1-31-12 POSTS 

 

[To today’s News / Topics]

 

House prices hit post-bubble lowWhen it comes to the value of what many Americans consider their biggest financial asset, the future looks grim. Data released Tuesday show that the housing bust appears to be even worse than it was at the nadir of the recession, and the trend is down.  (Washington Post) [ And there’s worse to come! Gary Shilling lays out his 20 investment themes for 2012.Theme #12 calls for home prices to continue plummeting, falling another 20% over the next several years.  This is on top of the 33% drop we've already seen. . ( 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 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  [ 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,  This is No Cyclical Recession It is a Secular DE-pression 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 Todays Levels Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012). , Goldman Turns Bearish: Squid Releases Top Trades For 2012... And It's Not Pretty 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: Europe. If the history of debt tells us anything it is that one cannot solve a debt crisis by lending more money to the bankrupt and the insolvent, Zimmerman says. , As it stands, the dollar is toast Laura4Smith Euro Pacific Capital's John Browne thinks the U.S. dollar will soon lose credibility, thanks to manipulation by the Fed. , Persistent delevering will cause the whole world to implode Bloomberg TV Bill Gross kicked 2012 with a particularly gloomy letter. , Home prices will fall another 20% Bloomberg In his latest note, Gary Shilling lays out his 20 investment themes for 2012.Theme #12 calls for home prices to continue plummeting, falling another 20% over the next several years.  This is on top of the 33% drop we've already seen. , Greece will hard default and bring everyone else down with it Nomura's permabear Bob Janjuah had some cheery things to say about Greece and it's effect on the markets."The real pain may only be seen in March, when I expect the hard Greece default to happen. In Q1 I expect the S&P will trade down to/below 1000, and core US, UK and German government Bond yields will be closer to 1.5% than 2%." , China is headed for a hardlanding SocGen's Albert Edwards thinks 2013 will be better than 2012.  But that's only because he believes 2012 could be the worst year ever. , The US economy is about to tank ECRI's Lakshman Achutan hasn't budged on his recession call, and he has been taking a lot of heat for it. Here's a quote from a recent press release (via Doug Short): "If you think this is a bad economy, you havent seen anything yet. And that has profound implications for both Main Street and Wall Street.", Graham Summers Weekly Market Forecast (Has the Can Hit the Wall? Edition)  http://gainspainscapital.com  January 17th, 2012  As usual, bad news was released over the weekend when the least number of people are paying attention The answer is a Crisis that will make 2008 look like a picnic.This is coming its only a matter of when…’  17 Facts About The Decline Of The U.S. Auto Industry That Are Almost Too Crazy To Believe http://theeconomiccollapseblog.com  http://albertpeia.com/declineusautoindustry.htm   ( Warning Signs That We Should Prepare For The Worst   http://albertpeia.com/prepareforworst.htm ) Very few things illustrate how dramatically America has been deindustrialized than the stunning decline of the U.S. auto industry. ,  RealClearMarkets - Gary Shilling: New Global Recession Is Here (Its 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 NEW YORK (MarketWatch) For most economists, the main question is whether we will have a new recession. For Gary Shilling, the only question is how big. ,  20 Signs That Europe Is Plunging Into A Full-Blown Economic Depression  The American Dream | An economic nightmare is descending on Europe. http://albertpeia.com/20signsofeuropedepression.htm  ,  Guest Post: Counterfeit Money, Counterfeit PolicyCounterfeiting is illegal because it is the false creation of value. The counterfeiter takes low-value paper and turns it into high-value money, which is fundamentally a claim on the real productive value of the economy that issues the currency and recognizes it as a proxy means of exchanging that productive value. Counterfeiting is illegal because the counterfeiter creates no additional value--he creates only the proxy for value. Creating real value--adding meaningful goods or services to the economy--is tedious, hard work. How much easier to simply transform near-worthless paper into a claim on actual goods and services.  If this is illegal, then would somebody please arrest the Board of the Federal Reserve for counterfeiting? The Fed has blatantly printed money without creating any real value to back up their added claims on productive value. Hence they are counterfeiting, pure and simple. A government based on rule of law would arrest these fraudsters and cons at the earliest possible convenience. , Survey: home prices declined in 19 of 20 cities in November; prices back to 2003 levels Jan 31st, 2012 (AP)  , Dead Market Exhibit A: January VolumeGold, Silver Winning 2012 Asset Return Race With 11 Months LeftChicago ISM sank to 60.2 in Jan, well below market expectations of 63.0, vs 62.2 in Dec. Jan 31st, 2012 Amazon Slides After Missing Revenues Expectations, Guides Much LowerCalifornia To Run Out Of Cash In One Month, Controller WarnsGreece Calls Crisis Meeting As Debt Talks StallEuro Zone Jobless Hits Highest Level Since Birth of Euro Jan 31st, 2012 (CNBC) Labor Unions Demand Escalation Of Trade War With China, Ask Obama To Restrict Chinese Auto Part ImportsGreece Releases New Proposal With Even Greater Losses To Creditors Durden , Prophetic Economist Warns, Its Curtains for the US. Prepare. (Moneynews) Katrina Turner , STOCKS GO NOWHERE ON MORE DISAPPOINTING DATA: Here's What You Need To Know Business Insider , US S&P Case-Shiller home prices -0.7% in Nov for 20-cities index, -3.67% y/y, weaker than market expectations. Jan 31st, 2012 , SPX Update: Bears Fire a Shot Across the Bow  By Jason Haver Jan 31, 2012 , 47 Signs That China Is Absolutely Destroying America On The Global Economic Stage  http://theeconomiccollapseblog.com  http://albertpeia.com/47signschinadestroyingamericaoneconomicstage.htm  ,   Senators: Get Rid of Dollar Bills The Wall Street Journal [ Given the dollar debasement policies, theyre kind of like those nuisance pennies, and, as fiat paper currency, dont even have the value of copper to fall back on. ] , Exxon Leads DJIA Losers On Tepid DayWall St. Cheat Sheet [ Increased costs the reason, the flip side of that debased dollar manipulation thats artificially propped earnings, particularly for those multi-nationals. ]  ,    Investors: There's Increased Probability of a Correction  Minyanville Chris Vermeulen Jan 30, 2012 Eventually equities will start to underperform. At that point, gold will be in the final stages of its bubble, and the term "parabolic" could likely be applied. Read more: http://www.minyanville.com/businessmarkets/articles/gold-prices-price-of-gold-federal/1/30/2012/id/39109#ixzz1kzPLaKZl , Daves Daily: http://www.etfdigest.com  BULLS KEEP JANUARY ASCENT INTACT January 30, 2012   Eurozone news took markets lower early as Portugals bond yields rose sharply and there still is no accord on Greek debt with private lenders. News from the eurozone remains .. natural to suspect some end-of-month window dressing. U.S. stocks began to rally off triple digit DJIA lows led primarily by technology after Europe closed (funny how that happens). Burlington Northern stated the economy was growing slowly and they were adding employees and railroad cars to meet perceived demand. This helped stimulate stocks overall even though it was little help to the transport sector (IYT) which closed the day down .43%In housing market news was this eye-opening story that Freddie Mac was betting big time against its own customers. Or, as the story headline goes, When Homeowners Lose, Freddie Mac Wins. Betting against your own customers isnt anything new on Wall Street, something begun by then Goldman Sachs CEO Robert Rubin in the 90s. But for the government to do so states the obvious conflict. Also in the news was the government has increased loss projections for the auto bailout to $27 billion... http://i238.photobucket.com/albums/ff171/flyfry/new%20album/image004-114.jpg  .. These stories hardly seem bullish..consumer spending was lower…’ , Conflicting Signals? Four Questions Facing The Market Forbes Charles Biderman, Contributor  [ Mr. Biderman provides an astute backdrop to the ongoing debacle, but fails to properly access and attribute the fact/reality that in many ways fraudulent wall street is the government as weve lamentably seen in the form of paulsen, rubin, geithner, bernanke, goldman saches, etc., and certainly when it counted for wall street at everyone elses expense; and, the absence of high level prosecutions further testament to that factual reality. See here as well: Nothing Has Changed, But Bulls Are Becoming More Bullish    Forbes Charles Biderman, Contributor http://www.forbes.com/sites/investor/2012/01/23/nothing-has-changed-but-bulls-are-becoming-more-bullish/?partner=yahootix  This article is an incisive yet brief look at the source of funds for the upside biased stock manipulation and an important read from Forbes / Biderman   ]  Again and again I have to keep reminding myself that most portfolio managers, as well as individual investors, firmly believe that not only can the U.S. economy grow its way out of its current mess, but that the U.S. economy has already begun that process.The fact that the Fed continues to create $100 billion of new money each month to support the economy is not as important to them as is the cumulative 60% growth in the federal deficit since 2008. Also irrelevant is that take home pay net of inflation is and has been declining on a year over year basis for the past several months…’ , REGARDING SOCIAL PROGRAMS AND GOVERNMENT OUTLAYS: THE MONEY SIMPLY ISNT THERE January 30th, 2012 http://gainspainscapital.com , Fannie Mae, Freddie Mac Shown as Mortgage Market Predators : rcwhalen : 01/30/2012 This morning, NPR and ProPublica, began reporting on financial transactions at Freddie Mac that bet against homeowner refinancing with their portfolio. , The Market Could Soon Bottom (And Nobody Knows It)  Minyanville David Banister Jan 30, 2012 , The Baltic Dry Meltdown Continues The Wall Street Journal , Making Money On Poverty: JP Morgan Makes Bigger Profits When The Number Of Americans On Food Stamps Goes Up http://theeconomiccollapseblog.com  http://albertpeia.com/makingmoneyonpoverty.htm , Guest Post: The Price of Growth Are we better off if a near-term recovery comes at the expense of our future security? The prudent among us would disagree. , Long-Dated VIX Still Priced For Depression RiskSan Francisco Fed Admits Bernanke Powerless To Fix Unemployment Problem Europe Has Worst Day In Six Weeks Zero HedgeIt's Official: German Economy Minister Demands Surrender Of Greek Budget Policy, Says It Is First Of Many Such Sovereign "Requests"Greece Politely Declines German Annexation Demands  , Daves Daily: http://www.etfdigest.com 1-26-12  ‘…phony CPI because authorities want you to pretend you neither use heating oil, gasoline or even food for that matter. Theyve reconfigured the CPI more times than congress votes on a new debt ceiling. And, they do this to deceive but also to lower entitlement spending. Imagine all those government workers on COLAs and Social Security recipients who just stare at their heating and electric bills in disbelief. Whats a nice T-bone cost nowadays anyway? Its the dropping price of tech toys and quality improvements they focus on that matters now. Economic data was mostly disappointing versus estimates. Jobless Claims were up more than expected (377K vs 370 exp. & prior revised higher as usual to 356K); Durable Goods Orders also missed (+.3% vs +2.2% exp. & prior 4.3%); Leading Indicators missed (+.4% vs +.7% exp. & prior +.5%); and, New Home Sales also disappointed (307K vs 320K exp. & prior 314K prior)…’ , INVESTORS, SKIP THE 'JANUARY INDICATOR' FOR STOCKS Jan. 26, 2012 http://www.marketwatch.com/video/asset/investors-skip-the-january-indicator-for-stocks-2012-01-26/D6D6B044-07E7-455A-A669-F97B87EE8452#!D6D6B044-07E7-455A-A669-F97B87EE8452 What's known as the "January indicator" says a positive month often yields gains for the year. But the indicator isn't what it's cracked up tobe,according to Market Watch's MarkHulbert , IfTheEconomyIsImproving(Not!)...  http://albertpeia.com/economynotimproving.htm  ,  Market Preview: The Fed's Stealth Bailout of Europe TheStreet , I Present To You The First Probable US Commercial Real Estate Insolvency Of Many To Come Middleton : 01/26/2012 GGP part deux, as the hopium high sold by US regulators that allowed banks and borrowers to pretend bad loans were good wears off and reality sets in.. , Daves Daily: http://www.etfdigest.com 1-27-12 GDP DATA CONFIRMS SLOW GROWTH  GDP data was released Friday revealing headline economic growth of 2.8% versus consensus of 3.1%. Real economic growth after inflation was only 1.7% for 2011. Negatively affecting the data were lower state and local government spending, private inventory investment and, believe it or not, federal government spending. While the all-important, and much watched by the Fed, PCE (Personal Consumption Expenditures) was higher it was a disappointment overall. This may reflect what the Fed saw in the data (weak growth) which then caused them to keep interest rates low for a long period. They must worry this slow growth condition is going to be with us for a long time. This is hardly encouraging.The month of January has only a couple of trading days left. Even with Fridays poor performance the month is still scoring outsized gains for most stock sectors. Consumer Sentiment data has stock prices as a high component, so its not surprising the measure was 75 versus 74 expected , Largest Central Banks Now Hold Over 15 Trillion in Fictitious Capital : ilene : 01/27/2012 , The Silent Anschluss: Germany Formally Requests That Greece Hand Over Its Fiscal IndependenceEndgame Begins - UK "Foreign Office Sources Say Merkel Now Thinks Greece Will Default"Friday Tragedy: The US Debt Limit ExplainedFitch Gives Europe Not So High Five, Downgrades 5 Countries... But Not France Naturally no downgrade of France. French Fitch won't downgrade France. , 16 Statistics Which Show That The Number Of Americans Dependent On The Government Is At An All-Time High   http://theeconomiccollapseblog.com   http://albertpeia.com/16statsamericansdependentongov.htm   ,  Largest Central Banks Now Hold Over 15 Trillion in Fictitious Capital : ilene : 01/27/2012 A strong yen strikes again. , Fed Won't Admit it - But QE3 is Already in Force ETFguide  Simon Maierhofer  ..True, there is no QE3 (yet) in the form of QE1 or QE2. QE stands for quantitative easing and quantitative easing happens when a central bank buys financial assets to inject money into the economy. Even though it's not called QE3, the Fed is right now making billions of dollars available to buy financial instruments. We're not talking about Operation Twist here; we're talking about a covert operation that's essentially a U.S. bailout of Europe.. the S&P has reached (and exceeded) the initial up side target and is starting to create a sell signal similar to the May 2011 top.. , Greenspan's Successor Pushing On A String Forbes , ECONOMY DISAPPOINTS, EUROPE GETS DOWNGRADED, MARKETS GO NOWHERE: Here's What You Need To KnowBusiness Insider , All Central Bank Balance Sheets Are Exploding Higher, Or Engaged In QE Jan 27th, 2012 (The Big Picture) The degree to which central banks around the world are printing money is unprecedented …’ Economists React: GDP 'Less Impressive Than It Looks'at The Wall Street Journal , Euro Zone Money Supply Offers Grim Newsat The Wall Street Journal , Q4 GDP Misses Estimates, Inventory Stockpiling Accounts For 1.9% Of 2.8% Q4 US Economic Growth The US economy grew at a 2.8% annualized pace in the supposedly blistering fourth quarter, yet the number was a disappointment not only in that it missed estimates of 3.0% (and far higher whisper numbers) but when one looks at the components, where a whopping 1.94% of the upside was attributable to a rise in inventories as restocking took place. And as everyone knows in this day and age a spike in inventories only leads to sub-cost dumping a few months later. In other words, the economy grew at a 0.8% pace ex inventories. Yet for all intents and purposes, this is considered "growth." , Frontrunning: January 27 Durden on 01/27/2012 · Greek Debt Wrangle May Pull Default Trigger (Bloomberg) · Italy Sells Maximum EU11 Billion of Bills (Bloomberg) · Romney Demands Gingrich Apology on Immigration (Bloomberg) · Chinas Residential Prices Need to Decline 30%, Lawmaker Says (Bloomberg) · EU Red-Flags 'Volcker' (WSJ) · EU Official Sees Bailout-Fund Boost (WSJ) · EU Delays Bank Bond Writedown Plans Until Fiscal Crisis Abates (Bloomberg) · Germany Poised to Woo U.K. With Transaction Tax Alternative (Bloomberg) · Ahmadinejad: Iran Ready to Renew Nuclear Talks (Bloomberg) · Monti Takes On Italian Bureaucracy in Latest Policy Push to Revamp Economy (Bloomberg) ,  Juncker Breaks Away From Propaganda Pack, Says Euro Default Will Lead To ContagionRoubini's Bearish Forecast Is Bullish For GoldHe said, Rising commodity prices, uncertainty in the Middle East, the spreading European debt crisis, increased frequency of extreme weather events and U.S. fiscal issues are persistent problems that will continue to spur market volatility and sway asset prices in the global economy. This is great news for gold. Goldman Sachs noted in a report on Jan. 13th that futures will advance to $1,940 an ounce in 12 months.  Morgan Stanley forecasts the yellow metal will climb to a record of $2,175 by 2013, said analysts Peter Richardson and Joel Crane in their research report. , IceCap Asset Management: No Country For Old MenMost Canadian pension funds are banking on 7% annual returns forever. Over the next few years, this unrealistic expectation will cost the respective governments and companies millions in shortfalls. In the USA, the California Public Employees Retirement System assumes it will earn over 7.75% annual returns. This false hope will result in over $6 billion a year in lower than expected investment income, that will also have to be paid by the financially challenged state (ie. taxpayers). , Stephen Roach Explains How The Fed Is Pulling The Wool Over Our Eyes   ,  The Fed Cannot Move Without a Crisis And One is Coming  http://gainspainscapital.com    January 26th, 2012 Well the Fed disappointed as I stated it would. How anyone could be surprised by this is beyond me. The Fed was admitting that the consequences of QE rendered it less attractive as an option as far back as May 2011.Moreover, the last six months have shown the Fed to be relying heavily on verbal intervention rather than direct monetary intervention. Every FOMC meeting (and any time the market takes a dive) some Fed official steps forward and promises that the Fed stands ready to help if needed.The reasons for this are three fold: #1)  Why bother with monetary intervention when you can get the same effect from verbal intervention? #2)  The Fed is too politically toxic now to simply unveil a massive new monetary scheme without a Crisis hitting first. #3)  The Fed is well aware of the consequences of QE (higher food and gas prices) and while it focuses on CPI as the measure of inflation, the political pressure engendered by higher costs of living are certainly on the Feds radar. In plain terms, the bar for more QE is set much, much higher than the vast majority of analysts realize. The reason is that the Fed can no longer simply prime up the printing presses if the economy takes a dip.  , Median Single Family Home Price in Terms of Gold Jan 27th, 2012 (Chart of the Day) Severely depressed real estate prices continue to be a concern for investors. For some perspective on the magnitude of the decline in home prices, todays chart presents the median single-family home price divided by the price of one ounce of gold. This results in the home / gold ratio or the cost of the median single-family home in ounces of gold. For example, it currently takes a relatively low 105 ounces of gold to buy the median single-family home. This is dramatically less than the 601 ounces it took back in 2001. When priced in gold, the median single-family home is down over 80% from its 2001 peak, remains well within the confines of a six-year accelerated downtrend and remains very near its 1980 trough. http://albertpeia.com/housegold.gif  ,  The Man Without A Plan  http://theeconomiccollapseblog.com http://albertpeia.com/omanwithoutaplan.htm  Barack Obama is a man without a plan.  , Newt Gingrich promises to build a moon colony by 2020; make it a U.S. state [ Wow! Absolute proof that the slimy newts not dealing with a full deck. Say anything? This takes the cake! The idea man? Sure, all he needs is Aladdins lamp and infinite capital! Oh yeah, reality nothwithstanding, nasa boondoggles sell well in Cape Canaveral, Florida (and Houston, Texas). Note, he couldnt just go to the moon for the first time (that fake video with the flag waving in the moons windy atmosphere yet another example as on fraudulent wall street of that pervasively addictive hopium) Americas debt woe is worse than Greeces News (CNN) Our government is utterly broke. There are signs everywhere one looksThe governments total indebtedness is $211 trillion . How pathetic and desperate, that slimy newt! ] ,   Why These Dow Losers Fell Motley Fool (Thu, Jan 26)[ Yes indeed, that horrifying jersey/bush-texas att, a big iphone subsidizer, showed a substantial loss.  Microsoft's Windows battles slack PC sales / profits fall As regards the state of technology generally, and American particularly, Im even far less sanguine than Peter Thiel who feels technology generally, is wanting. I also believe as he the iphone to be vastly overrated, underwhelming and beat beyond the now ubiquitous touch screen, though more euphemistically said by Thiel (I am glad however that apple, my first computer Apple IIC 1986 has survived). I also believe american technology beyond the hype to be horrendous. The internet has been the biggest thing in terms of technological advance, and we all see what some cro-magnuns (at best) in washington are trying to do to that. See also, http://albertpeia.com/declineusautoindustry.htm   ]  ,  Daves Daily: http://www.etfdigest.com   GEITHNER & BERNANKE WANT TO PUMP YOU UP January 25, 2012 [ Dave is spot-on and really gets it right! Except, this is actually worse than a Ponzi scheme inasmuch as they are printing and debasing the ever more worthless fiat paper Weimar dollar currency for which there is no free lunch. Once again youre paying for the frauds (including the churn-and-earn high frequency computerized trades) on wall street by the higher prices you pay as a direct consequence. This is a despicable, doomed to failure as previously despite obfuscation, government sponsored/sanctioned fraud. ]  Geithner suggests the economy is getting stronger. Bernanke says the economic recovery is fragile. He elects to print more money to reinvest maturing Treasury bonds into more mortgage-backed securities. These securities will then mature and the Treasury indirectly will have to redeem them. This is a Ponzi-Scheme. And, while the Fed prints money, Bernanke states the U.S. should be reducing our fiscal debt. (He didnt even blush.) Basically what he and his comrades want are higher prices for stocks and everything we buy in order to avoid the Japanese experience of deflation. , Notable ETF Outflow Detected - DIA, CAT, UTX, BA Forbes , Obama and Bernanke: Cooking Up Another Market Bubble?  { Indeed they are one that will burst with 99.999% certainty! }  Forbes  James Marshall Crotty , Market Preview: A Huge Mistake  Michael Baron [ Huge mistake indeed! Inflation, vastly understated, including inflated stock prices the misguided goal of such bad economics as weve previously and are once again witnessing, is already surging and will get much Weimar worse! ]  ,  IMF TO GERMANY: EUROPE IS ON COURSE FOR DISASTER http://regator.com/p/254695398/imf_to_germany_europe_is_on_course_for , Market Now Pricing In $770 Billion Increase In Fed Balance SheetAnd The Winner Is...GoldYear-to-date, Gold is up an impressive 9.4%, significantly outpacing the S&P 500 at +5.6% and the disappointing 2% loss (in price) for the 30Y bond., T-Minus 11 Months Until Geithner ResignationEasily the best news of the day:GEITHNER SAYS OBAMA WOULDN'T ASK HIM TO STAY FOR A SECOND TERM , "Tying It All Together" with David RosenbergOur discussions (here, here, and here) of the dispersion of deleveraging efforts across developed nations, from the McKinsey report last week, raised a number of questions on the timeliness of the deflationary deleveraging process. David Rosenberg, of Gluskin Sheff, notes that the multi-decade debt boom will take years to mean revert and agrees with our views that we are still in the early stages of the global deleveraging cycle. , Bill Gross' Explains The FOMC Decision: "QE 2.5 Today, QE 3, 4, 5 Lie Ahead"Fed Slashes Growth Outlook, Six Fed Officials Do Not See Rate Hike Until 2015This is just getting better and better: *FOMC: 2012 GROWTH AT 2.2%-2.7% VS 2.5%-2.9% IN NOV. FORECAST *ELEVEN OF 17 FED OFFICIALS SEE MAIN RATE ABOVE 0.25% IN 2014 *SIX OF 17 FED OFFICIALS SEE NO RATE INCREASE BEFORE 2015 *FOMC DOESN'T SET SPECIFIC LONG-RUN GOAL FOR EMPLOYMENT LEVEL Japan is now seriously blushing. As for the reality of the Fed's forecasts, they are absolutely worthless, so no point in even spending one minute on them. , Contrary to Widespread Claims, There Is NO EVIDENCE that Iran Is Building a Nuclear Weapon : George Washington : 01/25/2012 Even American military and intelligence chiefs admit this ... , FOMC adopts 2% inflation target Jan 25th, 2012 (FRB) [ Yeah, right! By printing more fiat paper currency. Inflations well in excess of 11% and going higher. ,  Fed set to push back timing of eventual rate hike Jan 25th, 2012 (Reuters) , Portugal Debt Insurance Costs Hit Record As Yields Rise Jan 25th, 2012 (Dow Jones) , Portugal needs more bailout funds Jan 25th, 2012 (BusinessReport) , U.S. treasury raids federal employee pension funds to cover debts J. D. Heyes | Treasury stealing cash from federal employees pension funds so the government can obtain more credit to pay its debts. , Commercial Property Bubble: Anxiety Mounts Over 2012 Maturing Loans New York Times | Billions in commercial real estate loans made during boom year 2007 are coming due this year , The Demise of State Sovereignty: Pressures on the Euro Amidst Rising Debt Levels Bob Chapman | We announced our belief a few weeks ago that the Fed loan to the ECB could with fractional banking be $10 trillion. , 24 Facts That Show How Ridiculously Unfair Our Economy Is For Americans Under The Age Of 30 The American Dream | If you are an American under the age of 30, you have probably figured out by now that the entire economic system is stacked against you. , Goldman Stolpers Clients Again, This Time With Short Bond CallGoldman does it again. Whereas the exploits of one Tom Stolper are well known, and frankly much expected by the general community due to his infallible advice and 100% inverse track record, we did not realize just how pervasive his M.O. was within the broader firm. Now we do. As a reminder, on Monday Goldman came out with a recommendation to sell the 10 Year. "We are now of the view that a break to the upside, to 2.25-2.50%, is likely and recommend going tactically short. Using Mar-12 futures contracts, which closed on Friday at 130-08, we would aim for a target of 126-00 and stops on a close above 132-00."" This naturally generated a healthy dose of skepticism by Zero Hedge: " As a reminder, don't do what Goldman says, do what it does, especially when one looks the firm's Top 6 trades for 2012, of which 5 are losing money, and 2 have been stopped out less than a month into the year." Sure enough, anyone who did the opposite, i.e. buying the 10 year, has now returned +1.48% in three days. ,  Sorry Folks, Europe Is Not Fine Not Even Close  http://gainspainscapital.com January 24th, 2012 The financial world seems to have adopted the idea that things will somehow work themselves out in Europe. I dont know if its because people dont like to think about negative things or if someone sent out a memo to everyone that math doesnt exist or count in Europe, but somehow investors seem to have decided that as long as we think positive thoughts everything will be fine. The reality is that every day, Europe is approaching a debt implosion.

 

 

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Jan. is best start for stocks since 1997 The Dow Jones industrial average and the Standard & Poors 500 each finished with their biggest January gains in 15 years. (Washington Post) { Oooooh … the superstitious ‘january effect’ … how mysterious, they really got ya’ goin’, dem schrewd wall streeters, knowing how superstitious americans et als are when it comes to rational financial and economic decision-making. Gotcha … say those sharpies on wall street! … Well, hopefully not. After all, it’s certainly not news to anyone that the frauds on wall street spend their waking hours trying to get in between and separate you and your money, and this is a great ‘come-on’ but unfortunately as with most wall street pitches does not pass muster  [ 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 et als should be criminally prosecuted, jailed, fined, and disgorgement imposed!  Train Reading: The Stock Market Is (Criminally) Insane The Wall Street Journal  , [ STOCKS RALLY DESPITE BAD NEWS: Here's What You Need To Know Business Insider , http://albertpeia.com/22signsglobalrecessiondepression.htm  ] Suckers rally into the close substantially off lows. Much like the floating on air stock price scenario that preceded the dot.com and most recent, continuing debacles, 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, infra), bad news, fraud, b***s***, and desperation alone, as suckers rallies ushered in the new year in a most preposterous fashion ; 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! Dont be their fool! Mohammed El Erian gets this and to Frank Motek 1070am relates that hes using the up moves to reduce risk assets / stocks / exposure, in other words, hes selling the rallies which is sound advice. The fundamentals/realities, current and prospective, are worse than ever. There are no systems/formulas for these unprecedentedly dire times. Dont be their sucker! This is an especially great opportunity to sell / take profits because theres much, much worse to come! Heres a simple chart of the Dows history  http://albertpeia.com/dowjonesindavghistory.htm  . Keep in mind how lowly the dollars become in terms of purchasing power and relative to metals as ie., gold, etc.. Dont 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 theres 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, 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.. 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,  This is No Cyclical Recession It is a Secular DE-pression 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 Todays Levels Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012). , Goldman Turns Bearish: Squid Releases Top Trades For 2012... And It's Not Pretty 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: Europe. If the history of debt tells us anything it is that one cannot solve a debt crisis by lending more money to the bankrupt and the insolvent, Zimmerman says. , As it stands, the dollar is toast Laura4Smith Euro Pacific Capital's John Browne thinks the U.S. dollar will soon lose credibility, thanks to manipulation by the Fed. , Persistent delevering will cause the whole world to implode Bloomberg TV Bill Gross kicked 2012 with a particularly gloomy letter. , Home prices will fall another 20% Bloomberg In his latest note, Gary Shilling lays out his 20 investment themes for 2012.Theme #12 calls for home prices to continue plummeting, falling another 20% over the next several years.  This is on top of the 33% drop we've already seen. , Greece will hard default and bring everyone else down with it Nomura's permabear Bob Janjuah had some cheery things to say about Greece and it's effect on the markets."The real pain may only be seen in March, when I expect the hard Greece default to happen. In Q1 I expect the S&P will trade down to/below 1000, and core US, UK and German government Bond yields will be closer to 1.5% than 2%." , China is headed for a hardlanding SocGen's Albert Edwards thinks 2013 will be better than 2012.  But that's only because he believes 2012 could be the worst year ever. , The US economy is about to tank ECRI's Lakshman Achutan hasn't budged on his recession call, and he has been taking a lot of heat for it. Here's a quote from a recent press release (via Doug Short): "If you think this is a bad economy, you havent seen anything yet. And that has profound implications for both Main Street and Wall Street.", Graham Summers Weekly Market Forecast (Has the Can Hit the Wall? Edition)  http://gainspainscapital.com  January 17th, 2012  As usual, bad news was released over the weekend when the least number of people are paying attention The answer is a Crisis that will make 2008 look like a picnic.This is coming its only a matter of when…’  17 Facts About The Decline Of The U.S. Auto Industry That Are Almost Too Crazy To Believe http://theeconomiccollapseblog.com  http://albertpeia.com/declineusautoindustry.htm   ( Warning Signs That We Should Prepare For The Worst   http://albertpeia.com/prepareforworst.htm ) Very few things illustrate how dramatically America has been deindustrialized than the stunning decline of the U.S. auto industry. ,  RealClearMarkets - Gary Shilling: New Global Recession Is Here (Its 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 NEW YORK (MarketWatch) For most economists, the main question is whether we will have a new recession. For Gary Shilling, the only question is how big. ,  20 Signs That Europe Is Plunging Into A Full-Blown Economic Depression  The American Dream | An economic nightmare is descending on Europe. http://albertpeia.com/20signsofeuropedepression.htm  ,  Guest Post: Counterfeit Money, Counterfeit PolicyCounterfeiting is illegal because it is the false creation of value. The counterfeiter takes low-value paper and turns it into high-value money, which is fundamentally a claim on the real productive value of the economy that issues the currency and recognizes it as a proxy means of exchanging that productive value. Counterfeiting is illegal because the counterfeiter creates no additional value--he creates only the proxy for value. Creating real value--adding meaningful goods or services to the economy--is tedious, hard work. How much easier to simply transform near-worthless paper into a claim on actual goods and services.  If this is illegal, then would somebody please arrest the Board of the Federal Reserve for counterfeiting? The Fed has blatantly printed money without creating any real value to back up their added claims on productive value. Hence they are counterfeiting, pure and simple. A government based on rule of law would arrest these fraudsters and cons at the earliest possible convenience. , Survey: home prices declined in 19 of 20 cities in November; prices back to 2003 levels Jan 31st, 2012 (AP)  , Dead Market Exhibit A: January VolumeGold, Silver Winning 2012 Asset Return Race With 11 Months LeftChicago ISM sank to 60.2 in Jan, well below market expectations of 63.0, vs 62.2 in Dec. Jan 31st, 2012 Amazon Slides After Missing Revenues Expectations, Guides Much LowerCalifornia To Run Out Of Cash In One Month, Controller WarnsGreece Calls Crisis Meeting As Debt Talks StallEuro Zone Jobless Hits Highest Level Since Birth of Euro Jan 31st, 2012 (CNBC) Labor Unions Demand Escalation Of Trade War With China, Ask Obama To Restrict Chinese Auto Part ImportsGreece Releases New Proposal With Even Greater Losses To Creditors Durden , Prophetic Economist Warns, Its Curtains for the US. Prepare. (Moneynews) Katrina Turner , STOCKS GO NOWHERE ON MORE DISAPPOINTING DATA: Here's What You Need To Know Business Insider , US S&P Case-Shiller home prices -0.7% in Nov for 20-cities index, -3.67% y/y, weaker than market expectations. Jan 31st, 2012 , SPX Update: Bears Fire a Shot Across the Bow  By Jason Haver Jan 31, 2012 , 47 Signs That China Is Absolutely Destroying America On The Global Economic Stage  http://theeconomiccollapseblog.com  http://albertpeia.com/47signschinadestroyingamericaoneconomicstage.htm  ,   Senators: Get Rid of Dollar Bills The Wall Street Journal [ Given the dollar debasement policies, theyre kind of like those nuisance pennies, and, as fiat paper currency, dont even have the value of copper to fall back on. ] , Exxon Leads DJIA Losers On Tepid DayWall St. Cheat Sheet [ Increased costs the reason, the flip side of that debased dollar manipulation thats artificially propped earnings, particularly for those multi-nationals. ]  ,    Investors: There's Increased Probability of a Correction  Minyanville Chris Vermeulen Jan 30, 2012 Eventually equities will start to underperform. At that point, gold will be in the final stages of its bubble, and the term "parabolic" could likely be applied. Read more: http://www.minyanville.com/businessmarkets/articles/gold-prices-price-of-gold-federal/1/30/2012/id/39109#ixzz1kzPLaKZl , Daves Daily: http://www.etfdigest.com  BULLS KEEP JANUARY ASCENT INTACT January 30, 2012   Eurozone news took markets lower early as Portugals bond yields rose sharply and there still is no accord on Greek debt with private lenders. News from the eurozone remains .. natural to suspect some end-of-month window dressing. U.S. stocks began to rally off triple digit DJIA lows led primarily by technology after Europe closed (funny how that happens). Burlington Northern stated the economy was growing slowly and they were adding employees and railroad cars to meet perceived demand. This helped stimulate stocks overall even though it was little help to the transport sector (IYT) which closed the day down .43%In housing market news was this eye-opening story that Freddie Mac was betting big time against its own customers. Or, as the story headline goes, When Homeowners Lose, Freddie Mac Wins. Betting against your own customers isnt anything new on Wall Street, something begun by then Goldman Sachs CEO Robert Rubin in the 90s. But for the government to do so states the obvious conflict. Also in the news was the government has increased loss projections for the auto bailout to $27 billion... http://i238.photobucket.com/albums/ff171/flyfry/new%20album/image004-114.jpg  .. These stories hardly seem bullish..consumer spending was lower…’ , Conflicting Signals? Four Questions Facing The Market Forbes Charles Biderman, Contributor  [ Mr. Biderman provides an astute backdrop to the ongoing debacle, but fails to properly access and attribute the fact/reality that in many ways fraudulent wall street is the government as weve lamentably seen in the form of paulsen, rubin, geithner, bernanke, goldman saches, etc., and certainly when it counted for wall street at everyone elses expense; and, the absence of high level prosecutions further testament to that factual reality. See here as well: Nothing Has Changed, But Bulls Are Becoming More Bullish    Forbes Charles Biderman, Contributor http://www.forbes.com/sites/investor/2012/01/23/nothing-has-changed-but-bulls-are-becoming-more-bullish/?partner=yahootix  This article is an incisive yet brief look at the source of funds for the upside biased stock manipulation and an important read from Forbes / Biderman   ]  Again and again I have to keep reminding myself that most portfolio managers, as well as individual investors, firmly believe that not only can the U.S. economy grow its way out of its current mess, but that the U.S. economy has already begun that process.The fact that the Fed continues to create $100 billion of new money each month to support the economy is not as important to them as is the cumulative 60% growth in the federal deficit since 2008. Also irrelevant is that take home pay net of inflation is and has been declining on a year over year basis for the past several months…’ , REGARDING SOCIAL PROGRAMS AND GOVERNMENT OUTLAYS: THE MONEY SIMPLY ISNT THERE January 30th, 2012 http://gainspainscapital.com , Fannie Mae, Freddie Mac Shown as Mortgage Market Predators : rcwhalen : 01/30/2012 This morning, NPR and ProPublica, began reporting on financial transactions at Freddie Mac that bet against homeowner refinancing with their portfolio. , The Market Could Soon Bottom (And Nobody Knows It)  Minyanville David Banister Jan 30, 2012 , The Baltic Dry Meltdown Continues The Wall Street Journal , Making Money On Poverty: JP Morgan Makes Bigger Profits When The Number Of Americans On Food Stamps Goes Up http://theeconomiccollapseblog.com  http://albertpeia.com/makingmoneyonpoverty.htm , Guest Post: The Price of Growth Are we better off if a near-term recovery comes at the expense of our future security? The prudent among us would disagree. , Long-Dated VIX Still Priced For Depression RiskSan Francisco Fed Admits Bernanke Powerless To Fix Unemployment Problem Europe Has Worst Day In Six Weeks Zero HedgeIt's Official: German Economy Minister Demands Surrender Of Greek Budget Policy, Says It Is First Of Many Such Sovereign "Requests"Greece Politely Declines German Annexation Demands  , Daves Daily: http://www.etfdigest.com 1-26-12  ‘…phony CPI because authorities want you to pretend you neither use heating oil, gasoline or even food for that matter. Theyve reconfigured the CPI more times than congress votes on a new debt ceiling. And, they do this to deceive but also to lower entitlement spending. Imagine all those government workers on COLAs and Social Security recipients who just stare at their heating and electric bills in disbelief. Whats a nice T-bone cost nowadays anyway? Its the dropping price of tech toys and quality improvements they focus on that matters now. Economic data was mostly disappointing versus estimates. Jobless Claims were up more than expected (377K vs 370 exp. & prior revised higher as usual to 356K); Durable Goods Orders also missed (+.3% vs +2.2% exp. & prior 4.3%); Leading Indicators missed (+.4% vs +.7% exp. & prior +.5%); and, New Home Sales also disappointed (307K vs 320K exp. & prior 314K prior)…’ , INVESTORS, SKIP THE 'JANUARY INDICATOR' FOR STOCKS Jan. 26, 2012 http://www.marketwatch.com/video/asset/investors-skip-the-january-indicator-for-stocks-2012-01-26/D6D6B044-07E7-455A-A669-F97B87EE8452#!D6D6B044-07E7-455A-A669-F97B87EE8452 What's known as the "January indicator" says a positive month often yields gains for the year. But the indicator isn't what it's cracked up tobe,according to Market Watch's MarkHulbert , IfTheEconomyIsImproving(Not!)...  http://albertpeia.com/economynotimproving.htm  ,  Market Preview: The Fed's Stealth Bailout of Europe TheStreet , I Present To You The First Probable US Commercial Real Estate Insolvency Of Many To Come Middleton : 01/26/2012 GGP part deux, as the hopium high sold by US regulators that allowed banks and borrowers to pretend bad loans were good wears off and reality sets in.. , Daves Daily: http://www.etfdigest.com 1-27-12 GDP DATA CONFIRMS SLOW GROWTH  GDP data was released Friday revealing headline economic growth of 2.8% versus consensus of 3.1%. Real economic growth after inflation was only 1.7% for 2011. Negatively affecting the data were lower state and local government spending, private inventory investment and, believe it or not, federal government spending. While the all-important, and much watched by the Fed, PCE (Personal Consumption Expenditures) was higher it was a disappointment overall. This may reflect what the Fed saw in the data (weak growth) which then caused them to keep interest rates low for a long period. They must worry this slow growth condition is going to be with us for a long time. This is hardly encouraging.The month of January has only a couple of trading days left. Even with Fridays poor performance the month is still scoring outsized gains for most stock sectors. Consumer Sentiment data has stock prices as a high component, so its not surprising the measure was 75 versus 74 expected , Largest Central Banks Now Hold Over 15 Trillion in Fictitious Capital : ilene : 01/27/2012 , The Silent Anschluss: Germany Formally Requests That Greece Hand Over Its Fiscal IndependenceEndgame Begins - UK "Foreign Office Sources Say Merkel Now Thinks Greece Will Default"Friday Tragedy: The US Debt Limit ExplainedFitch Gives Europe Not So High Five, Downgrades 5 Countries... But Not France Naturally no downgrade of France. French Fitch won't downgrade France. , 16 Statistics Which Show That The Number Of Americans Dependent On The Government Is At An All-Time High   http://theeconomiccollapseblog.com   http://albertpeia.com/16statsamericansdependentongov.htm   ,  Largest Central Banks Now Hold Over 15 Trillion in Fictitious Capital : ilene : 01/27/2012 A strong yen strikes again. , Fed Won't Admit it - But QE3 is Already in Force ETFguide  Simon Maierhofer  ..True, there is no QE3 (yet) in the form of QE1 or QE2. QE stands for quantitative easing and quantitative easing happens when a central bank buys financial assets to inject money into the economy. Even though it's not called QE3, the Fed is right now making billions of dollars available to buy financial instruments. We're not talking about Operation Twist here; we're talking about a covert operation that's essentially a U.S. bailout of Europe.. the S&P has reached (and exceeded) the initial up side target and is starting to create a sell signal similar to the May 2011 top.. , Greenspan's Successor Pushing On A String Forbes , ECONOMY DISAPPOINTS, EUROPE GETS DOWNGRADED, MARKETS GO NOWHERE: Here's What You Need To KnowBusiness Insider , All Central Bank Balance Sheets Are Exploding Higher, Or Engaged In QE Jan 27th, 2012 (The Big Picture) The degree to which central banks around the world are printing money is unprecedented …’ Economists React: GDP 'Less Impressive Than It Looks'at The Wall Street Journal , Euro Zone Money Supply Offers Grim Newsat The Wall Street Journal , Q4 GDP Misses Estimates, Inventory Stockpiling Accounts For 1.9% Of 2.8% Q4 US Economic Growth The US economy grew at a 2.8% annualized pace in the supposedly blistering fourth quarter, yet the number was a disappointment not only in that it missed estimates of 3.0% (and far higher whisper numbers) but when one looks at the components, where a whopping 1.94% of the upside was attributable to a rise in inventories as restocking took place. And as everyone knows in this day and age a spike in inventories only leads to sub-cost dumping a few months later. In other words, the economy grew at a 0.8% pace ex inventories. Yet for all intents and purposes, this is considered "growth." , Frontrunning: January 27 Durden on 01/27/2012 · Greek Debt Wrangle May Pull Default Trigger (Bloomberg) · Italy Sells Maximum EU11 Billion of Bills (Bloomberg) · Romney Demands Gingrich Apology on Immigration (Bloomberg) · Chinas Residential Prices Need to Decline 30%, Lawmaker Says (Bloomberg) · EU Red-Flags 'Volcker' (WSJ) · EU Official Sees Bailout-Fund Boost (WSJ) · EU Delays Bank Bond Writedown Plans Until Fiscal Crisis Abates (Bloomberg) · Germany Poised to Woo U.K. With Transaction Tax Alternative (Bloomberg) · Ahmadinejad: Iran Ready to Renew Nuclear Talks (Bloomberg) · Monti Takes On Italian Bureaucracy in Latest Policy Push to Revamp Economy (Bloomberg) ,  Juncker Breaks Away From Propaganda Pack, Says Euro Default Will Lead To ContagionRoubini's Bearish Forecast Is Bullish For GoldHe said, Rising commodity prices, uncertainty in the Middle East, the spreading European debt crisis, increased frequency of extreme weather events and U.S. fiscal issues are persistent problems that will continue to spur market volatility and sway asset prices in the global economy. This is great news for gold. Goldman Sachs noted in a report on Jan. 13th that futures will advance to $1,940 an ounce in 12 months.  Morgan Stanley forecasts the yellow metal will climb to a record of $2,175 by 2013, said analysts Peter Richardson and Joel Crane in their research report. , IceCap Asset Management: No Country For Old MenMost Canadian pension funds are banking on 7% annual returns forever. Over the next few years, this unrealistic expectation will cost the respective governments and companies millions in shortfalls. In the USA, the California Public Employees Retirement System assumes it will earn over 7.75% annual returns. This false hope will result in over $6 billion a year in lower than expected investment income, that will also have to be paid by the financially challenged state (ie. taxpayers). , Stephen Roach Explains How The Fed Is Pulling The Wool Over Our Eyes   ,  The Fed Cannot Move Without a Crisis And One is Coming  http://gainspainscapital.com    January 26th, 2012 Well the Fed disappointed as I stated it would. How anyone could be surprised by this is beyond me. The Fed was admitting that the consequences of QE rendered it less attractive as an option as far back as May 2011.Moreover, the last six months have shown the Fed to be relying heavily on verbal intervention rather than direct monetary intervention. Every FOMC meeting (and any time the market takes a dive) some Fed official steps forward and promises that the Fed stands ready to help if needed.The reasons for this are three fold: #1)  Why bother with monetary intervention when you can get the same effect from verbal intervention? #2)  The Fed is too politically toxic now to simply unveil a massive new monetary scheme without a Crisis hitting first. #3)  The Fed is well aware of the consequences of QE (higher food and gas prices) and while it focuses on CPI as the measure of inflation, the political pressure engendered by higher costs of living are certainly on the Feds radar. In plain terms, the bar for more QE is set much, much higher than the vast majority of analysts realize. The reason is that the Fed can no longer simply prime up the printing presses if the economy takes a dip.  , Median Single Family Home Price in Terms of Gold Jan 27th, 2012 (Chart of the Day) Severely depressed real estate prices continue to be a concern for investors. For some perspective on the magnitude of the decline in home prices, todays chart presents the median single-family home price divided by the price of one ounce of gold. This results in the home / gold ratio or the cost of the median single-family home in ounces of gold. For example, it currently takes a relatively low 105 ounces of gold to buy the median single-family home. This is dramatically less than the 601 ounces it took back in 2001. When priced in gold, the median single-family home is down over 80% from its 2001 peak, remains well within the confines of a six-year accelerated downtrend and remains very near its 1980 trough. http://albertpeia.com/housegold.gif  ,  The Man Without A Plan  http://theeconomiccollapseblog.com http://albertpeia.com/omanwithoutaplan.htm  Barack Obama is a man without a plan.  , Newt Gingrich promises to build a moon colony by 2020; make it a U.S. state [ Wow! Absolute proof that the slimy newts not dealing with a full deck. Say anything? This takes the cake! The idea man? Sure, all he needs is Aladdins lamp and infinite capital! Oh yeah, reality nothwithstanding, nasa boondoggles sell well in Cape Canaveral, Florida (and Houston, Texas). Note, he couldnt just go to the moon for the first time (that fake video with the flag waving in the moons windy atmosphere yet another example as on fraudulent wall street of that pervasively addictive hopium) Americas debt woe is worse than Greeces News (CNN) Our government is utterly broke. There are signs everywhere one looksThe governments total indebtedness is $211 trillion

 

 

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How much has Obama added to debt? OPINION | The amount hes 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. http://albertpeia/34shockingfactsaboutusdebt.htm    Hit Obama harder OMBUDSMAN | The Post must dig deep during the relection campaign, be hard-hitting on his record.  (WP) [ I couldnt have said this better myself. After all, high time for the rubber to meet the road { Drudgereport (on Government Motors): REPORT: Chevy Volt Costing Taxpayers Up to $250K Per Vehicle...  CAVUTO: Volt sales inflated with taxpayer fleet buys...  and those unaffordably costly military industrial complex welfare programs. The so-called improvement? At what cost for election appearances only? Professor Kotlikoff  for CNN...The government's total indebtedness now stands at $211 trillion} ; you know, that thing called reality; the raw unvarnished truth. Wobamas gotten by on special consideration, jive-talkin, and b***s*** his entire life. A reality check concerning his last campaign promises relative to what hes actually done is a grotesque exhibition of abject failure. Theres absolutely no excuse for what hes done an not done; and, the Keystone debacle is just the latest example of many more travesties. Goin along for the ride? Hes been one, long schmooze. Theres really no record, other than that of complete and utter failure masked by more b***s***. Milbank: House GOP plays debt charades (WP) [ Well, if theres one thing that wobama and his minions know something about, clearly its debt. After all, wobama has increased the nations debt more than that of all the presidents from Eisenhower to date combined. Thats no small feat, and, lamentably, no small amount. In fact, the amount is now so large, it is virtually insurmountable; even exceeding multiple times by far, individually and collectively, that of the acknowledged most bankrupt nations in the world. 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. (WP) [ Those unaffordably costly jobs { 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...  }  The wrong call on Keystone On substance, approving the pipeline project shouldve been easy for the administration. (Washington Post) [ For the Editorial Board (or anyone else), theirs is the right call. In truth, Id have been somewhat surprised by this misguided action of the administration even if the nation was not in dire straits in almost every way imaginable; particularly, financially, economically, and structurally (including infrastructurally). hillary clinton? Oh yeah, that chicago mercantile commodities wizard that turned some nominal sum ($3-7,000) into in excess of $100,000 in a rather short period of time (The Wall Street Journals expert concluded someone was giving the clintons money). Quite frankly, Im a bit surprised she was involved at all in the process; being the first Secretary of State in memory to have done so. After all, shes been so integrally involved in fomenting the prevalent anti-american sentiment throughout the world with great éclat. Then theres americas defacto bankruptcy. Thats gotta be the last straw militating against this imprudent decision. Other astute financial people / commentators / analysts were also a bit shaken (by the misstep) but not stirred (typical failed americana).   (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).  Obama continues trend of turning to budget director in time of trouble Lews replacement of Daley as chief of staff reflects anticipation of fight with Congress on payroll tax. (Washington Post) [ Lets not sugar-coat the reality here! Given americas defacto bankruptcy and wildly profligate spending by wobama exceeding by far all others (and the last several combined) thereby exacerbating americas dire predicament  (Dire predicament, forecast, time to get out of Dodge (america)  http://albertpeia.com/forecastusdebtgetoutofdodge.htm  ) it was nothing short of pathetic to hear of wobamas pre-election year military budget cuts while bragging that his military budget allocation still exceeds that of bush failure 2. Some companies wont even hire until wobamas out ( Drudgereport:  COMPANY SHOCK: 'WE'RE NOT HIRING UNTIL OBAMA GONE'  ) , the ‘budget director’ for his ‘knowledgeable budgetary skills’ is hardly palatable reality even to as gullible an american public as we’ve come to know. There’s a bit more to this story that needs sayin’. Romneys money problem His nomination may be near, but his routine is getting a bit rich. (Washington Post) [ Yet another of those aw come on Mr. Milbank moments. I mean really. Wobamas are as rich, disingenuous to say otherwise, and his routine, namely b***s***, is past getting old. After all, wobama cant run on his clear record of failure as bush failure 3 with what turns out as before, b***s*** alone. The problem is that theres nothing that can be said of the republican offerings (except Ron Paul) for which it cant be said of wobama that hes been there, done that in contravention of all prior campaign promises, to the substantial detriment of the nation. Even his new displacement as chief of staffs a wall street inside man (Drudgereport: FLASHBACK: Daley planned to leave AFTER election...  ,  Michelle (a black) distressed about power of 'white Irish Catholic'...  ,  New Obama Chief of Staff: Former Hedge Fund Exec at CITI, Made Money off Mortgage Defaults... (even Castro’s correct on this obvous point regarding the duplicitous wobama ) Castro: 'Robot' better than Obama, Republicans... UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... WP ignore cases that involve black defendants and white victims ' Cases against Wall Street lag despite Holders vows to target financial fraud  WP | Obama has promised to hold Wall Street accountable for the meltdown.         . Obama missing the mark on defense? President Obamas defense strategy and the assumptions underlying it need a closer look. (Washington Post) [ I really dont know what the editorial board really is; but thats the only reason Im commenting here (on this one) given their most recent, shocking contributions to the discourse. First, lets begin with a  fundamental reality; viz., america is hopelessly and insurmountably defacto bankrupt. Second, Id like to know how these unaffordably expensive military industrial complex (warned against by the great but substantially underrated President General Eisenhower) welfare programs have succeeded in accomplishing anything but the defacto bankruptcy of this nation, created fortunes for the war profiteering few, while fomenting (justifiable) anti-american sentiment globally (that destructive thing that rational people abhor). Third, $489 billion in cuts over 10 years (however sold, ie., new strategy) is nothing relative to the enormity and insurmountability of the nations debt. What needs a closer look is not so much the new strategy; but rather that failed abhorrent old strategy, however repackaged, and those who made it. After all, it doesnt matter so much what they say, as it does what they do. A glaring example is the war on drugs given americas unequivocal involvement in same (infra). As for wobama missing the mark on defense, there isnt anything whatsoever that wobama hasnt missed the mark on. 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 Holders vows to target financial fraud  WP Obama has promised to hold Wall Street accountable for the meltdown.    America Is a Failed State Because It Wont Prosecute Financial Crime  Washingtons 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 ,    

 

 

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The media Newt Why we want him to stay in the race. (Washington Post) [ How ‘bout singular; as in, why Mr. Milbank want’s Che Newty the revolutionary to stay in the race: The promised land of course … that 51st state also more commonly known as the moon; and, where all inhabitants aka lunatics can live in peace as one. Just kidding! The real reason is that they’re for that failed president wobama the b for b***s***; you know, that man without a plan. The Man Without A Plan  http://theeconomiccollapseblog.com   http://albertpeia.com/omanwithoutaplan.htm   ‘Barack Obama is a man without a plan.  When you are young, they often tell you to "fake it until you make it", but Barack Obama is taking this to ridiculous extremes.  Barack Obama has absolutely no idea what he is doing when it comes to the economy, and yet he continues to give speeches in which he declares that he is the man for the job.  The State of the Union speech the other night was just abysmal.  The federal government is spending way too much money, and yet Barack Obama is proposing even more government spending.  Entrepreneurs and small businesses are being taxed into oblivion and yet Barack Obama is proposing even higher taxes.  Our economy is being strangled to death by crippling regulations, and yet Barack Obama is proposing a vast array of new regulations.  Barack Obama always gives a nice speech, but it has become appallingly evident that he is totally out of ideas.  So our country will continue to drift aimlessly along without a direction and without a plan until the next financial tsunami comes along and makes things even worse.

And the American people are starting to clue in to the fact that Obama does not have a plan and does not have anything new to say.  Just check out how the audiences for his State of the Union addresses have declined each year....

2009: 52.3 million

2010: 48 million

2011: 42.8 million

2012: 37.8 million

His ratings are falling almost as fast as the ratings for American Idol are.

It is amazing how Barack Obama can use so many words to say so very little.

He always tickles our ears but then he never delivers the goods.  Toward the beginning of his speech the other night, he made the following statement....

"Tonight, I want to speak about how we move forward, and lay out a blueprint for an economy that’s built to last—an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values"

Well, that sounds pretty good.  Except for the fact that everything he has done for the past 3 years has been the exact opposite of that.

It is almost as if he woke up that morning and decided that he would try the whole "do the opposite" thing once made famous by George Costanza on Seinfeld.

Obama says that our employment situation is getting better, but that is not really true.  The only way that the federal government can claim that there is an 8.5 percent unemployment rate is because they have decided that millions of Americans that have been unemployed for a long time should not be considered "part of the workforce" any longer.

If the number of Americans that were considered to be part of the workforce was the same today as it was back in 2007, the "official" unemployment rate put out by the U.S. government would be up to approximately 11 percent.

Sadly, the number of Americans that are dependent on the government continues to soar even higher.

Since Barack Obama took office, the number of Americans on food stamps has actually increased by 14 million.

Things have not gotten better for average Americans.

They have gotten worse.

In fact, 10 million more Americans have fallen below the poverty line since 2006.  And in 2010, more Americans fell into poverty than ever before.

A lot of people out there are really hurting, and the American people deserve some real answers.

But instead, Obama was saying stuff like this the other night....

"I intend to fight obstruction with action, and I will oppose any effort to return to the very same policies that brought on this economic crisis in the first place"

Oh really?

What is Obama actually doing about the things that caused the last financial crisis?

The "financial reform" bill was a complete and total joke.  Obama has been shamefully soft on the big Wall Street banks that caused the last crisis.

Today, the "too big to fail" banks are larger than ever.  The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.

So now they are more of a danger to the financial system than ever.

And not a single Wall Street executive has gone to jail for what they did during the last financial crisis.

Thanks Obama.

But of course Obama was never going to seriously go after Wall Street.

After all, they are the ones that fund his campaigns.

Most Americans don't realize this, but 3 of the top 7 donors to Obama's campaign in 2008 were "too big to fail" banks.

And the Obama administration has been absolutely packed with ex-Wall Street bankers.  Last year, Michael Brenner wrote the following about the composition of the Obama administration....

Wall Street's takeover of the Obama administration is now complete. The mega-banks and their corporate allies control every economic policy position of consequence. Mr. Obama has moved rapidly since the November debacle to install business people where it counts most. Mr.William Daley from JP Morgan Chase as White House Chief of Staff. Mr. Gene Sperling from the Goldman Sachs payroll to be director of the National Economic Council. Eileen Rominger from Goldman Sachs named director of the SEC's Investment Management division. Even the National Security Advisor, Thomas Donilon, was executive vice president for law and policy at the disgraced Fannie Mae after serving as a corporate lobbyist with O'Melveny & Roberts. The keystone of the business friendly team was put in place on Friday. General Electric Chairman and CEO Jeffrey Immelt will serve as chair of the president's Council on Jobs and Competitiveness.

During his State of the Union address, Obama also promised to bring manufacturing jobs back to America....

"Think about the America within our reach: A country that leads the world in educating its people. An America that attracts a new generation of high-tech manufacturing and high-paying jobs"

That sounds great, except for the fact that Obama has been doing everything he can to get more American jobs shipped out of the country.

The Obama administration has been aggressively pushing new "free trade" agreements with Panama, South Korea and Colombia.  The Obama administration has also made the Trans-Pacific Partnership ("the NAFTA of the Pacific") an extremely high priority.

And of course we have all seen how wonderfully the first NAFTA worked out.

Our "free trade" policies have been an absolute nightmare for the American worker.

During 2010, an average of 23 manufacturing facilities a day shut down in the United States.  Overall, more than 56,000 manufacturing facilities in the United States have shut down since 2001.

We are bleeding jobs at a pace that is hard to believe.

Amazingly, the United States has lost an average of 50,000 manufacturing jobs a month since China joined the World Trade Organization in 2001.

Yet Obama promises more of the same and that is  supposed to help?

During his speech, Obama correctly noted that many foreign manufacturers are heavily subsidized....

"It's not fair when foreign manufacturers have a leg up on ours, only because they're heavily subsidized"

So are we going to deeply penalize those that have been cheating?

Are we going to warn them that we will stop trading with them unless they stop?

Of course not.

Obama is going to do next to nothing to stop what China and other predatory nations are doing to us.

Today, the United States spends approximately 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States, and the U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.

But the Obama administration doesn't seem to care much about these things.

In fact, just check out what U.S. Trade Representative Ron Kirk told Tim Robertson of the Huffington Post about the Obama administration's attitude toward keeping manufacturing jobs in America....

Let's increase our competitiveness... the reality is about half of our imports, our trade deficit is because of how much oil [we import], so you take that out of the equation, you look at what percentage of it are things that frankly, we don't want to make in America, you know, cheaper products, low-skill jobs that frankly college kids that are graduating from, you know, UC Cal and Hastings [don't want], but what we do want is to capture those next generation jobs and build on our investments in our young people, our education infrastructure.

Oh, but Obama now says that he is going to toughen up on trade....

"I'm announcing the creation of a Trade Enforcement Unit that will be charged with investigating unfair trading practices in countries like China. There will be more inspections"

Oh boy - "inspections" - yeah, that is really going to have the Chinese shaking in their boots.

Meanwhile, the Chinese just keep hitting us with new tariffs.  According to the New York Times, a Jeep Grand Cherokee that costs $27,490 in the United States will now cost about $85,000 in China thanks to these new tariffs.

So is Obama going to hit China with tough new tariffs in return?

Of course not.

Meanwhile, our economy continues to bleed businesses and jobs.  According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue.

But if you listen to Obama, he makes it seem like many of our industries are in better shape than ever....

"We bet on American ingenuity, and tonight the American auto industry is back."

Yes, the American auto industry is no longer on the brink of bankruptcy, but it is not "back".  Just consider the following stats....

*In 1970, General Motors had about a 60 percent share of the U.S. automobile market.  Today, that figure is down to about 20 percent.

*Back in 2000, about 17 million new automobiles were sold in the United States.  During 2011, less than 13 million new automobiles were sold in the United States.

*Japan builds more cars than anyone else on the globe.  Japan now manufactures about 5 million more automobiles than the United States does.

*Since Alan Mulally became CEO of Ford, the company has reduced its North American workforce by nearly half.

*In the year 2000, the U.S. auto industry employed more than 1.3 million Americans.  Today, the U.S. auto industry employs about 698,000 people.

Obama bailed out the auto industry, and they responded by sending even more of our jobs overseas.

During his speech, Obama declared that there will be no more bailouts....

"No bailouts, no handouts, and no copouts."

That is kind of funny because Obama is basically the all-time champion of handing out bailouts.

If Barack Obama and John McCain had not aggressively pushed for the Wall Street bailouts back in 2008, they never would have happened.

And once Obama became president, there was a seemingly endless parade of bailouts and "stimulus packages".

So what do you honestly think he will do when the next financial crisis happens?  Do you think he would actually be able to resist the temptation for more bailouts?

Obama also says that he wants to spend more money on training for American workers....

"Join me in a national commitment to train two million Americans with skills that will lead directly to a job."

But the American people already have enough training.  There are tons of college-educated Americans that are among the ranks of the unemployed right now.

What the American people need are jobs.

Unfortunately, jobs are leaving this country at an unprecedented pace.

Back in the year 2000, more than 20 percent of all jobs in America were manufacturing jobs.  Today, about 5 percent of all jobs in America are manufacturing jobs.

Not only that, but our incomes are also going down.  Because U.S. workers now have to compete for jobs with workers that make slave labor wages on the other side of the globe, pay in this country continues to decline.

A recent White House reported entitled "Investing in America: Building an Economy That Lasts" actually bragged that our trade policies have driven wages in America down.  The following chart is from that report....

http://albertpeia.com/omanwithoutaplan_files/image001.jpg

The Obama administration has been very good for the largest corporations.

For the rest of us, not so much.

But Obama now says that he wants America to be a place that encourages entrepreneurs and small businesses to thrive....

"It means we should support everyone who’s willing to work; and every risk-taker and entrepreneur who aspires to become the next Steve Jobs."

Unfortunately, the reality is that the federal government is strangling entrepreneurs and small businesses to death with taxes and crippling regulations.

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.

That is not a good trend.

And right now small businesses are extremely hesitant to bring on new workers.

One recent survey found that 77 percent of all U.S. small businesses do not plan to hire any more workers in the coming year.

So obviously what the Obama administration is doing is not working.

During his speech, Obama also spoke of developing our own energy resources....

"A future where we are in control of our own energy, and our security and prosperity aren't so tied to unstable parts of the world."

Hopefully most of those watching laughed when they heard this, because this had to have been a joke.

America is absolutely swimming in oil and natural gas, and yet the Obama administration has blocked the development of those resources at every turn.

Instead, Obama has been very busy trying to push green energy companies on us, but they have had a nasty habit of going bankrupt.

During his speech, Obama also spoke of the need for "comprehensive immigration reform".

But apparently Obama's idea of "immigration reform" is to grant "backdoor amnesty" to the vast majority of the illegal immigrants in the United States and to continue to leave our borders completely wide open.

The consequences of such a policy are very serious.  As I wrote about the other day, there are now 1.4 million gang members living inside the United States, and that number has risen by an astounding 40 percent since 2009.

The last thing we need is more "immigration reform" from Barack Obama.

Of course the "class warfare" part was the centerpiece of Obama's speech the other night.

Referring to it as the "defining issue of our time", Obama said that now is the time to hit the wealthy with higher taxes....

"We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by. Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules."

This is going to be what Barack Obama is going to base his entire 2012 campaign on.  He is going to try to tap into the economic frustrations of the poor and the middle class and he is going to try to get them to blame the rich and the "party of the rich" (the Republicans).

But taxing the rich is not going to solve our problems.  If Bill Gates donated his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.

The truth is that the ultra-wealthy are always several steps ahead of the U.S. government.  The global elite are hiding 18 trillion dollars in offshore banks, and they are absolute experts at avoiding taxes.

No, the people that always get hit when taxes are raised are small business owners that try to do things "by the book" and middle class families that are barely scraping by.

What we need to do is to get rid of the income tax system entirely.  It is deeply corrupt and it is full of thousands of loopholes.

Trust me, I know.  I used to study this stuff.

But Obama seems to think that taxing the rich is the solution to all of our problems....

"We don’t begrudge financial success in this country. We admire it. When Americans talk about folks like me paying my fair share of taxes, it’s not because they envy the rich. It’s because they understand that when I get tax breaks I don’t need and the country can’t afford, it either adds to the deficit, or somebody else has to make up the difference – like a senior on a fixed income; or a student trying to get through school; or a family trying to make ends meet. That’s not right. Americans know it’s not right. They know that this generation’s success is only possible because past generations felt a responsibility to each other, and to their country’s future, and they know our way of life will only endure if we feel that same sense of shared responsibility. That’s how we’ll reduce our deficit."

Oh really?

If we just accept Obama's plan the deficit will be fixed?

That worked out so well during his first term.  During the first three years of the Obama administration, the U.S. government accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.

The truth is that Obama does not plan to fix anything.  Barack Obama's proposed 2012 budget projects that the national debt will rise to 26 trillion dollars a decade from now.  And his budget numbers are ridiculously optimistic.

Not that our tax system does not need reform.

If we are going to have an income tax system (which we should not), then it should at least be fair.

There is no way in the world that General Electric and Mitt Romney should pay a lower tax rate than you and I do.

In a previous article, I noted some of the big corporations that have made enormous profits and yet have paid less than zero in taxes in recent years....

What U.S. corporations are able to get away with is absolutely amazing.

The following figures come directly out of a report by Citizens for Tax Justice.  These are combined figures for the tax years 2008, 2009 and 2010.

During those three years, all of the corporations below made a lot of money.  Yet all of them paid net taxes that were below zero for those three years combined.

How is that possible?  Well, it turns out that instead of paying in taxes to the federal government, they were actually getting money back.

So for these corporations, their rate of taxation was actually below zero.

If you have not seen these before, you are going to have a hard time believing some of these statistics.....

*Honeywell*

Profits: $4.9 billion

Taxes: -$34 million

*Fed Ex*

Profits: $3 billion

Taxes: -$23 million

*Wells Fargo*

Profits: $49.37 billion

Taxes: -$681 million

*Boeing*

Profits: $9.7 billion

Taxes: -$178 million

*Verizon*

Profits: $32.5 billion

Taxes: -$951 million

*Dupont*

Profits: $2.1 billion

Taxes -$72 million

*American Electric Power*

Profits: $5.89 billion

Taxes -$545 million

*General Electric*

Profits: $7.7 billion

Taxes: -$4.7 billion

Are you starting to get the picture?

Hopefully we can all agree that there is something seriously wrong with those numbers.

But fixing holes in the tax system is one thing - blaming America's economic ills on the wealthy is another.

During his speech, Obama made the following statement....

"You can call this class warfare all you want"

And yes, we will hear the term "class warfare" over and over again for the rest of 2012.

Obama actually believes that "blaming the 1%" can get him sent back to the White House again.

But that isn't going to solve any of our problems.

Instead, we should be focusing on the root causes of our economic problems.

I would love to see a president get up during a State of the Union address and declare that we need to shut down the Federal Reserve.

Since the Federal Reserve was created in 1913, the U.S. dollar has lost over 95 percent of its purchasing power.

Since the Federal Reserve was created in 1913, the U.S. national debt has gotten more than 5000 times larger.

Thanks to the debt-based Federal Reserve system, we are going into debt at a pace that is unlike anything the world has ever seen.

Right now, the federal government is stealing 150 million dollars an hour from our children and our grandchildren.

But Barack Obama loves the Federal Reserve.

In fact, he actually nominated Ben Bernanke for a second term as Federal Reserve Chairman even though Bernanke has a track record of incompetence that is legendary.

So no, nobody should be applauding Barack Obama for his absolutely abysmal speech the other night.

He is a man without a plan and he has been an absolute disaster for America.’

 

 

 

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http://albertpeia.com/stansberrycorruptiondeclineofamerica.htm

 

 

 

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!

Doors L.A. Woman Lyrics

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? Hes 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 …).

 

GINGRICH PLEDGES MOON COLONY DURING PRESIDENCY By Amy Gardner http://www.washingtonpost.com/blogs/election-2012/post/gingrich-pledges-moon-colony-during-presidency/2012/01/25/gIQAmQxiRQ_blog.html?fb_ref=NetworkNews   (Washington Post) [ The 51st state! To the moon (C)Allis(ta) … well … she looks a little like Audrey Meadows; and, a little black hair dye, he a bit like Jackie Gleason.  Wow! The ‘Homey Mooners’! Yeah! I can see it now… snooty newty taunting the obamanoids: See what fruity newty got on his agenda, wobamanoids … a new state …the moon … top that, will ya … how could they? Nobody could! Breakpoint, advantage gingrich … Charlie Sheen governor … winning! …. (not really … but indeed, this could be newt’s manic phase in a bipolar, or lesser cyclothymic disorder … yet, one can’t exclude narcissistic personality disorder in light of such ‘grandiosity / grandiose plans’ … whew! You really can’t make this stuff up! What a mental case!  Newt Gingrich promises to build a moon colony by 2020; make it a U.S. state [ Wow! Absolute proof that the slimy newts not dealing with a full deck. Say anything? This takes the cake! The idea man? Sure, all he needs is Aladdins lamp and infinite capital! Oh yeah, reality nothwithstanding, nasa boondoggles sell well in Cape Canaveral, Florida (and Houston, Texas). Note, he couldnt just go to the moon for the first time (that fake video with the flag waving in the moons windy atmosphere yet another example as on fraudulent wall street of that pervasively addictive hopium) Americas debt woe is worse than Greeces News (CNN) Our government is utterly broke. There are signs everywhere one looksThe governments total indebtedness is $211 trillion . How pathetic and desperate, that slimy newt! Like his bro’ trump and palin, he’s become the joke that keeps on giving. He’ll still have SNL. ]

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 Posts 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 Theyre worried and angry as the White House wont 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 wont 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.”     


NASA's New Asteroid Mission Could Save the Planet  Space.com - Tariq Malik - 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 dont forget, Bruce Willis and Ben Affleck, et als, have already done this so its not as if theyre 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 - Bill Ingalls - 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. ... 'Moon rock' in dutch museum is just petrified wood aug 27, 2009 ... Fake moon rock at dutch national museum. Rijksmuseum / ap. This rock, supposedly brought back from the moon by american astronauts, ...    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    ]

 

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 its not the economy that makes the election a nail-biter. Rather, its wobamas 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 wouldnt be vulnerable to the legitimate accusations that his actions (and non-actions) belie his words as last time around. As for the economy, its 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 didnt listen to / watch wobamas 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