it might think about doing other
stuff one of these days.
Durden is amazed:
Following a 600
point plunge in the DJIA yesterday, today we see a 400 point surge following
the presentation of the weak case of the expected Bernanke Put. And completing
the amazement, the 10 Year bond, moved to almost record lows, and then retraced
virtually the entire move, as nobody knows what central planning has in store
for America any longer. Additionally, after being up 50%, VIX is now down 22%.
Congratulations Ben: in taking central planning to nth double-down
levels, you have now broken not only the stock, but the bond market as well…’
The 10
Most Indebted Governments in the World
http://wallstcheatsheet.com/stocks/the-10-most-indebted-governments-in-the-world.html
‘…Coming in first place is Japan (NYSE:EWJ),
with a whopping $13.795 trillion in debt, just short of the the $14.27 trillion
in debt the U.S. carries .. Coming in second against Japan in terms of its
debt-to-GDP ratio is Greece, where debt is a relatively low 139% of GDPHot
Feature: Who Owns U.S. Debt? Following Greece on the
list is Italy (NYSE:EWI), then Iceland, Belgium, Ireland, and the U.S. So
why isn’t Japan enduring the same kind of financial crisis that so many
countries with significantly less debt are currently facing? The answer is
simple: Japan owes most of its debt to itself. In comparison, the U.S. owes
about 30% of its debt to foreign investors, with China (NYSE:FXI)
holding $1.1 billion in U.S. debt, more than any other country…’
Fear Index
VIX Up 50%, And In Backwardation, Confirms Fully Fledged Bear Market Volatility slapped markets in the face on Monday,
surging 50% in its biggest one-day move since February 2007. Furthermore,
the whole VIX futures curve has been inverted and is in backwardation, indi...
The Entire
World Is Going Bear Market Business Insider | A scary aspect of this
selloff: There’s nowhere safe.
8 More Reasons Why You Should Be Deeply Concerned That
The U.S. Government Has Lost Its AAA Credit Rating The Economic
Collapse | Are you ready for part two of the global financial collapse? When we
examine this “deal” that way, what does it look like? The
Economic Collapse Aug 9, 2011 ‘Are you ready for part two
of the global financial collapse? Many now fear that we may be on the
verge of a repeat of 2008 after the events of the last several days. On
Friday, Standard & Poor’s stripped the U.S. government of its AAA credit
rating for the first time in history. World financial markets had been
anticipating a potential downgrade, but that still didn’t stop panic from
ensuing as this week began. On Monday, the Dow Jones Industrial
Average dropped 634.76 points, which represented a 5.5 percent plunge. It
was the largest one day point decline and the largest one day percentage
decline since December 1, 2008. Overall, stocks have fallen by about 15
percent over the past two weeks. When Standard & Poor’s downgraded
long-term U.S. government debt from AAA to AA+, it was just one more indication
that faith in the U.S. financial system is faltering. Previously, U.S.
government debt had a AAA rating from S&P continuously since 1941, but now
that streak is over. Nobody is quite sure what comes next. We
truly are in unprecedented territory. But one thing is for sure – there
is a lot of fear in the air right now.So exactly what caused S&P to
downgrade U.S. government debt?Well, it was the debt ceiling deal that broke
the camel’s back.According to S&P, the
debt ceiling deal “falls short of what, in our view, would be necessary to
stabilize the government’s medium-term debt dynamics.”As I have written about
previously, the debt ceiling deal was a complete and
total joke, and S&P realized this.Forget all of the huge figures that the
mainstream media has been throwing at you concerning this debt ceiling
deal. The only numbers that matter are for what happens before the next
election.The only way that the current debt ceiling deal will last beyond the
2012 election is if Obama is still president, the Democrats still control the
Senate and the Republicans still control the House. If any of those
things change, this deal ceiling deal is dead as soon as the election is
over.Even if all of those things remain the same, there is still a very good
chance that we would see dramatic changes to the deal after the next
election.So in evaluating this “deal”, the important thing is to look at what
is going to happen prior to the 2012 election.Well, Barack Obama and the
Democrats get the debt ceiling raised by over 2 trillion dollars and will not
have to worry about it again until after the 2012 election.The Republicans get
25 billion dollars in “savings” from spending increases that will be
cancelled.The “Super Congress” that is supposed to be coming up with the second
phase of the plan may propose some additional “spending cuts” that would go
into effect before the 2012 election, but that seems unlikely.So in the final
analysis, the Democrats won the debt ceiling battle by a landslide.25 billion
dollars is not even 1 percent of the federal budget. The U.S. national debt continues to spiral wildly out of
control, and our politicians could not even cut the budget by one
percent.Somehow our politicians believed that the rest of the world would be
convinced that they were serious about cutting the budget, but it turns out
that global financial markets are tired of getting fooled.It has gotten to the
point where now even the big credit rating agencies are being forced to do
something. Not that they really have much credibility left.
Everyone still remembers all of those AAA-rated mortgage-backed securities that
imploded during the last financial crisis. The reality is that the big
credit rating agencies are a bad joke at this point.Several smaller credit
rating agencies have already significantly slashed the credit rating of the
U.S. government. But a lot of pressure had been put on the “big three” to
keep them in line.But now things have gotten so ridiculous that S&P felt
forced to make a move.Sadly, our politicians are still trying to maintain the charade
that everything is okay. Barack Obama says that financial
markets “still believe our credit is AAA and the world’s investors agree”.Once
again, Barack Obama is dead wrong.The truth is that the credit rating for the
U.S. government should have been slashed significantly a long time ago.
This move by S&P was way, way overdue.Moody’s might be the next one to
issue a downgrade. At the moment, Moody’s says that it will not be
downgrading U.S. debt for now, but Moody’s also says that it has serious doubts about the enforceability of
the “budget cuts” in the debt ceiling deal.This crisis is just beginning.
It is going to play out over time, and it is going to be very messy.The
following are 8 more reasons why you should be deeply concerned that the U.S.
government has lost its AAA credit rating….
#1 The U.S. dollar and U.S. government debt are at the
very heart of the global financial system. This credit rating downgrade
just doesn’t affect the United States – it literally shakes the financial
foundations of the entire world.
#2 As the stock market crashes, investors are flocking
to U.S. Treasuries right now. However, once the current panic is over the
U.S. could be faced with increased borrowing costs. The credit rating
downgrade is a signal to investors that they should be receiving a higher rate
of return for investing in U.S. government debt. If interest rates on
U.S. government debt do end up going up, that is going to make it more
expensive for the U.S. government to borrow money. The higher interest on
the national debt goes, the more difficult it is going to become to balance the
budget.
#3 We could literally see hundreds of other credit
rating downgrades now that long-term U.S. government debt has been
downgraded. For example, S&P has already slashed the credit ratings
of Fannie Mae and Freddie Mac from AAA to AA+. S&P has also already begun to
downgrade the credit ratings of states and municipalities. Nobody is
quite sure when we are going to see the dominoes stop falling, and this is not
going to be a good thing for the U.S. economy.
#4 10-year U.S. Treasuries are the basis for a whole
lot of other interest rates throughout our economy. If we see the rate
for 10-year U.S. Treasuries go up significantly, it will suddenly become a lot
more expensive to get a car loan or a home loan.
#5 The current financial panic caused by this downgrade
is hitting financial stocks really hard. The big banks led the decline
back in 2008, and it looks like it might be happening again. Just check
out what CNN says happened to
financial stocks on Monday….
Financial stocks were among the hardest hit, with Bank of
America (BAC, Fortune 500) plunging 20%, and Citigroup (C, Fortune 500) and
Morgan Stanley (MS, Fortune 500) dropped roughly 15%.
#6
China is freaking out. China’s official news
agency says that China “has every right now to demand the United States to
address its structural debt problems and ensure the safety of China’s dollar
assets”. If China starts dumping U.S. government debt that would make
things a lot worse.
#7
There are already calls for the Federal Reserve to step in and do
something. If the U.S. economy drops into another recession, will we see
more quantitative easing? It seems like we have reached a point where the
Fed is constantly in “emergency mode”.
#8
The U.S. national debt continues to get worse by the day. Just check out
what economics
professor Laurence J. Kotlikoff recently told NPR….
“If you add up all the promises that have been made for spending
obligations, including defense expenditures, and you subtract all the taxes
that we expect to collect, the difference is $211 trillion. That’s the fiscal
gap”
Dick Cheney once said that “deficits don’t matter”,
but the truth is that all of the debt we have been piling up for decades is now
catching up with us.The United States is in such a huge amount of financial
trouble that it is hard to put into words. The days of easy borrowing for
the U.S government are starting to come to an end. We have been living in
the greatest debt bubble in the history of the world, and it has fueled a
tremendous amount of “prosperity”, but now the party is ending.
A whole lot of financial pain is on the
horizon. Please prepare for the hard times that are coming.’
Don't
Fall For The Market's Head Fakes at
Forbes David Trainer ‘The market decline experienced thus far
is closer to its beginning rather than its end. Tuesday’s refreshing market
rise was likely just a flash in the pan.
There is nothing
that politicians or regulators can do to prevent the natural price discovery
that is critical to the long-term health of our capitalist system.
The market
needs to go down again before it can sustain any future rise.
We simply
must deal with the loads of toxic and mis-allocated capital that our profligate
society has created over the past 20+ years.
Allow me to
explain how we got ourselves in this situation. The figure below highlights
the three successive stock market bubbles in just over 10 years. Compare
the size of these bubbles and the rise in stock prices over the last 25 years
compared to the prior 65 years. A simple trendline further accentuates
just how much stock prices have appreciated compared to historical
trends.
Figure
1: Historically Enormous Stock Market Bubbles Keep Coming Back
http://blog.newconstructs.com/wp-content/uploads/2011/08/figure1.jpg
Sources:
New
Constructs, LLC and Ibbotson Ibbotson, 2010 Ibbotson Stocks, Bonds, Bills
and Inflation Valuation Yearbook, (Chicago: Morning Star, 2008), 228–229.
*Large Cap Stocks as defined by Ibbotson are the best comparison for the
S&P 500, which did not exist as it does today in 1926.
I am not suggesting
that stock prices should revert to the long-term trendline. I fully appreciate
the accelerating pace of innovation realized by our society and its
impact on standards of living and improved utilization of resources.
There is no
question that we live in unprecedented times of prosperity and wealth creation.
And technology holds great promise for the future achievement of mankind and
will drive improvement in the standards of living around the world.
The problem
is that we have gotten ahead of ourselves. By how much, I am not sure. But I
am sure that we are due a (lasting) correction in the stock market, and the
longer that correction is put off, the more painful it will be.
To illustrate,
let’s review what drove the last two market bubbles.
Now, let’s review what happened after these bubbles burst.
See the response pattern? See how it affected the
markets?
It is as if the bubbles never burst. Game back on.
Like a high-school party, the music stops and everyone is quiet when the cops
show up. Someone convinces the cops that nothing unscrupulous is going on
and all will be calm and quiet. Then, as soon as the cop car is out of sight,
the music gets turned back on and the party goes harder.
What will be the response to the third bubble that
is forming?
That is the question that I think the market is
finally facing. The answer is not the same as before.
The government has run out of stimulus and policy
bullets.
Really, what else can politicians and regulators
do to engineer a soft landing, or should I say, another bubble.
Figure 1 shows that we never really landed. We
rocketed from one bubble to the next.
Let’s take a look at the options available via the
two main forces for stimulating economic recovery:
So, who is going to bail us out this time?
My overriding message is that no one should have
bailed us out to begin with. The longer we avoid the painful process of deleveraging
and returning to a more deliberate and rational mode of capital allocation,
the more we delay the inevitable. The more we shift the blame for our financial
mistakes to the public sector, the deeper the hole we must dig out of.
Which brings me to the next point: shifting responsibility
to the public sector, i.e. government, presents some very serious problems
and headwinds for future growth:
Until we allow the natural price discovery that
unfettered markets are designed to provide, we continue to subsidize
unproductive investments. And the longer we subsidize unproductive
investments, the more wealth (and jobs) we destroy in the present and in the
future.
Sure, it feels better when the stock market skyrockets,
bank accounts are fat, growth is strong and the financial future is bright.
Wasn’t that what we got in the 1990s, then again in the first decade of this
century?
It cannot go on forever. Consider how much the
housing bubble was driven by too much borrowing? Though financing might be
cheap and easy to get for extended periods of time, there is not an infinite
supply.
At its core, borrowing is simply a method of cashing
in today on future earnings. The more we borrow against future earnings, the
less we have in the future.
Using borrowed funds to subsidize unproductive
investments only compounds and accelerates wealth destruction.
Keynesian policies can be successful in certain
situations and for limited amounts of time, but they cannot be sustained
infinitely. Borrowing and spending by the government can help the economy
survive a soft patch or decrease the depth of a recession, but it does not
fix the underlying capital allocation problem.
Keynesian economic policies are patches to economic
problems, not fixes. If extended for too long, they only make matters worse.
Before the housing bubble, the government was levered
to the hilt. After the housing bubble, consumers are also levered to the
hilt. Both are struggling to balance their checkbooks.
So who is left to bail us out? Only two potential
candidates: American corporations and foreign countries.
A quick survey of the status of the other major economic
powers is not exactly inspiring. China is slowing growth to fight its inflation
problems. The European Unions, well, they have their own problems. Japan is
not exactly prospering. In general, there are few, if any, global economic
bright spots. None are large enough to bail out anyone.
There are many bright spots in corporate America.
Companies like Apple (AAPL-very attractive rating), Google (GOOG-very attractive rating), Microsoft (MSFT-very attractive rating) and many others
are as profitable as ever. Their returns on capital rank among the very best
in the world. They are shining examples of capital realizing its highest
and best use. For the country as a whole, cash flow returns on assets are near
all-time highs. Much of the recent profits, however, have come at the expense
of the consumer as wages have grown much more slowly than profits.
Then, there are the banks. US banks recently enjoyed
the largest bailout in the history of the world. Further, their profit margins
have been subsidized by sustained low interest rates. And yet, they are
lending little money.
Is the problem that banks do not want to lend or
that there are not enough borrowers?
I think the answer is both. Many banks are still carrying
a great deal of toxic assets. With so much risk already on their balance
sheet, they cannot afford to take on more.
As for borrowers, the uncertain tax, regulatory
and economic outlooks are not exactly enticing entrepreneurs, small and
large businesses to take risk.
To summarize, there is no one left to bail us out
this time.
So, what happens next? We buckle down and face the
long hard road to true, not artificially subsidized recovery.
We recognize facts:
In the meantime, the stock market and economic
activity will continue to suffer. No pain no gain.’
Stock
Market Slide Is the Latest Blow to the Middle ClassThe Daily Ticker Peter Gorenstein ‘Stocks resumed
their decline on Wednesday -- the third big drop in the last five trading days.
The Dow Jones Industrial
Average closed down 520 points, or 4.6%. The S&P 500 fell 4.4% to close
at 1,121, while the Nasdaq
was taken down more than 101 points to the end the day at 2,381.In other words,
Tuesday's gains, in which the Dow jumped 430 points, are a distant
memory.Stocks are on track for their worst monthly drop since after the Lehman
Brothers bankruptcy in the fall of 2008. After making steady gains in their
401(k) plans since then, average Americans are once again falling further
behind on their retirement goals. The recent drop in the market is making
headlines, but as Aaron Task and the Breakout team discuss in this clip, it's
by no means the only economic hardship facing the middle class -- it's just the
latest. Here are some other headlines you might have missed while you were
watching your portfolio shrink over the last few days.
HORRIFIC
HOUSING MARKET
Existing home
sales fell 2.8%
in the second quarter compared to a year ago, according to the National
Association of Realtors. The number of home sales is also off, falling 5.4%
from the previous quarter and is down almost 13% compared to the sometime last
year. At this rate the housing market will continue to be a drag on the
economy.
BACKDOOR
BAILOUT FOR BANKS
Meanwhile, as
homeowner pain reaches new heights, it appears banks continue to receive
favorable treatment from the government. The
Wall Street Journal reports Fannie Mae -- essentially a government entity
(that by the way continues to receive billions in taxpayer aid each quarter) --
just spent $500 million to buy the servicing rights to a Bank of America (BAC) portfolio of
"seven million loans still causing the most problems." That's what
they call a backdoor bailout.Speaking of Bank of America, the stock continued
to mirror the pattern of steep sell-offs and furious rallies seen in the
broader market. This time, shares of BofA were down 10.9% to $6.77. A
conference call held by CEO Brian Moynihan with investors, led by Fairholme's
Bruce Berkowitz, didn't help the bank's cause. According to a summary
of the call in the WSJ, Moynihan pushed back against those who would
question how he has performed while leading the company, and he said BofA would
not part ways with brokerage firm Merrill Lynch. Additionally, he said there
weren't "many days when I get up and think positively about the
Countrywide transaction in 2008."BofA bought the big mortgage firm during
the 2008 credit crisis, and it has been responsible for a gigantic financial
drag on the firm in the time since.
FED'S
FOLLY
The Federal
Reserve on Tuesday said it will keep interest rates "exceptionally
low" through the middle of 2013. That and the possibility of more
quantitative easing may eventually reflate assets -- a good thing for stock
portfolios. The problem is the Fed's reaction to the crisis has and will
continue to do little to improve real economic conditions, such as stubbornly
high unemployment, which remains at 9.1% more than two years after the
financial crisis. And, for those able to save some money, the low interest
rates aren't rewarding your bank accounts. Add it all up, and unfortunately
there's little to feel good about.’
The
following is my comment to an LA Times article regarding a Justice Department
cover-up! As for your inquiry, all I think about day and night is a long
overdue resolution to the RICO litigation as set forth therein:
I
believe him!
Here’s some real, complicit
cover-up / fraud on the part of the federal government, et als:
October
15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5
pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf
http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as
fbicorrespondencereyes.htm . With regard to
the calls to the FBI’s LA and New Haven, CT offices: There was one call to the
LA office and I was referred to the Long Beach, CA office where I personally
met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of
the money laundering which he confirmed as indicative of same (he was
transferred from said office within approximately a month of said meeting and
his location was not disclosed to me upon inquiry). The matter was assigned to
FBI Agent Ron Barndollar and we remained in touch for in excess of a decade
until he abruptly retired (our last conversation prior to his retirement
related to the case and parenthetically, Rudy Giuliani whose father I stated
had been an enforcer for the mob to which he registered disbelief and requested
I prove it, which I did – he served 12 years in prison, aggravated
assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew
Maloney’s the one that prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was flawed
as set forth below and my inquiries to the u.s. postal service rebuffed (I
believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely
and Regards,
Al
Peia
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
Five
myths about the Dow What drives it up and down? Is it a good market
barometer? (Washington Post) [ Yeah! This is a great topic which seems an age-old
quandary manifesting in different forms at different times. Indeed, in my
evening MBA program studies at NYU, GBA (MBA Finance, 1977) the ‘questions’
concerning the Dow from an investment perspective were in no short supply (ie.,
from not being representative of the market, to higher p/e multiples, to slower
growth from mature companies, to higher prices per share on an absolute basis,
etc.). When asked why the Dow, the Security Analysis Professor, Dr. Douglas
Bellmore, an extremely successful analyst / investor / author on finance in his
own right, and head of the research arm / department of an institutional wall
street brokerage firm by day, would respond simply by saying, ‘ he wasn’t
interested in ‘buying the market’ (cited were concerns of liquidity with his
oft-repeated rhetorical quip, ‘sell … to whom?’, which was often problematic to
the substantial downside then, particularly for Nasdaq / Over-the-counter’
issues which is far less problematic today with computer efficiency undreamed
of then (though also now used for nefarious fraudulent purposes undreamed of
then)[ I began my MBA thesis with him and completed same owing to his vacation
in the summer, 1977, with the great, eloquent, and astute Economist /
Professor, Dr. Robert Kavesh (‘Economic Forecasting’ Butler and Kavesh – I had
his course of the same name as his book) since I was beginning law school
evenings that fall. ] ( Interestingly, in the bond analysis portion of the
course I asked whether you can and should rely on the rating companies, predominantly
S&P. He paused, and said ‘that’s a good question’ – it was also the only
time he said such of my questions – then responded affirmatively, ‘yes, you can
rely on them’ (different time, different place – I’m sure his answer would have
been substantially different today). The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! So what’s changed of significance (other than the
full moon and consequent effects on the lunatic wall street frauds Train
Reading: The Stock Market Is Insane
The Wall Street Journal
GE
‘all in’ on aviation deal with China
Challenge of China: Put technology on the table — and keep some U.S.
jobs — or miss the huge market. (Washington Post) [ ‘Lotta weighin’ goin’ on!
Riiiiight! Don’t make me laugh! Is
China Bad For The US Job Market? at
Forbes [ Duh! Ya think. Come on! Even rhetorically there’s no real question
here. There’s no upside nor room for discussion on this point. Even when
thinking they’re buying american, ie., apple, etc., they’re buying Chinese,
Korean, Japanese, etc. (components); and yet, american tech is still absolutely
horrendous. And, let me add that the communist Chinese are far from brilliant;
one need only witness that Chinese leader standing with ‘lobotomy joe biden’ assuring
all they’ll be no default … double duh! … as pervasively corrupt, defacto
bankrupt america’s printing those evermore worthless dollars at warp speed.
What dopes they are! Yes, like the bureaucratic plutocracy americans the
communist Chinese whose success is measured in capitalistic terms are getting
dumber and dumber like ‘their american fiances’. ] Has China
single handedly destroyed the U.S. job market? [Not china, but rather those
geniuses at the cia, nsa, corporate execs, the bushes/poppy-san the former
communist Chinese ambassador and that strategic ‘engagement’ thing. Wake up …
smell the b***s***, not roses! ]
Rep.
Waters to tea party: ‘Go straight to hell’ (Washington Post) [ Drudgereport: SANTORUM: 'maxine waters is vile' [
she’s worse than that, and a total embarassment for america and california
particularly! ] ...
Maxine
Waters: 'The tea party can go straight to hell'...
Tea Party
fires back...
MORGAN
FREEMAN TELLS OBAMA TO 'GET PISSED OFF' [ sounds like a plan … ****** to ******
… the ****** plan! ] ...
Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job...
Philadelphia
extends curfew after flash mobs [ new u.s. Christmas carol – ‘america’s
beginning to look a lot like sub-saharan africa, everywhere you go’ . They are beasts
of burden at most who are a burden to most at best … you’ll never change them … Think about all
those costly ‘make-work’ jobs that serve no real economic purpose; ie.,
federal, state, local, uspostal service, etc.. And, they can’t even do those
jobs reliably, efficiently, effectively which is a drag on civilized society! ]
...
Details of Obama’s jobs plan emerge President is thinking about proposing tax cuts for companies that hire workers, new spending for roads and construction, and other measures that target the long-term unemployed, administration officials say. (Washington Post) [ Oh come on! Too little, too late for ‘wobama the b’ (for b***s***), the eternal campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***). Really! He’s a total embarrassment out there on the campaign trail; and just as much an embarrassment for those who turn out to see him … maybe he’s somewhat of an allure as in a freak show. He’s a total joke! To be finally talking jobs and things just before the election having broken previous campaign promises in his failed role as ‘bush failure 3’. Even his pension is undeserved so much a fraud is he! Black caucus: Tired of making excuses for Obama [ They are not alone! ] Washington Examiner | A key member of the Congressional Black Caucus says they don’t pressure President Obama because he is loved by black voters. Obama ‘Takes More Vacations Than Any Human Being I’ve Ever Seen’ Fox News | “Here we have a country that really is going to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s, Says Gallup CNS News | Obama’s politically charged but taxpayer funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84% Paul Joseph Watson | Americans are more upset with political leadership than ever before.
Drudgereport: BLACK
CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s
b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be
taken in by their b***s***; they’ll ‘back the black’ every time,
regardless! ]New
low of 26% approve of Obama on economy...
Inflation
builds...
FOOD PRICES
RISING...
UNEMPLOYMENT
UP...
OBAMA TO LAY
OUT JOBS PLAN -- AFTER VACATION...
'Takes More
Vacations Than Any Human Being I've Ever Seen'...
Commiserates
with jobless, then off to the Vineyard...
Even
that italian, belafonte, isn’t buying ‘wobama brand(ed)’:
Drudgereport: HARRY
BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40%
APPROVAL...
Obama takes
debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
European
bank continues bond-buying It has become the region’s “last resort”
investor as it tries to keep a lid on the rates paid by Italy, Spain. (Washington Post) [ Nothing succeeds quite
like failure in the ‘new west’. From people-killing, nation-bankrupting,
nation-destroying perma wars to QE’s to gimmicks to ‘warp speed’ currency
printing presses, the lock-step rush for the abyss like lemmings they’ve
become. Never mind that across the board, such as the aforementioned has
actually exacerbated the crisis / problems they were supposedly meant to solve.
This truly has become a ubiquitous scenario of the blind leading the blind;
with the blindest of all, viz., pervasively corrupt – defacto bankrupt america,
leading the charge (no pun intended – though their credit bears mentioning - 8
More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has
Lost Its AAA Credit Rating The Economic Collapse ‘…
#8 The U.S. national debt continues to get worse by the
day. Just check out what economics
professor Laurence J. Kotlikoff recently told NPR….“If you add up
all the promises that have been made for spending obligations, including
defense expenditures, and you subtract all the taxes that we expect to collect,
the difference is $211 trillion. That’s the fiscal gap” ..’ Why
You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The
market is building momentum to the downside’). ! Italy
unveils plan to calm fears of escalating crisis (WP) [ Yeah, dem piigs were back in the news. ’ Dem PIIGS still got problems. Europe’s
debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close
call! There you go. Nothing to worry about now that wobama’s got a boehner … so
not to be so hard on them; if pelosi says it, it must be true … Not!
…Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey
to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all
know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey
PIIGS they’ll be back to the trough for more … slop … py. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ ]
As
investors panic, CEOs vote with their wallets for local companies August
has seen a historic uptick in the number of corporate insiders buying shares of
their companies. (Washington Post) [ I’m now sorry I didn’t save the article
that spoke to this recent phenomena as being contraindicated and not a good
sign but rather merely a function of some recent fine print in new compensation
plans constrained by current and expected poor financial / economic results.
Indeed, of greater import is as pointed out by Navin just months ago: Stock
Market: 4 Current Warning Signs
Navin ‘…1) The
5-year high in the level of insider corporate stock sales is telling. At 565
sells for every 1 buy, it’s never been higher. Yes,
it’s normal for insiders to be selling some of their stocks so they can buy new
yachts and some of this is pre-planned. But that ratio — which has spiked
recently — is extraordinarily high, one might even say off-the-chart‘ The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! Train
Reading: The Stock Market Is Insane
The Wall Street Journal , Accounting
Gimmics Resurface as Growth Flounders at
TheStreet ‘Rebekah Smith, director of financial advisory services at
accounting and consulting firm GBQ consulting, says accounting tricks and
schemes are likely to start unraveling as we head into 2012 and the lag effect
catches up. "The typical accounting fraud goes on for about 18 to 26
months before it is uncovered. The frauds that took place in 2009 are not going
to surface until later in 2011 or into 2012." ‘ ,
Morgan
Stanley Biggest Welfare Recipient as Federal Reserve Lent Banks $1.2 Trillion
During Financial Crisis Wall St.
Cheat Sheet , Minyanville's
T3 Daily Recap: Market Gives Back Weekend Gains Amid US Bank Woes at Minyanville’ , Social
Security disability on verge of insolvency , 8-19-11 Welcome
To The New Bear Market For Stocks
Forbes / Suttmeier
, Dow/Gold
Ratio Lowest Since 1987 Crash Forbes /
Adrian Ash , Ignore
Buffett's Advice, Don't Buy Stocks Forbes
/ Dohmen , The
"Crimes" That Wrecked The Markets Forbes /
Lenzner , Tech
Leading Market Lower The Wall Street
Journal , Banks
closed in Fla, Ga, Ill; 2011 total is 68 , No
Recession Coming ... It's Already Here Previous:8-18-11 Stocks rally off lows to suck
suckers in and keep suckers sucked in on bad news (Jobless
Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says Crimes
Wrecked The Markets ), and
b***s*** alone! MKM
Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com, WHY NEW
LOWS ARE LIKELY 8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011
Gayed ‘A real bear market
has begun …’ ,
Abandon Ship?[The USS
Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,
There's
A Recession Coming According To The Data at Forbes , HP, Dell
hammered as tech-spending outlook darkens JDSU, NetApp, disappointing figures, shares hit hard in
after-hours trade Dell braces investors for a bumpy road Dell makes a case on
why it can better weather an upcoming storm
, S&P
says sell Google's shares after Motorola deal , STOCKS
FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know Joe Weisenthal , Stocks
Slip On Concern Over Europe's Debt, U.S. Data , Watch
Out: 2011 Looks A Lot Like The Market Top In 2007
Sean Hanlon Take
A Lesson From 2007 And Sell Stocks Now at
Forbes, [video]
Trader: We Could Test 1120 Lows at
TheStreet.com In
a Downtrend, Sell a Rally (Daily FX) Latest:
Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here. Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unemployment, 90% stock market drop, 100% inflation. See the Evidence
Oil
prices and Gaddafi’s potential fall? Any new Libyan government will need
crude revenues, but analysts warn against premature optimism. (Washington Post)
[ Premature optimism? How ‘bout total unreality owing to the over-printed, ever
more worthless so-called reserve currency, viz., the ‘dollar’. The ‘dow / gold’
ratio is illustrative of this reality-based problem which extends as well to
those heavily commissioned / traded paper shares. A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582 (8-22-11/now 10885).
Therefore, the index has gained 11% (8-22-11/now lost 10+%) in the last ten
years…’ Yet, the inflationary dollar (declining) debasement rate was 31%.
(-31%) {See the inflation calculator infra – and that’s just the government
(inflation) numbers … reality is much worse!} Meanwhile, the frauds on wall
street are churnin’ and earnin’ like never before at lightning computerized
speeds enabling the high-frequency trades that are commissioned in
unprecedented large volumes; a big net negative in real economic terms.] Just
another gimmick / diversion / obfuscation: The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Train
Reading: The Stock Market Is Insane
The Wall Street Journal , Accounting
Gimmics Resurface as Growth Flounders at
TheStreet ‘Rebekah Smith, director of financial advisory services at
accounting and consulting firm GBQ consulting, says accounting tricks and
schemes are likely to start unraveling as we head into 2012 and the lag effect
catches up. "The typical accounting fraud goes on for about 18 to 26
months before it is uncovered. The frauds that took place in 2009 are not going
to surface until later in 2011 or into 2012." ‘ ,
Morgan
Stanley Biggest Welfare Recipient as Federal Reserve Lent Banks $1.2 Trillion
During Financial Crisis Wall St.
Cheat Sheet , Minyanville's
T3 Daily Recap: Market Gives Back Weekend Gains Amid US Bank Woes at Minyanville’ , Social
Security disability on verge of insolvency While
Washington Fiddled The Economy Burned at
Forbes http://www.albertpeia.com/inflationcalculator.htm http://www.albertpeia.com/wobamavoters.gif
Ahamed:
What is the market really telling us? (Washington Post) [ Whatever it is, it ain’t
good! Indeed, ‘the market’ in terms of communicating anything must fall within
the ambit of the term ‘brain-damaged’ at best, insane at worst, with all the
concomitant disabilities attendant thereto, including a penchant for criminal,
fraudulent activities to obfuscate in self-interested fashion the damage
attendant to their criminally insane, brain-damaged condition for their own
gain to almost everyone else’s detriment.
‘THE STOCK MARKET HAS LOST ITS MIND — Bethany McLean in Slate Risk On! Do
the Fed, computer trading, and a few hedge funds rule the market? That might
explain why it's lost its mind. After the madness of last week and the
rollercoaster at the beginning of this week, the stock market recovered from
its Aug. 10 rout to bounce 423 points on Aug. 11. It was the fourth day in a
row in which the index moved by more than 400 points, which has never happened
before in history. As I write this, stock prices are leveling off, but the big
swings may not be over. Has the market gone mad? Actually, yes....’
Dow
jumps 4 percent as markets rebound A volatile day on Wall Street ends with
a last-minute rally that pared some of Monday’s historic losses and shrugged
off an uncertain outlook from the Fed.
(Washington Post) [ ‘Shrugged off’? So that’s what those lightning fast
computer manipulated buy programs are for. Who woulda’ thunk it? After all,
it’s not as if ‘Atlas Shrugged’ in this decimated, collapsing economy of this
pervasively corrupt, defacto bankrupt american nation / economy. Oh pshaw …
that was just fiction; ask former ‘objectivist’ Ayn Rand afficionado ‘senile
alan greenspun’ who recommends gettin’ those Weimar dollar printing presses
rollin’ at warp speed which has in large part helped to get the nation rollin’
to this forlorn point. Well, ‘senile alan greenspun’ can always say he was
really meant to be that ‘cobol programmer’ that he was and was meant to
be. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! What changed from yesterday
which warranted a more than 600 point plunge with paper stocks still
over-valued and a 545 bounce off of afternoon lows? Nothing! Absolutely
nothing, yet a manipulated computer-programmed churn-and-earn suckers’ rally
based on fraud and b***s*** alone to keep suckers suckered, which makes for an
especially great opportunity to sell / take profits since there’s much, much
worse to come! Famed economist predicts economic calamity in 2012. See the
evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com)
AAII
Sentiment Survey: Investors Remain Averse to Stocks Wall St. Cheat Sheet
Not all
insider buying is created equal — Reformed Broker
Is there
enough money to save the world’s banks? — Jonathan Weil at Bloomberg
Warren Buffett
is issuing bonds and buying stocks — Fortune
US births
declined in 2010 — Calculated Risk
Efficient
markets in action — Paul Krugman
Consumers now
need Treasury approval on all purchases over $50 — The Onion
Report:
Mutual Fund Outflows In July Most Since End Of 2008 at Barrons.com
Is debt downgrade an alarm bell for U.S.? (Washington Post) [ Do bears s*** in the woods? Is the Pope Catholic? Is this question some kind of a joke? I mean, duh! Ya think? I mean, if it isn’t, what could be? After all, this was long in the making and the pressures applied to preclude this long overdue downgrade were substantial. Yet, this mild slap on the wrist was at once, charitable and a gift inasmuch as reality warrants far worse. 8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse ‘… #8 The U.S. national debt continues to get worse by the day. Just check out what economics professor Laurence J. Kotlikoff recently told NPR….“If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap” ..’ Previous: Is this some parallel universe where unfounded criticism is levied at S&P for the downgrade when they’ve actually cut the pervasively corrupt, defacto bankrupt disunited states a break by not rating what america truly is; viz., junk status for the paper / liabilities / obligations that cannot and will not be paid (or the equivalent vis-à-vis what would be in worse than evermore worthless Weimar dollars or some other ‘ponzi-like’ subterfuge, obfuscation). The amounts are insurmountable going forward. They point to Moody’s and Fitch; yet, let’s not kid ourselves, S&P is the ‘800 pound gorilla’ in this world among rating agencies and moody’s, fitch have substantially diminished themselves as entities consistent with their ‘mission and purpose’ and as well, their credibility. I mean, come on! Consider the pressure that was and continues to be applied. Moody’s and fitch, quite frankly, folded. China’s rating agency has already downgraded u.s. paper and they’re ‘holding’ (huge amounts of that u.s. junk); and hence, against their own interest. Wake up!
Stock
markets rally on jobs report In
fourth day of wild swings, markets surge amid mixed signals about direction of
U.S. economy. (Washington Post) [ The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! This an especially great
opportunity to sell / take profits, particularly if you missed Tuesday or May,
since there’s much, much worse to come! Thursday, Aug.11, 2011: what
changed from yesterday which warranted a more than 500 point plunge with paper
stocks still over-valued? Well, some bad news labeled as better than expected
1) 7,000 fewer jobless claims than expected (just a little over 1% better even
if you believe them – I don’t) 2) Cisco shows results ‘better than expected’ 3)
Record monthly trade deficit [ What
Recovery? Forbes ‘we
can’t call this a recovery. There’s no reason to celebrate when a job report
was better than expected. Why? Because the expectation was abysmal to begin
with.’ ‘Cisco Systems Inc’s quarterly results edged past Wall Street’s scaled-back
expectations ...“They beat a low bar. A lot of it is coming from cost
cutting, which we anticipated. In that sense it’s a relief,” Joanna Makris of
Mizuho Securities USA told Reuters. ‘Cisco, which depends on government
spending for about a fifth of its revenue, said in July it would cut 15 percent of its workforce and sell
a set-top box factory in Mexico.. Cisco bulls may
underestimate tough road ahead Randewich.’ ]
World
Bank warns against future economic hardship Press TV | Zoellick pointed out that the world is now
involved in redesigning the international financial system.
The
World’s Money Is Draining Away … Where’s It Going?
Both
Consumer Confidence And The Labor Participation Rate Are At A 30 Year Low …
That’s Not A Coincidence Washington’s Blog | A new poll from Thomson
Reuters and University of Michigan shows that consumer confidence is the lowest
its been for 30 years.
{scroll down to current
date – today’s numerical day and headlines follows headlines of continuing
importance}
Legendary
Investor Jeremy Grantham: America is a Banana Republic
Poll: Obama
Approval Hits Lowest Ever Rasmussen
| Only 19% of the nation’s voters Strongly Approve of Obama’s performance as
president.
GALLUP:
Americans satisfied with ‘the way things are going’ — 11%!
Obama’s ratings sink to new
lows - Public
pessimism about the direction of the country has jumped to its highest level in
nearly three years, erasing the sense of hope that followed President Obama’s
inauguration and pushing his approv...
CIA, MI6
and Mossad: Together against Syria RT | The West is doing its best to destabilize the
situation in
Russia Warns US, Israel against Attack on Iran Fars News Agency | Russian Foreign Minister Sergei Lavrov warned the US and Israel against an attack on Iran, cautioning that such a move would mean “a very serious mistake”.
Repeal
of sodomy, bestiality ban sparks fight on Defense bill The Hill | New Defense Authorization Bill repeals a ban on
sodomy and bestiality [ This country is so f***ed up! The decline and fall!
NEW HEADLINES
Low IQ & Conservative Beliefs Linked to Prejudice [ I disagree with this speciously reasoned
article. First, all races are prejudiced (I believe there to be and data
supports evolutionary underpinnings to this pervasive trait - beyond the scope
of this comment). Second, careful scrutiny of real, unfiltered data, coupled
with command and knowledge of statistics and probabilities lead ineluctably to
certain conclusions/outcomes that political correctness would love to ignore to
the ‘innocent’ populace’s detriment and peril. Third, a study emanating from
Gen.
Dempsey: Iran rational actor, not after nukes Press TV | General described any
Israeli attack on
Pat
Buchanan: 300 nukes in Israel yet Iran a threat? RT | Islamic wars have brought questionable benefit to the US over
the last 20 years, former US presidential advisor Pat Buchanan, author of
Suicide of a Superpower, shared with RT. http://albertpeia.com/16reasonswhyonlyfoolssupportswaragainstIran.htm
Would You Support a War Against
5 Reasons
Iran is NOT a Threat to the U.S. Michael
Edwards |
USA
#1? 40 Embarrassing Things That America Is The Best In The World At http://albertpeia.com/40badthingsusa#1.htm
http://www.albertpeia.com/whitesvictimizedbyblacks.htm
Prisonplanet.com | Alex runs
down Sarkozy’s call to lock up people who dare surf “extremist” websites on the
web.
[ Little nicky is so pathetic and a testament to how
far
People have become weary of making
up excuses for blacks (like obama, holder, etc.). At some point, as now, people
should not be timid about relating the cold, unvarnished truth statistically /
factually about blacks and, ie., black
on white violent crime, etc..
From Pat Buchanan: As for
racism, its ugliest manifestation is in interracial crime, and especially
interracial crimes of violence. Is Barack Obama aware that while white
criminals choose black victims 3 percent of the time, black criminals choose
white victims 45 percent of the time? Is Barack aware that black-on-white rapes
are 100 times more common than the reverse, that black-on-white robberies were
139 times as common in the first three years of this decade as the reverse? We
have all heard ad nauseam from the Rev. Al about Tawana Brawley, the Duke rape
case and
http://albertpeia.com/blackonwhitecrime.htm
http://www.albertpeia.com/whitesvictimizedbyblacks.htm
The reality is that blacks are an
insoluble problem wherever they are. That’s not going to ever change; not
make-shift/make-work jobs; not programs; not anything tried or to be tried;
hence, they must be treated as exactly that – problems – before a solution can
be derived and fashioned. ]
http://abclocal.go.com/kabc/story?section=news/local/los_angeles&id=8594147
http://albertpeia.com/typicalblackmanonneighborhoodwatch.htm
‘Timothy Johnson, 24, is shown in this 2007 mugshot provided by the
The suspect was identified as
24-year-old Timothy Johnson, described as being 6 feet 2 inches tall, weighing
about 170 pounds with a dark complexion (negro-black) and a closely shaved
head.
Detectives say Johnson reportedly
entered eChaps Computers and More at 2007 W. Avenue K on Friday, shot and
killed store owner Reed Lewis Keith and left with stolen electronics in hand.
Johnson reportedly fled in a black,
1980s model four-door car driven by an accomplice. Investigators said Johnson
was wearing a black hooded sweatshirt and a ski mask at the time of the
robbery…’
3-27-12
http://endoftheamericandream.com
http://kidsterrorizedbyterrordrills.htm
All over the
It is also important to keep in mind that much of the
time these drills are not the fault of local school administrators.
Often, these drills are being mandated at the state level. Our
politicians have become obsessed with "school safety" in recent
years, and apparently their idea of "school safety" involves deeply
traumatizing our kids.
Earlier today I was doing some research and I came
across a forum where a parent was describing a relocation drill that would soon
be happening at a school in Oklahoma. Well, I went to
public schools all my life and nothing like this ever happened when I was
growing up, so I wanted to do a little digging to see if this was actually
happening around the country or if it was just an Internet rumor.
Unfortunately, what I found out was quite disturbing.
It turns out that "relocation drills" are
being conducted at schools from coast to coast.
For example, the following is an excerpt from a
letter to parents about a relocation drill that took place in Woodhaven, Michigan....
Our school district continues to focus on the safety
of staff, students, and our community. We have a detailed emergency plan so we
can respond effectively to major catastrophes. We work closely with the fire
and police departments from the City of
The Woodhaven and
But just putting kids on buses and taking them to
other schools was not enough. During the drill, some students and school
staff were instructed to pretend to be injured. In addition, parents were
instructed not to call the school during the drill and children were instructed
not to call their parents....
As part of the drill, we will pretend that some
students and staff are injured. Pretend victims will be assessed and
transported to nearby triage centers. Please be aware that
• Please do not telephone the school. Telephone lines
are needed for drill emergency communications.
• Impress upon your children the need to
follow directions and take drills seriously.
• During an evacuation drill or a real
emergency, students will be kept at their school or will be evacuated to
another site. They will be released only to adults listed on their emergency
contact form. Any adult picking up a student (reunification) will be required
to show picture identification.
• Students and parents should not
communicate by cell phones during the drill or emergency situation. Students
need to be attentive to the instructions from school and safety personnel.
But at least in that drill parents knew where their
children would be taken.
That was not the case during a recent relocation
drill in Coeur d'Alene, Idaho....
Students at
Their Bus Evacuation Drill started at 9 a.m. and
students were transferred to their undisclosed emergency location and returned
back to school.
“As you might expect, student safety is our first
priority and security is tight even during a practice,” Karyn Stockdale,
district clerk, said.
It was later revealed they were bussed to
It was "later revealed" where the
"undisclosed emergency location" was?
I am sure a whole bunch of parents were thrilled when
they heard about that.
What purpose is served by herding kids on to a bus
and taking them to an undisclosed location?
School officials just seem to take these little
"exercises" way too seriously.
For example, check out the tone in the following
excerpt from a school newsletter from one school in Pennsylvania....
"As mentioned in a separate letter in our CB
Electronic Envelope last Wednesday, our school will be involved in an Off-Site
Relocation Drill. This practice opportunity will sharpen our skills and
provide us with the chance to review important safety procedures in the event
of an emergency. This Relocation Drill is scheduled for Friday, December 16,
2011. Here are some very important reminders for all parents and families:
SAFETY IS OUR TOP PRIORITY!!!!!!
In every classroom, teachers will prepare students
for this activity. To ensure that every child and adult arrives safely to the
relocation site, no child will be released for any reason during this practice
activity or real emergency. All parents are asked to review the detailed letter
explaining the official steps for such drills and practice activities."
No child will be released for any reason?
What if there is a family emergency?
What if a child becomes very ill?
Our schools are becoming way too militarized.
It really is quite frightening to see what is happening to us.
It takes a lot of effort to pack up all of the
students and all of the staff at a school and ship them off to an alternate
location.
The following is another example from one school in Iowa....
The second drill is planned for Thursday at 9:15 a.m.
During the second drill officials will simulate a relocation of the entire
EE-12 student body and staff by school buses.
For some schools, this kind of a drill has now become
a regularly scheduled yearly activity.
The following is from a school handbook in Vermont....
Lockdown drills are practiced several times a year.
In a Lockdown students remain quiet and undetectable behind a locked door.
Students prepare for these drills and are supported by their teachers. Saint
Albans City School practices, at least once a year, an emergency
evacuation/relocation drill where we leave the school building and go to
alternate sites.
Keep in mind that it says "at least once a
year". That means that it could happen even more frequently if they
want it to.
Some schools even have plans for students to be
"housed temporarily" at alternative locations. The following is
from a school website in California....
Evacuation
Plan: Requires that all building occupants leave and go to
an alternate location. Evacuation may mean only going outside and away from the
building until an all-clear signal is given. In some circumstances, students
and staff may need to be transported and housed temporarily in another location
until the Go-Home Plan can be put into operation.
In some instances, parents are encouraged not to pick
their children up at all in the event of a major emergency. The following
is from an article in the Washington Post....
School administrators in the
So what measures would be taken to keep parents from
getting to their children?
That is a frightening thing to think about.
But these "relocation drills" are not the
only kind of drills that parents need to be aware of.
In many areas of the country, schools are holding
"active shooter" drills where men in full military gear are pointing
guns at children and firing blank rounds.
The following is one recent example that happened in Brecksville, Ohio....
The emergency drill at
Junior Ashley Elek said Chardon High School was on
their minds as they went through the very realistic looking drill, in which
many students were "killed" and "wounded."
In many areas of the country, there is not always
advance notice of these "active shooter" drills. Sometimes
students are told that there will be an "active shooter" drill and
sometimes they are not.
Sometimes teachers do not even know that an
"active shooter" drill is coming. When that happens, the
results can be incredibly traumatic.
Just check out the following example from New Jersey....
About 50 teachers at a
It happened Aug. 28 at the
A man burst into the library and started shooting.
But the gun didn’t have any bullets, just blanks.
Teachers took cover under child-sized tables, crying
and trembling.
“People are crying. The girl next to me is trembling
and shaking. You heard people crying. You heard other people praying. It was
pretty dramatic,” one teacher said.
Can you imagine?
Why would we ever want to put our children through
that?
I think that some of these twisted sickos actually
enjoy the thought of making little kids pee their pants.
In some cases, children are told during these
"exercises" that a particular group of Americans is attacking the
school.
For example, during a terror drill at a public school
in Muskegon County,
Michigan, students and teachers were told that "homeschoolers"
were the ones attacking them....
"The exercise will simulate an attack by a
fictitious radical group called Wackos Against Schools and Education who
believe everyone should be homeschooled. Under the scenario, a bomb is placed
on the bus and is detonated while the bus is traveling on
In another case in New Jersey, students were told
that the gunmen were from a group of "fundamentalist Christians"
called "The New Crusaders"....
"Investigators described them as members of a
right-wing fundamentalist group called the 'New Crusaders' who don't believe in
separation of church and state. The mock gunmen went to the school seeking
justice because the daughter of one had been expelled for praying before
class."
What possible purpose do drills like those have?
Sadly, those running things keep wanting to make
these kinds of drills as frequent as possible.
In
As you can see from this document, an
"evacuation to relocation site" drill is one of the kinds of drills
that can be chosen to satisfy this requirement in
The following are examples of other security drills
that schools can hold:
• Shelter-in-place; Reverse evacuation; Evacuation to
relocation site; Testing of school’s notification system and procedures;
Testing of school’s communication system and procedures; Tabletop exercise; and
Full scale exercise.
When I was growing up, there was just one kind of
emergency exercise. When the fire alarm sounded, we all trudged out to
the football field. We stood around and talked for a few minutes and then
we went back inside.
But the environment in
These drills are just another reason why many parents
have decided that it is time to pull their kids out of the government schools entirely.
Our public schools more closely resemble prison camps than they do institutions of
learning. Millions of our kids are leaving high school dumb as a rock, but they do know what to do when the
alarm goes off.
So what do you think about these drills? Please
feel free to post a comment with your opinion below....
***Epilogue***
The following is video of a relocation drill in
**************
Paul Joseph Watson | EPA will
enforce disastrous measures by dictatorial fiat.
Prison Planet.com |
Infowars.com and Prisonplanet.tv proudly presents Alex Jones’ sit down
interview with Billy Corgan, founder of the rock band, “The Smashing Pumpkins”.
Steve Watson |
Congressman hits out at more calls for him to quit GOP race.
Reuters and Haaretz | Syria
state television shows video of president walking through defeated rebel
stronghold; no further details available in report on alleged assassination
attempt.
Reuters | Sarkozy urges television networks not
to show the footage of three deadly shootings in southern
Steve Watson | Lawmakers
slam agency for treating Americans like “prisoners” and “cattle”.
Paul Joseph Watson |
Disrespecting a police officer is now a crime.
Prisonplanet.com | Several
trolls have complained that Alex’s efforts to eliminate the pests from his yard
is a crime worthy of the highest form of punishment.
Prisonplanet.com | Alex
talks with author and journalist Webster Tarpley. He is the author of Obama:
The Postmodern Coup – Making of a Manchurian Candidate and other titles.
Kurt Nimmo | Here’s a
cause for Angelina Jolie – the Syrian opposition’s child soldiers.
Kurt Nimmo |
Newspaper claims French intelligence helped Merah enter
Paul Joseph Watson | EPA will
enforce disastrous measures by dictatorial fiat.
Jurriaan Maessen | Holdren
believes government should be the entity enforcing population policies.
Infowars.com | Corgan,
founder of the rock band The Smashing Pumpkins, covers a number of issues in
this wide ranging interview.
Steve Watson |
Congressman hits out at more calls for him to quit GOP race.
Kurt Nimmo | Like the
Nazi film propagandist Riefenstahl, Jolie serves global fascism.
Paul Joseph Watson | Despite
proven track record of official deception over disaster.
Kurt Nimmo | French
citizens visiting “extremist” websites would be treated same as those who look
at child pornography.
[ Little nicky is so pathetic and a testament
to how far
Drudgereport:
Obama gets
personal over killing of black Florida teenager...
Urges
'soul-searching'...
More Miami
schools stage mass walk-outs...
Gingrich
calls Obama's Trayvon comments 'disgraceful'...
Cops: Man
threatened to kill police chief at center of case...
Jeb Bush:
'Stand your ground' invalid here...
Miami Heat
Players Don Hoodies...
'Dead or
Alive' Poster Issued by New Black Panther Party... [ ‘Minority
Report’ Division of Pre-Crime, Pre-Cogs say, ‘Dead or Alive – all niggers’ …
whatever the outcome in the investigative process, the stark reality is that at
least, unlike the niggers committing many more ‘black on white’ violent
crimes, Zimmerman (and this is no
endorsement – I won’t be looking at this one incident all that closely) was at
least trying to do a good thing made necessary by the ever increasing number of
brutal crimes committed by the black thugs in neighborhoods across the nation;
then there’s somalian pirates, etc.. People domestically and internationally
are suffering from nigger-fatigue and are totally niggered out. Oh, yeah, there
are some
'BLACK
NIGGERS [ NOT WHITES BY NIGGERS THE IMPLICATION DESPITE FACTUAL DATA TO THE
CONTRARY ] ARE UNDER ATTACK [ SAYS
NIGGER SHAKEDOWN ARTIST JACKSON] ' [ Hold on one cotton-pickin’
minute jesse, that’s not what the facts say Obama: ‘If I had a son, he’d look like Trayvon.’ [ Yeah! He’d
look just like any other nigger. And, don’t worry about the black vote, failed
president wobama the b for b***s*** will get nearly if not all, 100% of the
nigger vote! Drudgereport: Farrakhan
Threatens 'Retaliation'… [ Retaliation? Can you imagine the number of blacks
that would have to be retaliated against based upon the hushed reality of the
prevalence of black on white crime? The blacks should be careful what they wish
for in playing that game because the facts don’t break in their favor. ] ...
People have become weary of making
up excuses for blacks (like obama, holder, etc.). At some point, as now, people
should not be timid about relating the cold, unvarnished truth statistically /
factually about blacks and, ie., black
on white violent crime, etc..
From Pat Buchanan: As for
racism, its ugliest manifestation is in interracial crime, and especially
interracial crimes of violence. Is Barack Obama aware that while white
criminals choose black victims 3 percent of the time, black criminals choose
white victims 45 percent of the time? Is Barack aware that black-on-white rapes
are 100 times more common than the reverse, that black-on-white robberies were
139 times as common in the first three years of this decade as the reverse? We
have all heard ad nauseam from the Rev. Al about Tawana Brawley, the Duke rape
case and
http://www.albertpeia.com/whitesvictimizedbyblacks.htm
The reality is that blacks are an insoluble
problem wherever they are. That’s not going to ever change; not
make-shift/make-work jobs; not programs; not anything tried or to be tried;
hence, they must be treated as exactly that – problems – before a solution can
be derived and fashioned. ] [ Send the
niggers, including niggerbama back to sub-saharan
EUROPE
RIDICULES OBAMA...
'Maybe
copy key got stuck on presidential speechwriter's keyboard'...
REPORT:
Corzine Ordered $200M Moved to JPMORGAN Days Before MF GLOBAL Collapse...
...memo
contradicts Corzine testimony
LATEST
DOCUMENT DUMP: White House was all-hands-on-deck as SOLYNDRA collapse neared...
APPLE Flash
Crash: Single Trade Causes 9% Plunge...
APNewsBreak:
Marine critical of Obama faces charge [ This one
caught my eye. While it is true that good soldiering requires absolute
discipline by definition, oaths should be taken seriously, honored, and given
effect. That said, burning Qurans was the product I assume of orders reflecting
even more than just stupidity; hence, whoever gave the order should pay the piper. If no order, and stupidity as
with urinating on the bodies of the dead, can and should the actors be held
accountable for such gross stupidity? Absolutely! However, one must be mindful
of the reality that marines invariably have ‘skin in the game’ when it comes to
consequences of commanders in chief incompetence, unlawful acts, poor judgment
particularly as impacted by questionable mental states (arbitrarily taking the
last three presidents as illustrative, viz., clinton, bush, obama certainly
reflect this reality and concern coupled with the unnecessary murderous results
of their actions). There has been a longstanding rebuke of the ‘just following
orders’ defense accorded soldiers since particularly the nazi regime as an
example. As such, Stein certainly should be lauded for saying what all soldiers
should already know; namely, the unlawful detention of americans, among other
constitutionally barred activities should not be among those orders they are
willing to follow. The proscriptions of posse comitatus should also serve as a
guide. This is particularly important given the fragile mental state of
americans generally, and
Paul Joseph Watson | Media
Matters is a White House front group. [ Though a frequent critic of neo-con
Limbaugh, I’m against any and all attempts, particularly by desperate wobama et
als to shut him down based on what he’s said. ]
The Cyber Intelligence Sharing and Protection Act of
2011, introduced by Rep. Mike Rogers and Rep. Dutch Ruppersberger, allows
companies or the government free rein to bypass existing laws in order to
monitor communications, filter content, or potentially even shut down access to
online services for "cybersecurity purposes." Companies are
encouraged to share data with the government and with one another, and the
government can share data in return. The idea is to facilitate detection of and
defense against a serious cyber threat, but the language is so broad it could
be used as a blunt instrument to attack websites like The
EFF has previously reported on two instances of
pro-Syrian-government malware targeting Syrian activists through links sent in
chats and emails. Now we've seen new Windows malware dropped by a fake YouTube
site hosting Syrian opposition videos. The fake YouTube page attacks users in
two ways: it requires you to enter your YouTube login credentials in order to
leave comments, and it installs malware disguised as an Adobe Flash Player
update.
Last week was Sunshine Week, a national celebration
of open government and freedom of information. In years past, the Obama
administration has been taken to task for reversing early promises on
transparency. Has it improved?
So what exactly are all these people so concerned
about? Exactly why are there millions of Americans that are feverishly
preparing for doomsday?
Well, the truth is that you will never find two
preppers that are exactly alike. Some are deeply concerned about the
potential for natural disasters and believe that we are now entering into a
time when there will be catastrophic earth changes. Other preppers
believe that terrorism is the most significant threat to our way of life.
Killer pandemics, an EMP attack, World War III, martial law,
solar megastorms, asteroid strikes and societal chaos are some of the other
things that some preppers are worried about.
Of course an economic
collapse is one of the biggest concerns for preppers, and without a doubt
the U.S. economy is deeply troubled. A collapse of the financial
system would change all of our lives permanently.
But it isn't just preppers that are concerned about
these things.
A recent survey conducted by National Geographic
asked Americans the following question....
"Which of the following, if any, do you think
might happen in the United States in the next 25 years? Please choose all that
apply."
These were the results....
Significant Earthquake 64%
Significant Hurricane 63%
Terrorist Attack 55%
Financial Collapse 51%
Significant Blackout 37%
Pandemic, Such as From a Super-Virus 29%
Nuclear Fallout 14%
None of These 13%
Obviously there are a whole lot of people out there
that feel as though we are heading for some really bad stuff.
So if hard times are coming, why not prepare for
them?
After all, none of us want to end up like the poor
people of New Orleans in the aftermath of Hurricane Katrina. Large
numbers of people were herded into the Superdome and food and water ran out
really fast. There was rampant looting of stores and people were shooting
each other in the streets. It was mass chaos.
The following is what one Australian
blogger experienced while staying in the Superdome during Hurricane
Katrina....
Last night was horrendous. I heard shouting, and
drinks machines being smashed. There’s no sanitation and it’s so smelly. My
hair is greasy and I feel a wreck. There are crack alleys among the maze of
corridors. The lights are broken in the loos which, as well as being
disgusting, have become dangerous, so we now only go as a big group.
More people are arriving, and the dome is like a
refugee camp. I see two soldiers carrying a corpse and we hear there are more
dead in the basement.
As an article in the New York Times from
that time period detailed, food and water were in very short supply and those
cramped into the Superdome were rapidly becoming impatient....
Desperation was in the air. Danielle Shelby tugged at
a reporter's arm. "I have a handicapped daughter," she said.
"She's over there with her wheelchair. She's hot. We don't have any water.
I'm afraid she's going to have a seizure."
Others crowded around. "I've been in the food
line twice, and every time I get to the front they tell me they don't have any
left," said Juanita McFerrin, 80.
Later on in that same article, we are told that there
were fights, rapes and at least one suicide in the Superdome during that
time....
It got worse. Ms. Rousell recalled hearing a loud
bang Tuesday afternoon as the body of a man slapped the concrete at the edge of
the football field in a fatal suicidal plunge, after he apparently learned that
his home had been destroyed. Others told of fights that broke out in food
lines, and of a husband and wife who slugged each other in a wild argument.
Several residents said they had heard of children
being raped, though it was not clear whether anyone reported such incidents to
the authorities, and no officials could be found who could confirm the
accounts.
To get an even better idea of what life in New Orleans
was like in the aftermath of Hurricane Katrina, just check out this video.
Within just a few days food, water and supplies
started pouring into New Orleans and things started slowly getting back to
normal, but imagine what things would look like in this country if we had to
deal with a national disaster that stretched on for months or even years?
Many preppers are not taking any chances. Many
are absolutely determined to be able to take care of their families and friends
no matter what the years ahead may bring.
ABC News recently profiled one prepper named Tim Ralston....
Tim Ralston, a married father of two from Arizona, is
one such "prepper."
"There's a lot of different things that could
happen," Ralston said. "For me, I look at prepping as kind of like
insurance. You have car insurance, health insurance, life insurance."
Call it Apocalypse insurance. Ralston turned his
family's two-car garage into a staging area. Inside is a trailer, which he
keeps packed and ready to go at all times, stockpiles of freeze-dried food,
including cartons of canned chicken with a shelf life of 15 years, survival
gear, such as a system for purifying polluted water, first aid kits and lots of
weapons and ammunition. His son has his own AK-47.
Some preppers are going to the extreme and are
spending huge amounts of money on their prepping.
CNN recently profiled one Australian prepper that has
spent about $350,000 preparing for
doomsday....
Bast has spent about $5,000 on stockpiles of food and
water, and $11,000 on equipment including gas cookers, generators, batteries,
water purifiers and solar power. He also purchased roughly an acre of land
that's a 75-minute drive from Melbourne and 1,500 feet above sea level (in
order to stay high and dry in case of a flood or tsunami). He has built a house
there, as well as a bunker to serve as his "safe spot" in the event
of an emergency. Together, the land, buildings and bunker have cost him a total
of about $330,000.
He's also spent $10,000 on an 8-year old Toyota HiLux
pickup truck to drive to his safe spot.
But the truth is that prepping does not have to be
expensive.
The key is to start by focusing on the five basics....
·
Food
·
Water
·
Shelter
·
Energy
·
Self-Defense
There are some practical things that just about
anyone can do even if you don't have a lot of money.
For example, when you go to the store try to pick up
a few extra items that are on sale and add them to your supplies. If you
rotate your food supplies, they won't go bad.
In addition, just about anyone can plant a
garden. Often fruits and vegetables are some of the most expensive items
at the grocery store, and so growing a garden can end up saving you a lot of
money.
Get educated. There are dozens of prepper
websites out there where you can get an education in prepping for free.
The following are a few examples of some of the excellent prepper websites that
are out there today....
The truth is that our world is becoming increasingly
unstable in a whole bunch of different ways and we all need to learn how to prepare for the difficult years ahead.
As the economy continues to fall apart, America is going to become a very heartless place. You don't want to be caught
in the middle of societal chaos without a plan.
None of us should be relying on the government to
save us when things hit the fan. We all saw what happened after Hurricane
Katrina. Those that were depending on the government were deeply
disappointed.
We should all try to become as independent of the
system as we can, because the system is failing. In the years ahead there
might not be anybody to help you and your family, so you need to be working
hard right now to ensure that you and your family will be taken care of.
Yes, as you may have guessed by now, I am a prepper
too. My wife and I moved to an entirely different state and totally
changed our lifestyle to prepare for what is coming.
Hopefully this article will inspire many more
Americans to prepare for what is coming. A great economic collapse is on
the horizon and time is rapidly running out.’
With that being said, the following are 40
embarrassing things that America is the best in the world at....
#1 America
has the highest
incarceration rate and the largest total prison population in
the entire world by a good margin.
#2 There are
more car thefts in the United States than anywhere else in the world by far.
#3 Of all the
major industrialized nations, America is the most obese. Mexico is #2.
#4 The
average American drinks more than 600 sodas a year -
the most in the world.
#5 U.S.
corporations sell more fast food and more soda than anyone else in the world by a wide margin.
#6 Nobody
watches more television per week (28 hours) than Americans do.
Although to be honest, people living in the UK are tied with us.
#7 The United
States leads the world in credit card fraud.
#8 The United
States has the highest percentage of one person households on the
entire planet.
#9 The United
States has the highest divorce rate in the world by a good
margin.
#10 The United
States has the highest teen pregnancy rate in the
world by far.
#11 There are
more school shootings in America than
anywhere else in the world.
#12 The United
States has the highest child abuse death rate in
the world.
#13 There are
more "deaths by reptile" in
America than anywhere else in the world.
#14 The United
States has the most lawyers per capita in the entire
world.
#15 The United
States produces more pornography than any other
nation in the world.
#16 Americans
take more prescription drugs than anyone else in the
world.
#17 More is
spent on prescription drug advertising in
America than anywhere else in the world.
#18 The
percentage of women taking antidepressants in America is higher than in any other country in
the world.
#19 More
people have been diagnosed with mental disorders in America than
anywhere else on earth.
#20 The United
States has the highest rate of illegal drug use on the
entire globe.
#21 There is
more credit card debt in America than
anywhere else in the world.
#22 There is
more mortgage debt in America than
anywhere else in the world.
#23 There is
more student loan debt in America than
anywhere else in the world.
#24 The United
States spends more money on government schools than any other nation on
earth does.
#25 U.S.
citizens spend more time in school than anyone else in the world. So why
are so many of us dumb as a rock?
#26 Nobody in
the world gets more plastic surgery done than Americans
do.
#27 The United
States leads the world in eating disorder deaths.
#28 According to nationmaster.com, the United
States has the most total reported crimes in the world by far.
#29 Nobody has
more airport security thugs groping women and children
than America does.
#30 The United
States spends much more on health care as a percentage of GDP than
any other nation on the face of the earth.
#31 The United
States has the most complicated
tax system on the entire planet.
#32 The United
States has the most laws on the entire planet.
#33 The United
States spends more on the military than the next 12 nations
combined, and yet the Obama administration is considering plans to
unilaterally slash the size of the U.S. nuclear arsenal by up to 80 percent.
#34 The United
States has the most foreign military bases in the world by far.
#35 The United
States exports more arms to other
countries than anyone else in the world.
#36 Americans
spend more time sitting in traffic than anyone
else in the world.
#37 Americans
spend more money on elections than anyone else does in the world by a
very wide margin.
#38 Every
single year, the United States has the largest
trade deficit in the world by far.
#39 The U.S.
government wastes more money than any other government on
earth does.
#40 The United
States has accumulated the biggest mountain of government debt in the history of the world.
So is the USA #1?
Unfortunately, the answer way too often is yes.
The goal of this list of embarrassing things is not
to trash America.
Rather, the goal is to wake Americans up and to get
them to realize what has happened to us.
We should be deeply humbled and embarrassed as a
nation. We were once the best in the world and the envy of the entire
globe, but now the whole world is laughing at us.
America is supposed to be a beacon of liberty,
freedom and prosperity for the entire planet.
Instead, we are rapidly turning into a horror show.
Wake up America. The condition of our country
is absolutely shameful, and every single day it gets even worse.
Please share this list with as many people as you
can. The American people need a massive wake up call, and it is up to
those of us that are awake to share the truth while we still can.’
‘Have you ever known someone that loves
death? When someone truly is in love with death, it can take that person
to a very dark place. Unfortunately, there are a growing number of
scientists, politicians and global opinion makers that believe that we must
reduce the size of the human population for the good of the planet. They
are convinced that humanity is causing global warming, killing off other
species and making this planet unlivable. In their quest to save the
future of the planet, they are becoming bolder and bolder with their calls for
population control. They love death because they believe that it will
help save the earth. They figure that with less humans around, there will
be less carbon emissions, less pollution and more room for other species.
So how will this be achieved? Well, as you will read about in the rest of
this article, "after-birth abortions", "mobile euthanasia
teams", "sperm-destroying ultrasound technology" and putting
contraceptives in the tap water are just some of the ways that are being
proposed to reduce current human numbers. This hatred of life and love of
death is being taught in colleges and universities all over the western world,
and this population control philosophy is becoming increasingly dominant with
each passing year.
I realize that the idea of "mobile euthanasia
teams" may sound like something out of a science fiction movie, but the
truth is that this is not just a "pie in the sky" concept.
In fact, in the Netherlands six mobile euthanasia teams
are now going door-to-door to help elderly patients end their lives in the
comfort of their own homes.
The following description of this program comes from
a recent article in The Independent....
The project, which has provoked sharp criticism from
doctors, is the brainchild of the Dutch largely donor-funded Right to Die NL.
It follows the government's 2002 decision to legalise euthanasia, making the
Netherlands the first country in the world to do so. Walburg de Jong, a
spokeswoman for the organisation said that since the ruling some 3,100 assisted
suicides had been carried out annually. The mobile euthanasia teams, she said,
operated free of charge and were designed to make it easier for patients
enduring interminable suffering to end their lives.
Can you imagine your grandparents getting a visit
someday from a mobile euthanasia team?
But it is not just the elderly that are being
targeted for death.
Two scientists recently made headlines all over the
world when they released a paper calling for the legalization of ''after-birth abortion''.
Alberto Giubilini of Monash University in Melbourne,
Australia and Francesca Minerva of the University of Melbourne co-authored an
article in the Journal of Medical Ethics entitled "After-birth
abortion: why should the baby live?"
In their paper, they argue that a baby is just a
"potential person" and that "killing a newborn should be
permissible in all the cases where abortion is, including cases where the
newborn is not disabled."
Giubilini and Minerva argue that just because a baby
is human does not mean that it has any rights. The follow quote is from their paper....
"Merely being human is not in itself a reason
for ascribing someone a right to life. Indeed, many humans are not considered
subjects of a right to life: spare embryos where research on embryo stem cells
is permitted, fetuses where abortion is permitted, criminals where capital
punishment is legal"
Giubilini and Minerva also believe that the
"burden" placed on the family and on society by a new baby must be
given precedence when it comes to matters of live and death. The
following is another quote from their paper....
"To bring up such children might be an
unbearable burden on the family and on society as a whole…On these grounds, the
fact that a foetus has the potential to become a person who will have an (at
least) acceptable life is no reason for prohibiting abortion."
Giubilini and Minerva insist that "after-birth
abortions" would have a lot of advantages.
For example, approximately a third of all babies with
Down syndrome are not diagnosed in the womb. After-birth abortions would
take care of that "problem" by allowing mothers to
"terminate" those children after they have been born.
Other scientists aren't just concerned about giving
the elderly and new mothers more "choices". Many are now
advocating the implementation of strict global measures to reduce the human
population for the sake of the environment.
For example, Colorado State University Professor
Philip Cafaro recently released a paper entitled "Climate Ethics
and Population Policy". In that paper, Cafaro declared that
humans are committing "interspecies genocide" and that therefore it
is imperative to reduce our numbers....
"Scientists now speak of humanity’s increased
demands and impacts on the globe as ushering in a new geological epoch: the
Anthropocene. Such selfish and destructive appropriation of the resources of
the Earth can only be described as interspecies genocide."
For Cafaro, simply stopping the growth of the human
population on earth is not enough. He says that in order to prevent
"catastrophic global climate change" we are going to have to
"significantly" reduce the size of the global population....
"Ending human population growth is almost
certainly a necessary (but not sufficient) condition for preventing
catastrophic global climate change. Indeed, significantly reducing current
human numbers may be necessary in order to do so."
Unfortunately, a love of death is now widespread at
U.S. colleges and universities. For example, Professor of Biology at the
University of Texas at Austin Eric R. Pianka once wrote the following....
I do not bear any ill will toward people. However, I
am convinced that the world, including all humanity, WOULD clearly be much
better off without so many of us.
Population control is something that Bill Gates has
been putting a lot of funding into as well. The following example comes
from a recent Natural News article....
Mass vaccination is apparently not the only
depopulation strategy being employed by the Bill & Melinda Gates
Foundation, as new research funded by the organization has developed a way to
deliberately destroy sperm using ultrasound technology. BBC News reports that the
Gates Foundation awarded a grant to researchers from the University of North
Carolina (UNC) to develop this new method of contraception.
For their study, the UNC team tested ultrasound on
lab rats and found that two 15-minute doses "significantly reduced"
both sperm counts and sperm integrity. When administered two days apart through
warm salt water, ultrasound caused the rats' sperm counts to drop below ten
million sperm per milliliter, which is five million less than the
"sub-fertile" range, and stay that way for up to six months.
Sadly, it is not just a few scientists and opinion
makers that are obsessed with death and population control.
As I have written about previously, the United
Nations continues to push Agenda 21 on the entire globe. The following is how
the United Nations defines Agenda 21....
Agenda 21 is a comprehensive plan of action to be
taken globally, nationally and locally by organizations of the United Nations
System, Governments, and Major Groups in every area in which human impacts on
the environment.
The United Nations publishes report after report
calling for more "global governance" over the environment. The
following comes from a recent Fox News article....
The report, “21 Issues for the 21st Century,” from
the United Nations Environment Program (UNEP) Foresight Process, is the
culmination of a two-year deliberative process involving 22 core scientists. It
is expected to receive considerable attention in the run-up to the Rio+20
United Nations Conference on Sustainable Development, which will be held in
Rio, Brazil, in June.
The scientists who wrote the report say it focuses on
identifying emerging issues in the global environment, and that it is not about
mandating solutions.
But its critics see an agenda lurking in its 60
pages, which call for a complete overhaul of how the world's food and water are
created and distributed -- something the report says is “urgently needed” for
the human race to keep feeding and hydrating itself safely.
But it isn't just food and water that the United Nations wants control
over.
The truth is that the United Nations is absolutely
obsessed with the number of people living on the planet.
In a recent report entitled, "Resilient
People, Resilient Planet: A Future Worth Choosing" the UN warned about
our "unsustainable lifestyles" and of the disastrous impact of
population growth....
But what, then, is to be done if we are to make a
real difference for the world’s people and the planet? We must grasp the
dimensions of the challenge. We must recognize that the drivers of that
challenge include unsustainable lifestyles, production and consumption patterns
and the impact of population growth. As the global population grows from 7
billion to almost 9 billion by 2040, and the number of middle-class consumers
increases by 3 billion over the next 20 years, the demand for resources will
rise exponentially. By 2030, the world will need at least 50 percent more food,
45 percent more energy and 30 percent more water — all at a time when
environmental boundaries are throwing up new limits to supply. This is true not
least for climate change, which affects all aspects of human and planetary
health.
We are constantly being told these days that the problem
is that there are "too many people" and that if there are less people
things will be better.
Members of the U.S. government are even preaching
this philosophy.
Just the other day, Health and Human Services
Secretary Kathleen Sebelius was publicly proclaiming that the new requirement
that all health insurance plans cover sterilizations and contraceptives will be
good for employers and health insurance companies because it will mean less
births. She argued that the savings from less people being born will more
than make up for the expense of the sterilizations and the contraceptives.
Sebelius told Congress the following on Thursday....
"The reduction in the number of pregnancies
compensates for the cost of contraception"
Other members of the Obama administration are
preaching the population control gospel as well. U.S. Secretary of State
Hillary Clinton has even stated that population control will be a "centerpiece" of U.S. foreign policy
from now on.
We even find a love of death in the White
House. Barack Obama's top science advisor, John P. Holdren, once wrote the following....
"A program of sterilizing women after their
second or third child, despite the relatively greater difficulty of the
operation than vasectomy, might be easier to implement than trying to sterilize
men.
The development of a long-term sterilizing capsule
that could be implanted under the skin and removed when pregnancy is desired
opens additional possibilities for coercive fertility control. The capsule
could be implanted at puberty and might be removable, with official permission,
for a limited number of births."
That quote should send a chill up your bones.
In America today, life is considered to be cheap, and
that is especially true if you are "disabled" or
"defective" in any way.
At one U.S. hospital, a 3-year-old girl named Amelia
was recently denied a kidney transplant because she
is considered to be "mentally retarded".
How would you feel if that was your child?
Unfortunately, society continues to move away from
the idea that life is inherently valuable and deserves to be preserved.
In fact, many top global opinion makers are openly
calling for a dramatic reduction in human numbers.
CNN Founder Ted Turner once said the following....
"A total population of 250-300 million people, a
95% decline from present levels, would be ideal."
For many more shocking quotes about population
control from scientists, politicians and top global opinion makers, just check
out this article which I published previously.
The world is becoming a very heartless place.
Those at the top look down on the rest of us as if we
were vermin that need to be exterminated.
Increasingly, this sick population control agenda is
being preached at us in the mainstream media. For example, just check out
what the editorial page editor of The Detroit News says should
be done in Michigan....
Since the national attention is on birth control,
here's my idea: If we want to fight poverty, reduce violent crime and bring
down our embarrassing drop-out rate, we should swap contraceptives for fluoride
in Michigan's drinking water.
We've got a baby problem in Michigan. Too many babies
are born to immature parents who don't have the skills to raise them, too many
are delivered by poor women who can't afford them, and too many are fathered by
sorry layabouts who spread their seed like dandelions and then wander away from
the consequences.
Michigan's social problems and the huge costs
attached to them won't recede until we embrace reproductive responsibility.
He is seriously proposing to put contraceptives into
our drinking water?
How can people be so twisted?
Sadly, as I mentioned earlier, this philosophy is
being endlessly preached at thousands of colleges and universities all over the
world.
The sick adherents of this philosophy love death and
are obsessed with controlling the population of the earth.
They are just going to keep pushing their agenda
further and further and further.
They truly believe that they must reduce our numbers
in order to save the planet.
But in their zeal to "save the earth" they
may take all of us to a very, very dark place…’
EFF: In our 600th issue:
While
copyright owners claim that they need anti-circumvention laws to address
copyright infringement, twelve years' experience with the U.S. DMCA provisions
demonstrates that overbroad digital locks laws can wreak havoc on lawful,
non-infringing activities, stifle free speech and scientific research, and harm
innovation and competition. Small wonder that a broad range of groups in Canada
have come out against the unforgiving nature of Canada's C-11 Bill, including
librarians, content creators, rights advocates and others.
For
many years, EFF has been working to encrypt the Web, pushing websites to adopt
better security and providing users with tools to protect themselves. This month,
we're looking at online dating sites, which can be particularly negligent in
safeguarding the sensitive data of users. Our analysis found these sites failed
to implement even basic levels of security, but we were particularly concerned
about the negligent security practices we discovered on the free dating site
OkCupid. We've contacted the site and asked them to improve, but we could use
your help. Send OkCupid an email today asking them to implement HTTPS.
Using
data from EFF's SSL Observatory project, a team of researchers conducted an
audit of the public keys used to protect HTTPS. Lenstra's team has discovered
tens of thousands of keys that offer effectively no security due to weak random
number generation algorithms. The consequences of these vulnerabilities are
extremely serious.
Six Heartbreaking Truths about
Online Dating Privacy
Millions
of people are using online dating sites to search for love or connection, but
users should beware: many online dating sites are taking short cuts in
safeguarding the privacy and security of users. Whether it's due to
counter-intuitive privacy settings or serious security flaws, users of online
dating profiles risk their privacy and security every day. We've put together
six sobering facts about online dating services and a few suggestions for
routing around the privacy pitfalls.
Comparing Privacy and Security
Practices on Online Dating Sites
Concerned
about your privacy when you use online dating sites? You should be. We found
that the majority of the sites we examined did not take even basic security
precautions, leaving users vulnerable to having their personal information
exposed or their entire account taken over when using shared networks, such as
at coffee shops or libraries.
A Better Path for Apps: Respecting
Users and Their Privacy
Earlier
this week, a Singapore-based iOS software developer made a startling discovery
while working with the popular social-networking app Path: in the course of
every new account creation, Path uploads the new user's entire iPhone address
book to their servers. The strong user reaction demonstrates that even as norms
of sharing evolve online and in the social networking space, users still value
their privacy highly.
The
world's biggest democracy is a formidable power in the IT sector. Despite
playing such a role -- or perhaps because of it -- India has struggled to
strike a balance between its security concerns and online freedom. Though the
country's constitution guarantees the right to freedom of expression, the state
is given the right to impose "reasonable restrictions ... in the interests
of the sovereignty and integrity of India, the security of the State, friendly
relations with foreign States, public order, decency or morality, or in relation
to contempt of court, defamation, or incitement to an offence."
Iran Ratchets Up Its Internet
Censorship
The
Iranian government has not openly acknowledged these new measures. However,
they are widely thought to be preliminary steps towards a nation-wide Halal
Internet that would cut off a majority of citizens from the global web --
replacing it with one that would effectively block all foreign sites, allowing
only state-controlled content to be accessed within Iran.
What the RIAA Won't Tell You: Users
Matter
The
New York Times published a lengthy screed from Cary Sherman, president of the
Recording Industry Association of America, complaining about how "Google
and Wikipedia" got in the way of efforts to ram through the Internet
blacklist bills, never mind the massive collateral damage to Internet security,
expression, and innovation those bills would have caused. The op-ed's really
unfortunate message is that Hollywood still thinks the way forward is for a few
executives to sit down together and make a deal.
The perpetual, invisible window
into your Gmail inbox
Since
Gmail added OAuth support, an increasing number of startups are asking for a
perpetual, silent window into your inbox. While hugely convenient for both
developers and users, OAuth may be paving the way for an inevitable privacy
meltdown.
Amnesty International: EU urged to
reject international anti-counterfeiting pact
Amnesty
International urged EU governments not to join the Anti-Counterfeiting Trade
Agreement (ACTA), branding it a "Pandora's box" of potential human
rights violations.
We are the media, and so are you
In
a Washington Post op-ed, Wikipedia founder Jimmy Wales explains that it's
users, not corporate interests, who won the SOPA/PIPA fight.
ISSN
1062-9424
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Infowars.com
| Authorities are trying to officially designate noncomformity and free
thinking as a mental illness. [ Try as they might, it’s doubtful such efforts
could succeed, almost by definition alone, without self-destructive complicity on the part of
the APA which would by so doing undermine the APA’s credibility, as well as,
their substantial progress and achievements in this field. ]
Chimp from 1930s US 'Tarzan' films dead at 80 [
Chimpout! Blacks in mourning! ] Cheetah, a chimpanzee said to have performed in
the "Tarzan" films of the 1930s, has died at the age of 80, according
to the Florida sanctuary where he lived. Did Cheetah from 1930s Tarzan flicks die? A Florida
animal sanctuary says Cheetah, the chimpanzee sidekick in the Tarzan movies of
the early 1930s, has died at 80. But other accounts call that claim into
question.
Pakistan's military rejects Pentagon findings, denies coup plot MiamiHerald.com [Yeah … come on … who’d possibly be
foolish enough to believe the u.s. military or any other agency, entity of the
u.s., particularly concerning such a nefarious incident. Pervasively corrupt,
defacto bankrupt america doesn’t even own up to incidents concerning Americans
(ie., Pat Tillman, etc.).
Sneaker Mob Goes On Rampage: The Decline of Western
Civilization John Galt | When the collapse happens, your
neighborhood becomes a permanent Black Eye Friday.
They Can't
Wait, They (blacks) Break Into The Mall...
PappyHappy
How many used
their EBT card??
The following
is a MUST SEE for those who perceived themselves as ‘LEADERS OF URBAN AREAS,
AND FIXERS OF URBAN PROBLEMS’!
This is a
video of Mayor Michael Nutter (Mayor of Philadelphia) speaking at his Church in
August 2011. The video is approximately 30 minutes long, but a tutorial that
would be most beneficial to leaders, and those wishing to make a positive
change. Jump to MINUTE 9 for his salient points.
Makes one
wonder where other ‘self professed urban leaders’ have been doesn’t it??
December 23, 2011 at 8:27 pm | Reply | Report comment
Mudholder
I knew we were
headed towards ” Idiocracy “, when in 1971 they started teaching “ebonics”. at
Lakewood high school.
December 23, 2011 at 10:02 pm | Reply | Report comment
rusty the right wing nut
yeah its were
our tax money went statisticaly we paid for some of them shoes bunch of apes
they ussed their obama welfare foodstamp and unemploymeny money and probly some
money they sold crack for and probly pimped a few ni$$a Bi%%%%S as well for
cause dem shoes cause dey tight
December 23, 2011 at 10:37 pm
Michael
Christmas is
the birthday of the Son of God. Civilizied Christains worship God, love
eachother and seek peace on earth. Animals worship material material goods
which will fill a landfill someday. I pity the animals.
December 23, 2011 at 10:48 pm
DIVERSITY IS OUR STRENGTH!
Welcome to our
http://www.NewNation.org
December 23, 2011 at 11:21 pm
Allan Sokyra
DIVERSITY IS
NOT OUR STRENGTH!
UNITY IS. But that’s not somthing I expect the gimme, gimme, gimme diversity
crowd to understand.
December 24, 2011 at 3:22 am
JoeJones
Gimme some of
dem Obamabucks man!
December 24, 2011 at 5:34 am
Hal McCombs
Hey
“Diversity”? Do you not know the English language?
How can
‘diversity’, the root of which is “to divide”, bring us together?
Are all
leftists as stupid as you? (Especially the one calling himself “rusty”
pretending to be a ‘right-wing’ redneck.)
December 24, 2011 at 5:53 am
Rita Ippolito
contrast this
honest and strong Black leader with the Race hustlers like Sharpton, Jackson..
WE NEED MORE LIKE HIM
December 23, 2011 at 11:13 pm | Reply | Report comment
Jomama
Obama
supporters…what do you expect? Uncivilized and immature. Good God, a pair of
shoes and the chaos it causes? What about what our leaders are doing to this
country and not a care…God help the USA!
December 23, 2011 at 11:34 pm | Reply | Report comment
LA Doc
Man, you ain’t
kidding. Freeloading, thieving, ghetto-rats. All of them. Just like the animals
in the WH and Congress.
December 23, 2011 at 11:46 pm
bullrider
I haven’t
spent a fraction of what those shoes cost for any I’ve bought EVER. Of course,
I’m a systems analyst and have to pay every frigging dime of the cost for food,
housing, clothing, medical care etc. for myself and my family, and pay huge
taxes on my $60K income so others CAN afford to buy those UGLY f-ing shoes.
December 24, 2011 at 12:39 am
Rob Frey
Wow I am
appalled at the state of society and just as appalled at the racial tones
thrown around in the comments. When i read this i didn’t even equate this to
black or white. Although reading more about this most of this was people of
color. Don’t get me wrong i am no liberal i just don’t see skin color as a
judgement before character. This season there has been a far greater number of
stories of blacks in shopping incidents. I am sure the we will do a 10 million
dollar study funded by the government. My thought is the social issues are
escalating due to the not phasing out of Affirmative action. It had a purpose
initially but now there is a segment of society dependent on it along with
providing a nanny state. It’s creating a racial divide and an attitude of oh i
deserve this it’s taken generations. We now have a nanny state, which is by
design to buy votes not to help long term by making us equal in anyway. We have
now a group that is dependent and believes they are less than so they need
this. This didn’t create equality, it created a monster and now we have a
president who is using the divide it has cause as a weapon against whites. The
facts are well know there is no evidence that supports this Affirmative action
as a long term thing had help our society. We all have to stand on our own
sooner or later. Please don’t read into this that i believe all blacks are in
this whirlpool hell no. It’s very much becoming a Hispanic issue also, they can
sneak into the US and get a free ride on many services. What the hell, i have
been brought up if i can’t afford i don’t get it, including times where my
cupboard was bare. I don’t go to the state, don’t have kids if you can’t afford
them, don’t have sex if you can’t afford protection. Yet we provide food and
shelter for people who do nothing for other peoples money distributed by the
Government and stolen from the tax payer. We are at a tipping point the number
of people on assistance is close to the amount not when that happens we have no
chance of turning it around. This mess filled a need and works fine short term,
long term dependence take incentive and personal drive away and creates a
restless society that is given just enough to get buy and no satisfaction of
achievement. This is a colorless problem of entitlements and Affirmative
action. Now we are at a point if we change it there is going to be racial and
class warfare. Thanks libs, thanks obama for the mastering us of the race card.
Sorry about the rant.
December 23, 2011 at 11:45 pm | Reply | Report comment
rusty the right wing nut
liberal Pu$$Y
probly voted for HObama
December 23, 2011 at 11:47 pm
Annie
Dont insult
the intelligence of smart blacks or caucasions . Affirmative action is a
symptom not a cause. This is the face of ghetto culture and this primative
behavior exists in every african nation on earth. Stop with the excuses. Every
culture has been enslaved and “oppressed”. The mark of a people is how you pick
yourself up, rise above and organize your social behavior.This continued
infantalization of African American cultures doesn’t do anyone any favors. What
exactly is it doing for you? Cui bono?
December 24, 2011 at 12:17 am
bullrider
I’m not a
person of color. I must be transparent like window glass.
December 24, 2011 at 12:41 am
Andrew
Gee aren’t you
so swell…you are just a such a peach to be so above seeing the politically
incorrect but oh so obvious truth. The obvious fact being that 99.5% of urban
blacks give the remaining half percent a bad rap. Pull your head out…it ain’t
racist if (and it is) the truth. These ‘people’ are an embarrassment to any
thinking individual, they are uncivil and are effectively acting as the water
in the fuel tank of this once great nation, and you are not helping by denying
it. I know you would not hold back if it was a bunch of white trash doing the
same.
December 24, 2011 at 12:52 am
Chris
A “gift” tree?
Does this mean the Menorah is now a gift candle stick?
December 24, 2011 at 12:48 am | Reply | Report comment
Jessie
This is a
black leader NOT Jackson , Sharpton and othe rcriminals. The black community
needs to get a grip on the hip hop culture of thugs and do it fast .
Democrat entitlement programs have ruined the black community over the last 3
decades . This is what you wind up with
December 24, 2011 at 1:06 am | Reply | Report comment
GW
Meanwhile
across town, the Reverand Al Sharpton held an Occupy Nike event, at which he
decried the Nike corp of exploiting the inner city by creating the shoe in the
first place “this is obviously a scheme to take from the poor and give to the
1%” “Nike should be ashamed at the way it has made these honor roll students
behave”. The crowd supporters behind him chanted “Jordon! Fordon” as the
Reverand went on to ask: “why didn’t Nike just give the shoes away to anyone
that wanted them? This is an outrage”. Senetor Maxinne Waters promised a full
congressional hearing, and the president remarked that the police acted “stupidly.
December 24, 2011 at 4:43 am | Reply | Report comment
hooky
Well, throw a pair
of Air Jordans in front of a group of blacks is like throwing raw meat in the
lion’s den. What would one expect? Get real!
December 23, 2011 at 8:28 pm | Reply | Report comment
RC
Your confused
with food stamps…
December 23, 2011 at 10:39 pm | Reply | Report comment
rusty the right wing nut
what-
im confused f u f a g
December 23, 2011 at 10:46 pm
rusty the right wing nut
no they sell
the card or buy food and sell it at a cheaper price cause black chicks tend to
have a $hit ton of kids so they have a lot they but theyre broke lazy a$$
boyfriend these so after he impregnates her he can run away faster. Stupid A$$
December 23, 2011 at 10:49 pm
Boston Patriot
@RC: The
proper grammatical construction is “you’re” for you are. Thanks
December 23, 2011 at 11:25 pm
Rick O'Shea
I thought I
saw Moochelle back in the crowd.
December 23, 2011 at 8:35 pm | Reply | Report comment
Midge Martin
“Good people
do not need laws to tell them to act responsibly, while bad people will find a
way around the laws.”
- Plato
December 23, 2011 at 8:41 pm | Reply | Report comment
I P Standing
rituals of
primitive cultures
December 23, 2011 at 8:42 pm | Reply | Report comment
Bahb
Tell me,
please, what in the hell is a “gift tree”? Christmas is 2 days away. Call it
what it is – a CHRISTMAS TREE! And for those who think that we should be saying
“Happy Holidays” instead of “Merry Christmas”, ‘holiday’ is just a shortened
version of “holy day”. Stick that in your pipe and smoke it!
December 23, 2011 at 8:43 pm | Reply | Report comment
rachel
AMEN!
December 23, 2011 at 9:26 pm | Reply | Report comment
Clearhead
You told it
like it is Bahbbi boy. We’re proud, proud, proud of you !! Furthermore — PRAISE
GOD FROM WHOM ALL BLESSINGS FLOW !!!
December 23, 2011 at 9:52 pm | Reply | Report comment
Tyrone
We be
celebrates da Kwanza, not da white man holidays. Kwanza be for da chosen
peoples.
December 23, 2011 at 10:11 pm | Reply | Report comment
bullrider
I thought that
for Kwanzaa the gifts were more along the lines of candles, baskets, nuts,
fruit, and crafts – not overpriced, UGLY shoes.
December 24, 2011 at 12:43 am
Hal McCombs
So a Kwanza
tree is made of Air Jordans? Figures.
December 24, 2011 at 5:58 am
YepYep
This is really
sad. We should pass a law that black people are not allowed in stores during
normal business hours for the sake of safety. What a bunch of animals..
December 23, 2011 at 8:45 pm | Reply | Report comment
Sisao Tresed
Don’t forget
these same people have special Christmas Shopping coats for that extra
discount.
December 23, 2011 at 10:22 pm | Reply | Report comment
I was taught
as a youth to respect all people regardless of their color. I try to understand
why these b-la-c-k-s act so hostile and seem to be easily provoked. Am I missing
something?
December 23, 2011 at 8:48 pm | Reply | Report comment
lvh
No not
you..Not me. I feel as you do.
This is BIG GOV at work.
December 23, 2011 at 9:11 pm | Reply | Report comment
Dave
Yep.
December 23, 2011 at 9:29 pm | Reply | Report comment
Marilyn
It has nothing
to do with the color of their skin. This is what liberalism has done to the
urban areas. They tell a group of people that they are not capable of providing
for their families and that everyone else owes them, and they promise that the
government will take care of them. Thus the people barely get by, have too much
idle time on their hands, they are unhappy, want the same things as most
families but they are dependent on the government, and they have been told their
WHOLE LIFE that they are not capable of anything more, and the cycle continues.
What liberalism has done to human beings breaks my heart.
December 23, 2011 at 9:58 pm | Reply | Report comment
SAJ
Marilyn,
You have provided an excellent succinct explaination for this type of behavior.
However, you have left out the fact that people’s sinful desires push them
toward these actions. Because the people of whom we speak have too frequently
not faced the consequences of their actions. they are often all too willing to
act in very unlawful ways.
December 23, 2011 at 10:34 pm
bullrider
Liberalism and
the Democrats have destroyed the black family structure and turned them into a
taxpayer-subsidized crop of Dem voters. In 1940 – back before all the civil
rights and welfare stuff began – 80% of black children were born into married,
two parent families. What is that figure nowadays? 10% maybe? It is sure a
small fraction of what it used to be.
December 24, 2011 at 12:45 am
Jessie
This is a
black leader NOT Jackson , Sharpton and othe rcriminals. The black community
needs to get a grip on the hip hop culture of thugs and do it fast .
Democrat entitlement programs have ruined the black community over the last 3
decades . This is what you wind up with
Spot on reply. Liberal policies have ruined the black community over 3 decades.
December 24, 2011 at 1:08 am
Eric
http://stuffblackpeopledontlike.blogspot.com/2011/12/not-exactly-christmas-shoes-black.html
This doesn’t
happen with white people at Apple stores trying to buy the latest iPod.
December 23, 2011 at 8:49 pm | Reply | Report comment
Major Bananorama
To reduce
widespread chimpage, store management should have had a large stock of shiney
washers, baubles and mango’s to throw out into the pack to keep them amused.
December 23, 2011 at 8:49 pm | Reply | Report comment
Pingback: Cops pepper spray mob... | Breaking
News
Pingback: Brawl... | Breaking News
Derrick
I’m black.
I am absolutely disgraced by this.
No wonder white people think we are animals.
December 23, 2011 at 8:55 pm | Reply | Report comment
rachel
Black people
are their own worst enemy.
December 23, 2011 at 9:30 pm | Reply | Report comment
kari ju
Derrick we
just need to do a lot of work on people’s hearts. we have let cheap politics
fill the void where moral teaching should be. We have left all our poorest to
the mercies of government and amoral “leaders.” bad move, that.
December 23, 2011 at 9:40 pm | Reply | Report comment
Clearhead
White people
don’t think you’re animals, Derrick. All colors of people act like animals
sometimes. The ones that ACT like animals are the ones all people should think
of as animals. (Apologies to most animals).
December 23, 2011 at 9:57 pm | Reply | Report comment
Darrel
I think 60-70
percent of blacks ARE violent nasty rabid animals. 30-40 percent are human
beings and decent. Facts are facts.
December 23, 2011 at 10:13 pm
tward
Derrick:
Whites and Blacks have Jesus in common. If both would live up to His standard
of loving our neighbors there would be no fights, thefts and no hate. Merry
Christmas from a Southern Hillbilly White Boy.
December 23, 2011 at 10:00 pm | Reply | Report comment
rusty the right wing nut
cause u are
December 23, 2011 at 10:39 pm | Reply | Report comment
Jack
Were these the
“greedy” 1%? No? I guess “greed” isn’t just a rich thing.
December 23, 2011 at 8:56 pm | Reply | Report comment
NightRider
What do you
expect from sub-human animals? The Negroid race has always been and will always
be ‘a joke’ and a waste. As a group they cause nothing but continued
problems…it has always been this way (read their history) and they always will.
December 23, 2011 at 8:57 pm | Reply | Report comment
Marilyn
You are a
‘joke’ and a waste of time.
December 23, 2011 at 10:00 pm | Reply | Report comment
JimRocky
Actually he is
right Marilyn. You just have eyes that refuse to see.
December 24, 2011 at 12:17 am
nwpurpletoo
Tell me again
why there are more blacks in prison than whites. I’m just sayin’.
December 23, 2011 at 8:59 pm | Reply | Report comment
Jim H
That’s easy.
Blacks are hostile and easily provoked because they feel entitled. Generation
after generation teach their kids how to manipulate the system and they are
experts at it. Most of them think that society owes them something and that it
should provide for them.
Come to think
of it if I was black with an IQ like some of those in these videos – I’d be
hostile too.
December 23, 2011 at 9:03 pm | Reply | Report comment
BigBoa
Just another
chimp-out.
Check out
chimpoutdotcom and see if this clip made the cut!
Savage
animals……
December 23, 2011 at 9:05 pm | Reply | Report comment
B Guyton
I thought they
were running to vote for Obama.
December 23, 2011 at 9:06 pm | Reply | Report comment
Dave
Wait til you
see what happens when he loses.
December 23, 2011 at 9:31 pm | Reply | Report comment
enguard
the cream of
the black culture on glaring display….we’re already paying reparations
considering this level of depravity embedded in our society.
The parents (and there are some among the mob) must be proud.
chimping out
as an Olympic sport?…oh wait…basketball
December 23, 2011 at 9:09 pm | Reply | Report comment
Jamex Anderson
I just saw
Rise of From The planet of the Apes.
December 23, 2011 at 9:09 pm | Reply | Report comment
B. Guyton
O.K.people
this will tell you everything you want to know about this incident.
THIS IS THE
REAL STORY, NOT WHITEY”S MADE UP STUFF.
http://therealrevo.com/blog/?p=57506
December 23, 2011 at 9:11 pm | Reply | Report comment
Collector
At what point
in society do we finally stop and admit that a certain race of people are
different from all other races. A certain race of people are more violent and
mean than others. When do we start seperating this group from others for
protection of society in general. When a certain race costs everybody more because
of their out of control lawlessness, should we make them pay instead of
penalizing everybody for the actions of a few. Frankly, I’m tired of my taxes
being higher to pay for more police, more prisons, more courts and additional
defense attorneys because 12% of the population commits 70% of the crime. Food
and clothing costs are higher because of theft, insurance is higher because of
carelessness, stealing, vandalizism, drug use and virtually every other
commodity and activity is more expensive because one race fails to raise their
kids and fails to teach their children to follow and respect the law. It’s
unfortunate and sad because there are a few members of this race who do what’s
right but they are overshadowed by a large majority who act completely uncivilized.
We’ve been allowing this to go on long enough. Something must be done and that
doesn’t mean more free handouts or reparations. It’s time they started paying
for what they take, use, destroy and what they cost the World.
December 23, 2011 at 9:11 pm | Reply | Report comment
Mustafa
If the
Jordan’s fit,,,,,
When these idiots act like a bunch of thugs, it perpetuates the caricature of
the black population. Compare New Orleans after Katrina vs Japan after the
tsunami’s. Classless vs Class. It be what it be.
December 23, 2011 at 9:48 pm | Reply | Report comment
Bob3
CCW is a good
place to start, they lack empathy and impulse control, pain and misery is all
the understand be prepared to deliver it.
December 23, 2011 at 10:12 pm | Reply | Report comment
rusty the right wing nut
dont worry
everyone knows it even blacks know we all know it even diggers know it there is
a race war coming i dont think its right but its just the ways it is wP
December 23, 2011 at 10:43 pm | Reply | Report comment
John Frost
Darwin:”
Blacks are not Human but wild african animals……predator animals”
We are dealing with savage beasts….unleashed. Race war is coming I feel it!
December 23, 2011 at 11:27 pm | Reply | Report comment
rusty the right wing nut
i love sickle
cell lol
December 23, 2011 at 11:36 pm
rusty the right wing nut
White Power
White Power
December 23, 2011 at 11:50 pm
Steve
What a bunch
of disgusting savages…enough said.
December 23, 2011 at 9:14 pm | Reply | Report comment
Pingback: Gunfire... | Breaking News
rachel
Why am I not
surprised? What a disgusting bunch of useless thugs. I’m ashamed to call these
people countrymen. I call them boils on the backside of America.
December 23, 2011 at 9:25 pm | Reply | Report comment
One-Who-Will-Listen
People of any
race are greedy, selfish, and prideful. Why this happens in America, where we
have all the resources we need to survive and be well fed, I just don’t
understand. What the h-ll is so important about a pair of overpriced shoes? I
don’t get it; really, I don’t.
December 23, 2011 at 9:26 pm | Reply | Report comment
kari ju
testify. no
way this is a unique black thing.
December 23, 2011 at 9:32 pm | Reply | Report comment
Black Thing
testify. this
is a unique black thing.
December 23, 2011 at 10:17 pm
ton
Sorry, it is.
December 23, 2011 at 10:23 pm
Big Papi
Now imagine if
there was a huge catastrophe that hit a very widespread area and food and electricity,
gas and cash could not be had. You would have this scene times a thousand.
Apparently this group of society would cause continued chaos while others tried
to manage. Best advice? Have your own food stored, cash on hand, and not only
posses firearms but be proficient in their use. It will be a life and death
situation that this group of society will only make worse. If you arent scared,
you arent living in reality. Get over the “hater” taunts and racist shouts—if
they’d do this over fashion sneakers imagine what they’d do to you in a true
crisis. The Police cant protect us anymore. Be Prepared but also be armed,
irregardless of your political and 2nd amendment views. You will not survive
believing that good intentions will save us all.
December 23, 2011 at 9:34 pm | Reply | Report comment
rusty the right wing nut
well said arm
the Fu”#$ UP dese nig have gone nuts
December 23, 2011 at 10:55 pm | Reply | Report comment
Jon Baker
Okay, I’m just
going to say it, I’ve never been p.c. anyway. What is it about Negroes and
sports shoes? I mean really, somebody should study this. Stereotypes come from
truth, the problem though is when you say all. Now I know all blacks aren’t
like this , obviously any intelligent person knows that but too many are. And I
bet the deficit that if you called any of them on it that were involved in this
they would call you a racists, and blacks bold enough to speak out self haters.
As nasty and far gone as Chicago already is they better be on their knees
grateful for Richard M. Daley and Rahm Emanuel on duty now who chose to follow
the New York model Because It sure was heading towards being another Detroit.
Get out now while you still can.
December 23, 2011 at 9:35 pm | Reply | Report comment
kari ju
cmon guys –
the racist stuff is degrading all of us and it is offensive to Mayor Nutter and
the good people in that church, none of whom deserve to see that kind of thing
in print. They are on our side and they deserve our respect. The riot over
shoes is just what you’d expect anywhere that a leftist government panders to a
dependent class, telling them they’re entitled. Remember the London riots a few
months ago? This kind of thing happens the world over and it is not a black
thing per se
December 23, 2011 at 9:36 pm | Reply | Report comment
B. Guyton
Watch the
video above that provides a black man’s prospective. It may help you understand
why this is happening.
December 23, 2011 at 9:41 pm | Reply | Report comment
b. Guyton
Here is the
video. It may help explain the problem from a black man’s prospective.
Racist……………maybe?
http://therealrevo.com/blog/?p=57506
December 23, 2011 at 9:47 pm | Reply | Report comment
Pingback: They Can't Wait, They Break Into The
Mall... | Breaking News
Jason, NYC
Animals, all
of them, animals…
December 23, 2011 at 9:58 pm | Reply | Report comment
BubbaT
No, not all.
But that’s what the Government would like us to believe.
December 23, 2011 at 11:36 pm | Reply | Report comment
Obamanation
I’m suprised
they didn’t just steal the shoes. Redistribute the wealth to the lame and lazy
parasites of society. Leaches and slugs in $180 shoes.
December 23, 2011 at 10:08 pm | Reply | Report comment
Marilyn
Most of these
comments are really horrible. This has NOTHING to do with the race of the
people involved. This is what happens with 50 years of liberalism. This is
exactly what the democrat party wanted. A segment of society that will ALWAYS
vote for them. They have taken a group of people and for generations have told
them that the rest of society owes them. They have told this group of people
that they are NOT capable of taking care of themselves or their families. They
have been pushed through school while learning NOTHING except what party to
vote for. When a crime is committed they are often not made to pay for the
crime but are given exuses for the crime. What did you democrat voters think would
happen? That your stupid policies would work, even though you look back and see
50 years of failure.
December 23, 2011 at 10:10 pm | Reply | Report comment
B. Guyton
From the
cotton and rice plantations to the Democrat plantation!!
December 23, 2011 at 10:16 pm | Reply | Report comment
Rita Ippolito
I’m a
conservative, not a racist. too many racists here for me but this comment from
Guyton … hit the mark…
Blacks will
continue to be Democrats no matter what as long as the Democrats promise
entitlements and as long as the nuclear Black family is in shambles.
December 23, 2011 at 11:18 pm
New York Nick
You got that
right brah……. the dem plantation of fools , where be my handouts!!
December 23, 2011 at 11:21 pm
Joe G
Nothing to do
with the race of the people involved? EVERY majority black city in the world is
a crime and disease ridden slum. The only logical conclusion is that race is a
factor.
December 24, 2011 at 12:30 am | Reply | Report comment
Mike in Grasonville
Just another
example of blacks being a blight on society. Far too many of them live off the
backs of others, see Section 8 housing, welfare, food stamps, etc. No other
group, or should I say ethnic group behaves like this. Check any school systems
acheivement scores asnd you will see that blascks are dead last. So, does this
surprise anyone? Send them back to Africa, if they’ll have them.
December 23, 2011 at 10:11 pm | Reply | Report comment
jewbag
blacks.
December 23, 2011 at 10:15 pm | Reply | Report comment
Hollywood Hick
When members
of the black community see these stories, what are they thinking? Is there any
wonder the black community is such a mess? They are the most pandered-to ethnic
group on the planet and they are a hopeless disaster.
December 23, 2011 at 10:16 pm | Reply | Report comment
B. Guyton
Hay!! You need
nice shoes to walk around the Democrat plantation.
December 23, 2011 at 10:22 pm | Reply | Report comment
Bob13
Oh and don’t
forget the chocolate Jesus wants to make these upstanding citizens your
neighbors via sec8 housing and the best part is he’s gonna use your “white”
taxpayer dollars to do it.
Imagine the
joy of waking up one sunny morning to find a house full of these hood rats
living next door to you in your soon to be formally pristine neighborhood, and
of course and again the best part is that you get to pay for it and the schools
that their animalistic spawn will soon ruin, ain’t life grand?
It’s time for
weak feeble minded white people to grow a pair and stop this garbage, if
someone calls me a racist I laugh, that tired old worn out phrase means
nothing, these animals need to clean up their own mess or to their extreme
displeasure others will do it for them.
December 23, 2011 at 10:27 pm | Reply | Report comment
RicardoCabeza
The Negros are
their own worst enemy they just can’t help themselves. For the most part they
have no decency, no discipline and pure gutter trash instinct. I don’t
particularly blame them though they have a weak constitution It’s what the
welfare, government cheese and hand outs does to them that is the shame here.
December 23, 2011 at 10:29 pm | Reply | Report comment
Larry Sinclair
Dang 1%’ers …
cause we know those 99% are so broke they can’t even afford food for the kids
and surly don’t have $180.00 laying around .. unless you sell your EBT food for
cash …..
December 23, 2011 at 10:34 pm | Reply | Report comment
Steve
If anyone is
curious what a product of Socialism looks like, this is it. The Democrat Party
presents us with the great society!!
December 23, 2011 at 10:37 pm | Reply | Report comment
Obamas Stash
Black on Black
crime .. what’s new? Democrats started Jim Crow Laws,,, Democrats started the
KKK, Democrats took away blacks civil rights in 1875 but they cannot figure out
why after voting Democrrat 50 yrs they are still as bad off as they were ….
December 23, 2011 at 10:38 pm | Reply | Report comment
ramon
You are 100%
right on target.
It amazes me
how Blacks vote 85 to 95% Dumbocrat every Presidential election. No matter if
it’s Obama, Kerry or any other Dumbocrat!
December 24, 2011 at 3:17 am | Reply | Report comment
Sisao Tresed
This whole
mentality was spawned by big government, but every intelligent man must think
for himself and act as his own man or woman. Long after this event has passed,
the bitter taste of welfare, drugs, booze and abortion on demand, and school
systems that affirm lawlessness and immorality in the schools will be alive and
well in the black community. An illiterate ebonics-speaking woman named
“something-esha” is not gonna be at the top of the resume’ pile. Sadly, so many
good black folks get painted with this brush, and it’s unfair. “Feral” blacks
understand what they are doing wrong, but they don’t care. They have become
uncivilized. Politicians like them because they 1) vote as a single block, 2)
are easy to fool, 3) they don’t learn fast, 4)they just want “more stuff” which
politicians love to throw at them in speeches, and bellicose repartee; but no
action. But again…see #2.
December 23, 2011 at 10:42 pm | Reply | Report comment
Bill Brennan
if the shoe
fits…
December 23, 2011 at 10:43 pm | Reply | Report comment
Joe
Now that’s a
funny line.
December 24, 2011 at 2:20 am | Reply | Report comment
I guess ignorance is a virtue
People are
getting hurt or injured bad because of a pair of stinkin air jordan shoes, ill
be damned if i will buy a pair of these shoes that are prob made in China, Yes
i said China!! What a bunch of a ..holes …. Ok they have bought the shoes , 6
or 7 months later they will be in the trash , how ignorant and stupid can ppl
be ?
December 23, 2011 at 10:47 pm | Reply | Report comment
NowSwimBack
The Civil
Rights Act was a great idea, wasn’t it? If they’re not in your neighborhood,
they will be soon. Enjoy ‘em.
December 23, 2011 at 10:50 pm | Reply | Report comment
REAL STUPIDITY
REALLY? 180.00
FOR STINKIN SHOES
December 23, 2011 at 10:51 pm | Reply | Report comment
brutesforce
Baby needs a
new pair of shoes.
December 23, 2011 at 10:52 pm | Reply | Report comment
rusty the right wing nut
PS F&CK U
DEtroit and your pos Lions cause they suck too!!!!!
WE need to
bulldoze that big a$$ ghetto down look Like a Fu%% bomb went off in that citty
December 23, 2011 at 10:57 pm | Reply | Report comment
Uncle Remus
Dang freakin’
kneegroes (sic)…… they wouldn’t fight this hard for the last job on earth
…unless it was a bank job/heist…
December 23, 2011 at 11:18 pm | Reply | Report comment
Kim Bailey
“Wild savages
must be caged and returned to Africa” Said a Mall security guard
December 23, 2011 at 11:23 pm | Reply | Report comment
Richard Jones
Those
“shoppers” all look like obamas. Down here in Texas we don’t let obamas get
away with that kind of behavior.
December 23, 2011 at 11:46 pm | Reply | Report comment
james
We need to
bring back segregation. Blacks are not fit to live in a civilized society. It
was obvious then, and it’s obvious now.
December 23, 2011 at 11:52 pm | Reply | Report comment
retired
they just
happen to be 99.9% black…. just a frkkin coincidence…
December 23, 2011 at 11:55 pm | Reply | Report comment
Jim Burke
Wow………..
When I first
saw the film footage I was away from the monitor and couldn’t hear the audio. I
thought it was footage of people scrambling for an airplane food drop in
Biafra.
December 24, 2011 at 12:08 am | Reply | Report comment
Jim Burke
Next year
require a pay stub for purchase rights.
December 24, 2011 at 12:09 am | Reply | Report comment
ryan
Aren’t these
people the 99%?
December 24, 2011 at 12:10 am | Reply | Report comment
Joe G
All blacks in
North America need to be either shot or deported. Like Baboons, blacks can’t
help acting the way they do. They’re born that way. I just don’t want them
roaming the streets in North America. Blacks have made every city in which they
are the majority unlivable for white families. White people would be much
better off without them.
December 24, 2011 at 12:12 am | Reply | Report comment
William Baranowski
‘gro footsies.
December 24, 2011 at 12:13 am | Reply | Report comment
Joe
These are the
same people that will do everything in their power to keep their leader in
power. Are these the first of obozos brown shirts?
TAKE BACK AMERICA 2012
December 24, 2011 at 12:20 am | Reply | Report comment
Liberal_Stupidity
When you got a
radical leader that is the most negative prez America has experienced it just
give permission for eveyone like hime to behave in the exact same way. I hope
America is watching and uses thier vote next year to cut the head off the snake
in DC
December 24, 2011 at 12:21 am | Reply | Report comment
Joe Blow
Forget about
color. These are democrats!
December 24, 2011 at 12:34 am | Reply | Report comment
Cigars Andscotch
Exactly what I
had expected. The crimes were committed by a bunch of white soccer moms…….oh,
wait a minute
December 24, 2011 at 12:52 am | Reply | Report comment
Jerry Frey
PHILADELPHIA —
Mayor Michael A. Nutter, telling marauding black youths “you have damaged your
own race,” imposed a tougher curfew Monday in response to the latest “flash mob”
— spontaneous groups of teens who attack people at random on the streets of the
city’s tourist and fashionable shopping districts.
“Take those
God-darn hoodies down, especially in the summer,” Mr. Nutter, the city’s third
black mayor, said in an angry lecture aimed at black teens. “Pull your pants up
and buy a belt ‘cause no one wants to see your underwear or the crack of your
butt.”
“If you walk
into somebody’s office with your hair uncombed and a pick in the back, and your
shoes untied, and your pants half down, tattoos up and down your arms and on
your neck, and you wonder why somebody won’t hire you? They don’t hire you
‘cause you look like you’re crazy,” the mayor said. “You have damaged your own
race.”
http://napoleonlive.info/did-you-know/violence-2/
December 24, 2011 at 12:54 am | Reply | Report comment
White people are really "Pink"
Funny how we
have all forgotten the fights and brawls that folks with “Pink” skin had over
Tickle Me Elmo dolls and few years back at Christmas time. Funny, I don’t
recall any Black folks calling them fighting “Pink” skinners names such as
“animals”. Is name calling and hate mongering inbred into the “Pink” race???
December 24, 2011 at 1:00 am | Reply | Report comment
Annie
“Pink” people,
mostly women tend to pull out each others hairs over bridal discounts like at
Filenes annual bridal sale. “Pink” men and soccer moms tend to scream, name
call and sometimes just lose it- and society comes down on them hard. Black
thugs take out switch blades, stab, shoot and kill others over a $100 pair of
sneakers. Even African honey bees have a propensity toward deadly swarming.
Face it and act (or DONT act) accordingly.
December 24, 2011 at 1:31 am | Reply | Report comment
RicardoCabeza
The negro
continually and always acts in an ignorant manner it is the curse of the
colored race the joyful embrace willful ignorance.
December 24, 2011 at 4:34 am | Reply | Report comment
jon
I checked the
facts, their were no shootings, breaking into the stores or fighting with
police over tickle me Elmo dolls. There also are no people with pink skin.
December 24, 2011 at 5:19 am | Reply | Report comment
Todd P.
And EVERY
SINGLE ONE of these simpletons VOTED FOR OBAMA!! (if they voted at all) Time to
set a time limit (# of years) on welfare benefits. If you can’t make it by
then, it’s time to beg for charity from a relative, friend, or church………
December 24, 2011 at 1:34 am | Reply | Report comment
Chaco
The Japanese
go through a Sunami and near nuclear meltdown with less turmoil than these
dopes fighting over some stupid ghetto fashion statement.
December 24, 2011 at 1:46 am | Reply | Report comment
sonic
Bet most there
were on welfare and WE paid for those ugly sneakers. Ignorant slobs
December 24, 2011 at 1:52 am | Reply | Report comment
Billy Bob
Those shoes
would look good on a 250 pound rapper.
December 24, 2011 at 1:59 am | Reply | Report comment
Pingback: Shoeblogging |
NavyOne
A Navy guy’s
take: http://themellowjihadi.com/2011/12/24/shoeblogging/
December 24, 2011 at 2:16 am | Reply | Report comment
David Rutstein
Terrible, how
we have to end Obama’s term and end this free lunch. http://www.beyondquotes.com/marijuana.
You can see the result of illegal drugs and welfare.
December 24, 2011 at 2:22 am | Reply | Report comment
Fatima
Lord, save us
from people who pepetuate negative stereotypes. Tsk, just too bad people cannot
get out of their own way and want to blame others for their poor outcomes in
life.
December 24, 2011 at 2:23 am | Reply | Report comment
jon
The people
that perpetuate negative stereotypes are blacks themselves. Go to Drudge Report
and see that blacks have rioted over these shoes in every major city where this
sale has been offered. How many example of the same behavior does it take for
you to wake up and smell the java beans?
December 24, 2011 at 5:16 am | Reply | Report comment
Panz
What happened
to the Civil Rights leaders and participants? If you look back at photos of
those people, their heads were always held high, they knew there was a better
America and they were helping to create it.
Then along
came the liberal programs, blacks were given handouts and special treatment and
this is the outcome. A bunch of animals fighting over ugly shoes. Shoes!
sneakers! They aren’t even decent shoes, just sneakers–you’ll wear them untied
so they flop around on your feet.
You can’t
speak English, merely ghetto slur. You can’t pull up or zip up your pants, you
can’t tie your shoes–you’re just not smart enough. And yes, your trashy
president encourages this behavior. You’re much easier to manage when you’re
just a bunch of animals to be poked and prodded as necessary.
There are
African Americans in this country and then there is you. Wake up and look at
yourself. All that for a pair of sneakers?? Really stupid.
December 24, 2011 at 2:39 am | Reply | Report comment
Toxic Avenger
It looks like
a negro sneaker frenzy.
December 24, 2011 at 2:46 am | Reply | Report comment
Ramon
Well, Well …
Obama supporters at their finest! (lol)
December 24, 2011 at 3:07 am | Reply | Report comment
justified
A thinking
person asks themselves, “What are you going to DO about it?” Are you going to
support the Democratic borne Welfare culture, that led directly to this mess,
or are you voting against their candidates by electing viable candidates i.e.
GOP candidates.
Not
Independents, as on a State or Federal level a vote THIS TIME for an
Independent is a vote for the End of America as we know it. The debt piling up
will kill us or the Taxes will.
ATTENTION:
Blue Dog Democrats, the DNC/Obama has stated ‘YOU are NOT in our Future plans.’
December 24, 2011 at 4:24 am | Reply | Report comment
John McCombs
Michael Jordan
and Nike should be held accountible for this atrocity. If gun manufacturers are
at fault for gun crimes, then Michael Jordan and Nike should be made to suffer
for this chimpout. On a serious note, however, wouldn’t a statement from
Michael Jordan go a long, long way toward reducing the violence. If he simply
said, “Really folks, are you serious? You’re going to hurt each other over a
pair of overpriced basketball shoes?” But no, MJ doesn’t have it in him because
as long as there is an extra nickel to be drained from his peeps, he’s
perfectly OK with the violence. Well done, Mike. Well done.
December 24, 2011 at 4:29 am | Reply | Report comment
A.K.
NEGRO’S ARE
ENORMOUSLY STUPIDLY VIOLENT…IT’S A BRAIN SIZE THING!
December 24, 2011 at 4:48 am | Reply | Report comment
jon
If you went to
Drudge you would see the ugly side of blacks is nation wide and not just a
local thing. What a shameful culture they have created amongst themselves
December 24, 2011 at 5:13 am | Reply | Report comment
Lordrobot
Illegitimate
Baby needs a new pair of shoes….
December 24, 2011 at 5:16 am | Reply | Report comment
Artic Slayer
lol nuttin
like obama people tryin to save the food
stamps fo sumpin like this mo impotant huh…
Oh Sorry was I a little racist….
naaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
Just the
facts…
Doubt me? Just
correct me and I will call you RACIST! lol
You
LOOSERSSSSSSSSSSSSSSSS.
I didn’t vote
for obama last time but this time I am
going to vote for him…. I think he is the best thing
for America in recent history… WONDERFUL! 4 more years
and this country will be purged of a corrupt congress and
senate because the people are going to purge every
politician out by civil war…. There will be unrest like
never seen in America. Because now Americans believe that
good is bad and bad is good. Once this country goes even
further to hell in a hand basket there will be a
purging… When Americans can’t say “Merry Christmas”
because good is bad and once they can’t store more than
seven days worth of food because good is bad and once
they can’t own a gun because good is bad….. There will
be a purging of the bad by the good! So lets pull
together and re-elect this person…. OBAMA2012!
December 24, 2011 at 5:43 am | Reply | Report comment
John Scott
lol nuttin
like obama people tryin to save the food
stamps fo sumpin like this mo impotant huh…
Oh Sorry was I a little racist….
naaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
Just the
facts…
Doubt me? Just
correct me and I will call you RACIST! lol
You
LOOSERSSSSSSSSSSSSSSSS.
I didn’t vote
for obama last time but this time I am
going to vote for him…. I think he is the best thing
for America in recent history… WONDERFUL! 4 more years
and this country will be purged of a corrupt congress and
senate because the people are going to purge every
politician out by civil war…. There will be unrest like
never seen in America. Because now Americans believe that
good is bad and bad is good. Once this country goes even
further to hell in a hand basket there will be a
purging… When Americans can’t say “Merry Christmas”
because good is bad and once they can’t store more than
seven days worth of food because good is bad and once
they can’t own a gun because good is bad….. There will
be a purging of the bad by the good! So lets pull
together and re-elect this person…. OBAMA2012!
December 24, 2011 at 5:49 am | Reply | Report comment
Steven Travis
What’s the one
common denominator in all this????
December 24, 2011 at 5:59 am | Reply | Report comment
Vince
The big question
is why isn’t OBAMA speaking out on this issue??? He manages to find time to
speak out if a white police officer is ACCUSED of racism when he restrains a
black “professor” from breaking into his house. Remember that? Without knowing
the facts he JUMPS and gives a speech. But incidents like these teenage
hoodlums who rob, beat up, and steal every day he says NOT A WORD about. This
is Obamanation. I hope those of you who voted for him are happy now.
December 24, 2011 at 6:06 am | Reply | Report comment
Cisco
Gorillas In
The Mist!
December 24, 2011 at 6:25 am | Reply | Report comment
feduptoo
Not so, they
take care of their young!
December 24, 2011 at 8:56 am | Reply | Report comment
McGruff
I immediately
wondered if my suspicion would be correct … and it was.
December 24, 2011 at 7:21 am | Reply | Report comment
gwbnyc
“under a gift
tree”
A GIFT TREE?
Cowards.
December 24, 2011 at 7:46 am | Reply | Report comment
Gustafus21
These are farm
animals — who were given human rights — and they behave as farm animals.
Look what
Venus Williams has done to tennis? – She threatens to ‘rearrange the face” of a
line judge?
They should
have been exterminated. Or forced breeding with whites could have produced
something more benign like O and family…. but ONLY white genes can influence
these vermin
December 24, 2011 at 7:47 am | Reply | Report comment
Barry bin Inhalin
I saw the
headline and didn’t even wonder.
December 24, 2011 at 7:55 am | Reply | Report comment
Patrick Nugent
EVERYBODY
SING: “We won’t go until we get some, we won’t go until we get some, we won’t
go until we get some, so bring it right here!”
December 24, 2011 at 7:59 am | Reply | Report comment
ShoeShine
What’s with
these people and shoes???
December 24, 2011 at 8:16 am | Reply | Report comment
Greg
I didn.t see
any white people ni the crowd? Only Blacks ??? What a violent group of people,
they need to get civilized.
December 24, 2011 at 8:33 am | Reply | Report comment
Mike_in_Kyiv
Pure
silliness! No gift is worth this! I remember the Cabbage Patch moms who were
fighting to get one of those ugly little dolls a few years back. Now it’s a
pair of shoes that are not – REPEST – NOT worth all that money and you all make
fools of yourselves. Shame on you on our Lord’s birthday.
December 24, 2011 at 8:44 am | Reply | Report comment
Grape Ape
Rev Al
Sharpton’s take on this news: “Da reason fo all deez people running amuck and
fightin’ and actin’ unruly is because da white man and society, namely
Republicans in da Congress, are gettin’ in the way of President Obama’s plan to
hand out more free monies into the minority community. It’s also the blame of
rich White communities across America who aren’t willing to spread more of
their wealth and make sure it goes into da hands of inner cities and
African-American communities. Think about it…if these fine, upstanding
customers had more monies at their disposal, they could have paid some illegal
aliens to stand in line for them to buy these items which they desperately need
and wouldn’t have to get into fights in da first place.”
Rev. Jesse
Jackson’s take on this news: “The EVIL corporations run by WHITE men are to
blame for this terrible atrocity!! Therefore, with all my graciousness and
good-will, I am planning to sue Nike shoes (for not supplying enough sneakers),
Michael Jordan’s white lawyer (because I can’t sue a good brother like MJ!),
the WHITE mall security who employed brutal tactics against these innocent
customers, and last but not least… my Rainbow Coalition will make sure these
businesses are not only selling enough items to African-American shoppers but
will also ensure that they are hiring enough minorities in their stories. And I
will say this, if our investigation turns up that they aren’t, we will take
them over and my son Jesse Jr and I will make sure that they are run fairly.
Plain and simple. It’s time to put an end to this WHITE tyranny in America once
and for all!!!”
December 24, 2011 at 8:48 am | Reply | Report comment
Death of America
Black people
are uncivilized savages. They are the only race that needs to be coddled and
treated like little babies. It’s not a “white vs. black” thing – NO other race
likes blacks. Disgusting beasts who belong in the freaking jungle, period.
Thank you LBJ and all you other POS democrats.
December 24, 2011 at 8:44 am | Reply | Report comment
Albert L. Peia
Yes...it's absolutely, unequivocally true that blacks
are inherently uncivilized and in evolutionary terms, only evolved to a point (
http://albertpeia.com/anthroindex1.htm
). They are themselves racist, intolerant, hypocritical [ UPDATE:
MORE CLAIMS OF RACE BIAS AT HOLDER JUSTICE DEPARTMENT... (WP) ‘ignore cases that involve black
defendants and white victims ' ], and prone to violence as with any
feral animal. Moreover, I must admit that I find their simian look repulsive;
and, even before totally realizing the foregoing reality owing to
self-destructive egalitarian propaganda, never did and never would know a black
female in the biblical sense (despite their ‘intrusively easy availability’ -
not a matter of skin color inasmuch as I have ‘known biblically’ red-Indian, brown-Hispanic,
yellow-Oriental women). Wobama the b for b***s*** is a typical, jive-talking
'n-word' and consequently an abject failure as president. I was fortunate to
have no blacks whatsoever in my schools (schooling) through high school.
http://www.albertpeia.com/todayspage.htm
MELEE AT
MALL OF AMERICA...
Man beaten
by robbers -- who stole new Air Jordan sneakers off his feet!...
Hundreds of
Teens Run Wild After Rumors That Rappers 'Lil Wayne, Drake Are There...
VIDEO: Mayhem, Screams...
California soldier shot at his homecoming party [ From one war
zone to another! ]
Islamists kill dozens in Nigeria Christmas bombs [ Blacks’
black Christmas! Typical! ]
For
‘self-defeating / self-destructive’ ‘political correctness’ or otherwise, I
believe the under-profiled black serial killer is also the consequence of their
proclivity for and love of killing, random, for no reason other than for the
sake of killing (which distinguishes them from and positions them below other
feral beasts) and otherwise, and an historic predisposition toward canabalism.
After all, the contra-indicated mainstream view (tv and otherwise) calls for a
white perp in terms of ‘profile’ which is of course, ridiculous. I believe the
under-reporting is owing to multiple killings by blacks being classified as
something other than ‘serial’; ie., gang, gang related, ‘typical’, etc..
Moreover, the anti-white bias of the black perps is also a reality that’s
under-reported. Take a look at the following brutally uncivilized black on
white violent rapes/murders:
http://www.albertpeia.com/whitesvictimizedbyblacks.htm
The following’s just Detroit, MI:
Black Serial/Mass/Spree Killer List:
1. Matthew
Emanuel Macon (Murdered and Raped 5 White Women in Lansing)
2. Jimmie
Reed (Murdered his wife and his 2 month old daughter and set them on fire)
3. Shelly
Brooks (Murdered 7 prostitutes in Detroit Cass Corridor)
4. Justin Blackshere
(Stabbed two white cooks at Cheli’s Chili downtown Detroit)
5. Jervon
Miguel Coleman (Murdered three people.)
6. Donell
Ramon Johnson (Murdered a mother and a daughter)
7. Brian
Ranard Davis (6 women known murdered by nigger)
8. Paul Durousseau
(Seven women)
9. Mark Goudeau “The
Baseline Killer” (Eight women and a man in 2005-2006)
10. Coral Eugene Watts
(11 women in Texas & 1 in Michigan)
11. Anthony
McKnight (Five girls and young women)
12. Derrick Todd Lee
(8 Women)
13. Charles
Lendelle Carter (4 known murders; admits to ‘hunting’ Atlantans for 15
years!)
14. The Zebra Killings
(71 White people)
15. Chester Turner
(L.A.s most prolific killer 12 women killed.)
16. Lorenzo
J. Gilyard (Kansas City, MO.—13 victims)
17. Eugene
Victor Britt (Gary, IN.–3 known murder/rapes.)
18. Reginald and
Jonathan Carr (The Wichita Massacre–6 Whites murdered)
19. Ray Joseph
Dandridge and his uncle, Ricky Gevon Gray (Richmond, VA.–Murdered 7 people
in 7 days, including an entire White family.)
20. The
Tinley Park Murderer (Suspect hasn’t been found but has been described as black
– murdered 5 women in a store.)
21. Henry Louis
Wallace (Raped and strangled 5 women to death.)
22. Charles
Johnston (Murdered 3 unarmed white men in hospital)
23. Craig Price
(Brutally murdered 3 women)
24. Harrison
Graham (Brually Murdered 3 women)
25. Charles
Lee “Cookie” Thornton (Murdered 6 Whites at the Kirkwood, MO. city council.
)
26. & 27. Darnell
Hartsfeld & Romeo Pinkerton (Abducted and Murdered 5 from a restaurant)
28 &29. John Allen Muhammad & Lee Boyd Malvo (Sniped 11 people from a
car in DC, 9 died.)
30. George Russell (3 women, WA state)
31. Timothy W. Spencer (5 killed, Arlington, VA and Richmond, VA)
32. Elton M. Jackson (12 gay men killed, Norfolk, VA area)
33. Carlton Gary (3 killed in Columbus, GA)
34. Mohammed Adam Omar (16 women, Yemen. Omar is Sudanese.)
35. Kendall Francois (8 women, Poughkeepsie, NY and surrounding areas.)
36. Terry A. Blair (8 women, Kansas City area)
37. Wayne Williams (33 many of them children!, Atlanta, GA)
38. Vaughn Greenwood (11 killed in LA)
39. Andre Crawford (10 killed in Chicago – southside)
40. Calvin Jackson (9 killed possibley more in NY)
41. Gregory Klepper (killed 8, Chicago – southside)
42. Alton Coleman (Killed 8 in the Midwest)
43. Harrison Graham (killed 7+ in N. Philadelphia)
44. Cleophus Prince (6 killed in, San Diego
45. Robert Rozier (7 killed in, Miami)
46. Maurice Byrd (killed 20 + in St. Louis)
47. Maury Travis (17 and rising, St. Louis and possibly also Atlanta)
48. Hulon Mitchell, a.k.a. Yahweh Ben Yahweh (killed 20+ in Florida)
49. Lorenzo Fayne (killed 5 children in East St. Louis, IL)
50. Paul Durousseau, (killed 6, two of which were pregnant women, Jacksonville,
FL; Georgia.)
51. Eddie Lee Mosley (killed 25 to 30 women, south Florida)
52. Henry Lee Jones (killed 4 in, south Florida; Bartlett, TN)
53. Richard “Babyface” Jameswhite (15 killed in, New York; Georgia.)
54. Donald E. Younge, Jr. (killed 4), East St. Louis, IL; Salt Lake City, UT.
55. Ivan Hill
(killed 6 in Los Angeles area).
56. Michael Vernon (Bronx, NY. Killed at least seven people – )
57. Chester Dewayne Turner (12 women killed in, Los Angeles)
ARREST MADE IN LOS ANGELES GRIM SLEEPER SERIAL KILLER CASE July
07, 2010 http://articles.cnn.com/2010-07-07/justice/grim.sleeper.arrest_1_lonnie-david-franklin-serial-killer-case-family-members?_s=PM:CRIME |By
Mallory Simon, CNN ‘Authorities in California said Wednesday they have arrested
a suspect in the Grim Sleeper serial killer case and will charge him with 10
counts of murder.Lonnie David Franklin Jr., 57, faces an additional count of
attempted murder, Capt. Kevin McClure with the Los Angeles Police Department
said.Franklin will arraigned in court Thursday morning, McClure said.The
California Attorney General's office attributed the arrest to DNA collected
from a relative of the suspect, in a controversial and rarely used practice
known as familial DNA search.’
Of
Course There Are Black Serial Killers by Lynette Holloway
on July 15, 2010 The case of the
"Grim Sleeper" inspires a second look at the popular perception that
serial killing is the province of clever white men.
Serial
Murderers' Row July 16, 2010 The
following black men are among the most prolific serial killers in U.S. history.
http://www.theroot.com/multimedia/gallery-meet-6-black-serial-killers Plus: Behind the myth that only white men commit such crimes.
Black Serial Killers Not So Uncommon http://www.amren.com/news/news04/03/03/blackserial.html
200
Involved In Fights At Mall Of America After Rumors That Rappers Are There...
Fox News’ Chris Wallace Has an Anti-Ron Paul Agenda Yahoo! Contributor Network | Andrew Sullivan called for Chris Wallace to recuse himself from the Iowa debate. [ Yes, he should recuse himself; and not just because he’s pro-israeli jewish himself; and we all know how the misguided israeli lobby feels about Ron Paul’s American interests first foreign policy leanings and their excluding him from their sponsored debate. ]
Current
Events Summarized In Brilliant Art George Washington 12/16/2011 A picture is worth
a thousand words [ View archived file: http://www.albertpeia.com/currenteventsinart.htm ]
Wayne
Madsen: Holder’s Fast & Furious was Designed to Destablize Mexican
Government Infowars Nightly News | ‘Wayne Madsen has learned from his
contacts within the Beltway intelligence community that Jared Lee Loughner is
an “MK-ULTRA” programmed assassin and that US District Judge John Roll and
Congresswoman Gabriel Giffords were targetted for assassination.The reason for
the decision to target Judge Roll and Congresswoman Giffords has to do with
their knowledge of the malicious and purposeful arming of Mexican drug gangs
along the US-Mexico border by US intelligence agency assets in an effort
designed to destablize the Mexican government.This towards the end of making
Mexico more dependent on US military aid and protection from its private
security contractors.A key quote from Wayne Madsen’s report follows:
“WMR has been
told that in 2009, information about the CIA/Homeland Security/Napolitano
smuggling operation came to the attention of three individuals, two members of
Congress and a federal judge. The three were Arizona Democratic Representatives
Giffords, Republican Representative Mike Conaway from west Texas, and Judge
Roll. Giffords and Roll were working together on investigating the extent of
the clandestine weapons and druigs smuggling operation and held some joint
meetings with informants, one in north Phoenix, in 2009.Information on the
investigation and informants was strictly limited to only a few trusted
staffers and clerks for Giffords and Roll. In addition, Conaway was also being
briefed by informants on the smuggling operation but since the death of Roll
and the severe mental and physical incapacitation of Giffords from the shooting
carried out by Jared Lee Loughner, said to be an MK-ULTRA-like trained
assassin, he has gone silent in fear for his own safety.Loughner’s was declared
mentally incompetent and there are reports, including one in Slate Magazine,
that the U.S. Medical Center for Federal Prisoners in Springfield, Missouri,
where Loughner is being held, pending a determination of his mental fitness to
stand trial, is being administered psychotropic drugs in his Kool Aid.In
addition to receiving drugs to fund its off-the-books operations, the CIA
weapons smuggling program is designed to arm the two main Mexican cartels —
Sinaloa and Los Zetas — in order to destabilize Mexico.
Israel
stole weapon-grade uranium from US, report will show Daily Star | Report will show
evidence Israel stole weapons-grade uranium from nuclear reprocessing plant in
Pennsylvania. Kristin Dailey December
8, 2011 WASHINGTON: A U.S.-based research institute will soon publish what it
says is “indisputable” evidence that Israel stole weapons-grade uranium for its
still-undeclared atomic weapons program from a nuclear reprocessing plant in
western Pennsylvania. The Institute for Research: Middle Eastern Policy (IRmep)
will release this month a 300-page report detailing the initial findings of a
multi-year research project investigating the disappearance of highly enriched
uranium from the Nuclear Materials and Equipment Corporation (Numec) in Apollo,
Pennsylvania in the 1950s and 1960s. Grant Smith, the director of IRmep, told
The Daily Star that the report would include a broad range of newly
declassified and un-redacted government documents from various agencies –
including the Department of Energy, Atomic Energy Commission, FBI and CIA –
that prove that nuclear material was diverted from Numec to Israel. “The story
at this point is that there is no one smoking gun; there are many smoking
pistols lying all over the place that we’ve painstakingly collected,” Smith
told The Daily Star.’
DHS Shut Down Blog For A Year On False Pretenses Paul
Joseph Watson | Homeland Security is seizing websites for “copyright
infringement” with no evidence. Paul
Joseph Watson Prison Planet.com December 9, 2011
In a chilling illustration of how far
Internet censorship has advanced, the Department of Homeland Security seized a
popular music blog and shut down the website for over a year on charges it now
admits were completely false.
The website in question – www.dajaz1.com – was not some obscure,
dubious blog – it was a popular platform for DJ’s that was once featured on
MTV.
“Around Thanksgiving 2010, the Department
of Homeland Security seized more than 70 domains with no trial, accusing them
of copyright infringement,” reports the San Francisco Chronicle.
Dajaz1.com was caught in the dragnet
after DHS claimed four songs the website
were used without permission, when in fact the musicians and publicists
concerned had sent the tracks directly to Dajaz1 with express authorization.
That didn’t stop Homeland Security from
seizing and shutting down the blog for over a year, violating the law by
refusing to tell its owner why the website was taken and subsequently missing
the 90 day deadline for explaining why the owner should forfeit the property
permanently.
“Or at least that’s what the owner
assumed when he heard nothing. Then the court told him that the government got
an extension.”
“But the owner couldn’t see the extension
because all the filings in the case were sealed, and was not allowed to testify
in court to ask for his property back, says TechDirt.”
The saga finally came to a close when the
owner was handed back control of the website only yesterday.
The lesson to take from this is that
Homeland Security can now just claim your website contains copyrighted material
with no evidence whatsoever and seize it without any recourse.
“This whole thing has been a disgrace by
the US government, starting with a bogus seizure, improper and illegal
censorship, followed by denial of due process and unnecessary secrecy,” reports
TechDirt.
The
DHS has already seized dozens of websites merely for linking to copyrighted
material, despite the fact that such material isn’t even hosted on the website
itself, a process the Electronic Frontier Foundation has criticized as, “Blunt
instruments that cause unacceptable collateral damage to free speech rights.”
The targeted website, now finally back in
the hands of its rightful owner, has become a poster child for the
anti-Internet censorship movement. The front page of the site urges readers to
oppose the Protect IP Act, legislation that will give the government even more
power to block websites by creating an official blacklist.
As
we reported back in October, the bill that has attracted bi-partisan
support in the House will force Internet Service Providers to create a list of
banned websites and prevent their users from accessing the sites, creating a
Chinese-style ‘ban list’ that could easily be abused to silence free speech.
Lawmakers like Senator Joe Lieberman have teamed up with Department of Homeland
Security officials to push draconian legislation in an effort
to mimic the Communist Chinese system of policing the Internet.
“A service provider shall take
technically feasible and reasonable measures designed to prevent access by its
subscribers located within the United States to the foreign infringing site (or
portion thereof) that is subject to the order, including measures designed to
prevent the domain name of the foreign infringing site (or portion thereof)
from resolving to that domain name’s Internet Protocol address,” states the
bill.
Given the fact that the U.S. government
is now ordering
You Tube to remove videos that contain “government criticism,” the
potential for this legislation to be abused to silence political free speech is
clear. Add to that the fact that Verisign, the global authority over all .com
domain names, is demanding
the power to terminate websites deemed “abusive” when ordered to by
government without a court order or any kind of oversight whatsoever, and the
threat to web freedom is clear.’
Donald Trump Dismisses Ron Paul as “Joke Candidate” Kurt Nimmo | Millions of Americans support Paul’s call for
ending foreign aid. [ Yet it’s trump who is the big joke (which makes america
look like a bigger joke)! He’s a caricature at best, and the joke that keeps on
giving (SNL, etc.), and a government-protected mobster. ‘When they’re losing, they can afford to be principled’ says corrupt
mobster trump regarding the snubbing of his ‘less than moderation’ of an
upcoming debate in Iowa by the remaining principled GOP contenders. In reality,
it’s actually ‘when you’re winning, you can afford to be principled’. But, in
trump’s corrupt, sordid, sinkhole habitat, the former is indeed his truth. If
you’re principled, you’re losing in trump’s rather surreal unreality. After
all, pervasively corrupt and unprincipled america is indeed losing; and,
big-time at that. That trump is a megalomaniac, a narcissist, and, yes … a
loser, there is no question. Indeed, anyone who ‘wins’ unfairly (corruption,
etc.) at others expense (ie., as does himself, the frauds on wall street, etc.)
is a loser. Unfortunately, such modus operandi, including that which is criminal,
has been accorded protection and respect in defacto bankrupt america, much like
the ‘protected’ (bribes, etc.) common drug dealer (america, see infra), pimp,
etc.. Then there’s the endearing (to a dumbed down american public) hype! That
cloyingly cutesy ‘the donald’ routine is nauseating; but, that’s the natural,
visible concomitant to a nation in ineluctable decline! On a positive note,
megalomaniac trump will not be able to retread the path of his role model /
idol Adolf Hitler as head of state. He’s really quite a joke when you think
about it; and a mentally ill one at that; ask Steve Wynn, he’ll tell you, he’s
already said it.
‘Pizza with palin’, ‘town
hall of fame with Bachmann’, trump purports to be at least ‘alcohol free’ (the
alleged cause – I don’t think so – of mobster trump’s elder brother’s suicide);
but is he ‘med-free’? … there must be something to account for his madness
(he’s a psychopath who used to play Hitler speeches for inspiration). Ron Paul Slams Trump, Joins Huntsman In Sitting Out
‘Circus-Like’ Debate Business Insider | The reality television
star’s participation is “beneath the office of the Presidency.”
Trump
to moderate GOP debate This won’t end well. (Washington Post) [ Goes
without saying… of all people to choose … Why not Jerry Springer?…
‘Non-celebrity Apprentice’, the new reality show, as in who scratches whose
back for favors down the road, as in quid pro quo, as in trump’s continued
‘graduation’ from commonly mob connected, to new york/new jersey politically
sordid sinkholes, to now failed washingtonian … ‘establishment’? Hasn’t trump’s
rise coincided with the nation’s decline / demise? I’ve seen the corruption
first hand! http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
‘I’m
attracted to young people’: Shocking details in scandal of ‘delusional’
Sandusky Mail Online
| Penn State paedophile Jerry Sandusky’s rabbit hole goes even deeper and
darker than we thought
Romney visits former President George H.W. Bush [ How totally
pathetic! How desperately pathetic romney the flip-flop is! ]
Woman “imprisoned” on Scientology cruise ship for 12 years { Scientology is such a total fraud, and founded by that fraudster/mental case l ron hubbard. In retrospect, fraud/mental infirmity is as american as ‘apple pie and mother-of-hoods’. } ‘...In an interview with the Australian Broadcasting Corporation's (ABC News) Lateline program, Paris claims that Church of Scientology leader David Miscavige sent her to the ship when she was 18 in order to prevent her family from pulling her out of the organization."I was basically hauled in and told that my mum had attacked the church and that I needed to disconnect from her because she was suppressive," she said. "He decided the ship, and I found out two hours before my plane left, I was woken up in the morning and I was sent to the ship for 'two weeks.' "Paris was born into a Scientology family, but her mother quit the group after her husband committed suicide, blaming Scientology for coercing him out of a self-made personal fortune of more than a million dollars.Instead of the promised two week stay, Paris found herself unable to leave the ship without an official Scientology escort and was often forced into hard labor on the lower levels of the ship for stretches as long as two full days. "It's hot, it's extremely loud, it's smelly, it's not nice. I was sent down there at first for 48 hours straight on almost no sleep and I had to work by myself," she said.So, why didn't Paris simply escape from the ship when it would take port? The Freewinds has a relatively small sailing route, traveling throughout the Caribbean and occasionally docking at small islands."I did not want to be there, I made it clear I did not want to be there and that was considered bad ethics, meaning it was considered not right," she said. "They take your passport when you go on the ship and you're in the middle of an island. So it's a bit hard [to escape] and by that time I was 18, I'd been in Scientology my whole life, it's not like I knew how to escape," she said…’
Ten Years Later, Enron Pales in Comparison
Horses could soon be slaughtered for meat in US Horses could soon be butchered in the U.S. for human
consumption after Congress quietly lifted a 5-year-old ban on funding horse
meat inspections, and activists say slaughterhouses could be up and running...{
Another ‘bullish’ sign for pervasively corrupt, defacto bankrupt America.
‘Soylent green’ just around the corner? [Things are looking very, very ominous:
A
good business for a bad economy Firms that keep foreclosed homes clean and
secure are flourishing in these tough financial times. (Washington Post) [ See … there you go …
great times for the american optimist … who sees an opportunity in every calamity,
the rainbow beyond every cloud, the glass half-full, etc.. Whew, close call …
and we thought times were tough … and just when we thought everything’s now
comin’ up roses, we find out that that ‘glue factory’ we thought was for horses
is really a ‘soylent green’ (of the compelling film of the same name) factory.
Ah, just kidding; but, the times are getting eerily sordid and desperate and
there’ll be no real relief from the onslaught of reality prospectively. It’s
really that bad in futuro. 43,454,601,693,238
Reasons Why The World Is Broke – Presenting The Interactive Global Debt Clock Zero Hedge October 17,
2011 http://www.economist.com/content/global_debt_clock Foreigners
Sell Second Largest Amount Of US Bonds Ever In Past Week, Record $93 Billion In
US Paper Sold In Past 2 Months Zero Hedge | Europe, and especially Germany
has been just an active seller of sovereign bonds.] }
30 Signs That The United States Of America Is Being
Turned Into A Giant Prison The American Dream | If you live in the
United States of America, you live in a giant prison where liberty and freedom
are slowly being strangled to death. The
American Dream Tuesday, November 29, 2011 'If you live in the United States
of America, you live in a giant prison where liberty and freedom are slowly
being strangled to death. In this country, the control freaks that run
things are obsessed with watching, tracking, monitoring and recording virtually
everything that we do. Nothing is private anymore. Everything that
you do on the Internet is being monitored. All of your phone calls are
being monitored. In fact, if law enforcement authorities suspect that you
have done something wrong, they will use your cell phone microphone to listen
to you even when you think your cell phone is turned off. In many areas
of the country, when you get into your car automated license plate readers
track you wherever you go, and in many major cities when you are walking on the
streets a vast network of security cameras and “smart street lights” are
constantly watching you and listening to whatever you say. The TSA is
setting up “internal checkpoints” all over the nation, Homeland Security is
encouraging all of us to report any “suspicious activity” that our neighbors
are involved in and the federal government is rapidly developing “pre-crime”
technology that will flag us as “potential terrorists” if we display any signs
of nervousness. If you are flagged as a “potential terrorist”, the U.S.
military can arrest you and detain you for the rest of your life without ever
having to charge you with anything. Yes, the United States of America is
rapidly being turned into a “Big Brother” prison grid, and most Americans are
happily going along with it. The sad thing is that this used to be “the land of
the free and the home of the brave”.So what in the world happened?A fundamental
shift in our culture has taken place. The American people have eagerly
given up huge chunks of liberty and freedom in exchange for vague promises of
increased security.Our country is now run by total control freaks and paranoia
has become standard operating procedure.We were told that the terrorists hate
our liberties and our freedoms, and that we needed to fight the terrorists so
that we could keep our liberties and our freedoms.But instead, the government
keeps taking away all of our liberties and our freedoms.How in the world does
that make any sense?Have the terrorists won?As a country, we have moved so far
in the direction of communist China, the USSR and Nazi Germany that it is
almost impossible to believe.Yes, turning the United States of America into a
giant prison may make us all slightly safer, but what kind of life is this?Do
we want to be dead while we are still alive?Is this the price that we want to
pay in order to feel slightly safer?Where are the millions of Americans that
still yearn to breathe free air?America is supposed to be a land teeming with
people thirsting for independence. For example, “Live Free or Die” is
supposedly the official motto of the state of New Hampshire.But instead, the
motto of most Americans seems to be “live scared and die cowering”.We don’t
have to live like this.Yes, bad things are always going to happen. No
amount of security is ever going to be able to keep us 100% safe.We need to
remember that a very high price was paid for our liberty and we should not give
it up so easily.As one very famous American once said, when we give up liberty
for security we deserve neither.
The following
are 30 signs that the United States of America is being turned into a giant
prison….
#1 A new bill that is going through the U.S. Senate
would allow the U.S. military to arrest American citizens and hold them
indefinitely without trial. This new law was recently discussed in an
article the website of the New American….
In what may be
a tale too bizarre to be believed by millions of Americans, the U.S. Senate
appears ready to pass a bill that will designate the entire earth, including
the United States and its territories, one all-encompassing “battlefield” in
the global “war on terror” and authorize the detention of Americans suspected
of terrorist ties indefinitely and without trial or even charges being filed
that would necessitate a trial.
U.S. Senator Lindsey Graham is a big supporter of the
bill, and he says that it would “basically say in law for the first time that
the homeland is part of the battlefield”.
According to the PPJ Gazette, the following are
three things that this new law would do….
1)
Explicitly authorize the federal government to indefinitely imprison without
charge or trial American
citizens and others
picked up inside
and outside the United States;
(2)
Mandate military detention of some civilians who would otherwise be outside of
military control, including civilians picked up within the United States itself; and
(3)
Transfer to the Department of Defense core prosecutorial, investigative, law
enforcement, penal, and custodial authority and responsibility now held by the
Department of Justice.
#2
U.S. Senator Joe Lieberman is asking Google to install a “terrorist button” on all
Blogger.com blogs so that readers can easily flag “terrorist content” for
authorities.
#3
Most Americans have no idea how sophisticated the “Big Brother” prison grid has
become. For example, in Washington D.C. the movements of every single car
are tracked using automated license plate readers (ALPRs). The following
comes from a recent Washington
Post article….
More than 250
cameras in the District and its suburbs scan license plates in real time,
helping police pinpoint stolen cars and fleeing killers. But the program
quietly has expanded beyond what anyone had imagined even a few years ago.
With virtually
no public debate, police agencies have begun storing the information from the
cameras, building databases that document the travels of millions of vehicles.
Nowhere is that
more prevalent than in the District, which has more than one plate-reader per
square mile, the highest concentration in the nation. Police in the Washington
suburbs have dozens of them as well, and local agencies plan to add many more
in coming months, creating a comprehensive dragnet that will include all the
approaches into the District.
#4
In some American schools, RFID chips are now being used to monitor the
attendance and movements of children while they are at school. The
following is how one article recently described a
program that has just been instituted at a preschool in California….
Upon arriving
in the morning, according to the Associated Press, each student at the
CCC-George Miller preschool will don a jersey with a stitched in RFID chip. As
the kids go about the business of learning, sensors in the school will record
their movements, collecting attendance for both classes and meals. Officials
from the school have claimed they’re only recording information they’re
required to provide while receiving federal funds for their Headstart
program.
#5
Increasingly, incidents of misbehavior at many U.S. schools are being treated
as very serious crimes. For example, when a little girl kissed a little
boy at one Florida elementary school recently, it was considered to be a “possible sex crime” and the
police were called out.
#6
But what happened to one very young student in Stockton, California earlier
this year was even worse….
Earlier this
year, a Stockton student was handcuffed with zip ties on his hands and feet,
forced to go to the hospital for a psychiatric evaluation and was charged with
battery on a police officer. That student was 5 years old.
#7
In the United States today, police are trained to respond to even the smallest
crimes with extreme physical force. For example, one grandfather in
Arizona was recently filmed laying unconscious in a pool of his own blood
after police rammed his head into the flood inside a Wal-Mart on Black Friday
night. It was thought that he was shoplifting, but it turns out that he
says that he was just trying to tuck a video game away so other crazed shoppers
would not grab it out of his hands.
#8
Did you know that the government actually sets up fake cell phone towers that
can intercept your cell phone calls? The following is how a recent Wired articledescribed
these “stingrays”….
You make a call
on your cellphone thinking the only thing standing between you and the
recipient of your call is your carrier’s cellphone tower. In fact, that tower
your phone is connecting to just might be a boobytrap set up by law enforcement
to ensnare your phone signals and maybe even the content of your calls.
So-called
stingrays are one of the new high-tech tools that authorities are using to
track and identify you. The devices, about the size of a suitcase, spoof a
legitimate cellphone tower in order to trick nearby cellphones and other
wireless communication devices into connecting to the tower, as they would to a
real cellphone tower.
The government
maintains that the stingrays don’t violate Fourth Amendment rights, since
Americans don’t have a legitimate expectation of privacy for data sent from
their mobile phones and other wireless devices to a cell tower.
#9
U.S. border agents are allowed by law to search any laptop being
brought into the United States without even needing any reason to do so.
#10
In the United States of America, everyone is a “potential terrorist”.
According to FBI Director Robert Mueller, “homegrown terrorists”
represent as big a threat to American national security as al-Qaeda does.
#11
Most Americans are not that concerned about the Patriot Act, but that might
change if they understood that the federal government has a “secret
interpretation” of what the Patriot Act really means. U.S. Senator Ron
Wyden says that the U.S. government interprets the Patriot Act much more “broadly”
than the general public does….
“We’re getting
to a gap between what the public thinks the law says and what the American
government secretly thinks the law says.”
#12
The FBI is now admittedly recording Internet talk radio programs all over the
United States. The following comes from a recent article by Mark Weaver of WMAL.com….
If you call a
radio talk show and get on the air, you might be recorded by the FBI.
The FBI has awarded
a $524,927 contract to a Virginia company to record as much radio news and talk
programming as it can find on the Internet.
The FBI says it
is not playing big brother by policing the airwaves, but rather seeking access
to what airs as potential evidence.
#13
The federal government has decided that what you and I share with one another
on Facebook and on Twitter could be a threat to national security.
According to a recent Associated
Press article, the Department of Homeland Security will soon be “gleaning
information from sites such as Twitter and Facebook for law enforcement
purposes”.
#14
What you say on your cell phone is never private. The truth is that that the
FBI can demand to see
your cell phone data whenever it wants. In addition, according to CNET News the FBI can remotely activate the
microphone on your cell phone and listen to whatever you are saying….
The FBI appears
to have begun using a novel form of electronic surveillance in criminal
investigations: remotely activating a mobile phone’s microphone and using it to
eavesdrop on nearby conversations.
The technique
is called a “roving bug,” and was approved by top U.S. Department of Justice
officials for use against members of a New York organized crime family who were
wary of conventional surveillance techniques such as tailing a suspect or
wiretapping him.
#15
In some areas of the country, law enforcement authorities are pulling data out of
cell phones for no reason whatsoever. According to the ACLU, state
police in Michigan are now using “extraction devices” to download data from the
cell phones of motorists that they pull over. This is taking place even
if the motorists that are pulled over are not accused of doing anything wrong.
The following is how a recent article on CNET News described the capabilities of these
“extraction devices”….
The devices,
sold by a company called Cellebrite, can download text messages, photos, video,
and even GPS data from most brands of cell phones. The handheld machines have
various interfaces to work with different models and can even bypass security
passwords and access some information.
#16
The federal government has become so paranoid that they have been putting GPS
tracking devices on the vehicles of thousands of people that have not even been
charged with committing any crimes. The following is a short excerpt
from a recent Wired magazine
article about this issue….
The 25-year-old
resident of San Jose, California, says he found the first one about three weeks
ago on his Volvo SUV while visiting his mother in Modesto, about 80 miles
northeast of San Jose. After contacting Wired and allowing a photographer to
snap pictures of the device, it was swapped out and replaced with a second
tracking device. A witness also reported seeing a strange man looking beneath
the vehicle of the young man’s girlfriend while her car was parked at work,
suggesting that a tracking device may have been retrieved from her car.
Then things got
really weird when police showed up during a Wired interview with the man.
The young man,
who asked to be identified only as Greg, is one among an increasing number of
U.S. citizens who are finding themselves tracked with the high-tech devices.
The Justice
Department has said that law enforcement agents employ GPS as a crime-fighting
tool with “great frequency,”and GPS retailers have told
Wired that they’ve sold thousands of the devices to the feds.
#17
New high-tech street lights that are being funded by the federal government and
that are being installed all over the nation can also be used as surveillance
cameras, can be used by the DHS to make “security announcements” and can even
be used to record personal conversations. The following is from a recent
article by Paul Joseph Watson for Infowars.com….
Federally-funded
high-tech street lights now being installed in American cities are not only set
to aid the DHS in making “security announcements” and acting as talking
surveillance cameras, they are also capable of “recording conversations,”
bringing the potential privacy threat posed by ‘Intellistreets’ to a whole new
level.
#18
If you choose to protest in the streets of America today, there is a good
chance that you will be brutalized. All over the United States law
enforcement authorities have been spraying pepper spray directly into the faces of unarmed
protesters in recent weeks.
#19
In many areas of the United States today, you will be arrested if you do not
produce proper identification for the police. In the old days, “your
papers please” was a phrase that was used to use to mock the tyranny of Nazi
Germany. But now all of us are being required to be able to produce “our
papers” for law enforcement authorities at any time. For example, a
21-year-old college student named Samantha Zucker was recently arrested and put
in a New York City jail for 36 hours just because she
could not produce any identification for police.
#20
According to blogger Alexander Higgins, students in kindergarten and the 1st
grade in the state of New Jersey are now required by law to participate “in
monthly anti-terrorism drills”. The following is an excerpt from a letter that he recently
received from the school where his child attends….
Each month a
school must conduct one fire drill and one security drill which may be a
lockdown, bomb threat, evacuation, active shooter, or shelter-in place drill.
All schools are now required by law to implement this procedure.
So who in the world ever decided that it would be a
good idea for 1st grade students to endure “lockdown” and “active shooter”
drills?
To get an idea of what these kinds of drills are
like, just check out this video.
#21
With all of the other problems that we are having all over the nation, you
would think that authorities would not be too concerned about little kids that
are trying to sell cups of lemonade. But sadly, over the past year police
have been sent in to shut down lemonade stands run by children all over the United States.
#22
The federal government has decided to invest a significant amount of time,
money and energy raiding organic farms. The following example comes from Natural News….
It is the
latest case of extreme government food tyranny, and one that is sure to have
you reeling in anger and disgust. Health department officials recently
conducted a raid of Quail Hollow Farm, an organic community supported
agriculture (CSA) farm in southern Nevada, during its special “farm to fork”
picnic dinner put on for guests — and the agent who arrived on the scene
ordered that all the fresh, local produce and pasture-based meat that was
intended for the meal be destroyed with bleach.
#23
It is an absolute disgrace that all of us (including
grandmothers and young children) must either go through body scanners that
reveal the intimate details of our naked bodies or endure “enhanced pat-downs” during
which our genitals will be touched before we are allowed to get on an airplane.
It is also an absolute disgrace that the American
people are putting up with this.
#24
Invasive TSA security techniques are not just for airports anymore. Now,
TSA “VIPR teams” are actively conducting random inspections at bus stations and
on interstate highways all over the United States. For example, the
following comes from a local news report down in Tennessee….
You’re probably
used to seeing TSA’s signature blue uniforms at the airport, but now agents are
hitting the interstates to fight terrorism with Visible Intermodal Prevention
and Response (VIPR).
“Where is a
terrorist more apt to be found? Not these days on an airplane more likely on
the interstate,” said Tennessee Department of Safety & Homeland Security
Commissioner Bill Gibbons.
Tuesday
Tennessee was first to deploy VIPR simultaneously at five weigh stations and
two bus stations across the state.
TSA “VIPR teams” now conduct approximately 8,000
“unannounced security screenings” a year at subway stations, bus terminals,
ports and highway rest stops.
#25
More than a million hotel television sets all over America are now broadcasting
propaganda messages from the Department of Homeland Security promoting the “See
Something, Say Something” campaign. In essence, the federal government
wants all of us to become “informants” and to start spying on one another
constantly. The following comes from an article posted by USA Today….
Starting today,
the welcome screens on 1.2 million hotel television sets in Marriott, Hilton,
Sheraton, Holiday Inn and other hotels in the USA will show a short public
service announcement from DHS. The 15-second spot encourages viewers to be
vigilant and call law enforcement if they witness something suspicious during
their travels.
#26
Certain “types” of American citizens are being labeled as potential threats in
official U.S. government documents. An unclassified Department of
Homeland Security report published a couple years ago entitled “Right-wing
Extremism: Current Economic and Political Climate Fueling Resurgence in
Radicalization and Recruitment” claims that a belief in Bible prophecy
“could motivate extremist individuals and groups to stockpile food, ammunition
and weapons.” The report goes on to state that such people are
potentially dangerous.
#27
Back on February 20, 2009, the State of Missouri issued a report entitled “MIAC
Strategic Report: The Modern Militia Movement“. That report warned
that the following types of people may be potential terrorists….
*anti-abortion activists
*those that are against illegal immigration
*those that consider “the New World Order” to be a
threat
*those that have a negative view of the United
Nations
#28
As I have written about previously, a very disturbing document that Oath Keepers
has obtained shows that the FBI is now instructing store owners to report many
new forms of “suspicious activity” to them. According to the document,
“suspicious activity” now includes the following….
*paying with cash
*missing a hand or fingers
*”strange odors”
*making “extreme religious statements”
*”radical theology”
*purchasing weatherproofed ammunition or match
containers
*purchasing meals ready to eat
*purchasing night vision devices, night flashlights
or gas masks
Do any of those “signs of suspicious activity” apply
to you?
#29
Soon you may get labeled as a “potential terrorist” if you are just feeling a
little nervous. A new “pre-crime” technology system that is currently
being tested by the U.S. Department of Homeland Security will soon be in use
all over the nation. It is called “Future Attribute Screening Technology”
(FAST), and it is very frightening. The following description of this new
program comes from an articlein the London Telegraph….
Using cameras
and sensors the “pre-crime” system measures and tracks changes in a person’s
body movements, the pitch of their voice and the rhythm of their speech.
It also
monitors breathing patterns, eye movements, blink rate and alterations in body
heat, which are used to assess an individual’s likelihood to commit a crime.
The Future
Attribute Screening Technology (FAST) programme is already being tested on a
group of government employees who volunteered to act as guinea pigs.
#30
The truth is that nobody puts more people into prison than America does.
The United States has the highest
incarceration rate in the world and the largest total prison
population on the entire globe.
To read about some of the crazy things that the
control freaks running things have planned for the future, just check out this
article by Natural News: “10
outlandish things the ‘scientific’ controllers have in mind for you in the near
future“.
Once again, despite all of this outrageous
“security”, it is inevitable that a lot of really bad things are going to
happen in the United States in the years ahead.
When there are incidents of violence, it is also
inevitable that there will be calls for even more “Big Brother” security measures.
We are going to be caught in a never ending spiral of
tyranny where the “solution” is always even tighter security.
Eventually, we will have lost all of our liberties
and freedoms, and we will probably be even less safe than we are today.
Do not be deceived. We could put a soldier on
every corner, a video camera in every room of every home and an RFID chip in
every citizen but that would not make us “safe”.
Every single lawmaker that is backing these laws
which strip our liberties and freedoms away deserves to be voted out of office.
If you love the United States of America, please
stand up and say something while you still can.
Please use this article and other articles like it as
tools. Share them with your friends and your family. If we can get
enough people to wake up, perhaps there is still enough time to turn the
direction of this country around.
Will the final chapters of the history of the United
States of America be mentioned in the same breath as communist China, the USSR
and Nazi Germany, or will the final chapters of the history of the United
States of America be the greatest chapters of all?
The choice, America, is up to you.’
Exclusive: CIA Spies Caught, Fear Execution in Middle East
[Well, if there was ever anyone deserving of execution, particularly in the
middle east, it’s cia spies.]
First Lady booed at NASCAR race [Never a previous fan (that
round and round and round– but I do like the flats in horse-racing - Go Big Red
{‘Secretariat’, a terrific film} ), I think I’m going to change my mind in
light of the fans’ display of good taste!]
Pentagon
chief calls India, China ‘threats’ AFP | US Defense Secretary Leon Panetta
referred to India and China as “threats” on Thursday. [ Oh riiiiight! Anything
or anybody that’s not an incompetent, brainless automaton is a ‘threat’ to the
u.s. because in projecting america’s insanity, America sees them deviantly
sitting around plotting ways to wreak havoc and war in the world for the sake
of maintaining their wasteful, nation-draining budgets. What isn’t ‘a threat’
to these mental cases. Certainly the truth is a threat to incompetent dog
panetta, yet it is he and his who are the threat to this nation and the world.
]
Penn State Scandal: Mother of Sandusky's Adopted Son Speaks Out By KEVIN DOLAK | Good Morning America http://gma.yahoo.com/penn-state-scandal-mother-sanduskys-adopted-son-speaks-091457912.html
The
birth mother of Jerry Sandusky's youngest adopted
child has come forward saying she believes
the former Penn State coach led her son on a path of self-destruction and
that she contacted authorities years ago about her son's safety.
Debra Long
told ABC News in an exclusive interview that sharing her now 33-year-old son Matt with Sandusky had been a nightmare after the coach
became the boy's guardian via foster care in 1995. Long says that she watched
as her child became enamored with the local hero and then increasingly
frightened by Sandusky's behavior.
"It was
Jerry Sandusky, you know? Any 10-year-old kid is gonna be impressed by Penn
State football," Long said. "And then it was the gifts. You know,
money and clothing and whatever … It was as if Jerry owned Matthew."
Sandusky entered
the lives of the Longs as a mentor when Matt was 10 years old, via The Second
Mile charity for at-risk youth, which the former Penn State defensive
coordinator founded. When Matt was placed in juvenile hall after he set fire to
a barn in 1995, he soon entered the Sandusky home as a foster child. He was
adopted by Sandusky as an adult at age 18.
Matt Sandusky,
now 33, is not named as one of the 10 victims in the grand jury presentment
outlining the charges against the coach. He insists he was not abused by his
foster father.
But Debra Long
says that the once-welcome Sandusky soon became a source of fear for her son,
as he would take the boy out of school when he was 15 years old, unbeknownst to
her.
"My son
was afraid of Jerry. If Jerry said don't talk, he didn't talk. I would sit back
and watch when Jerry would show up, how excited Matt was," she said.
"And then, as time went on, I would watch the same kid hide behind the
bedroom door and say, 'Mom, tell him I'm not home.'"
Long believes
that exposure to Sandusky was what made her once-quiet son lash out, and
eventually fall into the coach's hands.
"It
wasn't until Jerry came into the picture that Matt started acting out in
school. Matt ended up burning down a barn with another youth, you know -- it
wasn't until Jerry came into the picture … that mentor turned him from the
quiet, good kid into -- what Jerry could use to take him."
Four months
after moving into the Sandusky's home Matt attempted suicide, along with
another girl who was staying in the house, according to a report in the Patriot-News. After the suicide attempt,
Terry L. Trude, a school-based probation officer, wrote a letter to a local
judge asking that Matt's care at the Sandusky home be reviewed.
"The
probation department has some serious concerns about the juvenile's safety and
his current progress in placement with the Sandusky family," Trude wrote.
The adoption
file for Matt Sandusky contains letters from Long to officials and a Centre
County judge expressing concern for her son, who she was allowed to visit only
one-half day per month while he was in Sandusky's care.
Matt Sandusky
– who is one of five boys adopted by Sandusky and his wife -- still supports
Jerry after he was arrested on charges of 40 counts of sexual assault with 10
minor boys over 15 years. Matt even brought his children to visit Sandusky
after his Nov. 5 arrest.
But the mother
of Matt's kids immediately went to court to obtain an order preventing Sandusky
from being alone with her children. By court order Sandusky is now not allowed
unsupervised contact or overnight visits with his grandchildren.
In
the aftermath of Jerry Sandusky's unexpected interview on "Rock
Center" with Bob Costas on Monday night, a number of witnesses are now
ready and willing to testify in court that they were sexually assaulted by the
coach.
A second boy has said that he is now ready to testify
in court, according to Harrisburg attorney Ben Andreozzi, who is representing
the boy. According to Andreozzi , the alleged victim called him after Sandusky
gave the controversial interview on Monday.
"He has decided to dig in his heels. He's not
going anywhere. He fully intends to testify," Andreozzi said.
In a statement issued Wednesday, Andreozzi said
Sandusky "elected to re-victimize these young men at a time when they
should be healing," and said his client was "disappointed" by
Sandusky's comments.
"I think he would like Mr. Sandusky to assume
responsibility for the horrible acts he committed on him," Andreozzi said.
Another boy known to be planning to testify is one
known as "Victim 1" in the indictment; he is the boy who first came
forward to authorities to allege abuse at the hands of Sandusky. The boy has
already told his story to the grand jury and is anxious to tell it again in
open court, according to his mother.
"He wants him to go to jail, and he wants him to
pay for what he's done, and he doesn't want him on the streets where he can
hurt somebody else," the unnamed boy's mother told ABC News.
Meanwhile, The Patriot-News reports that hearing Sandusky's interview
broadcast on national television Monday has triggered more of the coach's
alleged victims to come forward.
"They're literally processing it right in front
of us," attorney Andy Shubin told the Patriot-News. "They have kept
it from their families, moms, brothers and sisters ... The folks we talked to
are largely folks in their 20s, who in a lot of cases have never told their
story before."
Shubin has reportedly teamed up with Andreozzi, and
along with a team of psychologists and social workers they plan to aid the
alleged victims by providing seeking mental help and possible legal recourse. ‘
How
to Protect Ourselves from Radiation
: George Washington : 11/16/2011 - Self-Help: How
to Protect Ourselves Against Damage from Radiation
Penn State
coach says he stopped shower assault... ‘…McQueary was placed on administrative leave last
week after Penn State officials said he had received threats.According to the
grand jury report, the graduate assistant said he saw a boy, whose age he
estimated at 10 years old, "being subjected to anal intercourse" by a
naked Sandusky in a shower at the Penn State football building in March 2002.
The graduate assistant left "immediately," was "distraught"
and called his father, according to the presentment. His father told him to
leave the building and come to his home, according to the presentment.In the
email obtained by The Morning Call, dated Nov. 8, McQueary said "I did
stop it, not physically, but made sure it was stopped when I left that locker
room.""No one can imagine my thoughts or wants to be in my shoes for
those 30-45 seconds," McQueary wrote. "Trust me."Asked about
McQueary's statement in the email that he had discussions with police, Penn
State police told The Morning Call they were deferring to the university public
relations office, which did not return a call Tuesday afternoon. Pennsylvania
State Police in Harrisburg, which is heading the
investigation, did not return a call.McQueary has not spoken publicly and
declined to be interviewed by The Morning Call…’
Defense
chief warns on Iran strike consequences Reuters | Military
action against Iran could have “unintended consequences” in the region.
Putin
defends bid for president [ Let me add my voice to his own in defending
Putin’s bid for the Russian Presidency! Another time, another place, maybe,
just maybe, such criticism might, just might be at the most, okay, even if
unwarranted. Yet, in this global worst of times scenario, Russia and the world
need a strong leader to ‘push back’ the irrationality and desperate
‘misadventurism’ (wars, contrived conflict, raping, pillaging, and plundering
by war crimes nations america/israel along with the foolishly complicit,
self-destructively pliant european bobbleheads, et als.) and continue the
rationality and strength that has always seen the great nation of Russia
through the hardest of times. From a purely Russian perspective, the Russian
people must ask themselves who is the Russian leader pervasively corrupt, defacto
bankrupt, fallen, desperate war crimes nation in intractable decline
america/israel would least be inclined to want to see in office (don’t forget
former ‘american partners’ sadam hussein, momar ghadafi, etc.). The question
answers itself. Rationality will indeed prevail in the great nation state of
Russia. Congratulations President Putin!
]
http://www.ynetnews.com/PicServer2/13062011/3550874/Untitled-1_wa.jpg
Arret sur Images (Screenshot)
The conversation then drifted to
Netanyahu, at which time Sarkozy declared: "I cannot stand him. He is a
liar." According to the report, Obama replied: "You're fed up with
him, but I have to deal with him every day!" The remark was naturally
meant to be said in confidence, but the two leaders' microphones were
accidently left on, making the would-be private comment embarrassingly public.
The communication faux pas went unnoticed for several minutes, during which the
conversation between the two heads of state – which quickly reverted to other
matters – was all but open to members the press, who were still in possession
of headsets provided by the Elysée for the sake of simultaneous translation
during the G20 press conference."By the time the (media) services at the
Elysée realize it, it was on for at least three minutes," one journalist
told the website. Still, he said that reporters "did not have a chance to
take advantage of this fluke."The surprising lack of coverage may be
explained by a report alleging that reporters present at the event were
requested to sign an agreement to keep mum on the subject of the embarrassing
comments. A member of the media confirmed Monday that "there were
discussions between journalists and they agreed not to publish the comments due
to the sensitivity of the issue." He added that while it was annoying to
have to refrain from publishing the information, the journalists are subject to
precise rules of conduct.’
No
smoking gun: IAEA Iranian nuclear report falls flat on its face Patrick Henningsen | The IAEA report
has come up short, but the Axis powers are still desperate to hit Iran
Fourth accuser urges Herman Cain to ‘come clean’ about harassment - A fourth woman has accused Republican
presidential candidate Herman Cain of sexual harassment--this time in public.
Sharon Bialek told reporters in a press conference Monday that Cain groped her
and e...
Good and evil
doesn’t have a grey zone. Killing and stealing is bad. Violence is
never “good” or necessary unless it is used to defend against killers and
thieves. Indeed, that is the morality behind the “just war” principle as defined
by international laws and treaties.
Yet, this
simple concept of right and wrong gets muddled by differing ideas about
religion, patriotism, economics and many other divisions. The “just war”
rule has crumbled under the ambitions of empires throughout history. The
American-led Anglo Saxon empire is no different.
This empire
has been brutally conquering and colonizing territory since the fall of Rome.
However, it has only gained an American face in the last century.
The United States quickly emerged as the world’s “superpower” primarily
through its economic might. For some time, many believed the U.S. to be a
shining example of economic freedom for other nations to emulate. Indeed,
America was eager to promote “economic freedom” globally to open new markets
for U.S.-based corporations.
When foreign
leaders refused to allow these corporate interests into their country, those
leaders were replaced through a variety of covert actions. The form of
government that would be installed did not matter to the empire makers so long
as the corporate interests were served. In most cases these nations
simply surrendered to the seemingly unlimited power of the almighty dollar,
thus camouflaging the traditional method of forceful empire building.
However, some
nations, especially in the last two decades, remained stubborn and have refused
to alter their banking systems while also shunning Western companies.
Despite the empire’s best efforts to diplomatically bribe or sanction
them into submission, they ultimately required an iron military fist to force
their compliance. Until recently, military action remained the last
resort. But now, preemptive military action seems to have become the
preferred, and perhaps necessary, method to conquer the last resource-rich nations
out of their grasp.
The empire’s
populations cheered this strategy out of fear of being attacked by these rogue
nations who never attacked or even threatened to attack them. In the fog
of fear, killing and stealing became acceptable. In fact, detention
without charges and even torture became acceptable in the former capital
of freedom. America has determined that the means justifies the end — which is
more power.
As with
all empires, these “means” have become increasingly violent and destructive in
the face of resistance. Yet, only a few more dominoes are left to knock
over for America to complete a plan set in motion well before they were one of
the colonies. That is unless, of course, other world powers break ranks
and attempt to stop the conquerors, which could lead to a large scale conflict.
Regardless, when the dust settles and moral history
is written, America and her Western cohorts will likely be viewed as the most
brutal empire in history. Here are ten reasons why this is already the
case:
http://4.bp.blogspot.com/-ziW0uRVXDeM/Trdbyofg0wI/AAAAAAAAMO4/aHNh5p76jQE/s200/rumsfeld+saddam.jpg
#1. Support of Dictators:
For all the happy talk of spreading Democracy and protecting human rights, the
empire has repeatedly not only supported dictators, but in many cases overthrew
popularly elected leaders and replaced them with puppet tyrants. Examples
range from secretly
funding the Nazis, to installing
the Shah in Iran, Pinochet in Chile, supporting Musharraf in
Pakistan, and their everlasting love affair with the brutal Saudi royal family,
to name a few. Actions speak louder than words to those who can navigate
the storm of propaganda with a moral compass set to recognize good from evil.
Dictators and freedom cannot coexist.
#2. Preemptive Wars of Aggression:
It could be said that all wars are preemptive in nature because
so many entities benefit from war. Yet, even before America’s latest
crusades, they covertly and surgically attacked countries that never threatened
them. This allowed them to maintain the moral high road in the public’s
eye while constructing the foundation of their empire. That was until
the Bush Doctrine; the
use of preemptive military action to confront possible threats was unofficially
adopted to be the new foreign policy for combating terror. Since then,
America has become the violent aggressors, having officially invaded two
countries — Afghanistan and Iraq — without legitimate provocation.
Violent aggressors have always been judged by history as evil. But it gets
worse….
#3. Torture:
Torture has never been acceptable by those promoting a high moral standing in
the global community. Nazis and Japanese
soldiers were convicted and executed for engaging in the exact same torture
techniques that America has redefined as ‘enhanced interrogation’.
“I was just following orders,” was not a justifiable excuse for such inhumane
behavior, much like it wasn’t a good enough defense for the low-ranking patsies
who took the heat for the sinister Abu Ghraib
torture scandal even though their actions were approved
at the highest levels. Can state-sanctioned torture of prisoners held
without charges ever be viewed as anything less than brutal?
http://1.bp.blogspot.com/-KxpFlJBhceI/TrdWSTR6itI/AAAAAAAAMOQ/OEHWeOqQW0g/s200/dees+activists.jpg
#4. Suppression
of Dissent: All tyrannical regimes throughout history have suppressed
homeland dissent. As government oppression grows bolder at home and
abroad, more citizens will naturally express outrage, resulting in even more
oppressive controls. This is happening in the United States through the
all-seeing eye of the Department of Homeland Security with warrantless
spying, arbitrary watch lists, citizen
spy campaigns, and TSA molestation to travel anywhere. Additionally,
in an attempt to squash free speech, they arbitrarily seize websites and
violently confront peaceful protesters. Unfortunately, as awareness of
the topics in this very article expands, the U.S. will likely become even
bolder in their pursuit of stifling dissent. In other words, the worst is
yet to come, and history will judge the U.S. as not quite the beacon of freedom
they have pretended to be.
#5. Elimination
of Habeas Corpus: Say goodbye to the notion of being innocent
until proven guilty, the right to face charges and your accuser, and the right
to a free and fair trial. Habeas corpus, considered
the only humane path to “which a prisoner can be released from unlawful
detention,” has been eliminated for those vaguely labeled ‘enemy combatants’ of
the empire. As Guantanamo prisoners rot under such pretenses, prominent
lawmakers in the empire propose the exact same lack of rights for American
citizens if they’re labeled an ‘enemy
belligerent‘. Similar to the Spanish Inquisition,
now you’re guilty until you’re tortured to admit your guilt. Can it get
more evil? Why yes, it can. Read on.
#6. Assassinating
Citizens: That’s right. No judge, no jury, no conviction;
just straight to execution. America has set another precedent in their
tyrannical march toward empire when they openly assassinated an American
citizen and government
patsy, Anwar al-Awlaki, and his teenage son on the suspicion of terrorism.
Paul Craig Roberts laments “Now the
US government not only can seize a US citizen and confine him in prison for the
rest of his life without ever presenting evidence and obtaining a conviction,
but also can have him shot down in the street or blown up by a drone.”
Isn’t this the reason America claims to be knocking off dictators around
the world — the deliberate killing of their own citizens?
But Awlaki was a bad apple because the intelligence
community said so. What’s most telling that America will continue this
wickedness is that almost every US lawmaker turned a blind eye to the grotesque
violation of Constitutional rights. Only Ron Paul
said that assassinating an American citizen without charges is nothing less
than an “impeachable offense”. Too bad most of the country cheered the
Awlaki killing as a “victory” in the war on terror, indicating that it is now
an acceptable tactic. Americans beware: you may be moved from a secret
watch list to a secret kill list in this brutal empire.
http://1.bp.blogspot.com/-YQecA6AdJLQ/Trdc3ax5PnI/AAAAAAAAMPA/svo3xXohd7s/s200/dees+libya.jpg
#7. Unauthorized
Drone Wars: Unprovoked wars without authorization,
accountability, or independent oversight only seem to be escalating; and with
little resistance. The US Congress no longer votes to “declare war”.
They simply give the Commander in Chief broad “authorization” to use
force against specific nations. However, even that is not broad enough in the
rapid pursuit of empire. Now, joystick warriors directed by the CIA and
Pentagon have targeted at least three countries with “unauthorized” military
strikes; Pakistan,
Yemen, and Somalia. Even worse, they waged a full-scale war for regime
change and resource plundering in Libya without any authority inside the
United States. Under the NATO flag, which is 75%
funded by the U.S., they flew over 9200
strike sorties in Libya to illegally topple Gaddafi. Drunk with
success, the bloodthirsty empire marches on to their next preemptive targets,
Syria and Iran. Quick morality check: unprovoked killing and stealing as
a first resort is still wrong, right?
#8. Use
of Weapons of Mass Destruction: How ironic that the world’s
policeman for weapons of mass destruction is the only one to use them on a mass
scale. The United States is on record using chemical, biological and even
nuclear weapons. From the atomic bombs dropped on Hiroshima
and Nagasaki in WWII, to Monsanto’s Agent
Orange in Vietnam, to the depleted
uranium used in Afghanistan and Iraq, America only condemns itself when
speaking about the evils of WMDs. However, killers don’t appear to care how the
killing is accomplished, so long as it achieves their goals. The real
firecrackers will likely be brought out in a confrontation with Iran, or if
China and Russia are lured into the conflict. It won’t really matter much
what history says if the use of WMD escalates by either side, but the
aggressors should rightly be blamed for the ensuing scorched earth, while the
defenders against killers and thieves should be viewed as righteous.
#9. World’s Largest
Drug Dealer: The American empire is the largest drug dealer in
the world? Say it isn’t so. Well, in addition to forcing legal drugs
and genetically
modified organisms on nations, usually under the cover of foreign aid,
America also leads in the illegal drug trade. In fact, many researchers
reveal that the war on drugs is only utilized to control and monopolize
the illicit drug trade. The US government has been caught multiple
times shipping in
cocaine, colluding
with certain cartels to control the industry, and now openly protects and transports opium
from Afghanistan. In fact, Global Research points
out that in 2001, “according to UN figures, opium production had fallen to
185 tons. Immediately following the October 2001 US led invasion, production
increased dramatically, regaining its historical levels.” This month,
the U.N.
announced that Afghanistan now provides 93%
of the world’s opium production; up 61% compared to 2010 to a
whopping 5800 tonnes. Although the empire tries to keep it secret,
they can’t hide the hypocrisy forever.
http://3.bp.blogspot.com/-uY_ZP5f24y8/TrdZ3Bs9HhI/AAAAAAAAMOo/FgB0_Ri48LU/s1600/pyramid.jpg
#10. World
Reserve Currency Prison: Although using Weapons of Mass
Debt is a non-violent form of expanding the empire, it’s perhaps the most
brutal and effective form of control. Requiring foreign nations to
purchase oil and other imported commodities with US dollars wields immense
power. Because all nations must acquire dollars to purchase critical
resources, they quickly become indebted to the US Federal Reserve, their
affiliate central banks, and the IMF. Before long, the entire world is
colonized by debt. It seems that only the nations that don’t need or
refuse credit from Western banking institutions are the ones in danger of
facing the wrath of the imperial war machine. Incidentally, most oil-rich
nations in the Middle East have outlawed usury (lending money with
interest), making them impossible to conquer
diplomatically through debt. Controlling the world reserve currency
means controlling the tap of life itself, which is a dangerous weapon in the
hands of an aggressive empire. Debt is the ultimate WMD the empire uses
to enslave the world, which leaves dissidents with two clear choices: slavery
or death.
Although this empire is infinitely more powerful than
Rome was, it will suffer the same fate. For every negative action the
empire commits, there’s an equal and opposite good reaction. And the goodness
of humanity will always defeat tyranny when it goes too far. However, an
empire with so much to lose will go down swinging and slinging every weapon in
its arsenal, thus putting the final stamp on their status as most brutal empire
in history.’
Extreme Poverty Is Now At Record Levels – 19 Statistics
About The Poor That Will Absolutely Astound You According to the U.S. Census Bureau, a higher
percentage of Americans is living in extreme poverty than they have ever measured
before. The
Economic Collapse November 5, 2011
According to
the U.S. Census Bureau, a higher percentage of Americans is living in extreme
poverty than they have ever measured before. In 2010, we were told that
the economy was recovering, but the truth is that the number of the “very poor”
soared to heights never seen previously. Back in 1993 and back in 2009,
the rate of extreme poverty was just over 6 percent, and that represented the
worst numbers on record. But in 2010, the rate of extreme poverty hit a
whopping 6.7 percent. That means that one out of every 15 Americans is now
considered to be “very poor”. For many people, this is all very confusing
because their guts are telling them that things are getting worse and yet the
mainstream media keeps telling them that everything is just fine.
Hopefully this article will help people realize that the plight of the poorest
of the poor continues to deteriorate all across the United States. In
addition, hopefully this article will inspire many of you to lend a hand to
those that are truly in need.
Tonight, there
are more than 20 million Americans that are living in extreme poverty.
This number increases a little bit more every single day. The following
statistics that were mentioned in an article in The Daily Mail should be very
sobering for all of us….
About 20.5
million Americans, or 6.7 percent of the U.S. population, make up the poorest
poor, defined as those at 50 per cent or less of the official poverty level.
Those living in
deep poverty represent nearly half of the 46.2 million people scraping by below
the poverty line. In 2010, the poorest poor meant an income of $5,570 or less
for an individual and $11,157 for a family of four.
That 6.7
percent share is the highest in the 35 years that the Census Bureau has
maintained such records, surpassing previous highs in 2009 and 1993 of just
over 6 percent.
Sadly, the wealthy and the poor are being increasingly
segregated all over the nation. In some areas of the U.S. you would never
even know that the economy was having trouble, and other areas resemble third
world hellholes. In most U.S. cities today, there are the
“good neighborhoods” and there are the “bad neighborhoods”.
According to a recent Bloomberg article, the “very
poor” are increasingly being pushed into these “bad neighborhoods”….
At least 2.2
million more Americans, a 33 percent jump since 2000, live in neighborhoods
where the poverty rate is 40 percent or higher, according to a study released
today by the Washington-based Brookings Institution.
Of course they don’t have much of a choice.
They can’t afford to live where most of the rest of us do.
Today, there are many Americans that openly look down on the poor, but that
should never be the case. We should love the poor and want to see them
lifted up to a better place. The truth is that with a few bad breaks any
of us could end up in the ranks of the poor. Compassion is a virtue that
all of us should seek to develop.
Not only that,
but the less poor people and the less unemployed people we have, the better it
is for our economy. When as many people as possible in a nation are
working and doing something economically productive, that maximizes the level
of true wealth that a nation is creating.
But today we
are losing out on a massive amount of wealth. We have tens of millions of
people that are sitting at home on their couches. Instead of creating
something of economic value, the rest of us have to support them
financially. That is not what any of us should want.
It is
absolutely imperative that we get as many Americans back to work as
possible. The more people that are doing something economically
productive, the more wealth there will be for all of us.
That is why it
is so alarming that the ranks of the “very poor” are increasing so
dramatically. When the number of poor people goes up, the entire society
suffers.
So just how
bad are things right now?
The following
are 19 statistics about the poor that will absolutely astound you….
#1 According to the U.S. Census Bureau, the percentage
of “very poor” rose in 300 out of the 360 largest metropolitan
areas during 2010.
#2 Last year, 2.6 million more Americans descended into poverty. That was
the largest increase that we have seen
since the U.S. government began keeping statistics on this back in 1959.
#3 It isn’t just the ranks of the “very poor” that are
rising. The number of those just considered to be “poor” is rapidly
increasing as well. Back in the year 2000, 11.3% of all Americans were living in
poverty. Today, 15.1% of all Americans are living in poverty.
#4 The poverty rate for children living in the United States
increased to 22% in 2010.
#5 There are 314 counties in the United States
where at least 30% of the
children are facing food insecurity.
#6 In Washington D.C., the “child food insecurity rate”
is 32.3%.
#7 More than 20 million U.S. children rely on
school meal programs to keep from going hungry.
#8 One out of every six elderly
Americans now lives below the federal poverty line.
#9 Today, there are over 45 million Americans on food stamps.
#10 According to the Wall Street Journal, nearly 15 percent of all
Americans are now on food stamps.
#11 In 2010, 42 percent of all single mothers in the
United States were on food stamps.
#12 The number of Americans on food stamps has increased 74% since 2007.
#13 We are told that the economy is recovering, but the
number of Americans on food stamps has grown by another 8 percent over the past year.
#14 Right now, one out of every four American children is on
food stamps.
#15 It is being projected that approximately 50 percent
of all U.S. children will be on food stamps at some point in their lives before
they reach the age of 18.
#16 More than 50 million Americans are now on
Medicaid. Back in 1965, only one out of every 50 Americans was on
Medicaid. Today, approximately one out of every 6
Americans is on Medicaid.
#17 One out of every six Americans is now enrolled in at least onegovernment
anti-poverty program.
#18 The number of Americans that are going to food
pantries and soup kitchens has increased by 46% since 2006.
#19 It is estimated that up to half a million children may
currently be homeless in the United States.
Sadly, we
don’t hear much about this on the nightly news, do we?
This is
because the mainstream media is very tightly controlled.
I came across
a beautiful illustration of this recently. If you do not believe that the
news in America is scripted, just watch this video starting at the 1:15
mark. Conan O’Brien does a beautiful job of demonstrating how news anchors
all over the United States are often repeating the exact same words.
So don’t rely
on the mainstream media to tell you everything.
In this day
and age, it is absolutely imperative that we all think for ourselves.
It is also
absolutely imperative that we have compassion on our brothers and sisters.
Winter is
coming up, and if you see someone that does not have a coat, don’t be afraid to
offer to give them one.
All over the
United States (and all around the world), there are orphans that are
desperately hurting. As you celebrate the good things that you have
during this time of the year, don’t forget to remember them.
We should not
expect that “the government” will take care of everyone that is hurting.
The reality is
that millions of people fall through the “safety net”.
Being generous
and being compassionate are qualities that all of us should have.
Yes, times are
going to get harder and an economic collapse is coming.
That just
means that we should be more generous and more compassionate than we have ever
been before.’
Blagojevich calls feds 'cowards and liars'…[Yes. This is a rare
moment for one to say that a sleazy hypocrite like blago, who is on corrupt
federale-connected mobster trump’s celebrity apprentice, happens to be correct
based upon facts / reality and my own direct observation and experience and the
law – Don’t forget to include corrupt federal judges as maryanne trump barry,
sam alito, shiff, matz, hall, underhill, dorsey, etc.. Defacto bankrupt
america’s so-called system is pervasively corrupt and broken] (AP)
[Abolish the corrupt, costly, economically wasteful
lifetime extravagantly appointed federal courts - see RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
Sheriff: Fast and Furious Bigger Scandal Than Watergate http://www.prisonplanet.com/sheriff-fast-and-furious-bigger-scandal-than-watergate.html Paul Joseph Watson | Over two dozen
Republicans call for Holder to resign. Though heavily redacted, the documents directly
discuss “Operation Fast and Furious” and how it involves “trafficking
firearms to Mexico”. Tuesday, November 1, 2011
Pinal County
Sheriff Paul Babeu joined over two dozen Republican lawmakers in calling on
Attorney General Eric Holder’s to resign over Operation Fast and Furious, the
gunrunning program that saw the ATF deliver some 2,000 guns directly into the
hands of Mexican drug gangs, labeling the scandal worse than the Watergate
cover-up that brought down the Nixon White House.
Noting that
two of the guns involved in the program were found at the scene where U.S.
Border Patrol agent Brian Terry was shot to death, Babeu warned that if Holder
attempted to stay in power, he could bring down the entire Obama
administration.
“I thought it
was a telling sign when President Obama embraced him and gave him the Al Capone
hug and the Scarface whisper in the ear that I support you. He did this
publicly. I thought, `Wow, this is his last hours here, that he’s on his way
out,” Babeu told KTAR News.
Holder is set
to testify once more on the subject in front of a Democratic-led Senate
committee on November 8.
By no means
for the first time, if Eric Holder repeats his dubious contention that Fast and
Furious only came to his attention when it became public knowledge, he will be
knowingly committing perjury.
The head of
the Justice Department’s criminal division, Lanny A. Breuer, Holder’s
subordinate who first
learned of Fast and Furious in April 2010, sent Holder briefings concerning
Fast and Furious in July 2010, almost a year before Holder told a Judiciary
Committee hearing, “I’m not sure of the exact date, but I probably heard about
Fast and Furious for the first time over the last few weeks.”
Holder also
received the same briefing from the head of the National Drug Intelligence
Center, internal
DOJ documents obtained by CBS News show.
“Internal
Justice Department documents show that at least ten months before that hearing,
Holder began receiving frequent memos discussing Fast and Furious,” states the
report.
The CBS News
journalist behind the scoop, Sharyl Attkisson, was
subjected to verbal abuse by the White House merely for asking questions
about the controversy, and was warned not to pursue the story.
In addition, Holder himself gave testimony
to Congress in May 2009 in which he spoke of efforts on behalf of the DOJ
and the DHS to track weapons going from the U.S. into Mexico under Project
Gunrunner, which was the umbrella program for subsequent operations like Fast
and Furious.
It now appears
as though Breuer is attempting to throw himself under the bus in an attempt to
take the heat off his boss and be the fall guy for Fast and Furious.
Over
two dozen Republican lawmakers have called for Holder to resign over his
stonewalling on Fast and Furious, which is the subject of a congressional
probe.
As
we highlighted last week, Holder is not alone in his willingness to risk
charges of perjury by lying in front of elected representatives.
Despite
telling a House Judiciary Committee that she only learned of operation Fast and
Furious in December last year when the controversy went public, Homeland
Security chief Janet Napolitano actually helped launch the previous incarnation
of the program, Project Gunrunner, at a White House press conference in March
2009.
“Napolitano,
at one point likening the questioning to a cross-examination, said repeatedly
she only learned of “Fast and Furious” after Border Patrol Agent Brian Terry
was killed in December,” reported
Fox News. “She emphasized the operation, conceived and run by the Bureau of
Alcohol, Tobacco, Firearms and Explosives, “was an ATF operation,” under the
auspices of the Justice Department, not her department.”
However, as
the video below illustrates, not only was Napolitano aware of the ATF program
to put guns into the hands of Mexican drug lords, she actually helped launch
the previous incarnation of it, Project Gunrunner, at a White House press
conference alongside Deputy Attorney General David Ogden in March 2009.’
http://www.youtube.com/watch?feature=player_embedded&v=-F_1Sya42yA
U.S.
Boots on the Ground in Libya, Pentagon Confirms Fox News | Despite assurances
otherwise, four U.S. service members arrived on the ground in Tripoli.
Afghanistan to back Pakistan if wars with U.S.: Karzai - ISLAMABAD (Reuters) - Afghanistan would
support Pakistan in case of military conflict between Pakistan and the United
States, Afghan President Hamid Karzai said in an interview to a private
Pakistani ..
GAO
Report: Federal Reserve Is Riddled With Corruption And Conflicts Of Interest
Daily Bail | New audit
of the Federal Reserve details huge conflicts of interest involving directors
of regional Fed banks
FBI
Announces Gangs Have Infiltrated Every Branch Of Military Business Insider | Report says
military has seen members from 53 gangs and 100 regions in U.S. enlist in every
branch of armed forces.
The
Military Industrial Complex at 50: Activism Ray McGovern | Ray McGovern on Activism and the Military
Industrial Complex.
BOOK WARNS OF END...
BOOK WARNS OF END
Fri Oct 14 2011 07:00:25 ET
**Exclusive**
"As the faith that gave birth to the West is dying in
the West, peoples of European descent from the steppes of Russia to the coast
of California have begun to die out, as the Third World treks north to claim
the estate. The last decade provided corroborating if not conclusive proof that
we are in the Indian Summer of our civilization."
So begins Pat Buchanan in his hardcore work, SUICIDE OF A
SUPERPOWER.
"Will America Survive to 2025?"
Buchanan, set for maximum controversy, launches all rockets
at introduction "Disintegrating Nation" -- and does not let up for
400-plus pages.
"America is disintegrating. The centrifugal forces
pulling us apart are growing inexorably. What unites us is dissolving. And this
is true of Western Civilization....Meanwhile, the state is failing in its most
fundamental duties. It is no longer able to defend our borders, balance our
budgets, or win our wars."
The books reads as if its been written to be left behind in
the ruins, only to be found by a future civilization.
SUICIDE
ranked #2,668 on AMAZON's hit parade early Friday. It streets on
Tuesday.
Now only the DRUDGE REPORT can offer a look inside.
Chapter 1: The Passing of a Superpower
“We have accepted today the existence in perpetuity of a
permanent underclass of scores of millions who cannot cope and must be carried
by society -- fed, clothed, housed, tutored, medicated at taxpayer’s expense
their entire lives. We have a dependent nation the size of Spain in our
independent America. We have a new division in our country, those who pay a
double or triple fare, and those who ride forever free.”
Chapter 2. The End of Christian America
If [Christopher] Dawson is correct, the drive to
de-Christianize America, to purge Christianity from the public square, public
schools and public life, will prove culturally and socially suicidal for the
nation.
“The last consequence of a dying Christianity is a dying
people. Not one post-Christian nation has a birth rate sufficient to keep it
alive....The death of European Christianity means the disappearance of the
European tribe, a prospect visible in the demographic statistics of every
Western nation.”
Chapter 3. The Crisis of Catholicism
“Half a century on, the disaster is manifest. The robust
and confident Church of 1958 no longer exists. Catholic colleges and
universities remain Catholic in name only. Parochial schools and high schools
are closing as rapidly as they opened in the 1950s. The numbers of nuns,
priests and seminarians have fallen dramatically. Mass attendance is a third of
what it was. From the former Speaker of the House to the Vice President,
Catholic politicians openly support abortion on demand.”
“How can Notre Dame credibly teach that all innocent life
is sacred, and then honor a president committed to ensuring that a woman’s
right to end the life of her innocent child remains sacrosanct?”
Chapter 4. The End of White America
“[W]hite America is an endangered species. By 2020, whites
over 65 will out-number those 17 and under. Deaths will exceed births. The
white population will begin to shrink and, should present birth rates persist,
slowly disappear.”
“Mexico is moving north. Ethnically, linguistically and
culturally, the verdict of 1848 is being over-turned. Will this Mexican nation
within a nation advance the goals of the Constitution -- to “insure domestic
tranquility” and ‘make us a more perfect union’? Or have we imperiled our
union?” (Page 134)
Chapter 5. Demographic Winter
“Peoples of European descent are not only in a relative but
a real decline. They are aging, dying, disappearing. This is the existential
crisis of the West.” (Page 166)
“Not any Iranian weapon of mass destruction but demography
is the existential crisis Israel faces....By mid-century...Palestinians west of
the Jordan river will out-number Jews 2-1. Add Palestinians in Jordan, it is
3-1.”
“In a startling development of history, Russia’s population
has fallen from 148 million in 1991 to 140 million today and is projected to
plunge to 116 million by 2050, a loss of 32 million Russians in six decades.”
Chapter 6. Equality Vs. Freedom
“Those who would change society begin by changing the
meaning of words. At Howard University, LBJ changed the meaning of equality
from the attainable -- an end to segregation and a legislated equality of
rights for African-Americans -- to the impossible: a socialist utopia.”
“Where equality is enthroned, freedom is extinguished. The
rise of the egalitarian society means the death of the free society.”
“A time for truth. As most kids do not have the athletic
ability to play high school sports, or the musical ability to play in the band,
or the verbal ability to excel in debate, not every child has the academic
ability to do high school work. No two children are created equal, not even
identical twins. The family is the incubator of inequality and God its author.”
Chapter 7. The Diversity Cult
“The non-Europeanization of America is heartening news of
an almost transcendental quality,” Wattenberg trilled.4 Yet, one wonders: What
kind of man looks with transcendental joy to a day when the people among whom
he was raised have become a minority in a nation where the majority rules?”
“Historians will look back in stupor at 20th and 21st
century Americans who believed the magnificent republic they inherited would be
enriched by bringing in scores of millions from the failed states of the Third
World.”
Chapter 8: The Triumph Of Tribalism
America’s war of revenge against Japan was a race war.
Newsreels, movies, magazines, comic books, headlines treated “Japs” as a
repulsive race whose extermination would benefit mankind....Only well after the
war was over was it re-branded a war to bring the blessings of democracy
to...Japan.
We may deny the existence of ethnonationalism, detest it,
condemn it. But this creator and destroyer of empires and nations is a force
infinitely more powerful than globalism, for it engages the heart. Men will die
for it. Religion, race, culture and tribe are the four horsemen of the coming
apocalypse.
Chapter 9. ‘The White Party’
“Through its support of mass immigration, its paralysis in
power to prevent 12-20 million illegal aliens from entering and staying, its
failure to address the “anchor-baby” issue, the Republican Party has birthed a
new electorate that will send it the way of the Whigs.”
Chapter 10: The Long Retreat
“We borrow from Europe to defend Europe. We borrow from the
Gulf states to defend the Gulf states. We borrow from Japan to defend Japan. Is
it not a symptom of senility to be borrowing from the world so we can defend
the world?”
“Are vital U.S. interests more imperiled by what happens in
Iraq where were have 50,000 troops, or Afghanistan where we have 100,000, or
South Korea where we have 28,000 -- or by what is happening on our border with
Mexico?...What does it profit America if we save Anbar and lose Arizona?”
Chapter 11: The Last Chance
“We are trying to create a nation that has never before
existed, of all the races, tribes, cultures and creeds of Earth, where all are
equal. In this utopian drive for the perfect society of our dreams we are
killing the real country we inherited..’
SHRINK: Obama suffers from 'father hunger'... ‘The abandonment by his father when he was an infant and by his stepfather at age 10 has left President Obama with a "father hunger" that influences everything from why he distances himself from pushy supporters, to his strong desire to compromise and bring people together, to his aggressive campaign to kill Osama bin Laden, says a psychoanalytic book out next week. In Obama on the Couch, George Washington University professor Justin Frank also reveals that Obama has spent much of his life seeking out father figures, but most, like Rev. Jeremiah Wright and Vice President Biden, have disappointed him. "Obama searched for a father, for someone to relate to who could help him—a strong man who knew what to do," Frank writes.
[Check out
photos of Obama behind the scenes.]
This is
Frank's second psychoanalytical book about a president. While a sympathetic
look at Obama, it follows Bush on the Couch, a sharply critical analysis that suggested then
President George W. Bush was disturbed. In that book, he predicted that someone
like Obama—"completely different," "someone not ...
white"—would succeed Bush. What the nation ended up with, however, is
"an almost tragic figure," Frank writes.
The general
theme is that Obama has been affected both by being biracial and by the
abandonment of his two dads during his childhood. The result is that he is
overly protective of his own nuclear family, desires greatly to see national
unity, and yet harbors anger that he took out on bin Laden. [Vote
now: Will Obama be a one-term president?]
Take for
example Obama's earlier willingness to compromise with Republicans, upsetting
his liberal base. Here Frank cites the negative influence of his parents,
especially his mom, who often pressed him to do better in school. "He
hates being pushed by supporters who want him to make good on his promises of
universal healthcare and care for the poor, something that represents his
mother and how she pushed him to study harder," Frank writes. And when he
ignores his base, he is emulating his father, expressing annoyance but not
worried they will desert him.
Frank also
calls Obama scared of the type of radical change he advocated in 2008. "He
wants to be the father who makes change safe, the person he has waited for his
entire life."
Browse: photos of 2012 GOP hopefuls on the
campaign trail…’
BUCHANAN: Is the New World Order unraveling? October 13, 2011 ‘With Greece on the precipice of default and Portugal and Italy approaching the ledge, the European monetary union appears in peril.
Should it
collapse, the European Union itself could be in danger, for economic
nationalism is rising in Europe. Which raises a larger question.
Is the New
World Order, the great 20th century project of Western transnational elites,
unraveling?
The NWO dates
back as far as Woodrow Wilson's League of Nations, which a Republican Senate
refused to enter. FDR, seeking to succeed where his mentor had failed, oversaw
the creation of a United Nations, an International Monetary Fund and a World
Bank.
In 1951 came
the European Coal and Steel Community, love child of Jean Monnet, which evolved
into the European Economic Community, the European Community and the European
Union. A European Central Bank and a new currency, the euro, followed.
The hidden
ultimate goal of economic union was political union – a United States of Europe
as model and core of the 21st-century world government.
With the
disintegration of the Soviet Union, the EU expanded to the east. And the New
World Order, formally proclaimed by George H.W. Bush in 1991, was out in the
open and seemingly the wave of the future.
Progress was
swift.
A North
American Free Trade Agreement, bringing the United States, Mexico and Canada
into a common market that George W. Bush predicted would encompass the
hemisphere from Patagonia to Prudhoe Bay, was signed in 1993.
A World Trade
Organization was born in 1994. U.S. sovereignty was surrendered to a global body
where America had the same single vote as Azerbaijan.
The Kyoto
Protocol, brought home by Vice President Al Gore, set up a regime to control
the worldwide emission of greenhouse gases.
An
International Criminal Court, a permanent Nuremberg Tribunal to prosecute war
crimes and crimes against humanity, was created.
A doctrine of
limited sovereignty had been asserted. Elites claimed a higher law than
national sovereignty; "a responsibility to protect" enabled them to
intervene in countries where human rights violations were egregious.
Serbia, bombed
by Bill Clinton for 78 days for fighting to hold its ancient province of
Kosovo, was the first victim.
Suddenly,
however, the progression has stalled. Indeed, the New World Order seems to be
unraveling.
Emerging
powers like China, India and Brazil are demanding they be exempt from
restrictions developed countries seek to impose. The follow-up summits to Kyoto
– Copenhagen in 2009, Cancun in 2010 – ended in failure. The Doha round of
world trade negotiations ended in failure.
China refuses
to let her currency float lest she lose the trade surpluses that have enabled
her to amass $3 trillion in cash reserves.
Protectionism
is rising. Americans chafe at a new world economic order that has led to
deindustrialization of their country. Congress is talking of defunding the U.N.
as anti-Western and anti-Israel.
Why is the New
World Order suddenly going in reverse?
A primary
reason is the resurgence of nationalism. Nations are putting national interests
ahead of any perceived global interests.
A second
reason is the decline of a West whose project this was. We no longer dictate to
the world, and the world no longer marches to our tune. The deficits and
indebtedness of Western nations preclude more of the big wealth transfers in
foreign aid that once bought us influence.
A third reason
is demography. Not one European nation has a birth rate sufficient to replace
its population. Europe's nations are aging, shrinking, dying. A depopulating
Germany cannot carry forever the deficit-debtor nations of Club Med. The oldest
nation, Japan, is on schedule to lose 25 million people by 2050, as is neighbor
Russia.
Militarily,
America remains the most powerful nation. But Iraq and Afghanistan have bled
the country and left us without the certain attainment of our goals. Old allies
like Turkey go their separate ways.
Ethno-nationalism
also explains a disintegrating world order. Aspiring nations like Scotland,
Catalonia, Padania, Flanders, Ingushetia, Dagestan, East Turkestan, Kurdistan
and Baluchistan seek a place in the sun, free of the cloying embrace of the
mother country.
The desire of
peoples for nations all their own, where their own language, faith and culture
predominate and their own kind rule to the exclusion of all others, is
everywhere winning out over multiculturalism and transnationalism.
Through
history there have been attempts to unite the world.
The Roman
Empire. Catholicism. Islam. The West that ruled much of mankind from Columbus
to the mid-20th century. Communism, which conquered half of Europe and Asia but
arose and fell in a single century.
With the death
of communism and the decline of the West – in relative population and power –
Islam has become the largest religion, China the world's emerging superpower
and Asia the continent of the future.
Could this
still be the Second American Century? [
Absolutely, unequivocally NOT! ]
Not
the way we are going.’
Read more: Is the New World Order unraveling? http://www.wnd.com/index.php?fa=PAGE.view&pageId=355405#ixzz1aiOydNLu
Rick Perry's Pledge To
Stand With Israel "as a Christian"... [ Yes, indeed! This is as damaging to
Christianity as it is helpful to Islamic fundamentalists, ‘extremists’,
realists; in large part owing to the fact that such a position can’t be
justified rationally, biblically, spiritually, morally, or realistically! ]
Rick Perry's pledge to stand with Israel "as a Christian" is a gift
to Islamic...
Analysis: what was so objectionable about Ahmadinejad’s
speech? [ Nothing! As regards the twin towers reference, his
position is consistent with in excess of 95% of those who’ve looked closely at
same, including from an engineering perspective, as opposed to those who
blindly accept the government ‘pablum’ of the neo-con cherished ‘pearl harbor
event’ (that was wildly cheered by those israeli agents in Weehawken, n.j.)
]Activist Post | It is clear that Ahmadinejad’s address to the 66th Session of
the United States General Assembly was not well met.
California City Closes Down Bible Study in Private Home Kurt Nimmo | In Orange County,
California, it is illegal to hold a religious meeting in your home. In Orange
County, California, it is illegal to hold a religious meeting in your home.[
How totally pathetic … California … truly the ‘land of fruits and nuts’! …
Meanwhile, the inmates that run the asylum called California are releasing
felons from prisons in droves because they can’t count, do simple math. Maybe
if these peaceful people in the confines of their homes (it’s a jungle out
there on the lawless California ‘streets’) were to commit serious crimes they
would get more empathy, understanding from the inmates / criminals running the
asylum they call California! Outrageous! ] ‘This is what Chuck and Stephanie
Fromm, of San Juan Capistrano, discovered when they were fined $300 earlier
this month for holding a Bible study class on their property.Officialdom in the
county said the couple were singled out because it is considered illegal to
hold “a regular gathering of more than three people” on private property.
Officials stated that the Fromms require a license to hold meetings in their
home.San Juan Capistrano authorities claim home Bible study is not allowed
because it is a “church,” and churches require a Conditional Use Permit (CUP)
in residential areas.The Fromms face additional fines of $500 per meeting for
any further “religious gatherings” in their home, according to the Pacific Justice Institute.The city’s action is a brazen
violation of the First Amendment, which guarantees free worship without government
intervention.PJI and the Fromms plan to appeal a decision made by the city to
uphold the fine and restriction to the California Superior Court in Orange
County, according to KCOY 12 News, a Fox affiliate.Ironically, the city of San
Juan Capistrano was founded as a mission in the late 1700s by Catholic priest
Junipero Serra. A local chapel established by Serra is the oldest standing
building in California.’
WIRELESS:
Obama invested in Falcone-funded Co.... In ’05 Investing, Obama Took Same Path
as Donors By MIKE McINTIRE and CHRISTOPHER
DREW ‘Less than two months after ascending to the United
States Senate, Barack
Obama bought more than $50,000 worth of stock in two speculative
companies whose major investors included some of his biggest political donors.
One of the companies was a biotech
concern that was starting to develop a drug to treat avian flu. In March 2005,
two weeks after buying about $5,000 of its shares, Mr. Obama took the lead in a
legislative push for more federal spending to battle the disease.
The most recent financial disclosure
form for Mr. Obama, an Illinois Democrat, also shows that he bought more than
$50,000 in stock in a satellite communications business whose principal backers
include four friends and donors who had raised more than $150,000 for his
political committees.
A spokesman for Mr. Obama, who is
seeking his party’s presidential nomination in 2008, said yesterday that the
senator did not know that he had invested in either company until fall 2005,
when he learned of it and decided to sell the stocks. He sold them at a net
loss of $13,000.
The spokesman, Bill Burton, said Mr.
Obama’s broker bought the stocks without consulting the senator, under the
terms of a blind trust that was being set up for the senator at that time but
was not finalized until several months after the investments were made.
“He went about this process to avoid an
actual or apparent conflict of interest, and he had no knowledge of the stocks
he owned,” Mr. Burton said. “And when he realized that he didn’t have the level
of blindness that he expected, he moved to terminate the trust.”
Mr. Obama has made ethics a signature
issue, and his quest for the presidency has benefited from the perception that
he is unlike politicians who blend public and private interests. There is no
evidence that any of his actions ended up benefiting either company during the
roughly eight months that he owned the stocks.
Even so, the stock purchases raise
questions about how he could unwittingly come to invest in two relatively
obscure companies, whose backers happen to include generous contributors to his
political committees. Among those donors was Jared Abbruzzese, a New York
businessman now at the center of an F.B.I. inquiry into public corruption in
Albany, who had also contributed to Swift Boat Veterans for Truth, a group that
sought to undermine John Kerry’s
Democratic presidential campaign in 2004.
Mr. Obama, who declined to be
interviewed about the stock deals, has already had to contend with a
controversy that arose out of his reliance on a major campaign contributor in
Chicago to help him in a personal financial transaction. In that earlier case,
he acknowledged last year that it had been a mistake to involve the
contributor, a developer who has since been indicted in an unrelated political
scandal, in deals related to the Obamas’ purchase of a home.
Senate ethics rules do not prohibit
lawmakers from owning stocks — even in companies that do business with the
federal government or could benefit from legislation they advance — and indeed
other members of Congress have investments in government contractors. The rules
say only that lawmakers should not take legislative actions whose primary
purpose is to benefit themselves.
Mr. Obama’s sale of his shares in the
two companies ended what appears to have been a brief foray into highly
speculative investing that stood out amid an otherwise conservative portfolio
of mutual funds and cash accounts, a review of his Senate disclosure statements
shows. He earned $2,000 on the biotech company, AVI BioPharma, and lost $15,000
on the satellite communications concern, Skyterra, according to Mr. Burton of
the Obama campaign.
Mr. Burton said the trust was different
from qualified blind trusts that other senators commonly used, because it was
intended to allow him greater flexibility to address any accusations of
conflicts that might arise from its assets. He said Mr. Obama had decided to
sell the stocks after receiving a communication that made him concerned about
how the trust was set up.
The investments came at a time when Mr.
Obama was enjoying sudden financial success, following his victory at the polls
in November 2004. He had signed a $1.9 million book deal, and his ethics
disclosure reports show that he received $1.2 million of book money in 2005.
His wife, Michelle, a hospital vice
president in Chicago, received a promotion that March, nearly tripling her
salary to $317,000, and they bought a $1.6 million house in June. The house sat
on a large property that was subdivided to make it more affordable, and one of Mr.
Obama’s political donors bought the adjacent lot.
The disclosure forms show that the
Obamas also placed several hundred thousand dollars in a new private-client
account at JPMorgan Chase, a bond fund and a checking account at a Chicago
bank.
But he put $50,000 to $100,000 into an
account at UBS, which his aides say was recommended to him by a wealthy friend,
George W. Haywood, who was also a major investor in both Skyterra and AVI
BioPharma, public securities filings show.
Mr. Haywood and his wife, Cheryl, have
contributed close to $50,000 to Mr. Obama’s campaigns and to his political
action committee, the Hopefund. Mr. Haywood declined to comment.
Within two weeks of his purchase of the
biotech stock that Feb. 22, Mr. Obama initiated what he has called “one of my
top priorities since arriving in the Senate,” a push to increase federal
financing to fight avian flu.
Several dozen people had already died
from the disease in Southeast Asia, and experts were warning that a worldwide
pandemic could kill tens of millions of people. Mr. Obama was one of the first
political leaders to call for more money to head off the danger, which he
described as an urgent public health threat.
His first step came on March 4, 2005,
when the Senate Foreign Relations Committee approved his request for $25
million to help contain the disease in Asia; the full Senate later approved
that measure. And in April 2005, he introduced a bill calling for more research
on avian flu drugs and urging the government to increase its stockpiles of
antiviral medicines.
Mr. Obama repeated this call in a
letter that Aug. 9 to Michael O. Levitt, the health and human services
secretary. And in September 2005, Mr. Obama and Senator Tom Harkin,
Democrat of Iowa, succeeded in amending another bill to provide $3.8 billion
for battling the flu.
Meanwhile, the drug company in which he
invested, AVI BioPharma, had been working to develop its own medicine to treat
avian flu victims. In a conference call with Wall Street analysts on March 8,
2005, the company’s chairman, Denis R. Burger, said the firm was “aggressively
going forward” with its avian flu research and hoped to work with federal
agencies on it.
The company, which is also developing
medicines in a number of other areas, provided several updates on its avian flu
research in 2005, including one on Oct. 21 saying the company was likely to
develop a treatment for avian flu “in a relatively short time.”
Mr. Obama sold what appears to have
been about 2,000 shares of the company’s stock a week later, when it traded at
about $3.50 a share, or about $1 a share more than when he bought it. Company
officials said they never talked to the senator about his work on avian flu.
And while the company has received millions of dollars in federal money to
develop drugs for treating ebola and other serious diseases, it still has not
received any federal money for its avian flu research.
The company’s stock briefly surged to
nearly $9 a share in January 2006 when it announced promising research findings
on the flu drug. But the company still has not applied for federal approvals to
test and market the drug.
Unlike his investment in AVI, which
yielded a small profit, Mr. Obama’s stake in Skyterra Communications went in
the opposite direction, despite a promising start.
He bought his Skyterra shares the same
day the Federal Communications Commission ruled in
favor of the company’s effort to create a nationwide wireless network by
combining satellites and land-based communications systems. Immediately after
that morning ruling, Tejas Securities, a regional brokerage in Texas that
handled investment banking for Skyterra, issued a research report speculating
that Skyterra stock could triple in value.
Tejas and people associated with it
were major donors to Mr. Obama’s political committees, having raised more than
$150,000 since 2004. The company’s chairman, John J. Gorman, has held
fund-raisers for the senator in Austin, Tex., and arranged for him to use a
private plane for several political events in 2005. Mr. Gorman declined to
comment.
In May 2005, Mr. Abbruzzese, who was
vice chairman of Tejas and a principal investor in Skyterra, contributed
$10,000 along with his wife to Mr. Obama’s political action committee — a
departure from his almost exclusive support of Republicans.
Eight months earlier, for instance, he had contributed $5,000 to the Swift Boat
group, and he has given $100,000 to the Republican National Committee since 2004.
Last year, Mr. Abbruzzese, a major
investor in several high-tech companies in New York and elsewhere, emerged as a
central figure in the federal investigation of the New York State Senate
majority leader, Joseph
L. Bruno. The inquiry is examining Mr. Bruno’s personal business
dealings, including whether he accepted money from Mr. Abbruzzese in return for
Senate approval of grants for one of Mr. Abbruzzese’s companies. Both men have
denied any wrongdoing. Mr. Abbruzzese did not return phone calls seeking
comment.
Skyterra’s share price was lifted into
the $40 range for a time on the strength of the F.C.C. ruling, but eventually
drifted down into the low 30s, and was at $31 when Mr. Obama sold his shares
for a $15,000 loss on Nov. 1, 2005. A few months later, it plunged into the $20
range, and today trades below $10 a share. A spokesman for Skyterra said the
company’s top officials had not been aware of Mr. Obama’s investment.’
Joe McGinniss Sarah Palin Book, 'The Rogue,' Makes
Controversial Claims About Former Alaska Governor ‘Joe
McGinniss's new book, The Rogue: Searching for the Real Sarah Palin,
hits bookstores next week, but its controversial claims about the former Alaska governor are
already making waves.
In the book,
McGinniss writes that Palin had a one-night stand in 1987 with future NBA basketball
player Glen Rice nine months before she married her husband Todd. He quotes a
friend who said Palin "had a fetish for black guys for a while."
"She was
a gorgeous woman. Super nice. I was blown away by her," Rice tells
McGinniss in the book, NBC reports. "Afterward, she was a big crush that I
had."
McGinniss's
book also alleges that Palin had an extramarital affair with her husband's
business partner, Brad Hanson, in the mid-1990s, and snorted cocaine off a
55-gallon oil drum while snowboarding.
"An utter
fraud. An absolute and utter fraud," McGinniss calls Palin in an interview about the book with NBC.
"At best,
she's a hypocrite," McGinniss tells NBC's Savannah Guthrie. "At
worst, she's a vindictive hypocrite."
McGinniss
famously moved into a house next door to Palin's Wasilla, Alaska home
to write his book -- prompting the Palins to accuse him of stalking them. They built a high fence along their property to protect their
privacy.
In response to
McGinniss's book, Todd Palin gave a statement to NBC saying that McGinniss "spent the last
year interviewing marginal figures with an axe to grind in order to churn out a
hit piece to satisfy his own creepy obsession with my wife."
"I'd ask
the fathers and husbands of America to consider our privacy when one summer day
I found this guy on the deck of the rental property, just 18 feet away next
door to us, staring like a creep at my wife while she mowed the lawn in her
shorts," Palin said.
McGinniss says
that anything he learned about Palin by living next door did not make it into
the book, but he does become a character in the story himself.
The New
York Times writes in its review:
Soon
Mr. McGinniss is settling in to enjoy the fuss his mere presence has created.
"Normally, for a news story to continue beyond the first 24-hour news
cycle, something newsworthy must occur," he writes loftily, but "The
Rogue" is filled with proof to the contrary. What was his hate mail like?
He quotes it. What did Glenn Beck call him? That’s here too. Who took umbrage
at this venom and chose to help him? One man offered him a hideout, despite Mr.
McGinniss's slight skepticism about his motives. "But you don’t know
me," Mr. McGinniss protested.
McGinniss's book is scheduled to hit bookstores on
Tuesday, Sept. 20.’
The Rogue: Searching For The Real Sarah Palin' Cover Revealed Call it Palin Noir. Joe McGinniss' upcoming biography of Sarah Palin has a cover design more fitting for a detective novel. It has a bold...
Joe
McGinniss, Palin Neighbor & Author, Leaving Wasilla To Write Book ANCHORAGE, Alaska — Sarah Palin can take down the
fence. Palin's neighbor of three months on Wasilla's Lake Lucille, author Joe
McGinniss, is packing his...
Bristol Palin Interview Accidentally Reveals Mother's 15
Abortions WASILLA,
AK—Sarah Palin's political team was forced to do emergency damage control
Monday after the former Alaska governor's daughter Bristol accidentally
divulged on live television that her mother has undergone at least 15 abortions
over the past 30 years. "She's always telling me how special I am,
especially considering the five or six babies she aborted before I was
born," Palin, 20, said during a CNN interview in which she was asked if
she thought her mother would make a good president. "Then of course there
were the twins she aborted shortly after having me, another four abortions
after Willow somehow survived hers—but anyway, she's a wonderful mom. She just
gets pregnant a lot and doesn't always want to have the baby." Palin also
commended her mother's strength in carrying three babies with Down syndrome to
term, and then even choosing not to give Trig up for adoption like the others.
Ralph
Nader: U.S. is a two party dictatorship Raw Story | “It’s a two party dictatorship unless you’re
worth billions of dollars.”
Astronauts'
tracks, trash seen in new moon photos [ The easiest thing in the
world to contrive (don’t forget they can with some precision today send
robotics to ie., mars, etc.) and doctor so don’t be taken in by their
fraudulent b***s***! They’re probably desperately looking for some money /
budgetary consideration for their continued boondoggles. No man has ever set
foot on the moon to date. As
NASA transitions, U.S. space politics in a state of flux (Washington Post) [ U.S. space politics? I
didn’t know there was such a thing. But I, and I’m sure all know that ‘u.s.
politics are spaced’. Flux? One could only hope. I’d say, ‘fleeced’; as in
we’ve all been fleeced. Sterner:
5 myths about NASA (Washington
Post) [ If you can’t get past the first myth; viz., that they actually set foot
on the moon, the other 5 so-called myths become irrelevant. Indeed,
post-Eisenhower, and certainly post-Kennedy-assassination / coup d’etat, NASA
was all military / military industrial complex (moreover, someone knowledgeable
about such matters said essentially that in explaining to my surprise the
transition to the shuttle program it was said there was greater military
application in same). In any event, Russia’s been doing quite a bit of ‘heavy
lifting’ vis-à-vis the space station, but not inordinately so. All I can say with
certainty is that the universe beyond this solar system is forever protected /
insulated. The fact is, they never set foot on the moon; and, in light of the
pervasive corruption in and defacto bankruptcy of the nation, their perpetual
wars toward making a hell on earth militate against anything but trying to do
even just a little bit better (for a start), terrestrially. NASA wants
mission to bring Martian rocks to Earth (AP) Why? They already have
that and more: Launch
of secret US space ship masks even more secret launch of new weapon The
Militarization of Outer Space: The Pentagon’s “Space Warriors” Global Research | It’s not as if
things aren’t bad enough right here on planet earth. Now the Defense Department
wants to up the stakes with new, destabilizing weapons systems that will
transform low- and high-earth orbit into another
“battlespace.” buzz aldrin
wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if
he already has the footage in the can since you won’t be able to use the moon
footage for the new boondoggle video ... OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO
BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE
(IMAGINATION).
AMERICA FALLS TO 5TH PLACE... GENEVA — ‘The U.S. has tumbled further down a global ranking of the world's most competitive economies, landing at fifth place because of its huge deficits and declining public faith in government, a global economic group said Wednesday.
The
announcement by the World Economic Forum was the latest bad news for the Obama
administration, which has been struggling to boost the sinking U.S. economy and
lower an unemployment rate of more than 9 percent. Switzerland held onto the
top spot for the third consecutive year in the annual ranking by the
Geneva-based forum, which is best known for its exclusive meeting of luminaries
in Davos, Switzerland, each January. Singapore moved up to second place,
bumping Sweden down to third. Finland moved up to fourth place, from seventh
last year. The U.S. was in fourth place last year, after falling from No. 1 in
2008.
The rankings, which the forum has issued for more
than three decades, are based on economic data and a survey of 15,000 business
executives.
The forum praised the U.S. for its productivity,
highly sophisticated and innovative companies,
excellent universities and flexible labor market. But it also cited "a
number of escalating weaknesses" such as rising government debt and
declining public faith in political leaders and corporate ethics.
The results of a survey of 142 nations comes a day
before Obama is preparing to tackle jobs issues in a speech to the U.S.
Congress, and just as U.S. polls show a clear majority of those surveyed say
they disapprove of the way Obama is handling the economy.
Switzerland held onto its top ranking, the forum
said, because of "continuing strong performance across the board"
with innovation,
technological readiness, even-handed regulation and having one of the world's
most stable economic environments.
Germany, Europe's economic powerhouse, was sixth,
followed by the Netherlands and Denmark. Japan came in ninth, and Britain was
10th. France was 18th, and Greece, saddled with debt, fell to 90th.
The report looked at broader trends: While the U.S.
slipped, emerging markets gained traction. China took 26th place, highest among
major emerging economies; Brazil was 53rd; India was 56th; and Russia was 66th.
"Fiscal imbalances that have been building up
around the world are really a danger to future competitiveness, in terms of the
ability of countries to invest
in those things that will be very important for competitiveness going forward,
things like education, infrastructure and so on," said Jennifer Blanke, an
economist with the forum.’
Gunman wounds several at Nevada
restaurant Washington Post - A man with a rifle shot a group of
uniformed members of the National Guard. Officers review evidence, including
bullet holes, at the scene of a shooting at an IHOP restaurant in Carson City,
Nev. 4 dead, including shooter, in Nev. IHOP attack CBS News Sheriff: Gunman used AK-47 in IHOP
shootingThe Associated Press Shooting at IHOP Restaurant in Nevada Kills Two National Guard
Members, At ... Fox News [ I heard
this breaking story as it came across the radio – the soundbite was from
someone being interviewed (I didn’t catch the name or position), who said such
as this incident happens in third world countries, not here. Au contraire! Take
a good look … from Philly, to Chicago, to Detroit, to Newark, to New York, to
Miami, to Los Angeles, etc., to crime rates worldwide (u.s. is no. 1 by far),
to pervasive corruption, to pervasive fraud (gov’t sanctioned), to meaningful lawlessness
and arbitrary enforcement, to gunboat diplomacy and perma wars, to over-printed
ever-more worthless currency, to insurmountable debt (promises to pay,
unfounded liabilities) etc., … defacto bankrupt america is a third-world
country, and the biggest by far with much further to fall …] Legendary
Investor Jeremy Grantham: America is a Banana Republic Washington’s Blog | Just different
bananas perhaps? [ Of course this is absolutely true! And not just from the
meaningfully lawless perspective – I had made such a statement on the record in
a LA Superior Court Appellate Dept. proceeding in which said court literally
ignored the law (the same is true of the costly, plushly accoutered lifetime
appointee federal courts) which courts should indeed be abolished in these
difficult economic / budgetary times. Additionally, from pervasive corruption,
to debased over-printed currency, to gunboat diplomacy, to total incompetence,
etc., america is indeed a banana republic at most.]
MSNBC Yet Again Implies Criticism of Obama Is Racist Paul
Joseph Watson | General Electric-owned (49%) network is earning its federal
bailout money. [Yet, it’s holder / wobama who’re the racists … Robinson:
King’s dream remains unrealized (Washington Post) [ Yeah! That ‘content of
their character’ thing’s a b***ch to live up to … just don’t measure up! What’s
a white person to do, especially when black atty. General Holder with fellow
black Obama’s tacit approval is racist himself (themselves) UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims '. Drudgereport:
'Mob' beatings at WI state
fair...
'Hundreds of
young black people beating white people'... [ Typical… ]
Fairgoers 'pulled out of
cars'...
'They were
just going after white people'...
Heightened
security...
Play It
Again Sam: Dave's Daily [ As
always, Dave is spot-on as an astute, knowledgeable, seasoned veteran of the
markets. ] ‘ In our little
village in New Hampshire (call it Whoville) there's a summer stock playhouse a
block or so from us. They have many good plays but no matter the production or
quality, they can't top Wall Street from delivering great performances.
Thursday was another great show starring Jobless Claims, Warren Buffet, HAL
9000s, Steve Jobs and, of course, Da Boyz running the CRIMEX (COMEX and CME) on
precious metals options expiration.
The spin on
Jobless Claims data was prior claims were adjusted higher making recent higher
claims look not so bad especially when you add Verizon workers.
Warren Buffett
entered from stage left with a $5 billion investment in Bank of America (BAC)
giving him 6% interest tax-free (a "coddled" billionaire?) and making
he and Berkshire (BRK) a new TARP program.
The HAL 9000s
have been doing business as HFTs (High Frequency Traders) launching many buy or
sell programs using complex algorithms which can drive prices on indexes higher
or lower in dramatic fashion. One of their great acts is called "quote
stuffing". It's another illegal activity which the SEC hasn't quite
figured out. It's as futile for them as the illegal fee-driven recent
end-of-quarter price jam-job. One of these actions was featured courtesy of our
friends at Zero
Hedge and depicted below as it occurred Thursday afternoon. The first chart
features the quotes per second (NOTE: one instance exceeding 800 quotes per
second). The next chart shows the market's simultaneous reaction.
http://www.thestreet.com/tsc/daves/082511/image002.jpg
Steve Jobs
sadly is retiring from his leading role as Apple (AAPL) CEO but the stock hardly budged given the
products and brand are already well-known and his retirement was much
anticipated.
Last, but not
least certainly, was the performance of Da Boyz production of gold price
manipulation. The first bear raid occurred Tuesday as The Shanghai Gold
Exchange raised margins putting pressure on prices Wednesday in the U.S. Not so
secretly evidently, Da Boyz met in Chicago and determined to raise gold margins
after the close of trading on Wednesday--this being
done with prices already down $100. This action was obviously leaked to those
in the options pits and the impact enhanced with options expiration Thursday.
So we gapped down lower with this event no doubt triggering more stops. This
made the strike price hunt down profitable for those on the floor. Once those cleared
we rallied back and closed slightly higher on the day.
http://www.thestreet.com/tsc/daves/082511/image003.jpg
Meanwhile,
back at Wall & Broad stocks fell sharply because evidently there's some
concern Ben will do nothing in launching another round of QE from Jackson Hole.
Bond prices were higher as was the dollar while commodity prices overall were
mixed.
Volume was
higher once again on selling and breadth per the WSJ was quite negative putting
more life back into the roller coaster ride…’
Ilsa:
Play it once, Sam. For old times' sake.
Sam: I don't know what you mean, Miss Ilsa.
Ilsa: Play it, Sam. Play "As Time Goes By."
Sam: Oh, I can't remember it, Miss Ilsa. I'm a little rusty on it.
Ilsa: I'll hum it for you. Da-dy-da-dy-da-dum, da-dy-da-dee-da-dum...
Ilsa: Sing it, Sam.
The line is usually associated with Humphrey Bogart
and later in the film his character Rick Blaine has a similar exchange,
although his line is simply 'Play it':
Rick:
You know what I want to hear.
Sam: No, I don't.
Rick: You played it for her, you can play it for me!
Sam: Well, I don't think I can remember...
Rick: If she can stand it, I can! Play it! ‘
Facebook
"Places" List Signals Decline of Western Civilization at Minyanville Justin
Rohrlich ‘Okay, it's official: the United States is pathetic … From Mashable
comes the first set of Facebook-supplied data
regarding where their users "check in"...and it ain't pretty:
1.
Starbucks
2. Buffalo Wild Wings
3. Chili’s
4. Applebee’s
5. McDonald’s
6. IHOP
7. Denny’s
8. Olive Garden
9. T.G.I. Friday’s
10. The Cheesecake Factory
Yep, that's where we stand these days -- of the 157 million Facebook users in
the United States, these are the ten locations they frequent most. Not the
restaurants they frequent most. The PLACES they frequent most. If that doesn't
signal America's imminent decline, maybe the Pennsylvania middle school
principal who is bringing
his sheep to work because lawnmowers are breaking the budget, will. Just
askin'. ‘
Buchanan:
The view from Martha's Vineyard... Patrick J. Buchanan ‘As he and his daughters bicycle
around the summer playground of the Northeastern elite, Martha's Vineyard,
President Obama is steadily bleeding away both the support of the nation and
that of his most loyal constituency. Several times, his approval rating in
Gallup's daily tracking poll has sunk to 39 percent, with disapproval reaching
54 percent. Support for his handling of the economy has dipped to the mid-20s. Only 11 percent of
Americans, says Gallup, are satisfied with the way things are going. Unemployment remains at 9 percent, as it has for two
years. The Dow has lately lost 2,000 points, or $3 trillion in wealth wiped
out. All that money the Fed pumped out is now being reflected not only in the
price of gold, silver and Swiss francs, but in rising consumer prices –
inflation. One in five U.S. children is living in poverty.
Middle
America, some time ago, decided the "hopey, changey thing" was not
working out for them. Now the patience of African-Americans with a president
for whom they voted 24 to one is wearing thin.
At a Black
Caucus confab in Detroit, Rep. Maxine Waters told an angry audience that if and
when Black America demands that they confront Obama, the caucus is ready
"to have the conversation."
A collision
between Obama and his base seems inevitable. For Black America's situation,
though tough today, seems certain to get tougher. Why?
First, black
Americans held a significant share of the subprime mortgages that went sour
when housing prices went south, and are thus overrepresented among those who
lost homes.
Second, black
Americans, with a higher rate of poverty, depend more on the entitlement and
social programs that Obama cannot avoid hoisting onto the chopping block in any
"balanced" plan for dealing with the deficit-debt crisis.
Third,
African-Americans are overrepresented among the 22 million who work for local,
state and federal governments. And while government workers came out best in
terms of job security and salary hikes in the stimulus days of 2009 and 2010, in
the austerity days of 2011, they are getting their fair share of pink slips. It
is almost a truism: Whenever Middle America goes into recession, Black America
flirts with depression.
Consider the
U.S. Postal Service, with 600,000 employees, running a deficit of $8.5 billion
and facing layoffs of 120,000. According to William Burrus, ex-president of the
Postal Workers Union, 21 percent of all postal employees are black. When the
cuts come, minorities will take a big hit.
That
African-Americans favor a powerful federal government is understandable. After
all, it was the federal government that crushed the Confederacy, freed the
slaves, sent troops to integrate the South, enacted the civil rights laws,
imposed affirmative action on companies and colleges, and created the Great
Society that provided trillions in wealth transfers and welfare benefits and employs a share of the black population
that is nearly twice its representation in the labor force.
That
African-Americans would see states' rights conservatives and small-government
Republicans as hostile to the one powerful institution most friendly to them
should come as a no surprise.
Here we come
to Barack's dilemma.
The nation he
leads is facing a deficit-debt crisis that comes of an inescapable truth:
Whether we are talking about commitments to go to war to defend scores of
nations or commitments to entitlement and Great Society programs such as Social
Security, Medicare, Medicaid, earned income tax credits, food stamps and
Pell grants, we Americans have handed out promissory notes we no longer have
the means to meet.
We can no
longer deliver what we have promised.
We are running
deficits of 10 percent of gross domestic product with a national debt over 100
percent. We are on the path that Italy is following, which is the path that
Greece pursued.
We are an
overextended empire and commonwealth facing strategic and fiscal bankruptcy. If
Obama is to lead the nation out of the crisis it confronts, he has to preside
over a downsizing of the welfare-warfare state – the same state that sustains
his base.
Not to worry,
we are told. When the lazy days of summer are over, Obama will present Congress
with his big plan for resurrecting the economy and ensuring the long-term
solvency of the nation.
Obama's
September program – indeed, any credible plan to revive the economy and bring
our books into balance – has to include a rollback of U.S.
commitments at home and abroad.
Yet,
domestically, this cannot be done without reducing future Social Security, Medicare and Medicaid benefits, and cutting and capping
the social programs of the Great Society. Moreover, half the nation cannot
freeload forever, as is the case today, contributing nary a dime in federal income taxes.
And such
reforms must adversely impact most Obama's political and personal base.
If he proposes
new taxes, tea-party Republicans fix bayonets.
If he proposes
downsizing the government and cutting and capping social programs, his most
loyal constituents rise up against him.
Enjoy
the Vineyard, Mr. President. Read more: The view from Martha's Vineyard http://www.wnd.com/index.php?fa=PAGE.view&pageId=335265#ixzz1VQWOeKDx
‘
Putin
sets sights on Eurasian economic union FT | Putin hopes to build a “quasi-European Union” out
of former Soviet states.
Drudgereport: BLACK
CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s
b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be
taken in by their b***s***; they’ll ‘back the black’ every time,
regardless! ]New
low of 26% approve of Obama on economy...
Inflation
builds...
FOOD PRICES
RISING...
UNEMPLOYMENT
UP...
OBAMA TO LAY
OUT JOBS PLAN -- AFTER VACATION...
'Takes More
Vacations Than Any Human Being I've Ever Seen'...
Commiserates
with jobless, then off to the Vineyard...
Even
that italian, belafonte, isn’t buying ‘wobama brand(ed)’:
Drudgereport: HARRY
BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40%
APPROVAL...
Obama takes
debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
http://www.angelfire.com/indie/pearly/htmls/bush-carlyle.html Investment giant says it will likely sell
shares. Defense Secretary Robert M. Gates tours eastern Afghanistan, days
before the Obama administration is scheduled to complete a major review of its
war strategy. ]
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see
infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5
pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as fbicorrespondencereyes.htm
. With regard to the calls to the FBI’s LA and New Haven, CT
offices: There was one call to the LA office and I was referred to the Long
Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I
gave probative evidentiary documents of the money laundering which he confirmed
as indicative of same (he was transferred from said office within approximately
a month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
In
euro crisis, signs of German fatigue
Politics keep the chancellor from putting full weight of Europe’s
largest economy behind a solution (Washington Post) [ Yeah … ‘square pegs in
round holes’ is definitely not Germany’s style. European
economies brace as Germany slows Discouraging news about the pace of growth
came just hours before German and French leaders called for new steps to impose
discipline on governments whose lax budget practices prompted the debt crisis.
(Washington Post) [ First, let’s call this economic scenario what it is; viz.,
the ‘d’ word … ‘depression’. For those who find that term unutterable, then
‘double-dip recession’ is the term for you. All the dollar debasement
(over-printing, etc.) for the benefit of the frauds on wall street et als to
the substantial detriment of everyone else can’t change and has exacerbated and
obfuscated this fact. Moreover, there has been a manipulated churn-and-earn
high-frequency trading bubble-bull cycle in what is unmistakably a secular bear
market. Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Europe’s
crisis and the psychology of fear (Washington Post) [ Given the reality and
magnitude of Europe’s problems going forward, dwarfed only by the magnitude of
those of pervasively corrupt, defacto bankrupt america, it brings to mind the
words of the former Intel CEO (co-founder) Andy Grove ‘ Only the paranoid
survive’ (of course, having survived the Nazis and escaped Communist-controlled
Hungary in Europe, as a jew, one has to assume his perspective / outlook was
somewhat ‘skewed’ thereby). Yet, let’s not kid ourselves to the point where
virtual survival is threatened and at stake as is so for the EU. America
isn’t alone in the downgrade spiral (WP) Indeed, the EU has followed the
contra-indicated perma war, evermore worthless Weimar currency, and a
predispositon / tacit acceptance of paper securities schemes / scams / frauds
which are integral to america’s ongoing, albeit obfuscated, debacle / crisis
which given the unfunded debt load pegged at $211 Trillion among other
estimates, is insurmountable and will end quite badly. Poll:
Sharp dissatisfaction with D.C. The public doubts the government can fix
the nation’s economic problems, Post poll shows. An
unlikely landlord: Uncle Sam (WP) [
No surprise there (the doubts)! Uncle
Scam as landlord? Sounds like a typical scam / fiasco / debacle in the making!
Add limey (brits)-looking (green) frogs (french) to the mix(ed up) in the
pervasively corrupt defacto bankrupt disunited states Italy
unveils plan to calm fears of escalating crisis (WP) [ Yeah, dem piigs were back in the news. ’ Dem PIIGS still got problems. Europe’s
debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close
call! There you go. Nothing to worry about now that wobama’s got a boehner … so
not to be so hard on them; if pelosi says it, it must be true … Not!
…Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey
to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all
know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey
PIIGS they’ll be back to the trough for more … slop … py. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to
political desperation! Why
You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The
market is building momentum to the downside’.
Wall Street
closes worst week since '08 with wild day NEW YORK (Reuters) S&P
on U.S. downgrade: Debt pact 'falls short' - Reuters S&P
downgrades US credit rating from AAA S&P
Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet What
Recovery? Forbes ‘…we can’t call this a recovery. There’s no
reason to celebrate when a job report was better than expected. Why? Because
the expectation was abysmal to begin with. And while we’re at it, we can’t
ignore increasing sovereign debt problems in Europe…’ ‘Top
3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet
1) Japan and Europe 2) Unemployment.3) Capital goods - billions of
dollars in lost revenue. Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude
To Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis… My work shows that “the new
recession has started.”… Over the past 33 years, we have called the start of
every recession, often on the exact month, or within one month, of the official
start as determined one year later by the official arbiter of recession, the
National Bureau of Economic Research (NBER)… However, inflation is far
understated for political reasons. Currently, the GDP deflator is 1.8%, which
hardly reflects the true rise in prices. Therefore, what is counted as
“growth,” is actually price increases. Actual inflation, according to free
market economists who calculate inflation as it was done in 1980 before the
politician re-engineered it, is now more than 11%. Using that to adjust GDP for
inflation, would show that the economy is now in a very sharp contraction…’FLASHBACK
HERE: Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [
He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The
5-year high in the level of insider corporate stock sales is telling. At 565
sells for every 1 buy, it’s never been higher.
Will:
Is Britain a lost ally? (Washington
Post) [ How ‘bout just lost! And, while on the subject of lost, pervasively
corrupt, defacto bankrupt america should tell the so-called (self-interested to
america’s detriment) ‘ally’ israel to get lost!
David Starkey On UK Riots: ‘Whites Have Become Black’ You
Tube | “A particular sort of violent destructive, nihilistic gangster culture
has become the fashion.” [ Britain
burns the colour of 'A Clockwork Orange' Financial Times [ Truly a great film by any cinematic
standard by Stanley Kubrick based on the book of the same name by Anthony
Burgess, ‘A Clockwork Orange takes place in a futuristic
city governed by a repressive, totalitarian super-State. In this society,
ordinary citizens have fallen into a passive stupor of complacency, blind to
the insidious growth of a rampant, violent youth culture. The protagonist of
the story is Alex, a fifteen-year-old boy who narrates in a teenage slang
called nadsat, which incorporates elements of Russian and Cockney
English. Alex leads a small gang of teenage criminals—Dim, Pete, and
Georgie—through the streets, robbing and beating men and raping women. Alex and
his friends spend the rest of their time at the Korova Milkbar, an establishment
that serves milk laced with drugs, and a bar called the Duke of New York… http://www.sparknotes.com/lit/clockworkorange/summary.html http://en.wikipedia.org/wiki/A_Clockwork_Orange_%28film%29 ‘A Clockwork Orange is a 1971 British
darkly satirical science fiction film adaptation of Anthony
Burgess's 1962 novel of the same name. This cinematic adaptation
was produced, directed, and written by Stanley
Kubrick. It features disturbing, violent images, to facilitate social
commentary about psychiatry, youth gangs, and other contemporary social,
political, and economic subjects in a dystopian,
future Britain.Alex (Malcolm
McDowell), the main character is a charismatic, psychopathic delinquent
whose pleasures are classical music (especially Beethoven), rape, and so-called
'ultra-violence'. He leads a small gang of thugs (Pete, Georgie, and Dim), whom
he calls his droogs (from the Russian друг,
"friend", "buddy"). The film tells the horrific crime spree
of his gang, his capture, and attempted rehabilitation via a controversial
psychological conditioning technique. Alex narrates most of the film in Nadsat, a
fractured, contemporary adolescent slang comprising Slavic
(especially Russian), English, and Cockney rhyming slang.A Clockwork Orange
features a soundtrack comprising mostly classical music selections and Moog
synthesizer compositions by Walter
Carlos. The now-iconic poster of A Clockwork Orange, and its images,
were created by designer Bill Gold. The film also holds the Guinness World Record for being the first
film in media history to use the Dolby Sound system ‘ ]
Meyer:
Why aren’t Americans rioting? (Washington Post) [ It really is quite
surprising inasmuch as they’re getting quite a royal screwin’ from the
so-called ‘powers that be’. There might be a tinge of masochism coupled with a
feeling of punishment-deserved remorse in light of the overridingly inherent
criminal nature of americans generally, propelling them to wrongful acts for
which they should be sorry, based upon my own experience and direct
observation. That said, I’d also say ‘give them time’, the worst is yet to
come. Moreover, we’re already seeing it, and not just in britain, greece,
italy, etc., but here in the pervasively corrupt, defacto bankrupt disunited
states of america; viz., detroit, chicago, philadelphia, etc., with predictions
consistent with the reality of much worse to come. Europe’s
crisis and the psychology of fear (Washington Post) [ Given the reality and
magnitude of Europe’s problems going forward, dwarfed only by the magnitude of
those of pervasively corrupt, defacto bankrupt america, it brings to mind the
words of the former Intel CEO (co-founder) Andy Grove ‘ Only the paranoid
survive’ (of course, having survived the Nazis and escaped Communist-controlled
Hungary in Europe, as a jew, one has to assume his perspective / outlook was
somewhat ‘skewed’ thereby). Yet, let’s not kid ourselves to the point where
virtual survival is threatened and at stake as is so for the EU. America
isn’t alone in the downgrade spiral (WP) Indeed, the EU has followed the
contra-indicated perma war, evermore worthless Weimar currency, and a
predispositon / tacit acceptance of paper securities schemes / scams / frauds
which are integral to america’s ongoing, albeit obfuscated, debacle / crisis
which given the unfunded debt load pegged at $211 Trillion among other
estimates, is insurmountable and will end quite badly. Poll:
Sharp dissatisfaction with D.C. The public doubts the government can fix
the nation’s economic problems, Post poll shows. An
unlikely landlord: Uncle Sam (WP) [
No surprise there (the doubts)! Uncle
Scam as landlord? Sounds like a typical scam / fiasco / debacle in the making!
Add limey (brits)-looking (green) frogs (french) to the mix(ed up) in the
pervasively corrupt defacto bankrupt disunited states Italy
unveils plan to calm fears of escalating crisis (WP) [ Yeah, dem piigs were back in the news. ’ Dem PIIGS still got problems. Europe’s
debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close
call! There you go. Nothing to worry about now that wobama’s got a boehner … so
not to be so hard on them; if pelosi says it, it must be true … Not! …Pervasively
corrupt, defacto bankrupt america, they, she look pretty greecey to me. After
all, if the same’s wobama’s ‘far-reaching plan on debt’, we all know ‘wobama
the b’ (for b***s***) is total b***s*** which means like Greecey PIIGS they’ll
be back to the trough for more … slop … py.
Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to
political desperation!
Will:
Kennedy’s Berlin blunder (Washington
Post) [ Oh come on Mr. Will! I’d say Kennedy’s
blunder was, as Caesar and the ides of March, not heeding warnings
concerning that Dallas ride. A bit of a reach though factually accurate are the
implications, consequences of those highlights which in terms of results were
foreseen years before by ‘Warrior-General Patton’. Indeed, for the rising
military industrial complex, one way or another, conflict whether hot or cold,
requiring substantial defense spending was fait accomplis. I’m disappointed to
hear of Kennedy’s unfounded criticism of the last great leader / president, the
substantially underrated but great President General Eisenhower which I would
attribute to Kennedy’s own insecurity regarding such matters and possibly in
psychiatric terms, a form of displacement. Krauthammer:
Our political system is working well (Washington Post) [ Wow! There was a time back
in the late sixties, early seventies when there were these long-haired people
chastised by the so-called ‘establishment’ that would have just loved to be
doin’ whatever it is that Mr. Krauthammer’s been doing to arrive at such a
conclusion, so glaringly devoid of any reality whatsoever. Psychedelics,
hallucinogens, magic mushrooms; what could it be that has brought Mr.
Krauthammer into this fantasy world where even ‘Alice’ of Wonderland fame might
feel comfortable in this netherland (sic) / netherworld created from the depths
of Mr. Krauthammer’s imagination. I’m truly at a loss for words. After all, the
warning by the underrated but great President General Eisenhower of the
impending inherent danger of the military industrial complex came to fruition
with the assassination of JFK and the reality of a coup d’etat thereby. All
presidents, along with the two remaining branches of the pervasively corrupt,
defacto bankrupt american government since have been at best stooges for such
as the military industrial complex, the banksters / frauds on wall street,
etc., to the substantial detriment of the vast majority in this country and
throughout the world (ie., perma wars, huge securities frauds still extant /
now marked to anything as per congressional FASB rule change, and unprosecuted.
Beyond the immediate reach, or at least ‘penetration’ of american propaganda,
an intelligent and astute individual, Legendary
Investor Jeremy Grantham: America is a Banana Republic Washington’s Blog | Just different
bananas perhaps? { Of course this is absolutely true! And not just from the
meaningfully lawless perspective – I had made such a statement on the record in
a LA Superior Court Appellate Dept. proceeding in which said court literally
ignored the law (the same is true of the costly, plushly accoutered lifetime
appointee federal courts) which courts should indeed be abolished in these
difficult economic / budgetary times. Additionally, from pervasive corruption,
to debased over-printed currency, to gunboat diplomacy, to total incompetence,
etc., america is indeed a banana republic at most. } I didn’t see the debates {what does it
matter what they say – the egregious ‘wobama the b’ (for b***s***) fatigue
factor / experience} nor have I read Mr. Robinson’s article, ‘GOP
Debate Land’ but I’m sure I’d agree with his conclusion, ‘I didn’t recognize the America the GOP
candidates described;’ but unfortunately, I do recognize the pervasively
corrupt, defacto bankrupt america of ‘wobama the b’ (for b***s***), failed president
like his predecessor, moron war criminal dumbya bush, that he is. The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (WP) [
Riiiiight! It’s everything but ‘wobama the b’ (for b***s***) that’s to blame
for the nation’s meltdown according to wobama aficionados / intractable wobama
apologists, Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to
wobama’s personal character flaws (among many unmentioned) to exculpate the
failed president wobama. Wobama’s failed miserably and yet had the easiest act
in the world to follow in the persona of fellow failed president war criminal
dumbya bush whose failed policies up to the real start of the election cycle
he’s largely followed. After all, Mr. Robinson, how different really are the
parties these days when profligate spending on illegal, unnecessary wars was
continued when democrats controlled congress, and then even the executive
office when continuing failed president and war criminal dumbya bush’s nation
bankrupting, nation destroying war policies, protection for unprecedentedly
huge wall street frauds, bush tax cut extensions for the wealthy, and then some
(spending on top of it).
Drudgereport:
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40%
APPROVAL...
Obama takes
debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most
importantly, realize that if wobama’s actions had not belied his words/campaign
promises, the nation’s position, though still ominous, would have been
substantially improved.
Poll:
Sharp dissatisfaction with D.C. The public doubts the government can fix
the nation’s economic problems, Post poll shows. An
unlikely landlord: Uncle Sam
(Washington Post) [ No surprise there (the doubts)! Uncle as landlord? Sounds like a typical scam
/ fiasco / debacle in the making! Add limey (brits)-looking (green) frogs
(french) to the mix(ed up) in the pervasively corrupt defacto bankrupt
disunited states Italy
unveils plan to calm fears of escalating crisis (Washington Post) [ Yeah, dem piigs were back
in the news. ’ Dem PIIGS still got
problems. Europe’s
debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close
call! There you go. Nothing to worry about now that wobama’s got a boehner … so
not to be so hard on them; if pelosi says it, it must be true … Not!
…Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey
to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all
know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey
PIIGS they’ll be back to the trough for more … slop … py. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to
political desperation! Why
You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The
market is building momentum to the downside’.
Wall Street
closes worst week since '08 with wild day NEW YORK (Reuters) S&P
on U.S. downgrade: Debt pact 'falls short' - Reuters S&P
downgrades US credit rating from AAA S&P
Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet What
Recovery? Forbes ‘…we can’t call this a recovery. There’s no
reason to celebrate when a job report was better than expected. Why? Because
the expectation was abysmal to begin with. And while we’re at it, we can’t
ignore increasing sovereign debt problems in Europe…’ ‘Top
3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet
1) Japan and Europe 2) Unemployment.3) Capital goods - billions of
dollars in lost revenue. Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude
To Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis… My work shows that “the new
recession has started.”… Over the past 33 years, we have called the start of
every recession, often on the exact month, or within one month, of the official
start as determined one year later by the official arbiter of recession, the
National Bureau of Economic Research (NBER)… However, inflation is far
understated for political reasons. Currently, the GDP deflator is 1.8%, which
hardly reflects the true rise in prices. Therefore, what is counted as
“growth,” is actually price increases. Actual inflation, according to free
market economists who calculate inflation as it was done in 1980 before the
politician re-engineered it, is now more than 11%. Using that to adjust GDP for
inflation, would show that the economy is now in a very sharp contraction…’FLASHBACK
HERE: Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [
He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The
5-year high in the level of insider corporate stock sales is telling. At 565
sells for every 1 buy, it’s never been higher.
Is
Obama’s fate written in numbers? Recent economic data amounts to a
formidable headwind for any incumbent president hoping for a second term. And
Democrats worry time is running out. (Washington Post) [ Let’s just say the
fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s
done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif . ‘Don’t cry for him new argentina, the truth
is he really screwed you’ … well you know that familiar theme and can ad lib,
insert your own words!
It’s
still Obama’s party Why he won’t face a primary challenge: Republicans and
racial politics. (Washington Post) [
It’s true … so right you are! Al Gore’s even pitchin’ in by donating the
talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a
song in wobama’s honor (kidding) which goes something like this , ‘It’s his
party and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you
would cry too, if obama happened to you
… Well, there you go … if the song says
it it must be true. Yeah! And those dern republicans and their racial politics …
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims' – Time to get whitey, at last, at last, etc., say
holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger,
the mobster, either!’
MI6
produced bogus Iraq war evidence under pressure from Downing Street Daily Mail | Iraq had long been a backwater for MI6.
NATO
Massacres of Civilians Aimed at “Cleansing” the Libyan People’s Resistance Mahdi Darius
Nazemroaya | Photographic
evidence of NATO war crimes.
NATO
urged to investigate civilian deaths during Libya air strikes Amnesty
International | Amnesty
International wrote to the NATO Secretary General asking for clarification on
incidents in which unarmed civilians were reportedly killed.
Democrats
want a bolder Obama The president’s allies are getting nervous about what
they see as the lack of a coherent strategy. (Washington Post) [ Well, tell it
to the teleprompter. Without a head per se, at least no one could say as with
‘wobama the b’ (for b***s***) that the teleprompter was in over its head.
Bolder b***s*** is still b***s***! ]
Gallup:
Disapproval of Obama Ties All-Time High CNS News | American’s approval of President tied its
all-time low of 42 percent.
Bristol Palin Interview Accidentally Reveals Mother's 15
Abortions WASILLA,
AK—Sarah Palin's political team was forced to do emergency damage control
Monday after the former Alaska governor's daughter Bristol accidentally
divulged on live television that her mother has undergone at least 15 abortions
over the past 30 years. "She's always telling me how special I am,
especially considering the five or six babies she aborted before I was
born," Palin, 20, said during a CNN interview in which she was asked if
she thought her mother would make a good president. "Then of course there
were the twins she aborted shortly after having me, another four abortions
after Willow somehow survived hers—but anyway, she's a wonderful mom. She just
gets pregnant a lot and doesn't always want to have the baby." Palin also
commended her mother's strength in carrying three babies with Down syndrome to
term, and then even choosing not to give Trig up for adoption like the others.
Taliban
who downed U.S. copter killed U.S. officials say Taliban fighters who shot
down a helicopter with 30 U.S. troops were killed in airstrikes (Washington
Post) [ Oh come on! The Taliban don’t even know who among them downed the u.s.
killer copter! Great propaganda, ‘u.s. gi’s always get their man’. Doesn’t
anyone get tired of their endless b***s*** in their end run to the end? After
all, the nation is defacto bankrupt in large part as a direct consequence of
these ‘military-industrio-inferiority-complex’ follies / welfare warfare
programs. Then there’s the cocomitant typical skullduggery which includes inter
alia:
Same
ritual, a changed president This time, President Obama traveled to Dover
Air Force Base to greet the remains of Americans he had ordered to Afghanistan
himself. Some
victims of crash are identified (Washington Post) [ Changed? I think we could
all agree that despite campaign promises to the contrary, nothing’s changed;
except, pervasively corrupt defacto bankrupt america is more hopelessly
bankrupt and the dismal economic picture has become more dour.
FLASHBACK:
Eyewitness to OBL Raid Saw Helicopter Explode (TRANSCRIPT) [ As
indicated on this albertpeia.com website, I didn’t buy the administration’s
desperate and politically opportunist Osama event and still don’t buy it; and
further, I believe this! ]Veterans
Today | TRANSCRIPT of critical interview with Pakistani
eyewitness to Bin Laden raid. Is this the key to SEAL Team 6′s demise?
“Bin Laden”
Heroes Probably Murderered to Keep Them Quiet Gordon Duff
Veterans
Today August 7, 2011 | Some Possibly Killed in Abbottabad Helicopter
Crash Months Before. [ As indicated on this albertpeia.com website, I didn’t
buy the administration’s desperate and politically opportunist Osama event and
still don’t buy it; and further, I believe this! ] Today 31 NATO troops, 20 of
them Navy Seals from the Osama bin Laden operation died in what is reported as
a helicopter crash in Afghanistan.
‘The chance of
this story being true is almost nil. The chances of this being a staged coverup
is over 80%. We believe these people were murdered to silence them. This is
why.
We have solid
information on two areas:
This gave the US several areas of severe vulnerability.
Generally, Navy Seals are the best people in the world at keeping their mouths
shut, these are real team players, as the term “Seal Team” belies.
Petraeus is a possible presidential contender and had
to be denied this “gift from heaven,” a fast track to the oval office for sure.
Again, I
remind you, I went over specific meetings on bin Laden with his handlers,
getting every last detail. I have watched what has gone on, the continuing need
to vilify a long dead top CIA operative to provide residual cover for the Bush
administration…
The reason?
Bush and his cronies are all facing charges of war crimes, not just in minor
jurisdictions but heading for the ICC, putting them on the dock with Gaddafi (
a far less harmful character).
As for the
timing of this incident? This we will work on. What we can easily surmise is
that some of the dead have been dead since their bodies were taken away from
the helicopter crash site in Abbotabad.
Who would
order such a thing? We are going to have to wait but we are going to find out.
However, we expected this, the timing is exactly as predicted. Read full
article ‘
Tea
Party hypocrisy Fueled by populist anger, but hijacked by plutocrats.
(Washington Post) [ Ah, sweet Mr. Milbank. His love for wobama knows no bounds.
Yet, given the choice between hypocrisy and inveterate lying, assuming
arguendo, Mr. Milbank’s premise to be true (doubtful and I think most would say
no), most would take hypocrisy any day. By now, most have realized that at best
wobama’s a b***s*** artist, and at worst, an incorrigible liar; certainly as
measured by his campaign promises that got him elected, belied by his actions.
If Mr. Milbank had only said the nation’s been hijacked by plutocrats to whom
wobama’s paid homage, I’d certainly agree in part. After all, there has been
and continues a huge wealth transfer at the expense and to the detriment of the
middle class, to the substantial benefit of the ‘plutocrats’ who in america are
of that small percentile criminal class for whom everyone else must (and must
be) sacrifice(d), ie., the wall street frauds, military industrial complex,
government contractors, etc.. And, yet another casualty … if wobama’s
peace-prize is not revoked, then that ignoble nobel thing should be disbanded
for lack of credibility and moral compass.
Deal
fails to soothe foreign critics
(Washington Post) { Let’s not kid outselves! I consider Russia a
rational, great nation (their painful, yet peaceful transition from their
mistake is a testament to their greatness as a people / nation and Gorbachev
particularly – China’s recent success is as far from communism as can be
imagined) and have high regard for Putin though lamenting his youthful, albeit
inherited indiscretion (kind of like that Tiger hunt which he’s now wisely
disavowed) in dabbling in the failed system of communism (the great lie where
everybody’s equal except some are more equal than others, ie., party members,
bureaucrats, etc., kind of like america today with the addition of the
plutocratic wealthy thieves, criminals, frauds, etc.). That said, most of these
so-called ‘foreign critics’ fall predominantly into either of two categories; viz.,
‘pots calling the kettle black’, or ‘enablers’. Putin
Calls U.S. a “Parasite,” Demands New Reserve Currency Activist Post The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (Washington Post) [ Riiiiight! It’s
everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s
meltdown according to wobama aficionados / intractable wobama apologists,
Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s
personal character flaws (among many unmentioned) to exculpate the failed
president wobama. Wobama’s failed miserably and yet had the easiest act in the
world to follow in the persona of fellow failed president war criminal dumbya
bush whose failed policies up to the real start of the election cycle he’s
largely followed. After all, Mr. Robinson, how different really are the parties
these days when profligate spending on illegal, unnecessary wars was continued
when democrats controlled congress, and then even the executive office when
continuing failed president and war criminal dumbya bush’s nation bankrupting,
nation destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Drudgereport:
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40%
APPROVAL...
Obama takes
debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most
importantly, realize that if wobama’s actions had not belied his words/campaign
promises, the nation’s position, though still ominous, would have been
substantially improved.
White
House turns attention to blacks Focus comes amid a growing concern that
economic conditions might hamper black voter turnout. (Washington Post) [ As if
we couldn’t see that coming. Yet, the ‘make-work, make-shift’ jobs already
extant in the federal, state, local ‘public service’ sectors along with the
otherwise unemployable at, ie., the u.s. postal service, etc., are uneconomic
and overly costly (Drudgereport: Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job... ) at best and downright wasteful at worst, the latter
being the most prevalent scenario. Moreover, despite the rhetoric, blacks will
always ‘back the black’. No criteria. No analysis. ‘Back the black’ their
despoiling cry. I think wobama and holder are probably more concerned with
making sure the ‘black panthers’ are in full force at the polls to intimidate
white voters, which racism they’ve given ‘carte blanche’, protection from
prosecution … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims '. With wobama et als, the jive-talking b***s***
never ends! N.Y.
bumped from foreclosure panel Iowa’s attorney general says N.Y. official
“actively worked to undermine” group’s efforts in foreclosure negotiation with
banks. (Washington Post) [ Yeah! No surprise here! Yet new jersey’s
‘representative’ would have been equally disingenuous in corruptly carry out
his / her duties, so ‘doody-full’ are they, from there! “It doesn’t make sense
that an agency responsible for investigations would want to get rid of
potential evidence…’ [ Oh but it does make sense Sen. Grassley: Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman ] Details
of Obama’s jobs plan emerge (Washington Post) [ Oh come on! Too little, too late for ‘wobama
the b’ (for b***s***), the eternal campaign(er) … he’s got a ‘good rap’ … that
rapper ‘wobama the b’ (for b***s***).
Really! He’s a total embarrassment out there on the campaign trail; and
just as much an embarrassment for those who turn out to see him … maybe he’s
somewhat of an allure as in a freak show. He’s a total joke! To be finally
talking jobs and things just before the election having broken previous
campaign promises in his failed role as ‘bush failure 3’. Even his pension is
undeserved so much a fraud is he! Black
caucus: Tired of making excuses for Obama [ They are not alone! ] Washington
Examiner | A key member of
the Congressional Black Caucus says they don’t pressure President Obama because
he is loved by black voters. Obama ‘Takes More Vacations Than Any Human Being I’ve
Ever Seen’ Fox News | “Here we have a country that really is going
to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s,
Says Gallup CNS News | Obama’s politically charged but taxpayer
funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84%
Drudgereport: BLACK
CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s
b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be
taken in by their b***s***; they’ll ‘back the black’ every time,
regardless! ]New
low of 26% approve of Obama on economy...
Inflation
builds...
FOOD PRICES
RISING...
UNEMPLOYMENT
UP...
OBAMA TO LAY
OUT JOBS PLAN -- AFTER VACATION...
'Takes More
Vacations Than Any Human Being I've Ever Seen'...
Commiserates
with jobless, then off to the Vineyard...
Even
that italian, belafonte, isn’t buying ‘wobama brand(ed)’:
Drudgereport: HARRY
BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama’s actions had not belied his
words/campaign promises, the nation’s position, though still ominous, would
have been substantially improved.
What’s
Apple without Steve Jobs? Jobs has
the knack of knowing what people want before they do. Can Apple stay ahead of
the curve? (Washington Post) [ Without disparaging the company nor the
remaining employees, what can be said of Apple with certainty in response the
foregoing question is: ‘LESS’. That said, there couldn’t have been a more
propitious time for the great (without even a tinge of sarcasm – among the
relatively few great CEO’s in corporate history) Steve Jobs to leave. Steve Jobs
resigns from Apple, Cook becomes CEO - SAN FRANCISCO (Reuters) -
Silicon Valley legend Steve Jobs on Wednesday resigned as chief executive of
Apple Inc in a stunning move that ended his 14-year reign at the technology
giant he co-founded i... [ Far more than just a ‘Silicon Valley legend’, Steve
Jobs literally saved Apple from extinction … I’m truly glad he saved Apple, my
first computer (1986 - apple IIc for word processing / data based records /
forms / templates / data which I interfaced with an electric typewriter for
letter quality) and for that all should be thankful. Apple is the Nasdaq (40%
weighting) and quite more, that now was! That’s past tense. Steve Jobs goes out
a big winner as indeed he should! Yet, make no mistake, as one might expect,
his timing was impeccable inasmuch as without his uniquely inspired innovation,
competition moving in, and particularly the coming debacle / crisis the worst
of which lies ahead, things are not looking up, in and for pervasively corrupt
/ defacto bankrupt america particularly, euphemistically speaking. ] End Of
Cycle Smelling Like Dow 3K, Gold 3K Forbes
/ Bill Bonner
… ‘Our view [ the correct
view ] is that the bear market began in January 2000. The feds fought it off
with two huge extravaganzas of spending — the first beginning in 2001 the other
after 2008. Stimulus does wonders for stock prices but it no longer works for
the economy that sustains them. For every dollar that the Fed has put to work to
fight the crisis since 2008, for example, it has produced only 80 cents worth
of GDP. It didn’t work……that the recession of ’08-’09 in the US never actually
ended……and that stocks will go down over the next 5-10 years until they finally
hit a real bottom…’
Robinson:
King’s dream remains unrealized (Washington Post) [ Yeah! That ‘content of
their character’ thing’s a b***ch to live up to … just don’t measure up! What’s
a white person to do, especially when black atty. General Holder with fellow
black Obama’s tacit approval is racist himself (themselves) UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims '. Drudgereport:
'Mob' beatings at WI state
fair...
'Hundreds of
young black people beating white people'... [ Typical… ]
Fairgoers 'pulled out of
cars'...
'They were
just going after white people'...
Heightened
security...
[ .. (the following incident is my personal
experience: black perps, white victims)‘.. while walking through Military Park
(a sliver of a “park” - more a pedestrian thoroughfare/cement walks) in newark,
new jersey on the way to the bank during lunch hour, I heard the clearly
audible screams/cries of what turned out to be an old lady on the ground with
blood streaming from her mouth. I ran toward the sound of the cries, the source
of which I could not see because there were so many people in and about this
thoroughfare so as to block any vision of the source of the cries. When I came
to the woman, on the ground, blood streaming from her mouth, I asked what
happened, to which she responded she had been hit in the mouth and knocked to
the ground, her purse stolen/put inside her shopping bag, and she pointed out
the criminal casually now walking across the main street. Nobody stopped to
help her, many having passed her by. I slammed the thug to the ground so hard
that, in light of all the blood and confusion (limbic system / adrenalin flow)
I thought I had been stabbed (the blood was from his elbows hitting the
pavement so hard - no one helped / a crowd gathered / an undercover cop
happened along). When I testified at the Grand Jury Proceeding I made sure his
threat on my life was set forth in prima facie fashion so as to maximize the
DA’s position with both felonies ( he went to prison – pled out ). The other
case I wrote about here ( This was included on my website in the Psychology
forum discussion of ‘bystander effect’ / diffusion of responsibility. ) -
Having had occasion to have run down a mugger in newark, n.j. who apparently
had followed a girl from the bank on her way to the bursar to pay tuition,
though in pretty good shape, I was astounded by how totally exhausting such a
pursuit was, how much like rubber my arms were when I traded punches with the
perpetrator, and truth be told, if I had a flashlight on my belt, I have little
doubt that I would have probably used it to subdue the perp (a police officer
here in California was the object of intense criticism for having used a
flashlight to subdue a criminal after a long chase so I included that here) .
The girl was not that seriously injured, did get her pocketbook and tuition
back, and the criminal went to jail (where they belong). The other thing about
such a pursuit that amazed me was that no one else assisted the girl or me
despite being in a position to do so. I was also mugged by 4 blacks and 2
hispanics in an incident here in Los Angeles, CA. But, to be fair and balanced,
the RICO litigation involves those uncivilized who consider themselves ‘whites’
http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
(predominantly but not exclusively jews / romans-italians / mobsters /
government slugs). ]
Banks
are dimming Europe’s outlook Still restructuring after the 2008 crisis,
euro-zone banks face new concern about their stability. (Washington Post) [ And
not just europe’s outlook … How
stable is the banking industry?. (Washington Post) [ Not too! … as if
anyone should need remindin’! After all,
a depression is that ‘lowering tide that grounds all boats’ (the converse of
that word picture I like to use in analysis of securities wherein focus on the
macro environment, the economy, the largest aggregate enhances your
probabilities of success on the theory / cliché ‘a rising tide lifts all boats’.
Clearly, simplistic wisdom that is true.) The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Train
Reading: The Stock Market Is Insane
The Wall Street Journal , Welcome
To The New Bear Market For Stocks
Forbes / Suttmeier
, Dow/Gold
Ratio Lowest Since 1987 Crash Forbes /
Adrian Ash , Ignore
Buffett's Advice, Don't Buy Stocks Forbes
/ Dohmen , The
"Crimes" That Wrecked The Markets Forbes /
Lenzner , Tech
Leading Market Lower The Wall Street
Journal , Banks
closed in Fla, Ga, Ill; 2011 total is 68 , No
Recession Coming ... It's Already Here Previous:8-18-11 Stocks rally off lows to suck
suckers in and keep suckers sucked in on bad news (Jobless
Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says Crimes
Wrecked The Markets ), and
b***s*** alone! MKM
Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com, WHY NEW
LOWS ARE LIKELY 8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011
Gayed ‘A real bear market
has begun …’ ,
Abandon Ship?[The USS
Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,
There's
A Recession Coming According To The Data
The
following is my comment to an LA Times article regarding a Justice Department
cover-up! As for your inquiry, all I think about day and night is a long
overdue resolution to the RICO litigation as set forth therein:
I
believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October
15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5
pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as
fbicorrespondencereyes.htm . With regard to
the calls to the FBI’s LA and New Haven, CT offices: There was one call to the
LA office and I was referred to the Long Beach, CA office where I personally
met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of
the money laundering which he confirmed as indicative of same (he was
transferred from said office within approximately a month of said meeting and
his location was not disclosed to me upon inquiry). The matter was assigned to
FBI Agent Ron Barndollar and we remained in touch for in excess of a decade
until he abruptly retired (our last conversation prior to his retirement
related to the case and parenthetically, Rudy Giuliani whose father I stated
had been an enforcer for the mob to which he registered disbelief and requested
I prove it, which I did – he served 12 years in prison, aggravated
assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew
Maloney’s the one that prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of the
federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely
and Regards,
Al
Peia
U.S.
stocks end volatile week in the red (Washington Post) [The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Train
Reading: The Stock Market Is Insane
The Wall Street Journal , Welcome
To The New Bear Market For Stocks
Forbes / Suttmeier
, Dow/Gold
Ratio Lowest Since 1987 Crash Forbes /
Adrian Ash , Ignore
Buffett's Advice, Don't Buy Stocks Forbes
/ Dohmen , The
"Crimes" That Wrecked The Markets Forbes /
Lenzner , Tech
Leading Market Lower The Wall Street
Journal , Banks
closed in Fla, Ga, Ill; 2011 total is 68 , No
Recession Coming ... It's Already Here Previous:8-18-11 Stocks rally off lows to suck
suckers in and keep suckers sucked in on bad news (Jobless
Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says Crimes
Wrecked The Markets ), and
b***s*** alone! MKM
Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com, WHY NEW
LOWS ARE LIKELY 8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011
Gayed ‘A real bear market
has begun …’ ,
Abandon Ship?[The USS
Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,
There's
A Recession Coming According To The Data at Forbes , HP, Dell
hammered as tech-spending outlook darkens JDSU, NetApp, disappointing figures, shares hit hard in
after-hours trade Dell braces investors for a bumpy road Dell makes a case on
why it can better weather an upcoming storm
, S&P
says sell Google's shares after Motorola deal , STOCKS
FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know Joe Weisenthal , Stocks
Slip On Concern Over Europe's Debt, U.S. Data , Watch
Out: 2011 Looks A Lot Like The Market Top In 2007
Sean Hanlon Take
A Lesson From 2007 And Sell Stocks Now at
Forbes, [video]
Trader: We Could Test 1120 Lows at
TheStreet.com In
a Downtrend, Sell a Rally (Daily FX) Latest:
Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here. Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com) Five
Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing
Charts. (Newsmax.com) US Recession Is
Guaranteed: Expert CNBC. Harry Dent, Jr.
Economy will be in a Depression by 2011
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at
the latest.
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between
2010 and 2012). Dow
1000? Robert Prechter Thinks So Prechter
Reiterrates Call For Dow 1,000, Even As Surging Gold And Plunging Dollar Leave
Much Credibility To Be Desired Bulls
Go to Extremes: Don't Buy the "Breakout", Sell It, Prechter Says Russell:
This Is One Of The Largest Tops In Stock Market History My old friend, Bob Prechter, is talking about Dow 400. I
used to think this was an absurd joke. I no longer think it’s a joke. The
ultimate result will be a primary bear market shocking in duration and extent.
…’ Forecasts
from Dent, Napier, and then Prechter: Depression
is Imminent The Dow Jones Industrial Average will go down to at least 1000,
most likely to below 777 which was the starting point of its mania back in
August 1982, and quite likely drop below 400 at one or more times during the
bear market. [ 8
More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has
Lost Its AAA Credit Rating The Economic Collapse ‘…
#8 The U.S. national debt continues to get worse by the
day. Just check out what economics
professor Laurence J. Kotlikoff recently told NPR….“If you add up
all the promises that have been made for spending obligations, including defense
expenditures, and you subtract all the taxes that we expect to collect, the
difference is $211 trillion. That’s the fiscal gap” ..’ Why
You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The
market is building momentum to the downside’.]
Experts:
Recovery might take a while If this crisis follow the pattern of similar
ones, it may be one of the most difficult in U.S. history. (Washington Post) [
Duh! Ya think! Dow/Gold
Ratio Lowest Since 1987 Crash Forbes
Adrian Ash ‘Today’s gold
buyers might still get to look early birds as this depression wears on… GROWTH or defense…stocks or gold? Intra-day noise aside in summer 2011,
Mr.Market’s choice looks plain.
The Dow/Gold
Ratio – a measure of the U.S. stock market’s valuation in ounces of gold – has
sunk as equities have plunged but gold prices have jumped
so far this summer.
Dropping
through 6.0 ahead of Friday’s New York opening, the Dow/Gold Ratio hasn’t been
this low since early 1989, back when world equity markets were recovering from
the Great Crash of Black Monday 1987.
http://goldnews.bullionvault.com/files/DowGoldviii11.png
That slump
itself had taken the Dow/Gold Ratio all the way down to 3.6, with gold prices
rising to nearly $500 per ounce as the Wall Street index sank to 1776 points.
Growth, of course, was only taking a pause in late 1987 – a quick breather
before the real race to perfection of the late 1990s. Today, in contrast, the
Dow/Gold Ratio could still go a lot further down. Or so says history.
Trading a
little over its century-long average of 10.0 today, the ratio bottomed during
the 1930s Great Depression at just below 2.0 ounces of gold for one Dow unit.
At the nadir of the next global depression – the inflationary depression of the
early 1980s – the Dow/Gold Ratio sank even lower, down to 1.0.
Whatever
flavor of depression we’ve got at the start of this decade – and it is a depression, as Western jobs data continue to show
and as the Dow/Gold yardstick will confirm if it goes much lower (keep an eye
on the underperformance of gold mining equities, too) – a growing flow of
private savings is choosing defense in gold bullion rather
than choosing business-risk in listed stocks.
That choice
might sound self-fulfilling if you work in psychiatry or government, a kind of
“clinical disorder” open to curing with medication, zero interest rates or perhaps
a third round of quantitative easing – most likely aimed at risk assets, we
guess, rather than the “risk free” Treasury bonds targeted by QE1 and QE2 – and
which institutional investors are all-too keen to hold anyway.
So far,
however, investors choosing to buy gold only account for a
tiny portion of the money fleeing equities.
From here to a
true depression low in Dow/Gold (if such a level is reached), today’s gold
buyers will need to find many more friends. They’d also look early-birds
compared with the rush out of stocks – and into gold – needed to reach that 2.0
or 1.0 mark.’
BlogPost : Jon Stewart attacks Fox 'class warfare'
...Warren Buffett (Nati Harnik/AP) After Warren Buffett’s New York Times Op-ed
called for a tax on the.. (Washington Post) [Ignore
Buffett's Advice, Don't Buy Stocks at
Forbes Bert Dohmen [ Yeah … this is
really good advice. As a shill for fraudulent wall street, they may have given
him some ‘stellar performances and cash to boot’; but, the homespun bumpkin
senile buffet’s analytical abilities, if ever really extant, have certainly
passed the point of no return. You may recall how the clintons, with a mere
$1,000 or so, were revealed as ‘commodities trading wizards’ (turned into in
excess of $100,000 or so), but as written up in the Wall Street Journal
‘someone was giving them money’. In fairness, that they were singled out (was)
is a bit arbitrary inasmuch as that’s going on all the time on wall street, and
now with greater precision owing to greater computer programming capabilities,
to everyone else’s detriment. Remember, in a manner of speaking, there are two
sides to every trade, viz., winner and loser (in relative terms).] ‘The
markets plunged going into August 8. On that day, the DJI closed with a loss of
629 points. My indicators signaled that a brief bounce would commence the next
day. According to the charts, the first target for the S&P 500 was 1205.
The target was hit exactly a few days later. That was followed by a renewed
plunge.
I have been
looking for a serious crisis to start in September. It appears that we have
seen the prelude for that. The big smart money has been preparing for the past
five months.You can see the “distribution pattern” on the charts since
mid-February. The rush to the exits is now accelerating and the smart money has
been selling short in large amounts.
The extreme
bullish sentiment that prevailed until the latest plunge was first replaced by
complacency, then by concern. However, the “fear” stage is still missing,
except at hedge funds that were forced to sell because of margin calls. In
fact, during the severe plunge in the first week of August, investment
investors became even more bullish according to Investorsintelligence.com. That
is not good for the markets.
The market
negatives are increasing in numbers. The IPO window is now shut. There are
signs that credit is once again vanishing. Loans are being called in, some
companies appear to have difficulties rolling over their Commercial Paper, junk
bonds yields are soaring, European banks may stop lending to each other, and
the European crisis is spreading out across the globe. It’s my view that this
will cause another credit crisis, just as in 2008.
What’s worse
is that contrary to 2008, the big players learned to read the signs from their
2008 mistakes. They are now wide awake, although in the media, their minions
still repeat the same bullish fairy tale. This means that this crisis could
develop much faster than the last one. (Read my book, Financial
Apocalypse, which is the
2008 roadmap, one which can be used very well for what is now happening.)
The words “possible
recession” suddenly is being mentioned a lot in the media, although economists
still strongly deny that possibility. Our rule is that the stronger their
denials, the more certain and the deeper the recession will be. In fact, I
declared in our May 9 issue of the Wellington Letter that the recession had
started.
Morgan Stanley
lowered its global GDP growth forecasts for 2012 from 4.5% to 3.8%. My forecast
is for 1%-2% or less. It would be negative growth except for the fudged
inflation numbers.
The European
politicians are not any smarter than those in the U.S. Merkel and Sarkozy had a
meeting in Paris and did nothing. That day I called the outcome “Disastrous”
for the markets. It took the markets a day to digest the consequences and then
the selling avalanche started. Many of the markets in Europe, led by the banks
stocks, went into virtual free falls, losing from 4%-7% in one day. Such losses
indicate an approaching crisis.
Now we see
some of the well-known Wall Street figures appearing in the media, telling
investors all the reasons why stocks are a good buy. One appeared with a long
list of bullish factors. Well, that list didn’t prevent the global stock market
from losing an incredible $6 trillion over the past several weeks. He did the
same cheerleading on national TV in 2007 before investors lost 50% of their
wealth.
Warren Buffett
is also once again the cheerleader saying he is buying stocks. He did that in
2007-2008 as well, and then the meltdown started later in 2008.
I would not
fall for this self-serving advice. Words cannot rescind a recession that we
already have, it cannot stop the insolvency of entire countries in Europe, it
can’t change the fact that major profit downgrades will appear soon, and it
can’t stop the China crisis that is now starting.
Gold is
soaring, but the mining stocks look terribly weak. There is great danger now
with the gold stocks getting hit hard by less developed countries, including
South Africa, to nationalize gold mines. This is too lucrative for them to
resist.
I would get
out of all money market funds unless they are “U.S. government only.” The
MMFs have big exposure to European banks. We believe that lending between banks
in Europe may seize, which means that the whole structure will start shaking.
You will start hearing the word “contagion.”
In my opinion,
the danger period is approaching. What we have seen until now is just a
“preview.” The main feature is likely to be worse.
Bert Dohmen is
editor of Bert Dohmen’s
Wellington Letter and author of Prelude To Meltdown (2007) and Financial Apocalypse (2011).’
Dollar
down against major currencies Global investors are becoming antsy about the
dollar’s role as the currency at the core of the world’s financial system. (Washington Post) [ Antsy? At this point, if it was only just
‘antsy’ there’d be room to hope. Despite the understatement, this is now way
beyond ‘antsy’. Reality counts! For
first time, U.S. credit rating cut from AAA Standard & Poor’s announces
that it has downgraded U.S. government debt to AA+, dealing a huge symbolic
blow to the world’s economic superpower in what was a sharply worded critique
of the American political system. (Washington Post) [ Come on! Let’s get real
here! Symbolic? If it were only that. If it were only the american political
system, there’d at least be a plausible reason for hope, albeit futile even at
that. Indeed, pervasively corrupt, defacto bankrupt america, literally causing
destruction domestically and internationally, is a testament to the failure of
the american system generally, or more specifically what it has devolved into.
Whatever america was and purports to be, it certainly doesn’t take a PhD in
Poli Sci to know, ‘it ain’t that no more’. Moreover, the ‘genie’s out of the
bottle’ and try as they may, like ‘trying to put toothpaste back in the tube’,
or ‘unringing the bell’, perceptions of america will never be the same in the
most negative but realistic and factual sense; that is, beyond the propaganda,
efforts at censorship, and spin. Those ‘propaganda dogs don’t hunt no more.’ I
can further say that in america, by close observation and direct experience
(with more than sufficient representative sampling), I’ve seen and experienced
the worst of human nature; behavior so egregious so as to defy any known norms
of civilized behavior. Quite simply, there is no excuse for america! Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ America’s
shine is wearing off
The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (Washington Post) [ Riiiiight! It’s
everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s
meltdown according to wobama aficionados / intractable wobama apologists,
Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s
personal character flaws (among many unmentioned) to exculpate the failed
president wobama. Wobama’s failed miserably and yet had the easiest act in the
world to follow in the persona of fellow failed president war criminal dumbya
bush whose failed policies up to the real start of the election cycle he’s
largely followed. After all, Mr. Robinson, how different really are the parties
these days when profligate spending on illegal, unnecessary wars was continued
when democrats controlled congress, and then even the executive office when
continuing failed president and war criminal dumbya bush’s nation bankrupting,
nation destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Drudgereport:
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40%
APPROVAL...
Obama takes
debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most
importantly, realize that if wobama’s actions had not belied his words/campaign
promises, the nation’s position, though still ominous, would have been
substantially improved.
A
win for opponents of SEC’s new rules Court decision could spell trouble for
the agency as it puts in place some of the most far-reaching financial
regulations in years. (Washington Post) [ Oh come on! The biggest frauds in the
multi-trillions have been hands off despite the campaign promises to the
contrary. The u.s. courts are so corrupt, it’s doubtful they’d rule against
‘the big money’. That they don’t understand the economics / finance is
irrelevant to them; as is also so of the law and the facts which they probably
understand but ignore anyway. The most important consideration should be what
is obvious to all; viz., that the way things were not only facilitated the
fraudulent schemes that have brought down the nation, but will continue
prospectively as the frauds on wall street have been emboldened by the lack of
enforcement / prosecution. That said, there’s corruption thoughout the ranks of
the pervasively corrupt american government.
. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book ‘Goombata:
The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Rubin:
Fed to the country: the economy stinks
‘…information
received since the Federal Open Market Committee met in June indicates that
economic growth so far this year has been considerably slower than the
Committee had expected. Indicators suggest a deterioration in overall labor
market conditions in recent months, and the unemployment rate has moved up.The
report adds: “The Committee now expects a somewhat slower pace of recovery over
coming quarters than it did at the time of the previous meeting and anticipates
that the unemployment rate will decline only gradually toward levels that the
Committee judges to be consistent with its dual mandate.”
(
What
can the Federal Reserve do? With the
.. Bernanke’s
results .. since Ben took the reins:
Feb ’06 –
April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
..
The standard unemployment rate most often used by the Fed is currently at 9.1%,
up 90% since Bernanke started. The more inclusive (realistic) U6 number
stands at 15.8%, up 75% in the same period. The Civilian Participation
Rate has declined 2.87% to 64.2%.
This is the
lowest level the
In conclusion,
it is evident that Ben Bernanke is failing his mandates. We believe it
must come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding.
Matt Marcewicz
& Robert Barone, Ph.D.
.. ‘
Obama
plans to preserve federal mortgage role The president’s decision to preserve
a major role for the government marks a big milestone in the effort to craft a
new housing policy from the wreckage of the mortgage meltdown. (
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Poll: Sharp dissatisfaction with D.C. The public doubts the government can fix the nation’s economic problems, Post poll shows. An unlikely landlord: Uncle Sam (Washington Post) [ No surprise there (the doubts)! Uncle Scam as landlord? Sounds like a typical scam / fiasco / debacle in the making! Add limey (brits)-looking (green) frogs (french) to the mix(ed up) in the pervasively corrupt defacto bankrupt disunited states Italy unveils plan to calm fears of escalating crisis (Washington Post) [ Yeah, dem piigs were back in the news. ’ Dem PIIGS still got problems. Europe’s debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it here except the punch line): ‘That’s black bart’s girl’. Pelosi: ‘We are not Greece’ ( but greecy Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close call! There you go. Nothing to worry about now that wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Deficits And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long time. US Is in Even Worse Shape Financially Than Greece: Gross When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday. Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while other estimates exceed $100 trillion (these amounts are insurmountable) …’ Famed economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to political desperation
Economy
central as Obama starts tour With some of his harshest words yet, president
criticizes GOP candidates on taxes, debt. (Washington Post) [ The eternal
campaign(er) … he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for
b***s***). Is
Obama’s fate written in numbers? Recent economic data amounts to a
formidable headwind for any incumbent president hoping for a second term. And
Democrats worry time is running out. (Washington Post) [ Let’s just say the
fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s
done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif . ‘Don’t cry for him new argentina, the truth
is he really screwed you’ … well you know that familiar theme and can ad lib,
insert your own words!
It’s
still Obama’s party Why he won’t face a primary challenge: Republicans and
racial politics. (Washington Post) [
It’s true … so right you are! Al Gore’s even pitchin’ in by donating the
talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a song
in wobama’s honor (kidding) which goes something like this , ‘It’s his party
and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you would
cry too, if obama happened to you … Well, there you go … if the song says it it
must be true. Yeah! And those dern republicans and their racial politics … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims' – Time to get whitey, at last, at last, etc., say
holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger,
the mobster, either!’
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Robinson:
Obama won the Iowa Straw Poll (Washington
Post) [ Oh riiiiight! What, on the theory that so long as you don’t hear wobama
the b’s (for b***s***) words which invariably belie his actions or non-actions,
it’ a victory for wobama? I don’t think so; nor does the overwhelming,
including the unpolled, majority! Is
Obama’s fate written in numbers? Recent economic data amounts to a
formidable headwind for any incumbent president hoping for a second term. And
Democrats worry time is running out. (Washington Post) [ Let’s just say the
fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s
done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif . ‘Don’t cry for him new argentina, the truth
is he really screwed you’ … well you know that familiar theme and can ad lib,
insert your own words!
It’s
still Obama’s party Why he won’t face a primary challenge: Republicans and
racial politics. (Washington Post) [
It’s true … so right you are! Al Gore’s even pitchin’ in by donating the
talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a
song in wobama’s honor (kidding) which goes something like this , ‘It’s his
party and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you
would cry too, if obama happened to you
… Well, there you go … if the song says
it it must be true. Yeah! And those dern republicans and their racial politics
… UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims' – Time to get whitey, at last, at last, etc., say
holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger,
the mobster, either!’ The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (Washington Post) [ Riiiiight! It’s everything
but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s meltdown
according to wobama aficionados / intractable wobama apologists, Messieurs
Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s personal
character flaws (among many unmentioned) to exculpate the failed president
wobama. Wobama’s failed miserably and yet had the easiest act in the world to
follow in the persona of fellow failed president war criminal dumbya bush whose
failed policies up to the real start of the election cycle he’s largely
followed. After all, Mr. Robinson, how different really are the parties these
days when profligate spending on illegal, unnecessary wars was continued when
democrats controlled congress, and then even the executive office when continuing
failed president and war criminal dumbya bush’s nation bankrupting, nation
destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Drudgereport:
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40%
APPROVAL...
Obama takes
debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
The
following is my comment to an LA Times article regarding a Justice Department
cover-up! As for your inquiry, all I think about day and night is a long
overdue resolution to the RICO litigation as set forth therein:
I
believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October
15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and the
District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5 pages)
[ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as
fbicorrespondencereyes.htm . With regard to
the calls to the FBI’s LA and New Haven, CT offices: There was one call to the
LA office and I was referred to the Long Beach, CA office where I personally
met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of
the money laundering which he confirmed as indicative of same (he was transferred
from said office within approximately a month of said meeting and his location
was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron
Barndollar and we remained in touch for in excess of a decade until he abruptly
retired (our last conversation prior to his retirement related to the case and
parenthetically, Rudy Giuliani whose father I stated had been an enforcer for
the mob to which he registered disbelief and requested I prove it, which I did
– he served 12 years in prison, aggravated assault/manslaughter? – and no,
there is no Chinese wall of separation – Andrew Maloney’s the one that
prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely
and Regards,
Al
Peia
Show
us your debt plan A challenge to the president, his opponents — and you.
(Washington Post) [ Come on! This is disingenuously rhetorical. At the least,
you look at reality. Pervasively corrupt, defacto bankrupt america’s growth
days (and hence those rosy assumptions) are gone forever. Second, you begin
with the amount that must be cut to avoid further dollar debasement among other
obfuscating gimmicks which worsen the dismal scenario ($3 trillion over 10
years doesn’t come close to doing it). Thirdly, those responsible must be held
accountable (and meaningful law must count for all!). 8 More Reasons Why You Should Be Deeply Concerned That
The U.S. Government Has Lost Its AAA Credit Rating The Economic
Collapse ‘… #8
The U.S. national debt continues to get worse by the day. Just check out
what economics
professor Laurence J. Kotlikoff recently told NPR….“If you add up
all the promises that have been made for spending obligations, including
defense expenditures, and you subtract all the taxes that we expect to collect,
the difference is $211 trillion. That’s the fiscal gap” ..’ Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in
2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion.
USA Inc.'s 2010 deficit was $1.294 trillion.The 2011 federal budget is $3.7
trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for
unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion,
PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while
other estimates exceed $100 trillion (these amounts are insurmountable) …’ Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its inevitable
cheap financing can allow companies to start cobbling each other up. Further
Ben's policies allow companies like IBM to sell bonds at 1% and buy back shares
with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell
Markets
begin week on calmer note The positive results showed that the markets may
be able to hang on to their gains. (Washington Post) [ The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! So what’s changed of significance (other than the
full moon and consequent effects on the lunatic wall street frauds Train
Reading: The Stock Market Is Insane
The Wall Street Journal ).
Nothing! Stocks rally on bad news, fraud,
and b***s*** alone! 3
Reasons Markets Finished Up For the Third Straight Day Wall St. Cheat Sheet 1) U.S.
economic data. According to the National Association of Home Builders, builder confidence
in the market for newly built, single-family homes – the National
Association of Home Builders/Wells Fargo Housing Market Index – was unchanged
in August at a low level of 15. Also being reported today was an assessment of
New York-area manufacturing activity, which declined for the third consecutive
month and fell short of economists’ expectations.. 2) Japan. [Come on ... If
the ‘meltdown’ proved anything it’s that Japan’s as bad as america in dealing
with and reporting reality.] Japan’s
economy
contracted less than expected in the second quarter, despite a huge blow to
industry and production dealt by the March 11 earthquake and tsunami. Gross
domestic product declined at an annualized rate of 1.3% in the quarter ending
June 30. Economists had forecast a 2.5% decline.. 3) Crude futures. After
tumbling considerably over the past few weeks, crude-oil
futures began to recover today. Crude for September delivery climbed roughly
3% today on the New York Mercantile Exchange, giving energy stocks a boost.
Exxon Mobil , BP , Marathon , and Chevron all gained over 3% today …’ In
a Downtrend, Sell a Rally (Daily FX) Latest:
Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here. ‘Aftershock’ Book Predicts Economic Disaster Amid
Controversy Disturbing
Charts Show Economic Meltdown in 2012. See the Evidence. (Newsmax.com)
Five
Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing
Charts. (Newsmax.com) US Recession Is
Guaranteed: Expert CNBC.com
Europe’s
crisis and the psychology of fear (Washington Post) [ Given the reality and
magnitude of Europe’s problems going forward, dwarfed only by the magnitude of
those of pervasively corrupt, defacto bankrupt america, it brings to mind the
words of the former Intel CEO (co-founder) Andy Grove ‘ Only the paranoid
survive’ (of course, having survived the Nazis and escaped Communist-controlled
Hungary in Europe, as a jew, one has to assume his perspective / outlook was
somewhat ‘skewed’ thereby). Yet, let’s not kid ourselves to the point where
virtual survival is threatened and at stake as is so for the EU. America
isn’t alone in the downgrade spiral (WP) Indeed, the EU has followed the
contra-indicated perma war, evermore worthless Weimar currency, and a
predispositon / tacit acceptance of paper securities schemes / scams / frauds
which are integral to america’s ongoing, albeit obfuscated, debacle / crisis
which given the unfunded debt load pegged at $211 Trillion among other
estimates, is insurmountable and will end quite badly. Poll:
Sharp dissatisfaction with D.C. The public doubts the government can fix
the nation’s economic problems, Post poll shows. An
unlikely landlord: Uncle Sam (WP) [
No surprise there (the doubts)! Uncle
Scam as landlord? Sounds like a typical scam / fiasco / debacle in the making! Add limey
(brits)-looking (green) frogs (french) to the mix(ed up) in the pervasively
corrupt defacto bankrupt disunited states
Italy
unveils plan to calm fears of escalating crisis (WP) [ Yeah, dem piigs were back in the news. ’ Dem PIIGS still got problems. Europe’s
debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close
call! There you go. Nothing to worry about now that wobama’s got a boehner … so
not to be so hard on them; if pelosi says it, it must be true … Not!
…Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey
to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all
know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey
PIIGS they’ll be back to the trough for more … slop … py. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to
political desperation! Why
You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The
market is building momentum to the downside’.
Wall Street
closes worst week since '08 with wild day NEW YORK (Reuters) S&P
on U.S. downgrade: Debt pact 'falls short' - Reuters S&P
downgrades US credit rating from AAA S&P
Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet What
Recovery? Forbes ‘…we can’t call this a recovery. There’s no
reason to celebrate when a job report was better than expected. Why? Because
the expectation was abysmal to begin with. And while we’re at it, we can’t
ignore increasing sovereign debt problems in Europe…’ ‘Top
3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet
1) Japan and Europe 2) Unemployment.3) Capital goods - billions of
dollars in lost revenue. Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude
To Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis… My work shows that “the new
recession has started.”… Over the past 33 years, we have called the start of
every recession, often on the exact month, or within one month, of the official
start as determined one year later by the official arbiter of recession, the
National Bureau of Economic Research (NBER)… However, inflation is far
understated for political reasons. Currently, the GDP deflator is 1.8%, which
hardly reflects the true rise in prices. Therefore, what is counted as
“growth,” is actually price increases. Actual inflation, according to free
market economists who calculate inflation as it was done in 1980 before the
politician re-engineered it, is now more than 11%. Using that to adjust GDP for
inflation, would show that the economy is now in a very sharp
contraction…’FLASHBACK HERE: Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [
He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The
5-year high in the level of insider corporate stock sales is telling. At 565
sells for every 1 buy, it’s never been higher.
Krauthammer:
Our political system is working well (Washington Post) [ Wow! There was a time back
in the late sixties, early seventies when there were these long-haired people
chastised by the so-called ‘establishment’ that would have just loved to be
doin’ whatever it is that Mr. Krauthammer’s been doing to arrive at such a
conclusion, so glaringly devoid of any reality whatsoever. Psychedelics,
hallucinogens, magic mushrooms; what could it be that has brought Mr. Krauthammer
into this fantasy world where even ‘Alice’ of Wonderland fame might feel
comfortable in this netherland (sic) / netherworld created from the depths of
Mr. Krauthammer’s imagination. I’m truly at a loss for words. After all, the
warning by the underrated but great President General Eisenhower of the
impending inherent danger of the military industrial complex came to fruition
with the assassination of JFK and the reality of a coup d’etat thereby. All
presidents, along with the two remaining branches of the pervasively corrupt,
defacto bankrupt american government since have been at best stooges for such
as the military industrial complex, the banksters / frauds on wall street,
etc., to the substantial detriment of the vast majority in this country and throughout
the world (ie., perma wars, huge securities frauds still extant / now marked to
anything as per congressional FASB rule change, and unprosecuted. Beyond the
immediate reach, or at least ‘penetration’ of american propaganda, an
intelligent and astute individual, Legendary
Investor Jeremy Grantham: America is a Banana Republic Washington’s Blog | Just different
bananas perhaps? { Of course this is absolutely true! And not just from the
meaningfully lawless perspective – I had made such a statement on the record in
a LA Superior Court Appellate Dept. proceeding in which said court literally
ignored the law (the same is true of the costly, plushly accoutered lifetime
appointee federal courts) which courts should indeed be abolished in these
difficult economic / budgetary times. Additionally, from pervasive corruption,
to debased over-printed currency, to gunboat diplomacy, to total incompetence,
etc., america is indeed a banana republic at most. } I didn’t see the debates {what does it
matter what they say – the egregious ‘wobama the b’ (for b***s***) fatigue factor
/ experience} nor have I read Mr. Robinson’s article, ‘GOP
Debate Land’ but I’m sure I’d agree with his conclusion, ‘I didn’t recognize the America the GOP
candidates described;’ but unfortunately, I do recognize the pervasively
corrupt, defacto bankrupt america of ‘wobama the b’ (for b***s***), failed
president like his predecessor, moron war criminal dumbya bush, that he is. The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (WP) [
Riiiiight! It’s everything but ‘wobama the b’ (for b***s***) that’s to blame
for the nation’s meltdown according to wobama aficionados / intractable wobama
apologists, Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to
wobama’s personal character flaws (among many unmentioned) to exculpate the
failed president wobama. Wobama’s failed miserably and yet had the easiest act
in the world to follow in the persona of fellow failed president war criminal
dumbya bush whose failed policies up to the real start of the election cycle
he’s largely followed. After all, Mr. Robinson, how different really are the
parties these days when profligate spending on illegal, unnecessary wars was
continued when democrats controlled congress, and then even the executive
office when continuing failed president and war criminal dumbya bush’s nation
bankrupting, nation destroying war policies, protection for unprecedentedly
huge wall street frauds, bush tax cut extensions for the wealthy, and then some
(spending on top of it).
Drudgereport:
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40%
APPROVAL...
Obama takes
debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most
importantly, realize that if wobama’s actions had not belied his words/campaign
promises, the nation’s position, though still ominous, would have been
substantially improved.
Poll:
Sharp dissatisfaction with D.C. The public doubts the government can fix
the nation’s economic problems, Post poll shows. An
unlikely landlord: Uncle Sam
(Washington Post) [ No surprise there (the doubts)! Uncle as landlord? Sounds like a typical scam
/ fiasco / debacle in the making! Add limey (brits)-looking (green) frogs (french)
to the mix(ed up) in the pervasively corrupt defacto bankrupt disunited
states Italy
unveils plan to calm fears of escalating crisis (Washington Post) [ Yeah, dem piigs were back
in the news. ’ Dem PIIGS still got
problems. Europe’s
debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close
call! There you go. Nothing to worry about now that wobama’s got a boehner … so
not to be so hard on them; if pelosi says it, it must be true … Not!
…Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey
to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all
know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey
PIIGS they’ll be back to the trough for more … slop … py. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to
political desperation! Why
You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The
market is building momentum to the downside’.
Wall Street
closes worst week since '08 with wild day NEW YORK (Reuters) S&P
on U.S. downgrade: Debt pact 'falls short' - Reuters S&P
downgrades US credit rating from AAA S&P
Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet What
Recovery? Forbes ‘…we can’t call this a recovery. There’s no
reason to celebrate when a job report was better than expected. Why? Because
the expectation was abysmal to begin with. And while we’re at it, we can’t
ignore increasing sovereign debt problems in Europe…’ ‘Top
3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet
1) Japan and Europe 2) Unemployment.3) Capital goods - billions of
dollars in lost revenue. Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude
To Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis… My work shows that “the new
recession has started.”… Over the past 33 years, we have called the start of every
recession, often on the exact month, or within one month, of the official start
as determined one year later by the official arbiter of recession, the National
Bureau of Economic Research (NBER)… However, inflation is far understated for
political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects
the true rise in prices. Therefore, what is counted as “growth,” is actually
price increases. Actual inflation, according to free market economists who
calculate inflation as it was done in 1980 before the politician re-engineered
it, is now more than 11%. Using that to adjust GDP for inflation, would show
that the economy is now in a very sharp contraction…’FLASHBACK HERE: Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [
He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The
5-year high in the level of insider corporate stock sales is telling. At 565
sells for every 1 buy, it’s never been higher.
European
economies brace as Germany slows Discouraging news about the pace of growth
came just hours before German and French leaders called for new steps to impose
discipline on governments whose lax budget practices prompted the debt crisis.
(Washington Post) [ First, let’s call this economic scenario what it is; viz.,
the ‘d’ word … ‘depression’. For those who find that term unutterable, then
‘double-dip recession’ is the term for you. All the dollar debasement
(over-printing, etc.) for the benefit of the frauds on wall street et als to
the substantial detriment of everyone else can’t change and has exacerbated and
obfuscated this fact. Moreover, there has been a manipulated churn-and-earn high-frequency
trading bubble-bull cycle in what is unmistakably a secular bear market. Famed economist
predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com) ‘Robert Wiedemer’s new book,
“Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown,”
quickly is becoming the survival guide for the 21st century. And Newsmax’s
eye-opening Aftershock Survival Summit video, with exclusive interviews and
prophetic predictions, already has affected millions around the world — but not
without ruffling a few feathers. [ The
instant video on the economic /
financial collapse from Stansberry and Associates is so well researched and succinctly presented that I’ve archived same on my website;
also, because the facts and views presented comport with the facts and views
I’ve presented on my site which I believe to be correct. This is a must-view,
must-see that I strongly recommend!
The complete url: http://www.albertpeia.com/stansberrysinvestmentadvisory.flv
) http://www.albertpeia.com/stansberrysinvestmentadvisory.mp4 Written text of presentation (without
pictures / charts)] [A lot of pre-election year obfuscation,
manipulation but the debacle is already here:
Harry Dent, Jr. Economy will be in a
Depression by 2011
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at
the latest.
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between
2010 and 2012). Forecasts from
Dent, Napier, and then Prechter: Depression is
Imminent The Dow Jones Industrial Average will go down to at least 1000, most
likely to below 777 which was the starting point of its mania back in August
1982, and quite likely drop below 400 at one or more times during the bear
market.
The
following is my comment to an LA Times article regarding a Justice Department cover-up!
As for your inquiry, all I think about day and night is a long overdue
resolution to the RICO litigation as set forth therein:
I
believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October
15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5
pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf
http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as
fbicorrespondencereyes.htm . With regard to
the calls to the FBI’s LA and New Haven, CT offices: There was one call to the
LA office and I was referred to the Long Beach, CA office where I personally
met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of
the money laundering which he confirmed as indicative of same (he was
transferred from said office within approximately a month of said meeting and
his location was not disclosed to me upon inquiry). The matter was assigned to
FBI Agent Ron Barndollar and we remained in touch for in excess of a decade
until he abruptly retired (our last conversation prior to his retirement related
to the case and parenthetically, Rudy Giuliani whose father I stated had been
an enforcer for the mob to which he registered disbelief and requested I prove
it, which I did – he served 12 years in prison, aggravated
assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew
Maloney’s the one that prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely
and Regards,
Al
Peia
The
new Manchurian candidate The sad facts behind Rick Perry’s Texas ‘miracle’.
(Washington Post) [ I haven’t looked too closely at this yet. After all, bushed
of bushes and then there was johnson who’ve really done enough damage to
warrant looking askance. Yet, there’s Ross Perot (not running) and Ron Paul;
and of course, the great but substantially underrated President General
Eisenhower was born there though raised in Kansas. To his credit, he’s railed
against the incompetent wall street fraud oriented fed though one must still
say of same, better late than never. It’s that bushie / johnson war thing that
gives pause. Then there’s the gore / lieberman / nafta / now / bilderberg
connection … what’s up with that? (to quote Keenan Thompson of SNL fame). Then
there’s the Austin, Texas – based infowars.com / prisonplanet.com / Jone
contingent who remain unconvinced: Tell
Rick Perry that there was NO ‘Texas Miracle’ Len Hart | The only pockets lined by GOP largesse (pork) are
the pockets of an increasingly tiny ruling elite now just 1 percent of the
total US population. Rick Perry’s Campaign Strategy: Become Ron Paul Steve
Watson | Texas Governor promotes fiscal responsibility while his own state sits
on a $13.4 billion deficit.
Stocks
end 3-day rally U.S. stocks fall after a weak growth report in Europe
rekindled fears about a global economic slowdown. (Washington Post) [ Let’s not
kid ourselves, if it’s ‘not happening’ in Germany, it’s not happening;
b***s***, spin, and politicking aside. Japan’s numbers, bad as they were, are
too americanized to be believed and pervasively corrupt, defacto bankrupt
american numbers are just plain ‘american’ (which if you’re not paying
attention, is very negative. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! So what’s changed of
significance (other than previous full moon and consequent effects on the
lunatic wall street frauds Train
Reading: The Stock Market Is Insane
The Wall Street Journal ). Nothing! Stocks rally off lows on bad news, fraud, and
b***s*** alone! There's
A Recession Coming According To The Data at Forbes , Dell braces investors for a bumpy road 16 Aug 2011 Dell
makes a case on why it can better weather an upcoming storm, S&P
says sell Google's shares after Motorola deal , STOCKS
FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know Joe Weisenthal , Stocks
Slip On Concern Over Europe's Debt, U.S. Data , Watch
Out: 2011 Looks A Lot Like The Market Top In 2007
Sean Hanlon Take
A Lesson From 2007 And Sell Stocks Now at
Forbes, [video]
Trader: We Could Test 1120 Lows at
TheStreet.com In
a Downtrend, Sell a Rally (Daily FX) Latest:
Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here. ‘Aftershock’
Book Predicts Economic Disaster Amid Controversy Disturbing
Charts Show Economic Meltdown in 2012. See the Evidence. (Newsmax.com)
Five
Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing
Charts. (Newsmax.com) US Recession Is
Guaranteed: Expert CNBC.com Absolutely nothing, yet a manipulated
computer-programmed ( high frequency trading bots )
churn-and-earn suckers’ rally based on desperation, fraud and b***s*** alone
(ie., backward looking, ‘revisions’, faked data, etc.) to keep suckers
suckered, which makes for an especially great opportunity to sell / take
profits since there’s much, much worse to come
Perry
attack puts pressure on Fed ANALYSIS | The central bank is supposed to make
its decisions based on economics, not politics. Perry
takes aim at Bernanke (Washington
Post) [ When you’re right, you’re right. Can’t take that away from him. What
can the Federal Reserve do? With the U.S. economy at risk of a double-dip
recession, the central bank lacks tools to do anything. (Washington Post) [ Oh
I’d say they’ve done quite enough … wouldn’t you? … Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This
catering to fraudulent wall street was a loser ab initio! That so-called
‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan
and failed miserably except for the frauds on wall street who commissioned up
and down; and, make no mistake, those computer-programmed high-frequency
trading volumes have now been maximized for nation-economy-draining profits for
the frauds like never before and have never been higher. The QE and
dollar-debasement policies were always predictably inflationary, ultimately
hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that
was but in reality good only for the frauds on wall street. No, there is no
modern day alchemy that spins worthless paper into gold except fraudulently for
the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing
out’ for hard currency and gold, precious metals, at everyone else’s expense
including main street. ] In
his June 7 speech, Fed Chairman Ben Bernanke stated, “the best way for the
Federal Reserve to support the fundamental value of the dollar in the medium
term is to pursue our dual mandate of maximum employment and price stability,
and we will certainly do that.”
.. Bernanke’s
results .. since Ben took the reins:
Feb ’06 –
April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
..
The standard unemployment rate most often used by the Fed is currently at 9.1%,
up 90% since Bernanke started. The more inclusive (realistic) U6 number
stands at 15.8%, up 75% in the same period. The Civilian Participation
Rate has declined 2.87% to 64.2%.
This is the
lowest level the U.S. has seen since March, 1984. The decline amounts to
8,946,844 fewer Americans in the labor force. Had they not dropped out
because of a lack of jobs, the “official” unemployment rate would be
significantly higher. While we can debate the meaning of the term maximum
employment, it is clear that the jobs data has deteriorated considerably since
Bernanke took the reins at the Fed. ..
In conclusion,
it is evident that Ben Bernanke is failing his mandates. We believe it
must come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding.
Matt Marcewicz
& Robert Barone, Ph.D... ‘
Market
plunge reawakens recession fears Bleak numbers for U.S. jobs, housing and
manufacturing compounded the anxiety over European woes, sparking a market
sell-off and wiping out the major U.S. indexes’ gains from earlier this week.
(Washington Post) [ The frauds on wall street
et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! Train
Reading: The Stock Market Is Insane
The Wall Street Journal Stocks rally off lows to suck
suckers in and keep suckers sucked in on bad news (Jobless
Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says ), and b***s*** alone! MKM
Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com, WHY NEW
LOWS ARE LIKELY 8-18-11 Maierhofer, Is It 2008 Again?
Looking at the Summer Crash of 2011 Gayed ‘A real bear market
has begun …’ ,
Abandon Ship?[The USS
Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill ,
There's
A Recession Coming According To The Data at Forbes , HP, Dell
hammered as tech-spending outlook darkens JDSU, NetApp, disappointing figures, shares hit hard in
after-hours trade Dell braces investors for a bumpy road Dell makes a case on
why it can better weather an upcoming storm
, S&P
says sell Google's shares after Motorola deal , STOCKS
FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know Joe Weisenthal , Stocks
Slip On Concern Over Europe's Debt, U.S. Data , Watch
Out: 2011 Looks A Lot Like The Market Top In 2007
Sean Hanlon Take
A Lesson From 2007 And Sell Stocks Now at
Forbes, [video]
Trader: We Could Test 1120 Lows at
TheStreet.com In
a Downtrend, Sell a Rally (Daily FX) Latest:
Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here. Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com) Five
Reason Stocks Are Crashing, Tips to Prepare for Meltdown (Moneynews) Unthinkable Poised to Happen on Wall Street. See Disturbing
Charts. (Newsmax.com) US Recession Is
Guaranteed: Expert CNBC]
Obama
issues first explicit call for Syrian president to resign The rhetorical
escalation was backed by sanctions designed to undermine military operations.
(Washington Post) [ The reply: right after you wobama for gross incompetence,
for harboring war criminals bush and cheney et als, for unconstitutional
exercise of war powers alluded to by congressional members, for fraud in the
inducement and factum (false campaign statements/promises), and as soon as you
return that ridiculous thing called the ‘nobel peace prize’ belied by your
actions, etc.. Come on! Who takes this clown, ‘wobama the b’ (for b***s***),
seriously. He’s a total joke and totally pathetic at once! Robinson:
Obama won the Iowa Straw Poll (Washington Post) [ Oh riiiiight! What, on the
theory that so long as you don’t hear wobama the b’s (for b***s***) words which
invariably belie his actions or non-actions, it’ a victory for wobama? I don’t
think so; nor does the overwhelming, including the unpolled, majority! Is
Obama’s fate written in numbers? Recent economic data amounts to a
formidable headwind for any incumbent president hoping for a second term. And
Democrats worry time is running out. (Washington Post) [ Let’s just say the
fate of ‘wobama the b’ (for b***s***) is written, period. Quite simply, he’s
done! Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif . ‘Don’t cry for him new argentina, the truth
is he really screwed you’ … well you know that familiar theme and can ad lib,
insert your own words!
It’s
still Obama’s party Why he won’t face a primary challenge: Republicans and
racial politics. (Washington Post) [
It’s true … so right you are! Al Gore’s even pitchin’ in by donating the
talents of his long lost secret love child, ‘Leslie Gore’ to pen and sing a song
in wobama’s honor (kidding) which goes something like this , ‘It’s his party
and he’ll cry if he wants to, cry if he wants to, cry if he wants to, you would
cry too, if obama happened to you … Well, there you go … if the song says it it
must be true. Yeah! And those dern republicans and their racial politics … UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims' – Time to get whitey, at last, at last, etc., say
holder / wobama who go on to say ‘and they ain’t talking about Whitey Bulger,
the mobster, either!’ The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (Washington Post) [ Riiiiight! It’s
everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s
meltdown according to wobama aficionados / intractable wobama apologists,
Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s
personal character flaws (among many unmentioned) to exculpate the failed
president wobama. Wobama’s failed miserably and yet had the easiest act in the
world to follow in the persona of fellow failed president war criminal dumbya
bush whose failed policies up to the real start of the election cycle he’s
largely followed. After all, Mr. Robinson, how different really are the parties
these days when profligate spending on illegal, unnecessary wars was continued
when democrats controlled congress, and then even the executive office when
continuing failed president and war criminal dumbya bush’s nation bankrupting,
nation destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Details
of Obama’s jobs plan emerge President is thinking about proposing tax cuts
for companies that hire workers, new spending for roads and construction, and
other measures that target the long-term unemployed, administration officials
say. (Washington Post) [ Oh come on! Too
little, too late for ‘wobama the b’ (for b***s***), the eternal campaign(er) …
he’s got a ‘good rap’ … that rapper ‘wobama the b’ (for b***s***). Really! He’s a total embarrassment out there
on the campaign trail; and just as much an embarrassment for those who turn out
to see him … maybe he’s somewhat of an allure as in a freak show. He’s a total
joke! To be finally talking jobs and things just before the election having
broken previous campaign promises in his failed role as ‘bush failure 3’. Even
his pension is undeserved so much a fraud is he! Black
caucus: Tired of making excuses for Obama [ They are not alone! ] Washington
Examiner | A key member of
the Congressional Black Caucus says they don’t pressure President Obama because
he is loved by black voters. Obama ‘Takes More Vacations Than Any Human Being I’ve
Ever Seen’ Fox News | “Here we have a country that really is going
to hell in a handbasket.” Bus Tour Bust: Obama’s Approval Plummets Back Into 30s,
Says Gallup CNS News | Obama’s politically charged but taxpayer
funded bus tour through the Midwest turned into a bust yesterday. Disapproval of Congress Hits All Time High of 84% Paul
Joseph Watson | Americans are more upset with political leadership than ever
before.
Drudgereport: BLACK
CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s
b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be taken
in by their b***s***; they’ll ‘back the black’ every time, regardless! ]New
low of 26% approve of Obama on economy...
Inflation
builds...
FOOD PRICES
RISING...
UNEMPLOYMENT
UP...
OBAMA TO LAY
OUT JOBS PLAN -- AFTER VACATION...
'Takes More
Vacations Than Any Human Being I've Ever Seen'...
Commiserates
with jobless, then off to the Vineyard...
Even
that italian, belafonte, isn’t buying ‘wobama brand(ed)’:
Drudgereport: HARRY
BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40%
APPROVAL...
Obama takes
debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Democrats
strike back on taxes Obama and others are gambling that voters will see
GOP’s stance as recalcitrant and out-of-touch. (Washington Post) [ Ooooh! ‘The
Empire Strikes Back’! They’ve done it again! Brilliant political gambit!
Checkmate in 2 … 012 … NOT! … Come on! While
perma-war/wall-street-fraud-etc.-lovin’ republicans, as democrats, are
complicit in this mess called pervasively corrupt, defacto bankrupt disunited
states of america, recalcitrance and out-of-touch is hardly the exclusive
province of one party or the other which have in large measure morphed into one
conglomeration of venality, self-interest, crime, incompetence and corruption.
Actions, not words, count! Results count! How ‘bout recounting the actions,
results! Dismal at best, globally embarrassing at worst! Italy
unveils plan to calm fears of escalating crisis (WP) [ Yeah, dem piigs were back in the news. ’ Dem PIIGS still got problems. Europe’s
debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close
call! There you go. Nothing to worry about now that wobama’s got a boehner … so
not to be so hard on them; if pelosi says it, it must be true … Not!
…Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey
to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all
know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey
PIIGS they’ll be back to the trough for more … slop … py. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob
Chapman |
America is
insolvent and has been so for a long time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INCOME
STATEMENT:Total
federal spending in 2010 amounted to $3.456 trillion. Total receipts added up
to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011
federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary.
Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates
the unreported debt to be $75 trillion, while other estimates exceed $100
trillion (these amounts are insurmountable) …’ Famed economist predicts economic calamity
in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for
fake gov’t data / reports owing to political desperation! Why
You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The
market is building momentum to the downside’.
Wall Street
closes worst week since '08 with wild day NEW YORK (Reuters) S&P
on U.S. downgrade: Debt pact 'falls short' - Reuters S&P
downgrades US credit rating from AAA S&P
Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet What
Recovery? Forbes ‘…we can’t call this a recovery. There’s no
reason to celebrate when a job report was better than expected. Why? Because
the expectation was abysmal to begin with. And while we’re at it, we can’t
ignore increasing sovereign debt problems in Europe…’ ‘Top
3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet
1) Japan and Europe 2) Unemployment.3) Capital goods - billions of
dollars in lost revenue. Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude
To Meltdown,
predicting
the global crisis that occurred the following year. I now see a similar
confluence of events that warns of phase II of the global crisis… My work
shows that “the new recession has started.”… Over the past 33 years, we have
called the start of every recession, often on the exact month, or within one
month, of the official start as determined one year later by the official
arbiter of recession, the National Bureau of Economic Research (NBER)… However,
inflation is far understated for political reasons. Currently, the GDP deflator
is 1.8%, which hardly reflects the true rise in prices. Therefore, what is
counted as “growth,” is actually price increases. Actual inflation, according
to free market economists who calculate inflation as it was done in 1980 before
the politician re-engineered it, is now more than 11%. Using that to adjust GDP
for inflation, would show that the economy is now in a very sharp
contraction…’FLASHBACK HERE: Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [
He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The
5-year high in the level of insider corporate stock sales is telling. At 565
sells for every 1 buy, it’s never been higher.
Stocks
plunge on Europe’s banking worries (Washington Post) [ Oh … so that’s what
happened … those european banking worries … sure coulda’ fooled many here
stateside who are, in light of dismal realities here, yellin’, ‘look homeward
hell’s angels’. This sounds like a job for … Rosanne Rosanna Dana, formerly of SNL fame and as her mama
always used to say, which is also her hypothesis, ‘it’s always somethin’ … (but
unfortunately, that somethin’ is not necessarily what they say it is). How
‘bout the fact that stocks are substantially over-loved, over-valued owing to a
multitude of (wall street benefiting) fraudulent artifices which are intended
to obfuscate, as in the last and ongoing debacle, their most current
computerized manipulated
churn-and-earn high-frequency trading bubble-bull cycle in this unmistakably
secular bear market. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Train
Reading: The Stock Market Is Insane
The Wall Street Journal Stocks rally off lows to suck
suckers in and keep suckers sucked in on bad news (Jobless
Claims, Inflation Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator says ), and b***s*** alone! MKM
Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows Barrons.com, WHY NEW
LOWS ARE LIKELY 8-18-11 Maierhofer, Is It 2008 Again?
Looking at the Summer Crash of 2011 Gayed ‘A real bear market
has begun …’ ,
Abandon Ship?[The USS
Titanic] Yes, Because of These 5 Bearish Icebergs ... McGill , There's
A Recession Coming According To The Data at Forbes , HP, Dell
hammered as tech-spending outlook darkens JDSU, NetApp, disappointing figures, shares hit hard in
after-hours trade Dell braces investors for a bumpy road Dell makes a case on
why it can better weather an upcoming storm
, S&P
says sell Google's shares after Motorola deal , STOCKS
FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know Joe Weisenthal , Stocks
Slip On Concern Over Europe's Debt, U.S. Data , Watch
Out: 2011 Looks A Lot Like The Market Top In 2007
Sean Hanlon Take
A Lesson From 2007 And Sell Stocks Now at
Forbes, [video]
Trader: We Could Test 1120 Lows at
TheStreet.com In
a Downtrend, Sell a Rally (Daily FX) Latest:
Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More Here. Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com
·
Trayvon Martin was suspended from school three times
in the months before he was shot dead by a neighborhood watchman, it emerged
today.
·
The facts, revealed in a leaked report, paint a
different picture of a teenager who frequently found himself in trouble with
authorities.
·
It was also revealed that he might have attacked a
bus driver, according to a Twitter account that it is claimed belonged to the
teen.
·
The
New Orleans
officer resigns after Trayvon comments...
'Act
like a thug die like one!'... [ The officer should not have had
to resign. The reality is that trayvon was just a typical nigger; nothing more,
but as the niggers and niggerphiles will attest, nothing less. ]
Baggage
Handlers Behind 200 Thefts a Day at JFK...
3-26-12 Gas prices
expected to rise all summer long...
Sandusky was
labeled 'likely pedophile' in 1998...
'Cracker'
T-shirt hits Florida streets...
COPS:
Zimmerman says Trayvon decked him with one blow then began hammering his head
on sidewalk...
'Suffered
broken nose and had injury to back of head'...
Martin had
been suspended from school for marijuana...
Black
Panthers offer $10,000 bounty for 'capture' of Trayvon Martin's killer … [ who
do these filthy niggers think they are? ] Take a look at this nigger who kills
a white man during robbery, without any provocation from the victim ... http://albertpeia.com/typicalblackmanonneighborhoodwatch.htm
Shooter of
Florida teen not a racist, lawyer says...
SECRET
WITNESS: Self-defense... [Witness:
Martin attacked ZimmermanUpdated: Monday, 26 Mar 2012, 2:57 PM EDT
ORLANDO - A witness we haven't heard from before paints a much different
picture than we've seen so far of what happened the night 17-year-old Trayvon
Martin was shot and killed.The night of that shooting, police say there was a
witness who saw it all.Our sister station, FOX 35 in Orlando, has spoken to
that witness.What Sanford Police investigators have in the folder, they put
together on the killing of Trayvon Martin few know about.The file now sits in
the hands of the state attorney. Now that file is just weeks away from being
opened to a grand jury.It shows more now about why police believed that night
that George Zimmerman shouldn't have gone to jail.Zimmerman called 911 and told
dispatchers he was following a teen. The dispatcher told Zimmerman not to.And
from that moment to the shooting, details are few.But one man's testimony could
be key for the police."The guy on the bottom who had a red sweater on was
yelling to me: 'help, help…and I told him to stop and I was calling 911,"
he said.Trayvon Martin was in a hoodie; Zimmerman was in red.The witness only
wanted to be identified as "John," and didn't not want to be shown on
camera.His statements to police were instrumental, because police backed up
Zimmerman's claims, saying those screams on the 911 call are those of
Zimmerman."When I got upstairs and looked down, the guy who was on top
beating up the other guy, was the one laying in the grass, and I believe he was
dead at that point," John said.Zimmerman says the shooting was self
defense. According to information released on the Sanford city website,
Zimmerman said he was going back to his SUV when he was attacked by the
teen.Sanford police say Zimmerman was bloody in his face and head, and the back
of his shirt was wet and had grass stains, indicating a struggle took place
before the shooting.’ ] Trayvon Martin shooter: Teen went for my gun
Former
NAACP leader accuses Sharpton, Jackson of 'exploiting' Trayvon Martin...
'His
family should be outraged'...
Mother seeks
to trademark dead son's name …[ For what? Trayvon hoodies? ]...
Many wear
hoodies as churches remember Trayvon...
STUDY: Earth
heated up in medieval times -- before human CO2 emissions...
3-23-12 Obama gets
personal over killing of black Florida teenager...
Urges
'soul-searching'...
More Miami
schools stage mass walk-outs...
Gingrich
calls Obama's Trayvon comments 'disgraceful'...
Cops: Man
threatened to kill police chief at center of case...
Jeb Bush:
'Stand your ground' invalid here...
Miami Heat
Players Don Hoodies...
'Dead or
Alive' Poster Issued by New Black Panther Party... [ ‘Minority
Report’ Division of Pre-Crime, Pre-Cogs say, ‘Dead or Alive – all niggers’ …
whatever the outcome in the investigative process, the stark reality is that at
least, unlike the niggers committing many more ‘black on white’ violent
crimes, Zimmerman (and this is no
endorsement – I won’t be looking at this one incident all that closely) was at
least trying to do a good thing made necessary by the ever increasing number of
brutal crimes committed by the black thugs in neighborhoods across the nation;
then there’s somalian pirates, etc.. People domestically and internationally
are suffering from nigger-fatigue and are totally niggered out. Oh, yeah, there
are some
'BLACK
NIGGERS [ NOT WHITES BY NIGGERS THE IMPLICATION DESPITE FACTUAL DATA TO THE
CONTRARY ] ARE UNDER ATTACK [ SAYS
NIGGER SHAKEDOWN ARTIST JACKSON] ' [ Hold on one cotton-pickin’
minute jesse, that’s not what the facts say Obama: ‘If I had a son, he’d look like Trayvon.’ [ Yeah! He’d
look just like any other nigger. And, don’t worry about the black vote, failed
president wobama the b for b***s*** will get nearly if not all, 100% of the
nigger vote! Drudgereport: Farrakhan
Threatens 'Retaliation'… [ Retaliation? Can you imagine the number of blacks
that would have to be retaliated against based upon the hushed reality of the
prevalence of black on white crime? The blacks should be careful what they wish
for in playing that game because the facts don’t break in their favor. ] ...
People have become weary of making
up excuses for blacks (like obama, holder, etc.). At some point, as now, people
should not be timid about relating the cold, unvarnished truth statistically /
factually about blacks and, ie., black
on white violent crime, etc..
From Pat Buchanan: As for
racism, its ugliest manifestation is in interracial crime, and especially
interracial crimes of violence. Is Barack Obama aware that while white
criminals choose black victims 3 percent of the time, black criminals choose
white victims 45 percent of the time? Is Barack aware that black-on-white rapes
are 100 times more common than the reverse, that black-on-white robberies were
139 times as common in the first three years of this decade as the reverse? We
have all heard ad nauseam from the Rev. Al about Tawana Brawley, the Duke rape
case and
http://www.albertpeia.com/whitesvictimizedbyblacks.htm
The reality is that blacks are an
insoluble problem wherever they are. That’s not going to ever change; not make-shift/make-work
jobs; not programs; not anything tried or to be tried; hence, they must be
treated as exactly that – problems – before a solution can be derived and
fashioned. ] [ Send the niggers,
including niggerbama back to sub-saharan
EUROPE
RIDICULES OBAMA...
'Maybe
copy key got stuck on presidential speechwriter's keyboard'...
REPORT:
Corzine Ordered $200M Moved to JPMORGAN Days Before MF GLOBAL Collapse...
...memo
contradicts Corzine testimony
LATEST
DOCUMENT DUMP: White House was all-hands-on-deck as SOLYNDRA collapse neared...
APPLE Flash
Crash: Single Trade Causes 9% Plunge...
3-22-12 'Do you have
your birth
certificate?'
Heckled at
Ohio State...
CNN reporter
says 'n*gger' on live TV … [ Good for him! That’s what they are! ] ...
WASHPOST:
'Florida shooting stirs memories of civil rights era'...
Farrakhan
Threatens 'Retaliation'… [ Retaliation? Can you imagine the number of niggers
that would have to be retaliated against based upon the hushed reality of the
prevalence of black on white crime? The niggers should be careful what they
wish for in playing that game because the facts don’t break in their favor. As
for the pathetic whites among and protesting with them, they at best just don’t
know any better and need a closer real look at the nigger. ] ...
Student loan
debt tops $1 trillion...
Marine
sergeant faces discipline for FACEBOOK critique of Obama... APNewsBreak: Marine critical of Obama faces charge [ This one
caught my eye. While it is true that good soldiering requires absolute
discipline by definition, oaths should be taken seriously, honored, and given
effect. That said, burning Qurans was the product I assume of orders reflecting
even more than just stupidity; hence, whoever gave the order should pay the piper. If no order, and stupidity as
with urinating on the bodies of the dead, can and should the actors be held
accountable for such gross stupidity? Absolutely! However, one must be mindful
of the reality that marines invariably have ‘skin in the game’ when it comes to
consequences of commanders in chief incompetence, unlawful acts, poor judgment
particularly as impacted by questionable mental states (arbitrarily taking the
last three presidents as illustrative, viz., clinton, bush, obama certainly
reflect this reality and concern coupled with the unnecessary murderous results
of their actions). There has been a longstanding rebuke of the ‘just following
orders’ defense accorded soldiers since particularly the nazi regime as an
example. As such, Stein certainly should be lauded for saying what all soldiers
should already know; namely, the unlawful detention of americans, among other
constitutionally barred activities should not be among those orders they are
willing to follow. The proscriptions of posse comitatus should also serve as a
guide. This is particularly important given the fragile mental state of
americans generally, and
3-21-12 LA City
Council Close To Resolution Barring Radio Hosts From 'Racist, Sexist'
Comments... They can’t even competently run this crime-ridden city
where even cops are targets, and now they want to get into the censorship
business? Remember bustamonte’s quip, ‘the last gasp of white
VIDEO: Black
Student Becomes Enraged In Evolution Class, Threatens To Kill Professor... http://albertpeia.com/blackthreatenstokillprofessorstudentsoverhersimianancestry.htm
Sheriff Joe
Warns: 'Tons' more shocking info on Obama...
Prices
Slashed on Limited Edition 'Obama 44' Jerseys...
REPORT:
Troops stressed to breaking point...
More Marines
Voicing Disapproval of Obama...
OBAMA BACKS
HALF A PIPELINE!
Oil Prices at $200 a Barrel?
3-20-12
Obama
exempts 11 countries from Iran sanctions...
Netanyahu's
Holocaust rhetoric under fire...
Lagarde
warns of 30% oil spike...
Karzai calls
American troops 'demons'...
POSTMAN
CLAIMS: Ayers family put 'foreigner' Obama through school...
...video
interview
3-19-12 SANTORUM
ENDORSES ROMNEY! [1,504 DAYS AGO]
'If you want
conservative as nominee of party, you must vote for Romney'...
GODFATHER
ROM EMANUEL SHUTS DOWN NATO PROTEST...
Big Brother
Bloomberg Bans Food Donations...
Might
be too salty...
Holder 1995:
We Must 'Brainwash' People Against Guns … [ And guns not the only subject of
brainwashing they’re into; after all, in reality, all holder’s street bros will
have their illegal guns anyway, making the law abiding even more dependent upon
and at the mercy of the corrupt, do-nothing feds et als! ] ...
MARTIAL LAW?
WHITE HOUSE ISSUES EXECUTIVE ORDER: 'NATIONAL DEFENSE RESOURCES
PREPAREDNESS'...
...document
creates widespread worry
WASHPOST: 'A
misleading account of Obama's mother and her insurance dispute'...
Miami Vice:
The fight to keep big casinos out of Florida...
3-16-12 COST OF
LIVING SOARS...
CBO: Obama
budget deepens debt by $3.5 trillion...
2013
deficit: $977 billion...
CBO sees
higher deficits under Obama plan...
Will Tom
Hanks Video Help Obama [ Lamentably, sweet tom never really able to shirk the
role of retard once driven to the apollo as the beloved but mentally challenged
gump. Yes, life in america for worst is like that candidate of chocolate.
] ?
'He Would
Not Dwell In Blame' [ Yeah, sounds like a plan; when, as with wobama, you have
so much to be blamed for. In the final analysis, isn’t blame, the positing of
blame to one or another ultimately what a vigorous and real political process
is about, ultimately arriving at who’s best to provide credible solutions in
light thereof? ] ...
GOP mocks [
Indeed they should! Indeed they must! Wobama’s a joke! ] { The time is come for
wobama to pay the piper for every b***s*** story he’s ever told – and that a
real lot of b***s*** to account for! } ...
CIA wants to
spy on you through your TV...
Agency
director says net-connected gadgets will 'transform' surveillance...
Bob Barr
Files Lawsuit Against TSA Over 'Drudge' Controversy...
'HOMELAND'
LISTS YAWNING, GOOSE BUMPS AS SUSPICIOUS BEHAVIOR...
DEM SEN
ACCUSES COLLEAGUES OF BEING 'NIGGARDLY'[ But, to their credit, not niggers! ]
...
SOLDIER
NAMED IN AFGHAN MASSACRE...
Writings
about war battle discovered...
Angelica
Huston: USA Returning to 'Dark Ages'...
3-15-12 Suspect in
Afghan Attacks Had Brain Inury Been Drinking...
'He wasn't
thrilled about going on another deployment'...
KARZAI: GET
OUT!
Afghan
president wants U.S. troops gone from villages...
U.S. moves
massacre soldier to Kuwait...
Thousands
protest, chant anti-American slogans...
Taliban
suspends 'peace talks'...
CAM SNUBS
REPUBLICANS
Obama Tip
for Fainting Audience Members: 'You've Got to Eat'...
Orders baby
back ribs, grits, and corn bread...
Biden lauds
Obama as man of 'steal' [ spelled s-t-e-A-l, with an emblazened O on his frail,
weepy chest as in zero, the big zero wobama the b for b***s***! ] ...
Three in 10
young adults live with parents, highest level since 1950s...
Axelrod:
Limbaugh, Maher sexist comments different...
BUCHANAN:
Rush and the new blacklist...
China
becomes top investor in Germany...
3-14-12 'I wanted to
have the Marines look just like their Afghan partners'...
First time
stripped of guns during address by secretary of defense...
DISTRUST:
MARINES DISARMED FOR PANETTA AT CAMP LEATHERNECK
Price of gas
in CA jumps 50 cents in one month...
FLASHBACK:
Obama Birthday Party 'Black Heaven' [‘Nigger day’ (aka ‘White Hell’) is darkest
night for america!]...
'Obama
fanatic' pleads guilty to threatening to kill Sheriff Arpaio, family...
3-13-12 CBO NEARLY
DOUBLES OBAMACARE ESTIMATE...
$1.76
TRILLION OVER 10 YEARS!
FLASHBACK:
Obama pledges legislation will cost 'around $900 billion over 10 years'...
Fed: Four
large banks fail stress tests...
CITI
fails...
Spain Has
'Worse Problems Than Greece'...
AFGHANS BURN
OBAMA EFFIGY...
Taliban
threatens to behead U.S. soldiers...
Fire on
Afghan officials at attack site...
Kabul
demands local trial for US gunman...
3-12-12 PAIN IN THE
PUMP!
44 DOWN TO
41
Fed stress
testing banks against 13% unemployment, 50% drop in stock market...
PAPER:
Germany proposes a 'DRUDGE Tax'... [Sounds a bit ‘naziish’ to me, in
addition to desperate]
Kabul
demands local trial for US gunman...
Afghans urge
exit...
UK plans
combat pull-back...
Killings
bring war to presidential campaign...
U.S. soldier
in Afghan massacre had 'brain injury'...
3-09-12 Unemployment holds: 8.3%...
US still
down 6 million jobs...
THE
NUMBERS...
Trade
deficit widens to biggest gap since '08; Imports hit record...
US borrowing
rises for first time since 2008...
Banks
foreclosing on churches in record numbers...
Greek debt
swap triggers massive payouts...
MOODY'S
declares Greece in default of debt...
Spain's new
govt faces first strike...
Germany
wants new debate on EU constitution...
Hammer-Wielding
Thieves Swipe $450K In High-End Watches -- In 45 Seconds! [ Typical niggers!
It’s happening all over the country, here in california particularly. Where’s
the Drudge story on that ruthless, uncivilized but typical nigger Kony of
uganda fame – remember idi amin? - come on … it’s the same story all over
africa or wherever they are in concentrations; similar stories, including
especially here in america! Face up to it! That’s what niggers are, that’s what
niggers do! ] !
3-08-12 Gov't sets
record deficit...
POLL: 77%
Say Gas Most Important Factor in Election...
REPORT:
Obama lobbying against Keystone pipeline...
FLASH:
Dems kill...
Energy Secy:
I don't own a car...
ISRAEL
REQUESTS 'BUNKER-BUSTER'
Romney
Readies 'Prosecution of Obama'...
Greece in
last ditch scramble to avoid default...
Alarm sounds
over Spain rising debt...
Portugal
Doomed?
3-07-12 Panetta:
'International Permission' Trumps Congressional Permission For Military Actions
… [ Well, isn’t that revolutionary, as in ‘coup speak’, the constitutional
‘check/protection by solid precedent’ dashed in a sweeping statement by an
italian in a failed regime – seen/heard that one before, that ‘international
permission’ being the axis powers consensus giving rise to WW2– this is almost
in the realm of unbelievable yet is all too believable in pervasively corrupt,
defacto bankrupt, war crimes nation america! What total b***s*** / insanity.
Let’s see…who should be the ‘international permissioner’ this day? How ‘bout, zionist
netanayahu, robert mugabe the zimbabwe, etc.. How totally pathetic! ] ...
Weinstein
passes on movie pitch – from [how totally pathetic] Obama!
GAS HITS $6 AT CALIFORNIA STATION...
REPORT: Part
of $11M grant to provide 'business attire' for job seekers aided only 2
people...
Brazil
overtakes UK to become world's 6th-largest economy...
3-06-12 SUPER
CHOOSEDAY...
ROMNEY: ID,
MA, OH, VA, VT...
SANTORUM:
OK, ND, TN...
GINGRICH:
GA...
TOTAL
DELEGATE COUNT...
TOTAL
POPULAR VOTE...
HERE WE GO
AGAIN: Obama moves to aid Syrian 'rebels'...
Sens urge
strike [ And look at these senators: loser mccain who’s ‘knock, knock, knocking
on hell’s door’, zionist lieberman who’s already out the door, and that ‘mixed
up guy’ lindsey graham, all of whom have contributed to america’s national
bankruptcy strategy … ]...
Group sues
for Michelle Obama vacation records [ and there must be plenty of them; tons
and tons … ]...
3-05-12 Tearful
Putin claims election victory: 'Glory to Russia'… [ Glory indeed! Historically
well-deserved! I really don’t believe that Russians realize how important this
victory was for a stable, strong, great Russia prospectively! ] ...
Reasserts
grip...
POWER...
PROTEST
FEAR: G-8 MOVED OUT OF CHICAGOLAND
HOLDER: US
can target citizens overseas...
POLICE:
Black teenagers light 13-year-old on fire; 'You get what you deserve, white
boy'...
Typical n*****s! Come on! People are tired of making making up excuses
for the blacks. It’s always the same story with them, no matter where. http://www.albertpeia.com/whitesvictimizedbyblacks.htm Islamists kill dozens in Nigeria Christmas bombs [ Blacks’
black Christmas! Typical! For ‘self-defeating / self-destructive’ ‘political correctness’ or
otherwise, I believe the under-profiled black serial killer is also the
consequence of their proclivity for and love of killing, random, wanton
savagery for no reason other than for the sake of killing (as, ie., rabid dogs,
which distinguishes them from and positions them below other feral beasts) and
otherwise, and an historic predisposition toward canabalism. After all, the
contra-indicated mainstream ‘politically correct’ view (tv and otherwise) calls
for a white perp in terms of ‘profile’ which is of course, ridiculous. I
believe the under-reporting is owing to multiple killings by blacks being classified
as something other than ‘serial’; ie., gang, gang related, ‘typical’, etc..
Moreover, the anti-white bias of the black perps is also a reality that’s
under-reported. Take a look at the following brutally uncivilized black on
white violent rapes/murders:
http://www.albertpeia.com/whitesvictimizedbyblacks.htm Drudgereport:
'Mob' beatings at WI state
fair... 'Hundreds of
young black people beating white people'... [ Typical n*****s! Good thing there are food stamps;
otherwise they’d be reverting to their inherent proclivity for canabalism (send
them back to
Black Serial/Mass/Spree Killer List:
1. Matthew
Emanuel Macon (Murdered and Raped 5 White Women in
2. Jimmie
Reed (Murdered his wife and his 2 month old daughter and set them on fire)
3. Shelly
Brooks (Murdered 7 prostitutes in
4. Justin Blackshere
(Stabbed two white cooks at Cheli’s Chili downtown
5. Jervon
Miguel Coleman (Murdered three people.)
6. Donell
Ramon Johnson (Murdered a mother and a daughter)
7. Brian
Ranard Davis (6 women known murdered by nigger)
8. Paul Durousseau
(Seven women)
9. Mark Goudeau “The
Baseline Killer” (Eight women and a man in 2005-2006)
10. Coral Eugene Watts
(11 women in
11. Anthony
McKnight (Five girls and young women)
12. Derrick Todd Lee
(8 Women)
13. Charles
Lendelle Carter (4 known murders; admits to ‘hunting’ Atlantans for 15
years!)
14. The Zebra Killings
(71 White people)
15. Chester Turner
(L.A.s most prolific killer 12 women killed.)
16. Lorenzo
J. Gilyard (
17. Eugene
Victor Britt (
18. Reginald and
Jonathan Carr (The
19. Ray Joseph
Dandridge and his uncle, Ricky Gevon Gray (
20. The
Tinley Park Murderer (Suspect hasn’t been found but has been described as
black – murdered 5 women in a store.)
21. Henry Louis
Wallace (Raped and strangled 5 women to death.)
22. Charles
Johnston (Murdered 3 unarmed white men in hospital)
23. Craig Price
(Brutally murdered 3 women)
24. Harrison
Graham (Brually Murdered 3 women)
25. Charles
Lee “Cookie” Thornton (Murdered 6 Whites at the
26. & 27. Darnell
Hartsfeld & Romeo Pinkerton (Abducted and Murdered 5 from a restaurant)
28 &29. John Allen Muhammad & Lee Boyd Malvo (Sniped 11 people from a
car in DC, 9 died.)
30. George Russell (3 women, WA state)
31. Timothy W. Spencer (5 killed,
32. Elton M. Jackson (12 gay men killed,
33.
34. Mohammed Adam Omar (16 women,
35. Kendall Francois (8 women,
36. Terry A. Blair (8 women,
37. Wayne Williams (33 many of them children!,
38. Vaughn Greenwood (11 killed in LA)
39. Andre Crawford (10 killed in
40. Calvin Jackson (9 killed possibley more in NY)
41. Gregory Klepper (killed 8,
42.
43. Harrison Graham (killed 7+ in
44. Cleophus Prince (6 killed in,
45. Robert Rozier (7 killed in,
46. Maurice Byrd (killed 20 + in
47. Maury Travis (17 and rising,
48. Hulon Mitchell, a.k.a. Yahweh Ben Yahweh (killed 20+ in
49. Lorenzo Fayne (killed 5 children in
50. Paul Durousseau, (killed 6, two of which were pregnant women,
51. Eddie Lee Mosley (killed 25 to 30 women, south
52. Henry Lee Jones (killed 4 in, south
53. Richard “Babyface” Jameswhite (15 killed in,
54. Donald E. Younge, Jr. (killed 4),
55. Ivan Hill
(killed 6 in
56. Michael Vernon (
57. Chester Dewayne Turner (12 women killed in, Los Angeles)
ARREST MADE IN LOS ANGELES GRIM SLEEPER SERIAL KILLER CASE July
07, 2010 http://articles.cnn.com/2010-07-07/justice/grim.sleeper.arrest_1_lonnie-david-franklin-serial-killer-case-family-members?_s=PM:CRIME |By
Mallory Simon, CNN ‘Authorities in California said Wednesday they have arrested
a suspect in the Grim Sleeper serial killer case and will charge him with 10
counts of murder.Lonnie David Franklin Jr., 57, faces an additional count of
attempted murder, Capt. Kevin McClure with the Los Angeles Police Department
said.Franklin will arraigned in court Thursday morning, McClure said.The
California Attorney General's office attributed the arrest to DNA collected
from a relative of the suspect, in a controversial and rarely used practice
known as familial DNA search.’
Of
Course There Are Black Serial Killers by Lynette Holloway
on July 15, 2010 The case of the
"Grim Sleeper" inspires a second look at the popular perception that
serial killing is the province of clever white men.
Serial
Murderers' Row July 16, 2010 The
following black men are among the most prolific serial killers in
Black Serial
Killers Not So Uncommon http://www.amren.com/news/news04/03/03/blackserial.html
200 Involved
In Fights At Mall Of America After Rumors That Rappers Are There...
3-02-12 GOV'T MOTORS
halts production of CHEVY Volt...
Lays off
1,300...
BLAMES
MEDIA FOR LOW SALES...
Judge Orders
Illegal High School Valedictorian To Leave US … [ I have found Colombians to be
very intelligent, civilized, decent and honorable people (despite attempts to
paint them otherwise vis-à-vis the illegal cocaine ops which are really
primarily of american instigation and utility. The more likely reason for this
absurd result is that she forgot to pay the expected judicial bribe, one way or
person or another. That said, keep in mind america’s a far cry from what it
used to be in terms of reasons to want to stay here. ) ...
3-01-12 OIL HIT
$110+
Disputed
report of Saudi blast causes frenzy...
India
resists call to cut Iran imports...
REPORT: Real
inflation at 8%...[Actually, even much higher!]...
Your Share
of Fannie, Freddie Losses: $1,300...
Two more
American troops killed by Afghan soldier...
Obama:
Apology 'Calmed Things Down'… [Riiiiight! That reliable b***s*** effect… only
in america…]...
Afghan
government calls for trial for Quran-burning soldiers...
Russia
accuses US of meddling in presidential vote [President Putin has every reason
to accuse the corrupt, defacto bankrupt and envious u.s.]...
Internet
Outage at Pentagon...
EXCLUSIVE: BREITBART'S LAST HOUR
Death to be
reviewed by L.A. County coroner...
Sheriff
Joe's posse: 'Probable cause' Obama certificate a fraud...
'Forgery'...
2-29-12 DOWNER!
Bernanke
warns lawmakers nation headed for 'massive fiscal cliff'...
China
holdings of US debt at $1.15 trillion...
Ron Paul:
Fed's 'going to self-destruct'...
Energy
Secretary Chu Admits Administration OK with High Gas Prices...
Thieves
Drilling Into Gas Tanks...
2-28-12 Gas Prices
Hit $5 On Long Island...
...new worry
is $6
Detroit
Councilman Proposes Gas Stations Hire Security Guards...
GOOGLE in EU
showdown over privacy rules...
Revealed: US
plans to charge WIKILEAKS' Assange...
More Teens
Getting Jobs To Help Parents...
Israel faces
resistance over Iran strike...
US
security officials remain opposed...
Congressional
committee to consider tax breaks for mustaches...
2-27-12 3 doomsaying
experts who foresee economic devasation ahead...
Obama
49% Gingrich 39%...
UK
Government 'has run out of money'...
Obama
Plays Race Card, Calls on Churches to Support Campaign...
Launches 'African Americans for Obama'...
Forgets
name of governor -- who is chairman of Dem Guv's Assn...
OBAMA
TO CUT HEALTHCARE FOR TROOPS...
CLAIM:
Godfather threw 25% of Chicago kids under bus...
Oil
price rise raises specter of global recession...
U.S.
water bills to triple...
Credit Card
Debt Nears Toxic Levels...
NYT: Obama
using Espionage Act to 'silence and prosecute federal workers'...
NYPD
surveillance of students called 'disgusting'...
White House
pumped millions into program...
Liberal
groups demand investigation...
2-24-12 NOVEMBER
SURPRISE! Debt doomsday may come sooner than expected...
12 killed in
bloodiest day yet of Koran-burning protests...
Mobs charge
US bases...
2 MORE
AMERICAN TROOPS KILLED IN KABUL
Michelle O
Raps the Rich -- at Swanky Fundraiser...
GEITHNER:
Rich must pay more for 'privilege of being an American'… [ Wow! That’s a bad
pitch! Bye, america! ] ...
World's most
famous atheist: I can't be sure God doesn't exist…[Well, that at least makes
sense; because, quite simply, there is a God! ] ...
Karen
Santorum: Husband's surge 'is God's will'... [ Karen
Santorum: Presidential run is 'God's will' (Washington Post) [ The place they call
Heaven to Karen Santorum: News Flash – God has more important things and worlds
to attend to … Further News Flash – Though not popular fare among rationalizers
… Look around you, worldwide. Clearly, the world where the Christ was brutally
crucified (it would happen again and again here) is certainly not God’s
favorite, euphemistically speaking … Final News Flash – No, the Christ was not
sent here by God to be brutally murdered / sacrificed like some animal in some
pagan ritual for the sake of some primitive species evolved from initially
notochords, primitive chordates, and relatively more recently primitive apes.
Summary Conclusion: Decades at best, people don’t flatter yourselves; in
earthly vernacular, God doesn’t give a flyingf*** about this, or any other election.
Deceivers all (look at all the pervasive frauds, deceptions embraced by so
many), do not deceive yourselves. http://albertpeia.com/anthroindex1.htm
]
2-23-12 Afghan
soldier kills two American troops at protests...
Taliban:
Kill foreigners over Koran burnings...
Riots...
OIL JUMPS TO
$108+...
America's
Per Capita Government Debt Worse Than Greece... http://albertpeia.com/debtpercapita.jpg
IRS delays
in sending tax refunds continue...
2-22-12 Gas Prices
Jump 10 Cents -- in Two Minutes!
$6 GAS
Record oil
price sparks fears...
US EMBASSY
IN KABUL ON LOCKDOWN AS KORAN BURNING PROTESTS EXPLODE...
FEDS: Fresh
milk 150 times more dangerous...
'Propaganda'...
Gov't
launches war on hair dryers...
Percentage
of Americans who pay NO TAX hits 49.5...
GODFATHER
II: Rahm to co-chair Obama re-elect...
2-21-12 OIL HITS
$106...
White House
seeks to deflect blame...
GALLUP:
Unemployment Rises to 9% In February...
SATISFACTION
WITH COUNTRY WORST SINCE CARTER...
Michelle
hits the slopes in Aspen month after Hawaiian holiday...
16th
vacation in 3 years…[ Something a bit negroish about this seeming predisposed
proclivity for all the vacations of the obamas which I’m not the first to take
note of; then, as well, there’s wobama’s spending greater than that of all the
presidents since Eisenhower combined – well, you know, it’s an election year
- that ‘nigger-rich’ phenomenon despite
the nation being virtually insurmountably defacto bankrupt! ] ...
For Baby
Boomers, it's now 'work til you drop'...
Gas prices highest ever for this
time of year...
$4.93 in Los
Angeles...
Already,
talk of summer 'staycations'...
IRAN CUTS
OIL TO UK, FRANCE...
Saudi Arabia CUTS Oil Output...
Oil prices
hit 9-month high...
Iranian
warships dock at Syrian port...
US, Britain
urge Israel not to attack...
2-17-12 FEBRUARY:
Gas prices rise to $4 in Los Angeles...
Record High For Month...
President
Putin unleashes wave of anti-American sentiment...
Britain
fears new Cold War over Iran...
Iran sends
'message of peace and friendship'...
Turkey will
not allow NATO to share intelligence with Israel {Wise!}...
CAMPAIGN:
OBAMA TOUTS PLANT HE TRIED TO CLOSE...
Michelle
Obama takes a ski vacation...
Dem
convention co-chair's company got $230m in federal loans for 'green'
projects...
2-16-12 PAT
BUCHANAN: I'VE BEEN BLACKLISTED! OUT AT MSNBC…[ This is rather incredible, and
certainly pathetic! Always a voice of reason and whose fact-filled, fact based
writings and positions were typified by fearless candor, this tragedy of
monumental proportion hearkens back to another dark time in american history
when such blacklisting / censorship was common place even as though
over-reaching the threat though exagerrated was more real. Indeed, today, the
purported threat is in reality exposure of the clearly incompetent, misguided
and corrupt actions of government bureaucrats who consistently attempt to cover
up their failings which have caused this indisputable decline of, from his
perspective, a once great nation. ] ...
Dollar
Getting No Respect...
CBO: Longest
Period Of High Unemployment Since Great Depression...
USA will hit
debt limit before election day...
China wants
say in World Bank choice; Challenge US grip…[Indeed. After all, reality should
count for something.]...
Obama loses
financial backing of big San Fran donor…’ "I don't know where he stands on
anything,"
– [ Join the club, Mrs. Buell. It’s a club that includes wobama himself, until
the teleprompter speaks. ] ‘...
2-15-12 $3.9 Billion
in Fed Cash Flowed to Energy Firms With Ties to White House...
Insiders had
'huge stake in decisions'...
Big donors reap subsidies...
China
Reduces Holdings of U.S. Treasuries...
...lends
more than $75bn to Latin America
Egypt state
media accuses US of spreading anarchy...
Greek
rhetoric turns hot...
'Forces'
pushing Athens out of euro...
2-14-12 Heightened
Security in U.S. Over Iran Threat; Police Guard Jewish, Israeli Targets...
WARSHIPS
SAIL THROUGH HORMUZ...
US, Europe
look at crippling financial lifeline...
Ahmadinejad
to show off new nuke facilities...
'Neutralized'
Stuxnet virus...
Decision On
Iran Attack To Be Made 'By Summer'...
GAS PRICE UP
83% DURING OBAMA
EU divisions
threaten aid for Greece...
REPORT:
Chicago most corrupt city in USA...
2-13-12 ATHENS BURNS
Greece
passes new austerity bill...
Rioting
Intensifies...
Soros Slams
Merkel; Warns of 'Great Depression'...
Samuel L.
Jackson: 'I Voted for Obama because he's black'...
US SENATE
BAILS OUT BARBER SHOP...
Budget to
increase taxpayer losses on TARP...
US SENATE
BAILS OUT BARBER SHOP...
TMZ: Houston
died of drug, alcohol combo...
REPORT: Not
enough water in lungs to have drowned...
2-10-12 Obama budget
to miss deficit goal...
-$1,330,000,000,000.00...
BISHOPS:
Obama Solution 'Unacceptable'...
Burned by
Religion Once Again...
NRA: Obama
will 'erase' 2nd Amendment next term...
34 ITALIAN
BANKS DOWNGRADED...
Argentina
accuses UK of deploying nuke weapons near Falklands... Sub rub...
2-9-12 Rep. Bachus
faces insider-trading investigation... Developing...
'Homeland
Security' monitoring Internet for anti-govt sentiment, social unrest...
Archbishop:
Obama Needs To Stop 'Intruding Into Internal Life Of Church'... 'Betrayed'...
LAPD SETS UP
DOMESTIC 'WAR ROOM'
WIRE:
Foreclosure Deal to Spur Home Seizures...
Greece deal
fails to convince, EU demands more...
Fresh wave
of strikes...
2-8-12 Obama
approval rating 'below historical reelction standard'...
REPORT:
Gov't Dependency Shoots Up 23%, Biggest Jump Since Carter...
REICH: Obama
Has Handed Election Over To Super Rich...
International
'militarization' in Syria growing closer...
China
defends veto … {Really not necessary in light of u.s., israel, eu irrationality
} ...
POLAR ICE
CAPS MELTING LESS THAN THOUGHT...
STUDY:
Himalayas, nearby peaks lost no ice in past
10 years...
Scientists
'stunned'...
'I Feel
Duped'...
2-7-12 Greece:
'There's no more left to cut'...
Lawmakers
Protest Removal of 'GOD' reference from Air Force Patch…[Yeah, I guess beyond
propaganda that was just too much a stretch, given their Godless activities in
recent times! ]...
2-6-12 Greece takes
step closer to default...
Europe's
banks face challenge on capital...
Record
global sales of junk bonds...
CHURCH VOWS
WAR ON OBAMA
'FIGHT
IN STREETS'
Lieutenant Colonel Breaks
Ranks:
Pentagon
painting false picture of Afghan war...
'Military
leaders have let us down'...
2-3-12 HAPPY DAYS
ARE HERE AGAIN: Jobless Rate Falls to Lowest in Three Years...
Nasdaq Hits
11-Year High as Stocks Roar...
OBAMA WARNS
CONGRESS: 'DON'T MUCK IT UP'..
Romney:
Obama DOES NOT Deserve Credit...
Record 1.2M
FALL OUT Of Labor Force...
SANTELLI: Here's What's Wrong
With Data...
Artist
Depicts Obama Trampling The Constitution...
2-2-12 Cameron
Fleeing America To Escape Collapse!!!!!?
Ahmadinejad calls for new world
order...
Holder: I
Knew Nothing About 'Fast and Furious' Gun-Walking...
To Puerto
Rican Rep: 'Wherever you're from'...
NYT loses
$40million in 2011...
Woman
Deported to Mexico; Feds Take Custody of Her Four Children...
2-1-12 MASTER
DIRECTOR JAMES CAMERON: I'M LEAVING USA! [ This is a very big deal
and a very ominous development regarding the usa, such as it is. Mr. Cameron is
extremely intelligent, very civilized, and an historically great film maker /
director. ]
US DEBT
BALLOONS: $15,356,140,000,000...
El Centro,
CA: 26.8% unemployment rate!
GALLUP:
State polls predict huge Obama loss...
1-31-12 MITT 47%
NEWT 32% RICK 13% RON 7%...
Full delegate count so far...
RUBIO: FL
WINNER WILL BE NOMINEE...
Obama runs
up another
trillion-dollar deficit...
CBO says
real unemployment at 10%...
Federal
taxes to jump 30% in 2 years...
SHOWDOWN:
Issa threatens Eric Holder with contempt...
CA
to run out of cash by early March...
Soaring Beef
Prices Force Shoppers To Find Other Options...
Teacher On
Leave For Telling Class White Students Easier To Teach Than Blacks … [ Duh! Of
course that’s true! Before you can solve a problem, you must identify and
acknowledge the problem! ] ...
Video of
black teens savagely beating white boy posted on FACEBOOK; gets 25 'likes'
(probably by blacks) [ People must realize that you will never change the
uncivilized, less evolved nigger. White people are self-destructively crazy to
pretend and even try! ] ...
[ http://www.albertpeia.com/whitesvictimizedbyblacks.htm , Black Serial Killers Not So Uncommon http://www.amren.com/news/news04/03/03/blackserial.html
]
VIDEO
[EDITED]...
1-30-12 BUCHANAN:
Reagan White House saw Newt 'political opportunist... not trusted'...
HUNT:
Gingrich May Be Trying to Win One From the Gipper...
PALIN:
'Annoy A Liberal. Vote Newt!'
George Will:
'We're At The Horrid Stage'...
Gingrich:
Romney 'Breathtakingly Dishonest'...
'Pro-abortion,
pro gun-control, pro tax-increase'...
PREDICTS 5
MORE MONTHS OF THIS...
Hints
Santorum should get out...
Romney Mocks
Gingrich: 'Look in the mirror'...
POLLS,
POLLS, POLLS...
GALLUPUSATODAY
POLL OF SWING STATES:
Obama
47% Romney 48%
Obama
50% Paul 43%
Obama
51% Santorum 44%
Obama
54% Gingrich 40%
FRED
DECLARES: Romney has 'DRUDGE in back pocket'… [ I think Fred’s wrong … I don’t
think Romney has Drudge in his back pocket … I think Drudge favors Romney for
Anne Coulter whom he likes! ] ...
Rep. West
Torches Obama, Reid, Pelosi: 'Get the Hell Out of USA'...
GAFFE:
Obama: 'We've created 22 3 million jobs'...
Investors
face 70% loss in Greek deal...
China Buying
Record Quantities of Gold...
-80F in
Alaska! All-time USA record low temp almost broken
but
thermometer breaks!
1-27-12 TWITTER's
new censorship plan rouses global furor...
USA falls to
47th in press freedom rankings...
PAPER:
Pentagon Seeks Mightier Bomb vs. Iran...
1-26-12 REAL GDP COLLAPSE: 1.7% FOR
YEAR
Bankrupt:
Electric Car Firm Got $118.5 Million Stimulus, Biden Visit...
ROMNEY: THE
MOON CAN WAIT...
[ Newt Gingrich promises to build a moon colony by 2020; make it a
U.S. state Wow! Absolute proof that
the slimy newt’s not dealing with a full deck. Say anything? This takes the
cake! The ‘idea man’? Sure, all he needs is Aladdin’s lamp and infinite
capital! Oh yeah, reality nothwithstanding, nasa boondoggles sell well in Cape
Canaveral, Florida (and Houston, Texas). Note, he couldn’t just ‘go to the moon
for the first time’ (that fake video with the flag waving in the moon’s windy
atmosphere yet another example as on fraudulent wall street of that pervasively
addictive hopium)
America’s
debt woe is worse than Greece’s News
(CNN) — ‘Our government is utterly broke. There are signs everywhere one
looks…The government’s total indebtedness is $211 trillion’ . How pathetic and desperate, that slimy newt! ]
NECK-FOR-NECK…[moon
can wait, indeed; clearly a lucid moment for Romney, yet when asked about the
2-state solution, like a gumball machine he regurgitates the neocon/israeli
line that the Palestinians want to eliminate israel when the truth is that the
converse precedes and is truer; that is, that israel wants to eliminate
palestinians and has with american fed military might acted
accordingly…typical, total hogwash!]...
Ron Paul:
Diplomatic relations with Cuba...
Gingrich jab
at debate moderator deflected...
NYT: DRUDGE
slammed for Anti-Gingrich Assault...
KURTZ:
DRUDGE 'has never been part of any establishment' [ I’d say that’s a good thing
and more reason to as I make Drudge a daily read! ]...
PUTIN: USA
WANTS TO CONTROL EVERYTHING...
1-25-12 NEWT
FLASHBACK: REAGAN WAS RESPONSIBLE FOR NATIONAL 'DECAY'...
'The Reagan
administration has failed, is failing, and without a dramatic change in
strategy will continue to fail... President Reagan is clearly failing'...
INSIDER:
GINGRICH REPEATEDLY INSULTED REAGAN
NEWT SLAMMED
SENATE REPUBLICAN LEADER DOLE: 'THE TAX COLLECTOR FOR THE WELFARE STATE'...
R. EMMETT
TYRRELL: William Jefferson Gingrich...
COULTER:
RE-ELECT OBAMA: VOTE NEWT!...
'Conservatives
should not be surprised by scandals that lie ahead'...
What Reagan
Thought of Newt -- Excerpt from The Reagan Diaries...
State of the
Union Ratings Down 12%...
Obama's
Lowest...
MERKEL CASTS
DOUBT ON SAVING GREECE FROM MELTDOWN...
Portuguese
bonds hit as traders fear default...
Soros Warns
Of Dark Times...
Iran
threatens to act first on EU embargo...
Tehran
could block oil exports...
Iran-China
trade soars...
OBAMA HAS
HEATED ARGUMENT WITH AZ GOV.... DEVELOPING...
Flashback:
President Gave Same Treatment to Jindal...
1-24-12 BRUINS
GOALIE SNUBS OBAMA...
CURL: The
Truly Dismal State of the Union...
PELOSI
THREAT: NEWT WON'T BE PRESIDENT
'THERE IS
SOMETHING I KNOW'
Rubio
Defends Romney From Gingrich Attack...
GETTING OUT:
1,000+ Americans ditched their citizenship over taxes...
Buffett
would profit from Keystone oil cancellation...
Billionaire's
secretary to sit in
first lady's box for State of Union address...
'Couldn't
Sleep'...
Boehner
invites pipeline workers...
Obamanomics:
Price Of Gas +83%, Ground Beef +24%, Bacon +22%...
DETAILS:
Daniels Blasts 'Extremism' in Response...
Romney gave
15% to charity; Obama 1%...
Biden gave
$369...
Post Office 'Needs to Cut 260,000
Jobs'...
Rand Paul
refuses patdown...
'I was
BARKED AT: 'Do not leave the cubicle!'...
'Police
state growing out of control'...
On way to
Senate, March For Life...
Constitution:
'Privileged From Arrest'...
'HOMELAND'
DETAINS U.S. SENATOR
WHITE
HOUSE SIDES WITH TSA
OBAMASCARE:
Supremes refuse to consider Kagan recusal...
MITT FIRE:
SPEAKER NEWT 'RESIGNED IN DISGRACE'...
Calls
Gingrich 'Highly Erratic'...
'It's an
October surprise every day'...
PAWLENTY:
OBAMA WOULD BEAT GINGRICH...
NEWT EATS
THE PRESS...
Coulter: SC
Voters Rather Have Snotty Remarks Toward Obama Than Win...
953 dead
people voted in SC?
Gingrich
plans speech on space...
Romney:
Gingrich 'failed leader,' 'disgrace'...
Santorum
sticks around and gives grief...
Dems still
fixated on Romney...
FLASHBACK:
Gingrich favored censoring web to fight terror...
Obama
signals State of Union a campaign rallying call...
Ombudsman to
WASH POST: Hit Obama Harder...
DEFIANT:
Greece presses EU to ease Iran oil sanctions...
Flaming-horned
bull fatally gores man in Spain...
CYBER WAR:
Feds SHUT DOWN file-sharing website; No trial, no due process...
'This is
just the beginning'...
'Anonymous'
Goes on Revenge Spree ...
DoJ, RIAA,
MPAA, and UNIVERSAL MUSIC All Offline...
GOOGLE
Already Using SOPA-Like Censorship...
Republicans
stand together to oppose 'piracy' law...
Canada
Pledges to Sell Oil to Asia After Obama Rejects Keystone Pipeline...
China gets
jump on U.S. for Brazil's oil...
DEFIANT:
Greece presses EU to ease Iran oil sanctions...
Final
hours...
Romney
Pushes Gingrich to Disclose Ethics-Probe Details...
NEWT'S
PUBLIC CLASH WITH REPORTERS -- DIFFERS FROM PRIVATE...
Chuck Norris
endorses Gingrich!
Livingston:
'Newt is Volatile'...
NETWORK SOURCE:
Newt Cancels ABC's THIS WEEK For Sunday... Developing...
Romney sings
Happy Birthday to SC gov....
Insiders
coalescing...
5 MILLION
WATCH CNN DEBATE [6.2 MILLION MTV 'JERSEY SHORE', 18 MILLION 'AMERICAN
IDOL']...
Santorum: SC
is NOT end of line...
PAPER:
'America hates Newt Gingrich'...
Citadel
Cadets Differ on Republican Favorite...
POLL:
Romney, Ron Paul Tie Obama...
German
Deputy: S&P Downgrade Part of American 'War Against Euro' … [ Well, it’s
about time someone acknowledged the reality of what’s been going on; which of
course brings into focus the absolute stupidity attendant to europe’s ‘go along
to get along’ policies vis-à-vis america which depite obfuscation is far more
bankrupt than europe and far more desperate. It could have been totally
different for europe. ] ...
HANDS OFF
THE INTERNET!
LAWMAKERS
RETREAT FROM 'ANTI-PIRACY' BILL...
Rubio
Withdraws Support...
'Could
Have Many Unintended Consequences'...
DNC chair
supports...
Treasury
dips into pension funds to avoid debt...
Obama kills
Keystone pipeline; Blames Republicans...
Says more
jobs in jobless benefits...
GOP calls
Hillary to testify...
AP: ABC TO
AIR THURSDAY NIGHT...
GINGRICH DAUGHTERS:
'The failure of a marriage is terrible and emotional experience'...
NEWT EX-WIFE UNLOADS
Wed Jan 18 2012
Marianne Gingrich has said she could end her ex-husband's career with a single
interview… UPDATE: The
AP reports ABC is now likely to air the segment Thursday on NIGHTLINE.
Russia warns
strike on Iran would be 'catastrophe'...
FITCH: Greece to Default, 'Will Be
Orderly'...
Portugal
moves into default territory...
FDIC Requires Big Banks to Have
Breakup Plan...
FOREIGN COMPANY BUYS U.S.
ELECTION RESULTS REPORTING FIRM...
GLOBAL
REPORTING RAISES ALARMS...
WILL RETURN
LOST DRONE -- A MINIATURE PINK PLASTIC ONE...
Russian
State TV bashes new U.S. ambassador...
CHICAGOLAND:
Video Of Teen Beaten By 7 Thugs
YOUTUBE...
Man Fatally
Beaten Steps Away From Liberty Bell In Philly…
All Four
Wheels Stolen From Cars At Dealership... new york…police officers are investigating a rash of tire and rim thefts that leave victims with their
cars on piles of bricks. Last week, five cars parked in front of private
homes were hit…comment: Happens all the time in Maryland. [ Much worse happens
all the time in pervasively corrupt/defacto bankrupt, meaningfully lawless
america, home of the brave … criminals and mentally ill! http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog ]
BUST:
Another Gov't-funded solar company lays off most of staff...
La dégradation: S&P Cuts Credit
Ratings for NINE EU Nations...
Friday 13th
Shakes Europe...
France
stripped...
POLITIZAP:
Sarkozy braced for impact...
Italy
tumbles...
Austria
Loses...
Germany
Spared...
BRINK: Banks
Say No Deal on Greek...
LET'S GROOVE
… [ ALEXANDRIA, Va. (AP) — They called it “random dancing”
but First Lady Michelle Obama broke out some moves that resembled subdued
variations of “the Monkey” or “the Jerk” Friday during an appearance at a
northern Virginia high school… (she’s comfortable with the monkey / jerk) ] ... [ see http://www.albertpeia.com/chimpodoinmonkeyjerk.htm ]
'Dance Party
For Obama'...
MAG: Mossad
agents posed as CIA in operation… [ "It's amazing what the Israelis
thought they could get away with," a US intelligence officer told Foreign
Policy. "Their recruitment activities were nearly in the open. They
apparently didn't give a damn what we thought," said the official. ]...
Iranians
chant 'Death to America' at funeral for nuclear scientist...
Defiant
Ahmadinejad wins backing of Latin American allies...
'HOMELAND
SECURITY' MONITORING DRUDGE
'WILL RETAIN
INFORMATION' (How totally pathetic, incompetent, and paranoid they
are!)
BELAFONTE: OBAMA LACKS 'MORAL COMPASS'...
HOLDER
ENDORSES OBAMA POWER GRAB...
Labor board
holds 'meet and greet' for appointees that by-passed Senate...
UPDATE:
Retail sales fail to hit forecasts...
'Worst
Economic Recovery Since Great Depression'...
GONNA NEED
ANOTHER TRILLION...
Debt Nears
$15,194,000,000,000.00 Ceiling..
[http://www.rasmussenreports.com/public_content/politics/elections/election_2012/election_2012_presidential_election/2012_presidential_matchups
, Election
2012: Generic Republican 47%, Obama 43% , Election 2012: Obama 44%, Romney
41% , Wednesday, January 11, 2012 -The Rasmussen Reports daily Presidential
Tracking Poll for Wednesday shows that 22% of the nation's voters Strongly Approve
of the way that Barack Obama is performing his role as president. Thirty-nine
percent (39%) Strongly Disapprove, giving Obama a Presidential Approval Index
rating of -17 ]
Abandoned
Baby Found in 'Occupy DC' Tent...
Greek
children 'dumped in streets' as parents struggle...
TENSIONS
RISE: AHMADINEJAD TOURS CUBA...
Pentagon
moves carriers, denies Iran link...
Nuke
Scientist Assassinated...
Third
Killed...
USA presses
China over Iran oil imports...
Jolie
'disappointment' in Obama...
38,000
Farmers, Ranchers Sue Corzine Over Missing Million$...
NH RESULTS:
MITT 39% RON 23% JON 17% NEWT 10% RICK 9%...
Ron Paul To
Everyone But Romney: Drop Out...
UPDATE: Pat
Buchanan suspended indefinitely by MSNBC…[This is a tragedy typical of the
left; to silence the staight-shootin’, perspicacious Buchanan, censor the
internet/speech, arrest/detain americans without charge/constitutional
protections, etc... Beck
said that President Obama had “a deep seated hatred for white people.”The group
similarly succeeded in a campaign to have conservative website mogul Andrew
Breitbart banned
from the front page of The Huffington Post, after Breitbart called
the organization’s co-founder Van Jones a “cop killer-supporting, racist,
demagogic freak. And a commie. And an eco-fraudster.”…’]
White
House threw secret 'ALICE IN WONDERLAND' bash...
'Punch
served in blood vials'...
WH
'covered up'...
Officials
'nervous about how splashy party would look to jobless Americans'...
WH: 'You
can't believe everything you read in books these days'...
BYE BYE...
FLASHBACK:
Daley planned to leave AFTER election...
Michelle
(the repulsive, chimpish black) distressed about power of 'white Irish
Catholic'...
New Obama
Chief of Staff: Former Hedge Fund Exec at CITI, Made Money off Mortgage
Defaults...
Castro:
'Robot' better than Obama, Republicans...
KODAK
Preparing for Chapter 11 bankruptcy...
CEO on
Obama's Jobs Council...
BOEING To
Lay Off More Than 2,100 Workers At Wichita Plant...
L.A. arson
wave grows to 40 fires; most since 1992 riots...
UPDATE: 16 new arson fires around LA...
Italian president urges sacrifices to save economy...
Sarkozy: France's future hangs in balance in 2012...
Greeks must avert economic collapse, euro exit...
PAPER: Loss of faith in politicians, democracy could
make '12 most frightening year in living memory...
REPORT:
OBAMA SPEEDS UP IMMIGRATION VISAS EVEN IF FRAUD IS SUSPECTED...
New laws
take effect -- 40,000 of them! [ Arbitrarily enforced if at all – a nation
of ‘lawslessness’ – what a bunch of frauds! See here - http://albertpeia.com/fbimartinezcongallard.htm , http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf , http://albertpeia.com/40piecesevidenceusdecline.htm , http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm !
Motorcycles,
Bicycles Allowed to Run Red Lights...
Michelle
Obama Jokes: 'I Kind Of Like' Being Called Your Excellency [… yeah, kind of
like in a ‘SubSaharan africa / Planet of the Apes’ kind of way… I find her
wobamish jive-talking and chimpish look repulsive … what a fallen nation! ] ...
Cat survives
2 euthanasia attempts at shelter...
Christian
University Sues Federal Government Over Obamacare...
AS IOWA TURNS:
NEWT WEEPS [ Slimy newt’s muskie moment! ]
Floats Palin
for VP...
Kills
Chapter on 'Climate Change' in Upcoming Book...
On $4M
Vacation, Michelle Seeks $3 From Backers...
Christie:
'After Three Years Of Obama, We Are Hopeless And Changeless'...
Just 55%
Between 16 and 29 Have Jobs...
Dow Logs
Gain in Volatile Year; S&P Ends Flat...
Flurry of
Trades in Final Seconds Snatched Away 2011 Advance...
Gold Ends
Year Up 10%...
Euro ends
year as world's worst performing currency...
NERVES: 'Flash Crash' Threatens to
Return With a Vengeance...
Women
(blacks) trade punches over Air Jordans...
Pandemonium
as shoppers race for shoes...
Cops pepper
spray mob (of blacks) ...
Brawl...
Gunfire...
They Can't
Wait, They (blacks) Break Into The Mall...
SEASON'S
BEATINGS!
GALLUP:
OBAMA HEADS TO HOLIDAY WITH 44% APPROVE...
OBAMA:
'There is a laziness in me' …(Indeed there is, no need to remind us) ...
2011 likely
worst year for house sales on record, dating back to 1963...
Brazil's
Economy Overtakes Britain As Sixth Largest...
French
unemployment at 12-year high...
REPORT:
Internet censor bill would target political websites...
Oil price
climbs amid Iranian threat...
Vows to stop
Gulf oil if sanctions widened...
I NEED
ANOTHER $1.2 TRILLION…[so says ‘wobama the b for b***s***’ of defacto bankrupt
america]...
Cuomo wants
casino in New York City…[ Sure … save the mob that sometimes inconvenient (and
costly ‘cut’) ‘trip’ to atlantic city, n.j. with the laundered (drug, etc.)
loot / money … what would you expect from a typical n.y./n.j. guinea ] ...
Pelosi Slips
Quietly into Hawaii Resort; $10,000 a night suite...
REPORT:
Pelosi wants to retire -- says daughter [ must be miffed about that ‘no pay
raise’ this year ] ...
Paul gets
front-runner's welcome...
MICHELLE
SPORTS $2K SUN DRESS...
MCDONALD'S
Offers Free Coffee During Tough Economic Times...
STOCKS TURN
NEG FOR YEAR...
Russia
scolds United States for human rights abuse...
MELEE AT
MALL OF AMERICA...
Man beaten
by robbers -- who stole new Air Jordan sneakers off his feet!...
Hundreds of
Teens Run Wild After Rumors That Rappers 'Lil Wayne, Drake Are There...
VIDEO: Mayhem, Screams...
California soldier shot at his homecoming party [ From one war
zone to another! ]
Islamists kill dozens in Nigeria Christmas bombs [ Blacks’
black Christmas! Typical! ]
For
‘self-defeating / self-destructive’ ‘political correctness’ or otherwise, I
believe the under-profiled black serial killer is also the consequence of their
proclivity for and love of killing, random, wanton savagery for no reason other
than for the sake of killing (as, ie., rabid dogs, which distinguishes them
from and positions them below other feral beasts) and otherwise, and an
historic predisposition toward canabalism. After all, the contra-indicated
mainstream ‘politically correct’ view (tv and otherwise) calls for a white perp
in terms of ‘profile’ which is of course, ridiculous. I believe the
under-reporting is owing to multiple killings by blacks being classified as
something other than ‘serial’; ie., gang, gang related, ‘typical’, etc..
Moreover, the anti-white bias of the black perps is also a reality that’s
under-reported. Take a look at the following brutally uncivilized black on
white violent rapes/murders:
http://www.albertpeia.com/whitesvictimizedbyblacks.htm
Black Serial/Mass/Spree Killer List:
1. Matthew
Emanuel Macon (Murdered and Raped 5 White Women in Lansing)
2. Jimmie
Reed (Murdered his wife and his 2 month old daughter and set them on fire)
3. Shelly
Brooks (Murdered 7 prostitutes in Detroit Cass Corridor)
4. Justin Blackshere
(Stabbed two white cooks at Cheli’s Chili downtown Detroit)
5. Jervon
Miguel Coleman (Murdered three people.)
6. Donell
Ramon Johnson (Murdered a mother and a daughter)
7. Brian
Ranard Davis (6 women known murdered by nigger)
8. Paul Durousseau
(Seven women)
9. Mark Goudeau “The
Baseline Killer” (Eight women and a man in 2005-2006)
10. Coral Eugene Watts
(11 women in Texas & 1 in Michigan)
11. Anthony
McKnight (Five girls and young women)
12. Derrick Todd Lee
(8 Women)
13. Charles
Lendelle Carter (4 known murders; admits to ‘hunting’ Atlantans for 15
years!)
14. The Zebra Killings
(71 White people)
15. Chester Turner
(L.A.s most prolific killer 12 women killed.)
16. Lorenzo
J. Gilyard (Kansas City, MO.—13 victims)
17. Eugene
Victor Britt (Gary, IN.–3 known murder/rapes.)
18. Reginald and
Jonathan Carr (The Wichita Massacre–6 Whites murdered)
19. Ray Joseph
Dandridge and his uncle, Ricky Gevon Gray (Richmond, VA.–Murdered 7 people
in 7 days, including an entire White family.)
20. The
Tinley Park Murderer (Suspect hasn’t been found but has been described as
black – murdered 5 women in a store.)
21. Henry Louis
Wallace (Raped and strangled 5 women to death.)
22. Charles
Johnston (Murdered 3 unarmed white men in hospital)
23. Craig Price
(Brutally murdered 3 women)
24. Harrison
Graham (Brually Murdered 3 women)
25. Charles
Lee “Cookie” Thornton (Murdered 6 Whites at the Kirkwood, MO. city council.
)
26. & 27. Darnell
Hartsfeld & Romeo Pinkerton (Abducted and Murdered 5 from a restaurant)
28 &29. John Allen Muhammad & Lee Boyd Malvo (Sniped 11 people from a
car in DC, 9 died.)
30. George Russell (3 women, WA state)
31. Timothy W. Spencer (5 killed, Arlington, VA and Richmond, VA)
32. Elton M. Jackson (12 gay men killed, Norfolk, VA area)
33. Carlton Gary (3 killed in Columbus, GA)
34. Mohammed Adam Omar (16 women, Yemen. Omar is Sudanese.)
35. Kendall Francois (8 women, Poughkeepsie, NY and surrounding areas.)
36. Terry A. Blair (8 women, Kansas City area)
37. Wayne Williams (33 many of them children!, Atlanta, GA)
38. Vaughn Greenwood (11 killed in LA)
39. Andre Crawford (10 killed in Chicago – southside)
40. Calvin Jackson (9 killed possibley more in NY)
41. Gregory Klepper (killed 8, Chicago – southside)
42. Alton Coleman (Killed 8 in the Midwest)
43. Harrison Graham (killed 7+ in N. Philadelphia)
44. Cleophus Prince (6 killed in, San Diego
45. Robert Rozier (7 killed in, Miami)
46. Maurice Byrd (killed 20 + in St. Louis)
47. Maury Travis (17 and rising, St. Louis and possibly also Atlanta)
48. Hulon Mitchell, a.k.a. Yahweh Ben Yahweh (killed 20+ in Florida)
49. Lorenzo Fayne (killed 5 children in East St. Louis, IL)
50. Paul Durousseau, (killed 6, two of which were pregnant women, Jacksonville,
FL; Georgia.)
51. Eddie Lee Mosley (killed 25 to 30 women, south Florida)
52. Henry Lee Jones (killed 4 in, south Florida; Bartlett, TN)
53. Richard “Babyface” Jameswhite (15 killed in, New York; Georgia.)
54. Donald E. Younge, Jr. (killed 4), East St. Louis, IL; Salt Lake City, UT.
55. Ivan Hill
(killed 6 in Los Angeles area).
56. Michael Vernon (Bronx, NY. Killed at least seven people – )
57. Chester Dewayne Turner (12 women killed in, Los Angeles)
ARREST MADE IN LOS ANGELES GRIM SLEEPER SERIAL KILLER CASE July
07, 2010 http://articles.cnn.com/2010-07-07/justice/grim.sleeper.arrest_1_lonnie-david-franklin-serial-killer-case-family-members?_s=PM:CRIME |By
Mallory Simon, CNN ‘Authorities in California said Wednesday they have arrested
a suspect in the Grim Sleeper serial killer case and will charge him with 10
counts of murder.Lonnie David Franklin Jr., 57, faces an additional count of
attempted murder, Capt. Kevin McClure with the Los Angeles Police Department
said.Franklin will arraigned in court Thursday morning, McClure said.The
California Attorney General's office attributed the arrest to DNA collected
from a relative of the suspect, in a controversial and rarely used practice
known as familial DNA search.’
Of
Course There Are Black Serial Killers by Lynette Holloway
on July 15, 2010 The case of the
"Grim Sleeper" inspires a second look at the popular perception that
serial killing is the province of clever white men.
Serial
Murderers' Row July 16, 2010 The
following black men are among the most prolific serial killers in U.S. history.
http://www.theroot.com/multimedia/gallery-meet-6-black-serial-killers Plus:
Behind the myth that only white men commit such crimes.
Black Serial Killers Not So Uncommon http://www.amren.com/news/news04/03/03/blackserial.html
200
Involved In Fights At Mall Of America After Rumors That Rappers Are There...
Oil price
near $100 on global security concerns...
Investors Lose Faith in Stocks As
Billions Pour Out of Funds...
DANGER: Fed
asks banks to keep more cash at hand...
IMF: World
economy at a 'very dangerous juncture'...
90
Congressmen have 'no confidence' in Eric Holder, say he should resign...
HAPPY
HOLIDAYS: USA DEBT NOW $15,123,841,000,000!
Russia and
US clash over NATO bombing probe... UNITED NATIONS (AP) --
Russia urged the U.N. Security Council on Thursday to investigate civilian
deaths in Libya from NATO's bombing campaign…
Matt Damon
rips Obama again (abc’s ‘coco duo, rob mo and sunny ho disapproved’ of Matt’s
rather tame but forthright criticism of failed president ‘wobama the b for
b***s***’ for whom there is no legitimate defense!)...
Chavez:
Obama a 'clown' president...
'Lectures us
on eating right'...
Local Cops
Ready for War With DHS-Funded Military Weapons...
Armored cars
with turrets, drones, military-grade assault rifles...
REPORT: Chevy Volt Costing
Taxpayers Up to $250K Per Vehicle...
CAVUTO: Volt sales inflated with
taxpayer fleet buys...
FED-EX guy
chucks package over fence -- a computer monitor! [ I had a similar
experience with fed-ex and the computer delivered didn’t work at all ]
UK's AAA
credit rating threatened by 'formidable challenges'...
'Miracle' if
France keeps it...
IOWA GOV:
IGNORE PAUL WIN...
VOTE WILL BE
HACKED!
Chavez:
Obama a 'clown' president...[ …“Mr. Obama decided to attack us,” Chávez said. “Now
you want to win votes by attacking Venezuela. Don’t be irresponsible. You are a
clown, a clown. Leave us in peace … Go after your votes by fulfilling that
which you promised your people. Focus on governing your country, which you’ve
turned into a disaster,” Chávez said, according to The Guardian…’ Read more: http://www.politico.com/news/stories/1211/70694.html#ixzz1hA7JMS1q ]
PELOSI:
Extending Unemployment Benefits Will Create 600,000 Jobs...
Cybersecurity
bill would establish 'federal big brother'...
Internet
architects oppose US online piracy bills..
France's AAA
Outlook Cut as FITCH Reviews Ratings of Italy, Spain, Belgium...
Most stock
funds post losses this year...
Gingrich:
Send US marshals to arrest judges who defy Congressional subpoenas...
DANGER: BANK
OF AMERICA shares close below $5...
Ron Paul
Warns Martial Law Being Established in USA...
Missing $4,155? It Went Into Your
Gas Tank This Year…[ and into wall street pockets courtesy of the fed’s
over-printed Weimar dollars for QE’s, etc.]...
PAPER: GOP
will take off gloves if Paul wins IA...
FEAR: IOWA
VOTE WILL BE HACKED!
Frantic
Bachmann 'everywhere' -- 13 stops in 1 day!
Widespread
Obesity Forces Coast Guard to Lower Max Number of People on Ferries…[ Wow! ]...
US Capitol
Christmas Tree Honors Obama, Not Jesus Or Christmas...
Fears over
French credit downgrade...
China
villagers threaten to march on government offices...
Communist
party tested...
FLASHBACK:
Hillary says 'Free internet from political control'...
Jews still
try to segregate Israel buses... By AMY TEIBEL [Yeah … they’re anti-women,
anti-gentile, and … no surprise to me , they’re anti-semitic … you heard it …
anti-semites … Arabs are semites! Could you imagine if such a thing happened to
a jew or a black in america? You’d never here the end of it! ] JERUSALEM (AP)
-- Israel's political leaders and chief rabbis on Sunday condemned persistent
efforts by ultra-Orthodox Jewish men to shunt Israeli women to the back of
public buses, a year after the country's Supreme Court outlawed the
practice.The outcry came in reaction to an Israeli woman's experience of being
asked to move to the back of a bus, which was
Facebook and became a cause celebre in the Israeli media on Sunday. The
case even drew public comment from Prime Minister Benjamin Netanyahu, who
deplored gender segregation.Ultra-Orthodox Jews, who make up about 10 percent
of Israel's population of 7.6 million, have become increasingly aggressive in
their efforts to impose their norms in public spaces. The ultra-Orthodox have
segregated bus lines and some walkways in their neighborhoods.In Jerusalem,
billboards depicting women have become a rarity because ultra-Orthodox vandals
rip them down. The issue also has seeped into the military, where religious
soldiers walked out of a military event several months ago because women were
singing - which extremely devout Jews believe is contrary to Jewish law.In the
past, ultra-Orthodox Jews have confined their strict practices to their own
neighborhoods, alongside occasional attempts to pass restrictive legislation
banning sale of pork or opening shops on the Jewish Sabbath.Recently the
extremist Jews have been trying to impose their norms outside their own
enclaves, but the effects are scattered. Most of Israel's secular majority is
not directly affected.The Supreme Court was forced to wade into the controversy
last year, when it ruled on the segregated buses and sidewalks. Although
activists say harassment on buses has diminished since the court ruling late
last year, some fiercely devout are persisting with their efforts to block the
mixing of the sexes in public.Tanya Rosenblit, a 28-year-old woman from the
southern town of Ashdod, discovered this last Friday, when she boarded a bus to
an Orthodox neighborhood in Jerusalem. Shortly after she sat down behind the
driver, a man wearing the black garb and flowing sidelocks of the
ultra-Orthodox boarded the bus and asked her to move. She refused, and the man
then blocked the bus from driving, she told The Associated Press. She held her
ground - even after a male police officer dispatched to the scene asked her if
she was "willing to respect them and move to the back," she said….’
McQueary: I
saw Sandusky molesting boy...
I TOLD
PATERNO...
15 EU
Nations Placed on Negative Credit Watch...
Huntsman:
Trump debate 'is a joke’ [ Yeah! He’s got that exactly right … after all, what
can you expect from the joker, trump … a joke of course, or worse! ]'
PERRY WON'T
KISS THE RING
BACHMANN
WILL NOT ATTEND
Obama
celebrates Hanukkah at White House...
TWO
WEEKS EARLY?
LIGHTS
ALL
THE CANDLES...
'We Never
Need an Excuse For a Good Party'[ Riiiiight! There’s plenty to party about in
america today, and room for extra vacation time too! ]...
COMING SOON:
AMERICANS IN GITMO...
Bill allows
indefinite detention without trial...
Obama
'demanded law apply to U.S. citizens'...
Even Al
Jazeera asks: 'How did we get here?'
US
clears Iraqi airspace for Israeli strike on Iran...
IRAQI
OFFICIALS SKIP U.S. END-OF-WAR CEREMONY...
China trims
holdings of US Treasury debt...
FORECAST:
GLOOMY...
FITCH
downgrades 8 global banks...
Crisis
'poses military risk'...
IMF chief
warns over 1930s-style threats...
French
leaders launch outspoken public attacks on Britain...
PAPER:
Obama's Watergate...
SHE CAN'T
WAIT: MICHELLE TAKES OFF TO HAWAII...
ENTOURAGE OF
MILITARY FLEET, LIMOS...
FLASHBACK:
Obama exec order seeks to cut unnecessary travel...
RADIOHOST
SAVAGE OFFERS NEWT $1M TO GET OUT...
Glenn Beck:
I'd consider Ron Paul as third party over Newt...
Gary Busey
Endorses Gingrich...
Congress
considers bill to censor Internet...
'Free speech
kill switch'...
Would
'criminalize' Internet...
'Communist
China is model'...
MISSION
ACCOMPLISHED: Panetta says 'we're winning' in Afghanistan…[ Riiiiight! Sure …
if national insolvency is the goal and standard for victory. How pathetic
… oh yeah, if the americanized increased
heroin trade is also a goal and standard; but, only great for the select few
war profiteers and not at all anywhere near helping defacto bankrupt america
and actually costs more to america / world societies owing to the deleterious
effects, consequences, costs of the scourge of this hardcore, addictive
narcotic! ]...
Senate
Dems kill bill that would have required balanced budget...
THREATEN CHRISTMAS
GOV'T SHUTDOWN...
House defies
Obama on payroll tax bill...
Paul rips
Romney, Gingrich as 'from the same mold'...
AXELROD ON OBAMA,
NEWT: 'The higher a monkey climbs on pole, more you can see his butt'...
Dem lawmaker
blasts Obama as arrogant, alienating...
MF Corzine
back before Congress...
Denies
'misuse' of funds...
Employee: He
Knew...
Companies
blame unemployment on skills gap...
Lack
of qualified workers, not demand, cited...
EURO PLUNGES...
Euro Tumult
Shows Netherlands Converging With Germany at Expense of France...
ABC Debate
Draws 7.6 Million; Most-Watched of Year...
PAPER: Fears
persist American jobs crisis cannot be fixed [They call it not fear, but
reality!]...
Real
unemployment rate at 11%...
Industrialized
nations' borrowings to pass $10 trillion for year...
PANIC: BANK
RUN IN LATVIA...
Butter
shortage in Norway pushes price per pound to nearly $500...
BELIEVE!
TEBOW
DAZZLES NATION...
Dowd: We
need faith like Tebow's in White House...
UP EURS...
UK
eurosceptic press jubilant at veto...
Sarkozy
'snubs' Cameron handshake...
Worries grow
over IMF loans...
Average
Family Lost $21K in 6 Months Due To Property Values, Stock Market...
Hill
staffers tweet of partying, 'idiot boss'...
GOV'T MOTORS
LAYS OFF WORKERS...
Lawmakers
press Volt's safety...
Corzine
'stunned' cash can't be found...
Lying 'has
to do with your state of mind' [ the’ holder view’ that loses hold of reality
in those ethereal nether reaches of the mind that precludes rationality’-
nothing to see here says he, it’s all in his mind … riiiiight! ] ...
Hundreds of
NASA moon rocks missing! [ Yeah … the clearly petrified wood ones …
fewer pieces of clear evidence that THEY NEVER SET FOOT ON THE MOON! http://www.freerepublic.com/focus/f-chat/2325971/posts (you know … from all those trees on the moon
… from waving too hard in the breeze on the windy -NOT,no atmosphere- moon like
the american flag in the fake footage … what frauds!) ] Astronauts'
tracks, trash seen in new moon photos [ The easiest thing in the
world to contrive (don’t forget they can with some precision today send
robotics to ie., mars, etc.) and doctor so don’t be taken in by their
fraudulent b***s***! They’re probably desperately looking for some money /
budgetary consideration for their continued boondoggles. No man has ever set
foot on the moon to date. As
NASA transitions, U.S. space politics in a state of flux (Washington Post) [ U.S. space politics? I
didn’t know there was such a thing. But I, and I’m sure all know that ‘u.s.
politics are spaced’. Flux? One could only hope. I’d say, ‘fleeced’; as in
we’ve all been fleeced. Sterner:
5 myths about NASA (Washington
Post) [ If you can’t get past the first myth; viz., that they actually set foot
on the moon, the other 5 so-called myths become irrelevant. Indeed,
post-Eisenhower, and certainly post-Kennedy-assassination / coup d’etat, NASA
was all military / military industrial complex (moreover, someone knowledgeable
about such matters said essentially that in explaining to my surprise the
transition to the shuttle program it was said there was greater military
application in same). In any event, Russia’s been doing quite a bit of ‘heavy
lifting’ vis-à-vis the space station, but not inordinately so. All I can say
with certainty is that the universe beyond this solar system is forever protected
/ insulated. The fact is, they never set foot on the moon; and, in light of the
pervasive corruption in and defacto bankruptcy of the nation, their perpetual
wars toward making a hell on earth militate against anything but trying to do
even just a little bit better (for a start), terrestrially. NASA wants
mission to bring Martian rocks to Earth (AP) Why? They already have
that and more: Launch
of secret US space ship masks even more secret launch of new weapon The
Militarization of Outer Space: The Pentagon’s “Space Warriors” Global Research | It’s not as if
things aren’t bad enough right here on planet earth. Now the Defense Department
wants to up the stakes with new, destabilizing weapons systems that will
transform low- and high-earth orbit into another
“battlespace.” buzz aldrin
wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if
he already has the footage in the can since you won’t be able to use the moon
footage for the new boondoggle video ... OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO
BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION).
NASA's New Asteroid Mission Could Save the Planet Space.com -
- CAPE CANAVERAL, Fla. -
President Barack Obama set a lofty next goal this week for Americans in space:
Visiting an asteroid by 2025. Obama's asteroid goal: tougher, riskier than moon The Associated Press Obama calls for NASA to focus on trips to Mars and beyond Computerworld New Boondoggle promised to save NASA
boondoggle defacto bankrupt budget piece of pie. And don’t forget, Bruce Willis and
Ben Affleck, et als, have already done this so it’s not as if they’re starting
from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to
Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the
cloned daughter of Sill, might want to mate with astronaut Paddy Ross who has
returned from Mars as a space alien host body. First fake moonwalker blasts Obama's space plan msnbc.com -
- The first man to pretend to
walk on the moon blasted President Barack Obama's decision to cancel NASA's
back-to-the-moon program on Tuesday, saying that not going with the new movie
is “devastating” to america's boondoggle spaced out effort. Fake dutch 'moon rock' revealed a treasured piece at the
dutch national museum - a supposed moon rock from the first manned lunar
landing - is nothing more than petrified wood, ...bbc news bbc news | europe |
fake dutch 'moon rock' revealed prized moon rock a fake - a piece of moon rock
given to an overseas politician by the united states is actually a lump of
petrified wood, museum authorities revealed yesterday. http://www.freerepublic.com/focus/f-chat/2325971/posts ... 'Moon rock' in dutch museum is just
petrified wood aug 27, 2009 ... http://www.collectspace.com/ubb/Forum14/HTML/000770.html Fake moon rock at dutch national museum.
Rijksmuseum / ap. This rock, supposedly brought back from the moon by american
astronauts, http://www.usatoday.com/travel/destinations/2009-08-27-rijksmuseum-moon-rock_N.htm
, ... http://www.albertpeia.com/moonfraud.htm
In reality it is just a
piece of petrified wood ... Another piece of evidence that shows again that
apollo program is indeed a fake and a typical american fraud! http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv
]
China's Hu
urges navy to prepare for combat...
REPORT:
NKorea making missile able to hit USA...
EURO 'EXPLOSION'...
German
Politician: Downgrade Is American Plot...
MF: Corzine
expected to plead the Fifth...
Third
congressional panel to subpoena...
Dozens arrested in DC...
PAPER: Fed
may give money to IMF to help euro zone...
IN ATHENS,
BIDEN JOKES ABOUT BAILING OUT GREECE...
EURO DRAGS
GERMANY DOWN
PELOSI: DIRT
ON NEWT TO COME...
NEWT: 'Thank
Pelosi for early Christmas gift'...
IRAN BRACES
FOR WAR...
Mysterious
blasts, slayings suggest covert efforts in Iran...
REPORT: Iran
Has Missing American Drone...
TRUMP: 'Take the oil![Not
surprising from a typical american mobster / thief!]'
REPORT: Bill
Clinton collected $50k a month from Corzine's MF GLOBAL...
REPORT:
Pedophilia rampant in Hollywood...
'SOLD OUT!'
OBAMA: 'I'm
going to need another term to finish the job ( of ‘no-change-change’ - in his
dreams )'...
OCCUPIERS
TURN ON OBAMA
OBAMA
LAWYERS: Americans legitimate targets in war on terror...
Only
executive branch, not courts, decides...
OBAMA
COMPARED TO HITLER, STALIN IN NEW GUN COMPANY AD...
THE (SLIMY) NEWT TO MEET THE
(MOBSTER) DONALD...
(VO)MITT COURTS
(WAR CRIMINAL/INCOMPETENT) GEORGE H.W. BUSH...
Ron Paul
Hits Gingrich for Hypocrisy…[Indeed! In fact, Ron Paul, if not the nominee
should run as 3rd Party / Independent Presidential Candidate! It’s time for
pervasively corrupt, defacto bankrupt america to get off the same well-worn
path of ineluctable decline and failure! ]...
DoJ makes
'rare exception' to explain deception...
Withdraws
inaccurate letter it sent to Congress...
Docs raise
more questions about Fast & Furious...
Issa says Holder
ouster is up to White House...
FRIDAY NIGHT
DOCUMENT DUMP
OBAMA OFF TO
HAWAII FOR 17-DAY VACAY...
HO HO HO:
UNEMPLOY RATE 8.6%...
315,000
Americans leave work force...
YESTERDAY:
Jobless claims top 400K...
House Ethics
Committee extends probe into Rep. Jesse Jackson Jr....
Romney visits former President George H.W. Bush [ How totally
pathetic! How desperately pathetic romney the flip-flop is! ]
TWIN
'PLAYBOY' PLAYMATES: OBAMA ABANDONED THE HORSES... Horses could soon be slaughtered for meat in US Horses could soon be butchered in the U.S. for human
consumption after Congress quietly lifted a 5-year-old ban on funding horse
meat inspections, and activists say slaughterhouses could be up and running...{
Another ‘bullish’ sign for pervasively corrupt, defacto bankrupt America.
‘Soylent green’ just around the corner? [Things are looking very, very ominous:
A
good business for a bad economy Firms that keep foreclosed homes clean and
secure are flourishing in these tough financial times. (Washington Post) [ See … there you go …
great times for the american optimist … who sees an opportunity in every
calamity, the rainbow beyond every cloud, the glass half-full, etc.. Whew,
close call … and we thought times were tough … and just when we thought
everything’s now comin’ up roses, we find out that that ‘glue factory’ we
thought was for horses is really a ‘soylent green’ (of the compelling film of
the same name) factory. Ah, just kidding; but, the times are getting eerily
sordid and desperate and there’ll be no real relief from the onslaught of
reality prospectively. It’s really that bad in futuro. 43,454,601,693,238
Reasons Why The World Is Broke – Presenting The Interactive Global Debt Clock Zero Hedge October 17,
2011 http://www.economist.com/content/global_debt_clock
FED GOOSES MARKETS...
TEAMS UP
WITH CENTRAL BANKS...
MERELY 'BUYS TIME' FOR EUROZONE...
PENN STATE
SUIT ALLEGES MORE THAN 100 INSTANCES OF ABUSE...
Latest
accuser says Sandusky threatened to hurt boy's family if he reported...
University
purchases .xxx Internet domains to block usage by the porn industry...
As Home
Prices Sink, Home Ownership Heads to New Lows...
AMR/american airlines BANKRUPT...
Stock drops 85% to 20 cents a
share...
BUSINESSES
PLAN FOR END OF EURO...
Eurozone
Looks to IMF For Rescue...
Finance
Ministers Turn to Radical Ideas...
Approve $11
Billion Loan For Greece...
Germany told
it must act to save Europe…[ Who’s goin’ to save Germany? ]...
Impassioned
plea for continent to avoid 'apocalypse'...
Warned of
'highly devastating outcomes'...
Just days
until collapse?
Deadly NATO
airstrikes 'lasted over an hour'...
US image in
Pakistan 'worst ever'...
NYT: Obama
campaign set to abandon white working class…[Yeah … in favor of, ie., those
drugged up ‘workers’ in detroit who were recently exposed in a mainstream
investigative report and typifiy the why, along with costs, that jobs have left
u.s., etc.]...
Troubled
Maxine Waters set to take over on powerful committee...
PAKISTAN: 24
troops killed in NATO helicopter attack...
RETALIATE:
Pak shuts routes into Afghanistan...
Orders drone
base closed...
PAKISTAN
CUTS US SUPPLY LINES
Burn effigy
of Obama...
ULTIMATUM:
GET OUT...
NATO braces
for reprisals...
AFGHANS:
They fired at us...
PAKISTAN
ENRAGED
Britain
draws up emergency plans for collapse of Euro...
IMF
drafting $800 billion bailout plan for Italy, Spain...
REPORT:
FRANCE, GERMANY PREPARE TO TAKE DRASTIC MEASURES...
NYT: Time
runs short...
Banks brace
for breakup of euro...
Cornel West:
Ultimate Fight For Entitlements Will Be In 'The Streets'...
RIOTS
WARNED...
BLACK AND
BLUE FRIDAY… [Come on! These so-called ‘record sales’ a function of greater
numbers of store ‘early opening’ desperation, discounting, credit card spending
despite falling income, etc., hype and then there’s the hangover as in previous
/ ongoing crisis to come. ] ...
Woman pepper
sprays other Black Friday shoppers 'to gain an upper hand'...
'Girls
Punching Each Other' Over Yoga Pants Sale at Victoria's Secret...
VIDEO: Mayhem over $2 waffle maker...
NC police
use pepper spray to break up melee...
Obama hits
the links again... [Itchin’ for permanent vacation!]
Shoots
hoops, takes in a game...
Medvedev
Warns: Russia may target US missile sites...
INVESTORS
SHUN GERMAN BOND SALE...
Euro on 'Death Watch'...
Black
Friday Spending Flat...
Obama hits
the links again...
NO THANKS! WORST SINCE
1932
IRAN
CLAIMS ARREST OF 12 CIA AGENTS
U.S. ranks
25th in life expectancy -- lower than Chile and Greece...
WALL STREET
SERVES MORE TURKEY…[Actually, it’s their fraud and b***s*** catching up with
reality]...
MESS SPREADS
TO BERLIN...
NATO
airstrike kills 6 children in Afghanistan...
Triple
bombings in Iraq kill 19...
'Vigilantes'
on the prowl...
REPORT:
Latest Sandusky accuser a family member...
DEBATE
NUMBER 11...
Sparks
Fly...
Ron Paul:
Patriot Act Is 'Unpatriotic'...
ROMNEY
PROMISES FIRST TRIP AS PRESIDENT WILL BE TO ISRAEL…[romney just gets more and
more desperately pathetic!]...
Gingrich:
Cutting off gasoline would contain Iran...
Contenders
square off on immigration...
WIRE WRAP...
PAUL'S TIME
TO RISE!?
Obama pal
Rezko gets 10 years in jail...
NASCAR Crowd
Boos Michelle.. [Never a previous fan (that round and round and
round– but I do like the flats in horse-racing - Go Big Red {‘Secretariat’, a
terrific film} ), I think I’m going to change my mind in light of the fans’
display of good taste!]
White House
plans celebration of 'country music'...
Gingrich to
Occupy Wall St: 'Go get job right after you take a bath'...[National
response to slimy newt: go get a real job right after you take a bath]
Israel;
'Time has come' to act on Iran... [Time for the world to act on
illegal nuke totin’, war crimes nation israel]
Iran
conducts 4-day air defense drill...
Israel shuts
down dovish radio station...
TRUMP(Mobster
in Chief?): I MIGHT STILL RUN (In his Dreams – Those Fuher Hitler tapes he
‘religiously’ listened to have inspired him)!
Releases financial
disclosure statement...
SUPERFAILURE
Slimy newt
says: I'm the best b***s***artist...
WIRE: Ron
Paul gaining traction...
NEWT: I'm no
Bill Clinton …[Yeah, hypocrite, he’s worse, that very slimy newt] ...
Looking for
budget cuts, Congress bickers over what 'defense' means...
European
missile defense shield on the chopping block...
Police clash
with protesters in Tahrir Square over military rule...
ARAB FALL:
PROTESTS RAGE IN CAIRO...
HERE WE GO
AGAIN: Britain in secret talks with Syrian 'rebels'...
Clinton says
there could be civil war...
Russia
warships to enter Syria waters...
LAWSUIT: Man
fired for not wearing '666' sticker at work…[He should be reinstated and
receive damages!]...
IT TURNS
BLOODY...
Fury At
Sinking Economies Drives Global Demos...
GE filed
57k-page tax return; paid no taxes on $14b in profits...
SHOCK POLL
IOWA: GINGRICH 32% ROMNEY 19% CAIN 13%… { How pathetic and downright stupid
americans have become. gingrich is as big a b***s*** artist as wobama and
similarly has a scandal-ridden track record of failure, including that inside
‘money for nothing’ deal with taxpayer drain freddy’s fannie! But again, that’s
no endorsement of anyone else. What a totally lost in failure nation america’s
become. }...
Sandusky
interview prompts long-ago victims to contact lawyer...
STUDY:
Middle-class areas shrinking...
Banks in USA
Facing 'Serious Risk' on Contagion From Europe...
USA DEBT
JUMPS TO $15 TRILLION...
Fed Now
Largest Holder, Surpassing China...
Challenge to
dollar's dominance 'within decade'...
OIL STARTS
NEW SPIKE....
$102...
CNN POLL:
Whites give president thumbs DOWN 61%-36%; Non-White thumbs UP 67%-32%...[Oh
come on. Let’s get real here. Despite his blatant failure, ‘wobama the b for
b***s***’ will still get 99.99 percent of the black vote. Forget them!]
Penn State
coach says he stopped shower assault... ‘…McQueary was placed on administrative leave last
week after Penn State officials said he had received threats. According to the
grand jury report, the graduate assistant said he saw a boy, whose age he
estimated at 10 years old, "being subjected to anal intercourse" by a
naked Sandusky (according to u.s. forum posts sandusky is a polish jew whose
mother’s maiden name is fittingly ‘gross’ www.topix.com/forum/us/TM9KO1A74D6VPVFS7 ) in a shower at the Penn State football
building in March 2002…’
Paterno in
line for $554,000 annual pension...
SANDUSKY
ADMITS TO SHOWERING...
NYT: 10 more
accusers come forward...
SHOCK:
Teacher Arrested For Masturbating Behind Podium During Class...[inherently
criminal, mentally ill americans are perverse degenerates]
Trend
forecaster Gerald Celente's gold account emptied by MF GLOBAL...
'2 Bad
Corzine didn't die in his car accident!'
ANGRY
CUSTOMERS...
Saudi prince
warns against any attack on Iran...
REPORT: Iran
poised to choke oil supplies if hit by Israel...
Ready to
help Turkey with nuclear plant...
Oil price
again flirting with $100...
Post office
near default? [So what! Let UPS take over the poorly managed, unreliable usps.]… Losses mount to
$5.1B...
OBAMACARE TO
SUPREMES...
5 1/2 HOURS: High Court to Rule on
Obama's mandate...
26 States
Want Entire Law Struck Down...
Decision 4
Months Before Election Day...
Justice
Kagan called to recuse herself...
DAN RATHER:
'(gingrich) Dangerous as a wounded wolverine'...
Obama:
America's 'Been A Little Bit Lazy'…[like their vacation-prone potus]...
SOME DEMS
REFUSE TO BACK OBAMA...
Bachmann
Campaign Accuses CBSNEWS of Bias... Ron Paul Gets 89 Seconds To Speak In CBS Debate Paul
Joseph Watson | Leaked email to Bachmann campaign indicates decision to limit
air time for certain candidates was deliberate CBS News policy. [ It’s really
quite amazing that retreads, such as the already failed, scandal-ridden slimy
newt gingrich (much of america’s current failure had it’s genesis in policies
initiated / supported by gingrich; ie., protection from RICO liability for the
frauds on wall street, etc.) based on his mere adherence to that which is
required of the ‘israeli amen corner’ on capital hill (as pointed out by the
perspicacious Pat Buchanan), despite bringing america down thereby, is the
shibboleth by which all candidates are being measured. Quite amazingly
self-defeating, destructive, and self-destructive for america particularly and
the world generally. That’s why cbs is cbs (for cb***s***). Given america’s
intractable decline, it’s really quite amazing. But, as we’ve seen, pervasively
corrupt, defacto bankrupt america is now fatally beyond shame. Nothing succeeds
quite like failure in america; where crime pays and pays well. ]
CHICAGOLAND:
Thug punches out older man on train platform... http://www.nbcchicago.com/news/local/Teen-Punching-Man-at-CTA-Stop-Caught-on-Tape-133703583.html?dr
[ Typical niggers! Crowd
Laughs, Taunts: 'He knocked his ass out!' ]
UPDATE:
PENTAGON WARNED TROOP REMAINS BEING DUMPED IN LANDFILL...
PANETTA
CAUGHT FLAT-FOOTED AGAIN...
ABRAMOFF: Congress Members Took Part
in Insider Trading...
'THROW THEM
ALL OUT'...
CHINA MOCKS
US POLITICAL MODEL... { While otherwise agreeing owing to america’s
pervasive corruption and defacto bankruptcy and my direct and continuing
experience concerning same [ http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ,
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] , in light of china’s communist
form of government which is total b*** s***, I’m compelled to say it’s american
greed, corruption, and policy errors ‘that’s made china’ in light of their
‘sweat-shop, jailhouse, excessively cheap prison labor’ which is the primary
reason for their economic success, coupled with a more rational approach to
geopolitics as compared with their irrational, inherently criminal american
counterparts. I’d also add to China’s credit that their work force is far more
diligent and reliable than that of america where ‘make shift jobs’ are viewed
an entitlement to a now ‘make-shift people’, however uneconomic. It’s the
pervasive corruption, really, in america, which in China is dealt with harshly,
but in america, is rewarded substantially. Crime pays and pays well in america,
and is protected by even more crime (bribery, quid pro quo, etc.) among mob
(including government) groups, which encourages even more crime (the highest
crime rates by far in the world). That pervasively corrupt, defacto bankrupt
america is a failed nation requires no clairvoyant prescience to discern.
China’s mocking of america is well-deserved and comports with reality. Quite
simply, america’s done! That’s reality! }
'David Axelrod's pattern of
sexual misbehavior'...
Panetta
Warns Defense Cuts Could Lead to Attack on USA [ Typical incompetent guinea
from … california … wow! Look at the pelosi/panetta/boxer/feinstein once great
state of california now … horrendous, but substantially better than those
corrupt guinea/mafia strongholds new york/new jersey (italian dog-pack
mentality). Haven’t their tenures coincided with america’s/california’s
decline, with wobama the jive-talking race-card black the coup de gras?
america’s defacto bankrupt and all that that entails and the concern should
realistically be not attack from without but rather coast to coast from within.
The military industrial complex and war profiteers have benefited exorbitantly
with the likes of panetta and his ilk; yet the likes of this incompetent boob
would have never found a place in the administration of the great but substantially
underrated President General Eisenhower, a man of honor and integrity! ( And
the last legitimately elected president since the JFK assassination/coup
d’etat! ) ] ...
FANNIE MAE
taps $7.8 billion more from Treasury, loss widens...
60 MINUTES
Expected to Air Investigation of Pelosi Stock Investments...
MILITARY
DUMPED REMAINS OF DEAD SERVICEMEN -- IN LANDFILL… [ pervasively corrupt,
defacto bankrupt america’s a nation without honor – they’ll use and abuse you,
even post mortem ] ...
Alabama
county seeks to file biggest municipal bankruptcy...
THE BIG
BREAKUP...
Merkel Calls for 'New
Europe'...
STOCKS PLUNGE ON FEAR...
Italy's Woes Signal 'Dangerous
Phase' in Crisis...
'Contagion Spreading; They've Got to
Stop This'...
Greek Unity
Deal in Disarray...
THE FALL OF
BERLUSCONI...
Humiliated
in parliamentary vote...
French ready
for pain as debt reality bites...
Victims
Double In Penn State Case...
...Boys
Raped In Showers
Car of
Republican Philly Mayor Candidate Vandalized -- for the 10th Time!
[ The ‘city of brotherly love’ that loves the bros! I was recruited by Temple
University, but not seriously from my own perspective, infra; but, I had never
seen a college wrestling match, so I went along as invited. When we came out
from the match, the quiffy spike israel’s ‘little buddy’ jimmy fiore’s car was
‘sitting’ on its rims, all four tires stolen, etc.. --- On Wed, 11/18/09, ethan lichtblau <[email protected]>
wrote:
From: ethan lichtblau <[email protected]>
Subject: Your NYU Wrestling Experience
To: [email protected]
Date: Wednesday, November 18, 2009, 11:39 AM
Hi Al,
I know of you from my old wrestling coach, Ron Pollack. I know that you
wrestled at NYU, and that you won the Met Championships. I am writing a
book about my own experiences in wrestling, judo, and ju jitsu. I
wrestled in the Met championships in 1984 when they were held at NYU, and I
remember seeing an old newspaper article they had on display that talked about
you winning the Mets in '72 or '73. You beat Pollack in the finals.
Pollack's coach was quoted in the article as saying
that Ron "gassed out", I'm assuming from nerves.
I am really interested in the phenomenon of "choking" in a
sports event due to being nervous. I was wondering if you had any memories
you could share about this particular match? I know it was a long
time ago, but if you do remember anything I would appreciate whatever you could
share.
Regards,
Ethan Lichtblau
Date: Wed,
18 Nov 2009 22:50:55 -0800
From: [email protected]
Subject: Re: Your NYU Wrestling Experience
To: [email protected]
Hello
Ethan:
The mother of one of our team mates worked with Ron Pollack's dad who kept
telling her how badly Ron Pollack was going to beat me (some others played him
up saying he consistently beat his team mate stu pruzansky by substantial
margins and other such things). In fact, he took an early lead with a take-down
that he was quite good at and I was looking for (something between a firemans'
carry and a barrel role)[1972]. However, by the end of the match, he was quite
haggard, in tears, and I actually had to hold him up on the podium. My tougher
match was the semi's where I met two-time defending Met Champion Ed Rufrano (he
got a special trophy for scoring the most team points
over a period of time). He was quite strong and although I won, I had slipped a
cervical disk (for which I ultimately needed traction - I couldn't even do a
push-up after a couple of days which is very humbling when one relies so much
on will-power). I had also beaten Ron in the finals of the Freshman Met Tournament. I was injured by the end of the season in
the two prior intervening years (interestingly, the neurologist for the
herniated disk pointed out that my bones were relatively small compared to my
musculature/body-mass). I was fortunate to have a great coach in Roger Saunders
(Roger and his brother Richard, a former CIA Agent/Mechanic, were both National
Champions). I couldn't imagine Roger saying one of his wrestlers "gassed
out", even if true. Ron certainly didn't "choke" in the first
period, if at all.
Regards,
Al Peia
______
From: ethan lichtblau <[email protected]>
Subject: RE: Your NYU Wrestling Experience
To: "Al Peia" <[email protected]>
Date: Thursday, November 19, 2009, 2:07 PM
I really appreciate your insights about this. I never got a
chance to speak to Ron about his own college wrestling days. I only
knew him when I was in high school, where he was coaching a bunch
of local high school wrestlers on a part time basis. He was
also helping out at his alma mater
(?FDU) assisting a guy he used to refer to as "Metz" or
"Metzy". By then he was a fairly un-assuming guy and never even
told me that he had taken a 2nd at the Mets when he was in college.
By the time I went off to NYU Ron had left town to go to chiropractic
school, and I don't think we ever saw each other again.
I now remember what struck me so much about that article that was posted
at NYU. It was accompanied by a picture of three guys on the
podium. You were holding Ron up and he was crying. It's really
a classic picture, even more so because unless you know
the "back" story you can only imagine what is going on in
the wrestler's heads at the moment the shot was taken. I saw this
picture once about 25 years ago and it still sticks in my head.
I was wondering if you could clarify: I am assuming your coach
was named Saunders. He wasn't the one who spoke of gassing out.
Like I said above, I thought Ron was coached at FDU by a guy he used to refer
to as "Metz". It was either Ron's coach (whoever he might
have been) or perhaps Ron himself that stated in the article that Ron
had "gassed out". I also remember now that there was some
suggestion that he had come down with a flu, which might explain his reaching a
state of exhaustion by the end of the match. Or perhaps you just kicked
his ass in in the last 2 periods.
Speaking of Stu Pruzanski, I never met him , but I knew his
brother Dave a bit. Dave owned a gym in the early '80's and our
Judo club used to work out there for a while. This was another guy who
never really told you much about himself. I only found out years later
that he once wrestled Gable to a tie. He was also the only guy
to ever win US National championships in
Judo, wrestling, and Sombo, all in the same year. (?1972). Years
later, maybe 1985 or so, he decided to make a comeback in Judo. He cut a
shit load of weight and ended up fighting me in the finals of a small regional
tournament. I beat him by decision, but really got no satisfaction
out of beating a guy who was so out of shape. Can't remember if this
was before or after one of his kids committed suicide.
Ethan
Date: Thu,
19 Nov 2009 23:49:19 -0800
From: [email protected]
Subject: RE: Your NYU Wrestling Experience
To: [email protected]
Roger Saunders was my coach at NYU and clearly, a great one at that, who
subsequently went to Bloomsburg where he was ultimately Athletic Director on
last info. Bob Metz had quite a few winning teams at FDU, but he was not
Saunders whose brother's wrestling success I alluded to so as to emphasize his
wrestling prowess as no fluke. The last I heard of Dave Pruzansky he was diving
out of a window of his house to evade police who had busted his drug-dealing
operation. As a wrestler he was no joke and you did well to beat him and are
too modest. I included reference to pruzansky because they developed a very
curious, bizarre, and almost gang-like mentality within their "wrestling
click". Upon information, many (if not all) of their clique "amped
up" on amphetamines before their matches. Very close to their clique was
the very weird and corrupt ref spike israel. The very quiffy spike israel had a
"little buddy" jim fiore and had recruited David and his little buddy
(among others) to Temple University to which he
had some connection, and actually attempted to recruit me to same. I didn't
take him seriously; firstly, because he told everyone he had been a state champ
(bull s**t); secondly, because he had screwed me in a high school match wherein
I had pinned leonard pruzanzky in the first period (I had him on his back
almost the entire first period and israel gave me no back points, 2 or 3 for
near fall, let alone the pin, and just the takedown and I lost by a point on
riding time-leg ride). In an open tournament (I think Stroudsburg?), I was
looking at the seedings/pairings/chart and David came up behind me pointed to
my entry and said to the guy he was with that I had beaten his brother leonard.
Roger required our team during one Christmas
break to compete in my first and only free-style tournament. I was up two
weight classes and David won quite handily. That was the third time I had
beaten Ron and frankly, I did grind him into the mat and kick his ass for the
late balance of the first period and the remainder of the match.
The
following is a reply on facebook to someone who said I beat him in wrestle-off
and
completes
my wrestling story.
Good luck
to you in all your endeavors.
Regards,
Al Peia
Howard:
Thank you
for your gracious and overly humble comment. Over time, such things become less
and less important and I can't say that I actually recall that, per se. As we
both know, wrestling was never a pleasant undertaking and although I
respect(ed) the sport, I made it a point never to set foot on a mat off season.
You may also find it somewhat ironic that I actually had made the basketball
team (Hubie Brown for whom I had high regard was
varsity coach and Richie Szura the J.V. coach), which sport I enjoyed; and in a
meeting arranged by Dan Deluca (I had won a tournament in junior high and the
match against the rival Thomas Jefferson Junior High) with Coach Szura wherein
Szura nicely but candidly told me that although I had made the team, "that
I wasn't the tallest of angels" (which I thought was very funny and we all
laughed) and essentially I'd be warming the bench while Deluca guaranteed me a varsity letter for wrestling the easy matches since
varsity wrestler Richard Zocco was having difficulty making weight (he never
made weight). As trite and cliched as it sounds, it was the varsity letter
guarantee that sealed the deal (and in my mind, the prospective "help with
the babes therefrom" - actually, it was only the pretty sophomores with
whom it ultimately paid dividends so to speak - how very high school). I had a
great Coach in Roger Sanders who recruited me to
NYU (Roger and his brother Richard, a CIA agent/mechanic, were both national
champions). Wrestling has always been an important learning experience for me.
Such a kind and humble remark as yours deserved a greater explanation.
Al
______
From: ethan lichtblau <[email protected]>
Subject: RE: Your NYU Wrestling Experience
To: "Al Peia" <[email protected]>
Date: Monday, November 23, 2009, 5:30 AM
Truly,
thanks for all your info. Interesting that you should mention Spike Israel. I am assuming that the
word "quiffy" is code for "gay". Spike was coach
at Tenafly High when I was in high school, and
was known to "like boys". Apparently he taught the Tenafly guys
only one move, the Granby roll, which they
were all quite good at, but very little else. Besides Ron in the
early '70's and Steve and Dave Yale in the later '70's Tenafly basically had no
decent wrestlers during that period. Not really sure if this was a
coaching issue or recruiting issue. Our high school (DMHS in
Englewood) had former state champ Bob Hurley (Bergenfield) as our
assistant coach and former state runner up Reggie
Williams (Hackensack) as head coach, and we also fielded very few good
wrestlers during those years.
Ethan
--- On Thu, 11/19/09, ethan lichtblau <[email protected]>
wrote:
From: ethan lichtblau <[email protected]>
Subject: RE: Your NYU Wrestling Experience
To: "Al Peia" <[email protected]>
Date: Thursday, November 19, 2009, 2:07 PM
I really appreciate your insights about this. I never got
a chance to speak to Ron about his own college wrestling days. I
only knew him when I was in high school, where he was coaching a bunch
of local high school wrestlers on a part time basis. He was
also helping out at his alma mater
(?FDU) assisting a guy he used to refer to as "Metz" or
"Metzy". By then he was a fairly un-assuming guy and never even
told me that he had taken a 2nd at the Mets when he was in college.
By the time I went off to NYU Ron had left town to go to chiropractic
school, and I don't think we ever saw each other again.
I now remember what struck me so much about that article that was posted
at NYU. It was accompanied by a picture of three guys on the
podium. You were holding Ron up and he was crying. It's really
a classic picture, even more so because unless you know
the "back" story you can only imagine what is going on in
the wrestler's heads at the moment the shot was taken. I saw this
picture once about 25 years ago and it still sticks in my head.
I was wondering if you could clarify: I am assuming your coach
was named Saunders. He wasn't the one who spoke of gassing out.
Like I said above, I thought Ron was coached at FDU by a guy he used to refer
to as "Metz". It was either Ron's coach (whoever he might
have been) or perhaps Ron himself that stated in the article that Ron
had "gassed out". I also remember now that there was some
suggestion that he had come down with a flu, which might explain his reaching a
state of exhaustion by the end of the match. Or perhaps you just kicked
his ass in in the last 2 periods.
Speaking of Stu Pruzanski, I never met him , but I knew his
brother Dave a bit. Dave owned a gym in the early '80's and our
Judo club used to work out there for a while. This was another guy who
never really told you much about himself. I only found out years later
that he once wrestled Gable to a tie. He was also the only guy
to ever win US National championships in
Judo, wrestling, and Sombo, all in the same year. (?1972). Years
later, maybe 1985 or so, he decided to make a comeback in Judo. He cut a
shit load of weight and ended up fighting me in the finals of a small regional
tournament. I beat him by decision, but really got no satisfaction
out of beating a guy who was so out of shape. Can't remember if this
was before or after one of his kids committed suicide.
Ethan
Ethan:
"As a wrestler he
was no joke and you did well to beat him and are too modest."
To reiterate: you are far
too modest!
Good
luck to you in all your endeavors.
Regards,
Al Peia
RUSSIA [ The
Rational Pan-European Nation ] WARNS AGAINST STRIKE ON IRAN...
PAPER: Wall
Street 'MORE profitable'...
Extreme
Poverty Now At Record Levels...
REPORT:
Greek PM to resign today...
'Point of no
return'...
BERLUSCONI
TO BAIL?
Intrigue and
betrayal in Rome...
Speculation
over departure roils markets...
Italy: Too Big to Fail, Too Big to
Save?
Allies push
Berlusconi to resign...
'The beginning of the end'...
Italy
protesters rally against Berlusconi...
... While
Silvio naps
Defiant
Berlusconi refuses IMF bailout...
US
approaches $15 trillion debt limit...
CHINA:
Europe induces 'sloth, indolence'...
TRUTHFUL
TRASH TALK (ABOUT ISRAELI TRASH) BEHIND ISRAELI LEADER'S BACK Report: Sarkozy calls Netanyahu 'liar' Microphones accidently
left on after G20 meeting pick up private conversation between US, French
presidents. Sarkozy admits he 'can't stand' Israeli premier [ Yes …
netansayahu! ]
12 US TROOPS
KILLED...
FREDDIE MAC
seeks further $6 billion from taxpayers...
AIG records
biggest loss since 2009...
'I will
never stand for national anthem again. I will turn my back and I will raise
fist'...
Judge Tosses
TSA Case; Lawyer told ruling 'national security'...
LEAVING
'FASCIST AMERICA', VENTURA OFF TO MEXICO
WHITE
HOUSE REJECTS SOLYNDRA SUBPOENA...
US
approaches $15 trillion debt limit...
G-20 Fails
to Agree on IMF Resources...
Suicide
bomber targeted American NATO bus in Kabul...
TALIBAN
CLAIMS CREDIT...
POLITICO:
Two women accused Cain of inappropriate behavior… [ Read my lips: NO NEW
NIGGERS! … even a fallen despoiled nation in intractable decline as america can
do better than that; ie., wobama v. cain ? (besides, there’s that ‘cancer
problem’, amidst scandals exceeding ‘pubic hairs on soda cans’); this is no
endorsement of anyone else. As a matter of fact, that there are two niggers
vying for the presidency is a testament to how far america has fallen. Maybe
pervasively corrupt, defacto bankrupt america can look to sub-saharan africa
for their models of governance. IT’S OVER: Cain Is Done Business Insider | The scandals
swirling around Herman Cain today will be fatal to his presidential ambitions. ] ...
Cain Chief
Of Staff Calls On Perry Campaign, POLITICO To Apologize...
'Chicagoland
hit'...
Debt
Increased $203B in Oct.: $650 For Every American...
Number of
Americans on food stamps rises 8% to 45,800,000...
Greek
Vote On Bailout Plan Due 'Within Weeks'...
Fears rising
about impact of euro on daily life...
France, Germany
demand decision...
FBI moves in
on Corzine's MF GLOBAL...
FLASHBACK:
Corzine floated for Treasury Secy...
China (the
rational nation financially, economically, geopolitically) sells missiles to
Iran in violation of UN sanctions (where are the sanctions against
israel/america et als for war crimes, violations of international law/u.n.
resolutions, etc.) ...
Israel
test-fires missile that could hit Iran...
NETANYAHU
RALLIES SUPPORT FOR ATTACK...
UK steps up
plans for possible strike...
Greece Vote on Bailout STILL ON...
Gov't 'On
Verge of Imploding'...
Military
Chiefs Replaced...
ON THE
BRINK...
STEVE
JOBS DEAD
EU leaders
race to save deal...
Emergency
meeting in Cannes...
Vote
threatens Sarkozy re-election plans...
PAPER: World
faces years of social unrest as economies falter...
Herman Cain:
The Attacks On Me Are Racially Motivated … [There it is … the race card …
riiiiight!] ...
CONDI TO CAIN: DON'T PLAY THE
CARD...
ISRAEL AUTHORIZES
'GROUND OPERATION' TO STOP GAZA ROCKETS...
Washington
fears unilateral strike on Iran...
Israel improving
nuclear abilities[ War crimes nation, illegal nuke totin’, defacto bankrupt
american albatross israel keepin’ america’s direction and attention misdirected
]...
NEW ORLEANS:
15 shot, 2 dead in Halloween shootings [Yeah, those niggers really love ‘candy’
of any kind]...
FLASHBACK:
'I'M READY FOR HIGH-TECH LYNCHING'...
Second
Energy Department-backed company goes bankrupt...
Corzine's MF
GLOBAL files Chapter 11...
Likely Among
the 10 Biggest Bankruptcies Ever...
Iran demands
apology over Saudi ambassador assassination plot charge...
Palestinians
win full membership on UN cultural agency … [ This is both productive and
positive! ] ...
WORLD SERIES
WILD! [Congratulations to the St. Louis Cards … I’m so glad they won
since bush / bushes no doubt were routing for their old Rangers team! ]
EU Officials
look to Beijing, Tokyo -- borrowing costs rocket...
Cameron:
London 'under constant attack' from EU...
GALLUP:
OBAMA APPROVAL SKIDS TO NEW LOW...
FIST FIGHT
BREAKS OUT IN ITALIAN PARLIAMENT...
MERKEL: We should not take peace for
granted...
'Significant
new offer' from bondholders...
EU SAVED --
BY CHINA?
SUMMIT
FATIGUE: Endless gatherings take toll on leaders...
Berlusconi
forced into corner...
FARRAKHAN
LASHES OUT AT OBAMA; CONDEMNS GADHAFI 'ASSASSINATION'...
AUDIO...
DOOM: Fears
euro summit could miss final deal...
'Unknown
territory'...
No bet on
disaster...
Finance ministers cancel meeting...
Berlusconi
fights to save coalition; Gov't on brink of collapse...
Greenspin: European Union Doomed to
Fail...
Japanese yen
jumps to new postwar high...
KILL BOUNCE:
OBAMA MOVES UP TO 44% AT GALLUP… [I don’t believe this poll number for even one
second … this is solely a manipulated ‘pavlov dog conditioning’number]...
Treasury
considers 'new' debt security...
Bank
Predicts Another US Downgrade -- In Just Few Weeks...
EU 'bank
failures will crash Wall Street'...
Pressure on
Italy...
New euro
'empire' plot by Brussels...
Germany's
economic might sets off alarms...
Defections
by Senate Dems Hamper Message on Jobs...
Unemployment rate rises after
Obama visits NC...
DNC's 2012
host state posts highest payroll losses...
DC area tops
income list; Avg fed employee makes $126,000 a year…[With the exception of law
enforcement, ie., FBI, fed employees are uneconomic and almost without
exception, a total waste of money]...
Reid says
govt jobs must take priority over private-sector...
Americans'
Standard of Living Drops Sharply...
Antidepressant
use skyrockets...
RUSSIA:
GADDAFI DEATH BREACHED LAW
Greece may
need 60% bond writedown; EU at odds...
Greeks ask
God for help…[ Not granted! ]...
S&P:
France Likely to Lose Top Rating...
EUROPE
BRACES FOR 'DOWNGRADE BLITZ'...
FLASHBACK:
Gaddafi: Obama is friend...
KILLED IN
HOMETOWN...
CAPTURED
ALIVE...
'DON'T
SHOOT'...
Cost of
Libya operation: $1 Billion...
Clinton: 'We
came, we saw, he died'...
GRAPHIC VIDEO...
FLASHBACK:
Farrakhan: 'That's a Murderer in the White House!'...
HIT LIST:
Obama warns other Mid East dictators THEY COULD BE NEXT...
TIMING? U.S.
busts two Iranians today over terror plot Obama was briefed about in June...
{ U.S. accuses Iran of plot to kill Saudi ambassador [ Oh come
on! That’s as likely as wmd’s in Iraq; or, america and israel hatching such a
plot so they can blame same on Iran. The point is, when it comes to nations
that both war-mongering israel/u.s. would love to make, not love, but war on,
they’d literally say anything; even to the point of paying anyone to say
anything … yellow cake anyone? (‘Bush and Iraq: Follow the Yellow Cake Road’ Read more: http://www.time.com/time/world/article/0,8599,463779,00.html#ixzz1aWL8TndC
‘...the White House defense, having now admitted a falsehood in President Bush's claim, in his State of
the Union address, that Iraq had tried to buy uranium in Africa. Read more: http://www.time.com/time/world/article/0,8599,463779,00.html#ixzz1aWKsd9dp
] }
ENTHUSIASM
GAP: Rs 64%, Ds 43%...
POLL: CAIN 43% OBAMA 41%
WAR DRUMS:
Obama Presses Inspectors on Iran Nuclear Data...
Iran's
former president warns of possible US attack...
Day of
'Global Revolution'...
FITCH: More
Than Dozen Banks May Get Downgraded...
BATTLE ON
'OCCUPY'...
Bloomberg
backs down...
Giuliani
[ghouliani / mafiani]: I Would've Told OWS Protesters, 'Streets Are Not For
Sleeping,' 'Rent A Room' [ from mafia owned / ‘protected’ hotels only, as per
political opportunist –9/11, 9/11, 9/11- ghouliani / mafiani ] [ the difference
between the facist / neurotic approach of ghouliani and the rational approach
of Bloomberg ] ...
'PARTY' IN
TIMES SQUARE!
DENVER
POLICE MOVE IN...
10 ARRESTED
IN SEATTLE...
SD CAMP
DISMANTLED...
OBAMACARE ALREADY FALLING APART?
GRENADES TO
MEXICO...
Obama Spoke
About Fast and Furious Before Holder Claimed He Knew...
SHRINK:
Obama suffers from 'father hunger'...
In Holder
Subpoena, Issa Also Probes WH Press Aide...
BOOK WARNS OF END...
'Defend The
Occupation!': Protesters Ask For Sunrise Support, Tell People To Call 311 To
Complain...
PELOSI
UNHINGED: Republicans 'want women to die on floor'...
Obama
invokes race...
'Unusual'
meeting between US, Iran over plot...
G20 finance
ministers gather as time runs out...
Spain Credit Rating Cut...
Europe
tempted to save Greek trauma for later...
BUCHANAN: Is
the New World Order unraveling?
Panetta
warns budget cuts will force retreat in Africa [ Retreat? What alternate
universe is this guy from … oh right, ‘the land of fruits and nuts’ ]...
CHICAGOLAND:
Video captures two girls violently beating fellow female student...
‘ Tim
Holt · Top Commenter
how many KNEW that this would be black girls when you read the headline?’ [
Isn’t that the truth … typical niggers! ]
Pack of 30
girls attack 15-year-old girl for cellphone...
WAR DRUMS:
IRAN CALLS 'TERROR PLOT' LIE
Saudis say Iran
must 'pay the price'...
Hillary:
'Dangerous escalation'...
Warren
Buffett made $62,855,038 last year...
Company still owes as much as
$1B in back taxes...
CHICAGOLAND:
Union boss to rake in $500,000 yearly pension...
Issa
subpoenas Holder...
Holder ends
press conference after questions on Fast and Furious...
Subpoenas
for Atty Gen imminent...
Belafonte:
Herman Cain 'is bad apple'...
Cain Fires
Back: 'I Left Democrat (for the Republican) Plantation Long Time Ago'...
Afghanistan
shuts down graft probe...
Not a single
Christian church left in country...
AL-QAEDA QUESTIONS LEGALITY OF KILLING U.S.
CITIZEN
TIME
SHORT: UK PM says euro has just weeks .. disaster...
100+ 'Fast
and Furious' guns found in Mexico cartel home...
HOLDER ON
HOT SEAT...
Issa:
Subpoenas issued soon...
Iran calls
Wall Street protests 'American Spring'...
Chavez slams
'horrible repression' of U.S. protests...
Pope
denounces 'inhuman' mafia...
Opposition
grows, hardens...
GALLUP:
OBAMA AT LOW...
Italy, Spain
Ratings Cut by FITCH; Belgium Is Put Under Review by MOODY'S...
FINANCIAL
CRISIS 'WORST WORLD HAS EVER FACED'...
MOODY'S Cuts Rating on 12 UK
Financial Institutions, nine Portuguese banks...
DEPENDENT
STATES OF AMERICA: Nearly Half Live in Households Receiving Govt Benefit...
Wall St
protest expected to swell...
FINANCIAL CRISIS 'WORST WORLD HAS
EVER FACED'
IT'S
OFFICIAL: Housing bust worst since Great Depression...
Sanitation
Becoming Concern...
Pelosi on
Protesters: 'God bless them'...
LA Mayor
Villaraigosa Hands Out Ponchos...
Dallas
Federal Reserve Targeted...
Secret panel
can put Americans on 'kill list'...
CHICAGOLAND:
Bodies double up at morgue...
Post
Office's Rescue Plan: More Junk Mail...
College Walk
Out Planned; 'Anonymous' Releases Threat Against NYSE...
Occupy Wall
Street 'Stands In Solidarity' With Obama Front Group...
Stocks'
massive 'melt-up' fans investor fears...
Police,
rioters clash in Greece as nation goes on strike...
Geithner warns
Europe crisis global threat...
Issa to
Holder: Admit you knew...
Holder
changes story...
DoJ quietly
demotes ATF officials involved in Fast and Furious...
White House
screams, swears at reporter for covering scandal...
Is CBSNEWS
Silencing Reporter?
Afghanistan
violence up 39% over last year...
REPORT:
WHouse awarded $5M 'bonus' to state for Food Stamp signup...
DICK MORRIS
CLAIM: 'Very Possible' Obama Will Bow Out Of Presidential Race...
'AMERICA'S
GOTTEN A LITTLE SOFT’ [Yeah! Soft in the head for tolerating wobama’s b***s***]
'
GALLUP:
(wobama approval) Back in the 30s...
BLOOMBERG
WARNS OF RIOTS...
Assad
threatens to attack Tel Aviv in case of NATO strike...
Russia,
China veto UN resolution on Syria…[Rationality Prevails!]...
Clashes in
Saudi Arabia leave 14 wounded...
Police open
fire on civilians... [But this is ok because saudi arabia’s a
doormat for israeli/u.s. interests]
GOP
calls for special counsel to investigate Holder... Developing...
WHEN DID HE
KNOW?
Holder
changes story about ATF gun-running op...
'Either
Incompetent' or 'Misleading Congress'… [How ‘bout both! … he’s typical!]...
White House
screams, swears at reporter for covering scandal...
'RECOVERY
CLOSE TO FALTERING'
Michael Moore:
The Rich Are Out Of Control, Kleptomaniacs And Sociopaths...
Michelle
Obama's Africa Vacation Cost More Than $432,142...
Daughters
listed as 'senior staff'...
ESPN YANKS
HANK WILLIAMS JR. FROM 'MONDAY NIGHT FOOTBALL'...
LIKENS OBAMA
TO HITLER...
VIDEO...
PUTIN EYES 'EURASIAN UNION'
PAPER: China
or USA? Make your choice...
Greece Falls Into 'Death Spiral'...
RON PAUL
FLOATS IMPEACHMENT FOR DRONE KILL OF U.S. CITIZEN...
'YOU'RE NOT
BETTER OFF'...
Claims
'underdog' status for 2012...
POLL:
Majority expect him to lose...
Cantor:
Obama's Jobs Bill Dead; His 'All-Or-Nothing Approach' Is Unacceptable...
Mosque Set
on Fire in Israel...
REUTERS:
Christie faces White House decision this week...
[ To be
president of the now disunited states like no time since the civil war, one
really must want to be president. Governing new jersey is probably the easiest
political position in the world inasmuch as the same is totally controlled. New
york is a close second to jersey in those terms, complicated only by the
arrival, politically like never before, of the wall street frauds (the
fraudulent goldman era, beginning more serious than ever politicking with
rubin, paulson, etc., probably owing to their far larger frauds for which they
needed ‘protection’ in the form of ‘political muscle’ – which they got.). The
gangs of jersey, new york have a history that’s endured in terms of impact
longer than the political parties themselves; proximity to and control of the
local vote multiplied many times by the controlled localities ‘they serve’. In
jersey, you can’t get elected without the mob; in some areas the mob
controlling both parties. [ brendan byrne, who brought the final take-over /
scourge / quid pro quo, viz., the casinos, james florio, mario cuomo (progeny
andy cuomo), etc., had publically known mob ties. Less conspicuous would be the
likes of old money play-along tom kean, whose desperation to breathe life into
the moribund political career of his son is evident to all; including his
cover-up report on the 911 incident which was probably the worst of its kind
since that other non-jurist, politician / former governor of California warren
report / cover-up of the coup d’etat / JFK assassination. Just who are these
so-called ‘conservatives’ holding back funding while urging jersey christie’s
run ‘for the gold’. No … I couldn’t care less about his girth, the goodyear
blimp / humpty dumpty jokes, etc.. Yet, one has to wonder why a prior decision,
given even further consideration upon God knows who’s self-interested
prompting, is suddenly firm today yet malleable tomorrow. Forbes, (and hannity
I suspect), of jersey himself (themselves) seems close to this yet one still
must wonder ‘what the deal is’. More importantly, for jersey (n.y.) candidates,
‘with whom’. That wobama, as a black man realistically / potentially viewed as
the ultimate outsider, would make promises that got him elected, yet renege on
nearly all of same is a testament to how totally controlled these gutless
politicians are and proving how such lack of courage spells not only their own
unequivocal failure (wobama as bush failure 3, et als), but certainly for that
of the nation as well ( Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.’THE
OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
). Quite simply, there is really no good reason why a jersey politician
should change his mind about something that should be at one with the person
himself. After all, we all must at least assume jersey governor Christie is a
man of reason who previously made an unequivocal, publically announced, widely
covered decision for what must be assumed a good reason. ]
FORBES:
CHRISTIE DECISION WITHIN 72 HOURS...
CLASH ON
BROOKLYN BRIDGE...
More than
700 arrested in 'Wall St' protest...
Dozens
cuffed in Boston after targeting BANK OF AMERICA...
Protests
spread across USA...
Los
Angeles...
Chicago...
Denver...
Seattle...
Greece to Miss Deficit Targets
Despite Austerity...
'Leaders are
pushing the world into Depression'...
Al
Sharpton's office admits handing out possibly bogus stimulus check forms...
Iran Supreme
Leader: Palestinian UN statehood bid doomed to fail...
Hamas:
'Resistance' against Israel is only option left...
STOCKS SUCK...
Wall St.
ends rotten quarter in sour mood...
Dow Notches
12% Drop...
No Rise in Home Prices 'until
2020'...
Feds:
SOLYNDRA Won't Reveal Contracts, Customers or Exec Bonuseslt (typical american
boondoggle) ...
DOE pushing ahead with $5b more in solar
loans (another american boondoggle) ...
Strikes
hamper Greek rescue effort...
Sarkozy,
Merkel to Meet...
$200K Per
Job? Geithner Says White House Plan Still Bargain … [ Riiiiight! .. In what
alternate reality beyond political desperation mode? ] ...
GERMANY
SLAMS 'STUPID' US PLAN FOR EURO...
CHAOS:
THOUSANDS LINE UP IN PHILLY FOR FOOD STAMPS...
Protester
calls Obama 'Anti-Christ'...
Fundraising
plunges...
'Titanic
struggle' for re-election...{ Axelrod:
Obama faces 'titanic struggle' [ Yes indeed! A titanic struggle for
control of the Titanic, the USS Titanic, sinking from its own weight of pervasive corruption, defacto
bankruptcy, and fatal, immutable structural flaws! ] }
CA CITY HAS
32.4% UNEMPLOYMENT RATE!
POLL: Paul beats Obama
51-49...
COPS: Mob of
girls charge house after high school fight; 2-year-old girl shot...
DEM GOV.
CALLS FOR 'SUSPENDING ELECTIONS' … [ the wobamanoid plan … for even greater
nation-breakin’ disaster! ]...
Former Obama
budget director: 'We need less democracy' to 'counter gridlock' [ How
desperate, these wobamanoids… How pathetic! ] ...
Split over Greek bail-out terms...
NOW IMF
NEEDS BAILOUT!
PUTIN FOR
LIFE...
Police in
Moscow raid bank of political opponent...
Finance
chief rebels...
Merkel:
Greek default would destroy faith in Europe...
French left
seizes Senate majority, hurts Sarkozy...
Plan B:
Flood markets...
S&P:
Larger Fund Could Weigh on Ratings...
SIX WEEKS TO
SAVE THE EURO...
IMF to
increase resources to more than $1 trillion...
Wall Street
protesters pepper-sprayed, cuffed...
90
arrested...
VIDEO: Wild scene...
Catalonia's
last bullfight … [How wise, and nothing less than what one would expect from
the place that has given rise to among the greatest artists in the history of
this world.] ...
PAYBACK [ Retaliation ]: S&P
Could Face Legal Action From SEC Over Ratings...
SUMMER SALE: Dow plunges 391
points...
Global
markets tumble 4%...
ZOELLICK:
'World in danger zone'...
SOROS: USA already in double-dip...
Abbas moves
for statehood...
'We shall
not recognize a Jewish state'...
NETANAYAHU
is a 'Theater of the absurd'...
Calls UN
'House Of Lies'...
CLASHES IN
WEST BANK...
LIVE...
Pakistan
warns US: 'You will lose an ally'...
SHUTDOWN:
Harry Reid kills bill to keep gov't running...
Postpones
disaster relief vote...
...for Dem party, fundraiser
at island retreat!
BLOW: Obama
fundraiser got $107m in federal tax credits for wind power...
Credit
stress 'reaches pre-LEHMAN danger levels'...
BAD BLOOD:
Bill Clinton: Netanyahu killed peace process...
GLOBAL
SYSTEM UNDER PRESSURE...
GALLUP: 55%
DISTRUST MEDIA...
Palestinians
Delay Call for Quick Vote...
State bid
'only alternative to violence'...
UN chief
urges Israel 'restraint'...
Obama
re-affirms desire for Palestinian state...
Venezuela,
Cuba defend Iran...
IMF warns on
global financial system...
MOODY'S
downgrades three US megabanks...
Man returns
with shotgun after TACO BELL worker forgets hot sauce...
IHOP Hires
Bouncer To Control The Rowdy...
Approval
Among Liberals Hits All-Time Low...
LIBS
VOW PRIMARY CHALLENGE AGAINST OBAMA
IMF WARNS:
INTO THE DANGER ZONE...
...warns of
USA 'lost decade'
USA building
secret drone bases in Africa, Arabian Peninsula...
Chavez:
Israel committing genocide...
Iran: Israel
killing our nuclear scientists...
Palestinian
move hits Dem vote base; Republicans woo Jewish electorate...
Israel
Floats 'Interim Solution' To Palestinian Statehood Debate … [ Half measures
will not do! Too much time, resources have been wasted! Time for the ‘final
solution’… the choices: peaceful or non-peaceful; rational or irrational;
reasonable or unreasonable! There has been nothing to have changed the
reasonable expectations created by secretary of state clinton herself in
espousing this administration’s unequivocal position espousing Palestinian
statehood! ] ...
REPORT: SOLYNDRA
execs to plead Fifth...
HOUSE TO PROBE
OBAMA ACTIONS ON GOV'T LOAN...
Second witness
says White House tried to steer testimony...
Air Force
general claims he was pressured...
WIRELESS:
Obama invested in Falcone-funded Co....
FLASHBACK:
'I thought about going to Warren Buffett, and I decided it would be
embarrassing I only had $100,000'...
CHICAGO
TRIBUNE: Why Obama should withdraw from 2012 race...
Black Caucus
chairman: If Obama wasn't president, we would be 'marching on the White House'…
[ Which means typically, reasonably as
suspected, the black caucus is racist and without any credibility whatsoever;
particularly in their support of wobama, ‘the last negro’ … What an insecure,
jive-talking, stereotypical dismal failure wobama’s turned out to be … he’s
totally pathetic … he’s proven to be just another of his type who’s gotten by
on b***s*** and ‘special understanding / consideration’ his entire life … yes, the last negroe! …
wobama’s basically re-running his last and now endless campaign expecting all
to believe him this time around … this last negroe! ] ...
OBAMA'S JOBS
BILL WON'T BE READY UNTIL NEXT MONTH, AFTER ANOTHER VACATION...
$3 in tax hikes
for every $1 in spending cuts...
NEW BOOK
TELLS OF DISCORD IN OBAMA ECONOMIC TEAM...
Women
'excluded and ignored'...
REPORT: Rahm
threatened to burn down house of statehouse foe...
Protesters
hit Wall Street...
'US Day of
Rage'...
Cops Lockdown Wall Street From
Day of Rage Protesters
$1,500,000,000,000
IN NEW TAXES
GREEK
BLEAK...
WREAK...
RETIREE
BENEFITS FOR THE MILITARY COULD FACE CUTS...
Fed Expected to Launch New Program
as Europe Boils...
Europe digs
ever deeper debt hole...
Palestinians
demand statehood...
Holy Land
clerics bless...
Jewish
groups worried by Vatican gesture...
Obama faces
awkward dilemma...
NYC security
on alert for UN assembly...
Emergency
meetings to avert Palestinian crisis...
TURKEY
PROPOSES PARTNERSHIP WITH EGYPT...
VETO
THAT COULD CHANGE THE WORLD...
Palestinian
leader ignores US warnings on UN statehood...
Israel ups
West Bank forces...
Anti-Israel
subway signs in NYC spark religious war of words...
Geithner
warns EU of 'catastrophic risk'...
Europe
bristles at lecture...
US could be
on hook for bailout… [ Come on! Let’s get real here! Pervasively corrupt,
defacto bankrupt america can’t even bail itself out! ] ...
Eurozone
possible nightmare scenarios...
NEW 'WAVE OF
FORECLOSURES'...
BIG JUMP IN JOBLESS CLAIMS...
INFLATION
RISES...
SOLYNDRA
among 5 stimulus firms to go under...
Intimidation
/ Bullying: israel warns of 'harsh' consequences of Palestinian UN bid...
Wobama:
‘GIVE ME A WIN, GIVE ME A BREAK, LOVE ME!'
Cherokee
Indians say they can kick blacks out of tribe… [ This should go without saying;
after all, while blacks may be u.s. citizens, they’re certainly not Cherokees …
let’s get real here – let the u.s. government retroactively honor their many
treaty obligations / violations to the
native inhabitants of this land from whom such lands were stolen! ] ...
Geithner:
Economy In 'An Early Stage' Of Crisis...
'Hoping for
sometime' to get fired...
Dem Rep: Americans don't deserve to
keep all of their money...
MOODY'S
downgrades 2 French banks...
International
alarm over euro zone crisis grows...
Europe's
banks staring into abyss...
PLO:
Palestinian state to be Jew-free [ Sounds like a Plan … for peace, peace of
mind, and prosperity! ] ...
BILLIONS AND BILLIONS: GE to Buy
Back Shares From Buffett...
Rumsfeld
cancels NYT subscrip over Truthful Krugman piece...
100
protesters burn American flag outside U.S. embassy in London...
Israel
facing 'diplomatic tsunami' with Arab neighbors...
Crisis
threatens Mideast ties...
US pleas
ignored as mob attacked...
Warning of
'orderly default' on Greek debt...
KRUGMAN:
Bush, Giuliani 'fake heroes' who cashed in 'on horror'...
BUSH
[ Yeah! bush indeed knows all about this because he is evil and lacks courage!
]: 'One of the lessons of 9-11 is that evil is real, and so is courage'...
$447B JOBS
BILL: $421B FROM TAXPAYERS...
BILL SHIFTS INCOME CUTOFF DOWN TO
$200,000...
JUST $40B
COMES FROM OIL, GAS TAXES...
TAB FOR CORP
JET OWNERS: $3 BILLION...
Obama to
Tout Jobs Act at Donor's Company...
ITALY TURNS
TO CHINA FOR BAILOUT
Jordan
Abdullah: Israel situation more difficult than ever... [ Op-ed: israel doesn’t really want
peace http://www.ynetnews.com/articles/0,7340,L-4118832,00.html ]
Russia
supports Palestinian statehood...
U.S. BOOTS
ON THE GROUND IN LIBYA...
NOONAN:
We'll Never Get Over It...
NYPD
launches Its Own Navy, 1,000-Man Army, Tanks...
'Dirty Bomb'
Fears...
NBCNEWS
TWITTER account hacked, published fake terror alert...
Egyptian
protesters pull down Israel embassy wall … [ Congratulations! Well Done! ] ...
STOCKS
SLAMMED...
Obama jobs
package fails to lift spirits...
Global slide...
Berlusconi
says has 'no power' as Italy crisis bites...
Greek PM to
give speech amid hostility...
World Enters 'Dangerous New
Phase'...
'Collectively suffering a crisis of
confidence'...
FBI raids
Obama-backed solar company...
SOLYDRA reps
made 20 trips to WH before $500M award...
Fed court
tosses out 2 challenges to Obamacare...
Panel of 3
dem-appointed judges, including 2 appointed by Obama...
Afghan
journalist killed by US soldier...
ANOTHER $300
BILLION...
'It might
not create a single job'...
Makes
'whopper' claim about middle class tax cut...
CARNEY:
'I'm going to shuck and jive'...
TV stations
pick football over another Obama jobs speech… [ Indeed they should .. wobama’s
total b***s***! ] ...
ACLU to sue
over welfare drug testing… [ No constitutional issue here .. Reason? Welfare
isn’t a right! Moreover, such a law deters those who would fail such a test
from applying which therefore understates the prevalence of the abuse in these
difficult fiscal / economic / budgetary times
]...
California
Employment Level Sinks to Record Low ...
Iceland says
it was 'bullied' over bank debt...
46
People Shot In NYC Over Holiday Weekend...
Gunfire
erupts near Bloomberg in Brooklyn...
7 Killed in
Chicagoland...
40% of
Europeans 'suffer mental illness'...
Gunman
unloads inside IHOP...
9 shot, 3
killed...
2 dead were
National Guardsmen in uniform...
NO REAGAN,
NO CLINTON...
Another
all-time low...
US on wrong
track say 75% -- of Californians!
Redford
disappointed: 'I'm beginning to wonder just where the man stands' … [ I believe
Robert Redford would be a very good and potentially great President! (nothing
to do with his position on the environment) ] ...
Stocks Lose for Week as Recession
Fears Grow...
Roubini: We Are in 'Worse Situation'
Than '08...
More and
more Americans call long-stay motels home...
USA: $10
TRILLION IN DEBT…[ Far more than that is the reality ]...
Gov't
Battles Copper Thieves...
Miami Proposes
'Task Force' To Combat Thefts...
FAKE CITY
WORKER ARRESTED STEALING IRON GRATES...
Power lines
in Indiana stripped....
China state
paper urges Internet rethink to gag foes...
Obama Calls
for Extension of Gas Tax...
Hits
all-time low approval among women...
SUMMER BUMMER: Stocks Log Worst
August in 10 Years...
Solar
company touted by Obama closing -- despite $535 million from feds...
1,100 'green
jobs' gone...
POVERTY IN
PARADISE: Joblessness in some parts of Vegas exceeds 20%...
RANGE DAYS:
3D head-mount like 'sitting in theater'...
August
deadliest month for USA in Afghanistan… [ 66 u.s. soldiers killed ]...
FINAL
'FINAL' BATTLE IN LIBYA...
REBELS GIVE
GADDAFI UNTIL SATURDAY TO SURRENDER...
ISRAEL MOVES
SHIPS; IRAN MOVES SHIPS
Russia,
China wisely, rationally resist U.N. Syria sanctions push...
Ron Paul:
Mobs In Europe A Sign Of Things Coming (already here)...
Euro bailout
in doubt as 'hysteria' hits Germany... ‘German Chancellor Angela Merkel no longer has enough
coalition votes in the Bundestag to secure backing for Europe's revamped rescue
machinery, threatening a consitutional crisis in Germany and a fresh eruption
of the euro debt saga…’
GALLUP:
OBAMA DISAPPROVE HITS ALL-TIME HIGH...
NY economy
takes huge hit...
ALARM:
CHRISTIE SAYS DAMAGES IN BILLIONS, 'IF NOT IN TENS OF BILLIONS'...
Mental
illness rise linked to 'climate change'...
Teen girl
paralyzed, 10 others wounded at 'Drama Free' party... ‘A Queens party advertised on Facebook
and Twitter as "Drama Free" turned into a
shooting gallery early Saturday. Eleven young people were shot, including a teenage
girl left paralyzed, when a gunman opened fire into the crowd. About 100 people
were packed into the backyard of the single-family home on Inwood St. in South
Jamaica shortly before 1 a.m., when the shooter sneaked up a back alleyway
and opened fire into the yard through a chain link fence…’ Read more: http://www.nydailynews.com/news/ny_crime/2011/08/28/2011-08-28_11_shot_at_drama_free_qns_party.html#ixzz1WOiqvmx3
China jails
Tibetan monk for 11 years...
Gaddafi
'seen in Zimbabwe on Mugabe's private jet'...
BUFFETT BUYS BILLIONS IN BANK...
EARNS $280M
-- IN A DAY!
Obama called
Oracle of Omaha before big buy...
Buffett to
Host Fundraiser...
Fukushima
radiation leaks 'equal 168 Hiroshimas'...
New home
sales on pace for worst year in history...
NATIONAL
DEBT RISES BY $3 MILLION EACH MINUTE...
Obama sets
record: $4,247,000,000,000 debt in just 945 days...
STEVE JOBS:
iRESIGN
LETTER... [ More than just a ‘Silicon
Valley legend’, Steve Jobs literally saved Apple from extinction … I’m truly
glad he saved Apple, my first computer (1986 - apple IIc for word processing /
data based records / forms / templates / data which I interfaced with an
electric typewriter for letter quality) and for that all should be thankful.
Apple is the Nasdaq (40% weighting) and quite more, that now was! ]
YORK:
Spending, not entitlements, created huge deficit...
$500,000
federal stimulus grant created 1.72 jobs...
GE cutting more jobs...
FLASHBACK:
Moving X-ray business to china...
Strong East
Coast quake highly unusual...
DETAILS...
Felt from
Toronto to Atlanta...
Epicenter VA...
Felt In
Chicago...
Airports
Close...
CELLPHONES
OUT...
Nuke Plant
Shuts Down...
VIDEO:
Vacant White House Shakes...
VIDEO: Obama
Takes Quake Call on Links...
Stones fall off National
Cathedral...
WASHINGTON
MONUMENT 'TILTING'?...
HOMELAND
SECURITY'S QUAKE ADVICE: DON'T CALL...
5.8
MAG QUAKE ROCKS DC-NYC
SEE YOU IN
SEPTEMBER...
Buchanan:
The view from Martha's Vineyard... ‘As he and his daughters bicycle around the summer
playground of the Northeastern elite, Martha's Vineyard, President Obama is
steadily bleeding away both the support of the nation and that of his most
loyal constituency. Several times, his approval rating in Gallup's daily
tracking poll has sunk to 39 percent, with disapproval reaching 54 percent.
Support for his handling of the economy
has dipped to the mid-20s. Only 11 percent of Americans, says Gallup, are
satisfied with the way things are going. Unemployment
remains at 9 percent, as it has for two years. The Dow has lately lost 2,000
points, or $3 trillion in wealth wiped out. All that money the Fed pumped out
is now being reflected not only in the price of gold, silver and Swiss francs,
but in rising consumer prices – inflation. One in five U.S. children is living
in poverty…’
SANTORUM: 'maxine waters is vile' [
she’s worse than that, and a total embarassment for america and california
particularly! ] ...
Maxine
Waters: 'The tea party can go straight to hell'...
Tea Party
fires back...
MORGAN
FREEMAN TELLS OBAMA TO 'GET PISSED OFF' [ sounds like a plan … nigger to nigger
… the nigger plan! ] ...
Philadelphia
extends curfew after flash mobs [ new u.s. Christmas carol – ‘america’s
beginning to look a lot like sub-saharan africa, everywhere you go’ . They are
beasts of burden at most who are a burden to most at best … you’ll never change the nigger who evolved
only to a point! Think about all those ‘make-work’ jobs for niggers that serve
no real economic purpose; ie., federal, state, local, uspostal service, etc..
And, they can’t even do those jobs reliably, efficiently. Niggers are a drag on
civilized society! ] ...
Black congresswoman blames
black unemployment on 'racism' (riiiiight! The race card … how ‘bout reality)
...
'The real enemy is
the Tea Party'...
6 shot at youth
b'ball game (black violence in ‘the city that loves brothers’ – Philly)...
'REGIME
COMING TO END'
Unit
protecting Gadhafi surrenders...
Libyan
Rebels 'Capture Son'...
'End of
regime in 10 days'...
'1,300 dead'
in attack on Tripoli...
NATO racing
to wrap up...
UPDATES...
AL JAZEERA LIVE...
NEXT:
Syria warns against military intervention...
REVEALED:
Wall St Aristocracy Got $1.2 Trillion in Fed's SECRET Loans...
OBUMMER
SUMMER: DOW DOWN ANOTHER 400
JOBLESS
CLAIMS UP...
Inflation rising fast...
Treasury
Yields Fall to Record Lows...
What went
wrong with global recovery?
Police scramble
to fight flash-mob mayhem...
TROOPS IN
AFGHANISTAN 'UNTIL 2024'...
GM says
bankruptcy excuses it from repairs...
GOV'T MOTORS stock hits new low...
Dollar Sets
New Record Low Against Yen...
Putin Calls
USA 'Parasite'...
israeli raid
strains ties between Egypt and israel...
Ridley Scott
to direct new version of 'BLADE RUNNER'...
NASA REPORT:
Aliens may destroy humanity to protect other civilizations … [ Naah! Really
don’t have to .. confined to this solar system, by hand of God or man, we’re
only talking decades at most ] ...
APPROVE:
(now 39%) 42%
Return of
Mass Layoffs a Grim Sign...
MOODY'S Cuts
U.S. Growth Outlook...
WALMART
warns on US economy weakness...
BELOW 40%
WORST WEAK
Putin sets
sights on Eurasian economic union...
Gorbachev: I
should have abandoned Communist party earlier...
'MAGICAL
MISERY BUS TOUR'...
'Greyhound
One'...
Armored
Buses Cost $2.2 Million...
BLACK
CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama’s
b***s*** / excuses as the ‘White Caucus’ and any other Caucus – but, don’t be
taken in by their b***s***; they’ll ‘back the black’ every time,
regardless! ]
New
low of 26% approve of Obama on economy...
Inflation
builds...
FOOD PRICES
RISING...
UNEMPLOYMENT
UP...
OBAMA TO LAY
OUT JOBS PLAN -- AFTER VACATION...
'Takes More
Vacations Than Any Human Being I've Ever Seen'...
Commiserates
with jobless, then off to the Vineyard...
Roaming Pack
of Thugs Attacks 64-Year-Old Man, Steals His Bible [ Yes, you guessed it! The
thugs … they’re niggers! ] ...
Obama: I
Reversed Recession Until 'Bad Luck' Hit...
OBAMA'S
GREEN PET GOES BANKRUPT...
Got stimulus
cash, promised 800 jobs...
Kansas City
mulls curfew after racial attacks...
Mayor gets
shoved to ground when gunfire erupts...
VIDEO...
Flash mob robs DC-area 7-ELEVEN...
Boy Stabs
Girl At Philly Mayor ANTI-VIOLENCE Event...
Detroit
Police No Longer Responding To Automated Burglar Alarm Calls...
AP: Ron Paul
no longer 'fringe'...
'Shafted' by
media...
RON PAUL
WEEKEND WINNER IN AMES?
TEEN UNEMPLOYMENT HITS 50% IN DC
CONSUMER
CONFIDENCE CRASHES...
Lowest since
Jimmy Carter...
APPEALS
COURT: OBAMACARE UNCONSTITUTIONAL...
Dem Judge
Rules Against Obama's Signature Achievement...
'Unbounded
assertion of congressional authority'...
Emergency
Decree: Italy Approves Tough Austerity Measures... Developing...
RIOTS BREAK OUT AROUND GLOBE AMID
ECONOMIC ANXIETY
Dollar
Tumbles on Fed Pledge; Swiss Franc Soars Most Since 1971...
Merkel faces
revolt over eurozone deal...
Philadelphia
Implements Strict Curfew To Combat Violent Mobs...
MAYOR TO
BLACK YOUTH: 'You have damaged your own race'...
OBAMA
APPROVE HITS NEW LOWS...
'There is
something wrong with our politics'[ Yeah! You, among many others! All those
false campaign promises, etc.! ] ...
6 YEAR OLDS
CAUGHT WORKING ON FARMS...
Thirty-year
Treasury yields rise most since 1980s...
CHICAGOLAND:
State can no longer afford to bury dead poor...
Feds Called
In To Curb 'Wild West' Violence In E. St. Louis...
REPORTS:
Olympics ambassador is London rioter!
5
more US troops killed in Afghanistan...
SAVE THE
EURO: Sarkozy, Merkel in emergency meeting...
HYPERSONIC
PLANE LOST (What was the cost?) ...
REPORT:
ENTIRE US STEALTH FLEET GROUNDED...
OBAMA
CONSIDERS BECOMING NATIONAL LANDLORD...
Still going
on vaca...
Approval:
40%...
Highest
approval among Muslims...
WRONG TRACK:
73%...
Obama Marks
Ramadan with Iftar dinner...
BANK STOCKS
PLUNGE...
MOODY's
warns states, local govts...
Treasury
sells 10-year notes at record low rate...
SONY
'CLASSIFIED' BIN LADEN MOVIE;
WHITE HOUSE
REJECTS FAVORS CLAIM
UK locks
down as nights of unrest spread...
Manchester riots on scale not seen in 30 years...
Rioters rob
people on street, force them to strip naked...
DOW -634...
CURSED:
S&P falls 6.66%
IT TANKED AS
HE TALKED...
BARACKALYPSE NOW
CHINA: Dollar to Be 'Discarded' by
World...
Lectures How 'Good Old Days' of
Borrowing Have Ended...
NOW BUFFETT
DOWNGRADED!
Tel Aviv
stocks fall 7% after USA debt downgrade...
Nikkei drops
2%...
Wall St
braces...
European
leaders scramble to calm investors...
S&P: 1
in 3 chance USA will fall ANOTHER notch!
Recession
without shock absorbers...
Gold soars
above $1,700...
PRE-MARKETS...
DEVELOPING...
BLOODY
WEEKEND
USA
DOWNGRADED: FIRST CREDIT RATING CUT IN NATION'S HISTORY...
DETAILS
[.PDF FILE]...
DEMOCRATS
CALL FOR HIGHER TAXES...
CHINA: 'Good
old days' of borrowing are over...
LONDON BURNS...
...the
underclass lashes out
Violence
continues...
Rioting
spreads beyond capital...
DAY 3...
Riot Hits
London After Police Shooting...
...shops
looted
RAMPAGE...
Fears of
more...
DOWNGRADED!
DETAILS
[.PDF FILE]
FLASHBACK:
'No risk' USA will lose its top credit rating, says Treasury's Geithner … [
Well, we all know the powers of foresight possessed by ‘no-recession-helicopter
ben’ and tiny tim geithner ] ...
FOOD STAMPS:
Record 45.8 million dependent...
One in seven
Americans...
Postal
Service warns it could default…[ No surprise here .. the usps is totally
unreliable! ] ...
Post
Office proposes cutting 120,000 jobs, pulling out of healthcare plan …[ Let UPS
take over the usps! ]...
Controversy
over White House 'Hip-Hop BBQ'...
'Mob' beatings at WI state
fair...
'Hundreds of
young black people beating white people'... [ Typical n*****s! Good thing there are food stamps;
otherwise they’d be reverting to their inherent proclivity for canabalism (send
them back to africa … even give them a lump sum for an irrevocable repatriation
incentive … a huge cost-saving beyond the first year with substantial salutary
effects for the nation, the economy, and the remaining civilized non-blacks).
The other major crimes they do anyway. It’s their nature. You’ll never change
the nigger … they evolved only to ‘a point’ and no further. ]
Fairgoers 'pulled out of
cars'...
'They were
just going after white people'...
Heightened
security...
[ I refrained from using
the ‘n word’ (or even blacks / negroes) in referring to the culprits in the
following two incidents (those tender sensibilities) but I’m sure you’ve guessed
that they were niggers and I include same here in light of the foregoing
incident (and yes, the victims were white), which is typical. ‘.. while walking
through Military Park (a sliver of a “park” - more a pedestrian
thoroughfare/cement walks) in newark, new jersey on the way to the bank during
lunch hour, I heard the clearly audible screams/cries of what turned out to be
an old lady on the ground with blood streaming from her mouth. I ran toward the
sound of the cries, the source of which I could not see because there were so
many people in and about this thoroughfare so as to block any vision of the
source of the cries. When I came to the woman, on the ground, blood streaming
from her mouth, I asked what happened, to which she responded she had been hit
in the mouth and knocked to the ground, her purse stolen/put inside her
shopping bag, and she pointed out the criminal casually now walking across the
main street. Nobody stopped to help her, many having passed her by. I slammed
the thug to the ground so hard that, in light of all the blood and confusion
(limbic system / adrenalin flow) I thought I had been stabbed (the blood was
from his elbows hitting the pavement so hard - no one helped / a crowd gathered
/ an undercover cop happened along). When I testified at the Grand Jury
Proceeding I made sure his threat on my life was set forth in prima facie
fashion so as to maximize the DA’s position with both felonies ( he went to
prison – pled out ). The other case I wrote about here ( This was included on my
website in the Psychology forum discussion of ‘bystander effect’ / diffusion of
responsibility. ) - Having had occasion to have run down a mugger in newark,
n.j. who apparently had followed a girl from the bank on her way to the bursar
to pay tuition, though in pretty good shape, I was astounded by how totally
exhausting such a pursuit was, how much like rubber my arms were when I traded
punches with the perpetrator, and truth be told, if I had a flashlight on my
belt, I have little doubt that I would have probably used it to subdue the perp
(a police officer here in California was the object of intense criticism for
having used a flashlight to subdue a criminal
/ nigger after a long chase so I included that here) . The girl was not
that seriously injured, did get her pocketbook and tuition back, and the
criminal / nigger went to jail (where they belong). The other thing about such
a pursuit that amazed me was that no one else assisted the girl or me despite
being in a position to do so. I was also mugged by 4 niggers and 2 hispanics in
an incident here in Los Angeles, CA. But, to be fair and balanced, the RICO
litigation involves those uncivilized who consider themselves ‘whites’ http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
(predominantly but not exclusively jews / romans-italians / mobsters /
government slugs). ]
DOW PLUMMETS 512...
OBAMA HAS
BBQ COOKOUT...
GAINS FOR
YEAR GONE...
'CORRECTION'...
PANIC RIPS
THROUGH GLOBAL MARKETS...
Intervention
fails to quell nerves...
'NOT SINCE
JIMMY CARTER'...
Military
money on chopping block...
Grim economic
news clouds Obama 50th...
Two-year
Treasury yield drops to record low...
RACE TO
CASH: Bank imposes fee on rapidly growing deposits...
DEM RUNS
FROM OBAMA...
Leaders
Issue Warning on Joblessness...
Woman dies
from heat after AC stolen...
San Fran
tourist mugged of money, clump of hair...
RENTER
STEALS AC, SELLS FOR GAS MONEY...
HUMAN HAIR
TRADE SURGES...
Bronze Dog
Statue Stolen From Humane Society...
Thieves
steal school's bleachers!
Mom Arrested
For Robbing Girl At Gunpoint -- For Bike...
10-Year-Old
Boys Held Up For Sneakers At Summer Camp...
MOODY'S:
'NEGATIVE'
Massive rout
spells trouble for Wall St...
Europe on Brink of 'Major Financial
Collapse'...
DOW PULLS
OFF A WIN! [ Based as usual on b***s*** alone! ]
Scary Chart Pattern Suggests More
Selling on Way...
Economy
struggles to find footing...
Obama,
Bernanke out of ammo to boost jobs, growth...
Gold at
$2,000 by year-end...
MORNING AFTER: BORROWING TOPS 100% OF GDP
European
leaders feel the strain...
Berlusconi
fails to stem rising panic...
'The coming
crises of governments'...
Silent bank
run hits Greece...
...exodus
Italy under
fire...
Pain in
Spain...
Woes Get
Messier...
DEBT DEAL BACKLASH:
LIMBAUGH: A
Total Waste of Time and Effort...
SAVAGE:
America has been 'hoodwinked'...
DAILY SHOW:
Where are the Tax INCREASES?
FT: Obama's
image takes beating...
Ron Paul
Sounds Alarm on 'Disturbing' Super Congress...
DER SPIEGEL:
'Civil War Atmosphere' in Washington...
Dollar falls
to all-time low against Swiss franc...
PUTIN: USA 'parasite' on global economy... [Unfortunately, this is very true. More unfortunately is the fact that most worldwide don’t realize that fact! I mean, think about it: pervasively corrupt, defacto bankrupt america’s cancerous perma wars, over-printed debased ‘Weimar’ paper ‘reserve’ currency, huge frauds in securities and otherwise, etc.. ]
House
approves debt deal -- day before deadline!
Borrowing to
surge after cap raised...
May not save
AAA rating...
BIDEN
[‘Lobotomy Joe’]CALLS TEA PARTY 'TERRORISTS'[ Riiiiight, ‘Lobotomy
Joe’; anything you say joe, now calm down… ]
Manufacturing
drops to lowest level in two years...
'Double Dip
Here'...
RI Town
Files for Bankruptcy...
Dog
Airlifted Out of National Forest After Growing Too Tired to Finish Hike...
[ Just another dog day afternoon in pervasively corrupt, defacto bankrupt
america. ]
SURVEY:
Internet Explorer users have lower IQs...
Obama
Threatens Another Veto...
Just hours
after urging compromise...
Carney
Admits Obama Has No Plan...
BALL IN YOUR COURT, HARRY[, aka Mr. Milktoast, aka Majority Leader of Harry’s Wh*r* House]!
SWEAT
CEILING: House approves debt bill...
NO! 22
REPUBLICANS BUCKED BOEHNER...
DC racing
against clock...
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40%
APPROVAL...
Obama takes
debt battle to TWITTER, loses more than 33,000 followers...
NYT reporter
advises WH staff?
Illegal
Aliens Head South to Mexico in Search of 'American Dream'...
4.9% unemployment
in Mexico vs. 9.4% in US...
Black Middle
Class Eroding As Unemployment Rate Soars...
CHAOS...
CLOCK
TICKING... NO PANIC...
THE VOTE:
'TEA PARTY' IN CHARGE!
Boehner
Delays Vote on Debt...
Limbaugh:
We've Been Played...
GALLUP:
Obama Rates Higher Than Boehner, Reid on Debt Situation!
Ron Paul:
'Default Is Coming'...
Treasury
Contingency Plan on Debt Gives Priority to Bondholders...
Carney: If We Have No Other
Alternative We Will 'Take Action'...
Obama faces
legal bind if time runs out...
PELOSI:
'We're Trying to Save Life on Planet as We Know it'… [ Riiiiight! Keep feeding
those perma wars despite bankruptcy of this nation … Is life as she knows it on
this planet really death? … Why does ‘doo,doo,doo,doo’ to the tune of Twilight
Zone Theme come to mind when hearing her total b***s***?…Oh, riiiiight! She’s
caught wobamanoid fever ] ...
6 days from
'default', both sides scrambling...
FURY OVER
STALEMATE BOILS OVER...
House
Dem leader urges Obama to raise debt ceiling without
Congressional approval...
SHOCK POLL:
46% Think Most in Congress Corrupt...
WASHPOST/ABC:
Blacks, liberals flee in droves...
SANDERS:
Obama should face primary challenger...
The Immelt
Way: WH Advisor on Jobs Moving GE X-Ray Business to China...
OBAMA
SECRETLY SIGNALS BANKS: 'NO DEFAULT'...
WH to
FOXNEWS: 'Tell your viewers there's nothing to worry about'...
BORGER:
'Nobody today is talking about tax increases -- except Barack Obama'...
TWT:
Liberals hijacking Reagan to raise taxes...
PANIC: WH'S
PFEIFFER SAYS DEFAULT COULD LEAD TO 'DEPRESSION'...
CA seeks
bridge loan to pay bills...
Guv OKs
financial aid for illegal aliens...
Brazilian
currency at highest level since '99...
USA Can
Avoid Default 'at Least Until September'...
Obama still
pushing for tax hikes...
Endorses New
Plan with 'Sham' Savings...
'Cuts'
include money not spent in Afghanistan over next 10 years...
BOEHNER:
Plan 'full of gimmicks'...
'DOING
THINGS ON MY OWN VERY TEMPTING' [Why would anyone believe or follow
anything ‘wobama the b’ (for b***s***) says when his actions belying his words
have led to this disaster? Hasn’t he ‘done things on his own’ and contrary to
campaign promises leading to this debacle? Indeed, he cannot be trusted! ]
Widest
wealth gap between whites, minorities on record … [and they’re thanking ‘wobama
the b’ (for b***s***)] ...
DEPENDANT
STATES OF AMERICA: Geithner Warns: 'We Write 80 Million Checks a Month'...
BOEHNER
TO OBAMA: 'CONGRESS WRITES THE LAWS, YOU DECIDE WHAT YOU WANT TO SIGN'...
...President
'worried about his next election'
...Putin
considering Kremlin return
Pelosi
splits, heads to fundraiser...
CNN: OBAMA
LOSING LIBERALS...
Farm thieves
target grapes, avocados -- even bees...
Thieves
target ambulances...
Thieves
Steal 100 Storm Drain Covers In Sacramento...
RASMUSSEN
SHOCK POLL: Obama 41% Ron Paul 37%...
DEBT DEAL
DEAD...
BOEHNER
WALKS...
Terrorism
shatters peace in home of Nobel prize...
NYT:
'Helpers of Global Jihad' claim...
Fake cop
opens fire at youth camp...
'Tall,
blond, of Nordic looks'...
REUTERS
UPDATE...
BBC LIVE...
Obama,
Boehner discuss new debt plan... Developing...
PRESSURE:
S&P renews warning...
SCORCH: HIGH
TEMPS TO LAST WEEKS...
Now covers 1
million sq miles...
NEW YORKERS
WARNED TO EXPECT ROLLING OUTAGES...
Rolling
Blackouts Begin In Detroit...
Fears mount
about 'Big Brother' database in Massachusetts...
Florida made $63M selling
names, addresses, dates of birth...
Latin
America Lectures US over Debt Crisis...
US talks get
'messy'...
Obama now
open to short-term deal...
Euro
meltdown: Sarkozy jets into Berlin for crisis talks with Merkel...
24 HOURS TO
'SAVE GREECE'...
Ron Paul:
'We Will Default, Debt Is Unsustainable'...
DEAL: SENATE
HUDDLES TO HIKE TAXES...
Obama
praises...
RESTATES
THREAT TO VETO SPENDING CUTS...
LIBS EYE
DEEP CUTS TO NATIONAL DEFENSE...
Cash-Strapped Connecticut Fire Sale, To Axe 365-Year-Old Ferry, Nation's Oldest...
OBAMA MAKES JOKE; NO ONE LAUGHS...
Gold Has
Longest Run of Gains Since 1980...
Gas prices
on the rise; top $4 in eight states...
Cash-Strapped SF To Shutter
Courtrooms; Lay Off 200 Court Workers (and yet another feinstein? From direct
experience with the superior courts of california, no loss here, and
eliminating them entirely not a bad idea in light of their costly corruption as
in the federal system! )...
DEM FLASHES
RACE CARD IN DEBT DEBATE...[ Oh come on! This jive-talking, failed
‘president’ has been indulged in every way imaginable and possible (all those
false campaign promises that got him elected, etc.). He may not have been the
first (clinton has been said even by blacks to have been the first ‘black
president’), but he most assuredly is the last black president, fitting every
negative stereotype imaginable including racist hypocrisy. UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
'Only THIS
president has received the kind attacks and disagreements'...
BOEHNER: HE
HAS NO
PLAN...
[ It’s true; ‘wobama the b’ (for b***s***) has no plan whatsoever. Ask Mr.
Teleprompter. ]
KRAUTHAMMER:
CALL THE BLUFF!
Feds Issue
Warning After 4 Mailboxes Lifted From Post Offices...
O'DRAMA...
'ENOUGH IS
ENOUGH'...
WALKS OUT OF
WHITE HOUSE MEETING...
'DON'T CALL
MY BLUFF'...
REID CALLS
CANTOR NAMES...
CAMP DAVID
SUMMIT?
BOEHNER: NO
NEED...
MCCONNELL:
GOP won't be 'tax collectors for Obama economy'...
Hometown
congressman tells Obama to 'quit lying'...
PELOSI:
'Almost too busy' to continue debt talks...
GEITHNER:
Out of time...
Cash-Strapped
NYC Fines Man $2,000 -- For Not Watering Beehive?
STUDY: Black
men survive longer in prison than out...
Man falls into Maui blow
hole, disappears...
PRESSURE:
MOODY'S PUTS USA ON DOWNGRADE WATCH
Boehner
Rails on Obama: 'Like dealing with Jell-O'...
WH Cracks
Down on Press: No Yelling at Obama Today...
President
'chafes' at unscripted questions...
BERNANKE
BARKS BACK AT PAUL...
Fed May Launch New Round of
Stimulus...
DOLLAR
TUMBLES...
Putin calls
Feds 'hooligans'...
Gold hits
new high...
DEBT TALKS
BREAK DOWN...
McConnell:
Deal Not Possible With Obama … [ I think this shoe fits wobama ...
African-American unemployment at 16% ... (But there’s rationality in this stat
as people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then
there’s the attitude. I truly believe from direct experience that even when
their outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed.) ] ...
'Backup
plan'...
OBAMA
THREATENS TO HOLD UP SOCIAL SECURITY CHECKS
RUBIO: Every
Aspect of Life in America is Worse Since Obama Took Over...
GE Immelt
lectures biz owners: 'Stop complaining about government'...
FLASHBACK:
(GE )Company Paid NO TAXES Last Year...
OBAMA: LET'S
STAY IN IRAQ...
FLASHBACK:
'I intend to remove all U.S. troops from Iraq by the end of 2011'...
KARZAI'S
BROTHER ASSASSINATED IN KANDAHAR...
Gunned down
in home by bodyguard...
'Huge boost
for Taliban'...
Obama 'far
apart' from Republicans on debt deal...
Boehner:
Debt Deal Not Imminent...
TORMENT @
9.2%
State and
local governments bleeding jobs...
Top Obama
adviser says unemployment won't be key in '12 … (riiiiight!…talk about wishful
thinking and self-delusion)...
BUCHANAN: DC
Establishment 'in Panic'...
S&P
WARNS GREECE OF DEFAULT -- EVEN WITH BAILOUT!
'Impossible
knot'...
SANTELLI: 'The answer is
easy: Spend less!'
Italy's
borrowing costs soar...
Berlusconi
appeals for national unity and 'sacrifices'...
New Fears on
Italy Jolt Europe...
Soros:
Europeans now need 'plan B'...
Mob Of
Teenage Girls Attacks Minneapolis Mom, 4-Year-Old Daughter...
Air
Conditioner Thieves Hit 7 Churches In Texas...
THEY'RE
HERE! [ Uh! That ‘nausea’ factor; though not nearly of the magnitude
of america’s unctuous duo, ‘wobama the b’ (for b***s***) and michelle his belle
(see infra). After all, the cloyingly cutesy couple from across the pond is
hardly in a position to do damage as are the wobamas. Yet, one must ask: just
what exactly are they? Mascots? Non-emmissary emissaries? Indeed, in this
economy it’s quite embarrassing for members of the so-called commonwealth,
struggling economically and otherwise, england/uk being no exception (royals
wealth’ is ultimately the product of common expense) to be celebrating
celebrity for the sake of nothing more than celebrity. Worse is the pathetic
display here in the defacto bankrupt disunited states (uk not much better and
in many ways worse) relative to their former colonial masters. Then there was that
ostentatious marriage display so well publicized even as the uk’s (eu, u.s. et
als) ‘rank and file’ are sacrificing and the respective nation states
crumbling. Even so-called celebrities here shun such meaningless displays of
themselves and at least serve a cinematic (art form) purpose. Truth be told, I
bear them no ill will; but, I bear them no good will either. After all, quite
simply, they are but a meaningless, extravagantly costly welfare couple that
are simply irrelevant. How pathetic and embarrassing for their fans, followers,
onlookers and their liege. And, though I’m biased (I think Grace Kelly to have
been the most exquisite of creatures to have graced this earth – Alfred
Hitchcock with an eye for such things thought so too and said as much), clearly
Prince Albert of Monaco and his bride’s wedding was tastefully and not
cloyingly about right. Now that’s real royalty via Grace Kelly; with a purpose;
the management / leadership of a prime travel / gambling / entertainment /
resort destination; viz., Monaco. ]
BOEHNER:
Taxes 'off table'...
Debt
Talks Turn to Social Security Cuts...
CHARGE:
Bypassing Congress to raise debt would be 'impeachable'...
LONDON
BRIDGES FALLING DOWN:
Coulson
'to be arrested tomorrow'...
Gov't
decision on SKY takeover 'delayed'...
UPDATE:
China warns U.S. officials not to meet Dalai Lama...
CHICAGOLAND:
THIEVES STEAL ENTIRE A/C UNITS FROM HOUSES
UPDATE: Teen
Dead After Beach Brawl...
Wisc beating
victim: 'They just said "Oh, white girl bleeds a lot"'...
US Lawmakers
Accuse DOJ of Cover-up in Botched Gun-Running Op...
CA
Prison Shrink Paid $838,706 Last Year...
CA companies
flee state...
No recession
for 454 White House aides: They'll make $37,121,463 this year...
United
States of 'gloom'...
Iran
Ridicules: America is Not Independent...
SHOCK:
Father with HIV raped 6-month-old son...
MEDIA BLOWS IT, AGAIN...
NANCY GRACE
LEFT SPUTTERING: 'SOMEWHERE OUT THERE, THE DEVIL IS DANCING TONIGHT'...
Attorney:
Case Was 'Media Assassination'...
'Now you
have learned a lesson'...
CBS host
breaks down...
'TOT MOM'
CLEARED BY COURT...
JURY: NO MURDER!
Only guilty of lying to
cops...
Portugal's
Debt Downgraded to Junk...
CHINA: USA
'ALREADY DEFAULTING'...
DOLLAR TO
'LOSE RESERVE STATUS'
Economy Expected to Have Major Slide
in Months Ahead...
NEW IMF
CHIEF FROM CHICAGOLAND...
MARK
HALPERIN CALLS OBAMA 'A DICK' ON LIVE TV...
POLL: Obama
42%, any Republican
46%...
Campaign
signals fundraising fail...
UPDATE:
Minnesota Government Shuts Down...
Washington
state closes tourism office...
Florida
state workers get pink slips, more cuts ahead...
FEDS STRIKE DOWN STATE'S BAN ON RACE CONSIDERATION IN COLLEGE ADMISSIONS...
SoCal Looks
to Secede from California...
REPORT: U.S.
Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement
Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
GETTING
NERVOUS
NEWT: Obama
'most successful food stamp president in American history'...
Palin:
Hollywood stars as 'full of hate'... ["What would make someone be so full of
hate?" palin asks … answer: resistance to someone as dumb and full of
war-mongering hate as she is! ]
REPORT: NATO
forces ARE trying to
assassinate Qaddafi...
Los
Alamos under siege from wildfire...
'Throwing
absolutely everything at this that we got'...
BLAGO LIKELY
HEADED TO PRISON...
'What
happened?'
But he gets
to keep his hair...
Fitz finally
wins one!
GUILTY IN
CHICAGOLAND...
17 of 20
counts...
Tried To
Sell Obama's senate seat...
Jury
DEADLOCKED on Rahm shakedown...
Blago to
lawyer: 'What happened?'
'Stunned'...
JOBLESS WEAK: 429,000...
...disappointed
Economic
trouble puzzles Fed chief...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
THE NEW 'NORMAL'
GALLUP PLUNGE...
Approval -4,
disapproval +5 -- in one day!
DOWN TO THIRD: USA 'TO FALL BEHIND
INDIA' IN TRADE...
DEM FIX:
MORE SPENDING!
Bernanke
speaks, stocks sink...
FORBES:
'Admits he's clueless'...
CBO:
Long-Term Debt Picture Worsens...
Would reach
101% of GDP by 2021...
STUDY: State, local gov'ts must
raise taxes $1,400 a year for 30 years to fund pensions...
Millionaires
shrug off downturn; Wealthy richer than before crisis...
Zuckerman:
'We now have more idle men, women than at any time since Great Depression'...
SHOCK POLL:
ONLY 3 in 10 WILL VOTE FOR OBAMA...
66% say US
headed in 'wrong direction'...
Greece Agrees on New Austerity Plan
With EU, IMF...
ANGER IN
ATHENS...
'BLACK
HOLE'...
DEBT TALKS BREAKDOWN; TAX BUST
S&P:
Risk of U.S. credit rating downgrade increased...
Chicago
county faces $108 billion gap in pensions....
Greek Streets 'Explosive'...
PM wins confidence vote 'but outlook
remains dire'...
Huntsman
announces presidential bid at Statue of Liberty...
Harry Reid
endorses...
Bachmann
surges to primary lead...
Iraq hunting
$17 billion missing after U.S. invasion...
NATO NIGHTMARE:
9 CIVILIANS KILLED [NATO strike kills 15 Libyan civilians]
Census:
Whites lose majority among babies...
German Giant Says US Workers Lack
Skills...
PAPER:
AMERICA'S LOST DECADE?
States look
to Internet taxes to close budget gaps...
SPANIARDS ON
MARCH OVER BLEAK PROSPECTS...
House
will move this week to limit funding for effort in Libya...
'DON'T BE
SURPRISED IF ATHENS GOES UP IN FLAMES'...
GREEK PM
PLEADS FOR UNITY!
...warns
against default
Threat to
downgrade Italian debt raises contagion fears...
Princess
Diana Conspiracy Movie Headed to Theaters... [ Uh, oh! Time to gear
up the already harsh ‘censors’ in england.
]
Bachmann:
Obama 'has failed' blacks, Hispanics... [ Come on! ‘Wobama the b’
(for b***s*** has failed everyone. ]
Presidential
no-show miffs Hispanics...
African-American
unemployment at 16%... [ But there’s rationality in this stat as
people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then there’s
the attitude. I truly believe from direct experience that even when their
outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed. ]
SHE'S OFF!
(on the road again) Michelle Obama embarks on Africa visit … (stay there!) ...
Michelle
Obama Admits: 'Fortunately, We Have Help From The Media'...
CHICAGOLAND:
Rahm's Top Cop Blames Gangs, Crime on 'Gov't-Sponsored Racism'...
Likens
federal gun laws to 'racism'...
Teen Mob Of
50 Hits Chicago WALGREENS...
Teen brutally beaten by mob
of blacks; cops mull 'lynching'
charge...
Princess
Diana Conspiracy Movie Headed to Theaters... [ British
queen arrives in Ireland Queen Elizabeth II’s visit overshadowed by
security scares. (
Drudgereport: Protesters burn American flag during
Obama visit to Puerto Rico -- a U.S. territory... [ I find even his retirement costs
objectionable. Obama: My
family is ‘fine’ with one term Politico
| President Barack Obama says his family is “not invested” in a second term.
The unctuous pandering by the wobamas is nauseating. And, michele’s
fundraisers? What’s up with that? Wobama’s such a glomming golem / slug. Obama
says if he were Weiner, he’d resign
President Obama on Monday waded into the debate over whether embattled
Rep. Anthony Weiner should step down, saying, “If it was me, I would resign..Barack Obama: The
Naked Emperor Shocking but true revelations from David Icke| ..Obama is
just more of the same, a big smile with strings attached, and controlled
completely by those that chose him, trained him, sold him and provided his
record funding, kept his many skeletons under wraps, like the gay sex and crack
cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to
be with your Presidential camp, who is alleged to claim that someone claiming
to represent me called asking for $100,000, to keep me from coming forward
about our (Obama and I) November 1999 encounter of sex and cocaine use?), ...
Obama is just another Banksters' moll prostituting himself .., and that's why
he supported the grotesque bail-out of the banking system and why he will
always put their interests before the people. ] http://albertpeia.com/obamadeceptionhighqualityversion.flv
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Todays
News / Topics Page By Day 8-12-11 to
12-30-11 http://albertpeia.com/todaysnewstopicspagebyday81211-123011.htm
AAII
Sentiment Survey: Investors Remain Averse to Stocks Wall St. Cheat Sheet
Not all insider buying
is created equal — Reformed Broker
Is there enough money to
save the world’s banks? — Jonathan Weil at Bloomberg
Warren Buffett is
issuing bonds and buying stocks — Fortune
US births declined in
2010 — Calculated Risk
Efficient markets in
action — Paul Krugman
Consumers now need
Treasury approval on all purchases over $50 — The Onion
Report:
Mutual Fund Outflows In July Most Since End Of 2008 at Barrons.com
THE STOCK ROLLER COASTER GOES UP: Here's What You Need To Know Business Insider Gus Lubin, August 11, 2011, ‘Another explosive movement for stocks, this time upward. But first, the scoreboard: Dow: +423 NASDAQ: +112 S&P: +52 [Note: This Closing Bell was delayed due to technical difficulties.] And now, the top stories:
Analysis
of Financial Terrorism in America David
DeGraw | The Economic Elite are overreaching and their empire
is collapsing.
Dollar
at lowest against Swiss Franc in 40 years Bloomberg | Federal Reserve pledged to keep its key
interest rate at a record low at least through mid-2013.
Futures fall after
snap-back rally Reuters | U.S. stock index futures
fell on Wednesday after a sharp snap-back rally in the last session.
NYT
Reports Eurowide Short Selling Ban Imminent Zero Hedge| Proving once again
the nobody ever learns from the past.
Most
Americans can’t afford a $1,000 emergency expense CNN | When the unexpected
strikes, most Americans aren’t prepared to pay for it.
Yuan
Climbs to 17-Year High Against the Dollar Fion Li | The yuan strengthened
beyond 6.4 per dollar for the first time in 17 years.
The Stock Market
Crash Of 2011? The Economic Collapse | How far does the stock market have
to go down before we officially call it a crash?
Global
markets plunge again on debt fears The Dow falls 520 points, and on Asian
and European markets, trepidation about the health of Europe’s financial firms
overtook concerns about the slow pace of the U.S. economic recovery. (Washington Post) [ Debt fears? Is that all?
If it was only debt fears things could at least be slightly less than
hopelessly dismal. Far more is worthy of substantial concern and quite simply,
those paper (stock) markets worldwide are overinflated, overloved, and
substantially overvalued. The now ubiquitous ‘Weimar’ strategies of late of
predominantly pervasively corrupt, defacto bankrupt american origin haved been
embraced and adopted globally to the substantial detriment of all but the few
frauds, the spun beneificiaries of such failed, fraudulent folley. The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed! This is still a great opportunity to sell
/ take profits since there’s much, much worse to come! Why
You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The
market is building momentum to the downside’.
Tuesday, Aug.9,2011: what
changed from yesterday which warranted a more than 600 point plunge with paper
stocks still over-valued and a 545 bounce off of afternoon lows? Nothing!
Absolutely nothing, yet a manipulated computer-programmed churn-and-earn
suckers’ rally based on fraud and b***s*** alone to keep suckers suckered,
which makes for an especially great opportunity to sell / take profits since there’s
much, much worse to come! Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com) ‘Robert Wiedemer’s new book,
“Aftershock: Protect Yourself and Profit in the Next Global Financial
Meltdown,” quickly is becoming the survival guide for the 21st century. And
Newsmax’s eye-opening Aftershock Survival Summit video, with exclusive
interviews and prophetic predictions, already has affected millions around the
world — but not without ruffling a few feathers. [ The instant video on the economic / financial collapse
from Stansberry and Associates is so well researched and succinctly presented that I’ve archived same on my website;
also, because the facts and views presented comport with the facts and views
I’ve presented on my site which I believe to be correct. This is a must-view,
must-see that I strongly recommend!
The complete url:
http://www.albertpeia.com/stansberrysinvestmentadvisory.flv ( 146mb – approx. 1
hr. 17 min. ) http://www.albertpeia.com/stansberrysinvestmentadvisory.mp4 ( 374mb
) Written text of presentation
(without pictures / charts)] [A lot of pre-election year obfuscation,
manipulation but the debacle is already here:
Harry
Dent, Jr. Economy will be in a Depression by 2011
Dow will Fall to 3,800 –
4,500 by 2012
Nasdaq will Fall Below
1,100, its 2002 low, by late 2010 or mid-2012 at the latest.
U.S. Dollar will Decline
Housing will Decline by 40
– 60% from Today’s Levels
Greatest Economic and
Banking Crisis since the 1930s will Occur Between 2010 and 2012). Dow
1000? Robert Prechter Thinks So Prechter
Reiterrates Call For Dow 1,000, Even As Surging Gold And Plunging Dollar Leave
Much Credibility To Be Desired Bulls Go to Extremes: Don't Buy the "Breakout",
Sell It, Prechter Says Russell:
This Is One Of The Largest Tops In Stock Market History My old friend, Bob Prechter, is talking about Dow 400. I
used to think this was an absurd joke. I no longer think it’s a joke. The
ultimate result will be a primary bear market shocking in duration and extent. …’ Forecasts from Dent, Napier, and then
Prechter: Depression is Imminent The Dow Jones
Industrial Average will go down to at least 1000, most likely to below 777
which was the starting point of its mania back in August 1982, and quite likely
drop below 400 at one or more times during the bear market.
Is
debt downgrade an alarm bell for U.S.? (Washington Post) [ Do bears s*** in the
woods? Is the Pope Catholic? Is this question some kind of a joke? I mean, duh!
Ya think? I mean, if it isn’t, what could be? After all, this was long in the
making and the pressures applied to preclude this long overdue downgrade were
substantial. Yet, this mild slap on the wrist was at once, charitable and a
gift inasmuch as reality warrants far worse.
8 More Reasons Why You Should Be Deeply Concerned That
The U.S. Government Has Lost Its AAA Credit Rating The Economic
Collapse ‘… #8
The U.S. national debt continues to get worse by the day. Just check out
what economics
professor Laurence J. Kotlikoff recently told NPR….“If you add up all the promises that have been made
for spending obligations, including defense expenditures, and you subtract all
the taxes that we expect to collect, the difference is $211 trillion. That’s
the fiscal gap” ..’
Previous: Is this some parallel universe where
unfounded criticism is levied at S&P for the downgrade when they’ve
actually cut the pervasively corrupt, defacto bankrupt disunited states a break
by not rating what america truly is; viz., junk status for the paper /
liabilities / obligations that cannot and will not be paid (or the equivalent
vis-à-vis what would be in worse than evermore worthless Weimar dollars or some
other ‘ponzi-like’ subterfuge, obfuscation). The amounts are insurmountable
going forward. They point to Moody’s and Fitch; yet, let’s not kid ourselves,
S&P is the ‘800 pound gorilla’ in this world among rating agencies and
moody’s, fitch have substantially diminished themselves as entities consistent
with their ‘mission and purpose’ and as well, their credibility. I mean, come
on! Consider the pressure that was and continues to be applied. Moody’s and
fitch, quite frankly, folded. China’s rating agency has already downgraded u.s.
paper and they’re ‘holding’ (huge amounts of that u.s. junk); and hence,
against their own interest. Wake up!
National / World
NATO
Massacres of Civilians Aimed at “Cleansing” the Libyan People’s Resistance Mahdi Darius Nazemroaya |
Photographic evidence of NATO war crimes.
NATO
urged to investigate civilian deaths during Libya air strikes Amnesty International | Amnesty
International wrote to the NATO Secretary General asking for clarification on
incidents in which unarmed civilians were reportedly killed.
Pentagon
Caught Lying: SEAL Team 6 Wasn’t On a Rescue Mission Federal Jack | CNN piece exposes
another lie in the official story about SEAL Team 6′s demise.
A
National Debt Of $14 Trillion? Try $211 Trillion NPR | $14 trillion is just the tip of
the iceberg.
Legendary
Investor Jeremy Grantham: America is a Banana Republic Washington’s Blog | Just different
bananas perhaps? [ Of course this is absolutely true! And not just from the
meaningfully lawless perspective – I had made such a statement on the record in
a LA Superior Court Appellate Dept. proceeding in which said court literally
ignored the law (the same is true of the costly, plushly accoutered lifetime
appointee federal courts) which courts should indeed be abolished in these
difficult economic / budgetary times. Additionally, from pervasive corruption,
to debased over-printed currency, to gunboat diplomacy, to total incompetence,
etc., america is indeed a banana republic at most.
Gallup:
Disapproval of Obama Ties All-Time High CNS News | American’s approval of President tied its
all-time low of 42 percent.
Democrats
want a bolder Obama The president’s allies are getting nervous about what
they see as the lack of a coherent strategy. (Washington Post) [ Well, tell it
to the teleprompter. Without a head per se, at least no one could say as with
‘wobama the b’ (for b***s***) that the teleprompter was in over its head.
Bolder b***s*** is still b***s***! ]
Gallup:
Disapproval of Obama Ties All-Time High CNS News | American’s approval of President tied its
all-time low of 42 percent.
Taliban
who downed U.S. copter killed U.S. officials say Taliban fighters who shot
down a helicopter with 30 U.S. troops were killed in airstrikes (Washington
Post) [ Oh come on! The Taliban don’t even know who among them downed the u.s.
killer copter! Great propaganda, ‘u.s. gi’s always get their man’. Doesn’t
anyone get tired of their endless b***s*** in their end run to the end? After
all, the nation is defacto bankrupt in large part as a direct consequence of
these ‘military-industrio-inferiority-complex’ follies / welfare warfare
programs. Then there’s the cocomitant typical skullduggery which includes inter
alia:
Same
ritual, a changed president This time, President Obama traveled to Dover
Air Force Base to greet the remains of Americans he had ordered to Afghanistan
himself. Some
victims of crash are identified (Washington Post) [ Changed? I think we could
all agree that despite campaign promises to the contrary, nothing’s changed;
except, pervasively corrupt defacto bankrupt america is more hopelessly
bankrupt and the dismal economic picture has become more dour.
FLASHBACK:
Eyewitness to OBL Raid Saw Helicopter Explode (TRANSCRIPT) [ As
indicated on this albertpeia.com website, I didn’t buy the administration’s
desperate and politically opportunist Osama event and still don’t buy it; and
further, I believe this! ]Veterans
Today | TRANSCRIPT of critical interview with Pakistani
eyewitness to Bin Laden raid. Is this the key to SEAL Team 6′s demise?
“Bin Laden”
Heroes Probably Murderered to Keep Them Quiet Gordon Duff
Veterans
Today August 7, 2011 | Some Possibly Killed in Abbottabad Helicopter
Crash Months Before. [ As indicated on this albertpeia.com website, I didn’t
buy the administration’s desperate and politically opportunist Osama event and
still don’t buy it; and further, I believe this! ] Today 31 NATO troops, 20 of
them Navy Seals from the Osama bin Laden operation died in what is reported as
a helicopter crash in Afghanistan.
‘The chance of this
story being true is almost nil. The chances of this being a staged coverup is
over 80%. We believe these people were murdered to silence them. This is why.
We have solid
information on two areas:
This gave the US several
areas of severe vulnerability. Generally, Navy Seals are the best people in the
world at keeping their mouths shut, these are real team players, as the term
“Seal Team” belies.
Petraeus is a possible
presidential contender and had to be denied this “gift from heaven,” a fast
track to the oval office for sure.
Again, I remind you, I
went over specific meetings on bin Laden with his handlers, getting every last
detail. I have watched what has gone on, the continuing need to vilify a long
dead top CIA operative to provide residual cover for the Bush administration…
The reason? Bush and his
cronies are all facing charges of war crimes, not just in minor jurisdictions
but heading for the ICC, putting them on the dock with Gaddafi ( a far less
harmful character).
As for the timing of
this incident? This we will work on. What we can easily surmise is that some of
the dead have been dead since their bodies were taken away from the helicopter
crash site in Abbotabad.
Who would order such a
thing? We are going to have to wait but we are going to find out. However, we
expected this, the timing is exactly as predicted. Read full
article ‘
Tea
Party hypocrisy Fueled by populist anger, but hijacked by plutocrats. (Washington
Post) [ Ah, sweet Mr. Milbank. His love for wobama knows no bounds. Yet, given
the choice between hypocrisy and inveterate lying, assuming arguendo, Mr.
Milbank’s premise to be true (doubtful and I think most would say no), most
would take hypocrisy any day. By now, most have realized that at best wobama’s
a b***s*** artist, and at worst, an incorrigible liar; certainly as measured by
his campaign promises that got him elected, belied by his actions. If Mr.
Milbank had only said the nation’s been hijacked by plutocrats to whom wobama’s
paid homage, I’d certainly agree in part. After all, there has been and
continues a huge wealth transfer at the expense and to the detriment of the
middle class, to the substantial benefit of the ‘plutocrats’ who in america are
of that small percentile criminal class for whom everyone else must (and must
be) sacrifice(d), ie., the wall street frauds, military industrial complex,
government contractors, etc.. And, yet another casualty … if wobama’s
peace-prize is not revoked, then that ignoble nobel thing should be disbanded
for lack of credibility and moral compass.
Deal
fails to soothe foreign critics
(Washington Post) { Let’s not kid outselves! I consider Russia a
rational, great nation (their painful, yet peaceful transition from their
mistake is a testament to their greatness as a people / nation and Gorbachev
particularly – China’s recent success is as far from communism as can be
imagined) and have high regard for Putin though lamenting his youthful, albeit
inherited indiscretion (kind of like that Tiger hunt which he’s now wisely
disavowed) in dabbling in the failed system of communism (the great lie where
everybody’s equal except some are more equal than others, ie., party members,
bureaucrats, etc., kind of like america today with the addition of the
plutocratic wealthy thieves, criminals, frauds, etc.). That said, most of these
so-called ‘foreign critics’ fall predominantly into either of two categories;
viz., ‘pots calling the kettle black’, or ‘enablers’. Putin
Calls U.S. a “Parasite,” Demands New Reserve Currency Activist Post The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (Washington Post) [ Riiiiight! It’s
everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s
meltdown according to wobama aficionados / intractable wobama apologists,
Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s
personal character flaws (among many unmentioned) to exculpate the failed
president wobama. Wobama’s failed miserably and yet had the easiest act in the
world to follow in the persona of fellow failed president war criminal dumbya
bush whose failed policies up to the real start of the election cycle he’s
largely followed. After all, Mr. Robinson, how different really are the parties
these days when profligate spending on illegal, unnecessary wars was continued
when democrats controlled congress, and then even the executive office when
continuing failed president and war criminal dumbya bush’s nation bankrupting,
nation destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Drudgereport:
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN:
'HE IS A LOSER'...
GALLUP:
40% APPROVAL...
Obama
takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if
wobama’s actions had not belied his words/campaign promises, the nation’s
position, though still ominous, would have been substantially improved.
National / World
Gallup:
Disapproval of Obama Ties All-Time High CNS News | American’s approval of President tied its
all-time low of 42 percent.
Same
ritual, a changed president This time, President Obama traveled to Dover
Air Force Base to greet the remains of Americans he had ordered to Afghanistan
himself. Some
victims of crash are identified (Washington Post) [ Changed? I think we could
all agree that despite campaign promises to the contrary, nothing’s changed;
except, pervasively corrupt defacto bankrupt america is more hopelessly
bankrupt and the dismal economic picture has become more dour.
FLASHBACK:
Eyewitness to OBL Raid Saw Helicopter Explode (TRANSCRIPT) [ As
indicated on this albertpeia.com website, I didn’t buy the administration’s
desperate and politically opportunist Osama event and still don’t buy it; and
further, I believe this! ]Veterans Today
| TRANSCRIPT of critical interview with Pakistani eyewitness to Bin Laden raid.
Is this the key to SEAL Team 6′s demise?
“Bin Laden”
Heroes Probably Murderered to Keep Them Quiet Gordon Duff
Veterans
Today August 7, 2011 | Some Possibly Killed in Abbottabad Helicopter
Crash Months Before. [ As indicated on this albertpeia.com website, I didn’t
buy the administration’s desperate and politically opportunist Osama event and
still don’t buy it; and further, I believe this! ] Today 31 NATO troops, 20 of
them Navy Seals from the Osama bin Laden operation died in what is reported as
a helicopter crash in Afghanistan.
‘The chance of this
story being true is almost nil. The chances of this being a staged coverup is
over 80%. We believe these people were murdered to silence them. This is why.
We have solid
information on two areas:
This gave the US several
areas of severe vulnerability. Generally, Navy Seals are the best people in the
world at keeping their mouths shut, these are real team players, as the term
“Seal Team” belies.
Petraeus is a possible
presidential contender and had to be denied this “gift from heaven,” a fast
track to the oval office for sure.
Again, I remind you, I
went over specific meetings on bin Laden with his handlers, getting every last
detail. I have watched what has gone on, the continuing need to vilify a long
dead top CIA operative to provide residual cover for the Bush administration…
The reason? Bush and his
cronies are all facing charges of war crimes, not just in minor jurisdictions
but heading for the ICC, putting them on the dock with Gaddafi ( a far less
harmful character).
As for the timing of
this incident? This we will work on. What we can easily surmise is that some of
the dead have been dead since their bodies were taken away from the helicopter
crash site in Abbotabad.
Who would order such a
thing? We are going to have to wait but we are going to find out. However, we
expected this, the timing is exactly as predicted. Read full
article ‘
Tea
Party hypocrisy Fueled by populist anger, but hijacked by plutocrats.
(Washington Post) [ Ah, sweet Mr. Milbank. His love for wobama knows no bounds.
Yet, given the choice between hypocrisy and inveterate lying, assuming arguendo,
Mr. Milbank’s premise to be true (doubtful and I think most would say no), most
would take hypocrisy any day. By now, most have realized that at best wobama’s
a b***s*** artist, and at worst, an incorrigible liar; certainly as measured by
his campaign promises that got him elected, belied by his actions. If Mr.
Milbank had only said the nation’s been hijacked by plutocrats to whom wobama’s
paid homage, I’d certainly agree in part. After all, there has been and
continues a huge wealth transfer at the expense and to the detriment of the
middle class, to the substantial benefit of the ‘plutocrats’ who in america are
of that small percentile criminal class for whom everyone else must (and must
be) sacrifice(d), ie., the wall street frauds, military industrial complex,
government contractors, etc.. And, yet another casualty … if wobama’s
peace-prize is not revoked, then that ignoble nobel thing should be disbanded
for lack of credibility and moral compass.
Deal
fails to soothe foreign critics
(Washington Post) { Let’s not kid outselves! I consider Russia a
rational, great nation (their painful, yet peaceful transition from their
mistake is a testament to their greatness as a people / nation and Gorbachev
particularly – China’s recent success is as far from communism as can be
imagined) and have high regard for Putin though lamenting his youthful, albeit
inherited indiscretion (kind of like that Tiger hunt which he’s now wisely
disavowed) in dabbling in the failed system of communism (the great lie where
everybody’s equal except some are more equal than others, ie., party members,
bureaucrats, etc., kind of like america today with the addition of the
plutocratic wealthy thieves, criminals, frauds, etc.). That said, most of these
so-called ‘foreign critics’ fall predominantly into either of two categories;
viz., ‘pots calling the kettle black’, or ‘enablers’. Putin
Calls U.S. a “Parasite,” Demands New Reserve Currency Activist Post The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (Washington Post) [ Riiiiight! It’s
everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s
meltdown according to wobama aficionados / intractable wobama apologists,
Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s
personal character flaws (among many unmentioned) to exculpate the failed
president wobama. Wobama’s failed miserably and yet had the easiest act in the
world to follow in the persona of fellow failed president war criminal dumbya
bush whose failed policies up to the real start of the election cycle he’s
largely followed. After all, Mr. Robinson, how different really are the parties
these days when profligate spending on illegal, unnecessary wars was continued
when democrats controlled congress, and then even the executive office when
continuing failed president and war criminal dumbya bush’s nation bankrupting,
nation destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Drudgereport:
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN:
'HE IS A LOSER'...
GALLUP:
40% APPROVAL...
Obama
takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if
wobama’s actions had not belied his words/campaign promises, the nation’s
position, though still ominous, would have been substantially improved.
Dollar
down against major currencies Global investors are becoming antsy about the
dollar’s role as the currency at the core of the world’s financial system. (Washington Post) [ Antsy? At this point, if it was only just
‘antsy’ there’d be room to hope. Despite the understatement, this is now way
beyond ‘antsy’. Reality counts! For
first time, U.S. credit rating cut from AAA Standard & Poor’s announces
that it has downgraded U.S. government debt to AA+, dealing a huge symbolic
blow to the world’s economic superpower in what was a sharply worded critique
of the American political system. (Washington Post) [ Come on! Let’s get real
here! Symbolic? If it were only that. If it were only the american political
system, there’d at least be a plausible reason for hope, albeit futile even at
that. Indeed, pervasively corrupt, defacto bankrupt america, literally causing
destruction domestically and internationally, is a testament to the failure of
the american system generally, or more specifically what it has devolved into.
Whatever america was and purports to be, it certainly doesn’t take a PhD in
Poli Sci to know, ‘it ain’t that no more’. Moreover, the ‘genie’s out of the
bottle’ and try as they may, like ‘trying to put toothpaste back in the tube’,
or ‘unringing the bell’, perceptions of america will never be the same in the
most negative but realistic and factual sense; that is, beyond the propaganda,
efforts at censorship, and spin. Those ‘propaganda dogs don’t hunt no more.’ I
can further say that in america, by close observation and direct experience
(with more than sufficient representative sampling), I’ve seen and experienced
the worst of human nature; behavior so egregious so as to defy any known norms
of civilized behavior. Quite simply, there is no excuse for america! Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ America’s
shine is wearing off
The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (Washington Post) [ Riiiiight! It’s everything
but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s meltdown
according to wobama aficionados / intractable wobama apologists, Messieurs
Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s personal
character flaws (among many unmentioned) to exculpate the failed president
wobama. Wobama’s failed miserably and yet had the easiest act in the world to
follow in the persona of fellow failed president war criminal dumbya bush whose
failed policies up to the real start of the election cycle he’s largely
followed. After all, Mr. Robinson, how different really are the parties these
days when profligate spending on illegal, unnecessary wars was continued when
democrats controlled congress, and then even the executive office when continuing
failed president and war criminal dumbya bush’s nation bankrupting, nation
destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Drudgereport:
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN:
'HE IS A LOSER'...
GALLUP:
40% APPROVAL...
Obama
takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if
wobama’s actions had not belied his words/campaign promises, the nation’s
position, though still ominous, would have been substantially improved.
Rubin:
Fed to the country: the economy stinks
‘…information received since the Federal Open Market
Committee met in June indicates that economic growth so far this year has been
considerably slower than the Committee had expected. Indicators suggest a
deterioration in overall labor market conditions in recent months, and the
unemployment rate has moved up.The report adds: “The Committee now expects a
somewhat slower pace of recovery over coming quarters than it did at the time
of the previous meeting and anticipates that the unemployment rate will decline
only gradually toward levels that the Committee judges to be consistent with
its dual mandate.”
(Washington
Post) [ As if we didn’t know and needed them to tell us. Don’t forget, this
pre-election year is as good as it gets; yet is as dismal as can be imagined
with substantially worse to follow. Dual Mandate? I’m surprised they had the
audacity to use the term. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! What changed from yesterday which warranted a more than 600 point
plunge with paper stocks still over-valued and a 545 bounce off of afternoon
lows? Nothing! Absolutely nothing, yet a manipulated computer-programmed
churn-and-earn suckers’ rally based on fraud and b***s*** alone to keep suckers
suckered, which makes for an especially great opportunity to sell / take
profits since there’s much, much worse to come! Famed economist predicts economic calamity in 2012. See the
evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com) ‘Robert Wiedemer’s new book,
“Aftershock: Protect Yourself and Profit in the Next Global Financial
Meltdown,” quickly is becoming the survival guide for the 21st century. And
Newsmax’s eye-opening Aftershock Survival Summit video, with exclusive
interviews and prophetic predictions, already has affected millions around the
world — but not without ruffling a few feathers. [ The instant video on the economic / financial collapse
from Stansberry and Associates is so well researched and succinctly presented that I’ve archived same on my website;
also, because the facts and views presented comport with the facts and views
I’ve presented on my site which I believe to be correct. This is a must-view,
must-see that I strongly recommend!
The complete url:
http://www.albertpeia.com/stansberrysinvestmentadvisory.flv ( 146mb – approx. 1
hr. 17 min. ) http://www.albertpeia.com/stansberrysinvestmentadvisory.mp4 ( 374mb
) Written text of presentation
(without pictures / charts)] [A lot of pre-election year obfuscation,
manipulation but the debacle is already here:
Harry
Dent, Jr. Economy will be in a Depression by 2011
Dow will Fall to 3,800 –
4,500 by 2012
Nasdaq will Fall Below
1,100, its 2002 low, by late 2010 or mid-2012 at the latest.
U.S. Dollar will Decline
Housing will Decline by 40
– 60% from Today’s Levels
Greatest Economic and
Banking Crisis since the 1930s will Occur Between 2010 and 2012).
What
can the Federal Reserve do? With the U.S. economy at risk of a double-dip
recession, the central bank lacks tools to do anything. (Washington Post) [ Oh
I’d say they’ve done quite enough … wouldn’t you? … Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This
catering to fraudulent wall street was a loser ab initio! That so-called
‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan
and failed miserably except for the frauds on wall street who commissioned up
and down; and, make no mistake, those computer-programmed high-frequency
trading volumes have now been maximized for nation-economy-draining profits for
the frauds like never before and have never been higher. The QE and
dollar-debasement policies were always predictably inflationary, ultimately
hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that
was but in reality good only for the frauds on wall street. No, there is no
modern day alchemy that spins worthless paper into gold except fraudulently for
the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing
out’ for hard currency and gold, precious metals, at everyone else’s expense
including main street. ] In
his June 7 speech, Fed Chairman Ben Bernanke stated, “the best way for the
Federal Reserve to support the fundamental value of the dollar in the medium
term is to pursue our dual mandate of maximum employment and price stability,
and we will certainly do that.”
.. Bernanke’s results ..
since Ben took the reins:
Feb ’06 – April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
.. The
standard unemployment rate most often used by the Fed is currently at 9.1%, up
90% since Bernanke started. The more inclusive (realistic) U6 number
stands at 15.8%, up 75% in the same period. The Civilian Participation
Rate has declined 2.87% to 64.2%.
This is the lowest level
the U.S. has seen since March, 1984. The decline amounts to 8,946,844
fewer Americans in the labor force. Had they not dropped out because of a
lack of jobs, the “official” unemployment rate would be significantly
higher. While we can debate the meaning of the term maximum employment,
it is clear that the jobs data has deteriorated considerably since Bernanke
took the reins at the Fed. ..
In conclusion, it is
evident that Ben Bernanke is failing his mandates. We believe it must
come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding.
Matt Marcewicz
& Robert Barone, Ph.D.
.. ‘
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see
infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is
a criminal statute which provides a civil remedy, including treble damages and
attorney fees, as an incentive for private prosecution of said claims probably
owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such
assistance given the seriousness and prevalence of said violations of law which
have a corrupting influence on the process, and which corruption is pervasive).
A grievance complaint against Coan was also filed concurrently with the subject
action and held in abeyance pending resolution of the action which was
illegally dismissed without any supporting law and in contravention of the
Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5
pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as fbicorrespondencereyes.htm
. With regard to the calls to the FBI’s LA and New Haven, CT
offices: There was one call to the LA office and I was referred to the Long
Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I
gave probative evidentiary documents of the money laundering which he confirmed
as indicative of same (he was transferred from said office within approximately
a month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable
insurance / surety coverage and neither LA, nor creditors, nor I should
continue to have been damaged by this brazened corrupt and illegal scenario,
which should be resolved in accordance with the meaningful rules of law
apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th
Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell
phone)
(213) 622-3745 (listed
land line but there are unresolved problems with the line, computer connection
may be the reason but I hesitate to chance greater non-performance / worsening
by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651
-magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
[video] Bernanke Does Nothing - Market Cheers
In
This Market, Doing Nothing is Doing Something
3 Reasons Markets Rallied After the Big Sell-Off Wall St Cheat Sheet August 9, 2011, Markets closed up on Wall Street today: Dow +4.01% ,
S&P +4.77% , Nasdaq +5.32% , Oil -0.92% , Gold +0.87% .
On the commodities
front, Oil fell to $80.56 a barrel, while precious metals were mixed, with Gold
continuing its climb, reaching $1,728.10 an ounce and Silver falling 5.76% to
$37.11 an ounce.
Today’s markets were up
because:
1) Fed. While many
stocks were making up for Monday’s losses at a frenzied pace, the Federal
Reserve’s announcement this afternoon that it will likely keep interest
rates at record lows through mid-2013, citing weak economic growth as well as
more temporary factors, like the Japan crisis and high oil prices, temporarily
reversed the upward trend. While the news means investors have another year
more than previously expected to take advantage of near-zero interest rates,
stocks began to fall off after the announcement, maybe because investors were
hoping the Fed would do more — QE3 anyone? — or maybe the Fed’s decision to
extend low borrowing costs for two more years renewed fears about the economy’s
non-recovery. Either way, markets continued to rally after yesterday’s mass
sell-off left many valuable stocks ripe for the picking.
2) Oversold. Today’s
market gains don’t necessarily represent increased confidence in the market,
but rather confidence in individual stocks, many of which became oversold in
the last few weeks as fearful investors fled. The S&P 500 was more technically
oversold than it has been in the last 10 years, with its 14-day relative
strength index down to 16.5%. Anything below 20% generally attracts buyers. The
perfect example is Exxon Mobil . Apple’s market capitalization actually rose
above Exxon’s today, despite the fact that Exxon’s
annual revenue is four times that of Apple. Though oil prices have been
sinking lately, the stock still remains highly profitable for investors. After
falling 7.97% in the last five days of trading, XOM shares reversed this
afternoon, climbing 2.07%.
3) Banks. With Citigroup
and Bank of America leading the way, financials rallied today after Monday’s
huge sell-off. The financial sector went from being the worst performing of all
10 sectors on the S&P 500 Monday, to the best performer today. While the
Fed’s announcement in the early afternoon caused a slight hiccup in otherwise
solid sector growth, financial stocks quickly recovered, climbing higher still.
After markets closed on Monday, Standard & Poor’s assured investors that it had no
plans to downgrade the banking sector, and in fact, expects higher earnings,
improved asset quality and capital in the third quarter…’
The 10
Most Indebted Governments in the World
http://wallstcheatsheet.com/stocks/the-10-most-indebted-governments-in-the-world.html
‘…Coming in first place is Japan (NYSE:EWJ),
with a whopping $13.795 trillion in debt, just short of the the $14.27 trillion
in debt the U.S. carries .. Coming in second against Japan in terms of its
debt-to-GDP ratio is Greece, where debt is a relatively low 139% of GDPHot
Feature: Who Owns U.S. Debt? Following Greece on the
list is Italy (NYSE:EWI), then Iceland, Belgium, Ireland, and the U.S. So
why isn’t Japan enduring the same kind of financial crisis that so many
countries with significantly less debt are currently facing? The answer is
simple: Japan owes most of its debt to itself. In comparison, the U.S. owes
about 30% of its debt to foreign investors, with China (NYSE:FXI)
holding $1.1 billion in U.S. debt, more than any other country…’
‘I
Can Smell QE3, QE4 and Many More,’ Says Marc Faber Business Intelligence Middle East |
Downgrade was long overdue as the ‘junk bond’ was no longer worth of an AAA
rating.
Fed vows low
rates for two more years AFP
| The Federal Reserve pledged to hold interest rates near zero for two more
years.
Greenspan
says we can fix debt problems by printing money to the point of hyperinflation
Madison Ruppert |
Former Chairman of the private Federal Reserve Alan Greenspan revealed the
delusional mindset that has brought us to this precipice.
Fed May Boost Stimulus
Pledge Bloomberg | Federal Reserve officials may strengthen their commitment
to record monetary stimulus as soon as today.
JP
Morgan Warns Gold to Go Parabolic and Rise to $2,500 By Year End Gold Core
| Gold reached new record nominal highs at $1,780.10/oz and new nominal highs
in euros and sterling also this morning.
Rick
Santelli: ‘If it Wasn’t for the Tea Party…We Would Have Been Rated BBB’
CNBC | It’s hard to have an AAA economy with a CCC president.
The Entire
World Is Going Bear Market Business Insider | A scary aspect of this
selloff: There’s nowhere safe.
8 More Reasons Why You Should Be Deeply Concerned That
The U.S. Government Has Lost Its AAA Credit Rating The Economic
Collapse | Are you ready for part two of the global financial collapse? When we
examine this “deal” that way, what does it look like? The
Economic Collapse Aug 9, 2011 ‘Are you ready for part two
of the global financial collapse? Many now fear that we may be on the
verge of a repeat of 2008 after the events of the last several days. On
Friday, Standard & Poor’s stripped the U.S. government of its AAA credit
rating for the first time in history. World financial markets had been
anticipating a potential downgrade, but that still didn’t stop panic from
ensuing as this week began. On Monday, the Dow Jones Industrial
Average dropped 634.76 points, which represented a 5.5 percent plunge. It
was the largest one day point decline and the largest one day percentage
decline since December 1, 2008. Overall, stocks have fallen by about 15
percent over the past two weeks. When Standard & Poor’s downgraded
long-term U.S. government debt from AAA to AA+, it was just one more indication
that faith in the U.S. financial system is faltering. Previously, U.S.
government debt had a AAA rating from S&P continuously since 1941, but now
that streak is over. Nobody is quite sure what comes next. We
truly are in unprecedented territory. But one thing is for sure – there
is a lot of fear in the air right now.So exactly what caused S&P to downgrade
U.S. government debt?Well, it was the debt ceiling deal that broke the camel’s
back.According to S&P, the
debt ceiling deal “falls short of what, in our view, would be necessary to
stabilize the government’s medium-term debt dynamics.”As I have written about
previously, the debt ceiling deal was a complete and
total joke, and S&P realized this.Forget all of the huge figures that the
mainstream media has been throwing at you concerning this debt ceiling
deal. The only numbers that matter are for what happens before the next
election.The only way that the current debt ceiling deal will last beyond the
2012 election is if Obama is still president, the Democrats still control the
Senate and the Republicans still control the House. If any of those
things change, this deal ceiling deal is dead as soon as the election is
over.Even if all of those things remain the same, there is still a very good
chance that we would see dramatic changes to the deal after the next
election.So in evaluating this “deal”, the important thing is to look at what
is going to happen prior to the 2012 election.Well, Barack Obama and the
Democrats get the debt ceiling raised by over 2 trillion dollars and will not
have to worry about it again until after the 2012 election.The Republicans get
25 billion dollars in “savings” from spending increases that will be
cancelled.The “Super Congress” that is supposed to be coming up with the second
phase of the plan may propose some additional “spending cuts” that would go
into effect before the 2012 election, but that seems unlikely.So in the final
analysis, the Democrats won the debt ceiling battle by a landslide.25 billion
dollars is not even 1 percent of the federal budget. The U.S. national debt continues to spiral wildly out of
control, and our politicians could not even cut the budget by one
percent.Somehow our politicians believed that the rest of the world would be
convinced that they were serious about cutting the budget, but it turns out
that global financial markets are tired of getting fooled.It has gotten to the
point where now even the big credit rating agencies are being forced to do
something. Not that they really have much credibility left. Everyone
still remembers all of those AAA-rated mortgage-backed securities that imploded
during the last financial crisis. The reality is that the big credit
rating agencies are a bad joke at this point.Several smaller credit rating
agencies have already significantly slashed the credit rating of the U.S.
government. But a lot of pressure had been put on the “big three” to keep
them in line.But now things have gotten so ridiculous that S&P felt forced
to make a move.Sadly, our politicians are still trying to maintain the charade
that everything is okay. Barack Obama says that financial
markets “still believe our credit is AAA and the world’s investors agree”.Once
again, Barack Obama is dead wrong.The truth is that the credit rating for the
U.S. government should have been slashed significantly a long time ago.
This move by S&P was way, way overdue.Moody’s might be the next one to
issue a downgrade. At the moment, Moody’s says that it will not be
downgrading U.S. debt for now, but Moody’s also says that it has serious doubts about the enforceability of
the “budget cuts” in the debt ceiling deal.This crisis is just beginning.
It is going to play out over time, and it is going to be very messy.The
following are 8 more reasons why you should be deeply concerned that the U.S.
government has lost its AAA credit rating….
#1 The U.S. dollar and U.S. government debt are at the
very heart of the global financial system. This credit rating downgrade
just doesn’t affect the United States – it literally shakes the financial
foundations of the entire world.
#2 As the stock market crashes, investors are flocking
to U.S. Treasuries right now. However, once the current panic is over the
U.S. could be faced with increased borrowing costs. The credit rating
downgrade is a signal to investors that they should be receiving a higher rate
of return for investing in U.S. government debt. If interest rates on
U.S. government debt do end up going up, that is going to make it more
expensive for the U.S. government to borrow money. The higher interest on
the national debt goes, the more difficult it is going to become to balance the
budget.
#3 We could literally see hundreds of other credit
rating downgrades now that long-term U.S. government debt has been
downgraded. For example, S&P has already slashed the credit ratings
of Fannie Mae and Freddie Mac from AAA to AA+. S&P has also already begun to
downgrade the credit ratings of states and municipalities. Nobody is
quite sure when we are going to see the dominoes stop falling, and this is not
going to be a good thing for the U.S. economy.
#4 10-year U.S. Treasuries are the basis for a whole
lot of other interest rates throughout our economy. If we see the rate
for 10-year U.S. Treasuries go up significantly, it will suddenly become a lot
more expensive to get a car loan or a home loan.
#5 The current financial panic caused by this downgrade
is hitting financial stocks really hard. The big banks led the decline
back in 2008, and it looks like it might be happening again. Just check
out what CNN says happened to
financial stocks on Monday….
Financial stocks
were among the hardest hit, with Bank of America (BAC, Fortune 500) plunging
20%, and Citigroup (C, Fortune 500) and Morgan Stanley (MS, Fortune 500)
dropped roughly 15%.
#6 China is freaking out. China’s official news
agency says that China “has every right now to demand the United States to
address its structural debt problems and ensure the safety of China’s dollar
assets”. If China starts dumping U.S. government debt that would make
things a lot worse.
#7 There are already calls for the Federal Reserve to
step in and do something. If the U.S. economy drops into another
recession, will we see more quantitative easing? It seems like we have
reached a point where the Fed is constantly in “emergency mode”.
#8 The U.S. national debt continues to get worse by the
day. Just check out what economics
professor Laurence J. Kotlikoff recently told NPR….
“If you add up all
the promises that have been made for spending obligations, including defense
expenditures, and you subtract all the taxes that we expect to collect, the
difference is $211 trillion. That’s the fiscal gap”
Dick Cheney once said
that “deficits don’t matter”, but the truth is that all of the debt we have
been piling up for decades is now catching up with us.The United States is in
such a huge amount of financial trouble that it is hard to put into
words. The days of easy borrowing for the U.S government are starting to
come to an end. We have been living in the greatest debt bubble in the
history of the world, and it has fueled a tremendous amount of “prosperity”,
but now the party is ending.
A whole lot of financial
pain is on the horizon. Please prepare for the hard times that are
coming.’
National / World
Gallup:
Disapproval of Obama Ties All-Time High CNS News | American’s approval of President tied its
all-time low of 42 percent.
FLASHBACK:
Eyewitness to OBL Raid Saw Helicopter Explode (TRANSCRIPT) [ As
indicated on this albertpeia.com website, I didn’t buy the administration’s
desperate and politically opportunist Osama event and still don’t buy it; and
further, I believe this! ]Veterans
Today | TRANSCRIPT of critical interview with Pakistani
eyewitness to Bin Laden raid. Is this the key to SEAL Team 6′s demise?
“Bin Laden”
Heroes Probably Murderered to Keep Them Quiet Gordon Duff
Veterans
Today August 7, 2011 | Some Possibly Killed in Abbottabad Helicopter
Crash Months Before. [ As indicated on this albertpeia.com website, I didn’t
buy the administration’s desperate and politically opportunist Osama event and
still don’t buy it; and further, I believe this! ] Today 31 NATO troops, 20 of
them Navy Seals from the Osama bin Laden operation died in what is reported as
a helicopter crash in Afghanistan.
‘The chance of this
story being true is almost nil. The chances of this being a staged coverup is
over 80%. We believe these people were murdered to silence them. This is why.
We have solid
information on two areas:
This gave the US several
areas of severe vulnerability. Generally, Navy Seals are the best people in the
world at keeping their mouths shut, these are real team players, as the term
“Seal Team” belies.
Petraeus is a possible
presidential contender and had to be denied this “gift from heaven,” a fast
track to the oval office for sure.
Again, I remind you, I
went over specific meetings on bin Laden with his handlers, getting every last
detail. I have watched what has gone on, the continuing need to vilify a long
dead top CIA operative to provide residual cover for the Bush administration…
The reason? Bush and his
cronies are all facing charges of war crimes, not just in minor jurisdictions
but heading for the ICC, putting them on the dock with Gaddafi ( a far less
harmful character).
As for the timing of
this incident? This we will work on. What we can easily surmise is that some of
the dead have been dead since their bodies were taken away from the helicopter
crash site in Abbotabad.
Who would order such a
thing? We are going to have to wait but we are going to find out. However, we
expected this, the timing is exactly as predicted. Read full
article ‘
Dollar
down against major currencies Global investors are becoming antsy about the
dollar’s role as the currency at the core of the world’s financial system. (Washington Post) [ Antsy? At this point, if it was only just
‘antsy’ there’d be room to hope. Despite the understatement, this is now way
beyond ‘antsy’. Reality counts! For
first time, U.S. credit rating cut from AAA Standard & Poor’s announces
that it has downgraded U.S. government debt to AA+, dealing a huge symbolic
blow to the world’s economic superpower in what was a sharply worded critique
of the American political system. (Washington Post) [ Come on! Let’s get real
here! Symbolic? If it were only that. If it were only the american political
system, there’d at least be a plausible reason for hope, albeit futile even at
that. Indeed, pervasively corrupt, defacto bankrupt america, literally causing
destruction domestically and internationally, is a testament to the failure of
the american system generally, or more specifically what it has devolved into.
Whatever america was and purports to be, it certainly doesn’t take a PhD in
Poli Sci to know, ‘it ain’t that no more’. Moreover, the ‘genie’s out of the
bottle’ and try as they may, like ‘trying to put toothpaste back in the tube’,
or ‘unringing the bell’, perceptions of america will never be the same in the
most negative but realistic and factual sense; that is, beyond the propaganda,
efforts at censorship, and spin. Those ‘propaganda dogs don’t hunt no more.’ I
can further say that in america, by close observation and direct experience
(with more than sufficient representative sampling), I’ve seen and experienced
the worst of human nature; behavior so egregious so as to defy any known norms
of civilized behavior. Quite simply, there is no excuse for america! Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ America’s
shine is wearing off
The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (Washington Post) [ Riiiiight! It’s
everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s
meltdown according to wobama aficionados / intractable wobama apologists,
Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s
personal character flaws (among many unmentioned) to exculpate the failed
president wobama. Wobama’s failed miserably and yet had the easiest act in the
world to follow in the persona of fellow failed president war criminal dumbya
bush whose failed policies up to the real start of the election cycle he’s
largely followed. After all, Mr. Robinson, how different really are the parties
these days when profligate spending on illegal, unnecessary wars was continued
when democrats controlled congress, and then even the executive office when
continuing failed president and war criminal dumbya bush’s nation bankrupting,
nation destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Drudgereport:
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN:
'HE IS A LOSER'...
GALLUP:
40% APPROVAL...
Obama
takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if
wobama’s actions had not belied his words/campaign promises, the nation’s
position, though still ominous, would have been substantially improved.
Libya blasts
NATO village ‘massacre’ AFP | Libyan authorities on Tuesday accused NATO of
a “massacre” of 85 villagers in air strikes.
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see
infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5
pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf
http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but typical
problem with my mail) along with my response thereto is included on the 3 disks
as fbicorrespondencereyes.htm
. With regard to the calls to the FBI’s LA and New Haven, CT
offices: There was one call to the LA office and I was referred to the Long
Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I
gave probative evidentiary documents of the money laundering which he confirmed
as indicative of same (he was transferred from said office within approximately
a month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable
insurance / surety coverage and neither LA, nor creditors, nor I should
continue to have been damaged by this brazened corrupt and illegal scenario,
which should be resolved in accordance with the meaningful rules of law
apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th
Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell
phone)
(213) 622-3745 (listed
land line but there are unresolved problems with the line, computer connection
may be the reason but I hesitate to chance greater non-performance / worsening
by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651
-magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
Traders
unload across the board; investors pour cash into bonds Despite efforts by
world leaders to reassure markets, investors remained alarmed over the economic
woes in the U.S. and a spreading debt crisis in Europe. (Washington Post) [
Sounds like a plan! Among their first in quite some time consonant with
reality. The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed! Any
up move / strength particularly, this is still a great opportunity to sell /
take profits since there’s much, much worse to come! Famed economist predicts
economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to
political desperation!
Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif
Editorial:
What S&P got right (Washington
Post) [The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed! Any
up move / strength, is still a great opportunity to sell / take profits since
there’s much, much worse to come! Famed economist predicts economic calamity
in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to
political desperation! [ Is this some parallel
universe where unfounded criticism is levied at S&P for the downgrade when
they’ve actually cut the pervasively corrupt, defacto bankrupt disunited states
a break by not rating what america truly is; viz., junk status for the paper /
liabilities / obligations that cannot and will not be paid (or the equivalent
vis-à-vis what would be in worse than evermore worthless Weimar dollars or some
other ‘ponzi-like’ subterfuge, obfuscation). The amounts are insurmountable
going forward. They point to Moody’s and Fitch; yet, let’s not kid ourselves,
S&P is the ‘800 pound gorilla’ in this world among rating agencies and
moody’s, fitch have substantially diminished themselves as entities consistent
with their ‘mission and purpose’ and as well, their credibility. I mean, come
on! Consider the pressure that was and continues to be applied. Moody’s and
fitch, quite frankly, folded. China’s rating agency has already downgraded u.s.
paper and they’re ‘holding’ (huge amounts of that u.s. junk); and hence,
against their own interest. Wake up!
Drudgereport: TEMPLETON chairman: Financial
Crisis 'Around Corner'...
'WE ARE ON THE VERGE OF A GREAT, GREAT DEPRESSION...'
Obama Economists Admit:
'Stimulus' Cost $278,000 per Job...
GALLUP SHOCK: 'REPUBLICAN'
BEATS OBAMA BY 8%
APPROVE: 42%
Return of Mass Layoffs a Grim
Sign...
DOWNGRADED!
DETAILS [.PDF FILE]
FLASHBACK: 'No risk' USA will
lose its top credit rating, says Treasury's Geithner … [ Well, we all know the
powers of foresight possessed by ‘no-recession-helicopter ben’ and tiny tim
geithner ] ...
The
powerless president Obama remains
indecisive, and ignored, as larger forces bring down the country. Robinson:
S&P downgrades the GOP (Washington Post) [ Riiiiight! It’s
everything but ‘wobama the b’ (for b***s***) that’s to blame for the nation’s
meltdown according to wobama aficionados / intractable wobama apologists,
Messieurs Milbank and Robinson. Sweet Mr. Milbank even points to wobama’s
personal character flaws (among many unmentioned) to exculpate the failed
president wobama. Wobama’s failed miserably and yet had the easiest act in the
world to follow in the persona of fellow failed president war criminal dumbya
bush whose failed policies up to the real start of the election cycle he’s
largely followed. After all, Mr. Robinson, how different really are the parties
these days when profligate spending on illegal, unnecessary wars was continued
when democrats controlled congress, and then even the executive office when
continuing failed president and war criminal dumbya bush’s nation bankrupting,
nation destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Drudgereport: HARRY BELAFONTE: Obama 'has
failed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battle to
TWITTER, loses more than 33,000 followers...
FARRAKHAN: 'THAT'S A MURDERER
IN THE WHITE HOUSE'...
Most importantly, realize that if
wobama’s actions had not belied his words/campaign promises, the nation’s position,
though still ominous, would have been substantially improved.
We have solid information on two areas:
Dollar
down against major currencies Global investors are becoming antsy about the
dollar’s role as the currency at the core of the world’s financial system. (Washington Post) [ Antsy? At this point, if it was only just
‘antsy’ there’d be room to hope. Despite the understatement, this is now way
beyond ‘antsy’. Reality counts! For
first time, U.S. credit rating cut from AAA Standard & Poor’s announces
that it has downgraded U.S. government debt to AA+, dealing a huge symbolic
blow to the world’s economic superpower in what was a sharply worded critique
of the American political system. (Washington Post) [ Come on! Let’s get real
here! Symbolic? If it were only that. If it were only the american political
system, there’d at least be a plausible reason for hope, albeit futile even at
that. Indeed, pervasively corrupt, defacto bankrupt america, literally causing
destruction domestically and internationally, is a testament to the failure of
the american system generally, or more specifically what it has devolved into.
Whatever america was and purports to be, it certainly doesn’t take a PhD in
Poli Sci to know, ‘it ain’t that no more’. Moreover, the ‘genie’s out of the
bottle’ and try as they may, like ‘trying to put toothpaste back in the tube’,
or ‘unringing the bell’, perceptions of america will never be the same in the
most negative but realistic and factual sense; that is, beyond the propaganda,
efforts at censorship, and spin. Those ‘propaganda dogs don’t hunt no more.’ I
can further say that in america, by close observation and direct experience
(with more than sufficient representative sampling), I’ve seen and experienced
the worst of human nature; behavior so egregious so as to defy any known norms
of civilized behavior. Quite simply, there is no excuse for america! Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ America’s
shine is wearing off
S&P
downgrades US credit rating from AAA The United States has lost its sterling credit rating
from Standard & Poor's.
S&P
Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet August 5, 2011,
‘Standard & Poor’s
is out with an official
downgrade of the U.S. credit rating:
• We have lowered our
long-term sovereign credit rating on the United States of America to ‘AA+’ from
‘AAA’ and affirmed the ‘A-1+’ short-term rating.
• We have also removed
both the short- and long-term ratings from CreditWatch negative.
• The downgrade reflects
our opinion that the fiscal consolidation plan that Congress and the
Administration recently agreed to falls short of what, in our view, would be
necessary to stabilize the government’s medium-term debt dynamics.
• More broadly, the
downgrade reflects our view that the effectiveness, stability, and
predictability of American policymaking and political institutions have
weakened at a time of ongoing fiscal and economic challenges to a degree more
than we envisioned when we assigned a negative outlook to the rating on April
18, 2011.
• Since then, we have
changed our view of the difficulties in bridging the gulf between the political
parties over fiscal policy, which makes us pessimistic about the capacity of
Congress and the Administration to be able to leverage their agreement this
week into a broader fiscal consolidation plan that stabilizes the government’s
debt dynamics any time soon.
• The outlook on the
long-term rating is negative. We could lower the long-term rating to ‘AA’
within the next two years if we see that less reduction in spending than agreed
to, higher interest rates, or new fiscal pressures during the period result in a
higher general government debt trajectory than we currently assume in our base
case.
Investing Insights: Is
the Debt Ceiling Raise Bullish for Gold?’
13
Reasons Why The U.S. Is Now OFFICIALLY BANKRUPT Daily Bail | Stop the budget lies;
there are NO cuts. House passes bill to INCREASE spending by $7 trillion over
the next 10 years. ATTENTION IDIOTS IN
THE MAINSTREAM MEDIA – Stop The Budget Lies – There Are NO Cuts – House Passes
Bill To INCREASE Spending By $7 Trillion Over The Next 10 Years
Lies, Damn Lies And
Government Budgets
I am so pissed off by the
misreporting I could spit Ken Lewis hairballs.
#1) Corporate
journalists and financial pundits know NOTHING about budgets.
#2) The Boehner led
House passed legislation this evening that INCREASES
spending by $7 TRILLION over the next ten years versus a baseline budget
that would have increased spending by $9.5 TRILLION over the same period.
#3) CBO
said today that LESS than 2% of the decrease in the GROWTH of spending will
come before the 2012 elections. The remainder come after the election.
#4) Defense and war
machine spending will
grow at 3% per year instead of 4% per year.
#5) This was nothing but
an agreement to agree at a later date to look for reductions in planned
spending GROWTH.
#6) A Super Congress
will decide on a mix of tax increases and reductions in planned spending growth
to meet the targets at a later date.
#7) No
one in Congress even considered Ron Paul’s simple plan, now endorsed by Time
Magazine as well as liberal economist Dean Baker, to wipe out $1.6 trillion in
fake debt owned by the Federal Reserve. Debt that we owe to ourselves, that is entirely legal to wipe away.
#8.) CBO says under this
plan, the national debt will INCREASE from $14.4 TRILLION currently to more
than $25 TRILLION over the next 10 years.
#9) The assumption for
#8 above assumes the economy grows at 3% per year over the next 10 years, and
that Treasury interest rates stay at historic lows. When rates increase, and
bet your life that they will, interest on the debt will increase and so will
annual deficits, leading to a national debt much higher than the $25 TRILLION that CBO estimates.
#10) Regarding Treasury
rates and interest on the debt, get educated about a concept called ‘DURATION
RISK.’ Turbo Geithner and his MENSA bed-fellows at Treasury have chosen to
finance the great majority of recent and future borrowing in short-term bills,
which means that they have to be rolled over frequently. This is perhaps the
least-discussed and most dangerous issue related to Treasury debt.
#12) The bill passed by
Boehner tonight was the BEST they could do after 6 weeks of fighting.
#13) Due to #12, the
United States is officially f*cked.
Thank you and good
night.’
15
Reasons Markets Crashed This Week (8-1-11 to 8-5-11)Wall St. Cheat Sheet
Our Long
Range Investing Outlook Is Not Bright: Great Depression 2.0?
Jim
Rogers: US never scraped out of 2008 depression
RT | Asian investors are getting cagey on the back of
what’s been a tough week for America’s economy. Jim Rogers says they’re
ditching bonds.
Infowars
Special Report with Gerald Celente: US Dollar Isn’t Worth The Paper It’s
Printed On
Prison Planet | Gerald sounded the bell today saying that the US
dollar isn’t worth the paper it is printed on.
Investor
fear drowns out ECB, G7 pledges TOKYO/SYDNEY (Reuters) - Fear gripped Asian markets
on Monday as the fallout from the historic downgrade of the U.S. debt rating
drowned out pledges of assistance from Europe's central bank and so...
Moody's
says U.S. still needs to find further cuts
Economy
Stalling, Stocks Sinking, Gold Spiking at
Forbes
G7
Preparing Statement To Support Dollar, EU, In Fact Everything That Would
Otherwise Collapse Tomorrow, Before Asia Open Zero Hedge | Japan may intervene in
currency market if dollar falls.
How
JP Morgan Took Over All Kentucky’s Financial Services, And Why You Should Be
Scared AlterNet |
Major player in global financial crisis now in charge of all financial transactions
in entire state.
Dollar
to drop on S&P move; safe-haven demand seen Reuters | The U.S. dollar may weaken
and Treasury yields rise when Asian markets reopen on Monday.
Dollar
to drop on S&P move; safe-haven demand seen Reuters | The U.S. dollar
may weaken and Treasury yields rise when Asian markets reopen on Monday.
Global
policymakers discuss debt crisis, market turmoil Reuters | Global
policymakers held an emergency conference call on Sunday to discuss the twin
debt crises in Europe and the United States.
50%
unemployment, 90% stock market drop, 100% inflation. See the Evidence (Newsmax.com) ‘Robert Wiedemer’s new book,
“Aftershock: Protect Yourself and Profit in the Next Global Financial
Meltdown,” quickly is becoming the survival guide for the 21st century. And
Newsmax’s eye-opening Aftershock Survival Summit video, with exclusive
interviews and prophetic predictions, already has affected millions around the
world — but not without ruffling a few feathers.
Initially screened for a private audience, this gripping video exposed harsh
economic truths and garnered an overwhelming amount of feedback.
“People were sitting up and taking notice, and they begged us to make the video
public so they could easily share it,” said Newsmax Financial Publisher Aaron
DeHoog.
But that wasn’t as simple as it seems. Various online networks repeatedly shut
down the controversial video. “People were sending their friends and family to
dead links, so we had to create a dedicated home for it,” DeHoog said.
(Editor's Note: Watch Bob Wiedemer’s Aftershock Survival Summit video)
This wasn’t the first time Wiedemer’s predictions hit a nerve. In 2006, he was
one of three economists who co-authored a book correctly warning that the real
estate boom and Wall Street bull run were about to end. A prediction Federal
Reserve Chairman Ben Bernanke and his predecessor, Alan Greenspan, were not
about to support publicly.
Realizing that the worst was yet to come, Wiedemer and company quickly penned
“Aftershock.” However, just before it was publicly released, the publisher
yanked the final chapter, deeming it too controversial for newsstand and online
outlets such as Amazon.com.
“We got lucky,” DeHoog said. “I happened to read the original version, which
contained this ‘unpublished chapter,’ which I think is the most crucial in the
entire book. Wiedemer gave Newsmax permission to share this chapter with our
readers.”
With daily economic forecasts projecting doom and gloom and no recovery in
sight, people need to learn how to survive economic disaster. During the past
quarter alone, unemployment skyrocketed to 9 percent. Inflation continues to
soar and the U.S. national debt crisis is still on the fence between raising
the debt ceiling or massive budget cuts, with no resolution in sight.
During Newsmax’s Aftershock Survival Summit video, Wiedemer
discusses the dire consequences of Washington, D.C.’s, bipartisan, multi-decade
“borrow-and-spend” agenda. He also explores the inflation nightmare, the
impending plunge in home prices, the looming collapse of the stock and bond
markets, a possible historic surge in unemployment, and how to survive what
life in America will be like in the days of the “Aftershock.”
Despite appearances, Aftershock is not a book with the singular intention of
scaring the heck out of people. Although it does provide a harsh outlook for
the economic future of America, the true value lies in the wealth of investment
tips, analyses, predictions, budget advice, and sound economic guidance that
people can act on immediately, offering a ray of recovery hope and an
indispensable blueprint for life after shock…’
Read more on Newsmax.com: ‘Aftershock’ Book Predicts Economic Disaster Amid
Controversy
Dow plunges
more than 634 points after downgrade
Stocks plunge worldwide -- Dow's 6th-worst loss
Global
policy actions fail to halt stocks rout
[video]
Expect More Selling Tomorrow at
TheStreet.com
1000 Point Drop in DOW – Is Your Portfolio Ready? | Chuck's Blog
With
No Bailouts Coming, US Must Take Its Medicine at Minyanville
Warren
Buffett's Empire Is Declared Unsafe at
Forbes
Did Soros Bet $1 Billion on U.S. downgrade in July? Finance Examiner | In late July, a mystery investor or hedge fund made a nearly $1 Billion bet that the US would lose their AAA credit rating.
Dollar
to Be ‘Discarded’ by World: China Rating Agency CNBC | Greenback’s status as the
world’s reserve currency set to wane.
Wall Street Tumbles FOXBusiness | The markets fell
sharply in choppy trading Monday morning after Standard & Poor’s downgrade.
Markets Mayhem: Asia stocks plummet on US rating downgrade RT | Asian stocks tumbled early on Monday, kicking of what is a string of torrid trading around the globe.
Despite
pledges from world leaders, global markets continue to fall Washington Post
| Stock markets in Europe and Asia continued a bitter string of declines
Monday.
Muni
Market Prepares For “Hundreds And Hundreds” Of Downgrades Zero Hedge |
“There will be hundreds and hundreds of municipal downgrades, which will not do
well to bolster investor confidence.”
No
Chance of Default, US Can Print Money: Greenspan CNBC | Former Federal
Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default
Train
Reading: Late Edition Gongloff ‘Corporate executives
get more pessimistic — Real Time Economics
Maybe the stock slump
isn’t about the downgrade at all — The Atlantic
Fed meeting walkup — Calculated Risk
Downgrade mania hits the
filings — Footnoted
The downgrade’s place in
the left-right war — Slate’
Fear
Index VIX Up 50%, And In Backwardation, Confirms Fully Fledged Bear Market at Forbes
Is the Worst Over
or Just Beginning? ETFguide Simon Maierhofer, August
8, 2011,
The last 12 trading days
have erased more than one year of gains. One can't help but think about
September/October 2008 when the Dow Jones (DJI: ^DJI) lost nearly 4,000 points,
the S&P (SNP: ^GSPC) 400 points, and the Nasdaq (Nasdaq: ^IXIC) 1000
points.
Over the past two weeks
the Dow has lost 'only' 1,600 points. Does that mean the worst is over or is
the worst still to come?
LONG-TERM OUTLOOK
A number of bearish
events happened last week:
1) The Dow Jones broke
through a trend line that has provided support on four occasions since the
March 2009 low (see chart below).
2) Dow Theory registered
a bearish non-confirmation when the transports hit a new high on July 7, while
the Industrial Average was unable to beat its May 2 high.
3) The S&P broke
below the neckline of a bearish head and shoulders formation.
https://www.etfguide.com//contributor/UserFiles/8/Image/aaa%20dj%208%208%2011.gif
In addition to the
above, the S&P has been laboring on a multi-decade bearish M-pattern. The
upper trend line of this bearish M pattern sliced through 1,377 in April.
Important Fibonacci resistance was at 1,369.
This M pattern looked so
esthetically pleasing (if you can use that term in connection with technical
analysis) that the ETF Profit Strategy Newsletter stated on March 6: 'A major
market top in the 1,369 - 1,382 range would certainly create a technical
picture for the history books.'
On April 3, the
Newsletter confirmed this outlook: 'In terms of resistance levels, the 1,369 -
1,382 range is a strong candidate for a reversal of potentially historic
proportions.'
The ETF Profit Strategy
Newsletter for August (released on July 15) provided more insight about the
market's post-peak performance: 'The next bigger profit opportunity will be to
the down side. A close below this year's low at 1,249 would probably mean that
a major market top has been reached and should minimally lead to 1,229 or
1,170.'
The deterioration in
U.S. markets along with emerging markets (NYSEArca: EFA - News) and (NYSEArca: EEM - News), wasn't just a fluke
technical constellation. It was a man made (with 'man' I mean Fed) disaster.
Also on July 15, the
Newsletter explained that: 'the Fed fueled a QE bubble to combat the damage
left behind by the previous bubbles. Once punctured, bubbles tend to deflate
quickly. We still anticipate a decline towards x,xxx (reserved for subscribers)
starting in 2011-2012.
SHORT-TERM OUTLOOK
Those who don't learn
from history are destined to repeat it. I'm not a big fan of cliches, but
investors do well not to ignore certain historic patterns.
It's said that the
difference between a smart and a wise person is simply how they learn: A smart
person learns from his own mistakes. A wise person learns from the mistakes of
others. Who does not want to be wise and learn from history?
The July 16 ETF Profit
Strategy update featured a chart of the 2007 market top and stated: 'There is a
striking similarity between the 2007 top and now. There is a similar trend line
and a triple top above the trend line. A break below that trend line could be a
precursor of bad things. Next week the trend line will be at about 1,262.'
As expected the S&P
stair-stepped lower to 1,262 and fell apart as soon as it dropped below 1,262.
We all know that history may not repeat itself, but it often rhymes.
Courtesy of the
2007/2008 decline we now have a script. Let's see how much lip the actors will
add during the live performance (I.e. the downgrade of U.S. debt by Standard
& Poor's).
As per the script we can
expect a low that dips beneath last week's low, followed by an eventual rally
that will test the trend line that provided support previously.
DEALING WITH THE
UNEXPECTED
Will there be QE3? If
so, how will QE3 affect stocks? We don't know. What we do know is that the
world's industrial powers are already hoping that Europe's central bank will
engage in aggressive bond buying (Europe's version of QE3).
What we also know is
that every bounce in the stock market is now considered a dead cat bounce
unless it carries above major resistance.
SHOULD YOU RUSH
INTO GOLD
Gold (NYSEArca: GLD - News) has just spiked above a
trend line that goes back as far as 2006. Gold (NYSEArca: IAU - News) is at a new all-time high,
so aside from this trend line there was no overhead resistance.
However, gold is
stretched and is susceptible to a potentially powerful decline. Such a decline
could be triggered by a drop below the trend line. In fact, that's exactly what
happened at the end of April. It's always smart to have some exposure to
precious metals, but it's also prudent to have a plan B if things go sour.
SUMMARY
Most investors should be
in cash now. The ETF Profit Strategy Newsletter recommended squaring all long
positions at S&P 1,340 on July 7. If you haven't had a chance to get out in
time, the situation is a bit trickier…’
JP
Morgan Joins Goldman Sachs In Upping Gold Forecasts Aug 8th, 2011 12:54 by News
(The Wall Street Journal) — JP Morgan (JPM) has become the latest bank
to up its forecast for spot gold prices, hiking its estimates by a whopping 39%
and predicting the precious metal to reach at least $2,500 a troy ounce by the end of the year.
The
Nixon Shock: How Nixon stopped backing the dollar with gold and changed global
finance Aug 8th, 2011 12:45 by News (BusinessWeek) —
‘ “Inauguration Day was cloudy, grim,” wrote
Arthur Burns in his diary on Jan. 20, 1969. As he watched President-elect
Richard Nixon, Burns—an immigrant from Galicia, the son of a housepainter who
had risen to become the foremost expert on U.S. economic cycles and chief
economist to Dwight Eisenhower—saw a man with “a look of exaltation about him.”
It was not a feeling Burns shared. “I would have felt better if his head were
bowed and his body trembled some.”
…By the time Nixon took
office, officials knew they were sitting
on a powder keg.
…First, America would
stop converting dollars to gold. Second, to combat the potential inflationary
effects, wages and prices would be frozen for 90 days. And third, the U.S.
would impose an import surcharge of 10 percent. Connally’s idea was to use the
surcharge as a cudgel, to pressure other countries to renegotiate their
exchange rates.
…Connally brilliantly
packaged the program not as America abandoning its commitment to the gold
standard but as America taking charge. He
turned the dollar’s collapse, which could have appeared shameful, into a moment
of hubris. [source]
PG View: This article provides important historical context,
as arguably it was the “hubris” of ending the dollar’s convertibility to gold
that ultimately led to Friday’s downgrade of US sovereign debt. ’
For
first time, U.S. credit rating cut from AAA Standard & Poor’s announces
that it has downgraded U.S. government debt to AA+, dealing a huge symbolic
blow to the world’s economic superpower in what was a sharply worded critique
of the American political system. (Washington Post) [ Come on! Let’s get real
here! Symbolic? If it were only that. If it were only the american political
system, there’d at least be a plausible reason for hope, albeit futile even at
that. Indeed, pervasively corrupt, defacto bankrupt america, literally causing
destruction domestically and internationally, is a testament to the failure of
the american system generally, or more specifically what it has devolved into.
Whatever america was and purports to be, it certainly doesn’t take a PhD in
Poli Sci to know, ‘it ain’t that no more’. Moreover, the ‘genie’s out of the
bottle’ and try as they may, like ‘trying to put toothpaste back in the tube’,
or ‘unringing the bell’, perceptions of america will never be the same in the
most negative but realistic and factual sense; that is, beyond the propaganda,
efforts at censorship, and spin. Those ‘propaganda dogs don’t hunt no more.’ I
can further say that in america, by close observation and direct experience
(with more than sufficient representative sampling), I’ve seen and experienced
the worst of human nature; behavior so egregious so as to defy any known norms
of civilized behavior. Quite simply, there is no excuse for america! Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is certainly
being felt globally as well as domestically and has little to recommend it. My
own direct experience with the region(s) (particularly new jersey, new york,
virginia, connecticut, california) carves out no exception for the prevalence
of the worst of human nature; which is now collectively and pervasively
americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job...
GALLUP
SHOCK: 'REPUBLICAN' BEATS OBAMA BY 8%
APPROVE:
42%
Return
of Mass Layoffs a Grim Sign...
DOWNGRADED!
DETAILS
[.PDF FILE]
FLASHBACK:
'No risk' USA will lose its top credit rating, says Treasury's Geithner … [
Well, we all know the powers of foresight possessed by ‘no-recession-helicopter
ben’ and tiny tim geithner ] ...
Cautious
relief amid modest job growth (Washington Post) [ What
Recovery? Forbes ‘…we can’t call this a recovery. There’s no
reason to celebrate when a job report was better than expected. Why? Because
the expectation was abysmal to begin with. And while we’re at it, we can’t
ignore increasing sovereign debt problems in Europe…’ Famed economist
predicts economic calamity in 2012. See the evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! This suckers’ rally is, along with any up move /
strength, a great opportunity to sell / take profits since there’s much, much
worse to come! Watch for
fake gov’t data / reports owing to political desperation! Why
You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The
market is building momentum to the downside’.
Wall Street
closes worst week since '08 with wild day NEW YORK (Reuters) S&P
on U.S. downgrade: Debt pact 'falls short' - Reuters S&P
downgrades US credit rating from AAA S&P
Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet ‘Top
3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet
1) Japan and Europe 2) Unemployment.3) Capital goods - billions of
dollars in lost revenue. Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude
To Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis… My work shows that “the new
recession has started.”… Over the past 33 years, we have called the start of
every recession, often on the exact month, or within one month, of the official
start as determined one year later by the official arbiter of recession, the
National Bureau of Economic Research (NBER)… However, inflation is far
understated for political reasons. Currently, the GDP deflator is 1.8%, which
hardly reflects the true rise in prices. Therefore, what is counted as
“growth,” is actually price increases. Actual inflation, according to free
market economists who calculate inflation as it was done in 1980 before the
politician re-engineered it, is now more than 11%. Using that to adjust GDP for
inflation, would show that the economy is now in a very sharp
contraction…’FLASHBACK HERE: Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [
He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The
5-year high in the level of insider corporate stock sales is telling. At 565
sells for every 1 buy, it’s never been higher…’
Ezra
Klein: Let’s just call it the Great Contraction (Washington Post) [ At this point you can call
it whatever you want; it matters not. Reason, the frauds on wall street have
already gotten the computerized high-frequency ‘churn-and-earn’ benefit of
ultimately taxpayers funds, whether in the form of bailouts, QE’s, no pros of
their huge frauds accomplis, and other crimes / thefts / frauds / schemes yet
unknown, hopefully to be uncovered. I kind of like the term ‘great contraction’
as opposed to ‘potential double-dip’, ‘weak recovery’, or other obfuscating,
disingenuous, or outright fraudulent terminology, etc., inasmuch as it at least
implies an ongoing economic decline that I believe is more properly classified
as a great depression masked by a self-destructive, insurmountable debt
incurrance that now has gone beyond the ‘point of no return’ and is now a
problem so enormous so as to be unsolvable of itself. Even assuming, arguendo,
the dual recession scenario, I like Burt Dohmen’s (courtesy of Forbes) analysis
pointing to price increases and the use of an artificially low inflation
numbers (as deflators) by the government to account for the ‘weak’ (spurious)
recovery which in real terms was a sharp contraction. { Faisal Humayun, infra, also points to similar artifice when measuring
stock market gains against hard assets, ie., precious metals, viz., gold which
reveals the market, ie., DOW, has crashed 78% over a 10 year period. } The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! This suckers’ rally is,
along with any up move / strength, a great opportunity to sell / take profits
since there’s much, much worse to come! Italy
unveils plan to calm fears of escalating crisis (Washington Post) [ Yeah, dem piigs were back
in the news. ’ Dem PIIGS still got
problems. Europe’s
debt crisis threatens Italy (WP) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario [ Whew! Close
call! There you go. Nothing to worry about now that wobama’s got a boehner … so
not to be so hard on them; if pelosi says it, it must be true … Not!
…Pervasively corrupt, defacto bankrupt america, they, she look pretty greecey
to me. After all, if the same’s wobama’s ‘far-reaching plan on debt’, we all
know ‘wobama the b’ (for b***s***) is total b***s*** which means like Greecey
PIIGS they’ll be back to the trough for more … slop … py. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ Famed economist predicts economic calamity in 2012. See the
evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to
political desperation! Why
You Shouldn't Buy Into This Plunge Forbes/O'Neil‘The
market is building momentum to the downside’.
Wall Street
closes worst week since '08 with wild day
A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.] While
Washington Fiddled The Economy Burned at
Forbes [ Oh come on! Let’s get real here! The economy was already burning (see
infra), Washington notwithstanding! ICheck out this inflation calculator:
http://www.albertpeia.com/inflationcalculator.htm
Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif
National / World
FLASHBACK:
Eyewitness to OBL Raid Saw Helicopter Explode (TRANSCRIPT) [ As indicated
on this albertpeia.com website, I didn’t buy the administration’s desperate and
politically opportunist Osama event and still don’t buy it; and further, I
believe this! ]Veterans Today
| TRANSCRIPT of critical interview with Pakistani eyewitness to Bin Laden raid.
Is this the key to SEAL Team 6′s demise?
“Bin
Laden” Heroes Probably Murderered to Keep Them Quiet Gordon Duff
Veterans
Today August 7, 2011 | Some Possibly Killed in Abbottabad Helicopter Crash
Months Before. [ As indicated on this albertpeia.com website, I didn’t buy the
administration’s desperate and politically opportunist Osama event and still
don’t buy it; and further, I believe this! ] Today 31 NATO troops, 20 of them
Navy Seals from the Osama bin Laden operation died in what is reported as a
helicopter crash in Afghanistan.
‘The chance of this
story being true is almost nil. The chances of this being a staged coverup is
over 80%. We believe these people were murdered to silence them. This is why.
We have solid
information on two areas:
1. Osama bin Laden died in 2001 as an active CIA employee and
his body was recovered in Afghanistan and taken to “the sand box.” We were told
it was frozen. We have so much verification from this, CIA, ISI, US military
and top officials. I have a direct confirmation from Bin Laden’s CIA handler
who I grilled mercilessly on this.
2. The Abbottabad operation involved numerous American deaths,
witnessed, bodies all over, a helicopter crash. (suppressed translated TV
interview below) These bodies were recovered by land vehicle from Islamabad and
there was NO “successful” bin Laden operation of any kind. There was and has
been a CIA safe house in Abbotabad where terror suspects were stored for years.
This gave the US several
areas of severe vulnerability. Generally, Navy Seals are the best people in the
world at keeping their mouths shut, these are real team players, as the term
“Seal Team” belies.
We at VT were informed that the bin Laden operation was staged
at this time, a theatrical farce, to cover the exit of Secretary Gates, the
move by former CIA Director Leon Panetta into the DOD as Secretary of Defense
and to stem any heroic claims by new CIA Director Petraeus of killing the long
dead Osama bin Laden, the long frozen CIA operative.
Petraeus is a possible
presidential contender and had to be denied this “gift from heaven,” a fast
track to the oval office for sure.
Again, I remind you, I
went over specific meetings on bin Laden with his handlers, getting every last
detail. I have watched what has gone on, the continuing need to vilify a long
dead top CIA operative to provide residual cover for the Bush administration….
The reason? Bush and his
cronies are all facing charges of war crimes, not just in minor jurisdictions
but heading for the ICC, putting them on the dock with Gaddafi ( a far less
harmful character).
As for the timing of
this incident? This we will work on. What we can easily surmise is that some of
the dead have been dead since their bodies were taken away from the helicopter
crash site in Abbotabad.
Who would order such a
thing? We are going to have to wait but we are going to find out. However, we
expected this, the timing is exactly as predicted. Read
full article ‘
Hedge
Fund Manager Kyle Bass: “EU Bailout Will Cost France And Maybe Even Germany
Their AAA Ratings” Daily Bail
| The European Central Bank’s bailout of Italian and Spanish debt will impact
AAA ratings.
Post-Fukushima,
Toyota now No.3 in global vehicle sales InAutoNews | Production disruptions caused by the March
earthquake and tsunami push back global sales.
German
Government Thinks Italy Too Big For Euro Rescue Fund Dow Jones | Germany’s government
thinks Italy is too big for Europe’s rescue fund to save.
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see
infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5 pages)
[ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as
fbicorrespondencereyes.htm . With regard to
the calls to the FBI’s LA and New Haven, CT offices: There was one call to the
LA office and I was referred to the Long Beach, CA office where I personally
met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of
the money laundering which he confirmed as indicative of same (he was transferred
from said office within approximately a month of said meeting and his location
was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron
Barndollar and we remained in touch for in excess of a decade until he abruptly
retired (our last conversation prior to his retirement related to the case and
parenthetically, Rudy Giuliani whose father I stated had been an enforcer for
the mob to which he registered disbelief and requested I prove it, which I did
– he served 12 years in prison, aggravated assault/manslaughter? – and no,
there is no Chinese wall of separation – Andrew Maloney’s the one that
prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance
/ surety coverage and neither LA, nor creditors, nor I should continue to have
been damaged by this brazened corrupt and illegal scenario, which should be
resolved in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th
Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell
phone)
(213) 622-3745 (listed
land line but there are unresolved problems with the line, computer connection
may be the reason but I hesitate to chance greater non-performance / worsening
by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651
-magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
S&P
downgrades US credit rating from AAA The United States has lost its sterling credit rating
from Standard & Poor's.
S&P
Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet August 5, 2011,
‘Standard & Poor’s
is out with an official
downgrade of the U.S. credit rating:
• We have lowered our
long-term sovereign credit rating on the United States of America to ‘AA+’ from
‘AAA’ and affirmed the ‘A-1+’ short-term rating.
• We have also removed
both the short- and long-term ratings from CreditWatch negative.
• The downgrade reflects
our opinion that the fiscal consolidation plan that Congress and the Administration
recently agreed to falls short of what, in our view, would be necessary to
stabilize the government’s medium-term debt dynamics.
• More broadly, the
downgrade reflects our view that the effectiveness, stability, and
predictability of American policymaking and political institutions have
weakened at a time of ongoing fiscal and economic challenges to a degree more
than we envisioned when we assigned a negative outlook to the rating on April
18, 2011.
• Since then, we have
changed our view of the difficulties in bridging the gulf between the political
parties over fiscal policy, which makes us pessimistic about the capacity of
Congress and the Administration to be able to leverage their agreement this
week into a broader fiscal consolidation plan that stabilizes the government’s
debt dynamics any time soon.
• The outlook on the
long-term rating is negative. We could lower the long-term rating to ‘AA’
within the next two years if we see that less reduction in spending than agreed
to, higher interest rates, or new fiscal pressures during the period result in
a higher general government debt trajectory than we currently assume in our
base case.
Investing Insights: Is
the Debt Ceiling Raise Bullish for Gold?’
S&P
on U.S. downgrade: Debt pact 'falls short' - Reuters
Gene
Sperling Talks Jobs: Good, But Not Good Enough - Stacy Curtin
Down 10% in 10
Days - How Much Worse Can it Get? ETFguide
What
Recovery? Forbes ‘…we can’t call this a recovery. There’s no
reason to celebrate when a job report was better than expected. Why? Because
the expectation was abysmal to begin with. And while we’re at it, we can’t
ignore increasing sovereign debt problems in Europe…’
Raising
The Debt Ceiling May Throw A Wrench Into The Presidential Cycle For Stocks Forbes
Top
3 Reasons Markets Didn’t Know What To Do Wall St. Cheat Sheet ‘Markets closed mixed on Wall
Street today: Dow +0.53 , S&P -0.07% , Nasdaq -0.94% , Oil +0.51% , Gold
+0.22% .
On the commodities
front, Oil climbed to $87.07. Precious metals were mixed, with Gold climbing to
$1,662.70 an ounce and Silver down 2.83% to $38.32 an ounce.
Don’t Miss: How
Does Yesterday’s Stock Market Crash Compare to the Worst Crashes in History?
Today’s markets were
mixed because:
1) Jobs report. This
morning’s Labor
Department report showed the U.S. economy adding 117,000 jobs in July, well
above projections of 75,000 and enough to push down the unemployment rate from
9.2% to 9.1%. The report follows yesterday’s news that initial unemployment
claims in the last week of July fell to 400,000, continuing a downward trend.
However, the news proved unable to prop up the markets, which quickly began to
sell-off.
2 ) Italy. The euro
gained on news that Italy will speed up its fiscal reform consolidation
program, which will include a balanced budget rule, and the Dow followed,
rising as high as 1.01% in a mid-day rally. Furthermore, the European Central
Bank agreed to buy Italian debt if the country’s government could expedite the
institution of its reform program, and reports have the ECB potentially buying
Spanish bonds as well. The news takes a lot of pressure off the two largest
at-risk economies in the euro zone.
3) Uncertainty. It
certainly has been a volatile day of trading, with markets starting high,
falling quickly, then reversing a few more times to end the day relatively
flat. With big earners like Kraft and Procter & Gamble propping up the Dow
while financials like Bank of America and JPMorgan pulled back, the markets
continually flip-flopped faster than you can say ‘recession’. It was as if
investors were uncertain as to how to interpret the day’s economic news, or
maybe it was just that they began focusing on the individual merits of
different stocks rather than the broader economic data that so often turns out
to be misleading.
BONUS: Here’s What a Jobless Recovery Looks Like ‘
S&P
Says Uncle Sam Is No Longer Bulletproof Forbes
Train
Reading: New Scary Timeat The Wall
Street Journal Mark
Gongloff ‘Stress indicators don’t signal 2008 repeat, but the risks of one
remain — Heard on the Street
Bottoms rarely look like
Thursday’s rout — Mark Hulbert
Be afraid — Bethany McLean
A contagion of bad ideas
— Joseph Stiglitz
That was the inflation
scare that was — Paul Krugman
Labor Department thinks
it may have spotted job in strip mall in Iowa — The Onion
Bad money thing make new
scary time — The Daily Mash
Stock
market plunge: Not just a rich guy problem
Austerity
Collides With Demands for Job Growth Bloomberg
| Bernanke says cuts in spending and jobs by state and local governments are
among the impediments to economic growth.
Gold is the True
Reserve Currency Euro Pacific
| A perverse, but deeply entrenched, mindset surrounds the reliance upon the
U.S. Dollar as the global reserve.
Obama
Blames Arab Springs And Tsunami In Japan For Slower Growth Real Clear Politics | Cites
earthquake and tsunami in Japan as reasons that halted economic growth in the
United States and worldwide. [ If it was only that, there’d be hope! He, his
crew, the fed, the unprosecuted frauds on wall street, etc., should be looking
in the mirror as they cite reasons for economic / financial crisis / debacle!
How does anyone believe anything ‘wobama the b’ (for b***s***) says? ]
Just
58% of work-age Americans have jobs, lowest since July 1983 Bloomberg | The share of the eligible
population holding a job declined to 58.1 percent, the lowest since July 1983.
Global
Markets Tumble Amid Economic Fears Sky News | Markets around the world have
fallen further as London’s leading shares index suffered more heavy losses this
morning.
Gold is the True
Reserve Currency Euro Pacific | The reliance upon the U.S. dollar as the
world’s reserve currency and “safe haven” asset has created a perverse, but
deeply entrenched, mindset among global investors.
Marc
Faber: “Next Week We Will See If Bernanke Is A True Money Printer Or Just An
Amateur” Zero Hedge | “The whole world is mad” – so says Marc Faber.
Markets
plummet on global economic fears Fears that the global economy could be
slipping back toward recession sent markets plummeting, with worldwide economic
and financial problems fueling a vicious cycle that risks spiraling beyond
control of governments. (Washington Post) [ Global economic fears? How ‘bout
global economic realities! Could be slipping back toward recession? How ‘bout
we’re already in a recession (actually a depression) exacerbated by the
taxpayer fund obfuscation that has benefited the frauds on wall street only. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! This is, along with any up
move / strength, a great opportunity to sell / take profits since there’s much,
much worse to come! Famed economist predicts economic calamity in 2012. See the
evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to
political desperation! Why
You Shouldn't Buy Into This Plunge at
Forbes William
Scott O'Neil ‘The market is building momentum to the downside’. (from Wall St. Cheat Sheet, see article infra) ‘Top
3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet
1) Japan and Europe . Japan
and Switzerland made moves to tame their skyrocketing currencies 2)
Unemployment. Initial
jobless claims last week fell slightly to 400,000, but have been unable to
break lower in 17 consecutive weeks 3) Capital goods. With the Pentagon
facing huge budget cuts in 2012, the part of the capital goods sector
catering to high profile defense contracts could be looking at billions of
dollars in lost revenue. Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude
To Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis… My work shows that “the new
recession has started.”… Over the past 33 years, we have called the start of
every recession, often on the exact month, or within one month, of the official
start as determined one year later by the official arbiter of recession, the
National Bureau of Economic Research (NBER)… However, inflation is far
understated for political reasons. Currently, the GDP deflator is 1.8%, which
hardly reflects the true rise in prices. Therefore, what is counted as
“growth,” is actually price increases. Actual inflation, according to free
market economists who calculate inflation as it was done in 1980 before the
politician re-engineered it, is now more than 11%. Using that to adjust GDP for
inflation, would show that the economy is now in a very sharp contraction…’FLASHBACK HERE: Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [
He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher.
A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator infra – and
that’s just the government (inflation) numbers … reality is much worse!}
Meanwhile, the frauds on wall street are churnin’ and earnin’ like never before
at lightning computerized speeds enabling the high-frequency trades that are
commissioned in unprecedented large volumes; a big net negative in real
economic terms.] While
Washington Fiddled The Economy Burned at
Forbes [ Oh come on! Let’s get real here! The economy was already burning (see
infra)
Check out this inflation calculator:
http://www.albertpeia.com/inflationcalculator.htm
Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see
infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5
pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as
fbicorrespondencereyes.htm . With regard to
the calls to the FBI’s LA and New Haven, CT offices: There was one call to the
LA office and I was referred to the Long Beach, CA office where I personally
met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of
the money laundering which he confirmed as indicative of same (he was
transferred from said office within approximately a month of said meeting and
his location was not disclosed to me upon inquiry). The matter was assigned to
FBI Agent Ron Barndollar and we remained in touch for in excess of a decade
until he abruptly retired (our last conversation prior to his retirement
related to the case and parenthetically, Rudy Giuliani whose father I stated had
been an enforcer for the mob to which he registered disbelief and requested I
prove it, which I did – he served 12 years in prison, aggravated
assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew
Maloney’s the one that prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable
insurance / surety coverage and neither LA, nor creditors, nor I should
continue to have been damaged by this brazened corrupt and illegal scenario,
which should be resolved in accordance with the meaningful rules of law
apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th
Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell
phone)
(213) 622-3745 (listed
land line but there are unresolved problems with the line, computer connection
may be the reason but I hesitate to chance greater non-performance / worsening
by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651
-magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
National / World
Panetta
warns against defense cuts Defense
secretary sees dire consequences if the Pentagon has to make cuts beyond $400B
in savings planned. (Washington Post) [ What? Panetta worry? Heck no! AKA ‘the
pinyata’, panetta’s from the second-worst managed state in the nation (California
The Worst Run State in
America? Not California 24/7 Wall Street Study {California’s #2} Oct. 8 2010 ‘Kentucky is worst run state in the nation) and
works for the pervasively corrupt, defact bankrupt american government. Where’s
Alfred E. Newman when you need him? Doesn’t panetta seem out of place anywhere
but new york / new jersey? That ‘displaced italian’ effect; kind of like a
‘fish out of water’. Lobbyists
gear up after debt deal Facing future cuts, the health-care and defense
industries are preparing to put up a fight. (Washington Post) [ That’s right!
They’re not taking this lying down in bed with a bunch of corrupt politicians.
Their gambit … they’re now opting for their own paper dollar printing presses
($100 bills at that, thank you very much). Well, such is not original in
pervasively corrupt, defacto bankrupt america, and Washington particularly;
it’s happening all the time, even as we speak / write this very moment. After
all, say they, when you’re defacto bankrupt / insolvent, more or less
bankrupt/insolvent’s a distinction without a significant difference. They want
their ‘piece of the heart’ of the american dream … Mapping
the Myths of the U.S. Economy - Stacy
Curtin ‘In The Real State of America
Atlas: Mapping the Myths and Truths of the United States, authors Cynthia Enloe and Joni Seager paint a vivid
picture of life in the U.S., using a series of charts, graphics and short
essays that cover almost every aspect of the nation's economy and society as a
whole.
Not only do they give
state-by-state comparisons, they show how the U.S. measures up to the rest of
the world in areas such as health care, housing and defense. But while
analyzing what it's really like to live in the U.S. today, they also uncovered
a few "myths and truths" as the title of the book suggests.
Enloe and Seager joined
The Daily Ticker's Aaron Task to share three of the most surprising misconceptions
they uncovered.
#1 Land of
Homeowners
The dream of owning a
home is actually more the reality in other countries. In the book, the authors
point to the most recent data, which show only 68% of Americans owned their
home in 2002, compared with 92% in Hungry, 84% in Mexico, 72% in the U.K. and
71% in Australia.
"One of the things
that is a cherished notion about America is we are a nation of homeowners, and
homeownership has long been seen as kind of the bedrock of the American
dream," says Seager. "I think the current economic crisis and the
housing crisis is really shaking that American cherished view of ourselves as
having easy access to homeownership."
This is evident in
another stat laid out in the book, which shows 83% of people agreed that buying
a home was a safe investment in 2003, compared with 70% in 2010. (See: Why
I Am Never Going to Own a Home Again)
#2 Land of Opportunity
Just like the ideal of
owning a home, opportunity in this country is now also on the brink.
"Opportunity in
this country means a chance for an education … [and] a chance for a decent job
that allows you to have a decent life," says Enloe, who points to two key
factors that hinder people making it here in America.
#3 Land of Givers
While the U.S. does give
more money in foreign aid than any other country in the world, as a percentage
of GDP it falls way behind many other nations.
Whereas Sweden gives
almost 1% of its GDP in 2008, the U.S. gave 0.19%.
"I think it really
should shake Americans' self-perception of two things," says Enloe.
"[One] is cutting foreign aid actually the ticket to balancing the budget,
but also how do we shape up compared to other countries' generosity?" ’
Euro-zone
pinched by slow growth The headline debate is about sovereign debt. But
Europe’s real crisis is why half a continent seems stuck in neutral.
(Washington Post) [ Pinch? Yeah? Sounds like a plan … see if they’re alive and
still breathin’…Yeah, wake ‘em up by all means from their somnambulant trance
that has predisposed them to the destructive, mindless, self-destructive,
self-defeating suggestions of their ‘svengali’, aka pervasively corrupt,
defacto bankrupt, war crimes nation america. Sadly for them, so weak-minded are
they, it took not much by way of prodding to get them to do and go along with
the wrong thing. In
Europe, the debt crisis only intensifies Italy and Spain struggle to
contain escalating panic over whether they can pay their bills. The trouble
comes amid more signs that European economies are rapidly slowing (Washington Post) [ Wow! This is a tough one.
Another mystery for the ages. Time to call in an expert to get to the bottom of
this and explain what’s comin’ down. Sounds like a job for ….. Rosanne Rosanna Dana formerly of SNL fame and as her mama
always used to say, which is also her hypothesis, ‘it’s always somethin’ … but
unfortunately, that somethin’ is not necessarily what they say it is. Then there’s Simon Maierhofer who posits: ‘It seems like the European Union and U.S. government are
stuck in a never ending game of Whac-A-Mole. It seems like more moles are
popping up more quickly, needing more force to be subdued (ironically the moles
come back just as the problems do) 3 Reasons Why This Summer Could Get Ugly Simon Maierhofer, July 29, 2011 …
’ Dem PIIGS still got
problems. Europe’s
debt crisis threatens Italy (Washington Post) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop …
py. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ Moody's
puts U.S. ratings on review for downgrade Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.).
The
economy stabilizes into a crisis Ezra Klein
The market is diving because of forces Washington can’t control.
(Washington Post) [ Mr. Klein’s mind’s in the right place … but he’s just not
quite there. Indeed, the market is falling. Such inevitably occurs when said
market’s substantially over-priced, over-valued. Indeed, given the high levels
of tax-payer funding by way of bailouts, QE’s, no prosecutions, etc., the computerized, programmed high-frequency
churn-and-earn frauds, much like their ponzi cousins invariably come crashing
down because they’re just not worth what they’ve been fraudulently said to be
worth. The value’s just not there. But, falling because of forces Washington
can’t control? Woe! What’s this? Washington’s now communism central? Truth be
told, there are things that Washington could have done; but, despite their
rhetoric, had neither the courage nor will to do so; viz., prosecutions of
these huge frauds that have continued unabated. So what are these mysterious
forces referenced by Mr. Klein? Basic economic and financial fundamentals which
through proper analysis leads to a proper valuation of any asset, but
particularly given the ubiquity of and predispositon toward fraud in america,
paper assets, ie., stocks, bonds, derivatives, etc.? No. Not all in the
government are without understanding of these ‘forces’; yet, a conscious
decision for ‘going along to get along’ has been made at nearly all levels with
disastrous results which we are seeing. Nothing short of criminal can be said
to be the unsaid reason for the inevitable collapse. The value’s just not
there, beyond the obfuscation, spin, lies, ‘short-end money’, etc.. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! This is, along with any up
move / strength, a great opportunity to sell / take profits since there’s much,
much worse to come! Famed economist predicts economic calamity in 2012. See the
evidence.Newsmax http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch for fake gov’t data / reports owing to
political desperation! Why
You Shouldn't Buy Into This Plunge at
Forbes William
Scott O'Neil ‘The market is building momentum to the downside’. (from Wall St. Cheat Sheet, see article infra) ‘Top
3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet
1) Japan and Europe . Japan
and Switzerland made moves to tame their skyrocketing currencies 2)
Unemployment. Initial
jobless claims last week fell slightly to 400,000, but have been unable to
break lower in 17 consecutive weeks 3) Capital goods. With the Pentagon
facing huge budget cuts in 2012, the part of the capital goods sector
catering to high profile defense contracts could be looking at billions of
dollars in lost revenue. Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude
To Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis… My work shows that “the new
recession has started.”… Over the past 33 years, we have called the start of
every recession, often on the exact month, or within one month, of the official
start as determined one year later by the official arbiter of recession, the National
Bureau of Economic Research (NBER)… However, inflation is far understated for
political reasons. Currently, the GDP deflator is 1.8%, which hardly reflects
the true rise in prices. Therefore, what is counted as “growth,” is actually
price increases. Actual inflation, according to free market economists who
calculate inflation as it was done in 1980 before the politician re-engineered
it, is now more than 11%. Using that to adjust GDP for inflation, would show
that the economy is now in a very sharp contraction…’FLASHBACK
HERE: Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [
He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart‘
previous‘…1) Job cuts. Markets took a beating this morning after it was
announced that planned job
cuts in the U.S. climbed 59% year-over-year in July, and 60% over June’s
figures... 2 ) ISM service-sector report. Monday’s ISM
manufacturing report contributed to market losses on Monday, but today’s
report, though equally negative, didn’t quite have the same effect as markets
began to level out this afternoon. The ISM
service-sector index declined to 52.7% in July. The U.S. service sector
accounts for three-fourths of all economic activity, and employs four out of
every five U.S. workers , so a 0.5% decline speaks volumes about the state of
economic recovery…’ Factory orders for June fell by 0.8% (just because they say
the bad news isn’t as bad as expected does not make such bad news ‘rally
material’. Indeed, the huge ralleys based on now revised downward data never
seem to retrace that fake data induced stock surge based thereon. Service
sector growth slowest since 2010 Moody's
sets negative outlook on BNY, JPMorgan S&P
ends string of losses on tech rebound Tech rebound? Is this some kind of a joke? Tech up today? Absolute confirmation of dire
prospects worldwide since american tech is horrendous. Yet, sizzling ‘child’s
play’ is the order of the day and credit still must be given to those [ie.,
Steve Jobs-I’m truly glad he saved Apple, my first computer (apple IIc for word
processing / data based records / forms / templates / data which I interfaced
with an electric typewriter for letter quality)] who could (as he) identify
such novelties as the biggest over-priced / over-valued sensations since the
hoola hoop (hoopla hoops - which were pretty cheap and with some minor health
benefits to boot).Take this run-up as a gift based on fraudulent wall street b***s***
alone and take this opportunity to sell / take profits / ‘sell today if you
missed in may and then go away’! Nothing has been solved; maybe forestalled. Rout spells trouble for Wall Street / Moody's
confirms U.S. rating at Aaa, outlook negative / Chinese rating agency cuts U.S. debt again / Minyanville's T3
Daily Recap: Signed Debt Deal No Cure for Sickly Market / US auto industry
uneasy after weak July sales / Fitch Unimpressed
By Debt Deal, GDP; Markets Unimpressed By Fitch / US debt deal alone won't sustain AAA rating
/ Stocks now down for year as economic concerns grow
– AP The Daily Market Report Aug 1st, 2011 PG ‘Relief?
What Relief? http://www.usagold.com/cpmforum …Late
last night when party leaders and the President announced that they had reached
a bipartisan deal that would allow the debt ceiling to be raised, gold dropped
about 1%. Global stocks rallied in relief and briefly, ever so briefly, gold
was out of favor…CBO scores the package as accomplishing $2.1 trillion in
spending cuts over the next 10-years, the CBO baseline also has the deficit
rising $6.7 trillion over the same period. The premise apparently being that
we’re working our way to actual cutting by cutting to slow the pace of the
nation’s proliferate spending. In actuality — and as evidenced below — that CBO
baseline may prove to be way too optimistic. What really lit an intraday fire
under gold today was the big miss on US July ISM, which plunged to 50.9. The
market was expecting a modest downtick to 55.0 from 55.3 in June…’ The Truth About The Debt Deal: It’s Pretty Much Meaningless
Business Insider/ Come on! Who believes their pre-election year data, reports,
b***s***? There’s desperation in the air and like never before! One
commentator, Peter Shiff, to Frank Motek of 1070am Bus.Report references the
sham in Washington; and regardless, points to default by way of inflation,
further stating that the debt ceiling’s already been breached by borrowing.
Moreover, he additionally states that default is inevitable by way of
inflation; that the fed will be buying the evermore worthless american paper
(bonds) and creating/printing evermore worthless american dollars; that there’s
been a quid pro quo with at least one of the 3 (S&P, Moody’s, Fitch)
federal licensed rating agencies, viz., of reaffirming the u.s. AAA rating in
return for no prosecution surrounding their role in the S&P AAA rated
worthless (fraudulent, mortgage-backed, derivative) paper securities (fraud)
giving rise to the previous leg of this continuing, ongoing debacle / crisis.
He finally goes on to recommend non-u.s., non-dollar denominated assets,
precious metals, and alternate currencies. Initial unemployment claims rise to 418000 - Jul. 21, 2011
which bad news sparked wall street rally … what total b***s***. No budget deal,
celebrated Greek Plan – DEFAULT! … sounds like a plan!…, backward looking
earnings results … riiiiight! Watch Out: 2011 Looks A Lot Like The Market Top In 2007
at Forbes Sean Hanlon / Deficits And Stimulus Only Delay The Inevitable Collapse
Bob Chapman | America is insolvent and has been so for a long
time. US Is in Even Worse Shape Financially Than Greece: Gross When
adding in all of the money owed to cover future liabilities in entitlement
programs the US is actually in worse financial shape than Greece and other
debt-laden European countries, Pimco’s Bill Gross told CNBC Monday. Maierhofer: ‘USA INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456 trillion. Total
receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294
trillion.The 2011 federal budget is $3.7 trillion with a projected deficit
of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded obligations vary. Mary Meeker pegs the
shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to
be $75 trillion, while other estimates exceed $100 trillion (these amounts are
insurmountable) …’ Huge suckers’ rally to keep the suckers suckered in this
market based upon backward looking data discounted multiple times to the upside
(including the apple numbers as recently as last week on ‘leaked’ expectations
of ‘better than expected’, etc.), taxpayer funded QE results, and b***s***
alone. This is an especially great opportunity to sell / take profits since
there’s much, much worse to come! IT'S GOING TO HURT 'FOR LONG TIME TO COME' [
Says tiny tim geithner … thanks for the heads up tiny tim ‘God bless us everyone’! … As if we didn’t already know it / feel it! Dave's Daily 'If you can keep
interest rates this low this long, its inevitable cheap financing can allow
companies to start cobbling each other up. Further Ben's policies allow
companies like IBM to sell bonds at 1% and buy back shares with the proceeds
(total paper bubble-scam). POMO is occurring almost daily and
Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P Poised For
Dropoff, Says Initial Jobless Claims Forbes / Maureen Farrell ]
A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator infra – and
that’s just the government (inflation) numbers … reality is much worse!}
Meanwhile, the frauds on wall street are churnin’ and earnin’ like never before
at lightning computerized speeds enabling the high-frequency trades that are
commissioned in unprecedented large volumes; a big net negative in real
economic terms.] While
Washington Fiddled The Economy Burned at
Forbes [ Oh come on! Let’s get real here! The economy was already burning (see
infra), Washington notwithstanding! Indeed, the frauds on wall street with
those contraindicated paper stock computer programmed commissioned
churn-and-earn rallies would love for you to think it’s Washington only {that
aw shucks, coulda’ been clear sailin’ otherwise moment; but the reality is that
things are far more dire financially and economically than their window-dressed
scams would indicate, though washington’s no help, incompetent,
unknowledgeable, and ineffectual as they are (although fraudulent wall street,
aside from their consummate scammin’, is little better and probably overly
relied upon and light in those very areas one would expect to find profiency;
viz., finance and economics.) Most importantly, realize that if wobama’s
actions had not belied his words/campaign promises, the nation’s position,
though still ominous, would have been substantially improved.} ] Check out this inflation calculator:
http://www.albertpeia.com/inflationcalculator.htm
Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif
Top
3 Reasons Markets Erased the Year’s Gains Wall St. Cheat Sheet ‘August 4, 2011,
5:27 pm EDT Markets closed down on Wall Street today: Dow -4.31%,
S&P -4.79% , Nasdaq -5.07% , Oil -5.95% , Gold -0.80% .
On the commodities
front, Oil fell to $86.46. Precious metals also fell, with Gold down slightly
to $1,653.00 an ounce and Silver down 7.18% to $38.76 an ounce.
Don’t Miss: Mortgage
Rates Crash to Record Lows
Today’s markets were
down because:
1) Japan and Europe .
Both Japan
and Switzerland made moves to tame their skyrocketing currencies, which
devalued the safe-havens against a host of other currencies, including the U.S.
dollar. Then the European Central Bank decided to re-enter the bond market and
started buying up bonds, but not the Spanish and Italian bonds that are at the
center of the current sovereign debt crisis. Investors became acutely aware
today that, while the U.S. sovereign debt crisis is over, it’s still very real
in Europe. Furthermore, many once-thriving economies like Japan are now in the
depths of a recession. Even Chinese markets closed down Thursday.
2 ) Unemployment. Initial
jobless claims last week fell slightly to 400,000, but have been unable to
break lower in 17 consecutive weeks. For the unemployment rate to decrease and
the country to enjoy sustainable job growth, initial jobless claims need to
stay below 400,000 for a significant amount of time. The slowing improvement in
the job market has Americans worried about the state of the economy, and now
with the debt deal, unemployment benefits could be at risk. Americans are still
awaiting Friday’s official jobs report to see how many jobs the economy created
last month, and most accounts have the rate of growth just enough to keep the
unemployment rate steady at 9.2%, but the report could disappoint and push the
unemployment rate still higher.
3) Capital goods. With
the Pentagon
facing huge budget cuts in 2012, the part of the capital goods sector
catering to high profile defense contracts could be looking at billions of
dollars in lost revenue. All of the major aerospace and defense stocks have
been falling off today, including Honeywell , Boeing , Lockheed Martin , and
United Technologies Corp. .
BONUS: Why Did the Dow Crash 500 Points?’
US
Dollar Gains with Gold As Central Banks Intervene in Other Safe Havens - DailyFX
US
Dollar-Gold Correlations Rise As BoJ, SNB Intervenes - DailyFX
Recession
Almost Certain, Money Manager Says -
Henry Blodget
Why
You Shouldn't Buy Into This Plunge at
Forbes ‘The market is building momentum to the downside’ William Scott O'Neil
‘Since the Dow dropped more than 500 points Thursday the next round of
commentary will probably be that today is a “Capitulation” Day. That implies
that the market has bottomed and that now is a good time to buy stocks. In my
opinion, that’s completely wrong. The market is building momentum to the
downside. It’s pretty hard to stop a train going 100 miles per hour.The market
may have a reactionary bounce from here; after all, look at all those “great
values.” But will it be meaningful and lasting? How often have investors
started initiating positions and been burned just a few days later?A number of
factors still have me doubtful that we will get a significant uptrend soon. This
cycle started back in March of 2009, so we are late in the cycle. About 60
percent of the leaders since the beginning of the cycle are broken. The last
dozen of the very best are pulling back into their 50 day moving
averages…again.In fact, this reminds me of the kinds of stock chart patterns we
were seeing in the first failed rally attempt during the summer last year. You
usually don’t begin a real rally without at least decent looking patterns from
numerous market leaders, not defensive stocks. Earnings and sponsorship look
good, but those are lagging indicators that tend to look best at the top.Look
at the last two earnings seasons and how weak the market reaction was to such
strong numbers.Finally, I still believe it will be tough to gain traction without
resolving the numerous domestic and international issues lingering over the
market (“Is
the Bull Market Topping?”). The odds are that the inevitable reactionary
bounce is a short reprieve on the way further down.If the capitulation results
in a new and meaningful uptrend (and that is a big “if”), we will see that in
the charts. Sitting on the sidelines does not mean we will tune out and miss
the next rally. That’s why we are always on the lookout for new rallies to
begin, and we wait for confirmation on or after the fourth day of the start of
a new rally. We are looking for the rally to prove itself. The idea is to give
up the first few points as a confirmation of strength that the rally is real.If
you are trying to pick a bottom here, take a look at past cycles and see how
successful you’ve been at that game. A few may make it work but ask yourself,
what you are trying to gain? A few points here and there? Or are you trying to
build a portfolio of the best stocks that will result in a substantial year?’
Everything
You Need to Know About Today's Massive Market Plunge at Minyanville
Bearish
Expectations Haven't Been This Bad Since May 2010 at Forbes
Financial Whac-A-Mole
- Can the Mallet Bring Relief?ETFguide
Random
Thoughts: Will the Market Retest the 2009 Lows? at Minyanville ‘It's not your
fault, Will Hunting; it really is that tough out there.So says a trading
pal whose been doing this for a long time. "I'm hearing that a few big
funds are blowing up," he said, "which might be responsible for the
end-of-day action of late." I wouldn't be surprised; when
margins call and redemptions sing, they tend to do so for a lot longer than
most folks expect. I said to him, as
I wrote yesterday, that A) there is an upside "window" for a
trade if S&P 1250 can remain underfoot (as it stands, all bets are off) and
B) I conceivably foresee a retest of the March 2009 lows, although that may not
happen (if it happens at all) until 2013. Therein lies "the path we take
vs. the destination we arrive at" we often speak of. There are a multitude
of ever-changing variables in play. That isn't a hedge, it's what is. That’s
why I employ a stair-step approach to risk management. Everybody trips, the
goal is not to fall. While that
long-term scenario may or may not evolve, I'll say this so it's officially said
-- if we get "there," I plan to close my eyes and buy everything in
sight (in both my long- and short-term buckets). While you may be thinking,
"Way to put it out there, sport; I'd buy everything too if it were trading
at 50 cents on the dollar," I'll say with a high degree of certainty that
it won't feel like an opportunity -- it
will feel like the end of the world. I don't enjoy being bearish on
the big picture. I feel like that annoying guy at the craps table who bets on
the "no pass" line (yes, that's bad momo). And no, I don't talk about
this much as folks will think I've fallen out of my tree (deja
vu all over again!). With that said, all a man has is his name and his
word, and I would be remiss if I wasn't forthright (which is a different
conversation than being right).’
Dow
average plunges 513, worst drop since 2008 Aug 4th, 2011 14:26 by News August 04 (CBSMoneyWatch) — ‘The
stock market is finishing its worst day since the financial crisis.The Dow Jones industrial average plunged more than
500 points Thursday. Investors are concerned that the U.S.
economy will enter another recession and that Europe’s debt problems are not
closed to being solved.Major stock indexes fell more than 4 percent.’
A titanic fiscal mistake
Ted Nugent | When the
captain of the Titanic was warned repeatedly of icebergs ahead, he nonetheless
made the decision not to slow down or stop the ship for the night.
Markets Retreat
After U.S. Labor Data Reuters
| Wall Street opened lower Thursday, indicating a resumption of its downturn
after a labor market report.
Industrial
groups ring alarm bells on economy FT.com
| Risks to the global economy are increasing, growth is slowing and that
customers are growing more cautious.
Spot Gold
Soars To All Time High Of $1678.5 Zero
Hedge | Nothing like a perfectly calm, stable and non-imploding
global Keynesian Ponzi to set investors minds at ease.
The
Fed Is About To Get The Green Light For QE3 Business Insider | Yesterday
the buzz about QE3 began in earnest.
Do
Gold Prices Rise Whenever the Debt Ceiling is Raised? Washington’s Blog |
There is … an uncanny correlation between the gold price and the US debt
ceiling.
US borrowing
tops 100% of GDP: Treasury AFP | US debt shot up $238 billion to reach 100
percent of gross domestic project.
U.S.
markets end wild ride with slight gains (Washington Post) Washington
unemployment rate rises WP [ Except for law enforcement and The Washington
Post, it’s difficult to see how that could be anything but a positive thing! If
only they could start with congress and work their way through all the branches
of america’s corrupt, venal, incompetent government. The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed! Suckers’ rally into the close
on negative news. This is, along
with any up move / strength, a great opportunity to sell / take profits since
there’s much, much worse to come! (from Wall St. Cheat Sheet, see
article infra) ‘…1) Job cuts. Markets took a beating this morning after it was
announced that planned job
cuts in the U.S. climbed 59% year-over-year in July, and 60% over June’s
figures... 2 ) ISM service-sector report. Monday’s ISM
manufacturing report contributed to market losses on Monday, but today’s
report, though equally negative, didn’t quite have the same effect as markets
began to level out this afternoon. The ISM
service-sector index declined to 52.7% in July. The U.S. service sector
accounts for three-fourths of all economic activity, and employs four out of
every five U.S. workers , so a 0.5% decline speaks volumes about the state of
economic recovery…’ Factory
orders for June fell by 0.8% (just because they say the bad news isn’t as bad
as expected does not make such bad news ‘rally material’. Indeed, the huge
ralleys based on now revised downward data never seem to retrace that fake data
induced stock surge based thereon. Service sector growth slowest since 2010 Moody's sets negative outlook on BNY, JPMorgan Famed
economist predicts economic calamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 S&P ends string of losses on tech rebound Tech rebound? Is this some kind of a joke? Tech
up today? Absolute confirmation of dire prospects worldwide since american tech
is horrendous. Yet, sizzling ‘child’s play’ is the order of the day and credit
still must be given to those [ie., Steve Jobs-I’m truly glad he saved Apple, my
first computer (apple IIc for word processing / data based records / forms /
templates / data which I interfaced with an electric typewriter for letter
quality)] who could (as he) identify such novelties as the biggest over-priced
/ over-valued sensations since the hoola hoop (hoopla hoops - which were pretty
cheap and with some minor health benefits to boot).Take this run-up as a gift
based on fraudulent wall street b***s*** alone and take this opportunity to
sell / take profits / ‘sell today if you missed in may and then go away’!
Nothing has been solved; maybe forestalled.
National / World
In
Europe, the debt crisis only intensifies Italy and Spain struggle to
contain escalating panic over whether they can pay their bills. The trouble
comes amid more signs that European economies are rapidly slowing (Washington Post) [ Wow! This is a tough one.
Another mystery for the ages. Time to call in an expert to get to the bottom of
this and explain what’s comin’ down. Sounds like a job for ….. Rosanne Rosanna Dana formerly of SNL fame and as her mama
always used to say, which is also her hypothesis, ‘it’s always somethin’ … but
unfortunately, that somethin’ is not necessarily what they say it is. Then there’s Simon Maierhofer who posits: ‘It seems like the European Union and U.S. government are
stuck in a never ending game of Whac-A-Mole. It seems like more moles are
popping up more quickly, needing more force to be subdued (ironically the moles
come back just as the problems do) 3 Reasons Why This Summer Could Get
Ugly Simon
Maierhofer, July 29, 2011 … ’ Dem PIIGS
still got problems. Europe’s
debt crisis threatens Italy (Washington Post) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop …
py. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ Moody's
puts U.S. ratings on review for downgrade Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.).
Lobbyists
gear up after debt deal Facing future cuts, the health-care and defense
industries are preparing to put up a fight. (Washington Post) [ That’s right!
They’re not taking this lying down in bed with a bunch of corrupt politicians.
Their gambit … they’re now opting for their own paper dollar printing presses
($100 bills at that, thank you very much). Well, such is not original in
pervasively corrupt, defacto bankrupt america, and Washington particularly;
it’s happening all the time, even as we speak / write this very moment. After
all, say they, when you’re defacto bankrupt / insolvent, more or less
bankrupt/insolvent’s a distinction without a significant difference. They want
their ‘piece of the heart’ of the american dream … Mapping
the Myths of the U.S. Economy - Stacy
Curtin ‘In The
Real State of America Atlas: Mapping the Myths and Truths of the United States,
authors Cynthia Enloe and Joni Seager paint a vivid picture of life in the
U.S., using a series of charts, graphics and short essays that cover almost
every aspect of the nation's economy and society as a whole.
Not only do they give
state-by-state comparisons, they show how the U.S. measures up to the rest of
the world in areas such as health care, housing and defense. But while analyzing
what it's really like to live in the U.S. today, they also uncovered a few
"myths and truths" as the title of the book suggests.
Enloe and Seager joined
The Daily Ticker's Aaron Task to share three of the most surprising
misconceptions they uncovered.
#1 Land of
Homeowners
The dream of owning a
home is actually more the reality in other countries. In the book, the authors
point to the most recent data, which show only 68% of Americans owned their
home in 2002, compared with 92% in Hungry, 84% in Mexico, 72% in the U.K. and
71% in Australia.
"One of the things
that is a cherished notion about America is we are a nation of homeowners, and
homeownership has long been seen as kind of the bedrock of the American
dream," says Seager. "I think the current economic crisis and the
housing crisis is really shaking that American cherished view of ourselves as
having easy access to homeownership."
This is evident in
another stat laid out in the book, which shows 83% of people agreed that buying
a home was a safe investment in 2003, compared with 70% in 2010. (See: Why
I Am Never Going to Own a Home Again)
#2 Land of
Opportunity
Just like the ideal of
owning a home, opportunity in this country is now also on the brink.
"Opportunity in
this country means a chance for an education … [and] a chance for a decent job
that allows you to have a decent life," says Enloe, who points to two key
factors that hinder people making it here in America.
#3 Land of Givers
While the U.S. does give
more money in foreign aid than any other country in the world, as a percentage
of GDP it falls way behind many other nations.
Whereas Sweden gives
almost 1% of its GDP in 2008, the U.S. gave 0.19%.
"I think it really
should shake Americans' self-perception of two things," says Enloe.
"[One] is cutting foreign aid actually the ticket to balancing the budget,
but also how do we shape up compared to other countries' generosity?" ’
Milbank:
From Tea Party patriot to party man (Washington Post) [ Ah, sweet Mr. Milbank.
He’s such a sweet man. And, he’s loyal too; at least to ‘wobama the b’ (for
b***s***). Milbank:
Mourning the debt deal (WP) [ Ah,
yes! Sweet Mr. Milbank. He’s so sweet. Friend to the Gipper and the new
democratic party. His pain is our pain. Let us join him in tears. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Happy
birthday, Mr. President GALLERY | Dana Milbank imagines the cards Congress
will send on Aug. 4 to celebrate Obama’s 50th.
(Washington Post) [ Yeah … beyond the overwhelming predominance of hate
mail, I too conjure up an image celebratory of wobama’s 50th with
Mr. Milbank, dressed in drag, with blond wig, pronouncedly darkened mole on cheek,
and in a soft, raspy but sultry, sexy voice singing ‘happy birthday Mr.
President’. I mean, come on … we all know somethin’s goin’ on between them …
you know, kind of a love affair for the ages … Riiiiight! Milbank:
Dealing with the Default Caucus (Washington Post) [ I just love ‘wobama the b’
(for b***s***) apologist in chief, Mr. Milbank. He’s so egalitarian; surprising
all by his colloquial reference to whom one might otherwise consider to be his
political polar opposite, and even political nemesis in the persona of Ronald
Reagan, so tritely referred to by Mr. Milbank as ‘The Gipper’ in whom Mr.
Milbank posits the inspiration, ‘heart and soul’, of ‘the new democratic
party’. What total b***s***! How about everyone, including Mr. Milbank,
realizing the dire predicament facing the nation owing to a now familiar
political strategy of ‘kicking the can’ down the road a piece till the problem
(insolvency of the nation) has as now become insurmountable and hence,
unsolvable. That’s where we’re at now! .
Drudgereport: HARRY
BELAFONTE: Obama 'has failed'...
NOONAN:
'HE IS A LOSER'...
GALLUP:
40% APPROVAL...
Obama
takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job...
GALLUP
SHOCK: 'REPUBLICAN' BEATS OBAMA BY 8%
APPROVE:
42%
Return
of Mass Layoffs a Grim Sign...
Dollar
falls to all-time low against Swiss franc...
Obama Threatens Another Veto...
Just
hours after urging compromise...
Carney
Admits Obama Has No Plan...
BALL
IN YOUR COURT, HARRY[, aka Mr. Milktoast, aka Majority Leader of Harry’s Wh*r*
House]!
NO!
22 REPUBLICANS BUCKED BOEHNER...
DC
racing against clock...
Milbank:
Congress is now middle school ‘Anew Washington
Post-ABC News poll finds that 80 percent of Americans are dissatisfied with
the way the federal government is working. Such a finding leads to an
inevitable conclusion: The other 20 percent aren’t paying attention … Ah, sweet
Mr. Milbank. Who said he gets things wrong? Middle school? From Gipper (I
always hated that trite reference to Reagan – and again, let me reiterate that
though I liked Reagan as a very likeable guy, the last real american leader /
president was the underrated but great President General Eisenhower who warned
of the current debacle called america in the sense of admonishing of the danger
inherent to the now entrenched ‘military industrio-inferiority complex’) to
graduation, perma-wobama apologist Mr. Milbank has come a long way; but, a pile
of b***s*** in the form of ‘wobama the b’ stands intractably in his way, no
matter what. Because … ? You can’t change what lamentably wobama is and has proven himself to be. If only he
had done what he promised he would do (those false campaign promises which got
him elected). But alas, as in the moral of the story of the ‘scorpion and the
frog’, you cannot change the nature of that cowardly, failed ‘president’ called
‘wobama the b’. (Washington Post) [The
new party of Reagan The Gipper helps make the case for Democrats.
(Washington Post) [ ‘Well there you go again’ quoting the ‘Gipper’, off the
deep end as one might expect from wobama apologist Mr. Milbank (he’s somewhat
of a lemming himself). After all, how different really are the parties these
days when profligate spending on illegal, unnecessary wars was continued when
democrats controlled congress, and then even the executive office when
continuing failed president and war criminal dumbya bush’s nation bankrupting,
nation destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Preposterous! Especially since Reagan’s most significant achievement
was his rational approach toward Russia (with of course the substantial help of
the astute Gorbachev) toward the ameliorative goal of peace and consequent
peace dividend which enabled a ‘smooth-sailing’ though undeserved tenure for
ultimately clinton (cia man ‘poppy the sailor man’ bush was already working on
stirring up war / military industrial complex matters in the Mideast – that
April Glaspie/cia/Iraq/Kuwait communiqué to sadam and the consequent debacle,
etc.).
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see
infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5
pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as
fbicorrespondencereyes.htm . With regard to
the calls to the FBI’s LA and New Haven, CT offices: There was one call to the
LA office and I was referred to the Long Beach, CA office where I personally
met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of
the money laundering which he confirmed as indicative of same (he was
transferred from said office within approximately a month of said meeting and
his location was not disclosed to me upon inquiry). The matter was assigned to
FBI Agent Ron Barndollar and we remained in touch for in excess of a decade
until he abruptly retired (our last conversation prior to his retirement
related to the case and parenthetically, Rudy Giuliani whose father I stated
had been an enforcer for the mob to which he registered disbelief and requested
I prove it, which I did – he served 12 years in prison, aggravated
assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew
Maloney’s the one that prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra).
Such includes and as set forth in the case, inter alia,
There is applicable
insurance / surety coverage and neither LA, nor creditors, nor I should continue
to have been damaged by this brazened corrupt and illegal scenario, which
should be resolved in accordance with the meaningful rules of law apposite
thereto.
Sincerely,
Albert L. Peia
611 E. 5th
Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell
phone)
(213) 622-3745 (listed
land line but there are unresolved problems with the line, computer connection
may be the reason but I hesitate to chance greater non-performance / worsening
by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651
-magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
Top 3 Reasons Markets Rallied Despite Negative Economic Outlook Wall St. Cheat Sheet August 3, 2011, Markets
closed up on Wall Street today: Dow +0.25% , S&P +0.59% , Nasdaq +0.81% ,
Oil -2.10% , Gold +1.22% .
On the commodities
front, Oil fell to $91.82, while precious metals gained, with Gold up to
$1,664.50 an ounce and Silver up 4.19% to $41.77 an ounce.
Don’t Miss: A
Look At U.S. Economic Data Scaring Investors.
Today’s markets were up
because:
1) Job cuts. Markets
took a beating this morning after it was announced that planned job
cuts in the U.S. climbed 59% year-over-year in July, and 60% over June’s
figures. Projections have Friday’s Labor Department report on the state of job
growth in the U.S. showing 85,000 more payrolls in June, a figure only good
enough to maintain June’s 9.2% rate of unemployment. If the number reported
Friday falls short of expectations, population growth may again exceed job
growth, and the rate of unemployment could rise.
2 ) ISM service-sector
report. Monday’s ISM
manufacturing report contributed to market losses on Monday, but today’s
report, though equally negative, didn’t quite have the same effect as markets
began to level out this afternoon. The ISM
service-sector index declined to 52.7% in July. The U.S. service sector
accounts for three-fourths of all economic activity, and employs four out of
every five U.S. workers , so a 0.5% decline speaks volumes about the state of
economic recovery. However, ultimately the news seems to have had little effect
on the already depressed markets, which began to rally in the afternoon to
finish the day with gains.
3) Tech. All three major
indices closed the day up, in large part thanks to tech stocks. Apple , Google
, Intel , IBM , and Microsoft led tech gains today, with Intel one of the Dow’s
best performers, helping push the index positive in the last hour of trading so
that, despite a negative economic outlook, the markets finally got their day in
the sun after the shadow of the debt ceiling finally passed…’
[video]
Trader: Expect More Selling at
TheStreet.com
After
crisis, attention turns to spending panel
Bipartisan committee, tasked with developing a broader plan to control
the government’s debt, is likely to confront the same ideological divide that
caused an almost crippling impasse in the debt-limit debate. (Washington Post)
[ Ah, riiiiight! The plan, for a plan, to make a plan, for a committee, to make a plan, for a plan to
plan for a final plan of planning to plan to plan a plan’s plan of executing a
plan’s plan of execution of the planned committee’s plan for planning a plan to
plan a plan that’s planned for a post election plan to plan a plan. What
planners pervasively corrupt, defacto bankrupt america has; you know the type;
viz., boy scouts all and true to their motto, ‘be prepared’. And, prepared they
are, to make a plan to be prepared to make a plan to plan a plan post election.
What a grand plan to plan to kick the can post election is the plan, for the
united plans of america, a new nation, conceived in corruption, greed,
incompetence, and thievery, and dedicated to the proposition that almost all
american citizens are created stupid and that you really can, with a plan to
plan, fool most of the people into takin’ it in the can. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. Maierhofer: ‘USA INCOME
STATEMENT:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
BALANCE SHEET: Consensus estimates for unfunded obligations
vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross
estimates the unreported debt to be $75 trillion, while other estimates exceed
$100 trillion (these amounts are insurmountable) …’ Davis ‘This is how we pay off
our current debts and I think bondholders are simply happy to get anything out
of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes
closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The
funniest thing about this (and you have to laugh) is to see Conservative
pundits get on TV and talk about how we need to cut $100Bn worth of
discretionary spending to "fix" this (while continuing to spend $1Tn
on the military and $1Tn on tax cuts for the top 1% each year). There is no
fixing this and even a Republican said you can’t fool all of the people all of
the time.). IT'S GOING TO HURT 'FOR LONG
TIME TO COME' [ Says tiny tim geithner … thanks for the heads up
tiny tim ‘God bless us everyone’! … As if we didn’t already know it / feel it! Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money--
Stocks
plunge despite debt deal Weak economic signs spur major retreat, pushing
markets to their lowest point of the year. (Washington Post) [ Despite debt
deal indeed. This mystery sounds like a job for Rosanne Rosanna Danna formerly of SNL fame, to chime in
with a reminder as her mama always used to say, ‘it’s always something’
(previously from 2010 – the song remains the same) … but unfortunately, that
somethin’ is not necessarily what they say it is. Reality is that the u.s.
market needs no help from Asia or Ireland or Greece, etc., to fall but here in
the states they would love for you to think that. The fact is that the u.s.
market is way over-valued / over-bought, floating on air and b*** s*** alone in
this new bubble as in the last before the previous crash that the wall
street frauds and insiders commission with high frequency churn-and-earn trade
programs and sell into. I mean,
forget about valuations, security analysis, basic economics, etc. … it’s suddenly, from out of nowhere, Ireland
and China jamming on the breaks … riiiiight! Come on! That dog don’t hunt no
more! Lloyd, infra, lists 17 concerns right off the top. The decline certainly
was no mystery to Loundsbury, Roche, Maierhofer, Hussman, etc., infra, among
many others. … The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Rout spells trouble for Wall Street / Moody's
confirms U.S. rating at Aaa, outlook negative / Chinese rating agency cuts
U.S. debt again]
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see
infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5
pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as
fbicorrespondencereyes.htm . With regard to
the calls to the FBI’s LA and New Haven, CT offices: There was one call to the
LA office and I was referred to the Long Beach, CA office where I personally met
with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the
money laundering which he confirmed as indicative of same (he was transferred
from said office within approximately a month of said meeting and his location
was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron
Barndollar and we remained in touch for in excess of a decade until he abruptly
retired (our last conversation prior to his retirement related to the case and
parenthetically, Rudy Giuliani whose father I stated had been an enforcer for
the mob to which he registered disbelief and requested I prove it, which I did
– he served 12 years in prison, aggravated assault/manslaughter? – and no,
there is no Chinese wall of separation – Andrew Maloney’s the one that
prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable
insurance / surety coverage and neither LA, nor creditors, nor I should
continue to have been damaged by this brazened corrupt and illegal scenario,
which should be resolved in accordance with the meaningful rules of law
apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th
Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell
phone)
(213) 622-3745 (listed
land line but there are unresolved problems with the line, computer connection
may be the reason but I hesitate to chance greater non-performance / worsening
by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651
-magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
What
can the Federal Reserve do? With the U.S. economy at risk of a double-dip
recession, the central bank lacks tools to do anything. (Washington Post) [ Oh
I’d say they’ve done quite enough … wouldn’t you? … Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This
catering to fraudulent wall street was a loser ab initio! That so-called
‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan
and failed miserably except for the frauds on wall street who commissioned up
and down; and, make no mistake, those computer-programmed high-frequency
trading volumes have now been maximized for nation-economy-draining profits for
the frauds like never before and have never been higher. The QE and
dollar-debasement policies were always predictably inflationary, ultimately
hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that
was but in reality good only for the frauds on wall street. No, there is no
modern day alchemy that spins worthless paper into gold except fraudulently for
the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing
out’ for hard currency and gold, precious metals, at everyone else’s expense
including main street. ] In
his June 7 speech, Fed Chairman Ben Bernanke stated, “the best way for the
Federal Reserve to support the fundamental value of the dollar in the medium
term is to pursue our dual mandate of maximum employment and price stability,
and we will certainly do that.”
.. Bernanke’s results ..
since Ben took the reins:
Feb ’06 – April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
.. The
standard unemployment rate most often used by the Fed is currently at 9.1%, up
90% since Bernanke started. The more inclusive (realistic) U6 number
stands at 15.8%, up 75% in the same period. The Civilian Participation
Rate has declined 2.87% to 64.2%.
This is the lowest level
the U.S. has seen since March, 1984. The decline amounts to 8,946,844
fewer Americans in the labor force. Had they not dropped out because of a
lack of jobs, the “official” unemployment rate would be significantly
higher. While we can debate the meaning of the term maximum employment,
it is clear that the jobs data has deteriorated considerably since Bernanke
took the reins at the Fed. ..
In conclusion, it is
evident that Ben Bernanke is failing his mandates. We believe it must
come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding.
Matt Marcewicz
& Robert Barone, Ph.D.
.. ‘
[video]Sellers
Focus On DowngradeTheStreet.com TV
Analysis: Obama, Bernanke out of ammo to boost jobs, growth - WASHINGTON/NEW YORK (Reuters) - The United States has a jobs problem and there's not a lot President Barack Obama or Federal Reserve Chairman Ben Bernanke can do about it.
How
Far Will Stocks Fall? at Forbes Tom Aspray
‘New fears about the economy have trumped the debt resolution and the selloff
is now on. Here are the critical support levels and potential downside targets
to watch for the major stock index ETFs…’
Rhode
Island Town Goes Bankruptat Forbes
John
Mauldin: The U.S. Must Cut $10 Trillion in 10 Years, or Taxes Will Skyrocket
The Daily Ticker[ Don’t hold your breath!
]
Silent Bank Run In Greece London Guardian | Greece in panic as it faces change of Homeric proportions
Global
Economic Depression – The “Solution” to The Debt Crisis: More Debt Bob Chapman | Perhaps with the
exception of Germany the world economy is in disarray.
Europe
on Brink of ‘Major Financial Collapse’: Guggenheim CIO CNBC | Europe is a “train wreck.”
Spending
Cuts? Federal Spending Will Be Higher in 2012 CNS News | The Budget Control Act of
2011 does not actually cut spending for fiscal year 2012.
China
Joins Russia in Blasting U.S. Borrowing After Debt Ceiling Agreement Bloomberg | China joined Russia in
criticizing American policy makers for failing to ensure borrowing is reined
in.
Refuge
Demand Sends Gold To Record Above $1,670 WSJ | Gold futures continued their
march into record territory Wednesday.
SNB
Intervenes To Lower “Massively Overvalued” Franc, Leaves Gold As Only “Safe
Haven” Currency Zero Hedge | The Swiss central bank “unexpectedly”
intervened to curb the record appreciation of the Swiss Franc.
China
Boldly Goes (Again) Where Moody’s Has Never Gone Before, Downgrades US From A+
To A, Outlook Negative Zero Hedge | As was predicted last week, China’s
rating agency Dagong has come through on its threat to downgrade the US.
Food
Stamp Use Surges By Most In Years As Alabama Foodstamp Recipients Double In May
Zero Hedge | It appears that GDP data revisions are not the only thing that the
administration enjoys fudging with.
National / World
Bloomberg | State-run Xinhua News Agency blasted what
it called the “madcap” brinksmanship.
‘…And it is not only Americans who are being
made homeless by US policies. Afghans, Pakistanis, Iraqis, Yemenis, Somali,
Libyans are also consigned to homelessness by American policy. Moreover,
America’s wars against these peoples together with the supporting
military/security budget account for 75% of the US budget deficit. Indeed, the
cost of these wars exceed the planned future budget savings from the debt limit
deal.
In other words, the cost
of the wars that make millions of foreigners homeless use up revenues that the
federal government could have used to keep Americans in their homes and
teachers in the schools. As much as many Republicans profess to be concerned
about the US public debt, Republicans were not sufficiently concerned to
address their issue by cutting back the $1.2 trillion military-security budget
or by raising the low tax rates on the mega-rich.
Look at these July 30
headlines, just two days prior to the default deadline, from the online group,
Stop NATO:
US Military To Be Based
In Australia To Confront China
Call To Expand American
Counterinsurgency Operations In Philippines
US Could Upgrade Polish
Warships For Baltic Sea
Bulgaria: Pentagon
Continues Upgrading Military Bases
US Uses Romanian Air
Base To Supply Afghan War
America’s Africa
Partnership Station In East Africa
Mongolia: US Leads NATO,
Asian NATO Allies In Military Exercise
Libyan War: Over 17,000
NATO Air Missions, Nearly 6,500 Strike Sorti
The Big Picture: War on
Libya is War on Africa
What in the world is a
country facing bankruptcy and default doing conducting military exercises in
Mongolia and Central Asia? What is the North Atlantic Treaty Organization,
designed to counter a Soviet thrust into Western Europe, doing in Mongolia?...’
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see
infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3
copies of the within DVD rom autorun disk (which will open in your computer’s
browser) as per your office’s request as made this day (the disk and contents
have been scanned by Avast, McAfee, and Norton which I’ve installed on my
computer to prevent viral attacks / infection and are without threat). I also
include 1 copy of the DVD as filed with the subject court as referenced therein
(which files are also included on the aforesaid 3 disks in a separate folder
named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act
is a criminal statute which provides a civil remedy, including treble damages
and attorney fees, as an incentive for private prosecution of said claims
probably owing to the fact that the USDOJ seems somewhat overwhelmed and in
need of such assistance given the seriousness and prevalence of said violations
of law which have a corrupting influence on the process, and which corruption
is pervasive). A grievance complaint against Coan was also filed concurrently
with the subject action and held in abeyance pending resolution of the action
which was illegally dismissed without any supporting law and in contravention
of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents as
filed. (Owing to the damage to the financial interests of both the U.S. and the
District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions of the Federal False Claims
Act probably would apply and I would absent resolution seek to refer the within
to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to
FBI Under Penalty of Perjury at Their Request (5
pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf
].
The correspondence I
received from the Congresswoman by way of email attachment (apparent but
typical problem with my mail) along with my response thereto is included on the
3 disks as fbicorrespondencereyes.htm
. With regard to the calls to the FBI’s LA and New Haven, CT
offices: There was one call to the LA office and I was referred to the Long
Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I
gave probative evidentiary documents of the money laundering which he confirmed
as indicative of same (he was transferred from said office within approximately
a month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to
the statement in said correspondence, there is a plethora of information
including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see
infra). Such includes and as set forth in the case, inter alia,
There is applicable
insurance / surety coverage and neither LA, nor creditors, nor I should
continue to have been damaged by this brazened corrupt and illegal scenario,
which should be resolved in accordance with the meaningful rules of law
apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th
Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell
phone)
(213) 622-3745 (listed
land line but there are unresolved problems with the line, computer connection
may be the reason but I hesitate to chance greater non-performance / worsening
by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651
-magic jack}
----------
*The foregoing and as
indicated therein was previously send 9-14-10 but delivery confirmation was
flawed as set forth below and my inquiries to the u.s. postal service rebuffed
(I believe tampered with inasmuch as your office could not locate same). This
cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the
subject files for ease of reference, including the files in the RICO action as
indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates
once again that your office has not received the aforesaid and which can
reasonably be presumed to have been tampered with, and hence, a violation of
the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
Top 3
Reasons Markets Were Down Despite Debt Deal Wall St. Cheat
Sheet August
2, 2011, Markets closed
down on Wall Street today: Dow -2.19% , S&P -2.56% , Nasdaq -2.75% , Oil
-1.73% , Gold +2.34 % .
On the commodities
front, Oil fell to $93.25, while precious metals gained, with Gold up to
$1,659.60 an ounce and Silver up 3.79% to $40.80 an ounce.
Don’t Miss:
The
U.S. Debt Deal: Your Cheat Sheet to the Framework.
Today’s markets were
down because:
1) Consumer spending.
With consumer
spending dropping off in July for the first time since September 2009, it
looks as though the economic recovery might be coming to a standstill. This morning’s
report from the Commerce Department shows that the economy only grew 1.3%
during the second quarter, while both income and disposable income only rose
0.1%, the slowest rate of growth since November 2010, and consumer spending
contracted 0.2%. The news only compounds the effect of Monday’s ISM
report showing that growth in the manufacturing industry also slowed in
July.
2 ) Debt deal. With a
much-awaited debt
deal finally passed in the nick of time, markets haven’t gotten the boost
one might have expected as investors realize that the deal, which issues huge
cuts to spending without touching taxes, won’t actually help the stagnant
economy. Yesterday anticipation of the deal helped to offset negative economic
data, but now Congress has loosed its reigns on the markets, which will now
have to take their cues from the economy.
3) Debt deal, take two.
While the debt deal will be cutting social spending, student aid, and
government agency budgets, it will also be directly affecting many large
corporations that rely heavily on government sales. Healthcare stocks like
Pfizer , and Humana are down as they expect weakened profits as Congress cuts
funding for Medicare and Medicaid. The capital goods sector is also being hit
by the deal, with huge cuts to defense spending putting contracts with tech,
manufacturing, and aerospace companies like United Technologies , Honeywell ,
and Lockheed Martin at risk…’
[video]
Sellers Focus On DowngradeTheStreet.com NEW
YORK - Teddy Weisberg of Seaport Securities says the headwinds and Washington
are weighing on the market.
American
Investors Screwed: Dave's Daily at
TheStreet (Tue 6:51PM EDT) ‘The debt ceiling has been raised
and conventional wisdom had it that we'd rally. That notion was blown apart
Monday and Tuesday especially. Americans are facing an uncertain future with
debts and ways to pay for them. The debt ceiling will create yet another
commission to come up with solutions. This is pretty dumb since we already had
a presidential commission with a recent report that no one wanted to deal with,
especially the president. The focus has shifted from this Washington melodrama
to real stuff like economic data. Today Personal Income and Spending showed the
first decline in 2 years. Recent reports taken together indicate a rapidly declining
economy. In fact, J.P. Morgan economists have slashed forecasts for the second
half of 2011 from 2.7% GDP growth (already reduced) to below single digit. The
inference is a trip back to recession. And, noises were emanating from Europe
on Tuesday that more debt troubles were about to plague Spain, Italy and even
France. Even with markets being already short-term oversold, the "get me
the hell out" mantra echoed through the floor of stock exchanges Tuesday. Earnings? Nobody cares right now
since they're just so much "old news." Sure, with good earnings
reports trailing PEs will look pretty cheap but that would mask what lies
ahead. Bonds continued their crazy meteoric ascent as yields on 10-year
Treasury bonds dropped to 2.62%. Even those drinking Kool Aid know basic
inflation wipes out this yield. The dollar rallied overall against most
currencies since with stocks in a major sell-off it was
time to take profits wherever available. Further margin calls were no doubt
issued and it was time for some dollar repatriation. Gold continued to rise
sharply to new highs while commodity markets overall were much weaker given
thoughts of weak demand. Whatever 2011 year-to-date gains existed have been
wiped-out for the major equity indexes. And today was the worst loss for SPY
since August 2010. This shouldn't surprise since we've repeatedly been
comparing this summer with last year…’
Small
Caps Now Negative In 2011; SPY Confirms Bearish Turn at Barrons.com
STOCKS
GET DESTROYED, DOW FALLS 266, GOLD SURGES: Here's What You Need To Know Business
Insider Joe Weisenthal, On Tuesday
August 2, 2011, 4:00 pm EDT
Horrible and depressing and disappointing. But first, the scoreboard:
Dow: -265.72
NASDAQ: -75.43
S&P 500: -32.89
And now, the top stories:
S&P
Goes Negative for the Year at The
Wall Street Journal
The
U.S. Fiscal Crisis: Much Like Greece Stacy
Curtin | Daily
Ticker ‘At long last, our elected officials in
Washington have reached a deal to raise the country's $14.3 trillion debt
ceiling! The measure made it through the House of Representatives Monday and is
set to hit President Obama's desk by day's end after the Senate also votes to
approve the legislation. (See: THE
DEBT DEAL: Crisis Over, But More Pain To Come)
But the bipartisan deal
does little to fix our long-term budget problems, say Adam Lerrick, professor
of economics at Carnegie Mellon University, pointing to two core problems: 60%
of Americans receive more from the government than they pay in taxes, and 50%
of Americans pay no income tax at all.
"This [deal] is
just a temporary stop-gap measure," says Lerrick, an expert in sovereign
debt restructuring. "The United States has shown itself totally incapable,
and this is both parties, of dealing with its fundamental economic problems,
which are Medicare, Social Security, education and energy. And until we do,
there is not going to be any real progress in this economy."
What's more is that
Lerrick thinks the U.S. is just like Greece, with one exception: The rest of
the world still considers the U.S. dollar as its reserve currency -- at least
for now. (For
more on Greece, see: The
Greek Charade, Act II: Europeans Keep Kicking the Can, Stocks Rally).
Lerrick, who led
Argentina's $100 billion debt restructuring, says it's only a matter of time
before the world shifts away from the U.S. dollar.
"The world is
trying to find an alternative to the dollar. The only alternative right now
would be the euro, and as we've seen, the Europeans have their own fiscal
crisis," he tells The Daily Ticker's Henry Blodget in the accompanying
clip. "The day that stops, then we have a full-blown crisis, because we
will literally not be able to pay our bills."
Right now we are on the
precipice of this crisis, and there is only way to get Washington to wake up
and act beyond its business-as-usual practices of ignoring and spending our way
out of problems, he says. Unfortunately, it's not pretty. He says we need to hit
the point of no return before politicians and the electorate are forced to make
the "tough choices" that will eventually fix our fiscal mess.
"The crisis has
started," Lerrick says. "Whether we recognize it and take action, I
hope that will be the main subject of next year's presidential
election." ‘
Check out this online comic that shows how the debt
ceiling fight played out >
Famed
economist predicts economic calamity in 2012. See the evidence. Newsmax
US
borrowing to surge after debt cap raised AFP | Treasury expected to issue $331 billion in net
debt in the July-September quarter, up from $190 billion in the previous
period.
How
The “Debt Man Walking,” aka Uncle Sam, Plans To Steal From You Zero Hedge | Debt ceiling raised to
palpable sighs of relief heard across global financial markets, but the fun
times are over.
Putin
Calls U.S. a “Parasite,” Demands New Reserve Currency Activist Post | Putin
seemed pleased that politicians in the U.S. agreed to a deal to raise the debt
ceiling.
Sharp
Increase in Central Bank Gold Reserves – South Korea Up 17-Fold & Thailand
15.5% in 2 Months Goldcore | Gold is higher in all currencies today except
for the Swiss franc.
Will
Fed Pump More Money as US Economy Sinks? CNBC | The view that economic
weakness will lead the Fed to pump more money into the system is gaining
ground.
The
Charts The Government Doesn’t Want You To See Wealth Cycles | A healthy
skepticism of government statistics is one of those self-preservation
mechanisms that keeps us from hurting ourselves.
The
Imminent $2.5 Trillion Debt Ceiling Hike Will Unleash A Gold Price Surge To
$1,950 And Higher Zero Hedge | Two weeks ago we presented a chart that
shows the uncanny correlation between the debt ceiling and the price of gold.
National / World
Putin
Calls U.S. a “Parasite,” Demands New Reserve Currency Activist Post | Putin
seemed pleased that politicians in the U.S. agreed to a deal to raise the debt
ceiling.
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
Senate
set to take up measure Tuesday The 269 to 161 vote broke down like this:
174 Republicans and 95 Democrats supported the deal, while 66 Republicans and
95 Democrats opposed it. (Washington Post) [The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! The Daily Market Report
Aug 1st, 2011 PG
‘Relief? What Relief? http://www.usagold.com/cpmforum …Late
last night when party leaders and the President announced that they had reached
a bipartisan deal that would allow the debt ceiling to be raised, gold dropped
about 1%. Global stocks rallied in relief and briefly, ever so briefly, gold
was out of favor…CBO scores the package as accomplishing $2.1 trillion in
spending cuts over the next 10-years, the CBO baseline also has the deficit
rising $6.7 trillion over the same period. The premise apparently being that
we’re working our way to actual cutting by cutting to slow the pace of the
nation’s proliferate spending. In actuality — and as evidenced below — that CBO
baseline may prove to be way too optimistic. What really lit an intraday fire
under gold today was the big miss on US July ISM, which plunged to 50.9. The
market was expecting a modest downtick to 55.0 from 55.3 in June…’ The
Truth About The Debt Deal: It’s Pretty Much Meaningless Business Insider/ Come on! Who believes their pre-election year data, reports,
b***s***? There’s desperation in the air and like never before! One
commentator, Peter Shiff, to Frank Motek of 1070am Bus.Report references the
sham in Washington; and regardless, points to default by way of inflation,
further stating that the debt ceiling’s already been breached by borrowing.
Moreover, he additionally states that default is inevitable by way of
inflation; that the fed will be buying the evermore worthless american paper
(bonds) and creating/printing evermore worthless american dollars; that there’s
been a quid pro quo with at least one of the 3 (S&P, Moody’s, Fitch)
federal licensed rating agencies, viz., of reaffirming the u.s. AAA rating in
return for no prosecution surrounding their role in the S&P AAA rated
worthless (fraudulent, mortgage-backed, derivative) paper securities (fraud)
giving rise to the previous leg of this continuing, ongoing debacle / crisis.
He finally goes on to recommend non-u.s., non-dollar denominated assets,
precious metals, and alternate currencies. This
is still a great opportunity to sell / take profits since there’s much, much
worse to come! Initial
unemployment claims
rise to 418000 - Jul.
21, 2011 which bad news sparked wall street rally … what total
b***s***. No budget deal, celebrated Greek Plan – DEFAULT! … sounds like a
plan!…, backward looking earnings results … riiiiight! Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon / Tech up today? Absolute confirmation of
dire prospects worldwide since american tech is horrendous. Yet, sizzling
‘child’s play’ is the order of the day and credit still must be given to those
[ie., Steve Jobs-I’m truly glad he saved Apple, my first computer (apple IIc
for word processing / data based records/forms/templates/data which I
interfaced with an electric typewriter for letter quality)] who could (as he)
identify such novelties as the biggest over-priced / over-valued sensations
since the hoola hoop (hoopla hoop - which were pretty cheap and with some minor
health benefits to boot).Take this run-up as a gift based on fraudulent wall
street b***s*** alone and take this opportunity to sell / take profits / ‘sell
today if you missed in may and then go away’! Nothing has been solved; maybe
forestalled. This is the umpteenth rally based upon the ‘solution’. The
ubiquitous problems make the notion of a ‘Gordian Knot’ a mere tinker toy in
comparison. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. Maierhofer: ‘USA INCOME
STATEMENT:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
BALANCE SHEET: Consensus estimates for unfunded obligations
vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross
estimates the unreported debt to be $75 trillion, while other estimates exceed
$100 trillion (these amounts are insurmountable) …’ Davis ‘This is how we pay off
our current debts and I think bondholders are simply happy to get anything out
of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes
closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The
funniest thing about this (and you have to laugh) is to see Conservative
pundits get on TV and talk about how we need to cut $100Bn worth of
discretionary spending to "fix" this (while continuing to spend $1Tn
on the military and $1Tn on tax cuts for the top 1% each year). There is no
fixing this and even a Republican said you can’t fool all of the people all of
the time.). IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know it / feel it! Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell ]
A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator infra – and
that’s just the government (inflation) numbers … reality is much worse!}
Meanwhile, the frauds on wall street are churnin’ and earnin’ like never before
at lightning computerized speeds enabling the high-frequency trades that are
commissioned in unprecedented large volumes; a big net negative in real
economic terms.] While
Washington Fiddled The Economy Burned at
Forbes [ Oh come on! Let’s get real here! The economy was already burning (see
infra), Washington notwithstanding! Indeed, the frauds on wall street with
those contraindicated paper stock computer programmed commissioned
churn-and-earn rallies would love for you to think it’s Washington only {that aw
shucks, coulda’ been clear sailin’ otherwise moment; but the reality is that
things are far more dire financially and economically than their window-dressed
scams would indicate, though washington’s no help, incompetent,
unknowledgeable, and ineffectual as they are (although fraudulent wall street,
aside from their consummate scammin’, is little better and probably overly
relied upon and light in those very areas one would expect to find profiency;
viz., finance and economics.) Most importantly, realize that if wobama’s
actions had not belied his words/campaign promises, the nation’s position,
though still ominous, would have been substantially improved.} ] Check out this inflation calculator:
http://www.albertpeia.com/inflationcalculator.htm
. My own direct experience with the region(s)
(particularly new jersey, new york, virginia, connecticut, california) carves
out no exception for the prevalence of the worst of human nature; which is now
collectively and pervasively americana. Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
#1 The Obama administration is now projecting that the
federal budget deficit for this year will be an all-time record $1.645 trillion dollars.
#2 The budget deficit for this year alone will end up
being well over 10 percent of GDP. That is an absolutely nightmarish
level.
#3 Currently, the accumulated national debt of the U.S.
government has reached a grand total of $14,123,589,307,190.53.
#4 If you divided the national debt up equally among
all U.S. households, each one would owe a staggering $125,475.18.
#5 The federal government has borrowed 29,660 more dollars
per household since Barack Obama signed the economic stimulus law two years
ago.
#6 During Barack Obama's first two years in office, the
U.S. government added more to the U.S. national debt than the
first 100 U.S. Congresses combined.
#7 In the new budget that the Obama administration has
proposed, the U.S. government would spend 3.7 trillion dollars in 2012 and by
2021 the U.S. government would be spending a whopping 5.6 trillion dollars per year.
#8 The U.S. government currently has to borrow
approximately 41 cents of every single dollar that it
spends.
#9 The total compensation that the federal government
workforce earned last year came to a grand total of approximately 447
billion dollars.
#10 The U.S. national debt is currently rising by well
over 4 billion dollars every single day.
#11 The U.S. government is borrowing over 2 million more
dollars every single minute.
#12 The U.S. national debt is over 14 times larger
than it was just 30 years ago.
#13 Unfunded liabilities for entitlement programs such
as Social Security and Medicare are estimated to be well over $100 trillion,
and nobody in the U.S. government seems to have any idea how we are actually
even going to come close to meeting all of those obligations.
#14 If you were alive when Christ was born and you spent
one million dollars every single day since that point, you still would not have
spent one trillion dollars by now.
#15 If the federal government began right at this moment
to repay the U.S. national debt at a rate of one dollar per second, it would
take over 440,000 years to pay off
the national debt.
Debt
Deal Yields More Debt: Dave's Daily at
TheStreet ‘If the founders could only see what's happening now
they'd be disgusted and mighty pissed off! This is hardly a market headline now
is it? Well, you won't see it anywhere else but my sense is most people are
feeling as Father George would feel right now. We did, or are getting, the debt
ceiling relief everyone was worried and fixated upon. We'll get a vote in the
Congress after 6-7 PM EDT. On the news of this last night, markets in Asia
rallied. I was watching breathless and excited Bloomberg anchors in Asia
cheering markets. Markets opened higher in the U.S. but quickly turned south as
the important ISM Data missed consensus forecasts badly (50.9 vs 54.6
expected). This shows the economy is still contracting. The sell-off continued
until we tagged the all-important 200 day moving average in several sectors,
and with conditions much oversold, we rallied. The intraday DJIA sported a 280 point intraday
swing. Nobody is paying much attention to earnings news overall since the
focus is on debt and the economy. Gold fell, then rallied and fell again
modestly as nervousness remains high. The dollar rallied against the euro and
other currencies as the rubber band was stretched too far and Bucky was at critical
support. Commodities rallied early but then fell after ISM data pointed toward weak demand.
Bonds continued to rally despite ongoing debt and debt ceiling debate…’
Milbank:
Mourning the debt deal (Washington
Post) [ Ah, yes! Sweet Mr. Milbank. Friend to the Gipper and the new democratic
party. His pain is our pain. Let us join him in tears. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! The Daily Market Report
Aug 1st, 2011 PG
‘Relief? What Relief? http://www.usagold.com/cpmforum …Late
last night when party leaders and the President announced that they had reached
a bipartisan deal that would allow the debt ceiling to be raised, gold dropped
about 1%. Global stocks rallied in relief and briefly, ever so briefly, gold
was out of favor…CBO scores the package as accomplishing $2.1 trillion in
spending cuts over the next 10-years, the CBO baseline also has the deficit
rising $6.7 trillion over the same period. The premise apparently being that
we’re working our way to actual cutting by cutting to slow the pace of the nation’s
proliferate spending. In actuality — and as evidenced below — that CBO baseline
may prove to be way too optimistic. What really lit an intraday fire under gold
today was the big miss on US July ISM, which plunged to 50.9. The market was
expecting a modest downtick to 55.0 from 55.3 in June…’ The
Truth About The Debt Deal: It’s Pretty Much Meaningless Business Insider/ Come on! Who believes their pre-election year data, reports,
b***s***? There’s desperation in the air and like never before! One
commentator, Peter Shiff, to Frank Motek of 1070am Bus.Report references the
sham in Washington; and regardless, points to default by way of inflation,
further stating that the debt ceiling’s already been breached by borrowing.
Moreover, he additionally states that default is inevitable by way of
inflation; that the fed will be buying the evermore worthless american paper
(bonds) and creating/printing evermore worthless american dollars; that there’s
been a quid pro quo with at least one of the 3 (S&P, Moody’s, Fitch)
federal licensed rating agencies, viz., of reaffirming the u.s. AAA rating in
return for no prosecution surrounding their role in the S&P AAA rated
worthless (fraudulent, mortgage-backed, derivative) paper securities (fraud)
giving rise to the previous leg of this continuing, ongoing debacle / crisis.
He finally goes on to recommend non-u.s., non-dollar denominated assets,
precious metals, and alternate currencies. This
is still a great opportunity to sell / take profits since there’s much, much
worse to come! Initial
unemployment claims
rise to 418000 - Jul.
21, 2011 which bad news sparked wall street rally … what total
b***s***. No budget deal, celebrated Greek Plan – DEFAULT! … sounds like a
plan!…, backward looking earnings results … riiiiight! Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon / Tech up today? Absolute confirmation of
dire prospects worldwide since american tech is horrendous. Yet, sizzling
‘child’s play’ is the order of the day and credit still must be given to those
[ie., Steve Jobs-I’m truly glad he saved Apple, my first computer (apple IIc
for word processing / data based records/forms/templates/data which I
interfaced with an electric typewriter for letter quality)] who could (as he)
identify such novelties as the biggest over-priced / over-valued sensations
since the hoola hoop (hoopla hoop - which were pretty cheap and with some minor
health benefits to boot).Take this run-up as a gift based on fraudulent wall
street b***s*** alone and take this opportunity to sell / take profits / ‘sell
today if you missed in may and then go away’! Nothing has been solved; maybe
forestalled. This is the umpteenth rally based upon the ‘solution’. The
ubiquitous problems make the notion of a ‘Gordian Knot’ a mere tinker toy in
comparison. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. Maierhofer: ‘USA INCOME
STATEMENT:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
BALANCE SHEET: Consensus estimates for unfunded obligations
vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross
estimates the unreported debt to be $75 trillion, while other estimates exceed
$100 trillion (these amounts are insurmountable) …’ Davis ‘This is how we pay off
our current debts and I think bondholders are simply happy to get anything out
of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes
closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The
funniest thing about this (and you have to laugh) is to see Conservative
pundits get on TV and talk about how we need to cut $100Bn worth of
discretionary spending to "fix" this (while continuing to spend $1Tn
on the military and $1Tn on tax cuts for the top 1% each year). There is no
fixing this and even a Republican said you can’t fool all of the people all of
the time.). IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know it / feel it! Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell
Deal
risks compromising growth Debt-ceiling deal could avert a financial crisis
but would threaten to aggravate economic problems.
(Washington
Post) [ Wake up! The old days are
irrevocably over! Market reaction? Who cares should be their knowledgeable
response. Reason? Though good for the stock market, bad for the economy.
Example: QE 1 & 2 – good for the stock market but bad and far too costly
for ‘main street’ and the economy. Another example: If the massive trillion
dollar wall street frauds were prosecuted and disgorgement imposed, the market
would indeed initially go down in manipulated fashion; but , the economy
(confidence, detererrent) would be helped (and deficits lessened) thereby and
ultimately go up on fundamentals. The stock market’s disconnect from the
economy and finance generally has been noted for quite some time. What good for
them, has not been and is not good for you. Yeah, your 401k (if you have one)
might gain an extra buck this year; but, your pink slip will be in by the end
of the same year, if your company’s still in business. And to quote Boehner’s
concern with ‘doing a deal before the Asian markets open’, I would say, ‘If
you’re that concerned, borrow less, spend less, tax the top 1% more, engage in
war less.’ That was preposterous!
Mapping
the Myths of the U.S. Economy - Stacy
Curtin ‘In The Real State of America
Atlas: Mapping the Myths and Truths of the United States, authors Cynthia Enloe and Joni Seager paint a vivid
picture of life in the U.S., using a series of charts, graphics and short
essays that cover almost every aspect of the nation's economy and society as a
whole.
Not only do they give
state-by-state comparisons, they show how the U.S. measures up to the rest of
the world in areas such as health care, housing and defense. But while
analyzing what it's really like to live in the U.S. today, they also uncovered
a few "myths and truths" as the title of the book suggests.
Enloe and Seager joined
The Daily Ticker's Aaron Task to share three of the most surprising
misconceptions they uncovered.
#1 Land of
Homeowners
The dream of owning a
home is actually more the reality in other countries. In the book, the authors
point to the most recent data, which show only 68% of Americans owned their
home in 2002, compared with 92% in Hungry, 84% in Mexico, 72% in the U.K. and
71% in Australia.
"One of the things
that is a cherished notion about America is we are a nation of homeowners, and
homeownership has long been seen as kind of the bedrock of the American dream,"
says Seager. "I think the current economic crisis and the housing crisis
is really shaking that American cherished view of ourselves as having easy
access to homeownership."
This is evident in
another stat laid out in the book, which shows 83% of people agreed that buying
a home was a safe investment in 2003, compared with 70% in 2010. (See: Why
I Am Never Going to Own a Home Again)
#2 Land of
Opportunity
Just like the ideal of
owning a home, opportunity in this country is now also on the brink.
"Opportunity in
this country means a chance for an education … [and] a chance for a decent job
that allows you to have a decent life," says Enloe, who points to two key
factors that hinder people making it here in America.
#3 Land of Givers
While the U.S. does give
more money in foreign aid than any other country in the world, as a percentage
of GDP it falls way behind many other nations.
Whereas Sweden gives
almost 1% of its GDP in 2008, the U.S. gave 0.19%.
"I think it really
should shake Americans' self-perception of two things," says Enloe.
"[One] is cutting foreign aid actually the ticket to balancing the budget,
but also how do we shape up compared to other countries' generosity?" ’
. My own direct experience with the region(s)
(particularly new jersey, new york, virginia, connecticut, california) carves
out no exception for the prevalence of the worst of human nature; which is now
collectively and pervasively americana. Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Ezra
Klein:What if it’s
Democrats, not Republicans, who will prefer the trigger to a deal on the debt
ceiling. (Washington Post) [ What if your grandmother had wheels … she’d be a
trolley car of course! Let’s get real here. What does it matter? The point is
that such ‘triggers’ leave at least some wiggle room for the pols while at the
same time providing multiple spin scenarios; yet, while people mentally
masturbate over such nuances of ‘meaningless phenomenology’ also known as
beltway politics, the real question is, ‘does this solve the problem?’. My
unequivocal answer is, ‘no it does not!’ The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! The Daily Market Report
Aug 1st, 2011 PG
‘Relief? What Relief? http://www.usagold.com/cpmforum …Late
last night when party leaders and the President announced that they had reached
a bipartisan deal that would allow the debt ceiling to be raised, gold dropped
about 1%. Global stocks rallied in relief and briefly, ever so briefly, gold
was out of favor…CBO scores the package as accomplishing $2.1 trillion in
spending cuts over the next 10-years, the CBO baseline also has the deficit
rising $6.7 trillion over the same period. The premise apparently being that
we’re working our way to actual cutting by cutting to slow the pace of the nation’s
proliferate spending. In actuality — and as evidenced below — that CBO baseline
may prove to be way too optimistic. What really lit an intraday fire under gold
today was the big miss on US July ISM, which plunged to 50.9. The market was
expecting a modest downtick to 55.0 from 55.3 in June…’ The
Truth About The Debt Deal: It’s Pretty Much Meaningless Business Insider/ Come on! Who believes their pre-election year data, reports,
b***s***? There’s desperation in the air and like never before! One
commentator, Peter Shiff, to Frank Motek of 1070am Bus.Report references the
sham in Washington; and regardless, points to default by way of inflation,
further stating that the debt ceiling’s already been breached by borrowing.
Moreover, he additionally states that default is inevitable by way of
inflation; that the fed will be buying the evermore worthless american paper
(bonds) and creating/printing evermore worthless american dollars; that there’s
been a quid pro quo with at least one of the 3 (S&P, Moody’s, Fitch)
federal licensed rating agencies, viz., of reaffirming the u.s. AAA rating in
return for no prosecution surrounding their role in the S&P AAA rated
worthless (fraudulent, mortgage-backed, derivative) paper securities (fraud)
giving rise to the previous leg of this continuing, ongoing debacle / crisis.
He finally goes on to recommend non-u.s., non-dollar denominated assets,
precious metals, and alternate currencies. This
is still a great opportunity to sell / take profits since there’s much, much
worse to come! Initial
unemployment claims
rise to 418000 - Jul.
21, 2011 which bad news sparked wall street rally … what total
b***s***. No budget deal, celebrated Greek Plan – DEFAULT! … sounds like a
plan!…, backward looking earnings results … riiiiight! Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon / Tech up today? Absolute confirmation of
dire prospects worldwide since american tech is horrendous. Yet, sizzling
‘child’s play’ is the order of the day and credit still must be given to those
[ie., Steve Jobs-I’m truly glad he saved Apple, my first computer (apple IIc
for word processing / data based records/forms/templates/data which I
interfaced with an electric typewriter for letter quality)] who could (as he)
identify such novelties as the biggest over-priced / over-valued sensations
since the hoola hoop (hoopla hoop - which were pretty cheap and with some minor
health benefits to boot).Take this run-up as a gift based on fraudulent wall
street b***s*** alone and take this opportunity to sell / take profits / ‘sell
today if you missed in may and then go away’! Nothing has been solved; maybe
forestalled. This is the umpteenth rally based upon the ‘solution’. The
ubiquitous problems make the notion of a ‘Gordian Knot’ a mere tinker toy in
comparison. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. Maierhofer: ‘USA INCOME
STATEMENT:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
BALANCE SHEET: Consensus estimates for unfunded obligations
vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross
estimates the unreported debt to be $75 trillion, while other estimates exceed
$100 trillion (these amounts are insurmountable) …’ Davis ‘This is how we pay off
our current debts and I think bondholders are simply happy to get anything out
of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes
closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The
funniest thing about this (and you have to laugh) is to see Conservative
pundits get on TV and talk about how we need to cut $100Bn worth of
discretionary spending to "fix" this (while continuing to spend $1Tn
on the military and $1Tn on tax cuts for the top 1% each year). There is no
fixing this and even a Republican said you can’t fool all of the people all of
the time.). IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know it / feel it! Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell http://www.albertpeia.com/inflationcalculator.htm Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To
Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis.
Once again I see all the
“canaries in the mine,” which warned of the 2008 crisis. My just released
book, Financial Apocalypse , provides the clues and the road map, with charts, of
how my indicators successfully predicted the meltdown that occurred in
the fall of 2008. This book is a guide for detecting the next crisis whenever
it occurs. History repeats, or at minimum, it rhymes.
My work shows that “the
new recession has started.” The May 9 issue of the Wellington
Letter was headlined:
“Return of the Double-Dip.” At the time, economists were looking for a
great economy in the second half. Now they talk about a “soft patch.”
Over the past 33 years, we have called the start of every recession, often on
the exact month, or within one month, of the official start as determined one
year later by the official arbiter of recession, the National Bureau of
Economic Research (NBER).
How can we be in
recession now when the GDP still shows growth? Because of improper inflation
adjustments. “Real” GDP growth, the headline number, is nominal growth minus
the rate of inflation. However, inflation is far understated for political
reasons.
Currently, the GDP
deflator is 1.8%, which hardly reflects the true rise in prices. Therefore,
what is counted as “growth,” is actually price increases. Actual inflation,
according to free market economists who calculate inflation as it was done in
1980 before the politician re-engineered it, is now more than 11%. Using that
to adjust GDP for inflation, would show that the economy is now in a very sharp
contraction.
When the current
euphoric earnings forecasts of Wall Street finally reflect that via significant
“earnings downgrades,” the stock market will see a serious “adjustment” as
well.
On July 18, Goldman
Sachs (GS)
substantially lowered its economic growth forecast. Marketwatch.com had this
headline: Goldman Sachs slashes Economic Forecasts. The next step will be for them to substantially
reduce earnings forecasts for the S&P 500.
Will the phase II be as
bad as the 2008 crisis? The last crisis was confined to the private sector,
i.e. financial institutions. The next one will be involve the threatened default
of entire countries. The last time, the central banks bailed out the financial
firms and even Warren Buffett bailed out several firms. Who is big enough to
bail out entire countries? Or will the term of “too big to fail” turn to “too
big to bail?”…’
Top 3
Reasons Markets Were Down on Debt Deal and a Weak Manufacturing Report Wall
St. Cheat Sheet ‘August 1, 2011, Markets closed down on Wall Street today: Dow -0.09%
, S&P -0.41% , Nasdaq -0.43% , Oil -0.50% , Gold -0.57 % .
On the commodities
front, Oil fell to $95.22. Precious metals also fell, with Gold down to
$1,621.90 an ounce and Silver down 1.85% to $39.37 an ounce.
Don’t Miss:
The
U.S. Debt Deal: Your Cheat Sheet to the Framework.
Today’s markets were
down because:
1) DEBT CEILING. Last
night President Obama announced that negotiators from both parties and both
chambers of Congress had reached
a compromise on a debt proposal. But as leaders try to sell the deal to
their peers, it’s looking like it might be a close vote. The House is currently
hearing from both the bill’s supporters and its opposition, which comes in the
form of both liberal and conservative representatives. Polls showed that most
Americans wanted a deal that placed some of the burden of balancing the budget
on taxes, if only on the wealthy, rather than focusing solely on spending cuts
as the deal does. All of that leads to a less than optimistic turnout at the
markets despite what should have been a huge sigh of relief.
2 ) MANUFACTURING. While
news of a likely debt ceiling solution might have given markets a boost in the
absence of any truly negative data, we’ll never know, as the ISM Manufacturing Report released before the markets opened
today showed that growth in the sector slowed to a snail’s pace in July, not
just in the U.S. but globally.
3) HEALTHCARE. Taking a
huge beating today were healthcare stocks, down on fears that cuts to Medicare
would reduce revenue for everything from drug companies like Pfizer to
healthcare providers like Humana . Healthcare stocks were down across the
board, despite many positive earnings reports last week. Keep your eye on these
top healthcare stocks as the debt deal unfolds: Johnson & Johnson , Pfizer
Inc. , Bristol Myers Squibb Co. , GlaxoSmithKline plc , Sanofi-Aventis SA , Eli
Lilly & Co. , Abbott Laboratories , Teva Pharmaceutical Industries Ltd ,
and Novartis AG …’
Debt
Deal Yields More Debt: Dave's Daily at
TheStreet ‘If the founders could only see what's happening now
they'd be disgusted and mighty pissed off! This is hardly a market headline now
is it? Well, you won't see it anywhere else but my sense is most people are
feeling as Father George would feel right now. We did, or are getting, the debt
ceiling relief everyone was worried and fixated upon. We'll get a vote in the
Congress after 6-7 PM EDT. On the news of this last night, markets in Asia
rallied. I was watching breathless and excited Bloomberg anchors in Asia
cheering markets. Markets opened higher in the U.S. but quickly turned south as
the important ISM Data missed consensus forecasts badly (50.9 vs 54.6
expected). This shows the economy is still contracting. The sell-off continued
until we tagged the all-important 200 day moving average in several sectors,
and with conditions much oversold, we rallied. The intraday DJIA sported a 280 point intraday
swing. Nobody is paying much attention to earnings news overall since the
focus is on debt and the economy. Gold fell, then rallied and fell again
modestly as nervousness remains high. The dollar rallied against the euro and
other currencies as the rubber band was stretched too far and Bucky was at
critical support. Commodities rallied early but then fell after ISM data pointed toward weak demand.
Bonds continued to rally despite ongoing debt and debt ceiling debate…’
Mapping
the Myths of the U.S. Economy - Stacy
Curtin ‘In The Real State of America
Atlas: Mapping the Myths and Truths of the United States, authors Cynthia Enloe and Joni Seager paint a vivid
picture of life in the U.S., using a series of charts, graphics and short
essays that cover almost every aspect of the nation's economy and society as a
whole.
Not only do they give
state-by-state comparisons, they show how the U.S. measures up to the rest of
the world in areas such as health care, housing and defense. But while
analyzing what it's really like to live in the U.S. today, they also uncovered
a few "myths and truths" as the title of the book suggests.
Enloe and Seager joined
The Daily Ticker's Aaron Task to share three of the most surprising
misconceptions they uncovered.
#1 Land of
Homeowners
The dream of owning a
home is actually more the reality in other countries. In the book, the authors
point to the most recent data, which show only 68% of Americans owned their
home in 2002, compared with 92% in Hungry, 84% in Mexico, 72% in the U.K. and
71% in Australia.
"One of the things
that is a cherished notion about America is we are a nation of homeowners, and
homeownership has long been seen as kind of the bedrock of the American
dream," says Seager. "I think the current economic crisis and the
housing crisis is really shaking that American cherished view of ourselves as
having easy access to homeownership."
This is evident in
another stat laid out in the book, which shows 83% of people agreed that buying
a home was a safe investment in 2003, compared with 70% in 2010. (See: Why
I Am Never Going to Own a Home Again)
#2 Land of
Opportunity
Just like the ideal of
owning a home, opportunity in this country is now also on the brink.
"Opportunity in
this country means a chance for an education … [and] a chance for a decent job
that allows you to have a decent life," says Enloe, who points to two key
factors that hinder people making it here in America.
#3 Land of Givers
While the U.S. does give
more money in foreign aid than any other country in the world, as a percentage
of GDP it falls way behind many other nations.
Whereas Sweden gives
almost 1% of its GDP in 2008, the U.S. gave 0.19%.
"I think it really
should shake Americans' self-perception of two things," says Enloe.
"[One] is cutting foreign aid actually the ticket to balancing the budget,
but also how do we shape up compared to other countries' generosity?" ’
Debt
Deal Is A Blank Check at Forbes
U.S.
Economic Pessimism Grows - Stacy
Curtin ‘While Democrats
and Republicans were arguing over how to prevent the U.S. from a default,
families across the country have become increasingly concerned about the
overall state of the economy, according to the American Enterprise
Institute's latest compilation of recent polls taken in various regions.
Friday's worse than
expected GDP numbers only reaffirm this notion. The U.S. economy grew less than
expected in the second quarter at 1.3%, but the bigger shock came after Q1 GDP
was revised down to 0.4% from 1.9%. These numbers suggest the country could be
headed for another recession and Americans are definitely feeling the pain. (See: 2011
Is Proving to Be a Horrible Year For the Economy)
One of the most
disconcerting findings in the AEI report is a CBS/New York Times poll from
June. It showed that over the last year, more Americans have come to believe
the current economic downturn is part of a long-term permanent decline and that
the economy will never fully recover. In October 2010, 28% of respondents
agreed with that statement, versus 39% last month.
"Americans are so
pessimistic about the economy now ... . And the level of public pessimism is
actually higher than the deep 1981-82 recession overall," due to grim
personal outlooks on a number of issues like jobs, retirement and health care,
says Karlyn Bowman, a senior fellow
at AEI who co-authored the report. "Their negative sentiments are
affecting the way they feel about their family's future, and interestingly, the
way they feel about their state governments. Usually negative attitudes about
the national government don't seep into attitudes about the state government,
but this time it is really different. This negative, gloomy mood is pervasive.
Speaker of the House
John Boehner echoed these concerns Thursday before one of the many failed House
votes to raise the country's debt ceiling. "This is a challenging time for
our country," he said. "Americans are worried about their jobs.
They're worried about our economy. And they're worried about our debt."
Since the polls in the
report were conducted before the debt-ceiling debate really began heating up
over the last few weeks, one might conclude that if the same questions were
asked today the responses would be even more pessimistic.
Here are other key
findings from the AEI report:
Job anxiety: In the past six months, about 5% of Americans
surveyed had lost their job, two in 10 said a family member had lost a job, and
six in 10 knew someone who lost a job.
In June 2011, 58 percent
were very or somewhat worried they could lose a job in the next 12 months.
Nearly eight in 10 say jobs are difficult to find where they live. Around a
quarter are worried about benefit or pay cuts.
Cutting back: Americans are cutting back on everything from health
care to haircuts. Fewer than four in 10 say their personal financial situation
is in excellent or good shape right now. Almost as many people say they are
falling behind as believe they are getting ahead, but the vast majority
describe their financial situation as having just enough money to maintain
their standard of living. Inflation worries are high and steady.
Retirement: There's been a dramatic drop in the number of
Americans who say they have enough money to retire. In 2002, around six in 10
believed they would have enough money. In the latest survey by Gallup in April,
only about four in 10 say they will.’
10
Reasons We Are Heading for a Recession
The Daily Market Report
Aug 1st, 2011 12:01 by PG Relief?
What Relief? http://www.usagold.com/cpmforum
Late last night when party leaders and the President announced
that they had reached a bipartisan deal that would allow the debt ceiling to be
raised, gold dropped about 1%. Global stocks rallied in relief and briefly,
ever so briefly, gold was out of favor. However, as the details were revealed,
doubts were reignited: Doubts as to whether such legislation could actually
make it to the President’s desk. Doubts that the deal would avert a downgrade
of US sovereign debt.While the CBO scores the package as accomplishing $2.1 trillion
in spending cuts over the next 10-years, the CBO baseline also has the deficit
rising $6.7 trillion over the same period. The premise apparently being that
we’re working our way to actual cutting by cutting to slow the pace of the
nation’s proliferate spending. In actuality — and as evidenced below — that CBO
baseline may prove to be way too optimistic.What really lit an intraday fire
under gold today was the big miss on US July ISM, which plunged to 50.9. The
market was expecting a modest downtick to 55.0 from 55.3 in June. On the heals
of last week’s much weaker than expected quarterly GDP data, it has become
abundantly apparent that the US economy has slowed to just above stall-speed.
David Rosenberg, chief economist at Gluskin Sheff and Associates, noted last
week that once the economy slows to a growth rate of 1.6% it has proven
historically to be a “point of no return” and recession follows. With Q1
downgraded to just 0.36% and Q2 an anemic 1.3% — and likely subject to future
negative revision as well — the writing may well be on the wall.The debt deal
is a short-term kick of the can that at least initially focuses on spending
cuts. However, with no mitigation of the uncertainties that have kept private
capital sidelined for the past two-years of the so-called recovery, there is
little reason to think that a more robust economy is just around the corner. In
fact, the opposite may be true. That realization, tipped in by the ISM data,
has further escalated the QE3 talk, which prompted gold to retest the record
high set Friday at 1632.39. Relief? What relief?If we get another negative
surprise on Friday when July nonfarm payrolls comes out, as the ISM employment
index suggests we might, the QE3 talk will intensify ever more in the weeks
ahead of the Fed’s Jackson Hole summit. Consensus on July payrolls are running
around +100k, although we could see some tempering of those expectations in
light of the ISM data.Even with the announcement of the debt ceiling deal, the
dollar remains on the ropes, falling to new record lows against the Swiss franc
and the yen. If this deal
makes it through both Houses of Congress and is signed by the President, it is
just another kick of the can — and a very short one at that — down the road.
And with the specter of yet another round of quantitative easing hanging over
the market, there is little incentive to buy dollars. Now the BoJ is once again
contemplating direct intervention in the market, as I suspect the SNB is. If
there are concerted efforts to slow the rise of these currencies, it may make
gold an even more alluring option.’
[video]
ISM Sparks Selling at TheStreet.com
Poor
Manufacturing Report Knocks Stock ETFs ETF
Trends
Minyanville's
T3 Daily Recap: Dow Swings 284 Points Despite Debt Deal at Minyanville
Mid
Cap Selloff: Does it Signal the End of the Bull Market? at The Wall Street Journal ‘ “This is the end of the run,” says Peter
Boockvar, an equity strategist at Miller Tabak + Co. in New York.’
NY Fed’s gold
hoard worth $350 billion AFP
| The biggest single pile of gold on the planet lies beneath the New York
branch of the US Federal Reserve Bank.
Bulldoze: The New
Way To Foreclose TIME
| Banks have a new remedy to America’s ailing housing market: Bulldozers.
The
Truth About The Debt Deal: It’s Pretty Much Meaningless Business Insider | The debt deal
actually cuts almost nothing now–it just promises future cuts.
Soaring
demand spotlights secret NY gold hoard AFP | Gold prices hit a record
$1,632.8 an ounce Friday.
Ron
Paul: Freeze the Budget and Stop Plundering the American People! Ron Paul |
Texas Straight Talk.
Now We
Return To The REAL Crisis In The World Business Insider | Real problems.
China’s
Answer To Inflation: SkyNet – Foxconn Plans To Replace Workers With Millions Of
Robots Zero Hedge | SkyNet has taken over the market.
Senate
blocks House Republicans’ debt plan House GOP leaders won narrow
approval of a plan to raise the federal debt limit Friday after revising
the measure to appeal to rebellious conservatives, but it was quickly rejected
by the Senate, where lawmakers were pursuing a separate, bipartisan agreement.
(Washington Post) [Maierhofer: ‘USA INCOME STATEMENT:Total
federal spending in 2010 amounted to $3.456 trillion. Total receipts added up
to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011
federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA BALANCE SHEET:
Consensus estimates for unfunded obligations vary. Mary Meeker pegs the
shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to
be $75 trillion, while other estimates exceed $100 trillion (these amounts are
insurmountable) …’ Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time.). America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
U.S.
economy slows sharply Cutbacks by state and local governments helped
restrict economic growth to anemic levels. (Washington Post) [ See! All that
money into ultimately wall street’s pockets at taxpapayer expense did work …
for the frauds on wall street … Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator infra – and
that’s just the government (inflation) numbers … reality is much worse!}
Meanwhile, the frauds on wall street are churnin’ and earnin’ like never before
at lightning computerized speeds enabling the high-frequency trades that are
commissioned in unprecedented large volumes; a big net negative in real
economic terms.] While
Washington Fiddled The Economy Burned at
Forbes [ Oh come on! Let’s get real here! The economy was already burning (see
infra), Washington notwithstanding! Indeed, the frauds on wall street with
those contraindicated paper stock computer programmed commissioned
churn-and-earn rallies would love for you to think it’s Washington only {that
aw shucks, coulda’ been clear sailin’ otherwise moment; but the reality is that
things are far more dire financially and economically than their window-dressed
scams would indicate, though washington’s no help, incompetent,
unknowledgeable, and ineffectual as they are (although fraudulent wall street,
aside from their consummate scammin’, is little better and probably overly
relied upon and light in those very areas one would expect to find profiency;
viz., finance and economics.) Most importantly, realize that if wobama’s
actions had not belied his words/campaign promises, the nation’s position,
though still ominous, would have been substantially improved.} ]
Check out this inflation calculator: http://www.albertpeia.com/inflationcalculator.htm
http://www.albertpeia.com/inflationcalculator.htm Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To
Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis.
Once again I see all the
“canaries in the mine,” which warned of the 2008 crisis. My just released
book, Financial Apocalypse , provides the clues and the road map, with charts, of
how my indicators successfully predicted the meltdown that occurred in
the fall of 2008. This book is a guide for detecting the next crisis whenever
it occurs. History repeats, or at minimum, it rhymes.
My work shows that “the
new recession has started.” The May 9 issue of the Wellington
Letter was headlined:
“Return of the Double-Dip.” At the time, economists were looking for a
great economy in the second half. Now they talk about a “soft patch.”
Over the past 33 years, we have called the start of every recession, often on
the exact month, or within one month, of the official start as determined one
year later by the official arbiter of recession, the National Bureau of
Economic Research (NBER).
How can we be in
recession now when the GDP still shows growth? Because of improper inflation
adjustments. “Real” GDP growth, the headline number, is nominal growth minus
the rate of inflation. However, inflation is far understated for political
reasons.
Currently, the GDP
deflator is 1.8%, which hardly reflects the true rise in prices. Therefore,
what is counted as “growth,” is actually price increases. Actual inflation,
according to free market economists who calculate inflation as it was done in
1980 before the politician re-engineered it, is now more than 11%. Using that
to adjust GDP for inflation, would show that the economy is now in a very sharp
contraction.
When the current
euphoric earnings forecasts of Wall Street finally reflect that via significant
“earnings downgrades,” the stock market will see a serious “adjustment” as
well.
On July 18, Goldman
Sachs (GS)
substantially lowered its economic growth forecast. Marketwatch.com had this
headline: Goldman Sachs slashes Economic Forecasts. The next step will be for them to substantially
reduce earnings forecasts for the S&P 500.
Will the phase II be as
bad as the 2008 crisis? The last crisis was confined to the private sector,
i.e. financial institutions. The next one will be involve the threatened
default of entire countries. The last time, the central banks bailed out the
financial firms and even Warren Buffett bailed out several firms. Who is big
enough to bail out entire countries? Or will the term of “too big to fail” turn
to “too big to bail?”…’
Stocks
post worst week in one year Concerns over the stalled debt talks in
Washington finally take a noticeable toll on the markets. (Washington Post) [The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Come on! Who believes their
pre-election year data, reports, b***s***? There’s desperation in the air and
like never before! One commentator, Peter Shiff, to Frank Motek of 1070am
Bus.Report references the sham in Washington; and regardless, points to default
by way of inflation, further stating that the debt ceiling’s already been
breached by borrowing. Moreover, he additionally states that default is
inevitable by way of inflation; that the fed will be buying the evermore
worthless american paper (bonds) and creating/printing evermore worthless
american dollars; that there’s been a quid pro quo with at least one of the 3
(S&P, Moody’s, Fitch) federal licensed rating agencies, viz., of
reaffirming the u.s. AAA rating in return for no prosecution surrounding their
role in the S&P AAA rated worthless (fraudulent, mortgage-backed,
derivative) paper securities (fraud) giving rise to the previous leg of this
continuing, ongoing debacle / crisis. He finally goes on to recommend non-u.s.,
non-dollar denominated assets, precious metals, and alternate currencies. This
is still a great opportunity to sell / take profits since there’s much, much
worse to come! Initial
unemployment claims
rise to 418000 - Jul.
21, 2011 which bad news sparked wall street rally … what total
b***s***. No budget deal, celebrated Greek Plan – DEFAULT! … sounds like a
plan!…, backward looking earnings results … riiiiight! Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator infra – and
that’s just the government (inflation) numbers … reality is much worse!}
Meanwhile, the frauds on wall street are churnin’ and earnin’ like never before
at lightning computerized speeds enabling the high-frequency trades that are
commissioned in unprecedented large volumes; a big net negative in real
economic terms.] While
Washington Fiddled The Economy Burned at
Forbes [ Oh come on! Let’s get real here! The economy was already burning (see
infra), Washington notwithstanding! Indeed, the frauds on wall street with
those contraindicated paper stock computer programmed commissioned
churn-and-earn rallies would love for you to think it’s Washington only {that
aw shucks, coulda’ been clear sailin’ otherwise moment; but the reality is that
things are far more dire financially and economically than their window-dressed
scams would indicate, though washington’s no help, incompetent,
unknowledgeable, and ineffectual as they are (although fraudulent wall street,
aside from their consummate scammin’, is little better and probably overly
relied upon and light in those very areas one would expect to find profiency;
viz., finance and economics.) Most importantly, realize that if wobama’s
actions had not belied his words/campaign promises, the nation’s position,
though still ominous, would have been substantially improved.} ] Check out this inflation calculator:
http://www.albertpeia.com/inflationcalculator.htm
National / World
U.S.
review finds Iraq more dangerousSpecial inspector general cites increased
attacks on U.S. troops and a wave of assassinations. (Washington Post) [ You
mean they’re not showing their love? Who woulda’ thunk it? After all, the u.s.
has destroyed their country, killed many innocent women and children, filled
the land with depeted uranium, etc., all based on a lie … How ungrateful. See,
when america’s involved, ‘no bad deed goes punished’! Oh, riiiiight, almost …
as corrected by the ‘u.s. ministry of propaganda’, ‘no good deed goes
unpunished’. Sounds like a plan! One of those pervasively corrupt, defacto
bankrupt american plans … riiiiight! Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | ..bush prepared
to invade Iraq in 2002..likely cost would be $60 billion, said Mitch Daniels of
the OMB..finance the war with Iraqi oil,said Wolfowitz..the cost of the Iraq
War? It has passed $1 trillion..’, etc..
.). America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Treasury
prepares contingency plans Agency is making tough calculations as it plans
to keep the government operating in case of default. (Washington Post) [ Oooh!
Sounds like a plan! Yet, given the nation’s defacto bankruptcy, insurmountable
debt (and importantly, lack of will to change the plunge into the abyss), and
defacto default, one can only wonder whether ‘such dogs as these’ still hunt. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. Maierhofer: ‘USA INCOME
STATEMENT:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
BALANCE SHEET: Consensus estimates for unfunded obligations
vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross
estimates the unreported debt to be $75 trillion, while other estimates exceed
$100 trillion (these amounts are insurmountable) …’ IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know it / feel it! The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! Come on! Who believes their pre-election year data, reports,
b***s***? There’s desperation in the air and like never before! One
commentator, Peter Shiff, to Frank Motek of 1070am Bus.Report references the
sham in Washington; and regardless, points to default by way of inflation,
further stating that the debt ceiling’s already been breached by borrowing.
Moreover, he additionally states that default is inevitable by way of
inflation; that the fed will be buying the evermore worthless american paper
(bonds) and creating/printing evermore worthless american dollars; that there’s
been a quid pro quo with at least one of the 3 (S&P, Moody’s, Fitch)
federal licensed rating agencies, viz., of reaffirming the u.s. AAA rating in
return for no prosecution surrounding their role in the S&P AAA rated
worthless (fraudulent, mortgage-backed, derivative) paper securities (fraud)
giving rise to the previous leg of this continuing, ongoing debacle / crisis.
He finally goes on to recommend non-u.s., non-dollar denominated assets,
precious metals, and alternate currencies. This
is still a great opportunity to sell / take profits since there’s much, much
worse to come! Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon
Happy
birthday, Mr. President GALLERY | Dana Milbank imagines the cards Congress
will send on Aug. 4 to celebrate Obama’s 50th.
(Washington Post) [ Yeah … beyond the overwhelming predominance of hate
mail, I too conjure up an image celebratory of wobama’s 50th with
Mr. Milbank, dressed in drag, with blond wig, pronouncedly darkened mole on
cheek, and in a soft, raspy but sultry, sexy voice singing ‘happy birthday Mr.
President’. I mean, come on … we all know somethin’s goin’ on between them …
you know, kind of a love affair for the ages … Riiiiight! Milbank:
Dealing with the Default Caucus (Washington Post) [ I just love ‘wobama the b’
(for b***s***) apologist in chief, Mr. Milbank. He’s so egalitarian; surprising
all by his colloquial reference to whom one might otherwise consider to be his
political polar opposite, and even political nemesis in the persona of Ronald
Reagan, so tritely referred to by Mr. Milbank as ‘The Gipper’ in whom Mr. Milbank
posits the inspiration, ‘heart and soul’, of ‘the new democratic party’. What
total b***s***! How about everyone, including Mr. Milbank, realizing the dire
predicament facing the nation owing to a now familiar political strategy of
‘kicking the can’ down the road a piece till the problem (insolvency of the
nation) has as now become insurmountable and hence, unsolvable. That’s where
we’re at now! .
Drudgereport: HARRY
BELAFONTE: Obama 'has failed'...
NOONAN:
'HE IS A LOSER'...
GALLUP:
40% APPROVAL...
Obama
takes debt battle to TWITTER, loses more than 33,000 followers...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job...
GALLUP
SHOCK: 'REPUBLICAN' BEATS OBAMA BY 8%
APPROVE:
42%
Return
of Mass Layoffs a Grim Sign...
Dollar
falls to all-time low against Swiss franc...
Obama Threatens Another Veto...
Just
hours after urging compromise...
Carney
Admits Obama Has No Plan...
BALL
IN YOUR COURT, HARRY[, aka Mr. Milktoast, aka Majority Leader of Harry’s Wh*r*
House]!
NO!
22 REPUBLICANS BUCKED BOEHNER...
DC
racing against clock...
Milbank:
Congress is now middle school ‘Anew Washington
Post-ABC News poll finds that 80 percent of Americans are dissatisfied with
the way the federal government is working. Such a finding leads to an
inevitable conclusion: The other 20 percent aren’t paying attention … Ah, sweet
Mr. Milbank. Who said he gets things wrong? Middle school? From Gipper (I
always hated that trite reference to Reagan – and again, let me reiterate that
though I liked Reagan as a very likeable guy, the last real american leader /
president was the underrated but great President General Eisenhower who warned
of the current debacle called america in the sense of admonishing of the danger
inherent to the now entrenched ‘military industrio-inferiority complex’) to
graduation, perma-wobama apologist Mr. Milbank has come a long way; but, a pile
of b***s*** in the form of ‘wobama the b’ stands intractably in his way, no
matter what. Because … ? You can’t change what lamentably wobama is and has proven himself to be. If only he
had done what he promised he would do (those false campaign promises which got
him elected). But alas, as in the moral of the story of the ‘scorpion and the
frog’, you cannot change the nature of that cowardly, failed ‘president’ called
‘wobama the b’. (Washington Post) [The
new party of Reagan The Gipper helps make the case for Democrats.
(Washington Post) [ ‘Well there you go again’ quoting the ‘Gipper’, off the
deep end as one might expect from wobama apologist Mr. Milbank (he’s somewhat
of a lemming himself). After all, how different really are the parties these
days when profligate spending on illegal, unnecessary wars was continued when
democrats controlled congress, and then even the executive office when
continuing failed president and war criminal dumbya bush’s nation bankrupting,
nation destroying war policies, protection for unprecedentedly huge wall street
frauds, bush tax cut extensions for the wealthy, and then some (spending on top
of it). Preposterous! Especially since Reagan’s most significant achievement
was his rational approach toward Russia (with of course the substantial help of
the astute Gorbachev) toward the ameliorative goal of peace and consequent
peace dividend which enabled a ‘smooth-sailing’ though undeserved tenure for ultimately
clinton (cia man ‘poppy the sailor man’ bush was already working on stirring up
war / military industrial complex matters in the Mideast – that April
Glaspie/cia/Iraq/Kuwait communiqué to sadam and the consequent debacle, etc.).
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job...
GALLUP
SHOCK: 'REPUBLICAN' BEATS OBAMA BY 8%
APPROVE:
42%
Return
of Mass Layoffs a Grim Sign...
Dollar
falls to all-time low against Swiss franc...
PUTIN: USA 'parasite' on global economy... [Unfortunately, this is very true. More unfortunately is the fact that most worldwide don’t realize that fact! I mean, think about it: pervasively corrupt, defacto bankrupt america’s cancerous perma wars, over-printed debased ‘Weimar’ paper ‘reserve’ currency, huge frauds in securities and otherwise, etc.. ]
House
approves debt deal -- day before deadline!
Borrowing
to surge after cap raised...
May
not save AAA rating...
BIDEN
[‘Lobotomy Joe’]CALLS TEA PARTY 'TERRORISTS'[ Riiiiight, ‘Lobotomy
Joe’; anything you say joe, now calm down… ]
Manufacturing
drops to lowest level in two years...
'Double
Dip Here'...
RI
Town Files for Bankruptcy...
Dog
Airlifted Out of National Forest After Growing Too Tired to Finish Hike...
[ Just another dog day afternoon in pervasively corrupt, defacto bankrupt
america. ]
SURVEY:
Internet Explorer users have lower IQs...
Obama Threatens Another Veto...
Just
hours after urging compromise...
Carney
Admits Obama Has No Plan...
BALL IN YOUR COURT, HARRY[, aka Mr. Milktoast, aka Majority Leader of Harry’s Wh*r* House]!
SWEAT
CEILING: House approves debt bill...
NO!
22 REPUBLICANS BUCKED BOEHNER...
DC
racing against clock...
HARRY
BELAFONTE: Obama 'has failed'...
NOONAN:
'HE IS A LOSER'...
GALLUP:
40% APPROVAL...
Obama
takes debt battle to TWITTER, loses more than 33,000 followers...
NYT
reporter advises WH staff?
Illegal
Aliens Head South to Mexico in Search of 'American Dream'...
4.9%
unemployment in Mexico vs. 9.4% in US...
Black
Middle Class Eroding As Unemployment Rate Soars...
CHAOS...
CLOCK
TICKING... NO
PANIC...
THE
VOTE: 'TEA PARTY' IN CHARGE!
Boehner
Delays Vote on Debt...
Limbaugh:
We've Been Played...
GALLUP:
Obama Rates Higher Than Boehner, Reid on Debt Situation!
Ron
Paul: 'Default Is Coming'...
Treasury
Contingency Plan on Debt Gives Priority to Bondholders...
Carney: If
We Have No Other Alternative We Will 'Take Action'...
Obama
faces legal bind if time runs out...
PELOSI:
'We're Trying to Save Life on Planet as We Know it'… [ Riiiiight! Keep feeding
those perma wars despite bankruptcy of this nation … Is life as she knows it on
this planet really death? … Why does ‘doo,doo,doo,doo’ to the tune of Twilight
Zone Theme come to mind when hearing her total b***s***?…Oh, riiiiight! She’s
caught wobamanoid fever ] ...
6
days from 'default', both sides scrambling...
FURY
OVER STALEMATE BOILS OVER...
House Dem leader urges Obama to raise debt ceiling without Congressional
approval...
SHOCK
POLL: 46% Think Most in Congress Corrupt...
WASHPOST/ABC:
Blacks, liberals flee in droves...
SANDERS:
Obama should face primary challenger...
The
Immelt Way: WH Advisor on Jobs Moving GE X-Ray Business to China...
OBAMA SECRETLY SIGNALS BANKS: 'NO DEFAULT'...
WH
to FOXNEWS: 'Tell your viewers there's nothing to worry about'...
BORGER:
'Nobody today is talking about tax increases -- except Barack Obama'...
TWT:
Liberals hijacking Reagan to raise taxes...
PANIC:
WH'S PFEIFFER SAYS DEFAULT COULD LEAD TO 'DEPRESSION'...
CA
seeks bridge loan to pay bills...
Guv
OKs financial aid for illegal aliens...
Brazilian
currency at highest level since '99...
USA
Can Avoid Default 'at Least Until September'...
Obama
still pushing for tax hikes...
Endorses
New Plan with 'Sham' Savings...
'Cuts'
include money not spent in Afghanistan over next 10 years...
BOEHNER:
Plan 'full of gimmicks'...
'DOING
THINGS ON MY OWN VERY TEMPTING' [Why would anyone believe or follow
anything ‘wobama the b’ (for b***s***) says when his actions belying his words
have led to this disaster? Hasn’t he ‘done things on his own’ and contrary to
campaign promises leading to this debacle? Indeed, he cannot be trusted! ]
Widest wealth gap between whites, minorities on record … [and
they’re thanking ‘wobama the b’ (for b***s***)] ...
DEPENDANT STATES OF AMERICA: Geithner Warns: 'We Write 80 Million
Checks a Month'...
BOEHNER TO OBAMA: 'CONGRESS WRITES THE LAWS, YOU DECIDE WHAT YOU
WANT TO SIGN'...
...President
'worried about his next election'
...Putin
considering Kremlin return
Pelosi
splits, heads to fundraiser...
CNN:
OBAMA LOSING LIBERALS...
Farm
thieves target grapes, avocados -- even bees...
Thieves
target ambulances...
Thieves
Steal 100 Storm Drain Covers In Sacramento...
RASMUSSEN
SHOCK POLL: Obama 41% Ron Paul 37%...
DEBT
DEAL DEAD...
BOEHNER
WALKS...
Terrorism
shatters peace in home of Nobel prize...
NYT:
'Helpers of Global Jihad' claim...
Fake
cop opens fire at youth camp...
'Tall,
blond, of Nordic looks'...
REUTERS
UPDATE...
BBC
LIVE...
Obama,
Boehner discuss new debt plan... Developing...
PRESSURE:
S&P renews warning...
SCORCH:
HIGH TEMPS TO LAST WEEKS...
Now
covers 1 million sq miles...
NEW
YORKERS WARNED TO EXPECT ROLLING OUTAGES...
Rolling
Blackouts Begin In Detroit...
Fears
mount about 'Big Brother' database in Massachusetts...
Florida
made $63M selling names, addresses, dates of birth...
Latin
America Lectures US over Debt Crisis...
US
talks get 'messy'...
Obama
now open to short-term deal...
Euro
meltdown: Sarkozy jets into Berlin for crisis talks with Merkel...
24
HOURS TO 'SAVE GREECE'...
Ron
Paul: 'We Will Default, Debt Is Unsustainable'...
DEAL:
SENATE HUDDLES TO HIKE TAXES...
Obama
praises...
RESTATES
THREAT TO VETO SPENDING CUTS...
LIBS
EYE DEEP CUTS TO NATIONAL DEFENSE...
Cash-Strapped Connecticut Fire Sale, To Axe 365-Year-Old Ferry, Nation's Oldest...
OBAMA MAKES JOKE; NO ONE LAUGHS...
Gold
Has Longest Run of Gains Since 1980...
Gas
prices on the rise; top $4 in eight states...
Cash-Strapped
SF To Shutter Courtrooms; Lay Off 200 Court Workers (and yet another feinstein?
From direct experience with the superior courts of california, no loss here,
and eliminating them entirely not a bad idea in light of their costly
corruption as in the federal system! )...
DEM
FLASHES RACE CARD IN DEBT DEBATE...[ Oh come on! This jive-talking,
failed ‘president’ has been indulged in every way imaginable and possible (all
those false campaign promises that got him elected, etc.). He may not have been
the first (clinton has been said even by blacks to have been the first ‘black
president’), but he most assuredly is the last black president, fitting every negative
stereotype imaginable including racist hypocrisy. UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
'Only
THIS president has received the kind attacks and disagreements'...
BOEHNER:
HE HAS NO PLAN...
[ It’s true; ‘wobama the b’ (for b***s***) has no plan whatsoever. Ask Mr.
Teleprompter. ]
KRAUTHAMMER:
CALL THE BLUFF!
Feds
Issue Warning After 4 Mailboxes Lifted From Post Offices...
O'DRAMA...
'ENOUGH
IS ENOUGH'...
WALKS
OUT OF WHITE HOUSE MEETING...
'DON'T
CALL MY BLUFF'...
REID
CALLS CANTOR NAMES...
CAMP
DAVID SUMMIT?
BOEHNER:
NO NEED...
MCCONNELL:
GOP won't be 'tax collectors for Obama economy'...
Hometown
congressman tells Obama to 'quit lying'...
PELOSI:
'Almost too busy' to continue debt talks...
GEITHNER:
Out of time...
Cash-Strapped
NYC Fines Man $2,000 -- For Not Watering Beehive?
STUDY:
Black men survive longer in prison than out...
Man
falls into Maui blow hole, disappears...
PRESSURE: MOODY'S PUTS USA ON DOWNGRADE WATCH
Boehner
Rails on Obama: 'Like dealing with Jell-O'...
WH
Cracks Down on Press: No Yelling at Obama Today...
President
'chafes' at unscripted questions...
BERNANKE
BARKS BACK AT PAUL...
Fed May
Launch New Round of Stimulus...
DOLLAR
TUMBLES...
Putin
calls Feds 'hooligans'...
Gold
hits new high...
DEBT
TALKS BREAK DOWN...
McConnell:
Deal Not Possible With Obama … [ I think this shoe fits wobama ...
African-American unemployment at 16% ... (But there’s rationality in this stat
as people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then
there’s the attitude. I truly believe from direct experience that even when
their outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed.) ] ...
'Backup
plan'...
OBAMA
THREATENS TO HOLD UP SOCIAL SECURITY CHECKS
RUBIO:
Every Aspect of Life in America is Worse Since Obama Took Over...
GE
Immelt lectures biz owners: 'Stop complaining about government'...
FLASHBACK:
(GE )Company Paid NO TAXES Last Year...
OBAMA:
LET'S STAY IN IRAQ...
FLASHBACK:
'I intend to remove all U.S. troops from Iraq by the end of 2011'...
KARZAI'S
BROTHER ASSASSINATED IN KANDAHAR...
Gunned
down in home by bodyguard...
'Huge
boost for Taliban'...
Obama
'far apart' from Republicans on debt deal...
Boehner:
Debt Deal Not Imminent...
TORMENT
@ 9.2%
State
and local governments bleeding jobs...
Top
Obama adviser says unemployment won't be key in '12 … (riiiiight!…talk about
wishful thinking and self-delusion)...
BUCHANAN:
DC Establishment 'in Panic'...
S&P
WARNS GREECE OF DEFAULT -- EVEN WITH BAILOUT!
'Impossible
knot'...
SANTELLI:
'The answer is easy: Spend less!'
Italy's
borrowing costs soar...
Berlusconi appeals for national unity and 'sacrifices'...
New
Fears on Italy Jolt Europe...
Soros:
Europeans now need 'plan B'...
Mob
Of Teenage Girls Attacks Minneapolis Mom, 4-Year-Old Daughter...
Air
Conditioner Thieves Hit 7 Churches In Texas...
THEY'RE
HERE! [ Uh! That ‘nausea’ factor; though not nearly of the magnitude
of america’s unctuous duo, ‘wobama the b’ (for b***s***) and michelle his belle
(see infra). After all, the cloyingly cutesy couple from across the pond is
hardly in a position to do damage as are the wobamas. Yet, one must ask: just
what exactly are they? Mascots? Non-emmissary emissaries? Indeed, in this
economy it’s quite embarrassing for members of the so-called commonwealth,
struggling economically and otherwise, england/uk being no exception (royals
wealth’ is ultimately the product of common expense) to be celebrating
celebrity for the sake of nothing more than celebrity. Worse is the pathetic
display here in the defacto bankrupt disunited states (uk not much better and
in many ways worse) relative to their former colonial masters. Then there was
that ostentatious marriage display so well publicized even as the uk’s (eu,
u.s. et als) ‘rank and file’ are sacrificing and the respective nation states
crumbling. Even so-called celebrities here shun such meaningless displays of
themselves and at least serve a cinematic (art form) purpose. Truth be told, I
bear them no ill will; but, I bear them no good will either. After all, quite
simply, they are but a meaningless, extravagantly costly welfare couple that
are simply irrelevant. How pathetic and embarrassing for their fans, followers,
onlookers and their liege. And, though I’m biased (I think Grace Kelly to have
been the most exquisite of creatures to have graced this earth – Alfred
Hitchcock with an eye for such things thought so too and said as much), clearly
Prince Albert of Monaco and his bride’s wedding was tastefully and not
cloyingly about right. Now that’s real royalty via Grace Kelly; with a purpose;
the management / leadership of a prime travel / gambling / entertainment /
resort destination; viz., Monaco. ]
BOEHNER:
Taxes 'off table'...
Debt Talks Turn to Social Security Cuts...
CHARGE:
Bypassing Congress to raise debt would be 'impeachable'...
LONDON
BRIDGES FALLING DOWN:
Coulson 'to be arrested tomorrow'...
Gov't
decision on SKY takeover 'delayed'...
UPDATE:
China warns U.S. officials not to meet Dalai Lama...
CHICAGOLAND:
THIEVES STEAL ENTIRE A/C UNITS FROM HOUSES
UPDATE:
Teen Dead After Beach Brawl...
Wisc
beating victim: 'They just said "Oh, white girl bleeds a lot"'...
US
Lawmakers Accuse DOJ of Cover-up in Botched Gun-Running Op...
CA Prison Shrink Paid $838,706 Last Year...
CA
companies flee state...
No
recession for 454 White House aides: They'll make $37,121,463 this year...
United
States of 'gloom'...
Iran
Ridicules: America is Not Independent...
SHOCK:
Father with HIV raped 6-month-old son...
MEDIA
BLOWS IT, AGAIN...
NANCY
GRACE LEFT SPUTTERING: 'SOMEWHERE OUT THERE, THE DEVIL IS DANCING TONIGHT'...
Attorney:
Case Was 'Media Assassination'...
'Now
you have learned a lesson'...
CBS
host breaks down...
'TOT
MOM' CLEARED BY COURT...
JURY:
NO MURDER!
Only
guilty of lying to cops...
Portugal's
Debt Downgraded to Junk...
CHINA:
USA 'ALREADY DEFAULTING'...
DOLLAR
TO 'LOSE RESERVE STATUS'
Economy
Expected to Have Major Slide in Months Ahead...
NEW
IMF CHIEF FROM CHICAGOLAND...
MARK
HALPERIN CALLS OBAMA 'A DICK' ON LIVE TV...
POLL:
Obama 42%, any
Republican 46%...
Campaign
signals fundraising fail...
UPDATE:
Minnesota Government Shuts Down...
Washington
state closes tourism office...
Florida
state workers get pink slips, more cuts ahead...
FEDS STRIKE DOWN STATE'S BAN ON RACE CONSIDERATION IN COLLEGE ADMISSIONS...
SoCal
Looks to Secede from California...
REPORT:
U.S. Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement
Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
GETTING
NERVOUS
NEWT:
Obama 'most successful food stamp president in American history'...
Palin:
Hollywood stars as 'full of hate'... ["What would make someone be so full of
hate?" palin asks … answer: resistance to someone as dumb and full of
war-mongering hate as she is! ]
REPORT:
NATO forces ARE
trying to assassinate Qaddafi...
Los Alamos under siege from wildfire...
'Throwing absolutely everything at this that we got'...
BLAGO
LIKELY HEADED TO PRISON...
'What
happened?'
But
he gets to keep his hair...
Fitz
finally wins one!
GUILTY
IN CHICAGOLAND...
17
of 20 counts...
Tried
To Sell Obama's senate seat...
Jury
DEADLOCKED on Rahm shakedown...
Blago
to lawyer: 'What happened?'
'Stunned'...
JOBLESS
WEAK: 429,000...
...disappointed
Economic
trouble puzzles Fed chief...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
THE
NEW 'NORMAL'
GALLUP
PLUNGE...
Approval
-4, disapproval +5 -- in one day!
DOWN TO
THIRD: USA 'TO FALL BEHIND INDIA' IN TRADE...
DEM
FIX: MORE SPENDING!
Bernanke
speaks, stocks sink...
FORBES:
'Admits he's clueless'...
CBO:
Long-Term Debt Picture Worsens...
Would
reach 101% of GDP by 2021...
STUDY:
State, local gov'ts must raise taxes $1,400 a year for
30 years to fund pensions...
Millionaires
shrug off downturn; Wealthy richer than before crisis...
Zuckerman:
'We now have more idle men, women than at any time since Great Depression'...
SHOCK
POLL: ONLY 3 in 10 WILL VOTE FOR OBAMA...
66%
say US headed in 'wrong direction'...
Greece
Agrees on New Austerity Plan With EU, IMF...
ANGER
IN ATHENS...
'BLACK
HOLE'...
DEBT TALKS BREAKDOWN; TAX BUST
S&P:
Risk of U.S. credit rating downgrade increased...
Chicago
county faces $108 billion
gap in pensions....
Greek
Streets 'Explosive'...
PM wins
confidence vote 'but outlook remains dire'...
Huntsman
announces presidential bid at Statue of Liberty...
Harry
Reid endorses...
Bachmann
surges to primary lead...
Iraq
hunting $17 billion missing after U.S. invasion...
NATO
NIGHTMARE: 9 CIVILIANS KILLED [NATO strike kills 15 Libyan civilians]
Census:
Whites lose majority among babies...
German
Giant Says US Workers Lack Skills...
PAPER:
AMERICA'S LOST DECADE?
States
look to Internet taxes to close budget gaps...
SPANIARDS
ON MARCH OVER BLEAK PROSPECTS...
House will move this week to limit funding for effort in Libya...
'DON'T
BE SURPRISED IF ATHENS GOES UP IN FLAMES'...
GREEK
PM PLEADS FOR UNITY!
...warns
against default
Threat
to downgrade Italian debt raises contagion fears...
Princess
Diana Conspiracy Movie Headed to Theaters... [ Uh, oh! Time to gear
up the already harsh ‘censors’ in england.
]
Bachmann:
Obama 'has failed' blacks, Hispanics... [ Come on! ‘Wobama the b’
(for b***s*** has failed everyone. ]
Presidential
no-show miffs Hispanics...
African-American
unemployment at 16%... [ But there’s rationality in this stat as
people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then there’s
the attitude. I truly believe from direct experience that even when their
outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed. ]
SHE'S
OFF! (on the road again) Michelle Obama embarks on Africa visit … (stay there!)
...
Michelle Obama Admits: 'Fortunately, We Have Help From The Media'...
CHICAGOLAND:
Rahm's Top Cop Blames Gangs, Crime on 'Gov't-Sponsored Racism'...
Likens
federal gun laws to 'racism'...
Teen
Mob Of 50 Hits Chicago WALGREENS...
Teen
brutally beaten by mob of blacks; cops
mull 'lynching' charge...
Princess
Diana Conspiracy Movie Headed to Theaters... [ British
queen arrives in Ireland Queen Elizabeth II’s visit overshadowed by
security scares. (Washington Post) [ ‘How sweet she is’ … that ‘sweet liz’ …
that is … Diana
film causes stir at Cannes “Unlawful
Killing” has a combination of celebrity, controversy and canny hype-mongering.
(Washington Post) [ Let’s not kid
ourselves … and, Dodi Fayed’s father was no dope and knew the score. Indeed,
it’s not coincidental that William’s the over-riding favorite of granny Liz II;
after all, Harry’s the bastard son of Hewitt (don’t buy into their DNA proffer
which they did buy – you know, that ‘bloodline thing’). Moreover, it was
reported that Diana had another ‘potential challenger in the oven’ at the time
of her death and we all know how dicey such english affairs of state can be
(ie., Henry VIII, Richard III, etc.). Then there’s the contempt of Diana for
having brought the son of her bosom, Chas, down. Do I think she said flat out
‘kill Diana’. No … more of a ‘do what’s necessary’ to mi6 et als. Ultimately,
William will require some substantial therapy to sort out this looming
conflict. After all, Diana was his mother.
Drudgereport: British
woman decapitated in grocery store; killer flees with head... Cannes:
Diana doc slams UK royals as 'gangsters'... ]
Drudgereport: Protesters
burn American flag during Obama visit to Puerto Rico -- a
U.S. territory... [ I find even his retirement costs
objectionable. Obama: My
family is ‘fine’ with one term Politico
| President Barack Obama says his family is “not invested” in a second term.
The unctuous pandering by the wobamas is nauseating. And, michele’s
fundraisers? What’s up with that? Wobama’s such a glomming golem / slug. Obama
says if he were Weiner, he’d resign
President Obama on Monday waded into the debate over whether embattled
Rep. Anthony Weiner should step down, saying, “If it was me, I would resign..Barack Obama: The
Naked Emperor Shocking but true revelations from David Icke| ..Obama is
just more of the same, a big smile with strings attached, and controlled
completely by those that chose him, trained him, sold him and provided his record
funding, kept his many skeletons under wraps, like the gay sex and crack
cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to
be with your Presidential camp, who is alleged to claim that someone claiming
to represent me called asking for $100,000, to keep me from coming forward
about our (Obama and I) November 1999 encounter of sex and cocaine use?), ...
Obama is just another Banksters' moll prostituting himself .., and that's why
he supported the grotesque bail-out of the banking system and why he will
always put their interests before the people. ] http://albertpeia.com/obamadeceptionhighqualityversion.flv
The Week Ahead: More "Bizarro World" Forbes Tom Aspray MoneyShow.com ‘It’s all about the debt-ceiling
debate right now, and mounting fears have caused technical damage that will
take time to resolve. Use any short-lived rally as a chance for selective
selling.
It was a rough week for
the markets this past week, and the week ahead may be no better. Last week,
Senator John McCain used the word “bizzaro” in his description of how the debt
crisis was being handled. It is nice to have one politician who is not afraid
to speak his mind. Comic book fans will remember that Bizarro World was a
fictional, cube-shaped planet from DC Comics (how appropriate!). [ Since the author’s referred to mccain, I’ll say
mccain’s wife’s / extended ‘family’’s portfolios probably took a hit, so as
always, mccain’s ‘up in arms’ and add this here: The Plum Line : McCain erupts: Conservatives are lying
to America (Washington Post) [ Talk
about lies and liars, mccain’s been a total fabrication, since Vietnam
particularly. Keating 5 mcCain’s a total fraud (wealthy by that meyer lansky
crowd, he still collects social security, and takes those congressional raises
he votes for). He is, and always has been, a pathetic loser; which, if you look
around you, the nation is inundated with today!.. Paul
Craig Roberts: Government Abandoned Vietnam POWs Kurt Nimmo | John McCain worked
overtime to make sure Vietnam POWs never came home. I think the even bigger
story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm
‘Did you know that that so-called "american heroe" john mccain was
referred to by his fellow pows in Vietnam as something akin to the
"songbird" inasmuch as he was constantly "singing" to his
Viet-Cong captors to curry favor and better treatment? This has been documented
with authority by Colonel David Hackworth. The same violates military
code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm
] But, you see, this covered up scenario, compromizing the false facade
of far less than a heroe, is exactly what a criminal (lie of a) nation as
america loves and encourages (get everyone's hands dirty so no-one dares to
rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the
(corrupt, propagandized) line", become a criminal, or be exposed,
prosecuted, and/or ruined; and, hasn't anyone asked how "wall street"
has been "spared the spotlight" (and even was accorded protective
legislation from their criminal culpability) and focus of inquiry, attention,
and prosecution despite being the primary beneficiaries financial and otherwise
of these scams (you know the wall street motto, "churn and earn";
huge conflicts of interest if not outright fraud)…’…Oh and they so can afford
it Deficit
panel proposes huge cuts (Washington Post) [ Cuts? (This is from 2010 coupled with the same
foregoing prior post) I heard the corrupt, incompetent lawmakers were giving
themselves a raise. They actually deserve at least a 10% paycut and abolition
of those lifetime appointments / permanent corrupt bureaucracies. Nothing
succeeds like failure and crime in pervasively corrupt, defacto bankrupt
america! ] Lawmakers propose curbs on Social Security, cuts in spending and tax
hikes if long-term goals aren't met. ]
It would be nice if last
week’s action in the financial markets and in Washington, DC was fictitious,
but unfortunately, it was not. The debt crisis weighed on the markets from the
start of last week, and the selling pressure picked up steam as the week
progressed. This week may be just as treacherous.
Another vote is
scheduled for late Friday, but I am not optimistic that it will mean much. In
all likelihood, we will wake up on Monday and still be without a deal.
Investors definitely have started to run scared, as they removed $13.6 billion
from stock mutual funds and ETFs in the first four days of last week.
Institutions are also
nervous, as very short-term T-bill rates have spiked, therefore causing the
yield curve to flatten out. Historically, a flat yield curve is negative for
the economy. Yields on the ten-year T-note dropped to new lows for the year, as
they seem to be the safest haven, after gold.
Though a deal will
eventually be done, what we can’t determine is whether the confidence in the
markets and economic recovery has suffered a fatal hit. A contraction in credit
at this fragile time in the economic recovery could have serious implications.
There has been some
technical damage to the stock market as well, and while the analysis of the
Advance/Decline (A/D) line still suggests that a major top is not complete,
some time is likely needed to repair the damage.
The negative short-term
analysis allows for more selling, and the S&P 500 could drop back to the
March lows, which are more than 3% below Friday’s close.
http://www.moneyshow.com/image.asp?imgSrc=investing/Guru/WA7-29a_large.gif&aid=GURU-23955&scode=012551
Click to Enlarge
A surprise decline in
claims for unemployment insurance was one of the few positives last week. The
much weaker GDP numbers, especially the big downward revision in the first
quarter numbers, hit stocks hard early Friday.
These numbers did not
help make the dollar more attractive, as the dollar index violated support
(line a) on July 21. Though it is possible that the dollar is forming a double
bottom, a more likely interpretation is that it will break below the recent
lows, which will cause heavier selling.
Gold was the big winner
last week, and after completing its flag formation (lines c and d) on July 12,
the Spyder Gold Trust (GLD) has accelerated to the upside. It is still below the
upside targets from the flag formation, which are in the $160-$162 area.
Platinum prices have
been lagging gold, as platinum is just $155 more expensive than gold. In
January, one ounce cost $525 more, and the long-term chart of the platinum/gold spread is quite
interesting.
The week ahead is a big
one for economic reports with the main focus being on jobs. The ADP Employment
report is due out Wednesday, with jobless claims due Thursday, and the key
monthly jobs report scheduled for Friday.
There are some other
reports as well, with the ISM Manufacturing Index and Construction Spending set
for release on Monday. On Tuesday, we’ll get the Personal Income report, while
the ISM Non-Manufacturing Index and Factory Orders will be released on
Wednesday.
What to Watch
Last Thursday, I identified some key levels for ETFs that represent the
major stock indexes. Those levels were decisively broken in the Spyder Trust (SPY) and SPDR
Diamonds Trust (DIA). Technology has been the strongest sector recently,
and the tech-heavy PowerShares QQQ
Trust (QQQ) is so far holding well above its key support.
Stocks made their lows
on the opening last Friday, and despite much-worse-than-expected economic
numbers, S&P futures closed almost ten points above the early lows. Though
this does possibly mark a short-term low, a rally this week will have to be
watched closely.
My concern is that we
will see a sharp reflex rally once a deal on the debt ceiling is made, but that
rally won’t last more than a day.
http://www.moneyshow.com/image.asp?imgSrc=investing/Guru/WA7-29b_large.gif&aid=GURU-23955&scode=021551
Click to Enlarge
S&P 500
The monthly chart of the
Spyder Trust (SPY) shows that it has closed lower for the past three
months. It is currently not far above the monthly uptrend, line a, at $127.
There is further support from the April 2010 highs at $122.
The 200-day moving
average (MA) (not shown) is still rising but was violated last Friday.
Once below Friday’s low
at $127.97, the next key chart support is at $126.19 and the June lows. SPY
made a low in March at $125.28 during the panic selloff.
The S&P 500 A/D line
has broken the uptrend from the June lows and now shows a pattern of lower
highs and lower lows. The June lows now represent important support.
There is initial
resistance for SPY at $130.40-$131 with much stronger resistance at $132.63.
Dow Industrials
The SPDR Diamonds Trust (DIA) was hit hard last week, falling as low as $120.64 last
Friday. One can make a case from the weekly chart that a weekly
head-and-shoulders top is forming. The neckline (line b) is just above the $119
level with the June lows at $118.54.
A decisive close below
both of these levels on a weekly basis would clearly be serious. The weekly OBV
did confirm the highs in May, but it remains below its weighted moving average
(WMA) and has broken its uptrend, line c.
The Dow Industrials’ A/D
line has reversed sharply, breaking the long-term uptrend, but it is still
above the June lows. If those lows are broken, a more serious decline could
occur.
There is significant
resistance for DIA at $122.50-$123 and more important resistance now at $123.80
to $124.39.
http://www.moneyshow.com/image.asp?imgSrc=investing/Guru/WA7-29c_large.gif&aid=GURU-23955&scode=021551
Click to Enlarge
Nasdaq 100
The tech sector was
the strongest last week, as the PowerShares
QQQ Trust (QQQ) held above key support at $56.87-$56.98. Friday’s low
was $57.44.
The better relative
performance, or RS analysis, is evident on the %Change chart, as QQQ shows
higher lows while SPY shows lower lows.
The Nasdaq 100 A/D line
did not confirm the recent highs and this divergence is now more of a concern.
A break of longer-term support will confirm the divergence.
There is initial
resistance at $58.80-$59.30.
Russell 2000
The iShares Russell 2000 Index Fund (IWM) was hit hard last week, down over 5%, and it is
already close to the June lows at $77.23, having reached $78.24 on Friday.
If the June lows are broken,
the major 38.2% support is at $76.11.
The Russell 2000 A/D line is declining, but it is still holding above major support.’
Top
3 Reasons Markets Were Down After a Weak GDP Report Wall St. Cheat Sheet July 29, 2011, Markets closed down on Wall Street today:
Dow -0.79% , S&P -0.65% , Nasdaq -0.36% , Oil -1.56% , Gold +0.74 % .
On the commodities
front, Oil fell to $95.92, while precious metals gained, with Gold up slightly
to $1,628.10 an ounce and Silver up 0.29% to $39.91 an ounce.
Don’t Miss: Your
Cheat Sheet to the History of the U.S. Debt Ceiling.
Today’s markets were
down because:
1) Debt ceiling. Every
day I have to include the debt ceiling as one of the reasons the markets were
down, a little piece of me dies. Four days until the Treasury’s deadline and
Congress seems to have reached a stalemate. Boehner keeps pushing forward with
his bill, and finally has enough votes in the House for it to pass, only to get
voted down soon as it reaches the Senate, where Democrats and Republicans alike
have vowed they will block it. Senate Majority Leader Harry Reid is working on
a budget plan that has wider support in the Senate, but it has yet to be put to
a vote, until which point there’s no knowing which way it will go, especially in
the Republican-led House. So in the meantime, we wait and listen to China complain
about the US.
2 ) GDP . If yesterday’s
positive economic news wasn’t enough to counteract the depressing effect of the
looming debt ceiling, today’s bad economic news sure isn’t going to help
matters. Stocks took a huge dip this morning right out of the gate after the
Commerce Department reported GDP
grew at an annual rate of 1.3% during the second quarter, well below
projections of 1.8% growth. While data like durable goods orders and consumer
spending give us an idea of how the economy is progressing, GDP covers the
whole kit and kaboodle, and the most recent figures are not good.
3) Treasuries. While
short-term Treasuries saw a moderate selling-off on Friday, as would be
expected, the price on the benchmark 10-year note rose, pushing the yield down
from 2.91% to 2.78%, the biggest one-day drop since December 2010. Longer-term
investors tend to focus more on the economy than more immediate issues like
those plaguing Washington at the moment, so the fact that the price of
long-term notes is up shows that investors have a positive economic outlook.
BONUS: Cost
of Insuring U.S. Debt Explodes to Two-Year High.’
The ‘Duh! Ya think?’
corner:
Confusion
Grips Wall Street Ahead of Debt-Ceiling Deadline - Aaron Task
2011
Is Proving to Be a Horrible Year for the Economy - Peter Gorenstein
Even
the Best Investors Get It Wrong. Ask John Paulson - Peter Gorenstein
Probabilities
of Bearish Scenarios Increasing at
Minyanville
[video]
Economist John Ryding: Concerned About Stagflation at TheStreet.com
S&P 500 Down 3.92% for the Week
Investors Flee Markets: Dave's Daily at TheStreet Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif courtesy of Dave … ‘We're in an "event risk" market environment. These are never easy to trade or position. I would wager many institutions and individuals are trying to find protection in whatever instrument they can find and/or are permitted to use. According to Lipper investors pulled a net $32.2 billion from mutual funds--including ETFs--for the week ended July 27. This continues the previous trend. Further investors loss of confidence in the U.S. is increasing by the moment. There wasn't an attempt at end-of-month window dressing as conditions made this futile. Gold (GLD, IAU, DGP), Japanese Yen (FXY), Swiss Franc (FXF), U.S. bonds (IEF) were about the only areas showing any life or safe haven status. I'll bet there were plenty of exotic options transactions as investors sought protection there…’
Surveying
The Week's Wreckageat The Wall Street
Journal
While Washington Fiddled The Economy Burned at Forbes [ Oh come on! Let’s get real here! The economy was already burning (see infra), Washington notwithstanding! Indeed, the frauds on wall street with those contraindicated paper stock computer programmed commissioned churn-and-earn rallies would love for you to think it’s Washington only (that aw shucks, coulda’ been clear sailin’ otherwise moment). But the reality is that things are far more dire financially and economically than their window-dressed scams would indicate, though washington’s no help, incompetent, unknowledgeable, and ineffectual as they are (although fraudulent wall street, aside from their consummate scammin’, is little better and probably overly relied upon and light in those very areas one would expect to find profiency; viz., finance and economics.) Most importantly, realize that if wobama’s actions had not belied his words/campaign promises, the nation’s position, though still ominous, would have been substantially improved.} ] Check out this inflation calculator: http://www.albertpeia.com/inflationcalculator.htm
Growth
anemic, debt fight poses recession risk Reuters | The U.S. economy stumbled
badly in the first half of 2011.
Giant
Banks Lobby to Raise the Debt Ceiling and Slash Public Benefits
Washington’s Blog | Some complain about the poor sucking on the government
teat.
Apple
Now Has More Cash Than The U.S. Government Business Insider | The world’s
largest tech company has more cash than the world’s largest sovereign
government.
IMF
chief: Dollar status in doubt if debt crisis persists AFP | Lagarde warned
that failure to resolve the crisis would likely raise “doubts” about the
dollar’s status as the world’s reserve currency.
‘ Is Meredith
Whitney’s “I told you so” moment approaching?
Moody’s just lowered Connecticut’s general obligation
rating to negative from stable citing among other things “depleted reserves
with slim prospects for near-term replenishment.”
From Moody’s:
The state has approximately
$14 billion in outstanding general obligation bonds…The negative outlook
reflects Connecticut’s depleted reserves with slim prospects for near-term
replenishment; pension funded ratios that are among the lowest in the country
and likely to remain well below average; and high combined fixed costs for debt
service and post employment benefits relative to the state’s budget. In the
absence of a clearly articulated plan to achieve meaningful improvement in the
state’s pension funded ratios and reduce its fixed costs, as well as progress
toward adequate reserve levels, Connecticut’s rating could be downgraded.
The news comes just a
day after it was revealed that its tri-state neighbor New Jersey is seeking a
$2.25 billion bridge loan from JPMorgan Chase. The Garden State has decided to take a bank
loan instead of issuing bonds because the later would require more time to raise
the necessary amount of cash to pay its bills.
Whitney, the analyst who
has been sharply criticized for her prediction of widespread municipal defaults
this year, was on CNBC this morning
discussing the bridge loan. From the interview:
“I wouldn’t read too
much into this one financing. It could be business as usual. That’s not the
issue,” Whitney said in a live interview. “New Jersey’s fiscal woes are far
bigger than them accessing a line of credit or a new loan.”
Rather, she said these
types of moves will be mere warning shots as states approve their spending
plans for the fiscal year ahead—running from July 1 to June 30—and balance
those budgets by cutting local aid.
“That’s what’s really
going to hurt. So the pain of the states is just upon us,” said Whitney, famous
for her warning about Citigroup‘s exposure to subprime loans back in 2007, a call
that would foretell the ensuing financial crisis. “What you’ll see now is as
the states are submitting final budgets, you’ll see the real pain at the
municipal level start happening July 1. That will intensify and that’s where
you’ll see the fallout.”
Whitney said last year
that she expects hundreds of billions in defaults on municipal bonds in the
next five years.’ Meredith Whitney Adds 10 New States To Her Sh*t List Bess
Levin Meredith
Whitney State Finances Are Worst Than Estimated [Fortune via Katie Benner] . Ask Meredith Whitney! She was right last
time, and this time, like last last time, she’s takin’ it on the chin from the
permabull wall street frauds: Meredith
Whitney Sticks to Her Guns Today Roche ‘Talk about holding onto a losing
trade. At the Milken Conference yesterday, Meredith Whitney said there was
nothing controversial about her muni call, maintaining that she has more
conviction about the muni crisis call than anything in her entire career. Via
Bloomberg:
Whitney said on the
panel, “It’s not that big of a call..There’s nothing controversial about that
call, if you look at the numbers.”
“You can criticize me
for everything you want, I’m just numb to it because I have more conviction on
this than I’d had on any single thing in my career.”
On the same panel, David
Solomon, Goldman Sachs’ co-head of investment banking said, “I don’t think
we’re doomed. I think the resources available to us, and the changes that will
evolve as we come out of a very, very difficult economic period that we’ve been
stuck in over the past couple of years, will provide more flexibility than I
think Meredith believes.”
Boehner
rewrites bill after analysis How has the Congressional Budget Office, a
small agency of analysts, gained such authority in D.C.? Alice
Rivlin on CBO’s role in debate Ezra
Klein: Why does anyone trust CBO? (Washington Post) [ Yeah! ‘Tis true! I’d also
have more confidence if the analysts were not CBO, but rather,
psychoanalysts! Vote
on Boehner bill delayed after analysis Washington barreled closer to crisis
as House Speaker Boehner and Senate Majority Leader Reid scrambled to build
support for rival plans to control the national debt, but both appeared doomed
without significant modifications. (Washington Post) [ Psychoanalysis? Oh, yeah
… that other kind of analysis, that deals with numbers and things and logic.
Okay … sounds like a plan … or, at least planning to have a plan. But let’s not
dismiss psychoanalysis so quickly either. After all, they are americans … after
all; and particularly, D.C. Washingtonian americans at that ( I did a brief
paper on psychoanalysis / psychoanalytic method http://albertpeia.com/psychoanalyticmethod82309.htm which is a compelling subject). Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Boehner
orders GOP to fall in line on debt As investors grow increasingly anxious,
House Republican leaders deliver a tongue-lashing to their most conservative
lawmakers and cast Thursday’s roll call as nothing less than a vote of
confidence in their stewardship of the chamber. (Washington Post) [ Mais oui,
mon fuhrer! Obama
spars with Boehner as deadline looms The president said in a prime-time
speech that, unless Congress agrees quickly to a long-term increase in the debt
ceiling, “we would risk sparking a deep economic crisis.” In response, the
House speaker said that “the solution to this crisis is not complicated,” but
that he would not give the president a “blank check.” (Washington Post) [ Well,
it’s that darn teleprompter. Yeah, Mr. Teleprompter really craves that prime
time face time; you know, so close to the elections. ‘Grand
bargain’ talks fail as Boehner walks out House Speaker John Boehner’s
abandoning of talks with the White House throws into chaos efforts to raise the
legal limit on government borrowing with just 11 days before the U.S. Treasury
is due to run out of cash. (Washington Post) [ Geeh! And we were all just
getting excited / aroused having been told wobama’s got a Boehner … Not, they
say … but dem PIIGS got problems too. Europe’s
debt crisis threatens Italy (Washington Post) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop …
py. Obama,
Boehner push for ambitious debt plan Savings of $3 trillion over the next
decade would come from spending cuts and changes to entitlement programs, but
no immediate tax increases. (Washington Post) [Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
BALANCE SHEET: Consensus estimates for unfunded obligations vary.
Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates
the unreported debt to be $75 trillion, while other estimates exceed $100
trillion (these amounts are insurmountable) …’ Moody's
puts U.S. ratings on review for downgrade Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.).
It’s not ‘default’ The U.S. will
not default after Aug. 2. Something much weirder and more chaotic will happen.
(Washington Post) [ No matter what you call it, or what it is, beyond the spin,
the reality is that it ain’t goin’ to be good! Ain’t goin’ to be pretty! So
there you go, and you read it here: ‘no default’ . Well, I don’t know about ‘no
default’ because I’m with the camp that posits that we’ve already defaulted
(see immediately infra); but, I do believe that prospectively, for the
foreseeable future, ‘weird and more chaotic’ describes america just fine, in a
nutshell. Drudgereport: CHINA:
USA 'ALREADY DEFAULTING'...
, One commentator, Peter Shiff,
to Frank Motek of 1070am Bus.Report references the sham in Washington; and
regardless, points to default by way of inflation, further stating that the
debt ceiling’s already been breached by borrowing. Moreover, he additionally
states that default is inevitable by way of inflation; that the fed will be
buying the evermore worthless american paper (bonds) and creating/printing
evermore worthless american dollars; that there’s been a quid pro quo with at
least one of the 3 (S&P, Moody’s, Fitch) federal licensed rating agencies,
viz., of reaffirming the u.s. AAA rating in return for no prosecution
surrounding their role in the S&P AAA rated worthless (fraudulent,
mortgage-backed, derivative) paper securities (fraud) giving rise to the
previous leg of this continuing, ongoing debacle / crisis. He finally goes on
to recommend non-u.s., non-dollar denominated assets, precious metals, and
alternate currencies. A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.Check out this inflation calculator:http://www.albertpeia.com/inflationcalculator.htm Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To
Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis.
Once again I see all the
“canaries in the mine,” which warned of the 2008 crisis. My just released
book, Financial Apocalypse , provides the clues and the road map, with charts, of
how my indicators successfully predicted the meltdown that occurred in
the fall of 2008. This book is a guide for detecting the next crisis whenever
it occurs. History repeats, or at minimum, it rhymes.
My work shows that “the
new recession has started.” The May 9 issue of the Wellington
Letter was headlined:
“Return of the Double-Dip.” At the time, economists were looking for a
great economy in the second half. Now they talk about a “soft patch.”
Over the past 33 years, we have called the start of every recession, often on
the exact month, or within one month, of the official start as determined one
year later by the official arbiter of recession, the National Bureau of
Economic Research (NBER).
How can we be in
recession now when the GDP still shows growth? Because of improper inflation
adjustments. “Real” GDP growth, the headline number, is nominal growth minus
the rate of inflation. However, inflation is far understated for political
reasons.
Currently, the GDP
deflator is 1.8%, which hardly reflects the true rise in prices. Therefore,
what is counted as “growth,” is actually price increases. Actual inflation,
according to free market economists who calculate inflation as it was done in
1980 before the politician re-engineered it, is now more than 11%. Using that
to adjust GDP for inflation, would show that the economy is now in a very sharp
contraction.
When the current
euphoric earnings forecasts of Wall Street finally reflect that via significant
“earnings downgrades,” the stock market will see a serious “adjustment” as
well.
On July 18, Goldman Sachs
(GS)
substantially lowered its economic growth forecast. Marketwatch.com had this
headline: Goldman Sachs slashes Economic Forecasts. The next step will be for them to substantially
reduce earnings forecasts for the S&P 500.
Will the phase II be as
bad as the 2008 crisis? The last crisis was confined to the private sector,
i.e. financial institutions. The next one will be involve the threatened
default of entire countries. The last time, the central banks bailed out the
financial firms and even Warren Buffett bailed out several firms. Who is big
enough to bail out entire countries? Or will the term of “too big to fail” turn
to “too big to bail?”…’
National / World
Here’s a picture of obama voters / backers: http://www.albertpeia.com/wobamavoters.gif
A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator immediately above
the current date on this page – and that’s just the government (inflation)
numbers … reality is much worse!} Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.]
Check out
this inflation calculator: http://www.albertpeia.com/inflationcalculator.htm
Limbaugh:
We've Been Played for Saps, Folks: Boehner Bill Will Become Reid Bill July
28, 2011... [ God knows I’m no fan of perma
war, bush, etc., apologist limbaugh’s; yet, I’m constrained to say I agree with
his headline and include his article (which I’ve not read) here for 1st
Amendment purposes while also saying, republicans, democrats … at this point,
what’s the difference? ] ‘BEGIN TRANSCRIPT
RUSH: I think we've been played for a
bunch of saps, I mean not us exclusively, I just mean the whole country, the
Republican Party, ruling class. I'll explain as uncomfortable as it is and
as grading as it is, I'll explain as the program unfolds it's great to have you
here as always telephone number if you want to be on the program.
800-282-2882. The e-mail address [email protected].
Where are we on the debt deal? I suspect that most of the people, and
this is what a lot of people are relying on, "Just finish it!"
A lot of people are sick and tired of hearing about it, let's move on to
something else. "I'm tired of talking about it. Can't we do
something that's fun? What the hell is going on?" I understand
the sentiment. Yesterday or last night the Republican leadership
succeeded in getting Allen West to flip and vote for the Boehner plan or to
commit to it. The same thing with Paul Ryan, and I've had a lot of
e-mails: "What's Allen West doing? I can't believe Allen West,
of all people." These Democrats, folks, you have to understand who
we're dealing with here. This whole thing with Debbie "Blabbermouth"
Schultz going on the House floor and accusing West of wanting to cut Medicare
and Social Security and all that in the south Florida district, and you
remember the contretemps that begin with West responding to it and so
forth. They have put his re-election into play and, of course, they've
got the media on their side down here in south Florida.
So all over the media is the allegation that Allen West wants to do all this
damage to senior citizens and so forth so that's how his vote gets -- I'm
guessing. I haven't spoken to him. But I think that's a large part
of it. Now, as we all know the Boehner bill is not ideal. It's
another one of these eight hundred, nine hundred, I don't even think it gets to
a trillion, but let's say it does, a trillion dollars in cuts over 10 years,
the debt limit raised immediately so the spending occurs immediately, but it
re-invites the debt limit debate all over again in a few short few months and
in fact there is from the Daily Caller today a story that says the GOP is
stealing Christmas. The Democrats are going back to the Gingrich that
stole Christmas theme from the Clinton days. And here's the story from
the Daily Caller: "GOP Aims to Gut Christmas, White House Alleges -- House
Speaker and national grinch John Boehner is planning to spoil Christmas, White
House officials are claiming, as they try to head off passage of Boehner’s
two-stage debt ceiling bill."
They don't want to head off passage of the Boehner bill. They want the
Boehner bill to pass in the house. There's a trap essentially that's
being set, and I noticed that there's an AP story, and way down at the AP
story: "In fact, Boehner's plan has enough in common with Reid's --
including the establishment of a special congressional panel to recommend
additional spending cuts this fall -- that Reid hinted a compromise could be
easy to snap together," between his nonexistent bill and the Boehner
bill. What does that mean? What it means is that over in the Senate
Reid really doesn't have a bill. He's got an idea, but he doesn't have a
bill. And what he's put forth as an idea hasn't gotten all that much
support. But here comes, let's say the House, and Boehner doesn't have
the votes in the House yet according to Politico. And this is key.
That was as of 9:30 this morning and they're going to be working the Republican
caucus all day long before the vote tonight. But, as of now, Boehner
doesn't have the votes for his bill. But let's assume he gets the
votes. The Boehner bill then goes to the Senate where it's dead on arrival.
There are 58 senators that are going to vote against it, by design.
However, they've got a bill over there now.
So Dingy Harry can take the Boehner bill and tweak it and rewrite it, make
additions to it, take some things out of it, play with it however he wants, and
get enough votes from Democrats since it becomes the Reid bill, and then it
gets sent back to Boehner in the House looking nothing like his bill, but the
rationale for passing the Boehner bill in the House is we've got to do this,
the time is up, we're not going to get blamed. So if Reid monkeys around
with the bill that he gets from Boehner, and it passes in the Senate, with
whatever changes that are not favorable to us, of course, they throw it back in
Boehner's lap, and then the pressure is going to be back on Boehner.
Okay, do you sign the Reid bill? Do you pass it? Do you get your
guys to vote for it and send it to Obama, basically a Democrat bill. That
is what a lot of people -- and I sign on to the theory, too -- this is one of
the traps that's being set. The Boehner bill is essentially being used to
be a foundation for a nonexistent as of yet Reid bill. And thereby the
Boehner bill becomes the Reid bill, therefore Democrat bill all in the absence
of an Obama plan. No Obama plan at all in this.
There's no Obama bill. There's nothing set
down on paper. So the Reid bill will become the Obama bill. The
Boehner plan will become the Obama plan. I think that's the trap.
And, of course, the establishment, Republicans are all gung ho.
"Gotta get this done. It's the best we can get." Because
they're telling themselves there aren't any tax increases in it, and there
aren't. There aren't any tax increases in the Boehner bill. And
there are spending cuts and there are caps, but what happens when that goes
over to the Senate and Reid says, "You know what, I like some of this and
I don't like that. Let's take some of this out and put some of this in,"
and gets his votes for it and the Boehner bill becomes something
unrecognizable, then goes back to the House, what are they going to do?
They've already passed the Boehner bill under the guise that we can't wait any
longer, that AAA credit rating is in jeopardy, all this rotgut BS.
So that, essentially, is where things stand. Now, back to this Daily Caller
story. The one thing in the Boehner bill, and Democrats don't like this, is
that the debt ceiling doesn't get raised enough to get us through the 2012
election. In other words, the Boehner bill is not a full-fledged Obama
Reelection Lifeline Bill. But that's what Reid wants to turn it into. Now
they're attacking that aspect of the Boehner bill by saying that the
Republicans want to destroy Christmas. "House Speaker and national grinch
John Boehner is planing [sic] to spoil Christmas, White House officials are
claiming, as they try to head off passage of Boehner's two-stage debt ceiling
bill.
"'Happy Holidays[,] America: Boehner plan would have the debt ceiling all
over again during the holiday season, which is critical for the economy,' White
House deputy spokesman Dan Pfeiffer declared today at 9.50 a.m." Now, the
Boehner bill would carry us through next March or April -- or at least, the
last time the Speaker spoke to us that's what he told us, that there would be
enough of an increase in the debt ceiling to get us through the spring.
"White House political adviser David Plouffe made the same claim about
Christmas almost one hour earlier when MSNBC’s [F.] Chuck Todd quizzed him
about the White House’s opposition to Boehner’s two-stage debt ceiling
proposal. ...
"White House spokesman Jay Carney repeated the same theme at his midday
press conference. A two-stage plan that extends the debt ceiling only until
'the holiday season,' he said, 'would almost certainly require almost all of us
to go through this again at the end of the year, the most important economic
season of the country.'" Democrats are pulling out all rhetorical stops.
Pelosi said this morning, "What we're trying to do is save the world from
the Republican budget. We're trying to save life on this planet as we know it
today." That's Pelosi. The CBO has scored both of these bills in such a
way as to make it seem like there's very little difference between them,
spending cut-wise, the Reid and Boehner bills.
There are real differences, but we're supposed to just look at the numbers and
say, "Oh, they're that close? Then let's just split the difference."
When is the last time you heard that the Boehner bill was very close to the
Reid bill? I've never heard that until today -- and they're not close! The Reid
bill counts all kinds of "savings" from the wars in Iraq and
Afghanistan and all kinds of mumbo jumbo in there that Boehner's bill doesn't
have. What is such a victory in there being no tax increases in the Reid debt
ceiling deal? When in the history of the country has there ever been a tax
increase included in the debt ceiling increase? We've mentioned this before: No
debt ceiling increase bill has ever had a tax increase in it, yet this is being
heralded as something unprecedented.
It's not. It's common. There's never a tax increase in a debt ceiling bill.
There could be in this one, though, because the Boehner bill sets up this
commission of unnamed members. They could do whatever they want. It's claimed
that they can't do tax increases, but nothing's going to stop them if they want
to. So the question that we have to ask is: Where is Republican victory in the
Reid bill? Where is the victory in there being no tax increases in the Reid
debt ceiling deal, because there never have been. So that's where we are (at
least that's where I think we are) and they are really hustling and they are
twisting arms on the Republican side. They're using phrases like, "Get
your ass in line." They are saying, "Don't let ideological purity
stand in the way."
Boehner said the same thing before the TARP vote. He said the exact same thing.
He wasn't Speaker then but before the TARP vote in 2000 he said, "It's
crucial. We're at a pressure point in the country where we can't let
ideological purity stand in the right thing to do." They're saying the
same thing now to the Republican freshmen in the House. "You can't let
ideological purity stand in the way of doing the right thing. We've got to do
this now," and their reasoning basically, when you boil it all down, is,
"We've got to do something, no matter what it is, so we don't get blamed
for not doing anything." So that's where we are as I, El Rushbo, see it. I'd
love to be wrong. I love being right, as you well know, but I would love to be
wrong. There are no real spending cuts in either bill. We went through that
yesterday the baseline and all that. There are no real cuts, and certainly not
at all in the Reid bill. So we shall see.
BREAK TRANSCRIPT
RUSH: My gosh, this is really tough for me -- and I'm not complaining for you.
I'm just sharing. If the Boehner bill is stopped, Harry Reid is stopped.
If the Boehner bill passes, then essentially the Harry Reid bill is going to
take the place of the Boehner bill. The Boehner bill will become the Harry Reid
bill. Now, little old me -- sitting here in south Florida, growing up in
Missouri, not part of any establishment -- looks at the establishment and I
think that they have it all wrong. This deal, if after all of this talk about
what a crisis point we are at, is the best that can be done essentially we will
be institutionalizing the debt situation. The establishment that this is the
new normal will make it $2.5 trillion harder to undo what will be done from
this deal. That's what Reid's spending is. Reid's bill is $2.5 trillion of
spending. That's the debt limit increase in the Reid bill. So it takes us from
14.3 up to 16.8.
So that becomes the new normal. Now, if we control all three branches, all
three branches will have to deal with almost $17 trillion in immediate debt
rather than trillions less, and the political situation is not going to be any
better in dealing with it. Let's just advance forward and let's say we do win
the Senate and we do win the presidency in 2012, but we've added $2.5 trillion
in debt between now and then. The political situation is not going to be any
better in terms of dealing with the debt. Plus we're going to have to deal with
entitlements as well. None of this does.
The Reid bill doesn't deal with entitlements and the Boehner bill doesn't deal
with entitlements, and that's where the real hard work is going to be, and so
we're kicking that can down the road. The Republicans want a deal now to get it
off their plate. They want to be able to say that they did the best they could.
"We've taken a good first step." That's what they want, and they want
also to have it said that they compromised. There's magic in that word in
Washington and they're salivating over the opportunity to be called great
compromisers. Politico today, as of 9:43 this morning: "Speaker John
Boehner told lawmakers Thursday that Republicans don’t yet have the votes to
pass the package, but predicted his leadership team would get the legislation
across the finish line this evening.
"'We do not have the votes yet,' Boehner told a closed meeting of House
Republicans Thursday morning... 'But today is the day. We’re going to get it
passed.' ... Rep. Steve Chabot (R-Ohio) also said Boehner admitted not being at
217 votes yet -- the minimum number of votes needed to pass the House. 'I don't
think we're there yet, but I think we will be,' said Chabot, who is backing the
Boehner plan." They're planning an evening vote on Boehner's package to
lift the debt ceiling after the financial markets close this afternoon in New
York. Now, Politico says here Republican "leaders feel momentum has turned
in their direction after the Congressional Budget Office released new estimates
showing the Boehner plan reduces the deficit by more than the bill raises the
debt limit."
You know we're not even talking a trillion dollars here from the current
baseline? Remember yesterday (there's always so much to remember): If you're
just joining us today, if you were not here yesterday, get this: If the Boehner
bill was simply a freeze, not one dime spent next year more than is spent this
year -- we don't increase spending a dime -- the congressional budget office
would score that as a $9.5 trillion cut over 10 years because $9.5 trillion is
built into the baseline from which the federal budget is built every year.
That's how out of whack this is. If we don't spend a dime, the CBO would come
out and claim that Boehner is cutting spending $9.5 trillion, when he's not.
There's no cut in a freeze. There's only a cut if you are going to pretend that
you're going to spend nearly $10 trillion the next 10 years -- which, of
course, it's going to be more than that. The annual budget's over that easily.
The guys at Red State, reading stuff this
morning, and they found an interesting passage in Mike Allen's Playbook in The
Politico. Mike Allen has this thing every morning. It's sort of a take-off of
what the Hotline does, a little Dot, Dot, Dot column on all that's going on in
Washington, politically; what's supposed to happen today and what happened last
night and all kinds of things. It's just the political junkie's delight.
There's this little package, a quote from an unnamed top Democrat. "The
press will obsess about today's House vote on the Boehner two-step bill, but at
best it is an exercise in political machismo. At worst it's the beginning of
the most irresponsible act in congressional history, because the House bill is
dead on arrival in the Senate.
"At least 58 senators are on record saying they will not support the
Boehner bill. That's worse than the Ryan bill. That's worse than Cut, Cap and
Balance. So once the vote is over, Speaker Boehner needs to begin immediately
working on a way out of the mess Cantor created." That's what this top
Democrat is saying. "If he doesn't, we could be in big trouble. There are
dozens of possible compromises. He just has to take one. Reid, McConnell and
the White House have plenty of options. The question is: 'Will he choose
compromise for the sake of the country or political grandstanding for the sake
of his caucus.'" So what they're talking about here is the Democrats are
trying to say that what Boehner is doing is irresponsible.
He's going to send a bill up to the Senate that he knows doesn't have a chance,
and I can tell you their thinking behind that. Their thinking behind that --
and you tell me if you think this makes sense. The Republican thinking is,
"We got a bill, the Boehner bill, the Boehner two-step. We send it up
there and the Senate votes it down, it's their problem. We had a bill! We came
up with deficit reduction! We expanded the debt ceiling. No new taxes. The
Senate shot it down. Therefore, the ball's in the Democrats court and it's
their problem." That's the thinking. This Democrat is saying that's the
most irresponsible act in congressional history. Of course, the Democrat wants
something that Boehner would send something over that Harry Reid and the
Democrats would vote for, but read this very carefully. The Democrat is saying
what I just told you.
Boehner's going to need to begin immediately working on a way out of the mess
because it's still going to be his mess, according to the Democrats. They're
going to say, "The sent us something that we wouldn't possibly pass. He's
trying to make us look like the obstructionist, but he knows we wouldn't vote
for this, so why did he send it to us? So we're going to monkey around with it,
we're going to send it back to him, and we're going to put the compromise onus
back on him again." So the thinking is the Democrats think they can get
away after Boehner and the Republicans might think they've won the day on
compromise. The Democrats say, "Oh no you haven't! You've sent us
something we can't possibly vote for.
"Here. We're going to send it back to you with some changes we're going to
make in it, and it's going to be up to you, Mr. Boehner, to begin immediately
working on a way out of this mess -- and if you don't, we could be in big
trouble." Then Reid, McConnell, and the White House have plenty of
options. Here goes monkying around with the Boehner bill to turn it into
something that the Senate will vote for, and it goes back to Boehner and then
the question: "Will he choose compromise for the sake of the country
or...?" In other words: "Will Boehner agree to the changes the Senate
makes to his bill, or not?" and if he doesn't, the problem then becomes,
"Republicans refuse to compromise," which is what the Democrats want
all along.
Meanwhile, the Republicans think that by dumping this thing in Reid's lap, the
Democrats are going to end up looking like they don't compromise. The Democrats
are a step or two ahead here. That is, if they're not all on the same page and
just playing us for saps anyway. However, as Red State points out here:
"All the Republicans keep telling us that this is the best they can hope
for," that the Boehner two-step is the best they can hope for. That's what
they keep telling us: "We've got to do it now. We've got the best we can
possibly get." So how is it the best they can hope for when it is going to
get less votes in the House and Senate than either Paul Ryan's plan or Cut, Cap
and Balance. They're going backwards on this.
END TRANSCRIPT’
Top 3
Reasons Markets Were Down Despite Apparent Economic Recovery Wall St. Cheat Sheet, July 28, 2011 [ Come on! Who
believes their pre-election year data, reports, b***s***? There’s desperation
in the air and like never before! ] ‘Markets closed down on Wall Street
today: Dow -0.51% , S&P -0.32% , Nasdaq +0.05% , Oil -0.27% , Gold -0.22 %
.
On the commodities
front, Oil fell to $97.14, while precious metals were mixed, with Gold up
slightly to $1,617.40 an ounce and Silver down 1.88% to $39.81 an ounce.
Don’t Miss: Your
Cheat Sheet to the History of the U.S. Debt Ceiling.
Today’s markets were
down because:
1) Jobless figures.
Giving the markets an early boost this morning was news that last week initial
jobless claims fell below 400,000 for the first time since early April.
Though that number still seems high, economists say that, when jobless claims
fall below 400,000, that means the economy is adding more jobs than it’s
losing. All of the major indices were up this morning on the news, climbing
into the early afternoon before taking a dip. The Dow climbed as high as 12,380
points, but unfortunately wasn’t able to hold onto the morning’s gains,
ultimately settling in the red, as did the S&P 500, with only the Nasdaq
Composite holding on to enough of its gains to finish the day up, though well
below its high just before noon.
2 ) Pending home sales.
Yep, those improved as well. According to the National Association of Realtors,
pending
home sales continued to increase in June, up 2.4% over May and a whopping
19.8% over June 2010. Last month is only the second since April 2010 to show
year-over-year growth, and this upward trend bodes well for the housing market
, which has been slow to recover from the financial crisis.
3) Debt ceiling. Until
Congress agrees on a new budget and a plan to raise the debt ceiling, markets
are going to continue to be weighted down by the pressure of impending default.
It doesn’t matter that unemployment may start to decline, or that pending home
sales are up — if the government defaults on its obligations, all the progress
that’s been made so far will be thrown out the window.’
Minyanville's
T3 Daily Recap: Market Stuns Dip Buyers, Gives Back Big Early Gains ‘During the first half of the day Thursday,
the market looked set to erase most of yesterday's potent down day. Many bulls
were calling yesterday's big selloff a shakeout. Boy, can four hours make a
world of difference. Stocks
began selling off hard after noon as lawmakers continue to squabble over the
debt ceiling deal, which is only days away from the deadline. The Nasdaq was able toe eke out a narrow
gain, but the S&P,
and Dow both closed in
the red. Many stocks had huge travel ranges today with the swinging market, not
the least of which was LinkedIn Corp.
(LNKD). The stock
at one point was up 15% for the day, but pulled back in hard to close flat.
Overall, now is not a time to try to be a hero. Stay heavily in cash until this
debt deal gets ironed out (or doesn't), don't try to be a hero. Risk reward is
just not in the trader's favor at this stage.’
AAII
Sentiment Survey: Investors are Getting Very Negative About StocksWall St. Cheat Sheet
Don't
Light That Short Fuse! at Forbes … The markets seem likely to re-test recent lows,
and if key technical levels are broken, an explosion in selling is possible.
The fuse is getting shorter. Consider some selective selling, and watch
these price levels on the major stock index ETFs
… What It Means: The deterioration in the technical picture increases the
chances that the June lows will be tested…’
Another
Late-Hour Stumble at The Wall Street
Journal
Dagong
Says Will Cut US Rating As Early As Monday Zero Hedge | “We will react
soon, probably next Monday or Tuesday.”
This
Is What A Collapsing Ponzi Scheme Looks Like David DeGraw | You might want
to sit down for this one.
White
House Says Treasury Will Be “Running On Fumes” Shortly Tyler Durden | The
White House’s press secretary Jay Carney said that the Treasury will be
“running on fumes” if the debt ceiling is not raised by August 2.
Tax
Cuts for the Middle Class and Poor STIMULATE The Economy, But Tax Cuts for the
Wealthy HURT The Economy Washington’s Blog | Extreme conservatives push for
tax cuts … but just for the wealthy.
A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.]
Check out this inflation calculator: http://www.albertpeia.com/inflationcalculator.htm
National / World
New NASA
Data Blow Gaping Hole In Global Warming Alarmism
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
Boehner
orders GOP to fall in line on debt As investors grow increasingly anxious,
House Republican leaders deliver a tongue-lashing to their most conservative
lawmakers and cast Thursday’s roll call as nothing less than a vote of
confidence in their stewardship of the chamber. (Washington Post) [ Mais oui,
mon fuhrer! Vote
on Boehner bill delayed after analysis Washington barreled closer to crisis
as House Speaker Boehner and Senate Majority Leader Reid scrambled to build
support for rival plans to control the national debt, but both appeared doomed
without significant modifications. (Washington Post) [ Psychoanalysis? Oh, yeah
… that other kind of analysis, that deals with numbers and things and logic.
Okay … sounds like a plan … or, at least planning to have a plan. But let’s not
dismiss psychoanalysis so quickly either. After all, they are americans … after
all; and particularly, D.C. Washingtonian americans at that ( I did a brief
paper on psychoanalysis / psychoanalytic method http://albertpeia.com/psychoanalyticmethod82309.htm which is a compelling subject). Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Obama
spars with Boehner as deadline looms The president said in a prime-time
speech that, unless Congress agrees quickly to a long-term increase in the debt
ceiling, “we would risk sparking a deep economic crisis.” In response, the
House speaker said that “the solution to this crisis is not complicated,” but
that he would not give the president a “blank check.” (Washington Post) [ Well,
it’s that darn teleprompter. Yeah, Mr. Teleprompter really craves that prime
time face time; you know, so close to the elections. ‘Grand
bargain’ talks fail as Boehner walks out House Speaker John Boehner’s
abandoning of talks with the White House throws into chaos efforts to raise the
legal limit on government borrowing with just 11 days before the U.S. Treasury
is due to run out of cash. (Washington Post) [ Geeh! And we were all just
getting excited / aroused having been told wobama’s got a Boehner … Not, they
say … but dem PIIGS got problems too. Europe’s
debt crisis threatens Italy (Washington Post) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that wobama’s
got a boehner … so not to be so hard on them; if pelosi says it, it must be
true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look
pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on
debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means
like Greecey PIIGS they’ll be back to the trough for more … slop … py. Obama,
Boehner push for ambitious debt plan Savings of $3 trillion over the next
decade would come from spending cuts and changes to entitlement programs, but
no immediate tax increases. (Washington Post) [Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA
INCOME STATEMENT:Total federal spending in 2010 amounted to
$3.456 trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010
deficit was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a
projected deficit of$1.6 trillion. …USA BALANCE SHEET: Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ Moody's
puts U.S. ratings on review for downgrade Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.).
Obama
tries to reassure his base (Washington
Post) [ Base? What base? Oh, riiiiight … silly me … that ethnic thing … you’re
talking about baseball … base on balls … as in walk … as in take a walk, take a
hike, etc.. If
election held today, Obama would lose in ‘landslide’ National Journal |
Those polls are even more ominous for the president. Drudgreport: Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job...
GALLUP
SHOCK: 'REPUBLICAN' BEATS OBAMA BY 8%
APPROVE:
42%
Return
of Mass Layoffs a Grim Sign...
Dollar
falls to all-time low against Swiss franc...
Obama Threatens Another Veto...
Just
hours after urging compromise...
Carney
Admits Obama Has No Plan...
CHAOS...
CLOCK
TICKING... NO
PANIC...
6
days from 'default', both sides scrambling...
FURY
OVER STALEMATE BOILS OVER...
House Dem leader urges Obama to raise debt ceiling without Congressional
approval...
SHOCK
POLL: 46% Think Most in Congress Corrupt...
WASHPOST/ABC:
Blacks, liberals flee in droves...
SANDERS:
Obama should face primary challenger...
The
Immelt Way: WH Advisor on Jobs Moving GE X-Ray Business to China...
OBAMA SECRETLY SIGNALS BANKS: 'NO DEFAULT'...
WH
to FOXNEWS: 'Tell your viewers there's nothing to worry about'...
A
party of scorpions The GOP refuses
to be rational in debt talks. (Washington Post) [ I am truly non-partisan. That
said, to ascribe irrationality to one party relative to the other is at best
disingenuous and intellectually dishonest, and at worst, a blatant falsehood
more commonly known as a lie. After all, we are talking about an
insurmountable, unsustainable debtload the likes of which, even if adjusted for
inflation, has never been seen on this planet. A
center vs. right debt fight Obama talks to the middle while Boehner rallies
the right. (Washington Post) [ Oh come on! There’s no justifying woboma here as
some principled, reasonable partisan moving gently to the middle for the sake
of the deal. Rather, he’s the desperate, failed ‘pol’ who’s hearing footsteps
in 2012; who’s told one lie too many ; who’s made the wrong choice one time too
many. People are tired of his b*** s*** and excuses. He’s failed miserably and
yet had the easiest act in the world to follow in the persona of fellow failed
president war criminal dumbya bush whose failed policies up to the real start
of the election cycle he’s largely followed. He’s become the personification of
that age-old joke; viz., (punchline) ‘looks like s***, smells like s***, tastes
like s*** … ‘good thing we didn’t step in it!’ Well, guess what? With ‘wobama
the b’ (for b***s***), we ‘stepped in it’. He’s all that … bad! Milbank:
Dealing with the Default Caucus (Washington Post) [ I just love ‘wobama the b’
(for b***s***) apologist in chief, Mr. Milbank. He’s so egalitarian; surprising
all by his colloquial reference to whom one might otherwise consider to be his
political polar opposite, and even political nemesis in the persona of Ronald
Reagan, so tritely referred to by Mr. Milbank as ‘The Gipper’ in whom Mr.
Milbank posits the inspiration, ‘heart and soul’, of ‘the new democratic
party’. What total b***s***! How about everyone, including Mr. Milbank,
realizing the dire predicament facing the nation owing to a now familiar
political strategy of ‘kicking the can’ down the road a piece till the problem
(insolvency of the nation) has as now become insurmountable and hence,
unsolvable. That’s where we’re at now! .
Top
3 Reasons Markets Were Down on More Debt Ceiling Fears Wall St. Cheat Sheet July 27, 2011, ‘Markets
closed down on Wall Street today: Dow -1.58% , S&P -2.02% , Nasdaq -2.65% ,
Oil -2.26% , Gold -0.22 % .
On the commodities
front, Oil fell to $97.34. Precious metals also fell, with Gold down to
$1,615.80 an ounce and Silver falling 0.86% to $40.35 an ounce.
Don’t Miss: Your
Cheat Sheet to the History of the U.S. Debt Ceiling.
Today’s markets were
down because:
1) Debt ceiling.
Probably the two dirtiest words in the American vocabulary today. President
Obama and members of Congress have been working for months on a budget deal
that both the Republican-led House and the Democrat-led Senate can agree upon,
to no avail. And neither side would agree to raise the debt ceiling until a
deficit-reduction plan is in place. Unfortunately, every bill proposed so far
has been shot down, and Republicans
are hurriedly working on another that will surely be shot down as well, by
members of both the right and left. Democrat and Senate Majority Leader Harry
Reid’s plan has a chance, with a significant amount of bipartisan support, but
we haven’t seen it yet, and it’s questionable whether the plan will make it
through a House vote. Oh yeah, and did I mention that the U.S. credit rating is
likely to be cut even if a bill is passed in time to raise the debt ceiling?
Apparently Reid’s and Boehner’s plans won’t cut enough to make ratings services
happy.
2 ) Weak economic data.
The Fed released their Beige
Book survey today showing that the economic recovery has severely slowed,
only compounding the depressing effect of news that durable goods orders fell
2.1% in June, which had Dow manufacturers like 3M , United Technologies ,
General Electric , and Caterpillar all trading in the red today.
According to the Fed’s report, consumer spending stagnated with higher fuel
prices taking a bite out of disposable income. The report also predicted little
improvement in jobless figures in the second half of the year.
3) Earnings. Fortunately
not all investors are taking their cues from the government. With earnings
report season in full swing, a few companies have seen shares skyrocket in the
last week on better-than-expected earnings reports. Just a few of the stocks
preventing the markets from completely bottoming out are Boeing
and Amazon
. Dunkin Brands also had a
bright IPO today.
BONUS: See
Why Oil Stocks Are in the Gutter.’
Live
Coverage: Robert Shiller and David Blitzer Break Down the Current Housing
Market Wall St. Cheat Sheet
Your
Cheat Sheet to the History of the U.S. Debt Ceiling Wall St. Cheat Sheet July 26, 2011, ‘We can all thank President Richard Nixon
for current debates over the national budget and the debt ceiling . In 1973,
the debt ceiling was $465 billion, and debt was set to hit that level in the
summer. In order to prevent the government from reaching its debt ceiling,
Nixon took it upon himself to “impound” $3.4 billion in Congressionally
appropriated funds. During that exertion of his executive power in a situation
that should have been left to the legislative branch, he paved the way for the Congressional Budget and Impoundment Control Act of 1974 ,
which established the Congressional budget process we have today and created
the Congressional Budget Office in order to limit the president’s power in the
future.
Of course, the history
of the debt ceiling dates back much further, to 1917 and the beginning of U.S.
involvement in World War I, when Congress passed the Second Liberty Bond Act in order to raise funds to pay for
the war. Since the act implemented the debt ceiling into law, it has been increased
77 times, surprisingly common considering the heated debate in Congress and
their inability to make a decision to increase the debt ceiling until they
agree on significant budget cuts. In fact, the debt ceiling has already been
increase three times during Obama’s presidency, twice in 2009 and once in 2010
when both the House and Senate were led by Democrats.
Don’t Miss: 9
Investments to Hedge Against a US Debt Default.
During President George
W. Bush’s two terms in office, the debt ceiling was raised 7 times, the first
time by a Republican-led House and a Democrat-led Senate in June 2002, the
second with a Republican majority in both houses less than a year later, and
the final time by a Democratic majority in both houses in November 2008. During
Bush’s tenure, the debt ceiling was increased from $5.95 trillion to $11.315
trillion.
Historically, both
Republican and Democratic leaders have witnessed significant increases to the
debt ceiling during their tenure, with lawmakers in both parties coming
together to make decisions. During President Clinton’s eight years in office,
the debt ceiling was raised four times, from $4.145 trillion to $5.95 trillion,
an increase of 43.5%, while the debt ceiling was raised a total of 17 times
during President Reagan’s two terms, tripling from $935.1 billion to $2.8
trillion. Even George H.W. Bush saw the ceiling increased four times during his
single term in office. Not including the current administration, 16 presidents
have served a total of 23 terms in office since the Second Liberty Bond Act was
passed. In that time, the debt ceiling was raised 74 times, averaging 3.22
increases per term — nearly once a year.
In that time, the
closest the government ever came to default was a last minute deal in 1979.
Though the deal was finalized in time, computer malfunctions led to $122
million in Treasury payments being delayed, technically amounting to temporary
default and thus permanently increasing interest rates by 0.6%, resulting in
$12 billion in additional annual debt payments, costing the government roughly
$384 billion to date. We can only imagine the toll a default, even temporary,
could take on today’s economy.
Though majority
leadership in both the House and Senate was continually fluctuating, with
divisions within and between Houses, between the legislative and executive
branches, members of each party, no matter how they were divided or which group
was in control, managed to increase the debt ceiling, while avoiding default, a
grand total of 77 times to date.’
Minyanville's
T3 Daily Recap: Market Rocked as Debt Fears Grow at Minyanville
Worst Day in Two Months Wipes Out Dow's July Gains at The Wall Street Journal
F-22
Pilots Found With Anti-Freeze, Propane in Bloodstream, Fleet Grounded at Minyanville ‘…According to the Air Force Times, blood tests of
F-22 pilots showed a host of chemicals, including anti-freeze, propane and burned
polyalphaolefin, a synthetic oil, after flights where they reported
experiencing cognitive problems. These toxins, along with carbon monoxide, may
be causing hypoxia, which is a lack of oxygen. Hypoxia can cause reduced brain
function and memory loss. F-22 pilots reported being unable to remember how to
change radio frequencies and scraping treetops when approaching the runway. In
November 2010, an F-22 crashed in Alaska and the pilot, Capt. Jeffrey
Haney, was killed. Sources told the Air Force Times that in his final
radio calls he sounded drunk, a symptom of hypoxia… There is a lot of nasty
stuff getting pumped into the pilots’ bloodstream through what they’re
breathing from that OBOGS [On-Board Oxygen Generation System] …The source, who
requested anonymity "for fear of retribution," continued: "These guys are getting tested for toxins and
they’ve [gotten] toxins out of their bloodstreams. One of the guys was
expelling propane."In the meantime, Air Force officials say that
"some test pilots at the base are flying their jets under a special waiver
granted to them to test an unrelated software upgrade."The operational
fleet, however, remains grounded, the Air Force Times' Majumdar writes,
"with pilots and ground crews practicing in simulators as much as they
can."But, he explains that "is not a real solution because the pilots
won’t be able to maintain currency."As another former F-22 pilot pointed
out, “After 210 days, they’ve got to start retraining everybody."At $350
million per plane (and $44,000/hr to operate), you'd think this sort of
thing would be covered under warranty.’
The 400 Richest Americans
Pay An 18% Tax Rate
Dick Bové: You Should Be Pissing Your Pants In Fear And Planning On
Staying Wet http://www.albertpeia.com/knownunknown.png Bess Levin ‘She recommends “suspending
investing since all stocks are likely to fall now,” getting liquid, and finding
a “safe haven” where you can draw the blinds and lay low until things blow
over.’
This
Time The Debt Ceiling Hike Really Is Different Zero Hedge| Never before has
the ratio of the proposed debt ceiling to the tax receipt ratio been as high as
it is now.
Sen. Paul
Speaks Out Against Boehner’s Bill Fox News| Paul discusses why he’s not in
support of Rep. John Boehner’s debt limit bill.
Down
To The Wire: Wednesday’s Congressional Vote On Boehner Plan Delayed Until
Thursday Tyler Durden | When describing the Boehner’s plan as perceived by
the CBO we used one key word: “laughable”.
Obama
“Will Not Take Yes For An Answer” On Debt Ceiling Debate Washington’s Blog
| House Speaker John Boehner says … “Unfortunately, the president would not
take yes for an answer,”
U.S.
markets stay calm amid debate Investors are getting antsy without a deal in
Washington, but the markets are not in freak-out mode. (Washington Post) [ Ah,
riiiiight! ‘Cool as cucumbers’ they are. Well, they still got the high
frequency, high volume, lightning speed computer manipulated churn-and-earn
going for them, on the way down as well; but, not alls well. There’ll certainly
be less in the way of funds for them to suck dry through various machinations
which obfuscate and literally hide their already crashed scam. A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.] Check out
this inflation calculator: http://www.albertpeia.com/inflationcalculator.htm
Previous: (Washington Post)
[ Yes … this sounds like a job for … Rosanne Rosanna Danna formerly of SNL fame, to chime in with a
reminder as her mama always used to say, ‘it’s always something’ … but
unfortunately, that somethin’ is not necessarily what they say it is. (from
2010) Reality is that the u.s. market needs no help from Asia or Ireland or
Greece, etc., to fall but here in the states they would love for you to think
that. The fact is that the u.s. market is way over-valued / over-bought,
floating on air and b*** s*** alone in this new bubble as in the last before
the previous crash that the wall street frauds and insiders commission
with high frequency churn-and-earn trade programs and sell into. I mean, forget about valuations,
security analysis, basic economics, etc. …
it’s suddenly, from out of nowhere, Ireland and China jamming on the
breaks … riiiiight! Come on! That dog don’t hunt no more! Lloyd, infra, lists
17 concerns right off the top. The decline certainly was no mystery to
Loundsbury, Roche, Maierhofer, Hussman, etc., infra, among many others.
… Fed Easing Is Not Aimed at
Weakening US Dollar: Dudley [
It doesn’t matter what they say … you can’t believe a word they say, like
no-recession ben shalom bernanke … and, contrary to rhetoric, their intent was
as preceding the last crash was to inflate earnings to froth the stock market
(to create the all too familiar bubble for wall street frauds and insiders to
commission with high frequency churn-and-earn trade programs and sell into ) by
debasing the fiat Weimar dollar currency.
] New York Fed President Bill Dudley, in one of the first Fed interviews
since the central bank’s policy came under attack at the G20 meetings in Seoul,
said critics were “off base” to believe the aim of the policy is to weaken the
U.S. dollar.] U.S. stocks continue recent slide amid deepening investor anxiety
about the global economy. The stock market continued its recent slide Tuesday
amid deepening investor anxiety about the global economy. Wall Street was
worried that Ireland could require a bailout, that China will jam the brakes on
its overheating economy ... Commodities
sink on China, European concerns BusinessWeek Summary Box: Stocks
Sink on Fear of China Slowdown Markets
may be near tipping point U.S. debt default could rock the global economy
at a vulnerable time, with growth already slowing in Asia. (Washington Post) [
‘Tipping point’? ‘May’? Yes, May. You should have sold in May and gone away! The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Previous: Suckers’ rally
into the close off lows based on bad news and b*** s*** alone as previously: Initial
unemployment claims
rise to 418000 - Jul.
21, 2011 which bad news sparked wall street rally … what total
b***s***. No budget deal, celebrated Greek Plan – DEFAULT! … sounds like a
plan!…, backward looking earnings results … riiiiight! Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon
A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.]
Check out this inflation calculator: http://www.albertpeia.com/inflationcalculator.htm
National / World
If
election held today, Obama would lose in ‘landslide’ National Journal |
Those polls are even more ominous for the president.
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
Fed
audit highlights possible conflicts Report finds that lending programs
generally have sound management, but also face difficult issues.(Washington
Post) [ Possible? Oh come now! If there’s one man, entity, Washington interest,
etc., that’s been and is concerned with conflicts it’s
‘no-recession-helicopter-ben-b.s.-bernake’ et als and anything that conflicts
with the huge wall street money / paper frauds that continue as we speak of
them. Come on! Does anybody buy any of the b***s*** from him or his ilk.
‘Conflicts are US’ is the prevailing entity / pressure group / reality in
Washington these days and with all the negative, diabolical consequences
therefrom, economically, financially, and otherwise. Geithner
says hard times to continue for many [ But not for his frauds on
wall street for whom everyone’s expected to keep sacrificing; and, ultimately
their negative churn-and-earn in real economic terms has to come from some
place, ie., you, yours, main street, etc., and has manifested in the QE’s,
etc.. Well, there you have it. The product of his, wobama et als’ policies;
viz., unhappy days are here again’ or, hard times for most are here to stay,
or, you get the picture, your pain their gain.
] A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was trading
at 11,357 levels at the beginning of the year 2000. More than a decade later
(as of beginning July 2011), the index is at 12582. Therefore, the index has
gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator immediately above
the current date on this page – and that’s just the government (inflation)
numbers … reality is much worse!} Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.] Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To
Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis.
Once again I see all the
“canaries in the mine,” which warned of the 2008 crisis. My just released
book, Financial Apocalypse , provides the clues and the road map, with charts, of
how my indicators successfully predicted the meltdown that occurred in
the fall of 2008. This book is a guide for detecting the next crisis whenever
it occurs. History repeats, or at minimum, it rhymes.
My work shows that “the
new recession has started.” The May 9 issue of the Wellington
Letter was headlined:
“Return of the Double-Dip.” At the time, economists were looking for a
great economy in the second half. Now they talk about a “soft patch.”
Over the past 33 years, we have called the start of every recession, often on
the exact month, or within one month, of the official start as determined one
year later by the official arbiter of recession, the National Bureau of
Economic Research (NBER).
How can we be in
recession now when the GDP still shows growth? Because of improper inflation
adjustments. “Real” GDP growth, the headline number, is nominal growth minus
the rate of inflation. However, inflation is far understated for political
reasons.
Currently, the GDP
deflator is 1.8%, which hardly reflects the true rise in prices. Therefore,
what is counted as “growth,” is actually price increases. Actual inflation,
according to free market economists who calculate inflation as it was done in
1980 before the politician re-engineered it, is now more than 11%. Using that
to adjust GDP for inflation, would show that the economy is now in a very sharp
contraction.
When the current
euphoric earnings forecasts of Wall Street finally reflect that via significant
“earnings downgrades,” the stock market will see a serious “adjustment” as
well.
On July 18, Goldman
Sachs (GS)
substantially lowered its economic growth forecast. Marketwatch.com had this
headline: Goldman Sachs slashes Economic Forecasts. The next step will be for them to substantially
reduce earnings forecasts for the S&P 500.
Will the phase II be as
bad as the 2008 crisis? The last crisis was confined to the private sector,
i.e. financial institutions. The next one will be involve the threatened
default of entire countries. The last time, the central banks bailed out the
financial firms and even Warren Buffett bailed out several firms. Who is big
enough to bail out entire countries? Or will the term of “too big to fail” turn
to “too big to bail?”
Gallery:
Key players shaping economic policy (Washington Post) [ Is this some kind of a
joke? Key players? If this were a game, those ‘key players’ would certainly be
on the other side / team. I mean, come on! Look at their results! Nothing short
of disasterous. And, in case you hadn’t noticed, ‘this is no game’. Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator immediately above
the current date on this page – and that’s just the government (inflation)
numbers … reality is much worse!} Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.]
Vote
on Boehner bill delayed after analysis Washington barreled closer to crisis
as House Speaker Boehner and Senate Majority Leader Reid scrambled to build
support for rival plans to control the national debt, but both appeared doomed
without significant modifications. (Washington Post) [ Psychoanalysis? Oh, yeah
… that other kind of analysis, that deals with numbers and things and logic.
Okay … sounds like a plan … or, at least planning to have a plan. But let’s not
dismiss psychoanalysis so quickly either. After all, they are americans … after
all; and particularly, D.C. Washingtonian americans at that ( I did a brief
paper on psychoanalysis / psychoanalytic method http://albertpeia.com/psychoanalyticmethod82309.htm which is a compelling subject). Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Obama
spars with Boehner as deadline looms The president said in a prime-time
speech that, unless Congress agrees quickly to a long-term increase in the debt
ceiling, “we would risk sparking a deep economic crisis.” In response, the
House speaker said that “the solution to this crisis is not complicated,” but
that he would not give the president a “blank check.” (Washington Post) [ Well,
it’s that darn teleprompter. Yeah, Mr. Teleprompter really craves that prime
time face time; you know, so close to the elections. ‘Grand
bargain’ talks fail as Boehner walks out House Speaker John Boehner’s
abandoning of talks with the White House throws into chaos efforts to raise the
legal limit on government borrowing with just 11 days before the U.S. Treasury
is due to run out of cash. (Washington Post) [ Geeh! And we were all just
getting excited / aroused having been told wobama’s got a Boehner … Not, they
say … but dem PIIGS got problems too. Europe’s
debt crisis threatens Italy (Washington Post) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must
be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look
pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on
debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means
like Greecey PIIGS they’ll be back to the trough for more … slop … py. Obama,
Boehner push for ambitious debt plan Savings of $3 trillion over the next
decade would come from spending cuts and changes to entitlement programs, but
no immediate tax increases. (Washington Post) [Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC.
- INCOME STATEMENT If
the United States was a corporation - USA Inc. - here's what the Income
Statement would look like:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
INC. - BALANCE SHEET If you think the Income Statement looks
bad, you may not want to look at the Balance Sheet. Consensus estimates for
unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion,
PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while
other estimates exceed $100 trillion (these amounts are insurmountable) …’ Moody's
puts U.S. ratings on review for downgrade Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.).
Federal
Reserve can’t rescue debacle (Washington Post) [ Are you sure about that?
After all, they’ve certainly been
instrumental in creating this crisis; and for quite some time the fed’s
been admonished for doing exactly that. Here’s a straight shooter from across
the pond who was appalled by what he saw in clinton’s Arkansas / then u.s.
(although his ‘england’ / great britain is worse for wear and has itself
devolved into comparable orwellian and worse madness). ‘The
Kabuki theatre of America’s Debt Ceiling Jul
26th, 2011 by News By Ambrose Evans-Pritchard (The Telegraph) http://www.usagold.com/cpmforum —
Calm down. The US will not miss a coupon payment on its $14.3tn debt next
Wednesday.A genuine default would be “Lehman on Steroids” in the words of
Ex-Treasury secretary Larry Summers. Precisely for that reason President Obama
will not pull the trigger, EVEN IF the debt ceiling talks break down in
acrimony. Obama still has a clutch of cards to play, in extremis. [One
example]…the US Treasury could eliminate the Fed’s entire holding of Treasury
bonds at a stroke, gaining an extra two years. This would be a simple
accounting transaction. Ben Bernanke might feel uncomfortable, and gold might blast to $3,000, but
the Bernanke Fed has proved itself supple.’ Your
Cheat Sheet to the History of the U.S. Debt Ceiling Wall St. Cheat Sheet July 26, 2011, ‘We can all thank President Richard Nixon
for current debates over the national budget and the debt ceiling . In 1973,
the debt ceiling was $465 billion, and debt was set to hit that level in the
summer. In order to prevent the government from reaching its debt ceiling,
Nixon took it upon himself to “impound” $3.4 billion in Congressionally
appropriated funds. During that exertion of his executive power in a situation
that should have been left to the legislative branch, he paved the way for the Congressional Budget and Impoundment Control Act of 1974 ,
which established the Congressional budget process we have today and created
the Congressional Budget Office in order to limit the president’s power in the
future.
Of course, the history
of the debt ceiling dates back much further, to 1917 and the beginning of U.S.
involvement in World War I, when Congress passed the Second Liberty Bond Act in order to raise funds to pay for
the war. Since the act implemented the debt ceiling into law, it has been
increased 77 times, surprisingly common considering the heated debate in
Congress and their inability to make a decision to increase the debt ceiling
until they agree on significant budget cuts. In fact, the debt ceiling has
already been increase three times during Obama’s presidency, twice in 2009 and
once in 2010 when both the House and Senate were led by Democrats.
Don’t Miss: 9
Investments to Hedge Against a US Debt Default.
During President George
W. Bush’s two terms in office, the debt ceiling was raised 7 times, the first
time by a Republican-led House and a Democrat-led Senate in June 2002, the
second with a Republican majority in both houses less than a year later, and
the final time by a Democratic majority in both houses in November 2008. During
Bush’s tenure, the debt ceiling was increased from $5.95 trillion to $11.315
trillion.
Historically, both
Republican and Democratic leaders have witnessed significant increases to the
debt ceiling during their tenure, with lawmakers in both parties coming together
to make decisions. During President Clinton’s eight years in office, the debt
ceiling was raised four times, from $4.145 trillion to $5.95 trillion, an
increase of 43.5%, while the debt ceiling was raised a total of 17 times during
President Reagan’s two terms, tripling from $935.1 billion to $2.8 trillion.
Even George H.W. Bush saw the ceiling increased four times during his single
term in office. Not including the current administration, 16 presidents have
served a total of 23 terms in office since the Second Liberty Bond Act was
passed. In that time, the debt ceiling was raised 74 times, averaging 3.22
increases per term — nearly once a year.
In that time, the
closest the government ever came to default was a last minute deal in 1979.
Though the deal was finalized in time, computer malfunctions led to $122
million in Treasury payments being delayed, technically amounting to temporary
default and thus permanently increasing interest rates by 0.6%, resulting in
$12 billion in additional annual debt payments, costing the government roughly
$384 billion to date. We can only imagine the toll a default, even temporary,
could take on today’s economy.
Though majority
leadership in both the House and Senate was continually fluctuating, with
divisions within and between Houses, between the legislative and executive
branches, members of each party, no matter how they were divided or which group
was in control, managed to increase the debt ceiling, while avoiding default, a
grand total of 77 times to date.’
A
party of scorpions The GOP refuses
to be rational in debt talks. (Washington Post) [ I am truly non-partisan. That
said, to ascribe irrationality to one party relative to the other is at best
disingenuous and intellectually dishonest, and at worst, a blatant falsehood
more commonly known as a lie. After all, we are talking about an
insurmountable, unsustainable debtload the likes of which, even if adjusted for
inflation, has never been seen on this planet. A
center vs. right debt fight Obama talks to the middle while Boehner rallies
the right. (Washington Post) [ Oh come on! There’s no justifying woboma here as
some principled, reasonable partisan moving gently to the middle for the sake
of the deal. Rather, he’s the desperate, failed ‘pol’ who’s hearing footsteps
in 2012; who’s told one lie too many ; who’s made the wrong choice one time too
many. People are tired of his b*** s*** and excuses. He’s failed miserably and
yet had the easiest act in the world to follow in the persona of fellow failed
president war criminal dumbya bush whose failed policies up to the real start
of the election cycle he’s largely followed. He’s become the personification of
that age-old joke; viz., (punchline) ‘looks like s***, smells like s***, tastes
like s*** … ‘good thing we didn’t step in it!’ Well, guess what? With ‘wobama
the b’ (for b***s***), we ‘stepped in it’. He’s all that … bad! Milbank:
Dealing with the Default Caucus (Washington Post) [ I just love ‘wobama the b’
(for b***s***) apologist in chief, Mr. Milbank. He’s so egalitarian; surprising
all by his colloquial reference to whom one might otherwise consider to be his
political polar opposite, and even political nemesis in the persona of Ronald Reagan,
so tritely referred to by Mr. Milbank as ‘The Gipper’ in whom Mr. Milbank
posits the inspiration, ‘heart and soul’, of ‘the new democratic party’. What
total b***s***! How about everyone, including Mr. Milbank, realizing the dire
predicament facing the nation owing to a now familiar political strategy of
‘kicking the can’ down the road a piece till the problem (insolvency of the
nation) has as now become insurmountable and hence, unsolvable. That’s where
we’re at now! . Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been
so for a long time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC. - INCOME STATEMENT If the United States was a
corporation - USA Inc. - here's what the Income Statement would look like:Total
federal spending in 2010 amounted to $3.456 trillion. Total receipts added up
to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011
federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA
INC. - BALANCE SHEET If you think the Income Statement looks bad, you may not
want to look at the Balance Sheet. Consensus estimates for unfunded obligations
vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross
estimates the unreported debt to be $75 trillion, while other estimates exceed
$100 trillion (these amounts are insurmountable) …’ IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know it / feel it! Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell Is
America The Next Greece? at Forbes Marc Schindler ‘After
many years of overeating (overspending) Greece is in the emergency room with a
major financial heart attack and America isn’t far behind.The doctors (IMF,
European finance ministers, the ECB, etc.) are running around trying to save it.
Open heart surgery (loans guaranteed by others) has averted the immediate
crisis, but Greece is just as overweight today as it was before the crisis.
Attempts to lose weight through exercise (austerity measures) cause serious
chest pains (riots). The doctors don’t want to admit it, but all signs point to
a heart transplant (default) as the only way to get Greece onto its feet
again.Greece isn’t the only one. It is a veritable epidemic. Ireland, Italy,
Portugal, Spain and a host of other countries are having chest pains. Iceland
is feeling better now with its freshly transplanted heart. The American home
owner is still in the hospital from his financial heart attack after gobbling
up vast quantities of real estate, and it has been many decades since Uncle Sam
last could see his toes. By most
accounts (e.g. here
or Bill
Gross‘ statements in a recent interview) total hidden government
liabilities add up to about $60-$100 trillion. That is on top of the $14
trillion of debt carried on the balance sheet. Adding up those liabilities, the
US owes at least five times GDP, which currently sits at about $15 trillion.
For comparison, Greece’s debt is about 1.5 times its GDP…’ Pity the Policymakers July 21st, 2011 by News
by Mohamed A. El-Erian (Project Syndicate) — ‘I don’t know about you,
but whenever I am in an airplane experiencing turbulence, I draw comfort from
the belief that the pilots sitting behind the cockpit’s closed door know what
to do. I would feel very differently if, through an open door, I observed
pilots who were frustrated at the poor responsiveness of the plane’s controls,
arguing about their next step, and getting no help whatsoever from the
operator’s manuals. So it is unsettling that policymakers in many Western
economies today resemble the second group of pilots. This perception reflects
not only the contradictory pronouncements and behavior of policymakers, but
also the extent to which economic outcomes have consistently fallen short of
their expectations.This perception is evident in Europe, the United States, and
Japan, where indicators of economic sentiment are deteriorating again,
already-weak recoveries are stalling, and over-stretched balance sheets are
becoming even more precarious.’
Will:
Obama is the debt problem (Washington Post) [ If ‘wobama the b’ (for
b***s***) was only the debt problem, there’d be some hope. But alas, Mr. Perma
War, Mr. No Pros Wall Street, Mr. Teleprompter, and more all rolled into one,
it’s difficult now to see where one wobama-induced (by failing to heed his own
campaign promises upon which he was elected) problem ends and another begins.
Indeed, an amorphous amalgamation of problematic scenarios that defy, based on
his/their own own lack of perspective/knowledge, their ability to identify the
problems much less solve them. America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
In early May my thesis
on the market was setting up for a significant market crash, based upon an
unsustainable bid occurring in equities. The damage manifesting under the hood
was indicative of such a crash comparable to 1987; one that would result in
testing the March 2009 lows. Since that time, the market has undergone a
consolidation process through time rather than a function of lower prices.
I see two distinct developments that will shape our direction over the short,
intermediate and long term.
US Equity Market Forecasts and Key Assumptions
The market continues to pull back on global macro problems, and conversely,
trade higher on short-term debt solutions, robust Q2 earnings and recent
improving economic data. Beneath the surface, fundamental deterioration
continues, despite central bank/government efforts to stimulate economic
activity. Share prices benefit from record profit margins and high M&A activity,
yet real GDP, income, and employment growth continue to fade. A concerning
development surfaced last week regarding consumer
credit spending habits. Rising inflation costs on daily
necessities are forcing middle and lower class Americans to their credit cards
for survival. Elevated unemployment and poor housing numbers will continue to have
a lack of improvement.
It is now evident that government intervention will continue and the likely
ramifications won’t be felt until after the 2012 elections. With that said, the
headline risk remains to the downside and the bogey to lower equity prices in
the short to intermediate term is concentrated on the U.S. Debt ceiling. At
some point, not only must all developed economies deal with marking down to the
level of income, but we must restructure large amounts of excess leverage.
Until we accomplish this, growth will be problematic.
Winston Churchill characterized the U.S. when he said, “You can always count on
Americans to do the right thing after they’ve tried everything else.” S&P
said Friday that, even if Congress raises the debt limit in time to avert a
default, it might lower the U.S. sovereign rating to AA+ with a negative
outlook if it isn’t accompanied by a “credible solution” on the debt level.
This would be viewed anything less than $3 trillion and I’m looking for such a
downgrade to come to fruition. S&P forecasts short-term interest rates
would rise by 0.50 percentage points and long-term interest rates by 1
percentage point. The markets are clearly discounting eurozone debt
restructuring and are not pricing in a domestic debt ceiling debacle. If the
equity markets are to take issue with the inability to raise the debt ceiling,
the bullish scenario will in fact become void. We will face continued pressure
across equity markets until a resolution is offered. I expect to encounter a
limit down futures market if the news of a failed debt ceiling passage comes
out of market hours and a similar selling environment as to when TARP
originally was vetoed, down 7.8 percent in one afternoon … http://image.minyanville.com/assets/FCK_Jan2011/Image/July11/ppr7251b.jpg … ’
Live
Coverage: Robert Shiller and David Blitzer Break Down the Current Housing
Market Wall St. Cheat Sheet
Your
Cheat Sheet to the History of the U.S. Debt Ceiling Wall St. Cheat Sheet July 26, 2011, ‘We can all thank President Richard Nixon
for current debates over the national budget and the debt ceiling . In 1973,
the debt ceiling was $465 billion, and debt was set to hit that level in the
summer. In order to prevent the government from reaching its debt ceiling,
Nixon took it upon himself to “impound” $3.4 billion in Congressionally
appropriated funds. During that exertion of his executive power in a situation
that should have been left to the legislative branch, he paved the way for the Congressional Budget and Impoundment Control Act of 1974 ,
which established the Congressional budget process we have today and created
the Congressional Budget Office in order to limit the president’s power in the
future.
Of course, the history
of the debt ceiling dates back much further, to 1917 and the beginning of U.S.
involvement in World War I, when Congress passed the Second Liberty Bond Act in order to raise funds to pay for
the war. Since the act implemented the debt ceiling into law, it has been
increased 77 times, surprisingly common considering the heated debate in
Congress and their inability to make a decision to increase the debt ceiling
until they agree on significant budget cuts. In fact, the debt ceiling has
already been increase three times during Obama’s presidency, twice in 2009 and
once in 2010 when both the House and Senate were led by Democrats.
Don’t Miss: 9
Investments to Hedge Against a US Debt Default.
During President George
W. Bush’s two terms in office, the debt ceiling was raised 7 times, the first
time by a Republican-led House and a Democrat-led Senate in June 2002, the
second with a Republican majority in both houses less than a year later, and
the final time by a Democratic majority in both houses in November 2008. During
Bush’s tenure, the debt ceiling was increased from $5.95 trillion to $11.315
trillion.
Historically, both
Republican and Democratic leaders have witnessed significant increases to the
debt ceiling during their tenure, with lawmakers in both parties coming
together to make decisions. During President Clinton’s eight years in office,
the debt ceiling was raised four times, from $4.145 trillion to $5.95 trillion,
an increase of 43.5%, while the debt ceiling was raised a total of 17 times
during President Reagan’s two terms, tripling from $935.1 billion to $2.8
trillion. Even George H.W. Bush saw the ceiling increased four times during his
single term in office. Not including the current administration, 16 presidents
have served a total of 23 terms in office since the Second Liberty Bond Act was
passed. In that time, the debt ceiling was raised 74 times, averaging 3.22
increases per term — nearly once a year.
In that time, the
closest the government ever came to default was a last minute deal in 1979.
Though the deal was finalized in time, computer malfunctions led to $122
million in Treasury payments being delayed, technically amounting to temporary
default and thus permanently increasing interest rates by 0.6%, resulting in
$12 billion in additional annual debt payments, costing the government roughly
$384 billion to date. We can only imagine the toll a default, even temporary,
could take on today’s economy.
Though majority
leadership in both the House and Senate was continually fluctuating, with
divisions within and between Houses, between the legislative and executive
branches, members of each party, no matter how they were divided or which group
was in control, managed to increase the debt ceiling, while avoiding default, a
grand total of 77 times to date.’
Soros
Exits And Takes A Cheap Shot At Regulators at Forbes George
Soros Retires From Hedge Fund Management
Top 3
Reasons Markets Were Down After Obama and Boehner Showdown Wall St. Cheat Sheet July 26, 2011, ‘Markets closed down on Wall Street today: Dow -0.72%
, S&P -0.40% , Nasdaq -0.10% , Oil +0.27% , Gold +0.49 %.
On the commodities
front, Oil climbed to $99.47. Precious metals also gained, with Gold up to
$1,622.30 an ounce and Silver climbing 1.50% to $40.97 an ounce.
Don’t Miss: Your
Cheat Sheet to the History of the U.S. Debt Ceiling.
Today’s markets were
down because:
1) Obama/Boehner . Last
week they were working together and everyone was confident that a budget deal
was on its way, but when House Speaker Boehner walked out on talks on Friday,
that no longer looked to be the case. Then last night, Obama addressed the
nation, re-affirming his intention to veto any deal that didn’t include both
tax revenue and spending cuts. Following his address, Boehner
spoke, criticizing Obama’s inability to compromise while himself refusing
to compromise with the president. The Treasury’s deadline is now only 7 days
away, and there isn’t even a complete bill currently before the House or
Senate, and yet investors aren’t panicking. Markets are down, but not as much
as would be expected if the economy was about to be dealt as huge a blow as
would be a government default on the debt . Whether it’s because people don’t
understand just what a default could mean for the economy, or because they are
confident their lawmakers will come to a resolution in time, investors aren’t
running scared. The current state of budget talks may be preventing markets
from climbing excessively, but they don’t seem to be depressing them much
either.
2) Earnings. Were it not
for the weight of the debt ceiling, today’s markets may have been fared better.
With 75% of S&P 500 companies beating earnings expectations in their latest
quarters, this earnings season has been overwhelmingly positive, and points to
increased spending that, if given the chance, could stimulate the economy into
the recovery we’ve been waiting on. A lot of the the biggest earners during the
latest quarter were tech companies, including Chinese Internet search company Baidu
with second quarter earnings climbing 95% over a year earlier, and Apple
reported net income twice that of the previous year.
3) New home sales. For
the second month in a row, new home sales slipped in June, with the Census
Bureau reporting an annual sales rate of 312,ooo new homes last month, down
from 315,000 in May. That’s bad news for the housing market considering this
time of year usually sees increasing sales. However, June sales were still up
1.6% over last year, so like most of our economic news of late, it’s effect on
the markets hasn’t been wholly negative or positive. And Case-Shiller
said housing prices actually rose month over month’ (but this is a seasonal
thing which was not adjusted as such).
Recovery
Job Growth Concentrated In Low-Paying Occupations Huffington Post | Workers navigating
the current labor market are facing a “significant good jobs deficit.”
A lesson from Greece UPI | Economists seem not so
surprised Moody’s Investor’s Service downgraded Greek bonds.
Geithner
gave Fed official waiver on AIG holdings Reuters | Geithner waiver allowed William Dudley to hold
investments in firms getting emergency help.
Goldman Launches The SS
QE3 Tyler Durden |
Oh well, the recovery was fun while it lasted.
HuffPo-AOL
Admits We’re in a Depression… Sorta Kurt
Nimmo | Few are calling it what it is — a Greater Depression
engineered by the Federal Reserve.
Debt
Ceiling Intransigence: Unintended Consequences… Dr. Paul Craig Roberts |
Which party is responsible for intransigence on raising the debt ceiling?
Republicans say the Democrats are, and Democrats say the Republicans are.
IMF
chief urges U.S. to immediately resolve debt spat Reuters | IMF chief
Christine Lagarde on Tuesday urged the United States to quickly resolve a
political stalemate over raising the debt ceiling.
The
Federal Reserve ADMITS that Its 12 Banks Are PRIVATE – Not Government –
Entities Washintong’s Blog |
Much of the tens of trillions in bailout money and “easy” money from
quantitative easing went to foreign banks.
Americans
increasingly unhappy with Washington’s effort on jobs, poll finds More
Americans are unhappy with how both President Obama and congressional
Republicans have handled the economy.
(Washington Post) [ Duh! Ya think? Unemployment
up in 28 states in JuneThe rate for the District surpassed the national
rate, up to 10.4 percent (Washington Post) [ Well there you go say the
bernanken wobomanoids! Great news in that there’s no reported change in 22
other states (yet). Yeah! Happy days are here again! The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Initial
unemployment claims
rise to 418000 - Jul.
21, 2011 which bad news sparked wall street rally … what total
b***s***. No budget deal, celebrated Greek Plan – DEFAULT! … sounds like a
plan!…, backward looking earnings results … riiiiight! Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon Tech up today? Absolute confirmation of dire
prospects worldwide since american tech is horrendous. Yet, sizzling ‘child’s
play’ is the order of the day and credit still must be given to those [ie.,
Steve Jobs-I’m truly glad he saved Apple, my first computer (apple IIc for word
processing / data based records/forms/templates/data which I interfaced with an
electric typewriter for letter quality)] who could (as he) identify such novelties
as the biggest over-priced / over-valued sensations since the hoola hoop (which
were pretty cheap and with some minor health benefits to boot).Take this run-up
as a gift based on fraudulent wall street b***s*** alone and take this
opportunity to sell / take profits / ‘sell today if you missed in may and then
go away’! Nothing has been solved; maybe forestalled. This is the umpteenth
rally based upon the ‘solution’. The ubiquitous problems make the notion of a
‘Gordian Knot’ a mere tinker toy in comparison. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC.
- INCOME STATEMENT If
the United States was a corporation - USA Inc. - here's what the Income
Statement would look like:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
INC. - BALANCE SHEET If you think the Income Statement looks
bad, you may not want to look at the Balance Sheet. Consensus estimates for
unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion,
PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while
other estimates exceed $100 trillion (these amounts are insurmountable) …’ Huge suckers’ rally to
keep the suckers suckered in this market based upon backward looking data
discounted multiple times to the upside (including the apple numbers as
recently as last week on ‘leaked’ expectations of ‘better than expected’,
etc.), taxpayer funded QE results, and b***s*** alone. This is an especially
great opportunity to sell / take profits since there’s much, much worse to
come! IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know it / feel it! Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell ] A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator immediately above
the current date on this page – and that’s just the government (inflation)
numbers … reality is much worse!} Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.] Check out this
inflation calculator: http://www.albertpeia.com/inflationcalculator.htm The Economic Collapse ‘The following are 15 examples that show many Americans
have become so desperate that they will do just about anything for money….
#1 In Utah, one unemployed 28 year old man is offering
to be “human prey” for hunters for the bargain price
of $10,000. For an additional $2,000, he will let people hunt him
down while he is running around naked.
#2 The Huffington Post is
reporting that there has been an epidemic of air conditioning thefts all
over the United States….
Across the country, in states like Illinois, Texas, Arizona,
Georgia and Florida, there have been reports of thieves stealing unsecured air
conditioning units weighing as much as 125 pounds.
#3 In Corpus Christi, Texas thieves have actually been
breaking into funeral homes in order to steal
the embalming fluid.
#4 Even police officers are committing desperate acts
these days. Just check out what one police officer in Chicago is charged with doing….
A Chicago Police officer stole $50,000 from his ailing elderly
father to pay off his bills and gambling debts and unsuccessfully attempted to
swipe his dad’s retirement savings by impersonating him
#5 Nothing is off limits to thieves these days.
Criminals recently broke into a southwest Atlanta beauty supply store and took
off with $30,000 in hair extensions.
#6 In another area of Atlanta,
thieves have been breaking down walls and busting bathroom fixtures with
sledgehammers in order to get their hands on copper, brass and steel….
Kids in two Atlanta communities won’t have their neighborhood
pools to help beat the summer heat, at least for now. Thieves used what is
believed to be sledge hammers to bust walls and break fixtures in bathrooms at
Adams and South Bend parks to steal copper, brass and steel.
#7 One grandmother in Florida has been accused of
trying to sell her newborn grandson for $75,000.
#8 In Antioch, California a total of
approximately 300 power poles were recently
knocked down by thieves and stripped of their copper wiring.
#9 In Minnesota recently, a mob of teen girls brutally
pummeled a mother and her two daughters until they were black
and blue. Apparently the mob of teen girls was enraged over a pair of
missing sunglasses.
#10 In Asheville, North Carolina thieves recently took
off with 4 metal tables and
16 metal chairs that were sitting outside a pizzeria.
#11 In Florida, thieves have actually been
stealing storm drain covers.
#12 In Oregon, thieves recently broke into a Salvation
Army community center and stole 3 large air conditioning units.
Now all the people that come to that facility for help and for community
programs this summer will be absolutely sweltering.
#13 In the Cleveland area, two young boys that had set
up a lemonade standwere robbed in broad
daylight. The crooks got away with approximately 12 dollars.
#14 In Oklahoma, thieves recently broke into a church
and stole “arts
and crafts supplies meant to help teach bible stories to children“.
#15 A 59 year old man from North Carolina named Richard
James Verone was so desperate for money that he actually robbed a bank and got caught on
purpose so that he could be put in prison and be given free health care.
Markets
may be near tipping point U.S. debt default could rock the global economy
at a vulnerable time, with growth already slowing in Asia. (Washington Post) [
‘Tipping point’? ‘May’? Yes, May. You should have sold in May and gone away! The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Previous: Suckers’ rally
into the close off lows based on bad news and b*** s*** alone as previously: Initial
unemployment claims
rise to 418000 - Jul.
21, 2011 which bad news sparked wall street rally … what total
b***s***. No budget deal, celebrated Greek Plan – DEFAULT! … sounds like a
plan!…, backward looking earnings results … riiiiight! Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon
National / World
Mutilated
pro-Gaddafi soldiers found dead in rebel-controlled area: report RT | A mass-grave of alleged
pro-Gaddafi soldiers has been discovered in a rebel-controlled area in Libya
Man
Who Knew Anders Behring Breivik Says He Was Brainwashed RT | Ulav Andersson, who knows and
worked with Breivik, says he may have been brainwashed.
Europol to
Investigate Non-Islamic Terror Kurt
Nimmo | EU agency to investigate so-called right-wing, although
more violence comes from the left.
The Worst Run State in
America? Not California [California’s #2] Oct. 8
2010 ‘Kentucky is worst run state in the nation. The best financially managed
state? Wyoming. And which state has the highest percentage of people living
below the poverty line? Arkansas.
These are just some of
the findings from 24/7
Wall Street’s comprehensive study of states’ financial management. The
rankings were based on a number of metrics including unemployment rate, debt
per capita, home price change between 2006 and 2009 and median household
income.
The study also found
that Delaware (home to many financial services companies) has the best
credit rating in the country. California has the worst credit rating (no
shocker there.) And Texas is home to the lowest percentage of high school
graduates over age 25. Meanwhile, South Carolina and Nevada see the most
violent crime than any other state in the country. (Unfortunately for those
folks in Nevada the state has one of the highest percentages of people without
health insurance.)
24/7 Wall Street comes
to this conclusion about its rankings: “Well-run states have a great deal in
common with well-run corporations. Books are kept balanced. Investment is
prudent. Debt is sustainable. Innovation is prized. Workers are well-chosen and
well-trained. Executives are picked based on merit and not ‘politics.’”
Check out the list for a
few surprises like California coming in as a runner-up for the worst run state
in the country. Thanks to Kentucky’s overall terrible performance, Governor
Schwarzenegger can sleep well knowing someone else is doing a worse job.
Kentucky’s troubles
include having one of the lowest GDP per capita, it ranks 47th in median
household income, and it’s ranked 49th for having one of the highest
percentages (18.6%) of people below the poverty line. I wonder what the Tea
Party’s favorite Kentucky candidate Rand Paul would say about this.’
Tiger death
in Indonesia blamed on paper firm [ indonesia, as well as india are
going to suffer for their recent killing of those big cats! REPORT:
Mountain Lion Killed in CT Came From SD... add connecticut to the
suffering list!]
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
Obama
spars with Boehner as deadline looms The president said in a prime-time
speech that, unless Congress agrees quickly to a long-term increase in the debt
ceiling, “we would risk sparking a deep economic crisis.” In response, the
House speaker said that “the solution to this crisis is not complicated,” but
that he would not give the president a “blank check.” (Washington Post) [ Well,
it’s that darn teleprompter. Yeah, Mr. Teleprompter really craves that prime
time face tame; you know, so close to the elections. ‘Grand
bargain’ talks fail as Boehner walks out House Speaker John Boehner’s
abandoning of talks with the White House throws into chaos efforts to raise the
legal limit on government borrowing with just 11 days before the U.S. Treasury
is due to run out of cash. (Washington Post) [ Geeh! And we were all just
getting excited / aroused having been told wobama’s got a Boehner … Not, they
say … but dem PIIGS got problems too. Europe’s
debt crisis threatens Italy (Washington Post) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop …
py. Obama,
Boehner push for ambitious debt plan Savings of $3 trillion over the next
decade would come from spending cuts and changes to entitlement programs, but
no immediate tax increases. (Washington Post) [Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC.
- INCOME STATEMENT If
the United States was a corporation - USA Inc. - here's what the Income
Statement would look like:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
INC. - BALANCE SHEET If you think the Income Statement looks
bad, you may not want to look at the Balance Sheet. Consensus estimates for
unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion,
PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while
other estimates exceed $100 trillion (these amounts are insurmountable) …’ Moody's
puts U.S. ratings on review for downgrade Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Political
ends, but little more THE TAKE | By
the time they finished, it was clear why Republicans and Democrats are no
closer to a deal. (Washington Post) [ Political ends? How ‘bout pervasively
corrupt, defacto bankrupt america ends; at least as we knew it! That’s reality!
‘The Take’? Yeah, they’re all on the take!
‘Grand
bargain’ talks fail as Boehner walks out House Speaker John Boehner’s
abandoning of talks with the White House throws into chaos efforts to raise the
legal limit on government borrowing with just 11 days before the U.S. Treasury
is due to run out of cash. (Washington Post) [ Geeh! And we were all just
getting excited / aroused having been told wobama’s got a Boehner … Not, they
say … but dem PIIGS got problems too. Europe’s
debt crisis threatens Italy (Washington Post) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop …
py. Obama,
Boehner push for ambitious debt plan Savings of $3 trillion over the next
decade would come from spending cuts and changes to entitlement programs, but no
immediate tax increases. (Washington Post) [Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC.
- INCOME STATEMENT If
the United States was a corporation - USA Inc. - here's what the Income
Statement would look like:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
INC. - BALANCE SHEET If you think the Income Statement looks
bad, you may not want to look at the Balance Sheet. Consensus estimates for
unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion,
PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while
other estimates exceed $100 trillion (these amounts are insurmountable) …’ Moody's
puts U.S. ratings on review for downgrade Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). A
corporate quandary: Who to bribe? U.S. companies doing deals abroad have a
problem: One guy’s bribe is another’s cost of doing business. (Washington Post) [ Deals abroad? Come on! Wake up! One way or
another, domestic or foreign, in one form or another, bribes are being paid as
standard operating procedure, modus operandi, in, to, and by pervasively
corrupt, defacto bankrupt america and assigns. That’s just the way it is,
however unfortunate; and, in circumstances when you’d least expect it. . Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Fed
audit highlights possible conflicts Report finds that lending programs
generally have sound management, but also face difficult issues.(Washington
Post) [ Possible? Oh come now! If there’s one man, entity, Washington interest,
etc., that’s been and is concerned with conflicts it’s
‘no-recession-helicopter-ben-b.s.-bernake’ et als and anything that conflicts
with the huge wall street money / paper frauds that continue as we speak of
them. Come on! Does anybody buy any of the b***s*** from him or his ilk.
‘Conflicts are US’ is the prevailing entity / pressure group / reality in
Washington these days and with all the negative, diabolical consequences
therefrom, economically, financially, and otherwise. Geithner
says hard times to continue for many [ But not for his frauds on
wall street for whom everyone’s expected to keep sacrificing; and, ultimately
their negative churn-and-earn in real economic terms has to come from some
place, ie., you, yours, main street, etc., and has manifested in the QE’s,
etc.. Well, there you have it. The product of his, wobama et als’ policies;
viz., unhappy days are here again’ or, hard times for most are here to stay,
or, you get the picture, your pain their gain.
] A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was trading
at 11,357 levels at the beginning of the year 2000. More than a decade later
(as of beginning July 2011), the index is at 12582. Therefore, the index has
gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator immediately above
the current date on this page – and that’s just the government (inflation)
numbers … reality is much worse!} Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.] Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To
Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis.
Once again I see all the
“canaries in the mine,” which warned of the 2008 crisis. My just released
book, Financial Apocalypse , provides the clues and the road map, with charts, of
how my indicators successfully predicted the meltdown that occurred in
the fall of 2008. This book is a guide for detecting the next crisis whenever
it occurs. History repeats, or at minimum, it rhymes.
My work shows that “the
new recession has started.” The May 9 issue of the Wellington
Letter was headlined:
“Return of the Double-Dip.” At the time, economists were looking for a
great economy in the second half. Now they talk about a “soft patch.”
Over the past 33 years, we have called the start of every recession, often on
the exact month, or within one month, of the official start as determined one
year later by the official arbiter of recession, the National Bureau of
Economic Research (NBER).
How can we be in
recession now when the GDP still shows growth? Because of improper inflation
adjustments. “Real” GDP growth, the headline number, is nominal growth minus
the rate of inflation. However, inflation is far understated for political
reasons.
Currently, the GDP
deflator is 1.8%, which hardly reflects the true rise in prices. Therefore,
what is counted as “growth,” is actually price increases. Actual inflation,
according to free market economists who calculate inflation as it was done in
1980 before the politician re-engineered it, is now more than 11%. Using that
to adjust GDP for inflation, would show that the economy is now in a very sharp
contraction.
When the current
euphoric earnings forecasts of Wall Street finally reflect that via significant
“earnings downgrades,” the stock market will see a serious “adjustment” as
well.
On July 18, Goldman
Sachs (GS)
substantially lowered its economic growth forecast. Marketwatch.com had this
headline: Goldman Sachs slashes Economic Forecasts. The next step will be for them to substantially
reduce earnings forecasts for the S&P 500. Will the phase II be as bad as
the 2008 crisis? The last crisis was confined to the private sector, i.e.
financial institutions. The next one will be involve the threatened default of
entire countries. The last time, the central banks bailed out the financial
firms and even Warren Buffett bailed out several firms. Who is big enough to
bail out entire countries? Or will the term of “too big to fail” turn to “too
big to bail?”
Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon Back on December 12, 2007 I wrote a market
commentary that started as follows:
The equity markets have been very volatile this year, but also
range bound. A picture speaks a thousand words so all one needs to do is
view the chart below of the S&P 500 Index to understand just how volatile
and range bound things have been. Specifically, since February 20, 2007,
only nine and one half months or so ago, the S&P 500 Index has been down 5.86%, up 13.02%, down 9.43%, up
11.26%, down 10.09%,
and now up 7.73% – through
12/10/07 – so far in this
latest up leg! All this in ONLY nine and one half
months!
http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-1.jpg
History is repeating
itself so far in 2011, which has been fraught with ups and downs in both
international and domestic equity markets. This is due to many things,
including the considerable economic doubts and various countries debt
situations. This uncertainty has translated into market performance with direct
impacts on portfolio returns and more prominently in portfolio volatility. This
volatility is best seen in the chart below of the S&P 500 Index beginning
1/1/11.
http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-2.jpg
2010 ended positivity
and the momentum carried into the first two months of 2011 however the end of
February began a series of events that led market returns on a whipsaw ride of
ups and downs, resulting in the current universal mid-year views of market
uncertainty.
What news was associated
with this volatility? All the usual; crude oil prices, natural disasters,
corporate earnings, politics, economic forecast revisions for both developed
and emerging markets, the European debt situation, the United States debt
situation and more to name just a few.
One thing is for
certain; the current volatile, range bound market activity is difficult at best
to profit from. In this investing environment patience is the most
important attribute. I will be patient and will be careful until the
trends are preferable.
Our strategy at Hanlon
Investment Management is to attempt to minimize downside risk by exiting risk
asset classes, such as equities, during periods of uncertainty, getting
invested in more conservative asset classes, such as money markets and
short-term bonds, and re-entering into risky asset classes when we identify
them as attractive, when the trend is our friend and positive!
Having identified this
volatility, in June we made defensive, tactical investment decisions that
provide less exposure to these volatile, range bound markets and prepare us to
re-enter the markets when they possess improved risk characteristics.’
Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
A
center vs. right debt fight Obama talks to the middle while Boehner rallies
the right. (Washington Post) [ Oh come on! There’s no justifying woboma here as
some principled, reasonable partisan moving gently to the middle for the sake
of the deal. Rather, he’s the desperate, failed ‘pol’ who’s hearing footsteps
in 2012; who’s told one lie too many ; who’s made the wrong choice one time too
many. People are tired of his b*** s*** and excuses. He’s failed miserably and
yet had the easiest act in the world to follow in the persona of fellow failed
president war criminal dumbya bush whose failed policies up to the real start
of the election cycle he’s largely followed. He’s become the personification of
that age-old joke; viz., (punchline) ‘looks like s***, smells like s***, tastes
like s*** … ‘good thing we didn’t step in it!’ Well, guess what? With ‘wobama
the b’ (for b***s***), we ‘stepped in it’. He’s all that … bad! Milbank:
Dealing with the Default Caucus (Washington Post) [ I just love ‘wobama the b’
(for b***s***) apologist in chief, Mr. Milbank. He’s so egalitarian; surprising
all by his colloquial reference to whom one might otherwise consider to be his
political polar opposite, and even political nemesis in the persona of Ronald
Reagan, so tritely referred to by Mr. Milbank as ‘The Gipper’ in whom Mr.
Milbank posits the inspiration, ‘heart and soul’, of ‘the new democratic party’.
What total b***s***! How about everyone, including Mr. Milbank, realizing the
dire predicament facing the nation owing to a now familiar political strategy
of ‘kicking the can’ down the road a piece till the problem (insolvency of the
nation) has as now become insurmountable and hence, unsolvable. That’s where
we’re at now! . Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC.
- INCOME STATEMENT If
the United States was a corporation - USA Inc. - here's what the Income
Statement would look like:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
INC. - BALANCE SHEET If you think the Income Statement looks
bad, you may not want to look at the Balance Sheet. Consensus estimates for
unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion,
PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while
other estimates exceed $100 trillion (these amounts are insurmountable) …’ IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know it / feel it! Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell
Is
America The Next Greece? at Forbes Marc Schindler ‘After
many years of overeating (overspending) Greece is in the emergency room with a
major financial heart attack and America isn’t far behind.The doctors (IMF,
European finance ministers, the ECB, etc.) are running around trying to save
it. Open heart surgery (loans guaranteed by others) has averted the immediate
crisis, but Greece is just as overweight today as it was before the crisis.
Attempts to lose weight through exercise (austerity measures) cause serious
chest pains (riots). The doctors don’t want to admit it, but all signs point to
a heart transplant (default) as the only way to get Greece onto its feet
again.Greece isn’t the only one. It is a veritable epidemic. Ireland, Italy,
Portugal, Spain and a host of other countries are having chest pains. Iceland
is feeling better now with its freshly transplanted heart. The American home
owner is still in the hospital from his financial heart attack after gobbling
up vast quantities of real estate, and it has been many decades since Uncle Sam
last could see his toes. By most
accounts (e.g. here
or Bill
Gross‘ statements in a recent interview) total hidden government
liabilities add up to about $60-$100 trillion. That is on top of the $14
trillion of debt carried on the balance sheet. Adding up those liabilities, the
US owes at least five times GDP, which currently sits at about $15 trillion.
For comparison, Greece’s debt is about 1.5 times its GDP…’ Pity the Policymakers July 21st, 2011 by News
by Mohamed A. El-Erian (Project Syndicate) — ‘I don’t know about you,
but whenever I am in an airplane experiencing turbulence, I draw comfort from the
belief that the pilots sitting behind the cockpit’s closed door know what to
do. I would feel very differently if, through an open door, I observed pilots
who were frustrated at the poor responsiveness of the plane’s controls, arguing
about their next step, and getting no help whatsoever from the operator’s
manuals. So it is unsettling that policymakers in many Western economies today
resemble the second group of pilots. This perception reflects not only the
contradictory pronouncements and behavior of policymakers, but also the extent
to which economic outcomes have consistently fallen short of their
expectations.This perception is evident in Europe, the United States, and
Japan, where indicators of economic sentiment are deteriorating again, already-weak
recoveries are stalling, and over-stretched balance sheets are becoming even
more precarious.’
Top 3 Reasons Markets Were Down As Lawmakers Freeze Debt Talks
STOCKS
FORGET TO CRASH AS US GETS ONE DAY CLOSER TO DOOM: Here's What You Need To Know
Business Insider Joe
Weisenthal, On Monday July 25, 2011 ‘The market may crash at some point before
the debt ceiling fight is over. But, contra all the hype, today was not to be
that day.
But first, the
scoreboard:
Dow: -84.80
NASDAQ: -14.92
S&P 500: -7.05
And now, the top
stories:
Geithner
gave Fed official waiver on AIG holdings Reuters | Geithner waiver allowed William Dudley to hold
investments in firms getting emergency help.
Stocks
Lag Amid Debt Talk Worries; Gold Soars CNBC.com | Stocks pared some of their losses Monday, but
remained under pressure.
The
Federal Reserve Made $16 Trillion In Secret Loans To Their Bankster Friends
The American Dream |
These loans only went to the “too big to fail” banks and to foreign financial
institutions.
Greek
default almost certain, warns Moody’s Bloomberg | Greece’s long-term foreign currency debt was
downgraded to Ca, its second-lowest rating.
25
Reasons To Absolutely Despise Bankers And Their Minions Video Rebel’s Blog | ‘There is no
reason for a national debt. July 25, 2011
#1) Bankers, according
to the London Times, launder about 400 billion dollars a year or more in
illegal weapons sales. The next time you hear of an African war lord killing
families so he can kidnap young boys to become child soldiers and young girls
to become child sex slaves, please remember that this could not have happened
without the active assistance and cooperation of the bankers and the
politicians they own.
#2) Bankers told
American businessmen that entering World War I would make the Great War last
longer which would be good for the United States because it would bankrupt
England, France and Germany. Calvin Coolidge on Veterans Day in 1928 said
America had lost only 30,000 soldiers during the war but another 100,000 since
the war ended. Those men had died of their wounds after the Armistice was
signed. Everyone who died after 1915 in WW I died for bankers and Israel.
#3) Bankers have been
laundering drug money at least since the Opium wars. Currently bankers launder
a trillion dollars a year in drug money. That these illegal drugs are killing
millions of people and destroying cities one family and one neighborhood at a time
is of no concern to them.
#4) Gordon Duff of
Veterans Today tells us that the Global Hawk which is a pilotless drone version
of the U2 Spy plane is frequently used to carry 3,000 pound payloads of opium
paste out of Baluchistan Pakistan. This lucrative opium trade is one reason why
Afghanistan in America’s longest war. America has killed millions of innocent
civilians for nothing. America will one day have to pay that debt.
#5) On 9-10-2001 Donald
Rumsfeld told us that he could not trace 2.3 trillion dollars in Pentagon
spending. On 9-11-2001 four planes were electronically hijacked which together
with pre-planted explosives killed 3,000 Americans that day and many more since
in needless wars. 189 people died at the Pentagon. Most of these were auditors
trying to find the missing trillions the bankers and their friends stole.
American taxpayers are treated as indentured servants by the bankers. We are
not allowed to audit the books and demand the return of the stolen money.
Trillions more have gone missing since Rumsfeld promised on 911 to do a better
job tracking down that money.
#6) On March 22nd 2000
Susan Gaffney, the Housing and Urban Development Inspector General, testified
before the House Governmental Affairs Committee detailing the 59.6 billion dollars
that went missing from HUD during the previous two years. When asked if she did
anything to recover the missing money she said No. If we were equal to a
banker, we would have demanded audits. Years earlier Catherine Austin Fitts was
at HUD under Bush I. She found one block in San Diego that had 20 million
dollars in HUD guaranteed loans for buildings that never ever existed. All of
these loans defaulted and were paid for by taxpayers who do not have the right
to audit the books.
#7) Max Keiser and Stacy
Herbert are both American financial experts who now report on gross banking
fraud from their base in Paris. They have made several trips to Dubai and have
told us what multiple bankers told them. American contractors returning home
from Iraq and Afghanistan have deposited suitcases full of money in Dubai
banks. If we did not have a government owned and operated by the bankers, would
any of this be possible?
#8 ) Bankers financed
the Soviet Revolution which allowed their Communist minions to kill over 60,000,000
real human beings. They deliberately starved 10,000,000 to death in the
Ukraine.
#9) The UN estimates
that worldwide the slave trade traffics 250,000 mostly women and children a
year. Many young children are killed for snuff films by Russian Jewish mobs.
None of this could happen without the active participation and cooperation of
bankers and the governments they own in the United States, England, Israel,
Belgium, France, Portugal and elsewhere around the globe.
#10) Several years ago
documents revealed that the African slave trade was financed through front men
like Aaron Lopez . The African slave trade resulted in the deaths of millions
of human beings en route to North and South America. No estimate has been made
of the numbers killed by the wars over 3 and one half centuries engendered by
the desire to capture their fellow Africans to be sold to the bankers and their
minions. The slave trade would not have been possible without the active
participation and cooperation of the bankers and their governments. Did I
neglect to mention the other end of the African slave trade? Every school book
cites the trade of rum made in Newport Rhode Island by the 21 Jewish distillers
for the slaves of Africa. What they do leave out is the fact that those distillers
also sold rum to Indians who routinely massacred white settlers while in
drunken rages. Then the settlers would take revenge so all sides except for the
distillers and the bankers lost in this trade.
#11) Asia Times told us
that the big international banks launder 500 billion dollars a year in bribes
for politicians. This does not include campaign contributions and cash
payments. Remember the congressman in 2008 who said he had two types of calls
from his constituents about the proposed Banker Bailout. He said some said No
and the rest said Hell No. Yet the Bailout was passed by both Houses and
approved by both Presidential candidates. Now you know why the Congress, the
news media and the President do not listen to you and do not care what happens
to you and your friends and your family.
#12) Bernie Sanders
revealed the Federal Reserve Bank created 16 trillion dollars in loans over the
past couple of years. Many of these loans went overseas. But many of these
sweetheart loans made at negative real interest rates (i.e. below the rate of
inflation) were made to news organizations like NBC-MSNBC-Comcast. This company
is owned by a defense contractor and two Zionist business partners. MSNBC,
which is supposedly the most liberal news source in America, has been firing
and disciplining liberal anti-war newscasters and hosts. This would be
surprising to the casual observer if he or she was not aware of the loans made
by the privately owned Federal Reserve bank.
#13) Back to that 16
trillion dollar money bomb dropped on the people of the world by the Federal
Reserve. Bankers were bundling up home mortgages into bonds and used MERS
(Mortgage Electronic Registration System) to register their deeds. The bankers
allowed their minions to sell one home mortgage into five different bonds in
effect selling five different people a legal claim to your house. These bonds
were worthless. The ratings agencies Standard and Poor, Fitch and Moodys gave
these bonds triple A ratings in exchange for hefty fees. The banks did not do
due diligence before selling them to banks overseas. They knew the loans were
bad because they bought insurance (Credit Default Swaps) to cash in on the
inevitable losses. More than 6 trillion dollars was paid by the FED to overseas
banks. Why? Because they wanted to keep New York bankers out of jail. You see
those bonds had to go into default and the bankers knew that. A bondholder
whose underlying mortgage went bad would not ask for the return of his money.
But if the mortgages were good, five different companies would come to collect
from one homeowner and the courts might actually have to send bankers to jail.
All the inflation you will see over the next few years will be due to the
active participation of the Federal Reserve in financial fraud. Obviously those
bankers in New York owe Zero Mostel and the writers of the movie script for the
Producers a sizable bonus.
#14) Do you remember the
Presidential election of 2000? I knew Bush would become President years before.
But I remember telling my friends that it was obvious to me that the Federal
Reserve Board was spiking the election in Bush’s favor so we could go to war.
My reasoning was thus: the FED was raising interest rates and tightening credit
so the stock market would go down before election day. If the market declines
in an election year, the incumbents lose seats in both Houses of Congress and a
couple million votes in the Presidential race. Alan Greenspan made George W
Bush President of the United States allowing Bush to invade Iraq and
Afghanistan for Israel. Can I prove Greenspan knew in advance 911 would happen?
One of the Rockefellers told Aaron Russo 911 was coming years in advance. What
Greenspan knew about 911 and when he knew it, we will not know until we have
war crimes trials.
#15) Let’s revisit the
North American Free Trade Act (NAFTA) of 1994. Since that date, America has
lost 50,000 manufacturing plants. America has a little over 3,000 counties with
an average population of 100,000. If you divide 4,000 into 50,000, you get an
average loss of 13 to 14 manufacturing plants closing and going overseas per
county. This has destroyed local tax bases, government revenues and jobs
resulting in millions of unemployed and millions of foreclosed homes. Instead
of testifying before the Congress and telling the nation what would happen
Greenspan covered it up by printing lots of money. There was no price
inflation, because traditionally a manufacturing based economy has to bid
workers and raw materials away from competitors. Not so since NAFTA. We had no
manufacturing base left to create price inflation. All the monetary inflation
went into the stock market. Greenspan crashed the stock markets to end the dot
com bubble and elect the warmonger Bush. After the dot com bubble went pop,
Greenspan ignited the Housing Bubble. Why do we have a Bubble economy? The
Bankers and their minions sent all the jobs overseas so the only way to make
money in America today is through the Subsidized Bubble Machine known as the
Federal Reserve and the Federal government. Citizens are required to buy
insurance under penalty of law. But the insurance companies who wrote the
Obamacare bill are not required to treat you when you get sick. This is a
subsidized medical system which when the Bubble pops will send wages down, down
down for nurses, doctors, pharmacists, EMTs and others in the health care
field. Local schools and police were in the subsidized Bubble economy but the
implosion of the tax base is forcing layoffs in many cities and states.
Providence Rhode Island gave pink slips to every teacher. Ashtabula county Ohio
(population 102,000) laid off all of the Sheriff deputies save those working in
foreclosures for the courts. This means they have one deputy per shift for the
entire county. A local judge told the residents to buy a gun. We have reached
the point where the only Bubbles left are war and other subsidized government
endeavors. The next sucking sound you hear will be civil service and healthcare
jobs evaporating. This will send the unemployment rate above 30% from its current
22%. By definition and by law, Bubbles cannot give the illusion of productive
employment and real wealth without the participation and cooperation of the
bankers and the politicians they own.
#16) President John Fitzgerald Kennedy was killed on November 22nd 1963. He had
issued Executive Order 11110 on June 4, 1963 which returned the power of the
Sovereign to issue currency to the Treasury from the FED. JFK was killed and
that Executive Order was never rescinded but his US Treasury Notes which were non-interest
bearing were recalled. I keep making the point on public and in print everyone
else fears to whisper in secret that Kennedy was murdered on the anniversary of
the day the bankers first met in 1910 to draft the legislation their hired
politicians would pass on December 23rd, 1913 during Christmas break. My point
is that the bankers were giving us a message by killing JFK on the anniversary
of their secret meeting. We are peasants and they were born to rule over us.
They have the right to kill your President and you do not have the right to try
them for their crimes.
#17) Martin Luther King
was killed on April 4th, 1968. He was killed on the first anniversary of his
famous anti-war speech at Riverside church in New York City. King planned to
have a Summer of Ant- War protest in Washington D.C. He was going to use
passive resistance and civil disobedience to stop the Vietnam War. The Bankers,
the Zionists and the Imperialists could not allow King to win so they killed
him. The message to the American people was that you are peasants, we are the
feudal lords and you cannot refuse to die in our wars. You do not have the
right to say No. Robert Fitzgerald Kennedy and his nephew JFK Jr. were also
killed by the same people though for different reasons.
#18) Dr Alan Sabrosky is
a former Director of Studies at the US Army War College. Dr Steve Pieczenik was
deputy Secretary of State for three Presidents. They are both of Jewish
descent. They both say 911 was an inside job and that Israel did it with the help
of traitors inside the US government. Sabrosky has been telling his former
colleagues at the Army War College that Israel did 911. Do you for one minute
believe that Israel could have done 911 and gotten away with it without the
active participation and cooperation of Jewish Americans on Wall Street and in
the government and news media?
#19) When you go into a
bank for a $10,000 loan, the bank is not lending you Mrs Jonses’ life savings.
What the bank is doing is creating a $10,000 deposit in your checking account.
There a few points of interest in this transaction. The banker only created
enough money for you to pay the principal and not the interest on the loan. The
interest on the debt can only be paid if the banker loans more money out and
increases the total money supply so there is money to make the payments. This
is called monetary inflation and usually leads to price inflation. Another
point of interest is that the banker gets all of the benefit of making the loan
and you, even if you are not part of this transaction, pay for it. How so, you
ask? Because your purchasing power was diminished every time the banker made a
loan. Years ago I remember reading a study of the loss of savings due to banker
induced inflation. It was twice as great as the value of all Social Security
payments received by the elderly. Bot a good deal for anyone involved except
bankers who now want to cancel Social Security benefits but not the taxes you
pay in so we can afford to continue to pay the Banker Bailouts.
#20) The federal
government under Presidents Kennedy and Lincoln issued non-interest bearing
currencies. They saw no reason why the Treasury should not just issue a
currency. They did not want to allow the bankers to create money (i.e. Federal
Reserve Notes) they would trade for Treasury bonds which would require the
taxpayers to pay interest on ever increasing national debts. Eventually, we
would create what I have called a Debt Bomb of Unpayable Debts. The burden of
those interest payments becomes unbearable and we all go in to bankruptcy at
which point the bankers buy everything from us for pennies on the dollar in
foreclosure sales with money they stole from us. Then we and our descendants
are permanently reduced to the status of a landless serf. There is no reason
for a national debt other than to transfer wealth from us to the bankers.
#21) Since there is no
reason for a national debt, there is no reason for Austerity Cuts so wages and
benefits to be matched by taxes on the working and middle classes. The only reason
for the European banks to bailout Greece is so that the banks can keep the
Ponzi scheme going long enough to trade their Greek debts for euro bonds which
they can sell and use to buy gold, silver and oil. All of our sacrifices are
for nothing and only increase their ill gotten gain.
#22) Harry Markopolos
took in more than 300 pages of documented evidence to the SEC to prove to them
that Bernie Madoff was stealing tens of billions of dollars from his mostly
Jewish clients. The case was not hard to prove. Catherine Austin Fitts said the
SEC had to do was to match Madoff’s bank transactions up with his brokerage
accounts. So if he was moving lots of money around in his bank accounts but not
buying stocks, then he was an obvious fraud who needed to be arrested in time
for the Evening News. This is not the end of the story. Markopolos told us that
a much greater fraud was waiting in the wings called Credit Default Swaps (CDS)
which he valued at a potential loss of 600 trillion dollars. This is ten times
the total output of the world’s goods and services. Yet to date neither the
House nor the Senate nor the Obama nor Bush Departments of Justice and SEC have
seen fit to ask Mr Markopolos to come and give evidence. Why? Because all
politicians are frightened little cowards.
#23) CDS were invented
by a Jewish girl from England named Blythe Masters. She is the VP for Global
Commodities at JP Morgan. Her boss is Jamie Dimon who is also Jewish. In 1999
Brooksley Born was Chairwoman of the CFTC and attempted to regulate CDS which
are a hybrid between insurance and a derivative which is a bet on the future
value of a bond or a commodity. Four Jewish men (Robert Rubin, Larry Summers,
Alan Greenspan and Arthur Levitt) told her that she was not allowed to regulate
CDS. That would spoil their fun. If you remember, I previously mentioned that
the purchase of a CDS enabled the banks to sell bonds they knew to be
worthless. It is illegal to do this. The purchase of a CDS gave the ratings
agencies cover to give AAA ratings to zero value, fraudulently induced, no
recourse bonds. Now remember the bailout of AIG. The banks knew AIG could not
cover the losses they knowingly passed on when they bought CDS, because they
both created the moral hazard of less than junk grade bonds and insured against
it. They then went to their kept whores in the Congress and had them pass
legislation that Bush, Obama and McCain approved of to cover AIG’s losses. It
must be so much fun to be a banker, to steal a nation’s wealth, to start wars,
to kill millions of people around the world and to make up assassination lists
of honest politicians.
#24) Jim Willie has a
PhD in Statistics. He is so despised by the bankers that he, Bob Chapman and a
few others can no longer safely live in the United States. He told Max Keiser
that in the 1990s the US Treasury Department sold 2.2 trillion dollars more in
Treasury bonds than were needed to fund the federal deficit. Remember that this
was a deficit already swollen by missing trillions from HUD, Defense and other agencies.
Did I tell you that Indira Singh who worked as a high level computer consultant
for the Big Three New York banks until 911 said the bankers were even stealing
from Social Security. They would enter say a million non-existent recipients
into the computers, give them monthly checks. Those frauds were not part of the
2.2 trillion the bankers put directly into their pockets from the sale of
bonds. Nor does it count those gold bars at Fort Knox which were sold and
replaced with gold plated tungsten. Nor does it include the gold bars the
bankers leased from the government and sols as if the gold were theirs.
#25) Do you remember the
newscasters during the recent Egyptian uprising saying that they lived on two
dollars day in Egypt? The reason for their poverty was that the bankers used
the IMF and World Bank to stop the Egyptians from developing agriculture so
they could raise their standard of living and they could say No to bankers. The
banks have forced Africans to accept Genetically Modified Organisms knowing
that they emit pesticides into your blood and also increase your risk of cancer
and sterility. They also force poor nations like Bolivia to privatize their
water resources. When the bankers did this in Africa, people died of cholera.
The bankers grind every last dollar out of the poor before they kill them. They
are taking all those trillions of dollars from the Bailouts and buying
commodities and sending the price of food and energy higher. In fact prices in
a year will be so high that people who used to have jobs will no longer have
enough to pay their bills and buy food. Those already poor will simply just fie
from starvation, or in riots and revolutions. Maybe the bankers will be kind to
the poor and release a plague that will kill a billion or two billion people.
Finally, I must tell you
why I despise bankers. It might be one of the reasons why all decent and
intelligent people everywhere should hate them. They serve no useful purpose.
They have no redeeming qualities. They steal our money. They lie to us. They
impoverish nations They ridicule our traditions and our way of life. They
casually destroy countries. They destroyed my country America. America was on
the road to ruin before I was born. The bankers are not real human beings. No
real man or woman would look for honest, intelligent men and women who are well
respected and then run to a phone to have them put on a Death List. When the
dollar collapses, the bankers will go down their lists of honest and
intelligent and courageous men and women killing them until we say No More.
Have I convinced you
that bankers are pond scum? As the gladiators used to say in the Roman
Coliseum, we are who about to die salute you. Get your affairs in order. If
there is anything you wanted to do, do it now. My earlier prediction that
Benyamin Netanyahu’s plan to launch World War III in September by attacking
Iran in order to prevent a UN vote on Palestinian statehood might be wrong. But
my intuition still says No war now. Of course I am sticking by my earlier prediction
that silver will skyrocket in price soon. I was writing a series of articles
entitled Go Beyond Left and Right to an Anti-Banker Party. I was diverted
though this essay should have been entitled Part III. I have decided to call
the next entry Part IV.’
National / World
Libya
says NATO killed 7 At Hospital, bombed food stocks AFP | Gaddafi’s regime accused NATO
of killing at least seven people in a raid on a medical clinic and destroying
stocks of food on Monday in the western Libyan town of Zliten.
No
permanent U.S. bases in Afghanistan: U.S. ambassador Reuters | Washington is negotiating
with the Afghan government on a deal to define the long-term American role in
Afghanistan beyond the end of 2014.
‘Grand
bargain’ talks fail as Boehner walks out House Speaker John Boehner’s
abandoning of talks with the White House throws into chaos efforts to raise the
legal limit on government borrowing with just 11 days before the U.S. Treasury
is due to run out of cash. (Washington Post) [ Geeh! And we were all just
getting excited / aroused having been told wobama’s got a Boehner … Not, they
say … but dem PIIGS got problems too. Europe’s
debt crisis threatens Italy (Washington Post) [ Yeah, dem’ darn PIIGS. Reminds me of that joke (I won’t repeat it
here except the punch line): ‘That’s black bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop …
py. Obama,
Boehner push for ambitious debt plan Savings of $3 trillion over the next
decade would come from spending cuts and changes to entitlement programs, but
no immediate tax increases. (Washington Post) [Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC.
- INCOME STATEMENT If
the United States was a corporation - USA Inc. - here's what the Income
Statement would look like:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
INC. - BALANCE SHEET If you think the Income Statement looks
bad, you may not want to look at the Balance Sheet. Consensus estimates for
unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion,
PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while
other estimates exceed $100 trillion (these amounts are insurmountable) …’ Moody's
puts U.S. ratings on review for downgrade Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.).
A
corporate quandary: Who to bribe? U.S. companies doing deals abroad have a
problem: One guy’s bribe is another’s cost of doing business. (Washington Post) [ Deals abroad? Come on! Wake up! One way or
another, domestic or foreign, in one form or another, bribes are being paid as
standard operating procedure, modus operandi, in, to, and by pervasively
corrupt, defacto bankrupt america and assigns. That’s just the way it is,
however unfortunate; and, in circumstances when you’d least expect it. . Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen america.
Indeed, the scenario typifies that national drain / sinkhole new york (new york
/ new jersey metro) where, for example, FBI informants were routinely exposed
by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and
were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this
was documented with authority in the book ‘Goombata: The Improbable Rise and
Fall of John Gotti and His Gang’ Cummings /
Volkman Fed
audit highlights possible conflicts Report finds that lending programs
generally have sound management, but also face difficult issues.(Washington
Post) [ Possible? Oh come now! If there’s one man, entity, Washington interest,
etc., that’s been and is concerned with conflicts it’s
‘no-recession-helicopter-ben-b.s.-bernake’ et als and anything that conflicts
with the huge wall street money / paper frauds that continue as we speak of
them. Come on! Does anybody buy any of the b***s*** from him or his ilk.
‘Conflicts are US’ is the prevailing entity / pressure group / reality in
Washington these days and with all the negative, diabolical consequences
therefrom, economically, financially, and otherwise. Geithner
says hard times to continue for many [ But not for his frauds on
wall street for whom everyone’s expected to keep sacrificing; and, ultimately
their negative churn-and-earn in real economic terms has to come from some
place, ie., you, yours, main street, etc., and has manifested in the QE’s,
etc.. Well, there you have it. The product of his, wobama et als’ policies;
viz., unhappy days are here again’ or, hard times for most are here to stay,
or, you get the picture, your pain their gain.
] A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator immediately above
the current date on this page – and that’s just the government (inflation)
numbers … reality is much worse!} Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.] Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To Meltdown, predicting
the global crisis that occurred the following year. I now see a similar
confluence of events that warns of phase II of the global crisis.
Once again I see all the
“canaries in the mine,” which warned of the 2008 crisis. My just released book,
Financial
Apocalypse , provides the clues and the road map, with charts, of
how my indicators successfully predicted the meltdown that occurred in
the fall of 2008. This book is a guide for detecting the next crisis whenever
it occurs. History repeats, or at minimum, it rhymes.
My work shows that “the
new recession has started.” The May 9 issue of the Wellington
Letter was headlined:
“Return of the Double-Dip.” At the time, economists were looking for a
great economy in the second half. Now they talk about a “soft patch.”
Over the past 33 years, we have called the start of every recession, often on
the exact month, or within one month, of the official start as determined one
year later by the official arbiter of recession, the National Bureau of Economic
Research (NBER).
How can we be in
recession now when the GDP still shows growth? Because of improper inflation
adjustments. “Real” GDP growth, the headline number, is nominal growth minus
the rate of inflation. However, inflation is far understated for political
reasons.
Currently, the GDP
deflator is 1.8%, which hardly reflects the true rise in prices. Therefore,
what is counted as “growth,” is actually price increases. Actual inflation,
according to free market economists who calculate inflation as it was done in
1980 before the politician re-engineered it, is now more than 11%. Using that
to adjust GDP for inflation, would show that the economy is now in a very sharp
contraction.
When the current
euphoric earnings forecasts of Wall Street finally reflect that via significant
“earnings downgrades,” the stock market will see a serious “adjustment” as
well.
On July 18, Goldman
Sachs (GS)
substantially lowered its economic growth forecast. Marketwatch.com had this
headline: Goldman Sachs slashes Economic Forecasts. The next step will be for them to substantially
reduce earnings forecasts for the S&P 500. Will the phase II be as bad as the
2008 crisis? The last crisis was confined to the private sector, i.e. financial
institutions. The next one will be involve the threatened default of entire
countries. The last time, the central banks bailed out the financial firms and
even Warren Buffett bailed out several firms. Who is big enough to bail out
entire countries? Or will the term of “too big to fail” turn to “too big to
bail?”
Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon Back on December 12, 2007 I wrote a market
commentary that started as follows:
The equity markets have been very volatile this year, but also
range bound. A picture speaks a thousand words so all one needs to do is
view the chart below of the S&P 500 Index to understand just how volatile
and range bound things have been. Specifically, since February 20, 2007,
only nine and one half months or so ago, the S&P 500 Index has been down 5.86%, up 13.02%, down 9.43%, up
11.26%, down 10.09%,
and now up 7.73% – through
12/10/07 – so far in this
latest up leg! All this in ONLY nine and one half
months!
http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-1.jpg
History is repeating
itself so far in 2011, which has been fraught with ups and downs in both
international and domestic equity markets. This is due to many things,
including the considerable economic doubts and various countries debt
situations. This uncertainty has translated into market performance with direct
impacts on portfolio returns and more prominently in portfolio volatility. This
volatility is best seen in the chart below of the S&P 500 Index beginning
1/1/11.
http://blogs-images.forbes.com/advisor/files/2011/07/market-commentary-2.jpg
2010 ended positivity
and the momentum carried into the first two months of 2011 however the end of
February began a series of events that led market returns on a whipsaw ride of
ups and downs, resulting in the current universal mid-year views of market
uncertainty.
What news was associated
with this volatility? All the usual; crude oil prices, natural disasters,
corporate earnings, politics, economic forecast revisions for both developed
and emerging markets, the European debt situation, the United States debt
situation and more to name just a few.
One thing is for
certain; the current volatile, range bound market activity is difficult at best
to profit from. In this investing environment patience is the most
important attribute. I will be patient and will be careful until the
trends are preferable.
Our strategy at Hanlon
Investment Management is to attempt to minimize downside risk by exiting risk
asset classes, such as equities, during periods of uncertainty, getting
invested in more conservative asset classes, such as money markets and
short-term bonds, and re-entering into risky asset classes when we identify
them as attractive, when the trend is our friend and positive!
Having identified this
volatility, in June we made defensive, tactical investment decisions that
provide less exposure to these volatile, range bound markets and prepare us to
re-enter the markets when they possess improved risk characteristics.’
Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt america also spends more on military
than all the nations of the world combined... fed employees / contractors, cia,
all 3 branches of u.s. gov’t, etc., are included in this evolved american trait
of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Greek
contagion quarantined New crisis measures may finally keep Greece’s
problems from spreading across the continent. (Washington Post) [ Riiiiight!
Quarantined … as in confined to that limited spot … now called the entire
planet earth! ‘Spreading across? How ‘bout now totally intertwined with, and
then some … of the other 6 continents. Come on! Wake up! Moreover, the big
fear, viz., default, has finally been realized; yet, despite all the prior
handwringing over just that, we’re now all told to buy into the ‘good money
after bad’ formulae that served the frauds on wall street, only, so fabulously
in the last and continuing financial / economic debacle / crisis. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Initial
unemployment claims
rise to 418000 - Jul.
21, 2011 which bad news sparked wall street rally … what total
b***s***. No budget deal, celebrated Greek Plan – DEFAULT! … sounds like a
plan!…, backward looking earnings results … riiiiight! Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean Hanlon Tech up today? Absolute confirmation of dire
prospects worldwide since american tech is horrendous. Yet, sizzling ‘child’s
play’ is the order of the day and credit still must be given to those [ie., Steve
Jobs-I’m truly glad he saved Apple, my first computer (apple IIc for word
processing / data based records/forms/templates/data which I interfaced with an
electric typewriter for letter quality)] who could (as he) identify such
novelties as the biggest over-priced / over-valued sensations since the hoola
hoop (which were pretty cheap and with some minor health benefits to boot).Take
this run-up as a gift based on fraudulent wall street b***s*** alone and take
this opportunity to sell / take profits / ‘sell today if you missed in may and
then go away’! Nothing has been solved; maybe forestalled. This is the
umpteenth rally based upon the ‘solution’. The ubiquitous problems make the
notion of a ‘Gordian Knot’ a mere tinker toy in comparison. Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC.
- INCOME STATEMENT If
the United States was a corporation - USA Inc. - here's what the Income
Statement would look like:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
INC. - BALANCE SHEET If you think the Income Statement looks
bad, you may not want to look at the Balance Sheet. Consensus estimates for unfunded
obligations vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill
Gross estimates the unreported debt to be $75 trillion, while other estimates
exceed $100 trillion (these amounts are insurmountable) …’ Huge suckers’ rally to
keep the suckers suckered in this market based upon backward looking data
discounted multiple times to the upside (including the apple numbers as
recently as last week on ‘leaked’ expectations of ‘better than expected’,
etc.), taxpayer funded QE results, and b***s*** alone. This is an especially
great opportunity to sell / take profits since there’s much, much worse to
come! IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know it / feel it! Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms. Check out
this inflation calculator: http://www.albertpeia.com/inflationcalculator.htm ] Is
America The Next Greece? at Forbes Marc Schindler ‘After
many years of overeating (overspending) Greece is in the emergency room with a
major financial heart attack and America isn’t far behind.The doctors (IMF,
European finance ministers, the ECB, etc.) are running around trying to save
it. Open heart surgery (loans guaranteed by others) has averted the immediate
crisis, but Greece is just as overweight today as it was before the crisis.
Attempts to lose weight through exercise (austerity measures) cause serious
chest pains (riots). The doctors don’t want to admit it, but all signs point to
a heart transplant (default) as the only way to get Greece onto its feet
again.Greece isn’t the only one. It is a veritable epidemic. Ireland, Italy,
Portugal, Spain and a host of other countries are having chest pains. Iceland
is feeling better now with its freshly transplanted heart. The American home
owner is still in the hospital from his financial heart attack after gobbling
up vast quantities of real estate, and it has been many decades since Uncle Sam
last could see his toes. By most
accounts (e.g. here
or Bill Gross‘
statements in a recent interview) total hidden government liabilities add up to
about $60-$100 trillion. That is on top of the $14 trillion of debt carried on
the balance sheet. Adding up those liabilities, the US owes at least five times
GDP, which currently sits at about $15 trillion. For comparison, Greece’s debt
is about 1.5 times its GDP…’
Milbank:
Dealing with the Default Caucus (Washington Post) [ I just love ‘wobama the b’
(for b***s***) apologist in chief, Mr. Milbank. He’s so egalitarian; surprising
all by his colloquial reference to whom one might otherwise consider to be his
political polar opposite, and even political nemesis in the persona of Ronald
Reagan, so tritely referred to by Mr. Milbank as ‘The Gipper’ in whom Mr.
Milbank posits the inspiration, ‘heart and soul’, of ‘the new democratic
party’. What total b***s***! How about everyone, including Mr. Milbank,
realizing the dire predicament facing the nation owing to a now familiar
political strategy of ‘kicking the can’ down the road a piece till the problem
(insolvency of the nation) has as now become insurmountable and hence,
unsolvable. That’s where we’re at now! . Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been so for a long
time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC.
- INCOME STATEMENT If
the United States was a corporation - USA Inc. - here's what the Income
Statement would look like:Total federal spending in 2010 amounted to $3.456
trillion. Total receipts added up to $2.162 trillion. USA Inc.'s 2010 deficit
was $1.294 trillion.The 2011 federal budget is $3.7 trillion with a projected
deficit of$1.6 trillion. …USA
INC. - BALANCE SHEET If you think the Income Statement looks
bad, you may not want to look at the Balance Sheet. Consensus estimates for
unfunded obligations vary. Mary Meeker pegs the shortfall at $31 trillion,
PIMCO's Bill Gross estimates the unreported debt to be $75 trillion, while
other estimates exceed $100 trillion (these amounts are insurmountable) …’ IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know it / feel it! Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell
Is
America The Next Greece? at Forbes Marc Schindler ‘After
many years of overeating (overspending) Greece is in the emergency room with a
major financial heart attack and America isn’t far behind.The doctors (IMF,
European finance ministers, the ECB, etc.) are running around trying to save
it. Open heart surgery (loans guaranteed by others) has averted the immediate
crisis, but Greece is just as overweight today as it was before the crisis.
Attempts to lose weight through exercise (austerity measures) cause serious
chest pains (riots). The doctors don’t want to admit it, but all signs point to
a heart transplant (default) as the only way to get Greece onto its feet
again.Greece isn’t the only one. It is a veritable epidemic. Ireland, Italy, Portugal,
Spain and a host of other countries are having chest pains. Iceland is feeling
better now with its freshly transplanted heart. The American home owner is
still in the hospital from his financial heart attack after gobbling up vast
quantities of real estate, and it has been many decades since Uncle Sam last
could see his toes. By most accounts
(e.g. here
or Bill
Gross‘ statements in a recent interview) total hidden government
liabilities add up to about $60-$100 trillion. That is on top of the $14
trillion of debt carried on the balance sheet. Adding up those liabilities, the
US owes at least five times GDP, which currently sits at about $15 trillion.
For comparison, Greece’s debt is about 1.5 times its GDP…’ Pity the Policymakers July 21st, 2011 by News
by Mohamed A. El-Erian (Project Syndicate) — ‘I don’t know about you,
but whenever I am in an airplane experiencing turbulence, I draw comfort from
the belief that the pilots sitting behind the cockpit’s closed door know what
to do. I would feel very differently if, through an open door, I observed
pilots who were frustrated at the poor responsiveness of the plane’s controls,
arguing about their next step, and getting no help whatsoever from the
operator’s manuals. So it is unsettling that policymakers in many Western
economies today resemble the second group of pilots. This perception reflects
not only the contradictory pronouncements and behavior of policymakers, but
also the extent to which economic outcomes have consistently fallen short of
their expectations.This perception is evident in Europe, the United States, and
Japan, where indicators of economic sentiment are deteriorating again,
already-weak recoveries are stalling, and over-stretched balance sheets are
becoming even more precarious.’
I must say I’m a little disappointed in Mr. Petruno.
Acts? As in what they do in Hollywood? Maybe. But let’s not be naïve. [
Parenthetically, it should be noted that the LA Times is a dying, failed
newspaper / publisher. ]
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
Why Apple,
Google And EBay Will Slash And Burn Investors
200-Day
MA Sell Signals - Should You Ignore these Death Crosses?
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
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# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
Top 3
Reasons Markets Were As Mixed Up as U.S. Budget Negotitions Wall St. Cheat Sheet July 22, 2011, Markets closed mixed on Wall Street
today: Dow -0.35% , S&P +0.09% , Nasdaq +0.86% , Oil +0.54% , Gold +0.95 %.
On the commodities
front, Oil climbed to $99.67. Precious metals also gained, with Gold up to
$1,602.10 an ounce while Silver rose 3.06% to $40.14 an ounce…
Today’s markets were
mixed because:
1) No budget deal .
Democrats and Republicans, the House and the Senate, tax hikes vs. spending
cuts…the debate continues as we head into another weekend with no debt deal.
Yesterday the New York Times reported that we were close, but the White House
quickly denied it. There are three main proposals in Congress: the Senate’s “Gang of
Six” plan, which contains both large spending cuts and significant changes to
the tax code; the Obama-Boehner plan, a bit more conservative but still not
being embraced by the right; and the House’s “Cut, Cap and Balance” act that’s
already been rejected by the Senate today, the majority being angered by the
plan’s complete disregard of any tax reform whatsoever. It’s a game of chicken:
Republicans aren’t ceding any ground, expecting the Democrats to flinch first
as they barrel toward the August 2 deadline to raise the debt ceiling.
2) Greek bailout plan.
Yesterday, European leaders held yet another summit to discuss plans for
Greece’s bailout. But this time they came up with a plan of action. While the
plan would allow for Greece to technically go into default, it seemed the best option
for preventing the spread of Greece’s debt problems and for helping the
Greece’s economy to recover. At issue for some time now has been the level of
private sector involvement in the bailout. It was ultimately decided that as
much as 50 billion euros would be raised by private sector buyers of Greek
bonds. The Greece
news boosted global markets and the euro, but wasn’t enough to keep
American markets up as we continue to face our own debt crisis.
3) Tech sector. The
tech-heavy Nasdaq was the only major index to show significant gains today,
with chip makers Sandisk (SDSK) and Advanced Micro Devices leading
the semiconductor sector after reporting better-than-expected
second-quarter earnings and raising their full-year revenue forecasts. Sandisk
closed up 9.62% and AMD closed up 19.23%. Other tech firms rode the wave,
including Micron , Microchip Technology , and Seagate , all gaining over 3%…’
DOW
FALLS, NASDAQ UP AMID THREAT OF IMPENDING DOOM: Here's What You Need To Know
Business Insider Joe Weisenthal, July 22,
2011, A totally unbelievable end of the week filled with euphoria,
tragedy, and a sense of impending doom.
But first, the
scoreboard:
Dow: -46.47
NASDAQ: +23.42
S&P 500: +0.80
And now, the top
stories:
Indebted EU
states can model Iceland Press TV
| Debt-ridden EU countries need to pattern themselves after Iceland.
Banks
Pay Back TARP Funds by… Borrowing From Treasury Yahoo Finance | Banks repaid cash
owed by borrowing from a Treasury-run program.
Oil Prices Rise Reuters | Oil rose for a third
straight session Thursday.
500
Million Debt-Serfs: The European Union Is a Neo-Feudal Kleptocracy Charles Hugh Smith | All Europeans
now serve them as debt-serfs in one way or another.
Austerity
and Deficit Hawks Say, “Let Them Eat Cake,” The People Will Say, “Off With
Their Heads” AmpedStatus Report |
The vultures are circling above the debt ceiling, along with the austerity and
deficit hawks, ready to pounce on what little remains.
The Fatal
Flaw In Europe’s Second “Bazooka” Bailout: 82 Million Soon To Be Very Angry
Germans, Or How Euro Bailout #2 Could Cost Up To 56% Of German GDP Tyler Durden | A funny thing happened
in Euro spreads today.
A Thousand
Pictures Is Worth One Word BIG GOLD
| In spite of constant headlines about debts and deficits, most
Americans don’t really believe the U.S. dollar will collapse.
Regulators
shut 2 banks in Florida, 1 in Colorado (AP)
Fed
audit highlights possible conflicts Report finds that lending programs
generally have sound management, but also face difficult issues.(Washington
Post) [ Possible? Oh come now! If there’s one man, entity, Washington interest,
etc., that’s been and is concerned with conflicts it’s
‘no-recession-helicopter-ben-b.s.-bernake’ et als and anything that conflicts
with the huge wall street money / paper frauds that continue as we speak of
them. Come on! Does anybody buy any of the b***s*** from him or his ilk.
‘Conflicts are US’ is the prevailing entity / pressure group / reality in
Washington these days and with all the negative, diabolical consequences
therefrom, economically, financially, and otherwise. Geithner
says hard times to continue for many [ But not for his frauds on
wall street for whom everyone’s expected to keep sacrificing; and, ultimately
their negative churn-and-earn in real economic terms has to come from some
place, ie., you, yours, main street, etc., and has manifested in the QE’s,
etc.. Well, there you have it. The product of his, wobama et als’ policies;
viz., unhappy days are here again’ or, hard times for most are here to stay,
or, you get the picture, your pain their gain.
] A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator immediately above
the current date on this page – and that’s just the government (inflation)
numbers … reality is much worse!} Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.] Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To
Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis.
Once again I see all the
“canaries in the mine,” which warned of the 2008 crisis. My just released
book, Financial Apocalypse , provides the clues and the road map, with charts, of
how my indicators successfully predicted the meltdown that occurred in
the fall of 2008. This book is a guide for detecting the next crisis whenever
it occurs. History repeats, or at minimum, it rhymes.
My work shows that “the
new recession has started.” The May 9 issue of the Wellington
Letter was headlined:
“Return of the Double-Dip.” At the time, economists were looking for a
great economy in the second half. Now they talk about a “soft patch.”
Over the past 33 years, we have called the start of every recession, often on
the exact month, or within one month, of the official start as determined one
year later by the official arbiter of recession, the National Bureau of
Economic Research (NBER).
How can we be in
recession now when the GDP still shows growth? Because of improper inflation
adjustments. “Real” GDP growth, the headline number, is nominal growth minus
the rate of inflation. However, inflation is far understated for political
reasons.
Currently, the GDP
deflator is 1.8%, which hardly reflects the true rise in prices. Therefore,
what is counted as “growth,” is actually price increases. Actual inflation,
according to free market economists who calculate inflation as it was done in
1980 before the politician re-engineered it, is now more than 11%. Using that
to adjust GDP for inflation, would show that the economy is now in a very sharp
contraction.
When the current
euphoric earnings forecasts of Wall Street finally reflect that via significant
“earnings downgrades,” the stock market will see a serious “adjustment” as
well.
On July 18, Goldman
Sachs (GS)
substantially lowered its economic growth forecast. Marketwatch.com had this
headline: Goldman Sachs slashes Economic Forecasts. The next step will be for them to substantially
reduce earnings forecasts for the S&P 500.
Will the phase II be as
bad as the 2008 crisis? The last crisis was confined to the private sector,
i.e. financial institutions. The next one will be involve the threatened
default of entire countries. The last time, the central banks bailed out the
financial firms and even Warren Buffett bailed out several firms. Who is big
enough to bail out entire countries? Or will the term of “too big to fail” turn
to “too big to bail?”
Gallery:
Key players shaping economic policy (Washington Post) [ Is this some kind of a
joke? Key players? If this were a game, those ‘key players’ would certainly be
on the other side / team. I mean, come on! Look at their results! Nothing short
of disasterous. And, in case you hadn’t noticed, ‘this is no game’. Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator immediately above
the current date on this page – and that’s just the government (inflation)
numbers … reality is much worse!} Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.]
National / World
Wall
Street Likes Obama 11.8 Million Times More Than Previously Believed at Minyanville ‘Considering Wall Street's well-documented
distaste for President Obama's economic policies, it might be logical to assume
the lion's share of the donations to his re-election campaign recently have
come from elsewhere.
Instead, a new analysis by the Center for Responsive Politics has
found that "individuals who work in the finance, insurance and real estate
sector are responsible for raising at least $11.8 million for Obama's campaign
and the Democratic National Committee," or about one-third of the $34.95
million his "elite fund-raising corps" brought in during the second
quarter of this year.
The Center's Michael Beckel writes:
The Center has
identified 80 bundlers -- out of 244 whose names were released by the Obama campaign last week
-- who are part of the financial sector. Forty-four specifically work for the
securities and investment industry.
Nine of these 80 bundlers have already raised more than $500,000 -- the top
dollar range given by the Obama campaign. Four of them -- former Goldman
Sachs CEO Jon Corzine, Evercore Partners executive Charles
Myers, Greenstreet Real Estate Partners CEO Steven Green and Azita Raji, a former
investment banker for JPMorgan -- did not bundle money for Obama's 2008
campaign.
The other five finance-related top-tier Obama bundlers, who are bundling for
him again this campaign, are:
·
Mark and
Nancy Gilbert, of Barclays, who worked together to raise money as a couple
·
Blair Effron,
of Centerview Partners
·
Kirk Rudy, of
Endeavor Real Estate
·
Orin Kramer,
of Boston Provident
·
John Emerson,
of Capital Group Companies
Dilling down a bit further, the data,
released earlier today, shows the "Securities & Investment"
industry having raised $7.2 million in Q2, $1.1 million more than the next
highest group, "Lawyers/Law Firms" with $6.1 million.
Rounding out the top five: Business
Services, $3.9 million, Real Estate, $2.3 million, and Misc. Finance, $1.75
million…’
America Is a Failed State Because It Won’t Prosecute Financial
Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target
financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Pentagon
Warning Order: ‘Prepare for War’ (By September?) Mac Slavo | The world is just one
misstep away from a complete financial, economic and geo-political meltdown.
‘US
might redeploy Bahrain fleet’ following popular revolution Press TV | Alarm at revolution
against the country’s Washington-backed regime.
U.S. Warplanes Attack
Iraq City Aswat al-Iraq
| Raids cover areas of Ufiya and Abu-Rummana in central Amara.
Obama,
Boehner push for ambitious debt plan Savings of $3 trillion over the next
decade would come from spending cuts and changes to entitlement programs, but
no immediate tax increases. (Washington Post) [Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been
so for a long time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC.
- INCOME STATEMENT If the United States was a
corporation - USA Inc. - here's what the Income Statement would look like:Total
federal spending in 2010 amounted to $3.456 trillion. Total receipts added up
to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011
federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA INC. - BALANCE SHEET If
you think the Income Statement looks bad, you may not want to look at the Balance
Sheet. Consensus estimates for unfunded obligations vary. Mary Meeker pegs the
shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported debt to
be $75 trillion, while other estimates exceed $100 trillion (these amounts are
insurmountable) …’
Moody's
puts U.S. ratings on review for downgrade Europe’s
debt crisis threatens Italy Sheer size of the world’s seventh-largest
economy could thwart any international attempt to bail it out. (Washington
Post) [ Yeah, dem’ darn PIIGS. Reminds
me of that joke (I won’t repeat it here except the punch line): ‘That’s black
bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.).
New
Greek rescue plan approved Stronger countries’ creditworthiness is
effectively pledged to help ailing banks or euro-zone governments. (Washington Post) [ Wow! ‘Talk about good
money after bad and going down with the ship!’ Well, they are ‘captains /
pilots’ so to speak and ain’t that what they supposed to do? Pity the Policymakers July 21st, 2011 by News
by Mohamed A. El-Erian (Project Syndicate) — ‘I don’t know about you,
but whenever I am in an airplane experiencing turbulence, I draw comfort from
the belief that the pilots sitting behind the cockpit’s closed door know what
to do. I would feel very differently if, through an open door, I observed
pilots who were frustrated at the poor responsiveness of the plane’s controls,
arguing about their next step, and getting no help whatsoever from the
operator’s manuals. So it is unsettling that policymakers in many Western
economies today resemble the second group of pilots. This perception reflects
not only the contradictory pronouncements and behavior of policymakers, but
also the extent to which economic outcomes have consistently fallen short of
their expectations.This perception is evident in Europe, the United States, and
Japan, where indicators of economic sentiment are deteriorating again,
already-weak recoveries are stalling, and over-stretched balance sheets are
becoming even more precarious.’ Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent and has been
so for a long time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘USA INC.
- INCOME STATEMENT If the United States was a
corporation - USA Inc. - here's what the Income Statement would look like:Total
federal spending in 2010 amounted to $3.456 trillion. Total receipts added up
to $2.162 trillion. USA Inc.'s 2010 deficit was $1.294 trillion.The 2011
federal budget is $3.7 trillion with a projected deficit of$1.6 trillion. …USA INC. - BALANCE SHEET If
you think the Income Statement looks bad, you may not want to look at the
Balance Sheet. Consensus estimates for unfunded obligations vary. Mary Meeker
pegs the shortfall at $31 trillion, PIMCO's Bill Gross estimates the unreported
debt to be $75 trillion, while other estimates exceed $100 trillion (these
amounts are insurmountable) …’ Standing on the precipice – and ready to jump July 21st, 2011 News By Wolfgang Münchau
( Financial Times) — ‘It looks like there will be deal on a eurozone package
for Greece. The full details are still missing, but it appears that the
eurozone is forcing Greece into a selective default. As part of such a package,
short-term Greek debt will be more or less forcibly converted into long-term
debt. The wretched bank tax is mercifully off the table. And the European
financial stability facility will most likely be allowed to purchase Greek debt
at a discount. LET US NOT MINCE WORDS HERE. THIS WOULD BE A DEFAULT, THE FIRST BY A WESTERN
INDUSTRIALISED COUNTRY IN A GENERATION. I am not quite sure
how it is possible for the European Central Bank to agree to this, or to all of
this. But I will surely be intrigued to hear how Jean-Claude Trichet will
manage to be consistent with what he said a few days ago. There are also
reports that the eurozone leaders may accept a more flexible EFSF beyond those
bond purchases.’
Will:
Obama is the debt problem (Washington Post) [ If ‘wobama the b’ (for
b***s***) was only the debt problem, there’d be some hope. But alas, Mr. Perma
War, Mr. No Pros Wall Street, Mr. Teleprompter, and more all rolled into one,
it’s difficult now to see where one wobama-induced (by failing to heed his own
campaign promises upon which he was elected) problem ends and another begins.
Indeed, an amorphous amalgamation of problematic scenarios that defy, based on
his/their own own lack of perspective/knowledge, their ability to identify the
problems much less solve them. America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to recommend
it. My own direct experience with the region(s) (particularly new jersey, new
york, virginia, connecticut, california) carves out no exception for the
prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Why Apple,
Google And EBay Will Slash And Burn Investors
The following is my
comment to an LA Times article regarding a Justice Department cover-up! As for
your inquiry, all I think about day and night is a long overdue resolution to
the RICO litigation as set forth therein:
I
believe him!
Here’s some real, complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez,
Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom autorun disk (which will open in your computer’s browser) as per your office’s request as made this day (the disk and contents have been scanned by Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks / infection and are without threat). I also include 1 copy of the DVD as filed with the subject court as referenced therein (which files are also included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute which provides a civil remedy, including treble damages and attorney fees, as an incentive for private prosecution of said claims probably owing to the fact that the USDOJ seems somewhat overwhelmed and in need of such assistance given the seriousness and prevalence of said violations of law which have a corrupting influence on the process, and which corruption is pervasive). A grievance complaint against Coan was also filed concurrently with the subject action and held in abeyance pending resolution of the action which was illegally dismissed without any supporting law and in contravention of the Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal rule are the referenced documents as filed. (Owing to the damage to the financial interests of both the U.S. and the District of Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent resolution seek to refer the within to a firm with expertise in that area of the law with which I am not familiar).
The document in 5 pages under penalty of perjury I was asked to forward to the FBI office in New Haven is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman by way of email attachment (apparent but typical problem with my mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With regard to the calls to the FBI’s LA and New Haven, CT offices: There was one call to the LA office and I was referred to the Long Beach, CA office where I personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary documents of the money laundering which he confirmed as indicative of same (he was transferred from said office within approximately a month of said meeting and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for in excess of a decade until he abruptly retired (our last conversation prior to his retirement related to the case and parenthetically, Rudy Giuliani whose father I stated had been an enforcer for the mob to which he registered disbelief and requested I prove it, which I did – he served 12 years in prison, aggravated assault/manslaughter? – and no, there is no Chinese wall of separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said correspondence, there is a plethora of information including evidence supporting the claims set forth in the RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth in the case, inter alia,
There is applicable insurance / surety coverage and neither LA, nor creditors, nor I should continue to have been damaged by this brazened corrupt and illegal scenario, which should be resolved in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer connection may be the reason but I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell phone best for contact).{recent change 323-786-6651 -magic jack}
----------
*The foregoing and as indicated therein was previously send 9-14-10 but delivery confirmation was flawed as set forth below and my inquiries to the u.s. postal service rebuffed (I believe tampered with inasmuch as your office could not locate same). This cover letter (9-13-10) is on the 3 disks with navigable hyperlinks to the subject files for ease of reference, including the files in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office has not received the aforesaid and which can reasonably be presumed to have been tampered with, and hence, a violation of the federal statute concerning same. (Ultimately delivered by UPS) ]
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Sincerely and Regards,
Al Peia
U.S. debt news and euro debt
agreement fuel rally
Top 3 Reasons Markets Were Up on Hopes for Greece Resolution
Meanwhile, back at the fraud-farm, ‘your pain their
gain’: Morgan Stanley's trading
revenue up; stock soars
John
Bogle Didn't Have All The Data at
Forbes
Dutch exposure to Greece and the other PIIGS countries: it is time to end the bailout madness. | Ernst's Blog
Personal
Consumption Rate Of Growth Down 77% In U.S. Since 2000 at Forbes
Top
3 Reasons Markets Were Up on Hopes for Greece Resolution Wall St. Cheat Sheet
Stock
ETFs Bleed $1.6 Billion; Large Inflows Seen In Small Cap Fund at Barrons.com
Banks
Pay Back TARP Funds by… Borrowing From Treasury Yahoo Finance | Banks repaid cash
owed by borrowing from a Treasury-run program.
Oil Prices Rise Reuters | Oil rose for a third
straight session Thursday.
Audit:
Fed gave $16 trillion in emergency loans Stephen C. Webster | Figures produced by the
government’s first-ever audit of the central bank.
S&P
Says Likelihood US Is Downgraded To AA As Soon As Early August Is 50-50 Zero Hedge | A rather sobering report
out from S&P.
Fed
Preparing For US Default Says Plosser Tyler Durden | That giant whooshing, and humming, sound
you hear are all the printers at the basement of Marriner Eccles getting
refills and start the warm up process.
Financial
Terrorism Analysis: How Global Bankers Plunder Nations – Lessons from Greece
Global Research |
Greece is, in fact, a microcosm of the global economy.
Deficits
And Stimulus Only Delay The Inevitable Collapse Bob Chapman | America is insolvent
and has been so for a long time. US
Is in Even Worse Shape Financially Than Greece: Gross When adding in all of
the money owed to cover future liabilities in entitlement programs the US is
actually in worse financial shape than Greece and other debt-laden European
countries, Pimco’s Bill Gross told CNBC Monday.
Maierhofer: ‘…USA Inc. - Balance
Sheet If you think the Income Statement looks bad, you may not
want to look at the Balance Sheet. Consensus estimates for unfunded obligations
vary. Mary Meeker pegs the shortfall at $31 trillion, PIMCO's Bill Gross
estimates the unreported debt to be $75 trillion, while other estimates exceed
$100 trillion …’
Existing
home sales slip Sales of existing homes took a slight dip in June while
prices stabilized. (Washington Post) [ See! Who said that not every storm cloud
has a silver lining as ‘the botched paperwork’ debacle ‘delays judgment day’
while giving those purported new homes sales a chance by drying up some
inventory, though but an ephemeral ‘breather’ at best if at all in factual
reality. Why The Dow Will Plunge To 7,000 By 24/7 Wall St. June 28, 2011 ‘…Housing expert Robert Shiller says home prices could drop
another 10% this year. The ripple effect from a rise in underwater mortgages
will affect everything from bank earnings to consumer credit to consumer
spending. The real estate problem is a drag on the economy and it is one that
will get worse …’ New-home
construction surges in June (Washington Post) [ Riiiiight! One of those
‘all dressed up and no where to go’ pre-election year stats. Given the back-log
in foreclosures, distressed, ‘underwater’ properties, they might literally have
to give them away, fire-sales not excluded. I’d also put these stats (if even
true – I don’t believe anything they say / report, particularly in light of
their desperation, pre-election year, etc.) in the category of: Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job... –Drudgereport
.
Financial
Crisis Phase II Is Ahead at Forbes Bert Dohmen ‘ In late 2007, I wrote the book Prelude To
Meltdown, predicting the global crisis that
occurred the following year. I now see a similar confluence of events
that warns of phase II of the global crisis.
Once again I see all the
“canaries in the mine,” which warned of the 2008 crisis. My just released
book, Financial Apocalypse , provides the clues and the road map, with charts, of
how my indicators successfully predicted the meltdown that occurred in
the fall of 2008. This book is a guide for detecting the next crisis whenever
it occurs. History repeats, or at minimum, it rhymes.
My work shows that “the
new recession has started.” The May 9 issue of the Wellington
Letter was headlined:
“Return of the Double-Dip.” At the time, economists were looking for a
great economy in the second half. Now they talk about a “soft patch.”
Over the past 33 years, we have called the start of every recession, often on
the exact month, or within one month, of the official start as determined one
year later by the official arbiter of recession, the National Bureau of
Economic Research (NBER).
How can we be in
recession now when the GDP still shows growth? Because of improper inflation
adjustments. “Real” GDP growth, the headline number, is nominal growth minus
the rate of inflation. However, inflation is far understated for political
reasons.
Currently, the GDP
deflator is 1.8%, which hardly reflects the true rise in prices. Therefore,
what is counted as “growth,” is actually price increases. Actual inflation,
according to free market economists who calculate inflation as it was done in
1980 before the politician re-engineered it, is now more than 11%. Using that
to adjust GDP for inflation, would show that the economy is now in a very sharp
contraction.
When the current
euphoric earnings forecasts of Wall Street finally reflect that via significant
“earnings downgrades,” the stock market will see a serious “adjustment” as
well.
On July 18, Goldman
Sachs (GS)
substantially lowered its economic growth forecast. Marketwatch.com had this
headline: Goldman Sachs slashes Economic Forecasts. The next step will be for them to substantially
reduce earnings forecasts for the S&P 500.
Will the phase II be as
bad as the 2008 crisis? The last crisis was confined to the private sector,
i.e. financial institutions. The next one will be involve the threatened
default of entire countries. The last time, the central banks bailed out the
financial firms and even Warren Buffett bailed out several firms. Who is big
enough to bail out entire countries? Or will the term of “too big to fail” turn
to “too big to bail?”
Stocks
had best day of 2011They were boosted by a potential breakthrough on debt
and upbeat corporate earnings reports. (Washington Post) [ Take this run-up as
a gift based on fraudulent wall street b***s*** alone and take this opportunity
to sell / take profits / ‘sell today if you missed may and then go away’!
Nothing has been solved; maybe forestalled. The ubiquitous problems make the
notion of a ‘Gordian Knot’ a mere tinker toy in comparison. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Huge suckers’ rally to keep
the suckers suckered in this market based upon backward looking data discounted
multiple times to the upside (including the apple numbers as recently as last
week on ‘leaked’ expectations of ‘better than expected’, etc.), taxpayer funded
QE results, and b***s*** alone. This is an especially great opportunity to sell
/ take profits since there’s much, much worse to come! Why Apple, Google And EBay Will Slash And Burn
Investors IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know it / feel it! Dave's Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was
trading at 11,357 levels at the beginning of the year 2000. More than a decade
later (as of beginning July 2011), the index is at 12582. Therefore, the index
has gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator immediately above
the current date on this page – and that’s just the government (inflation)
numbers … reality is much worse!} Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.]
Check out this inflation calculator: http://www.albertpeia.com/inflationcalculator.htm
A
‘make or break’ time for Greece, E.U. Brussels summit aims to secure
financing for Greece, build confidence that larger economies will be helped if
necessary. (Washington Post) [ Come on! Let’s get real here!
There’ll be no climactic moment when in unison they’ll be ‘high-fivin’ for that
surreal ‘mission accomplished’ (NOT!)
moment made famous by war criminal and failed president dumbya bush. It’s not
their ‘style’; but even if it was, the view that a real and final solution was
actually at hand would be such obvious fantasy so as to court even further
credibility disaster down the road when reality once again rears its familiar
ugly (from their perspective) head. IMF:
Euro is under ‘a shadow’ (Washington Post) [ Wow! You can say that again!
Ok! I will: ‘Euro
is under a shadow’ . Yeah! It really
is … all that … bad for the euro, eu, europe; but, let’s not be xzenophobic
here; pervasively corrupt, defacto bankrupt america’s hand-in-hand / hands
across the water under the same shadow along with that over-printed abused
paper thing called the u.s. dollar. Germany
Says It’s Confident EU Will Agree on Greek Debt Plan Bloomberg | Germany said it’s
confident that European leaders will reach agreement on funding a second Greek bailout. 18
Signs That Global Financial Markets Smell Blood In The Water The Economic Collapse |
‘Can you smell it? There is blood in the water…’ The
Greater Depression Is Upon Us by David
Galland http://www.lewrockwell.com/orig10/galland34.1.html Casey
Research Recently by David Galland: The Road to Perdition ‘The phrase “Greater Depression” was coined by Doug Casey
a decade or so back as a way of describing the economic crisis he foresaw as
inevitable, and which is now materializing.
Because I
think it is important for every organization to constantly challenge its own
assumptions, I’ve long acted as something of a devil’s advocate here at Casey
Research. By constantly pushing our analysts to revisit their assumptions and
calculations, it is my firm intention for us to spot the fork in the road that
indicates it is time to shift strategies away from investments designed to do
well in the face of a currency debasement and to something else.
Being
attentive to that fork in the road is hugely important, because even though we
urge our subscribers not to overdo their exposure to inflation hedges, we
recognize that many do. Many a good person had their clocks cleaned in the
early 1980s solely because they had become overly enamored of their precious
metals – so much so that they stopped thinking of them as an asset class and
began thinking of them more in the terms one might associate with an amorous
dinner date. Thus these investors were utterly unprepared when said date stood
up and broke a dinner plate over their heads.
With that
brief setup, I want to make our views clear: While we correctly anticipated the
recent correction in precious metals, this correction is but a blip in a
secular bull market that is very much intact.
Doug Casey
has often said that the unfolding crisis is going to be even worse than he
expects (which is saying something), and the longer the rest of us at Casey
Research study the tea leaves, it is hard to disagree that the Greater
Depression is still ahead.
Consider:
I’m
convinced that nearly everything about today’s world is going to change over
the coming decade… much of it for the worse …’
National / World
Moody’s
Now Threatening Downgrade on 5 U.S. States Wall Street Cheat Sheet | Moody’s has now issued a new
slate of threats to individual states.
Anger
at government highest in 19 years: poll Raw Story | Dissatisfaction and anger with the federal
government are at a nearly 20-year high.
States
negotiating immunity for banks over foreclosures Reuters | State AGs negotiating wide
immunity for major banks over foreclosure irregularities.
‘Grand
bargain’ on debt is back on the table President Obama said he would accept
a short-term hike in the debt ceiling if it gave lawmakers time to finalize a
comprehensive deal. (Washington Post) [ New
debt strategy gains support in Senate
President Obama and lawmakers in both parties latch on to a new strategy
for reducing the federal debt, saying an emerging plan to save
$3.7 trillion over the next decade could help break the impasse.
Meanwhile, the House passes a separate balanced-budget bill. Debt
debate not increasing confidence in Congress Republicans
fear default, not Aug. 2 deadline Md.,
Va., warned of risk to credit rating Stocks
up as U.S. default worries ease (Washington Post) [ Well, there you go … if
they say it, feel it, and stocks are up because they say it, feel it … well, it
must be true … NOT! Come on! What’s been solved? $3.7 trillion over a decade,
if it happens (very doubtful), it will bearly cover the interest costs. This is
just typical pre-election year politics that not only solves nothing; but has
literally brought the nation to the precipice and now like lemmings, they leap!
Deficit
Ceiling and Stocks - Expect the Unexpected ETFguide Simon
Maierhofer, July 19, 2011, ‘A number of cliches
come to mind when talking about the U.S. debt situation. The most appropriate
might be: 'You can't have your cake and eat it too.' The least applicable is
probably: 'Never put off until tomorrow what you can do today.'
But if you think the U.S.
will default on some of its obligations anytime soon, you don't have enough
faith in the government's most potent weapon - extend and pretend (another
cliche that's become the modus operandi).
Since 1960, Congress has
acted 78 separate times to permanently raise, temporarily extend, or revise the
definition of the debt limit. Chances are Congress will act again before the
August 2 deadline. That however isn't good news.
By the end of this article
you will know the common sense, no nonsense, deficit ramifications for the
stock market and why even 'a deal' isn't good news.
USA Inc. - Income
Statement
If the United States was a
corporation - USA Inc. - here's what the Income Statement would look like:
Total federal spending in
2010 amounted to $3.456 trillion. Total receipts added up to $2.162 trillion.
USA Inc.'s 2010 deficit was $1.294 trillion.
The 2011 federal budget is
$3.7 trillion with a projected deficit of$1.6 trillion. But there's no reason
to despair, just before April 15,Congressional leaders were able to agree on
$39 billion worth of budgetcuts for the remainder of the year.
Senate Majority Leader
Harry Reid hailed this heroic effort as a 'historic' level of cuts. To quantify
just how 'historic' that effort was we'll put it in percentage terms -1%. The
cut amounted to only 1% of the 2011 budget. Apparently it wasn't enough. Thanks
to extend and pretend we've arrived at the next deadline.
Stocks Applaud ...
and Decline
Keep in mind that back in
mid-April when the 'historic' $39 billion cut was hammered out, the S&P was
at about 1,300. Following the 'resolution' of the budget problem stocks rallied
about 5%.
The April 3 ETF Profit
Strategy Newsletter featured the chart below (due to size restrictions the
chart had to be reduced). As per the chart and accompanying analysis, the
Newsletter expected a rally to the next Fibonacci resistance at 1,369, followed
by a bounce off the Fibonacci support at either 1,229 or 1,255 and an attempt
to take out the previous high.
http://www.etfguide.com//contributor/UserFiles/8/Image/5%20-%20April%203%20TF.jpg
This outlook was based
purely on technical analysis with no regard for the deficit problem or European
debt woes (we'll take a look at an updated technical forecast in a moment). The
S&P did top at 1,370 on May 2. Thereafter it dropped to 1,259, and tried to
take out the previous high (the S&P rallied as high as 1,356 on July 7and
stumbled thereafter).
USA Inc. - Balance
Sheet
If you think the Income
Statement looks bad, you may not want to look at the Balance Sheet. Consensus
estimates for unfunded obligations vary. Mary Meeker pegs the shortfall at $31
trillion, PIMCO's Bill Gross estimates the unreported debt to be $75 trillion,
while other estimates exceed $100 trillion.
The Deficit and
Stocks
When President Obama took
office in January 2009, the federal debt was 70% of GDP or $10 trillion. Today
the deficit is close to 100% of GDP at $14.3 trillion. As per a recent AP
report, President Obama had to scroll down his demands and would now be content
with a $2.4 trillion debt ceiling increase to make it last beyond the 2012
elections.
No doubt, the President
would like the deficit issue put on hold until he's re-elected. It seems like
everyone has an agenda that takes priority over solving the actual debt issue.
The whole game could be summed up as White House budget director Jack Lew put
it: 'That all these ideas do is say let's kick the can down the road so that
others will deal with it.'
This, by the way, is why
the pre-election year of the Presidential election year cycles has seen gains
consistently since 1939, because the incumbent party will do what it takes to
remain in office longer.
A lose-lose
Situation
The drawback of the deficit
situation is that there is no easy way out. The government has to either cut
spending (as in fewer benefits for Americans) or increase revenue (as in higher
taxes).
Pick your poison. Either
choice will kill the economy. Of course, you can extend and pretend, which is
probably what will end up happening. No matter how much lip stick you have at
your disposal, a pig remains a pig. The deficit is a big (red) pig.
What is worse, a $14.3
trillion deficit today, or a $16+ trillion deficit (according to Obama's wish)
in 2012? Debt is like gangrene, dry rot or mold, it doesn't just go away, it
gets worse (ask Greece, Ireland, Portugal or any of the other PIIGS).
…
There was no fundamental
good news on June 15 or 16. Some of the headlines featured on June 15 were:
'Is the bull market over? A
look at four different sentiment measures suggests that more pain may await
investors.' - Barrons
'Greek default could
trigger chain reaction' - AP
'Confidence is eroding
among U.S. factories, consumers' – Bloomberg …’
18
Signs That Global Financial Markets Smell Blood In The Water The Economic Collapse
‘…The following are 18 signs that global financial
markets smell blood in the water…
#1
Banks stocks are absolutely getting hammered right now. Bank of America
hit a 52 week low on Monday. Bank of America shares
declined 4 percent to $9.61.
#2 So far this year,
Bank of America stock is down about 27 percent.
#3 Bloomberg is
reporting that Bank of America may be forced to increase its capital
cushion by 50 billion dollars.
#4 Shares of Goldman
Sachs and Morgan Stanley are near two year lows.
#5 Shares in Citigroup fell
2.5 percent on Monday.
#6 Moody’s recently
warned that it may be forced to downgrade the debt ratings of Bank of America,
Citigroup and Wells Fargo.
#7 Barclays Capital,
Goldman Sachs, Bank of America, JPMorgan Chase and Morgan Stanley are all
either considering staff cuts or
are already laying workers off.
#8 The deputy European
director of the International Monetary Fund says that the Greek debt crisis is
“on a knife’s edge“.
#9 Moody’s has slashed
Ireland’s bond rating all the way to junk status.
#10 The yield on 2 year
Portuguese bonds is now over 20 percent, the yield on 2 year Irish bonds is now
over 23 percent and the yield on 2 year Greek bonds is now over
35 percent.
#11 Shares of Italy’s
largest bank dropped by a whopping 6.4% on Monday.
#12 On Monday, the
yield on 10 year Italian bonds was the highest it has been since the euro was
adopted.
#13 On Monday, the
yield on 10 year Spanish bonds was also the highest it has been
since the euro was adopted.
#14 Shares of Germany’s
largest bank fell by a staggering 7% on Monday and are
down a total of 22% so far this month.
#15 Citigroup’s chief
economist, William Buiter, says that without direct intervention by the
ECB there
is going to be a wave of sovereign defaultsacross Europe….“Nothing stands
in the way of multiple sovereign defaults except the ECB: they are the only
game in town, there is nothing else”
#16 Cisco has announced
plans to axe 16 percent of its workers
#17 Borders Group has
announced that it will be liquidating all remaining assets.
That means that 399 stores will be closed and 10,700 workers will lose their
jobs.
#18 During times of
great crisis, many investors seek safe havens for their money. On Monday,
the price of gold shot past $1600 an ounce…’
SEC
rejects suggestion to settle case with CEO who wasn’t charged It was the first time the SEC had filed a
so-called clawback suit to wrest money from an executive who was not accused of
complicity in accounting fraud Mich.
man accused of insider trading (Washington Post) [ Boy! Talk about traveling
as far as possible ‘from the action’ for a case in the millions, when they
could literally set up shop on wall street for a panoply of securities fraud cases
in the trillions. It’s not only that so few people have faith in the so-called
pervasively corrupt, defacto bankrupt american system anymore; but rather, it’s
outlandish that the cogs in the broken american wheel even expect that the
public should have faith in the corrupt, broken american ‘system’. After all,
they truly spend more time and resources covering up and working around what
should be their focus; viz., the big cases which were / are truly instrumental
in the prior / ongoing financial meltdown / crisis which resulted in huge
profits / gains for the perpetrators. This is not to say they shouldn’t bring
the small cases; but, ignoring the big cases owing to typical corrupt, venal
motives is inexcusable. What a lost nation!
Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book ‘Goombata:
The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman .
Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Milbank:
Congress is now middle school ‘Anew Washington
Post-ABC News poll finds that 80 percent of Americans are dissatisfied with
the way the federal government is working. Such a finding leads to an
inevitable conclusion: The other 20 percent aren’t paying attention … Ah, sweet
Mr. Milbank. Who said he gets things wrong? Middle school? From Gipper (I
always hated that trite reference to Reagan – and again, let me reiterate that
though I liked Reagan as a very likeable guy, the last real american leader /
president was the underrated but great President General Eisenhower who warned
of the current debacle called america in the sense of admonishing of the danger
inherent to the now entrenched ‘military industrio-inferiority complex’) to
graduation, perma-wobama apologist Mr. Milbank has come a long way; but, a pile
of b***s*** in the form of ‘wobama the b’ stands intractably in his way, no
matter what. Because … ? You can’t change what lamentably wobama is and has proven himself to be. If only he
had done what he promised he would do (those false campaign promises which got
him elected). But alas, as in the moral of the story of the ‘scorpion and the
frog’, you cannot change the nature of that cowardly, failed ‘president’ called
‘wobama the b’. (Washington Post) [The
new party of Reagan The Gipper helps make the case for Democrats. (Washington
Post) [ ‘Well there you go again’ quoting the ‘Gipper’, off the deep end as one
might expect from wobama apologist Mr. Milbank (he’s somewhat of a lemming
himself). After all, how different really are the parties these days when
profligate spending on illegal, unnecessary wars was continued when democrats
controlled congress, and then even the executive office when continuing failed
president and war criminal dumbya bush’s nation bankrupting, nation destroying
war policies, protection for unprecedentedly huge wall street frauds, bush tax
cut extensions for the wealthy, and then some (spending on top of it).
Preposterous! Especially since Reagan’s most significant achievement was his
rational approach toward Russia (with of course the substantial help of the
astute Gorbachev) toward the ameliorative goal of peace and consequent peace
dividend which enabled a ‘smooth-sailing’ though undeserved tenure for
ultimately clinton (cia man ‘poppy the sailor man’ bush was already working on
stirring up war / military industrial complex matters in the Mideast – that
April Glaspie/cia/Iraq/Kuwait communiqué to sadam and the consequent debacle,
etc.). Call
Obama’s bluff Republicans should force him to propose real tax reform.
(Washington Post) [ Well, the first part, ‘Call obama’s bluff’; eh, what the
heck, sounds good. But, propose ‘real tax reform’? I’d say, giving him the
benefit of the doubt, Mr. Krauthammer’s somewhat uncharacteristically in
fantasy land. After all, isn’t all of this part of the pre-election year game
of ‘blind men’s bluff’. Kind of like being between the proverbial ‘Iraq and a
hard place’. I mean, where were all these principled partisans when it could
have counted; ie., Is a U.S. Default Inevitable? Patrick J. Buchanan | ..bush prepared
to invade Iraq in 2002..likely cost would be $60 billion, said Mitch Daniels of
the OMB..finance the war with Iraqi oil,said Wolfowitz..the cost of the Iraq
War? It has passed $1 trillion..’, etc..
Obama
on high ground But Cantor could still bring him down. (Washington Post) [
High ground? No such thing for ‘wobama the b’ (for b***s***)! He can run, but
can’t hide from his contraindicated (based on reality, broken campaign
promises, and consequences therefrom) record of unequivocal failure. Geithner
says hard times to continue for many [ But not for his frauds on wall
street for whom everyone’s expected to keep sacrificing; and, ultimately their
negative churn-and-earn in real economic terms has to come from some place,
ie., you, yours, main street, etc., and has manifested in the QE’s, etc.. Well,
there you have it. The product of his, wobama et als’ policies; viz., unhappy
days are here again’ or, hard times for most are here to stay, or, you get the
picture, your pain their gain. ] Moody's
puts U.S. ratings on review for downgrade Europe’s
debt crisis threatens Italy Sheer size of the world’s seventh-largest
economy could thwart any international attempt to bail it out. (Washington
Post) [ Yeah, dem’ darn PIIGS. Reminds
me of that joke (I won’t repeat it here except the punch line): ‘That’s black
bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
A
Decade of Decline in Equity Markets Faisal Humayun [ This is a must read
and explains how the market’s been artificially propped, the dow relative to
hard assets, ie., gold (dow/gold ratio), has actually crashed 78%, and
comparable prospects for the next decade, etc.. ‘…The Dow Jones Index was trading
at 11,357 levels at the beginning of the year 2000. More than a decade later
(as of beginning July 2011), the index is at 12582. Therefore, the index has
gained 11% in the last ten years…’ Yet, the inflationary dollar (declining)
debasement rate was 31%. (-31%) {See the inflation calculator immediately above
the current date on this page – and that’s just the government (inflation)
numbers … reality is much worse!} Meanwhile, the frauds on wall street are
churnin’ and earnin’ like never before at lightning computerized speeds
enabling the high-frequency trades that are commissioned in unprecedented large
volumes; a big net negative in real economic terms.]
Check out
this inflation calculator: http://www.albertpeia.com/inflationcalculator.htm
The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Previous, full moon and
fraudulent wall street, get this, rallies on not as bad as expected EU stress
tests and better than expected google results but forget the dire consumer
(recession level) consumer sentiment number ‘cause after all, consumer spending
just a paltry 70% of GDP. Think about
this: short-lived Pavlov dog rally (the conditioned stimulus) on hopes for more
welfare for wall street and some good results in communist China. This despite
the previous failure of QE for everyone but the frauds on wall street and
ultimately, though circumlocuted, at great taxpayer expense. Titans of capitalism?
How ‘bout the biggest unprosecuted frauds in the world. Preposterous! Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud ) …
I want just one person
with courage enough to stand up and explain to all that these huge
commissionable computerized trading volumes like never before are a net
negative in a very big way … that’s a fact … that’s economic reality in real
terms! … Trade deficit up, growth predictions by fed
scaled down [ do you recall how many upside market points for the false, more
positive growth projections by the ‘no-recession’ fed, then there’s also the
costly, hyperinflationary failed QE hopes, more fed jawboning rallies the
frauds on wall street off their lows to keep suckers suckered – they all belong
in jail! Housing
Woes to Cause Recession in 2012, Says Gary Shilling - Peter Gorenstein STOCKS
BARELY FALL AFTER MOUNTAIN OF BAD NEWS: Here's What You Need To Know Business Insider Weisenthal
Economic scenario far worse than expected (and in this pre-election year the
reality is still far worse than reported), yet stocks still rallied off lows to
keep suckers sucked in to this fraudulent market Click
here to see the new scariest jobs chart ever
http://www.businessinsider.com/details-from-the-awful-june-june-jobs-report-2011-7 > See all 12
charts from St Louis Fed: http://static8.businessinsider.com/image/4e1712edcadcbba25f030000-595-356/chart.jpg Previous:Stocks
rally on jersey-based, former Lautenberg ADP still paltry, better than expected
157,000 private jobs number and one’s got to wonder ‘who got paid’, one way or
another, for the fudge. Then there’s the horrific ‘american tech’. Retail? The
defacto bankrupt government’s probably buying with money they don’t have, at
best; and, as with other data in these desperate pre-election-year times, plain
false, falsified, fudged, spun. Previous day, all bad news … from eurozone
(protugal, et als), to asia zone (china worse than expected), to america (where
to begin, from defacto bankruptcy, to debased currency, to insurmountable debt
/ dervice, to pervasive corruption, etc.) … stocks rally on fraud and b***s***
alone. Previous,
higher oil price rally, along with Netflix ‘technology rally’ … Don’t make me
laugh! … Total desperation on wall street and in Washington … How pathetic! … Jobless claims at 428,000 much worse than expected;
and, don’t forget, these are desperate ‘pre-election times’ when regardless of
factual reality (ie., fake reports, data, as, ie., ‘wobama hometown’ corrupt
chicago ISM is up as even their youth gangs are showing increased criminal
activity which probably accounts for the rise; ie., meth, crack labs, etc.?)
data / reports are fudged / faked / spun. Foreclosure,
distressed sales up, at least on paper with contracts signed, so no surprise
nor reason to cheer here, as markets worldwide jump on the american crazy train
for a short-lived bounce as all problems remain. This
is the same month end (and quarter, half) spurt / window dressing based on
b***s*** alone to keep the suckers suckered and an especially great time to
sell / take profits since there’s much worse to come! Talk about milking the
greek crisis for the umpteenth time a so-called solution (and there are loads
of greecy scenarios worldwide … I don’t
think so and neither does Schaeffer who says: ‘…even once such a package is passed it only buys
time. Actually fixing the fiscal condition of Greece is not something that can
be solved in a matter of weeks, or even months…‘ but
it’s great press for the churn and earn and to keep the suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into.
This is an especially great opportunity to sell / take profits while you still
can since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default
Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
Another
Financial Crisis Is On The Way, Mobius Says Market
Crash 6/30/11?Technical indicators suggest market collapse may begin by June
30th Dennis Slothower is one of the world’s leading technical analysts. He’s
one of the few advisors whose readers completely avoided ALL losses during the
disaster that was 2008. And now he’s issuing another dire warning. His
technical indicators suggest that the market manipulation we’ve seen over the
last several months is about to come to an end…and that means thousands of
investors are about to get clobbered. This correction could begin as soon
as June 30th– so it’s important that you take
action now to prepare yourself. StealthStocksOnline.com STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell
Why Apple,
Google And EBay Will Slash And Burn Investors
Don't
Count on Social Securityat Motley
Fool ‘ President Obama recently warned that Social Security
checks were not guaranteed to be paid in the event the debt ceiling does not
get raised before August 3. Regardless of whether he meant it -- or if it was
mere political posturing -- it underscores yet another problem with the Social
Security system: It's not your money.
When all is said and
done, your projected Social Security benefits are simply not your property. The Supreme Court has twice ruled
that, in fact. You're simply assessed a tax based on your income and then may get something back in the form of a payment, should
you live long enough and/or otherwise qualify -- and if funding remains available.
Add it to the list
So now, not only do you have to worry about:
... but you also need to
worry about whether your benefits will be cut simply because of politics. The
lesson in this is abundantly clear: Don't count on Social Security. Absent
significant changes, its own trustees doubt its long-term solvency, and as the
President warned, the benefits may be at risk as soon as next
month.
Invest your money in your future
Whether it happens next month, the 2036 target that Trustees currently estimate
for its trust fund to evaporate, or somewhere in between, Social Security is on
track to reduce its payments. If you were counting on it to help fund your
retirement, you essentially have two options:
How much you need to
replace depends on your specific circumstances, of course. For the sake of
discussion, though, the average Social Security retiree received $1,181.59 this
month, or an annualized rate of $14,179.08. If you believe the Trustees'
version of the future, once the Trust Fund expires, Social Security will
continue to pay out about three-quarters of its expected benefits.
In that scenario, the
average retiree would need to cover around an additional $3,544.77 per year,
inflation adjusted from today's dollars to their actual date of retirement.
Based on the 4%
rule, it means you'll need to save around an additional $88,619.25 in
today's dollars to cover for Social Security's expected long-run shortfall…’
Intel pulls
back PC market outlook, shares slide SAN FRANCISCO (Reuters) - Intel Corp trimmed its
forecast for 2011 personal computer unit sales, warning of softness in mature
markets and sending its shares more than 1 percent lower.
Raising
The Debt Ceiling Is Just Kicking The Can Further Down The Road at Forbes
Top 3
Reasons Markets Were Down After Yesterday’s Rally Wall St. Cheat Sheet, July 20, 2011,
Markets closed down on
Wall Street today: Dow -0.12% , S&P -0.14% , Nasdaq -0.43% , Oil +0.60% ,
Gold +0.21% .
On the commodities
front, Oil climbed to $98.45. Precious metals were also up today, with
Gold climbing to $1,600.20 an ounce while Silver gaining 1.19% to just break
$40 an ounce.
Don’t Miss: Why
is China Telling the U.S. How to Handle its Debt?
Today’s markets were
down because:
1) Debt debate .
Investors weren’t so much wary of the markets as they were distracted,
resulting in a rather ho-hum day of trading. While the
Gang of Six plan introduced in the Senate yesterday is gaining steam, so is
the Cut, Cap and Balance Act, which was pushed through the House by the Tea
Party. The act was passed by the Republican majority in the House, but won’t
make it through the Democrat-dominated Senate, while the Gang of Six plan,
technically bipartisan, has a better chance of being passed by the Senate than
the House. And in the meantime, we’re another day closer to the Treasury’s
August 2 deadline and still no debt ceiling deal.
2) Yesterday’s rally .
After all three major indices posted huge gains, including the Dow , which had
its biggest one-day rally of the year on Tuesday, markets were bound to slump
as investors fell back down to reality. Existing
home sales slipped in June and traders took profits. Still, today’s minor
losses only give back a fraction of yesterday’s gains.
3) Apple. After
releasing its earnings report yesterday, Apple’s stock bounced, closing today
up 2.67%, making it one of the biggest gainers on the Nasdaq. Unfortunately,
one tech company’s good news is another’s bad. Competitors Microsoft ,
Hewlett-Packard , and Google all closed out the day well into the red…’
US
Economy Literally Making People Physically Sick at Minyanville
“Robo-Signing”
Fraud Continues — Surprise! USA
Watchdog | 14 of the biggest banks promised regulators they’d
stop robo-signing documents…
Borders,
2nd Largest Chain Bookstore, Forced to Close All Stores WSJ | Borders, the second-largest
U.S. bookstore chain, said it would liquidate and close all stores.
Too
Big To Fail?: 10 Banks Own 77 Percent Of All U.S. Banking Assets Economic Collapse | In 2008, people
were told that the largest banks in the U.S. were “too big to fail.”
Postmaster
says days are numbered for Saturday mail delivery USA Today | Mail carriers have been
making rounds six days a week since the 19th century.
We’re
On Track For Record-Low Housing Completions In 2011 Calculated Risk | As I mentioned earlier,
the U.S. is on pace for a record low number of multifamily completions in 2011.
A
Few Years From Now You’re Going To Wake Up With A Bunch Of New Taxes Bruce Krasting | We’re coming down to
the wire on the debt limit.
Obama
struggles to get Wall Street funding Financial
Times | Mr Obama’s haul dwarfed the $34m collectively pulled in
by the Republican candidates, but he lagged in one sector – finance.
National / World
Man’s
call for Obama assassination is free speech, not crime, court rules LA Times | A divided panel of the
U.S. 9th Circuit Court of Appeals overturned that conviction Tuesday.
Unemployed
Welfare Mom Tries to Sell Baby at Taco Bell New York Daily News
20 Signs That The Fabric Of American Society Is Coming
Apart At The Seams The American Dream | Most people agree that there is something
fundamentally wrong with America. There is wild disagreement about what is
causing it, but what most people can agree on is that there is something
fundamentally wrong with America. The fabric of American society just
does not seem to be as strong as it used to. In fact, many would argue
that society is coming apart at the seams. Corruption and decay seem to be
everywhere. I spend a lot of time in my other articles blaming a lot of
this corruption and decay on politicians, bureaucrats and business leaders, but
the reality is that they are only part of the story. The truth is that
those who are leading us are a reflection of what we have become as a
nation. If you got rid of all of our corrupt leaders that would not
suddenly “fix” this country. Millions of ordinary Americans have become
deeply corrupt as well. The kinds of things that you are about to read
about below were very rare in past generations. Society is falling apart
all around us and we haven’t even seen the complete collapse of the U.S.
economy yet. A lot of people like to blame the increasingly bizarre behavior of
the American people on the economy, but the reality is that things are not
nearly as bad as they are eventually going to be. Yes, the U.S. “Misery
Index” recently hit a 28 year high. Tens of
millions of American families are deeply suffering. Unemployment is rampant
and unprecedented numbers of Americans have been getting kicked out of their
homes. But that is nothing compared to what is coming. So what is America going
to look like when true economic suffering comes along? That is something to
think about. A lot of the items in the list below may seem easy to dismiss as
“isolated incidents”. But when you start examining patterns of behavior
over an extended period of time, certain trends begin to emerge. America
is become a very cruel place. The love of most people seems to be growing
cold. What some people are willing to do for a little bit of money or
just because someone has “pissed them off” is absolutely stunning. The
America of today is fundamentally different from the America of past
generations. We have changed, and not for the better.
The following are 20 signs
that the fabric of American society is coming apart at the seams…..
#1 A 17-year-old Florida teen is being accused of killing his
parents with a hammer, hiding their bodies in the master bedroom, and then
inviting dozens of people over for a massive house party.
#2 What is it with 17-year-olds? Another
17-year-old has been charged with putting a plastic bag over the head of his
mother and choking her to death
with a belt. His two brothers just stood by and watched while this happened.
Apparently the 17-year-old was infuriated because his mother wanted them to
play a game of Yahtzee with her.
#3 The largest school cheating scandal in the history
of the United States was recently uncovered in the Atlanta area. Dozens
of teachers and principles were involved according
to a recently released 413 page report….
More than three quarters of the 56 schools investigated cheated
on a 2009 standardized state test, with 178 educators implicated, including 38
principals. Eighty-two teachers confessed to erasing students’ answers and
correcting tests. The report says widespread cheating has occurred since at
least 2001 and that orders to cheat came from the top.
#4 A Vancouver, Washington woman has been charged with
trying to sell her newborn baby in
front of a Taco Bell. Apparently she was hoping to get somewhere
between $500 and $5000 for the baby.
#5 In the United States today, if you don’t show cops
“proper respect” there is a good chance that you are going to get tazed.
Just check out this disturbing video of an
incident that recently happened in Alabama.
#6 A 48-year-old woman in California was recently
arrested after she drugged her husband, chopped off his manhood and threw it
into the garbage disposal.
#7 In the Dallas area, five people (including a
pregnant woman) were trampled
while lying on the ground as thousands of desperate people madly dashed to
get into line to get on a waiting list for rental assistance vouchers.
#8 A 35-year-old New York man that has been charged
with “kidnapping,
killing and dismembering an 8-year-old boy” says that he “hears voices” and
he has been ordered to undergo a psychological evaluation.
#9 There has been a rash of car robberies in the
Atlanta area recently. Just a couple of nights ago, more than 30 cars were broken
into in a single night in south Buckhead.
#10 All over the United States this summer, thieves are
stealing just
about anything they can get their hands on. People are stealing air
conditioners, copper wiring, restaurant furniture, metal drain covers and even
hair extensions.
#11 In Woodstock, Georgia a 61-year-old man reportedly
promised to give a 17-year-old boy money if he would do certain “things” for
the man. Well, it turns out that the 61-year-old man ended up setting the teen on fire….
A 61-year-old man has been arrested on charges of
aggravated battery, cruelty to children, false imprisonment, and solicitation
of sodomy after he set a 17-year-old boy on fire in Woodstock.
#12 In Washington state, a 23-year-old woman is accused
of dumping her newborn baby into a trashcan at the
hospital. When a nurse finally found the plastic bag with the baby boy
inside of it, the child was blue in the face from a lack of oxygen.
Fortunately, the baby survived the ordeal.
#13 In another story from Washington state, a man that
is being charged with producing child porn is being allowed to watch that porn
all he wants while he is in prison because he is acting as his own lawyer and
needs to have “access to the evidence“….
So because he’s acting as his own lawyer, he gets full access to
the evidence against him. Which means that as he prepares for trial, a private
room has been set up in the jail where Gilbert can watch the full 30-hour
archives of his own child porn collection.
#14 The National Retail Federation says that “inventory
loss” for retail storeswas up 11% last year.
Most of the “inventory loss” is attributed to such things as shoplifting and
employee theft.
#15 In Minnesota recently, a mob of teen girls brutally
pummeled a mother and her two daughters until they were black
and blue. Apparently the mob of teen girls was enraged over a pair of
missing sunglasses.
#16 One of the hot new trends for young males is to play
the “knockout game“. In this “game”,
a group of young men picks out an innocent bystander and the first one to knock
that person out is the “winner”.
#17 Prior to 2011, most Americans had never even heard
of “mob robberies“. Today, they
have made headline news all over the nation.
#18 In the San Francisco area recently, fire crews and
police just stood on the shore and watched
as a suicidal 50-year-old man slowly drowned to death in the San Francisco Bay.
#19 Meanwhile, the federal government continues to waste
money on some of the most bizarre things imaginable. For example, the
federal government actually gave money to the National Institutes of Health to
study the effect that the size of “a
certain part of the body” has on the sex lives of gay men. Can anyone
think of a reason why the federal government would want to throw money away on
such frivolous studies when millions of Americans can’t even find jobs right
now?
#20 Many believe that a big reason for all of this chaos
in America today is the decline of the American family. In 1960, married
couples accounted for 75 percent of all households in America. Today,
they account for just 48 percentof all
households.
Whatever your political or
religious philosophy is, hopefully you can agree that America is in
trouble. Every single day, there are more shocking revelations about the
corruption and the decay that are spreading throughout this nation.
Sadly, instead of coming
together to work on some solutions to our growing problems, Americans are
becoming more divided than ever.
The mainstream media teaches
us that our “opponents” are those that belong to political, social or religious
groups that are different from our own. They love to divide us and play
us off against each other. Everywhere you look in America, hate is
growing.
But hatred is never the
answer. Yes, we should always stand up for what we believe is right, but
we can do that and still love one another at the same time.
Unfortunately, as America
continues to come apart at the seams we are probably going to see this country
become even more divided.
United we stand, divided we
fall – you make the call America.’
Borders,
2nd Largest Chain Bookstore, Forced to Close All Stores WSJ | Borders, the second-largest
U.S. bookstore chain, said it would liquidate and close all stores.
Too
Big To Fail?: 10 Banks Own 77 Percent Of All U.S. Banking Assets Economic Collapse | In 2008, people
were told that the largest banks in the U.S. were “too big to fail.”
6 Steps
by the IMF for a One-World Currency Brandon
Smith | The concept of a global currency is often spoken of
only with an atmosphere of caution.
Obama
struggles to get Wall Street funding Financial
Times | Mr Obama’s haul dwarfed the $34m collectively pulled in
by the Republican candidates, but he lagged in one sector – finance.
Germany
Says It’s Confident EU Will Agree on Greek Debt Plan Bloomberg | Germany said it’s
confident that European leaders will reach agreement on funding a second Greek
bailout.
18
Signs That Global Financial Markets Smell Blood In The Water The Economic Collapse | ‘Can you
smell it? There is blood in the water. Global financial markets are
in turmoil. Banking stocks are getting slaughtered right now.
European bond yields are absolutely soaring. Major corporations are
announcing huge layoffs. The entire global financial system appears to be
racing toward another major crisis. So could we potentially see a repeat
of 2008? Sadly, when the next big financial crisis happens it might be
worse than 2008. Back in the middle of 2008, the U.S. national debt was
less than 10 trillion dollars. Today it is over 14 trillion dollars. Back
in 2008, none of the countries in the EU were on the verge of financial
collapse. Today, several of them are. This time if the global
financial system starts falling apart the big governments around the world are
not going to be able to do nearly as much to support it. That is why what
is happening right now is so alarming. As signs of weakness spread, the
short sellers and the speculators are starting to circle. They can smell
the money.Back in 2008, bank stocks led the decline. Today, that appears
to be happening again. The “too big to fail” banks are getting absolutely
pummeled right now. Most people don’t have much sympathy for the
banksters, but if we do see a repeat of 2008 they are going to be cutting off
credit and begging for massive bailouts once again, and that would not be good
news for the economy.In Europe, the EU sovereign debt crisis just seems to get worse
by the day. Bond yields for the PIIGS are going haywire. The higher
the yields go, the worse the crisis is going to get…
The following are 18
signs that global financial markets smell blood in the water…
#1 Banks stocks are absolutely getting hammered right
now. Bank of America hit a 52 week low on Monday. Bank
of America shares declined 4 percent to $9.61.
#2 So far this year,
Bank of America stock is down about 27 percent.
#3 Bloomberg is
reporting that Bank of America may be forced to increase its capital
cushion by 50 billion dollars.
#4 Shares of Goldman
Sachs and Morgan Stanley are near two year lows.
#5 Shares in
Citigroup fell 2.5 percent on Monday.
#6 Moody’s recently
warned that it may be forced to downgrade the debt ratings of Bank of America,
Citigroup and Wells Fargo.
#7 Barclays Capital,
Goldman Sachs, Bank of America, JPMorgan Chase and Morgan Stanley are all
either considering staff cuts or
are already laying workers off.
#8 The deputy European
director of the International Monetary Fund says that the Greek debt crisis is
“on a knife’s edge“.
#9 Moody’s has slashed
Ireland’s bond rating all the way to junk status.
#10 The yield on 2 year
Portuguese bonds is now over 20 percent, the yield on 2 year Irish bonds is now
over 23 percent and the yield on 2 year Greek bonds is now over
35 percent.
#11 Shares of Italy’s
largest bank dropped by a whopping 6.4% on Monday.
#12 On Monday, the
yield on 10 year Italian bonds was the highest it has been since the euro was
adopted.
#13 On Monday, the
yield on 10 year Spanish bonds was also the highest it has been
since the euro was adopted.
#14 Shares of Germany’s
largest bank fell by a staggering 7% on Monday and are
down a total of 22% so far this month.
#15 Citigroup’s chief
economist, William Buiter, says that without direct intervention by the
ECB there
is going to be a wave of sovereign defaultsacross Europe….“Nothing stands
in the way of multiple sovereign defaults except the ECB: they are the only
game in town, there is nothing else”
#16 Cisco has announced
plans to axe 16 percent of its workers
#17 Borders Group has
announced that it will be liquidating all remaining assets.
That means that 399 stores will be closed and 10,700 workers will lose their
jobs.
#18 During times of
great crisis, many investors seek safe havens for their money. On Monday,
the price of gold shot past $1600 an ounce…’
Ron
Paul: The Federal Reserve is Defaulting on the American People Washington’s Blog | Politicians need
to understand that without real change default is inevitable.
National / World
Thank You for Your
Service? Laurence M. Vance | It is without
question that Americans are in love with the military. [ Interestingly, Mr.
Vance does not seem to quibble with the bloated, self-perpetuating military
costs despite the defacto bankruptcy of the nation. Moreover, I think he cuts
them a break in not discussing that many, the ranks of which include felons,
etc., really have nothing better nor more productive to do with their time (and
learning to use ‘tools of the trade’, ie., weaponry, guns, etc., might be prospectively useful since america sports
the highest crime rates by far of the so-called developed nations, and not for
law enforcement either, although law enforcement would be a very sparce and
limited exception to the decidedly negative aspect involved here). The
foregoing said, I do not have antipathy for them; but rather only for their
current misguided mission and purpose which, of course, is out of their hands
entirely. Indeed, I even empathize with those who bought into the propaganda;
notably, ie., Pat Tillman, etc., who belatedly learned of ‘the dupe’ and was
fragged for it. In fact, I almost fell prey to the same progpaganda campaign
during the Vietnam War, having lost some friends in action there I was about to
leave my freshman year at NYU for an appointment at West Point (from the
stories I would not go over there as a grunt) which I had secured despite my
exemption; and wisely, thankfully ultimately decided against it (for reasons
beyond the scope of this writing). I think what’s telling though not mentioned
in the article is how military, the industrial complex and attendant propaganda
has succeeded (coup d’etat/JFK assassination, or defacto coup d’etat) in making
a clear negative appear positive. But, I also believe with few exceptions, it’s
the inherently criminal nature of americans generally that explains
aforementioned phenomenon as well as america’s love affair with and lore of
criminals of all stripes; viz., jesse james, billy the kid, butch cassidy and
the sundance kid, bonnie and clyde, mafia / rappers / gang members, etc.. ]
Europe
see U.S. debt crisis as a threat Washington’s deadlock increasingly
threatens to strike another blow to Europe’s ailing financial system.
(Washington Post) [ Duh! Ya think? Really, I’ve truly lost all of whatever
respect I had for europe. After all, they have wholeheartedly and with open
eyes, self-destructively jumped on board the american-crazy-train. It’s truly a
shame because the result could have been far different in the most positive
sense; yet, it’s difficult to imagine that they were too blind to see it. There
have been numerous, rational admonitions against so doing (lies, injustice, the
american way). Over-reliance upon central banks and the ‘no-recession-fed’
particularly has also played a substantial role in this global debacle. Fed
Can Manipulate Markets, But Can't Reverse Economy at Minyanville Toby Connor Jul
11, 2011 ‘I believe that we have begun the topping process of this cyclical
bull market [ in this secular bear market ]. In a healthy market an
intermediate decline is a profit-taking event after a significant leg up. It
should hold well above the prior intermediate bottom. The decline into the June
low was not a profit-taking event. The market had not rallied long enough or
far enough to warrant an intermediate correction and certainly not one that
would test the March lows. The decline in May and June was the first shot
across the bow that something was wrong with the fundamentals driving this
market.
Now let me be clear, I don't recommend anyone sell short the market. All I'm
saying is it's too late to have retirement funds positioned long at this time.
Asset appreciation is the Fed’s stated third mandate. Bernanke is going to
fight the bear tooth and nail. There will be continued interventions into the
markets. The rules will be changed as we go. Anything and everything will be
tried to keep stock and bond markets levitated. That is not the kind of
environment conducive to making consistent gains on the short side. That is the
kind of environment that can and will whipsaw traders to death.
Even in a market free of intervention the topping process is always volatile
and dangerous. But in a market that is being actively managed it is especially
dangerous on the short side. Case in point -- the June bottom was way too early
for a final intermediate bottom.
As I've said before, we should have seen a counter trend bounce to relieve
sentiment extremes followed by another leg down into a more lasting bottom.
Unfortunately that was not allowed to happen. The powers that be manufactured
an explosive rally on the low volume pre-holiday week in an attempt to create a
massive momentum move ahead of the end of QE2 that would be hard to turn
around. Needless to say Bernanke didn't want a repeat of last year when QE1
ended.
http://image.minyanville.com/assets/FCK_Jan2011/Image/July11/1-spx%20new%20bearb.JPG
Click
to enlarge
The Fed can temporarily turn the markets higher but what they cannot do is
reverse the economy. I said when QE1 began that no amount of printing or
stimulus would stop the underlying cancer in the economy. All it would do is
create a brief reprieve which would be followed by an even deeper and more
severe recession once the sugar high wore off.
The simple fact is that we cannot cure a problem of too much borrowing and too
much spending with more borrowing and more spending. We tried this in the `30's
and it caused a 15 year depression. Japan tried it and it led to two lost
decades.
The cure is to bite the bullet and allow the deleveraging process to run its
course. Yes it will be painful. We've put this off for so long that it isn't
just going to be painful it's going to be catastrophic. But the longer we kick
the can down the road the worse the endgame becomes. The only ray of sunshine I
can offer is that if we let the markets work they will complete the
deleveraging process fairly quickly. Within 2 to 3 years the world can be back
on a sustainable path of growth. Continue to fight this and we could be stuck
in an on-again off-again recession for another 20 years with the final end game
collapse so devastating that it will make the Great Depression look like a
picnic.
The last two employment reports are clearly showing that the economy is
slipping back into recession. I suspect by August the employment report could,
and probably will, turn negative. All the manufactured rallies in the world cannot
prop up the stock market if the economy is rolling over into another recession.
They can postpone the inevitable only so long and ultimately will just make the
bear that much more severe.
The Fed's efforts have only extended the topping process, they haven't stopped
it.’
Gloomy
consumers cast dark cloud over economy
Housing Woes to Cause Recession in 2012, Says Gary
Shilling
World
Bank chief blasts U.S. on trade Robert Zoellick launches a blunt critique
of the Obama administration’s approach.
(Washington Post) [ What approach? Obfuscating, backroom deals to get
through the election while solving nothing? Credit-rating
firms loom over debt debate Despite a behind-the-scenes campaign by the
White House to keep the nation’s major credit-ratings companies from
threatening to downgrade the U.S., the firms have issued default warnings
anyway. (Washington Post) [ Call
Obama’s bluff Republicans should force him to propose real tax reform.
(Washington Post) [ Well, the first part, ‘Call obama’s bluff’; eh, what the
heck, sounds good. But, propose ‘real tax reform’. I’d say, giving him the
benefit of the doubt, Mr. Krauthammer’s somewhat uncharacteristically in
fantasy land. After all, isn’t all of this part of the pre-election year game
of ‘blind men’s bluff’. Kind of like being between the proverbial ‘Iraq and a
hard place’. I mean, where were all these pricipled partisans when it could
have counted; ie., Is a U.S. Default Inevitable? Patrick J. Buchanan | ..bush prepared
to invade Iraq in 2002..likely cost would be $60 billion, said Mitch Daniels of
the OMB..finance the war with Iraqi oil,said Wolfowitz..the cost of the Iraq
War? It has passed $1 trillion..’, etc..
Obama
on high ground But Cantor could still bring him down. (Washington Post) [
High ground? No such thing for ‘wobama the b’ (for b***s***)! He can run, but
can’t hide from his contraindicated (based on reality, broken campaign
promises, and consequences therefrom) record of unequivocal failure. Geithner
says hard times to continue for many [ But not for his frauds on
wall street for whom everyone’s expected to keep sacrificing; and, ultimately
their negative churn-and-earn in real economic terms has to come from some
place, ie., you, yours, main street, etc., and has manifested in the QE’s,
etc.. Well, there you have it. The product of his, wobama et als’ policies;
viz., unhappy days are here again’ or, hard times for most are here to stay,
or, you get the picture, your pain their gain.
] Moody's
puts U.S. ratings on review for downgrade Europe’s
debt crisis threatens Italy Sheer size of the world’s seventh-largest
economy could thwart any international attempt to bail it out. (Washington
Post) [ Yeah, dem’ darn PIIGS. Reminds
me of that joke (I won’t repeat it here except the punch line): ‘That’s black
bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene pool
which, borrowing from an insurance term, viz., adverse selection, springs forth
the notion of inevitability to the genocide of the indigenous populations while
guaranteeing the decline we see throughout this foundering nation. The effects
of these negative predispositions toward inherent criminality is certainly
being felt globally as well as domestically and has little to recommend it. My
own direct experience with the region(s) (particularly new jersey, new york,
virginia, connecticut, california) carves out no exception for the prevalence
of the worst of human nature; which is now collectively and pervasively
americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
The number of Americans
that are really depressed about the direction of the economy continues to
grow. At first most Americans had expected the U.S. economy to bounce
back after the recession “like it always does”, but now hope is turning into
desperation as people start realizing that this time things are different.
Most Americans are very
eager for things to go back to normal. Unfortunately, things look like
they are about to get even worse.
The following are 16
reasons to feel really depressed about the direction of the economy….
#1 A newly released National Federation of
Independent Business polldiscovered that U.S. small businesses let go of
more workers than they hired in June. Previously, the poll had registered
four monthly gains in net jobs in a row. Some analysts believe that this
may be another indication that the employment market is getting softer once
again.
#2 Another newly released jobs report found that the
number of job cuts being planned by U.S. employers increased
by 11.6% in June.
#3 There are fewer payroll jobs in the United States
today than there were back in
2000 even though we have added 30 million people to the population since
then.
#4 There are officially 6.2 million Americans that
have been unemployed for more than 6 months. There are millions of others
that have also been out of work that long but they have become so discouraged
about looking for work that the U.S. government considers them “to no longer be
in the workforce”.
#5 It now takes the average unemployed worker in
America nearly 40 weeksto find a new job.
#6 Paychecks are not keeping up with inflation.
In May, the average hourly wage in the United States was 1.6 percent lower than 12
months earlier.
#7 Food and gas prices have been absolutely soaring
over the past year. McDonald’s, Hershey and Coca-Cola have all announced
price increases this year. One recent survey found that 9 out of 10 U.S. workers do not expect
their wages to keep up with soaring food prices and soaring gas prices over
the next 12 months.
#8 There are disturbing indications that the business
community expects the economy to slow down even more in the months ahead.
For example, pre-orders for Christmas toys from China are
way down.
#9 As of April, there were 6.39 million home loans in
the United States that were either delinquent or in foreclosure. Included
in that were 675,000 home loans that had not had a single payment made on them
in two years.
#10 Approximately 28 percent of all home loans in the
United States are currently “underwater”.
#11 Overall, American households are about 7.7 trillion dollars poorer
than they were back in early 2007.
#12 As a percentage of GDP, the total amount of debt in
the United States is now far higher than it ever has been in any other era of
U.S. history. Things were not even close to this bad during the Great
Depression.
#13 One of the key measures of consumer confidence in
the United States has hit a seven-month low.
#14 According to Gallup, the percentage of Americans
that lack confidence in U.S. banks is now at an all-time high of 36%.
#15 According to one recent poll, 39 percent of Americans
believe that the U.S. economy has now entered a “permanent decline”.
#16 Another recent survey found that 48 percent of
Americans believe that it is likely that another great Depression
will begin within the next 12 months.
So what is the United
States going to look like if we do have another major economic downturn?
If the U.S. economy
continues to get worse and worse, will what is happening in Greece eventually start happening
in this country?
Let us certainly hope
that our cities do not descend into chaos any time soon.
However, we should not
just stick our heads in the sand and pretend that everything is going to be
okay.
Those of us that are
aware of what is happening to the economy should take this time to get
prepared.
We should all be getting
out of debt. When the economy tanks and interest rates start to spike you
don’t want a horde of creditors hunting you down.
We should all be
reducing our expenses and learning to live on less. It is those that are
“lean and mean” that will have the best chance of making it through a major
downturn successfully.
We should all be storing
up emergency food and supplies. After all, you take out insurance on all
kinds of other things, don’t you? We all need to be fully prepared just
in case the worst happens.
The truth is that most
Americans are totally unprepared for economic troubles. As the financial
crisis of 2008 demonstrated, when people lose their jobs and their wealth they
will come in and take everything away from you.
And it is not just your
home that you could lose. When you don’t have any more money left there
is a chance that authorities will take everything away from you.
For example,
according to one local news report,
six kids were taken away permanently from their parents just because they were
homeless and living in a storage shed….
“You shouldn’t take our kids because we’ve fallen on hard
times,” said Prince Leonard, a married father of six whose family resides in a
northeast Houston storage shed.
The Leonards moved in three years ago after the father, an
unemployed welder, was hired as a maintenance worker.
Well, it turns out that
the storage shed actually had “an air conditioner, a refrigerator and two
personal computers”, so they were not living too terribly.
But this is what happens
to so many poor families today – “child protective services” will come in and
take their children away at the drop of a hat.
Poor people are an easy
target. They know that they are unlikely to fight back and so thousands
and thousands of young children are constantly being ripped out of homes and
never returned.
Don’t think that it can
never happen to you. It is happening all over the country.
Meanwhile, the
mainstream media continues to act like everything is just fine. As our
economy continues to be caught in a death spiral they are busy cracking jokes
and talking about celebrities.
While the country is
falling apart, the following video is an example of what passes for news in
America these days….
The sad reality of the
matter is that “the American Dream” is dying.
Every month more
American families are slipping out of the middle class and into poverty.
Over the past four
years, the number of Americans on food stamps has risen by 18 million. A
higher percentage of Americans is enrolled in government anti-poverty programs
than ever before.
There will be millions
of Americans that will not be able to sleep tonight because they are being
eaten alive by worry and fear. If the economy does not turn around soon, there
will be even more American families that are living in their cars and eating
out of dumpsters.
Our economic problems
are a horrible nightmare that never seems to end. We are literally
watching the greatest economy on earth crumble before our very eyes.
So if you feel really
depressed about all this, nobody is going to blame you.
But pulling yourself
together and getting yourself and your family prepared for the really hard
times that are coming might be a better course of action.’
Running
in the Red Part 1 | How the U.S.
detoured to massive debt. (Washington
Post) [ There’s really no mystery here. Ultimately it comes down to the 3 r’s;
viz., readin’, ‘ritin’, and ‘rithmetic. Basic math skills are fundamental, but
2+2 hasn’t equaled 4 for quite some time in pervasively corrupt, defacto
bankrupt america. Moreover, a fundamental reality in inherently criminal
america is as coincidentally posted this day on infowars.com with more general
application, ‘Crisis And Collapse Unfortunate but Inevitable Bob Chapman | As we have said for
many years crime on Wall Street, in banking and in corporate america pays.’
Indeed, crime does pay in america; and it pays well. Fog of war has also been
instrumental in providing grand opportunities for thieving ways while at the
same time destructive of this nation and accomplices, as well as the nations so
targeted. Parker:
Obama’s not-quite-true story (Washington Post) [ I frankly am quite
surprised that Ms. Parker chooses this of all accounts when there’s a
cornucopia of lies now inseperable from the personified fraud, barrack obama
aka ‘wobama the b’ (for b***s***).
Indeed, wobama’s become a shamelessly insufferable, jive-talking liar
that can only now be at best considered a failed president. Do not feel sorry
for him. He rolled the dice when contrary to campaign promises that got him
elected, he continued the contraindicated, misguided, and prohibitively costly
and quite unnecessary perma-war policies of failed president, predecessor
dumbya bush. On top of that he’s spent more yet, even caving on the bush tax
cut extensions though spending like mad.
Too little, too late; he gambled, he lost. All he had to do was what he
said he was going to do. Not only would that have been correct, but he could
not have been faulted if perchance it was not.
I don’t believe anything he or his teleprompter says. I find his
rhetorical speeches, jive-talking and sense of petulant indignation
intolerable. Quite simply, wobama(s) is nauseating. Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job...
GALLUP
SHOCK: 'REPUBLICAN' BEATS OBAMA BY 8%
DEM
FLASHES RACE CARD IN DEBT DEBATE...[ Oh come on! This jive-talking,
failed ‘president’ has been indulged in every way imaginable and possible (all
those false campaign promises that got him elected, etc.); and people are tired
of his excuses and making excuses for him. He may not have been the first
(clinton has been said even by blacks to have been the first ‘black
president’), but he most assuredly is the last black president, fitting every
negative stereotype imaginable including racist hypocrisy. UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
'Only
THIS president has received the kind attacks and disagreements'...
BOEHNER:
HE HAS NO PLAN...
[ It’s true; ‘wobama the b’ (for b***s***) has no plan whatsoever. Ask Mr.
Teleprompter. ]
KRAUTHAMMER:
CALL THE BLUFF!
McConnell:
Deal Not Possible With Obama … [ I think this shoe fits wobama ...
African-American unemployment at 16% ... (But there’s rationality in this stat
as people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then
there’s the attitude. I truly believe from direct experience that even when
their outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed.) ] ...
Senate
works on framework to raise debt limit As a breakthrough in bipartisan
White House talks begins to look unlikely, Senate leaders work to craft an
alternative strategy. (Washington Post) [ Sounds like a plan! Riiiiight! That
framework thing … for the spending thing … with money they don’t really have on
things they don’t really need, ie., the perma wars (that military inferiority
complex thing), etc.. Republican
leaders clash over debt-limit plan Sen. McConnell warns that default could
“destroy” the GOP brand, but Rep. Cantor rejects his proposal to break the
stalemate over raising the debt limit.
(Washington Post) [McConnell
calls for raising debt limit in steps Senate Republican leader offers to
give President Obama new power to raise debt ceiling as a “backup plan” in case
talks collapse. (Washington Post) [ As if we didn’t ultimately see that coming;
you know, it might affect their paychecks if they didn’t … . Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Budget
amendment plan proceeds as debt crisis eludes compromise Obama meets with top House GOP in hopes of
reaching a debt-limit agreement that could win approval. Obama
vows veto of deficit-cutting plan Klein:
Dangers of being wrong on Keynes Poll:
Little confidence in leaders to deal with issue (Washington Post) [ Well let’s not kid
ourselves since the wobama et als plan already means: IT'S
GOING TO HURT 'FOR LONG TIME TO COME' Says tiny tim geithner … thanks for the heads
up tiny tim ‘God bless us
everyone’! … As if we didn’t already
know it / feel it! … Stock futures, dollar falls; Moody’s warns U.S. Wed, 13 Jul 2011 Carla Mozee
(MarketWatch) — ‘U.S. stock index futures and the U.S. dollar fell Wednesday
evening after a ratings agency warned that it may cut its rating on U.S.
government debt … The Head Of The World’s Biggest Hedge Fund Sees “Economic
Collapse” Due To Money Printing By Early 2013 Zero Hedge | Dalio believes that future inevitable money printing
will “lead to a collapse in currencies and bond markets.” The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Suckers’ rally into the close off lows to keep the
suckers suckered.
Whistleblower’s
Death: James Corbett on Murdoch scandal turning bloody RT | The News Of The World
phone-hacking scandal whistleblower has been found dead.
Dangerous
Levels Of Radiation Recorded In Canada As Fukushima Radiation Dangers Continue
The Intel Hub | This
should be a RED ALERT to all Americans and Canadians!
Ron Paul
Road to 2012: The Tom Sulivan Show YouTube
| Ron Paul is America’s leading voice for limited,
constitutional government, low taxes, free markets, sound money, and a
pro-America foreign policy.
Armed
Drones: A Diabolical Revolution in the “Art of War” Global Research | The UK Ministry of
Defence, in common with the defence policies of other states, is increasing its
development, manufacture and use of armed drones.
Israeli navy
seizes Gaza-bound yacht Reuters
| The Israeli navy Tuesday seized a French yacht carrying pro-Palestinian
activists.
Bachmann
criticizes black farmer settlement OMAHA, Neb.
(AP) — ‘Republican presidential candidate Michele Bachmann pointed to one
program in particular Monday when talking about wasteful government spending: a
multibillion dollar settlement paid to black farmers, who claim the federal
government discriminated against them for decades in awarding loans and other
aid.
The issue came up after
Bachmann and Republican Rep. Steve King of Iowa toured flooded areas along the
Missouri River. During a news conference, they fielded a question about whether
farmers affected by the flooding also should be worried by proposed U.S.
Department of Agriculture cuts.
The two responded by
criticizing a 1999 settlement in what is known as the Pigford case, after the
original plaintiff, North Carolina farmer Timothy Pigford. Late last year,
President Barack Obama signed legislation authorizing a new, nearly $1.2
billion settlement for people who were denied payments in the earlier one
because they missed deadlines for filing.
King has likened the
Pigford settlement to "modern-day reparations" for African-Americans.
He said Monday a large percentage of the settlement "was just paid out in
fraudulent claims" and criticized the Obama administration's plan to
resolve separate lawsuits filed by Hispanic and female farmers.
"That's another at
least $1.3 billion," King said "I'd like to apply that money to the
people that are under water right now."
Bachmann seconded King's
criticism, saying, "When money is diverted to inefficient projects, like
the Pigford project, where there seems to be proof-positive of fraud, we can't
afford $2 billion in potentially fraudulent claims when that money can be used
to benefit the people along the Mississippi River and the Missouri
River."…’
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Here’s some real,
complicit cover-up / fraud on the part of the federal government, et als:
October 15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom
autorun disk (which will open in your computer’s browser) as per your office’s
request as made this day (the disk and contents have been scanned by Avast,
McAfee, and Norton which I’ve installed on my computer to prevent viral attacks
/ infection and are without threat). I also include 1 copy of the DVD as filed
with the subject court as referenced therein (which files are also included on
the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil)
RICO action (as you’re aware, the RICO Act is a criminal statute which provides
a civil remedy, including treble damages and attorney fees, as an incentive for
private prosecution of said claims probably owing to the fact that the USDOJ
seems somewhat overwhelmed and in need of such assistance given the seriousness
and prevalence of said violations of law which have a corrupting influence on
the process, and which corruption is pervasive). A grievance complaint against
Coan was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the
horizontal rule are the referenced documents as filed. (Owing to the damage to
the financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent
resolution seek to refer the within to a firm with expertise in that area of
the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty
of Perjury at Their Request (5 pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman
by way of email attachment (apparent but typical problem with my mail) along
with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm .
With regard to the calls to the FBI’s LA and New Haven, CT offices:
There was one call to the LA office and I was referred to the Long Beach, CA
office where I personally met with FBI Agent Jeff Hayes to whom I gave
probative evidentiary documents of the money laundering which he confirmed as
indicative of same (he was transferred from said office within approximately a
month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said
correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth
in the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).
----------
*The foregoing and as indicated therein was
previously send 9-14-10 but delivery confirmation was flawed as set forth below
and my inquiries to the u.s. postal service rebuffed (I believe tampered with
inasmuch as your office could not locate same). This cover letter (9-13-10) is
on the 3 disks with navigable hyperlinks to the subject files for ease of
reference, including the files in the RICO action as indicated. (10-15-10) I
spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office
has not received the aforesaid and which can reasonably be presumed to have
been tampered with, and hence, a violation of the federal statute concerning
same. (Ultimately delivered by UPS) ]
Inflationistas
vs. Deflationistas: What Does CPI and PPI Tell Us? at Minyanville Jeff Harding Jul
18, 2011 ‘The reason we are not seeing rapid price inflation is that money
supply growth has been rather modest considering the Fed's attempts to pump the
economy full of money and credit.
Inflationistas are
probably confounded by Friday’s Consumer
Price Index report, which showed a decline of 0.2% in June. The report pins
the decline, the first since June 2010, on falling energy costs. As a large
component of CPI it:
...declined 4.4 percent
in June, the largest decline since December 2008. The gasoline index, which
fell 2.0 percent in May, declined 6.8 percent in June. (Before seasonal
adjustment, gasoline prices fell 5.8 percent in June.) Despite the recent
declines, the gasoline index has increased 35.6 percent over the past 12
months.
On the other hand, the
deflationists are probably using the data to confirm their belief that
we are in a deflationary trend.
The data shows that “core” price inflation, all items less
food and energy, was still +0.3%, and up 1.6% for the year. The broad CPI-U was
up 3.4% for the year. Core was up 0.03% for the second month, the biggest back-to-back gain in two years.
Some key items:
[E]nergy dropped 4.4
percent, following a 1.0 percent decline. Gasoline fell 6.8 percent after
decreasing 2.0 percent in May. Within the core new vehicles increased 0.6
percent, used cars and trucks jumped 1.6 percent, and
apparel increased 1.4 percent in June. And owners’ equivalent rent is no longer
as soft as in recent months, rising 0.2 percent.
Food: The food index rose 0.2 percent in June after rising 0.4 percent in each
of the prior two months. The index for meats, poultry, fish, and eggs turned
down in June, falling 0.4 percent after increasing more than one percent in
each of the previous four months. The fruits and vegetables index declined for
the third month in a row in June, falling 0.3 percent as the fresh vegetables
index continued to decline. In contrast, other major grocery store food groups
increased. The index for cereals and bakery products rose 0.6 percent in June,
and the dairy and related products advanced 0.5 percent, as did the index for
other food at home. The index for nonalcoholic beverages increased 0.3 percent
as the coffee index continued to rise. The index for food at home has risen 4.7
percent over the last 12 months, with all the major groups increasing 3.2
percent or more. The index for food away from home rose 0.3 percent in June
after rising 0.2 percent in May.
http://image.minyanville.com/assets/FCK_Jan2011/Image/July11/jh7181.JPG
http://image.minyanville.com/assets/FCK_Jan2011/Image/July11/jh7182.JPG
There are some things to take away from this report. Core is still trending
upward, but oil seems to be declining and bringing CPI down. Oil is not based
so much on market factors as it is on OPEC. Supply and demand has an
impact on these prices, but as we all know, OPEC can influence prices by
increasing or decreasing production. Thus when economists look at CPI they like
to remove the impact of oil to see if they can get a better read on the data.
I would not entirely agree with that. If demand was superfluous to OPEC, then
prices wouldn’t fluctuate as much as they have. As demand for oil grows, prices
rise worldwide. But, I believe prices rise not only because of demand, but
because of the impact of a devalued dollar. And we aren’t the only country in the
world that is devaluing their currency. So, I believe it is possible to look at
oil much as any other commodity that impacts our cost of living, regardless of
OPEC’s impact. All I know right now is that demand is down worldwide because of
falling industrial production, and prices have fallen. It shouldn’t be excluded
from CPI calculation and that is why the number went down.
I believe “inflation” is an increase of money supply brought about by the Fed,
and that price increases are an effect of it. To distinguish this from the
common definition of “inflation,” I will refer to price increases as “price
inflation.” The reason we are not seeing rapid price inflation is that money
supply growth has been rather modest considering the Fed’s attempts to pump the
economy full of money and credit. Quantitative easing is an inefficient way to
create price inflation, at least as compared to an expansion of money and
credit by banks. And as we all know, banks aren’t lending robustly these days.
But the Fed is indeed pumping money, and monetary inflation is the reason we
aren’t seeing deflation. True (Austrian) Money Supply (TMS2 -- green line) exploded post-Crash until January 2010
and dropped like a rock until late 2010 when it started growing again. See
this chart from Michael Pollaro which I have amended with the dates of QE1
and QE2:
http://image.minyanville.com/assets/FCK_Jan2011/Image/July11/jh7183.JPG
As you can see, the Fed has been pushing on a string, attempting to create
price inflation and prevent “deflation.” They think they have succeeded in the
deflation part, but they are dissatisfied with their attempts at inflation.
The next monetary data report should show more growth in TMS2. QE1 kept TMS2
expanding for about 10 months after it stopped in March 2009 through
January 2010, when it collapsed again. I would expect the effect of QE2 to be
shorter than QE1 because the post-Crash chaos has been resolved to the extent
that now positions are known and we are in a slow but steady debt liquidation
process. This liquidation phase is much stronger than the Fed realizes and the
resolution of malinvestment is going slowly, no thanks to them. This hampers
the formation of new capital and discourages businesses from expanding as the
economy remains in the doldrums. Thus more monetary steroids loses its efficacy
as this process continues.
So, as an inflationista, why haven’t we seen prices go crazy? Let me summarize
my thoughts:
Editor's Note: This article was originally published at The
Daily Capitalist.’
Litany
of Woes Sparks Renewed Bearish S&P ETF Options Trades at Forbes
Paul B. Farrell: 7 reasons U.S. needs a Good Depression now By Paul
B. Farrell, MarketWatch SAN LUIS
OBISPO, Calif. (MarketWatch) — ‘No, do not raise the debt-ceiling. You heard
me: Block the debt ceiling vote. Don’t raise it. America’s out-of-control. A
debt addict. Time to detox. Deal with the collateral damage before it’s too
late.
We need to fix America’s
looming credit default, failing economy and our screwed-up banking system. Now,
with a Good Depression. If we just kick the can down the road one more time,
we’ll be trapped into repeating our 1930’s tragedy, a second Great Depression.
The U.S. needs to invest
in a massive public works program, and rich people and corporations should pay
more taxes. Barton Biggs, of Traxis Partners, shares his views with the Simon
Constable.
Yes, depression.
Spelled: d-e-p-r-e-s-s-i-o-n. Wake up America, recessions do not work. Won’t
work in the future. Remember that 30-month recession after the dot-com crash?
Didn’t work. Why? Because in the decade since that 2000 peak, Wall Street’s
lost an inflation–adjusted 20% of America’s retirement money.
And what about the
so-called Great Recession of the 2008 credit meltdown? Didn’t work either. In
fact, made matters worse: Wall Street got richer by stealing from the other 98%
of Americans, the middle class, the poor. And now their conservative puppets in
Washington want to make matters worse, widening the wealth gap further to
benefit the Super Rich.
Seems nobody really
gives a damn about our great nation any more. America’s now a capitalists
anarchy: “Every (rich) man for himself.” Proxy battles are fought by
high-priced lobbyists in a broken political system. America needs a 21-gun
wake-up call. Yes, that’s why America needs a Good Depression. The economy’s
bad now. But kicking the can down the road again will make matters much worse
later.
This is not our first
call for a Good Depression. As early as 2005 we began reporting on excessive
debt. In November 2007 we warned of a crash dead ahead. The subprime credit
meltdown had been accelerating for many months, although for a year our leaders
kept misleading Americans: Fed Chairman Ben Bernanke’s “it’s under control.”
Treasury Secretary Henry Paulson’s delusional “best economy I’ve ever seen in my
lifetime.”
In August 2008 came the
original of our seven reasons why America needs a Good Depression. Yes August,
just two months before Wall Street banks collapsed into de facto bankruptcy,
after many warnings predicting a crisis. This was no Black Swan. In September
2008 we reported on Naomi Klein, author of “Shock Doctrine: The Rise of
Disaster Capitalism,” warning of Wall Street’s insidious plan to take over
America:
“Nobody should believe
the overblown claims that the market crisis signals the death of ‘free market’
ideology.” Then as the meltdown went nuclear, Klein warned: “Free market
ideology has always been a servant to the interests of capital, and its
presence ebbs and flows depending on its usefulness to those interests. During
boom times, it’s profitable to preach laissez faire, because an absentee
government allows speculative bubbles to inflate.”
But “when those bubbles
burst, the ideology becomes a hindrance, and it goes dormant while big
government rides to the rescue. But rest assured,” she predicted, Reaganomics
“ideology will come roaring back when the bailouts are done. The massive debts
the public is accumulating to bail out the speculators will then become part of
a global budget crisis that will be the rationalization for deep cuts to social
programs, and for a renewed push to privatize.”
Yes, all was
predictable: The events of the past few years were well known in advance. In
fact, the events of the entire decade were predictable. The rich got richer off
the backs of the middle class and the poor. Why? “There’s class warfare all
right,” warns Warren Buffett. “But it’s my class, the rich class, that’s making
war, and we’re winning.”
And they are also blind
and deaf to the havoc their free-market Reaganomics policies are creating,
selfishly undermining America, the world’s greatest economic power.
Lessons learned? Zero.
Why? Wall Street, Washington and Corporate America are focused on one
narrow-minded short-term strategy: Economic g-r-o-w-t-h, bull markets,
megabonuses, tax cuts. In good times they tout “free markets.” But when greed
bombs, they throw free-market “principles” under the Reagan Revolution bus and
unleash their mercenary lobbyists to go whining to Congress for huge taxpayer
bailouts and access at the Fed discount window, to siphon off more taxpayer
money. And they’ll do it again soon,
Wall Street and their
cronies are doing such a miserable job, America needs a new strategy: First,
stop “kicking the can down the road.” Let a good old-fashioned Good Depression
do the job that our hapless, happy-talking leaders refuse to do. Take our
medicine. Let a new depression clean house and reawaken Americans to core
values.
Trust me folks, it’s
either a Good Depression now … or a Great Depression 2. Here are seven reasons
favoring the do-it-now strategy:
What’s the real problem?
Not the economy, not markets, nor even politics. Yes, our economic pains are
real. But they’re just symptoms. Something’s structural wrong. Since 2000
endless bad news: Greed, deceit, stupidity, corruption, unethical behavior,
lack of moral conscience.
The real problem’s deep
in our character, the “mutant capitalism” Jack Bogle warned of in “The Battle
for the Soul of Capitalism.” Sadly, that battle was lost. With it we lost our
soul, our moral compass. America’s character is measured by our net worth.
Comparing today with the
Great Depression is common sport. In a Newsweek special “Seeing Shades of the
1930s,” Dan Gross wrote: “Wall Street, after two terms of a business-friendly
Republican president, self-immolated on a pyre of greed, incompetence and
excessive optimism.” Today’s “new normal” economy means high unemployment for
years, inflation driving prices, rising interest rates, more debt, chaos.
We are destroying
ourselves from within. Former U.S. Comptroller General David Walker warns that
“there are striking similarities between America’s current situation and that
of another great power from the past: Rome.” Three reasons “worth remembering:
declining moral values and political civility at home, an overconfident and
overextended military in foreign lands, and fiscal irresponsibility by the
central government.” We are becoming more vulnerable to external enemies.
Before the 2008 crash,
“Irrational Exuberance” author Robert Shiller warned in the Atlantic magazine
that “bubbles are primarily social phenomena. Until we understand and address
the psychology that fuels them, they’re going to keep forming.” Housing
inflated 85% in the decade: “Historically unprecedented … no rational basis for
it.”
Bubble thinking is an
toxic virus that infected everyone. Shiller warns of another coming: “We
recently lived through two epidemics of excessive financial optimism … we are
close to a third episode.”
Writing in the Wall
Street Journal, Jim Grant, editor of the Interest Rate Observer, wrote: “Why No
Outrage? Through history, outrageous financial behavior has been met with
outrage. But today Wall Street’s damaging recklessness has been met with
near-silence, from a too tolerant populace.” Grant worries that Wall Street
will run “itself and the rest of the American financial system right over a
cliff.”
But we only went to the
edge in 2008. Today, a rebellious “throw the bums out” hostility is blowing a
new kind of bubble: Three years ago we did not have Tea Party, union fights,
the Arab Spring and Greek austerity riots, all signs of an dark angry future
sweeping across America.
In a powerful Bloomberg
Markets feature, “No Easy Fix,” we’re told Wall Street’s “profit formula has
hit a wall.” Their “money-making machine is broken and efforts to repair it
after the biggest losses in history are likely to undermine profits.”
Even Mad Money’s Jim
Cramer openly admits hedge fund managers are pocketing megaprofits at capital
gains rates while laughing at the stupidity of a broken political system that
gives hundreds of billions in tax breaks to the richest, then takes taxes off
the table as our middle class is dying under massive unsustainable deficits.
Soon angry mobs will “fix” Wall Street.
The American economy is
a “war economy” driven by a egomaniac. I saw it firsthand as a U.S. Marine.
Americans love being king of the hill, world’s cop, the global superpower. Why
else spend 54% of our tax dollars on a war machine, 47% of the world’s total
military budgets.
Why? Our war machine
generates such “spectacular profits that many people around the world” are
convinced America’s “rich and powerful must be deliberately causing
catastrophes so that they can exploit them,” warns Klein in “Shock Doctrine.”
No wonder the GOP takes military spending, like tax cuts for the rich,
off-the-table: The war industry is a major political donor.
In “The Price of
Liberty: Paying for America’s Wars,” Robert Hormats, undersecretary of state
and a former Goldman Sachs vice chairman, traces America’s wartime financing
from the Revolutionary War to present wars. He warns that today we’re “relying
on faith over experience, hoping that sustained growth will erase deficits and
that the ballooning costs of Social Security, Medicare and Medicaid will be
manageable in the coming decades without difficult reforms.”
Absent a brutal reset,
we are on a historically predictable course says Kevin Phillips, Nixon
strategist and author of “Wealth & Democracy:” “Most great nations, at the
peak of their economic power, become arrogant and wage great world wars at
great cost, wasting vast resources, taking on huge debt, and ultimately burning
themselves out.” Yes, burned out, unprepared.
So pray for a Good
Depression earlier rather than later. Choose now and we can be prepared for
whatever comes. Or a Great Depression will hit later, when we’re least
prepared, the problems bigger, our faith weaker … don’t raise the debt
ceiling.’
Our
Debt Binge Is Ending — And The Middle Class Will Get Clobbered
Fed
Can Manipulate Markets, But Can't Reverse Economy at Minyanville Toby Connor Jul
11, 2011 ‘I believe that we have begun the topping process of this cyclical
bull market [ in this secular bear market ]. In a healthy market an
intermediate decline is a profit-taking event after a significant leg up. It
should hold well above the prior intermediate bottom. The decline into the June
low was not a profit-taking event. The market had not rallied long enough or
far enough to warrant an intermediate correction and certainly not one that
would test the March lows. The decline in May and June was the first shot
across the bow that something was wrong with the fundamentals driving this
market.
Now let me be clear, I don't recommend anyone sell short the market. All I'm
saying is it's too late to have retirement funds positioned long at this time.
Asset appreciation is the Fed’s stated third mandate. Bernanke is going to
fight the bear tooth and nail. There will be continued interventions into the
markets. The rules will be changed as we go. Anything and everything will be
tried to keep stock and bond markets levitated. That is not the kind of
environment conducive to making consistent gains on the short side. That is the
kind of environment that can and will whipsaw traders to death.
Even in a market free of intervention the topping process is always volatile
and dangerous. But in a market that is being actively managed it is especially
dangerous on the short side. Case in point -- the June bottom was way too early
for a final intermediate bottom.
As I've said before, we should have seen a counter trend bounce to relieve
sentiment extremes followed by another leg down into a more lasting bottom.
Unfortunately that was not allowed to happen. The powers that be manufactured
an explosive rally on the low volume pre-holiday week in an attempt to create a
massive momentum move ahead of the end of QE2 that would be hard to turn
around. Needless to say Bernanke didn't want a repeat of last year when QE1
ended.
http://image.minyanville.com/assets/FCK_Jan2011/Image/July11/1-spx%20new%20bearb.JPG
Click
to enlarge
The Fed can temporarily turn the markets higher but what they cannot do is
reverse the economy. I said when QE1 began that no amount of printing or
stimulus would stop the underlying cancer in the economy. All it would do is
create a brief reprieve which would be followed by an even deeper and more
severe recession once the sugar high wore off.
The simple fact is that we cannot cure a problem of too much borrowing and too
much spending with more borrowing and more spending. We tried this in the `30's
and it caused a 15 year depression. Japan tried it and it led to two lost
decades.
The cure is to bite the bullet and allow the deleveraging process to run its
course. Yes it will be painful. We've put this off for so long that it isn't
just going to be painful it's going to be catastrophic. But the longer we kick
the can down the road the worse the endgame becomes. The only ray of sunshine I
can offer is that if we let the markets work they will complete the
deleveraging process fairly quickly. Within 2 to 3 years the world can be back
on a sustainable path of growth. Continue to fight this and we could be stuck
in an on-again off-again recession for another 20 years with the final end game
collapse so devastating that it will make the Great Depression look like a
picnic.
The last two employment reports are clearly showing that the economy is
slipping back into recession. I suspect by August the employment report could,
and probably will, turn negative. All the manufactured rallies in the world
cannot prop up the stock market if the economy is rolling over into another
recession. They can postpone the inevitable only so long and ultimately will
just make the bear that much more severe.
The Fed's efforts have only extended the topping process, they haven't stopped
it.’
Gloomy
consumers cast dark cloud over economy
Housing
Woes to Cause Recession in 2012, Says Gary Shilling - Peter Gorenstein ‘ Stocks rallied
Wednesday after Federal
Reserve Chairman Ben Bernanke suggested the central bank would go ahead
with another round of stimulus -- aka quantitative easing -- if the economy
continues to slump. In this scenario, the Federal Reserve would once again
purchase assets to keep interest rates low in an attempt to support the economy
and prop up asset prices.
So far, the Fed's
actions have done more good for asset prices like stocks (see: S&P 500
chart since 2009) while doing less to help the economy (see:
June jobs report). U.S. gross domestic product grew just 1.9% in the first
quarter of the year. For 2011 as a whole, the Fed forecasts U.S. GDP growing at
2.7% to 2.9%, which is lower than the plus 3% forecast they made in April.
Today's guest, Gary
Shilling, President of A. Gary Shilling & Co. and author of the Age
of Deleveraging says another recession is brewing -- no matter what action
the Fed takes. "Economic growth here and abroad is slipping, making a 2012
recession a distinct possibility," he writes in his July newsletter. And,
"when you have slow growth it doesn't take much of a shock to throw you in
negative territory."
Shilling says the shock
to trigger the next recess is "another big leg-down in housing." (An
asset class the Fed has not been able to reflate.) As those familiar with
Shilling know, his forecasts are generally bearish. However, in his
defense, Shilling was one of the few economists who correctly predicted the
dangers of the subprime mortgage market and its impact on the broader economy.
The problem with the
real estate market remains excess inventory. Based on Shilling's research,
there are 2 million to 2.5 million excess homes in the country -- a supply that
will take 4-5 years to work-off. The result: Housing prices will fall another
20% and underwater mortgages will balloon from 23% to 40%, he says.
With housing slumping
again, Shilling says recession is coming to a town near you in 2012.’
Investors
Move Money Out of Blue Chips at
Forbes
Top 3
Reasons Markets Were Down on Debt Fears and Banks Wall St. Cheat Sheet July 18, 2011 ‘Markets closed down on Wall Street today: Dow
-0.74% , S&P -0.81% , Nasdaq -0.89% , Oil -1.35% , Gold +1.04% .
On the commodities
front, Oil made a reversal, dropping to $95.93, while precious metals
continued to gain, with Gold up to $1,606.70 an ounce and Silver up 3.49% to
$40.44 an ounce..
Today’s markets were
down because:
1) Same old, same old.
Lately, whenever stocks are down, it has something to do with the sovereign
debt crisis, whether it’s Greece, Italy , Ireland, or the U.S. And today it’s
everybody. Lawmakers continue their game of chicken with just two weeks until a
deal must be reached, while European leaders still haven’t decided on the role
of private investors in a new Greek aid package and Italy’s bond yields
continue to skyrocket. And last week’s bank
stress tests failed to have much of an impact on fears as analysts are
saying that they were too lenient and didn’t accurately test bank preparedness
for Greek default.
2) Banks. Nothing pulls
down the markets like the nation’s biggest banks . When they’re having a bad
day, everyone’s having a bad day, and Bank of America was leading sector
losses, dropping 2.50%. Wells Fargo , Citibank , Deutsche Bank , and Morgan
Stanley were all down more than a percent. With all 10 S&P sectors down,
financials were by far the worst, helping NYSE decliners outnumber gainers
four-to-one. While declines might be explained by general wariness among
investors worried about the economy, it might also have something to do with
the looming uncertainty
surrounding the Dodd-Frank Act and how strictly it will regulate banks and
thus hinder profitability.
3) The Murdoch Effect.
The non-stop
bad press machine that is News Corp. has seen its shares drop off nearly
18% since news of its phone-hacking scandal broke. The stock has fallen 4.32%
just today, and the bad juju seems to be wearing off on other media giants.
Comcast , CBS , Disney are all well into the red today, and even Time Warner
shares are down, despite having record-breaking box office giant — Harry Potter
and the Deathly Hallows 2 –
taking in revenue for the media conglomerate…’
Will
the U.S. Default Before Greece? –
Zacks
Final
top 10 leaders in option volume optionMONSTER
‘…The SPDR S&P 500
Fund (NYSEArca:SPY) was down
just shy of 1 percent as 2.13 million options contracts traded. The S&P 500
Index (TSXV:SPX.V) options
were third on the top 10 volume list with 736,000 options. The CBOE Volatility
Index was up by 7.6 percent on the day with 493,000 contracts.
Bank of America (NYSE:BAC) heads
into earnings down 2.8 percent with 859,000 options changing hands. Apple
(NasdaqGS:AAPL) was fifth on
the list with 587,000 as it finished the day higher by 2.4 percent. Citigroup
(NYSE:C) remained in the 10th spot
with 348,000.
The iShares Russell 2000 Index Fund (NYSEArca:IWM) had 639,000 options traded.
The SPDR Financial Fund (NYSEArca:XLF)
regained ground and finished the day down 1.35 percent with 400,000. The
PowerShares QQQ Trust (NasdaqGM:QQQ)
had 337,000.
The iShares Silver Fund (NYSEArca:SLV)
was up by 3.22 percent. It saw 338,000 options change hands on the day, with
calls outnumbering puts more than 3 to 1
http://www.optionmonster.com/cms/commentary/images/TMfinalvolumes71811.png …’
Gold
& Silver Surge As Debt Woes, China Demand Keep Growing - at Barrons.com
Confirmed:
Federal Reserve Policy is Killing Lending, Employment and the Economy Washington’s Blog | The Federal
Reserve has been intentionally discouraged banks from lending to Main Street –
in a misguided attempt to curb inflation.
“They’re
Going to Cut Back the Bone and They’re Going to Keep the Fat…” Washington’s Blog | They’re Going to
Try to Panic the Population into Acquiescing in a Democratic Party Sellout by
Cutting Back Payments to the People.
Treasury
To Stop Funding Its Market Manipulation Fund To Delay US Bankruptcy Tyler Durden | Tim Geithner was just
forced to resort to the final debt ceiling extension measure.
Gold
And Silver Likely To Go Parabolic Due To ‘Global Shockwaves’ If U.S. Defaults
Zero Hedge | Gold is
some 0.5% lower against the U.S. dollar and most currencies today but is higher
in Australian dollars as the Aussie fell on Australian and global economic
growth concerns.
Obama
nominates consumer finance chief UPI
| Ohio Attorney General Richard Cordray will be nominated to head the new
Consumer Financial Protection Bureau.
Return
of the Gold Standard as world order unravels London Telegraph | The eurozone debt
crisis has spread to the countries that may be too big to save.
Why
Banks Aren’t Lending: The Silent Liquidity Squeeze Truthout | Where did all the jobs go?
We Have Forgotten
What the Ancient Sumerians and Babylonians, the Early Jews and Christians, the
Founding Fathers and Even Napolean Bonaparte Knew About Money Washington’s Blog | Mike “Mish”
Shedlock has repeatedly pointed out that we have reached “peak credit” – and
there will not in our lifetimes be as much credit as we saw from 2000-2008.
Obama’s
Proposal: Increase Debt Extra $26B This Year, $83B Next Year, $2.7T Over Decade
CNS News | In short,
the only budget proposal Obama has put forward this year for the public to
review and analyze puts the federal government on a path to eventual
bankruptcy.
Too
Big To Fail?: 10 Banks Own 77 Percent Of All U.S. Banking Assets Economic Collapse | In 2008, people
were told that the largest banks in the U.S. were “too big to fail.”
6 Steps
by the IMF for a One-World Currency Brandon
Smith | The concept of a global currency is often spoken of
only with an atmosphere of caution.
Parker:
Obama’s not-quite-true story (Washington Post) [ I frankly am quite
surprised that Ms. Parker chooses this of all accounts when there’s a
cornucopia of lies now inseperable from the personified fraud, barrack obama
aka ‘wobama the b’ (for b***s***). Indeed,
wobama’s become a shamelessly insufferable, jive-talking liar that can only now
be at best considered a failed president. Do not feel sorry for him. He rolled
the dice when contrary to campaign promises that got him elected, he continued
the contraindicated, misguided, and prohibitively costly and quite unnecessary
perma-war policies of failed president, predecessor dumbya bush. On top of that
he’s spent more yet, even caving on the bush tax cut extensions though spending
like mad. Too little, too late; he
gambled, he lost. All he had to do was what he said he was going to do. Not
only would that have been correct, but he could not have been faulted if
perchance it was not. I don’t believe
anything he or his teleprompter says. I find his rhetorical speeches,
jive-talking and sense of petulant indignation intolerable. Quite simply,
wobama(s) is nauseating. Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job...
GALLUP
SHOCK: 'REPUBLICAN' BEATS OBAMA BY 8%
DEM
FLASHES RACE CARD IN DEBT DEBATE...[ Oh come on! This jive-talking,
failed ‘president’ has been indulged in every way imaginable and possible (all
those false campaign promises that got him elected, etc.); and people are tired
of his excuses and making excuses for him. He may not have been the first
(clinton has been said even by blacks to have been the first ‘black
president’), but he most assuredly is the last black president, fitting every
negative stereotype imaginable including racist hypocrisy. UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
'Only
THIS president has received the kind attacks and disagreements'...
BOEHNER:
HE HAS NO PLAN...
[ It’s true; ‘wobama the b’ (for b***s***) has no plan whatsoever. Ask Mr.
Teleprompter. ]
KRAUTHAMMER:
CALL THE BLUFF!
McConnell:
Deal Not Possible With Obama … [ I think this shoe fits wobama ...
African-American unemployment at 16% ... (But there’s rationality in this stat
as people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then
there’s the attitude. I truly believe from direct experience that even when
their outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed.) ] ...
Senate
works on framework to raise debt limit As a breakthrough in bipartisan
White House talks begins to look unlikely, Senate leaders work to craft an
alternative strategy. (Washington Post) [ Sounds like a plan! Riiiiight! That
framework thing … for the spending thing … with money they don’t really have on
things they don’t really need, ie., the perma wars (that military inferiority
complex thing), etc.. Republican
leaders clash over debt-limit plan Sen. McConnell warns that default could
“destroy” the GOP brand, but Rep. Cantor rejects his proposal to break the
stalemate over raising the debt limit.
(Washington Post) [McConnell
calls for raising debt limit in steps Senate Republican leader offers to
give President Obama new power to raise debt ceiling as a “backup plan” in case
talks collapse. (Washington Post) [ As if we didn’t ultimately see that coming;
you know, it might affect their paychecks if they didn’t … . Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Bond
investors not scared away As the clock on debt talks runs out, investors
who lend money to the U.S. government are playing it cool. (Washington Post) [
Playing it cool, or playing the fool? I say the latter because some very smart
money thinks quite the contrary regardless of any debt-ceiling deal, etc. … Report:
Pimco's
Gross Sells All US Treasury HoldingsMar 9, 2011 – Bill Gross, who runs the world's
biggest bond fund at Pacific Investment Management ... Report: Pimco's Gross Sells All US Treasury Holdings ... Mohamed A.
El-Erian confirmed the move! Fed
Can Manipulate Markets, But Can't Reverse Economy at Minyanville Toby Connor Jul
11, 2011 ‘I believe that we have begun the topping process of this cyclical
bull market [ in this secular bear market ]. In a healthy market an
intermediate decline is a profit-taking event after a significant leg up. It
should hold well above the prior intermediate bottom. The decline into the June
low was not a profit-taking event. The market had not rallied long enough or
far enough to warrant an intermediate correction and certainly not one that
would test the March lows. The decline in May and June was the first shot
across the bow that something was wrong with the fundamentals driving this
market.
Now let me be clear, I don't recommend anyone sell short the market. All I'm
saying is it's too late to have retirement funds positioned long at this time.
Asset appreciation is the Fed’s stated third mandate. Bernanke is going to
fight the bear tooth and nail. There will be continued interventions into the
markets. The rules will be changed as we go. Anything and everything will be
tried to keep stock and bond markets levitated. That is not the kind of
environment conducive to making consistent gains on the short side. That is the
kind of environment that can and will whipsaw traders to death.
Even in a market free of intervention the topping process is always volatile
and dangerous. But in a market that is being actively managed it is especially
dangerous on the short side. Case in point -- the June bottom was way too early
for a final intermediate bottom.
As I've said before, we should have seen a counter trend bounce to relieve
sentiment extremes followed by another leg down into a more lasting bottom.
Unfortunately that was not allowed to happen. The powers that be manufactured
an explosive rally on the low volume pre-holiday week in an attempt to create a
massive momentum move ahead of the end of QE2 that would be hard to turn
around. Needless to say Bernanke didn't want a repeat of last year when QE1
ended.
http://image.minyanville.com/assets/FCK_Jan2011/Image/July11/1-spx%20new%20bearb.JPG
Click
to enlarge
The Fed can temporarily turn the markets higher but what they cannot do is
reverse the economy. I said when QE1 began that no amount of printing or
stimulus would stop the underlying cancer in the economy. All it would do is
create a brief reprieve which would be followed by an even deeper and more
severe recession once the sugar high wore off.
The simple fact is that we cannot cure a problem of too much borrowing and too
much spending with more borrowing and more spending. We tried this in the `30's
and it caused a 15 year depression. Japan tried it and it led to two lost
decades.
The cure is to bite the bullet and allow the deleveraging process to run its
course. Yes it will be painful. We've put this off for so long that it isn't
just going to be painful it's going to be catastrophic. But the longer we kick
the can down the road the worse the endgame becomes. The only ray of sunshine I
can offer is that if we let the markets work they will complete the
deleveraging process fairly quickly. Within 2 to 3 years the world can be back
on a sustainable path of growth. Continue to fight this and we could be stuck
in an on-again off-again recession for another 20 years with the final end game
collapse so devastating that it will make the Great Depression look like a
picnic.
The last two employment reports are clearly showing that the economy is
slipping back into recession. I suspect by August the employment report could,
and probably will, turn negative. All the manufactured rallies in the world
cannot prop up the stock market if the economy is rolling over into another
recession. They can postpone the inevitable only so long and ultimately will
just make the bear that much more severe.
The Fed's efforts have only extended the topping process, they haven't stopped
it.’
Gloomy
consumers cast dark cloud over economy
Housing
Woes to Cause Recession in 2012, Says Gary Shilling - Peter Gorenstein ‘ Stocks rallied
Wednesday after Federal
Reserve Chairman Ben Bernanke suggested the central bank would go ahead
with another round of stimulus -- aka quantitative easing -- if the economy
continues to slump. In this scenario, the Federal Reserve would once again
purchase assets to keep interest rates low in an attempt to support the economy
and prop up asset prices.
So far, the Fed's
actions have done more good for asset prices like stocks (see: S&P 500
chart since 2009) while doing less to help the economy (see:
June jobs report). U.S. gross domestic product grew just 1.9% in the first
quarter of the year. For 2011 as a whole, the Fed forecasts U.S. GDP growing at
2.7% to 2.9%, which is lower than the plus 3% forecast they made in April.
Today's guest, Gary
Shilling, President of A. Gary Shilling & Co. and author of the Age
of Deleveraging says another recession is brewing -- no matter what action
the Fed takes. "Economic growth here and abroad is slipping, making a 2012
recession a distinct possibility," he writes in his July newsletter. And,
"when you have slow growth it doesn't take much of a shock to throw you in
negative territory."
Shilling says the shock
to trigger the next recess is "another big leg-down in housing." (An
asset class the Fed has not been able to reflate.) As those familiar with
Shilling know, his forecasts are generally bearish. However, in his
defense, Shilling was one of the few economists who correctly predicted the
dangers of the subprime mortgage market and its impact on the broader economy.
The problem with the
real estate market remains excess inventory. Based on Shilling's research,
there are 2 million to 2.5 million excess homes in the country -- a supply that
will take 4-5 years to work-off. The result: Housing prices will fall another
20% and underwater mortgages will balloon from 23% to 40%, he says.
With housing slumping again, Shilling says recession is coming to a town near
you in 2012.’
Europe’s
banks at risk, study finds Regulators find a system dependent on government
support and in need of better preparation. (Washington Post) [ Europe’s banks
at risk … they needed a study to discern that? How ‘bout Europe, the EU, the
euro are at risk; and, we don’t need a study to discern that fact. Foolishly
At The Brink! at Forbes Sy Harding ‘Governments
around the world are struggling with record debt. The debt crisis in Europe and
the struggle in Washington to raise the U.S. debt ceiling are in the news every
day.
As the
original debt crisis in Europe migrated from Greece to Ireland, to Portugal, to
Italy over the last 18 months a commonality became obvious. Opposing government
parties in each country fought over the methods to tackle the problem until
each crisis reached the brink of default on the country’s debt, and confidence
in its economy was in shambles.
Over the
past week it’s been Italy’s turn. The third largest economy in Europe and
deemed to be too large to bail out, Italy’s government has been debating
angrily for months about how best to handle its growing debt crisis. It was
only after the bottom fell out of Greece’s stock and bond markets early this
week that the wrangling Greek parliament panicked and quickly ‘fast-tracked’ an
agreement on austerity measures to at least postpone the crisis for awhile.
For 18
months now global stock, bond, and currency markets have been roiled each time
the European debt crisis popped up again. And each time, euro-zone finance
ministers and politicians took action only when the markets forced them to do
so.
Is the
U.S. now in its Greek-Italian phase? Will it take a U.S. market meltdown to
convince Washington of the seriousness of the situation?
Here we
are, after months of squabbling, with the drop-dead date of August 2 for
raising the debt ceiling only two weeks away. This week both Moody’s and Standard
& Poor’s put U.S. debt on ‘credit watch’ for a possible down-grade from its
coveted triple-A credit rating, due to the lack of progress in Washington. If
it were to take place it would be the first downgrade of U.S. debt since
ratings began in 1917.
The most
likely scenario is a last-minute, cobbled together agreement that neither side
likes, which could be announced at any time, perhaps even by the time you read
this.
However,
the risk of a downgrade is there. Standard & Poor’s puts the odds at 50%.
As
Bloomberg News puts it, “Both the Republicans wanting to replace President
Obama, and Democrats seeking the best way to re-elect him, have emerged as
obstacles to agreement on raising the government’s debt limit. Republican
presidential candidates and Democratic activists alike are using the debate to
sharpen their political messages and appeal to core voters. . . both parties
set in concrete on what they believe their base has to have.”
Damage has
already been done, by creating a global impression that the world’s largest
economy, which professes to still be a shining example for the rest of the
world, is as inept as the most backward banana-republic in dealing with
problems in a rational way.
It’s
particularly frustrating with the economic recovery stalling again, to see
Washington still so selfishly playing party politics, taking the country’s
future so close to the brink of the unknown. Experts around the world are
warning that the consequences of even a brief ‘technical default’ by the U.S.
are dangerously unknown, and at the least could seriously affect confidence in
U.S. debt and the dollar for some time to come.
Meanwhile,
the Federal Reserve and Wall Street are assuring us that the economic slowdown
in the first half of the year was temporary, that the current quarter and
second half will see a robust recovery.
But the
economic reports continue to get worse, and the conditions causing the
worsening numbers continue to deteriorate. Last week’s terrible jobs report for
June should have left no doubt that the slowdown will continue this month. And
the reports released this week confirm that trend. The National Federation of
Independent Businesses reported that its Small Business Confidence Index fell
to 90.8 in June, which the NFIB says is “solidly in recession territory”. On
Friday, the University of Michigan’s closely watched Consumer Sentiment Index
was released and plunged from 71.5 in June to 63.8 this month, its lowest level
in more than two years.
Since
consumer spending accounts for 80% of the economy, that continuing decline in
consumer confidence alone is a scary trend, and it will not be helped by
Washington carrying the country to the brink of the first ever downgrade of its
credit rating.
I’ve been
predicting a significant stock market correction this summer, not a bear
market, but a decline of 18% or so on the S&P 500 that will force the Fed
to come in with some type of QE3 stimulus in the fall, which in turn will
create the typical positive market in the market’s favorable season next winter.
But I
assumed a timely agreement on raising the debt ceiling, and have not factored
in the unknown additional negative if the dangerous foolishness in Washington
continues to the brink or beyond.
Let’s hope
some sense of the reality comes into the situation quickly.
In the
interest of full disclosure, I and my subscribers took our previous profits
from bonds and our downside positions against the stock market when the recent
snap-back rally began, but have repositioned for a resumption of the
correction, with initial positions in the iShares 20-year bond etf, symbol TLT,
the ProShares Short S&P 500 etf, symbol SH, and the ProShares Short Russell
2000 etf, symbol RWM.’
World
Bank chief blames Barack Obama for Doha trade talks deadlock Larry Elliott | Zoellick blamed Obama
for deadlock in global trade talks.
Gold
soars above $1,600 per ounce for first time AFP | The precious metal extended its recent
record-breaking surge which began on Friday.
Were
America’s Assets Looted Years Ago? Washington’s
Blog | Forbes’ Merrill Matthews argues that the multi-trillion
dollar social security trust fund was looted years ago.
National / World
Credit-rating
firms loom over debt debate Despite a behind-the-scenes campaign by the
White House to keep the nation’s major credit-ratings companies from
threatening to downgrade the U.S., the firms have issued default warnings
anyway. (Washington Post) [ Call
Obama’s bluff Republicans should force him to propose real tax reform.
(Washington Post) [ Well, the first part, ‘Call obama’s bluff’; eh, what the
heck, sounds good. But, propose ‘real tax reform’. I’d say, giving him the
benefit of the doubt, Mr. Krauthammer’s somewhat uncharacteristically in
fantasy land. After all, isn’t all of this part of the pre-election year game
of ‘blind men’s bluff’. Kind of like being between the proverbial ‘Iraq and a
hard place’. I mean, where were all these pricipled partisans when it could
have counted; ie., Is a U.S. Default Inevitable? Patrick J. Buchanan | ..bush prepared
to invade Iraq in 2002..likely cost would be $60 billion, said Mitch Daniels of
the OMB..finance the war with Iraqi oil,said Wolfowitz..the cost of the Iraq
War? It has passed $1 trillion..’, etc..
Obama
on high ground But Cantor could still bring him down. (Washington Post) [
High ground? No such thing for ‘wobama the b’ (for b***s***)! He can run, but
can’t hide from his contraindicated (based on reality, broken campaign
promises, and consequences therefrom) record of unequivocal failure. Geithner
says hard times to continue for many [ But not for his frauds on
wall street for whom everyone’s expected to keep sacrificing; and, ultimately
their negative churn-and-earn in real economic terms has to come from some
place, ie., you, yours, main street, etc., and has manifested in the QE’s,
etc.. Well, there you have it. The product of his, wobama et als’ policies;
viz., unhappy days are here again’ or, hard times for most are here to stay,
or, you get the picture, your pain their gain.
] Moody's
puts U.S. ratings on review for downgrade Europe’s
debt crisis threatens Italy Sheer size of the world’s seventh-largest
economy could thwart any international attempt to bail it out. (Washington
Post) [ Yeah, dem’ darn PIIGS. Reminds
me of that joke (I won’t repeat it here except the punch line): ‘That’s black
bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book ‘Goombata:
The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Is
There Anything We Are Still Free To Do Without Government Permission? American Dream | Very, very few
things are still permissible without government approval today.
Mass psychosis in the US Aljazeera.net
Obama
presses for debt deal President opens the door to a less ambitious
compromise to the looming debt-ceiling crisis. (Washington Post) [ Less
ambitious? As in ‘anything at all’ … as in something other than ‘nothing to
write home about’. Call
Obama’s bluff Republicans should force him to propose real tax reform.
(Washington Post) [ Well, the first part, ‘Call obama’s bluff’; eh, what the
heck, sounds good. But, propose ‘real tax reform’. I’d say, giving him the
benefit of the doubt, Mr. Krauthammer’s somewhat uncharacteristically in
fantasy land. After all, isn’t all of this part of the pre-election year game
of ‘blind men’s bluff’. Kind of like being between the proverbial ‘Iraq and a
hard place’. I mean, where were all these pricipled partisans when it could
have counted; ie., Is a U.S. Default Inevitable? Patrick J. Buchanan | ..bush prepared
to invade Iraq in 2002..likely cost would be $60 billion, said Mitch Daniels of
the OMB..finance the war with Iraqi oil,said Wolfowitz..the cost of the Iraq
War? It has passed $1 trillion..’, etc..
Obama
on high ground But Cantor could still bring him down. (Washington Post) [
High ground? No such thing for ‘wobama the b’ (for b***s***)! He can run, but
can’t hide from his contraindicated (based on reality, broken campaign
promises, and consequences therefrom) record of unequivocal failure. Geithner
says hard times to continue for many [ But not for his frauds on
wall street for whom everyone’s expected to keep sacrificing; and, ultimately
their negative churn-and-earn in real economic terms has to come from some
place, ie., you, yours, main street, etc., and has manifested in the QE’s,
etc.. Well, there you have it. The product of his, wobama et als’ policies;
viz., unhappy days are here again’ or, hard times for most are here to stay,
or, you get the picture, your pain their gain.
] Moody's
puts U.S. ratings on review for downgrade Europe’s
debt crisis threatens Italy Sheer size of the world’s seventh-largest
economy could thwart any international attempt to bail it out. (Washington
Post) [ Yeah, dem’ darn PIIGS. Reminds
me of that joke (I won’t repeat it here except the punch line): ‘That’s black
bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new jersey,
new york, virginia, connecticut, california) carves out no exception for the
prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
STEVE WYNN UNLOADS ON OBAMA... (via Drudgereport) ‘…here's the crux of it:
I believe
in Las Vegas. I think its best days are ahead of it. But I'm afraid to do
anything in the current political environment in the United States. You watch
television and see what's going on on this debt ceiling issue. And what I consider to be a total lack of
leadership from the President and nothing's going to get fixed until the
President himself steps up and wrangles both parties in Congress. But everybody
is so political, so focused on holding their job for the next year that the
discussion in Washington is nauseating.
And I'm
saying it bluntly, that this administration is the greatest wet blanket to
business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3
hours giving you examples of all of us in this market place that are frightened
to death about all the new regulations, our healthcare costs escalate,
regulations coming from left and right. A President that seems, that keeps
using that word redistribution. Well, my customers and the companies that provide the vitality for
the hospitality and restaurant industry, in the United States of America, they
are frightened of this administration.And it makes you slow
down and not invest your money. Everybody complains about how much money is on
the side in America.
You bet
and until we change the tempo and the conversation from Washington, it's not
going to change. And those of us who have business opportunities and the
capital to do it are going to sit in fear of the President. And a lot of people
don't want to say that. They'll say, God, don't be attacking Obama. Well, this
is Obama's deal and it's Obama that's responsible for this fear in America.
The guy keeps making
speeches about redistribution and maybe we ought to do something to businesses
that don't invest, their holding too much money. We haven't heard that kind of
talk except from pure socialists. Everybody's afraid of the government and
there's no need soft peddling it, it's the truth. It is the truth. And that's
true of Democratic businessman and Republican businessman, and I am a
Democratic businessman and I support Harry Reid. I support Democrats and
Republicans. And I'm telling you that the business community in this company is
frightened to death of the weird political philosophy of the President of the
United States. And until he's gone, everybody's going to be sitting on their
thumbs.
Later in the call, he
rants again about how hard it is to visit America (due to Homeland Security and
visa issues), and what that means for Chinese visitors.
Read more: http://www.businessinsider.com/wynn-ceo-steve-wynn-conference-call-transcript-obama-2011-7#ixzz1SVOWlB17’
‘Carmageddon’
starts in L.A. A 10-mile stretch of
one of the nation’s busiest freeways is being closed for 53-hour construction.
(Washington Post) [ While it is true there is so much news of great consequence
worldwide, it seems at first blush somewhat remiss of me to be commenting on
what I deem to be a ‘non-story’. Yet, it is the very pervasive prominence of
this ‘non-story’ that compels me to comment here at the risk of appearing to
have fallen prey to this almost non-newsworthy obsession dubbed ‘carmageddon’.
Regionally based and presumably based on demographics / viewership this falls
within the bailiwick of that other indigenous ‘news-preoccupation’ which I’ve
never seen beyond the LA market; viz., the innumerable car chases which I have
literally seen occupying an entire newcast (30 / 60 minutes) to the exclusion
of all other news. I’m totally nonplused and at a loss to explain this which I
hope is still a very local phenomenon that defies rational explanation. IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner …
thanks for the heads up tiny tim ‘God
bless us everyone’! … As if we didn’t
already know / feel it! …Stock futures, dollar falls; Moody’s warns U.S. Wed, 13 Jul 2011 Carla Mozee
(MarketWatch) — ‘U.S. stock index futures and the U.S. dollar fell Wednesday
evening after a ratings agency warned that it may cut its rating on U.S.
government debt…’
S&P threatens
downgrade of U.S. financial companies
Top 3
Reasons Markets Were Up Despite Continuing Debt Ceiling Impasse July 15, 2011
Wall St. Cheat Sheet ‘Markets closed up on Wall Street today: Dow
+0.35% , S&P +0.56% , Nasdaq +0.98% , Oil +1.82% , Gold +0.31% .
On the commodities
front, Oil made a reversal, climbing to $97.43, while precious metals
gained slightly, with Gold up to $1,594.20 an ounce and Silver up 1.33% to
$39.21 an ounce.
Don’t Miss: Why
Are Gold Prices Pushing Record Highs?
Today’s markets were up
because:
1) M&A activity.
With so much negative economic news — declining
consumer sentiment, Standard & Poor’s putting the U.S. on downgrade
watch, and the continuing impasse of debt ceiling talks — markets could
have easily been down again today. But in a rare feat, they were bolstered by
individual sectors and stocks. Clorox and Petrohawk deals
were responsible for huge NYSE gains.
2) Euro-bank stress tests.
The results of the stress tests for 90 European banks had investors around the
world on the edge of their seats, but ultimately the results of the test held
no real surprises and could have definitely been worse. Only 8 of the banks
failed, though another 16 narrowly passed. The eight failing banks had a
combined shortfall of 2.5 billion euros in capital under the European Banking
Authority’s worst-case economic scenario. Last year’s 7 failing banks had a combined shortfall of 3.5 billion
euros. Not only did this year’s failing banks fare better than last year’s, but
there were significantly fewer than expected. Estimates had the number near 20.
So while the results of the stress test might not be considered good news, they
most certainly aren’t bad, especially considering the failing banks are right
where one would expect them to be: 5 in Spain, 2 in Greece, and 1 in Austria.
3) Google. The
so-much-more-than-a-search-engine’s new social networking tool, Google+, has
already gained over 10 millionusers in just 2 weeks and is only one of many
reasons why Google’s latest earnings report throttled the company’s pared down
expectations. (See: “Here’s
Why Google+ Means Serious Money“) Net
income rose to $2.5 billion versus $1.84 billion in the same quarter a year
earlier, a 36.1% increase. The success of Android, which accounted for 40% of
smartphone sales this year is another reason for the great earnings report that
pushed up the company’s stock 13.34%, trading on a volume of 12.27 million
today where the 30-day average is only 3.01%. Google’s good fortune alone
comprised a good share of the Nasdaq’s gains today in an otherwise shaky day of
trading.’
See the film the “End the Fed” crowd holds
sancrosanct: The Money
Masters http://www.themoneymasters.com
Return
of the Gold Standard as world order unravels London Telegraph | The eurozone debt
crisis has spread to the countries that may be too big to save.
Why
Banks Aren’t Lending: The Silent Liquidity Squeeze Truthout | Where did all the jobs go?
Inflation On the Rise Reuters | High inflation, driven by
strong energy and food prices, undermined economic activity in first quarter.
Gold
And Silver Likely To Go Parabolic Due To ‘Global Shockwaves’ If U.S. Defaults
Zero Hedge | Gold is
some 0.5% lower against the U.S. dollar and most currencies today but is higher
in Australian dollars as the Aussie fell on Australian and global economic
growth concerns.
Manufacturing
Gauge Slumps as Core Inflation Gains Reuters
| Inflation at highest pace in three years.
US
Default Risk Jumps To Highest Since February 2010 On Debt Ceiling Worries Tyler Durden | So much for the market
“completely ignoring” the total chaos and complete cacophony out of the
tragicomic DC soap opera.
The Fed, the
debt, Ron Paul and gold RT |
President Obama and Vice President Biden have just had yet another meeting with
top lawmakers hoping to reach an agreement about the debt ceiling.
Banks,
investors show no default leeway Obama administration officials have been
privately exploring with major banks and foreign investors whether the
government could devise a way to avoid a severe disruption in financial markets
if the federal debt ceiling is not raised. But the message back from the market
has been discouraging. (Washington Post) [ Oh yeah … major banks, foreign
investors, the so-called ‘market’, if you will, albeit manipulated; toward what
end? Oh riiiiight … the end. The point is, and this is an understatement,
they’ve been far less than brilliant. But they harken back to that ‘Gecko echo’
of ‘greed is good’ as their mantra and sine a quo non for their practiced
‘capitalism’; which, of course, differs in no way from the same creed of greed
practiced by the multitude of common criminals in pervasively corrupt america
particularly, and throughout the world generally. IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim … thanks
for the heads up tiny tim ‘God bless us
everyone’! … As if we didn’t already know
it / feel it! ]The frauds on wall street
et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! STOCKS
BARELY FALL AFTER MOUNTAIN OF BAD NEWS: Here's What You Need To Know Business Insider Weisenthal
Economic scenario far worse than expected (and in this pre-election year the
reality is still far worse than reported), yet stocks still rallied off lows to
keep suckers sucked in to this fraudulent market Click
here to see the new scariest jobs chart ever
http://www.businessinsider.com/details-from-the-awful-june-june-jobs-report-2011-7 > See all 12
charts from St Louis Fed: http://static8.businessinsider.com/image/4e1712edcadcbba25f030000-595-356/chart.jpg Stocks rally on
jersey-based, former Lautenberg ADP still paltry, better than expected 157,000
private jobs number and one’s got to wonder ‘who got paid’, one way or another,
for the fudge. Then there’s the horrific ‘american tech’. Retail? The defacto
bankrupt government’s probably buying with money they don’t have, at best; and,
as with other data in these desperate pre-election-year times, plain false,
falsified, fudged, spun. Previous day, all bad news … from eurozone (protugal,
et als), to asia zone (china worse than expected), to america (where to begin,
from defacto bankruptcy, to debased currency, to insurmountable debt / dervice,
to pervasive corruption, etc.) … stocks rally on fraud and b***s*** alone. Previous, higher oil price rally, along with Netflix
‘technology rally’ … Don’t make me laugh! … Total desperation on wall street
and in Washington … How pathetic! … Jobless claims at 428,000 much worse than expected;
and, don’t forget, these are desperate ‘pre-election times’ when regardless of
factual reality (ie., fake reports, data, as, ie., ‘wobama hometown’ corrupt
chicago ISM is up as even their youth gangs are showing increased criminal
activity which probably accounts for the rise; ie., meth, crack labs, etc.?)
data / reports are fudged / faked / spun. Foreclosure,
distressed sales up, at least on paper with contracts signed, so no surprise
nor reason to cheer here, as markets worldwide jump on the american crazy train
for a short-lived bounce as all problems remain. This
is the same month end (and quarter, half) spurt / window dressing based on
b***s*** alone to keep the suckers suckered and an especially great time to
sell / take profits since there’s much worse to come! Talk about milking the
greek crisis for the umpteenth time a so-called solution (and there are loads
of greecy scenarios worldwide … I don’t
think so and neither does Schaeffer who says: ‘…even once such a package is passed it only buys
time. Actually fixing the fiscal condition of Greece is not something that can
be solved in a matter of weeks, or even months…‘ but
it’s great press for the churn and earn and to keep the suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into.
This is an especially great opportunity to sell / take profits while you still
can since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says Market
Crash 6/30/11?Technical indicators suggest market collapse may begin by June
30th Dennis Slothower is one of the world’s leading technical analysts. He’s
one of the few advisors whose readers completely avoided ALL losses during the
disaster that was 2008. And now he’s issuing another dire warning. His
technical indicators suggest that the market manipulation we’ve seen over the
last several months is about to come to an end…and that means thousands of
investors are about to get clobbered. This correction could begin as soon
as June 30th– so it’s important that you take
action now to prepare yourself. StealthStocksOnline.com STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell
Bernanke
rejects debt-plan alternatives Fed chief urges Congress to come up with a
plan or risk a making “self-inflicted wound” to the economy. (Washington Post) [ And you really have to
admit, ‘no-recession-helicopter-ben-bs-bernanke’ knows a lot about
self-inflicted wounds. Sounds like a lot of self-serving posturing when you
take into account his ‘contribution’ to this egregious but not typical
Washington / american debacle. Bernanke:
Fed ‘prepared to respond’ The chairman raised the possibility of resuming
efforts to pump money into the economy. (Washington Post) [ The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! Think about this: short-lived Pavlov dog rally (the
conditioned stimulus) on hopes for more welfare for wall street and some good
results in communist China. This despite the previous failure of QE for
everyone but the frauds on wall street; and ultimately, though circumlocuted,
at great taxpayer expense. Titans of capitalism? How ‘bout the biggest
unprosecuted frauds in the world. Preposterous!
Fed
worried about unemployment (AP) ‘Fed officials at their last meeting
expressed concerns that the weakening job market might hold back the economic
recovery’. Duh! Ya think! They’ve done such a wonderful job ameliorating such
concern: A
Perfect Financial Storm? at Forbes
Bert Dohmen ‘Surprise,
surprise! The bulls were shocked by the employment report on July 8.
Suddenly, all the talk of the past two weeks about much stronger economic
growth was put on ice and the two words, “double dip,” which was the headline
of my Wellington Letter two
months ago, are back … Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile
‘maestro’ greenspan and failed miserably except for the frauds on wall street
who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone
else’s expense including main street. ]
National / World
NATO jets
violate Pakistani airspace Press TV
| Several NATO fighter jets have violated Pakistani airspace, making low
flights into the country’s troubled tribal northwestern regions.
France's
Bruni confirms pregnant, won't reveal gender (or paternity) or
Senate
works on framework to raise debt limit As a breakthrough in bipartisan
White House talks begins to look unlikely, Senate leaders work to craft an
alternative strategy.
(Washington
Post) [ Sounds like a plan! Riiiiight! That framework thing … for the spending
thing … with money they don’t really have on things they don’t really need,
ie., the perma wars (that military inferiority complex thing), etc.. Republican
leaders clash over debt-limit plan Sen. McConnell warns that default could
“destroy” the GOP brand, but Rep. Cantor rejects his proposal to break the
stalemate over raising the debt limit.
(Washington Post) [McConnell
calls for raising debt limit in steps Senate Republican leader offers to
give President Obama new power to raise debt ceiling as a “backup plan” in case
talks collapse. (Washington Post) [ As if we didn’t ultimately see that coming;
you know, it might affect their paychecks if they didn’t … . Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious freedom,
freedom generally did they come to these shores. A rare exception to the influx
of immigrants to this young nation who turned out to be more a virus to the
indigenous peoples of this land than what could have been expected from those
of noble calling. Indeed, in evolutionary terms, it’s doubtful that those so
positioned abroad would have represented a positive addition to the gene pool
which, borrowing from an insurance term, viz., adverse selection, springs forth
the notion of inevitability to the genocide of the indigenous populations while
guaranteeing the decline we see throughout this foundering nation. The effects
of these negative predispositions toward inherent criminality is certainly
being felt globally as well as domestically and has little to recommend it. My
own direct experience with the region(s) (particularly new jersey, new york,
virginia, connecticut, california) carves out no exception for the prevalence
of the worst of human nature; which is now collectively and pervasively
americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Ahmed
Wali Karzai killer was U.S. ally EXCLUSIVE | Afghan officials explore signs
that the Taliban convinced police commander to switch sides. (Washington Post)
[ For emphasis, let me reiterate at the outset that, ‘Whenever the government /
cia is involved as here, you’re lucky to get even a fraction of what actually
went down and why’. ‘If
they can kill Ahmed Wali ...’ After the Afghan president’s powerful
half-brother death, leaders are re-examining their inner circles. (Washington
Post) [ Oh come on! Let’s not over-react here. After all, he was heavily involved
in the u.s. government / military protected illegal heroin trade; and, with the
mentally challenged cia, of all organizations, as his partners among others in
crime. Kind of like ‘Godfather 3’ (masterfully by Francis Ford Coppola,
starring Al Pacino) where all these psychotic italian mental cases are
‘whacking’ each other based on greed, paranoia, etc.. Whenever the government /
cia is involved as here, you’re lucky to get even a fraction of what actually
went down and why. Killing
of Ahmed Karzai a setback for U.S. mission in Afghanistan American
officials say Afghan president’s half-brother had evolved from strongman to
influential ally. (Washington Post) [ Yeah! This is a biggy ‘cause he’s done
such a great job helping with america’s surging heroin production,
distribution, trade in Afghanistan; you know, one of pervasively corrupt,
defacto bankrupt america’s raison d’etres for being in Afghanistan. Yet, this
is even a bigger plus for the Taliban who had all but eradicated the opium
trade and the attendant corruption in Afghanistan. Afghan CIA Drug Kingpin Shot Dead by Own Bodyguard Kurt Nimmo | ‘CIA has been in the
drug running business since the 1950s. Kurt Nimmo Infowars.com July 12, 2011
Ahmad Wali Karzai, the half brother of Afghan president Hamid
Karzai, was assassinated by one of his own bodyguards Tuesday morning. Friend
and trusted head of security Sardar Mohammed shot him in the head and chest.
Mohammed was in turn shot and killed by fellow bodyguards. The Taliban claimed
responsibility for the assassination.
In 2009 it was reported
that Karzai was a major player in the Afghan opium trade. According to reports,
other members of the Karzai family are involved
“head-to-heels” in the drug business.
Ahmad Wali Karzai also worked for the CIA.
“The CIA has been
complicit in the global drug trade for years,” a former intelligence official told Newsmax in 2002. “The CIA
did almost the identical thing during the Vietnam War, which had catastrophic
consequences – the increase in the heroin trade in the USA beginning in the
1970s is directly attributable to the CIA.”
According to a report in
Presscore, the
former Unocal employee Hamid Karzai and his family are heavily
involved in the CIA’s drug business.
“85 per cent of all
drugs produced in Afghanistan is being shipped aboard US aircraft. Foreign
diplomats have stated that the United States military buy drugs from local
Afghan drug lords who deal with field commanders overseeing eradication of drug
production,” states the report. The CIA provides protection for the enterprise.
The CIA has been in the
drug running business since the 1950s. In Burma,
Vietnam, Laos, Latin America, and Afghanistan, the CIA — also known as the
“Cocaine Import Agency” — has remained at the forefront of the international
illicit drug trade. The journalist Gary Webb and the San Jose Mercury News tied
the CIA and the Contras to a large crack cocaine ring in Los Angeles. Webb paid
with his life for revealing this information to the public.
Before the U.S. invaded
Afghanistan, the Taliban had imposed a ban on opium production. This resulted
in opium production collapsing by more than 90 per cent. It was the U.S.
supported Northern Alliance that came to the rescue and began protecting the
production of raw opium.
“CIA-supported
Mujahedeen rebels [who in 2001 were part of the Northern Alliance] engaged
heavily in drug trafficking while fighting against the Soviet-supported
government and its plans to reform the very backward Afghan society,” William Blum
writes in The Real Drug Lords.
In a Fox News report
aired in April of 2010, correspondent Geraldo Rivera interviewed a solder in Afghanistan who
admitted the U.S. allows the opium trade to flourish.
The corporate media has
provided propaganda for the CIA’s drug business. “Curbing the Taliban’s
multimillion dollar opium poppy business was a major goal of a military
operation to seize this former insurgent stronghold,” the Associated Press
reported in March of 2010. “If they destroy the crops and curb the trade, they
lose the support of the population — a problem for which they have no easy
solution.”
IN FACT, AS PREVIOUSLY
NOTED, THE TALIBAN BANNED OPIUM PRODUCTION AND ALMOST ELIMINATED THE
CROP A DECADE AGO.’
Panetta
shifts the viewpoint on U.S.-led warsThe new Defense secretary makes it
clear he wants limits -- on military commanders, on allies' expectations and on
the U.S. defense budget -- to get off a permanent war footing. (LAT)[Sure could
have fooled us with his recent rhetoric, kind of like his ‘boss’,failed
president ‘wobama the b’ (for b***s***) Drudgereport: OBAMA:
LET'S STAY IN IRAQ...
FLASHBACK:
'I intend to remove all U.S. troops from Iraq by the end of 2011'... REPORT:
U.S. Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement
Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA) Hasn’t Panetta’s nose grown larger. Do you think he’s
related to puppet-master Geppetto and his line of Pinnochio puppets; Mr.
Pinnochietta.[Boehner
endorses Obama’s call for far-reaching plan on debt Pelosi:
‘We are not Greece’ (but greecy Italy Italians voice concern over Italian
debt crisis scenario (WP) [ Whew! Close call! Nothing to worry about now that
wobama’s got a boehner;so not to be so hard on them;if pelosi says it,it must
be true;Not!Pervasively corrupt,defacto bankrupt america,they,she look pretty
greecey. After all,if the same’s wobama’s ‘far-reaching plan on debt’, we know
‘wobama the b’ is total b***s*** which means like Greecey PIIGS they’ll be back
to the trough for more … slop … py! Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Call
Obama’s bluff Republicans should force him to propose real tax reform. (Washington
Post) [ Well, the first part, ‘Call obama’s bluff’; eh, what the heck, sounds
good. But, propose ‘real tax reform’. I’d say, giving him the benefit of the
doubt, Mr. Krauthammer’s somewhat uncharacteristically in fantasy land. After
all, isn’t all of this part of the pre-election year game of ‘blind men’s
bluff’. Kind of like being between the proverbial ‘Iraq and a hard place’. I
mean, where were all these pricipled partisans when it could have counted; ie.,
Is a U.S. Default Inevitable? Patrick J. Buchanan | ..bush prepared
to invade Iraq in 2002..likely cost would be $60 billion, said Mitch Daniels of
the OMB..finance the war with Iraqi oil,said Wolfowitz..the cost of the Iraq
War? It has passed $1 trillion..’, etc..
Obama
on high ground But Cantor could still bring him down. (Washington Post) [
High ground? No such thing for ‘wobama the b’ (for b***s***)! He can run, but
can’t hide from his contraindicated (based on reality, broken campaign
promises, and consequences therefrom) record of unequivocal failure. Geithner
says hard times to continue for many [ But not for his frauds on
wall street for whom everyone’s expected to keep sacrificing; and, ultimately
their negative churn-and-earn in real economic terms has to come from some
place, ie., you, yours, main street, etc., and has manifested in the QE’s,
etc.. Well, there you have it. The product of his, wobama et als’ policies;
viz., unhappy days are here again’ or, hard times for most are here to stay,
or, you get the picture, your pain their gain.
] Moody's
puts U.S. ratings on review for downgrade Europe’s
debt crisis threatens Italy Sheer size of the world’s seventh-largest
economy could thwart any international attempt to bail it out. (Washington
Post) [ Yeah, dem’ darn PIIGS. Reminds
me of that joke (I won’t repeat it here except the punch line): ‘That’s black
bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and you
have to laugh) is to see Conservative pundits get on TV and talk about how we
need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
15 Examples That Show Many Americans Have Become So
Desperate That They Will Do Just About Anything For Money |
More Americans than ever are desperate for money and many of them will do just
about anything to get it. The
Economic Collapse
July 14, 2011 ‘More Americans
than ever are desperate for money and many of them will do just about anything
to get it. The crumbling U.S. economy has pushed millions of ordinary
Americans to the brink of utter desperation. When it comes time to choose
between being able to survive or breaking the law, many people are choosing to
break the law. These days it seems like Americans will do just about
anything for money. All over the country, there are areas where just
about anything that is not bolted down is being stolen. A lot of people
have resorted to making money however they can – selling drugs, selling their
bodies, shoplifting, invading homes, taking bribes, running credit card scams
and even stealing from their own family members. You will have a hard time
believing some of the things that you are about to read below. When
people have their backs pushed up against the wall, often they find that they
are willing to do things that they never imagined that they would do.
Things are getting crazy out there on the streets of America, and as the
economy continues to decline things are going to get a lot crazier.
The following are 15
examples that show many Americans have become so desperate that they will do
just about anything for money….
#1 In Utah, one unemployed 28 year old man is offering
to be “human prey” for hunters for the bargain price
of $10,000. For an additional $2,000, he will let people hunt him
down while he is running around naked.
#2 The Huffington Post is
reporting that there has been an epidemic of air conditioning thefts all
over the United States….
Across the country, in states like Illinois, Texas, Arizona,
Georgia and Florida, there have been reports of thieves stealing unsecured air
conditioning units weighing as much as 125 pounds.
#3 In Corpus Christi, Texas thieves have actually been
breaking into funeral homes in order to steal
the embalming fluid.
#4 Even police officers are committing desperate acts
these days. Just check out what one police officer in Chicago is charged with doing….
A Chicago Police officer stole $50,000 from his ailing elderly
father to pay off his bills and gambling debts and unsuccessfully attempted to
swipe his dad’s retirement savings by impersonating him
#5 Nothing is off limits to thieves these days.
Criminals recently broke into a southwest Atlanta beauty supply store and took
off with $30,000 in hair extensions.
#6 In another area of Atlanta,
thieves have been breaking down walls and busting bathroom fixtures with
sledgehammers in order to get their hands on copper, brass and steel….
Kids in two Atlanta communities won’t have their neighborhood
pools to help beat the summer heat, at least for now. Thieves used what is
believed to be sledge hammers to bust walls and break fixtures in bathrooms at
Adams and South Bend parks to steal copper, brass and steel.
#7 One grandmother in Florida has been accused of
trying to sell her newborn grandson for $75,000.
#8 In Antioch, California a total of
approximately 300 power poles were recently
knocked down by thieves and stripped of their copper wiring.
#9 In Minnesota recently, a mob of teen girls brutally
pummeled a mother and her two daughters until they were black
and blue. Apparently the mob of teen girls was enraged over a pair of
missing sunglasses.
#10 In Asheville, North Carolina thieves recently took
off with 4 metal tables and
16 metal chairs that were sitting outside a pizzeria.
#11 In Florida, thieves have actually been
stealing storm drain covers.
#12 In Oregon, thieves recently broke into a Salvation
Army community center and stole 3 large air conditioning units.
Now all the people that come to that facility for help and for community
programs this summer will be absolutely sweltering.
#13 In the Cleveland area, two young boys that had set
up a lemonade standwere robbed in broad
daylight. The crooks got away with approximately 12 dollars.
#14 In Oklahoma, thieves recently broke into a church
and stole “arts
and crafts supplies meant to help teach bible stories to children“.
#15 A 59 year old man from North Carolina named Richard
James Verone was so desperate for money that he actually robbed a bank and got caught on
purpose so that he could be put in prison and be given free health care.
One day Verone walked
into an RBC Bank in North Carolina, handed a clerk a note demanding exactly one
dollar and sat down and waited for the police to arrive and arrest him.
Verone has a growth on
his chest and two ruptured disks but he does not have any health
insurance. He is hoping that in prison he will get the medical treatment
that he needs.
As society continues to
unravel, prison is going to look like an appealing option for more and more
people.
At least in prison you
get fed, you have a roof over your head and they will take care of your medical
needs.
For a whole lot of
Americans, that would be a major step up.
Have you noticed that
the thin veneer of civilization that we all take for granted is starting to
disappear?
America is becoming a
cold, cruel place and lawlessness is everywhere.
For many more signs that
our society is starting to crumble, please see these two articles….
*”18 Signs The Collapse
Of Society Is Accelerating”
*”12 More Signs That Society Is
Collapsing”
For ages, Americans have
looked down on the crime and the depravity that goes on in other areas of the
world.
Well, now America has
all of the crime and depravity it can handle and it is going to get a lot worse
as millions of formerly middle class Americansdescend into poverty.
A regular commenter on
my website who identifies himself as “El Pollo de Oro” recently described the
kind of chaos that he believes is coming to the streets of America….
I live in Philadelphia, a city that used to have a ton of
blue-collar manufacturing jobs as well as a great deal of white-collar
employment, but the blue-collar manufacturing jobs have disappeared–and on the
white-collar side, a college degree isn’t necessarily the ticket to prosperity
it once was. Philly has its share of nasty, dangerous ghetto areas as well as ritzy,
upscale areas like Rittenhouse Square. But then, there are parts of Mexico City
that look like Beverly Hills except that the signs are en español. A minority
of Chilangos are filthy rich, which is what you expect in a Third World
country: an uber-rich minority and a poor majority. And when The Banana
Republic of America (formerly the USA) signed on for globalism and ignored Ross
Perot’s warning, it opted to become a Third World country—which means that you
can kiss the American middle class goodbye.
But there will be some growth industries in The Banana Republic
of America: kidnapping, drug smuggling, murder for hire, carjacking, armed
robbery. And if you want a taste of what life will be like in American cities
in the future, just spend a few weeks in Guatemala City, Johannesburg or
Caracas—all of which have the type of horrible crime rates that BRA cities can
look forward to in the future. Desperate people do desperate things, and
hardcore desperation will be in the norm in the BRA. It won’t be fun (unless,
of course, being robbed at gunpoint in broad daylight is one’s idea of a good
time).
Welcome to life in a rotting, decaying Third World hellhole.
Welcome to the collapse of the Roman Empire. Welcome to life in The Banana
Republic of America, formerly the USA.
America is
changing. The safe, secure environment that we all used to take for
granted is dying. The number of truly desperate people rises by the day,
and many of those desperate people are willing to do just about anything for
money.
The United States used
to have a thriving middle class, but our economic system has been so
manipulated over the decades that now almost all of the economic rewards go to
the very top of the food chain.
25 years ago, the
wealthiest 12 percent of all Americans controlled 33 percent of all the
wealth. Today, the wealthiest 1 percent of all Americans control 40 percent of all the
wealth.
In the United States
today, we are actually witnessing the death of the middle class.
Our jobs have been shipped overseas,
the banks have enslaved us to debt, the government keeps finding more ways to
tax us and the Federal Reserve keeps debasing our currency.
Everywhere you go,
despair is in the air. According to a brand new Reuters/Ipsos poll, 63 percent of Americans believe that the
nation is on the wrong track.
Fortunately, many
Americans are responding to these signs of trouble by preparing.
One local Oklahoma newspaper
recently did an article that profiled a few of the growing number of Americans
that are preparing for hard times….
Rod and Lauretta Smith estimate they could survive a year
without going to the grocery store.
A large garden on their 5-acre property in south Tulsa produces
hundreds of quarts of canned and frozen beans, tomatoes and other vegetables.
Chickens provide eggs.
The Smiths are among a small but growing number of people
stocking up on food to become more self-reliant in a time marked by natural
disasters and economic uncertainty.
The truth is that all of
us should try to become less dependent on the system. The Democrats, the
Republicans, the Federal Reserve and the big corporations are not there to help
you. They are not going to come riding to the rescue if you lose your job
and your home.
We all need to do what
we can to become more independent and to prepare ourselves and our families for
the incredibly difficult economic times that are inevitably coming. Those
that have faith that their jobs will always be there or that the government
will always take care of them will be deeply disappointed.
The system is dying and
society is coming apart.
The only rational thing
to do is to prepare for what is coming.’
Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job...
GALLUP
SHOCK: 'REPUBLICAN' BEATS OBAMA BY 8%
DEM
FLASHES RACE CARD IN DEBT DEBATE...[ Oh come on! This jive-talking,
failed ‘president’ has been indulged in every way imaginable and possible (all
those false campaign promises that got him elected, etc.); and people are tired
of his excuses and making excuses for him. He may not have been the first
(clinton has been said even by blacks to have been the first ‘black president’),
but he most assuredly is the last black president, fitting every negative
stereotype imaginable including racist hypocrisy. UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud )THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
'Only
THIS president has received the kind attacks and disagreements'...
BOEHNER:
HE HAS NO PLAN...
[ It’s true; ‘wobama the b’ (for b***s***) has no plan whatsoever. Ask Mr.
Teleprompter. ]
KRAUTHAMMER:
CALL THE BLUFF!
Feds
Issue Warning After 4 Mailboxes Lifted From Post Offices...
O'DRAMA...
'ENOUGH
IS ENOUGH'...
WALKS
OUT OF WHITE HOUSE MEETING...
'DON'T
CALL MY BLUFF'...
REID
CALLS CANTOR NAMES...
CAMP
DAVID SUMMIT?
BOEHNER:
NO NEED...
MCCONNELL:
GOP won't be 'tax collectors for Obama economy'...
Hometown
congressman tells Obama to 'quit lying'...
PELOSI:
'Almost too busy' to continue debt talks...
GEITHNER:
Out of time...
Cash-Strapped
NYC Fines Man $2,000 -- For Not Watering Beehive?
STUDY:
Black men survive longer in prison than out...
Man
falls into Maui blow hole, disappears...
PRESSURE: MOODY'S PUTS USA ON DOWNGRADE WATCH
Boehner
Rails on Obama: 'Like dealing with Jell-O'...
WH
Cracks Down on Press: No Yelling at Obama Today...
President
'chafes' at unscripted questions...
BERNANKE
BARKS BACK AT PAUL...
Fed May
Launch New Round of Stimulus...
DOLLAR
TUMBLES...
Putin
calls Feds 'hooligans'...
Gold
hits new high...
DEBT
TALKS BREAK DOWN...
McConnell:
Deal Not Possible With Obama … [ I think this shoe fits wobama ...
African-American unemployment at 16% ... (But there’s rationality in this stat
as people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then
there’s the attitude. I truly believe from direct experience that even when
their outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed.) ] ...
'Backup
plan'...
OBAMA
THREATENS TO HOLD UP SOCIAL SECURITY CHECKS
RUBIO:
Every Aspect of Life in America is Worse Since Obama Took Over...
GE
Immelt lectures biz owners: 'Stop complaining about government'...
FLASHBACK:
(GE )Company Paid NO TAXES Last Year...
OBAMA:
LET'S STAY IN IRAQ...
FLASHBACK:
'I intend to remove all U.S. troops from Iraq by the end of 2011'...
KARZAI'S
BROTHER ASSASSINATED IN KANDAHAR...
Gunned
down in home by bodyguard...
'Huge
boost for Taliban'...
Obama
'far apart' from Republicans on debt deal...
Boehner:
Debt Deal Not Imminent...
TORMENT
@ 9.2%
State
and local governments bleeding jobs...
Top
Obama adviser says unemployment won't be key in '12 … (riiiiight!…talk about
wishful thinking and self-delusion)...
BUCHANAN:
DC Establishment 'in Panic'...
S&P
WARNS GREECE OF DEFAULT -- EVEN WITH BAILOUT!
'Impossible
knot'...
SANTELLI:
'The answer is easy: Spend less!'
Italy's
borrowing costs soar...
Berlusconi appeals for national unity and 'sacrifices'...
New
Fears on Italy Jolt Europe...
Soros:
Europeans now need 'plan B'...
Mob
Of Teenage Girls Attacks Minneapolis Mom, 4-Year-Old Daughter...
Air
Conditioner Thieves Hit 7 Churches In Texas...
THEY'RE
HERE! [ Uh! That ‘nausea’ factor; though not nearly of the magnitude
of america’s unctuous duo, ‘wobama the b’ (for b***s***) and michelle his belle
(see infra). After all, the cloyingly cutesy couple from across the pond is
hardly in a position to do damage as are the wobamas. Yet, one must ask: just
what exactly are they? Mascots? Non-emmissary emissaries? Indeed, in this
economy it’s quite embarrassing for members of the so-called commonwealth,
struggling economically and otherwise, england/uk being no exception (royals
wealth’ is ultimately the product of common expense) to be celebrating celebrity
for the sake of nothing more than celebrity. Worse is the pathetic display here
in the defacto bankrupt disunited states (uk not much better and in many ways
worse) relative to their former colonial masters. Then there was that
ostentatious marriage display so well publicized even as the uk’s (eu, u.s. et
als) ‘rank and file’ are sacrificing and the respective nation states
crumbling. Even so-called celebrities here shun such meaningless displays of
themselves and at least serve a cinematic (art form) purpose. Truth be told, I
bear them no ill will; but, I bear them no good will either. After all, quite
simply, they are but a meaningless, extravagantly costly welfare couple that
are simply irrelevant. How pathetic and embarrassing for their fans, followers,
onlookers and their liege. And, though I’m biased (I think Grace Kelly to have
been the most exquisite of creatures to have graced this earth – Alfred
Hitchcock with an eye for such things thought so too and said as much), clearly
Prince Albert of Monaco and his bride’s wedding was tastefully and not
cloyingly about right. Now that’s real royalty via Grace Kelly; with a purpose;
the management / leadership of a prime travel / gambling / entertainment /
resort destination; viz., Monaco. ]
BOEHNER:
Taxes 'off table'...
Debt Talks Turn to Social Security Cuts...
CHARGE:
Bypassing Congress to raise debt would be 'impeachable'...
LONDON
BRIDGES FALLING DOWN:
Coulson 'to be arrested tomorrow'...
Gov't
decision on SKY takeover 'delayed'...
UPDATE:
China warns U.S. officials not to meet Dalai Lama...
CHICAGOLAND:
THIEVES STEAL ENTIRE A/C UNITS FROM HOUSES
UPDATE:
Teen Dead After Beach Brawl...
Wisc
beating victim: 'They just said "Oh, white girl bleeds a lot"'...
US
Lawmakers Accuse DOJ of Cover-up in Botched Gun-Running Op...
CA Prison Shrink Paid $838,706 Last Year...
CA
companies flee state...
No
recession for 454 White House aides: They'll make $37,121,463 this year...
United
States of 'gloom'...
Iran
Ridicules: America is Not Independent...
SHOCK:
Father with HIV raped 6-month-old son...
MEDIA
BLOWS IT, AGAIN...
NANCY
GRACE LEFT SPUTTERING: 'SOMEWHERE OUT THERE, THE DEVIL IS DANCING TONIGHT'...
Attorney:
Case Was 'Media Assassination'...
'Now
you have learned a lesson'...
CBS
host breaks down...
'TOT
MOM' CLEARED BY COURT...
JURY:
NO MURDER!
Only
guilty of lying to cops...
Portugal's
Debt Downgraded to Junk...
CHINA:
USA 'ALREADY DEFAULTING'...
DOLLAR
TO 'LOSE RESERVE STATUS'
Economy
Expected to Have Major Slide in Months Ahead...
NEW
IMF CHIEF FROM CHICAGOLAND...
MARK
HALPERIN CALLS OBAMA 'A DICK' ON LIVE TV...
POLL:
Obama 42%, any
Republican 46%...
Campaign
signals fundraising fail...
UPDATE:
Minnesota Government Shuts Down...
Washington
state closes tourism office...
Florida
state workers get pink slips, more cuts ahead...
FEDS STRIKE DOWN STATE'S BAN ON RACE CONSIDERATION IN COLLEGE ADMISSIONS...
SoCal
Looks to Secede from California...
REPORT:
U.S. Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement
Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
GETTING
NERVOUS
NEWT:
Obama 'most successful food stamp president in American history'...
Palin:
Hollywood stars as 'full of hate'... ["What would make someone be so full of
hate?" palin asks … answer: resistance to someone as dumb and full of
war-mongering hate as she is! ]
REPORT:
NATO forces ARE
trying to assassinate Qaddafi...
Los Alamos under siege from wildfire...
'Throwing absolutely everything at this that we got'...
BLAGO
LIKELY HEADED TO PRISON...
'What
happened?'
But
he gets to keep his hair...
Fitz
finally wins one!
GUILTY
IN CHICAGOLAND...
17
of 20 counts...
Tried
To Sell Obama's senate seat...
Jury
DEADLOCKED on Rahm shakedown...
Blago
to lawyer: 'What happened?'
'Stunned'...
JOBLESS
WEAK: 429,000...
...disappointed
Economic
trouble puzzles Fed chief...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
THE
NEW 'NORMAL'
GALLUP
PLUNGE...
Approval
-4, disapproval +5 -- in one day!
DOWN TO
THIRD: USA 'TO FALL BEHIND INDIA' IN TRADE...
DEM
FIX: MORE SPENDING!
Bernanke
speaks, stocks sink...
FORBES:
'Admits he's clueless'...
CBO:
Long-Term Debt Picture Worsens...
Would
reach 101% of GDP by 2021...
STUDY:
State, local gov'ts must raise taxes $1,400 a year for
30 years to fund pensions...
Millionaires
shrug off downturn; Wealthy richer than before crisis...
Zuckerman:
'We now have more idle men, women than at any time since Great Depression'...
SHOCK
POLL: ONLY 3 in 10 WILL VOTE FOR OBAMA...
66%
say US headed in 'wrong direction'...
Greece
Agrees on New Austerity Plan With EU, IMF...
ANGER
IN ATHENS...
'BLACK
HOLE'...
DEBT TALKS BREAKDOWN; TAX BUST
S&P:
Risk of U.S. credit rating downgrade increased...
Chicago
county faces $108 billion
gap in pensions....
Greek
Streets 'Explosive'...
PM wins
confidence vote 'but outlook remains dire'...
Huntsman
announces presidential bid at Statue of Liberty...
Harry
Reid endorses...
Bachmann
surges to primary lead...
Iraq
hunting $17 billion missing after U.S. invasion...
NATO
NIGHTMARE: 9 CIVILIANS KILLED [NATO strike kills 15 Libyan civilians]
Census:
Whites lose majority among babies...
German
Giant Says US Workers Lack Skills...
PAPER:
AMERICA'S LOST DECADE?
States
look to Internet taxes to close budget gaps...
SPANIARDS
ON MARCH OVER BLEAK PROSPECTS...
House will move this week to limit funding for effort in Libya...
'DON'T
BE SURPRISED IF ATHENS GOES UP IN FLAMES'...
GREEK
PM PLEADS FOR UNITY!
...warns
against default
Threat
to downgrade Italian debt raises contagion fears...
Princess
Diana Conspiracy Movie Headed to Theaters... [ Uh, oh! Time to gear
up the already harsh ‘censors’ in england.
]
Bachmann:
Obama 'has failed' blacks, Hispanics... [ Come on! ‘Wobama the b’
(for b***s*** has failed everyone. ]
Presidential
no-show miffs Hispanics...
African-American
unemployment at 16%... [ But there’s rationality in this stat as
people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then there’s
the attitude. I truly believe from direct experience that even when their
outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed. ]
SHE'S
OFF! (on the road again) Michelle Obama embarks on Africa visit … (stay there!)
...
Michelle Obama Admits: 'Fortunately, We Have Help From The Media'...
CHICAGOLAND:
Rahm's Top Cop Blames Gangs, Crime on 'Gov't-Sponsored Racism'...
Likens
federal gun laws to 'racism'...
Teen
Mob Of 50 Hits Chicago WALGREENS...
Teen
brutally beaten by mob of blacks; cops
mull 'lynching' charge...
Princess
Diana Conspiracy Movie Headed to Theaters... [ British
queen arrives in Ireland Queen Elizabeth II’s visit overshadowed by security
scares. (Washington Post) [ ‘How sweet she is’ … that ‘sweet liz’ … that is
… Diana
film causes stir at Cannes “Unlawful
Killing” has a combination of celebrity, controversy and canny hype-mongering.
(Washington Post) [ Let’s not kid
ourselves … and, Dodi Fayed’s father was no dope and knew the score. Indeed,
it’s not coincidental that William’s the over-riding favorite of granny Liz II;
after all, Harry’s the bastard son of Hewitt (don’t buy into their DNA proffer
which they did buy – you know, that ‘bloodline thing’). Moreover, it was
reported that Diana had another ‘potential challenger in the oven’ at the time
of her death and we all know how dicey such english affairs of state can be
(ie., Henry VIII, Richard III, etc.). Then there’s the contempt of Diana for
having brought the son of her bosom, Chas, down. Do I think she said flat out
‘kill Diana’. No … more of a ‘do what’s necessary’ to mi6 et als. Ultimately,
William will require some substantial therapy to sort out this looming
conflict. After all, Diana was his mother.
Drudgereport: British
woman decapitated in grocery store; killer flees with head... Cannes:
Diana doc slams UK royals as 'gangsters'... ]
Drudgereport: Protesters
burn American flag during Obama visit to Puerto Rico -- a
U.S. territory... [ I find even his retirement costs
objectionable. Obama: My
family is ‘fine’ with one term Politico
| President Barack Obama says his family is “not invested” in a second term.
The unctuous pandering by the wobamas is nauseating. And, michele’s
fundraisers? What’s up with that? Wobama’s such a glomming golem / slug. Obama
says if he were Weiner, he’d resign
President Obama on Monday waded into the debate over whether embattled
Rep. Anthony Weiner should step down, saying, “If it was me, I would resign..Barack Obama: The
Naked Emperor Shocking but true revelations from David Icke| ..Obama is
just more of the same, a big smile with strings attached, and controlled
completely by those that chose him, trained him, sold him and provided his
record funding, kept his many skeletons under wraps, like the gay sex and crack
cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to
be with your Presidential camp, who is alleged to claim that someone claiming
to represent me called asking for $100,000, to keep me from coming forward
about our (Obama and I) November 1999 encounter of sex and cocaine use?), ...
Obama is just another Banksters' moll prostituting himself .., and that's why
he supported the grotesque bail-out of the banking system and why he will
always put their interests before the people. ] http://albertpeia.com/obamadeceptionhighqualityversion.flv
Top 3
Reasons Markets Were Down After Bernanke Recanted July 14, 2011 Wall St Cheat Sheet ‘Markets
closed down on Wall Street today: Dow -0.44% , S&P -0.68% , Nasdaq -1.22% ,
Oil -2.15% , Gold +0.03% .
On the commodities
front, Oil fell to $95.94, while precious metals gained slightly, with
Gold up to $1,586.00 an ounce and Silver up 0.84% to $38.47 an ounce.
Today’s markets were
down because:
1) No QE3? While
Bernanke seemed to hint at the possibility of a third round of quantitative
easing when addressing Congress yesterday, now he’s backing off, saying that the issue is “more complex” than
before QE2, and that the Fed is “not prepared at this point to take further
action.”
2) Techs, Transports,
and Cyclicals . While the Dow and S&P hovered close yesterday’s closing
figures, the Nasdaq dropped off more than 1%, with transports down 1.3% and industrials like Alcoa , Dupont , and 3M some
of the day’s worst performers. The cyclical and leading-edge sectors also did
poorly today. S&P industrials were down 0.7%, as was the S&P’s tech
sector. The S&P Small-Cap 600 was down 1.2%.
3) Downgrade watch.
Wednesday evening, Moody’s put the U.S.
on the watchlist for a possible credit rating downgrade, citing the “rising
possibility” that Congress won’t reach a deal to raise the debt ceiling on
time, triggering a selective default on government obligations. After American
investors have watched European stocks and American stocks tank every time a
relatively small Euro-Zone country gets downgraded by a ratings service, the
possibility that government of the country with the world’s largest economy
could be downgraded definitely has people scared. Hopefully after Obama’s
meetings with congressional leaders today and tomorrow, we’ll be privy to some
brighter news and see the markets rally like they did last week.’
Ben
Bernanke: Answers I Would Really Like to Know...at Minyanville
China, Wall
Street pile pressure on US debt talks [ China? Fraudulent wall
street? Somehow this seems vaguely odd and doesn’t pass the smell test for
reasons difficult to put one’s finger on. ]
QE3
Off? Bernanke Says Fed Not Prepared To Take Action At This Point Zero Hedge | When in doubt, baffle
them with male cow manure.
U.S.
national debt: dancing on the brink of a world crisis Andrei Fedyashin | Budget and debt
problems are once again racking America.
New
Brown University Report Pegs The Real Cost Of Current Wars At $4 Trillion The Daily Bail | The government has
already paid $2.3 trillion to $2.7 trillion.
AAA
at Risk? ‘Moody’s got no clue, US downgrade long overdue’ RT | Moody’s says it’s reviewing
America’s top triple-A debt rating.
US
Rating Close to ‘Junk’: Independent Strategist CNBC.com | Moody’s Rating Agency on
Wednesday placed the U.S. triple-A rating on review for a downgrade.
Fed
Chairman Bernanke Says “Gold Is Not Money” … But His Predecessor Alan Greenspan
Disagrees Washington’s Blog |
Fed Chairman Bernanke told congress today: ‘Gold isn’t money’. But Bernanke’s
predecessor – former Fed chair Alan Greenspan – disagrees.
Quantitative
Easing Rounds 1 and 2 Hurt the Economy … Bernanke Proposes Round 3 Washington’s Blog | Federal Reserve
chairman Ben Bernanke is hinting at a third round of quantitative easing.
National / World
Obama
on high ground But Cantor could still bring him down. (Washington Post) [
High ground? No such thing for ‘wobama the b’ (for b***s***)! He can run, but
can’t hide from his contraindicated (based on reality, broken campaign promises,
and consequences therefrom) record of unequivocal failure. Geithner
says hard times to continue for many [ But not for his frauds on
wall street for whom everyone’s expected to keep sacrificing; and, ultimately
their negative churn-and-earn in real economic terms has to come from some
place, ie., you, yours, main street, etc., and has manifested in the QE’s,
etc.. Well, there you have it. The product of his, wobama et als’ policies;
viz., unhappy days are here again’ or, hard times for most are here to stay,
or, you get the picture, your pain their gain.
] Moody's
puts U.S. ratings on review for downgrade Europe’s
debt crisis threatens Italy Sheer size of the world’s seventh-largest
economy could thwart any international attempt to bail it out. (Washington
Post) [ Yeah, dem’ darn PIIGS. Reminds
me of that joke (I won’t repeat it here) except the punch line: ‘That’s black
bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The effects
of these negative predispositions toward inherent criminality is certainly
being felt globally as well as domestically and has little to recommend it. My
own direct experience with the region(s) (particularly new jersey, new york,
virginia, connecticut, california) carves out no exception for the prevalence
of the worst of human nature; which is now collectively and pervasively
americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street
accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Living in
and Through The Poison Century Janet
C. Phelan | An ex-DEA agent recently disclosed that the CIA did
an aerial spray in California back in the 50s.
Fluoride
consumption leads to brain damage, says study Ethan A. Huff | It is becoming
increasingly difficult for fluoride fanatics to defend the practice of
artificial water fluoridation.
Cellphones, Cancer
and Infertility Foxnews.com
| Consumers need to understand all potential health problems that could occur
from long-term cell phone radiation exposure.
42%
of Britons will get cancer, statistics show London Guardian | It was one of the starkest statistics
about the nation’s health – that one in three of us would get cancer. Sadly,
the figures have just got worse.
Libya:
Col Gaddafi has ‘suicide plan’ to blow up Tripoli London Telegraph | Col Muammar
Gaddafi has a “suicidal plan” to blow up the capital Tripoli if it is taken by
rebels, the Kremlin’s special envoy to Libya said.
Arab
world’s ratings of Obama, US plummet: poll AFP | Two years after US President Barack Obama called
in a groundbreaking speech from Cairo for a “new beginning” in relations with
the Muslim world, his popularity among Arabs has nosedived.
Libyan
rebels looted and beat civilians, rights group says CNN | Libyan rebels have looted and
burned homes and abused civilians, a human rights group said Wednesday.
’1,108 Libyans
killed in NATO attacks’ Press TV |
Libya’s prosecutor general has said that NATO airstrikes have killed more than
1,100 civilians and injured thousands of others since the end of March.
U.S. Used
Strategic Bombers Against Libya cryptogon.com
| A quick symphony of planning allowed USAF’s heavy bombers to
strike 150 targets in Libya.
Pentagon
loses 24,000 classified files in massive hacking breach
Republican
leaders clash over debt-limit plan Sen. McConnell warns that default could
“destroy” the GOP brand, but Rep. Cantor rejects his proposal to break the
stalemate over raising the debt limit.
(Washington Post) [McConnell
calls for raising debt limit in steps Senate Republican leader offers to
give President Obama new power to raise debt ceiling as a “backup plan” in case
talks collapse. (Washington Post) [ As if we didn’t ultimately see that coming;
you know, it might affect their paychecks if they didn’t … . Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
‘If
they can kill Ahmed Wali ...’ After the Afghan president’s powerful
half-brother death, leaders are re-examining their inner circles. (Washington
Post) [ Oh come on! Let’s not over-react here. After all, he was heavily involved
in the u.s. government / military protected illegal heroin trade; and, with the
mentally challenged cia, of all organizations, as his partners among others in
crime. Kind of like ‘Godfather 3’ (masterfully by Francis Ford Coppola,
starring Al Pacino) where all these psychotic italian mental cases are
‘whacking’ each other based on greed, paranoia, etc.. Whenever the government /
cia is involved as here, you’re lucky to get even a fraction of what actually
went down and why. Killing
of Ahmed Karzai a setback for U.S. mission in Afghanistan American
officials say Afghan president’s half-brother had evolved from strongman to
influential ally. (Washington Post) [ Yeah! This is a biggy ‘cause he’s done
such a great job helping with america’s surging heroin production,
distribution, trade in Afghanistan; you know, one of pervasively corrupt,
defacto bankrupt america’s raison d’etres for being in Afghanistan. Yet, this
is even a bigger plus for the Taliban who had all but eradicated the opium
trade and the attendant corruption in Afghanistan. Afghan CIA Drug Kingpin Shot Dead by Own Bodyguard Kurt Nimmo | ‘CIA has been in the
drug running business since the 1950s. Kurt Nimmo Infowars.com July 12, 2011
Ahmad Wali Karzai, the half brother of Afghan president Hamid
Karzai, was assassinated by one of his own bodyguards Tuesday morning. Friend
and trusted head of security Sardar Mohammed shot him in the head and chest.
Mohammed was in turn shot and killed by fellow bodyguards. The Taliban claimed
responsibility for the assassination.
In 2009 it was reported
that Karzai was a major player in the Afghan opium trade. According to reports,
other members of the Karzai family are involved
“head-to-heels” in the drug business.
Ahmad Wali Karzai also worked for the CIA.
“The CIA has been
complicit in the global drug trade for years,” a former intelligence official told Newsmax in 2002. “The CIA
did almost the identical thing during the Vietnam War, which had catastrophic
consequences – the increase in the heroin trade in the USA beginning in the
1970s is directly attributable to the CIA.”
According to a report in
Presscore, the
former Unocal employee Hamid Karzai and his family are heavily
involved in the CIA’s drug business.
“85 per cent of all
drugs produced in Afghanistan is being shipped aboard US aircraft. Foreign
diplomats have stated that the United States military buy drugs from local
Afghan drug lords who deal with field commanders overseeing eradication of drug
production,” states the report. The CIA provides protection for the enterprise.
The CIA has been in the
drug running business since the 1950s. In Burma,
Vietnam, Laos, Latin America, and Afghanistan, the CIA — also known as the
“Cocaine Import Agency” — has remained at the forefront of the international
illicit drug trade. The journalist Gary Webb and the San Jose Mercury News tied
the CIA and the Contras to a large crack cocaine ring in Los Angeles. Webb paid
with his life for revealing this information to the public.
Before the U.S. invaded
Afghanistan, the Taliban had imposed a ban on opium production. This resulted
in opium production collapsing by more than 90 per cent. It was the U.S.
supported Northern Alliance that came to the rescue and began protecting the
production of raw opium.
“CIA-supported
Mujahedeen rebels [who in 2001 were part of the Northern Alliance] engaged
heavily in drug trafficking while fighting against the Soviet-supported
government and its plans to reform the very backward Afghan society,” William Blum
writes in The Real Drug Lords.
In a Fox News report
aired in April of 2010, correspondent Geraldo Rivera interviewed a solder in Afghanistan who
admitted the U.S. allows the opium trade to flourish.
The corporate media has
provided propaganda for the CIA’s drug business. “Curbing the Taliban’s
multimillion dollar opium poppy business was a major goal of a military
operation to seize this former insurgent stronghold,” the Associated Press
reported in March of 2010. “If they destroy the crops and curb the trade, they
lose the support of the population — a problem for which they have no easy
solution.”
IN FACT, AS PREVIOUSLY
NOTED, THE TALIBAN BANNED OPIUM PRODUCTION AND ALMOST ELIMINATED THE
CROP A DECADE AGO.’
Panetta
shifts the viewpoint on U.S.-led warsThe new Defense secretary makes it
clear he wants limits -- on military commanders, on allies' expectations and on
the U.S. defense budget -- to get off a permanent war footing. (LAT)[Sure could
have fooled us with his recent rhetoric, kind of like his ‘boss’,failed
president ‘wobama the b’ (for b***s***) Drudgereport: OBAMA:
LET'S STAY IN IRAQ...
FLASHBACK:
'I intend to remove all U.S. troops from Iraq by the end of 2011'... REPORT:
U.S. Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement
Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA) Hasn’t Panetta’s nose grown larger. Do you think he’s
related to puppet-master Geppetto and his line of Pinnochio puppets; Mr.
Pinnochietta.[Boehner
endorses Obama’s call for far-reaching plan on debt Pelosi:
‘We are not Greece’ (but greecy Italy Italians voice concern over Italian
debt crisis scenario (WP) [ Whew! Close call! Nothing to worry about now that
wobama’s got a boehner;so not to be so hard on them;if pelosi says it,it must
be true;Not!Pervasively corrupt,defacto bankrupt america,they,she look pretty
greecey. After all,if the same’s wobama’s ‘far-reaching plan on debt’, we know
‘wobama the b’ is total b***s*** which means like Greecey PIIGS they’ll be back
to the trough for more … slop … py! Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Boy
sells kidney to buy iPad, now regrets decision as his health wanes
Natural News | Some people will do anything to obtain the latest
Apple technology, which apparently includes selling their vital organs.
U.S.
trade gap unexpectedly widens The trade deficit widened in May to the
highest level in almost three years on jump in oil imports.(Washington Post) [
Indeed! But unexpectedly? Hardly. Debasing a nation’s currency as has been done
here in pervasively corrupt, defacto bankrupt america for the sake of the
frauds on wall street tends to have that effect on oil, commodities, as well as
those ever more worthless paper stocks, except as measured by other than
defacto bankrupt america’s ever more worthless paper currency. In other words,
it takes more ever more worthless over-printed/created paper currency for each
hard asset (ie., precious metals, barrels of oil, and unfortunately owing to a
more amorphous and hence, ripe for fraud valuation process, those churned paper
stocks on fraudulent wall street. Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile
‘maestro’ greenspan and failed miserably except for the frauds on wall street
who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The effects
of these negative predispositions toward inherent criminality is certainly
being felt globally as well as domestically and has little to recommend it. My
own direct experience with the region(s) (particularly new jersey, new york,
virginia, connecticut, california) carves out no exception for the prevalence
of the worst of human nature; which is now collectively and pervasively
americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Paul B. Farrell: 7 reasons U.S. needs a Good Depression now By Paul
B. Farrell, MarketWatch SAN LUIS
OBISPO, Calif. (MarketWatch) — ‘No, do not raise the debt-ceiling. You heard
me: Block the debt ceiling vote. Don’t raise it. America’s out-of-control. A
debt addict. Time to detox. Deal with the collateral damage before it’s too
late.
We need to fix America’s
looming credit default, failing economy and our screwed-up banking system. Now,
with a Good Depression. If we just kick the can down the road one more time,
we’ll be trapped into repeating our 1930’s tragedy, a second Great Depression.
The U.S. needs to invest
in a massive public works program, and rich people and corporations should pay
more taxes. Barton Biggs, of Traxis Partners, shares his views with the Simon
Constable.
Yes, depression.
Spelled: d-e-p-r-e-s-s-i-o-n. Wake up America, recessions do not work. Won’t
work in the future. Remember that 30-month recession after the dot-com crash?
Didn’t work. Why? Because in the decade since that 2000 peak, Wall Street’s
lost an inflation–adjusted 20% of America’s retirement money.
And what about the
so-called Great Recession of the 2008 credit meltdown? Didn’t work either. In
fact, made matters worse: Wall Street got richer by stealing from the other 98%
of Americans, the middle class, the poor. And now their conservative puppets in
Washington want to make matters worse, widening the wealth gap further to
benefit the Super Rich.
Seems nobody really
gives a damn about our great nation any more. America’s now a capitalists
anarchy: “Every (rich) man for himself.” Proxy battles are fought by
high-priced lobbyists in a broken political system. America needs a 21-gun
wake-up call. Yes, that’s why America needs a Good Depression. The economy’s
bad now. But kicking the can down the road again will make matters much worse
later.
This is not our first
call for a Good Depression. As early as 2005 we began reporting on excessive
debt. In November 2007 we warned of a crash dead ahead. The subprime credit
meltdown had been accelerating for many months, although for a year our leaders
kept misleading Americans: Fed Chairman Ben Bernanke’s “it’s under control.”
Treasury Secretary Henry Paulson’s delusional “best economy I’ve ever seen in
my lifetime.”
In August 2008 came the
original of our seven reasons why America needs a Good Depression. Yes August,
just two months before Wall Street banks collapsed into de facto bankruptcy,
after many warnings predicting a crisis. This was no Black Swan. In September
2008 we reported on Naomi Klein, author of “Shock Doctrine: The Rise of
Disaster Capitalism,” warning of Wall Street’s insidious plan to take over
America:
“Nobody should believe
the overblown claims that the market crisis signals the death of ‘free market’
ideology.” Then as the meltdown went nuclear, Klein warned: “Free market
ideology has always been a servant to the interests of capital, and its
presence ebbs and flows depending on its usefulness to those interests. During
boom times, it’s profitable to preach laissez faire, because an absentee
government allows speculative bubbles to inflate.”
But “when those bubbles
burst, the ideology becomes a hindrance, and it goes dormant while big
government rides to the rescue. But rest assured,” she predicted, Reaganomics
“ideology will come roaring back when the bailouts are done. The massive debts
the public is accumulating to bail out the speculators will then become part of
a global budget crisis that will be the rationalization for deep cuts to social
programs, and for a renewed push to privatize.”
Yes, all was
predictable: The events of the past few years were well known in advance. In
fact, the events of the entire decade were predictable. The rich got richer off
the backs of the middle class and the poor. Why? “There’s class warfare all
right,” warns Warren Buffett. “But it’s my class, the rich class, that’s making
war, and we’re winning.”
And they are also blind
and deaf to the havoc their free-market Reaganomics policies are creating,
selfishly undermining America, the world’s greatest economic power.
Lessons learned? Zero.
Why? Wall Street, Washington and Corporate America are focused on one
narrow-minded short-term strategy: Economic g-r-o-w-t-h, bull markets,
megabonuses, tax cuts. In good times they tout “free markets.” But when greed
bombs, they throw free-market “principles” under the Reagan Revolution bus and
unleash their mercenary lobbyists to go whining to Congress for huge taxpayer
bailouts and access at the Fed discount window, to siphon off more taxpayer money.
And they’ll do it again soon,
Wall Street and their
cronies are doing such a miserable job, America needs a new strategy: First,
stop “kicking the can down the road.” Let a good old-fashioned Good Depression
do the job that our hapless, happy-talking leaders refuse to do. Take our
medicine. Let a new depression clean house and reawaken Americans to core
values.
Trust me folks, it’s
either a Good Depression now … or a Great Depression 2. Here are seven reasons
favoring the do-it-now strategy:
What’s the real problem?
Not the economy, not markets, nor even politics. Yes, our economic pains are
real. But they’re just symptoms. Something’s structural wrong. Since 2000
endless bad news: Greed, deceit, stupidity, corruption, unethical behavior,
lack of moral conscience.
The real problem’s deep
in our character, the “mutant capitalism” Jack Bogle warned of in “The Battle
for the Soul of Capitalism.” Sadly, that battle was lost. With it we lost our
soul, our moral compass. America’s character is measured by our net worth.
Comparing today with the
Great Depression is common sport. In a Newsweek special “Seeing Shades of the
1930s,” Dan Gross wrote: “Wall Street, after two terms of a business-friendly
Republican president, self-immolated on a pyre of greed, incompetence and
excessive optimism.” Today’s “new normal” economy means high unemployment for
years, inflation driving prices, rising interest rates, more debt, chaos.
We are destroying
ourselves from within. Former U.S. Comptroller General David Walker warns that
“there are striking similarities between America’s current situation and that
of another great power from the past: Rome.” Three reasons “worth remembering:
declining moral values and political civility at home, an overconfident and
overextended military in foreign lands, and fiscal irresponsibility by the
central government.” We are becoming more vulnerable to external enemies.
Before the 2008 crash,
“Irrational Exuberance” author Robert Shiller warned in the Atlantic magazine
that “bubbles are primarily social phenomena. Until we understand and address
the psychology that fuels them, they’re going to keep forming.” Housing
inflated 85% in the decade: “Historically unprecedented … no rational basis for
it.”
Bubble thinking is an
toxic virus that infected everyone. Shiller warns of another coming: “We
recently lived through two epidemics of excessive financial optimism … we are
close to a third episode.”
Writing in the Wall
Street Journal, Jim Grant, editor of the Interest Rate Observer, wrote: “Why No
Outrage? Through history, outrageous financial behavior has been met with
outrage. But today Wall Street’s damaging recklessness has been met with
near-silence, from a too tolerant populace.” Grant worries that Wall Street
will run “itself and the rest of the American financial system right over a
cliff.”
But we only went to the
edge in 2008. Today, a rebellious “throw the bums out” hostility is blowing a
new kind of bubble: Three years ago we did not have Tea Party, union fights,
the Arab Spring and Greek austerity riots, all signs of an dark angry future
sweeping across America.
In a powerful Bloomberg
Markets feature, “No Easy Fix,” we’re told Wall Street’s “profit formula has
hit a wall.” Their “money-making machine is broken and efforts to repair it
after the biggest losses in history are likely to undermine profits.”
Even Mad Money’s Jim
Cramer openly admits hedge fund managers are pocketing megaprofits at capital
gains rates while laughing at the stupidity of a broken political system that
gives hundreds of billions in tax breaks to the richest, then takes taxes off
the table as our middle class is dying under massive unsustainable deficits.
Soon angry mobs will “fix” Wall Street.
The American economy is
a “war economy” driven by a egomaniac. I saw it firsthand as a U.S. Marine.
Americans love being king of the hill, world’s cop, the global superpower. Why
else spend 54% of our tax dollars on a war machine, 47% of the world’s total
military budgets.
Why? Our war machine
generates such “spectacular profits that many people around the world” are
convinced America’s “rich and powerful must be deliberately causing
catastrophes so that they can exploit them,” warns Klein in “Shock Doctrine.”
No wonder the GOP takes military spending, like tax cuts for the rich,
off-the-table: The war industry is a major political donor.
In “The Price of
Liberty: Paying for America’s Wars,” Robert Hormats, undersecretary of state
and a former Goldman Sachs vice chairman, traces America’s wartime financing
from the Revolutionary War to present wars. He warns that today we’re “relying
on faith over experience, hoping that sustained growth will erase deficits and
that the ballooning costs of Social Security, Medicare and Medicaid will be
manageable in the coming decades without difficult reforms.”
Absent a brutal reset,
we are on a historically predictable course says Kevin Phillips, Nixon
strategist and author of “Wealth & Democracy:” “Most great nations, at the
peak of their economic power, become arrogant and wage great world wars at
great cost, wasting vast resources, taking on huge debt, and ultimately burning
themselves out.” Yes, burned out, unprepared.
So pray for a Good
Depression earlier rather than later. Choose now and we can be prepared for
whatever comes. Or a Great Depression will hit later, when we’re least
prepared, the problems bigger, our faith weaker … don’t raise the debt
ceiling.’
Our
Debt Binge Is Ending — And The Middle Class Will Get Clobbered
Fed
Can Manipulate Markets, But Can't Reverse Economy at Minyanville Toby Connor Jul
11, 2011 ‘I believe that we have begun the topping process of this cyclical
bull market [ in this secular bear market ]. In a healthy market an
intermediate decline is a profit-taking event after a significant leg up. It
should hold well above the prior intermediate bottom. The decline into the June
low was not a profit-taking event. The market had not rallied long enough or
far enough to warrant an intermediate correction and certainly not one that
would test the March lows. The decline in May and June was the first shot
across the bow that something was wrong with the fundamentals driving this
market.
Now let me be clear, I don't recommend anyone sell short the market. All I'm
saying is it's too late to have retirement funds positioned long at this time.
Asset appreciation is the Fed’s stated third mandate. Bernanke is going to
fight the bear tooth and nail. There will be continued interventions into the
markets. The rules will be changed as we go. Anything and everything will be
tried to keep stock and bond markets levitated. That is not the kind of
environment conducive to making consistent gains on the short side. That is the
kind of environment that can and will whipsaw traders to death.
Even in a market free of intervention the topping process is always volatile
and dangerous. But in a market that is being actively managed it is especially
dangerous on the short side. Case in point -- the June bottom was way too early
for a final intermediate bottom.
As I've said before, we should have seen a counter trend bounce to relieve
sentiment extremes followed by another leg down into a more lasting bottom.
Unfortunately that was not allowed to happen. The powers that be manufactured
an explosive rally on the low volume pre-holiday week in an attempt to create a
massive momentum move ahead of the end of QE2 that would be hard to turn
around. Needless to say Bernanke didn't want a repeat of last year when QE1
ended.
http://image.minyanville.com/assets/FCK_Jan2011/Image/July11/1-spx%20new%20bearb.JPG
Click
to enlarge
The Fed can temporarily turn the markets higher but what they cannot do is
reverse the economy. I said when QE1 began that no amount of printing or
stimulus would stop the underlying cancer in the economy. All it would do is
create a brief reprieve which would be followed by an even deeper and more
severe recession once the sugar high wore off.
The simple fact is that we cannot cure a problem of too much borrowing and too
much spending with more borrowing and more spending. We tried this in the `30's
and it caused a 15 year depression. Japan tried it and it led to two lost
decades.
The cure is to bite the bullet and allow the deleveraging process to run its
course. Yes it will be painful. We've put this off for so long that it isn't
just going to be painful it's going to be catastrophic. But the longer we kick
the can down the road the worse the endgame becomes. The only ray of sunshine I
can offer is that if we let the markets work they will complete the
deleveraging process fairly quickly. Within 2 to 3 years the world can be back
on a sustainable path of growth. Continue to fight this and we could be stuck
in an on-again off-again recession for another 20 years with the final end game
collapse so devastating that it will make the Great Depression look like a
picnic.
The last two employment reports are clearly showing that the economy is
slipping back into recession. I suspect by August the employment report could,
and probably will, turn negative. All the manufactured rallies in the world
cannot prop up the stock market if the economy is rolling over into another
recession. They can postpone the inevitable only so long and ultimately will
just make the bear that much more severe.
The Fed's efforts have only extended the topping process, they haven't stopped
it.’
NEXT:
EU calls emergency meeting as crisis stalks Italy...
Housing
Woes to Cause Recession in 2012, Says Gary Shilling - Peter Gorenstein ‘ Stocks rallied
Wednesday after Federal
Reserve Chairman Ben Bernanke suggested the central bank would go ahead
with another round of stimulus -- aka quantitative easing -- if the economy
continues to slump. In this scenario, the Federal Reserve would once again
purchase assets to keep interest rates low in an attempt to support the economy
and prop up asset prices.
So far, the Fed's
actions have done more good for asset prices like stocks (see: S&P 500
chart since 2009) while doing less to help the economy (see:
June jobs report). U.S. gross domestic product grew just 1.9% in the first
quarter of the year. For 2011 as a whole, the Fed forecasts U.S. GDP growing at
2.7% to 2.9%, which is lower than the plus 3% forecast they made in April.
Today's guest, Gary
Shilling, President of A. Gary Shilling & Co. and author of the Age
of Deleveraging says another recession is brewing -- no matter what action
the Fed takes. "Economic growth here and abroad is slipping, making a 2012
recession a distinct possibility," he writes in his July newsletter. And,
"when you have slow growth it doesn't take much of a shock to throw you in
negative territory."
Shilling says the shock
to trigger the next recess is "another big leg-down in housing." (An
asset class the Fed has not been able to reflate.) As those familiar with
Shilling know, his forecasts are generally bearish. However, in his
defense, Shilling was one of the few economists who correctly predicted the
dangers of the subprime mortgage market and its impact on the broader economy.
The problem with the
real estate market remains excess inventory. Based on Shilling's research,
there are 2 million to 2.5 million excess homes in the country -- a supply that
will take 4-5 years to work-off. The result: Housing prices will fall another
20% and underwater mortgages will balloon from 23% to 40%, he says.
With housing slumping
again, Shilling says recession is coming to a town near you in 2012.’
Morgan
Stanley studies thousands of layoffs: report
Top 3
Reasons Markets Were Up After Bernanke Addressed Congress Wall St Cheat
Sheet July 13, 2011
‘closed up on Wall Street today: Dow +0.36% , S&P +0.31% , Nasdaq
+0.54% , Oil +0.46% , Gold +1.27% . On the commodities front, Oil
continued to climb to $97.88. Precious metals also gained, with Gold up to
$1,582.10 an ounce and Silver up 7.24% to $38.22 an ounce.
Today’s markets were up
because:
1) China’s GDP.
Investors in the western world awoke to news that the world’s second-largest
economy grew at an annually adjusted rate of 9.5% between April and June.
China’s size and exploding consumption make it a huge player in the global
market. Just as an example, strong
demand in China for luxury vehicles has helped prop up sales for automakers
like BMW (ETR:BMW) and Volkswagen (Other OTC:VLKAY.PK), both of which
expect to make record sales in 2011. Today’s numbers also helped propel rare
earth stocks Molycorp , Avalon Rare Metals , Thompson Creek Metals ,
General Moly Inc. , PolyMet Mining corp. , and Freeport-McMoRan Copper &
Gold Inc. .
2) QE3. Markets have
been down for the last three sessions as the public keeps getting hammered by
reports of slowing economic growth. But today’s markets took a turn when the Fed
released a report saying that they expect the pace of the economic recovery
to pick up in the second half of the year, and if it doesn’t, they haven’t
ruled out a third round of quantitative easing, should it become necessary. The
country breathed a collective sigh of relief, which was followed by the ka-CHING of a cash register.
3) Congress gets its act
together . As I write, President Obama is currently meeting with Democratic and
Republican leaders of Congress to discuss raising the debt ceiling. Late Tuesday, Senate
Republican Mitch McConnell suggested a plan that would allow Obama to raise the
debt ceiling on his own. Even more astonishing than the proposal was that it
had bi-partisan backing, with Democrat and Senate Majority Leader Harry Reid
agreeing that the deal could help solve the current impasse in
deficit-reduction discussions…’
Minyanville's
T3 Daily Recap: Market Erases Early Bernanke-Induced Gains at Minyanville ‘US stocks looked set to
post big gains on Wednesday following more dovish comments from Fed Chairman
Ben Bernanke, who was making his regularly scheduled testimony in front of Congress.
The market turned on a dime around midday, however, erasing most of those
previous gains as Fed Chairman Fisher, a voting member of the FOMC, cast doubt
on the possibility of further intervention from the Fed. As is customary when
Bernanke speaks, commodities
got a boost. Gold made new all-time highs, and was a hot topic during the
chairman's Congressional appearance as he was grilled by staunch Fed critic Ron
Paul. Paul, who has been against the existence of the Fed and has
been in favor a gold standard for his entire political career, asked
Bernanke directly whether he thought gold was money, to which the Chairman
replied "no". When further pressed on why central banks hold gold
reserves, Bernanke said it amounted to tradition…’
What's
Next for Gold After New All-Time Highs? at Minyanville
Stock
ETF Rally Fizzles; Moody’s Says U.S. Bond Rating Under Review ETF [email protected] (Tom Lydon), July 13,
2011, 5:26 pm ‘Stock exchange
traded funds faded Wednesday after a morning rally but the real bombshell was
dropped on markets after the closing bell when Moody’s said it is reviewing its
Aaa rating on U.S. government bonds.
Moody’s said it placed
the rating on review for possible downgrade on concerns a deal on the U.S. debt
ceiling may not be reached in Washington.
“The review of the U.S.
government’s bond rating is prompted by the possibility that the debt limit
will not be raised in time to prevent a missed payment of interest or principal
on outstanding bonds and notes. As such, there is a small but rising risk of a
short-lived default,” the ratings agency said.
“Moody’s considers the
probability of a default on interest payments to be low but no longer to be de
minimis,” it added.
U.S. stock ETFs closed
well off their highs Wednesday as earlier gains fizzled after Federal Reserve
Chairman Ben Bernanke said the central bank stands ready to change monetary
policy in response to economic weakness.
Treasury ETFs erased
early losses and closed higher Wednesday. [Treasury ETFs Volatile on ‘QE3’
Talk]…’
Bernanke's
"Untested" Stimulus Strategies Are Destined to Fail at Minyanville
Dutch exposure to Greece and the other PIIGS countries: it
is time to end the bailout madness. | Ernst's Blog
Bernanke
Says Fed Would Consider New Stimulus Effort New York Times | While no additional actions appear
imminent, Mr. Bernanke said in congressional testimony Wednesday that the Fed
would be prepared to act if necessary.
Bernanke
Fights Ron Paul In Congress: ‘Gold Isn’t Money’ Forbes | Chairman Bernanke faced-off
with Fed-hating Ron Paul during his monetary policy report.
Dollar
Falls as Fed Announces Possible QE3 Reuters
| Dollar fell against most major currencies and pushed the euro near $1.42,
moving it further from the prior session’s four-month low.
The next big hit to
the economy? The Lookout
| Disappearance of jobless benefits will take money out of circulation when
economic growth is seeking to gain some traction.
James
Turk: “Gold Is Our Defense Against the Fiat Currency Graveyard” Chris Martenson | Money printing is
the order of the day.
US
trade deficit widens to more than $50bn in May BBC | Oil prices helped push imports
to the second highest level on record, while exports fell slightly from April’s
record high.
Tonight
Tens Of Thousands Of Formerly Middle Class Americans Will Be Sleeping In Their
Cars The Economic Collapse |
Economic despair is beginning to spread rapidly in America.
Richard
Wolff: US is in serious trouble RT |
What happens when state and federal benefits run out later this year?
Rating
Agency Wars 2: The New Evil Empire Strikes Back – Dagong Says Likely To
Downgrade US Even If Debt Limit Raised Tyler Durden | The US’ sovereign credit rating is likely
to be downgraded regardless of whether the US Congress reaches an agreement on
raising its statutory debt limit.
EU
declares war on agencies as Ireland’s rating gets junk status London Guardian | Ireland yesterday
became the third eurozone country to have its credit rating downgraded to junk
status.
National / World
IT'S GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim geithner … thanks for the heads up tiny tim ‘God bless us everyone’! … As if we didn’t already know / feel it! ]
McConnell
calls for raising debt limit in steps Senate Republican leader offers to
give President Obama new power to raise debt ceiling as a “backup plan” in case
talks collapse. (Washington Post) [ As if we didn’t ultimately see that coming;
you know, it might affect their paychecks if they didn’t … . Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Europe’s
debt crisis threatens Italy Sheer size of the world’s seventh-largest
economy could thwart any international attempt to bail it out. (Washington
Post) [ Yeah, dem’ darn PIIGS. Reminds
me of that joke (I won’t repeat it here) except the punch line: ‘That’s black
bart’s girl’. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ ( but greecy
Italy Italians voice concern over Italian debt crisis scenario (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception for
the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Belfast
riots: More video of ‘Molotov cocktail’ battles in N. Ireland Russia Today| Northern Ireland’s
annual day of Protestant marches reached a fiery climax.
Three Blasts Reported
In Mumbai Business Insider|
Four people have been reported killed and 60 people have been injured in three
blasts that took place in Mumbai, late Wednesday.
‘Stupid
Libya war doomed to fail as EU falling apart itself’ RT | The French Parliament is due to
vote on extending the military campaign in Libya.
US airstrike
kills 4 Afghan civilians A US airstrike has killed at least four civilians
in Kunar province in northeast Afghanistan.
Killing
of Ahmed Karzai a setback for U.S. mission in Afghanistan American
officials say Afghan president’s half-brother had evolved from strongman to
influential ally. (Washington Post) [ Yeah! This is a biggy ‘cause he’s done
such a great job helping with america’s surging heroin production,
distribution, trade in Afghanistan; you know, one of pervasively corrupt,
defacto bankrupt america’s raison d’etres for being in Afghanistan. Yet, this
is even a bigger plus for the Taliban who had all but eradicated the opium
trade and the attendant corruption in Afghanistan. Afghan CIA Drug Kingpin Shot Dead by Own Bodyguard Kurt Nimmo | ‘CIA has been in the
drug running business since the 1950s. Kurt Nimmo Infowars.com July 12, 2011
Ahmad Wali Karzai, the half brother of Afghan president Hamid
Karzai, was assassinated by one of his own bodyguards Tuesday morning. Friend
and trusted head of security Sardar Mohammed shot him in the head and chest.
Mohammed was in turn shot and killed by fellow bodyguards. The Taliban claimed
responsibility for the assassination.
In 2009 it was reported
that Karzai was a major player in the Afghan opium trade. According to reports,
other members of the Karzai family are involved
“head-to-heels” in the drug business.
Ahmad Wali Karzai also worked for the CIA.
“The CIA has been
complicit in the global drug trade for years,” a former intelligence official told Newsmax in 2002. “The CIA
did almost the identical thing during the Vietnam War, which had catastrophic
consequences – the increase in the heroin trade in the USA beginning in the
1970s is directly attributable to the CIA.”
According to a report in
Presscore, the
former Unocal employee Hamid Karzai and his family are heavily
involved in the CIA’s drug business.
“85 per cent of all
drugs produced in Afghanistan is being shipped aboard US aircraft. Foreign
diplomats have stated that the United States military buy drugs from local
Afghan drug lords who deal with field commanders overseeing eradication of drug
production,” states the report. The CIA provides protection for the enterprise.
The CIA has been in the
drug running business since the 1950s. In Burma,
Vietnam, Laos, Latin America, and Afghanistan, the CIA — also known as the
“Cocaine Import Agency” — has remained at the forefront of the international
illicit drug trade. The journalist Gary Webb and the San Jose Mercury News tied
the CIA and the Contras to a large crack cocaine ring in Los Angeles. Webb paid
with his life for revealing this information to the public.
Before the U.S. invaded
Afghanistan, the Taliban had imposed a ban on opium production. This resulted
in opium production collapsing by more than 90 per cent. It was the U.S.
supported Northern Alliance that came to the rescue and began protecting the
production of raw opium.
“CIA-supported
Mujahedeen rebels [who in 2001 were part of the Northern Alliance] engaged
heavily in drug trafficking while fighting against the Soviet-supported
government and its plans to reform the very backward Afghan society,” William Blum
writes in The Real Drug Lords.
In a Fox News report
aired in April of 2010, correspondent Geraldo Rivera interviewed a solder in Afghanistan who
admitted the U.S. allows the opium trade to flourish.
The corporate media has
provided propaganda for the CIA’s drug business. “Curbing the Taliban’s
multimillion dollar opium poppy business was a major goal of a military
operation to seize this former insurgent stronghold,” the Associated Press
reported in March of 2010. “If they destroy the crops and curb the trade, they
lose the support of the population — a problem for which they have no easy
solution.”
IN FACT, AS PREVIOUSLY
NOTED, THE TALIBAN BANNED OPIUM PRODUCTION AND ALMOST ELIMINATED THE
CROP A DECADE AGO.’
A
Perfect Financial Storm? at Forbes
Bert Dohmen ‘Surprise,
surprise! The bulls were shocked by the employment report on July 8.
Suddenly, all the talk of the past two weeks about much stronger economic growth
was put on ice and the two words, “double dip,” which was the headline of my Wellington Letter two
months ago, are back.
One headline on June 8
was “U.S. jobs growth ground to a near halt in June.” Nonfarm payrolls
rose only 18,000 in June, the weakest since September. Yesterday, the ADP
report suggested about 150,000 new jobs, but the ADP numbers are very
unreliable. The unemployment rate climbed to a six-month high of 9.2 percent
from 9.1 percent in May. The number of job seekers in the labor force declined
by 270,000 to one of the lowest levels in over three decades. If it
hadn’t been for that, the unemployment rate would have been higher.
All of this was entirely
predictable since February when we warned of a sharp slowdown in the economy,
while Wall Street was talking about a good recovery. The reality of a sharply
decelerating economy can no longer be denied. There were numerous clues
several months ago. One was the fact that Federal corporate income tax receipts
plunged 31% in the first quarter of 2011 from a year earlier. There is an
excellent correlation between tax receipts and economic growth.
Other clues are the
plunge in money velocity, no consumer credit growth, barely noticeable business
credit growth, and the erroneous “real” GDP numbers that overstate actual
growth because of faulty inflation measures.
You see, “real,”
inflation-adjusted GDP growth is already down 50% from the optimistic
Wall Street forecasts of early this year. But it’s actually much worse. GDP
numbers are inflated because of strong price increases that are not reflected
in the government’s inflation statistics. That’s not “growth.” If actual
inflation were deducted from nominal GDP, it would show that the economy is
already in recession.
The Institute for Supply
Management’s (ISM) factory index fell to 53.5 in May, the lowest since
September 2009. Do you remember the disastrous economy in 2009? “Private
employment” now is 2% below the level of ten years ago. Such a long term job
loss over 10 years is unprecedented, going back to 1890.
Our president tells us
that “he” has created 2 million jobs. The fact is that only 1.8 million of the
8.7 million jobs lost in the recession of 2007-2009 have been regained. That’s
a mere 20%. If that were a stock or the market, we would call it a “dead cat
bounce.”
The Empire State survey
of manufacturing conditions on June 15 reported a big drop to minus 7.8 from a
plus 11.9 the prior month. Here we are, tumbling downward, but economists tell
us of “how great it’s going to be later this year.”
This is not an economic
recovery, but a weak bounce. The problem for the economy is Washington. The
great uncertainty produced by a never-ending avalanche of new regulations,
programs and proposals puts small business people in a position of inaction.
The only solution to the economic malaise is jobs, jobs, jobs. But the greatest
employers, small businesses, have no reason to hire.
The problem in
Washington is that there are too many so-called “lawmakers;” they “work” full
time, are in session every year, and are easy targets for all the goodies the
lobbyists pass out. They have been making laws for more than 200 years, and
they still aren’t done.
A New Credit
Crisis?
I see many signs of another approaching crisis. For example, the yield on
6-month T-Bills is now at zero, lower than at any time since the crisis low of
2008. Is this a warning signal? Why would hundreds of billions of dollars be
parked in T-bills with zero yield unless it’s for safety?
There is now a
convergence of huge credit problems:
1. Europe and the
sovereign debt of the PIIGS countries
2. China and the
imploding real estate bubble
3. The U.S. with the
debate of the debt ceiling and significant expenditure cuts
We could call it a
perfect financial storm.
Wishing you capital
preservation.’
Crude
Imports Spark New Growth in Trade Deficit Wall St. Cheat Sheet
Fed Is
Still The Market's Friend, Thanks To A Weak Recovery Advisor
Intelligence/Forbes Kevin Mahn ‘Federal Reserve
Chairman Ben Bernanke announced late last month, during the second of the Fed’s
post-meeting press conferences, that Federal Reserve board members and Federal
Reserve Bank presidents have revised their economic growth forecasts for the
balance of 2011 and for 2012 and 2013 as well.
To be specific, the
Federal Reserve cut their forecasts for gross domestic product (GDP), an
often-used measure of growth in the U.S. economy, to a range of 2.7%-2.9% from
a range of 3.1%-3.3% (which interestingly was also revised down from a range of
3.4%-3.9% as recently as April 2011).
In addition minutes of
the Fed’s last meeting, released Tuesday, confirm that some Fed officials stand
ready to provide additional monetary stimulus if the recovery continues to
sputter.
Further, GDP growth
forecasts were lowered to a range of 3.3%-3.7% from a range of 3.5%-4.2% in
2012 and to a range of 3.5%-4.2% from a range of 3.5%-4.3% in 2013.
The Federal Reserve also
adjusted their forecasts for unemployment and inflation, with both forecasts
adjusted upward for the balance of 2011 as well as for the calendar years of
2012 and 2013.
http://blogs-images.forbes.com/investor/files/2011/06/washington-post_fed_june-2011-300x231.jpg
Source: Federal Reserve. The Washington
Post, “Federal Reserve, acknowledging slowdown, reins in forecast for economic
growth” as published on June
22, 2011.
I was not surprised by
the revisions to the Federal Reserve forecasts as they reiterate the numerous
headwinds that currently face the stalling U.S. economic recovery. Such
headwinds can be found in the jobs, housing and commodities markets.
While Chairman Bernanke
indicated that “temporary factors are in part the reason for the slowdown,” we
can only hope that the effects of the cited headwinds are temporary as these
headwinds place further stress on already strained U.S. consumers whose
spending patterns are a critical component of a robust and sustainable U.S.
economic recovery.
Remember that consumer
spending currently accounts for approximately 70% of our nation’s GDP. Hence,
consumer spending and economic growth are highly correlated and when Americans
are uncertain about their household finances and start to rein in their own
spending, the U.S. economy, in turn, generally does not grow as much as the
following chart helps to illustrate.
Source: Bureau of Economic Analysis. The Atlantic,” Chart of the Day: How Slower Consumer Spending
Stifles GDP” as published on April 28, 2011…’
Minyanville's
T3 Daily Recap: Market Averts Disaster, but Sags Late to Close Red ‘‘US markets closed in the red on Tuesday after turning
lower in the afternoon, but given the magnitude of pre-market losses, today
really amounts to a great escape for the bulls. S&P futures were down 15 handles overnight, and
Italian markets were down nearly 5% before rallying green and preventing a
sharply lower open stateside. For now it appears there are willing buyers on
dips, but given the barrage of negative headlines from Europe and a still bleak
jobs picture, it's difficult to be overly bullish. Retail stocks held in well, led by Lululemon Athletica Inc. (LULU) which
saw its 2-for-1 stock split go into effect today. Under Armour (UA), and Abercrombie & Fitch (ANF)
are two retailers with very bullish cup and
handle patterns, and if the market stays strong expect them to breakout to new
highs like LULU. Apple
(AAPL)
put in a large doji candle, signaling there could be some indecision at these
levels. Overall the market could use some rest after a volatile period, and now
is not the time to make big bets in either direction.’
Will the Second
Half of 2011 Be as Rocky as the First? ETFguide Simon
Maierhofer, July 12, 2011,
Time flies. The 2011 calendar year is already half over, and
based on the main stream 2011 outlook, the market's performance surprised many.
I forgot just how bullish Wall Street and the media was when coming into 2011.
Look at the headlines below and you'll see what I mean.
'Get over your fear and
get back into stocks' - USA Today, 12-17-2010
'Bullish on tech and
2011' - Barrons, 12-20-2010
'Don't see a double dip
for housing' - Morningstar, 12-29-2010
'Economic rebound
forecast for 2011' - Seattle Times, 12-12-2010
'Investor's forecast:
Sunny with a chance of overheating' - WSJ, 1-3-2011
'Why U.S. stocks may
finally be a good buy' - Mootley Fool, 1-3-2011
'Real estate: Finally a
good investment' - SmartMoney, 1-19-2011
'Why the S&P is
still a bargain' - USNews, 2-4-2011
'11 signs the economy is
on the right path' - MarketWatch, 2-10-2011
Judging the media with
20/20 hindsight is always a blast, but I must admit that I was too chicken to
provide a full 2011 forecast via the ETF Profit Strategy Newsletter.
Vaguely Accurate
Here's what I told
Investor's Business Daily when they asked me for my 2011 forecast (published in
IBD's December, 22, 2010 paper):
'The Fed is creating a
bubble to contain the damage left behind by the bust of the previous bubble(s).
QE2, as desired by the Fed, has led to indiscriminate buying of stocks and
commodities.
On a historic basis,
stocks are overvalued and set to deliver long-term pain, not gain. Based on
various sentiment gauges (Institutional Investor survey of newsletter writers
and American Association for Individual Investors' survey of retail investors,
the VIX, Chicago Board Options Exchange Market Volatility Index, and CBOE
put/call ratio), investors are as optimistic about rising prices today as they
were in late 2007.
Compared to 2007,
unemployment has doubled, GDP has tumbled, Americans' desire to spend has morphed
into a new frugality and Europe has caught a contagious financial virus. Based
on sentiment, the cork may pop at any time, although I wouldn't be surprised if
the Fed's POMO (permanent open-market operations) activity can keep prices
afloat through much of 2011. The upside is risky and active traders may follow
the trend until it's broken.'
I admit that the outlook
was somewhat on the vague side but it steered investors in the right direction
- follow the trend but watch out for a correction and a possibly significant
market top. The chart below provides a glance at the S&P's performance
since January 1, 2011 along with various support/resistance points outlined by
the ETF Profit Strategy Newsletter.
http://www.etfguide.com/images/PDNewsletter_Images/spx%20-%207%2012%2011.gif
One Month at a Time
With the major index
stretched to the breaking point but momentum still strong, my strategy was to tackle
the market one month at a time. Initially it made no sense to buck the trend,
but by mid-February, the market seemed to have reached a breaking point. On
February 18, I warned via the ETF Profit Strategy Newsletter that: 'A fast and
steep sell off from current prices is possible.' However, 'If stocks don't fall
below 1,255 and 1,229 we expect new recovery highs later in 2011.'
February 18 was a
Friday. The following Monday was a red-across-the-board kind of a day. The
Nasdaq (Nasdaq: ^IXIC) opened Monday 38 points lower than it closed Friday and
dropped an additional 39 points during the day.
Formerly high-flying
sectors like consumer discretionary (NYSEArca: XLY - News), industrials (NYSEArca: XLI - News), materials (NYSEArca: XLB - News), retail (NYSEArca: XRT - News) and technology (NYSEArca: XLK - News) followed suit. The S&P
(SNP: ^GSPC) dropped 23 points and the Dow (DJI: ^DJI) 177 points.
About two weeks later,
the Japan Earthquake news rocked the world and saw another wave of selling. But,
the S&P never closed below the 1,255 support and triggered a low-risk buy
signal the week of March 14 (March 20, ETF Profit Strategy Update).
The up side target was
outlined in the April 3 update of the newsletter: 'There is a fairly strong
Fibonacci projection resistance at 1,369. In terms of resistance levels, the
1,369 - 1,xxx (reserved for subscribers) range is a strong candidate for a
reversal of potentially historic proportions.'
Bearish Case, Not
Closed Yet
The S&P climbed as
high as 1,370 and has since dropped as much as 110 points. But once again,
support surrounding the 1,255 level has not been breached.
In fact investor
sentiment turned decisively bearish when the S&P clocked in at 1,259. The
June 17 ETF Profit Strategy Newsletter summed the sentiment picture up as
follows: 'It's soo bad, it's good. We expect at the very least a relief rally.'
This rally came and
frizzled away over the last three trading days. Can it last?
The Presidential
Election Cycle, which sports gang buster pre-elections year performance,
supports the idea of new highs later on in 2011. Naturally, the incumbent
President will do whatever he can to court Americans for their vote.
Financial Trickery
Shenanigans designed to
'bribe' investors include maneuvers like releasing a portion of the U.S.
Strategic Petroleum Reserve. According to the New York Times, tapping into the
oil reserve for frivolous reasons is a bad idea because the oil (NYSEArca: USO - News) will eventually have to be
replaced, usually at higher prices. But right now, the priority is to make
voters happy. Low gas prices will do just that.
Other financial tricks
include changing how the Consumer Price Index (CPI) is calculated. Lawmakers
are proposing to change the CPI methodology to include changed spending
patterns caused by price increase. For example, consumers tend to drive less
when gas prices increase.
This would artificially
lower the CPI and lower federal spending by around $220 billion over the next
decade. Passing such a proposal would surely be touted as a victory in the
battle against the debt ceiling while social security recipients see their
monthly checks shrink (social security payments are linked to the CPI).
Another trick is
'QE2-light'. Yes, even though QE2 is officially over, the Federal Reserve will
continue to reinvest maturing securities and buy Treasuries (NYSEArca: TLT - News) from banks (NYSEArca: KBE - News) at the rate of about $25
billion a month over the next year.
2011 Outlook
Quite frankly,
formulating a high confidence 2011 outlook right now is tricky (isn't it
always). But here is what we do know:
A major market top is
forming. The S&P reached the bottom end of our target range (1,369) and was
clearly rejected …’
Stocks fall
after Ireland downgrade erases gains
Proper
Risk Assessment Exposes A Rally's True Characterat Forbes William Scott O'Neil In our shop, trend-following is at the core
of our investing beliefs. We buy stocks when prices are trending up and sell or
sell short when prices are trending down. We also closely weigh the overall
balance between risk and reward in the market. Even though the last few weeks
have been the strongest short-term uptrend the market has had this year, my
optimism is guarded. The reason is risk.
Since the beginning of
the year, the risk factors have been piling up. When coupled with the
beginnings of a new downtrend back in June, I felt comfortable calling the
market top (See Is the Bull Market Over?). At that time, I also expected to see a
short-term bounce as a result of all the heavy selling and the recent increase
in bearish sentiment. Since then, the market has rallied, and a handful of
leaders have recently reasserted themselves. A few of these have notched new
highs.
This kind of situation
gives investors hope, and that hope can make them myopic. A strong two weeks
does not erase the persistent risk factors hanging over the market. Aside from
the factors discussed in my previous posts, here are some new developments:
Is the Bull Market Over? (more accurately, bull cycle in a secular bear
market – answer: Yes!) William Scott
O'Neil ‘On May 23, I posted an article on Intelligent Investing titled Is the Bull Market Topping? Since then I’ve continued to interpret the facts and
market action. Amidst persistent choppy gains and losses, I’m further convinced
of a downtrend.
In our shop, however, we
never dig in our heels when it comes to the stock market; we remain flexible in
our thinking. Quite frankly, I would love to have the market prove me wrong and
resume a meaningful uptrend. Remember, there is never really a bull or bear
side, just the right side.
However, my big concern
at this point is the lack of a catalyst. For the risk-reward ratio to improve
in our favor, I believe we need resolution on some of the more pressing
domestic and international issues. Some of the most respected minds in the
market have recently told me that, in all their years in the industry, they
have never seen so many major issues happening across the world at the same
time.
Certainly meaningful job
growth in this country would help. And the way to grow jobs is through the
creation and expansion of businesses, particularly small businesses. Small
business creates roughly 85% of all jobs in this country. We also have to
implement an effective solution to the real estate housing glut.
Studying the recovery
phase of the last seven major bear markets (those down 45% or more, peak to
trough), the average gain in year three was 3%. We are now in year three. So,
to me, the best-case scenario right now is a continuation of a sideways,
back-and-forth, volatile market, which is the most dangerous type.
A choppy market is much
more dangerous than a down trending market (assuming the investor uses selling
rules). Thus my interpretation of the risk-reward at this time is very, very poor.
We will inevitably get
several short-term bounces, but will they be significant enough to build
substantial positions over time?’
The next big hit to
the economy? The Lookout
| Disappearance of jobless benefits will take money out of circulation when
economic growth is seeking to gain some traction.
Moody's
downgrades Ireland debt to junk status
Trade gap
surges to nearly 3-year high on oil
James Turk: “Gold Is Our Defense Against the Fiat Currency Graveyard” Chris Martenson | Money printing is the order of the day.
US
trade deficit widens to more than $50bn in May BBC | Oil prices helped push imports
to the second highest level on record, while exports fell slightly from April’s
record high.
Stocks open
sharply lower on global fears AP
| Stock markets opening lower amid fresh fears about global economy.
Gold
In Euros At New Record As Fears Of European Contagion Get Worse Zero Hedge | Gold is trading at
$1,543.94/oz, €1,108.99/oz and £976.81/oz.
A
Bad Mood Has Descended On World Financial Markets The Economic Collapse | Have you
noticed that a really bad mood seems to have descended on world financial
markets?
Cisco To Fire 10,000
People Business Insider |
Cisco is planning to fire as many as 10,000 people, Bloomberg reports.
An
Explanation Of What Is Really Going On Behind The Scenes As Rome Burns Tyler Durden | Unable to keep with
the events in Europe which are now literally changing on an hourly basis? Fear
not.
National / World
Afghan CIA Drug Kingpin Shot Dead by Own Bodyguard Kurt Nimmo | ‘CIA has been in the
drug running business since the 1950s. Kurt Nimmo Infowars.com July 12, 2011
Ahmad Wali Karzai, the half brother of Afghan president Hamid
Karzai, was assassinated by one of his own bodyguards Tuesday morning. Friend
and trusted head of security Sardar Mohammed shot him in the head and chest.
Mohammed was in turn shot and killed by fellow bodyguards. The Taliban claimed
responsibility for the assassination.
In 2009 it was reported
that Karzai was a major player in the Afghan opium trade. According to reports,
other members of the Karzai family are involved
“head-to-heels” in the drug business.
Ahmad Wali Karzai also worked for the CIA.
“The CIA has been
complicit in the global drug trade for years,” a former intelligence official told Newsmax in 2002. “The CIA
did almost the identical thing during the Vietnam War, which had catastrophic
consequences – the increase in the heroin trade in the USA beginning in the
1970s is directly attributable to the CIA.”
According to a report in
Presscore, the
former Unocal employee Hamid Karzai and his family are heavily
involved in the CIA’s drug business.
“85 per cent of all
drugs produced in Afghanistan is being shipped aboard US aircraft. Foreign
diplomats have stated that the United States military buy drugs from local
Afghan drug lords who deal with field commanders overseeing eradication of drug
production,” states the report. The CIA provides protection for the enterprise.
The CIA has been in the
drug running business since the 1950s. In Burma,
Vietnam, Laos, Latin America, and Afghanistan, the CIA — also known as the
“Cocaine Import Agency” — has remained at the forefront of the international
illicit drug trade. The journalist Gary Webb and the San Jose Mercury News tied
the CIA and the Contras to a large crack cocaine ring in Los Angeles. Webb paid
with his life for revealing this information to the public.
Before the U.S. invaded
Afghanistan, the Taliban had imposed a ban on opium production. This resulted
in opium production collapsing by more than 90 per cent. It was the U.S.
supported Northern Alliance that came to the rescue and began protecting the
production of raw opium.
“CIA-supported
Mujahedeen rebels [who in 2001 were part of the Northern Alliance] engaged
heavily in drug trafficking while fighting against the Soviet-supported
government and its plans to reform the very backward Afghan society,” William Blum
writes in The Real Drug Lords.
In a Fox News report
aired in April of 2010, correspondent Geraldo Rivera interviewed a solder in Afghanistan who
admitted the U.S. allows the opium trade to flourish.
The corporate media has
provided propaganda for the CIA’s drug business. “Curbing the Taliban’s
multimillion dollar opium poppy business was a major goal of a military
operation to seize this former insurgent stronghold,” the Associated Press
reported in March of 2010. “If they destroy the crops and curb the trade, they lose
the support of the population — a problem for which they have no easy
solution.”
IN FACT, AS PREVIOUSLY
NOTED, THE TALIBAN BANNED OPIUM PRODUCTION AND ALMOST ELIMINATED THE
CROP A DECADE AGO.’
Book:
Julian Assange Held Back Wikileaks About U.S., Israel Prison Planet Live | Assange is
quoted as saying that negative cables concerning the United States and Israel
were deliberately omitted from initial Wikileaks releases last year to prevent
the organization being stereotyped as anti-American.
Indiana
latest US state to drop handwriting requirement BBC | The move is part of the Common
Core State Standards Initiative.
US
Official: No Tangible Evidence at Hand to Prove Iran’s Aid to Iraqi Militants
Fars News Agency | No
proof to substantiate allegations about Iran’s arms shipment to militant groups
in Iraq.
Debt
talks emphasize parties’ differences
Talks between the president and congressional Republicans grew more
contentious, as GOP leaders flatly rejected tax increases as part of a
bipartisan agreement to restrain the nation’s mounting debt. (Washington Post)
[ Geithner
says hard times to continue for many [ But not for his frauds on
wall street for whom everyone’s expected to keep sacrificing; and, ultimately
their negative churn-and-earn in real economic terms has to come from some
place, ie., you, yours, main street, etc., and has manifested in the QE’s,
etc.. Well, there you have it. The product of his, wobama et als’ policies;
viz., unhappy days are here again’ or, hard times for most are here to stay,
or, you get the picture, your pain their gain.
Panetta appears to link al-Qaeda presence with Iraq
invasion Washington Post |
Defense Secretary Leon Panetta on Monday appeared to justify the U.S. invasion
of Iraq as part of the war against al-Qaeda.
Panetta:
Al-Qaeda defeat near Afghan
guard fatally shoots NATO soldier (Washington Post) [ Riiiiight! And, you
can take that to america’s bankrupt treasury as we hear this same regurgitation
for the umpteenth time from california’s own pinyata pinhead panetta. The
problem with such an outlandish boast which of course is lost on ‘wobama the b’
(for b***s***)’s own pinyata is that you can’t defeat a good idea from their
legitimate perspective of resistance to tyranny/aggression. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt america also spends more on military
than all the nations of the world combined... fed employees / contractors, cia,
all 3 branches of u.s. gov’t, etc., are included in this evolved american trait
of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Europe’s
debt crisis sinks U.S. stocks
Markets fall sharply as investors fear crisis could spread from Greece
to larger countries like Italy and Spain. (Washington Post) [ If it was only
that, there’d be reason to cheer. I don’t even believe it’s really part that;
in that, this scenario was predicted even as the frauds on wall street latched
on to the spurious ‘wobama-like’ (b***s***) story that a
‘grecian formula’ was at hand so as to rally those computer-driven stock prices
for half / quarter / month end window dressing based as usual on fraud and
b***s*** alone to keep suckers sucked in to this suckin’ suckers market for
which the churn-and-earn is a net negative in real economic terms for everyone
but the frauds on wall street …IT'S
GOING TO HURT 'FOR LONG TIME TO COME' [ Says tiny tim … thanks
for the heads up tiny tim ‘God bless us
everyone’! … As if we didn’t already
know it / feel it! ]The frauds on wall street
et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! STOCKS
BARELY FALL AFTER MOUNTAIN OF BAD NEWS: Here's What You Need To Know Business Insider Weisenthal
Economic scenario far worse than expected (and in this pre-election year the
reality is still far worse than reported), yet stocks still rallied off lows to
keep suckers sucked in to this fraudulent market Click
here to see the new scariest jobs chart ever
http://www.businessinsider.com/details-from-the-awful-june-june-jobs-report-2011-7 > See all 12
charts from St Louis Fed: http://static8.businessinsider.com/image/4e1712edcadcbba25f030000-595-356/chart.jpg Stocks rally on
jersey-based, former Lautenberg ADP still paltry, better than expected 157,000
private jobs number and one’s got to wonder ‘who got paid’, one way or another,
for the fudge. Then there’s the horrific ‘american tech’. Retail? The defacto
bankrupt government’s probably buying with money they don’t have, at best; and,
as with other data in these desperate pre-election-year times, plain false,
falsified, fudged, spun. Previous day, all bad news … from eurozone (protugal,
et als), to asia zone (china worse than expected), to america (where to begin,
from defacto bankruptcy, to debased currency, to insurmountable debt / dervice,
to pervasive corruption, etc.) … stocks rally on fraud and b***s*** alone. Previous, higher oil price rally, along with Netflix
‘technology rally’ … Don’t make me laugh! … Total desperation on wall street
and in Washington … How pathetic! … Jobless claims at 428,000 much worse than expected;
and, don’t forget, these are desperate ‘pre-election times’ when regardless of
factual reality (ie., fake reports, data, as, ie., ‘wobama hometown’ corrupt
chicago ISM is up as even their youth gangs are showing increased criminal
activity which probably accounts for the rise; ie., meth, crack labs, etc.?)
data / reports are fudged / faked / spun. Foreclosure,
distressed sales up, at least on paper with contracts signed, so no surprise
nor reason to cheer here, as markets worldwide jump on the american crazy train
for a short-lived bounce as all problems remain. This
is the same month end (and quarter, half) spurt / window dressing based on
b***s*** alone to keep the suckers suckered and an especially great time to
sell / take profits since there’s much worse to come! Talk about milking the
greek crisis for the umpteenth time a so-called solution (and there are loads
of greecy scenarios worldwide … I don’t
think so and neither does Schaeffer who says: ‘…even once such a package is passed it only buys
time. Actually fixing the fiscal condition of Greece is not something that can
be solved in a matter of weeks, or even months…‘ but
it’s great press for the churn and earn and to keep the suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into.
This is an especially great opportunity to sell / take profits while you still
can since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says Market
Crash 6/30/11?Technical indicators suggest market collapse may begin by June
30th Dennis Slothower is one of the world’s leading technical analysts. He’s
one of the few advisors whose readers completely avoided ALL losses during the
disaster that was 2008. And now he’s issuing another dire warning. His
technical indicators suggest that the market manipulation we’ve seen over the
last several months is about to come to an end…and that means thousands of
investors are about to get clobbered. This correction could begin as soon
as June 30th– so it’s important that you take
action now to prepare yourself. StealthStocksOnline.com STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes / Maureen
Farrell
Milbank:
Boehner stuck in a bind (Washington
Post) [ Riiiiight! It seems that wobama apologist, Mr. Milbank is beginning to share
those ‘democrat wet dreams’; you know, the ones where republicans are all tied
up with nowhere to go; those perverse ‘bind and torture fantasies’. Never mind
that this pervasively corrupt nation is indeed defacto bankrupt, with few real
and realistic choices. The real ‘kicker’ here is the fact of this ‘pre-election
year’ which complicates all candor and reality. Ultimately, owing to wobama’s
mendacity, it’s the nation that’s in the bind. Geithner
says hard times to continue for many
But not for his frauds on wall street for whom everyone’s expected to
keep sacrificing; and, ultimately their negative churn-and-earn in real
economic terms has to come from some place, ie., you, yours, main street, etc.,
and has manifested in the QE’s, etc.. Well, there you have it. The product of
his, wobama et als’ policies; viz., unhappy days are here again’ or, hard times
for most are here to stay, or, you get the picture, your pain their gain. Fed
Can Manipulate Markets, But Can't Reverse Economy at Minyanville Toby Connor Jul
11, 2011 ‘I believe that we have begun the topping process of this cyclical
bull market [ in this secular bear market ]. In a healthy market an
intermediate decline is a profit-taking event after a significant leg up. It
should hold well above the prior intermediate bottom. The decline into the June
low was not a profit-taking event. The market had not rallied long enough or
far enough to warrant an intermediate correction and certainly not one that
would test the March lows. The decline in May and June was the first shot
across the bow that something was wrong with the fundamentals driving this
market.
Now let me be clear, I don't recommend anyone sell short the market. All I'm
saying is it's too late to have retirement funds positioned long at this time.
Asset appreciation is the Fed’s stated third mandate. Bernanke is going to
fight the bear tooth and nail. There will be continued interventions into the
markets. The rules will be changed as we go. Anything and everything will be
tried to keep stock and bond markets levitated. That is not the kind of
environment conducive to making consistent gains on the short side. That is the
kind of environment that can and will whipsaw traders to death.
Even in a market free of intervention the topping process is always volatile
and dangerous. But in a market that is being actively managed it is especially
dangerous on the short side. Case in point -- the June bottom was way too early
for a final intermediate bottom.
As I've said before, we should have seen a counter trend bounce to relieve
sentiment extremes followed by another leg down into a more lasting bottom.
Unfortunately that was not allowed to happen. The powers that be manufactured
an explosive rally on the low volume pre-holiday week in an attempt to create a
massive momentum move ahead of the end of QE2 that would be hard to turn
around. Needless to say Bernanke didn't want a repeat of last year when QE1
ended.
http://image.minyanville.com/assets/FCK_Jan2011/Image/July11/1-spx%20new%20bearb.JPG
Click
to enlarge
The Fed can temporarily turn the markets higher but what they cannot do is
reverse the economy. I said when QE1 began that no amount of printing or
stimulus would stop the underlying cancer in the economy. All it would do is
create a brief reprieve which would be followed by an even deeper and more
severe recession once the sugar high wore off.
The simple fact is that we cannot cure a problem of too much borrowing and too
much spending with more borrowing and more spending. We tried this in the `30's
and it caused a 15 year depression. Japan tried it and it led to two lost
decades.
The cure is to bite the bullet and allow the deleveraging process to run its
course. Yes it will be painful. We've put this off for so long that it isn't
just going to be painful it's going to be catastrophic. But the longer we kick
the can down the road the worse the endgame becomes. The only ray of sunshine I
can offer is that if we let the markets work they will complete the
deleveraging process fairly quickly. Within 2 to 3 years the world can be back
on a sustainable path of growth. Continue to fight this and we could be stuck
in an on-again off-again recession for another 20 years with the final end game
collapse so devastating that it will make the Great Depression look like a
picnic.
The last two employment reports are clearly showing that the economy is
slipping back into recession. I suspect by August the employment report could,
and probably will, turn negative. All the manufactured rallies in the world
cannot prop up the stock market if the economy is rolling over into another
recession. They can postpone the inevitable only so long and ultimately will
just make the bear that much more severe.
The Fed's efforts have only extended the topping process, they haven't stopped
it.’]
Obama
rules out short-term debt-ceiling deal Facing a bitter stalemate over how
to raise the federal borrowing limit, President Obama summoned
congressional leaders to a new round of talks and warned that he would not
accept a stopgap measure. (Washington Post) [ Drudgereport: Protesters
burn American flag during Obama visit to Puerto Rico -- a
U.S. territory... [ I find even his retirement costs
objectionable. Obama: My
family is ‘fine’ with one term Politico
| President Barack Obama says his family is “not invested” in a second term.
The unctuous pandering by the wobamas is nauseating. And, michele’s fundraisers?
What’s up with that? Wobama’s such a glomming golem / slug. Obama
says if he were Weiner, he’d resign
President Obama on Monday waded into the debate over whether embattled
Rep. Anthony Weiner should step down, saying, “If it was me, I would resign..Barack Obama: The
Naked Emperor Shocking but true revelations from David Icke| ..Obama is
just more of the same, a big smile with strings attached, and controlled
completely by those that chose him, trained him, sold him and provided his
record funding, kept his many skeletons under wraps, like the gay sex and crack
cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to
be with your Presidential camp, who is alleged to claim that someone claiming
to represent me called asking for $100,000, to keep me from coming forward
about our (Obama and I) November 1999 encounter of sex and cocaine use?), ...
Obama is just another Banksters' moll prostituting himself .., and that's why
he supported the grotesque bail-out of the banking system and why he will
always put their interests before the people. ] http://albertpeia.com/obamadeceptionhighqualityversion.flv Stocks
sink after bleak jobs report A much weaker-than-anticipated unemployment
report indicates that the economy is still struggling. (Washington Post) [
Sink? I don’t think so? Why not, and why the rally into close regardless of the
dismal reality? Well, that’s the miracle of computer programmed high-frequency
trading; then there’s also the more blatant fraud. Oh, stocks will indeed sink,
because economic prospects really do stink! Sink like a rock, or like Iraq! The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! STOCKS
BARELY FALL AFTER MOUNTAIN OF BAD NEWS: Here's What You Need To Know Business Insider Weisenthal
Economic scenario far worse than expected (and in this pre-election year the
reality is still far worse than reported), yet stocks still rallied off lows to
keep suckers sucked in to this fraudulent market Click
here to see the new scariest jobs chart ever
http://www.businessinsider.com/details-from-the-awful-june-june-jobs-report-2011-7 > See all 12
charts from St Louis Fed: http://static8.businessinsider.com/image/4e1712edcadcbba25f030000-595-356/chart.jpg Stocks rally on
jersey-based, former Lautenberg ADP still paltry, better than expected 157,000
private jobs number and one’s got to wonder ‘who got paid’, one way or another,
for the fudge. Then there’s the horrific ‘american tech’. Retail? The defacto
bankrupt government’s probably buying with money they don’t have, at best; and,
as with other data in these desperate pre-election-year times, plain false,
falsified, fudged, spun. Previous day, all bad news … from eurozone (protugal,
et als), to asia zone (china worse than expected), to america (where to begin,
from defacto bankruptcy, to debased currency, to insurmountable debt / dervice,
to pervasive corruption, etc.) … stocks rally on fraud and b***s*** alone.
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Minyanville's
T3 Daily Recap: Italian debt worries take US markets lower ‘US markets saw a sell-off with the SPDR S&P ETF (SPY)
falling 2%, its largest 2-day decline since March, as European debt worries
continued to grow and US lawmakers let another day pass without cutting the
deficit or raising the debt ceiling.
The day started off on a disappointing note with US futures negative before the
opening bell; markets all over the world were dragged lower by weakness in
European banks and Italian stocks.
The costs of insuring Italian and Spanish debt soared to all-time levels in the
euro currency era, bringing selling pressure to Italian stocks despite recent
curbs on short-selling.
At the open, leading stocks LinkedIn (LNKD), Apple (AAPL)
and Lululemon Athletica (LULU)
all saw buyers and tried to rally the broad market, in the same manner seen
during Friday’s open. Even Netflix (NFLX)
briefly touched new 52-week highs. However, the weakness in commodity related
names as investors flocked to the US dollar, eventually dragged the market to
fresh intra-day lows.
The early strength in the US dollar caused selling in copper and crude oil
before the open on fears the economies of the two largest crude consuming
countries are decelerating following recent data
showed slowing US job creation and Chinese imports. The SPDR Gold Trust (GLD) and
iShares Silver Trust (SLV) got early
support from investors seeking a safe haven from the Euro currency,
but silver faded with crude oil into the close while gold finished near highs.
Commodity-related leaders to the downside include mining stocks Walter Energy (WLT) and
AK Steel Holdings (AKS)
closing down over 4% ahead of Alcoa (AA) earnings.
Occidental Petroleum (OXY)
and Range Resources (RRC)
were among the oil stock laggards, losing over 4% on the session. Mosaic (MOS) dropped
nearly 5% to lead agricultural stocks lower.
Chinese internet stocks Renren (RENN), China
Dangdang (DANG) and Sina
(SINA)
all sank over 7%, showing relative weakness after demonstrating strength for
the last two weeks. It's possible that reports saying Chinese inflation for
June advanced at the fastest pace in three years may have added to downside
selling pressure.
Finally, you have US banks heading lower, closing just off lows to end the
session, led lower by Citigroup (C), which was
down 5% since the bank has the largest exposure to Europe among US banks.
Investors may look for a bounce in the markets tomorrow, following Alcoa's (AA)
reported second-quarter results; earnings more than doubled on continued growth
in prices and volume.’
Nasdaq 2802.62 (-2.00%)
NYSE 8228.73 (-2.16%)
AMEX 2377.48 (-1.85%)
S&P 500 1319.49 (-1.81%) US Oil Fund 37.29 (-1.35%)
USD EUR CAD MXN |
1 USD= 1.000 0.712 0.969 11.747 |
1 EUR= 1.405 1.000 1.361 16.501 |
1 CAD= 1.032 0.735 1.000 12.127 |
1 MXN= 0.085
0.061 0.082 1.000 |
Retirees Should Have More
Annuities, Fewer Stocks Equities should be no more than
25% of your portfolio, says Robert Powell.
Large
Banks Responsible for Mortgage Disaster Might Be Able to Buy Immunity for $30
Billion cryptogon.com |
Hell, why bother spending any money on a settlement? If nobody from Lehman went
down—fuggetaboutit.
Whatever
Happens, Commodities Win: Jim Rogers CNBC
| Jim Rogers, the CEO and Chairman of Rogers Holdings, told
CNBC that no matter what happens to the global economy, he will make money with
his commodity positions.
What An
American Bank Run Would Look Like Tyler
Durden | Technically the title of this post is wrong: the truth
is that nobody could possibly know or predict what a bank run would looks like.
EU
calls emergency meeting as crisis stalks Italy Reuters | European Council President
Herman Van Rompuy has called an emergency meeting of top officials dealing with
the euro zone debt crisis for Monday morning.
Stocks open
sharply lower on global fears AP
| Stock markets opening lower amid fresh fears about global economy.
Uh
Oh – Italy Is Coming Apart Like A 20 Dollar Suit The Economic Collapse | Did anyone
really think that Italy would be able to get through this thing without needing
a bailout?
Geithner:
“[For A Lot of People] It’s Going to Feel Very Hard, Harder than Anything
They’ve Experienced in Their Lifetime Now, For a Long Time to Come” Washington’s
Blog | Many Americans will face hard times for a long time to
come.
U.S.
Must Borrow Another $5,240 Per Household Just to Fund Gov’t at Current Level
Through Sept. 30 CNS News
| According to the CBO’s latest estimate of the fiscal 2011 deficit and the
Treasury Department’s latest accounting of the federal debt.
Geithner:
Americans will face hard times for a long time to come Washington’s Blog | Geithner has been
a big part of the problem.
Stocks
sink after bleak jobs report A much weaker-than-anticipated unemployment
report indicates that the economy is still struggling. (Washington Post) [
Sink? I don’t think so? Why not, and why the rally into close regardless of the
dismal reality? Well, that’s the miracle of computer programmed high-frequency
trading; then there’s also the more blatant fraud. Oh, stocks will indeed sink,
because economic prospects really do stink! Sink like a rock, or like Iraq! The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! STOCKS
BARELY FALL AFTER MOUNTAIN OF BAD NEWS: Here's What You Need To Know Business Insider Weisenthal
Economic scenario far worse than expected (and in this pre-election year the reality
is still far worse than reported), yet stocks still rallied off lows to keep
suckers sucked in to this fraudulent market
Click
here to see the new scariest jobs chart ever
http://www.businessinsider.com/details-from-the-awful-june-june-jobs-report-2011-7 > See all 12
charts from St Louis Fed: http://static8.businessinsider.com/image/4e1712edcadcbba25f030000-595-356/chart.jpg Stocks rally on
jersey-based, former Lautenberg ADP still paltry, better than expected 157,000
private jobs number and one’s got to wonder ‘who got paid’, one way or another,
for the fudge. Then there’s the horrific ‘american tech’. Retail? The defacto
bankrupt government’s probably buying with money they don’t have, at best; and,
as with other data in these desperate pre-election-year times, plain false,
falsified, fudged, spun. Previous day, all bad news … from eurozone (protugal,
et als), to asia zone (china worse than expected), to america (where to begin,
from defacto bankruptcy, to debased currency, to insurmountable debt / dervice,
to pervasive corruption, etc.) … stocks rally on fraud and b***s*** alone. Previous, higher oil price rally, along with Netflix
‘technology rally’ … Don’t make me laugh! … Total desperation on wall street
and in Washington … How pathetic! … Jobless claims at 428,000 much worse than expected;
and, don’t forget, these are desperate ‘pre-election times’ when regardless of
factual reality (ie., fake reports, data, as, ie., ‘wobama hometown’ corrupt
chicago ISM is up as even their youth gangs are showing increased criminal
activity which probably accounts for the rise; ie., meth, crack labs, etc.?)
data / reports are fudged / faked / spun. Foreclosure,
distressed sales up, at least on paper with contracts signed, so no surprise
nor reason to cheer here, as markets worldwide jump on the american crazy train
for a short-lived bounce as all problems remain. This
is the same month end (and quarter, half) spurt / window dressing based on
b***s*** alone to keep the suckers suckered and an especially great time to
sell / take profits since there’s much worse to come! Talk about milking the
greek crisis for the umpteenth time a so-called solution (and there are loads
of greecy scenarios worldwide … I don’t
think so and neither does Schaeffer who says: ‘…even once such a package is passed it only buys
time. Actually fixing the fiscal condition of Greece is not something that can
be solved in a matter of weeks, or even months…‘ but
it’s great press for the churn and earn and to keep the suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘Albert Edwards: Thinks the
Market Could Fall 70%’ PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Lenzner Another
Financial Crisis Is On The Way, Mobius Says
Market Crash 6/30/11?Technical
indicators suggest market collapse may begin by June 30th Dennis Slothower is
one of the world’s leading technical analysts. He’s one of the few advisors
whose readers completely avoided ALL losses during the disaster that was 2008.
And now he’s issuing another dire warning… STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating long-term
economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell
Watching A Flatlining
Economy Bob Chapman
| Government debt will be in the vicinity of $1.5 trillion this year.
National / World
Panetta appears to link al-Qaeda presence with Iraq
invasion Washington Post | Defense Secretary Leon Panetta on Monday appeared to justify the U.S.
invasion of Iraq as part of the war against al-Qaeda. Panetta:
Al-Qaeda defeat near Afghan
guard fatally shoots NATO soldier (Washington Post) [ Riiiiight! And, you
can take that to america’s bankrupt treasury as we hear this same regurgitation
for the umpteenth time from california’s own pinyata pinhead panetta. The
problem with such an outlandish boast which of course is lost on ‘wobama the b’
(for b***s***)’s own pinyata is that you can’t defeat a good idea from their
legitimate perspective of resistance to tyranny/aggression. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (WP) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt america also spends more on military
than all the nations of the world combined... fed employees / contractors, cia,
all 3 branches of u.s. gov’t, etc., are included in this evolved american trait
of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
Leaders
pressured in debt talks Rank-and-file lawmakers from both parties issue a
warning: Don’t take my vote for granted. Boehner:
No 'imminent deal' on debt Senate
Democrats draft debt-reduction plan Dems
incensed over proposed Social Security cuts (Washington Post) [Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it
must be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she
look pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan
on debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which
means like Greecey PIIGS they’ll be back to the trough for more … slop … py … Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There
is no fixing this and even a Republican said you can’t fool all of the people
all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Paul B. Farrell: 7 reasons U.S. needs a Good Depression now By Paul
B. Farrell, MarketWatch SAN LUIS
OBISPO, Calif. (MarketWatch) — ‘No, do not raise the debt-ceiling. You heard
me: Block the debt ceiling vote. Don’t raise it. America’s out-of-control. A
debt addict. Time to detox. Deal with the collateral damage before it’s too
late.
We need to fix America’s
looming credit default, failing economy and our screwed-up banking system. Now,
with a Good Depression. If we just kick the can down the road one more time,
we’ll be trapped into repeating our 1930’s tragedy, a second Great Depression.
The U.S. needs to invest
in a massive public works program, and rich people and corporations should pay
more taxes. Barton Biggs, of Traxis Partners, shares his views with the Simon
Constable.
Yes, depression.
Spelled: d-e-p-r-e-s-s-i-o-n. Wake up America, recessions do not work. Won’t
work in the future. Remember that 30-month recession after the dot-com crash?
Didn’t work. Why? Because in the decade since that 2000 peak, Wall Street’s lost
an inflation–adjusted 20% of America’s retirement money.
And what about the
so-called Great Recession of the 2008 credit meltdown? Didn’t work either. In
fact, made matters worse: Wall Street got richer by stealing from the other 98%
of Americans, the middle class, the poor. And now their conservative puppets in
Washington want to make matters worse, widening the wealth gap further to
benefit the Super Rich.
Seems nobody really
gives a damn about our great nation any more. America’s now a capitalists
anarchy: “Every (rich) man for himself.” Proxy battles are fought by
high-priced lobbyists in a broken political system. America needs a 21-gun
wake-up call. Yes, that’s why America needs a Good Depression. The economy’s
bad now. But kicking the can down the road again will make matters much worse
later.
This is not our first
call for a Good Depression. As early as 2005 we began reporting on excessive
debt. In November 2007 we warned of a crash dead ahead. The subprime credit
meltdown had been accelerating for many months, although for a year our leaders
kept misleading Americans: Fed Chairman Ben Bernanke’s “it’s under control.”
Treasury Secretary Henry Paulson’s delusional “best economy I’ve ever seen in
my lifetime.”
In August 2008 came the
original of our seven reasons why America needs a Good Depression. Yes August,
just two months before Wall Street banks collapsed into de facto bankruptcy,
after many warnings predicting a crisis. This was no Black Swan. In September
2008 we reported on Naomi Klein, author of “Shock Doctrine: The Rise of
Disaster Capitalism,” warning of Wall Street’s insidious plan to take over
America:
“Nobody should believe
the overblown claims that the market crisis signals the death of ‘free market’
ideology.” Then as the meltdown went nuclear, Klein warned: “Free market
ideology has always been a servant to the interests of capital, and its
presence ebbs and flows depending on its usefulness to those interests. During
boom times, it’s profitable to preach laissez faire, because an absentee
government allows speculative bubbles to inflate.”
But “when those bubbles
burst, the ideology becomes a hindrance, and it goes dormant while big
government rides to the rescue. But rest assured,” she predicted, Reaganomics
“ideology will come roaring back when the bailouts are done. The massive debts
the public is accumulating to bail out the speculators will then become part of
a global budget crisis that will be the rationalization for deep cuts to social
programs, and for a renewed push to privatize.”
Yes, all was
predictable: The events of the past few years were well known in advance. In
fact, the events of the entire decade were predictable. The rich got richer off
the backs of the middle class and the poor. Why? “There’s class warfare all
right,” warns Warren Buffett. “But it’s my class, the rich class, that’s making
war, and we’re winning.”
And they are also blind
and deaf to the havoc their free-market Reaganomics policies are creating,
selfishly undermining America, the world’s greatest economic power.
Lessons learned? Zero.
Why? Wall Street, Washington and Corporate America are focused on one narrow-minded
short-term strategy: Economic g-r-o-w-t-h, bull markets, megabonuses, tax cuts.
In good times they tout “free markets.” But when greed bombs, they throw
free-market “principles” under the Reagan Revolution bus and unleash their
mercenary lobbyists to go whining to Congress for huge taxpayer bailouts and
access at the Fed discount window, to siphon off more taxpayer money. And
they’ll do it again soon,
Wall Street and their
cronies are doing such a miserable job, America needs a new strategy: First, stop
“kicking the can down the road.” Let a good old-fashioned Good Depression do
the job that our hapless, happy-talking leaders refuse to do. Take our
medicine. Let a new depression clean house and reawaken Americans to core
values.
Trust me folks, it’s either
a Good Depression now … or a Great Depression 2. Here are seven reasons
favoring the do-it-now strategy:
What’s the real problem?
Not the economy, not markets, nor even politics. Yes, our economic pains are
real. But they’re just symptoms. Something’s structural wrong. Since 2000
endless bad news: Greed, deceit, stupidity, corruption, unethical behavior,
lack of moral conscience.
The real problem’s deep
in our character, the “mutant capitalism” Jack Bogle warned of in “The Battle
for the Soul of Capitalism.” Sadly, that battle was lost. With it we lost our
soul, our moral compass. America’s character is measured by our net worth.
Comparing today with the
Great Depression is common sport. In a Newsweek special “Seeing Shades of the
1930s,” Dan Gross wrote: “Wall Street, after two terms of a business-friendly
Republican president, self-immolated on a pyre of greed, incompetence and
excessive optimism.” Today’s “new normal” economy means high unemployment for
years, inflation driving prices, rising interest rates, more debt, chaos.
We are destroying
ourselves from within. Former U.S. Comptroller General David Walker warns that “there
are striking similarities between America’s current situation and that of
another great power from the past: Rome.” Three reasons “worth remembering:
declining moral values and political civility at home, an overconfident and
overextended military in foreign lands, and fiscal irresponsibility by the
central government.” We are becoming more vulnerable to external enemies.
Before the 2008 crash,
“Irrational Exuberance” author Robert Shiller warned in the Atlantic magazine
that “bubbles are primarily social phenomena. Until we understand and address
the psychology that fuels them, they’re going to keep forming.” Housing
inflated 85% in the decade: “Historically unprecedented … no rational basis for
it.”
Bubble thinking is an
toxic virus that infected everyone. Shiller warns of another coming: “We
recently lived through two epidemics of excessive financial optimism … we are
close to a third episode.”
Writing in the Wall
Street Journal, Jim Grant, editor of the Interest Rate Observer, wrote: “Why No
Outrage? Through history, outrageous financial behavior has been met with
outrage. But today Wall Street’s damaging recklessness has been met with
near-silence, from a too tolerant populace.” Grant worries that Wall Street
will run “itself and the rest of the American financial system right over a
cliff.”
But we only went to the
edge in 2008. Today, a rebellious “throw the bums out” hostility is blowing a
new kind of bubble: Three years ago we did not have Tea Party, union fights,
the Arab Spring and Greek austerity riots, all signs of an dark angry future
sweeping across America.
In a powerful Bloomberg
Markets feature, “No Easy Fix,” we’re told Wall Street’s “profit formula has
hit a wall.” Their “money-making machine is broken and efforts to repair it
after the biggest losses in history are likely to undermine profits.”
Even Mad Money’s Jim
Cramer openly admits hedge fund managers are pocketing megaprofits at capital
gains rates while laughing at the stupidity of a broken political system that
gives hundreds of billions in tax breaks to the richest, then takes taxes off
the table as our middle class is dying under massive unsustainable deficits.
Soon angry mobs will “fix” Wall Street.
The American economy is
a “war economy” driven by a egomaniac. I saw it firsthand as a U.S. Marine.
Americans love being king of the hill, world’s cop, the global superpower. Why
else spend 54% of our tax dollars on a war machine, 47% of the world’s total
military budgets.
Why? Our war machine
generates such “spectacular profits that many people around the world” are
convinced America’s “rich and powerful must be deliberately causing
catastrophes so that they can exploit them,” warns Klein in “Shock Doctrine.”
No wonder the GOP takes military spending, like tax cuts for the rich,
off-the-table: The war industry is a major political donor.
In “The Price of
Liberty: Paying for America’s Wars,” Robert Hormats, undersecretary of state
and a former Goldman Sachs vice chairman, traces America’s wartime financing
from the Revolutionary War to present wars. He warns that today we’re “relying
on faith over experience, hoping that sustained growth will erase deficits and
that the ballooning costs of Social Security, Medicare and Medicaid will be
manageable in the coming decades without difficult reforms.”
Absent a brutal reset,
we are on a historically predictable course says Kevin Phillips, Nixon
strategist and author of “Wealth & Democracy:” “Most great nations, at the
peak of their economic power, become arrogant and wage great world wars at
great cost, wasting vast resources, taking on huge debt, and ultimately burning
themselves out.” Yes, burned out, unprepared.
So pray for a Good
Depression earlier rather than later. Choose now and we can be prepared for
whatever comes. Or a Great Depression will hit later, when we’re least
prepared, the problems bigger, our faith weaker … don’t raise the debt
ceiling.’
William
and Kate land in California
(Washington Post) [ Drudgereport: THEY'RE
HERE! [ Uh! That ‘nausea’ factor; though not nearly of the magnitude
of america’s unctuous duo, ‘wobama the b’ (for b***s***) and michelle his belle
(see infra). After all, the cloyingly cutesy couple from across the pond is
hardly in a position to do damage as are the wobamas. Yet, one must ask: just
what exactly are they? Mascots? Non-emmissary emissaries? Indeed, in this
economy it’s quite embarrassing for members of the so-called commonwealth,
struggling economically and otherwise, england/uk being no exception (royals
wealth’ is ultimately the product of common expense) to be celebrating
celebrity for the sake of nothing more than celebrity. Worse is the pathetic
display here in the defacto bankrupt disunited states (uk not much better and
in many ways worse) relative to their former colonial masters. Then there was
that ostentatious marriage display so well publicized even as the uk’s (eu,
u.s. et als) ‘rank and file’ are sacrificing and the respective nation states
crumbling. Even so-called celebrities here shun such meaningless displays of
themselves and at least serve a cinematic (art form) purpose. Truth be told, I
bear them no ill will; but, I bear them no good will either. After all, quite
simply, they are but a meaningless, extravagantly costly welfare couple that
are simply irrelevant. How pathetic and embarrassing for their fans, followers,
onlookers and their liege. And, though I’m biased (I think Grace Kelly to have
been the most exquisite of creatures to have graced this earth – Alfred
Hitchcock with an eye for such things thought so too and said as much), clearly
Prince Albert of Monaco and his bride’s wedding was tastefully and not
cloyingly about right. Now that’s real royalty via Grace Kelly; with a purpose;
the management / leadership of a prime travel / gambling / entertainment /
resort destination; viz., Monaco. ] Princess
Diana Conspiracy Movie Headed to Theaters... [ British
queen arrives in Ireland Queen Elizabeth II’s visit overshadowed by
security scares. (Washington Post) [ ‘How sweet she is’ … that ‘sweet liz’ …
that is … Diana
film causes stir at Cannes “Unlawful
Killing” has a combination of celebrity, controversy and canny hype-mongering.
(Washington Post) [ Let’s not kid
ourselves … and, Dodi Fayed’s father was no dope and knew the score. Indeed,
it’s not coincidental that William’s the over-riding favorite of granny Liz II;
after all, Harry’s the bastard son of Hewitt (don’t buy into their DNA proffer
which they did buy – you know, that ‘bloodline thing’). Moreover, it was
reported that Diana had another ‘potential challenger in the oven’ at the time
of her death and we all know how dicey such english affairs of state can be
(ie., Henry VIII, Richard III, etc.). Then there’s the contempt of Diana for
having brought the son of her bosom, Chas, down. Do I think she said flat out
‘kill Diana’. No … more of a ‘do what’s necessary’ to mi6 et als. Ultimately,
William will require some substantial therapy to sort out this looming
conflict. After all, Diana was his mother.
Drudgereport: British
woman decapitated in grocery store; killer flees with head... Cannes:
Diana doc slams UK royals as 'gangsters'... ]
Drudgereport: Protesters
burn American flag during Obama visit to Puerto Rico -- a
U.S. territory... [ I find even his retirement costs
objectionable. Obama: My
family is ‘fine’ with one term Politico
| President Barack Obama says his family is “not invested” in a second term.
The unctuous pandering by the wobamas is nauseating. And, michele’s
fundraisers? What’s up with that? Wobama’s such a glomming golem / slug. Obama
says if he were Weiner, he’d resign
President Obama on Monday waded into the debate over whether embattled
Rep. Anthony Weiner should step down, saying, “If it was me, I would resign..Barack Obama: The
Naked Emperor Shocking but true revelations from David Icke| ..Obama is
just more of the same, a big smile with strings attached, and controlled
completely by those that chose him, trained him, sold him and provided his
record funding, kept his many skeletons under wraps, like the gay sex and crack
cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to
be with your Presidential camp, who is alleged to claim that someone claiming
to represent me called asking for $100,000, to keep me from coming forward
about our (Obama and I) November 1999 encounter of sex and cocaine use?), ...
Obama is just another Banksters' moll prostituting himself .., and that's why
he supported the grotesque bail-out of the banking system and why he will
always put their interests before the people. ] http://albertpeia.com/obamadeceptionhighqualityversion.flv
Fluoride
consumption leads to brain damage, says study Natural News | It is becoming
increasingly difficult for fluoride fanatics to defend the practice of
artificial water fluoridation, thanks to a plethora of new reports highlighting
its many dangers.
War
Declared on "War on Salt"at
Minyanville
NASA astronauts trial urine sports drink
Sydney Morning Herald The crew of Atlantis, the final mission of
the US space shuttle program, are testing a urine recycling system developed by
NASA that is capable of turning astronauts' pee into a tasty sports drink. [
This story’s a ‘real pisser’! Yuk! ]
Senate
Dems draft debt-reduction plan Proposal would slice $4 trillion over the
next decade without touching expensive programs. (Washington Post) [ Oooooh …
riiiiight! Over 10 years … that’ll happen; you can rely on them to do it …
Not!. Deficit
flip-flop Obama goes from do-nothing to demagogue. (Washington Post) [
Well, if the shoe fits … (it does) … (he) wear(s) it … Come on! Nothing ‘wobama
the b’ (for b***s***) says has meaning or substance beyond the ephemeral
soundbite. He’s a totally failed president, like dumbya bush et als before him
and in many ways worse owing to his penchant for lending ‘no meaning’ to his
words. He’s pathetic! That’s reality! He’s totally incompetent like those
others before him and lacks even basic understanding of the core issues
confronting the nation (ie., economics, finance, and, surprisingly since it’s
the easiest to fare well at owing to pervasively corrupt-defacto-bankrupt
america’s (though rapidly declining) position, global geopolitics. Unconstitutional
for Obama to Raise Debt Ceiling Without Congress Peter Roff ‘Alibi’
Obama Who is best to run against the president and his excuses? (Washington
Post) [ Yeah! Really quite true! Wobama the b (for b***s***) is all excuses,
all b***s***. But, don’t strain yourself. It really doesn’t matter since
wobama’s a failed president whose failure speaks for himself (and his
teleprompter). As such, it matters very little who, since whoever, beats wobama
hands down. He has a record of failure and actions that have consistently
belied his words. Indeed, wobama’s a fraud in the inducement (campaign
promises) and a fraud in the factum (in fact). As failed as dumbya bush,
there’s a nausea factor that’s become attached to wobama(s) like no other(s). Drudgereport: POLL:
Obama 42%, any
Republican 46%...
OBAMA:
LET'S STAY IN IRAQ...
FLASHBACK:
'I intend to remove all U.S. troops from Iraq by the end of 2011'...
Campaign
signals fundraising fail...
UPDATE:
Minnesota Government Shuts Down...
Washington
state closes tourism office...
Florida
state workers get pink slips, more cuts ahead...
FEDS STRIKE DOWN STATE'S BAN ON RACE CONSIDERATION IN COLLEGE ADMISSIONS...
SoCal
Looks to Secede from California...
REPORT:
U.S. Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement
Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
GETTING
NERVOUS
NEWT:
Obama 'most successful food stamp president in American history'... ]
Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in September
2002, the head of his economic policy council, Lawrence Lindsey publicly
estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Jobs
report dulls economic outlook Data challenge the idea that economy was held
back by temporary factors that occurred in the first few months of 2011.
(Washington Post) [ Oh come on! Let’s get real here and call a spade a spade!
This is pre-election year and as good as it gets. Then there’s the fudge / fake
/ false factors that require substantial discounting, if not disbelief of
anything they say (I don’t believe anything they say). The
frauds on wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed! STOCKS
BARELY FALL AFTER MOUNTAIN OF BAD NEWS: Here's What You Need To Know Business Insider Weisenthal Economic
scenario far worse than expected (and in this pre-election year the reality is
still far worse than reported), yet stocks still rallied off lows to keep
suckers sucked in to this fraudulent market
Click
here to see the new scariest jobs chart ever
http://www.businessinsider.com/details-from-the-awful-june-june-jobs-report-2011-7 > See all 12
charts from St Louis Fed: http://static8.businessinsider.com/image/4e1712edcadcbba25f030000-595-356/chart.jpg Stocks rally on
jersey-based, former Lautenberg ADP still paltry, better than expected 157,000
private jobs number and one’s got to wonder ‘who got paid’, one way or another,
for the fudge. Then there’s the horrific ‘american tech’. Retail? The defacto
bankrupt government’s probably buying with money they don’t have, at best; and,
as with other data in these desperate pre-election-year times, plain false,
falsified, fudged, spun. Previous day, all bad news … from eurozone (protugal,
et als), to asia zone (china worse than expected), to america (where to begin,
from defacto bankruptcy, to debased currency, to insurmountable debt / dervice,
to pervasive corruption, etc.) … stocks rally on fraud and b***s*** alone. Previous, higher oil price rally, along with Netflix
‘technology rally’ … Don’t make me laugh! … Total desperation on wall street
and in Washington … How pathetic! … Jobless claims at 428,000 much worse than expected;
and, don’t forget, these are desperate ‘pre-election times’ when regardless of
factual reality (ie., fake reports, data, as, ie., ‘wobama hometown’ corrupt
chicago ISM is up as even their youth gangs are showing increased criminal
activity which probably accounts for the rise; ie., meth, crack labs, etc.?)
data / reports are fudged / faked / spun. Foreclosure,
distressed sales up, at least on paper with contracts signed, so no surprise
nor reason to cheer here, as markets worldwide jump on the american crazy train
for a short-lived bounce as all problems remain. This
is the same month end (and quarter, half) spurt / window dressing based on
b***s*** alone to keep the suckers suckered and an especially great time to
sell / take profits since there’s much worse to come! Talk about milking the
greek crisis for the umpteenth time a so-called solution (and there are loads
of greecy scenarios worldwide … I don’t
think so and neither does Schaeffer who says: ‘…even once such a package is passed it only buys
time. Actually fixing the fiscal condition of Greece is not something that can
be solved in a matter of weeks, or even months…‘ but
it’s great press for the churn and earn and to keep the suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into.
This is an especially great opportunity to sell / take profits while you still
can since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says Market
Crash 6/30/11?Technical indicators suggest market collapse may begin by June
30th Dennis Slothower is one of the world’s leading technical analysts. He’s
one of the few advisors whose readers completely avoided ALL losses during the
disaster that was 2008. And now he’s issuing another dire warning. His
technical indicators suggest that the market manipulation we’ve seen over the
last several months is about to come to an end…and that means thousands of
investors are about to get clobbered. This correction could begin as soon
as June 30th– so it’s important that you take
action now to prepare yourself. StealthStocksOnline.com STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell
[video]Anemic
Hiring Sparking SellingTheStreet.com
TV
Top 3
Reasons Markets Were Down After the BLS Jobs Report July 8, 2011 Wall St. Cheat
Sheet ‘Markets closed down
on Wall Street today: Dow -0.49% , S&P -0.70% , Nasdaq -0.45% , Oil -2.31%
, Gold +0.85% .
On the commodities
front, Oil (NYSE:USO) made another reversal, falling back down to $96.39
a barrel after yesterday’s $2 jump. Precious metals continued to rise, with
Gold (NYSE:GLD) up to $1,543.50 an ounce and Silver (NYSE:SLV) up 0.48% to
$36.71 an ounce.
Today’s markets were
down because:
1) Jobs report. Jobs
report. Jobs report. Did I mention jobs report? The Bureau of Labor Statistics
released their monthly jobs report this morning, which showed next to no job
growth in June, and actually showed that unemployment had increased by 545,000
since March. The report also showed that May’s job growth, originally reported
at 54,000, was really less than half that figure. For that reason, the Dow
(NYSE:DIA), S&P (NYSE:SPY), and Nasdaq (NASDAQ:NDAQ) all dropped about 1%
this morning, though they have recovered somewhat since then.
2) Conglomerate stocks
took a hit . Big conglomerate stocks with high trading volumes like General
Electric (NYSE:GE), Emerson Electric (NYSE:EMR), Tyco International (NYSE:TYC),
United Technologies Corp. (NYSE:UTX), and Textron Inc. (NYSE:TXT) all suffered
major losses on the markets today. The best faring of the five was Textron
Inc., shares of which were down 0.68% today. The five heavily traded stocks all
trade on the NYSE, helping to bring down the whole index, where decliners
outnumbered advancers today, two to one.
3) Capital goods weighed
down the markets. Capital goods stocks were also a heavy weight on the NYSE,
with Honeywell International (NYSE:HON), Cummins Inc. (NYSE:CMI), Caterpillar
(NYSE:CAT), Deere & Company (NYSE:DE), and even Boeing (NYSE:BA) all down
1% to 2%. The one bright note is that BA, DE, and CAT are all recovering
somewhat in after-hours trading…’
[video]
Bad Jobs Report Causes Broad Sellingat
TheStreet.com
Investing
in Commodities: Warren Buffett Says “The Dollar Is Going to Get WorthLess Over
Time!”Wall St. Cheat Sheet
Lousy jobs
number complicates debt deal for both Obama and GOP - By Jim Tankersley National
Journal June's woefully underwhelming increase in jobs is a climactic twist in
the negotiations between President Obama and congressional Republicans over
federal borrow... The Lost
Decade: Bill Clinton on how to spur job growth and the economy [ Come on! Let’s get real now! The ‘c man who
does what he did because he could’, clinton was the unequivocal benefactor of
the peace dividend courtesy of Reagan / Gorbachev, the latter playing a greater
role than credited; such role being rishy for him and his and a testament to
the rational ,courageous, and civilized traits inherent to the Russian people.
You’ll not see such rationality among the war mongering, pervasively corrupt
american though defacto bankrupt.
Ugly
Job Chart Just Got Uglier; Investors Doubt Washingtonat Forbes
STOCKS
BARELY FALL AFTER MOUNTAIN OF BAD NEWS: Here's What You Need To Know Business Insider Joe Weisenthal, On
Friday July 8, 2011 ‘Crazy end to a crazy week! But first, the
scoreboard:
Dow: -64.86
NASDAQ: -13.06
S&P 500: -9.51
And now, the top
stories:
Top
Obama adviser says unemployment won’t be key in 2012 Ian Swanson | Obama’s senior
political adviser David Plouffe said people won’t vote in 2012 based on the
unemployment rate.
White
House Adviser Austan Goolsbee: ‘This Is Not A Double Dip’ Reuters
| Goolsbee says U.S. economy is not facing a double-dip recession [ But rather
is in the midst of a continuing downturn soon to be recognized as the
depression this decline already is, despite the nation-bankrupt spending of
money not really there to obfuscate and cover up that fact. ]
Unconstitutional
for Obama to Raise Debt Ceiling Without Congress Peter Roff | President Barack Obama,
we have been told many times, is a constitutional scholar.
US
Needs To Generate 254,000 Jobs A Month For 65 Months To Get To Pre-Depression
Employment By End Of Obama Second Term Zero Hedge | There is no way in hell the US economy can
create a quarter million jobs per month from now for the next 65 months.
Economic
slump linked with soaring suicide rates in Europe UK Daily Mail | The financial crisis
that swept Europe almost certainly led to an increase in suicides, according to
health experts’ research.
Retirement
Fund Plunder Update: $206 Billion So Far, $62 Billion Left Tyler Durden | As of today, since the
debt ceiling breach on May 16, the Treasury has plundered about $206 billion
from the two primary retirement accounts.
Economics
of the insane: Obama’s stimulus cost $278,000 for each new job created Natural News | There is a reason why
libertarian economists want the government to stay out of the business of
business – it’s because government is not good at it.
Boehner
endorses Obama’s call for far-reaching plan on debt Many Republicans were
more skeptical of Obama’s strategy than the House speaker. Pelosi:
‘We are not Greece’ (Washington
Post) [ Whew! Close call! There you go. Nothing to worry about now that
wobama’s got a boehner … so not to be so hard on them; if pelosi says it, it must
be true … Not! …Pervasively corrupt, defacto bankrupt america, they, she look
pretty greecey to me. After all, if the same’s wobama’s ‘far-reaching plan on
debt’, we all know ‘wobama the b’ (for b***s***) is total b***s*** which means
like Greecey PIIGS they’ll be back to the trough for more … slop … py … Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Paul B. Farrell: 7 reasons U.S. needs a Good Depression now By Paul
B. Farrell, MarketWatch SAN LUIS
OBISPO, Calif. (MarketWatch) — ‘No, do not raise the debt-ceiling. You heard
me: Block the debt ceiling vote. Don’t raise it. America’s out-of-control. A
debt addict. Time to detox. Deal with the collateral damage before it’s too
late.
We need to fix America’s
looming credit default, failing economy and our screwed-up banking system. Now,
with a Good Depression. If we just kick the can down the road one more time,
we’ll be trapped into repeating our 1930’s tragedy, a second Great Depression…’
GOP’s
incoherence on debt The GOP’s ideologically incoherent approach to the
debt-limit debate. (Washington Post) [
Oh come on! We all know, at the end of the day, neither dems or doze’ gops will
have accomplished anything of significance / substance to stem the tide of
their own self-created failures. Just more of the same, failed, disingenuous
approach and spin to what is otherwise, too little, too late. Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Parties
spar over debt deal Republicans are now willing to close some tax loopholes
as part of a deal to raise the debt limit.
(Washington Post) [ Oooooh! Doing the people’s
work, by hook or by crook … the former descriptive of what they are, the latter
descriptive of what they do … Instead
of Funding Retirement Accounts As Mandatory, Treasury Proceeds To Plunder The
Most Since Debt Ceiling Breach Tyler
Durden | Instead of putting in even one penny into G and CSRD
Funds, Tim Geithner has decided to defraud government retirees by the most
since the US debt ceiling was breached.
And, not just the government: Will Your Private
Pension Be Worthless? Mac Slavo
| We know the Federal and State governments are in serious fiscal trouble. States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 President
summons lawmakers With just over two weeks remaining, Obama calls lawmakers
to White House to break debt stalemate.
(Washington Post) [ Summons?
‘Wobama the b’ (for b***s***)? Romney is quite correct, At
N.H. town hall, Romney says Obama has made the economy worse (WP) ; but,
not just the economy. There is anything about what a president does that wobama
hasn’t failed at other than that ever so smooth jive-talkin’ he does that I
find beyond the pale that anyone is even listening to his b***s***; or rather,
Mr. Teleprompter’s words written / scripted by who knows who. What we do know
is that what he says has absolutely no meaning beyond the saying of the words
which flow so trippingly o’er his tongue. His political opportunism /
soundbites / appearances along with ‘michelle his bell’ have become so unctuous
and predictably transparent that they have become nauseatingly unwatchable.
Summons? He’s not worthy of respect much less attention; particularly owing to
his own abandonment of precepts and promises upon which he ran and for which he
was elected. He’s a total embarrassment!
U.S.
debt limit affects world finances The stand-off between congressional
Republicans and the Obama administration over raising a legal limit on how much
the nation can borrow has been filled with dire warnings about what will happen
if the U.S. government fails to pay its debts. (Washington Post) [ Stand-off …
that’s rich … or in terms of prevalence and consequence, poor. The term brings
to mind, in a manner of speaking, a shoot-out. And, further brought to mind is
a visual where all pervasively corrupt, defacto bankrupt america’s venal,
incompetent politicians / power-brokers / lobbies / players form a big circle
and in unison fire at will at the invisible target in the middle. Parties
at odds on deficit reduction Lawmakers in both parties plot strategies that
could make the deal difficult to find common ground. (Washington Post) [ Yes …
Odds on … favorite … a lose / lose solution. The realistic scenario brings to
mind that old adage that, ‘you can’t make a silk purse out of a sow’s ear’ …
and, yeah, the reality is all that bad. A
debt ceiling leadership failure On Leadership | Congress’s failure to fix
the budget deficit is due to fundamental differences of opinion on the role of
government. U.S.
consumer confidence unexpectedly (but realistically – and not because of the
budget stalemate) falls (Washington
Post) [Davis ‘This is how we pay off
our current debts and I think bondholders are simply happy to get anything out
of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes
closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The
funniest thing about this (and you have to laugh) is to see Conservative
pundits get on TV and talk about how we need to cut $100Bn worth of
discretionary spending to "fix" this (while continuing to spend $1Tn
on the military and $1Tn on tax cuts for the top 1% each year). There is no
fixing this and even a Republican said you can’t fool all of the people all of
the time. THIS HOUSE OF CARDS IS TEETERING
FOLKS – PLEASE BE CAREFUL OUT THERE! ‘President
enters the debt talks Obama hosts sitdowns as leaders remain divided over
spending reductions and tax increases. (Washington Post) [ Oooooh! The big gun
has arrived, with the biggest gun, Mr. Teleprompter just a hot line away. Come
on! Let’s get real! What does wobama the b (for b***s***) know that any of
these other fellow nincompoops don’t; particularly about economics / finance,
even compared to ‘Lobotomy Joe’. Market Crash 6/30/11?Technical indicators suggest
market collapse may begin by June 30th Dennis Slothower is one of the world’s
leading technical analysts. He’s one of the few advisors whose readers
completely avoided ALL losses during the disaster that was 2008. And now he’s
issuing another dire warning. His technical indicators suggest that the market
manipulation we’ve seen over the last several months is about to come to an
end…and that means thousands of investors are about to get clobbered. This
correction could begin as soon as June 30th– so
it’s important that you take action now to prepare yourself.
StealthStocksOnline.com [
Oooooh! Bring in the big guns; viz., ‘wobama the b’ (for b***s***) … sounds
like a plan! After all, ultimately it’s Mr. Teleprompter who’ll have the final
say; and, it seems like wobama’s got a lock on that ‘relationship with Mr. T;
you know, ‘pecking order’ kinds of stuff … Then begs the question: Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile ‘maestro’
greenspan and failed miserably except for the frauds on wall street who
commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Is
growth poised to strengthen? Friday’s numbers on the job market will test
analysts’ theory. (Washington Post) [ Come on! Lets get real here! Does anyone
really think they are going to get anything but a fudged / fake report / data
tomorrow owing to their ever increasing desperation in this pre-election-year
marked by their snowballing prior failures including complicity in the still
extant crisis producing wall street frauds ( ie., FASB rule change ‘mark to
anything’, no prosecutions of the high level fraudsters / banksters, etc.). Unemployment
Claims, Jobs Numbers Don't Jibe Denninger .. Planned
Job Cuts Increase by 12% In June, Second Sequential Increase Tyler Durden | Forget new job
formation..The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed!
Stocks rally on jersey-based, former Lautenberg ADP still paltry, much better
than expected 157,000 private jobs number and one’s got to wonder ‘who got
paid’, one way or another, for the fudge. Then there’s the horrific ‘american
tech’. Retail? The defacto bankrupt government’s probably buying with money
they don’t have, at best; and, as with other data in these desperate
pre-election-year times, plain false, falsified, fudged, spun. Previous day,
all bad news … from eurozone (protugal, et als), to asia zone (china worse than
expected), to america (where to begin, from defacto bankruptcy, to debased
currency, to insurmountable debt / dervice, to pervasive corruption, etc.) …
stocks rally on fraud and b***s*** alone. Previous, higher oil price rally, along with Netflix
‘technology rally’ … Don’t make me laugh! … Total desperation on wall street
and in Washington … How pathetic! … Jobless claims at 428,000 much worse than expected;
and, don’t forget, these are desperate ‘pre-election times’ when regardless of
factual reality (ie., fake reports, data, as, ie., ‘wobama hometown’ corrupt
chicago ISM is up as even their youth gangs are showing increased criminal
activity which probably accounts for the rise; ie., meth, crack labs, etc.?)
data / reports are fudged / faked / spun. Foreclosure,
distressed sales up, at least on paper with contracts signed, so no surprise
nor reason to cheer here, as markets worldwide jump on the american crazy train
for a short-lived bounce as all problems remain. This
is the same month end (and quarter, half) spurt / window dressing based on
b***s*** alone to keep the suckers suckered and an especially great time to
sell / take profits since there’s much worse to come! Talk about milking the
greek crisis for the umpteenth time a so-called solution (and there are loads
of greecy scenarios worldwide … I don’t
think so and neither does Schaeffer who says: ‘…even once such a package is passed it only buys
time. Actually fixing the fiscal condition of Greece is not something that can
be solved in a matter of weeks, or even months…‘ but
it’s great press for the churn and earn and to keep the suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into.
This is an especially great opportunity to sell / take profits while you still
can since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says Market
Crash 6/30/11?Technical indicators suggest market collapse may begin by June
30th Dennis Slothower is one of the world’s leading technical analysts. He’s
one of the few advisors whose readers completely avoided ALL losses during the
disaster that was 2008. And now he’s issuing another dire warning. His
technical indicators suggest that the market manipulation we’ve seen over the
last several months is about to come to an end…and that means thousands of
investors are about to get clobbered. This correction could begin as soon as June 30th– so it’s important that you take action now to
prepare yourself. StealthStocksOnline.com
STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how we
need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell
ECB
battles defaults in Europe The European Central Bank opposes debt
restructuring. Is it standing in the way of a solution? (Washington Post) [
Amazingly, and they really didn’t have to, europe / eu jumped on the american
crazy train to their eternal, if not ephemeral (in the sense that the eu
doesn’t even survive), detriment. What were they thinking when they jumped on
this crazy american bandwagon to ‘hell-in-a-handbasket’. They otherwise would
have been well positioned as a voice of reason from a global perspective with
all the attendant economic benefits that rationality can yield. Rather, they’ve
given credence to the old adage that ‘apples don’t fall far from the tree’,
conversely speaking. How tragic! Global Stress Points by Oxford Analytica http://en.wikipedia.org/wiki/Oxford_Analytica 20
Warning Signs of a Global Doomsday
Could
One Wrong Policy Move Bring Down the Markets? at Minyanville
By Lloyd
Khaner Jul 06, 2011 Sovereign debt, inflation and the threat of a
catastrophic policy mistake in China or the U.S. top our list of investors'
fears this week.
Moody's cuts Portuguese
debt, China raises interest rates, and Wall Street understandably gets the
jitters. Indeed, caution rules the day, week and entire season as the world's
largest economies will face make-or-break junctions all summer long. Are the
policy makers in China, the U.S., and Europe prepared to make the right call
every time, or will one faulty decision ("insane" bickering over the debt ceiling, for
example) bring ruinous upheaval to our global markets?
This week, Lloyd's Wall of Worry remains high at 19 blocks. For more on how to
use this column as an investing
tool, see "What is Lloyd's Wall of Worry?" below, or check out the graphic version of this page. For a look at the the
specific worries making investors nervous this week, keep reading.
QE II: Did we just have a Y2K non-moment?
U.S. ECONOMY: Not too hot. Not too cold. Just right…Not.
UNEMPLOYMENT: The economists describe it as “structural” and say that we must
be patient. Of course when the economists start losing their jobs, the
unemployment problem will then be “catastrophic” and in need of immediate
action.
U.S. DEBT CEILING: The countdown clock du
jour is ticking away. Will a deal get done so congress can go on vacation
for the month of August you ask? Is money green, I respond.
INVESTOR SENTIMENT: Is there a mercy rule for stock
market inflicted psychological damage?
HOUSING CRISIS: The residential housing quicksand deepens….
INFLATION: The U.S. Misery Index hits a 28-year high (that’s back to 1983 says
my slide rule) at the same time that headline Inflation becomes a concern. No
such thing as a coincidence in Money Land.
STOCK MARKET TECHNICALS: Pinball zinging back and forth off the trading
range bumpers. Tilt!
OIL PRICES: There’s no need to fear, the IEA and SPR are here! This better
work.
ARAB SPRING: New Guy! New Guy! The Republic of Sudan enters the awakening as
springtime moves its way down the African continent.
LIBYA: Mo-Mo is just daring NATO to put boots on the ground while at the same
time working backroom deals to end the war. He’s crazy like a fox, a really
old, megalomaniacal, fox.
JAPAN: Rumors spreading of a V-Shaped financial
recovery bursting from the land of the rising sun. Talk about just what the
doctor ordered.
CHINA: Developing a
taste for Eurobonds that may rival the one they have for U.S. Treasuries. Bon
Appetit!
EARNINGS SEASON: Will they hold up or are we standing like Wiley E. Coyote on a
momentarily suspended cliff’s edge? Beep-Beep! ...Poof.
SOVEREIGN DEBT: No need to fear. Any defaults will be “selective” or “partial”
or “temporary.” Whew! Oh, and all owners of this debt are instructed to employ
their “voluntary suspension of disbelief” when viewing the ensuing destruction
of capital as well.
COMMODITIES: Dropping fast and furious. Let’s hope the products they go into --
clothes, food, gasoline -- drop in price just as fast.
POLICY MISTAKE: Spin the wheel! Who will be first? The U.S., the EU or China?
Spin the wheel....
EUROPEAN CENTRAL BANK: New president, old problem, same solution. S.O.S.
GREECE: Next bout on the Grecian undercard: The Greek God of Austerity vs. The
Greek God of Union Workers…’
National / World
Rick Rozoff | Last week the U.S. reportedly launched its first drone attack inside
Somalia. [ Truth be told, I’m for any and all bombing of Somalia! ]
Deficit
flip-flop Obama goes from do-nothing to demagogue. (Washington Post) [
Well, if the shoe fits …(it does)… (he) wear(s) it … Come on! Nothing ‘wobama
the b’ (for b***s***) says has meaning or substance beyond the ephemeral
soundbite. He’s a totally failed president, like dumbya bush et als before him
and in many ways worse owing to his penchant for lending ‘no meaning’ to his
words. He’s pathetic! That’s reality! He’s totally incompetent like those
others before him and lacks even basic understanding of the core issues
confronting the nation (ie., economics, finance, and, surprisingly since it’s
the easiest to fare well at owing to pervasively corrupt-defacto-bankrupt
america’s (though rapidly declining) position, global geopolitics. Unconstitutional
for Obama to Raise Debt Ceiling Without Congress Peter Roff ‘Alibi’
Obama Who is best to run against the president and his excuses? (Washington
Post) [ Yeah! Really quite true! Wobama the b (for b***s***) is all excuses,
all b***s***. But, don’t strain yourself. It really doesn’t matter since
wobama’s a failed president whose failure speaks for himself (and his
teleprompter). As such, it matters very little who, since whoever, beats wobama
hands down. He has a record of failure and actions that have consistently
belied his words. Indeed, wobama’s a fraud in the inducement (campaign
promises) and a fraud in the factum (in fact). As failed as dumbya bush,
there’s a nausea factor that’s become attached to wobama(s) like no other(s). Drudgereport: POLL:
Obama 42%, any
Republican 46%...
OBAMA:
LET'S STAY IN IRAQ...
FLASHBACK:
'I intend to remove all U.S. troops from Iraq by the end of 2011'...
Campaign
signals fundraising fail...
UPDATE:
Minnesota Government Shuts Down...
Washington
state closes tourism office...
Florida
state workers get pink slips, more cuts ahead...
FEDS STRIKE DOWN STATE'S BAN ON RACE CONSIDERATION IN COLLEGE ADMISSIONS...
SoCal
Looks to Secede from California...
REPORT:
U.S. Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement
Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
GETTING
NERVOUS
NEWT:
Obama 'most successful food stamp president in American history'... ]
Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Top
3 Reasons Markets Were Up Despite Continuing Debt Crises Wall St. Cheat Sheet
With QE2
Dead, Are We Staring Down a Bull or Bear? By
Benzinga.com Jul 05, 2011 ‘…we're in for doom and gloom in the future. With no
bullets left in the gun for Bernanke to fire …, the government may not have the
means to stop the panic a second time. Things could get ugly in a hurry…’
‘One of
the most convincing cases often made by the stock-market bulls is that stocks
are super cheap, with interest rates at rock bottom and the S&P 500 trading
at just 13 times forecast earnings for the 2011. But the market may not be as
cheap as it appears — and it could get a lot cheaper, according to a note today
from Morgan Stanley equity strategist Adam Parker.
First, Mr.
Parker shoots all kinds of holes in the market-is-cheap theory. For one thing,
the market is only slightly cheaper today than its average forward P/E of 13.6,
dating back to 1976.
And the
market isn’t cheap at all using other ratios, such as price-to-sales (1.4x,
compared with a long-term average of 1.1x), price-to-book (2.3x compared with a
long-term average of 2.2x) or price-to-trailing earnings (16.1x compared with a
long-term average of 17.8x).
Meanwhile,
the S&P 500′s dividend yield of just 1.7% is way below an average of
2.7% dating back to 1964.
And this
one is maybe the most interesting: Mr. Parker argues that the biggest-cap
companies are providing most of the stock market’s cheapness, leaving the rest
of the market fairly valued. If the biggest 30 stocks are excluded, the
market’s forward P/E ratio is 13.5x, nearly matching the historical average.
The biggest 30 stocks are trading at 11.5x forward earnings (an echo of the WSJ
story today about how
investors have abandoned big-cap tech).
“Our view
is that the mega caps are undervalued and the rest of the market (stocks 31
through 500) are modestly overvalued,” Mr. Parker writes.
And now
the kicker: The market will likely get even cheaper. Analyst earnings forecasts
are now way above their long-term average, up 18.4% in the past year, compared
with an average over the past 20 years of 7.91%. Earnings forecasts seem likely
to fall back to earth, which alone could drive the market’s forward earnings
multiple down to 10.6x, Mr. Parker estimates.
Meanwhile,
Mr. Parker estimates that inflation-adjusted earnings growth has averaged 3.77%
since 1948, and it will likely be lower than that in the next 10+ years, hurt
by higher inflation and slower and more volatile economic growth around the
world.
If he’s
right, then the market is more expensive now than it seems. His forecast is
that forward P/E will fall to 10.
Update:
A commenter
raised the issue of cash — the top 1500 companies have some $1.5 trillion in
cash sitting on their balance sheets, fuel for future growth, stock buybacks,
dividends, etc. That should make the market more attractive, but Mr. Parker
dismantles this one, too, saying companies have net debt near pre-Internet
bubble levels, that much of the cash is overseas and must be repatriated and
that investors have been cutting the premium they’re willing to pay for
corporate cash in recent years.’
S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell ‘Are equities positioned for a nosedive? [Unequivocally, yes!
Jobless claims at 428,000 much worse than expected; and, don’t forget, these
are desperate ‘pre-election times’ when regardless of factual reality (ie.,
fake reports, data, as, ie., ‘wobama hometown’ corrupt chicago ISM is up as
even their youth gangs are showing increased criminal activity which probably
accounts for the rise; ie., meth, crack labs, etc.?) data / reports are fudged
/ faked / spun. Foreclosure, distressed
sales up, at least on paper with contracts signed, so no surprise nor reason to
cheer here, as markets worldwide jump on the american crazy train for a
short-lived manipulated bounce as all problems
remain. This is the same month end
(and quarter, half) spurt / window dressing based on b***s*** alone to keep the
suckers suckered and an especially great time to sell / take profits since
there’s much worse to come! ]
What is
Making Stocks Rally? ‘ … Here are some of the headlines featured last week:
'Greek default could
trigger chain reaction' - AP
'Why Wall Street still
says buy, and you shouldn't' - AP
'Is the bull market
over?' - Barrons.com
Interestingly, the
Barrons.com article commented that: 'A look at four different sentiment
measures suggests that more pain may await investors.' …’
4
Hurdles the Markets Must Clear to Make Progress in Coming Months - at Minyanville MoneyShow.com ‘I have to admit I was surprised by last
week’s huge stock market rally.
The Dow Jones Industrial Average soared nearly 650 points in five trading
sessions, while the S&P 500 gained 5.6% and the Nasdaq Composite rose 6.2%.
Yet maybe because I didn’t expect it, I just don’t trust it. So much movement
on so little volume—and not much news to drive it, except the latest tentative
settlement on Greece.
And until Tuesday, oil and gold—two of the primary movers in the “risk-on”
trade that drove the market from its lows of last summer—either barely
participated or fell.
That’s one reason I suspect, but can’t prove, that the stock rally was dominated
by pros looking to push up prices and exit their positions ahead of earnings
season.
I’m still pretty cautious about the market this summer. Unless we see big
improvement in the economy, which I don’t anticipate, the fundamental
underpinnings are pretty weak. And there’s little prospect of the massive
government and central-bank interventions that helped drive stocks higher last
year.’
Investing
Dying as Computer Trading, ETFs & Dark Pools Proliferate - at CNBC Melloy [ The thrust of this article is the
manipulation on fraudulent wall street in the most negative sense … duh! ]
‘There’s
an old Wall Street adage meant to inspire investors that goes “it’s not a stock market, but
a market of stocks.” Consider that dead.
Computer trading, dark
pools and exchange-traded funds are dominating market action on a daily basis,
statistics show, killing the buy and hold philosophy still attempted by many
professional and retail investors alike. Everything moves up or down together
at a speed faster than which a normal person can react, traders said.
High frequency trading
accounts for 70 percent of market volume on a daily basis, according to several
traders’
estimates. The average holding period for U.S. stocks is now just 2.8 months,
according to the Crosscurrents newsletter. In the 1980s, it was two years.
[chart]
“The
theory that buy-and-hold was the superior way to ensure gains over the long
term, has been ditched completely in favor of technology,” said Alan Newman, author
of the monthly newsletter. “HFT promises gains are best provided by holding
periods measuring as few as microseconds, possibly a few minutes, or at worst,
a few hours.”
The problem is only made
worst by the proliferation of exchange-traded funds, traders said. The
vehicles, which make trading a group of stocks as easy as buying and selling an
individual security, passed the $1 trillion in assets mark at the end of last
year, according to BlackRock. This is probably why all ten sectors of the
S&P 500 finished in the black for two consecutive years, something that’s only happened one other
time since 1960, according to Bespoke Investment Group.
“The
capital raising stock market of the past hundred years has morphed in just the
last 10 years into a casino,” said Sal Arnuk of Themis Trading and a market
infrastructure expert who advised the SEC after last year’s so-called Flash Crash. “Who is doing the
fundamental work analyzing stocks? In the end, we’ve greatly increased
systemic risk.”
Another factor jumped
into the fray in December: dark pools. Off-exchange trading accounted for more
than a third of the trading volume in December, says Raymond James. While these
trades are eventually reported to the public markets, they further damage price
discovery, an essential element for a fair securities market, investors said.
“This
was a record high market share for off-exchange trading and we believe the SEC
will ultimately be forced to react to support the price discovery process by
limiting off-exchange trading for all traces except for large block trades,” wrote Raymond James
analyst Patrick O’Shaughnessy in a note to clients yesterday.
“This
destroys capital markets,” said Jon Najarian, co-founder of TradeMonster and a ‘Fast Money’ trader. “Hidden trading venues,
where some participants get to peek at the orders as they are entered so long as
they agree to ‘interact’ with a minimum percentage, is not an exchange, it’s a license to steal.”
While many see these
forces aligning to cause a sort of self-correcting powerful drop in the market
down the road
Unemployment
Claims, Jobs Numbers Don't Jibe
These
Guys Think You Should Sell Stocks Now at
Motley Fool
The
Madness Of Buying Stocks With P/E's Of 500 at Forbes
Unconstitutional
for Obama to Raise Debt Ceiling Without Congress Peter Roff | President Barack Obama,
we have been told many times, is a constitutional scholar.
Why
The Taxpaying Populace Of Greece Better Stock Up On Thier Grease! Reggie Middleton | Insolvency, first
and foremost!
Planned
Job Cuts Increase by 12% In June, Second Sequential Increase Tyler Durden | Forget new job
formation.
The number of Americans
that are really depressed about the direction of the economy continues to
grow. At first most Americans had expected the U.S. economy to bounce
back after the recession “like it always does”, but now hope is turning into
desperation as people start realizing that this time things are different.
Most Americans are very
eager for things to go back to normal. Unfortunately, things look like
they are about to get even worse.
The following are 16
reasons to feel really depressed about the direction of the economy….
#1 A newly released National Federation of
Independent Business polldiscovered that U.S. small businesses let go of
more workers than they hired in June. Previously, the poll had registered
four monthly gains in net jobs in a row. Some analysts believe that this
may be another indication that the employment market is getting softer once
again.
#2 Another newly released jobs report found that the
number of job cuts being planned by U.S. employers increased
by 11.6% in June.
#3 There are fewer payroll jobs in the United States
today than there were back in
2000 even though we have added 30 million people to the population since
then.
#4 There are officially 6.2 million Americans that
have been unemployed for more than 6 months. There are millions of others
that have also been out of work that long but they have become so discouraged
about looking for work that the U.S. government considers them “to no longer be
in the workforce”.
#5 It now takes the average unemployed worker in
America nearly 40 weeksto find a new job.
#6 Paychecks are not keeping up with inflation.
In May, the average hourly wage in the United States was 1.6 percent lower than 12
months earlier.
#7 Food and gas prices have been absolutely soaring
over the past year. McDonald’s, Hershey and Coca-Cola have all announced
price increases this year. One recent survey found that 9 out of 10 U.S. workers do not expect
their wages to keep up with soaring food prices and soaring gas prices over
the next 12 months.
#8 There are disturbing indications that the business
community expects the economy to slow down even more in the months ahead.
For example, pre-orders for Christmas toys from China are
way down.
#9 As of April, there were 6.39 million home loans in
the United States that were either delinquent or in foreclosure. Included
in that were 675,000 home loans that had not had a single payment made on them
in two years.
#10 Approximately 28 percent of all home loans in the
United States are currently “underwater”.
#11 Overall, American households are about 7.7 trillion dollars poorer
than they were back in early 2007.
#12 As a percentage of GDP, the total amount of debt in
the United States is now far higher than it ever has been in any other era of
U.S. history. Things were not even close to this bad during the Great
Depression.
#13 One of the key measures of consumer confidence in
the United States has hit a seven-month low.
#14 According to Gallup, the percentage of Americans
that lack confidence in U.S. banks is now at an all-time high of 36%.
#15 According to one recent poll, 39 percent of Americans
believe that the U.S. economy has now entered a “permanent decline”.
#16 Another recent survey found that 48 percent of
Americans believe that it is likely that another great Depression
will begin within the next 12 months.
So what is the United
States going to look like if we do have another major economic downturn?
If the U.S. economy
continues to get worse and worse, will what is happening in Greece eventually start happening
in this country?
Let us certainly hope
that our cities do not descend into chaos any time soon.
However, we should not
just stick our heads in the sand and pretend that everything is going to be
okay.
Those of us that are
aware of what is happening to the economy should take this time to get
prepared.
We should all be getting
out of debt. When the economy tanks and interest rates start to spike you
don’t want a horde of creditors hunting you down.
We should all be
reducing our expenses and learning to live on less. It is those that are
“lean and mean” that will have the best chance of making it through a major
downturn successfully.
We should all be storing
up emergency food and supplies. After all, you take out insurance on all
kinds of other things, don’t you? We all need to be fully prepared just
in case the worst happens.
The truth is that most
Americans are totally unprepared for economic troubles. As the financial
crisis of 2008 demonstrated, when people lose their jobs and their wealth they
will come in and take everything away from you.
And it is not just your
home that you could lose. When you don’t have any more money left there
is a chance that authorities will take everything away from you.
For example,
according to one local news report,
six kids were taken away permanently from their parents just because they were
homeless and living in a storage shed….
“You shouldn’t take our kids because we’ve fallen on hard
times,” said Prince Leonard, a married father of six whose family resides in a
northeast Houston storage shed.
The Leonards moved in three years ago after the father, an
unemployed welder, was hired as a maintenance worker.
Well, it turns out that
the storage shed actually had “an air conditioner, a refrigerator and two
personal computers”, so they were not living too terribly.
But this is what happens
to so many poor families today – “child protective services” will come in and
take their children away at the drop of a hat.
Poor people are an easy
target. They know that they are unlikely to fight back and so thousands
and thousands of young children are constantly being ripped out of homes and
never returned.
Don’t think that it can
never happen to you. It is happening all over the country.
Meanwhile, the
mainstream media continues to act like everything is just fine. As our
economy continues to be caught in a death spiral they are busy cracking jokes
and talking about celebrities.
While the country is
falling apart, the following video is an example of what passes for news in
America these days….
The sad reality of the
matter is that “the American Dream” is dying.
Every month more
American families are slipping out of the middle class and into poverty.
Over the past four
years, the number of Americans on food stamps has risen by 18 million. A
higher percentage of Americans is enrolled in government anti-poverty programs
than ever before.
There will be millions
of Americans that will not be able to sleep tonight because they are being
eaten alive by worry and fear. If the economy does not turn around soon, there
will be even more American families that are living in their cars and eating
out of dumpsters.
Our economic problems
are a horrible nightmare that never seems to end. We are literally
watching the greatest economy on earth crumble before our very eyes.
So if you feel really
depressed about all this, nobody is going to blame you.
But pulling yourself
together and getting yourself and your family prepared for the really hard
times that are coming might be a better course of action.’
Egypt vs IMF: Time to
Default? Eric Walberg
| The financial flip-flop of Egypt’s revolutionary government, first requesting
and then declining a $3 billion dollar IMF loan, highlights Egypt’s hard
choices at this point in the revolution, but is a good sign.
The
Coming “New World Order” Revolution: How Things Will Change In The Next 20
Years – A Kondratieff Cycle Perspective Tyler Durden | SocGen has published a fantastic, must
read big picture report.
As
Commodity Prices Soar, So Does Demand for Wood Pulp—As a “Food Extender” cryptogon.com | Just the other day, I
was joking with my wife about how eating those cheap tacos is like eating meat
flavored sawdust.
In
Europe, an ‘Argentinean Re-Run’: Fund Manager CNBC.com | The situation facing
European countries like Greece and Portugal is directly comparable to the
economic crisis which hit Latin America in the late 1990s.
Wall
Street is abuzz about tech stocks, but where's the smart money? With tried
and true tech giants like Microsoft, IBM and Intel, look for value -- and
landmines. Tech
IPO's and the growth trap (Washington Post) [ Undoubtedly the biggest
scam since the dotcom bust; that summer sizzler based on b***s*** alone! The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! All bad news … from eurozone
(protugal, et als), to asia zone (china worse than expected), to america (where
to begin, from defacto bankruptcy, to debased currency, to insurmountable debt
/ dervice, to pervasive corruption, etc.) … stocks rally on fraud and b***s***
alone. Previous,
higher oil price rally, along with Netflix ‘technology rally’ … Don’t make me
laugh! … Total desperation on wall street and in Washington … How pathetic! … Jobless claims at 428,000 much worse than expected;
and, don’t forget, these are desperate ‘pre-election times’ when regardless of
factual reality (ie., fake reports, data, as, ie., ‘wobama hometown’ corrupt
chicago ISM is up as even their youth gangs are showing increased criminal
activity which probably accounts for the rise; ie., meth, crack labs, etc.?)
data / reports are fudged / faked / spun. Foreclosure,
distressed sales up, at least on paper with contracts signed, so no surprise
nor reason to cheer here, as markets worldwide jump on the american crazy train
for a short-lived bounce as all problems remain. This
is the same month end (and quarter, half) spurt / window dressing based on
b***s*** alone to keep the suckers suckered and an especially great time to
sell / take profits since there’s much worse to come! Talk about milking the
greek crisis for the umpteenth time a so-called solution (and there are loads
of greecy scenarios worldwide … I don’t
think so and neither does Schaeffer who says: ‘…even once such a package is passed it only buys
time. Actually fixing the fiscal condition of Greece is not something that can
be solved in a matter of weeks, or even months…‘ but
it’s great press for the churn and earn and to keep the suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into.
This is an especially great opportunity to sell / take profits while you still
can since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says Market
Crash 6/30/11?Technical indicators suggest market collapse may begin by June
30th Dennis Slothower is one of the world’s leading technical analysts. He’s
one of the few advisors whose readers completely avoided ALL losses during the
disaster that was 2008. And now he’s issuing another dire warning. His
technical indicators suggest that the market manipulation we’ve seen over the
last several months is about to come to an end…and that means thousands of
investors are about to get clobbered. This correction could begin as soon
as June 30th– so it’s important that you take
action now to prepare yourself. StealthStocksOnline.com STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- Why The Dow Will Plunge To 7,000 By 24/7 Wall St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell
Get a job, kid! Only 25 percent of
American teens have summer jobs, the lowest percentage on record. Why? Are they
lazy? (Washington Post) [ Well, in their defense, the reality’s that the real
unemployment rate minus the fudge factors, particularly in this pre-election
year, is just about that, and many are ‘makeshift’ jobs at that for
‘pre-election year politicking purposes’: Drudgereport: Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job... … Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile
‘maestro’ greenspan and failed miserably except for the frauds on wall street
who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ] In his June 7 speech, Fed Chairman Ben Bernanke
stated, “the best way for the Federal Reserve to support the fundamental value
of the dollar in the medium term is to pursue our dual mandate of maximum
employment and price stability, and we will certainly do that.”
It is instructive to
take a look at the actual Federal Reserve goals, as well Bernanke’s results in
pursuing those goals.
Goals of Monetary
Policy
“The goals of monetary
policy are spelled out in the Federal Reserve Act, which specifies that the
Board of Governors and the Federal Open Market Committee should seek ‘to
promote effectively the goals of maximum employment, stable prices, and
moderate long-term interest rates’. Stable prices in the long run are a
precondition for maximum sustainable output growth and employment as well as
moderate long-term interest rates.
When prices are stable
and believed likely to remain so, the prices of goods, services, materials, and
labor are undistorted by inflation and serve as clearer signals and guides to
the efficient allocation of resources and thus contribute to higher standards
of living. Moreover, stable prices foster saving and capital formation, because
when the risk of erosion of asset values resulting from inflation—and the need
to guard against such losses—are minimized, households are encouraged to save
more and businesses are encouraged to invest more.”
Let’s look at the
results of Bernanke’s economic “fine tuning” (using data from the St. Louis
Fed’s database, starting in February, 2006, through April 2011), and see if he
has successfully pursued this mandate.
Definition of STABLE (from the
Mirriam-Webster
dictionary)
a : firmly established : fixed, steadfast <stable opinions>
b : not changing or fluctuating : unvarying <in
stable condition>
c : permanent, enduring <stable civilizations>
Stable Prices?
Stable prices are one of
the Fed’s primary mandates. In the table below, take a look at what has
happened to the prices of items in a typical U.S. consumer’s budget since Ben
took the reins:
Feb ’06 – April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
It is easy to play with
the weightings of the above prices, and see how individual budgets would be
impacted. Regardless of the method used to look at prices, it is clear
that Bernanke has not been successful at maintaining price stability since
taking over as Fed Chairman. Mandate not accomplished.
Maximum or Full
Employment
Finding a strict
definition of maximum employment is impossible. Many economist give different
estimates, ranging from 2%-7%. The standard unemployment rate most often
used by the Fed is currently at 9.1%, up 90% since Bernanke started. The
more inclusive (realistic) U6 number stands at 15.8%, up 75% in the same
period. The Civilian Participation Rate has declined 2.87% to 64.2%.
This is the lowest level
the U.S. has seen since March, 1984. The decline amounts to 8,946,844
fewer Americans in the labor force. Had they not dropped out because of a
lack of jobs, the “official” unemployment rate would be significantly
higher. While we can debate the meaning of the term maximum employment,
it is clear that the jobs data has deteriorated considerably since Bernanke
took the reins at the Fed. Mandate not accomplished.
Moderate Interest
Rates
While not stated in
Bernanke’s recent address, the Fed’s website also posts “moderate interest
rates” as a stated goal. While we cannot definitively say what
constitutes “moderate”, we do know that both short and long-term interest rates
are near all time lows. It is safe to assume that near record low rates
are not “moderate”. Further, when interest rates are artificially
held below the rate of economic growth,” financial repression” is
occurring. Many bright folks have commented on how the zero interest rate
policy (ZIRP) is destructive to savers and misallocates resources. It is
safe to say that this mandate has not been accomplished.
In conclusion, it is
evident that Ben Bernanke is failing his mandates. We believe it must
come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding.
We will leave it up to
our readers to make their own conclusions.
Matt Marcewicz
& Robert Barone, Ph.D.
Matthew Marcewicz and Robert Barone are investment advisor
representatives with Ancora West Advisors LLC, Reno, Nev. ‘
Parties
spar over debt deal Republicans are now willing to close some tax loopholes
as part of a deal to raise the debt limit.
(Washington Post) [ Oooooh! Doing the people’s
work, by hook or by crook … the former descriptive of what they are, the latter
descriptive of what they do … Instead
of Funding Retirement Accounts As Mandatory, Treasury Proceeds To Plunder The
Most Since Debt Ceiling Breach Tyler
Durden | Instead of putting in even one penny into G and CSRD
Funds, Tim Geithner has decided to defraud government retirees by the most
since the US debt ceiling was breached.
And, not just the government: Will Your Private
Pension Be Worthless? Mac Slavo
| We know the Federal and State governments are in serious fiscal trouble. States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 President
summons lawmakers With just over two weeks remaining, Obama calls lawmakers
to White House to break debt stalemate.
(Washington Post) [ Summons?
‘Wobama the b’ (for b***s***)? Romney is quite correct, At
N.H. town hall, Romney says Obama has made the economy worse (WP) ; but,
not just the economy. There is anything about what a president does that wobama
hasn’t failed at other than that ever so smooth jive-talkin’ he does that I
find beyond the pale that anyone is even listening to his b***s***; or rather,
Mr. Teleprompter’s words written / scripted by who knows who. What we do know is
that what he says has absolutely no meaning beyond the saying of the words
which flow so trippingly o’er his tongue. His political opportunism /
soundbites / appearances along with ‘michelle his bell’ have become so unctuous
and predictably transparent that they have become nauseatingly unwatchable.
Summons? He’s not worthy of respect much less attention; particularly owing to
his own abandonment of precepts and promises upon which he ran and for which he
was elected. He’s a total embarrassment!
U.S.
debt limit affects world finances The stand-off between congressional
Republicans and the Obama administration over raising a legal limit on how much
the nation can borrow has been filled with dire warnings about what will happen
if the U.S. government fails to pay its debts. (Washington Post) [ Stand-off …
that’s rich … or in terms of prevalence and consequence, poor. The term brings
to mind, in a manner of speaking, a shoot-out. And, further brought to mind is
a visual where all pervasively corrupt, defacto bankrupt america’s venal,
incompetent politicians / power-brokers / lobbies / players form a big circle
and in unison fire at will at the invisible target in the middle. Parties
at odds on deficit reduction Lawmakers in both parties plot strategies that
could make the deal difficult to find common ground. (Washington Post) [ Yes …
Odds on … favorite … a lose / lose solution. The realistic scenario brings to
mind that old adage that, ‘you can’t make a silk purse out of a sow’s ear’ …
and, yeah, the reality is all that bad. A
debt ceiling leadership failure On Leadership | Congress’s failure to fix
the budget deficit is due to fundamental differences of opinion on the role of
government. U.S.
consumer confidence unexpectedly (but realistically – and not because of the
budget stalemate) falls (Washington
Post) [Davis ‘This is how we pay off
our current debts and I think bondholders are simply happy to get anything out
of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes
closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The
funniest thing about this (and you have to laugh) is to see Conservative
pundits get on TV and talk about how we need to cut $100Bn worth of
discretionary spending to "fix" this (while continuing to spend $1Tn
on the military and $1Tn on tax cuts for the top 1% each year). There is no
fixing this and even a Republican said you can’t fool all of the people all of
the time. THIS HOUSE OF CARDS IS TEETERING
FOLKS – PLEASE BE CAREFUL OUT THERE! ‘President
enters the debt talks Obama hosts sitdowns as leaders remain divided over
spending reductions and tax increases. (Washington Post) [ Oooooh! The big gun
has arrived, with the biggest gun, Mr. Teleprompter just a hot line away. Come
on! Let’s get real! What does wobama the b (for b***s***) know that any of
these other fellow nincompoops don’t; particularly about economics / finance,
even compared to ‘Lobotomy Joe’. Market Crash 6/30/11?Technical indicators suggest
market collapse may begin by June 30th Dennis Slothower is one of the world’s
leading technical analysts. He’s one of the few advisors whose readers
completely avoided ALL losses during the disaster that was 2008. And now he’s
issuing another dire warning. His technical indicators suggest that the market
manipulation we’ve seen over the last several months is about to come to an
end…and that means thousands of investors are about to get clobbered. This
correction could begin as soon as June 30th– so
it’s important that you take action now to prepare yourself.
StealthStocksOnline.com [
Oooooh! Bring in the big guns; viz., ‘wobama the b’ (for b***s***) … sounds
like a plan! After all, ultimately it’s Mr. Teleprompter who’ll have the final
say; and, it seems like wobama’s got a lock on that ‘relationship with Mr. T;
you know, ‘pecking order’ kinds of stuff … Then begs the question: Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile
‘maestro’ greenspan and failed miserably except for the frauds on wall street
who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
National / World
5 Dead,
23 Hurt Over Violent Holiday Weekend Jennifer
Schwarz | Five men were killed and more than 20 were injured in
shootings and stabbings since Friday.
US-led strike
kills 8 Afghan children Press TV |
A US-led airstrike has targeted a house in eastern Afghanistan, killing at
least 13 civilians, including eight children, police officials say.
The
“War On Terror” Is A $6 Trillion Racket, Exceeding The Total Cost Of World War
II Global Research
| The cost of the War on Terror is significantly greater than Obama has
claimed.
‘Alibi’
Obama Who is best to run against the president and his excuses? (Washington
Post) [ Yeah! Really quite true! Wobama the b (for b***s***) is all excuses,
all b***s***. But, don’t strain yourself. It really doesn’t matter since
wobama’s a failed president whose failure speaks for himself (and his
teleprompter). As such, it matters very little who, since whoever, beats wobama
hands down. He has a record of failure and actions that have consistently
belied his words. Indeed, wobama’s a fraud in the inducement (campaign
promises) and a fraud in the factum (in fact). As failed as dumbya bush,
there’s a nausea factor that’s become attached to wobama(s) like no
other(s). Drudgereport: POLL:
Obama 42%, any
Republican 46%...
OBAMA:
LET'S STAY IN IRAQ...
FLASHBACK:
'I intend to remove all U.S. troops from Iraq by the end of 2011'...
Campaign
signals fundraising fail...
UPDATE:
Minnesota Government Shuts Down...
Washington
state closes tourism office...
Florida
state workers get pink slips, more cuts ahead...
FEDS STRIKE DOWN STATE'S BAN ON RACE CONSIDERATION IN COLLEGE ADMISSIONS...
SoCal
Looks to Secede from California...
REPORT:
U.S. Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement
Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
GETTING
NERVOUS
NEWT:
Obama 'most successful food stamp president in American history'... ]
Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60 billion,
said Mitch Daniels of the Office of Management and Budget. We can finance the
war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was gone, back,
in Ronald Reagan’s phrase, “testing the magic of the marketplace.”And the cost
of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen america.
Indeed, the scenario typifies that national drain / sinkhole new york (new york
/ new jersey metro) where, for example, FBI informants were routinely exposed
by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and
were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this
was documented with authority in the book ‘Goombata: The Improbable Rise and
Fall of John Gotti and His Gang’ Cummings /
Volkman Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Men
getting jobs faster than women The recession was hard on men, who saw
construction and manufacturing jobs dry up, but the recovery is proving much
kinder on men. In a rare turnabout, men are outpacing women in getting jobs as
the economy struggles back to life — and they’re doing it partly by taking work
in fields long dominated by women. (Washington Post) [ And unfortunately, if
you’ve the unpleasant occasion to experience the american workforce in action
(I’m reminded every time I so do – those problem/support lines for americans
services / products so typically gone awry; horrendous, with an attitude, but
clear as an unmuddied lake as to why american jobs are outsourced. A simple
cost-benefit analysis further confirms the rational basis to this reality. Drudgereport: Obama
Economists Admit: 'Stimulus' Cost $278,000 per Job... . Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless
one expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
‘america’s great girth … as in
fatter’
The
Madness Of Buying Stocks With P/E's Of 500 at Forbes
Bearish Signs Are Quickly Adding Up By Gary Kaltbaum
Jun 13, 2011 11:00 am
Over the past few weeks,
I have been more cautious. During that time on the Buzz & Banter,
I outlined why I thought the market was in trouble. The simple fact is that
every characteristic that usually show up near tops in the market...
showed up. When these characteristics show up, it is time to keep an eye
out for trouble. All that has to happen is for negative price and volume to
confirm. Subtle signs showed up weeks in advance. When listening to
those who say this recent drop came out of nowhere, please take it with a grain
of salt. Here are those bearish characteristics that I've said would eventually
come back to haunt the market:
Financials
Big financials were acting like it was '07 all over again. They sit when the
market goes up and they lead down when the market sinks. It's quite amazing
that this is occurring while the Fed is just handing money over to them. This
is important, as financials have always been a key to the market.
Major New Highs Divergence
Every time the market went to new highs, there were fewer and fewer stocks hitting new highs...
indicating strength was narrowing.
Defense Leads
Speaking of leadership narrowing, over the past several weeks, we saw drugs,
food, beverages, tobacco, and utilities lead. It's a classic sign of
trouble when the most defensive of issues are being bought.
Low Levels of Cash
Mutual funds are only holding 4% in
cash -- a very low level -- providing very little ammo for the market.
Over the Top Bullish Sentiment
I noticed one pundit call for 2600 S&P
by 2013 and another calling for 20,000 Dow
within 18 months. These type of calls do not occur at the lows.
Many Stock Splits and Mergers
Stock splits and mergers do not
occur at lows. In fact, they occur at highs.
Emerging Markets
Markets like China, Brazil, and others entered their own bear phases
before US markets.
A Plethora of IPOs and Secondaries
This adds supply to the market, but more importantly it's another
characteristic that shows up at highs, not at lows. To make matters
worse, investment banks -- as usual -- learned no lessons from the
late '90s about bringing companies public with $5-10 billion valuations that do
not have even $100 million in sales and lose money. They get their fees and
investors lose.
Semiconductors
Another important leading sector is the semis. They have led the market for
many years, both up and down. When they topped in March, I became worried. When
they rolled over in mid-May, I became double worried.
Finally and Most Importantly
Nothing bad happens when major indices are above the 50 day moving averages, and only bad
happens when below. The final dagger occurred last Wednesday when markets dived
below on volume. Since then, there's nothing but distribution. On a daily basis
we are seeing weak closes, another important sign of a bear phase.
Try to resist the
urge to listen to permabull Wall Streeters during bear phases, as it
could cost you a bundle. You will be hearing the terms overdone,
overreaction, undervalued, cheap, and so on. Be careful!
I am amazed at the complacency I have seen so far. After stating my bearish
stance on Fox News a
few weeks ago, I received a bunch of disagreeing emails, and even hate mail.
Some people just never want to believe the market can go down. There is no way
of knowing when a bear phase will end, but just like we know the
characteristics that show up during a market top, we know the characteristics
that show up during a market bottom. I do believe this market has a date with
the 200-day moving average which is only a
couple percent lower. At this juncture, I am inclined to believe it will occur.
To answer the question on whether the market could have another flash crash, I
wouldn't bet against anything as I do not believe the masses are prepared, and
I do believe the masses still have the buy the dip mentality.
On a short-term basis, major indices remain very stretched, expended, and
oversold to the downside. But again, oversold could stay oversold for a while.
I suspect the 200-day average could first provide the market with some sort of
relief rally. Any rally should be sold as I believe there is going to be more
time and price in this bear phase.
My last point is on the economy because many weeks ago I thought the economy
had topped. Since then and unfortunately, this has been the case. What did I
see? Every quarter I visit numerous retail outlets and I speak to select
people in differing industries. These are ordinary people either running or
working at businesses and they all said that things had stalled, that
there was no upward trajectory. I then heard the heads of Walmart (WMT) and Target (TGT) say
that the consumer hit a wall. (Here's a hint, never argue with what Walmart
says. Don't listen when a pundit says the news is just limited to
Walmart. The company only does $400 billion in sales.) The last and most
important clue... commodities topped, indicating demand was indeed softening.
Weeks later, all the worsening news has started to come out.
My biggest worries are simple:
The Fed is out of ammo. Interest rates are already at zero percent. Yes, they
can print more money but that only crushes the dollar and lifts
commodities, which in turn hurts the consumer. Crushing your own currency has never worked.
This administration is in dire need of watching the Seinfeld episode where Jerry told George that if every
decision he has ever made was wrong, then doing the opposite must be right.
We've seen massive deficits, massive amounts of new regulations, threats of tax
increases, demonization of almost every industry, and a health care bill that
does nothing more than add more costs to hiring even though they say it will
lower costs and lower the deficits. There is only one outcome from this
questionable policy... and we are seeing it. The Obama
administration is not dealing with a sluggish economy, it is causing
it.
So I worry. It is only bad when markets go down, and right now, it
is bad. Markets are going down and we may have only seen the beginning as
the trust factor remains very low. Markets are quite smart in the long run.’
Planned
Job Cuts Increase by 12% In June, Second Sequential Increase Tyler Durden | Forget new job
formation.
Europe
Persists in Seeking a Solution for Greece New York Times | European bankers said that they had not
given up on effort to help sort out Greece’s finances, a day after a major
ratings agency said it would consider Greece to be in default.
In
Europe, an ‘Argentinean Re-Run’: Fund Manager CNBC.com | The situation facing
European countries like Greece and Portugal is directly comparable to the
economic crisis which hit Latin America in the late 1990s.
Instead
of Funding Retirement Accounts As Mandatory, Treasury Proceeds To Plunder The
Most Since Debt Ceiling Breach Tyler
Durden | Instead of putting in even one penny into G and CSRD
Funds, Tim Geithner has decided to defraud government retirees by the most
since the US debt ceiling was breached.
Without
Low Interest Rates, The U.S. Financial System Dies The Economic Collapse | Right now,
interest rates are near historic lows.
ECB Will
Continue to Accept Greek Debt Financial
Times | The European Central Bank will continue to accept Greek
debt as collateral for loans unless all the major credit rating agencies it
uses declare it to be in default.
Crumbling
house at center of feud Neighbors in a posh D.C. enclave agree there’s an
eyesore in their midst — just not on where it is. (Washington Post) [ Crumbling
house? Now why do I immediately think of the house of representatives
(including as well, the senate). Because … they’re crumbling, along with the
nation. ‘House of cards’? Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the people
all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
The
back-office power brokers Experts in managing troubled loans of commercial
real estate see their fortunes rise in the recession. (Washington Post) [
Kinda’ like a ‘heck of a job, brownie’ (Katrina) moment. Foreclosure
backlogs swell nationwide States are wrestling with backlogs, exacerbated
by homeowners who continue to fall behind on payments. Foreclosure
properties become eyesores Foreclosures
pit suburbia against Wall Street (Washington Post) [ It aint just the
foreclosures that pits people against wall street and it aint just suburbia. No, there is no modern day alchemy that spins
worthless paper into gold except fraudulently for the frauds on wall street
who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and
gold, precious metals, at everyone else’s expense including main street. The
catering to fraudulent wall street was a loser ab initio! That so-called
‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan
and now ‘no-recession-helicopter-ben-bs-bernanke’ has failed miserably except for the frauds on wall
street who commissioned up and down; and, make no mistake, those
computer-programmed high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. The frauds on wall street
et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! Jobless
claims worse than expected at 428,000 I
thought the following was interesting: 15
Worst Housing Markets for Next 5 Years -
Business Insider Provided by The
Business Insider's Gus Lubin and Linette Lopez ‘If you bought a home in Miami in 2005,
we're sorry: over the following six years it depreciated in value by more than
54.3%.
And the rebound -- if
there is a rebound -- won't come soon.
Between Q2 2011 and
Q2 2016, Miami home prices will decline at an annualized rate of 0.7%, according to data provided by Fiserv Case Shiller.
Fiserv identified 15
housing markets that will appreciate at an annualized rate of less than 1.5% --
a pretty lousy investment. If you stay out of these markets, the national
average is slightly better at 3.7%.
Here are the 15
Worst Housing Markets For The Next Five Years
The worst place to
invest: Miami, Florida
Cumulative growth from
2005 to 2011: -54.3%
Annualized growth from
2011 to 2016: -0.7%
Trough: Q3 2012
The second worst
place to invest: Atlantic City, New Jersey
Cumulative growth from
2005 to 2011: -34.05%
Annualized growth from
2011 to 2016: 0.2%
Trough: Q3 2012
3. Nassau County,
New York
Cumulative growth from
2005 to 2011: -27.3%
Annualized growth from
2011 to 2016: 0.7%
Trough: Q4 2011
#4 (tie) Fort
Lauderdale, Florida
Cumulative growth from
2005 to 2011: -52.9%
Annualized growth from
2011 to 2016: 0.8%
Trough: Q4 2012
#4 (tie) Midland,
Texas
Cumulative growth from
2005 to 2011: -40.95%
Annualized growth from
2011 to 2016: 0.8%
Trough: Q1 2009
#4 (tie)
Washington, D.C.
Cumulative growth from
2005 to 2011: -28.1%
Annualized growth from
2011 to 2016: 0.8%
Trough: Q1 2009
#7 Abilene, Texas
Cumulative growth from
2005 to 2011: -18.9%
Annualized growth from
2011 to 2016: 1.0%
Trough: Q1 2009
#8 Morgantown, West
Virginia
Cumulative growth from
2005 to 2011: -4.15%
Annualized growth from
2011 to 2016: 1.1%
Trough: N/A
#9 (tie) Austin,
Texas
Cumulative growth from
2005 to 2011: 2.63%
Annualized growth from
2011 to 2016: 1.2%
Trough: Q4 2012
#9 (tie)
Waterloo-Cedar Falls, Iowa
Cumulative growth from
2005 to 2011: -2.73%
Annualized growth from
2011 to 2016: 1.2%
Trough: N/A
#11 (tie) Baton
Rouge, Louisiana
Cumulative growth from
2005 to 2011: -14.48%
Annualized growth from
2011 to 2016: 1.4%
Trough: Q1 2012
#11 (tie) Amarillo,
Texas
Cumulative growth from
2005 to 2011: -10.5%
Annualized growth from
2011 to 2016: 1.4%
Trough: Q4 2012
#11 (tie)
Lancaster, Pennsylvania
Cumulative growth from
2005 to 2011: -5.15%
Annualized growth from
2011 to 2016: 1.4%
Trough: Q2 2012
#11 (tie) Monroe,
Louisiana
Cumulative growth from
2005 to 2011: -11.31%
Annualized growth from
2011 to 2016: 1.4%
Trough: N/A
#11 (tie)
Shreveport, Louisiana
Cumulative growth from
2005 to 2011: -10.38%
Annualized growth from
2011 to 2016: 1.4%
Trough: Q3 2011 ‘
Moody's
downgrades Portugal's debt (Washington Post) [ And, it won’t be long before things get
‘greasy’ with Greece back at the trough; and, italian anyone, along with the
other PIIGSUS. Europe
Persists in Seeking a Solution for Greece New York Times | European bankers said that they had not
given up on effort to help sort out Greece’s finances, a day after a major
ratings agency said it would consider Greece to be in default. US worse than Greece? RT | Max talks to economist Yanis
Varoufakis about the bailout and austerity packages for Greece. Moody’s
July 4 Bomb: Rating Agency Finds 10% Of Chinese GDP Is Bad Debt, Claims “China
Debt Problem Bigger Than Stated” Tyler
Durden | The timing on the earlier pronouncement that rating
agencies may have found religion could not have been better. Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ Drudgereport: Portugal's
Debt Downgraded to Junk...
CHINA:
USA 'ALREADY DEFAULTING'...
DOLLAR
TO 'LOSE RESERVE STATUS'
Economy
Expected to Have Major Slide in Months Ahead...
NEW
IMF CHIEF FROM CHICAGOLAND...
MARK
HALPERIN CALLS OBAMA 'A DICK' ON LIVE TV...
POLL:
Obama 42%, any
Republican 46%...
Campaign
signals fundraising fail...
UPDATE:
Minnesota Government Shuts Down...
Washington
state closes tourism office...
Florida
state workers get pink slips, more cuts ahead...
FEDS
STRIKE DOWN STATE'S BAN ON RACE CONSIDERATION IN COLLEGE ADMISSIONS...
SoCal
Looks to Secede from California...
A fight over what we can keep In Minnesota and elsewhere, the struggle is over what is promised versus what is affordable. (Washington Post) [Will Your Pension Be Worthless? Mac Slavo | We know the Federal and State governments are in serious fiscal trouble. States face shortfall for retirees (WP) Public workers’ retirement funds had a gap of $1.26 trillion at the end of fiscal 2009 Minnesota government shuts down Politico | Minnesota’s government shut down at midnight local time Friday after six months of negotiations. Record 44.7 Million People Celebrate Geithner’s Departure And The End Of QE2 Through Foodstamps Zero Hedge | April participation in Supplemental Nutrition Assistance Program (SNAP), better known as “foodstamps”, shows yet another record, this time 44.647 million people.
Debt
Increased More Under Geithner Than Under Any Treasury Secretary in U.S. History
CNS News | Timothy
Geithner oversaw the largest increase in the national debt of any Treasury
secretary in American history.
MORE
CONFIRMATION: The World Economy Is Rolling Over Business Insider | The latest batch
of PMI data is confirming that the world economy is still rolling over.
While
Criminal US Bankers Receive Golden Parachutes, Barbarian Afghanistan Has Just
Arrested Executives Of Failed Kabul Bank Tyler Durden | Sometimes it is good to put things in
perspective when comparing developed democracies like America and barbaric
despotic dictatorships like Afghanistan.
Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman … Yet, one must
ask what have they been doing and already getting paid for? Roche 'The worst
part of it ...Obama, who vowed change,
has done almost nothing to fix any of it and in fact continues most of the
policies that helped get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud )
National / World
NATO
War Crimes: Depleted Uranium Found in Libya by Scientists Global Research | War crimes and
crimes against humanity have been and continue to be committed in the Libyan
Arab Jamahiriya by NATO.
Paul
Joseph Watson: 2011 – World In Crisis PrisonPlanetLive | Paul Joseph Watson, writer and
webmaster for Infowars.com and Prisonplanet.com, talks to WeAreChange
Birmingham about the staggering amount of crises to hit the globe so far in
2011, including the Arab spring and the bombardment and invasion of Libya.
Afghanistan
spending questioned Senators ask why the Pentagon is paying for projects
usually funded through the State Dept. (Washington Post) [ If only the question
concerned a concept foreign to and lost on the senate; viz., why is the nation
spending money it doesn’t have on wars the nation doesn’t need. Well, unless one
expects the pentagon / military-industrial-complex / cia to prostrate
themselves before the senate and confess (don’t hold your breath), quite simply
in large part the reason is that ultimately it’s much easier to steal when in
control of the flow of the ‘dough’ (ie., flying in 360 tons of $100 bills gone
missing, etc.). Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then
headed for an inevitable default? As President Bush prepared to invade Iraq in
September 2002, the head of his economic policy council, Lawrence Lindsey
publicly estimated such a war could cost $100 billion to $200 billion. Patrick J.
Buchanan July 5,
2011Lindsey had committed candor, and the stunned Bushites came down on him
with both feet.“Baloney,” said Donald Rumsfeld. The likely cost would be $60
billion, said Mitch Daniels of the Office of Management and Budget. We can
finance the war with Iraqi oil, said Paul Wolfowitz.By year’s end, Lindsey was
gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”And the cost of the Iraq War? It has passed $1 trillion…’ ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and pervasively
americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic – lawyer)
is one of those typically with a ‘pre or post’ arrangement, whether implicit or
explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt,
defacto bankrupt, fallen america.
Indeed, the scenario typifies that national drain / sinkhole new york (new york
/ new jersey metro) where, for example, FBI informants were routinely exposed
by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and
were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this
was documented with authority in the book ‘Goombata: The Improbable Rise and
Fall of John Gotti and His Gang’ Cummings /
Volkman Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
As
NASA transitions, U.S. space politics in a state of flux (Washington Post) [ U.S. space politics? I
didn’t know there was such a thing. But I, and I’m sure all know that ‘u.s.
politics are spaced’. Flux? One could only hope. I’d say, ‘fleeced’; as in
we’ve all been fleeced. Sterner:
5 myths about NASA (Washington
Post) [ If you can’t get past the first myth; viz., that they actually set foot
on the moon, the other 5 so-called myths become irrelevant. Indeed,
post-Eisenhower, and certainly post-Kennedy-assassination / coup d’etat, NASA
was all military / military industrial complex (moreover, someone knowledgeable
about such matters said essentially that in explaining to my surprise the
transition to the shuttle program it was said there was greater military
application in same). In any event, Russia’s been doing quite a bit of ‘heavy
lifting’ vis-à-vis the space station, but not inordinately so. All I can say
with certainty is that the universe beyond this solar system is forever
protected / insulated. The fact is, they never set foot on the moon; and, in
light of the pervasive corruption in and defacto bankruptcy of the nation,
their perpetual wars toward making a hell on earth militate against anything
but trying to do even just a little bit better (for a start),
terrestrially. NASA wants
mission to bring Martian rocks to Earth (AP) Why? They already have
that and more: Launch
of secret US space ship masks even more secret launch of new weapon The
Militarization of Outer Space: The Pentagon’s “Space Warriors” Global Research | It’s not as if
things aren’t bad enough right here on planet earth. Now the Defense Department
wants to up the stakes with new, destabilizing weapons systems that will
transform low- and high-earth orbit into another
“battlespace.” buzz aldrin
wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if
he already has the footage in the can since you won’t be able to use the moon
footage for the new boondoggle video ... OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO
BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE
(IMAGINATION).
President
summons lawmakers With just over two weeks remaining, Obama calls lawmakers
to White House to break debt stalemate.
(Washington Post) [ Summons?
‘Wobama the b’ (for b***s***)? Romney is quite correct, At
N.H. town hall, Romney says Obama has made the economy worse (WP) ; but,
not just the economy. There is anything about what a president does that wobama
hasn’t failed at other than that ever so smooth jive-talkin’ he does that I
find beyond the pale that anyone is even listening to his b***s***; or rather,
Mr. Teleprompter’s words written / scripted by who knows who. What we do know
is that what he says has absolutely no meaning beyond the saying of the words
which flow so trippingly o’er his tongue. His political opportunism /
soundbites / appearances along with ‘michelle his bell’ have become so unctuous
and predictably transparent that they have become nauseatingly unwatchable.
Summons? He’s not worthy of respect much less attention; particularly owing to
his own abandonment of precepts and promises upon which he ran and for which he
was elected. He’s a total embarrassment!
U.S.
debt limit affects world finances The stand-off between congressional
Republicans and the Obama administration over raising a legal limit on how much
the nation can borrow has been filled with dire warnings about what will happen
if the U.S. government fails to pay its debts. (Washington Post) [ Stand-off … that’s
rich … or in terms of prevalence and consequence, poor. The term brings to
mind, in a manner of speaking, a shoot-out. And, further brought to mind is a
visual where all pervasively corrupt, defacto bankrupt america’s venal,
incompetent politicians / power-brokers / lobbies / players form a big circle
and in unison fire at will at the invisible target in the middle. Parties
at odds on deficit reduction Lawmakers in both parties plot strategies that
could make the deal difficult to find common ground. (Washington Post) [ Yes …
Odds on … favorite … a lose / lose solution. The realistic scenario brings to
mind that old adage that, ‘you can’t make a silk purse out of a sow’s ear’ …
and, yeah, the reality is all that bad. A
debt ceiling leadership failure On Leadership | Congress’s failure to fix
the budget deficit is due to fundamental differences of opinion on the role of
government. U.S.
consumer confidence unexpectedly (but realistically – and not because of the
budget stalemate) falls (Washington
Post) [Davis ‘This is how we pay off
our current debts and I think bondholders are simply happy to get anything out
of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes
closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The
funniest thing about this (and you have to laugh) is to see Conservative pundits
get on TV and talk about how we need to cut $100Bn worth of discretionary
spending to "fix" this (while continuing to spend $1Tn on the
military and $1Tn on tax cuts for the top 1% each year). There is no fixing
this and even a Republican said you can’t fool all of the people all of the
time. THIS HOUSE OF CARDS IS TEETERING
FOLKS – PLEASE BE CAREFUL OUT THERE! ‘President
enters the debt talks Obama hosts sitdowns as leaders remain divided over
spending reductions and tax increases. (Washington Post) [ Oooooh! The big gun
has arrived, with the biggest gun, Mr. Teleprompter just a hot line away. Come
on! Let’s get real! What does wobama the b (for b***s***) know that any of
these other fellow nincompoops don’t; particularly about economics / finance,
even compared to ‘Lobotomy Joe’. Market Crash 6/30/11?Technical indicators suggest
market collapse may begin by June 30th Dennis Slothower is one of the world’s
leading technical analysts. He’s one of the few advisors whose readers
completely avoided ALL losses during the disaster that was 2008. And now he’s
issuing another dire warning. His technical indicators suggest that the market
manipulation we’ve seen over the last several months is about to come to an
end…and that means thousands of investors are about to get clobbered. This
correction could begin as soon as June 30th– so
it’s important that you take action now to prepare yourself. StealthStocksOnline.com [ Oooooh! Bring in the big guns;
viz., ‘wobama the b’ (for b***s***) … sounds like a plan! After all, ultimately
it’s Mr. Teleprompter who’ll have the final say; and, it seems like wobama’s
got a lock on that ‘relationship with Mr. T; you know, ‘pecking order’ kinds of
stuff … Then begs the question: Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile
‘maestro’ greenspan and failed miserably except for the frauds on wall street
who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is certainly
being felt globally as well as domestically and has little to recommend it. My
own direct experience with the region(s) (particularly new jersey, new york,
virginia, connecticut, california) carves out no exception for the prevalence
of the worst of human nature; which is now collectively and pervasively
americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
With QE2
Dead, Are We Staring Down a Bull or Bear? By
Benzinga.com Jul 05, 2011 ‘…we're in for doom and gloom in the future. With no
bullets left in the gun for Bernanke to fire …, the government may not have the
means to stop the panic a second time. Things could get ugly in a hurry…’
‘One of
the most convincing cases often made by the stock-market bulls is that stocks
are super cheap, with interest rates at rock bottom and the S&P 500 trading
at just 13 times forecast earnings for the 2011. But the market may not be as
cheap as it appears — and it could get a lot cheaper, according to a note today
from Morgan Stanley equity strategist Adam Parker.
First, Mr.
Parker shoots all kinds of holes in the market-is-cheap theory. For one thing,
the market is only slightly cheaper today than its average forward P/E of 13.6,
dating back to 1976.
And the
market isn’t cheap at all using other ratios, such as price-to-sales (1.4x,
compared with a long-term average of 1.1x), price-to-book (2.3x compared with a
long-term average of 2.2x) or price-to-trailing earnings (16.1x compared with a
long-term average of 17.8x).
Meanwhile,
the S&P 500′s dividend yield of just 1.7% is way below an average of
2.7% dating back to 1964.
And this
one is maybe the most interesting: Mr. Parker argues that the biggest-cap
companies are providing most of the stock market’s cheapness, leaving the rest
of the market fairly valued. If the biggest 30 stocks are excluded, the
market’s forward P/E ratio is 13.5x, nearly matching the historical average.
The biggest 30 stocks are trading at 11.5x forward earnings (an echo of the WSJ
story today about how
investors have abandoned big-cap tech).
“Our view
is that the mega caps are undervalued and the rest of the market (stocks 31
through 500) are modestly overvalued,” Mr. Parker writes.
And now
the kicker: The market will likely get even cheaper. Analyst earnings forecasts
are now way above their long-term average, up 18.4% in the past year, compared
with an average over the past 20 years of 7.91%. Earnings forecasts seem likely
to fall back to earth, which alone could drive the market’s forward earnings
multiple down to 10.6x, Mr. Parker estimates.
Meanwhile,
Mr. Parker estimates that inflation-adjusted earnings growth has averaged 3.77%
since 1948, and it will likely be lower than that in the next 10+ years, hurt
by higher inflation and slower and more volatile economic growth around the
world.
If he’s
right, then the market is more expensive now than it seems. His forecast is
that forward P/E will fall to 10.
Update:
A commenter
raised the issue of cash — the top 1500 companies have some $1.5 trillion in
cash sitting on their balance sheets, fuel for future growth, stock buybacks,
dividends, etc. That should make the market more attractive, but Mr. Parker
dismantles this one, too, saying companies have net debt near pre-Internet
bubble levels, that much of the cash is overseas and must be repatriated and
that investors have been cutting the premium they’re willing to pay for
corporate cash in recent years.’
S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell ‘Are equities positioned for a nosedive? [Unequivocally, yes!
Jobless claims at 428,000 much worse than expected; and, don’t forget, these
are desperate ‘pre-election times’ when regardless of factual reality (ie.,
fake reports, data, as, ie., ‘wobama hometown’ corrupt chicago ISM is up as
even their youth gangs are showing increased criminal activity which probably
accounts for the rise; ie., meth, crack labs, etc.?) data / reports are fudged
/ faked / spun. Foreclosure, distressed
sales up, at least on paper with contracts signed, so no surprise nor reason to
cheer here, as markets worldwide jump on the american crazy train for a
short-lived manipulated bounce as all problems
remain. This is the same month end
(and quarter, half) spurt / window dressing based on b***s*** alone to keep the
suckers suckered and an especially great time to sell / take profits since
there’s much worse to come! ] This
week the S&P 500 surged 2.6% from a week ago, to close at 1,320. The
equities index has nearly reversed its one-month drop, after closing at
1,331.10 on May 27.
At first glance, an
auspicious close to both QE2 and the second quarter. Investors cheered news
that Greece would avoid a near-term default on its debt. Still take a close
look at the historical tight correlation between the S&P 500 and the
four-week rolling average for initial jobless claims, and the equity recovery
could be a temporary blip.
http://blogs-images.forbes.com/maureenfarrell/files/2011/06/6-30MFjobless.png
This chart plots the
S&P 500 index against an inverse of the 4-week average of initial jobless
claims. If you can excuse the tiny font, the chart illustrates a tight and
curious correlation between these metrics since December 2006.
Looking back over the
past four and a half years, these lines tends to stay tightly correlated, and
when they diverge, they quickly retreat back together. Looking back at this
chart, the equity market continued to tumble through January 2009 as more
Americans filed for unemployment each week. Conversely as these jobless claims
dropped to 450,000 mark, the market largely moved upwards.
Now the question is:
will jobless claims move and stay below 400,000? If so perhaps, the equity
rally will continue, but if they remain stuck around 428,000, the number
reported today, expect a downturn in the equities market.
Jobless claims are
clearly a barometer of the larger economic picture and are more of a
coindicator than a leading indicator. This chart shows that initial jobless
claims(upside down) and the S&P 500 move in concert. Over a month or two,
if they start moving in wildly different directions, it’s a good bet that one of
them is wrong.
Special thanks to my
colleagues, statistical wizards John
Ray and Scott DeCarlo
for their assistance in constructing this chart.’
Dick Bové:
Lost Finance Jobs Are Gonna Stay That Way…FOREVER
S&P
Reaches Possible Reversal Point at
Minyanville
Moody's
cuts Portugal to junk, warns on 2nd bailout
John
Mauldin: My View on the Last Half of the Year at Minyanville By John Mauldin Jul
05, 2011 ‘What does the end of QE2 mean?
What can we expect from Europe? Is a commodity bubble getting ready to burst?
Is it really a bubble? Editor's note:
The following was originally published by John Mauldin on July 2, 2011.
We are halfway through the year, and what a ride it has been. Today I will
share my thoughts on what the next six months could look like, and endeavor to
keep it short and simple, as we have a holiday weekend. There will be more than
a few charts. What does the end of QE2 mean? What can we expect from Europe? Is
a commodity bubble getting ready to burst? Is it really a bubble? There is a
lot to cover.
I recorded a PBS show a month or so ago, and it is airing this weekend on a
number of stations around the country, so look for details at the end of the
letter. Now let’s jump in.
We Should Be OK, Except…
The economy should be in Muddle Through range (around 2% growth), absent any
shocks. For instance, today we had the June ISM number, which was stronger than
most analysts expected, at 55.3. There was a lot of whispering that it could
dip below 50. Some of the internal components were a little soft, though. New
Orders were barely above 50. And Backlogs fell below 50. Exports fell to the
lowest level in two years (more on that below). Of the 18 industries surveyed,
only 12 reported growth.
But Muddle Through is not going to allow us to really cut into the unemployment
problem. We need at least 3% and most economists think we need to see 3.5% to
result in some real strong jobs numbers for several months in a row. That just
doesn’t seem to be in the cards. Richard Yamarone at Bloomberg is calling
for a recession by the end of the year, and he sent me a rather vivid
PowerPoint of his latest thoughts. Let me share a few of those slides with you.
The following chart shows what I mean by Muddle Through not being enough to
really cut into unemployment. As GDP seems to be slowing rather than picking
up, the correlation between employment and growth is not encouraging. And if
you look at the NFIB (National Federation of Independent Businesses) data,
small businesses are not really back in the hiring game, and that is where the
action needs to happen. We will see a new survey next week, but I doubt we will
see a major jump in expectations.
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/M%20chart%201.jpg
About two years ago I wrote a rather lengthy piece about why unemployment would
be a problem until at least the middle of the decade. When you lose 8 million
jobs, with about 2-3 million of those jobs permanently gone, it is tough to dig
out of the hole. We can’t look to housing construction to be the driving force
that it once was for another 3-4 years, and commercial construction is falling.
I was talking to a
friend yesterday who is a director on two local bank boards.
He pointed out that while the government wants banks to lend, the regulators
(the Fed) are basically saying they can do development loans without very large
equity components. They want 50% loan-to-value of very-reduced valuations.
Let’s look at two charts from Rich. One shows commercial construction and the
other shows regional and strip mall vacancies. Construction spending for May
2011 fell 0.6% below its revised level in April, and is 7.1% below its May 2010
level. This is not the stuff that makes real estate moguls want to part with
their cash. Nor does it bode well for construction jobs.
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/M%20chart%202.jpg
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/M%20chart%203.jpg
OK, only two more charts from Rich (Over My Shoulder subscribers can see the
whole thing. More on that below.) The first is the smoothed ECRI (Economic
Cycle Research Institute) index over the last 20 years. We can see it turning
over. The ECRI weekly leading index decreased to 126.4 for the week ending June
24, from an unrevised 127. The smoothed, annualized growth rate fell to 2% from
an unrevised 2.9%. The ECRI WLI has been consistently losing momentum in recent
months, adding to concerns about the sustainability of the recovery.
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/M%20chart%204.jpg
The ECRI itself points out that their index is simply signaling a weakening
economy but does not signal a recession. And you can see that there have been
similar downturns in the past without a recession or even a recovery. But the
recent trend is disconcerting and must be watched.
And the last chart is one I had not seen before, and is interesting. Rich notes
that if year-over-year GDP growth dips below 2%, a recession always follows. It
is now at 2.3%.
Growth is clearly decelerating. Look at the growth numbers from the St. Louis
Fed website for the last six quarters:
2009-10-01 13019.012
2010-01-01 13138.832
2010-04-01 13194.862
2010-07-01 13278.515
2010-10-01 13380.651
2011-01-01 13444.301
It will be very interesting to see, at the end of the month, what the numbers
are for the second quarter. Another quarter like the first quarter and we
should either be close to or actually dip below 2%.
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/M%20chart%205.jpg
What Happens If There Is a Shock?
The problem with a slow-growth economy that is basically at stall speed is, if
there is any type of “exogenous” shock, the economy can easily tip over into
recession. There are several potential sources of a shock coming from the
outside the US.
The first is from Europe. I have been writing about this for a very long time.
It is the number one thing in my worry closet. We have dodged a short-term
bullet with Greece and Europe coming to terms this week, but in late July they
will have to find AT LEAST €50-70 billion more euros in loans and rollovers,
and then more next year. Without projected asset sales it could reach €100
billion very easily. And willpower is waning on the part of creditor countries.
Opposition against throwing good money after bad is increasing, as recent polls
in Finland, Germany, the Netherlands, and Slovakia have shown. How long Merkel
can hold her coalition together in the face of growing discontent is not clear.
Powerful, authoritative voices in Germany are starting a daily chorus of
chanting “no” to more bailouts. ‘
[$$]
Once Again, Gold Makes Sense at
TheStreet
Top 3 Reasons Markets Were Mixed After Last Week’s Gains Wall St. Cheat Sheet ‘ With five straight days of gains, the markets had their best week in two years leading up to the Fourth of July weekend. But as we return from the weekend’s fun in the sun, markets are mixed, with only the Nasdaq (NASDAQ:QQQ) showing minor gains.
Markets closed mixed on
Wall Street today: Dow -0.10% , S&P -0.13% , Nasdaq +0.35% , Oil +2.02% ,
Gold +2.25% .
On the commodities
front, Oil (NYSE:USO) jumped back up to nearly $97 a barrel. Precious
metals also took a turn, with Gold (NYSE:GLD) rising to $1,516, while Silver
(NYSE:SLV) was up 5.49% to $35.56.
Today’s markets were
mixed because:
1) Portugal may be the
new Greece . Moody’s cut Portugal’s credit rating by four levels to Ba2, two
notches into junk territory . Moody’s says Portugal will need a second bailout,
like the one currently being planned for Greece, before it can return to
capital markets.
2) May factory orders .
This data may have been the one bright spot in a gloomy day of trading, and
along with energy sector gains, one of the only reasons markets weren’t as bad
as they could have been. New orders for manufactured goods rose $3.5 billion in
May, or 0.8%, to $445.3 billion after decreasing 0.9% in April.
3) Poor financials.
Stocks dropped today for the nation’s biggest financial firms: JPMorgan
(NYSE:JPM), Bank of America (NYSE:BAC), Citibank (NYSE:C), Goldman Sachs
(NYSE:GS), Wells Fargo (NYSE:WFC), Morgan Stanley (NYSE:MS), and just about
every other financial stock trading on the NYSE. And when the banks have a bad
day, everyone has a bad day. The New York Stock Exchange’s gainers were roughly
even with decliners in today’s trading…’
First-Half
Proves ‘Humbling’ For Paulson, Einhorn & Ackman
What Country Is the Safest Place to Invest Your Money? (CNBC) [ Wow! Pervasively corrupt, defacto bankrupt america is # … 15 … orwellian england is # … 22 … keep ‘dem’ wars rollin’ … they do wonders for the economy! ] ‘ Norway is the least-risky nation on the planet, Greece is the riskiest country, and the debt of the United Kingdom is surprisingly suspect relative to other developed nations, according to a new index of sovereign risk just released by the largest publicly traded asset manager.
The Nordic country “benefits from extremely
low absolute levels of debt, a strong institutional context and very limited
risks from external and internal financial shocks,” said Benjamin Brodsky,
head of fixed income asset allocation at the firm, which has $3.65 trillion
under management.
BlackRock created the
investing tool to capitalize on macro themes that have dominated headlines as
Europe’s
woes and the U.S. debt ceiling become the biggest issues of 2011. Macro
investing has also seen more inflows than any other hedge-fund category this
year, according to a number of surveys.
The asset manager
attempts to go a step further than just the usual
debt-to-gross-domestic-product ratio analysis. It also factors in an exhaustive
list of metrics that fall under four broad categories: proximity to distress,
external finance position, banking sector health and willingness to pay.
“The
high correlation between the BlackRock Sovereign Risk Index and CDS spreads
suggests that we have identified significant drivers of sovereign risk, even
while avoiding direct inclusion of market-based measures in the index,” states the report.
Other notable surprises
in the 44-country index, which assigns a single score to each nation, are
Canada at No. 6, the U.S. at 15th just behind China and the U.K. at 22, with a
negative “risk
index score.”
The U.K., a prime
example of the broad factors the index takes into account, is behind countries
including Russia and Peru because of its weak banking sector.
“While
the country’s
institutional strength and integrity is notable, and it is insulated from
external financial shocks, its weakness is attributable to a weak fiscal space
profile, while contingent liabilities to the financial sector drag,” states the report. “In addition, the U.K.’s growth of credit has
outpaced GDP in recent years, a hallmark of a bubble.”
Rounding out the bottom
five of the index, following Greece, are Portugal, Venezuela, Egypt and Italy.
Sweden, Switzerland, Finland, and Australia are among the top five for your
money. But the highest score, by far, is the debt of Norway.
“They’re oil rich and fiscally
conservative,”
said Larry McDonald, author of "A
Colossal Failure of Common Sense, the Lehman Brothers Inside Story."
The country has about $300,000 per person in oil reserves, according to
McDonald, who gave a speech at a bank in the country last year.
Norway’s GDP per capita is the seventh-highest
in the world, and it is the ninth-biggest oil exporter in the world, according
to the CIA World Factbook. Besides petroleum products, the country’s biggest exports are
machinery, metals, chemicals, ships and fish, according to the CIA…’
And it is not just
Greece. After Greece is dealt with, the eurozone must deal with Ireland and
Portugal. And the market is increasingly suggesting there is more risk there
than the area can handle. Look at the graph below, which shows the steady rise
of interest rates for Ireland and Portugal. This looks like Greece not so long
ago. And Portugal now has higher rates than Ireland. This means that both
countries are effectively cut out of the private market. (www.ifr.com)
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/M%20chart%206.jpg
Both countries keep saying they are not Greece, but the bond markets are not
buying it. And as I noted last week, when Greece defaults, and they will at
some point, the contagion to other countries will be quick and severe. And
Spain will be included. The Italian bank index has been in free fall of late.
Money is flying out of Greek banks. Indeed, deposits in all the peripheral
countries are falling. It is quite possible we get a credit or banking crisis
in Europe before we get a sovereign default crisis. The longer Greece waits,
the more they try and kick the can down the road, the worse it gets for their
banks. And Greece has NO money to bail out its banks. Look at this graph from
Bridgewater:
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/M%20chart%207.jpg
And quoting Bridgewater (one of the more brilliant sources of information in
the world):
While the focus is for
the moment on the question of bridging Greece’s immediate funding
need, it’s important not to lose sight of the bigger picture, which is that
indebtedness is not the periphery’s only problem, and is in many way only a
symptom of the structural imbalances (extremely negative current account and
budget deficit) that plague it. No amount of funding will change the fact that
the periphery continues to be extremely uncompetitive; that in order to become competitive,
it needs to become much cheaper; and that as long as it continues to be a
member of the euro, the only way to achieve this is through sustained wage cuts
and deflation that would need to be dramatically more extreme than the
adjustments they’ve experienced thus far.
This could put Europe into a recession. And that is not good for US exports or
for China. China is already in tightening mode. A hard landing is still too far
away to call, but things could get softer, which will definitely affect commodity
prices, which are already rolling over.
And Then There Was No QE
And as of today, the only QE will be that of the Fed taking the drawdown on its
mortgage book and using it to buy Treasuries, which it has been doing. The
markets are going to have to come up with $50 billion in bond purchases, and
the recent auctions have not been all that good. I know the markets liked the
ISM numbers, but a lot of the rise this week was quarter-end gaming by mutual funds
and money managers. Let’s see if there is follow through in July. The last time
QE was stopped the markets swooned. That is only a data point of one, but it’s
all we have.
I think this is a very risky next six months. Maybe we avoid a crisis somewhere
that affects the US and thus the world. If we do, if Europe can kick the can
down the road another six months, then while a slowdown seems to be in the data,
it is not yet suggesting a recession. I would be very careful about any
long-only trades, whether it be stocks or commodities or bonds. We just don’t
know – there is less certainty than at almost any time I can remember.
“Endgame” Program
“ENDGAME: The End of the Debt Supercycle and How It Changes Everything,” a
program I recorded with McCuistion TV of Dallas, will air on Sunday, July 3, at
12:30 PM on KERA, Channel 13, Dallas, and also on other PBS stations around the
country. You can also view
the entire episode next week on the McCuistion website.
Tulsa for the 4th
My twins, Abigail and Amanda, live in Tulsa; and this year they have demanded
that Dad come to them. It was their birthday last Thursday, so we will
celebrate their 26th. Fireworks on the 3rd after the birthday dinner! For
whatever reason, I do like a great fireworks display. Always have.
It seems like just a few months ago that we went to the Dallas Airport and saw
them for the first time, at six months old. They grew up so fast. The picture
below is from the cover of Twins magazine, sometime in 1987, I think.
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/M%20image.jpg
Too cute, yes? And they grew up into such beautiful young ladies, both inside
and out. One was Homecoming Queen and the other Senior Queen. One of the most
touching moments in my life was when one of them won Homecoming Queen and the
other just glowed with love and affection for her sister. Not a hint of
jealously. I caught it in a picture, one of the few times that Dad actually had
the camera in the right place at the right time. And Dad maybe had a moist eye
or two. Dad is proud, and justifiably so.
As it turns out, my good friend Louis Gave of GaveKal married an Oklahoma girl,
and her family lives about 90 minutes away from Tulsa on a lake somewhere in
Oklahoma, where he visits his in-laws for month every year, with their four
kids in tow. Brave man that he is, he has invited my clan to come over on the
4th for lake time and BBQ, and there was an enthusiastic “Yes” from the five of
my kids who will be in Tulsa, plus spouses and other friends! So the Mauldin
horde will descend on the Gave tribe and see just how much food they really
have stored up for invasions.
Have a great 4th of July if you are in the US or celebrating as an expat in
some remote locale. It promises to be a good one for Dad, and getting to spend
time with Louis is a bonus. He is simply one of the smartest financial
minds I know.
Editor's Note: This content was taken from John Mauldin's weekly E-Letter,
Thoughts From the Front Line. See more at John's home page.
Stay on top of the best financial news and commentary on Wall Street by
following us @Minyanville.’
Europe Persists in Seeking a Solution for Greece New York Times | European bankers said that they had not given up on effort to help sort out Greece’s finances, a day after a major ratings agency said it would consider Greece to be in default.
ECB
unlikely to walk away from Greek banks MarketWatch | Tensions rising between central bank,
ratings companies.
JPMorgan
Chase’s Jamie Dimon as New U.S. Treasury Secretary? Zero Hedge | Relentless printing of
new bonds would necessitate round after round of QE.
ECB Will
Continue to Accept Greek Debt Financial
Times | The European Central Bank will continue to accept Greek
debt as collateral for loans unless all the major credit rating agencies it
uses declare it to be in default.
The
ECB Already Has A ‘Plan B’ In Case The Ratings Agencies Wreck The Greek Bailout
Business Insider | The
big chatter over the last few days has concerned the ratings agencies, and
whether they would torpedo the Greek bailout.
Moody’s
July 4 Bomb: Rating Agency Finds 10% Of Chinese GDP Is Bad Debt, Claims “China
Debt Problem Bigger Than Stated” Tyler
Durden | The timing on the earlier pronouncement that rating
agencies may have found religion could not have been better.
US worse than Greece? RT | Max talks to economist Yanis
Varoufakis about the bailout and austerity packages for Greece.
The
back-office power brokers Experts in managing troubled loans of commercial
real estate see their fortunes rise in the recession. (Washington Post) [
Kinda’ like a ‘heck of a job, brownie’ (Katrina) moment. Foreclosure
backlogs swell nationwide States are wrestling with backlogs, exacerbated
by homeowners who continue to fall behind on payments. Foreclosure
properties become eyesores Foreclosures
pit suburbia against Wall Street (Washington Post) [ It aint just the
foreclosures that pits people against wall street and it aint just suburbia. No, there is no modern day alchemy that spins
worthless paper into gold except fraudulently for the frauds on wall street
who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and
gold, precious metals, at everyone else’s expense including main street. The
catering to fraudulent wall street was a loser ab initio! That so-called
‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan
and now ‘no-recession-helicopter-ben-bs-bernanke’ has failed miserably except for the frauds on wall
street who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. The frauds on wall street
et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! Jobless
claims worse than expected at 428,000 I
thought the following was interesting: 15
Worst Housing Markets for Next 5 Years -
Business Insider Provided by The
Business Insider's Gus Lubin and Linette Lopez ‘If you bought a home in Miami in 2005,
we're sorry: over the following six years it depreciated in value by more than
54.3%.
And the rebound -- if
there is a rebound -- won't come soon.
Between Q2 2011 and
Q2 2016, Miami home prices will decline at an annualized rate of 0.7%, according to data provided by Fiserv Case Shiller.
Fiserv identified 15
housing markets that will appreciate at an annualized rate of less than 1.5% --
a pretty lousy investment. If you stay out of these markets, the national
average is slightly better at 3.7%.
Here are the 15
Worst Housing Markets For The Next Five Years
The worst place to
invest: Miami, Florida
Cumulative growth from
2005 to 2011: -54.3%
Annualized growth from
2011 to 2016: -0.7%
Trough: Q3 2012
The second worst
place to invest: Atlantic City, New Jersey
Cumulative growth from
2005 to 2011: -34.05%
Annualized growth from
2011 to 2016: 0.2%
Trough: Q3 2012
3. Nassau County,
New York
Cumulative growth from
2005 to 2011: -27.3%
Annualized growth from
2011 to 2016: 0.7%
Trough: Q4 2011
#4 (tie) Fort
Lauderdale, Florida
Cumulative growth from
2005 to 2011: -52.9%
Annualized growth from
2011 to 2016: 0.8%
Trough: Q4 2012
#4 (tie) Midland,
Texas
Cumulative growth from
2005 to 2011: -40.95%
Annualized growth from
2011 to 2016: 0.8%
Trough: Q1 2009
#4 (tie)
Washington, D.C.
Cumulative growth from
2005 to 2011: -28.1%
Annualized growth from
2011 to 2016: 0.8%
Trough: Q1 2009
#7 Abilene, Texas
Cumulative growth from
2005 to 2011: -18.9%
Annualized growth from
2011 to 2016: 1.0%
Trough: Q1 2009
#8 Morgantown, West
Virginia
Cumulative growth from
2005 to 2011: -4.15%
Annualized growth from
2011 to 2016: 1.1%
Trough: N/A
#9 (tie) Austin,
Texas
Cumulative growth from
2005 to 2011: 2.63%
Annualized growth from
2011 to 2016: 1.2%
Trough: Q4 2012
#9 (tie)
Waterloo-Cedar Falls, Iowa
Cumulative growth from
2005 to 2011: -2.73%
Annualized growth from
2011 to 2016: 1.2%
Trough: N/A
#11 (tie) Baton
Rouge, Louisiana
Cumulative growth from
2005 to 2011: -14.48%
Annualized growth from
2011 to 2016: 1.4%
Trough: Q1 2012
#11 (tie) Amarillo,
Texas
Cumulative growth from
2005 to 2011: -10.5%
Annualized growth from
2011 to 2016: 1.4%
Trough: Q4 2012
#11 (tie)
Lancaster, Pennsylvania
Cumulative growth from
2005 to 2011: -5.15%
Annualized growth from
2011 to 2016: 1.4%
Trough: Q2 2012
#11 (tie) Monroe,
Louisiana
Cumulative growth from
2005 to 2011: -11.31%
Annualized growth from
2011 to 2016: 1.4%
Trough: N/A
#11 (tie)
Shreveport, Louisiana
Cumulative growth from
2005 to 2011: -10.38%
Annualized growth from
2011 to 2016: 1.4%
Trough: Q3 2011 ‘
National / World
Is a U.S. Default Inevitable? Patrick J. Buchanan | Is America then headed for an inevitable default? As President Bush prepared to invade Iraq in September 2002, the head of his economic policy council, Lawrence Lindsey publicly estimated such a war could cost $100 billion to $200 billion. Patrick J. Buchanan July 5, 2011
Lindsey had committed
candor, and the stunned Bushites came down on him with both feet.
“Baloney,” said Donald
Rumsfeld. The likely cost would be $60 billion, said Mitch Daniels of the
Office of Management and Budget. We can finance the war with Iraqi oil, said
Paul Wolfowitz.
By year’s end, Lindsey
was gone, back, in Ronald Reagan’s phrase, “testing the magic of the
marketplace.”
And the cost of the Iraq
War? It has passed $1 trillion.
So Lindsey is worth
listening to. And he is now saving that the Obamaites may be wildly
underestimating the deficits America is going to run in this decade. Here is
why.
The average rate of
interest the Fed has had to pay to borrow for the last two decades has been 5.7
percent. However, President Obama is projecting the cost of money at only 2.5
percent.
A return to the normal
Fed rate would, by 2020, add $4.9 trillion to the cumulative deficit, says
Lindsey, more than twice the $2 trillion in savings being discussed in Joe
Biden’s debt-ceiling deal.
Second, Obama is
estimating growth in 2012, 2013 and 2014 at 4, 4.5 and 4.1 percent. But the
normal rate for a mature economy recovering from recession is 2.5 percent.
Hence, if we return to a
normal rate of growth, rather than rise to Obama’s projected rate, says
Lindsey, that would add $700 billion to the deficit over the next three years
and $4 trillion by 2020.
Taken together, a U.S.
return to a normal rate of growth of 2.5 percent, higher than today, and a
normal rate of interest for the Fed could add as much as $9 trillion to the
deficits between now and 2020.
New taxes on
millionaires and billionaires who ride around in corporate jets can’t cover a
tenth of 1 percent of these deficits.
Writes Lindsey, “Only
serious long-term spending reduction in the entitlement area can begin to
address the nation’s deficit and debt problems.”
His conclusion is
logical, but seems impossible to achieve when both parties are talking of
taking Medicare and Social Security off the table. Which makes his final point
all the more compelling:
“Under current
government policies and economic projections, (bondholders) should be far more
concerned about a return of their principal in 10 years than about any
short-term delay in interest payments in August.”
Lindsey is saying that
the probability of U.S. bonds losing face value through inflation or default is
high, given the size of the deficits we will be running and the improbability
that any deficit-reduction plan now out there can significantly reduce them.
Standard & Poor’s
and Moody’s are already talking of downgrading U.S. debt if the debt ceiling is
not raised by early August.
Is America then headed
for an inevitable default?
One Chinese economist is
already accusing us of defaulting, as the Fed’s flooding of the world with
dollars has seen the dollar lose 10 percent of its value against other
currencies in the last year.
Holding $1 trillion in
U.S. debt, China has watched the purchasing power of that U.S. paper plummet.
Understandably, Beijing fears that if we ever pay back all they have lent us,
it will be in U.S. dollars of far lesser value.
What should House
Republicans do?
Stick to their
principles and convictions.
For the cause of the
deficit-debt crisis has been the explosion in federal spending under Barack
Obama to the largest share of the U.S. economy since the climactic years of
World War II.
Administrations of both
parties contributed to this rise in the federal share of gross domestic
product. But the GOP committed itself in 2010 to rein it in, without raising
taxes. On that pledge the GOP triumphed and should keep its commitment.
First, because it is a
solemn undertaking with a nation disgusted with politicians who say one thing
and do another. Second, because our fiscal crisis, like Europe’s, is a result
of too much government, not too little revenue. Third, because there is no
credible school of economic thought that says raising taxes on the productive
sector when one in six workers is unemployed or underemployed is the way to
prosperity.
Under Obama these past
two years, the nation relied on the U.S. government to pull us out of the
ditch. But Obama’s $787 billion stimulus, his three deficits of 10 percent of
GDP, and Ben Bernanke’s tripling of Fed assets by buying the bad paper of big
banks and $600 billion in U.S. debt all failed.
For Republicans to agree
now to a tax increases that would violate their principles, their promises to
the voters and their basic philosophy — and be icing on the cake of Obama’s
debt-ceiling increase — would be politically suicidal.
Indeed, were the
Republican Party to do this, it would raise the question of why we need a
Republican Party.
These might be related:
U.S. debt limit affects world finances The stand-off between congressional Republicans and the Obama administration over raising a legal limit on how much the nation can borrow has been filled with dire warnings about what will happen if the U.S. government fails to pay its debts. (Washington Post) [ Stand-off … that’s rich … or in terms of prevalence and consequence, poor. The term brings to mind, in a manner of speaking, a shoot-out. And, further brought to mind is a visual where all pervasively corrupt, defacto bankrupt america’s venal, incompetent politicians / power-brokers / lobbies / players form a big circle and in unison fire at will at the invisible target in the middle. Parties at odds on deficit reduction Lawmakers in both parties plot strategies that could make the deal difficult to find common ground. (Washington Post) [ Yes … Odds on … favorite … a lose / lose solution. The realistic scenario brings to mind that old adage that, ‘you can’t make a silk purse out of a sow’s ear’ … and, yeah, the reality is all that bad. A debt ceiling leadership failure On Leadership | Congress’s failure to fix the budget deficit is due to fundamental differences of opinion on the role of government. U.S. consumer confidence unexpectedly (but realistically – and not because of the budget stalemate) falls (Washington Post) [Davis ‘This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘President enters the debt talks Obama hosts sitdowns as leaders remain divided over spending reductions and tax increases. (Washington Post) [ Oooooh! The big gun has arrived, with the biggest gun, Mr. Teleprompter just a hot line away. Come on! Let’s get real! What does wobama the b (for b***s***) know that any of these other fellow nincompoops don’t; particularly about economics / finance, even compared to ‘Lobotomy Joe’. Market Crash 6/30/11?Technical indicators suggest market collapse may begin by June 30th Dennis Slothower is one of the world’s leading technical analysts. He’s one of the few advisors whose readers completely avoided ALL losses during the disaster that was 2008. And now he’s issuing another dire warning. His technical indicators suggest that the market manipulation we’ve seen over the last several months is about to come to an end…and that means thousands of investors are about to get clobbered. This correction could begin as soon as June 30th– so it’s important that you take action now to prepare yourself. StealthStocksOnline.com [ Oooooh! Bring in the big guns; viz., ‘wobama the b’ (for b***s***) … sounds like a plan! After all, ultimately it’s Mr. Teleprompter who’ll have the final say; and, it seems like wobama’s got a lock on that ‘relationship with Mr. T; you know, ‘pecking order’ kinds of stuff … Then begs the question: Is Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This catering to fraudulent wall street was a loser ab initio! That so-called ‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan and failed miserably except for the frauds on wall street who commissioned up and down; and, make no mistake, those computer-programmed high-frequency trading volumes have now been maximized for nation-economy-draining profits for the frauds like never before and have never been higher. The QE and dollar-debasement policies were always predictably inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that was but in reality good only for the frauds on wall street. No, there is no modern day alchemy that spins worthless paper into gold except fraudulently for the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone else’s expense including main street. ‘ America’s shine is wearing off I know why we are falling into a cataclysm of debt and can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious freedom, freedom generally did they come to these shores. A rare exception to the influx of immigrants to this young nation who turned out to be more a virus to the indigenous peoples of this land than what could have been expected from those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those so positioned abroad would have represented a positive addition to the gene pool which, borrowing from an insurance term, viz., adverse selection, springs forth the notion of inevitability to the genocide of the indigenous populations while guaranteeing the decline we see throughout this foundering nation. The effects of these negative predispositions toward inherent criminality is certainly being felt globally as well as domestically and has little to recommend it. My own direct experience with the region(s) (particularly new jersey, new york, virginia, connecticut, california) carves out no exception for the prevalence of the worst of human nature; which is now collectively and pervasively americana. Report: SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen america. Indeed, the scenario typifies that national drain / sinkhole new york (new york / new jersey metro) where, for example, FBI informants were routinely exposed by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this was documented with authority in the book ‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but 5% of the world’s population, the u.s. has 76% of the world’s serial killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt america also spends more on military than all the nations of the world combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t, etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an ex-Justice official who quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street accountable for the meltdown. America Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Comic:
The Facebook Wall of the United States at
Minyanville http://image.minyanville.com/assets/FCK_Jan2011/Image/Schuster/Facebook%20of%20America.gif
War In Libya: NATO runs out of bombs, Germany going to supply munitions RT | Germany steps up role in NATO war in Libya.
‘War
is a war even if they call it a humanitarian mission’ RT | To discuss the significance of
Germany’s latest move RT talks to political blogger Rick Rozoff.
‘Mini-surge’
of U.S. Special Forces to hit AfghanistanStars and Stripes | U.S. military leaders are working to
replace some of the exiting American conventional forces from Afghanistan with
a “mini-surge” of U.S. Special Forces.
Sterner:
5 myths about NASA (Washington
Post) [ If you can’t get past the first myth; viz., that they actually set foot
on the moon, the other 5 so-called myths become irrelevant. Indeed,
post-Eisenhower, and certainly post-Kennedy-assassination / coup d’etat, NASA
was all military / military industrial complex (moreover, someone knowledgeable
about such matters said essentially that in explaining to my surprise the
transition to the shuttle program it was said there was greater military
application in same). In any event, Russia’s been doing quite a bit of ‘heavy
lifting’ vis-à-vis the space station, but not inordinately so. All I can say
with certainty is that the universe beyond this solar system is forever
protected / insulated. The fact is, they never set foot on the moon; and, in
light of the pervasive corruption in and defacto bankruptcy of the nation,
their perpetual wars toward making a hell on earth militate against anything
but trying to do even just a little bit better (for a start),
terrestrially. NASA wants
mission to bring Martian rocks to Earth (AP) Why? They already have
that and more: Launch
of secret US space ship masks even more secret launch of new weapon The
Militarization of Outer Space: The Pentagon’s “Space Warriors” Global Research | It’s not as if
things aren’t bad enough right here on planet earth. Now the Defense Department
wants to up the stakes with new, destabilizing weapons systems that will
transform low- and high-earth orbit into another
“battlespace.” buzz aldrin
wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if
he already has the footage in the can since you won’t be able to use the moon
footage for the new boondoggle video ... OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO
BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE
(IMAGINATION).
http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv
A
fight over what we can keep In
Minnesota and elsewhere, the struggle is over what is promised versus what is
affordable. (Washington Post) [Will Your Pension Be
Worthless? Mac Slavo
| We know the Federal and State governments are in serious fiscal trouble. States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Minnesota government
shuts down Politico
| Minnesota’s government shut down at midnight local time Friday after six months
of negotiations. Record
44.7 Million People Celebrate Geithner’s Departure And The End Of QE2 Through
Foodstamps Zero Hedge
| April participation in Supplemental Nutrition Assistance Program (SNAP),
better known as “foodstamps”, shows yet another record, this time 44.647
million people.
Debt
Increased More Under Geithner Than Under Any Treasury Secretary in U.S. History
CNS News | Timothy
Geithner oversaw the largest increase in the national debt of any Treasury
secretary in American history.
MORE
CONFIRMATION: The World Economy Is Rolling Over Business Insider | The latest batch
of PMI data is confirming that the world economy is still rolling over.
While
Criminal US Bankers Receive Golden Parachutes, Barbarian Afghanistan Has Just
Arrested Executives Of Failed Kabul Bank Tyler Durden | Sometimes it is good to put things in
perspective when comparing developed democracies like America and barbaric
despotic dictatorships like Afghanistan.
Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman … Yet, one must
ask what have they been doing and already getting paid for? Roche 'The worst
part of it ...Obama, who vowed change,
has done almost nothing to fix any of it and in fact continues most of the
policies that helped get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud )
Drudgereport: UPDATE:
Minnesota Government Shuts Down...
Washington
state closes tourism office...
Florida
state workers get pink slips, more cuts ahead...
FEDS STRIKE DOWN STATE'S BAN ON RACE CONSIDERATION IN COLLEGE ADMISSIONS...
SoCal
Looks to Secede from California...
REPORT: U.S. Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
Riot
police braced for violence as union protesters march in cities across the UK
and strike closes a third of all schools Riot police were put on standby in
anticipation of trouble in Central London, as anarchist group Black Bloc
threatened ‘a day of rage’ and 10,000 officers have had their leave cancelled.
Erik Wemple : Will Media Matters stay on Beck?
...probably will fall into a category like Alex Jones, who has an audience but
no influence,”says Rabin-Havt.. (Washington Post) [ If it was any newspaper
other than the Washington Post, I’d feel compelled to defend Alex Jones here.
After all, I do feel what he does to be important as alternative media /
information that much of mainstream is afraid to touch despite the verity of
same, and his and crew’s commitment of time and resources to same. Moreover,
his articles / links to same are highlighted and figure prominently on my own
website. However, I’m constrained to say that for all Jones’ emphasis on free
press and complaints against censorship, he / his hypocritically censored me
regarding what I deem to be eminently important; viz., not just describing what
is and the symptoms thereof, but the reasons including root causes therefore,
particularly from an historical, anthropological, evolutionary and
psychological perspective. With Alex Jones and crew, it’s always those
vegetable / so-called elite mental cases primarily from abroad in cahoots with
domestic vegetable / so-called elite mental cases; and, to be sure, there is
quite a bit of that, particularly from an Orwellian perspective. But, they are
mentally infirm, incompetent vegetables, after all; and inherently so. That
sad, pathetic group can’t possibly explain and be blamed entirely for the
highest crime rates in the world among so-called developed nations (and that’s
just the ones ‘caught’ / prosecuted / reported), among the bloodiest of civil
wars, the near genocide wrought upon the indigenous peoples of this land which
was literally stolen from them, the pervasive corruption that now envelopes
this war mongering though defacto bankrupt nation. Nor is the notion of ‘blue blood distinction’ a positive
and more likely a negative inasmuch as with rare exception (ie., Puritans,
infra, etc.) initial immigrants had less rational basis for coming to the wilds
of this new land and probably had few prospects in their home countries as
compared with later immigrants to whom could be attributed a rational decision.
In other words, for example, I believe the ancestral bushes would have been
criminals in their ‘nation of origin’, etc.. It is the notion of inherent
american criminality that I believe frightened Alex Jones et als the most and
their felt need to resort to censorship they so protest as to themselves. The
only paper / media /news disseminator I’ve found (I sampled many, including the
biggest) to be true to the first amendment while retaining the highest of
journalistic standards and quality is in fact The Washington Post (of
Washington no less where the temptation to greece (sic) grease the skids for
the pols in return for access must be great; instead, when the pols, etc., see
a Washington Post Reporter / Journalist / Correspondent the reaction is more of
a, ‘we better get our facts in order’; and I’m
not saying this to ‘stroke’ what I consider to be the last and truly only great
newspaper in america, viz.,’ The Washington Post’. While some may say my statistical sampling
to be less than random or large enough, I’d reply that such inferences are
indeed accurate, and that such disciplines as the simplex algorithm /
management science, linear algebra, statistics came very easily to me, and that
I’d surely know the difference. America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit
or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt,
defacto bankrupt, fallen america.
Indeed, the scenario typifies that national drain / sinkhole new york (new york
/ new jersey metro) where, for example, FBI informants were routinely exposed
by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and
were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this
was documented with authority in the book ‘Goombata: The Improbable Rise and
Fall of John Gotti and His Gang’ Cummings /
Volkman Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Watch the Market, Not CNBC at Forbes
Should
You Sell into this Rally? [ Yes! ]
Simon Maierhofer July 1, 2011 ‘Buy low, sell high. The major U.S. indexes a
la Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC) and Nasdaq (Nasdaq: ^IXIC) are
higher today than many expected a few weeks ago. Does that mean it's time to
sell?
A smart
person learns from his own mistakes, a wise person learns from the mistakes of
others. Let's see where others have gone wrong in the past and what it means
for us right now.
Don't
Be a Herd Seller
The worst
time to sell is usually when everyone else is selling (there's one caveat we'll
discuss in a moment). This was the case last summer when the term double dip
popped up everywhere.
Investors
who succumbed to selling double dipped themselves right out of the market at
the worst time.
A similar
pattern occurred just a few weeks ago. Within six weeks of the May 2 highs,
investors turned nearly as bearish as they were during the 2010 summer sell
off. But there was one major difference. From April - June 2010 the S&P
fell over 200 points and stood as low as 1,010.
http://www.etfguide.com//contributor/UserFiles/8/Image/vital%20signs%20july%20yahoo.gif
The recent
slump only erased only as much as 110 points and saw the S&P no lower than
1,255. Yet, sentiment became nearly as bearish as it was in June 2010. From a
contrarian point of view that was bullish (see chart above).
So
Bad, It's Good
In fact,
things had become 'so bad, it's good.' The chart of the Citigroup Economic
Surprise Index shown below, along with the sentiment measures shown above (both
originally featured in the June 18 ETF Profit Strategy Newsletter), suggested
that the stock market (NYSEArca: VTI - News)
was at the very least due for a relief rally.
http://www.etfguide.com//contributor/UserFiles/8/Image/Citigroup%20ESI%20-%20SP.gif
One day
before the actual low on June 15, the ETF Profit Strategy Newsletter wrote:
'The S&P is probing for a bottom. Technicals and sentiment data suggests
that a bottom has either been found or is close. A drop into the 1,259 - 1,245
range, would prompt us to close out short positions and leg into long positions.'
The very next day the S&P slid as low as 1,258 and has recovered nicely
since.
A
Tough Call
Over the
recent past, we've become conditioned to expect that every sell off will
eventually lead to new highs. This was the case in January and April 2010 and
in March 2011.
But the
market is unpredictable and there is no such thing as a sure thing. In May 2008
for example, a spirited rally propelled the S&P (NYSEArca: VOO
- News)
all the way to 1,440 (it was at 1,255 in March 2008).
But that
was the end of the rope. Within less than a year the S&P lost more than
50%. High-flying sectors like technology (NYSEArca: XLK
- News)
and financials (NYSEArca: XLF - News)
did much worse.
The May
2008 rally retraced 57% of the December 2007 - March 2008 decline. The current
bounce has retraced 63% from the May 2 - June 16 decline. Discerning eyes will
see that this is more than the Fibonacci 61.8% retracement common for counter
trend rallies.
This could
well mean that new highs are on the horizon. However, the VIX (Chicago Options:
^VIX) is currently back down to 15.38. Its May 2008 low was 15.82.
There is
also a target for a potential head and shoulders top and the 78.6% Fibonacci
retracement between 1,333 - 1,347. Any weakness in this area would be a red
flag while a push beyond the 78.6% retracement would be very bullish.
Should
You Sell Now?
The
S&P is not there (1,340) yet, but when it gets there it would be worth
taking a stab at shorting the market with a tight stop-loss. Why?
It could
be a high reward trade. Negative sentiment can at times become a
self-fulfilling prophecy. When that's the case, the market moves quickly and
doesn't give investors a chance to lock in long profits and establish cheap
short positions (remember 2008?).
Entering a
short position against such resistance is a low-risk, high reward set up as
long as it's done with surgical precision and tight-stop losses (and the
flexibility to go long if resistance is broken).
We know it
works because we've successfully shorted against important Fibonacci resistance
of 1,369 (sell recommendation in May 1, ETF Profit Strategy Update), while
covering shorts and going long at support of 1,259 (buy recommendation in June
15, ETF Profit Strategy Update).
Is this
approach fail proof? No. But here's why selling into resistance does work.
Imagine a car driving on a long road with a few traffic lights. If the car is
going to stop, accelerate, or make a U-turn anywhere on the road, it will most
likely be at a traffic light. If the S&P is going to reverse, it will
likely be at support/resistance …’
Going
Short the Dow at Minyanville /
Dangerfield [ Because of the inherently dangerous nature of short-selling
(potential loss of more than your investment, wiped out; though straddles,
option strategies can militate against said risk) I consider same more a
speculation than investment strategy. Yet, in this contrived, manipulated (for
month, quarter, half window dressing), overpriced market, I’m constrained to
say that if you were so inclined to try your hand at it, now would be a perfect
time. ] The Dow, or the way I play it the Diamonds
(NYSE:DIA) ran right into that top Bollinger Band on Thursday. Plus the
weekly DIA shows a bounce from the bottom Bollinger Band to the Middle
Bollinger Band, where many rallies stall during a downtrend. (I can’t
really show this chart, but you can check it out on Stockcharts.com) Friday is
the end of the quarter. Can we go higher? Of course. But my
money’s going on a two to three hundred point drop in the Dow. I think
the shorts have covered and it’s about time for the downtrend to reassert
itself. I’m shorting the DIA in the morning. Yes, I know I may have to
pay some yield. http://blogs.minyanville.com/idril-dangerfield/files/2011/06/DIA-6-29-11-300x162.png
The Dow jumped 153
points today and is up 480 points, or 4%, in the past 4 days. This is the
biggest four-day percentage gain since last September. The Dow ended the
quarter 0.5% higher and is now 7% higher on the year.
The S&P and Nasdaq
each gained 1% on the day and are up 4% and 4.5%, respectively, for the 4-day
run. Both ended the quarter slightly in the red.
If there was any
downside to this up-fest, it was the financials, which gained just 0.4% on the
day. But they’re the only sector in the S&P 500 still down for the year.
Everything else is up, as are the Russell 2000 and the Dow Transports, which
dipped into the red for a while there.
Bonds, meanwhile, have
gotten crushed during this stretch, pushing the yield on the 10-year note up 35
basis points, from 2.8% to 3.15%. The dollar’s down, too, with the euro surging
to $1.45.
So what does it all
mean? Dave earlier pointed to signs the market may be expecting an economic rebound. So far we have only one Chicago PMI
report to support hopes of a big bounce in growth, but OK.
There’s also Greece,
whose day of reckoning has been postponed for a little while longer.
And finally there’s
quarter-end window dressing, which still seems to make a lot of sense as a
theory, given the utter lack of volume during the stock-buying frenzy (though
the bond-selling frenzy has seen quite a lot of volume).
To me, it feels more
like a combination of all three — we’re pricing out economic collapse and an
imminent Greek default, while also prettying up the numbers at the end of the
quarter.
Fair enough. From here
the sledding gets harder. The economic data aren’t going to be pretty for a
little while, and earnings expectations are too high. And QE2, which boosted
stocks by 25%, has sailed for the last time.’
Minyanville's
T3 Daily Recap: Was This Week's Rally Anything More Than 2nd Quarter
Window-Dressing? [ No! ] at
Minyanville
Moody's
warns may downgrade U.S. muni debt ratings
Why The Dow Will Plunge To 7,000 By 24/7 Wall St. June 28, 2011 ‘One theory of economics says that any
market can return to a point where it has been in the past. The Great Recession
was, by some measures as bad as the Great Depression. Unemployment was 3.6% in
November 1966. It was at 4% in December 1999. There is no precedent for zero
unemployment, but those two periods came close.
Recent
movements in the stock market could repeat themselves as the economy lurches
toward another recession. The DJIA fell to just below 6,630 on March 2, 2009.
Back in October 2007, 17 months earlier, it briefly traded above 14,000. What
happened? The most frequent answer is the recession that lasted from December
2007 until June 2009, a period determined by the National Bureau of Economic
Research, caused the collapse. The recession lasted 18 months, which made it
the longest of any downturn since World War II.
The DJIA
could drop below 7,000 again before the middle of next year, down from 12,000
where it trades now. The market fell over 50% last 2008 and 2009. A correction
to 7,000 this time would be 42%.
The major
drivers of a sharp drop in the DJIA would be:
1.
RECOVERY IS UNEVEN
Some
regions of America are almost economically dead. The first reason the market is
likely to plunge is that the current recovery is a 35-state recovery and not a
50-state one. The US economy is not running on all its cylinders now. It runs
on about two-thirds of them during a good quarter. There has not been and will
not be much of a recovery in Nevada, Michigan, Florida, California, Rhode
Island, Ohio, Illinois, Louisiana, South Carolina, and sections of Kentucky,
Tennessee, Arizona, Idaho and Mississippi. Some areas of these states lack
important growth industries - particularly technology, farming, oil drilling,
or the large employment bases that accompany federal and state government
employee concentrations. Many areas that counted on construction to bolster
their economy can no longer do so. Unemployment will stay at or above 10% in
parts of these states and large cities like Las Vegas, Detroit, Stockton, and
Providence. Most have negative GDP growth. The US economy cannot grow at
a rate of 3% or better, which some economists are forecasting for the second
half of the year, if large regions of the country are shrinking
economically.
2.
UNDERWATER MORTGAGES
More than
a quarter of US mortgages are underwater. Economists use several ways to
measure the housing market disaster such as foreclosures, delinquencies, home
price drops, housing start and new and existing home sales. None of these
captures the heart of the market the way underwater mortgages statistics do. A
home with an upside down loan can rarely be sold without the seller taking a
huge financial hit. These homes are likely to become a financial burden to the
homeowners who cannot afford their mortgages and see no hope that their houses
will ever regain their value. Housing expert Robert Shiller says home prices
could drop another 10% this year. The ripple effect from a rise in underwater
mortgages will affect everything from bank earnings to consumer credit to
consumer spending. The real estate problem is a drag on the economy and it is
one that will get worse.
3. STOCKS
ARE EXPENSIVE
Many
market analysts believe that this is nearly a perfect time to buy stocks.
Yields on bonds are low. Gold price are unstable. The S&P 500 EPS will be
$100 this year based on many forecasts. Is a twelve multiple on that
inexpensive? Perhaps. But if so, that indicates that the Dow should be trading
about where it is now. S&P 500 earnings, however, will start to decline
soon and in some industries they will disappear entirely. The process has
already begun among consumer products companies, retailers, grocery chains, and
transportation companies like airlines. Even tech firms like Oracle have
signaled that growth has slowed. Jim Cramer mentioned a long list of “cheap”
shares on “Mad Money” in October 2007. Stock looked “inexpensive” in late 2007.
That only lasted until corporate earnings collapsed.
4.
INFLATION IS A PROBLEM
No matter
what the Federal Reserve says, inflation is in full bloom. The Bank for
International Settlements just warned policymakers and world leaders that
central banks need to raise interest rates. Otherwise, the BIS stated, the
price of commodities will continue to march higher. Chinese inflation hit a
34-month high in May despite rapid tightening by banks there. The core of this
rise was food prices, which were up 11.7% for the month. The US cannot claim,
at least for long, that it is one world and Asia, Africa, the Indian
subcontinent, and parts of South America are another. The prices of critical
commodities such as wheat, corn, oil, and cotton are well above where they were
two years ago, and with some occasional dips, are still rising. Americans
cannot afford higher and higher food and clothing prices when their median
incomes are not moving up. Inflation is a poison to consumer spending and to
the profit margins of companies that have commodities or transportation-based
businesses.
5.
COMPANIES HORDING
Companies
are still holding their cash. A McKinsey and Co. report published in May stated
that European and US companies have excess cash of more than $2 trillion. Firms
like Apple and Google have accumulated multi-billion dollar cash hordes and
have elected to hold that money even at extremely low yields. Other firms like
McDonald’s have elected to distribute cash through share buybacks and high
dividends. Most major banks have raised or reinstated dividends. Cisco has begun
to pay a dividend. Companies as diverse as CVS/Caremark Corp., Family Dollar
Stores Inc., and Schlumberger Ltd. have raised their payouts. Dividends help
people who own a lot of shares in the companies in question. They do nearly
nothing for people who hold small portfolios or who are broke and unemployed.
Cash not used to create jobs either directly through hiring or indirectly
through capital expenditure does not help the economy.
6.
EVERYONE'S SHEDDING THEIR WORKFORCE
Companies
are no longer adding jobs and governments are laying off employees. The May
unemployment numbers told a story of a stagnant job market. Recent jobless
claim levels have confirmed it. The private sector has become worried about GDP
which has only grown by 2% recently. That is not enough for many firms to
decide to add significant numbers of workers. And, unemployment rates are now
being moved higher by government layoffs, a result of the “new
austerity." The new federal government budget is likely to make
matters worse. The Brookings Institution recently said in its Government
Employment and Economic Recovery that the single biggest threat to the economic
recovery of many cities is layoffs of government workers.
7. CHINA'S
SLOWING ECONOMY
China’s
economy will slow considerably. The economic dynamics of China combine high
food costs with faltering purchasing and manufacturing. China’s factory output
is no longer growing and it is entering what it would view as a recession by
the standards of the People’s Republic-a growth rate well below its typical 10%
of better. Goldman Sachs recently chopped its forecast for China GDP. High oil
prices contribute according to the investment bank. Faltering demand for
China’s exports is another. American exports to China rose 32% in 2010 to a record
$91.9 billion, and have surged 468% over the past decade, according to the
U.S.- China Business Council. Americans usually complain about the heavy flow
of China exports to the US. But, many American industrial and service firms
need China sales to bolster their bottom lines.
8. GREECE
IS TANKING
Greece
will go under and take many other small EU nations with it. Austerity measures
by Greece will not save it from default according to most credit experts. Even
if budget and wage cuts buy the nation some time, the lack of stimulus
will ruin a job market which already has a 40% unemployment rate among its
youth. Ireland and Portugal have similar problems. A series of defaults among
the nations may damage the bank and credit system more than the collapse of Lehman.
It will certainly decimate earnings and balance sheets of many European banks.
The EU portion of the global bank system could go into a state of shock that
would cripple the global credit process. Another by-product of ruined banks is
that access to the capital needed to drive economic growth will disappear. A
sharp slowdown of EU consumer spending will cripple the US export economy,
particularly if combined with a slowdown in China.
Douglas A.
McIntyre ‘
Fed’s
‘QE2’ leaves mixed legacy The Fed’s much-debated effort to boost the
economy by buying $600 billion in bonds ends Thursday. (Washington Post) [
Mixed? How ‘bout an undisputable legacy of failure, by the fed’s own words and
stated mission and purpose. And, count on more fake data; ie., today’s near
meaningless in terms of reality ‘fake’ jobs report which they hope will keep the
foos (fools) ball rolling on fraudulent wall street; viz., ‘The standard
unemployment rate most often used by the Fed is currently at 9.1%, up 90% since
Bernanke started. The more inclusive (realistic) U6 number stands at
15.8%, up 75% in the same period. The Civilian Participation Rate has
declined 2.87% to 64.2%.This is the lowest level the U.S. has seen since March,
1984. The decline amounts to 8,946,844 fewer Americans in the labor
force. Had they not dropped out because of a lack of jobs, the “official”
unemployment rate would be significantly higher. While we can debate the
meaning of the term maximum employment, it is clear that the jobs data has
deteriorated considerably since Bernanke took the reins at the Fed. ‘.
Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This
catering to fraudulent wall street was a loser ab initio! That so-called
‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan
and failed miserably except for the frauds on wall street who commissioned up
and down; and, make no mistake, those computer-programmed high-frequency
trading volumes have now been maximized for nation-economy-draining profits for
the frauds like never before and have never been higher. The QE and
dollar-debasement policies were always predictably inflationary, ultimately
hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that
was but in reality good only for the frauds on wall street. No, there is no
modern day alchemy that spins worthless paper into gold except fraudulently for
the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing
out’ for hard currency and gold, precious metals, at everyone else’s expense
including main street. ] In
his June 7 speech, Fed Chairman Ben Bernanke stated, “the best way for the
Federal Reserve to support the fundamental value of the dollar in the medium
term is to pursue our dual mandate of maximum employment and price stability,
and we will certainly do that.”
.. Bernanke’s results ..
since Ben took the reins:
Feb ’06 – April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
.. The
standard unemployment rate most often used by the Fed is currently at 9.1%, up
90% since Bernanke started. The more inclusive (realistic) U6 number
stands at 15.8%, up 75% in the same period. The Civilian Participation
Rate has declined 2.87% to 64.2%.
This is the lowest level
the U.S. has seen since March, 1984. The decline amounts to 8,946,844
fewer Americans in the labor force. Had they not dropped out because of a
lack of jobs, the “official” unemployment rate would be significantly
higher. While we can debate the meaning of the term maximum employment,
it is clear that the jobs data has deteriorated considerably since Bernanke
took the reins at the Fed. ..
In conclusion, it is
evident that Ben Bernanke is failing his mandates. We believe it must
come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding.
Matt Marcewicz
& Robert Barone, Ph.D.
.. ‘
Inflation
Expectations Are Heating Up
Geithner
weighs exit after debt deal is finalized Treasury secretary, who’s wanted
to leave for some time, won’t go without Obama’s support. Departure would come
as economy remains troubled. (Washington Post) [ Tiny Tim leaving? God bless us
everyone! Troubled economy? That’s an understatement! Troubled in part owing in
part to Tiny Tim’s incompetence and proclivity toward fraudulent wall street
(hey tiny tim, tell us what happened to that $4 trillion at the new york fed
when you headed same). Though, to be fair, tiny tim’s had plenty of company in
the incompetence department; viz., wobama the b (for b***s***), and, inter
alia, ‘no-recession-helicopter-ben-bs-bernanke’ … Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio! That
so-called ‘wealth effect’ market froth was used previously by senile ‘maestro’
greenspan and failed miserably except for the frauds on wall street who
commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ] In his June 7 speech, Fed Chairman Ben Bernanke
stated, “the best way for the Federal Reserve to support the fundamental value
of the dollar in the medium term is to pursue our dual mandate of maximum
employment and price stability, and we will certainly do that.”…Let’s look at
the results of Bernanke’s economic “fine tuning” (using data from the St. Louis
Fed’s database, starting in February, 2006, through April 2011), and see if he
has successfully pursued this mandate…
Stable Prices?
Stable prices are one of
the Fed’s primary mandates. In the table below, take a look at what has
happened to the prices of items in a typical U.S. consumer’s budget since Ben
took the reins:
Feb ’06 – April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
… it is clear that
Bernanke has not been successful at maintaining price stability since taking
over as Fed Chairman. Mandate not accomplished.
Maximum or Full
Employment
Finding a strict
definition of maximum employment is impossible. Many economist give
different estimates, ranging from 2%-7%. The standard unemployment rate
most often used by the Fed is currently at 9.1%, up 90% since Bernanke
started. The more inclusive (realistic) U6 number stands at 15.8%, up 75%
in the same period. The Civilian Participation Rate has declined 2.87% to
64.2%.
This is the lowest level
the U.S. has seen since March, 1984. The decline amounts to 8,946,844
fewer Americans in the labor force. Had they not dropped out because of a
lack of jobs, the “official” unemployment rate would be significantly
higher. While we can debate the meaning of the term maximum employment,
it is clear that the jobs data has deteriorated considerably since Bernanke
took the reins at the Fed. Mandate not accomplished…
In conclusion, it is
evident that Ben Bernanke is failing his mandates. We believe it must
come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding …’
Parties
at odds on deficit reduction Lawmakers in both parties plot strategies that
could make the deal difficult to find common ground. (Washington Post) [ Yes …
Odds on … favorite … a lose / lose solution. The realistic scenario brings to
mind that old adage that, ‘you can’t make a silk purse out of a sow’s ear’ …
and, yeah, the reality is all that bad. A
debt ceiling leadership failure On Leadership | Congress’s failure to fix
the budget deficit is due to fundamental differences of opinion on the role of
government. U.S.
consumer confidence unexpectedly (but realistically – and not because of the
budget stalemate) falls (Washington
Post) [Davis ‘This is how we pay off
our current debts and I think bondholders are simply happy to get anything out
of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes
closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The
funniest thing about this (and you have to laugh) is to see Conservative pundits
get on TV and talk about how we need to cut $100Bn worth of discretionary
spending to "fix" this (while continuing to spend $1Tn on the
military and $1Tn on tax cuts for the top 1% each year). There is no fixing
this and even a Republican said you can’t fool all of the people all of the
time. THIS HOUSE OF CARDS IS TEETERING
FOLKS – PLEASE BE CAREFUL OUT THERE! ‘President
enters the debt talks Obama hosts sitdowns as leaders remain divided over
spending reductions and tax increases. (Washington Post) [ Oooooh! The big gun
has arrived, with the biggest gun, Mr. Teleprompter just a hot line away. Come
on! Let’s get real! What does wobama the b (for b***s***) know that any of
these other fellow nincompoops don’t; particularly about economics / finance,
even compared to ‘Lobotomy Joe’. Market Crash 6/30/11?Technical indicators suggest
market collapse may begin by June 30th Dennis Slothower is one of the world’s
leading technical analysts. He’s one of the few advisors whose readers
completely avoided ALL losses during the disaster that was 2008. And now he’s
issuing another dire warning. His technical indicators suggest that the market
manipulation we’ve seen over the last several months is about to come to an
end…and that means thousands of investors are about to get clobbered. This
correction could begin as soon as June 30th– so
it’s important that you take action now to prepare yourself. StealthStocksOnline.com [ Oooooh! Bring in the big guns;
viz., ‘wobama the b’ (for b***s***) … sounds like a plan! After all, ultimately
it’s Mr. Teleprompter who’ll have the final say; and, it seems like wobama’s
got a lock on that ‘relationship with Mr. T; you know, ‘pecking order’ kinds of
stuff … Then begs the question: Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile
‘maestro’ greenspan and failed miserably except for the frauds on wall street
who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at everyone
else’s expense including main street. ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is certainly
being felt globally as well as domestically and has little to recommend it. My
own direct experience with the region(s) (particularly new jersey, new york,
virginia, connecticut, california) carves out no exception for the prevalence
of the worst of human nature; which is now collectively and pervasively
americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
A
Mid-Year Review and Full 2012 Outlook Simon
Maierhofer, June
28, 2011,
Time flies. The 2011
calendar year is already half over, and based on the main stream 2011 outlook,
the market's performance surprised many. I forgot just how bullish Wall Street
and the media was when coming into 2011. Look at the headlines below and you'll
see what I mean.
'Get over your fear and
get back into stocks' - USA Today, 12-17-2010
'Bullish on tech and
2011' - Barrons, 12-20-2010
'Don't see a double dip
for housing' - Morningstar, 12-29-2010
'Economic rebound
forecast for 2011' - Seattle Times, 12-12-2010
'Investor's forecast:
Sunny with a chance of overheating' - WSJ, 1-3-2011
'Why U.S. stocks may
finally be a good buy' - Mootley Fool, 1-3-2011
'Real estate: Finally a
good investment' - SmartMoney, 1-19-2011
'Why the S&P is
still a bargain' - USNews, 2-4-2011
'11 signs the economy is
on the right path' - MarketWatch, 2-10-2011
Judging the media with
20/20 hindsight is always a blast, but I must admit that I was too chicken to
provide a full 2011 forecast via the ETF Profit Strategy Newsletter.
Vaguely Accurate
Here's what I told
Investor's Business Daily when they asked me for my 2011 forecast (published in
IBD's December, 22, 2010 paper):
'The Fed is creating a
bubble to contain the damage left behind by the bust of the previous bubble(s).
QE2, as desired by the Fed, has led to indiscriminate buying of stocks and
commodities.
On a historic basis,
stocks are overvalued and set to deliver long-term pain, not gain. Based on
various sentiment gauges (Institutional Investor survey of newsletter writers
and American Association for Individual Investors' survey of retail investors,
the VIX, Chicago Board Options Exchange Market Volatility Index, and CBOE
put/call ratio), investors are as optimistic about rising prices today as they
were in late 2007.
Compared to 2007,
unemployment has doubled, GDP has tumbled, Americans' desire to spend has
morphed into a new frugality and Europe has caught a contagious financial
virus. Based on sentiment, the cork may pop at any time, although I wouldn't be
surprised if the Fed's POMO (permanent open-market operations) activity can
keep prices afloat through much of 2011. The upside is risky and active traders
may follow the trend until it's broken.'
I admit that the outlook
was somewhat on the vague side but it steered investors in the right direction
- follow the trend but watch out for a correction and a possibly significant
market top. The chart below provides a glance at the S&P's performance
since January 1, 2011 along with various support/resistance points outlined by
the ETF Profit Strategy Newsletter.
http://www.etfguide.com//contributor/UserFiles/8/Image/spx%206%2027%2011.gif
One Month at a Time
With the major index
stretched to the breaking point but momentum still strong, my strategy was to
tackle the market one month at a time. Initially it made no sense to buck the
trend, but by mid-February, the market seemed to have reached a breaking point.
On February 18, I warned via the ETF Profit Strategy Newsletter that: 'A fast
and steep sell off from current prices is possible.' However, 'If stocks don't
fall below 1,255 and 1,229 we expect new recovery highs later in 2011.'
February 18 was a
Friday. The following Monday was a red-across-the-board kind of a day. The
Nasdaq (Nasdaq: ^IXIC) opened Monday 38 points lower than it closed Friday and
dropped an additional 39 points during the day.
Formerly high-flying
sectors like consumer discretionary (NYSEArca: XLY - News), industrials (NYSEArca: XLI - News), materials (NYSEArca: XLB - News), retail (NYSEArca: XRT - News) and technology (NYSEArca: XLK - News) followed suit. The S&P
(SNP: ^GSPC) dropped 23 points and the Dow (DJI: ^DJI) 177 points.
About two weeks later,
the Japan Earthquake news rocked the world and saw another wave of selling.
But, the S&P never closed below the 1,255 support and triggered a low-risk
buy signal the week of March 14 (March 20, ETF Profit Strategy Update).
The up side target was
outlined in the April 3 update of the newsletter: 'There is a fairly strong
Fibonacci projection resistance at 1,369. In terms of resistance levels, the
1,369 - 1,xxx (reserved for subscribers) range is a strong candidate for a
reversal of potentially historic proportions.'
Bearish Case, Not
Closed Yet
The S&P climbed as
high as 1,370 and has since dropped as much as 110 points. But once again,
support surrounding the 1,255 level has not been breached.
In essence, the S&P
is currently stuck in a technical vacuum. The trading range is 1,250 - 1,300.
There are plenty of folks who still believe the 'bull market' is not yet over
while the investing crowd has turned notably bearish (generally a bullish
signal). From a technical point of view, new highs are still possible.
The Presidential
Election Cycle, which sports gang buster pre-elections year performance,
supports the idea of new highs later on in 2011. Naturally, the incumbent
President will do whatever he can to court Americans for their vote.
Financial Trickery
Shenanigans designed to
'bribe' investors include maneuvers like releasing a portion of the U.S.
Strategic Petroleum Reserve. According to the New York Times, tapping into the
oil reserve for frivolous reasons is a bad idea because the oil (NYSEArca: USO - News) will eventually have to be
replaced, usually at higher prices. But right now, the priority is to make
voters happy. Low gas prices will do just that.
Other financial tricks
include changing how the Consumer Price Index (CPI) is calculated. Lawmakers
are proposing to change the CPI methodology to include changed spending
patterns caused by price increase. For example, consumers tend to drive less
when gas prices increase.
This would artificially
lower the CPI and lower federal spending by around $220 billion over the next
decade. Passing such a proposal would surely be touted as a victory in the
battle against the debt ceiling while social security recipients see their
monthly checks shrink (social security payments are linked to the CPI).
Another trick is 'QE2-light'.
Yes, even though QE2 is officially over, the Federal Reserve will continue to
reinvest maturing securities and buy Treasuries (NYSEArca: TLT - News) from banks (NYSEArca: KBE - News) at the rate of about $25
billion a month over the next year.
2011 Outlook
Quite frankly,
formulating a high confidence 2011 outlook right now is tricky (isn't it
always). But here is what we do know:
A major market top is
forming. The S&P reached the bottom end of our target range (1,369) and was
clearly rejected. We also know that crucial support at 1,255 has held. Even
though the market behaved like a significant top had been reached, it failed to
confirm it thus far.
The key question is
whether the upper end of our target range will be tested or not. At this point
it is too early to see, but that doesn't mean we are 'flying blind.'
The S&P (and any
other major index) won't rally to new highs unless they break key resistance.
Our strategy as of late has been to sell against resistance and buy against
support. This has worked like a charm. Once resistance is broken, we'll buy
against resistance and sell against support. This will keep investors on the
right side of the trade regardless of what the market has in store for us…’
Why your local Hospital could soon shut down
(StansberryNewsletter) http://www.stansberryresearch.com/pro/1011PSIEND49/LPSILC42/PR
Top 3
Reasons Markets Were Up For the Fifth Consecutive Day [ I don’t believe any of the data / reports
which experience / reality says, owing to desperation including pre-election
year, is invariably fudged, faked, fraudulent. ] July 1, 2011 ‘With five straight days of gains, the markets close
their best week in two years as we head into the 3-day weekend.
Markets closed up on
Wall Street today: Dow +1.36% , S&P +1.44% , Nasdaq +1.53% , Oil -0.76%,
Gold -1.10% .
On the commodities
front, Oil (NYSE:USO) made a reversal, down 0.76%, settling at $94.72 a
barrel. Precious metals continued to decline for their second day, with Gold
(NYSE:GLD) dropping to $1,486, while Silver (NYSE:SLV) dropped 2.78% to $33.87.
Today’s markets were up
for the fifth day in a row because:
1) Greece to receive new
bailout package. Markets have been up all week, first in anticipation that
Greece would approve austerity measures, then because they had been approved
and the country would likely receive the final 12 billion euros in their aid
package, and now because they might be receiving another 85 billion euros in a
second aid package , funded by European nations, private investors, and the
IMF. And the good news keeps coming…
2) ISM manufacturing
index. The index showed that the manufacturing industry grew significantly in
June after economists had expected it to decline. This marked the 23rd month in
a row that the index showed growth, up 1.8 points from May to 55.3 in
June.
3) Consumer
discretionary spending on the rise. The consumer discretionary sector is only
10 points below its bull market high from May 12, up 8.3% since June 16. Today
consumer discretionary stocks led the markets, though it may not be a sign of
consumer strength but “ credit-fueled shopping binges “…’
June
U.S. ETFs Trading Volume Ranking [Where the money’s going … into their
pockets and out of yours … in real economic terms, the now computerized
commissioned churn and earn is a substantial net negative and part of the
reason, along with the substantial frauds, economic decline will continue in a
very big way! ] at Bloomberg (Fri,
Jul 1) The average
daily volume for the past 20 trading days of U.S. listed exchange-traded funds
(ETFs) decreased 0.1 percent to 1280.2 million shares, from 1281.2 million
shares a month earlier. The following table ranks 1285 U.S. listed ETFs by
their 20-day average trading volume…
June
U.S. ETFs Performance Ranking by Stylesat
Bloomberg (Fri, Jul 1)
June
U.S. ETFs Trading Volume by Stylesat
Bloomberg (Fri, Jul 1)
15
Worst Housing Markets for Next 5 Years -
Business Insider Provided by The
Business Insider's Gus Lubin and Linette Lopez ‘If you bought a home in Miami in 2005,
we're sorry: over the following six years it depreciated in value by more than
54.3%.
And the rebound -- if
there is a rebound -- won't come soon…’
Summer
Rally Arrives On Schedule With A Big But at Forbes Sy Harding ‘It’s remarkable how consistently the
market moves in seasonal patterns.
For example, it tends to
make most of its gains in the winter months and experience most of its
corrections in the summer months, as expressed in the old adage ‘Sell in May
and Go Away’.
And just as it did last
year, this year the market made good gains in the winter months, then topped
out in late April, and was in a correction in May and most of June.
The shorter-term
seasonal pattern is that the market is usually positive in the days surrounding
the end of months, in what I have always called the ‘monthly strength period’,
and particularly in the days approaching and surrounding the July 4 holiday.
July also tends to be the most positive month in the market’s unfavorable
summer season. Thus the tradition of a summer rally.
After being down eight
of the previous nine weeks the market was short-term oversold going into this
week. My technical indicators triggered a short-term buy signal and I’ve been
predicting a brief short-term rally off the oversold condition, but also that
the tendency for the market to be positive in the days surrounding the July 4th
holiday, was likely to keep an oversold rally going into a sustained rally for
awhile.
It’s uncanny how events
usually work out with a timeliness that supports the seasonal patterns. The
seemingly endless stream of dismal economic reports continued this week, but a
couple of bright spots also showed up.
There was relief that
the Greek Parliament passed the painful austerity measures required for Greece
to receive additional bailout funds to prevent it from defaulting on its debt
(or at least postpone its potential default). The rally got an additional boost
from that.
And although economic
reports included that construction spending fell again in May, that Consumer
Confidence fell again in June (to a 7-month low), that weekly unemployment claims
remained high at 428,000 last week, there was also the report that
manufacturing activity, which has been declining for several months,
unexpectedly picked up some in June, with the ISM Mfg Index rising to 55.3 from
53.5 in May. That gave the market another big boost on Friday.
The ‘monthly strength
period’ is due to continue through Thursday of next week.
But it’s not just
seasonality that says the rally is probably only a short-term summer rally,
with the correction likely to resume to lower lows when the rally ends.
Technically, volume in
the rally is very light, less than 0.8 billion shares traded daily on the NYSE,
compared to as many as 1.6 billion on the down-days during the correction. That
indicates that large institutional investors selling during the correction, are
not believers in the sustainability of the rally and are not participating.
Also technically, the
unusual spike-up of the last five days has the major indexes already short-term
overbought above their 21-day moving averages, the opposite of their short-term
oversold condition two weeks ago.
On the economic
fundamentals, another bailout of Greece, and a one-month bump in the ISM Mfg
Index are hardly an indication that the economic slowdown has ended, given the
continuing dismal reports on consumer spending, consumer and business
confidence, the depressed housing industry, and the jobs picture.
So enjoy the rally. It
arrived on schedule.
But be careful about
determining too quickly that it marks an important bottom or the end of the global
economic problems.’
Precious
Metals: Long-Term Trend Positive, but Correction Not Overat Minyanville
See
It, Market: Gold and Silver Under Pressure at Minyanville
Third
Quarter Outlook: Life After QE ETF
Trends ‘…markets
have been propped up by artificial support from the Fed …’
Will Your Pension Be
Worthless? Mac Slavo
| We know the Federal and State governments are in serious fiscal trouble.
US Fed’s QE2
stimulus ends with a fizzle AFP
| Federal Reserve wound up its $600-billion “QE2″ program to boost the
ailing economy.
Record
44.7 Million People Celebrate Geithner’s Departure And The End Of QE2 Through
Foodstamps Zero Hedge
| April participation in Supplemental Nutrition Assistance Program (SNAP),
better known as “foodstamps”, shows yet another record, this time 44.647
million people.
Debt
Increased More Under Geithner Than Under Any Treasury Secretary in U.S. History
CNS News | Timothy
Geithner oversaw the largest increase in the national debt of any Treasury
secretary in American history.
MORE
CONFIRMATION: The World Economy Is Rolling Over Business Insider | The latest batch
of PMI data is confirming that the world economy is still rolling over.
While
Criminal US Bankers Receive Golden Parachutes, Barbarian Afghanistan Has Just
Arrested Executives Of Failed Kabul Bank Tyler Durden | Sometimes it is good to put things in
perspective when comparing developed democracies like America and barbaric
despotic dictatorships like Afghanistan.
Foreclosure
backlogs swell nationwide States are wrestling with backlogs, exacerbated
by homeowners who continue to fall behind on payments. Foreclosure
properties become eyesores Foreclosures
pit suburbia against Wall Street (Washington Post) [ It aint just the
foreclosures that pits people against wall street and it aint just suburbia. No, there is no modern day alchemy that spins
worthless paper into gold except fraudulently for the frauds on wall street
who’ve literally oftimes done exactly that; ‘cashing out’ for hard currency and
gold, precious metals, at everyone else’s expense including main street. The
catering to fraudulent wall street was a loser ab initio! That so-called
‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan
and now ‘no-recession-helicopter-ben-bs-bernanke’ has failed miserably except for the frauds on wall
street who commissioned up and down; and, make no mistake, those
computer-programmed high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. The frauds on wall street
et als should be criminally prosecuted, jailed, fined, and disgorgement imposed! Jobless
claims at 428,000 much worse than expected; and, don’t forget, these are
desperate ‘pre-election times’ when regardless of reality, factual and
otherwise (ie., fake reports, data, as, ie., ‘wobama hometown’ corrupt chicago
ISM is up as even their youth gangs are showing increased criminal activity
which probably accounts for the rise; ie., meth, crack labs, etc.?). Foreclosure, distressed sales up, at least on paper
with contracts signed, so no surprise nor reason to cheer here, as markets
worldwide jump on the american crazy train for a short-lived bounce as all
problems remain. This is the same month end
(and quarter, half) spurt / window dressing based on b***s*** alone to keep the
suckers suckered and an especially great time to sell / take profits since
there’s much worse to come! Talk about milking the greek crisis for the
umpteenth time a so-called solution (and there are loads of greecy scenarios
worldwide … I don’t think so and neither
does Schaeffer who says:
‘…even once such a package is passed it only buys time. Actually fixing the
fiscal condition of Greece is not something that can be solved in a matter of
weeks, or even months…‘ but it’s great press for the
churn and earn and to keep the suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into.
This is an especially great opportunity to sell / take profits while you still
can since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
Another
Financial Crisis Is On The Way, Mobius Says Market
Crash 6/30/11?Technical indicators suggest market collapse may begin by June
30th Dennis Slothower is one of the world’s leading technical analysts. He’s
one of the few advisors whose readers completely avoided ALL losses during the
disaster that was 2008. And now he’s issuing another dire warning. His
technical indicators suggest that the market manipulation we’ve seen over the
last several months is about to come to an end…and that means thousands of
investors are about to get clobbered. This correction could begin as soon
as June 30th– so it’s important that you take
action now to prepare yourself. StealthStocksOnline.com STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen Farrell ‘Are equities positioned for a nosedive? [Unequivocally, yes!
Jobless claims at 428,000 much worse than expected; and, don’t forget, these
are desperate ‘pre-election times’ when regardless of reality, factual and
otherwise (ie., fake reports, data, as, ie., wobama hometown corrupt chicago
ISM is up as even their youth gangs are showing increased criminal activity
which probably accounts for the rise, meth, crack labs, etc.?). Foreclosure, distressed sales up, at least on paper
with contracts signed, so no surprise nor reason to cheer here, as markets
worldwide jump on the american crazy train for a short-lived manipulated bounce as all problems remain. This
is the same month end (and quarter, half) spurt / window dressing based on
b***s*** alone to keep the suckers suckered and an especially great time to
sell / take profits since there’s much worse to come! ] This week the S&P 500 surged 2.6% from a week
ago, to close at 1,320. The equities index has nearly reversed its one-month
drop, after closing at 1,331.10 on May 27.
At first glance, an
auspicious close to both QE2 and the second quarter. Investors cheered news
that Greece would avoid a near-term default on its debt. Still take a close
look at the historical tight correlation between the S&P 500 and the
four-week rolling average for initial jobless claims, and the equity recovery
could be a temporary blip.
http://blogs-images.forbes.com/maureenfarrell/files/2011/06/6-30MFjobless.png
This chart plots the
S&P 500 index against an inverse of the 4-week average of initial jobless
claims. If you can excuse the tiny font, the chart illustrates a tight and
curious correlation between these metrics since December 2006...’
FBI
catches manipulators of stocks Case highlights the risks of penny stocks,
which are easily manipulated because they trade so thinly and for extremely low
prices -- sometimes fractions of a cent. (Washington Post) [ This is welcome
news no matter what. The low end’s always been a favorite (though not excluding
the higher end) of the mob who’ve been known to work closely with fraudulent
wall street, cia (then there’s also the money laundering) ( http://albertpeia.com/FBIAgentAffidavit11.jpg ) .
Yet, reality requires that the FBI, SEC, DOJ, etc., update their
computer savvy / proficiency sufficient to fully understand and appreciate the
magnitude and scope of the current wall street frauds / scams in terms of
damages, efficiency, and cover-up so detrimental the health of this and other
nations; economic, financial, and otherwise.
The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed! Jobless
claims at 428,000 much worse than expected; and, don’t forget, these are
desperate ‘pre-election times’ when regardless of factual reality (ie., fake
reports, data, as, ie., ‘wobama hometown’ corrupt chicago ISM is up as even
their youth gangs are showing increased criminal activity which probably
accounts for the rise; ie., meth, crack labs, etc.?) fudged / faked data /
reports are used / spun. Foreclosure,
distressed sales up, at least on paper with contracts signed, so no surprise
nor reason to cheer here, as markets worldwide jump on the american crazy train
for a short-lived bounce as all problems remain. This
is the same month end (and quarter, half) spurt / window dressing based on
b***s*** alone to keep the suckers suckered and an especially great time to
sell / take profits since there’s much worse to come! Talk about milking the
greek crisis for the umpteenth time a so-called solution (and there are loads
of greecy scenarios worldwide … I don’t
think so and neither does Schaeffer who says: ‘…even once such a package is passed it only buys
time. Actually fixing the fiscal condition of Greece is not something that can
be solved in a matter of weeks, or even months…‘ but
it’s great press for the churn and earn and to keep the suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into.
This is an especially great opportunity to sell / take profits while you still
can since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the source
of piolitical risk here. We could have a major problem, I think, either this
summer or the next couple years. And I’d be worried about investing too much in
the market. That’s my financial advice.”…’
Another
Financial Crisis Is On The Way, Mobius Says Market
Crash 6/30/11?Technical indicators suggest market collapse may begin by June
30th Dennis Slothower is one of the world’s leading technical analysts. He’s
one of the few advisors whose readers completely avoided ALL losses during the
disaster that was 2008. And now he’s issuing another dire warning. His technical
indicators suggest that the market manipulation we’ve seen over the last
several months is about to come to an end…and that means thousands of investors
are about to get clobbered. This correction could begin as soon as June 30th– so it’s important that you take action now to
prepare yourself. StealthStocksOnline.com
STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money--
House
votes down SEC budget hike Agency has been seeking a budget increase to
keep pace with its expanded responsibilities. (WP) [ No surprise here given the
prior and continuing defacto complicity in wall street’s enormous frauds. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman … Yet, one must
ask what have they been doing and already getting paid for? Roche 'The worst
part of it ...Obama, who vowed change, has
done almost nothing to fix any of it and in fact continues most of the policies
that helped get us here in the first place’
‘INSIDE JOB’ Ferguson wins Oscar for Documentary
on the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on
wall street ( and declares with oscar in hand that not one high level wall
street exec has been prosecuted … despite ‘earning’ billions from the fraud ) …
I want just one person
with courage enough to stand up and explain to all that these huge commissionable
computerized trading volumes like never before are a net negative in a very big
way … that’s a fact … that’s economic reality in real terms! … Though having
but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This
catering to fraudulent wall street was a loser ab initio! That so-called
‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan
and failed miserably except for the frauds on wall street who commissioned up
and down; and, make no mistake, those computer-programmed high-frequency
trading volumes have now been maximized for nation-economy-draining profits for
the frauds like never before and have never been higher. The QE and
dollar-debasement policies were always predictably inflationary, ultimately
hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that
was but in reality good only for the frauds on wall street. No, there is no
modern day alchemy that spins worthless paper into gold except fraudulently for
the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing
out’ for hard currency and gold, precious metals, at everyone else’s expense
including main street. ] Milbank:
Progressives voice anger at Obama (Washington Post) [ Progressives? Is that all,
Mr. ‘wobama aficionado’, aka Mr. Milbank. How about the vast and overwhelming
majority of this nation, and add in the rest of the world to boot. Robinson:
Why does the Afghan war go on? (Washington Post) [ Well, there’s one person
who minces no words as to why: Drudgereport: FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
National / World
Unemployment:
No Extended Benefits For People Laid Off From Now On Arthur Delaney | Will not be eligible
for any of generous extended unemployment benefits layoff victims have received
from government since 2008.
White House
to pay $37 million in salaries for 2011
13 die as
van hits roadside bomb in Afghanistan
Minnesota government shuts down Politico | Minnesota’s government shut down at midnight local time Friday after six months of negotiations.
10 Reasons Why Lindsay Lohan Is Right About The Federal
Reserve And The Price Of Food The
American Dream | Does Lindsay Lohan understand monetary policy
better than Ben Bernanke does? The other day, her Twitter account sent
out the following message: “Have you guys seen food and gas prices lately? U.S.
$ will soon be worthless if the Fed keeps printing money!” Well, it turns out that it was a “sponsored
tweet” that Lohan was paid to send out, but in a subsequent tweet Lohan
explained that “i actually do care about gas and food prices, so whether it’s
an #ad or no, it’s important for people to be aware of it.” Okay, so we probably will not see Lohan at
any “End the Fed” rallies, but it turns out that in her own bizarre way she has
brought a little bit of attention to some very important issues. Food and gas prices are skyrocketing, and a
lot of the blame for that can be placed on the shoulders of the Federal
Reserve.
So does Lindsay Lohan really understand what is going on in the
world of economics? Of course not.
But if we can get celebrities talking about the Federal Reserve
and rising prices that is a good thing. Why?
Well, because Americans listen to celebrities. When a top celebrity says something
controversial it gets a lot of attention.
The more attention that we can draw to the problems the Federal Reserve
is creating the better.
The reality is that the Federal Reserve has been at the heart of
our economic problems for decades but most Americans don’t understand the Fed
or how it works. The more Americans that
get educated about the Federal Reserve the better.
The following are ten reasons why all Americans should be
concerned about the Federal Reserve and rising food prices….
#1 What we are witnessing right now is part of a long-term
inflationary trend. Since the Federal
Reserve was created in 1913, the U.S. dollar has lost over 95 percent of its
value. An item that cost $20.00 in 1970
would cost you $116.48today. An item
that cost $20.00 in 1913 would cost you $456.49 today.
#2 Over the past couple of years, the Federal Reserve has used a
process called “quantitative easing” to pump hundreds of billions of new
dollars into the financial system. This
has helped push the cost of food, gas and just about everything else up. Even though “QE2″ has now come to an
end, the Federal Reserve has announced that they are going to continue to
“reinvest” hundreds of billions of dollars into the financial system.
#3 The Federal Reserve is not the only central bank that has
been doing this sort of thing. Sadly,
central banks all over the world have been recklessly printing money over the
past several years. This is creating
inflation all over the planet.
#4 Prices are going up but wages are not. One recent survey found that 9 out of 10 U.S.
workers do not expect their wages to keep up with soaring food prices and
soaring gas prices over the next 12 months.
#5 We have already seen a tremendous amount of food inflation in
the United States during the last 12 months.
According to a recent CNBC article, over the past year many of the most
popular foods in America have absolutely skyrocketed in price….
Coffee, for instance,
is up 40 percent. Celery is 28 percent higher while butter prices rose 26.4
percent. Rounding out the top five are bacon, at 23.5 percent, and cabbage, at
23.3 percent.
#6 In many areas of the world food inflation is far worse than
it is in America. Over the past year,
the global price of food has risen by 37 percent and this has pushed
approximately 44 million more people around the world into poverty.
#7 When the Federal Reserve and other central banks create new
money, it usually goes to big banks and major financial institutions
first. So what have the big banks and
the major financial institutions been doing with this new money? Well, they have been sinking a lot of it into
hard assets such as oil, precious metals and agricultural commodities. Over the past 12 months, almost every single
agricultural commodity has risen substantially in price. For example, the global price of wheat has
approximately doubled over the past year.
But it is not just wheat that has been skyrocketing. Check out what a recent Bloomberg article had
to say about what has been happening to many key agricultural commodities over
the past year….
Corn futures advanced 77 percent in the past
12 months in Chicago trading, a global benchmark, rice gained 39 percent and
sugar jumped 64 percent.
#8 Many areas of the world are experiencing severe drought right
now, and this is also harming food prices.
For example, the Horn of Africa is experiencing the worst drought that
it has seen in 60 years.
#9 The United States is also having crop problems as well. All of the flooding, wildfires and tornadoes
that we have seen this year have certainly not helped things. There is even a major “east coast stink bug
epidemic” which is causing chaos for large numbers of farmers. In general, U.S. agricultural production has
not been blessed this year. It just
seems like there is crisis after crisis.
#10 A lot of agricultural production that would go for food is
now going for other purposes. For
example, almost a third of all corn grown in the United States is now used for
fuel. This is putting a lot of stress on
the price of corn.
So how concerned about food prices should we be?
Well, renowned investor Jim Rogers recently put it this way….
“We’ve got to do
something or we’re going to have no food at any price at times in the next few
years.”
That doesn’t sound good.But it is not just the price of food that
is going up. The price of gas has also gotten crazy.Right now, the average
price of a gallon of gasoline in the United States is approximately $3.54 .One
year ago, it was $2.76. Thankfully, the price of gas has actually come down a
bit recently. Earlier this year it hit
$3.99.
Sadly, back in the 90s you could go to just about any gas
station and fill up for about a dollar a gallon. Over the past couple of years we have gotten
comfortable with outrageous gas prices, but the reality is that what we are
seeing now is part of a very disturbing long-term trend….
Health care costs are also spinning out of control. In a recent article abouthealth care
statistics, I noted some of the stats that show that the price of health care
in the U.S. has been absolutely soaring.
The following are a couple of those statistics….
*According to the Bureau of Economic Analysis, health care costs
accounted for just 9.5% of all personal consumption back in 1980. Today they account for approximately 16.3%.
*The United States spent 2.47 trillion dollars on health care in
2009. It is being projected that the
U.S. will spend 4.5 trillion dollars on health care in 2019.
Education has also gotten insanely expensive as well. In a
recent article I wrote entitled “Is College Worth It?“, I noted that since 1978
the cost of college tuition in the United States has gone up by over 900
percent.
Today, Average yearly tuition at U.S. private universities is up
to $27,293. That number has soared by
29% in just the past five years.
Unfortunately, it appears that things are going to get even
worse. Thanks to dramatic budget cuts by
many state governments, it is being projected that college tuition costs are
going to rise even faster this year.All of these rising prices are really squeezing
the budgets of families all across America.
Things are getting really tough out there.So if food prices keep
going up this rapidly, what are we all going to eat?Well, one scientist claims
that he has been able to create an “edible steak” out of human feces.How gross
is that?
But don’t laugh – if the price of food keeps going up this
rapidly many Americans might have to literally eat garbage someday.
The U.S. economy is in the middle of a long-term economic
decline and thousands more Americans fall out of the middle class every single
day.
Until the past couple of years, the vast majority of Americans
believed that things would always be wonderful in America.
Now that has completely changed.
According to a new poll by CBS News and The New York Times, 39
percent of Americans believe that the U.S. economy has now entered a “permanent
decline”.
As prices continue to rise, the number of American families that
will not be able to put food on the table is going to continue to go up. Already there are 44 million Americans on
food stamps. People are going to get
desperate. Society is going to continue
to crumble.
So yes, there are lots of reasons why Lindsay Lohan and everyone
else in America should be very concerned about the Federal Reserve and the price
of food.
Once our economic prosperity is gone it is going to be
incredibly difficult to get back.’
Gerald
Celente: ‘IMF – International Mafia Federation’ RT | Gerard Celente, the director of
the Trends Research Institute, shares his thoughts.
TOP 11 TRENDS
OF 2011 THE MID-JANUARY ISSUE OF THE TRENDS JOURNAL WILL FEATURE OUR “TOP
TRENDS 2011” — The Trends Research Institute’s compendium of the dominant
trends for the year ahead. The following synopses of these trends provide
insights into some of what to expect. After the tumultuous years of the Great
Recession, a battered people may wish that 2011 will bring a return to kinder,
gentler times. But that is not what we are predicting. Instead, the fruits of
government and institutional action – and inaction – on many fronts will ripen
in unplanned-for fashions. Trends we have previously identified, and that have
been brewing for some time, will reach maturity in 2011, impacting just about
everyone in the world.
U.S.:
Iran behind rising troop deaths
Officials accuse Iranian special forces unit of supporting Iraqi militia
groups suspected in attacks. Pentagon
costs rising fast, CBO warns (Washington Post) [ ‘Costs rising fast’ Well,
that’s always been the point; viz., keep those budgets bulging, for theirs and
the military industrial complex’ sake. Oh, riiiiight! Iran’s the one … Iran’s
the boogey man … forget that the invasion of Iraq and consequent war crimes
were based upon lies known to be false! No … reality and rationality says that
pervasively corrupt, defacto bankrupt america is ultimately behind and
responsible for all troop deaths in their misguided, nation-destroying,
nation-bankrupting, people-killing illegal wars. How much
will our wars cost? Report says $4 trillion U.S.
cost of war at least $3.7 trillion and counting The final bill will run at
least $3.7 trillion and could reach as high as $4.4 trillion, according to the
research project “Costs of War” by Brown University’s Watson Institute for
International Studies. Pragmatism
may define Gates’s legacy Defense secretary may not be remembered for any
grand ideas but for his stewardship of two wars. (Washington Post) [ What?
What’s this? What parallel universe is this that talks of gates’ pragmatism.
Legacy? What legacy? More contrived, needless war? More defacto bankruptcy and
depletion of treasury for this and other nations? For those who think there’s strategic thinking
behind these global blunders I say ‘wake up’ … look around you … smell the dead
roses! Not that panetta is any better
having turned this nation into but a piñata much like the failed
predispositions which have brought down his home state (pelosi’s, feinstein’s
anyone?). Unless measured in terms of increased heroin trade in Afghanistan, an
increased cia / Hegelian approach to global matters leading ineluctably to new
self-created needs for actions to dispel the ever increasing new problems
resulting from their misguided acts, his tenure must be considered as much a
failure as the failed presidents he’s served so dutifully; and, expect worse
from piñata-man panetta. Like a psychotic serial arsonist employed in a fire
department, creating the very devastating fires they’re called upon to put out,
these appointees are lose – lose scenarios for everyone. Official:
U.S. drone strikes at Somali militants The airstrike makes Somalia at least
the sixth country where the U.S. is reportedly using drone aircraft to conduct
lethal attacks. The latest target: senior members of a militant group linked to
al-Qaeda. (Washington Post) [ It isn’t often I get a chance to commend military
action these days; but, I really hate somalians … Well done! … I’ll not forget
the way they paraded those 18 dead rangers on a peace mission around … If up to
me, I’d have made 18 square miles of Mogadisho one big cemetery / parking lot
(I’m not kidding!). Deaths of four Americans reflect increasing
violence of Somali piracy (Washington Post) [ Drudgereport: U.S.
Warship Tracking Yacht Hijacked by Somali Pirates... [ I realize
there are ‘laws of the sea’ / codified bodies of law within that broad yet very
specific category called ‘maritime law’, none of which I know nor care to know
(I’ll content myself to knowing and seeing to the enforcement of american law
as pertains to me; viz., RICO http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
. I do know that these somali
pirates need killin’ and I further believe that open season on them including
using their boats in the water for target practice makes sense and certainly is
morally justified. I’m tired of hearing about those little weasels … you know,
‘the skinnies’. ] VIDEO:
EU Naval Forces Fight Piracy off Somali Coast [ Yeah! With all their
nation-bankrupting, self-defeating, wasteful, adventuring, warring for no good
reason in Afghanistan, etc., I have been at a loss to understand why they are
not blasting the skinnies out of the water, along with bombing the
skinny-places of refuge!
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
U.S.
looking into 2 detainee deaths A federal prosecutor deepens inquiry into
agency’s harsh interrogation practices during the Bush administration, U.S.
officials say. (Washington Post) [ Oh, riiiiight! That’ll happen … come on!
Fishing for headlines at best, and a futile, self-deluding attempt to make them
feel better about themselves. Everyone knows that bush et als are war criminals
and should be in jail. Moreover, wobama et als have taken over where dumbya
bush et als left off despite campaign promises to the contrary. Robinson:
Why does the Afghan war go on? (Washington Post) [ Well, there’s one person
who minces no words as to why: Drudgereport: FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'... Kick
the can (Washington Post) [ I totally agree with Mr. Robinson; namely, they
all need a kick in the can … you know, that ‘washington establishment’ that
have failed all so miserably. Well, I know that’s not what he really meant. But,
‘do no harm’? Methinks it’s too little, too late no matter what they do to
avoid that! Market Crash 6/30/11?Technical indicators suggest market collapse may
begin by June 30th Dennis Slothower is one of the world’s leading technical
analysts. He’s one of the few advisors whose readers completely avoided ALL
losses during the disaster that was 2008. And now he’s issuing another dire
warning. His technical indicators suggest that the market manipulation we’ve
seen over the last several months is about to come to an end…and that means
thousands of investors are about to get clobbered. This correction could begin
as soon as June 30th– so it’s important that
you take action now to prepare yourself. StealthStocksOnline.com
JFK {Platoon
, Wall Street , Natural Born Killers , W. , Wall Street: Money Never Sleeps } [And yes; I also believe there’s been a coup d’etat in
pervasively corrupt, defacto bankrupt, banana republic america, gunboat
diplomacy, plundering the treasury, and all! ] [I saw ‘JFK’ for the first time today and
must say, though preoccupied at the time (1992) with other things (RICO and
consequent substantial pressure from various nefarious elements, mob,
mob-connected / controlled, corrupt government-state,local,federal, etc.. ) I
was ‘hoodwinked’ by mainstream media critics who for the most’ ho-hummed’ the
film as more of the same conspiracy stuff the factual basis for which I was
already familiar with; and hence, disinclined to make any significant effort to
view same. Boy, were they and derivatively I wrong! I am totally astounded by
the insightful documentation in this film, so masterfully presented in
cinematic form. If at all, Stone seemed shy about presenting even reasonable
inferences from facts so strictly set forth. By leading with actual speech
footage from who I believe to have been america’s last great president /
leader, the substantially underrated President General Eisenhower who warned of
the dangers inherent to the military / industrial complex, Stone set the tone
for what I believe to have been the most courageous and significant warning of
the current national and global crises confronting the nation and world today
and the reasons therefore (his negative exposés of wall street, inherent
american criminality, W, etc., complement and support his theme while revealing
his wide range, wisdom, and talent). (I must say that I liked Ronald Reagan, as
I’ve previously said I like Robert Redford, as being very likeable guys - I’m
also conservative, but not to a fault – his rational approach and results with
Gorbachev were his most significant accomplishments. Parenthetically and
coincidentally, I also saw for the first time this same day, Reagan in ‘Bedtime
for Bonzo’; and, I was shocked that it was better than I could have possibly
imagined and hardly the stuff warranting the mocking he got for same on the
political trail … do you think it was just a foreboding of the nation’s current
predicament with ‘wobama the b’ (for b***s***); and yes, I do have that ‘birther
wobama family portrait’ on my website front page http://albertpeia.com . In sum, the inherently criminal behaviors
of americans as depicted are all too real and an auspicious sign indicative of
corruption across the board and through all levels of u.s. government. In light
thereof, I’m compelled to wonder as previously set forth and infra, whether my
trust in and affinity for the FBI will have been ultimately proven to have been
contraindicated in fact and reality; and hence, as I ponder, a maladaptive
personal trait / flaw. Stated another way, should having then done the deal
with the mob for the money despite personal ethics and oath militating against
same have been the correct choice in pervasively corrupt america. It certainly
up to this point would have been the most expedient, efficacious, and adaptive
choice in pervasively corrupt, inherently criminal america. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
Biological
Anthropologist: Match.com Akin to "Ancestral Mating Dance"at Minyanville
Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
CHINA:
USA 'ALREADY DEFAULTING'...
DOLLAR
TO 'LOSE RESERVE STATUS'
Economy
Expected to Have Major Slide in Months Ahead...
UPDATE:
Minnesota Government Shuts Down...
Washington
state closes tourism office...
Florida
state workers get pink slips, more cuts ahead...
FEDS STRIKE DOWN STATE'S BAN ON RACE CONSIDERATION IN COLLEGE ADMISSIONS...
SoCal
Looks to Secede from California...
REPORT:
U.S. Air Force, Navy still flying hundreds of missions over Libya...(FLASHBACK: Obama: U.S. Involvement
Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
NEW
IMF CHIEF FROM CHICAGOLAND...
MARK
HALPERIN CALLS OBAMA 'A DICK' ON LIVE TV...
POLL:
Obama 42%, any
Republican 46%...
Campaign
signals fundraising fail...
Jewish
Dems Losing Faith...
John Kerry: 'I Would Have Been a Good President, Maybe Even a Great
One'...
GETTING
NERVOUS
NEWT:
Obama 'most successful food stamp president in American history'...
Palin:
Hollywood stars as 'full of hate'... ["What would make someone be so full of
hate?" palin asks … answer: resistance to someone as dumb and full of
war-mongering hate as she is! ]
REPORT:
NATO forces ARE
trying to assassinate Qaddafi...
Los Alamos under siege from wildfire...
'Throwing absolutely everything at this that we got'...
BLAGO
LIKELY HEADED TO PRISON...
'What
happened?'
But
he gets to keep his hair...
Fitz
finally wins one!
GUILTY
IN CHICAGOLAND...
17
of 20 counts...
Tried
To Sell Obama's senate seat...
Jury
DEADLOCKED on Rahm shakedown...
Blago
to lawyer: 'What happened?'
'Stunned'...
JOBLESS
WEAK: 429,000...
...disappointed
Economic
trouble puzzles Fed chief...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
THE
NEW 'NORMAL'
GALLUP
PLUNGE...
Approval
-4, disapproval +5 -- in one day!
DOWN TO
THIRD: USA 'TO FALL BEHIND INDIA' IN TRADE...
DEM
FIX: MORE SPENDING!
Bernanke
speaks, stocks sink...
FORBES:
'Admits he's clueless'...
CBO:
Long-Term Debt Picture Worsens...
Would
reach 101% of GDP by 2021...
STUDY:
State, local gov'ts must raise taxes $1,400 a year for
30 years to fund pensions...
Millionaires
shrug off downturn; Wealthy richer than before crisis...
Zuckerman:
'We now have more idle men, women than at any time since Great Depression'...
SHOCK
POLL: ONLY 3 in 10 WILL VOTE FOR OBAMA...
66%
say US headed in 'wrong direction'...
Greece
Agrees on New Austerity Plan With EU, IMF...
ANGER
IN ATHENS...
'BLACK
HOLE'...
DEBT TALKS BREAKDOWN; TAX BUST
S&P:
Risk of U.S. credit rating downgrade increased...
Chicago
county faces $108 billion
gap in pensions....
Greek
Streets 'Explosive'...
PM wins
confidence vote 'but outlook remains dire'...
Huntsman
announces presidential bid at Statue of Liberty...
Harry
Reid endorses...
Bachmann
surges to primary lead...
Iraq
hunting $17 billion missing after U.S. invasion...
NATO
NIGHTMARE: 9 CIVILIANS KILLED [NATO strike kills 15 Libyan civilians]
Census:
Whites lose majority among babies...
German
Giant Says US Workers Lack Skills...
PAPER:
AMERICA'S LOST DECADE?
States
look to Internet taxes to close budget gaps...
SPANIARDS
ON MARCH OVER BLEAK PROSPECTS...
House will move this week to limit funding for effort in Libya...
'DON'T
BE SURPRISED IF ATHENS GOES UP IN FLAMES'...
GREEK
PM PLEADS FOR UNITY!
...warns
against default
Threat
to downgrade Italian debt raises contagion fears...
Princess
Diana Conspiracy Movie Headed to Theaters... [ Uh, oh! Time to gear
up the already harsh ‘censors’ in england.
]
Bachmann:
Obama 'has failed' blacks, Hispanics... [ Come on! ‘Wobama the b’
(for b***s*** has failed everyone. ]
Presidential
no-show miffs Hispanics...
African-American
unemployment at 16%... [ But there’s rationality in this stat as
people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then there’s
the attitude. I truly believe from direct experience that even when their
outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed. ]
SHE'S
OFF! (on the road again) Michelle Obama embarks on Africa visit … (stay there!)
...
Michelle Obama Admits: 'Fortunately, We Have Help From The Media'...
CHICAGOLAND:
Rahm's Top Cop Blames Gangs, Crime on 'Gov't-Sponsored Racism'...
Likens
federal gun laws to 'racism'...
Teen
Mob Of 50 Hits Chicago WALGREENS...
Teen
brutally beaten by mob of blacks; cops
mull 'lynching' charge...
Princess
Diana Conspiracy Movie Headed to Theaters... [ British
queen arrives in Ireland Queen Elizabeth II’s visit overshadowed by
security scares. (Washington Post) [ ‘How sweet she is’ … that ‘sweet liz’ …
that is … Diana
film causes stir at Cannes “Unlawful
Killing” has a combination of celebrity, controversy and canny hype-mongering.
(Washington Post) [ Let’s not kid
ourselves … and, Dodi Fayed’s father was no dope and knew the score. Indeed,
it’s not coincidental that William’s the over-riding favorite of granny Liz II;
after all, Harry’s the bastard son of Hewitt (don’t buy into their DNA proffer
which they did buy – you know, that ‘bloodline thing’). Moreover, it was
reported that Diana had another ‘potential challenger in the oven’ at the time
of her death and we all know how dicey such english affairs of state can be
(ie., Henry VIII, Richard III, etc.). Then there’s the contempt of Diana for
having brought the son of her bosom, Chas, down. Do I think she said flat out
‘kill Diana’. No … more of a ‘do what’s necessary’ to mi6 et als. Ultimately,
William will require some substantial therapy to sort out this looming
conflict. After all, Diana was his mother.
Drudgereport: British
woman decapitated in grocery store; killer flees with head... Cannes:
Diana doc slams UK royals as 'gangsters'... ]
Dick Bové:
Lost Finance Jobs Are Gonna Stay That Way…FOREVER
S&P
Reaches Possible Reversal Point at
Minyanville
Watch the Market, Not CNBC at Forbes
The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Jobless
claims at 428,000 much worse than expected; and, don’t forget, these are desperate
‘pre-election times’ when regardless of reality, factual and otherwise (ie.,
fake reports, data, as, ie., ‘wobama hometown’ corrupt chicago ISM is up as
even their youth gangs are showing increased criminal activity which probably
accounts for the rise; ie., meth, crack labs, etc.?). Foreclosure, distressed sales up, at least on paper
with contracts signed, so no surprise nor reason to cheer here, as markets
worldwide jump on the american crazy train for a short-lived bounce as all
problems remain. This is the same month end
(and quarter, half) spurt / window dressing based on b***s*** alone to keep the
suckers suckered and an especially great time to sell / take profits since
there’s much worse to come! Talk about milking the greek crisis for the umpteenth
time a so-called solution (and there are loads of greecy scenarios worldwide
… I don’t think so and neither does
Schaeffer who says: ‘…even
once such a package is passed it only buys time. Actually fixing the fiscal
condition of Greece is not something that can be solved in a matter of weeks,
or even months…‘ but it’s great press for the churn and earn and to
keep the suckers suckered. Technology rally? Defacto bankrupt
american technology is horrendous but great sizzle for the new fraud as in the
dotcom bust days. Then there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into. This
is an especially great opportunity to sell / take profits while you still can
since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says Market
Crash 6/30/11?Technical indicators suggest market collapse may begin by June
30th Dennis Slothower is one of the world’s leading technical analysts. He’s
one of the few advisors whose readers completely avoided ALL losses during the
disaster that was 2008. And now he’s issuing another dire warning. His
technical indicators suggest that the market manipulation we’ve seen over the
last several months is about to come to an end…and that means thousands of
investors are about to get clobbered. This correction could begin as soon
as June 30th– so it’s important that you take
action now to prepare yourself. StealthStocksOnline.com STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money--
Going
Short the Dow at Minyanville /
Dangerfield [ Because of the inherently dangerous nature of short-selling
(potential loss of more than your investment, though straddles, option
strategies can militate against said risk) I consider same more a speculation
than investment strategy. Yet, in this contrived, manipulated (for month,
quarter, half window dressing), overpriced market, I’m constrained to say that
if you were so inclined to try your hand at it, now would be a perfect time. ] The
Dow, or the way I play it the Diamonds (NYSE:DIA) ran right into that top
Bollinger Band on Thursday. Plus the weekly DIA shows a bounce from the
bottom Bollinger Band to the Middle Bollinger Band, where many rallies stall
during a downtrend. (I can’t really show this chart, but you can check it
out on Stockcharts.com) Friday is the end of the quarter. Can we go
higher? Of course. But my money’s going on a two to three hundred point
drop in the Dow. I think the shorts have covered and it’s about time for
the downtrend to reassert itself. I’m shorting the DIA in the morning.
Yes, I know I may have to pay some yield. http://blogs.minyanville.com/idril-dangerfield/files/2011/06/DIA-6-29-11-300x162.png
3
Stocks Driving Markets Up June 30th Wall
St. Cheat Sheet
AAII
Survey: Bullish Sentiment At Highest Level Since April at Forbes
Top
3 Reasons Markets Were Up At the End of QE2 Wall St. Cheat Sheet
The Dow jumped 153
points today and is up 480 points, or 4%, in the past 4 days. This is the
biggest four-day percentage gain since last September. The Dow ended the quarter
0.5% higher and is now 7% higher on the year.
The S&P and Nasdaq
each gained 1% on the day and are up 4% and 4.5%, respectively, for the 4-day
run. Both ended the quarter slightly in the red.
If there was any
downside to this up-fest, it was the financials, which gained just 0.4% on the
day. But they’re the only sector in the S&P 500 still down for the year.
Everything else is up, as are the Russell 2000 and the Dow Transports, which
dipped into the red for a while there.
Bonds, meanwhile, have
gotten crushed during this stretch, pushing the yield on the 10-year note up 35
basis points, from 2.8% to 3.15%. The dollar’s down, too, with the euro surging
to $1.45.
So what does it all
mean? Dave earlier pointed to signs the market may be expecting an economic rebound. So far we have only one Chicago PMI
report to support hopes of a big bounce in growth, but OK.
There’s also Greece,
whose day of reckoning has been postponed for a little while longer.
And finally there’s
quarter-end window dressing, which still seems to make a lot of sense as a
theory, given the utter lack of volume during the stock-buying frenzy (though
the bond-selling frenzy has seen quite a lot of volume).
To me, it feels more
like a combination of all three — we’re pricing out economic collapse and an
imminent Greek default, while also prettying up the numbers at the end of the
quarter.
Fair enough. From here
the sledding gets harder. The economic data aren’t going to be pretty for a
little while, and earnings expectations are too high. And QE2, which boosted
stocks by 25%, has sailed for the last time.’
Minyanville's
T3 Daily Recap: Was This Week's Rally Anything More Than 2nd Quarter
Window-Dressing? [ No! ] at
Minyanville
US STOCKS SNAPSHOT-Wall St
briefly pares gains after jobs data NEW YORK, June 30(Reuters) - U.S. stock index futures briefly pared
gains on Thursday after a report showed new jobless claims fell less than
expected but optimism over Greece's austerity plan was set to extend a
three-day rally for stocks.
Moody's
warns may downgrade U.S. muni debt ratings
Why The Dow Will Plunge To 7,000 By 24/7 Wall St. June 28, 2011 ‘One theory of economics says that any
market can return to a point where it has been in the past. The Great Recession
was, by some measures as bad as the Great Depression. Unemployment was 3.6% in
November 1966. It was at 4% in December 1999. There is no precedent for zero
unemployment, but those two periods came close.
Recent
movements in the stock market could repeat themselves as the economy lurches
toward another recession. The DJIA fell to just below 6,630 on March 2, 2009.
Back in October 2007, 17 months earlier, it briefly traded above 14,000. What
happened? The most frequent answer is the recession that lasted from December
2007 until June 2009, a period determined by the National Bureau of Economic
Research, caused the collapse. The recession lasted 18 months, which made it
the longest of any downturn since World War II.
The DJIA
could drop below 7,000 again before the middle of next year, down from 12,000
where it trades now. The market fell over 50% last 2008 and 2009. A correction
to 7,000 this time would be 42%.
The major
drivers of a sharp drop in the DJIA would be:
1.
RECOVERY IS UNEVEN
Some
regions of America are almost economically dead. The first reason the market is
likely to plunge is that the current recovery is a 35-state recovery and not a
50-state one. The US economy is not running on all its cylinders now. It runs
on about two-thirds of them during a good quarter. There has not been and will
not be much of a recovery in Nevada, Michigan, Florida, California, Rhode
Island, Ohio, Illinois, Louisiana, South Carolina, and sections of Kentucky,
Tennessee, Arizona, Idaho and Mississippi. Some areas of these states lack
important growth industries - particularly technology, farming, oil drilling,
or the large employment bases that accompany federal and state government
employee concentrations. Many areas that counted on construction to bolster
their economy can no longer do so. Unemployment will stay at or above 10% in
parts of these states and large cities like Las Vegas, Detroit, Stockton, and
Providence. Most have negative GDP growth. The US economy cannot grow at
a rate of 3% or better, which some economists are forecasting for the second
half of the year, if large regions of the country are shrinking
economically.
2.
UNDERWATER MORTGAGES
More than
a quarter of US mortgages are underwater. Economists use several ways to
measure the housing market disaster such as foreclosures, delinquencies, home
price drops, housing start and new and existing home sales. None of these
captures the heart of the market the way underwater mortgages statistics do. A
home with an upside down loan can rarely be sold without the seller taking a
huge financial hit. These homes are likely to become a financial burden to the
homeowners who cannot afford their mortgages and see no hope that their houses
will ever regain their value. Housing expert Robert Shiller says home prices
could drop another 10% this year. The ripple effect from a rise in underwater mortgages
will affect everything from bank earnings to consumer credit to consumer
spending. The real estate problem is a drag on the economy and it is one that
will get worse.
3. STOCKS
ARE EXPENSIVE
Many
market analysts believe that this is nearly a perfect time to buy stocks.
Yields on bonds are low. Gold price are unstable. The S&P 500 EPS will be
$100 this year based on many forecasts. Is a twelve multiple on that
inexpensive? Perhaps. But if so, that indicates that the Dow should be trading
about where it is now. S&P 500 earnings, however, will start to decline
soon and in some industries they will disappear entirely. The process has
already begun among consumer products companies, retailers, grocery chains, and
transportation companies like airlines. Even tech firms like Oracle have
signaled that growth has slowed. Jim Cramer mentioned a long list of “cheap”
shares on “Mad Money” in October 2007. Stock looked “inexpensive” in late 2007.
That only lasted until corporate earnings collapsed.
4.
INFLATION IS A PROBLEM
No matter
what the Federal Reserve says, inflation is in full bloom. The Bank for
International Settlements just warned policymakers and world leaders that
central banks need to raise interest rates. Otherwise, the BIS stated, the
price of commodities will continue to march higher. Chinese inflation hit a
34-month high in May despite rapid tightening by banks there. The core of this
rise was food prices, which were up 11.7% for the month. The US cannot claim,
at least for long, that it is one world and Asia, Africa, the Indian
subcontinent, and parts of South America are another. The prices of critical
commodities such as wheat, corn, oil, and cotton are well above where they were
two years ago, and with some occasional dips, are still rising. Americans
cannot afford higher and higher food and clothing prices when their median
incomes are not moving up. Inflation is a poison to consumer spending and to
the profit margins of companies that have commodities or transportation-based
businesses.
5.
COMPANIES HORDING
Companies
are still holding their cash. A McKinsey and Co. report published in May stated
that European and US companies have excess cash of more than $2 trillion. Firms
like Apple and Google have accumulated multi-billion dollar cash hordes and
have elected to hold that money even at extremely low yields. Other firms like
McDonald’s have elected to distribute cash through share buybacks and high
dividends. Most major banks have raised or reinstated dividends. Cisco has
begun to pay a dividend. Companies as diverse as CVS/Caremark Corp., Family
Dollar Stores Inc., and Schlumberger Ltd. have raised their payouts. Dividends
help people who own a lot of shares in the companies in question. They do
nearly nothing for people who hold small portfolios or who are broke and
unemployed. Cash not used to create jobs either directly through hiring or
indirectly through capital expenditure does not help the economy.
6.
EVERYONE'S SHEDDING THEIR WORKFORCE
Companies
are no longer adding jobs and governments are laying off employees. The May
unemployment numbers told a story of a stagnant job market. Recent jobless
claim levels have confirmed it. The private sector has become worried about GDP
which has only grown by 2% recently. That is not enough for many firms to
decide to add significant numbers of workers. And, unemployment rates are now
being moved higher by government layoffs, a result of the “new
austerity." The new federal government budget is likely to make
matters worse. The Brookings Institution recently said in its Government
Employment and Economic Recovery that the single biggest threat to the economic
recovery of many cities is layoffs of government workers.
7. CHINA'S
SLOWING ECONOMY
China’s
economy will slow considerably. The economic dynamics of China combine high
food costs with faltering purchasing and manufacturing. China’s factory output
is no longer growing and it is entering what it would view as a recession by
the standards of the People’s Republic-a growth rate well below its typical 10%
of better. Goldman Sachs recently chopped its forecast for China GDP. High oil
prices contribute according to the investment bank. Faltering demand for
China’s exports is another. American exports to China rose 32% in 2010 to a
record $91.9 billion, and have surged 468% over the past decade, according to
the U.S.- China Business Council. Americans usually complain about the heavy
flow of China exports to the US. But, many American industrial and service
firms need China sales to bolster their bottom lines.
8. GREECE
IS TANKING
Greece
will go under and take many other small EU nations with it. Austerity measures
by Greece will not save it from default according to most credit experts. Even
if budget and wage cuts buy the nation some time, the lack of stimulus
will ruin a job market which already has a 40% unemployment rate among its
youth. Ireland and Portugal have similar problems. A series of defaults among
the nations may damage the bank and credit system more than the collapse of
Lehman. It will certainly decimate earnings and balance sheets of many European
banks. The EU portion of the global bank system could go into a state of shock
that would cripple the global credit process. Another by-product of ruined
banks is that access to the capital needed to drive economic growth will
disappear. A sharp slowdown of EU consumer spending will cripple the US export
economy, particularly if combined with a slowdown in China.
Douglas A.
McIntyre ‘
Fed’s
‘QE2’ leaves mixed legacy The Fed’s much-debated effort to boost the
economy by buying $600 billion in bonds ends Thursday. (Washington Post) [
Mixed? How ‘bout an undisputable legacy of failure, by the fed’s own words and
stated mission and purpose. And, count on more fake data; ie., today’s near
meaningless in terms of reality ‘fake’ jobs report which they hope will keep
the foos (fools) ball rolling on fraudulent wall street; viz., ‘The standard
unemployment rate most often used by the Fed is currently at 9.1%, up 90% since
Bernanke started. The more inclusive (realistic) U6 number stands at
15.8%, up 75% in the same period. The Civilian Participation Rate has
declined 2.87% to 64.2%.This is the lowest level the U.S. has seen since March,
1984. The decline amounts to 8,946,844 fewer Americans in the labor
force. Had they not dropped out because of a lack of jobs, the “official”
unemployment rate would be significantly higher. While we can debate the
meaning of the term maximum employment, it is clear that the jobs data has
deteriorated considerably since Bernanke took the reins at the Fed. ‘.
Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This
catering to fraudulent wall street was a loser ab initio! That so-called
‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan
and failed miserably except for the frauds on wall street who commissioned up
and down; and, make no mistake, those computer-programmed high-frequency
trading volumes have now been maximized for nation-economy-draining profits for
the frauds like never before and have never been higher. The QE and
dollar-debasement policies were always predictably inflationary, ultimately
hyperinflationary, particularly for stocks; that ‘feel good’ obfuscation that
was but in reality good only for the frauds on wall street. No, there is no
modern day alchemy that spins worthless paper into gold except fraudulently for
the frauds on wall street who’ve literally oftimes done exactly that; ‘cashing
out’ for hard currency and gold, precious metals, at everyone else’s expense
including main street. ] In
his June 7 speech, Fed Chairman Ben Bernanke stated, “the best way for the
Federal Reserve to support the fundamental value of the dollar in the medium
term is to pursue our dual mandate of maximum employment and price stability,
and we will certainly do that.”
.. Bernanke’s results ..
since Ben took the reins:
Feb ’06 – April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
.. The
standard unemployment rate most often used by the Fed is currently at 9.1%, up
90% since Bernanke started. The more inclusive (realistic) U6 number
stands at 15.8%, up 75% in the same period. The Civilian Participation
Rate has declined 2.87% to 64.2%.
This is the lowest level
the U.S. has seen since March, 1984. The decline amounts to 8,946,844
fewer Americans in the labor force. Had they not dropped out because of a
lack of jobs, the “official” unemployment rate would be significantly
higher. While we can debate the meaning of the term maximum employment,
it is clear that the jobs data has deteriorated considerably since Bernanke
took the reins at the Fed. ..
In conclusion, it is
evident that Ben Bernanke is failing his mandates. We believe it must
come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding.
Matt Marcewicz
& Robert Barone, Ph.D.
.. ‘
Inflation
Expectations Are Heating Up
Parties
at odds on deficit reduction Lawmakers in both parties plot strategies that
could make the deal difficult to find common ground. (Washington Post) [ Yes …
Odds on … favorite … a lose / lose solution. The realistic scenario brings to
mind that old adage that, ‘you can’t make a silk purse out of a sow’s ear’ …
and, yeah, the reality is all that bad. A
debt ceiling leadership failure On Leadership | Congress’s failure to fix
the budget deficit is due to fundamental differences of opinion on the role of
government. U.S.
consumer confidence unexpectedly (but realistically – and not because of the
budget stalemate) falls (Washington
Post) [Davis ‘This is how we pay off
our current debts and I think bondholders are simply happy to get anything out
of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes
closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The
funniest thing about this (and you have to laugh) is to see Conservative
pundits get on TV and talk about how we need to cut $100Bn worth of
discretionary spending to "fix" this (while continuing to spend $1Tn
on the military and $1Tn on tax cuts for the top 1% each year). There is no
fixing this and even a Republican said you can’t fool all of the people all of
the time. THIS HOUSE OF CARDS IS TEETERING
FOLKS – PLEASE BE CAREFUL OUT THERE! ‘President
enters the debt talks Obama hosts sitdowns as leaders remain divided over
spending reductions and tax increases. (Washington Post) [ Oooooh! The big gun
has arrived, with the biggest gun, Mr. Teleprompter just a hot line away. Come
on! Let’s get real! What does wobama the b (for b***s***) know that any of
these other fellow nincompoops don’t; particularly about economics / finance,
even compared to ‘Lobotomy Joe’. Market Crash 6/30/11?Technical indicators suggest
market collapse may begin by June 30th Dennis Slothower is one of the world’s
leading technical analysts. He’s one of the few advisors whose readers
completely avoided ALL losses during the disaster that was 2008. And now he’s
issuing another dire warning. His technical indicators suggest that the market
manipulation we’ve seen over the last several months is about to come to an
end…and that means thousands of investors are about to get clobbered. This
correction could begin as soon as June 30th– so
it’s important that you take action now to prepare yourself.
StealthStocksOnline.com [
Oooooh! Bring in the big guns; viz., ‘wobama the b’ (for b***s***) … sounds
like a plan! After all, ultimately it’s Mr. Teleprompter who’ll have the final
say; and, it seems like wobama’s got a lock on that ‘relationship with Mr. T;
you know, ‘pecking order’ kinds of stuff … Then begs the question: Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile
‘maestro’ greenspan and failed miserably except for the frauds on wall street
who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ‘ America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
A
Mid-Year Review and Full 2012 Outlook Simon
Maierhofer, June
28, 2011,
Time flies. The 2011
calendar year is already half over, and based on the main stream 2011 outlook,
the market's performance surprised many. I forgot just how bullish Wall Street
and the media was when coming into 2011. Look at the headlines below and you'll
see what I mean.
'Get over your fear and
get back into stocks' - USA Today, 12-17-2010
'Bullish on tech and
2011' - Barrons, 12-20-2010
'Don't see a double dip
for housing' - Morningstar, 12-29-2010
'Economic rebound
forecast for 2011' - Seattle Times, 12-12-2010
'Investor's forecast:
Sunny with a chance of overheating' - WSJ, 1-3-2011
'Why U.S. stocks may
finally be a good buy' - Mootley Fool, 1-3-2011
'Real estate: Finally a
good investment' - SmartMoney, 1-19-2011
'Why the S&P is
still a bargain' - USNews, 2-4-2011
'11 signs the economy is
on the right path' - MarketWatch, 2-10-2011
Judging the media with
20/20 hindsight is always a blast, but I must admit that I was too chicken to
provide a full 2011 forecast via the ETF Profit Strategy Newsletter.
Vaguely Accurate
Here's what I told
Investor's Business Daily when they asked me for my 2011 forecast (published in
IBD's December, 22, 2010 paper):
'The Fed is creating a
bubble to contain the damage left behind by the bust of the previous bubble(s).
QE2, as desired by the Fed, has led to indiscriminate buying of stocks and
commodities.
On a historic basis,
stocks are overvalued and set to deliver long-term pain, not gain. Based on
various sentiment gauges (Institutional Investor survey of newsletter writers
and American Association for Individual Investors' survey of retail investors,
the VIX, Chicago Board Options Exchange Market Volatility Index, and CBOE
put/call ratio), investors are as optimistic about rising prices today as they
were in late 2007.
Compared to 2007,
unemployment has doubled, GDP has tumbled, Americans' desire to spend has
morphed into a new frugality and Europe has caught a contagious financial
virus. Based on sentiment, the cork may pop at any time, although I wouldn't be
surprised if the Fed's POMO (permanent open-market operations) activity can
keep prices afloat through much of 2011. The upside is risky and active traders
may follow the trend until it's broken.'
I admit that the outlook
was somewhat on the vague side but it steered investors in the right direction
- follow the trend but watch out for a correction and a possibly significant
market top. The chart below provides a glance at the S&P's performance
since January 1, 2011 along with various support/resistance points outlined by
the ETF Profit Strategy Newsletter.
http://www.etfguide.com//contributor/UserFiles/8/Image/spx%206%2027%2011.gif
One Month at a Time
With the major index
stretched to the breaking point but momentum still strong, my strategy was to
tackle the market one month at a time. Initially it made no sense to buck the
trend, but by mid-February, the market seemed to have reached a breaking point.
On February 18, I warned via the ETF Profit Strategy Newsletter that: 'A fast
and steep sell off from current prices is possible.' However, 'If stocks don't
fall below 1,255 and 1,229 we expect new recovery highs later in 2011.'
February 18 was a
Friday. The following Monday was a red-across-the-board kind of a day. The
Nasdaq (Nasdaq: ^IXIC) opened Monday 38 points lower than it closed Friday and
dropped an additional 39 points during the day.
Formerly high-flying
sectors like consumer discretionary (NYSEArca: XLY - News), industrials (NYSEArca: XLI - News), materials (NYSEArca: XLB - News), retail (NYSEArca: XRT - News) and technology (NYSEArca: XLK - News) followed suit. The S&P
(SNP: ^GSPC) dropped 23 points and the Dow (DJI: ^DJI) 177 points.
About two weeks later,
the Japan Earthquake news rocked the world and saw another wave of selling.
But, the S&P never closed below the 1,255 support and triggered a low-risk
buy signal the week of March 14 (March 20, ETF Profit Strategy Update).
The up side target was
outlined in the April 3 update of the newsletter: 'There is a fairly strong
Fibonacci projection resistance at 1,369. In terms of resistance levels, the
1,369 - 1,xxx (reserved for subscribers) range is a strong candidate for a
reversal of potentially historic proportions.'
Bearish Case, Not
Closed Yet
The S&P climbed as
high as 1,370 and has since dropped as much as 110 points. But once again,
support surrounding the 1,255 level has not been breached.
In essence, the S&P
is currently stuck in a technical vacuum. The trading range is 1,250 - 1,300.
There are plenty of folks who still believe the 'bull market' is not yet over
while the investing crowd has turned notably bearish (generally a bullish signal).
From a technical point of view, new highs are still possible.
The Presidential
Election Cycle, which sports gang buster pre-elections year performance,
supports the idea of new highs later on in 2011. Naturally, the incumbent
President will do whatever he can to court Americans for their vote.
Financial Trickery
Shenanigans designed to
'bribe' investors include maneuvers like releasing a portion of the U.S.
Strategic Petroleum Reserve. According to the New York Times, tapping into the
oil reserve for frivolous reasons is a bad idea because the oil (NYSEArca: USO - News) will eventually have to be
replaced, usually at higher prices. But right now, the priority is to make
voters happy. Low gas prices will do just that.
Other financial tricks
include changing how the Consumer Price Index (CPI) is calculated. Lawmakers
are proposing to change the CPI methodology to include changed spending
patterns caused by price increase. For example, consumers tend to drive less
when gas prices increase.
This would artificially
lower the CPI and lower federal spending by around $220 billion over the next
decade. Passing such a proposal would surely be touted as a victory in the
battle against the debt ceiling while social security recipients see their
monthly checks shrink (social security payments are linked to the CPI).
Another trick is
'QE2-light'. Yes, even though QE2 is officially over, the Federal Reserve will
continue to reinvest maturing securities and buy Treasuries (NYSEArca: TLT - News) from banks (NYSEArca: KBE - News) at the rate of about $25
billion a month over the next year.
2011 Outlook
Quite frankly,
formulating a high confidence 2011 outlook right now is tricky (isn't it
always). But here is what we do know:
A major market top is
forming. The S&P reached the bottom end of our target range (1,369) and was
clearly rejected. We also know that crucial support at 1,255 has held. Even
though the market behaved like a significant top had been reached, it failed to
confirm it thus far.
The key question is
whether the upper end of our target range will be tested or not. At this point
it is too early to see, but that doesn't mean we are 'flying blind.'
The S&P (and any
other major index) won't rally to new highs unless they break key resistance.
Our strategy as of late has been to sell against resistance and buy against
support. This has worked like a charm. Once resistance is broken, we'll buy
against resistance and sell against support. This will keep investors on the
right side of the trade regardless of what the market has in store for us…’
Why your local Hospital could soon shut down
(StansberryNewsletter) http://www.stansberryresearch.com/pro/1011PSIEND49/LPSILC42/PR
Geithner Looks
to Exit Treasury Dept. Bloomberg
| Timothy F. Geithner has signaled to White House officials that he’s
considering leaving the administration.
A
Huge Number Of Americans Believe The Economy Has Now Entered “Permanent
Decline” Business Insider
| 39% of Americans believe the US economy has entered “permanent decline”
according to a new poll. 39% of Americans believe the US economy has now
entered “permanent decline” according to a new poll from CBS and NYT.
The
IMF joins Bernanke in threatening US legislators M. Ruppert | We do not need to raise
taxes or put austerity measures in place in order to save the United States.
It’s
Official: China Is The “Mystery” Daily Buyer Of Billions Of Euros Over the
past two weeks, we have been suggesting, tongue in cheekily, that despite the
relentless desires of everyone to sell the EUR, it has continued to drift
higher, due to some inexplicable force with bottomless pockets, which, after
some deductive logic, we assumed was China. It turns out we were correct.
New
Investment Strategy: Preparing for End Times Investment professionals have
a new pitch: The sky could soon be falling.
National / World
Unemployment:
No Extended Benefits For People Laid Off From Now On Arthur Delaney | Will not be eligible
for any of generous extended unemployment benefits layoff victims have received
from government since 2008.
Riot
police braced for violence as union protesters march in cities across the UK
and strike closes a third of all schools Riot police were put on standby in
anticipation of trouble in Central London, as anarchist group Black Bloc
threatened ‘a day of rage’ and 10,000 officers have had their leave cancelled.
Official:
U.S. drone strikes at Somali militants The airstrike makes Somalia at least
the sixth country where the U.S. is reportedly using drone aircraft to conduct
lethal attacks. The latest target: senior members of a militant group linked to
al-Qaeda. (Washington Post) [ It isn’t often I get a chance to commend military
action these days; but, I really hate somalians … Well done! … I’ll not forget
the way they paraded those 18 dead rangers on a peace mission around … If up to
me, I’d have made 18 square miles of Mogadisho one big cemetery / parking lot
(I’m not kidding!). Deaths of four Americans reflect increasing
violence of Somali piracy (Washington Post) [ Drudgereport: U.S.
Warship Tracking Yacht Hijacked by Somali Pirates... [ I realize
there are ‘laws of the sea’ / codified bodies of law within that broad yet very
specific category called ‘maritime law’, none of which I know nor care to know
(I’ll content myself to knowing and seeing to the enforcement of american law
as pertains to me; viz., RICO http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
. I do know that these somali
pirates need killin’ and I further believe that open season on them including
using their boats in the water for target practice makes sense and certainly is
morally justified. I’m tired of hearing about those little weasels … you know,
‘the skinnies’. ] VIDEO:
EU Naval Forces Fight Piracy off Somali Coast [ Yeah! With all their
nation-bankrupting, self-defeating, wasteful, adventuring, warring for no good
reason in Afghanistan, etc., I have been at a loss to understand why they are
not blasting the skinnies out of the water, along with bombing the
skinny-places of refuge! Milbank:
Progressives voice anger at Obama (Washington Post) [ Progressives? Is that all,
Mr. ‘wobama aficionado’, aka Mr. Milbank. How about the vast and overwhelming
majority of this nation, and add in the rest of the world to boot. Robinson:
Why does the Afghan war go on? (Washington Post) [ Well, there’s one person
who minces no words as to why: Drudgereport: FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'... Minister
Farrakhan: “That’s A Murderer In The White House!” Minister Farrakhan
exposed the U.S. and NATO’s criminal War Libya and Africa during a June 15,
2011 Press Conference at the UN Plaza Hotel. Then there are, beyond the
regional proximity to oil and an american induced resurgent poppy / heroin
production / trade (the Taliban had all but eradicated same). After all,
pervasively corrupt, defacto bankrupt america is into the illegal drug trade in
a very big way. Obama’s Drawdown Speech: More Orwellian Lies Kurt Nimmo | The U.S. government has
no intention of ending the war and bringing home all of the troops. Obama:
Time for ‘nation building’ at home
‘Surge’
troops to be ordered home Departure
plan will remove 33,000 troops faster than Obama’s commanders requested but
more slowly than many of his political allies would like. (Washington Post) [
Well, in a certain sense he’s chronologically correct … finish the job of
destruction at home … yeah … it’s true … they haven’t the slightest idea what
they’re doing and no matter what or where, pervasively corrupt, defacto
bankrupt america’s touch is an invariably destructive, negative touch (‘nation
building’ the coy, euphemistic phrase for what is in fact ‘nation destroying’,
regardless of spin, propaganda, and outright lies). Obama’s
task: Keep support for Afghan war The president’s prime-time address on
plans to gradually withdraw troops must remind a skeptical electorate and a
concerned Congress that the country’s longest war remains worth fighting — and
funding. (Washington Post) [ Obama’s task? Support for this nation’s
self-bankrupting Afghan (among other) war(s)? Geeh! Silly me! And all the while
I thought wobama’s task was to bring to fruition all those laudable campaign
promises; viz., jobs / economy not wars, prosecution of the frauds on wall street
responsible for the crisis, etc.. What a total fraud wobama is. America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world combined...
fed employees / contractors, cia, all 3 branches of u.s. gov’t, etc., are
included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Relief
in Greece may be temporary Unless
negotiators agree to a long-term budget plan, it will be back to the brink by
the end of summer. (Washington Post) [
That’s an understatement. How ‘bout in ‘Terminator’ fashion they’ll be back by
the end of the summer regardless of the paper plan based on … more paper!
‘Greecin’ the skids, so to speak … for the frauds on wall street. The recurring
non-event that makes for great press purporting to be the main event. The new
scam / sham to keep suckers suckered. I mean, look at the yet again end of
month, quarter, half window dressing based on nothing at all. The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! Foreclosure, distressed sales up, at least on paper with contracts
signed, so no surprise nor reason to cheer here, as markets worldwide jump on
the american crazy train for a short-lived bounce as all problems remain. This
is the same month end (and quarter, half) spurt / window dressing based on
b***s*** alone to keep the suckers suckered and an especially great time to
sell / take profits since there’s much worse to come! Talk about milking the
greek crisis for the umpteenth time a so-called solution (and there are loads
of greecy scenarios worldwide … I don’t
think so and neither does Schaeffer who says: ‘…even once such a package is passed it only buys
time. Actually fixing the fiscal condition of Greece is not something that can
be solved in a matter of weeks, or even months…‘ but
it’s great press for the churn and earn and to keep the suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into.
This is an especially great opportunity to sell / take profits while you still
can since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s
not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money--
Moody's
warns may downgrade U.S. muni debt ratings
Obama
strikes combative new tone The president sought to assert a commanding
presence on the issues defining his presidency. Milbank:
Obama fights back He was
uncharacteristically assertive in Wednesday’s presser. (Washington Post) [ Defining his presidency?
As with war criminal dumbya bush et als, define ‘failure’, and ‘eureka’!
‘Mission accomplished’! Fait accomplis! If only ‘wobama the b’ (for b***s***)
had done what he said (in his campaign) he was going to do, all would have been
different, including pervasively courrupt, defacto bankrupt america’s and now
the world’s now even more dire, dour prospects. Too little, too late for yet
another failed american presidency. . House
rejects Obama’s Libya policy Lawmakers vote down a measure that would
authorize mission, but stop short of cutting funding. (WP) [ Ah, riiiiight! The
worst of both worlds. ‘Cutting the baby in half’ probably their most
politically expedient solution to appeasing their respective ‘support groups’.
Though not the kind of group therapy support groups that immediately come to
mind, one laments the various elements of the pervasively corrupt u.s.
government are not receiving the kind of psychotherapy they need by way of
group therapy or otherwise. Speaking of
spending cuts, here’s one they ‘dare not do’:
House
votes down SEC budget hike Agency has been seeking a budget increase to
keep pace with its expanded responsibilities. (WP) [ No surprise here given the
prior and continuing defacto complicity in wall street’s enormous frauds. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman … Yet, one must
ask what have they been doing and already getting paid for? Roche 'The worst
part of it ...Obama, who vowed change,
has done almost nothing to fix any of it and in fact continues most of the
policies that helped get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud ) …
I want just one person
with courage enough to stand up and explain to all that these huge
commissionable computerized trading volumes like never before are a net
negative in a very big way … that’s a fact … that’s economic reality in real
terms! … Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I mean, come on! This
catering to fraudulent wall street was a loser ab initio! That so-called
‘wealth effect’ market froth was used previously by senile ‘maestro’ greenspan
and failed miserably except for the frauds on wall street who commissioned up
and down; and, make no mistake, those computer-programmed high-frequency
trading volumes have now been maximized for nation-economy-draining profits for
the frauds like never before and have never been higher. The QE and dollar-debasement
policies were always predictably inflationary, ultimately hyperinflationary,
particularly for stocks; that ‘feel good’ obfuscation that was but in reality
good only for the frauds on wall street. No, there is no modern day alchemy
that spins worthless paper into gold except fraudulently for the frauds on wall
street who’ve literally oftimes done exactly that; ‘cashing out’ for hard
currency and gold, precious metals, at everyone else’s expense including main
street. ] Milbank:
Progressives voice anger at Obama (Washington Post) [ Progressives? Is that all,
Mr. ‘wobama aficionado’, aka Mr. Milbank. How about the vast and overwhelming
majority of this nation, and add in the rest of the world to boot. Robinson:
Why does the Afghan war go on? (Washington
Post) [ Well, there’s one person who minces no words as to why: Drudgereport: FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'... Minister
Farrakhan: “That’s A Murderer In The White House!” Minister Farrakhan exposed
the U.S. and NATO’s criminal War Libya and Africa during a June 15, 2011 Press
Conference at the UN Plaza Hotel. Then there are, beyond the regional proximity
to oil and an american induced resurgent poppy / heroin production / trade (the
Taliban had all but eradicated same). After all, pervasively corrupt, defacto
bankrupt america is into the illegal drug trade in a very big way. Obama’s Drawdown Speech: More Orwellian Lies Kurt Nimmo | The U.S. government has
no intention of ending the war and bringing home all of the troops. Obama:
Time for ‘nation building’ at home
‘Surge’
troops to be ordered home Departure
plan will remove 33,000 troops faster than Obama’s commanders requested but
more slowly than many of his political allies would like. (Washington Post) [
Well, in a certain sense he’s chronologically correct … finish the job of
destruction at home … yeah … it’s true … they haven’t the slightest idea what
they’re doing and no matter what or where, pervasively corrupt, defacto
bankrupt america’s touch is an invariably destructive, negative touch (‘nation
building’ the coy, euphemistic phrase for what is in fact ‘nation destroying’,
regardless of spin, propaganda, and outright lies). Obama’s
task: Keep support for Afghan war The president’s prime-time address on
plans to gradually withdraw troops must remind a skeptical electorate and a
concerned Congress that the country’s longest war remains worth fighting — and
funding. (Washington Post) [ Obama’s task? Support for this nation’s
self-bankrupting Afghan (among other) war(s)? Geeh! Silly me! And all the while
I thought wobama’s task was to bring to fruition all those laudable campaign
promises; viz., jobs / economy not wars, prosecution of the frauds on wall
street responsible for the crisis, etc.. What a total fraud wobama is. Inflation
Expectations Are Heating Up
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Kick
the can (Washington Post) [ I totally agree with Mr. Robinson; namely, they
all need a kick in the can … you know, that ‘washington establishment’ that
have failed all so miserably. Well, I know that’s not what he really meant.
But, ‘do no harm’? Methinks it’s too little, too late no matter what they do to
avoid that! Market Crash 6/30/11?Technical indicators suggest market collapse may
begin by June 30th Dennis Slothower is one of the world’s leading technical
analysts. He’s one of the few advisors whose readers completely avoided ALL
losses during the disaster that was 2008. And now he’s issuing another dire
warning. His technical indicators suggest that the market manipulation we’ve
seen over the last several months is about to come to an end…and that means
thousands of investors are about to get clobbered. This correction could begin
as soon as June 30th– so it’s important that
you take action now to prepare yourself. StealthStocksOnline.com
JFK {Platoon
, Wall Street , Natural Born Killers , W. , Wall Street: Money Never Sleeps } [And yes; I also believe there’s been a coup d’etat in pervasively
corrupt, defacto bankrupt, banana republic america, gunboat diplomacy,
plundering the treasury, and all! ]
[I saw ‘JFK’ for the first time today and must say, though preoccupied
at the time (1992) with other things (RICO and consequent substantial pressure
from various nefarious elements, mob, mob-connected / controlled, corrupt
government-state,local,federal, etc.. ) I was ‘hoodwinked’ by mainstream media
critics who for the most’ ho-hummed’ the film as more of the same conspiracy
stuff the factual basis for which I was already familiar with; and hence,
disinclined to make any significant effort to view same. Boy, were they and
derivatively I wrong! I am totally astounded by the insightful documentation in
this film, so masterfully presented in cinematic form. If at all, Stone seemed
shy about presenting even reasonable inferences from facts so strictly set
forth. By leading with actual speech footage from who I believe to have been
america’s last great president / leader, the substantially underrated President
General Eisenhower who warned of the dangers inherent to the military /
industrial complex, Stone set the tone for what I believe to have been the most
courageous and significant warning of the current national and global crises
confronting the nation and world today and the reasons therefore (his negative
exposés of wall street, inherent american criminality, W, etc., complement and
support his theme while revealing his wide range, wisdom, and talent). (I must
say that I liked Ronald Reagan, as I’ve previously said I like Robert Redford,
as being very likeable guys - I’m also conservative, but not to a fault – his
rational approach and results with Gorbachev were his most significant
accomplishments. Parenthetically and coincidentally, I also saw for the first
time this same day, Reagan in ‘Bedtime for Bonzo’; and, I was shocked that it
was better than I could have possibly imagined and hardly the stuff warranting
the mocking he got for same on the political trail … do you think it was just a
foreboding of the nation’s current predicament with ‘wobama the b’ (for
b***s***); and yes, I do have that ‘birther wobama family portrait’ on my
website front page http://albertpeia.com . In sum, the inherently criminal behaviors
of americans as depicted are all too real and an auspicious sign indicative of
corruption across the board and through all levels of u.s. government. In light
thereof, I’m compelled to wonder as previously set forth and infra, whether my
trust in and affinity for the FBI will have been ultimately proven to have been
contraindicated in fact and reality; and hence, as I ponder, a maladaptive
personal trait / flaw. Stated another way, should having then done the deal
with the mob for the money despite personal ethics and oath militating against
same have been the correct choice in pervasively corrupt america. It certainly
up to this point would have been the most expedient, efficacious, and adaptive
choice in pervasively corrupt, inherently criminal america. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
Year |
Film |
Academy Award Nominations |
Academy Award Wins |
Golden Globe Nominations |
Golden Globe Wins |
BAFTA Nominations |
BAFTA Wins |
1974 |
|
|
|
|
|
|
|
1981 |
|
|
|
|
|
|
|
1986 |
2 |
|
|
|
|
|
|
1986 |
8 |
4 |
4 |
3 |
3 |
2 |
|
1987 |
1 |
1 |
1 |
1 |
|
|
|
1988 |
|
|
|
|
|
|
|
1989 |
8 |
2 |
5 |
4 |
2 |
|
|
1991 |
|
|
|
|
|
|
|
1991 |
8 |
2 |
4 |
1 |
2 |
2 |
|
1993 |
|
|
1 |
1 |
|
|
|
1994 |
|
|
1 |
|
|
|
|
1995 |
4 |
|
1 |
|
1 |
|
|
1997 |
|
|
|
|
|
|
|
1999 |
|
|
|
|
|
|
|
2003 |
|
|
|
|
|
|
|
2004 |
|
|
|
|
|
|
|
2006 |
|
|
|
|
|
|
|
2008 |
|
|
|
|
|
|
|
2009 |
|
|
|
|
|
|
|
2010 |
|
|
1 |
|
|
|
|
2012 |
|
|
|
|
|
|
|
Total |
31 |
9 |
17 |
9 |
8 |
4 |
October 15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom
autorun disk (which will open in your computer’s browser) as per your office’s
request as made this day (the disk and contents have been scanned by Avast,
McAfee, and Norton which I’ve installed on my computer to prevent viral attacks
/ infection and are without threat). I also include 1 copy of the DVD as filed
with the subject court as referenced therein (which files are also included on
the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil)
RICO action (as you’re aware, the RICO Act is a criminal statute which provides
a civil remedy, including treble damages and attorney fees, as an incentive for
private prosecution of said claims probably owing to the fact that the USDOJ
seems somewhat overwhelmed and in need of such assistance given the seriousness
and prevalence of said violations of law which have a corrupting influence on
the process, and which corruption is pervasive). A grievance complaint against
Coan was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the
horizontal rule are the referenced documents as filed. (Owing to the damage to
the financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent
resolution seek to refer the within to a firm with expertise in that area of
the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty
of Perjury at Their Request (5 pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman
by way of email attachment (apparent but typical problem with my mail) along
with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm .
With regard to the calls to the FBI’s LA and New Haven, CT offices:
There was one call to the LA office and I was referred to the Long Beach, CA
office where I personally met with FBI Agent Jeff Hayes to whom I gave
probative evidentiary documents of the money laundering which he confirmed as
indicative of same (he was transferred from said office within approximately a
month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said
correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth
in the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).
----------
*The foregoing and as indicated therein was
previously send 9-14-10 but delivery confirmation was flawed as set forth below
and my inquiries to the u.s. postal service rebuffed (I believe tampered with
inasmuch as your office could not locate same). This cover letter (9-13-10) is
on the 3 disks with navigable hyperlinks to the subject files for ease of
reference, including the files in the RICO action as indicated. (10-15-10) I
spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office
has not received the aforesaid and which can reasonably be presumed to have
been tampered with, and hence, a violation of the federal statute concerning
same. (Ultimately delivered by UPS) ]
FBI
trouble after Bulger’s capture? The
crime boss is said to have boasted of corrupting agents. If he talks, some
could live to regret it. (Washington Post) [ Wow! I knew the northeast
generally, jersey / new york particularly in terms of mob infestation /
infiltration / control, and the unique status of virginia in terms of
government (cia / military, all three branches in support thereof) involvement
in the illegal drug trade, etc., connecticut and california derivatively
thereby; but I’m now wondering about the stonewalling across the board
regarding the RICO matters [ I personally trust the FBI, and to be truthful,
really have no choice but to do so; moreover, I personally like the FBI … I
hope that’s not been a mistake and ultimately a personal flaw, respectively,
since it is the liars (sic lawyers, ie., in the DOJ, etc.) who’ve been
invariably the corrupting, corrupt, corruptible agents, including judicially
and otherwise ]. : http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm . Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the objection
of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia /
organized crime [ this was documented with authority in the book ‘Goombata: The
Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality http://albertpeia.com/grimreality.htm Mob
boss brought back to Boston; will he sing? DENISE LAVOIE BOSTON (AP) — James "Whitey"
Bulger's capture could cause a world of trouble inside the FBI.
The
ruthless Boston crime boss who spent 16 years on the lam is said to have
boasted that he corrupted six FBI agents and more than 20 police officers. If
he decides to talk, some of them could rue the day he was caught.
"They
are holding their breath, wondering what he could say," said Robert
Fitzpatrick, the former second-in-command of the Boston FBI office.
The
81-year-old gangster was captured Wednesday in Santa Monica, Calif., where he
apparently had been living for most of the time he was a fugitive. He appeared
Friday afternoon inside a heavily guarded federal courthouse in Boston to
answer for his role in 19 murders.
Bulger,
wearing jeans and a white shirt, looked tan and fit and walked with a slight
hunch at back-to-back hearings on two indictments. He asked that a public
defender be appointed to represent him, but the government objected, citing the
$800,000 seized from his Southern California apartment and his "family
resources."
"We
think he has access to more cash," said prosecutor Brian Kelly.
At the
second hearing, Bulger took a swipe at prosecutors after Magistrate Judge
Marianne Bowler asked him if he could afford to pay for an attorney.
"Well,
I could, if they would give me my money back," he replied in his
unmistakable Boston accent, prompting laughter in the courtroom.
Kelly
implied that Bulger's cash came from illegal activities.
"He
clearly didn't make that on a paper route on Santa Monica Boulevard," he
said.
Prosecutors
asked that Bulger be held without bail, saying he is danger to the community
and may try to threaten witnesses.
"He's
also, quite obviously, a risk of flight," Kelly said.
Kelly also
said Catherine Greig, Bulger's longtime girlfriend who was arrested with him,
told court officials that Bulger's brother may be willing to assist him in
posting bail.
Bulger did
not ask for a detention hearing, but his lawyer said he may later make an
argument that Bulger should be released on bail while awaiting trial.
The amount
of money found in Bulger's apartment confirmed a longheld belief by
investigators that he kept large stashes of cash for a life on the run.
"We
clearly don't think this is his last stash," Kelly said.
When
Bulger walked into the courtroom, he saw his brother William, the former
powerful leader of the state Senate, seated in the second row. Whitey Bulger
smiled at him and mouthed, "Hi." His brother smiled back.
Greig
appeared in court a few minutes later on charges of harboring a fugitive. She
asked for a hearing to determine whether she can be released on bail, and one
was scheduled for next week.
Bulger,
the former boss of the Winter Hill Gang, Boston's Irish mob, embroiled the FBI
in scandal after he disappeared in 1995. It turned out that Bulger had been an
FBI informant for two decades, feeding the bureau information on the rival New
England Mafia, and that he fled after a retired Boston FBI agent tipped him off
that he was about to be indicted.
The
retired agent, John Connolly Jr., was sent to prison for protecting Bulger. The
FBI depicted Connolly as a rogue agent, but Bulger associates described more
widespread corruption in testimony at Connolly's trial and in lawsuits filed by
the families of people allegedly killed by Bulger and his gang.
Kevin
Weeks, Bulger's right-hand man, said the crime lord stuffed envelopes with cash
for law enforcement officers at holiday time. "He used to say that
Christmas was for cops and kids," Weeks testified.
After a
series of hearings in the late 1990s, U.S. District Judge Mark Wolf found that
more than a dozen FBI agents had broken the law or violated FBI regulations.
Among them
was Connolly's former supervisor, John Morris, who admitted he took about
$7,000 in bribes and a case of expensive wine from Bulger and henchman Stephen
"The Rifleman" Flemmi. Morris testified under a grant of immunity.
In
addition, Richard Schneiderhan, a former Massachusetts state police lieutenant,
was convicted of obstruction of justice and conspiracy for warning a Bulger
associate that the FBI had wiretapped the phones of Bulger's brothers.
Edward J.
MacKenzie Jr., a former drug dealer and enforcer for Bulger, predicted that
Bulger will disclose new details about FBI corruption and how agents protected
him for so long.
"Whitey
was no fool. He knew he would get caught. I think he'll have more fun pulling
all those skeletons out of the closet," MacKenzie said. "I think
he'll start talking and he'll start taking people down."
A
spokesman for the Boston FBI did not return calls seeking comment. In the past,
the agency has said that a new generation of agents has replaced most or all of
the agents who worked in the Boston office while Bulger was an informant.
A law
enforcement official who requested anonymity because of the ongoing
investigation told The Associated Press on Friday that FBI agents lured Bulger
out of his., apartment earlier this week by telling him someone had broken into
his on-site storage unit. The official said Bulger walked out of the apartment,
was arrested without incident and consented to a search of the premises.
Some law
enforcement officials said they doubt Bulger will try to cut a deal with
prosecutors by exposing corruption, in part because he will almost certainly be
asked to reveal what contact he had with his brothers while he was a fugitive
and whether they helped him in any way.
"If
Bulger talks, he would have to talk about his brothers, and I can't see that
happening, said retired state police Detective Lt. Bob Long, who investigated
Bulger in the 1970s and '80s."They are not going to take selective
information from him — it's either full and complete cooperation or
nothing."
Criminal
defense attorney and former Drug Enforcement Administration agent Raymond
Mansolillo said Bulger may not have any incentive to talk. "The FBI may
say, 'You're going to jail or you're going to be killed. We're not offering you
anything,'" said Mansolillo, who once represented New England crime figure
Luigi "Baby Shacks" Manocchio.
But
retired Massachusetts state police Maj. Tom Duffy, one of the lead investigators
in the Bulger case, said Bulger may agree to talk if he thinks it could help
his girlfriend.
"It's
very possible he's concerned about her well-being — she was with him for 16
years and was very loyal to him," Duffy said. "That may be a
bargaining chip for the government during negotiations."
The
question of whether Bulger will be given a public defender will be decided
later. A hearing was scheduled for Tuesday. He did not enter a plea.
Bulger is
"looking forward to facing the charges against him," said Peter
Krupp, a lawyer assigned to represent Bulger for purposes of Friday's hearing
only.
Among the
onlookers at the courthouse was Margaret Chaberek, who grew up in Bulger's home
turf of South Boston. "I'm here to see him get what he deserves," she
said.
Ina
Corcoran of suburban Braintree came on her day off to witness a piece of
history and sat on a bench outside the fifth-floor courtroom, saying it was
like being there to see Al Capone.
"If
you could go back in time to be in that courtroom, wouldn't you?" she
said.
___
Associated
Press writers Johanna Kaiser, Laura Crimaldi in Providence, R.I., Curt Anderson
in Miami and Greg Risling in Los Angeles contributed to this report.’
Here’s
Why Pending Home Sales Skyrocketed in May Wall St. Cheat Sheet[Foreclosure, distressed sales up, at least on
paper, from contracts signed!]
The Real Reason Behind This Rally - How High Will It Go?
ETFguide Simon Maierhofer, On Wednesday June 29, 2011 ‘If you've read any of my
articles before, you know that I have a mini obsession with reading (and
quoting) headlines. As a contrarian, I always like to have a pulse on the
media's outlook because it can provide valuable contrarian clues.
Here
are some of the headlines featured last week:
'Greek
default could trigger chain reaction' - AP
'Why Wall
Street still says buy, and you shouldn't' - AP
'Is the
bull market over?' - Barrons.com
Interestingly,
the Barrons.com article commented that: 'A look at four different sentiment
measures suggests that more pain may await investors.'
I looked
at similar sentiment measures and my conclusion was just the opposite.
Bearish
Sentiment Extremes
By last
Thursday (June 16) the market had recorded a number of bearish sentiment
extremes. The most notable was the CBOE Equity Put/Call Ratio, which spiked to
the highest level since early 2009.
Bullish
sentiment captured by the AAII and II polls had also dropped significantly. In
fact, the percentage of bullish advisors and investors was almost as low last
week as it was in the summer of 2010 when the S&P was just barely above
1,000.
The VIX
(Chicago Options: ^VIX) was the only sentiment gauge that wasn't in dangerous
territory. However, the VIX set up to trigger a buy signal for stocks on
Wednesday (June 15).
The chart
below featured last week by the ETF Profit Strategy Newsletter on June 17,
neatly summarizes the various sentiment indicators. The Newsletter's simple
conclusion was that: 'Things might be so bad, it's actually good.'
http://www.etfguide.com//contributor/UserFiles/8/Image/vital%20signs%20july%20yahoo.gif
Support
Levels
Sentiment
gauges are valuable, but basing decisions merely on sentiment can be dangerous.
For that reason, the ETF Profit Strategy Newsletter always looks at
structurally important support/resistance levels.
Here are
some of them mentioned in Wednesday's (June 15) Profit Strategy update:
1) A trend
line originating at the March 2009 low 2) Fibonacci support 3) March 16, 2011
low 4) 200-day moving average 5) Weekly pivot support
All this
support was clustered between S&P (SNP: ^GSPC) 1,259 - 1,245, and the
Newsletter recommended to close out short positions (established when the
S&P reached the Newsletter's upside target at 1,369) and leg into long
positions as soon as the S&P entered this range. It did so on Thursday,
June 16.
Bullish
Dow Theory Non-Confirmation
In the
week of June 13, The Dow Jones Industrial Average (DJI: ^DJI) dropped to a new
3-month low on Wednesday (June 15), while the Dow Jones Transportation Average
(NYSEArca: IYT - News)
recorded its low previously on Monday (June 13). According to Dow Theory, this
is bullish as long as the Dow Jones Transportation Average does not fall below
5,043.21 and not close below 5,072.58.
Another
bullish non-confirmation was found between the DJIA (NYSEArca: DIA
- News)
and the S&P 500 (NYSEArca: VOO - News),
Russell 2000 (NYSEArca: IWM - News),
Nasdaq Composite (Nasdaq: ^IXIC), and Nasdaq-100 (Nasdaq: QQQ
- News).
The senior DJIA was the only major index that did not fall to a new low on
Thursday (June 16).
How
High Will it Go?
The key
question now is whether this rally is merely a bounce within a new bear market
or an attempt to reach new highs. The assessment made on June 15 was that: 'The
current trading range is seen to be between 1,250 - 1,300.'…’ [ This is but a
bounce in a secular bear market based on b***s*** alone! ]
Population bomb: 9 billion march to WWIII Paul B. Farrell
How much will our wars cost? Report says $4 trillion
Farage:
Arab Spring Could Lead to “Mediterranean Summer of Discontent” BBC News | “It doesn’t matter how
much money you throw at it… the fact is that Greece is going bust,” he told
MEPs.
EU
president Van Rompuy fear-mongers global economic ruin if Greek austerity vote
fails AFP |
Brussels told Greece that no “Plan B” would be waiting if it failed to pass the
measures demanded.
Meet The
IMF’s New Leader, Christine Lagarde NPR
| France’s finance minister secured the top job at the IMF.
The day in 2011 that will change your life (Stansberry) http://www.stansberryresearch.com/pro/1011PSIEND49/LPSILC42/PR
Bank
of America close to $8.5B deal Bank could announce a settlement today
involving claims it sold investors poor-quality securities. (Washington Post) [ Great deal, for them as
for the big frauds on wall street who’ve cashed out worthless / toxic / assets
/ paper at ‘mark to anything’ (congressional FASB rule change help) and QE etc.
(fed help - Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money--). House
rejects Obama’s Libya policy Lawmakers vote down a measure that would
authorize mission, but stop short of cutting funding. (Washington Post) [ Ah,
riiiiight! The worst of both worlds. ‘Cutting the baby in half’ probably their
most politically expedient solution to appeasing their respective ‘support
groups’. Though not the kind of group therapy support groups that immediately
come to mind, one laments the various elements of the pervasively corrupt u.s.
government are not receiving the kind of psychotherapy they need by way of
group therapy or otherwise. Speaking of
spending cuts, here’s one they ‘dare not do’:
House
votes down SEC budget hike Agency has been seeking a budget increase to
keep pace with its expanded responsibilities. (Washington Post) [ No surprise
here given the prior and continuing defacto complicity in wall street’s
enormous frauds. The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed! Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman … Yet, one must
ask what have they been doing and already getting paid for? Roche 'The worst
part of it ...Obama, who vowed change,
has done almost nothing to fix any of it and in fact continues most of the
policies that helped get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud ) …
I want just one person
with courage enough to stand up and explain to all that these huge
commissionable computerized trading volumes like never before are a net
negative in a very big way … that’s a fact … that’s economic reality in real
terms! … Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
A
debt ceiling leadership failure On Leadership | Congress’s failure to fix
the budget deficit is due to fundamental differences of opinion on the role of
government. U.S.
consumer confidence unexpectedly (but realistically – and not because of the
budget stalemate) falls (Washington
Post) [Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS
HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘President
enters the debt talks Obama hosts sitdowns as leaders remain divided over
spending reductions and tax increases. (Washington Post) [ Oooooh! The big gun
has arrived, with the biggest gun, Mr. Teleprompter just a hot line away. Come
on! Let’s get real! What does wobama the b (for b***s***) know that any of
these other fellow nincompoops don’t; particularly about economics / finance,
even compared to ‘Lobotomy Joe’. Market Crash 6/30/11?Technical indicators suggest
market collapse may begin by June 30th Dennis Slothower is one of the world’s
leading technical analysts. He’s one of the few advisors whose readers
completely avoided ALL losses during the disaster that was 2008. And now he’s
issuing another dire warning. His technical indicators suggest that the market
manipulation we’ve seen over the last several months is about to come to an end…and
that means thousands of investors are about to get clobbered. This correction
could begin as soon as June 30th– so it’s
important that you take action now to prepare yourself.
StealthStocksOnline.com [
Oooooh! Bring in the big guns; viz., ‘wobama the b’ (for b***s***) … sounds
like a plan! After all, ultimately it’s Mr. Teleprompter who’ll have the final
say; and, it seems like wobama’s got a lock on that ‘relationship with Mr. T;
you know, ‘pecking order’ kinds of stuff … Then begs the question: Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile
‘maestro’ greenspan and failed miserably except for the frauds on wall street
who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ]
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
New
IMF chief faces immediate tests Lagarde faces immediate tests in Greece, as
well as a longer-range commitment to giving developing nations more power
within the IMF.(Washington Post) [ Test number 1: Can she count? Yes, a simple
math test. Test number 2: Has she lost
touch with reality? Yes, a simple psychological test determinative of whether
she’s lost touch with reality. If, unlike her american ‘counterparts along with
no-recession-helicopter-ben-bs-bernanke’, she passes tests 1 and 2, she then
qualifies to undergo tests for competence in economics, finance, law which thus
far have been absent from both discourse and action. House
rejects Obama’s Libya policy Lawmakers vote down a measure that would
authorize mission, but stop short of cutting funding. (Washington Post) [ Ah,
riiiiight! The worst of both worlds. ‘Cutting the baby in half’ probably their
most politically expedient solution to appeasing their respective ‘support
groups’. Though not the kind of group therapy support groups that immediately
come to mind, one laments the various elements of the pervasively corrupt u.s.
government are not receiving the kind of psychotherapy they need by way of
group therapy or otherwise. Speaking of
spending cuts, here’s one they ‘dare not do’:
House
votes down SEC budget hike Agency has been seeking a budget increase to
keep pace with its expanded responsibilities. (Washington Post) [ No surprise
here given the prior and continuing defacto complicity in wall street’s
enormous frauds. The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed! Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman … Yet, one must
ask what have they been doing and already getting paid for? Roche 'The worst
part of it ...Obama, who vowed change,
has done almost nothing to fix any of it and in fact continues most of the
policies that helped get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud ) …
I want just one person
with courage enough to stand up and explain to all that these huge
commissionable computerized trading volumes like never before are a net
negative in a very big way … that’s a fact … that’s economic reality in real
terms! … Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [
How ‘bout both! I mean, come on! This catering to fraudulent wall street was a
loser ab initio! That so-called ‘wealth effect’ market froth was used
previously by senile ‘maestro’ greenspan and failed miserably except for the
frauds on wall street who commissioned up and down; and, make no mistake, those
computer-programmed high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ] In his June 7
speech, Fed Chairman Ben Bernanke stated, “the best way for the Federal Reserve
to support the fundamental value of the dollar in the medium term is to pursue
our dual mandate of maximum employment and price stability, and we will
certainly do that.”
.. Bernanke’s results ..
since Ben took the reins:
Feb ’06 – April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
.. The
standard unemployment rate most often used by the Fed is currently at 9.1%, up
90% since Bernanke started. The more inclusive (realistic) U6 number
stands at 15.8%, up 75% in the same period. The Civilian Participation
Rate has declined 2.87% to 64.2%.
This is the lowest level
the U.S. has seen since March, 1984. The decline amounts to 8,946,844
fewer Americans in the labor force. Had they not dropped out because of a
lack of jobs, the “official” unemployment rate would be significantly
higher. While we can debate the meaning of the term maximum employment,
it is clear that the jobs data has deteriorated considerably since Bernanke
took the reins at the Fed. ..
In conclusion, it is
evident that Ben Bernanke is failing his mandates. We believe it must
come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding.
Matt Marcewicz
& Robert Barone, Ph.D.
.. ‘ Inflation Expectations Are Heating Up
Market Crash 6/30/11?Technical
indicators suggest market collapse may begin by June 30th Dennis Slothower is
one of the world’s leading technical analysts. He’s one of the few advisors
whose readers completely avoided ALL losses during the disaster that was 2008.
And now he’s issuing another dire warning. His technical indicators suggest
that the market manipulation we’ve seen over the last several months is about
to come to an end…and that means thousands of investors are about to get
clobbered. This correction could begin as soon as June
30th– so it’s important that you take action now to prepare yourself.
StealthStocksOnline.com
National / World
Greece
to vote on austerity plan Lawmakers are expected to vote today on $40B
package of spending cuts that have sparked protests. (Washington Post) [ ‘Greecin’ the skids, so
to speak … for the frauds on wall street. The recurring non-event that makes
for great press purporting to be the main event. The new scam / sham to keep
suckers suckered. I mean, look at the yet again end of month, quarter, half
window dressing based on nothing at all.
The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! Talk about
milking the greek crisis and for the umpteenth time a so-called solution (and
there are loads of greecy scenarios worldwide) … I don’t think so and neither does Schaeffer
who says: ‘…even once such a package is passed it only buys time.
Actually fixing the fiscal condition of Greece is not something that can be
solved in a matter of weeks, or even months…‘ but it’s great press for the churn and earn and to keep the
suckers suckered. Technology rally? Defacto bankrupt american technology is
horrendous but great sizzle for the new fraud as in the dotcom bust days. Then
there’s the greasy b.s. new greecy b.s. factor. The rally into the close and the previous
so-called (4 day) ‘rally’ was based on b***s*** alone to keep the suckers
suckered and for ‘smarter money ‘ along with the frauds to sell into. This is
an especially great opportunity to sell / take profits while you still can
since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert
Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times. The risk of a debt default over the combustible issue of the
Medicare deficit hangs over the course of the stock market. Buyers Beware!“I
was up in Wall Street this week,” Brooks said. “They’re vastly
underestimating the source of piolitical risk here. We could have a major
problem, I think, either this summer or the next couple years. And I’d be
worried about investing too much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating long-term
economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) They’ve used the
contrived mideast turmoil and their wars to obfuscate and divert attention from
their failure. Davis ‘This is how
we pay off our current debts and I think bondholders are simply happy to get
anything out of a country that admits it owes $15Tn (1/4 of global GDP) but
probably owes closer to $60Tn (entire global GDP) in the form of unfunded
liabilities. The funniest thing about this (and you have to laugh) is to see
Conservative pundits get on TV and talk about how we need to cut $100Bn worth of
discretionary spending to "fix" this (while continuing to spend $1Tn
on the military and $1Tn on tax cuts for the top 1% each year). There is no
fixing this and even a Republican said you can’t fool all of the people all of
the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- Market Crash 6/30/11?Technical indicators suggest
market collapse may begin by June 30th Dennis Slothower is one of the world’s
leading technical analysts. He’s one of the few advisors whose readers
completely avoided ALL losses during the disaster that was 2008. And now he’s
issuing another dire warning. His technical indicators suggest that the market
manipulation we’ve seen over the last several months is about to come to an
end…and that means thousands of investors are about to get clobbered. This
correction could begin as soon as June 30th– so
it’s important that you take action now to prepare yourself.
StealthStocksOnline.com
The day in 2011 that will change your life (Stansberry) http://www.stansberryresearch.com/pro/1011PSIEND49/LPSILC42/PR
A World
Overwhelmed By Western Hypocrisy Paul
Craig Roberts | Western institutions have become caricatures of
hypocrisy.
Ron
Paul On 2012: Establishment, Media Unable To Exclude Me This Time Around Steve Watson | Texas Congressman Ron
Paul feels much more optimistic about his 2012 presidential run.
The
Bank Of America Non-Settlement “Settlement” Zero Hedge | Some curious language in the BAC
settlement.
Why your local Hospital could soon shut down (Stansberry
Newsletter) http://www.stansberryresearch.com/pro/1011PSIEND49/LPSILC42/PR
Pakistan
tells US to leave ‘drone’ attack base AFP | Pakistan tells U.S. to leave a remote base
reportedly used as a hub for covert CIA drone attacks.
Obama
looks to big donors to fund early push The president and top aides are
waging a behind-the-scenes push to win over skeptical big-dollar donors, whose
cash is needed to finance dramatic summertime growth in his battleground-state
machinery. Earlier:
In trip to New York, a focus on Wall Street cash (Washington Post) [ I’m sure it comes as no
revelation that the time has come for a revamp of pervasively corrupt, defacto
bankrupt america’s ‘election process / rules’ which have been so antithetical
to the purported democracy they’ve been meant to serve; but to the contrary,
have literally in terms of reality, contributed in large part to the decline
and fall of this nation. Indeed, the bribes have left criminals / frauds, ie.,
wall street, etc., doing what they do best; viz., crime, fraud; along with the
military / industrial complex doing what they do best; viz., waging /
contriving needless war, depleting / plundering treasury, etc.. Pervasively
corrupt, defacto bankrupt america has never been more diminished in the eyes of
this nation and the rest of the world which view comports with factual reality.
Moreover, some very capable people have been precluded from participation in
government owing to what has become a ‘country club institution of incompetents
/ inmates running this asylum aka the so called u.s. government’. In any event,
wobama the b (for b***s***) is done, a proven failed president as dumbya bush
et als before him, and the same would be just wasted cash in any event.
Wobama’s pathetic!
JFK {Platoon
, Wall Street , Natural Born Killers , W. , Wall Street: Money Never Sleeps } [And yes; I also believe there’s been a coup d’etat in
pervasively corrupt, defacto bankrupt, banana republic america, gunboat
diplomacy, plundering the treasury, and all! ] [I saw ‘JFK’ for the first time today and
must say, though preoccupied at the time (1992) with other things (RICO and
consequent substantial pressure from various nefarious elements, mob,
mob-connected / controlled, corrupt government-state,local,federal, etc.. ) I
was ‘hoodwinked’ by mainstream media critics who for the most’ ho-hummed’ the
film as more of the same conspiracy stuff the factual basis for which I was
already familiar with; and hence, disinclined to make any significant effort to
view same. Boy, were they and derivatively I wrong! I am totally astounded by
the insightful documentation in this film, so masterfully presented in
cinematic form. If at all, Stone seemed shy about presenting even reasonable
inferences from facts so strictly set forth. By leading with actual speech
footage from who I believe to have been america’s last great president /
leader, the substantially underrated President General Eisenhower who warned of
the dangers inherent to the military / industrial complex, Stone set the tone
for what I believe to have been the most courageous and significant warning of
the current national and global crises confronting the nation and world today
and the reasons therefore (his negative exposés of wall street, inherent
american criminality, W, etc., complement and support his theme while revealing
his wide range, wisdom, and talent). (I must say that I liked Ronald Reagan, as
I’ve previously said I like Robert Redford, as being very likeable guys - I’m
also conservative, but not to a fault – his rational approach and results with
Gorbachev were his most significant accomplishments. Parenthetically and
coincidentally, I also saw for the first time this same day, Reagan in ‘Bedtime
for Bonzo’; and, I was shocked that it was better than I could have possibly
imagined and hardly the stuff warranting the mocking he got for same on the
political trail … do you think it was just a foreboding of the nation’s current
predicament with ‘wobama the b’ (for b***s***); and yes, I do have that
‘birther wobama family portrait’ on my website front page http://albertpeia.com . In sum, the inherently criminal behaviors
of americans as depicted are all too real and an auspicious sign indicative of
corruption across the board and through all levels of u.s. government. In light
thereof, I’m compelled to wonder as previously set forth and infra, whether my
trust in and affinity for the FBI will have been ultimately proven to have been
contraindicated in fact and reality; and hence, as I ponder, a maladaptive
personal trait / flaw. Stated another way, should having then done the deal
with the mob for the money despite personal ethics and oath militating against
same have been the correct choice in pervasively corrupt america. It certainly
up to this point would have been the most expedient, efficacious, and adaptive
choice in pervasively corrupt, inherently criminal america. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
Year |
Film |
Academy Award Nominations |
Academy Award Wins |
Golden Globe Nominations |
Golden Globe Wins |
BAFTA Nominations |
BAFTA Wins |
1974 |
|
|
|
|
|
|
|
1981 |
|
|
|
|
|
|
|
1986 |
2 |
|
|
|
|
|
|
1986 |
8 |
4 |
4 |
3 |
3 |
2 |
|
1987 |
1 |
1 |
1 |
1 |
|
|
|
1988 |
|
|
|
|
|
|
|
1989 |
8 |
2 |
5 |
4 |
2 |
|
|
1991 |
|
|
|
|
|
|
|
1991 |
8 |
2 |
4 |
1 |
2 |
2 |
|
1993 |
|
|
1 |
1 |
|
|
|
1994 |
|
|
1 |
|
|
|
|
1995 |
4 |
|
1 |
|
1 |
|
|
1997 |
|
|
|
|
|
|
|
1999 |
|
|
|
|
|
|
|
2003 |
|
|
|
|
|
|
|
2004 |
|
|
|
|
|
|
|
2006 |
|
|
|
|
|
|
|
2008 |
|
|
|
|
|
|
|
2009 |
|
|
|
|
|
|
|
2010 |
|
|
1 |
|
|
|
|
2012 |
|
|
|
|
|
|
|
Total |
31 |
9 |
17 |
9 |
8 |
4 |
October 15, 2010 (*see infra
{ultimately delivered by UPS})
Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom
autorun disk (which will open in your computer’s browser) as per your office’s
request as made this day (the disk and contents have been scanned by Avast,
McAfee, and Norton which I’ve installed on my computer to prevent viral attacks
/ infection and are without threat). I also include 1 copy of the DVD as filed
with the subject court as referenced therein (which files are also included on
the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil)
RICO action (as you’re aware, the RICO Act is a criminal statute which provides
a civil remedy, including treble damages and attorney fees, as an incentive for
private prosecution of said claims probably owing to the fact that the USDOJ
seems somewhat overwhelmed and in need of such assistance given the seriousness
and prevalence of said violations of law which have a corrupting influence on
the process, and which corruption is pervasive). A grievance complaint against
Coan was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the
horizontal rule are the referenced documents as filed. (Owing to the damage to
the financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent
resolution seek to refer the within to a firm with expertise in that area of
the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty
of Perjury at Their Request (5 pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman
by way of email attachment (apparent but typical problem with my mail) along
with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm .
With regard to the calls to the FBI’s LA and New Haven, CT offices:
There was one call to the LA office and I was referred to the Long Beach, CA
office where I personally met with FBI Agent Jeff Hayes to whom I gave
probative evidentiary documents of the money laundering which he confirmed as
indicative of same (he was transferred from said office within approximately a
month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation prior
to his retirement related to the case and parenthetically, Rudy Giuliani whose
father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said
correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth
in the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).
----------
*The foregoing and as indicated therein was
previously send 9-14-10 but delivery confirmation was flawed as set forth below
and my inquiries to the u.s. postal service rebuffed (I believe tampered with
inasmuch as your office could not locate same). This cover letter (9-13-10) is
on the 3 disks with navigable hyperlinks to the subject files for ease of
reference, including the files in the RICO action as indicated. (10-15-10) I
spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office
has not received the aforesaid and which can reasonably be presumed to have
been tampered with, and hence, a violation of the federal statute concerning
same. {Ultimately delivered by UPS} ]
FBI
trouble after Bulger’s capture? The
crime boss is said to have boasted of corrupting agents. If he talks, some
could live to regret it. (Washington Post) [ Wow! I knew the northeast
generally, jersey / new york particularly in terms of mob infestation /
infiltration / control, and the unique status of virginia in terms of
government (cia / military, all three branches in support thereof) involvement
in the illegal drug trade, etc., connecticut and california derivatively
thereby; but I’m now wondering about the stonewalling across the board regarding
the RICO matters [ I personally trust the FBI, and to be truthful, really have
no choice but to do so; moreover, I personally like the FBI … I hope that’s not
been a mistake and ultimately a personal flaw, respectively, since it is the
liars (sic lawyers, ie., in the DOJ, etc.) who’ve been invariably the
corrupting, corrupt, corruptible agents, including judicially and otherwise ].
: http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm . Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether implicit
or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively corrupt,
defacto bankrupt, fallen america.
Indeed, the scenario typifies that national drain / sinkhole new york (new york
/ new jersey metro) where, for example, FBI informants were routinely exposed
by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and
were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this
was documented with authority in the book ‘Goombata: The Improbable Rise and
Fall of John Gotti and His Gang’ Cummings /
Volkman Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality http://albertpeia.com/grimreality.htm Mob
boss brought back to Boston; will he sing? DENISE LAVOIE BOSTON (AP) — James "Whitey"
Bulger's capture could cause a world of trouble inside the FBI.
Americans
spent even less in May (Washington
Post) [ Yeah … unless you work in or for the u.s. government, you’re
constrained by the fundamental precept that ‘you can’t spend what you don’t
have’; that is, of course, unless you’ve taken the various administrations’
encouragements to heart and like them, done exactly that, and to the nation’s
substantial detriment at that. Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [
How ‘bout both! I mean, come on! This catering to fraudulent wall street was a
loser ab initio! That so-called ‘wealth effect’ market froth was used
previously by senile ‘maestro’ greenspan and failed miserably except for the
frauds on wall street who commissioned up and down; and, make no mistake, those
computer-programmed high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ] In his June 7
speech, Fed Chairman Ben Bernanke stated, “the best way for the Federal Reserve
to support the fundamental value of the dollar in the medium term is to pursue
our dual mandate of maximum employment and price stability, and we will
certainly do that.”
It is instructive to
take a look at the actual Federal Reserve goals, as well Bernanke’s results in
pursuing those goals.
Goals of Monetary
Policy
“The goals of monetary
policy are spelled out in the Federal Reserve Act, which specifies that the
Board of Governors and the Federal Open Market Committee should seek ‘to
promote effectively the goals of maximum employment, stable prices, and
moderate long-term interest rates’. Stable prices in the long run are a
precondition for maximum sustainable output growth and employment as well as
moderate long-term interest rates.
When prices are stable
and believed likely to remain so, the prices of goods, services, materials, and
labor are undistorted by inflation and serve as clearer signals and guides to
the efficient allocation of resources and thus contribute to higher standards
of living. Moreover, stable prices foster saving and capital formation, because
when the risk of erosion of asset values resulting from inflation—and the need
to guard against such losses—are minimized, households are encouraged to save
more and businesses are encouraged to invest more.”
Let’s look at the
results of Bernanke’s economic “fine tuning” (using data from the St. Louis
Fed’s database, starting in February, 2006, through April 2011), and see if he
has successfully pursued this mandate.
Definition of STABLE (from the Mirriam-Webster dictionary)
a :
firmly established : fixed, steadfast <stable opinions>
b :
not changing or fluctuating :
unvarying
<in stable condition>
c :
permanent, enduring <stable civilizations>
Stable Prices?
Stable prices are one of
the Fed’s primary mandates. In the table below, take a look at what has
happened to the prices of items in a typical U.S. consumer’s budget since Ben
took the reins:
Feb ’06 – April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
It is easy to play with
the weightings of the above prices, and see how individual budgets would be
impacted. Regardless of the method used to look at prices, it is clear
that Bernanke has not been successful at maintaining price stability since
taking over as Fed Chairman. Mandate not accomplished.
Maximum or Full
Employment
Finding a strict
definition of maximum employment is impossible. Many economist give
different estimates, ranging from 2%-7%. The standard unemployment rate
most often used by the Fed is currently at 9.1%, up 90% since Bernanke
started. The more inclusive (realistic) U6 number stands at 15.8%, up 75%
in the same period. The Civilian Participation Rate has declined 2.87% to
64.2%.
This is the lowest level
the U.S. has seen since March, 1984. The decline amounts to 8,946,844
fewer Americans in the labor force. Had they not dropped out because of a
lack of jobs, the “official” unemployment rate would be significantly
higher. While we can debate the meaning of the term maximum employment,
it is clear that the jobs data has deteriorated considerably since Bernanke
took the reins at the Fed. Mandate not accomplished.
Moderate Interest
Rates
While not stated in
Bernanke’s recent address, the Fed’s website also posts “moderate interest
rates” as a stated goal. While we cannot definitively say what
constitutes “moderate”, we do know that both short and long-term interest rates
are near all time lows. It is safe to assume that near record low rates
are not “moderate”. Further, when interest rates are artificially
held below the rate of economic growth,” financial repression” is
occurring. Many bright folks have commented on how the zero interest rate
policy (ZIRP) is destructive to savers and misallocates resources. It is
safe to say that this mandate has not been accomplished.
In conclusion, it is
evident that Ben Bernanke is failing his mandates. We believe it must
come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding.
We will leave it up to
our readers to make their own conclusions.
Matt Marcewicz
& Robert Barone, Ph.D.
Matthew Marcewicz
and Robert Barone are investment advisor representatives with Ancora West
Advisors LLC, Reno, Nev. ‘
Inflation Expectations Are Heating Up
Market Crash 6/30/11?Technical
indicators suggest market collapse may begin by June 30th Dennis Slothower is
one of the world’s leading technical analysts. He’s one of the few advisors
whose readers completely avoided ALL losses during the disaster that was 2008.
And now he’s issuing another dire warning. His technical indicators suggest
that the market manipulation we’ve seen over the last several months is about
to come to an end…and that means thousands of investors are about to get
clobbered. This correction could begin as soon as June
30th– so it’s important that you take action now to prepare yourself.
StealthStocksOnline.com
Economy in Danger of Full Stall
Wall St up again on Greece, but investors skittish - NEW YORK (Reuters) - U.S. stocks rose for a
second day on Tuesday on optimism that a solution to Greece's debt crisis was
near, although low volume indicated underlying nervousness in the market.
Technicals Knew what Bernanke Didn't: Stocks will Tank! But How
Much?
Greece
Puts on the Red Light, Sells its Assets to the Night at Minyanville
‘ Is Meredith
Whitney’s “I told you so” moment approaching?
Moody’s just lowered Connecticut’s general obligation
rating to negative from stable citing among other things “depleted reserves
with slim prospects for near-term replenishment.”
From Moody’s:
The state has
approximately $14 billion in outstanding general obligation bonds…The negative
outlook reflects Connecticut’s depleted reserves with slim prospects for
near-term replenishment; pension funded ratios that are among the lowest in the
country and likely to remain well below average; and high combined fixed costs
for debt service and post employment benefits relative to the state’s budget.
In the absence of a clearly articulated plan to achieve meaningful improvement
in the state’s pension funded ratios and reduce its fixed costs, as well as
progress toward adequate reserve levels, Connecticut’s rating could be
downgraded.
The news comes just a
day after it was revealed that its tri-state neighbor New Jersey is seeking a
$2.25 billion bridge loan from JPMorgan Chase. The Garden State has decided to take a bank
loan instead of issuing bonds because the later would require more time to
raise the necessary amount of cash to pay its bills.
Whitney, the analyst who
has been sharply criticized for her prediction of widespread municipal defaults
this year, was on CNBC this morning
discussing the bridge loan. From the interview:
“I wouldn’t read too
much into this one financing. It could be business as usual. That’s not the
issue,” Whitney said in a live interview. “New Jersey’s fiscal woes are far
bigger than them accessing a line of credit or a new loan.”
Rather, she said these
types of moves will be mere warning shots as states approve their spending
plans for the fiscal year ahead—running from July 1 to June 30—and balance
those budgets by cutting local aid.
“That’s what’s really
going to hurt. So the pain of the states is just upon us,” said Whitney, famous
for her warning about Citigroup‘s exposure to subprime loans back in 2007, a call
that would foretell the ensuing financial crisis. “What you’ll see now is as
the states are submitting final budgets, you’ll see the real pain at the
municipal level start happening July 1. That will intensify and that’s where
you’ll see the fallout.”
Whitney said last year
that she expects hundreds of billions in defaults on municipal bonds in the
next five years.’
Meredith Whitney: GIRD YOUR LOINS ‘New Jersey’s move to take
out a short-term $2.25 billion loan to pay its bills is symbolic of how
difficult state and municipal financing will be in the year ahead, analyst
Meredith Whitney told CNBC Tuesday…she said these types of moves will be mere
warning shots as states approve their spending plans for the fiscal year
ahead—running from July 1 to June 30—and balance those budgets by cutting local
aid. “That’s what’s really going to hurt. So the pain of the states is just
upon us,” said Whitney. “What you’ll see now is as the states are submitting
final budgets, you’ll see the real pain at the municipal level start happening
July 1. That will intensify and that’s where you’ll see the
fallout.”"That’s what’s really going to hurt. So the pain of the states is
just upon us,” said Whitney. “What you’ll see now is as the states are submitting
final budgets, you’ll see the real pain at the municipal level start happening
July 1. That will intensify and that’s where you’ll see the fallout.” [CNBC]’
Metro home prices hit lowest level since
1993 Home prices in metro Detroit fell at an annual rate of 7.5%
through April, to a level not seen since June 1993, according to the Standard
& Poor's/Case-Shiller home-price index for April released Tuesday.
Meet The
IMF’s New Leader, Christine Lagarde NPR
| France’s finance minister secured the top job at the IMF.
Can The Fed
Stop Quantitative Easing? Paul
Craig Roberts | If the Fed stops QE, confidence in the US
dollar would rise.
National / World
Banging
the Drums of War: Iran and the Neo-cons Robert Bonomo | All the usual suspects that hyped a war
in Iraq which was started on false precepts and lies.
Pragmatism
may define Gates’s legacy Defense secretary may not be remembered for any
grand ideas but for his stewardship of two wars. (Washington Post) [ What?
What’s this? What parallel universe is this that talks of gates’ pragmatism.
Legacy? What legacy? More contrived, needless war? More defacto bankruptcy and
depletion of treasury for this and other nations? For those who think there’s strategic
thinking behind these global blunders I say ‘wake up’ … look around you … smell
the dead roses! Not that panetta is any
better having turned this nation into but a piñata much like the failed
predispositions which have brought down his home state (pelosi’s, feinstein’s
anyone?). Unless measured in terms of increased heroin trade in Afghanistan, an
increased cia / Hegelian approach to global matters leading ineluctably to new
self-created needs for actions to dispel the ever increasing new problems
resulting from their misguided acts, his tenure must be considered as much a
failure as the failed presidents he’s served so dutifully; and, expect worse
from piñata-man panetta. Like a psychotic serial arsonist employed in a fire
department, creating the very devastating fires they’re called upon to put out,
these appointees are lose – lose scenarios for everyone.
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Kick
the can (Washington Post) [ I totally agree with Mr. Robinson; namely, they
all need a kick in the can … you know, that ‘washington establishment’ that
have failed all so miserably. Well, I know that’s not what he really meant.
But, ‘do no harm’? Methinks it’s too little, too late no matter what they do to
avoid that! Market Crash 6/30/11?Technical indicators suggest market collapse may
begin by June 30th Dennis Slothower is one of the world’s leading technical
analysts. He’s one of the few advisors whose readers completely avoided ALL
losses during the disaster that was 2008. And now he’s issuing another dire
warning. His technical indicators suggest that the market manipulation we’ve
seen over the last several months is about to come to an end…and that means
thousands of investors are about to get clobbered. This correction could begin
as soon as June 30th– so it’s important that
you take action now to prepare yourself. StealthStocksOnline.com
JFK {Platoon
, Wall Street , Natural Born Killers , W. , Wall Street: Money Never Sleeps } [And yes; I also believe there’s been a coup d’etat in
pervasively corrupt, defacto bankrupt, banana republic america, gunboat
diplomacy, plundering the treasury, and all! ] [I saw ‘JFK’ for the first time today and
must say, though preoccupied at the time (1992) with other things (RICO and
consequent substantial pressure from various nefarious elements, mob,
mob-connected / controlled, corrupt government-state,local,federal, etc.. ) I
was ‘hoodwinked’ by mainstream media critics who for the most’ ho-hummed’ the
film as more of the same conspiracy stuff the factual basis for which I was
already familiar with; and hence, disinclined to make any significant effort to
view same. Boy, were they and derivatively I wrong! I am totally astounded by
the insightful documentation in this film, so masterfully presented in
cinematic form. If at all, Stone seemed shy about presenting even reasonable
inferences from facts so strictly set forth. By leading with actual speech
footage from who I believe to have been america’s last great president /
leader, the substantially underrated President General Eisenhower who warned of
the dangers inherent to the military / industrial complex, Stone set the tone
for what I believe to have been the most courageous and significant warning of
the current national and global crises confronting the nation and world today
and the reasons therefore (his negative exposés of wall street, inherent american
criminality, W, etc., complement and support his theme while revealing his wide
range, wisdom, and talent). (I must say that I liked Ronald Reagan, as I’ve
previously said I like Robert Redford, as being very likeable guys - I’m also
conservative, but not to a fault – his rational approach and results with
Gorbachev were his most significant accomplishments. Parenthetically and
coincidentally, I also saw for the first time this same day, Reagan in ‘Bedtime
for Bonzo’; and, I was shocked that it was better than I could have possibly
imagined and hardly the stuff warranting the mocking he got for same on the
political trail … do you think it was just a foreboding of the nation’s current
predicament with ‘wobama the b’ (for b***s***); and yes, I do have that
‘birther wobama family portrait’ on my website front page http://albertpeia.com . In sum, the inherently criminal behaviors
of americans as depicted are all too real and an auspicious sign indicative of
corruption across the board and through all levels of u.s. government. In light
thereof, I’m compelled to wonder as previously set forth and infra, whether my
trust in and affinity for the FBI will have been ultimately proven to have been
contraindicated in fact and reality; and hence, as I ponder, a maladaptive
personal trait / flaw. Stated another way, should having then done the deal
with the mob for the money despite personal ethics and oath militating against
same have been the correct choice in pervasively corrupt america. It certainly
up to this point would have been the most expedient, efficacious, and adaptive
choice in pervasively corrupt, inherently criminal america. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
Year |
Film |
Academy Award Nominations |
Academy Award Wins |
Golden Globe Nominations |
Golden Globe Wins |
BAFTA Nominations |
BAFTA Wins |
1974 |
|
|
|
|
|
|
|
1981 |
|
|
|
|
|
|
|
1986 |
2 |
|
|
|
|
|
|
1986 |
8 |
4 |
4 |
3 |
3 |
2 |
|
1987 |
1 |
1 |
1 |
1 |
|
|
|
1988 |
|
|
|
|
|
|
|
1989 |
8 |
2 |
5 |
4 |
2 |
|
|
1991 |
|
|
|
|
|
|
|
1991 |
8 |
2 |
4 |
1 |
2 |
2 |
|
1993 |
|
|
1 |
1 |
|
|
|
1994 |
|
|
1 |
|
|
|
|
1995 |
4 |
|
1 |
|
1 |
|
|
1997 |
|
|
|
|
|
|
|
1999 |
|
|
|
|
|
|
|
2003 |
|
|
|
|
|
|
|
2004 |
|
|
|
|
|
|
|
2006 |
|
|
|
|
|
|
|
2008 |
|
|
|
|
|
|
|
2009 |
|
|
|
|
|
|
|
2010 |
|
|
1 |
|
|
|
|
2012 |
|
|
|
|
|
|
|
Total |
31 |
9 |
17 |
9 |
8 |
4 |
October
15, 2010 (*see infra {ultimately delivered by UPS})
Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom
autorun disk (which will open in your computer’s browser) as per your office’s
request as made this day (the disk and contents have been scanned by Avast,
McAfee, and Norton which I’ve installed on my computer to prevent viral attacks
/ infection and are without threat). I also include 1 copy of the DVD as filed
with the subject court as referenced therein (which files are also included on
the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil)
RICO action (as you’re aware, the RICO Act is a criminal statute which provides
a civil remedy, including treble damages and attorney fees, as an incentive for
private prosecution of said claims probably owing to the fact that the USDOJ
seems somewhat overwhelmed and in need of such assistance given the seriousness
and prevalence of said violations of law which have a corrupting influence on
the process, and which corruption is pervasive). A grievance complaint against
Coan was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the
horizontal rule are the referenced documents as filed. (Owing to the damage to
the financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I would absent
resolution seek to refer the within to a firm with expertise in that area of
the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty
of Perjury at Their Request (5 pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman
by way of email attachment (apparent but typical problem with my mail) along
with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm .
With regard to the calls to the FBI’s LA and New Haven, CT offices:
There was one call to the LA office and I was referred to the Long Beach, CA
office where I personally met with FBI Agent Jeff Hayes to whom I gave
probative evidentiary documents of the money laundering which he confirmed as
indicative of same (he was transferred from said office within approximately a
month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch for
in excess of a decade until he abruptly retired (our last conversation prior to
his retirement related to the case and parenthetically, Rudy Giuliani whose
father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said
correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth
in the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).
----------
*The foregoing and as indicated therein was
previously send 9-14-10 but delivery confirmation was flawed as set forth below
and my inquiries to the u.s. postal service rebuffed (I believe tampered with
inasmuch as your office could not locate same). This cover letter (9-13-10) is
on the 3 disks with navigable hyperlinks to the subject files for ease of
reference, including the files in the RICO action as indicated. (10-15-10) I
spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office
has not received the aforesaid and which can reasonably be presumed to have
been tampered with, and hence, a violation of the federal statute concerning
same. (Ultimately delivered by UPS) ]
FBI
trouble after Bulger’s capture? The
crime boss is said to have boasted of corrupting agents. If he talks, some
could live to regret it. (Washington Post) [ Wow! I knew the northeast
generally, jersey / new york particularly in terms of mob infestation /
infiltration / control, and the unique status of virginia in terms of
government (cia / military, all three branches in support thereof) involvement
in the illegal drug trade, etc., connecticut and california derivatively thereby;
but I’m now wondering about the stonewalling across the board regarding the
RICO matters [ I personally trust the FBI, and to be truthful, really have no
choice but to do so; moreover, I personally like the FBI … I hope that’s not
been a mistake and ultimately a personal flaw, respectively, since it is the
liars (sic lawyers, ie., in the DOJ, etc.) who’ve been invariably the
corrupting, corrupt, corruptible agents, including judicially and otherwise ].
: http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm . Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality http://albertpeia.com/grimreality.htm Mob
boss brought back to Boston; will he sing? DENISE LAVOIE BOSTON (AP) — James "Whitey"
Bulger's capture could cause a world of trouble inside the FBI.
The
ruthless Boston crime boss who spent 16 years on the lam is said to have
boasted that he corrupted six FBI agents and more than 20 police officers. If
he decides to talk, some of them could rue the day he was caught.
"They
are holding their breath, wondering what he could say," said Robert
Fitzpatrick, the former second-in-command of the Boston FBI office.
The
81-year-old gangster was captured Wednesday in Santa Monica, Calif., where he
apparently had been living for most of the time he was a fugitive. He appeared
Friday afternoon inside a heavily guarded federal courthouse in Boston to
answer for his role in 19 murders.
Bulger,
wearing jeans and a white shirt, looked tan and fit and walked with a slight
hunch at back-to-back hearings on two indictments. He asked that a public
defender be appointed to represent him, but the government objected, citing the
$800,000 seized from his Southern California apartment and his "family
resources."
"We
think he has access to more cash," said prosecutor Brian Kelly.
At the
second hearing, Bulger took a swipe at prosecutors after Magistrate Judge
Marianne Bowler asked him if he could afford to pay for an attorney.
"Well,
I could, if they would give me my money back," he replied in his
unmistakable Boston accent, prompting laughter in the courtroom.
Kelly
implied that Bulger's cash came from illegal activities.
"He
clearly didn't make that on a paper route on Santa Monica Boulevard," he
said.
Prosecutors
asked that Bulger be held without bail, saying he is danger to the community
and may try to threaten witnesses.
"He's
also, quite obviously, a risk of flight," Kelly said.
Kelly also
said Catherine Greig, Bulger's longtime girlfriend who was arrested with him,
told court officials that Bulger's brother may be willing to assist him in
posting bail.
Bulger did
not ask for a detention hearing, but his lawyer said he may later make an
argument that Bulger should be released on bail while awaiting trial.
The amount
of money found in Bulger's apartment confirmed a longheld belief by
investigators that he kept large stashes of cash for a life on the run.
"We
clearly don't think this is his last stash," Kelly said.
When
Bulger walked into the courtroom, he saw his brother William, the former
powerful leader of the state Senate, seated in the second row. Whitey Bulger
smiled at him and mouthed, "Hi." His brother smiled back.
Greig
appeared in court a few minutes later on charges of harboring a fugitive. She
asked for a hearing to determine whether she can be released on bail, and one
was scheduled for next week.
Bulger,
the former boss of the Winter Hill Gang, Boston's Irish mob, embroiled the FBI
in scandal after he disappeared in 1995. It turned out that Bulger had been an
FBI informant for two decades, feeding the bureau information on the rival New
England Mafia, and that he fled after a retired Boston FBI agent tipped him off
that he was about to be indicted.
The
retired agent, John Connolly Jr., was sent to prison for protecting Bulger. The
FBI depicted Connolly as a rogue agent, but Bulger associates described more
widespread corruption in testimony at Connolly's trial and in lawsuits filed by
the families of people allegedly killed by Bulger and his gang.
Kevin
Weeks, Bulger's right-hand man, said the crime lord stuffed envelopes with cash
for law enforcement officers at holiday time. "He used to say that
Christmas was for cops and kids," Weeks testified.
After a
series of hearings in the late 1990s, U.S. District Judge Mark Wolf found that
more than a dozen FBI agents had broken the law or violated FBI regulations.
Among them
was Connolly's former supervisor, John Morris, who admitted he took about
$7,000 in bribes and a case of expensive wine from Bulger and henchman Stephen
"The Rifleman" Flemmi. Morris testified under a grant of immunity.
In
addition, Richard Schneiderhan, a former Massachusetts state police lieutenant,
was convicted of obstruction of justice and conspiracy for warning a Bulger
associate that the FBI had wiretapped the phones of Bulger's brothers.
Edward J.
MacKenzie Jr., a former drug dealer and enforcer for Bulger, predicted that
Bulger will disclose new details about FBI corruption and how agents protected
him for so long.
"Whitey
was no fool. He knew he would get caught. I think he'll have more fun pulling
all those skeletons out of the closet," MacKenzie said. "I think
he'll start talking and he'll start taking people down."
A
spokesman for the Boston FBI did not return calls seeking comment. In the past,
the agency has said that a new generation of agents has replaced most or all of
the agents who worked in the Boston office while Bulger was an informant.
A law
enforcement official who requested anonymity because of the ongoing
investigation told The Associated Press on Friday that FBI agents lured Bulger
out of his., apartment earlier this week by telling him someone had broken into
his on-site storage unit. The official said Bulger walked out of the apartment,
was arrested without incident and consented to a search of the premises.
Some law
enforcement officials said they doubt Bulger will try to cut a deal with
prosecutors by exposing corruption, in part because he will almost certainly be
asked to reveal what contact he had with his brothers while he was a fugitive
and whether they helped him in any way.
"If
Bulger talks, he would have to talk about his brothers, and I can't see that
happening, said retired state police Detective Lt. Bob Long, who investigated
Bulger in the 1970s and '80s."They are not going to take selective
information from him — it's either full and complete cooperation or nothing."
Criminal
defense attorney and former Drug Enforcement Administration agent Raymond
Mansolillo said Bulger may not have any incentive to talk. "The FBI may
say, 'You're going to jail or you're going to be killed. We're not offering you
anything,'" said Mansolillo, who once represented New England crime figure
Luigi "Baby Shacks" Manocchio.
But
retired Massachusetts state police Maj. Tom Duffy, one of the lead
investigators in the Bulger case, said Bulger may agree to talk if he thinks it
could help his girlfriend.
"It's
very possible he's concerned about her well-being — she was with him for 16
years and was very loyal to him," Duffy said. "That may be a
bargaining chip for the government during negotiations."
The
question of whether Bulger will be given a public defender will be decided
later. A hearing was scheduled for Tuesday. He did not enter a plea.
Bulger is
"looking forward to facing the charges against him," said Peter
Krupp, a lawyer assigned to represent Bulger for purposes of Friday's hearing
only.
Among the
onlookers at the courthouse was Margaret Chaberek, who grew up in Bulger's home
turf of South Boston. "I'm here to see him get what he deserves," she
said.
Ina
Corcoran of suburban Braintree came on her day off to witness a piece of
history and sat on a bench outside the fifth-floor courtroom, saying it was
like being there to see Al Capone.
"If
you could go back in time to be in that courtroom, wouldn't you?" she
said.
___
Associated
Press writers Johanna Kaiser, Laura Crimaldi in Providence, R.I., Curt Anderson
in Miami and Greg Risling in Los Angeles contributed to this report.’
President
enters the debt talks Obama hosts sitdowns as leaders remain divided over
spending reductions and tax increases. (Washington Post) [ Oooooh! The big gun
has arrived, with the biggest gun, Mr. Teleprompter just a hot line away. Come
on! Let’s get real! What does wobama the b (for b***s***) know that any of these
other fellow nincompoops don’t; particularly about economics / finance, even
compared to ‘Lobotomy Joe’. Market Crash 6/30/11?Technical indicators suggest
market collapse may begin by June 30th Dennis Slothower is one of the world’s
leading technical analysts. He’s one of the few advisors whose readers
completely avoided ALL losses during the disaster that was 2008. And now he’s
issuing another dire warning. His technical indicators suggest that the market
manipulation we’ve seen over the last several months is about to come to an
end…and that means thousands of investors are about to get clobbered. This
correction could begin as soon as June 30th– so
it’s important that you take action now to prepare yourself.
StealthStocksOnline.com [
Oooooh! Bring in the big guns; viz., ‘wobama the b’ (for b***s***) … sounds
like a plan! After all, ultimately it’s Mr. Teleprompter who’ll have the final
say; and, it seems like wobama’s got a lock on that ‘relationship with Mr. T;
you know, ‘pecking order’ kinds of stuff … Then begs the question: Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile
‘maestro’ greenspan and failed miserably except for the frauds on wall street
who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ] In his June 7 speech, Fed Chairman Ben Bernanke
stated, “the best way for the Federal Reserve to support the fundamental value
of the dollar in the medium term is to pursue our dual mandate of maximum
employment and price stability, and we will certainly do that.”
It is instructive to
take a look at the actual Federal Reserve goals, as well Bernanke’s results in
pursuing those goals.
Goals of Monetary
Policy
“The goals of monetary
policy are spelled out in the Federal Reserve Act, which specifies that the
Board of Governors and the Federal Open Market Committee should seek ‘to
promote effectively the goals of maximum employment, stable prices, and
moderate long-term interest rates’. Stable prices in the long run are a
precondition for maximum sustainable output growth and employment as well as
moderate long-term interest rates.
When prices are stable
and believed likely to remain so, the prices of goods, services, materials, and
labor are undistorted by inflation and serve as clearer signals and guides to
the efficient allocation of resources and thus contribute to higher standards
of living. Moreover, stable prices foster saving and capital formation, because
when the risk of erosion of asset values resulting from inflation—and the need to
guard against such losses—are minimized, households are encouraged to save more
and businesses are encouraged to invest more.”
Let’s look at the
results of Bernanke’s economic “fine tuning” (using data from the St. Louis
Fed’s database, starting in February, 2006, through April 2011), and see if he
has successfully pursued this mandate.
Definition of STABLE (from the
Mirriam-Webster
dictionary)
a : firmly established : fixed, steadfast <stable opinions>
b : not changing or fluctuating : unvarying <in
stable condition>
c : permanent, enduring <stable civilizations>
Stable Prices?
Stable prices are one of
the Fed’s primary mandates. In the table below, take a look at what has happened
to the prices of items in a typical U.S. consumer’s budget since Ben took the
reins:
Feb ’06 – April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
…’
Greece:
Possibility of a Military Coup?
cryptogon | “… You could see a military coup. We’re talking controlled order here
and it has happened before in ‘74.”
Market Crash 6/30/11?Technical
indicators suggest market collapse may begin by June 30th Dennis Slothower is
one of the world’s leading technical analysts. He’s one of the few advisors
whose readers completely avoided ALL losses during the disaster that was 2008.
And now he’s issuing another dire warning. His technical indicators suggest
that the market manipulation we’ve seen over the last several months is about
to come to an end…and that means thousands of investors are about to get
clobbered. This correction could begin as soon as June
30th– so it’s important that you take action now to prepare yourself.
StealthStocksOnline.com http://www.stealthstocksonline.com/index.aspx?
Cracks beneath the facade
Phil’s Favorites |
Repercussions from a Greek default become more significant when considering
leverage and derivatives.
Greek rebel
lawmakers may block austerity Reuters
| Conservative opposition rejected on Sunday appeals from the government and
senior European Union politicians to do its duty and support the medium-term
plan.
Spain’s
‘indignant’ launch new protest march AFP
| Spain’s “indignant” activists began their last and longest protest march on
Saturday.
Regulators shut small Georgia bank; 48th in 2011
Stocks
Cut Losses On Greek Deal Pipe Dream at
Forbes Steve Schaefer ‘A Reuters
report
Thursday afternoon said Greece has reached a deal with the European Union and
the International Monetary Fund on a new five-year austerity program, helping
Wall Street shed the bulk of its heavy losses Thursday afternoon, even though
such an agreement means little in the face of contentious debate within the
Greek government.
While a deal with the EU
and IMF on austerity clears the path for Greece to continue receiving the bailout
loans that are allowing it to meet its funding needs, there is still a huge
hurdle to clear in getting the deal through Greece’s Parliament, no small task.
After all, in just the past week Greek Prime Minister George Papandreou has had
to reorganize
his cabinet and face a confidence vote (which
he survived).
(Update: Reuters reports
that Papandreou has his doubts about whether the draft legislation will pass
muster and opposition leader Antonis Samaras has maintained his refusal to
bless the plan.)
Thursday morning,
Barclays Capital head of research Larry Kantor said he expects an eventual
Greek restructuring in 2012. In the near-term, BarCap figures enough will be
done to kick the can down the road and allow for some recapitalization of the
European banking system. That of course depends on some austerity being passed,
which Kantor said “is far from assured, though we think it will happen.” And
even once such a package is passed it only buys time. Actually fixing the
fiscal condition of Greece is not something that can be solved in a matter of
weeks, or even months.
Thursday afternoon’s
report may just be the latest noise on the inexorable path toward restructuring
– after all, we have been talking about Greek debt for more than a year at this
point and have yet to see anything resembling a long-term solution (See “Why
Euro Debt Matters”) – but that didn’t stop investors to take the
opportunity to snap up battered stocks that had been languishing for much of
the session.
By the close the major
indexes were well off their lows, with the Nasdaq popping into positive
territory, up 18 points to 2,687, the Dow Jones industrial average down just 60
points at 12,050 and the S&P 500 off 4 points at 1,284. Earlier, the Dow
had lost more than 200 points.
Thursday’s earlier slide
was driven in part by the Obama Administration’s decision to tap the U.S.
Strategic Petroleum Reserve for some 30 million barrels of crude oil, as part
of a move by the International Energy Administration to stem the impact of the
production lost from Libya this year. That move hindered energy stocks, with
Exxon Mobil and Chevron the two biggest losers on the Dow as crude dropped to
$91.82 a barrel.
Meanwhile, talks over
the U.S. debt ceiling involving Vice President Biden collapsed
Thursday, with lawmakers calling for President Obama to take a more central
role in the negotiations.’
Federal Reserve
Secrets and Lies USA Watchdog
| The Federal Reserve has been a clandestine organization since its inception.
Spanish
Banks Hiding Over $70 Billion In Bad Real Estate Zero Hedge | All in a day’s work for
the Ponz.
CEO
pay vs. worker pay Corporations line up to block rules that would force
companies to disclose comparison data. (Washington Post) [ One thing’s been
glaringly true for quite some time: american ceo’s have been vastly overpaid
for what’s been clearly underperformance. Indeed, strategic thinking span’s
little more than the year-end bonus cycle, a predisposition not lost on
fraudulent wall street (exceptions are rare, ie., previously, past tense, Steve
Jobs/Apple, Jack Welch/GE, among a few others, worth every penny and more).
But, compared to their foreign counterparts, the only conclusion is that u.s.
ceo’s seem to excel in only one area; viz., how to get themselves paid. Results
count. What is, counts. What happened, counts. Pretending is no longer an
option. Reality counts! Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street
accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality http://albertpeia.com/grimreality.htm The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! Technology rally? Defacto bankrupt
american technology is horrendous but great sizzle for the new fraud as in the
dotcom bust days. Then there’s the greasy b.s. new greecy b.s. factor. The rally into the close and
the previous so-called (4 day) ‘rally’ was based on b***s*** alone to keep the
suckers suckered and for ‘smarter money ‘ along with the frauds to sell into.
This is an especially great opportunity to sell / take profits while you still
can since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money--
Cracks beneath the facade
Phil’s Favorites |
Repercussions from a Greek default become more significant when considering
leverage and derivatives.
National / World
Obama
to step in on debt talks As
Biden-led talks break down, president plans to meet with key lawmakers next
week. (Washington Post) [ Oooooh! Bring
in the big guns; viz., ‘wobama the b’ (for b***s***) … sounds like a plan!
After all, ultimately it’s Mr. Teleprompter who’ll have the final say; and, it
seems like wobama’s got a lock on that ‘relationship with Mr. T; you know,
‘pecking order’ kinds of stuff … Then begs the question: Is
Bernanke Failing His Fed Mission Or Just Delusional? at Forbes Robert Barone [ How ‘bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio!
That so-called ‘wealth effect’ market froth was used previously by senile
‘maestro’ greenspan and failed miserably except for the frauds on wall street
who commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for
nation-economy-draining profits for the frauds like never before and have never
been higher. The QE and dollar-debasement policies were always predictably
inflationary, ultimately hyperinflationary, particularly for stocks; that ‘feel
good’ obfuscation that was but in reality good only for the frauds on wall
street. No, there is no modern day alchemy that spins worthless paper into gold
except fraudulently for the frauds on wall street who’ve literally oftimes done
exactly that; ‘cashing out’ for hard currency and gold, precious metals, at
everyone else’s expense including main street. ] In his June 7 speech, Fed Chairman Ben Bernanke
stated, “the best way for the Federal Reserve to support the fundamental value
of the dollar in the medium term is to pursue our dual mandate of maximum
employment and price stability, and we will certainly do that.”
It is instructive to
take a look at the actual Federal Reserve goals, as well Bernanke’s results in
pursuing those goals.
Goals of Monetary
Policy
“The goals of monetary
policy are spelled out in the Federal Reserve Act, which specifies that the
Board of Governors and the Federal Open Market Committee should seek ‘to
promote effectively the goals of maximum employment, stable prices, and
moderate long-term interest rates’. Stable prices in the long run are a
precondition for maximum sustainable output growth and employment as well as
moderate long-term interest rates.
When prices are stable
and believed likely to remain so, the prices of goods, services, materials, and
labor are undistorted by inflation and serve as clearer signals and guides to
the efficient allocation of resources and thus contribute to higher standards
of living. Moreover, stable prices foster saving and capital formation, because
when the risk of erosion of asset values resulting from inflation—and the need
to guard against such losses—are minimized, households are encouraged to save
more and businesses are encouraged to invest more.”
Let’s look at the
results of Bernanke’s economic “fine tuning” (using data from the St. Louis
Fed’s database, starting in February, 2006, through April 2011), and see if he
has successfully pursued this mandate.
Definition of STABLE (from the
Mirriam-Webster
dictionary)
a : firmly established : fixed, steadfast <stable opinions>
b : not changing or fluctuating : unvarying <in
stable condition>
c : permanent, enduring <stable civilizations>
Stable Prices?
Stable prices are one of
the Fed’s primary mandates. In the table below, take a look at what has
happened to the prices of items in a typical U.S. consumer’s budget since Ben
took the reins:
Feb ’06 – April ’11
Items in a Typical Budget |
% Change |
Food and Beverages |
16.54% |
Water and sewer and trash collection services |
31.88% |
Rent of primary residence |
13.82% |
Housing |
8.68% |
Fuels and Utilities |
11.93% |
Apparel |
4.83% |
Medical Care |
20.11% |
Gasoline (all types) |
65.12% |
Transportation |
23.36% |
Tuition, other school fees, and childcare |
29.28% |
Recreation |
2.87% |
It is easy to play with
the weightings of the above prices, and see how individual budgets would be
impacted. Regardless of the method used to look at prices, it is clear
that Bernanke has not been successful at maintaining price stability since
taking over as Fed Chairman. Mandate not accomplished.
Maximum or Full
Employment
Finding a strict
definition of maximum employment is impossible. Many economist give different
estimates, ranging from 2%-7%. The standard unemployment rate most often
used by the Fed is currently at 9.1%, up 90% since Bernanke started. The
more inclusive (realistic) U6 number stands at 15.8%, up 75% in the same
period. The Civilian Participation Rate has declined 2.87% to 64.2%.
This is the lowest level
the U.S. has seen since March, 1984. The decline amounts to 8,946,844
fewer Americans in the labor force. Had they not dropped out because of a
lack of jobs, the “official” unemployment rate would be significantly
higher. While we can debate the meaning of the term maximum employment,
it is clear that the jobs data has deteriorated considerably since Bernanke
took the reins at the Fed. Mandate not accomplished.
Moderate Interest
Rates
While not stated in
Bernanke’s recent address, the Fed’s website also posts “moderate interest
rates” as a stated goal. While we cannot definitively say what
constitutes “moderate”, we do know that both short and long-term interest rates
are near all time lows. It is safe to assume that near record low rates
are not “moderate”. Further, when interest rates are artificially
held below the rate of economic growth,” financial repression” is
occurring. Many bright folks have commented on how the zero interest rate
policy (ZIRP) is destructive to savers and misallocates resources. It is
safe to say that this mandate has not been accomplished.
In conclusion, it is
evident that Ben Bernanke is failing his mandates. We believe it must
come down to one of the following reasons:
1.
Bernanke does not know how to achieve his mandates;
2.
The policy tools employed don’t work;
3.
He does not have the ability to implement policies that would work;
4.
He is not trying to achieve his mandates;
5.
He has goals other than his legal mandates;
6.
He does not look at the data, and believes he is succeeding.
We will leave it up to
our readers to make their own conclusions.
Matt Marcewicz
& Robert Barone, Ph.D.
Matthew Marcewicz and Robert Barone are investment advisor
representatives with Ancora West Advisors LLC, Reno, Nev. ‘
Milbank:
Progressives voice anger at Obama (Washington Post) [ Progressives? Is that all,
Mr. ‘wobama aficionado’, aka Mr. Milbank. How about the vast and overwhelming
majority of this nation, and add in the rest of the world to boot.
Robinson:
Why does the Afghan war go on? (Washington Post) [ Well, there’s one person
who minces no words as to why: Drudgereport: FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'... Minister
Farrakhan: “That’s A Murderer In The White House!” Minister Farrakhan
exposed the U.S. and NATO’s criminal War Libya and Africa during a June 15,
2011 Press Conference at the UN Plaza Hotel. Then there are, beyond the
regional proximity to oil and an american induced resurgent poppy / heroin
production / trade (the Taliban had all but eradicated same). After all,
pervasively corrupt, defacto bankrupt america is into the illegal drug trade in
a very big way. Obama’s Drawdown Speech: More Orwellian Lies Kurt Nimmo | The U.S. government has no intention of ending the
war and bringing home all of the troops.
Obama:
Time for ‘nation building’ at home
‘Surge’
troops to be ordered home Departure
plan will remove 33,000 troops faster than Obama’s commanders requested but
more slowly than many of his political allies would like. (Washington Post) [
Well, in a certain sense he’s chronologically correct … finish the job of
destruction at home … yeah … it’s true … they haven’t the slightest idea what
they’re doing and no matter what or where, pervasively corrupt, defacto
bankrupt america’s touch is an invariably destructive, negative touch (‘nation
building’ the coy, euphemistic phrase for what is in fact ‘nation destroying’,
regardless of spin, propaganda, and outright lies). Obama’s
task: Keep support for Afghan war The president’s prime-time address on
plans to gradually withdraw troops must remind a skeptical electorate and a
concerned Congress that the country’s longest war remains worth fighting — and
funding. (Washington Post) [ Obama’s task? Support for this nation’s
self-bankrupting Afghan (among other) war(s)? Geeh! Silly me! And all the while
I thought wobama’s task was to bring to fruition all those laudable campaign
promises; viz., jobs / economy not wars, prosecution of the frauds on wall
street responsible for the crisis, etc.. What a total fraud wobama is. Obama’s
semantics draw criticism on Libya (Washington Post) [ Semantics? If it were
only wobama’s semantics that drew criticism. But, one must concede that when
fellow black Farrakhan is weighing in thusly:
Drudgereport: FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'... wobama’s really got problems (you know, that unflinchingly loyal
18%). Minister
Farrakhan: “That’s A Murderer In The White House!” Minister Farrakhan
exposed the U.S. and NATO’s criminal War Libya and Africa during a June 15,
2011 Press Conference at the UN Plaza Hotel.
(I wonder what Chinese mascot ‘the black mamba’ has to say ‘The Chinese people's love of
american basketball star Kobe Bryant’…Kobe Bryant China The
Kobe dynasty - Los Angeles TimesAug
20, 2008 ... Beijing It's Kobe's team, in China, anyway… Sprite
China: Kobe Bryant & Jay
Chou Music Video – Advertising ... Feb 23, 2011 ... Sprite China has paired up NBA Star Kobe Bryant of the LA Lakers … who has supplanted their own
’yellow / red bamba’; viz., Yao Ming.) Sen.
Conrad: $2 trillion not enough
Democratic chairman of budget committee is pushing for deeper cuts in
any debt-reduction deal. Lawmakers
fear time is running out to slice $2 trillion from the budget In six weeks,
negotiators must strike a bipartisan compromise and persuade a bitterly divided
Congress to support it. (Washington Post) [ Ah, there you have it. That
nebulous, ‘fudgeable’, over a period of time thing … ‘$4 trillion in
savings by 2021 to avoid a debt crisis. Others view $2 trillion as
impossibly ambitious...more borrowing authority for a nation already mired in
red ink.’…Some have been less than optimistic in their prognosis Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall Street
accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
House
rejects Obama’s Libya policy Lawmakers vote down a measure that would
authorize mission, but stop short of cutting funding. (Washington Post) [ Ah,
riiiiight! The worst of both worlds. ‘Cutting the baby in half’ probably their
most politically expedient solution to appeasing their respective ‘support
groups’. Though not the kind of group therapy support groups that immediately
come to mind, one laments the various elements of the pervasively corrupt u.s.
government are not receiving the kind of psychotherapy they need by way of
group therapy or otherwise. Speaking of
spending cuts, here’s one they ‘dare not do’:
House
votes down SEC budget hike Agency has been seeking a budget increase to
keep pace with its expanded responsibilities. (Washington Post) [ No surprise
here given the prior and continuing defacto complicity in wall street’s
enormous frauds. The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed! Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen america.
Indeed, the scenario typifies that national drain / sinkhole new york (new york
/ new jersey metro) where, for example, FBI informants were routinely exposed
by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and
were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this
was documented with authority in the book ‘Goombata: The Improbable Rise and
Fall of John Gotti and His Gang’ Cummings /
Volkman … Yet, one must ask what have they been doing and already getting paid
for? Roche 'The worst part of it
...Obama, who vowed change, has done almost nothing to fix any of it and
in fact continues most of the policies that helped get us here in the first
place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud ) …
I want just one person
with courage enough to stand up and explain to all that these huge
commissionable computerized trading volumes like never before are a net
negative in a very big way … that’s a fact … that’s economic reality in real
terms! … Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world combined...
fed employees / contractors, cia, all 3 branches of u.s. gov’t, etc., are
included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
JFK {Platoon
, Wall Street , Natural Born Killers , W. , Wall Street: Money Never Sleeps } [And yes; I also believe there’s been a coup d’etat in
pervasively corrupt, defacto bankrupt, banana republic america, gunboat
diplomacy, plundering the treasury, and all! ] [I saw ‘JFK’ for the first time today and
must say, though preoccupied at the time (1992) with other things (RICO and
consequent substantial pressure from various nefarious elements, mob,
mob-connected / controlled, corrupt government-state,local,federal, etc.. ) I
was ‘hoodwinked’ by mainstream media critics who for the most’ ho-hummed’ the
film as more of the same conspiracy stuff the factual basis for which I was
already familiar with; and hence, disinclined to make any significant effort to
view same. Boy, were they and derivatively I wrong! I am totally astounded by
the insightful documentation in this film, so masterfully presented in cinematic
form. If at all, Stone seemed shy about presenting even reasonable inferences
from facts so strictly set forth. By leading with actual speech footage from
who I believe to have been america’s last great president / leader, the
substantially underrated President General Eisenhower who warned of the dangers
inherent to the military / industrial complex, Stone set the tone for what I
believe to have been the most courageous and significant warning of the current
national and global crises confronting the nation and world today and the
reasons therefore (his negative exposés of wall street, inherent american
criminality, W, etc., complement and support his theme while revealing his wide
range, wisdom, and talent). (I must say that I liked Ronald Reagan, as I’ve
previously said I like Robert Redford, as being very likeable guys - I’m also
conservative, but not to a fault – his rational approach and results with
Gorbachev were his most significant accomplishments. Parenthetically and
coincidentally, I also saw for the first time this same day, Reagan in ‘Bedtime
for Bonzo’; and, I was shocked that it was better than I could have possibly
imagined and hardly the stuff warranting the mocking he got for same on the
political trail … do you think it was just a foreboding of the nation’s current
predicament with ‘wobama the b’ (for b***s***); and yes, I do have that
‘birther wobama family portrait’ on my website front page http://albertpeia.com . In sum, the inherently criminal behaviors
of americans as depicted are all too real and an auspicious sign indicative of
corruption across the board and through all levels of u.s. government. In light
thereof, I’m compelled to wonder as previously set forth and infra, whether my
trust in and affinity for the FBI will have been ultimately proven to have been
contraindicated in fact and reality; and hence, as I ponder, a maladaptive
personal trait / flaw. Stated another way, should having then done the deal
with the mob for the money despite personal ethics and oath militating against
same have been the correct choice in pervasively corrupt america. It certainly
up to this point would have been the most expedient, efficacious, and adaptive
choice in pervasively corrupt, inherently criminal america. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
Year |
Film |
Academy Award Nominations |
Academy Award Wins |
Golden Globe Nominations |
Golden Globe Wins |
BAFTA Nominations |
BAFTA Wins |
1974 |
|
|
|
|
|
|
|
1981 |
|
|
|
|
|
|
|
1986 |
2 |
|
|
|
|
|
|
1986 |
8 |
4 |
4 |
3 |
3 |
2 |
|
1987 |
1 |
1 |
1 |
1 |
|
|
|
1988 |
|
|
|
|
|
|
|
1989 |
8 |
2 |
5 |
4 |
2 |
|
|
1991 |
|
|
|
|
|
|
|
1991 |
8 |
2 |
4 |
1 |
2 |
2 |
|
1993 |
|
|
1 |
1 |
|
|
|
1994 |
|
|
1 |
|
|
|
|
1995 |
4 |
|
1 |
|
1 |
|
|
1997 |
|
|
|
|
|
|
|
1999 |
|
|
|
|
|
|
|
2003 |
|
|
|
|
|
|
|
2004 |
|
|
|
|
|
|
|
2006 |
|
|
|
|
|
|
|
2008 |
|
|
|
|
|
|
|
2009 |
|
|
|
|
|
|
|
2010 |
|
|
1 |
|
|
|
|
2012 |
|
|
|
|
|
|
|
Total |
31 |
9 |
17 |
9 |
8 |
4 |
October 15, 2010 (*see infra)
Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom
autorun disk (which will open in your computer’s browser) as per your office’s
request as made this day (the disk and contents have been scanned by Avast,
McAfee, and Norton which I’ve installed on my computer to prevent viral attacks
/ infection and are without threat). I also include 1 copy of the DVD as filed
with the subject court as referenced therein (which files are also included on
the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil)
RICO action (as you’re aware, the RICO Act is a criminal statute which provides
a civil remedy, including treble damages and attorney fees, as an incentive for
private prosecution of said claims probably owing to the fact that the USDOJ
seems somewhat overwhelmed and in need of such assistance given the seriousness
and prevalence of said violations of law which have a corrupting influence on
the process, and which corruption is pervasive). A grievance complaint against
Coan was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the
horizontal rule are the referenced documents as filed. (Owing to the damage to
the financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I
would absent resolution seek to refer the within to a firm with expertise in
that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty
of Perjury at Their Request (5 pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman
by way of email attachment (apparent but typical problem with my mail) along
with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm .
With regard to the calls to the FBI’s LA and New Haven, CT offices:
There was one call to the LA office and I was referred to the Long Beach, CA
office where I personally met with FBI Agent Jeff Hayes to whom I gave
probative evidentiary documents of the money laundering which he confirmed as
indicative of same (he was transferred from said office within approximately a
month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said
correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth
in the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).
----------
*The foregoing and as indicated therein was
previously send 9-14-10 but delivery confirmation was flawed as set forth below
and my inquiries to the u.s. postal service rebuffed (I believe tampered with
inasmuch as your office could not locate same). This cover letter (9-13-10) is
on the 3 disks with navigable hyperlinks to the subject files for ease of
reference, including the files in the RICO action as indicated. (10-15-10) I
spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office
has not received the aforesaid and which can reasonably be presumed to have
been tampered with, and hence, a violation of the federal statute concerning
same. ]
FBI
trouble after Bulger’s capture? The
crime boss is said to have boasted of corrupting agents. If he talks, some
could live to regret it. (Washington Post) [ Wow! I knew the northeast
generally, jersey / new york particularly in terms of mob infestation /
infiltration / control, and the unique status of virginia in terms of
government (cia / military, all three branches in support thereof) involvement
in the illegal drug trade, etc., connecticut and california derivatively
thereby; but I’m now wondering about the stonewalling across the board
regarding the RICO matters [ I personally trust the FBI, and to be truthful,
really have no choice but to do so; moreover, I personally like the FBI … I
hope that’s not been a mistake and ultimately a personal flaw, respectively,
since it is the liars (sic lawyers, ie., in the DOJ, etc.) who’ve been
invariably the corrupting, corrupt, corruptible agents, including judicially
and otherwise ]. : http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm . Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality http://albertpeia.com/grimreality.htm Mob
boss brought back to Boston; will he sing? DENISE LAVOIE BOSTON (AP) — James "Whitey"
Bulger's capture could cause a world of trouble inside the FBI.
The ruthless
Boston crime boss who spent 16 years on the lam is said to have boasted that he
corrupted six FBI agents and more than 20 police officers. If he decides to
talk, some of them could rue the day he was caught.
"They
are holding their breath, wondering what he could say," said Robert
Fitzpatrick, the former second-in-command of the Boston FBI office.
The
81-year-old gangster was captured Wednesday in Santa Monica, Calif., where he
apparently had been living for most of the time he was a fugitive. He appeared
Friday afternoon inside a heavily guarded federal courthouse in Boston to
answer for his role in 19 murders.
Bulger,
wearing jeans and a white shirt, looked tan and fit and walked with a slight
hunch at back-to-back hearings on two indictments. He asked that a public
defender be appointed to represent him, but the government objected, citing the
$800,000 seized from his Southern California apartment and his "family
resources."
"We
think he has access to more cash," said prosecutor Brian Kelly.
At the second
hearing, Bulger took a swipe at prosecutors after Magistrate Judge Marianne
Bowler asked him if he could afford to pay for an attorney.
"Well,
I could, if they would give me my money back," he replied in his
unmistakable Boston accent, prompting laughter in the courtroom.
Kelly
implied that Bulger's cash came from illegal activities.
"He
clearly didn't make that on a paper route on Santa Monica Boulevard," he
said.
Prosecutors
asked that Bulger be held without bail, saying he is danger to the community and
may try to threaten witnesses.
"He's
also, quite obviously, a risk of flight," Kelly said.
Kelly also
said Catherine Greig, Bulger's longtime girlfriend who was arrested with him,
told court officials that Bulger's brother may be willing to assist him in
posting bail.
Bulger did
not ask for a detention hearing, but his lawyer said he may later make an
argument that Bulger should be released on bail while awaiting trial.
The amount
of money found in Bulger's apartment confirmed a longheld belief by investigators
that he kept large stashes of cash for a life on the run.
"We
clearly don't think this is his last stash," Kelly said.
When
Bulger walked into the courtroom, he saw his brother William, the former
powerful leader of the state Senate, seated in the second row. Whitey Bulger
smiled at him and mouthed, "Hi." His brother smiled back.
Greig
appeared in court a few minutes later on charges of harboring a fugitive. She
asked for a hearing to determine whether she can be released on bail, and one
was scheduled for next week.
Bulger,
the former boss of the Winter Hill Gang, Boston's Irish mob, embroiled the FBI
in scandal after he disappeared in 1995. It turned out that Bulger had been an
FBI informant for two decades, feeding the bureau information on the rival New
England Mafia, and that he fled after a retired Boston FBI agent tipped him off
that he was about to be indicted.
The
retired agent, John Connolly Jr., was sent to prison for protecting Bulger. The
FBI depicted Connolly as a rogue agent, but Bulger associates described more
widespread corruption in testimony at Connolly's trial and in lawsuits filed by
the families of people allegedly killed by Bulger and his gang.
Kevin
Weeks, Bulger's right-hand man, said the crime lord stuffed envelopes with cash
for law enforcement officers at holiday time. "He used to say that
Christmas was for cops and kids," Weeks testified.
After a
series of hearings in the late 1990s, U.S. District Judge Mark Wolf found that
more than a dozen FBI agents had broken the law or violated FBI regulations.
Among them
was Connolly's former supervisor, John Morris, who admitted he took about
$7,000 in bribes and a case of expensive wine from Bulger and henchman Stephen
"The Rifleman" Flemmi. Morris testified under a grant of immunity.
In
addition, Richard Schneiderhan, a former Massachusetts state police lieutenant,
was convicted of obstruction of justice and conspiracy for warning a Bulger
associate that the FBI had wiretapped the phones of Bulger's brothers.
Edward J.
MacKenzie Jr., a former drug dealer and enforcer for Bulger, predicted that
Bulger will disclose new details about FBI corruption and how agents protected
him for so long.
"Whitey
was no fool. He knew he would get caught. I think he'll have more fun pulling
all those skeletons out of the closet," MacKenzie said. "I think
he'll start talking and he'll start taking people down."
A
spokesman for the Boston FBI did not return calls seeking comment. In the past,
the agency has said that a new generation of agents has replaced most or all of
the agents who worked in the Boston office while Bulger was an informant.
A law
enforcement official who requested anonymity because of the ongoing
investigation told The Associated Press on Friday that FBI agents lured Bulger
out of his., apartment earlier this week by telling him someone had broken into
his on-site storage unit. The official said Bulger walked out of the apartment,
was arrested without incident and consented to a search of the premises.
Some law
enforcement officials said they doubt Bulger will try to cut a deal with
prosecutors by exposing corruption, in part because he will almost certainly be
asked to reveal what contact he had with his brothers while he was a fugitive
and whether they helped him in any way.
"If
Bulger talks, he would have to talk about his brothers, and I can't see that
happening, said retired state police Detective Lt. Bob Long, who investigated
Bulger in the 1970s and '80s."They are not going to take selective
information from him — it's either full and complete cooperation or
nothing."
Criminal
defense attorney and former Drug Enforcement Administration agent Raymond
Mansolillo said Bulger may not have any incentive to talk. "The FBI may
say, 'You're going to jail or you're going to be killed. We're not offering you
anything,'" said Mansolillo, who once represented New England crime figure
Luigi "Baby Shacks" Manocchio.
But
retired Massachusetts state police Maj. Tom Duffy, one of the lead
investigators in the Bulger case, said Bulger may agree to talk if he thinks it
could help his girlfriend.
"It's
very possible he's concerned about her well-being — she was with him for 16
years and was very loyal to him," Duffy said. "That may be a
bargaining chip for the government during negotiations."
The
question of whether Bulger will be given a public defender will be decided
later. A hearing was scheduled for Tuesday. He did not enter a plea.
Bulger is
"looking forward to facing the charges against him," said Peter
Krupp, a lawyer assigned to represent Bulger for purposes of Friday's hearing
only.
Among the
onlookers at the courthouse was Margaret Chaberek, who grew up in Bulger's home
turf of South Boston. "I'm here to see him get what he deserves," she
said.
Ina
Corcoran of suburban Braintree came on her day off to witness a piece of
history and sat on a bench outside the fifth-floor courtroom, saying it was
like being there to see Al Capone.
"If
you could go back in time to be in that courtroom, wouldn't you?" she
said.
___
Associated
Press writers Johanna Kaiser, Laura Crimaldi in Providence, R.I., Curt Anderson
in Miami and Greg Risling in Los Angeles contributed to this report.’
Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
CHINA:
USA 'ALREADY DEFAULTING'...
DOLLAR
TO 'LOSE RESERVE STATUS'
Economy
Expected to Have Major Slide in Months Ahead...
REPORT: NATO forces ARE trying to assassinate Qaddafi...
GUILTY
IN CHICAGOLAND...
17
of 20 counts...
Tried
To Sell Obama's senate seat...
Jury
DEADLOCKED on Rahm shakedown...
Blago
to lawyer: 'What happened?'
'Stunned'...
JOBLESS
WEAK: 429,000...
...disappointed
Economic
trouble puzzles Fed chief...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
THE
NEW 'NORMAL'
GALLUP
PLUNGE...
Approval
-4, disapproval +5 -- in one day!
DOWN TO
THIRD: USA 'TO FALL BEHIND INDIA' IN TRADE...
DEM
FIX: MORE SPENDING!
Bernanke
speaks, stocks sink...
FORBES:
'Admits he's clueless'...
CBO:
Long-Term Debt Picture Worsens...
Would
reach 101% of GDP by 2021...
STUDY:
State, local gov'ts must raise taxes $1,400 a year for
30 years to fund pensions...
Millionaires
shrug off downturn; Wealthy richer than before crisis...
Zuckerman:
'We now have more idle men, women than at any time since Great Depression'...
SHOCK
POLL: ONLY 3 in 10 WILL VOTE FOR OBAMA...
66%
say US headed in 'wrong direction'...
Greece
Agrees on New Austerity Plan With EU, IMF...
ANGER
IN ATHENS...
'BLACK
HOLE'...
DEBT TALKS BREAKDOWN; TAX BUST
S&P:
Risk of U.S. credit rating downgrade increased...
Chicago
county faces $108 billion
gap in pensions....
Greek
Streets 'Explosive'...
PM wins
confidence vote 'but outlook remains dire'...
Huntsman
announces presidential bid at Statue of Liberty...
Harry
Reid endorses...
Bachmann
surges to primary lead...
Iraq
hunting $17 billion missing after U.S. invasion...
NATO
NIGHTMARE: 9 CIVILIANS KILLED [NATO strike kills 15 Libyan civilians]
Census:
Whites lose majority among babies...
German
Giant Says US Workers Lack Skills...
PAPER:
AMERICA'S LOST DECADE?
States
look to Internet taxes to close budget gaps...
SPANIARDS
ON MARCH OVER BLEAK PROSPECTS...
House will move this week to limit funding for effort in Libya...
'DON'T
BE SURPRISED IF ATHENS GOES UP IN FLAMES'...
GREEK
PM PLEADS FOR UNITY!
...warns
against default
Threat
to downgrade Italian debt raises contagion fears...
Princess
Diana Conspiracy Movie Headed to Theaters... [ Uh, oh! Time to gear
up the already harsh ‘censors’ in england.
]
Bachmann:
Obama 'has failed' blacks, Hispanics... [ Come on! ‘Wobama the b’
(for b***s*** has failed everyone. ]
Presidential
no-show miffs Hispanics...
African-American
unemployment at 16%... [ But there’s rationality in this stat as
people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then there’s
the attitude. I truly believe from direct experience that even when their
outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed. ]
SHE'S
OFF! (on the road again) Michelle Obama embarks on Africa visit … (stay there!)
...
Michelle Obama Admits: 'Fortunately, We Have Help From The Media'...
CHICAGOLAND:
Rahm's Top Cop Blames Gangs, Crime on 'Gov't-Sponsored Racism'...
Likens
federal gun laws to 'racism'...
Teen
Mob Of 50 Hits Chicago WALGREENS...
Teen
brutally beaten by mob of blacks; cops
mull 'lynching' charge...
Princess
Diana Conspiracy Movie Headed to Theaters... [ British
queen arrives in Ireland Queen Elizabeth II’s visit overshadowed by
security scares. (Washington Post) [ ‘How sweet she is’ … that ‘sweet liz’ …
that is … Diana
film causes stir at Cannes “Unlawful
Killing” has a combination of celebrity, controversy and canny hype-mongering.
(Washington Post) [ Let’s not kid
ourselves … and, Dodi Fayed’s father was no dope and knew the score. Indeed,
it’s not coincidental that William’s the over-riding favorite of granny Liz II;
after all, Harry’s the bastard son of Hewitt (don’t buy into their DNA proffer
which they did buy – you know, that ‘bloodline thing’). Moreover, it was
reported that Diana had another ‘potential challenger in the oven’ at the time
of her death and we all know how dicey such english affairs of state can be
(ie., Henry VIII, Richard III, etc.). Then there’s the contempt of Diana for
having brought the son of her bosom, Chas, down. Do I think she said flat out
‘kill Diana’. No … more of a ‘do what’s necessary’ to mi6 et als. Ultimately,
William will require some substantial
therapy to sort out this looming conflict. After all, Diana was his
mother. Drudgereport: British
woman decapitated in grocery store; killer flees with head... Cannes:
Diana doc slams UK royals as 'gangsters'... ]
Week
Ahead: Fireworks Coming Early? at
Forbes
Top
3 Reasons Markets Were Down After Tech and Gold Slumped Wall St. Cheat Sheet June 24, 2011, Markets closed down on Wall Street: Dow
-0.96% , S&P -1.17% , Nasdaq -1.26% , Oil +0.24%, Gold -1.32% .
On the commodities
front, Oil (NYSE:USO) recovered slightly, up to $91.24 a barrel after
yesterday’s $4 drop. Precious metals were down again today with Gold (NYSE:GLD) closing at $1,500.50, a drop of $23 from
yesterday, and Silver (NYSE:SLV) is down 2.36% to $34.19.
Today’s markets were
down because:
1) Tech slump. Both
Oracle (NASDAQ:ORCL) and Micron Technology (NASDAQ:MU) suffered huge
losses in the market today, weighing heavily on tech stocks. The Nasdaq
Composite, up 0.66% yesterday is down 1.16% today. Tech was also the worst
performer of the 10 sectors on the S&P 500. Blue chips were dragged down as
well by the Dow’s tech members like Microsoft (NASDAQ:MSFT), Intel (NASDAQ:INTC), and Cisco (NASDAQ:CSCO). All in all it was a terrible day for tech (NYSE:XLK).
2) Italy might be the
new Greece. Also Ireland, Portugal, and maybe Spain (NYSE:EWP). Really no one’s being left out of the party.
After Moody’s put 12
Italian government-related financial institutions on review for possible
downgrade, people are worried that it might be too late to contain Greece’s
debt woes — they may have already contaminated other borderline economies.
Spanish and Italian bond yields are up, with Spain’s 10-year bond reaching its
highest level since 2000. And Italy (NYSE:EWI) has a national debt that totals 120% of GDP, a
figure that seems unlikely to improve considering long-term structural
weaknesses and low productivity. Greece may only be the first domino to fall.
3) Positive economic
data? The latest GDP
report came out this morning and the figures were better than previous
estimations, showing durable goods rose more than expected in May after
suffering a 2.7% decline in April. But the report couldn’t have come out at a
worse time, overshadowed by today’s tech losses and renewed fears in Europe, as
well as still-low crude futures and plummeting oil-related stocks…’
Regulators
shut small Georgia bank; 48th in 2011
Stocks
Cut Losses On Greek Deal Pipe Dream at
Forbes Steve Schaefer ‘A Reuters report
Thursday afternoon said Greece has reached a deal with the European Union and
the International Monetary Fund on a new five-year austerity program, helping
Wall Street shed the bulk of its heavy losses Thursday afternoon, even though
such an agreement means little in the face of contentious debate within the
Greek government.
While a deal with the EU
and IMF on austerity clears the path for Greece to continue receiving the
bailout loans that are allowing it to meet its funding needs, there is still a
huge hurdle to clear in getting the deal through Greece’s Parliament, no small
task. After all, in just the past week Greek Prime Minister George Papandreou
has had to reorganize
his cabinet and face a confidence vote (which
he survived).
(Update: Reuters reports
that Papandreou has his doubts about whether the draft legislation will pass
muster and opposition leader Antonis Samaras has maintained his refusal to
bless the plan.)
Thursday morning,
Barclays Capital head of research Larry Kantor said he expects an eventual
Greek restructuring in 2012. In the near-term, BarCap figures enough will be
done to kick the can down the road and allow for some recapitalization of the
European banking system. That of course depends on some austerity being passed,
which Kantor said “is far from assured, though we think it will happen.” And
even once such a package is passed it only buys time. Actually fixing the
fiscal condition of Greece is not something that can be solved in a matter of
weeks, or even months.
Thursday afternoon’s
report may just be the latest noise on the inexorable path toward restructuring
– after all, we have been talking about Greek debt for more than a year at this
point and have yet to see anything resembling a long-term solution (See “Why
Euro Debt Matters”) – but that didn’t stop investors to take the
opportunity to snap up battered stocks that had been languishing for much of
the session.
By the close the major
indexes were well off their lows, with the Nasdaq popping into positive
territory, up 18 points to 2,687, the Dow Jones industrial average down just 60
points at 12,050 and the S&P 500 off 4 points at 1,284. Earlier, the Dow
had lost more than 200 points.
Thursday’s earlier slide
was driven in part by the Obama Administration’s decision to tap the U.S.
Strategic Petroleum Reserve for some 30 million barrels of crude oil, as part
of a move by the International Energy Administration to stem the impact of the
production lost from Libya this year. That move hindered energy stocks, with
Exxon Mobil and Chevron the two biggest losers on the Dow as crude dropped to
$91.82 a barrel.
Meanwhile, talks over
the U.S. debt ceiling involving Vice President Biden collapsed
Thursday, with lawmakers calling for President Obama to take a more central
role in the negotiations.’
Was
Bernanke's Speech the last Nail in the Coffin? Maierhofer, June 24, 2011 The more FOMC meetings go by, the more they
remind me of cotton candy.
Every meeting gets hyped
up and whets your appetite for solid tidbits of financial guidance, yet every
FOMC meeting leaves me unfulfilled and unsatisfied, just like cotton candy.
There's much fluff but no substance.
For what it's worth,
lets dissect some of Bernanke's statements and its implications for
stocks. More importantly, we'll take a look at what the stock market has said
and will say, and how this matches up to technical analysis. You may be
surprised just how accurate the market's subtle signals have been.
About QE3
Bernanke said that a new
asset purchase program (something like QE3) won't be discussed for at least
another two to three FOMC meetings (the next FOMC meetings are scheduled for
August 9, September 20, November 1, 2).
He added that the
economy is in a different position today than it was last year. Interestingly,
he specifically noted that today's situation is just that, different, but not
where they'd like it to be. In other words, no QE3 is needed right now.
About Banks
Bernanke didn't
specifically talk about bank's health, but mentioned this: 'We don't have a
precise read on why this slower pace of growth is persisting. Maybe some of the
headwinds like weakness in the financial sector ... are stronger than we
thought.'
It seems like Sherlock
hit the head on the nail there. Of the 7,574 federal insured banks, 11.7% are
on the FDIC's problem list. It is not surprising that the financial sector ETFs
trade below their 200-day moving average.
About GDP
The 2011 Gross Domestic
Product (GDP) forecast was cut to a range of 2.7% - 2.9% from a prior range of
3.1% - 3.3%. 2012 GDP has been revised to a range of 3.3% - 3.7% from 3.5% -
4.2%.
Keep in mind that
government spending accounts for 26% of GDP. Furthermore, GDP does not
distinguish how government spending is financed. Yes, all the government
spending that has brought the country to the brink of insolvency is reflected
in GDP. It's time to rethink using GDP as the ultimate economic growth
indicator.
About Treasuries
There's much speculation
about the future direction of long-term Treasuries. I could add my own two
cents to the mix, but quite frankly at this point there is no high probability
set up.
However, I see that
30-Year Treasuries are above the 50 and 200-day moving average and barely above
the 20-day MA. But Treasuries are also below a trend line that has rejected all
advances for over 3-months.
Any major move will
either have to break below the 20-day MA or above the trend line. Knowing this
allows us to formulate high probability trading strategies (detailed analysis
on TLT and Treasury available via the ETF Profit Strategy Newsletter).
About Europe
Here's how Bernanke
summed up the situation in Europe: 'Failure to resolve the Greek situation
would pose threats to European and global financial systems and European
political unity. It's one of several potential financials risks we are facing.'
Does Benny B. think the European debt situations is worse than the media leads
us to believe?
About the only
Authority
There are many opinions
about what stocks (NYSEArca: TMW
- News) may or may not, or
should or should not do. But none of that matters, because the final and only
authority is the market itself. That's why it makes sense to listen to the
market and to the market only.
The chart below lists
various support/resistance levels for the S&P 500 (SNP: ^GSPC). To keep it
simple, I've omitted various weekly and monthly pivots. It's important to note
that we don't draw trend lines or Fibonacci levels, the market does. We simply
connect the dots. It doesn't matter if you analyze the S&P, the Dow Jones
(DJI: ^DJI), the Nasdaq (Nasdaq: ^IXIC) or the Russell 2000 (NYSEArca: IWM - News).
http://www.etfguide.com//contributor/UserFiles/8/Image/spx%206%2023%2011.gif
In hindsight it's always
easy to interpret why the market did what. Let's take a look at what the ETF
Profit Strategy Newsletter said about the various support/resistance levels
shown in the chart BEFORE the S&P encountered them.
April 3, about S&P
1,369: 'There is strong Fibonacci resistance at 1,369. In terms of resistance
levels, the 1,369 - 1,xxx range is a strong candidate for a reversal of
potentially historic proportions.'
May 3, about S&P
1,369: Recommendation to short the S&P against 1,369 with a tight
stop-loss. The S&P topped the very next day at 1,370 and tumbled over 110
points thereafter.
June 5, about S&P
1,298: 'A close below 1,298 would open the door for a retest of the important
1,255 Fibonacci level. Anyone who is not short but wants to be may take a short
position if the S&P moves below 1,298 with a stop-loss at 1,304.' The very
next day the S&P sliced through 1,298 support and fell as low as 1,258.
June 15, about S&P
1,259: 'The 200-day SMA at 1,257 is sandwiched between the 1,255 Fibonacci
projection level dating back to 2002 and this week's s1 at 1,259. Wednesday's
low was at 1,261.9. If this low is not enough, there is a strong cluster of
support at 1,259 - 1,245. A drop into the 1,259 - 1,245 range would prompt us
to close out short positions and leg into long positions.'
The next day the S&P
bottomed at 1,258 and rallied as high as 1,298.
June 21, about S&P
1,298: The S&P triggered a bearish low-risk entry. The recommendation was
to go short with a stop-loss at 1,299. If you enjoy more technical lingo, here
is the original trade tip:
'The trade based on
percentR is to go short with a stop-loss (based on closing prices) at today's
high (1,297.62). Because of the close proximity to the Fib level at 1,298.5,
let's put the stop-loss at 1,299.'
Leading up to Bernanke's
speech, the S&P traded as high as 1,298.61 and faded away.
June 22, about new lows:
'There is only one support level between yesterday's close and the 200-day SMA
at 1,262. If the market is going to drop that far, it will probably take out
the 1,259 low and minimally test the 1,255 Fibonacci support or the 1,250 trend
line.'
Cotton Candy or the
Real Deal
There is no doubt that
QE2 has altered the performance of stocks. The absence of QE2 will probably
alter their performance as well…’
AT&T Gave $500k to House
Democrats Pushing The T-Mobile Takeover
How
Greece is Mocking the Rest of the World Maierhofer ‘ …
The next few paragraphs will be a walk down memory lane and show how Greece
went from an A1 rating (by Moody's) and a $3 billion deficit reduction effort,
to the most unstable country in Europe and a $146 billion bailout.
As you read the
progression of headlines, ask yourself whether you will believe any future
information spoon-fed by the media and/or government administrations.
It all started in June
2009. On June 23, Greece's finance minister Yannis Papathanassiou stated: 'The
rate of growth for the Greek economy in 2009 is expected to slow more than forecasted.
Specifically, it will range around zero and only return to growth in 2010.' The
disclosed budget deficit at the time was $3.1 billion.
On October 22, 2009,
Fitch lowered Greece's rating from A to A-. On October 30, Moody's placed
Greece's A1 rating on review for a possible downgrade. So far it all sounds
pretty innocent. The rest of the story is described simply in headlines:
December 17, 2009:
'Greek woes hit Euro'
December 21: 2009: 'ECB
member says no bailouts for Greece'
January 18: 'Two EU ministers:
No bailout for Greece'
January 19: 'Greece
tackles statistics trouble' (hmm, the numbers just didn't add up despite all
the financial alchemy)
February 9, 2010: 'Bulls
run on Greece news' (over rumors about a bailout)
February 11, 2010:
'European Union throws a big fat Greek bailout'
February 22, 2010:
'Debtors bet Greece won't spill'
February 27, 2010:
'Athens, Berlin spar as bailout takes shape (talks about $41 billion)
March 4, 2010: 'Is
Greece's crisis over?'
April 24, 2010: 'Greece
asks for $60 billion bailout'
April 27, 2010: 'Greece
contagion fears unfounded'
May 3, 2010: 'Greece
gets $146 billion rescue'
May 3, 2010: 'Wall
Street up sharply on data, Greece package'
May 8, 2010: 'Stocks
tumble on faulty quotes, Greek concerns'
June 14, 2010: 'Greece's
government bond ratings cut to junk by Moody's
July 5, 2010: 'Greece
upbeat on bid to exit from crisis'
December 17, 2010: 'IMF
approves $3.3 billion for Greece amid impressive fiscal adjustment' …’
Federal
Reserve Shipped Billions to Iraq Which Were Then Stolen Washington’s Blog | The Federal
Reserve has been involved in other unsavory activities as well, such as loaning
billions to Gaddaffi.
Jobless claims
rise more than expected Reuters
| Little improvement in the labor market this month after employment stumbled
in May.
House
votes down SEC budget hike Agency has been seeking a budget increase to
keep pace with its expanded responsibilities. (Washington Post) [ No surprise
here given the prior and continuing defacto complicity in wall street’s
enormous frauds. The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed! Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman … Yet, one must
ask what have they been doing and already getting paid for? Roche 'The worst
part of it ...Obama, who vowed change,
has done almost nothing to fix any of it and in fact continues most of the
policies that helped get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud ) …
I want just one person
with courage enough to stand up and explain to all that these huge
commissionable computerized trading volumes like never before are a net
negative in a very big way … that’s a fact … that’s economic reality in real
terms! … Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
U.S.,
allies to release 60M barrels of oil Effort hopes to cut fuel price and
jolt the stalling economic recovery. (Washington Post) [ Ah, riiiiight! The
next new gimmick, shill talking point for fraudulent wall street and
administrations worldwide and particularly america to pretend they’re doing
something of consequence. Though peak oil has been reached (and hence the
current moves are meaningless as regards that reality, and even detrimental,
longer term), the fact is there’s really no current shortage per se. Just
another meaningless b.s. talking point to divert attention from the much worse
than expected economic / financial data / reports / news. Stocks
Cut Losses On Greek Deal Pipe Dream at
Forbes Steve Schaefer ‘A Reuters report
Thursday afternoon said Greece has reached a deal with the European Union and
the International Monetary Fund on a new five-year austerity program, helping
Wall Street shed the bulk of its heavy losses Thursday afternoon, even though
such an agreement means little in the face of contentious debate within the
Greek government.
While a deal with the EU
and IMF on austerity clears the path for Greece to continue receiving the
bailout loans that are allowing it to meet its funding needs, there is still a
huge hurdle to clear in getting the deal through Greece’s Parliament, no small
task. After all, in just the past week Greek Prime Minister George Papandreou
has had to reorganize
his cabinet and face a confidence vote (which
he survived).
(Update: Reuters reports
that Papandreou has his doubts about whether the draft legislation will pass
muster and opposition leader Antonis Samaras has maintained his refusal to
bless the plan.)
Thursday morning,
Barclays Capital head of research Larry Kantor said he expects an eventual
Greek restructuring in 2012. In the near-term, BarCap figures enough will be
done to kick the can down the road and allow for some recapitalization of the
European banking system. That of course depends on some austerity being passed,
which Kantor said “is far from assured, though we think it will happen.” And
even once such a package is passed it only buys time. Actually fixing the
fiscal condition of Greece is not something that can be solved in a matter of
weeks, or even months.
Thursday afternoon’s
report may just be the latest noise on the inexorable path toward restructuring
– after all, we have been talking about Greek debt for more than a year at this
point and have yet to see anything resembling a long-term solution (See “Why
Euro Debt Matters”) – but that didn’t stop investors to take the
opportunity to snap up battered stocks that had been languishing for much of
the session.
By the close the major
indexes were well off their lows, with the Nasdaq popping into positive territory,
up 18 points to 2,687, the Dow Jones industrial average down just 60 points at
12,050 and the S&P 500 off 4 points at 1,284. Earlier, the Dow had lost
more than 200 points.
Thursday’s earlier slide
was driven in part by the Obama Administration’s decision to tap the U.S.
Strategic Petroleum Reserve for some 30 million barrels of crude oil, as part
of a move by the International Energy Administration to stem the impact of the
production lost from Libya this year. That move hindered energy stocks, with
Exxon Mobil and Chevron the two biggest losers on the Dow as crude dropped to
$91.82 a barrel.
Meanwhile, talks over
the U.S. debt ceiling involving Vice President Biden collapsed
Thursday, with lawmakers calling for President Obama to take a more central
role in the negotiations.’
STOCKS
MAKE INCREDIBLE COMEBACK AFTER HUGE PILE OF BAD NEWS: Here's What You Need To
Know Business Insider [ You need to
know that the bad news is at least reality and probably worse, and that
tomorrow, etc., the b***s*** spurring
rally will still be b***s***! ]
The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!
National / World
GOP
demands meeting with Obama on taxes
Congressional Republicans abruptly pulled out of debt-reduction talks
with the White House after seven weeks of negotiations. (Washington Post) [ Ooooh!
The lines in the sand are drawn … a principled stand we see … what total
b***s*** … all of them … democrats / republicans … for the sake of whom? … the
frauds on wall street … I want just one person with courage enough to stand up
and explain to all that these huge commissionable computerized trading volumes
like never before are a net negative in a very big way … that’s a fact … that’s
economic reality in real terms … then explain in cogent, fact-based fashion
beyond the war mongering rhetoric how the trillions spent on these contrived
and illegal (ie., Iraq, etc.) wars are worth the trillions spent bankrupting
this nation and spilling innocent blood and including as well, the blood of
u.s. soldiers. Then explain how the frauds on wall street by the biggest frauds
remain unprosecuted. Pathetic! Truly pathetic!
The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed! They’ve
used the contrived mideast turmoil and their wars to obfuscate and divert
attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Senate
Dems find themselves in a tough spot (WP) [ Tough spot? Like Iraq and a
hard place called Afghanistan; indeed they are. [Pakistani
troops, NATO helicopters engage in firefight 6th
soldier charged in plot to kill Afghan civilians (Washington Post) [ Gen. Hamid Gul: U.S. Generals Provoking War with Pakistan
Jones FLASHBACK: Editorial: US in
quagmire War
in Afghanistan and Iraq costs America $1trillion Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billiions from the fraud ).
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Permanent
U.S. Iraq and Afghanistan Occupations Planned Stephen Lendman | In total, known
Pentagon bases way exceed 1,000.
The Plan to Destabilize
Syria Thierry Meyssan
| Efforts to overthrow the Syrian government have a lot in common with what has
been undertaken in Libya.
US
official urges ‘immediate’ power transfer in Yemen AFP | Top US official Jeffrey Feltman
called Thursday for an “immediate” transfer of power in Yemen.
Robinson:
Why does the Afghan war go on? (Washington Post) [ Well, there’s one person
who minces no words as to why: Drudgereport: FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'... Minister
Farrakhan: “That’s A Murderer In The White House!” Minister Farrakhan
exposed the U.S. and NATO’s criminal War Libya and Africa during a June 15,
2011 Press Conference at the UN Plaza Hotel. Then there are, beyond the
regional proximity to oil and an american induced resurgent poppy / heroin
production / trade (the Taliban had all but eradicated same). After all,
pervasively corrupt, defacto bankrupt america is into the illegal drug trade in
a very big way. Obama’s Drawdown Speech: More Orwellian Lies Kurt Nimmo | The U.S. government has
no intention of ending the war and bringing home all of the troops. Obama:
Time for ‘nation building’ at home ‘Surge’
troops to be ordered home Departure
plan will remove 33,000 troops faster than Obama’s commanders requested but
more slowly than many of his political allies would like. (Washington Post) [
Well, in a certain sense he’s chronologically correct … finish the job of
destruction at home … yeah … it’s true … they haven’t the slightest idea what
they’re doing and no matter what or where, pervasively corrupt, defacto
bankrupt america’s touch is an invariably destructive, negative touch (‘nation
building’ the coy, euphemistic phrase for what is in fact ‘nation destroying’,
regardless of spin, propaganda, and outright lies). Obama’s
task: Keep support for Afghan war The president’s prime-time address on
plans to gradually withdraw troops must remind a skeptical electorate and a
concerned Congress that the country’s longest war remains worth fighting — and
funding. (Washington Post) [ Obama’s task? Support for this nation’s
self-bankrupting Afghan (among other) war(s)? Geeh! Silly me! And all the while
I thought wobama’s task was to bring to fruition all those laudable campaign
promises; viz., jobs / economy not wars, prosecution of the frauds on wall
street responsible for the crisis, etc.. What a total fraud wobama is. Obama’s
semantics draw criticism on Libya (Washington Post) [ Semantics? If it were
only wobama’s semantics that drew criticism. But, one must concede that when
fellow black Farrakhan is weighing in thusly: Drudgereport: FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'... Minister
Farrakhan: “That’s A Murderer In The White House!” Minister Farrakhan
exposed the U.S. and NATO’s criminal War Libya and Africa during a June 15,
2011 Press Conference at the UN Plaza Hotel.
(I wonder what Chinese mascot ‘the black mamba’ has to say ‘The Chinese people's love of
american basketball star Kobe Bryant’…Kobe Bryant China The
Kobe dynasty - Los Angeles TimesAug
20, 2008 ... Beijing It's Kobe's team, in China, anyway… Sprite
China: Kobe Bryant & Jay
Chou Music Video – Advertising ... Feb 23, 2011 ... Sprite China has paired up NBA Star Kobe Bryant of the LA Lakers … who has supplanted their own
’yellow / red bamba’; viz., Yao Ming.), wobama’s really got problems (you know,
that unflinchingly loyal 18%). Sen.
Conrad: $2 trillion not enough
Democratic chairman of budget committee is pushing for deeper cuts in
any debt-reduction deal. Lawmakers
fear time is running out to slice $2 trillion from the budget In six weeks,
negotiators must strike a bipartisan compromise and persuade a bitterly divided
Congress to support it. (Washington Post) [ Ah, there you have it. That
nebulous, ‘fudgeable’, over a period of time thing … ‘$4 trillion in
savings by 2021 to avoid a debt crisis. Others view $2 trillion as
impossibly ambitious...more borrowing authority for a nation already mired in
red ink.’…Some have been less than optimistic in their prognosis Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
What
else is radical in Pakistan Expressing pro-America sentiments requires a
degree of boldness that verges on a death wish. (Washington Post) [ And believe
it, not just Pakistan. After all, empathy / ability to empathize is what
supposedly in large part separates humans from other purportedly lower animals.
What would be the attitude of an american in america to a similarly
destructive, murderous force from abroad in america, you know, boots on the
ground as well as bombing (and not that contrived ‘pearl harbor event’ on 911
for the sake of the military industrial complex, israel, and neocon talking
points – who gave that stand-down order)? Indeed, this would be untenable
position for any foreign nation much less the pervasively corrupt, high crimes,
war crimes, meaningfully lawless nation in decline and fall america has become.
After all, america’s hardly the shining beacon of light in the world today as
viewed domestically as well as internationally, and infra, america has the
crime stats to prove it. Then there’s the defacto bankruptcy of america which
is lost on no one and no nation. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature.. Focus
Is on Obama as Tensions Soar Across Mideast
(NYT) [ Adapt? I don’t think so! I do believe that both nations are
regressively but nostalgically trying bring the world back to failed
geopolitical paradigms that made the 20th century the bloodiest century, not coincidentally
the american century (obviously for israel the latter half century). Yet, such
a conditioned psychopathic approach to global matters has led them
self-destructively, self-defeatingly, and ineluctably to decline, fall. ..
Orwellian approach fostered by the purveyors of global unrest; viz., israel,
america, Orwellian england, etc.;more specifically, diversion of the masses
from the glaring failures, economic and otherwise.
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
U.S.
Senate investigates claim CIA tried to smear U-M prof NIRAJ WARIKOO | “Depending on what we
find, we may take further action,” said Dianne Feinstein.
Nicolas
Sarkozy accuses Robert Gates of ‘bitterness’ The Telegraph | Gates criticized
European allies for the reliance on the US military, warning them that they
were putting Nato’s future at risk.
Mob
boss brought back to Boston; will he sing? DENISE LAVOIE BOSTON (AP) — James "Whitey"
Bulger's capture could cause a world of trouble inside the FBI.
The
ruthless Boston crime boss who spent 16 years on the lam is said to have
boasted that he corrupted six FBI agents and more than 20 police officers. If
he decides to talk, some of them could rue the day he was caught.
"They
are holding their breath, wondering what he could say," said Robert
Fitzpatrick, the former second-in-command of the Boston FBI office.
The
81-year-old gangster was captured Wednesday in Santa Monica, Calif., where he
apparently had been living for most of the time he was a fugitive. He appeared
Friday afternoon inside a heavily guarded federal courthouse in Boston to
answer for his role in 19 murders.
Bulger,
wearing jeans and a white shirt, looked tan and fit and walked with a slight
hunch at back-to-back hearings on two indictments. He asked that a public
defender be appointed to represent him, but the government objected, citing the
$800,000 seized from his Southern California apartment and his "family
resources."
"We
think he has access to more cash," said prosecutor Brian Kelly.
At the
second hearing, Bulger took a swipe at prosecutors after Magistrate Judge
Marianne Bowler asked him if he could afford to pay for an attorney.
"Well,
I could, if they would give me my money back," he replied in his
unmistakable Boston accent, prompting laughter in the courtroom.
Kelly
implied that Bulger's cash came from illegal activities.
"He
clearly didn't make that on a paper route on Santa Monica Boulevard," he
said.
Prosecutors
asked that Bulger be held without bail, saying he is danger to the community
and may try to threaten witnesses.
"He's
also, quite obviously, a risk of flight," Kelly said.
Kelly also
said Catherine Greig, Bulger's longtime girlfriend who was arrested with him,
told court officials that Bulger's brother may be willing to assist him in
posting bail.
Bulger did
not ask for a detention hearing, but his lawyer said he may later make an
argument that Bulger should be released on bail while awaiting trial.
The amount
of money found in Bulger's apartment confirmed a longheld belief by
investigators that he kept large stashes of cash for a life on the run.
"We
clearly don't think this is his last stash," Kelly said.
When
Bulger walked into the courtroom, he saw his brother William, the former
powerful leader of the state Senate, seated in the second row. Whitey Bulger
smiled at him and mouthed, "Hi." His brother smiled back.
Greig
appeared in court a few minutes later on charges of harboring a fugitive. She
asked for a hearing to determine whether she can be released on bail, and one
was scheduled for next week.
Bulger,
the former boss of the Winter Hill Gang, Boston's Irish mob, embroiled the FBI
in scandal after he disappeared in 1995. It turned out that Bulger had been an
FBI informant for two decades, feeding the bureau information on the rival New
England Mafia, and that he fled after a retired Boston FBI agent tipped him off
that he was about to be indicted.
The
retired agent, John Connolly Jr., was sent to prison for protecting Bulger. The
FBI depicted Connolly as a rogue agent, but Bulger associates described more
widespread corruption in testimony at Connolly's trial and in lawsuits filed by
the families of people allegedly killed by Bulger and his gang.
Kevin
Weeks, Bulger's right-hand man, said the crime lord stuffed envelopes with cash
for law enforcement officers at holiday time. "He used to say that
Christmas was for cops and kids," Weeks testified.
After a
series of hearings in the late 1990s, U.S. District Judge Mark Wolf found that
more than a dozen FBI agents had broken the law or violated FBI regulations.
Among them
was Connolly's former supervisor, John Morris, who admitted he took about
$7,000 in bribes and a case of expensive wine from Bulger and henchman Stephen
"The Rifleman" Flemmi. Morris testified under a grant of immunity.
In
addition, Richard Schneiderhan, a former Massachusetts state police lieutenant,
was convicted of obstruction of justice and conspiracy for warning a Bulger
associate that the FBI had wiretapped the phones of Bulger's brothers.
Edward J.
MacKenzie Jr., a former drug dealer and enforcer for Bulger, predicted that
Bulger will disclose new details about FBI corruption and how agents protected
him for so long.
"Whitey
was no fool. He knew he would get caught. I think he'll have more fun pulling
all those skeletons out of the closet," MacKenzie said. "I think
he'll start talking and he'll start taking people down."
A
spokesman for the Boston FBI did not return calls seeking comment. In the past,
the agency has said that a new generation of agents has replaced most or all of
the agents who worked in the Boston office while Bulger was an informant.
A law
enforcement official who requested anonymity because of the ongoing
investigation told The Associated Press on Friday that FBI agents lured Bulger
out of his., apartment earlier this week by telling him someone had broken into
his on-site storage unit. The official said Bulger walked out of the apartment,
was arrested without incident and consented to a search of the premises.
Some law
enforcement officials said they doubt Bulger will try to cut a deal with
prosecutors by exposing corruption, in part because he will almost certainly be
asked to reveal what contact he had with his brothers while he was a fugitive
and whether they helped him in any way.
"If
Bulger talks, he would have to talk about his brothers, and I can't see that
happening, said retired state police Detective Lt. Bob Long, who investigated
Bulger in the 1970s and '80s."They are not going to take selective
information from him — it's either full and complete cooperation or
nothing."
Criminal
defense attorney and former Drug Enforcement Administration agent Raymond
Mansolillo said Bulger may not have any incentive to talk. "The FBI may
say, 'You're going to jail or you're going to be killed. We're not offering you
anything,'" said Mansolillo, who once represented New England crime figure
Luigi "Baby Shacks" Manocchio.
But
retired Massachusetts state police Maj. Tom Duffy, one of the lead
investigators in the Bulger case, said Bulger may agree to talk if he thinks it
could help his girlfriend.
"It's
very possible he's concerned about her well-being — she was with him for 16
years and was very loyal to him," Duffy said. "That may be a
bargaining chip for the government during negotiations."
The
question of whether Bulger will be given a public defender will be decided
later. A hearing was scheduled for Tuesday. He did not enter a plea.
Bulger is
"looking forward to facing the charges against him," said Peter
Krupp, a lawyer assigned to represent Bulger for purposes of Friday's hearing
only.
Among the
onlookers at the courthouse was Margaret Chaberek, who grew up in Bulger's home
turf of South Boston. "I'm here to see him get what he deserves," she
said.
Ina
Corcoran of suburban Braintree came on her day off to witness a piece of
history and sat on a bench outside the fifth-floor courtroom, saying it was
like being there to see Al Capone.
"If
you could go back in time to be in that courtroom, wouldn't you?" she
said.
___
Associated
Press writers Johanna Kaiser, Laura Crimaldi in Providence, R.I., Curt Anderson
in Miami and Greg Risling in Los Angeles contributed to this report.’
STOCKS
MAKE INCREDIBLE COMEBACK AFTER HUGE PILE OF BAD NEWS: Here's What You Need To
Know Business Insider [ You need to
know that the bad news is at least reality and probably worse, and that
tomorrow, etc., the b***s*** spurring
rally will still be b***s***! ] Joe Weisenthal, On Thursday June 23, 2011, 4:00 pm EDT
It could have been a
real disaster today!
But first, the
scoreboard:
Dow: -53.16
NASDAQ: +18.46
S&P 500: -3.14
And now, the top
stories:
Financial
sector layoffs rise, more cuts ahead (Reuters)
New
Home Sales Dropped This Much in May Wall
St. Cheat Sheet
Federal
Tax Receipts Show Economy Grinding to a Halt
Technicals
Knew what Bernanke Didn't: Stocks will Tank! But How Much? Simon
Maierhofer June 23,
2011
The more FOMC meetings
go by, the more they remind me of cotton candy.
Every meeting gets hyped
up and whets your appetite for solid tidbits of financial guidance, yet every
FOMC meeting leaves me unfulfilled and unsatisfied, just like cotton candy.
There's much fluff but no substance.
For what it's worth,
lets dissect some of Bernanke's statements and its implications for
stocks. More importantly, we'll take a look at what the stock market has said
and will say, and how this matches up to technical analysis. You may be
surprised just how accurate the market's subtle signals have been.
About QE3
Bernanke said that a new
asset purchase program (something like QE3) won't be discussed for at least
another two to three FOMC meetings (the next FOMC meetings are scheduled for
August 9, September 20, November 1, 2).
He added that the
economy is in a different position today than it was last year. Interestingly,
he specifically noted that today's situation is just that, different, but not
where they'd like it to be. In other words, no QE3 is needed right now.
About Banks
Bernanke didn't
specifically talk about bank's health, but mentioned this: 'We don't have a
precise read on why this slower pace of growth is persisting. Maybe some of the
headwinds like weakness in the financial sector ... are stronger than we
thought.'
It seems like Sherlock
hit the head on the nail there. Of the 7,574 federal insured banks, 11.7% are
on the FDIC's problem list. It is not surprising that the Financial Select
Sector SPDR (NYSEArca: XLF
- News), the SPDR KBW Bank ETF
and the SPDR KBW Regional Banking ETF (NYSEArca: KRE - News) trade below their 200-day
moving average.
About GDP
The 2011 Gross Domestic
Product (GDP) forecast was cut to a range of 2.7% - 2.9% from a prior range of
3.1% - 3.3%. 2012 GDP has been revised to a range of 3.3% - 3.7% from 3.5% -
4.2%.
Keep in mind that
government spending accounts for 26% of GDP. Furthermore, GDP does not
distinguish how government spending is financed. Yes, all the government
spending that has brought the country to the brink of insolvency is reflected
in GDP. It's time to rethink using GDP as the ultimate economic growth
indicator.
About Treasuries
There's much speculation
about the future direction of long-term Treasuries. I could add my own two
cents to the mix, but quite frankly at this point there is no high probability
set up.
However, I see that the
iShares Barclays 20+ Year Treasury ETF (NYSEArca: TLT - News) is above the 50 and 200-day
moving average and barely above the 20-day MA. But TLT is also below a trend
line that has rejected all advances for over 3-months.
Any major move will
either have to break below the 20-day MA or above the trend line. Knowing this
allows us to formulate high probability trading strategies (detailed analysis
on TLT and Treasury available via the ETF Profit Strategy Newsletter).
About Europe
Here's how Bernanke
summed up the situation in Europe: 'Failure to resolve the Greek situation
would pose threats to European and global financial systems and European
political unity. It's one of several potential financials risks we are facing.'
Does Benny B. think the European debt situations is worse than the media leads
us to believe?
About the only
Authority
There are many opinions
about what stocks (NYSEArca: VTI
- News) may or may not, or
should or should not do. But none of that matters, because the final and only
authority is the market itself. That's why it makes sense to listen to the
market and to the market only.
The chart below lists
various support/resistance levels for the S&P 500 (SNP: ^GSPC). To keep it
simple, I've omitted various weekly and monthly pivots. It's important to note
that we don't draw trend lines or Fibonacci levels, the market does. We simply
connect the dots. It doesn't matter if you analyze the S&P, the Dow Jones
(DJI: ^DJI), the Nasdaq (Nasdaq: ^IXIC) or the Russell 2000 (Chicago Options:
^RUT).
http://www.etfguide.com//contributor/UserFiles/8/Image/spx%206%2023%2011.gif
In hindsight it's always
easy to interpret why the market did what. Let's take a look at what the ETF
Profit Strategy Newsletter said about the various support/resistance levels
shown in the chart BEFORE the S&P encountered them.
April 3, about S&P
1,369: 'There is strong Fibonacci resistance at 1,369. In terms of resistance
levels, the 1,369 - 1,xxx range is a strong candidate for a reversal of
potentially historic proportions.'
May 3, about S&P
1,369: Recommendation to short the S&P against 1,369 with a tight
stop-loss. The S&P topped the very next day at 1,370 and tumbled over 110
points thereafter.
June 5, about S&P
1,298: 'A close below 1,298 would open the door for a retest of the important
1,255 Fibonacci level. Anyone who is not short but wants to be may take a short
position if the S&P moves below 1,298 with a stop-loss at 1,304.' The very
next day the S&P sliced through 1,298 support and fell as low as 1,258.
June 15, about S&P
1,259: 'The 200-day SMA at 1,257 is sandwiched between the 1,255 Fibonacci
projection level dating back to 2002 and this week's s1 at 1,259. Wednesday's
low was at 1,261.9. If this low is not enough, there is a strong cluster of
support at 1,259 - 1,245. A drop into the 1,259 - 1,245 range would prompt us
to close out short positions and leg into long positions.'
The next day the S&P
bottomed at 1,258 and rallied as high as 1,298.
June 21, about S&P
1,298: The S&P triggered a bearish low-risk entry. The recommendation was
to go short with a stop-loss at 1,299. If you enjoy more technical lingo, here
is the original trade tip:
'The trade based on
percentR is to go short with a stop-loss (based on closing prices) at today's
high (1,297.62). Because of the close proximity to the Fib level at 1,298.5,
let's put the stop-loss at 1,299.'
Leading up to Bernanke's
speech, the S&P traded as high as 1,298.61 and faded away.
June 22, about new lows:
'There is only one support level between yesterday's close and the 200-day SMA
at 1,262. If the market is going to drop that far, it will probably take out
the 1,259 low and minimally test the 1,255 Fibonacci support or the 1,250 trend
line.'
Cotton Candy or the
Real Deal
There is no doubt that
QE2 has altered the performance of stocks (NYSEArca: IVV - News) and commodities (NYSEArca: DBC - News). The absence of QE2 will
probably alter their performance as well.
But I don't use the
cotton candy-like analysis provided by Mr. Bernanke or Wall Street. Listening
to the market has proved far more effective…’
UPDATE
1-High yield bond funds suffer record outflow-Lipperat Reuters
AAII
Sentiment Survey: Do Investors See a Double Dip Recession? Wall St. Cheat Sheet June 23, 2011 Bullish sentiment , expectations that stock
prices will rise over the next six months, jumped 8.5 percentage points to
37.5% in the latest AAII Sentiment Survey. This is an eight-week high for
optimism that stock prices will rise over the next six months. It is also,
however, the 10th consecutive week that bullish sentiment has been below its
historical average of 39%.
Neutral sentiment ,
expectations that stock prices will stay essentially flat over the next six
months, declined 1.4 percentage points to 26.8%. The historical average is 31%.
Bearish sentiment ,
expectations that stock prices will fall over the next six months, dropped 7.0
percentage points to 35.7%. This is a three-week low for pessism. Nonetheless,
bearish sentiment is above its historical average for the 17th time in 18
weeks.
An end to the market’s
six-week losing streak gave individual investors hope that stock prices are
stabilizing. Even with the improvement in sentiment, pessimism remains high and
is above average for the longest period of time in approximately a year.
(Bearish sentiment never dipped below 30% during the 18-week period of from May
13 to September 9, 2010.) The failure of Washington to reach an agreement on
the debt ceiling and the slow pace of economic growth remain key concerns for
individual investors.
This week’s special
question asked AAII members if the economy has merely slowed or if the risks of
a double-dip recession have increased significantly. Approximately two-thirds
of respondents said the economy has slowed, but will not fall into a double-dip
recession. One-third said the risks of a double-dip recession have increased.
Here is a sampling of
the responses:
This week’s AAII
Sentiment Survey results
Historical Averages
Charles Rotblut is the author of the new book Better
Good than Lucky: How Savvy Investors Create Fortune with the Risk-Reward Ratio. The
AAII Sentiment Survey has been conducted weekly since July 1987 and asks AAII
members whether they think stock prices will rise, remain essentially flat, or
fall over the next six months. The survey period runs from Thursday (12:01
a.m.) to Wednesday (11:59 p.m.). The survey and its results are available
online at http://www.aaii.com/sentimentsurvey
‘
Is
The Bull Market Over? [ Short answer, Yes! ] at Forbes William Scott O'Neil ‘On
May 23, I posted an article on Intelligent Investing titled Is the Bull Market Topping? Since then I’ve continued to interpret the facts and
market action. Amidst persistent choppy gains and losses, I’m further convinced
of a downtrend.
In our shop, however, we
never dig in our heels when it comes to the stock market; we remain flexible in
our thinking. Quite frankly, I would love to have the market prove me wrong and
resume a meaningful uptrend. Remember, there is never really a bull or bear
side, just the right side.
However, my big concern
at this point is the lack of a catalyst. For the risk-reward ratio to improve
in our favor, I believe we need resolution on some of the more pressing
domestic and international issues. Some of the most respected minds in the
market have recently told me that, in all their years in the industry, they
have never seen so many major issues happening across the world at the same
time.
Certainly meaningful job
growth in this country would help. And the way to grow jobs is through the
creation and expansion of businesses, particularly small businesses. Small
business creates roughly 85% of all jobs in this country. We also have to
implement an effective solution to the real estate housing glut.
Studying the recovery
phase of the last seven major bear markets (those down 45% or more, peak to
trough), the average gain in year three was 3%. We are now in year three. So,
to me, the best-case scenario right now is a continuation of a sideways,
back-and-forth, volatile market, which is the most dangerous type.
A choppy market is much
more dangerous than a down trending market (assuming the investor uses selling
rules). Thus my interpretation of the risk-reward at this time is very, very poor.
We will inevitably get
several short-term bounces, but will they be significant enough to build
substantial positions over time?’ [ Short answer, No! ]
Crumbling
Cuba Offers Economic Advice to White House at Minyanville [ The irony here is so obvious that I’ve not even wasted
space. Communism is such a total fraud, where ‘everybody’s equal except some
bureaucrats / party-members are ‘more equal’ than others’. Yet, pervasively
corrupt, defacto bankrupt america is no longer the antithesis of said failed
ideology, but rather also now a failed regime on similar theme where
bureaucrats / party-members and those connected, financially or otherwise, to
them are ‘more equal’ than others’. As for the pictures, you can find plenty
just like them right here in the ‘good ole u.s. of a.’
Infographic:
Some People Call it Groupon, Some Call it "Grouponzi" Minyanville Staff June 22, 2011 ‘A
game-changing Minyanville article about Groupon's business model was part of
the inspiration behind this clever infographic. [ ‘It is a well done graphic which you
can check out here by clicking’ ]
Jim
Cramer Hitting His Most Bearish Notes at
Forbes Heather Struck [ As I’ve previously been saying, yes this is a secular
bear market!
Retirement
As We Know it Is “Dead”: EuroPacific’s Pento The Daily Ticker [ States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 … And that’s just the
part of the public sector that’s on the radar owing to budget scrutiny … the
reality is much worse across the board! ]
‘We
now have more idle men, women than at any time since Great Depression’ Mortimer B. Zuckerman | The Great
Recession has now earned the dubious right of being compared to the Great
Depression.
Internal
IMF Audit Finds Bailout Fund Has Zero Credibility Zero Hedge | The observation that the
IMF has no credibility whatsoever has been well known for a long time by all
market skeptics.
Wall
Street made out on QE2, Main Street lost Brett Arends | Federal Reserve’s $600 billion program of
“quantitative easing” has been great for Wall Street.
Fed
freezes policy despite slow US economy AFP | The Federal Reserve left monetary policy in
neutral as it slashed US economic growth estimates.
Jobless claims
rise more than expected Reuters
| Little improvement in the labor market this month after employment stumbled
in May.
Greeks Turn Savings To
Gold Gold Core |
Greek citizens are emptying savings accounts and buying gold as they brace
themselves for the possibility of a sovereign default and a run on the banks.
Fed:
Economy has lost momentum Central bank says it will keep interest rates
near zero to prop up growth, let bond program expire. (Washington Post) [
Reality bites … just wait till it really does … lost momentum? … sure could
have fooled us, Drudgereport: Zuckerman:
'We now have more idle men, women than at any time since Great Depression'...
Bernanke
speaks, stocks sink...
FORBES:
'Admits he's clueless'...
TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
CHINA:
USA 'ALREADY DEFAULTING'...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
THE
NEW 'NORMAL'
GALLUP
PLUNGE...
Approval
-4, disapproval +5 -- in one day!
DEM
FIX: MORE SPENDING!
CBO:
Long-Term Debt Picture Worsens...
Would
reach 101% of GDP by 2021...
STUDY:
State, local gov'ts must raise taxes $1,400 a year for
30 years to fund pensions...
Millionaires
shrug off downturn; Wealthy richer than before crisis...
… must be using micrometers to measure the
difference, and at what cost for the head fake / obfuscation, and with much
worse to come, let’s all now in unison get real : Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed! The previous so-called (4
day) ‘rally’ was based on b***s*** alone to keep the suckers suckered and for
‘smarter money ‘ along with the frauds to sell into. This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top
1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘
National / World
Parties
at odds on debt reduction Congressional leaders from both parties make new
and competing demands in exchange for their votes to raise the nation’s debt
limit. (Washington Post) [ Oh,
riiiiight! That ‘cute, oft-referenced horse trading’ that goes down on capital
hill. How adorable these lovable slugs are as we wait expectantly for someone
in ‘Bill Murray-like fashion’ (SNL, Stripes, Meatballs, Caddyshack,
Ghostbusters, etc.) to chime in with a shrill comedic cry, ‘noogie time’,
‘noogies’… What a bunch of incompetent dopes. If they and theirs, all three
branches, weren’t so venal and destructive, domestically and internationally,
there would be less reason to be compelled to chastise them; but clearly, they
deserve every bit of criticism and cynicism one can muster. If it ever was (I’m
not amused http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
), their
‘old ways’ certainly aren’t cute, cool, or appropriate. Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal Sen.
Conrad: $2 trillion not enough
Democratic chairman of budget committee is pushing for deeper cuts in
any debt-reduction deal. Lawmakers
fear time is running out to slice $2 trillion from the budget In six weeks,
negotiators must strike a bipartisan compromise and persuade a bitterly divided
Congress to support it. (Washington Post) [ Ah, there you have it. That
nebulous, ‘fudgeable’, over a period of time thing … ‘$4 trillion in
savings by 2021 to avoid a debt crisis. Others view $2 trillion as
impossibly ambitious...more borrowing authority for a nation already mired in
red ink.’…Some have been less than optimistic in their prognosis Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature..
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Obama:
Time for ‘nation building’ at home
‘Surge’
troops to be ordered home Departure
plan will remove 33,000 troops faster than Obama’s commanders requested but
more slowly than many of his political allies would like. (Washington Post) [
Well, in a certain sense he’s chronologically correct … finish the job of
destruction at home … yeah … it’s true … they haven’t the slightest idea what
they’re doing and no matter what or where, pervasively corrupt, defacto
bankrupt america’s touch is an invariably destructive, negative touch (‘nation
building’ the coy, euphemistic phrase for what is in fact ‘nation destroying’,
regardless of spin, propaganda, and outright lies). Obama’s
task: Keep support for Afghan war The president’s prime-time address on
plans to gradually withdraw troops must remind a skeptical electorate and a
concerned Congress that the country’s longest war remains worth fighting — and
funding. (Washington Post) [ Obama’s task? Support for this nation’s
self-bankrupting Afghan (among other) war(s)? Geeh! Silly me! And all the while
I thought wobama’s task was to bring to fruition all those laudable campaign
promises; viz., jobs / economy not wars, prosecution of the frauds on wall
street responsible for the crisis, etc.. What a total fraud wobama is. Obama’s
semantics draw criticism on Libya (Washington Post) [ Semantics? If it were
only wobama’s semantics that drew criticism. But, one must concede that when
fellow black Farrakhan is weighing in thusly: Drudgereport: FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'... Minister
Farrakhan: “That’s A Murderer In The White House!” Minister Farrakhan
exposed the U.S. and NATO’s criminal War Libya and Africa during a June 15,
2011 Press Conference at the UN Plaza Hotel.
(I wonder what Chinese mascot ‘the black mamba’ has to say ‘The Chinese people's love of
american basketball star Kobe Bryant’…Kobe Bryant China The
Kobe dynasty - Los Angeles TimesAug
20, 2008 ... Beijing It's Kobe's team, in China, anyway… Sprite
China: Kobe Bryant & Jay
Chou Music Video – Advertising ... Feb 23, 2011 ... Sprite China has paired up NBA Star Kobe Bryant of the LA Lakers … who has supplanted their own
’yellow / red bamba’; viz., Yao Ming.), wobama’s really got problems (you know,
that unflinchingly loyal 18%). Yet, no
one can say the wobama / holder approach is devoid of racism. Sen.
Conrad: $2 trillion not enough
Democratic chairman of budget committee is pushing for deeper cuts in
any debt-reduction deal. Lawmakers
fear time is running out to slice $2 trillion from the budget In six weeks,
negotiators must strike a bipartisan compromise and persuade a bitterly divided
Congress to support it. (Washington Post) [ Ah, there you have it. That
nebulous, ‘fudgeable’, over a period of time thing … ‘$4 trillion in
savings by 2021 to avoid a debt crisis. Others view $2 trillion as
impossibly ambitious...more borrowing authority for a nation already mired in
red ink.’…Some have been less than optimistic in their prognosis Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen america.
Indeed, the scenario typifies that national drain / sinkhole new york (new york
/ new jersey metro) where, for example, FBI informants were routinely exposed
by ‘italians’ in the new york d.a.’s office over the objection of the FBI, and
were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this
was documented with authority in the book ‘Goombata: The Improbable Rise and
Fall of John Gotti and His Gang’ Cummings /
Volkman Though
having but 5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
CHINA:
USA 'ALREADY DEFAULTING'...
JOBLESS
WEAK: 429,000...
...disappointed
Economic
trouble puzzles Fed chief...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
THE
NEW 'NORMAL'
GALLUP
PLUNGE...
Approval
-4, disapproval +5 -- in one day!
DOWN TO
THIRD: USA 'TO FALL BEHIND INDIA' IN TRADE...
DEM
FIX: MORE SPENDING!
Bernanke
speaks, stocks sink...
FORBES:
'Admits he's clueless'...
CBO:
Long-Term Debt Picture Worsens...
Would
reach 101% of GDP by 2021...
STUDY:
State, local gov'ts must raise taxes $1,400 a year for
30 years to fund pensions...
Millionaires
shrug off downturn; Wealthy richer than before crisis...
Zuckerman:
'We now have more idle men, women than at any time since Great Depression'...
SHOCK
POLL: ONLY 3 in 10 WILL VOTE FOR OBAMA...
66%
say US headed in 'wrong direction'...
Greece
Agrees on New Austerity Plan With EU, IMF...
ANGER
IN ATHENS...
'BLACK
HOLE'...
DEBT TALKS BREAKDOWN; TAX BUST
S&P:
Risk of U.S. credit rating downgrade increased...
Chicago
county faces $108 billion
gap in pensions....
Greek
Streets 'Explosive'...
PM wins
confidence vote 'but outlook remains dire'...
Huntsman
announces presidential bid at Statue of Liberty...
Harry
Reid endorses...
Bachmann
surges to primary lead...
Iraq
hunting $17 billion missing after U.S. invasion...
NATO
NIGHTMARE: 9 CIVILIANS KILLED [NATO strike kills 15 Libyan civilians]
Census:
Whites lose majority among babies...
German
Giant Says US Workers Lack Skills...
PAPER:
AMERICA'S LOST DECADE?
States
look to Internet taxes to close budget gaps...
SPANIARDS
ON MARCH OVER BLEAK PROSPECTS...
House will move this week to limit funding for effort in Libya...
'DON'T
BE SURPRISED IF ATHENS GOES UP IN FLAMES'...
GREEK
PM PLEADS FOR UNITY!
...warns
against default
Threat
to downgrade Italian debt raises contagion fears...
Princess
Diana Conspiracy Movie Headed to Theaters... [ Uh, oh! Time to gear up
the already harsh ‘censors’ in england.
]
Bachmann:
Obama 'has failed' blacks, Hispanics... [ Come on! ‘Wobama the b’
(for b***s*** has failed everyone. ]
Presidential
no-show miffs Hispanics...
African-American
unemployment at 16%... [ But there’s rationality in this stat as
people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. Then there’s
the attitude. I truly believe from direct experience that even when their
outright aggression, assaults on persons and the senses, and otherwise
obnoxious behavior is not apposite, the personality disorder ‘passive /
aggressive’ is applicable, however indirectly expressed. ]
SHE'S
OFF! (on the road again) Michelle Obama embarks on Africa visit … (stay there!)
...
Princess
Diana Conspiracy Movie Headed to Theaters... [ Uh, oh!
Orwellian england’s censors on high alert! ] [ British
queen arrives in Ireland Queen Elizabeth II’s visit overshadowed by
security scares. (Washington Post) [ ‘How sweet she is’ … that ‘sweet liz’ …
that is … Diana
film causes stir at Cannes “Unlawful
Killing” has a combination of celebrity, controversy and canny hype-mongering.
(Washington Post) [ Let’s not kid
ourselves … and, Dodi Fayed’s father was no dope and knew the score. Indeed,
it’s not coincidental that William’s the over-riding favorite of granny Liz II;
after all, Harry’s the bastard son of Hewitt (don’t buy into their DNA proffer
which they did buy – you know, that ‘bloodline thing’). Moreover, it was
reported that Diana had another ‘potential challenger in the oven’ at the time
of her death and we all know how dicey such english affairs of state can be
(ie., Henry VIII, Richard III, etc.). Then there’s the contempt of Diana for
having brought the son of her bosom, Chas, down. Do I think she said flat out
‘kill Diana’. No … more of a ‘do what’s necessary’ to mi6 et als. Ultimately, William
will require some substantial therapy to
sort out this looming conflict. After all, Diana was his mother. Drudgereport: British
woman decapitated in grocery store; killer flees with head... Cannes:
Diana doc slams UK royals as 'gangsters'... ]
Federal
Tax Receipts Show Economy Grinding to a Halt
Is
The Bull Market Over? [ Short answer, Yes! ] at Forbes William Scott O'Neil ‘On
May 23, I posted an article on Intelligent Investing titled Is the Bull Market Topping? Since then I’ve continued to interpret the facts and
market action. Amidst persistent choppy gains and losses, I’m further convinced
of a downtrend.
In our shop, however, we
never dig in our heels when it comes to the stock market; we remain flexible in
our thinking. Quite frankly, I would love to have the market prove me wrong and
resume a meaningful uptrend. Remember, there is never really a bull or bear
side, just the right side.
However, my big concern
at this point is the lack of a catalyst. For the risk-reward ratio to improve
in our favor, I believe we need resolution on some of the more pressing
domestic and international issues. Some of the most respected minds in the
market have recently told me that, in all their years in the industry, they
have never seen so many major issues happening across the world at the same
time.
Certainly meaningful job
growth in this country would help. And the way to grow jobs is through the
creation and expansion of businesses, particularly small businesses. Small
business creates roughly 85% of all jobs in this country. We also have to
implement an effective solution to the real estate housing glut.
Studying the recovery
phase of the last seven major bear markets (those down 45% or more, peak to
trough), the average gain in year three was 3%. We are now in year three. So,
to me, the best-case scenario right now is a continuation of a sideways,
back-and-forth, volatile market, which is the most dangerous type.
A choppy market is much
more dangerous than a down trending market (assuming the investor uses selling
rules). Thus my interpretation of the risk-reward at this time is very, very poor.
We will inevitably get
several short-term bounces, but will they be significant enough to build
substantial positions over time?’ [ Short answer, No! ]
Crumbling
Cuba Offers Economic Advice to White House at Minyanville [ The irony here is so obvious that I’ve not even wasted
space. Communism is such a total fraud, where ‘everybody’s equal except some
bureaucrats / party-members are ‘more equal’ than others’. Yet, pervasively
corrupt, defacto bankrupt america is no longer the antithesis of said failed
ideology, but rather also now a failed regime on similar theme where
bureaucrats / party-members and those connected, financially or otherwise, to
them are ‘more equal’ than others’. As for the pictures, you can find plenty
just like them right here in the ‘good ole u.s. of a.’
Infographic:
Some People Call it Groupon, Some Call it "Grouponzi" Minyanville Staff June 22, 2011 ‘A
game-changing Minyanville article about Groupon's business model was part of
the inspiration behind this clever infographic. [ ‘It is a well done graphic which you
can check out here by clicking’ ]
Jim
Cramer Hitting His Most Bearish Notes at
Forbes Heather Struck [ As I’ve previously been saying, yes this is a secular
bear market! ] ’ CNBC stock-picker Jim Cramer made his
second-annual appearance at the E Trade Financial investor forum in New York
Wednesday morning. Anyone on less than their first cup of coffee probably
wouldn’t have had the mettle to keep up with Cramer’s 9:45 a.m. talk, but there
was plenty for the bullish advisor to rant about this year. Among Cramer’s
major complaints – good stock prices are just too darn high for such a
seemingly bearish period.
Cramer’s remarks
followed comments by chief investment strategist of equity research at Standard
& Poor’s Sam Stovall, in which he said volatility and a bear market are
both here to stay. “We are moving into a secular bear market with cyclical
bulls,” he said. The rows of E Trade investors attending the presentation in
the New York Hilton ballroom were told over and over again that if they are
willing to get comfortable with the external risks such as inflation in China,
a destabilized European economy, fluctuating oil prices and no real job growth
in the U.S., then they may be able to come to terms with the the very un-robust
stock market that exists today. What that means is investors can use periods of
price declines as buying opportunities.
Cramer echoed these
points by calling out the reasons he is unhappy with today’s stock market. “I’m
not a fan,” he said, calling it at times tough, brutal, mean, and angry. Still,
markets are going through a period of ennui, not despair, he said.
It is ennui that leads
investors to pour into tech IPOs like Pandora and LinkedIn at levels that
reminded everyone of the last tech bubble? Perhaps. Cramer likes stocks that
have strong market shares and earnings growth potential when the economy shows
signs of picking up, which is nothing new to standard value investors. However,
he also likes using gold bullion and the SPDR Gold Trust ETF (GLD) because
“gold acts like a currency,” Cramer says. When he is listing a gold trust in
his top ten stock picks, it is probably safe to say Cramer is going through one
of his own more bearish streaks.
The stock market could
still have a 3-5% pull-back, Cramer said, not trusting the recent 6-week losing
streak to be the last bottom. “There are actually a lot of times where I
am not bullish, and this is one of them,” Cramer said. “I don’t expect a robust
market. A retest of lows seems more likely.”
For the first time,
investors are worrying about the budget outcome in Washington, D.C. as well,
Cramer said. Where a debate in Congress over the necessity of raising the
federal debt ceiling is a symbol of the worsening faith that investors have in
U.S. debt. “We want to see fundamental change,” Cramer said. “Without it we
will always have one foot out the door of the stock market.”...’
Retirement
As We Know it Is “Dead”: EuroPacific’s Pento The Daily Ticker [ States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 … And that’s just the
part of the public sector that’s on the radar owing to budget scrutiny … the
reality is much worse across the board! ]
Greeks Turn Savings To
Gold Gold Core |
Greek citizens are emptying savings accounts and buying gold as they brace
themselves for the possibility of a sovereign default and a run on the banks.
‘We
now have more idle men, women than at any time since Great Depression’ Mortimer B. Zuckerman | The Great
Recession has now earned the dubious right of being compared to the Great
Depression.
Internal
IMF Audit Finds Bailout Fund Has Zero Credibility Zero Hedge | The observation that the
IMF has no credibility whatsoever has been well known for a long time by all market
skeptics.
Existing-home
sales fall They join a long list of other economic indicators that have
pointed to a soft spot in the recovery. (Washington Post) [ ‘Soft spot in the
recovery … talk about euphemisms … then let’s talk about no real recovery,
certainly when juxtaposed with those ‘illusory’ pre-election gains relative to
unaffordable debt costs to make them appear.
The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed!
Today’s so-called ‘rally’ is based on b***s*** alone to keep the suckers
suckered and for ‘smarter money ‘ along with the frauds to sell into. This is
an especially great opportunity to sell / take profits while you still can
since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times.
The risk of a debt default over the combustible issue of the Medicare deficit
hangs over the course of the stock market. Buyers Beware!“I was up in Wall
Street this week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too
much in the market. That’s my financial advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) They’ve used the contrived mideast turmoil and
their wars to obfuscate and divert attention from their failure. Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money--
National / World
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to recommend
it. My own direct experience with the region(s) (particularly new jersey, new
york, virginia, connecticut, california) carves out no exception for the
prevalence of the worst of human nature..
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Sen.
Conrad: $2 trillion not enough
Democratic chairman of budget committee is pushing for deeper cuts in
any debt-reduction deal. Lawmakers
fear time is running out to slice $2 trillion from the budget In six weeks,
negotiators must strike a bipartisan compromise and persuade a bitterly divided
Congress to support it. (Washington Post) [ Ah, there you have it. That
nebulous, ‘fudgeable’, over a period of time thing … ‘$4 trillion in
savings by 2021 to avoid a debt crisis. Others view $2 trillion as
impossibly ambitious...more borrowing authority for a nation already mired in
red ink.’…Some have been less than optimistic in their prognosis Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
What? We’ve had a lost
weekend or two. But how can you lose a whole decade? But Americans have done it
already.
After a 60-year debt
expansion, the developed world – led by the USA – went into a period of debt
contraction. This is what we call the Great Correction. We know for sure that
debt is being consolidated – at least in the private sector. We know that this
will be a drag on the economy for several more years.
We know also that the
feds’ efforts to fight the correction are setting up another crisis and
correction – this one in the public sector.
So, it looks as though
at least two things will be corrected – private debt…and public debt. Beyond
that, we’re not sure what excesses, mistakes and absurdities this correction
will target. Only time will tell.
So far, all the facts
that have come to light in the last four years seem to corroborate our Great
Correction story. As expected, jobs are few and far between. Consumer spending
is weak, as households try to repair their balance sheets. And the economy
limps along with negative or barely positive real GDP growth.
What does this sound
like to you?
Like Japan, of course,
which has been in a Great Correction for 20 years.
And even though the peak
of credit in the US wasn’t hit until 2007 we’re beginning to think that the
actual correction began in 2000. Since then, jobs, stocks, houses, and the
real, per-capita GDP have gone nowhere. In other words, a stealth correction
has probably been going on for 10 years already…it didn’t come out into the
open until after 2007.
Losing one decade could
be bad luck. Losing two begins to look like recklessness. Inattention. Or
robbery. Stay tuned…
At Dulles Airport
yesterday, it took us an hour of standing in line to check in. People in
economy were probably lucky to be able to check in at all.
But who cares. It’s
still almost a miracle to be able to leave our home in Washington at 4PM and be
in London at 6AM the following day. What a boost to our standard of living!
This is the kind of miracle that high-octane fossil fuel can give you. You have
to burn a lot of energy in order to lift a giant vessel made of thin metal,
filled with fat people off the ground. And then fly across the Atlantic Ocean
with it!
You can’t do that with
solar power…or wood…or batteries charged up from hydroelectric power stations.
You can only do it by reaching into the earth and using up some of its stored
up calories. And you can only use those calories once. (For reasons we can’t
figure out at this hour, the law of conservation of energy doesn’t seem to
apply.)
As you will see later
this week, the energy revolution of the 18th century boosted output and speeded
up GDP growth. Our standard of living – not to be confused with our quality of
life – is directly proportional to the amount of energy consumed. All of which
is a warm up to where our meandering will take us this week.
Energy use in the US
peaked in 1997. Real US GDP peaked a few years later. Since then, it’s been
downhill for the economy.
From memory…US GPD
didn’t hit 10 trillion dollars until about 2000. Now, it’s about $14 trillion.
Nice growth, huh? But wait. We know that a lot of that was phony, debt-fueled
growth. It was phony because it raised living standards to a level that people
couldn’t really afford. Or to look at it another way, it drew on earnings that
hadn’t happened yet…and maybe never would.
But how much of that $4
trillion worth of GDP is real and how much is phony? We don’t know. But we note
that the federal deficit is about $1.5 trillion, which is as phony as a $3
bill. Subtract that and you have a gain of $3.5 trillion over 10 years…or about
$350 billion per year.
Let’s see, adjust that
for population growth. Subtract phony private sector debt-fueled growth too.
And properly adjust for inflation. What do you get?
You get a lost decade. Another Lost Decade
by Bill Bonner originally appeared in the Daily Reckoning.’
Federal
Tax Receipts Show Economy Grinding to a Halt
Top
3 Reasons Markets Rose with Greece and Apple Wall
St. Cheat Sheet June 21, 2011 [ I like
apple (the first computer I ever bought) and was rooting for them (not just
because wintel based pc’s are so pathetic) and glad they survived; but, apple /
apple products are significantly over-priced and over-valued which is
the purblind sizzle fraudulent wall street loves and sells, as in the last few
crashes.] ‘Markets closed up on Wall Street: Dow +0.91% , S&P +1.34% ,
Nasdaq +2.19 , Oil +0.5, Gold +0.34% .
On the commodities
front, Oil (NYSE:USO) found some buyers on the idea Greece may not sink
the universe. Precious metals were both up with Gold (NYSE:GLD) closing at $1,546 and Silver (NYSE:SLV) rising 1%.
Today’s markets were up
because:
1) Investors smell some
sort of resolution in Greece . Although ratings
agencies are sending more warnings to Greece, the media is reporting a lot
of aggressive chatter regarding the EU stepping in to save Greece. At the end
of the day, that removes the probability of a Lehman style event. Now check out
which
Companies have dangerous exposure to Greece and which
Countries do too.
2) US Existing Home
Sales sucked. Yup. If you’re looking for positive data points in the US
economy, turn your head 180 degrees away from the housing market (NYSE:IYR). The always bullish National
Association of Realtors sales fell by 3.8% in May, at an annual pace
of 4.81 million, down 15.3% from last years mark of 5.68 million by the same point
in the year.
3) Apple finally caught
a bid. After some big time selling in Apple (NASDAQ:AAPL), the company is now rumored to be releasing a
major iteration with the release of iPhone 5. Add that to all the shareholders
who are filling the blogosphere with articles about “Apple as a Value Stock”,
and it was a matter of time before the buyers stepping in. ‘
Greece
"Essentially Bankrupt" Says Analyst With World's Most Unfortunate
Surname at Minyanville
Internal
IMF Audit Finds Bailout Fund Has Zero Credibility Zero Hedge | The observation that the
IMF has no credibility whatsoever has been well known for a long time by all
market skeptics.
Russia to Lower
U.S. Debt Holdings Wall Street
Journal | Russia will likely continue lowering its U.S. debt
holdings as Washington struggles to contain a budget deficit and bolster a
tepid economic recovery.
MONEY WATCH ARCHIVE
( from infowars.com / prisonplanet.com )
National / World
Labor
battle puts Obama in bind White
House ties to both sides of dispute between aerospace giant, union pose a
political quandary. (Washington Post) [
Sounds like a job for … John Kerry … Mr. all sides of all issues … special
appointment? Yet, wobama’s teleprompter can be called upon to split hairs and
draw fine lines … though unfortunately as even both sides to this dispute already
know as spoken by ‘wobama the b’ (for b***s***), whatever Mr. Teleprompter says
will be pure, unaldulterated b***s*** regardless of how well written and said.
Yes, not doing as promised has its pitfalls, not rewards, when doing as not
promised leads directly to the dire consequences and crises this nation and the
world now face. Too
Soon To Buy The Dip In This Market at
Forbes Sy
Harding ‘Don't buy this dip. After six straight down weeks the S&P 500
is down only 6% from its April peak. That’s not near enough to factor all the
negatives into stock prices…’
The
Great Stagnation of 2011 at
Minyanville Jeff Harding Jun
20, 2011 ‘Consumers aren't going to save our economy from stagnation, but
rather it will continue along with inflation
I go away for a few days and come back to a slug of not-encouraging
economic news.
The really big news was related to industrial production and manufacturing
which was either down or stagnant, depending on the index you look at.
The two reports that were negative were the Empire State Fed and the
Philadelphia Fed manufacturing reports which both reported substantial drops in
economic activity:
http://image.minyanville.com/assets/FCK_Jan2011/Image/June11/jh6201.JPG
http://image.minyanville.com/assets/FCK_Jan2011/Image/June11/jh6202.JPG
As you can see, Philadelphia dropped 7.7% (the first drop since September) and
NY dropped 7.8% (the first drop since November). The weakness was in new orders
and inventory accumulation, things that you don’t want to see decline.
Separately the inventory-to-sales ratio increased 0.8%, a small but negative
indicator.
The index of industrial production as announced by the Fed was flat in May, up
0.1%, but the year-over-year trend was still declining:
http://image.minyanville.com/assets/FCK_Jan2011/Image/June11/jh6203.JPG
It is true that all production is aimed at consumer
consumption but looking at consumption alone is not as good an indicator of
real organic economic growth as is the production side of the economy. The
reason being that production usually leads consumption out of an economic
slump, not the other way around. The Fed’s and the administration’s attempts at
monetary and fiscal stimulus haven’t worked because of their misplaced emphasis
on consumption. They don’t examine the issue of why people aren’t consuming.
The keys to new economic growth are savings, debt reduction, and the
liquidation of malinvested projects.
People aren’t going to spend until they feel they are economically secure and
there aren’t a lot of reasons right now for them to feel secure. And the data
shows it.
Retail sales for May came out slightly negative (-0.2%), but that is a bit
misleading. Here is the chart:
http://image.minyanville.com/assets/FCK_Jan2011/Image/June11/jh6204.JPG
As you can see, the trend has been flat-to-negative since January, 2011. For
several reasons economists like to strip out auto sales, a big ticket item that
may skew the data. Doing that, ex autos, retail
sales were up 0.3%. Again the data is confusing because the ex. auto data still
includes gasoline sales which were up 22.3% YoY. Gains were seen in health
care, building materials, miscellaneous retailers, and non-store (Internet)
retailers.
Then there is price inflation.
The PPI and CPI reports
also came in last week. Starting at the producer level, the PPI increase
moderated to a 0.2% gain (core, ex. energy and food, up 0.2%). But the
year-over-year trend was still up 7.0% in May (ex. energy and food, up 2.1%).
The PPI has been declining since January, 2011, but the rate of increase is
still high:
http://image.minyanville.com/assets/FCK_Jan2011/Image/June11/jh6205.JPG
On the consumer
side, the May CPI also was up 0.2%, slightly less than in April, but still a
strong upward trend as shown in this YoY chart (up 3.2% YoY):
http://image.minyanville.com/assets/FCK_Jan2011/Image/June11/jh6206.JPG
Ex. energy and food, it was up 0.3% for the month, and 1.5% YoY. Apparel,
shelter, new vehicles, and recreation were all up, but energy and gasoline were
down along with airline fares, tobacco, and personal care. This price inflation
may seem mild to the casual observer, but it is the trendline that is
important.
Interestingly, someone revived the Misery Index, or at least I just discovered
it. The Misery Index
was created back in the 1970s and is described thusly:
It is simply the
unemployment rate added to the inflation rate. It is assumed that both a higher
rate of unemployment and a worsening of inflation both create economic and
social costs for a country. A combination of rising inflation and more people
out of work implies a deterioration in economic performance and a rise in the
misery index.
The Index is now at 12.16. To put this in perspective, it was at its highest,
20.76 during the Carter Administration, and hasn’t been this high since 1983
(it declined after Reagan was elected). Its lowest points were 3.53 during the
Eisenhower Administration (1953) and again during the Clinton years, 6.05 in
1998.
This has resulted in a decline in consumer confidence. The Gallup Economic
Confidence Index declined 9 points in the past two weeks (ending June 12):
http://image.minyanville.com/assets/FCK_Jan2011/Image/June11/jh6207.JPG
The Reuters/Univ. of Michigan consumer sentiment poll reflected a similar
decline.
I will leave you with one more bit of data, perhaps the most important, from
the National Federation of Independent Business
(NFIB) who regularly put out data from the member surveys. Their Small Business Optimism Index declined again, for the third
straight month:
http://image.minyanville.com/assets/FCK_Jan2011/Image/June11/jh6208.JPG
“Corporate profits may
be at a record high, but businesses on Main Street are still scraping by,” said
NFIB chief economist Bill Dunkelberg. …
For the third month running, several key economic indicators continued their
downward tumble. Job market indicators continued to deteriorate, anticipating
very weak job creation and a higher unemployment rate. Capital spending plans
and inventory investment plans all weakened and remain at recession levels.
Inflation continues to rise, a notable business concern for owners who are
raising their own prices at the fastest pace seen in years. And driving the
economic uncertainty, one in four owners still report weak sales as their top
business problem (followed by taxes
and regulations and red tape, only 3 percent cite financing).
The most important thing among these data was the lack of capital
spending:
Capital spending remains
historically low in spite of very low interest rates and all sorts of expensing
incentives. Fifty percent of firms reported making capital expenditures over
the past six months, and the percent of owners planning capital outlays in the
next 3 to 6 months fell 1 point to 20 percent, a recession level reading.
What does all this mean? It means that the foundry of job creation for one-half
of the new jobs created in America, small businesses, are stalling out again
because of all the factors discussed above. Also, I wouldn’t expect a lot of
job growth from the multinationals as not even a declining dollar can offset
the cooling off of demand from money-stimulated countries like
China, India, and Brazil.
It means that consumers
aren’t going to save our economy from stagnation. It means that stagnation will
continue along with inflation. And it will be fun to watch all the naysayers who don’t think you can have an economic
slowdown and inflation at the same time.
It also means that my forecast of the likelihood of QE3 (quantitative easing) is still valid.
Editor's Note: This article was originally published at The
Daily Capitalist.’
Federal Tax Receipts Show Economy Grinding to a Halt Lee Adler June 17, 2011
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Lawmakers
fear time is running out to slice $2 trillion from the budget In six weeks,
negotiators must strike a bipartisan compromise and persuade a bitterly divided
Congress to support it. (Washington Post) [ Ah, there you have it. That
nebulous, ‘fudgeable’, over a period of time thing … ‘$4 trillion in
savings by 2021 to avoid a debt crisis. Others view $2 trillion as
impossibly ambitious...more borrowing authority for a nation already mired in
red ink.’…Some have been less than optimistic in their prognosis Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (WP) [ Ah, yes. The Puritans. Of noble purpose, religious
freedom, freedom generally did they come to these shores. A rare exception to
the influx of immigrants to this young nation who turned out to be more a virus
to the indigenous peoples of this land than what could have been expected from
those of noble calling. Indeed, in evolutionary terms, it’s doubtful that those
so positioned abroad would have represented a positive addition to the gene
pool which, borrowing from an insurance term, viz., adverse selection, springs
forth the notion of inevitability to the genocide of the indigenous populations
while guaranteeing the decline we see throughout this foundering nation. The
effects of these negative predispositions toward inherent criminality is
certainly being felt globally as well as domestically and has little to
recommend it. My own direct experience with the region(s) (particularly new
jersey, new york, virginia, connecticut, california) carves out no exception
for the prevalence of the worst of human nature; which is now collectively and
pervasively americana. Report:
SEC lawyer exposed FBI informant (WP) [ Clearly, the sec liar (sic –
lawyer) is one of those typically with a ‘pre or post’ arrangement, whether
implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Where
are the jobs? Scott Walker finds it’s easier to make bumper stickers than
to boost employment. (Washington Post) [ Oh, riiiiight, Mr. Milbank, inveterate
and unshakable defender of wobama regardless of fact or folly (wobama’s broken
campaign promises, etc.), it’s Scott Walker’s not wobama’s fault for the
nation’s dire predicament despite being the direct consequence of wobama’s
failure to do as promised and rather p***ing money (the nation doesn’t really
have) away in the perma-wars abroad marking his failed presidency as war
criminal bushes before him. Obama’s
semantics draw criticism on Libya Washington Post) [ Semantics? If it were
only wobama’s semantics that drew criticism. But, one must concede that when
fellow black Farrakhan is weighing in thusly: Drudgereport: FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'... Minister
Farrakhan: “That’s A Murderer In The White House!” Minister Farrakhan
exposed the U.S. and NATO’s criminal War Libya and Africa during a June 15,
2011 Press Conference at the UN Plaza Hotel.
(I wonder what Chinese mascot ‘the black mamba’ has to say ‘The Chinese people's love of
american basketball star Kobe Bryant’…Kobe Bryant China The
Kobe dynasty - Los Angeles TimesAug
20, 2008 ... Beijing It's Kobe's team, in China, anyway… Sprite
China: Kobe Bryant & Jay
Chou Music Video – Advertising ... Feb 23, 2011 ... Sprite China has paired up NBA Star Kobe Bryant of the LA Lakers … who has supplanted their own
’yellow / red bamba’; viz., Yao Ming.), wobama’s really got problems (you know,
that unflinchingly loyal 18%). Yet, no
one can say the wobama / holder approach is devoid of racism. UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Though having but 5% of the world’s
population, the u.s. has 76% of the world’s serial killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
Federal
Tax Receipts Show Economy Grinding to a Halt Lee Adler Jun3 17, 2011 ‘With the Fed now set to end
its program of quantitative easing for the time being and government spending
set to decline, the squeeze should worsen in coming months. Month to date
Federal withholding taxes as of June 15 were down 5.5% from last year, negating
the monthly gain in May. That gain was primarily due to the calendar
anomaly of a payment date for a biweekly and semimonthly pay period for many
employees coming on June 1 last year. That resulted in an understatement in
May’s 2010 receipts and an overstatement for June last year. Therefore the 5.5%
decline so far this month versus last June makes things look worse than they
are. The truth, as shown in the chart below, is that tax receipts over the last
rolling monthly period are about even with last year, suggesting that the
economy has stalled, but has not collapsed to the degree implied by a 5.5%
decline.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/tax1.jpg
Chart data through June 15
The 1-month moving
average of daily withholding tax collections is at about the
same level as last year. May’s gains have dissipated. The 13-week moving
average is sinking fast and should be hitting bottom now. It is at roughly the
same level as last year. Normal seasonality has a flat period through the third
quarter, with a drop into the low in September/October. If this graph drops
below last year’s level from here, then the economy probably is in free fall.
That would be very bad news in terms of the levels of debt the Treasury must float
in the months ahead.
(From 5/19/11): There’s no sign of upward momentum in this chart. Things should
turn more negative as stimulus spending recedes and other government spending
is cut. This will coincide with the ending of Fed money printing. That should
all result in a continued economic slowdown, and lower revenue collections
leading to bigger deficits and greater than forecast Treasury supply.
Looking at other taxes
as of June 15, excise taxes were down 8% versus last year. Corporate taxes were
down 9.3%. Quarterly income taxes are due on June 15. The April 15 quarterly
tax take was only down 6% y/y. The drop in excise and corporate taxes are bad
signs for the economy, and again suggest that the government will need to
borrow far more in the months ahead than the Treasury had expected based on its rosy economic
assumptions. The Treasury market could be in for a shock when the size of new
auctions start coming in much larger than anticipated.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/tax2.jpg
Through June 15…’
Double Shot Primes Markets:
Dave's Daily ‘The Fed completed the largest POMO action since QE2 began
in September. Monday's POMO
("A Double Shot of My Baby's Love"?) came as markets were still oversold,
which relieved this condition but may leave us drumming our fingers until after
Wednesday's FOMC meeting results. Although stocks rallied modestly Monday,
volume was nearly 35% below last week's trading. The negative news overhang remains with most insiders
believing Greece will have to accept (at least superficially) the harsh terms
the IMF and ECB have announced. Behind the scenes American banksters led by
Bernanke and the Chinese, with skin in the game, are pressing hard for a deal.
Frankly, anything can happen but a breakup of the EU and the euro itself are on
the table. That said, the euro was stronger again as some believe a deal will
be made and that QE3 is inevitable no matter how they describe it. The current
buzz is "the twist" with the Fed forcing a cap on the two-year Treasury bond to keep short-term
rates low. This is dollar bearish. Beyond the focus on Wednesday's FOMC meeting
and Greece commodity prices were little changed, the dollar was weaker and bonds
were mixed. (I'm in NYC this week and this will reduce normal commentaries.) As
stated, volume was much weaker than last week and below average but breadth per
the WSJ was positive relieving technical oversold conditions.’
Wall Street
ends higher, but weak volume a warning sign (Reuters) Stocks rose on Monday, as the latest development to
reduce Greece's debt helped draw buyers and the S&P 500 touched a key
support level, but anemic volume signaled the recent weakness ma...
Greek
Debt Restructuring Off the Table: EU Official CNBC
| A restructuring of Greece’s 340 billion euro ($481.5 billion) debt is not on
the agenda.
Federal
Tax Receipts Show Economy Grinding to a Halt Wall St. Cheat Sheet June 20, 2011 ‘Markets
closed up on Wall Street: Dow +0.63% , S&P +0.54% , Nasdaq +0.50 ,
Oil +0.26, Gold +0.08% .
On the commodities
front, Oil (NYSE:USO) had a slight uptick, closing over $93 a barrel.
Precious metals were both up slightly with Gold (NYSE:GLD) adding $1.20 to close at $1,540.30 and
Silver (NYSE:SLV) showing modest gains of 0.70%, about 25 cents.
Today’s markets were up
because:
1) No Big Earnings
Reports . Just about every day it seems some big company announces dismal
earnings below expectations and their plummeting share prices pull down the
market. But today no such news. With the slowly recovering economy taking a
turn for the worse this past month, no news is good news. In the meantime,
check out our new Wall St. Cheat Sheet earnings sneak peeks: Micron
Technology Inc. Third Quarter Earnings Sneak Peek.
2) Hope for Greece. EU
leaders have expressed their confidence that a Greek aid package will be
decided upon shortly, and it seems likely they might be able to avoid a
default. The absence of bad news is giving the euro a boost. A resolution
should come any day now, and analysts expect investor relief to account for
significant gains on all the indices. Check Out: Greece
Getting Desperate, Will Sell off State Assets.
3) Big Individual
Company News. The indexes were all propped up today by a few big companies with
big gains. Ford (NYSE:F) shares were up as they announced plans to revamp
the Lincoln brand, while fellow Detroit-based competitor GM (NYSE:GM) also saw shares rise today. Wal-Mart
(NYSE:WMT) shares were up after they won their Supreme Court
sex bias case, while the healthcare and consumer discretionary sectors showed
the highest gains today, while the tech sector was also up with big gains from
Caterpillar (NYSE:CAT) and DuPont (NYSE:DD) leading the way. ‘
Russia to Lower
U.S. Debt Holdings Wall Street
Journal | Russia will likely continue lowering its U.S. debt
holdings as Washington struggles to contain a budget deficit and bolster a
tepid economic recovery.
Spanish
protesters launch anti-austerity marches AFP | Seething over the destruction of millions of jobs,
welfare cuts and corruption, the first of at least three nationwide marches set
off from eastern Spain’s Mediterranean city of Valencia.
Greek
Debt Restructuring Off the Table: EU Official CNBC | A restructuring of Greece’s
340 billion euro ($481.5 billion) debt is not on the agenda.
Report: Typical City Bus Contains No Fewer Than Four Erections
At Any Given Time www.theonion.com [ Your tax
dollars at work! ] WASHINGTON—A report from the U.S. Department of
Transportation confirmed Thursday that at any one time, the average American
city bus is occupied by at least four fully erect penises. "This
persistent level of physical arousal remains a mystery, as we have found no
link between these erections and either the attractiveness of fellow passengers
or the intensity of vehicle vibrations," the report read in part, also
noting that when one of the four engorged penises goes flaccid, another
immediately hardens, as if to take its place. "Four is just a minimum, of
course. During rush-hour traffic, there may be as many as 21 stiffened members
on a single bus, while off-peak erection counts often hover around five or even
six." The report's statistics do not include bus drivers, who are believed
to remain constantly erect throughout their shifts.
Siemens Says US
Workers Lack Skills CNBC.com
| “There’s a mismatch between the jobs that are available… and the people that
we see out there.”
Stocks rally on
b***s*** alone from the eurozone on a purported, though unannounced plan by
merkel and sarkozy (a zionist now preoccupied with the Libya fiasco Drudgereport: FLASHBACK: Obama:
U.S. Involvement Would Last 'Days, Not Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO
BOMB LIBYA...) to avoid greek default. Yet, default
per se is not the problem. Indeed, China has already said, correctly defacto if
not technically, that america’s already is in default [Drudgereport: CHINA:
USA 'ALREADY DEFAULTING'... ]. The reason for the meaninglessness of
the distinction is that sovereigns, ie., defacto bankrupt america, etc., can
continue to print currency thus debasing the value of same as alluded to by
China, thus as does inflation, ‘bankrupting the lender’. Importantly, there
just isn’t sufficient value on this entire planet and certainly on the
‘investable horizon’ to offset the worthless paper, toxic assets, among the
huge amounts of unrepayable debt (promises to pay) both intra-national and
international. The waning full moon also accounts for the action to the
upside as the lunatic, criminally insane, lunatics / frauds on fraudulent wall
street attempt to keep the other lunatics / suckers suckered with
contraindicated rally on insurmountably bad news (no, those new apartment
building construction numbers change nothing). This is all pre-2012 election
year unaffordable obfuscation of failure across the board. Amazingly, the
lunatics on wall street now have plenty of company worldwide, particularly that
nato / eu bunch bringing to mind that old adage of ‘apples not falling far from
the trees’, conversely speaking. Paying attention to Robert Lenzner, infra, and
Toby Connor, among others, is wise counsel. Prepare
for Next Leg Down in Secular Bear Market, Beginning of Next Recession /
Depression Connor at Minyanville
Too
Soon To Buy The Dip In This Market at
Forbes Sy
Harding ‘Don't buy this dip. After six straight down weeks the S&P 500
is down only 6% from its April peak.
That’s not near enough
to factor all the negatives into stock prices. Those negatives include the
rapidly slowing U.S. economy, sharply rising global inflation, plunging global
markets as central banks raise interest rates to ward off inflation, the cuts
in government spending yet to hit the U.S. economy as Washington and individual
states tackle their record budget deficits, and the end of the Fed’s QE2
stimulus program.
Yet already Wall Street
is assuring investors that the correction is over, and the lower prices are
presenting a buying opportunity.
Be careful. After six
straight down weeks the market is short-term oversold and due for a brief rally
off that oversold condition. But it’s strictly a technical situation. The
market doesn’t move in a straight line in either direction. In strong rallies
it periodically becomes short-term overbought and pulls back some to alleviate
that short-term overbought condition before the rally resumes to new highs. In
market corrections it periodically becomes short-term oversold and rallies back
up some to alleviate the short-term oversold condition before the correction
resumes.
Meanwhile, although all
financial firms have a staff of technical analysts keeping up with the market’s
technical condition, Wall Street grabs onto simple non-technical explanations
when making its attempts to keep investors buying.
So on Thursday, it
explained the market’s positive day as being a response to the reports that new
claims for unemployment fell by 16,000 in the previous week, and new home
starts were up 3.5% in May, claiming those are signs the economic slowdown is
bottoming.
They know that reasoning
is ridiculous. Unemployment claims jump up and down week-to-week for a variety
of reasons. Five weeks ago they declined a much larger 29,000 for the week to a
total of 409,000. They’ve been up and down since, and this week they declined
16,000 to 414,000. But that’s more total claims for the week than there were in
mid-May. And new home starts rose 3.5%, but that was after an 8.8% decline in
April, leaving them lower than in March and still scraping along a
depression-like 25-year low.
On Friday morning the
market continued its technical rally off the short-term oversold condition.
Wall Street said it was in response to French President Sarkozy’s remarks that
the EU will probably consent to a new bailout package for Greece. A market
strategist on a TV financial show said, “This is the catalyst a lot of people
were looking for to jump back into the market.”
Huh? That Europe will
kick the solution of the Greek debt crisis down the road again, with another
temporary bailout payment, has no connection whatever to slowing global
economies and rising inflation.
Meanwhile, Wall Street
ignored the reports that were important this week.
The Housing Market
Index, measuring the confidence of home-builders, plunged to just 13 this month
(on a scale of 1 to 100), a nine-month low. Inflation at the consumer level
(CPI) was up 0.2% in May, now up 3.6% over the last 12 months, more than double
what it was a year ago. The NY State Mfg Index, and the Fed’s Philadelphia Mfg
Index, both plunged again this month, this time into negative territory. The
Philadelphia Index, often a precursor of the national reports, plunged to -7.7
from +3.9 in May, +18.5 in April, and +43.4 in March. It was the largest
three-month collapse in the history of the report.
Meanwhile, as global
central banks raise interest rates and tighten monetary policies to fight the
rising inflation, slowing their economic growth, their stock markets have been
in serious corrections. And historically, global markets, including the U.S.,
move pretty much in tandem with each other in both directions.
The world’s ten largest
economies behind the U.S. are China, Japan, Germany, France, the United
Kingdom, Brazil, Italy, Canada, India, and Russia. As a result of their
concerns about their slowing economies and rising inflation, their stock
markets are down an average of 12%, with most hitting new lows every few days,
no bottom in sight.
And Wall Street is
telling us the correction in the U.S. market is already over with a decline of
just 6%, and U.S. economic reports still coming in more negative each month,
and with more roadblocks to recovery still ahead?
Buy the dip?
I suggest continuing to
sell into any short-term strength that develops, and taking positions in
‘inverse’ ETF’s and ‘inverse’ mutual funds, which are designed to move opposite
to the market and thus make gains in market corrections.
In the interest of full
disclosure my technical indicators triggered an intermediate-term sell signal
on the market on May 8, and I and my subscribers have had profitable positions
since in two ‘inverse’ ETFs, the ProShares Short Russell 2000, symbol RWM, and
the ProShares Short S&P 500, symbol SH. And it is my intention to add to my
downside positions in selected ‘inverse’ funds in any short-term rally that
develops.’
The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed… an especially great
opportunity to sell / take profits while you still can since there's much worse
to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market
Could Fall 70%’ [ He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
Federal
Tax Receipts Show Economy Grinding to a Halt
Sell On The Rallies- Don't Buy On the Dips at Forbes Robert Lenzner [ I quite agree with Mr. Lenzner who has resisted through sound judgment the temptations and implicit pressures of the herd mentality on wall street. After all, bulls are cattle and hardly known for their brain power. ] ‘ Don’t listen to all the money managers selling their wares on tv ...’
National / World
Anti-austerity
protests spread across Europe Euronews
| “Society is paying for this crisis and that’s what we want to change.”
Greece
faces power outages due to austerity strike AP | Greece faced power outages on Monday as employees
at the main power utility began 48-hour rolling strikes to protest the
company’s privatization.
NATO strike kills 15 Libyan civilians
BEIJING, June 21 (Xinhuanet) -- Libya's official government spokesman says 15
civilians were killed by a NATO airstrike on the home of one of Muammar
Gaddafi' top officials in Surman, 70 kilometers west of Tripoli.
For
Greece, $160B wasn’t enough Officials involved in the financial rescue in
the spring of 2010 didn’t expect to be back so soon. (Washington Post) [ And
yet, this dire predicament for Greece mirroring a similar dour scenario
globally, and pervasively corrupt, defacto bankrupt america particularly is in
reality but a small part of the equally dour prospects for stocks. Stocks rally on b***s*** alone from
the eurozone on a purported, though unannounced plan by merkel and sarkozy (a
zionist now preoccupied with the Libya fiasco Drudgereport: FLASHBACK: Obama: U.S. Involvement Would Last 'Days, Not
Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
to avoid greek default. Yet, default per se is not the problem. Indeed, China
has already said, correctly defacto if not technically, that america’s already
is in default [Drudgereport: CHINA:
USA 'ALREADY DEFAULTING'... ]. The reason for the meaninglessness of
the distinction is that sovereigns, ie., defacto bankrupt america, etc., can
continue to print currency thus debasing the value of same as alluded to by
China, thus as does inflation, ‘bankrupting the lender’. Importantly, there
just isn’t sufficient value on this entire planet and certainly on the
‘investable horizon’ to offset the worthless paper, toxic assets, among the
huge amounts of unrepayable debt (promises to pay) both intra-national and
international. The waning full moon also accounts for the action to the
upside as the lunatic, criminally insane, lunatics / frauds on fraudulent wall
street attempt to keep the other lunatics / suckers suckered with
contraindicated rally on insurmountably bad news (no, those new apartment
building construction numbers change nothing). This is all pre-2012 election
year unaffordable obfuscation of failure across the board. Amazingly, the
lunatics on wall street now have plenty of company worldwide, particularly that
nato / eu bunch bringing to mind that old adage of ‘apples not falling far from
the trees’, conversely speaking. Paying attention to Robert Lenzner, infra, and
Toby Connor, among others, is wise counsel. Prepare
for Next Leg Down in Secular Bear Market, Beginning of Next Recession /
Depression at Minyanville Toby Connor June
16, 2011 And this time it's going to be much, much worse than in 2008. ‘Don't
let the perma bulls fool you -- this is not a normal correction, and it has
nothing to do with Greece or Spain. This is the beginning of the next leg down
in the secular bear market
and the start of the next economic recession/depression. And this time it's
going to be much, much worse than it was in '08…’ The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed… an especially great
opportunity to sell / take profits while you still can since there's much worse
to come!
America’s
shine is wearing off I know why we are falling into a cataclysm of debt and
can’t get out. (Washington Post) [ Ah, yes. The Puritans. Of noble purpose,
religious freedom, freedom generally did they come to these shores. A rare
exception to the influx of immigrants to this young nation who turned out to be
more a virus to the indigenous peoples of this land than what could have been
expected from those of noble calling. Indeed, in evolutionary terms, it’s
doubtful that those so positioned abroad would have represented a positive
addition to the gene pool which, borrowing from an insurance term, viz.,
adverse selection, springs forth the notion of inevitability to the genocide of
the indigenous populations while guaranteeing the decline we see throughout
this foundering nation. The effects of these negative predispositions toward
inherent criminality is certainly being felt globally as well as domestically
and has little to recommend it. My own direct experience with the region(s)
(particularly new jersey, new york, virginia, connecticut, california) carves
out no exception for the prevalence of the worst of human nature; which is now
collectively and pervasively americana.
Report:
SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec liar
(sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the objection
of the FBI, and were promptly ‘dispatched’/assassinated / hit by mafia /
organized crime [ this was documented with authority in the book ‘Goombata: The
Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed… an especially great
opportunity to sell / take profits while you still can since there's much worse
to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher.
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
http://www.angelfire.com/indie/pearly/htmls/bush-carlyle.html Investment giant says it will likely sell
shares. Defense Secretary Robert M. Gates tours eastern Afghanistan, days
before the Obama administration is scheduled to complete a major review of its
war strategy. ]
Wall
Street snaps six-week decline The Dow Jones closed in positive territory,
ending the longest series of weekly losses since 2002. (Washington Post) [. Stocks rally on b***s*** alone from
the eurozone on a purported, though unannounced plan by merkel and sarkozy (a
zionist now preoccupied with the Libya fiasco Drudgereport: FLASHBACK: Obama: U.S. Involvement Would Last 'Days, Not
Weeks'... OBAMA FIGHTS FOR HIS RIGHT TO BOMB LIBYA...)
to avoid greek default. Prepare
for Next Leg Down in Secular Bear Market, Beginning of Next Recession /
Depression at Minyanville Toby Connor June
16, 2011 And this time it's going to be much, much worse than in 2008. ‘Don't
let the perma bulls fool you -- this is not a normal correction, and it has
nothing to do with Greece or Spain. This is the beginning of the next leg down
in the secular bear market
and the start of the next economic recession/depression. And this time it's
going to be much, much worse than it was in '08…’ Yet, default per
se is not the problem. Indeed, China has already said, correctly defacto if not
technically, that america’s already is in default [Drudgereport: CHINA:
USA 'ALREADY DEFAULTING'... ]. The reason for the meaninglessness of
the distinction is that sovereigns, ie., defacto bankrupt america, etc., can
continue to print currency thus debasing the value of same as alluded to by
China, thus as does inflation, ‘bankrupting the lender’. Importantly, there
just isn’t sufficient value on this entire planet and certainly on the
‘investable horizon’ to offset the worthless paper, toxic assets, among the
huge amounts of unrepayable debt (promises to pay) both intra-national and
international. The waning full moon also accounts for the action to the
upside as the lunatic, criminally insane, lunatics / frauds on fraudulent wall
street attempt to keep the other lunatics / suckers suckered with
contraindicated rally on insurmountably bad news (no, those new apartment
building construction numbers change nothing). This is all pre-2012 election
year unaffordable obfuscation of failure across the board. Amazingly, the
lunatics on wall street now have plenty of company worldwide, particularly that
nato / eu bunch bringing to mind that old adage of ‘apples not falling far from
the trees’, conversely speaking. Paying attention to Robert Lenzner, infra, and
Toby Connor, among others, is wise counsel. The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed… an especially great
opportunity to sell / take profits while you still can since there's much worse
to come!
Gaddafi
defiant as bombing continues NATO strikes the Libyan capital at the
four-month mark of the uprising that plunged country into civil war. Report:
Obama overruled lawyers on air war Boehner
sharpens criticism of Obama on Libya
(Washington
Post) [ Drudgereport: PAPER:
2 Top Lawyers Lost to Obama in Libya War Policy Debate...
'Extraordinarily rare'... [ ‘WASHINGTON
— President Obama rejected the
views of top lawyers at the Pentagon and the Justice Department when he decided
that he had the legal authority to continue American military participation in the
air war in Libya without Congressional
authorization, according to officials familiar with internal administration
deliberations. Jeh C. Johnson, the Pentagon general counsel, and Caroline D.
Krass, the acting head of the Justice Department’s Office of Legal Counsel, had
told the White House that they believed that the United States military’s
activities in the NATO-led air war amounted to “hostilities.” Under the War Powers Resolution,
that would have required Mr. Obama to terminate or scale back the mission after
May 20…’ ]
Greek
rating now worst in the world...
CCC...
Likely
Default...
USA in
Even 'Worse Shape Financially Than Greece'...
Obama Launching World War III Infowars.com | The international banking cartel is using
Obama and the US military to start World War III.
Gaddafi
on Libyan TV pledges to defeat NATO Libyan TV aired an audio speech from
leader Muammar Gaddafi on Friday in which he vowed to defeat the NATO alliance
trying to dislodge him from Tripoli.
Globalists Want Permanent Occupation of Iraq Paul Joseph Watson | US has “no intentions of ever leaving” even as December deadline nears.
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
CHINA:
USA 'ALREADY DEFAULTING'...
FARRAKHAN:
'THAT'S A MURDERER IN THE WHITE HOUSE'...
THE
NEW 'NORMAL'
Iraq
hunting $17 billion missing after U.S. invasion...
NATO
NIGHTMARE: 9 CIVILIANS KILLED [NATO strike kills 15 Libyan civilians]
German
Giant Says US Workers Lack Skills...
PAPER:
AMERICA'S LOST DECADE?
States
look to Internet taxes to close budget gaps...
SPANIARDS
ON MARCH OVER BLEAK PROSPECTS...
House will move this week to limit funding for effort in Libya...
'DON'T
BE SURPRISED IF ATHENS GOES UP IN FLAMES'...
GREEK
PM PLEADS FOR UNITY!
...warns
against default
Threat
to downgrade Italian debt raises contagion fears...
Bachmann:
Obama 'has failed' blacks, Hispanics... [ Come on! ‘Wobama the b’
(for b***s*** has failed everyone. ]
Presidential
no-show miffs Hispanics...
African-American
unemployment at 16%... [ But there’s rationality in this stat as
people avoid their disgustingly uncivilized noisy rap ‘boomboxes’. ]
SHE'S
OFF! (on the road again) Michelle Obama embarks on Africa visit … (stay there!)
...
Federal Tax Receipts Show Economy Grinding to a Halt
Sell On The Rallies- Don't Buy On the Dips at Forbes Robert Lenzner [ I quite agree with Mr. Lenzner who has resisted through sound judgment the temptations and implicit pressures of the herd mentality on wall street. After all, bulls are cattle and hardly known for their brain power. ] ‘ Don’t listen to all the money managers selling their wares on tv. Unfortunately, this is a watershed moment for investors again– and I’m feared all the negatives in the world are seeming to overwhelm. We are in midst of 7th straight week down.QE2 will end in 15 days– and it played a strong support system for equities– up 25%, oil, up 25% and gold, up 25% ever since September, 2010 when Fed Chairman Ben Bernanke signaled he wanted to increase the wealth on paper of investors. If equities are on the way down– and the rout today overwhelmed the gains yesterday– then you will experience the double whammy of stocks and homes losing value at the same time– to what extent nobody knows. Money center banks like Bank of America certainly face write-downs from their huge portfolio of home mortgages. Wells Fargo, a Berkshire holding, is one of the widest held stocks by the mutual fund industry. Yes, The Greek economy is in deep trouble, but the larger problem is the holdings of European banks in the loans of Greece, Ireland, Portugal, Spain and Italy. Already, Moodys is talking about downgrading 3 major French banks. It’s the turn of the British and German banks to face huge write-offs on their loans to troubled nations– and secondarily the need to raise more capital themselves. I was informed this morning that some large money market funds in the US may hold large amounts of European bank paper, which could be difficult to liquidate in the current market environment. We’ll try to check out which ones, but you may recall that PIMCO lost most of the $3.4 billion in Lehman Brothers fixed income securities it owned. Then, there’s the uncomfortable coincidence of the sell off in the emerging nations, especially China where inflation is running at 6%, and the understandable softness in major commodities like oil– $94 in the US today, while the dollar rallied and gold looks to have lost its momentum. Indeed, this is a watershed moment. Just because cash is yielding nothing is no good reason to be 100% invested in common stocks.’
3 Reasons Why Friday’s Markets Were Mixed After Greek News June 17, 2011 Wall St. Cheat Sheet
‘Markets closed mixed
on Wall Street: Dow +0.36% , S&P +0.30% , Nasdaq -0.28% , Crude -1.98 ,
Gold +0.63% .
On the commodities
front, Oil (NYSE:USO) continued to fall, closing at $93 a barrel, while
precious metals were both up slightly, with Gold (NYSE:GLD) adding nearly $10 to close at $1,539 and
Silver (NYSE:SLV) showing modest gains of 0.87%, about 30 cents.
Today’s markets were
mixed because:
1) Greece gets on track
. Sort of. German Chancellor Angela Merkel and French President Nicolas Sarkozy
both spoke Friday in a joint
news conference, stressing the fact that they were working to preserve the
stability of the euro while nearing a consensus on how to handle Greece’s
bailout that won’t require private sector involvement while also (hopefully)
preventing restructuring and default. The EU breathed a small, collective sigh
of relief after the conference, and the euro made a 1.28% gain against the U.S.
dollar.
2) Conflicting Data.
Again. The Conference Board announced today that the Leading Economic
Index for the U.S. showed an increase of 0.8% last in May , but a Thomson
Reuters survey showed that consumer sentiment in June dropped even more than
had been expected after being up in May. In the meantime, the housing market
continues to be poor, and unemployment is a consistent problem. Despite
yesterday’s announcement that jobless claims had decreased, companies like
Research in Motion (NASDAQ:RIMM) are having lay off workers as net profits and
revenue continue to decline.
3) Gas Prices . The one
tiny beacon of hope comes in the form of lower gas (NYSE:UGA) prices, which continue to fall off record highs
last month. Crude was trading over $100 a barrel last week but is now down
around $93 today, with gas prices between $3.50 and $3.70 in most states, well
below the $4-plus many were seeing in May. ‘
Prepare
for Next Leg Down in Secular Bear Market, Beginning of Next Recession /
Depression at Minyanville Toby Connor June
16, 2011 And this time it's going to be much, much worse than in 2008. ‘Don't
let the perma bulls fool you -- this is not a normal correction, and it has
nothing to do with Greece or Spain. This is the beginning of the next leg down
in the secular bear market
and the start of the next economic recession/depression. And this time it's
going to be much, much worse than it was in '08.
For months now I've been warning
investors to get out of the general stock market. I was confident that once
the dollar put in its three-year cycle low the next deflationary period would
begin and stocks
would enter the third leg down in the secular bear market.
Well, the dollar did put in the major three-year cycle bottom in May and stocks
almost immediately started to head down. This won't end until stocks drop down
into the four-year cycle low due sometime in mid to late 2012.
Let me explain to you what is unfolding so you don't listen to Wall Street or
CNBC and get sucked down into the next bear market.
In a healthy bull market, intermediate degree corrections hold well above the
prior cycle troughs. Higher highs and higher lows. When that pattern of higher
highs and higher lows on an intermediate time frame gets violated it is almost
always a sign that the market is topping. We are at that stage now as the
market is moving down to test the March intermediate cycle low.
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/bear%20chart%201.jpg
Oil has already violated its intermediate bottom. Energy stocks are a big part
of the S&P and they are going to be a big drag on the index going forward.
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/Bear%20chart%202.jpg
Click to enlarge
In a healthy bull market we shouldn't even come close to testing the March low.
Actually this market hasn't been healthy since last summer. That was the point
at which I recognized the large megaphone topping pattern that was being driven
by a double dose of quantitative easing (QE).
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/bear%20chart%203.jpg
Last year the market was able to push higher for almost a month on momentum
after QE1 ended. This market has already rolled over even though QE2 isn't
scheduled to stop until the end of June. The conclusion is that the market is
much weaker now than it was when QE1 ended. We all know what happened last year
when the money pumps were shut off. It led to the flash crash and a severe stock
market correction. It would have led to a new bear market except Ben Bernanke
quickly started QE2.
Actually QE is the reason the market is in trouble. Just like I said over two
years ago, all QE did was give us a brief reprieve and temporarily reflated
asset markets. I knew all along it wouldn't create jobs, and it didn't. (Well,
I guess a few bankers got to keep their jobs and pay themselves some big
bonuses, but the general population was never going to prosper from QE.)
As a matter of fact, just as I said it would, QE ultimately spiked commodity
inflation, and just like I knew it would, commodity inflation has now poisoned
the global economy, crushed discretionary spending, squeezed profit margins,
and is sending the world down into the next recession.
Unfortunately we are entering this recession in a much weaker state than we
went into the last one. Real unemployment is somewhere around 12-15%. It is
going to get much, much worse. I often wonder how in the world we could appoint
the people we did to run our monetary policy. How many times must they make the
same mistake before they figure out that they are the cause of our problems?
But enough Fed ranting -- back to the market.
All this hasn’t punctured
the wishful thinking at the Fed and on Wall Street, where corporate
profits are expected to prove stock prices are too cheap. Here’s the list
of the wishful thinking items I heard or read today;
*There won’t be a
default on US debt– or even a reduced credit rating. I have to admit a
gnawing anxiety about resolving budget cuts sufficient to raise the debt limit
by trillions. Yes, trillions. Could there really be a political stalemate
and flirtation with a crisis over our finances? I’m beginning to think the
worst of all possible worlds. China and Germany are looking to reduce our
credit rating. Comes the revolution, an overthrow of American financial
superiority.
*Oil prices will
decline and that development will allow consumers to spend money and
stimulate the economy. Maybe they will– and maybe they won’t. Rules should
installed to limit speculation in energy futures by institutional investors.
*We are close to a
bottom in housing. My answer; we’ve been told we were close to a
bottom for many months now– and it’s an absurd notion. Yale’s Schiller is
suggesting the loss in housing values could be another 10-20%. Goldman Sachs
called this horror story over a year ago.
* If the economy doesn’t
pick up, Fed Chief Bernanke will declare QE3. Except that QE2 failed to create
jobs or economic activity. It only served to help speculators in gold, silver
and oil. There will be an outcry if QE3 is declared as it only helps the gold
lovers– and they are already filthy rich.
* The bank stocks are
selling below book value; their balance sheets are clean. It’s an enormous
buying opportunity. Then, why was there talk about busting up Morgan Stanley
today. Liquidating a major investment bank? Now, that’s a devilish sign
of serious trouble on the horizon.
*Here’s the most
unhealthy element that’s operative; corporate profits and executive
compensation have been strong– while wages for ordinary Americans are lower.
“What is to be done?” asked Lenin in 1917. Neither the White House nor
Wall Street know what to do to turn this decline around.
We are all being
challenged by a deterioration that seems to have no obvious public policy
solution. Pain is coming.’
Wall Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press” climaxed Sunday with a startling market prognostication from David Brooks, conservative columnist for the NY Times. The risk of a debt default over the combustible issue of the Medicare deficit hangs over the course of the stock market. Buyers Beware!“I was up in Wall Street this week,” Brooks said. “They’re vastly underestimating the source of piolitical risk here. We could have a major problem, I think, either this summer or the next couple years. And I’d be worried about investing too much in the market. That’s my financial advice.”…’ Another Financial Crisis Is On The Way, Mobius Says STOCKS HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of Economic Decline In America ‘The US is in the middle of a devastating long-term economic decline..’ ] States face shortfall for retirees (WP) Public workers’ retirement funds had a gap of $1.26 trillion at the end of fiscal 2009 Study: Affordable rentals scarce (WP) Poll: For Obama, low marks on Afghan war (WP) More Americans disapprove of President Obama’s management of the war in Afghanistan than support it Fuel prices cut into Obama popularity (WP) (The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast turmoil to obfuscate their failure. Davis ‘This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘ Dave's Daily 'If you can keep interest rates this low this long, its inevitable cheap financing can allow companies to start cobbling each other up. Further Ben's policies allow companies like IBM to sell bonds at 1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back their shares and pay dividends with what essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you still can since there's much worse to come!
Where
Is The Recovery? I Cannot Seem To Find It Tony Pallotta | If the US government reduced spending by
40% today, right this second we still could not put a dent in a $12 trillion
national debt.
Sen.
Sanders Spurs Return to ‘Made in America’: Says U.S. Future Depends on It The Daily Ticker [Who would be foolish enough to say
Sen. Sanders’ heart isn’t in the right place from the perspective of a u.s.
senator. Yet, who would be so foolish as to not realize how foolish such a
statement is in evincing a clear lack of understanding in terms of business,
tooling, retooling, investment and return on investment, minimum or less wages,
etc., and decades if at all to accomplish. The reality is that they can’t
unring the bell that they themselves rung, even laughing as they did so at, for
example, Ross Perot who admonished all. The futility of the belated rhetoric is
that it can’t be accomplished in the foreseeable future that counts. ]
Are we in for a Double-Dip? [ Yes! ] Simon
Maierhofer June 17,
2011 ‘Over the past few weeks
various economic indicators have been building a coffin for the U.S. economy.
Is the last nail about to be hammered in?
Before we
entertain the much dreaded D-D word (Double Dip), let's take a look at some of
the economic numbers and see if it's really that bad.
Housing Market
May's data
for housing was all bad. It started out with weak housing starts reported on
May 17 and continued with worse than expected pending home sales (May 27) and
an S&P/Case-Shiller Home Price Index that dipped to the lowest level since
March 2003.
The
discrepancy between the performance of real estate (NYSEArca: IYR
- News),
REIT ETFs (NYSEArca: VNQ - News),
and the actual real estate market has long highlighted the absurd power of QE2
to lift stocks but leave the rest of the economy in the dust.
The chart
below shows the performance of the S&P/Case-Shiller Home Price Index
(20-Composite).
http://www.etfguide.com//contributor/UserFiles/8/Image/SPCase-Shiller.gif
Unemployment
This
weekend's Wall Street Journal put a positive spin on the jobless report and
simply stated: 'Job market loses momentum.' If you really look at the numbers,
you'll see that the jobless recovery never had any momentum.
It's taken
a lot of lipstick and statistical alchemy, such as excluding workers that
have been out of a job for more than 99 weeks and simply decreasing the
workforce, to keep this 'pig' more presentable than it really is.
Consumer
Confidence
Consider
this for a moment. In May 2011, small caps (NYSEArca: IWM
- News)
and mid caps (NYSEArca: IWR - News)
reached an all-time high. I won't spend time pointing out how contradictory
this is to the global economic (NYSEArca: EFA
- News)
picture.
Despite
certain segments of the market being at all-time highs and the Dow Jones (DJI:
^DJI), S&P (SNP: ^GSPC), and Nasdaq (Nasdaq: ^IXIC) at new recovery highs,
the Consumer Board's Consumer Confidence Index was at a dismal 60.8 in May.
http://www.etfguide.com//contributor/UserFiles/8/Image/CCB%20Confidence%20Index.gif
As the
above chart shows, the average reading since 1967 is 94.5. The current reading
is lower than it was after the 9-11 attacks and about as low as in 2002. Consumer
spending accounts for 75% of GDP. What happens if the consumer doesn't feel
confident?
Worse
than Expected
Other
worse than expected numbers in May came from the Empire State Manufacturing
Survey, Redbook Retail Survey, Philly Fed Survey, Durable Goods Orders, GDP,
Chicago PMI, and the ISM Manufacturing Report.
They were
worse than expected because economists - who are generally bullish at the top
and bearish at the bottom - expected much better numbers. Thanks to Citigroup,
it is now possible to quantify just how right or wrong economists are.
The
Citigroup Economic Surprise Index measures actual data outcome relative to
consensus expectations. A positive index reading means that economic releases
have, on balance, been beating consensus estimates. As of June 2, the index was
at -91 (see chart below). By June 16 it had dropped to -101.
http://www.etfguide.com//contributor/UserFiles/8/Image/Citigroup%20ESI.gif
Dare
to be Different
Unlike
most economists, the ETF Profit Strategy Newsletter expected the market to peak
out after an April rally. Following a low-risk entry against major Fibonacci
support at 1,255 in March, the S&P formed a rare bullish dragonfly doji.
The Newsletter's forecast for the month of April (issued on April 3) read as
follows:
'A
dragonfly doji generally carries bullish implications. Considering the overall
technical picture and the bullish April seasonality, higher prices seem likely
and odds favor a buy the dips strategy over the next 1-3 weeks. There is a
fairly strong Fibonacci projection resistance at 1,369. In terms of resistance
levels, the 1,369 - 1,xxx (reserved for subscribers) range is a strong
candidate for a reversal of potentially historic proportions.'
The
importance of 1,369 was re-emphasized again on May 1, with a recommendation for
aggressive investors to short the S&P against 1,369. Following a 46-month
low in the VIX (Chicago Options: ^VIX) on Friday April 29, the S&P topped
on Monday May 1, at 1,370 and hasn't really looked back since.
Adjusting
the Sensors
The
purpose of any sensor, gauge, or indicator is to signal trouble before it
happens. A 'Check Engine' light doesn't help much if it lights up after
the engine blows. The proverbial canary in the coal mine is vital because it
smells toxic gases before anyone else does.
Unfortunately,
Wall Street doesn't subscribe to the concept of prevention, and neither do
economists. If they did, there wouldn't have been a 2002 tech crash (NYSEArca: XLK
- News),
a 2005 real-estate crash, or a 2007 financial crash (NYSEArca: XLF
- News).
Many
economic indicators (and the economy) never really recovered. Normally this is
reflected in stock prices. However, like a muzzle, QE2 has restrained the stock
market from expressing its feelings freely. Investors may hope that Mr.
Bernanke will unleash some version of QE3, but now is not the time to base
investment decisions on hope. After a 100%+ rally from the 2009 low, the easy
money has been made…’
16
Meaningless Market Phrases That Will Make You Sound Smart On TV The Daily Ticker
Here are the16
Meaningless Market Phrases That Will Make You Sound Smart On TV
CNBC's
15 Most Embarrassing Bloopers Slideshow Thwarter on Nov 4, 12:20 PM said:
Here's a complete list
for those of you who have better things to do than waste your time indulging
this site's desperate ploy for clicks:
Charlie Gasparino's F-Bomb
Live Toilet Flushing With Larry Summers
Jeff Macke Has Weird On-Air Meltdown
Michelle Caruso-Cabrera Calls "Bullshit" On Obama
Mortgage Lawyer Sinks Into Water
Illuminati to Blame for Economy's Woes
CNBC Screws Up Microsoft Earnings Call
Analyst Has A Weird Moment
Paul Volcker Walks Out On Maria Bartiromo
Dan Lyons Rips Into Jim Goldman
Charlie Gasparino's "What I Got" Episode
Not a blooper, just a pure homerun: Rick Santelli's "Rant of the
Year"
Brilliant: Cramer's Prescient Market Meltdown
Another amazing moment: Cramer Freaks Out, Attacks Guest
Another instant classic: Obama Swats Fly During Interview
[video]Trader:
Dow Could Drop to 10,500 TheStreet.com
TV
The day in 2011 that will change your life – overnight(!) WARNING: What you are about to see is controversial, and may be
offensive to some audiences. Viewer discretion is advised. http://www.stansberryresearch.com/pro/1011PSIEND49/LPSILC42/PR
IMF cuts U.S. growth forecast, warns of crisis Reuters | The IMF, in its regular assessment of global economic prospects, said bigger threats to growth had emerged since its previous report in April.
National / World
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Pressed
by party, Weiner resigns N.Y.
congressman decides to step down following revelations that he sent sexually
explicit messages and photos to women online. (Washington Post) [Drudgereport: WEINER
ROASTED... [ Ah, yes. Weeny
roast indeed. Ain’t gonna’ have Tony to kick around anymore. The end of a saga
as Tony Weiner resigns. Truth be told, I’m a bit surprised. After all, as
stated in a soundbite of a new york voter, ‘they (the rest of congress) are
worse than him!’ Difficult to dispute. The truth, that is. Kind of like that scene in ‘Road to
Perdition’ of mob boss Newman’s retort to hitman / enforcer Hanks, ‘there are
only murderers in this room’. Point well-taken. After all, they backed bush’s war
crimes, covered up wall street’s crisis-causing frauds in the trillions even to
this day, are venal and corrupt even as they, along with the executive branch,
scoffed at straight-shooters as Ross Perot who highlighted what is now
recognized as gross incompetence, extended their tainted touch to the quid pro
quo federal courts, etc.. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
Press
conference turns into circus...
NO HUMA...
MSNBC
Host: 'Reminded me of Saddam Hussein hanging'...
REPORT:
Could Run For Seat Again in Upcoming Special Election...
Congressman
Joins Jobless Ranks...
...Approached
for 'Entourage' Cameo
NEW
PHOTOS: Weiner Used Congressional Gym As 'Sexy' Backdrop...
Entering
'psychological treatment center'...
PELOSI:
OUT... DNC
BOSS: RESIGN...
Boehner
gets laughs with quip...
PELOSI:
You gotta' go...
DNC BOSS: RESIGN...
Chorus
to quit grows...
WEINER
WON'T GO
Cops
probe texts to teen girl...
MSG:
'Large. Tights and cape'...
Weiner
admits, says they were harmless...
Rangel
defends: 'He wasn't going out with little boys'...
THE NEW TACK: Dem rep sick, needs treatment to 'make himself
well'...
New
X-rated Weiner photo hits web...
Weiner:
That's my weiner, too...
Another
Weiner Sexter Emerges...
POLITICO
on Weiner: 'Dam is breaking'...
DEMS
BAILING...
Old
Flame Calls on Him to Quit... ‘…he transcript of a nine-month "sexting"
relationship Weiner had with a Las
Vegas blackjack dealer. Radar Online posted the transcript, and it is rife
with misogyny and distorted views about women. In referring to oral sex, Wiener
tells her, “You will gag on me before you c** with me in you” and “[I’m]
thinking about gagging your hot mouth with my c***.” This is not about sex.
It’s about dominating and inflicting physical pain on a woman, a fantasy the
hard-core porn industry makes billions of dollars on selling to men. You don’t
want to gag a woman with your penis unless you have some serious issues with
the way you see women. As for his
other views of women, he tells her, “I hear liberal girls are very, uh,
accommodating of other[s],” playing on a bogus stereotype that politically
liberal women are promiscuous. When he asks the woman, who is Jewish, “You give
good h**d?” and she says yes, he exclaims: “Wow a Jewish girl who sucks c***!
this thing is ready to do damage.” ‘[ What a total mental case! ]
REPORT:
Weiner coached woman to lie...
TMZ:
Offered PR help...
Dems
Begin Peeling Off...
Breitbart
says he has X-rated photo...
WHACKED,
NOT HACKED!
'Used govt. resources'...
Breitbart:
'I Want To Hear Truth'...
6
'inappropriate' relationships...
ABCNEWS:
Mystery Woman Revealed...
HER
STORY...
Risqué
Online Chats, Photo Swaps...
SLIDESHOW...
VIDEO:
'Web of lies'...
TWITTER TEARS: WEINER ADMITS
REPORT:
Woman claims to have 200 explicit messages from NY Dem...
IT
MIGHT BE MY WEINER! REPORT:
WEINER'S TALE UNRAVELING... By Daniel Libit Sunday, June 5, 2011 ‘As the world has attempted to
make sense of Rep. Anthony Weiner’s claim that his Twitter account was hacked,
a key clue has been missing: exactly how the notorious groin pic was posted
online. But according to data provided exclusively to The Daily from
TweetCongress.org, a nonprofit website that captures each member of Congress’s
Twitter feeds in real time, the shot seen round the world was transmitted using
TweetDeck — a popular Adobe desktop application that links up with social
networking sites. A review of Weiner’s Twitter stream from May 27, the day of
the crotch pic, shows that Weiner had been posting only from TweetDeck — one of
many ways to post messages to Twitter — that entire night. Chet Wisniewski, a
senior security adviser at security software company SophosLabs, said the
TweetDeck stamp “does make it more plausible that it did come from him.” Weiner
used TweetDeck frequently, but he often also posted from the Web directly or
from his BlackBerry. A widely
circulated explanation for how Weiner’s Twitter account could have
been hacked by email would also seem to be incompatible with the fact that the
message in question originated on TweetDeck. If email had been used, the
message probably would have originated via the photosharing site Yfrog, where
the infamous picture was posted …’ [ Weiner
admits he sent lewd picture; won't quit (AP) - After days of denials, a choked-up Rep.
Anthony Weiner confessed Monday that he tweeted a photo of his bulging
underpants to a young woman, and he also admitted to "inappropriate"
excha...’ Tearful US
congressman admits to crotch photos (AFP) ]
'This
Could Be The End For Him'...
’Pot Calls
Kettle Black’: Donald
Trump Unloads on Anthony Weiner: "He's a Psycho" - Donald Trump has a new target, and boy does
he look pleased. "The fact is, Anthony Weiner is a bad guy," the
Celebrity Apprentice honcho, who recently decided against running for...
'Have
You Ever Taken A Picture Like This Of Yourself?'...
WEINER
CALLS COPS ON CBS WASHINGTON (CBSNewYork)
— ‘Congressman Anthony Weiner said Thursday he’s finished talking about the
lewd photo sent from his Twitter account.But he still wouldn’t say whether
he’s the one in the picture.So CBS 2 political reporter Marcia Kramer
decided to go to his office on Capitol Hill to try to get you some
answers.You’ll never believe what happened.Kramer tried to get an interview
with the six-term New York Democrat and as a result had the cops called on
her.Kramer walked in to Weiner’s office, announced herself as being from CBS 2
in New York City and said she’d like to see the congressman. Those few words
created quite the stir. Doors slammed and people pretended she wasn’t there
...’ Weiner’s
efforts don’t cool furor The
congressman said that he didn’t send a lewd photo on Twitter but also that he
couldn’t “say with certitude” whether the image was of his own crotch.
(Washington Post) [ ‘Weiner’s weiner’!
‘Not cool furor’ … how ‘bout just plain ‘not cool’. Eh … what can you expect
from national drain / sinkhole new york (new york / new jersey metro). I
haven’t read but probably agree with the following article: Listen
up, fellas: Naked man-parts? Not so sexy. (Washington Post) / … Even Mr.
Milbank weighs in: ‘The
Weiner roast Congressman finds
himself in a fight he does not relish.’ Report:
SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec liar
(sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings / Volkman Though having but
5% of the world’s population, the u.s. has 76% of the world’s serial
killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]:
Afghans
prepare to take over security In areas where Afghan forces will be taking
control from foreign troops next month, emotions are mixed. (Washington Post)
[ Senate
Dems find themselves in a tough spot (WP) [ Tough spot? Like Iraq and a
hard place called Afghanistan; indeed they are. [Pakistani
troops, NATO helicopters engage in firefight 6th
soldier charged in plot to kill Afghan civilians (Washington Post) [ Gen. Hamid Gul: U.S. Generals Provoking War with Pakistan
Jones FLASHBACK: Editorial: US in
quagmire War
in Afghanistan and Iraq costs America $1trillion Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Dave's
Daily 'If you can keep interest rates this low this long, its
inevitable cheap financing can allow companies to start cobbling each other up.
Further Ben's policies allow companies like IBM to sell bonds at 1% and buy
back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back
their shares and pay dividends with what essentially is taxpayer money-- … an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
]
Greece
teeters amid default risk Athens reshuffles cabinet and works to convince a
nation to stand behind a new round of spending cuts. (Washington Post) [Sell
On The Rallies- Don't Buy On the Dips at
Forbes Robert Lenzner [ I quite agree
with Mr. Lenzner who has resisted through sound judgment the temptations and
implicit pressures of the herd mentality on wall street. After all, bulls are
cattle and hardly known for their brain power. ] ‘ Don’t
listen to all the money managers selling their wares on tv. Unfortunately,
this is a watershed moment for investors again– and I’m feared all the
negatives in the world are seeming to overwhelm. .. Yes, The Greek economy is
in deep trouble, but the larger problem is the holdings of European banks in
the loans of Greece, Ireland, Portugal, Spain and Italy. Already, Moodys is
talking about downgrading 3 major French banks. It’s the turn of the British
and German banks to face huge write-offs on their loans to troubled nations–
and secondarily the need to raise more capital themselves. I was informed this
morning that some large money market funds in the US may hold large amounts of
European bank paper, which could be difficult to liquidate in the current
market environment. We’ll try to check out which ones, but you may
recall that PIMCO lost most of the $3.4 billion in Lehman Brothers fixed income
securities it owned. Then, there’s the uncomfortable coincidence of the sell
off in the emerging nations, especially China where inflation is running at 6%,
and the understandable softness in major commodities like oil– $94 in the US
today, while the dollar rallied and gold looks to have lost its momentum.
Indeed, this is a watershed moment. Just because cash is yielding nothing is no
good reason to be 100% invested in common stocks.’
Daley’s courtship of executives hits rough
patch White House Chief of Staff William M. Daley, meeting with a group of
manufacturing executives in Washington, finds an exasperated crowd airing their
grievances over the president’s policies. (Washington Post) [ Courtship … rough patch … sounds likes excerpts
from a group family therapy session … not that they aren’t in need of substantial
therapy; and that goes for the vastly overpaid american execs as well as the
whitehouse, et als. Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press” climaxed Sunday with a startling market
prognostication from David Brooks, conservative columnist for the NY Times. The risk of a debt default over
the combustible issue of the Medicare deficit hangs over the course of the
stock market. Buyers Beware!“I was up in Wall Street this
week,” Brooks said. “They’re vastly underestimating the
source of piolitical risk here. We could have a major problem, I think, either
this summer or the next couple years. And I’d be worried about investing too much in the market. That’s my financial advice.”…’
Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities
Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating long-term
economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the
end of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war
in Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Davis ‘This is how we pay
off our current debts and I think bondholders are simply happy to get anything
out of a country that admits it owes $15Tn (1/4 of global GDP) but probably
owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities.
The funniest thing about this (and you have to laugh) is to see Conservative
pundits get on TV and talk about how we need to cut $100Bn worth of
discretionary spending to "fix" this (while continuing to spend $1Tn
on the military and $1Tn on tax cuts for the top 1% each year). There is no
fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT
THERE! ‘ Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
Where
Is The Recovery? I Cannot Seem To Find It Tony Pallotta | If the US government reduced spending by
40% today, right this second we still could not put a dent in a $12 trillion
national debt. Sen.
Sanders Spurs Return to ‘Made in
America’: Says U.S.
Future Depends on It The Daily Ticker
[Who would be foolish enough to say Sen. Sanders’ heart isn’t in the right place from the perspective of a u.s.
senator. Yet, who would be so foolish as to not realize how foolish such a
statement is in evincing a clear lack of understanding in terms of business,
tooling, retooling, investment and return on investment, minimum or less wages,
etc., and decades if at all to accomplish. The reality is that they can’t unring the bell that they themselves rung, even
laughing as they did so at, for example, Ross Perot who admonished all. The
futility of the belated rhetoric is that it can’t be accomplished in the foreseeable future that
counts. ]
Sell On The Rallies- Don't Buy On the Dips at Forbes Robert Lenzner [ I quite agree with Mr. Lenzner who has resisted through sound judgment the temptations and implicit pressures of the herd mentality on wall street. After all, bulls are cattle and hardly known for their brain power. ] ‘ Don’t listen to all the money managers selling their wares on tv...’
Prepare
for Next Leg Down in Secular Bear Market, Beginning of Next Recession /
Depression at Minyanville Toby Connor June
16, 2011 And this time it's going to be much, much worse than in 2008. ‘Don't
let the perma bulls fool you -- this is not a normal correction, and it has
nothing to do with Greece or Spain. This is the beginning of the next leg down
in the secular bear market
and the start of the next economic recession/depression. And this time it's going
to be much, much worse than it was in '08.
For months now I've been warning
investors to get out of the general stock market. I was confident that once
the dollar put in its three-year cycle low the next deflationary period would
begin and stocks
would enter the third leg down in the secular bear market.
Well, the dollar did put in the major three-year cycle bottom in May and stocks
almost immediately started to head down. This won't end until stocks drop down
into the four-year cycle low due sometime in mid to late 2012.
Let me explain to you what is unfolding so you don't listen to Wall Street or
CNBC and get sucked down into the next bear market.
In a healthy bull market, intermediate degree corrections hold well above the
prior cycle troughs. Higher highs and higher lows. When that pattern of higher
highs and higher lows on an intermediate time frame gets violated it is almost
always a sign that the market is topping. We are at that stage now as the
market is moving down to test the March intermediate cycle low.
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/bear%20chart%201.jpg
Oil has already violated its intermediate bottom. Energy stocks are a big part
of the S&P and they are going to be a big drag on the index going forward.
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/Bear%20chart%202.jpg
Click to enlarge
In a healthy bull market we shouldn't even come close to testing the March low.
Actually this market hasn't been healthy since last summer. That was the point
at which I recognized the large megaphone topping pattern that was being driven
by a double dose of quantitative easing (QE).
http://image.minyanville.com/assets/FCK_Jan2011/Image/InternsJune11/bear%20chart%203.jpg
Last year the market was able to push higher for almost a month on momentum
after QE1 ended. This market has already rolled over even though QE2 isn't
scheduled to stop until the end of June. The conclusion is that the market is
much weaker now than it was when QE1 ended. We all know what happened last year
when the money pumps were shut off. It led to the flash crash and a severe stock
market correction. It would have led to a new bear market except Ben Bernanke
quickly started QE2.
Actually QE is the reason the market is in trouble. Just like I said over two
years ago, all QE did was give us a brief reprieve and temporarily reflated
asset markets. I knew all along it wouldn't create jobs, and it didn't. (Well,
I guess a few bankers got to keep their jobs and pay themselves some big
bonuses, but the general population was never going to prosper from QE.)
As a matter of fact, just as I said it would, QE ultimately spiked commodity
inflation, and just like I knew it would, commodity inflation has now poisoned
the global economy, crushed discretionary spending, squeezed profit margins,
and is sending the world down into the next recession.
Unfortunately we are entering this recession in a much weaker state than we
went into the last one. Real unemployment is somewhere around 12-15%. It is
going to get much, much worse. I often wonder how in the world we could appoint
the people we did to run our monetary policy. How many times must they make the
same mistake before they figure out that they are the cause of our problems?
But enough Fed ranting -- back to the market.
alpeia wrote
Stocks tumble on news
from Greece http://www.washingtonpost.com/business/economy/prices-rise-in-may-triggering-inflation-concerns/2011/06/15/AGMBoFWH_allComments.html?ctab=all_&#weighIn Wall Street lost its footing after a rebound
from six weeks of consecutive losses. (Washington Post) [ If that were only
true as the reason for the tumble. After all, u.s. stocks have been
unaffordably and artificially propped up and overvalued far beyond rationality
in seldom seen bubble-territory. The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed… an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Selling In May Is Very Good Advice This Year Harding Remember:
Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘
‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs ‘ Dave's Daily 'If you can keep interest rates
this low this long, its inevitable cheap financing can allow companies to start
cobbling each other up. Further Ben's policies allow companies like IBM to sell
bonds at 1% and buy back shares with the proceeds (total paper bubble-scam).
POMO is occurring almost daily and Primary Dealers can buy back their shares
and pay dividends with what essentially is taxpayer money--America Is a Failed
State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim
economic reality [ http://albertpeia.com/grimreality.htm
]. Selling In May Is Very Good Advice This Year Harding / Equity Valuations Are
Forming the Second Biggest Bubble in U.S. History Kaspar ... According to Yale
University’s Dr. Robert Shiller, the market is now 41% overvalued …only time
the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/s...
Navin 1) The 5-year high in the level of insider corporate stock sales is
telling. At 565 sells for every 1 buy, it’s never been higher..extraordinarily
high, one might even say off-the-chart.
Report: SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec
liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen america. Indeed, the scenario
typifies that national drain / sinkhole new york (new york / new jersey metro)
where, for example, FBI informants were routinely exposed by ‘italians’ in the
new york d.a.’s office over the objection of the FBI, and were promptly
‘dispatched’/assassinated / hit by mafia / organized crime [ this was
documented with authority in the book ‘Goombata: The Improbable Rise and Fall
of John Gotti and His Gang’ Cummings, Volkman http://www.albertpeia.com/112208opocoan/ricosummar...
http://www.albertpeia.com/112208opocoan/PeiavCoane...
http://www.albertpeia.com
Today 6/16/2011 12:08:23
AM PST
alpeia wrote
U.S.-Pakistan
relationship in danger http://www.washingtonpost.com/national/national-security/arrest-indicates-pakistan-leaders-face-rising-pressure-to-curb-us-role/2011/06/12/AGrSi2VH_story.html The relationship is likely to deteriorate
further as Pakistani officials including Army chief Gen. Ashfaq Kiyani come
under pressure, endangering counterrorism programs. (Washington Post) [
U.S.-Pakistan? If it was only ‘U.S.-Pakistan’ as opposed to U.S. and the rest
of the world beyond war crimes nation and u.s. ward israel, and the defacto
bankrupt as america EU, one might say at least a little progress on the
‘non-foreign policy’ front. Yet, that’s but a dream thanks
to war mongering neo-cons, zionists, and so-called change-meister, failed
president as bush, ‘wobama the b’ for b***s***. Drudgereport: OBAMA: WHAT WAR
IN LIBYA?
'No exchange of fire with hostile forces'...
Lawmakers Sue...
Price tag projected to be $1.1 Billion this year...
AHMADINEJAD JOINS CHINA, RUSSIA AT SUMMIT...
IRAN PRESIDENT CALLS FOR ALLIANCE AGAINST WEST...
Greece Crippled by Protests, Strike Over
Austerity...
Likely Default...
USA in Even 'Worse Shape Financially Than Greece'...
Protesters burn American flag during Obama visit to Puerto
Rico -- a U.S. territory...
VIDEO: Heckled At Miami Fundraiser...
Report: SEC lawyer exposed FBI informant (Washington Post)
[ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or
post’ arrangement, whether implicit or explicit; you know, that ubiquitous
‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen america. Indeed,
the scenario typifies that national drain / sinkhole new york (new york / new
jersey metro) where, for example, FBI informants were routinely exposed by
‘italians’ in the new york d.a.’s office over the objection of the FBI, and
were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this
was documented with authority in the book ‘Goombata: The Improbable Rise and
Fall of John Gotti and His Gang’ Cummings, Volkman
Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers, http://www.albertpeia.com/realifeamericaserialkill...
bankrupt america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummar...
http://www.albertpeia.com/112208opocoan/PeiavCoane...
]:
CRIME STATISTICS >(america is No. 1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore
cases that involve black defendants and white victims ' Cases against Wall
Street lag despite Holder’s vows to target financial fraud WP | Obama has
promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityver...
http://www.albertpeia.com
6/15/2011 11:35:48 PM
PST
alpeia wrote
Deja Vu of dot-com
bubble http://www.washingtonpost.com/business/economy/pandora-ipo-feeds-fear-of-dot-com-bubble/2011/06/15/AGaZrWWH_allComments.html?ctab=all_&#weighIn Pandora’s IPO success is making observers
worried about a return to the dot-com bubble of the 1990s. (Washington Post) [
Dot-com bubble of the 90’s sounds like wishful thinking, as bad as that was.
More like, Equity Valuations Are Forming the Second Biggest Bubble in U.S.
History Kaspar According to Yale University’s Dr. Robert Shiller, the market is
now 41% overvalued …only time the markets have been more overvalued .. 1929
& tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/s...
Navin 1) The 5-year high in the level of insider corporate stock sales is
telling. At 565 sells for every 1 buy, it’s never been higher.. Sell On The
Rallies- Don't Buy On the Dips at Forbes Robert Lenzner [ I quite agree with Mr.
Lenzner who has resisted through sound judgment the temptations and implicit
pressures of the herd mentality on wall street. After all, bulls are cattle and
hardly known for their brain power. ] ‘ Don’t listen to all the money managers
selling their wares on tv. Unfortunately, this is a watershed moment for
investors again– and I’m feared all the negatives in the world are seeming to
overwhelm. We are in midst of 7th straight week down.QE2 will end in 15 days–
and it played a strong support system for equities– up 25%, oil, up 25% and
gold, up 25% ever since September, 2010 when Fed Chairman Ben Bernanke signaled
he wanted to increase the wealth on paper of investors.If equities are on the
way down– and the rout today overwhelmed the gains yesterday– then you will
experience the double whammy of stocks and homes losing value at the same time–
to what extent nobody knows. Money center banks like Bank of America certainly
face write-downs from their huge portfolio of home mortgages.. Just because
cash is yielding nothing is no good reason to be 100% invested in common
stocks.’
Report: SEC lawyer exposed FBI informant (WP)[ Clearly, the sec liar
(sic–lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen america. Indeed, the scenario
typifies that national drain / sinkhole new york (new york / new jersey metro)
where, for example, FBI informants were routinely exposed by ‘italians’ in the
new york d.a.’s office over the objection of the FBI, and were promptly
‘dispatched’/assassinated / hit by mafia / organized crime [ this was
documented with authority in the book ‘Goombata: The Improbable Rise and Fall
of John Gotti and His Gang’ Cummings, Volkman http://www.albertpeia.com/112208opocoan/ricosummar...
http://www.albertpeia.com/112208opocoan/PeiavCoane...
http://www.albertpeia.com/currentopics2ndqtr10108....
http://www.albertpeia.com
Today 6/16/2011 12:04:10
AM PST
alpeia wrote
White House defends
Libya action http://www.washingtonpost.com/politics/obama-administration-libya-action-does-not-require-congressional-approval/2011/06/15/AGLttOWH_allComments.html?ctab=all_&#weighIn The administration’s stance puts it at odds
with GOP leaders and some anti-war Democrats. (Washington Post) [ Well, the
defacto bankrupt u.s. can afford it! After all, we’re talking, Drudgereport:
FLASHBACK: Obama: U.S. Involvement Would Last 'Days, Not Weeks'... OBAMA FIGHTS
FOR HIS RIGHT TO BOMB LIBYA... Deadliest day this year... WARS RAGE ON... U.S.
Dead in Afghanistan Tops 1,500... , days, not weeks.
NATO sliding towards Libyan ground war: Russian envoy (Reuters) ‘Libya war
driven by O.I.L.: Oil, Israel & Logistics’ – McKinney to RT As NATO attacks
continue in Libya, ex US Congresswoman and former presidential candidate
Cynthia McKinney went to the country on a non-governmental fact-finding mission
to see what exactly is going on in the war-torn country. Lawmakers sue
President Obama over Libya A bipartisan group of House members announced on
Wednesday that it is filing a lawsuit charging that President Obama made an
illegal end-run around Congress when he approved U.S military action against
Libya. 90% of Petraeus’ Captured ‘Taliban’ Were Civilians Lawmakers push for a
new Afghan strategy (WP) [ It seems they’ve taken Robert Browning to heart;
viz., that ‘a man's reach should exceed his grasp’ (from a poem by Robert
Browning). Indeed, they search for that ever elusive thing called ‘strategy’
vis-à-vis the so-called ‘Afghan mission’ for the umpteenth time. For them, this
is but a ‘mission impossible’ as a strategy implies method to this reality of
their madness.The heroin trade which they’ve ramped up (the Taliban had all but
eradicated same) and commandeered as their own has been reason enough; yet, fog
of war creates many opportunities for the american criminals despite the
defacto bankruptcy of the nation. So, for the war criminal americans, reality
certainly falls within the ambit of beyond their grasp. Though having but 5% of
the world’s population, the u.s. has 76% of the world’s serial killers, http://www.albertpeia.com/realifeamericaserialkill...
bankrupt america also spends more on military than all the nations of the world
combined...fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc.,are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummar...
http://www.albertpeia.com/112208opocoan/PeiavCoane...
]:
CRIME STATISTICS america is No.1
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s
vows to target financial fraud WP | Obama has promised to hold Wall Street
accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityver...
http://www.albertpeia.com
6/15/2011 11:42:21 PM
PST
Recommend
Recommended by 2 readers
Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
CHINA:
USA 'ALREADY DEFAULTING'...
MERKEL
FALLS ON SWORD; MORE GREEK BAILOUT
'MISERY
INDEX' HIGHEST IN 28 YEARS...
Abandoned Children Found Running Naked Through Jersey City
Streets...
Exposed:
The secret guns sting that backfired on the US...
Carney:
Obama 'Did Not Know About Or Authorize' Gunrunning Op...
PAPER:
2 Top Lawyers Lost to Obama in Libya War Policy Debate...
'Extraordinarily rare'... [ ‘WASHINGTON
— President Obama rejected the
views of top lawyers at the Pentagon and the Justice Department when he decided
that he had the legal authority to continue American military participation in
the air war in Libya without Congressional
authorization, according to officials familiar with internal administration
deliberations. Jeh C. Johnson, the Pentagon general counsel, and Caroline D.
Krass, the acting head of the Justice Department’s Office of Legal Counsel, had
told the White House that they believed that the United States military’s
activities in the NATO-led air war amounted to “hostilities.” Under the War Powers Resolution,
that would have required Mr. Obama to terminate or scale back the mission after
May 20…’ ]
Greek
rating now worst in the world...
CCC...
Likely
Default...
USA in
Even 'Worse Shape Financially Than Greece'...
Protesters
burn American flag during Obama visit to Puerto Rico -- a
U.S. territory...
VIDEO:
Heckled At Miami Fundraiser...
Carney
defends WH meeting with Wall Street donors...
POLL:
Obama Loses to Generic Republican... [ No surprise here! ]
GREECE
FACES DEMAND FOR DEEPER CUTS...
Union
boss: 'Adolf Christie' trying 'to make NJ Nazi Germany'... [ Come on! Let’s get real here! First, corrupt
mob-infested jersey is already that and worse. Second, defacto mob control,
such as it is in jersey, is already facist which ultimately is what totalitarian
regimes are all about, be they right or even left. ]
STUDY:
Land of the Free? NY, NJ, CA come out at bottom of individual freedoms...
THE
FALL OF GREECE...
Deal
fails to ease contagion fears; Spanish borrowing costs hit 11-year highs...
Russia,
China warn West against Arab interference...
NSA,
Internet Providers Teaming Up To Monitor 'Web Traffic'...
Ill. so
broke considers ads on license plates...
Eurozone
'heads for break up'...
BOEHNER
GIVES OBAMA ULTIMATUM ON LIBYA
'In
five days, the administration will be in violation of the War Powers
Resolution' on Libya...
THE
OTHER WAR: Secret US, Afghan talks could see troops stay for decades...
US
Housing Crisis Now Worse Than Great Depression...
Since
stimulus passed, 1.9 M fewer
Americans working...
REPORT:
Gold headed for $5K an ounce...
OPEC
sees risk of price rise, shortage...
Obama on Weiner: 'I would resign'...
Earlier:
Sex Twittering Dem a 'Distraction'...
Will
keep $174,000 salary while in rehab...
POLL:
Just 26% Favor Continued Military Action in Libya...
UK
Navy chief: Britain cannot keep up its Libya role...
Vancouver
Rocked By Stanley Cup Riot... [Congratulations
to the Boston Bruins! ]
150
hospitalized...
Hockey
dream turns nightmare... [ As with inherently criminal americans, my
experience with canadians has not been good at all! ]
SHOCK
VIDEO: Crowd stomps man who tried to stop looting...
DALLAS
MAVS SHUT DOWN THE HEAT... [ Congratulations
to the Dallas Mavericks! ]
REPORT:
Stocks Face Rocky Week...
DOW
FALLS BELOW 12,000...
Six-week
losing streak longest since Oct 2002...
Nasdaq
Turns Negative for Year...
Fed to
Announce 'Final Bond Purchases' Today...
Another
Housing Drop Predicted...
STUDY:
Most Americans 'won't be able to retire until their 80s'...
Cash-strapped
states considering online lottery sales...
GALLUP:
OBAMA BACK UNDERWATER 45/46...
PA
2008: OBAMA 55%; 2011: 41% APPROVAL...
FLA:
Trouble in Paradise...
MURDER
CONVICTION TOSSED OVER 'RACIST' COMMENTS... [ Ridiculous! ]
Swiss
Politicians To March On Bilderberg, Demand Arrest Of Kissinger...
Italian
Politician 'bloodied' sneaking into hotel...
ECONOMIC 'HORROR' AS DATA PLUNGES
Dow
Has Longest Weekly Slump Since '04...
Housing
prices fall 'beats Great Depression slide'...
CHICAGOLAND:
Flash Mobs Attack 2 Men...
WAR
NO. 4: USA INTENSIFIES SECRET YEMEN AIRSTRIKES
Chicago
rapper calls Obama 'biggest terrorist' in US...
Poll:
Obama approval rating drops as fears of depression rise...
OBAMACARE
GOES TO COURT...
Judges
suggest they may be ready to declare law unconstitutional...
...Express
unease with gov't forcing Americans to buy health care
Random
mobs run wild in Chicago...
TARGET
CITY BUSES...
Victims
seriously injured...
NYT: SAUDIS
SPENDING $7K PER CITIZEN TO AVOID OVERTHROW OF KINGDOM... DEVELOPING...
OBAMA
OFFERS BAILOUT $$ FOR GREECE...
POLL:
Only 24% Say They Share President's Political Views...
Nearly
half of Americans fear another Great Depression...
OPEC
BREAKDOWN, NEW OIL SPIKE...
FED:
Economy falters in several US regions...
Lack
of buyers may force Treasury to boost interest rates...
China
overtakes USA as top energy consumer...
Warns
debt-default idea is 'playing with fire'...
Fitch
to review US debt rating...
TAX
FURY IN ATHENS AS GOV'T FACES DEBT
'Bankrupt'
claim heightens Spanish debt fears...
9.1%
MAY JOBS: +54,000...
MCDONALD'S
hired half...
Fears
stoked of a 'double-dip'...
CBO:
True Cost of Fannie, Freddie Bailouts $317 Billion, Not $130 Billion Obama
Claims...
Taxpayers
Still Bailing Out Banks...
WH:
'Bumps on the road to recovery'...
O
gets booed...
LET'S
GOLF ABOUT IT
China
Divests 97% of Holdings in US Treasury Bills...
DOOM: More
Americans Think Economy Will Never Recover...
GOP
sees Obama as increasingly beatable...
Recovery
Languishing as Americans Await Signal of Better Times...
Congress
Delivers Obama 'Stunning Rebuke on Libya'...
Weiner
withdraws from speaking engagement...
Dow
tumbles 280 points...
Private Sector Jobs Grew By Only 38,000 in May...
Planned
Layoffs Up...
Manufacturing
Slows...
MOODY'S:
US Rating Could Be Placed Under Review...
Greece
goes further into junk territory; MOODY'S downgrades...
AP:
Consumer confidence falls 'unexpectedly' in May...
BARONE:
Pro-Obama media always shocked
by bad economic news...
Home-price
index at lowest point since 2006 bust...
'Double-Dip'
Even Worse Than Expected...
GOLDMAN
SACHS: $5 gas this summer...
Number
of federal-owned limousines has soared under Obama...
Obama
bailout of GOV'T MOTORS to cost taxpayers at least $14 billion...
Obama
solicitor general: Don't like healthcare mandate, earn less money!
REPORT:
Senate's 100 members spend $40M for 700 offices nationwide...
7
'NATO troops' killed Thursday were American...
British
Health Care Program in Grave Peril...
Netanyahu:
Israel cannot prevent UN recognition of Palestinian state...
First
ID'ed as 'Int'l Security Assistance Force service members'...
Deadliest
day this year...
WARS
RAGE ON...
U.S.
Dead in Afghanistan Tops 1,500...
OBAMA
HITS GOLF COURSE FOR ROUND NO. 70...
ON
THE GROUND IN LIBYA
Anti-Christian
Violence Continues in Pakistan...
UPDATE:
MIAMI 'WAR ZONE' DURING URBAN WEEKEND...
'I
was scared for my life'...
Poet
'Da Real One' Gunned Down In Front Of Miami Poetry Cafe...
Violent
crime explodes in Myrtle during Black Bike Week; 8-hour hell...
Rib
Fest At Rochester beach turns rowdy...
Riot
On Long Island...
Urban
Melee In Charlotte...
Chaos
causes DNC concern for convention...
Unruly
urban crowd shuts down Nashville water park...
Emanuel
shuts down packed Chicago beach; 'heat-related illnesses'...
REPORT:
'Dozens of gang bangers'...
TEEN
GANGS UNLEASHED ON BOSTON BEACH
WHO: Radiation From Cell Phones Can Cause Cancer...
In same category as lead, engine exhaust,
chloroform...
VIDEO:
Woman Screams For Help After TSA Molestation...
WEINER
ROASTED... [ Ah, yes. Weeny
roast indeed. The end of a saga as Tony Weiner resigns. Truth be told, I’m a
bit surprised. After all, as stated in a soundbite of a new york voter, ‘they
(the rest of congress) are worse than him!’ Difficult to dispute. The truth,
that is. Kind of like that scene in
‘Road to Perdition’ of mob boss Newman’s retort to hitman Hanks, ‘there are
only murderers in this room’. Point well-taken. After all, they backed bush’s
war crimes, covered up wall street’s crisis-causing frauds in the trillions
even to this day, are venal and corrupt even as they scoffed at
straight-shooters as Ross Perot who highlighted what is now recognized as gross
incompetence, extended their tainted touch to the quid pro quo federal courts,
etc.. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
Press
conference turns into circus...
NO HUMA...
MSNBC
Host: 'Reminded me of Saddam Hussein hanging'...
REPORT:
Could Run For Seat Again in Upcoming Special Election...
Congressman
Joins Jobless Ranks...
...Approached
for 'Entourage' Cameo
NEW
PHOTOS: Weiner Used Congressional Gym As 'Sexy' Backdrop...
Entering
'psychological treatment center'...
PELOSI:
OUT... DNC
BOSS: RESIGN...
Boehner
gets laughs with quip...
PELOSI:
You gotta' go...
DNC BOSS: RESIGN...
Chorus
to quit grows...
WEINER
WON'T GO
Cops
probe texts to teen girl...
MSG:
'Large. Tights and cape'...
Weiner
admits, says they were harmless...
Rangel
defends: 'He wasn't going out with little boys'...
THE NEW TACK: Dem rep sick, needs treatment to 'make himself
well'...
New
X-rated Weiner photo hits web...
Weiner:
That's my weiner, too...
Another
Weiner Sexter Emerges...
POLITICO
on Weiner: 'Dam is breaking'...
DEMS
BAILING...
Old
Flame Calls on Him to Quit... ‘…he transcript of a nine-month "sexting"
relationship Weiner had with a Las
Vegas blackjack dealer. Radar Online posted the transcript, and it is rife
with misogyny and distorted views about women. In referring to oral sex, Wiener
tells her, “You will gag on me before you c** with me in you” and “[I’m]
thinking about gagging your hot mouth with my c***.” This is not about sex.
It’s about dominating and inflicting physical pain on a woman, a fantasy the
hard-core porn industry makes billions of dollars on selling to men. You don’t
want to gag a woman with your penis unless you have some serious issues with
the way you see women. As for his
other views of women, he tells her, “I hear liberal girls are very, uh,
accommodating of other[s],” playing on a bogus stereotype that politically
liberal women are promiscuous. When he asks the woman, who is Jewish, “You give
good h**d?” and she says yes, he exclaims: “Wow a Jewish girl who sucks c***!
this thing is ready to do damage.” ‘[ What a total mental case! ]
REPORT:
Weiner coached woman to lie...
TMZ:
Offered PR help...
Dems
Begin Peeling Off...
Breitbart
says he has X-rated photo...
WHACKED,
NOT HACKED!
'Used govt. resources'...
Breitbart:
'I Want To Hear Truth'...
6
'inappropriate' relationships...
ABCNEWS:
Mystery Woman Revealed...
HER
STORY...
Risqué
Online Chats, Photo Swaps...
SLIDESHOW...
VIDEO:
'Web of lies'...
TWITTER TEARS: WEINER ADMITS
REPORT:
Woman claims to have 200 explicit messages from NY Dem...
IT
MIGHT BE MY WEINER! REPORT:
WEINER'S TALE UNRAVELING... By Daniel Libit Sunday, June 5, 2011 ‘As the world has attempted to
make sense of Rep. Anthony Weiner’s claim that his Twitter account was hacked,
a key clue has been missing: exactly how the notorious groin pic was posted
online. But according to data provided exclusively to The Daily from
TweetCongress.org, a nonprofit website that captures each member of Congress’s
Twitter feeds in real time, the shot seen round the world was transmitted using
TweetDeck — a popular Adobe desktop application that links up with social
networking sites. A review of Weiner’s Twitter stream from May 27, the day of
the crotch pic, shows that Weiner had been posting only from TweetDeck — one of
many ways to post messages to Twitter — that entire night. Chet Wisniewski, a
senior security adviser at security software company SophosLabs, said the
TweetDeck stamp “does make it more plausible that it did come from him.” Weiner
used TweetDeck frequently, but he often also posted from the Web directly or
from his BlackBerry. A widely
circulated explanation for how Weiner’s Twitter account could have
been hacked by email would also seem to be incompatible with the fact that the
message in question originated on TweetDeck. If email had been used, the
message probably would have originated via the photosharing site Yfrog, where
the infamous picture was posted …’ [ Weiner admits he sent lewd picture; won't quit (AP)
- After days of denials, a choked-up Rep. Anthony Weiner confessed Monday
that he tweeted a photo of his bulging underpants to a young woman, and he also
admitted to "inappropriate" excha...’
Tearful US congressman admits to crotch photos (AFP) ]
'This
Could Be The End For Him'...
’Pot Calls
Kettle Black’: Donald Trump Unloads on Anthony Weiner: "He's a Psycho" - Donald Trump has a new target, and boy does
he look pleased. "The fact is, Anthony Weiner is a bad guy," the
Celebrity Apprentice honcho, who recently decided against running for...
'Have
You Ever Taken A Picture Like This Of Yourself?'...
WEINER
CALLS COPS ON CBS WASHINGTON (CBSNewYork)
— ‘Congressman Anthony Weiner said Thursday he’s finished talking about the
lewd photo sent from his Twitter account.But he still wouldn’t say whether
he’s the one in the picture.So CBS 2 political reporter Marcia Kramer
decided to go to his office on Capitol Hill to try to get you some
answers.You’ll never believe what happened.Kramer tried to get an interview
with the six-term New York Democrat and as a result had the cops called on
her.Kramer walked in to Weiner’s office, announced herself as being from CBS 2
in New York City and said she’d like to see the congressman. Those few words
created quite the stir. Doors slammed and people pretended she wasn’t there
...’ Weiner’s
efforts don’t cool furor The
congressman said that he didn’t send a lewd photo on Twitter but also that he
couldn’t “say with certitude” whether the image was of his own crotch.
(Washington Post) [ ‘Weiner’s weiner’!
‘Not cool furor’ … how ‘bout just plain ‘not cool’. Eh … what can you expect
from national drain / sinkhole new york (new york / new jersey metro). I
haven’t read but probably agree with the following article: Listen
up, fellas: Naked man-parts? Not so sexy. (Washington Post) / … Even Mr.
Milbank weighs in: ‘The
Weiner roast Congressman finds
himself in a fight he does not relish.’ Report:
SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec liar
(sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ John
Cummings
(Author), Ernest
Volkman (Author) Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t, etc.,
are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]:
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Wall Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press” climaxed Sunday with a startling market prognostication from David Brooks, conservative columnist for the NY Times. The risk of a debt default over the combustible issue of the Medicare deficit hangs over the course of the stock market. Buyers Beware!“I was up in Wall Street this week,” Brooks said. “They’re vastly underestimating the source of piolitical risk here. We could have a major problem, I think, either this summer or the next couple years. And I’d be worried about investing too much in the market. That’s my financial advice.”…’ Another Financial Crisis Is On The Way, Mobius Says STOCKS HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of Economic Decline In America ‘The US is in the middle of a devastating long-term economic decline..’ ] States face shortfall for retirees (WP) Public workers’ retirement funds had a gap of $1.26 trillion at the end of fiscal 2009 Study: Affordable rentals scarce (WP) Poll: For Obama, low marks on Afghan war (WP) More Americans disapprove of President Obama’s management of the war in Afghanistan than support it Fuel prices cut into Obama popularity (WP) (The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast turmoil to obfuscate their failure. Davis ‘This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘ Dave's Daily 'If you can keep interest rates this low this long, its inevitable cheap financing can allow companies to start cobbling each other up. Further Ben's policies allow companies like IBM to sell bonds at 1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost daily and Primary Dealers can buy back their shares and pay dividends with what essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you still can since there's much worse to come!
Where
Is The Recovery? I Cannot Seem To Find It Tony Pallotta | If the US government reduced spending by
40% today, right this second we still could not put a dent in a $12 trillion
national debt.
Sen.
Sanders Spurs Return to ‘Made in America’: Says U.S. Future Depends on It The Daily Ticker [Who would be foolish enough to say
Sen. Sanders’ heart isn’t in the right place from the perspective of a u.s.
senator. Yet, who would be so foolish as to not realize how foolish such a
statement is in evincing a clear lack of understanding in terms of business,
tooling, retooling, investment and return on investment, minimum or less wages,
etc., and decades if at all to accomplish. The reality is that they can’t
unring the bell that they themselves rung, even laughing as they did so at, for
example, Ross Perot who admonished all. The futility of the belated rhetoric is
that it can’t be accomplished in the foreseeable future that counts. ]
[video]Trader:
Dow Could Drop to 10,500 TheStreet.com
TV
Curious as to what might
be buried in The Vault,
I’ve recently spent a bit of time there. Frankly, it’s been fascinating.
Here are some of the listed categories of documents:
- Administrative
Policy Procedures
- Anti-War
- Bureau Personnel
- Civil Rights
- Counterterrorism
- Foreign
Counterintelligence
- Fugitives
- Gangs Extremist
Groups
- Gangster Era
- Hot Topics
- Miscellaneous
- Organizations
- Organized Crime
- Political
Figures Events
- Popular Culture
- Public Corruption
- Supreme Court
- Unexplained
Phenomenon
- World War II
- Violent Crime
Going from the sublime
to the ridiculous, we find this entry:
In 1963, a rock group
named the Kingsmen recorded the song “Louie, Louie.” The popularity of the song
and difficulty in discerning the lyrics led some people to suspect the song was
obscene. The FBI was asked to investigate whether or not those involved with
the song violated laws against the interstate transportation of obscene
material. The limited investigation lasted from February to May 1964 and
discovered no evidence of obscenity.
Among the folks featured
in the Popular Culture
category are Elizabeth Taylor, Rock Hudson, Jimi Hendrix, the
Monkees (Apparently the FBI thought that this subversive “combo”
described as dressing “beatnik like” were projecting subliminal anti-war
messages during their concerts),
Sonny Bono (Sonny Bono??? Yup!), Lucille
Ball (Lucy has a 156-page file suggesting she was a registered
Communist from 1936 to 1938. You got some ‘splainin’ to do Lucy!), Walter Cronkite (Cronkite? Really?? Uh huh), Groucho Marx (Perhaps Karl
Marx was part of the original Marx Brothers?), George Burns, Colonel Sanders (The Kentucky Fried
Chicken Guy? Yeah, he has a file too), Rocky Marciano, Marilyn Monroe,
Helen Keller (Nah, ya gotta be kidding me with this one. Nope — there are some
45 pages concerning allegations of her Communist sympathies. Maybe the “Miracle
Worker” was supposed to be the “Miracle Workers of The World Unite!”), the Doors, the Beatles, Frank Sinatra, and far too
many more to mention.
What other
fascinating tid-bits are in The
Vault? How about this gem:
In 1988, two FBI offices
received similar versions of a memo titled “Operation Majestic-12…” claiming to
be highly classified government document. The memo appeared to be a briefing
for newly-elected President Eisenhower on a secret committee created to exploit
a recovery of an extra-terrestrial aircraft and cover-up this work from public
examination. An Air Force investigation determined the document to be a fake.
Then there was a truly
intriguing one-page
document – a memo from Mr. Guy Hottel (apparently a Special Agent
in Charge (“SAC”) in Washington, D.C.), dated March 22, 1950, titled
“Flying Saucers: Information
Concerning” :
The following
information was furnished to SA [redacted]:
An investigator for the
Air Force stated that three s0-called flying saucers had been recovered in New
Mexico. They were described as being circular in shape with raised
centers, approximately 50 feet in diameter. Each one was occupied by
three bodies of human shape but only three feet tall, dressed in metallic cloth
of a very fine texture. Each body was bandaged in a manner very similar to the
blackout suits used by speed flyers and test pilots.
According to Mr.
[redacted] informant, the saucers were found in New Mexico due to the fact that
the Government has a very high-powered radar set-up in that area and it is
believed the radar interferes with the controlling mechanism of the saucers.
No further evaluation
was attempted by SA [redacted] concerning the above…’
S&P
500, Russell 2000 ETFs Also Close To Breaching 200-Day Technical Warnings at Barrons.com
The Dow, up 64 points
today, is now 10 points higher on the week, barely avoiding a rare seven-week losing streak, but still not nearly out of
the woods yet.
The internals of the
market were uglier than the headlines. Decliners on the NYSE outnumbered
advancers 1668 to 1367. Declining volume was 51% of the total, while advancing
volume was 47%.
The S&P 500 was up
just 2 points today and is just slightly lower on the week, with one trading
day left.
The Nasdaq finished down
8 points and is now 1.1% lower for the year — not a great sign, if you think
tech stocks lead the way for the rest of the market.
The Dow transports, too,
are slightly lower for the year, as is the Russell 2000.
On the brighter side,
financials were among the better performers today, up 0.6%.
But the best performers
were defensive sectors, and the worst were cyclicals such as tech and consumer
discretionary.
Volume was low, the VIX
surged again and Treasury yields ended at their lowest level of the year, at
2.91%.’
3 Reasons Why Thursday’s Markets Were Mixed After Greek Lows Wall St. Cheat Sheet June 16, 2011 Markets closed mixed on Wall Street: Dow +0.54% , S&P +0.18% , Nasdaq -0.29% , Crude +0.2% , Gold +0.12% .
On the commodities
front, Oil (NYSE:USO) barely moved to close at $95 a barrel, while precious
metals were mixed with Gold (NYSE:GLD) adding a couple bucks to $1,527 and Silver
(NYSE:SLV) dropping a bit.
Our New Stock Picks are Here: Check Out
Today’s markets were
mixed because:
1) Banks caught in the
middle. Normally the top banks (NYSE:KBE) are birds of a feather, all in the green or all
in the red. But today they’re all over the map with Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC) showing gains today while Citigroup (NYSE:C) and JPMorgan (NYSE:JPM) suffered losses. Don’t Miss: How
Badly Will a Greek Default Hurt US Banks?
2) How do you solve a
problem like Greece? It’s as if everyone’s been waiting for Greece to implode
or break off and float into the Mediterranean Sea. Instead, bad news steadily
trickles in manageable doses. No restructuring yet, no default. The euro,
though down, is still trading above where it was last summer. People are frozen
in their tracks, wondering whether to run scared or wait it out. It’s like
watching a train wreck at 15 miles per hour.
3) Indecipherable data
reports. Yesterday the National Association of Homebuilders (NYSE:XHB) told us confidence
was down for June, but then today we hear from the Commerce Department that
housing
starts, building permits, and housing completions were all up last month.
Jobs data shows a 16,000 decrease in
jobless claims, which is good news, but jobless claims still remain over
400,000, which is bad news. People are looking for economic cues from these
reports and just aren’t getting a solid answer. Some things are getting worse,
some are getting better, and everything is moving slowly…’
Why Your Money-Market Fund Could Be Hit by Greek Default CNBC | Some of the safest, plain-vanilla investment accounts in the U.S. could be challenged if Greece defaults on its sovereign debt.
Greeks
Strike, Clash With Police Over Austerity Reuters | Stone-throwing Greeks clashed with police and
tens of thousands of protesters marched on parliament on Wednesday.
Gold
May Advance on Inflation Concern, Sovereign-Debt Crisis in Europe Bloomberg | Gold may gain for the
first time in three days.
alpeia wrote
Stocks tumble on news
from Greece http://www.washingtonpost.com/business/economy/prices-rise-in-may-triggering-inflation-concerns/2011/06/15/AGMBoFWH_allComments.html?ctab=all_&#weighIn Wall Street lost its footing after a rebound
from six weeks of consecutive losses. (Washington Post) [ If that were only
true as the reason for the tumble. After all, u.s. stocks have been
unaffordably and artificially propped up and overvalued far beyond rationality
in seldom seen bubble-territory. The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed… an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Selling In May Is Very Good Advice This Year Harding Remember:
Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘
‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock Market:
4 Current Warning Signs ‘ Dave's Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is
occurring almost daily and Primary Dealers can buy back their shares and pay
dividends with what essentially is taxpayer money--America Is a Failed State
Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim
economic reality [ http://albertpeia.com/grimreality.htm
]. Selling In May Is Very Good Advice This Year Harding / Equity Valuations Are
Forming the Second Biggest Bubble in U.S. History Kaspar ... According to Yale
University’s Dr. Robert Shiller, the market is now 41% overvalued …only time
the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/s...
Navin 1) The 5-year high in the level of insider corporate stock sales is
telling. At 565 sells for every 1 buy, it’s never been higher..extraordinarily
high, one might even say off-the-chart.
Report: SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec
liar (sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in pervasively
corrupt, defacto bankrupt, fallen america. Indeed, the scenario typifies that
national drain / sinkhole new york (new york / new jersey metro) where, for
example, FBI informants were routinely exposed by ‘italians’ in the new york
d.a.’s office over the objection of the FBI, and were promptly
‘dispatched’/assassinated / hit by mafia / organized crime [ this was
documented with authority in the book ‘Goombata: The Improbable Rise and Fall
of John Gotti and His Gang’ Cummings, Volkman http://www.albertpeia.com/112208opocoan/ricosummar...
http://www.albertpeia.com/112208opocoan/PeiavCoane...
http://www.albertpeia.com
Today 6/16/2011 12:08:23
AM PST
alpeia wrote
U.S.-Pakistan
relationship in danger http://www.washingtonpost.com/national/national-security/arrest-indicates-pakistan-leaders-face-rising-pressure-to-curb-us-role/2011/06/12/AGrSi2VH_story.html The relationship is likely to deteriorate
further as Pakistani officials including Army chief Gen. Ashfaq Kiyani come
under pressure, endangering counterrorism programs. (Washington Post) [
U.S.-Pakistan? If it was only ‘U.S.-Pakistan’ as opposed to U.S. and the rest
of the world beyond war crimes nation and u.s. ward israel, and the defacto
bankrupt as america EU, one might say at least a little progress on the
‘non-foreign policy’ front. Yet, that’s but a dream thanks
to war mongering neo-cons, zionists, and so-called change-meister, failed
president as bush, ‘wobama the b’ for b***s***. Drudgereport: OBAMA: WHAT WAR
IN LIBYA?
'No exchange of fire with hostile forces'...
Lawmakers Sue...
Price tag projected to be $1.1 Billion this year...
AHMADINEJAD JOINS CHINA, RUSSIA AT SUMMIT...
IRAN PRESIDENT CALLS FOR ALLIANCE AGAINST WEST...
Greece Crippled by Protests, Strike Over
Austerity...
Likely Default...
USA in Even 'Worse Shape Financially Than Greece'...
Protesters burn American flag during Obama visit to Puerto
Rico -- a U.S. territory...
VIDEO: Heckled At Miami Fundraiser...
Report: SEC lawyer exposed FBI informant (Washington Post)
[ Clearly, the sec liar (sic – lawyer) is one of those typically with a ‘pre or
post’ arrangement, whether implicit or explicit; you know, that ubiquitous
‘bribe thing’ in pervasively corrupt, defacto bankrupt, fallen america. Indeed,
the scenario typifies that national drain / sinkhole new york (new york / new
jersey metro) where, for example, FBI informants were routinely exposed by
‘italians’ in the new york d.a.’s office over the objection of the FBI, and
were promptly ‘dispatched’/assassinated / hit by mafia / organized crime [ this
was documented with authority in the book ‘Goombata: The Improbable Rise and
Fall of John Gotti and His Gang’ Cummings, Volkman
Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers, http://www.albertpeia.com/realifeamericaserialkill...
bankrupt america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummar...
http://www.albertpeia.com/112208opocoan/PeiavCoane...
]:
CRIME STATISTICS >(america is No. 1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore
cases that involve black defendants and white victims ' Cases against Wall
Street lag despite Holder’s vows to target financial fraud WP | Obama has
promised to hold Wall Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityver...
http://www.albertpeia.com
6/15/2011 11:35:48 PM
PST
alpeia wrote
Deja Vu of dot-com
bubble http://www.washingtonpost.com/business/economy/pandora-ipo-feeds-fear-of-dot-com-bubble/2011/06/15/AGaZrWWH_allComments.html?ctab=all_&#weighIn Pandora’s IPO success is making observers
worried about a return to the dot-com bubble of the 1990s. (Washington Post) [
Dot-com bubble of the 90’s sounds like wishful thinking, as bad as that was.
More like, Equity Valuations Are Forming the Second Biggest Bubble in U.S.
History Kaspar According to Yale University’s Dr. Robert Shiller, the market is
now 41% overvalued …only time the markets have been more overvalued .. 1929
& tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/s...
Navin 1) The 5-year high in the level of insider corporate stock sales is
telling. At 565 sells for every 1 buy, it’s never been higher.. Sell On The
Rallies- Don't Buy On the Dips at Forbes Robert Lenzner [ I quite agree with
Mr. Lenzner who has resisted through sound judgment the temptations and
implicit pressures of the herd mentality on wall street. After all, bulls are
cattle and hardly known for their brain power. ] ‘ Don’t listen to all the
money managers selling their wares on tv. Unfortunately, this is a watershed
moment for investors again– and I’m feared all the negatives in the world are
seeming to overwhelm. We are in midst of 7th straight week down.QE2 will end in
15 days– and it played a strong support system for equities– up 25%, oil, up
25% and gold, up 25% ever since September, 2010 when Fed Chairman Ben Bernanke
signaled he wanted to increase the wealth on paper of investors.If equities are
on the way down– and the rout today overwhelmed the gains yesterday– then you
will experience the double whammy of stocks and homes losing value at the same
time– to what extent nobody knows. Money center banks like Bank of America
certainly face write-downs from their huge portfolio of home mortgages.. Just
because cash is yielding nothing is no good reason to be 100% invested in
common stocks.’
Report: SEC lawyer exposed FBI informant (WP)[ Clearly, the sec liar
(sic–lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen america. Indeed, the scenario
typifies that national drain / sinkhole new york (new york / new jersey metro)
where, for example, FBI informants were routinely exposed by ‘italians’ in the
new york d.a.’s office over the objection of the FBI, and were promptly
‘dispatched’/assassinated / hit by mafia / organized crime [ this was documented
with authority in the book ‘Goombata: The Improbable Rise and Fall of John
Gotti and His Gang’ Cummings, Volkman http://www.albertpeia.com/112208opocoan/ricosummar...
http://www.albertpeia.com/112208opocoan/PeiavCoane...
http://www.albertpeia.com/currentopics2ndqtr10108....
http://www.albertpeia.com
Today 6/16/2011 12:04:10
AM PST
alpeia wrote
White House defends
Libya action http://www.washingtonpost.com/politics/obama-administration-libya-action-does-not-require-congressional-approval/2011/06/15/AGLttOWH_allComments.html?ctab=all_&#weighIn The administration’s stance puts it at odds
with GOP leaders and some anti-war Democrats. (Washington Post) [ Well, the
defacto bankrupt u.s. can afford it! After all, we’re talking, Drudgereport:
FLASHBACK: Obama: U.S. Involvement Would Last 'Days, Not Weeks'... OBAMA FIGHTS
FOR HIS RIGHT TO BOMB LIBYA... Deadliest day this year... WARS RAGE ON... U.S.
Dead in Afghanistan Tops 1,500... , days, not weeks.
NATO sliding towards Libyan ground war: Russian envoy (Reuters) ‘Libya war
driven by O.I.L.: Oil, Israel & Logistics’ – McKinney to RT As NATO attacks
continue in Libya, ex US Congresswoman and former presidential candidate
Cynthia McKinney went to the country on a non-governmental fact-finding mission
to see what exactly is going on in the war-torn country. Lawmakers sue
President Obama over Libya A bipartisan group of House members announced on
Wednesday that it is filing a lawsuit charging that President Obama made an
illegal end-run around Congress when he approved U.S military action against
Libya. 90% of Petraeus’ Captured ‘Taliban’ Were Civilians Lawmakers push for a
new Afghan strategy (WP) [ It seems they’ve taken Robert Browning to heart;
viz., that ‘a man's reach should exceed his grasp’ (from a poem by Robert
Browning). Indeed, they search for that ever elusive thing called ‘strategy’
vis-à-vis the so-called ‘Afghan mission’ for the umpteenth time. For them, this
is but a ‘mission impossible’ as a strategy implies method to this reality of
their madness.The heroin trade which they’ve ramped up (the Taliban had all but
eradicated same) and commandeered as their own has been reason enough; yet, fog
of war creates many opportunities for the american criminals despite the
defacto bankruptcy of the nation. So, for the war criminal americans, reality
certainly falls within the ambit of beyond their grasp. Though having but 5% of
the world’s population, the u.s. has 76% of the world’s serial killers, http://www.albertpeia.com/realifeamericaserialkill...
bankrupt america also spends more on military than all the nations of the world
combined...fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc.,are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummar...
http://www.albertpeia.com/112208opocoan/PeiavCoane...
]:
CRIME STATISTICS america is No.1
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE‘ignore cases that involve black
defendants and white victims ' Cases against Wall Street lag despite Holder’s
vows to target financial fraud WP | Obama has promised to hold Wall Street
accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityver...
http://www.albertpeia.com
6/15/2011 11:42:21 PM
PST
Recommend
Recommended by 2 readers
And sure, regular
investors can make plenty of mistakes when it comes to investing.
But here's what the Wall
Street pros don't tell you: They aren't a whole lot better. I sometimes wonder
if they know anything more than the rest of us.
Yesterday two separate
reports landed on my desk. Both showed how the big money honchos have been
handling your savings and investments.
The findings? You
probably don't want to know.
According to the latest
monthly survey from Bank of America Merrill Lynch, these professional money
managers now think gold is "more overvalued than at any time since
December 2009." Those are Merrill's exact words.
In December, 2009, gold
hit a high of $1,170 an ounce.
Today? Oh, $1,515.
That's an annualized return of 19%.
You couldn't make it up.
So much for "overvalued."
According to Merrill
Lynch, these professional money managers have been saying gold is overvalued
for years completely missing the massive bull market of the past decade.
Merrill's latest survey
includes data for the past two years, as gold has nearly doubled. During that
time these professional investment managers have called gold actually cheap
just once, in January 2009. Every other month they've said: "Oh, it's
overvalued."
It was
"overvalued" in May 2008 at around $880 an ounce. It was
"overvalued" in June 2009 at around $930. It was
"overvalued" in early 2010, and it was still "overvalued" a
year ago at around $1,200 an ounce. And it's still "overvalued" today.
Merrill says it no
longer has data going back earlier, but if my memory serves, the big money
honchos were saying the same thing about gold in earlier years, too. It stands
to reason, too, as when gold was $300 or $400 or $500 an ounce, none of them
owned it. And I paid some attention to Merrill's findings on the subject,
because I happened to be the person who first suggested they start asking about
gold, way back in 2004.
To be fair, money
managers haven't been completely useless guides to gold. December 2009, when
they said it was really, really overvalued, they had half a point. Gold had
just had a big run, and was due a correction. It then fell 10%.
And maybe we're in the
same situation now. Gold's had a good run so far this year, and summer is
traditionally a weak time in the gold market, so maybe you'll get a better deal
if you wait a bit, though there are no guarantees.
If this were just about
gold, it wouldn't matter so much.
But over the past
decade, money managers have been making an equally bad call about a much bigger
asset class: bonds.
Merrill data show they
have been calling bonds "overvalued" consistently since at least
2002.
And they've been singing
the praises of stocks instead.
Meanwhile, over nearly
all of that time, it was generally a far smarter move to have your money in bonds
than stocks. The Vanguard
Total Bond Market Index Fund, for example, has made you nearly twice the
profits of the Total
Stock Market Index Fund with far fewer the ulcers.
This is what we're
paying the big bucks for? These guys have been loaded up to the gunwales with
stocks, holding too few bonds, and no gold, for a decade. Nice move.
I've noted before that,
on occasions, their collective gaffes have been mind-boggling. They dumped
their last remaining Japanese stocks right at the lows, in April 2003. Then
they loaded up again in 2005, after Japanese stocks had already boomed, before
bailing yet again. In June 2007, they fell madly in love with European stocks,
and loaded the boat. Merrill called it "EU-phoria." European stocks
then crashed.
Now let's turn to
yesterday's second report, from pension consultants Mercer. It looks at how big
company retirement plans are managing their investments.
And it turns out not
owning gold is the least of their problems.
Mercer looked at all the
final salary plans run by Standard & Poor's 1500 companies.
Bottom line? Many of
these funds are still significantly underfunded. Even after the gerrymandered
stock market "boom" of the past two years, they have only enough
assets to cover 83% of their liabilities.
"Despite employer
contributions of $77 billion and aggregate asset returns of $156 billion (a 12%
median rate of return), pension deficits decreased by only $8 billion during
the fiscal year," says Eric Veletzos, the Mercer principal in charge of
the study.
An $8 billion
improvement compared to total pension liabilities of $1.7 trillion. It hardly
inspires confidence. And that's after a big rally.
Meanwhile, says Mercer,
the aging Baby Boomers are nearing retirement and many plans "may be
nearing the end of their 'growth' or 'accumulation' phase and transitioning to
a 'spend-down' phase." Oh, happy day.
So managers are doing
what you'd expect in situations like this. They are pinning their hopes on big
stock market gains, and hoping for the best.
Typical funds are
counting on investment returns between 7% and 8% a year, reports Mercer.
There's just one problem: Many of them are also holding lots of low-risk,
low-return bonds. In some cases they are holding half, or even two-thirds, of
their entire portfolios in bonds.
And yet they are still
expecting overall investment returns of 7% to 8%.
Hmm. Ten-year Treasury
bonds yield a mere 3%. Even long-term AA-rated corporate bonds yield only about
5.3%, according to Barclays Capital. So if half your portfolio is in
investments like these, how do you get 7% or 8% overall? Easy. You just tell
people stocks will give you 8%, 9%, even 10% a year.
Good luck with that.’
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
National /
World
U.S. helicopters fire on attackers in Iraq oil hub Reuters | U.S. military helicopters fired on suspected militia fighters in southern Iraq on Wednesday, killing one, in a rare American air strike responding to a rocket attack on an airport.
We
Suffered a Fukushima-Style Melt-Through In the Global Financial System in 2008
… But Nothing Has Been Done to Fix It As I noted in April, the Japanese
nuclear disaster and financial crisis were caused by the exact same thing:
removing all of the safeguards in order to save money. / Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billiions from the fraud ).
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall Street accountable for the
meltdown.
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Biden-led
deficit talks resume [ ‘Lobotomy Joe’? Well that engenders confidence …
Riiiiight! ] Looking
for Medicaid savings Faced with severe budget problems, Republican
governors are escalating their fight against federal rules requiring states to
maintain current levels of health-care coverage for the poor and disabled.
(Washington Post) [S&P
downgrades GreeceIt now has the world’s lowest debt grade, and S&P said
a restructuring looks “increasingly likely.” (Washington Post) [ As dire as the
Greek predicament is, some very distinguished experts say: Drudgereport: USA in
Even 'Worse Shape Financially Than Greece'... CHINA:
USA 'ALREADY DEFAULTING'...
TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
Greek
rating now worst in the world...
CCC...
Likely
Default...
Ill. so
broke considers ads on license plates...
Eurozone
'heads for break up'... The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed… an especially great
opportunity to sell / take profits while you still can since there's much worse
to come! Selling
In May Is Very Good Advice This Year Harding Remember:
Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert
Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding
/ Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png Navin ‘…1) The 5-year high in the
level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s
normal for insiders to be selling some of their stocks so they can buy new
yachts and some of this is pre-planned. But that ratio — which has spiked
recently — is extraordinarily high, one might even say off-the-chart.
Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
CHINA:
USA 'ALREADY DEFAULTING'...
Greek
rating now worst in the world...
CCC...
Likely
Default...
USA in
Even 'Worse Shape Financially Than Greece'...
Protesters
burn American flag during Obama visit to Puerto Rico -- a
U.S. territory...
VIDEO:
Heckled At Miami Fundraiser...
Carney
defends WH meeting with Wall Street donors...
POLL:
Obama Loses to Generic Republican... [ No surprise here! ]
GREECE
FACES DEMAND FOR DEEPER CUTS...
Union
boss: 'Adolf Christie' trying 'to make NJ Nazi Germany'... [ Come on! Let’s get real here! First, corrupt
mob-infested jersey is already that and worse. Second, defacto mob control,
such as it is in jersey, is already facist which ultimately is what
totalitarian regimes are all about, be they right or even left. ]
STUDY:
Land of the Free? NY, NJ, CA come out at bottom of individual freedoms...
THE
FALL OF GREECE...
Deal
fails to ease contagion fears; Spanish borrowing costs hit 11-year highs...
Russia,
China warn West against Arab interference...
NSA,
Internet Providers Teaming Up To Monitor 'Web Traffic'...
Ill. so
broke considers ads on license plates...
Eurozone
'heads for break up'...
BOEHNER
GIVES OBAMA ULTIMATUM ON LIBYA
'In
five days, the administration will be in violation of the War Powers
Resolution' on Libya...
THE
OTHER WAR: Secret US, Afghan talks could see troops stay for decades...
US
Housing Crisis Now Worse Than Great Depression...
Since
stimulus passed, 1.9 M fewer
Americans working...
REPORT:
Gold headed for $5K an ounce...
OPEC
sees risk of price rise, shortage...
Obama on Weiner: 'I would resign'...
Earlier:
Sex Twittering Dem a 'Distraction'...
Will
keep $174,000 salary while in rehab...
POLL:
Just 26% Favor Continued Military Action in Libya...
UK
Navy chief: Britain cannot keep up its Libya role...
Vancouver
Rocked By Stanley Cup Riot... [Congratulations
to the Boston Bruins! ]
150
hospitalized...
Hockey
dream turns nightmare... [ As with inherently criminal americans, my
experience with canadians has not been good at all! ]
SHOCK
VIDEO: Crowd stomps man who tried to stop looting...
DALLAS
MAVS SHUT DOWN THE HEAT... [ Congratulations
to the Dallas Mavericks! ]
REPORT:
Stocks Face Rocky Week...
DOW
FALLS BELOW 12,000...
Six-week
losing streak longest since Oct 2002...
Nasdaq
Turns Negative for Year...
Fed to
Announce 'Final Bond Purchases' Today...
Another
Housing Drop Predicted...
STUDY:
Most Americans 'won't be able to retire until their 80s'...
Cash-strapped
states considering online lottery sales...
GALLUP:
OBAMA BACK UNDERWATER 45/46...
PA
2008: OBAMA 55%; 2011: 41% APPROVAL...
FLA:
Trouble in Paradise...
MURDER
CONVICTION TOSSED OVER 'RACIST' COMMENTS... [ Ridiculous! ]
Swiss
Politicians To March On Bilderberg, Demand Arrest Of Kissinger...
Italian
Politician 'bloodied' sneaking into hotel...
ECONOMIC 'HORROR' AS DATA PLUNGES
Dow
Has Longest Weekly Slump Since '04...
Housing
prices fall 'beats Great Depression slide'...
CHICAGOLAND:
Flash Mobs Attack 2 Men...
WAR
NO. 4: USA INTENSIFIES SECRET YEMEN AIRSTRIKES
Chicago
rapper calls Obama 'biggest terrorist' in US...
Poll:
Obama approval rating drops as fears of depression rise...
OBAMACARE
GOES TO COURT...
Judges
suggest they may be ready to declare law unconstitutional...
...Express
unease with gov't forcing Americans to buy health care
Random
mobs run wild in Chicago...
TARGET
CITY BUSES...
Victims
seriously injured...
NYT: SAUDIS
SPENDING $7K PER CITIZEN TO AVOID OVERTHROW OF KINGDOM... DEVELOPING...
OBAMA
OFFERS BAILOUT $$ FOR GREECE...
POLL:
Only 24% Say They Share President's Political Views...
Nearly
half of Americans fear another Great Depression...
OPEC
BREAKDOWN, NEW OIL SPIKE...
FED:
Economy falters in several US regions...
Lack
of buyers may force Treasury to boost interest rates...
China
overtakes USA as top energy consumer...
Warns
debt-default idea is 'playing with fire'...
Fitch
to review US debt rating...
TAX
FURY IN ATHENS AS GOV'T FACES DEBT
'Bankrupt'
claim heightens Spanish debt fears...
9.1%
MAY JOBS: +54,000...
MCDONALD'S
hired half...
Fears
stoked of a 'double-dip'...
CBO:
True Cost of Fannie, Freddie Bailouts $317 Billion, Not $130 Billion Obama
Claims...
Taxpayers
Still Bailing Out Banks...
WH:
'Bumps on the road to recovery'...
O
gets booed...
LET'S
GOLF ABOUT IT
China
Divests 97% of Holdings in US Treasury Bills...
DOOM: More
Americans Think Economy Will Never Recover...
GOP
sees Obama as increasingly beatable...
Recovery
Languishing as Americans Await Signal of Better Times...
Congress
Delivers Obama 'Stunning Rebuke on Libya'...
Weiner
withdraws from speaking engagement...
Dow
tumbles 280 points...
Private Sector Jobs Grew By Only 38,000 in May...
Planned
Layoffs Up...
Manufacturing
Slows...
MOODY'S:
US Rating Could Be Placed Under Review...
Greece
goes further into junk territory; MOODY'S downgrades...
AP:
Consumer confidence falls 'unexpectedly' in May...
BARONE:
Pro-Obama media always shocked
by bad economic news...
Home-price
index at lowest point since 2006 bust...
'Double-Dip'
Even Worse Than Expected...
GOLDMAN
SACHS: $5 gas this summer...
Number
of federal-owned limousines has soared under Obama...
Obama
bailout of GOV'T MOTORS to cost taxpayers at least $14 billion...
Obama
solicitor general: Don't like healthcare mandate, earn less money!
REPORT:
Senate's 100 members spend $40M for 700 offices nationwide...
7
'NATO troops' killed Thursday were American...
British
Health Care Program in Grave Peril...
Netanyahu:
Israel cannot prevent UN recognition of Palestinian state...
First
ID'ed as 'Int'l Security Assistance Force service members'...
Deadliest
day this year...
WARS
RAGE ON...
U.S.
Dead in Afghanistan Tops 1,500...
OBAMA
HITS GOLF COURSE FOR ROUND NO. 70...
ON
THE GROUND IN LIBYA
Anti-Christian
Violence Continues in Pakistan...
UPDATE:
MIAMI 'WAR ZONE' DURING URBAN WEEKEND...
'I
was scared for my life'...
Poet
'Da Real One' Gunned Down In Front Of Miami Poetry Cafe...
Violent
crime explodes in Myrtle during Black Bike Week; 8-hour hell...
Rib
Fest At Rochester beach turns rowdy...
Riot
On Long Island...
Urban
Melee In Charlotte...
Chaos
causes DNC concern for convention...
Unruly
urban crowd shuts down Nashville water park...
Emanuel
shuts down packed Chicago beach; 'heat-related illnesses'...
REPORT:
'Dozens of gang bangers'...
TEEN
GANGS UNLEASHED ON BOSTON BEACH
WHO: Radiation From Cell Phones Can Cause Cancer...
In same category as lead, engine exhaust,
chloroform...
VIDEO:
Woman Screams For Help After TSA Molestation...
WEINER
ROASTED... [ Ah, yes. Weeny
roast indeed. The end of a saga as Tony Weiner resigns. Truth be told, I’m a
bit surprised. After all, as stated in a soundbite of a new york voter, ‘they
(the rest of congress) are worse than him!’ Difficult to dispute. The truth,
that is. Kind of like that scene in
‘Road to Perdition’ of mob boss Newman’s retort to hitman Hanks, ‘there are
only murderers in this room’. Point well-taken. After all, they backed bush’s
war crimes, covered up wall street’s crisis-causing frauds in the trillions
even to this day, are venal and corrupt even as they scoffed at straight-shooters
as Ross Perot who highlighted what is now recognized as gross incompetence,
extended their tainted touch to the quid pro quo federal courts, etc.. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
Press
conference turns into circus...
NO HUMA...
MSNBC
Host: 'Reminded me of Saddam Hussein hanging'...
REPORT:
Could Run For Seat Again in Upcoming Special Election...
Congressman
Joins Jobless Ranks...
...Approached
for 'Entourage' Cameo
NEW
PHOTOS: Weiner Used Congressional Gym As 'Sexy' Backdrop...
Entering
'psychological treatment center'...
PELOSI:
OUT... DNC
BOSS: RESIGN...
Boehner
gets laughs with quip...
PELOSI:
You gotta' go...
DNC BOSS: RESIGN...
Chorus
to quit grows...
WEINER
WON'T GO
Cops
probe texts to teen girl...
MSG:
'Large. Tights and cape'...
Weiner
admits, says they were harmless...
Rangel
defends: 'He wasn't going out with little boys'...
THE NEW TACK: Dem rep sick, needs treatment to 'make himself
well'...
New
X-rated Weiner photo hits web...
Weiner:
That's my weiner, too...
Another
Weiner Sexter Emerges...
POLITICO
on Weiner: 'Dam is breaking'...
DEMS
BAILING...
Old
Flame Calls on Him to Quit... ‘…he transcript of a nine-month "sexting"
relationship Weiner had with a Las
Vegas blackjack dealer. Radar Online posted the transcript, and it is rife
with misogyny and distorted views about women. In referring to oral sex, Wiener
tells her, “You will gag on me before you c** with me in you” and “[I’m]
thinking about gagging your hot mouth with my c***.” This is not about sex.
It’s about dominating and inflicting physical pain on a woman, a fantasy the
hard-core porn industry makes billions of dollars on selling to men. You don’t
want to gag a woman with your penis unless you have some serious issues with
the way you see women. As for his
other views of women, he tells her, “I hear liberal girls are very, uh,
accommodating of other[s],” playing on a bogus stereotype that politically
liberal women are promiscuous. When he asks the woman, who is Jewish, “You give
good h**d?” and she says yes, he exclaims: “Wow a Jewish girl who sucks c***!
this thing is ready to do damage.” ‘[ What a total mental case! ]
REPORT:
Weiner coached woman to lie...
TMZ:
Offered PR help...
Dems
Begin Peeling Off...
Breitbart
says he has X-rated photo...
WHACKED,
NOT HACKED!
'Used govt. resources'...
Breitbart:
'I Want To Hear Truth'...
6
'inappropriate' relationships...
ABCNEWS:
Mystery Woman Revealed...
HER
STORY...
Risqué
Online Chats, Photo Swaps...
SLIDESHOW...
VIDEO:
'Web of lies'...
TWITTER TEARS: WEINER ADMITS
REPORT:
Woman claims to have 200 explicit messages from NY Dem...
IT
MIGHT BE MY WEINER! REPORT:
WEINER'S TALE UNRAVELING... By Daniel Libit Sunday, June 5, 2011 ‘As the world has attempted to
make sense of Rep. Anthony Weiner’s claim that his Twitter account was hacked,
a key clue has been missing: exactly how the notorious groin pic was posted
online. But according to data provided exclusively to The Daily from
TweetCongress.org, a nonprofit website that captures each member of Congress’s
Twitter feeds in real time, the shot seen round the world was transmitted using
TweetDeck — a popular Adobe desktop application that links up with social
networking sites. A review of Weiner’s Twitter stream from May 27, the day of
the crotch pic, shows that Weiner had been posting only from TweetDeck — one of
many ways to post messages to Twitter — that entire night. Chet Wisniewski, a
senior security adviser at security software company SophosLabs, said the
TweetDeck stamp “does make it more plausible that it did come from him.” Weiner
used TweetDeck frequently, but he often also posted from the Web directly or
from his BlackBerry. A widely
circulated explanation for how Weiner’s Twitter account could have
been hacked by email would also seem to be incompatible with the fact that the
message in question originated on TweetDeck. If email had been used, the
message probably would have originated via the photosharing site Yfrog, where
the infamous picture was posted …’ [ Weiner
admits he sent lewd picture; won't quit (AP) - After days of denials, a choked-up Rep.
Anthony Weiner confessed Monday that he tweeted a photo of his bulging
underpants to a young woman, and he also admitted to "inappropriate"
excha...’ Tearful US
congressman admits to crotch photos (AFP) ]
'This
Could Be The End For Him'...
’Pot Calls
Kettle Black’: Donald
Trump Unloads on Anthony Weiner: "He's a Psycho" - Donald Trump has a new target, and boy does
he look pleased. "The fact is, Anthony Weiner is a bad guy," the
Celebrity Apprentice honcho, who recently decided against running for...
'Have
You Ever Taken A Picture Like This Of Yourself?'...
WEINER
CALLS COPS ON CBS WASHINGTON (CBSNewYork)
— ‘Congressman Anthony Weiner said Thursday he’s finished talking about the
lewd photo sent from his Twitter account.But he still wouldn’t say whether
he’s the one in the picture.So CBS 2 political reporter Marcia Kramer
decided to go to his office on Capitol Hill to try to get you some
answers.You’ll never believe what happened.Kramer tried to get an interview
with the six-term New York Democrat and as a result had the cops called on
her.Kramer walked in to Weiner’s office, announced herself as being from CBS 2
in New York City and said she’d like to see the congressman. Those few words
created quite the stir. Doors slammed and people pretended she wasn’t there
...’ Weiner’s
efforts don’t cool furor The
congressman said that he didn’t send a lewd photo on Twitter but also that he
couldn’t “say with certitude” whether the image was of his own crotch.
(Washington Post) [ ‘Weiner’s weiner’!
‘Not cool furor’ … how ‘bout just plain ‘not cool’. Eh … what can you expect
from national drain / sinkhole new york (new york / new jersey metro). I
haven’t read but probably agree with the following article: Listen
up, fellas: Naked man-parts? Not so sexy. (Washington Post) / … Even Mr.
Milbank weighs in: ‘The
Weiner roast Congressman finds
himself in a fight he does not relish.’ Report:
SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec liar
(sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ John
Cummings
(Author), Ernest
Volkman (Author) Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]:
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed… an especially great
opportunity to sell / take profits while you still can since there's much worse
to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
The Market Correction Deepens: Dave's Daily ‘… The dollar's sharp rally Wednesday took most commodities, except precious metals, to the woodshed. So why would the dollar rally with a trifecta of lousy economic data? It's more likely repatriation and a flight to safety as risk avoidance remains job one. And, the data was horrible led by the Empire State Manufacturing data (-7.8 vs 14 expected), Industrial Production (.1% vs .2% expected) and the Housing Index (13 vs 16 previous) which combined to hit stocks hard. Yesterday's theme, "not as bad as feared" was quickly forgotten for the spin it was. Sure, folks are worried about Greece but it's a small country. Nevertheless, it's symbolic of the debt crisis contagion moving around the developed world from PIIGS to as far as Madison, Wisconsin. Political leaders must confront realities born of this growing cancer. It won't by pretty, it won't be fun but it must be done. Where's the leadership?! What's next? If you care, there's Jobless Claims Thursday (Care to guess? Most experts are just picking numbers out of the air now); Housing Starts and the Philly Fed Survey. Volume Thursday was again much higher on selling than the previous rally. Breadth was quite negative and approaches another 10/90 day …’
Weakening
Consumer And Manufacturing In U.S. Dishearten Markets at Forbes
[video] Trader: Dow Could Drop to 10,500 at TheStreet.com
See
It, Market: Hooky the Bear at
Minyanville
Robert
Shiller: Stocks and Real Estate Remain Grossly Overvalued
Why
the Denial of Peak Oil Is Becoming More Dangerous Every Day
Is
Ben Bernanke Sabotaging the Chinese Economy? [ Sabotage? China? I’d say
‘no-recession-helicopter-ben-b.s.bernanke’ is an ‘equal opportunity
incompetent’ and wall street fraud protector, as the entire world realizes
day-by-day! ]
Minyanville's
T3 Daily Recap: Greek Anxiety Triggers 180 Point Drop in Dow
Sell On The Rallies- Don't Buy On the Dips at Forbes Robert Lenzner [ I quite agree with Mr. Lenzner who has resisted through sound judgment the temptations and implicit pressures of the herd mentality on wall street. After all, bulls are cattle and hardly known for their brain power. ] ‘ Don’t listen to all the money managers selling their wares on tv. Unfortunately, this is a watershed moment for investors again– and I’m feared all the negatives in the world are seeming to overwhelm. We are in midst of 7th straight week down.QE2 will end in 15 days– and it played a strong support system for equities– up 25%, oil, up 25% and gold, up 25% ever since September, 2010 when Fed Chairman Ben Bernanke signaled he wanted to increase the wealth on paper of investors.If equities are on the way down– and the rout today overwhelmed the gains yesterday– then you will experience the double whammy of stocks and homes losing value at the same time– to what extent nobody knows. Money center banks like Bank of America certainly face write-downs from their huge portfolio of home mortgages. Wells Fargo, a Berkshire holding, is one of the widest held stocks by the mutual fund industry.Yes, The Greek economy is in deep trouble, but the larger problem is the holdings of European banks in the loans of Greece, Ireland, Portugal, Spain and Italy. Already, Moodys is talking about downgrading 3 major French banks. It’s the turn of the British and German banks to face huge write-offs on their loans to troubled nations– and secondarily the need to raidse more capital themselves.I was informed this morning that some large money market funds in the US may hold large amounts of European bank paper, which could be difficult to liquidate in the current market environment. We’ll try to check out which ones, but you may recall that PIMCO lost most of the $3.4 billion in Lehman Brothers fixed income securities it owned.Then, there’s the uncomfortable coincidence of the sell off in the emerging nations, especially China where inflation is running at 6%, and the understandable softness in major commodities like oil– $94 in the US today, while the dollar rallied and gold looks to have lost its momentum.Indeed, this is a watershed moment. Just because cash is yielding nothing is no good reason to be 100% invested in common stocks.’
Minyanville's
T3 Daily Recap: Greek Anxiety Triggers 180 Point Drop in Dow at Minyanville
And sure, regular
investors can make plenty of mistakes when it comes to investing.
But here's what the Wall
Street pros don't tell you: They aren't a whole lot better. I sometimes wonder
if they know anything more than the rest of us.
Yesterday two separate
reports landed on my desk. Both showed how the big money honchos have been
handling your savings and investments.
The findings? You
probably don't want to know.
According to the latest
monthly survey from Bank of America Merrill Lynch, these professional money
managers now think gold is "more overvalued than at any time since
December 2009." Those are Merrill's exact words.
In December, 2009, gold
hit a high of $1,170 an ounce.
Today? Oh, $1,515.
That's an annualized return of 19%.
You couldn't make it up.
So much for "overvalued."
According to Merrill
Lynch, these professional money managers have been saying gold is overvalued
for years completely missing the massive bull market of the past decade.
Merrill's latest survey
includes data for the past two years, as gold has nearly doubled. During that
time these professional investment managers have called gold actually cheap
just once, in January 2009. Every other month they've said: "Oh, it's
overvalued."
It was
"overvalued" in May 2008 at around $880 an ounce. It was
"overvalued" in June 2009 at around $930. It was
"overvalued" in early 2010, and it was still "overvalued" a
year ago at around $1,200 an ounce. And it's still "overvalued"
today.
Merrill says it no
longer has data going back earlier, but if my memory serves, the big money
honchos were saying the same thing about gold in earlier years, too. It stands
to reason, too, as when gold was $300 or $400 or $500 an ounce, none of them
owned it. And I paid some attention to Merrill's findings on the subject,
because I happened to be the person who first suggested they start asking about
gold, way back in 2004.
To be fair, money
managers haven't been completely useless guides to gold. December 2009, when
they said it was really, really overvalued, they had half a point. Gold had
just had a big run, and was due a correction. It then fell 10%.
And maybe we're in the
same situation now. Gold's had a good run so far this year, and summer is
traditionally a weak time in the gold market, so maybe you'll get a better deal
if you wait a bit, though there are no guarantees.
If this were just about
gold, it wouldn't matter so much.
But over the past
decade, money managers have been making an equally bad call about a much bigger
asset class: bonds.
Merrill data show they
have been calling bonds "overvalued" consistently since at least
2002.
And they've been singing
the praises of stocks instead.
Meanwhile, over nearly
all of that time, it was generally a far smarter move to have your money in
bonds than stocks. The Vanguard
Total Bond Market Index Fund, for example, has made you nearly twice the
profits of the Total
Stock Market Index Fund with far fewer the ulcers.
This is what we're
paying the big bucks for? These guys have been loaded up to the gunwales with
stocks, holding too few bonds, and no gold, for a decade. Nice move.
I've noted before that,
on occasions, their collective gaffes have been mind-boggling. They dumped
their last remaining Japanese stocks right at the lows, in April 2003. Then
they loaded up again in 2005, after Japanese stocks had already boomed, before
bailing yet again. In June 2007, they fell madly in love with European stocks, and
loaded the boat. Merrill called it "EU-phoria." European stocks then
crashed.
Now let's turn to
yesterday's second report, from pension consultants Mercer. It looks at how big
company retirement plans are managing their investments.
And it turns out not
owning gold is the least of their problems.
Mercer looked at all the
final salary plans run by Standard & Poor's 1500 companies.
Bottom line? Many of
these funds are still significantly underfunded. Even after the gerrymandered
stock market "boom" of the past two years, they have only enough
assets to cover 83% of their liabilities.
"Despite employer
contributions of $77 billion and aggregate asset returns of $156 billion (a 12%
median rate of return), pension deficits decreased by only $8 billion during the
fiscal year," says Eric Veletzos, the Mercer principal in charge of the
study.
An $8 billion
improvement compared to total pension liabilities of $1.7 trillion. It hardly
inspires confidence. And that's after a big rally.
Meanwhile, says Mercer,
the aging Baby Boomers are nearing retirement and many plans "may be
nearing the end of their 'growth' or 'accumulation' phase and transitioning to
a 'spend-down' phase." Oh, happy day.
So managers are doing
what you'd expect in situations like this. They are pinning their hopes on big
stock market gains, and hoping for the best.
Typical funds are
counting on investment returns between 7% and 8% a year, reports Mercer.
There's just one problem: Many of them are also holding lots of low-risk,
low-return bonds. In some cases they are holding half, or even two-thirds, of
their entire portfolios in bonds.
And yet they are still
expecting overall investment returns of 7% to 8%.
Hmm. Ten-year Treasury
bonds yield a mere 3%. Even long-term AA-rated corporate bonds yield only about
5.3%, according to Barclays Capital. So if half your portfolio is in
investments like these, how do you get 7% or 8% overall? Easy. You just tell
people stocks will give you 8%, 9%, even 10% a year.
Good luck with that.’
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Greek debt
fears sink Wall Street, more losses eyed (Reuters) Stocks
tumbled on Wednesday, driven lower by escalating Greek debt woes, while
troubling U.S. data pointed to further losses ahead.
Greeks
Strike, Clash With Police Over Austerity Reuters | Stone-throwing Greeks clashed with police and
tens of thousands of protesters marched on parliament on Wednesday.
Gold
May Advance on Inflation Concern, Sovereign-Debt Crisis in Europe Bloomberg | Gold may gain for the
first time in three days.
‘Bumbling’
Economy Result of ‘Meddling’ From Leaders: Ross CNBC | The US economy is just
“bumbling along” and creating an uncertainty.
Biden-led
deficit talks resume [ ‘Lobotomy Joe’? Well that engenders confidence …
Riiiiight! ] Looking
for Medicaid savings Faced with severe budget problems, Republican
governors are escalating their fight against federal rules requiring states to
maintain current levels of health-care coverage for the poor and disabled.
(Washington Post) [S&P
downgrades GreeceIt now has the world’s lowest debt grade, and S&P said
a restructuring looks “increasingly likely.” (Washington Post) [ As dire as the
Greek predicament is, some very distinguished experts say: Drudgereport: USA in
Even 'Worse Shape Financially Than Greece'... CHINA:
USA 'ALREADY DEFAULTING'...
TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
Greek
rating now worst in the world...
CCC...
Likely
Default...
Ill. so
broke considers ads on license plates...
Eurozone 'heads for break up'... The frauds on wall street et als should be criminally prosecuted, jailed, fined, and disgorgement imposed… an especially great opportunity to sell / take profits while you still can since there's much worse to come! Selling In May Is Very Good Advice This Year Harding Remember: Sell in May and Go Away and If You’ve Not Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone! PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock Market: 4 Current Warning Signs Davis ‘This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘America Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling In May Is Very Good Advice This Year Harding / Equity Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ... According to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued …only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png Navin ‘…1) The 5-year high in the level of insider corporate stock sales is telling. At 565 sells for every 1 buy, it’s never been higher. Yes, it’s normal for insiders to be selling some of their stocks so they can buy new yachts and some of this is pre-planned. But that ratio — which has spiked recently — is extraordinarily high, one might even say off-the-chart.
National /World
NATO
sliding towards Libyan ground war: Russian envoy (Reuters)
Lawmakers sue President Obama over Libya Politico | Bipartisan group of House members announced it is filing lawsuit charging that Obama made an illegal end-run around Congress when he approved military action against Libya.
Facing
a tall order in Afghanistan A
low-key Marine, Gen. John R. Allen, is set to take over the war at a
high-stakes moment (Washington Post) [ Tall order? That’s an understatement!
Even if pervasively corrupt america wasn’t defacto bankrupt the ‘task’ would
still be on the order of ‘mission impossible’.
90%
of Petraeus’ Captured ‘Taliban’ Were Civilians Gareth Porter | More than 80 percent
of those called captured Taliban fighters were released within days of having
been picked up, because they were found to have been innocent civilians. Lawmakers
push for a new Afghan strategy
Congressional leaders are urging President Obama to take full advantage
of progress achieved by narrowing the focus of the Afghan mission. (Washington Post) [ It seems they’ve taken
Robert Browning to heart; viz., that ‘a man's reach should exceed his grasp’ (from a poem
by Robert Browning).
Indeed, they search for that ever elusive thing called ‘strategy’ vis-à-vis the
so-called ‘Afghan mission’ for the umpteenth time. For them, this is but a
‘mission impossible’ as a strategy implies method to this reality of their
madness. The heroin trade which they’ve ramped up (the Taliban had all but
eradicated same) and commandeered as their own has been reason enough; yet, fog
of war creates many opportunities for the american criminals despite the
defacto bankruptcy of the nation. So, for the war criminal americans, reality
certainly falls within the ambit of beyond their grasp. Though having but 5% of the world’s population, the u.s. has 76% of
the world’s serial killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt america also spends more on military than all
the nations of the world combined... fed employees / contractors, cia, all 3
branches of u.s. gov’t, etc., are included in this evolved american trait of
inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]:
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Marcus:
Weiner takes refuge in Rehab Nation (Washington Post) [ Drudgereport: THE NEW TACK: Dem rep sick, needs treatment to 'make himself
well'...
New
X-rated Weiner photo hits web...
Weiner:
That's my weiner, too...
Another
Weiner Sexter Emerges...
POLITICO
on Weiner: 'Dam is breaking'...
DEMS
BAILING...
Old
Flame Calls on Him to Quit... ‘…he transcript of a nine-month "sexting"
relationship Weiner had with a Las
Vegas blackjack dealer. Radar Online posted the transcript, and it is rife
with misogyny and distorted views about women. In referring to oral sex, Wiener
tells her, “You will gag on me before you c** with me in you” and “[I’m]
thinking about gagging your hot mouth with my c***.” This is not about sex.
It’s about dominating and inflicting physical pain on a woman, a fantasy the
hard-core porn industry makes billions of dollars on selling to men. You don’t
want to gag a woman with your penis unless you have some serious issues with
the way you see women. As for his
other views of women, he tells her, “I hear liberal girls are very, uh,
accommodating of other[s],” playing on a bogus stereotype that politically
liberal women are promiscuous. When he asks the woman, who is Jewish, “You give
good h**d?” and she says yes, he exclaims: “Wow a Jewish girl who sucks c***!
this thing is ready to do damage.” ‘[ What a total mental case! ]
REPORT:
Weiner coached woman to lie...
TMZ:
Offered PR help...
Dems
Begin Peeling Off...
Breitbart
says he has X-rated photo...
WHACKED,
NOT HACKED!
'Used govt. resources'...
Breitbart:
'I Want To Hear Truth'...
6
'inappropriate' relationships...
ABCNEWS:
Mystery Woman Revealed...
HER
STORY...
Risqué
Online Chats, Photo Swaps...
SLIDESHOW...
VIDEO:
'Web of lies'...
TWITTER TEARS: WEINER ADMITS
REPORT:
Woman claims to have 200 explicit messages from NY Dem...
IT
MIGHT BE MY WEINER! REPORT:
WEINER'S TALE UNRAVELING... By Daniel Libit Sunday, June 5, 2011 ‘As the world has attempted to
make sense of Rep. Anthony Weiner’s claim that his Twitter account was hacked,
a key clue has been missing: exactly how the notorious groin pic was posted
online. But according to data provided exclusively to The Daily from
TweetCongress.org, a nonprofit website that captures each member of Congress’s
Twitter feeds in real time, the shot seen round the world was transmitted using
TweetDeck — a popular Adobe desktop application that links up with social
networking sites. A review of Weiner’s Twitter stream from May 27, the day of
the crotch pic, shows that Weiner had been posting only from TweetDeck — one of
many ways to post messages to Twitter — that entire night. Chet Wisniewski, a
senior security adviser at security software company SophosLabs, said the
TweetDeck stamp “does make it more plausible that it did come from him.” Weiner
used TweetDeck frequently, but he often also posted from the Web directly or
from his BlackBerry. A widely
circulated explanation for how Weiner’s Twitter account could have
been hacked by email would also seem to be incompatible with the fact that the
message in question originated on TweetDeck. If email had been used, the
message probably would have originated via the photosharing site Yfrog, where
the infamous picture was posted …’ [ Weiner
admits he sent lewd picture; won't quit (AP) - After days of denials, a choked-up Rep.
Anthony Weiner confessed Monday that he tweeted a photo of his bulging
underpants to a young woman, and he also admitted to "inappropriate"
excha...’ Tearful US
congressman admits to crotch photos (AFP) ]
'This
Could Be The End For Him'...
’Pot Calls
Kettle Black’: Donald
Trump Unloads on Anthony Weiner: "He's a Psycho" - Donald Trump has a new target, and boy does
he look pleased. "The fact is, Anthony Weiner is a bad guy," the
Celebrity Apprentice honcho, who recently decided against running for...
'Have
You Ever Taken A Picture Like This Of Yourself?'...
WEINER
CALLS COPS ON CBS WASHINGTON (CBSNewYork)
— ‘Congressman Anthony Weiner said Thursday he’s finished talking about the
lewd photo sent from his Twitter account.But he still wouldn’t say whether
he’s the one in the picture.So CBS 2 political reporter Marcia Kramer
decided to go to his office on Capitol Hill to try to get you some
answers.You’ll never believe what happened.Kramer tried to get an interview
with the six-term New York Democrat and as a result had the cops called on
her.Kramer walked in to Weiner’s office, announced herself as being from CBS 2
in New York City and said she’d like to see the congressman. Those few words
created quite the stir. Doors slammed and people pretended she wasn’t there
...’ Weiner’s
efforts don’t cool furor The
congressman said that he didn’t send a lewd photo on Twitter but also that he
couldn’t “say with certitude” whether the image was of his own crotch.
(Washington Post) [ ‘Weiner’s weiner’!
‘Not cool furor’ … how ‘bout just plain ‘not cool’. Eh … what can you expect
from national drain / sinkhole new york (new york / new jersey metro). I
haven’t read but probably agree with the following article: Listen
up, fellas: Naked man-parts? Not so sexy. (Washington Post) / … Even Mr.
Milbank weighs in: ‘The
Weiner roast Congressman finds
himself in a fight he does not relish.’ Report:
SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec liar
(sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ John
Cummings
(Author), Ernest
Volkman (Author) Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]:
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Despite
Today's Rally, Investors See Threat of a Market Correction at Minyanville
Lloyd Khaner June 14, 2011 ‘We may not be out of the
woods, yet; this week, investors were given new reasons to worry.
Investors are in better
spirits today following upbeat news about retail sales and China's move to curb
inflation, but make no mistake: the global markets remain nervous and the risk
of a major correction lingers.
This week, Lloyd's Wall of Worry climbs to 22 blocks, with three new concerns
joining the list of fear-inducing hot topics: Mini-flash crashes, the ECB's
promise to hike rates and China's U.S.-listed reverse merger companies.
For more on how to use Lloyd's Wall of Worry as an investing
tool, see below. For a look at the the specific worries making investors
nervous this week, keep reading.
QE II: Okay, we got it -- no QE 3. How’s about a 2.5, so we go from the cigs to
the nicotine patch and avoid the massive withdrawal pain of cold turkey?
U.S. ECONOMY: Let’s not have everyone panic because we got one or two -- or
six -- weak economic reports. Though hopefully a few key people will
panic and “FIX IT!”
UNEMPLOYMENT: “The long and winding road, that leads, to your door…” from the
unemployment office. Getting sad and tough and mean and nasty and real out
there.
U.S. DEBT CEILING: No doubt about it we're rapidly building another lose-lose situation
here. We don’t raise it, we lose credibility. We do raise it, we lose
credibility.
INVESTOR SENTIMENT: The professional traders are so freaked that they’re
wearing straightjackets to work. Amateur traders would do the same but they
lost theirs trading
against the pros.
HOUSING CRISIS: I’d say let’s just hit the fast forward button to the end of
this mess but I’m afraid that at my age I would look ridiculous in the Mad
Max-wear we’re all destined to be donning.
INFLATION: Well, there’s one place it’s not currently showing up and that’s in stock
prices. Gallows humor anyone?
STOCK MARKET TECHNICALS: Short-term oversold, which means there may be a bit
more on the downside, or a lot more on the downside, or a bit of a bounce up
but not a full-on rally. Now, honestly, aren’t you glad you didn’t have to pay
for the aforementioned technical analysis?
FLOODS, TORNADOES, VOLCANOES: “Say hello to my little friend…." Hurricane
Season. Coming soon to a southern U.S. state near you!
OIL PRICES: Frack This! Frack That! Frack Me! Frack You! Pardon my language but
I’ll say anything to get the fracking price
of oil down.
ARAB SPRING: Syria and Yemen feeling more like late fall with a long, cold
winter ahead.
LIBYA: Congressional patience running short, our involvement running long. Bad
combo.
JAPAN: It may be an island physically but with the third largest economy in the
world, it isn’t an island economically.
CHINA: Four interest rate hikes plus eight reserve increases equals twelve taps
on the economic brakes. Let’s hope lucky No. 13 doesn’t slip into a stomp that
gives all of us whiplash.
ASIAN ECONOMIES:
Channeling the voice of the legendary sportscaster Howard Cosell, “Down goes
Asia! Down goes Asia! Down goes Asia!”
MARGIN DEBT: It’s high, too high. And it’s in weak hands, too weak.
SOVEREIGN DEBT: Playing out like a Greek tragedy, with real Greeks, real
tragedy and every economic player in the world as the chorus. I hereby dub
thee, “The Defaultedes!”
COMMODITIES: You know the market is rough when even the most manipulated financial
assets in the world can’t be artificially spiked skywards.
POLICY MISTAKE: Like walking a tight rope carrying a tray of pyramid-stacked
champagne glasses during hurricane season without a net. The world’s major
economic powers cannot afford
even a slight slip-up. I can’t watch.
MINI-FLASH CRASHES: Last week’s one-day wonder winner: natural gas! Do I hear
any nominations for this week’s systemic blunder?
REVERSE MERGER COMPANIES: These Chinese imports may be more toxic than that 2004 vintage
drywall they cranked out, and certainly a heckuva lot more expensive.
EUROPEAN CENTRAL BANK: Promises of more rate hikes to come. Some promises are
made to be broken -- fingers crossed on this one.’
Top 3
Reasons Markets Were Up Big Despite Gloomy Headlines [Oh come on! ‘Better than expected data from
the … commerce department? China’s still growing, duh; which is just dandy for
defacto bankrupt america ? Solar? This is an especially great time to sell /
take profits since beyond the puff / sluff there’s much worse to come! ] ‘Wall St Cheat SheetOn Tuesday June 14, 2011, Markets closed up on Wall Street: Dow +1.03% ,
S&P +1.26% , Nasdaq +1.48% , Crude +2.12% , Gold +0.68% .
On the commodities
front, Oil (NYSE:USO) added $2 to close just below $100 a barrel, while
precious metals were had a nice day with Gold (NYSE:GLD) and Silver (NYSE:SLV) both in the green.
Today’s markets were up
because:
1) Retail sales shocked
the doom-and-gloomers. Funny thing about the uber-bears is they are spot about
consumers when Oil (NYSE:USO) spikes, but they always forget to adjust
expectations when the facts change. Today retail shorts melted first when Best
Buy (NYSE:BBY) announced strong earnings and then when the
Commerce Department showed retail sales grew 0.3% (ex-food and gas).
2) Surprise! China is
still growing. A ton of the recent selling has been on the playbook that
slowing growth in China (NYSE:FXI) will drag down the world economy. Well, at least the
Chinese government says China is growing just fine. That was the main catalyst
for stocks to pop today as global shorts unwound enough shares to accommodate
China’s data.
3) Solar stocks were on
fire. Google (NASDAQ:GOOG) threw down some big support to SolarCity to
help boost growth in residential solar power (NYSE:TAN). Check Out: Here’s Why Solar Stocks are On Fire Now .
Bonus: Will
Internet Radio and the Cloud Squash Sirius XM Radio?.’
Bearish
Signs Are Quickly Adding Up at Minyanville Gary Kaltbaum Jun 13,
2011 ‘When the markets are in a bear phase, as they are now, it becomes
immensely important to keep our eye on certain things.
Over the past few weeks, I
have been more cautious. During that time on the Buzz & Banter,
I outlined why I thought the market was in trouble. The simple fact is
that every characteristic that usually show up near tops in the market...
showed up. When these characteristics show up, it is time to keep an eye
out for trouble. All that has to happen is for negative price and volume to
confirm. Subtle signs showed up weeks in advance. When listening to
those who say this recent drop came out of nowhere, please take it with a grain
of salt. Here are those bearish characteristics that I've said would eventually
come back to haunt the market:
Financials
Big financials were acting like it was '07 all over again. They sit when the
market goes up and they lead down when the market sinks.
It's quite amazing that this is occurring while the Fed is just handing money
over to them. This is important, as financials have always been a key to the
market.
Major New Highs Divergence
Every time the market went to new highs, there were fewer and fewer stocks
hitting new highs... indicating strength was narrowing.
Defense Leads
Speaking of leadership narrowing, over the past several weeks, we saw drugs,
food, beverages, tobacco, and utilities lead. It's a classic sign of
trouble when the most defensive of issues are being bought.
Low Levels of Cash
Mutual funds are only holding 4% in
cash -- a very low level -- providing very little ammo for the market.
Over the Top Bullish Sentiment
I noticed one pundit call for 2600 S&P
by 2013 and another calling for 20,000 Dow
within 18 months. These type of calls do not occur at the lows.
Many Stock Splits and Mergers
Stock splits and mergers do not
occur at lows. In fact, they occur at highs.
Emerging Markets
Markets like China, Brazil, and others entered their own bear phases
before US markets.
A Plethora of IPOs and Secondaries
This adds supply to the market, but more importantly it's another
characteristic that shows up at highs, not at lows. To make matters
worse, investment banks -- as usual -- learned no lessons from the
late '90s about bringing companies public with $5-10 billion valuations that do
not have even $100 million in sales and lose money. They get
their fees and investors lose.
Semiconductors
Another important leading sector is the semis. They have led the market for
many years, both up and down. When they topped in March, I became worried. When
they rolled over in mid-May, I became double worried.
Finally and Most Importantly
Nothing bad happens when major indices are above the 50 day moving averages, and only bad
happens when below. The final dagger occurred last Wednesday when markets dived
below on volume. Since then, there's nothing but distribution. On a daily basis
we are seeing weak closes, another important sign of a bear phase.
Try to resist the
urge to listen to permabull Wall Streeters during bear phases, as it
could cost you a bundle.
You will be hearing the terms overdone, overreaction, undervalued, cheap, and
so on. Be careful!
I am amazed at the complacency I have seen so far. After stating my bearish
stance on Fox News a few
weeks ago, I received a bunch of disagreeing emails, and even hate mail. Some
people just never want to believe the market can go down. There is no way of
knowing when a bear phase will end, but just like we know the characteristics
that show up during a market top, we know the characteristics that show up
during a market bottom. I do believe this market has a date with the 200-day moving
average which is only a couple percent lower. At this
juncture, I am inclined to believe it will occur.
To answer the question on whether the market could have another flash crash, I
wouldn't bet against anything as I do not believe the masses are prepared, and
I do believe the masses still have the buy the dip mentality.
On a short-term basis, major indices remain very stretched, expended, and
oversold to the downside. But again, oversold could stay oversold for a while.
I suspect the 200-day average could first provide the market with some sort of
relief rally. Any rally should be sold as I believe there is going to be more
time and price in this bear phase.
My last point is on the economy because many weeks ago I thought the economy
had topped. Since then and unfortunately, this has been the case. What did I
see? Every quarter I visit numerous retail outlets and I speak to select
people in differing industries. These are ordinary people either running or
working at businesses
and they all said that things had stalled, that there was no upward
trajectory. I then heard the heads of Walmart
(WMT) and Target (TGT) say
that the consumer
hit a wall. (Here's a hint, never argue with what Walmart says. Don't
listen when a pundit says the news is just limited to Walmart. The
company only does $400 billion in sales.) The last and most important
clue... commodities topped, indicating demand was indeed softening. Weeks later,
all the worsening news has started to come out.
My biggest worries are simple:
The Fed is out of ammo. Interest rates are already at zero percent. Yes,
they can print more money but that only crushes the dollar and lifts
commodities, which in turn hurts the consumer. Crushing your own currency has
never worked.
This administration is in dire need of watching the Seinfeld episode where Jerry told George that if every
decision he has ever made was wrong, then doing the opposite must be right.
We've seen massive deficits, massive amounts of new regulations, threats of tax
increases, demonization of almost every industry,
and a health care bill that does nothing more than add more costs to hiring
even though they say it will lower costs and lower the deficits. There is only
one outcome from this questionable policy... and we are seeing it. The
Obama administration is not dealing with a sluggish economy, it is
causing it.
So I worry. It is only bad when markets go down, and right now, it
is bad. Markets are going down and we may have only seen the beginning
as the trust factor remains very low. Markets are quite smart in the long run.
Editor's
Note: Gary Kaltbaum is the author of The Investors Edge and long-time
contributor to TradingMarkets.com.’
S&P
slashes Greece to lowest, says default likely (Reuters)
THE
SPECTER OF DECLINE HANGING OVER THE MARKET http://www.minyanville.com/businessmarkets/articles/market-market-news-double-dip-recession/6/6/2011/id/34961 Jeffrey
Cooper Jun 06, 2011
This level was the initial low following the February peak as well as the low
in April prior to the advance to the May 2 1371, high for the move to date.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/INDEX_$SPX_D%20--%20S&P%20500%20INDEX%20%7BDelay20%7D.gif
… The other specter that overhangs the market is as to whether, cyclically,
this is 1937 or 1911 or 1940. June 1 was a Solar Eclipse which tied to the
Hook, Line & Sinker Sell pattern in the market. The eclipse cycle or Saros
cycle is approximately 19 years. Two cycles back is roughly 40 years. In 1971,
the cost
of the Vietnam War when Nixon was facing reelection forced him to abandon the
gold standard. Now we also have a president facing a reelection with and
involvement in wars which continue to drain our resources, and fears about the
rise of inflation. It’s been 40 years (40 days and 40 nights) with the world
reserve currency wandering in the desert.
In 1970 (2010), there was a big April top followed by a summer low. In 1971
(2011), there was a big top at the end of April/beginning of May that led to an
initial decline into August. In tomorrow’s report, we will take a look at how
that decline in 1971 played out.
The 100-year cycle is interesting as the Financial
Panic of 1907 is a good fit with the 2007/2008 Panic. Note the big low in late
February 1909 which is a good fit with the March 2009 low. In 1911 there was a
peak in February and a pivot on May 1 with a high and waterfall decline
starting from June.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/DJ%201909%20final%206-5-11.gif
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/DJ%201910%20final%206-5-11.gif
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/DJIA%201911%20final%206-5-11.gif
Is this more like where the market was in 1937 following the “recover” after
the 1932 low? Or, was 1937 a fractal of 2007/2008? After the big low in 1932,
the market rallied up for 5 years which mirrors the crash into 2002 followed by
a 5 year run into the 2007 top.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/DJ-1937-1942%20final%206-5-11.gif
From the October 11, 2007 S&P top to June 1/2, 2011 pivot high gives 1330
days (basically the 100% advance level off the low), the price
level where the recent failure occurred. In comparison, 1330 calendar days from
the March 1937 highs gives November 1940 (point A on the chart) which was prior
to a new leg down. Note the pattern of the low in late 1937/early 1938 closely
resembles the pattern of the low from November 2008/March 2009.
Finally, checking the 30-year cycle from 1891 we see that there was a final top
in late April 1981 after a wide and loose topping process. This fits in with
the closely weekly high this April following wide swings up down.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/INDEX_$INDU_D%20--%20DOW%20JONES%20INDUSTRIAL%20AVERAGE.gif
Importantly, there was a false breakout in 1980 followed by a false breakdown
--all part of a broadening or Megaphone Top. What’s interesting is that there
was a Megaphone Top within a Megaphone top which made it difficult for traders
at the time. And still, after the second Megaphone Top played out there was yet
one more false new high (point C) for good measure. Is it possible that after a
stunning 100% persistent advance on the heels of a crisis that the market will
thwart bulls and bears alike and mirror the 10% juggernaut trading range traced
out in 1980/1981.
What is interesting is that the price low on the Dow Jones Industrial Average
occurred in 1981 followed by a somewhat higher low 2 years later in the summer
of 1982. Will the 2009 lows or the 2010 lows be tested in late 2011 to 2012?
Conclusion: The payroll figures were dismal on Friday giving rise to fears of a
double dip recession with no money left to fight it off and little political or
popular appetite to do so. The market is no longer shrugging off bad news. This
is a conspicuous change in character which means defense should be on the
field. The specter of a decline hangs over the market and no one knows which
cycle will dominate or whether we are in a bullish correction or on the way
down to test the 2011 lows, the 2010 lows or even the 2009 lows, but I don’t
think the next recession (when it comes) will be a recession [ meaning
depression … and, since we’re already there, the depression continues here,
here ].’
All this hasn’t
punctured the wishful thinking at the Fed and on Wall Street, where
corporate profits are expected to prove stock prices are too cheap. Here’s the
list of the wishful thinking items I heard or read today;
*There won’t be a
default on US debt– or even a reduced credit rating. I have to admit a
gnawing anxiety about resolving budget cuts sufficient to raise the debt limit
by trillions. Yes, trillions. Could there really be a political stalemate
and flirtation with a crisis over our finances? I’m beginning to think the
worst of all possible worlds. China and Germany are looking to reduce our
credit rating. Comes the revolution, an overthrow of American financial
superiority.
*Oil prices will
decline and that development will allow consumers to spend money and
stimulate the economy. Maybe they will– and maybe they won’t. Rules should
installed to limit speculation in energy futures by institutional investors.
*We are close to a
bottom in housing. My answer; we’ve been told we were close to a
bottom for many months now– and it’s an absurd notion. Yale’s Schiller is
suggesting the loss in housing values could be another 10-20%. Goldman Sachs
called this horror story over a year ago.
* If the economy doesn’t
pick up, Fed Chief Bernanke will declare QE3. Except that QE2 failed to create
jobs or economic activity. It only served to help speculators in gold, silver
and oil. There will be an outcry if QE3 is declared as it only helps the gold
lovers– and they are already filthy rich.
* The bank stocks are
selling below book value; their balance sheets are clean. It’s an enormous
buying opportunity. Then, why was there talk about busting up Morgan Stanley
today. Liquidating a major investment bank? Now, that’s a devilish sign
of serious trouble on the horizon.
*Here’s the most
unhealthy element that’s operative; corporate profits and executive
compensation have been strong– while wages for ordinary Americans are lower.
“What is to be done?” asked Lenin in 1917. Neither the White House nor
Wall Street know what to do to turn this decline around.
We are all being
challenged by a deterioration that seems to have no obvious public policy
solution. Pain is coming.’
States
Use Sweepstakes to Boost 529 Plans Recession-battered 529 college-savings plans are
trying to lure investors with the chance to win thousands. [ This is more
preposterous than it seems at first blush. ]
Gold
May Advance on Inflation Concern, Sovereign-Debt Crisis in Europe Bloomberg | Gold may gain for the
first time in three days.
‘Bumbling’
Economy Result of ‘Meddling’ From Leaders: Ross CNBC | The US economy is just
“bumbling along” and creating an uncertainty.
Where
Is The Recovery? I Cannot Seem To Find It Tony Pallotta | If the US government reduced spending by
40% today, right this second we still could not put a dent in a $12 trillion
national debt.
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
S&P
downgrades GreeceIt now has the world’s lowest debt grade, and S&P said
a restructuring looks “increasingly likely.” (Washington Post) [ As dire as the
Greek predicament is, some very distinguished experts say: Drudgereport: USA in
Even 'Worse Shape Financially Than Greece'... CHINA:
USA 'ALREADY DEFAULTING'...
TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE ARE ON
THE VERGE OF A GREAT, GREAT DEPRESSION...'
Greek
rating now worst in the world...
CCC...
Likely
Default...
Ill. so
broke considers ads on license plates...
Eurozone
'heads for break up'...
The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed… an especially great
opportunity to sell / take profits while you still can since there's much worse
to come! Selling
In May Is Very Good Advice This Year Harding
Remember: Sell in May and Go Away and If You’ve Not
Sold by June, You’re a Loon! ‘ ‘Albert Edwards: Thinks the
Market Could Fall 70%’ [ He’s not alone!
PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows Stock
Market: 4 Current Warning Signs Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic
reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding
/ Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png Navin ‘…1) The 5-year high in the
level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s
normal for insiders to be selling some of their stocks so they can buy new yachts
and some of this is pre-planned. But that ratio — which has spiked recently —
is extraordinarily high, one might even say off-the-chart.
No to nuclear and
no to Berlusconi BBC
| In the past two days the people of Italy have been given their say.
Hezbollah
Rise In Lebanon Gives Syria, Iran Sway NPR | Hezbollah and its allies rose to a position of
unprecedented dominance in Lebanon’s government on Monday.
Obama: My
family is ‘fine’ with one term Politico
| President Barack Obama says his family is “not invested” in a second term.
Weiner
won’t go; new photos surface on Internet AP | The second-ranking House Democrat on Sunday joined
the party leadership in urging Rep. Anthony Weiner to quit
Two U.S. soldiers
killed in Iraq Washington Post
| Two more U.S. soldiers have been killed in Iraq.
90%
of Petraeus’ Captured ‘Taliban’ Were Civilians Gareth Porter | More than 80 percent
of those called captured Taliban fighters were released within days of having
been picked up, because they were found to have been innocent civilians.
NBA
Finals 2011: Dallas Mavericks defeat Miami Heat; Dirk Nowitzki gets Finals MVP
(Washington Post) [ Who woulda’ thunk it? I ordinarily don’t comment on sports;
and, truth be told, I really don’t follow basketball except for the
championships (this was a great one) and news highlights (though I like the
game and played often prior to high school / college wrestling http://albertpeia.com/alresume.htm#ATHLETICS ). Yet, one can hardly not give it up for
the spirited Dallas Mavericks. On paper, they were given no chance; but, the
only ones who hadn’t heard those negative prognostications were the plucky
Dallas team across the board. Even the ‘little’ guys ( Barrea, Kidd ) came up
very big when it counted and when it could have gone the other way. All heart,
they deserved the great victory. We all should have known when they blew out
the lakers that they were no fluke and of their triumph to come.
Congratulations to the NBA Champion Dallas Mavericks!
Obama
says if he were Weiner, he’d resign
President Obama on Monday waded into the debate over whether embattled
Rep. Anthony Weiner should step down, saying, “If it was me, I would resign..Barack Obama: The
Naked Emperor Shocking but true revelations from David Icke| ..Obama is
just more of the same, a big smile with strings attached, and controlled
completely by those that chose him, trained him, sold him and provided his
record funding, kept his many skeletons under wraps, like the gay sex and crack
cocaine .. Larry Sinclair (from affidavit: 1. Who is Ron Allen that claims to
be with your Presidential camp, who is alleged to claim that someone claiming to
represent me called asking for $100,000, to keep me from coming forward about
our (Obama and I) November 1999 encounter of sex and cocaine use?), ... Obama
is just another Banksters' moll prostituting himself .., and that's why he
supported the grotesque bail-out of the banking system and why he will always
put their interests before the people. http://albertpeia.com/obamadeceptionhighqualityversion.flv .(Washington
Post) [ Drudgereport: SEXTING WEINER OFF TO REHAB
NEW
PHOTOS: Weiner Used Congressional Gym As 'Sexy' Backdrop...
Entering
'psychological treatment center'...
PELOSI:
OUT... DNC
BOSS: RESIGN...
Boehner
gets laughs with quip...
PELOSI:
You gotta' go...
DNC BOSS: RESIGN...
Chorus
to quit grows...
WEINER
WON'T GO
Weiner
admits, says they were harmless...
THE NEW TACK: Dem rep sick, needs treatment to 'make himself
well'...
New
X-rated Weiner photo hits web...
Weiner:
That's my weiner, too...
Another
Weiner Sexter Emerges...
POLITICO
on Weiner: 'Dam is breaking'...
DEMS
BAILING...
Old
Flame Calls on Him to Quit... ‘…he transcript of a nine-month "sexting"
relationship Weiner had with a Las
Vegas blackjack dealer. Radar Online posted the transcript, and it is rife
with misogyny and distorted views about women. In referring to oral sex, Wiener
tells her, “You will gag on me before you c** with me in you” and “[I’m]
thinking about gagging your hot mouth with my c***.” This is not about sex.
It’s about dominating and inflicting physical pain on a woman, a fantasy the
hard-core porn industry makes billions of dollars on selling to men. You don’t
want to gag a woman with your penis unless you have some serious issues with
the way you see women. As for his other views of women, he tells her, “I hear
liberal girls are very, uh, accommodating of other[s],” playing on a bogus
stereotype that politically liberal women are promiscuous. When he asks the
woman, who is Jewish, “You give good h**d?” and she says yes, he exclaims: “Wow
a Jewish girl who sucks c***! this thing is ready to do damage.” ‘[ What a total mental case! ]
REPORT:
Weiner coached woman to lie...
'Used govt. resources'...
TWITTER TEARS: WEINER ADMITS
REPORT:
Woman claims to have 200 explicit messages from NY Dem...
IT
MIGHT BE MY WEINER!
Cohen:
Fed up with favoritism toward israel (Washington Post) [ As indeed all people
worldwide should be. After all, such costly (direct and indirect) favoritism is
contraindicated in every way, particularly for defacto bankrupt america. This
fact certainly wasn’t lost on James Forrestal whose prognostication /
admonition has proven all too true. Krauthammer:
What Obama did to Israel (WP) [ The fundamental problem with Mr.
Krauthammer’s non-sequitor illogic is the manner in which war crimes nation
israel came by those land (war) and the numerous violations of u.n. resolutions
(ie., 242, 338, etc., and oslo accords, etc.), international, war crimes
(flotilla raid, etc.) since then. He thus becomes the journalistic equivalent
of what Pat Buchanan refers to as the ‘israeli amen corner’ in congress. If
only one could realistically ignore the detriment the world and america have
suffered as a direct consequence of this foreign policy bent … Top
Democrats criticize Obama’s Israel policy
(WP) [ What policy … to him, just words … more b***s*** . I’ve thus far
refrained from commenting on what I’ve anticipated to be ‘just more of the
same’; empty rhetoric. Pervasively corrupt, defacto bankrupt america makes the
wrong choice at every turn, ensuring in every way, decline and fall;
self-destructive, self-defeating. Make no mistake, and let me reiterate, that
substantially underrated President General Eisenhower would have put American
interests first and the current debacle would never have occurred in the first
instance … see, ie., http://albertpeia.com
, historical documentation, from website: http://www.ameu.org ‘Lest We Forget The Israeli lobby in
Washington has successfully influenced the U.S. Congress to give billions of
non-repayable dollars each year to Israel on the premise that Israel's loyalty
and strategic importance to the United States make it an ally worthy of such
unprecedented consideration. Is it ? In his Farewell Address, George Washington
warned Americans to avoid a passionate attachment to any one nation because it
promotes "the illusion of an imaginary common interest in cases where no
real common interest exists." In 1948, U.S. Secretary of Defense James
Forrestal, an opponent of the creation of a Jewish state in Palestine, warned
that, even though failure to go along with the Zionists might cost President
Truman the states of New York, Pennsylvania, and California, it was about time
that somebody should pay some consideration to whether we might not lose the
United States. Israeli actions over the past 53 years involving U.S. interests
in the Middle East seriously challenge the "strategic asset" premise
of the Israeli lobby. Some of these actions are compiled in the list that
follows: ’ ] Netanyahu
lays out vision for Mideast peace (WP) [
Vision? Don’t make me laugh! The guy’s blind; and a ward and provocateur at
america’s substantial cost and detriment. ]
These
are the days it never rains but it pours...
--"Under Pressure"
(Queen, David Bowie)
With last week's close below the mid-point of the year’s range (1310), the
specter of decline hangs over the market.
Markets seek equilibrium. Yet, despite the close below the 1310
"fulcrum," the Maginot line looks to be 1290/1294.
This level was the initial low following the February peak as well as the low
in April prior to the advance to the May 2 1371, high for the move to date.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/INDEX_$SPX_D%20--%20S&P%20500%20INDEX%20%7BDelay20%7D.gif
The S&P peeked under 1300 to 1297 on Friday twice but scratched and clawed
to hold it, barely, by the bell. It looks like the powers that be were waiting
to support the market just under 1300 in order to prevent a panic around the
world this morning.
It may prove to be relevant, at least in the short term, that 1297 is a corner
number on the Square of 9 Chart that ties to the first week of May.
Click
here for Square of 9. http://image.minyanville.com/assets/FCK_Jan2011/File/wheel662b.JPG
In other words, if there is no bad news out of Europe, the market may open up
and squeeze higher. While the pattern is bearish, in a short-term downtrend
they are oversold enough to elicit a rally. That being said, I would wait for
an edge such as an ORB (Opening Range Breakout) as a sign that they can rally
as it is dangerous here. No change in the downtrend would be in place unless
the S&P recaptured a Bowtie of its 20/50 day moving
averages.
While any further downside follow through below 1290 could cause hedge funds
to panic prior to quarter end and send the S&P into a tailspin to a test of
the March lows near 1250 which coincides with the 200 dma, I can’t help but
remember that after the plug was pulled in March there was a 4- to 5-day spike
to 1250 which carved out a bottom that saved the quarter. I can’t help but
remember just recently, the big month-end window dressing on the last few
trading days of May that drove the indices back toward the highs.
Interestingly,
the stab down on March 10 followed what looked like a reversal of sorts on
March 11 (which proved to be a false bottoming tail) which led to a flush out
on March 15 and March 16 which mirrors the pattern of the last three trading
days. So the next two sessions should be interesting indeed. With the S&P
perched on the 1300 fence, will it claw through support driving the S&P to
a test of 1250?
On the Square of 9 Chart, 1253 is opposite the date of February 18. The
big-picture question is, if the market declines to a test of the March 2011
low, whether this is a fractal of the double bottoms from March and August
double bottoms which elicited the last ditch rally an October high that year.
The question is if the 4-year cycle is playing out for a top, have we already
seen the July/October pattern in February/May? These were Initial Tops followed
by another final top another 90 degrees in time later marked by deep
interceding declines. Alternatively, is it possible that the correction we are
in now is the deep decline with yet another high on following quarter-end near
the 4-year anniversary of the July ’07 peak?
See
Square of 9 here. http://image.minyanville.com/assets/FCK_Jan2011/File/wheel661.JPG
The other specter that overhangs the market is as to whether, cyclically, this
is 1937 or 1911 or 1940. June 1 was a Solar Eclipse which tied to the Hook,
Line & Sinker Sell pattern in the market. The eclipse cycle or Saros cycle
is approximately 19 years. Two cycles back is roughly 40 years. In 1971, the cost
of the Vietnam War when Nixon was facing reelection forced him to abandon the
gold standard. Now we also have a president facing a reelection with and
involvement in wars which continue to drain our resources, and fears about the
rise of inflation. It’s been 40 years (40 days and 40 nights) with the world
reserve currency wandering in the desert.
In 1970 (2010), there was a big April top followed by a summer low. In 1971
(2011), there was a big top at the end of April/beginning of May that led to an
initial decline into August. In tomorrow’s report, we will take a look at how
that decline in 1971 played out.
The 100-year cycle is interesting as the Financial
Panic of 1907 is a good fit with the 2007/2008 Panic. Note the big low in late
February 1909 which is a good fit with the March 2009 low. In 1911 there was a
peak in February and a pivot on May 1 with a high and waterfall decline starting
from June.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/DJ%201909%20final%206-5-11.gif
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/DJ%201910%20final%206-5-11.gif
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/DJIA%201911%20final%206-5-11.gif
Is this more like where the market was in 1937 following the “recover” after
the 1932 low? Or, was 1937 a fractal of 2007/2008? After the big low in 1932,
the market rallied up for 5 years which mirrors the crash into 2002 followed by
a 5 year run into the 2007 top.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/DJ-1937-1942%20final%206-5-11.gif
From the October 11, 2007 S&P top to June 1/2, 2011 pivot high gives 1330
days (basically the 100% advance level off the low), the price
level where the recent failure occurred. In comparison, 1330 calendar days from
the March 1937 highs gives November 1940 (point A on the chart) which was prior
to a new leg down. Note the pattern of the low in late 1937/early 1938 closely
resembles the pattern of the low from November 2008/March 2009.
Finally, checking the 30-year cycle from 1891 we see that there was a final top
in late April 1981 after a wide and loose topping process. This fits in with
the closely weekly high this April following wide swings up down.
http://image.minyanville.com/assets/FCK_Jan2011/Image/cooper/0611/6/INDEX_$INDU_D%20--%20DOW%20JONES%20INDUSTRIAL%20AVERAGE.gif
Importantly, there was a false breakout in 1980 followed by a false breakdown
--all part of a broadening or Megaphone Top. What’s interesting is that there
was a Megaphone Top within a Megaphone top which made it difficult for traders
at the time. And still, after the second Megaphone Top played out there was yet
one more false new high (point C) for good measure. Is it possible that after a
stunning 100% persistent advance on the heels of a crisis that the market will
thwart bulls and bears alike and mirror the 10% juggernaut trading range traced
out in 1980/1981.
What is interesting is that the price low on the Dow Jones Industrial Average
occurred in 1981 followed by a somewhat higher low 2 years later in the summer
of 1982. Will the 2009 lows or the 2010 lows be tested in late 2011 to 2012?
Conclusion: The payroll figures were dismal on Friday giving rise to fears of a
double dip recession with no money left to fight it off and little political or
popular appetite to do so. The market is no longer shrugging off bad news. This
is a conspicuous change in character which means defense should be on the
field. The specter of a decline hangs over the market and no one knows which
cycle will dominate or whether we are in a bullish correction or on the way
down to test the 2011 lows, the 2010 lows or even the 2009 lows, but I don’t
think the next recession (when it comes) will be a recession [ meaning
depression … and, since we’re already there, the depression continues here, here
].’
Stocks’
plunge hits six weeks The Wall Street
slump reflects a sentiment among investors that the economic recovery is going
awry. (Washington Post) [ There never was a real recovery in economic terms,
particularly relative to costs; except, for the frauds on wall street for whom
all taxpayer largesse, ie., QE1 & 2, etc., was engineered. You know … that
wealth effect … for the frauds on wall street who did get wealthier at everyone
else’s expense. The frauds on
wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed…
an especially great opportunity to sell / take profits while you still can
since there's much worse to come! Selling
In May Is Very Good Advice This Year Harding Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert
Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Minyanville's
T3 Daily Recap: Bearish Close Foreshadows Deeper Correction at Minyanville
U.S.
trade deficit shrinks A weak dollar drove up exports of goods and services
to record levels. Jobless
claims rise Companies are cutting staff as demand slows because of tight
credit and elevated energy prices. (Washington Post) [ Jobless claims worse
than expected and the glaring absence of the ‘800 pound gorilla’; viz., the
Japanese auto sector giving an artificial boost to the u.s. auto ‘balance’ is
somewhat homologous, not analogous, to a footnote on an income statement for
extraordinary (ie., one time, etc.) items and structurally, nothing has
changed. Kill-Joy
Alert: Economic Data Not as Good As It Seems, Say Analystsat Forbes 6-9-11 Heather Struck ‘If
analysts these days are seeming like “the glass is half empty” kind of guys, it
may be for days like today, when this morning’s seemingly upbeat economic data
are already being met with unenthusiastic grumbling. A smaller trade gap may be
indicative of deeper problems, analysts are saying, as global events have
already seemed to tie into the U.S.’s tenuous economic recovery.
Steven Pearlstein Managing and even measuring a recession
becomes tricky in new, global environment.
(Washington Post) [ That depends on who’s doing the measuring. Certainly
if it’s ‘no-recession-helicopter-ben b.s. bernanke’, we now all know the great
recession that bernanke said would not occur, did; and, the QE bernanke said
would work, didn’t. The bottom line is that ‘they’, individually and
collectively haven’t the slightest idea what they’re doing, nor the slightest
clue what to do. The coverup invariably militates against the measuring. Bernanke:
Economy slowing but faster growth ahead-
AP [ Well, there you go … the new maestro, ‘no-recession-helicopter-ben
b.s. bernanke’, has covered all his bases; yes, the economy’s slowing but as
well, faster growth ahead. Nothing to worry about now in this ‘non-zero sum
game’; after all, either / or he’s gotta’ be right … wrong! The
GOP’s deficit demands Sen. Jon Kyl
offers the most specific outline yet of Republicans’ conditions in the
debt-ceiling talks. (Washington Post) [Moody’s:
U.S. credit rating at risk Agency
warns of a possible credit rating downgrade if a debt-ceiling deal cannot be
reached. (Washington Post) [ I’d say, as is true of their performance in the
last phase of this ongoing crisis, they are so typically late to the party.
After all, pervasively corrupt america is already defacto bankrupt. House
rejects debt ceiling increase The
317-to-98 vote was a bipartisan rejection of extending the nation’s current
debt limit of $14.3 trillion unless major spending reductions accompany the
legislation. (Washington Post) [ Well, perish the thought that increases in
liabilities should be commensurate with decreases in liabilities to maintain a
… balance … sheet? At this point, who’s counting? After all, are there really
degrees of defacto bankruptcy? Or, an either / or absolute state; viz., you are
or you’re not defacto bankrupt. Pervasively corrupt, defacto bankrupt america
is in fact defacto bankrupt!
National / World
90%
of Petraeus’ Captured ‘Taliban’ Were Civilians Gareth Porter | More than 80 percent
of those called captured Taliban fighters were released within days of having
been picked up, because they were found to have been innocent civilians.
Globalist
Org Reports 15,000 Dead in Libya Kurt
Nimmo | The corporate media usually dismisses Libyan claims
that the NATO terror campaign is killing innocent civilians.
Weiner
to seek help during leave Top Democratic leaders call on N.Y. congressman,
who said he is taking a “leave of absence,” to step down. (Washington Post) [
Sounds like a plan! Drudgereport: SEXTING WEINER OFF TO REHAB
PELOSI: You gotta' go...
DNC BOSS: RESIGN...
Chorus to quit grows...
Cops probe texts to teen girl...
MSG: 'Large. Tights and cape'...
Weiner admits, says they were harmless...
THE NEW TACK: Dem rep sick, needs
treatment to 'make himself well'...
Old Flame Calls on Him to Quit...
‘…he transcript of a
nine-month "sexting" relationship Weiner had with a Las
Vegas blackjack dealer. Radar Online posted the transcript, and it is rife
with misogyny and distorted views about women. In referring to oral sex, Wiener
tells her, “You will gag on me before you c** with me in you” and “[I’m]
thinking about gagging your hot mouth with my c***.” This is not about sex.
It’s about dominating and inflicting physical pain on a woman, a fantasy the
hard-core porn industry makes billions of dollars on selling to men. You don’t
want to gag a woman with your penis unless you have some serious issues with
the way you see women. As for his
other views of women, he tells her, “I hear liberal girls are very, uh,
accommodating of other[s],” playing on a bogus stereotype that politically
liberal women are promiscuous. When he asks the woman, who is Jewish, “You give
good h**d?” and she says yes, he exclaims: “Wow a Jewish girl who sucks c***!
this thing is ready to do damage.” ‘[
What a total mental case! ]
Even Mr. Milbank weighs in: ‘The
Weiner roast Congressman finds
himself in a fight he does not relish.’ Report:
SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec liar
(sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings, Volkman Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt america
also spends more on military than all the nations of the world combined... fed
employees / contractors, cia, all 3 branches of u.s. gov’t, etc., are included
in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Lawmakers
push for a new Afghan strategy
Congressional leaders are urging President Obama to take full advantage
of progress achieved by narrowing the focus of the Afghan mission. (Washington Post) [ It seems they’ve taken
Robert Browning to heart; viz., that ‘a man's
reach should exceed his grasp’ (from a poem by Robert Browning). Indeed,
they search for that ever elusive thing called ‘strategy’ vis-à-vis the
so-called ‘Afghan mission’ for the umpteenth time. For them, this is but a
‘mission impossible’ as a strategy implies method to this reality of their
madness. The heroin trade which they’ve ramped up (the Taliban had all but
eradicated same) and commandeered as their own has been reason enough; yet, fog
of war creates many opportunities for the american criminals despite the
defacto bankruptcy of the nation. So, for the war criminal americans, reality
certainly falls within the ambit of beyond their grasp. Though having but 5% of the world’s population, the u.s. has 76% of
the world’s serial killers, http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt america also spends more on military than all
the nations of the world combined... fed employees / contractors, cia, all 3
branches of u.s. gov’t, etc., are included in this evolved american trait of
inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]:
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE...‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
All this hasn’t
punctured the wishful thinking at the Fed and on Wall Street, where
corporate profits are expected to prove stock prices are too cheap. Here’s the
list of the wishful thinking items I heard or read today;
*There won’t be a
default on US debt– or even a reduced credit rating. I have to admit a
gnawing anxiety about resolving budget cuts sufficient to raise the debt limit
by trillions. Yes, trillions. Could there really be a political stalemate
and flirtation with a crisis over our finances? I’m beginning to think the
worst of all possible worlds. China and Germany are looking to reduce our
credit rating. Comes the revolution, an overthrow of American financial
superiority.
*Oil prices will
decline and that development will allow consumers to spend money and
stimulate the economy. Maybe they will– and maybe they won’t. Rules should
installed to limit speculation in energy futures by institutional investors.
*We are close to a
bottom in housing. My answer; we’ve been told we were close to a
bottom for many months now– and it’s an absurd notion. Yale’s Schiller is
suggesting the loss in housing values could be another 10-20%. Goldman Sachs
called this horror story over a year ago.
* If the economy doesn’t
pick up, Fed Chief Bernanke will declare QE3. Except that QE2 failed to create
jobs or economic activity. It only served to help speculators in gold, silver
and oil. There will be an outcry if QE3 is declared as it only helps the gold
lovers– and they are already filthy rich.
* The bank stocks are
selling below book value; their balance sheets are clean. It’s an enormous
buying opportunity. Then, why was there talk about busting up Morgan Stanley
today. Liquidating a major investment bank? Now, that’s a devilish sign
of serious trouble on the horizon.
*Here’s the most
unhealthy element that’s operative; corporate profits and executive
compensation have been strong– while wages for ordinary Americans are lower.
“What is to be done?” asked Lenin in 1917. Neither the White House nor
Wall Street know what to do to turn this decline around.
We are all being
challenged by a deterioration that seems to have no obvious public policy
solution. Pain is coming.’
15 Reasons Markets Cracked Below Critical Trading Levels Wall St Cheat Sheet June 11, 2011, Dow 11,951 S&P500 1,270 Nasdaq 2,643 Gold 1,532
Oil 99
‘Markets were range
bound Monday through Thursday until taking a dive Friday. Oil (NYSE:USO) couldn’t stay above $100 a barrel. Gold (NYSE:GLD) and Silver (NYSE:SLV) shed a few points as the US Dollar (NYSE:UDN) had a little rally.
Fresh Off the Press: Wall
St. Cheat Sheet’s newest Feature Trades of the Month!
Now, for the 15 reasons
markets moved this week:
Monday
1) Banks spooked a low
volume market. Famed investors John
Paulson and David Tepperare offloading their holdings in financial
institutions. Bank of America (NYSE:BAC) and Citigroup (NYSE:C) are still under major scrutiny for their books.
And, Goldman Sachs (NYSE:GS) can’t shake the threat of major lawsuits. All that
was enough to put financials (NYSE:XLF) in a tailspin for the day.
2) Apple WWDC took
center stage. Tech titan Apple (NASDAQ:AAPL) announced all their big new items for the
acolytes. iCloud, iTunes Match, and the new iOS 5 were all stars of the show.
We covered the event live
in detail, then put together your
Cheat Sheet to everything you need to know about WWDC.
3) Airlines and Autos
were a major drag. The International
Air Transportation Association offered up bad news as profit outlooks
were slashed due to the disaster in Japan (NYSE:EWJ), the Grimsvotn volcano,
and rising fuel costs (NYSE:USO). On the ground, General Motors (NYSE:GM) hit fresh 52-week lows, down 1.92% to $28.56.
Tuesday
1) Bernanke admitted the
economy was slowing. Well, he admitted it then said he thinks growth will be
back soon. Don’t worry, soon. Although lustful traders were hoping for some
huge QE3 announcement, Bernanke
still gave us more QE 2.5 where the Fed will continue buying securities and
accommodating the financial markets as needed. Can someone say, ZIRP?
2) E3 took the baton
from Apple. Yesterday Apple held the tech spotlight, but today the exciting
video game sector was front and center. Microsoft (NASDAQ:MSFT), Sony (NYSE:SNE), Nintendo and all the big game makers started
pulling back the curtain on what gamers will die for during the holiday season
(Check Out: E3
Wrap Up. And the Winners are …). That’s 180 degrees away from former tech
darling Research in Motion (NASDAQ:RIMM) which
keeps crashing and burning.
3) Another Economic
Advisor gone. Austan Goolsbee will be leaving his position as chairman of the
White House’s Council of Economic Advisers. Wall St. Cheat Sheet Assistant
Editor Emily Knapp explores the deeper question, “Why
is Obama’s Economic Team Bailing Out?”
Wednesday
1) OPEC. Crude (NYSE:USO) had been down the last few days in anticipation
of OPEC increasing the cap on production. But this morning when they decided to
maintain production restrictions at current levels, it was the only big
financial news release, so oil futures skyrocketed while everything else
remained relatively still. See
Why It’s All About That Texas Tea.
2) Tech has been
unimpressive, at best. With no really big news or cool new gadgets coming out
of Apple’s (NASDAQ:AAPL) Worldwide Developers Conference, Nokia (NYSE:NOK) continuing its downward spiral, the legality of
the AT&T’s (NYSE:T) buyout of T-Mobile still being debated, and a host
of unimpressive numbers from companies like Microsoft (NASDAQ:MSFT) and LinkedIn (NYSE:LNKD), the usually booming tech sector has been taking
a bit of a vacation this week.
3) The Beige Book. The
Federal Reserve released the Beige Book this afternoon, a snapshot of the
country’s economic condition. Unsurprisingly, we’re not doing that great.
Progress has slowed in just about every sector while many companies are facing
higher input costs, passing them on to consumers in the form of higher prices.
Nothing dampens the market like reminding people just how bad things are.
Thursday
1) Economic Indicators.
This morning data from the Federal Reserve showed the trade
deficit is narrowing. That got markets off to a good start. The
positive news was followed up by better than expected wholesale inventory
reports and significant decreases in consumer debt. Not all good news on the
macro-economic front though as initial
jobless claims were slightly worse than expected and the Fed reported a
missing $6.6
trillion dollars in consumer wealth since 2007.
2) Mining and
Agriculture led the way. In spite of reports that corn (NYSE:CORN) reserves are at the lowest levels since the
1970s, Mining and Agriculture (NYSE:RJA) stocks largely out-performed the market today. A
report from PriceWaterHouseCoopers indicating revenues in mining companies are
shooting “through
the roof” sparked the bulls in the sector, and stocks such as Deere &
Company (NYSE:DE) and Mosaic (NYSE:MOS) posted big daily returns.
3) The Financial Sector
took a breather. Bruised and battered financials (NYSE:XLF) finally took a day off from losses, with the
sector also out-performing the market on the day. Bank (NYSE:KBE) stocks were up across the board in spite of new
pending lawsuits for Morgan Stanley (NYSE:MS) and Goldman-Sachs (NYSE:GS), and a hacker-assault
on Citigroup (NYSE:C) that compromised information of over 200,000
customers. Income from banks’ debit card transaction fees is also set to take
a big hit when the Dodd-Frank reforms go into effect next month, but
analysts believe those estimates have already worked their way into pricing.
Friday
1) Oil Production is up.
Saudi Arabia curbed oil supply fears later in the day by announcing they would
step to the plate and up oil production significantly. The drop in oil prices
was somewhat extreme given yesterday’s data that for the first time in
history oil
consumption outpaced production in 2010.
2) Dollar prices firm.
The dollar (NYSE:UUP) finished the day up 1.23% versus the Euro, + .05%
versus the Yen, and +.09% against the Pound. Currency values surged on news
that QE3 probably isn’t coming anytime soon. The same news also sent investors
into a panic and prompted stock sell-offs.
3) Bad news overseas. A
number of reports of weak economic data came in today from across the pond in
England (NYSE:EWU), where UK manufacturing output was significantly
lower than expected. Worries continued to swirl amid default concerns related
to Greek Debt and ECB offered little reassurance. News from Asia was crappy too
as Chinese markets (NYSE:FXI) were growing slower than expected and a trade
surplus was below-par level expectations, Korean bank (NYSE:EWY) raised its interest rates, and industrial
production slowed in India (NYSE:IFN). The aggregate news combined to put a damper on
the market…’
Minyanville's
T3 Weekly Recap: Market Extends Weekly Losing Streak to 6 at Minyanville
Top
3 Reasons Markets Faltered as Dow Dips Below This Psychological Level Wall St. Cheat Sheet
Is the Stock
Market Signaling a Double-Dip? ETFguide
Simon Maierhofer, June 10, 2011, Over the past few
weeks various economic indicators have been building a coffin for the U.S.
economy. Could Friday's unemployment figures be the last nail?
Before we entertain the
much dreaded D-D word (Double Dip), let's take a look at some of the economic
numbers and see if it's really that bad.
Housing Market
May's data for housing
was all bad. It started out with weak housing starts reported on May 17 and
continued with worse than expected pending home sales (May 27) and an
S&P/Case-Shiller Home Price Index that dipped to the lowest level since
March 2003.
The discrepancy between
the performance of real estate (NYSEArca: IYR - News), REIT ETFs (NYSEArca: VNQ - News), and the actual real estate
market has long highlighted the absurd power of QE2 to lift stocks but leave
the rest of the economy in the dust.
The chart below shows
the performance of the S&P/Case-Shiller Home Price Index (20-Composite).
http://www.etfguide.com//contributor/UserFiles/8/Image/SPCase-Shiller.gif
Unemployment
This weekend's Wall
Street Journal put a positive spin on the jobless report and simply stated:
'Job market loses momentum.' If you really look at the numbers, you'll see that
the jobless recovery never had any momentum.
It's taken a lot of
lipstick and statistical alchemy, such as excluding workers that have been
out of a job for more than 99 weeks and simply decreasing the workforce, to
keep this 'pig' more presentable than it really is.
Consumer Confidence
Consider this for a
moment. In May 2011, small caps (NYSEArca: IWM - News) and mid caps (NYSEArca: MDY - News) reached an all-time high. I
won't spend time pointing out how contradictory this is to the global economic
(NYSEArca: EFA - News) picture.
Despite certain segments
of the market being at all-time highs and the Dow Jones (DJI: ^DJI), S&P
(SNP: ^GSPC), and Nasdaq (Nasdaq: ^IXIC) at new recovery highs, the Consumer
Board's Consumer Confidence Index was at a dismal 60.8 in May.
http://www.etfguide.com//contributor/UserFiles/8/Image/CCB%20Confidence%20Index.gif
As the above chart
shows, the average reading since 1967 is 94.5. The current reading is lower
than it was after the 9-11 attacks and about as low as in 2002. Consumer
spending accounts for 75% of GDP. What happens if the consumer doesn't feel
confident?
Worse than Expected
Other worse than
expected numbers in May came from the Empire State Manufacturing Survey, Redbook
Retail Survey, Philly Fed Survey, Durable Goods Orders, GDP, Chicago PMI, and
the ISM Manufacturing Report.
They were worse than
expected because economists - who are generally bullish at the top and bearish
at the bottom - expected much better numbers. Thanks to Citigroup, it is now
possible to quantify just how right or wrong economists are.
The Citigroup Economic
Surprise Index measures actual data outcome relative to consensus expectations.
A positive index reading means that economic releases have, on balance, been
beating consensus estimates. As of June 2, the index was at -91 (see chart
below).
http://www.etfguide.com//contributor/UserFiles/8/Image/Citigroup%20ESI.gif
Dare to be
Different
Unlike most economists,
the ETF Profit Strategy Newsletter expected the market to peak out after an
April rally. Following a low-risk entry against major Fibonacci support at
1,255 in March, the S&P formed a rare bullish dragonfly doji. The
Newsletter's forecast for the month of April (issued on April 3) read as
follows:
'A dragonfly doji
generally carries bullish implications. Considering the overall technical
picture and the bullish April seasonality, higher prices seem likely and odds
favor a buy the dips strategy over the next 1-3 weeks. There is a fairly strong
Fibonacci projection resistance at 1,369. In terms of resistance levels, the
1,369 - 1,xxx (reserved for subscribers) range is a strong candidate for a
reversal of potentially historic proportions.'
The importance of 1,369
was re-emphasized again on May 1, with a recommendation for aggressive
investors to short the S&P against 1,369. Following a 46-month low in the
VIX (Chicago Options: ^VIX) on Friday April 29, the S&P topped on Monday
May 1, at 1,370 and hasn't really looked back since.
Adjusting the
Sensors
The purpose of any
sensor, gauge, or indicator is to signal trouble before it happens. A 'Check
Engine' light doesn't help much if it lights up after the engine blows.
The proverbial canary in the coal mine is vital because it smells toxic gases
before anyone else does.
Unfortunately, Wall
Street doesn't subscribe to the concept of prevention, and neither do
economists. If they did, there wouldn't have been a 2002 tech crash (NYSEArca: XLK - News), a 2005 real-estate crash,
or a 2007 financial crash (NYSEArca: XLF - News).
Many economic indicators
(and the economy) never really recovered. Normally this is reflected in stock
prices. However, like a muzzle, QE2 has restrained the stock market from
expressing its feelings freely.
Perhaps there is hope
that Mr. Bernanke will unleash some version of QE3, but now is not the time to
base investment decisions on hope. After a 100%+ rally from the 2009 low, the
easy money has been made.
Profiting in the years
to come won't be a piece of cake and may require more than the Wall Street
Journal's list of 1,000 biggest stocks and a dart…’
Ron Paul
says inflation will hit 50 percent New
Hampshire Union Leader | Inflation will hit 50 percent in the
next couple of years, thanks to the massive debt the country has accumulated.
Stocks
Fall on Dow’s Longest Slump Since 2002 Bloomberg | U.S. stocks fell for the sixth straight
week, giving the Dow Jones Industrial Average its longest slump since 2002.
Many
of us won’t be able to retire until our 80s Marketwatch.com | Many Americans will have to keep on
working well into their 70s and 80s to afford retirement.
Debt-reduction
talks gain speed VP (Lobotomy Joe) Biden and congressional negotiators
agree to pick up the pace of debt-reduction talks in hopes of presenting the
framework of an agreement to President Obama and congressional leaders by the
end of the month (Washington Post) [ Sounds like a plan! Poll:
Americans torn over debt limit POST-ABC
NEWS POLL | A large majority say the economy would probably suffer serious harm
if Congress fails to raise the federal debt limit. But barely half support
doing so, even if lawmakers also slash spending. (WP) [ I think we’re at that
point alluded to by Davis; viz.,
Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded
liabilities. The funniest thing about this (and you have to laugh) is to see
Conservative pundits get on TV and talk about how we need to cut $100Bn worth
of discretionary spending to "fix" this (while continuing to spend
$1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is
no fixing this and even a Republican said you can’t fool all of the people all
of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money--America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away! ‘ Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.]
U.S.
trade deficit shrinks A weak dollar drove up exports of goods and services
to record levels. Jobless
claims rise Companies are cutting staff as demand slows because of tight
credit and elevated energy prices. (Washington Post) [ Jobless claims worse
than expected and the glaring absence of the ‘800 pound gorilla’; viz., the
Japanese auto sector giving an artificial boost to the u.s. auto ‘balance’ is
somewhat homologous, not analogous, to a footnote on an income statement for
extraordinary (ie., one time, etc.) items and structurally, nothing has
changed. Kill-Joy
Alert: Economic Data Not as Good As It Seems, Say Analystsat Forbes 6-9-11 Heather Struck ‘If
analysts these days are seeming like “the glass is half empty” kind of guys, it
may be for days like today, when this morning’s seemingly upbeat economic data
are already being met with unenthusiastic grumbling. A smaller trade gap may be
indicative of deeper problems, analysts are saying, as global events have
already seemed to tie into the U.S.’s tenuous economic recovery.
The data showed that the
U.S. trade deficit narrowed to $43.68 billion in April, a 6.7% drop from the
month before. The drop was fueled by a $3.7 billion drop in oil imports to the
U.S., which has been dealing with higher energy prices. Kevin Logan, chief U.S.
economist for HSBC, says this detail makes the data less a predictor of future
growth than it usually would be.
“Normally an improvement
in the trade balance leads to an increase in estimates of GDP growth in the
quarter. But if the trade balance is improving because of an across-the-board
drop in demand for oil products there should be little impact on GDP growth,”
Logan said.
U.S. exports grew 1.8%
to $153.3 billion in April, the Commerce Department said. However, a portion of
that may be attributed to plant closures in Japan following the earthquake and
tsunami there, moving supply-chain momentum to the U.S.
On top of a separate
report from the Department of Labor Thursday that showed that jobless claims
were at a two-month low last week (See “Jobless
Claims Inch Higher”), the data nonetheless helped to move markets broadly
up, with the biggest gains in the Dow, which gained more than 1% by 2:00 p.m.
in New York to 12,172. U.S. Treasuries have been falling since the morning,
however, the yield on the 10-year bonds reaching 3.01% after a lengthy streak
below the 3% mark.
To round off the day’s
economic news, ECB President Jean-Claude Trichet used the words that everyone
was waiting for – “strong vigilance” – in a talk Thursday morning, signalling
that an interest rate hike may be coming for the central bank of the EU. The
euro, in response, dipped 0.5% against the dollar today to 1.4506.’
National / World
6
in 10 Americans Now Oppose Obama’s War in Libya The Atlantic | The president has made
himself vulnerable by launching the conflict without congressional cover.
Globalist
Org Reports 15,000 Dead in Libya Kurt
Nimmo | The corporate media usually dismisses Libyan claims
that the NATO terror campaign is killing innocent civilians.
The
Senate’s sound of silence “Quorum
calls” usually do nothing besides fill up empty minutes; this year, there are
more of them. (Washington Post) [ Ah,
yes! When there is complete silence, freedom will ring; after all, they can’t
muck up what they’re not in session to f***up!
Milbank:
Congress clocks in to clock out (Washington Post) [ ‘At 10 a.m. Tuesday morning, the Senate came
to order. Forty-one seconds later, it adjourned. During this legislative
session, there was no bill under consideration, no debate on the floor, not
even an opening prayer or a pledge of allegiance. The only senator in the
chamber was Mark Warner (D-Va.), the presiding officer. ‘After completing his gavel duties, Warner
looked up at the 20 tourists in the public gallery and wondered aloud to the
clerk what the spectators must think of the proceedings.“They think, ‘this is
our government?’ ” the clerk replied. That’s if they’re being charitable. The
Senate is supposed to be in Memorial Day recess this week. But the chamber is
so ungovernable that Majority Leader Harry Reid doesn’t even have the votes to
declare a recess. So he decided instead to have a few “pro forma” sessions,
such as Tuesday’s, allowing senators to take a vacation without voting for it.
In a sense, the Senate has been in a pro-forma session all year…’ Now who’s
being charitable … I’d say Mr. Milbank in his euphemistic description supra as
well as his unflinching defense of
wobama the b (for b***s***) despite wobama’s reneging on virtually all his
campaign promises / rhetoric to the nation’s unequivocal detriment. Thus, it is
indeed Mr. Milbank, journalistically speaking, who as well clocks in to clock
out. Simply put, wobama is nothing less than the worst of the democratic
platform combined with the worst of the republican platform. At near single
digit approval rates for congress, I find it difficult to imagine a realistic
approval rate for wobama exceeding same.
Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS
HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Senate
Dems find themselves in a tough spot (WP) [ Tough spot? Like Iraq and a hard
place called Afghanistan; indeed they are. [Pakistani
troops, NATO helicopters engage in firefight 6th
soldier charged in plot to kill Afghan civilians (Washington Post) [ Gen. Hamid Gul: U.S. Generals Provoking War with Pakistan
Jones FLASHBACK: Editorial: US in
quagmire War
in Afghanistan and Iraq costs America $1trillion Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
]
Ex-NSA
official avoids jail time Accused leaker Thomas Drake will plead guilty to
a misdemeanor; other charges will be dropped. (Washington Post) [ This man
deserved an award or medal while the nation destroying big wall street frauds
have been too connected to fail or jail. The failed story of pervasively
corrupt, defacto bankrupt america. The story of decline and fall of a nation. America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed… an especially great opportunity to sell / take profits
while you still can since there's much worse to come! ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.]
Selling
In May Is Very Good Advice This Year Harding Remember: Sell in May and Go Away and If You’ve Not Sold by
June, You’re a Loon! ‘ ‘Albert
Edwards: Thinks the Market Could Fall 70%’ [ He’s not alone! PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. Minyanville's
T3 Daily Recap: Bearish Close Foreshadows Deeper Correction at Minyanville
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Weiner: What a total mental case! What can you expect from national sinkhole new york
(new york / new jersey metro area).
Jon
Stewart’s cutting Weiner satire “The
Daily Show” host stopped pulling punches and made himself the star of the
story. (Washington Post) [The comedic gift that keeps on giving …‘what’s in a
name?’ On the serious side, it’s a psychoanalytic field day; what a total
mental case! Pressure
ramps up on Weiner to resign Weiner’s
political survival in doubt Rebuked
by fellow Democrats, the congressman faces a likely House ethics committee
investigation. (Washington Post) [ But his survival as a ‘cyber hot dog’ is
assured. After all, you can’t expect to have everything in this world; you
know, ‘have your hot dog on display and eat it too’. Anthony’s Weiner is
destined to live in infinity; or should I say infamy] New X-rated Weiner photo hits
web... Report:
SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec liar
(sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings,Volkman DEMS BAILING...
Old Flame Calls on Him to
Quit... ‘the
transcript of a nine-month "sexting" relationship Weiner had with a Las
Vegas blackjack dealer. Radar Online posted the transcript, and it is rife
with misogyny and distorted views about women. In referring to oral sex, Wiener
tells her, “You will gag on me before you c** with me in you” and “[I’m]
thinking about gagging your hot mouth with my c***.” This is not about sex. It’s
about dominating and inflicting physical pain on a woman, a fantasy the
hard-core porn industry makes billions of dollars on selling to men. You don’t
want to gag a woman with your penis unless you have some serious issues with
the way you see women. As for his other views of women, he tells her, “I hear
liberal girls are very, uh, accommodating of other[s],” playing on a bogus
stereotype that politically liberal women are promiscuous. When he asks the
woman, who is Jewish, “You give good h**d?” and she says yes, he exclaims: “Wow
a Jewish girl who sucks c***! this thing is ready to do damage.” ‘[ What a total mental case!
What can you expect from
national sinkhole new york (new york / new jersey metro area). ] Report:
SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec liar
(sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ Cummings,Volkman
REPORT: Weiner coached woman
to lie...
TMZ: Offered PR help...
Dems Begin Peeling Off...
Breitbart says he has X-rated
photo...
WHACKED, NOT HACKED!
'Used govt.
resources'...
Breitbart: 'I Want To Hear
Truth'...
6 'inappropriate'
relationships...
ABCNEWS: Mystery Woman
Revealed...
HER STORY...
Risqué Online Chats, Photo
Swaps...
SLIDESHOW...
VIDEO: 'Web of lies'...
TWITTER TEARS: WEINER
ADMITS
REPORT: Woman claims to have
200 explicit messages from NY Dem...
IT MIGHT BE MY WEINER! REPORT: WEINER'S TALE
UNRAVELING... By
Daniel Libit Sunday, June 5,
2011 ‘As the world has attempted to make sense of Rep. Anthony Weiner’s claim
that his Twitter account was hacked, a key clue has been missing: exactly how
the notorious groin pic was posted online. But according to data provided
exclusively to The Daily from TweetCongress.org, a nonprofit website that
captures each member of Congress’s Twitter feeds in real time, the shot seen
round the world was transmitted using TweetDeck — a popular Adobe desktop
application that links up with social networking sites. A review of Weiner’s
Twitter stream from May 27, the day of the crotch pic, shows that Weiner had
been posting only from TweetDeck — one of many ways to post messages to Twitter
— that entire night. Chet Wisniewski, a senior security adviser at security
software company SophosLabs, said the TweetDeck stamp “does make it more
plausible that it did come from him.” Weiner used TweetDeck frequently, but he
often also posted from the Web directly or from his BlackBerry. A widely
circulated explanation for how Weiner’s Twitter account could have
been hacked by email would also seem to be incompatible with the fact that the
message in question originated on TweetDeck. If email had been used, the message
probably would have originated via the photosharing site Yfrog, where the
infamous picture was posted …’ [ Weiner admits he sent lewd picture; won't quit (AP)
- After days of denials, a choked-up Rep. Anthony Weiner confessed Monday
that he tweeted a photo of his bulging underpants to a young woman, and he also
admitted to "inappropriate" excha...’
Tearful US congressman admits to crotch photos (AFP) ]
'This Could Be The End For
Him'...
’Pot Calls Kettle
Black’: Donald Trump Unloads on Anthony Weiner: "He's a Psycho" - Donald Trump has a new target, and boy does
he look pleased. "The fact is, Anthony Weiner is a bad guy," the
Celebrity Apprentice honcho, who recently decided against running for...
'Have You Ever Taken A
Picture Like This Of Yourself?'...
WEINER CALLS COPS ON CBS WASHINGTON
(CBSNewYork) — ‘Congressman
Anthony Weiner said Thursday he’s finished talking about the lewd photo sent
from his Twitter account.But he still wouldn’t say whether
he’s the one in the picture.So CBS 2 political reporter Marcia Kramer
decided to go to his office on Capitol Hill to try to get you some
answers.You’ll never believe what happened.Kramer tried to get an interview
with the six-term New York Democrat and as a result had the cops called on
her.Kramer walked in to Weiner’s office, announced herself as being from CBS 2
in New York City and said she’d like to see the congressman. Those few words
created quite the stir. Doors slammed and people pretended she wasn’t there
...’ Weiner’s
efforts don’t cool furor The
congressman said that he didn’t send a lewd photo on Twitter but also that he couldn’t
“say with certitude” whether the image was of his own crotch. (Washington
Post) [ ‘Weiner’s weiner’! ‘Not cool
furor’ … how ‘bout just plain ‘not cool’. Eh … what can you expect from
national drain / sinkhole new york (new york / new jersey metro). I haven’t
read but probably agree with the following article: Listen
up, fellas: Naked man-parts? Not so sexy. (Washington Post) / … Even Mr.
Milbank weighs in: ‘The
Weiner roast Congressman finds
himself in a fight he does not relish.’ Report:
SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec liar
(sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ John
Cummings
(Author), Ernest
Volkman (Author) Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]:
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
In short, Albert sees
that the structural bear market in equities has not yet reached bottom. “We
have long said that the de-bubbling process would end only when equities become
very cheap and revulsion in equities as an asset class hangs in the air like a
fog,” commented the famed strategist.
“Equity investors are in
for a rude shock. The global economy is sliding back into recession and they
are still not even aware that these events will trigger another leg down in
valuations, the third major bear market since the equity valuation bubble
burst. We will return to the valuation nadir last seen in 1982, with the
S&P bottoming around 450.”
Albert is never short of
drawing analogies: Investors’ continued optimism “as the equity bloodbath of the
last decade enters its final, even bloodier phase” reminded him of the Black
Knight in Monty Python & the Holy Grail. “Despite being
grievously wounded by King Arthur, the Black Knight makes light of his injuries
which he dismisses as a flesh wound. The vast bulk of the investment industry
fails to appreciate that we are locked in a structural bear market and about to
enter Act III,” he concluded.’
US
Is Nearing Even Worse Financial Crisis: Jim Rogers Margo
D. Beller | The U.S. is approaching a financial crisis worse
than 2008. ‘The U.S. is approaching a
financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings,
warned CNBC Wednesday.“The debts that are in this country are skyrocketing,” he
said. “In the last three years the government has spent staggering amounts of
money and the Federal Reserve is taking on staggering amounts of debt…’
Oil
price rises sharply after Opec meeting collapses in disarray Guardian | Proposal to increase
production rejected by 6 of 12 members.
U.S. Trade
Deficit Unexpectedly Narrows Bloomberg
| The U.S. trade deficit unexpectedly narrowed in April.
Initial
Jobless Claims Rise by 1,000at
TheStreet
US
Trade Deficit Narrows, But Does This Amount Matter?Wall St. Cheat Sheet
Top 3 Reasons Markets Bounced Back After 6-Day Losing Streak
AAII
Sentiment Survey: Pessimism SpikesWall
St. Cheat Sheet
10 Reasons the Market Pullback Will Continue
Americans Don’t Believe Government Lies: “Forty-Eight
Percent Say That Another Great Depression Is Likely To Occur In The Next Year …
More Than Eight In Ten Americans Say That The Economy Is In Poor Shape” Federal
Reserve chairman Ben Bernanke says that jobs and growth will pick up in the
second half of the year.
National / World
Obama
loses bin Laden bounce; Romney on the move among GOP contenders (Washington
Post) Steven
Pearlstein The Good Mitt had so much potential. The Bad
Mitt jeopardizes it by inartfully pandering to the right wing. (Washington Post) [ Yeah! I do think Mr.
Pearlstein has touched upon an obscure if not fine line which does indeed
undermine faith in the Romney candidacy. After all, after ‘wobama the b’ (for
b***s***) it’s ‘voter beware’ like never before. The pandering to the israeli
lobby, zionists, neo-con right wing is so unctuous and transparent that it
substantially undermines his otherwise ‘desirability factors’ as a candidate.
Wobama is a grim reminder of the damage that not doing as pledged can do to
this nation particularly, and other nations less directly (ie., mideast, euro
zone, etc.). As such, for one to support Romney in light of his indefensible,
misguided israeli stance, they’d be put in the untenable position of believing
that he didn’t mean what he said; or, put another away, that they don’t believe
what he said. Romney
says he can heal economy He kicks
off presidential bid by trumpeting his record as a turnaround specialist in
business. (Washington Post) [ Well, he’s certainly not going to do that by
toeing the israeli lobby line as did failed president wobama the b (for b***s***),
despite his recent rhetoric (meaningless coming from wobama the b) seemingly,
but not really in terms of action (he’s literally continued the perma-war
policies of war criminal and moron dumbya bush; ie., Afghanistan, Libya, etc., Drudgereport: FLASHBACK:
Obama: U.S. Involvement Would Last 'Days, Not Weeks'... OBAMA
FIGHTS FOR HIS RIGHT TO BOMB LIBYA... Deadliest
day this year... WARS
RAGE ON... U.S.
Dead in Afghanistan Tops 1,500...
OBAMA
HITS GOLF COURSE FOR ROUND NO. 70... ON
THE GROUND IN LIBYA . This despite the defacto bankruptcy of the
nation. It is time to tell the mentally deficient at the pentagon along with
other war mongering neocons that the days of their easy money, fog of war
thefts (ie., 360
tons of $100 bills flown into Iraq and ‘disappeared’, etc. ) and nebulously fat budgets are over. Stated another
way, math, economics, and finance count. I’d say law should count but we all
know that’s not the case in meaningfully lawless america (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed). Obama
is committed to Israel (Washington Post) Rahm Emanuel He’s been invested
since his first days in office.{Yes! I do believe this is among the few
instances when emanuel is telling the truth; and, pervasively corrupt, defacto
bankrupt america has the red ink, red blood (of u.s. soldiers), and failed
geopolitical strategy to prove it.}
Robert
Gates: Kucinich move on Libya ‘dangerous’ Politico | Gates says move to end Libya attack would
undermine alliances and military operations.
House
Republicans Kill Kucinich’s Libya Withdrawal Bill FoxNews.com | Yanked from schedule
only after it became clear that it might succeed. { In robert gates’ cia-alice-in-wonderland
world, a failed defacto bankrupt american banana republic with gunboat
diplomacy will do just fine (thank you very much for your wasted tax dollars).
}
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Pressure
ramps up on Weiner to resign A
handful of Capitol Hill Democrats call for the New York congressman to step
down. (Washington Post) [ Weiner's
political life dims as lewd photo appears (AP) AP - Embattled New York Rep. Anthony Weiner's
prospects for political survival dimmed precipitously on Wednesday with the
appearance on the Internet of an X-rated photo said to be of the congressman —
and the first calls from fellow Democrats for him to step down. Weiner’s
political survival in doubt Rebuked
by fellow Democrats, the congressman faces a likely House ethics committee
investigation. (Washington Post) [ But his survival as a ‘cyber hot dog’ is
assured. After all, you can’t expect to have everything in this world; you
know, ‘have your hot dog on display and eat it too’. Anthony’s Weiner is
destined to live in infinity; or should I say infamy …] New
X-rated Weiner photo hits web...
Weiner:
That's my weiner, too...
Another
Weiner Sexter Emerges...
POLITICO
on Weiner: 'Dam is breaking'...
DEMS
BAILING...
Old
Flame Calls on Him to Quit... ‘…he transcript of a nine-month "sexting"
relationship Weiner had with a Las
Vegas blackjack dealer. Radar Online posted the transcript, and it is rife
with misogyny and distorted views about women. In referring to oral sex, Wiener
tells her, “You will gag on me before you c** with me in you” and “[I’m]
thinking about gagging your hot mouth with my c***.” This is not about sex.
It’s about dominating and inflicting physical pain on a woman, a fantasy the
hard-core porn industry makes billions of dollars on selling to men. You don’t
want to gag a woman with your penis unless you have some serious issues with
the way you see women. As for his other views of women, he tells her, “I hear
liberal girls are very, uh, accommodating of other[s],” playing on a bogus
stereotype that politically liberal women are promiscuous. When he asks the
woman, who is Jewish, “You give good h**d?” and she says yes, he exclaims: “Wow
a Jewish girl who sucks c***! this thing is ready to do damage.” ‘[ What a total mental case! ]
REPORT:
Weiner coached woman to lie...
TMZ:
Offered PR help...
Dems
Begin Peeling Off...
Breitbart
says he has X-rated photo...
WHACKED,
NOT HACKED!
'Used govt. resources'...
Breitbart:
'I Want To Hear Truth'...
6
'inappropriate' relationships...
ABCNEWS:
Mystery Woman Revealed...
HER
STORY...
Risqué
Online Chats, Photo Swaps...
SLIDESHOW...
VIDEO:
'Web of lies'...
TWITTER TEARS: WEINER ADMITS
REPORT:
Woman claims to have 200 explicit messages from NY Dem...
IT
MIGHT BE MY WEINER! REPORT:
WEINER'S TALE UNRAVELING... By Daniel Libit Sunday, June 5, 2011 ‘As the world has attempted to
make sense of Rep. Anthony Weiner’s claim that his Twitter account was hacked,
a key clue has been missing: exactly how the notorious groin pic was posted
online. But according to data provided exclusively to The Daily from TweetCongress.org,
a nonprofit website that captures each member of Congress’s Twitter feeds in
real time, the shot seen round the world was transmitted using TweetDeck — a
popular Adobe desktop application that links up with social networking sites. A
review of Weiner’s Twitter stream from May 27, the day of the crotch pic, shows
that Weiner had been posting only from TweetDeck — one of many ways to post
messages to Twitter — that entire night. Chet Wisniewski, a senior security
adviser at security software company SophosLabs, said the TweetDeck stamp “does
make it more plausible that it did come from him.” Weiner used TweetDeck
frequently, but he often also posted from the Web directly or from his
BlackBerry. A widely
circulated explanation for how Weiner’s Twitter account could have
been hacked by email would also seem to be incompatible with the fact that the
message in question originated on TweetDeck. If email had been used, the
message probably would have originated via the photosharing site Yfrog, where
the infamous picture was posted …’ [ Weiner admits he sent lewd picture; won't quit (AP)
- After days of denials, a choked-up Rep. Anthony Weiner confessed Monday
that he tweeted a photo of his bulging underpants to a young woman, and he also
admitted to "inappropriate" excha...’
Tearful US congressman admits to crotch photos (AFP) ]
'This
Could Be The End For Him'...
’Pot Calls
Kettle Black’: Donald Trump Unloads on Anthony Weiner: "He's a Psycho" - Donald Trump has a new target, and boy does
he look pleased. "The fact is, Anthony Weiner is a bad guy," the
Celebrity Apprentice honcho, who recently decided against running for...
'Have
You Ever Taken A Picture Like This Of Yourself?'...
WEINER
CALLS COPS ON CBS WASHINGTON (CBSNewYork) — ‘Congressman Anthony Weiner said Thursday he’s
finished talking about the lewd photo sent from his Twitter account.But he
still wouldn’t say whether
he’s the one in the picture.So CBS 2 political reporter Marcia Kramer
decided to go to his office on Capitol Hill to try to get you some
answers.You’ll never believe what happened.Kramer tried to get an interview
with the six-term New York Democrat and as a result had the cops called on
her.Kramer walked in to Weiner’s office, announced herself as being from CBS 2
in New York City and said she’d like to see the congressman. Those few words
created quite the stir. Doors slammed and people pretended she wasn’t there
...’ Weiner’s
efforts don’t cool furor The
congressman said that he didn’t send a lewd photo on Twitter but also that he
couldn’t “say with certitude” whether the image was of his own crotch.
(Washington Post) [ ‘Weiner’s weiner’!
‘Not cool furor’ … how ‘bout just plain ‘not cool’. Eh … what can you expect
from national drain / sinkhole new york (new york / new jersey metro). I
haven’t read but probably agree with the following article: Listen
up, fellas: Naked man-parts? Not so sexy. (Washington Post) / … Even Mr.
Milbank weighs in: ‘The
Weiner roast Congressman finds
himself in a fight he does not relish.’ Report:
SEC lawyer exposed FBI informant (Washington Post) [ Clearly, the sec liar
(sic – lawyer) is one of those typically with a ‘pre or post’ arrangement,
whether implicit or explicit; you know, that ubiquitous ‘bribe thing’ in
pervasively corrupt, defacto bankrupt, fallen
america. Indeed, the scenario typifies that national drain / sinkhole
new york (new york / new jersey metro) where, for example, FBI informants were
routinely exposed by ‘italians’ in the new york d.a.’s office over the
objection of the FBI, and were promptly ‘dispatched’/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
‘Goombata: The Improbable Rise and Fall of John Gotti and His Gang’ John
Cummings
(Author), Ernest
Volkman (Author) Though having but 5% of the world’s population, the u.s.
has 76% of the world’s serial killers,
http://www.albertpeia.com/realifeamericaserialkillers.mpg bankrupt
america also spends more on military than all the nations of the world
combined... fed employees / contractors, cia, all 3 branches of u.s. gov’t,
etc., are included in this evolved american trait of inherent criminality http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]:
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
In short, Albert sees
that the structural bear market in equities has not yet reached bottom. “We
have long said that the de-bubbling process would end only when equities become
very cheap and revulsion in equities as an asset class hangs in the air like a
fog,” commented the famed strategist.
“Equity investors are in
for a rude shock. The global economy is sliding back into recession and they
are still not even aware that these events will trigger another leg down in
valuations, the third major bear market since the equity valuation bubble
burst. We will return to the valuation nadir last seen in 1982, with the
S&P bottoming around 450.”
Albert is never short of
drawing analogies: Investors’ continued optimism “as the equity bloodbath of
the last decade enters its final, even bloodier phase” reminded him of the
Black Knight in Monty Python & the Holy Grail. “Despite being
grievously wounded by King Arthur, the Black Knight makes light of his injuries
which he dismisses as a flesh wound. The vast bulk of the investment industry
fails to appreciate that we are locked in a structural bear market and about to
enter Act III,” he concluded.’
Since 1982 the index of
jobs going to the foreign affiliates of U.S. companies has risen some 80%
from a low of 100 in 1982 to 180 currently. By comparison, the index of jobs at
the U.S. affiliates of U.S. companies rose from 100 in 1982 to a peak of 130 in
2000–before the tech bubble and the housing bubble– and in the last
decade has fallen back to 110. This means the number of jobs created by US
companies inside the nation has risen by only 10% over 30 years.
By another comparison,
the jobs created by new small business in the U.S. has increased by 20
million over the 1980-2005 period. We will try to determine if this rate
of job creation is continuing. Obviously, something must be done to reduce the
unemployment rate of 9.1%– as well as the underemployed rate of 15-20%.
Kauffman’s Dane
Stangler, director of research, believes many of these new jobs were
created by employees, who lost their positions at a large company, and t
hen went into business for themselves. This probably won’t be sufficient to
dent the unemployment rate today.
Public policy measures
like the Fed’s quantitative easing and the Obama administration’s Recovery Act
just did not pack sufficient wallop to get the job done. “To bring the
unemployment rate down, GDP growth needs to be more rapid,” Christina Romer,
former chairman of Obama’s economic advisors, said recently in a speech. “We
need to be adding not 100,000 to 200,000 jobs a month, but more like 400,000 or
even 500,000 per month.”
QE2, Romer
insisted,”came a year too late,” and the Recovery Act “wasn’t big enough.” ‘
Beige
Book: Fed's Snapshot Shows Scuffling Economyat Forbes Steve Schaefer ‘A day after sweeping
remarks from Ben Bernanke
that touched on everything from the economic
soft patch to commodity inflation to bank
regulation, the Federal Reserve released its the Beige
Book for its June 21-22 meeting. The snapshot of economic conditions from
the central bank’s 12 districts supported the chairman’s view of a continuing,
though decelerating, recovery.
Dallas was a bright spot,
the lone district to indicate growth is speeding up, while New York,
Philadelphia, Atlanta, and Chicago all noted slowing growth. Consumer spending
turned mixed since the last Beige Book released April 13, which comes as little
surprise as households continued to feel the pinch of higher prices at the pump
even as crude oil eased back below the $100 threshold ...
The report noted some
challenges in auto sales attributed to supply disruptions from March’s natural
disaster in Japan. Automakers like GM, Ford and Toyota have acknowledged the
impact of such disruptions, but the effect is likely temporary.
There was nothing to
write home about in the housing portion of the report, as Fed districts
reported “widespread weakness” in residential construction and real estate,
though rental housing conditions have strengthened and let to a pickup in
development. Loan demand was steady to stronger, the Fed says, amid broad
improvement in credit quality, which should come as little surprise given the
massive post-crisis deleveraging undertaken by households and businesses that
continues apace.
Other segments of the
Beige Book offered further confirmation of trends that are well-established.
Manufacturing growth continues, but at a slower pace, the labor market is lackluster
at best and companies are facing challenges in passing along higher input
prices – like oil, agricultural commodities and industrial metals – to
customers.
The release of the Beige
Book comes with U.S. stocks trying, and failing to break a losing streak.
Ninety minutes to the close the major indexes were near session lows with the
Dow Jones industrial average off 12 points at 12,059, the S&p 500 4 points
at 1,281 and the Nasdaq 23 points at 2,679.
Earlier Wednesday,
concerns of slower growth continued to surface in the government bond market as
an auction of $21 billion in 10-year Treasury notes drew a yield of 2.97% amid
strong demand. The rate was the lowest since November.’
Oil's
Path Is Only Up From Here: Analyst at
Forbes Heather Struck ‘After OPEC’s production talks in Vienna
broke down Wednesday the door is likely open to continued high oil prices, and
strengthening demand is only helping to put further pressure on crude oil’s
record levels this year.
In May Saudi Arabia
boosted its output by 450,000 barrels a day to 9 million barrels of oil
in order to meet supply levels. In the U.S. demand has been growing robustly,
at 19.2 million barrel per day.
Energy stocks are seeing
gains for two Dow components – Exxon Mobile and Chevron – which were up 2% and 1% respectively Wednesday.
While gasoline and
energy push up demand at a robust pace, supply is facing headwinds. Libya has
ceased production while its nation undergoes a forceful change of leadership,
and Russia’s production is spotty.
“Production is going to
be erratic for the rest of the year” says Amrita Sen, an energy analyst for
Barclays Capital. There will pockets of weakness in the Middle East and China,
and there will be pockets of strength in the U.S., Canada and Brazil.
If oil prices were going
to be stabilized through production levels, it would have been at the OPEC
meeting today, where Middle Eastern nations such as Iran and Saudi Arabia
argued over politics. After the talks failed, “everything is [up to] Saudi
Arabian policy,” according to Sen.
In a May 26 note, Sen
said the OPEC meeting would be a test for oil prices for the remainder of the
year
The trigger for the next
move higher, in our view, could be the upcoming OPEC meeting on June 8, where
the lack of a proactive approach to mitigating the shortfalls in the market
could serve to significantly tighten balances.
Investors seemed to take
that possibility into account Wednesday, as West Texas intermediate crude moved
up 1.8% to $100.85 a barrel, while Brent crude eased slightly from the day’s
high, landing at $117.85.’
Top
3 Reasons Markets were Down While OPEC Pushed Oil UpWall St. Cheat Sheet
June 8, 2011, 5:13 pm EDT
Markets closed down on
Wall Street: DJI -0.18% SP500 -0.42% Nasdaq -0.97% Gold - 0.41% Oil 2.05% .
On the commodities
front, Oil (NYSE:USO) rocketed up past $100 a barrel after OPEC decided
not to increase a cap on oil production, while precious metals were down
with Gold (NYSE:GLD) ending regular trading down 0.41% and
Silver (NYSE:SLV) down 0.25% at close…
Today’s markets were
mixed because:
1) OPEC. Crude (NYSE:USO) had been down the last few days in anticipation
of OPEC increasing the cap on production. But this morning when they decided to
maintain production restrictions at current levels, it was the only big
financial news release, so oil futures skyrocketed while everything else
remained relatively still. See
Why It’s All About That Texas Tea.
2) Tech has been
unimpressive, at best. With no really big news or cool new gadgets coming out
of Apple’s (NASDAQ:AAPL) Worldwide Developers Conference, Nokia (NYSE:NOK) continuing its downward spiral, the legality of
the AT&T’s (NYSE:T) buyout of T-Mobile still being debated, and a host
of unimpressive numbers from companies like Microsoft (NASDAQ:MSFT) and LinkedIn (NYSE:LNKD), the usually booming tech sector has been taking
a bit of a vacation this week.
3) The Beige Book. The
Federal Reserve released the Beige Book this afternoon, a snapshot of the
country’s economic condition. Unsurprisingly, we’re not doing that great.
Progress has slowed in just about every sector while many companies are facing
higher input costs, passing them on to consumers in the form of higher prices.
Nothing dampens the market like reminding people just how bad things are.’
Bernanke:
Economy slowing but faster growth ahead-
AP [ Well, there you go … the new maestro, ‘no-recession-helicopter-ben
b.s. bernanke’, has covered all his bases; yes, the economy’s slowing but as
well, faster growth ahead. Nothing to worry about now in this ‘non-zero sum
game’; after all, either / or he’s gotta’ be right … wrong! The
GOP’s deficit demands Sen. Jon Kyl
offers the most specific outline yet of Republicans’ conditions in the
debt-ceiling talks. (Washington Post) [Moody’s:
U.S. credit rating at risk Agency
warns of a possible credit rating downgrade if a debt-ceiling deal cannot be
reached. (Washington Post) [ I’d say, as is true of their performance in the
last phase of this ongoing crisis, they are so typically late to the party.
After all, pervasively corrupt america is already defacto bankrupt. House
rejects debt ceiling increase The
317-to-98 vote was a bipartisan rejection of extending the nation’s current
debt limit of $14.3 trillion unless major spending reductions accompany the
legislation. (Washington Post) [ Well, perish the thought that increases in
liabilities should be commensurate with decreases in liabilities to maintain a
… balance … sheet? At this point, who’s counting? After all, are there really degrees
of defacto bankruptcy? Or, an either / or absolute state; viz., you are or
you’re not defacto bankrupt. Pervasively corrupt, defacto bankrupt america is
in fact defacto bankrupt! … Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times. The risk of a debt default over the combustible issue of the
Medicare deficit hangs over the course of the stock market. Buyers Beware!“I
was up in Wall Street this week,” Brooks said. “They’re vastly
underestimating the source of piolitical risk here. We could have a major
problem, I think, either this summer or the next couple years. And I’d be
worried about investing too much in the market. That’s my financial
advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Davis ‘This is how
we pay off our current debts and I think bondholders are simply happy to get
anything out of a country that admits it owes $15Tn (1/4 of global GDP) but
probably owes closer to $60Tn (entire global GDP) in the form of unfunded
liabilities. The funniest thing about this (and you have to laugh) is to see
Conservative pundits get on TV and talk about how we need to cut $100Bn worth
of discretionary spending to "fix" this (while continuing to spend
$1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is
no fixing this and even a Republican said you can’t fool all of the people all
of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away! ‘ … Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.]
Obama’s
Failure to Fill Economic Posts Is an Unforced Error - Daniel Gross, Y! Finance The ultimate
failure to fill key posts in important agencies is its own goal, an unforced
error, a self-inflicted wound.
Fine
Print of Goldman's Subprime Bet-
Andrew Ross Sorkin, NYT
Timothy
Geithner, the persuader Many wondered if Geithner would last. Now he’s a
central figure in Obama administration. (Washington Post) [ The persuader?
Yeah, anything but what tiny tim’s supposed to be … because … nothing succeeds
like failure in pervasively corrupt, defacto bankrupt america. After all,
central figure in wobama’s administration doesn’t say much … Obama's rating on economy hits new low: poll (Reuters) Obama: No fears of double-dip recession (AP) [He’s so ‘brave’,
he has no fear; and, after all, look at all his wars … yet, reality proves he’s
all b***s***, that ‘wobama the b’(for b***s***). Daily
economic briefings disappear from Obama’s White House schedule (I personally believe wobama doesn’t
understand economics.) Madoff
employee pleads guilty Documents charged Eric Lipkin, a former employee,
with helping Madoff perpetrate his epic Ponzi scheme. (Washington Post) [ ‘Tiny
taters’! Yet, there are loads of such fraudulent interrelationships on
fraudulent wall street, part and parcel of the last and ongoing ubiquitous
fraud; albeit too big to fail or jail despite intimations to the contrary. Goldman
Sachs subpoenaed Report says firm’s mortgage-related investments enabled
the company to profit while clients lost money. (Washington Post) [ Their stock
was down. Why? No mystery there on fraudulent wall street that they’ve got
plenty to hide; and, certainly far more beyond the scope of the subpoena. The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed… an especially great opportunity to sell /
take profits while you still can since there's much worse to come! America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog/ Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on
the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on
wall street ( and declares with oscar in hand that not one high level wall
street exec has been prosecuted … despite ‘earning’ billiions from the fraud ). UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Bernanke:
Setbacks are temporary Fed chairman
suggests economy will accelerate as year progresses despite recent signs of
weakness. Poll:
Obama hits new lows on economy (Washington Post) [ Oh really? Like the
‘no-recession’, helicopter ben? One thing is certain and not temporary; viz.,
the gains for the frauds on wall street at great expense to all from the failed
policies as noted by analyst Andy Bove: ‘Bove also took a hard shot at the
Fed’s Quantitative Easing program calling it “a miserable failure.” ‘
Housing
prices fall 'beats Great Depression slide'... Meredith Whitney Adds 10 New States To Her Sh*t List Bess
Levin Bove:
Fed Is Clueless On Bank Regulations at
Forbes Halah
Touryalai [ ‘..QE2 was a boondoggle for
investors in financial instruments but had no impact on the economy ‘ . Yeah!
Boondoggle, fraud, ongoing fraud / coverup in the trillions (The Real “Margin” Threat: $600
Trillion In OTC Derivatives, A Multi-Trillion Variation Margin Call, And A
Collateral Scramble That Could Send US Treasurys To All Time Records… ) …
I’d say that’s putting it mildly. ] ‘A
speech on Friday by Federal Reserve Governor Daniel Tarullo has bank analyst
Dick Bove up in arms…
From the note:
The suggestions being
made indicate that the Fed has no understanding:
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away!
Bernanke:
Economy slowing but faster growth ahead-
AP [ Well, there you go … the new maestro, ‘no-recession-helicopter-ben
b.s. bernanke’, has covered all his bases; yes, the economy’s slowing but as
well, faster growth ahead. Nothing to worry about now in this ‘non-zero sum
game’; after all, either / or he’s gotta’ be right … wrong! Wanted:
Economic policymakers There is a void atop much of the financial arms, with
about a dozen senior positions vacant. (Washington Post) [ How about just
stating as appropriate, there’s a huge void, period. These people, from
‘no-recession-helicopter-ben b.s. bernanke’, to ‘tiny tim geithner’, to ‘wobama
the b (for b***s***)’, to congress, to high,mid,lower level federal employees,
to u.s. executives, etc., haven’t the slightest idea what they’re doing, or
what to do. But, they do know how to throw a great fraud on wall street! Drudgereport: TEMPLETON
chairman: Financial Crisis 'Around Corner'...
'WE
ARE ON THE VERGE OF A GREAT, GREAT DEPRESSION...'
ECONOMIC 'HORROR' AS DATA PLUNGES
Dow
Has Longest Weekly Slump Since '04...
Housing
prices fall 'beats Great Depression slide'... Meredith Whitney Adds 10 New States To Her Sh*t List Bess
Levin Bove:
Fed Is Clueless On Bank Regulations at
Forbes Halah
Touryalai [ ‘..QE2 was a boondoggle for
investors in financial instruments but had no impact on the economy ‘ . Yeah!
Boondoggle, fraud, ongoing fraud / coverup in the trillions (The Real “Margin” Threat: $600
Trillion In OTC Derivatives, A Multi-Trillion Variation Margin Call, And A
Collateral Scramble That Could Send US Treasurys To All Time Records… ) …
I’d say that’s putting it mildly. ] ‘A
speech on Friday by Federal Reserve Governor Daniel Tarullo has bank analyst
Dick Bove up in arms…
From the note:
The suggestions being
made indicate that the Fed has no understanding:
Obama
Presses Europe, Pledges Help for Greek Crisis CNBC
| Obama offers bailout money for Greece.
[ Why doesn’t he just send them a u.s. dollar printing press; you know,
one of the old ones since only $100 presses are used in the u.s. now. Such
largesse, as the bankrupt lead the bankrupt.]
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
In a 12-page note
yesterday, the Rochdale Securities analyst said Tarullo’s suggestion on Friday
that systemically important financial institutions (SIFI) should increase their
capital ratios by 20% to 100% above current levels is “a perfect example of
what is wrong” with the Fed’s approach to the banking system.
From the note:
The suggestions being
made indicate that the Fed has no understanding:
When the Fed should have
been tightening restrictions on the banks over the past decade, it loosened
them. Now that the economy is either in a pause or slowing down and the Fed
should be easing restrictions on the banks, it is tightening them. As a
consequence, there is now $1.5 trillion dollars sitting in the Fed earning
virtually nothing while unemployment rises and the economy falters.
It is simply
incomprehensible that this nation can be so poorly served by those people who
should be expected to know what they are doing. Mr. Tarullo’s remarks are so
totally absurd that it is difficult to assume that they will ever be heeded.
Raising banks’ capital
ratios will have a horrific impact on the economy and one similar to 1937 when
the Fed increased reserve ratios twice sending the U.S. back into Depression,
Bove argues.
Tarullo said in his
speech that he wants the new capital to come from common equity which means
banks would likely have to raise the money by issuing new common shares. Bove
thinks that’s absurd because banks have already upped their tangible common
equity (TCE) as a result of post-financial crisis regulatory pressure.TCE is at
8.56% of assets, the highest in 76 years, he says.
Based on the actual
data, going back 76 years, the actions of the banks in the past three years
have created one of the safest and soundest banking systems in American
history. The Federal Reserve:
The banking industry’s
focus on restructuring of their balance sheets and raising capital has resulted
in a lack of loans for the rest of the economy noting that loans in the banking
system fell by $803 billion or 10.2% from Q3, 2008 to Q1, 2011. “What is clear
is that the banking industry simply stepped out of the economy. It was not
providing funds to meet economic needs. It could not do so given the
requirements that were layered upon it. This also happened in the 1930s and
1940s when bank loans fell to 15.9% of bank assets and government securities
rose to an estimated 61.0%.”
Nontheless, in the worst
case scenario under Tarullo’s suggestion some 20 U.S. banks with more than $50
billion in assets would have to have tangible common equity ratios of 14% of
assets. To get to this level, which would be $1.386 trillion in dollar terms,
they’d have have to raise $755.7 billion, Bove argues.
“This would require
selling 35.3 billion new shares of stock. The dilution would be 106.5%. Some
companies, like Regions Financial (RF/$6.36/Sell) would be thrown out of
business,” he notes.
Bove also took a hard
shot at the Fed’s Quantitative Easing program calling it “a miserable failure.”
More from Bove’s Fed-bashing note:
The Federal Reserve is
buying $600 billion in Treasury Securities under the program’s mandate.
In six months from the
end of October last year to the end of May this year, reserves at the Federal
Reserve have jumped by $568 billion and there is still one month to go in QE2.
Net free reserves in the system rose by $532 billion.
These numbers indicate
that the banking system never put the QE2 money to work in the economy. They
simply redeposited it back in the Federal Reserve itself. However, the new
money did have one clear impact. It drove up asset values:
But no need to worry
because Tarullo’s suggestion is so “absurd” that it’s unlikely to even happen,
Bove says.
Well, he actually put it
more harshly:
No other country in the
world, except perhaps Switzerland, is likely to lose all sense of reality as
Mr. Tarullo has. The United States will not get unanimity for this decision
anywhere but in the academic halls of the U.S. Federal Reserve.
I unfortunately believe
these people may have lost their minds just as the U.S. Congress did when it
passed the Dodd/Frank Act. However, the proposal may be taken seriously by
investors. If so it spells danger for bank stocks. This is because it is likely
that some form of this inane proposal may actually be put in place.’ ‘ ]
Top 3 Reasons Markets Crashed After Bernanke Spoke Wall St. Cheat Sheet June 7, 2011 ‘Markets closed down on Wall Street: DJI -0.16%
SP500 -0.1% Nasdaq -0.04% Gold - 0.19% Oil 0.74% .
On the commodities
front, Oil (NYSE:USO) put on another dollar to close at $98.74, while
precious metals were mixed with Gold (NYSE:GLD) was down slightly to $1,546 and Silver (NYSE:SLV) up 1.15%.
Today’s markets were
down because:
1) Bernanke admitted the
economy was slowing. Well, he admitted it then said he thinks growth will be
back soon. Don’t worry, soon. Although lustful traders were hoping for some
huge QE3 announcement, Bernanke
still gave us more QE 2.5 where the Fed will continue buying securities and
accommodating the financial markets as needed. Can someone say, ZIRP?
2) E3 took the baton
from Apple. Yesterday Apple held the tech spotlight, but today the exciting
video game sector was front and center. Microsoft (NASDAQ:MSFT), Sony (NYSE:SNE), Nintendo and all the big game makers started
pulling back the curtain on what gamers will die for during the holiday season
(Check Out: E3
Wrap Up. And the Winners are …). That’s 180 degrees away from former tech
darling Research in Motion (NASDAQ:RIMM) which
keeps crashing and burning.
3) Another Economic
Advisor gone. Austan Goolsbee will be leaving his position as chairman of the White
House’s Council of Economic Advisers. Wall St. Cheat Sheet Assistant Editor
Emily Knapp explores the deeper question, “Why
is Obama’s Economic Team Bailing Out?” …’
The
US Debt Limit is Out of Control – Exclusive with Liz Claman Wall St. Cheat Sheet ‘The US is
drowning in red ink … and it keeps getting worse. I caught up with Fox Business
anchor Liz Claman to get a Cheat Sheet for crazy
government spending:
Damien Hoffmna: Liz,
politicians seem to be treating the debt limit like a joke — we’ve been raising
it for decades. How can we get drunken sailors to limit the bottles at the bar?
Liz Claman: I wouldn’t
say anyone in Washington is treating it like a joke. They’re truly nervous
about it because they don’t know what will happen if we don’t raise the debt
ceiling. What I would say is that neither side is getting serious at ALL about
cutting spending. The Republicans said, “We’ll raise it but only if you marry
that with spending cuts.” They started out strong.
Rep. Paul Ryan came up
with a good starting point but Democrats pounced on it saying it would cut too
much from Medicare/Medicaid. His Republican brethren were fine with it until
they heard from their constituents who flipped out, yelling, “Why should our
Medicare get cut? Tax the wealthy.” In the end, everyone wants to get reelected
instead of doing the right — and obviously painful — thing. Cut Medicare and
Medicaid…’ [ How ‘bout the obvious, unpainful thing; viz., prosecute the big
frauds on wall street and get disgorgement in the hundreds of billions (though
the ongoing extant fraud is in the trillions. ]
How
the Second-Mortgage Crisis is Gaining MomentumWall St. Cheat Sheet
Down Goes Asia? at
Minyanville Lloyd Khaner Jun 07, 2011 ‘The threat of a meltdown in Asia is just one
of 19 worries facing investors this week. ‘LLOYD'S
WALL OF WORRY The debt crisis in Europe
is causing waves in Asia, where major clothing and electronics makers, and
others who rely on a strong Eurozone market, are seeing share prices drop or
wobble. At home, the US debt ceiling problem is quickly becoming "a
lose-lose situation," and other issues -- the housing crisis, unemployment
and the fast-approaching end of QE2 -- have investors "freaked." So
this week Lloyd's Wall of Worry remains high, at 19 blocks. New
fears -- the risk
of a catastrophic policy mistake, and the possibility of a meltdown in Asia --
have replaced last week's concerns about currencies and the IMF…:
QE II: My wife says what’s all the hub-bub about the QE II? “It’s a really
lovely ship. With bingo on the Lido deck and lots of well dressed people with
cool accents from all over the world.” God, I love that woman!
U.S. ECONOMY: Let’s not have everyone panic because we got one or two -- or
six -- weak economic reports. Though hopefully a few key people will
panic and “FIX IT!” (From the 2:18 mark.)
UNEMPLOYMENT: “The long and winding road, that leads, to your door…” from the
unemployment office.
Getting sad and tough and mean and nasty and real out there.
U.S. DEBT CEILING: No doubt about it, we are rapidly building another
“lose-lose” situation here. We don’t raise it, we lose credibility. We do raise
it, we lose credibility.
INVESTOR SENTIMENT: The professional traders are so freaked that they’re
wearing straight jackets to work. Amateur traders would do the same but they
lost theirs trading
against the pros.
HOUSING CRISIS: I’d say let’s just hit the fast forward button to the end of
this mess, but I’m afraid that at my age I would look ridiculous in the Mad
Max-wear we’re all destined to be donning.
INFLATION: India, strong in many ways but not known to be #1 in any one
economic sector until now. It has just landed that coveted top spot as the
Asian economy with the highest inflation, fueled by an estimated average salary
increase of 13% in 2011.
STOCK MARKET TECHNICALS: Went to one of those Spiritual Readers and Advisors to
get the answer to this technical mayhem. I was next in to meet with “Wilomena
of Wall Street” when my appointment got canceled. She picked up 1,000 LinkedIn
IPO shares
and flipped them, thus declaring huge profits and retirement. The market
mystery continues.
FLOODS, TORNADOES, VOLCANOES: Massachusetts takes a massive tornado in the
chops!?! This ain’t just weird. It’s wicked pissah weird!
OIL PRICES: Frack This! Frack That! Frack Me! Frack You! Pardon my language but
I’ll say anything to get the fracking price of oil down.
ARAB SPRING: Don’t look now but spring is about to turn to summer. Summer can
be warm, sunny and bright or hot and blazing with fight. As the Zen Master
says, “We’ll see.”
LIBYA: Congressional
patience running short, our involvement running long. Bad combo.
JAPAN: It may be an island physically but with the third largest economy in the
world, it isn’t an island economically.
CHINA: Four interest rate hikes plus eight reserve increases equals twelve taps
on the economic brakes. Let’s hope lucky No. 13 doesn’t slip into a stomp
that gives all of us whiplash.
ASIAN ECONOMIES: Channeling the voice of the legendary sportscaster Howard
Cosell, “Down goes Asia! Down goes Asia! Down goes Asia!”
MARGIN DEBT: It’s high, too high. And it’s in weak hands, too weak.
SOVEREIGN DEBT: Playing our like a Greek tragedy, with real Greeks, real
tragedy and every economic player in the world as the chorus. I hereby dub
thee, “The Defaultedes!”
COMMODITIES: You know the market is rough when even the most manipulated financial
assets in the world can’t be artificially spiked skywards.
POLICY MISTAKE: Like walking a tight rope carrying a tray of pyramid-stacked
champagne glasses during hurricane season without net. The world’s major
economic powers cannot afford even a slight slip-up. I can’t watch…’
China May Dump Dollar USA Today & CNBC | The dollar fell to a one-month low against a basket of currencies on Tuesday .
Gold
firms as dollar slides to one-month low Reuters | Gold firmed on Tuesday as the dollar slid to a
one-month low
GM chief
pushing for higher gas taxes Detroit
News | Dan Akerson wants the federal gas tax boosted as much as
$1 a gallon,
Daily
economic briefings disappear from Obama’s White House schedule At some
point during the first two years of his administration, President Obama stopped
receiving the daily economic briefing that he requested when he took office.
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Selling
In May Is Very Good Advice This Year Harding / Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
Defacto bankrupt,
fraudulent america also spends more on military spending than all the nations
of the world combined... federal employees / contractors, cia, all 3 branches
of the u.s. government, etc., are included in this evolved american trait of inherent
criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ).
National / World
Obama's rating on economy hits new low: poll (Reuters)
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
In a 12-page note
yesterday, the Rochdale Securities analyst said Tarullo’s suggestion on Friday
that systemically important financial institutions (SIFI) should increase their
capital ratios by 20% to 100% above current levels is “a perfect example of
what is wrong” with the Fed’s approach to the banking system.
From the note:
The suggestions being
made indicate that the Fed has no understanding:
·
Of what
caused the financial collapse
·
The current
structure of the banking industry’s balance sheet
·
How banks
interact with the economy
·
Why QE2 was a
boondoggle for investors in financial instruments but had no impact on the
economy
When the Fed should have
been tightening restrictions on the banks over the past decade, it loosened
them. Now that the economy is either in a pause or slowing down and the Fed
should be easing restrictions on the banks, it is tightening them. As a
consequence, there is now $1.5 trillion dollars sitting in the Fed earning
virtually nothing while unemployment rises and the economy falters.
It is simply
incomprehensible that this nation can be so poorly served by those people who
should be expected to know what they are doing. Mr. Tarullo’s remarks are so
totally absurd that it is difficult to assume that they will ever be heeded.
Raising banks’ capital
ratios will have a horrific impact on the economy and one similar to 1937 when
the Fed increased reserve ratios twice sending the U.S. back into Depression,
Bove argues.
Tarullo said in his
speech that he wants the new capital to come from common equity which means
banks would likely have to raise the money by issuing new common shares. Bove
thinks that’s absurd because banks have already upped their tangible common
equity (TCE) as a result of post-financial crisis regulatory pressure.TCE is at
8.56% of assets, the highest in 76 years, he says.
Based on the actual
data, going back 76 years, the actions of the banks in the past three years
have created one of the safest and soundest banking systems in American
history. The Federal Reserve:
·
Does not
believe this
·
It has simply
not looked at the historical numbers, or
·
It sees a
financial disaster brewing that has yet to be revealed.
The banking industry’s
focus on restructuring of their balance sheets and raising capital has resulted
in a lack of loans for the rest of the economy noting that loans in the banking
system fell by $803 billion or 10.2% from Q3, 2008 to Q1, 2011. “What is clear
is that the banking industry simply stepped out of the economy. It was not
providing funds to meet economic needs. It could not do so given the
requirements that were layered upon it. This also happened in the 1930s and
1940s when bank loans fell to 15.9% of bank assets and government securities
rose to an estimated 61.0%.”
Nontheless, in the worst
case scenario under Tarullo’s suggestion some 20 U.S. banks with more than $50
billion in assets would have to have tangible common equity ratios of 14% of
assets. To get to this level, which would be $1.386 trillion in dollar terms,
they’d have have to raise $755.7 billion, Bove argues.
“This would require
selling 35.3 billion new shares of stock. The dilution would be 106.5%. Some
companies, like Regions Financial (RF/$6.36/Sell) would be thrown out of
business,” he notes.
Bove also took a hard
shot at the Fed’s Quantitative Easing program calling it “a miserable failure.”
More from Bove’s Fed-bashing note:
The Federal Reserve is
buying $600 billion in Treasury Securities under the program’s mandate.
In six months from the
end of October last year to the end of May this year, reserves at the Federal
Reserve have jumped by $568 billion and there is still one month to go in QE2.
Net free reserves in the system rose by $532 billion.
These numbers indicate
that the banking system never put the QE2 money to work in the economy. They
simply redeposited it back in the Federal Reserve itself. However, the new
money did have one clear impact. It drove up asset values:
·
The S&P
500 has grown by 13.9% from the end of October to the present; the price of oil
is up 12.6%; and gold is up 13.2%.
·
The
annualized rate of inflation in the 4 months to October 2010 as measured by the
CPI was 1.4%; the annualized rate in the first four months of this year has
been 10.5% (the economy was growing in October of last year and it is slowing
now).
But no need to worry
because Tarullo’s suggestion is so “absurd” that it’s unlikely to even happen,
Bove says.
Well, he actually put it
more harshly:
No other country in the
world, except perhaps Switzerland, is likely to lose all sense of reality as
Mr. Tarullo has. The United States will not get unanimity for this decision
anywhere but in the academic halls of the U.S. Federal Reserve.
I unfortunately believe
these people may have lost their minds just as the U.S. Congress did when it
passed the Dodd/Frank Act. However, the proposal may be taken seriously by
investors. If so it spells danger for bank stocks. This is because it is likely
that some form of this inane proposal may actually be put in place.’
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Selling
In May Is Very Good Advice This Year Harding / Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
Defacto bankrupt,
fraudulent america also spends more on military spending than all the nations
of the world combined... federal employees / contractors, cia, all 3 branches
of the u.s. government, etc., are included in this evolved american trait of inherent
criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ).
Meredith Whitney Adds 10 New States To Her Sh*t List Bess Levin
‘ The Dollar Dominatrix has
issued a new state budget and debt report and Arizona, Nevada, Connecticut,
Wisconsin? Might want to run. (Also, re last year’s prediction on muni bond
defaults- she was just ball-parking, no one should’ve taken those numbers at
face value.)
Whitney tells Fortune
she never meant to make more than a general forecast. “I never intended on
framing the scale of defaults as a precise estimate, but I continue to believe
that degree of municipal defaults will be borne out over the cycle. I meant to
point out that the state debt problem is a massive headwind for the U.S.
economy, second in importance only to housing.”
[...]
Whitney’s latest report
is even more thorough than last year’s analysis that started the uproar. It
covers 25 of the largest states, adding ten new ones to the list, including
Arizona, Nevada, Connecticut, and Wisconsin. The problem starts with spending.
Since 2003, state governments have raised annual outlays from $1.5 trillion to
almost $2.2 trillion, or $700 billion, yet tax receipts have risen only $400
billion or $300 billion less, to $1.4 trillion. In fact, spending kept surging
all during the recession, while income from sales, income and corporate taxes
went totally flat in 2007.
M-Dubs doesn’t put
everyone on notice, however. Whereas Connecticut receives one whip of the
cat-o-nine-nails for every dollar over budget, Indiana, which gets a pat on the
head and a scratch behind the ears, is dubbed a “model citizen.”
Meredith
Whitney State Finances Are Worst Than Estimated [Fortune via Katie Benner] ‘
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
]
Will
the Fed do QE3? As soon as the disappointing jobs report crossed the wires,
the Wall Street chatter began to speculate. (Washington Post) [ Well, we all
know that nothing succeeds quite like failure in america; you know, that new
normal for pervasively corrupt, defacto bankrupt america. Yes, we all know that
QE has been a dismal and costly failure unless the measure of success is the
increased wealth of the frauds on wall street; after all, as with this still
extant financial crisis (toxic assets/paper/securities cashed out and still out
there in the trillions though now marked to anything as per legislated mandate
/ complicity / FASB rule change) , your dollars actually and ultimately
financed their ill-gotten gains which never seem to translate into the promised
job, economic gains and go on despite well-founded, prominent warnings that the
same will not succeed and have, as warned, exacerbated that which was meant to
be cured. JOBS REPORT MUCH WORSE THAN EXPECTED! Previous day: Economic
outlook hinges on jobs report Beware
the next big fraud When will we see
the next big fraud and a massive burst in the secondary markets bubble? Not
soon enough, I fear. (Washington Post) [ Next? How ‘bout we’re still in the
midst of that continuing multi-trilliion dollar fraud marked to anything … The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), Billion
Dollar Fund Managers Agree: The Government Never Fixed the Underlying Economic
Problems, So We’ll Have Another Crash infowars.com While the snake oil salespeople
at the retail investing level and the bobble heads on the kool aid selling
financial channels have been saying for years that we’re in a “recovery”
(albeit a slow one), billion dollar fund managers say that nothing has changed
and we’ll have another crash …
Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on
the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on wall
street ( and declares with oscar in hand that not one high level wall street
exec has been prosecuted … despite ‘earning’ billions from the fraud ). Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away! ‘ … Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of their
stocks so they can buy new yachts and some of this is pre-planned. But that
ratio — which has spiked recently — is extraordinarily high, one might even say
off-the-chart.] ]
20
Questions To Ask Anyone Foolish Enough To Believe The Economic Crisis Is Over
The
Economic Collapse | We are
still in the middle of a full-blown economic crisis and things are about to get
even worse.
Dollar,
Safe Haven No More? at The Wall
Street Journal Leivisohn ‘Is the dollar’s safe haven status a
thing of the past? [Yes!] It
was for at least one week, according to Nomura currency strategist Jens
Nordvig. In a report this morning, Mr. Nordvig noted that the recent strong
tendency of the dollar and the S&P 500 to move in opposite directions was
nowhere to be seen last week, even as the S&P 500 dropped for the fifth
consecutive week…’
Bank
to suggest CO2 levy on jet, shipping fuel Reuters | The World Bank will suggest a global levy on
jet and shipping fuel in recommendations to G20
Teen Unemployment 25
Percent CSM | It’s
never been easy being a teenager. Now, try being a teenager looking for work.
{ In
robert gates’ cia-alice-in-wonderland world, a failed defacto bankrupt american
banana republic with gunboat diplomacy will do just fine (thank you very much
for your wasted tax dollars). }
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Minyanville's
T3 Daily Recap: Stocks and Economic Data Leave Nowhere to Hide at Minyanville By T3Live.com Jun
03, 2011 ‘This week markets were presented with economic data ranging from ADP
payroll, jobless claims, car sales, and crude inventory numbers, all pointing
to a waning economic recovery.
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Selling
In May Is Very Good Advice This Year Harding / Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
Defacto bankrupt,
fraudulent america also spends more on military spending than all the nations
of the world combined... federal employees / contractors, cia, all 3 branches
of the u.s. government, etc., are included in this evolved american trait of
inherent criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ).
By Shanthi Bharatwa [chart
http://www.thestreet.com/content/image/88693.include ]
‘NEW YORK (TheStreet)
-- The U.S. economy added far fewer jobs in May, suggesting that the recovery
in the employment market might be stalling.
According to the Bureau
of Labor Statistics, nonfarm payrolls increased by 54,000 on a seasonally
adjusted basis in May, after rising by an average of 220,000 in the prior three
months. Economists were expecting the payrolls to rise by 169,000, according to
Briefing.com. That is the lowest payroll growth since September 2010.
The private sector,
which has been the main contributor of jobs amid layoffs at the state and local
government levels, added 83,000 jobs, a marked slowdown from the 244,000 jobs
averaged in the last three months. Economists predicted companies would add
180,000 jobs in May, their expectations diminished by the
ADP report Wednesday which said companies added only 38,000 jobs.
The consensus estimates
don't always reflect actual market expectations because analysts don't always
revise their estimates based on the ADP report. The "whisper" number
for the markets may have been closer to about 100,000. So even by those
metrics, the jobs report is severely disappointing.
Reacting to the dismal
report, Patrick O'Keefe, director of economic research at J.H. Cohn, said,
"This report stands out as a recommendation to all economists to go
through a course in humility. I expected, even after the ADP report, a much
better report than this. But as Keynes said -'when the facts change, I change
my mind.'"
According to the Labor
Department's survey, the auto, retail, nondurable goods and health care sectors
shed jobs in May. The government laid off another 29,000 workers in May, after
shedding 19,000 in April and 25,000 in March.
But more striking than
layoffs was the slowdown in hiring. After adding 38,000 jobs in April, the
goods-producing sector created only 3,000 jobs in May. Manufacturing shed 5,000
jobs in May, after hiring 24,000 people in the previous month.
The private
services-providing sector, the biggest contributor to employment, added only
80,000 jobs, after creating 213,000 in April. In April, the ISM Services Index
showed a dramatic slowdown to 52.8% from 57.3% in March. The Institute for
Supply Management said at 10:00 a.m Friday that the Nonmanufacturing Index rose
to 54.6% from 52.8% in April, better than the 53.3% economists were expecting.
Temporary help, which
has contributed one in six 6 jobs during the recovery, also saw a drop of 1,200
jobs.
"The flattening in
temporary help, given the marginal headline employment gain signals that
employers have become even more reluctant to increase payrolls in the face of
sputtering expansion," O'Keefe noted.’
JOBS REPORT MUCH WORSE THAN EXPECTED! Previous day: Economic
outlook hinges on jobs report One of the few bright spots in the economic
picture in the past three months has been solid and steady job creation by the
private sector. (Washington Post) [ And, you can bet the ranch that the report
will be a complete fabrication. Indeed, the capital reeks of political
desperation, domestically and globally. Fudgecake yes … they can always put the
‘report’ back in the oven so to speak for those ever more recurring revisions
which still never quite bring the data back to reality. Beware
the next big fraud When will we see
the next big fraud and a massive burst in the secondary markets bubble? Not
soon enough, I fear. (Washington Post) [ Next? How ‘bout we’re still in the
midst of that continuing multi-trilliion dollar fraud marked to anything … The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), Billion
Dollar Fund Managers Agree: The Government Never Fixed the Underlying Economic
Problems, So We’ll Have Another Crash infowars.com While the snake oil salespeople
at the retail investing level and the bobble heads on the kool aid selling
financial channels have been saying for years that we’re in a “recovery”
(albeit a slow one), billion dollar fund managers say that nothing has changed
and we’ll have another crash …
Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on
the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on
wall street ( and declares with oscar in hand that not one high level wall
street exec has been prosecuted … despite ‘earning’ billions from the fraud ). Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away! ‘ … Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.] ]
20
Questions To Ask Anyone Foolish Enough To Believe The Economic Crisis Is Over
The Economic Collapse |
We are still in the middle of a full-blown economic crisis and things are about
to get even worse.
Don't tell that to Las
Vegas, which is still trying to pick up the pieces after the housing bubble's
pop shattered its real estate industry. Average home prices dropped from
$220,000 in 2008 to just $128,000 in the first quarter of this year. As a
result, a 3.21% foreclosure rate quoted for the area by RealtyTrac is still the
highest in the nation, and its 13.3% unemployment rate is outdone only by
Riverside-San Bernardino-Ontario, Calif.'s 13.9% margin (and 2.04% foreclosure
rate). The good news is that foreclosure rate is a 11.54% improvement from fall
of last year. The bad news is that it's only a 7.74% upgrade from the same
period last year, is still costing more homeowners their properties than
anywhere in America and is having a residual effect on business, with traffic
down at McCarran Airport and once-untouchable businesses
such as the Sahara casino closing, with owners cited the crisis as a reason.
California, Nevada,
Arizona and Florida are among the states dealing with double- or
near-double-digit unemployment, high foreclosure rates and home prices that
have plummeted more than 50% in some cases, but even metropolitan areas within
those states were spared the same pain. Another burst bubble could make some of
those places feel a lot less lucky. TheStreet took a look at five
regions that lean heavily on one industry and at just how much they stand to
lose should their bubble be the next to go: …’
A
New Idea For Bernanke: Leave The Economy Alone at
Forbes ‘Sy
Harding It was another week of shockingly negative economic reports, which
you might think has Wall Street economists worried that the economy is running
into something more than just a brief soft patch (their popular term of recent
weeks).
They mostly remain
convinced that the problem is only temporary, that the economic reports are
coming in worse than their forecasts only because they under-estimated the
effect the surge in energy and commodity prices would have on consumer
spending, and the effect the Japanese earthquake would have on auto and
technology production. And they say those effects are only temporary.
Let’s hope they’re
right, because the additional reports this week were awful.
They included that home
prices are still declining; that Pending Home Sales fell 11.6% in April to a
7-month low; that Consumer Confidence unexpectedly fell from 66 in April to
60.8 in May; that the ISM Mfg Index plunged to 56.6 in May from 67.6 in April;
that Factory Orders fell 1.2%; that auto sales fell more than forecasts.
The reports ended for
the week with Friday’s report that only 54,000 jobs were created in May versus
232,000 in April, and compared to the consensus forecast that 175,000 jobs
would be created. And the unemployment rate rose to 9.1% in May, from 9.0% in
April, versus forecasts that it would decline to 8.9%.
This week’s reports came
on top of four weeks of similarly dismal reports, including that the Conference
Board’s Leading Economic Indicators dropped into negative territory for the
first time in nine months, and that Durable Goods Orders experienced their
largest decline since last August. New home starts and permits for futures
starts plunged more than forecasts, and existing home sales unexpectedly
plunged, now down 12.9% year-to-date.
However, not only is
Wall Street not overly disturbed by the reports, but investors are not all that
concerned either.
In spite of five
straight weeks of decline, the Dow is only 4.7% below its peak at the end of
April, and it’s still up 5.4% for the year so far. And, what decline there has
been was on low volume, no signs of aggressive selling.
One theme I keep hearing
from bullish investors is that the Federal Reserve will not allow economic
growth to slow to any degree (beyond a brief soft patch), without stepping in
with another round of stimulus. Nor will it allow the stock market to decline
to any degree.
After all, they remind
me, Fed Chairman Bernanke virtually guaranteed that in the Fed’s statement
after its last FOMC meeting, in which it said, “The Committee will continue to
monitor the economic outlook and financial developments, and will employ its
policy tools as necessary to support the economic recovery.”
Meanwhile, as I wrote in
early April, the similarities to a year ago are spooky. Among the long list of
similarities I noted then, were that a year ago government stimulus programs
were also coming to end, the economy was already showing serious signs of
slowing, the stock market looked to be overbought, and investor sentiment was
unusually confident and bullish. The next event a year ago was that the market
topped out at the end of April into a correction, and that has now potentially
become another similarity of this year.
So will the rest of the
events of last year also repeat this year?
Last year, the economy
continued to weaken, and the stock market remained in a correction until
mid-July, during which the S&P 500 lost 16% of its value.
Then the Fed seemed to
panic and stepped in with a promise of another round of quantitative easing,
which was dubbed QE2. The economy picked up again, and the stock market halted
its decline, recovered its losses, and went on to the highs reached at the end
of April this year.
The big question is, if
the economy continues to slow this year, and the stock market continues to
decline, will the Fed push the magic button again?
Chairman Bernanke
received considerable criticism at home and globally for his QE2 decision last
fall. It also doesn’t seem to have worked all that well. The flood of
additional dollars into the financial system pumped up the stock market and
commodity prices, creating inflation, but its effect on the economy was
apparently only temporary.
This year, Congress
would probably object mightily to another round of stimulus, given its new
determination to cut government costs in efforts to tackle the record budget
deficits.
So, unless the economy
really nose-dives, I suspect the Fed will allow the market system to function
normally this time around, allowing economic growth to slow if that is its
inclination, and the stock market to adjust to that, without government
interference.
We shall see. So far the
similarities to events a year ago continue to click into place.’
Moody’s:
U.S. credit rating at risk Agency
warns of a possible credit rating downgrade if a debt-ceiling deal cannot be
reached. (Washington Post) [ I’d say, as is true of their performance in the
last phase of this ongoing crisis, they are so typically late to the party.
After all, pervasively corrupt america is already defacto bankrupt. House
rejects debt ceiling increase The
317-to-98 vote was a bipartisan rejection of extending the nation’s current
debt limit of $14.3 trillion unless major spending reductions accompany the
legislation. (Washington Post) [ Well, perish the thought that increases in
liabilities should be commensurate with decreases in liabilities to maintain a
… balance … sheet? At this point, who’s counting? After all, are there really
degrees of defacto bankruptcy? Or, an either / or absolute state; viz., you are
or you’re not defacto bankrupt. Pervasively corrupt, defacto bankrupt america
is in fact defacto bankrupt! … Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times. The risk of a debt default over the combustible issue of the
Medicare deficit hangs over the course of the stock market. Buyers Beware!“I
was up in Wall Street this week,” Brooks said. “They’re vastly
underestimating the source of piolitical risk here. We could have a major
problem, I think, either this summer or the next couple years. And I’d be
worried about investing too much in the market. That’s my financial
advice.”…’ Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Davis ‘This is how
we pay off our current debts and I think bondholders are simply happy to get
anything out of a country that admits it owes $15Tn (1/4 of global GDP) but
probably owes closer to $60Tn (entire global GDP) in the form of unfunded
liabilities. The funniest thing about this (and you have to laugh) is to see
Conservative pundits get on TV and talk about how we need to cut $100Bn worth
of discretionary spending to "fix" this (while continuing to spend
$1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is
no fixing this and even a Republican said you can’t fool all of the people all
of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away! ‘ … Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.]
Romney
says he can heal economy He kicks off
presidential bid by trumpeting his record as a turnaround specialist in
business. (Washington Post) [ Well, he’s certainly not going to do that by
toeing the israeli lobby line as did failed president wobama the b (for
b***s***), despite his recent rhetoric (meaningless coming from wobama the b)
seemingly, but not really in terms of action (he’s literally continued the
perma-war policies of war criminal and moron dumbya bush; ie., Afghanistan,
Libya, etc., Drudgereport: FLASHBACK:
Obama: U.S. Involvement Would Last 'Days, Not Weeks'... OBAMA
FIGHTS FOR HIS RIGHT TO BOMB LIBYA... Deadliest
day this year... WARS
RAGE ON... U.S.
Dead in Afghanistan Tops 1,500...
OBAMA
HITS GOLF COURSE FOR ROUND NO. 70... ON
THE GROUND IN LIBYA . This despite the defacto bankruptcy of the
nation. It is time to tell the mentally deficient at the pentagon along with
other war mongering neocons that the days of their easy money, fog of war
thefts (ie., 360
tons of $100 bills flown into Iraq and ‘disappeared’, etc. ) and nebulously fat budgets are over. Stated another
way, math, economics, and finance count. I’d say law should count but we all
know that’s not the case in meaningfully lawless america (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed). Obama
is committed to Israel (Washington Post) Rahm Emanuel He’s been invested
since his first days in office.{Yes! I do believe this is among the few
instances when emanuel is telling the truth; and, pervasively corrupt, defacto
bankrupt america has the red ink, red blood (of u.s. soldiers), and failed
geopolitical strategy to prove it.}
Robert
Gates: Kucinich move on Libya ‘dangerous’ Politico | Gates says move to end Libya attack would
undermine alliances and military operations.
House
Republicans Kill Kucinich’s Libya Withdrawal Bill FoxNews.com | Yanked from schedule
only after it became clear that it might succeed. { In robert gates’ cia-alice-in-wonderland
world, a failed defacto bankrupt american banana republic with gunboat
diplomacy will do just fine (thank you very much for your wasted tax dollars).
}
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Beware
the next big fraud When will we see
the next big fraud and a massive burst in the secondary markets bubble? Not
soon enough, I fear. (Washington Post) [ Next? How ‘bout we’re still in the
midst of that continuing multi-trilliion dollar fraud marked to anything … The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), Billion
Dollar Fund Managers Agree: The Government Never Fixed the Underlying Economic
Problems, So We’ll Have Another Crash infowars.com While the snake oil salespeople
at the retail investing level and the bobble heads on the kool aid selling
financial channels have been saying for years that we’re in a “recovery”
(albeit a slow one), billion dollar fund managers say that nothing has changed
and we’ll have another crash …
Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ ‘INSIDE JOB’ Ferguson wins Oscar for Documentary on
the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on
wall street ( and declares with oscar in hand that not one high level wall
street exec has been prosecuted … despite ‘earning’ billions from the fraud ). Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away! ‘ … Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.] ]
20
Questions To Ask Anyone Foolish Enough To Believe The Economic Crisis Is Over
The Economic Collapse |
We are still in the middle of a full-blown economic crisis and things are about
to get even worse.
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
D.C.
area no longer a leader in creating jobs (Washington Post) [ I’d say that
such is a distinction without a significant difference inasmuch as near all
‘new’ jobs above the ‘new’ normal are makeshift and predominantly politically
(not productively) motivated in origin. Do not fall for these ‘new renaissance’
sound bites / pep talks / spin sessions. Those deals, however misguided, are
done. Those real jobs are not coming back for the foreseeable future that
counts. The bell can not be ‘unrung’. Moreover, the ever less productive / make
shift service jobs (including governmental, federal, state, local) have hit the
wall in terms of budgetary constraints.
The
Market’s Wall of Worry [ http://blogs.forbes.com/robertlenzner/2011/05/29/the-markets-wall-of-worry ] Robert
Lenzner Street Talk ‘
* QE2 will be over in 30 days. That removes a $600 billion injection of money
in the financial system.
*The bottom line all
talks of cuts is less federal, state and local spending. Removes money from
income total for the nation.
*Meanwhile, cost of
healthcare, food, transportation continues to rise squeezing middle
class.
*The yield on 10 year
Treasuries is 3.11% and trending lower in anticipation soifter economy.
*Housing market could
continue weak for some years, not months, affecting millions of ordinary
Americans.
* Price of crude oil
makes gasoline expensive and brings demand destruction.
* Stocks rally now over
2 years old. Commodities have also run up bigtime.
* China trying to slow
its economic growth and having difficulty doing so.
*Europe facing costly
bailouts troubled nations and weaker financial institutions.
*Showdown over
Palestinian state could lead to another outbreak hostilities in the Middle
East.
*If US, Europe and China
slowing what are the prospects for global economy, corporate profits, market
valuations?
*Japan badly hurt by
earthquake and tsumami.
*Trade volumes decline
more sharply than output during downturns according to The Economist.
*But OECD predicts GDP
up 4.2% and trade volumes gain 8%.
The
Beginning of the End of QE2 and 18 Other Issues Making Investors NervousTue
May 31st, 2011Lloyd
Khaner Lloyd's Wall of Worry QE II..
U.S. ECONOMY: From hero to zero in one quick month. Hey, June, can you throw us
a bone here?
UNEMPLOYMENT: Job Creation Plan: Hire people to go out and count all the houses
that are for sale, are in foreclosure, are empty and are inhabited by non-human
animals. Not a perfect plan I admit, but give me cred for its original, unique,
and entirely hare-brained nature.
U.S. DEBT CEILING: The latest in a long list of political footballs. This time
each side is just punting the ball back and forth without any real effort to
score. For the first
time in head-to-head competitive history, both teams may find a way to lose.
INVESTOR SENTIMENT: Call
it a Dickens Market -- it was the best of times and now it’s nearly the worst
of times as extreme bullish sentiment becomes extremely bearish in just a week
or so.
HOUSING CRISIS: A recent government press release says it will take 9.2 months
to sell all the homes on the market right now. Of course, the specific
year/decade those 9.2 months will fall into the release didn’t specify.
INFLATION: India, strong in many ways but not known to be No. 1 in any one
economic sector -- until now. It has just landed the coveted top spot as the
Asian economy with the highest inflation, fueled by a estimated salary increase
of 13% in 2011. अचà¥à¤›à¤¾ दà¥: ख! That’s “good grief!” in Hindi.
STOCK MARKET TECHNICALS: Went to one of those Spiritual Readers and Advisors to
get the answer to this technical mayhem and was next in to meet with “Wilomena
of Wall Street” when my appointment got canceled. She picked up 1,000 LinkedIn (LNKD) IPO
shares and flipped them, thus declaring huge profits and retirement. The market
mystery continues…
FLOODS, TORNADOES, VOLCANOES: Well, we made it through The Rapture and we have
a good year and a half until Mayan 2012 hits, but in the meantime Mother Nature
is reminding us that she is and always has been the real deal.
OIL PRICES: Coming off the boil and therefore unlikely to do the damage of a
full-on “oil shock”. Kind of like setting the cattle prod on 7 rather than 10.
You get the full behavioral effect plus you live to share your experience with
the rest of the herd.
ARAB SPRING: Don’t look now but spring is about to turn into summer. Summer can
be warm, sunny and bright, or hot and blazing with fight. As the Zen Master
says, “We’ll see.”
LIBYA: More top officials leaving -- this time it's the chair of Libya's state
oil company. Could be a real sign of trouble for Mo-Mo, or maybe the oil chief
is taking a cue from America's CEOs and "spending more time with
family."
JAPAN: Back into recession, back on the ropes. "It's about
how hard you can get it and keep moving forward. How much you can take and keep
moving forward." For what it’s worth, my money’s on Japan moving
forward again.
CHINA: Starting to limit power usage at manufacturers as the hydro and coal
situation is a bit tight in the land of endless growth. Sounds a little scary
for the GDP, but put a “China Going Green” spin on it and no one will notice.
RING OF FIRE + SPAIN + TURKEY: This earthquake thing is spreading in strange
ways. Not the good spread like hot fudge over a sundae, more like that hiking
rash you get when going off trail in your shorts.
CURRENCIES: The state of Utah officially legalizes gold and silver as currency.
Likely just a ruse to get people to buy, store, and borrow against gold in the
state. And likely to work very well.
SOVEREIGN DEBT: Another June, another class of American college grads moves
their tassels and hit the streets. Hottest graduation gift trending now:
One-Year Credit Default Swaps on U.S. Debt. Inspiring to them, I’m sure.
COMMODITIES: Modern economic employment options are varied and I ain’t
complaining, but seeing the parabolic moves in all things that grow in the
ground, well, "Green Acres is the place for me."
INTERNATIONAL MONETARY FUND: The world’s banker or a moveable feast? Or as we
say here in the U.S. “Animal House, Animal House.”
Discouraging
news on the economy Stocks tumble
after data on manufacturing, jobs and home prices dash sunny expectations.
(Washington Post) [The key here is expectations based on what. I, and others
have been saying such expectations have been based upon total b***s***,
manipulations, if not outright fraud. Certainly the toxic assets now marked to
anything as per legislated professional criminal courtesy in the form of FASB
rule change will figure prominently in the next phase of this ongoing economic
/ financial crisis / debacle, the worst of which is yet to come, having been
exacerbated thereby. Moreover, it’s now clear that the fed’s machinations have
failed, benefited fraudulent wall street and insiders only, to everybody else’s
expense and detriment including a hyperinflationary environment some (including
El Erian of PIMCO) euphemistically refer to as stagflation. Dow
Down 280: Stocks Tumble as Bulls Throw in the Towel on Jobs The Daily Ticker (6/1/11) Top
3 Reasons Markets Got Drop Kicked After Horrible Jobs and Manufacturing Data
Wall St. Cheat Sheet U.S.
Markets and ETFs Stumble On Weak Economic Data ETF Trends / [ What a difference a day
makes: previous (May 31,2011) Globally, and in fraudulent america particularly,
the stock markets / bourses are a total joke as they try to window dress their
end of month figures based on b*** s*** alone. We’ve seen this before as it
played out in the prior phase of this ongoing financial crisis. Shiller Home
Price Index comes in at 100% worse than expectations … and don’t forget, that
includes the dollar debasing realities which makes this report even more dire.
Take this ‘me too’ pop on fraudulent wall street as an especially great
opportunity to sell, take profits since there is much, much worse to come.
Remember: ‘sell in May and go away’ … so … don’t be a lune, loon, sell in
June! Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away! ‘ … Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.]
A Close Look Under the Hood - Was
QE2 a Giant Waste of Money? , June 2, 2011
‘Some things are obvious, some things are not. It's obvious that QE2 lifted
stocks while leaving the real estate market (NYSEArca: IYR
- News)
to fend for itself.
This
article will take a deeper look under the hood and show what QE2 could and
couldn't do. More importantly, it will highlight how QE (or the lack thereof)
should affect your investment decisions.
QE2
and GDP
Even
though Gross Domestic Product (GDP) is an absolutely outdated and misleading
measure of a country's economic health (more about that in a moment), we'll
take a look at how QE2 affected GDP.
GDP for Q4
2010 increased 3.1%. GDP for Q1 2011 was expected to come in at 2.1% but was
only 1.8%. This is a deceleration of growth and not what we'd like to see.
Back to
why GDP is misleading. GDP is calculated by summing up consumer spending,
government outlays (such as benefits and interest payments), gross investments
and exports and subtracting imports. All but exports fall under government
spending.
GDP
however, does not distinguish how government spending is financed. All the
government spending that has brought the U.S. to the brink of insolvency
is reflected in the GDP. As the chart below shows, the government entitlements
(such as unemployment benefits, etc.) account for over 35% of personal income.
http://www.etfguide.com//contributor/UserFiles/8/Image/Government%20entitlements.gif
Personal
income accounts for about 75% of GDP. Therefore government spending - which is
the polar opposite of organic economic growth - makes up over 26% of GDP
growth.
QE2
and Troubled Banks
Here is
one statistic that adds new meaning to why some banks are simply 'too big
to fail.' Of the 7,574 federal insured banks, 11.7% are on the FDIC's 'problem
list.'
From
January to March 2011, the banking (NYSEArca: KBE
- News)
and financial (NYSEArca: XLF - News)
industry reported $29 billion in earnings, the highest number since before the
financial crisis.
$24.4
billion of the $29 billion were generated by the 1.4% of banks with assets
exceeded $10 billion. Of course the largest banks received massive bailouts and
record low-borrowing rates. While large banks have recovered, regional banks
(NYSEArca: KRE - News)
have been left to fight for the leftover crumbs.
QE2 has
been great for Chase, Wells Fargo, Goldman Sachs, Bank of America and the
likes, but the neighborhood bank at the corner is likely struggling.
QE2
and Wealth
According
to the Boston Consulting Group (BCG), global wealth grew by $9 trillion, or 8%,
to $121.8 trillion in 2010. BCG includes cash and securities, but excludes
holdings in businesses, residences and luxury goods. The world's collective
investments and savings have surged $20 trillion from the 2008 lows and left
the world $10 trillion richer than in 2007. A look at the iShares MSCI EAFE
(NYSEArca: EFA - News)
and iShares MSCI Emerging Markets ETF (NYSEArca: EEM
- News)
confirms this.
QE2 is not
solely responsible for this global wealth increase, but it had a lion share in
the $3.6 trillion gain in North America. No doubt the government is happy to
tax a good portion of that wealth. From a tax point of view, QE2 may well have
been worth its $600 billion price tag.
In terms
of job creation, QE2 failed miserably. A recent SmartMoney.com article points
out that QE2 has created maybe 700,000 full-time jobs at a cost of around
$850,000 each. The percentage of the population in work is lower today than
last August (58.4% vs. 58.5%).
QE2
and Stocks
Denominated
in dollars, you and I know that the S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI)
and Nasdaq (Nasdaq: ^IXIC) rallied around 100% or more from the March 2009
lows. Measured in hard currency however, SmartMoney reasons that the S&P
has risen by just 8.4% in Swiss francs. Measured in gold (NYSEArca: GLD
- News),
the S&P 500 (NYSEArca: IVV - News)
is up just 4.5%.
So while
QE2 has created some wealth, it appears to also have created an illusion of
wealth, probably even another bubble. Not many bubbles stay afloat without
continuous air inflow. The cash inflow for the QE2 bubble is about to end and
the search for a pin has begun …’
[ It’s quite amazing that the so-called
‘professionals’ seek solace and comfort from mechanical application of
technical analysis when focus on fundamentals which are less prone to obfuscation
/ manipulation which ultimately has led to fraud after successful fraud,
debacle after debacle. ]
[$$]
Expect More 'Unexpectedly' Weak Economic Data at Barrons.com
Stocks Sink Again; Wal-Mart Slips 1.4%
Pops & Drops: Orbitz, Gap...
Stocks struggle amid US slowdown fears
Wall Street ends flat after volatile day; jobs ahead
US STOCKS-Wall St ends flat after volatile day; jobs ahead
Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP) Public
workers’ retirement funds had a gap of $1.26 trillion at the end of fiscal
2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Davis ‘This is how
we pay off our current debts and I think bondholders are simply happy to get
anything out of a country that admits it owes $15Tn (1/4 of global GDP) but
probably owes closer to $60Tn (entire global GDP) in the form of unfunded
liabilities. The funniest thing about this (and you have to laugh) is to see
Conservative pundits get on TV and talk about how we need to cut $100Bn worth
of discretionary spending to "fix" this (while continuing to spend
$1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is
no fixing this and even a Republican said you can’t fool all of the people all
of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away! ‘ … Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.]
National / World
Robert Gates: Kucinich move on Libya ‘dangerous’ Politico | Gates says move to end Libya attack would undermine alliances and military operations.
House
Republicans Kill Kucinich’s Libya Withdrawal Bill FoxNews.com | Yanked from schedule
only after it became clear that it might succeed.
Afghan
leader warns NATO not to become ‘occupying force’ | Karzai warned NATO-led
forces in Afghanistan they were at risk of being seen as an occupying force. [
Duh! What a bag of hot air karzai is! ]
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Dow
Down 280: Stocks Tumble as Bulls Throw in the Towel on Jobs By Aaron
Task The Daily
Ticker(6/1/11) ‘A day after rallying on hopes for a Greek
bailout, the stock market tumbled Wednesday following another round of dismal
economic data. The daylong sell-off accelerated into the close after Moody's
downgraded Greek debt late in the trading day.The Dow shed 2.2% to 12,291 while
the S&P and Nasdaq each lost 2.3%, and oil fell the most in three weeks as
the "risk on" trade came unwound in a hurry. Gold rose to a four-week
high while Treasury prices continued to rally; the yield on the benchmark
10-year note fell below 3% for the first time since early December.The
widespread sell-off was widely attributed to weaker-than-expected reports on
U.S. manufacturing, auto sales, and the ADP's report on private sector
payrolls. Just 38,000 private sector jobs were created last month, the lowest
level since September 2010, according to ADP.While the ADP report has a
checkered history of forecasting the Labor Department's survey, the combination
of ADP's report and the national ISM Manufacturing index hitting its lowest
level since 2009 prompted Wall Street economists to slash their forecasts for
Friday's jobs report. Deutsche Bank's Joe LaVorgna, for example, has cut his
forecast for Friday's payroll number two times this week, to 150,000 currently
from 300,000 last week.As my Breakout colleague Matt Nesto notes in the
accompanying clip, Wednesday's weak data confirms the recent trend, which has
been a pervasive slowdown across nearly every sector of the economy.
Citigroup's U.S. Economic Surprise Index, which whether data is beating or
missing estimates, turned negative last month and now sits at its lowest level
since January 2009, Bloomberg
reports. (See: What Recovery? The Economy's
Weak And Getting Weaker, Mish Says) Given
the declining trend has been in place for several weeks (at least), Wednesday
has the look of a "capitulation day" for the remaining econo-bulls.
As a result, the market may be set up for an upside surprise on Friday if the
May jobs number is anything but horrific. While the official consensus estimate
is for 170,000 jobs, the "whisper number" is now 100,000 according to
Reuters.While Jeff
Macke describes today's action as just noise within the trading range of
S&P 1300 to 1340, the heavy selling seemingly confirms the trend of
one-step forward, two-steps back that has been in force since early May. The
question is whether the stock market is just catching on to economic reality or
sniffing out something far worse in the offing, like QE3 or a political
breakdown over the debt ceiling.Aaron Task
is the host of The Daily Ticker. You can follow him on Twitter at @atask or email him at [email protected] ‘
Top
3 Reasons Markets Got Drop Kicked After Horrible Jobs and Manufacturing Data
Wall St. Cheat Sheet On
Wednesday June 1, 2011, ‘Markets closed down on Wall Street: DJI -2.22%
SP500 -2.28% Nasdaq -2.33% Gold 0.16% Oil -2.87% . Markets were in a downtrend
all day as trading volume remained low. On the commodities front, Oil (NYSE:USO) dropped over $3 from the high of the day to land
back below $100 a barrel. Gold (NYSE:GLD) caught some love on the usual QE3 talk and
another downgrade of Greece, while Silver (NYSE:SLV) got crushed nearly 5%.
Today’s markets were
down because:
1) Economic data sucked
. First we started with a much
weaker than expected ADP Employment report. That was the shot heard ’round
Wall Street. Then analysts tripped over each other to lower estimates for
tomorrow’s big Non-Farm Payrolls report. After that, the pessimists were
rewarded again as ISM
Manufacturing missed analyst expectations by a mile. The mantra for the
remainder of the day has been “slowdown”.
2) Automakers offered
disappointing news. The mantra continued as Ford (NYSE:F), General Motors (NYSE:GM), and Toyota (NYSE:TM) announced poor
automobile sales data. But data was brighter for retailers as we noted in
our Retailer
Roundup.
3) Tech had another big
day. Nokia
(NYSE:NOK) is getting hit like a bear raid and LinkedIn (NYSE:LNKD) broke
technical support as we warned yesterday. On a positive note, Netflix (NASDAQ:NFLX) and Apple (NASDAQ:AAPL) have a lot of positive focus on their
businesses during the All Things Digital Conference and next week’s Apple
Developer’s Conference. But the stocks are still down in the slaughter.
Bonus: Cisco
Projects Insane Growth in Web-Users and Data Traffic
Now that you’re in the
know, enjoy your evening!’
U.S.
Markets and ETFs Stumble On Weak Economic Data ETF Trends , June 1, 2011, ‘Disheartening economic data, namely
from private-sector jobs and manufacturing growth, pointed to a slowing
economy, sending markets and exchange traded funds (ETFs) lower.
The Institute for Supply
Management index of activity in manufacturing – the purchasing managers’ index,
or PMI – declined from 60.4 in April to 53.5 in May, which was well below the
expected drop to 57.0, report Steven Russolillo and Brendan Conway for The Wall Street Journal . Nevertheless,
readings above 50 indicate an expanding economy. [ Economic Data Tempers Gains
in U.S. Markets and ETFs. ]
The lower-than-expected
employment number from private-sector jobs in the U.S. only increased by 38,000
last month, whereas economists had previously anticipated an influx of 190,000.
According to the ADP report, the employment gauge plummeted to 58.2, a low last
seen in October 2010, from 62.7.
The ISM’s production
index fell from 63.8 in April to 54.0 and new orders dropped from 61.7 to 51.0,
a low last seen in June 2009, write Alex Kowalski and Shobhana Chandra for
Bloomberg .
Construction spending
inched up 0.4% in April, but the number was revised downward from the previous
month.
For more information on
the U.S. markets, visit our S&P 500 category .
Max Chen contributed
to this article.’
‘The sharp fall in the industrial
manufacturing index– from 60.4 to 53.5 in a single month is abundant
proof that we have reached a cyclical turn in the economy says Lakshman
Acouthan, CEO of ECRI, a highly respected economic consulting firm in New
York.
“This is a cyclical
turn,” Acouthan just told me. “It is worldwide. Nobody escapes,” the ECRI
executive told me after reading today’s economic tea leaves– which were
seriously negative and distinctly different than the growth predicted by
most large Wall Street institutions.
By underscoring “nobody
escapes,” I believe Acouthan was referring to China, where there are signs that
higher interest rates and stiff restrictions on bank reserves have begun to
bite into industrial growth and commodity prices.
Acouthan believes stock
markets and commodity prices, especially metals and energy, will continue to be
under pressure.
And Wednesday’s
plummeting share prices in the US were dramatic, as investors ran for the exits
and drove the indexes down a solid 2%. New jobs in the private sector
were meager, and home prices weakened again to the point wherer prices in many
cities have returned to pre-2002 levels. I anticipate more softness in
residential homes, which wil cetainly affect consumer sentiment.
Then, too, the yield on
10 year Treasuries, the most watched interest rate in financial markets, keept
falling well below the 3% mark, closing at a yield of 2.94% just as my bond
guru Bob Smith of Smith Capital had been predicting. So far, PIMCO’s Bill Gross
has egg on his face for selling his Treasury bonds and then going short–
betting that interest rates would spike and bond prices weaken.
GM shares plummeted on
the surprisingly weak sales of autos in the most recent period. By the end of
the trading session shares of integrated oil companies were weaker. Only gold
seemed to climb in an undramatic fashion to finish the day higher.
Sadly, the rout of the
risk trade may mean that the Fed’s monthly $600 billion QE2 quantitative
easing has not bolstered the economy so much as it induced speculation in
stocks and commodities.’
Amazon
Tax Bill Passes California State Assembly NBC LA | California could collect more than $1 billion a
year by taxing Amazon and other online retailers if a bill approved by the
Assembly becomes law.
House
Republicans Meet With Obama After Rejecting Debt Ceiling Increase Fox | The proposal to raise the
nation’s $14.3 trillion ceiling by another $2.4 trillion failed.
Florida
governor signs welfare drug-screen measure CNN | Claims welfare payments subsidize drug addiction.
Ron
Paul: We Are Enabling A Future American Dictatorship Steve Watson | 2012 candidate warns
that lack of oversight is enabling the rise of a dictatorship in the US.
The
Federal Reserve Cartel: The Eight Families Dean Henderson | Four Horsemen of Banking are among the
top ten stock holders of virtually every Fortune 500 corporation.
Fukushima:
French research institute finds high radioactivity NHK | Radiation in Fukushima
Prefecture 60 times higher than the annual reference level.
NATO
extends Libya air war, says Kadhafi will go AFP | NATO Wednesday extended its Libyan air war by
three months. Drudgereport: FLASHBACK:
Obama: U.S. Involvement Would Last 'Days, Not Weeks'...
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Milbank:
Congress clocks in to clock out (Washington Post) [ ‘At 10 a.m. Tuesday morning, the Senate came
to order. Forty-one seconds later, it adjourned. During this legislative
session, there was no bill under consideration, no debate on the floor, not
even an opening prayer or a pledge of allegiance. The only senator in the
chamber was Mark Warner (D-Va.), the presiding officer. ‘After completing his gavel duties, Warner
looked up at the 20 tourists in the public gallery and wondered aloud to the
clerk what the spectators must think of the proceedings.“They think, ‘this is
our government?’ ” the clerk replied. That’s if they’re being charitable. The
Senate is supposed to be in Memorial Day recess this week. But the chamber is
so ungovernable that Majority Leader Harry Reid doesn’t even have the votes to
declare a recess. So he decided instead to have a few “pro forma” sessions,
such as Tuesday’s, allowing senators to take a vacation without voting for it.
In a sense, the Senate has been in a pro-forma session all year…’ Now who’s
being charitable … I’d say Mr. Milbank in his euphemistic description supra as
well as his unflinching defense of
wobama the b (for b***s***) despite wobama’s reneging on virtually all his
campaign promises / rhetoric to the nation’s unequivocal detriment. Thus, it is
indeed Mr. Milbank, journalistically speaking, who as well clocks in to clock
out. Simply put, wobama is nothing less than the worst of the democratic
platform combined with the worst of the republican platform. At near single
digit approval rates for congress, I find it difficult to imagine a realistic
approval rate for wobama exceeding same.
Davis
‘This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS
HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Senate
Dems find themselves in a tough spot (WP) [ Tough spot? Like Iraq and a
hard place called Afghanistan; indeed they are. [Pakistani
troops, NATO helicopters engage in firefight 6th
soldier charged in plot to kill Afghan civilians (Washington Post) [ Gen. Hamid Gul: U.S. Generals Provoking War with Pakistan
Jones | U.S. intelligence is that bin Laden needs dialysis every 3 days/ http://whatreallyhappened.com/WRHARTICLES/osama_dead.php 5-1-11, JUST
MOMENTS BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED OSAMA BIN
LADEN, THE WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED DENIAL OF
SERVICE ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN ACTUALLY DIED
IN DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T WANT AVAILABLE
WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT IS POSSIBLE
THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A "REVENGE" ATTACK
FROM "AL QAEDA" ON THE UNITED STATES, WITH WHICH TO JUSTIFY TOTAL WAR
ON THE MIDDLE EAST… FLASHBACK: Editorial: US in
quagmire War
in Afghanistan and Iraq costs America $1trillion Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
]
Karzai
orders change in U.S. strategy
Afghan president’s ultimatum could complicate U.S. drawdown. (Washington
Post) [ Karzai’s always been hot-air and
antithetical to the true sovereign interests of Afghanistan, acting more as a
war criminal nation american shill. Davis ‘This is how
we pay off our current debts and I think bondholders are simply happy to get
anything out of a country that admits it owes $15Tn (1/4 of global GDP) but
probably owes closer to $60Tn (entire global GDP) in the form of unfunded
liabilities. The funniest thing about this (and you have to laugh) is to see
Conservative pundits get on TV and talk about how we need to cut $100Bn worth
of discretionary spending to "fix" this (while continuing to spend
$1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is
no fixing this and even a Republican said you can’t fool all of the people all
of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Senate
Dems find themselves in a tough spot (WP) [ Tough spot? Like Iraq and a
hard place called Afghanistan; indeed they are. [Pakistani
troops, NATO helicopters engage in firefight 6th
soldier charged in plot to kill Afghan civilians (Washington Post) [ Gen. Hamid Gul: U.S. Generals Provoking War with Pakistan
Jones | U.S. intelligence is that bin Laden needs dialysis every 3 days/ http://whatreallyhappened.com/WRHARTICLES/osama_dead.php 5-1-11, JUST
MOMENTS BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED OSAMA BIN
LADEN, THE WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED DENIAL OF
SERVICE ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN ACTUALLY DIED
IN DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T WANT AVAILABLE
WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT IS POSSIBLE
THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A "REVENGE" ATTACK
FROM "AL QAEDA" ON THE UNITED STATES, WITH WHICH TO JUSTIFY TOTAL WAR
ON THE MIDDLE EAST… FLASHBACK: Editorial: US in
quagmire War
in Afghanistan and Iraq costs America $1trillion Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
]
House
rejects debt ceiling increase The
317-to-98 vote was a bipartisan rejection of extending the nation’s current
debt limit of $14.3 trillion unless major spending reductions accompany the
legislation. (Washington Post) [ Well, perish the thought that increases in
liabilities should be commensurate with decreases in liabilities to maintain a
… balance … sheet? At this point, who’s counting? After all, are there really
degrees of defacto bankruptcy? Or, an either / or absolute state; viz., you are
or you’re not defacto bankrupt. Pervasively corrupt, defacto bankrupt america
is in fact defacto bankrupt! … Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times. The risk of a debt default over the combustible issue of the
Medicare deficit hangs over the course of the stock market. Buyers Beware!“I
was up in Wall Street this week,” Brooks said. “They’re vastly
underestimating the source of piolitical risk here. We could have a major
problem, I think, either this summer or the next couple years. And I’d be
worried about investing too much in the market. That’s my financial advice.”I
have to admit Brooks woke me up. I had blithely been assuming a deal to raise
the debt limit would get resolved at the last minute–the classic American way.
But, the showdown between Republican cutters and Democrat defenders of Medicare
may a lot more treacherous a path than I anticipated.And the potential deep
cuts underscore what I mentioined in my “Market’s
Wall of Worry” post yesterday about the prospects of the Income line
of the GDP being reduced by necessity. Cut Medicare and lerss money will
be spent on health care, less money on medical instruments, less money on
drugs, on pills, on doctotrs visits.Less money on healthcare means less money
circulating and so less tax revenue. It’s a future scenario few of us
want to contemplate. A runup to possible default will not be positive for the
stock market. Even if dfefault is avoided then, the notion that Wall
Street doesn’t get the crisis measns there’s too much denial of reality in
stock prices. I’m with David Brooks.’ … TEMPLETON
chairman: Financial Crisis 'Around Corner'... By Kana
Nishizawa / Bloomberg - May 30, 2011 ‘ Mark
Mobius, executive chairman of Templeton Asset Management’s emerging markets
group, said another financial crisis is inevitable because the causes of the
previous one haven’t been resolved …’ STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Business Insider Joe Weisenthal …
Globally, and in fraudulent america particularly, the
stock markets / bourses are a total joke as they try to window dress their end
of month figures based on b*** s*** alone. We’ve seen this before as it played
out in the prior phase of this ongoing financial crisis. Shiller Home Price
Index comes in at 100% worse than expectations … and don’t forget, that
includes the dollar debasing realities which makes this report even more dire.
Take this ‘me too’ pop on fraudulent wall street as an especially great
opportunity to sell, take profits since there is much, much worse to come.
Remember: ‘sell in May and go away’ … so … don’t be a lune, loon, sell in
June! Another
Financial Crisis Is On The Way, Mobius Says STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away! ‘ … Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.]
The
Market’s Wall of Worry [ http://blogs.forbes.com/robertlenzner/2011/05/29/the-markets-wall-of-worry ] Robert
Lenzner Street Talk ‘
* QE2 will be over in 30 days. That removes a $600 billion injection of money
in the financial system.
*The bottom line all
talks of cuts is less federal, state and local spending. Removes money from
income total for the nation.
*Meanwhile, cost of
healthcare, food, transportation continues to rise squeezing middle
class.
*The yield on 10 year
Treasuries is 3.11% and trending lower in anticipation soifter economy.
*Housing market could
continue weak for some years, not months, affecting millions of ordinary
Americans.
* Price of crude oil
makes gasoline expensive and brings demand destruction.
* Stocks rally now over
2 years old. Commodities have also run up bigtime.
* China trying to slow
its economic growth and having difficulty doing so.
*Europe facing costly
bailouts troubled nations and weaker financial institutions.
*Showdown over
Palestinian state could lead to another outbreak hostilities in the Middle
East.
*If US, Europe and China
slowing what are the prospects for global economy, corporate profits, market
valuations?
*Japan badly hurt by
earthquake and tsumami.
*Trade volumes decline
more sharply than output during downturns according to The Economist.
*But OECD predicts GDP
up 4.2% and trade volumes gain 8%.
31-May-2011 09:00
Data through March 2011, released today by Standard &
Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of
U.S. home prices, show that the U.S. National Home Price Index declined by 4.2%
in the first quarter of 2011...
* The S&P/Case-Shiller Home Price Indices are calculated
monthly using a three-month moving average and published with a two month lag.
New index levels are released at 9 am on the last Tuesday of every month.
(data as of 31-May-2011)
Home Price Index Levels
Home Price Sales Pair Counts
U.S. National Index Levels
Home Price Tiered Index Levels
Condominium Index Levels
Condominium Sales Pair Counts
Key Housing Indicators (Monthly)
The Latest Indicators are usually updated by 2 pm on
the last Tuesday of every month.
National
Home Prices Hit New Low in 2011 Q1 According to the S&P/Case-Shiller Home
Price Indices
Data through March 2011, released today by Standard &
Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of
U.S. home prices, show that the U.S. National Home Price Index declined by 4.2%
in the first quarter of 2011...
Home
Prices Edge Closer to 2009 Lows According to the S&P/Case-Shiller Home
Price Indices
Data through February 2011, released today by Standard &
Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of
U.S. home prices, show prices for the 10- and 20-city composites are lower than
a year ago but still slightly above...
Home
Prices Off to a Dismal Start in 2011 According to the S&P/Case-Shiller Home
Price Indices
Data through January 2011, released today by Standard &
Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of
U.S. home prices, show further deceleration in the annual growth rates in 13 of
the 20 MSAs and the 10- and 20-City...
S&P/Case-Shiller
Home Price Indices: 2010 A Year In Review
S&P/Case-Shiller
Home Price Indices and Seasonal Adjustment
S&P/Case-Shiller
Home Price Indices: 2009 A Year In Review
NATIONAL HOME PRICES HIT NEW LOW IN 2011 Q1
According
to the S&P/Case-Shiller Home Price Indices
New York, May 31, 2011 –
Data through March 2011, released today by Standard & Poor’s for its
S&P/Case-Shiller1
Home
Price Indices, the leading measure of U.S. home prices, show that the U.S.
National Home Price
Index declined by 4.2% in the first quarter of 2011, after having fallen 3.6%
in the
fourth quarter of 2010.
The National Index hit a new recession low with the first quarter’s data and
posted an annual decline
of 5.1% versus the first quarter of 2010. Nationally, home prices are back to
their mid-2002 levels.
As of March 2011, 19 of
the 20 MSAs covered by S&P/Case-Shiller Home Price Indices and both
monthly composites were
down compared to March 2010. Twelve of the 20 MSAs and the 20-City
Composite also posted
new index lows in March. With an index value of 138.16, the 20-City Composite
fell below its earlier
reported April 2009 low of 139.26. Minneapolis posted a double-digit 10.0%
annual
decline, the first
market to be back in this territory since March 2010 when Las Vegas was down
12.0%
on an annual basis. In
the midst of all these falling prices and record lows, Washington DC was the
only
city where home prices
increased on both a monthly (+1.1%) and annual (+4.3%) basis. Seattle was up a
modest 0.1% for the
month, but still down 7.5% versus March 2010.
1
Case-Shiller®
and Case-Shiller Indexes®
are registered trademarks of Fiserv, Inc.
The chart on the
previous page depicts the annual returns of the U.S. National, the 10-City
Composite
and the 20-City
Composite Home Price Indices. The S&P/Case-Shiller U.S. National Home Price
Index,
which covers all nine U.S.
census divisions, recorded a 5.1% decline in the first quarter of 2011 over the
first quarter of 2010.
In March, the 10- and 20-City Composites posted annual rates of decline of 2.9%
and 3.6%, respectively.
Thirteen of the 20 MSAs and both monthly Composites saw their annual growth
rates fall deeper into
negative territory in March. While they did not worsen, Chicago, Phoenix and
Seattle saw no
improvement in their respective annual rates.
“This month’s report is
marked by the confirmation of a double-dip in home prices across much of the
nation. The National
Index, the 20-City Composite and 12 MSAs all hit new lows with data reported
through March 2011. The
National Index fell 4.2% over the first quarter alone, and is down 5.1%
compared to its year-ago
level. Home prices continue on their downward spiral with no relief in sight.”
says David M. Blitzer,
Chairman of the Index Committee at S&P Indices. “Since December 2010, we
have found an increasing
number of markets posting new lows. In March 2011, 12 cities - Atlanta,
Charlotte, Chicago,
Cleveland, Detroit, Las Vegas, Miami, Minneapolis, New York, Phoenix, Portland
(OR) and Tampa - fell to
their lowest levels as measured by the current housing cycle. Washington D.C.
was the only MSA
displaying positive trends with an annual growth rate of +4.3% and a 1.1%
increase
from its February level.
“The rebound in prices
seen in 2009 and 2010 was largely due to the first-time home buyers tax credit.
Excluding the results of
that policy, there has been no recovery or even stabilization in home prices
during or after the
recent recession. Further, while last year saw signs of an economic recovery,
the most
recent data do not point
to renewed gains.
“Looking deeper into the
monthly data, 18 MSAs and both Composites were down in March over
February. The only two
which weren’t, are Washington DC, up 1.1%, and Seattle, up 0.1%. Atlanta,
Cleveland, Detroit and
Las Vegas are the markets where average home prices are now below their
January 2000 levels.
With a March index level of 100.27, Phoenix is not far off.”
S&P/Case-Shiller
U.S. National Home Price Index
[chart]
US
National, index level (left)
US
National, %chya (right)
Nationally,
home prices are back
to
their mid-2002 levels
Record
low decline of 18.9% in
2009Q1
(solid line)
National
index
hits
new
low in
2011Q1
(dotted
line)
Source:
Standard & Poor's and Fiserv
2011
Q1 2011 Q1/2010 Q4 2010 Q4/2010 Q3
Level
Change (%) Change (%) 1-Year Change (%)
U.S.
National Index 125.41 -4.2% -3.6% -5.1%
March 2011 March/February
February/January
METROPOLITAN
AREA LEVEL CHANGE (%) CHANGE (%) 1-YEAR CHANGE (%)
ATLANTA
98.36 -1.9% -0.1% -5.2%
BOSTON
147.36 -1.7% -1.5% -2.7%
CHARLOTTE
106.96 -2.4% -1.3% -6.8%
CHICAGO
110.57 -2.4% -2.2% -7.6%
CLEVELAND
96.80 -1.8% -0.7% -6.3%
DALLAS
112.89 -0.8% -0.2% -2.5%
DENVER
120.55 -0.6% -1.2% -3.8%
DETROIT
67.07 -2.0% 0.8% -0.9%
MIAMI
137.28 -0.8% -2.0% -6.1%
MINNEAPOLIS
105.57 -3.7% -3.3% -10.0%
NEW
YORK 163.50 -0.9% -0.6% -3.4%
PHOENIX 100.27 -0.5% -0.7% -8.4%
PORTLAND
132.67 -0.7% -1.6% -7.6%
SAN
DIEGO 153.88 -0.8% -1.3% -4.0%
SAN
FRANCISCO 129.82 -0.1% -2.6% -5.1%
SEATTLE
132.97 0.1% -1.9% -7.5%
TAMPA 127.08 -0.7% -0.8%
-6.9%
WASHINGTON 182.98 1.1% -0.3% 4.3%
COMPOSITE-10
151.66 -0.6% -1.2% -2.9%
COMPOSITE-20
138.16 -0.8% -1.1% -3.6%
Source:
Standard & Poor's and Fiserv
Data
through March 2011
The chart on the
previous page shows the index levels for the U.S. National Home Price Index, as
well as
its annual returns. As
of the first quarter of 2011, average home prices across the United States are
back
at their mid-2002
levels. The National Index level hit a new low in the first quarter of 2011; it
fell by
4.2% in the first
quarter of 2011 and is 5.1% below its 2010Q1 level.
Eleven cities and both
Composites have posted at least eight consecutive months of negative
month-overmonth
returns. Of these, eight
cities are down 1% or more. The only cities to post positive improvements
in March versus their
February levels are Seattle and Washington D.C. with monthly returns of +0.1%
and +1.1% respectively.
The table below
summarizes the results for March 2011. The S&P/Case-Shiller Home Price
Indices are
revised for the 24 prior
months, based on the receipt of additional source data. More than 23 years of
history for these data
series is available, and can be accessed in full by going to
www.homeprice.standardandpoors.com
Since its launch in
early 2006, the S&P/Case-Shiller Home Price Indices have published, and the
markets
have followed and
reported on, the non-seasonally adjusted data set used in the headline indices.
For
analytical purposes,
Standard & Poor’s does publish a seasonally adjusted data set covered in
the
headline indices, as
well as for the 17 of 20 markets with tiered price indices and the five condo
markets
that are tracked.
A summary of the monthly
changes using the seasonally adjusted (SA) and non-seasonally adjusted
(NSA) data can be found
in the table below.
NSA
SA NSA SA
US
National -4.2% -1.9% -3.6% -1.8%
Metropolitan
Area NSA SA NSA SA
Atlanta
-1.9% -1.2% -0.1% 0.6%
Boston
-1.7% -0.9% -1.5% -0.7%
Charlotte
-2.4% -2.6% -1.3% -0.8%
Chicago
-2.4% -0.8% -2.2% -0.7%
Cleveland -1.8% -1.3% -0.7% 0.6%
Dallas
-0.8% -0.8% -0.2% 0.3%
Denver
-0.6% -0.3% -1.2% -0.5%
Detroit
-2.0% -0.7% 0.8% 1.8%
Las
Vegas -1.1% -0.6% -1.0% -0.4%
Los
Angeles -0.3% 0.1% -1.0% -0.1%
Miami
-0.8% 0.3% -2.0% -1.5%
Minneapolis
-3.7% -2.5% -3.3% -1.5%
New York -0.9% -0.1% -0.6% -0.2%
Phoenix
-0.5% 0.1% -0.7% 0.1%
Portland
-0.7% -0.4% -1.6% -0.8%
San
Diego -0.8% -0.9% -1.3% -0.8%
San
Francisco -0.1% 0.5% -2.6% -1.6%
Seattle
0.1% 0.2% -1.9% -1.7%
Tampa
-0.7% 0.0% -0.8% -0.1%
Washington
1.1% 1.2% -0.3% 0.5%
Composite-10
-0.6% -0.1% -1.2% -0.3%
Composite-20
-0.8% -0.2% -1.1% -0.2%
Source:
Standard & Poor's and Fiserv
Data through March 2011
March/February
Change (%) February/January Change (%)
2011
Q1/2010 Q4 2010 Q4/2010 Q3
S&P Indices has
introduced a new blog called HousingViews.com. This interactive blog delivers
realtime
commentary and analysis
from across the Standard & Poor’s organization on a wide-range of topics
impacting residential
home prices, homebuilding and mortgage financing in the United States. Readers
and viewers can visit
the blog at www.housingviews.com, where feedback and commentary is certainly
welcomed and encouraged.
The S&P/Case-Shiller
Home Price Indices are published on the last Tuesday of each month at 9:00 am
ET. They are constructed
to accurately track the price path of typical single-family homes located in
each
metropolitan area provided.
Each index combines matched price pairs for thousands of individual houses
from the available
universe of arms-length sales data. The S&P/Case-Shiller National U.S. Home
Price
Index tracks the value
of single-family housing within the United States. The index is a composite of
single-family home price
indices for the nine U.S. Census divisions and is calculated quarterly. The
S&P/Case-Shiller
Composite of 10 Home Price Index is a value-weighted average of the 10 original
metro area indices. The
S&P/Case-Shiller Composite of 20 Home Price Index is a value-weighted
average of the 20 metro
area indices. The indices have a base value of 100 in January 2000; thus, for
example, a current index
value of 150 translates to a 50% appreciation rate since January 2000 for a
typical home located
within the subject market.
These indices are
generated and published under agreements between Standard & Poor’s and
Fiserv, Inc.
The S&P/Case-Shiller
Home Price Indices are produced by Fiserv, Inc. In addition to the S&P/Case-
Shiller Home Price
Indices, Fiserv also offers home price index sets covering thousands of zip
codes,
counties, metro areas,
and state markets. The indices, published by Standard & Poor's, represent
just a
small subset of the
broader data available through Fiserv.
For more information
about S&P Indices, please visit www.standardandpoors.com/indices.
About S&P Indices
S&P Indices, the
world’s leading index provider, maintains a wide variety of investable and
benchmark
indices to meet an array
of investor needs. Over $1.25 trillion is directly indexed to Standard &
Poor's
family of indices, which
includes the S&P 500, the world's most followed stock market index, the
S&P/Case-Shiller
Home Price Indices, the leading measure of U.S. home prices, the S&P Global
BMI, an
index with approximately
11,000 constituents, the S&P GSCI, the industry's most closely watched
commodities index, and
the S&P National AMT-Free Municipal Bond Index, the premier investable
index
for U.S. municipal
bonds. For more information, please visit www.standardandpoors.com/indices.
Standard
& Poor’s does not sponsor, endorse, sell or promote any S&P index-based
investment product.
For more information:
David R. Guarino
Standard & Poor’s
Communications
212-438-1471
David Blitzer
Standard & Poor’s
Chairman of the Index
Committee
212-438-3907
Wall
Street 'Vastly Underestimating' Risk of Debt Default Forbes / Robert Lenzner StreetTalk ‘ “Meet the Press”
climaxed Sunday with a startling market prognostication from David
Brooks, conservative columnist for the NY
Times. The risk of a debt default over the combustible issue of the
Medicare deficit hangs over the course of the stock market. Buyers Beware!“I
was up in Wall Street this week,” Brooks said. “They’re vastly
underestimating the source of piolitical risk here. We could have a major
problem, I think, either this summer or the next couple years. And I’d be worried
about investing too much in the market. That’s my financial advice.”I have to
admit Brooks woke me up. I had blithely been assuming a deal to raise the debt
limit would get resolved at the last minute–the classic American way. But, the
showdown between Republican cutters and Democrat defenders of Medicare may a
lot more treacherous a path than I anticipated.And the potential deep cuts
underscore what I mentioined in my “Market’s
Wall of Worry” post yesterday about the prospects of the Income line
of the GDP being reduced by necessity. Cut Medicare and lerss money will
be spent on health care, less money on medical instruments, less money on
drugs, on pills, on doctotrs visits.Less money on healthcare means less money
circulating and so less tax revenue. It’s a future scenario few of us
want to contemplate. A runup to possible default will not be positive for the
stock market. Even if dfefault is avoided then, the notion that Wall
Street doesn’t get the crisis measns there’s too much denial of reality in
stock prices. I’m with David Brooks.’
TEMPLETON
chairman: Financial Crisis 'Around Corner'... By Kana
Nishizawa / Bloomberg - May 30, 2011 ‘ Mark
Mobius, executive chairman of Templeton Asset Management’s emerging markets
group, said another financial crisis is inevitable because the causes of the
previous one haven’t been resolved. “There is definitely going to be another
financial crisis around the corner because we haven’t solved any of the things
that caused the previous crisis,” Mobius said at the Foreign Correspondents’
Club of Japan in Tokyo today
in response to a question about price swings. “Are the derivatives regulated?
No. Are you still getting growth in derivatives? Yes.” The total value of
derivatives in the world exceeds total global gross domestic product by a
factor of 10, said Mobius, who oversees more than $50 billion. With that volume
of bets in different directions, volatility and equity market crises will
occur, he said. The global financial crisis three years ago was caused in part
by the proliferation of derivative products tied to U.S. home loans that ceased
performing, triggering hundreds of billions of dollars in writedowns and
leading to the collapse of Lehman Brothers Holdings Inc. in September 2008. The
MSCI AC World Index of developed and emerging market stocks tumbled 46 percent
between Lehman’s downfall and the market bottom on March 9, 2009. “With every
crisis comes great opportunity,” said Mobius. When markets are crashing,
“that’s when we’re going to be able to invest and do a good job,” he said. The
freezing of global credit markets caused governments from Washington to Beijing to London to pump more than $3
trillion into the financial system to shore up the global economy. The MSCI AC
World gauge surged 99 percent from its March 2009 low through May 27.
The largest U.S. banks
have grown larger since the financial crisis, and the number of
“too-big-to-fail” banks will increase by 40 percent over the next 15 years,
according to data compiled by Bloomberg. Separately, higher capital requirements
and greater supervision should be imposed on institutions deemed “too important to fail” to reduce the chances of large-scale
failures, staff at the International
Monetary Fund warned in a report on May 27. “Are the banks bigger than they
were before? They’re bigger,” Mobius said. “Too big to fail.” The money manager had earlier
said at the same event that Africa
has an “incredible” investment potential and that he has stakes in Nigerian banks.
“These banks are doing
very well and are much better regulated than they were in the past,” Mobius
said, without disclosing which lenders he holds. Banks account for five of the
eight stocks in the MSCI
Nigeria (MXNI) Index. Guaranty Trust Bank Plc, the country’s No. 2 lender
by market value, surged 31 percent in the six months through May 27, according
to data compiled by Bloomberg. Shares of Access Bank Nigeria Plc recorded the
second-biggest decline on the gauge in the period, the data show.
To contact the reporter
on this story: Kana Nishizawa in Tokyo
at [email protected]
To contact the editor
responsible for this story: Nick Gentle at [email protected] ‘
U.S.
Home Prices Drop To 2002 Levels, Ho-Hum Says Mr. Market Forbes Steve Schaefer ‘Wall Street
appears to have already priced in the latest batch of feeble data from the
housing market, with the major indexes opening sharply higher despite a weak
reading from the March
S&P/Case-Shiller index.
The 20-city index was
down 3.6% from a year ago in March, marking “the confirmation of a double-dip
in home prices across much of the nation,” said David Blitzer, chairman of the
index committee at S&P Indices. “Home prices continue on their downward
spiral with no relief in sight.”
For the first quarter,
average prices were down 4.2%, after dropping 3.6% over the last three months
of 2010. The drop back into a double-dip, which has been anticipated for
months, comes as the housing market continues to give back the gains built up
during a debt-fueled bubble that saw an unprecedented surge in prices until the
subprime meltdown signaled the first cracks in the dam a few years ago.
While the housing market
is contributing little, if anything, to the sluggish U.S. economic recovery,
the stock market appears reconciled to that fact, mostly because it has been
telegraphed for months. Despite the soft reading from the
S&P/Case-Shiller index Tuesday, major equity indexes returned from the
Memorial Day break with a vengeance.
In the first five
minutes of trading the Dow Jones industrial average was up 121 points at
12,563. All 30 blue-chip components were in the green including Home Depot, up 0.5%, which has faced challenges in recent
years as its core business operates at the intersection of housing and consumer
spending.
The S&P 500 gained
13 points to 1,344, while the Nasdaq added 29 points to 2,826. Among the few
big losers in early trading was Nokia, down 13% after cutting its earnings
outlook for the second quarter and full fiscal year. (See “Nokia
Sees Q2 Worse Than Expected.”)’
“There is definitely
going to be another financial crisis around the corner because we haven’t
solved any of the things that caused the previous crisis. Are the derivatives
regulated? No. Are you still getting growth in derivatives? Yes.”
That was his response to
a question about price swings at the Foreign Correspondents’ Club of Japan in Tokyo today, according
to Bloomberg.
Derivatives are
financial instruments whose value is based on some underlying asset, like a
mortgage for instance, and and can be used to either hedge risk or for
completely speculative positions. There are all kinds of derivatives investors
can invest in or against including something called the death
derivative where, you guessed it, investors bet on people’s deaths.
The most infamous
derivatives are the ones tied to residential mortgages and which led to the
demise of the financial system back in 2008. When homeowners began defaulting
on their mortgages the affect was nearly detrimental to all the financial
institutions that shared the risk through these exotic derivatives.
An IMF
report from 2010 puts it this way:
Over-the-counter (OTC)
derivatives markets have grown considerably in recent years, with total
notional outstanding amounts exceeding $600 trillion at the end of June 2009
(Figure 3.1). During the financial crisis, the credit default swap (CDS) market,
a part of the OTC derivatives market, took center stage as difficulties in
financial markets began to intensify and the counterparty risk involved in a
largely bilaterally cleared market became apparent. Authorities had to make
expensive decisions regarding Lehman Brothers and AIG based on only partially
informed views.
In fact, the
derivatives battle at Lehman Brothers is still waging on with the
counter-parties in Lehman Brothers derivatives trades still looking to get paid
for their bets. Bankrupt Lehman has been in talks for over a year with about a
dozen big-bank counter-parties about the value of the their claims.
Meanwhile, Mobius says the
derivatives market today is still so rife with bets made in different
directions that major volatility is inevitable and the equity markets will
suffer. He said the total value of derivatives in the world exceeds total
global gross domestic product by a factor of 10, according to the Bloomberg
report.
The derivatives market
is one that regulators are attempting to reform right now with new rules
scheduled to be implemented this year. The new rules would require more
disclosure and transparency.
But like in other
attempts at regulating lucrative lines of business regulators are facing
resistance from Wall Street friendly lawmakers looking to extend the deadline.
Last week, U.S. Rep.
Spencer Bachus co-sponsored a bill that would approve a measure to delay the
implementation of to September 2012. The legislation to delay the
implementation of rules was passed last week with Bachus saying the move was
neccessary to “restore order to the Dodd-Frank Act derivatives rulemaking
process.” ‘
STOCKS
HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need To Know Business Insider , Tuesday May 31, 2011 ‘Anyone of the bearish persuasion is pulling
their hair out right now.
But first, the
scoreboard:
Dow: +123.59
NASDAQ: +36.20
S&P 500: +13.12
And now, the top
stories:
Greece is in the midst
of a classic default spiral, one of the great paradoxes of the financial
markets. In its simplest form, a debt spiral begins when an issuer, be it a
corporation, municipality, or country faces an upcoming obligation which it
needs to refinance. If the markets deem that issuer to be a poor credit risk,
that issuer’s cost of selling new debt to pay off its upcoming obligation
rises, increasing expenses and further impairing credit quality.
If this cycle raises
financing costs to unsustainable levels, say 24 – 25%, it becomes wholly
impossible for the issuer to pay off upcoming obligations by issuing new ones,
hence ensuring a default and earning the name debt or default spiral. As a
default spiral is a self-sustaining game, the only way for an issuer to solve a
default spiral is by breaking the rules of the game, namely via obtaining
external assistance (being acquired, or, in our example, obtaining low cost
loans from other governments) or by defaulting. The only way that the first
option, obtaining support, can work is if that support somehow restores
confidence in the spiraling issuer.
[chart http://s.wsj.net/public/resources/images/OB-OC823_Greece_F_20110531145045.jpg ]
Faith In U.S. Dollars And U.S. Debt Is Dead
The Game Is Over Michael Snyder
| A day is coming when the rest of the world will decide that it no longer has
faith in U.S. dollars or in U.S. debt.
Eleven
million low and middle-income workers’ pay will ‘flatline’ Mail Online | The average wage taken
home by 11 million British workers will remain ‘roughly the same’ until at
least 2015.
Memorial
Day BBQ will cost you 29% more this year thanks to inflation Mail Online | Those thinking of
hosting a BBQ – even a modest one – can expect to fork out an extra $45 on food
to serve a dozen guests.
Uranium
Stocks Under Siege as Fukushima Continues Spewing Radiation James West | There will be a
persistent chorus of uranium investors who have an audience in the media
proclaiming uranium to be the ‘contrarian trade of the decade’.
What Would
Fractional Silver Mean? Jimm Motyka
| I believe that fractional silver is not going to be a trend, but will be the
rule in the coming year.
When
Faith In U.S. Dollars And U.S. Debt Is Dead The Game Is Over Michael Snyder | A day is coming when
the rest of the world will decide that it no longer has faith in U.S. dollars
or in U.S. debt.
U.S.
home price index falls to double-dip in March Chicago Tribune | National home
prices hit a new low in March, giving credence to long-simmering worries about
a double dip in the housing market.
Uranium
Stocks Under Siege as Fukushima Continues Spewing Radiation James West | There will be a
persistent chorus of uranium investors who have an audience in the media
proclaiming uranium to be the ‘contrarian trade of the decade’.
What Would
Fractional Silver Mean? Jimm Motyka
| I believe that fractional silver is not going to be a trend, but will be the
rule in the coming year.
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
A
seismic shift in the defense industry Gone are the days of
“no-questions-asked funding requests.” Pentagon must now make do with less.
(Washington Post) [ I think there are many who’ll say they’ll believe it when
they really see it; and, beyond the off-budget-item chicanery. I’m certainly
one, and so is Davis: Davis ‘This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ Senate
Dems find themselves in a tough spot (WP) [ Tough spot? Like Iraq and a
hard place called Afghanistan; indeed they are. [Pakistani
troops, NATO helicopters engage in firefight 6th
soldier charged in plot to kill Afghan civilians (Washington Post) [ Gen. Hamid Gul: U.S. Generals Provoking War with Pakistan
Jones | U.S. intelligence is that bin Laden needs dialysis every 3 days/ http://whatreallyhappened.com/WRHARTICLES/osama_dead.php 5-1-11, JUST
MOMENTS BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED OSAMA BIN
LADEN, THE WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED DENIAL OF
SERVICE ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN ACTUALLY DIED
IN DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T WANT AVAILABLE
WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT IS POSSIBLE
THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A "REVENGE" ATTACK
FROM "AL QAEDA" ON THE UNITED STATES, WITH WHICH TO JUSTIFY TOTAL WAR
ON THE MIDDLE EAST… FLASHBACK: Editorial: US in
quagmire War
in Afghanistan and Iraq costs America $1trillion Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
]
Israeli
central banker to bid for IMF? (Washington Post) [ Dumb as they are by most
measures of same including the IMF’s mission and purpose, I doubt even they’d
be that self-destructively dumb in light of their destructive,
nation-bankrupting follies / adventurism in the Mideast for which they’re
already suspect in terms of foolishly, self-defeatingly pro-israeli
policy. Krauthammer:
What Obama did to Israel (Washington Post) [ The fundamental problem with
Mr. Krauthammer’s non-sequitor illogic is the manner in which war crimes nation
israel came by those land (war) and the numerous violations of u.n. resolutions
(ie., 242, 338, etc., and oslo accords, etc.), international, war crimes
(flotilla raid, etc.) since then. He thus becomes the journalistic equivalent
of what Pat Buchanan refers to as the ‘israeli amen corner’ in congress. If
only one could realistically ignore the detriment the world and america have
suffered as a direct consequence of this foreign policy bent … Top
Democrats criticize Obama’s Israel policy
(WP) [ What policy … to him, just words … more b***s*** . I’ve thus far
refrained from commenting on what I’ve anticipated to be ‘just more of the
same’; empty rhetoric. Pervasively corrupt, defacto bankrupt america makes the
wrong choice at every turn, ensuring in every way, decline and fall;
self-destructive, self-defeating. Make no mistake, and let me reiterate, that
substantially underrated President General Eisenhower would have put American
interests first and the current debacle would never have occurred in the first
instance … see, ie., http://albertpeia.com
, historical documentation, from website: http://www.ameu.org ‘Lest We Forget The Israeli lobby in
Washington has successfully influenced the U.S. Congress to give billions of
non-repayable dollars each year to Israel on the premise that Israel's loyalty
and strategic importance to the United States make it an ally worthy of such
unprecedented consideration. Is it ? In his Farewell Address, George Washington
warned Americans to avoid a passionate attachment to any one nation because it
promotes "the illusion of an imaginary common interest in cases where no
real common interest exists." In 1948, U.S. Secretary of Defense James
Forrestal, an opponent of the creation of a Jewish state in Palestine, warned
that, even though failure to go along with the Zionists might cost President
Truman the states of New York, Pennsylvania, and California, it was about time
that somebody should pay some consideration to whether we might not lose the
United States. Israeli actions over the past 53 years involving U.S. interests
in the Middle East seriously challenge the "strategic asset" premise
of the Israeli lobby. Some of these actions are compiled in the list that
follows: ’ ] Netanyahu
lays out vision for Mideast peace (WP) [
Vision? Don’t make me laugh! The guy’s blind; and a ward and provocateur at
america’s substantial cost and detriment. ]
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
7
Market Hazard Signs Traders Have Been Ignoringat Minyanville / Erik Swarts May
27, 2011 ‘…
1. I have repeatedly heard and read to the same effect, "the market is
hanging in there, considering...(x y z)." While that is certainly the case
broadly speaking, the market has a way of distracting your attention from where
it should be focused most. .. however, the market's technical structure
typically trumps sentiment (unless it is at a statistical extreme such as in
March 2009) over time. If anything, the fact that the market is "hanging
in there" on a relative basis could actually portend a more serious
underlying condition indicative of distribution. Distribution by institutional
participants can create broadening top formations in the indices and erratic
sentiment surveys by the swinging price action.
2. A major momentum darling has crashed and burned with silver. Silver's
historic decline, coupled with a very shallow bounce, is bearish toward risk
returning to the same degree of indiscrimination it represented before it broke
down. You could even speculate that the tepid action in stocks
like Apple (AAPL)
over the past six months was a precursor to the diminishing influence on the
risk/momentum continuum.
3. The indices all broke their respective 50-day moving averages this week. ..
4. Ignoring the symmetry and historical context in the two charts below would
be Pollyannish at best, irresponsible to risk at worst. Furthermore, knowing
what we now know about the developments in Europe and the risks they have going
forward -- specifically over the next few weeks in Spain and Greece -- their
respective influences to the commodity and equity
markets could be strongly reinforcing…
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchMAY2011/ignition1.jpg
5. The government bond market continues to confuse even the King's wishes. The chart below shows the relative
disconnect ..should not be ignored or passed off as insignificant. ..
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchMAY2011/ignition2.jpg
6. Weekly economic data surveys have taken a turn negative. ..
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchMAY2011/ignition3.jpg
7. The market has respected my monthly meridian chart to the tick. If May
continues to follow course away from the meridian at 1363, the summer months
could see an acceleration
to the downside.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchMAY2011/ignition4.jpg
Overall, I'm skeptical to hanging onto long positions for anything more than a
bounce here and feel more comfortable on the short side of the market…’
7
Market Hazard Signs Traders Have Been Ignoringat Minyanville / Erik Swarts May
27, 2011 ‘It's been said that the market
is hanging in there, but the market has a way of distracting your attention
from where it should be focused most. As
a trader who relies on the qualitative art form that is appraising market
psychology, I have been collecting some interesting anecdotes and observations
from the field. Specifically, traders seem to be ignoring some of the more
readily apparent hazard signals the market has been throwing off in the past
month.
1. I have repeatedly heard and read to the same effect, "the market is
hanging in there, considering...(x y z)." While that is certainly the case
broadly speaking, the market has a way of distracting your attention from where
it should be focused most. The rampant attention and bipolar swings in investor
sentiment surveys appear to be the illusion of choice in declaring the waters
safe for the return of risk.
I believe there is some utility in knowing where the sentiment vane is pointing
over the very short term, however, the market's technical structure typically
trumps sentiment (unless it is at a statistical extreme such as in March 2009)
over time. If anything, the fact that the market is "hanging in
there" on a relative basis could actually portend a more serious
underlying condition indicative of distribution. Distribution by institutional
participants can create broadening top formations in the indices and erratic
sentiment surveys by the swinging price action.
2. A major momentum darling has crashed and burned with silver. Silver's
historic decline, coupled with a very shallow bounce, is bearish toward risk
returning to the same degree of indiscrimination it represented before it broke
down. You could even speculate that the tepid action in stocks
like Apple (AAPL)
over the past six months was a precursor to the diminishing influence on the
risk/momentum continuum.
3. The indices all broke their respective 50-day moving averages this week.
Today's action should be interesting, considering they are all siting directly
beneath them after retracing the break.
4. Ignoring the symmetry and historical context in the two charts below would
be Pollyannish at best, irresponsible to risk at worst. Furthermore, knowing
what we now know about the developments in Europe and the risks they have going
forward -- specifically over the next few weeks in Spain and Greece -- their
respective influences to the commodity and equity
markets could be strongly reinforcing.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchMAY2011/ignition1.jpg
5. The government bond market continues to confuse even the King's wishes. The chart below shows the relative
disconnect over the past year. This chart should be qualified, in that yields
have been in a downtrend relative to the SPX for almost three decades. With
that said, the degree of yield erosion relative to the SPX over the past two
months should not be ignored or passed off as insignificant.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchMAY2011/ignition2.jpg
6. Weekly economic data surveys have taken a turn negative. Whether revealed in
the most recent weekly unemployment trends or decelerating GDP,
the market is facing an ever more hostile headline risk environment. I
typically shy away from incorporating economic data surveys into my short-term
calculus because their correlations are erratic at best. But considering the
backdrop, it can pay off with timing. Next week will provide the important ISM
manufacturing index. Below is a chart of the Empire, Philly & Richmond
surveys overlaid on the ISM survey. As the correlations have shown, the already
received EPR surveys indicate the ISM will likely be quite weak. The degree of
which could be a catalyst (both positive or negative) in the market.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchMAY2011/ignition3.jpg
7. The market has respected my monthly meridian chart to the tick. If May
continues to follow course away from the meridian at 1363, the summer months
could see an acceleration
to the downside.
http://image.minyanville.com/assets/FCK_Jan2011/Image/LisaCatchMAY2011/ignition4.jpg
Overall, I'm skeptical to hanging onto long positions for anything more than a
bounce here and feel more comfortable on the short side of the market. That
could all change in an instant, and I try to never limit myself from trading
the flip side as revealed by my agnostic trading approach.
Remember, these are just my notes -- I trade what I see in the tape.
Editor's Note: This article was originally
posted on Market Anthropology.’
Global
Stock Seasonality: Tout Le Monde Vendez en Mai Forbes / Sy Harding ‘When investors think of the stock market’s
annual seasonality, as expressed by the adage ‘Sell in May and Go Away,’ they
usually relate it to the U.S. market.In fact, the historical pattern of
stock markets making most of their gains in the winter months, and experiencing
most of their bear market declines and corrections in the unfavorable summer
months, is also common in global markets.Since investors have become much more
comfortable with investing in global markets in recent years, in fact have
poured money into emerging markets at a record pace, recognition that the
seasonal pattern is global is potentially of considerable importance,
especially this year.A 27-page academic study conducted at the Rotterdam School
of Management in the Netherlands and published in the American
Economic Review in 2002,
concluded, “Surprisingly we found this inherited wisdom of Sell in May
to be true in 36 of 37 developed and emerging markets. Evidence shows that in
the United Kingdom the seasonal effect has been noticeable since 1694. . . . A
trading strategy based on this anomaly would be highly profitable in many
countries. The average annual risk-adjusted outperformance ranges between 1.5%
and 8.9%, depending on the country being considered. The effect is robust over
time, economically significant, unlikely to be caused by data-mining, and not
related to taking excess risk.”Stock markets outside of the U.S. seem to be significantly in the lead
on the downside in this unfavorable season. For instance, the S&P 500 is
only 2% below its recent top on April 29, the last trading day of April
(potentially in keeping with the ‘Sell in May and Go Away’ rule to sell on May
1).However, in the rest of the world quite serious stock market corrections are
underway. The important markets of China (the world’s 2nd largest
economy), Japan (the world’s 3rd largest economy), Hong Kong, India,
Brazil, and Russia are already down an average of 12% from their recent peaks,
and have broken down through key support levels, including their long-term
200-day moving averages. Other important markets, including Mexico, Canada,
Britain, France, and South Korea have already broken down through key
intermediate-term support levels, including their 20-week moving averages.That
global markets are so far ahead of the U.S. market on the downside leads me to
believe they will become oversold first and perhaps be the first to bottom and
turn back up when the time to buy arrives again.Meanwhile, the studies of
seasonality point out that a seasonal investor outperforms the market over the
long-term (occasional years when it does not work notwithstanding), while being
at risk in the market only six months each year, and moving to cash for the
other six months.They do not take into consideration the additional gains the
seasonal investor can make in the unfavorable season in areas other than
cash.To name a few; bonds, gold, and currencies often move independent of the
direction of the stock market, and can rally when the stock market is in a
decline. And all are easy enough for investors to take advantage of via mutual
funds, and even more efficiently via ETFs (exchange-traded-funds).If seasonal
investors are fluent in market analysis, particularly technical analysis, which
can help define when an unfavorable season will not just be a ‘dead zone’ but
will probably see a substantial correction, significant gains can be made from
the downside even faster than from the previous rally period. That’s because
when the market goes down it tends to go down much faster than it went up,
often losing a year of previous gains in a matter of a few months.And holdings
are available to harness the power of such market declines, including ‘inverse’
mutual funds and ‘inverse’ ETFs, which are designed to move opposite to a particular
market or market sector.In my opinion then, the U.S. market has some catching
up to do on the downside, while selected global markets, considerably ahead of
the U.S. market on the downside, are liable to bottom first and provide the
earliest buying opportunities.In the interest of full disclosure, I and my
subscribers have some recent new positions in a bond ETF, a currency ETF, and
selected inverse ETFs against the U.S. market.’
End-of-Month
Window Dressing: Dave's Daily at
TheStreet.com ‘The U of Michigan Consumer Sentiment Index was
cherry-picked by bulls as the indicator upon which to rally stocks Friday. But,
frankly is it really a valid measure of current consumer attitudes? I don't
think so given it's weighted heavily by stock prices and curiously by gasoline
prices. With the latter, a one week ten cent drop in prices hardly makes a
trend. Some had the nerve to say consumers were now getting accustomed to
higher gas prices. How about you? Consumer
Metrics Institute's opinion and conclusion is as follows:
http://www.thestreet.com/tsc/daves/052711/image002.jpg
"The levitation
effect provided by the Federal fiscal stimulus packages will begin to wilt
soon, as will Mr. Bernanke's monetary magic when QE-2 lapses in June. At some
point in time the GDP will revert to tracking the 70% of the economy provided
by consumer spending. When that happens, the glaring gap in the above graph
will close, and most likely with the upper line converging towards the lower,
rather than the other way around. We have said before that our consumers seem
to know that the headline recovery in the S&P 500 has not yet been
fully shared with the them, their neighbors or their local merchants. Until
unemployment materially decreases and the residential housing market returns to
at least pre-2005 levels of activity, the "Great Recession" isn't
over, despite what the National Bureau of Economic Research (NBER) would have
us believe." Other data this week was just awful. And, Pending Home Sales
on Friday dropped by 11% which was much worse than expected. If higher stock
prices buoy consumer sentiment, what about poor housing data? The disconnect is
extraordinary. Most major equity index related ETF were able to claw out of
most negative readings to close the week either unchanged or plus/minus a small
amount. Most of this was accomplished on very weak volume but with a heavy
assist of QE2 ($30 billion over the last 5-7 trading days). This is
the magic dust for bulls. The tape's action is reality but the action behind
the curtain is hollow and comprised of free money from on high. Nevertheless,
most indexes may close the month down with only one day left to trade. Our
DeMark monthly sequential 9 counts may have already made their impact as QE2
has another month to run and will compete with it …’
S&P Stuck in a Rut - Why and Where Will it Break? , On Thursday May 26, 2011
‘This entire week the S&P has been stuck in a rut. Aside from a few brief
spikes outside its trading range, the S&P has been sluggish and moved with
the velocity of molasses.
The Memorial Day
Lull
Part of the reason is
the upcoming Memorial Day weekend. Trading before the Memorial Day weekend
tends to be lackluster and uninspired, but come Tuesday (markets are closed on
Monday) volatility (Chicago Options: ^VIX) is likely to increase.The holiday
weekend is just part of the story though. There are other compelling reasons
why trade is so frustratingly sluggish.
Compelling Reason
to be Dull
The ETF Profit Strategy
Newsletter's technical forecast for the week ahead stated that: 'The initial
downside from the May 2 high may not be finished yet, but it appears to be
limited. If the lower trend line at 1,325 is broken, we are looking for lower
prices but are mindful that various support levels should keep downside action
contained.'The S&P dropped below the 9-month trend line support first thing
Monday morning, but didn't really go anywhere thereafter. Such a trend line
breach is usually significant, but it wasn't, at least not thus far.The chart
below shows why downside momentum didn't increase. The ETF Profit Strategy
Newsletter pointed out this month's and week's pivot support (s1 to be precise)
at 1,319 and 1,317. As you can see, the S&P has stuck to s1 like gum to
shoe.What are pivots, you may ask? Pivot points are determined as the average
of the previous sessions trading range combined with the closing price. The
numbers for support and resistance that are calculated indicate the potential
ranges for the next time frame based on the past weight of the market's
strength or weakness.Pivots are fractal and can be calculated for various time
frames. I usually pay attention to weekly and monthly pivots.
http://www.etfguide.com//contributor/UserFiles/8/Image/article%20new%205%2026%2011.gif
The blue lines in the
chart illustrate the 20 and 50-hour simple moving averages (SMAs). Since
Wednesday, the S&P has been sandwiched between the two. As you can see,
there is plenty of technical reason for the current trading range.
Where Will it
Break?
Every trading range ends
eventually. Often such range bound churning and indecision precedes significant
moves and serves as a springboard. There is certainly a distinct seasonal
post-Memorial Day bias that supports this notion.Once this trading range is
broken, the focus moves on to the next support or resistance. Next resistance
to the up side is 1,325, a Fibonacci projection level. Look at the chart and
you will see how attempts to move beyond 1,325 were thwarted on Wednesday and
earlier today. A break above 1,325 would open the door to higher
prices.Fibonacci levels are powerful trading tools and should not be dismissed.
One important Fibonacci level the ETF Profit Strategy Newsletter isolated as
target and resistance in April was 1,369.The importance of this level was
confirmed on May 1, when the newsletter recommended shorting the S&P
against 1,369. The S&P topped the very next day at 1,370 and declined as
much as 50 points thereafter.The ETF Profit
Strategy Newsletter provides the most important short and long-term
support/resistance levels and seasonal tendencies every Sunday and Wednesday,
along with directional advice and the corresponding trading strategies.ETFs
that track the S&P 500 include: S&P 500 SPDR (NYSEArca: SPY - News), iShares S&P 500 (NYSEArca: IVV - News), Vanguard S&P 500 (NYSEArca: VOO - News).Value and Growth S&P ETFs include:
iShares S&P 500 Value (NYSEArca: IVE - News), iShares S&P 500 Growth (NYSEArca: IVW - News), Vanguard S&P 500 Value ETF (NYSEArca:
VOOV - News), Vanguard S&P 500 Growth ETF
(NYSEArca: VOOG - News).Leveraged S&P ETFs include: Ultrashort
S&P ProShares (NYSEArca: SDS - News), Ultra ProShares (NYSEArca: SSO - News), UltraPro S&P ProShares (NYSEArca: UPRO - News), UltraPro Short S&P ProShares
(NYSEArca: SPXU - News).’
The Week Ahead: Can Stocks Climb the Wall of Worry? Forbes / Tom
Aspray ‘Last week’s financial headlines may have caused many stock investors to
run for the exits, as there was very little to make one think that stocks could
move higher. Here is a sampling:
Despite the concerns
over debt contagion, a double dip in the economy, and slower growth in China,
the US stock market was surprisingly strong. The early-morning declines on Wednesday
and Thursday were met with good demand.
Therefore, even though
the major averages made new correction lows, the market had plenty of reasons
to drop more sharply. For most of the week, Tuesday’s headline from the Financial Times, “Investors swept up in
wave of bearishness,” said it all.
So even though the stock
market was not as strong as I had forecast last week, I am sure most were
surprised that it closed higher. Sentiment measures continue to get more
negative, with only 25% bullish in a recent AAII survey. This is the lowest
reading since last summer.
Last week’s pending home
sales dropped 11%—but new home sales were stronger than expected, giving some
home builders a boost. On Tuesday, we get more housing data, as the S&P
Case-Shiller price index will be released along with consumer-confidence
numbers.
Of course, this is
another jobs week, with a preliminary reading Wednesday from the ADP Employment
Report, followed by jobless claims Thursday and the monthly employment report
on Friday. Also out Wednesday is the ISM Manufacturing Index, with the ISM
Non-Manufacturing following on Friday.
As the headlines show,
there are still plenty of problems facing the Eurozone, and the Strauss-Kahn
scandal has not helped—the BRIC countries, among others, are not in favor of a
new IMF head from the Eurozone. Also, as my colleague Jim Jubak suggests, “Another
Quick Fix For Greece” is likely.
Euro investors have also
been moving away from risk, as the yields on German debt have dropped 3%,
matching similar yield declines in both the UK and the US. Nevertheless, the DJ
STOXX Europe 600 was able to close the week well above the lows, as it tested
strong support in the 272 to 274 area early in the week.
Commodity prices have
bounced nicely from the mid-month lows, and the strength in copper may be a
sign that the economy is really stronger than most expect. Crude oil has
bounced from the recent lows, but is now hitting first strong resistance.
Technically, this rally looks as though it will be followed by a further
decline.
Page 2 of 3)
WHAT TO WATCH
As I noted in more detail before Friday’s opening, the technical and sentiment
picture for the stock market had improved. The positive action Friday supports
this view, even though the major averages closed below their best levels.
http://graphics.moneyshow.com/investing/Guru/Gurus052711_1_med.gif
Click to Enlarge
S&P 500
The Spyder Trust (SPY) tested its downtrend (line a) on Friday, and still has
strong resistance at $135.36. A daily close above this level should confirm
that the correction is over. A test of the May 2 highs at $137.18, if not a
move to the $138.50 area, is still a distinct possibility.
The low for SPY at
$131.38 is now the critical level, with the daily uptrend (line c) now at
$130.50. If this level is violated, the April lows are at $129.51 (line b).
The S&P 500 A/D line
has turned up, and is very close to breaking its downtrend. It did make new
highs in May, and is still well above long term support (line d).
Dow Industrials
The Diamonds Trust (DIA) also appears to have completed a short-term bottom,
but is slightly lagging the SPY. DIA has just filled the gap from last Monday’s
opening. There is still a strong band of resistance in the $126.50 to $127.50
area.
The support level to
watch now for DIA is $122.80, while the April low and major support follows at
$120.65.
Dow Transportations
The Dow Transportation Index held above the prior week’s low at 5,311, and did
close last week higher.
A close above 5,500 is
needed to complete the correction and signal a rally to new highs in the 5,650
to 5,700 area.
If one of the other
major averages is able to exceed the May highs, and the Transports fail to make
a new high, it would be a warning sign.
Nasdaq-100
I have been looking for the PowerShares QQQ Trust (QQQ) to lead the market on the next rally, but it has
continued to lag. It will now take a much stronger rally for QQQ to take over
leadership.
The first hurdle is the
resistance in the $58.50 area with major at $59.34 area.
The down gap last Monday
violated the support in the $57 area as QQQ hit a low of $56.47 which weakened
the short term outlook. There is now important support below $56.
Russell 2000
The iShares Russell 2000 Trust (IWM) has concerned me for several months, and last week it
dropped below the April lows. This is a further sign of weakness, and as I
noted several weeks ago the A/D line on the Russell 2000 failed to make a new
high with prices in April.
The rebound in IWM is
likely to fail in the $85 to $85.50 area, even if the SPY makes new highs.
Therefore, the current rally should be used as an opportunity to move out of
both small and mid-cap stocks.
Once below the recent
lows at $80.76, the next major support is in the $77.50 to $78 area.
Here’s
Why Pending Home Sales Plummeted in April Wall St. Cheat Sheet May 27,
2011 ‘According to the National Association of Realtors , The Pending Home Sales
Index (PHSI) , a forward-looking indicator, dropped 11.6 percent to 81.9 in
April, down from 92.6 in March. The number is down 26.5 percent from a peak
111.5 in April 2010 when buyers were rushing to meet the deadline for the home
buyer tax credit.This data reflects contracts, but not closings, which usually
don’t occur until a month or two after contracts are signed.The news hasn’t
done much for real estate stocks (NYSE:IYR), down 0.06% today, but might be responsible for
the 0.86% hike in home builders stocks (NYSE:XHB).While the PHSI in the Northeast actually rose
1.7% to 64.5 in April, it is still 33.4% below its figure for this time last
year. PHSI in the Midwest is down 10.4% to 74.1, down 30.2% from April 2010.
Pending home sales in the South dropped the most at a decline of 17.2% in
April, 27% below a year ago. Still, the PHSI for the South is 91.3,
significantly higher than that of other regions. In the West the index declined
8.9% to 89.1 and is 16.9% below April 2010 figures…’
Investing
in Precious Metals: Is Gold Worth Dying For? Wall St. Cheat Sheet May 27, 2011 ‘Thursday, gold (NYSE:GLD) and silver (NYSE:SLV) took a breather as the Dow (NYSE:DIA) and S&P 500 (NYSE:SPY) closed slightly higher. The markets seem
somewhat confused as the Greek debt crisis lingers on. In times of
uncertainty, investors often turn to gold as a place of refuge. However,
just how expensive is it to really obtain gold? Some gold miners (GLDX)
may find out the hard way.The medical condition known as silicosis could be a
potential problem for some gold miners. Silicosis is the scarring of the
lungs caused by extended exposure to the dust found in South African mines.
These mines are now run by companies such as Harmony Gold Mining (NYSE:HMY), Gold Fields Ltd. (NYSE:GFI), and AngloGold Ashanti Ltd. (NYSE:AU). These miners are now facing coming
lawsuits. HMY fell the hardest on the day, closing 3.57% lower.While the
total number of claims and size of judgements are nearly impossible to estimate
at this time, RBC Capital Markets claims the liability of mining companies
could reach as high as $100 billion. RBC reached this estimate by
assuming there are 300k claimants, each suing for at least 2 million rand.
The Constitutional Court said workers who qualified for state benefits
for occupational related disease, could also receive additional compensation
from their former mining employers.Gold Fields Ltd (NYSE:GFI) CEO Nicholas Holland said, “It’s
speculative at this stage to assume that there’s going to be a huge number of
suits or whether in fact those suits will even be successful.” Another
miner, Anglo American , is already involved in a silicosis suit that dates back
to 2004, and involves 18 miners (4 of the 18 have already died). The mines
today employ about 160k people, according to the Chamber of Mines.Investors
willing to overlook the lawsuits may want to consider the following ETFs and
stocks: iShares Silver Trust (NYSE:SLV), PowerShares DB Silver Fund (NYSE:DBS), ProShares Ultra Silver (NYSE:AGQ), First Majestic Silver Corp. (NYSE:AG), SPDR Gold Trust (NYSE:GLD), Market Vectors Etf Trust (NYSE:GDX), or Barrick Gold Corporation (NYSE:ABX).Investors who are bearish in precious metals, or
simply looking for a hedge, may find the following stocks, ETFs, and ETNs
interesting: ProShares UltraShort Silver (NYSE:ZSL), PowerShares DB Gold Short ETN (NYSE:DGZ), or PowerShares DB Gold Double Short ETN (NYSE:DZZ).For more analysis and guidance in the white hot
precious metals sector, consider
a free 14-day trial to our acclaimed Gold & Silver Investment Newsletter.’
Entitlements:
4 Things You Must Know Now – with Gerri Willis Wall St. Cheat Sheet May 27, 2011 ‘Entitlements have become a big issue now
that the
US has a major debt problem and a record number of boomers are expected to
retire in the coming years. I caught up with Fox Business anchor Gerri Willis
to get a Cheat Sheet for the hot button entitlement issue:
Damien Hoffman: Gerri,
what are entitlements?
Gerri Willis: Simply
put, entitlements are government payouts. Normally we think of Social Security,
Medicare and Medicaid when we say entitlement. Most Americans feel that getting
benefits from these programs is a right because they’ve paid into them.
Corporate America is on the federal dole, too, at times, most recently when
banks (NYSE:XLF) and auto companies such as General Motors (NYSE:GM) were bailed out during the financial crisis.
Currently, Congress is
debating how to fix the overspending in Social Security, Medicare and Medicaid.
The problem with these programs is that they’ve morphed from temporary or
short-term safety nets into permanent floors that people rely on. As a result,
the costs of these programs is swamping the
federal budget.
Damien: How much are we
spending on entitlements?
Gerri: Entitlement
spending is the vast majority of our federal
budget and growing every year. This year alone spending on Social Security,
Medicare and Medicaid will account for 57 percent of all federal outlays, and
the spending level is 5.4 percent higher than last year.
Damien: Can we continue
to support those three programs at this level?
Social Security,
Medicare and Medicaid are in big trouble. Social Security will run out of money
in 2036; Medicare in 2024. Already both programs are running a deficit right
now. Social Security has a deficit of $46 billion and Medicare has $80 billion
in red ink.
Damien: Gerri, in your
opinion, what do you think future legislation dealing with this issue will look
like?
Gerri: I believe we’re
going to have to wait awhile for reform. Congress has always been wary of the
third rail of politics and with elections approaching in 2012, they are wary of
tackling anything as controversial as entitlement reform right now. However,
there does seem to be some consensus building for change. Many folks seem to
agree that the age that Social Security recipients receive benefits should be
moved higher, others say that Medicare shouldn’t be available to the very
wealthy or that their benefits should be scaled back in some way. Even
implementing both of those ideas won’t fix the problems we are facing; however,
a more dramatic change is needed to avoid pushing our country into a more
desperate financial crisis.
FOX Business Network wraps up “Entitlement Nation: Makers
vs. Takers” on Friday, May 27th, 2010.
Don’t Miss: CHART
OF THE DAY: Watch the US Debt Set a 60 Year Record. ‘
EVERYTHING
RISES AND THE DIP IS BEING BOUGHT: Here's What You Need To Know Business Insider May 27, 2011 ‘The
week has clearly ended on a positive note, although we've now seen four
straight weeks of declines.
But first, the
scoreboard:
Dow: +37.20
NASDAQ: +5.26
S&P 500: +5.26
And now, the top
stories:
Global
Economic Rebound Weakens on Quake, Oil Price, European Debt Crisis Bloomberg | World economy has entered
a softer patch with the incoming growth data mostly disappointing.
Marc Faber:
Prepare for Another War Jonathan
Chen | From 2002-2008, Greenspan and Bernanke have created
massive bubbles.
20
Questions To Ask Anyone Foolish Enough To Believe The Economic Crisis Is Over
The Economic Collapse |
We are still in the middle of a full-blown economic crisis and things are about
to get even worse.
Competing
plans on job growth Obama and Congressional Republicans hope to cut the
cost of doing business for U.S. firms. White
House wants to simplify rules (Washington Post) [ Plans? Is that it? Costs?
For the foreseeable future that counts, the logical conclusion will invariably
be, based on costs and prior misguided decisions (you still remember Perot),
ship them overseas, outsource, outsource, outsource … even Apple does that in a
big way while still getting premium prices (as if made is usa). No … you can’t
unring the bell on their ill-fated, but collectively culpable missteps. But, this
plan of theirs, my recollection is that’s what they’ve been purportedly doing
for the last several election cycles spanning well over a decade. Oh,
riiiiight! It’s that time of the season again … election time. Despite the
rhetoric and spin, the scenario remains dismal … the grim economic
reality [ http://albertpeia.com/grimreality.htm Jobless
Claims Rise 10,000 First
Quarter GDP Stalls Nothing
New In GDP Update, U.S. Grew At 1.8% In Q1
[ Economic data bad and worse than expected … stocks rally on the worse
than expected news 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Poll:
For Obama, low marks on Afghan war (WP) Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. … an especially great opportunity to sell /
take profits while you still can since there's much worse to come! America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog/ Selling
In May Is Very Good Advice This Year Harding / Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
This is an especially
great opportunity to sell / take profits while you still can since there's much
worse to come! Remember: ‘Sell in May and go away! ‘ … Stock
Market: 4 Current Warning Signs
Navin ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy,
it’s never been higher. Yes, it’s normal for insiders to be selling some of
their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart. ]
20
Questions To Ask Anyone Foolish Enough To Believe The Economic Crisis Is Over The Economic CollapseMay 26, 2011 | We
are still in the middle of a full-blown economic crisis and things are about to
get even worse.
If you listen to Ben
Bernanke, Barack Obama and the mainstream media long enough, and if you didn’t
know any better, you might be tempted to think that the economic crisis is long
gone and that we are in the midst of a burgeoning economic recovery.
Unfortunately, the truth is that the economic crisis is far from over. In
2010, more homes were repossessed than ever before, more Americans were on food
stamps than ever before and a smaller percentage of American men had jobs than
ever before. The reality is that the United States is an economic basket
case and all of these natural disasters certainly are not helping things.
The Federal Reserve has been printing gigantic piles of money and the U.S.
government has been borrowing and spending cash at a dizzying pace in an
all-out effort to stabilize things. They have succeeded for the moment,
but our long-term economic problems are worse then ever. We are still in
the middle of a full-blown economic crisis and things are about to get even
worse.
If you know someone that
is foolish enough to believe that the economic crisis is over and that our
economic problems are behind us, just ask that person the following questions….
#1 During the 23 months of the “Obama recovery”, an
average of about 23,000
jobs a month have been created. It takes somewhere in the
neighborhood of 150,000 jobs a month just to keep up with population
growth. So shouldn’t we hold off a bit before we declare the economic
crisis to be over?
#2 During the “recession”, somewhere between 6.3
million and 7.5 million jobs were lost. During the “Obama recovery”,
approximately 535,000 jobs have been added. When will the rest of the
jobs finally come back?
#3 Of the 535,000 jobs that have been created during
the “Obama recovery”, only
about 35,000 of them are permanent full-time jobs. Today, “low income jobs”
account for 41 percent of all jobs in the United
States. If our economy is recovering, then why can’t it produce large numbers
of good jobs that will enable people to provide for their families?
#4 Agricultural commodities have been absolutely
soaring this decade. The combined price of cotton, wheat, gasoline and
hogs is
now more than 3 times higher than it was back in 2002. So how in the
world can the Federal Reserve claim that inflation has been at minimal levels
all this time?
#5 Back in 2008, banks had a total of 27 billion
dollars in excess reserves at the Fed. Today, banks have a total of
approximately 1.5 trillion dollars in excess reserves at the Fed. So what
is going to happen when all of this money eventually hits the economy?….
#6 If the U.S. economy is recovering, then why are
shipments by U.S. factories still substantially
below 2008 levels?
#7 Why are imports of goods from overseas growing much
more rapidly than shipments of goods from U.S. factories?
#8 According to Zillow, the average price of a home in
the U.S. is about 8 percent lower than it was a year ago and that it continues
to fall about 1 percent a month. During the first quarter of 2011, home values
declined at the fastest rate since
late 2008. So can we really talk about a “recovery” when the real
estate crisis continues to get worse?
#9 According to a shocking new survey, 54
percent of Americans believe that a housing recovery is “unlikely” until at
least 2014. So how is the housing industry supposed to improve if so many
people are convinced that it will not?
#10 The latest GDP numbers out of Japan are a complete
and total disaster. During the first quarter GDP declined by
a stunning 3.7 percent. Of course I have been saying for months that the
Japanese economy is collapsing, but most mainstream economists were
absolutely stunned by the latest figures. So will the rest of the world
be able to avoid slipping into a recession as well?
#11 Next week, Republicans in the House of
Representatives are going to allow a vote on raising the debt ceiling.
Everyone knows that this is an opportunity for Republican lawmakers to “look
tough” to their constituents (the
vast majority of which do not want the debt ceiling raised). Everyone
also knows that eventually the Republicans are almost certainly going to cave
on the debt ceiling after minimal concessions by the Democrats. The truth
is that neither “establishment Republicans” nor “establishment Democrats” are
actually serious about significantly cutting government debt. So why do
we need all of this political theater?
#12 Why are so many of our once great manufacturing cities being transformed into hellholes? In the city of Detroit today, there are over 33,000 abandoned houses, 70 schools are being permanently closed down, the mayor wants to bulldoze one-fourth of the city and you can literally buy a house for one dollar in the worst areas.
#13 According to one new survey, about half of all Baby Boomers fear that when they retire they are going to end up living in poverty. So who is going to take care of them all when the money runs out?
#14 According to the U.S. Bureau of Labor Statistics, an average of about 5 million Americans were being hired every single month during 2006. Today, an average of about 3.5 million Americans are being hired every single month. So why are our politicians talking about “economic recovery” instead of “the collapse of the economy” when hiring remains about 50 percent below normal?
#15 Since August, 2 million more Americans have left the labor force. But the entire period from August to today was supposed to have been a time of economic growth and recovery. So why are so many Americans giving up on looking for a job?
#16 According to Gallup, 41 percent of Americans believed that the economy was “getting better” at this time last year. Today, that number is at just 27 percent. Are Americans losing faith in the U.S. economy?
#17 According to the U.S. Census, the number of children living in poverty has gone up by about 2 million in just the past 2 years, and one out of every four American children is currently on food stamps. During this same time period, Barack Obama and Ben Bernanke have told us over and over that the U.S. economy has been getting better. So what is the truth?
#18 America has become absolutely addicted to government money. 59 percent of all Americans now receive money from the federal government in one form or another. U.S. households are now receiving more income from the U.S. government than they are paying to the government in taxes. Americans hate having their taxes raised and they hate having their government benefits cut. So is there any hope that this will ever be turned around before disaster strikes?
#19 The combined debt of the major GSEs (Fannie Mae,
Freddie Mac and Sallie Mae) has increased from 3.2 trillion in 2008 to 6.4 trillion in 2011. How in the
world is the U.S. government going to be able to afford to guarantee all of
that debt on top of everything else?
#20 If the U.S. national debt (more than 14 trillion dollars) was reduced to a stack of 5 dollar bills, it would reach three quarters of the way to the moon. The U.S. government borrows about 168 million dollars every single hour. If Bill Gates gave every penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days. So how in the world can our politicians tell us that everything is going to be okay?
CIA
team to scrub bin Laden compound
EXCLUSIVE | Pakistan has agreed to let a forensics team in to use
sophisticated equipment to look for clues related to al-Qaeda in walls or
underground, a sign of cooperation between the two spy services. (Washington
Post) [ ‘To look for clues?’ Don’t make me laugh! How ‘bout to ‘plant clues’
consistent with their alternate ‘reality’(catapulting the propaganda, again and
now again, and really soaking the story) ; which of course is propagandized
fiction: | U.S. intelligence is that bin Laden needs dialysis every 3 days / http://whatreallyhappened.com/WRHARTICLES/osama_dead.php 5-1-11, JUST
MOMENTS BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED OSAMA BIN
LADEN, THE WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED DENIAL OF
SERVICE ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN ACTUALLY DIED
IN DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T WANT AVAILABLE
WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT IS POSSIBLE
THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A "REVENGE" ATTACK
FROM "AL QAEDA" ON THE UNITED STATES, WITH WHICH TO JUSTIFY TOTAL WAR
ON THE MIDDLE EAST… Davis ‘This is how
we pay off our current debts and I think bondholders are simply happy to get
anything out of a country that admits it owes $15Tn (1/4 of global GDP) but
probably owes closer to $60Tn (entire global GDP) in the form of unfunded
liabilities. The funniest thing about this (and you have to laugh) is to see
Conservative pundits get on TV and talk about how we need to cut $100Bn worth
of discretionary spending to "fix" this (while continuing to spend
$1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is
no fixing this and even a Republican said you can’t fool all of the people all
of the time.‘
Senate
Dems find themselves in a tough spot (WP) [ Tough spot? Like Iraq and a
hard place called Afghanistan [Pakistani
troops, NATO helicopters engage in firefight 6th
soldier charged in plot to kill Afghan civilians (WP) [ Gen. Hamid Gul: U.S. Generals Provoking War with Pakistan
Jones FLASHBACK: Editorial: US in
quagmire War
in Afghanistan and Iraq costs America $1trillion Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘ex-Justice official .. accused his
former employer of instructing attorneys in the civil rights division to ignore
cases that involve black defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
]
Krauthammer:
What Obama did to Israel (Washington Post) [ The fundamental problem with
Mr. Krauthammer’s non-sequitor illogic is the manner in which war crimes nation
israel came by those lands (war) and the numerous violations of u.n.
resolutions (ie., 242, 338, etc., and oslo accords, etc.), international law,
illegal nukes, war crimes (flotilla raid, etc.) since then. He thus becomes the
journalistic equivalent of what Pat Buchanan refers to as the ‘israeli amen
corner’ in congress. If only one could realistically ignore the detriment the
world and america have suffered as a direct consequence of this foreign policy
bent … Top
Democrats criticize Obama’s Israel policy
Now the president — whom critics often accuse of employing a
play-it-safe governing style in which he waits for others to take the lead — is
largely isolated politically in raising the issue of 1967 boundaries.
(Washington Post) [ What policy … to him, just words … more b***s*** . I’ve
thus far refrained from commenting on what I’ve anticipated to be ‘just more of
the same’; empty rhetoric. Pervasively corrupt, defacto bankrupt america makes
the wrong choice at every turn, ensuring in every way, decline and fall;
self-destructive, self-defeating. Make no mistake, and let me reiterate, that
substantially underrated President General Eisenhower would have put American
interests first and the current debacle would never have occurred in the first
instance … see, ie., http://albertpeia.com
, historical documentation, from website: http://www.ameu.org ‘Lest We Forget The Israeli lobby in
Washington has successfully influenced the U.S. Congress to give billions of
non-repayable dollars each year to Israel on the premise that Israel's loyalty
and strategic importance to the United States make it an ally worthy of such
unprecedented consideration. Is it ? In his Farewell Address, George Washington
warned Americans to avoid a passionate attachment to any one nation because it
promotes "the illusion of an imaginary common interest in cases where no
real common interest exists." In 1948, U.S. Secretary of Defense James
Forrestal, an opponent of the creation of a Jewish state in Palestine, warned
that, even though failure to go along with the Zionists might cost President
Truman the states of New York, Pennsylvania, and California, it was about time
that somebody should pay some consideration to whether we might not lose the
United States. Israeli actions over the past 53 years involving U.S. interests
in the Middle East seriously challenge the "strategic asset" premise
of the Israeli lobby. Some of these actions are compiled in the list that
follows: …’ ] Netanyahu
lays out vision for Mideast peace (Washington Post) [ Vision? Don’t make me laugh! The guy’s
blind; and a ward and provocateur at america’s substantial cost and detriment.
]
Choose Your Hathaway: Berkshire or Anne Sizemore May 26, 2011 ‘When the actress' name
is in the headlines, Berkshire Hathaway share prices rise, proof that
"robotrading" puts many investors at risk.’ ‘Given that algorithmic
trading now accounts for 70% of all trading, it’s not implausible. Sadly, this
is what the investment management profession has degenerated into.’ [ As to his
‘blood in the streets refeerence’ … sadly … coming to a theater ner you. ] [ I
just had to include this article, emphasizing the folly / fraud of wall street.
Well done! But butt buffet? Wall street shill, he ultimately goes out a buffoon
and fraud friend of wall street; a further sign of pervasively corrupt, defacto
bankrupt american decline. But, ‘puppy-dog-eyes’? How ‘bout ‘cat’s eyes’, as in
Catwoman. Don’t forget Chuck, ‘mnemonics’,
loosely speaking, are kind of like in a clichéd sort of way, that
‘double edged sword that cuts both ways’ … you know, ‘Tom Sizemore’ … are you
related? ] We’ve always admired Berkshire Hathaway (BRK-A) Chairman Warren
Buffett. He is, after all, the most successful investor in history and a legend
in his own time. Mr. Buffett’s annual reports are fountains of investment
wisdom that should be required reading in business
schools and for everyone in the money management profession.We’ve also had an
admiration for the Hollywood actress Anne Hathaway for many years, though we know
nothing of her investment acumen. Some readers of the Sizemore Investment
Letter might be interested to know that the 28-year-old Ms. Hathaway will be
starring in next year’s Batman movie, The Dark Knight Rises, as the
Catwoman. Berkshire Hathaway shareholders had better hope that her performance
generates its share of press. Their investment returns might depend on it.Yes,
dear readers, you read that correctly. As ridiculous as it might sound, the
price of Berkshire Hathaway’s (BRK-B) shares move in tandem with Ms. Hathway’s
film career. Consider what the Financial Times had to say on the matter:
Anne
Hathaway is young, beautiful and excels in soppy romantic comedies. But while
her puppy-dog-eyes bring tears to multiplexes worldwide, her performances are
now being watched in a less familiar quarter: Wall Street.
Traders barely noticed that the star of The Devil Wears Prada had hosted last
month’s Oscars, until blogger Dan Mirvish spotted an odd pattern: if Ms.
Hathaway is in the news, Warren Buffett’s Berkshire Hathaway stock jumps too.
Washington
area’s Asian population booms (Washington Post) [ This seems to foreshadow
that almost mythical, legendary, prospective ‘long march’ so heralded in
Chinese lore (at least the military’s) regarding the final conquest of
pervasively corrupt, defacto bankrupt, and rapidly declining america. I’d say
they’re watching ever more closely the ever more worthless american paper
they’re holding. Davis ‘This is how
we pay off our current debts and I think bondholders are simply happy to get
anything out of a country that admits it owes $15Tn (1/4 of global GDP) but
probably owes closer to $60Tn (entire global GDP) in the form of unfunded
liabilities. The funniest thing about this (and you have to laugh) is to see
Conservative pundits get on TV and talk about how we need to cut $100Bn worth
of discretionary spending to "fix" this (while continuing to spend
$1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is
no fixing this and even a Republican said you can’t fool all of the people all
of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
Senate
Dems find themselves in a tough spot (WP) [ Tough spot? Like Iraq and a
hard place called Afghanistan; indeed they are. [Pakistani
troops, NATO helicopters engage in firefight 6th
soldier charged in plot to kill Afghan civilians (Washington Post) [ Gen. Hamid Gul: U.S. Generals Provoking War with Pakistan
Jones | U.S. intelligence is that bin Laden needs dialysis every 3 days/ http://whatreallyhappened.com/WRHARTICLES/osama_dead.php 5-1-11, JUST MOMENTS
BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED OSAMA BIN LADEN, THE
WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED DENIAL OF SERVICE
ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN ACTUALLY DIED IN
DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T WANT AVAILABLE
WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT IS POSSIBLE
THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A "REVENGE" ATTACK
FROM "AL QAEDA" ON THE UNITED STATES, WITH WHICH TO JUSTIFY TOTAL WAR
ON THE MIDDLE EAST… FLASHBACK: Editorial: US in
quagmire War
in Afghanistan and Iraq costs America $1trillion Roche 'The worst part of it ...Obama, who vowed change, has done almost
nothing to fix any of it and in fact continues most of the policies that helped
get us here in the first place’ UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
]
Why
we read Palin’s tell-all The
underlying interest says something more primal than simply our fascination with
Mama Grizzly. (Washington Post) [ I’d say it’s more of a curious fascination
with the ‘new american dumb’. After all, who can deny the boost she got from
SNL’s Tina Fey’s impresarios highlighting same. Yet, in comparison with and
juxtaposed to the rest of the Washington field (mccain, bush, wobama, et als),
she’s got plenty of cover / camouflage. Send to a friendSarah Palin: Don't pick on Donald Trump
Politico - Even
though Donald Trump has wholeheartedly embraced the wall-to-wall media coverage
that's come with his promotion of the widely discredited “birther” issue, Sarah
Palin argued Tuesday that the press is treating him ... Trump's business success claims questioned CBS News ‘…Trump hotels and casinos in Atlantic City have
filed for bankruptcy protection three times. While Trump blamed market forces,
he has long been chairman of the board for the casino businesses.In his
defense, Trump said he "didn't run the company." Isikoff then asked
why he was paid $2 million per year to chair the board of that business. Trump
replied: "Excuse me. Because I'm a genius, okay."Trump said many
different businesses license the use of his name, but he's not directly
involved in their operations.Casinos have not been the only weakness in the
Trump empire. There have been many high profile bankruptcy filings, bad real
estate deals, and a trail of ongoing lawsuits accusing him of bad business
practices.Another questionable move was "Trump University," an
online, for-profit business education firm. The attorney general in Texas
ordered him to stop using the word "university" in its title. Trump
said his company was unaware of restrictions on the use of that word.Isikoff
also said he asked Trump if he thought the state of Hawaii was lying in regards
to Obama being born there, and he did not answer the question. In summation of
his experiences that qualify him to be President of the United States, Trump
told Isikoff: "My successes...have been vast. I don't even view myself as
having failures, and I certainly learned from things that don't work out as
well." ‘ As Trump rants, TV ratings slide Tampabay.com Parker:
The GOP plays a crazy Trump card (Washington Post) [ I don't know what polls
Ms. Parker's referring to; but unless she's referring to mobster trump
apprentice news (trump was fired from his own casino company), that certainly
doesn't comport with polls I've read. Moreover, like palin, trump's the joke
that keeps on giving (for SNL, late-night talk hosts, etc.) ...’ ]
Global
Economy Dying on the Vine Nyaradi ‘The global economy seems to be dying on the
vine as more news of economic slowdown pours in every day. The U.S. stock
market and ETFs continue to react negatively to deteriorating economic news
even as the Federal Reserve bought $6 Billion in their POMO operations
yesterday.The DJIA, S&P 500 and NASDAQ are all below their 50 Day Moving
Averages while the NASDAQ has also dropped below its 100 Day Moving Average.The
NASDAQ and DJIA are now on Point and Figure “Sell” signals, having experienced
a Bearish Catapult Breakdown at Tuesday’s close and now has a price target of
12,050.
http://static.seekingalpha.com/uploads/2011/5/25/saupload_djiapf052411.png stockcharts.com,
click to enlarge
… Richmond Federal Reserve
reported a severe drop in activity in the region as the report actually
contracted to -6 from a +10 in April. China’s Purchasing Manager’s Index declined, Japan
is back in recession and Belgium, one of the core countries in the eurozone was
issued a credit downgrade warning by the Fitch ratings agency. Spain’s bond premium to the
benchmark German Bund is back to January’s levels and Greek 10 Year Bonds are a whopping 17%
which is clearly unsustainable. Closer to home, Vice President Biden continues
to work with Congress towards what they’re labeling a $1 Trillion down payment to avert a
government shutdown in August and the Illinois State Treasurer says his state
is on the “verge
of financial disaster.” …’ ]
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Drudgereport: USA
HITS DEBT CEILING...
TREASURY
RAIDS PENSIONS...
PUTIN
DECIDES TO RETAKE PRESIDENCY
GALLUP:
Romney, Palin Lead GOP Field for 2012...
In
Obama's Hometown, Romney Criticizes Econ Policies...
Sends
Left-Over Pizza to Obama HQ...
Will
formally announce run on June 2...
'PATRIOT
ACT' CLEARS CONGRESS -- WILL BE SIGNED INTO LAW BY A
MACHINE...
60
DAYS: GOP senators press Obama on war powers...
Pile
of American debt -- would stretch beyond stratosphere!
House
members' stock market success suspect...
Congressional
bonuses handed out during budget crisis...
Loughner
removed from courtroom after outburst...
Found too american to stand trial...
Gold,
silver coins to be legal currency in Utah...
DAY
3: MORE TWISTERS...
At
least 14 more killed...
VIDEO...
Fresh Twisters Touch Down...
At
least 7 more killed...
Death
toll reaches 124 in Joplin; Deadliest in half century..
1,500 Reported Missing...
TORNADO
SWARMS DEADLIEST IN MORE THAN HALF CENTURY
HEARTLAND DEVASTATION...
116
dead, nearly 500 twister deaths this year...
VIDEO...
PHOTOS...
AUDIO
TERROR: 'I LOVE YOU ALL'...
'I'm
alive!' text message saves man's life...
1,500
rescuers work through pouring rain...
Threats of more to come...
Looting
in Minneapolis...
State
Treasurer Warns Bond Houses Against Further Loans to Illinois...
NYT:
'Is Anti-White Bias a Problem?'
[ … In what
some have called the new post-racial era, what constitutes discrimination is
shifting. The landmark Supreme Court case, Ricci
v. DeStefano, for example, ruled that white firefighters suffered
discrimination when their employer threw out a promotional exam because none of
the African-American firefighters who took the test qualified for promotion
…’ UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
UPDATE:
$24B in bailout paid to contractors who owe millions in taxes...
Palestinians:
netanayahu Speech is 'declaration of war'...
SUPREME
COURT ORDERS CA TO RELEASE UP TO 46,000 PRISONERS...
'Terrible things are sure to happen'...
JERRY
BROWN: 'Let's raise taxes!!!'
FEDS
SPEND MILLIONS STUDYING SHRIMP ON TREADMILLS?? 'GELATIN WRESTLING' IN
ANTARCTICA??
Zuckerberg
Shock: 'Only meat I'm eating is from animals I've killed myself'...
‘"The only meat
I'm eating is from animals I've killed myself," says the Facebook founder
and CEO. It's an odd
dietary direction for the 27-year-old Internet billionaire, but since he has
taken to killing goats, pigs and chickens, "I'm eating a lot healthier
foods. And I've learned a lot about sustainable farming and raising of
animals," he says. "It's easy to take the food we eat for granted
when we can eat good things every day." Zuckerberg's new goal came to
light, not surprisingly, on Facebook. On May 4, Zuckerberg posted a note to the
847 friends on his private page: "I just killed a pig and a goat."’
Global
Economy Dying on the Vine Nyaradi ‘The
global economy seems to be dying on the vine as more news of economic slowdown
pours in every day. The U.S. stock market and ETFs continue to react negatively
to deteriorating economic news even as the Federal Reserve bought $6 Billion in
their POMO operations yesterday.The DJIA, S&P 500 and NASDAQ are all below
their 50 Day Moving Averages while the NASDAQ has also dropped below its 100
Day Moving Average.The NASDAQ and DJIA are now on Point and Figure “Sell”
signals, having experienced a Bearish Catapult Breakdown at Tuesday’s close and
now has a price target of 12,050.
http://static.seekingalpha.com/uploads/2011/5/25/saupload_djiapf052411.png stockcharts.com,
click to enlarge
Yesterday’s economic
reports gave the stock market a quick boost at the open when new home sales
came in at +7.3% and an annualized rate of 323,000/year which still is at
severely depressed levels. But then, the Richmond Federal Reserve reported a
severe drop in activity in the region as the report actually contracted to -6
from a +10 in April. China’s Purchasing Manager’s Index declined, Japan is back
in recession and Belgium, one of the core countries in the eurozone was issued
a credit downgrade warning by the Fitch ratings agency. Spain’s bond premium to
the benchmark German Bund is back to January’s levels and Greek 10 Year Bonds
are a whopping 17% which is clearly unsustainable. Closer to home, Vice
President Biden continues to work with Congress towards what they’re labeling a
$1 Trillion down payment to avert a government shutdown in August and the
Illinois State Treasurer says his state is on the “verge of financial
disaster.” …’
Is the U.S. Worse
Off Than Europe? Maierhofer ‘… Deception and naive reporting are as
intertwined with the evolution of European dept woes as Feta cheese is to Greek
culinary culture. Rarely has this become more obvious than now. Luxembourg's Prime Minister didn't beat around the
bush: 'When it becomes serious, you have to lie.' You be the judge whether it
is more 'honorable' to omit, deceive, obstruct, misconstrue, or lie (purposely
or unintentionally). There are plenty of examples so we can make an educated
decision.You shouldn't throw stones if you are sitting in a glass house. This
is the case with the United States. The administration has engaged in all kinds
of maneuvers and financial alchemy to obstruct the truth and prevent free
market forces from expressing themselves. QE2 is the most famous example. Mr.
Bernanke is caught in his very own web of financial engineering side effects.
Preaching on one hand that QE2 was supposed to inflate assets and create a
wealth effect but denying that QE2 has caused wide spread food and energy
inflation. Another example is the 'adjustment' of accounting rule 157, demanded
and sanctioned by Congress. The 'new and improved' rule 157 allows banks
(NYSEArca: KBE) and financial institutions (NYSEArca: XLF) to omit hundreds of billions of toxic assets in an off
balance sheet bucket that doesn't affect earnings results …’
The
S&P 500's Lost Decade Short
‘Here is a new update of a chart that illustrates the total return performance
of the S&P 500 since the Tech Bubble closing high on March 24, 2000. The
chart shows the value of $1000 invested in the index, including dividends, but
excluding any taxes or fees, as of May 20th. I've also included the real value
using the Consumer Price Index for the inflation adjustment. http://static.seekingalpha.com/uploads/2011/5/25/saupload_sp500_total_20return_on_1000_invested_in_2000_thumb1.png
Click
for a larger image I calculated on the returns based on the daily price and
daily dividends interpolated from the quarterly dividends as reported by
Standard & Poor's. Thus the $1,070 nominal and $809 real values are the
hypothetical returns excluding any taxes or fees. For the sake of comparison
and to validate the calculation method, we can compare the nominal return in
the chart above to Vanguard's 500 Index Investor Fund (VFINX), which has had a return
of $1,057. Over the same timeframe The SPY ETF has returned $1,044.We're now
over eleven years beyond the S&P 500 2000 high. This little charting
exercise gives credence to the frequent reference to a "lost decade"
for investors. It also offers support for the wisdom of diversification across
asset classes.’
Top
Democrats criticize Obama’s Israel policy
Now the president — whom critics often accuse of employing a
play-it-safe governing style in which he waits for others to take the lead — is
largely isolated politically in raising the issue of 1967 boundaries.
(Washington Post) [ What policy … to him, just words … more b***s*** . I’ve
thus far refrained from commenting on what I’ve anticipated to be ‘just more of
the same’; empty rhetoric. Pervasively corrupt, defacto bankrupt america makes
the wrong choice at every turn, ensuring in every way, decline and fall;
self-destructive, self-defeating. Make no mistake, and let me reiterate, that
substantially underrated President General Eisenhower would have put American
interests first and the current debacle would never have occurred in the first
instance … see, ie., http://albertpeia.com
, historical documentation, from website: http://www.ameu.org ‘Lest We Forget The Israeli lobby in
Washington has successfully influenced the U.S. Congress to give billions of
non-repayable dollars each year to Israel on the premise that Israel's loyalty
and strategic importance to the United States make it an ally worthy of such
unprecedented consideration. Is it ? In his Farewell Address, George Washington
warned Americans to avoid a passionate attachment to any one nation because it
promotes "the illusion of an imaginary common interest in cases where no
real common interest exists." In 1948, U.S. Secretary of Defense James
Forrestal, an opponent of the creation of a Jewish state in Palestine, warned
that, even though failure to go along with the Zionists might cost President
Truman the states of New York, Pennsylvania, and California, it was about time
that somebody should pay some consideration to whether we might not lose the
United States. Israeli actions over the past 53 years involving U.S. interests
in the Middle East seriously challenge the "strategic asset" premise
of the Israeli lobby. Some of these actions are compiled in the list that
follows: …’ ] Netanyahu
lays out vision for Mideast peace (Washington Post) [ Vision? Don’t make me laugh! The guy’s
blind; and a ward and provocateur at america’s substantial cost and detriment.
]
Poll:
More fear U.S. debt than default
Whether or not Congress raises the debt limit, majority of Americans are
worried about the consequences. (Washington Post) [ How ‘bout all of the above! “Both
Parties And The White House Are Advocating A US Default” Zero Hedge | David Stockman, one of
the few voices of fiscal prudence, debated US insolvency.
David
Stockman: “Both Parties And The White House Are Advocating A US Default” Last
week David Stockman was on Tom Keene, making the usual media rounds (sometimes
we marvel at his patience and endurance), as one of the few voices of fiscal
prudence available to TV producers who seek to hold a balanced debate on the
topic of US insolvency.
Stop Raising the Debt
Ceiling Ron Paul |
When our creditors finally wise up and cut us off, we will be forced to face
economic realities whether we want to or not.
Harry
Dent: “Major Crash” Coming for Stocks, Commodities Already Topping Out Market Downturn Approaching; Go Long the Ultra Shorts? White ‘.. consistently bad
economic .. Following is a brief list (mostly from Yahoo Finance‘s Economic
Calendar) of troubling news: …1-20…’ This is an especially great opportunity to
sell / take profits while you still can since there's much worse to come!
Remember: ‘Sell in May and go away! …
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009…’
Market Downturn Approaching; Go Long the Ultra Shorts? White ‘It is time to worry about a market downturn. There
has been almost consistently bad economic news reported in the U.S. in the last
week. Following is a brief list (mostly from Yahoo Finance‘s Economic Calendar)
of troubling news:
Libya:
Increased Airstrikes, Ground Troops, Contractors, Civilians Killed, Deadly DU
Munitions – Can We Call This A War Yet? The globalist
coalition refers to it as ‘kinetic military action’, yet as more civilians are
killed in NATO bombings, and with experts adamant that deadly Depleted Uranium
weapons are being used by Western forces, the conflict in Libya looks a hell of
a lot like the occupations of Afghanistan and Iraq all over again.
63
percent of people killed in Iraq war were civilians: report Xinhua
| U.S.-led wars in Iraq and Afghanistan have been
causing huge civilian casualties.
]
Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development (click to enlarge images):
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! Remember: ‘Sell in May and go away! …
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png
1Q
bank profits up, revenue down
Profits in the first quarter were the best in four years, but the
industry isn’t back on its feet yet. (Washington Post) [ ‘Simple trick’ that you’re paying for
whether you like it or not … ie., Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money—‘ … America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued …only
time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009…’
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Agents
irked by plan to keep Mueller
(Washington Post) [ ‘abide by ..
tenure limits’ ? I’m more concerned with, and it’s fundamentally more important
from the perspective of the FBI’s ‘mission and purpose’, that meaningful law be
abided by regarding the following:
October 15, 2010 (*see infra)
Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom
autorun disk (which will open in your computer’s browser) as per your office’s
request as made this day (the disk and contents have been scanned by Avast,
McAfee, and Norton which I’ve installed on my computer to prevent viral attacks
/ infection and are without threat). I also include 1 copy of the DVD as filed
with the subject court as referenced therein (which files are also included on
the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil)
RICO action (as you’re aware, the RICO Act is a criminal statute which provides
a civil remedy, including treble damages and attorney fees, as an incentive for
private prosecution of said claims probably owing to the fact that the USDOJ
seems somewhat overwhelmed and in need of such assistance given the seriousness
and prevalence of said violations of law which have a corrupting influence on
the process, and which corruption is pervasive). A grievance complaint against
Coan was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the
horizontal rule are the referenced documents as filed. (Owing to the damage to
the financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I
would absent resolution seek to refer the within to a firm with expertise in
that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5
pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman
by way of email attachment (apparent but typical problem with my mail) along
with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm .
With regard to the calls to the FBI’s LA and New Haven, CT offices:
There was one call to the LA office and I was referred to the Long Beach, CA
office where I personally met with FBI Agent Jeff Hayes to whom I gave
probative evidentiary documents of the money laundering which he confirmed as
indicative of same (he was transferred from said office within approximately a
month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said
correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth
in the case, inter alia,
· A judgment had been entered in my favor in the case,
United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson),
worth approximately now in excess of $300,000 remains unaccounted for and which
could be used for payment to creditors, Los Angeles, etc..
· Counsel Robert Sullivan on my behalf documented by
way of certification upon investigation that Alan Shiff, USBCJ, had falsely
stated a dismissal upon which false statement he predicated a retaliatory and
spurious contempt proceeding against me causing substantial damage, and for which
he sought Judicial Notice of those and related proceedings as did I in some of
my filings.
· The Order of Dismissal With Prejudice by Alan Shiff,
USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the
court’s deadline causing creditors and me substantial damages: [
Shiff Order of Dismissal With Prejudice on Coan’s Failure to File Page 1 Page 2 ]
· Defendant Coan had filed an action against me to
prevent me from suing him which necessitated me to fly to Connecticut for a
hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of
Connecticut, who denied Coan’s requested relief as to Coan but precluded my
action against Shiff (although there is no immunity, judicial or otherwise, for
criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) . [ http://albertpeia.com/crossexamofcoanbypeia.pdf ]
· Newly appointed judge, Maryanne Trump Barry, Donald
Trump’s sister, was assigned the RICO case despite the conflict of interest in
light of hundreds of thousands of dollars of illegal (drug) money being
laundered through the Trump casinos by the RICO defendants, and despite my
motion to recuse her which motion she heard herself and denied, and U.S.
Trustee Hugh Leonard with whom I met personally refused to join or file a
separate motion to recuse and not long thereafter left said office for private
practice at Cole, Shotz, et als on retainer with the RICO defendants as his
primary client.
· Probative and evidentiary documents, affidavits,
exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach,
CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met
personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel
Alito was U.S. Attorney, and went over said documents and their probative value
with him. Within approximately a month thereafter upon inquiry I was told that
Jonathon Lacey was no longer with the office, that the file/documents could not
be located, and that there was no further information available concerning
contacting him or his location. I thereupon delivered by hand, copies of said
documents to the office of then U.S. Attorney Alito, addressed to him, with
assurance they would go directly to him. In addition
to being inept [ I looked in on the one mob case he had brought, bungled, lost
(accidently on purpose?) since I was suing some mob-connected under RICO and
the court (I had known / previously met outside of court the judge Ackerman
through a client) was absolute bedlam and a total joke since incompetent
corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a
few to flip them first) who feigning illness had beds/cots in the courtroom
along with their moans during testimony and had the jury in stitches. As much
as I hate the mob, it truly was funny, if not so tragic.], Alito is also corrupt (and maybe corrupt
because he is inept). After a reasonable (but still rather short) time I called
to determine the status and was told that Alito was no longer with the Office
of the U.S. Attorney, that he was (appointed) a federal judge, and that neither
the documents nor any file or record of same could be located. Alito did parley
the same / cover-up into quid pro quo direct lifetime appointment to the Court
of Appeals, 3rd circuit, despite the absence of judicial experience
or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is
the same Sam Alito that now sits on the purported highest court in the land.
The real application of the illegal rule ‘don’t ask, don’t tell’.
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).
Fight
over feral alley cats divides feline lovers (Washington Post) [ My love of cats, big and small, is no
mystery; but indeed is beyond the scope of this comment. I’ve had and loved
neutered (not by my decision / action) as well as my most recent ‘macho’
(non-neutered) cat ( I just couldn’t bring myself to ‘cutting his b***s off’ as
advised by a girl I was seeing at the time … kind of a ‘golden rule’ thing …
and knowing ‘he’d never forgive me’ … his loss to me, part of the RICO
scenario, though not part of my damages, is among the forever unforgivable
parts of what occurred therein). As for ‘taking a position’, as a noumenon, I
question the premise of any life at all in a meaningful sense in Washington
d.c.; and hence, not the best comparison for setting policy. Unlike dogs, you
will not see cats attacking and killing babies, etc.. So, I conclude that in
such dire circumstances (d.c.) where a trade-up is beneficial, such seems,
though rightfully exceptional, a sometimes favorable course, if the only
choice; which assumes procreation and continued growth of the species is not
impinged upon. Therefore, this argues for un-neutered moves to better
environs. ]
Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development (click to enlarge images):
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! Remember: ‘Sell in May and go away! …
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009…’
Treasury
to tap pensions to fund government (WP)
24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
Reconciliation (Washington Post) Recap: Budget
graphs and budget tables; our fiscal future basically depends on
whether this works; and why did Republicans support a budget they
knew was politically toxic? [ Budget graphs and budget tables? Don’t ‘bet
the ranch’ on them … oh, wait … everybody already did … the ranch is indeed
upside down (worth less than what’s owed)
… the ‘new american dream / nightmare / fantasy’ … Market Downturn Approaching; Go Long the Ultra Shorts? White ‘It is time to worry about
a market downturn. There has been almost consistently bad economic news ..:
1. The Trade Balance for March was worse than expected
..will result in a lowering of the Q1 GDP estimate, which is due out May 26.
2. The Mississippi Flood is the worst in a century--
this alone will depress the Q2 GDP..
3. The PPI missed at 0.80% vs. an expected 0.60%. The
Core PPI missed at 0.30% vs. an expected 0.20%. .. This should hurt margins
going forward.
4. Retail Sales (MoM) missed at +0.50% vs. an expected
+0.60%.
5. .. Michigan Consumer Sentiment Index beat at 72.40
vs. an expected 70.00.
6. The NY Empire State Manufacturing Index missed at
11.90 vs. an expected 19.60.
7. The TIC Net Long-Term Transactions missed at $24.00B
vs. an expected $57.70B.
8. The NAHB Housing Market Index missed at 16 vs. an
expected 17.
9. Housing Starts missed at 0.52M vs. an expected 0.57M.
10. Building Permits missed at 0.55M vs. an expected
0.59M.
11. The Capacity Utilization Rate missed at 76.90% vs. an
expected 77.70%.
12. Industrial Production (MoM) missed at 0.00% vs. an
expected +0.50%.
13. Several blue chip companies such as Cisco (CSCO)
and Hewlett Packard (HPQ) gave very weak guidance going forward, as
though they are expecting a soft spot in the economy.
14. The Fed Minutes indicated that they had considered
ending QE2 before its stated end, but decided to proceed since it was so close
to the end..
15. Congress has allowed the debt ceiling to be exceeded.
Geithner is now borrowing from Peter to pay Paul, ..
16. The USD has been rallying. The above mentioned
tightening should help the USD rally. If the USD continues to strengthen, that
could cause an unwind of the USD carry trade. This would translate into selling
of equities and commodities. A stronger USD would mean commodity prices would
likely fall.
17. The Initial Jobless Claims were 409K vs. an expected
420K, but the previous week‘s number was revised upward to 438K..
18. Existing Home Sales dipped in April to 5.05M vs. an
expected 5.22M and a previous 5.10M.
19. The Philadelphia Fed Manufacturing Index missed
terribly at 3.90 vs. an expected 20.00 ..
20. The Leading Indicators for April missed at -0.3% vs.
an expected 0.0%…’ ]
NATO
launches massive Libya strike (Washington Post)Tripoli is rocked by at
least 15 huge explosions, many concentrated near Moammar Gaddafi’s compound. Senators
introduce measure supporting force [ ‘The Empire Strikes Back’ (saw that film –
the empire’s the bad guys) at … ] A
storm season on a deadly path As the death toll hits 116, the latest
tornado in Missouri has experts asking why 2011 has spawned so many deadly
storms, with many blasting heavily populated areas. (Washington Post) [ … God’s
Wrath … as good an explanation as any, especially when taking into account the
innocent blood on former empire, pervasively corrupt, defacto bankrupt
america’s hands … Market Downturn Approaching; Go Long the Ultra Shorts? White ‘It is time to worry about
a market downturn. There has been almost consistently bad economic news ..:
1. The Trade Balance for March was worse than expected
..will result in a lowering of the Q1 GDP estimate, which is due out May 26.
2. The Mississippi Flood is the worst in a century--
this alone will depress the Q2 GDP..
3. The PPI missed at 0.80% vs. an expected 0.60%. The
Core PPI missed at 0.30% vs. an expected 0.20%. .. This should hurt margins
going forward.
4. Retail Sales (MoM) missed at +0.50% vs. an expected
+0.60%.
5. .. Michigan Consumer Sentiment Index beat at 72.40
vs. an expected 70.00.
6. The NY Empire State Manufacturing Index missed at
11.90 vs. an expected 19.60.
7. The TIC Net Long-Term Transactions missed at $24.00B
vs. an expected $57.70B.
8. The NAHB Housing Market Index missed at 16 vs. an
expected 17.
9. Housing Starts missed at 0.52M vs. an expected 0.57M.
10. Building Permits missed at 0.55M vs. an expected
0.59M.
11. The Capacity Utilization Rate missed at 76.90% vs. an
expected 77.70%.
12. Industrial Production (MoM) missed at 0.00% vs. an
expected +0.50%.
13. Several blue chip companies such as Cisco (CSCO)
and Hewlett Packard (HPQ) gave very weak guidance going forward, as
though they are expecting a soft spot in the economy.
14. The Fed Minutes indicated that they had considered
ending QE2 before its stated end, but decided to proceed since it was so close
to the end..
15. Congress has allowed the debt ceiling to be exceeded.
Geithner is now borrowing from Peter to pay Paul, ..
16. The USD has been rallying. The above mentioned
tightening should help the USD rally. If the USD continues to strengthen, that
could cause an unwind of the USD carry trade. This would translate into selling
of equities and commodities. A stronger USD would mean commodity prices would
likely fall.
17. The Initial Jobless Claims were 409K vs. an expected
420K, but the previous week‘s number was revised upward to 438K..
18. Existing Home Sales dipped in April to 5.05M vs. an
expected 5.22M and a previous 5.10M.
19. The Philadelphia Fed Manufacturing Index missed
terribly at 3.90 vs. an expected 20.00 ..
20. The Leading Indicators for April missed at -0.3% vs.
an expected 0.0%…’
Deja Vu - Will the End of QE Lead to 20% Correction? ‘The stock
market updates investors on a need-to-know basis. Obviously, Mr. Market feels
that all we need to know is available on a real time bases ... no matter how
much we want to peek into the future.
One heavily debated
question is how the withdrawal of QE2 cash will affect stocks.
Here we will examine two
schools of thought. One is plain vanilla, straight to the point, and requires
no fantasy or analytical ability. It's so deceptively simple it might just be
right.
The second viewpoint is
more like a rocky road mocha almond fudge kind of approach that includes
whipped cream and considers various variables.
Plain Vanilla
Approach
The plain vanilla
approach simply asks:
1) What was QE2 supposed
to do?
2) What did QE2
accomplish?
3) What happened when
the last round of QE stopped?
1) What was QE2 supposed
to do? Ben Bernanke's goal was to create a wealth ripple effect by artificially
inflating stock prices.
2) What did QE2 do? The
stock market rallied. In addition to playing the yield curve, big banks
(NYSEArca: KBE - News) and financial conglomerates (NYSEArca: XLF - News) were given the license to 'invest' free
money uninhibited and indiscriminately.
Look at large cap
(NYSEArca: IWB - News), mid cap (NYSEArca: MDY - News) and small cap (NYSEArca: IJR - News) stocks. They are all up.
Look at the nine main
S&P industry sectors: Consumer discretionary (NYSEArca: XLY - News), consumer staples (NYSEArca: XLP - News), technology (NYSEArca: XLK - News), industrials , materials, utilities,
health care and energy. All sectors, whether cyclically sensitive or not, are
up.
Ironically, the only
sector missing in the line up of this year's success story is ... financials.
Yes, the sector that's been gorging on free money is in the red. What does the
market know that we don't? We shall soon find out.
3) What happened when
the last round of QE stopped? QE1 came to its conclusion in April 2010. From
April to June 2010 the main U.S. indexes a la Dow Jones (DJI: ^DJI), S&P
(SNP: ^GSPC), and Nasdaq (Nasdaq: ^IXIC) lost around 20% until Mr. Bernanke
carefully planted the seed of QE2 hope.
Rocky Road Mocha
Almond Fudge Approach
As the name implies,
compared to plain vanilla, this approach considers more variables to come up
with an educated, but not overanalyzed, conclusion.
Like water in a bathtub
floats all the rubber ducks, QE2 has floated all the stocks.
The key question is
where will cash come from when the QE2 spigot is turned off?
The most recent data
from the Investment Company Institute shows that mutual fund cash levels are at
3.4%. This is an all-time low. What does this mean? If you plot mutual fund
cash levels against the S&P you will see that cash levels were at
multi-decade lows at the 2000 and 2007 peaks and at a multi-year high during
the March 2009 low.
Mutual fund managers as
a group, follow the crowd like most everyone else. It's therefore best to take
their actions as a contrarian indicator. From a supply/demand perspective this
makes sense too. If mutual fund managers are already invested near the max,
they don't have much money left to drive stocks up further (detailed analysis
featured in the ETF Profit Strategy Newsletter).
Another way to calculate
'investable cash' is to look at margin debt and available cash. The NYSE
publishes data of margin debt and free cash of member brokerage firms. Based on
this data, 'investable cash' is at the lowest level since the 2000 and 2007
peak (detailed analysis of mutual fund assets and 'investable cash' is featured
in the ETF Profit Strategy Newsletter).
The conclusion to the
cash flow question seems simple and logical. There is very limited new cash
left to lift the 'rubber ducks' once QE2 has run its course …’
Drowning
in Debt Nyaradi ‘Debt, debt and more debt flared into global financial
crises last week as central banks from Greece, to Spain and the United States
grappled with the imperiled finances of sinking nation states. Sovereign debt,
along with bearish technical and fundamental indicators, makes this a
treacherous moment for stock market investors both at home and abroad.
On My Investing
Radar
The NYSE Bullish Percent
Index is one of the major charts I watch for long term trends in ETFs and the
U.S. stock market and the NYSEBP turned bearish this week which is yet another
warning flag going forward into the “sell in May” and go away period. Click to enlarge:
http://static.seekingalpha.com/uploads/2011/5/23/saupload_bpny052211_300x261.png
Chart courtesy of stockcharts.com
The NYSE Bullish Percent
Index measures the percent of all NYSE stocks on a point and figure buy signal,
and this index switched to “bear confirmed” as of May 20, 2011 which indicates
a significant change of tone for the broad U.S. stock market.
http://static.seekingalpha.com/uploads/2011/5/23/saupload_spx052211_300x300.png
Chart courtesy of stockcharts.com
This traditional chart
of the S&P 500 (SPY) shows the index below its 20 Day
Moving Average, which now becomes resistance, and above its 50 Day Moving
Average which represents major support. A break below the 1325 level on the
S&P 500 would represent a serious breakdown and make steeper declines a
more likely possibility ahead for ETFs across all asset classes.
Sovereign debt was the
issue of the week as countries around the world struggle with what increasingly
look like unsustainable debt loads.
Greece: The problem child of Europe continued causing
problems this week with Fitch cutting their ratings and putting the country on
negative outlook while their Prime Minister says there’s no way they will need
to restructure their debt. But more and more it’s becoming obvious that at
least a “soft reprofiling” might be on the way and the market anticipates
problems ahead with the 10 Year Bond yield hitting new highs last week.
The big problem here is
that a number of big European banks are on the hook for Greek debt and some
fear that default could trigger a significant banking crisis/collapse in
Europe.
Portugal: The IMF approved a $36 Billion bailout for Portugal
to give it some “breathing room” to deal with its economic problems.
Italy: S&P lowered Italy’s outlook to negative.
Spain: This “too big to fail” country was wracked with
demonstrations this week in defiance of a nationwide ban as mostly young people
protested a national unemployment rate of approximately 20% that reaches as
high as nearly 50% among youth in their teens and early twenties. The
Socialists are forecast to take heavy losses in this weekend’s elections and
several articles in the general media pointed to the possibility of piles of
“hidden debt” being uncovered in the provinces after the elections, as some
reports indicate that debt has been kept off the official books to make things
seem better than they are.
United States: The Treasury Department continues to take “extraordinary”
measures to keep the U.S. afloat as it has maxed out its credit card of $14.3
Trillion. D-Day for a debt limit increase is August 2nd when the country would
need to borrow again or default. Vice President Biden is leading talks about
cuts and tax increases but Republicans and Democrats appear to be trillions of
dollars apart as the clock ticks on.
As I reported in one of
my mid-week updates the news was mostly bad:
The only glimmer of
positive data was in Initial Unemployment Claims which declined to 409,000
versus 438,000 last week, but still above the psychologically and statistically
significant 400,000 level.
What this means to us is
that risk in the U.S. stock market is running high and the chance of a
significant correction is relatively high.
At Wall Street Sector
Selector, we continue to expect lower prices ahead in global stock markets and
maintain our inverse ETF and put option positions.
The Investing Week
Ahead
Major Economic and
Financial Issues/Themes
Lots of important
economic reports will come our way this week and be potential market movers.
We’ll get news from the beleaguered housing market and on Thursday we’ll see
the second estimate of the all important Q1 GDP.
Tuesday: April New Home
Sales
Wednesday: April Durable
Goods
Thursday: Initial Unemployment
Claims, Continuing Claims, Q1 GDP second estimate
Friday: April Personal
Income, April Personal Spending, March Pending Home Sales …’
-
Weekly Market Outlook: Actual Employment Numbers Are Weak Headley ‘For the third week in a row, stocks lost
ground. It wasn’t a big loss (only about a third of a percent), but after three
straight weeks of them, questions have to be asked. We’ll ask them all below,
right after we take a bigger-picture look at recent and upcoming economic data.
Economic Calendar
Last week was a big one
on the real estate front, but not a good one. Starts fell from 585K to 523K,
and permits fell from 5574K to 551K; both were well short of expectations.
Existing home sales also fell, from 5.09 million to 5.05 million…. well beneath
the forecasted rate of 5.23 million.
Factories, however,
appeared to remain busy. Capacity utilization stands at 76.9% as of the end of
last month, which is just a tad under the prior month’s 77.0%. Industrial
production growth was flat last month, but the productivity index (not cited on
the calendar below, but plotted on our chart) is still hovering at multi-year
highs. Though no ‘growth’ is evident, just maintaining output levels can still
led to the stability needed to foster broad economic growth. Take a look (click
charts to expand):
Capacity
Utilization and Industrial Productivity Index
http://static.seekingalpha.com/uploads/2011/5/23/saupload_052211_capacity_productivity.png
On the joblessness
front, we’re seeing what appears to be tepid improvement, via a diminishing
number of new and continuing unemployment claims. The former fell from 438K to
409K last week, while the latter fell from 3.792 million to 3.711 million.
That said, there’s an
employment number you rarely (if ever) hear… the actual number of working
Americans. That number isn’t getting better. As of the end of April, 139.6
million U.S. workers are actually employed. That’s about the same number of
employed workers we saw in the middle of 2009, and the improvement since the
middle of last year has almost been immeasurable. How can this happen while
claims figures are dropping? Simple – those claims figures don’t include the
unemployed who have (1) seen their benefits expire, (2) have stopped filing
claims, and (3) are employed, but underemployed.
Take a look at the chart
of the actual number of working Americans:
Employed U.S.
Workers
http://static.seekingalpha.com/uploads/2011/5/23/saupload_052211_employed.png
And as always, the
economic details for the prior and coming week:
Economic Calendar
http://static.seekingalpha.com/uploads/2011/5/23/saupload_052211_econ_data.png
The coming week will be
relatively busy, but not everything is hard-hitting. Here are the biggies to
watch out for.
S&P 500 Index
All told, the S&P
500 (SPX) (SPY)
gave up 4.5 point (-0.33%) last week to end Friday’s session at 1333.27. Had it
not been for Friday’s 10.3% loss though, the market would have ended the week
with a gain….. not that Friday’s something we can just delete from the
scoreboard.
As for what’s next
though, that’s a little less clear, but there are only a couple of likely
paths.
Just for the record, if
Friday’s dip really is the current direction of things and we’re pointed lower
– as it appears we are – then the SPX has just made its second lower highs
after making a second lower low (framed by pink lines). Ergo, a downtrend is in
place…that’s undeniable. The question is where it might stop falling, and
reverse.
While it’s not happened
yet, a floor that could do the trick is immediately below - the 50-day moving
average line (purple) at 1326. Just a tad under that level is the 100-day line
(gray), at 1313. If either or both of those lines fail to stop the bleeding,
odds are good the S&P 500 will be paying a visit to the lower 50-day
Bollinger band at 1278. What happens after that is anyone’s guess.
The other possibility
here is a bullish one, beginning with a break back above that upper
purple/resistance line, which by default would coincide with a move back above
the 20-day moving average line (blue). If that happens, then the upper
Bollinger band at 1372 becomes the new target.
In the meantime we’re in
limbo, although we have to acknowledge the bears are currently in control. As such,
we have to give the greater odds to the bears right now (though we wouldn’t be
digging in too deep on either side of the fence).
Notice how the heavier
volume days were all pullbacks, while the two rallies – Wednesday and Thursday
– were on light volume.
SPX & VIX Daily
HC
http://static.seekingalpha.com/uploads/2011/5/23/saupload_052211_sp500_daily.png
What about the CBOE
Volatility Index (VIX) (VXX) (VXZ) in all this?
Remember, last week was expiration week, which can skew the VIX and make it
somewhat misleading. Or in this case, the VIX was oddly unscrewed (it closed on
Friday about where it closed the prior week). That containment, however, is
still a form of skew. We want to see how it starts to move in Monday and Tuesday
before coming to any conclusions.
In the bigger picture
though, the VIX is still uncomfortably low, meaning confidence/complacency is
dangerously high; these bulls will need some sort of attitude adjustment sooner
than later. A couple of closes above the VIX’s 50-day average line at 18.0 will
start that process.
Since we usually add it,
we’ll once again insert a weekly chart of the S&P 500 to out the daily one
in perspective. What’s becoming clearer here is that the broad bullishness is
losing momentum, and the bears keep testing that 100-day line.
SPX & VIX Weekly Chart
http://static.seekingalpha.com/uploads/2011/5/23/saupload_052211_sp500_weekly.png
Sector Performance
Things were shaken and
stirred last week on the sector front. Healthcare (XLV) is still out in front, but
Telecom (XTL) is quietly sneaking up, a complete
turnaround from telecom’s dismal performance through most of last year.
At the bearish end of
the spectrum, Financials (XLF) have officially gone from bad
to worse. Notice, however, that there were few places to hide last week.
Sector Performance, since March 16th
http://static.seekingalpha.com/uploads/2011/5/23/saupload_052211_sector_performance.png ‘
Harold
Camping: the heart of the doomsday frenzy
(Los Angeles Times)
LinkedIn:
Getting it while the getting is good (Los Angeles Times) Column: The firm's hot
IPO should make the Fed happy as it tries to get money moving in the economy.
But what happens when the latest stimulus program ends? [ Hot IPO? More like ‘Twilight Zone’ time and
Dave thinks so as well … In reminder of '90s, LinkedIn has big first day (AP)
- There was an unmistakable echo of the dot-com boom Thursday on Wall Street. Rod Serling Now Linked-In : Dave's Daily ‘It definitely remains a really strange market. Fed
Governor Fisher summed things up nicely Thursday stating: "We've gone from
too little liquidity to too much." He's definitely off the main Fed
talking points but a little honesty explains the "more money than brains"
market. The LinkedIn(LNKD_) IPO typifies this Thursday. You may not be
aware of it but word on the street is only ten institutions were privileged to
obtain freshly issued shares. I wonder who was favored with this gift; care to
guess? You couldn't get a collection of bad economic news much worse than what
appeared today. While Jobless Claims were marginally lower given previous
adjustments, the moving average of
claims reached six-month highs; Home Sales were down...again; the Philly Fed
reading came in at 3.9 vs 18 expected; and Leading Indicators were lower 0.3 vs
flat expectations. These were dreadful but bulls brushed them off hoping for
more POMO
and extended ZIRP. Perhaps the stupid people are the ones
not playing ball, given rising markets on this lousy economic news. LinkedIn
should remind everyone of dotcom experiences but it's really about too much
liquidity. Commodity prices were generally lower with economic data while the
dollar was weaker and so too were base and precious metals. Bonds were flat
overall…’ ]
Harold
Camping: the heart of the doomsday frenzy
(Los Angeles Times)
Signs
of the apocalypse Quinn:
It’s not the end of the world Petri:
Harold Camping’s actual calculations (Washington Post) [ Drudgereport: Preacher
made same prediction in 1994... Doomsday
church thriving, worth $72 million... [Previous: ‘End
of Days’ message rolls into D.C.
(Washington Post) The
potentially rotten news that the world will end on May 21 arrived plastered on
a caravan of RVs. [ Gee … little premature … you know, that 2012, end of Mayan
calendar, Nostradamus thing … I previously weighed in / wrote: Why
do Americans still dislike atheists? (Washington Post) [ And not just americans … Why? First and
foremost because there is a God. Second, it is intellectually dishonest to be
an atheist. Specifically, there is absolutely no evidence to dispute the
existence of God. While one might similarly argue that there is no evidence to
suggest there is a God (which I would dispute), which for most is a fair
statement, the same would yield at best, if intellectually honest, the position
of ‘agnostic’. I can totally understand and even empathize with the view of the
agnostic. After all, at this point, there seems to be ‘no rhyme nor reason’ at
all. But, think binary, positives / negatives. Just too many negatives. Think
‘capital punishment’. No, the world’s not going to end in 2012 as some fear.
Rather, think slow burn; decades at best; then ‘poof’. In the scheme of things,
this world’s just not that important (apes,
notochordates, and initially single celled organisms). Kind of
akin to what I previously wrote: (God doesn’t care that you wrestle
a girl who wants to wrestle!) Boy
wrestler forfeits match to female opponent... [ What a homo! Wow! I
feel sorry for those guys she actually beat (20 of them – her record was 20 and
13) … they’ll probably never get over it … nor should they … I have to rethink
my regard for Iowa, Iowa state wrestling now presuming such stalwart
championship teams to be the products of out-of-state imports … as for the guy
who forfeited, he could have easily and gently taken her down (you can easily
do that with a lesser opponent), got her in a double grapevine and grind her in
a certain way into the mat, and when she was in the throws of convulsive
orgasm, she’d unwittingly arch her back, thereby pressing her own shoulder
blades to the mat, thereby pinning herself, thus enabling the homo to say in a
manner of speaking that he was making heterosexual love not war with her ………
how pathetic and preposterous this was … and, let me remind the homo that God
doesn’t care that you wrestle a girl who wants to wrestle! ]
How
the U.S could lose its credit rating
(Washington Post) [ Kinda’ like how the west was won, then lost … but,
Davis knows: Davis ‘This is how we pay off our
current debts and I think bondholders are simply happy to get anything out of a
country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to
$60Tn (entire global GDP) in the form of unfunded liabilities. The funniest
thing about this (and you have to laugh) is to see Conservative pundits get on
TV and talk about how we need to cut $100Bn worth of discretionary spending to
"fix" this (while continuing to spend $1Tn on the military and $1Tn
on tax cuts for the top 1% each year). There is no fixing this and even a
Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ …
New
Documentary Exclusively For Prison Planet.tv Subscribers: College Conspiracy College Conspiracy is the most comprehensive
documentary ever produced about higher education in the U.S. The film exposes
the facts and truth about America’s college education system. College
Conspiracy is just one of numerous videos that Prison Planet.tv members will
receive access to this week as we announce a bumper rollout of exclusive new
multimedia titles. ‘… The real
unemployment rate in America is now 22% and 60% of college graduates who are
lucky enough to find a job, are receiving low skilled jobs where a college
degree isn’t even required. In fact, 70% of high school graduates who didn’t go
to college, were able to get these very same jobs as the average college graduate.
The main difference is, by the time Americans who went to college get their
degree, those who went straight into the work force after high school will
already have 4 to 6 years of valuable workplace experience. Instead of having
$24,000 in debt, these experienced Americans will be working their way up to a
higher paid position or a better job at a different company. All across
America, colleges are deceiving prospective students with misleading and often
fraudulent tactics and statistics. The fact is, law schools are handing out
43,000 law degrees each year, when there are 15,000 less attorney and legal
staff jobs in the U.S. than three years ago. Many law schools are advertising a
90% job placement rate within one year of graduating. However, weeks before job
placement surveys are conducted, some law schools will hire unemployed
graduates to work in their admissions department. They are let go as soon as
these surveys are completed, but count as being part of the 90% employed …’
Donald
Rumsfeld confronted on Aspartame and Iraq War WAC Chicago | Rumsfeld hold
responsibility for the destruction of Iraq and the poisoning of the American
food supply.
Economic
Data Dismal This Week as Corporate Earnings (on currency manipulation, dollar
debasement) Carry Markets WallStCheatSheet / Nyardi Like
Putting Lipstick on a Pig ‘As the old saying goes, “You can put lipstick on
a pig but it’s still a pig,” and this week’s economic and financial data for
the U.S. economy have been truly swine-like. Here are the “boarish” details
regarding global stock markets and ETFs:
·
Japan (NYSE:EWJ) has reentered recession, its economy plunging for
the First Quarter at a -3.7% annualized rate, twice as deeply as expected.
·
May Empire
Manufacturing Index: 11.9 versus 21.7 previously
·
April Housing
Starts: 523,000 versus 585,000 previously
·
April
Building Permits: 551,000 versus 574,000 previously
·
April
Industrial Production: 0.0% versus 0.7% previously
·
April
Existing Home Sales: 5.05 million versus 5.09 previously, a -13% year over year
decline
·
May
Philadelphia Fed: 3.9 versus 18.5 previously, down from 43 just two months ago
which was the highest reading since 1984.
·
April Leading
Indicators: -0.3 versus -0.7, the first decline since last June
The only glimmer of
positive data was in Initial Unemployment Claims which declined to 409,000
versus 438,000 last week, but still above the psychologically and statistically
significant 400,000 level.
Bad…bad….bad…..it
has definitely been a “Miss Piggy” kind of week as, overall, the economic
numbers have been a debacle, particularly the Philly Fed which came in at 3.9
compared to a consensus 20.5 and last month’s 18.5.
Small wonder they call
economics the “dismal science.”
At Wall Street
Sector Selector, we continue to expect lower prices ahead in global stock
markets and maintain our inverse ETF and put option positions…’
Jobless
rate up in D.C., dips in Md., Va. The rate fell in more than three-quarters
of the nation’s states. (Washington Post) [ Jobless rate? With or without the
‘stopped looking’ fudge factor. I don’t buy any of it!
7
Reasons a Major Stock Market Correction Is Imminent Furman ‘The recent 2.5% pullback in the
S&P 500 (SPY) may just be a blip during a year
bullish analysts predict the index will finish above 1500. Brief and minor
sell-offs have indeed been the market's only hurdles since QE1 began in March
2009 -- the lone exception being early summer 2010, between QE1 and QE2. On the
other hand, here are seven reasons U.S. indicies could lose 20% or more in the
next two months.
·
CONCLUSION OF
QE2. Marc Faber, Austrian economist and leading market forecaster, aptly likens
fiscal policy to narcotics abuse: Always destructive in the end, though it may
have social benefits early on. Over time, however, that benefit requires more
and more of the "good" stuff. Americans are no longer net savers and
depend, along with every corporation that uses credit or relies on consumer spending,
on government jobs and welfare more so than ever before. QE1 supported
investment until it was finished. A sell off post-QE2 will be preempted by
investors large and small, which may explain recent trading sessions closing in
the red.
·
COMMODITIES
LEADING DOWN. Commodities markets are smaller and less subject to speculation
than stock markets, which is why experienced investors refer to them as leading
markets. Oil, silver, sugar, copper and other staples for both consumers and
producers have fallen severely in price of late. The selling may still be
escalating.
·
UNCLE BUCK IS
BACK. Currency markets are also referred to as leaders to stocks. Trading
volume is huge, but more driven by governments and billionaires than pension
plans and gamblers. The first few weeks of May have witnessed a long-unseen
affinity for the U.S. dollar, which has gained 2-5% versus most currencies.
This may signal the beginning of a flight to safety.
·
LEADING
STOCKS LOOKING UGLY. From economic bellwethers such as Bank of America (BAC)
and KB Homes (KBH)
to highly profitable market-changers like Apple (AAPL) and
OpenTable (OPEN),
downward moves have been drastic. Companies like these are growth-drivers of
the economy.
·
DEFENSIVE
STOCKS OUTPERFORMING. The best performers lately include utility companies
American Water Works (AWK) and Consolidated Edison (ED),
consumer staples companies Procter & Gamble (PG)
and General Electric (GE), and pharmaceutical conglomerate
Pfizer (PFE).
Outperformance by stocks that operate low-risk, low-growth businesses indicates
defensiveness by investors or an apparent lack of value elsewhere in the
market.
·
GLOBAL GROWTH
STIFLED. In 2009 and 2010, bullish arguments were largely focused on a
"good enough" United States and an emerging market boom. With Middle
Eastern sociopolitical turmoil taking center stage in that region, Japan in
shambles, Europe using Scotch tape to fix budgets, and inflation crippling
economies worldwide, from where is growth to come?
·
NO BOTTOM IN
SIGHT FOR U.S. HOUSING. It is one of the largest asset markets, and one that
affects everyone, in the world's largest economy. Still, even buyer incentives
and suppressed interest rates haven't stopped prices from sliding. A growing
population and falling housing prices are basic and clear signs of economic
recession.
Investors looking to
hedge portfolios or even flip net-short have endless choices thanks to inverse
and leveraged ETFs, as well as the opportunity to short individual stocks
directly or via options. Betting on increased volatility via VXX will also yield
profits if markets sell off. Leveraged ETFs inherently lose value over time and
are best for day-traders looking for highly-liquid, diversified ways to capture
quick moves.
Directly selling a stock
or ETF short allows for less potential upside than a leveraged play, but in
doing so you avoid paying a time premium. My preferred method is to short
indexes via put options. During significant sell offs, stocks generally fall in
unison, while diversified ETFs garner lower options premiums than more volatile
individual stocks. Technology (QQQ), homebuilders (XHB),
retail (XRT)
and financial (XLF) sector ETFs as well as
broader ones (SPY) offer appealing prices on the massive leverage that comes
with options.’
Minyanville's T3 Weekly Recap: Stocks Sell Off Into Options Expiration, Judgement Day* [ Riiiiight! ‘Judgement Day’ – Certainly been so for the ‘Terminator’ or former ‘Governator’ … Wow! Or should we say, Bow Wow! I mean, what a dog … You just can’t take former male model schwarzenegger any place … what a failed, gutless wonder and fraud (that commutation) he turned out to be! … Speaking of judgement days, raptures, previously I wrote: ‘End of Days’ message rolls into D.C. (Washington Post) The potentially rotten news that the world will end on May 21 arrived plastered on a caravan of RVs. [ Gee … little premature … you know, that 2012, end of Mayan calendar, Nostradamus thing … I previously weighed in / wrote: Why do Americans still dislike atheists? (Washington Post) [ And not just americans … Why? First and foremost because there is a God. Second, it is intellectually dishonest to be an atheist. Specifically, there is absolutely no evidence to dispute the existence of God. While one might similarly argue that there is no evidence to suggest there is a God (which I would dispute), which for most is a fair statement, the same would yield at best, if intellectually honest, the position of ‘agnostic’. I can totally understand and even empathize with the view of the agnostic. After all, at this point, there seems to be ‘no rhyme nor reason’ at all. But, think binary, positives / negatives. Just too many negatives. Think ‘capital punishment’. No, the world’s not going to end in 2012 as some fear. Rather, think slow burn; decades at best; then ‘poof’. In the scheme of things, this world’s just not that important (apes, notochordates, and initially single celled organisms). Kind of akin to what I previously wrote: (God doesn’t care that you wrestle a girl who wants to wrestle!) Boy wrestler forfeits match to female opponent... [ What a homo! Wow! I feel sorry for those guys she actually beat (20 of them – her record was 20 and 13) … they’ll probably never get over it … nor should they … I have to rethink my regard for Iowa, Iowa state wrestling now presuming such stalwart championship teams to be the products of out-of-state imports … as for the guy who forfeited, he could have easily and gently taken her down (you can easily do that with a lesser opponent), got her in a double grapevine and grind her in a certain way into the mat, and when she was in the throws of convulsive orgasm, she’d unwittingly arch her back, thereby pressing her own shoulder blades to the mat, thereby pinning herself, thus enabling the homo to say in a manner of speaking that he was making heterosexual love not war with her ……… how pathetic and preposterous this was … and, let me remind the homo that God doesn’t care that you wrestle a girl who wants to wrestle! ]
1) The 5-year high in
the level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s normal for insiders to be selling some
of their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
2) Professor Shiller at
Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16.
3) The failure of the
financial sector to keep up is a significant negative divergence for the entire
market.
4) Key market leaders
are rolling over in price... ‘
Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development (click to enlarge images):
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! Remember: ‘Sell in May and go away! …
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009…’
Treasury
to tap pensions to fund government (WP)
24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
Hedge Funds: Paulson, other big hedge funds, down in May
Japan slips back into
recession Japan's economy shrank
last quarter by almost double the margin economists had expected, as the March
disaster pushed the country back into recession. (LA Times) [I’ve always
thought, and from the beginning (see infra and website) that this disaster was
of greater consequence than reported; after all, as to america, who else
besides china was foolish enough and had cash reserves sufficient to buy
pervasively corrupt, defact bankrupt america’s ever more worthless paper
Chernobyl, 25 years later (Washington Post) Following the nuclear disaster in
Japan, the Chernobyl accident
has a particular importance. Japan declares evacuation zone near nuclear plant
(Washington Post)[ Wow! Sounds like a plan!… From the beginning, as I’ve
written on my website, I’ve thought the catastrophic nature and impact of this
disaster to have been underreported at the least … the Japanese
uncharacteristically have adopted somewhat of a ‘if wishing could make it so’
tact in this sad crisis. Chernobyl,
25 years later (Washington Post)
Following the nuclear disaster in Japan, the Chernobyl accident has a
particular importance. Japan
declares evacuation zone near nuclear plant
(Washington Post) [ Wow! Sounds like a plan! … From the beginning, as
I’ve written on my website, I’ve thought the catastrophic nature and impact of
this disaster to have been underreported at the least … the Japanese
uncharacteristically have adopted somewhat of a ‘if wishing could make it so’
tact in this sad crisis.
Existing-home
sales drop in April Sales fall short of many analysts’ expectations for
this key month of the spring selling season. (WP) [ Come on! Stocks rally on worse than expected
bad news to keep the suckers suckered! This is an especially great opportunity to sell / take profits while
you still can since there's much worse to come! Remember: ‘Sell in May and go
away! LinkedIn
IPO shatters expectations (WP) [ Kind of like the pre-bust dot.com
days/preposterous (all bad news today) that Dave preceded his commentary with a
twighlight zone picture In reminder of '90s, LinkedIn has big first day (AP)
an unmistakable echo of the dot-com boom Thursday on Wall Street. Rod Serling Now Linked-In : Dave's Daily ‘It definitely remains a really strange market. Fed
Governor Fisher summed things up nicely Thursday stating: "We've gone from
too little liquidity to too much." He's definitely off the main Fed
talking points but a little honesty explains the "more money than
brains" market. The LinkedIn(LNKD_) IPO typifies this Thursday. You may not be
aware of it but word on the street is only ten institutions were privileged to
obtain freshly issued shares. I wonder who was favored with this gift; care to
guess? You couldn't get a collection of bad economic news much worse than what
appeared today… While Jobless Claims were marginally lower given previous
adjustments, the moving average of
claims reached six-month highs; Home Sales were down...again; the Philly Fed
reading came in at 3.9 vs 18 expected; and Leading Indicators were lower 0.3 vs
flat expectations. These were dreadful but bulls brushed them off hoping for
more POMO
and extended ZIRP. Perhaps the stupid people are the ones
not playing ball, given rising markets on this lousy economic news. LinkedIn
should remind everyone of dotcom experiences but it's really about too much
liquidity. Commodity prices were generally lower with economic data while the
dollar was weaker and so too were base and precious metals. Bonds were flat
overall…’
1) The 5-year high in
the level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s normal for insiders to be selling some
of their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
Why
Are Investors Fearful? Here are 19 Answers Khaner 5-17-11’
QE II:
U.S. ECONOMY: (bad)
UNEMPLOYMENT: ..(problematic)
U.S. DEBT CEILING:
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Agents
irked by plan to keep Mueller
(Washington Post) [ ‘abide by ..
tenure limits’ ? I’m more concerned with, and it’s fundamentally more important
from the perspective of the FBI’s ‘mission and purpose’, that meaningful law be
abided by regarding the following:
October 15, 2010 (*see infra)
Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom
autorun disk (which will open in your computer’s browser) as per your office’s
request as made this day (the disk and contents have been scanned by Avast,
McAfee, and Norton which I’ve installed on my computer to prevent viral attacks
/ infection and are without threat). I also include 1 copy of the DVD as filed
with the subject court as referenced therein (which files are also included on
the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil)
RICO action (as you’re aware, the RICO Act is a criminal statute which provides
a civil remedy, including treble damages and attorney fees, as an incentive for
private prosecution of said claims probably owing to the fact that the USDOJ
seems somewhat overwhelmed and in need of such assistance given the seriousness
and prevalence of said violations of law which have a corrupting influence on
the process, and which corruption is pervasive). A grievance complaint against
Coan was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the
horizontal rule are the referenced documents as filed. (Owing to the damage to
the financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I
would absent resolution seek to refer the within to a firm with expertise in
that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO Summary to FBI Under Penalty of Perjury at Their Request (5
pages) [ ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the Congresswoman
by way of email attachment (apparent but typical problem with my mail) along
with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm .
With regard to the calls to the FBI’s LA and New Haven, CT offices:
There was one call to the LA office and I was referred to the Long Beach, CA
office where I personally met with FBI Agent Jeff Hayes to whom I gave
probative evidentiary documents of the money laundering which he confirmed as
indicative of same (he was transferred from said office within approximately a
month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in said
correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth
in the case, inter alia,
· A judgment had been entered in my favor in the case,
United States District Court Case #3:93cv02065(AWT)(USDCJ Alvin Thompson),
worth approximately now in excess of $300,000 remains unaccounted for and which
could be used for payment to creditors, Los Angeles, etc..
· Counsel Robert Sullivan on my behalf documented by
way of certification upon investigation that Alan Shiff, USBCJ, had falsely
stated a dismissal upon which false statement he predicated a retaliatory and
spurious contempt proceeding against me causing substantial damage, and for
which he sought Judicial Notice of those and related proceedings as did I in
some of my filings.
· The Order of Dismissal With Prejudice by Alan Shiff,
USBCJ, owing to Defendant Coan’s failure to file anything whatsoever by the
court’s deadline causing creditors and me substantial damages: [
Shiff Order of Dismissal With Prejudice on Coan’s Failure to File Page 1 Page 2 ]
· Defendant Coan had filed an action against me to
prevent me from suing him which necessitated me to fly to Connecticut for a
hearing before The Honorable Robert N. Chatigny, Chief Judge, USDC, District of
Connecticut, who denied Coan’s requested relief as to Coan but precluded my
action against Shiff (although there is no immunity, judicial or otherwise, for
criminal acts, ie., fraud connected with a case under Title 11, USC, etc.) .
[ transcript in pertinent part
- crossexamofcoanbypeia.pdf ]
· Newly appointed judge, Maryanne Trump Barry, Donald
Trump’s sister, was assigned the RICO case despite the conflict of interest in
light of hundreds of thousands of dollars of illegal (drug) money being
laundered through the Trump casinos by the RICO defendants, and despite my
motion to recuse her which motion she heard herself and denied, and U.S.
Trustee Hugh Leonard with whom I met personally refused to join or file a
separate motion to recuse and not long thereafter left said office for private
practice at Cole, Shotz, et als on retainer with the RICO defendants as his
primary client.
· Probative and evidentiary documents, affidavits,
exhibits, including those turned over to FBI Agent Jeff Hayes in Long Beach,
CA, had been given to Assistant U.S. Attorney Jonathan Lacey with whom I met
personally at the U.S. Attorney’s Office in Newark, N.J., at which time Samuel
Alito was U.S. Attorney, and went over said documents and their probative value
with him. Within approximately a month thereafter upon inquiry I was told that
Jonathon Lacey was no longer with the office, that the file/documents could not
be located, and that there was no further information available concerning
contacting him or his location. I thereupon delivered by hand, copies of said
documents to the office of then U.S. Attorney Alito, addressed to him, with
assurance they would go directly to him. In addition
to being inept [ I looked in on the one mob case he had brought, bungled, lost
(accidently on purpose?) since I was suing some mob-connected under RICO and
the court (I had known / previously met outside of court the judge Ackerman
through a client) was absolute bedlam and a total joke since incompetent
corrupt Alito brought in all 20 mob defendants (rather than prosecute one or a
few to flip them first) who feigning illness had beds/cots in the courtroom
along with their moans during testimony and had the jury in stitches. As much
as I hate the mob, it truly was funny, if not so tragic.], Alito is also corrupt (and maybe corrupt
because he is inept). After a reasonable (but still rather short) time I called
to determine the status and was told that Alito was no longer with the Office
of the U.S. Attorney, that he was (appointed) a federal judge, and that neither
the documents nor any file or record of same could be located. Alito did parley
the same / cover-up into quid pro quo direct lifetime appointment to the Court
of Appeals, 3rd circuit, despite the absence of judicial experience
or successful tenure as U.S. Attorney (Maryanne Trump Barry as well). This is
the same Sam Alito that now sits on the purported highest court in the land.
The real application of the illegal rule ‘don’t ask, don’t tell’.
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).
Drudgereport: USA
HITS DEBT CEILING...
TREASURY
RAIDS PENSIONS...
OBAMA
SIDES WITH THE PALESTINIANS...
Netanyahu
fumes at call to return to '67 borders...
Abbas
calls emergency Palestinian Authority meeting...
Israeli
Knesset member: Obama is the new Arafat...
OBAMA:
'Limited' US Role in Libyan War Means No Need For Congressional
Authorization...
I
DON'T NEED YOUR PERMISSION (FOR WAR,
says nobel peace laureate)
CHICAGOLAND:
GODFATHER WANTS CASINO...
Cornel
West: Obama 'a black mascot' and 'black puppet'...
Peter
Fonda calls Obama 'traitor' at Cannes...
Obama,
Sarkozy dissed in films...
Doomsday
Food Price Scenario Turning Hedge Fund Managers into Survivalists...
In
China, some new cities are ghost towns...
RON PAUL: SELL THE GOLD IN FORT KNOX... [ I
personally believe that some has already been ‘sold’, as in stole, with gold
plate the replacement; after all, with the wall street frauds, 360 tons of $100
bills flown into Iraq and ‘disappeared’, etc., why would same seem unlikely. ]
NEXT
UP FOR BAILOUT: POST OFFICE...
4
MONTHS UNTIL DEFAULT... US
Postal Service reports $2.2B loss for quarter... [ And, let me add
that they deserved that loss. The USPS is totally unreliable and basically a
jobs program for the otherwise unemployable; and, they are also corrupt. I’ve
previously set forth the scenario where the postal service waylaid dvd disks
sent priority/confirmation and a second time, certified mail, to the FBI
(violations of federal law, tampering, obstruction, etc.), and ultimately
additional copies of said disks were delivered by the reliable, efficient,
competitive, performance-driven UPS (their parcel rates are roughly the same
and yet half the delivery time – Fedex is as unreliable as the USPS-and for
some time had a deal with the USPS)…infra ]
Medvedev
warns West of new Cold War...
Russia
Expels Israel's Military Attache...
U.S.-Israeli
group tells members not to boo president...
WHITE
HOUSE SHUTS OUT NEWSPAPER OVER 'BIAS'...
Veteran
reporters mock WH press for kowtowing to 'monarch'...
GOV'T
MOTORS CHEERS CHINESE COMMUNIST MOVIE...
US
helicopter exchanges fire with Pakistan troops on Afghan border...
...increasing
tensions
Pakistan,
China Grow Closer...
New,
federally-mandated light bulbs will cost $50 -- each...
GE
lobbied for them...
REPORT:
Secret Service interrogates 7th grader without parents' knowledge...
China
cuts holdings of Treasurys for 5th month...
U.S. borrows $58,000 a second...
BUCHANAN:
'Bad day for New World Order'...
NO
BAIL FOR WORLD'S BANKER
DOWN
AND OUT IN MANHATTAN...
...sex charges likely to isolate IMF in debt crisis talks
'BLOOD
ON THE BED'...
Authorities
investigating 'at least one other' case...
CHANGE:
Obama Assets Total as Much as $12 Million...
GALLUP:
OBAMA DROPS ANOTHER 2 POINTS, DOWN TO 46%...
...Post-Bin
Laden Bump Has Vanished
Hamas
PM: Pray for an end to Israel...
Protesters
try to breach Israeli border on 3 fronts...
Israel
opens fire across border with Lebanon...
Egypt
police fire tear gas at Nakba rally...
Demonstrators
pour into Israel from Syria...
'Iran
fingerprints'...
'Terror
truck' attack...
GALLUP:
Obama slips back to 48/45...
Administration
approves 200 more new Obamacare waivers...
IMF
HEAD IN RAPE RAP...
New
Details...
May
Step Aside?
French
presidential race hopes in jeopardy...
'THUNDERBOLT'...
Ron
Paul: 'These are the kind of people running the IMF'...
9
civilians killed in U.S. drone strike in Pakistan...
ALARM
OVER APPROACHING INSOLVENCY OF SOCIAL SECURITY, MEDICARE...
Social
Security to run 'permanent' deficits...
Texas
official accuses ATF of starting wildfire...
'That bunch has a real corner on stupid'...
British
woman decapitated in grocery store; killer flees with head...
Cannes:
Diana doc slams UK royals as 'gangsters'...
Senate
Bill Gives Feds Power to Order Blacklisting of Websites...
Treasury Auctions to Push US Over Debt Ceiling...
McCARTHY:
'Not one Republican vote' to borrow more without cuts...
REPORT:
48 Women Raped Every Hour in Congo...
'DOLLAR
IN GRAVER DANGER THAN EURO'...
FORBES:
RETURN TO GOLD STANDARD WITHIN 5 YEARS...
In
S.C., legislature takes first step...
POLL: 1 in 5 say bin Laden alive...
MICHELLE:
KEEPS ON DANCING!
First
Lady to host rapper who talks of killing cops...
USA
FREAK OUT: TERROR FEARS; FALSE ALARMS...
Sen.
Schumer Calls For Amtrak 'Do Not Ride' List...
Two
tunnel 'breaches' cause scare in NYC...
Threats
Divert Planes in Three Separate Incidents...
Passengers,
flight crew subdue man banging on cockpit door...
Dallas
Train Station Evacuated: Man Asked For Help Carrying Packages...
4
Arrested For Videotaping TSA Line At Denver...
SHOCK PHOTO: TSA LOOKING FOR
'POOP BOMBS?'
U.S.-Pak.
Rift Widens...
Pak.
warns of 'full force' response to future US raids...
S&P
cuts Greece's rating...
BOEHNER
TO DEMAND NOT BILLIONS, BUT TRILLIONS
IN CUTS...
OIL
REBOUNDS; 2ND LARGEST GAIN ON RECORD...
REPORT:
Housing crash getting worse...
...values
fall fastest rate since '08
Michelle
Obama to host rapper at WH who talks of killing cops...
'COMMAND
CENTER'...
Pakistan
skeptical of U.S. claim bin Laden directed network...
Two loud explosions heard in town where bin Laden killed...
Videos
show 9-11 mastermind watching himself on TV...
U.S.
government censors tapes, cuts audio...
Inside
bin Laden's squalid home...
NYT:
Final days of domesticity...
Drone
Strike Kills 15 in Pakistan...
First
since bin Laden raid...
BIN LADEN
SUPPORTERS RAGE ON THE STREETS OF LONDON, VOW REVENGE...
Stage
mock funeral in front of US embassy...
Gas
nat'l average: $3.99...
Eats
9% of household budgets...
Average
price sets record in Indiana -- $4.25 a gallon...
$6.03
in Hawaii...
JAPAN
URGES HALT AT THREE REACTORS...
UNEMPLOYMENT
BACK UP TO 9.0%...
Fannie
Mae Reports $8.7B Loss for First Quarter...
Seeks
$8.5B more from taxpayers...
APRIL
JOBS: +244,000...
FUZZY
MATH: How can US add
jobs but the unemployment rate go up?
Gas
nat'l average: $3.99...
Eats
9% of household budgets...
Average
price sets record in Indiana -- $4.25 a gallon...
$6.03
in Hawaii...
PAPER:
GREECE EU EXIT?
Silver
Plunge Spreads...
OIL
GUTTED...
Price
Slide Temporary, New Highs Likely: Goldman...
Fears
linger of a new 'flash crash'...
Euro
Tumbles... CNN
SHOCK POLL: RON PAUL HAS BEST CHANCE VS OBAMA
National
Home Prices Double Dip...
JOBLESS
CLAIMS RISE TO 8 MONTH HIGH...
Fears
linger of a new 'flash crash'...
9-11
FAMILY: 'SHOW US PROOF BIN LADEN KILLED'...
Victim's
father: Obama 'putting too much spotlight on himself'...
Channels
Bush at Ground Zero: 'We will never forget'...
Tells
teen survivor he knows
Justin Bieber...
Turns
Back on 9/11 Family Member...
AUDIO...
Muslim
Brotherhood urges review of Israel ties...
Pakistanis
burn U.S. flags; backlash over death grows...
Pakistan
officials: No resistance in 'cold-blooded' U.S. raid...
Warns
America not to stage any more...
Threatens
'disastrous consequences'...
Muslims
already name dump location 'Martyr's Sea'...
OBAMA,
NO PHOTOS OF OSAMA: 'We don't need to spike the football'...
'Conspiracy theorists will just claim doctored'...
Sen.
Scott Brown: 'I've seen picture, he's definitely dead'...
UPDATE:
Photo proving bin Laden's death to Sen. Brown was
faked...
three
senators fell for fakes...
UPDATE:
'The photo I saw and that a lot of other people saw is not authentic'...
Top
Dem: No photo needed, 'there's absolute proof'...
REUTERS RELEASES 'DEATH SCENE' PHOTOS
**WARNING GRAPHIC**
UPDATE: Photo proving bin Laden's death to Sen. Brown was faked...
Possibly
three senators fell for fakes...
Pakistan:
'Not a single bullet fired from compound'...
WIRE:
Photos from 1 hour after raid show 3 dead, no weapons...
The
Slippery Story of the bin Laden Kill...
Official says 'killed apparently
by the U.S. raid team'...
DOLLAR
HITS 3 YEAR LOW...
1
IN 7 ON FOOD STAMPS!
Job
numbers disappoint...
Treasury
suggests $2 trillion debt cap raise...
REUTERS, AP journalists describe staging of Obama photo taken after
TV announcement of bin Laden's death...
Wrap
up those loose ends: 'Rapture' movement predicts end of world on Saturday...
Preacher
made same prediction in 1994...
Doomsday
church thriving, worth $72 million... : ‘End
of Days’ message rolls into D.C.
(Washington Post) The
potentially rotten news that the world will end on May 21 arrived plastered on
a caravan of RVs. [ Gee … little premature … you know, that 2012, end of Mayan
calendar, Nostradamus thing … I previously weighed in / wrote: Why
do Americans still dislike atheists? (Washington Post) [ And not just americans … Why? First and
foremost because there is a God. Second, it is intellectually dishonest to be
an atheist. Specifically, there is absolutely no evidence to dispute the
existence of God. While one might similarly argue that there is no evidence to
suggest there is a God (which I would dispute), which for most is a fair statement,
the same would yield at best, if intellectually honest, the position of
‘agnostic’. I can totally understand and even empathize with the view of the
agnostic. After all, at this point, there seems to be ‘no rhyme nor reason’ at
all. But, think binary, positives / negatives. Just too many negatives. Think
‘capital punishment’. No, the world’s not going to end in 2012 as some fear.
Rather, think slow burn; decades at best; then ‘poof’. In the scheme of things,
this world’s just not that important (apes,
notochordates, and initially single celled organisms). Kind of
akin to what I previously wrote: (God doesn’t care that you wrestle
a girl who wants to wrestle!) Boy
wrestler forfeits match to female opponent... [ What a homo! Wow! I
feel sorry for those guys she actually beat (20 of them – her record was 20 and
13) … they’ll probably never get over it … nor should they … I have to rethink
my regard for Iowa, Iowa state wrestling now presuming such stalwart
championship teams to be the products of out-of-state imports … as for the guy
who forfeited, he could have easily and gently taken her down (you can easily
do that with a lesser opponent), got her in a double grapevine and grind her in
a certain way into the mat, and when she was in the throws of convulsive
orgasm, she’d unwittingly arch her back, thereby pressing her own shoulder
blades to the mat, thereby pinning herself, thus enabling the homo to say in a
manner of speaking that he was making heterosexual love not war with her ………
how pathetic and preposterous this was … and, let me remind the homo that God
doesn’t care that you wrestle a girl who wants to wrestle! ]
Gentlemen:
I just wanted
to extend to you and your company my sincere thanks for a job well done. The
Dell computer I recently purchased from you has lived up to all your
representations and as well, my own expectations. I bought my first computer
from you (Ben) in or around 1999. It was a Sony Vaio laptop which owing to
Windows Millenium and a very proprietary approach to computing on the part of
Sony, truth be told, was not the greatest system in terms of stability (typical
Millenium problems), but no fault of yours. Ultimately, though functional, I
traded the Vaio for a Mac, an accommodation by your company seldom seen with
other companies if at all (3+ years later). You’ve always stood by your
products / service, are available / accessible to field / handle all questions
/ problems which is rare indeed. In Armand you have a top-notch A+ Certified
Tech who is patient, knowledgeable, and talented. Ruben, in truth has been
particularly instrumental in seeing to a smooth transition in my recent
dealings with your company as a knowledgeable IT Specialist and especially as a
savvy, capable manager. Since 1999 I’ve purchased five computers from you and
based upon performance, the sixth is assured.
Sincerely,
Albert L.
Peia ) ]
1) The 5-year high in
the level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s normal for insiders to be selling some
of their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
2) Professor Shiller at
Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16.
3) The failure of the
financial sector to keep up is a significant negative divergence for the entire
market.
4) Key market leaders
are rolling over in price... ‘
Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development (click to enlarge images):
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! Remember: ‘Sell in May and go away! …
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009…’
Treasury
to tap pensions to fund government (WP)
24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
In reminder of '90s, LinkedIn has big first day (AP) - There was an unmistakable echo of the dot-com boom
Thursday on Wall Street.
Rod Serling Now Linked-In : Dave's Daily ‘It definitely remains a really
strange market. Fed Governor Fisher summed things up nicely Thursday stating:
"We've gone from too little liquidity to too much." He's definitely
off the main Fed talking points but a little honesty explains the "more
money than brains" market. The LinkedIn(LNKD_) IPO typifies this Thursday. You may not be
aware of it but word on the street is only ten institutions were privileged to
obtain freshly issued shares. I wonder who was favored with this gift; care to
guess? You couldn't get a collection of bad economic news much worse than what
appeared today. While Jobless Claims were marginally lower given previous
adjustments, the moving average of
claims reached six-month highs; Home Sales were down...again; the Philly Fed
reading came in at 3.9 vs 18 expected; and Leading Indicators were lower 0.3 vs
flat expectations. These were dreadful but bulls brushed them off hoping for
more POMO
and extended ZIRP. Perhaps the stupid people are the ones
not playing ball, given rising markets on this lousy economic news. LinkedIn
should remind everyone of dotcom experiences but it's really about too much
liquidity. Commodity prices were generally lower with economic data while the
dollar was weaker and so too were base and precious metals. Bonds were flat
overall…’
Geithner:
There Will Be Another Storm Roche
‘(Tiny) Tim Geithner was recently interviewed by Andrew Ross Sorkin for the
upcoming film “Too Big To Fail”. His comments on the future were pretty
encouraging (via the Daily
Beast):
“It will come again.
There will be another storm,” warned Geithner, who in early 2009 succeeded
Paulson as treasury secretary. “But it’s not going to come for a while.”
Under mostly gentle
questioning from Pulitzer Prize-winning financial writer Liaquat Ahamed and New
York Times business columnist Andrew Ross Sorkin, author of the book on which
the film is based, Geithner said “I’m certain we will” experience another
catastrophe—he just couldn’t say when or what kind.
“You will not know,” he
answered when Sorkin tried to pin him down. “It’s not going to be possible for
people to capture risk with perfect foresight and knowledge.”
And of course he’s
right. Mr. Geithner, the fox in the hen house at the NY Fed while the too big
to fail banks were becoming the behemoths that they are, was instrumental in
ensuring that too big to fail became too bigger
to fail. He has been one of the primary players in the build-up of
the Wall Street financialization scheme. And worst of all, he knows that it has
the ability to cause another crippling storm.
The infuriating thing is
that there are rules and regulations that we could implement that would thwart
or lessen the damage from any future storms. But no, we choose instead to allow
these companies to seek profit maximization without requiring proper risk management.
And in doing so, it increases the instability of the entire system. The fact
that our leaders understand this is beyond maddening. And it would be funny if
it wasn’t the cause of so much hardship.’
Jailed
IMF chief resigns but maintains his innocence Strauss-Kahn, who is facing sexual assault
charges in N.Y., says he is stepping down with "infinite sadness" and
that he wants to devote "all my energy to proving my innocence." (Los
Angeles Times) I.M.F. Chief
Quits After His Arrest In Sexual Attack
(New York Times) [ Strauss-Kahn
resigns as head of the IMF
(Washington Post) [ So what! Who cares! There is not one head of even
one institution in the world today that deserves to keep their job; from
bernanke at the fed, to the nobel committee that awarded wobama the peace
prize, to geithner at treasury, to looney moony at the u.n., etc.. For jobs
poorly done, they should step down and make way for the generation that’s been
so negatively impacted by their venality, incompetence, corruption, etc… Why
Are Investors Fearful? Here are 19 Answers Khaner 5-17-11’
QE II: .. Place yer bets, place yer bets! Tick, tick, tick…
U.S. ECONOMY: Inventory built, inventory sold, inventory built, inventory sold.
..
UNEMPLOYMENT: ..(problematic)
U.S. DEBT CEILING: “Going up, she said, uh, huh…”
ON MAY 1,
2011, JUST MOMENTS BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED
OSAMA BIN LADEN, THE WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED
DENIAL OF SERVICE ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN
ACTUALLY DIED IN DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T
WANT AVAILABLE WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT
IS POSSIBLE THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A
"REVENGE" ATTACK FROM "AL QAEDA" ON THE UNITED STATES, WITH
WHICH TO JUSTIFY TOTAL WAR ON THE MIDDLE EAST.
Bin
Laden's voice was detected regularly until [12-14-01] by intelligence
operatives monitoring radio transmissions in Tora Bora, according to the
Pentagon [details]. Since then,
nothing has been heard from the al-Qa'eda leader ..[Telegraph, 12/28/2001]
Osama bin Laden: A dead nemesis perpetuated by the US government
Osama bin
Laden is dead. The news first came from sources in Afghanistan and Pakistan
almost 6 mos ago: the fugitive died in December [2001] and was buried in the
mountains of southeast Afghanistan. Pakistan's president, Pervez Musharraf,
echoed the information. ..
..Osama
bin Laden would not have.. remained silent for so long if he were still alive.
He always liked to take credit even for things he had nothing to do with …[NYT
7-11-02]
2) Professor Shiller at
Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16.
3) The failure of the
financial sector to keep up is a significant negative divergence for the entire
market.
4) Key market leaders
are rolling over in price... ‘
Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development (click to enlarge images):
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! Remember: ‘Sell in May and go away! …
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar
24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
Many
With New College Degree Find the Job Market Humbling Employment rates for
new graduates have fallen sharply, as have starting salaries for those who can
find work. (New York Times) [ Yet, we
all know things are humming on wall street, and military recruitment is
up. This
is the grim economic
reality [ http://albertpeia.com/grimreality.htm America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
El-Erian:
“Financial Repression” In the Form of a Negative Real Rate of Return for Savers
Is Coming to America Pimco co-chair
El-Erian is saying that the major flaws in the financial system will not be
addressed, the government will keep on printing money, and that the
inflation-adjusted return on investments for most Americans will be negative. Stock
Market: 4 Current Warning Signs
Navin ‘… 1) The 5-year high in the level of insider corporate stock
sales is telling. At 565 sells for every 1 buy, it’s never been higher. Yes,
it’s normal for insiders to be selling some of their stocks so they can buy new
yachts and some of this is pre-planned. But that ratio — which has spiked
recently — is extraordinarily high, one might even say off-the-chart. 2)
Professor Shiller at Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16. 3) The failure of
the financial sector to keep up is a significant negative divergence for the
entire market. 4) Key market leaders are rolling over in price... ‘ Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development (click to enlarge images):
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
Financialization
and Our Increasingly Unstable Economy Roche
'The worst part of it ...Obama, who
vowed change, has done almost nothing to fix any of it and in fact continues
most of the policies that helped get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud ). UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
This is an especially great opportunity to
sell / take profits while you still can since there's much worse to come!
Remember: ‘Sell in May and go away! …
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
Gentlemen:
I just wanted
to extend to you and your company my sincere thanks for a job well done. The
Dell computer I recently purchased from you has lived up to all your
representations and as well, my own expectations. I bought my first computer
from you (Ben) in or around 1999. It was a Sony Vaio laptop which owing to
Windows Millenium and a very proprietary approach to computing on the part of
Sony, truth be told, was not the greatest system in terms of stability (typical
Millenium problems), but no fault of yours. Ultimately, though functional, I
traded the Vaio for a Mac, an accommodation by your company seldom seen with
other companies if at all (3+ years later). You’ve always stood by your
products / service, are available / accessible to field / handle all questions
/ problems which is rare indeed. In Armand you have a top-notch A+ Certified
Tech who is patient, knowledgeable, and talented. Ruben, in truth has been
particularly instrumental in seeing to a smooth transition in my recent
dealings with your company as a knowledgeable IT Specialist and especially as a
savvy, capable manager. Since 1999 I’ve purchased five computers from you and
based upon performance, the sixth is assured.
Sincerely,
Albert L.
Peia ) ]
Wall Street - Will it Lie and Cheat Stocks to New Highs?
May 18,
2011 ‘Dear Wall Street and
government officials (domestically and abroad), please take the following
definition and post it where you see it daily (no, the latrine doesn't count):
Risk On/Risk Off Markets: Dave's Daily ‘Most investors were waiting for the 2PM Fed Minutes which
offered few surprises. In it some governors were worried about inflation while
others economic weakness. The unspoken conclusion is stagflation. Nevertheless,
some Canadian wild fires near oil sands production areas halted production
which, when combined with slightly lower oil inventories, pushed energy prices
higher. This took the entire commodity complex higher once again squeezing
shorts. With commodity prices higher, stocks also took-off
with the most volatile and oversold sectors (EMs and Small Caps) leading the
charge higher. Bond prices reversed course and the dollar was mostly
flat. One of the last companies to report earnings was Dell (DELL) which
beat expectations. This led tech sectors higher despite quickly forgotten
misses by Cisco (CSCO) and Hewlett Packard (HPQ). There have also been plenty
of ignored casualties along the way as companies like Staples (SPLS) and AFLAC (AFL) reports
disappointed. That said, markets are just plain "jumpy" and there's
plenty of big money stock bets by hedge funds and others that need defending so
any excuse will do. For all the bullishness volume was once again ultra-light
which has been the signature of comeback rallies over the past nine months …’
Floyd Norris Blog Housing
Starts: Still Dead NORRIS Home
construction is at a new low, and for good reasons. But wouldn't it be nice to
put all those unemployed people to work building something we need? (New York
Times) [ ‘Wouldn’t it be nice’ … Sounds like a Beach Boys song … then there are
tooth fairies, etc.. The very bad news hardly affects the
fraudulent stock market as we saw in the last hour’s trading with suckers’
rally to keep the suckers sucked in. Then of course, there’s reality, which of
course, is not lost on insiders. A storm gathers over equities markets (Reuters) Stock
Market: 4 Current Warning Signs
Navin ‘…
1) The 5-year high in
the level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s normal for insiders to be selling some
of their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
2) Professor Shiller at
Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16.
3) The failure of the
financial sector to keep up is a significant negative divergence for the entire
market.
4) Key market leaders
are rolling over in price... ‘
Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development (click to enlarge images):
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! Remember: ‘Sell in May and go away! …
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
Financialization
and Our Increasingly Unstable Economy Roche
'The worst part of it ...Obama, who
vowed change, has done almost nothing to fix any of it and in fact continues
most of the policies that helped get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billions from the fraud ). UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black defendants
and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
In
Rust Belt, new jobs but smaller wages The nation’s factories have added
250,000 jobs since the beginning of last year — about 13 percent of what
was lost during the recent recession — marking the first sustained increase in
manufacturing employment since 1997. But the new hiring also reflects another
emerging reality of U.S. manufacturing.
In
the Rust Belt, glimmers of a new shine Stocks
erase declines as shares advance (Washington Post) [ Come on! Wake up! Just another round of
pre-election, make-shift, taxpayer-subsidized talking points. . 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), and have
used the mideast turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Bernanke
prepares to make history (WP) [ He already has! $6 gas acomin’..
hyperinflation as predicted well on the way from over-printing of fiat paper
currency by fed as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009…’
ON MAY 1,
2011, JUST MOMENTS BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED
OSAMA BIN LADEN, THE WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED
DENIAL OF SERVICE ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN
ACTUALLY DIED IN DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T
WANT AVAILABLE WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT
IS POSSIBLE THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A
"REVENGE" ATTACK FROM "AL QAEDA" ON THE UNITED STATES, WITH
WHICH TO JUSTIFY TOTAL WAR ON THE MIDDLE EAST.
Bin
Laden's voice was detected regularly until [12-14-01] by intelligence operatives
monitoring radio transmissions in Tora Bora, according to the Pentagon [details]. Since then,
nothing has been heard from the al-Qa'eda leader ..[Telegraph, 12/28/2001]
Osama bin Laden: A dead nemesis perpetuated by the US government
Osama bin
Laden is dead. The news first came from sources in Afghanistan and Pakistan
almost 6 mos ago: the fugitive died in December [2001] and was buried in the
mountains of southeast Afghanistan. Pakistan's president, Pervez Musharraf,
echoed the information. ..
..Osama
bin Laden would not have.. remained silent for so long if he were still alive.
He always liked to take credit even for things he had nothing to do with …[NYT
7-11-02]
Gentlemen:
I just wanted
to extend to you and your company my sincere thanks for a job well done. The
Dell computer I recently purchased from you has lived up to all your
representations and as well, my own expectations. I bought my first computer
from you (Ben) in or around 1999. It was a Sony Vaio laptop which owing to
Windows Millenium and a very proprietary approach to computing on the part of
Sony, truth be told, was not the greatest system in terms of stability (typical
Millenium problems), but no fault of yours. Ultimately, though functional, I
traded the Vaio for a Mac, an accommodation by your company seldom seen with
other companies if at all (3+ years later). You’ve always stood by your
products / service, are available / accessible to field / handle all questions
/ problems which is rare indeed. In Armand you have a top-notch A+ Certified
Tech who is patient, knowledgeable, and talented. Ruben, in truth has been
particularly instrumental in seeing to a smooth transition in my recent
dealings with your company as a knowledgeable IT Specialist and especially as a
savvy, capable manager. Since 1999 I’ve purchased five computers from you and
based upon performance, the sixth is assured.
Sincerely,
Albert L.
Peia ) ]
Why
Are Investors Fearful? Here are 19 Answers Khaner May 17,
2011 ‘It's hold-your-breath time as investors worry about inflation, housing,
the end of QE2, the Mississipi flood and more.
Selling
In May Is Very Good Advice This Year Harding Stocks
slip after three-day rally (Washington Post) [
Top 3 Reasons Markets Tanked with Oil WSCS…
1) Commodities and Oil
got slaughtered. .. widening trade gap.
2) Insiders finally
getting busted.. but what about what large banks, investment banks, and
mortgage companies did to the US economy…these insider trading cases are
basically sideshows…
Fed
official calls for vigilance (WP)
[ Who’s still buying their
b***s***! Much higher prices / inflation’s already here. 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), and have
used the mideast turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Bernanke
prepares to make history (WP) [ He already has! $6 gas acomin’..
hyperinflation as predicted well on the way from over-printing of fiat paper
currency by fed as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009…’
Pension
plan draws ire of workers Proposal
to raise payroll deductions of federal workers could make public sector work
less attractive.
Diary:
Federal workers are raising the roof Treasury
to tap pensions to fund government (Washington Post) [ Most people thought this to be beyond the
realm of possibility; yet, it’s happening and far worse is yet to come, their
desperation being seen in so many ways. As far as public sector ‘work’ being
less attractive, let’s not forget the fact that these non-productive,
over-paid, over-valued public employees, like those of the u.s. postal service,
are otherwise unemployable, and as such, tend to favor party-campaign
benefactors as, ie., fraudulent wall street, etc.. Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development :
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
…
..Butler|Philbrick & Associates
conducted a study
that combined the Shiller CAPE ratio, the Q-Ratio, long-term price deviations
and total return trends. The following graph from DShort.com
displays 15-year actual stock market returns and projected returns since 1900
..
http://static.seekingalpha.com/uploads/2011/5/14/668911-13054033822883-Erik-McCurdy.png
With a couple of notable
exceptions, actual returns have tracked projected returns almost exactly during
the past 110 years. .. this model projects that stocks will return -0.5% during
the next 10 years and 0.6% during the next 15 years.. stocks are likely to
produce no gains for the next 15 years. .. However, the fact remains that stocks
are priced to deliver historically poor returns as investment vehicles for the
foreseeable future.
While valuation-based
forecasting models project a poor long-term outlook, chart analysis and
internal data also suggest that the stock market has entered a period of
heightened risk from an intermediate-term perspective. ..
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540340946043-Erik-McCurdy.png
The rally is now 26
months old and cyclical
bulls that occur during secular bears..
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540342919514-Erik-McCurdy_origin.png
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540344803643-Erik-McCurdy_origin.png
http://static.seekingalpha.com/uploads/2011/5/14/668911-13054034630148-Erik-McCurdy_origin.png
http://static.seekingalpha.com/uploads/2011/5/14/668911-13054034630148-Erik-McCurdy.png
Finally, our sentiment
score recently declined to the lowest level since late 2007, reflecting an
excessive amount of bullish sentiment that leaves the stock market vulnerable
to an abrupt, violent decline.
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540347838945-Erik-McCurdy_origin.png
A storm gathers over equities markets (Reuters) Stock
Market: 4 Current Warning Signs
Navin ‘…
1) The 5-year high in
the level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s normal for insiders to be selling some
of their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
2) Professor Shiller at
Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16.
3) The failure of the
financial sector to keep up is a significant negative divergence for the entire
market.
4) Key market leaders
are rolling over in price... ‘
Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development (click to enlarge images):
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! Remember: ‘Sell in May and go away! …
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar
ON MAY 1,
2011, JUST MOMENTS BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED
OSAMA BIN LADEN, THE WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED
DENIAL OF SERVICE ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN
ACTUALLY DIED IN DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T
WANT AVAILABLE WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT
IS POSSIBLE THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A
"REVENGE" ATTACK FROM "AL QAEDA" ON THE UNITED STATES, WITH
WHICH TO JUSTIFY TOTAL WAR ON THE MIDDLE EAST.
Bin
Laden's voice was detected regularly until [12-14-01] by intelligence
operatives monitoring radio transmissions in Tora Bora, according to the
Pentagon [details]. Since then,
nothing has been heard from the al-Qa'eda leader ..[Telegraph, 12/28/2001]
Osama bin Laden: A dead nemesis perpetuated by the US government
Osama bin
Laden is dead. The news first came from sources in Afghanistan and Pakistan
almost 6 mos ago: the fugitive died in December [2001] and was buried in the
mountains of southeast Afghanistan. Pakistan's president, Pervez Musharraf,
echoed the information. ..
..Osama
bin Laden would not have.. remained silent for so long if he were still alive.
He always liked to take credit even for things he had nothing to do with …[NYT
7-11-02]
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Defacto bankrupt,
fraudulent america also spends more on military spending than all the nations
of the world combined... federal employees / contractors, cia, all 3 branches
of the u.s. government, etc., are included in this evolved american trait of
inherent criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ). That
perverse field of dreams I’ve previously alluded to, the american nightmare, if
you build / contrive war, they will come. And, they do; seals of them (among
others); and when their ‘tours’ are done, it’s murder inc./contract killing for
hire that they’ve won (cia, mob, etc.). The 20th century, the ‘bloodiest
century’, not coincidentally referred to as the american century, brings
longings of nostalgia to american criminals who, like Pavlov’s dogs salivate at the prospect of killing, raping, pillaging, and plundering
which primitive mindset they have mistakenly been conditioned to connect to
their now irretrievably lost success as a nation state; and to the contrary,
has become globally and domestically self-destructive / self-defeating. The
entire 911 / Bin Laden scenario just doesn’t pass the smell test and reeks of
political desperation and Orwellian opportunism.
For a people to be free,
they must first be honest with themselves, their government, and the world at
large. History is filled with stories of free nations that fell under the spell
cast by their governments who exploited the threat of terror…
1. Rule by force, not by law: This is
where it all begins; when the legal framework that serves to define a country
and its behavior is dismantled and intimidation tactics take
over. In the most extreme case, drone bombings and assassinations have
begun of non-citizens, as well as U.S. citizens, leading only to a
debate over whether U.S. citizens should be stripped of citizenship before
assassination. Governmental assassinations are in complete opposition to
the laws of America and all international laws
and agreements. In the last week we have also seen the official elimination of the 4th Amendment
in Indiana, which is a clear precedent-setting ruling to say that the State now
believes that it owns the property and person of its citizens. As a
result, the militarized police have been
granted unlimited access, which will only cause an escalation in cases of
police brutality and misconduct. This is yet another addition to the
precedent set by TSA groping and sexual harassment
in airports, Child Protective Services kidnapping children of activists
in pro-liberty causes, public school surveillance, and the lawless
detention of activists who videotape the police. All
areas of society are now ruled top-down through state legislation adopted to
justify federal grants that have installed a police state apparatus in
America. And these federal agencies such as the TSA actually believe they rule supreme over the
states. We now live in a country where CIA abductions, overseas
detention, torture and assassinations can be carried out against Americans without
due process and without recourse if later cleared.
Consequently, an atmosphere has been created where the government is
permitted to break countless laws, like warrantless GPS tracking of activists by the
FBI, while average citizens are guilty of pre-crimes. The increase in
executive power under the aegis of National Security is our greatest threat and
has led to all that follows.
2. Crushing peaceful protest: Despite
the current mission to defend
protesters living in dictatorships overseas, when George Bush brought “free
speech zones” to America it effectively spelled the end of peaceful, lawful
street protest. Now the full force of brutality and surveillance has been
unleashed upon the very people intent in stopping it through peaceful
means. It is as sure a sign as any about totalitarian intentions, when anti-war activists have become
one of the targets. The activist is beginning to equal terrorist in the
all-seeing eye of the State, and any street gathering is a sure sign to let
loose all of the riot weapons that were formerly used against insurgents on
foreign battlefields. One look at the G20 protest in Pittsburgh,
a recent Illinois University event, and
the ongoing travesty of the torture and incarceration of
Bradley Manning, and we can begin to see through the propaganda of White House
officials when they talk about terrible dictators in other nations crushing
dissent.
3. Checkpoints: The slow acclimation of
the populace to military-style checkpoints began first as border control operations up to
100 miles inland in what the ACLU calls the Constitution Free Zone.
However, this has rather quickly morphed into local traffic stops across the
country for “unsavory” characters such as those targeted by the Amber Alert
system and DUI checkpoints. Though apparently well meaning, we are now
far beyond even loosely suspected criminal activity, as VIPR teams have been introduced
to take over public transportation
and events. The TSA tyranny has hit the streets of America, now forming a
de
facto internal passport
system straight out of the totalitarian playbook. The expanding
checkpoint system dovetails with new initiatives such as the No Ride List proposal of Chuck
Shumer, building upon the No Fly List already in
place. These no-travel lists are extrajudicial, secret, and form a
guilty-until-proven innocent framework that subverts freedom instead of
protecting it. Incidentally, this element of constant suspicion is
exactly what leads to a citizen spy network.
4. Citizen spy network: Dictatorships
know how difficult it is to rule over large populations with only the
relatively small numbers of military and police. Despite the lessons of terror
created by citizen surveillance that the East German Stasi files left
us to examine, just such a network has been openly introduced to present-day
America — and now it’s even more high-tech and populated. Secret black
budget projects organized through the NSA like Perfect Citizen is just one among
many. Our head of Homeland Security, Janet Napolitano — in partnership
with retailer Wal-Mart – kicked off the See Something, Say Something
program, which goes beyond the already high-tech surveillance apparatus of the
NSA and turns each of us into an unpaid employee of the police state.
Similarly, the web of cameras and data mining is far too massive for even the
well-funded NSA, but with gadgets at our disposal we can now download apps to enable spying on our
neighbors. Most dangerous of all, though, is new legislation introduced
by Peter King that enshrines Janet Napolitano’s program and would provide immunity for accusers
“acting in good faith” while reporting suspicious activities. This is
guaranteed to lead to false arrests and disappearances, just as it has on every
occasion throughout history when a society’s fear becomes self-directed.
5. Executive Orders: This is means by
which a dictator can come to power in the United States, despite a framework of
checks and balances. Any time a country has centralized its power to the
executive branch by erasing the checks and balances of separate legislative and
judicial bodies, the result has been dictatorship. And this normally
happens when national security is “threatened.” The Constitution is
clear, however: only the legislature (Congress) can make laws. Yet, the use
of Executive Orders has increased, beginning with President Clinton who came
under fire for his abuse of this power, becoming one of only two presidents
(the other was Truman’s E.O. 12954) to have an Executive Order struck down by
the courts. His successors seem only to have been encouraged. Clinton issued
14, George W. issued over 60, and Obama is at 26 with many more to be expected
if he wins a second term. Among the most egregious of Obama’s orders is the
ability to hold detainees indefinitely
even after a court has found them not guilty. Executive Orders also form
the basis for control over regulatory agencies, which then impose the
directives. While it seems multi-layered with potential checks and
balances, all directives can now be issued top-down in dictatorial fashion.
6. Control of regulatory agencies: This
is the more insidious and, ultimately, dangerous tactic used by
dictatorships. Dictatorship through regulation invades every facet of society without
relying only upon overt violence. As mentioned above, only the
legislature can make laws. However, the legislature has created
“regulatory bodies” which make de facto laws through “violations” that rob us of
freedom. There is no clearer example at the moment than the FDA, which
has brought in near-total food control. The FDA is
working in concert with a global agenda being foisted upon us through the Codex Alimentarius commission in
Europe which essentially renders anything healthy as toxic, and all that is
toxic as healthy. Regulatory agencies in the United States have
engendered a system where the corporate-government revolving
door leads to corruption and consolidation — not free markets. The
current regulations are opposed to the principles of freedom and independence,
and favor only those in positions to make money from more control; so more
control and less freedom is what we can expect under these federal directives
controlling the states.
7. President declares war unilaterally:
Despite the parade of lies that led to
wars in Iraq and Afghanistan, it pales in comparison with the new war in Libya
and other interventions and sanctions throughout the Middle East and North
Africa. Through Executive Orders, outlined above, the President can
declare war so long as there is a resolution passed by Congress. This has
been dispensed with through Obama’s
illegal wars, and it appears that Congress could go even
further by ceding its power completely to the president. The disregard
for Congressional approval is already dictatorial, but if this last step is
taken we will effectively be living in a permanent state of war tantamount
to WWIII that will be controlled at the sole discretion of the current and
future presidents. This unilateral power to drag nations into war without
checks and balances is a hallmark of dictatorships where entire countries are
swept along purely by the ideology of their leader. As Ron Paul and Lew
Rockwell have stated, “We have a
dictatorship when it comes to foreign policy.” With the latest
development, it is actually a dictatorship when it comes to domestic policy as well, since
America’s espionage network has turned inward, and this new presidential power
would not be limited to overseas actions.
8. Torture: Torture has long been a
tactic used by America. In fact it runs the leading school on its
methods. The School of the Americas has been
responsible for training Latin American dictators and their thugs on how to
intimidate the local population and rule with an iron fist. However, the
torture debate has hit mainstream media in a serious
discussion about its effectiveness, especially following the assassination of
Osama bin Laden. Aside from the despicable morals involved, torture doesn’t work for
intelligence gathering, according to experts. Furthermore, the
legalization of torture was what really brought the dreaded Russian secret police out into
the open. When such a declaration is made, it is literally a recruiting
strategy to find the criminals and sadists who would love to be part of such a
system. Torture is not normal work for normal people; it is the work of
psychopaths such as Dick Cheney who loves the tactic
of waterboarding so much that he has stated it should be brought back and used
more widely. No nation that uses torture to obtain confessions can be
called legitimate. It is only used as a tool of intimidation and oppression by
totalitarian regimes.
9. Forced labor camps (gulags): This is
when we know that a totalitarian society has arrived in full and our society is
run completely by coercion. As Naomi Wolf has illustrated, “With
its jails in Iraq and Afghanistan, and, of course, Guantánamo in Cuba, where
detainees are abused, and kept indefinitely without trial and without access to
the due process of the law, America certainly has its gulag now.”
Additionally, a silent gulag has already been created inside America, starting
with the nation’s prisoners who are increasingly locked up within a for-profit prison-industrial
system that makes money both on the construction of prisons as well
as the cheap labor force. The
Defense Department itself pays prisoners 23 cents per hour to build its
weapons systems, which is clearly a type of slave labor. One might
immediately argue that there is a huge difference between real prisoners and
innocent people swept off the streets as they were in Stalinist Russia, for
example, or in modern day North Korea and China. That is to presume,
however, that everyone in prison is guilty; and, if they are, that the crimes
which have sent them there really constitute offenses worthy of prison sentences.
America has the world’s largest prison population
and the highest incarceration rate
precisely because nearly everything is a jail-time crime, and there is money to
be made by the growing corporate prison system. The War on Drugs alone
has led to a disproportionate number of inmates for non-violent offenses among
the already 2.4 million in jail and the 5 million on probation. With the
economy imploding, even debtors
prisons have made a comeback. Although FEMA camps are still
relegated to fringe conspiracy theory, we should be
wary of the potential endgame for such a proven system of oppression.
Through Continuity of Government,
national emergency directives would openly suspend the Constitution and could possibly
lead once again to internment camps in
America.
10. Control over all communications (propaganda):
Once the physical framework of dictatorial control has been set up, then the
justification for its continued presence can commence. The type of
high-tech control grid now put into place in The United States to this point
has only been explored in works of fiction such as 1984, which has
led Paul Craig Roberts to draw a
correct parallel. A public emergency announcement system has in fact been
in place since the ’50s, whereby the president can interrupt television and
radio to deliver critical messages. However, this has been recently
expanded as the FCC voted to mandate (PDF) “the
first-ever Presidential alert to be aired across the United States on the
Nation’s Emergency Alert System (EAS),” Now, with the arrival of the
trackable smartphone that can be hijacked to bring
government messages (emergency or not) we find ourselves “willing” participants
in a scenario reaching far beyond 1984. Using the bin Laden assassination and the
threat of guaranteed reprisal, the government has announced that the president
will break into these private networks to carry PLAN government messages and
warnings; and there is no opt-out. At the same time, we have seen the buildup
in rhetoric leading toward Internet control. As
always, an unsavory element of society (pirating) has been used as one of the
pretexts to introduce government control over private industry, while
cybersecurity lays claim to total control over the infrastructure for national
emergencies. Ideologically, Obama advisor, Cass Sunstein, has proposed a fairness doctrine for the
Internet that would enable a government overlay on private websites that would
offer counter opinions to anti-establishment content. We are approaching
a situation worse than China, where both
mental intrusion via propaganda and physical intrusion via systems control are
merging. It is not comforting to know, also, that the president made a
shocking claim recently that he
can censor unclassified documents. There is clearly a
concerted effort to take over all forms of information, permitting the
government to alter it or censor it before consumption by its citizens.
In any other country we would call this a dictatorship.
It would appear that the
United States should be a called a dictatorship based on the above criteria.
Once the atmosphere is established, average participants need not be part of a
conspiracy, as they tend to unquestioningly go with the flow. However, we
must acknowledge that the U.S. is in a vastly different position than
totalitarian regimes of the past, as well as her contemporaries. America has a
history that is built upon the foundation of resistance to dictators.
This memory needs to be invoked by following the protections outlined in our
founding documents, particularly the power of the states to resist Federal
tyranny. The protections therein can be restored once we have the courage
to admit how much freedom we have lost, then refuse to succumb to a fear-based
perception of reality. Only then will Liberty, Love and Peace prevail!’
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
Selling
In May Is Very Good Advice This Year Harding Stocks
slip after three-day rally (Washington Post) [
Top 3 Reasons Markets Tanked with Oil WSCS…
1) Commodities and Oil
got slaughtered. .. widening trade gap.
2) Insiders finally
getting busted.. but what about what large banks, investment banks, and
mortgage companies did to the US economy…these insider trading cases are
basically sideshows…
Fed
official calls for vigilance (WP)
[ Who’s still buying their
b***s***! Much higher prices / inflation’s already here. 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating long-term
economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), and have
used the mideast turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Bernanke
prepares to make history (WP) [ He already has! $6 gas acomin’..
hyperinflation as predicted well on the way from over-printing of fiat paper
currency by fed as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009…’
Pension
plan draws ire of workers Proposal
to raise payroll deductions of federal workers could make public sector work
less attractive.
Diary:
Federal workers are raising the roof Treasury
to tap pensions to fund government (Washington Post) [ Most people thought this to be beyond the
realm of possibility; yet, it’s happening and far worse is yet to come, their
desperation being seen in so many ways. As far as public sector ‘work’ being less
attractive, let’s not forget the fact that these non-productive, over-paid,
over-valued public employees, like those of the u.s. postal service, are
otherwise unemployable, and as such, tend to favor party-campaign benefactors
as, ie., fraudulent wall street, etc.. Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development :
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
…
..Butler|Philbrick & Associates
conducted a study
that combined the Shiller CAPE ratio, the Q-Ratio, long-term price deviations
and total return trends. The following graph from DShort.com
displays 15-year actual stock market returns and projected returns since 1900
..
http://static.seekingalpha.com/uploads/2011/5/14/668911-13054033822883-Erik-McCurdy.png
With a couple of notable
exceptions, actual returns have tracked projected returns almost exactly during
the past 110 years. .. this model projects that stocks will return -0.5% during
the next 10 years and 0.6% during the next 15 years.. stocks are likely to
produce no gains for the next 15 years. .. However, the fact remains that
stocks are priced to deliver historically poor returns as investment vehicles
for the foreseeable future.
While valuation-based
forecasting models project a poor long-term outlook, chart analysis and
internal data also suggest that the stock market has entered a period of
heightened risk from an intermediate-term perspective. ..
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540340946043-Erik-McCurdy.png
The rally is now 26
months old and cyclical
bulls that occur during secular bears..
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540342919514-Erik-McCurdy_origin.png
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540344803643-Erik-McCurdy_origin.png
http://static.seekingalpha.com/uploads/2011/5/14/668911-13054034630148-Erik-McCurdy_origin.png
http://static.seekingalpha.com/uploads/2011/5/14/668911-13054034630148-Erik-McCurdy.png
Finally, our sentiment
score recently declined to the lowest level since late 2007, reflecting an
excessive amount of bullish sentiment that leaves the stock market vulnerable
to an abrupt, violent decline.
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540347838945-Erik-McCurdy_origin.png
A storm gathers over equities markets (Reuters) Stock
Market: 4 Current Warning Signs
Navin ‘…
1) The 5-year high in
the level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s normal for insiders to be selling some
of their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
2) Professor Shiller at
Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16.
3) The failure of the
financial sector to keep up is a significant negative divergence for the entire
market.
4) Key market leaders
are rolling over in price... ‘
Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development (click to enlarge images):
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! Remember: ‘Sell in May and go away! …
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler
Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar
ON MAY 1,
2011, JUST MOMENTS BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED
OSAMA BIN LADEN, THE WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED
DENIAL OF SERVICE ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN
ACTUALLY DIED IN DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T
WANT AVAILABLE WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT
IS POSSIBLE THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A "REVENGE"
ATTACK FROM "AL QAEDA" ON THE UNITED STATES, WITH WHICH TO JUSTIFY
TOTAL WAR ON THE MIDDLE EAST.
Bin
Laden's voice was detected regularly until [12-14-01] by intelligence
operatives monitoring radio transmissions in Tora Bora, according to the Pentagon
[details]. Since then,
nothing has been heard from the al-Qa'eda leader ..[Telegraph, 12/28/2001]
Osama bin Laden: A dead nemesis perpetuated by the US government
Osama bin
Laden is dead. The news first came from sources in Afghanistan and Pakistan
almost 6 mos ago: the fugitive died in December [2001] and was buried in the
mountains of southeast Afghanistan. Pakistan's president, Pervez Musharraf,
echoed the information. ..
..Osama
bin Laden would not have.. remained silent for so long if he were still alive.
He always liked to take credit even for things he had nothing to do with …[NYT
7-11-02]
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Defacto bankrupt,
fraudulent america also spends more on military spending than all the nations
of the world combined... federal employees / contractors, cia, all 3 branches
of the u.s. government, etc., are included in this evolved american trait of
inherent criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ). That
perverse field of dreams I’ve previously alluded to, the american nightmare, if
you build / contrive war, they will come. And, they do; seals of them (among
others); and when their ‘tours’ are done, it’s murder inc./contract killing for
hire that they’ve won (cia, mob, etc.). The 20th century, the ‘bloodiest
century’, not coincidentally referred to as the american century, brings
longings of nostalgia to american criminals who, like Pavlov’s dogs salivate at the prospect of killing, raping, pillaging, and plundering
which primitive mindset they have mistakenly been conditioned to connect to
their now irretrievably lost success as a nation state; and to the contrary,
has become globally and domestically self-destructive / self-defeating. The
entire 911 / Bin Laden scenario just doesn’t pass the smell test and reeks of
political desperation and Orwellian opportunism.
ON MAY 1, 2011, JUST MOMENTS BEFORE
PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED OSAMA BIN LADEN, THE
WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED DENIAL OF SERVICE
ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN ACTUALLY DIED IN
DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T WANT AVAILABLE
WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT IS POSSIBLE THAT
THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A "REVENGE" ATTACK FROM
"AL QAEDA" ON THE UNITED STATES, WITH WHICH TO JUSTIFY TOTAL WAR ON
THE MIDDLE EAST… [ infra, for article text ]]
Stock
Market: 4 Current Warning Signs
Navin ‘No one indicator by itself can be trusted. Many indicators
taken as whole, however, can offer valuable guidance when a clear pattern
develops. Right now, that guidance appears to warn about current conditions.
1) The 5-year high in
the level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s normal for insiders to be selling some
of their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
2) Professor Shiller at
Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16. Although p/e’s can
remain elevated for longer than you would imagine, reversion to the mean
eventually takes place. Such a reversion would knock off almost 40% of current
price. From today’s level, that would put the S&P 500 at about 800.
Some shake their heads when I mention this, but it wasn’t too many
months ago that we just broke above that.
3) The failure of the
financial sector to keep up is a significant negative divergence for the entire
market. Tom
Aspray’s charts demonstrate the unfortunate price patterns of some big
banks. I’ve
mentioned this as well, previously. It’s hard to imagine how much further a
rally can go without support from financials.
4) Key market leaders
are rolling over in price. Take a look at Google (GOOG),
one of the hottest stocks going in the recent rally. It appears to have
peaked in January and is unable to set new highs even as the S&P continued
upward. GOOG’s 50-day
moving average has turned downward and has crossed below the 200-day moving
average. This is a significant change of trend. ‘
AIG
to sell Treasury shares The government soon will begin unloading its 92.1
percent ownership stake in the bailout company. (Washington
Post) [ Who’s the unlucky sucker? Ultimately, a pension fund or two or three,
etc., or maybe you or an equally unlucky member of your family. Stock
market on a roll despite slowing economic growth, lingering
unemployment[Also known as reality! Roll … yes, indeed … everyone’s to get
rolled! ] (WP) Dow is up more than 10 percent for 2011, to its highest
point in nearly three years. [ Same bubble scenario preceeding last crash
(including currency manipulation); yet, far worse this time owing to
insurmountable debt and defacto bankruptcy of the nation. Fed
Chairman Bernanke does reality TV
(WP) [ Except the ‘NO-RECESSION HELICOPTER BEN B.S. BERNANKE’ show is
scripted unreality … even with his reduction in estimate for ‘economic growth’,
the frauds on wall street still rallied.
Bernanke
prepares to make history (WP) [ He
already has! $6 gas acomin’, $1,508+ gold, $46+ silver, other commodities at
record levels, hyperinflation as predicted well on the way from over-printing
of fiat paper currency by fed as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are the
2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
·
The extended
(and then further extended) unemployment benefits have kept an artificially
higher demand for consumer consumption. As a result, the US government has
artificially subsidized corporate profits.
·
The billions
saved through “free loading” by homeowners who have defaulted on their
mortgages yet maintained their residence, thus living without a mortgage
payment.
·
The
artificially suppressed interest rates...
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
24 Signs Of
Economic Decline In America ‘The United States is in the middle of a
devastating long-term economic decline’ ]
States
face shortfall for retirees ]
Getting Defensive in Equities, Aggressive in Fixed Income The Simple Accountant ‘In last week’s outlook we
recommended staying with defensive sectors and fixed income, avoiding commodity
related stocks, and waiting for a bounce before selling commodities short.
Let’s have a look at how those tactics worked, and then try to anticipate what
the next week’s trading might look like.
Week in Review
Stocks: The major US indexes were little changed on
contracting volume. On Friday the SPX (SPY)
closed below the key short term level of 1340, with which it had been flirting
for over a week. S&P sector action showed a third consecutive week of
defensive rotation as investors moved out of commodity linked stocks and into
perceived safety. Healthcare, consumer staples and utilities led the way again,
while the shares of companies leveraged to economic expansion fell. Financials
were the real laggard, dropping more than 2% on weakness in bank stocks.
Although non-bank blue chip stocks like American Express (AXP)
and Travelers (TRV) have been solid, the financial
sector SPDR (XLF) is now down year to date, and
with a meager yield, its total return is none too impressive.
In foreign stock markets, the MSCI EAFE index dropped more than 2% for a second
consecutive week on broad weakness in the UK, Europe and Japan, but emerging
markets fared a little better thanks to support in Shanghai and strength in
smaller Asian markets such as Singapore and Thailand.
Bonds: The run of falling
Treasury yields across the curve was finally broken, as bond trading was a
mixed bag last week. Rates at the short and long end rose, but fell slightly in
the middle. TIPs were marked down a little and corporate issues did nothing
much, in either investment grade or junk ratings. All in all, nothing to make us
excited except munis, which have been on a nice little run since early April.
Some of the European bond markets were a bit more active on the downside, for
the obvious reasons, but emerging market bonds posted modest gains.
Commodities: After heavy losses
in the previous week, commodities found some bids as bargain hunters came in to
buy, but trading was volatile. Gold, silver and oil saw the most action and
buying interest, but copper and the grains continued to extended previous
losses, with the former breaking the 200 day MA and the latter sitting just
above. If you subscribe to the theory that copper prices are a leading
indicator for the economy, this is worth noting.
Currencies: The US Dollar index
recorded another week of gains, breaking the 50 day MA to finish at 75.78 at
Friday’s close. The euro index sold off again but remains above the 140 level
for now. The Aussie and Canadian dollars both fell but remain above parity to
the greenback at 105.76 and 103.26 respectively. Yen was off slightly.
The Week Ahead
Stocks: With earnings season
largely behind us, the market is looking at the macro picture and getting
defensive. Even the normally bullish Ken Fisher is quoted by Reuters as saying
“expectations for the stock market are a bit on the high side” (contrary to
popular belief, Fisher is not a perma-bull and actually makes some good calls
on the market). Certainly there are signals that have to give us cause for
concern:
This is potentially a
stagflationary brew, but it has been with us for some time, and stocks have
overcome it to this point. Why should it be different now? Ken Fisher hit on
the concern: we’ve come a long way since the March 2009 bottom,and many stocks
are priced, not for perfection, but for much less forgiving forward growth
expectations. Perhaps it should not surprise us that defensive sectors are
leading the market, as the broader indexes struggle to make headway.
Last week we said investors need to start adapting to a new market environment
which is likely to be more volatile, and would place a premium on stock
selection, sector rotation and timing. We detailed some of that movement above
in our review of last week: while XLF is down 1% year to date, TRV is up over
12% and AXP more than 16%. To give another example, if you are in stocks
through an index vehicle like SPY, you’re up only 6.5%, but XLV is up 14.5% and
XLP 9.5%.
It may seem like we are cherry picking results like these in hindsight, but the
simple point is this: Whatever method you use, have a plan and hold leading
stocks and sectors that are acting well, and sell those that aren't. This is
particularly important in tax advantaged accounts. Even if you pick up only 2-3
extra points a year net of expenses this will help to build your portfolio in
the long run.
click on all charts to enlarge:
http://static.seekingalpha.com/uploads/2011/5/14/220228-130541053554117-The-Simple-Accountant.png
Bonds: So far so good for bond holders. Our analysis for
some time has been that we like what we have bought at attractive
yield-on-cost, but it’s getting quite difficult to find reasonable yield for
new money at current prices. Among popular bond ETFs, a buyer at last week’s
closing price would only get around 2.5% in AGG, 3.2% in TLT and 3.5% in LQD. Not very
impressive and difficult to produce an attractive income stream at those rates
so, as with equities, we have been forced to adapt to the market environment.
My strategy going forward in the fixed income portfolio is going to shift to
more active management. We will be adding high yield and preferred securities
but with a very strict sell discipline to preserve capital. Sometimes the
market just makes you work harder for your money.
http://static.seekingalpha.com/uploads/2011/5/14/220228-130541104590747-The-Simple-Accountant_origin.png
Commodities: We’ve seen a big
selloff followed by some developing support in the hottest commodity sectors.
My take on this action is that it’s still a short term trader’s market, and
since that’s not my style, they can go at it while I stay on the sidelines. For
me the real signals are in the industrial metals: aluminum, copper and steel,
and in the grains. Those are signaling weakness. On a fundamental level
commodities are still expensive, and with signs that near term growth may be
slowing, there is room for prices to fall farther. On a longer term macro
level, I have little doubt the price trend will be up, which is why my strategy
as stated last week is not to short commodities but to look for more attractive
prices to go long. We’re not there yet, not even close.
http://static.seekingalpha.com/uploads/2011/5/14/220228-130541126175833-The-Simple-Accountant_origin.png
Currencies: We have a
developing rally in the US Dollar index with the close above the 50 day and the
recent down trend broken. There is plenty of skepticism but on both a
fundamental and a technical basis it seems to me this move could have legs.
Fundamentally, I have long been a euro skeptic and see nothing to change my
view there - the news only gets worse over time. With China actively draining
excess liquidity and the impending end of QE in the US, the commodity
currencies are early in an overdue correction. Japan is under pressure to cap
the rise in the Yen. With this landscape, we have a reasonable possibility of a
78 - 82 range for the Dollar index this summer.
http://static.seekingalpha.com/uploads/2011/5/14/220228-130541158885356-The-Simple-Accountant_origin.png
Disclosure: I have no positions
in any stocks mentioned, and no plans to initiate any positions within the next
72 hours
Market's
Risk/Reward Ratio Remains Poor McCurdy ‘The S&P 500 index has been in a
secular bear market since 2000 and our Secular
Trend Score (STS) indicates that we remain in the middle stage of its
development (click to enlarge images):
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540693393499-Erik-McCurdy_origin.png
The STS has yet to even
approach positive territory since the last secular sell signal was issued in
late 1999, suggesting that the start of the next secular bull market is still
several years away. Highly reliable valuation-based models that forecast future
market returns using data such as the Shiller cyclically-adjusted
price-to-earnings (CAPE) ratio confirm the long-term outlook provided by our
STS.
For example, Adam Butler
and Mike Philbrick of Butler|Philbrick
& Associates conducted a study
that combined the Shiller CAPE ratio, the Q-Ratio, long-term price deviations
and total return trends. The following graph from DShort.com
displays 15-year actual stock market returns and projected returns since 1900
using the Butler/Philbrick model.
http://static.seekingalpha.com/uploads/2011/5/14/668911-13054033822883-Erik-McCurdy.png
With a couple of notable
exceptions, actual returns have tracked projected returns almost exactly during
the past 110 years. Currently, this model projects that stocks will return
-0.5% during the next 10 years and 0.6% during the next 15 years. In other
words, stocks are likely to produce no gains for the next 15 years. Of course,
the stock market is likely to go nowhere in an interesting way, experiencing
violent advances and declines as the secular bear market moves into the final
phase of its development. However, the fact remains that stocks are priced to
deliver historically poor returns as investment vehicles for the foreseeable
future.
While valuation-based
forecasting models project a poor long-term outlook, chart analysis and
internal data also suggest that the stock market has entered a period of
heightened risk from an intermediate-term perspective. The current cyclical
bull market from March 2009 has been an extreme move, resulting in a doubling
of the S&P 500 index during the course of 24 months.
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540340946043-Erik-McCurdy.png
The rally is now 26
months old and cyclical
bulls that occur during secular bears have an average duration of 33
months. The last cyclical uptrend that followed a market crash occurred in 1974
and had a duration of 23 months, so it would not be unusual for the current
advance to terminate during the next few months.
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540342919514-Erik-McCurdy_origin.png
Additionally, market
internals continue to negatively diverge from price behavior, indicating that
the rally is gradually losing buying support. For example, volume summation
continues to hold near recent lows following the sharp decline in February and
breadth summation has been moving sideways for the past year.
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540344803643-Erik-McCurdy_origin.png
http://static.seekingalpha.com/uploads/2011/5/14/668911-13054034630148-Erik-McCurdy_origin.png
http://static.seekingalpha.com/uploads/2011/5/14/668911-13054034630148-Erik-McCurdy.png
Finally, our sentiment
score recently declined to the lowest level since late 2007, reflecting an
excessive amount of bullish sentiment that leaves the stock market vulnerable to
an abrupt, violent decline.
http://static.seekingalpha.com/uploads/2011/5/14/668911-130540347838945-Erik-McCurdy_origin.png
Valuation-based forecasting
models leave little doubt that stocks are priced to deliver very poor long-term
returns and the cyclical bull market from 2009 is an extreme move that will
almost certainly be followed by a violent correction. At a current duration of
26 months, the cyclical uptrend has reached the age range within which rallies
typically end when they occur during secular bear markets and market internals
and sentiment are not supportive of additional gains, so stocks currently offer
a poor risk/reward ratio as both investing and trading vehicles.’
Market
Outlook: Are We Dealing With Ursa Major or Ursa Minor?
Red
Flags Everywhere Nyaradi ‘Red flags are flying everywhere as we travel farther
into the “sell in May and go away” period of the year.” We remain in a
defensive posture and continue to enjoy unrealized gains in our inverse ETF
positions and put options.
On My Radar
Volatility was the name
of the game last week and we can expect more ahead as we enter the seasonally
difficult “worst six months of the year” according to the “sell in May and go
away” slogan.
The View From
35,000 Feet
Lots of exciting things
are going on around us as we head into late spring.
Here’s just a quick
executive summary with my thoughts in parenthesis:
1. United States will reach its debt ceiling limit on
Monday. (This one is making markets really nervous as witnessed
by Friday’s action.) Everyone expects Congress to raise the ceiling but the
Republican and Tea Party insistence on meaningful budget cuts first puts an
unusual level of stress on this round of talks and turns it into a very high
stakes game of chicken.
2. On Friday it was announced that Medicare and Social
Security are in worse shape than previously thought and will be unable to cover
their current obligations earlier than expected. Medicare is
expected to be out of money by 2024, five years earlier than expected, Social
Security will exhaust its trust by 2036 and the disability insurance program
will be underwater by 2018. (No surprises here and this ties back to item #1 as
it’s going to get ugly no matter what Congress does or doesn’t do.)
3. The commodity selloff continues as the dollar gains.
(Much of the recent rally in commodities and equities was fueled by the Fed
easy money policy and weaker dollar. With QE2 coming to an end and a possibly
stronger dollar ahead, this could be a game changer for “buy the dip”
strategies in both asset classes.)
4. There has been a significant rotation into
“defensive” sectors like utilities and consumer stocks. (This
typically indicates money leaving “risk” assets and often portends market
declines)
As I mentioned at the
outset, “sell in May” is a proven, valid slogan because statistically the
months from the end of October through the end of April, are in fact the best
months of the year for investing while the six months from May through October
are the “worst.”
One of the best sources
of information on this subject comes from my friend, Jeffrey Hirsch, at “Stock Trader’s Almanac” where
he has developed a trading indicator based on this seasonality and the
historical returns it has generated.
Let’s take a look at
some of “Stock Traders Almanac’s” findings:
Finally for the
week, one of the most sobering reports that received wide coverage in the
blogosphere and mainstream media was the announcement by well known and widely
respected analyst Jeremy Grantham who said that the market is currently 40%
overvalued which would relate to 920 on the S&P 500 and that the current
environment was too high risk for a prudent investor.
Weekly
Developments:
Positive: Initial unemployment claims declined, continuing
claims were mostly flat, and Michigan Consumer Sentiment rose to 72.4 from 69.8
Negative: Consumer prices and producer prices both rose
substantially, indicating that inflation might be coming back more into the
picture (we have been expecting this for sometime) and retail sales, although
posting a gain, came in lower than the previous month’s report and below
expectations, indicating ongoing weakness in the all important consumer sector.
What This All Means
To You
What this means to us is
that risk is running high in the markets and the chance of a significant
correction is relatively high for the period between here and Halloween.
Fundamentals continue to weaken and technical indicators are flashing red. The
reduction of support by Dr. Bernanke and his colleagues at the Fed is a major
factor going forward from here and could yield significant volatility and
downward pressure in equities and commodities.
The Week Ahead
Major
Issues/Themes: Lots of
important economic reports will come our way this week and be potential market
movers, but the big thing to pay attention to is what happens in Congress with
the budget negotiations and how markets respond to those talks and Treasury
Secretary Geithner’s “extraordinary” measures to keep the U.S. from default
between now and the early August drop dead date.
Monday: May Housing
Market Index,
Tuesday: April Housing
Starts, April Building Permits, April Industrial Production
Thursday: Initial
Unemployment Claims, Continuing Claims, April Existing Home Sales, May
Philadelphia Fed, April Leading Indicators
Sector Spotlight
Leaders: (NYSEArca: EPU) Peru, (NYSEArca: IBB) Biotech
Laggards: (NYSEArca: TUR) Turkey,
(NYSEArca: EWP) Spain’
This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! Remember: ‘Sell in May and go away! …
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog | It’s now mainstream
news that none of the big financial criminals have been prosecuted. This is the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler ( I quite agree … overvalued to the
hilt in this new manipulated bubble … at
the least a 'sell in May and go away', but 'don't be mentally ill, sell in
April!' ) Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... the cause and the potential
ramifications of this are
astounding. . According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble. [chart http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png ]
Exhibit 2: The Q
ratio, which measures total market value compared to its replacement cost.
The Q-ratio data in the chart below dates back to 1900. According to the data, the markets have now surpassed the 1929 peak valuation by over 8%.
[chart http://static.seekingalpha.com/uploads/2011/4/12/saupload_q_ratio_thumb1.png ]
… bubbles turn a believable story/trend into an overvaluation. In the 1700s
during the South Sea Bubble...Railroading prospects induced a bubble in the
late 1800s ... In the 1920s, a bubble …
A similar life-changing invention – the Internet – swept the attention of
investors in the 1990s ...
What is the story today?
The prospect of inflation? High unemployment?
Exhibit 3: The gap
between projected 12-month earnings against the 10-year average
... the market is
stretching this reversion greater than 2000 and 2007!
[chart http://static.seekingalpha.com/uploads/2011/4/12/saupload_gap_between_12_month_average_thumb1.png ]
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
·
The extended
(and then further extended) unemployment benefits have kept an artificially
higher demand for consumer consumption. As a result, the US government has
artificially subsidized corporate profits.
·
The billions
saved through “free loading” by homeowners who have defaulted on their
mortgages yet maintained their residence, thus living without a mortgage
payment.
·
The
artificially suppressed interest rates.
So, not only do we have
a valuation bubble, but the earnings on which the projections are based are
non-sustaining... same overvaluation situation as a few years ago … nothing
fixed ...'
Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ .
Wall Street's second weekly fall raises fear of retreat (Reuters)
Stocks ended a second week of losses on a down note Friday, reflecting
growing worries that stocks are on the precipice of a pullback. [ Fear?
Worries? How ‘bout realities … the ones the insiders already know … Stock
Market: 4 Current Warning Signs
Navin ‘No one indicator by itself can be trusted. Many indicators
taken as whole, however, can offer valuable guidance when a clear pattern
develops. Right now, that guidance appears to warn about current conditions.
1) The 5-year high in
the level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s normal for insiders to be selling some
of their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
2) Professor Shiller at
Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16. Although p/e’s can
remain elevated for longer than you would imagine, reversion to the mean
eventually takes place. Such a reversion would knock off almost 40% of
current price. From today’s level, that would put the S&P 500 at
about 800. Some shake their heads when I mention this, but it wasn’t too
many months ago that we just broke above that.
3) The failure of the
financial sector to keep up is a significant negative divergence for the entire
market. Tom
Aspray’s charts demonstrate the unfortunate price patterns of some big
banks. I’ve
mentioned this as well, previously. It’s hard to imagine how much further a
rally can go without support from financials.
4) Key market leaders
are rolling over in price. This is a significant change of trend. ‘ Selling
In May Is Very Good Advice This Year Harding Stocks
slip after three-day rally (Washington Post) [
Top 3 Reasons Markets Tanked with Oil WSCS‘DJI -1.02% SP500 -1.11% Nasdaq -0.93%
Gold -0.82% Oil -4.63% at $98.88.
Gold sold off ..Silver lost over 8%.
1) Commodities and Oil
got slaughtered. .. widening trade gap.
2) Insiders finally getting busted... 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), and have
used the mideast turmoil to obfuscate their failure. ]
Pay
credit cards or mortgage? (Washington Post)
[ How ‘bout none of the above! That’s certainly a coming reality if not
already there. Things are far worse than reported and the worst yet to
come.] As Americans unload more than
$100 billion in debt leftover from the heady days of the economic boom, many
households face a daunting question. Wall Street's second weekly fall raises fear of retreat (Reuters) Stocks ended
a second week of losses on a down note Friday, reflecting growing worries that
stocks are on the precipice of a pullback. [ Fear? Worries? How ‘bout realities
… the ones the insiders already know … Navin (see infra) ‘…1) The 5-year high
in the level of insider corporate stock sales is telling. At 565 sells for
every 1 buy, it’s never been higher. Yes, it’s normal for insiders to be
selling some of their stocks so they can buy new yachts and some of this is
pre-planned. But that ratio — which has spiked recently — is extraordinarily
high, one might even say off-the-chart…’
28
Statistics About The Gutting Of The U.S. Economy That Will Blow Your Mind ‘Red alert! Over 40 billion dollars of
America’s national wealth is being shipped out of the country every single
month. Our economy is being gutted and we are bleeding wealth and we are
bleeding jobs. The
American Dream 5-11-11
Red alert! Over 40 billion
dollars of America’s national wealth is being shipped out of the country every
single month. Our economy is being gutted and we are bleeding wealth and
we are bleeding jobs. This is a distress call. Is anyone
listening? Thousands of our factories and millions of our jobs are being
shipped overseas. Over the past decade over 6 trillion dollars have been
transferred into the hands of foreigners. Our national government is so
broke that they constantly have to go and beg those foreigners to lend us back
some of that money in order to finance our exploding debt. The number of good
jobs continues to decline and there are millions upon millions of my countrymen
that are unemployed. Can anybody help us? Mayday! Mayday! Mayday!Sadly,
the vast majority of Americans really are dead asleep on this issue... ‘ Selling
In May Is Very Good Advice This Year Harding Stocks
slip after three-day rally (Washington Post) [
Top 3 Reasons Markets Tanked with Oil
1) Commodities and Oil
got slaughtered. .. widening trade gap.
2) Insiders finally
getting busted.. but what about what large banks, investment banks, and
mortgage companies did to the US economy…these insider trading cases are
basically sideshows…
24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), and have
used the mideast turmoil to obfuscate their failure. ]
Rank |
|
||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
Financialization
and Our Increasingly Unstable Economy Roche 'The
worst part of it ...Obama, who vowed
change, has done almost nothing to fix any of it and in fact continues most of
the policies that helped get us here in the first place’ ‘INSIDE
JOB’ Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted …
despite ‘earning’ billiions from the fraud ). UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... ‘In emotional and personal testimony, an
ex-Justice official who quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of instructing
attorneys in the civil rights division to ignore cases that involve black
defendants and white victims ' Cases
against Wall Street lag despite Holder’s vows to target financial fraud WP | Obama has promised to hold Wall
Street accountable for the meltdown.
In
Greece, austerity and discontent
Anarchist movement is resurgent as the nation’s financial woes kindle
deep frustration and threaten a breakdown in the rule of law. (Washington
Post) [ Coming to a state near you
… Greece
launches massive fire sale to service growing debt as riot police clash with
violent protesters A general strike held today has seen most public
services grind to a halt across the country, while thousands marched through
Athens to protest against harsh austerity measures. Stock
Market: 4 Current Warning Signs
Navin ‘No one indicator by itself can be trusted. Many indicators
taken as whole, however, can offer valuable guidance when a clear pattern
develops. Right now, that guidance appears to warn about current conditions.
1) The 5-year high in
the level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s normal for insiders to be selling some
of their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
2) Professor Shiller at
Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16. Although p/e’s can
remain elevated for longer than you would imagine, reversion to the mean
eventually takes place. Such a reversion would knock off almost 40% of
current price. From today’s level, that would put the S&P 500 at
about 800. Some shake their heads when I mention this, but it wasn’t too
many months ago that we just broke above that.
3) The failure of the
financial sector to keep up is a significant negative divergence for the entire
market. Tom
Aspray’s charts demonstrate the unfortunate price patterns of some big
banks. I’ve
mentioned this as well, previously. It’s hard to imagine how much further a
rally can go without support from financials.
4) Key market leaders are rolling over in price.
Take a look at Google (GOOG),
one of the hottest stocks going in the recent rally. It appears to have
peaked in January and is unable to set new highs even as the S&P continued
upward. GOOG’s 50-day
moving average has turned downward and has crossed below the 200-day moving
average. This is a significant change of trend. ‘ ]
ON MAY 1,
2011, JUST MOMENTS BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED
OSAMA BIN LADEN, THE WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED
DENIAL OF SERVICE ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN
ACTUALLY DIED IN DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T
WANT AVAILABLE WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT
IS POSSIBLE THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A
"REVENGE" ATTACK FROM "AL QAEDA" ON THE UNITED STATES, WITH
WHICH TO JUSTIFY TOTAL WAR ON THE MIDDLE EAST.
Bin
Laden's voice was detected regularly until [14 December 2001] by intelligence
operatives monitoring radio transmissions in Tora Bora, according to the
Pentagon [details]. Since then,
nothing has been heard from the al-Qa'eda leader and President Bush has hinted
in private that bin Laden's silence could mean he has been killed. [Telegraph, 12/28/2001]
Osama bin Laden: A dead nemesis perpetuated by the US government
Osama bin
Laden is dead. The news first came from sources in Afghanistan and Pakistan
almost six months ago: the fugitive died in December [2001] and was buried in
the mountains of southeast Afghanistan. Pakistan's president, Pervez Musharraf,
echoed the information. The remnants of Osama's gang, however, have mostly
stayed silent, either to keep Osama's ghost alive or because they have no means
of communication.
With an
ego the size of Mount Everest, Osama bin Laden would not have, could not have,
remained silent for so long if he were still alive. He always liked to take
credit even for things he had nothing to do with. Would he remain silent for
nine months and not trumpet his own survival? [New York Times. July 11, 2002]
Usama
bin Laden has died a peaceful death due to an untreated lung complication,
the Pakistan
Observer
reported, citing a Taliban leader who allegedly attended the funeral of the Al
Qaeda leader.
Bin Laden
has often been reported to be in poor health. Some accounts claim that he is
suffering from Hepatitis C, and can expect to live for only two more years.
According to Le Figaro, last year [2000] he ordered a mobile dialysis machine
to be delivered to his base at Kandahar in Afghanistan. [Guardian]
Peter Bergen: Bin Laden has aged 'enormously'
This is a
man who was clearly not well. I mean, as you see from these pictures here, he's
really, by December [2001] he's looking pretty terrible…’ ]
Wall Street's second weekly fall raises fear of retreat (Reuters)
Reuters - Stocks ended a second week of losses on a down note Friday,
reflecting growing worries that stocks are on the precipice of a pullback. [
Fear? Worries? How ‘bout realities … the ones the insiders already know … Navin
(see infra) ‘…1) The 5-year high in the level of insider corporate stock sales
is telling. At 565 sells for every 1 buy, it’s never been higher. Yes, it’s
normal for insiders to be selling some of their stocks so they can buy new
yachts and some of this is pre-planned. But that ratio — which has spiked
recently — is extraordinarily high, one might even say off-the-chart…’ ]
Stock
Market: 4 Current Warning Signs
Navin ‘No one indicator by itself can be trusted. Many indicators
taken as whole, however, can offer valuable guidance when a clear pattern
develops. Right now, that guidance appears to warn about current conditions.
1) The 5-year high in
the level of insider corporate stock sales is telling. At 565 sells for every 1
buy, it’s never been higher. Yes, it’s normal for insiders to be selling some
of their stocks so they can buy new yachts and some of this is pre-planned. But
that ratio — which has spiked recently — is extraordinarily high, one might
even say off-the-chart.
2) Professor Shiller at
Yale figures that the
present price-to-earnings ratio for the Standard & Poor’s 500 is in the
area of 26. The historical average is about 16. Although p/e’s can
remain elevated for longer than you would imagine, reversion to the mean
eventually takes place. Such a reversion would knock off almost 40% of
current price. From today’s level, that would put the S&P 500 at about
800. Some shake their heads when I mention this, but it wasn’t too many
months ago that we just broke above that.
3) The failure of the
financial sector to keep up is a significant negative divergence for the entire
market. Tom
Aspray’s charts demonstrate the unfortunate price patterns of some big
banks. I’ve
mentioned this as well, previously. It’s hard to imagine how much further a
rally can go without support from financials.
4) Key market leaders
are rolling over in price. Take a look at Google (GOOG),
one of the hottest stocks going in the recent rally. It appears to have
peaked in January and is unable to set new highs even as the S&P continued
upward. GOOG’s 50-day
moving average has turned downward and has crossed below the 200-day moving
average. This is a significant change of trend. ‘
AIG
to sell Treasury shares The government soon will begin unloading its 92.1
percent ownership stake in the bailout company. (Washington
Post) [ Who’s the unlucky sucker? Ultimately, a pension fund or two or three,
etc., or maybe you or an equally unlucky member of your family. Stock
market on a roll despite slowing economic growth, lingering unemployment[Also
known as reality! Roll … yes, indeed … everyone’s to get rolled! ] (WP) Dow is
up more than 10 percent for 2011, to its highest point in nearly three
years. [ Same bubble scenario preceeding last crash (including currency
manipulation); yet, far worse this time owing to insurmountable debt and
defacto bankruptcy of the nation. Fed
Chairman Bernanke does reality TV
(WP) [ Except the ‘NO-RECESSION HELICOPTER BEN B.S. BERNANKE’ show is
scripted unreality … even with his reduction in estimate for ‘economic growth’,
the frauds on wall street still rallied.
Bernanke
prepares to make history (WP) [ He
already has! $6 gas acomin’, $1,508+ gold, $46+ silver, other commodities at
record levels, hyperinflation as predicted well on the way from over-printing
of fiat paper currency by fed as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
·
The extended
(and then further extended) unemployment benefits have kept an artificially
higher demand for consumer consumption. As a result, the US government has
artificially subsidized corporate profits.
·
The billions
saved through “free loading” by homeowners who have defaulted on their
mortgages yet maintained their residence, thus living without a mortgage
payment.
·
The
artificially suppressed interest rates...
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
24 Signs Of
Economic Decline In America ‘The United States is in the middle of a
devastating long-term economic decline’ ]
States
face shortfall for retirees ]
Selling
In May Is Very Good Advice This Year Harding Stocks
slip after three-day rally (Washington Post) [
Top 3 Reasons Markets Tanked with Oil WSCS‘DJI -1.02% SP500 -1.11% Nasdaq -0.93%
Gold -0.82% Oil -4.63% at $98.88.
Gold sold off ..Silver lost over 8%.
1) Commodities and Oil
got slaughtered. .. widening trade gap.
2) Insiders finally
getting busted.. but what about what large banks, investment banks, and
mortgage companies did to the US economy…these insider trading cases are
basically sideshows…
Fed
official calls for vigilance (WP)
[ Who’s still buying their
b***s***! Much higher prices / inflation’s already here. 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), and have
used the mideast turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Bernanke
prepares to make history (WP) [ He already has! $6 gas acomin’..
hyperinflation as predicted well on the way from over-printing of fiat paper
currency by fed as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more overvalued
was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009…’
ON MAY 1,
2011, JUST MOMENTS BEFORE PRESIDENT OBAMA ANNOUNCED THAT THE US HAD KILLED
OSAMA BIN LADEN, THE WHATREALLYHAPPENED WEBSITE CAME UNDER MASSIVE DISTRIBUTED
DENIAL OF SERVICE ATTACK. THIS PAGE, WHICH DOCUMENTS THAT OSAMA BIN LADEN
ACTUALLY DIED IN DECEMBER OF 2001, APPEARS TO BE WHAT THE WHITE HOUSE DIDN'T
WANT AVAILABLE WHILE THE NEW PROPAGANDA WAS "CATAPULTED FORWARD". IT
IS POSSIBLE THAT THIS IS THE OPENING GAMBIT IN A PLAN TO STAGE A
"REVENGE" ATTACK FROM "AL QAEDA" ON THE UNITED STATES, WITH
WHICH TO JUSTIFY TOTAL WAR ON THE MIDDLE EAST.
Bin
Laden's voice was detected regularly until [14 December 2001] by intelligence
operatives monitoring radio transmissions in Tora Bora, according to the
Pentagon [details]. Since then,
nothing has been heard from the al-Qa'eda leader and President Bush has hinted
in private that bin Laden's silence could mean he has been killed. [Telegraph, 12/28/2001]
Osama bin Laden: A dead nemesis perpetuated by the US government
Osama bin Laden
is dead. The news first came from sources in Afghanistan and Pakistan almost
six months ago: the fugitive died in December [2001] and was buried in the
mountains of southeast Afghanistan. Pakistan's president, Pervez Musharraf,
echoed the information. The remnants of Osama's gang, however, have mostly
stayed silent, either to keep Osama's ghost alive or because they have no means
of communication.
With an
ego the size of Mount Everest, Osama bin Laden would not have, could not have,
remained silent for so long if he were still alive. He always liked to take
credit even for things he had nothing to do with. Would he remain silent for
nine months and not trumpet his own survival? [New York Times. July 11, 2002]
Usama
bin Laden has died a peaceful death due to an untreated lung complication,
the Pakistan
Observer
reported, citing a Taliban leader who allegedly attended the funeral of the Al
Qaeda leader.
Bin Laden
has often been reported to be in poor health. Some accounts claim that he is
suffering from Hepatitis C, and can expect to live for only two more years.
According to Le Figaro, last year [2000] he ordered a mobile dialysis machine
to be delivered to his base at Kandahar in Afghanistan. [Guardian]
Peter Bergen: Bin Laden has aged 'enormously'
This is a
man who was clearly not well. I mean, as you see from these pictures here, he's
really, by December [2001] he's looking pretty terrible.
But by
December, of course, that tape that was aired then, he's barely moving the left
side of his body. So he's clearly got diabetes. He has low blood pressure. He's
got a wound in his foot. He's apparently got dialysis ... for kidney problems.
[CNN]
The [December
27, 2001 video] was dismissed by the Bush administration ... as sick propaganda
possibly designed to mask the fact the al-Qa'eda leader was already dead.
"He could have made the video and then ordered that it be released in the
event of his death," said one White House aide. [Telegraph]
Pakistan's Musharraf: Bin Laden probably dead
Pakistan's
president says he thinks Osama bin Laden is most likely dead because the
suspected terrorist has been unable to get treatment for his kidney disease.
[A Bush
administration official] said U.S. intelligence is that bin Laden needs
dialysis every three days and "it is fairly obvious that that could be an
issue when you are running from place to place, and facing the idea of needing
to generate electricity in a mountain hideout." [CNN]
Renal
dialysis -- talking about hemodialysis -- is something that really is reserved
for patients in end-stage renal failure. That means their kidneys have just
completely shut down. The most common cause of something like that would be
something like diabetes and hypertension. Once that's happened, if you're
separated from your dialysis machine -- and incidentally, dialysis machines
require electricity, they're going to require clean water, they're going to
require a sterile setting -- infection is a huge risk with that. If you don't
have all those things and a functioning dialysis machine, it's unlikely that
you'd survive beyond several days or a week at the most. [CNN]
Karzai: bin Laden 'probably' dead
Osama bin
Laden is "probably" dead, but former Taliban leader Mullah Omar is
alive, Afghan President Hamid Karzai has said. [CNN]
FBI: Bin Laden 'probably' dead
The US
Federal Bureau of Investigation's counter-terrorism chief, Dale Watson, says he
thinks Osama bin Laden is "probably" dead. [BBC]
Magazine runs what it calls bin Laden's will
The
editor-in-chief of a London-based Arab news magazine said a purported will it
published Saturday was written late last year [2001] by Osama bin Laden, and
shows "he's dying or he's going to die soon." [CNN]
Usama bin
Laden has died a peaceful death due to an untreated lung complication, the
Pakistan Observer reported, citing a Taliban leader who allegedly attended the
funeral of the Al Qaeda leader. "The Coalition troops are engaged in a mad
search operation but they would never be able to fulfill their cherished goal
of getting Usama alive or dead," the source said. [FOX News]
Translation
of Funeral Article in Egyptian Paper:
al-Wafd, Wednesday, December 26, 2001 Vol 15 No 4633
News of
Bin Laden's Death and Funeral 10 days ago
A
prominent official in the Afghan Taleban movement announced yesterday the death
of Osama bin Laden, the chief of al-Qa'da organization, stating that binLaden
suffered serious complications in the lungs and died a natural and quiet death.
[Welfare State]
Osama bin who?
Israel
does not view bin Laden as a threat. [Janes]
Israeli intelligence: Bin Laden is dead, heir has been chosen
Israeli
sources said Israel and the United States assess that Bin Laden probably died
in the U.S. military campaign in Afghanistan in December. They said the
emergence of new messages by Bin Laden are probably fabrications, Middle East
Newsline reported. [World Tribune]
[See
also The Fake bin Laden Audio Tape]
[See
also Benazir Bhutto says Osama is dead.]’
Osama bin Laden is dead.
The news first came from sources in Afghanistan and Pakistan almost six months
ago: the fugitive died in December [2001] and was buried in the mountains of
southeast Afghanistan. Pakistan's president, Pervez Musharraf, echoed the
information. The remnants of Osama's gang, however, have mostly stayed silent,
either to keep Osama's ghost alive or because they have no means of
communication. Bin Laden's voice was detected regularly until [14 December
2001] by intelligence operatives monitoring radio transmissions in Tora Bora,
according to the Pentagon [details]. Since then, nothing has been heard from the
al-Qa'eda leader and President Bush has hinted in private that bin Laden's
silence could mean he has been killed. [Telegraph, 12/28/2001]
Pakistan's Musharraf: Bin
Laden probably dead
Pakistan's president says he thinks Osama bin Laden
is most likely dead because the suspected terrorist has been unable to get
treatment for his kidney disease. [A Bush administration official] said U.S.
intelligence is that bin Laden needs dialysis every three days and "it is
fairly obvious that that could be an issue when you are running from place to
place, and facing the idea of needing to generate electricity in a mountain
hideout." [CNN]
Karzai: bin Laden 'probably'
dead
Osama bin Laden is "probably" dead, but
former Taliban leader Mullah Omar is alive, Afghan President Hamid Karzai has
said. [CNN]
FBI: Bin Laden 'probably'
dead
The US Federal Bureau of Investigation's
counter-terrorism chief, Dale Watson, says he thinks Osama bin Laden is
"probably" dead. [BBC]
Magazine runs what it calls
bin Laden's will
The editor-in-chief of a London-based Arab news
magazine said a purported will it published Saturday was written late last year
[2001] by Osama bin Laden, and shows "he's dying or he's going to die
soon." [CNN]
Why Does the Terrorist Kingpin Look Better Than He Did in
2001? Washington’s Blog
Hoax: White House Claims 4-Year-Old Bin Laden Video Is New
Footage
Then, of course, there’s
also: that ‘pearl harbor event’ so sought by the neo-cons / war mongers still
defies explanation (ie., the ‘stand-down order’, symmetrical implosions,
foreknowledge by some {who conveniently ‘missed the party’ that day}, etc..
Some links, echoing the unbelief akin to the ‘Jessica Lynch’, Tillman, etc., affairs follow. People must realize
that though having but 5% of the world’s
population, america can boast 76% of the world’s serial killers, and the
highest crime rates in the world by far.
]
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
Defacto bankrupt,
fraudulent america also spends more on military spending than all the nations
of the world combined... federal employees / contractors, cia, all 3 branches
of the u.s. government, etc., are included in this evolved american trait of
inherent criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ). That
perverse field of dreams I’ve previously alluded to, the american nightmare, if
you build / contrive war, they will come. And, they do; seals of them (among
others); and when their ‘tours’ are done, it’s murder inc./contract killing for
hire that they’ve won (cia, mob, etc.). The 20th century, the ‘bloodiest
century’, not coincidentally referred to as the american century, brings
longings of nostalgia to american criminals who, like Pavlov’s dogs salivate at the prospect of killing, raping, pillaging, and plundering
which primitive mindset they have mistakenly been conditioned to connect to
their now irretrievably lost success as a nation state; and to the contrary,
has become globally and domestically self-destructive / self-defeating. The
entire 911 / Bin Laden scenario just doesn’t pass the smell test and reeks of
political desperation and Orwellian opportunism.
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
People must realize that though having but 5% of the world’s population, america
can boast 76% of the world’s serial killers and the highest crime rates in the
world by far. http://www.albertpeia.com/realifeamericaserialkillers.mpg . Defacto
bankrupt, fraudulent america also spends more on military spending than all the
nations of the world combined... federal employees / contractors, cia, all 3
branches of the u.s. government, etc., are included in this evolved american
trait of inherent criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ).
U.S.
to raise fuel efficiency standards Over the next few months, regulators are
scheduled to set the next round of fuel standards for automakers. Among the
proposals under consideration is one that would lift average fuel economy under
the law to as much as 62 mpg by 2025. (Washington Post) [ Well, there you go … problem solved … and
the auto cos can really afford the retooling costs … I can’t remember how many
times I heard reference to such legislative mandates … have they been in effect
… have they changed … have they worked? Look
at How Producer Prices Continue Getting More Expensive Wall St. Cheat Sheet [This spells big trouble
affecting corporate earnings (some costs can’t be passed on without decreasing
sales) and disposable income / consumer spending. ] Weekly
Unemployment Claims Still Above This Scary Level WSCS Short ‘The Department of Labor’s Unemployment Insurance Weekly Claims Report was released
this morning for last week. Claims fell 44,000 from a 4,000 upward revision of
the previous week, which takes the number back to approximately the level prior
to last week’s blip. Here is the official statement from the Department of
Labor:In the week ending May 7, the advance figure for seasonally adjusted
initial claims was 434,000, a decrease of 44,000 from the previous week’s
revised figure of 478,000. The 4-week moving average was 436,750, an increase
of 4,500 from the previous week’s revised average of 432,250. The advance
seasonally adjusted insured unemployment rate was 3.0 percent for the week
ending April 30, unchanged from the prior week’s unrevised rate of 3.0 percent.
The advance number for seasonally adjusted insured unemployment during the week
ending April 30 was 3,756,000, an increase of 5,000 from the preceding week’s
revised level of 3,751,000. The 4-week moving average was 3,718,500, an
increase of 13,250 from the preceding week’s revised average of
3,705,250.Today’s number was 11,000 above the Briefing.com consensus estimate of 423,000 claims.As we can
see, there’s a good bit of volatility in this indicator, which is why the
4-week moving average (shown in the callouts) is a more useful number than the
weekly data.
http://dshort.com/charts/weekly-unemployment-claims-charts.html?weekly-unemployment-claims
Occasionally I see
articles critical of seasonal adjustment, especially when the non-adjusted
number better suits the author’s bias. But a comparison of these two charts
clearly shows extreme volatility of the non-adjusted data, and the 4-week MA
gives an indication of the recurring pattern of seasonal change in the second
chart (note, for example, those regular January spikes).
http://dshort.com/charts/weekly-unemployment-claims-charts.html?weekly-unemployment-claims-NSA
a 52-week moving average
gives a better sense of the long-term trends.
http://dshort.com/charts/weekly-unemployment-claims-charts.html?weekly-unemployment-claims-NSA-52-ma
Krauthammer:
Obama's demagoguery in El Paso (Washington Post) [ What else can you expect
from a demagogue … suddenly he’s talkin’ immigration with the election ‘round
the corner, as he courts the Hispanic vote. Aren’t people on to this unctuous
jive-talker yet, failed president that he is.
Davis ‘… This is how we
pay off our current debts and I think bondholders are simply happy to get
anything out of a country that admits it owes $15Tn (1/4 of global GDP) but
probably owes closer to $60Tn (entire global GDP) in the form of unfunded
liabilities. The funniest thing about this (and you have to laugh) is to see
Conservative pundits get on TV and talk about how we need to cut $100Bn worth
of discretionary spending to "fix" this (while continuing to spend
$1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is
no fixing this and even a Republican said you can’t fool all of the people all
of the time. THIS HOUSE OF CARDS IS TEETERING
FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
… Suckers’ rally
to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘..the
Philadelphia Fed collapsed from a revised 43.4 (a 27 year high) to 18.5, the
lowest since November 2010… This
is an especially great opportunity to sell / take profits while you still can
since there's much worse to come! U.S. Economy Remains on Life Support Hansen ‘
Milbank:
The medical mystery of Mitt Romney (Washington Post) [ Does anyone else think Mr.
Milbank’s reference to the Chinese twin girls born with a
single body and two heads was at the least in poor taste. Moreover, I would
further say his reference is probably better suited as applicable to ‘wobama
the b’ (for b***s***) whose actions in office have belied most every campaign
pledge and rhetoric. This is not to say that Romney gets a pass; though I did
previously say and still on my website is (what I write thereon is ‘forever’ as
if engraved on stone) that I recommended that war criminal, coward, incompetent
cheney be replaced by Romney, and then the same, whether by impeachment or
‘encouragement’ (kind of like that Nixon / Ford dynamic), for war criminal,
coward, incompetent moron dumbya bush. I doubt there’s anyone other than mental
cases (ie., limbaugh, hannity, o’reilly, etc.) who could seriously argue that
the country wouldn’t have been better off to this day. That said, 2012 is a whole
new year, and a whole new ‘ballgame’, and wide open, so to speak. Ultimately,
for me, the next president will have met criterion that for me is measurable in
terms of justice, in accordance with long lost (for pervasively corrupt,
defacto bankrupt america) constitutional principles. For me, it’s what I can
see, touch, and measure as being right. As such, for me, the clear resolution
of long standing, justice delayed, justice denied RICO litigation is that
measure and criterion. . Defacto bankrupt, fraudulent america
also spends more on military spending than all the nations of the world
combined... federal employees / contractors, cia, all 3 branches of the u.s.
government, etc., are included in this evolved american trait of inherent
criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ). That
perverse field of dreams I’ve previously alluded to, the american nightmare, if
you build / contrive war, they will come. And, they do; seals of them (among
others); and when their ‘tours’ are done, it’s murder inc./contract killing for
hire that they’ve won (cia, mob, etc.). The 20th century, the ‘bloodiest
century’, not coincidentally referred to as the american century, brings
longings of nostalgia to american criminals who, like Pavlov’s dogs salivate at the prospect of killing, raping, pillaging, and plundering
which primitive mindset they have mistakenly been conditioned to connect to
their now irretrievably lost success as a nation state; and to the contrary,
has become globally and domestically self-destructive / self-defeating. The
entire 911 / Bin Laden scenario just doesn’t pass the smell test and reeks of
political desperation and Orwellian opportunism.
Osama bin Laden is dead..:
died in December [2001] ..buried in the mountains of southeast Afghanistan [Telegraph, 12/28/2001]
Musharraf: Bin Laden
probably dead
[A Bush
administration official] said U.S. intelligence is that bin Laden needs
dialysis every three days ..." [CNN]
Karzai: bin Laden
'probably' dead .. but former Taliban leader Mullah Omar is alive [CNN]
FBI: Bin Laden 'probably'
dead
The FBI’s counter-terrorism chief, Dale Watson, says
he thinks Osama bin Laden is "probably" dead. [BBC]
The editor-in-chief of a London-based Arab news
magazine said a purported will it published Saturday was written late last year
[2001] by Osama bin Laden, and shows "he's dying or he's going to die
soon." [CNN]
Usama bin Laden has died a peaceful death due to an
untreated lung complication .. [FOX
News] Renal
dialysis is reserved for patients in end-stage renal failure. .. it's unlikely
that you'd survive beyond several days or a week at the most. [CNN]
]
Weekly
Unemployment Claims Still Above This Scary Level WSCS Short ‘The Department of Labor’s Unemployment Insurance Weekly Claims Report was released
this morning for last week. Claims fell 44,000 from a 4,000 upward revision of
the previous week, which takes the number back to approximately the level prior
to last week’s blip. Here is the official statement from the Department of Labor:In
the week ending May 7, the advance figure for seasonally adjusted initial
claims was 434,000, a decrease of 44,000 from the previous week’s revised
figure of 478,000. The 4-week moving average was 436,750, an increase of 4,500
from the previous week’s revised average of 432,250. The advance seasonally
adjusted insured unemployment rate was 3.0 percent for the week ending April
30, unchanged from the prior week’s unrevised rate of 3.0 percent. The advance
number for seasonally adjusted insured unemployment during the week ending
April 30 was 3,756,000, an increase of 5,000 from the preceding week’s revised
level of 3,751,000. The 4-week moving average was 3,718,500, an increase of
13,250 from the preceding week’s revised average of 3,705,250.Today’s number
was 11,000 above the Briefing.com consensus estimate of 423,000 claims.As we can
see, there’s a good bit of volatility in this indicator, which is why the
4-week moving average (shown in the callouts) is a more useful number than the
weekly data.
http://dshort.com/charts/weekly-unemployment-claims-charts.html?weekly-unemployment-claims
Occasionally I see
articles critical of seasonal adjustment, especially when the non-adjusted
number better suits the author’s bias. But a comparison of these two charts
clearly shows extreme volatility of the non-adjusted data, and the 4-week MA
gives an indication of the recurring pattern of seasonal change in the second
chart (note, for example, those regular January spikes).
http://dshort.com/charts/weekly-unemployment-claims-charts.html?weekly-unemployment-claims-NSA
Because of the extreme
volatility of the non-adjusted weekly data, a 52-week moving average gives a
better sense of the long-term trends.
http://dshort.com/charts/weekly-unemployment-claims-charts.html?weekly-unemployment-claims-NSA-52-ma
The Bureau of Labor
Statistics provides an overview on seasonal adjustment here (scroll down about
half way down).
Doug Short Ph.d is
the author of dshort.com.’
Look
at How Producer Prices Continue Getting More Expensive Wall St. Cheat Sheet [This spells big trouble
affecting corporate earnings (some costs can’t be passed on without decreasing
sales) and disposable income / consumer spending. ] ‘The Producer
Price Index for finished goods rose 0.8 percent in April, seasonally adjusted,
the U.S. Bureau of Labor Statistics reported today. This
advance followed increases of 0.7 percent in March and 1.6 percent in February.
At the earlier stages of
processing, prices received by manufacturers of intermediate goods climbed
1.3 percent in April, and the crude goods index rose 4.0 percent. On an
unadjusted basis, prices for finished goods moved up 6.8 percent for
the 12 months ended April 2011, the largest year-over-year gain since an
8.8-percent increase in September 2008.
Stage-of-Processing
Analysis
About three quarters of
the April advance in the finished goods index can be traced to a
2.5 percent jump in prices for finished energy goods. Also contributing to
the rise in the finished goods index, prices for both finished goods other
than foods (NYSE:RJA) and energy (NYSE:XLE) and for finished consumer foods moved up 0.3
percent in April.
Finished energy: Prices
for finished energy goods increased 2.5 percent in April, the seventh consecutive
monthly advance. Over half of the April rise can be attributed to the gasoline
index, which climbed 3.6 percent (NYSE:USO). Higher prices for liquefied petroleum gas and
residential natural gas (NYSE:UNG) also were factors in the increase in the finished
energy goods index. (See table 2.)
Finished core: The index
for finished goods less foods and energy moved up 0.3 percent in April,
the fifth straight monthly rise. Nearly one-fourth of the April monthly advance
can be traced to a 1.2-percent jump in civilian aircraft prices. An
increase in the index for light motor trucks also contributed
significantly to the rise in finished core prices.
Finished foods: Prices
for finished consumer foods rose 0.3 percent in April after falling
0.2 percent in the prior month. Leading this advance, the index for eggs
for fresh use surged 56.7 percent.
Intermediate goods
The Producer Price Index
for intermediate materials (NYSE:XLB), supplies, and components rose 1.3
percent in April, the ninth consecutive monthly advance. The broad-based
April increase was led by prices for intermediate goods less foods and
energy, which moved up 1.1 percent. The indexes for intermediate energy
goods and for intermediate foods and feeds also contributed to
the intermediate goods advance, rising 1.9 percent and 1.8 percent,
respectively. For the 12 months ended April 2011, prices for intermediate
goods climbed 9.4 percent, the largest increase since a 9.8-percent jump
in October 2008. (See table B.)
Intermediate core:
Prices for intermediate goods less foods and energy moved up 1.1 percent
in April, the ninth consecutive monthly rise. About fifteen percent of the
April gain can be attributed to the index for primary basic organic
chemicals, which increased 3.2 percent. Higher prices for ethanol and
steel mill products (NYSE:DBB) also contributed to the advance in intermediate
core prices. (See table 2.)
Intermediate energy: The
index for intermediate energy goods climbed 1.9 percent in April,
the smallest advance since a 1.5-percent increase in November 2010. Prices
for diesel fuel, which moved up 3.5 percent, were a significant
contributor to the April rise. Higher prices for gasoline also were a
factor in the increase in the intermediate energy goods index.
Intermediate foods: The
intermediate foods and feeds index advanced 1.8 percent in April, the
ninth straight monthly increase. A 5.6-percent jump in prices for beef and veal
accounted for a quarter of the April advance in the intermediate foods and
feeds index.
Crude goods
The Producer Price Index
for crude materials for further processing increased 4.0 percent in April.
For the 3 months ending in April, prices for crude materials moved up 7.0
percent following an 11.4-percent jump for the 3 months ending in January.
Leading the broad-based monthly advance in April, the index for crude
energy materials rose 4.8 percent. Prices for crude foodstuffs and
feedstuffs and for crude nonfood materials less energy increased 4.0 percent
and 2.6 percent, respectively.
Crude energy: The index
for crude energy (NYSE:XLE) materials moved up 4.8 percent in April.
From January to April, crude energy prices advanced 5.3 percent compared
with a 17.9-percent jump in the previous 3-month period. For the month of
April, the index for natural gas rose 9.4 percent, accounting for over
half of the increase in prices for crude energy materials. Advances in the indexes
for crude petroleum and coal also contributed to higher crude energy prices.
Crude foods: Prices for
crude foodstuffs and feedstuffs (NYSE:RJA) advanced 4.0 percent in April. For the
3 months ending in April, the index for crude foods jumped 11.4 percent
subsequent to moving up 5.5 percent from October to January. Accounting
for about half of the monthly rise in April, the grains index increased
15.5 percent. Higher prices for slaughter steers and heifers also were
a factor in the advance in the crude foods index.
Crude core: The index
for crude nonfood materials less energy rose 2.6 percent in April.
From January to April, crude core prices moved up 2.5 percent after a
10.1-percent advance in the previous 3-month period. For the month of
April, a 4.5-percent increase in the index for copper base scrap was a
factor in higher crude core prices.
Services Analysis Trade
Industries
TTrade industries: The
Producer Price Index for the net output of total trade industries moved up
0.1 percent in April, the third consecutive increase. Trade indexes measure
changes in margins received by wholesalers and retailers (NYSE:RTH). Leading the April advance was a
5.3-percent increase in margins received by department stores (NYSE:IYR). Higher margins received by women’s
clothing stores and by electronic shopping and mail order houses also
contributed significantly to the rise in the total trade industries index.
Transportation and
warehousing industries: The Producer Price Index for the net output
of transportation and warehousing industries rose 0.3 percent in April,
the seventh consecutive increase. Accounting for forty-five percent of the
April advance, prices received by couriers climbed 1.4 percent. Increases
in the indexes for long distance general freight trucking (truckload) and
line-haul railroads also were factors in the April rise in the transportation
and warehousing industries index.
Traditional service
industries: The Producer Price Index for the net output of total
traditional service industries moved up 0.7 percent in April after no
change in the previous month. Leading this advance, prices received by the
depository credit intermediation industry group rose 7.3 percent. Higher
prices received by insurance carriers and by general medical and
surgical hospitals (NYSE:XLV) also contributed to the increase in the total
traditional service industries index.’
Mohamed A.
El-Erian [ In an interview with
Motek, El-Erian states that the nations are facing not debt issues per se, but
solvency issues (ie., america’s defacto bankrupt, etc.) and (PIMCO dumped their
u.s. treasury holdings) that it will take higher interest rates to sell those
debt securities. Moreover, he stated that the subject nations have only
exacerbated their fiscal problems by piling more debt on debt … the following
is an excerpt from El-Erian in part, from the PIMCO website: http://www.pimco.com] ‘ … BALANCE OF RISKS Most baselines are subject to two-sided risks.
Our Secular Outlook is no different in this regard and, in this case, the risks
are well balanced.
On the one hand, the
baseline could prove to be too pessimistic on three major counts: First,
emerging economies (and China in particular) could show greater willingness and
ability to unleash domestic consumption; second, the balance sheets of central
banks in industrial countries could indeed be used very aggressively without
undermining inflationary expectations and fueling a political reaction; and
third, some of the remarkable scientific advances could translate quickly into
massive productivity gains.
These three factors
would facilitate economic growth in industrial countries. And growth is
critical for enhancing the capacity of the world economy to deal with its
balance sheet problems, reverse the involvement of governments in markets and,
thereby, reduce the likelihood of government failures following the recent
string of market failures.
On the other hand, the
baseline could be too optimistic on (also) three major counts: First,
households and companies could embark upon a renewed cycle of self-insurance in
reaction to the medium-term uncertainties facing the global economy. This
paradox of thrift would further weaken the growth and debt dynamics; it would also
increase the risk of trade protectionism. Second, some of the super-secular
issues (such as climate change, demographics and the atomization of societies)
could play out in secular time, significantly increasing the structural
headwinds facing the global economy. Third, the world could face a geopolitical
shock, either because of frictions and tensions between certain nation-states
or due to vulnerability to acts of terrorism perpetrated by small groups or
individuals.
In
Conclusion
We are living through a
remarkable time of change for the global economy, where several anchoring
parameters have become variables. It is a time of friction, collisions and
renewal as we journey to a de-levered and re-regulated world with weaker growth
dynamics in industrial countries and less political enthusiasm for unfettered
globalization and markets.
This brings us back to
the image of a car that, having used its spare tire(s), is still embarked on a
bumpy road through unfamiliar territory and to a less-than-stable destination.
Parts of the car are up for this journey; others will likely hold up but in a
tentative and fragile manner; and yet others will fail.
For investors, this
translates into a secular period of changing risks and opportunities:
Look
How the Federal Budget Deficit Will Exceed $1 Trillion Again Wall St. Cheat Sheet ‘Yesterday the Federal Budget Deficit reminded us that even during the
season when Uncle Sam collects your taxes — 45% more than last year — we still
can’t create a surplus! Superficially, we can blame the recent economic
crisis for the issue. However, if we dig deeper into the historical data, below
we can see politicians have been out of control for decades. More specifically,
the fall of 2001 kicked off a drunken binge on Federal deficit spending (Click for Larger Image) We haven’t seen a
single budget surplus since the economic crisis, and future budget projections
from the Congressional Budget Office indicate we shouldn’t sit on the shore
waiting for one to dock anytime soon. Check Out “CHART
OF THE DAY: Watch the US Debt Set a 60 Year Record“. In fact, the CBO
increased their annual deficit projection for 2011 from $1.1 trillion to
$1.5 trillion — the third straight year of $1 trillion-plus deficits. The
record monthly deficit of $222.5 billion in February beat last February’s
record by almost $2 billion. At least we didn’t set a new record so soon.’ Debt
ceiling battles have negotiation experts shaking their heads Professional
negotiators weigh in on lawmakers’ inept attempts to negotiate the national
debt ceiling. (Washington Post) [ Boehner
seeks more than $2 trillion in cuts (Washington Post) [ I’m sure I’m not alone in thinking
‘Riiiiight! … that’ll happen … and all
without cuts to endless war spending … while the situation’s more than that
dire, the advice is … don’t hold your breath!
Milbank:
The GOP’s juvenile debate (Washington Post) [ Mr. Milbank has
lamentably become the rush limbaugh / sean hannity of the newspaper world,
though he barks and apologizes for dems (and wobama the b for b*** s***) only
(as they for the gop / bushies only). A
political minefield in Treasury plan
(Washington Post) [ What plan!
. Let
the budget battle begin Congress returns to fight over the nation’s
solvency. (WP) [ Stated another way, the nation’s solvency is
over. .. america’s defacto bankrupt with no end in sight.. interest alone is
eating progressively into GDP beyond the subterfuge.. Gerson:
How serious are we about the deficit? (WP) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘..the
Philadelphia Fed collapsed from a revised 43.4 (a 27 year high) to 18.5, the
lowest since November 2010… This
is an especially great opportunity to sell / take profits while you still can
since there's much worse to come! U.S. Economy Remains on Life Support Hansen ‘
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
People must realize that though having but 5% of the world’s population, america
can boast 76% of the world’s serial killers and the highest crime rates in the
world by far. http://www.albertpeia.com/realifeamericaserialkillers.mpg . Defacto
bankrupt, fraudulent america also spends more on military spending than all the
nations of the world combined... federal employees / contractors, cia, all 3
branches of the u.s. government, etc., are included in this evolved american
trait of inherent criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ). That
perverse field of dreams I’ve previously alluded to, the american nightmare, if
you build / contrive war, they will come. And, they do; seals of them (among
others); and when their ‘tours’ are done, it’s murder inc./contract killing for
hire that they’ve won (cia, mob, etc.). The 20th century, the ‘bloodiest
century’, not coincidentally referred to as the american century, brings
longings of nostalgia to american criminals who, like Pavlov’s dogs salivate at the prospect of killing, raping, pillaging, and plundering
which primitive mindset they have mistakenly been conditioned to connect to
their now irretrievably lost success as a nation state; and to the contrary,
has become globally and domestically self-destructive / self-defeating. The
entire 911 / Bin Laden scenario just doesn’t pass the smell test and reeks of
political desperation and Orwellian opportunism.
AIG
to sell Treasury shares The government soon will begin unloading its 92.1
percent ownership stake in the bailout company. (Washington
Post) [ Who’s the unlucky sucker? Ultimately, a pension fund or two or three,
etc., or maybe you or an equally unlucky member of your family. Stock
market on a roll despite slowing economic growth, lingering
unemployment[Also known as reality! Roll … yes, indeed … everyone’s to get
rolled! ] (WP) Dow is up more than 10 percent for 2011, to its highest
point in nearly three years. [ Same bubble scenario preceeding last crash
(including currency manipulation); yet, far worse this time owing to
insurmountable debt and defacto bankruptcy of the nation.
Fed
Chairman Bernanke does reality TV
(WP) [ Except the ‘NO-RECESSION HELICOPTER BEN B.S. BERNANKE’ show is
scripted unreality … even with his reduction in estimate for ‘economic growth’,
the frauds on wall street still rallied.
Bernanke
prepares to make history (WP) [ He
already has! $6 gas acomin’, $1,508+ gold, $46+ silver, other commodities at
record levels, hyperinflation as predicted well on the way from over-printing
of fiat paper currency by fed as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
·
The extended
(and then further extended) unemployment benefits have kept an artificially
higher demand for consumer consumption. As a result, the US government has
artificially subsidized corporate profits.
·
The billions
saved through “free loading” by homeowners who have defaulted on their
mortgages yet maintained their residence, thus living without a mortgage
payment.
·
The
artificially suppressed interest rates...
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
Selling
In May Is Very Good Advice This Year Harding Stocks
slip after three-day rally (Washington Post) [
Top 3 Reasons Markets Tanked with Oil WSCS‘DJI -1.02% SP500 -1.11% Nasdaq -0.93%
Gold -0.82% Oil -4.63% at $98.88.
Gold sold off ..Silver lost over 8%.
1) Commodities and Oil
got slaughtered. .. widening trade gap.
2) Insiders finally
getting busted.. but what about what large banks, investment banks, and
mortgage companies did to the US economy…these insider trading cases are
basically sideshows…
Fed
official calls for vigilance (WP)
[ Who’s still buying their
b***s***! Much higher prices / inflation’s already here. 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), and have
used the mideast turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Bernanke
prepares to make history (WP) [ He already has! $6 gas acomin’..
hyperinflation as predicted well on the way from over-printing of fiat paper
currency by fed as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009…’
28
Statistics About The Gutting Of The U.S. Economy That Will Blow Your Mind ‘Red alert! Over 40 billion dollars of
America’s national wealth is being shipped out of the country every single
month. Our economy is being gutted and we are bleeding wealth and we are
bleeding jobs. The
American Dream May 12, 2011
Red alert! Over 40 billion dollars of America’s
national wealth is being shipped out of the country every single month.
Our economy is being gutted and we are bleeding wealth and we are bleeding
jobs. This is a distress call. Is anyone listening? Thousands
of our factories and millions of our jobs are being shipped overseas.
Over the past decade over 6 trillion dollars have been transferred into the
hands of foreigners. Our national government is so broke that they
constantly have to go and beg those foreigners to lend us back some of that
money in order to finance our exploding debt. The number of good jobs continues
to decline and there are millions upon millions of my countrymen that are
unemployed. Can anybody help us? Mayday! Mayday! Mayday!Sadly, the vast
majority of Americans really are dead asleep on this issue. They just
continue to run out to the big retail stores and fill their carts with products
made in China and yet they seem completely bewildered by the fact that the
number of good jobs continues to decline.Over the past decade, the number of
middle class jobs has fallen by about ten percent. There is a reason for
this. America is becoming poorer. The economic pie is
shrinking. When we ship 40 to 50 billion dollars into the hands of
foreigners every single month, that means that there is a lot less wealth for
all of us to divide up.Every single month, the U.S. ships in massive amounts of
foreign oil and massive amounts of cheap plastic trinkets from places such as
China which we greedily consume. In return, we send them a giant pile of
money.This happens month after month after month. You see, we always need
more of their oil and more of their plastic trinkets. They are more than
happy to keep getting richer and richer.Meanwhile, thousands of our factories
and millions of our jobs continue to be sent overseas where labor is far
cheaper. Thanks to globalization, American workers much now directly
compete for jobs with workers that are willing to work for less than a dollar
an hour on the other side of the globe.
The dismantling of our
economy is happening right in front of our eyes and most of our politicians are
not doing a thing to stop it.
The following are 28
statistics about the gutting of the U.S. economy that will blow your mind….
#1 According to the U.S. Department of Commerce, the
U.S. trade deficit for the month of March was $48.2 billion. That was up from
$45.4 billion in February.
#2 The United States has had a negative trade
balance every single yearsince 1976.
#3 Between December 2000 and December 2010, the U.S.
ran a total trade deficit of 6.1 trillion dollars.
#4 The U.S. trade deficit with China in March was $18.1
billion. This is money that is not going to support U.S. businesses
and U.S. workers. If that money was actually going to our businesses and
to our workers it would increase tax revenues.
#5 Since China entered the WTO in 2001, the U.S. trade
deficit with China has grown by an average of 18% per year.
#6 During 2010, we spent $365 billion on goods and services
from China while they only spent $92 billion on goods and services from us.
#7 Since 2005, Americans have gobbled up Chinese
products and services totaling $1.1 trillion, but the Chinese have
only spent $272 billion on American goods and services.
#8 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.
#9 According to a recent report from the Economic
Policy Institute, between 2001 and 2008 the United States lost 2.4 million jobs due to the growing
trade deficit with China. Every single state in America experienced a net
job loss due to our trade deficit with China during that time period.
#10 The United States has lost an average of
50,000 manufacturing jobs per month since China joined the World Trade Organization in
2001.
#11 The United States has lost a staggering 32
percent of its manufacturing jobs since the year 2000.
#12 Between
December 2000 and December 2010, 38 percent of the manufacturing jobs in
Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were
lost and 48 percent of the manufacturing jobs in Michigan were lost.
#13 Back in 1970, 25 percent of all jobs in the United
States were manufacturing jobs. Today, only 9 percent of the jobs in the
United States are manufacturing jobs.
#14 China produced 19.8 percent of all the goods
consumed in the world last year. The United States only produced 19.4 percent.
#15 According to the IMF, China is going to have the
largest economy in the world by 2016.
#16 Nobel economist Robert W. Fogel of the University of
Chicago is projecting that the Chinese economy will be three times larger
than the U.S. economy by the year 2040 if current trends continue.
#17 Back in 1998, the United States had 25 percent of
the world’s high tech export market and China had just 10 percent. Ten years
later, the United States had less than 15 percent and China’s share had soared to 20 percent.
#18 Manufacturing employment in the U.S. computer
industry was actually lower in 2010 than it was in 1975.
#19 In 2002, the United States had a trade deficit in
“advanced technology products” of $16 billion with the rest of the world.
In 2010, that number skyrocketed to $82 billion.
#20 Last year, China produced 11 times as much steel as the United
States did.
#21 Do you remember when the United States was the
dominant manufacturer of automobiles and trucks on the globe? Well, in
2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.
#22 In 2010, South Korea exported 12 times as many automobiles, trucks and
parts to us as we exported to them.
#23 According to one recent study, China could
become the global leader in patent filings by next year.
#24 China is now the number
one supplier of components that are critical to the operation
of U.S. defense systems.
#25 In 2010, the number one U.S. export to China
was “scrap and trash”.
#26 Thanks to our exploding trade deficit with China,
the Chinese have accumulated nearly 3 trillion dollars
in foreign currency reserves. That is the largest stockpile of foreign
currency reserves on the entire globe.
#27 The amount of the trade deficit that can be
attributed to foreign oil is at the highest level that we have seen since 2008.
#28 It is being projected that for the first time ever,
the OPEC nations are going to bring in over a trillion dollars
from exporting oil this year. Their biggest customer is the United
States.
Our dependence on
foreign oil is literally bleeding us dry. Once we have burned up all of
that foreign oil in our cars we are left with nothing. But the people we
bought all that oil from are still sitting on all that cash.As we ship our
wealth, our factories and our jobs out of the country, America is getting
poorer.That means that individual Americans are getting poorer.According to one
estimate, between 1999 and 2009 real median household income in the United
States declined by 5.0%.Today, over 44
million Americans are on food stamps and over 47 million Americans are living
in poverty. This is not an accident and it didn’t happen overnight.
Our economic policies are absolutely killing us.This economic downturn has hit
men particularly hard. As thousands of manufacturing facilities have shut
down, millions of blue collar workers have been dumped out on the street.
Most blue collar workers are men.Since January 2008, male employment has
declined by 4,932,000 jobs.Ouch.During
2010, only 66.8% of American men had jobs, which was a
new all-time record low.There are a lot of blue collar workers that are sitting
at home on their couches today that are still trying to figure out what in the
world happened to their good jobs.There are now more than 6 million Americans
that the government says have given up
looking for work completely. Most of them are men.Sadly, in our
society today most of the people that pursue higher education are women.
Today, 61% of all college degrees
are earned by women.Not that a college education is a ticket to success in
today’s world. According to the Economic Policy Institute, the unemployment
rate for college graduates younger than 25 years old was 9.3 percent in 2010.In fact, the majority of
all of our college graduates end up running home to Mom and Dad after they
graduate.According
to a poll conducted by Twentysomething Inc., 85 percent of U.S. college
graduates will move back home with their parents (at least initially) after
graduation. That is up from 67 percent back in 2006.The truth is that
there are not nearly enough jobs for everyone and that is a huge problem.We
have become a nation that consumes far more wealth than it produces. That
is a recipe for disaster any way that you cut it.Until we have some fundamental
changes to our trade policy, these long-term trends are just going to
continue. We are going to continue to bleed wealth, bleed factories and
bleed jobs.Tax revenues go down when factories shut down and when American
workers are sitting at home on their couches. This is a huge factor in
why our federal, state and local governments are drowning in debt. We
have got to have more wealth creation inside this country or else we are going to
continue to see our government debt problems get even worse.If you walk into
just about any major retail store today, what do you find?You find loads and
loads of products that have been made somewhere else.I hope that you are
enjoying “the low, low prices” because they come at a very high cost.We once
had the greatest economic machine in the history of the world but now it is
being gutted like a fish.If we continue on the road that we are on, the entire
country is eventually going to become just like Detroit.Is that what you want?’
Osama bin Laden is dead.
The news first came from sources in Afghanistan and Pakistan almost six months
ago: the fugitive died in December [2001] and was buried in the mountains of
southeast Afghanistan. Pakistan's president, Pervez Musharraf, echoed the
information. The remnants of Osama's gang, however, have mostly stayed silent,
either to keep Osama's ghost alive or because they have no means of
communication. Bin Laden's voice was detected regularly until [14 December
2001] by intelligence operatives monitoring radio transmissions in Tora Bora,
according to the Pentagon [details]. Since then, nothing has been heard from the
al-Qa'eda leader and President Bush has hinted in private that bin Laden's
silence could mean he has been killed. [Telegraph, 12/28/2001]
Pakistan's Musharraf: Bin
Laden probably dead
Pakistan's president says he thinks Osama bin Laden
is most likely dead because the suspected terrorist has been unable to get
treatment for his kidney disease. [A Bush administration official] said U.S.
intelligence is that bin Laden needs dialysis every three days and "it is
fairly obvious that that could be an issue when you are running from place to
place, and facing the idea of needing to generate electricity in a mountain
hideout." [CNN]
Karzai: bin Laden
'probably' dead
Osama bin Laden is "probably" dead, but
former Taliban leader Mullah Omar is alive, Afghan President Hamid Karzai has
said. [CNN]
FBI: Bin Laden 'probably'
dead
The US Federal Bureau of Investigation's
counter-terrorism chief, Dale Watson, says he thinks Osama bin Laden is
"probably" dead. [BBC]
Magazine runs what it calls
bin Laden's will
The editor-in-chief of a London-based Arab news
magazine said a purported will it published Saturday was written late last year
[2001] by Osama bin Laden, and shows "he's dying or he's going to die
soon." [CNN]
Why Does the Terrorist Kingpin Look Better Than He Did in
2001? Washington’s Blog
Hoax: White House Claims 4-Year-Old Bin Laden Video Is New
Footage
Then, of course, there’s
also: that ‘pearl harbor event’ so sought by the neo-cons / war mongers still
defies explanation (ie., the ‘stand-down order’, symmetrical implosions,
foreknowledge by some {who conveniently ‘missed the party’ that day}, etc..
Some links, echoing the unbelief akin to the ‘Jessica Lynch’, Tillman, etc., affairs follow. People must realize
that though having but 5% of the world’s
population, america can boast 76% of the world’s serial killers, and the
highest crime rates in the world by far.
]
Drudgereport: Treasury Auctions to Push US Over Debt Ceiling...
McCARTHY:
'Not one Republican vote' to borrow more without cuts...
'Greater
than expected' damage seen at Japan reactor...
Obama
Tells Companies to 'Step Up' and Hire Workers...
'Nothing
More Important' Than A Government Job… [ and if you believe the jive-talker, he
has some swampland in jersey he wants to sell you! ] ...
REPORT:
48 Women Raped Every Hour in Congo...
'DOLLAR
IN GRAVER DANGER THAN EURO'...
FORBES:
RETURN TO GOLD STANDARD WITHIN 5 YEARS...
In
S.C., legislature takes first step...
POLL: 1 in 5 say bin Laden alive...
MICHELLE:
KEEPS ON DANCING!
First
Lady to host rapper who talks of killing cops...
USA
FREAK OUT: TERROR FEARS; FALSE ALARMS...
Sen.
Schumer Calls For Amtrak 'Do Not Ride' List...
Two
tunnel 'breaches' cause scare in NYC...
Threats
Divert Planes in Three Separate Incidents...
Passengers,
flight crew subdue man banging on cockpit door...
Dallas
Train Station Evacuated: Man Asked For Help Carrying Packages...
4
Arrested For Videotaping TSA Line At Denver...
SHOCK PHOTO: TSA LOOKING FOR
'POOP BOMBS?'
U.S.-Pak.
Rift Widens...
Pak.
warns of 'full force' response to future US raids...
S&P
cuts Greece's rating...
BOEHNER
TO DEMAND NOT BILLIONS, BUT TRILLIONS
IN CUTS...
OIL
REBOUNDS; 2ND LARGEST GAIN ON RECORD...
REPORT:
Housing crash getting worse...
...values
fall fastest rate since '08
Michelle
Obama to host rapper at WH who talks of killing cops...
'COMMAND
CENTER'...
Pakistan
skeptical of U.S. claim bin Laden directed network...
Two loud explosions heard in town where bin Laden killed...
Videos
show 9-11 mastermind watching himself on TV...
U.S.
government censors tapes, cuts audio...
Inside
bin Laden's squalid home...
NYT:
Final days of domesticity...
Drone
Strike Kills 15 in Pakistan...
First
since bin Laden raid...
BIN LADEN
SUPPORTERS RAGE ON THE STREETS OF LONDON, VOW REVENGE...
Stage
mock funeral in front of US embassy...
Gas
nat'l average: $3.99...
Eats
9% of household budgets...
Average
price sets record in Indiana -- $4.25 a gallon...
$6.03
in Hawaii...
JAPAN
URGES HALT AT THREE REACTORS...
UNEMPLOYMENT
BACK UP TO 9.0%...
Fannie
Mae Reports $8.7B Loss for First Quarter...
Seeks
$8.5B more from taxpayers...
APRIL
JOBS: +244,000...
FUZZY
MATH: How can US add
jobs but the unemployment rate go up?
Gas
nat'l average: $3.99...
Eats
9% of household budgets...
Average
price sets record in Indiana -- $4.25 a gallon...
$6.03
in Hawaii...
Silver
Plunge Spreads...
OIL
GUTTED...
Price
Slide Temporary, New Highs Likely: Goldman...
Fears
linger of a new 'flash crash'...
Euro
Tumbles...
CNN
SHOCK POLL: RON PAUL HAS BEST CHANCE VS OBAMA
National
Home Prices Double Dip...
JOBLESS
CLAIMS RISE TO 8 MONTH HIGH...
Fears
linger of a new 'flash crash'...
9-11
FAMILY: 'SHOW US PROOF BIN LADEN KILLED'...
Victim's
father: Obama 'putting too much spotlight on himself'...
Channels
Bush at Ground Zero: 'We will never forget'...
Tells
teen survivor he knows
Justin Bieber...
Turns
Back on 9/11 Family Member...
AUDIO...
Muslim
Brotherhood urges review of Israel ties...
Pakistanis
burn U.S. flags; backlash over death grows...
Pakistan
officials: No resistance in 'cold-blooded' U.S. raid...
Warns
America not to stage any more...
Threatens
'disastrous consequences'...
Muslims
already name dump location 'Martyr's Sea'...
OBAMA,
NO PHOTOS OF OSAMA: 'We don't need to spike the football'...
'Conspiracy theorists will just claim doctored'...
Sen.
Scott Brown: 'I've seen picture, he's definitely dead'...
UPDATE:
Photo proving bin Laden's death to Sen. Brown was
faked...
three
senators fell for fakes...
UPDATE:
'The photo I saw and that a lot of other people saw is not authentic'...
Top
Dem: No photo needed, 'there's absolute proof'...
REUTERS RELEASES 'DEATH SCENE' PHOTOS
**WARNING GRAPHIC**
UPDATE: Photo proving bin Laden's death to Sen. Brown was faked...
Possibly
three senators fell for fakes...
Pakistan:
'Not a single bullet fired from compound'...
WIRE:
Photos from 1 hour after raid show 3 dead, no weapons...
The
Slippery Story of the bin Laden Kill...
Official says 'killed apparently
by the U.S. raid team'...
DOLLAR
HITS 3 YEAR LOW...
1
IN 7 ON FOOD STAMPS!
Job
numbers disappoint...
Treasury
suggests $2 trillion debt cap raise...
Postal
Service loses $2.2B in second quarter (Washington Post) [ And, let me add that they
deserved that loss. The USPS is totally unreliable and basically a jobs program
for the otherwise unemployable; and, they are also corrupt. I’ve previously set
forth the scenario where the postal service waylaid dvd disks sent
priority/confirmation and a second time, certified mail, to the FBI (violations
of federal law, tampering, obstruction, etc.), and ultimately additional copies
of said disks were delivered by the reliable, efficient, competitive,
performance-driven UPS (their parcel rates are roughly the same and yet half
the delivery time – Fedex is as unreliable as the USPS-and for some time had a
deal with the USPS). Amazon, Ebay, though a boon to the USPS, have consistently
failed to deliver in the realm of computers.
http://www.procomputercenter.com . Pro Computer Center is among the few
remaining stores of their kind. They are performance / service / customer
oriented like no other surviving computer retailer / repairer / service
providers I’ve experienced. They’ve also moved into the realm of computer
forensics / data recovery in the context of court proceedings where they’ve
successfully performed where others failed and at substantially more reasonable
rates than ‘the competition’. My most
recent computer problems accounting for some website / posting delays has been
once again been resolved by them and another Dell computer (the circumstances
of the most recent debacle was a barrage of Trojans caught by my antivirus, one
after another, then shutting down my antivirus, ultimately freezing (no boot)
my computer (I previously alluded to my reasonable suspicions as to who
perpetrated same). My experiences with such as Amazon, Ebay have been atrocious
and borderline if not outright fraudulent (the shoddy sellers), time consuming,
and aggravating in the ‘claims process’. Moreover, other retailers lay most of
the warrantee on the manufacturer. (Prior testimonial:
I just wanted
to extend to you and your company my sincere thanks for a job well done.. I
bought my first computer from you (Ben) in or around 1999. It was a Sony Vaio
laptop which owing to Windows Millenium and a very proprietary approach to
computing on the part of Sony, truth be told, was not the greatest system in
terms of stability, but no fault of yours. Ultimately, though functional, I
traded to you the Vaio for a Mac. You’ve always stood by your products /
service, are available / accessible to field / handle all questions / problems
which is rare indeed. In Armand you have a top-notch A+ Certified Tech who is patient,
knowledgeable, and talented. Ruben, in truth has been particularly instrumental
in seeing to a smooth transition in my recent dealings with your company as a
knowledgeable IT Specialist and especially as a savvy, capable manager. Since
1999 I’ve purchased five computers from you and based upon performance, the
sixth is assured.
Debt
ceiling battles have negotiation experts shaking their heads Professional
negotiators weigh in on lawmakers’ inept attempts to negotiate the national
debt ceiling. (Washington Post) [ Boehner
seeks more than $2 trillion in cuts (Washington Post) [ I’m sure I’m not alone in thinking
‘Riiiiight! … that’ll happen … and all
without cuts to endless war spending … while the situation’s more than that
dire, the advice is … don’t hold your breath!
Milbank:
The GOP’s juvenile debate (Washington Post) [ Mr. Milbank has
lamentably become the rush limbaugh / sean hannity of the newspaper world,
though he barks and apologizes for dems (and wobama the b for b*** s***) only
(as they for the gop / bushies only). A
political minefield in Treasury plan
(Washington Post) [ What plan!
. Let
the budget battle begin Congress returns to fight over the nation’s
solvency. (WP) [ Stated another way, the nation’s solvency is
over. .. america’s defacto bankrupt with no end in sight.. interest alone is
eating progressively into GDP beyond the subterfuge.. Gerson:
How serious are we about the deficit? (WP) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘..the
Philadelphia Fed collapsed from a revised 43.4 (a 27 year high) to 18.5, the
lowest since November 2010… This
is an especially great opportunity to sell / take profits while you still can
since there's much worse to come! U.S. Economy Remains on Life Support Hansen ‘
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
People must realize that though having but 5% of the world’s population, america
can boast 76% of the world’s serial killers and the highest crime rates in the
world by far. http://www.albertpeia.com/realifeamericaserialkillers.mpg . Defacto
bankrupt, fraudulent america also spends more on military spending than all the
nations of the world combined... federal employees / contractors, cia, all 3
branches of the u.s. government, etc., are included in this evolved american
trait of inherent criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ). That
perverse field of dreams I’ve previously alluded to, the american nightmare, if
you build / contrive war, they will come. And, they do; seals of them (among
others); and when their ‘tours’ are done, it’s murder inc./contract killing for
hire that they’ve won (cia, mob, etc.). The 20th century, the ‘bloodiest
century’, not coincidentally referred to as the american century, brings
longings of nostalgia to american criminals who, like Pavlov’s dogs salivate at the prospect of killing, raping, pillaging, and plundering
which primitive mindset they have mistakenly been conditioned to connect to
their now irretrievably lost success as a nation state; and to the contrary,
has become globally and domestically self-destructive / self-defeating. The
entire 911 / Bin Laden scenario just doesn’t pass the smell test and reeks of
political desperation and Orwellian opportunism.
AIG
to sell Treasury shares The government soon will begin unloading its 92.1
percent ownership stake in the bailout company. (Washington
Post) [ Who’s the unlucky sucker? Ultimately, a pension fund or two or three,
etc., or maybe you or an equally unlucky member of your family. Stock
market on a roll despite slowing economic growth, lingering
unemployment[Also known as reality! Roll … yes, indeed … everyone’s to get
rolled! ] (WP) Dow is up more than 10 percent for 2011, to its highest
point in nearly three years. [ Same bubble scenario preceeding last crash
(including currency manipulation); yet, far worse this time owing to
insurmountable debt and defacto bankruptcy of the nation.
Fed
Chairman Bernanke does reality TV
(WP) [ Except the ‘NO-RECESSION HELICOPTER BEN B.S. BERNANKE’ show is
scripted unreality … even with his reduction in estimate for ‘economic growth’,
the frauds on wall street still rallied.
Bernanke
prepares to make history (WP) [ He
already has! $6 gas acomin’, $1,508+ gold, $46+ silver, other commodities at
record levels, hyperinflation as predicted well on the way from over-printing
of fiat paper currency by fed as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
·
The extended
(and then further extended) unemployment benefits have kept an artificially
higher demand for consumer consumption. As a result, the US government has
artificially subsidized corporate profits.
·
The billions
saved through “free loading” by homeowners who have defaulted on their
mortgages yet maintained their residence, thus living without a mortgage payment.
·
The
artificially suppressed interest rates...
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
Fed
official calls for vigilance (WP)
[ Who’s still buying their
b***s***! Much higher prices / inflation’s already here. 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees (WP) (The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed), and have
used the mideast turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Bernanke
prepares to make history (WP) [ He already has! $6 gas acomin’..
hyperinflation as predicted well on the way from over-printing of fiat paper
currency by fed as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
Why Does the Terrorist Kingpin Look Better Than He Did in
2001? Washington’s Blog
Hoax: White House Claims 4-Year-Old Bin Laden Video Is New
Footage
Then, of course, there’s
also: that ‘pearl harbor event’ so sought by the neo-cons / war mongers still
defies explanation (ie., the ‘stand-down order’, symmetrical implosions,
foreknowledge by some {who conveniently ‘missed the party’ that day}, etc..
Some links, echoing the unbelief akin to the ‘Jessica Lynch’, Tillman, etc., affairs follow. People must realize that
though having but 5% of the world’s population,
america can boast 76% of the world’s serial killers, and the highest crime
rates in the world by far. ]
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv
People must realize that though having but 5% of the world’s population, america
can boast 76% of the world’s serial killers and the highest crime rates in the
world by far. http://www.albertpeia.com/realifeamericaserialkillers.mpg . Defacto
bankrupt, fraudulent america also spends more on military spending than all the
nations of the world combined... federal employees / contractors, cia, all 3
branches of the u.s. government, etc., are included in this evolved american
trait of inherent criminality ( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ). That
perverse field of dreams I’ve previously alluded to, the american nightmare, if
you build / contrive war, they will come. And, they do; seals of them (among
others); and when their ‘tours’ are done, it’s murder inc./contract killing for
hire that they’ve won (cia, mob, etc.). The 20th century, the ‘bloodiest
century’, not coincidentally referred to as the american century, brings
longings of nostalgia to american criminals who, like Pavlov’s dogs salivate at the prospect of killing, raping, pillaging, and plundering
which primitive mindset they have mistakenly been conditioned to connect to
their now irretrievably lost success as a nation state; and to the contrary,
has become globally and domestically self-destructive / self-defeating. The
entire 911 / Bin Laden scenario just doesn’t pass the smell test and reeks of
political desperation and Orwellian opportunism.
Fed
official calls for vigilance Action may be taken against even the
possibility of a surge of higher prices, Jeffrey M. Lacker says. (Washington
Post) [ Who’s still buying their
b***s***! Much higher prices / inflation’s already here. They conveniently have
said they’re using an ‘inflating strategy’ for asset prices, also known as
inflation. Why? Because high inflation is here! 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline’ ] States
face shortfall for retirees Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war
Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Bernanke
prepares to make history (WP) [ He already has! $6 gas acomin’, $1,508+
gold, $46+ silver, other commodities at record levels, hyperinflation as
predicted well on the way from over-printing of fiat paper currency by fed as
predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued according
to this valuation metric. The only time the markets have been more overvalued
was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009, corporate subsidies, etc.
Why Does the Terrorist Kingpin Look Better Than He Did in
2001? Washington’s Blog
Hoax: White House Claims 4-Year-Old Bin Laden Video Is New
Footage
Then, of course, there’s
also: that ‘pearl harbor event’ so sought by the neo-cons / war mongers still
defies explanation (ie., the ‘stand-down order’, symmetrical implosions,
foreknowledge by some {who conveniently ‘missed the party’ that day}, etc..
Some links, echoing the unbelief akin to the ‘Jessica Lynch’, Tillman, etc., affairs follow. People must realize
that though having but 5% of the world’s
population, america can boast 76% of the world’s serial killers, and the
highest crime rates in the world by far.
]
Boehner
seeks more than $2 trillion in cuts (Washington Post) [ I’m sure I’m not alone in thinking
‘Riiiiight! … that’ll happen … and all
without cuts to endless war spending … while the situation’s more than that
dire, the advice is … don’t hold your breath!
Milbank:
The GOP’s juvenile debate (Washington Post) [ Mr. Milbank has
lamentably become the rush limbaugh / sean hannity of the newspaper world,
though he barks and apologizes for dems (and wobama the b for b*** s***) only
(as they for the gop / bushies only). A
political minefield in Treasury plan
(Washington Post) [ What plan!
. Let
the budget battle begin Congress returns to a lengthy fight over the
nation’s solvency. (WP) [ Stated another way, the nation’s solvency is
over. .. america’s defacto bankrupt with no end in sight.. interest alone is
eating progressively into GDP beyond the subterfuge.. Gerson:
How serious are we about the deficit? (WP) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘..And here
comes the first indicator that Q2 GDP is about to be mass revised by everyone,
courtesy of Japan, and ongoing inflation pressures: the Philadelphia Fed
collapsed from a revised 43.4 (a 27 year high) to 18.5, the lowest since
November 2010… This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come!
U.S. Economy Remains on Life Support Hansen ‘
(Washington Post)
[ And don’t forget the troubled
states. Ask Meredith Whitney! She was right last time, and this time, like last
last time, she’s takin’ it on the chin from the permabull wall street frauds: Meredith
Whitney Sticks to Her Guns Today Roche ‘Talk about holding onto a losing
trade. At the Milken Conference yesterday, Meredith Whitney said there was
nothing controversial about her muni call, maintaining that she has more
conviction about the muni crisis call than anything in her entire career. Via
Bloomberg:
Whitney said on the
panel, “It’s not that big of a call..There’s nothing controversial about that
call, if you look at the numbers.”
“You can criticize me
for everything you want, I’m just numb to it because I have more conviction on
this than I’d had on any single thing in my career.”
On the same panel, David
Solomon, Goldman Sachs’ co-head of investment banking said, “I don’t think
we’re doomed. I think the resources available to us, and the changes that will
evolve as we come out of a very, very difficult economic period that we’ve been
stuck in over the past couple of years, will provide more flexibility than I
think Meredith believes.”
Whitney is certainly
right that the states are suffering fiscal woes; however, as we’ve seen in
Europe, there are mechanisms that can be utilized to combat these issues. While
I still maintain that there is a chance of local defaults, I think the United
States will be proactive in fending off a euro-style crisis.
And that means the US
federal government will do what it has always done. It will credit the bank
accounts of the states in order to ensure that any single municipality cannot
cause widespread economic hardship throughout the United States. This would be
nothing new. The US has always credited the bank accounts of the states that
are part of this union.
If Europe was truly
united, we would see the same thing occurring in Europe; however, because it's
not united, it instead chooses austerity due to fears of inflation. The reality
is that the ECB is not creating inflation; it's merely stopping the potentially
deflationary debacle that would ensue with sovereign defaults.
I would hope that a truly United States of America would be a bit more caring of its
own member states.’
Strange Week: Wall Street Takes a Dive Hansen
‘Strange week on Wall Street.
Weekly unadjusted
initial unemployment claims popped above the 2010 year-ago number.
http://static.seekingalpha.com/uploads/2011/5/8/saupload_z_unemployment2.png
US
Postal Service reports $2.2B loss for quarter... [ And, let me add
that they deserved that loss. The USPS is totally unreliable and basically a
jobs program for the otherwise unemployable; and, they are also corrupt. I’ve
previously set forth the scenario where the postal service waylaid dvd disks
sent priority/confirmation and a second time, certified mail, to the FBI
(violations of federal law, tampering, obstruction, etc.), and ultimately
additional copies of said disks were delivered by the reliable, efficient,
competitive, performance-driven UPS (their parcel rates are roughly the same
and yet half the delivery time – Fedex is as unreliable as the USPS-and for
some time had a deal with the USPS). Amazon, Ebay, though a boon to the USPS,
have consistently failed to deliver in the realm of computers / peripherals.
The following includes a prior testimonial to the service, reliability of PRO
Computer Center ( http://www.procomputercenter.com Pro Computer Center, 10837 Santa Monica Blvd., Los Angeles,
CA 90025 ) .
Pro Computer Center is among the few remaining stores of their kind. They are
performance / service / customer oriented like no other surviving computer
retailer / repairer / service providers I’ve experienced. They’ve also moved
into the realm of computer forensics / data recovery in the context of court
proceedings where they’ve successfully performed where others failed and at
substantially more reasonable rates than ‘the competition’. My most recent computer problems accounting
for some website / posting delays has been once again been resolved by them and
another Dell computer (the circumstances of the most recent debacle was a
barrage of Trojans caught by my antivirus, one after another, then shutting
down my antivirus, ultimately freezing (no boot) my computer (I previously
alluded to my reasonable suspicions as to who perpetrated same). My experiences
with such as Amazon, Ebay have been atrocious and borderline if not outright
fraudulent (the shoddy sellers), time consuming, and aggravating in the ‘claims
process’. Moreover, the other brick and mortar stores, even if reputable, have
a fine print which lays most of the warrantee/ guarantee on the manufacturer.
In sum, Pro Computer Center does not have any ‘real’ competition. They are
currently building me a backup computer that comports with my budget and their
survival as a company, though somewhat rare among computer retailers of their
type, is totally understandable and a testament to high quality performance and
service. (Prior testimonial:
Pro Computer Center
10837 Santa
Monica Blvd.
Los Angeles,
CA 90025
Gentlemen:
I just wanted
to extend to you and your company my sincere thanks for a job well done. The
Dell computer I recently purchased from you has lived up to all your
representations and as well, my own expectations. I bought my first computer
from you (Ben) in or around 1999. It was a Sony Vaio laptop which owing to
Windows Millenium and a very proprietary approach to computing on the part of
Sony, truth be told, was not the greatest system in terms of stability (typical
Millenium problems), but no fault of yours. Ultimately, though functional, I
traded the Vaio for a Mac, an accommodation by your company seldom seen with
other companies if at all (3+ years later). You’ve always stood by your
products / service, are available / accessible to field / handle all questions
/ problems which is rare indeed. In Armand you have a top-notch A+ Certified
Tech who is patient, knowledgeable, and talented. Ruben, in truth has been
particularly instrumental in seeing to a smooth transition in my recent
dealings with your company as a knowledgeable IT Specialist and especially as a
savvy, capable manager. Since 1999 I’ve purchased five computers from you and
based upon performance, the sixth is assured.
Sincerely,
Albert L.
Peia ) ]
Marcus Baram over at
Huffington Post has a thoroughly
reported piece on Trump University on Friday. I have spent part of the past
week digging into some of the same issues that Baram did.
The case against Trump
University alleges that “The primary lesson Trump University teaches its
students is how to spend more money by buying more Trump Seminars.” Students
say they were encouraged to raise the credit limit on their credit cards so
they could spend up to $35,000 to take a Trump University multi-day seminar.
The case is not new –it
was filed last year in U.S. District Court in San Diego –but the judge may rule
on it as soon as this month. The complaint in the suit says attorneys general
in six states have received “numerous complaints against Trump University” and
the Texas Attorney General began investigating in January 2010.
George Sorial, assistant
general counsel at the Trump Organization, denies the suit’s claims. Sorial
told me that 11,000 students have taken Trump University courses and most have
been happy. He sent me copies of customer satisfaction surveys that rank the
courses highly. He also sent a video interview with Tarla Makaeff, one of the
plaintiffs in the class action suit, taken in August 2008 in Los Angeles after
a Trump U seminar, in which she praises the program.
Makaeff, a former
fashion and handbag designer in San Diego, says via email that the video
interview of her was manipulative, and that before it was taken she had already
complained toTrump University about not making any money off her $35,000
investment in a seminar. “They … knew I had to give a positive response
[in the video] and cooperate with them and a camera being shoved in my face in
order to get further support and services from them for my $35,000 investment
which I had yet to make any money off in 1 year despite verbal promises
otherwise since day one,” Makaeff continues in an email.
The Trump Organization
has also countersued Makaeff for $1 million, alleging defamation. A judge has
denied Makaeff’s motion to dismiss the counterclaim. Call it the case of the
billionaire vs. the handbag designer.
The question is what
affect, if any, the lawsuits might have on billionaire Donald Trump, should he
decide to run for president. Oh, and there’s a lesson, too. Before you decide
to spend $35,000 on a Trump University seminar, remember what its lawyers say:
“Trump University cannot guarantee riches any more than Harvard University can
guarantee a Rhodes Scholarship or MIT can guarantee a Nobel Prize.”
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
TRUMP
TO GIBBS: YOU'RE 'A LOSER' [‘Another trumped-up case of the pot calling the
kettle black’]... TRUMP: Obama
Not Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically,
Donald with the mantra, ‘you’re a killer, you’re a king’ in film noir
melodramatic fashion which proved too much for the more balanced and ‘chosen /
favored’ elder brother trump who committed suicide. The old man also required
trump to go to prep / military / boarding school where according to a
classmate, Ted Levine, trump used to wet / pee in his bed. ) vegetable garden in the same manner as
dumbya bush … mobster trump and people like trump are part of the problem
(total b*** s***, fraud, etc., as in his home turf, mob-infested sinkholes,
jersey / new york), not the solution. Indeed, trump is an interesting mental
case in that he evolved from narcissist (those inflated grandiose moods coupled
with feelings of inferiority – he loved to obsessively read those hitler
speeches for inspiration and to pump himself up according to Ivana Trump) to
severe case of antisocial personality disorder [ predatory disregard for and
violation of the rights of others – hence, those sophomoric soundbite solutions
to complex problems as, ie., taking oil fields(Libya), 25% tariff on Chinese
(actually including american goods made in China), drug money laundering in his
casinos, bribery, etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
In a rational nation that
wasn’t in decline as pervasively corrupt, defacto bankrupt america, trump and
sister Maryanne would both be in prison.
'Terrible
student,' not good enough for Harvard... Biden
daughter trashes Trump...
Bill Cosby slams: 'He's
full of it!'...
Trump
Takes On NYT, Gail Collins...
Admires
her for surviving 'so long with so little talent'...
NBCWSJ
POLL SHOCK: TRUMP #2 GOP [ NBC
where t_rump has his Jerry Springer
derivative shock-jock show and sinkhole new york's fraud street journal … poll?
… Don't make me laugh … Lawrence O'Donnell insists parent company NBC consider
firing Donald Trump Daily
Caller ... Milbank: Donald
trumps CPAC | Gibbs
gone (Washington
Post) [ Trump’s a loser, dressed up and
propped up by and to shill for a declining, fallen nation in the most corrupt
regions (ie., new york, jersey, etc.) of the country (every fallen nation has
such); of that there is no question …"Over the years I've participated in
many battles and have really almost come out very, very victorious every single
time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s
never won a battle that wasn’t fixed in advance (including the ‘pre-packaged
bankrupcies’ crammed down the throats of objecting creditors – jersey general ]
He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve
Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people
and companies, and I've won many wars," he added. (Though he didn't serve
in the military.) "I have fairly [according to mobster rules; ie.,
bribery, money laundering, etc.] but intelligently [ as any other mob boss …
trump is total b*** s***, a fraud, and lightweight … and, despite the façade,
quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of
american decline and part of the problem, not the solution! …trump also said america’s
become the laughingstock of the world … true enough … and trump the biggest
joke … NEWS FLASH: Direct from Lost Angeles Learning
Annex – Presenting mobster t_rump of new yoke, new joyzey, and now caleefornia
mob fame with his continuing message for the past several years: buy real
estate (and watch the values go down…..riiiiight!).
Bank
sues Trump over Chicago tower loan...
Trump
casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal
Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With
Employee Killed – What else would you you expect from a mobster’s casino in
mob-infested jersey!
Trump luxury resort
folds, leaving buyers defrauded…litigation has commenced…send for sister
maryanne, the corrupt federal judge to preside, coverup, etc., she’s in
n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud
and handles her own motions to recuse her and like mobster trump should be in
jail ... (see RICO Case)] earned many billions of dollars
[ at whose expense ], which in a sense was both a scorecard and acknowledgment
of my abilities [ to fool most of the people, all of the time. ] ." TRUMP
DRAWS CHEERS, BOOS AT CONSERVATIVE CONFERENCE... PONDERING
PRESIDENTIAL RUN... [Don’t make me laugh! … Donald
T_rump Would Impose 25% Tax on China Imports if President [
trump also said america’s become the laughingstock of the world … true
enough … and trump the biggest joke … Indeed, that trump even posits the
possibility of a run when he should be in jail is a testament to just how big a
laughingstock pervasively corrupt, defacto bankrupt america’s become! [ If he was mobster in chief, mobster and
scoundrel trump wraps himself in populist american flag and offers up an (too
little too late – typical lightweight) implausible solution to keep ‘the juice’
flowing though he’d already be in jail in a rational, non-declining nation with
meaningful laws. All China has to do is dump (and not prospectively buy) their
ever more and declining in value day-by-day (from dollar debasement policies)
u.s. paper / bonds and overnight and the u.s. economy consequently thereby collapse. [ When you come right down
to it, this has been america’s most significant export. Indeed, this
irrevocable structural shift, hailed by cia men hw bush and clinton (clinton
couldn’t have survived with them) by way of NAFTA as the greatest thing since sliced bread was indeed in no
uncertain terms condemned and warned against by Perot, a man of honor who,
unlike his opponents, could not be bought, which is the reason, in pervasively
corrupt america, he could never have been elected. Interestingly, you may have
noticed the good (but not great, other than the spotlight on pervasive bribery
including judges, police, politicians, etc., being far too light) the film ‘The
Untouchables’ getting a wide re-airing of late, purporting to be a significant
part of american folklore / history / culture. However, the reality is that in
america, and certainly today, the real story with impact is that of ‘The
Touchables’. The reality is that Elliot Ness died a broken man; bankrupt,
unable to even win election to the mayoralty of his then current hometown. He
was incorruptible; and hence, in the real america, unelectable at the least if
not also all but unemployable (he and his are among those few genetic anomalies
in america as I’ve previously alluded to. How far america has fallen from even
false perception! Pervasively corrupt, meaningfully lawless america can’t even
fake it anymore. See, for example, http://albertpeia.com/CIAAgentAffidavit1.jpg http://albertpeia.com/FBIAgentAffidavit11.jpg , and of course, corrupt
legal / judicial processes, etc., Defacto bankrupt, fraudulent america also spends more on
offensive (defensive a misnomer / propaganda) military spending than all the
nations of the world combined, and by a large margin at that. Do you see a
pattern emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
… The pervasively corrupt
american illegal system … corrupt u.s. courts / (lawyers) / judges: Their
lifetime plush appointments should be abolished, which corrupt entities are
unheard of in productive societies as China, Japan, etc.. Time to abolish these
drags on society and eliminate their lifetime stipends and costly bureaucracies.
Rules of law mean nothing to these typically corrupt americans. Most, including
sam alito of the u.s. supreme court, concerning drug money laundering and
obstruction of justice in the 3rd circuit ( also maryanne trump
barry who covered-up drug money laundering through her brother’s casinos in a
civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it for the
money, personal money, big, cash, untraceable money. The fog of war is great
for such things (360 tons $100 bills flown into Iraq and missing, etc.). [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt
nation. ] “I would announce, without
equivocation, a 25% tax increase on anything purchased from China.” ]
Drudgereport: US
Postal Service reports $2.2B loss for quarter...
MICHELLE:
KEEPS ON DANCING!
First
Lady to host rapper who talks of killing cops...
USA
FREAK OUT: TERROR FEARS; FALSE ALARMS...
Sen.
Schumer Calls For Amtrak 'Do Not Ride' List...
Two
tunnel 'breaches' cause scare in NYC...
Threats
Divert Planes in Three Separate Incidents...
Passengers,
flight crew subdue man banging on cockpit door...
Dallas
Train Station Evacuated: Man Asked For Help Carrying Packages...
4
Arrested For Videotaping TSA Line At Denver...
SHOCK PHOTO: TSA LOOKING FOR
'POOP BOMBS?'
U.S.-Pak.
Rift Widens...
Pak.
warns of 'full force' response to future US raids...
S&P
cuts Greece's rating...
BOEHNER
TO DEMAND NOT BILLIONS, BUT TRILLIONS
IN CUTS...
OIL
REBOUNDS; 2ND LARGEST GAIN ON RECORD...
REPORT:
Housing crash getting worse...
...values
fall fastest rate since '08
Michelle
Obama to host rapper at WH who talks of killing cops...
'COMMAND
CENTER'...
Pakistan
skeptical of U.S. claim bin Laden directed network...
Two loud explosions heard in town where bin Laden killed...
Videos
show 9-11 mastermind watching himself on TV...
U.S.
government censors tapes, cuts audio...
Inside
bin Laden's squalid home...
NYT:
Final days of domesticity...
Drone
Strike Kills 15 in Pakistan...
First
since bin Laden raid...
BIN LADEN
SUPPORTERS RAGE ON THE STREETS OF LONDON, VOW REVENGE...
Stage
mock funeral in front of US embassy...
Gas
nat'l average: $3.99...
Eats
9% of household budgets...
Average
price sets record in Indiana -- $4.25 a gallon...
$6.03
in Hawaii...
JAPAN
URGES HALT AT THREE REACTORS...
UNEMPLOYMENT
BACK UP TO 9.0%...
Fannie
Mae Reports $8.7B Loss for First Quarter...
Seeks
$8.5B more from taxpayers...
APRIL
JOBS: +244,000...
FUZZY
MATH: How can US add
jobs but the unemployment rate go up?
Gas
nat'l average: $3.99...
Eats
9% of household budgets...
Average
price sets record in Indiana -- $4.25 a gallon...
$6.03
in Hawaii...
Silver
Plunge Spreads...
OIL
GUTTED...
Price
Slide Temporary, New Highs Likely: Goldman...
Fears
linger of a new 'flash crash'...
Euro
Tumbles...
CNN
SHOCK POLL: RON PAUL HAS BEST CHANCE VS OBAMA
National
Home Prices Double Dip...
JOBLESS
CLAIMS RISE TO 8 MONTH HIGH...
Fears
linger of a new 'flash crash'...
9-11
FAMILY: 'SHOW US PROOF BIN LADEN KILLED'...
Victim's
father: Obama 'putting too much spotlight on himself'...
Channels
Bush at Ground Zero: 'We will never forget'...
Tells
teen survivor he knows
Justin Bieber...
Turns
Back on 9/11 Family Member...
AUDIO...
Muslim
Brotherhood urges review of Israel ties...
Pakistanis
burn U.S. flags; backlash over death grows...
Pakistan
officials: No resistance in 'cold-blooded' U.S. raid...
Warns
America not to stage any more...
Threatens
'disastrous consequences'...
Muslims
already name dump location 'Martyr's Sea'...
OBAMA,
NO PHOTOS OF OSAMA: 'We don't need to spike the football'...
'Conspiracy theorists will just claim doctored'...
Sen.
Scott Brown: 'I've seen picture, he's definitely dead'...
UPDATE:
Photo proving bin Laden's death to Sen. Brown was
faked...
three
senators fell for fakes...
UPDATE:
'The photo I saw and that a lot of other people saw is not authentic'...
Top
Dem: No photo needed, 'there's absolute proof'...
REUTERS RELEASES 'DEATH SCENE' PHOTOS
**WARNING GRAPHIC**
UPDATE: Photo proving bin Laden's death to Sen. Brown was faked...
Possibly
three senators fell for fakes...
Pakistan:
'Not a single bullet fired from compound'...
WIRE:
Photos from 1 hour after raid show 3 dead, no weapons...
The
Slippery Story of the bin Laden Kill...
Official says 'killed apparently
by the U.S. raid team'...
DOLLAR
HITS 3 YEAR LOW...
1
IN 7 ON FOOD STAMPS!
Job
numbers disappoint...
Treasury
suggests $2 trillion debt cap raise...
Boehner
seeks more than $2 trillion in cuts (Washington Post) [ I’m sure I’m not alone in thinking
‘Riiiiight! … that’ll happen … and all
without cuts to endless war spending … while the situation’s more than that
dire, the advice is … don’t hold your breath!
Milbank:
The GOP’s juvenile debate (Washington Post) [ Mr. Milbank has
lamentably become the rush limbaugh / sean hannity of the newspaper world,
though he barks and apologizes for dems (and wobama the b for b*** s***) only
(as they for the gop / bushies only). A
political minefield in Treasury plan
(Washington Post) [ What plan!
. Let
the budget battle begin Congress returns to a lengthy fight over the
nation’s solvency. (WP) [ Stated another way, the nation’s solvency is
over. .. america’s defacto bankrupt with no end in sight.. interest alone is
eating progressively into GDP beyond the subterfuge.. Gerson:
How serious are we about the deficit? (WP) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘..And here
comes the first indicator that Q2 GDP is about to be mass revised by everyone,
courtesy of Japan, and ongoing inflation pressures: the Philadelphia Fed
collapsed from a revised 43.4 (a 27 year high) to 18.5, the lowest since
November 2010… This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come!
U.S. Economy Remains on Life Support Hansen ‘
Tea
party vs. the RINOs Activists and lawmakers are split on what’s next. (Washington Post) [ Ah, yes! Those activists … those
musket-bearing tea partyers … riiiiight, gotcha. What Mr. Milbank conveniently
omits (too obvious, maybe?) is that the Tea Party is particularly adversarial
to the DINs (democrat in name). Truth be told, I really don’t follow the Tea
Party; but, it’s also true I don’t follow the democrats or republicans either.
After all, I don’t consider myself a lemming, propelled to the precipice so to
speak; and, moreover, posit an inevitable futility in light of past (and
future) events. If only they had listened … made love, not war! Well, like the
scorpion, it’s in their nature (I’m sure you remember that fable). Speaking of
fables, they’re getting downright primetime:
The Osama Deception Corbett Report | James Corbett breaks
down the Osama raid hoax and the “home video” footage.
Why Does the Terrorist Kingpin Look Better Than He Did in
2001? Washington’s Blog
| In the newly-release videos, Bin Laden looks better than he did years ago.
Hoax: White House Claims 4-Year-Old Bin Laden Video Is New
Footage Paul Joseph Watson
| Dubious Bin Laden “Home Movies” Identical To Tapes Released 4 Years Ago By
Pentagon Front Group
Then, of course, there’s also: that ‘pearl harbor
event’ so sought by the neo-cons / war mongers still defies explanation (ie.,
the ‘stand-down order’, symmetrical implosions, foreknowledge by some {who
conveniently ‘missed the party’ that day}, etc.. Some links, echoing the
unbelief akin to the ‘Jessica Lynch’, Tillman,
etc., affairs follow. People must realize that though
having but 5% of the world’s population, america can boast 76% of the world’s
serial killers, and the highest crime rates in the world by far. ]
(Washington Post)
[ And don’t forget the troubled
states. Ask Meredith Whitney! She was right last time, and this time, like last
last time, she’s takin’ it on the chin from the permabull wall street frauds: Meredith
Whitney Sticks to Her Guns Today Roche ‘Talk about holding onto a losing
trade. At the Milken Conference yesterday, Meredith Whitney said there was
nothing controversial about her muni call, maintaining that she has more
conviction about the muni crisis call than anything in her entire career. Via
Bloomberg:
Whitney said on the
panel, “It’s not that big of a call..There’s nothing controversial about that
call, if you look at the numbers.”
“You can criticize me
for everything you want, I’m just numb to it because I have more conviction on
this than I’d had on any single thing in my career.”
On the same panel, David
Solomon, Goldman Sachs’ co-head of investment banking said, “I don’t think
we’re doomed. I think the resources available to us, and the changes that will
evolve as we come out of a very, very difficult economic period that we’ve been
stuck in over the past couple of years, will provide more flexibility than I
think Meredith believes.”
Whitney is certainly
right that the states are suffering fiscal woes; however, as we’ve seen in
Europe, there are mechanisms that can be utilized to combat these issues. While
I still maintain that there is a chance of local defaults, I think the United States
will be proactive in fending off a euro-style crisis.
And that means the US
federal government will do what it has always done. It will credit the bank
accounts of the states in order to ensure that any single municipality cannot
cause widespread economic hardship throughout the United States. This would be
nothing new. The US has always credited the bank accounts of the states that
are part of this union.
If Europe was truly
united, we would see the same thing occurring in Europe; however, because it's
not united, it instead chooses austerity due to fears of inflation. The reality
is that the ECB is not creating inflation; it's merely stopping the potentially
deflationary debacle that would ensue with sovereign defaults.
I would hope that a truly United States of America would be a bit more caring of its
own member states.’
Strange Week: Wall Street Takes a Dive Hansen
‘Strange week on Wall Street.
Weekly unadjusted
initial unemployment claims popped above the 2010 year-ago number.
http://static.seekingalpha.com/uploads/2011/5/8/saupload_z_unemployment2.png
Milbank:
The GOP’s juvenile debate (Washington Post) [ Mr. Milbank has
lamentably become the rush limbaugh / sean hannity of the newspaper world,
though he barks and apologizes for dems (and wobama the b for b*** s***) only
(as limbaugh / hannity for the gop / bushies only). A
political minefield in Treasury plan
(Washington Post) Questions
about deficit and growth complicate Treasury’s plan to overhaul corporate
taxes. [ What plan! . Let
the budget battle begin After two weeks of tumultuous meetings with constituents,
Congress returns to a lengthy fight over the nation’s solvency. (WP) [ Or
more aptly put, stated another way, the nation’s solvency is over. .. america’s
defacto bankrupt with no end in sight.. interest alone is eating progressively
into GDP beyond the subterfuge.. Gerson:
How serious are we about the deficit? (WP) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘..And here
comes the first indicator that Q2 GDP is about to be mass revised by everyone,
courtesy of Japan, and ongoing inflation pressures: the Philadelphia Fed
collapsed from a revised 43.4 (a 27 year high) to 18.5, the lowest since
November 2010… This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come!
U.S. Economy Remains on Life Support Hansen ‘
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Pledge
not squaring with reality Obama’s
vow to boost middle-class economic security at odds with corporate profits,
unemployment. (Washington Post) [CEOs’
pay: It’s as if the Great Recession never happened (Washington Post) The typical big-business CEO made $9 million
last year, exceeding pre-recession level. [ And ‘worth every penny’? Not likely
in pervasively corrupt, defacto bankrupt america, leaders no more except in
fraud, crime, manipulation, subterfuge. Imagine the comparisons to their
foreign counterparts where value still has meaning. As if ‘never happened? How
‘bout not over, and worse to come! UBS
bank admits rigging bids (WP) Swiss
bank reaped millions of dollars of illegal profits by rigging municipal bond
transactions in 36 states, government said. [ The key here is ‘Swiss’ and
‘millions of dollars of illegal profits’ when the american banks / wall street
frauds’ generated hundreds of billions in illegal profits, which frauds
continue to this day by way of slightly subdued high-frequency trading /
commission-generated scams along with cover-up and cash-out from the last,
still unprosecuted fraud in the trillions for which disgorgement, fines is long
overdue. 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009 Study:
Affordable rentals scarce (WP) Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
]
Meredith
Whitney Sticks to Her Guns Today Roche ‘Talk about holding onto a losing
trade. At the Milken Conference yesterday, Meredith Whitney said there was
nothing controversial about her muni call, maintaining that she has more
conviction about the muni crisis call than anything in her entire career. Via
Bloomberg:
Whitney said on the
panel, “It’s not that big of a call..There’s nothing controversial about that
call, if you look at the numbers.”
“You can criticize me
for everything you want, I’m just numb to it because I have more conviction on
this than I’d had on any single thing in my career.”
On the same panel, David
Solomon, Goldman Sachs’ co-head of investment banking said, “I don’t think
we’re doomed. I think the resources available to us, and the changes that will
evolve as we come out of a very, very difficult economic period that we’ve been
stuck in over the past couple of years, will provide more flexibility than I
think Meredith believes.”
Whitney is certainly
right that the states are suffering fiscal woes; however, as we’ve seen in
Europe, there are mechanisms that can be utilized to combat these issues. While
I still maintain that there is a chance of local defaults, I think the United
States will be proactive in fending off a euro-style crisis.
And that means the US
federal government will do what it has always done. It will credit the bank
accounts of the states in order to ensure that any single municipality cannot
cause widespread economic hardship throughout the United States. This would be
nothing new. The US has always credited the bank accounts of the states that
are part of this union.
If Europe was truly
united, we would see the same thing occurring in Europe; however, because it's
not united, it instead chooses austerity due to fears of inflation. The reality
is that the ECB is not creating inflation; it's merely stopping the potentially
deflationary debacle that would ensue with sovereign defaults.
I would hope that a
truly United States of America
would be a bit more caring of its own member states.’
Don't
Be Fooled By The Jobs Report Harding
‘This was a week that confirmed that the economic recovery has stalled.
We knew from the
previous week that economic growth (GDP) slowed to just 1.8% in the March
quarter from 3.1% in the December quarter. This week it was reported that
the ISM Non-Mfg Index, which tracks the service sector of the economy, plunged
to 52.8 in April from 57.3 in March (versus the consensus estimate of
economists that it would improve to 57.8).
It was a shocking report
since the ISM Non-Manufacturing Index covers just about every business sector–
everything from education, healthcare, finance, insurance and retail, to
technology services, transportation, and mining, accounting for more than 80%
of U.S. employment. At the same time it was reported that the ISM New Orders
Index also plunged substantially, from 64.1 in March to 52.7 in April, not
encouraging for service sector business activity for the next few months.
Commodity markets,
already worried about what slowing global economies would do to demand for
materials and supplies, reacted with further substantial declines. By the close
on Thursday, the price of crude oil had collapsed from its high of $114.80 a
barrel a week ago, to $99.75. The S&P GSCI Index of 24 raw materials fell
11.5% in just five days.
Fortunately, the stock
market’s reaction to the further evidence that the economic recovery is in
trouble was more muted. By the close on Thursday, the S&P 500 was down only
1.8% for the week.
And thankfully, on
Friday morning the Labor Department released its monthly jobs report, which
showed that 244,000 new jobs were created in April, 60,000 more than had been
forecast, and the stock market surged up in reaction, with the Dow up 150
points within minutes of the market’s open.
Indeed the jobs report
was good news, even though it was also reported that the unemployment rate rose
to 9.0% from its previous level of 8.8%. But did the better than expected jobs
report cancel out the even more surprising plunge in the ISM service sector
index in April, reported the previous day?
I don’t think so. Even
within the employment report the numbers show that 13.7 million people remained
unemployed in April, still almost double the number just before the last
recession began in December, 2007. Including part-time workers who have
not been able to find full-time jobs, and those who have given up looking for a
job, the “underemployed” rate rose to 15.9% in April. That seems to more
closely resemble what the ISM Index said about the economy slowing further in
April.
And here’s the thing
about the Labor Department’s monthly jobs report. As my subscribers know, I
have always called it ‘The Big One’
as far as economic reports go. That’s because it’s so difficult for economists
to forecast that it comes in with a big surprise in one direction or the other
more often than any other series of reports. And that surprise results in a one
or two day triple-digit move by the Dow in one direction or the other more
often than any other report.
But the rest of that
pattern is that the move is then most often reversed over the following two or
three days, and the market returns to whatever its focus was before the report.
In this instance, with
the 1st quarter earnings reporting season pretty much over, that is
liable to be a refocus on the slowing economic recovery that had it troubled
prior to the jobs report.
Meanwhile, the collapse
in commodity prices was another example of what happens when markets become
overbought, and investor sentiment reaches extremes of bullishness, as was the
case with commodities. The consensus opinion a week ago was that they could
only move higher. $2,000 gold, $75 silver, $150 a barrel oil seemed assured.
But when a surprise hits and investors head in a rush for the exit they
discover they can’t all get through the door at once. Since most everyone
interested in commodities was already invested there was no one willing to buy
what they wanted to sell except at much lower prices.
Perhaps a cautionary
tale for the stock market as it enters its unfavorable season with investors so
bullish and anxious to jump in on any dip?’
Three-Theme Monty: Economic Conditions, Commodity Rally / Rout,
Euro Crisis
A Rough Week for World Markets Short ‘This past week was a downer across major
world markets. The Nikkei 225 is the one index showing a fractional gain, but
it was closed three of the last six market days. The DAX was down fractionally,
but the other markets finished deeper in the red. The table below shows the
three-week trend of the seven markets I've been tracking in this series.
[ chart http://static.seekingalpha.com/uploads/2011/5/9/saupload_world_indexes_weekly_comp_110506_table.png ]
The chart below
illustrates the comparative performance of World Markets since March 9, 2009.
The start date is arbitrary: The S&P 500 and BSE SENSEX hit their lows on
March 9th, the Nikkei 225 on March 10th, the DAX on March 6th, the FTSE on
March 3rd, the Shanghai Composite on November 4, 2008, and the Hang Seng even
earlier on October 27, 2008. However, by aligning on the same day and measuring
the percent change, we get a better sense of the relative performance than if
we align the lows.
[ chart Click
for a larger image ]
A Longer Look Back
Here is the same chart
starting from the turn of 21st century. The relative over-performance of the
emerging markets (Shanghai, Mumbai, Hang Seng) is readily apparent.
[ chart Click
for a larger image ]‘
Alan Greenspan “Betrayed” Ayn Rand [ Ayn Rand … Is
that all? … If it was only Ayn Rand ]
and Ruined the Economy [ With ‘no-recession-helicopter-ben’s coup de
grace’, so to speak, in finishing ‘the job’. ] - Aaron Task "Ayn Rand would have
never advocated for the kind of policies Alan Greenspan instituted," says
Yaron Brook, President of the Ayn Rand Institute.
The
Cost of Bin Laden: $3 Trillion Over 15 Years What do we have to show for
that tab? Two wars that continue to occupy 150,000 troops and tie up a quarter
of our defense budget; a bloated homeland-security apparatus that has at times
pushed the bounds of civil liberty.
My
mother is still gone The daughter of
a 9/11 victim reflects on bin Laden’s death. (Washington Post) Parker:
Bin Laden death was anti-climactic [ Paul
Craig Roberts: What Is The Agenda Behind The Bin Laden Fable? The US
government’s bin Laden story was so poorly crafted that it did not last 48
hours before being fundamentally altered. What agenda or agendas is the “death
of bin Laden” designed to further? US Government Contractor Claims “Al-Qaeda” Has Confirmed
Bin Laden Fairytale Paul
Joseph Watson | SITE organization was behind release of fake
“Al-Qaeda” tapes released at politically opportune times stretching back
years Red Alert: Help Stop False Flag Terror Infowars.com | Alex warns about the
potential for another false flag attack, urging listeners to call the White
House. Terrorist Hunter: General Under Wolfowitz Told Me 9/11
Was False Flag Infowars.com
| Government insider Dr. Steve R. Pieczenik cannot be dismissed as a
“conspiracy theorist.” Pieczenik: The Psychological Resurrection of Osama Bin
Laden Infowars.com
| Critically acclaimed author of psycho-political thrillers, Steve Pieczenik
continues his analysis of the so-called death of Osama bin Laden. The
Cost of Bin Laden: $3 Trillion Over 15 Years What do we have to show for
that tab? Two wars that continue to occupy 150,000 troops and tie up a quarter
of our defense budget; a bloated homeland-security apparatus that has at times
pushed the bounds of civil liberty.
The
Week Ahead: Is the Worst Over? [ Over?
Much worse is yet to come! This is an especially great opportunity to sell / take profits while
you still can since there's much, much worse to come! ]
Marcus Baram over at
Huffington Post has a thoroughly
reported piece on Trump University on Friday. I have spent part of the past
week digging into some of the same issues that Baram did.
The case against Trump
University alleges that “The primary lesson Trump University teaches its
students is how to spend more money by buying more Trump Seminars.” Students
say they were encouraged to raise the credit limit on their credit cards so
they could spend up to $35,000 to take a Trump University multi-day seminar.
The case is not new –it
was filed last year in U.S. District Court in San Diego –but the judge may rule
on it as soon as this month. The complaint in the suit says attorneys general
in six states have received “numerous complaints against Trump University” and
the Texas Attorney General began investigating in January 2010.
George Sorial, assistant
general counsel at the Trump Organization, denies the suit’s claims. Sorial
told me that 11,000 students have taken Trump University courses and most have
been happy. He sent me copies of customer satisfaction surveys that rank the
courses highly. He also sent a video interview with Tarla Makaeff, one of the
plaintiffs in the class action suit, taken in August 2008 in Los Angeles after
a Trump U seminar, in which she praises the program.
Makaeff, a former
fashion and handbag designer in San Diego, says via email that the video
interview of her was manipulative, and that before it was taken she had already
complained toTrump University about not making any money off her $35,000
investment in a seminar. “They … knew I had to give a positive response
[in the video] and cooperate with them and a camera being shoved in my face in
order to get further support and services from them for my $35,000 investment
which I had yet to make any money off in 1 year despite verbal promises
otherwise since day one,” Makaeff continues in an email.
The Trump Organization
has also countersued Makaeff for $1 million, alleging defamation. A judge has
denied Makaeff’s motion to dismiss the counterclaim. Call it the case of the
billionaire vs. the handbag designer.
The question is what
affect, if any, the lawsuits might have on billionaire Donald Trump, should he
decide to run for president. Oh, and there’s a lesson, too. Before you decide
to spend $35,000 on a Trump University seminar, remember what its lawyers say:
“Trump University cannot guarantee riches any more than Harvard University can
guarantee a Rhodes Scholarship or MIT can guarantee a Nobel Prize.”
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
TRUMP
TO GIBBS: YOU'RE 'A LOSER' [‘Another trumped-up case of the pot calling the
kettle black’]... TRUMP: Obama
Not Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically,
Donald with the mantra, ‘you’re a killer, you’re a king’ in film noir melodramatic
fashion which proved too much for the more balanced and ‘chosen / favored’
elder brother trump who committed suicide. The old man also required trump to
go to prep / military / boarding school where according to a classmate, Ted
Levine, trump used to wet / pee in his bed.
) vegetable garden in the same manner as dumbya bush … mobster trump and
people like trump are part of the problem (total b*** s***, fraud, etc., as in
his home turf, mob-infested sinkholes, jersey / new york), not the solution.
Indeed, trump is an interesting mental case in that he evolved from narcissist
(those inflated grandiose moods coupled with feelings of inferiority – he loved
to obsessively read those hitler speeches for inspiration and to pump himself
up according to Ivana Trump) to severe case of antisocial personality disorder
[ predatory disregard for and violation of the rights of others – hence, those
sophomoric soundbite solutions to complex problems as, ie., taking oil
fields(Libya), 25% tariff on Chinese (actually including american goods made in
China), drug money laundering in his casinos, bribery, etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
In a rational nation that
wasn’t in decline as pervasively corrupt, defacto bankrupt america, trump and
sister Maryanne would both be in prison.
'Terrible
student,' not good enough for Harvard... Biden
daughter trashes Trump...
Bill Cosby slams: 'He's
full of it!'...
Trump
Takes On NYT, Gail Collins...
Admires
her for surviving 'so long with so little talent'...
NBCWSJ
POLL SHOCK: TRUMP #2 GOP [ NBC
where t_rump has his Jerry Springer
derivative shock-jock show and sinkhole new york's fraud street journal … poll?
… Don't make me laugh … Lawrence O'Donnell insists parent company NBC consider
firing Donald Trump Daily
Caller ... Milbank: Donald
trumps CPAC | Gibbs
gone (Washington
Post) [ Trump’s a loser, dressed up and
propped up by and to shill for a declining, fallen nation in the most corrupt
regions (ie., new york, jersey, etc.) of the country (every fallen nation has
such); of that there is no question …"Over the years I've participated in
many battles and have really almost come out very, very victorious every single
time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s
never won a battle that wasn’t fixed in advance (including the ‘pre-packaged
bankrupcies’ crammed down the throats of objecting creditors – jersey general ]
He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve
Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people
and companies, and I've won many wars," he added. (Though he didn't serve
in the military.) "I have fairly [according to mobster rules; ie.,
bribery, money laundering, etc.] but intelligently [ as any other mob boss …
trump is total b*** s***, a fraud, and lightweight … and, despite the façade,
quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of
american decline and part of the problem, not the solution! …trump also said
america’s become the laughingstock of the world … true enough … and trump the
biggest joke … NEWS FLASH: Direct from Lost Angeles
Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now
caleefornia mob fame with his continuing message for the past several years:
buy real estate (and watch the values go down…..riiiiight!).
Bank
sues Trump over Chicago tower loan...
Trump
casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal
Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With
Employee Killed – What else would you you expect from a mobster’s casino in
mob-infested jersey!
Trump luxury resort
folds, leaving buyers defrauded…litigation has commenced…send for sister
maryanne, the corrupt federal judge to preside, coverup, etc., she’s in
n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud
and handles her own motions to recuse her and like mobster trump should be in
jail ... (see RICO Case)] earned many billions of dollars
[ at whose expense ], which in a sense was both a scorecard and acknowledgment
of my abilities [ to fool most of the people, all of the time. ] ." TRUMP
DRAWS CHEERS, BOOS AT CONSERVATIVE CONFERENCE... PONDERING
PRESIDENTIAL RUN... [Don’t make me laugh! … Donald
T_rump Would Impose 25% Tax on China Imports if President [
trump also said america’s become the laughingstock of the world … true
enough … and trump the biggest joke … Indeed, that trump even posits the
possibility of a run when he should be in jail is a testament to just how big a
laughingstock pervasively corrupt, defacto bankrupt america’s become! [ If he was mobster in chief, mobster and
scoundrel trump wraps himself in populist american flag and offers up an (too
little too late – typical lightweight) implausible solution to keep ‘the juice’
flowing though he’d already be in jail in a rational, non-declining nation with
meaningful laws. All China has to do is dump (and not prospectively buy) their
ever more and declining in value day-by-day (from dollar debasement policies)
u.s. paper / bonds and overnight and the u.s. economy consequently thereby collapse. [ When you come right down
to it, this has been america’s most significant export. Indeed, this
irrevocable structural shift, hailed by cia men hw bush and clinton (clinton
couldn’t have survived with them) by way of NAFTA as the greatest thing since sliced bread was indeed in no
uncertain terms condemned and warned against by Perot, a man of honor who,
unlike his opponents, could not be bought, which is the reason, in pervasively
corrupt america, he could never have been elected. Interestingly, you may have
noticed the good (but not great, other than the spotlight on pervasive bribery
including judges, police, politicians, etc., being far too light) the film ‘The
Untouchables’ getting a wide re-airing of late, purporting to be a significant
part of american folklore / history / culture. However, the reality is that in
america, and certainly today, the real story with impact is that of ‘The
Touchables’. The reality is that Elliot Ness died a broken man; bankrupt,
unable to even win election to the mayoralty of his then current hometown. He
was incorruptible; and hence, in the real america, unelectable at the least if
not also all but unemployable (he and his are among those few genetic anomalies
in america as I’ve previously alluded to. How far america has fallen from even
false perception! Pervasively corrupt, meaningfully lawless america can’t even
fake it anymore. See, for example, http://albertpeia.com/CIAAgentAffidavit1.jpg http://albertpeia.com/FBIAgentAffidavit11.jpg , and of course, corrupt
legal / judicial processes, etc., Defacto bankrupt, fraudulent america also spends more on
offensive (defensive a misnomer / propaganda) military spending than all the
nations of the world combined, and by a large margin at that. Do you see a
pattern emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
… The pervasively corrupt
american illegal system … corrupt u.s. courts / (lawyers) / judges: Their
lifetime plush appointments should be abolished, which corrupt entities are
unheard of in productive societies as China, Japan, etc.. Time to abolish these
drags on society and eliminate their lifetime stipends and costly
bureaucracies. Rules of law mean nothing to these typically corrupt americans.
Most, including sam alito of the u.s. supreme court, concerning drug
money laundering and obstruction of justice in the 3rd circuit (
also maryanne trump barry who covered-up drug money laundering through her
brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it
for the money, personal money, big, cash, untraceable money. The fog of war is
great for such things (360 tons $100 bills flown into Iraq and missing, etc.). [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt
nation. ] “I would announce, without
equivocation, a 25% tax increase on anything purchased from China.” ]
Drudgereport: USA
FREAK OUT: TERROR FEARS; FALSE ALARMS...
Sen.
Schumer Calls For Amtrak 'Do Not Ride' List...
Two
tunnel 'breaches' cause scare in NYC...
Threats
Divert Planes in Three Separate Incidents...
Passengers,
flight crew subdue man banging on cockpit door...
Dallas
Train Station Evacuated: Man Asked For Help Carrying Packages...
4
Arrested For Videotaping TSA Line At Denver...
SHOCK PHOTO: TSA LOOKING FOR
'POOP BOMBS?'
U.S.-Pak.
Rift Widens...
Pak.
warns of 'full force' response to future US raids...
S&P
cuts Greece's rating...
BOEHNER
TO DEMAND NOT BILLIONS, BUT TRILLIONS
IN CUTS...
OIL
REBOUNDS; 2ND LARGEST GAIN ON RECORD...
REPORT:
Housing crash getting worse...
...values
fall fastest rate since '08
Michelle
Obama to host rapper at WH who talks of killing cops...
'COMMAND
CENTER'...
Pakistan
skeptical of U.S. claim bin Laden directed network...
Two loud explosions heard in town where bin Laden killed...
Videos
show 9-11 mastermind watching himself on TV...
U.S.
government censors tapes, cuts audio...
Inside
bin Laden's squalid home...
NYT:
Final days of domesticity...
Drone
Strike Kills 15 in Pakistan...
First
since bin Laden raid...
BIN LADEN
SUPPORTERS RAGE ON THE STREETS OF LONDON, VOW REVENGE...
Stage
mock funeral in front of US embassy...
Gas
nat'l average: $3.99...
Eats
9% of household budgets...
Average
price sets record in Indiana -- $4.25 a gallon...
$6.03
in Hawaii...
JAPAN
URGES HALT AT THREE REACTORS...
UNEMPLOYMENT
BACK UP TO 9.0%...
Fannie
Mae Reports $8.7B Loss for First Quarter...
Seeks
$8.5B more from taxpayers...
APRIL JOBS:
+244,000...
FUZZY
MATH: How can US add
jobs but the unemployment rate go up?
Gas
nat'l average: $3.99...
Eats
9% of household budgets...
Average
price sets record in Indiana -- $4.25 a gallon...
$6.03
in Hawaii...
Silver
Plunge Spreads...
OIL
GUTTED...
Price
Slide Temporary, New Highs Likely: Goldman...
Fears
linger of a new 'flash crash'...
Euro
Tumbles...
CNN
SHOCK POLL: RON PAUL HAS BEST CHANCE VS OBAMA
National
Home Prices Double Dip...
JOBLESS
CLAIMS RISE TO 8 MONTH HIGH...
Fears
linger of a new 'flash crash'...
9-11
FAMILY: 'SHOW US PROOF BIN LADEN KILLED'...
Victim's
father: Obama 'putting too much spotlight on himself'...
Channels
Bush at Ground Zero: 'We will never forget'...
Tells
teen survivor he knows
Justin Bieber...
Turns
Back on 9/11 Family Member...
AUDIO...
Muslim
Brotherhood urges review of Israel ties...
Pakistanis
burn U.S. flags; backlash over death grows...
Pakistan
officials: No resistance in 'cold-blooded' U.S. raid...
Warns
America not to stage any more...
Threatens
'disastrous consequences'...
Muslims
already name dump location 'Martyr's Sea'...
OBAMA,
NO PHOTOS OF OSAMA: 'We don't need to spike the football'...
'Conspiracy theorists will just claim doctored'...
Sen.
Scott Brown: 'I've seen picture, he's definitely dead'...
UPDATE:
Photo proving bin Laden's death to Sen. Brown was
faked...
three
senators fell for fakes...
UPDATE:
'The photo I saw and that a lot of other people saw is not authentic'...
Top
Dem: No photo needed, 'there's absolute proof'...
REUTERS RELEASES 'DEATH SCENE' PHOTOS
**WARNING GRAPHIC**
UPDATE: Photo proving bin Laden's death to Sen. Brown was faked...
Possibly
three senators fell for fakes...
Pakistan:
'Not a single bullet fired from compound'...
WIRE:
Photos from 1 hour after raid show 3 dead, no weapons...
The
Slippery Story of the bin Laden Kill...
Official says 'killed apparently
by the U.S. raid team'...
DOLLAR
HITS 3 YEAR LOW...
1
IN 7 ON FOOD STAMPS!
Job
numbers disappoint...
Treasury
suggests $2 trillion debt cap raise...
U.S.
economy adds 244,000 jobs But the
unemployment rate edged up last month, showing that the outlook for workers
remains grim (Washington Post) [244,000
jobs added in April Associated Press In biggest hiring spree in five years,
employers posted a third straight month of hiring; unemployment rose to 9
percent as people resumed looking for work. Interactive:
Why it doesn’t feel like a recovery (Washington Post) [ Short answer: Because it’s really not a
recovery! What jobs? $1 dollar a day, 3 days a year … and on government pork
projects for the porkers’ reelection campaigns? I don’t think so! Obama’s
victory lap (Washington Post) The
killing of bin Laden offered hope of instant renewal. [ Only wobama aficionado
Mr. Milbank could latch onto this propagandist Orwellian dream and call it
victory. Sounds like he’s shootin’ for a job in this failed
presidency/administration as others, including from the Post.. 10
Reasons 2011 Is Feeling More and More Like 2008 Jensen ‘..it eerily feels
like the months before the financial crisis and meltdown of 2008. .. impending
and significant pullback over the summer.
10 reasons 2011 ..like
2008.
Pledge
not squaring with reality Obama’s
vow to boost middle-class economic security at odds with corporate profits,
unemployment. (Washington Post) [CEOs’
pay: It’s as if the Great Recession never happened (Washington Post) The typical big-business CEO made $9 million
last year, exceeding pre-recession level. [ And ‘worth every penny’? Not likely
in pervasively corrupt, defacto bankrupt america, leaders no more except in
fraud, crime, manipulation, subterfuge. Imagine the comparisons to their
foreign counterparts where value still has meaning. As if ‘never happened? How
‘bout not over, and worse to come! UBS
bank admits rigging bids (WP) Swiss
bank reaped millions of dollars of illegal profits by rigging municipal bond
transactions in 36 states, government said. [ The key here is ‘Swiss’ and
‘millions of dollars of illegal profits’ when the american banks / wall street
frauds’ generated hundreds of billions in illegal profits, which frauds
continue to this day by way of slightly subdued high-frequency trading /
commission-generated scams along with cover-up and cash-out from the last,
still unprosecuted fraud in the trillions for which disgorgement, fines is long
overdue. 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009
Study:
Affordable rentals scarce (WP)
Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in Afghanistan
than support it
Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
]
]
Al-Qaeda
vows retaliation on U.S. Online
posting attributed to group also confirms the death of Osama bin Laden. (Washington Post) [ Paul
Craig Roberts: What Is The Agenda Behind The Bin Laden Fable?
My
mother is still gone The daughter of
a 9/11 victim reflects on bin Laden’s death. (Washington Post) Parker:
Bin Laden death was anti-climactic [ Paul
Craig Roberts: What Is The Agenda Behind The Bin Laden Fable? The US
government’s bin Laden story was so poorly crafted that it did not last 48
hours before being fundamentally altered. What agenda or agendas is the “death
of bin Laden” designed to further? US Government Contractor Claims “Al-Qaeda” Has Confirmed
Bin Laden Fairytale Paul Joseph Watson | SITE organization was behind release of fake
“Al-Qaeda” tapes released at politically opportune times stretching back
years Red Alert: Help Stop False Flag Terror Infowars.com | Alex warns about the potential for another false
flag attack, urging listeners to call the White House. Terrorist Hunter: General Under Wolfowitz Told Me 9/11
Was False Flag Infowars.com | Government insider Dr. Steve R. Pieczenik cannot be dismissed as a
“conspiracy theorist.” Pieczenik: The Psychological Resurrection of Osama Bin
Laden Infowars.com |
Critically acclaimed author of psycho-political thrillers, Steve Pieczenik
continues his analysis of the so-called death of Osama bin Laden. The
Cost of Bin Laden: $3 Trillion Over 15 Years What do we have to show for
that tab? Two wars that continue to occupy 150,000 troops and tie up a quarter
of our defense budget; a bloated homeland-security apparatus that has at times
pushed the bounds of civil liberty.
Sell
in May: Still Valid? Roche ‘Here is
an interesting expansion on the idea of Sell in May. Fidelity Investments elaborates by
combining several time cycle indicators into one. The result – still Sell in
May:
On the negative side, it
is coming to that point in the cycle where, seasonally, the market tends to
take a pause, also known as Sell in May and Go Away.
Since, historically
markets have tended to follow cyclical patterns such as this, I compiled the
seasonal pattern, the four-year presidential cycle, and the 10-year decennial
cycle into a composite performance index and projected the pattern. So far, the
stock market has followed this roadmap very closely, so over the next two
years. As you can see in the chart below, the market has closely tracked these
historical cyclical patterns Since December 2009. Because of this, I think it
bears watching. (Past performance is no guarantee of future results.)
click to enlarge
http://static.seekingalpha.com/uploads/2011/5/6/saupload_time_cycles1105_thumb1.jpg
Clear
Capital: The Housing Double Dip Is Now Official Today
Meredith
Whitney Sticks to Her Guns Today Roche ‘Talk about holding onto a losing
trade. At the Milken Conference yesterday, Meredith Whitney said there was
nothing controversial about her muni call, maintaining that she has more conviction
about the muni crisis call than anything in her entire career. Via Bloomberg:
Whitney said on the
panel, “It’s not that big of a call..There’s nothing controversial about that
call, if you look at the numbers.”
“You can criticize me
for everything you want, I’m just numb to it because I have more conviction on
this than I’d had on any single thing in my career.”
On the same panel, David
Solomon, Goldman Sachs’ co-head of investment banking said, “I don’t think
we’re doomed. I think the resources available to us, and the changes that will
evolve as we come out of a very, very difficult economic period that we’ve been
stuck in over the past couple of years, will provide more flexibility than I
think Meredith believes.”
Whitney is certainly
right that the states are suffering fiscal woes; however, as we’ve seen in
Europe, there are mechanisms that can be utilized to combat these issues. While
I still maintain that there is a chance of local defaults, I think the United
States will be proactive in fending off a euro-style crisis.
And that means the US
federal government will do what it has always done. It will credit the bank
accounts of the states in order to ensure that any single municipality cannot
cause widespread economic hardship throughout the United States. This would be
nothing new. The US has always credited the bank accounts of the states that
are part of this union.
If Europe was truly
united, we would see the same thing occurring in Europe; however, because it's
not united, it instead chooses austerity due to fears of inflation. The reality
is that the ECB is not creating inflation; it's merely stopping the potentially
deflationary debacle that would ensue with sovereign defaults.
I would hope that a
truly United States of America
would be a bit more caring of its own member states.’
Don't
Be Fooled By The Jobs Report Harding
‘This was a week that confirmed that the economic recovery has stalled.
We knew from the
previous week that economic growth (GDP) slowed to just 1.8% in the March
quarter from 3.1% in the December quarter. This week it was reported that
the ISM Non-Mfg Index, which tracks the service sector of the economy, plunged
to 52.8 in April from 57.3 in March (versus the consensus estimate of
economists that it would improve to 57.8).
It was a shocking report
since the ISM Non-Manufacturing Index covers just about every business sector–
everything from education, healthcare, finance, insurance and retail, to
technology services, transportation, and mining, accounting for more than 80%
of U.S. employment. At the same time it was reported that the ISM New Orders
Index also plunged substantially, from 64.1 in March to 52.7 in April, not
encouraging for service sector business activity for the next few months.
Commodity markets,
already worried about what slowing global economies would do to demand for materials
and supplies, reacted with further substantial declines. By the close on
Thursday, the price of crude oil had collapsed from its high of $114.80 a
barrel a week ago, to $99.75. The S&P GSCI Index of 24 raw materials fell
11.5% in just five days.
Fortunately, the stock
market’s reaction to the further evidence that the economic recovery is in
trouble was more muted. By the close on Thursday, the S&P 500 was down only
1.8% for the week.
And thankfully, on
Friday morning the Labor Department released its monthly jobs report, which
showed that 244,000 new jobs were created in April, 60,000 more than had been
forecast, and the stock market surged up in reaction, with the Dow up 150
points within minutes of the market’s open.
Indeed the jobs report
was good news, even though it was also reported that the unemployment rate rose
to 9.0% from its previous level of 8.8%. But did the better than expected jobs
report cancel out the even more surprising plunge in the ISM service sector
index in April, reported the previous day?
I don’t think so. Even
within the employment report the numbers show that 13.7 million people remained
unemployed in April, still almost double the number just before the last
recession began in December, 2007. Including part-time workers who have
not been able to find full-time jobs, and those who have given up looking for a
job, the “underemployed” rate rose to 15.9% in April. That seems to more
closely resemble what the ISM Index said about the economy slowing further in
April.
And here’s the thing
about the Labor Department’s monthly jobs report. As my subscribers know, I
have always called it ‘The Big One’
as far as economic reports go. That’s because it’s so difficult for economists
to forecast that it comes in with a big surprise in one direction or the other
more often than any other series of reports. And that surprise results in a one
or two day triple-digit move by the Dow in one direction or the other more
often than any other report.
But the rest of that
pattern is that the move is then most often reversed over the following two or
three days, and the market returns to whatever its focus was before the report.
In this instance, with
the 1st quarter earnings reporting season pretty much over, that is
liable to be a refocus on the slowing economic recovery that had it troubled
prior to the jobs report.
Meanwhile, the collapse
in commodity prices was another example of what happens when markets become
overbought, and investor sentiment reaches extremes of bullishness, as was the
case with commodities. The consensus opinion a week ago was that they could
only move higher. $2,000 gold, $75 silver, $150 a barrel oil seemed assured.
But when a surprise hits and investors head in a rush for the exit they
discover they can’t all get through the door at once. Since most everyone
interested in commodities was already invested there was no one willing to buy
what they wanted to sell except at much lower prices.
Perhaps a cautionary
tale for the stock market as it enters its unfavorable season with investors so
bullish and anxious to jump in on any dip?’
CEOs’
pay: It’s as if the Great Recession never happened (Washington Post) The typical big-business CEO made $9 million
last year, exceeding pre-recession level. [ And ‘worth every penny’? Not likely
in pervasively corrupt, defacto bankrupt america, leaders no more except in
fraud, crime, manipulation, subterfuge. Imagine the comparisons to their
foreign counterparts where value still has meaning. As if ‘never happened? How
‘bout not over, and worse to come! UBS
bank admits rigging bids (WP) Swiss
bank reaped millions of dollars of illegal profits by rigging municipal bond
transactions in 36 states, government said. [ The key here is ‘Swiss’ and
‘millions of dollars of illegal profits’ when the american banks / wall street
frauds’ generated hundreds of billions in illegal profits, which frauds
continue to this day by way of slightly subdued high-frequency trading /
commission-generated scams along with cover-up and cash-out from the last,
still unprosecuted fraud in the trillions for which disgorgement, fines is long
overdue. 24 Signs Of
Economic Decline In America ‘The US is in the middle of a devastating
long-term economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009
Study:
Affordable rentals scarce (WP)
Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it
Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
]
A
political minefield in Treasury plan
(Washington Post) Questions about
deficit and growth complicate Treasury’s plan to overhaul corporate taxes. [
What plan! . Let
the budget battle begin After two weeks of tumultuous meetings with
constituents, Congress returns to a lengthy fight over the nation’s solvency.
(WP) [
Or more aptly put, stated another way, the nation’s solvency is over. ..
america’s defacto bankrupt with no end in sight.. interest alone is eating
progressively into GDP beyond the subterfuge.. Gerson:
How serious are we about the deficit? (WP) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘..And here
comes the first indicator that Q2 GDP is about to be mass revised by everyone,
courtesy of Japan, and ongoing inflation pressures: the Philadelphia Fed
collapsed from a revised 43.4 (a 27 year high) to 18.5, the lowest since
November 2010… This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come!
U.S. Economy Remains on Life Support Hansen ‘
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
‘End
of Days’ message rolls into D.C.
(Washington Post) The
potentially rotten news that the world will end on May 21 arrived plastered on
a caravan of RVs. [ Gee … little premature … you know, that 2012, end of Mayan
calendar, Nostradamus thing … I previously weighed in / wrote: Why
do Americans still dislike atheists? (Washington Post) [ And not just americans … Why? First and
foremost because there is a God. Second, it is intellectually dishonest to be
an atheist. Specifically, there is absolutely no evidence to dispute the
existence of God. While one might similarly argue that there is no evidence to
suggest there is a God (which I would dispute), which for most is a fair
statement, the same would yield at best, if intellectually honest, the position
of ‘agnostic’. I can totally understand and even empathize with the view of the
agnostic. After all, at this point, there seems to be ‘no rhyme nor reason’ at
all. But, think binary, positives / negatives. Just too many negatives. Think
‘capital punishment’. No, the world’s not going to end in 2012 as some fear.
Rather, think slow burn; decades at best; then ‘poof’. In the scheme of things,
this world’s just not that important (apes, notochordates, and initially single celled
organisms). Kind of akin to what I previously wrote: (God doesn’t care that you wrestle a
girl who wants to wrestle!) Boy
wrestler forfeits match to female opponent... [ What a homo! Wow! I
feel sorry for those guys she actually beat (20 of them – her record was 20 and
13) … they’ll probably never get over it … nor should they … I have to rethink
my regard for Iowa, Iowa state wrestling now presuming such stalwart
championship teams to be the products of out-of-state imports … as for the guy
who forfeited, he could have easily and gently taken her down (you can easily
do that with a lesser opponent), got her in a double grapevine and grind her in
a certain way into the mat, and when she was in the throws of convulsive
orgasm, she’d unwittingly arch her back, thereby pressing her own shoulder
blades to the mat, thereby pinning herself, thus enabling the homo to say in a
manner of speaking that he was making heterosexual love not war with her ………
how pathetic and preposterous this was … and, let me remind the homo that God
doesn’t care that you wrestle a girl who wants to wrestle! ]
244,000
jobs added in April Associated Press In biggest hiring spree in five years,
employers posted a third straight month of hiring; unemployment rose to 9
percent as people resumed looking for work. Interactive:
Why it doesn’t feel like a recovery (Washington Post) [ Short answer: Because it’s really not a
recovery! What jobs? $1 dollar a day, 3 days a year … and on government pork
projects for the porkers’ reelection campaigns? I don’t think so! Obama’s
victory lap (Washington Post) The
killing of bin Laden offered hope of instant renewal. [ Only wobama aficionado
Mr. Milbank could latch onto this propagandist Orwellian dream and call it
victory. Sounds like he’s shootin’ for a job in this failed
presidency/administration as others, including from the Post.. 10
Reasons 2011 Is Feeling More and More Like 2008 Jensen ‘..it eerily feels
like the months before the financial crisis and meltdown of 2008. .. impending
and significant pullback over the summer.
10 reasons 2011 ..like
2008.
‘THE OBAMA
DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Drudgereport: UNEMPLOYMENT
BACK UP TO 9.0%...
Fannie
Mae Reports $8.7B Loss for First Quarter...
Seeks
$8.5B more from taxpayers...
APRIL
JOBS: +244,000...
FUZZY
MATH: How can US add
jobs but the unemployment rate go up?
Gas
nat'l average: $3.99...
Eats
9% of household budgets...
Average
price sets record in Indiana -- $4.25 a gallon...
$6.03
in Hawaii...
Silver
Plunge Spreads...
OIL
GUTTED...
Price
Slide Temporary, New Highs Likely: Goldman...
Fears
linger of a new 'flash crash'...
Euro
Tumbles...
CNN
SHOCK POLL: RON PAUL HAS BEST CHANCE VS OBAMA
National
Home Prices Double Dip...
JOBLESS
CLAIMS RISE TO 8 MONTH HIGH...
Fears
linger of a new 'flash crash'...
9-11
FAMILY: 'SHOW US PROOF BIN LADEN KILLED'...
Victim's
father: Obama 'putting too much spotlight on himself'...
Channels
Bush at Ground Zero: 'We will never forget'...
Tells
teen survivor he knows
Justin Bieber...
Turns
Back on 9/11 Family Member...
AUDIO...
Muslim
Brotherhood urges review of Israel ties...
Pakistanis
burn U.S. flags; backlash over death grows...
Pakistan
officials: No resistance in 'cold-blooded' U.S. raid...
Warns
America not to stage any more...
Threatens
'disastrous consequences'...
Muslims
already name dump location 'Martyr's Sea'...
OBAMA,
NO PHOTOS OF OSAMA: 'We don't need to spike the football'...
'Conspiracy theorists will just claim doctored'...
Sen.
Scott Brown: 'I've seen picture, he's definitely dead'...
UPDATE:
Photo proving bin Laden's death to Sen. Brown was
faked...
three
senators fell for fakes...
UPDATE:
'The photo I saw and that a lot of other people saw is not authentic'...
Top
Dem: No photo needed, 'there's absolute proof'...
REUTERS RELEASES 'DEATH SCENE' PHOTOS
**WARNING GRAPHIC**
UPDATE: Photo proving bin Laden's death to Sen. Brown was faked...
Possibly
three senators fell for fakes...
Pakistan:
'Not a single bullet fired from compound'...
WIRE:
Photos from 1 hour after raid show 3 dead, no weapons...
The
Slippery Story of the bin Laden Kill...
Official says 'killed apparently
by the U.S. raid team'...
DOLLAR
HITS 3 YEAR LOW...
1
IN 7 ON FOOD STAMPS!
Job
numbers disappoint...
Treasury
suggests $2 trillion debt cap raise...
CEOs’
pay: It’s as if the Great Recession never happened (Washington Post) The typical big-business CEO made $9 million
last year, exceeding pre-recession level. [ And ‘worth every penny’? Not likely
in pervasively corrupt, defacto bankrupt america, leaders no more except in
fraud, crime, manipulation, subterfuge. Imagine the comparisons to their
foreign counterparts where value still has meaning. As if ‘never happened? How
‘bout not over, and worse to come! UBS
bank admits rigging bids (WP) Swiss
bank reaped millions of dollars of illegal profits by rigging municipal bond
transactions in 36 states, government said. [ The key here is ‘Swiss’ and
‘millions of dollars of illegal profits’ when the american banks / wall street
frauds’ generated hundreds of billions in illegal profits, which frauds
continue to this day by way of slightly subdued high-frequency trading /
commission-generated scams along with cover-up and cash-out from the last,
still unprosecuted fraud in the trillions for which disgorgement, fines is long
overdue. 24 Signs Of Economic
Decline In America ‘The US is in the middle of a devastating long-term
economic decline..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009
Study:
Affordable rentals scarce (WP)
Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it
Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
]
A
political minefield in Treasury plan
(Washington Post) Questions
about deficit and growth complicate Treasury’s plan to overhaul corporate
taxes. [ What plan! . Let
the budget battle begin After two weeks of tumultuous meetings with
constituents, Congress returns to a lengthy fight over the nation’s solvency.
(WP) [
Or more aptly put, stated another way, the nation’s solvency is over. ..
america’s defacto bankrupt with no end in sight.. interest alone is eating
progressively into GDP beyond the subterfuge.. Gerson:
How serious are we about the deficit? (WP) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘..And here
comes the first indicator that Q2 GDP is about to be mass revised by everyone,
courtesy of Japan, and ongoing inflation pressures: the Philadelphia Fed
collapsed from a revised 43.4 (a 27 year high) to 18.5, the lowest since
November 2010… This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come!
U.S. Economy Remains on Life Support Hansen ‘
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
‘End
of Days’ message rolls into D.C.
(Washington Post) The
potentially rotten news that the world will end on May 21 arrived plastered on
a caravan of RVs. [ Gee … little premature … you know, that 2012, end of Mayan
calendar, Nostradamus thing … I previously weighed in / wrote: Why
do Americans still dislike atheists? (Washington Post) [ And not just americans … Why? First and
foremost because there is a God. Second, it is intellectually dishonest to be
an atheist. Specifically, there is absolutely no evidence to dispute the
existence of God. While one might similarly argue that there is no evidence to
suggest there is a God (which I would dispute), which for most is a fair
statement, the same would yield at best, if intellectually honest, the position
of ‘agnostic’. I can totally understand and even empathize with the view of the
agnostic. After all, at this point, there seems to be ‘no rhyme nor reason’ at
all. But, think binary, positives / negatives. Just too many negatives. Think
‘capital punishment’. No, the world’s not going to end in 2012 as some fear.
Rather, think slow burn; decades at best; then ‘poof’. In the scheme of things,
this world’s just not that important (apes, notochordates, and initially single celled
organisms). Kind of akin to what I previously wrote: (God doesn’t care that you
wrestle a girl who wants to wrestle!) Boy wrestler forfeits match
to female opponent... [ What a homo! Wow! I feel sorry for those
guys she actually beat (20 of them – her record was 20 and 13) … they’ll probably
never get over it … nor should they … I have to rethink my regard for Iowa,
Iowa state wrestling now presuming such stalwart championship teams to be the
products of out-of-state imports … as for the guy who forfeited, he could have
easily and gently taken her down (you can easily do that with a lesser
opponent), got her in a double grapevine and grind her in a certain way into
the mat, and when she was in the throws of convulsive orgasm, she’d unwittingly
arch her back, thereby pressing her own shoulder blades to the mat, thereby
pinning herself, thus enabling the homo to say in a manner of speaking that he
was making heterosexual love not war with her ……… how pathetic and preposterous
this was … and, let me remind the homo that God doesn’t care that you wrestle a
girl who wants to wrestle! ]
Nimmo / Jones | Videos [ I personally believe Osama’s been dead
for quite some time. Indeed, for one on dialysis, he otherwise would have been
nothing less than a modern day miracle in terms of longevity / mortality rates
for those so afflicted, particularly under the ‘stressful’ circumstances
involving evading capture, betrayal for money, etc.. His ‘surfacing’ for a
‘talk’ wouldn’t even pass muster in the most rudimentary requirements for
‘proof of life’. The release at this time of the ‘announcement’ is, rather than
a victory lap so to speak, but rather a sign of weakness and desperation on the
part of america whose global and domestic economic, financial, and geopolitical
position is substantially diminished and declining rapidly and whose military
industrial complex welfare plan along with the Orwellian diversion of the
masses could at most yield a pyrrhic victory which also would require for
consummation a wrap-up of this nation-bankrupting contrived war scenario, which
is not likely. Moreover, the same comes at a
time of systemic failure for pervasively corrupt, defacto bankrupt
america While the ‘announcement’ plays well for the nonce, to the dumb,
uninformed back home, the same will
galvanize resistance in the name of their now martyr, Osama Bin Laden.
In sum, other than somewhat questionable propaganda value, the announcement
will have no measurable effect on america’s continuing mideast / global
debacle. In other words, defacto bankrupt america has used up a ‘bullet’,
albeit a blank at that! ]
Weekly
Unemployment Claims Going in the Wrong Direction Short May 5, 2011 ‘The Department of Labor’s Unemployment Insurance Weekly Claims Report was released
this morning for last week. Claims rose 43,000 from an upward revision of the
previous week to 431,000. That is a 10% increase for the week and a 4-week
moving average increase of 5.4%. Here is the official statement from the
Department of Labor:
In the week ending April
30, the advance figure for seasonally adjusted initial claims was 474,000, an
increase of 43,000 from the previous week’s revised figure of 431,000. The
4-week moving average was 431,250, an increase of 22,250 from the previous
week’s revised average of 409,000.
The advance seasonally
adjusted insured unemployment rate was 3.0 percent for the week ending April
23, an increase of 0.1 percentage point from the prior week’s unrevised rate of
2.9 percent.
The advance number for
seasonally adjusted insured unemployment during the week ending April 23 was
3,733,000, an increase of 74,000 from the preceding week’s revised level of
3,659,000. The 4-week moving average was 3,700,750, a decrease of 1,250 from
the preceding week’s revised average of 3,702,000.
Today’s number was 18.5%
higher than the Briefing.com consensus expectation of 400,000 claims.
As we can see, there’s a
good bit of volatility in this indicator, which is why the 4-week moving
average (shown in the callouts) is a more useful number than the weekly data.
[ chart
http://dshort.com/charts/indicators/weekly-unemployment-claims.gif ]
Occasionally I see
articles critical of seasonal adjustment, especially when the non-adjusted
number better suits the author’s bias. But a comparison of these two charts
clearly shows extreme volatility of the non-adjusted data, and the 4-week MA
gives an indication of the recurring pattern of seasonal change in the second
chart (note, for example, those regular January spikes).
Because of the extreme
volatility of the non-adjusted weekly data, a 52-week moving average gives a
better sense of the long-term trends.
The Bureau of Labor
Statistics provides an overview on seasonal adjustment here (scroll down about
half way down).
Doug Short Ph.d is the author
of dshort.com.’
UBS
bank admits rigging bids (Washington Post)
Swiss bank reaped millions of dollars of illegal profits by rigging
municipal bond transactions in 36 states, government said. [ The key here is
‘Swiss’ and ‘millions of dollars of illegal profits’ when the american banks /
wall street frauds’ generated hundreds of billions in illegal profits, which
frauds continue to this day by way of slightly subdued high-frequency trading /
commission-generated scams along with cover-up and cash-out from the last,
still unprosecuted fraud in the trillions for which disgorgement, fines is long
overdue. 24 Signs Of
Economic Decline In America ‘The United States is in the middle of a
devastating long-term economic decline and it is getting really hard to deny
it. ..’ ] States
face shortfall for retirees (WP)
Public workers’ retirement funds had a gap of $1.26 trillion at the end
of fiscal 2009, a report says.
Study:
Affordable rentals scarce (WP)
Poll:
For Obama, low marks on Afghan war (WP)
More Americans disapprove of President Obama’s management of the war in
Afghanistan than support it, according to a new Washington Post-ABC News poll,
a finding that reflects the public’s broader concern over the course of the
nearly decade-old conflict.
Fuel
prices cut into Obama popularity
(WP) (The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed), and have used the mideast
turmoil to obfuscate their failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Return of Inflation: 5 Worrying Signs From Friday's NY Times ]
Is
this a Republican distress call? (Washington Post) The first presidential
primary debate will be distinguished more by who isn’t there than who is. [
What do debates matter in pervasively corrupt, defacto bankrupt america? Take
‘wobama the b’ for b***s***. What did what he said in debates actually matter
in reality. Wobama, the failed president as was his predecessor, is a complete
and total fraud. Let
the budget battle begin After two weeks of tumultuous meetings with
constituents, Congress returns to a lengthy fight over the nation’s solvency.
(WP) [
Or more aptly put, stated another way, the nation’s solvency is over. ..
america’s defacto bankrupt with no end in sight.. interest alone is eating
progressively into GDP beyond the subterfuge.. Gerson:
How serious are we about the deficit? (WP) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘..And here
comes the first indicator that Q2 GDP is about to be mass revised by everyone,
courtesy of Japan, and ongoing inflation pressures: the Philadelphia Fed
collapsed from a revised 43.4 (a 27 year high) to 18.5, the lowest since
November 2010… This is an
especially great opportunity to sell / take profits while you still can since
there's much worse to come!
U.S. Economy Remains on Life Support Hansen ‘
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
‘THE OBAMA DECEPTION’ http://albertpeia.com/obamadeceptionhighqualityversion.flv ]
Kurt Nimmo and Alex
Jones | Obama makes a
suspiciously timed speech, claims Osama killed in Pakistan. Videos [ As set
forth infra, I personally believe Osama’s been dead for quite some time.
Indeed, for one on dialysis, he otherwise would have been nothing less than a
modern day miracle in terms of longevity / mortality rates for those so
afflicted, particularly under the ‘stressful’ circumstances involving evading
capture, betrayal for money, etc.. His ‘surfacing’ for a ‘talk’ wouldn’t even
pass muster in the most rudimentary requirements for ‘proof of life’. The
release at this time of the ‘announcement’ is, rather than a victory lap so to
speak, but rather a sign of weakness and desperation on the part of america
whose global and domestic economic, financial, and geopolitical position is
substantially diminished and declining rapidly and whose military industrial
complex welfare plan along with the Orwellian diversion of the masses could at
most yield a pyrrhic victory which also would require for consummation a
wrap-up of this nation-bankrupting contrived war scenario, which is not likely.
Moreover, the same comes at a time of
systemic failure for pervasively corrupt, defacto bankrupt america While the
‘announcement’ plays well for the nonce, to the dumb, uninformed back home, the
same will galvanize resistance in the
name of their now martyr, Osama Bin Laden. In sum, other than somewhat
questionable propaganda value, the announcement will have no measurable effect
on america’s continuing mideast / global debacle. In other words, defacto
bankrupt america has used up a ‘bullet’, albeit a blank at that! ]
In February, 2004, Iranian state radio claimed Osama bin Laden had been
captured in Pakistan’s border region with Afghanistan “a long time ago.”
Pentagon and Pakistani officials denied the report. “Osama bin Laden has been
arrested a long time ago, but Bush is intending to use it for propaganda
maneuvering in the presidential election,” the radio report said…’ Obama’s
victory lap (Washington Post) The
killing of bin Laden offered hope of instant renewal. [ Only wobama aficionado
Mr. Milbank could latch onto this propagandist Orwellian dream and call it
victory. Sounds like he’s shootin’ for a job in this failed
presidency/administration as others, including from the Post, have done and
made. 10
Reasons 2011 Is Feeling More and More Like 2008 Jensen ]
White
House goes quiet on bin Laden raid
(WashPost) As further questions about the original story surfaced, officials
said they will neither release photos of a bloodied terrorist leader nor
provide new details about the raid on his compound in Pakistan. [ OBL
miraculously cured himself of kidney
failure/ no shots fired/Was Bin Laden Assault A Jessica Lynch-Style Fable? Watson | Myriad of inconsistencies in
alleged raid begin to resemble war propaganda fairytales told about Private
Lynch and Pat Tillman Police State Expands On Bin Laden Death Hype Nimmo ‘World
is safer,’ president says Osama exposed his cowardice. (WP) [ This former cia-supported ally may be
legitimately described as many things; but coward is not one of them.
Principled in giving up riches, comfort, he said americans are thieves; that is absolutely true, and I would
add frauds, criminals, war criminals. Bullies / cowards;ie., wobama, bush,
clinton, cheney, bush, et als Psychology forum Re: Bystander
Effect ‘ I believe the foregoing psycho-babble to be
Rubbish/Hogwash/b.s.
While walking through Military Park (“park”/pedestrian thoroughfare/cement
walks) in newark, n.j., I heard the clearly audible screams/cries of what
turned out to be an old lady on the ground with blood streaming from her mouth.
I ran toward the sound of the cries, the source of which I could not see
because there were so many people... When I came to the woman, on the ground,
blood streaming from her mouth, I asked what happened, to which she responded
she had been hit in the mouth and knocked to the ground, her purse stolen/put
inside her shopping bag, and she pointed out the criminal casually now walking
across the main street. Nobody stopped to help her, many having passed her by.
I slammed the thug to the ground so hard that, in light of all the blood and
confusion, I thought I had been stabbed (the blood was from his elbows hitting
the pavement so hard - no one helped/a crowd gathered/an undercover cop
happened along). I testified at the Grand Jury Proceeding (he went to prison –
pled out). (The other case I wrote about here - Having had occasion to have run down a mugger in newark, n.j. who apparent
had followed a girl from the bank on her way to the bursar to pay tuition,
though in pretty good shape, I was astounded by how totally exhausting such a
pursuit was, ..The girl was not that seriously injured, did get her pocketbook
and tuition back, and the criminal went to jail. The other thing about
such a pursuit that amazed me was that no one else assisted the girl or me
despite being in a position to do so).
CONCLUSION
The reality is that quite simply, the vast and overwhelming majority of
americans are without any courage whatsoever. They are cowards, plain and
simple. All the excuses, psycho-babble, in the world will not change that fact!
]
Drudgereport: CNN
SHOCK POLL: RON PAUL HAS BEST CHANCE VS OBAMA
National
Home Prices Double Dip...
JOBLESS
CLAIMS RISE TO 8 MONTH HIGH...
Fears
linger of a new 'flash crash'...
9-11
FAMILY: 'SHOW US PROOF BIN LADEN KILLED'...
Victim's
father: Obama 'putting too much spotlight on himself'...
Channels
Bush at Ground Zero: 'We will never forget'...
Tells
teen survivor he knows
Justin Bieber...
Turns
Back on 9/11 Family Member...
AUDIO...
Muslim
Brotherhood urges review of Israel ties...
Pakistanis
burn U.S. flags; backlash over death grows...
Pakistan
officials: No resistance in 'cold-blooded' U.S. raid...
Warns
America not to stage any more...
Threatens
'disastrous consequences'...
Muslims
already name dump location 'Martyr's Sea'...
OBAMA,
NO PHOTOS OF OSAMA: 'We don't need to spike the football'...
'Conspiracy theorists will just claim doctored'...
Sen.
Scott Brown: 'I've seen picture, he's definitely dead'...
UPDATE:
Photo proving bin Laden's death to Sen. Brown was
faked...
three
senators fell for fakes...
UPDATE:
'The photo I saw and that a lot of other people saw is not authentic'...
Top
Dem: No photo needed, 'there's absolute proof'...
REUTERS RELEASES 'DEATH SCENE' PHOTOS
**WARNING GRAPHIC**
UPDATE: Photo proving bin Laden's death to Sen. Brown was faked...
Possibly
three senators fell for fakes...
Pakistan:
'Not a single bullet fired from compound'...
WIRE:
Photos from 1 hour after raid show 3 dead, no weapons...
The
Slippery Story of the bin Laden Kill...
Official says 'killed apparently
by the U.S. raid team'...
DOLLAR
HITS 3 YEAR LOW...
1
IN 7 ON FOOD STAMPS!
Job
numbers disappoint...
Treasury
suggests $2 trillion debt cap raise...
Are
We Headed for a Major Correction?
The Housing Time Bomb ‘I wanted to take a few minutes and share a chart
with you. As you all know I am not much of a T/A guy. However, over the longer
term, I do watch them from time to time.
I often watch the
Russell 2000 when I am looking for a trend change because it's usually the
first sector that rolls over during bear markets.
After taking a peak at the monthly of the Russell, I couldn't help but take
notice of an almost perfect double top:
http://static.seekingalpha.com/uploads/2011/5/4/saupload_2011_05_03_tos_charts.png
My Take:
The Russell is much more
sensitive than the rest of the market because it is comprised of smaller
companies with matching smaller balance sheets. Therefore, they are much more
susceptible to a weakening economy versus a huge company like Apple (AAPL) that
sits on tens of billion in cash.
As a result, when things
start to head south as a result of things like $4 gas, the market tends to sell
these names first. The fact that it couldn't hold the trendline after breaking
through the 2007 highs is something to take note of.
The Bottom Line:
So are we due for a
major correction? Hard to tell. The Fed seems obsessed with taking the market
higher, and it has decided to destroy our currency in order to due so in the
process.
The reality here is no
one wins this game if the dollar loses because stocks are priced in dollars,
and if the currency cracks it's not going to matter where the market is.
The market, in my
opinion, seems to be struggling with a colossal battle between the powerful
forces of debt deflation and deleveraging, versus the equally powerful forces
of inflation via currency debasing courtesy of the easy money Fed.
This battle has become a
personal struggle for myself, which is why I haven't had much to say recently.
Part of me believes that debt deflation is inevitable as the world realizes the
trillions of digital dollars that people moronically borrowed over the past
decade will never be paid back.
However, at the same
time, you also have extremely powerful inflationary forces that are being
created by the Fed as they continue money printing and keeping rates low at the
same time the rest of the world takes rates higher. India just raised rates by
.50 basis points yesterday.
Who will win this
battle? Hard to say. I am positioning myself for both.
What I can tell you is
what I have done with my positions recently:
I sold out of 50% of my
silver at around $45. Things got a little too bubbly for me here. I will look
for cheaper prices.
I shorted the Russell
last week via TWM. I also continue holding some small short positions in SDS and QID.
On the long side I bought the nuclear stock EXC
when it got oversold following the Japanese nuclear disaster and I also added
the titanium stock TIE.
I still hold the
majority of my money in cash which at any moment could become worthless. This
is a scary proposition to me but the way I see it the dollar should rise before
it tanks because I think Europe is going to go down before we do.
Greece will default by
the end of the year. The market has already priced it in. The rippling effects
of this in terms of the rest of the PIIGS are flat out frightening to me but
there is nothing I can do to control it.
All I can do here is
stick to the fundamentals and the most important one to remember is risk is
relative! As a result, I don't believe the dollar is toast just yet because the
bond market continues to tell us that we are the best looking horse in the glue
factory of bankrupt countries.
I write this post as a
warning that something big could be coming. Please play defense and be safe.’
Let
the budget battle begin After two weeks of tumultuous meetings with
constituents, Congress returns to a lengthy fight over the nation’s solvency.
(Washington Post) [ Or more aptly put, stated another way, the
nation’s solvency is over. Now that would be cutting to the chase. After all,
it’s a little late for ‘budget bustin’ heroics’. Quite simply, america’s
defacto bankrupt with no end in sight, such being the insurmountable nature of
same where interest alone is eating progressively into GDP beyond the
subterfuge, smoke and mirrors, diversions. Gerson:
How serious are we about the deficit? (Washington Post) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘On Thursday April 21,
2011, 1:32 pm EDT And here comes the first indicator that Q2 GDP is
about to be mass revised by everyone, courtesy of Japan, and ongoing inflation
pressures: the Philadelphia Fed collapsed from a revised 43.4 (a 27 year high)
to 18.5, the lowest since November 2010… This is an especially great opportunity to sell / take profits
while you still can since there's much worse to come! U.S. Economy Remains on Life Support Hansen ‘This
has been a whirlwind week for intangible monetary policy news which was lead
by:
My foggy long range
economic view is of a moderately improving economy which is fighting growing
fiscal headwinds. My takeaway from from the press conference and FOMC meeting
was a fairly strong opinion by Chairman Bernanke that the economy was gaining
enough traction to stand on its own without further accommodation.
A deeper look at advance
1Q2011 GDP real growth of 1.8% should quickly dispel this.
The economy is still in
recession if the economic effects of the automatic
stabilizers are taken into consideration. Automatic stabilizers are
automatic changes in the government’s revenues and outlays that are
attributable to cyclical movements in real output.
http://static.seekingalpha.com/uploads/2011/5/1/saupload_z_weekly13.png
…
]
U.S.
debt Running in the red: How the U.S., on the road to surplus, detoured to
massive debt (Washington Post) [ Detour,
towar’, war … thieving, raping, pillaging and plundering … Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Philadelphia
Fed Depresses Economists Durden ‘And here comes the first indicator that Q2
GDP is about to be mass revised by everyone, courtesy of Japan, and ongoing
inflation pressures: the Philadelphia Fed collapsed from a revised 43.4 (a 27
year high) to 18.5, the lowest since November 2010… This is an especially great opportunity to sell / take
profits while you still can since there's much worse to come!
WallStCheatSheet:
Obama’s
victory lap (Washington Post) The
killing of bin Laden offered hope of instant renewal. [ Only wobama aficionado
Mr. Milbank could latch onto this propagandist Orwellian dream and call it
victory. Sounds like he’s shootin’ for a job in this failed
presidency/administration as others, including from the Post, have done and
made. 10
Reasons 2011 Is Feeling More and More Like 2008 Jensen ‘The market ended
April as it began, grinding up on low volume, ignoring increasingly worsening
energy prices, continued turmoil in the Middle East and slowing worldwide
economic growth. To me it feels like we are in the calm before the storm. More
specifically, it eerily feels like the months before the financial crisis and
meltdown of 2008. The similarities are striking to me and think the market is
ignoring the signs of an impending and significant pullback over the summer.
Here are ten reasons
2011 is starting to feel so much like 2008.
SPX
Pullback History: 2009-2011
[chart http://static.seekingalpha.com/uploads/2011/5/3/saupload_spxpullbacks09_11050311.png ]
CHART
OF THE DAY: Watch the US Debt Set a 60 Year Record
‘World
is safer,’ president says Osama bin Laden is portrayed as a reclusive
figure whose final moments exposed his cowardice. (Washington Post) [ This former cia-supported ally may be
legitimately described as many things; but coward is not one of them.
Principled in giving up riches, comfort, he said americans are thieves; that is absolutely true, and I would
add frauds, criminals, war criminals. Bullies / cowards;ie., wobama, bush,
clinton, cheney, bush, et als … - I wrote: Psychology
forum Re: Bystander Effect ‘… I believe the
foregoing psycho-babble to be absolute, unequivocal
Rubbish/Hogwash/b.s.
The foregoing web site is, from direct experience, lacking credibility. Indeed,
while walking through Military Park (a sliver of a “park” - more a pedestrian
thoroughfare/cement walks) in newark, new jersey on the way to the bank during
lunch hour, I heard the clearly audible screams/cries of what turned out to be
an old lady on the ground with blood streaming from her mouth. I ran toward the
sound of the cries, the source of which I could not see because there were so many
people in and about this thoroughfare so as to block any vision of the source
of the cries. When I came to the woman, on the ground, blood streaming from her
mouth, I asked what happened, to which she responded she had been hit in the
mouth and knocked to the ground, her purse stolen/put inside her shopping bag,
and she pointed out the criminal casually now walking across the main street.
Nobody stopped to help her, many having passed her by. I slammed the thug to
the ground so hard that, in light of all the blood and confusion (limbic system
/ adrenalin flow) I thought I had been stabbed (the blood was from his elbows
hitting the pavement so hard - no one helped/a crowd gathered/an undercover cop
happened along). When I testified at the Grand Jury Proceeding I made sure his
threat on my life was set forth in prima facie fashion so as to maximize
the DA’s position with both felonies (he went to prison – pled out). (The other
case I wrote about here - Having had occasion to have
run down a mugger in newark, n.j. who apparent had followed a girl from the
bank on her way to the bursar to pay tuition, though in pretty good shape, I
was astounded by how totally exhausting such a pursuit was, how much like
rubber my arms were when I traded punches with the perpetrator, and truth be
told, if I had a flashlight on my belt, I have little doubt that I would have
probably used it to subdue the perp. The girl was not that seriously injured,
did get her pocketbook and tuition back, and the criminal went to jail. The
other thing about such a pursuit that amazed me was that no one else assisted
the girl or me despite being in a position to do so).
CONCLUSION
The reality, though difficult for many, including psychologists to accept is
that quite simply, the vast and overwhelming majority of americans are without
any courage whatsoever. They are cowards, plain and simple. All the excuses,
rationalizations, etc., psycho-babble if you will, in the world will not change
that fact. I could cite numerous instances involving white collar/RICO crimes
involving such cowardice as well. I understand statistics, the term ad hoc,
sampling, etc.. The conclusion stands!.
Kurt Nimmo and Alex
Jones | Obama makes a
suspiciously timed speech, claims Osama killed in Pakistan. Videos [ As set
forth infra, I personally believe Osama’s been dead for quite some time.
Indeed, for one on dialysis, he otherwise would have been nothing less than a
modern day miracle in terms of longevity / mortality rates for those so
afflicted, particularly under the ‘stressful’ circumstances involving evading
capture, betrayal for money, etc.. His ‘surfacing’ for a ‘talk’ wouldn’t even
pass muster in the most rudimentary requirements for ‘proof of life’. The
release at this time of the ‘announcement’ is, rather than a victory lap so to
speak, but rather a sign of weakness and desperation on the part of america
whose global and domestic economic, financial, and geopolitical position is
substantially diminished and declining rapidly and whose military industrial
complex welfare plan along with the Orwellian diversion of the masses could at
most yield a pyrrhic victory which also would require for consummation a
wrap-up of this nation-bankrupting contrived war scenario, which is not likely.
Moreover, the same comes at a time of
systemic failure for pervasively corrupt, defacto bankrupt america While the
‘announcement’ plays well for the nonce, to the dumb, uninformed back home, the
same will galvanize resistance in the
name of their now martyr, Osama Bin Laden. In sum, other than somewhat
questionable propaganda value, the announcement will have no measurable effect
on america’s continuing mideast / global debacle. In other words, defacto
bankrupt america has used up a ‘bullet’, albeit a blank at that! ]
In February, 2004, Iranian state radio claimed Osama bin Laden had been
captured in Pakistan’s border region with Afghanistan “a long time ago.”
Pentagon and Pakistani officials denied the report. “Osama bin Laden has been
arrested a long time ago, but Bush is intending to use it for propaganda
maneuvering in the presidential election,” the radio report said…’ ]
Recovery
efforts may be bad for dollar (Washington Post) U.S. efforts to speed the
economic recovery could transform the currency’s slow decline into a
precipitous fall. [ Oh, riiiiight! That ‘method’ to their madness. I’d like to
know at this point in the continuing debacle just what possibly could be
realistically good for the dollar. SPX
Pullback History: 2009-2011
chart http://static.seekingalpha.com/uploads/2011/5/3/saupload_spxpullbacks09_11050311.png
As
Food Stamp Recipients Hit New Record, 400 Americans Account For 10% Of Capital
Gains Today SNAP released the most recent food stamp numbers. Not
surprisingly, we just saw another all time high 44.2 million poverty-level
Americans relying on government funding for day to day sustenance. ]
Deal
on controlling debt stalls (Washington Post) A bipartisan effort to rein in
the national debt stalls, as members of the Senate’s so-called Gang of Six
signal that an agreement is unlikely to come in time for the start of White
House-led budget talks. [ Who woulda’ thunk it? Riiiiight! Stalling in washington
… I’ve experienced it myself. Let
the budget battle begin After two weeks of tumultuous meetings with
constituents, Congress returns to a lengthy fight over the nation’s solvency.
(Washington Post) [ Or more aptly put, stated another way, the
nation’s solvency is over. Now that would be cutting to the chase. After
all, it’s a little late for ‘budget
bustin’ heroics’. Quite simply, america’s defacto bankrupt with no end in
sight, such being the insurmountable nature of same where interest alone is
eating progressively into GDP beyond the subterfuge, smoke and mirrors,
diversions. Gerson:
How serious are we about the deficit? (Washington Post) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘On Thursday April 21,
2011, 1:32 pm EDT And here comes the first indicator that Q2 GDP is
about to be mass revised by everyone, courtesy of Japan, and ongoing inflation
pressures: the Philadelphia Fed collapsed from a revised 43.4 (a 27 year high)
to 18.5, the lowest since November 2010… This is an especially great opportunity to sell / take profits
while you still can since there's much worse to come! U.S. Economy Remains on Life Support Hansen ‘This has been a whirlwind week for intangible
monetary policy news which was lead by:
…
A deeper look at advance
1Q2011 GDP real growth of 1.8% should quickly dispel this.
The economy is still in
recession if the economic effects of the automatic
stabilizers are taken into consideration. Automatic stabilizers are
automatic changes in the government’s revenues and outlays that are
attributable to cyclical movements in real output.
http://static.seekingalpha.com/uploads/2011/5/1/saupload_z_weekly13.png
…]
Rising
gas prices shift debate (Washington
Post) A year after a massive oil spill, a single concern is prompting push for
more drilling: $4-a-gallon gas. [Ah, riiiiight! Drilling … that’s it … not an
end to ‘no-recession-helicopter ben-b.s. bernanke’s’ dollar debasement policies
with the predictable consequences we’re seeing (including $4 gas), which among
other manipulations have been great for the frauds on wall street and ‘the
few’, to the detriment of virtually everyone else. SPX
Pullback History: 2009-2011
[chart http://static.seekingalpha.com/uploads/2011/5/3/saupload_spxpullbacks09_11050311.png ]
As
Food Stamp Recipients Hit New Record, 400 Americans Account For 10% Of Capital
Gains Today SNAP released the most recent food stamp numbers. Not
surprisingly, we just saw another all time high 44.2 million poverty-level
Americans relying on government funding for day to day sustenance. ]
White
House says bin Laden was unarmed, had no human shield (Washington Post)
Officials attribute initial missteps to administration’s “great haste” in
trying to share details even while operational updates were still pouring in. [
I don’t believe anything the u.s. government says … I can’t believe there are
people dumb enough to believe anything the u.s. government says. Bin
Laden was unarmed when SEALs stormed room (AP) AP - Osama bin Laden was
unarmed when Navy SEALs burst into his room and shot him to death, the White
House said Tuesday, a change in the official account that raised questions… White House struggles to get story right on raid (AP)
How
Pakistan responds will determine its future relationship with the U.S. (Washington Post) A final breach could put at
risk U.S.’s hope of military progress against Afghan Taliban insurgents. [ I
mean come on! You have to give Pakistan a little credit; that is, like Iraq, Afghanitstan, etc., it’s a
thanks but no thanks … look at the destruction, the raping, pillaging and
plundering by the war criminal americans. What we see on our propagandist,
filtered news couldn’t possibly reflect the real sentiments regarding
pervasively corrupt, defacto bankrupt, war criminal americans. Key
Afghan aid programs delayed (WP) [
Strategy? Critical time? We’ve heard that song before. And, yet another nation
and innocent lives destroyed for no good reason .. Petraeus
to helm more-militarized CIA (WP) [
I believe there has already been a defacto coup d’etat in america.
Drudgereport: Pentagon Warns Obama Against Deeper Defense Cuts Ron
Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul
says the CIA has has in effect carried out a “coup” against the US government,
and the intelligence agency needs to be “taken out.” I also personally
believe there has been a defacto coup d’etat which has manifested in
various substantial, blatant, brazened frauds, ie., wall street, missing 360
tons of $100 bills in Iraq, war profiteering, etc., without fear of prosecution,
as the treasury is looted. But I also believe its scope is beyond just the CIA
with many complicit within the corrupted 3 branches of u.s. government (fed
judges, us attorneys, illegal system, etc.),military and private big money,
ie., wall street men, etc… http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
… “torture taxis” –
used by the CIA to move captives seized in its kidnapping or “extraordinary
rendition” operations .. simultaneously used for drug distribution .. A
Gulfstream II jet aircraft N9875A identified by the British Government and the
European Parliament as being involved in this traffic crashed in Mexico- In
2004, another torture taxi crashed in a field in Nicaragua with a ton of
cocaine aboard- same planes chartered to the CIA for the rendition of suspected
terrorists prisoners…’]
SPX
Pullback History: 2009-2011
[chart http://static.seekingalpha.com/uploads/2011/5/3/saupload_spxpullbacks09_11050311.png ]
CHART
OF THE DAY: Watch the US Debt Set a 60 Year Record
Wall Street falls as earnings fears threaten rally (Reuters) - Reuters - stocks fell on Tuesday as investors
questioned the sustainability of the rally in light of fresh worries about
earnings growth in the coming quarters.
‘World
is safer,’ president says Osama bin Laden is portrayed as a reclusive
figure whose final moments exposed his cowardice. (Washington Post) [ This former cia-supported ally may be
legitimately described as many things; but coward is not one of them.
Principled in giving up riches, comfort, he said americans are thieves; that is absolutely true, and I would
add frauds, criminals, war criminals. Bullies / cowards;ie., wobama, bush,
clinton, cheney, bush, et als … - I wrote: Psychology
forum Re: Bystander Effect ‘… I believe the
foregoing psycho-babble to be absolute, unequivocal
Rubbish/Hogwash/b.s.
The foregoing web site is, from direct experience, lacking credibility. Indeed,
while walking through Military Park (a sliver of a “park” - more a pedestrian
thoroughfare/cement walks) in newark, new jersey on the way to the bank during
lunch hour, I heard the clearly audible screams/cries of what turned out to be
an old lady on the ground with blood streaming from her mouth. I ran toward the
sound of the cries, the source of which I could not see because there were so
many people in and about this thoroughfare so as to block any vision of the
source of the cries. When I came to the woman, on the ground, blood streaming
from her mouth, I asked what happened, to which she responded she had been hit
in the mouth and knocked to the ground, her purse stolen/put inside her
shopping bag, and she pointed out the criminal casually now walking across the
main street. Nobody stopped to help her, many having passed her by. I slammed
the thug to the ground so hard that, in light of all the blood and confusion
(limbic system / adrenalin flow) I thought I had been stabbed (the blood was
from his elbows hitting the pavement so hard - no one helped/a crowd
gathered/an undercover cop happened along). When I testified at the Grand Jury
Proceeding I made sure his threat on my life was set forth in prima facie
fashion so as to maximize the DA’s position with both felonies (he went to
prison – pled out). (The other case I wrote about here - Having had occasion to have run down a mugger in newark, n.j. who
apparent had followed a girl from the bank on her way to the bursar to pay
tuition, though in pretty good shape, I was astounded by how totally exhausting
such a pursuit was, how much like rubber my arms were when I traded punches with
the perpetrator, and truth be told, if I had a flashlight on my belt, I have
little doubt that I would have probably used it to subdue the perp. The girl
was not that seriously injured, did get her pocketbook and tuition back, and
the criminal went to jail. The other thing about such a pursuit that
amazed me was that no one else assisted the girl or me despite being in a
position to do so).
CONCLUSION
The reality, though difficult for many, including psychologists to accept is
that quite simply, the vast and overwhelming majority of americans are without
any courage whatsoever. They are cowards, plain and simple. All the excuses,
rationalizations, etc., psycho-babble if you will, in the world will not change
that fact. I could cite numerous instances involving white collar/RICO crimes
involving such cowardice as well. I understand statistics, the term ad hoc,
sampling, etc.. The conclusion stands!.
Let
the budget battle begin After two weeks of tumultuous meetings with
constituents, Congress returns to a lengthy fight over the nation’s solvency.
(Washington Post) [ Or more aptly put, stated another way, the
nation’s solvency is over. Now that would be cutting to the chase. After
all, it’s a little late for ‘budget
bustin’ heroics’. Quite simply, america’s defacto bankrupt with no end in sight,
such being the insurmountable nature of same where interest alone is eating
progressively into GDP beyond the subterfuge, smoke and mirrors, diversions. Gerson:
How serious are we about the deficit? (Washington Post) [ Not much! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘On Thursday April 21,
2011, 1:32 pm EDT And here comes the first indicator that Q2 GDP is
about to be mass revised by everyone, courtesy of Japan, and ongoing inflation
pressures: the Philadelphia Fed collapsed from a revised 43.4 (a 27 year high)
to 18.5, the lowest since November 2010… This is an especially great opportunity to sell / take profits
while you still can since there's much worse to come! U.S. Economy Remains on Life Support Hansen ‘This has been a whirlwind week for intangible
monetary policy news which was lead by:
My foggy long range
economic view is of a moderately improving economy which is fighting growing
fiscal headwinds. My takeaway from from the press conference and FOMC meeting
was a fairly strong opinion by Chairman Bernanke that the economy was gaining
enough traction to stand on its own without further accommodation.
A deeper look at advance
1Q2011 GDP real growth of 1.8% should quickly dispel this.
The economy is still in
recession if the economic effects of the automatic
stabilizers are taken into consideration. Automatic stabilizers are
automatic changes in the government’s revenues and outlays that are
attributable to cyclical movements in real output.
http://static.seekingalpha.com/uploads/2011/5/1/saupload_z_weekly13.png
…
]
U.S.
debt Running in the red: How the U.S., on the road to surplus, detoured to
massive debt (Washington Post) [ Detour,
towar’, war … thieving, raping, pillaging and plundering … Davis
‘… This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE OF
CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
… Philadelphia
Fed Depresses Economists Durden ‘And here comes the first indicator that Q2
GDP is about to be mass revised by everyone, courtesy of Japan, and ongoing
inflation pressures: the Philadelphia Fed collapsed from a revised 43.4 (a 27
year high) to 18.5, the lowest since November 2010… This is an especially great opportunity to sell / take
profits while you still can since there's much worse to come!
WallStCheatSheet:
Obama’s
victory lap (Washington Post) The killing of bin Laden offered hope of
instant renewal. [ Only wobama aficionado Mr. Milbank could latch onto this
propagandist Orwellian dream and call it victory. Sounds like he’s shootin’ for
a job in this failed presidency/administration as others, including from the
Post, have done and made. 10
Reasons 2011 Is Feeling More and More Like 2008 Jensen ‘The market
ended April as it began, grinding up on low volume, ignoring increasingly
worsening energy prices, continued turmoil in the Middle East and slowing
worldwide economic growth. To me it feels like we are in the calm before the
storm. More specifically, it eerily feels like the months before the financial
crisis and meltdown of 2008. The similarities are striking to me and think the
market is ignoring the signs of an impending and significant pullback over the
summer.
Here are ten reasons 2011
is starting to feel so much like 2008.
]
Osama
bin Laden was discovered ‘hiding in plain sight’ in Pakistan (Washington Post) U.S. officials begin to
provide details on the chronology of events. [
Kurt Nimmo and Alex
Jones | Obama makes a
suspiciously timed speech, claims Osama killed in Pakistan. Videos [ As set
forth infra, I personally believe Osama’s been dead for quite some time.
Indeed, for one on dialysis, he otherwise would have been nothing less than a
modern day miracle in terms of longevity / mortality rates for those so
afflicted, particularly under the ‘stressful’ circumstances involving evading
capture, betrayal for money, etc.. His ‘surfacing’ for a ‘talk’ wouldn’t even
pass muster in the most rudimentary requirements for ‘proof of life’. The
release at this time of the ‘announcement’ is, rather than a victory lap so to
speak, but rather a sign of weakness and desperation on the part of america
whose global and domestic economic, financial, and geopolitical position is
substantially diminished and declining rapidly and whose military industrial
complex welfare plan along with the Orwellian diversion of the masses could at
most yield a pyrrhic victory which also would require for consummation a
wrap-up of this nation-bankrupting contrived war scenario, which is not likely.
Moreover, the same comes at a time of
systemic failure for pervasively corrupt, defacto bankrupt america While the
‘announcement’ plays well for the nonce, to the dumb, uninformed back home, the
same will galvanize resistance in the
name of their now martyr, Osama Bin Laden. In sum, other than somewhat
questionable propaganda value, the announcement will have no measurable effect
on america’s continuing mideast / global debacle. In other words, defacto
bankrupt america has used up a ‘bullet’, albeit a blank at that! ]
In February, 2004, Iranian state radio claimed Osama bin Laden had been
captured in Pakistan’s border region with Afghanistan “a long time ago.”
Pentagon and Pakistani officials denied the report. “Osama bin Laden has been
arrested a long time ago, but Bush is intending to use it for propaganda
maneuvering in the presidential election,” the radio report said…’ ]
Drudgereport: IMAM:
'Dogs should not rejoice too much for killing lions'...
IMAM VOWS REVENGE
UN
rights boss asks US for facts on bin Laden killing...
Pakistan
condemns 'unauthorized unilateral action'...
PANETTA: Photo coming...
One image
shows a bullet wound to his head above his left eye...
Likely to become most viewed photographs in modern
history...
Will
death image silence doubters or fan flames?
CARNEY:
Release 'could be inflammatory'...
Concerned with Muslim 'sensitivities'...
Should
news organizations publish?
What
bin Laden photos show...
STORY
CHANGES: OSAMA DIDN'T HAVE GUN, DIDN'T USE WIFE AS SHIELD...
WH
SPOKESMAN: 'Resistance does not require a firearm'...
Official:
Appeared to be 'reaching for a weapon'...
Wife
not killed, shot in leg...
FLUSTERED
CARNEY: 'EVEN I'M GETTING CONFUSED'...
RASMUSSEN:
No 'Immediate Bounce' for Obama...
AVERAGE GAS PRICE NATIONWIDE LIKELY TO TOP $4 BY WEEK'S END...
$4.44
a gallon in Chicago...
Petition
Demands Equal FACEBOOK Town Hall Meeting for the GOP Presidential Nominee...
Looters hit tornado victims' homes...
WIKILEAKS' Assange says
FACEBOOK a spy tool for US government... [ Facebook is not alone in
that regard … you must assume that all is being viewed … that’s my view.
Moreover, I further believe that much of the ‘hacking’ / intrusion / viral
infections are done by the u.s. government or their assigns. ]
GDP: These Awesome Charts Put the GDP Revision in Perspective
7 Significant Variables That Can Move Stock Prices Lower WallStCheatSheet [ It’s truly a bad investing scenario when
stocks / stock market is likened to gambling / sports betting – and I’d say the
latter is less prone to fraud / manipulation as is ubiquitously extant on
fraudulent wall street. ] ‘ There are many similarities between investing in stocks and handicapping in sports betting. For
example, investors (bettors) have opposing views on whether a particular stock
will go up or down (win or lose), and determine if the valuation (point spread)
is reflective of the proper equilibrium (supply & demand). And just like
the stock market, virtually anybody off the street can place a sports bet –
assuming one is of legal age and in a legal betting jurisdiction.
Right now investors are poring over data as part of the
critical, quarterly earnings ritual. Thus far, roughly 20% of the companies
in S&P 500 index (NYSE:SPY) have reported their results and 78% of those companies have beaten Wall Street expectations.
Unfortunately for the bulls, this trend has not been strong enough to push
market prices higher in 2010. Companies that have reported include: Microsoft (NASDAQ:MSFT), Alcoa (NYSE:AA), American Express (NYSE:AXP), Boeing (NYSE:BA), Bank of American (NYSE:BAC), Citigroup (NYSE:C), Caterpillar (NYSE:CAT), Chevron (NYSE:CVX), duPont (NYSE:DD), General Electric (NYSE:GE), Goldman Sachs (NYSE:GS), IBM (NYSE:IBM), Johnson & Johnson (NYSE:JNJ), JPMorgan (NYSE:JPM), Coca-Cola (NYSE:KO), Ford (NYSE:F), McDonald’s (NYSE:MCD), 3M (NYSE:MMM), Merck (NYSE:MRK), Proctor & Gamble (NYSE:PG), Sprint (NYSE:S), Traveler’s (NYSE:TRV), United Technologies (NYSE:UTX), eBay (NASDAQ:EBAY), Verizon (NYSE:VZ) and ExxonMobil (NYSE:XOM).
So how and why can
market prices go down on good
news? There are many reasons that short-term price trends can diverge from
short-run fundamentals. One major reason for the price-fundamental gap is the
following factor: expectations. Just last week, the market had climbed over
+70% in a ten month period, before issues surrounding the Massachusetts
Senatorial election, President Obama’s banking reform proposals, and Federal
Reserve Bank Chairman Ben Bernanke’s re-appointment surfaced. With such a large
run-up in the equity markets come loftier expectations for both the economy and
individual companies.
So when corporate
earnings unveiled from companies like Google (NASDAQ:GOOG), J.P. Morgan (NYSE:JPM), and Intel (NASDAQ:INTC) outperform relative to forecasts, one
explanation for an interim price correction is due to a significant group of
investors not being surprised by the robust profit reports. In sports betting
lingo, the sports team may have won the game this week, but they did not win by
enough points (“cover the spread”).
Some other reasons stock
prices move lower on good news:
Certainly these
previously mentioned issues do not cover the full gamut of explanations for
temporary price-fundamental gaps. Moreover, many of these factors could be used
in reverse to explain market price increases in the face of weaker than
anticipated results.
For those individuals
traveling to Las Vegas to place a wager on the NFL Super Bowl, betting on the
hot team may not be enough. If expectations are not met and the hot team wins
by less than the point spread, don’t be surprised to see a decline in the value of the bet.
Wade W. Slome is a
CFA and CFP® at Sidoxia Capital Management.
Disclosure: Sidoxia
Capital Management (SCM) and some of its clients own GOOG and certain exchange
traded funds, but do not own JPM or INTC or any other security referenced in
this article…’
10
Reasons 2011 Is Feeling More and More Like 2008 Jensen ‘The market ended April as it began, grinding
up on low volume, ignoring increasingly worsening energy prices, continued
turmoil in the Middle East and slowing worldwide economic growth. To me it
feels like we are in the calm before the storm. More specifically, it eerily
feels like the months before the financial crisis and meltdown of 2008. The
similarities are striking to me and think the market is ignoring the signs of
an impending and significant pullback over the summer.
Here are ten reasons 2011
is starting to feel so much like 2008.
History does not always
repeat itself, but it does rhyme, as the saying goes. For the reasons listed
above, I am very cautious here. I believe we are due we are in for a
significant correction over the summer of 15%-25%. I am keeping a good portion
of my portfolio in cash, awaiting the pullback that I feel is close. I hope to
use these funds to pick up good companies with solid growth prospects - like
Apple (AAPL)
and Google (GOOG)
- at some point over the summer at lower prices. The funds I do have in the
market are concentrated in large cap blue chip stocks with reasonable
valuations, growing revenues and solid dividend yields. Companies like
Microsoft (MSFT), Intel (INTC),
Novartis (NVS),
Abbott Labs (ABT), and Telefonica (TEF) are
some of these types of stocks that I think fit the bill. Be careful out there.’
U.S.
Treasury: China Has Decreased Its Holdings of U.S. Debt CNSNews.com | Mainland China has decreased its holdings of U.S.
Treasury securities since last October.
The
American Dream
May 2, 2011
The U.S. middle class is
being shredded, ripped apart and systematically wiped out. If you doubt
this, just check out the statistics below. The American Dream is being
transformed into an absolute nightmare. Once upon a time, the rest of the
world knew that most Americans were able to live a middle class
lifestyle. Most American families had nice homes, most American families
had a car or two, most American families had nice clothes, most American
families had an overabundance of food and most American families could even
look forward to sending their children to college if that is what the kids
wanted to do. There was an implicit promise that this was the way that it
was always going to be. Most of us grew up believing that if we worked
really hard in school and that if we stayed out of trouble and that if we did
everything that “the system” told us to do that there would be a place for us
in the middle class too. Well, it turns out that “the system” is breaking
down. There aren’t enough good jobs for all of us anymore. In fact,
there aren’t very many crappy jobs either. Millions are out of work,
millions have lost their homes and nearly all of the long-term economic trends
just keep getting worse and worse. So is there any hope for the U.S.
middle class?
No, there is not.
Unless fundamental changes
are made economically, financially and politically, the long-term trends that
are destroying the U.S. middle class will continue to do so.
The number of good jobs has
been declining for a long time. The good jobs that have been lost are
being replaced by a smaller number of low paying “service jobs”.
Meanwhile, the cost of
everything is going up. It is getting really hard for American families
to be able to afford to put food on the table and to put gas in the tank.
Health care costs are absolutely outrageous and college tuition is now out of
reach for millions of American families.
Every single month more
American families fall out of the middle class. Today there are 18
million more Americans on food stamps than there were just four years
ago. More than one out of every five U.S. children is living in
poverty. Things are getting really, really bad out there.
The following are 36
statistics which prove that the American Dream is turning into an absolute
nightmare for the middle class….
#1 The competition for decent jobs in America has
gotten absolutely insane. There have been reports of people actually
getting down on their knees and begging for jobs. Many Americans are
starting to wonder if they will ever get a decent job again. According to
the U.S. Bureau of Labor Statistics, the average duration of unemployment in
the United States is now an all-time record 39
weeks…
#2 According to the Wall Street Journal, there
are 5.5
million Americans that are unemployed and yet are not receiving unemployment benefits.
#3 The number of “low income jobs” in the U.S. has risen steadily over the past 30 years and they now account for 41 percent of all jobs in the United States.
#4 Only 66.8% of American men had a job last
year. That was the lowest level that has ever been recorded in all of
U.S. history.
#5 Once upon a time, anyone could get hired at
McDonald’s. But today McDonald’s turns away a higher percentage of
applicants than Harvard does. Approximately 7 percent of all those that apply to get
into Harvard are accepted. At a recent “National Hiring Day” held by
McDonald’s only about 6.2 percent of the one
million Americans that applied for a job were hired.
#6 There are now about 7.25 million fewer jobs in
America than when the recession began back in 2007.
#7 The United States has lost an average of about
50,000 manufacturing jobsper month since China joined the World Trade Organization in
2001.
#8 A New York post analysis has found that the rate of
inflation in New York City has been about 14 percent over the past
year.
#9 The average price of a gallon of gasoline in the
United States is now up to$3.91 a gallon.
#10 Over the past 12 months the average price of
gasoline in the United States has gone up by about 30%.
#11 Spending on energy now accounts for more than 6
percent of all consumer spending. Every time this has happened since
1970 we have also had a recession
that followed.
#12 The average American driver will spend somewhere
around $750 more for gasoline in 2011. Unfortunately, it
seems likely that the price of oil is going to go up even higher. Already
the price of oil is closing in on the all-time record….
#13 In the United States, over 20 percent of all children are
living in poverty. In the UK and in France that figure is well under 10
percent.
#14 According to the U.S. Census, the number of children
living in poverty has gone up by about 2 million in just the
past 2 years.
#15 The wealthiest 1% of all Americans now own more than a third of all the
wealth in the United States.
#16 The poorest 50% collectively own just 2.5% of all the wealth in the United
States.
#17 The wealthiest 1% of all Americans own over 50% of all the stocks and bonds.
#18 According to a new report from the AFL-CIO, the
average CEO made 343 times more money than the
average American did last year.
#19 In 1980, government transfer payments accounted for
just 11.7% of all income. Today, government
transfer payments account for 18.4% of all income.
#20 U.S. households are now receiving more income from
the U.S. governmentthan
they are paying to the government in taxes.
#21 59 percent of all Americans now receive
money from the federal government in one form or another.
#22 The average cost of tuition, room and board at
America’s public universities is now $16,000 a year. For America’s
private universities, that figure is $37,000 a year.
#23 The cost of college tuition in the United States has
gone up by over 900 percent since 1978.
#24 Approximately two-thirds of all college students
graduate with student loan debt.
#25 17 million college
graduates are doing jobs that do not even require a college degree.
#26 According to the Bureau of Economic Analysis, health
care costs accounted for just 9.5% of all personal consumption back in
1980. Today they account for approximately 16.3%.
#27 One study found that approximately 41 percent of working age
Americans either have medical bill problems or are currently paying off medical
debt.
#28 Back in 1965, only one out of every 50 Americans was
on Medicaid. Today,one out of every 6 Americans is
on Medicaid.
#29 Total credit card debt in the United States is
now more than 8 times larger
than it was just 30 years ago.
#30 During the first three months of this year, less new
homes were sold in the U.S. than in any three month period ever recorded.
#31 Now home sales in the United States are now down 80% from the peak in July 2005.
#32 U.S. home prices have now declined 32% from
the peak of the housing bubble.
#33 For most middle class families, the family home is
the number one financial asset. Unfortunately, U.S. home values have
declined an astounding 6.3
trillion dollars since the housing crisis first began.
#34 According to a recent census report, 13% of all
homes in the United Statesare currently sitting empty.
#35 The housing crisis just seems to keep on getting
worse. 31 percent of the homeowners that
responded to a recent Rasmussen Reports survey indicated that they are
“underwater” on their mortgages.
#36 Unfortunately, it looks like millions more middle
class Americans could soon be in danger of losing their homes. According
to the Mortgage Bankers Association, at least 8 million
Americans are at least one month behind on their mortgage payments at this
point
National / World
Kurt Nimmo and Alex
Jones | Obama makes a
suspiciously timed speech, claims Osama killed in Pakistan. Videos [ As set for
the infra, I personally believe Osama’s been dead for quite some time. Indeed,
for one on dialysis, he otherwise would have been nothing less than a modern
day miracle in terms of longevity / mortality rates for those so afflicted,
particularly under the ‘stressful’ circumstances involving evading capture,
betrayal for money, etc.. His ‘surfacing’ for a ‘talk’ wouldn’t even pass
muster in the most rudimentary requirements for ‘proof of life’. The release at
this time of the ‘announcement’ is, rather than a victory lap so to speak, but
rather a sign of weakness and desperation on the part of america whose global
and domestic economic, financial, and geopolitical position is substantially
diminished and declining rapidly and whose military industrial complex welfare
plan along with the Orwellian diversion of the masses could at most yield a
pyrrhic victory which also would require for consummation a wrap-up of this
nation-bankrupting contrived war scenario, which is not likely. Moreover, the
same comes at a time of systemic failure
for pervasively corrupt, defacto bankrupt america While the ‘announcement’
plays well for the nonce, to the dumb, uninformed back home, the same will galvanize resistance in the name of their now
martyr, Osama Bin Laden. In sum, other than somewhat questionable propaganda
value, the announcement will have no measurable effect on america’s continuing
mideast / global debacle. In other words, defacto bankrupt america has used up
a ‘bullet’, albeit a blank at that! ]
In February, 2004, Iranian state radio claimed Osama bin Laden had been
captured in Pakistan’s border region with Afghanistan “a long time ago.”
Pentagon and Pakistani officials denied the report. “Osama bin Laden has been
arrested a long time ago, but Bush is intending to use it for propaganda
maneuvering in the presidential election,” the radio report said.
Osama bin Laden died of
kidney failure soon after the September 11, 2001, attacks. In 2002, Pakistani
President Pervez Musharraf said bin Laden had kidney disease, and that he had required a
dialysis machine when he lived in Afghanistan. That same year, the FBI’s
top counterterrorism official, Dale Watson, said, “I personally think he is
probably not with us anymore.”
A Taliban leader told
the Pakistan Observer on December 21, 2002, that Bin Laden was suffering from a
serious lung complication and died in mid-December, in the vicinity of the Tora
Bora mountains. The source claimed that bin Laden was laid to rest honorably in
his last abode and his grave was made as per his Wahabi belief, according to Fox News.
Alex Jones was told live
on the radio in 2002 by high-level Council on Foreign Relations members that
Osama Bin Laden had died of kidney failure in early 2002.
“I have it from high
level [sources] from inside the Bush administration…that bin Laden died of
natural causes and that his family has given the body to the CIA, that they’re
gonna roll him out right before the election, that he’s on ice right now. They
will claim they killed him right before the election,” Alex
said at the time.
“Jones gave a caution
that the intelligence could be disinformation but claimed that his base in
Austin was extremely close to the Bush administration and similar information
received in the past had been credible,” Paul
Joseph Watson wrote in August of 2002.
During the 2004
election, CNN reported that Democratic insiders had been told that George W.
Bush was going to use the Bin Laden body as an ace-in-the-hole if he thought he
was in danger of losing the 2004 election. This confirmed the evidence that
Jones had been given by the CFR and others.
In 2003, former
Secretary of State Madeleine
Albright told Fox News Channel analyst Morton Kondracke she suspected Bush
knew the whereabouts of Osama bin Laden and was waiting for the most
politically expedient moment to announce his capture.
Benazir Bhutto, who was killed in a suicide attack at the
end of 2007, stated that Osama bin Laden had been killed by Ahmed Omar Saeed
Sheikh, a man convicted of kidnapping and killing journalist Daniel Pearl.
Obama’s announcement
follows the release of a highly suspicious birth certificate last week. Both events
represent psychological operations that possibly portend more significant
events in the days ahead as the U.S. dollar continues to lose its reserve
status, the economy fails to recover as promised, and wars expand in Libya,
Pakistan, and Afghanistan.
Obama’s propaganda stunt
arrives as the Democrats kick off their leader’s presidential reelection bid
against a number of Republicans contenders who have been highly critical of not
only his perceived handling of the economy, but also his management of the
manufactured war on terror.’
Stock
market on a roll despite slowing economic growth, lingering
unemployment[Also known as reality! Roll … yes, indeed … everyone’s to get
rolled! ] (Washington Post) Dow is up
more than 10 percent for 2011, to its highest point in nearly three years.
[ Same bubble scenario preceeding last crash (including currency manipulation);
yet, far worse this time owing to insurmountable debt and defacto bankruptcy of
the nation.
Fed
Chairman Bernanke does reality TV
(WP) [ Except the ‘NO-RECESSION HELICOPTER BEN B.S. BERNANKE’ show is
scripted unreality … even with his reduction in estimate for ‘economic growth’,
the frauds on wall street still rallied.
Bernanke
prepares to make history (Washington
Post) [ He already has! $6 gas acomin’,
$1,508+ gold, $46+ silver, other commodities at record levels, hyperinflation
as predicted well on the way from over-printing of fiat paper currency by fed
as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
·
The extended
(and then further extended) unemployment benefits have kept an artificially
higher demand for consumer consumption. As a result, the US government has
artificially subsidized corporate profits.
·
The billions
saved through “free loading” by homeowners who have defaulted on their
mortgages yet maintained their residence, thus living without a mortgage
payment.
·
The
artificially suppressed interest rates...
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
ATTENTION: REPORTERS – HIP BOOTS MANDATORY, WADERS
RECOMMENDED SINCE YOU’LL BE AT LEAST KNEE-DEEP IN ‘NO-RECESSION HELICOPTER BEN
B.S. BERNAKE’ B*** S***! ] On Wednesday,
he will be the first Fed chairman to take on-the-record questioning from the
media.
Why
do Americans still dislike atheists? (Washington Post) [ And not just americans … Why? First and
foremost because there is a God. Second, it is intellectually dishonest to be
an atheist. Specifically, there is absolutely no evidence to dispute the
existence of God. While one might similarly argue that there is no evidence to
suggest there is a God (which I would dispute), which for most is a fair
statement, the same would yield at best, if intellectually honest, the position
of ‘agnostic’. I can totally understand and even empathize with the view of the
agnostic. After all, at this point, there seems to be ‘no rhyme nor reason’ at
all. But, think binary, positives / negatives. Just too many negatives. Think
‘capital punishment’. No, the world’s not going to end in 2012 as some fear.
Rather, think slow burn; decades at best; then ‘poof’. In the scheme of things,
this world’s just not that important (apes, notochordates, and initially single celled organisms).
Kind of akin to what I previously wrote: (God doesn’t care that you wrestle a
girl who wants to wrestle!) Boy
wrestler forfeits match to female opponent... [ What a homo! Wow! I
feel sorry for those guys she actually beat (20 of them – her record was 20 and
13) … they’ll probably never get over it … nor should they … I have to rethink
my regard for Iowa, Iowa state wrestling now presuming such stalwart
championship teams to be the products of out-of-state imports … as for the guy
who forfeited, he could have easily and gently taken her down (you can easily
do that with a lesser opponent), got her in a double grapevine and grind her in
a certain way into the mat, and when she was in the throws of convulsive
orgasm, she’d unwittingly arch her back, thereby pressing her own shoulder
blades to the mat, thereby pinning herself, thus enabling the homo to say in a
manner of speaking that he was making heterosexual love not war with her ………
how pathetic and preposterous this was … and, let me remind the homo that God
doesn’t care that you wrestle a girl who wants to wrestle! ]]
]
U.S.
troops’ deadliest month in Iraq (Washington Post) With 11 deaths, April was the worst for U.S.
forces since combat
missions officially ended last year, according to military and independent
record keepers. [Riiiiight! … That ‘progress thing’ they keep reminding us of …
which of course is progress in progressive increasing pervasively corrupt,
defacto bankrupt america’s insurmountable debt.
Key
Afghan aid programs delayed
(Washington Post) [ Strategy? Critical time? Seems we’ve heard that song
before. And, yet another nation and innocent lives destroyed for no good reason
… and, pervasively corrupt and defacto bankrupt america … winning hearts and
minds …NOT! … Petraeus
to helm more-militarized CIA
(Washington Post) [ I personally unequivocally believe there has already
been a defacto coup d’etat in america. Drudgereport: Pentagon
Warns Obama Against Deeper Defense Cuts ... (And where is it going to come from
... we've already had in pervasively corrupt, defacto bankrupt, war crimes
nation america a defacto coup d'etat) ... Ron
Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul
says the CIA has has in effect carried out a “coup” against the US government,
and the intelligence agency needs to be “taken out.” I also personally
believe there has been a defacto coup d’etat which has manifested in
various substantial, blatant, brazened frauds, ie., wall street, missing 360
tons of $100 bills in Iraq, war profiteering, etc., without any fear of
prosecution, and of course concomitant decline for u.s. as the treasury is
looted. But I also believe its scope is beyond just the CIA with many complicit
within the corrupted 3 branches of u.s. government (fed judges, us attorneys,
illegal system, etc.) plus the military and private big money, ie., Goldman
Sachs / wall street men, etc… http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
The
outdated ‘Trump Rule’ (Washington
Post) COLUMN | The would-be GOP
presidential contender has long shown a penchant for sexism. Trump
calls leaders ‘stupid’ at Vegas casino [ Again, the pot calls the kettle black … if
it was only just sexism that defined deeply flawed, mental case, mobster /
fraudster trump, … yet there’s just
enough truth and an open bar to keep their attention … Memo to Donald Trump: You're fired Los Angeles Times - What The Donald 'accomplished' is to make a fool of
himself and diminish President Obama's dignity. It's time for the loud-mouthed
man with the big bankroll and bad haircut to take his sideshow to the trash
heap.’… What Mr. Banks fails to realize is that wobama has no dignity and
appropriate criticism, as I’ve said before, is to him like ‘water off a duck’s
back’ and you can not shame the stereotypical wobama. TRUMP
TO GIBBS: YOU'RE 'A LOSER' [‘Another trumped-up case of the pot calling the
kettle black’]... TRUMP: Obama
Not Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically,
Donald with the mantra, ‘you’re a killer, you’re a king’ in film noir
melodramatic fashion which proved too much for the more balanced and ‘chosen /
favored’ elder brother trump who committed suicide. The old man also required
trump to go to prep / military / boarding school where according to a
classmate, Ted Levine, trump used to wet / pee in his bed. ) vegetable garden in the same manner as
dumbya bush … mobster trump and people like trump are part of the problem
(total b*** s***, fraud, etc., as in his home turf, mob-infested sinkholes,
jersey / new york), not the solution. Indeed, trump is an interesting mental
case in that he evolved from narcissist (those inflated grandiose moods coupled
with feelings of inferiority – he loved to obsessively read those hitler
speeches for inspiration and to pump himself up according to Ivana Trump) to
severe case of antisocial personality disorder [ predatory disregard for and
violation of the rights of others – hence, those sophomoric soundbite solutions
to complex problems as, ie., taking oil fields(Libya), 25% tariff on Chinese
(american goods made in China), drug money laundering in his casinos, bribery,
etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
In a rational nation that
wasn’t in decline as pervasively corrupt, defacto bankrupt america, trump and
sister Maryanne would both be in prison.
The
president, lost in thought (WP) [ How ‘bout just lost! Wobama … a common
liar. Drudgereport: TELEPROMPTER
INVENTOR DIES... (Wobama ‘mourns … day of silence declared’)
U.S. Murders Children in Bid to Assassinate Qaddafi Tony Cartalucci | Ghoulish hunt for
Qaddafi defines NATO.
Fed
Sting Against Amish Raw Milk Producer Results in Federal Case A year long
sting operation against an Amish “contraband” raw milk producer in Pennsylvania
has resulted in a court case against Rainbow Acres Farms. The government filed
a ten page complaint against the Amish business in federal court last week.
US
Murders Children in Bid to Assassinate Qaddafi (Again) The very policy of
targeted assassinations sidesteps any semblance of law, national or
international.
Drudgereport: REPORT: Bin Laden already buried at sea... [ As set for the supra, I personally believe Osama’s
been dead for quite some time. Indeed, for one on dialysis, he otherwise would
have been nothing less than a modern day miracle in terms of longevity /
mortality rates for those so afflicted, particularly under the ‘stressful’
circumstances involving evading capture, betrayal for money, etc.. His ‘surfacing’
for a ‘talk’ wouldn’t even pass muster in the most rudimentary requirements for
‘proof of life’. The release at this time of the ‘announcement’ is, rather than
a victory lap so to speak, but rather a sign of weakness and desperation on the
part of america whose global and domestic economic, financial, and geopolitical
position is substantially diminished and declining rapidly and whose military
industrial complex welfare plan along with the Orwellian diversion of the
masses could at most yield a pyrrhic victory which also would require for
consummation a wrap-up of this
nation-bankrupting contrived war scenario, which is not likely. Moreover, the
same comes at a time of systemic failure
for pervasively corrupt, defacto bankrupt america While the ‘announcement’
plays well for the nonce, to the dumb, uninformed back home, the same will galvanize resistance in the name of their now
martyr, Osama Bin Laden. In sum, other than somewhat questionable propaganda
value, the announcement will have no measurable effect on america’s continuing
mideast / global debacle. In other words, defacto bankrupt america has used up
a ‘bullet’, albeit a blank at that! ]
SHOT IN HEAD; BIN LADEN IS DEAD.....
SEALS HELD TWO REHEARSALS; OBAMA WATCHED RAID IN SITUATION ROOM...
Mission was to kill, not capture; no prisoners taken...
OFFICIAL: BIN LADEN GIVEN RELIGIOUS FUNERAL BEFORE SEA BURIAL...
Obama: U.S. Carried Out Operation 'At My Direction'...
Hundreds gather outside Bush's Dallas home...
SIGN: 'Obama Forgot To Say Thank You President Bush!'
Killing brings anger, relief in Arab world...
Pakistanis rally to pay homage to bin Laden...
Musharraf: Mission violated sovereignty...
Hamas condemns killing of 'holy warrior'...
BURIED AT SEA:
WH DEBATES RELEASING PHOTO OF CORPSE
U.S.
issues worldwide travel alert...
Islamists:
Death will not mute Jihad call...
OFFICIAL:
U.S. didn't want to create shrine...
DNA
tests won't be complete for days...
WHITE
HOUSE: BODY HANDLED IN 'ACCORDANCE WITH ISLAMIC PRACTICE'...
WIKILEAKS: Al Qaeda to unleash 'nuclear hellstorm' if Osama
killed...
FEAR:
Security Tightened at NY Airports, Times Square, World Trade Center Site...
Napolitano:
'Heightened state of vigilance'...
U.S.
issues worldwide travel alert...
Chemical
Biological Response Team Recalled from Japan...
Taliban
commander vows to avenge death...
USA
'Faces Broad Terror Threat'...
SHOT IN HEAD; BIN LADEN IS DEAD.....
Killed in mansion close to Pakistani capital...
Crowds gather at White House, Ground Zero to celebrate...
REPORT: DNA testing confirms bin Laden death... [ Come
on! Much like the purported ‘in-house’ DNA test ‘confirming’ the paternity of
‘Prince Harry’ (actually the bastard son of Hewitt), easy enough to buy /
contrive with sworn secrecy / money. ]
WH:
'99.9% sure...
PENTAGON: WIFE IDENTIFIED HIM BY NAME DURING RAID...
Senator
questions sea burial... [ Yeah … pretty quick at that, particularly
for the u.s. government! Riiiiight! ‘Dead men buried at sea quickly tell no
tales!’ Sounds contrived, set to music for propaganda value at u.s. low point.
]
Islamic
scholars condemn...
SKYNEWS:
Can US Offer Final Proof Of Osama's Death?
Will
there be a photo?
Raid
captured on TWITTER...
PHOTOS:
719 newspaper front pages announce death...
GADHAFI
SURVIVES ATTACK THAT KILLS SON...
Disabled
children school hit in NATO strike...
April
deadliest month for US in Iraq since '09...
Obama's
father forced out at Harvard... BOSTON — President Barack Obama’s father was forced
to leave Harvard University before completing his Ph.D. in economics because
the school was concerned about his personal life and finances, according to
newly public immigration records. Harvard had asked the Immigration and Naturalization
Service to delay a request by Barack Hussein Obama Sr. to extend his stay in
the U.S., “until they decided what action they could take in order to get rid
of him,” immigration official M.F. McKeon wrote in a June 1964 memo. Harvard
administrators, the memo stated, “were having difficulty with his financial
arrangements and couldn’t seem to figure out how many wives he had.”…’
Read more: http://www.politico.com/news/stories/0411/53968.html#ixzz1L7vqFAhV
‘Microsoft confirmed
Thursday its Windows cash machine is under threat. So what else is new?
Uncertainty about the PC market's growth prospects, and what that means for
Windows in particular, arguably has been baked into Microsoft's ...’
Microsoft wrestles slack PC sales and wilting stock Reuters [ Microsoft is a dinosaur that should be out of business!
My latest / current but typical problems with Microsoft / windows-based pc’s
(dell) confirms this! ]
Investors
Seek Shelter: Dave's Daily ‘Another day and another light volume rally in
stocks. Investors continued to hedge this action by buying precious metals.
Ludicrous statements by government officials regarding inflation and the dollar
are starting to wear thin even among Permabulls. The WSJ headlined this
topic Friday stating government officials are "unfazed
by dollar slide". But, they reached fuzzy conclusions about what to do
about it. As long as the government doesn't seem to care, commodities will
rise, especially precious metals. It's the elephant in the room no one really
wants to confront. One way to end Bucky's slide is to stop printing so much
money. The Bernank hasn't figured this out since his previous academic studies
didn't yield results like we're experiencing now. In the Great Depression, from
which he gained his theories and policies, it was illegal to own gold and
currency trading hardly existed. But the Fed Chairman hasn't figured this out
yet so he continues to keep the presses running at full speed as we saw today
with more POMO
($6.6 billion) actions to lube the Primary Dealers. Earnings continue to
roll-in mostly mixed. The DJIA continues to lead the way as high priced
heavyweights (BA, CAT, CVX and etc) continue to lead the price-weighted index
higher. Losers included Microsoft(MSFT_) and Research in Motion(RIMM_). The bottom line is that it's the end of the
month and window-dressing remains at the forefront…’
Why
History Says You Should 'Sell in May'
Sterman ‘The most active traders, which usually man Wall
Street's trading desks, can alter market sentiment by either their presence or
absence. As the weather warms, these traders take ever longer lunch breaks,
which morphs into "Friday-free weekends," culminating in their
absence for decent chunk of the month of August. When these traders leave their
desks, it's a sign for the rest of us to cool off as well, in case thin trading
volume causes one of our holdings to suddenly spike or plunge. Hence, the
old-adage: "Sell in May and then go away." (Until the fall...)
Is it a wise move? Let's look. Well, we know April surely gives the impressions
of a solid market rally. The S&P 500 (SPY)
rose, 4%, 4% and 10% respectively in each of the past three years and is up
another 2.2% this month. That rally has recently extended into May, as the
S&P 500 has rallied an average of 3% in the past three years. But by the
end of May, the party seems to end.
(Click charts to expand)
http://static.seekingalpha.com/uploads/2011/4/29/saupload_04_29_11_sterman.png
The market has fallen in six of the past 10 Junes of the past decade, three
times the rate at which the various positive months have risen. Was there a
July bounce-back? Well, the five Julys of the last decade were split, but the
average loss was greater than the average gain.
http://static.seekingalpha.com/uploads/2011/4/29/saupload_04_29_11_sterman2.png
The rest of the summer doesn't hold much promise, either. An analysis by
Standard & Poor's shows that in the past 60 years, the market has fallen by
0.04% on average in August. It's even worse in September, with that figure
dropping to 0.78%. In fact, September is the only month to produce negative
average results through the past 80 years, according to Ibbotson &
Associates. Lastly, here's a sobering stat: according to S&P, since 1950,
the Dow Jones Industrial Average has produced an average gain of 7.4% from
November through April and 0.4% from May through October. (Yet as I noted
above, May has looked a bit stronger during the past three years.)
If you believe in the notion of "sell in May and go away," then there
are certain sectors you should be concerned about that are especially
vulnerable to the summer doldrums. For example, tech stocks tend to lag in
summer months, due to the capital spending cycle. Major orders are placed at
the beginning of the year and then purchasing managers are told to slow it down
as the year progresses, in part because it's hard to round up key materials
during the summer to complete major installations when so many are planning
their summer vacations. By year's end, tech spending rebounds as purchasing
managers tend to spend allocated-but-unused funds, in what's know as a budget
flush.
Natural gas stocks tend to weaken in the summer, unless it is an especially
active season for hurricanes or a large heat wave causes a spike in demand. In
their absence, heavy gas production, coupled with seasonal ebb in demand, has
tended to max-out gas storage facilities. And when that happens, gas prices hit
new lows and producers are forced to curtail production.
Lastly, commodities such as precious and industrial metals tend to slump as
major purchasers compete their full-year purchasing needs in the spring.
Indeed, China is said to be sitting on more-than-ample supplies of copper,
silver and other surging commodities, right at a time when the Chinese
government is trying to cool its economy. A drop in demand would pull the rug
out from some of the highest-flying commodities. Watch the commodity sector,
especially as it is priced to perfection and highly vulnerable to any slowdown
in demand…’
S&P's
US Downgrade and the Death of American Exceptionalism Harding ‘america, formerly the world’s
greatest country, whose financial strength and currency were supreme for the
past 100 years, has been put on notice by Standard & Poor’s that it is … second rate status.
It was disconcerting to read the ho-hum reactions of economists to S&P’s shift to a
negative outlook for US sovereign debt. As one who sees darker implications of
a downgrade in Treasuries, it gave me pause to wonder if I am overreacting to the
event. Perhaps they are correct in that it will probably not happen, and that
if it does, it’s no big deal because the dollar is still the world’s reserve
currency. Japan (real fine…disaster) and Great Britain (real fine…disaster) did
it and they are fine. And where else would investors go?
My conclusion is that the other 99 guys are out of step. My fellow analysts are
mired so deep in the trees that they overlook the forest of reasons why we got
into this mess in the first place. The problem with economic analysis and
analysts is that there is a tendency of disassembly. By breaking down the
problem into its parts one can miss how they all connect. Perhaps if they
stepped back and considered where this country is heading they would be less
sanguine.
After all, we are not looking at a single event but a series of political
decisions made over the past 15 years or so that have created today’s budget
crisis. And stepping back even farther, we are experiencing fundamental changes
in American culture. The well-worn cliché of the large ocean tanker taking
miles to change course is an accurate depiction of our situation. There is so
much built-in momentum based on entitlements and defense spending it is
unlikely that a crisis can be avoided.
Our economic and policy experts need to focus on this long-term problem rather
than just its short-term effects. Unless we deal with the fundamental problems,
today’s jury-rigged fixes will not stop our continued downward spiral.
The long-term problem is that American culture has changed and we are losing
what has been known as American “exceptionalism” as described by
de Toqueville in Democracy in America:
Tocqueville tried to
understand why America was so different from Europe in the last throes of
aristocracy. America, in contrast to the aristocratic ethic, was a society
where hard work and money-making was the dominant ethic, where the common man
enjoyed a level of dignity which was unprecedented, where commoners never
deferred to elites, and where what he described as crass individualism and
market capitalism had taken root to an extraordinary degree.
These values, behaviors, and ideas made America great.
But, things have changed. Today it is acceptable to rely on government to solve
our problems instead of taking responsibility for solving them ourselves. We
borrow more, spend more, save less, and rely on government to bail us out in
old age. We want government to “take care of us” when it comes to medical care.
We have become a culture of entitlement. And our rhetoric is more about
victimhood and entitlement than initiative and self-reliance. Unlike our
grandparents, we have no shame from accepting handouts.
We now accept Social Security and Medicare as normal. Many want Obamacare and
are willing to give up some sovereignty and self-reliance to get it. Our
younger generations believe they have a right to higher education and that they
(or their parents) should not have to pay for it. Government always has a
solution for you.
This is a massive cultural shift and it represents a struggle between two
opposing forces: our exceptionalism versus the entitlement culture. Both
operate in our society side-by-side, but the trend clearly favors the culture
of entitlement.
Our exceptionalism has declined inversely to the rise of the welfare state. It
started with the Progressive movement in the early 20th Century and the rise of
a powerful federal government. The greatest change came during the Franklin
Roosevelt years when government was seen to be a solution rather than the
problem that our Founders witnessed. The New Deal changed the social landscape
because its many programs pervaded almost every aspect of society. Many
of these programs survive today.
The significance of the Progressive movement is that the now common belief that
government “works” has become fixed in the popular psyche. That is far from de
Toqueville’s image of self-reliant individualistic Americans. The belief that
we can rely on government to solve problems means that we don’t have to solve
them ourselves. It means subordinating our individualism to the technocrat
class.
What are the consequences of this cultural shift? Higher taxes and a less
dynamic economy. Ultimately it means the disintegration of our economy. Let me
explain why.
We are becoming “European” in the sense that most of our fellow Americans
accept the idea that the welfare state has primacy over the individual in
pursuing social goals. As a result we are becoming less dynamic as a society.
We are becoming more complacent, culturally acceding to the mediocrity of
security at the expense of personal freedom. It means that taxpayers are
willing to accept higher taxes to pay for the Nanny State.
The question is: which taxpayers?
It is an axiom of politics that the recipient class will vote to preserve their
benefits. If they become the majority you will never get rid of their benefits.
The recipient class is already in the majority. The 77 million long-lived Baby
Boomers will be the dominant economic force for the next 40 years. And they
vote.
[chart]
Boomers will retire and apply for their Social Security and Medicare benefits.
That is, they will cease being producers and become recipients. They will draw
on those benefits for many, many years. It’s pretty obvious they won’t pay for
it.
It doesn’t take a statistician to see that our declining birthrate means there
will be fewer producers to support a growing class of recipient. The Social Security
Administration estimates that by 2035 only 2.1 workers will support one
recipient (down from about 5.1 workers in 1960 to about 3.0 today). Therein
lies the problem: our system of benefits is unworkable. When the working
taxpayers realize how much they must pay in taxes to support an unworkable
system, change will come, just not soon enough to satisfy S&P.
Add to that the following statistic:
A record 18.3% of the
nation’s total personal income was a payment from the government for Social
Security, Medicare, food stamps, unemployment benefits, and other programs in
2010. Wages accounted for the lowest share of income -- 51.0% -- since the
government began keeping track in 1929.
You may believe that the cultural values de Tocqueville identified haven’t
diminished in the US, but they have. Almost every index measuring startups and
job creation has declined. Here is some longitudinal data from the Census Department showing this
trend:
[chart]
It would be foolish of me to ignore the unparalleled entrepreneurial
infrastructure we Americans have. It is still strong and serves us well. This infrastructure
includes a vast economic system that provides capital and support for
entrepreneurs and rewards success well. It is a strong social force that is the
exact opposite of the cultural attitudes toward entitlement that I discussed
above. We still believe in the ability to make it big.
But that is changing. The decline in new business formation is still a telling
statistic. Since most (55%) new business formations have 1 to 4 employees
(if 1 to 10, then 76% in 2009), it demonstrates a shift in popular attitudes
about starting your own business.
Good things don’t last forever when their cultural and moral foundations are
being destroyed.
I don’t believe we will have budget reform that will be sufficient to turn
supertanker America around. We will have budget reform but it won’t put a
significant dent in our social welfare programs, at least in time to avoid
S&P’s threatened downgrade of US Treasuries. I would hope that Republicans
and Democrats can come together to deal with the
underlying substantive issues.
Maybe the Republicans will be able to force through some major changes in
Social Security, Medicare, and (eliminate) Obamacare. If they win the
Presidency in 2012 and are able to take Congress as well, it could be a
political sea change.
Don’t misunderstand what I am saying: I strongly support any attempts at
reform, but I don’t believe in political miracles. When polls of Tea Partiers
show they don’t want their retirement benefits touched, their new brand of
conservatism illustrates the breadth of our cultural change and the new
political reality.
Ask yourself this question: if the welfare system is not quickly reformed, what
solutions will our politicians turn to?
The answer is symbolic of the two clashing societal forces in America: the
producers versus the recipients. We know that the recipients have more votes.
I believe increased taxes are inevitable and, with Republicans’ opposition to
increased income taxes, raising them is questionable. That leaves politicians
with a very European solution: a national sales tax. With exemptions for
politically favored classes (“poor” people, however defined) it will be hailed
as a fair tax that will fall primarily on the “rich.”
“Everybody who
understands our long-term budget problems understands we’re going to need a new source of revenue, and a VAT [value-added tax]
is an obvious candidate,” said Leonard Burman, co-director of the Tax Policy
Center, a joint project of the Urban Institute and the Brookings Institution,
who testified on Capitol Hill [May, 2009] about his own VAT plan. “It’s common
to the rest of the world, and we don’t have it.”
And my point is that Americans will accept high taxes to get their benefits and
that makes us similar to Europeans who are used to them:
[chart]
If we cannot achieve fundamental reform of our welfare system, then high taxes
will become a fixture of our society and that has negative economic
consequences.
There is an economic concept known as the Rahn Curve, devised by Professor
Richard Rahn, now a Senior Fellow at the Cato Institute. It states that as
government spending exceeds a certain percentage of GDP, the economy will
decline as a result. That number is subject to fierce debate among economists,
but it ranges from 15% to 25% of GDP.
[chart]
There are sound reasons for this idea, mainly that since government produces
nothing, the more it spends the less the private economy has to invest and
spend. This means less productivity. European countries are saddled with low
productivity, high taxes, and permanently high unemployment. Further, they are
facing the same demographic issues that we find in the US: a graying (and
declining) population. Their welfare systems are in trouble now, and as
Margaret Thatcher famously warned about socialism, they are finding that
eventually you really do run out of other people’s money.
What does this mean for America and S&P? It means we are likely to
experience a downgrade in our sovereign debt at some point in the future. Don’t
ask me to predict when this will happen. There are too many “what ifs.” A
downgrade means that there will be less money available to the government for
its programs. It means that debt service costs will rise. It means the Treasury
will find it more difficult to place US debt. It means that many holder of our
debt will try to unload their positions (it won’t be easy for them). It means
the Fed will likely acquire more Treasurys, effectively monetizing the debt and
this monetary inflation will lead to price inflation. It means that the dollar
will decline further. It means there will be pressure on the government to
raise taxes further. It also means that inflation will be employed as an
additional tool of fiscal policy as rising prices (actually devalued dollars)
will allow the government to repay debt with cheaper dollars.
It will also mean that we will be closer to the European ideal and farther away
from american exceptionalism. The very long-term consequences of this cannot be
known, but it won’t be good for america…’
(Washington
Post) Public workers’ retirement funds
had a gap of $1.26 trillion at the end of fiscal 2009, a report says.
Study:
Affordable rentals scarce
(Washington Post) Share of
renters who spend more than half their income on housing is at its highest
level in half a century.
Poll:
For Obama, low marks on Afghan war (Washington Post) More Americans disapprove of President
Obama’s management of the war in Afghanistan than support it, according to a
new Washington Post-ABC News poll, a finding that reflects the public’s broader
concern over the course of the nearly decade-old conflict.
Fuel
prices cut into Obama popularity
(Washington Post) As gas prices
bite into household incomes, Obama’s support takes a hit, according to new
poll. The high fuel price dynamic is the
slow / now faster motion, long predicted hyperinflationary consequence of
failed fed, administration, congressional economic / financial / fiscal policy
that essentially has been interposed for the (short-term particularly) benefit
of the frauds on wall street (The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed), and have used the mideast turmoil to obfuscate their
failure… an
especially great opportunity to sell / take profits while you still can since
there's much worse to come! America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued …only
time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Return of Inflation: 5 Worrying Signs From Friday's NY Times
Gerson:
How serious are we about the deficit? (Washington Post) [ Not too! I mean come on! Davis ‘… This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and
you have to laugh) is to see Conservative pundits get on TV and talk about how
we need to cut $100Bn worth of discretionary spending to "fix" this
(while continuing to spend $1Tn on the military and $1Tn on tax cuts for the
top 1% each year). There is no fixing this and even a Republican said you can’t
fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘On Thursday April 21,
2011, 1:32 pm EDT And here comes the first indicator that Q2 GDP is
about to be mass revised by everyone, courtesy of Japan, and ongoing inflation
pressures: the Philadelphia Fed collapsed from a revised 43.4 (a 27 year high)
to 18.5, the lowest since November 2010… This is an especially great opportunity to sell / take profits
while you still can since there's much worse to come!
National
security shake-up expected
(Washington Post) [ Shake-up? I
don’t think so. There may have been a time when a such changes, be it
personnel, policy, etc., might as per the following reference be slight
exaggeration; but no more, as all such now is literally a rearrangement of the
deck chairs on the uss Titanic. Nothing succeeds quite like failure in america
these days! Poll:
Egyptians skeptical about U.S.
Egyptians have an unfavorable view of the U.S., but they are also
divided over Islamic fundamentalists. (Washington Post) [ Hey! … Guess what? … americans and the rest
of the world (except zionist israel, zionists, and old biddy britain) are
skeptical and have an unfavorable view of america. The Economic Collapse: 24 more signs of economic decline in America…
#1 On Monday, S&P altered its outlook on U.S.
government debt from “stable” to “negative” ..at the rest of the world is
losing faith in the U.S. dollar and in U.S. Treasuries.
#2 China has
announced reducing their holdings of U.S. dollar
#3 .. “panic
dollar selling is setting in” and U.S. dollar in for a huge decline.
#4 The biggest bond fund in the world, PIMCO, is now shorting U.S. government bonds.
#5 Bad economy is causing “ghost towns” to appear all
across the U.S..
#6 There are now about 7.25
million less jobs in America than when the recession began back in 2007.
#7 The average American family is having a really tough time
- Only 45.4% of Americans had a job during 2010. .
#8 Only 66.8% of American men had a job last year-
lowest level ever ..
#9 Avg CEO made 343 times more money than the
average American
#10 Gas prices five dollars per gallon at gas stations.. $6 gas soon
#11 .. 12 months the average price of gasoline in the US
has gone up by
about 30%.
#12 Due to rising fuel prices, American Airlines lost a staggering $436 million during first qtr 2011.
#13 U.S. households now receiving more from the US gov’t
than
they are paying to the government in taxes.
#14 1 of 4
dollars that the U.S. govt borrows goes to pay the interest on the national debt.
#15 Total home mortgage debt in the United States is
now about
5 times larger than it was just 20 years ago.
#16 Total credit card debt in u.s. more than 8 times larger
than 30 yrs ago.
#17 Avg household debt in the United States has
now reached a level of 136% of avg household income. In China, avg
household debt is only 17% of avg household income.
#18 Avg American spends approximately 23 percent
.. on food and gas.
#19 .. 74 percent of u.s. said that they
planned to slow down their spending
#20 59 percent u.s. receive money from the
govt ..
#21 avg length of unemployment in the U.S. is now an
all-time record 39 weeks.
#22 u.s. random acts of violence”…
#23 Americans are
popping
the gold teeth right out of their mouths / selling them to pawn shops.
#24 ..u.s. people gobbling up larger and larger amounts
of antidepressants / other drugs. ..’ ]
Approval of Congress at 9%
Rasmussen Reports |
Nine percent (9%) now say Congress is doing a good.
More
Democrats defiant on debt ceiling (Washington Post) Lawmakers are pushing back against the White
House, joining the GOP in calling for deficit reductions as a condition for
lifting the $14.3 trillion ceiling. [ Ah yes, ‘The Defiant Ones’… principled to
the end … Gerson:
How serious are we about the deficit? (Washington Post) [ Not too! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘On Thursday April 21,
2011, 1:32 pm EDT And here comes the first indicator that Q2 GDP is
about to be mass revised by everyone, courtesy of Japan, and ongoing inflation
pressures: the Philadelphia Fed collapsed from a revised 43.4 (a 27 year high)
to 18.5, the lowest since November 2010… This is an especially great opportunity to sell / take profits
while you still can since there's much worse to come!
The Economic
Collapse: 24 more signs of economic
decline in America…
#1 On Monday, S&P altered its outlook on U.S.
government debt from “stable” to “negative” ..at the rest of the world is
losing faith in the U.S. dollar and in U.S. Treasuries.
#2 China has
announced reducing their holdings of U.S. dollar
#3 .. “panic
dollar selling is setting in” and U.S. dollar in for a huge decline.
#4 The biggest bond fund in the world, PIMCO, is now shorting U.S. government bonds.
#5 Bad economy is causing “ghost towns” to appear all
across the U.S..
#6 There are now about 7.25
million less jobs in America than when the recession began back in 2007.
#7 The average American family is having a really tough time
- Only 45.4% of Americans had a job during 2010. .
#8 Only 66.8% of American men had a job last year-
lowest level ever ..
#9 Avg CEO made 343 times more money than the
average American
#10 Gas prices five dollars per gallon at gas stations.. $6 gas soon
…11-24…]
Key
Afghan aid programs delayed
(Washington Post) [ Strategy? Critical time? Seems we’ve heard that song
before. And, yet another nation and innocent lives destroyed for no good reason
… and, pervasively corrupt and defacto bankrupt america … winning hearts and
minds …NOT! … Petraeus
to helm more-militarized CIA
(Washington Post) [ I personally unequivocally believe there has already
been a defacto coup d’etat in america. Drudgereport: Pentagon
Warns Obama Against Deeper Defense Cuts ... (And where is it going to come from
... we've already had in pervasively corrupt, defacto bankrupt, war crimes
nation america a defacto coup d'etat) ... Ron
Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul
says the CIA has has in effect carried out a “coup” against the US government,
and the intelligence agency needs to be “taken out.” I also personally
believe there has been a defacto coup d’etat which has manifested in
various substantial, blatant, brazened frauds, ie., wall street, missing 360
tons of $100 bills in Iraq, war profiteering, etc., without any fear of
prosecution, and of course concomitant decline for u.s. as the treasury is
looted. But I also believe its scope is beyond just the CIA with many complicit
within the corrupted 3 branches of u.s. government (fed judges, us attorneys,
illegal system, etc.) plus the military and private big money, ie., Goldman
Sachs / wall street men, etc… http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
… “torture taxis” –
used by the CIA to move captives seized in its kidnapping or “extraordinary
rendition” operations through Gatwick and other airports in the EU being
simultaneously used for drug distribution .. A Gulfstream II jet aircraft
N9875A identified by the British Government and the European Parliament as
being involved in this traffic crashed in Mexico…” In 2004, another torture
taxi crashed in a field in Nicaragua with a ton of cocaine aboard… Mexican soldiers
found ..132 bags containing 3.3 metric tons of cocaine. .. was one of the very
same planes chartered to the CIA for the rendition of suspected terrorists
prisoners…’]
Drudgereport: SF
CHRONICLE: WHITE HOUSE LYING Update: In a pants-on-fire moment, the White House press office today denied anyone there had issued threats to remove
Carla Marinucci and possibly other Hearst reporters from the press pool
covering the President in the Bay Area.Chronicle editor Ward Bushee called the
press office on its fib: Sadly, we expected the White House
to respond in this manner based on our experiences yesterday. It is not a
truthful response. It follows a day of off-the-record exchanges with key people
in the White House communications office who told us they would remove our
reporter, then threatened retaliation to Chronicle and Hearst reporters if we
reported on the ban, and then recanted to say our reporter might not be removed
after all.The Chronicle's
report is accurate…’Read more: http://www.sfgate.com/cgi-bin/blogs/bronstein/detail?entry_id=87978#ixzz1Kzv7asG6
PUMP
PRICES JUMP ON TIGHTENING SUPPLIES...
Romney
blames Obama...
MORE
RECORD PROFITS...
Gold
Surges to All-time Record...
Dollar
reaches three-year low...
Losing
to the Loonie...
China
divesting...
NO
JOKE: Superman to renounce U.S. citizenship...
Storm
death over 300
in South...
Deadliest
Swarm of Twisters Since 1974...
Among
Largest, Strongest Ever Recorded...
ECONOMY
SLOWS, INFLATION GROWS...
Doubt
cast on recovery...
Dollar
drops to lowest since 2008...
Investors
flee greenback; silver hits all-time high, gold sets new record...
GALLUP:
U.S. confidence plunges, only 27% say economy is growing...
WAL-MART:
Our shoppers are 'running out of money'...
JOBLESS
CLAIMS 429,000...
CBS
ANCHOR SCHIEFFER: Trump is racist...
TRUMP
TO GIBBS: YOU'RE 'A LOSER' [‘Another trumped-up case of the pot calling the
kettle black’]... TRUMP: Obama
Not Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically,
Donald with the mantra, ‘you’re a killer, you’re a king’ in film noir
melodramatic fashion which proved too much for the more balanced and ‘chosen /
favored’ elder brother trump who committed suicide. The old man also required
trump to go to prep / military / boarding school where according to a
classmate, Ted Levine, trump used to wet / pee in his bed. ) vegetable garden in the same manner as
dumbya bush … mobster trump and people like trump are part of the problem
(total b*** s***, fraud, etc., as in his home turf, mob-infested sinkholes,
jersey / new york), not the solution. Indeed, trump is an interesting mental
case in that he evolved from narcissist (those inflated grandiose moods coupled
with feelings of inferiority – he loved to obsessively read those hitler
speeches for inspiration and to pump himself up according to Ivana Trump) to
severe case of antisocial personality disorder [ predatory disregard for and
violation of the rights of others – hence, those sophomoric soundbite solutions
to complex problems as, ie., taking oil fields(Libya), 25% tariff on Chinese
(actually including american goods made in China), drug money laundering in his
casinos, bribery, etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
In a rational nation that
wasn’t in decline as pervasively corrupt, defacto bankrupt america, trump and
sister Maryanne would both be in prison.
'Terrible
student,' not good enough for Harvard... Biden daughter
trashes Trump...
Bill Cosby slams: 'He's
full of it!'...
Trump
Takes On NYT, Gail Collins...
Admires
her for surviving 'so long with so little talent'...
NBCWSJ
POLL SHOCK: TRUMP #2 GOP [ NBC
where t_rump has his Jerry Springer
derivative shock-jock show and sinkhole new york's fraud street journal … poll?
… Don't make me laugh … Lawrence O'Donnell insists parent company NBC consider
firing Donald Trump Daily
Caller ... Milbank: Donald
trumps CPAC | Gibbs
gone (Washington
Post) [ Trump’s a loser, dressed up and
propped up by and to shill for a declining, fallen nation in the most corrupt
regions (ie., new york, jersey, etc.) of the country (every fallen nation has
such); of that there is no question …"Over the years I've participated in
many battles and have really almost come out very, very victorious every single
time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s
never won a battle that wasn’t fixed in advance (including the ‘pre-packaged
bankrupcies’ crammed down the throats of objecting creditors – jersey general ]
He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve
Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people
and companies, and I've won many wars," he added. (Though he didn't serve
in the military.) "I have fairly [according to mobster rules; ie.,
bribery, money laundering, etc.] but intelligently [ as any other mob boss …
trump is total b*** s***, a fraud, and lightweight … and, despite the façade,
quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of
american decline and part of the problem, not the solution! …trump also said
america’s become the laughingstock of the world … true enough … and trump the
biggest joke … NEWS FLASH: Direct from Lost Angeles
Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now
caleefornia mob fame with his continuing message for the past several years:
buy real estate (and watch the values go down…..riiiiight!).
Bank
sues Trump over Chicago tower loan...
Trump
casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal
Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With
Employee Killed – What else would you you expect from a mobster’s casino in
mob-infested jersey!
Trump luxury resort
folds, leaving buyers defrauded…litigation has commenced…send for sister
maryanne, the corrupt federal judge to preside, coverup, etc., she’s in
n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud
and handles her own motions to recuse her and like mobster trump should be in
jail ... (see RICO Case)] earned many billions of dollars
[ at whose expense ], which in a sense was both a scorecard and acknowledgment
of my abilities [ to fool most of the people, all of the time. ] ." TRUMP
DRAWS CHEERS, BOOS AT CONSERVATIVE CONFERENCE... PONDERING
PRESIDENTIAL RUN... [Don’t make me laugh! … Donald
T_rump Would Impose 25% Tax on China Imports if President [
trump also said america’s become the laughingstock of the world … true
enough … and trump the biggest joke … Indeed, that trump even posits the
possibility of a run when he should be in jail is a testament to just how big a
laughingstock pervasively corrupt, defacto bankrupt america’s become! [ If he was mobster in chief, mobster and
scoundrel trump wraps himself in populist american flag and offers up an (too
little too late – typical lightweight) implausible solution to keep ‘the juice’
flowing though he’d already be in jail in a rational, non-declining nation with
meaningful laws. All China has to do is dump (and not prospectively buy) their
ever more and declining in value day-by-day (from dollar debasement policies)
u.s. paper / bonds and overnight and the u.s. economy consequently thereby collapse. [ When you come right down
to it, this has been america’s most significant export. Indeed, this
irrevocable structural shift, hailed by cia men hw bush and clinton (clinton
couldn’t have survived with them) by way of NAFTA as the greatest thing since sliced bread was indeed in no
uncertain terms condemned and warned against by Perot, a man of honor who,
unlike his opponents, could not be bought, which is the reason, in pervasively
corrupt america, he could never have been elected. Interestingly, you may have
noticed the good (but not great, other than the spotlight on pervasive bribery
including judges, police, politicians, etc., being far too light) the film ‘The
Untouchables’ getting a wide re-airing of late, purporting to be a significant
part of american folklore / history / culture. However, the reality is that in
america, and certainly today, the real story with impact is that of ‘The
Touchables’. The reality is that Elliot Ness died a broken man; bankrupt, unable
to even win election to the mayoralty of his then current hometown. He was
incorruptible; and hence, in the real america, unelectable at the least if not
also all but unemployable (he and his are among those few genetic anomalies in
america as I’ve previously alluded to. How far america has fallen from even
false perception! Pervasively corrupt, meaningfully lawless america can’t even
fake it anymore. See, for example, http://albertpeia.com/CIAAgentAffidavit1.jpg http://albertpeia.com/FBIAgentAffidavit11.jpg , and of course, corrupt
legal / judicial processes, etc., Defacto bankrupt, fraudulent america also spends more on
offensive (defensive a misnomer / propaganda) military spending than all the
nations of the world combined, and by a large margin at that. Do you see a
pattern emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
… The pervasively corrupt
american illegal system … corrupt u.s. courts / (lawyers) / judges: Their
lifetime plush appointments should be abolished, which corrupt entities are
unheard of in productive societies as China, Japan, etc.. Time to abolish these
drags on society and eliminate their lifetime stipends and costly
bureaucracies. Rules of law mean nothing to these typically corrupt americans.
Most, including sam alito of the u.s. supreme court, concerning drug
money laundering and obstruction of justice in the 3rd circuit (
also maryanne trump barry who covered-up drug money laundering through her
brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it
for the money, personal money, big, cash, untraceable money. The fog of war is
great for such things (360 tons $100 bills flown into Iraq and missing, etc.). [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt
nation. ] “I would announce, without
equivocation, a 25% tax increase on anything purchased from China.” ]
Economy
grows, but slows (Washington Post)
Economic growth slowed at the start of the year, weighed down by higher
oil prices and lower government spending, according to new data. [ At what cost for that ‘slow growth’, if
any. They’re dreamin’!
Fed
Chairman Bernanke does reality TV
(Washington Post) [ Except the ‘NO-RECESSION HELICOPTER BEN B.S.
BERNANKE’ show is scripted unreality … even with his reduction in estimate for
‘economic growth’, the frauds on wall street still rallied. Bernanke
prepares to make history (Washington
Post) [ He already has! $6 gas acomin’,
$1,508+ gold, $46+ silver, other commodities at record levels, hyperinflation
as predicted well on the way from over-printing of fiat paper currency by fed
as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
·
The extended
(and then further extended) unemployment benefits have kept an artificially
higher demand for consumer consumption. As a result, the US government has
artificially subsidized corporate profits.
·
The billions
saved through “free loading” by homeowners who have defaulted on their
mortgages yet maintained their residence, thus living without a mortgage
payment.
·
The
artificially suppressed interest rates...
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
ATTENTION: REPORTERS – HIP BOOTS MANDATORY, WADERS
RECOMMENDED SINCE YOU’LL BE AT LEAST KNEE-DEEP IN ‘NO-RECESSION HELICOPTER BEN
B.S. BERNAKE’ B*** S***! ] On Wednesday,
he will be the first Fed chairman to take on-the-record questioning from the
media.
]
]
More
Democrats defiant on debt ceiling (Washington Post) Lawmakers are pushing back against the White
House, joining the GOP in calling for deficit reductions as a condition for
lifting the $14.3 trillion ceiling. [ Ah yes, ‘The Defiant Ones’… principled to
the end … Gerson:
How serious are we about the deficit? (Washington Post) [ Not too! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘On Thursday April 21,
2011, 1:32 pm EDT And here comes the first indicator that Q2 GDP is
about to be mass revised by everyone, courtesy of Japan, and ongoing inflation
pressures: the Philadelphia Fed collapsed from a revised 43.4 (a 27 year high)
to 18.5, the lowest since November 2010… This is an especially great opportunity to sell / take profits
while you still can since there's much worse to come!
The Economic
Collapse: 24 more signs of economic
decline in America…
#1 On Monday, S&P altered its outlook on U.S.
government debt from “stable” to “negative” ..at the rest of the world is
losing faith in the U.S. dollar and in U.S. Treasuries.
#2 China has
announced reducing their holdings of U.S. dollar
#3 .. “panic
dollar selling is setting in” and U.S. dollar in for a huge decline.
#4 The biggest bond fund in the world, PIMCO, is now shorting U.S. government bonds.
#5 Bad economy is causing “ghost towns” to appear all
across the U.S..
#6 There are now about 7.25
million less jobs in America than when the recession began back in 2007.
#7 The average American family is having a really tough time
- Only 45.4% of Americans had a job during 2010. .
#8 Only 66.8% of American men had a job last year-
lowest level ever ..
#9 Avg CEO made 343 times more money than the
average American
#10 Gas prices five dollars per gallon at gas stations.. $6 gas soon …11-24…]
Key
Afghan aid programs delayed
(Washington Post) [ Strategy? Critical time? Seems we’ve heard that song
before. And, yet another nation and innocent lives destroyed for no good reason
… and, pervasively corrupt and defacto bankrupt america … winning hearts and
minds …NOT! … Petraeus
to helm more-militarized CIA
(Washington Post) [ I personally unequivocally believe there has already
been a defacto coup d’etat in america. Drudgereport: Pentagon
Warns Obama Against Deeper Defense Cuts ... (And where is it going to come from
... we've already had in pervasively corrupt, defacto bankrupt, war crimes
nation america a defacto coup d'etat) ... Ron
Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul
says the CIA has has in effect carried out a “coup” against the US government,
and the intelligence agency needs to be “taken out.” I also personally
believe there has been a defacto coup d’etat which has manifested in
various substantial, blatant, brazened frauds, ie., wall street, missing 360
tons of $100 bills in Iraq, war profiteering, etc., without any fear of
prosecution, and of course concomitant decline for u.s. as the treasury is
looted. But I also believe its scope is beyond just the CIA with many complicit
within the corrupted 3 branches of u.s. government (fed judges, us attorneys,
illegal system, etc.) plus the military and private big money, ie., Goldman
Sachs / wall street men, etc… http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
… “torture taxis” –
used by the CIA to move captives seized in its kidnapping or “extraordinary
rendition” operations through Gatwick and other airports in the EU being
simultaneously used for drug distribution .. A Gulfstream II jet aircraft
N9875A identified by the British Government and the European Parliament as
being involved in this traffic crashed in Mexico…” In 2004, another torture
taxi crashed in a field in Nicaragua with a ton of cocaine aboard… Mexican
soldiers found ..132 bags containing 3.3 metric tons of cocaine. .. was one of
the very same planes chartered to the CIA for the rendition of suspected
terrorists prisoners…’]
Disappointing
First Quarter GDP Growth (Stocks rally on the bad news!) (The advance
estimate for Q1 GDP came in at 1.8 percent — a sharp decline from last
quarter’s 3.1 – and worse than expected)
Weekly
Unemployment Claims Back Above This Scary Line (Stocks rally on the bad
news!) Short ‘On Thursday April 28, 2011, The
Department of Labor’s Unemployment Insurance Weekly Claims Report was released
this morning for last week. Claims rose 25,000 from an upward revision of the
previous week to 429,000. The 4-week moving average increased by 2.3%. Here is
the official statement from the Department of Labor:
In the week ending April
23, the advance figure for seasonally adjusted initial claims was 429,000, an
increase of 25,000 from the previous week’s revised figure of 404,000. The
4-week moving average was 408,500, an increase of 9,250 from the previous
week’s revised average of 399,250.
The advance seasonally
adjusted insured unemployment rate was 2.9 percent for the week ending April
16, a decrease of 0.1 percentage point from the prior week’s revised rate of
3.0 percent.
The advance number for
seasonally adjusted insured unemployment during the week ending April 16 was
3,641,000, a decrease of 68,000 from the preceding week’s revised level of
3,709,000. The 4-week moving average was 3,697,750, a decrease of 22,750 from
the preceding week’s revised average of 3,720,500.
Today’s number was 10%
higher than the Briefing.com consensus expectation of 390,000 claims.
As we can see, there’s a
good bit of volatility in this indicator, which is why the 4-week moving
average (shown in the callouts) is a more useful number than the weekly data.
http://dshort.com/charts/weekly-unemployment-claims-charts.html?weekly-unemployment-claims
Occasionally I see
articles critical of seasonal adjustment, especially when the non-adjusted
number better suits the author’s bias. But a comparison of these two charts
clearly shows extreme volatility of the non-adjusted data, and the 4-week MA
gives an indication of the recurring pattern of seasonal change in the second
chart (note, for example, those regular January spikes).
http://dshort.com/charts/weekly-unemployment-claims-charts.html?weekly-unemployment-claims-NSA
Because of the extreme
volatility of the non-adjusted weekly data, a 52-week moving average gives a
better sense of the long-term trends.
http://dshort.com/charts/weekly-unemployment-claims-charts.html?weekly-unemployment-claims-NSA-52-ma
The Bureau of Labor
Statistics provides an overview on seasonal adjustment here (scroll down about
half way down).
Doug Short Ph.d is the author
of dshort.com.’
Trump faces scrutiny over donations, merch made in China (The
Ticket)
Dollar Loses More Ground
WSJ | The dollar
dropped after economic indicators pointed to a dismal employment picture and
slowing economic growth.
Gerson:
How serious are we about the deficit? (Washington Post) [ Not too! I mean come on! Davis ‘… This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits
it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire
global GDP) in the form of unfunded liabilities. The funniest thing about this
(and you have to laugh) is to see Conservative pundits get on TV and talk about
how we need to cut $100Bn worth of discretionary spending to "fix"
this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for
the top 1% each year). There is no fixing this and even a Republican said you
can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL
OUT THERE! ‘ … Suckers’
rally to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘On Thursday April 21,
2011, 1:32 pm EDT And here comes the first indicator that Q2 GDP is
about to be mass revised by everyone, courtesy of Japan, and ongoing inflation
pressures: the Philadelphia Fed collapsed from a revised 43.4 (a 27 year high)
to 18.5, the lowest since November 2010… This is an especially great opportunity to sell / take profits
while you still can since there's much worse to come!
The Economic
Collapse: 24 more signs of economic
decline in America…
#1 On Monday, S&P altered its outlook on U.S.
government debt from “stable” to “negative” ..at the rest of the world is
losing faith in the U.S. dollar and in U.S. Treasuries.
#2 China has
announced reducing their holdings of U.S. dollar
#3 .. “panic
dollar selling is setting in” and U.S. dollar in for a huge decline.
#4 The biggest bond fund in the world, PIMCO, is now shorting U.S. government bonds.
#5 Bad economy is causing “ghost towns” to appear all
across the U.S..
#6 There are now about 7.25
million less jobs in America than when the recession began back in 2007.
#7 The average American family is having a really tough time
- Only 45.4% of Americans had a job during 2010. .
#8 Only 66.8% of American men had a job last year-
lowest level ever ..
#9 Avg CEO made 343 times more money than the
average American
#10 Gas prices five dollars per gallon at gas stations.. $6 gas soon …
Fed
Chairman Bernanke does reality TV
(Washington Post) [ Except the ‘NO-RECESSION HELICOPTER BEN B.S.
BERNANKE’ show is scripted unreality … even with his reduction in estimate for
‘economic growth’, the frauds on wall street still rallied. Bernanke
prepares to make history (Washington
Post) [ He already has! $6 gas acomin’,
$1,508+ gold, $46+ silver, other commodities at record levels, hyperinflation
as predicted well on the way from over-printing of fiat paper currency by fed
as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
·
The extended
(and then further extended) unemployment benefits have kept an artificially
higher demand for consumer consumption. As a result, the US government has
artificially subsidized corporate profits.
·
The billions
saved through “free loading” by homeowners who have defaulted on their
mortgages yet maintained their residence, thus living without a mortgage
payment.
·
The
artificially suppressed interest rates...
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
ATTENTION: REPORTERS – HIP BOOTS MANDATORY, WADERS
RECOMMENDED SINCE YOU’LL BE AT LEAST KNEE-DEEP IN ‘NO-RECESSION HELICOPTER BEN
B.S. BERNAKE’ B*** S***! ] On Wednesday,
he will be the first Fed chairman to take on-the-record questioning from the
media.
24 Signs Of
Economic Decline In America ‘The United States is in the middle of a
devastating long-term economic decline and it is getting really hard to deny
it. ..’ ] States
face shortfall for retirees (Washington Post) Public workers’ retirement funds had a gap
of $1.26 trillion at the end of fiscal 2009, a report says.
Study:
Affordable rentals scarce
(Washington Post) Share of
renters who spend more than half their income on housing is at its highest
level in half a century.
Poll:
For Obama, low marks on Afghan war (Washington Post) More Americans disapprove of President
Obama’s management of the war in Afghanistan than support it, according to a
new Washington Post-ABC News poll, a finding that reflects the public’s broader
concern over the course of the nearly decade-old conflict.
Fuel
prices cut into Obama popularity
(Washington Post) As gas prices
bite into household incomes, Obama’s support takes a hit, according to new
poll. The high fuel price dynamic is the
slow / now faster motion, long predicted hyperinflationary consequence of
failed fed, administration, congressional economic / financial / fiscal policy
that essentially has been interposed for the (short-term particularly) benefit
of the frauds on wall street (The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed), and have used the mideast turmoil to obfuscate their
failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Return of Inflation: 5 Worrying Signs From Friday's NY Times
National
security shake-up expected
(Washington Post) [ Shake-up? I
don’t think so. There may have been a time when a such changes, be it
personnel, policy, etc., might as per the following reference be slight
exaggeration; but no more, as all such now is literally a rearrangement of the
deck chairs on the uss Titanic. Nothing succeeds quite like failure in america
these days! Poll:
Egyptians skeptical about U.S.
Egyptians have an unfavorable view of the U.S., but they are also
divided over Islamic fundamentalists. (Washington Post) [ Hey! … Guess what? … americans and the rest
of the world (except zionist israel, zionists, and old biddy britain) are skeptical
and have an unfavorable view of america. The Economic Collapse: 24 more signs of economic decline in America…
#1 On Monday, S&P altered its outlook on U.S.
government debt from “stable” to “negative” ..at the rest of the world is
losing faith in the U.S. dollar and in U.S. Treasuries.
#2 China has
announced reducing their holdings of U.S. dollar
#3 .. “panic
dollar selling is setting in” and U.S. dollar in for a huge decline.
#4 The biggest bond fund in the world, PIMCO, is now shorting U.S. government bonds.
#5 Bad economy is causing “ghost towns” to appear all
across the U.S..
#6 There are now about 7.25
million less jobs in America than when the recession began back in 2007.
#7 The average American family is having a really tough time
- Only 45.4% of Americans had a job during 2010. .
#8 Only 66.8% of American men had a job last year-
lowest level ever ..
#9 Avg CEO made 343 times more money than the
average American
#10 Gas prices five dollars per gallon at gas stations.. $6 gas soon
#11 .. 12 months the average price of gasoline in the US
has gone up by
about 30%.
#12 Due to rising fuel prices, American Airlines lost a staggering $436 million during first qtr 2011.
#13 U.S. households now receiving more from the US gov’t
than
they are paying to the government in taxes.
#14 1 of 4
dollars that the U.S. govt borrows goes to pay the interest on the national debt.
#15 Total home mortgage debt in the United States is
now about
5 times larger than it was just 20 years ago.
#16 Total credit card debt in u.s. more than 8 times larger
than 30 yrs ago.
#17 Avg household debt in the United States has
now reached a level of 136% of avg household income. In China, avg
household debt is only 17% of avg household income.
#18 Avg American spends approximately 23 percent
.. on food and gas.
#19 .. 74 percent of u.s. said that they
planned to slow down their spending
#20 59 percent u.s. receive money from the
govt ..
#21 avg length of unemployment in the U.S. is now an
all-time record 39 weeks.
#22 u.s. random acts of violence”…
#23 Americans are
popping
the gold teeth right out of their mouths / selling them to pawn shops.
#24 ..u.s. people gobbling up larger and larger amounts
of antidepressants / other drugs. ..’ ]
…“Evidence points to
aircraft – familiarly known as “torture taxis” – used by the CIA to move
captives seized in its kidnapping or “extraordinary rendition” operations
through Gatwick and other airports in the EU being simultaneously used for drug
distribution .. A Gulfstream II jet aircraft N9875A identified by the British
Government and the European Parliament as being involved in this traffic
crashed in Mexico…” In 2004, another torture taxi crashed in a field in
Nicaragua with a ton of cocaine aboard… Mexican soldiers found ..132 bags
containing 3.3 metric tons of cocaine. .. was one of the very same planes
chartered to the CIA for the rendition of suspected terrorists prisoners…’]
Drudgereport: NO
JOKE: Superman to renounce U.S. citizenship...
Storm
death near 300
in South...
Deadliest
Swarm of Twisters Since 1974...
Among
Largest, Strongest Ever Recorded...
ECONOMY
SLOWS, INFLATION GROWS...
Doubt
cast on recovery...
Dollar
drops to lowest since 2008...
Investors
flee greenback; silver hits all-time high, gold sets new record...
GALLUP:
U.S. confidence plunges, only 27% say economy is growing...
WAL-MART:
Our shoppers are 'running out of money'...
JOBLESS
CLAIMS 429,000...
CBS
ANCHOR SCHIEFFER: Trump is racist...
TRUMP
TO GIBBS: YOU'RE 'A LOSER' [‘Another trumped-up case of the pot calling the
kettle black’]... TRUMP: Obama
Not Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically,
Donald with the mantra, ‘you’re a killer, you’re a king’ in film noir
melodramatic fashion which proved too much for the more balanced and ‘chosen /
favored’ elder brother trump who committed suicide. The old man also required
trump to go to prep / military / boarding school where according to a
classmate, Ted Levine, trump used to wet / pee in his bed. ) vegetable garden in the same manner as dumbya
bush … mobster trump and people like trump are part of the problem (total b***
s***, fraud, etc., as in his home turf, mob-infested sinkholes, jersey / new
york), not the solution. Indeed, trump is an interesting mental case in that he
evolved from narcissist (those inflated grandiose moods coupled with feelings
of inferiority – he loved to obsessively read those hitler speeches for
inspiration and to pump himself up according to Ivana Trump) to severe case of
antisocial personality disorder [ predatory disregard for and violation of the
rights of others – hence, those sophomoric soundbite solutions to complex
problems as, ie., taking oil fields(Libya), 25% tariff on Chinese (actually
including american goods made in China), drug money laundering in his casinos,
bribery, etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
In a rational nation that
wasn’t in decline as pervasively corrupt, defacto bankrupt america, trump and
sister Maryanne would both be in prison.
'Terrible
student,' not good enough for Harvard... Biden
daughter trashes Trump...
Bill Cosby slams: 'He's
full of it!'...
Trump
Takes On NYT, Gail Collins...
Admires
her for surviving 'so long with so little talent'...
NBCWSJ
POLL SHOCK: TRUMP #2 GOP [ NBC
where t_rump has his Jerry Springer derivative
shock-jock show and sinkhole new york's fraud street journal … poll? … Don't
make me laugh … Lawrence O'Donnell insists parent company NBC consider
firing Donald Trump Daily
Caller ... Milbank: Donald
trumps CPAC | Gibbs
gone (Washington
Post) [ Trump’s a loser, dressed up and
propped up by and to shill for a declining, fallen nation in the most corrupt
regions (ie., new york, jersey, etc.) of the country (every fallen nation has
such); of that there is no question …"Over the years I've participated in
many battles and have really almost come out very, very victorious every single
time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s
never won a battle that wasn’t fixed in advance (including the ‘pre-packaged
bankrupcies’ crammed down the throats of objecting creditors – jersey general ]
He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve
Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people
and companies, and I've won many wars," he added. (Though he didn't serve
in the military.) "I have fairly [according to mobster rules; ie.,
bribery, money laundering, etc.] but intelligently [ as any other mob boss …
trump is total b*** s***, a fraud, and lightweight … and, despite the façade,
quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of
american decline and part of the problem, not the solution! …trump also said
america’s become the laughingstock of the world … true enough … and trump the
biggest joke … NEWS FLASH: Direct from Lost Angeles
Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now
caleefornia mob fame with his continuing message for the past several years:
buy real estate (and watch the values go down…..riiiiight!).
Bank
sues Trump over Chicago tower loan...
Trump
casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal
Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With
Employee Killed – What else would you you expect from a mobster’s casino in
mob-infested jersey!
Trump luxury resort
folds, leaving buyers defrauded…litigation has commenced…send for sister
maryanne, the corrupt federal judge to preside, coverup, etc., she’s in
n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud
and handles her own motions to recuse her and like mobster trump should be in
jail ... (see RICO Case)] earned many billions of dollars
[ at whose expense ], which in a sense was both a scorecard and acknowledgment
of my abilities [ to fool most of the people, all of the time. ] ." TRUMP
DRAWS CHEERS, BOOS AT CONSERVATIVE CONFERENCE... PONDERING
PRESIDENTIAL RUN... [Don’t make me laugh! … Donald
T_rump Would Impose 25% Tax on China Imports if President [
trump also said america’s become the laughingstock of the world … true
enough … and trump the biggest joke … Indeed, that trump even posits the
possibility of a run when he should be in jail is a testament to just how big a
laughingstock pervasively corrupt, defacto bankrupt america’s become! [ If he was mobster in chief, mobster and
scoundrel trump wraps himself in populist american flag and offers up an (too
little too late – typical lightweight) implausible solution to keep ‘the juice’
flowing though he’d already be in jail in a rational, non-declining nation with
meaningful laws. All China has to do is dump (and not prospectively buy) their
ever more and declining in value day-by-day (from dollar debasement policies)
u.s. paper / bonds and overnight and the u.s. economy consequently thereby collapse. [ When you come right down
to it, this has been america’s most significant export. Indeed, this
irrevocable structural shift, hailed by cia men hw bush and clinton (clinton
couldn’t have survived with them) by way of NAFTA as the greatest thing since sliced bread was indeed in no
uncertain terms condemned and warned against by Perot, a man of honor who,
unlike his opponents, could not be bought, which is the reason, in pervasively
corrupt america, he could never have been elected. Interestingly, you may have
noticed the good (but not great, other than the spotlight on pervasive bribery
including judges, police, politicians, etc., being far too light) the film ‘The
Untouchables’ getting a wide re-airing of late, purporting to be a significant
part of american folklore / history / culture. However, the reality is that in
america, and certainly today, the real story with impact is that of ‘The
Touchables’. The reality is that Elliot Ness died a broken man; bankrupt,
unable to even win election to the mayoralty of his then current hometown. He
was incorruptible; and hence, in the real america, unelectable at the least if
not also all but unemployable (he and his are among those few genetic anomalies
in america as I’ve previously alluded to. How far america has fallen from even
false perception! Pervasively corrupt, meaningfully lawless america can’t even
fake it anymore. See, for example, http://albertpeia.com/CIAAgentAffidavit1.jpg http://albertpeia.com/FBIAgentAffidavit11.jpg , and of course, corrupt
legal / judicial processes, etc., Defacto bankrupt, fraudulent america also spends more on
offensive (defensive a misnomer / propaganda) military spending than all the
nations of the world combined, and by a large margin at that. Do you see a
pattern emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
… The pervasively corrupt
american illegal system … corrupt u.s. courts / (lawyers) / judges: Their
lifetime plush appointments should be abolished, which corrupt entities are
unheard of in productive societies as China, Japan, etc.. Time to abolish these
drags on society and eliminate their lifetime stipends and costly
bureaucracies. Rules of law mean nothing to these typically corrupt americans.
Most, including sam alito of the u.s. supreme court, concerning drug
money laundering and obstruction of justice in the 3rd circuit (
also maryanne trump barry who covered-up drug money laundering through her
brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it
for the money, personal money, big, cash, untraceable money. The fog of war is
great for such things (360 tons $100 bills flown into Iraq and missing, etc.). [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt
nation. ] “I would announce, without
equivocation, a 25% tax increase on anything purchased from China.” ]
Fed Spin Lifts Stocks: Dave's Daily ‘It's a con plain and simple. I've bought
into it because I must. Overall we're long and will be until the jig's up.
Until then, I've advised subscribers for many months that our Lazy Portfolios
are the path to success as Fed policies steamroll most technical systems beyond
HFTs [high-frequency traders]. When it ends, and it will, it's back to business
as usual. Earnings have been good, especially for companies (MMM, KO, MCD and
etc.) where a weak dollar has led to grand overseas profits. Most of those
gains remain stashed abroad and will remain there until U.S. corporate tax
policy changes--a cold day in hell IMHO. Further, Fed policies have been
positive for financial engineering, M&A, corporate debt financings and
stock buybacks. This is the result of a sea of liquidity finding its way to
Wall Street which trickles down to S&P 500 companies. It leads to minimal
gains in U.S. employment as companies are stimulated to outsource work
overseas. It does not lift real estate prices off the deck either. The great
con remains current inflation, which Bernanke alluded to briefly in his
comments today. They cling to "core" inflation as their measure of
choice while we commoners who shop everyday for essentials know better. Turbo
Tim even had the nerve to say the other day high gas prices are something we'll
just "adjust to" and "won't hurt" the recovery. He has a
government car and driver. He also had the nerve to reiterate the necessity to
maintain a strong dollar. Yikes! The Fed expects GDP to grow between 3.1 and
3.3% this year. Thursday's GDP data may serve as a guide although expectations
are for a weaker report. It's been a strange week as the dollar continued to
slide, commodities rallied and stocks moved higher on ultra light volume.
As to the latter, where is everybody? Most retail investors are content
to hang on to their IRAs and 401Ks but they're still distrustful of markets.
From the data it seems they'd rather have a new car or TV which is something
they can trust. Current trading patterns remain dominated by HFTs whether from
institutional trading desks or hedge funds. This is the way we've rolled since
QE2 began...’
Is
the Market Crazy? [ Short answer: Yes! Fraudulently, criminally insane type
crazy! ]
Drudgereport: SPOOK
SHUFFLE: PETRAEUS TO CIA, PANETTA TO PENTAGON (americans-just a bunch of
spooks!)...
Afghan
officer fires on U.S. troops, kills 9 [american war criminals winning hearts
and minds]...
BERNANKE:
Here comes the inflation...
GOLD
RECORD -- AGAIN...
Banks Warn
Obama on Soaring Debt Problems...
Gasoline
futures jump 6 cents in one day...
TRUMP
TO GIBBS: YOU'RE 'A LOSER' [‘Another trumped-up case of the pot calling the
kettle black’]... TRUMP: Obama
Not Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically,
Donald with the mantra, ‘you’re a killer, you’re a king’ in film noir
melodramatic fashion which proved too much for the more balanced and ‘chosen /
favored’ elder brother trump who committed suicide. The old man also required
trump to go to prep / military / boarding school where according to a
classmate, Ted Levine, trump used to wet / pee in his bed. ) vegetable garden in the same manner as
dumbya bush … mobster trump and people like trump are part of the problem
(total b*** s***, fraud, etc., as in his home turf, mob-infested sinkholes,
jersey / new york), not the solution. Indeed, trump is an interesting mental
case in that he evolved from narcissist (those inflated grandiose moods coupled
with feelings of inferiority – he loved to obsessively read those hitler
speeches for inspiration and to pump himself up according to Ivana Trump) to
severe case of antisocial personality disorder [ predatory disregard for and
violation of the rights of others – hence, those sophomoric soundbite solutions
to complex problems as, ie., taking oil fields(Libya), 25% tariff on Chinese
(actually including american goods made in China), drug money laundering in his
casinos, bribery, etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
In a rational nation that
wasn’t in decline as pervasively corrupt, defacto bankrupt america, trump and
sister Maryanne would both be in prison.
'Terrible
student,' not good enough for Harvard... Biden
daughter trashes Trump...
Bill Cosby slams: 'He's
full of it!'...
Trump
Takes On NYT, Gail Collins...
Admires
her for surviving 'so long with so little talent'...
NBCWSJ
POLL SHOCK: TRUMP #2 GOP [ NBC
where t_rump has his Jerry Springer
derivative shock-jock show and sinkhole new york's fraud street journal … poll?
… Don't make me laugh … Lawrence O'Donnell insists parent company NBC consider
firing Donald Trump Daily Caller
... Milbank: Donald
trumps CPAC | Gibbs
gone (Washington
Post) [ Trump’s a loser, dressed up and
propped up by and to shill for a declining, fallen nation in the most corrupt
regions (ie., new york, jersey, etc.) of the country (every fallen nation has
such); of that there is no question …"Over the years I've participated in
many battles and have really almost come out very, very victorious every single
time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s
never won a battle that wasn’t fixed in advance (including the ‘pre-packaged
bankrupcies’ crammed down the throats of objecting creditors – jersey general ]
He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve
Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people
and companies, and I've won many wars," he added. (Though he didn't serve
in the military.) "I have fairly [according to mobster rules; ie.,
bribery, money laundering, etc.] but intelligently [ as any other mob boss …
trump is total b*** s***, a fraud, and lightweight … and, despite the façade,
quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of
american decline and part of the problem, not the solution! …trump also said
america’s become the laughingstock of the world … true enough … and trump the
biggest joke … NEWS FLASH: Direct from Lost Angeles
Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now
caleefornia mob fame with his continuing message for the past several years:
buy real estate (and watch the values go down…..riiiiight!).
Bank
sues Trump over Chicago tower loan...
Trump
casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal
Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With
Employee Killed – What else would you you expect from a mobster’s casino in
mob-infested jersey!
Trump luxury resort
folds, leaving buyers defrauded…litigation has commenced…send for sister
maryanne, the corrupt federal judge to preside, coverup, etc., she’s in
n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud
and handles her own motions to recuse her and like mobster trump should be in
jail ... (see RICO Case)] earned many billions of dollars
[ at whose expense ], which in a sense was both a scorecard and acknowledgment
of my abilities [ to fool most of the people, all of the time. ] ." TRUMP
DRAWS CHEERS, BOOS AT CONSERVATIVE CONFERENCE... PONDERING
PRESIDENTIAL RUN... [Don’t make me laugh! … Donald
T_rump Would Impose 25% Tax on China Imports if President [
trump also said america’s become the laughingstock of the world … true
enough … and trump the biggest joke … Indeed, that trump even posits the
possibility of a run when he should be in jail is a testament to just how big a
laughingstock pervasively corrupt, defacto bankrupt america’s become! [ If he was mobster in chief, mobster and
scoundrel trump wraps himself in populist american flag and offers up an (too
little too late – typical lightweight) implausible solution to keep ‘the juice’
flowing though he’d already be in jail in a rational, non-declining nation with
meaningful laws. All China has to do is dump (and not prospectively buy) their
ever more and declining in value day-by-day (from dollar debasement policies)
u.s. paper / bonds and overnight and the u.s. economy consequently thereby collapse. [ When you come right down
to it, this has been america’s most significant export. Indeed, this
irrevocable structural shift, hailed by cia men hw bush and clinton (clinton
couldn’t have survived with them) by way of NAFTA as the greatest thing since sliced bread was indeed in no
uncertain terms condemned and warned against by Perot, a man of honor who,
unlike his opponents, could not be bought, which is the reason, in pervasively
corrupt america, he could never have been elected. Interestingly, you may have
noticed the good (but not great, other than the spotlight on pervasive bribery
including judges, police, politicians, etc., being far too light) the film ‘The
Untouchables’ getting a wide re-airing of late, purporting to be a significant
part of american folklore / history / culture. However, the reality is that in
america, and certainly today, the real story with impact is that of ‘The
Touchables’. The reality is that Elliot Ness died a broken man; bankrupt,
unable to even win election to the mayoralty of his then current hometown. He
was incorruptible; and hence, in the real america, unelectable at the least if
not also all but unemployable (he and his are among those few genetic anomalies
in america as I’ve previously alluded to. How far america has fallen from even
false perception! Pervasively corrupt, meaningfully lawless america can’t even
fake it anymore. See, for example, http://albertpeia.com/CIAAgentAffidavit1.jpg http://albertpeia.com/FBIAgentAffidavit11.jpg , and of course, corrupt
legal / judicial processes, etc., Defacto bankrupt, fraudulent america also spends more on
offensive (defensive a misnomer / propaganda) military spending than all the
nations of the world combined, and by a large margin at that. Do you see a
pattern emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
… The pervasively corrupt
american illegal system … corrupt u.s. courts / (lawyers) / judges: Their
lifetime plush appointments should be abolished, which corrupt entities are
unheard of in productive societies as China, Japan, etc.. Time to abolish these
drags on society and eliminate their lifetime stipends and costly
bureaucracies. Rules of law mean nothing to these typically corrupt americans.
Most, including sam alito of the u.s. supreme court, concerning drug
money laundering and obstruction of justice in the 3rd circuit (
also maryanne trump barry who covered-up drug money laundering through her
brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it
for the money, personal money, big, cash, untraceable money. The fog of war is
great for such things (360 tons $100 bills flown into Iraq and missing, etc.). [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt
nation. ] “I would announce, without
equivocation, a 25% tax increase on anything purchased from China.” ]
Bernanke
prepares to make history (Washington
Post) [ He already has! $6 gas acomin’,
$1,508+ gold, $46+ silver, other commodities at record levels, hyperinflation
as predicted well on the way from over-printing of fiat paper currency by fed
as predicted, etc., Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
·
The extended
(and then further extended) unemployment benefits have kept an artificially
higher demand for consumer consumption. As a result, the US government has
artificially subsidized corporate profits.
·
The billions saved
through “free loading” by homeowners who have defaulted on their mortgages yet
maintained their residence, thus living without a mortgage payment.
·
The
artificially suppressed interest rates...
Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
ATTENTION: REPORTERS – HIP BOOTS MANDATORY, WADERS
RECOMMENDED SINCE YOU’LL BE AT LEAST KNEE-DEEP IN ‘NO-RECESSION HELICOPTER BEN
B.S. BERNAKE’ B*** S***! ] On Wednesday,
he will be the first Fed chairman to take on-the-record questioning from the
media.
24 Signs Of
Economic Decline In America ‘The United States is in the middle of a
devastating long-term economic decline and it is getting really hard to deny
it. Over the past year I have included literally thousands of depressing
statistics in my articles about the U.S. economy. The
Economic Collapse April 23, 2011 The United States is in the middle of a devastating
long-term economic decline and it is getting really hard to deny it. Over
the past year I have included literally thousands of depressing statistics in
my articles about the U.S. economy… the U.S. economy is in deep decline and is
dying a little bit more every single day…
Treasury
quietly plans for debt showdown (Washington Post) As White House warns of catastrophe if
Congress fails to raise the debt ceiling, Geithner is working behind the scenes
to juggle the books and conserve cash. [ Quietly? Hardly. It’s probably the most
trumpeted quiet plan in the history of this now defacto bankrupt nation. Davis
‘… This is how we pay off our current debts and I think bondholders are simply
happy to get anything out of a country that admits it owes $15Tn (1/4 of global
GDP) but probably owes closer to $60Tn (entire global GDP) in the form of
unfunded liabilities. The funniest thing about this (and you have to laugh) is
to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE
OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
… Suckers’ rally
to keep suckers suckered: Philadelphia
Fed Depresses Economists Durden ‘On Thursday April 21,
2011, 1:32 pm EDT And here comes the first indicator that Q2 GDP is
about to be mass revised by everyone, courtesy of Japan, and ongoing inflation
pressures: the Philadelphia Fed collapsed from a revised 43.4 (a 27 year high)
to 18.5, the lowest since November 2010… This is an especially great opportunity to sell / take profits
while you still can since there's much worse to come!]
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s
Blog.. the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar 'Despite
the terrible economic performance of the past ten years, equity valuations are
the 2nd largest bubble in U.S. history... According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
according to this valuation metric. The only time the markets have been more
overvalued was a few brief months in 1929 and the tech bubble
... growth in
earnings have been artificially manufactured...
· The change in accounting rules for the financial sector by FASB has generated massive “false” account profits beginning in 2009.
·
The extended
(and then further extended) unemployment benefits have kept an artificially
higher demand for consumer consumption. As a result, the US government has
artificially subsidized corporate profits.
·
The billions
saved through “free loading” by homeowners who have defaulted on their
mortgages yet maintained their residence, thus living without a mortgage
payment.
·
The
artificially suppressed interest rates...
Drudgereport: SPOOK
SHUFFLE: PETRAEUS TO CIA, PANETTA TO PENTAGON (americans-just a bunch of
spooks!)...
Afghan
officer fires on U.S. troops, kills 9 [american war criminals winning hearts
and minds]...
BERNANKE:
Here comes the inflation...
GOLD
RECORD -- AGAIN...
Banks Warn
Obama on Soaring Debt Problems...
Gasoline
futures jump 6 cents in one day...
TRUMP
TO GIBBS: YOU'RE 'A LOSER' [‘Another trumped-up case of the pot calling the
kettle black’]... TRUMP: Obama
Not Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically,
Donald with the mantra, ‘you’re a killer, you’re a king’ in film noir
melodramatic fashion which proved too much for the more balanced and ‘chosen /
favored’ elder brother trump who committed suicide. The old man also required
trump to go to prep / military / boarding school where according to a
classmate, Ted Levine, trump used to wet / pee in his bed. ) vegetable garden in the same manner as
dumbya bush … mobster trump and people like trump are part of the problem
(total b*** s***, fraud, etc., as in his home turf, mob-infested sinkholes,
jersey / new york), not the solution. Indeed, trump is an interesting mental
case in that he evolved from narcissist (those inflated grandiose moods coupled
with feelings of inferiority – he loved to obsessively read those hitler
speeches for inspiration and to pump himself up according to Ivana Trump) to
severe case of antisocial personality disorder [ predatory disregard for and
violation of the rights of others – hence, those sophomoric soundbite solutions
to complex problems as, ie., taking oil fields(Libya), 25% tariff on Chinese
(actually including american goods made in China), drug money laundering in his
casinos, bribery, etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
In a rational nation that
wasn’t in decline as pervasively corrupt, defacto bankrupt america, trump and
sister Maryanne would both be in prison.
'Terrible
student,' not good enough for Harvard... Biden
daughter trashes Trump...
Bill Cosby slams: 'He's
full of it!'...
Trump
Takes On NYT, Gail Collins...
Admires
her for surviving 'so long with so little talent'...
NBCWSJ
POLL SHOCK: TRUMP #2 GOP [ NBC
where t_rump has his Jerry Springer
derivative shock-jock show and sinkhole new york's fraud street journal … poll?
… Don't make me laugh … Lawrence O'Donnell insists parent company NBC consider
firing Donald Trump Daily
Caller ... Milbank: Donald
trumps CPAC | Gibbs
gone (Washington
Post) [ Trump’s a loser, dressed up and
propped up by and to shill for a declining, fallen nation in the most corrupt
regions (ie., new york, jersey, etc.) of the country (every fallen nation has
such); of that there is no question …"Over the years I've participated in
many battles and have really almost come out very, very victorious every single
time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s
never won a battle that wasn’t fixed in advance (including the ‘pre-packaged
bankrupcies’ crammed down the throats of objecting creditors – jersey general ]
He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve
Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people
and companies, and I've won many wars," he added. (Though he didn't serve
in the military.) "I have fairly [according to mobster rules; ie.,
bribery, money laundering, etc.] but intelligently [ as any other mob boss …
trump is total b*** s***, a fraud, and lightweight … and, despite the façade,
quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of
american decline and part of the problem, not the solution! …trump also said
america’s become the laughingstock of the world … true enough … and trump the
biggest joke … NEWS FLASH: Direct from Lost Angeles
Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now
caleefornia mob fame with his continuing message for the past several years:
buy real estate (and watch the values go down…..riiiiight!).
Bank
sues Trump over Chicago tower loan...
Trump
casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal
Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With
Employee Killed – What else would you you expect from a mobster’s casino in
mob-infested jersey!
Trump luxury resort
folds, leaving buyers defrauded…litigation has commenced…send for sister
maryanne, the corrupt federal judge to preside, coverup, etc., she’s in
n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud
and handles her own motions to recuse her and like mobster trump should be in
jail ... (see RICO Case)] earned many billions of dollars
[ at whose expense ], which in a sense was both a scorecard and acknowledgment
of my abilities [ to fool most of the people, all of the time. ] ." TRUMP
DRAWS CHEERS, BOOS AT CONSERVATIVE CONFERENCE... PONDERING
PRESIDENTIAL RUN... [Don’t make me laugh! … Donald
T_rump Would Impose 25% Tax on China Imports if President [
trump also said america’s become the laughingstock of the world … true
enough … and trump the biggest joke … Indeed, that trump even posits the
possibility of a run when he should be in jail is a testament to just how big a
laughingstock pervasively corrupt, defacto bankrupt america’s become! [ If he was mobster in chief, mobster and
scoundrel trump wraps himself in populist american flag and offers up an (too
little too late – typical lightweight) implausible solution to keep ‘the juice’
flowing though he’d already be in jail in a rational, non-declining nation with
meaningful laws. All China has to do is dump (and not prospectively buy) their
ever more and declining in value day-by-day (from dollar debasement policies)
u.s. paper / bonds and overnight and the u.s. economy consequently thereby collapse. [ When you come right down
to it, this has been america’s most significant export. Indeed, this
irrevocable structural shift, hailed by cia men hw bush and clinton (clinton
couldn’t have survived with them) by way of NAFTA as the greatest thing since sliced bread was indeed in no
uncertain terms condemned and warned against by Perot, a man of honor who,
unlike his opponents, could not be bought, which is the reason, in pervasively
corrupt america, he could never have been elected. Interestingly, you may have
noticed the good (but not great, other than the spotlight on pervasive bribery
including judges, police, politicians, etc., being far too light) the film ‘The
Untouchables’ getting a wide re-airing of late, purporting to be a significant
part of american folklore / history / culture. However, the reality is that in
america, and certainly today, the real story with impact is that of ‘The
Touchables’. The reality is that Elliot Ness died a broken man; bankrupt,
unable to even win election to the mayoralty of his then current hometown. He
was incorruptible; and hence, in the real america, unelectable at the least if
not also all but unemployable (he and his are among those few genetic anomalies
in america as I’ve previously alluded to. How far america has fallen from even false
perception! Pervasively corrupt, meaningfully lawless america can’t even fake
it anymore. See, for example, http://albertpeia.com/CIAAgentAffidavit1.jpg http://albertpeia.com/FBIAgentAffidavit11.jpg , and of course, corrupt
legal / judicial processes, etc., Defacto bankrupt, fraudulent america also spends more on
offensive (defensive a misnomer / propaganda) military spending than all the
nations of the world combined, and by a large margin at that. Do you see a
pattern emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
… The pervasively corrupt
american illegal system … corrupt u.s. courts / (lawyers) / judges: Their
lifetime plush appointments should be abolished, which corrupt entities are
unheard of in productive societies as China, Japan, etc.. Time to abolish these
drags on society and eliminate their lifetime stipends and costly
bureaucracies. Rules of law mean nothing to these typically corrupt americans.
Most, including sam alito of the u.s. supreme court, concerning drug
money laundering and obstruction of justice in the 3rd circuit (
also maryanne trump barry who covered-up drug money laundering through her
brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it
for the money, personal money, big, cash, untraceable money. The fog of war is
great for such things (360 tons $100 bills flown into Iraq and missing, etc.). [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt
nation. ] “I would announce, without
equivocation, a 25% tax increase on anything purchased from China.” ]
National
security shake-up expected
(Washington Post) [ Shake-up? I
don’t think so. There may have been a time when a such changes, be it
personnel, policy, etc., might as per the following reference be slight
exaggeration; but no more, as all such now is literally a rearrangement of the
deck chairs on the uss Titanic. Nothing succeeds quite like failure in america
these days! Poll:
Egyptians skeptical about U.S.
Egyptians have an unfavorable view of the U.S., but they are also
divided over Islamic fundamentalists. (Washington Post) [ Hey! … Guess what? … americans and the rest
of the world (except zionist israel, zionists, and old biddy britain) are
skeptical and have an unfavorable view of america. The Economic Collapse: 24 more signs of economic decline in America…
#1 On Monday, S&P altered its outlook on U.S.
government debt from “stable” to “negative” ..at the rest of the world is
losing faith in the U.S. dollar and in U.S. Treasuries.
#2 China has
announced reducing their holdings of U.S. dollar
#3 .. “panic
dollar selling is setting in” and U.S. dollar in for a huge decline.
#4 The biggest bond fund in the world, PIMCO, is now shorting U.S. government bonds.
#5 Bad economy is causing “ghost towns” to appear all
across the U.S..
#6 There are now about 7.25
million less jobs in America than when the recession began back in 2007.
#7 The average American family is having a really tough time
- Only 45.4% of Americans had a job during 2010. .
#8 Only 66.8% of American men had a job last year-
lowest level ever ..
#9 Avg CEO made 343 times more money than the
average American
#10 Gas prices five dollars per gallon at gas stations.. $6 gas soon
#11 .. 12 months the average price of gasoline in the US
has gone up by
about 30%.
#12 Due to rising fuel prices, American Airlines lost a staggering $436 million during first qtr 2011.
#13 U.S. households now receiving more from the US gov’t
than
they are paying to the government in taxes.
#14 1 of 4
dollars that the U.S. govt borrows goes to pay the interest on the national debt.
#15 Total home mortgage debt in the United States is
now about
5 times larger than it was just 20 years ago.
#16 Total credit card debt in u.s. more than 8 times larger
than 30 yrs ago.
#17 Avg household debt in the United States has
now reached a level of 136% of avg household income. In China, avg
household debt is only 17% of avg household income.
#18 Avg American spends approximately 23 percent
.. on food and gas.
#19 .. 74 percent of u.s. said that they
planned to slow down their spending
#20 59 percent u.s. receive money from the
govt ..
#21 avg length of unemployment in the U.S. is now an
all-time record 39 weeks.
#22 u.s. random acts of violence”…
#23 Americans are
popping
the gold teeth right out of their mouths / selling them to pawn shops.
#24 ..u.s. people gobbling up larger and larger amounts
of antidepressants / other drugs. ..’ ]
]
Trump’s
donations favor Democrats
(Washington Post) [ Why the surprise? In addition to being a bribester,
mobster, trump’s a total fraudster / mental case who stands for absolutely
nothing more than expedient soundbites!
Drudgereport: TRUMP: Obama Not
Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically
donald with the mantra, ‘you’re a killer, you’re a king’ in film noir
melodramatic fashion which proved too much for the more balanced and ‘chosen /
favored’ elder brother trump who committed suicide. The old man also required
trump to go to prep / military / boarding school where according to a
classmate, Ted Levine, trump used to wet / pee in his bed. ) vegetable garden in the same manner as
dumbya bush … mobster trump and people like trump are part of the problem
(total b*** s***, fraud, etc., as in his home turf, mob-infested sinkholes,
jersey / new york), not the solution. Indeed, trump is an interesting mental
case in that he evolved from narcissist (those inflated grandiose moods coupled
with feelings of inferiority – he loved to obsessively read those hitler
speeches for inspiration and to pump himself up according to Ivana Trump) to
severe case of antisocial personality disorder [ predatory disregard for and
violation of the rights of others – hence, those sophomoric soundbite solutions
to complex problems as, ie., taking oil fields(Libya), 25% tariff on Chinese
(actually including american goods made in China) goods, drug money laundering
in his casinos, bribery, etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
States
face shortfall for retirees (Washington Post) Public workers’ retirement funds had a gap
of $1.26 trillion at the end of fiscal 2009, a report says.
Study:
Affordable rentals scarce
(Washington Post) Share of
renters who spend more than half their income on housing is at its highest
level in half a century.
Poll:
For Obama, low marks on Afghan war (Washington Post) More Americans disapprove of President
Obama’s management of the war in Afghanistan than support it, according to a
new Washington Post-ABC News poll, a finding that reflects the public’s broader
concern over the course of the nearly decade-old conflict.
Fuel
prices cut into Obama popularity
(Washington Post) As gas prices
bite into household incomes, Obama’s support takes a hit, according to new
poll. The high fuel price dynamic is the
slow / now faster motion, long predicted hyperinflationary consequence of
failed fed, administration, congressional economic / financial / fiscal policy
that essentially has been interposed for the (short-term particularly) benefit
of the frauds on wall street (The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed), and have used the mideast turmoil to obfuscate their
failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Return of Inflation: 5 Worrying Signs From Friday's NY Times
American
Stock Ownership Declines
24 Signs Of Economic Decline In America ‘The United States is in the middle of a devastating long-term economic decline and it is getting really hard to deny it. Over the past year I have included literally thousands of depressing statistics in my articles about the U.S. economy. The Economic Collapse April 23, 2011 The United States is in the middle of a devastating long-term economic decline and it is getting really hard to deny it. Over the past year I have included literally thousands of depressing statistics in my articles about the U.S. economy… the U.S. economy is in deep decline and is dying a little bit more every single day…
Poll:
Egyptians skeptical about U.S.
Egyptians have an unfavorable view of the U.S., but they are also divided
over Islamic fundamentalists. (Washington Post)
[ Hey! … Guess what? … americans and the rest of the world (except
zionist israel, zionists, and old biddy britain) are skeptical and have an
unfavorable view of america. The Economic Collapse: 24 more signs of economic decline in America…
#1 On Monday, S&P altered its outlook on U.S.
government debt from “stable” to “negative” ..at the rest of the world is
losing faith in the U.S. dollar and in U.S. Treasuries.
#2 China has
announced reducing their holdings of U.S. dollar
#3 .. “panic
dollar selling is setting in” and U.S. dollar in for a huge decline.
#4 The biggest bond fund in the world, PIMCO, is now shorting U.S. government bonds.
#5 This cruel economy is causing “ghost towns” to
appear all across the United States..
#6 There are now about 7.25
million less jobs in America than when the recession began back in 2007.
#7 The average American family is having a really tough time right
now. Only 45.4% of Americans had a job during 2010. .
#8 Only 66.8% of American men had a job last
year. That was the lowest level ever ..
#9 According to a new report from the AFL-CIO, the
average CEO made 343 times more money than the
average American
#10 Gas prices reached five dollars per gallon at a gas station in Washington, DC
on April 19th, 2011. .. $6 gas soon
#11 .. 12 months the average price of gasoline in the
United States has gone up by
about 30%.
#12 Due to rising fuel prices, American Airlines lost a staggering $436 million during the first quarter of
2011.
#13 U.S. households are now receiving more income from
the U.S. governmentthan
they are paying to the government in taxes.
#14 1 of 4
dollars that the U.S. government borrows goes to pay the interest on the national debt.
#15 Total home mortgage debt in the United States is
now about
5 times larger than it was just 20 years ago.
#16 Total credit card debt in u.s. more than 8 times larger
than 30 yrs ago.
#17 Average household debt in the United States has
now reached a level of 136% of average household income. In China,
average household debt is only 17% of average household income.
#18 The average American now spends approximately 23 percent
.. on food and gas.
#19 .. 74 percent of Americans said that they
planned to slow down their spending in coming months
#20 59 percent u.s. receive money from the
federal government ..
#21 average length of unemployment in the U.S. is
now an
all-time record 39 weeks.
#22 As the economy continues to collapse, frustration
..“random acts of violence”…
#23 Some Americans have become so desperate for cash
that they are literallypopping
the gold teeth right out of their mouths and selling them to pawn shops.
#24 ..u.s. people have been gobbling up larger and
larger amounts of antidepressants and other prescription drugs. ..’ ]
20 Questions for Ben
Bernanke Zero Hedge
| The Fed is expected to continue the QE2 Lite mandate.
Chernobyl,
25 years later (Washington Post)
Following the nuclear disaster in Japan, the Chernobyl accident has a
particular importance. Japan
declares evacuation zone near nuclear plant
(Washington Post) [ Wow! Sounds like a plan! … From the beginning, as
I’ve written on my website, I’ve thought the catastrophic nature and impact of
this disaster to have been underreported at the least … the Japanese
uncharacteristically have adopted somewhat of a ‘if wishing could make it so’
tact in this sad crisis. Cesium
137 Threat Grows While Corporate Media Remains Mute The hereditary
communist dictatorship in North Korea reports on the spread of radiation from
the Fukushima nuclear plant, but it has all but fallen off the corporate media
radar screen here. Monitoring stations across North Korea from April 11 to 17
detected iodine-131 and cesium-137 in the air above Wonsan in the southeast and
Chongjin in the southeast, according to the country’s state-run media. According
to the Los Angeles Times, seawater near the Fukushima nuclear complex was
recently found to contain “iodine-131 at 7.5 million times the legal
limit”. Something
Odd Is Happening at Reactor Number 4 The operator of the troubled Fukushima
Daiichi nuclear power plant is carefully monitoring the situation at the Number
4 spent fuel pool, where the water temperature is rising despite increased
injections of cooling water. Helen
Caldicott Talks About the Horror of Fukushima Australian physician, author,
and anti-nuclear advocate Helen Caldicott talks about the Fukushima nuclear
catastrophe and what we can expect. It ain’t pretty. Busby:
‘Can’t seal Fukushima like Chernobyl – it all goes into sea’ As world marks
the Chernobyl anniversary, many say that the world has failed to learn the
lessons on nuclear safety that the tragedy provided. RT talks to Professor
Christopher Busby, Scientific secretary of the European Committee on radiation
risks, for a little more insight on 21st century’s most serious nuclear crisis
at Fukushima. Assassinate
Qaddafi? Tyrants Beware – What Goes Around Might Come Around Lindsey Graham
and John McCain, both of the meddling International Republican Institute
implicated in funding and fueling the “Arab Spring” to begin with, have called
for the assassination of Libya’s Qaddafi and members of his inner circle. The
London Telegraph also reported that Foreign Secretary William Hague refused to
rule out using US drones to assassinate Qaddafi. TEPCO
finds radioactive concrete emitting 900,000 microsieverts per hour of nuclear
radiation The operator of the damaged Fukushima Daiichi nuclear power plant
says that concrete debris emitting a high level of radiation has been found
near the Number 3 reactor.
With Barbour now out, new questions for GOP (Washington Post) THE TAKE | Decision sets off scramble for parts of his financial and political network and raises questions about challenges party faces in unseating Obama.
Poll:
For Obama, low marks on Afghan war (Washington Post) [ If only ‘wobama the b’ (for b*** s***) had
been a man of his word and stopped these nation-bankrupting, murderous wars. ]
Drudgereport: TRUMP: Obama Not
Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically
donald with the mantra, ‘you’re a killer, you’re a king’ in film noir
melodramatic fashion which proved too much for the more balanced and ‘chosen /
favored’ elder brother trump who committed suicide. The old man also required
trump to go to prep / military / boarding school where according to a
classmate, Ted Levine, trump used to wet / pee in his bed. ) vegetable garden in the same manner as
dumbya bush … mobster trump and people like trump are part of the problem
(total b*** s***, fraud, etc., as in his home turf, mob-infested sinkholes,
jersey / new york), not the solution. Indeed, trump is an interesting mental
case in that he evolved from narcissist (those inflated grandiose moods coupled
with feelings of inferiority – he loved to obsessively read those hitler
speeches for inspiration and to pump himself up according to Ivana Trump) to
severe case of antisocial personality disorder [ predatory disregard for and
violation of the rights of others – hence, those sophomoric soundbite solutions
to complex problems as, ie., taking oil fields(Libya), 25% tariff on Chinese
(actually including american goods made in China) goods, drug money laundering
in his casinos, bribery, etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
Islamic Group with British Intelligence Links Threatens
Royal Wedding Kurt Nimmo
| Muslims Against Crusades has reportedly told Princes William and Harry to
“watch your backs.”
Media Distorts Truth To Propagandize For NATO-Backed War
On Syria Paul Joseph Watson
| Another contrived “humanitarian” war is in the making.
Modern British Royalty: Eugenicists, Nazis and Neo-Feudalists
Steve Watson & Alex
Jones | The upcoming royal Wedding of William
Mountbatten-Windsor, heir in waiting to the British throne has the UK media in
a frenzy.
Waking Up to Economic Realities Ron Paul | Even the most conservative
budget that has been proposed by Republican leadership requires raising the
debt ceiling.
MI5
Intelligence Front Threatens Royal Wedding To Justify Banning Protest Once
again, the corporate media rolls out a scary story about Islamists threatening
the state, this time represented by the British royal family.
Media
Distorts Truth To Propagandize For NATO-Backed War On Syria Despite the
fact that western media is completely cut off from entering Syria and therefore
unable to verify reports of hundreds of murders carried out by security forces
loyal to Syrian president Bashar al-Assad, grainy and often misconstrued
YouTube videos have been cited as proof positive that Assad is overseeing a
brutal crackdown on pro-democracy protesters, but a whistleblower living in
Syria has contacted us to express his disbelief at such claims, dismissing them
as little more than fabricated fairy-tales designed to law the groundwork for
yet another NATO-backed military intervention based on contrived “humanitarian”
grounds.
Modern
British Royalty: Eugenicists, Nazis and Neo-Feudalists The upcoming royal
Wedding of William Mountbatten-Windsor, heir in waiting to the British throne
has the UK media in a frenzy of vomit inducing worship and stomach churning
sycophantic fawning. Even the US media is pouring over the royals to such an
extent that commentators have pointed out that had the modern day corporate
media covered the Revolutionary War, it would have firmly supported the
British.
CNN
investigation: Obama born in U.S. Was Barack Obama really born in America?
Alex Jones – The
Man, The History “Alex Jones is a model for people to create their own
media,” Michael Harrison, editor of the industry trade magazine Talkers, told
Rolling Stone writer Alexander Zaitchik. “When the history is written of talk
broadcasting’s transition from the corporate model of the 20th century to the
digital, independent model of the 21st century, he will be considered an early
trailblazer.”
Investigator:
Fukushima Blast Was Nuclear Explosion British scientist Christopher Busby,
a researcher on the negative health effects of ionizing radiation, told Russia
Today that one of the explosions at the crippled Fukushima nuclear plant in
Japan was a nuclear explosion, not a hydrogen explosion as widely reported in
the media.
Drudgereport:
Gas
prices rise for 35th straight day...
Climb
6 cents overnight in Michigan...
President's
answer: More taxes...
Gasoline Futures Highest Since 2008...
TELEPROMPTER
INVENTOR DIES... (Wobama ‘goes in mourning … day of silence
declared’)
Buchanan
to Matthews: 'You're supposed to be a journalist'...
RON
PAUL: HE'S IN!
Killer
Combo of High Gas, Food Prices at 'Key Tipping Point'...
AAA
Sees 18% Increase In Roadside Calls For Drivers Out Of Gas...
$5.69
GALLON IN ORLANDO -- FOR REGULAR...
IMF:
AGE OF AMERICA NEARS END...
Dollar's
Decline Speeds Up...
China
planning to cut U.S. reserves by two-thirds?
Gold
and silver continue to surge...
Reid's
China junket sked kept secret over 'security concerns'...
WASHPOST: If the trip's so dangerous, why are senators
spouses tagging along?
TRUMP: Obama
Not Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically,
Donald with the mantra, ‘you’re a killer, you’re a king’ in film noir
melodramatic fashion which proved too much for the more balanced and ‘chosen /
favored’ elder brother trump who committed suicide. The old man also required
trump to go to prep / military / boarding school where according to a
classmate, Ted Levine, trump used to wet / pee in his bed. ) vegetable garden in the same manner as
dumbya bush … mobster trump and people like trump are part of the problem
(total b*** s***, fraud, etc., as in his home turf, mob-infested sinkholes,
jersey / new york), not the solution. Indeed, trump is an interesting mental
case in that he evolved from narcissist (those inflated grandiose moods coupled
with feelings of inferiority – he loved to obsessively read those hitler
speeches for inspiration and to pump himself up according to Ivana Trump) to
severe case of antisocial personality disorder [ predatory disregard for and
violation of the rights of others – hence, those sophomoric soundbite solutions
to complex problems as, ie., taking oil fields(Libya), 25% tariff on Chinese
(actually including american goods made in China), drug money laundering in his
casinos, bribery, etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
In a rational nation that
wasn’t in decline as pervasively corrupt, defacto bankrupt america, trump and
sister Maryanne would both be in prison.
'Terrible
student,' not good enough for Harvard... Biden
daughter trashes Trump...
Bill Cosby slams: 'He's
full of it!'...
Trump
Takes On NYT, Gail Collins...
Admires
her for surviving 'so long with so little talent'...
NBCWSJ
POLL SHOCK: TRUMP #2 GOP [ NBC
where t_rump has his Jerry Springer
derivative shock-jock show and sinkhole new york's fraud street journal … poll?
… Don't make me laugh … Lawrence O'Donnell insists parent company NBC consider
firing Donald Trump Daily
Caller ... Milbank: Donald
trumps CPAC | Gibbs
gone (Washington
Post) [ Trump’s a loser, dressed up and
propped up by and to shill for a declining, fallen nation in the most corrupt
regions (ie., new york, jersey, etc.) of the country (every fallen nation has
such); of that there is no question …"Over the years I've participated in
many battles and have really almost come out very, very victorious every single
time," the Donald said. (Except for the bankruptc[ies], that is. [ trump’s
never won a battle that wasn’t fixed in advance (including the ‘pre-packaged
bankrupcies’ crammed down the throats of objecting creditors – jersey general ]
He also with his corrupt mob ilk 'chased' Steve Wynn out of jersey – Steve
Wynn's doing extremely well in Macau and Vegas.) "I've beaten many people
and companies, and I've won many wars," he added. (Though he didn't serve
in the military.) "I have fairly [according to mobster rules; ie.,
bribery, money laundering, etc.] but intelligently [ as any other mob boss …
trump is total b*** s***, a fraud, and lightweight … and, despite the façade,
quite insecure … trump’s a total mental case … He truly is the ‘poster-boy’ of
american decline and part of the problem, not the solution! …trump also said
america’s become the laughingstock of the world … true enough … and trump the
biggest joke … NEWS FLASH: Direct from Lost Angeles
Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now
caleefornia mob fame with his continuing message for the past several years:
buy real estate (and watch the values go down…..riiiiight!).
Bank
sues Trump over Chicago tower loan...
Trump
casino to miss interest payment...
trump’s fired (from ‘his own company’)
Gunfire Erupts Inside trump Taj Mahal
Casino, 1 Dead - Second Such Incident In A Year At N.J. Mainstay Ends With
Employee Killed – What else would you you expect from a mobster’s casino in
mob-infested jersey!
Trump luxury resort
folds, leaving buyers defrauded…litigation has commenced…send for sister
maryanne, the corrupt federal judge to preside, coverup, etc., she’s in
n.y./n.j./pa 3rd circuit ct appeals, understands drug money laundering/fraud
and handles her own motions to recuse her and like mobster trump should be in
jail ... (see RICO Case)] earned many billions of dollars
[ at whose expense ], which in a sense was both a scorecard and acknowledgment
of my abilities [ to fool most of the people, all of the time. ] ." TRUMP
DRAWS CHEERS, BOOS AT CONSERVATIVE CONFERENCE... PONDERING
PRESIDENTIAL RUN... [Don’t make me laugh! … Donald
T_rump Would Impose 25% Tax on China Imports if President [
trump also said america’s become the laughingstock of the world … true
enough … and trump the biggest joke … Indeed, that trump even posits the
possibility of a run when he should be in jail is a testament to just how big a
laughingstock pervasively corrupt, defacto bankrupt america’s become! [ If he was mobster in chief, mobster and
scoundrel trump wraps himself in populist american flag and offers up an (too
little too late – typical lightweight) implausible solution to keep ‘the juice’
flowing though he’d already be in jail in a rational, non-declining nation with
meaningful laws. All China has to do is dump (and not prospectively buy) their
ever more and declining in value day-by-day (from dollar debasement policies)
u.s. paper / bonds and overnight and the u.s. economy consequently thereby collapse. [ When you come right down
to it, this has been america’s most significant export. Indeed, this
irrevocable structural shift, hailed by cia men hw bush and clinton (clinton
couldn’t have survived with them) by way of NAFTA as the greatest thing since sliced bread was indeed in no
uncertain terms condemned and warned against by Perot, a man of honor who,
unlike his opponents, could not be bought, which is the reason, in pervasively
corrupt america, he could never have been elected. Interestingly, you may have
noticed the good (but not great, other than the spotlight on pervasive bribery
including judges, police, politicians, etc., being far too light) the film ‘The
Untouchables’ getting a wide re-airing of late, purporting to be a significant
part of american folklore / history / culture. However, the reality is that in
america, and certainly today, the real story with impact is that of ‘The
Touchables’. The reality is that Elliot Ness died a broken man; bankrupt,
unable to even win election to the mayoralty of his then current hometown. He
was incorruptible; and hence, in the real america, unelectable at the least if
not also all but unemployable (he and his are among those few genetic anomalies
in america as I’ve previously alluded to. How far america has fallen from even
false perception! Pervasively corrupt, meaningfully lawless america can’t even
fake it anymore. See, for example, http://albertpeia.com/CIAAgentAffidavit1.jpg http://albertpeia.com/FBIAgentAffidavit11.jpg , and of course, corrupt
legal / judicial processes, etc., Defacto bankrupt, fraudulent america also spends more on
offensive (defensive a misnomer / propaganda) military spending than all the
nations of the world combined, and by a large margin at that. Do you see a
pattern emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
… The pervasively corrupt
american illegal system … corrupt u.s. courts / (lawyers) / judges: Their
lifetime plush appointments should be abolished, which corrupt entities are
unheard of in productive societies as China, Japan, etc.. Time to abolish these
drags on society and eliminate their lifetime stipends and costly
bureaucracies. Rules of law mean nothing to these typically corrupt americans.
Most, including sam alito of the u.s. supreme court, concerning drug
money laundering and obstruction of justice in the 3rd circuit (
also maryanne trump barry who covered-up drug money laundering through her
brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it
for the money, personal money, big, cash, untraceable money. The fog of war is
great for such things (360 tons $100 bills flown into Iraq and missing, etc.). [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt
nation. ] “I would announce, without
equivocation, a 25% tax increase on anything purchased from China.” ]
Poll:
Egyptians skeptical about U.S.
Egyptians have an unfavorable view of the U.S., but they are also
divided over Islamic fundamentalists. (Washington Post) [ Hey! … Guess what? … americans and the rest
of the world (except zionist israel, zionists, and old biddy britain) are
skeptical and have an unfavorable view of america. The Economic Collapse: 24 more signs of economic decline in America…
#1 On Monday, S&P altered its outlook on U.S.
government debt from “stable” to “negative” ..at the rest of the world is
losing faith in the U.S. dollar and in U.S. Treasuries.
#2 China has
announced reducing their holdings of U.S. dollar
#3 .. “panic
dollar selling is setting in” and U.S. dollar in for a huge decline.
#4 The biggest bond fund in the world, PIMCO, is now shorting U.S. government bonds.
#5 This cruel economy is causing “ghost towns” to
appear all across the United States..
#6 There are now about 7.25
million less jobs in America than when the recession began back in 2007.
#7 The average American family is having a really tough time right
now. Only 45.4% of Americans had a job during 2010. .
#8 Only 66.8% of American men had a job last
year. That was the lowest level ever ..
#9 According to a new report from the AFL-CIO, the
average CEO made 343 times more money than the
average American
#10 Gas prices reached five dollars per gallon at a gas station in Washington, DC
on April 19th, 2011. .. $6 gas soon
#11 .. 12 months the average price of gasoline in the
United States has gone up by
about 30%.
#12 Due to rising fuel prices, American Airlines lost a staggering $436 million during the first quarter of
2011.
#13 U.S. households are now receiving more income from
the U.S. governmentthan
they are paying to the government in taxes.
#14 1 of 4
dollars that the U.S. government borrows goes to pay the interest on the national debt.
#15 Total home mortgage debt in the United States is
now about
5 times larger than it was just 20 years ago.
#16 Total credit card debt in u.s. more than 8 times larger
than 30 yrs ago.
#17 Average household debt in the United States has
now reached a level of 136% of average household income. In China,
average household debt is only 17% of average household income.
#18 The average American now spends approximately 23 percent
.. on food and gas.
#19 .. 74 percent of Americans said that they
planned to slow down their spending in coming months
#20 59 percent u.s. receive money from the
federal government ..
#21 average length of unemployment in the U.S. is
now an
all-time record 39 weeks.
#22 As the economy continues to collapse, frustration
..“random acts of violence”…
#23 Some Americans have become so desperate for cash
that they are literallypopping
the gold teeth right out of their mouths and selling them to pawn shops.
#24 ..u.s. people have been gobbling up larger and
larger amounts of antidepressants and other prescription drugs. ..’ ]
Chernobyl,
25 years later (Washington Post)
Following the nuclear disaster in Japan, the Chernobyl accident has a
particular importance. Japan
declares evacuation zone near nuclear plant
(Washington Post) [ Wow! Sounds like a plan! … From the beginning, as
I’ve written on my website, I’ve thought the catastrophic nature and impact of
this disaster to have been underreported at the least … the Japanese
uncharacteristically have adopted somewhat of a ‘if wishing could make it so’
tact in this sad crisis. Cesium
137 Threat Grows While Corporate Media Remains Mute The hereditary
communist dictatorship in North Korea reports on the spread of radiation from
the Fukushima nuclear plant, but it has all but fallen off the corporate media
radar screen here. Monitoring stations across North Korea from April 11 to 17
detected iodine-131 and cesium-137 in the air above Wonsan in the southeast and
Chongjin in the southeast, according to the country’s state-run media. According
to the Los Angeles Times, seawater near the Fukushima nuclear complex was
recently found to contain “iodine-131 at 7.5 million times the legal
limit”. Something
Odd Is Happening at Reactor Number 4 The operator of the troubled Fukushima
Daiichi nuclear power plant is carefully monitoring the situation at the Number
4 spent fuel pool, where the water temperature is rising despite increased
injections of cooling water. Helen
Caldicott Talks About the Horror of Fukushima Australian physician, author,
and anti-nuclear advocate Helen Caldicott talks about the Fukushima nuclear
catastrophe and what we can expect. It ain’t pretty. Busby:
‘Can’t seal Fukushima like Chernobyl – it all goes into sea’ As world marks
the Chernobyl anniversary, many say that the world has failed to learn the
lessons on nuclear safety that the tragedy provided. RT talks to Professor
Christopher Busby, Scientific secretary of the European Committee on radiation
risks, for a little more insight on 21st century’s most serious nuclear crisis
at Fukushima. Assassinate
Qaddafi? Tyrants Beware – What Goes Around Might Come Around Lindsey Graham
and John McCain, both of the meddling International Republican Institute
implicated in funding and fueling the “Arab Spring” to begin with, have called
for the assassination of Libya’s Qaddafi and members of his inner circle. The
London Telegraph also reported that Foreign Secretary William Hague refused to
rule out using US drones to assassinate Qaddafi. TEPCO
finds radioactive concrete emitting 900,000 microsieverts per hour of nuclear
radiation The operator of the damaged Fukushima Daiichi nuclear power plant
says that concrete debris emitting a high level of radiation has been found
near the Number 3 reactor.
States
face shortfall for retirees (Washington Post) Public workers’ retirement funds had a gap
of $1.26 trillion at the end of fiscal 2009, a report says.
Study:
Affordable rentals scarce
(Washington Post) Share of
renters who spend more than half their income on housing is at its highest
level in half a century.
Poll:
For Obama, low marks on Afghan war (Washington Post) More Americans disapprove of President
Obama’s management of the war in Afghanistan than support it, according to a
new Washington Post-ABC News poll, a finding that reflects the public’s broader
concern over the course of the nearly decade-old conflict.
Fuel
prices cut into Obama popularity
(Washington Post) As gas prices
bite into household incomes, Obama’s support takes a hit, according to new
poll. The high fuel price dynamic is the
slow / now faster motion, long predicted hyperinflationary consequence of
failed fed, administration, congressional economic / financial / fiscal policy
that essentially has been interposed for the (short-term particularly) benefit
of the frauds on wall street (The
frauds on wall street et als should be criminally prosecuted, jailed, fined,
and disgorgement imposed), and have used the mideast turmoil to obfuscate their
failure. Dave's
Daily 'If you can keep interest rates this low
this long, its inevitable cheap financing can allow companies to start cobbling
each other up. Further Ben's policies allow companies like IBM to sell bonds at
1% and buy back shares with the proceeds (total paper bubble-scam). POMO is occurring almost
daily and Primary Dealers can buy back their shares and pay dividends with what
essentially is taxpayer money-- … an especially great opportunity to sell / take profits while you
still can since there's much worse to come!
America
Is a Failed State Because It Won’t Prosecute Financial Crime Washington’s Blog / the grim economic reality [ http://albertpeia.com/grimreality.htm ]. Selling
In May Is Very Good Advice This Year Harding / April
Is a Good Time to Sell Adler Equity
Valuations Are Forming the Second Biggest Bubble in U.S. History Kaspar ...
According
to Yale University’s Dr. Robert Shiller, the market is now 41% overvalued
…only time the markets have been more overvalued .. 1929 & tech bubble. http://static.seekingalpha.com/uploads/2011/4/12/saupload_cape_thumb1.png PRECHTER:
We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Davis ) Return of Inflation: 5 Worrying Signs From Friday's NY Times
Return of Inflation: 5 Worrying Signs From Friday's NY Times
American
Stock Ownership Declines
24 Signs Of
Economic Decline In America ‘The United States is in the middle of a
devastating long-term economic decline and it is getting really hard to deny
it. Over the past year I have included literally thousands of depressing
statistics in my articles about the U.S. economy. The
Economic Collapse April 23, 2011
The United States is in
the middle of a devastating long-term economic decline and it is getting really
hard to deny it. Over the past year I have included literally thousands
of depressing statistics in my articles about the U.S. economy… the U.S.
economy is in deep decline and is dying a little bit more every single
day…
With Barbour now out, new questions for GOP (Washington Post) THE TAKE | Decision sets off scramble for parts of his financial and political network and raises questions about challenges party faces in unseating Obama.
Poll:
For Obama, low marks on Afghan war (Washington Post) [ If only ‘wobama the b’ (for b*** s***) had
been a man of his word and stopped these nation-bankrupting, murderous wars. ]
Drudgereport: TRUMP: Obama
Not Worthy of Ivy Leagues... [ Talk about the pot calling the kettle
black … trump’s b.s., low grade (penn) ivy league (courtesy of papa mobster
trump who ‘twisted his arm to go’ so people would take him ‘seriously’ – papa
mobster trump would pound the undistinguished academically / athletically,
Donald with the mantra, ‘you’re a killer, you’re a king’ in film noir
melodramatic fashion which proved too much for the more balanced and ‘chosen /
favored’ elder brother trump who committed suicide. The old man also required
trump to go to prep / military / boarding school where according to a
classmate, Ted Levine, trump used to wet / pee in his bed. ) vegetable garden in the same manner as
dumbya bush … mobster trump and people like trump are part of the problem
(total b*** s***, fraud, etc., as in his home turf, mob-infested sinkholes,
jersey / new york), not the solution. Indeed, trump is an interesting mental
case in that he evolved from narcissist (those inflated grandiose moods coupled
with feelings of inferiority – he loved to obsessively read those hitler speeches
for inspiration and to pump himself up according to Ivana Trump) to severe case
of antisocial personality disorder [ predatory disregard for and violation of
the rights of others – hence, those sophomoric soundbite solutions to complex
problems as, ie., taking oil fields(Libya), 25% tariff on Chinese (actually
including american goods made in China), drug money laundering in his casinos,
bribery, etc. http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]
In a rational nation that
wasn’t in decline as pervasively corrupt, defacto bankrupt america, trump and
sister Maryanne would both be in prison.
'Terrible
student,' not good enough for Harvard... Biden
daughter trashes Trump...
Bill Cosby slams: 'He's
full of it!'...
Trump
Takes On NYT, Gail Collins...
Admires
her for surviving 'so long with so little talent'...
NBCWSJ
POLL SHOCK: TRUMP #2 GOP [ NBC
where t_rump has his Jerry Springer
derivative shock-jock show and sinkhole new york's fraud street journal … poll?
… Don't make me laugh … Lawrence O'Donnell insists parent company NBC consider
firing Donald Trump Daily
Caller ... Milbank: Donald
trumps CPAC | Gibbs
gone (Washington
Post) [ Trump’s a loser, dressed up and
propped up by and to shill for a declining, fallen nation in the most corrupt
regions (ie., new york, jersey, etc.) of the country (every fallen nation has
such)…
Financial Folklore: Tales from Wall Street to Main Street DeLegge April 22, 2011 SAN DIEGO (ETFguide.com) – ‘Throughout the ages, financial folklore has been handed down from one generation to the next as so-called wisdom. And our generation has been brainwashed with its fair share of folklore.
Let's consider some
examples.
'Buying a home is
the best investment anyone can make.'
The pummeled housing
market should have put this particular fairy tale to rest, but there are a few
holdouts that haven't gotten the message.
People, for example,
that bought their home decades ago are often cited as proof that buying a home
is still the 'best investment anywhere.' But before we count their profits,
don't forget to deduct their insurance premiums, the cost of home maintenance,
improvements and property taxes. Including these real life expenses into the
equations portrays a far more realistic picture about the true investment value
of home ownership. It's not as good of a deal as you've been sold.
But the real test of
truthfulness behind this is to ask anyone that's purchased a home or
condominium within the past 10 years. Ask them how profitable their foray into
housing market has been and they'll tell you.
'Max out your
401(k) plan.'
Overstuffing your 401(k)
plan with lots of money - is a good savings habits - but won't necessarily help
you you're your investments more profitable. Why? It's because most 401(k)
plans offer a diverse menu of rigged investment choices with unnecessarily high
fees. It's the mutual fund industry's best kept secret.
What about the wonderful
benefits of tax free growth and employer matches? Unfortunately, these 401(k)
features are undermined by consistent underperformance by mutual fund managers,
poor asset allocation decisions by plan members and compounding fees.
Unless low cost index
funds and ETFs are investment choices inside your 401(k) plan, overstuffing
your 401(k) retirement plan with bloated contributions is probably not a good
idea.
'Only invest in
funds with managers that have a good track record.'
There are countless
examples of how this piece of advice has been proven false more times than
true. But since we don't have countless time or space, let's consider just one
recent example - Philip Jabre.
Jabre is one of Europe's
best known hedge fund managers and after posting a tranquil 3% gain during
2008's financial crisis, he followed it up with a handsome 46% gain in 2009.
Surely investing money with Jabre - a seasoned professional with an impressive
track record - was the smart thing to do, right?
In March, Jabre bought
Japanese stocks (NYSEArca: EWJ
- News) on news of the
earthquake but got clobbered when the Nikkei Stock Average tumbled. Instead of
staying calm, Jabre panicked and sold his shares before Japanese stocks bounced
back, which netted his firm $300 million in losses. Hardly anyone could've
foreseen this sort of meltdown from a guy with an amazing track record!
For anyone confiding in the
false comfort of past performance, beware!
'Buy whatever
Warren Buffett is buying.'
In the 1960s and 70s,
youthful groupies would follow their favorite musical bands from city to city.
Today, these same folks have graduated to following the financial moves made by
investing legends like Warren Buffett. Are there guaranteed profits for those
who ape the 'big money?'
Reuters looked at five
recent acquisitions made by Warren Buffett's Berkshire Hathaway (NYSE: BRK-A - News) to test out this theory.
Someone who bought
100,000 shares in stock in each of Berkshire's acquisition targets 70 days
before Buffett announced a deal, would have made money in just three out of
five tries. Not bad, but hardly a sure thing.
In this simplified case
study conducted by Reuters, the reward for aping Warren Buffett's past five
deals - or should we say, beating him to each deal by 70 days - was a complete
wash. The profitable trades amounted to a gain of $3.256 million
whereas the losses were $3.268 million.
So much for the false
theory that copying financial titans delivers market beating
results.’
Apprehension ahead of Moqtada al-Sadr speech (Washington Post) [ What is he expected to say?:
Thank you america for bombing, invading, and destroying his nation based on a
lie? Thank you america for killing, maiming innocent children, women, and men?
Thank you america for all the depleted uranium you’ve left behind? Thank you
america for removing your america-supported mad-dog tyrant sadam hussein who
foolishly played into his cia handlers’ trap regarding that green light for
Kuwait invasion over the slant-drilling by the latter from April Glasspie. I
don’t think so, and I don’t think the rest of the world nor his fellow Iraqis
think so. ] Lawmakers across Iraq's
political and ethnic spectrums wait for word from anti-American Shiite cleric
Moqtada al-Sadr, saying his first address after returning from nearly four
years of self-imposed exile in Iran would likely say a lot about his approach
to Iraq's government.
1 in 6 Americans Live in Poverty Tradermark ‘One of the biggest mega trends
happening in America is the bifurcation of society between the haves and the
have nots. Many of the jobs the 'underclass' once did are gone forever, while
others spent freely when times were good, and when the tide turned, have little
buffer. [Dec 8, 2007: Do the Bottom 80% of Americans Stand a
Chance?] After all, saving for a rainy day is what boring people do.
Others really never got off the ground, as the K-12 education system has
degraded dramatically the past few decades.Frankly the underlying trend - as
bad as it is on the surface - has been hidden by multiple bubbles, and most
recently, there has been a level of government assistance never seen before. [Nov 5, 2010: USA Today - Anti-Poverty Programs Surpass
Cost of Medicare] In terms of government spending. This brings up a
host of issues as any changes to the social safety net are going to send millions
past GO and directly to impoverished status (and yes there are people gaming
the system, but not tens of millions). There are myriad societal effects of the
transformation of America from a relative egalitarian society in the 1960s to a
2 or 3 class system - but those are topics for other posts we have done.The
official U.S. government tally of who is living in poverty is a joke. We last
looked at it about 16 months ago [Sep 19, 2009: US Poverty Rises to 11 Year High - But
Still Vastly Understated] For example, if you make $23,000 for a
family of 4 - you are not in poverty. If you are single and make $14,000 you
are not in poverty. I'm not sure in what counties except for rural Mississippi
you can accomplish that cost of living, but apparently the government believes
a middle class lifestyle is available at $25K for a family of 4 in all of
America. Or at least it would be inconvenient to admit otherwise. And yes once
more let me put the caveat that being "poor" in America is different
than being poor in Malawi, but in theory we should be comparing ourselves to
other first world countries.The AP has an interesting report of a new measure
of poverty in the U.S., based on the census. It has a different band of
parameters and shows an increase over the government's incredibly generous
definition of poverty. What is striking is the large increase in those in the
over 65+ camp who fall into poverty. Due to our consumption culture (encouraged
by the government at every turn, since we've transformed our economy from good
producing to services and consumption) many are entering the golden years with
little to nothing.Where once many had their mortgage paid off by the time they
retired and hence could live on a much lower income as their largest expense
was eliminated, now after a generation of serial refinancing and cash out to
finance buying 'what we deserve', many still have the mortgage to worry about
even at age 70+. There are many other factors we've discussed often - i.e. the
move from pensions to do it yourself savings in a country where saving is a sin
and spending is worshiped, the disaster that is the 401k system, etc. Unlike
the mortgage crisis which is playing out in a relative short period of time
(6-8 years), this grand economic experiment of running an economy on
consumption & services (you do my nails, I'll cut your hair, you serve me a
beer, I'll cut your lawn, you build a house, I'll default on it) is taking
decades to play out. But we're starting to see the first wave of results the
past 5-10 years, and it's not pretty.Bigger picture, there are enormous
stresses being formed at the bottom end of the society, and more and more are
being caught in the net. Anyone who truly believes there will be any serious
spending cuts at the federal level does not realize the (increasing) dependency
that has been created by the a multitude of poor decisions over the past few
decades. Indeed we fast approach the time when 1 in every 5 dollars of
"income" are government transfers. [May 25, 2010: 1 in 5.5 Dollars of American Income Now Via
Government; All time High] At this point, the genie is out of the
bottle and with a dysfunctional government whose only solution is layer on more
debt to kick the can down the road, our modern day plutonomy only grows in
power. [Sep 7, 2009: Citigroup - America; A Modern Day Plutonomy]
However, there appears nothing to be worried about since we've been well
trained to parrot the fact that as long as the S&P 500 only goes up,
everything in America is fine. Nothing to see here, move along (buy stocks as
you are moving of course).
Via AP
[Feb 20, 2009: NYT - Newly Poor Swell Lines @ Food Banks
Nationwide]
[Oct 22, 2010: Reuters - The Haves, the Have Nots, and the
Dreamless Dead]
[Sep 3, 2010: FT.com - The Crisis in Middle America]
[July 26, 2010: [Video] DatelineNBC - America's Increasing
Ranks of Poor]
Unemployment Claims Are Not What They Appear Adler
‘First-time unemployment claims rose by 52,038 to 577,279 in the week that
ended January 1. The Wall Street captive media is, as usual, fudging the
reports by reporting that claims were at 409,000, based on the seasonal hocus
pocus. They report an uptick of 18,000 instead of 52,000. Both Dow Jones and
Bloomberg are emphasizing that the 4 week moving average dropped sharply.
Again, this is based on seasonally adjusted fudge packing.The truth is that
while this year's end of year rise in claims is better than the past two years,
the numbers are still a lot worse than during good economic times. This week’s jump
of 52k compares with a rise of 88,929 in the week that ended 1/2/10. The chart
below shows that the normal seasonal uptrend is at a lower trend level than the
past two years, but well above 2006-2008. The insured unemployment rate remains
well above the 2004-2008 period. However, even that number may be misleading
because it uses a base number comprised of a 6 month average from the period
that ended in June. Because fewer people are now eligible, the actual rate
should be higher.[chart]Because new
claims are limited to those eligible, part of the downtrend in new claims is
due to the millions of persons losing eligibility. To account for that, the
next chart shows new claims as a percentage of those eligible. Here the
improving trend shows evidence of leveling off. The normal seasonal spike at
the beginning of January needs to hold around .053% to keep the downtrend from
the peaks of the past 2 years intact. The green line connects the most recent
week with the same week in prior years. Next week’s data should be the seasonal
peak.[chart]The
Department of Labor calculates the total number of covered employees quarterly,
using a 6 month average. The current figure is based on data from the first
half of 2010, which is not very useful now. However, it does imply that much of
the drop in continuing claims has come from those losing eligibility.[chart]The
following chart shows Continued Claims on an inverse scale, overlaid with stock
prices and Fed securities holdings. The inverse Continued Claims graph is a
directional proxy for total employment. The downtick at this time of year is
normal. The trend remains strong which suggests that the seasonally adjusted
payrolls data tomorrow should be positive. The consensus calls for a gain of
140,000. As I reported in the Wall Street Examiner Professional Edition
Treasury update to subscribers this week, wage tax withholding in December ran
15% ahead of November, but that probably reflects withholding from year end
bonuses rather than a significant increase in employment levels. The year to
year gain was more muted.[chart]It’s pretty
clear from this chart that the Fed is the driver of these trends, but that
other forces are at work causing diminishing returns.Disclosure: I have no positions in any stocks mentioned, and no plans to initiate
any positions within the next 72 hours.’
Expecting Employment Surprise: Dave's Daily ‘There are a lot of wild estimates making the
rounds for employment data Friday. Consensus estimates for new jobs added range
from 150-200K, but some whisper numbers are as high as 500K and that would
shock many sectors. Meanwhile stocks were hurt early by poorly received
December same store sales (despite bullish headlines to the contrary) and
rebound higher in Jobless Claims. Nevertheless, the dollar continued to rise as
commodity markets were still selling-off. The buzz remains inflation is heating
up particularly in food and energy so investors fear tightening even as the Fed
is engaged in QE. Now that's interesting!! Bond prices remained rather stable.
The Fed tossed in more POMO
activity Thursday. As that was announced stocks immediately rallied if only
briefly. What a coincidence! In advance of the all-important employment report
volume remained light and breadth negative.’
Are Investors Concerned About Rising Gas Prices? Rotblut
‘Bullish sentiment extended its streak of above-average readings to 18
consecutive weeks in the latest AAII Sentiment Survey. This is the longest such
streak since 2004. The percentage of individual investors expecting stock
prices to rise over the next six months rose 4.3 percentage points to 55.9%.
The historical average is 39%.Neutral sentiment, expectations that stock prices
will stay essentially flat over the next six months, fell 2.5 percentage points
to 25.9%. Neutral sentiment has been below its historical average of 31% for 22
consecutive weeks.Bearish sentiment, expectations that stocks prices will fall
over the next six months, slipped 1.8 percentage points to 18.3%. Bearish
sentiment has been below its historical average of 30% for 15 out of the last
17 weeks.Bullish sentiment remains at historically high levels. One example of
this is the eight-week moving average of bullish sentiment, which is above 51%
for the third consecutive week. (It is at 51.4%.) This measure has not been higher
since January 2005. Other measures also suggest sentiment is running hot,
including the spread between bullish and bearish sentiment (37.6 percentage
points) and the standard deviation (bullish sentiment is more than one standard
deviation above the historical mean). High bullish readings have been
correlated with market pullbacks, but other indicators should be analyzed
before predicting where stocks prices are headed.Individual investors are
continuing to feel optimistic about stock prices due to, in part, the sustained
rally and additional signs that the economy is recovering. News of upbeat 2011
forecasts from several market strategists is also playing a role.This week’s
special question asked AAII members whether they are concerned about the potential
impact rising gasoline prices will have the economic recovery.About half of
respondents described themselves as being somewhat worried about rising prices
at the pump. Many did think the economy will grow, though the pace of the
recovery might be slowed. Several members added the caveat that their concerns
are dependent on how high prices actually rise. A small number thought higher
prices would be good for their energy holdings or would increase demand for
fuel-efficient vehicles and other green initiatives. Here is a sampling of the
responses:
This week’s sentiment
survey results:
Historical Averages:
The AAII Sentiment Survey has been conducted weekly since July 1987 and asks AAII members whether they think stock prices will rise, remain essentially flat, or fall over the next six months. The survey period runs from Thursday (12:01 a.m.) to Wednesday (11:59 p.m.). The survey and its results are available online.’
Less
Than 35% of All Stocks Are Undervalued Suttmeier ‘ValuEngine now shows that only
34.6% of more than 5,000 stocks are undervalued with 65.4% overvalued. A
reading below 35% may persist for a while, but typically the stock market tops
out when less than 35% of all stocks are undervalued. Fifteen of 16 sectors are
overvalued by 8.6% for Consumer Discretionary to 33.1% for Basic Industries. Medical
is the undervalued sector, but only by 1.4%. The major equity averages are
extremely overbought on both daily and weekly charts. The missing ingredient
for a top is the lack of nearby risky levels for the major averages. The major
equity averages straddle quarterly value levels, pivots and risky levels
favoring a reversal-oriented first quarter – 11,395 Dow, 1162.5 SPX, 2853
NASDAQ, 4671 Transports and 765.50 Russell 2000. The rise in the 30-year yield
above 4.5% is a major drag on equity valuations. With stock market complacency
as high as it is, Comex gold closed below its 50-day simple moving average at
1380.6 for the first time since August 11. Nymex crude oil is above this week’s
pivot at $88.50. The euro is between its 200-day at 1.3080 and its 50-day at
1.3422, approaching a test of the 200-day. The Dow is well above my annual
pivot at 11,491 without a nearby risky level as the MOJO run continues.
Valuations are stretched with only 16.1% of all stocks undervalued by at least
20%, whereas 33.0% of all stocks are overvalued by more than 20%.[chart](Click to enlarge)
It is
difficult to find stocks to add to the ValuTrader Model Portfolio as only 76 stocks are rated STRONG BUY
or BUY with a market cap of at least five billion and average daily trading
volume of 500,000 shares or more, and projected to gain at least 7.5% over the
next twelve months. There are twelve stocks in the model portfolio.
Key Levels
From My Proprietary Analytics
10-year
Note – (3.483) Weekly,
annual and semiannual value levels are 3.714, 3.791 and 4.268 with a daily
risky level at 3.371. Annual, semiannual and monthly risky levels are 2.690,
2.441, 2.322 and 2.150.
Comex Gold
– ($1373.7) Annual,
semiannual and annual value levels are $1356.5, $1300.6 and $1187.2 with a
weekly pivot at $1380.0. Daily, monthly, quarterly and semiannual risky levels
are $1412.74, $1439.0, $1441.7 and $1452.6.
Nymex
Crude Oil – ($90.30)
Semiannual and monthly value levels are $87.52 and $75.74 with a weekly pivot
at $88.50. Annual, semiannual and quarterly risky levels are $99.91, $101.92,
$107.14 and $110.87.
The euro – (1.3149) Monthly and weekly value
levels are 1.2805 and 1.2703 with quarterly and daily pivots at 1.3227 and
1.3358, and semiannual and annual risky levels at 1.4624, 1.4989, 1.6367 and
1.7312.
Daily Dow: (11,723) Annual, quarterly, weekly,
semiannual, monthly and semiannual value levels are 11,491, 11,395, 11,334,
10,959, 10,427 and 9,449 with a daily pivot at 11,687, and annual risky level
at 13,890.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.’
Retailers
hold down stocks ahead of jobs data (Reuters) - Stocks
slipped on Thursday as soft retail sales and a sharp rise in the dollar left
investors edgy a day before December's U.S. employment report.
U.N.
group warns of possible food crisis (Washington Post) [ Possible? How ‘bout
it’s already begun and hence, inevitable particularly since worldwide with few
exceptions in looking to the u.s. as analogous to the self-destructive
compulsion of an addict or drunk they’ve jumped on the american crazy train,
from perpetual wars, to profligate spending, to over-printing of fiat paper
currencies, to mark to anything burial and cover-up and no-pros of fraudulent
paper schemes of the fraudulent wall street ilk / variety, etc. ] The Food and Agricultural Organization
said Wednesday that the world faces a "food price shock" after the
agency's benchmark index of farm commodities prices shot up last month.
October 15, 2010 (*see infra)
Steven
M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los
Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within
DVD rom autorun disk (which will open in your computer’s browser) as per your office’s
request as made this day (the disk and contents have been scanned by Avast,
McAfee, and Norton which I’ve installed on my computer to prevent viral attacks
/ infection and are without threat). I also include 1 copy of the DVD as filed
with the subject court as referenced therein (which files are also included on
the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil)
RICO action (as you’re aware, the RICO Act is a criminal statute which provides
a civil remedy, including treble damages and attorney fees, as an incentive for
private prosecution of said claims probably owing to the fact that the USDOJ
seems somewhat overwhelmed and in need of such assistance given the seriousness
and prevalence of said violations of law which have a corrupting influence on
the process, and which corruption is pervasive). A grievance complaint against
Coan was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the
horizontal rule are the referenced documents as filed. (Owing to the damage to
the financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would
apply and I would absent resolution seek to refer the within to a firm with
expertise in that area of the law with which I am not familiar).
The
document in 5 pages under penalty of perjury I was asked to forward to the FBI
office in New Haven is probably the best and most concise summary of the
case RICO Summary to FBI Under Penalty
of Perjury at Their Request (5 pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the
Congresswoman by way of email attachment (apparent but typical problem with my
mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm .
With regard to the calls to the FBI’s LA and New Haven, CT offices:
There was one call to the LA office and I was referred to the Long Beach, CA
office where I personally met with FBI Agent Jeff Hayes to whom I gave
probative evidentiary documents of the money laundering which he confirmed as
indicative of same (he was transferred from said office within approximately a
month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in
said correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth
in the case, inter alia,
There is applicable insurance / surety
coverage and neither LA, nor creditors, nor I should continue to have been
damaged by this brazened corrupt and illegal scenario, which should be resolved
in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there
are unresolved problems with the line, computer connection may be the reason
but I hesitate to chance greater non-performance / worsening by their ‘fix’ so
cell phone best for contact).
----------
*The foregoing and as indicated therein was
previously send 9-14-10 but delivery confirmation was flawed as set forth below
and my inquiries to the u.s. postal service rebuffed (I believe tampered with
inasmuch as your office could not locate same). This cover letter (9-13-10) is
on the 3 disks with navigable hyperlinks to the subject files for ease of
reference, including the files in the RICO action as indicated. (10-15-10) I
spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office
has not received the aforesaid and which can reasonably be presumed to have
been tampered with, and hence, a violation of the federal statute concerning
same. ]
The following are 25
unemployment statistics that are almost too depressing to read….
#1 According to the Bureau of Labor Statistics, the
U.S. unemployment rate for November was 9.8
percent. This was up from 9.6 percent in October, and it continues a
trend of depressingly high unemployment rates. The official unemployment
number has been at 9.5 percent or higher for well over a year at this point.
#2 In November 2006, the “official” U.S. unemployment
rate was just 4.5
percent.
#3 Most economists had been expecting the U.S. economy
to add about 150,000 jobs in November. Instead, it
only added 39,000.
#4 In the United States today, there are over 15
million people who are “officially” considered to be unemployed for
statistical purposes. But everyone knows that the “real” number is even
much larger than that.
#5 As 2007 began, there were just over 1 million
Americans that had been unemployed for half a year or longer. Today,
there are over
6 million Americans that have been unemployed for half a year or longer.
#6 The number of “persons not in the labor force” in the
United States recently
set another new all-time record.
#7 It now takes the average unemployed American over
33 weeks to find a job.
#8 When you throw in “discouraged workers” and
“underemployed workers”, the “real” unemployment rate in the state of
California is
actually about 22 percent.
#9 In America today there are not nearly enough jobs
for everyone. In fact, there are now approximately
5 unemployed Americans for every single job opening.
#10 According
to The New York Times, Americans that have been unemployed for five weeks
or less are three times more likely to find a new job in the coming month than
Americans that have been unemployed for over a year.
#11 The U.S. economy would need to create 235,120
new jobs a month to get the unemployment rate down to pre-recession levels
by 2016. Does anyone think that there is even a prayer that is going to
happen?
#12 There are 9
million Americans that are working part-time for “economic reasons”.
In other words, those Americans would gladly take full-time jobs if they could
get them, but all they have been able to find is part-time work.
#13 In 2009, total wages, median wages, and average
wages all
declined in the United States.
#14 As of the end of 2009, less than 12 million
Americans worked in manufacturing. The last time that less
than 12 million Americans were employed in manufacturing was in 1941.
#15 The United States has lost at least 7.5
million jobs since the recession began.
#16 Today, only
about 40 percent of Ford Motor Company’s 178,000 workers are employed
in North America, and a big percentage of those jobs are in Canada and
Mexico.
#17 In 1959, manufacturing represented 28
percent of U.S. economic output. In 2008, it represented 11.5
percent.
#18 Earlier this year, one poll found that 28% of all American households had at least one member that
was looking for a full-time job.
#19 In the United States today, over
18,000 parking lot attendants have college degrees.
#20 The United States has lost a staggering
32 percent of its manufacturing jobs since the year 2000.
#21 As the employment situation continues to stagnate,
millions of American families have decided to cut back on things such as
insurance coverage. For example, the percentage of American households
that have life insurance coverage is at its lowest level in
50 years.
#22 Unless Congress acts, and there is no indication
that is going to happen, approximately 2 million Americans will stop receiving unemployment checks over the next
couple of months.
#23 A poll that was released by the Pew Research Center
back in June discovered that an
astounding 55 percent of the U.S. labor force has
experienced either unemployment, a pay decrease, a reduction in hours
or an involuntary move to part-time work since the economic downturn
began.
#24 According to Richard McCormack, the United States has
lost over
42,000 factories (and counting) since 2001.
#25 In the United States today, 317,000
waiters and waitresses have college degrees.
But this is what we get
for creating the biggest debt
bubble in the history of the world. For decades we have been digging
a deeper hole for ourselves by going into increasingly larger amounts of
debt. In America today, our entire economy is based on debt. Even
our money
is debt. We were fools if we ever thought this could go on forever.
Just think about it. Have you ever gone out and run up a bunch of
debt? It can be a lot of fun sitting behind the wheel of a new car,
running your credit cards up to the limit and buying a beautiful big house that
you cannot afford. But in the end what happens? It always catches up with you.
Well, our collective debt is starting to catch up with us. There is a sea
of red ink on every level of American society. It is only a matter of
time before it destroys our economy. IF YOU THINK THAT
THINGS ARE BAD NOW, JUST WAIT. THINGS ARE GOING TO GET A WHOLE LOT
WORSE. A HORRIFIC ECONOMIC COLLAPSE IS COMING, AND IT IS GOING TO BE
VERY, VERY PAINFUL.’
Timid
Tuesday: Is it Safe? Davis
‘… This is how we pay off our current debts and I think bondholders are
simply happy to get anything out of a country that admits it owes $15Tn (1/4 of
global GDP) but probably owes closer to $60Tn (entire global GDP) in the form
of unfunded liabilities. The funniest thing about this (and you have to laugh)
is to see Conservative pundits get on TV and talk about how we need to cut $100Bn
worth of discretionary spending to "fix" this (while continuing to
spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can’t fool all of the
people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT
THERE! ‘
Short-Term, High-Probability Mean-Reversion Indicator:
Overbought Readings Continue to Increase Crowder ‘It was the best
start to a year in over seven years, but I am not sure how long Monday’s gain
will last, at least over the short-term.According to my High-Probability,
Mean-Reversion overbought/oversold indicator, most of the ETFs I follow have
pushed into a short-term “overbought” to “very overbought” state. As I have
stated ad nauseum, when this many ETFs hit a short-term extreme the market
typically takes a short-term reprieve (1-3 days).The XLB
position that is currently held in the High-Probability, Mean-Reversion
strategy moved in the red Monday although it was only a slight move. The
position, in my opinion, still looks rather well-positioned given the
short-term extreme overbought state of the market and XLB.Since I placed the
trade there have been some incredibly large positions taken in XLB. Someone
sure thinks the Materials sector (XLB) is headed south. Check it out here.The year ended with some nice gains as
the High-Probability, Mean-Reversion strategy made 9.7% gains for the month to
follow up the 3.7% in November. Not bad for the first two months of the
strategy. Hopefully 2011 will bring allow for more gains in the strategy.As I
stated last week, going back over the last seven years, if you purchased QQQQ on the 8th trading day of January and
held until the end of the month, you would have had returns of -2.3%, -3.1%,
-2.3%, -2.7%, -4.1%, -1.6% and -7.7%. The median maximum gain during those
trades was +0.7% compared to a median draw down of -5.3%.
Short-Term
High-Probability, Mean-Reversion Indicator – as of close 1/03/10
Benchmark
ETFs
*
S&P 500 (SPY)
– 86.5 (very overbought) / RSI (2) – 96.5
* Dow Jones (DIA)
–79.5 (overbought)
* Russell 2000 (IWM) – 71.4 (overbought)
* NASDAQ 100 (QQQQ) – 74.5 (overbought)
Sector
ETFs
* Biotech (IBB)
– 62.5 (neutral)
* Consumer Discretionary (XLY)
– 70.5 (overbought)
* Health Care (XLV)
– 72.5 (overbought)
* Financial (XLF)
– 84.2 (very overbought)
* Energy (XLE) – 89.5 (very overbought) / RSI (2) – 98.8
* Gold Miners (GDX)
– 48.5 (neutral)
* Industrial (XLI)
– 80.1 (very overbought)
* Materials (XLB)
– 91.4 (very overbought) / RSI (2) – 95.7
* Real Estate (IYR)
– 85.8 (very overbought) / RSI (2) – 96.0
* Retail (RTH) – 76.2 (overbought)
* Semiconductor (SMH) – 61.8
(neutral)
* United States Oil Fund (USO)
– 64.1 (neutral)
* Utilities (XLU)
– 68.3 (neutral)
International
ETFs
* Brazil (EWZ)
– 82.0 (very overbought) / RSI (2) – 98.7
* China 25 (FXI)
– 72.2 (overbought)
* EAFE (EFA) – 77.4 (overbought)
* South Korea (EWY)
– 91.9 (very overbought) / RSI (2) – 99.1
Commodity
ETFs
* Gold (GLD) – 64.9 (neutral)
Ultra
Extremes
*
Small Cap Bear 3x (TZA)
– 24.6 (oversold)
* Small-Cap Bull 3x (TNA)
– 74.1 (overbought)
* UltraLong QQQQ (QLD) – 75.4 (overbought)
* Ultra Long S&P 500 (SSO) – 90.2 (very overbought)
* Ultra Short S&P 500 (SDS)
– 10.7 (very oversold)
* UltraShort 20+ Treasury (TBT)
– 43.5 (neutral)
Disclosure: I am short XLB.’
U.S.-built
infrastructure is deteriorating (Washington Post) [ At first glance, I
thought this article was miscategorized as a national story in the World
section. Indeed, there’s no denying the truth of the title as america
generally, domestically. Yet, the tragedy is that the tainted, destructive,
self-defeating wars for america have been a boon for war profiteers, frauds of
all stripes, when this defacto bankrupt america is sorely in need of repair,
replacement of its own shoddy, aging infrastructure suffering from the domestic
equivalent of similar scams, kickbacks, shoddy workmanship and all. After all,
it got to the point that they didn’t even go through the motions / façade and
actually flew $12 billion in hundred dollar bills into Iraq which to this day
is unaccounted for / unprosecuted … like the wall street frauds, since the
worthless toxic paper cashed out by wall street is still out there in the
trillions now marked to anything. ] Roads, canals and schools built in
Afghanistan as part of a special U.S. military program are crumbling under
Afghan stewardship, despite new steps imposed over the past year to ensure
reconstruction money is not being wasted, according to government reports.
Is
This a Major Market Top? [ Truth be told, there was a time when I read
Barron’s with great regularity (no more). I never missed Alan Abelson’s
incisively sharp wit and the market laboratory, the latter being supplanted by
readily accessible numerical data on the web. I also don’t recall Alan Abelson
ever being wrong and I don’t think he’s wrong here, particularly when you
consider the costs, fraud, and insanity underlying this manipulated and
inflated stock market which bubble is at best a (contrived) bull cycle in a
secular bear market. ] Roche ‘With economic recovery still in doubt and
sentiment readings at their highest levels since the S&P 500 topped in
2007, some market prognosticators find the latest surge in stocks to have been
irrational. There is now a near universal belief that stocks have but one
direction to go and that has some investors
feeling uneasy. This
weekend’s Barron's showed the diametrically opposing views as two of their
leading columnists (Alan Abelson and Mike Santoli) discussed why they believe
this is a major market top (or not).
Abelson refers to a
certain veteran market technician (whom he doesn’t identify):
And he shares our
concern about the epidemic of optimism that has gripped the Street, manifest in
any number of wildly bullish forecasts for the market in 2011. It is the kind
of explosive optimism that is usually witnessed, he says more in wonder than
rue, at market tops, either temporary or something worse.
He doesn’t buy the
argument that the huge stash of cash supposedly sitting on the sidelines is a
guarantee of a steady source of fuel for the equity rally. Rather, he calls
that hefty pile of cash, which is being augmented by a fresh infusion from
fixed-income investors now that bonds are getting clocked, “scared money.” It
belongs, he elaborates, to folks who all this time have been leery of
committing their dough to stocks but, thanks to December’s quantum leap in
share prices, have grown increasingly fearful of missing the next leg up, and
are itching to put all that scratch to work.
That such nervous-newbie
equity buyers will stay the course and step up their buying after the initial,
inevitable correction is hardly a given. Our bet is that they would jackrabbit
out at the first hint of trouble.
The peerless technician
is also bothered by the leadership of the end-of-the-year rally. More
specifically, the shares of commodity-related companies are in the vanguard of
the advance at a time when China, the big global buyer of virtually every
commodity known to man, is striving to rein in inflation. It is no accident, he
suggests, that Chinese stock markets have been lagging, and he feels they may
prove a pretty good precursor for our own dear market.
In sum, he sees stocks
making at least a temporary top early in the new year. It’s hard to say, he
readily admits, just how bad or enduring a setback equities will suffer. But
obviously, he’s talking something more substantial than a flickering decline or
a tiny crack.
Santoli’s case against a
major market top has been more commonly discussed:
The reasons the bulls
are bullish are also pretty universally agreed upon. The industrial economy has
gathered some momentum, the emerging markets are surging, companies are flush,
profits look set to rise decently again, the Federal Reserve is seeking new
ways to penalize risk aversion, taxes won’t go up and the market tends to do
well in the year after a midterm election.
And we can add to the
list the likelihood that another financial-engineering cycle is just getting
into gear, so expect lots of equity-friendly refinancings by stretched
companies, re-leveraging by cash-rich ones and buyouts hither and yon.
The thing is, it’s all
pretty much true. And because of that, and given that stock valuations are not
excessive, it’s tough to think a likely pullback or worse would signal some
major top.
Indeed, the happy
feeling and the recent climb in margin borrowing and drop in short interest, by
one way of looking at them, simply show that what has been a bull market for
the better part of two years is finally being viewed as one. The last time we
had such a run of investor optimism, indeed, was late 2004, before a calm but
not terribly exuberant year.
The risk, then, is more
about the near term, about expectations of ease meeting some unforeseen
complication early this year, and that what’s likely to be a firm fundamental
and technical case for riskier financial assets in 2011 has, to a fair degree,
been priced in by the market lift of late 2010.
Interestingly, both
appear to agree that the major risk is in the near-term. Santoli, however,
clearly believes any sell-off will prove to be a buying opportunity. Abelson
tends to still be in the bear market camp. Major market top or a prelude to a
continuation of the bull market? Only time will tell.
Source: Barron's’
Tipping Point: 25 Signs That The Coming Financial Collapse Is Now Closer Then Ever The financial collapse that so many of us have been anticipating is seemingly closer then ever. Over the past several weeks, there have been a host of ominous signs for the U.S. economy… ] Decision could make it easier for the bailed-out lender to launch an IPO and repay its government debt.
Pakistan's
top general vexes U.S. plans (Washington Post) [ Geeh! How dare that PAKISTAN General not jump
on the war criminal american crazy train by putting the interests of his nation
ahead of u.s. contrived interests and preventing Pakistan from being turned
into a toxic wasteland, killing fields, etc., as in Iraq, Afghanistan,
etc.. ] Despite intense efforts,
officials fail to persuade Gen. Ashfaq Kayani to undertake the administration's
strategy of eliminating Taliban havens inside Pakistan.
Pay
Attention to New Year Market Indicators [ The problem with these anecdotal,
mechanized (and sophomoric) technical guidelines is that the frauds on wall
street are well aware of them and with the current computer technology can
easily program to meet them with the fraudulent hope they’ll become
self-fulfilling. I disagree with the ‘everything coming up roses, green shoots
and all’ scenarios being painted in typical self-interested fashion and hardly
objective. Even near perma-bull John Augustine (speaking with Motek) looks for
at a minimum, if things go well for the economy (not at all likely and no can
do with real numbers / data) a 3-5% pullback / correction near term. Keep in
mind all stock prices have been inflated by amounts exceeding the gains, viz.,
13-17% by the debased dollar which of course is reflected in huge price
increases for commodities across the board which will impact margins or
consumption or both going forward. ] Plessis ‘If Santa has not yet made his way
to your investment portfolio, don’t despair. According to Jeffrey Hirsch (Stock Trader’s
Almanac), the “Santa Claus Rally” normally occurs during the
last five trading days of a year and the ensuing first two trading sessions of
the new year. During this seven-day period stocks historically tend to advance
(by 1.5% on average since 1950), but when recording a loss, they frequently
trade much lower in the new year.With four of the seven sessions behind us
there has been little in it, with the S&P 500 Index marginally up by 0.09%
and the Dow Jones Industrial Average losing 0.03%.Another old stock market saw
tells us the first five trading days of January sets the course for January
(known as the “First Five Days Early Warning System”), and if the month of
January is higher, there is a good chance the year will end higher, i.e. the
so-called “January Barometer”. Every down January since 1950 has been followed
by a new or continuing bear market or a flat year. “As January goes, so goes
the year,” said Hirsch.Lastly, according to Hirsch, the “December Low Indicator"
says that should the Dow Jones Industrial Index close below its December
low anytime during the first quarter, it is frequently an excellent warning
sign of lower levels ahead. The numbers to watch are those recorded on December
1: 1,206.07 for the S&P 500 Index and 11,255.78 for the Dow Industrial
Average.The American benchmark indices will have to crash today in order to
make 2010 a down year. Early indications therefore point to the January
Barometer (with January having been a down month) this year failing investors.
Looking ahead to 2011, time will tell whether the year-end/new-year indicators
play out according to the historical pattern. Meanwhile, we’ll have some fun
tracking how it pans out.’
Happy
New Year! Here Are The Final Numbers For 2010 , On Friday December 31, 2010
‘Indices mixed today,
but not for the year. Stocks weren't the real winner, however, with commodity
prices booming.
First, today's
scoreboard:
Now, the final
scoreboard for 2010:
Equities:
Check out the best and worst performing global equity indices
in 2010 >
Commodities:
Check out Societe Generale's guide to commodities in 2011
>
Bonds:
Bank of America Merrill
Lynch’s Global Broad Market Index rose 4.7% this year.
Drudgereport: Medicare
Bound to Bust 'by 2017' as First Boomers Hit 65...
POLL:
Only 21% Want FCC to Regulate Internet...
Fear of Political Agenda...
Next
Year's Wars: 16 brewing conflicts to watch...
VIDEO:
Oil Could Push to $110...
Berlin
sees most snow in December since 1900s...
White
House Plans to Push 'Global Warming' Policy, GOP Vows Fight...
FLASHBACK:
Gore Reports Snow and Ice Across World Vanishing Quickly...
Top
China blogger forced to shut down magazine...
Non-US
banks gain from Fed crisis fund; Half of emergency credit facility cash went to
foreign institutions...
Backlash...
THE
MAN WHO TOOK ON BIG SIS... Pilot
angered TSA with video... ‘…News10 established a relationship with the Liu
family last July after their
rental home in Sacramento's Oak Park
was destroyed by an arsonist. Four firefighters were
injured when the house exploded…’
Oil
rises near $92...
Ex-SHELL
president sees $5 gas in year...
MATTHEWS:
Why Doesn't Obama Just Release The Birth Certificate?
NYT:
Bundle Up, It's Global Warming...
Obama
Reading List: Book on Reagan... [ Reagan would absolutely detest,
hate (yes, Reagan could hate ) wobama
and did detest, hate people like failed president like no other in history,
wobama]
Duma
Disses Obama, delays START vote...
Assange
fears death in a US jail...
OPEC
Members 'Target $100'...
China,
following pervasively corrupt, meaningfully lawless, defacto bankrupt american
example, bars political dissident access to lawyers...
Indefinite
detention possible for suspects at Guantanamo Bay...
DARK SIDE OF SIS: AGENTS RAID HOME OF PILOT CRITICAL OF TSA...
Posted Video Exposing Airport Security Flaws...
PUNISHED...
DEFICIT
HITS RECORD...
MINORITY
REPORT: Spielberg advising on rebranding Dems... [ Come on! You
can’t unring the bell on the damage they’ve done by particularly doing the
opposite of what they said, from perpetual war, to no prosecutions of the wall
street frauds now marked to anything as per criminal courtesy via FASB rule
change, etc.. They b*** s*** like their mascot, ‘wobama the b’ (for b*** s***);
not that the republicans are substantially different … they’re incompetent,
corrupt, etc... They’ve embraced the ‘history of decline and fall of
nation-states’. ]
TODAY:
Obama pledges 'singular focus' on economy...
ONE
YEAR AGO: 'Obama to focus hard on economy'...
TWO
YEARS AGO: Obama to put 'renewed focus' on economy...
US
press should fear being targeted: Assange...
BLOWOUT:
Government liabilities rose $2 trillion for year...
PEOPLE:
308,745,538
DEBT:
$13,868,461,000,000
STATE
OF THE NATION: Census shows slowing US growth...
GOP-leaning
states pick up seats in Congress...
NY, OH, IL, MA, NJ and PA lose seats...
FCC
Gives Government Power to Regulate Web...
Agency
splits along party lines...
DeMint
vows to reverse 'Internet takeover'...
AP:
TOP 10 STORIES OF 2010...
MOODY'S May Cut US Rating on Tax Package...
New
spending bill totals $1.1 TRILLION!
Congress
Job Approval Rating Worst in GALLUP History...
FLASHBACK:
Obama Promised 5-Day, Public Review of Bills Before Signing; Signs Tax Bill
Within Hours of House Vote...
13 million get unexpected tax bill from 'tax credit'?
Pelosi
skips vote on tax bill, then shuns signing ceremony...
House
votes to extend gov't funding -- through Tuesday...
OBAMA
FALLS TO 40% APPROVE IN FOXNEWS POLL...
The FCC's Threat to Internet Freedom...
Dems
play politics with 'net neutrality' vote...
'Sweeping
new rules'...
REGULATE...
SHUT:
Music Web Sites Dispute Legality of Their Closing...
UK
ministers threaten: Censor web, or we will legislate 'to protect children'...
Plan
to block all online porn...
Hugo
Chavez defends plan for web regulations...
Venezuela
tightens Internet regulation...
THEY'RE
COMING FOR THE INTERNET!
JULIUS
SEIZURE
$2
trillion debt crisis threatens to bring down 100 US cities...
States
face $140 billion in budget shortfalls...
32
states borrow billions from feds to cover unemployment benefits...
Friedman:
America the Stupid...
French
AAA Grade at Risk as Downgrades Sweep Europe...
Oil Heads
Toward $100...
Chavez
defends plan for Internet regulations...
UK
ministers threaten: Censor web, or we will legislate 'to protect children'...
The
FCC's Threat to Internet Freedom...
Dems
play politics with 'net neutrality' vote...
'Sweeping
new rules for the Internet'...
SKorea
detains Chinese fishermen...
Security
Council meets on tensions...
North
Threatens More Attacks...
...
says war would go nuclear
China
warns of escalating arms race...
'Don't ask' repeal moves toward law...
DREAM OVER: Senate Blocks Bill for Illegal Immigrants...
Budget
Brawl Looms in Congress...
Michelle
wears $2,500 purchased dress to Christmas concert...
Senate
Plans Weekend Votes on 'Don't Ask, Don't Tell,' Amnesty Bill...
Senator:
Gay ban tied to Russia treaty...
UN
PLANS INTERNET REGULATION [ Those
who can’t do … work at the u.n., in the u.s.; after all, for the first time in
human history, the internet has for the most part enabled an unfettered look at
the truth and truthful reasons for the unequivocally sad state of the world.
That a supposed world body should support and potentially facilitate the
encroachment upon such global communication is reason enough to dismantle such
an already discredited body which arbitrarily seeks enforcement of some
‘resolutions’ as to some but not others ( ie., israel, u.n. resolutions 242, 338,
etc., israeli and american war crimes, etc..) Raison d’tre … I don’t think
so! Quite the contrary! ]
Regulators
close banks in GA, FL, AR, MN... [ Regulators shutter 3 small banks in Ga., 1 each in
Fla., Ark., Minn.; 157 banks closed in 2010 ]
Payrolls Drop in 28 States, Joblessness Rises in 21...
Nevada rate to 14.3%...
Rhode Island City Nears Bankruptcy...
Ireland Debt Downgrade...
IMF chief worried about Europe domino effect...
Senate
clerks preparing to read 1,924-page spending bill on floor -- for 50 hours!...
Senator:
'There's No Way' To Read Entire Bill Before Vote...
KERRY:
'Why Would We Have To Read Something?'
McConnell
offers 1-page resolution in place of 1,924-page spending bill...
SHOWDOWN:
Gingrich Urges Fillibuster...
Biden
To GOP Opposition: 'Get Out Of The Way'...
Reid:
Earmarks are 'what we're supposed to do'...
Ban on Gitmo transfers vanishes...
Omnibus
bill loaded with goodies for abortion industry...
PRIORITIES:
House approves bill to make hybrids louder...
23%
Say USA Heading in Right Direction, Lowest Since Obama Took Office...
POLL:
Just 29% think Obama will be re-elected...
Is
America the sick man of the globe?
BUCHANAN:
Is this our America anymore?
UK
Red Cross Bans Christmas to Avoid Offending Muslims...
SALVATION
ARMY bell ringer caught stealing from kettle...
Deputies
suspended after getting into brawl at party...
2
women charged with robbing 74-year-old...
Hundreds
of gifts for kids stolen from 'Toys for Tots'...
Thousands
of dollars in donated toys ruined after skunk attack...
Grocery
prices grow by 1.5 times inflation rate...
Socialist
president plays host to capitalism...
REPORT:
Obama told lawmakers not passing tax deal could end presidency...
A
$48 billion earmark...
PAPER:
Year of bullying, bluff and bailouts leaves euro fighting for its life...
Reeling
from riots, Italy faces uncertainty...
Greek
anti-austerity strike turns violent...
VIDEO...
MORE
UNREST: 2011...
$575
million PER PAGE...
6,488
earmarks...
McConnell
fumes: 'No one has seen it'...
Reid threatens to keep Congress into next year...
Intelligence
Reports Offer Dim Views of Afghan War...
HOLBROOKE
LAST WORDS: STOP THIS WAR!
UPDATE:
RUSSIA TO USE CHINA CURRENCY IN TRADES...
UK
GRANTS ASSANGE BAIL; SWEDEN APPEALS...
Release
delayed...
Lawyer:
Secret Grand Jury Meeting Outside Washington on Leak...
CHRISTMAS CRIMES: Drive-By
Purse Snatcher Terrorizing Women In NJ...
2
women charged with robbing 74-year-old...
Hundreds
of gifts for kids stolen from 'Toys for Tots'...
Thousands
of dollars in donated toys ruined after skunk attack...
Copper
thieves burn down city's Christmas tree...
Burglar
steals family's gifts -- and its dog!
Grave
robbers steal 400 urns from cemetery...
'Grinch'
Steals Packages Off Doorsteps, Signs For Deliveries...
Home
Invaders Tie Up 12-Year-Old Boy, Take Video Games...
90-Year-Old
Man Put In Choke-Hold, Robbed Of $370...
'Tea
Party' anger simmers over backroom deal; Ramps up efforts...
2
Bank Failures Bring Year's Tally To 151...
COPS: Madoff's son hangs himself with dog collar in SoHo
apartment...
...gave mechanic $400 tip day before suicide
Madoff
Trustee Launches $19.6 Billion Lawsuit; 60 accused of participating in 'illegal
scheme'...
Pump
prices close in on average $3 a gallon...
FLASHBACK:
$1.81 when Obama took office...
BLOW
TO O: JUDGE RULES GOV'T CAN'T MANDATE CITIZENS BUY HEALTH CARE...
Cantor:
Direct Appeal to Supremes...
POLL:
Support For Obamacare Hits New Low...
Pelosi:
'Are You Serious?'
Obama: 'I'm itching for a fight'...
U
N C O N S T I T U T I O N A L
Barbara
Walters: 'This Guy (wobama) Has an Emotional Problem' [ Yes, it’s true,
babawawa … wobama has substantial mental problems which along with inherent
criminality are pervasive in america which also includes boner, and where were
you in discussing such, babawawa regarding psychopaths bush, clinton, etc., or
even former beau, senile greenspun ]...
DEFICIT
HITS RECORD...
Putin Slams West for Assange Arrest...
US
cable: Cuba to be insolvent within 2-3 years...
Assange
Lawyers Prepare for U.S. Spying Indictment...
Teen
Arrested in Hack Attacks...
Donations
to WIKILEAKS are Tax Deductible -- in Germany...
Anonymous
cyberwarriors stun experts...
Media
outlets may be probed over WikiLeaks stories, joe ‘zelig zionist incompetent
and corrupt‘ lieberman in Campaign To Trample The First Amendment claims Can the US government prosecute media outlets
that reported on the WikiLeaks cables? According to joe ‘zelig zionist
incompetent and corrupt‘ lieberman in
his Campaign To Trample The First Amendment, the answer is maybe.
Home
Values May Drop by $1.7 Trillion This Year...
UNEMPLOYMENT
WEEK: DOWN TO 421,000; REVISED UP LAST WEEK 438,000...
POLL:
Most Americans Say They’re Worse Off Under Obama...
F
O [Related: Olbermann:
Obama Is ‘God Damned Wrong’ ]
REVENGE
OF THE WIKIS!
Army
of hackers targets the Swedish government...
Take down
MASTERCARD site...
...VISA
PAYPAL...
AMAZON
braces for hactivist attack...
Palin
under cyber attack...
Assange's
'poison pill' file impossible to stop...
MOSCOW:
Give Assange Nobel Peace Prize...
SENATE REJECTS REPEAL OF DON'T ASK DON'T TELL...
House
Dems push through massive budget bill...
Final
House Race Decided; GOP Net Gain: 63 Seats...
Ron
Paul, Author of 'End the Fed,' to Lead Fed Oversight Panel...
Student
protesters in London turn violent over tuition hikes...
Thousands
try to break through police barricades at Houses of Parliament...
...attack car containing Prince Charles, Camilla...
Rolls
Royce hit with paint; rear window smashed...
US Treasuries hit by biggest sell-off since
LEHMAN...
Prices Plunge for 2nd Day on Deficit Fears...
Rattles investors...
Oil tipped to bubble over $100 barrel...
Food Stamp Rolls Continue to Rise...
SHOCK POLL: Americans Believe China Has Surpassed USA
in Economic Strength...
'U.S. fiscal health worse than Europe's'...
Sorkin: Palin TV show is 'snuff movie'... [ Yeah … ‘she’s really all that’ and worse …
I have great difficulty getting past the fact that she’s so incredibly dumb …
not just ‘nonintellectual’ … butt really dumb! ] ‘… Sorkin, writer of the recent Facebook movie The
Social Network, also accused the Fox News contributor of making a "snuff
film" after the latest episode of Sarah's Palin's Alaska featured the
politician going hunting with her father and shooting a caribou. He described
Palin as "deranged", a "witless bully" and a "phony
pioneer girl". He also said The Learning Channel, the US cable network,
"should be ashamed of itself" for broadcasting her "truly awful
reality show"…’
Senate convicts Clinton-appointed judge...
[ Come on! One way or another they’re almost all getting bribed; including the
initial lifetime appointment as alito, trump-barry, etc.. Abolish the
corrupt, costly, economically wasteful lifetime extravagantly appointed federal
courts (see RICO case http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ) End those lifetime licenses to steel. ] In earlier hearings, two attorneys who once worked
with Porteous had testified that they gave him thousands of dollars in cash,
including about $2,000 stuffed in an envelope in 1999, just before Porteous
decided a major civil case in their client's favor.
Assange could face espionage trial in USA...
Palin under cyber attack...
1st Amendment issues...
Assange's 'poison pill' file impossible to stop...
WIKILEAKS: Stop Us? You'll Have to Shut Down Web...
Berkeley 'resolution' honoring leaker...
Scientologists outraged over spoof Christmas play... [ Hubbard was such a total fraud!
Scientologists are delusional! ]St. Petersburg, Florida – ‘A controversial holiday
musical production is set to open at American Stage Theatre in St. Petersburg. Photos: Pictures of
A Very Merry Unauthorized Children's Scientology Pageant "A
Very Merry Unauthorized Children's Scientology Pageant" is a musical play
designed for the holiday season, but this play will not focus on Jesus Christ,
but instead the story is about L. Ron Hubbard, the founder of the church Of
Scientology…’
NO BAIL...
Assange
'sabotaged condom' during one night stand...
Refused to wear one during another...
Stockholm police: Both women are victims...
INTERPOL WARRANT FOR NOT WEARING PROTECTION?
ASSANGE
UNDER ARREST:
'HE
DIDN'T WEAR A CONDOM'
Under
arrest, will Assange dump the Doomsday Files?
Assange:
Don't shoot messenger for revealing uncomfortable truths...
FLASHBACK:
HILLARY COMPLAINS GOVERNMENTS BLOCK FREE FLOW OF INFO ON INTERNET...
WIKILEAKS:
LIVE UPDATES...
FCC
push to regulate news draws fire...
Lieberman:
NYT may have committed crime by printing WIKILEAKS docs...
US
to Host World Press Freedom Day in 2011 … [ What a total travesty! The u.s. as
host … What a cruel joke! ] ...
OBAMA
RACES TO CUT TAXES BEFORE REPUBLICANS: 6.2% Social Security tax would drop to
4.2% for workers for one year... MORE
THE
NEW OBAMA!
SURPRISE TAX CUT
MOVE [ As with defacto bankrupt america
generally, more defacto bankrupt social security system, etc., are distinctions without significant
differences. ]
OIL
HITS $89...
Pump
prices hit 2-year high...
Schwarzenegger Declares Fiscal Emergency, Proposes $9.9 Billion In
Cuts...
Top
Democrats defect, join unified GOP...
WIKILEAKS'
Assange Will Release Encrypted Files If Arrested...
Cables
Reveal How US Manipulated Climate Accord...
Cable:
China Leaders Ordered Hacking on GOOGLE...
Meddling
by Neighbors Adds to Iraq's Woes...
Government
Workers Ordered Not to Read Cables...
Gingrich:
Leaks Show Admin 'Shallow,' 'Amateurish'...
McConnell:
Assange a 'High-Tech Terrorist'...
List of facilities 'vital to US security' leaked...
Mirror
Sites Appear by the Hundreds...
Assange
Speaks...
Hillary
Jokes...
US
forced to shake up embassies around world...
THE
DOOMSDAY FILES
PAPER:
Wave goodbye to Internet freedom...
[ I’m absolutely astounded that the world
is not profoundly grateful to Assange et als for providing insight into the
machinations and insanity of pervasively corrupt, defacto bankrupt america, et
als who wreaked havoc on the world as they pillage, plunder, and destroy
(lives, nations, etc.). ]
+39,000 JOBS IN NOVEMBER...
BOEHNER: Dem Leaders Should Stop Wasting Time on Tax Hike
Votes...
HALPERIN: Dems 'In Midst of Nervous Breakdown'...
Obama Makes Surprise Trip to Afghanistan...
Flies 7,000 miles -- talks to Karzai for 15 minutes on
phone!
Forgets the Coast Guard...
Leaves Biden behind to handle 'disappointing' jobs
report...
Reid, funded by casinos, pushes online gambling...
ABCNEWS accused of breaking embargo...
2010
death toll of US troops nears that of 2001-2008 combined...
OBAMA SPEECHWRITER JOKES ABOUT TSA GROPING: Allows
'defrocked priests to give back to society'...
US
Deficit-Cutting Plan Falls Short of Needed Votes...
UNEMPLOYMENT UP TO 9.8%
HILLARY: Secretary of State will be 'my last public
position'... ... PITCHE$ $IGNED DVD ON HOME $HOPPING NETWORK..
US TO BAILOUT EU
[ Riiiiight! Sounds like a plan! After all, in defacto bankrupt america money
does grow on trees … derivatively (pun intended) that is … you know … that ever
more worthless fiat paper currency … and ultimately, existentially,
philosophically, doesn’t paper come from trees … sure it does …so, no problemo
since money grows on trees. ]
BOMBSHELL: European banks took big slice of
Fed aid...
Hundreds of billions of dollars...
Fed reveals global extent of its backing...
]Funds went to stalwarts of
American industry including GE and Caterpillar and household-name companies
such as Verizon, new data show.
GEORGIA: HUNDREDS LINE UP IN COLD FOR HEAT HELP...
Assistance Funds Quickly Depleted...
'Almost like being in soup line during great
depression'...
VIDEO...
DELAYING TAX VOTE COULD 'CRASH
STOCK MARKET' STARTING 12/15 [ Come on! There’s no way to justify
the tax cut to the top 1% including the frauds on wall street … their threats
don’t hunt no more … the nation’s defacto bankrupt … see Davis, supra! ]
Chase Bank orders branch to remove Christmas tree...
Cyber attack forces WIKILEAKS to change web address...
Respected media outlets collaborate with
organization... [ Said
outlets and other disseminators and of course Wikileaks deserve accolades for
the advancement of first amendment liberties in the name of an informed global
body politick for all.]
UPDATE: Latest developments...
Foreign contractors hired Afghan 'dancing boys'...
Embassy cables portray Karzai as corrupt, erratic...
CIA drew up UN spying wishlist...
Assange speaks...
UPDATE: Latest WIKILEAKS developments...
Foreign contractors hired Afghan 'dancing boys'...
Embassy cables portray Karzai as corrupt, erratic...
CIA drew up UN spying wishlist...
SANTA CLAUSE: FED AID WENT TO COMPANIES, BANKS,
OFFSHORE...
SECRETLY BAILED OUT GE -- GE NEWS OUTLETS FAILED TO
REVEAL IN FED COVERAGE...
SANTA CLAUSE: FORD, BMW, TOYOTA Took Secret Government
Money......
Fed Created Conflicts in Improvising Financial System
Rescue...
Tax Breaks for Bailout Recipients Spark Debate...
MORE SECRETS: Fed Withholds Data for $885 Billion in
Loans...
RUSSIA TO HOST '18 WORLD CUP FINALS...
Qatar selected '22 host over USA, others...
'AMERICAN
PSYCHO' musical in works... [ I recommend the derivative films,
American Psycho and American Psycho 2,
for insight! ]
National Board of Review: SOCIAL NETWORK named best
film... [ National board of what? ‘Inception’ is by
far and away the ‘Best Film’ across the board, in all categories, and on the
list! ]
LIST...
BANK OF AMERICA Becoming 'Bank of Asia' as
Revenue Increases 30% ...
RESET: PUTIN CRITICIZES USA OVER WIKILEAKS … [ Putin
deserves the greatest deference in matters of global concern in light of his
greater rationality; america’s self-serving accusations are merely envy and
projection / displacement (in psychoanalytic terms) of america’s pervasively
corrupt, criminal, broken system which is a far cry in reality from defacto
bankrupt america’s propaganda.]...
REWARD: [ The payoff. Bribe complete! Next bribe
scenario … ] CITI to Hire Obama's Ex-Budget Chief Orszag...
FLASHBACK: Rubin and friends ride NY-DC shuttle...
ZUCKERMAN: Watching America's Decline and Fall [the moral authority of the West has
dramatically declined in the face of the financial crisis. It has revealed deep
fault lines within Western economies that have spread to the global economy. The majority of Western governments
are running fiscal deficits of 10 percent or more relative to
GDP, but it is increasingly clear that there will be no quick fixes, that big
government and fiscal deficits will not bring us back to the status quo ante.
Indeed, the tidal wave of red ink has meant that the leverage-led or
debt-led growth model is dead. Developed countries will be forced to deal with
their debt on every level, from the personal to the corporate to the sovereign.
Being able to borrow may have made people feel richer, but having to repay the
debt is certainly making them feel poorer, particularly since the unfunded
liabilities that many governments face from aging populations will have to be
paid for by a shrinking band of workers. (Ecoutez, mes amis!) Demography is destiny. As a result,
there is a burgeoning consensus that we are witnessing an inevitable rise of
the East and a decline of the West…( Harry
Dent, Jr. Economy will be in a Depression
by 2011
The
worst of this next depression is likely to hit between mid-2010 and mid-2013,
especially around early 2011, but if the banking system continues to implode a
deep downturn or depression could begin sometime in 2009 instead of 2010.
Dow
will Fall to 3,800 – 4,500 by 2012
Nasdaq
will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest.
Inflation
will Increase until mid- 2010 and then turn to Deflation
Interest
Rates will Increase
U.S.
Dollar will Decline
Housing
will Decline by 40 – 60% from Today’s Levels
Greatest
Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012). ) ]...
Interpol issues wanted notice for Julian
Assange [ They just can’t take the truth! ] ...
US cuts access to files [ Think about it. Really think
about it. Their policies are in the tank, along with the nation and the rest of
this world as a consequence. Don’t those so detrimentally affected (everyone)
have a right to know? I think in light of the global frauds, contrived
perpetual wars though defacto bankruptcy of this and other nations, pervasive
corruption and crime, failed policies domestically and geo-politically while
serving the very parochial interests of the self-interested few, the answer is
an unequivocal, YES! I believe that world history will write Mr. Assange as a
hero in the truest sense. He should be given a medal; and, certainly, since mr.
b*** s*** wobama undeservingly got a ‘nobel peace prize’ (what he does, not
what he says, ie., Afghanistan, etc.), who more than Julian Assange is
deserving of that and more? Cover-up / propaganda … thy name is fallen
america.]...
WIKILECTURE: 'HILLARY SHOULD
RESIGN' ‘…Hillary Clinton, Julian Assange said, "should resign."
Speaking over Skype from an undisclosed location on Tuesday, the WikiLeaks
founder was replying to a question by TIME managing editor Richard Stengel over
the diplomatic-cable dump that Assange's organization loosed on the world this
past weekend. Stengel had said the U.S. Secretary of State was looking like
"the fall guy" in the ensuing controversy, and had asked whether her
firing or resignation was an outcome that Assange wanted. "I don't think
it would make much of a difference either way," Assange said. "But
she should resign if it can be shown that she was responsible for ordering U.S.
diplomatic figures to engage in espionage in the United Nations, in violation
of the international covenants to which the U.S. has signed up. Yes, she should
resign over that."…’
CITY ON EDGE: Cash-Strapped Newark, new jersey Forced
To Lay Off 14% Of Police Force... [ From decades old
(1978-1985) direct personal experience with newark, n.j., the police are the
absolute last cuts that can be afforded to be made. Indeed, while walking through
Military Park (a sliver of a “park” - more a pedestrian thoroughfare/cement
walks) in newark, new jersey on the way to the bank during lunch hour, I heard
the clearly audible screams/cries of what turned out to be an old lady on the
ground with blood streaming from her mouth. I ran toward the sound of the
cries, the source of which I could not see because there were so many people in
and about this thoroughfare so as to block any vision of the source of the
cries. When I came to the woman, on the ground, blood streaming from her mouth,
I asked what happened, to which she responded she had been hit in the mouth and
knocked to the ground, her purse stolen/put inside her shopping bag, and she
pointed out the criminal casually now walking across the main street. Nobody
stopped to help her, many having passed her by. I slammed the thug to the
ground so hard that, in light of all the blood and confusion (limbic system /
adrenalin flow) I thought I had been stabbed (the blood was from his elbows
hitting the pavement so hard - no one helped / a crowd gathered / an undercover
cop happened along). When I testified at the Grand Jury Proceeding I made sure
his threat on my life was set forth in prima facie fashion so as to
maximize the DA’s position with both felonies ( he went to prison – pled out ).
The other case I wrote about here ( This was included on my website in the
Psychology forum discussion of ‘bystander effect’ / diffusion of
responsibility. ) - Having had occasion to have run down a mugger in newark, n.j.
who apparently had followed a girl from the bank on her way to the bursar to
pay tuition, though in pretty good shape, I was astounded by how totally
exhausting such a pursuit was, how much like rubber my arms were when I traded
punches with the perpetrator, and truth be told, if I had a flashlight on my
belt, I have little doubt that I would have probably used it to subdue the
perp. The girl was not that seriously injured, did get her pocketbook and
tuition back, and the criminal went to jail. The other thing about such a
pursuit that amazed me was that no one else assisted the girl or me despite
being in a position to do so). (Other newark / new jersey and new york, n.y.
metro, viz., ie., connecticut, and of course, d.c., d.c. metro, viz., ie.,
virginia experience … corrupt federal judges as maryanne trump barry, sam
alito, shiff, matz (california), hall, underhill, dorsey, etc.. Defacto
bankrupt america’s so-called system is pervasively corrupt and broken (AP) Abolish the corrupt, costly, economically wasteful
lifetime extravagantly appointed federal courts - see RICO case http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ) ]
Nation's '2nd Most Dangerous City' (camden, new
jersey) To Lay Off Nearly Half Of Police Force...
Chicagoland: Vandals torch Christmas charity van...
Businessman
gets harsh prison term (Washington Post) [ Come on! Quality of justice
concerns by pervasively corrupt / defacto bankrupt america (I’ve seen this
first hand and have sworn under penalty of perjury to the readily discernible
corruption in the ‘so-called judicial process’ / american illegal system; and
Orwellian britain / european illegal systems little better as toadies to the
criminal americans)? Don’t make me laugh? The u.s. illegal system is a cruel
joke! What parallel universe / fantasy land are they living in? ] A Moscow judge's decision to impose the
harshest possible penalty on Russian oil tycoon Mikhail Khodorkovsky signaled
that Prime Minister Vladimir Putin intends to keep a firm grip on power and is
unwilling to bend to American and European concerns about the quality of
Russian justice.
October
15, 2010 (*see infra)
Steven
M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los
Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within
DVD rom autorun disk (which will open in your computer’s browser) as per your
office’s request as made this day (the disk and contents have been scanned by
Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral attacks
/ infection and are without threat). I also include 1 copy of the DVD as filed
with the subject court as referenced therein (which files are also included on
the aforesaid 3 disks in a separate folder named ‘112208opocoan’). The (civil)
RICO action (as you’re aware, the RICO Act is a criminal statute which provides
a civil remedy, including treble damages and attorney fees, as an incentive for
private prosecution of said claims probably owing to the fact that the USDOJ
seems somewhat overwhelmed and in need of such assistance given the seriousness
and prevalence of said violations of law which have a corrupting influence on
the process, and which corruption is pervasive). A grievance complaint against
Coan was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the horizontal
rule are the referenced documents as filed. (Owing to the damage to the
financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would
apply and I would absent resolution seek to refer the within to a firm with
expertise in that area of the law with which I am not familiar).
The
document in 5 pages under penalty of perjury I was asked to forward to the FBI
office in New Haven is probably the best and most concise summary of the
case RICO Summary to FBI Under Penalty
of Perjury at Their Request (5 pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the
Congresswoman by way of email attachment (apparent but typical problem with my
mail) along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm .
With regard to the calls to the FBI’s LA and New Haven, CT offices:
There was one call to the LA office and I was referred to the Long Beach, CA
office where I personally met with FBI Agent Jeff Hayes to whom I gave
probative evidentiary documents of the money laundering which he confirmed as
indicative of same (he was transferred from said office within approximately a
month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in
said correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth
in the case, inter alia,
There is applicable insurance / surety
coverage and neither LA, nor creditors, nor I should continue to have been
damaged by this brazened corrupt and illegal scenario, which should be resolved
in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there
are unresolved problems with the line, computer connection may be the reason
but I hesitate to chance greater non-performance / worsening by their ‘fix’ so
cell phone best for contact).
----------
*The foregoing and as indicated therein was
previously send 9-14-10 but delivery confirmation was flawed as set forth below
and my inquiries to the u.s. postal service rebuffed (I believe tampered with
inasmuch as your office could not locate same). This cover letter (9-13-10) is
on the 3 disks with navigable hyperlinks to the subject files for ease of
reference, including the files in the RICO action as indicated. (10-15-10) I
spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office
has not received the aforesaid and which can reasonably be presumed to have
been tampered with, and hence, a violation of the federal statute concerning
same. ]
-----
Former
president convicted of rape (Washington Post) [ Between the orgies, war crimes,
assassinations, etc., what a bunch of sick perverts, criminals the israeli
operatives / powers that be and their friends are; see, ie., Victor Ostrovsky Mossad ebook download in PDF format
September: Victor Ostrovsky, a former Mossad
trainee, publishes his book
By Way of Deception ... Israel's Mossad has regularly faked
Australian passports for its. spies,
… 1 http://khup.com/keyword/victor-ostrovsky-mossad-by-way-of-deception.html 2 http://khup.com/keyword/page-2/victor-ostrovsky-mossad-by-way-of-deception.html 3 http://khup.com/keyword/page-3/victor-ostrovsky-mossad-by-way-of-deception.html ]
An Israeli court finds former president Moshe Katsav guilty of rape,
indecent assault and sexual harassment of female subordinates, the most serious
conviction of a former top official in Israel's history
Economic
forecasters see growth in 2011 (Washington Post) [ Growth indeed … in the deficits that is … and
in insurmountable fashion at that … which masks / obfuscates in the short-term
the weakness and structural shift in the worst economic terms imaginable while
benefiting the self-interested few (ie., frauds on wall street, war profiteers,
the ‘already campaigning for the next election’ pols, etc.. The trade-off is
far from commensurate.
The Economic Collapse
Dec 17, 2010
The financial collapse
that so many of us have been anticipating is seemingly closer then ever.
Over the past several weeks, there have been a host of ominous signs for the
U.S. economy. Yields on U.S. Treasuries have moved up rapidly and Moody’s
is publicly warning that it may have to cut the rating on U.S. government debt
soon. Mortgage rates are also moving up aggressively. The euro and
the U.S. dollar both look incredibly shaky. Jobs continue to be shipped
out of the United States at a blistering pace as our politicians stand by and
do nothing. Confidence in U.S. government debt around the globe continues
to decline. State and local governments that are drowning in debt across
the United States are savagely cutting back on even essential social services
and are coming up with increasingly “creative” ways of getting more money out
of all of us. Meanwhile, tremor after tremor continues to strike the
world financial system. So does this mean that we have almost reached a
tipping point? Is the world on the verge of a major financial collapse?
Let’s hope not, but with
each passing week the financial news just seems to get eve worse. Not
only is U.S. government debt spinning wildly toward a breaking point, but many
U.S. states (such as California) are in such horrific financial condition that
they are beginning to resemble banana republics.
But it is not just the
United States that is in trouble. Nightmarish debt problems in Greece,
Spain, Portugal, Ireland, Italy, Belgium and several other European nations
threaten to crash the euro at any time. In fact, many economists are now
openly debating which will collapse first – the euro or the U.S. dollar.
Sadly, this is the
inevitable result of constructing a global financial system on debt. All
debt bubbles eventually collapse. Currently we are living in the biggest
debt bubble in the history of the world, and when this one bursts it is going
to be a disaster of truly historic proportions.
So will we reach a
tipping point soon? Well, the following are 25 signs that the financial
collapse is rapidly getting closer….
#1 The official U.S. unemployment rate has not been
beneath 9 percent since
April 2009.
#2 According to the U.S. Census Bureau, there are
currently 6.3
million vacant homes in the United States that are either for sale or for
rent.
#3 It is being projected that the U.S. trade deficit
with China could hit 270 billion dollars
for the entire year of 2010.
#4 Back in 2000, 7.2 percent of blue collar workers
were either unemployed or underemployed. Today that figure is up
to 19.5 percent.
#5 The Chinese government has accumulated approximately
$2.65 trillion in
total foreign exchange reserves. They have drained this wealth from the
economies of other nations (such as the United States) and instead of
reinvesting all of it they are just sitting on much of it. This is
creating tremendous imbalances in the global economy.
#6 Since the year 2000, we have lost 10% of our middle class jobs. In the
year 2000 there were approximately 72 million middle class jobs in the United
States but today there are only about 65 million middle class jobs.
#7 The United States now employs about the same number
of people in manufacturing as
it did back in 1940. Considering the fact that we had 132 million
people living in this country in 1940 and that we have well over 300 million
people living in this country today, that is a very sobering statistic.
#8 According to CoreLogic, U.S. housing prices have now
declined for
three months in a row.
#9 The average rate on a 30 year fixed rate mortgage soared
11 basis points just this past week. As mortgage rates continue to
push higher it is going to make it even more difficult for American families to
afford homes.
#10 22.5 percent of all residential mortgages in the
United States were in negative equity as of the end of the third quarter
of 2010.
#11 The U.S. monetary base has
more than doubled since the beginning of the most recent recession.
#12 U.S. Treasury yields have been rising steadily
during the 4th quarter of 2010 and
recently hit a six-month high.
#13 Incoming governor Jerry Brown is scrambling to find
$29 billion more to cut from the California state budget. The
following quote from Brown about the desperate condition of California
state finances is not going to do much to inspire confidence in California’s
financial situation around the globe….
“We’ve been living
in fantasy land. It is much worse than I thought. I’m shocked.”
#14 24.3
percent of the residents of El Centro, California are currently unemployed.
#15 The average home in Merced, California has declined
in value by
63 percent over the past four years.
#16 Detroit Mayor Dave Bing has come up with a new way
to save money. He wants to cut 20
percent of Detroit off from essential social services such as road repairs,
police patrols, functioning street lights and garbage collection.
#17 The second most dangerous city in the United States
– Camden, New Jersey – is about to lay off about
half its police in a desperate attempt to save money.
#18 In 2010, 55
percent of Americans between the ages of 60 and 64 were in the labor
market. Ten years ago, that number was just 47 percent. More older
Americans than ever find that they have to keep working just to survive.
#19 Back in 1998, the United States had 25 percent of
the world’s high-tech export market and China had just 10 percent. Ten years
later, the United States had less than 15 percent and China’s share had soared to 20 percent.
#20 The U.S. government budget deficit increased to a
whopping $150.4 billion last month, which represented the biggest November budget deficit on record.
#21 The U.S. government is somehow going to have to roll
over existing debt and finance new debt that
is equivalent to 27.8 percent of GDP in 2011.
#22 The United States had been the leading consumer of
energy on the globe for about 100 years, but this past summer China took over the number one spot.
#23 According to an absolutely stunning new poll, 40 percent of all U.S. doctors plan to bail out of the
profession over the next three years.
#24 As 2007 began, there were just over 1 million
Americans that had been unemployed for half a year or longer. Today,
there are over
6 million Americans that have been unemployed for half a year or longer.
#25 All over the United States, local governments have
begun instituting “police response fees”. For example, New York Mayor
Michael Bloomberg has come up with a plan under which a
fee of $365 would be charged if police are called to respond to an
automobile accident where no injuries are involved. If there are injuries
as a result of the crash that is going to cost extra.
Timid
Tuesday: Is it Safe? Davis
‘… This is how we pay off our current debts and I think bondholders are
simply happy to get anything out of a country that admits it owes $15Tn (1/4 of
global GDP) but probably owes closer to $60Tn (entire global GDP) in the form
of unfunded liabilities. The funniest thing about this (and you have to laugh)
is to see Conservative pundits get on TV and talk about how we need to cut
$100Bn worth of discretionary spending to "fix" this (while
continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1%
each year). There is no fixing this and even a Republican said you can’t fool
all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT
THERE! ‘
5
More Themes for 2011 Suttmeir ‘5 themes for 2011 (6 more are on their way):
Tracking the US Capital
Markets – US stocks are overvalued
fundamentally and overbought technically on both daily and weekly charts. The
snow storm causes stocks to drift lower and higher.
Here are my remaining
themes for 2011 – Six through Eleven (a
continuation of 1-5)
6. QE2, the $600 billion
program where the Federal Reserve buys long dated US Treasury Securities has
been a failure so far. The yield on
the 10-Year was 2.334 when Fed Chief Bernanke touted QE2 in October only to see
the yield nearly 125 basis points higher in December. The primary intent of QE2
was to lower longer-dated US Treasury yields. Yields held this week’s value
level at 3.494 again on Wednesday. There is risk to 3.75 to 4.25 in 2011,
but with or without this weakness, the 10-Year yield will decline to 2.75 to
2.50 during 2011.
7. Comex Gold has gone
parabolic, and therefore you cannot predict how high gold prices can climb. I do know that corrections will be fierce and painful
for those that buy strength instead of weakness. The 2011 neutral zone is
between $1350 and $1450.
8. Nymex Crude Oil is
headed back above $100 per barrel according to most experts. I cannot rule that out for 2011, but the downside is
more significant given weekly closes below the $87 per barrel area. If gasoline
stays above $3.00 per gallon demand on Main Street will slow down and will be a
drag on economic growth and job creation.
9. Problems among the
PIIGS nations denominated in euros will trump problems at the state level in
the USA. This will keep the euro
versus the dollar in a trading range. We will begin 2011 with a quarterly
pivot around 1.3150.
10. US stocks show
strong technical characteristics. The
S&P 500 is above the 61.8% Fibonacci Retracement of the decline from
October 2007 to the low of March 2009 at 1228.74. Dow Theory had a Buy Signal
in early November and another confirmation in December. The Dow Industrial
Average – I project downside to 9,375 in the first half with a rebound to
11,500 in the second half. Strength above 11,500 will return to 11,500, and the
2011 close will be at or below 11,500.
11.ValuEngine.com
indicates that equity fundamental are not cheap. Fifteen of sixteen sectors will begin 2011 overvalued
according to ValuEngine. The normal range for the percent undervalued or
overvalued stocks is 35% to 65%. We will begin 2011 close to the low end of the
range for undervalued stocks and towards the high end for overvalued stocks. Because
of the battle between the technicals and fundamentals, stocks will be
reversal-oriented in 2011 and be little changed year over year.
Tracking the US Capital
Markets – US stocks are overvalued
fundamentally and overbought technically on both daily and weekly charts.
Disclosure: I have no positions in any stocks mentioned, and no
plans to initiate any positions within the next 72 hours.’
Struggling to the Finish Line: Dave's Daily ‘Most economic
news today (Jobless Claims, Chicago PMI and Home Sales) was, ahem, "better
than expected"; still, that didn't spark any determined buying. Maybe
without any POMO Thursday trading desks were running on empty. 2010 was an
interesting year with lots of erratic behavior but a Fed "stick save"
in the end. Flash Crashes, elections, tax issues, spending, unemployment, POMO
and home prices were all center stage. Now you're probably expecting some sort
of forecast from your humble pundit, but alas, all I can offer are three basic
tenets to follow:
"The best laid
schemes of mice and men go often askew."
-- Robert Burns
Or, if you prefer: "The
best laid plans of mice and men often go awry"
-- John Steinbeck
"If you must
forecast, forecast often."
--Economist Edgar
Fiedler (ETF Digest Sacred Cow IX)
"Things
change"
-- ETF Digest Sacred Cow
X
You were expecting Dow
20,000?!?
Volume Thursday did
improve a tad and breadth was flat… ‘
Baby
Boomers Start To Turn 65: 16 Statistics About The Coming Retirement Crisis That
Will Drop Your Jaw The American
Dream | The moment when the first Baby Boomers reach retirement
age has arrived. ‘ … The following are 16 statistics about the coming retirement
crisis that will drop your jaw…..
#1 Beginning January 1st, 2011 every single day more
than 10,000 Baby Boomers will reach the age of 65. That is going to keep
happening every single day for the next 19 years.
#2 According to one recent survey, 36 percent of
Americans say that they don’t
contribute anything at all to retirement savings.
#3 Most Baby Boomers do not have a traditional pension
plan because they have been going out of style over the past 30 years.
Just consider the following quote from Time
Magazine: The traditional pension plan
is disappearing. In 1980, some 39 percent of private-sector workers had a
pension that guaranteed a steady payout during retirement. Today that number
stands closer to 15 percent, according to the Employee Benefit Research
Institute in Washington, D.C.
#4 Over 30 percent of U.S. investors currently in their
sixties have more than 80
percent of their 401k invested in equities. So what happens if the
stock market crashes again?
#5 35%
of Americans already over the age of 65 rely almost entirely on
Social Security payments alone.
#6 According to another recent survey, 24%
of U.S. workers admit that they
have postponed their planned retirement age at least
once during the past year.
#7 Approximately
3 out of 4 Americans start claiming Social Security benefits the moment
they are eligible at age 62. Most are doing this out of necessity.
However, by claiming Social Security early they get locked in at a much lower
amount than if they would have waited.
#8 Pension consultant Girard Miller recently told
California’s Little Hoover Commission that state and local government bodies in
the state of California have $325
billion in combined unfunded pension liabilities. When you break that
down, it comes to $22,000 for every single working adult in California.
#9 According to a recent report from Stanford
University, California’s three biggest pension funds are as much as $500
billion short of meeting future retiree benefit obligations.
#10 It has been reported that the $33.7
billion Illinois Teachers Retirement System is
61% underfunded and is on the verge of complete collapse.
#11 Robert Novy-Marx of
the University of Chicago and Joshua D. Rauh of Northwestern’s Kellogg School
of Management recently calculated the combined pension liability for all
50 U.S. states. What they found was that the 50 states are collectively
facing $5.17 trillion in pension obligations, but they only
have $1.94 trillion set aside in state pension funds. That is a
difference of 3.2
trillion dollars. So where in the world is all of that extra money
going to come from? Most of the states are already completely broke and
on the verge of bankruptcy.
#12 According to the Congressional Budget Office, the Social Security system will pay out more in benefits than it receives in payroll taxes in 2010. That was not supposed to happen until at least 2016. Sadly, in the years ahead these “Social Security deficits” are scheduled to become absolutely horrific as hordes of Baby Boomers start to retire.
#13 In 1950, each retiree’s Social Security benefit was paid for by 16 U.S. workers. In 2010, each retiree’s Social Security benefit is paid for by approximately 3.3 U.S. workers. By 2025, it is projected that there will be approximately two U.S. workers for each retiree. How in the world can the system possibly continue to function properly with numbers like that?
#14 According to a recent U.S. government report, soaring interest costs on the U.S. national debt plus rapidly escalating spending on entitlement programs such as Social Security and Medicare will absorb approximately 92 cents of every single dollar of federal revenue by the year 2019. That is before a single dollar is spent on anything else.
#15 After analyzing Congressional Budget Office data, Boston University economics professor Laurence J. Kotlikoff concluded that the U.S. government is facing a “fiscal gap” of $202 trillion dollars. A big chunk of that is made up of future obligations to Social Security and Medicare recipients.
#16 According to a recent AARP survey of Baby Boomers, 40 percent of them plan to work “until they drop”.
Companies all over
America have been dropping their pension plans in anticipation of the time when
the Baby Boomers would retire. 401k programs were supposed to be part of
the answer, but if the stock market crashes again, it is absolutely going to
devastate the Baby Boomers.
State and local
governments are scrambling to find ways to pay out all the benefits that they
have been promising. Many state and local governments will be forced into
some very hard choices by the hordes of Baby Boomers that will now be retiring.
Of course whenever a big
financial crisis comes along these days everyone looks to the federal
government to fix the problem. But the truth is that after fixing crisis
after crisis the federal government is flat broke …’
Constitution's
new starring role in House (Washington Post) [ Riiiiight!…Whew! That was a close one…we can all
rest easy now…and to think we were thinkin’ they were goin’ in the wrong
direction and sinkin’…for those skeptics who hail this as yet another desperate
and redundant gimmick … have no fear, the new congress is here. ]
‘…They will read the Constitution aloud…’
Roubini:
‘Housing Prices Can Only Move Down’ According to economist Nouriel Roubini,
the housing market is in a double dip. And negative Case-Shiller Home Price
numbers out today only confirm that unpleasant truth.
Housing
market forecast (Washington Post) Expert says
"house prices probably have another 20% to fall." And that may be a
"conservative estimate.’
The 10 Most Important Tax Tips Of 2010 Posted
by Investopedia
It’s the end of the year, and while holiday baking may be top of mind, that
niggling little task of getting the year-end tax tasks done is still there,
bothering you over the scent of the fruitcake in the oven. The
following tips will give you some specifics so you can take care of taxes,
and then get back to your fun holiday activities.
IN PICTURES: Top 10
Solutions For A Big Tax Bill
IN PICTURES: 6
Tax Credits That Anyone Can Claim
The Bottom Line
With taxes, you don’t know until you ask. You may be able to save much more
than you think you can just by making a few simple changes, or by paying for
expenses in December instead of January, February or March. It’s a little bit
of forethought that can make the tax bill much more bearable.
For the
latest financial news, see Water
Cooler Finance: FBI Insider-Trading Bust.’
Army
edits its history of deadly battle of Wanat (Washington
Post) [ Come on! Does anyone really think they ever get a true story from the
u.s. gov’t et als about anything at all?
] Draft put majority of blame on top commanders, but final version's
focuses on lower-level leaders sparks anger among families of those killed.
A subtler tack to fight Afghan corruption?
(Washington Post) [ How
about a not so subtler tack to fight corruption starting right here in the u.s.
of a. where corruption and crime are pervasive and in fact, at the root of the
Afghanistan problems, from american reinvigorated heroin trade to bribery
attendant thereto to killing civilians, etc..
Defacto
Bankrupt, Meaningfully Lawless, War Criminal Nation america, the leader of nations
… in crime:
Though
having but 5% of the world’s population, america can boast 76% of the world’s
serial killers, followed by Europe with England/UK then Germany leading the way
for the eu [excerpt, 6 minute video, Serial
Killers: Real Life Hannibal Lechters http://www.albertpeia.com/realifeamericaserialkillers.mpg (as is consistent with crime generally,
see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive
(defensive a misnomer / propaganda) military spending than all the nations of
the world combined, and by a large margin at that. Do you see a pattern
emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
) ]:
Rank |
|||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
… ]
Wall
Street Is Laundering Drug Money And Getting Away With It Zach Carter, … etc. …
Drudgereport: CLASSIFIED
NO MORE: USA RACES TO LIMIT WIKILEAKS DAMAGE
[Publishing the Wikileaks is the right thing to do; after all, one
cannot possibly look to even one rationally correct strategy, domestically,
globally, geopolitically that would justify continued hiding/cover-up of the
failed strategies, their genesis, flawed rationale, etc., which has cost this
nation and the world dearly] ...
WIKILEAKS:
We've been hit with 'mass distributed denial of service attack'...
MOST
EMBARRASSING, DAMAGING DISCLOSURE IN DECADES...
SENATORS:
PROSECUTE THE LEAKERS!
NYT
EXPLAINS: THE DECISION TO PUBLISH … [The NYT clearly did the right thing to
publish; after all, one cannot possibly look to even one rationally correct
strategy, domestically, globally, geopolitically that would justify continued
hiding/cover-up of the failed strategies, their genesis, flawed rationale,
etc., which has cost this nation and the world dearly]...
SKorea
says sound of artillery heard on island...
US,
SKorea start major naval drills...
China
issues warning...
DHS
SEIZES DOMAIN NAMES...
EU
Debt Crisis Escalates...
6
American soldiers killed in Afghanistan...
Next Debt
Crisis 'May Start in Washington'...
WIKILEAKS
TURNS ON OBAMA! … [ Like who hasn’t, and for good reason! Publishing
the Wikileaks is the right thing to do; after all, one cannot possibly look to
even one rationally correct strategy, domestically, globally, geopolitically
that would justify continued hiding/cover-up of the failed strategies, their
genesis, flawed rationale, etc., which has cost this nation and the world
dearly] ]
] Authorities are
investigating whether Julian Assange violated criminal laws, including possible
charges under the Espionage Act, sources say. Afghanistan: Gates: Progress has
'exceeded my expectations' (Post, December 8, 2010; 5:53 PM)
U.S. hurting peace chances by giving up on
israeli settlement freeze, analysts say (Post,
December 8, 2010; 11:00 PM)
In South Korea, Joint Chiefs chairman scolds
China for its 'tacit approval' of North's aggression (Post,
December 8, 2010; 11:01 PM)
Iran talks end with little sign of progress
(Post, December 8, 2010; 1:04 AM)
Rice, on 'The View,' defends Obama on
WikiLeaks (Post, December 8, 2010; 1:00 AM) (Washington Post) [ The problems in all these regions
are inextricably tied to the nation with insurmountable problems of its own and
own making. That nation quite obviously
is pervasively corrupt, meaningfully lawless, defacto bankrupt america (along
with such comparable enablers / allies as zionist israel, nato, etc.. How can
anyone believe anything they say, least of all gates who hails from
C(ottage)I(ndustries of)A(merica) based on lies, chaos, and conflict.]
Army
edits its history of deadly battle of Wanat (Washington
Post) [ Come on! Does anyone really think they ever get a true story from the
u.s. gov’t et als about anything at all?
] Draft put majority of blame on top commanders, but final version's
focuses on lower-level leaders sparks anger among families of those killed.
A subtler tack to fight Afghan corruption?
(Washington Post) [ How
about a not so subtler tack to fight corruption starting right here in the u.s.
of a. where corruption and crime are pervasive and in fact, at the root of the
Afghanistan problems, from american reinvigorated heroin trade to bribery
attendant thereto to killing civilians, etc..
Defacto
Bankrupt, Meaningfully Lawless, War Criminal Nation america, the leader of nations
… in crime:
Though
having but 5% of the world’s population, america can boast 76% of the world’s
serial killers, followed by Europe with England/UK then Germany leading the way
for the eu [excerpt, 6 minute video, Serial
Killers: Real Life Hannibal Lechters http://www.albertpeia.com/realifeamericaserialkillers.mpg (as is consistent with crime generally,
see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive
(defensive a misnomer / propaganda) military spending than all the nations of
the world combined, and by a large margin at that. Do you see a pattern
emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
) ]:
Rank |
|||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
… ]
Wall
Street Is Laundering Drug Money And Getting Away With It Zach Carter, … etc. …
Drudgereport: CLASSIFIED NO MORE: USA RACES
TO LIMIT WIKILEAKS DAMAGE [Publishing
the Wikileaks is the right thing to do; after all, one cannot possibly look to
even one rationally correct strategy, domestically, globally, geopolitically
that would justify continued hiding/cover-up of the failed strategies, their
genesis, flawed rationale, etc., which has cost this nation and the world
dearly] ...
WIKILEAKS: We've been hit
with 'mass distributed denial of service attack'...
MOST EMBARRASSING, DAMAGING
DISCLOSURE IN DECADES...
SENATORS: PROSECUTE THE
LEAKERS!
NYT EXPLAINS: THE DECISION TO
PUBLISH … [The NYT clearly did the right thing to publish; after all, one
cannot possibly look to even one rationally correct strategy, domestically,
globally, geopolitically that would justify continued hiding/cover-up of the
failed strategies, their genesis, flawed rationale, etc., which has cost this
nation and the world dearly]...
SKorea says sound of artillery
heard on island...
US, SKorea start major naval
drills...
China issues warning...
DHS SEIZES DOMAIN NAMES...
EU Debt Crisis Escalates...
6 American soldiers killed in
Afghanistan...
Next Debt Crisis 'May Start in Washington'...
WIKILEAKS TURNS ON OBAMA!
… [ Like who hasn’t, and for good reason! Publishing the Wikileaks is the right
thing to do; after all, one cannot possibly look to even one rationally correct
strategy, domestically, globally, geopolitically that would justify continued
hiding/cover-up of the failed strategies, their genesis, flawed rationale,
etc., which has cost this nation and the world dearly] ]
] Authorities are
investigating whether Julian Assange violated criminal laws, including possible
charges under the Espionage Act, sources say. Afghanistan: Gates: Progress has
'exceeded my expectations' (Post, December 8, 2010; 5:53 PM)
U.S. hurting peace chances by giving up on
israeli settlement freeze, analysts say (Post,
December 8, 2010; 11:00 PM)
In South Korea, Joint Chiefs chairman scolds
China for its 'tacit approval' of North's aggression (Post,
December 8, 2010; 11:01 PM)
Iran talks end with little sign of progress
(Post, December 8, 2010; 1:04 AM)
Rice, on 'The View,' defends Obama on
WikiLeaks (Post, December 8, 2010; 1:00 AM) (Washington Post) [ The problems in all these regions
are inextricably tied to the nation with insurmountable problems of its own and
own making. That nation quite obviously
is pervasively corrupt, meaningfully lawless, defacto bankrupt america (along
with such comparable enablers / allies as zionist israel, nato, etc.. How can
anyone believe anything they say, least of all gates who hails from
C(ottage)I(ndustries of)A(merica) based on lies, chaos, and conflict.]
5
Economic Themes for 2011 Suttmeier ‘5
themes for 2011 (6 more are on their way):
Tracking the US Capital
Markets – US stocks are overvalued
fundamentally and overbought technically on both daily and weekly charts. The
snow storm causes stocks to drift lower and higher.
The Yield on the 10-Year
Note (3.345) – Tested this week’s
value level at 3.494 with today’s risky level at 3.306.
Comex Gold ($1384.2) – The 50-day at $1372.1 held at the low on Monday with
this week’s risky level at $1401.2.
Nymex Crude Oil ($90.79)
– Reached a new high for the year at
$91.88, shy of this week’s risky level at $93.28. Support is the 21-day simple
moving average at $88.24.
The Euro (1.3163) – My weekly value level is 1.2906 with 200-day simple
moving average at 1.3087 and quarterly pivot at 1.3318, which goes away at the
end of the year.
The Dow Industrial
Average (11,555) – Remains extremely
overbought on both daily and weekly charts. The 21-day simple moving average is
11,384 with a daily pivot at 11,569 and this week’s risky level at 11,629.
Disclosure: I have no positions in any stocks mentioned, and no
plans to initiate any positions within the next 72 hours.
Market
Crash on 12/31/10? Technical indicators suggest market collapse may
begin by December 31st Why
Stocks Could Collapse...Beginning as Soon as December 31, 2010!
The Fed has propped up the equity markets for
months ... but
that could soon come to a disastrous end! Dennis Slothower is one of the
world’s leading technical analysts. He’s one of the few advisors whose readers
completely avoided ALL losses during the disaster that was 2008. And now he’s
issuing another dire warning. His technical indicators suggest that the market
manipulation we’ve seen over the last several months is about to come to an
end…and that means thousands of investors are about to get clobbered. This
correction could begin as soon as December 31st–
so it’s important that you take action now to prepare yourself. Click on the
link below for immediate access to Dennis Slothower’s latest report, which will
explain – in plain English – just how Dennis saw the collapse of 2008
coming…and how he’ll help you avoid disaster in the weeks ahead. http://www.stealthstocksonline.com/reports/FreeReport4StealthStocks.pdf
What's
Coming in 2011? More Gloom, But Not Necessarily Doom Krasting ‘Oh boy, is 2011
going to be an exciting year! Some things that I think might happen:
Have a great year!’
Toasting
the bad economy (Washington Post) [
As indeed the Russians should since they have much to celebrate. Russian
tiger team hails success yahoo
Moscow's
unprecedented military deal (Washington Post) ( France should be praised
inasmuch as a strong Russia, and conversely, a weak perpetual war, war
mongering, war crimes, pervasively corrupt nation, america is optimal for world
peace! ) Russia
is last in series of major powers to seal valuable deals with India (Washington Post) ( Bravo for India … a deal with
Russia is a deal with a future! ) ] Their country still endures the sting of
economic crisis, but Russians plan to drink up this holiday season. Applebaum: The
'decline of the West' (Washington Post) [ It really is true … and, no
leftist sympathizer with his book of the same name, none other than Buchanan
says as much. The reason of course is based on reality. From Orwellian Britain,
to failed nation-state the pervasively corrupt and defacto bankrupt
wobama-bushland america, to perpetual war ‘me-toos’ (ie., nato allies, war
crimes nations israel, u.s., etc.), their frauds (wall street, etc.) protected,
laws meaningless(see RICO
case http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ) , their ruthless suppression
subtle, hidden, but odious as never before in their respective histories, the
west at best has become that ‘distinction without significant difference’ and
heading to worse than can be imagined. Of course they’ll lay blame to something
other than the huge frauds / wealth transfers that have plundered the nation.
Indeed, one could even cogently argue that said plundering gave rise to the
flawed, failed communism lie in the first instance. Yet, Russia, a great nation
with a rich history is not a communist nation, did not violently suppress the
people as they shirked that communist yoke / albatross, is not as defacto
bankrupt, meaningfully lawless, pervasively corrupt america engaging in
perpetual wars of destruction to persons and property, and with a great leader
of historical dimension in Putin is a far more rational choice than the
bankrupt west on all levels. As for
communist china, it has truly been a self-defeating, self-destructive creation
of the west out of greed which is in no short supply in the west. PREVIOUS:
Wikileaks
founder freed on bail (Washington
Post) [ ‘… Moore (correctly) asserts
that Assange
is under attack solely because he had the courage to expose American war
crimes. Moore writes:
We were taken to war in Iraq on a lie. Hundreds of thousands
are now dead. Just imagine if the men who planned this war crime back in 2002
had had a WikiLeaks to deal with. They might not have been able to pull it off.
The only reason they thought they could get away with it was because they had a
guaranteed cloak of secrecy....
So why is WikiLeaks, after performing such an
important public service, under such vicious attack? Because they have outed
and embarrassed those who have covered up the truth…’
CLINTON BODY
COUNT
By: Ether Zone
Staff
‘The Obama Deception’
Censored A viral You Tube upload of
one of Alex Jones’ most popular feature films ‘The Obama Deception’ has been censored
following a spur of the moment campaign to elevate the movie’s title to the top
of the major internet search engines.
In
light of this development, I provide an archived site version which appears to
be complete (but will be compared with earlier version and replaced with same
if incomplete) http://albertpeia.com/obamadeceptionhighqualityversion.flv
CLINTON BODY
COUNT
By: Ether Zone
Staff
Here is the latest body count
that we have. All of these people have been connected with the Clintons in some
form or another. We have not included any deaths that could not be verified or
connected to the Clinton scandals. All deaths are listed chronologically by
date. This list is current and accurate to the best of our knowledge as of January
13, 1999 August 1, 2000. (see
complete list http://albertpeia.com/bodycount.htm )
Susan Coleman: Rumors were circulating in Arkansas of an affair
with Bill Clinton. She was found dead with a gunshot wound to the head at 7 1/2
months pregnant. Death was an apparent suicide.
Kevin Ives & Don Henry: Initial cause of death was reported to be the result
of falling asleep on a railroad track in Arkansas on August 23, 1987. This
ruling was reported by the State medical examiner Fahmy Malak. Later it was
determined that Kevin died from a crushed skull prior to being placed on the
tracks. Don had been stabbed in the back. Rumors indicate that they might have
stumbled upon a Mena drug operation.
Paul Olson: A Federal witness in investigations to drug money
corruption in Chicago politics, Paul had just finished 2 days of FBI interviews
when his plane ride home crashed, killing Paul and 130 others on Sept 8 1994.
The Sept. 15, 1994 Tempe Tribune newspaper reported that the FBI suspected that
a bomb had brought down the airplane.
Calvin Walraven: 24 year on Walraven was a key witness against Jocelyn
Elder's son's drug case. Walraven was found dead in his apartment with a
gunshot wound to the head. Tim Hover, a Little Rock police spokesman says no
foul play is suspected.
Alan G. Whicher: Oversaw Clinton's Secret Service detail. In October 1994
Whicher was transferred to the Secret Service field office in the Murrah
Building in Oklahoma City. Whatever warning was given to the BATF agents in
that building did not reach Alan Whicher, who died in the bomb blast of April
19th 1995.
Ron Brown:. The Commerce Secretary died on April 3, 1996, in an
Air Force jet carrying Brown and 34 others, including 14 business executives on
a trade mission to Croatia, crashed into a mountainside. The Air Force, in a
22-volume report issued in June of 1996, confirmed its initial judgment that
the crash resulted from pilot errors and faulty navigation equipment At the
time of Brown's death, Independent Counsel Daniel Pearson was seeking to
determine whether Brown had engaged in several sham financial transactions with
longtime business partner Nolanda Hill shortly before he became secretary of
commerce.
Charles Meissner: died: UNK - Following Ron Brown's death, John Huang was
placed on a Commerce Department contract that allowed him to retain his
security clearance by Charles Meissner. Shortly thereafter, Meissner died in
the crash of a small plane. He was an Assistant Secretary of Commerce
for International Economic Policy.
Barbara Wise: Wise a 14-year Commerce Department employee found dead and
partially naked in her office following a long weekend. She worked in the same
section as John Huang. Officially, she is said to have died of natural causes.
Mary C. Mahoney: 25, murdered at the Georgetown Starbuck's coffee bar over
the 4th of July '97 weekend. She was a former White House intern who worked
with John Huang. Apparently she knew Monica Lewinsky and her sexual encounters
with Bill Clinton. Although not verified, it has been said that Lewinsky told
Linda Tripp that she did not want to end up like Mahoney.
---------------------------------------------------------
] Gerson: He could have taken quiet
credit for the bipartisan tax deal; he chose otherwise. ]
10 Good Reasons To Be Worried About The Stock Market In
2011 , On Sunday December 26, 2010,
‘This is one of David Rosenberg's best pieces in awhile. In his latest daily
note, the Gluskin-Sheff economist
presents 10 reasons bulls should be worried about the stock market in 2011. And
it's not just that there are all kinds of negative headlines that are being
ignored, or that some economic datapoints aren't so hot, or that there is still
deflation. He makes a great argument that many factors, like the level of
bullishness, the relative valuation of stocks to bonds, and the unanimity in
thinking are worrisome. If anything, the list isn't taking into account
everything we see right now.
7.
BREADTH
IS DETERIORATING "As Bob Farrell is
clearly indicating in his work, momentum and market breadth have been
lacking. The number of stocks in the S&P 500 that are making
52-week highs is declining even though the index continues to make new 52-week
highs. "Source: Gluskin-Sheff
Read more: http://www.businessinsider.com/10-reasons-to-be-worried-about-the-stock-market-in-2011-2010-12#breadth-is-deteriorating-7#ixzz19G1KZX2Q
8.
VALUATIONS
ARE GETTING RICH "Stocks are overvalued at the present levels. For
December, the Shiller P/E ratio says stocks are now trading at a whopping 22.7
times earnings! In normal economic periods, the Shiller P/E is between 14
and 16 times earnings. Coming out of the bursting of a credit bubble, the
P/E ratio historically is 12. Coming out of a credit bubble of the
magnitude we just had, the P/E should be at single digits." Source: Gluskin-Sheff
Read more: http://www.businessinsider.com/10-reasons-to-be-worried-about-the-stock-market-in-2011-2010-12#valuations-are-getting-rich-8#ixzz19G23tGaQ
9.
HOUSING IS STILL A HUGE THREAT "The potential for a
significant down-leg in home prices is being underestimated. The unsold
existing inventory is still 80% above the historical norm, at 3.7
million. And that does not include the ‘shadow’ foreclosed
inventory. According to some superb research conducted by the Dallas Fed,
completing the mean-reversion process would entail a further 23% decline in
real home prices from here. In a near zero percent inflation environment,
that is one massive decline in nominal terms. Prices may not hit their
ultimate bottom until some point in 2015. "Read more: http://www.businessinsider.com/10-reasons-to-be-worried-about-the-stock-market-in-2011-2010-12#housing-is-still-a-huge-threat-9#ixzz19G2O6qNU
10. FISCAL STRAINS POSE A MAJOR THREAT "Arguably
the most understated, yet significant, issue facing both U.S. economy and U.S.
markets is the escalating fiscal strains at the state and local government
levels, particularly those jurisdictions with uncomfortably high pension
liabilities. Have a look at Alabama town shows the cost of neglecting a
pension fund on the front page of the NYT as well as Chapter 9 weighed in
pension woes on page C1 on WSJ." In the absence of Chapter 9
declarations or dramatic federal aid, fixing the fiscal problems at lower
levels of government is very likely going to require some radical restraint,
perhaps even breaking up existing contracts for current retirees and tapping
tax payers for additional revenues. The story has some how become lost in
all the excitement over the New Tax Deal cobbled together between the White
House and the lame duck Congress just a few weeks ago." Source: Gluskin-Sheff Read more: http://www.businessinsider.com/10-reasons-to-be-worried-about-the-stock-market-in-2011-2010-12#fiscal-strains-pose-a-major-threat-10#ixzz19G2gqTZP
THE
STOCK MARKET IS A BUBBLE Corson ‘The stock market is not bubbled up, you
say? Well then, let's take a serious macro macro look at the situation and
raise the matter as a question.How is it that from about 1950 (or 1965 at
least) up to about 1985, the Dow Jones Industrial Average stayed mostly in the
range from about 250 to 1200, when America was growing and doing pretty well on
average, and then, from about 1985 to the year 2000 or so -- a mere fifteen
years -- the Dow shot up to over 10,000, when middle class America realized
almost no income gains in real terms and the economy basically cycled from one
boom and bust cycle to the next?I argue we face one of the biggest bubbles of
all time. Let me explain and lets address the problem by focusing on the DJIA.
Here is what the DJIA has done since 1965. click
to enlarge images
What we observe is the
DJIA has gone up about ten fold from 1965 to the year 2000 or so. But what has
industrial production in the US done during that time frame?
Industrial production
has increased to be sure, but only by a factor of three or so. It certainly has
not increased anything like the DJIA. But there is slippage, you say. To be
sure, we now generate more services, the time series data have been smoothed
and more importantly changed, etc., etc. But these explanations simply don't
bridge the gap.
Here is another one that doesn't either.
Back in the early-to-mid
1980s macro economists noted that the risk premium being paid on equities over
bonds was far higher than was warranted by standard measures of individuals’
attitudes towards risk. In short, the risk premium agents were being paid more
than compensated them for the risk. This was particularly surprising since over
the long run, the risk on equities was no different than that on bonds. As a
result, there appeared to be an arbitrage opportunity by shifting one’s
portfolio from bonds to stocks and holding the equities for a long time.
Do you believe that? We
simply had a financial epiphany and corrected. More importantly, do you want to
believe that or anything except we are bubbled up?As we know, Japan had this
problem with its stock market and here is what happened. But that can't happen
here you say. I ask, why not?
Even GDP and profits
have not caught up with this market. They too have only increased three and a
half fold at best.
(The data in these
charts are smoothed to conceal recessions and ease presentation.)Why is it that
we don't have a serious bubble in our stock market now? Were our valuations all
wrong for years on end earlier, or do we have it wrong now? I think we have a
problem and our heads are in the sand… http://www.seekingalpha.com/article/243573-is-the-dow-showing-a-major-stock-market-bubble?source=yahoo
’
9-13-10
Steven M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within DVD rom
autorun disk (which will open in your computer’s browser) as per your office’s
request as made this day (the disk and contents have been scanned by Avast,
McAfee, and Norton which I’ve installed on my computer to prevent viral attacks
/ infection and are without threat). I also include a copy of the DVD as filed
with the subject court as referenced therein (which files are also included on
the aforesaid 3 disks in a separate folder named ‘112208opocoan’)…
The (civil)
RICO action (as you’re aware, the RICO Act is a criminal statute which provides
a civil remedy, including treble damages and attorney fees, as an incentive for
private prosecution of said claims probably owing to the fact that the USDOJ
seems somewhat overwhelmed and in need of such assistance given the seriousness
and prevalence of said violations of law which have a corrupting influence on
the process, and which corruption is pervasive). A grievance complaint against
Coan was also filed concurrently with the subject action and held in abeyance
pending resolution of the action which was illegally dismissed without any
supporting law and in contravention of the Order of The Honorable Robert N.
Chatigny, Chief Judge, USDC, District Connecticut. The files below the
horizontal rule are the referenced documents as filed. (Owing to the damage to
the financial interests of both the U.S. and the District of Congresswoman
Roybal-Allard, viz., Los Angeles, the Qui Tam provisions of the Federal False Claims Act probably would apply and I
would absent resolution seek to refer the within to a firm with expertise in
that area of the law with which I am not familiar).
The document in 5 pages
under penalty of perjury I was asked to forward to the FBI office in New Haven
is probably the best and most concise summary of the case RICO
Summary to FBI Under Penalty of Perjury at Their Request (5 pages) [ http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf (
http://albertpeia.com/fbiofficela91310 ) ].
The correspondence I received from Congresswoman by
way of email attachment (apparent but typical problem with my mail) along with
my response thereto is included on the 3 disks as fbicorrespondencereyes.htm . With
regard to the calls to the FBI’s LA and New Haven, CT offices: There was one
call to the LA office and I was referred to the Long Beach, CA office where I
personally met with FBI Agent Jeff Hayes to whom I gave probative evidentiary
documents of the money laundering which he confirmed as indicative of same (he
was transferred from said office within approximately a month of said meeting
and his location was not disclosed to me upon inquiry). The matter was assigned to FBI Agent Ron
Barndollar and we remained in touch for in excess of a decade until he abruptly
retired (our last conversation prior to his retirement related to the case and
parenthetically, Rudy Giuliani whose father I stated had been an enforcer for
the mob to which he registered disbelief and requested I prove it, which I did
– he served 12 years in prison, aggravated assault/manslaughter? – and no,
there is no Chinese wall of separation – Andrew Maloney’s the one that
prosecuted gotti).
In contradistinction to the statement in said
correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO
VERIFIED COMPLAINT (see infra). Such includes and as set forth in
the case, inter alia,
There is applicable insurance / surety coverage and
neither LA, nor creditors, nor I should continue to have been damaged by this
brazened corrupt and illegal scenario, which should be resolved in accordance
with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) ******** (cell phone)
(213) 622-3745 (listed land line but there are
unresolved problems with the line, computer connection may be the reason but I
hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).
• Audio:
Obama on terrorism tactics
A subtler tack to fight Afghan corruption?
(Washington Post) [ How
about a not so subtler tack to fight corruption starting right here in the u.s.
of a. where corruption and crime are pervasive and in fact, at the root of the
Afghanistan problems, from american reinvigorated heroin trade to bribery
attendant thereto to killing civilians, etc..
Defacto
Bankrupt, Meaningfully Lawless, War Criminal Nation america, the leader of
nations … in crime:
Though
having but 5% of the world’s population, america can boast 76% of the world’s
serial killers, followed by Europe with England/UK then Germany leading the way
for the eu [excerpt, 6 minute video, Serial
Killers: Real Life Hannibal Lechters http://www.albertpeia.com/realifeamericaserialkillers.mpg (as is consistent with crime generally,
see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive
(defensive a misnomer / propaganda) military spending than all the nations of
the world combined, and by a large margin at that. Do you see a pattern
emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
) ]:
Rank |
|||
# 1 |
11,877,218 |
|
|
# 2 |
6,523,706 |
|
|
# 3 |
6,507,394 |
|
… ]
]
Airstrike probe finds poor coordination
between Pakistan, U.S. (Washington Post) [ Riiiiight! That
coordination thing underlying those unfriendly-fire incidents and civilian
deaths wherever american storm troopers happen to be … Eureka! And all this
while everyone was thinking that the same was just typical americana! ]
U.S.
funds go to Taliban, warlords, report finds (Washington
Post) [ Well, defacto bankrupt america can afford it; after all, how much more
defacto bankrupt can the nation get? Well, then again, despite the headline, a
lot of those hundreds of billions are finding their way back into american
hands, albeit dirty ones, like, for example the 360 tons of hundred dollar
bills flown into Iraq and still unaccounted for, etc.. ]Military has minimal
knowledge of and virtually no control over thousands of Afghans it pays to
guard operating bases, bipartisan report finds.
Harry Dent, Jr. Economy will be in a
Depression by 2011
The worst of this next depression is likely to hit between mid-2010 and
mid-2013, especially around early 2011, but if the banking system continues to
implode a deep downturn or depression could begin sometime in 2009 instead of
2010.
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the
latest.
Inflation will Increase until mid- 2010 and then turn to Deflation
Interest Rates will Increase
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010
and 2012). ]
Sunnis'
walkout mars political talks in Iraq (Washington Post) [ ‘It’s … be…ginning
to look a lot like Christmas, everywhere pervasively corrupt ‘little israel’
defacto bankrupt war criminal nation america goes (to that Christmas tune) …
Nothing like creating the anti-Christian sentiment through failed policy to
keep the war machine greased with money defacto bankrupt america doesn’t really
have (and aren’t the jews / israelis by definition ‘anti-Christ and hence
anti-Christian’) ] One chaotic parliamentary session reflects challenges facing
U.S. efforts to leave behind a stable Iraq with a representative
government. Attack
on Karachi police building kills 18 (Washington Post) About six militants
open fire on a criminal investigations office in the "red zone," a
highly secured area within Pakistan's largest city that houses the provincial
minister's residence and the U.S. Consulate. [Visiting U.S. senators praise Afghan
progress, say drawdown date is unrealistic (Washington Post) [ I’ll
tell you what’s unrealistic: having compromised senators ( ie., non-war-heroe
senile mccain, closet homosexual graham, incompetent zelig zionist lieberman, new
york sinkhole slug Kirsten Gillibrand
chided As 'Schumer's (zionist) Little Girl' ) stay the course with already
failed pervasively corrupt, defacto bankrupt american policy … Paul
Craig Roberts: Government Abandoned Vietnam POWs Kurt
Nimmo | John
McCain worked overtime to make sure Vietnam POWs never came home. I think the
even bigger story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm
‘Did you know that that so-called "american heroe" john mccain was
referred to by his fellow pows in Vietnam as something akin to the
"songbird" inasmuch as he was constantly "singing" to his
Viet-Cong captors to curry favor and better treatment? This has been documented
with authority by Colonel David Hackworth. The same violates military
code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm
] But, you see, this covered up scenario, compromizing the false facade
of far less than a heroe, is exactly what a criminal (lie of a) nation as
america loves and encourages (get everyone's hands dirty so no-one dares to
rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the
(corrupt, propagandized) line", become a criminal, or be exposed,
prosecuted, and/or ruined; and, hasn't anyone asked how "wall street"
has been "spared the spotlight" (and even was accorded protective
legislation from their criminal culpability) and focus of inquiry, attention,
and prosecution despite being the primary beneficiaries financial and otherwise
of these scams (you know the wall street motto, "churn and earn"; huge
conflicts of interest if not outright fraud)…’…Oh and they so can afford it Deficit
panel proposes huge cuts (Washington Post) [ Cuts? I heard the corrupt, incompetent
lawmakers were giving themselves a raise. They actually deserve at least a 10%
paycut and abolition of those lifetime appointments / permanent corrupt
bureaucracies. Nothing succeeds like failure and crime in pervasively corrupt,
defacto bankrupt america! ] Lawmakers propose curbs on Social Security, cuts in
spending and tax hikes if long-term goals aren't met. ]
A
united goal: Saving the tiger (Washington Post) [
Clearly the wisdom of an historically great leader for the ages,
Vladimir V. Putin should be given great deference in all matters of global
concern. Having evolved from his youthful indiscretion as a novice KGB agent, a
hand dealt to him (by a soviet communist system) more than chosen, he has
reminded the world of the greatness that was, is, and forever will be Russia’s
and His! ] The tale of
the magnificent Siberian tiger, and its unfinished fight for survival, should
be a compelling one for the 500 conservationists and world leaders arriving for
Russian Prime Minister Vladimir V. Putin's tiger summit this weekend.
Where
no man has gone before (Washington Post) [ Geeh! I can almost hear that
Star Trek Theme reverberate in my head, followed by a taste of Zarathustra …
After all, this is 2010 Odd but hardly a Space Odyssey. Indeed, merely
launching rockets is a far cry from Jupiter, and as for the moon; well, they
just didn’t get that done either … though the video was … okay. Launch
of secret US space ship masks even more secret launch of new weapon
Karzai
officials on CIA payroll (Washington Post)
[Riiiiight! The roster of allies … love of america breakin’ out all over
the region … boy oh boy … talk about creating your own boondoggles … well, they
can afford it. After all, it’s only taxpayer money and america’s already
defacto bankrupt. Then again, they have the requisite licenses; viz., to kill,
to steal, to distribute illegal drugs, etc.. Whew! Glad they didn’t act without
the requisite licensure.]
WikiLeaks founder could be charged under
Espionage Act (Washington Post) [
Drudgereport: Interpol issues
wanted notice for Julian Assange [ They just can’t take the truth! ] ...
US cuts access to files [
Think about it. Really think about it. Their policies are in the tank, along
with the nation and the rest of this world as a consequence. Don’t those so
detrimentally affected (everyone) have a right to know? I think in light of the
global frauds, contrived perpetual wars though defacto bankruptcy of this and
other nations, pervasive corruption and crime, failed policies domestically and
geo-politically while serving the very parochial interests of the
self-interested few, the answer is an unequivocal, YES! I believe that world
history will write Mr. Assange as a hero in the truest sense. He should be
given a medal; and, certainly, since mr. b*** s*** wobama undeservingly got a
‘nobel peace prize’ (what he does, not what he says, ie., Afghanistan, etc.),
who more than Julian Assange is deserving of that and more? Cover-up /
propaganda … thy name is fallen america.]...
WIKILECTURE: 'HILLARY SHOULD
RESIGN' ‘…Hillary Clinton, Julian Assange said, "should resign."
Speaking over Skype from an undisclosed location on Tuesday, the WikiLeaks
founder was replying to a question by TIME managing editor Richard Stengel over
the diplomatic-cable dump that Assange's organization loosed on the world this
past weekend. Stengel had said the U.S. Secretary of State was looking like
"the fall guy" in the ensuing controversy, and had asked whether her
firing or resignation was an outcome that Assange wanted. "I don't think
it would make much of a difference either way," Assange said. "But
she should resign if it can be shown that she was responsible for ordering U.S.
diplomatic figures to engage in espionage in the United Nations, in violation
of the international covenants to which the U.S. has signed up. Yes, she should
resign over that."…’
CITY ON EDGE: Cash-Strapped
Newark, new jersey Forced To Lay Off 14% Of Police Force... [ From decades old
(1978-1985) direct personal experience with newark, n.j., the police are the
absolute last cuts that can be afforded to be made. Indeed, while walking
through Military Park (a sliver of a “park” - more a pedestrian
thoroughfare/cement walks) in newark, new jersey on the way to the bank during
lunch hour, I heard the clearly audible screams/cries of what turned out to be
an old lady on the ground with blood streaming from her mouth. I ran toward the
sound of the cries, the source of which I could not see because there were so
many people in and about this thoroughfare so as to block any vision of the
source of the cries. When I came to the woman, on the ground, blood streaming
from her mouth, I asked what happened, to which she responded she had been hit
in the mouth and knocked to the ground, her purse stolen/put inside her
shopping bag, and she pointed out the criminal casually now walking across the
main street. Nobody stopped to help her, many having passed her by. I slammed
the thug to the ground so hard that, in light of all the blood and confusion
(limbic system / adrenalin flow) I thought I had been stabbed (the blood was
from his elbows hitting the pavement so hard - no one helped / a crowd gathered
/ an undercover cop happened along). When I testified at the Grand Jury
Proceeding I made sure his threat on my life was set forth in prima facie
fashion so as to maximize the DA’s position with both felonies ( he went to
prison – pled out ). The other case I wrote about here ( This was included on
my website in the Psychology discussion of ‘bystander effect’ / diffusion of
responsibility. ) - Having had occasion to have run down a mugger in newark,
n.j. who apparent had followed a girl from the bank on her way to the bursar to
pay tuition, though in pretty good shape, I was astounded by how totally
exhausting such a pursuit was, how much like rubber my arms were when I traded
punches with the perpetrator, and truth be told, if I had a flashlight on my
belt, I have little doubt that I would have probably used it to subdue the
perp. The girl was not that seriously injured, did get her pocketbook and
tuition back, and the criminal went to jail. The other thing about such a
pursuit that amazed me was that no one else assisted the girl or me despite
being in a position to do so). (Other newark / new jersey and new york, n.y.
metro, viz., ie., connecticut, and of course, d.c., d.c. metro, viz., ie.,
virginia experience … corrupt federal judges as maryanne trump barry, sam
alito, shiff, matz (california), hall, underhill, dorsey, etc.. Defacto
bankrupt america’s so-called system is pervasively corrupt and broken (AP) Abolish the corrupt, costly, economically
wasteful lifetime extravagantly appointed federal courts - see RICO case http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ) ]
]
Wall
Street Is Laundering Drug Money And Getting Away With It Zach Carter, … etc. … Drudgereport: CLASSIFIED NO MORE: USA RACES
TO LIMIT WIKILEAKS DAMAGE [Publishing
the Wikileaks is the right thing to do; after all, one cannot possibly look to
even one rationally correct strategy, domestically, globally, geopolitically
that would justify continued hiding/cover-up of the failed strategies, their
genesis, flawed rationale, etc., which has cost this nation and the world
dearly] ...
WIKILEAKS: We've been hit
with 'mass distributed denial of service attack'...
MOST EMBARRASSING, DAMAGING
DISCLOSURE IN DECADES...
SENATORS: PROSECUTE THE
LEAKERS!
NYT
EXPLAINS: THE DECISION TO PUBLISH … [The NYT clearly did the right thing to
publish; after all, one cannot possibly look to even one rationally correct
strategy, domestically, globally, geopolitically that would justify continued
hiding/cover-up of the failed strategies, their genesis, flawed rationale,
etc., which has cost this nation and the world dearly]...
SKorea
says sound of artillery heard on island...
US,
SKorea start major naval drills...
China
issues warning...
DHS
SEIZES DOMAIN NAMES...
EU
Debt Crisis Escalates...
6
American soldiers killed in Afghanistan...
Next Debt
Crisis 'May Start in Washington'...
WIKILEAKS
TURNS ON OBAMA! … [ Like who hasn’t, and for good reason! Publishing
the Wikileaks is the right thing to do; after all, one cannot possibly look to
even one rationally correct strategy, domestically, globally, geopolitically
that would justify continued hiding/cover-up of the failed strategies, their
genesis, flawed rationale, etc., which has cost this nation and the world
dearly] ]
] Authorities are
investigating whether Julian Assange violated criminal laws, including possible
charges under the Espionage Act, sources say.
Concerns
over European defense cuts (Washington Post) [ At some point, rationality
must overcome irrationality; if only necessity being the mother of this
new-found invention (rationality). Interestingly, there was a blip on
television news from a NATO rep talking up the technological / military
superiority of NATO relative to Russia (without whose technological prowess
that space station and crew would literally be lost in space). So take that,
literally … and make the cuts (rational). ] European policymakers say the cuts
are necessary given their financial straits, and that training, not sheer
numbers, is what matters in a post-Cold War world.
‘The Obama Deception’
Censored ‘The Obama Deception’ has
been censored In light of
this development, I provide an archived site version which appears to be complete
(but will be compared with earlier version and replaced with same if
incomplete) http://albertpeia.com/obamadeceptionhighqualityversion.flv
Did Google Block “Barry Soetoro”
Search Term? Screenshots obtained by a Prison Planet reader suggest that
Google may have moved to de-list “Barry Soetoro” as a popular search term
shortly after it rose to the top of the Google Trends charts after yesterday’s
effort by radio talk show host Alex Jones to focus attention on Barack Obama’s
real name.
Bush's
fantasy world (Washington Post) [
I’m frankly surprised to see cohen bite the hand that feeds zionists(
ie., dumbya bush, et als). After all, I’ve never seen cohen not like a pro
israel policy, regardless of the cost to
this nation in blood, sweat, tears, and geopolitical and general decline,
particulary economic / financial; nor like a pro-american policy that
negatively impacts israel. I think america particularly, and the rest of the
world has sacrificed enough for the greedy, blood-thirsty, lawless israelis. ] Cohen: WikiLeaks shows the unreality of a presidential
memoir. Jeffrey
Smith: Fighting
leaks
Palestinians
counter israeli offer on settlements (Washington Post) [ The Palestinians, unlike the lawless israelis are
cognizant of u.n. resolutions, prior accords, international law, etc., in their
proposal. ]
Israeli
prime minister offers conditional settlements freeze (Washington Post )
[ Déjà vu all over again? Now why is there a familiar ring to this story
… maybe ‘cause of the ‘been there done that ‘ reality. It’s really quite
incredible since israel’s in violation of u.n. resolutions (242, 338, etc.),
international law, nuclear proliferation treaty, a drain on the the u.s.
globally / domestically, etc.. The u.s. / international community should impose
a resolution. ]
Israel: Defining 'Jewish state': For many,
term has different meanings (Washington Post) [ Well
ain’t that the truth! As per Forrestal’s warning (infra), it meant new york,
pennsylvania, and California … for the greedy zionist israelis it means
anything they want it to mean, borders, laws, u.n. resolutions, civilized
behavior, etc., be damned! ]
Clinton
wraps up Israeli, Palestinian talks - for now (Washington
Post) [ That’s a wrap (Hollywood speak), or just a lot of crap (reality). Well
some celluloid facetime (hill, I said celluloid, not cellulite), appearance of
doing something (not). U.S.
urges Arab states to drop israel nuclear treaty demand Reuters Oooooh! Wow! Sounds like a plan! … For world
conflagration … Another step toward nuclear prone middle east … israel should
be exempt because ….. ‘US –
Israel’s partner in crime, not a referee’ … You really can’t make this stuff up; the
preposterous s*** coming out of america! ]The U.S. envoy to the UN atomic
watchdog urged Arab states to withdraw a resolution calling on Israel to sign
an anti-nuclear arms treaty, warning it would send a negative signal to Middle
East peace talks. Israelis,
Palestinians already broaching tough topics in talks, envoy says (Washington
Post) ‘US –
Israel’s partner in crime, not a referee’ (Infowars.com) Israeli and Palestinian leaders
are holding a new round of direct talks.
Bombshell:
Barack Obama conclusively outed as CIA creation Wayne Madsen | Investigative journalist Wayne Madsen has
discovered CIA files that document the agency’s connections to the lives of
Barack Obama and his mother, father, grandmother, and stepfather. ] RAMALLAH, WEST BANK - Secretary of State
Hillary Rodham Clinton on Thursday wrapped up three days of intense Middle East
diplomacy that produced good atmospherics but no sign that an impasse over
Israeli settlement construction has been resolved.
(Alex Brandon - AP)
The
unlikely face of Egypt's protesters (Washington Post) [ Unlikely? … I don’t think so in light of the
strength and prevalence of the ‘anyone but mubarak (and his)’ sentiment. ]
Mohamed ElBaradei, the Nobel Prize-winning former United Nations
bureaucrat, has emerged this week as an improbable revolutionary, clamoring for
the overthrow of Egypt's President Hosni Mubarak.
Iran's
Khamenei says uprisings represent 'defeat' for U.S. (Washington Post) [
No matter how you slice it, dice it, or
euphemise about it, these are indeed substantial, irrevocable losses for the
u.s.; but importantly, of america’s own making; self-defeat if you will,
compounded by a slew of bad choices. Sadly, Ayatollah Ali Khamenei is
quite correct when he states: "The Israelis and the U.S. are
more concerned about what would happen to their interests in a post-Mubarak
regime." … and further, ‘He also accused the United States of propping up
corrupt leaders in the region to protect its interests and those of its ally israel.’
Unfortunately, as has become chrystal clear from america’s perpetual war in the
region, the people have invariably figured last in america/israel’s unbalanced
equations. ]
Egyptian
protesters plan new push Government
detains foreigners, says it's willing to open talks (Washington Post) [ Open talks? ‘bout what?
Building a pyramid in mubarak’s honor before stepping down? He’s done … finito
… burnt as an over-micro-waved burrito! The following from the Post is indeed
the straw that broke the riders with whips he sent on camels’ and horses’
backs! ‘Wants to die in Egypt? How
touching, or the reality, he’s just plain touched as in totally ‘out of
it’. ‘…In what the U.S. State Department
called a "concerted campaign to intimidate," several dozen journalists
were rounded up by security forces and detained for hours, along with
foreigners working as teachers, engineers and human rights researchers. Across
the city, angry bands of supporters of President Hosni Mubarak also beat
journalists; several reporters said that they were threatened with death…’ ]
Cairo seeks to shift blame for clashes by rounding up journalists; U.S.
worries renewed protests could spark more violence from Mubarak supporters. Demonstrations
in Egypt take bloody turn In
Cairo square, Mubarak backers confront anti-government crowds (Washington Post) [ Not too difficult for desperate and done
mubarak to contrive: Mubarak
Says Egyptians Have to Choose Between “Chaos” and Him … Then Sends In His Thugs
to Stir Up Chaos (Infowars.com) In
order to justify staying in power until elections are held in September,
President Mubarak said on tv that the people had to choose between him and
“chaos”. ] The coordinated nature of day's events
suggested that Mubarak's supporters were determined to show, as he had warned,
that the country faced a "choice between chaos and stability." [
Previous: Mubarak's
pledge seen as not enough Egyptian
president plans to stay in office to transfer power (Washington Post) [ Let me put it another
way: Mubarak is as done as an over-cooked tamale … He seems to be stalling for
time and even in his age impaired mind certainly knows his position is
untenable, unsustainable, and even more irrational as each second passes. There
is a possibility that he’s using same to move money / treasure for himself and
others, literally as well, buying time. See infra … Previous:
Mubarak
seeks dialogue, shows no sign of relenting
Demonstrators
call for massive protest but lack leadership (Washington Post) [ He relented when he
resorted to media / internet blackout. Indeed, this lack of sign thing is a
testament to how far from reality 30 years has taken him, not to mention the
other 52 years that have taken their toll on his cognitive processes. Whether
it is plaques ‘on the brain’ or outright senility, that he is so disengaged
from the events unfolding around him, one may only wonder how he lasted this
long. Nor did his choice of cia standin / shill, new VP Suleiman enhance his
now untenable position which leaves him as ‘done as a burnt enchilada’. Kissinger
on Egypt unrest – “This is only the first scene of the first act of a drama
that is to be played out” [ The
import of this so-called interview, and it is here that I part company with
alex jones, et als (who by the way, censored me for this very thesis, which
puts him and his at the top of my hypocrite list), is that the so-called elite
have orchestrated these events and ‘are in control’. First, there are no elites
in this world; you can’t derive elites from apes, notochordates, and initially single
celled organisms. Second, almost by definition and certainly by history, there
are no elites in america even if you were to accept the first proposition
(though true) as untrue. What you do have, in this world and america
particularly (with few exceptions as I’ve discussed elsewhere / comments / my
website), are inherent criminals and mentally ill people of varying degrees of
unscrupulousness and insanity who do commit crimes, both small and large, to
further their interests or fortunes (sociopaths / psychopaths). The ’so-called
alpha-dogs’ of the human species at most, but still incompetent vegetables who,
if you look at anything they touch (to use a term term of such incompetent
vegetables as historically pertains to their role in the mideast – and generally
the state of the world) it invariably goes ‘pear shaped’ (english term). What
hasn’t zionist kissinger not messed up as appointee or ‘consultant’ – what does
he get paid for? No! The fact is, they have absolutely no idea how this unfolds
and as with most of their lives, they will predictably choose the most sordid,
despicable, and diabolical course at every turn because … that is their
inherently criminal, mentally ill / unstable nature to do so. ]
] Fragile
steps to end crisis seen as plans take shape for a transition process that
would allow Mubarak to remain as a figure head until new elections.
} ]
] After decades of repression, democracy
advocates say it could take many months -- if not years -- to lay groundwork
for open and credible elections.
]
Julian
Assange must be extradited to Sweden (Washington Post) [ Julian
Assange to be extradited to Sweden Infowars.com [ No surprise here. As I’ve
previously written, I’m against the censorship since one always, in the final
analysis, must discern truth from falsehood, information from disinformation,
reality from propaganda. In truth, I found it somewhat shocking and more than
surprising that of all places ‘to escape to’, Assange chose Orwellian england,
puppet to the u.s. and guarantor of servility to u.s./zionist interests, such
is their own desperate circumstances. What was he thinking? ] WikiLeaks founder Julian Assange is to be
extradited to Sweden to face allegations of rape and sexual assault. Assange
will appeal, his legal team confirmed. If this is unsuccessful, he will be
extradited to Sweden in 10 days. ]
LONDON - Britain will honor Sweden's request to extradite WikiLeaks founder
Julian Assange to face sex-crime allegations, a British judge ruled Thursday.
16
miles away, Saudi Arabia's watchful eye looms over Bahrain unrest (Washington Post) [ I’m sure they
are … with a microscope at that. Saudis Worried
Protests Will Hit Home - saudi arabia;
talk about do nothing hypocrites. How does one family claim ownership of all
the oil reserves of a sovereign nation; I suspect only when foreign
corporations say so For the sake of the saudi Arabian people, more
than just protests should come to fruition!
] AFP | Saudi royal warns Arab world uprisings could cause
harm unless they reform. Bahrain authorities launch surprise attack on protesters [There’s the america and saudi Arabia effect;
far less than democratic and far more deadly in the mideast among other places;
talk about hypocrites. How does one family claim ownership of all the oil
reserves of a sovereign nation as the saudis; time for the saudis to go the way
of dictator Mubarak and take the war criminal americans with them. ] Los Angeles Times Tear gas
canisters bombard sleeping protesters in Manama's Pearl Square. At least two
men are reported killed Video: Bahrain protesters
look to emulate Egypt revolt euronews Riot Police Attack Bahrain Protesters Voice
of America ‘Saudi
Arabia sending troops to Bahrain’ Saudi Arabia is sending troops to Bahrain in a
move to crack down on pro-democracy protesters who took to the streets in the
capital Manama, a political analyst says. [SAUDIS TOLD OBAMA 'NOT TO HUMILIATE MUBARAK'
[ Sounds like they’re hearing footsteps…Previous: Egyptian
capital teeters on anarchy Mubarak
asks cabinet to resign as anti-regime protests intensify
(Washington Post) [ Mubarak should have been looking in the mirror as he asked
his cabinet to resign … 30 years is a long time, and coincidentally, time for
him to go. In
Egypt: Access denied (Washington Post) [The day part of the Internet died: Egypt goes dark [I disagree!
Part of the internet didn’t die, but rather the order to so darken the nation
heralded the demise, at 30 years and counting, of the so-called leadership in
the persona of Mubarak. Time for him to go! After all, he’s been in a position,
with Egypt among the only Mideast nations to have signed a peace treaty with
israel, to have stepped up with substantial credibility in taking a strong
position against israeli transgressions, violations of international law / u.n.
resolutions, war crimes, etc., which beyond soft-touch, he failed to do. And,
of all places, he sends his family to Orwellian england; he still loves those
colonial masters … how pathetic. I mean, 30 years … how free-flowing does
anyone think the election process is at this point … and one could ask the same
regarding the entrenched powers that be in pervasively corrupt, defacto
bankrupt america, to be fair. Then there’s saudi arabia; talk about do nothing
hypocrites. How does one family claim ownership of all the oil reserves of a
sovereign nation; I suspect only when foreign corporations say so. The only
Mideast nations showing backbone are Turkey, Lebanon, and Syria, and, of course
the perennially propaganda painted bad-boy Iran among possibly some of the
smaller emirates, ie., Qatar, etc., (I lack sufficient information regarding
these other nations). ] (AP)
Internet cutoff fails to silence Egypt protests (AP)
- ]
Lt. Gen. John Kelly, who lost son to war,
says U.S. largely unaware of sacrifice (Washington Post) [ I
disagree! They are very much aware; as they stand in unemployment lines, use
food stamps to get by, etc.. I hate to sound cavalier and I’m truly sorry that
Kelly lost a son to war, but along with the multitude of civilians in the
nations unlucky enough to provide a source of corporate welfare to the military
industrial complex and war profiteering for the few (as warned against by
President General Eisenhower), they died for nothing, for no good reason beyond
the false propaganda. ]
Imams
wage political battle against U.S. (Washington Post) [ Yeah!
Are not these native Afghans freedom fighters in the highest, truest, and most noble sense of the term. I mean,
pervasively corrupt / defacto bankrupt america’s destructive and corrupting
influence is unequivocal (including the resurgent heroin trade that had all
been eradicated by the Taliban). This unlawful incursion is a lose, lose
scenario for all parties; and, america’s / israel’s / nato’s zionist
aspirations in the region are among the most self-destructive, self-defeating
policies in world history. ] For
the U.S. government, and for the 100,000 American troops fighting in
Afghanistan, the messages delivered last Friday could hardly have been worse.
Cohen: Time
for Arabs to reject anti-semitism (Washington Post) [ Reality check … time
for israelis / jews to reject zionism and all that is entailed therein,
including an alternate reality that defies credulity, rationality, and facts;
such as, a self-rationalizing greed, anti-arab / anti-Christian predisposition
and the ‘Oedipal Effect’ (blowback) engendered thereby. No, Johnny Carson was
not anti-semitic (Fred Silverman), same for Charlie Sheen (Chuck Lorre), etc.
(the list is endless inasmuch as when facts are not on their side, such
specious inflammatory arguments as ‘anti-semitism’, prejudice, are a convenient
subterfuge distracting from their weak position; ie., illegal nukes, war
crimes, ignoring u.n. resolutions, ie., 242, 338, etc., ignoring international
law. At best, no … God did not give them this land … at worst, God took the
land back when they with roman muscle crucified Christ. Balfour was an
arbitrary, incompetent, british joke.). ]
U.S.
vetoes Security Council resolution denouncing Israeli settlements (Washington Post) [ Drudgereport: Hillary Clinton:
Israeli Settlements 'Illegitimate'… [We know that hill … We’ve known that for
quite some time along with their illegal nukes, war crimes, etc…The whole world
knows that hill… so don’t just talk about it … DO SOMETHING! ] ...
Yes! … in pervasively corrupt, defacto america’s self-defeating,
self-destructive way they are doing something … U.S.
vetoes Security Council resolution denouncing Israeli settlements … Sounds
like a plan! … right! … for self-destruction! ] Sallai Meridor: Israel's
fear (Washington Post) [ Come on! Wake up! Illegal nuke totin’, war crimes
nation israel’s fears … p l e a s e, spare me the pro-israeli b*** s*** ! What
israel fears is a projection of their own ill-founded motives and actions for
which all norms, rules, laws governing civilized behavior are suspended for
expedience at the least, and blood-thirst that some posit as a remnant of their
historic role as Christ-killers (with roman ‘juice’). Isn’t it time, in these desperate times for
america, to put america’s, not israel’s interests, first. Who cares what israel fears … In 1948, U.S.
Secretary of Defense James Forrestal, an opponent of the creation of a Jewish
state in Palestine, warned that, even though failure to go along with the
Zionists might cost President Truman the states of New York, Pennsylvania, and
California, it was about time that somebody should pay some consideration to
whether we might not lose the United States….. Mr. Forrestal was absolutely
correct! Isn’t that exactly what’s happened to defacto bankrupt america in
intractable decline. TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND
ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF
FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD! Israel wary of transition in Egypt, concerned
about regional stability (Washington Post) [ Who cares what the
paranoid, war criminal, illegal nuke totin’, war criminal israelis are wary of.
This country has gone down the tubes cow-towing to the paranoid,
self-interested concerns of the psycho / sociopathic zionist israelis who are
forever projecting their own pathological motives to every turn of history
while ignoring their own culpability in producing the very outcomes they
purportedly seek to avoid. War, conflict, greed, bloodshed is the historically
based israeli way. ] A
resurgent Syria alarms u.s., israel (Washington Post) [ Tell me! What doesn’t alarm these two
paranoid, zionist neo-nazi regimes of oppression, suppression, aggression, and
regression. If they were individuals, they’d undoubtedly be diagnosed as
psychopaths, sociopaths totally ignorant of the rights of others, laws,
civilized behavior as israel pads her illegal nuke arsenals with american
supplied weaponry / support while expecting all other nations to ‘role over and
die’. Bipolar / manic / depressive, the ups and downs are increasingly
difficult for even americans to follow. Obssessive / compulsive thy names are
zionist israel / america. Projection / displacement regarding their own illegal
acts, war crimes, etc.; what they distinguished from what they do …
dissociative identity disorder, dissociative fugue? Yes … the u.s. and israel
are the world’s lunatics, sorely in need of therapy! ] Syria's fresh interference in Lebanon and its
increasingly sophisticated weapons shipments to Hezbollah have alarm officials
and prompt Israel's military to consider striking a Syrian weapons depot.
Peter King, IRA supporter and enthusiastic
counter-terrorism advocate (Washington Post) [ A neocon; a zionist
with a large jewish constituency; an IRA terrorist supporter; looks a lot like,
bears a striking resemblance to, corrupt dodo dodd former Conn. Senator; in
sum, that can’t be good. Maybe he suffers from a multiple personality disorder.
I mean … wow! Whew! ]
Violent
spring looming in Afghanistan (Washington Post) [ See … something to look
forward to … must be that good news that keeps getting pushed back … and spring
no less … everything blooming, or in war criminal american-speak … ‘booming’ …
but not the defacto bankrupt american economy for which a crash is ‘looming’.
Could somebody help me out with a translation of gates’ speech a west point … I
must be missing something … Lt. Gen. John Kelly, who lost son to war,
says U.S. largely unaware of sacrifice (Washington Post) [ I
disagree! They are very much aware; as they stand in unemployment lines, use
food stamps to get by, etc.. I hate to sound cavalier and I’m sorry that Kelly
lost a son to war, but along with the multitude of civilians in the nations
unlucky enough to provide a source of corporate welfare to the military
industrial complex and war profiteering for the few (as warned against by
President General Eisenhower), they died for nothing, for no good reason beyond
the false propaganda. Six NATO troops killed in Afghanistan
(Washington Post) [ Is there something wrong with the following picture? … am I
missing something? … Gates's warning: Avoid land war in Asia, Middle East, and
Africa Christian Science
Monitor - In a speech to cadets at the United States Military
Academy at West Point, Gates's message was clear: The US military services, as
well as the elected and appointed civilians who send them to war, need better
ways of foreseeing and preparing for ...
Gates Tells US Army to Take New Approach Voice of America Warning
Against Wars Like Iraq and Afghanistan New York
Times [ Better said, than unsaid; but,
methinks a bit late for that in light of pervasively corrupt, defacto bankrupt
america’s consummate decline and fall! If only they had listened and not shot
at the messenger … things could have been different! ]
] American military officials
expect that the Taliban will mount a campaign to regain ground lost to U.S.
troops last year and use suicide bombing teams to strike at those associated
with the Afghan government or coalition forces.
NATO endorses plan for Afghan forces to take
over several areas (Washington Post) [ Yeah! Sounds like a plan … if
the several areas encompass the entire nation; and, nato quits their
foolishness in wasting money they don’t have for the sake of the military
industrial complex, war profiteers, thieves, and (nato) heroin dealers. ]
Karzai
condemns deadly NATO airstrike (Washington Post) [ Well, for pervasively
corrupt, defacto bankrupt america, it’s just another of many war crimes. They
just role out the propaganda machine that no one is buying anymore. Yet, can
you believe your eyes and ears here: Six NATO troops killed in Afghanistan
(Washington Post) [ Is there something wrong with the following picture? … am I
missing something? … Gates's warning: Avoid land war in Asia, Middle East, and
Africa Christian Science
Monitor - In a speech to cadets at the United States Military
Academy at West Point, Gates's message was clear: The US military services, as
well as the elected and appointed civilians who send them to war, need better
ways of foreseeing and preparing for ...
Gates Tells US Army to Take New Approach Voice of America Warning
Against Wars Like Iraq and Afghanistan New York
Times [ Better said, than unsaid; but,
methinks a bit late for that in light of pervasively corrupt, defacto bankrupt
america’s consummate decline and fall! If only they had listened and not shot
at the messenger … things could have been different! ] A NATO airstrike that Afghan officials
said killed nine children collecting firewood in eastern Afghanistan beccomes
the latest irritant in the tense relationship between President Hamid Karzai
and the international force in the country.
U.N. confirms probe into allegations of
torture by Gaddafi's forces (Washington Post) [ Well we all know how effective the
u.n. has been in enforcing the mandate
against torture / war crimes in light of their stern rebuke / sanctions /
action against the u.s. / israel … riiiiight!
http://albertpeia.com/evilonthetarmac.htm ]
Accountability is unclear in israeli probe of flotilla
raid (Washington
Post) Oh, come on! An israeli probe of an
israeli massacre of civilians. Time for israel to pay; for illegal nukes, for
violations of international law, for continued violations of u.n. resolutions,
for provocations as pretexts to sabotage peace talks, and on and on ad nauseum.
Why does america among other nations feel compelled to sacrifice themselves for
the sake of a global criminal nation with an insatiable greed and blood-thirst
as israel?
The
israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed
Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish
ship carrying humanitarian relief supplies to the 1.5 million prisoners in the
Gaza concentration camp.
CIA
Stooge Awlaki Prime Suspect Behind Plane Bomb Plot Paul Joseph Watson | Evidence screams
“false flag” as authorities seek to crush resistance against invasive airport
security measures, while Obama exploits event for domestic and geopolitical
gain.
Did
Obama Order British Authorities To Find Non-Existent Ink Bomb? After having
examined the suspicious ink toner device for six hours and found it to be a
dud, bomb experts at East Midlands Airport only reversed their decision after
being ordered to re-inspect the package by US authorities following President
Obama’s Friday afternoon speech in which he claimed that the devices did in
fact contain explosives.
Toner Bomb Plot
Used to Empower CIA In addition to adding new urgency and a fresh dose of
hysteria to the flagging war on manufactured terror, the toner bomb plot has
provided an excuse to rationalize the global reach of the CIA.
Yemen
Insists No Packages Sent 48 Hours Prior to Toner Bomb Hysteria Kurt Nimmo | As usual, the government
has not done a very good job of making the latest al-CIA-duh plot credible.
Obama
Issues Fake Terror Alert On Eve Of Elections As we predicted on four
separate occasions would happen, the Obama White House has deliberately
contrived a fake terror scare on the eve of the mid-term elections in an effort
to subdue the rampaging political appetite for anti-big government candidates
that threatens to sweep aside establishment incumbents next week. ]
Obama:
Suspicious packages are a 'credible terrorist threat' (Washington
Post) [October surprise anyone …
still October … trick or treat … there are skeptics … then there are some
who’ll say … just jewish synagogues, no big deal … nothing of strategic value …
healthy dose of skepticism … Obama
‘Fake Terror’ Alert Story Hits #1 on Google Aaron Dykes Infowars.com October 29, 2010 Efforts to warn the
population that the Obama Administration, like the Bush Administration before it, has engaged
in issuing fake terror alerts has gone viral, with the search term “fake terror” reaching #1 on
Google Trends. It is yet another success in the Infowar, initiated
on the Alex Jones Show. As we are just days out from the 2010 midterm
elections, voters must realize that the establishment has willfully engaged in
hyping up false alerts to scare the public into believing that we are under
siege by potential terrorist acts at all moments. Various “officials” have been
warning that an attack is likely to occur for weeks now, and it is no surprise
to see the Obama Administration trying to use the fear to its advantage. Recall
that Obama advisor and former top Clinton official, Robert Shapiro, alluded to the
idea that only a terror attack could save Obama’s presidency earlier
in the year.
“The bottom line here is that Americans don’t believe
in President Obama’s leadership,” said Shapiro, adding, “He has to find some
way between now and November of demonstrating that he is a leader who can command
confidence and, short of a 9/11 event or an Oklahoma City bombing, I can’t
think of how he could do that.”
Read the original story by Paul Joseph Watson here, as it has been updated.
GOP's
Palin paradox (Washington Post) Parker: She's too powerful to ignore, and too (fill-in-the-blank) to take
seriously. [ Say it! … Dumb! … Everybody knows it! … Cher even said it! … I
believe that this further evinces the leadership vacuum in america and is a
testament to how unequivocally far america has fallen. Powerful? I don’t think so! ]
Sarah
Palin: The Next Teleprompter Reader in the White House [ Not gonna’ happen
… she’s just too embarrassingly dumb …
and all that fake macho / zionist b*** s***
… unless her gal o’donnel casts a spell … which is a whole new ball game
… witches … really … how ‘bout dumb *******s …. she’s really dumb enough to
press the button. ] ? Kurt Nimmo | In 2008, Tea Party Sarah trekked to New York to
kiss Henry Kissinger’s ring.
Sarah
Palin: The Next Teleprompter Reader in the White House? [ Not gonna’ happen … she’s just too embarrassingly dumb … unless her gal o’donnel casts a spell …
which is a whole new ball game … witches … really … how ‘bout dumb *******s ...
and all that fake macho / zionist b*** s*** ... she’s really dumb enough to
press the button. ] It looks like the establishment is grooming Tea Party Sarah
for a run. She says as much in the Newsmax interview below.
Palin
calls reporters 'impotent' and 'limp' (Washington Post) [ I must reiterate,
she, palin’s so embarrassingly dumb! She truly is the joke that keeps on
giving! I really mean it! I mean, what next? ] The former Alaska governor
weighed in herself: "Those who are impotent and limp and gutless and they
go on their anonymous -- sources that are anonymous -- and impotent, limp and
gutless reporters take anonymous sources and cite them as being factual
references," she told Sean Hannity. "It just slays me ( this could be
a somewhat Freudian slip as she contemplates the uselessness of sexually
non-interested reporters while she meant lays and I think her supposed /
purported attractiveness / desirability is vastly overstated; but, this makes
for great SNL skits; you know, those reporters not man enough to service her
) because it's so absolutely clear what
the state of yellow journalism is today that they would take these anonymous
sources as fact."
The power of Palin's touch (Washington Post) [Wow! Talk about stupid. Murphy could have eliminated the middle-man (person) and appeared on SNL himself; maybe reprising a familiar (Eddie) Murphy role as Gumby 2, Son of Gumby. The only thing funnier is palin herself. She’s so embarrassingly dumb!] .Endorsement lifts little-known candidate in Md., giving the struggling campaign a "megaphone."
Comment on: 5 Myths about Sarah Palin at 10/14/2010 9:39 PM EDT
Test yourself to find out how much you
know about Sarah Palin. Take the quiz and after, check out The Washington
Post's 'Five Myths about Palin.' (Washington Post) [ Geeh! I scoured the quiz /
5 myths and nowhere did I see the obvious myth; viz., that she really has a
brain. Maybe gal pal pol protégé o’donnell can help her out … a few mysterious
words, a slimy newt (gingrich) in a caldron of b*** s*** , and voila … a new
reality which is what o’donnell herself is sorely in need of … O'Donnell,
evolved Milbank: She didn't mention mice with human brains in Wednesday's
debate. But she said silly things. Stromberg: O'Donnell is... wow The CNN host,
moderating the long awaited Delaware senatorial debate Wednesday night, was
trying to get the Republican nominee to talk about her 1998 statement on the
Bill Maher show that "evolution is a myth."
"Do you believe evolution is a myth?" Blitzer asked.
"I believe that the local ... " O'Donnell began, then started anew.
"I was talking about what a local school taught, and that should be
taught, that should be decided on the local community."
"Do you believe evolution is a myth?" the moderator repeated.
"Local schools should make that decision."
"What do you believe?"
"What I believe is irrelevant."
"Why is it irrelevant? Voters want to know."
"What I will support in Washington, D.C. is the ability of the local
school system to decide what is taught in their classrooms," O'Donnell
repeated.
The answer, though, was obvious: Of course she believes in evolution; she is a
product of evolution herself. She has evolved from a very odd woman who spoke
about the evils of masturbation and of mice with fully functioning human brains
and of her experience in sorcery (but she didn't join a coven!). …
Obama creates indefinite detention system for
prisoners at Guantanamo Bay (Washington Post) [ Sounds more like fellow failed
president/war criminal dumbya bush every day.
Meanwhile, back at the pervasively corrupt, defacto bankrupt american
credit farm (totalitarian communist china): New
restrictions on foreign journalists Under rules announced after foreign
journalists were physically harassed by security officers, foreign journalists
must have government permission to interview anyone in a public area.]
"After
standing on the stage, after the debates, I made it very plain, we will not
have an all-volunteer army. And yet, this week—we will have an all-volunteer
army. Let me restate that."—Daytona Beach, Fla., Oct. 16, 2004
"The
CIA laid out several scenarios and said life could be lousy, life could be
OK, life could be better, and they were just guessing as to what the conditions
might be like."—New York, Sept. 21, 2004
"Free
societies are hopeful societies. And free societies will be allies against
these hateful few who have no conscience, who kill at the whim of a
hat."—Washington, D.C., Sept. 17, 2004 (Thanks to David Stanford.)
"That's
why I went to the Congress last September and proposed fundamental—supplemental
funding, which is money for armor and body parts and ammunition and
fuel."—Erie, Pa., Sept. 4, 2004
"Too
many good docs are getting out of the business. Too many OB/GYN's aren't able
to practice their love with women all across the country."—Sept. 6, 2004,
Poplar Bluff, Mo.
"They've
seen me make decisions, they've seen me under trying times, they've seen me
weep, they've seen me laugh, they've seen me hug. And they know who I am, and I
believe they're comfortable with the fact that they know I'm not going to shift
principles or shift positions based upon polls and focus groups."
—Interview with USA Today, Aug. 27, 2004
"I
didn't join the International Criminal Court because I don't want to put our
troops in the hands of prosecutors from other nations. Look, if somebody has
done some wrong in our military, we'll take care of it. We got plenty of
capability of dealing with justice."—Niceville, Fla., Aug. 10, 2004
"So
community colleges are accessible, they're available, they're affordable, and
their curriculums don't get stuck. In other words, if there's a need for a
certain kind of worker, I presume your curriculums evolved over
time."—Niceville, Fla., Aug. 10, 2004
"Tribal
sovereignty means that, it's sovereign. You're a—you've been given sovereignty,
and you're viewed as a sovereign entity. And, therefore, the relationship
between the federal government and tribes is one between sovereign
entities."—Washington, D.C., Aug. 6, 2004
"Secondly,
the tactics of our—as you know, we don't have relationships with Iran. I mean,
that's—ever since the late '70s, we have no contacts with them, and we've
totally sanctioned them. In other words, there's no sanctions—you can't—we're out
of sanctions."—Annandale, Va., Aug. 9, 2004
"I
mean, if you've ever been a governor of a state, you understand the vast
potential of broadband technology, you understand how hard it is to make sure
that physics, for example, is taught in every classroom in the state. It's
difficult to do. It's, like, cost-prohibitive."—Washington, D.C., June 24,
2004 (Thanks to Michael Shively.)
"Our
enemies are innovative and resourceful, and so are we. They never stop thinking
about new ways to harm our country and our people, and neither do
we."—Washington, D.C., Aug. 5, 2004 (Thanks to Alicia Butler.)
"And
I am an optimistic person. I guess if you want to try to find something to be
pessimistic about, you can find it, no matter how hard you look, you
know?"—Washington, D.C., June 15, 2004 (Thanks to Robert Irwin.)
"[A]
free Iraq is essential to our respective securities."—Washington, D.C.,
June 1, 2004
"I
want to thank my friend, Sen. Bill Frist, for joining us today. … He married a
Texas girl, I want you to know. (Laughter.) Karyn is with us. A West Texas
girl, just like me."—Nashville, Tenn., May 27, 2004
"I'm
honored to shake the hand of a brave Iraqi citizen who had his hand cut off by
Saddam Hussein."—Washington, D.C., May 25, 2004
"This
has been tough weeks in that country."—Washington, D.C., April 13, 2004
(Thanks to David Huddleston.)
"[B]y
the way, we rank 10th amongst the industrialized world in broadband
technology and its availability. That's not good enough for America. Tenth is
10 spots too low as far as I'm concerned."—Minneapolis, Minn., April 26,
2004
"My
job is to, like, think beyond the immediate."—Washington, D.C., April 21,
2004
"This
is historic times."—New York, N.Y., April 20, 2004
"Obviously,
I pray every day there's less casualty."—Fort Hood, Texas, April 11, 2004
(Thanks to Pat Gallagher.)
"Recession
means that people's incomes, at the employer level, are going down, basically,
relative to costs, people are getting laid off."—Washington, D.C., Feb.
19, 2004 (Thanks to Garry Trudeau.)
"God
loves you, and I love you. And you can count on both of us as a powerful
message that people who wonder about their future can hear."—Los Angeles,
Calif., March 3, 2004 (Thanks to Tanny Bear.)
"The
march to war affected the people's confidence. It's hard to make investment.
See, if you're a small business owner or a large business owner and you're
thinking about investing, you've got to be optimistic when you invest. Except
when you're marching to war, it's not a very optimistic thought, is it? In
other words, it's the opposite of optimistic when you're thinking you're going
to war." —Springfield, Mo., Feb. 9, 2004 (Thanks to Garry Trudeau.)
"See,
one of the interesting things in the Oval Office—I love to bring people into
the Oval Office—right around the corner from here—and say, this is where I
office, but I want you to know the office is always bigger than the
person."—Washington, D.C., Jan. 29, 2004 (Thanks to Michael Shively.)
"More
Muslims have died at the hands of killers than—I say more Muslims—a lot of
Muslims have died—I don't know the exact count—at Istanbul. Look at these
different places around the world where there's been tremendous death and
destruction because killers kill."—Washington, D.C., Jan. 29, 2004 (Thanks
to Michael Shively.)
"In
an economic recession, I'd rather that in order to get out of this recession,
that the people be spending their money, not the government trying to figure
out how to spend the people's money."—Tampa, Fla., Feb. 16, 2004
"King
Abdullah of Jordan, the King of Morocco, I mean, there's a series of
places—Qatar, Oman—I mean, places that are developing—Bahrain—they're all
developing the habits of free societies."—Washington, D.C., Jan. 29, 2004
"But
the true strength of America is found in the hearts and souls of people like
Travis, people who are willing to love their neighbor, just like they would
like to love themselves."—Springfield, Mo., Feb. 9, 2004 (Thanks to George
Dupper.)
"My
views are one that speaks to freedom."—Washington, D.C., Jan. 29, 2004
"In
my judgment, when the United States says there will be serious consequences,
and if there isn't serious consequences, it creates adverse consequences."
"There
is no such thing necessarily in a dictatorial regime of iron-clad absolutely
solid evidence. The evidence I had was the best possible evidence that he
had a weapon."
"The
recession started upon my arrival. t could have been—some say February,
some say March, some speculate maybe earlier it started—but nevertheless, it happened
as we showed up here. The attacks on our country affected our economy.
Corporate scandals affected the confidence of people and therefore affected the
economy. My decision on Iraq, this kind of march to war, affected the
economy."—Meet the Press, Feb. 8, 2004
"I
was a prisoner too, but for bad reasons."—To Argentine President Nestor
Kirchner, on being told that all but one of the Argentine delegates to a summit
meeting were imprisoned during the military dictatorship, Monterrey, Mexico,
Jan. 13, 2004
"[T]he
illiteracy level of our children are appalling."—Washington, D.C., Jan.
23, 2004 (Thanks to Lewell Gunter.)
"Just
remember it's the birds that's supposed to suffer, not the
hunter."—Advising quail hunter and New Mexico Sen. Pete Domenici, Roswell,
N.M., Jan. 22, 2004
"One
of the most meaningful things that's happened to me since I've been the
governor—the president—governor—president. Oops. Ex-governor. I went to
Bethesda Naval Hospital to give a fellow a Purple Heart, and at the same moment
I watched him—get a Purple Heart for action in Iraq—and at that same—right
after I gave him the Purple Heart, he was sworn in as a citizen of the United
States—a Mexican citizen, now a United States citizen."—Washington, D.C.,
Jan. 9, 2004
"I
want to thank the astronauts who are with us, the courageous spacial
entrepreneurs who set such a wonderful example for the young of our
country."—Washington, D.C., Jan. 14, 2004
"And
if you're interested in the quality of education and you're paying attention to
what you hear at Laclede, why don't you volunteer? Why don't you mentor a child
how to read?"—St. Louis, Mo., Jan. 5, 2004
"So
thank you for reminding me about the importance of being a good mom and a great
volunteer as well."—St. Louis, Jan. 5, 2004
"I
want to remind you all that in order to fight and win the war, it requires an
expenditure of money that is commiserate with keeping a promise to our troops
to make sure that they're well-paid, well-trained, well-equipped."
"See, without the tax relief package, there would have been a deficit, but
there wouldn't have been the commiserate—not 'commiserate'—the kick to our
economy that occurred as a result of the tax relief."
"[T]he best way to find these terrorists who hide in holes is to get
people coming forth to describe the location of the hole, is to give clues and
data."
"Justice was being delivered to a man who defied that gift from the
Almighty to the people of Iraq."—Washington, D.C., Dec. 15, 2003
"[A]s
you know, these are open forums, you're able to come and listen to what I have
to say."—Washington, D.C., Oct. 28, 2003
"The
ambassador and the general were briefing me on the—the vast majority of Iraqis
want to live in a peaceful, free world. And we will find these people and we
will bring them to justice."—Washington, D.C., Oct. 27, 2003 (Thanks to
Robert Hack.)
"[W]hether
they be Christian, Jew, or Muslim, or Hindu, people have heard the universal
call to love a neighbor just like they'd like to be called
themselves."—Washington, Oct. 8, 2003 (Thanks to George Dupper.)
"See,
free nations are peaceful nations. Free nations don't attack each other. Free
nations don't develop weapons of mass destruction."—Milwaukee, Wis., Oct.
3, 2003
"[W]e've
had leaks out of the administrative branch, had leaks out of the legislative
branch, and out of the executive branch and the legislative branch, and I've
spoken out consistently against them, and I want to know who the leakers
are."—Chicago, Sept. 30, 2003
"Washington
is a town where there's all kinds of allegations. You've heard much of the
allegations. And if people have got solid information, please come forward with
it. And that would be people inside the information who are the so-called
anonymous sources, or people outside the information—outside the administration."—Chicago,
Sept. 30, 2003 (Thanks to Andy Bowers.)
"[T]hat's
just the nature of democracy. Sometimes pure politics enters into the
rhetoric."—Crawford, Texas, Aug. 8, 2003 (Thanks to Inigo Thomas.)
"I
glance at the headlines just to kind of get a flavor for what's moving. I
rarely read the stories, and get briefed by people who are probably read the
news themselves."—Washington, D.C., Sept. 21, 2003
"I'm
so pleased to be able to say hello to Bill Scranton. He's one of the
great Pennsylvania political families."—Drexel Hill, Penn., Sept. 15, 2003
(Thanks to Michael Shively.)
"We
had a good Cabinet meeting, talked about a lot of issues. Secretary of State
and Defense brought us up to date about our desires to spread freedom and peace
around the world."—Washington, D.C., Aug. 1, 2003 (Thanks to Tanny Bear.)
"Security
is the essential roadblock to achieving the road map to
peace."—Washington, D.C., July 25, 2003
"Our
country puts $1 billion a year up to help feed the hungry. And we're by far the
most generous nation in the world when it comes to that, and I'm proud to
report that. This isn't a contest of who's the most generous. I'm just telling
you as an aside. We're generous. We shouldn't be bragging about it. But we are.
We're very generous."—Washington, D.C., July 16, 2003
"It's
very interesting when you think about it, the slaves who left here to go to
America, because of their steadfast and their religion and their belief in
freedom, helped change America."—Dakar, Senegal, July 8, 2003 (Thanks to
Michael Shively.)
"My
answer is bring them on."—On Iraqi militants attacking U.S. forces,
Washington, D.C., July 3, 2003
"You've
also got to measure in order to begin to effect change that's just more—when
there's more than talk, there's just actual—a paradigm shift."—Washington,
D.C., July 1, 2003 (Thanks to Michael Shively.)
"I
urge the leaders in Europe and around the world to take swift, decisive action
against terror groups such as Hamas, to cut off their funding, and to
support—cut funding and support, as the United States has
done."—Washington, D.C., June 25, 2003
"Iran
would be dangerous if they have a nuclear weapon."—Washington, D.C., June
18, 2003
"Now,
there are some who would like to rewrite history—revisionist historians is what
I like to call them."—Elizabeth, N.J., June 16, 2003
"I
am determined to keep the process on the road to peace."—Washington, D.C.,
June 10, 2003 (Thanks to Tanny Bear.)
"The
true strength of America happens when a neighbor loves a neighbor just like
they'd like to be loved themselves."—Elizabeth, N.J., June 16, 2003
"We
are making steadfast progress."—Washington, D.C., June 9, 2003 (Thanks to
Michael Shively.)
"I'm
the master of low expectations."—Aboard Air Force One, June 4, 2003
"I'm
also not very analytical. You know I don't spend a lot of time thinking about
myself, about why I do things."—Aboard Air Force One, June 4, 2003
"I
recently met with the finance minister of the Palestinian Authority, was very
impressed by his grasp of finances."—Washington, D.C., May 29, 2003
"Oftentimes,
we live in a processed world—you know, people focus on the process and not
results."—Washington, D.C., May 29, 2003
"I've
got very good relations with President Mubarak and Crown Prince Abdallah and
the King of Jordan, Gulf Coast countries."—Washington, D.C., May 29, 2003
"All
up and down the different aspects of our society, we had meaningful
discussions. Not only in the Cabinet Room, but prior to this and after this
day, our secretaries, respective secretaries, will continue to interact to create
the conditions necessary for prosperity to reign."—Washington, D.C., May
19, 2003
"First,
let me make it very clear, poor people aren't necessarily killers. Just because
you happen to be not rich doesn't mean you're willing to
kill."—Washington, D.C., May 19, 2003
"We
ended the rule of one of history's worst tyrants, and in so doing, we not only
freed the American people, we made our own people more secure."—Crawford,
Texas, May 3, 2003 (Thanks to Tony Marciniec.)
"We've
had a great weekend here in the Land of the Enchanted."—Albuquerque, N.M.,
May 12, 2003 (New Mexico's state nickname is "Land of Enchantment.")
"We've
got hundreds of sites to exploit, looking for the chemical and biological
weapons that we know Saddam Hussein had prior to our entrance into
Iraq."—Santa Clara, Calif., May 2, 2003 (Thanks to Michael Shively.)
"I
think war is a dangerous place."—Washington, D.C., May 7, 2003
"I
don't bring God into my life to—to, you know, kind of be a political
person."—Interview with Tom Brokaw aboard Air Force One, April 24, 2003
"You're
free. And freedom is beautiful. And, you know, it'll take time to restore chaos
and order—order out of chaos. But we will."—Washington, D.C., April 13,
2003
"Perhaps
one way will be, if we use military force, in the post-Saddam Iraq the U.N.
will definitely need to have a role. And that way it can begin to get its legs,
legs of responsibility back."—the Azores, Portugal, March 16, 2003
"I
know there's a lot of young ladies who are growing up wondering whether or not
they can be champs. And they see the championship teams from USC and University
of Portland here, girls who worked hard to get to where they are, and they're
wondering about the example they're setting. What is life choices
about?"—Washington, D.C., Feb. 24, 2003
"Now,
we talked to Joan Hanover. She and her husband, George, were visiting with us.
They are near retirement—retiring—in the process of retiring, meaning they're
very smart, active, capable people who are retirement age and are
retiring."—Alexandria, Va., Feb. 12, 2003 (Thanks to Dennis Doubleday.)
"Columbia
carried in its payroll classroom experiments from some of our students in
America."—Bethesda, Md., Feb. 3, 2003
"And,
most importantly, Alma Powell, secretary of Colin Powell, is with
us."—Washington, D.C., Jan. 30, 2003
"The
war on terror involves Saddam Hussein because of the nature of Saddam Hussein,
the history of Saddam Hussein, and his willingness to terrorize
himself."—Grand Rapids, Mich., Jan. 29, 2003
"When
Iraq is liberated, you will be treated, tried, and persecuted as a war
criminal."—Washington, D.C., Jan. 22, 2003 (Thanks to Chad Conwell.)
"Many
of the punditry—of course, not you (laughter)—but other punditry were quick to
say, no one is going to follow the United States of America."—Washington,
D.C., Jan. 21, 2003
"One
year ago today, the time for excuse-making has come to an
end."—Washington, D.C., Jan. 8, 2003
"I
think the American people—I hope the American–I don't think, let me—I hope the
American people trust me."—Washington, D.C., Dec. 18, 2002
"The
goals for this country are peace in the world. And the goals for this country
are a compassionate American for every single citizen. That compassion is found
in the hearts and souls of the American citizens."—Washington, D.C., Dec.
19, 2002 (Thanks to Michael Shively.)
"There's
only one person who hugs the mothers and the widows, the wives and the kids
upon the death of their loved one. Others hug but having committed the troops,
I've got an additional responsibility to hug and that's me and I know what it's
like."—Washington, D.C., Dec. 11, 2002
"In
other words, I don't think people ought to be compelled to make the decision
which they think is best for their family."—Washington, D.C., Dec. 11,
2002 (Thanks to Stephanie Nichols.)
"Sometimes,
Washington is one of these towns where the person—people who think they've got
the sharp elbow is the most effective person." —New Orleans, Dec. 3, 2002
(Thanks to Michael Shively.)
"The
law I sign today directs new funds and new focus to the task of collecting
vital intelligence on terrorist threats and on weapons of mass
production."—Washington, D.C., Nov. 27, 2002
"These
people don't have tanks. They don't have ships. They hide in caves. They send
suiciders out."—Speaking about terrorists, Portsmouth, N.H., Nov. 1, 2002
"I
know something about being a government. And you've got a good
one."—Stumping for Gov. Mike Huckabee, Bentonville, Ark., Nov. 4, 2002
"I
need to be able to move the right people to the right place at the right time
to protect you, and I'm not going to accept a lousy bill out of the United
Nations Senate."—South Bend, Ind., Oct. 31, 2002
"John
Thune has got a common-sense vision for good forest policy. I look forward to
working with him in the United Nations Senate to preserve these national
heritages."
"Any
time we've got any kind of inkling that somebody is thinking about doing
something to an American and something to our homeland, you've just got to know
we're moving on it, to protect the United Nations Constitution, and at the same
time, we're protecting you."—Aberdeen, S.D., same day (Thanks to George
Dupper.)
"Let
me tell you my thoughts about tax relief. When your economy is kind of ooching
along, it's important to let people have more of their own money."—Boston,
Oct. 4, 2002
"I
was proud the other day when both Republicans and Democrats stood with me in
the Rose Garden to announce their support for a clear statement of purpose: you
disarm, or we will."—Speaking about Saddam Hussein, Manchester, N.H., Oct.
5, 2002 (Thanks to George Dupper.)
"You
see, the Senate wants to take away some of the powers of the administrative
branch."—Washington, D.C., Sept. 19, 2002
"We
need an energy bill that encourages consumption."—Trenton, N.J., Sept. 23,
2002
"People
say, how can I help on this war against terror? How can I fight evil? You can
do so by mentoring a child; by going into a shut-in's house and say I love
you."—Washington, D.C., Sept. 19, 2002
"I'm
plowed of the leadership of Chuck Grassley and Greg Ganske and Jim
Leach."—Davenport, Iowa, Sept. 16, 2002
"There's
an old saying in Tennessee—I know it's in Texas, probably in Tennessee—that
says, fool me once, shame on—shame on you. Fool me—you can't get fooled
again."—Nashville, Tenn., Sept. 17, 2002
"There's
no doubt in my mind that we should allow the world worst leaders to hold
America hostage, to threaten our peace, to threaten our friends and allies with
the world's worst weapons."—South Bend, Ind., Sept. 5, 2002
"If
you don't have any ambitions, the minimum-wage job isn't going to get you to
where you want to get, for example. In other words, what is your ambitions? And
oh, by the way, if that is your ambition, here's what it's going to take to
achieve it."—Speech to students in Little Rock, Ark., Aug. 29, 2002
(Thanks to George Dupper.)
"See,
we love—we love freedom. That's what they didn't understand. They hate things;
we love things. They act out of hatred; we don't seek revenge, we seek justice
out of love."—Oklahoma City, Aug. 29, 2002
"There's
no cave deep enough for America, or dark enough to hide."—Oklahoma
City, Aug. 29, 2002 (Thanks to Michael Shively.)
"President
Musharraf, he's still tight with us on the war against terror, and that's what
I appreciate. He's a—he understands that we've got to keep al-Qaida on the
run, and that by keeping him on the run, it's more likely we will bring him to
justice."—Ruch, Ore., Aug. 22, 2002 (Thanks to Scott Miller.)
"I'm
a patient man. And when I say I'm a patient man, I mean I'm a patient
man."
"Nothing
he [Saddam Hussein] has done has convinced me—I'm confident the Secretary of
Defense—that he is the kind of fellow that is willing to forgo weapons of mass
destruction, is willing to be a peaceful neighbor, that is—will honor the
people—the Iraqi people of all stripes, will—values human life. He hasn't
convinced me, nor has he convinced my administration."—Crawford, Texas,
Aug. 21, 2002
"I'm
thrilled to be here in the bread basket of America because it gives me a chance
to remind our fellow citizens that we have an advantage here in America—we can
feed ourselves."—Stockton, Calif., Aug. 23, 2002 (Thanks to Christopher
Baird.)
"There's
no bigger task than protecting the homeland of our country."
"The
federal government and the state government must not fear programs who change
lives, but must welcome those faith-based programs for the embetterment of
mankind."—Stockton, Calif., Aug. 23, 2002 (Thanks to George Dupper.)
"I
love the idea of a school in which people come to get educated and stay in the
state in which they're educated."
"There
may be some tough times here in America. But this country has gone through
tough times before, and we're going to do it again."
"I
promise you I will listen to what has been said here, even though I wasn't
here."
"I
can assure you that, even though I won't be sitting through every single moment
of the seminars, nor will the vice president, we will look at the
summaries."
"Tommy
[Thompson, Health and Human Services secretary,] is a good listener, and he's a
pretty good actor, too."
"The
trial lawyers are very politically powerful. … But here in Texas we took them
on and got some good medical—medical malpractice.""I firmly believe
the death tax is good for people from all walks of life all throughout our
society."
—Waco,
Texas, Aug. 13, 2002
"There
was no malfeance involved. This was an honest disagreement about accounting
procedures. ... There was no malfeance, no attempt to hide
anything."—White House press conference, Washington, D.C., July 8, 2002
"I
also understand how tender the free enterprise system can be."—White House
press conference, Washington, D.C., July 9, 2002
"Over
75 percent of white Americans own their home, and less than 50 percent of
Hispanos and African Americans don't own their home. And that's a gap, that's a
homeownership gap. And we've got to do something about it."—Cleveland,
Ohio, July 1, 2002
"Whether
you're here by birth, or whether you're in America by choice, you contribute to
the vitality of our life. And for that, we are grateful."—Washington,
D.C., May 17, 2002
"I'd
rather have them sacrificing on behalf of our nation than, you know, endless
hours of testimony on congressional hill."—National Security Agency, Fort
Meade, Maryland, June 4, 2002
"We're
working with Chancellor Schröder on what's called 10-plus-10-over-10: $10
billion from the U.S.,$10 billion from other members of the G7 over a 10-year
period, to help Russia securitize the dismantling—the dismantled nuclear
warheads."—Berlin, Germany, May 23, 2002
"Do
you have blacks, too?"—To Brazilian President Fernando Cardoso,
Washington, D.C., Nov. 8, 2001
"This
is a nation that loves our freedom, loves our country."—Washington, D.C,
May 17, 2002
"The
public education system in America is one of the most important foundations of
our democracy. After all, it is where children from all over America learn to
be responsible citizens, and learn to have the skills necessary to take
advantage of our fantastic opportunistic society."—Santa Clara, Calif.,
May 1, 2002
"After
all, a week ago, there were—Yasser Arafat was boarded up in his building in
Ramallah, a building full of, evidently, German peace protestors and all kinds
of people. They're now out. He's now free to show leadership, to lead the
world."—Washington, D.C., May 2, 2002 (Thanks to M. Bateman.)
"This
foreign policy stuff is a little frustrating."—as quoted by the New
York Daily News, April 23, 2002
"I
want to thank the dozens of welfare to work stories, the actual examples of
people who made the firm and solemn commitment to work hard to embetter
themselves."—Washington, D.C., April 18, 2002 (Thanks to George Dupper.)
"And
so, in my State of the—my State of the Union—or state—my speech to the nation,
whatever you want to call it, speech to the nation—I asked Americans to give
4,000 years—4,000 hours over the next—the rest of your life—of service to
America. That's what I asked—4,000 hours." —Bridgeport, Conn., April 9,
2002 …(there are many more)
Election outcome may complicate Obama's
foreign policy (Washington Post)
[ Wow! That’s all this country
needs … a more self-destructive zionist-leaning foreign policy which, as
obvious to the rest of the world, ignores israel’s transgressions (ie., violations
of international law, u.n. resolutions, nuclear non-proliferation treaty, etc.)
while focusing on geopolitically detrimental or otherwise, non-events. I see an
already zionist-leaning foreign policy with wobama and co. which begs the
question … What foreign policy? James Forrestal made the point infra: ]
Obama
cites Indonesia as model for Muslims (Washington Post)[
Drudgereport: Obama slams israel from
Jakarta … [ Wow! Who woulda’ thunk it … Wobama growing gonads in Indonesia … He
is quite correct, albeit in one of those sparingly infrequent moments … But,
alas … he’ll be returning to ‘little israel’ soon (usa) and I’m sure his
rhetoric will return to typical pro-israeli (anti-american interest) actions
and words (b*** s***)! ]...
netanayahu takes Flight
Back...
Confronts Anti-israel
Reality/Truth Movement in USA...
China Ratings
Agency Downgrades America... ] In city he
once lived in as a boy, Obama heralds nation's "spirit of tolerance"
that allows mosques, churches and temples to co-exist in a democracy.
Deaths of four Americans reflect increasing
violence of Somali piracy (Washington Post) [ Drudgereport: U.S. Warship Tracking Yacht
Hijacked by Somali Pirates... [ I realize there are ‘laws of the
sea’ / codified bodies of law within that broad yet very specific category
called ‘maritime law’, none of which I know nor care to know (I’ll content
myself to knowing and seeing to the enforcement of american law as pertains to
me; viz., RICO http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm . I
do know that these somali pirates need killin’ and I further believe that open
season on them including using their boats in the water for target practice
makes sense and certainly is morally justified. I’m tired of hearing about
those little weasels … you know, ‘the skinnies’. ]
Progress in Afghan war called 'uneven'
( Washington Post ) [ Uneven? Riiiiight! The real question
consonant with reality: Is there EVEN progress at all … just a little bit … un
petit peux … teeny weeny, itsy bitsy, one iota of progress … A resounding NO! …
unless you’re counting the magnitude of america’s defacto bankruptcy,
anti-american sentiment, etc.. ]
Visiting U.S. senators praise Afghan
progress, say drawdown date is unrealistic (Washington Post) [ I’ll
tell you what’s unrealistic: having compromised senators ( ie., non-war-heroe
senile mccain, closet homosexual graham, incompetent zelig zionist lieberman, new
york sinkhole slug Kirsten Gillibrand
chided As 'Schumer's (zionist) Little Girl' ) stay the course with already
failed pervasively corrupt, defacto bankrupt american policy … Paul
Craig Roberts: Government Abandoned Vietnam POWs Kurt
Nimmo |
John McCain worked overtime to make sure Vietnam POWs never came home. I think
the even bigger story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm
‘Did you know that that so-called "american heroe" john mccain was
referred to by his fellow pows in Vietnam as something akin to the
"songbird" inasmuch as he was constantly "singing" to his
Viet-Cong captors to curry favor and better treatment? This has been documented
with authority by Colonel David Hackworth. The same violates military
code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm
] But, you see, this covered up scenario, compromizing the false facade
of far less than a heroe, is exactly what a criminal (lie of a) nation as
america loves and encourages (get everyone's hands dirty so no-one dares to
rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the
(corrupt, propagandized) line", become a criminal, or be exposed,
prosecuted, and/or ruined; and, hasn't anyone asked how "wall street"
has been "spared the spotlight" (and even was accorded protective
legislation from their criminal culpability) and focus of inquiry, attention,
and prosecution despite being the primary beneficiaries financial and otherwise
of these scams (you know the wall street motto, "churn and earn";
huge conflicts of interest if not outright fraud)…’…Oh and they so can afford
it Deficit
panel proposes huge cuts (Washington Post) [ Cuts? I heard the corrupt, incompetent
lawmakers were giving themselves a raise. They actually deserve at least a 10%
paycut and abolition of those lifetime appointments / permanent corrupt
bureaucracies. Nothing succeeds like failure and crime in pervasively corrupt,
defacto bankrupt america! ] Lawmakers propose curbs on Social Security, cuts in
spending and tax hikes if long-term goals aren't met.
Families remember USS Cole 10 years later
(Washington Post) [ If only Americans remembered the uss
liberty, they’d understand the israeli albatross strangling and bleeding the
life out of america as they have since that
fateful day.] In
the Middle East, it's still 1947 (Washington
Post) [ Indeed it should be! Among the few
times the cia was correct, and they’ve been trying to put square pegs in round
holes ever since, to america’s substantial detriment. I wonder what what those
american sailors of the US Liberty killed by the israelis would say?
USS
Liberty Survivor Threatened by Unknown Israeli This is what happened to Phillip F. Tourney,
decorated war hero and survivor of Israel’s premeditated attack on the USS
Liberty 43 years ago. On the evening of Aug. 6, Tourney was verbally threatened
by a foreign national claiming to work for the government of israel. As for the
purported disdain shown for war mongerer netanayahu, if only wobama’s actions
matched his words, the same would represent a major plus for him and the nation
of america, so sorely in need of pluses whether the same be budgetary or
economic or geopolitical. In fact, for America to abrogate 1948 would guarantee
America’s survival, prosperity, and global hegemony in the most positive sense.
]
‘The Obama Deception’
Censored A viral You Tube upload of
one of Alex Jones’ most popular feature films ‘The Obama Deception’ has been
censored following a spur of the moment campaign to elevate the movie’s title
to the top of the major internet search engines. In light of
this development, I provide an archived site version which appears to be
complete (but will be compared with earlier version and replaced with same if
incomplete) http://albertpeia.com/obamadeceptionhighqualityversion.flv
Ethics
code urged for Supreme Court
(Washington
Post) [ Sounds like a plan! Come on!
Wake up! After all, what can you expect from two guidos from ‘jersey (alito and
scalia, colloquial – note that I have refrained from using what some might
consider disparaging terms as w*p*, gui***s, or da***s … and let me state for
the record that I truly loved and respected my grandmother who was 100%
Italian/Bari,Italy and as well my grandfather/Lake Como,northern Italy with
greek ancestral roots and thereby claim standing/right to posit the criticism
in light of my direct experience. ). How ‘bout starting with enforcing laws as
to judges, liars, etc., within the very corrupted american illegal system; and,
particularly bribes which in one form or another are rampant . I don’t know
about Thomas, but I do know about alito and ‘jersey … :
October
15, 2010 (*see infra)
Steven
M. Martinez, Assistant Director In Charge
Federal Bureau of Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los
Angeles, CA 90024
Dear Sir:
I enclose herewith 3 copies of the within
DVD rom autorun disk (which will open in your computer’s browser) as per your
office’s request as made this day (the disk and contents have been scanned by
Avast, McAfee, and Norton which I’ve installed on my computer to prevent viral
attacks / infection and are without threat). I also include 1 copy of the DVD
as filed with the subject court as referenced therein (which files are also
included on the aforesaid 3 disks in a separate folder named ‘112208opocoan’).
The (civil) RICO action (as you’re aware, the RICO Act is a criminal statute
which provides a civil remedy, including treble damages and attorney fees, as
an incentive for private prosecution of said claims probably owing to the fact
that the USDOJ seems somewhat overwhelmed and in need of such assistance given
the seriousness and prevalence of said violations of law which have a
corrupting influence on the process, and which corruption is pervasive). A
grievance complaint against Coan was also filed concurrently with the subject
action and held in abeyance pending resolution of the action which was
illegally dismissed without any supporting law and in contravention of the
Order of The Honorable Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The files below the horizontal rule are the referenced documents
as filed. (Owing to the damage to the financial interests of both the U.S. and
the District of Congresswoman Roybal-Allard, viz., Los Angeles, the
Qui Tam provisions of the Federal
False Claims Act probably would apply and I would absent resolution seek to
refer the within to a firm with expertise in that area of the law with which I
am not familiar).
The
document in 5 pages under penalty of perjury I was asked to forward to the FBI
office in New Haven is probably the best and most concise summary of the
case RICO Summary to FBI Under Penalty
of Perjury at Their Request (5 pages) [
ricosummarytoFBIunderpenaltyofperjury.pdf http://albertpeia.com/ricosummarytoFBIunderpenaltyofperjury.pdf ].
The correspondence I received from the
Congresswoman by way of email attachment (apparent but typical problem with my mail)
along with my response thereto is included on the 3 disks as fbicorrespondencereyes.htm .
With regard to the calls to the FBI’s LA and New Haven, CT offices:
There was one call to the LA office and I was referred to the Long Beach, CA
office where I personally met with FBI Agent Jeff Hayes to whom I gave
probative evidentiary documents of the money laundering which he confirmed as
indicative of same (he was transferred from said office within approximately a
month of said meeting and his location was not disclosed to me upon inquiry).
The matter was assigned to FBI Agent Ron Barndollar and we remained in touch
for in excess of a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani
whose father I stated had been an enforcer for the mob to which he registered
disbelief and requested I prove it, which I did – he served 12 years in prison,
aggravated assault/manslaughter? – and no, there is no Chinese wall of
separation – Andrew Maloney’s the one that prosecuted gotti).
In contradistinction to the statement in
said correspondence, there is a plethora of information including evidence
supporting the claims set forth in the
RICO VERIFIED COMPLAINT (see infra). Such includes and as set forth
in the case, inter alia,
There is applicable insurance / surety
coverage and neither LA, nor creditors, nor I should continue to have been
damaged by this brazened corrupt and illegal scenario, which should be resolved
in accordance with the meaningful rules of law apposite thereto.
Sincerely,
Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there
are unresolved problems with the line, computer connection may be the reason but
I hesitate to chance greater non-performance / worsening by their ‘fix’ so cell
phone best for contact).
----------
*The foregoing and as indicated therein was
previously send 9-14-10 but delivery confirmation was flawed as set forth below
and my inquiries to the u.s. postal service rebuffed (I believe tampered with
inasmuch as your office could not locate same). This cover letter (9-13-10) is
on the 3 disks with navigable hyperlinks to the subject files for ease of
reference, including the files in the RICO action as indicated. (10-15-10) I
spoke with Rose, FBI, ADIC Secretary, who indicates once again that your office
has not received the aforesaid and which can reasonably be presumed to have
been tampered with, and hence, a violation of the federal statute concerning
same. ]
----------
*The foregoing and as indicated therein was
previously send 9-14-10 but delivery confirmation was flawed as set forth below
and my inquiries to the u.s. postal service rebuffed (I believe tampered with
inasmuch as your office could not locate same). This cover letter (9-13-10) is
on the 3 disks with navigable hyperlinks to the subject files for ease of
reference, including the files in the RICO action as indicated.
-----
Label/Receipt Number: 0310 1230 0000 0862
8183
Expected Delivery Date: September 15, 2010
Class: Priority Mail®
Service(s): Delivery Confirmation™
Status: Delivered
Your item was delivered at 10:14 am on
September 15, 2010 in LOS ANGELES, CA 90024.
Track
and Confirm
Enter Label/Receipt Number.
Enter Label / Receipt Number.
Detailed Results:
Bullet Delivered,
September 15, 2010, 10:14 am, LOS ANGELES, CA 90024
Bullet Arrival
at Post Office, September 15, 2010, 4:12 am, LOS ANGELES, CA 90024
Bullet Processed
through Sort Facility, September 14, 2010, 8:29 pm, LOS ANGELES, CA 90052
Bullet Acceptance,
September 14, 2010, 4:04 pm, LOS ANGELES, CA 90017
----
Sent
Postage Prepaid: United States Mail - VIA Priority Mail, Delivery Confirmation
and VIA Certified Mail this 5th day of October, 2010.
Signed: ___________________________________
Albert L.
Peia
Judges
rule without title, lenders can't foreclose (Washington Post) [ Rules of law? I didn’t think
they cared. That’s certainly the direct experience I’ve had with the
pervasively corrupt american legal / judicial system (along with the other two
branches of the u.s. government and defact bankrupt america generally). Court
decisions could call into doubt the ownership of mortgages, raising urgent challenges
for both the real estate market, wider financial system. Connecticut,
California join probe of Ally (Washington Post) [I’d be much more impressed if they initiated
a probe of more readily discernible criminal offenses in violation of the RICO
Act http://albertpeia.com Frauds/Liars
(sic-lawyers)Covering Up for Other Frauds/Liars (sic-lawyers). In Productive
Societies as China, Japan, etc., Fraudulent Liars (sic-lawyers) and the
Fraudulent u.s. System They're a Part of Are Unheard Of/Non-existent. List of
Files Regarding Filed Attorney Grievance Against Fraud coan et als Or Here For A Clearer View Of
Filed
Grievance Complaint, Response, Exhibits, and Related RICO Filings Note the Committee of
Frauds/Liars (sic-lawyers). Included are DOJ Rep., State Court Rep., State
Atty. General Office Rep., and even a Vegetable Garden yale law prof who
probably never practiced law in his life. How Pathetic! http://albertpeia.com/fbiofficela91310
] Justice:
FBI improperly opened probes
(Washington Post) [ I just hope
they’re as zealous (in probing readily discernible crime) with regard to my
RICO matters and the corruption in the (judicial / legal) process since, in the
final analysis, it will have been the corruption within that will have brought
the nation down irrevocably and totally.
• Audio: Obama on terrorism tactics
A subtler tack to fight Afghan corruption?
(Washington
Post) [ How about a not so subtler tack to
fight corruption starting right here in the u.s. of a. where corruption and
crime are pervasive and in fact, at the root of the Afghanistan problems, from
american reinvigorated heroin trade to bribery attendant thereto to killing
civilians, etc.. Defacto Bankrupt, Meaningfully Lawless,
War Criminal Nation america, the leader of nations … in crime:
Though
having but 5% of the world’s population, america can boast 76% of the world’s
serial killers, followed by Europe with England/UK then Germany leading the way
for the eu [excerpt, 6 minute video, Serial
Killers: Real Life Hannibal Lechters http://www.albertpeia.com/realifeamericaserialkillers.mpg (as is consistent with crime generally,
see infra)]. Defacto bankrupt, fraudulent america also spends more on offensive
(defensive a misnomer / propaganda) military spending than all the nations of
the world combined, and by a large margin at that. Do you see a pattern
emerging here [ I unfortunately only belatedly did, and the feds, fed
employees, cia, all 3 branches of the u.s. government, etc., are included in
this evolved american trait of inherent criminality in the most nefarious sense
( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
) ]:
Rank |
|||
# 1
|
11,877,218 |
|
|
# 2
|
6,523,706 |
|
|
# 3
|
6,507,394 |
|
… ]
Stepped-up
efforts fail to stem drug money (Washington Post) [ Come on! Wake up! That’s american, yes
american big business. The stuff that the war in Afghanistan is made of; viz.,
ie., heroin, etc.. ]Stashing cash in spare tires, engine transmissions and
truckloads of baby diapers, couriers for Mexican drug cartels are moving tens
of billions of dollars in profits south across the border each year, a river of
dirty money that has overwhelmed U.S. and Mexican customs agents.
Mideast Digest: Iran's Ahmadinejad
calls for regional solution to Afghan crisis (Washington
Post) And appropriately so, as leader of a nation in the region as opposed to
invading nations from outside the region (particularly as one targeted by
assassins the likely assigns of those outside the region).
Judge: 'Don't ask, don't tell' is
unconstitutional (Washington Post) [ Well, we
all know that judge walker is alledgedly a homo, so the question here is
whether judge phillips is a lesbian… just kidding! Not to slight homosexuals
but to emphasize judicial bias / corruption which is pervasive in america and
I’ve observed, experienced, and have been substantially damaged by pervasive
and systemic corruption in the american judicial process which has become more
blatant and which justifies the abolition of these costly, corrupt lifetime
appointment / bureaucracies. The fact is that ‘don’t ask, don’t tell’ is the
policy throughout the pervasively corrupt federal system which is indeed as
illegal as it is unconstitutional!
( http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
). ]
(Previously) I’d say this
alito vs. wobama is a tempest in a teapot inasmuch as alito is more than just a
lightweight, hack, liar, fraud etc., as set forth in the comments. alito is a
criminal who should have served / should be serving time in prison for
obstruction of justice, bribery, among other RICO violations. To alito, drug
money is as green as corporate money and worth his vote as well. In addition to
being an inept [I looked in on the one mob case he had brought, bungled, lost
(accidently on purpose?) since I was suing some mob-connected under RICO and
the court (I had known / previously met outside of court the judge Ackerman
through a client) was absolute bedlam and a total joke since incompetent
corrupt alito brought in all 20 mob defendants (rather than prosecute one or a
few to flip them first) who feigning illness had beds/cots in the courtroom
along with their moans during testimony and had the jury in stitches)] and
corrupt (see below and particularly the summary provided to the FBI under
penalty of perjury [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
] ) u.s. attorney.
You’re naïve to think that
the so-called supreme court is any different from the rest of the meaningfully
lawless and pervasively corrupt american ‘system’. I knew well an accomplished
trial lawyer, fellow american college of trial lawyers / and a bar examiner,
who pondered from time to time becoming a judge “so he’d never have to work
again” – his words.
Some comments on
alito…all appropriate:
Probably the worst appointment in one hundred years.
Posted by: mnjam
-----------------------
Really? That's a pretty sweeping statement to make
about someone who's only been on the court a short few years.
And I thought that liberals were in universal
agreement that Clarence Thomas was the worst appointment in all of history?
Posted by: blert | January 28, 2010 2:11 AM | Report
abuse
----------------------------
Yes. Really. Alito is a total lightweight and hack. He makes Thomas look like
John Marshall or Oliver Wendell Holmes. I KNOW ALITO.
Posted by: mnjam | January 28, 2010 2:24 AM |
the loser here is alito.lost his composure not good for a judge especially
afederal or supreme justice .loser big time this will live with guy for a very
time.roberts and the other justices will have a talk with him that is a
given.this relly larger than o one day news cycle.
Posted by: donaldtucker | January 28, 2010 1:12 AM |
Should Alito resign or be impeached?
Posted by: jdmca | January 28, 2010 1:05 AM |
I
include the first two comments to the foregoing headline:
Billo Says:
June 11th, 2010 at 6:15
am
Lunacy? Keep in mind
that this country is run and controlled by lunatics. Our press government and
military seem to take their orders from Israel. Isarel wants to be known as a
pack of “mad dogs. Do we want “mad dogs” controlling us?
Here we see
a bunch of phony accusations against Iran just like we did in the run up to the
bogus wars in Iraq, Afghanistan and now Pakistan. The boy has cried wold ten
thousand times. It’s time to identify the “lunatics” and kindly take away the
car keys. If you won’t let your friends drive drunk, why do we let a bunch of
“lunatic” enemies run this place.
Glen Reply:
June 11th, 2010 at 6:47
am
Lunacy it would be.
But it is also to their
great credit that the Iranians have not made their own threats.
Everyone knows there are
3 WMD threats, Nuclear Biological and chemical. The scariest of which is
Biological.
Any attack done under
the threat of immediate biological retaliation would deter only the insane.
Watch out america home
of the insane, home of the leaders who want an 80% population reduction.
Paul
Craig Roberts: Government Abandoned Vietnam POWs Kurt Nimmo | John McCain worked
overtime to make sure Vietnam POWs never came home. I think the even bigger
story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm
‘Did you know that that so-called "american heroe" john mccain was
referred to by his fellow pows in Vietnam as something akin to the
"songbird" inasmuch as he was constantly "singing" to his
Viet-Cong captors to curry favor and better treatment? This has been documented
with authority by Colonel David Hackworth. The same violates military
code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm
] But, you see, this covered up scenario, compromizing the false facade
of far less than a heroe, is exactly what a criminal (lie of a) nation as
america loves and encourages (get everyone's hands dirty so no-one dares to
rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the
(corrupt, propagandized) line", become a criminal, or be exposed,
prosecuted, and/or ruined; and, hasn't anyone asked how "wall street"
has been "spared the spotlight" (and even was accorded protective
legislation from their criminal culpability) and focus of inquiry, attention,
and prosecution despite being the primary beneficiaries financial and otherwise
of these scams (you know the wall street motto, "churn and earn";
huge conflicts of interest if not outright fraud)…’
Coalition wants UK space lift-off [ Don’t make me laugh! ]
Israel’s
Nukes Out of the Shadows Israel faces unprecedented pressure to
abandon its official policy of “ambiguity” on its possession of nuclear weapons
as the international community meets at the United Nations in New York this
week to consider banning such arsenals from the Middle East.
NASA wants mission to bring Martian rocks to Earth (AP) Why?
They already have that and more:
Launch
of secret US space ship masks even more secret launch of new weapon
http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv
[To the
Professor at the beginning of the course]
10-5-09
Postscript: Professor *****,
I felt compelled to thank you again for the add; not to curry your favor but
indeed to express profound thanks inasmuch as this is probably the last formal
course at a formal educational institution I'll ever take; and among the most
important. While I had bought at discount a library-discarded 1993 Anthropology
by Embers text, though meaning to read same never quite got to it. I am
astounded by the substantial amount of time involved in the evolutionary
process, not that I ever stopped to think about it, and one must come away with
the sense of 'and all that...for this?'. This course should be required
curriculum along with psychology, sociology, etc., but probably won't be owing
to what is, as it should be, a very humbling educational experience for any member
of the human race.
Regards,
Al Peia
Go to following pages for above links:
http://www.albertpeia.com/currentopics2ndqtr10108.htm
http://www.albertpeia.com
http://www.albertpeia.com/alresume.htm
http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
Drudgereport:
KRUGMAN:
'We are now, I fear, in the early stages of a third depression'...
STOCKS HIT LOWEST OF YEAR...
DEBT
SOARS TO HIGHEST LEVEL SINCE WWII...
PRIVATE SECTOR SEES WEAKER JUNE JOBS...
Sputtering...
Bilderberg
2010: Between the sword and the wall...
Protesters
'being detained, searched, questioned'...
Final
List of Participants...
Stephen Hawking: Aliens exist but don't talk to them --
it's too dangerous … might not like us… Oh pshaw! … Human nature, man’s
inhumanity to man? … Such humble beginnings and evolutionary history …
What’s not to like? … Besides, not to worry. With their advanced
technologies that defy human understanding, the aliens already know you’re here
… to stay. So, not to worry. After all, as we know from that documentary of
that same name, ‘Earth Girls Are Easy’ … and then there’s photosynthesis on
earth in a very big way also going for it! ...
Seeing
Aliens Will Likely Take Centuries. Centuries? Not goin’ to happen; at best,
decades.